The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
TW O
SECTION,
IN D E X
O F C O M P A N IE S
8m ]*««• 146 to 152
MO C E T 1U
O O K IU O P T H IS
O c t o 'b e r 3 0
1020
m m % »r M l
rn m
Bm
WI L L I A M B. DA NA COMPANY, P 0 B L I S H1 B S ,
Feont. Pots A D*p*tst« x Sts ., N ew Y oml.
tfmmm
EDWARD B. SMITH & CO.
BANKERS
;; ;
C s w t e cwMadersPen ghnrn t »
........“
U ■'
"“" *
-fc
-—
:
M i l C lM s tiiu t StfwM;
* i§ ^ f* i* iiii'
P H IL A D E L P H IA
BANKERS
# * * ■ & * * * :$ p r f f e '.l i i i i i j l j A P
of Bonds purchased
#on d«
fo r
In v e s tm e n t
*• eemend sttw s sompwlwedw Net ot seMfsjj? ssUstsd
eevMUMBt. MsnMpel, Beamed end
®P*«
'mm
piMMd , » mod * * * & # * '+ p a m f'* •
■ » •
HARRIS, R
•
'
'
A
Ml IW Y O R K
Underwrite Entire Bond l»ue* of Street Railway, Electric
Situated in the Larger Citio
HIGH
mm
^ n w V Y * * ‘:k':'v
iifin S t.
P '
f'i'-iP
' ”
•
'
WWmmm' ■■■
■■
m
"*v . f 1 <
^ i , f f '
a it
‘
SECTION
OF
Commercial
\7
THE
Financial Phronicle.
&
■
ml>ra
MmpaaHnmvnni
war————
Copyrighted Id 1920 according to Act of Congress, by WILLIAM B.DANA
COMPANY, In office of Librarian
Vol. 111.
NEW YORK, OCTOBER 30,
Electric
means
Railway
Section.
The Electric Railway Section, Issued twice a
year, on the last Saturday
April and October, is furnished without extra charge to every annual
subscriber of the Commercial & Financial Chronicle.
The
1920.
No. 2888.
that registered certificates without
coupons as well as
bonds are outstanding.
The letters "p.m." mean
mile, thus $15,000 p.m. means that the issue of bonds is
per
restricted to $15,000 for each mile of track.
Railway and Industrial Section, issued twice a year on the last
Saturday of May and November, is also furnished without extra charge to
every annual Chronicle subscriber.
-
guaranteed, and "guar.
The Railway Earnings Section, issued
monthly, containing the sworn
returns of earnings and expenses of the steam
railways of the United States
filed each month with the Inter-State Commerce
Commission, is likewise
furnished without extra charge to every annual Chronicle subscriber.
each bond.
to
"Red."
letters—tf
tion, is likewise furnished without extra charge to Chronicle subscribers.
Chronicle, including the six supplements above named,
File
covers
postage).
for the Chronicle
File
CHICAGO
are
sold at
one
OFFICE.—19
South
La
LONDON OFFICE.—Edwards &
WILLIAM
B.
DANA
Salle
(which in¬
price.
same
Smithy 1 Drapers' Gardens, E. O.
Front, Pine and Depeyster Streets, New York.
meaning
TIONS
The
following is
of
sentation
the
USED.
explanation of the terms and
an
abbreviations used
ABBREVIA¬
on
succeeding
statements
of
the
different
518, 619.
tax-free.
The
See
Where there is
are
Revenue
Act
of
1918
ntf,
meaning
tax
paying the tax,
we
covenant
tax-free,
not
tff
4%.
we
company
least for the present.
this
Only
we
from
have
or
no
is
that
means
general
very
Tax
p.
insert the
has assumed
possible.
are
107,
free
means
Where
insert tbe letters cpt, which
like
by the
of Act in V.
terms
no
exemption
features of mortgages are so varied and diverse that,
more
definite information is out of the question.
"DATE."—The date of issue on the face of the bonds is
com¬
"INTEREST."—Under this heading is given the rate per
cent
yearly of the interest payable
teed) of the dividend payable
"Stock."—The amount of stock authorized
provision in bond
a
to make the interest free from
seem
normal Federal income tax up to'
pre¬
panies:
"STOCK AND BONDS."—Under these words
"tr."
or
indicated under the word "Date."
in the
pages
"Trus."
that all further Federal income taxes shall be met
differentiations
TERMS AND
redeemable.
as
on
(approved Feb. 24 1919) provides, however, that only one
normal 2% income tax shall be deducted at the source and
company pays tax, at
EXPLANATIONS OF
being endorsed
guaranty
knowledge other than that the
Publishers,
means
guaranteed
the Federal income tax, we indicate the fact in
black-faced
letters
Street.
COMPANY,
mortgage which would
recipient of the income.
dollar each (which includes
for Supplements can be had at
covers
$13.50
means
"Guar."
means
trustee of the mortgage.
TAX EXEMPTION.—Where there is
The Bank and Quotation Section, Issued
monthly, is also furnished
without extra charge to every annual subscriber of the
Chronicle.
The Bankers' Convention Section, issued
yearly, giving the detailed
proceedings of the annual convention of the American Bankers' Associa¬
& i. (end.)"
means
or
.
p.
principal and interest, the
The State and City Section, issued
semi-annually on the last Saturday
of June and December, is als© furnished without extra
charge to every annual
subscriber of the Chronicle.
Terms for the
Congress, Washington, D.C.
coupon
n
are Ten Dollars
per annum within the United States,
cludes postage) in Europe, and $11.50 in Canada.
of
mi iimin
shown:
when the interest
6%
the bonds
on
or
(if
guaran¬
the stock; also the months
on
dividend is payable; thus "6 J-J"
or
means
lows the word "stock," and against this is the
par value of
payable January and July; correspondingly,
"F-A" is used to mean February and
August; "M-S" means
single shares.
March and
immediately fol¬
For example, "Stock, $500,000 ($100),"
per annum
lature, $500,000, divided into shares of $100 each; "f. p." fol¬
September, and so on; while "Q-J" means quar¬
terly beginning in January, and "Q-F" quarterly beginning
in February.
(The day when the interest payment is due
lowing the amount given
can
stock, total issue authorized by charter
"Pref."
means
means
by Act of Legis¬
or
as outstanding means "full paid."
"preferred stock." "Pref. 6% cum." means
preferred stock entitled to dividends of 6%
per annum,
such
dividends if not paid
accumulating, all dividends due and
unpaid to be paid in full for each and every year before the
common
means
stock
receives
anything.
simply that the stock is entitled
earned, but that if unearned in
year
"Pref.
any year
will not be paid subsequently.
The last dividend
to
6% non-cum."
6%
per annum
if
the dividend for that
"Div."
means
dividend.
paid is shown under the column headed
"Maturity."
"Gen. M."
"con.
or
means
amount next
M."
or
means
"M."
"Coll. tr."
means
consolidated
general mortgage.
funding mortgage.
"Ref. M."
means
means re¬
collateral trust.
following is the total authorized
The
parenthesis.
The word
"gold" is usually spelled out, but in some instances
contracted to "g.," while "cur." means
currency.
convertible into
means
sinking fund,
may
second
rail
"c."
be registered
as
(no coupons); "r*"
bonds; "c*&r*"
vertible from
means coupon;
to
"S.
f."
means
means coupon
means
registered, convertible into
coupon or
the
but
fully registered
coupon
registerable in either form and
registered to
"c*"
principal; "r"
means
means
stock.
reverse;
con¬
and "c*&r"
track.
"Rails
weighs 80
watts,
and
"track"
are
80-lb.
pounds to
"h.p."
kilo-volt-amperes.
prepayment
the
means
means
in
girder"
yard,
"P-A-Y-E cars"
street
railway
siding, switch
means
"k.w."
horsepower,
means
or
that each
kilo¬
means
"k.v.a."
means
pay-as-you-enter
cars.
"Exts., add'ns and impts."
and
improvements.
"Oth.
means
extensions, additions
means
"Auth."
ized.
authority
means
or
author¬
"Cal.
year."
calendar year.
inc."
means
other
income.
REFERENCES TO "CHRONICLE."—This supplement
amount that
be issued under the mortgage.
The denominations in
which the bonds are issued
usually follow in
"Conv."
"ROAD."—The word
parlance all tracks, whether main line,
mortgage.
mortgage.
can
is
semi-annual.
or
"Bonds."—"Mort.," "mtge."
"Consol."
generally be determined by noticing when the loans
mature, the day of the month there given being in most cases
the same as for one of the interest dates.)
"S.-a." means
is
expressly intended for
ment
news
in the "Chronicle."
in connection with the invest¬
published from week to week
Frequent reference is therefore made
to the volume and page
000),
use
and official reports
of the "Chronicle"
where fuller information
also each statement is
given
item in the "Chronicle"
such item contains
the reader
can
in black-faced
run
a
a
may
(V. Ill,
reference to
company.
the last
p.
Following
reference to the latest
respecting the
back at pleasure.
figures.
as
be found.
As
news
every
preceding item,
Annual reports
are
SECURITIES AND REPORTS
This is one of oiir six Sections or Supplements.
In using the series it is to be remembered that they are inter-dependent
publications, complete only as a whole.
If utilized together, and with the fresh items of news the "Chronicle" contains from
week to week, the investor will have all the information he needs in seeking a safe and remunerative lodgment for his money
A full Index
showing where each company will be found is given in the closing page3 of the book.
The
AKRON, OHIO.
NORTHERN OHIO ELECTRIC CORPORATION.—A holding co.
toeorp. In New York on Oct. 18 1910 and owns over 99%of the common
stock of the Northern Ohio Trac. A Lt. Go.
Also controls the Kent Water
& Light Co.
CAPITALIZATION.—75,000 shares of common stock (no par value >
16.000,000 6% cum. pref. stock (par $100); pref. as to assets and divs.'»
callable at 105 and divs.; divs. payable Q.-M.
Dividends on pref. stock*
were begun Mar. 1 1917. and paid regularly to and Incl. Dec. 1919.
Non
since—see below.
■
.
„
„
Hodenpyl, Hardy A Co.. Inc., N. Y.,
and E. W. Clark & Co., Phila.,
under whose direct supervision and management the properties are oper¬
ated, brought out the $6,000,000 pref. stock in Oct. 1910 on the basis of
10 shares of pref. and 5 shares common stock for $1,000.
The co. in 1910
obtained a loan of $4,000,000 for one year, and pledged as security therefor
approximately $9,000,000 com. stock of the Northern Ohio Traction & Light
Owing to unfavorable financial conditions attributable to the war,
was renewed from year to year,
A plan (see V. 110, p. 202) pro¬
viding for the issuance of $4,000,000 additional pref. stock and a reclassi¬
Co.
this loan
fication of the present pref. stock was devised under which the co. would
have been able to pay off this loan on Feb. 1 1920.
However, as the num¬
received for the new stock was insufficient, it was de¬
cided to abandon the plan.
The loan has befen renewed for one year to
Feb. 1 1921 and $300,000 has been paid on account.
The co. is to make
ber of subscriptions
like payments quarterly, which amount is approximately the equivalent
of the 6% div. on the pref. stock, which the co. has agreed to defer until
such time as financial conditions will permit of the sale of securities to meet
the
payment of the loan. V. 110, p. 1188.
EARNINGS.—Of constituent companies for calendar years:
Year—
Gross
Expenses.
Net,
Charges.
Surplus.
1919--.-$9,298,550
$0,183,197
$3,115,353
$2,018,673 $1,096,680
1918-—.— 7,293,811
4,814,042
2,479,708
1.773,637
706.131
—V. 106, p. 112V; V, 107. p. h0V. V. 109, p. 88&, 2176; V. 110, p, ,262,1188.
Northern Ohio Traction Sc Light Co.
Over 99% of the com. stock Is owned by the
entire
capital stock of Akron Wadsworth & Western Trac. Oo. and
EiaranteesIn March 1909. and int. Common stock listed on N. Y. Stock
xchange its bonds prln.
Franchises.—The electric light and power properties are operated under
rights without specified limit as to duration.
City railway franchises expire
as follows: Akron, 1924; Canton, 1928; Massillon, 1932.
65% of the interurban trackage is on private right-of-way or subject to franchises without
time limit; franchises for remaining interurban mileage expire from 1920
to 1944.
In Oct. 1917 renewed for 5 years a contract for lighting city
of Akron.
*
Valuation —See V. 110. p. 2488.
Fares.—In Sept. 1917 filed a new schedule of interurban passenger rates
with the Ohio P. U. Commission, raising the rates generally to 2c. a mile.
^
V. 105, p. 998.
In Sept. 1918 was auth. by the Ohio P. TJ. Comm. to
Increase interurban fares to 2)4 cents per mile where no local franchises
conflicted and on Mar. 3 1919 to 3 cents where franchises permit.
On
—
the
co.
a
"
111,
JUO
Uwy
Ul
ivxcusbuiuii uao
tww o-uvu
•
lawco,
p.
6-eent
1279.
1
In June 1919 brought out an issue of $4,600,000 7-yr. 6% gold bonds to
provide for the payment of $2,995,000 1st M. 5s which matured on July 1
1919 and to reimburse the co. for construction expenditures.
In connec¬
tion with this financing, $1,450,000 7% secured serial bonds were called
for payment July 10 1919.
V. 108. p. 2433.
In June 1920 the co. issued $2,000,000 6-yr. 7% secured bonds to retire
the $840,000 Canton-Massillon Elec. Ry. 5s due May 1 1920 and to provide
funds for capital expenditures. V. 110, p. 2193.
STOCK AND BONDS-—
Stock, com, $10,000,000(1100)
Pref ,$10,000,000($100)6 % cum
J/U ypLlUM
1st lien A
Dale,
...
Interest. Outstanding.
See text
......
Q-J
.
Maturity.
See text
$5,451,600 Oct.'20, 1
5 g F-A
1916
ref. mtge, g, ($100,1
ntge,
4.616,000 Aug 1 195
Int. ?ayaole In N. Y, or Cleveland.
), Ac.)_c*Ar».
$500, $1,000, Ac,
1903
4«5gJ-J
Northern Ohio Traction A
2,224,000 Jan
11933
Light 1st consol ($1,000).- Int, at Oit. Sav. A Tr. Co., Clove., Trustee,
or at First Nat. Bank, New York.
gold. $7,500.000
c*.tf
1906
5 g
Ak Wads A West mortgage.
See text July 1 1933
$500,000 guar ($1,000) ..tf1
Secured 6% bonds see text)
1919
6gJrDl 4,740,000 June 1 1926
($100, $500 & $1,000) gc*_tf {Bankers Trust Co., N. Y.. Trustee.
Secured 7% bonds, see text! 1920
7 g J-D
2,000,000
June 1 1926
($100, $500 A $l,000)gc*tfj
National City Bank, N. Y., Trustee".
Car trust certfs, $1,000,0001 1920
8 g F-A
1,000,000
See text
($1,000) gold
c* I Divs. at Fidelity Trust Co., Phila., Trustee.
Stock.—Of the common stock, $9,100,090 is outstanding. In addition to
which $899,910 has been subscribed for but not yet issued.
The pre¬
ferred stock is redeemable, all or part, at 110 and div. on any div. date.
Is
ref. as to div. and assets and has full voting power,
v. 92, p. 956; V.
_
8F p.
ad
•
48; V. 97,
p.
1116.
Bonds.—Additional 1st lien and ref. bonds may be Issued (a) par for par,
for refunding or acquiring the $5,709,000 underlying bonds; (b) for
85%
of cost of new construction, additions, betterments and extensions and
(c) tor 85% of cost or replacement value of additional properties, under
conservative restrictions.
The bonds are secured by mortgage on entire
property, subject to underlying liens, and by deposit of $4,000 of 5s and
$4,270,000 of 48 of Nor. Ohio Trac. & Lt. bonds of 1933, $1.431,000 CantonAkron
con.
5s of 1933. $200,000 Akron Wads. & West 5s, $855,000 Canton-
$5,925,000 are pledged as security for the $4,740,000
7-yr. 6% bonds and $2,500,000 under the $2,000,000 6-yr. 7% bonds. Red.
as a whole, or in part, on any int. date at 105 and
Int.
The mtge. pro¬
vides for a maintenance and depreciation fund of 20% of gross earmngs for
maint. and replacements, or for additions and betterments, against which
no bonds may be issued; also provides for an insurance reserve for
damage
claims, Ac., of 4% of gross earnings until $100,000 is reached, at which
figure the fund is to be maintained.
Trustees are New York Trust Co.,
N. Y., and Citizens Savs. A Trust Co., Cleveland.
V. 103, p. 1210.
Of
the Northern Ohio Trac. A Lt. consols $996,000 are 5s, all outstanding;
the rest 4s.
The 7-yr. 6% bonds are secured by a pledge of $5,925,000 1st
lien A ref. 5s.
Additional 7-yr. bonds may be issued from time to time
under certain conditions upon the deposit of cash or the pledge of 1st lien
A ref. 5s in the ratio of 125 %.
Red. all or in part at any time upon 30 days'
notice. V. 108, p. 2433. The 6-yr. 7% bonds are secured-by a pledge of
$2,500,000 1st lien A ref. M. 5s.
Additional 6-yr. 7s may be issued from
time to time against the deposit of cash or a similar pledge of 1st lien A ref.
bonds under certain restrictions.
A sinking fund of 1 % semi-ann. becomes
operative Dec. 1 1920.
Red., all or in part, any time upon 30 days' notice
at 101 and int. V. 110, p. 2193.
Akron 1st 6s of 1922.
of Federal income tax upon the various issues of the
pany's bonds.
;
,
com¬
.
CANTON-AKRON CONSOLIDATED RAILWAY.
Date.
STOCK AND BONDS—
Oonsol M $2,500,000. gold,
Interest. Outstanding.
Maturity
1906
5 g J-J
$779,000 Jan
I 1933
guar p & I by North Ohio Int. at Citizens Sav. A Trust Co., Cleveland,
Trac & Light ($1,000) c'.tf
Trustee, or First Nat. Bank. New York.
1902
5 g M-8
1,145,000 Mar 1 1922
Canton-Akron 1st mortgage,
.
$2,000,000.g ($1.000)c*_tf In*. at Columbia Tr.Co., N. Y.. Trustee
1903
5 g F-A
565,000 Feb
1 1923
1st M Can A N P. $1,000,000
gold ($1.000).
c*„tf Int. at Am. Ln. A Tr. Co., Boston, Trustee.
Bonds.—Of the $2,500,000 consolidated bonds, $1,331,000 are pledged
onder.N. O. T. Sc L. 1st A ref. mtge., and $290,000 are reserved for extens.
S. Reed Anthony, Boston, is also trustee. V. 91,
p. 1628, 1765.
Certain of the Canton-Akron Consol. 5s are red. at 10234
and int. on 4 weeks' notice and others at par and int.
The Canton-New
Philadelphia bonds may be called as a whole at 105 and int. on 3 mos.'notice.
and imp. at 85% of cost.
Dividends.—Pref. stock was issued in 191 i and dividends of 1H% quar.
regularly paid.
Dividends on com. were begun in 1906 by the declara¬
tion of 2%, payable in quar. installments
of 34% from June 15 1906.
V. 82. p. 1213.
ln 1907 2% was again declared, payable in quar. in¬
stallments from June 151907.
In 1908, June, 34 %; Sept., Y*.%\Dec., 34 %.
are
1909, 134%.
In 1910, 234%.
In 1911, 334%.
In 1912. 4M%,
In
1913 to 1916, 6% per annum.
In 1917, March, 134%; May, 134%;"Aug.,
ln
134 %J Nov., 134%.
Practically all of the common stock being owned by
the Northern Ohio Electric Corp., dividends are no longer reported.
PLANT.—Line extends from Cleveland through Akron, Canton, Mas¬
sillon and New Philadelphia to Uhricbsvllle ln Tuscarawas County, with
to
Ravenna
(via Kent), to Wadsworth (via Barbarton) and to
On Dec. 31 1919 operated 242.20 miles of
East Greenville from Massillon.
track, and operated 5 miles under trackage rights affording an entrance into
Cleveland.
Owns Lakeside Park in Akron and Meyers Lake Park in
Canton.
Also owns 1,011 acres of coal land in Noble County.
Rails,
70
to
114-lb., standard gauge.
84 interurban, 265 city and 37 miscel¬
In April 1920 placed an order for 111 cars. V. 110, p. 1849.
Does
the
exclusive
commercial
electric
light
and
power
business
in
Akron
and
supplies energy, directly or indirectly to 18 other
communities.
2 generating stations with an aggregate installed capacity
laneous cars.
of
69,175 k.w.; 17 sub-stations.
A 4-story office building and passenger
1918.
terminal in Akron was opened May 1
REPORT.—For calendar years:
Calendar
Gross
Net, after
Year—
Earnings..
Taxes.
Fixed
Charges.
-$9,227,840 $3,049,325 $1,393,436
7,224,142
2,418,450
1,180,326
1919——
1918
Preferred
Balance,
Dividends.
Surplus.
$318,720 $1,337,169
308,760
929,364
OFFICERS.—Pres., B. C. Cobb, N. Y.; V.-P., T. A. Kenney, N. Y.;
& Gen. Mgr., A. C. Blinn; Sec., Chas. H. Lahr; Treas.. James
Sweeney; Asst. Sec. A Asst. Treas., S. E. Wolff and G. H. Bourne: Gen,
Aud., G. B. Dobbin.—V. 109. p. 371, 477, 1366; V. 110, p. 765.1749,1849,
2193, 2488, 2658; V. Ill, p. 494, 693, 793, 1279.
V.-P.
May 31 1919 an ordinance Increasing fares from 5 to 6 cents was submitted
to tne people of Akron and defeated by a vote of about five to one.
V. 108.
p. 2241, 2330.
The co. in June 1920 submitted a tentative service-at-cost
franchise plan to the P
TT Committee of Akron, for details of which see
V. 110. p. 2488; V. Ill, p. 793.
On July 16 1920 the Akron City Council
amended the co s franchise so as to allow it to charge a flat 5-cent cash fare
for a temporary period.
In Aug. 1920, however, a member of the Council
applied for an injunction to restrain the co. from collecting the straight"
decent fare. V. Ill, p. 494, 693, 793.
The Canton City Council in Aug.
^—
trust certfs. of 1920 are due serially $100,000 each Feb. and Aug.
for the payment
branches
Northern Ohio Electric Corp.
ORGANIZATION.—Incorp. in Ohio In Dec. 1902 as successor to the
Northern Ohio Traction Co., having exchanged Its securities for the com¬
mon and pref. stock of the latter per terms In V. 75, p. 733.
In 1906
acquired control of the Canton-Akron Oonsol. Ry., ana guarantees that
company's $2,500,000 consol. 5s, prin. and Int. V. 83, p. 435, 849.
Also
owns
car
1921 to 1925.
Are secured on equipment costing over $1,340,000.
Red.,
all or in part, an any div. date on 30 days' notice at 101 and div. V. Ill, p.
494.
On Jan. 24 1914 stockholders approved action of directors In providing
ALBANY, N.
Y.
UNITED TRACTION COMPANY.
Entire stock (except 4 shares) is owned by The Delaware A Hudson Oo.
V. 81, p. 1552; V. 82, p. 160.
The D. A H. also owns the entire stock of the
Troy A New England RR. and the Plattsburg Traction Co. and a half
interest in the Schenectady Ry., the New York State Rys. owning other half.
ORGANIZATION.—Chartered Dec. 30 1899 as a consolidation of the
Albany Ry. (chartered in 1850), the Watervliet Turnpike A RR. (chartered
in 1862) and the Troy City Ry. (chartered in 1850).
See V. 69, p. 1147,
1300; V. 70, p. 77.
Operates under leases to the constituent companies,
the Troy A Conoes RR., Lansingburgh A Cohoes RR., Waterford A Cohoes
RR., Cohoes Ry. and the Capitol Ry. Owns 97% of the stock of the
Hudson Valley Ry., 71% of the Waterford A Cohoes RR., 80% of the
Forest Park Ry. and all the capital stock of the Capitol Ry., Cohoes Ry.
and Great Western Turnpike Road.
|
The Cohoes City Ry. was sold at foreclosure in 1904 and reorganized as
Cohoes Ry. Co., with $120,000 stock and $84,000 bonds; all of the Btock
and bonds are deposited with the Central Trust Co. of New York as security
for bonds of the Albany Ry.
Acquisition of Hudson Valley.—In Dec. 1906 acqulrdd a majority of the
stock and bonds of the Hudson Valley Ry. Co. ana increased its own stock
from $5,000,000 to $12,500,000 to finance the purchase.
V. 84, p. 52.
Franchises perpetual except that of the Capitol Ry. (a short line on the
outskirts of Albany), which expires in* 1951.
Traffic Agreements.—Has traffic agreements with the Albany Southern
RR., Schenectady Ry. and Hudson Valley Ry. by which cars of the firstnamed road are run into Albany from Rensselaer, cars of tbe Schenectady
Ry. into Albany .Troy and Watervliet, and cars of the Hudson Valley Ry.
Into Troy from Waterford and in Albany.
Electric power is furnished under contract by Adirondack El. Pow. Corp.
In Aug. 1918 was auth. by the N. Y. P. S. Comm. to increase fares in
Albany, Troy, Rensselaer and other places from 5 to 6 cents and to 12
cents for Rome of the longer rides. See V. 107, p. 697.
In Jan. 1920 fares
in these places were Increased from 6c. to 7c. and from 12c. to 14c. with the
auth. of the P. S. Comm. V. 110, p. 360.
Neither the company's 434% debentures, due May 1 1919, nor the
Watervliet Turnpike A RR. 1st and 2d mtge. 6s had been retired to April
1920.
No later information.
Hate.
Interest. Outstanding.
Maturity.
$109). $12,600,000
4 J-J
*12,500.000
See text
-1901
434 gM-N
456.000 May 1 1919
gold
r-ntf Int. at National Commercial Bank, Albany.
Cons mtge, $0,500,000# gold ,1904
434 g J-D
2,620,000 June 1 2004
($1,000)
--c* tf. Int. at Centra* Trust Co., N. Y„ Trustee.
j5 g J-J
428,000 Jan 1 1930
Albany Ry cons M ($500.000 / 1890
lift, at Central Trust Co., N. Y», trustee.
.ntfl
gold"
-c»_
5 g J-D
496,000 June 1 1947
Albany Ry gen M $750 .000J 1897
STOCK AND BONDS—
Stock (par
**
_
Debentures,
($1,000).
$?,250,000,
,
_
($?,000)_
Int. at Central Trust Co., N. Y., trustee.
gold
Turnpike A RR— \ 1889
6 M-N
350,000 May 1 1919
ntf jBoston Safe Dep. A Tr. Co., Trustee.
2d M. p & int guar.__.ntf/ 1890
6 M-N
150.000 May 1 1919
(Metropolitan Trust Co.. N. Y., Trustee.
Troy City 1st con M, gold.) 1892
5 g A-O
2,000.000 Oct 1 1942
$2,000,000-.
c*&rflnt. paid by Trustee. Central Trust Co.JST.Y.
Watervliet
1st
M
guar
..
,
Bends.—Of the consol. mtge. of 1904, $3,880,000 is reserved to retire prior
liens.
No sk. fd. and bonds are not subj. to call.
Directors may fix rate of
int. on unissued bonds "
debs, may be called on
tbe unexpired term as
The Albany Ry. general mortgage of 1897 was for $750,000. of which
$254,000 was reserved, but consolidation made reservation inoperative.
Tbe Troy City leaded roads include Troy A Coboes, stock $50,000, diva,
under lease, 7%; Lansingburg A Cohoes, stock, $15,000: divs. under lease,
7%.
The Waterford A Cohoes RK. $25,000 stock receives 7% yearly
under lease.
l- *
oct., 1920. j
ELECTRIC
DIVIDENDS.—First
quar. div., 1H%. was paid May 11900; same rate
continued up to and incl. Nov. 1905. For
year 1906 8H% was paid.
On
Dec. 31 1906 stock was Increased from
$5,000,000 to $12,500,000 and dlvs.
made semi-annual (J.-J.) and
4% was paid in 1907. 2% Jan. 1 1908 and
2% each six months thereafter to and incl. 1913
In 1914,2%. Nonesince.
ROAD.—Operates 62.829 miles of first main line track and
operates in
all 112.397 miles of
track, of which 94.238 m.
owned, connecting Albany,
Troy, Cohoes, Rensselaer. Watervliet,
Lansingburg, Green Island, Waterford, &c.
Rails, 47 to 141-lb.
Girder and T.
Standard gauge.
Has 480
cars.
EARNINGS.—For cal.
Year—
1919
'
years:
Gross.
Net.
;
1918—
8312,991
318.640
$274,520
1 90,740
$763,241
642,120
jl) Hudson Valley Railway.
ORGANIZATION.—Incorp. Aug.
14
1901
as
a
consolidation
of
the
Glens Falls Sandy Hill & Fort Edward
Street Ry. .Warren County Elec. Ry.,
Stillwater & Mechanlcville Street
Ry., Greenwich & Schuylerville Street
Ry., Saratoga Traction Co. and Saratoga Northern
Ry., the capital stock
of these roads being
exchanged for stock in the new company.
V. 73. p.391.
Owns entire capital stock of Warren
County Elec. Lt. Ht. & Pow. Co. and
all the stock ($200,000) and all the
bonds (8200,000) of the North River
Ry-, a road operated in Saratoga by this co.
Franchises perpetual.
Financial Readjustment.—A readjustment of the
company s finances was
effected In 1906 without foreclosure as
per plan in V. 82, p. 100. 1040.
In
March 1906 $2,500,000 5% non-cum.
pref. stock was created to provide for
the convertible features or the debenture "B"
bonds.
V. 82, p. 751.
Traffic Agreements.—Has traffic agreements with the United Trac.
Co.,
and Greenwich & Johnsonville
Ry., by which cars of the Hudson Valley
Ry. Co. are run over the lines of the United Trac. Co. from Waterford
to Troy and also in
Albany, and cars of this company are run over the
Greenwich & Johnsonville at
Thomson, N. Y.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common, $3,000,000. par $100 ....
$2,978,300
Preferred
($2,500,000
(seel
See text
text), 5% non-cumulative. I
-
—
consolidated
mortgage/ 1901
5 g J-J
2,222,000 July 11951
(denomination(Interest at Manufacturers' Nat. Bk., Troy.
c*tf IMay be called at 110 & int. on any Int. date
$4,000,000
$1,000 gold)
Deb "A" Income.
Deb MB" Income,
$700.000..
$2,500,000.
additional miles of overhead trolley road in Hudson.
Total, 61 miles of
track.
In Feb. 1900 made contract
giving it privilege to enter Albany over
the tracks of the United Traction of
tween
park at Kinderhook Lake.
OFFICERS.—Pres.. William Loeb Jr.; V.-P., Richard Sutro; Sec. and
Treas., Irvin W. Day; V.-P. and Gen. Mgr., James E. Hewes.—V. 107,
p. 80; V. 108, p. 169; V.410, p. 2290; V. Ill,
p. 72, 293, 587, 1660.
1906
5 g
2 g
1906
J-J
J-J
474,000 Jan
2,500.000 Jan
1
LIGHT
&
RAILWAY CO.
ORGANIZATION.—Incorp.
railway and
and community, serving a
population of 15,000.
Also supplies power
for the operation of 12 miles of the Oentreville &
Albia Ry. Co.
New power
units and 22 miles of transmission lines were
placed in operation March 15
1918, with contracts to furnish power for 4 large coal mines and the mining
communities located at these mines.
Franchises expire in
1942,
STOCK AND BONDS—
Com stock $400,000 ($100)
•
($150,000)nttj 1901
do
do
6 A-0
82,000 April 1 1921
IMay be called at 100.
1893
6 A-O
47.500
past due.
(Bankers Trust Co., New York, Trustee,
mtge--\ 1898
6 A-0
202,500
past due.
mortgage../
consol
fGlens Falls Trust Co., Glens Falls. Trustee.
Bonds.—Of the $4,000,000 M. of 1901,
$482,000 are set aside for prior Hens
and $1,290,000 have been deposited as coll. for
temporary loans.
The deb.
"B" bonds were conv. into
pref. stock at par to March 1 1917. Int. on
the deb. "A" and "B" bonds is neither cumulative
nor
has
obligatory.
been
No int.
paid on either class.
The G. F. S. H. & F. E. 1st M. fell due
was extended and is now
past due; 2d M. fell due July 1
Both issues of Stillwater & Mechanicville bonds fell due
April 1 1913
July 1 1911. but
1913.
EARNINGS—
Year ending—
Operating
Net
Other
Charges & Balance.
Earnings.
Income.
Taxes.
Deficit.
$191,285
$5,651
$432,822
$235,886
Dec. 31 1918
234.890
5,705
358,959
118,364
ROAD.—Main line extends from Troy northward
along the Hudson
through the villages and towns of Waterford, Mechanicville,
Stillwater,
Schuylerville, Thomson, Fort Edward, 8andy Hill, Glens Falls and Cald¬
well to Warrensburg.
The Saratoga Division, which branches off the
main line at
Mechanicville, provides a line from Troy to Round Lake,
Ballst-on Spa and Saratoga, with a branch from
Saratoga 8jprings to Glens
Falls, which branch was completed In June 1903.
There Is also a branch
line from Saratoga Springs to Kaydeross Park on
Saratoga Lake and an¬
Dec. 31 1919
,
Revenues.
.$1,118,942
1,126.064
other from Thomson to Greenwich.
Total first track, 121 62 miles; second
track, 17-54 m.; sidings, 8.74 m.; making a total of 147.90 miles of
track,
124 34 miles are owned.
Rails. T. girder and grooved, 48 to 141
lbs.
Standard gauge: 70% on private right of
way.
Operates 127 cars,
including 3 freight and 24 service cars.
Company owns Kaydeross Park, at
Saratoga Lake, and Ondawa Park, between Greenwich and
Thomson.
OFFICERS.—Same as for United Traction Co.—V.
89, p. 286; V. 108
of which
P.
1274.
ALBANY
SOUTHERN RR.—Third rail, except In cities.
ORGANIZATION.— Incorporated In New York
Sept. 14 1909 and is a
reorganization of the Albany 8c Hudson RR. Co. sold under foreclosure on
Sept. 8 1909 (per plan V. 89, n. 223).
On Sept. 18 1909 merged Albany 8c
Greenbush Bridge Co.
V. 89, p. 720.
Franchises are perpetual.
Does a
passenger,
freight and express business and supplies light and
power
along route.
New Financing Plan.—The co. having found the closed 1st
mtge. of 1909
inadequate, the bondholders were informed on May 1 1920 that approval
had been asked of the N. Y. P. S. Comm. of the
following plan of exchange
and deposits of bonds were requested.
(See also V. Ill, p. 293, 587)'.
Terms of Exchange.—1st mtge.
bondholders, on the plan becoming
operative, will be entitled to receive in exchange for each
$1,000| bond:
(a) $200 cash and $800
interest from March 1 1920
(b)
$1,060
March 1
par
1st ref. mtge. bonds, bearing
or
value 6%
1st ref.
mtge.
1930.
bonds, bearing
interest from
The 1st ref. mtge. 6s referred to were auth.
by the N. Y. P. S. Comm. in
June 1918 and $700,000 were issued and
pledged as security for
$550,000
3-yr. 7% notes.
The plan provides for the retirement of these notes and
the $700,000 1st ref. bonds pledged thereunder will be released
for Issuance
under the plan.
In addition to the 1st & ref. bonds to be issued in exchange
for old bonds $250,000 may be issued without
restrictions other than those
imposed by the P. S. Comm.
V. 110, p. 2290; V. Ill,
p. 293.
Under
date of Oct. 18 1920, we were informed that while the above
plan had not
yet been declared operative a majority of the outstanding bonds had been
deposited.
V. Ill, p. 1660.
Fares.—In
Nov.
effective Dec. 1
1918 the P.
S. Comm.
1918, providing for
a
auth.
a
new
schedule of rates
% cents per mile,
In July 1920 was auth. by
per mile with a minimum fare of
trip rates to be double the one-way fares.
the P. S. Comm. to increase fares to 3 lAc.
5c.
V. Ill, p. 72.
STOCK AND BONDS—
DcUe.
Interest.
Outstanding.
Common
daturity.
$1,375,000 ($100)
$1,375,000
Pref $2,100,000 5% n-c ($100)
F-A
2.029,000 Aug *11,
First
mortgage
$1,500.0001 1909
5 g M-S
1,394-000 Sept 1 i_
gold ($1,000)—
c* tffBankers Trust Co., New York. Trustee.
First
Ref Mtge
$3,000,0001 1918
6 g M-S
See text
Mar 1 1948
gold ($1,000)--—
-.{Empire Trust Co., New York, Trustee.
Three-year
notes,
$550.0001 1918
7 g M-S
550,000 Mar 1 1921
gold ($1,000)
/Brooklyn Trust Co., New York, Trustee.
...
Bonds.—Recording tax paid, making them tax-exempt in New York.
Sink,
fund of 1M% of bonds authorized from 1917 to
1921; 1922 to 1928, 2%;
1929 to 1938. 3%.
$106,000 in sink, fund Oct. 1 1920.
Callable as a
whole at 106 and int. on any int.
day.
V. 89. p. 1140.
Of the 1st Ref.
6s, $700,000 have been issued and are pledged under the
3-year 7% notes.
Notes.—■The 3-year 7% notes are secured
by a deposit of $700,000 1st
Ref. 6s.
In Oct. 1920 these notes we
understood,
DIVIDENDS.—initial semi-annual
dlv.
1911Aug., H%; none since.
REPORT.—For year ending Dec. 31:
Fiscal
Year—
Gross
on
were
pref.,
held in co.'s treasury.
1H%. paid Feb. 1
.
Net (after
1919
Earnings.
$690,850
Taxes).
$166,016
1918
652,872
151,207
Interest,
Rentals.
&c.
$114,733
105,156
Outstanding.
Maturity.
on
pref. stock
were
paid from Aug.
None since.
EARNINGS.—Years ending Dec. 31:
Cal. Year—
Gross.
Net,aft.Tax.
$133,900
$37,811
Bond Int.
Surplus.
$17,500
$20,311
16,250
14,215
♦Earnings were adversely affected by the coal strike during Nov. and
Dec. 1919.
It is estimated that net earnings would have been
$3,500 more
*1919-—
,
-
1918
104,268
30.465
had not this trike occurred.
ROAD.—Operates II miles of street railway connecting Hocking, Albia
60 and 70-lb. T rail; standard gauge.
OFFICERS.—Pres.. Albert L. Fowle; V.-P., Merle R. Walker; Sec.,
M. A. Day, all of 61 Broadway, N. Y.
City; Treas. & Gen. Mgr., Ralph
W. Boyer. Albia.—V. 103.
p. 939; V. 105. p. 496.
and Hltem&n.
allentown, pa.
LEHIGH
POWER
SECURITIES
Balance,
Surplus.
CORPORATION.
ORGANIZATION.—Incorp. July 19 1917 in Del.
and has acquired:
All the stock of the Lehigh Navigation Electric Oo. (formerly con¬
trolled by the Lehigh Coal & Navigation
Co., which see in V. 105, p. 720).
and through such acquisition control of the Harwood Electric Co. and
other
subsidiaries; (ft) a substantial majority of both classes of stock of the Lehigh
Valley Transit Co., and through such acquisition control of the Lehigh
Valley Light & Power Co.; (c) approximately all the pref. and com. stocks
of companies formerly controlled
by the Northern Central Co.
In June
1920, however, the Penna. P. S. Comm. approved the joint agreement of
consolidation and merger of the following
companies: The Lehigh Valley
Light & Power Co., the Northern Central Gas Co., the Columbia & Mon¬
tour Electric Co., the Northumberland
County Gas & Electric Co., the
Harwood Electric Co., the Schuylkill Gas & Electric Co., the
Pennsylvania
Power & Light Co. (old
company) and the Pennsylvania Lighting Co.
into the „(new) Pennsylvania Powef &
Light Co.
All of the companies
(except the Pennsylvania Lighting* Co.) entering into the merger were
controlled by the Lehigh Power Securities
Corp. (compare V. 110, p. 1973).
The latter
company controls the Pennsylvania Power & Light Co. through
ownership of all its Com. stock, except directors' shares, and all its noncum. pref. stock.
The merger was effected in order to meet the growing
(a)
demand for service and to provide
capital with which to procure additional
for supplying this service.
V. 110, p. 2487.
The controlled
companies supply electric light and power to 31 cities and towns; gas
service to 13 cities and towns, and have charter
rights in 70 townships
17 townships are served by interurban railways.
Franchises generally, in;
the opinion of counsel, are free from burdensome
restrictions, and a very
substantial part of them is
perpetual.
For full description of properties.
&c., see V. 105, p. 498, and Lehigh Valley Transit Co. below.
See also
V. 105, p. 290 and 818.
Lehigh Navigation Electric Co. Bonds.—In connection with the acquisition
of control of this co. by the Lehigh Power Securities
Co., the mortgage of
the Lehigh Navigation Electric Oo. was closed, the Lehigh Coal & Navi¬
gation Oo. retaining ownership of the $3,000,000 Series
A" bonds issued
thereunder, but giving the Securities Corp. an option on the purchase of
facilities
the
same running to 1921.
Industrial Power Co.—This
co.
was
construction work that the Securities
STOCK AND BONDS.—
Date.
Stock 605,000shs (nopar val)_
Secured gold notes, $50,000,-1
1917
formed in 1919 to take care of any
Corp. may undertake.
Interest.
V. 109, p. 1793.
Outstanding.
305.000 shs
Maturity,
6 g F-A
See text Aug 1 1927
N. Y. Guar. Tr. Co.. N. Y., trustee.
000($ 100, $500&$1,000)c*tf /Int. in
Bonds of Controlled Companies in Hands of Public as
of Dec. 31 1919
Northern Central Group—
Date.
Interest.
Northumb. Co. Gas & El. Co.—
1st M. 8. f. bds., call. 105
any int. date
Hagerstown L. & H. Co. of
Wash.
Co.
1st
M. call
at
at 103 any int. date
Nor Cent Gas Co 1st &
Ref
any
int. date
Outstanding.
—
Maturity.
1911
5 g M-S
$1,139(000 Sept 1 1946
Int. at office of Henry & West, Phila.
1912
5 g F-A
291,000 Aug 11962
Int. at office of El. Bond & Sh. Co.. N. Y. O.
1912
5 g F-A
775,000 Aug 1 1962
Int. at office of El. Bond & Sh. Co.. N. Y. O.
,
Williamsport Gas Co 1st M__
1899
5 g F-A
400,000 Feb
Interest at Girard Trust Co., Phila.
Columbia & Montour El. Co.—
1st M call 105 any int date/ 1913
2d M call 105 any int date.i
1913
5 g F-A
5 g F-A /
577,200 Feb
567,500
Feb
1 1939
1 1943
1 1943
I Int. at office of El. Bond &Sh. Co., N. Y. O.
Lehigh Navigation Electric Group—
Leh N El Co ($10,000,000) 1st M:
"A" call 107H any Int date- 1913
"B"call at 100 any int dateHarwood Electric Co.—
1st M call 107 H any
one-way rate of 2
round
Interest.
Dividends.—Quarterly divs. of 1H %
I 1917 to and incl. May 1918.
$4,000,000. call at 105
value of 6%
par
Date.
$400 000
Pf 6% non-cum$100,000
($10)
Q—F
100,000
See text
1st M $500,000 gold
($1,000/ 1916
6 g J-J
350,000
1941
and $100)
c&r.cptllnt. at Empire Trust Co., N. Y., trustee.
Bonds.—Of the bonds reported
outstanding, $100,000 were issued to cover
new extensions.
Remaining bonds are for extensions and additions.
No
sinking fund and not subject to call.
1951
GP8H&FE 1st M (no opt)l 1891
8 J-J
100,000
Past due
($500 and $1,000) gold—c/Central Trust Co., New York, Trustee,
do
2d M ($500) gold.cf 1893
6 J-J
50,000
past due
lint, at Merchants' Nat. Bank, Glens Falls.
do
3d M
$250,000
In Delaware June 1916 as a reorganization
as per plan in V. 103, p. 939.
Does
gas business of Albia, Hocking, Hite-
of the Southern Iowa R. &
Light Oo.
the light, heat, power,
man
1951
1
albia, iowa.
ALBIA
Underlying Liens—
Still & Mech first
Double-tracking of road be¬
1910.
Operates 19
Albany.
Rensselaer and Kinderhook Lake
completed in
passenger cars, 6 freight and 2 express cars, 2 express trailers, 2 snow-plows
and 2 electric locomotives.
Ralls 70 and 80-lb. steel; standard gauge.
Also owns a large amusement
def.
In Dec. 1906 the United Traction Co. of
Albany acquired control through
purchase of a majority of the capital stock.
First
3
Other Inc. Chgs.&Tax.
Deficit.
def.$175,730
132,740
£l458-§48™ 341,959, 161.483
598,798
def.
95,356
OFFICERS.—Pres., L. F. Loree, N. Y.; V.-P., W. H. Williams, N. Y.;
V.-P., H. B. Weatherwax, Albany; V.-P. & Asst. to Pres.. W
B. Schofield;
Sec., F. M. Olyphant; Aud., D. L. Waters,
Albany; Treas., C. A. Hoag;
Comp., W. E. Eppler, N. Y.; Gen. Mgr., A. E.
Reynolds, Albany.
Princi¬
pal office, Albany.
V. 109, p. 578; V. 110, p. 360; V. Ill,
p. 589.
82,848,872
2,530.057
RAILWAYS
int
date
1st & Ref M ($10,000,000)
callable at 107 H
1913
6 J-J
5 J-J
3,000,000 July
909,000 July
1 1943
1 1943
1909
5 J-J
738,200 July 1 1939
Interest at Girard Trust Co., Philadelphia,
1912
6 M-S
2,138,000 Mar 1 1942
/Interest at Girard Trust Co., Philadelphia.
Stroudsburg El L & P 1st M„ 1900
5 J-J
25,000 Dec 15 1920
Schuylkill Gas & El 1st M
1913
6 A
»
338.100 April 1 1943
Hazelton Steam
H'ting Co\ 1907
5 M-N
3,000 Nov 1 1927
1st M callable at 100
/Int. at Hazleton <Pa.) National Bank.
Lehigh Valley Transit Group—See Lehigh Valley Transit Co. below.
Voting Trustees for Stock.—Irving W. Bonbrlght, Bonbright & Co., Inc.;
George H. Frazier, Brown Bros. & Co.; S. Z. Mitchell, Pres. Elec. Bond&
Share Co.; Lewis E. Pierson, Chairman of Bd. of Irving Nat. Bank, N.
Y.;
8. D, Warriner, Pres. Lehigh Coal & Nav. Co.; G. M.
Dahl, V.-P. Cgase
Nat. Bank, N. Y.; Alexander J. Hemphill, Chairman Guaranty Tr.
Co.,
N. Y.; Thomas Newhall, Edw. B. Smith & Co.; Daniel E.
Pomeroy. V.-P
Bankers Trust Co., N. Y.. and William West. Henry & West. Phila.
Notes.—Over $18,000,000 notes have been subscribed for.
The terms of
subscription provide that 40% be paid upon allotment and the remainder a*
called fey the co. on written notice of at least 20 days, the subsequent In¬
stallments to be at least 30 days apart, and no one of said installments to
be for more than 10% of the amount subscribed.
Subscribers have the
right to anticipate all or any part of their subscriptions at any time.
As a
result of calls for payment and of payments in anticipation of future caUs
the amount of notes outstanding as of Aug. 31 *20 was $18,246,200.
The
Electric Bond & Share Co. will deliver to each subscriber 4 shares of the
Securities Corp. stock
with each $1,000 of notes when subscriptions have
$51,283
46,052
been paid in full.
The stock may be deposited in a voting trust.
The collateral for the notes Includes (a) the entire capital stock of the
iA
ict £74i?55
101.596
27,782
ROAD.—Operated bv third-rail system !29.378_
from Albany via Rensselaer to
Comprises 37 miles of mafia line and 9 miles of sidings, with 2
of the Northern Central Gas Co., Columbia 8c Montour Electric Co.. and
^
Hudson.
Lehigh Navigation Electric Co.: (6) a substantial majority of the stock of
Lehigh Valley Transit Co.: (c) the bulk of the outstanding stock issues
the
Northumberland Co. Gas & Elec. Co., as shown In V. 105, p. S18.
It I*
expected that the corporation from time to time will sell part or the securitie*
deposited under such trust agreement, the proceeds to be used for the pur
chase, redemption and cancellation of the notes, by purchase at the lowesi
price, or at 101% and int., by lot.
Notes are red., ail or part, on any lnt
date at 101 and int. Pennsylvania 4 mills tax refunded. V. 105, p. 818, 498
EARNINGS.—Of combined properties for 12 mos.
town, Perkasie, Lansdale, Norrlstown, Ambler
T and 96 and 116-lb. girder rails. Owns a large
wav
and service cars.
built by the controlled Ailentown Bridge Co. (auth.
was formally opened Nov. 14 1913.
See V. 97, p. 1426,
ended June 30 1920
(inter-group charges eliminated): Gross from oper., $11,633,344: other in¬
$17,789; total. $11,651,133; oper. exp., taxes, maint.. & depletion
charges, $6,393,836; net, $3,659,274; int. and disc., $1,616,637; balance,
of earnings, incl. interest, accruing to Lehigh
Power Securities Corp. on the basis of securities owned, $1,925,408.
Property, dec.—Generating plants have a present capacity of 112.122 k. w
424 miles high-voltage transmission lines (over 11,000 volts); gasholde*
$2,042,637.
Proportion
capacity. 1,546,000 cu. ft.; 178 miles gas mains;
urban railway lines.
221 miles street and inter
\
.
Management.—The company is under the management
of the ElectrH
Bond & Share Co.
Hall; V.Ps., H. H. Crowell, Wra. Darben.
E. W". Hill; Treas., Win. Reiser; Sec., E. P. Summerson,
402; V. 108, p. 263; V. 109, p. 1793; V. 110, p. 261,1973,2487.
OFFICERS.—Pres.. E. K.
P. B. Sawyer and
—V. 107, p.
Lehigh 'Valley Transit Co.
Control.—In July 1917 the
Lehigh
Power Securities Corp., which se.
above, acquired a substantial majority of both classes of this
stock on the basis of $28 per share of com. and $48 per share of
company'*
ORGANIZATION —Incorp. in Pa on Nov. 3 1905
under foreclosure of the Lehigh Valley Traction
P. B.
Wagner; Aud., W. L.
109, p. 2263; V. 110, p.
pref. stock
and is a reorganize
Co., the Philadel¬
Interest.
Outstanding.
$2,997,350
Maturity
Q-F
Date.
4.979,687
See text
4-5 g M-S
4,994,000 Dec 1 1935
gold ($1,000)
ctf/Guaranty Trust Co., New York, Trustee.
Oonsol.
mtge,
$7,500,000,1 1905
4-5gJ-D
354,000 Dec 1 1935
gold ($1.000)
tf fCommercial Trust Co., Phila., Trustee.
Ref & Imp mtge $15,000,0001
1910
5 g J-D
5.115,000 June 1 I960
gold ($500 and $1,000) c*tf [Lehigh Valley Trust Co., Ailentown. Trustee
Beth. & Nazar St Ry Stock...
150,000
5% guar
Bonds ($150 000)
tf 1899
5 M-N
150.000 May 1 1929
Norrlstown Transit Co. 1st M. 1912
5 F-A
150,000 Feb 11942
So Beth E L Co 1st M call atl
1899
5%
15.000 Oct 11929
105 at any int date
/
Ailentown Bridge 1st M ($500 ( 1912
5 J-J
218,000 July 1 1942
& $1,000) call at 105 any/Guar. p. & i, by Lehigh Valley Transit Co.
Int.
date
c**_tfllnt. at co's office or Brown Bros.&Co.,Phila.
Lehigh Val L & P mortgage/ 1913
5 g A-O
604,500 April 1 1943
$2,000,000 ($1,000, $500
Lehigh Valley Trust Co., Ailentown,Trustee.
$100) gold
c*tf (Int. at co'sofficeor Brown Bros.& Co., Phil.
Coll
trust
bonds, $925,0001 1913
6 g J-J
924.200 July 1 1923
($1,000,$500,1100) gc*ntf) Int. at Girard Trust Co., Phila., Trustee,
Equip trust "Ser A"
tf
'
5 M-N
29,750
See text
Equip trust "Ser B"
5 J-J
60,000
See text
Equip trust "Ser C".
5 J-J
140,000
See text
First
mortgage,
$5,000,000\ 1905
.
Bonds.—Of the $5,000,000 first mtge., $2,770,000 bear 4%
Interest and
$2,224,000 are 5s.
Int. at the company's office and Brown
Phila. The 1st M. bonds are redeemable on any int. date, the
4s at 105 and the 5s at 110.
Of the consols, $2,500,000 4s were outstanding,
but $2,146,000 have been exchanged for ref. & impt. bonds.
Int. on consol.
bonds Is payable at office of company or Brown Bros. & Co., Phila.
These
bonds are not subject to call.
Of the $15,000,000 ref. & impt. bonds
are
all out, and
Bros. & Co.,
$5,000,000 are reserved to retire 1st M. bonds; $548,000 for consol. mtge.
bonds ($354,000 to take up bonds shown In table and rest for bonds previ¬
ously taken up); $3,334,000 for improvements and $600,000 are deposited
with the U. S. Housing Corp.; $548,000 are in treasury.
Bonds are red. at
110 and int. V. 92, p. 187; V. 94, p. 698, 982; V. 95, p. 750.
Int. Is payable
at office of company or Brown Bros. & Co., Phila.
Bonds are listed on the
Stock Exchange.
The coll. trust notes of 1923 are redeemable at
and int. on any Int. day.
Phila.
par
Equip, trust "Series A" are -payable $4,250 semi-annually, "Series B"
$5,000 semi-annually, and "Series C" $10,000 semi-annually.
Lehigh Valley Lt. & P. bonds are suoject to call on any int. date at 105
and Interest,
V
97. p. 365.
Dividrnds.— Initial div. on Dref.. 1%
paid Nov
10 1911
In 1912.
1913 and 1914, 2%.
In 1915, 3J*%.
In 1916 and 1917, 5%.
In 1918.
Feb., 1M%.
None since. V. 106, p. 2123; V. 108, p. 268; V. 110, p. 261.
Total accumulated dividends, 27%.
EARNINGS.—For years ending Nov. 30 1919 report in
Fiscal
Year—
Operating
Net after
Revenues.
Taxes, Ac.
Other
Int.,Amort.
Income. Disc., Ac.
V. 110, p. 261):
Preferred
Dividends.
Balance,
Surplus.
$456,264
348,256
(5%)$248,983 204,555
1.104.087 145.210 780,820 (5%) 248,983 219,494
ROAD.—Operates 221 miles of railway. The road connects
Ailentown
Bethlehem, South Bethlehem. Hellertown, Nazareth, Siegfried, Northamp¬
ton, Coplay, Catasauqua, Egypt, Emaus. Macungie, Slatington, Quaker1918-19..$3,771,303 $1,044,923 $149,464 $738,122
886.525 142,835 681,104
1,034.654 144.756 725.873
1917-18.. 3,320.145
1916-17.. 2.875,074
1915-16.. 2,471.872
261, 465, 2387.
Electric.
|
Consolidated
In¬
April 1913 the Leilgh Valley Transit Co. acquired a controlling
terest In the stock and has since acquired all stock except (24) directors
ikares.
V. 96. p. 1021.
„ .
,
■
,
Dividend payments were: July 1900, 3V$% on $10 paid In; Sept. 1901
and March and Sept. 1902. 3% on $15 paid In; March 1903 (palabi July)
and Sept. 1903. 4% on $16 paid In.
In Dec. 1905 declared a dividend
$2 50 and at same time called an assessment of $5 per share on the
the dividend was credited on the assessment, making the stock 50% paid In.
V. 81, p. 1791.
Cash dividends resumed In Oct. 1906 with the payment of
2H %.
V. 83, p. 687; 23* % again paid April 1 1907 and 2 3* % Oct. 1 1907;
then dividends were passed until Nov. 1911. when 2% was paid.
In 1912
and 1913,4%; In 1914, May, 2%.
Beginning with June 1914 began paying
1-3 of 1% monthly (V. 99, p. 300).
Dividends no longer reported, as
entire stock Is owned by Lehigh Valley Transit Co.
Name of Company—
Oumed. Tot. issue
Lehigh Valley Light & Power Co. (common)
$491,100 $491,100
Ailentown Bridge Co
—
292,100 292,100
Rittersville Hotel Co
100,000
100,000
Easton Consolidated Electric Co. (50% paid)
1,498,8001,500,000
Norrlstown Transit Co
...—.....
12,000
24,000
Miscellaneous stocks
.......
10,200
160.000
Leases Beth. & Nazar. Pass. Ry. for 999 years at 5% on stock and bonds
STOCK AND BONDS—
Easton
(1)
V.-P.. E. M. Young;
In
„
of
stock;
ORGANIZATION.—Consolidation by stock
ownership of the Easton
Illuminating Co. of Easton, and the Phlllipsburg
Co. (name changed to Phlllipsburg Transit Co.).
Incorporated in New Jersey March 11 1899.
Owns all the stock of the
Transit Co., the Edison
(N. J.) Horse Car RR.
Penn. Motor Co.
3 1908 the (old) Easton Transit
Transit Co.. the Easton Palm er & Bethlehem
Subsidiaries.—On Jan
Consolidation of
Oo., the Easton & Bethlehem
Northampton Central Stree* Ry. were merged into the
(new) Easton Transit Co. (V. 85, p. 1401) and in 1909 the Easton & South
Sethiehera Trans. Co. was also merged into the (new) Easton Transit Oo.
Stuck, $2,150,000; all owned by Easton Consolidated Elec.
For decision of the Northampton County Court at Easton, Pa., on Dec.
28 1914 favorable to the Edison Illuminating Co. (a subsidiary), see Lehigh
Valley Transit Co. in V. 100, p. 140.
Street Ry. and the
STOCK AND BONDS.—The
.
Pref, $5,000,000, par $50--1——
5%, cum after Nov 3 1910-f
Sawyer; V.-P. &
;
—
__
V.
phia & Lehigh Valley Traction Co., the Ailentown & Slatington and thi
Coplay Egypt & Ironton Street Ry,, as per plan In V. 79, p 733. 1462.
In Oct. 1911 purchased the Montgomery Trac. Co. (V, 93. p. 940), all o?
whose bonds and stock are deposited under the Lehigh Valley Transit ref. A
imp. mtge. of 1910; reconstruction of Mont. Trac. completed Dec. 12 1912
cutting aown running time between Ailentown and Philadelphia (City Hall
from m to 21* hours.
An 8-mile cut-off on this dlvtslon was completed U
1914 and the running time between Ailentown and 69th St. Terminal
Philadelphia, Is now 1 hour and 58 mluutes.
In April 1913 purchased controlling interest In stock of Easton Consoll
dated Electric Co. (V 96, p. 1022)
On June 20 1913 shareholders author
Red an Issue of collateral note* to pay for the purchase.
V. 96, p. 1489
1772.
Also has half Interest In Norrlstown Transit Co. Franchises perpet
On Dec. 31 1915 purchased the franchises and property of the Quaker
town Trac, Co. (formerly leased) for the sum of $1 and the conceliatlon o
Its Indebtedness, all of which was owned by the Lehigh Vail. Transit Co
Under agreement made In July 1907 the Lehigh Valley Transit has lfc»
Philadelphia terminal in the Philadelphia Rapid Transit station at Chestnui
Hill.
V. 85. p. 99.
Late in 1912 made a contract for express service with
Adams Express Co.
In 1918, however, upon the taking over of the exprese
companies by the Federal Govt., this express service was discontinued
V. 108, p. 375.
Conducts through freight service between Ailentown and
Philadelphia.
Light and Power.—In March 1913 the Lehigh Valley Light & Power
Co. was organized as a consolidation of the Ailentown Electric Light &
Power Co. and numerous smaller companies all previously owned by
the
Transit Company.
Stock authorized, $850,000 (par $100); out¬
standing, $491,100, all owned by the Transit Co.
Does entire lighting
and power business In Ailentown, Bethlehem, South Bethlehem, Slating¬
ton, Catasauqua. Emaus and-adjacent territory; power Is also wholesaled
to Macungie and to several municipalities along the Transit Co.'s ilrth
Including CooperBburg, Sellersville, Souderton and
North Wales.
In
Aug. 1913 the company closed a contract to supply electricity to the Phil¬
adelphia Suburban Gas & Elec. Co.. a subsidiary of the Amer. Gas Co.
V. 97. p. 521.
Also has numerous municipal street-lighting contracts
Franchises, with one minor exception, are perpetual.
Rates.—In May 1918 filed with the Penn. P. S. Comm. a new fare sched¬
ule, effective June 1 1918, providing for increases in local and limited
passenger fares on the Philadelphia and Slatington divisions, and increases
In all commutation rates on all divisions.
V. 106, p. 2123.
In July 1918
filed a new tariff, effective July 20 1918, providing for increases In all
class rates and an increased minimum charge. V. 107, p. 291. In Sept. 1918
filed jointly with the Phila. Western Ry. a tariff increasing fares to 6 cents
and creating several new zones. V. 107, p. 1101.
In June 1920 was auth. by
the Penn. P. S. Comm. to raise zone fares from 6 to 7 cents, with an Increase
of 1 cent
per zone on commutation tickets. V. 110, p. 2387.
Compare
V. 110, p. 465.
Owns the following stocks:
Cap. Stock
Common, $3,000,000, par $50-
stock $300,000) and
1428; V. 98, P- 154.
V.-P.,
Gen. Mgr., H. H. Patterson; Sec. & Treas., Chas. N
Davis.—V. 107, jp. 291, 1101; V. 108, p. 268, 375;
OFFICERS.—Pres.,
105, p. 606.
tlon
and Phila. 80, 95 and 105-lb.
amusement park about mid-
and Bethelehem. Owns 293 pass, cars and 63 freight
A 2,650-ft. bridge oetween Ailentown and So. Ailentown
between Ailentown
was
come,
V.
[Vol. 111.
ELECTRIC RAILWAYS
4
on
collateral trust 5s were in Jan. 1900
the Philadelphia Stock Exchange.
Interest.
Date.
Outstanding.
listed
Maturity.
Stock $1,500,000 (par $50)—Stock (50% paid in)all owned byL. V.T.Oo.
Collateral trust $1,300,000 g7 1899
5 g M-N
$1,237,000 May 1 1949
($1,000 and $500)
c*tf (Interest at Girard Trust Co., Pbila., trustee.
6 A-0
|
09.000 Apr I 1941
Tr. & Safe Dep. Co., Scranton. trustee
mtgef 1898
5 J-J
200,000 Jan 1 1939
Pennsylvania Motor Co Istf 1891
mort. (cannot be called) tf (Lack.
Eas Palmer
&
Beth 1st
tfJU.a.Mtg. &Tr.Co.,N
gold $200.000
Y.. trustee.
1906
5 g J-J
417.000 July 1 1930
c*tf(Girard Trust Co., Philadelphia, trustee.
Bonds.—The ell. bonds have no s. f. and are not subject to call.
Of the
total of $1,300,000, $60,000 is reserved to retire the Penn. Motor bonds,
$2,000 in treas. and $1,000 reserved for small amt. of outstanding scrip of
Ed. 111. Co. Issue is secured by pledge of $2,150,000 stock (entire Issue) of
(new) Easton Transit CO., 12,317 shares (entire Issue) of Edison Ilium,
stock and 2.400 shares (the entire issue) or Penn. Motor stock.
Int. on
Fa«ton A So. Beth. Transit bonds is payable at office of Edw. B. Smith &
Co.. Phila., or at company's office.
They are guar. p. & 1. by endorsement
by the Easton Consol. Elec.
A sinking fund of $5,000 d. a. commenced
June 1 1908; $59,000 have been retired. Bonds are subject to call at 105 and
int.
V. 83, p. 323; V. 104, p. 2553.
Eas&Sc Beth Tr 1st M $500,-/
000 guargold ($1,000)
REPORT.—For calendar years.
Calendar
Gross Earn.
_
Net Inc. Net Inc.
Total E. Bond Int. Divs.
Balance,
Tax.,Ac. Paid. Surplus.
1916
$67,545 $60,000 $97,418
1915
67,806 60,000 25,050
1914
475.611
126.907
24,057
150,964 67,577 69.950
13.437
Latest Earnings.—-The surplus earnings of the Easton Consolidated Elec¬
tric Co. for the year ending Nov. 30 1918 were $101,756 as against $159,700
Year—
—Railway Dept.— Ed.Ill.Co. Con.El.
$653,262 $206,160 $18,803 $224,963
534,644
133,029
19.833
152,862
for the year ending Nov. 30
1917.
ROAD.— Embraces practically the
entire street railway system
of Easton
and Phllipsburg, N. J., with lines from Easton to
Bethlehem,
South
Bethlehem,
Nazareth,
and Phlllipsburg, N. J.
total track, 54.389 miles, all standard gauge; operates through cars from
Easton to Bethlehem, South Bethlehem and Ailentown.
93 passenger
and West Easton, Pa.,
12 service cars.
and
OFFICERS.—Pres.,
—; V.-P., S. H. Hackett; Sec. &
& Asst. Treas., S. H. Sargent.—V. 97
838; V. 99, p. 1300.
-
——
Treas., E. E. Wagner; Asst. Sec.
p.
53, 301, 311; V. 98, p.
ALLENTOWN & READING TRACTION CO.—A trolley road.
ORGANIZATION.—Incorporated April 25 1898 and leased the Allen
Reading Electric Street Ry. for 290 years from June 4 1808.
On
Feb. 6 1902 leased for 290 years the Kutztown & Fleetwood Street Ry.
Control* the Kutztown Light, Heat & Power Co.
Connects with United
Traction Oo. tracks from Reading, tbua forming a through line from Allentown &
fcowo to Reading.
.
Notice of an increase In fare
Rosedale, effective Jan. 1
and
from 5 to 6 cents,
„
except between Reading
the P. S. Comm. in
1918, was filed with
Dec. 1917.
Receivership Denied.—On Aug. 11
tion of the stockholders of the
1919 Judge Wagner denied the applica¬
Fleetwood Ry. Co. for a receiver
Co. The action against the co. was
Kutztown <fc
Ailentown & Reading Traction
started in 1913.
V. 109, p. 675.
for the
Date.
STOCK AND BONDS.
Stock. $750,000 (par $50)
Allent & Kutz 1st M
—-
$250,000] 1900
$100.$500& $l,000.cptj Interest
g.
First M Kutztown &
$200,000, guar p
consol mtge,
Fleetw'd)
& L—cpt!
1902
Maturity.
$250,000
$250,000 July 1 1930
Outstanding.
Interest.
—
—
5 g J-J
Fidelity Trust Co., Phila.. trustee
5 g J-J
200,000 Jan
1 1932
as
5g J-J
300.000 July 1 1932
Integ. Tit. Ins. & Tr. Co., Phila.,trus
5 M-N
163,000 May 1 1937
($500 & $1,000)
c&r.tf/Berks County Trust Co., Reading, trustee.
Bonds.—Of the $750,000 of new consols, $450,000 are reserved to retire
prior liens.
They are subject to call at par since July 1 1917; no sinking
fund.
The first mortgage bonds are redeemable at par
EARNINGS.—For year ending June 30
1916, gross, $183,825; net.
$86,401; other income, $14,463; int., rentals, &c., $77,682; surp., $23,182.
ROAD.—Operates 39.60 miles main line. 7.50 miles sidings—total
$750,0001 1902
(S500&$1,000) c &r_cpt/Int. at
First
g
Second consol mtge
„
$300,000) 1907
47.10 miles; 43 cars.
OFFICERS.—Pres.. H. E. Ahrens,
*
K. Hoffman,
Reading; V.-P.. W. D. Mnhn; Sec 1
Hamburg; Treas.. Geo. B
Bear, Kutztown.—V.
81, p. 1492; V. 82, p.
alliance,
Shaffer, Reading- Supt., W. J
216; V. 109, p. 675.
ohio.
RR.—An electric railroad.
ORGANIZATION.—Incorporated In Ohio and Is a consolidarion In Dee.
1902 of the Alliance Electric Ry. and the Stark Electric Ry.
Rate Increases.—In June 1918 was authorized by the City Council to
charge a 6-cent fare; rate for tickets was increased from 25 for $1 to 20 for
$1. V. 106, p. 2561. In Oct. 1920 a 7-cent fare, with tickets at 16 for $1,
was being charged.
In 1918 was auth. to increase freight rates by 25%. In
Sept. 1920 freight rates were further increased.
STOCK AND BONDS.
Date.
* Interest. Outstanding.
Maturity.
Stock. $1,500,000 ($100)
Q-J
$1,250,000
See text
First mtge. $1,000,000. gold/ 1903
5 g J-J
830,000 Jan. 1 1928
>$l 000) sinking fund. call-/Citizens' Sav. & Tr. Co., Cleveland, trustee.
able at 105
ctfjlnt. at United Bank fc Sav. Co., Cleveland.
STARK ELECTRIC
Bonds.—Sinking fund 2% per ann. $170,000 have been retired.
Dividends.—First div., H %. paid July 1908: % % paid auar. to and
In April 1916,1%; same rate quar. to and incl. Apr. 1917;
to Oct. 1919, when a div. of 1% was paid. Same rate has been paid
Jan. 1916.
larly quarterly since to and incl. Oct.
dividend of 25%. V. 90. p. 448, 700.
1920.
In April 1910 also a stock
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
Net.
Fixed Charges.
1919
1918
_$517,688
494,161
-
$137,893
119,560
lncl
nonp
regu¬
$91,976
86,794
Divs.
$25,000
None
Surplus.
$20,916
32,766
oct., 1920.j
ELECTRIC RAILWAYS
ROAD.—Operates 34 miles of track from Canton to Salem. Including
Alliance City lines.
Standard gauge.
67 and 70-lb. T rails and 70 ano
90-lb. girder rails.
Total mileage, including double track. 36 miles.
An
extension from Alliance to Marlborough and New Baltimore and
eventually
partly graded.
OFFICERS.—Pres., Claus Greve; V.-P. & Treas., S. L. Sturgeon; Sec.,
E. S. Cook; Aud., O. K. Ayers; Gen. Mgr., F. L. Mowry.—V.
102, p. 977;
V. 104, p. 2553; V. 106, p. 2561; V. 107, p. 83, 403.
.f
'
to Akron is to be constructed: line
5
Portland line, 32 miles; grand total, 453 miles.
Through cars are run be¬
Indianapolis and Fort Wayne in conjunction with the Fort Wayne &
Provides package freight service between Indianapplis
and Muncie and Indianapolis and
Logansport and Peru, and to all other
points on the system.
Operates through freight service between In¬
dianapolis and Fort Wayne.
By contract until Nov. 1933 cars are run
tween
Nor. Ind. Trac. Co.
over
tracks
of
matter
Indianapolis Street Ry. in Indianapolis.
Carries express
per contract
with Wells, Fargo Express Co.
A large central
station, with necessary storage batteries at Anderson, operated on
* three-phase system, with 19 sub-stations, likewise
equipped with storage
batterias, operates entire system.
power
AMSTERDAM, N. Y,
FONDA
JOHNSTOWN
&
GLOVERSVILLE RAILROAD CO.See statement in "Railway & Industrial Sec."
Steam and electric road.
ANDERSON, IND.
traction co.
|
of
indiana.—A trolley road
May 13 1912 as a consolidation of tin
oM Union Traction Co. of Indiana (Incorp. May 28 1903) and the Indian*
Union Trac. Co. (incorp. June 9 1903), per plan in V. 94.
p. 1119. 1185: V
95, p. 819; and as a result of which capital was materially reduced.
The
legality of the consolidation was upheld in a decision by the Supreme
Court of Indiana in the fall of 1915.
The Indiana Union Traction Co
ORGANIZATION.—Incorp.
on
had
previously acquired the Indiana Northern Traction Co. (V. 81. p
H48), Muncie & Union City Traction Co. (V. 83. p. 96) and Muncie
Hartf. & Ft. W. Ry. (V. 82, p. 805, 869, 1041).
The latter company wa»
leased
to
Indiana
the
Union Trac.
at
a
was a
int.
(In addition to operating
Mun. Hartf.& Ft. W. Ry
on
cum.
consolidation of the Union
the Broad
Ripple Natatorium Co.
the $100,000 1st M. 6soutstanding and $49,500 of the $50,000
Light & Power Co. and a one-fourth interest in the
United Tractions Coal Co., which owns and leases valuable coal lands to
insure the co. an adequate coal supply.
(See Shirley Realty Co. of Ind
in V. 104, p. 1805.)
The Indianapolis Northern Traction assumed payment of the prin. and
int. of half ($200,000; of the bonds of the Broad Ripple Traction Co. (see
under Indianapolis)
Leases Indianapolis Newcastle & East. Trac. Co. for 99 years from Oct. 25
1912.
Lease modified on Aug. 21 1914 and com. & pref. stocks of the
Ind. New. & E. Trac. Co. formerly held were transferred in satisfaction
of obligations incurred in leasing that company and acquiring that stock
and in building the Muncie-Newcastle line, and in consideration of further
advances for improving power facilities for that line, a total of about
$521,000 (V. 100. p- 975).
Lease again modified as of June 30 1916 ib
Also
owns
stock of the Traction
connection
with the lease of the Muncie
Ind. Newc. & Eastern Trac. Co., which
Fares.—In
Dec.
1917 the Ind. P. S.
iq fare from 5 to 7 cents
increases to
6 cents on
&
see
Portland
Traction
Co.
the co. was auth.
V. Ill, p. 75.
to
co.
an
increase
mile V. 108, p. 172.
Effective July 1 1920
increase passenger fares to 3 cents per mile.
See
per
Refinancing.—On June 14 1919 the Ind. P. S. Comm. approved the exten¬
sion of $4,623,000 1st gen.M 5s due July 1 1919 to July 1 1922 at 6% (com¬
pare VI. 108, p. 2434) and of $1,200,000 Ind. New Castle & Eastern Trac.
Co. 6% bonds due June 1 1919 to June 1 1922 at 6%.
Both issues of ex¬
tended bonds
are
red. at 101H and int. on any int. date.
The Comm. also
approved the extension of $328,000 Marion City Ry. 6s due May 1 1919 to
May 1 1924 at 6%.
V. 108, p. 2630.
The co. also issued $150,000 3-yr. promissory notes dated July 1 1919 to
replace a similar issue due on that date.
The new notes are secured
by $40,000 par value pf the co's stock, $18,017 com. stock of Shirley Realty
Co. and $25,000 1st Mtge. 6s of 1928 of Traction, Light & Power Co.
V,
108, p. 2630.
STOCK AND BONDS.
Date.
Interest.
Outstanding.
Maturity
commod, $5.000,000—
$5,000,000
A-O
1st pref, $1,000,000, 5% cum.
1,000.000
'See text
2d pref, $3,000,000 (see text).
J-J 10
3,000,000
See text
text)
J-J
Ind Un Traction 1st M $5,-1
1903
6 g A-O
1.620.000 July
1 1933
000,000 ($1,000) gold., tf [Interest at Girard Trust Co.. Phlia.. trustee.
rard
Union Tr Co of Ind 1st genMl
1899
6 g J-J
4,623,000 July 11922
$5.000.000g($l,000)c<!Scr*tf/Equitable Tr. Co., New York, trustee
Collateral trust notes
6%
150,000
July 1 1922
Car trust ctfs Series A
49,000
Citizens' St Ry (Mun) 1st Ml
1897
6 g J-D
36.000
Dec
1 1927
Interest at Guar. Trust & Safe Deposit Co,
ib
$250,000 a fsut to call 105.)"
'
~
--- ($500 and $ 1,000)-----rc*jf
Philadelphia,, trustee.
1895
6 g M-N
328,000 May 1 1924
old
gold ($1,000)
ctf/Equitable Trust Co., New York, trustee.
1902
5 g J-J
5.000,000 July 1 1932
Indianapolis North Trac 1st
mtge $5,000,000 g ($1,000) Equitable Trust Co., New York, trustee.
guar p & 1 by Un Tracc^tf
Indiana North Trac 1st mtge
1903
5 g A-O
500,000 Oct
1 1933
$500,000 gold ($100, $500 Interest at Trenton (N. J.) Trust & Safe
and $1,000) guar
c»tf
Deposit Co., trustee.
MH&FtW pref stock cum..
5%
500,000
See text
do
!_
do
first mtge $1, * 1905
6 g J-J
916.000 Jan
11935
(XX),000 gold ($1.000).c*tf [Int. at Guard. 8av.& Tr. Co., dev., trustee
Muncie & Un O M $925,000} 1906
5 g J-J
925,000 July 1 1936
....
.
_
"
_
_
guar gold ($1,000)
c*tf (Int. at Fidelity Trust Co.. Phila., trustee.
BroadRiopIeNafcatoriumlstM \
5 M-S
31,000 Mar 1 1931
Guar, by Un.Tr.Co.of Ind. j Int. at Security Tr. Co.. Indianap., trustee.
Stock.—Divs.
on
2d
pref.
stock
are
cum.
from
1%
semi-annually
in
1913. scaling upward to 3% semi-annually in July 1918 and thereafter
the
Indiana Union Traction bonds of 1903, $3,380,000
extensions and improvements, but under terms of con¬
agreement of 1912 these bonds have been canceled.
$494,000
alive in the sinking fund (included in amount outstanding).
Bonds.—Of
were
reserved for
solidation
are
held
Sinking fund, 1
% per annum of outstanding bonds, became opeiaiive
on July 1
1904.
Fund is to be Invested in the bonds at not above 105 and
Int., and bonds may be drawn at 105 and int. on any int. date.
$173,000
Union Trac. Co. of Ind. Gen. M. bonds are in treasury, including $150,000
?iledged to secure the collateral 71, p. notes: remaining bonds borereserved
trust 1013. They originally are interest
underlying bonds.
See V.
or
at 5% and matured July 1 1919, but have been extended to July 1 1922 at
6%.
Bonds are listed on the Philadelphia Stock Exchange.
The Indiana
Northern Traction bonds are subject to call at 105 and interest on six
weeks' notice.
They are guaranteed, principal and interest, by Indiana
Union Traction Co.
V. 82, p. 8"5.
The Muncie Hartford & Fort Wayne
bonds can be called Jan. 1 1925, or after, at par.
A sinking fund on those
bonds of 2J^% of gross earnings per annum began July 1 1905.
See V. 80,
p. 1059.
$84,000 have been retired.
The Muncie & Union City bonds
are subject to call at 105 and guar., prin. and int., by Indiana Union Trac¬
tion.
The Marion City first mtge. bonds originally matured May 1 1915,
but were extended to May 1 1919, and again to May 1 1924.
The collateral
trust notes were Issued to refund a like amount of Anderson Elec. St, Ry.
bonds which matured in 1912.
They fell due July 1 1917, but were ex¬
tended to July 1 1919, and again to July 1 1922.
Dividends.—5% was paid on first pref. stock to April 1914.
None since.
Divs. on second pref. stock have not been paid since July 1912.
REPORT.—For cal.
Calendar
Year—
1919
1918
year,
incl.
Gross
Famines.
Net (after
Taxes}.
$3,781,554
3,198,821
$899,186
823,4241
Passengers carried in 1919,
Mnncie-Portland line:
Other
Bond
Sinking Balance,
Income.
Int., Ac.
Fund.
Deficit.
$17,518
$898,669
sr$18,035
21,627
880,048
63,546
98.543
(1)
Indianapolis Newcastle & Eastern Traction Co.
quivalent
11.050
on
to 5% on the pref. stock, and a definite annual payment of
the com. stock.
A further amount, up to $10,420 a year, is
oayable under certain conditions.
Compare V. 100,
p.
975.
Leases the Muncie & Portland Traction Co. for 999 years from June
(916;
see
30
terms below.
ORGANIZATION.—Incorp. in Indiana on June 10 1912 as successor to
.he Indianapolis Newcastle & Toledo Elec. Ry., sold at foreclosure.
Has
orivate right-of-way minimum width 66 ft., except in corporate limits,
vhere shortest franchise expires Apr. 7 1933.
Under favorable contract
with Ind. Trac. & Term. Co. extending fco 1933, operates through city Into
Indianapolis lnterurban terminal.
Bond Extension.—See under United Traction Co. above and V.108,p.2629.
STOCK AND BONDS—
Interest.
Date.
Outstanding.
Maturity
$500,000
See text.
500,000
See text.
$1,500,000 gold! 1912
6 g J-D
1,200,000 June 1 1922
—c*tf/lnt. at Fidelity Trust Co., Phila., Trustee
Oommon $500,000 ($100)._._
Pref $500.000 5% cum ($100).
First
mtge
$1,000
.
Bonds.—Remaining 1st M. bonds may be issued upon fulfilment
extensions, impts., betterments or ac¬
quisition of unencumbered properties. Red. as a whole (but not less) on any
int. date on 8 weeks' notice at 10114 and int.
V. 94, p. 1695. No sink. fund.
Originally matured June 1 1919, but have been extended to June 1 1922.
certain covenants for 75% of cost of
ROAD
—Included in Union Traction Co.
of Indiana.—V.
94.
1565,
p.
1626, 1695; V. 96, p. 135; V. 100, p. 982; V. 102, p. 2341; V. 108, p. 2629.
The Muncie & Portland Traction.—A trolley road.
ORGANIZATION.—Incorporated July 1905 in Indiana.
4ti«s and
towns
50 years; In
uease.—Was leased
Franchises in
counties perpetual.
of June 30 1916 for 999 years to the Indianapolis
Newcastle & Eastern Trac. Co.
In connection therewith the co.'s capital¬
ization was changed from $1,000,000 stock, all of one class, to $500,000
as
preferred and $500,000
common.
The lease provides for the payment of
iU taxes, a sum equal to 5% on the pref. stock, a definite annual payment
>f $4,530 and the payment of a further amount up to $17,370 a year con¬
tingent upon certain conditions.
OFFICERS.—Pres., E. B. Ball; V.-P.. W. C. Ball; Sec., G. A. Ball
Treas., F. O. Ball, all of Muncie, Ind.: Asst. Sec.. W. H. Forse Jr., Anderon. Ind.—V. 82. p. 1438; V. 102, p. 2342; V. 106, p. 1037, 1901.
ANNISTON,
ALA.
ANNISTON ELECTRIC & CIAS CO.
'
Merged in March 1915 with the Alabama Power Co.. a subsidiary of the
\Iabama Trac., Lt. & Pow. Co., for statement of which see our "Ry. &
industrial Section."
______
ASBURY
PARK,
ATLANTIC COAST ELECTRIC
N.
J.
RY.—Trolley.
ORGANIZATION.—Incorporated in New Jersey on Dec. 8 1905 as suc¬
the Atlantic Coast Electric Railroad Co., sold under foreclosure of
general mortgage of the latter.
Leases the Seashore Electric Ry. of
Asbury Park until June 6 1937 at $10,000 per year and owns $150,000 of the
$200,000 total capital stock of that company (making net rental $2,500),
and owns all of the stock of the West End & Long Branch Ry. and of the
Asbury Park & Sea Girt RR.; the former is leased from Aug. 3 1896 until
July 17 1945 at a nominal rental, and the latter for 99 years at 6% on stock
from Aug. 27 1898; both stock and bonds of Asb. Park & S. G. are owned.
Also entire stock ($100,000) of the Atlantic Coast Electric Light Co., which
supplies the electric lights of Asbury Park, Allenhurst, Belmar, Ocean
Beach, Como and Spring Lake.
The Seacoast Trac. Co. (capital $100,000).
running from Belmar to Spring Lake, 2 miles, has been leased to the Atlantic
Coast Elec. Ry. for 99 years; its stock and bonds are owned.
Franchise In
Belmar expires in 1947; in Asbury Park in 1937Mn Long Branch, some ex¬
pire in 1945 and others
Girt, expire in 1926 and
Decision.—On Dec
order of the Board of P. U. Comm. requiring the company to give transfer!
in Asbury Park and Bradley Beach, holding that the utlli
violate a contract between the company and the city by "imposing addi¬
tional burdens or lowering rates, unless the company consents.
The case
is now pending in the U. S. Supreme Court.
V. 106, p. 2755.
Fares.—In Dec. 1918 the N. J. P. U. Comm., in acting upon the com¬
pany's application for a 7-cent fare. auth. an increase in fares from 5 to 6
cents.
V. 107, p. 2187.
In July 1920 the co. applied for auth. to increase
fares to 8 cents but the P. U. Comm. permitted an advance to 7 cents only.
Y. Ill, p. 388.
cessor to
the
STOCK AND
BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock $1,000,000 ($100)
$1,000,000
See text
First mortgage gold $1,000
1
1895
5 M-N
800,000 May
1945
000
ntf /Int. at Columbia Trust Co.. N. Y., Trustee.
General mortgage $1,000,0001
1906
5 g J-J
1,000,000 July 1 1945
--ctf /Interest at Central Trust Co., N.Y.,Trustee,
Ry stock
5
200,000
Ry
first! 1892
6 g J-J
200,000 Jan. 1 1921
mortgage $200.000
•rtgage
tf/lnt. atN. Y. Trust Co., N. Y.
Atlantic Coast Electric Light
5 j-D
201,000 June 1 1945
first mortgage gold
ntf Int. at Asbury Park & Ocean Grove Bank.
Asb. Pk. Morton Tr. Co., N.Y., Trustee.
6%
36.000
Neptune Electric Co
Bonds.—Of the $1,000,000 1st 5s, $200,000 are reserved to retire a like
amount of Seashore Ry. 6s.
The latter are subject to call at 105.
They
fell due originally in Jan. 1917, but have been extended from year to year.
Entire bonds ($50,000) and stock ($100,000) of the Asbury Park & Sea
Girt and entire bonds and stock of the Seacoast Traction Co. ($100,000
each) are deposited under the new general mortgage.
Dividends.—In 1906 and 1907, 6%.
In 1908 to 1916, 3%; none since.
gold
($1,000)
Seashore Electric
Seashore
—
Electric
.
ROAD.—Belt line In Asbury Park, 5.85 miles; Asbury Park to
Pleasure
14.60 miles; Asbury Park to Manasquan,
Connects at Pleasure Bay with the
Vew York & Long Branch Steamboat Co.
Bay and North Long
14 1.6 miles;
Branch,
total track, 36.08 miles.
REPORT.—Years ending Dec. 31:
1919.
1918.
1917.
1916.
1915.
1914.
earnings..$458,332 $406,967 $424,934 $420,708 $409,007 $428,763
Oper. expenses..x336,221 x393,517
373,711
273,299
255,872
248,953
Gross
Net earnings..$122,111
x Includes taxes.
$13,450
$51,224 $147,409 $153,135 $179,810
OFFICERS.—Pres., S. F. Hazelrigg; Sec., A. R. Asay; Treas., G. B.
Cade.—V. 81, p. 1722; V. 106, p. 2755; V. 107, p. 801, 2187; V. Ill, p. 388.
17,484,198, against 16,597,199 in 1918.
ROAD.—Owns
the
following
lines:
Muncle-Anderson-Indlanapoiis,
56H miles;
Anderson-Marion-Wabash, 53H miles;
Alexandria-Elwood,
Tipton, 20 miles; Indianapolis-Kokomo-Logansport. 80 miles: KokomcPeru, 191^ miles;
Muncie-Union City, 33 miles; Anderson-Middletown.
914 miles; also 10 miles of city lines in Anderson; 1444 miles in Marion;
16 miles In Muncie, and 4 miles In Elwood; total, 272 miles of lnterurban
and 4414 miles of dtv lines.
Also leases Muncie-Hartford Clty-Bluffton
Une, 42 miles; Indlaaapolis-Newcastle-Muncie line, 62H miles, and Muncie
53 suburlqan, 93 lnterurban,. 30 freight
Leased to Union Tmition Co. of Indiana on Oct. 25 1912 for 999 years.
The lease provides for the payment of all taxes, Interest on bonds, a sum
(a)
below.
Comm. denied the
on the Broad Ripple line beyond Fairfield Ave. and
the local lines in Anderson, Muncie, Marion and
2H to 2% cents
cars,
to the
Elwood, but permitted it to increase the rate for mileage books on its lines
to 2 cents per mile, commutation tickets to 1 H cents per mile (from 1 M
cents) and school passengers to 1 1-5 cents a mile.
Effective June 10 1918,
was autb. by the Ind. P. S. Comm. to increase fares from 2 to
2^ cents ppr
mile.
V. 106, p. 2346.
Early in 1918 was auth. to increase freight rates.
On Jan. 10 1919 was auth. by the Ind. P S Comm. to increase interruban
rates from
city
OFFICERS.—Pres., A. W. Brady, Anderson; V.-P
Philip Matter,
MarionSec. & Treas., Wm. H. Forse Jr.. Anderson; Gen. Mgr., H. A.
Nicholl.
General offices, Anderson, Ind.—V. 107, p. 83; V. 108, p. 81,
172, 974, 2434, 2630; V. 109, p. 1274,1367; V. 110, p. 1090; V. Ill, p. 75.
rental
bonds. &c.), equivalent to5% on
pref. stock; V. 83, p. 96.
The old Union Trac. Co. of Indians
Trac. Co. of Indiana (incorp. In June 1899)
and the Indianapolis Northern Trac. Co. (incorp. in April
1902).
Lease*
exp..
$500,000
EQUIPMENT.—95
and 89 service cars; total, 360.
ASHTABULA,
OHIO.
ashtabula rapid transit CO.
acquired by l. a. Robison. Pres.
of the Penn. & Ohio Rv., and associates.
Receivership.—In Sept. 1920, it was reported that the co. had been placed
in the hands of a receiver.
See V. Ill, p. 1082 for details.
City Purchase.—On Oct. 114 1919 the Ashtabula City Council voted to
approve a tentative offer made by the company under which the city may
In Feb. 1907 control of this road
was
,
,
.
Northumberland Co. Gas & Elec. Co., as shown in V. 105, p. 818.
It fa
expected that the corporation from time to time will sell part or the securitle*
deposited under such trust agreement, the proceeds to be used for the pur
chase, redemption and cancellation of the notes, by purchase at the lowest
price, or at 101% and int., by lot.
Notes are red., ail or part, on any int
date at 101 and int. Pennsylvania 4 mills tax refunded. V. 105. p. 818, 498
EARNINGS.—Of combined properties
T and 96 and
for 12 mos. ended June 30 1920
(inter-group charges eliminated): Gross from oper., 111,633.344: other In¬
$17,789: total. $11,651,133; oper. exp., taxes, maint., & depletion
charges, $6,398,836; net, $3,659,274; int. and disc., $1,616,637; balance.
$2,042,637.
Proportion
of earnings, incl.
Perkasie, Lansdale, Norristown. Ambler and Phila. 80, 95 and 105-lb.
116-lb. girder rails. Owns a large amusement park about midAilentown and Bethelehem, Owns 293 pass, cars and 63 freight
and service cars. A 2,650-ft, bridge oetween Ailentown and So. Ailentown
was built by the controlled Ailentown Bridge Co. (auth. stock $300,000) and
was formally opened Nov. 14 1913.
See V. 97, p. 1426, 1428; V. 98, p. 154.
OFFICERS.—Pres.,
j V.-P., E. M. Young; V.-P.,
P. B. Sawyer; V.-P. & Gen. Mgr., H. H. Patterson; Sec. & Treas., Chas. N
Wagner; Aud., W. L. Davis.—V. 107, p. 291, 1101; V. 10S, p. 268, 375;
V. 109, p. 2263; V. 110, p. 261, 465, 2387.
J
town,
interest, accruing to Lehigh
Corp. on the basis of securities owned, $1,925,408.
Property, Ac.—Generating plants have a present capacity of 112.122 k. w
424 miles high-voltage transmission lines (over 11,000 volts); gasholdei
Power Securities
capacity. 1,546,000 cu. ft.;
urban railway lines.
178 miles gas mains; 221 miles street and inter
Management.—The company is under the management
of the Electrw
Bond & Share Co.
OFFICERS.—Pres., E. K.
Hall;
V.Ps
Sawyerand E. W. Hill; Treas., Wm.
402; V. 108, p. 268; V. 109,p.
P. B.
—V. 107, p.
,
H. II. CroweU, Wm. Darben.
Reiser; Sec., E. P. Suramerson,
1793; V, 110, p. 291,1973,2487.
Lehigh«Valley Transit Co.
Control.—In July 1917 the
above, acquired a
between
wav
come,
Lehigh Power Securities Corp., which se«
substantial majority of both classes of this company'*
share of com. and $48 per share of pref. stock
Easton Consolidated Electric.
April 1913 the Leiigh Valley Transit Co. acquired a controlling in¬
the stock and has since acquired all stock except (24) directors'
shares.
V. 96. p. 1021,
Dividend payments were: July 1900, 3H% on $10 paid In; Sept. 1901
and March and Sept. 1902, 3% on $15 paid in; March 1903 (paid in July)
and Sept. 1993, 4% on $16 paid in.
In Dec. 1905 declared a dividend of
$2 50 and at same time called an assessment of $5 per share on the stock;
the dividend was credited on the assessment, making the stock 50% paid In.
V. 81, P. 1791.
Castt dividends resumed In Oct. 1906 with the payment of
2K%.
V. 83, p. 687; 2M% again paid April 1 1907 and 2X% Oct. 1 1907;
then dividends were passed until Nov. 1911. when 2% was paid.
In 1912
and 1913,4%; In 1914, May, 2%.
Beginning with June 1914 began paying
1-3 of 1% monthly (V. 99, p. 300).
Dividends no longer reported, as
entire stock is owned by Lehigh Valley Transit Co.
(1)
In
terest in
ORGANIZATION.—Consolidation by stock ownership of the Easton
Edison Illuminating Co. of Easton, and the Phlllipsburg
stock on the basis of $28 per
V.
[Vol. 111.
ELECTRIC RAILWAYS
4
Transit Co., the
105. p. 606.
changed to Phiilipsburg Transit Co.).
March 11 1899. Owns all the stock of the
(N. J.) Horse Car RR. Co. (name
ORGANIZATION.—tncorp. in Pa on Nov. 3 1905 and is a reorganiza
under foreclosure of the I^ehigh Valley Traction Co.. the Philadel¬
Incorporated in New Jersey
tlon
Penn.
phia & Lehfgb Valley Traction Co., the Ailentown 8c Slatington and tb»
Coplay Egypt & iron ton Street Ry., as per plan in V. 79. p 733, 1462.
In Oct. 1911 purchased the Montgomery Trac, Co. (V. 93. p. 940), all ot
whose bonds and stock are deposited under the Lehigh Vailey Transit ref. &
Co., the Easton & BetblehemTransit Co..
Street Ry. and the Northampton Central
Coopersburg, Sellersvllle, Souderton and
North Wales.
It
Aug. 1913 the company closed a contract to supply electricity to the Phil¬
adelphia Suburban Gas & Elec. Co.. a subsidiary of the Amer. Gas Co.
V. 97, p. 521.
Also has numerous municipal street-lighting contracts
Franchises, with one minor exception, are perpetual.
Pates.—In May 1918 filed with the Penn. P. S. Comm. a new fare sched¬
ule, effective June 1 1918, providing for increases in local and limited
Including
passenger fares on the Philadelphia and Slatington divisions, and increases
in all commutation rates on all divisions.
V. 106. p. 2123.
In July 1918
a
new tariff, effective July 20 1918, providing for increases in all
class rates and an increased minimum charge. V. 107, p. 291. In Sept. 1918
filed jointly with the Phila. Western Ry. a tariff increasing fares to 6 cents
and creating several new zones. V.107,p. 1101.
In June 1920 was auth. by
the Penn. P. S. Comm. to raise zone fares from 6 to 7 cents, with an increase
of 1 cent
per zone on commutation tickets. V. 110, p. 2387.
Compare
V. 110, p. 465.
Owns the following stocks:
Cap. Stock
filed
Owned. Tot. issue
$491,100 $491,100
292,100 292,100
(common)
100,000
100,000
Easton Consolidated Electric Co. (50% pa*d)
1,498,8001,500.000
Norristown Transit Co
12,000
24,000
Miscellaneous stocks
10,200
160.000
Leases Beth. & Nazar. Pass. Ry. for 999 years at 5% on stock and bonds
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Common, $3,000,000. par $50
$2,997,350
~
-
,
Pref, $5,000,000. par $50—I
5%. cum after Nov 3 1910_f
mortgage.
$5,000,0001
Q-F
See text
4.979,687
4.994,000 Dec 1 1935
gold ($1,000)
ctf/Guaranty Trust Co., New York, Trustee.
Consol.
mtge,
$7,500,000.1 1905
4-5gJ-D
354,000 Dec 1 1935
gold ($1.000)
tf fCommercial Trust Co., Phtla., Trustee.
Hef & Imp mtge $15,000,0001
1910
5 g J-D
5.115,000 June 1 1960
gold ($500 and $1,000) c*tfi Lehigh Valley Trust Co., Ailentown. Trustee
First
1905
Beth. & Nazar St Ry Stock...
Bonds
($150.000)
4-5 g M-S
.
tf 1899
5 M-N
150.000
5% guar
150.000 May 1 1929
Co. lstM. 1912
5 F-A
150,000 Feb 1 1942
8o Beth EL Co 1st M call at 1 1899
5%
15,000 Oct 11929
105 at any int date
/
Ailentown Bridge 1st M ($500 ( 1912
5 J-J
218,000 July 1 1942
& $1,000) call at 105 any!Guar. p. & i. by Lehigh Valley Transit Co.
int.
date
—c**_tf [Int. at co'sofficeor Brown Bros.& Co.,Phila.
Lehigh Val L & P mortgage/ 1913
5 g A-0
604,500 April 1 1943
$2,000,000 ($1,000, $500
Lehigh Valley Trust Co., Ailentown,Trustee.
$100) gold
c*tf (Int. at co's office or Brown Bros.& Co., Phil.
Coll
trust
bonds, $925.0001 1913
6 g J-J
924.200 July 1 1923
($1,000. $500, $100) gc*ntf|Int. at GIrard Trust Co.. Phlla., Trustee,
Equip trust "Ser A"
_tf
5 M-N
29,7.50
See text
Equip trust "Ser B"__
5 J-J
60,000
See text
Equip trust "Ser C"
5 J-J
140,000
See text
Norristown Transit
Bonds.—Of the $5,000,000 first mtge., $2,770,000 bear 4%
Interest and
Int. at the company's office and Brown
The 1st M. bonds are redeemable on any int. date, the
4s at 105 and the 5s at 110.
Of the consols, $2,500,000 4s were outstanding,
but $2,146,000 have been exchanged for ref. & impt. bonds.
Int. on consol.
bonds is payable at office of company or Brown Bros. & Co., Phila.
These
bonds are not subject to call.
Or the $15,000,000 ref. & impt. bonds
$5,000,000 are reserved to retire 1st M. bonds; $548,000 for consol. mtge.
bonds ($354,000 to take up bonds shown in table and rest for bonds previ¬
ously taken up); $3,334,000 for improvements and $600,000 are deposited
with the U. S. Housing Corp.; $548,000 are in treasury.
Bonds are red. at
110 and int. V. 92, p. 187; V. 94, p. 698, 982; V. 95, p. 750.
Int. is payable
at office of company or Brown Bros. & Co., Phila.
Bonds are listed on the
Phila. Stock Exchange.
The coll. trust notes of 1923 are redeemable at
are
all out, and $2,224,000 are 5s.
Bros. & Co., Phila.
par
and int. on any int. day.
Equip, trust "Series A" are-payable $4,250 semi-annually, "Series B"
$5,000 semi-annually, and "Series C" $10,000 semi-annually.
Lehigh Valley Lt. <& P. bonds are suoject to call on any int. date at 105
and Interest.
V
97. p. 365.
i
Dm<i"nds.—Initial div. on Dref.. 1%
paid Nov
10 1911
In 1912,
1913 and 1914. 2%.
In 1915, 3!*%.
In 1916 and 1917, 5%.
In 1918,
Feb., IHVc
None since. V. 106, p. 2123; V. 108, p. 268; V. 110, p. 261.
Total accumulated dividends, 27%.
EARNINGS.—For years ending Nov. 30 1919 report in
Fiscal
Year—
Operating
Net after
Revenues.
Taxes, Ac.
Other Int.,Amort.
Income. Disc.,Ac.
V. 110, p. 261):
Balance,
Preferred
Surplus.
Dividends.
$456,264
348,256
204,555
219,494
Ailentown
1918-19..$3,771,303 $1,044,923 $149,464 $738,122
1917-18.. 3.320.145
886.525 142,835 681,104
1916-17.. 2.875.074
1,034.654 144,756 725,873 (5%)$248,983
1915-16.. 2,471.872
1,104.087 145,210 780,820 (5%) 248,983
ROAD.—Operates 221 miles of railway. The road connects
Bethlehem, South Bethlehem. Hellertown, Nazareth, Siegfried,
ton,
Coplay, Catasauqua, Egypt, Emaus,
Subsidiaries.—On Jan
Consolid<ition of
Imp. mtge. of 1910; reconstruction of Mont. Trac. completed Dec. 12 1912
cutting down running time between Ailentown and Philadelphia (City Hall
from 4H to 2H hours.
An 8-mile cut-off on this division was completed li
1914 and the running time between Ailentown and 69th St. Terminal
Philadelphia. Is now 1 hour and 58 minutes.
In April 1913 purchased controlling Interest in stock of Easton Consoli
dated Electric Co. (V. 96. p. 1022)
On June 20 1913 shareholders author
fated an issue of collateral notes to pay for the purchase.
V. 96. p. 1489
1772.
Also has half interest in Norristown Transit Co. Franchises pernet
On Dec. 31 1915 purchased the franchises and property of the Quaker
town Trac. Co. (formerly leased) for the sum of $1 and the cancellation o
its indebtedness, all of which was owned by the Lehigh Vail. Transit Co
Under agreement made In July 1907 the Lehigh Valley Transit has it*
Philadelphia terminal In the Philadelphia Rapid Transit station at Chestnui
Hill.
V. 85, p. 99.
Late in 1912 made a contract for express service with
Adams Express Co.
In 1918, however, upon the taking over of the express
companies by the Federal Govt., this express service was discontinued
V. 108, p. 375.
Conducts through freight service between Ailentown and
Philadelphia.
Light and Power.—In March 1913 the Lehigh Valley Light & Power
Co. was organized as a consolidation of the Ailentown Electric Light &
Power Co. and numerous smaller companies all previously owned by
the Transit
Company.
Stock authorized, $850,000 (par $100); out¬
standing, $491,100, all owned by the Transit Co.
Does entire lighting
and power business in Ailentown, Bethlehem, South Bethlehem, Slating¬
ton. Catasauqua. Emaus and-adjacent territory; power is also wholesaled
to Macungie and to several municipalities along the Transit Co.'s litfa
Name of Company—
Lehigh Valley Light & Power Co.
Ailentown Bridge Co
Rittersville Hotel Co
Motor Co.
Northamp¬
Macungie, Slatington, Quaker-
3 1908 the (old) Easton Transit
the Easton Palm er & Bethlehem
Street Ry. were merged into the
(new) Eascon Transit Co. (V. 85. p. 1461) and in 1909
Bethlehem Trans. Co. was also merged into the (new)
the Easton & South
Easton Transit Co.
$2,150,000; all owned by Easton Consolidated Elec.
For decision of the Northampton County Court at Easton, Pa., on Dec.
28 1914 favorable to the Edison Illuminating Go. (a subsidiary), see Lehigh
Valley Transit Co. In V. 100, p. 140.
*
STOCK AND BONDS.—The
the Philadelphia
on
collateral trust 5s were In Jan. 1900 listed
Stock Exchange.
Interest.
Dale.
Stock $1,500,000 (par $50)._Stock (50% paid in)
Jollateral trust $1,300,000 gf 1899
5 g M-N
Outstanding.
Maturity.
all owned byL. V.T.Oo,
$1,237,000 Ma7 1 1949
c»tf (Interest at Girard Trust Co.. Phila., trustee.
6 A-O
69.000 Apr 1 1941
Tr. & Safe Dep. Co., Scranton. trustee
5 J^J
200,000 Jan 1 1939
gold $200.000
tf\U. a. Mtg. & Tr. Co., N. x .. trustee.
EasASo Beth Tr 1st M $500,-f 1906
5 g J-J
417,000 July 1 1936
000 guar gold ($1,000) c*tflGirard Trust Co., Philadelphia, trustee.
Bonds.—The c»Il. bonds have no s. f. and are not subject to call.
Of the
total of $1,300,000, $60,000 is reserved to retire the Penn. Motor bonds,
($1,000 and $500)
Pennsylvania Motor Go lstf 1891
mort. (cannot be called) tflLack.
Eas Palmer & Beth 1st mtge f 1898
t2,000 in treas. and $1,000 reserved forof $2,150,000 stock (entire issue)
Id. 111. Co. Issue Is secured by pledge
small amt. of outstanding scrip
of
of
Easton Transit Co., 12.317 shares (entire issue) of Edison Ilium,
2.400 shares (the entire Issue) or Penn. Motor stock.
Int. on
Raton k. So. Beth. Transit bonds is payable at office of Edw. B. Smith 8c
(new)
stock and
Co., Phiia., or at
by the Easton
They are guar. p. & f. by endorsement
A sinking fund of $5,000 o. a. commenced
Bonds are subject to call at 105 and
company's office.
Consol. Elec.
$59.000 have been retired.
V. 83, p. 323; V. 104, p. 2553.
June 1 1908;
int.
REPORT.—For calendar years.
Calendar
Year—
1916
Qross Earn. Net Inc. Net Inc. Total E.
—Railway Dept.— Ed.Ill.Co. Con.El.
$653,262 $206,160 $18,803 $224,963
Bond Int. Divs. Balance,
Tax..Ac. Paid. Surplus.
$67,545 $60,000 $97,418
534,644
133.029
19,833
152,862
67,806 60,000 25,056
475,611
126,907
24,057 150.964 67,577 69.950 13.437
Earnings.—The surplus earnings of the Easton Consolidated Elec¬
tric Co. for the year ending Nov. 30 1918 were $101,756 as against $159,700
for the year ending Nov. 30 1917.
1915
1914
..
Latest
ROAD.—Embraces practically the
entire street railway system of Easton
Pa., and Philipsburgt N. J., with lines from Easton to
South
Bethlehem,
Nazareth, and
Phiilipsburg, N. J.
total track, 54.389 miles, all standard gauge; operates through cars from
Easton to Bethlehem, South Bethlehem and Ailentown.
93 passenger
and West Easton,
Bethlehem.
12 service cars.
and
; V.-P., S. H. Hackett; Sec. &
& Asst. Treas., S. H. Sargent.—V. 97
838; V. 99, p. 1300.
OFFICERS.—Pres.,
Treas., E. E. Wagner; Asst. Sec.
53, 301, 311; V. 98, p.
p.
ALLENTOWN & READING TRACTION CO.—A trolley ro^d.
ORGANIZATION.—Incorporated April 25 1898 and leased the Allen
Reading Electric Street Ry. for 290 years from June 4 1898.
On
Feb. 6 1902 leased for 290 years the Kutztown 8c Fleetwood Street Ry.
Controls the Kutztown Light. Heat & Power Co.
Connects with United
Traction Co. tracks from Reading, thus forming a through line from Allentown &
town to
Reading.
.
Notice of an increase in
fare from 5 to 6 cents, except
1 1918, was filed with the
Rosedale, effective Jan.
and
„
between Reading
P. S. Comm. in
Dec. 1917.-
Receivership Denied.—On Aug. 11 1919 Judge Wagner denied the applica¬
stockholders of the Kutztown & Fleetwood Ry. Co. for a receiver
the Ailentown & Reading Traction Co. The action against the co. was
started in 1913.
V. 109, p. 675.
tion of the
for
0\Ustanding.
Maturity.
1250,000
».
$250,000 July lr1930
g. $100. $500 & $l,00Q-cptj Interest as Fidelity Trust Co., Phila., trustee
First M Kutztown & Fleetw'dl 1902
5gJ-J
200.000 Jan 11932
STOCK AND BONDS.
Stock. $750,000 (par $50)
Allent& Kutz 1st M $250,0001
Date.
Interest.
-
1900
—
5
g
J-J
FiS° consul*n?tge. $750"o5o{
1902
5 g J-J
300.000 July 1 1932
<fer.cptjlnt. at Integ. Tit. Ins. 8c Tr. Co., Phila..fcrus
1907
5 M-N
163,000 May 1 1937
($500 & $1,000)
c&r.tf/Berks County Trust Co., Reading, trustee.
Bonds.—Of the $750,000 or new consols, $450,000 are reserved to retire
prior liens.
They are subject to call at par since July 1 1917; no sinking
fund.
The firsi mortgage bonds are redeemable at par
EARNINGS.—For year ending June 30 1916, gross, $183,825; net.
$86,401; other income, $14,463; int., rentals, &c.. $77,682; surp., $23,182.
ROAD.—Operates 39.60 miles main line, 7.50 miles sidings—total
g
($500& $1,000) c
Second consol mtge
$300,0001
47.10 miles; 43 cars.
i
OFFICERS.—Pres., H. E. Ahrens,
../
Reading; V.-P.. W. D. Mohn; Sec {
Hamburg; Treas.. Geo. B
Bear, Kutztown.—V. 81, p. 1492; V. 82, p.
•»
K. Hoffman,
Shaffer, Reading-Supt.. W. J
216; V. 109, p. 675.
ALLIANCE, OHIO.
STARK ELECTRIC
•
RR.—An electric railroad.
v
ORGANIZATION.—Incorporated in Ohio and is a consolidation in Des.
Electric Ry. and the Stark Electric Ry.
Rate Increases.—In (June 1918 was authorized by the City Council to
charge a 6-cent fare; rate for tickets was increased from 25 for $1 to 20 for
$1. V. 106, p. 2561. In Oct. 1920 a 7-cent fare, with tickets at 16 for $1,
was being charged.
In 1918 was auth. to increase freight rates by 25%. In
Sept. 1920 freight rates were further increased.
STOCK AND BONDS.
Date.
" Interest.
Outstanding.
Maturity.
Stock, $1,500,000 ($100)
Q-J
$1,250,000
See text
First mtge, $1,000,000, goldf 1903
5 g J-J
830,000 Jan. 1 1928
>$i 000) sinking fund, call-{ Citizens' Sav. 8c Tr. Co., Cleveland, trustee.
able at 105
ctfllnt. at United Bank & Sav. Co., Cleveland.
Bonds.—Sinking fund 2% per ann. $170,000 have been retired.
Dividends.—First div., it %, paid July 1908; H % paid quar. to and incl
Jan, 1916.
In April 1916,1%; same rate quar. to and inci. Apr. 1917; none
to Oct. 1919, when a div. of 1% was paid. Same rate has been paid regu¬
larly quarterly since to and incl. Oct. 1920.
In April 1910 also a stock
dividend of 25%. V. 90, p. 448, 700.
1902 of the Alliance
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
Net.
Fixed Charges.
1919
1918
-
-
$517,688
494,161
$137,893
119,560
$91,976
86,794
Divs.
Surplus.
$25,000
$20,916
None
32,766
/
Oct., 1920. j
ELECTRIC RAILWAYS
ROAD.-—-Operatea 34 miles of track from Canton
to
Salem,
including
Alliance City lines.
Standard gauge.
67 and 70-lb. T rails and 70 and
90-1 b. girder rails.
Total mileage, including double track. 30 miles.
An
extension from Alliance to Marlborough and New Baltimore and eventually
to Akron is to be constructed: line partly graded.
OFFICERS.—Pres., Claus Greve; V.-P. & Treas., S. L. Sturgeon; Sec.,
E. 8. Cook; Aud., O. K. Ayers; Gen. Mgr., F. L. Mowry,.—Y. 102, p. 977;
V. 104, p. 2553; V. 106, p. 2561; V. 107, p. 83, 403.
5
Portland line, 32 miles; grand total, 453 miles.
tween
Through
be¬
cars are run
Indianapolis and Fort Wayne in conjunction with the Fort Wayne &
Nor. Ind. Trac. Co.
Provides package freight service between Indianapplis
and Muncie and Indianapolis and Logansport. and Peru, and to all other
points on the system.
Operates through freight service between
dianapolis and Fort Wayne.
By contract until Nov. 1933 cars are
over
tracks of
matter
Indianapolis Street Ry. in Indianapolis.
In¬
run
Carries express
per contract with Wells,
Fargo Express Co.
A large centra!
station, with necessary storage batteries at Anderson, operated on
three-phase system, with 19 sub-stations, likewise equipped with storage
batteries, operates entire system.
/
power
A
AMSTERDAM, N. Y,
FONDA
JOHNSTOWN
&
QLOVERSVILLE
RAILROAD CO.Steam and electric road.
See statement in "Railway & Industrial Sec."
.
ANDERSON, IND.
OP
INDIANA.—A trolley road
ORGANIZATION.—Incorp.
on May 13 1912 as a consolidation of the
otf Union Traction Co. of Indiana (Incorp. May 28 1903) and the Indiana
Union Trac. Co. (incorp. June 9 1903), per plan In V. 94. p. 1119. 1185: V
95.
819; and as a result of which capital was materially reduced.
The
legality of the consolidation was upheld in a decision by the Supreme
Court of Indiana in the fall of 1915.
The Indiana Union Tradtlon Co
had previously acquired the Indiana Northern Traction Co. (V. 81.
p
1«48), Muncie & Union City Traction Co. (V. 83, p. 96) and Muncie
Hartf. & Ft. W. Ry. <V. 82, p. 805, 869,1041).
The latter company wa#
leased to the Indiana Union Trac. at a rental (in addition to operating
exp., int. on bonds. &c.) .equivalent to5% on Mun. Hartf. *& Ft. W. Ry
$500,000 cum. pref. stock; V. 83, p. 90.
The old Union Trac. Co. of Indians
was a consolidation of the Union Trac. Co. of Indiana
(incorp. in June 1899)
and the Indianapolis Northern Trac. Co. (incorp. in April 1902).
Lease*
the Broad Ripple Natatorium Co.
Also owns the $100,000 1st M. 6soutstanding and $49,500 of the $50,000
stock of the Traction Light & Power Co. and a one-fourth interest in the
United Tractions Coal Co., which owns and leases valuable coal lands to
insure the co. an adequate coal supply.
(See Shirley Realty Co. of Ind
in V. 104, p. 1805.)
The Indianapolis Northern Traction assumed payment of the prln. and
Int. of half ($200,000) of the bonds of the Broad Ripple Traction Co. (see
p.
under Indianapolis)
Leases Indianapolis Newcastle & East. Trac. Co. for 99 years from Oct. 25
1912.
Lease modified on Aug. 21 1914 and com. & pref. stocks of the
Ind. New. & K
Trac. Co. formerly held were transferred in satisfaction
of obligations incurred in leasing that company and acquiring that stock
and in
building the Muncie-Newcastle line, and In consideration of further
for improving power facilities for that line, a total of about
$521,000 (V. 100, p. 975).
Lease again modified as of June 30 1916 ib
advances
connection with the lease of the Muncie &
co.
an
increase
in fare from 5 to 7 cents on the Broad Ripple line beyond Fairfield Ave. and
increases to 6 cents on the local lines in Anderson,
Muncie, Marion and
Elwood, but permitted it to increase the rate for mileage books on its lines
to 2 cents per mile, commutation tickets to 1H cents per mile (from 1 M
cents) and school passengers to 1 1-5 cents a mile.
Effective June 10 1918,
was auth. by the Ind. P. S. Comm. to increase fares from 2 to 2^ cents per
mile.
Y. 106, p. 2346.
Early in 1918 was auth. to increase freight rates.
On Jan. 10 1919 was auth. by the Ind. P S Comm. to increase interruban
rates from 2H to 2% cents per mile V. 108, p. 172.
Effective July 1 1920
the co.
was
auth. to
increase passenger fares to 3 cents per mile.
See
Ill,p. 75.
Refinancing.—On June 14 1919 the Ind. P. S. Comm. approved the exten¬
sion of $4,623,000 1st gen. M 5s due July 1 1919 to July 1 1922 at 6% (com-
V.
gare6% bonds due June 1 of $1,200,000 1 1922 at.6%. Both issues of ex¬
V. 108, p. 2434) and 1919 to June Ind. New Castle & Eastern Trac.
o.
tended bonds are red. at 101H and int. on lany int. date.
The Comm. also
approved the extension of $328,000 Marion City Ry. 6s due May 1 1919 to
May 1 1924 at 6%.
V. 108, p. 2630.
The co. also issued $150,000 3-yr. promissory notes dated July 1 1919 to
replace a similar issue due on that date.
The new notes are secured
by $40,000 par value of the co's stock, $18,017 com. stock of Shirley Realty
Co. and $25,000 1st Mtge. 6s of 1928 of Traction, Light & Power Co.
V.
108, p. 2630.
Dale.
Interest.
Common, $5.000.000
1st pref. $1,000,000, 5% cum.
2d pref, $3,000,000 (see test).
Ina Un Traction 1st M $5,-1
A-O
Maturity
Outstanding.
$5,000,000
1.000.000
See text
J-J 10
See text
3,000,000
5 g A-0
1,620.000 July 1 1933
1903
000,000 ($1,000) gold-, tf [Interest at Girard Trust Co., Phiia.. trust**.
Union Tr Co of Ind 1st genMl r1899
6 g J-J
4,623.000 July 1 1922
$5.000,000g($l,000)c&r*tf/Equitable Tr. Co., New York, trustee
Collateral trust notes......
0%
150,000 July 1 1922
Car trust ctfs Series A
49,000
Citizens' St Ry (Man) 1st M
1897
6 g J-D
36,000
Dec 1 1927
$250,000 s f sub to call 105. Interest at Guar. Trust & Safe Deposit Co.
($500 and $1,000)
Philadelphia, trustee.
c*T
Marion City 1st M $400,000
1895
6 g M-N
328,000 May I 1924
Sold ($1.000)—
lanapolls North
—ctf
Trac 1st
mtge $5,000,000 g ($1,000)
Equitable Trust Co.. New York, trustee.
1902
5 g J-J
5,000.000 July 1 1932
Equitable Trust Co., New York, trustee.
& i by Un Trace1* tf
500.000 Oct
1 1933
mtgef 1903
5 g A-0
$500,000 gold ($100, $500] Interest at Trenton (N. J.) Trust & Safe
and $1,000) guar.
c* tf t
Depot-it Co., trustee.
M H & Ft W pref stock cUrn__
5%
600,000
See text
do
do
first mtge $1,-1 1905
5 g J-J
916.000 Jan
11935
000,000 gold <$1.000)-C*tf j Int. at Guard. 8av.& Tr. Co., dev., trustee.
Muncie & Un O M $925,0001 1906
5 g J-J
925,000 July 1 1936
guar goid ($1,000) —.c? tf/Int. at Fidelity Trust Co.. Phila., trustee.
Broad RippleNatatoriumlstM \
5 M-S
31,000 Mar 1 1931
Guar, by Un.Tr.Co.of Ind. j Int. at Security Tr. Co., Indianap., trustee.
guar p
Indiana North Trac 1st
....
Stock.—Divs.
2d
pref. stock are cum. from 1% semi-annually
1913. scaling upward to 3% semi-annually in July 1918 and thereafter
Bonds.—Of
were
on
the
reserved for
Indiana
Union
bonds
Traction
of
1903,
in
$3,380,000
extensions and improvements, but under terms of con¬
agreement of 1912 these bonds have been canceled.
$494,000
held alive in the sinking fund (included in amount outstanding).
Sinking fund, IM% per annum of outstanding bonds became operative
on July 1
1904.
Fund is to be invested in the bonds at not above 105 and
Int., and bonds may be drawn at 105 and int. on any int. date.
$173,000
Union Trac. Co. of Ind. Gen. M. bonds are In treasury, including $150,000
solidation
are
pledged to secure the collateral trust notes: remaining bonds are reserved
for underlying bonds.
See V. 71. pj. 1013.
They originally bore interest
at 5% and matured July 1 1919, but have been extended to July 1 1922 at
6%.
Bonds are listed on the Philadelphia Stock Exchange.
The Indiana
Northern Traction bonds are subject to call at 105 and interest on six
weeks' notice.
They are guaranteed, principal and interest, by Indiana
Union Traction Co.
V. 82, p. 805.
The Muncie Hartford & Fort Wayne
bonds can be called Jan. 1 1925, or after, at par.
A sinking fund on those
bonds of 2M% of gross earnings per annum began July 1 1905.
See V. 80,
p. 1059.
$84,000 have been retired.
The Muncie & Union City bonds
subject to call at 105 and guar., prin. and int., by Indiana Union Trac¬
The Marion City first mtge. bonds originally matured May 1 1915,
but were extended to May 1 1919, and again to May 1 1924.
The collateral
trust notes were issued to refund a like amount of Anderson Eiec. St. Ry.
bonds which matured in 1912.
They fell due July 1 1917, but were ex¬
tended to July 1 1919, and again to July 1 1922.
are
tion.
Dividends.—5%
was
paid
on
93 interurban* 30 freight
suburban,
(1)
Indianapolis Newcastle & Eastern Traction Co.
Leased to Union Traction Co. of Indiana on Oct. 25 1912 for 999 years.
The lease provides for the payment of all taxes, interest on bonds, a sum
quivalent to 5% on the pref. stock, and a definite annual payment of
(1.050 on the com. stock.
A further amount, up to $10,420 a year, is
payable under certain conditions.
Compare V. 100, p. 975.
Leases the Muncie & Portland Traction Co. for 999 years from June 30
1916; see terms below.
ORGANIZATION .—Incorp. in Indiana on June 10 1912 as successor to
Indianapolis Newcastle & Toledo Eleq. Ry., sold at foreclosure.
Has
,he
private right-of-way minimum width 66 ft., except in corporate limits,
vhere shortest franchise expires Apr. 7 1933.
Under favorable contract
with Ind. Trac. & Term. Co. extending to 1933. operates through city into
Indianapolis interurban terminal.
Bond Extension.—See under United Traction Co. above and Y.108,p.2629.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$500,000
See text.
500,000
See text.
$1,500,000 gold) 1912
6 g J-D
1,200,OiO June 11922
...»—c*tf/Int. at Fidelity Trust Co., Phiia., Trustee
Common $500,000 ($100)-.-- Pref $500,000 5% cum ($100)-——
First
mtge
$1,000.-
Bonds.—Remaining
1st
M.
„
—
—
bonds may
be
issued
upon
fulfilment
certain covenants for 75% of cost of extensions, impts., betterments or ac¬
quisition of unencumbered properties. Red. as a whole (but not less) on any
Int. date on 8 weeks' notice at 10114 and int.
V. 94, p. 1695. No sink. fund.
Originally matured June 1 1919, but have been extended to June 1 1922.
ROAD —Included in Union Traction Co. of Indiana.—V.
1626, 1695; V. 96,
(a)
1917 the Ind. P. S. Comm. denied the
STOCK AND BONDS.
53
OFFICERS.—Pres., A. W. Brady. Anderson; V.-P
Philip Matter,
Marion:
Sec. & Treas., Wm. H. Forse Jr.. Anderson; Gen. Mgr., H. A.
Nicholl.
General offices, Anderson, Ind.—V. 107, p. 83; V. 108, p. 81,
172, 974, 2434, 2630; V. 109, p. 1274,1367; V. 110, p. 1090; V. Ill, p. 75.
p.
135; V. 100,
94, p.
982; V. 102, p. 2341; V. 108,
p.
p.
1565,
2629.
Portland Traction Co. to the
Ind. Newc. & Eastern Trac. Co., which see below.
Fares.—In Dec.
EQUIPMENT.—95 city cars,
and 89 service cars; total, 360.
first pref. stock to April 1914.
None since.
since July 1912.
The Muncie & Portland Traction.—-A trolley road.
ORGANIZATION.—Incorporated July 1905 in Indiana.
Franchises in
towns 59 years; in counties perpetual.
Lease.—Was leased as of June 30 1916 for 999 years to the Indianapolis
Newcastle & Eastern Trac. Co.
In connection therewith the co.'s capital¬
ization was changed from $1,000,000 stock, all of one class, to $500,000
preferred and $500,000 common.
The lease provides for the payment of
*11 taxes, a sum equal to 5% on the pref. stock, a definite annual payment
>f $4,530 and the payment of a further amount up to $17,370 a year con¬
tingent upon certain conditions.
aties and
OFFICERS.—Pres., E. B, Ball; V.-P.. W. O. Ball; Sec., G. A. Ball
fraas., F. O. Ball, all of Muncie, Ind.; Asst. Sec.. W. H. Forse Jr., Andor¬
ra, Ind.—V. 82. p. 1'438; V. 102, p. 2342; V. 106, p. 1037, 1901.
ANNISTON,
ALA.
ANNISTON ELECTRIC & OAS CO.
Merged in March 1915 with the Alabama Power Co.. a subsidiary of the
\labama Trac.. Lt. & Pow. Co.. for statement of which see our "Ry. &
industrial Section."
'
'
.
ASBURY
PARK, N. J.
ATLANTIC COAST ELECTRIC RY—Trolley.
ORGANIZATION.—Incorporated in New Jersey on Dec. 8 1905 as suc¬
cessor to the Atlantic Coast Electric Railroad Co., sold under foreclosure of
the general mortgage of the latter.
Leases the Seashore Electric Ry. of
Asbury Park until June 6 1937 at $10,000 per year and owns $150,000 of the
1200,000 total capital stock of that company (making net rental $2,500),
and owns all of the stock of the West End & Long Branch Ry. and of the
Asbury Park & Sea Girt RR.; the former Is leased from Aug. 3 1890 until
July 17 1945 at a nominal rental, and the latter for 99 years at 6% on stock
from Aug. 27 1898; both stock and bonds of Asb. Park & S. G. are owned.
Also entire stock ($100,000) of the Atlantic Coast Electric Light Co., which
supplies the electric lights of Asbury Park, Allenhurst, Belmar, Ocean
Beach, Como and Spring Lake.
The Seacoast Trac. Co. (capital $100,000),
running from Belmar to Spring Lake, 2 miles, has been leased to the Atlantic
Coast Eiec. Ry. for 99 years; its stock and bonds are owned.
Franchise in
Belmar expiree in 1947; in Asbury Park in 1937; in Long Branch, some ex¬
pire in 1945 and others are perpetual; In Ocean Townshipjperpetual; in Sea
Girt, expire in 1926 and 1956: franchises of Seacoast Trac. Co. are perpetual.
Decision.—Ou Dec. 1 1916 the Supreme Court at Trenton set aside an
order of the Board of P. U. Comm. requiring the company to give transfers
in Asbury Park and Bradley Beach, holding that the utility board cannot
violate a contract between the company and the city by imposing addi¬
tional burdens or lowering rates, unless the company consents.
The case
is now pending in the U. S. Supreme Court.
Y. 106, p. 2755.
Fares.—In Dec. 1918 the N. J. P. U. Comm., in acting upon the com¬
pany's application for a 7-cent fare. auth. an increase in fares from 5 to 6
cents.
V. 107, p. 2187.
In July 1920 the co. applied for auth. to increase
fares to 8 cents but the P. U. Comm. permitted an advance to 7 cents only.
V. Ill, p. 388.
|
STOCK AND
-
gold
-
5 M-N
1895
Maturity.
See text
800,000 May
1945
$1,000,000), 1900
5 g J-J
1,000,000 July 1 1945
ctf /Interest at Central Trust Co., N.Y..Trustee.
($1,000)
Seashore
Outstanding.
$1,000,000
Interest.
-
1
ntf lint, at Columbia Trust Co., N. Y., Trustee.
000
General mortgage
Seashore Electric
Date.
BONDS—
Stock $1,000,000 (1100)
First mortgage gold $1,000
Ry stock
Ry first)
Electric
mortgage $200.000
Atlantic Coast Electric
....
1892
200,000
200,000
5
0 g J-J
Jan. 1 1921
tf/lnt. at N. Y. Trust Co., N. Y.
Light f ....
5 J-D
201,000 June 1 1945
ntf (Int. at Asbury Park & Ocean Grove Bank,
[ Asb.Pk. Morton Tr.Co.,N.Y..Trustee.
first mortgage gold
Neptune Electric Co..--.--..
36,000
6%
—
Bonds.—Of the $1,000,000 1st 5s, $200,000 are reserved to retire a like
Ry. 6s.
The latter are subject to call at 105.
They
fell due originally in Jan. 1917, but have been extended from year to year.
Entire bonds ($50,000) and stock (1100,000) of the Asbury Park & Sea
Girt and entire bonds and stock or the Seacoast Traction Co. ($100,000
amount of Seashore
each) are deposited under the new general mortgage.
Dividends.—In 1906 and 1907, 6%.
In 1908 to 1916, 3%; none since.
ROAD.—Belt line In Asbury Park, 5.85 miles; Asbury Park to Pleasure
Bay and North Long Branch. 1.4-60 miles; Asbury Park to Manasquan,
14 16 miles: total track, 36-08 miles.
Connects at Pleasure Bay with the
New York & Long Branch Steamboat Co.
'
1916.
1915.
1914.^
earnings--$458,332 $406,967 $424,934 $420,708 $409,007 $428,763
Oper. expenses—*336,221 x393,517
373,711
273,299 255,872 248,953
REPORT.—Years ending Dec. 31:
1919.
1918.
1917.
Gross
Divs. on second pref. stock have not been paid
REPORT.—For cal. year, Incl.
Calendar
Gross
Net (after
Year—
19191918
Famines.
$3,781,554
3,198,821
Passengers
Taxes'>.
$899,186
823,424
Muncie-Portland line:
Other
Bond
Sinking
Income.
$17,518
21,627
Int., Ac.
$898,669
880.048
Net earnings_ _S122,111
Balance,
Fund.
Deficit.
sr$18.035
63,546
98,543
......
parried in 1919, 17,484,198, against 16,597,199 in 1918.
ROAD.—Owns
the
following lines:
Muncie-Anderson-Indianapolis,
5614 miles;
Anderson-Marion-Wabash, 53 H miles; Alexandria-Elwood,
Tipton, 20 miles; Indianapolis-Kokomo-Logansport. 80 miles: KokomcPeru, 19H miles; Muncie-Union City, 33 miles; Anderson-Mlddletovrn.
9 H miles: also 10 miles of city lines in Anderson; 14V$ miles in Marion;
16 miles In Muncie, and 4 miles in Elwood; total, 272 miles of interurban
and 4414 miles of dty lines.
Also leases Muncie-Hartford City-Blufffcon
line, 42 miles; Indianapolis-Newcastle-Muncie line, 6234 miles, and Muncie
x
$13,450
$51,224 $147,409 $153,135 $179,810
Includes taxes.
OFFICERS.—Pres., S. F. Hazelrigg; Sec., A. R. Asay; Treas.,
Cade.—V. 81. p. 1722; V. 106, p. 2755;
G.B.
y. 107, p. 801, 2187; V. Ill, p. 388.
ASHTABULA, OHIO.
ASHTABULA RAPID TRANSIT
In Feb. 1907 control of
CO.,
this road was acquired by L. A.
of the Penn. & Ohio Ry„ and associates.
,
^
^
Robison, Pres.
.
,
Receivership.—In Sept. 1920, it was reported that the co. had been placed
In the hands of a receiver.
See V. Ill, p. 1082 for details.
City Purchase.—On Oct. 14 1919 the Ashtabula City Council voted to
approve a tentative offer made by the company under which the city may
.
acquire, free of debt, the entire property for $296,000.
But the city waives
its creditors' claims (about $25,000) against the company.
For further
particulars see V. 109, p. 1700. 2439.
On April 27 1920 an ordinance
providing for the purchase on the above terms was carried at a referendum
election.
V. 110, p. 2191.
In Sept. 1920, however, we were informed
that this action had been held up pending settlement with some creditors
who
were
V. Ill
unwilling to pro rate their claims with the bondholders.
ORGANIZATION.—Chartered Oct. 7 1890.
STOCK AND- BONDS—
Stock. $500,000
1st
75,000
\Citizens S. 8c T. Co., Cleveland, trustee.
reserved for prior liens.
1st M.
originally matured July 1 1911 but were extended 10 ysara to July 1
2d mtge. bonds are
V,
1921.
EARNINGS.—Years ending Dec. 31:
Cat. Years—
Gross.
Net.
$22,270
32,720
22,733
..$104,242
100,195
80,711
1917
1916
1915
The shares of the Atlanta Gas Light Co. and of the Atlanta
982, 1119.
Northern Ry. are not Included in the premises demised under the lease,
but the lessor assigned and transferred to the lessee, for and during the term
of the lease, the Income arising from any and all of the said shares.
ORGANIZATION.—Incorp. in Georgia
July 11921
307.000 Sept 15 1927
5 M-S
/ 1907
$500,000
Bonds.—$75,000
bonds
In 1st pref. and $125 in 2d pref. stock of Georgia Ry. & Power Co., V. 94,
$500,000
6 g J-J
gold\ 1891
c*&r JInt. at Central Trust Co., Trustee, N. Y. C,
($1,000)
2d mtge.
Maturity.
Outstanding.
Interest.
Date.
-
-
$75,000,
mtge,
Electric Co.
Georgia Railway St
(1)
Lease.—On Jan. 30 1912 the stockholders of the Georgia Ry. 8c Elec. Co.
approved the 999-year lease from Jan. 1 1912 to the Georgia Ry. & Power
Co.. which provides that the latter company guarantee all the fixed charges
and divs. on pref. stock and divs. of 8% on com. stock, the holder of each
$100 com. having received, as additional consideration for the lease. $3.12 H
p.
1082.
p.
[Vol. 111.
ELECTRIC RAILWAYS
6
-,
I
„
Bal.. Surp.
acf. $8,494
Interest.
$23,866
23,217
2,752
1
tor the greater part
perpetual; others 50 years from August 1899.
Com-
the company paid the city of Atlanta $50,000 In
nitting consolidation,
sash, and agreed to pay a tax on gross receipts of 1% for first 3 years, 2%
for the next 20 years and 3% thereafter.
V. 74 p. 397, 727.
In Oct. 1902
both pref. and com. stock were listed on Boston Stock Exch.
V. 75, p. 849.
also listed on the Louisville Exchange.
In June 1903 acquired the entire capital stock ($600,000 6% pref. and
$1,014,625 com.) or the Atlanta Gas Light Co., comprising the gas business
of Atlanta and vicinity, by exchange of stock, $ for $.
V. 76, p. 1406.
They
are
however, maintains a separate organization.
Also owns
capital stock of the Atlanta Northern Ry.
Early in 1920 Issued $189,000 additional bonds to cover cost of improve¬
prior to Dec. 31 1919.
entire
ments made
STOCK AND BONDS—
($100)
Interest.
Date.
ORGANIZATION.—Organized on Dec. 1 1919, as successor to the
Pennsylvania & Ohio Ry. Co. which was sold at receiver's sale Sept. 8 1919
to the bondholders' committee.
V. 109, p. 776, 1367.
For history of
Ry. Co. see "Electric Railway" Supplement of April 24 1920.
Capital stock $400,000, 1st mtge bonds $100,000 authorized.
EARNINGS.—For calendar year 1919, gross. $144,778; net,
$118,096; net, $20,860.
$11,513.
Conneaut city line, 3 miles, and has
Ashtabula. 13 miles, and
total, 26 miles.
built westward from Conneaut to Kingsville 8c
south from Ashtabula to Jefferson. 10 miles;
MoGovern;
Gen.
Mgr.,
Palmer Wardman;
Sec. & Treas,, W. W. Ilowes.—V. Ill, p. 1662.
5
See text
See text
$2,400,000 (par $100)
Ref 8c imp mtge $20,000,000
5214.000
Jan 1 1949
1909
5 g J-J
gold ($1,000)
c»/lnt. at Amer. Trust Co.. Boston. Trustee.
first cons mtge $11,000.0001 1902
5 g J-J
5,660,000
Jan 1 1932
gold sink fund ($1,000)—e*j Int. at Old Colony Trust Co., Boston, Trus.
iUanta Street Railroad first
f 1890
225,000 July 1 1930
6 g J-J
mortgage gold (par $l,000mnt. payable in N. Y. at Fourth Nat. Bank.
i
Central Trust Co., N. Y., Trustee.
'
■
Maturity.
Outstanding.
$8,514,600
2,400.000
-F
—
Preferred 5% non-cumulative
Thos.
and on April 1
£rises tne street railway, electric-light, gas, terms of and ordinance periterests of Atlanta and Fulton County.
power the steam-heating
By
Oommon
PENNSYLVANIA & OHIO TRACTION CO.—A trolley road.
OFFICERS.—Pres.
f902,
The gas
company,
OFFICERS.—Pres. & Treas., L. A. Robison, Cleveland; Sec.. 3. W
Coltman, Cleveland, O.; Supt., Robert Hughes, Ashtabula.—V. 109, p.
1700, 2439; V. 110, p. 2191; V. Ill, p. 1082.
ROAD.—Owns and operates the
Jan. 28
,
f
„
Taxes.
$6,898
6,751
ROAD.—Operates 5 miles of track on bM miles of street.
In 1918, gross,
on
1902 took over the Atlanta Ry. & Power Co., the Atlanta Rap. Tran Co.,
the Georgia Electric Light Co. and the Atlanta Steam Co.
Franchise
Atl Cons St Ry 1st consM$2.-f
1899
5 g J-J
1,850,000
Jan 1 1939
500,000 g($1.000each) —c*(Int. payable In N. Y.at, N. Y. Trust Co. and
at Merc. Tr. 8c Dep. Co. of Bait., Trustee.
1900
Jeorgla Elec Light Co 1st M
5g J-J
1,350.000 July 1 1930
$2,000,000, gold, subject to Interest at Old Colony Trust Co., Boston.
call at 105
Trustee
'
c*
1897
5 g J-D
Gas-LIght Co, 1st M
1.150.000 June 1 1947
$1,150,000. g ($1,000)—c* Interest at New York Trust Co., Trustee, or
Bank of Scotland, London, Eng.
~M
ttlanta
GA.
ATLANTA,
GEORGIA
198
Bonds.—Of the $11,000,000 Georgia Railway & Electric Company
RAILWAY & POWER CO.
ORGANIZATION.—Incorp. In Georgia on Oct. 16 1911 to take over
the
following properties (V. 93, p. 1191, 1725):
Georgia Power Co.
South Carolina Power Co.
8avannah River Power Co.
Also leases the Georgia Railway A Electric Co. (see below).
In Sept. 1920 was auth. by the RR. Comm. to increase light
and power
rates, effective Oct. 1 1920.
In Sept. 1920 the RR. Comm. auth. a charge
of 7 cents for passenger fares except such fares as are fixed by contract be¬
sinking fund of $6 60
25%.
V. Ill, p. 1369.
Early in 1920 issued $601,000 additional bonds to cover improvements
made prior to Dec. 31 1919. In Jan. 1920 the co. issued $2,500,000 coll.
due on Feb. 1 1920. V. 110,
764, 1088.
In 1920 the co. Issued $278,000 equip, trust notes in part
payment for 27 new cars.
Compare V. 110, p. 2568.
STOCK AND BONDS—
Interest.
Date.
Common, $15,000,000 ($100)
1st pf$2,000,000 6% cum($100)
2d pf$10,000,000 4%n-c($100)
1st & ref mtge $30,000,000 gl 1914
See text sinking fund—c*jlnt. at
Atlan Wat & El P 1st MT 1903 .
Outstanding.
Maturity.
$15,000,000
2,000,000
10,000,000
Q-J
—
2,500.000 Aug
11922
($1,000) g
c*tf\Drexel & Co., Phila., Pa.. Trustee.
Equip trust notes Series "A"_. 1919
90,000
.See text
Equip trust notes Series "B"__ 1920
264,000
See text
Stock.—After the 2d pref. and common stocks have both received 4%
per annum for 3 successive years, the 2d pref. stock becomes com. stock.
Bonds.—Of tne $30,000,000 First and Refunding Mtge. bonds, $1,367,are
reserved
to
retire
prior
liens, $3,750,000
are
pledged
as
when Issued on account of additions as security for the collateral
000
and
?^I?8^trl?,a^.a-s^1Io58: 1919
53,
15
17s.
7d.
1920.
Of
ROAD.—Owns 212.673 miles of
90-lb. rails.
Oct. 1 1916.
Remaining bonds were called for payment July 1
1917 at par and interest.
Both Savannah River Power mortgages were also
called for payment in 1917.
The Atlanta Water & Elec. Power bonds are
BubJ. to call at 105. The issue was originally for $1,500,000 but has been
closed at $1,400,000. Sk. fd. Jan. 1 1908 to Jan. 1
1917, incl., $5,000 per
maturity. $10,000
per
ann.
See V.
102,
p.
1540.
Collateral notes of 1920 are secured by deposit
of $3,751,500 1st & Ref. M. bonds.
Callable on 4 weeks' notice in amounts
not less than $500,000 at 100
M and Int. on or before Feb. 1 1921 and at
100H and int. thereafter.
.
Penna. 4 mills tax refunded.
EnmP- trust notes Ser. "A"
$14,000
semi-ann.
(a)
are due 10% annually.
Ser. "B" mature
April 1 to April 1929 and $13,000 Oct. 1
each Oct. and
Dividends.—An initial div. of $4 70 per share was
paid Jan. 20 1913 on the
1st pref. stock, covering the 9 2-5 months since It was issued (March
1912).
i7a?^ 19i7,,p,aid,3%
paid
4%
additional
on
on account of accumulations (24%).
account of accumulations.
Regular
Has since
quar.
divs.
beginning April 1917 to Oct. 1 1918.
REPORT.—Of combined properties (1919 report in V. Ill, p. 786);
Gross
Net (after
Other
Int., Rentals,
Balance,
Earnings.
Taxes).
Income.
Sk.Fds.,&c.
Surplus.
1919
$10,592,498
$3,688,412
$139,786
$2,598,895
$1,229,303
Calendar
Year—
8,836.535
2,984,565
160.775
2,527,792
617,548
7,807,039
2,915,597
189,271
2,485,242
619,626
Passengers carried (on city system) in 1919, 93,596,056, against 85,481,-
1917
204
m
1918.
PROPERTY.—Total
miles
track, 248.147.
Standard
gauge.
70, 80 and 90-lb. rails.
Owns water power sites in Northeastern Georgia
capable of an ultimate development of over 577,900 h. p.; present develop¬
ment, 166,800 h. p.
Transmission and distributing lines aggregate 676.85
miles.
The interurban line from Atlanta to Stone Mtn. was completed In
Nov. 1913.
The hydro-elec. plant at Tallulah Falls was placed in operation
April 1 1914.
The sixth and last unit of 12,000 k. w. of this development
was put into operation in March 1919.
single
OFFICERS.—Chair, of Board, H. M. Atkinson; Pres., P. S. ArkwTight:
Vice-President, G. W. Brine;
V.-Pres.
&
Mgr. Rys., W. H. Glenn; Sec..
W. H. Wright; Treas., I. S. Mitchell Jr.; Aud., H. Flynn, all of Atlanta,
—V. 110, p. 764, 970, 1088, 1289, 2568; V. Ill, p. 786, 1369, 1661.
Wright.—
Atlanta Northern Railway Co.—A trolley road.
ORGANIZATION.—Entire stock Is owned by the Georgia Railway
Electric
which
Co.,
8c
bonds.
the
guarantees
STOCK AND BONDS—
Interest.
Date.
Maturity,
Outstanding.
$100,000
1904
5 g J-J
400,000 July 1 1954
($500 and $1,000) gold—c*JInt. at Old Colony Tr. Co.. Boston. Trustee.
Stock, $100,000
-
Bonds.—Are guar., p. 8c I., by end., by the Ga. Ry. & Elec. Co.
Are sub¬
ject to call on any Int. date at 110 and Int.
A sink, fund of $5,000 per ann.
began In 1909; $74,000 bonds are held alive in sink. fund.—V. 79, p. 680,
EARNINGS.—For years ending Dec. 31:
Gross.
Net.
Taxes.
Year—
1918
1917
——
$7,351
5,539
5,430
$54,063
52,283
33,220
$222,422
184,567
141,537
1919—
Balance.
$28,240 sur.$18,472
28.795
sur.17,949
28,385
def.
595
Int.,&c.
ROAD.—Operates 18 miles of.track from Atlanta to Marietta, 15.2 miles,
are
owned and mostly on private right of way.
Has arrangements
with Ga. Ry. & El. Co. for terminals and trackage rights into the city of
Atlanta.
Standard gauge; 7 cars.
Commenced operation July 17 1905.
—V. 79. p. 680.
which
ATLANTIC
ATLANTIC
CITY
&
CITY, N. J.
SHORE CO.
ORGANIZATION.—Incorporated in 1909 in Delaware.
Owns 2,995 of
3,000 shares of the Atlantic 8c Suburban Ry. Co. stock and a majority
the
($49,000 bonds) and Atlantic
$591,100 outstanding 1st mtge.
of the stocks of the Central Passenger Ry. Co.
City & Shore RR. Go.
Also
owns
all of the
bonds of Atlantic & Suburban Ry.
STOCK AND BONDS—
Date.
Stock, $1,000,000.
Interest.
Outstanding.
4%
591.100
are secured by $591,100 Atl. & Sub.
bonds and 2,995 out of 3,000 shares of stock of that company.
due Feb.
1 1928 or Feb. 1
OFFICERS.—Pres.,
I.
L.
tf
1910
Maturity.
$995,500
,
Ooll trust; $591,100-—
The collateral trust 4s
See text
1st mtge
They fall
1940.
Harry
E.
Kohn;
Sec.,
L.
R.
Isenthal;
Treas..
Stone.
Atlantic City & Shore RR.—An electric road.
Default—Receiver.—Int. due Dec. 1 1915 was defaulted, due largely to
losses caused by jitney buses.
Judge Clarence L. Cole was appointed re¬
ceiver, but on June 9 1919 was succeeded by A. J. Purinton.
The following
bondholders'committee has been organized; Geo. Burnham Jr., Frank H.
Bachman, Tilghman Johnson and
John D. Mcllhenny..
Y. 101, p. 1884.
(1)
1929 and April 1 1930.
of 1H%
70, 80 and
2 power stations
track (single-track basis).
325 passenger and 36 other cars.
OFFICERS.—Pres., Frank E. Block; Sec. & Treas., W. H.
V. J07, p. 401,'V. 109, p. 981; V. 110, p. 970, 1289.
•
dated
52o'L^?reaf^te,r
1917.
EARNINGS.—Included la report of Georgia Ry. 8c Power Co. above.
t0 1?24- «75.000; 1925 to 1928. $100,000;
$12o,000; $206,000 held in sink. fd. (not incl. in amt. outstdg.)
Coupon bonds $1,000 or £205 15s. 3d. and $500 or £102
the $1,100,000 outstanding Blue Ridge Electric Co. 1st
mtge. bonds, due July 1 1940, $863,500 were stamped and purchased by
the Georgia Ry. & Power Co. as per agreement made
by Georgia Power Co.
Jan.
Atl. Consol. St. Ry. bonds are red.
1% of bonds out began in 1910.
$338,000 retired by sinking fund.
Dividends.—Dividends are now paid under lease (see above).
For record
gold
notes,
and
balance
is
for
future
additions,
&c., under
pro¬
tective restrictions.
Subject to call at 102M and
interest to April 1
1923, and thereafter at 105 and int. after 56 days' notice.
Bonds are
callable for sinking fund at same rates and dates.
Annual sinking fund
1929 to
$1,000 bond on the Atlanta Gas Lt. Co. bonds
per
First mortgage $400,000 guar 1
5 J-J
1,400.000
Jan 1 1943
(closed) g ($1,000)—c*cpt/Inc. at Columbia Trust Co., N. Y., Trustee.
Collateral
notes
7 g F-A 1
bonds
107}$, but $25,000 in Jan. of each year for sinking fund at
of dividends paid prior to lease, see this section for January
See text
5 g A-O
15.619,500 Apr l 1954
Fidelity Tr. Co., Phila., Trustee.
$2,500,000/ 1920
of
mainder for extensions and Improvements up to 75% of actual cost.
Bonds
are subject to call on 50 days' notice at 105 and int.;
a sinking fund of
notes to refund a like amount of notes which fell
p.
$10,000
See V. 74, p. 629, 727.
Of the ref£& impt. mtge. bonds. $11,230,000 are reserved to retire
prior liens (Includmk the $400,000 Atlanta & Northern bonds) and re¬
and the cities of Decatur and College Park.
were raised to 8 cents in Sept. 1920.
V. Ill, p. 1369.
V. Ill, p. 1661.
In April 1919 the City Council of Decatur, Ga., denied the company's
petition to have the 5-cent cash fare contract suspended and to permit the
company to charge a 6-cent fare. V. 108, p. 1721.
Gas rates in Sept. 1920
whole at
a
retires
thereafter.
at 105.
Fares In Gainesville
raised about
annum
operative; $285,000 bonds in fund.
as
which
inclusive; $25,000 per annum from 1912 to
A
& Power Co. (see p. 45 o'
$180,000
V. 103, p. 144
In'Jan. 1917 the company acquired all the interests of the Franklin Light &
Pow. Co., Broad Riv. Pow. Co. and the J. B. McCrary Co. at Hartwell, Ga-
were
1907
In
operative
is
In June 1916 purchased the Gainesville Ry.
"El. Ry. Section" for May 1916)
for about
co.
became
year from 1907 to 1911,
1916, inclusive, «nd $50,000 per
Inter-State Power Co.
tween the
sinking fund
each
Atlanta Hydro-KJec. Power Co.
Atlanta Water & Elec. Power Co.
bonds
(closed mtge.) of 1902, $3,450,000 are reserved to retire underlying liens;
balance has
been
retired. Red. on any int. date at 110 and Int.
A
ORGANIZATION.—Incorporated In New Jersey Oct. 21
1905 with a
Leases Atlantic City 8c Ocean City RR.—see terms
perpetual charter.
$218,500 of the common stock of the Atlantic City 8c
Ocean City Company, which holds all the stock and bonds of the Atlantic
City & Ocean City RR.
V. 85, p. 158.
Operates over the Central Pass.
Ry. Co. tracks under traffic agreement.
below—and
Contract
entered
owns
with
Into
West
with
dk Sea Shore
West Jersey &
Jersey
the
RR.—An agreement has been
Sea Shore RR. by which the
Atlantic Ave. line of the latter road, running from Atlantic City to Longport, 8J4 miles. Is operated bv this company.
Fare Increases.—On Nov. 1 1918 was auth. by the N. J. P. U. Comm. to
increase fares from 5 to 6 cents. V. 107, p, 1836. Compare V. 107, p.
179
Effective July 1 1920 cash fares were raised to 7 cents on a majority
801.
of the coi's lines. V. Ill, p. 188.
hauls were also raised.
STOCK AND BONDS—
Stock.
1st
$1,000,000
mtge
&
coll
Interest.
($100)
trust
$1,000,000 ($1,000)
Bonds.—No
Compare V. 110, p. 2386.
Date.
deed!
1905
g.c*tf/lnt.
sinking fund, but
5 g J-D
at Glrard
can be
Rates for longer
Outstanding.
Maturity,
$1,000,000
950,000 Dec
1 1945
Trust Co., Phila., Trustee
.
called at any time at 110 and Int.
ROAD.—Operates 47.45 miles of track In and around Atlantic City, In¬
cluding a road through Pleasantvllle, LJnwood and Somers Point, to Ocean
City, the latter two points being connected by 2 miles of trestle and bridge
owned by the Atlantic City 8c Ocean Cityl RR.
Oct.. 1920.1
ELECTRIC
EARNINGS.—For cal. year 1919. gross. $784,112; net. $225,650; other
ROAD.—Owns and operates 56.9 miles of track, of which
31.4 miles
city lines and 25.5 miles interurban between Augusta and Aiken, 60
100-lb. T rails.
Standard gauge.
Owns Lake view Park on Lake
Olmstead. *
OFFICERS.—Pres.. F. Q. Brown; V.-P., J. H. Pardee and J. K. Ohoate;
Sec. and Treas., D. H. Thomas; Mgrs., J. G. White Mgt. Corp.—V. 108,
are
rents, &c., $245,006; bal., deficit, $19,356.
OFFICERS.—Pres., I. H. Silverman; V.-P., Charles Evans; Sec.,J.M.
Campbell; Treas., I. L. Stone; Gen. Supt., A. J. Purinton.—V. 106, p. 2122,
2343; V. 107, p. 179, 801,1836; V. 109, p. 981; V. 110, p. 2386; V. Ill, p.188.,
Atlantic City & Ocean City Company.
City & Ocean City Company was organized in Delaware
the entire ($180,000) stock and all the ($180,000) bonds of the
Atlantic City & Ocean City RR. and has pledged them as security for the
(a)
The Atlantic
and
to
2240; V. 109, p. 472, 1079; V. 110, p. 2191, 2487; V. Ill, p. 293, 686.
p.
owns
AUSTIN,
collateral trust bonds below.
Or the common stock of the Atlantic City &
$218,500 is owned by the Atl. City & Shore RR.
The
City & Oceah City RR. for 999 years, the rental be¬
annum, and an additional contingent sum equal to 33 1-3%
Ocean Qitt Company,
latter leases the Atl.
ing $19,500 per
of the net surplus, but not to exceed $25,000 per annum.
STOCK AND BONDS—
Date.
Interest.
Maturity
Outstanding.
-
ROAD.—The Atlantic City & Ocean City RR. owns 2.61 miles of road
from Somers
Point, across Great Egg Harbor Bay, on bridge and trestles
Ralls, 85 lbs.
V. 85, p. 158; V. 87, p. 165.
OFFICERS.—Pres., Penrose Fleisher; Sec., J. M. Campbell; Treas,.
to Ocean City.
Irvin L. Stone.
(2) Atlantic & Suburban Ry.
ORGANIZATION.—Incorporated In New Jersey Dec. 7 1908 as a re¬
organization of the Atlantic City & Suburban Traction Co., sold under fore¬
closure of 1st mtge.
V. 87. p. 1237, 1532.
Fare Increase.—Effective
Comm. to
April 15 1920, was auth. by the N. J. P. U.
put into effect an increased fare schedule.
V. 110, p. 1288.
STOCK AND BONDS—
Maturity,
$150,000
591,100 Aug 1 1929
Interest.
Date.
Outstanding:
Stock. $750,000 ($50)
First
$650.0001
mortgage,
($1,000)
Prior lien M, $100,000,
4 g F-A
1909
c*tf/Int. at Cambridge Tr. Co., Chester, Pa., Tr.
guarl
5%
100,000
Feb 1 1925
& i, by A C & S Co
oper.
Maturity.
$560,000
See text.
250,000
See text.
1911
5 g J-J
786,000 Jan
1 1936
gold ($1,000)
Jlnt. at Equitable Trust Co.. N. Y„ trustee
Bonds.—$714,000 1st & ref. bonds are reserved for additions, &c.
They
are subject to call on any Int. date at 102V^.
Annual sinking fund of 2%
of bonds out began in 1915.
V. 92, p. 185; V. 93, p. 1461. $125,000 (not
Included in amount reported outstanding) in sinking fund Oct. 1 1920.
Dividends.—Prior to 1915 paid 6% on pref. and 4% on common stock.
STOCK AND BONDS—
Common
$750,000
Interest.
Date.
Outstanding.
($100)
Pref $500,000 ($100) 6% n-c
First & ref mtg $1,500,0001
__
No later Information.
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
Net.
Int.&Tax. Sink.Fd.
--$290,080
$87,859
273,184
96,696
$64,327
ROAD.—Operates 22.67 miles of track.
Balance.
Deprec.
1919
1918
—
-
$15,720
$23,748
def.$7,099
55 and 72-lb. rails; 52 cars.
OFFICERS.—Pres., W. J. Jones; V.-P., F. H. Watrlss; Sec., D. A.
Bush, Austin, Tex.;
Asst. Sec., G. P. Gannett, Augusta, Me.; Treas.
P. Wilraot; Asst. Treas.. G. E. Macomber, Augusta, Me.—V. 93, p.
526, 1461, 1531; V. 110, p. 2487.
E.
V. 87, p. 1237.
MASS
AYER
year 1919, gross (all sources), $112,773;
and fixed charges, def. $15,451.
In 1918, gross
(all sources), $91,157; net, after oper. exp. and fixed charges, def., $10,105.
after
neo,
on Jan. 3 1911 as successor
Franchise expires in 1942.
1 1920, the co. was auth. by the Austin
City Commissioner to install a 7-cent fare, with 4 tickets for 25 cents.
V. 110, p. 2487.
.-v.
I
the Austin Electric Ry.
to
tf J
Bonds.—Bonds have no sinking fund.
EARNINGS.—For
TEX.
AUSTIN STREET RY.—A trolley road.
ORGANIZATION.—Incorporated in Texas
Fare Increase.—Effective June
Common, $350,000
$220,000
Pref 5% nou-cum $250,000
175,000
Collateral trust gold $500,-1 1907
5 M-S
350,000 Mar 1 1947
000 redeemable 110 & Lot tf j Girard Trust Co.. Philadelphia, Trustee.
Stock.—-The pref. stock is redeemable at par.
p
7
RAILWAYS
calendar
LOWELL & FITCHBURG STREET RY.—A trolley road.
In 1913 W. W. Sargent, President of the Fitchburg &
exp.
ROAD.—Operates 16,13 miles of track from Atlantic City to Pleasantville, Somers Point and Absecon.
Standard gauge, 80-lb. T rail.
Leominster Street
Ry., and associates acoulred control.
ORGANIZATION.—Incorporated in Massachusetts in 1903.
STOCK AND BONDS—
Date.
Interest,
Outstanding.
Maturity.
Stock $275,000 ($100)
$275,000 In 1919, 3%
First mtge
(see text) gold/ 1906
5 g J-J
275,000
Jan 1 1926
($1,000) no sinking fund-Subject to call at 105 and Interest,
Bonds.—First mtge. was originally for $1,000,000, but has been closed
——
OFFICERS.—Pres.,
Harry
E.
Kohn:
J, M.
Sec.,
Campbell; Treas.;
110, p. 1288.
Irvin L. Stone.—V. 87, p. 1532; V. 88, p. 881; V. 90, p. 1424; V.
$275,000.
at
AUGUSTA,
Dividends.—In 1916, 2%; 1917, 6%; 1918, 6%; 1919, 3%.
EARNINGS.—For year ending Dec, 31 1919, gross, $101,784;
GA.
AUGUSTA-AI KEN RY. & ELEC. CORPORATION.
Offered to City.—In July 1920 James TJ. Jackson, former V.-Pres.,
announced that he had secured an option on control of the co's. stock.
This he offered to the city on the following terms, 20,000 shares of com.,
at SlO'per share, and 2,500 shares of pref., at $25 per share, making a total
cost to the city of $262,500For further details see V. Ill, p. 293.
ORGANIZATION.—Chartered
in
1906
March
laws
under
as Augusta & Columbia Ry. Co.; name changed to
1911 and is a consolidation of the following companies:
Carolina
of
South
above In April
Augusta-Aiken Ry. & Elec. Co.
I
Augusta Ry. & Elec. Co.
Augusta & Aiken Ry. Co.
j
North Augusta Elec. & Impt. Co
Owns and operates entire railway systems of Augusta, Ga., and North
Augusta, S. C., and a line from Augusta to Aiken, 8. O.
Also furnishes
entire electric light and power service in Augusta and its suburbs and owns
valuable real estate in central part of Augusta.
Railway franchise in
Augusta expires 1939; electric-lignting franchise runs until 1939 or longer.
Interurban division Is on private right of way.
V. 92. p. 1177.
Also owns
the $500,000 com. stock of Georgia-Carolina Pow. Co., incorp. in So. Caro.
to construct the hydro-elec. plant on Savannah River, which was placed in
operation Feb. 6 1914 with an initial installation of 14.000 h. p., ultimate
capacity about 28,000 h. p.
Operation of this plant was taken over by the
Augusta-Aiken Ry. & El. Corp. on July 1 1914.
The company guarantees
prin. and int. and sink, fund on the Ga.-Carolina Pow. Co. 1st M.5s.
Early in the fall of 1916 disposed of its holdings in the North Augusta Hotel
Co. and North Augusta Land Co.
On June 23 1915 the stockholders authorized an increase In the 6% cum.
pref. stock from $1,500,000 to $2,250,000, the new stock being issued In
exchange for the $750,000 pref. stock of the Georgia-Carolina Invest. Co.
(a holding co. formerly controlling the Ga.-Caro. Power Co.), which has
been dissolved.
V. 100. p. 1830; V. 101, p. 283.
Fares.—On Mar.
1 1918 increased fares from Augusta to Aiken, S. O.,
approval of the S. C. RR. Commission,
subsequently reduced to 35 cents.
In Sept. 1918 applied to the Georgia
from 25 cents to 40 cents, with the
but
RR. Comm. for auth. to increase fares In Augusta from 5 cents to 10 cents
was granted authority to raise fares to only 6 cents.
1920, a 7-cent fare was auth. on the co's. lines.
The co.
10-cent fare.
V. 110, p. 2191.
Holders
of Co.'s
1st M. 5s To Forego Interest.-—In
but
Effective May 9
had asked for a
May
1919
the
proposed to holders of the 5% Sink. Fd. bonds, due 1935, in order to
necessary funds for construction, replacements and floating debt,
that they defer the interest on this issue for three years by funding their
coupons into a 5-year interest-bearing note at 5% and until such notes
mature on June 1 1924, to waive the operation of the sinking fund.
This
co.
secure
Slan was declared that until the 5% Coupon Gold notes have been paid off,
Provision is made in the
eposit agreement operative in August 1919.
no
dividends shall be declared by the company on
either class of stock.
V.
109, p. 1079.
STOCK AND BONDS—
Interest.
Date.
Common $2,250,000 ($100)
Pref 6% cum $2,250,000 ($100)
-
....
Outstanding.
$2,250,000
2,250,000
Maturity.
See text.
Q-M
2.891,000 Dec
1 1935
First
■
mtg
$7,500,000 .gold! J910 ,5_g J-D
11
($1.000)
c*&r*tf/Central Trust Co., New York, Trustee.
5-year coupon notes
1919
5%
441,150 June 1 1924
Augusta Ry <fc Elec 1st M gl 1900
5 g J-D
870,000 June 1 1940
$1,000,000 ($1,000) -c*ntf/Int. at Mar. Tr. & Dep. Ob., Bait., Trustee.
„
„
Ga-Caro Pow 1st M
$5,000,-1
)
1912
5 J-J
2.723,000 July 1 1952
c*tfj Central Trust Co.. New York, Trustee.
000 g ($500 and $1,000)
guar
—
bonds, $233,000 are in treasuryin amount reported outstand"
of sinking fund operations):
$870,000 are reserved to retire Aug. Ry. & Elec. bonds and balance is for
additions, &c.
Subj. to call as a whole (or in part for sink, fd.) at 105 and
int. on any int. day on 30 days' notice.
Interest is payable at Redmond
& Co., New York.
Sinking fund began In 1916, providing for payment of
$25,000 per ann.^lst 5 years. Increasing to $40,000, $50,000 and $65,000
for each successive period of 5 years until maturity of bonds.
V. 92, p.
1177.
Augusta Ry. & Elec. bonds can be called in 10, 20 or 30 years from
date at 105 and int. on 6 months' notice; sinking fund of ^ of 1% began
June 1 1905 for 15 years, 1% for next 10 years and 2%
or remaining 10
years. $130,000 (not incl. in amount outstanding) was held in sinking fund
Oct. 1 1920The Ga.-Caro. Pow. bonds are subject to call as a whole, or In part, for
sinking fund at 105 and int.
$94,000 have been retired by sink. fund.
Sinking fund began in 1918 and whl be sufficient to retire all the bonds at
maturity.
They are guar., p.,i. & s. f., by Augusta-Aiken Ry. & Elec.
Corp.
Y. 95, p. 179.
Dividends.—Initial dividend on preferred—1)4%—paid Dec. 30 1911
tame rate quarterly to and incl. June 1914.
None since.
Bonds.—Of the
$7,500,000
1st
mtge.
and $129,000 in sinking fund (not included
(see text above regarding suspension
Ing)
REPORT.—For years ending Dec. 31.
(1919 report In V. Ill, p. 686.)
Int.
Calendar
Year—
1919
1918.
x
After
Gross (All
Sources).
$1,104,890
1.023,831
deducting
Net after
$348,472
1368,286
$90,000
Int.
on
on
y$12,648
$212,636
190,262
reserved
Balance,
Surplus.
$111,326
1,799
10,555
Co.Sub.Co.Bds.
Other
&c.
Int..&c.
Bonds.
Taxes.
for
165,670
special
$11,861
depreciation, incl.
obsolescence.
In 1917 a similar reservation of $50,000 was appropriated
out of the surplus,
y This represents int. on the cos. 5-year 5% notes
which were issued in connection with the plan under which the holders of
the co.'s 1st M. bonds have
of 3 years—see above.
net,
taxes, $19,851; other income, $2,087; int., $13,750; divs., $8,250;
bal., def., $62.
ROAD.—Operates 14 miles between North Chelmsford, a suburb of
Lowell, and the village of Ayer, with a spur running from North Chelms¬
ford to Brookside; connects at North Chelmsford with Bay State St. Ry.
and at Ayer with Fitchburg & Leominster St. Ry.
Has 11 passenger
cars, 1 snow plow and 2 other cars.
OFFICERS.—Pres., W. W. Sargent; V.-P..O. F Baker; Sec. & Treaa..
R. N. Wallis, all of Fitchburg, Mass.
after
Control
agreed to forego the int. due thereon for a period
BALTIMORE,
MD.
railways of Baltimore pay a park tax of from! % to 9% of gross receipts
private rights of way, and
required to pave between tracks and two feet on each side.
Street
from lines within City Limits, except on turnpikes and
are
UNITED RAILWAYS & ELECTRIC CO. OF
ORGANIZATION.—Incorporated
at
BALTIMORE.—Trolley.
Annapolis March 4
1899; com¬
prises through consolidations the following passenger railways In Balti¬
more City and Baltimore, Anne Arundel and Howard counties, Maryland:
Baltimore
Catonsville
&
Elllcotts Central Railway Co.
Gwynn's Falls Railway of Baltimore
Mills Passenger RR.
Baltimore City Passenger Ry. Co.
City.
Maryland Traction.
Baltimore Consolidated Ry. Co.
Pimlico & Pikesville RR.
Baltimore & Curtis Bay Ry.
Shore Line Electric Ry.
Bait. Gardensville & Belair Elec. Ry.
Baltimore & Northern Elec Ry. Co. Walbrook Gwynn-Oak & Powhatan.
of the Baltimore Sparrows
Also owns all the stock, and holds a lease
Point & Chesapeake Ry. Co.
Allied Company.—In Aug. 1906
the Maryland Elec.Ry., which had agreed
provide funds for needed improvements and acquisitions of the United
Ry. & Elec. Co., was consolidated with the Bait. & Annapolis Short Line,
thus forming the Maryland Elec. Rys.
See statement of that co. below.
Power Contract.—In Feb. 1911 entered into a 15-year contract with Penn¬
to
sylvania
Power Co. for supplying power In conjunction with
Water <3c
united Railways Co. for operation of cars.
V. 92, p.
Favorable Tax Decision.—On June 29 1909 the Court
land held that the park tax of 9% on gross earnings
467.
of Appeals of Mary¬
of lines within city
intended to be in lieu of all other taxes, and that no further tax
levied without express legislative author¬
ity. The easements in 14 miles of turnpikes in annexed districts were held
to be taxable.
V. 89, p. 44.
■
limits
on
was
the intangible property can be
.
,
.
1913 Judge Bond in the City Court at Baltimore decided that the
must pay cost of repaving streets between tracks and 2 ft. on
either side.
See V. 96, p. 1090.
On Aug. 5 1913, the Court of Appeals of
Maryland reversed the ruling and unanimously held that company's obliIn April
company
'eb.
fation1916 the sameto the track area was to co. Is required to re-pave. keep
with respect court again held that repair and not merely to In
its tracks In
repair.
^
Maryland Court of Appeals, reversing the lower Court,
Roads Commission cannot recover from the electric
railway companies the cost of changing and re-locating tracks in building
the system of State highways.
V. 98. p. 1995.
Fares.—In Aug. 1918 the co. announced that, effective Oct. 1 1918.
fares in Baltimore and suburbs would be increased from 5 cents to 6 cents.
V. 107. p. 907, 1386.
Compare V. 107, p. 403.
In Jan. 1919 the 6-cent
fare was approved by the Maryland P. S. Comm.
Half-fares for children
were increased from 3 cents to 4 cents.
V. 108, p. 172.
On May 22 1919
the co. applied to the Md. P. S. Comm. for auth. to increase fares to 7 cents
cash or 4 tickets for 25 cents.
V. 108, p. 2242.
On June 5 1919 this
petition was denied by the P. S. Comm.
v. 108, p. 2434.
Effective Oct. 1
1919, however, fares were increased to 6)£ cents, 4 tickets being sold for
26 cents.
V. 109, p. 1274.
On Jan. 1 1920 the co. was auth. by the
Md. P. S. Comm. to increase fares to 7 cents.
V. 110, p. 79.
See also
V. 110, p. 360.
In June 1914 the
held that the State
Interest.
Outstanding. Div.or Mat.
4 Q-J 15
$20,461,200
See text
$14,000,000./ 1899
4 g J-D
14,000.000
,
1949
cum,
Maryland Tr Co,{Payable at option of co. after March 1 1949.
Trus
($1,000)
c*ntfllnt. at Alex. Brown & Sons, Baltimore.
1st con mtge, g, $38,000,0001
1899
4 g M-S
26,450,000 Mar 1 1949
($1,000); Continental Tr)lnterest at Alex. Brown & Sons, Baltimore.
Co, Baltimore, Trus__c*tfJ
Income fdg bonds ($100, $500/ 1906
5 g J-D
3,920,000 June 1 1930
& $1,000), $3,920,000.-ctflMaryland Trust Co., Trustee.
Gold notes, $2,750,000 ($1,-1
1916
5 F-A
1,222,000 Feb. 1 1921
000) red, all or part, at 101/Int. at Alex. Brown & Sons, Baltimore.
& int. on 30 days noticec*tf (Safe Deposit & Tr. Co.. Bait., Trustee.
STOCK AND BONDS—
Date.
Common, $35,000,000 ($50)
Inc
mtge.
g,
Oonv gold notes,
_
$5,750,000] 1917 5 & 6% F-A 4,528,000 Aug 151922
c*{lnt. at Alex. Brown & Sons. Baltimore.
8 g J-J
875,000
See text
Maryland Tr. Co., Bait., Trustee.
($100. $500. $1.000)
Car trust certifs. gold "Series) 1920
of 1920"
tfllnt. at
UNDERLYING SECURITIES.
Tract—1st
mtge;f 1889
5 M-N
1,500,000 Novf 119:29
($500,000) Trustee Mercani Interest
at
Merchants-Mechanics
First
tile Tr & Deposit Co.cntf I Nat. Bank, Baltimore.
N B Div 1st ($1,000) 5s. g;f 1892
5 g J-D
1.750.000 Jnne 1 1942
TrusMerTr&DepCo.cn tfllnt. atMerch.-Mech. First Nat. Bk. Bait.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Div.or Mat.
1892
5 g J-D
$3,000,000" June 1 1922
City & Suburban Ry Bonds—
1st mtge, g ($1,000)
tf Int. at Alex. Brown & Sons, Baltimore.
Safe Deposit <fc Trust Co., Bait., Trustee.
„
Baltimore
ELECTRIC
8
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Roland
Elevated—1st
1S92
5 g M-8
1.000.000 Sept 1 1943
consol
mortgage,
gold Interest at Alex. Brown A Sons. Baltimore
RAILWAYS
[Vol. Ill
bangor,
Lake
1*1.000)
—c*&r tf
Baltimore Trust Co., Trustee.
Central ity—Consol mortgage
1892
5 g M-N
700.000 May 1 1932
*700.000. gold ($1,000) ntf Int. at Merch.-Mech. First Nat. Bk., Bait.
Mercantile Tr. A Dep. Co. of Bait., Trustee.
Ext
and
Imp 1st mtge.
1897
6
$600,000, g (*1,000).ntfiBaltimore
_
_
M-S
Trust
g
Co.,
600.000 Mar 1 193©
Baltimore, Trustee.
Int. at Merch.-Mech.First Nat. Bk.. Bait
Stock.-—-There was originally an issue of $14,000,000 4% pref. stock
outstanding but In Sept. 1920 the last of this issue was converted into in¬
come bonds.
Authorized amount of common stock was increased from
*24,000,000 to $35,000,000 in Sept. 1917 to provide for conversion feature
of notes of 1917.
Common stock listed on Baltimore and Philadelphia
Stock Exchanges.
V. 96, p. 1631; V. 97, p. 667.
Bonds.—Of the *38,000.000 of 1st consol. bonds *29,450,000«bave been
issued (of which *3.000.009 are in treasury): *8,550,000 set aside to retire un¬
derlying securities.
Income funding bonds are red. on any int. date at
par and accrued int.
$41,820 are held by trustees.
All bonds are listed
on Bait. Stock Exchange and the 1st Consol. 4s
arjd $14,000,000 Income
4s are listed on the Phila. Stock Exchange.
$8,000 Central By. 1st cons.
5s are in U. Rys. & El. Co.'s treasury.
In Feb. 1916 issued $2,750,000 5% 5-yr. notes to retire the $500,000 Bait.
Catonsville A Elltcott's Mills 1st M. 5s due July 1 1916 and the $1,000,000
5% coll. tr. notes due June 1 1916, called for payment Mar. 13 1916, and to
provide for certain capital Impts. during the 5 years following.
No new.
mtge. can be created upon present property during life of notes without
.
giving notes e«HSkal security with bonds issued under such new mtge.
V.
102, p. 523, 610.
*1,528,000 had been exchanged for conv. 5% gold notes
1920Convertible Notes.—Convertible at the option of the holder into com. stock
at *30 per share within one year after Aug. 15
1919, at $33 during the next
year and at *36 thereafter until Feb. 15 1922.
$3,000,000 bearing 6% int.
were issued for new
equipment, extensions, Ac., stockholders being given
preferential subscription rights; remaining *2,750,000, bearing int. at 5%
for exchange, par for par, for the 5%
5-year gold notes due Feb. 1 1921.
See V. 105, p. 820, 910, 1523.
$1,528,000 had been so exchanged up to
Oct. 1 1920, Redeemable (subject to the
right of conversion) at par and
int. on 30 days' notice. Safe
Deposit A Trust Co., Baltimore, trustee.
Equipment Trust Certificates.—Are to be secured by 33 safety cars and
100 trailers.
Are due serially $47,000 July 1 1921 and $46,000 each 6 mos.
thereafter July 1 1921 to July 1 1930.
Red. as a whole on 30 days
notice at 100 and int. plus a premium of %
% for each year or fraction there¬
of to date of maturity.
V. Ill, p. 75.
DIVIDENDS.—Dividends of Hot 1 % were paid In June 1899 and 2H%
In Dec. 1899, and 2% each six months after that to and
including Dec. 1903
on both the income bonds and the
pref. stock, the payment on the stock
(but not on the bonds) being subject to a deduction of
J4 of 1 % for taxes.
None thereafter until June 1911, coupons being funded.
On June 1 1911
paid 2% on both income bonds and pref. stock and 2% has been paid each
six months since.
(The last of the pref. stock was converted into income
bonds in Sept. 1920).
On com. 1st div.—1H %—paid May 1912; Nov.,
1t2%'
In 1913 and to and inci. Jan. 1919 at the rate of 4% per annum.
April 1919 dividend postponed (V. 108, p. 1391).
None since.
ROAD.—Miles of track, 418; serviceable cars, 1,948; gauge, 5 ft. 4H in
Rails, 60-lb. T and 9-in. and 129-lb. girder.
Capacity or (3) generating
stations, 57,255 k. w. (an additional 20,000 k. w. unit is being installed)
capacity of (7) sub-stations, 50,875 k. w.
REPORT for the year ending Dec. 31 1919 in V. 110, p. 1749, 2382:
due Aug. 15 1922 as of Oct. 1
'
1919.
„
Car miles
run
1918.
191V.
1916.
35,5 12,354
32,569,906
33,705,804
31,397,513
243,8<50.966 226,834,528 212,893,619 199.158,285
86,75',575
81,879,968
83,430,701
81,771,297
Operating revenues
$14,794,234 $11,929,701 $10,560,837
$9,914,051
Operating expenses
9,192,238
6,839,822
5,267,395
4,567,950
Depreciation.
739,712
596,485
528,042
495,702
Taxes, licenses, &c__._.
1,409,261
1,160,452
1,079,723
994,840
—
—
Revenue passengers
Transfers...
Net oper. income....
Other income.
$3,453,023
40,117
$3,332,942
$3,685,676
83,061'
96,101
$3,855,559
92,000
Total net income
Int. on bonds, rents, &c.
Int. on income bds. (4%)
Preferred divs. (4%)--Common divs. (4%).—
$3,493,140
$ >,687,635
,559,080
$3,416,003
$2,524,271
559,080
$3,947,559
$2,280,355
559,080
$3,781,777
$2,347,117
559,080
920
920
920
920
204,612
818,448
818.448
818,448
Surplus
$40,893 def$486,716
$56,218
$288,756
Profit and loss surplus stood at $345,058 as of Dec. 31 1919, as
against $362,370 on Dec. 31 1918.
Latest Earnings.—Earnings for 5 months
ending May 31 1920 and 1919
will be found in V. Ill,
p. 295.
OFFICERS.—Chairman of the Board, Thomas A. Cross; Pres., C. D.
Emmons; V.-P., J. Pembroke Thorn; V.-P. & Gen. Mgr., H. B. Flowers;
William Early; Treas., J. T. Staub; Aud., N. E. Stubbs.—V. 109,
p.
172, 889, 1274; V. 110, p. 79, 360, 1643, 1749, 2382; V. Ill, p. 75, 295.
.
^r»/?fiU^?nlpT^Rarr9w% Point
ORGANIZATION.—In Jan. 1903
& Chesapeake Ry.
leased for 999 years to the Un.
Rys. & Electric Co. of Baltimore, which guarantees the bonds below, both
to principal and interest, and also owns all of the stock.
See V. 79, p.
2643.
Has 33.541 m. of single track, including a line 22 miles
long connecting
Baltimore with the Bethlehem Steel Works at Sparrows' Point, and extend¬
_
was
ing beyond along the shore of Chesapeake Bay, where summer resorts have
been established.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Stock, $2,000,000
$400,000
*2.000,000. gold f 1903
9 F-A
2.000.000 Feb 1 1953
($1,000) guaranteed, prin- Fidelity Trust Co.. Baltimore, Trustee.
interest
c*tf Interest at Alex. Brown A Sons, Baltimore.
REPORT.—Operations inc uded in United Rys. A Elec.
V. 80. p. 221.
Halethorpe & Elkridxe Ry.
RAILWAY
BANGOR
^ZrATION.—Incorp.
on
Dec. 26 1905
In Maryland.
share) of the Bar
Harbor A Union River Power Co.
Brewer,
Bangor, with
XI'ISM&yJMP ELECTRIC
RAILWAYS CO.
ORGANIZATION.—In 1906 the charter of the Maryland Elec. Ry. was
acquired by interests friendly to the United Rys. A Elec. for the purpose,
among others, of using that company to finance the needs of the United Rys.
ft Elec. Co. for additional
property, and charter amended by Legislature In
190* to adapt It to that purpose.
In Aug. 190* was consolidated with the
Baltimore It Annapolis Snort Line, which latter line has since been electri¬
fied.
The Maryland Electric Rys, then
acquired car-barn sites, terminals,
sc., ana is erecting buildings, constructing extensions,
purchasing equip-
Hampden,
Fares.—In Dec. 1918 was auth, to increase fares from 5 to 6 cents as an
V.
measure,
emeigency
STOCK AND BONDS—
Date.
Interest.
Stock, $1,200,00* ($50)
...
Outstanding.
Maturity.
$1,164,000 July '08,1%
First mtge, $8,000,000.
gold) 1906
5 g A-O
4,946,000 Oct 1 1931
($1,000), sinking funde'tf/Mercantile Tr. A Dep. Co., Bait., Trustee.
Baltimore
A
mortgage,
_
„
Annapolis first f 1966
5 g F-A
1,000,000 Aug
1
1946
$1,000,000...tf{Fidelity Trust Co., Baltimore,
Trustee.
(Interest at Alex. Brown A Sons, Baltimore.
.
Bonds.—-A sinking fund of 1H% on Maryland Elec. Ry. 1st mtge, bonds
out began Mar. 30 1910.
$957,000 (incl. In amount outstanding) held in
gen. date upon 90 days' notice. Int. payable at office" of and int. on any
it. sink, fund Oct. 1 1920. Bonds are redeemable at 110 Alex. Brown A
Sons.
See V. 83, p. 818, 970.
Dividends.—First dividend
paid July 1 1907.
(1H%)
was
paid in Jan. 1907 and 2% was
In 1908, Jan.. 1%; July, 1%:
none
since.
ROAD.—Operates 25-3 miles of track from Baltimore to Annapolis, which
has been converted to electricity.
The co. also owns a good deal of track¬
age which has been built for and leased to the United Rys. A Elec. Co.
OFFICERS.—Chairman of board, John Wilson Brown; Pres., J. N.
Shannahan; V.-P., T. O. Cherry; Sec. A Treas., Austin McLanahan; Gen.
Mgr., O. D. Porter; Aud. & Asst. Treas., G. S. Storrs.—V. 98, p. 1668,
1694. 1767; V. 105, p. 1419.
107, p. 2287.
In
Comm. auth. an increase in fares to 7 cents.
for an 8-cent fare.
V. Ill, p. 1471.
The
co.
Oct. 1920 the Maine P. U.
The company had applied
has been auth. to issue 36 promissory 6% notes, each for $1,466,
dated Apr. 23 1919, maturing in
trust mtge.
monthly installments and secured by
a car
V. 108, p. 2628.
STOCK AND BONDS—
Date.
Common, $2,000,000 ($100)-,
Interest.
Maturity.
Q-F
$2,000,000
See text
Pref $1,500.00* 7% cum($100)
7 Q-J
1,500,000 Oct '20,1 X
1st cons M, gold, $2,000,000.1 1905
5 g J-J
2,000,000 July 1 1935
($500. $1,000)
c*if/Guaranty Trust Co., New York. Trustee.
Convertible
notes
$250,0001
($1,000) gold
Outstanding.
1919
6 g A-O 1
250,000
Oct 1 1922
Interest at Merrill Tr Co., Bangor, trustee.
Pub Wks Co, 1st,gold,$600.-1 1899
5 g A-O
599,000 April 1 1929
000 ($500, $1,000)c*ntf/Int. at Old Colony Trust Co., Boston, Trus.
Bar HarAUnRPowColstAl 1907
5 M-S
673,000 Sept 1 1935
-
ref,$2.000.000($1.000)c*tf/Commercial Trust Co. Phila.. Trustee.
Bar Harbor Electric Light Col 1901
4H M-N
100.000 May 1 1921
IstM $100,000 ($500) c ntf /Int. at Portland Nat. Bank, Portland, Me.
Bangor Power Co, 1st mtge,' 1911
See text
1,361,000 Sept 1 1931
$2,500,000 ($1,000)—c*tf/Central Union Trust Co., N. Y., trustee.
>rono
Water Co. first mort
f
1905
4H J"3
60,000 July
1
1925
$60,000 gold, not (Int. at Portland (Me.) Nat. Bank.
Union
subject to call ($500)_cntf (
Safe Dep.& Tr. Co..Portland. Me. Trus.
Oar trust certifs., $52,776
1919
6%
See text
See text
gage,
Bonds.—The first oonsol. bonds
secured by deposit of
all the stocks
1st A ref. mtge. bonds of the Bar
are subject to call on 60 days'
notice at 107 H and interest on any interest date.
Interest at office of
trustee. New York, or Eastern Trust & Banking Co., Bangor.
See
(except 1 share of pref.)
Harbor & Union
are
and $56,000
River Power Co.
They
Particulars, bonds, property, Ac., V.p. 2456.1009. The Public Works Co.
onds
not subject to call; V. 80,
87, p. $1,000 retired. $1,018,000
are
Bar Harbor A Union River Power Co. bonds have been issued, of which
$56,000 are deposited under Bangor Ry. & Elec. 1st cons, mtge., $309,000
are pledged to secure the Bangor Ry. & Elec. 6% conv. note«r $16,000 are
held in special funds by that company and $606,000 in hands of the pub¬
lic.
Of the remainder, $100,000 are reserved to retire the Bar Harbor
Electric Light bonds and $862,000 for extensions, Ac., at 85% of cost of
Thev are guar., p. A i.. by Bangor Ry. & Elec. Co. and are aubiect to
call at 107H & int. on any int. date on 60 days' notice.
Int. at trustee or
Merrill Tr. Co., Bangor; also at J. & W. Seligman A Co., N.Y.
Trustee of
Bar Harbor Elec. Light Co. bonds is Union Safe Deposit & Trust Co.,
Portland, Me.
Of Bangor Pow. Co. 1st M
bonds. $750,000 Series A (all
out), bore int. at 4% to Sept. 11916; bear 4H % to Sept. 1 1921A 5% there¬
after to maturity.
Series B. $1,750,000 auth. (Int.. 5%), $611,000 issued
and outstanding, and $1,139,000 reserved for extensions, betterments, Ac.,
at 85% of cost of same.
Int. payable at office of trustee and at office in
Bangor.
Subj. to qdl at 105 A int. on any int. date on 60 days' notice
No s. f.
Both series assumed by Bangor Ry. & El. Co.
Notes.—The convertible notes are secured by $309,000 Bar Harbor &
Union Elver Power Co. 1st & ref. 5s.
Red. at 101 and int. on any int.
date on four weeks' notice.
.
Dividends.—5% per annum paid on the old stock (all of one class) from
Oct. 1 1905 to Oct. 1909, when 1 H% (quar.) was paid, which rate was con¬
tinued to Oct. 1910.
In 1911, 7%.
In 1911 stock was increased and new
Sref. stock was created, on which 1*4% hasdividend ofquar. was paid May 1
and incl. Oct. 1920.
On
initial been paid M % from Jan. 1912
common
o
1914 and
107,
p.
H% quar. to and incl. Aug. 1918; Nov. 1918 div. omitted (V.
48).
1848). None since.
REPORT.—For years ending June 30:
Gross " Net (after
Interest,
Earnings.
Taxes).
cfee.
1919-20
$1,173,303
$451,958
$259,470
1918-19—
980,653
345,295
243,822
June 30
Year—
Pref.Div.
(7%).
$105,000
105,000
Balance,
Sur.orDef.
sur.$87,488
def.
3,527
Rails, 48
ROAD.—Operates 66.11 miles of single-track equivalent.
to 90-lb. girder and T standard gauge.
5'5 pass, and 22 freight cars, 3 gravel
cars, 6 snow-plows, 1 sprinkler and 4 misc.
3 hydro-electric plants with
15,460 k.w.
OFFICERS.—Pres., E. C. Ryder; V.-P., Frank Silliman Jr.; V.-P. A
Howard Corning; Aud., C. A.
Clark A Co.—V. 106. p. 497,
1460; V. 107, p. 801, 1747 2287; V. 108, p. 2628; V. Ill, p. 1471.
Gen. Mgr., E. M. Graham; Clerk A Treas.,
Pearson. Jr.
Under management of E. W.
,
barre, vt.
MONTPELIER
&
BARRE
LIGHT
&
POWER
|
CO.
ORGANIZATION.—Incorp. In Mass. on Nov. 12 1912 and owns 91%
of the stock of the Barre A Montpelier Trac. & Power Co.
Also owns
all the stock of the Consolidated Lighting Co., Vermont Power A Ltg. Co.,
Molly's Falls Elec. Lt. & Pow, Co., and Waterbury Lt. A Pow. Co.; also
assets of Corry-Deavitt-Frost Elec. Co.
Supplies electric light, heat and
power In Barre and Montpelier and in practically all of Washington County,
Vt.
Franchises are perpetual.
Fare Increase.—The Barre &
Montpelier Trac. & Power Co. has obtained
new franchise agreement which allows the company to
fare within city limits.
Compare V. 99, p. 1528.
a
STOCK AND BONDS.
Common $1,009,000 ($100)
Pref $3,819,000 ($100) cum—
Date.
cha.ge
a
6-c.ent
Interest.
Outstanding.
Maturity.
$1,000,000
1,337.700 Oct.'20, 1H
1914
5 g A-O
589,300 Oct. 1 1944
Int. at Amer. Trust Co., Boston, Trustee.
1897
5 g M-N
100,000 Nov 1 1937
Int. at American Tr. Co., Boston, trustee.
-
.—
6%
refund mtge $2,500,000
($100 A $1,000)—CArHf
Trac 1st M g
$100,000 ($500 each), not
subject to call..
-tfc*
Consolidated Lighting Co....
5 J-J
700,000 Jan
1 1926
Vermont Power A Ltg Co....
5 M-S
400.900 Mar 1 1927
115,000 Mar 1 1930
Oorry-Dearltt-Frost El Co
6 M-8
Waterbury Light A Power Co.
82,000
5 M-N
See text
Stock.—$2,472,300 pref. stock Is reserved for conversion of 1st ref.
mortgage bonds.
Tax-free in Massachusetts.
Bonds.—'The above bonds of light and power companies are assumed
by the Montpelier A Barre Light A Power Co.
$250,000 of the 1st ref.
bonds became convertible at holders' option into pref. stock at par on Mar. 1
1916.
As of Oct. 1 1920, $27,700 had been so converted.
$361,000 addi¬
tional bonds will become convertible into pref. stock at par on Mar. 11921.
Red. as a whole at 105and int. on any int. date on 4 weeks' notice.
$1,137,000 bonds are reserved to retire underlying bonds and $752,000 for
additions
and
improvements
at
75%
of cost.
$263,000
Consol.
Ltg. Co. bonds and $124,000 Vermont Power A Ltg. Co. bonds are held in
sinking funds (incl. in amts. reported outstand.).
The Waterbury Lt. A
P. Co. bonds mature $6,000 yearly to Nov. 1 1921; then $7,000 yearly to
Nov. 1 1931.
$43,000 had been redeemed np to Oct. 1 1920.
TTie Barre
A Montpelier Trac. 1st M. 5s originally fell due Nov. 1 1917 but were ex¬
tended for 20 years.
Dividends.—A div. of $2 50 was paid on the pref. stock Apr. 1 1913,
covering the 5 months from date of organization on Nov. 12 1912 to April 12
1913; $1 50 paid July 15 1913 and $150 quar. since to and incl. Oct. 1920.
1st
leased at a sum sufficient to retire the bonds.
See Plan in fuil in V. 83, p. 156.
There Is no guaranty endorsed on bonds,
but the terms are such that rental will be more than sufficient to
pay inter®8b.
Stoelx listed on Baltimore Stock Exchange in Feb. 1908.
Old
,
Barre A Montp
to purchase the
property so
Owns and operates
Town, Charleston and
inter¬
mediate towns.
Also the entire electric lighting and power business of
Bangor, Old Town, Milford, Bradley, East Corinth, Orono, Brewer,
Hampden, Veazie, Kenduskeag, Eddingfcon and Orrington, with the excep¬
tion of the municipal lighting in Bangor, and turnisbes the water supply to
Veazie, Old Town, Stillwater, MiJford and Brewer.
In addition to the
above the company through its controlled companies, does the entire elec¬
tric lighting and power business in Ellsworth, Blue Hill, Bar Harbor, Seal
Harbor, Ac.
Also furnishes the water supply to Ellsworth and Orono.
Population served estimated at 70,000 including controlled companies).
Franchises.—Franchise for about 8 miles of track in Bangor expires in
1937; franchise covering operation of 2 miles of track in the city of Brewer
expires in 1940.
All others are perpetual.
Stock,
outstanding, $10,000. Has made a $300,000 mtg. (ntf) to Fidelity
Trust Co. of Baltimore, trustee.
20-year 5% bonds, prin. and int., payable
at Alexander Brown A Sons,
Bait.; not guar, by United Rys. A Elec. Co.
None out.
Owns 3.051 miles of road, which is
operated by United Rys. A
Elec. Co.—V. 87. p. 543.
'
the electric railway lines in Bangor and Brewer and the lines connecting
'
$100,000;
me.
ELECTRIC CO.
&
ORGANIZATION.—Incorp. Feb. 16 1905 In Maine and Is a consollda
tion of the Baagor Orono A Old Town Ry., Bangor Hampden A Winter
port Ry., Public Works Co., Old Town Electric Co., Brewer Water Co
and Penobscot Water A Power Co,
On Feb. 1 1907 purchased the Bangor
& Northern RR.
V. 82, p. 333.
Owns the entire capital stock of the
Bangor Power Co., the Orono Water Co. and (with the exception of one
....
....
oct., it20.]
ELECTRIC
EARNINGS.—For
ending Dec. 31:
years
Dec. 31 Yrs.— Gross Earns.
Jgf?
19*8"-
Tot. Net Inc.
$452,960
?
Bal. for Dir.
$117,596
$81,694
112,891
205,079
JTR?£F?X£;TPo''£er pIa;?ts have an
h
Int. A Rents.
$199,290
92,187
aggregate capacity of about 14,370
n.p., and 4,000 h.p. in addition is availaole
by contract; 9,179 h.p. is
water power; 2,680 h. p. additional was
being installed in Oct. 1920.
The
steam
plants, under normal conditions, are held largely as a reserve: 130
lines; undeveloped water power of about 3,000 h. p.
capacity.
The Barre A Montpelier Trac. Ac Power Co. owns 9.75 miles of
track between Barre and
Montpelier.
58-lb. T rail.
Gauge 4 ft. 8H in.
miles or transmission
ia^vFl»CE?ST»"~mh' of B<£„of,Directors, C.
H. Tenney: Pres
.
H. T. Sands,
Asst.
A* S* Temi®y» OIot;3c, PT. I>. Wood; Treas., E. A. Bradley;
Tenney.Aud., I. S. Hall.
Tenney & Co., Boston.—V. 104,
p.
Under management of Charles H.
2015; V. 105. p. 1999.
.
9
RAILWAYS
19 8-1290
Bonds.—The 1st consolidated bonds are subject to call on any int. day at
105.
The bds. of the old co. after 1910 have a sk. fd. of $10,000 per ann.
but bonds cannot be called.
See V. 71, p. 1268; V. 72, p. 282.
Ortheref.
bonds, $1,000,000 are reserved for prior Hens.
Dividends.—Pref. diva, at rate of 6% per annum are being paid.
EARNINGS.—For years ending June 30:
Oper.
Net (after
Other
Interest, Pf.Divs. Balance,
Year—
Revenues.
Taxes).
Income.Rents,Ac.
(6%).
Surplus.
131,330
$592
84,538
24,000
21385
—.$685,956
$171,973
14,980
$8^,234 $24,000 $77,719
•
June 30
ROAD.—Operates 10.36 miles of single track in St. Joseph and Benton
Harbor, with extensions of 25 miles through Eau Claire to Dowagiac and
II.33 miles to Watervliet; also operates 4.73 miles second track, 5.7 miles
sidings, Ac., and 3 miles or leased line, making total mileage operated, 60.12
miles.
60,70 and 73-lb. girder and T rails.
44 passenger ana 34 other cars.
OFFICERS.—'Pres., O. K. Miliary, Benton Harbor, Mich.: V.-P.. Hen-
baton
BATON ROUGE ELECTRIC CO.
•m,IPXl &c-—Organized In Louisiana; does
railway,
electric-lighting,
way
V
franchise expires
power and gas
1940; gas
entire electric
biddefordj me.
business in Baton Rouge.
Rail
electric-lighting and power, 1988.
1942.
88. p. 881
.
J;?.,. ?; i W,*?£comp*ny brought out $300,000
$147,000
conv. 7% 3-year notes to
6% coupon notes due at that time, and floating debt; and
provide for construction requirements.
V. 110, p. 76.
STOCK AND BONDS.
Date
Interest.
Outstanding.
Maturity
Common, $800,000 ($100)
$300,000 June'20 495
Pref, $250,000 ($180) 6%
J-D
200.000 June'20,'3%
ist mortgage, $750 OOO.
gold} 1909
5 F-A
487,000 Feb
1 1939
($500 and $L00O).
c* tf (Int. at Old Colony Trust Co.
Boston,truster
BIDDEFORD & SACO RR.—A trolley road.
ORGANIZATION.—Incorporated Feb. 19 1887.
STOCK
AND BONDS
Date.
Interest.
Outstanding.
Maturity.
A-O
$100,000 Oct*20.5%
$300,000 ($1,000)7 1900 4 g J-D
150,000 June 1 1940
gold c*, No s f but can be]Interest at Fidelity Trust Co., Portland,
called In 1920
tf (
Me., trustee.
retire
also
to
Stock ($50) $100.000
1st
——
«nrLnot? J!52Ra900 ^100'1 1920
$500 and
$300,000
7 g J-J 1
300,000 Jan 1 1923
c*/Int. at Old Colony Trust Co., Boston, trustee
pref. is cumulative from June 1912.
Redeemable at 110.
stock is reserved to exchange the conv.
7% notes due Jan. 1
com.
105 and int.
1918,
int. day.
Sinking fund of 1 % per annum of bonds out
$38,000 canceled.
The 3-year notes are convertible
at optioii of the holder before
maturity into com. stock of the company on
a $ for $ basis.
Are callable as a whole upon 30 days' notice at 102 and Int.
during
on
any
began Feb. 1 1914.
Dividends.-^-On
pref. 3%
s. a.
from Dec. 1911 to and incl. June 1920.
EARNINGS.—For
Year—
12 months ending June 30:
pross.
1919-20
Net, aft. Taxes.
$426,302
314,115
1918-19
$166,599
126,711
Int., Ac. Sink. Fund.
$42,668
42,107
ROAD.—Operates 6.23 miles of track in form
Baton Rouge;
9 cars;
In 1917, 8%.
standard gauge.
of
Surplus.
•
„
a
$123,931
84,604
single belt through
Power station capacity, 1,500 k.w.
OFFICERS.—Pres.,Hairy H. Hunt; V.-Ps., Edw. Godchaux, Samuel
Weis; Sec., Victor D. Vickery; Treas., Henry B. Sawyer; Gen. Mgrs., Stone
& Webster
Mgt. Assn.; Mgr. Thos. L. Small.—V. 101, p. 1806; V. 104,
1488; V. 110, p. 76.
•
p.
EASTERN TEXAS ELECTRIC CO.
as a
consolidation of
County Traction Co., Beaumont Elec. Light A Power Co.,
Port Arthur Light A Power Co. and Beaumont Traction Co., all of whose
stocks had been owned by the Eastern Texas Electric Co. (of
Me.), a hold¬
ing company. V. 107, p. 695. Does the entire electric light and power busi¬
ness in Beaumont and Port Arthur, the entire electric
railway business in
Beamont and operates an interurban electric railway between Beaumont
and Port Arthur, a distance of 20 miles.
Light and power franchises in
Beaumont expire in 1963; in Port Arthur in 1943; railway
franchise in
Beaumont expires in 1961; interurban railway almost
entirely on private
right of way.
\
In May 1920 issued $1,500,000 5-yr. conv. 7% notes to retire
$750,000
7% notes due Aug.l 1921, to discharge floating debt and to furnish capital
for impts., &c. V~ 110, p. 1972.
STOCKS AND BONDS.— Date.
Interest.
Outstanding.
Maturity.
Common, $1,400,000 ($100)
$1,400,000 Oct'20, 2%
Pref cum $1,450,000 ($100)
6 J-J
1,400,000 JIy'20, 3
1st mortgage gold ($500 and/1912
1,463,000 Nov 1 195 g M-N
$1,000)
c*Ar*tf_\Int. at State St. Tr. Co., Boston, trustee.
Convnotes, $2,000,000 ($100,\ 1920
7 g M-N
1,500,000 May 1 1925
$500 & $1,000) —.—c*tf/
Guaranty Trust Co., N. Y., Trustee.
Beaumont Traction 1st Mtgef 1903
5 g A-0
200,000 April 1 1943
$600,000 (call at 105)--.tf tint, at Interstate Tr. & Bank. Co., Trustee.
_
Stock.—Pref. stock is callable at 110.
$50,000 held in trust for benefit
(in addition to amount shown above).
Bonds.—Authorized amount of bonds not limited.
Additional bonds may
be issued for 75% of cost of acquisitions, impts., add'ns, Ac., under certain
restrictions.
Callable as a whole (or in part for sk. fd.) at 105 and int.
Coupon bonds In denomination of $1,000 and $500 and registered bonds bf
of company
V. 95,
p.
1745.
$32,500 in sinking fund canceled
and $200,000 are reserved to retire the Beaumont Trac. 1st M. 5s.
Sinking
fund of 1% of bonds out, payable Nov. 1.$400,000 Beau.Trac. IstM.bonds
are held by Eastern Texas Elec. Co.
Red., all or in part, at 105 and int.
Notes.—Are conv., par for par, at any time on or before maturity into
a cash payment by the noteholder of $4 per share
on the notes and of div. on the stock at the rate
last declared within the 6 mos. next preceding.
If called, conversion may
fully paid com. stock with
and an adjustment of int.
be made up to and
incl. redemption date, the noteholder to receive any
premium payable on account of recemption.
$346,200 are held in treasury.
Are red., all or in part, any time upon 45 days' notice as follows with int.;
before May 1 1921 at 103; May 1 1921 to April 30 1923 at 102; May 1 1923
to April 30 1924 at 101 and thereafter to maturity at 100.
V. 110, p. 1972
Dividends.—6% is being paid on pref. stock.
Initial div.—2%—on old
Maine corp. was paid in July 1916.
In 1917 and 1918, 5%; in 1919, 5%; in
1920, Jan., 4%; April, 2%; July, 2%; Oct., 2%.
EARNINGS.—For 12 months ending June 30:
Year—
Gross.
Net(aft.Tax.) Oth.Inc. Interest.
1919-20. ..$1,498,941
1918-19.- 1,244,435
$578,958
477,487
$7,500
8,275
Surplus.
$2,564
10,000
835
ROAD.—Operates 8 miles of track between Saco. Blddeford and Old
was
The 20-mile electric
formally opened
on
—.
—
Surplus.
$419,075
329,590
railway between Beaumont and Port Arthur
Dec. 15 1913.
V. 97, p. 1822.
OFFICERS.—Pres., Marshall M. Phinney; Sec., Geo. A. Peirce; Treas.,
B. Sawyer; Gen. Mgrs., Stone & Webster Mgt. Assn.; Mgr., A. F.
Townsend.—V. 107, p. 695, 905, 1192, 2476; V. 109, p. 1079,2262.
H.
benton
BENTON
harbor, mich.
HARBOR-ST. JOE RAILWAY & LIGHT CO.
ORGANIZATION.—Incorporated in Michigan in Jan. 1906 and is
solidation of the Benton
Harbor A St. Joseph Electric By. A
a con¬
Light Co
and the St. Joseph River Traction Co.
*
Fares.—In Sept.
1919
was
auth. by the Mich. RR. Comm. to Increase
fares on the Interurban lines to 2H cents per mile.
V. 109, p. 1079.
The $114,000 B. H. St. J. Elec. By. & Lt. 1st Mtge. 5s due Sept. 1 1920
were paid off at maturity, the
co. found it necessary however to borrow
$50,000 to meet this maturity.
STOCK AND BONDS.
Interest.
Date.
Outstanding.
Maturity
(J 100)
$800,000
6 F-A
Preferred, $400,000 ($100)—
400,000
See text
Refund mtge »2,500,000 gold
1909
5 g M-N
499.500 Nov 1 1939
($500 and $1,000)
c Interest at Columbia Tr. Co., Louisv.,trust.
1st cons M, $1,000,000, gold
1906
5 g M-N
825,900 Nov 1 1935
($500 and $1.000)
c Int. at Columbia Tr. Co., Louisv., trustee.
B H AS J El Ry & L IstM,
1900
5 g M-S
114.000 Sept 1 1920
$200,000, gold ($1,000)— Int. at Con. A Com. Tr. A Sav. Bk., Chi., tr.
Common
—$100,598
Orchard
Dividends.
$10,000
Int., Ac.
$18,564
20,655
86,815
-
$6,000
9.820
Beach.
OFFICERS.—President. O. H. Prescott, Blddeford;
Treasurer. E. F. Lord.—V. 70, p. 1048; V. 73, p. 494.
and
Secretary
binghamton, n. y.
SCRANTON
&
BINGHAMTON
Receivership—Default.—In June
C.
RY.
1918
V.-P.
W.
R.
Day and director
R.
Bedford of the Binghamton Ry. were appointed receivers of the
Scranton & Binghamton Ry. upon application of Binghamton Ry.t due to
the S. & B. Ry.'s inability to meet the interest due June 1 1918 on the
$2,900,000 6% bonds due In 1960. V. 106, p. 2451.
Committee for S. A B. 6s.—Chairman, G. Tracy Rogers; F. W. Wollerton, William L. Foster, W. L. Connell, F. L. Fuller and G. R. Bedford.
Wilkes-Barre, attorney. V. 107, p. 182.
Reorganization.—We understand that the Scranton & Binghamton RR.
has been reorganized as the Scranton Montrose & Binghamton RR., and has
filed with the Penn. RR. authorities certificates which show;
(а) Common Capital Stock: Total auth. issue,. $3,000,000, all of which the
co. purposes to issue and sell.
Purpose of issue: (1) $600,000 to be used
toward
acquiring the capital stock of the Northern Electric Railway Co.:
(2) $2,400,000 to be issued for allotment to such holders of the bonds of
the Scranton A Binghamton RR. Co., as deposited same with the bondholders
committee and complied with the terms of participation.
.,
(б) First Mortgage Sinking Fund 6% Gold Bonds and Income Bonds:
Both
dated Oct. 1 19l9 and both due Oct. 1 1949.
Interest payable April 1 and
Oct.
1 of each year.
Payment of principal and interest of the bonds is se¬
cured by first lien on the
property and the pledge of certain securities. The
bonds may be redeemed at 105.
Miners' Bank of Wilkes-Barre, trustee.
Total auth. issue, $10,000,000 1st M. bonds and $400,000 income bonds,
none of which has heretofore been issued.
The co. purposes to issue and
sell $5,500,000 1st M. bonds and $400,000 income bonds.
Purpose of issue: (a) $500,000 of 1st M. bonds represent the purchase
price of the property of the Scranton & Binghamton RR.; (&) $5,000,000
1st M. bonds and $400,000 income bonds are also to be Issued in connection
with the reorganization, but for just what purposes we do not know, as
complete data have been unobtainable. See V. 110, p. 2388.
ORGANIZATION.—Incorp. In Delaware Oct. 15 1910.
Owns entire
Binghamton RR. and has assumed Its bonds.
The Scranton A Binghamton RR. owns 99% of the stock of the Bingham¬
ton Ry., the entire stock of Scranton A Binghamton Traction Co., a con¬
trolling interest In the Northern Electric Ry. and over one-half of the bonds
of the Northern Electric Street Ry. (whose stock is owned by the Northern
Electric Ry.).
The Northern Electric Street Ry. is leased for 900 years
from July 1 1910 to the Scranton A Binghamton Traction Oo., which has
stock of the Scranton &
assumed the former's bonded debt.
„
_
■
„
,
Fares.—In Sept. 1918 filed with the Penna. P. S. Comm. a new tariff
increasing fares in zones in and out of Scranton, the minimum charge in
Scranton being advanced from 6 to 8 cents. V. 107, p. 1102.
STOCK AND BONDS—
Date.
Interest.
Ou standing.
$6,000,000
Stock $6,000,000
Maturity.
—
1910
6 J-D
2.900,000 June 1 1960
g($l,000. $500 A $100)— c»/Int. at Anthracite S. Bk., Wilkes-Barre, trus.
Northern Elec St Ry $1,200,-1 1907
5 J-D
1,200.000 June 1 1957
000 ($500 and $1,000)—c#f Int. at Anthracite S. Bk.. Wilkes-Barre,trus.
Bonds.—Scranton & Binghamton RR. bonds are callable since June 1
1915 at 105 and Int.
Northern Elec. St. Ry. bonds are red. at 105 and Int.
Sinking fund of $10,000 per annum began Dec. 1 1912-
Scran. A BlngRR $10,000,0001
EARNINGS.—Of the combined properties for 12 mos. ending June 30
1917, gross, $1,009,614; net, $374,717.
In 1916, gross. $886,742; net,
$348,ll6.
ROAD.—46 miles In operation between Scranton and Montrose, with a
branch to Lake Wlnola.
The road as projected will extend to Bingham¬
ton, N. Y.—V. 100, p. 1833; V. 106, p. 2451; V. 107, p. 182, 1102; V. 110,
p. 2388.
(1)
Binghamton
Railway Co.—A trolley road.
The Scranton A Binghamton RR. owns 99% of the stock [but see Scranton
A Binghamton Ry. above under "Reorganization"].
Receiver Appointed.—On Oct. 8 1918 Judge Geo. W. Ray in the U. S.
Dist. Court in
Sink.Fund.
$167,383
156,172
PROPERTY AND PLANTS.—Combined capacity of power stations
at Beaumont and Port Arthur, 9,300 k.w. (a new unit of 4,000 k.w. Is now
being installed) ;power is also supplied to Port Arthur Traction Co. Capacity
of ice plant at Port Arthur, 75 tons per day.
Miles of equivalent single
track, 30.8; trackage, 1.92, standard guage; 45 pass., 4 trailers and 3 other
cars.
10%.
Net.
„
ORGANIZATION.—Incorp. in Texas in July 1918
the Jefferson
$5,000 and multiples.
In 1920,
Gross.
1919
1918
__
beaumont, tex.
In 1919, 10%.
Year—
1920,^at 101 and int. during 1921,and at 100 and int. during 1922.
Initial div. of 2% on com. paid Dec. 1915.
In 1916, 7%.
In 1918, 8%.
in 1919, 8%.
In 1920, June, 4%.
10%.
EARNINGS.—For calendar years:
on
Bonds.—$225,000 bonds, not incl. in amount outstanding, are in treasury
of company and may be issued at not to exceed
8% of cost of additions and
Improvements.
May be called, in whole (or in part for sinking fund) at
-
mort
Dividends.—During years end. June 30: 1906, 4%; 1907-09, 5%; 1910,
7H% (changed tos.-a.); 1911 and 1912,5%; 1913and 1914,6%; 1915,8%:
1916; 10% and special div. of 20% on Aug. 1 1916.
In 1917, 10%.
In
$1^000)
Oiv\
Louisville.—V. 109,
ning()Chambers, LouisviUe' Ky" Sec"
rouge, la.
Albany appointed William G. Phelps receiver
for the co.
'Receiver's Certificates.—In Oct. 1919 the receiver was auth. by the N. Y.
P. S. Comm. to issue $9,000 receiver's certlfs. to meet the cost of extending
the Port Dickinson line to Hires' condensed milk factory.
V. 109, p. 1700.
To Lift Receivership.—In May 1920 it was reported that an order had been
obtained from U. S. Judge Geo. W. Ray approving a proposed agreement
by which the receivership would be relinquished within 6 mos. and the prop¬
erty returned to the owners. V. 110, p. 2191.
On April 17 1920 the pro¬
tective committee named below announced the partial consummation of a
formal contract made by the committee with the stockholders and the re¬
ceiver of the co. under authorization of the U. S. Court.
The contract
provides in part: (1) That within ten days the stockholders and the receiver
of underlying bonds matured and outstand¬
ing. (2) That the Nov. 1918, May 1919 and Nov. 1919 past due interest on
the cons, bonds, together with interest on the deferred payments,shall be
made immediately,
[Under date of Oct. 16 1920, we were officially in¬
formed that all int on this issue had been paid up to date and that in al
probability the Nov. 1920 int. would be paid when due.—Ed.]
(3) That
within 6 months the stockholders shall liquidate all outstanding receiver s
certificates.
Receiver's fees and expenses provide for all floating debt
and pay a substantial part of the expenses of the bondholders' committee.
(4 That a supplemental consolidated mtge. shall be executed requiring the
co. to set up a proper maintenance and renewal fund.
V. 110, p. 2386; V.
III, p. 1660.
We have been unable to obtain later information.
Committee for First Cons. 5s.—Chairman, Thos. B. Lockwoocb Frank; B
Newell, Harry T. Ramsdell, John T. Steele; Sec., Perry E. Wuret, 291
Elm St., Buffalo.
Depositary, Fidelity Trust Co., Buffalo, and Peoples
Trust Co., Binghamton. V. 110, p. 2386.
shall pay ana discharge $20,000
ORGANIZATION.—Is a consolidation Sept. 30 1901 of the Binghamton
RR. Co. (chartered Aug. 11 1892 as a consolidation of aU street railways in
city) and the Blng. Lestershlre A Union RR.
Principal franchises granted
by special Acts of Legislature, and are perpetual and practl^lly^cluslve.
Fare Increase.—InMarch 1920 was autn. by the BinghamtonCommon
Council to Increase fares to 6 cents, this rate to continue in effect until
Jan. 15 1923.
V. 110, p. 1288, 2386.
ELECTRIC
10
RAILWAYS
.
'
•
,
8T0CK AND BONDS—
Date,
Interest.
Outstanding.
Maturity.
Stock, $1,160,000 ($100)
4F-A
$978,995
See text
Binghamton
BR Co
mtgef 1893
6 g J-J
482,000
See text
g (J
$900,000. g,($1,000)—c*tf\Int. at Metrqpol. Tr. Co., N. Y., Trustee.
B!hg Lest A Un 1st M 1250,lgQ5
5gJzD
147.000 June 1 1925
000
gold,
principal and Interest at Metropolitan Trust, New York
Interest roar...—
tf
Binghamton Trust Co., Trustee.
Blng By 1st consol mtge, $2,1901
5 g M-N
1,745.000 Nov 1 1931
600.000 gold ($1,000) c*tf Int. at Fidelity Trust Co.. Buffalo, Trustee,
or Seaboard National Bank. New York.
_
.
.
_
Equip trust certlf ($90,000)..
.
,
Receiver's certificates $75,000.
1915
44,000
6 F-A
See text
6%
30.000
Bonds.—The bonds of 1893 mature $5,000 yearly 1910 to 1917; $10,000
yearly from Sept. 1 1918 to 1922 and balance Sept. 1 1923.
Of the Bing¬
hamton By. 1st consol. mtge., enough are reserved to retire underlying
bonds and the remainder for acquisitions, extern., Ac., under careful
restrictions.
They are subject to call at 110 and int.
Exempt from N. Y.
State, county and municipal personal property taxes.
See v. 73. p. 1312;
V. 78, p. 701;
V., 88, p. 748. The equipment trust certificates of 1915
semi-annually.
They are secured by 20 double-truck cars,
costing $118,503.
Dividends.—2% waa paid Jan. 31 1902; 2% Mar. 3 1903; 2% April 11
1904 and 2% April 10 1905.
A scrip dividend of 20% was paid April 18
1905.
In 1906 to 1910 incl., 2)4% yearly.
In 1911, Sept., 3%.
In 1912
and 1913, 4%.
In 1914, Feb ,2%.
None since.
BOAD,—Operates 49.25 miles of track.
Connects
Binghamton with
Johnson City, Hooper, Kndicott, Union and Port Dickinson.
Standard
gauge, 60-Ib. to 103-ib. T and girder raU; 75 motor cars and 27 trail cars.
EARNINGS.—For year ending Dec. 31:
Year—
Gross.
Net.
Int. & Taxes.
Surplus.
1918def$60,715
$648,243
$125,324
$186,039
1917
242,925
160,953
81,972
705,030
1916
102,536
651.527
244.872
142,337
OFFICERS.—Pres.. F. L. Fuller; V.-P., B. W. Day; See.. W. H.
Hecox; Treas., E. M. White.
Office, Binghamton, N. Y. -V. 109, p. 1079,
1700, 1985; V. 110, p. 1288, 2191, 2386 2567; V. Ill, p 1660.
•. '
'
[VOL. 111.
J
•
>
BLUFFTON,
IND.
MARION Sc. BLUFFTON TRACTION CO.—A trolley road.
ORGANIZATION.—Incorp. In Indiana June 1914 as a reorganization
of the old Marion Bluffton A Eastern Trac. Co., sold under foreclosure In
Feb. 1914.
The old company was placed In receivership as a result of
a head-on collision on July 7 1912 in which four persons were killed and 60
or more Injured (Y. 95, p. 297).
Fares.—In May 1918 was auth. by the Indiana P. S. Comm. to increase
fares from 2 to
2 cts. per
1918
mature $5,000
"
2)4 cents per mile, mileage books to be sold on a basis of
mile and commutation books at 1.56 cents a mile. V. 106, p. 2345.
STOCK AND BONDS—
—
Sink, fd.1% per annum,
Interest.
Date.
Stock $216,000 ($100)
1st M gold $504,000 ($1,000)/
Outstanding.
$216,000
—
-
Maturity,
-
1914
5 g J-J
504.000 July 1 1934
tint, at Fletcher Sav.A Tr.Co., Indianap.,Tr.
EARNINGS.—For year ending June 30 1920, gross, $159,585; net, after
taxes, $36,441; other income, $1,290; bond interest, $25,200; bal., surplus,
$12,531.
ROAD.—Operates 32 miles of track between Marlon, where connection
is made with union Trac. Co. of Indiana lines and Ind. Rys. A Light Co.,
and Bluffton, Ind., connecting there with Fort Wayne A Northern Indiana
Trac. and Union Trac. Co. of Indiana.
Standard gauge.
70-lb. T rail.
OFFICERS.—Pres., James W. Sale; V.-P., Abram Simmon: Sec. A Gen.
Mgr., James S. Clark; Treas., J. S. Gilliland.—V. 106, p. 2345.
BLUFFTON
GENEVA
&
CELINA TRACTION
consisting of 19 miles of track on private right of way
and Geneva through Vera Cruz and Linn Grove, was
sale on Oct. 13 1917 to Thos. Flinn for $118,000.
At
dismantling of the line was under way.
CO.—This
road,
between Bluffton
sold at receiver's
last accounts the
—
'
.
BOISE
CITY, IDAHO,
BOISE VALLEY TRACTION CO.
Controlled through stock ownership by the Idaho Power Co. (V. 104, p?
1148), all of whose common stock except directors' shares is In turn owned by
the National Securities Corp. (V. 100, p. 1673. 2010).
the Boise
BIRMINGHAM RY. LIGHT & POWER.
Controlled by the American Cities Co. (see under "New Orleans"), which
89.62% of the common and 79.35% of the preferred stock.
Receiver.—On Jan. 23 1919 Judge Grubb of the Federal Court appointed
owns
Lee
,
C.
Bradlfcy receiver for this company and the Birmingham Tidewater Co. upon petition of the American Cities Co.
V. 108, p. 377.
Committee for 6% Notes.—Chairman, Thos. J. Walsh; Morris K. Parker,
E. W. Rollins, Harris Stetson, Geo. Taylor; Sec.,Miss D. Earl, 43 Exchange
Place, N. Y, City.
Depositary, Equitable Trust Co., N. Y.
Deposits
have been called for,
V. 108, p. 1059.
ORGANIZATION.—Consolidation on June 13 1901 of the Birmingham
Gas Co., the Consolidated Electric Light Co. and the Birmingham By.,
Light & Power Co.
Owns and operates the entire street railway, gas,
electrlc-llght and power and steam heat business of Birmingham and all the
principal near-by cities and towns, including Brighton, Bessemer, Boyles,
Fairfield., Tarrant City, Inglenook, Edgewocd and Irondale; an interurban
line, about 12 miles of which is in operation, from East Lake to Ensley
and Pratt City* does the city lighting in Birmingham, Bessemer, Fair¬
field and Brighton.
Franchises covering gas, electric light and power
business and street railway lines are, with some unimportant exceptions,
stated to be perpetual.
Has a contract with the Alabama Power Oo. by
which the latter furnishes electricity for operating the railways and also for
light and power service In Birmingham,
under this contract the company's
steam station is held as a reserve plant.
V. 98. p. 1691.
In April 1917 acquired the stock of the Birmingham-Tidewater Ry. In
consideration of the guaranty of that company's bond Issue, principal and
Interest.
Y. 104. p. 1590.
Fares.—In July 1918 the voters of Birmingham defeated a provision
authorizing the co. to charge a 6-cent fare. V. 107, p. 905.
On Aug. 23
1919, however, the City Commission auth. the co. to increase fares to 6 cts.,
effective Sept. 4 1919.
This increase is temporary and may be modified
by the City Commission at any time.
V. 109, p. 981.
Wage Contract for Two Years from Sept. 1 1919.
See V. 109, p. 1179.
Note Extension.—In May 1920 the noteholders' committee named above
announced that arrangements had been made for the extension of the 6%
notes due April 1 1919 to April 1 1921 at 7%.
Bank interest, together with
interest on the overdue coupons up to May 10 1920 at the rate of 6% was
paid.
V. 110, p. 2191, 2657.
STOCK AND BONDS—
Date.
Common ($100). $3,900,000—
Pref
($100)? $3?56p,000 6% cum
,uw,uw oye cux
....
Outstanding.
Maturity•
See text.
3,600,000 Dec 17, 3%
5 g J-J
837,000 July 2 1924
Central Trust Co.. N. Y.
Birming¬
Interest.
J-D
$3,900,000
J-D
Birmingham Ry A El 1st M g
1894
$1,250,000 ($1,000)—c* Int. at
Not subject to call.
ham Tr. A Sav. Co., Birmingham. Trus.
Gen
M, ref,
1904
$10,000,000.
4^gA-0
8.720.000 April 1 1954
gold ($1.000).
c* Int. at Canal-Commercial Tr. A Sav. Bk.,
New Orl., Trus., or at N.Y. Tr. Co., N.Y.
Ref &
exten
M
$25,000,000/ 1907
6 g M-N
4,688,000 May 1 1957
($1,000) gold sink. fund.c*iInterest at Old Colony Trust Co.. Boston,
1
Trustee, and N. Y. agency of company.
Notes $2,000,000 ($1,000)-c* 1917
7A-0
1,200,000 Apr 1 1921
Bonds.—Of the new $25,000,000 bonds, $9,680,000 are reserved for prior
liens, $1,200,000 for the cost of new power house If first lien on same, and
$9,486,000 for 80% of the cost of additions if the net earnings are 1X
times the Int. on all bonds outstanding, Incl. those to be Issued, and provided
10% of gross earnings have been expended for maintenance within previous
12 months.
The directors may make the rate of Int. on succeeding Install¬
ments not to exceed 6%.
Sinking fund of H of 1% of bonds out began
Sept. 1 1918.
On Oct. 1 1920 $60,000 was held by trustees for sinking
fund.
Bonds purchased to be held alive and interest thereon reinvested.
For details of bonds, property, Ac., see V. 87,
p. 1603.
Of the gen. M. of
1904, no more bonds can be issued.
Sinking fund of )4 of 1% of bonds out
begins Aug. 1 1924.
The bonds are sub. to call at 105 A int. on any int.
day on 60 days' notice.
For 1st 5s of 1894 $12,500 per ann, is pay. Into
a sinking fund; $425,000 have been canceled.
The notes originally matured
April 1 1919 and bore 6% int., but have been extended for two years at 7%.
Ivoi subject to call.
V. 110, p. 2191, 2657.
Dividends.—First div. on pref. stock, of 3%,paid in Jan. 1902. and
thereafter to and incl. Dec. 1914; In June 1915, none; Dec., 3%.
3%
■.-a.
In
June 1916, 3% and 1% on accfc. of arrears; Dec., 3%; June 1917, 3% and
1 % on account of arrears; Dec..
3%; none since.
On com. stock in 1903,
%.%> IVS04' 4%; in 1905, 4%; in 1906,
5%; in 1907 and 1908, none; 1909.
2%; 1910, 5%; 1911, 7%; 1912, 8%; 1913 and 1914, 6%; none since.
REPORT.—
Gross
Net after
Interest and
Surp.,for
Year—
Earns.
Taxes.
Olh. deductions, reneio.,&c.
1919—-$4,577,356
$1,179,544
$1,304,286
def.$124,742
1918---3,742.865
1.094,445
862,567
231,877
ROAD.—Operates over 154.12 miles of single track in cities of Birming¬
ham, Bessemer and in Jefferson County.
Standard gauge.
All but 6 miles
70 to 100-lb. T and girder rails.
Owns 296 passenger, 47 freight and 31
miscellaneous
cars.
Total, 374.
OFFICERS.—Pres. A Gen. Mgr., J. S. Pevear, Birmingham; Sec. A
Treas., J. P. Ross; Asst. Sec. A Asst. Treas., N. H. Hawkins.—V. 104,
p. 1488, 1590, 1700; V. 106, p. 818, 2559; V. 107, p. 500, 905; V. 108,
p. 377, 1059; V. 109, p. 1179; vTllO, p. 1414, 2191, 2657.
Birmingham-Tidewater Railway Co.
Receiver Appointed.—See Birmingham Ry., Lt. A Power Co. above.
ORGANIZATION.—A reorganization in 1917 of the Birmingham Ensley
A Bessemer RR. as per plan No. 1 in V. 101, p. 1013.
The company's
$325,000 stock was transferred to the Birmingham Ry., Lt. A Power Co. In
consideration of the latter's guaranty of the payment of prin. and int. of
this company s bonds.
Committee for Is* Mtge. 5s.—Charles H. Zehnder, J. D. IQrkpatrick,
Howard R. Taylor, and Sec., Joseph Diehl Fackenthal, 165 B'way, N. Y
Depositaries: Empire Trust Co., N. Y.. Old Colony Trust Co.. Boston, and
the Fidelity Trust Co.. Baltimore.
Deposits have been called for.
Fare Increase.—See Birmingham Ry., Lt.-A Power Co. above.
BONDS—
Date.
Interest.
Outstanding.
Maturity.
First mtge $4,000,000 goldl 1916
5g J-J
$1,500,000
Jan 1 1946
($500 and $1,000)—
,.c»/Int. at Empire Trust Co., N. Y., trustee.
The bonds are red. on any Int. date at 101 and int.
They are guar.,
p. A I., by the BIrm. Ry., Lt. A Power Co.
V. 104. p. 1700.
ROAD.—-Owns and operates 31.235 miles main track, 0.805 mile sidings,
Ac,, 0.676 mile misc.; total, 32.716 miles.
70-lb. steel rails; standard
gauge.
Has 25 P-A-Y-E steel coaches and 3 misc. cars.—V. 104, p. 1700;
V. 109, p. 981.
_
The Trac. Co. owns
railway property of the old Idaho Ry., Lt. A Power Co. except
Ltd. (now the Boise Ry., V. 105, p. 715).
There
remains outstanding against the property the following issue of bonds:
*
in fee all the
BIRMINGHAM, ALA.
RR. Co.,
BONDS—
Date.
Interest.
Outstanding.
Maturity.
Boise A Int 1st M $5,000,0001 1906
5 g A-O
$992,000
1946
($l,000)s fAsub to call.cAr/Int. at Colonial Trust Co., Pittsb., Trustee.
ROAD.—72 miles single track equivalent of interurban lines and 11 miles
g
of
city lines; total. 83 miles.
BOSTON, MASS.
BOSTON ELEVATED RAILWAY.
ORGANIZATION.—Charter granted In 1897 provides for an extensive
system of free transfers.
On April 29 1903 leased from the Old Colony Street Ry. (now merged in
the Bay State St. Ry.) all that company's tracks in the city of Boston,
amounting to 23.753 miles.
The lease is for 99 years and provides that
besides paying taxes the Elevated Oo. will pay 6)4% of replacement value
(appraised at $353,979, less the rental of certain short pieces of track
appraised at $13,866) of the property leased as of date Feb. 16 1903, and
4% on th
cost of all additions and betterments.
Lease of West End.—The West End Street Ry. is leased until June 101922.
Consolidation with
West End Street Ry.—In July 1911 Massachusetts
Legislature passed an Act (signed by the Governor on July 21 1911) super¬
seding that approved May 28 1908 (V. 80, p. 917, 1342), permitting the
consolidation of Boston Elev. and West End St. Ry. at the expiration
the present lease, on June 10 1922.
8% cum. 1st pref. stock of Boat. Elev,
(having the ordinary voting powers, but not "entitled to participate In any
Increase or Issue of new stock, com. or pref."), to be Issued, $ for $. for West
End pref. and 7% cum. (or 8% if arbitrators so decide) 2d pref. (having
*11 voting
powers without exception) for com. stock of West End.
After
the issue or the new pref. shares no other stock to be issued "prior or equal
to such 1st pref; and 2d pref. stock without the consent of two-thirds of the
holders, of such stocks, respectively."
The Act also provided that the Street
Ry. forthwith sell to the Elevated Co. all unused real estate, the proceeds
not exceeding $1.500.000 to be invested as a special trust fund and to accum¬
ulate until June 10 1922.
Thereafter the annual income thereof shall be
applied to cancellation of 2d pref. stock.
When all the 2d pref. has been
retired then said fund shall be applied by the Elevated Ry. Co. to any
V. 93, p. 344.
}>urpose for which stock and bondsboth legally be issued. and West EndAct
See terms of St.
Shareholders of can the Boston Elev.
n
Ry. approved the Act; the former on Aug. 241911 and the latter on Sept. 6
1911.
V. 93. p. 660.
Holders of West End com. and pref. stock may on
or before June 101922 exchange their stock at par for Elevated Ry. common
After June 10 1922 holders of Bost. Elev. 1st or 2d pref. may exchange
their stock for an equal amount at par of Bost. Elev. common.
On Sept. 5 1911, in a suit brought to test the constitutionality of the
Merger Act. Judge Colt in U. 8. District Court sustained the demurrer of
the West End St. Ry. and dismissed the suit to prevent the merger.
V. 95,
p. 018.
New suit brought by a West End shareholder in France on Dec. 31
1913 (V. 98, p. 74) also dismissed.
Subways.—i n Dec. 1896 the West End Street *Ry. leased the right to use
the Tremont St. subway in Boston.
See terms under West End Street By.
On Dec. 24 1904 the East Boston tunnel (under Boston Harbor) was
leased by the Boston Elevated Ry. until June 101922 for a rental of H of 1 %
of earnings of all lines owned, leased or operated.
The company also col¬
lected a toll of 1c. per person, which went to the city, but toils were abol¬
ished Feb. 8 1916 by an Act permitting the city to assume them each year
by act of the City Council appropriating sum sufficient to cover int. and
skg. fd. requirements for the year.
The tunnel was opened Dec. 30 1904.
It extends from the main land to East Boston, 1.4 miles, and cost $3,500,000.
On June 281902 Wastdngton Street Subway Dill became a law.
The city
ccag ructed
a
tunnel
for
elevated
trains
and
leased
same
to the Boston
evated Ry. for 25 years at an annual rental of 4)4 % of total cost of con¬
traction, which was $7,901,700 net. V. 88, p. 98. Proposition was ratified
y voters at Dec. 1902 election. V. 75. jr. 28. 496, 1315; V. 77, p. 2097;
82, p. 217.
The Washington Street tunnel began operation Nov. 30
908.
V. 87. p. 1477.
In June 1906 the Mass. Legislature passed a law permitting the Boston
Elev. to construct two subways in Cambridge, and to issue stock or bonds to
meet the cost.
At the end of 20 years the city of Cambridge is to have the
right to purchase these subways by paying their cost plus 7% int., less divi¬
dends.
V. 83, p. 93.
On Jan 4 1912 the first through train was ran in the
new subway; it was opened for public travel Mar. 23 1912.
V. 94. d. 1185.
New Construction of Subways and Old Contracts Extended.—In July 1911
Mass. Legislature passed an Act (accepted by the city and Boston Elev.
In Sept. 1911) providing for the construction by the city of three additions1
subways, viz., Dorchester Tunnel. Boylston St. Subway and East Boston
Tunnel extensions, and the extension of all existing contracts until July 1
1936. the date to which contracts for new lines are to run.
Annual rental
after expiration of eld contracts to be as follows:
Tremont St. Subway
(see under West End), 434 % on net cost; East Boston tunnel (now expiring
June 10 1922), 4)4% on net cost (provision for tolls from passengers using
the tunnel eliminated for extension period); Washington St. tunnel (now
expiring Nov. 30 1933), 4)4% on net cost.
Annual rental for new lines:
Cambridge connection, for first 20 years, 4 34 % on net cost; thereafter 4 )4 %
on net cost; Dorchester and Boylston tunnels and
East Boston tunnel ex¬
tension, 4)4 % on net cost.
The Act also provides that all contracts are to
continue after July 1 1936 until terminated by a two-years' notice by either
party.
The various new leases and extensions of old leases were signed by
the
parties thereto on Dec. 7 1911.
The
new
V. 93, p. 1785.
Boylston St. rapid transit subway on which work
was
begun
Mar. 8 1912, was opened for traffic Oct. 3 1914 from the Tremont St. sub¬
way, near Charles St., and the Public Gardens, westward toward Brook-
line, 1 )4 miles.
The subway cost the city about $4,500,000 (V. 99. p.1213).
The extension of the East Boston Tunnel, on whicbMconstructlon was
begun
Nov. 29 1912, was opened March 18 1916, permitting an 18-minute schedule
from Central Square, Cambridge, to Maverick Square, East Boston. Esti¬
mated expenditure on this project, $2,400,000. V. 102. p. 1058. Construc¬
tion of the Dorchester Tunnel, which is an extensiomof the
Cambridge sub¬
way, was begun on May 30 1912.
The operation or cars to the Broadway
Station in South Boston was begun on Dec. 15 1917. and the completed
tunnel to Andrew Square was opened for traffic on July 1 1918.
On
April 4 1915 trains began operating to Washington Station, just east of the
Summer and Winter stations of the Washington Street Tunnel, and on
Dec. 3 1916 to South Station Under, at Dewey 8q. and South Terminal
RR. station.
Cost of this tunnel without equipment is estimated at up¬
wards of $9,800,000.
Oct., 1920.)
ELECTRIC RAILWAYS
Everett Elevated Extension.—'The
Everett elevated extension and bridge
In cbnnection therewith were
opened
on Mar. 15 1919.
Years
Revenue miles
Revenue pass,
Fare shall continue to be decreased
creased if reserve fund is
or
Ill, p. 72.
Report of Mayor's Committee.—V. 108. p. 876.
Trustees.—The following hare
been
appointed trustees
under
the
"Public Operation Act": Chairman, James F.
Jackson, Samuel L. Powers,
Winthrop Coffin, John F. Stevens and Stanley R. Miller
(Sec.).
V. 106.
p. 2755; V. 107. p. 80, 1836, 2374; V.
108. p. 76, 377. 479.
Decision.—On July 22 1919 Judge Pierce of the
Mass. Supreme Court
refused to issue a temporary injunction
restraining the State Treasurer
from paying $4,000,000 to the trustees to
meet a deficit in the
operating expenses as provided for
Compare V. 108. p. 377, 682.
in
the
above
Act.
"Control Act" Upheld.—On April § 1919 the Mass.
Supreme Court in
opinion submitted to the State Senate held that the Act above
is constitutional.
a
an
described
The
Senate requested
decision from the court
as
to the
ing, both of which provided for
a
the opinion
in order
constitutionality of two bills
to
obtain
then pend¬
rate of fare less than the cost of
furnishing
service, the deficit to be made up by direct taxation.
The court held that
it is within the constitutional
power of the Legislature to pass such legis¬
lation. V. 108, p. 1390.
Deficit of Co. for 1918-19 Assessed upon Municipalities.—The total deficit
of the system for the year
ending June 30 1919 amounted to $3,980,152.
plus $59,622 int. on the bonds of the
Commonwealth, making a total of
$4,039,774 to be assessed upon cities and towns.
Of this amount the tax¬
payers
of Boston
are
obliged to pay
$2,905,931, or over 71% of the
A bill in equity has been filed in the Supreme
Court, Boston, seeking to have the above assassment
upon that city de¬
clared illegal,
V. 109, p. 774.
No further developments.
total deficit.
V. 109, p» 774.
New Equipment—Investment in
Property 1911-1916.—See V. 104, p. 862.
In June 1918 the Mass. P. S. Comm.
approved the purchase of 200 centreentrance motor cars and 100 trailer cars. V.
106, p. 2449: V.
108,
p.
1604.
Fare Increases.—In July 1918 a fare Increase
from 5 cents to 7 cents, effec¬
tive Aug. 1 1918, was announced.
V. 107, p. 180, 290, 400, 500.
On
Dec. 1 1918 it again became
necessary to raise the fares and an 8-cent rate
was therefore put into effect. V.
107, p. 2097, 2288, 2374.
On July
10.
1919 fares were raised to 10 cents. V.
109. p. 67, 170.
Sale of Cambridge
Subway.—On May 1 1920, the State gave to the co.
$7,868,000 in payment for the Cambridge
subway.
We understand that the
subsway is to be rented to the co. at a rate equivalent to
44$% on the
bonds issued by the State on account of
the purchase of the property.
See
also V. 110, p. 1414.
Disbursements of Proceeds of Sale.—The Co., with the
approval of the
Mass. Dept. of Public Utilities,
expended $1,581,000 of the proceeds of the
sale of the Cambridge Subway, for the
payment and cancellation of SI ,81,000 7% oonds of the West End St.
Ry. due Aug. 1 1919 and$375.000 7%
onds of the same co. due Feb. 1 1918
(these obligations had oeen financed
by funds obtained on temporary notes); $1,000,000 for ext. and
construc¬
tion; $1,800,000 for payment of West End St.
Ry. bonds maturing Aug. 1
1920; $269,755 to retire floating debt; and $1,561,245 to cancel
outstanding
debt incurred through impts. to West End St.
Ry. property,
See V. 110,
p. 1748, 2291, 2567; V. Ill, p. 72.
In Feb. 1920 the trustees were auth. to issue
$1,500.000 30-yr. 7% coupon
bonds to refund a like amount of
6% bonds due Mar. 1 1920.
V. 110,
p. 658, 764.
We have been advised, however, that this issue was
taken
up by notes receivable.
.
STOCK AND BONDS—
Stock. $23,950,000 ($100)
Data.
Interest.
Quar
Pref stock, 7% cum ($100)--Debentures, gold
c&r.ntf
...
3,000,000
8,500,000
I Old Colony Trust Co., Boston.
Debentures,gold
c&r.ntf 1907
44$ A-O
4,800.000
Debentures, gold—_c*&r*_ntf 1911
4H M-N
5,000,000
Debentures, gold—_c*&r*_ntf 1912
5 J-D
8,280,000
Debentures
1919
6%
1,500,000
Loans and bills payable Dec. 31 1919
3,908,843
j JL905
4 gJM-N
Maturity.
Outstanding.
$23,879,400
See text.
-
See text.
May 1 1935
Registrar.
Oct
1 1937
1 1941
11942
Nov
Dec
Mar. 1 1924
—
Stock.—The pref. stock
outstanding will be subject to the 1st and 2d pref.
stock, to be issued in exchange for the pref. and com. stock of the
West
End St. Ry., upon consolidation in 1922.
It is proposed that stock shall
be subject to retirement at 105 and divs. and in
liquidation receive 105 and
divs.
V. 106, p. 2344.
Listed on Boston Stock Exch.
V. 107, p. 400.
In
Dec.
1908
the
Massachusetts Railroad Commission sanctioned
$0,650,000 additional stock (raising stock to
$19,950,000) at $110 per share,
the
of
to defray
cost
the Cambridge
subway and for the construction of the
East Cambridge and West End elevated
lines.
V. 87, p. 1602: V. 88, p.
1372.
In Dec. 1912 increased its stock from
$19,950,000 to $23,950,000
and offered stockholders the
right to subscribe for new stock at $105 per
share.
V. 95, p. 1272; V. 96.
p. 61.
Bonds.—The coupon bonds are In
denominations of $500 and $1,000
(except 1911 issue, which are for $1,000 only), and registered bonds of
all
Issues are in denominations of
$1,000, $5,000, $10,000 and $50,000.
Dividends.—First div., 2 H%, was
paid Aug. 15 1898.
In 1899, 54* %;
In 1900, 44$%." in 1901.
55*%; in 1902 to 1913 inclusive, 0% yearly; in
1914 rate was reduced and in Feb. 2% was
paid.
In July 1914 it was de¬
cided to pay dividends
quarterly (V. 99. p. 341) and In Aug. 1X % was paid;
Nov., 14$%.
In 1915, 54$%.
In 1916, 5%.
In 1917, Feb., 1^%: May.
4$%: Aug.. 14$%; Nov. div. passed (V. 105, p. 1897).
Under public con¬
trol an initial div. of $2 04 1-16 on
pref. was naid in Jan. 1919.
In July
1919 $3 50 was paid and same amount
paid semi-annually since.
On
common an initial div. of $2
50 was paid in Jan. 1919.
in April $1 25
was paid and same amount
paid regularly to and incl. July 1920.
On Oct. 1
1920 $1,374$ was paid.
See under "Public Management and
Operation"
above and V. 107, p. 21o7, 2288; V.
108, p. 1059; V. Ill, p. 1082.
REPORT.—Report
of
1919, in V. 110, p. 1521.
Dec. 31.
Boston
Elevated Ry. for year ending Dec. 31
Fiscal year changed in 1917 by
Legislature to end
20,976,965
2.980,867
19,733,876
6,186,752
84,531
18,686,972
6,606,976
85,728
5,798,243
3,066,595
6,271,283
6,701,332
997,955
640,115
405,388
1.011,729
546,204
371,312
928,500
554,106
326,397
867,190
536,871
343,813
158,801
184,687
1,453,160
9,180
69,825
1,064,625
65,053
355.568
68,057
28,357
71,008
207,515
5,704,252
93,991
on
earnings
subway
176,545
Divs.
176~903
494.089
1,494,089
on
9,180
9,180
60,945
1,309,477
246,312
356,640
107,878
100,810
71,124
229,190
473,859
96,866
60,312
1,120,787
181,369
356,639
76,322
100,715
71,124
215,527
238,743
71,366
1.087,041
22,343
12~299
6,776,373
94.256
1,483,857
9,180
560,725
183,958
on
Divs.
6,053,302
West End stock
Som. Horse Ry.
Miscell. lease rentals
Int.onBos.El.fund, debt
Int.
on
unfunded debt—
Wash'ton St. tunnel rent
East Boston tunnel rent
do
do
ext. rent
Cambr'ge Connec. rent.
Boylston St. subw. rentDor Chester Tunnel rent.
Miscellaneous
Total
-
deductions
Balance,
sur.
or
def
—
Dividends
Surplus
*24$%
deficit
or
87,531
356,622
71,366
99,608
71,105
210,840
13", 846
5,553,777
5,497,562
def.978,130def.2,986,706 sur.717,506 sr.1,203,770
(12)1403970
*658,235(3 4$)835,779 (5)1.193,970
—df2,382,100def.3,644.941
on common; 2.04 1-16 on
def.118,273
sur.9,800
preferred.
Latest Earnings.—For the sear
ending June 30 1920: Balance, after "cost
of service" (this includes all fixed
charges and $5 a share on ohe com. stock),
$17,080.
V. 111. p. 587.
Road Dec. 31 1919 ("R" Stands for
Rapid Transit Track.}
Miles.
Main 1st track (16.804 "R")
Main 2d track (16.580 "R")
248.420
214.138
72.768
Sidings, &c. (9.991 "R")—
Miles.
Owned by West End
.425.891
Leases, trkge.,&c. (43.375 "R").109.435
Total (incl. 43.375 "R")—535.326 I
Total (incl. 43.375 "R")__535.326
Weight of girder rails is 70 to 150 lbs.
Cars, 3,232; horses, 187; electric
motors, 7,902; snow-plows, &c., 262; snow sleds, 620; misc., 421.
In June
1918 was auth. by the Mass. P. S. Comm. to purchase 200 centre-entrance
motor
and
100 cars of the trailer type. V. 106, p. 2449; V. 108. p. 1604.
OFFICERS.—Gen. Mgr., Edw. Dana; Treas., Henry L.
Wilson; Gen.
Aud., J. H. Moran.—V. 108, p. 2527; V. 105. p. 67, 72, 170, 171,
269, 370.
774, 887, 982. 1697, 1890, 2171, 2262, 2439; V. 110, p. 166, 658 ,764, 1186,
1521, 1748, 2291, 2487, 2567; V. Ill, p. 72, 587, 1082.
cars
|
,
company's
109. p. 370.
Y.
29,404,591
$
18,126,247
639,505
Rental of
if
pur¬
chase prioe to be an amount In cash
equal to amount paid in by com. stock¬
holders of West End plus
par value of the pref. stock.
Operation of Hyde Park Lines— See V. 110, p.
2487, V.
S
19,008,052
725,824
&c
Total
in-
6aid in by already been merged into Boston take over West West St. Ry.
itter has the stockholders; also State may
End
Elevated, the
End
$
20,337,460
Deductions—
Int. on West End debt—
Taxes, West End
Taxes, Boston elevated-
public operation; (6)
schedule of 8 different grades of fares, of which 4 shall
be below and 4 above rate of fare
first established; schedule shall be increased
whenever fare is changed, so that there
shall always be not less than 4
grades
above and 4 below the
existing fare (see "Fares" below). (7) Whenever in¬
come is insufficient to meet cost
of service, the reserve fund shall be drawn
upon; if more than sufficient, excess shall be
transferred to the reserve fund;
(8) If on last day of June 1919 or on last
day of any Sept., Dec., March or
June thereafter, reserve fund exceeds
by 30% or more original amount, and
Income during
preceding 3 mos. exceeded cost of service, next lower grade
of Tare shall be adopted; if reserve
fund is less than 70% of
original amt., and
during preceding 6 mos. income was less than cost of
service, next higher
above or below said limits;
(9) If reserve fund Is
Insufficient to meet deficiency in cost of
service, State shall make up the
deficit and assess same
upon cities and towns in which the co.
operates;
(10) At end of period of public management and
operation, road reverts to
board of director*, who may continue to
onerate same on service-at-cost
plan, and pay $6 a share com. divs.; (11) State has
option of taking over the
road by assuming liabilities, and
paying in cash an amount equal to that
$
28,752,675
651,916
Total
Taxes
Dec.HI '18.
53,721,249
Net earnings
Misc. interest,
a
grade of fare shall be adopted.
run
Earnings—
Passenger
Mails, rents, adv., &c_
April 1903
V. 76, p. 809.
Public Management and
Operation—Service at Cost.—On June 3 1918 the
shareholders of the
company and the West End Street Ry. accepted
the Act providing for public
operation with service at cost and a fixed
rate of return on the
company's common stock (compare V. 102,
p. 2076;
v.
104, p. 2450).
A certificate
accepting the Act and evidence that
$3,000,000 new preferred stock had been subscribed
for by the stock¬
holders as provided therein were
filed with the State Secretary later in
the month.
V.
106
p. 2227,
2344, 2755.
The Act went into effect
July 1 1918 and provides substantially as follows:
(1) Road to be managed
by five trustees, appointed by the Governor;
(2) Period of public operation,
10 years or longer, at option of
Commonwealth; (3) Trustees have power to
regulate fares and transfer privileges, and determine
character and extent
of service; (4)
Company to raise $3,000,000 by sale of pref. stock at not
less than par, $l,OOO.O0O to be
used as a reserve fund and
$2,000,000 for
add'ns & Impts.; (5) Fares must be
sufficient to meet cost of service,
pref.
divs. at 7% and com. divs. at rate of
$5 a share for first 2 years, $5 50 for
next 2 years and $6
during balance of period of public
operation; the first
payment is to be made 6 mos. after commencement
of
Trustees shall adopt
Year end.
endingDec. 31 *17. June 30 16.
53,021,816
59,455,693
58,572,308
carried—324,758,685 348,665,700 381,017,338 363,477.041
Dec. 31 '19.
Damages by Noise.—In
Aug. 1902 Judge Mason, in the
Superior Court
at Boston, held that the
company is liable for damages from noise caused
by the operation of trains.
V. 75. p. 496.
This was affirmed
by Massachusetts Supreme Court.
11
Companies
Controlled
by
Boston
Elevated
Railway
Co.
(1) West End Street Railway.—A trolley road.
ORGANIZATION.—Leased to Boston Elevated Ry. until June 10 1922
7% on common and 8% on preferred In addition to the payment of
rentals, interest and other charges.
Elevated assumed possession Jan. 1
1898.
See terms In V. 65, p. 1223.
Consolidation authorized with the
Boston Elevated Ry.
See particulars under latter company.
In Dec. 1896 leased the right to use the Tremont Street
subway at 4% %
of its net cost, stated
approximately as $5,786,000 in Sept. 1898. when the
third and last section was opened.
Lease has been extended to July 1 1936.
Cost on which rental based Dec. 31 1918,
$4,344,613.
Entire length is
1 2-3 miles, with a trackage of about 5 miles.
See V. 63, p. 1065, 1117;
V. 67, p. 528.
See Bost. Elev. for extension of contract and new construc'n.
at
On Apr. 2 1917 11,694 shares additional common stock were sold at
tion in 8 lots at prices ranging from 51 »/$ to
524$.
V. p. 104. 1389.
State Control Adopted.—See Boston Elev. Ry. above; also V.
In July 1918 issued $1,581,000 6-year
7%
of bonds due
Aug. 1 1918.
V.
bonds
107, p. 503.
auc¬
106. p. 2451.
to refund a like amount
Compare V. 106, p. 2451.
The $1,581,000 7 % bonds due Aug. 1 1920 were
paid for out of tho proceeds
of the sale of the Cambridge Subway.
STOCK AND BONDS—
Date.
Com stock
Interest.
7. A-O
Preferred
8 J-J
Outstanding.
Maturity,
$14,029,850 Oct '20,34$
0,400,000 July 20,4%
•
5 M-S
2,600,000 Mar 1 1944
5 F-A
1 1922
2,700,000 Feb
4 F-A
6,709,000 Aug
1932
44$ J-J
700,000 Jan
1923
44$ J-J
1930
1,604,000 July
Bonds
L
ntf 1912
5 M-N
600.000 Nov 1 1932
Bonds
1910
5 M-N
815,000 May
1936
Bonds--..-.
1917
7 M-S
1947
570,000 Sept
Bonds ($1,000)
c*&r_ 1918
7 F-A
1.581.000 «Aug
1924
Bonds.—Interest on all issues is payable at American Trust
Co., Boston,
except on the 6-year bonds of 1918 and the 3-year bonds of 1916 and 1917,
which is payable at Old Colony Trust Co., Boston.
($50) $14,029,850
($50) $6,400,000
5% bonds of 1914
1914
Bonds ($1,000)
1917
Bonds
($l,000)-»c*-ntf 1902
Bonds
($700,000)—c&r.ntf 1908
Bonds ($1,000)
c&r.ntf 1910
„
-
OFFICERS.—Pres., Joseph B.
1701, 1893; V. 110,
V. 109, p. 982,
Russell; Treas., Parkman
Dexter.—
2568; V. Ill, p. 190, 10S5.
p.
81) Somerville Horse RR. Leased
8.03 miles of track.
wns
yearly—6%
on
$153,000 stock.
to West End Street Ry. for $9,180
Dividends are payable M. & N. in Boston.
BOSTON SUBURBAN ELECTRIC COMPANIES.—A trolley
system.
ORGANIZATION.—This company Is
a voluntary association formed in
1901 on the same lines as the Mass. Electric
Companies.
Con¬
through stock ownership the Middlesex & Boston Street Ry. (Into
which the Natick & Cochituate St. Ry.. the Westboro &
Hopkin St. Ry.,
the Newton & Bos. St. Ry., the Newton St. Ry. and the Lex. & Boston St.
Nov.
trols
Ry. have been merged).
ton Park.
In 1902 purchased Norumbega Park and Lexing¬
Has acquired freight rights in several of the towns
along its lines.
STOCK.—Shares have no par value, but in case of liquidation the pre¬
ferred shareholders will be entitled to $100 per scare, with accrued
dividends,
the common shares participating pro rata in the
remaining assets. (See
V. 73, p. 1159,1263.)
In 1904 15,635 shares of preferred and 15,635 shares
of common were offered to shareholders at $66 67 for one share of
pref. and
one share of common Jointly.
Listed on Boston Stock Exch. In Apr. 1905.
On May 22 1913 the stockholders authorized the cancellation of the 32,387
shares of cpm. pref. stock outstanding and the issue of notes in
place of
holders having the option of taking cash or notes for their stock.
V. 90, p
1487.
Fare Increase-See Middlesex & Boston Street Ry. below.
Suit.—In Jan. 1920 James C. Clinton of Boston brought suit for
$1,000,000 in the Superior Court of Suffolk County, against Chas. W. Smith et
same,
al,
trustees, to
166.
recover on
$623,000 10-year 4% bonds due Dec. 11919.
V. 110,
p.
The notes due Dec.
1
1919 had not been retired up to Oct.
STOCK AND BONDS—
Common
Date.
Interest.
15 1920.
Outstanding.
stock,.
Maturity.
50,296 sh.
Preferred stock, $4 per sh, cum
Q-J
31,203 sh.
See text
Coupon
notes,
$2,000,000f 1909 4 J-D
$1,100,800
Dec 1 1919
($100. $500 and $1.000)
l Interest at Boston Safe Deposit & Trust Co.
Demand and time loans
85,000
r
Notes.—The 1909 notes are not specially secured, but are simple obliga¬
—
—
—
...
tions of the association, subject to call on any interest
notice at 1024$.
V. 89, p. 1068.
date
on
60 days'
ROAD.—Companies owned and controlled operate In the aggregate about
131 miles of track from Needham on the south to Lowell on the north, and
connecting at five points with the tracks of the Boston Elevated Ry.
At
Westboro connection Is made with the Worcester Consolidated.
Dividends.—First of $1 on preferred paid April 1902; also $1 July 1902
and $1 Oct, 1902.
In 1903. $4: In 1904. $2 50; in 1905. $2; In 1908. $2 75;
In
1907, $3-
Jan.. April and July 1908 div. passed.
In Oct.
1908 divs.
resumed, and paid 75 cents.
In 1909, $3.
In 1910 to 1913, Incl., $4.
In
1914, $350.
in 1915, $3.
In 1916, $3.
In Jan. 1917, 50c.; April, 50c.
None since.
Arrears of dividends, $27.00.
ELECTRIC
•
13
REPORT.—For years ending Dec. 31:
Period—
Inc. from Sec.
Exp. & Int.?
Year end. Dec. 31 1919
$86,807
$85,775
Surplus.
$1,032
2,515
Adams D. Claflin; V.-P., Sydney Harwood; Treas..
Chas. W. Smith; Sec. John C. Carr; Asst. Treas., G. M. Cox.—V. 103, p*
60, 1209; V. 104, p. 2640; V. 105. p. 2542; V. 106, p. 818; V. 110, p. 166*
OFFICE {IS.—Pres.,
(1)
Middlesex & Boston Street Ry.—Trolley.
ORGANIZATION.—Organized In 1907 and took over the South MiddleStreet Ry., sold at receivers' sale July 1 1907, and has since acquired
seat
and merged the Westborough & Hopkinton St. Ry.. the Natick & Cochituate St. Ry. (V. 87, p. 1420), the Newton St. Ry. (Into which Waltham St.
Ry. had been merged, and which
and Wellesley & Boston
St. Ry. (V. 89. p. 993).
had acquired Commonwealth Ave. St. Ry.
St. RyJ, V. 89, p. 778, and the Newton & Boston
On May 9 1912 Mass. RR. Commission granted
permission to absorb by consolidation the Lexington & Boston St. Ry. and
Issue $525,000 stock in exchange $ for $ for stock of absorbed company;
V. 94. p. 1317.
Fa?es.—On Nov. 1 1919 a 10-eent fan. was placed into effect on all the
company's lines,
V. 109, p.'1891.
In April 1920 issued $500,000 1st & ref. 4)4» to refund a like amount of
Lexington & Boston Street Ry. bonds due April 1 1920.
Dale.
STOCK AND BONDS—
Interest.
Maturity
Outstanding.
$1,987,000 In*17 1)4%
8tock, $1,987,000
First and ref M, $5,000,000/
1912
4)4 gJ-J
1,983.000 Jan
1 1932
gold ($1,000)
cllnt. at Boston Safe Dep. & Tr. Co., trustee.
Current liabilities Dec. 31 1919
360,033
Bonds.—Remaining first and refunding bonds are reserved for additions,
Callable on any interest date on 30 days'
as follows:
Jan. 1 1917 to July 1 1921, inclusive, at 107)4 and int.;
Jan. 1 1922 to July 1 1926, Inclusive, at 105 and int. ; Jan. 1 1927 to
July 1 1931. inclusive, at 102)4 and int.
V. 94, p. 351.
extension and Improvements.
notice
Dec. 31 1919, gross, $1,141,905; net.
&c., $157,962; surplus, $2,653.
of traoa in Newt,on.
Walcriam, Watertown, Natick, Wellesley, Framingham. Hopkinton. Needham, Westboro.
Sherburn, Wayland, BeimoDt and Ashiand, connecting with the Worcester
Consolidated Street Ry.. the Boston
Elevated Ry. (at 4 points), &c.
Forms a link In a through line from Boston to Worcester.
Also owns 32.356
miles of track, leases 0.745 mile; total, 33.101 miles, extending from Arling¬
ton Heights (terminus of Boston Elev. system) through Lexington and Bedford to Billerica, where cars go through to Lowell without change, and also
to the Sullivan Square, Charlestown, station of the Boston Elerv. Ry., with
branches to Waltham and to Concord.
Total track owned, 128.254 miles.
264 pass, and 14 work cars; 26 snow plows.
60 to 75-lb. T. and 95-lb
girder rails.—V. 109, p. 1891; V. 110, p. 1188, 1526; V. Ill, p. 370.
EARNINGS.—For year ending
after taxes, $160,615; interest,
KOAl>.—owns
95.904 miles
*
'
MASSACHUSETTS STREET RAILWAY COMPANY
EASTERN
ORGANIZATION, &c.—Incorporated
early in 1919 in Mass. pursuant
"Special Act" respecting the Bay State Street Ry. [as
and has acquired substantially all the assets of that
company, including the leases of the Boston & Chelsea RR. Co., the Boston
& Revere Electric St. Ry. Co., the East Middlesex St. Ry. Co., the Winnlsimmet RR. Co., which see under separate headings below.
The stocks
and bonds of these companies are to remain undisturbed.
The other issues
remaining undisturbed are the 6% equipment notes of the Bay State
Street Ry., due serially to 1927, and $64,000 first mortgage bonds of the
to
of the
terms
belowj
described
Peoples Street Ry. due June 1 1923.
tended
at higher interest rates
Various underlying liens were ex¬
and these appear below.
April 21 1919 the property of the Bay State Street Ry. (except
the Rhode Island and New Hampshire lines)
was sold at foreclosure
to Arthur I. Glidden, in behalf of the reorganization managers for $3,600,000
preparatory to reorganization as the Eastern Massachusetts St. Ry.
Sale
was confirmed April 26 1919.
V. 108, p. 1721, 1822.
On May 31 1919 the
property was conveyed to the Eastern Massashusetts Street Railway Co.
Trustees in Control.—On June 1 1919 the five public trustees appointed
by the Governor took executive control.
V. 108, p. 2122.
Since the trustees assumed control of the property about 60 miles of
non-paying lines have been discontinued.
V. 109, p. 1366.
See also V.
109, p. 1461.
On Jan. 15 1920 the company discontinued service in Salem,
Mass.
Service has also been abandoned between Bridgeport and New
Sale.—On
V.
Bedford.
As
vers
110, p. 261.
result of a notice served by the
a
Public Trustees, that trolley service
Danthe trolley line.
In Oct. 1919 the town
contribute to the cost of main¬
the line rather than have service discontinued.
V. 109, p. 1700.
be discontinued
would
voted
unless jitneys were abolished, the people of
discontinue the jitney service and retain
to
109, p. 1700.
See also V. 109, p. 1891,
of North Reading expressed its willingness to
V.
taining
2171.
barred jitneys from its streets, but this ac¬
by Judge Geo. W. Kelly, of the District Court, on Dec. 3
The town of Whitman, Mass.,
tion was overruled
1919, who held that the regulation adopted by the Whitman Board of
Selectmen forbidding licenses to jitneys to compete against the company
could not be sustained because it discriminated against the jitneys.
V. 110,
p.
261.
licenses
In
The Lynn City Council in Feb. 1920 voted to revoke
on
Feb.
April
1920.
26
1920 was auth.
one-man cars
and 12
000 serial bonds.
snow
V.
110, p. 871.
all jitney
by the Mass. Dept. of P. U. to purchase 200
sweepers from the proceeds of the sale of $2,000-
V. 110, p. 871.
$2,500,000 (see offering in V. 108, p, 973), serial
issuable under the plan and also $1,000,000 of the
offered to the stockholders was underwritten by Lee,
The purchase of the
bonds of this company,
ash
subscriptions
Higginson & Co.
Interest Deferred.—The coupons, due March 15 and Sept.15 1920 on the
$972,000 Ref. M. 6s, Series C, and April 1 and Oct. 1 1920 on the $806,000
Ref. M. 6s, Series D, as well as those due July 1 1920 on the Ref. Mtge.
Series A 4)4% and B 5% bonds of 1919 were not paid when due.
The
failure to pay the interest on these bonds does not amount to a legal default
as is explained in the italicized portion of the description of these issues
given below.
See also V. Ill, p. 73, 493, 1182.
Special
Act.—(1)
Provides that the company shall be managed for
10 years by 5 trustees to
be appointed by the Governor of Massachusetts
appointed for the first 5 years are:
Homer Loring, Chairman;
Arthur G. Wadleigh,
The trustees
Isaac Sprague,
Earle P. Charlton,
Fred. J. Crowley,
,
Gives to the trustees absolute power to fix rates and fares (free from
S. Commission or any other authority) so as to
produce income sufficient to pay all costs of operation (including taxes,
maintenance and depreciation) and a return on the investment sufficient
to cover all interest requirements, the stated dividends on the preferred
stocks and 6% per annum on the common stock of the new company.
Fares increased by trustees from 7 to 10 cents on July 1 1919.
V. 109, p. 72.
On Sept. 15 1920 15-cent fares were put into effect in as few places.
V. Ill, p. 1182.
Based upon the P. S. Commission's appraisal of $40,282,340 as of Aug. 31
1916, plus subsequent additions, the property valuation will be about
$46,000,000, 6% on which, or $2,760,000, Is approximately the permitted
initial annual return on the investment.
(2)
the jurisdiction of the P.
Pledges the credit of the State for payment of principal of not ex¬
$4,000,000 new Serial Mtge. bonds maturing within 10 years
of these had to be and were sold immediately so as
to produce $2,500,000 cash, viz., (a) $2,000,000 reserved for future additions
and improvements; (5) $500,000 as a reserve fund.
An additional $1,000,000 cash had to be realized from sale of other new
securities for rehabilitation, &c.
This made a total of $3,500,000 new cash
as a prerequisite.
In the March 29 1919 issue of this publication the reader will find history
of the Massachusetts Electric Companies and the Bay State Street Railway,
the predecessors, and the plan of reorganization in condensed form.
An
extended outline of the plan appeared in the March 8, March 15 and March
29 1919 numbers of the "Chronicle."
Modification in V. 108, p. 1390.
Upon completion of reorganization the company will be capitalized ap¬
proximately as follows:
(3)
ceeding
from date; $2,500,000
STOCK AND BONDS—
text) par $100-($100)
Common (see
Date.
Interest.
Outstanding.
(a)
(a)
Maturity.
6 F-A 15
Skjfdstk $3,239,000cum($100)
6 F-A 15
$3,2391,000
See text
Pref B stock cum ($100)
6 F-A 1
2,998,500
Ad jus stock cum ($100)
5 A-O 1
8,719,000
6% Serial Ref M bonds $5,-? 1919
6%
2,500,000
See text
000,000 ($1,000)
--c*101d Colony Trust Co., Boston, Trustee
1st pref cum
Interest.
Date.
STOCK AND BONDS—
Dividends.
85,367
87,882
Year end. Dec. 31 1918
[Vol. 111.
RAILWAYS
4K J-J 1
5 J-J 1
1919
4)4% Ref M bonds
5% Ref M bonds
;
6% Ref M bonds
6% Ref M bonds
6% Ref M bonds
.—
1919
1918
1919
1919
6 M-S
6 A-O
6 M-N
& D
ntf 1899
1st mtge
806,000 Apr 1
650,000. May 1
1925
1925
See text below
Option Warrants.
3-year notes
See text 6 %
Bay State St Ry equip notes.. 1917
6 g F-A
♦Lynn & Boston 1st mtge, g,T 1894
5 g J-D
$5,379,000 ($1,000) c*_ntf/Int. at Old Colony
H G
Outstanding.
Maturity.
14,956,000 Jan
1 1948
2,870,409 Jan
1 1948
971,428Sept 15 1927
6%
1922
3,150,000
-
_
915,000
See text
3,723.000 Dec 1 1924
Tr. Co., Boston, Trustee.
35,000xSept 1 1928
60.000xJan 11929
Mystic Valley St Ry g
6%
5 g J-D
1893
543,000 June 1 1923
♦Lowell Lawrence & Haverhill
1st mtge, $1,900,000, gold, Subj. to call for the sink, fund at 105 & int.
$1,000
c*.ntf Int. at American Trust Co., Boston, Trustee.
1898
5 J-J
64,000 Jan
1 1928
People's St Ry, West New-.
bury 1st M, assumed..ntf Interest at State Street Trust Co., Boston
1894
5 g A-O
689,000 Oct
1 1924
♦Brockton (Consol) St Ry 1st'
mort, $750,000, gold—ntf Int. at State Tr. Co., callable at 105 & int.
1899
6 J-J
lOO.OOOxJan
1 1929
Boston
Milton & Brockton
1st mtge. $100,000
ntf f Int. at Internat. Tr. Co., Boston, Trustee.
N Bedford M'dleboro & Brock]
1900
5 g J-J
325,OOOxJan 11929
1st M, $325,000 ($1,000). Int. at American Tr. Co., Boston, Trustee.
gold
ntf
1898
6 g M-S
150,000xSept 1 1928
Prov & Taunton St Ry 1st g
($1,000),auth,$200,000. ntf American Trust Co., Boston, Trustee.
1st Ml 1899
($1,000), g, $1,000,000. ntf Jlnt. at
6 F-A
So Shore & Bos St Ry
„
335,000xFeb
American Trust Co., Boston,
pref. and com. stock not yet determined as
details of reorganization have not been completed.
|
a
Amounts of 1st
*
These
issues
the option
have
of extension for 5 years
1 1929
Trustee.
the final
from date of
maturity at 6%, the Lynn & Boston 1st 5s to Dec. 1 1929, the Low. Law.
& Haverhill 1st 5s to June 1 1928 and the Brockton St. Ry. 1st 5s to Oct.
1
1929.
These bonds if
extended will be red. as gold bonds on any int.
and incl. int. date 2 years prior to new maturity
date at 103 and int. up to
date and thereafter at
101 and int.
in accordance
formerly bore 5% int.,
Middleboro & Brock¬
ton St. Ry. 1st 5s which continued at the old int. rate.
These issues with
the exception of the last mentioned are call, at 103. and during the 5 years
preceding maturity at 101 and int.
The N. B. M'dleboro & Brockton 1st
x
These issues have been
extended to the dates here given
with plan.
The extended issues, which in all cases
bear 6% with the exception of the New Bedford
now
5s are callable at par.
,
Stock.—All classes of stock have full
voting rights, except that
the com.
voting rights until Jan. 1 1921, nor thereafter at any time
when $5 of divs. upon the Adjust. Stk. are in default.
Common stock is
issuable under the plan to the amount permitted by the Special Act as
determined
by Reorganization Manager and for any further amounts
found necessary by the Reorg. Managers for other purposes.
The 1st
pref. stock and the sink. fd. stock are cum., ranking equally and pro rata
for divs. and in liquidation, and preferred as to dividends, and also as to
par and accrued dividends in liquidation, over the Pref.
B stock, the
Adjust, stock and the com. stock.
Issue of 1st pref. stock is not limited
and may be called all or in part (when drawn by lot.) on any div. date at
120 and divs.
Any subsequent issue of this stock shall be entitled to such
divs. as shall be fixed at time of issue thereof.
Stock of this issue in addition
to the amount shown as outstanding may be issued (a) in exchange, $ for $,
for Bay State Ry. bank loans and coupon notes whose holders may choose
1st pref. in preference to sink, fund stock; (b) $ for $ for Bay State claims
not otherwise provided for;
(c) compensation of committees, &c.
The
sinking fund 6% stock is callable all or in part on dividend day at par and
int. in order of series, numbers 1 to 21, inclusive, by a sinking fund to which
has
stock
no
the company is to pay each year an
of such year, before declaring any
amount equal to the series diir Feb. 15
dividends on or making any purchase
The shares
of any Preferred B stock, Adjustment stock of common stock.
to be redeemed shall be determined by lot in case funds are not
available
payment of any series in its entirety.
Of the sink. fd. stock $1,425,000, including all of the first six series and part each of series 7 to 15,
were allocated to bank loans and divided among the bank creditors in pro¬
for the
The remain¬
7 to 15, and all
the order of the
maturity of the notes, beginning with $57,000 of the 7th series for the 1918
maturity, and increasing gradually to $202,000, being the whole of the
21st series, for the 1932 maturity.
As a matter of convenience these figures
were prepared on the assumption that the option to take 1st pref. stock in
lieu of sinking fund stock would not be exercised.
Pref. B stock ranks ahead
of the Adjustment stock and the com. stock.
Dividends on this Pref. B
are payable in cash or in com. stock.
Call, all or in part (when drawn by
lot) on any div. day at 110 and int.
The rate of the dividends on this stock
which in any year are paid in com. stock (1) shall not exceed the rate of
the divs. on the Adjust, stk. which in such year are paid in com. stock,
unless all the divs. on the Adjust, stock in such year, if any, are paid in
com. stock, and (2) shall be less by at least 2% than the rate of the divs.
on the com. stock which in such year are paid in com. stock, unless all the
divs. on the com. stock in such year, if any, are paid in com. stock.
The
5% Adjust, stock is preferred over the com. stock.
Call, all or in part at
par and int. on any aiv. date.
The rate of the divs. which in any year are
paid in com. stock shall be less by at least 2% than the rate of the divs.
on the com.
stock which in such year are paid in com. stock, unless all
til vs. on the com. stock in such year, if any, are paid in com. stock.
Stock
of this issue, in addition to the amount shown above as outstanding, could
be Issued in exchange, par for par, for claims against Massachusetts Electric
Companies participating in the plan other than claims in respect of securi¬
portion to their claims.
Series 1 to 14 are for $150,000 each.
ing $1,814,000 of this stock being the remainder of Series
16 to 21, were allocated to the coupoif notes in
of series
expressly provided ftr.
ref. mtge. 6s mature $50,000 each Jan. 1 1920 and
1922-1929, inclusive.
The $50,000 due Jan. 1 1920 were
retired through funds advanced by the Commonwealth of Massachusetts.
These bonds are issued under the company's Refunding Mortgage which
will cover substantially all the properties subject to less than $10,000,000 underlying bonds and undisturbed securities.
The interest on the
Serial 6s is a charge ahead of the interest on approximately $18,900,000
ReTunding Mtge. bonds issued under the same mortgage.
Callable at 105
on any int. date on 60 days' notice.
The 4)4% ref. mtge. bonds are red.
at 105 and int. on any int. day up to and incl. July 1 1943. at 104 and int.
in 1944, at 103 and int. in 1945. at 102 in 1946. at 101 in 1947.
The 5%
ref. mtge. bonds are red. at 110 and int. on any int. day up to and incl.
July 1 1938. at 109 and int. in 1939. at 108 in 1940, 107 in 1941, 106 in
1942, 105 in 1943. 104 in 1944. 103 in 1945. 102 in 1946. 101 in 1947.
The
6% ref. mtge. bonds are red. at 103 and int. on any int. date up to and incl.
Sept. 15 1926 and at 100 and int. on March 15 1927.
In respect of any ref. mtge. bonds issuable under the plan other than the
ref. mtge. serial bonds, any installment of interest payable at any time prior
to June 30 1921 may be extended at the option of the company if there is no
available income as defined in the plan for the payment thereof.
The interest
so extended, plus 20% of its amount. shall be payable 60 days after the close
of the first period ending June 30 or Dec. 31 in which available income as de¬
fined in the plan shall have accrued for the payment thereof, but in no event
later than Dec. 31 1925.
In the meantime the total sum so payable shall
bear interest payable semi-annually at the rate of 6% p. a.
Both the said total
sum and the said interest thereon shall be payable upon presentation of the
coupon for the installment of ref. mtge. extended int.
See V. 109, p. 887.
Additional ref. mtge. bonds other than the ref. mtge. Serial bonds,
and the other bonds issuable under the plan, may be issued to an amount
not exceeding at par value 60% of the cost of future adds, and impts., but
only when the annual net earnings available for the payment of interest
on the ref. mtge. bonds are at least 1 % times the interest charges on all
ties
Bonds.—The serial
1921 and $300,000
ref.
mtge.
This
as
net
now
bonds outstanding and applied for and on all prior lien issues.
earnings provision may, by the firm of Lee. Higginson & Co.
hereafter constituted, Harris, Forbes <& Co.. Inc., or its suc¬
or
and the firm of William A. Read & Co.. as now or hereafter con¬
stituted, be waived in respect of any issue made before Jan. 1 1929.
In
the discretion of the Reorg. Mgrs. the ref. mtge. may provide that it shall
not be foreclosed for a period of 10 years, and in such event a General Mtge.
shall be created subject to the ref. mtge. and covering the same properties
cessor,
securing prin. and int. of all ref. mtge. bonds other than ref. mtge.
and in the discretion of the Reorg. Mgrs. the int. or prin. or
of the ref. mtge. Serial bonds.
Interest on the ref. mtge. Serial
bonds so far as secured by this General Mtge. may be accorded priority
thereunder over any other obligation secured thereby, but subject to this
and
Serial bonds,
both
exception all obligations secured by said General Mtge. shall be equally
The said General Mtge. shall be subject to foreclosure
time in case of default.
secured thereby.
at any
Oct.,
1920.]
ELECTRIC
The Bay State St.
the
are
Ry. equip, notes were issued to provide, in part, for
now semi-conv. P-A-Y-E cars, costing $1,631,000.
of 200
payment
Notes
due $131,000 annually Aug. 1 1918 to 1926, incl.. and $129,000
Aug. 1 1927. but callable on any int. date at 100 and int. on 6 weeks' notice.
The $131,000 which fell due on Aug. 1 1918 were purchased
by_the receiver.
Interest at Old Colony Trust Co., trustee.
V. 105,
due Aug. 1 1919 were paid and retired, as was a
amount due Aug. i
RAILWAYS
DIVIDENDS.—First div. on pref. stock, $2. paid July 1 1904; 1905 to
1908. Incl., $4; in 1909, $2; In 1910, Jan.. $1; 1911. none; 1912. to 1915.
In 1916, $2 50.
In 1917, $2.
In 1918, Jan., $1.
None since.
Incl., $2.
of
Adjustment stock for
delivered
of the
every $100 principal amount of notes will be
trustees, and will be the exclusive source of payment
This Adjustment stock may be purchased by holders of
the
to
notes.
"option warrants" (see below) upon payment therefor at the rate of $36,
$38 and $40 a share, respectively, during the first, second and third 12
months following the date of the notes, with an adjustment of interest
and dividends.
Any payments by option warrant holders, whether of int.
or of prin., may be made in notes at
90% of their par value and int., during
the first 12 months followring the date of the notes, at 95% during the next
12 months, and at 100% during the next 12 months in each case minus
any distributions previously made on such notes.
All payments received
from Option Warrant holders may be hejd by the trustees pending the
maturity of the notes, or, in their discretion, distributed pro rata on all
notes outstanding;
At the maturity of the notes all funds in the hands of
the trustees and all Adjust, stock unsold shall be divided pro rata among
the holders of the notes,, and the notes shall be surrendered and canceled.
The trustees may sell Adjust, stock at such price as they shall think proper
to facilitate
this distribution and for the
payment of their expenses and
compensation.
Upon all purchases of Adjust, stock by Option Warrant
holders, and in all distributions of Adjust, stock, the trustees unless and
until
75% of the Adjust, stock originally held by the trustees shall have been
of stock Option Warrant holders, may in their discretion deliver in
Sin-chased by certificates, voting trust certificates, enabling the trustees
eu
to retain the
voting power for such period.
Option Warrants.—Are treated as par value of the Adjust, stock securing
notes (see above) which stock they are given the right to
buy.
They are to be available for issuance under the plan as follows:
For sale to holders of Massachusetts Electric Companies pref.
shares and common shares
.$7,476,035
For other purposes of the plan
398.965
the 3-yr. 6%
-
EARNINGS.—Income statement period June 1 1919 to May 31 1920:
June 1 '19 toDec.YlQto
June 1 '\9to Dcc.l'lQto
Nov. 30 '19 May 31'20
Nov. 30'19 May 31 '20
Oper. revenue.$6,677,996 $6,631,565 Deductions-._
for
Oper. expenses 5,845,079
6,531,706 Available
Taxes
semi-ann.int.
222,048
101,639
Amt. required
to pay s.-a.
defSl ,780
Oper. income. $610,868
int.
on
East
30,878
54,449
Non.oper. inc.
_______
$221,907
$235,862
#
OFFICERS.—Pres.. William M. Butler; V.-P., A. E. Childs; Sec.. J. F.
Bacon; Treas., A. E. Stone.—(V. 105, p. 1305, 1308; V. 107, p. 1579,1666.)
'life
1920.
Notes.—The 3-yr. notes will be issued by trustees (to be known as Adjust.
Trustees), viz., Francis L. Higginson, Jr., E. Elmer Foye and Walter L.
Haehnlen, or such other persons as shall be agreed upon by the Reor¬
ganization Managers and the committee under the agreement of Nov. 30
1917.
These notes are not an obi
obligation of the company but are carried by the adjustment stock,
Adjustment stock at the rate of $250
Boston & Worcester Street Ry.—Trolley.
ORGANIZATION.—Incorporated in Massachusetts on Nov. 15 1901.
Owns the Framlngham Union Street Ry., Framlogham Southborough & Marlborough Street Ry. and the Marlborough
& Framlngham St. Ry.
In March 1907 Mass. RR. Commission granted
right to do an express and freight business over entire line.
On Feb. 21 1911 Mass. RR. Comm. auth. an issue of $397,200 6% cum.
($100) pref. stock (auth. by stockholders Feb. 2 1911), of which $297,000
was used to retire like amount of common issued in 1910 (V. 90, p
625) and
remainder to fund floating debt.
V. 92, p. 394. 525. 659. 724
In Nov. 1912 made a contract with the Boston Elevated Ry. for the
operation of express cars over that company's tracks to the freight express
Franchise perpetual..
terminal
Harrison Ave.
on
Rates.—In 1909 single-fare unit raised from 5c. to 6c.
adopted, with the approval of the Mass. P. S. Comm.,
on
a
Mass. bonds.
$641,747
545,708
ROAD, Sec.—The old Bay State St. Ry. owned 875.37 miles and leased
72.35 miles, a total of 947.72 m. of main line; also owned and operated
2,130 passenger and 264 express cars.
Power capacity 49 engines, 43,775
h.p.,and 52 generators, 29,755 k.w.; 11 turbines, 22,500 h.p. & 15,100 k.w.
OFFICERS.—V.-P. & Gen. Mgr., R. B. Stearns; Asst. Gen. Mgr.,
Howard F. Fritch: Compt., Caleb S. Jackson; Asst. Treas., H. S. Nowell;
Atty., Philip G. Carleton.—V. 109, p. 887, 1272, 1366. 1461. 1700, 1891,
2171; V. 110, p. 261, 871, 1415, 2657; V. Ill, p. 73, 493, 1083, 1182.
105, p. 1308.
In July 1918 fares were increased to 2)^c. per mile; mini¬
charge of 6 c. unchanged.
Freight rates were also advanced 25%.
March
2
1919 rates were increased to 3 cents per mile with a 7-cent
charge.
mum
On Nov. 24 1916 there were issued 600 additional shares pref. stock at
$100 and $60,000 1st 4Hs at par for paying off floating debt incurred for
improvements and for equipment.
In May 1917 the P. S. Comm. auth. the issue of $270,000 additional pref.
stock and $40,000 additional 1st M. bonds (not issued up to April 1 1920).
Boston & Chelsea RR.—Owns 4.37 miles of main track.
Leased
Lynn & Boston Street Ry. Co. (subsequently the Bay State St. Ry. and
the Eastern Mass. St. Ry.) at $7,260per annum, equal to 6% on $121,000 stock, payable A. & O.
(&)
Boston
&
Revere
Electric
Street
Ry.
Owns 3.78 miles of main
ORGANIZATION.—Incorp. June 24 1889.
Leased from July 1 189.5 for 99 years to Lynn & Boston (subse¬
quently the Bay State Street Ry. and now the Eastern Mass. St. Ry.),
which guarantees interest on the $50,000 mtge. of 1908 and dividends on
$50,000 stock from July 1 1898 at 5% per annum.
track.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
5 J-J
$50,000
See text
1908
5 g M-S
50,000 Sept 1 1928
$50,000 gold ($1,000)c*/Int. at American Trust Co., Boston, Trustee.
Bonds.—No sinking fund, but bonds may be called on any interest date
Stock (par $100)
Boston & Revere Elec St
on
six
(c)
Ryl
weeks' notice.
East
Middlesex
Street. Ry.
19.35 miles of main track.
Leased May 1
1893 to Lynn & Boston (subsequently the Bay State St. Ry. and now the
Eastern Mass. St. Ry.) for 99 yeatts at a rental till May 1 J896 of $18,000
ORGANIZATION.—Owns
yearly in addition to fixed charges; then till May 1 1901 $24,000 yearly
and for remainder of lease $30,000 yearly.
Eight per cent divs. had been
paid, but on May 1 1901 were increased to 10%.
STOCK AND BONDS—
Date.
Interest
Stock ($100),$300.000
Plain bonds, int guar (end)
1902
Interest at Old Colony Trust Co.,
Maturity
$297,700
See text
100.000 Jan
1 1922
Outstanding.
10
4 J-J
Boston.
The lessee In the lease agreed to stamp both Issues of the bonds with
guaranty of the Interest—principal Is not guaranteed.—V. 67. p. 482
id)
Wlnnisimmet (Street)
ORGANIZATION.— Owns
a
ELECTRIC
Interest.
Outstanding.
Maturity.
Notes payable Jan.
*
1
1920
*395,000
Of which $270,000 Is held by B. & W. Electric
Companies.
Bonds.—The Frarn. So. & Marl.1st mtge. 7s were originally 5s and
tured on Jan. 1 1919, but were extended for 3 years at 7%.
ma¬
Dividends.—On pref. 3% semi-ann. from date of issue to and incl. Sept.
1918.
None since.
On com. paid 3% July 1904; also 3% semi-ann. until
Dec. 1908, when \\i% was paid.
In 1909, June, 1>£%; in 1910, Jan.,
1 M%: in 1911, Dec., 1%; in 1912, June, 1H%; Dec., 1X%.
In 1913.
2^%.
In 1914,3%.
In 1915, 2^%.
In 1916, 3^%.
In 1917, June.
Dec., \H%None since.
REPORT.—For years ending June 30:
Fiscal
,Total
Net
lnl.&
Pref.Divs.
Revenue.
Taxes.
(6%).
1917-18_$860,277
1916-17. 806,180
1915-16. 801,254
$178,643
$216,302
264,274
312,921
--
Common
170552
170,946
Balance.
Surplus.
Dividends.
(1 J4)$25,312df$15,085
$27,432
26,832
23,832
(2X) 50,625
(3H) 75,938
16,265
42,205
Latest Earnings- -For cal. year:
$948,936
1919
ROAD.-
None
$186,606
$204,094
None
$17,488
•Owns and operates
ortion
83.619 miles of track, a considerable poi
over private right of way, between Baston and Worcester, including an
extension to Natick.
Rails, 75Tb.
Has 91 cars.—V. 104, p. 1700. 1800.
V. 105, p. 290. 1305. 1308; V. 106, p. 85. 2755: V. 107. p. 290; V. 108.
p. 478. 682.
PUBLIC
SERVICE
INVESTMENT
CO.
ORGANIZATION. &c.—Organized in Maine In 1909 to hold and to deal
stocks, bonds, notes and other securities.
On Oct. 30 1913 stock was
increased from $2,000,000 each of pref. and common to $3,000,000 each.
V. 97, p. 1289.
in
Authorized.
STOCK—
Common
Par.
Div. Period. Outstand'g.
•...$3,000,000 $100
3,000,000
100 Quar.-Feb.
Pref. 6% cum
Stock.—Preferred
stock
is
redeemable
Securities Owned (Stone &
at
$2,500,000
Last Div.
See text.
2,500.000 Nov'20,lH
option of company at 115.
Webster Properties) Dec. 31 1919.
Blackstone Val. G. & E!._.*$634,8501 Tampa Electric Co
b$233,80G
Cape Breton Elec. Co__
*500,0001 Gal v. Houston Elec. Co
*500,000
Jacksonville Traction Co.-*350,000 Northern Texas El. Co
*500,000
Houghton County EL L. Co.*500,000 Pug. Sd. Tr., L. & Pow.Co*l,466,800
Houghton County Trac. Co.*100,000 Key West Electric Co
a287,S00
Columbus Elec. Co
a 115.000 Key
West Electric Co
*374,100
El Paso Elec. Co
*525,000
*
a Preferred stock,
b Capital stock.
(except the Blackstone Valley Gas
Houghton Co. Elec. Light Co.) on subsequent pages.
Dividends.—On pref. 13$% quar. since Aug. 1909 to and InciudingNov,
1920
On com., 1st div.—1 \i%-~Feb. 1 1910; Aug.. 1H%.
In 1911,
3%.
In 1912, 3^%.
In 1913 and 1914. 4%.
In 1915. Feb.. 2%.
None since.
Common stock,
See
statements
of these companies
& Elec. Co. and the
INCOME.—Years ending Dec. 31:
Total
Expenses
Year—
Income
& Taxes.
Calendar
1919-
-
1918---
-
-
$216,579
198.029
184,145
Pref. Divs.
(6%)
$150,000
$8,859
10,077
9,096
150,000
150,000
Surplus or
Deficit.
sur.$57,719
sur. 37,952
sur. 25,019
RR.
1917--.
2.08
DIRECTORS.—Henry G
Bradlee,
Russell Robb. Chas. A
Stone.
V. 95, p. Ill; V. 97, p. 119, 1289,
Edwin 8. Webster, E. J. B. Hantoon
1734; V. 101, p. 292.
miles
of
main
Leased
track
to
th«
Lynn & Boston (subsequently the Bay State St. Ry., now the Eastern Mass.
St. Ry.) for 999 years from 1880 at $3,000 per annum.
Capital stock
is $50,000; par $50.
NEWPORT
Date.
STOCK AND BONDS—
3took, com ($100)
$2,025,000 Dec' 17, IH
Pref. $457,200 ($100) 6% cum
M-S
457.200 Sepfl8. 3%
Bost & Wor 1st mortgage, 52,-1 1903
4K g F-A
2,460,000 Aug 11923
500.000, gold ($l,000)c*tf fInterest at American Trust Co., Bos., Trus.
Fraro So & Marl 1st mtg «tf j
7%
60.000 Jan
1 1922
1 Interest at American Tn&t Co., Bos., Trus.
(a)
to
now
1917
minimum
Years—Revenue.
483,225
1
On
419,839 defl83,193
$52,668
On Oct.
a schedule based
rate of 2 cents a mile with a minimum of 6 cents for a single fare.
V.
---
Gross income.
13
BRATTLEBORO,
CORP.
VT.
TWIN STATE OAS & ELECTRIC CO-
ORGANIZATION.—Form.'rly known as the Newport & Fall River
St. Ry, but nam j changed to present title in 1920.
Organized by special
Act on Feb. 23 1898.
July 1 1900 consolidated with Newport St. Ry. Has
also consolidated with Newport Illuminating Co.
Embraces 21.74 m. of
m ;in track in and between Newport and Fall River; also electric lighting.
"Was leased on July 1 1901 for 99 yrs. to the Old Colony St. Ry., since
merged in the Boston & Northern, subsequently known as the Bay State St.
Ry. for a rental of 6% per annum on the stock and int. on bonds.
In 1920
this leasehold (modified
was acquired by the Newport County Electric
Salmon Falls, Roliinsford, Somersworth. Berlin, Milam, Gorhamt and Hins¬
Co., which is now operating the road.
V. Ill, p. 1661.
Dividends due July 1 1920 on the co.'s'capital stock as rental under the
term; of the lease were not paid when due.
The co's $240,000 1st mtge. 5% bonds which matured on Aug. 1 1918
dale, N. H.; St. Johnsbury, St. Johnsbury Center, Passuthpsic, Danville,
West Danville, North Bennington, Bennington Centre. West Brattleboro
and Newfane, Vt.; Berwick. North Berwick, South Berwick and Lebanon.
Me., and Hoosick Falls,
N
Y
and operates the Brattlmbmro St.
Ry
were
purchased for the account of the receiver of Bay State Street Ry,
STOCK. BONDS. ETC.—
Date.
Interest.
Maturity
Stock. $3,050,000,
par $100
J-J
$1,050,000
See text
Consol mortgage. $2.000.000,1 1904
4>£ J-J
696,000 July 1 1954
gold ($1,000)
c*&rtf/lnt. at Am. Trust Co.. Boston, Trustee.
6g
63,500 Oct
1 1925
Newport Illuminating Co 2dl
mortgage, gold
tf /Central Trust Co., New York. Trustee.
Bonds.— Remaining consol. mtge. bonds are reserved to retire prior liens
Not redeemable.
V. 79. p. 213, 501, 1462; V. 110. p. 1526; V. Ill, p. 1661.
Outstanding.
ORGANIZATION*—Incorporated In Connecticut
&
WORCESTER ELECTRIC COMPANIES.
ORGANIZATION.—This is
voluntary association organized under a
Its property consists of the en¬
tire
stock, 5181,200 First Mortgage
bonds and $270,000 "notes payable" of the Boston & Worcester Street
Ry.
It has issued 33,936 4% cumulative pref. shares and 34,614 common
shares, no par value, and $190,000 "notes payable." In case of liquidation
crust
a
agreement dated Dec. 29 1902.
common
stock. $60,000 preferred
Aug. 26 1906 and
iquired the St. Johnsbury
Electric Co. and in April 1914 the Cascade Lt. & Power Co. and the Berlin
Co.
Furnishes gas, electric light and nower to Dover, N. H., and
Elec.
Bennington and Brattleboro, Vt.; also electric light and power to Rochester,
.
In June 1920 the
Cloutman Gas &
reported to have acquired the property of the
at Farmington, N. H.
V. 110, p. 2658.
Pres., Samuel Xnsull, in a letter dated Mar. 25 1916, said, "all the principal
franchises were granted by the State Legislature and have been construed by
counsel as perpetual."
Control Is held by the National Light, Heat <fc
Power Co., control of which wa* in tarn acquired by the Middle West CtHlties Co
in Oct
In Jan.
impts V.
co.
was
Elec.
1912
V
Co.
05
1.
17SO
1920 issued $250,000 7%
secured notes to pay for addn's and
110, p. 659.
STOCK AND BONDS—
BOSTON
on
Date
Interest
Outstanding
Maturity
($100)
$1,250,000
Pref(5%cum)$2,500.000 ($100:
5 Q-M
1.552.500
July *20 t%
Prior lien (7% cum) $1,000,000
7 Q-J
112,900
1st & ref M $10,000,000 gold I 1913
5 g A-0
2.350.800
Oct 1 1953
($1,000, $500 & $l(K))c*cc>t (Guaranty Trust Co.. N-. Y.. Trustee.
Jst ref M, $1,500,000 g'$5001
1906
4^ A-O
794.000 Oct 1
1926
&
$1.000)
e*ttflnt at Columbia Trust Co.
^
v
Trusts
General mortgage $2,500,000
6%
198,400 May 1 1953
Debentures
6%
150,000
Common, $2,500,000
...
..
..
,
......
-
Jref. 1905 receive $100 each before Exchange. Stock of common. In
shares listed
Boston Stock the participation
increased to
an.
was
was
on
present amount by the issue in July 1906 of 6,000 shares common and 6,000
pref., which was offered to shareholders at $105 for a block of one pre¬
ferred plus one common share.
REPORT.—For years
ending Dec. 31:
Total
Income.
Divs. on
Year—B.&W.Stk.
Other
Income.
None
$24,067
$24,067
3,600
18,689
22,289
Cat.
1919
1918
.
_
Coll tr. notes $500,000
1918
7 g J-D 1
470,200 June 1 1921
$500 & $1,000) g. c*
tf (Int. at Met. Trust Co., N. Y., Trustee.
Secured notes $250,000 ($100 J
1919
7 g J-D 1
250,000 Dec. 1 1922
($100./
$500& $1,000) g. c*
.tfjlnt. at Met. Trust Co.. N. Y., Trustee.
Gas Light con mort i
1905
5
95.000 s«pi 1 1925
gage. $500,000
tf (Union Safe Uep <k Trust Co.. Trustee,
Brattleboro Gas L Co mtg-ntf 1903
5
63.000 Fet>
2 1923
Dover
Preferred Expenses
Surplus
Dividends.
h Taxes, or Deficit
None
$12,337
sur.$11,729
None
8,996
sur.
13,293
Hooeick
Falls IJlumlnat'g Col
$150.000
--------
tf (Columbia TrustCo..
7L009
N. \..
1936
Trustee.
14
ELECTRIC
STOCK AND BONDS—
Dale.
fiooeick
Falls
Electric
Col
Interest.
Outstanding.
Maturity.
65,000
1930
$75,000..
tf/Old Colony Trust Co., Boston, Trustee.
Bennington Water Power &\
64,000
1923
A Light Co $100,000
n ti l American Loan & Trust Co., Trustee.
Bennington Elect Co $175.-1
.<
80,500
1935
000
;
tf [Columbia Trust Co., N. Y„ Trustee.
8t
Johnsbury El Co 1st M—tf 1909 5 M-S
80.000 Mar 1 1929
Cascade Light & Power Co... 1905
38,000 April 1 1925
Cascade
Electric
Light &I 1921
11,000
Apr 1 1921
Power Co...
./Union Safe Deposit & Trust Co., Trustee.
Stock.—The prior lien 7%
stock is red, all or in part on July 1
3921 at 104, 1922 at 103 and 1923 or thereafter at 101X and divs.
Has
equal voting power with both pref. and com. stock if any div. remains
unpaid for one year.
Is prior in lien both as to assets and earnings to the
5% pref. stock and the com. stock.
V. 109, p. 79.
Bonds.—$1,300,000 1st A ret. 5s are reserved to retire underlying bonds.
Additional bonds may be issued for Impts. and acquisitions at 80% of cost,
provided net earns, are at least 1X times the int. charges on all bonds out¬
standing, lnci. those to be certified.
1st & ref. 5s are red. on or after Oct. 1
1923 at 105 and int.
A depreciation reserve fund of 5% of gross earns,
began Dec. 31 1918. V. 102, p. 1988.
Note*.—The notes of 1918 are a direct obligation of the co. and are
secured by pledge of 1st & Ref. Mtge. 5s and gen. mtge. 6s In the ratio of
133 1-3%.
Red., all or in part, at 100 and int. at any time on 30 days'
notice.
The notes of 1919 are secured by a pledge of 1st & Ref. M. 5s in
the ratio of 120%.
Red. all or in part at 100 and int. any time upon 30
days* notice V. 110, p. 659.
,
Dividends.—5% yearly has been paid regularly on pref. stock since 1907,
EARNINGS.—For cal. year 1919, gross, 8867,579; net, after taxes,
$316,403; bond, int., $156,276; balance surp,,.$160,127.
|
ROAD, &c.—Operates 5 miles of track iu Brattieboro.
Owns hydro¬
electric plants at Gorham, Brattieboro, Bennington, St. Johnsbury and
Hoosick Falls and a steam turbine plant at Dover.
—
.......
.......
...
198
OFFICERS—Pres., Samuel Instill; Vv-Pr., H.J. Shaw; Sec., H. L. Harris;
Treas., C. A. Forrest.
716, 1037, 1127; Y. 109,
Gen.
p.
offices,
79; V. 110,
Boston,
Mass.—V.
79, 659, 2658.
106, p.
608,
p.
*
BRISTOL,
CONN.
V
\
THE BRISTOL & PLAINVILLE TRAMWAY CO.
ORGANIZATION.—lncorp. Sept. 21 1893 in Conn.
Franchises per¬
petual. Road first opened Aug. 12 1895; merged with Bristol Elec. Lt*. Co.
Mar. 31 1897; steam heating plant installed in 1902; Terryville branch
opened in 1903, Woodland St. branch opened In 1906; gas plant installed
In 1906; underground system Installed In 1916.
In addition to railway
service, furnishes electric light and power in Bristol, Forestville and Terry¬
ville; gas in Bristol, Forestville and Plainville, and steam heat in Bristol.
In August 1908 a stock dividend of 50% was declared, increasing out
standing amount to $375,000.
V. 87, p. 96. 414.
In Oct. 1914 stock was increased from $375,000 to $562,500. new stock
being issued May 1 1915.
In Oct. 1910 stock was further increased to
$018,800, and stockholders were offered the right to subscribe Tor new
stock pro rata at par.
V. 103, p. 1687.
STOCK AND BONDS—
Date,
Interest.
Outstanding.
Maturity
Stock. $1,000,000 <f 100)
Q-F
$825,000 Aug. '20.2&
1st mortgage $600,000, gold/ 1905
4*4gM-N
540,000 Nov 1 1946
($500 & $1,000)
ntfjInterest at Bristol National Bank, Bristol'
Subject to call at par
I Treasurer of State of Connecticut, Trustee
Dividends.—In 1899 to 1909. incl., 6% per annum; 1910, 7%; 1911 to
a'
I* 1920, Feb.
2^%; May. 2H%; Aug. 2^%.
EARNINGS.—For cal. years.
—
Railway
Railway
Miscel.
Interest
Year—
Gross.
Net.
Net.
St Taxes.
Dividends. Surplus
1919—-$187,723
$35,817
$89,094
$58,611
$51,696
$14,604
151.748
43,186
90,315
64,744
49,502
19.252
ROAD, Ac.—Operates 13.74 miles of track laid with 56,60 and 72-lb.
T-rail connecting Bristol with Forestville, Plainville, Lake Compounce and
Terryville.
Standard gauge, 34 cars, 3 snow plows and 1 work car.
OFFICERS.—Chairman of board, Ohas. EL. Tenney; Pres., A. B. Tenney; V.-P., D. E. Manson; Sec.-Treas., Morris L. Tiffany, Bristol, Conn.,
Asst. Treas., E. A. Bradley.
General Managers, Ohas. H. Tenney & Co.;
Boston, Mass.—V. 98, p. 154, 1535 V. 103, p. 1687; V. 110, p. 359.
BRISTOL^
TENN.
BRISTOL TRACTION CO.
In Aug. 1919, B. L. Dulaney, former President of the road, informed us
that all the rails of the co. had been taken up and disposed of and the co.
liquidated. For history
see
"Electric Railway Supplement" March 29 1919.
[Vol. 110.
RAILWAYS
The certificates of the Municipal and Consolidated Cos. are superior in
lien to (a) the $57,735,000 Municipal Ry. Corp. 1st 5s (pledged under
B. R. T. notes); (6) the mortgage given by the N. Y. Consol. RR. Co. to
secure its guaranty of said bonds; (c) $14,344,975 N. Y. Consol. RR. Cert,
of Indebtedness No. 1, but is inferior in lien to the First Mtges. of Kings
County Elevated RR. of 1899 and Brooklyn Union Elevated RR. of 1899.
The
proceeds of the B. R. T. certifs. will be used (1) to enable the receiver
of N. Y. Municipal Ry. Corp. to carry out the obligations under the subway
contracts with the City of New York, to which purpose the proceeds of not
less than $13,000,000 and not more than $15,000,000 of certifs. will he
allocated, and (2) to enable the receiver of B. R. T. to complete the power
house ana other
new
rapid
impts. to be used in connection with the operation of the
transit lines.
The proceeds of the certifs. allocated to the
purposes of N Y. Municipal Ry. Corp. will be invested in the joint certifs.
of the receiver of that co. and of N. Y. Consol. RR. Co., which in turn
will be pledged to secure the certifs. of the receiver of B. R. T.
For the
security behind these receiver's certifs. we refer the reader to V. 109, p
675, 774, where a description of these certifs. in detail will also be found.
Power Bills of Nassau Elec. RR. First Lien against That Property.—V. 109,
p. 1179.
See also V. 109, p. 1272.
Preliminary Report of Receiver Presented Jan. 15 19.—See V 108,p 263,373.
Digest of Reports to Court by Stone & Webster.—V. 109, p. 2071.
Compare
preliminary report in V. 109, p. 1079.
As a result of the appointment of a receiver ana the default in the pay¬
ment of interest due Jan. 1 1919 on the $57,230,000 B. R. T. 3-year 7%
secured notes due July 1921 and on the $505,000 B. R. T. 6-year 5% se¬
cured notes due July 1 1918 and the default In thepayment of interest and
sinking fund on the $2,265,000 N. Y. Municipal Ry. Corp. 1st mtge. 5%
sinking fund bonds, Series A. due Jan. 1 1966, the following committee
was formed to protect the holders of the aforesaid issues: Kuhn, Loeb &
Co. and Kidder, Peabody & Co.; Sec., Chas. E. Sigler, 54 Wall St., N. Y.
City.
Depositary: Central Union Trust Co., 54 Wall St., N. Y. City.
V. 108, p. 76.
The Central Union Trust Co. was originally a member of
this committee but resigned because of possible conflict with its duties as
Trustee of the 1st & ref. mtge. of the B. K. T.
V. 109, p. 2073.
In Nov.
1919 about $30,000,000 of the 3-yr. notes had been deposited with the com¬
mittee which, together with the $16,544,700 of that issue held by the War
Finance Corp., which has been co-operating with the committee constitute
over 80%
of the entire amount outstanding.
A majority of the N. Y.
Municipal ref. 1st mtge. bonds had also been deposited with the committee
up to Nov. 1919.
For statement by committee see V. 109, p. 2073.
Stockholders'
Committee.—Albert H. Wiggin. Chairman; Charles A.
Boody, Frederick H. Eckerv Seward Prosser, Galen L. Stone, Frederick
Strauss, E. B. Sweezy and Chellis A. Austin, Sec., 115 Broadway, N. Y.
City.
Depositaries: Mercantile Trust & Deposit Co., N. Y. City, and
Peoples Trust Co.; Brooklyn, N. Y.
V. 108, p. 76.
Deposits have beeiji
called for.
V. 10&, p. 377, 1164.
^
'
.
■
Tort Creditor's Committee.—Chairman. Samuel Seabury; John V. Bouvier.
Jr.. Robert H. Ernest and Chas. Steckler.
V. 108, p. 2240.
.
,
Tr
t
.
Default—Committees, Stc.—Default having occurred in the payment of
1919 on the co's. 50-yr. 5% bonds dated Oct. 1 1895
formed:
Committee for B. R. T. 50-yr. 5s.—Chairman, Alvin W. Krech; Julian D.
Fairchild, Ogden Mills; Sec., Henry P. Nash, 37 Wall St., N. Y.. City;
Depositaries: Equitable Trust Co., N. Y., and Kings County Trust Co.,
Bklyn., N. Y.
Deposits have been called for.
V. 109, p. 72, 1366.
The July 1 1919 Int. on the following issues having been defaulted the
committee named below was formed to protect the interests of the holders:
Coney Island & Bklyn. RR. 1st Cons. M. 50-yr. 4s of 1898__—$1,987,000
Consol. Mtge. 4% 50-yr. gold bonds, dated Dec. 15 1904
2,125,000
Bklyn. City & Newtown RR. Co. Consol. 1st M. 5s of 1899
1,933,000
Committee.—A. E. Horr, David H. Lanman, J. H. Walbridge; Sec.,
O. H. Thirkield.
Depositary: Brooklyn Trust Co.
Deposits have Deen
called for V. 109., p. 1461.
The July 1 1919 int. also on the following issues was not met, but except
in the case of the B. R. T. Ref. 4s, tjhe delay was temporary, the int. on
the two other issues being paid July 9 1919.
the int. due April 1
the following protective committee was
Amount Held
by Public.
Brooklyn Rapid Transit 1st Ref. M. 4s of 1902
Jamaica & Brooklyn RR. 1st M. 5s of 1889---Atlantic Aye. RR. Improvement M. 5s of 1894-Committee for B. R.
-$3,439,000
-
232,000
220.000
T. 1st Ref. 4s.—Chairman, Walter. E. Frew; W.
E«
Edmister, Edward C. Dejafield, Stephen Baker, Henry C. Phipps; Secy.,
Fredk. K. Lister, 13 William St., N. Y. City.
Depositary: Franklin
Trust Co., Brooklyn and N. Y.
V. 109, p. 1792.
The Int. due July 1 1919 on the N assau Electric R, R. Cons. 4s having
been defaulted the following committee was formed:
Committee for Nassau
Elec. RR. Cons. Mtge. 4s.—-E. P. Maynard, A. A.
Jackson, Eion R. Brown, Haley Fiske. C. A. Peabody, Beekman Winthrop;
BROOKLYN, N/Y.
BROOKLYN RAPID TRANSIT,
Receivership.—On Dec. 31 1918 Federal Judge Julius M. Mayer in the
U. S. District Court appointed Lindley M. Garrison (former
Secretary of
WatTtemporary
V. 108,
Consol.
p.
receiver (on Jan.
15 1919 made permanent receiver,
267) of the New York Municipal RR. Corp. and the New York
Corp., subsidiaries of the co.—see below-—upon application
RR.
2?estinghouse Elec. & Mfg. Co., holders of claims
aggregating
$46,462 for materials and supplies furnished the company.
The receiver¬
necessary because of the company's inability to meet interest
due Jan. 1 1919 on $57,735,000 of 7% ana 5% notes and also obtain fresh
capital for necessary new construction and improvements.
V. 108, p. 76.
On Jan. 6 1919 Judge Edwin Louis Garvin in the U. S. District Court
denied the application of a stockholder to have an
ancillary receiver ap¬
pointed.
V. 108, p. 170.
On Jan. 15 1919 Judge Julius M. Mayer in the
ship became
U. S. District Court denied the
application of the city for the appointment
of a co-receiver.
V. 108, p. 267.
On July 14 1919 the receivership was
extended to the Brooklyn Heights RR., Brooklyn,
Queens County & Su¬
Nassau Electric RR. and Coney Island & Bklyn RR., which
embrace the surface lines in Brooklyn,
thus bringing the
whole system under the jurisdiction of Receiver Garrison.
On Aug. 26
1919 the receivership of the surface lines was made permanent.
The
burban RP
,
companies
extension of the
receivership was made on the petition of the Central Union
Trust Co., N. Y., in its suit brought to foreclose the B. R. T. 1st & Ref.
M. 4s of 1902, the Jan. and July 1 1919interest on which has been defaulted.
For further particulars see V. 109, p. 269.
Receiver's Certificates.—On Jan. 22 1919 the receiver
applied to the
United States District Court for authority "to borrow
upon the credit
of the receivership estate the requisite amount of
money ($16,859,357—Ed.]
to be employed for the objects and
purposes herein set forth [see V. 108, p.
to issue receiver's certificates in order to
procure the said funds, in such an amount, in such denominations and
series, maturing at such times, bearing such rate of interest, and secured
by such lien or liens as to the Court may seem best."
Of the $16,859,357
applied for the receiver was authorized to raise immediately $3,000,000.
the court authorizing hini to use as collateral the Ref. bonds in the
company's
treasury; the remainder, it was understood, would be required within 12 or
15 months.
The purposes to which the $16,859,357 was to be devoted were
377—Ed. 1
and
"if necessary,
forth in full in W 108, p. 377, 478.
On May 29 1919 Judge Mayer
in the U. S. Dist. Court auth. the receiver to issue
$26,000,000 of receiver's
certificates.
V. 108, p. 2240.
Compare V. 108, p. 2020, 2122.
The
Central Union Trust Co. filed an appeal from this order
(V. 108, p. 2329)
July 3 1919 it was affirmed by the U. S. Circuit Court of Appeals.
however, modified the order which made the certificates a lien
superior to that of the 1st Ref. M. by maintaining that mortgage unim¬
paired.
V. 109, p. 72, 476.
On Aug. 12 1919 Judge Mayer auth. the
receiver to sell at 95 and Int. $18,000,000 of B. R. T. receiver's certificates.
but
on
The Court,
The decree
impounds 70% of the earnings of the B. R. T., N. Y. Municipal
By. Corp. and N. Y. Consol. RR. to provide for payment of prin. and int.
of these certificates.
At least $13,000,000 of the proceeds are to be used to
purchase that amount of the certifs. of indebtedness of the receiver's of the
two last named companies, which certifs. are to be pledged as
part security
for the B. R. T. issue of receiver's certifs.
The B. R. T. certifs. are to be
as Series A and are red. at par and int. on
any int. date on and
known
after Feb.
1
1920 upon 30 days' notice.
The total auth. amount of this
series having the same security is $20,000,000.
Beyond this amount any
further issues of B. R. T. receiver's certifs. must either be subordinate in
lien to the $20,000,000 issue or must be secured on different
property.
The B. R. T. receiver's certifs. are superior in lien to (a) B. R. T. mtge. of
Oct. 1 1895 as to any- property in receiver's hands; and to (6) B. R. T.
Consol. & Ref. M. of June 1 1918 (securing $29,000,000 bonds
pledged to
secure B. R. T. notes) and are inferior in lien to
(a) B. R. T. 1st Ref. M.
of 1902 ($10,000,000 of bonds secured by which are pledged for B. R. T.
notes) as to any property in receiver's hands; (b) Transit Development Co.
certifs. of indebtedness of 1907 and indenture of July 24 1918.
Sec., Austin W. Penchoen, 177Montague St., Bklyn., N, Y.
Depositaries:
Brooklyn Trust Co.. Brooklyn, N. Y.. and Girard Trust Co.. Phila.
V. 109, P- 173.
Deposits have been called for.
V. 109, p. 1462, 1987.
The July 1 1919 and Jan. 1 1920 int. on the
1st M. 5% bonds of the
Brooklyn Queens County & Suburban R. R., due 1941, having been de¬
faulted the following protective committee was formed:
Committee for Brooklyn Queens County St Suburban 1st M. 5s:—Charles
A. Peabody, Alexander J. Hemphill, Ellis W. Gladwin; Sec., Fredk. S.
Stevenson, 55 Cedar St., N. Y. City.
Depositary: Guaranty Trust Co.,
N. Y. City.
V. 110, p. 261.
The Nov. 1 1919 int. on the Brooklyn Queens County & Suburban R. R.
1st Cons. M. 5s, due 1941, having been defaulted the following protective
committee was formed:
■
.
.
_
Brooklyn Queens County St Sub. 1st Cons. 5s.—Haley Fiske,
William K. Dick, Willis McDonald;
Secy., Austin Penchoen, 177 Montague St., Brooklyn, N. Y.
Depositary:
Brooklyn Trust Co., N. Y. City and Brooklyn, N. Y.
V. 109, p. 1986.
Surface Lines Returned, Stc.—The rental due by the Brooklyn Heights
R. R. Co. to the Brooklyn City R. R. Co. on Oct. 1 1919 was not paid
and as a result the 26 surface lines owned by the latter and leased to the
former were turned back to the Brooklyn City R. R. for separate operation
at midnight .Oct.
18 1919.
H. Hobart Porter was elected Gen. Mgr.
and George W. Jones, Auditor, of the Brooklyn City R. R.
V. 109, p.
1527, 1600, 1792.
The Brooklyn City R. R. has no power houses of its
own but has a contract with Receiver Garrison by which it is supplied with
Committee for
Elon R. Brown, Chauncey M. Depew,
power.
The Brooklyn Heights RR. defaulted in the payment of the third in¬
stallment of the Federal income tax (for 1918) of the Brooklyn City RR.
Co., amounting to $46,034.
The Brooklyn Heights RR. Co. under the
terms of the lease should have paid this tax as part of the agreed rentals.
The Brooklyn City RR. paid this installment in order to avoid the penalties
prescribed by law.
V. 109, p. 1272.
Owing to the non-payment of rental
due Oct. 1 1919 by the Brooklyn Heights RR. Co. the div. due at that time
on the $12,000,000 stock of the Brooklyn City RR. was passed.
No action
was taken on the Jan. 1920 dividend.
V. 110, p. 166.
Int. on outstand¬
ing bonds, however, is being paid.
V. 110, p. 359.
Discontinuance of Unprofitable Lines.—On Oct. 16 1920 Judge Mayer
in the U. 8. Dist. Court auth. the receiver to discontinue the following
lines, all of which failed to earn their operating expenses (exclusive of taxes)
for the 9 mos. ending July 1920:
Church Ave., Rogers Ave., Ocean Ave.,
Park Ave., 7th Ave., 39th St.-Coney Island, owned by the Nassau Electric
RR., and the Metropolitan Ave., Wyckoff Ave. and Ralph Ave. shuttle
lines, owned by the Brooklyn, Queens County & Suburban RR.
For
further particulars see V. Ill, t>. 1660.
Foreclosure Proceedings.—Proceedings have been wsututeu u> loreuiose
the B. R. T. consol & Ref. Mtge. and also the mortgage securing the
$60,000,000 bonds of the N. Y. Municipal Ry. Corp., all the $29,000,000
of the former and $57,735,000 of the latter being deposited as collateral for
the B. R. T. secured notes.
V. 108. p. 877.
On July 30 1919 the Equit¬
able Trust Co. instituted foreclosure proceedings in the N. Y. Federal Court
because of the co's. failure to pay the int. due April 1 1919 on its $7,000,000
50-yr. 5% bonds dated Oct. 1 1895.
V. 109, p. 476.
On Aug. 26 1919
Judge Mayer ordered the consolidation of the foreclosure and general
creditors' suits against the B. R. T. and its subsidiaries.
V. 109, p. 887.
On March 6 1919 Judge
Mayer at the request of the receiver, revoked
a previous order authorizing the payment of int. on $3,850,000 current
bonded indebtedness, it having been ascertained that said int. would aggre¬
gate $154,000 instead of $40,000.
V. 108. p. 972.
On Feb. 15 1919 Judge Mayer in the U. S. District Court at New York
auth. the receiver to accept the award of the Board of Appraisers of the
War Department of $1,428,063 for certain dock property owned by the
N. Y. Consol. RR.
$659,000 of this sum was applied to the payment of
prin. and int. (in March 1919) of the 1st Mtge. bonds of the 8ea Beach Ry.
Co., all of which were owned by the Brooklyn Rapid Transit Co.
Compare
V. 108, p. 783.
OCT..
1920.J
ELECTRIC RAILWAYS
ORGANIZATION.—Organized Jan. 17 1890, per _plaa In "Chronicle.* 1
V. 60, p. 1145, to succeed to the property of the old
Long Island Traction
Company, foreclosed, a syndicate headed by the late ex-Governor Flower
having then bought control.
Is not
a
railroad corporation, but was or¬
ganized under the Business Corporation law of New York to hold the stocks
and bonds of railroad companies and to aid In the construction and eauloment of railroads.
On June 7 1917 Gov. Whitman signed the Thompson
bill, making possible the consolidation of the holding company and its
various subsidiaries Into a single public utility corporation.
V. 104, p.2342.
A88ET8.—The following Is a statement of the stocks and bonds
controlled by the Brooklyn Rapid Transit system Dec. 31
J.919.
or
Stocks.
owne^
I
Entire capital stock Brooklyn Heights RR. Co. (par)
Entire capital stock Bkln. Q'ns Co. & Suburban RR. Co. (par).
Entire com. stock of the Nassau Electric RR. Co., par
63,947.75 shares out of 65.000 shares of the 4% cumulative pref.
stock of Nassau Elec. RR. Co., par
47,859.85 shares out of 50,000 shares of the 5% non-cumulative
pref. stock of the New York Consolidated RR. Co..
$200,000
2,000,000
8,500,000
6,394,775
par-...
4.785.985
134.308.31 shares out of 139,000 shares of the common stock
of the New York Consolidated RR. Co., par
Entire stock of Coney Island A Graveeend Ry. Co., par
13,430.831
350,000
_
648.406 shares of Brooklyn Rapid Transit Co., par
Entire capital stock of South Brooklyn Ry. .par
9.800 shares out of 10,000 of the American Railway Traffic Co.
500 shares of the Bridge Operating Co., par
I
2,000 shares of N. Y. Municipal Corp., par
1,000 shares out of 1,000 shares of N. Y. A Coney Isl. RR .Co
500 shares out of 500 shares Pros. Park & South Bklyn. RR. Co.
26,865 shares out of 29,839 shares Con. Isl. & Bklyn. RR..
500 shares Bklyn. A North River RR. Co
100 shares DeKalb Ave. & No. Bklyn. RR. Co....
25 shares Coney Island A Brooklyn Terminal Co
100 shares B'way Subway A Home Bor. Car Adv. Co
27 shares Prospect Park and Coney Island RR, Co.
-
...
64,841
500.000
50,000
200,060
100,000
50.000
2,686,500
50.000
10.000
2,500
10,000
2,700
Bonds.
310,368,132
•1st M 5% bonds Bklyn. Queens Co. A Sub. RR. (par)
$2,000,000
1st con M Bklyn. Q'ns Co. A Sub.(owned by Bklyn. H'ts Co.)..
50,000
•1st mortgage 5% bonds Brookiyri City RR. (par)
1,627,000
•Refunding gold mtge. 4%, Brooklyn City RR...
•Gold 5% bonds Brooklyn Rapid Transit
......
Ref mtg 4% bonds Brooklyn Rapid Transit Co
Ref mtg 4% bonds B. R. T. (owned by Nassau El. RR.)
Consol mtg 4% bonds Nassau Elec KB
...
Jamaica A Brooklyn mtge. bonds 5%
N. Y. Municipal Ry. Corporation 5%
Coney Island A Brooklyn first consol. mortgage 4%
Coney Island A Brooklyn consol. mortgage 4%
Brooklyn City A Newtown mortgage 5%
;
...
925,000
30,000
22,421
1,761.000
1,161.000
8.000
57,775,000
13,000
732,000
7.000
$88,510,000
C. A Sub. RR. 1st 5s and $1,627,000 Brooklyn
City RR. 1st 5s; alrfo $125,000 out of the $925,000 B. C. RR. ref. 4s held,
and $25,000 out of the $30,000 B. R. T. gold 5s and $250,000 B. R. T. ref.
mtge. 4s held, compose guaranty fund for performance of Brooklyn City
♦The $2,000,000 of B. Q.
RR. Co.'s lease.
.
Subways and Extensions.—An agreement was reached In May 1912
subway system In lower Manhattan
should be apportioned between the Interborough and Bklyn. Rapid Transit,
and the Court of Appeals at Albany having on June 29 1912 affirmed the
decision of Justice Blackmar (V. 94. p. 1057) holding to be constitutional
the terms of the .proposed contracts with the Interborough and B. R. T.,
formal contracts were drawn up by the P. S. Comm. and were signed on
Mar. 19 1913.
V. 96, p. 862.
See caption "Rapid Transit In New York
City" In V. 94. p. 1384, 1449. 1566; V. 95, p. 48, 111, 237, 1040: V. 96,
New
to how the routes of the new dual
as
ointly by
J>. 63, 136,the Brooklyn Rapid Transitsubway lines, built and to be built
488, 716, 864. The new and the city, are as follows:
(a) Subway line traversing the Borough of Manhattan from the Battery
to 59th St., mostly on Broadway and connecting by tunnel undei the East
River with subway lines in Brooklyn, with rights over the Brooklyn, Man¬
hattan, Williamsburg and Queensboro bridges.
The Boaid of Estimate in
July 1915 decided to make the connection with the Queens lines by tunnel
Under the river instead of over the Queensboro Bridge, Com. V. 101, p. 1554.
Contract for tunnel awarded in Sept.
1916 (V. 103, p. 1033) was completed
Aug. 1 1920.
V. Ill, p. 588.
Operation of the new Broadway Subway
union Square, Manhattan, to Coney Island via the Canal Street
subway and Fourth Avenue subway, Brooklyn, was begun on Sept. 4
1917.
V. 105, p. 998, 1616.
Operation of the Broadway Subway in
Manhattan from Times Square to Rector Street was begun Jan. 6 1918
(V. 106, p. 188) was extended from Times Square to 57th Street and
7th Avenue on July 9 1919 (V. 109, p. 174) and to Lexington Avenue and
60th Street on Sept. 1 1919 (V. 109, p. 982).
On Aug. 1 1920 the tunnel
connecting this line with Montague St., Brooklyn, was completed and put
into operation.
Y. Ill, p. 588.
(b) Centre St. loop, connecting the different bridges and extended through
Nassau and Broad Sts., Manhattan, to a connection with the lower East
River tunnel and the 4th Ave. subway in Brooklyn, with extensions to
86th St. and Coney Island.
Two tracks in the Centre St. loop were placed
in operation Aug. 4 1913 (V. 97, p. 297) and the other two were placed in
operation from time to time during the year 1914-15.
The reconstructed
on
from
Sea Beach line waa
placed in operation May 1 1915 from Sixty-first Street
to Coney Island.
The Fourth Avenue Subway was
formally opened
June 22 1915 to Sixty-fifth Street.
The extension
to 86th St. was placed In operation Jan. 15 1916.
On June 24 1916 the
New Utrecht Ave elevated branch of the Fourth Ave. subway was placed
In operation as far as 62d St.; on July 29 1916 line was extended to 25th
Ave. and to Coney Island connection on July 21 1917.
Since early in
1918 trains over both the West End and the Sea Beach lines are run from
Times Square at 42d St. (on Sept. 1 1919 this service was extended to
Lexington Ave. and 60th St.) all the way to Coney Island.
(c) Subway line extending from 6th Ave. and 14th St., Manhattan,
across Manhattan, under the East River, to North 7th St., Brooklyn, and
thence part subway and nart elevated through the Eastern District by Met¬
ropolitan, Bushwick, Johnson and Wyckoff Aves. to join the Cypress Hills
line.
Contract for tunnel
under East River was signed Feb. 29 1916.
Construction is expected, to be completed late in 1921.
V. 109, p. 2439.
(d) Subway line in Brooklyn connecting Manhattan Bridge with the
Brighton Beach RR.
Completed and put in operation on Aug. 1 1920.
and Third
V.
Avenue
ill, P. 588.
addition to the above, the co. agreed to build several extensions
as third track and make additions and Improvements to its then
existing lines, most of which work has already been completed.
See
V. 105, p. 399; V. 107, p. 703; also under "Rapid Transit in New York," In
V. 104, p. 257; V. 106, p. 87, 296, 1462; V. 107, p. 2477.
The cost of con¬
struction to the city of lines In the Dual Rapid Transit System under con¬
tracts Nos. 3 and 4 (including both the Interboro and B. R. T. sec¬
tions), now under construction, was originally estimated at $164,294,079
(not incl. allowances for the expenses of the P. S. Comm.), and the total
cost of construction and equipment to the B. R. T. at $65,000,000. but
because of additions to the work and increased costs due largely to war
conditions these amounts are being exceeded.
The total cost of the whole
undertaking was estimated at $330,000,000 but is now expected to run up
to about $400,000,000.
On the B. R. T. system about 117 miles Of new
track had been added up to Jan. 1920 to the 119 miles in operation in
1913.
See under "Rapid Transit In N. Y." in V. 106. p. 296, 1345, 1795.
As of June 30 1919, the N. Y. Munic. Ry. Corp. had expended in contribu¬
tion to city-owned lines $11,162,363 on account of equip, of city-owned lines,
$12,791,309, and for add'ns, extens. A tmpts. of existing lines, $38,841,399,
a
total of $62,795,071.
The third track on the Fulton St. line between
Manhattan Jet. and Nostrand Ave. was placed in operation Dec. 27 1915.
On Dec. 23 1916 the entire third-tracking of the Broadway Elevated was
placed in operation between Marcy Ave. and Manhattan Jet.
Operation
of the Liberty Ave. elevated extension was begun Sept. 25 1915.
On May
27 1917 the elevated extension to Jamaica was placed in operation between
In
as
well
Cypress Hills and Richmond Hill.
Operation of the Metropolitan Ave.
trolley line extending from Dry Harbor Road. Queens, to Jamaica Ave.,
was begun Sept. 25 1917.
On July 2 1918 operation of the Jamaica Ave,
elevated line from Greenwood Ave. to the terminus in Jamaica was begun.
The new Culver rapid transit line was put into operation as far as Kings
Highway on March 16 1919, and to Ave. X on May 10 1919.
The connec¬
tion between this line and the Coney Island Terminal was to have been
completed in 1920.
In Dec. 1918 the Commission directed the prepara¬
tion of a final order fixing the status of this line as a branch of the Fourth
Avenue Subway.
See "Rapid Transit in New York," V. 107, p. 2477,
See N. Y. Municipal
agreement with city—on
15
Ry. Corp.—organized to carry out company's
subsequent page.
a
The Brooklyn CityRR. Co. was held under a 999-year lease dated Feb. 14
1893, guaranteeing all fixed charges, organization expenses, taxes and 10%
dividend [Oct. 1919 and
subsequent dividends not paid—see above] on
$12,000,000. of stock (par $10). The lease
was nominally to the Brooklyn
Heights Railroad Co., but the Brooklyn Rapid Transit Co. owns the
entire capital stock of the Brooklyn Heights Co.
The lease was abrogated
Oct. 181919 for non-payment of rental.
In 1898 the Heights Co. leased
the Brooklyn Queens County A Suburban RR.
The lease was renewed
year by year, rental being fixed charges, taxes and organization expenses.
On July 1 1901 the B. Q. O. A S. begaj. operating separately again.
On
April 1 1899 che Heights Company temporarily leased the Nassau Elec¬
tric RR.
Later permanent leases*were made, but on June 301904, presuma¬
bly to consequence of a decision (V. 79, p. 102) compelling the issuance of
transfers, the lease of the Nassau Electric RR. was canceled
The Brooklyn Heights RR. to April 1899 leased for the period of 999 years
the Prospect Park A Coney Island RR., the New York A Coney Island RR.
and the Prospect Park A South Brooklyn RR., but the leases of these com¬
panies were assigned in March 1907 to South Brooklyn Ry.,which had been
acquired bypurchase in Feb. 1902.
V. 74. p. 479.
In July 1912, however,
the South Brooklyn Ry. acquired 495 out of 500 shares of P. P. A So,
Bklyn. stock and 820 out of 1,000 shares of N. Y. A O. I. (Y. 95, p. 47),
and to Oct. 1915 was auth. to purchase the P. P. A O. I. RR.
(V. 101, p.
1464).
In Oct. 1920, however, this transaction was still pending.
Tns
South Brooklyn Railway owns the double-track road extending from New
York Bay, near 38th St., Brooklyn, to 38th St. near 9th Ave., Brooklyn,
and to June 1907 increased Its stock frorq $150,000 to $500,000.
Purchase of Coney Island A Brooklyn RR.—In Dec. '1913 the subsidiary
Coney Island A Gravesend Ry. received permission from the P. S. Comm.
to purchase $2,637,000 of the $2,983,900 outstanding stock of the Coney
Island A Brooklyn RR. V. 90, p. 1020,1088; V. 97. p. 1897.
On May 21 1904 the Brooklyn Heights Railroad Co. signed an agree¬
ment with the city for operation of trolley cars over the new Williamsburg
Bridge. See V. 78, p. 2013, 2386.
Surface cars began to cross this
Bridge in Nov. 1904. V. 79, p. 2084. Later the Bridge Operating Co.
was formed, with $100,000 capital (of which one-half is owned by the New
York Rys. Company) to operate local service on the bridge.
See V. 79,
p. 620.
Through elevated train service over the WilUamsburgh Bridge was
inaugurated Sept. 10 1908.
On Aug. 31 1915 the contracts between the
companies operating over the WilUamsburgh Bridge and the city, namely
the Brooklyn Heights RR., the Bridge Operating Co., the Coney island &
Brooklyn RR. and,the New York Railways, as assignee of the New York
City Railways, were terminated by Bridge Comm. Kracke, but operations
are being continued at the request of the
city under temporary permits
pending negotiations for a new contract.
On Nov. 15 1912 the Appellate
Division of the Supreme Court, First Dept., affirmed the order of tne P. S.
Commission reducing the fare charged over the WilUamsburgh Bridge from
3 to 2 cents, or three tickets for 5 cents.
V. 95, p. 1402, 1471.
The
Transit
Development Co.
was
organized
in
April
1903
under
the
Business Corporation Law, with $25,000 capital, and is owned exclusively
to tne interest of the Brooklyn Rapid Transit Co.
On July 31 1918 was
merged with the .Brooklyn Rapid Transit.
It is authorized to manufac¬
ture and sell power and to do general contracting work.
On March 1
1907 special arrangement was made by which the company furnishes
power and takes charge of the maintenance and repair of all the railway
properties in the Brooklyn Rapid Transit system. Including their equip¬
ment. Y. 84. p. 569. In June 1907 capital stock was increased to $500,000.
The Transit Development
Co. in Dec. 1913 acquired a tract of about
90 acres in the Gravesend section of Coney Island.
V. 98, p. 72.
The
requirement to supply a power-generating plant for the operation of rapid
transit lines having been suspended by tne city, arrangements have been
made with the Interborough Rapid Transit Co. and with the Transit De¬
velopment Co. for purchasing power in Manhattan and Brooklyn, respec¬
tively.
The Transit Development Co. is accordingly largely increasing
its generating capacity.
Wave Increases.—V. 105, p. 2271; Y. 107, p. 401; V, 111, p. 389.
Strike.—For information regarding strikes in 1919 see this section for
Apr. 24 1920.
On Aug. 29 1920 the co.'s employees went on strike pre¬
senting demands (included in 59 articles) among whicn were several de¬
signed to produce "closed shop."
An increase in the minimum wage from
52 cents to 84 cents per hour was also asked.
Service was paralyzed for
several days but tne co. refusing to accede to the men's demands slowly
began building un its service and at last accounts was operating at practi¬
cally normal.
The cars are being run by many old men who returned after
the first few days of strike and also by new men taken on by tne co. to re¬
build its operating force.
For further details see V. Ill, p. 989, 1082,
1182,1277.
;
Mortgages of Constituent Companies to Secure Advances by. Brooklyn Rapid
Transit.—In May 1907 the N$sw York State RR. Comm. consented to the
Sea Beach Ry.. the Canarsie RR. and the South Brooklyn Ry.making
mortgages of $2,000,000. $2,000,000 and $4,000,000, respectively, to secure
certificates of Indebtedness issued by those companies to the Brooklyn
Rapid Transit for moneys advanced for additions, betterments. Ac
In
June
1907
Brooklyn Union Elevated authorized a mtge. for $20,000,000
and the Nassau Electric for $5,000,000 for same purpose: but In July 1908
Public Service Commission denied application for the approval of these lat¬
ter two mortgages.
See particulars v. 87, p. 224.
No bonds will be issued
under any of these ratges., which are created simply to secure the certifi¬
indebtedness as issued from time to time.
The certificates cannot
cates of
be issued at less than par and are deposited under
Transit first refunding mtge.
V. 84, p. 1181, 1246,
the Brooklyn Rapid
1550.
Ac.—On July 18 1919 P. S. Commissioner
Lewis Nixon auth. the company to charged cents for transfers on practi¬
cally all its surface car lines, effective Aug. 1 1919.
The company had
applied for authority to charge 3 cents for transfers (V. 109,1 p. 370, 477).
Compare "Electric Railway" Section of March 29 1919. page 17, under
caption "Fares."
See also V. 109, p. 1179.
On Oct. 16 1919 transfers
between the elevated and subway lines were discontinued,
V. 109, p. 1527.
Fares—Transfer
Charges,
On July 8 1920 the Court of Appeals handed down a decision to tue effect
tnat the
Public Service Commission has authority-under certain franchise
agreements to hear rate increase petitions separately as to lines of the B. R.
T. system, but nas not jurisdiction to hear petitions for increased fares
relating to the system as a whole.
The Court held that the following classes
fall outside of the scope of the decision in the Niagara JFalls
case (V. Ill, p. 188) and the famed Quimby-Eochester Street Railway case
(V, 109, p. 271, 370): (1) All franchises granted by t»»e Legislature: (2) all
franchises granted by municipal authorities prior to Jan. 1 1875; (3) all
franchiser granted by municipal authorities subsequent to the passage of
P. 8. Commission law, July 1
1907.
The receiver has applied for in¬
creases in those cases which are within the Jurisdiction of the P. 8, Comm.
under the above decision.
For further details see V. Ill, p. 188.
Fire-Cent Coney Island Fare.—Effective May 1 1920 the co. reduced fares
to Coney Island to 5-cents.
Compare V, 110, p. 1526.
of franchises
Bus Operation Held Illegal.—Gn April 1 1920 Supreme Court Justice
Cropsey decided that the operation of buses in Brooklyn by the city was
illegal.
V. 110, p. 1414.
See also V. 110, p. 2658 under caption "Rapid
Transit
in
New
York."
Wreck and Damage.—A wreck occurred on Nov. 1 1918 on the Brighton
Beach line, resulting in the loss of nearly 100 lives and injury to more than
100 persons.
V. 107, p. 1836.
•
Stock Increase.—On Jan. 3 1913 Increased its auth. stock from $45,000,000
to $90,000,000.
The new stock waa issued from time to time up to July 1
1914, exclusively for the conversion of 4% bonds of 1902.
V. 90, p. 61.
In Feb. 1917 Applied to P. S. Comm. for auth. to issue $299,643 addi¬
tional Brooklyn Queens County A Suburban RR. bonds.
Up to March 27
1920 authority had not been granted.
Suit Against City.—In Dec. 1918 the N. Y. Municipal Ry. Corp. and the
N. Y. Consolidated Ry. Oo. brought suit against the city of New York and
•the P. S. Comm. to compel completion of the city transit system in accord¬
ance with the contract of March 19 1913. The Plaintiffs alleged that, not¬
withstanding the elapse of 6 years since the execution of the dual contracts
there remained unfinished and still to be constructed or completed 47 miles
of track out of a total of 115, and 19 miles of road out of a total of 41 of the
lines which the city assumed to construct by Jan. 1 1917 ana which the
co. agreed to equip and operate. For further details see V. 107, p. 2288.
New Mortgage.—At a special meeting held May 23 1918, stockholders
ratified the creation of a new mortgage for $150,000,000 to take the place of
the present 1st A ref. mtge. of 1902, to which it is generally similar in
amount, character and scope.
It was proposed to use the new bonds as
follows: (a) $7,000,000 for retirement of bonds issued under B. R. T. mort¬
gage of Oct. 1 1895; (b) $53,033,000 for taking up, exchanging or retiring
bonds of constituent cos.; (c) $27,621 j000 to replace B. R. T. refunding 4s
^
.
.
ELECTRIC RAILWAYS
16
(d) $29,619,000 as collateral for loans; (e) $1,350,000 to reimburse the co.
bonds,
for the cost of $625,000 Coney Island & Bklyn. RR. Co. cons. Mtge.
$650,000 Sea Beach Ry. Co. Cons. Mtge. bonds {these, however, were paid
•ff to March
1919 with part of the proceeds from the sale of some dock
property), and $200,000 Bklyn. City RR. Co. 1st & Ref. Mtge. bonds;
(jT) $31,377,000 for acquisitions, additions and improvements. Interest rate
and redemption privilege for new bonds to be fixed at time of issuance.
Such of the bonds as may be determined by the directors may be made
convertible into the company's stock.
For further details see v. 106, p.
1900 2227; V 107 p. 703.
Note Extension.—Because of adverse conditions existing at the time, the
co. found itself unable to take up the $57,735,000 secured notes which
matured July 1 1918.
The co. arranged for an advance from the War
Finance
Corp. of $17,320,500, or 30% of the face value of the maturing
a period of 3 years at 7% on the condition that holders of the
notes exchange at least 70% of their holdings for new 3-year 7% notes.
The
notes, for
co.
accordingly offered the noteholders for each $1,000 note (a) $300 cash
and $700 face amount of new 3-year 7% Secured Gold notes, or (b) $1,000
new notes.
Holders of over 94% of the notes having ac¬
face amount of
cepted this offer, the plan was declared operative July 16 1918.
up to
1920 holders of $55,146,000 of notes had chosen option (a) and
holders of $2,084,000option (6).
V. 106, p. 2648,2755; V. 107, p. 290,694.
March 1
Date.
STOCK AND BONDS—
Interest,
Outstanding
Maturity
See text
Stock, $90,090,000 ($100)
Q-J
$74,465,159
6 g F-A 1
Receiver's certifs Ser A $20.-1 1919
18.000.000
Aug 1 1921
000,000 ($1,000) gold
J Callable at par and tot.
Brook Rap Tr 1st ref mtge,' 1902
4gJ-J
*3,439,000 July 1 2002
$150,000,000. gold. c^Jcrtf Central Trust Co., N. V., trustee.
Coupon
bohds ($1,000); registered ($1,000. $5,900)
B R T consol and ref mtge
1918
6%
See text
1928
Columbia Trust Co., N. Y., Trustee.
$150,000.000.
1895
6 g A-O
Brook Rap Trail gold mtge,
W,970.000 Oct
1 1945
$7,000,000 —„..-„_c*ntf d Int. at Central Tr. Co.. N. Y.. trustee.
B RT securednotes $57,735.1918
57,230,000 July 1 1921
000($100,$500&$l,000)gtf Central Union Trust Co.. N. Y., Trustee.
Brooklyn City RR—
Refund mtge. $6,925,000/ 1906
4 g F-A
*925.000 May 1 1956
($1,000)
ntf[Long Island L & Tr Co, Bklyn, trustee.
1st consol M,$6,000,000ntf 1891
5 J-J
t/4,373,000
July 1 1941
Brooklyn Heights Rlt first? 1891
5 A-O
250,000 Apr
1 1841
mortgage, $250,000
tf Int. at People's Tr, Co., Brooklyn, trustee.
1894
5 g J-J
el,500,000
July 11941
Brooklyn Queens Co & Sub
first M, $3,600,000 -ntf Guar. Trust Co., New York, trustee.
1894
5 g M-N
First consol M, guar p k i
m2,834,000
July 11941
(end), $4,500,000— ntf Central Trust Co., New York, trustee.
~
~
"
~
*
J
Jamaica k Broek RR first
1189
5 g J-J
/232,000 Jan
1 1930
mortgage, $240,000— tflCentral Trust Co., New York,
Brooklyn Union Elev 1st MJ 1899
5g F-A
15,967,000
)
tfr
-----guar. $18.000,000
[Int. at Central Tr. Co., N. Y..
4 K F-A
7,000,000
Kings Co Elev first mtge,; 1899
trustee.
Feb 1 1950
trustee.
Aug 1 1948
$7,000,000($1,000) ,g(gu)ntt Int. at Central Trust Co., N. Y., trustee.
1898
4 g J-J
Nassau El RR Co cons M
pi0,347,000 Jan
1 1951
bonds ($1,000), $15,000,- Guaranty Trust Co., N, Y., trustee. Bonds
000
c*<fcrtf guar, by end. by Bklyn. Heights RR.
1894
5 A-O
First mtge bonds (closed) tf,
660.000 Apr
1 1944
Hamilton Trust Co., N. Y., trustee.
1891
5 g A-O
Atlantic Ave. gen mortgage
C2.241.0OO Aor 11931
gold (closed)
ntf, Brooklyn Trust Co., trustee.
,
Atlantic Ave
Improvement,/ 1894
6 g J-J
220,000 Jan
1 1934
(closed)tfJCentral Trust Co., New York, trustee.
gold
1883
5 g A-O
& W. E. general
1 1933
121,000 Oct
gold, $121,000
tf Franklin Trust Co., N. Y.. trustee
1912
5 g J-J
1 Y Mun Ry Corp 1st Mtge
n2,265.000 Jan
1 1966
$100,000,000 ($1,000 and Interest at Central Trust Co., New York.
Trust/60
$500) gold
c*&rtf
1898
4 g J-J
si ,987,000 July 1 1948
Coney Isl k Bklyn 1st consol
M $2,000,000 gold—.ntf Mercantile Trust Co., New York, Trustee.
1904
4 g J-J
Consol mortgage $10,000,-.
£1,500,060 Jan 1 1955
000 gold ($1,000)
c*tf Mercantile Trust Co., New York, Trustee.
1889
5 J-J
£1,983.000 July 1 1939
Bklyn City k Newtown
1st M $2.000.000—ntf [Mercantile Trust Co., New York, Trustee.
Real estate mortgages
5%
409,562
B.
B.
Rental payments in addition to payment of fixed charges—
Brooklyn City RR. stock. $12,000,000, 10% Q.-J. 15. 999 yrs_$l,200.000
(The above lease was abrogated Oct. 18 1919.)
Prospect Park k Coney Island RR., yearly rental.,
45.000
c Atlantic Avenue general mortgage 5s of 1931 were subject to call to
1909, but many of them (how many is not known) have been stamped,
releasing them from the liability to call.
d The Central Trust Co. of New York was trustee of this mortgage until
Oct. 1903, when Colonial Trust Co. (since consolidated with Trust Co. of
America—latter being merged into Equitable Trust Co.) was substituted.
e Not including $2,000,000 held by Brooklyn Rapid Transit Co.
/ Not Including $8,000 owned by B. R. T. Co.
n Not Including $7,000 held in sinking fund.
k Not including $732,000 owned by B. R. T. Co.
I Not including $30,000 owned by B. R. T. Co.
m Not including $50,000 owned by B. R. T. Co.
n Not including $57,735,000 owned by Brooklyn Rapid Transit Co.
pNot including $1,161,000 owned by B. R. T. Co
s
Not including $13,000 held to sinking fund.
x Entire amount owned by Brooklyn Rapid Transit Co.
Not including $1,627,000 owned by B. R. T. Co.
i
i Not including $24,112,000 owned by B. R. T. Co. and constituent
cos.
Stock.—In the reorganization of the Long Island Traction, the old $30,000,000 stock paid an assessment of $10 per $100 share, the old stock being
g
reduced to $20,600,000, and $7,000,000 of 5% bonds being authorized
against $3,000,000 of Long Island Traction.
$64,840 stock to addition
to amount reported outstanding is held in treasury.
Dividends.—First div., 1%, paid April 1 1909; July, 1%; Oct., 1%.
in
1910, 4H%; to 1911 and 1912. 5%; in 1913. Jan.. lJi%; Apr.. IH%; to
July increased rate to 1H%; same rate quar. to and tocl. Jan. 1918,
April
1918 div. deferred (see v. 106, p. 1125,1576).
No cash dividends may be
paid during life of 3-year notes.
Interest
Bonds,
Where
Payable.—Interest
Brooklyn Rapi?*
Transit mortgage of )902 for SI50.000,000 and the two Elevated issue* re¬
payable at the Central Union Trust Co.; on the Brooklyn City RR. refund¬
ing bonds at company's office; on the Nassau Electric bonds, including
Atlantic Avenue and West'End issues, at the Central Union Trust Co.,
N. Y.; on the Brooklyn Queens County & Suburban mortgages and the
Jamaica & Brooklyn first mortgage at the Brooklyn Trust Co., Bklyn.
On
the B. R. T. secured notes of 1912 and on N. Y. Mun. Ry. Corp. 1st M.
bonds at Central Union Trust Co.
Int. on all Coney Isl. & Bklyn. bonds
is payable at Central Union Trust Co., N. Y.
On Bklyn. Heights RR.
1st M. at People's Trust Co., Bklyn.
on
on
the
Secured Notes.—The 1918 notes are secured by pledge of an equal amount
of First Mortgage 5s of New York Municipal Ry. Corp. and by $29,000,000 Consolidated & Refunding Mtge. 10-year 6% bonds.
The in¬
denture also provides for the exchange of the $10,000,000 B. R. T. Ref. 4%
bonds pledged as security for the old issue for new 10-year 6% Consol. &
Ref. bonds as soon as the Ref. 4s can be released from the old indenture.
During the life of the notes the co. may pay no dividends upon its capital
stock to cash or to securities or scrip unless such securities or scrip shall rank
subsequent to rights of noteholders.
The notes are red. all or in part on
any Int. date on 30 days' notice at a premium of H % for each 6 mos. which
the notes may still have to run at the date erf redemption. V. 106, p. 2755,
Listed on New York Stock Exchange.
Y. 108, p. 1510.
Mortgage for
$150,000,000.—Stockholders authorized
March 20 1902
first refunding 4% gold convertible bonds for $150,000,000.
$59,179,000
were reserved to retire bonds issued. or to be issued, under mortgages of
companies and the $7,000,000 Brooklyn Rapid Transit 5s,
and the rest for improvements, additions and acquisitions, as needed
from time to time.
The mortgage provides that a fund of $5,000,000
constituent
proceeds be at all times at the disposal of the company
mentioned.
See V. 74, p. 377.
As this fund is re¬
authorized, more bonds may be authenticated
by trustee-and delivered to the company on its order.
These bonds were
convertible into stock, par for par, before July 1 1914, and $29,619,000 were
so converted.
They are subject to call on any interest day until the year
2000 at 110 and Interest; after that at par and interest.
See listing applies
tions In V. 81. p. 1856,1857, for list or securities pledged for the bonds; alec
lusting applications in V, 82, p. 517; V* 83, p. 1122; V, 85, p. 1523; V. 86.
p. -923; V. 90, p. 786.
in bonds
for
the
or
their
purposes
duced for any of the purposes
[Vol. 111.
Bonds.—Of the $7,000,000 50-year gold 5s of the Brooklyn Rapid Transit,
$3,000,000 went to stockholders for assessment.
For description of prop¬
erty covered by the mortgage, see Y. 62, p. 1138.
See also V. 67, p. 904Brooklyn City RR. mortgage of 1891 is for $6,000,000 and is a fust lien
on the old Brooklyn City road and a consolidated lien on the lines acquired
by consolidation to 1890.
Of the $6,000,000 issued, $4,373,000 are in the
hands of the public and the balance is held in the guaranty fund.
The
bonds are subject to call.
Stockholders of the Brooklyn City RR. July 10 1906 authorized a new
mortgage for $6,925,000 to provide for refunding.
V. 82, p. 1437.
The
bonds are subject to call at 110 and interest.
The total authorized issue of first consolidated mortgage gold 5s of the
Brooklyn Queens County & Suburban RR is $4,500,000. of which $1,616.000 are reserved for extensions, on which they will be a first lien.
Of the
$2,884,000 outstanding, $2,255,000 to 1898 were endorsed with the guar¬
anty of the Brooklyn Heights RR. Co. as to prto. and interest, and to Jan.
1899 provision was made for guaranteeing the remainder upon the payment
of $10 per bond.
Both B. Q. O. & S. loans are subject to call frem 1916.
The $650,000 Sea Beach Ry. 4% bonds due Sept. 1 1916 were taken up
at maturity by the B. R. T. (retired In March 1919).
V. 103, p. 843
The B. B. & W. E. 1st 5s, due April 1 1917, were also taken up by the
B. R. T. at
maturity.
The Nassau EI. 1st cons. M. bonds are guar, (by end. on each bond)
by the Brooklyn Heights RR.
Besides covering the mileage directly owned
they are a lien by a supplemental agreement upon the stock of the Coney
Island k Gravesend By. and will become a direct lien on this line should it
become merged in the Nassau Electric.
Of the total of $15,000,000 bonds
authorized, the unissued remainder ($3,242,000) is for prior liens.
See
listing application in V. 72. p. 342.
In Dec. 1918 it was announced that the Brooklyn Union Elev. 4-5%
bonds and the Kings County Elev. 4% bonds would be guaranteed upon
presentation on certain dates during the year of 1919 by the Brooklyn
Heights RR. Co. V. 107, p. 2475.
Coney Island & Brooklyn Bonds.—Of the $10,000,000 boads auth. by
mtge., $4,000,000 are reserved for prior liens and $3,768,000 are reserved
for ext. and imps.
No sinking fund, and bonds cannot be called.
MILEAGE.—The system Includes:
Name—
First
Second
Track.
Nassau Electric RR.
Sidings,
1.851
101.655
0.198
24.332
30-521
3.189
8.655
.234
Track.
Brooklyn Heights RR
3.156
Brooklyn City RR
—106.387
Bklyn. Queens Co. & Suburban RR__ 31.246
69.671
68.083
Coney Island & Gravesend Ry——
4.156
South Brooklyn Railway..
.459
Prospect Park & Coney Island RR—
9.281
Coney Island & Bklyn. RR
22,178
Total
Miles.
5.205
231.918
64.956
146.109
7.697
Ac.
3.307
.459
3.301
8.399
22.490
8.327
6 .948
4.219
26.007
52.616
53.173
49.655
156.032
.231
1.802
1.762
1.707
3.755
3.509
1.741
N. Y. Mun. Ry.—Lessee City of N.Y. 26.854
1.741
26.693
.218
23.002
3.700
76.549
321.841
128.290
783.028
.
New
York
Consolidated RR,
and
New York Municipal Ry.
Corp
53.204
Trackage on N. Y. & Brooklyn Bridge—
Rapid transit lines...
1.762
Surface lines
Trackage
on
—-
....
Williamsburgh Bridge—
Surface lines
Total miles operated
332.S97
EQUIPMENT Dec. 31 1919.—5,280 cars.
Closed cars, 1,279; open cars,
1,171; convertible, 667; semi-convertible, 1,059; subway, 580; miscellaneous,
524. On Dec. 14 1916 the P. S. Comm. ordered the co. to provide by not
later than Feb.
1 1918, 250 new surface cars of the centre-entrance, steptype, with seating capacity for 58.
V. 103, p. 2340.
The com¬
protested and a re-hearing before the P. S. Comm. In Feb. 1918
resulted to a compromise agreement for the immediate purchase of 100
large subway and elevated cars and 50 surface trailer cars and the con¬
version of 100 centre-entrance cars for multiple-unit operation, at a total
less
pany
cost
full
than
of more
$3,000,000.
V. 106,
compliance with original order
Commission reserving all its rights.
the
co s
p.
714.
Proceedings to compel
adjourned until Oct. 1918. the
In Oct. 1918 the Commission denied
were
application for the modification
or
postponement of the order.
On
Dec. 5 1918 Justice Russell Benedict to the Kings County, N. Y.,
Supreme
Court issued, upon application by the N. Y. P. S. Comm., writs or man¬
damus requiring the co. to purchase the 250 cars as specified to the Com¬
mission's order.
V. 107, p. 2187.
Compare V. 107, p. 1919.
On Dec.
19 1918 Supreme Court Justice Russell Benedict granted the co. an exten¬
sion to Nov. 1 1919, by which time the co. must have the 250 cars in actual
Y. 107,
operation.
p.
2375.
for 200 safety cars with
the J.
In June 1919 the company placed an order
G. Brill Co.
V. 108, p. 2527.
See also
V. 109, P. 476, 1461, 2440.
INCOME ACCT. BKLYN. RAPID TRANSIT AND CONSTITUENT COS
FOR CAL. YEAR 1919 AND YEARS ENDING JUNE 30.
Cal. Year
—
•
1919.
:
Passengers carried
—
Years end. June 30
1918-19.
1917-18.
1916-17.
771,044,274 760,519,397
..
Revenue—
.
Transportation.
..$34,140,417 $32,550,540 $29,879,309 $28,992,111
925,288
722,790
627,188
511,908
Miscellaneous
Total...
—
.$35,065,704 $83,273,330 $30,506,497 $29,504,019
Expenses—
Maintenance of way
Maint. of
$2,946,454
epuipment—
$2,419,105
$2,480,439
$2,505,288
3,870,169
2,921,824
2,632,885
2,496,349
Operation of power plant
4,014,223
Operation of cars....... 12,900,315
Damages & legal expense
1,096,718
General expenses.......
1,289,158
Freight & mail expenses.
396,445
Amer. Ry. Traf. Co. exp.
351
Taxes
2,200,633
3,815,513
10,946,396
1,563,971
924,928
311,798
2,667,809
8,044,547
1,194,715
811,023
280,100
2,041,617
7,583,622
1,040,685
768,991
304,666
199
2,351,104
_
^
Total
Net earnings
Total income........
Fixed charges (net)
$7,922,674
509,724
$7,102,635
8,142,998
$8,432,398 $10,358,769 $10,839,313
8,011,474
6,246,715
5,644,074
—def $1,040,363
Dividends
Balance
288
2,443,652
$6,351,238
751,397
Other income
Surplus
221
2,446,900
—$28,714,467 $25,350,656 $20,555,457 $19,092,521
$420,924
—
—.def$1,040,363
Latest Earnings.—See V.
$420,924
$9,951,040 $10,411,498
407,729
427,815
$4,112,054
$5,195,239
(3)2,233,659 (6)4,467,318
$1,878,395
$727,921
Ill, p. 989.
OFFICERS.—Gen. Mgr. under Receiver, W. S. Menden; Chairman of
Board, Nicholas F. Brady; V.-P. & Treas., C. D. Meneely; Sec., J. H
Bennington; Oomp., Howard Abel.
Offices, 85 Clinton St., Brooklyn
V. 108. p. 2628; V. 109, p. 577, 675, 774, 887, 1079, 1179,
1272, 1366,1461
1527, 1792, 1891, 1986, 2071, 2073, 2171, 2439; V. 110, p 77, 166, 761
1414, 1526, 2487; V. Ill, p. 73, 188, 389, 588, 692. 791, 989, 1660
COMPANIES CONTROLLED BY BROOKLYN RAPID TRANSIT
OO.
(1) New York Consolidated RR.
Receiver
Appointed.—See Brooklyn Rapid Transit above
Receiver's Certificates.—See B. R. T. above.
ORGANIZATION.—Incorp. at Albany on Nov. 30 1912 as a consolida¬
Elevated RR.. Sea Beach Ry. and Canawie
tion of the Brooklyn Unton
Y>
p. 1608.
Brooklyn Rapid Transit owns or controls $13,430.common stock.and $4,785,985 out of the $5.-
*H:900,000
'KXIJKJu preferred stock.
Owns all the outstanding stock of the N. Y.
Municipal Ry. Corp. (whfcsl»
holds the concracts made with the City of New York to
1913 for the opera¬
tion of subways, Ac.) and guar. Its bonds, p. k !..
jointly with B. R T
Lease.—Al\ rights, Ac*, of the N. Y.
Municipal Ry. Corp. under Its con¬
tract.with the city have been leased and assigned to the New
York Console
Rx?"
"The New
C0r ,te^ns"tatement of N. Y. Municipal Ry.
York Consolidated
to
Oon>. below
1915 leased for 9»9 years the "NT»r«*»
ElectricHR.'s terminal at Coney Island, the consideration
being $226 000
"P°n delivery of lease and $100 per annum from Aug. 1915 which the New
York MunicipalRy. Corp.
construction
under
the
was
authorized to charge against the cost o*
contracts.
See V.101 d.447
Con
dual system
tract for construction of new terminal was let in
March
1916
Two tracks
to operation from Sheepshead Bay to Culver
Terminal.
The entire
was to be ready for use before the close of
1919, with the exception
of the connection with the city-built Culver line.
The latter was put in
operation as far as Kings Highway on March 16 1919, and to Avenue X
on May 10 1919.
The connection with the Coney Island Terminal was to
have been completed in 1920.
This line will
are
terminal
he Fourth Avenue Subway.
finally operate
V. 107, p. 2477.
as a
branch of
ict., 14) ^0.)
ELECTRIC
Favorable Decision.—In April 1918 the
Appellate Division of the Supreme
Court upheld the decision of
Supreme Court Justice Erlanger in April 1916,
holding that under the contract with the city, dated March 19
1913, the
company was relieved from the obligation of
paying tolls for the operation
of care pver the
Williamsburgh Bridge.
V.
106,
p.
1576.
Division oj Earnings with City —As the New York
Consolidated tiolds
under assignment and lease, all the
rights acquired by the New York Munici¬
pal Ry. Corp. in the latter'« contracts with the
city, all the earnings ac¬
crue to it.
The division of earnings is on the
following basis:
1. To the company.
$3,500,000. as representing the net earnings of the
previously existing railroads which
went to form part of the new
rapid
Out of this reservation the
company pays interest charges
capital investments prior to Mar. 19 1913 in the then
existing railroads.
transit system.
on
2.
ment
and
To the company, 6% on its new investment in
construction and equip¬
prior to the beginning of permanent operation and thereafter
interest,
1% sinking fund.
3. To the city, interest and 1%
sinking fund
construction.
on its
Investment in cost of
>
•..
4.
Any surplus remaining, after making provision for a moderate contin¬
gent reserve fund, is to be divided
equally between the company and the
city.
The company's preferential
payments are to be cumulative.
Results of Temporary
Operations of Lines Under Contract with the City.
Year end.
Year end.
Aug. 4 '13 to
June 30'19.
Total
revenues.
June 30 '18.
June 30 '19.
$15,710,096 $13,057,406 $66,433,851
$11,378,416
$8,296,955 $42,817,768
5,886,201
5,166,201
26,613,632
Total deductions
Company's preferentials...
Total
$17,264,617 $13,463,157 $69,431,400
$405,751
$2,997,549
Deficit in company's
preferentials.$1,554,521
Interest paid by city on its cost of con¬
struction of property placed in
op¬
eration plus sinking fund of
1%___
5,196,051
1,428,610
10,181,905
Total deficit
Deficits in city's
$6,750,572
$1,834,361 $13,179,454
charges during temporary operations to be added to
the cost of construction of
city-owned lines.
Compare V. 106, p. 1348,1795:
V. 107, p. 703.
STOCK AND
BONDS—
Date.
Interest.
Outstanding.
Maturity.
$13,900,000
Dec'18 IK
5.000.000
Dec'18 IK
M, $15,967,-f 1899
5 g F-A
15,967.000
Feb 1 19o0
000. gold, 4% till 1905.(Interest at Central Trust Co., New
York.
since5% ($1,000)
tf i
Trustee.
Kings County El 1st M, gold,/ 1899
4 g F-A
7,000,000
Aug 1 1949
$7,000,000 ($ 1,000)_c*ntf 1 Int. at Central Trust Co., N. Y., Trustee.
Com stock, $ 13,666,600 ($100)
Pref stock. $5,00#,000 ($100)
Q-M
Q-M
Bklyn Un El 1st
Bonds.—Bonds of tba Brooklyn Union and Kings
County Elevated BfC.
companies are guar. p. & i. by Bklyn. Heights RR., guaranty to bo
stamped
upon bonds upon presentation.
In Feb. 1902 began stamping*bonds with
Certain days each month are designated for stamping.
See
V. 106, p. 188.
Both issues are listed on N. Y. Stock Exchange.
guaranty.
DIVIDENDS.—The first div., of 2%. on theold Bklyn. Union Elevated
RR. pref. stock was paid June 29 1901; in 1902 and
1903, 3%; in 1904.3K%
in 1905. 4%; in 1906, 4K%; in 1907 to 1911,
incl., 5% per annum: in 1912
June, 2K%; Dec., 6%.
On com., 1st div., 5%. paid June 10 1910; Dec..
2K%In 1911,15%.
In 1912. June, 2K%; Dec., 6%.
In Nov. 1912 became part of the N. Y. Consol. RR.
Diva, on both
classes of stock
of the latter have been as follows:
In 1913. June, 5%:
Sept., 1K%; Dec., 1K%.
Inl914,8K%In 1915 to and incl. July 1918
10% per annum.
In Sept. and Dec. 1918 1K% quar. was
paid on both classes of stock.
None since.
at the rate of
ROAD.—Embraces 232.581 miles of rapid transit track, of which 76.549
The New York & Brooklyn Bridge has 3.755 miles of
miles are leased.
track in addition.
When all the lines embraced in contract with the
city
have been completed, will consist of
approximately 285 miles of track, in¬
cluding trackage rights over the Astoria and Corona (Queens County) lines
enjoyed mutually with the Interborough Rapid Transit Oo.
OFFICERS.—Pres.. John H. Hailock;
V.-P. & Treas., C. D. Meneely;
Sec.. J. H. Bennington; Oomp., Howard Abel.—V. 103. p. 884.
<u) New York Municipal Railway Corporation.
Receiver Appointed.—See B. R. T. above.
Receiver's
Certificates.—See B.
R.
T.
on
New York Consolidated RR. Co.
(as enlarged and extended) as one system,
a single fare.
The city-constructed lines may be recaptured by the
city after 10 years upon payment to the company of a fixed percentage of
and for
the latter's investment in construction and
equipment (115% at the end of
10 years and a gradually diminishing amount in
succeeding years), so that
the company will receive an amount which, with the accumulations
of Its
sinking fund, will at least make good its investment.
In March 1913 the P. 8. Commission
approved a contract with the Brookr
use of the Lutheran Cemetery line.
This line was
lyn Heights RR. for the
placed in operation Feb. 22 1915.
V. 100. p. 732.
LEASE TO N. Y. CONSOL. RR.—On Mar. 26 1913 the P. S.
Comm.
sanctioned the lease and assignment to the N. Y. Consol. RR. of all
rights
under the contract with the city
respecting new rapid transit lines.
(See
V. 96, p. 360, 947).
The company also transferred to the N. Y. Consol.
RR. the certificates for extensions and additional
tracks, as well as certain
real estate in Brooklyn and the above-mentioned contract with the
Brooklyn
Heights RR. legarding the Lutheran Cemetery line.
The lease calls for
on the N. Y. Municipal Ry. Corp. stock.
The Municipal Ry. Corp. agrees to furnish all the
money necessary to
6% dividends
carry out the terms of the dual system contracts and has the option of doing
all the construction work and
acquiring all the equipment, or of requiring
the Consolidated Co. to do so on reasonable notice.
In August 1913 m 1 P. S. Commission granted
authority to issue $409,000
additional stock, of which $100,000 was issued in
April 1915.
UptoJune30
1919 only $200,000 stock out ail owned by New York Consolidated RR.
In March 1916 the co. applied to P. S. Comm. for auth. to Issue
$697,500
additional stock to reimburse the B. R. T. for commissions and fees for
counsel
paid out in connection
with
the
dual
Still pending.
Default
on
subway system financing.
T. above.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maiuntu
All the $200,000 out ownedl by N. Y. Consol.
First mortgage,
$100,000,000) 1912
5 g J-J
$2,265,000
Jan 1 1966
($1,000 & $500), g-C*<fcr..tf 1 Int. at Central Trust Co., N. Y.. Trustee.
Bonds.—Guar., p. & L, by B. R. T. and N. Y. Consol. RR.$ 60,000,000
were Issued and pledged as
security for B. R. T. secured notes. $2,265,000
of said notes were converted into bonds of this issue.
Right of conversion
terminated Jan.
1
1916.
Semi-annual sinking fund
(minimum,
began
.3175%; maximum,
July
1
1918
K%)Bonds are subject to call as a
part, except for sinking fund, at 107 K on 90 days' notice.
See V. 101, p. 2072. Listed on N. Y. Stock
Exchange in June 1916. V. 96,
p. 360, 863, 947. 1773; V. 101. p. 2072; V. 102. p. 2255; V. 108.
p. 2123.
(2) Nassau Electric Railroad.—A trolley road
Receivership.—See B. R. T. above.
Power Bills Made 1st Lien Against Property.—See V.
109, p. 1179.
not in
ORGANIZATION,—Chartered Mar. 13 1893 under the laws of New
York.
Opened In July 1895 and in April 1896 leased the Atlantic Avenue
RR., &c.
As stated above, the Rapid Traasit Co. owns or
controls
all
-*f the $8,500,000 common stock of
the Nassau
Electric and $6,394,775
out of the $6,500,000 preferred stock.
Was formerly leased for 999
years from
Railroad,
STOCK AND BONDS—
but.
coincidently
with
a
Date.
Interest.
Stock, $3,500,000 (par $100)
First
April 1 1900 to Brooklyn Heights
compelling the issuance of
decision
Outstanding. Last div.&c.
$2,983,990 June '18. 1 K
6 Q-M
consolidated
mortgage/ 1898
4 g J-J
xl,987,000 July
1 1948
$2,000,000, gold
ntf)
Mercantile Trust Co., New York, Trustee.
Consol mortgage,$10,OOO.OOOI
19Q4
4 g w
j/2,125,000 Jan
1 1955
gold ($1,000)c*tf
Mercantile Trust Co., New \rork. Trustee.
Brooklyn City & Newtown j 1889
5 J-J
zl,993,000 July 11939
first mort $2,000,000__ntf)Mercantile Trust
Co., N. Y., Trustee.
—
^
Real
x
y
z
estate
mortgages
5%
....
288,062
Not including $13,000 held in
sinking fund.
Not including $107,000 held in treasury.
Not including $7,000 held in
sinking fund.
None
1K%*
since.
OFFICERS.—V.-P. & Treas., C. D. Meneely; Sec., J. H.
Bennington;
Corap. Howard Abel.—V. 98, p. 235. 303, 386; V. 99, p. 1214; V.
106,
p. 924; V. 109, p. 72, 270, 88ft V. 110, p. 969.
Comm.
8TOCK AND BONDS—
Stock,
Date.
Interest.
$100
Outstanding
1
1914,
"Brooklyn Rapid Transit Co." further above.
Coney Island terminal to the N. Y. Consol. RE
see remarks
under that company aboveand under Brooklyn R. T. Co. In V.
101. p. 447see
.
Default.—See B. R. T. above.
STOCK AND BONDS—
Common stock, $8.500.000
Preferred 4% cura, $6,500,000
"Birney
Safety"
Date.
Interest.
Outstanding.
$8,500,000
M-N
6.50O.OOO
Maturity
..._u
«ee
texi
equip trust)
6%
208,000
ctfs Trust No. 4, Series
"A"/Fidelity Trust Co., Philadelphia, trustee.
Series "B" certificates
129,000
Maturity.
EARNINGS.—Now included in those of B. R. T.—V. 110,
p. 1819.
MANHATTAN
BRIDGE
THREE-CENT
LINE.
ORGANIZATION.—lacorp. In New York. Began operat'g in Sept. '12.
Franchise to operate from Flatbush Ave.
(Brooklyn) te Manhattan ap¬
proved by the P. S. Comm. on Aug. 14 1912.—V. 94.p.
912;V.96.p. 420.
For two decisions handed down by the
Appellate Division ot the Supreme
Court favorable to the co., see V. 97,
p. 1733.
See also V. 106, p. 1797.
STOCK.—Authorized, $1,000,066; outstanding, $456,000.
Dividends.—Initial quar. dividend of 1 K% P»W Mar. 1914
(V.98 p.523):
rate quar. to and incl. March 1916.
None to June 1918, when
1K%
paid.
Same rate has bjen paid regularly quar. since
to and
same
was
September 1920.
ROAD.—Operates 4.14 miles of track from Canal
N. Y., over Manhattan Bridge,
through Flatbush Ave.
ton St.. Bklyn.
16 cars.
year end.
Gross
Net
Other
Taxes,Rents.
incl.
St.
and
Bowery,
extension to Ful¬
Dividends.
Balance,
Earnings. Income. Amort.,&c.
Sur. or Def.
$54,145
$3,235
$33,575
$22,500
sur.
$1,305
40,640
3,513
30,202
(5) 22,500 def.
8.549
1917-18.-. 134,426
46.118
2.624
24,940 (IK) 5.625
sur.
18.177
Total surplus June 30 1920, $13,691.
Passengers carried during 1919-20,
9,105.790 against 5,917,203 in 1918-19 and 5,156,380 in
1917-18.
OFFICERS.—Pres., Fred'k W. Rowe; V.-Pres., Frederick D.
Mackay
and Chas. J. Edwards; Sec., Walter Hammitt; Treas., Ed. T.
Horwill.—
V. 96. p. 285, 1557. 1840; V. 97.
p. 1733; V. 98. p. 523; V. 106, p. 1797.
30—Earnings
1919-20-.-$241,499
1918-19-. 1.53,111
VAN BRUNT STREET & ERIE BASIN RR.—A
trolley road.
ORGANIZATION, &c.—Chartered Feb. 15 1861.
In August 1919 and
again in July 1920, the P. S. Comm. denied the Co.'s
application for auth.
to increase fares from 3 to 4 cents. V.
109, p. 677; V. Ill, p. 390.
Stock,
$200,000, air issued; par, $10.
Bonds, $75,000 1st mtge. authorized;
$31,000 out.
Track, 2.32 miles, changed to electricity in 18986 pass,
cars.
Earnings for year ending June 30 1918, gross, $70,952; net after
taxes, $19,109; other income, $544; interest, &c., $1,950;
surplus, $17,704.
OFFICERS.—Pres
JoUn F. Murphy; V.-P., D. W. Sullivan; Sec. and
Treas., Wyllys Terry.
Office, 264 Van Brunt St., Brooklyn. N. Y.—
V. 108, p. 2331; V. 109, p. 677; V.
Ill, p.,390.
.
BUFFALO,
N.
Y.
BUFFALO & LAKE ERIE TRACTION CO.—A
For lease of
South
$25# ,000
mortgage, now first I 1886
4K F-A
346,000 Feb
1 1926
($1,000 each)
6 F-A
160,000 Feb
1 1926
c»&rj 1886
Third mortgage, now
4 K g M-S
second,/ 1891
96,060 Mar 1 1931
gold ($1,000 each)-_.c*&r| 1891
6 M-S
104,060 Mar 1 1931
Interest on above mortgages payable at office of Treasurer of
Penn. RR.,
N. Y. City.
ROAD.—Embraces 9.281 miles of first track
8-399 m. second track
8-327 m. sidings, &c.; total, 26.007 miles.
Receivership.—On application
June
the
Second
transfers from
one leased line to another (V.
79, p. 102), the lease was ter¬
June 30 1904.
For order requiring universal transfers, effective
auth.
Brooklyn Ry. (controlled by B R. T.) to purchase at $200 per share the
1.768K shares owned by the L. I. RR. and the minority holdings from time
to time as offered. V.101, p.1464. Road had been
operated under lease at an
annual rental of $45,000.
In consideration of a guaranty by L. I.
RR.,
annual int. on the greater part of
Prosp. Pk. & C. I.'s bonded debt was re¬
duced from 6 and 7 % to 4 K %. See V. 56,
p. 42; V. 62, p. 187. All the 2d M.
6s and $80,000 of 1st M. 6s are owned
by L. I. RR.
The $250,000 income
6s due May 1 1920 were taken up at
maturity.
V. 110, p. 1849.
minated
on
......
Bond Interest.—Int. on all above bonds
payable at Cent. Tr. Co., N. Y.
Bonds.—Of the $10,000,000 consol. mtge. bonds of 1904 auth.
by mtge.,
$4,000,000 are reserved for prior liens and $3,768,000 are reserved for exts.
and impts.: $107,000 in treasury. No
sinkingfund and bonds cannot be called
ROAD.—First track. 23.178 miles; 2d track, 22.490 miles; misc.
track,
6.948 miles; total oper., 52.616 miles.
460 passenger and 26 service cars
DIVIDENDS.—In 1895, 6%; in 1896. 5%; in 1897,
6%; in 1898, 8K%;
V. 67. p. 955.
In 1899 and 1900, 10%; in 1901, I3K%;ln 1902. 1903 and
1904, 16%; In 1905, 10%; in 1906, 8%; In 1907, Feb., 2%.
None there¬
after to Jan. 1914, when 6% was paid.
In 1915. Jan., 6%; June, 1K%
Dec., 3%.
In 1916 and 1917, 6%.
In 1918, Mar., 1K%: June,
June
Bond Int.—See B. K
Stock, $2,000,000 ($100):
whole, but
shares of
the stock of this
company.
Coney Island & Gravesend Ry. owns
$2,637,000 and the B. R. T. $49,500 of the co.'s stock.
Bklyn. Rap. Tran,
Co. owns $625,000 consol. mtge. bonds of 1904.
ORGANIZATION.—Chartered Dec. 10 1860.
Oars commenced run¬
ning over the Brooklyn Bridge Feb. 15 1898.
See V. 66, p. 383.
Brooklyn City & Newtown was leased in Nov. 1897 for 999 years.
In
1900 acquired all the stock of that
company, but legal proceedings com¬
pleting merger with Coney Island & Brooklyn were not effected until
1910.
Default.—See B. R. T. above.
(4) Prospect Park & Coney Island RR.
ORGANIZATION.—In Oct. 1915 the P. S.
Sept. 27 1912 to operate the
enlarged transit system (elevated roads and subways) covered by the agree¬
ment between the company and the
city, and to construct and own such
parte of the system as are scheduled for private rather than public owner¬
ship.
V. 95, p. 818.
The lines to be constructed by the city are leased to
the company for a period of 49
years from Jan. 1 1917 and are operated
by the company in connection with the previously existing railroads of the
was
17
Bonds.—For details see Rapid Transit statement above.
Equipment Trust Certifs.—Series "A" were issued by the Fidelity Trust
Co., trustee, and are secured by assignment of a lease
covering 73 Birney
one-man safety care, for which
purchase money notes aggregating $372,926
of Lindley M.
Garrison, receiver of the Nassau Electric RR., B. R. T.
System have been deposited.
These cars were acquired under lease by the
receiver, on order of the Court, and with the approval of the N. Y. P. S.
Commission.
This issue represents about 50% of the
selling prices of these
cars, the balance having been paid in cash
(20%), and by an issue of $129,000
Series "B" certificates which are deferred in lien.
V. 110, p. 465.
ROAD.—Embraces 146.409 miles of single track.
Atlantic Avenue RR. (now part of Nassau
Electric) owned the doublecrack steam road (since converted to
electricity) from Jamaica to Flatbush
Avenue Station in Brooklyn,
9K miles (19 miles of track), which la leased
for 99 years from June 1 1877 to the
Long Island RR. Co., affording that
company entrance into the city of Brooklyn—rental,
formerly a percentage
of receipts, was changed in 1895 to
$60,000 yearly.
V. 61, p. 828.
Liti¬
gation has arisen with Long Island RR.
regarding the use of Atlantic
Avenue.
See V. 74, p. 1139.
In Oct. 1910 N.Y. Court of Appeals decided
that the city had the right to tear up
rails, but city has taken no action
looking to the exercise of the right.
DIVIDEND.—First div. on pref. under lease was paid Dec. 31
1900, 4%.
1901 to 1907 Incl., 4% per annum; in
1908, Nov., 2%; in 1909, Nov.2%.
In 1910 and 1911. 4%: in
1912, May, 2%; Nov., 2% reg. and 4% on account
of arrears. In 1913, May,
2%; Nov.. 4%; 1914 to 1917 incl., 4%; none since.
—V. 109, p. 173, 270, 888, 1179,
2172; V. 110, p. 465.
(3> Coney Island & Brooklyn Rk.
Receivership.—See B. R. T. above.
Foreclosure Proceedings.—Int. due July 1 1919 on the
company's bonds
having been defaulted, Judge Mayer, in March 1920, authorized the
Bank¬
ers
Trust Co., N. Y., to bring a foreclosure suit against the
company.
V. 110, p. 969.
In Dec. 1913 the Coney Island & Gravesend
Ry. (subsidiary of the Bklyn.
Rap. Transit) received permission from the P. S. Comm. to acquire
26.370
above.
ORGANIZATION.—Incorp. In N. Y.
elevated and
RAILWAYS
the
New
trolley]road.
York Trust Co., mortgage
trustee. Justice Brown In the Supreme Court at Buffalo on
July 7 1915,
appointed Geo. Bullock receiver.
V. 101. p. 129.
Sale.—On July 1 1920 Justice Wheeler in the Supreme Court at Buffalo
handed down a decision allowing the company to discontinue its lines within
the State of New Yrcrk, effective Sept. 15 1920.
The Court, " however, hsa
auth. the receiver to continue operation until Nov. 30 1920.
The request of
of
the
co. that it be allowed to dismantle the road was denied.
The court direc¬
ted the receiver to advertise for bids for the property in full or in part.
In
Oct. 1920 all Pids received were rejected.
V. Ill, p. 1660.
The line be¬
tween Fredonia and Dunkirk is excepted from the order.
The court believes
this section
can
be oper. successfully.
V. Ill, Jp. 293; see also V. Ill,
p.
791.
ELECTRIC
18
Default.—The company having defaulted on the Int. due Nov. 1 1912 on
first and ref. M. 5% bonds (subsequent coupons also defaulted),
protective committee requested the bondholders to deposit their bonds
with Equitable Trust Co., 37 Wall 8t., N. Y.t as depositary, or the Girard
Trust Co. of Phila. as sub-depositaryThe aforesaid committee also drew up a plan of reorganization (see
V. 97, P. 297. but in Dec. 1913 the plan was abandoned
Sub Co.—Receivership.—Int. due May 1 1920 on the Hamburg Ry. 1st 5s,
having been defaulted, John F. Burke was appointed receiver for that co.
in Sept. 1920.
Compare V. Ill, p. 1082.
ORGANIZATION.—incorporated in New York and Pennsylvania In
Dec. 1900 and Is a consolidation of the Hamburg Ry., the Dunkirk <fc Frethe
a
RBy the Buffalo Dunkirk & Western Kit., the Lake Erie Electric
Co. and the Erie Rapid Transit Co.
Leases the Erie Electric
Motor Co. for 999 years, which company leases the Erie City Passenger By.
for 999 years from Oct. 1 1888 and the Erie Keed Park & Lakeside Street
Ry. for 999 years from March 1 1901.
In 1909 leased the Buffalo St
Lack. Trac. Co. for 999 years (V. 88. p. 1001), but this lease was canceled
in
1919. However, d new operating agreement with this co. has been made
donia
Also
owns
Also owrn
for
of interurban and freight
operation
cars
Buffalo.
into
all the outstanding stock of this co., and guarantees the bonds.
all stock ($750,000, aR out) of the Dunkirk Street! Ry., which
has a franchise in Dunkirk and has built about 5 miles of track.
On July 17 1919 applied
to N. Y. P. S. Comm. for auth. to sell to the
Niagara Lockport & Ontario Power Co. 480 shares of the Niagara & Erie
Power Co.'s stock and to transfer to the Niagara & Erie Power Co. a right of
company
ROAD.—Operates from Buffalo to Hamburg, East Hamburg and Orchard
Park, ISA miles; also has a line from Buffalo through Gardenville and
Ebenezer to. Lien's Park, oA miles.
An extension to East Aurora, 15
miles Is under construction, 5 A miles completed.
60-lb. T and 80-lb.
permitted to increase fares.
In December 1918 this petition was
denied by the N. Y. P. 8. Comm., which held that in the interest of the
public this line should not be abandoned.
V. 108, p. 77. On Dec. 10 1918
was auth. to abandon service on a part of the road of the Dunkirk St. Ry.
Co. (leased by the co.), provided the city be given security for the payment
of all taxes and assessments.
V. 107, p. 2476.
The receiver has been authorized by the County Court at Erie, Pa., and
Supreme Court at Buffalo, N. Y., to issue $1,544,200 receiver's certificates
to provide funds for improvements and extensions,
of which $960,000
were issued and
outstanding Oct. 1 1920.
Fare Decision.—In July 1918 the Penn. P. S. Comm. dismissed the com¬
plaints against a fare increase holding that an electric railway may increase
Tts fare beyond the 5-cent limit specified in a franchise ordinance when it
is necessary to do so to obtain enough revenue for operation and mainte¬
purposes.
V. 107. p. 500.
Rates.—On Sept. 15 1918 was authorized
nance
to increase passeneer rate*, to
3 cents per mile and freight rates 25%.
Effective Jan. 27 1919, the New
York P. S. Comm. authorized the company to increase inteiurban farps to
Effective Sept. 1 1920 fi eight rates were raised 40%.
3 cents per mile.
Default on Sub. Co.'s Bonds.—See Buffalo & Lackawanna Trac. Co. below
$148,000 Erie Elec. Motor Co. 1st mtge. and $102,000 2d mtge. bonds
due Jan. 1 1919 were retired at maturity; $250,000 Erie Elec. Motor Co.
1st Ref. 5s being issued In connection therewith.
The
STOCK AND BONDS—
Common, $5,000,000
Date.
——
Interest.
——
Outstanding.
$5,000,000
Maturity.
5%, $2,500,000, cum)
...
2,500,000
from July 1909
J,
1906
5 g M-N
7,066,000 Nov 1 1930
1st and ref mtge, $12,000,
000, gold ($1,000)
c»tf Interest at New York Trust Co., Trustee.
1901
5 g A-O
1.250.000 Apr
11941
Erie El M 1st ref sink fund,
$1,250,000. gold ($1,000). Interest at New York Trust Co., Trustee.
New York City.
Cannot be called
c*tf
1906
4 g M-N
745.000 Nov 1 1926
Hamburg Ry 1st M, $750,Pref,
tfllnt. at Equitable Trust Co., N. Y., Trustee.
1902
5 g J-J
39,000 July 1 1952
Trust Co., Buffalo, Trustee.
000, gold ($1,000)
$100,000,/
gold ($100, $500 &. $1,000) 1 Fidelity
Receiver's certificates
—__
bonds.—Of the $12,000,000 new bonds,
up a like amt. of
interest date at
underlying liens.
$2,034,000
960,000
are reserved to take
These new bonds are subj. to call on any
110 and interest.
The Erie Elec. Motor ref. bonds are
by deposit of entire stocks of the Erie City Pass. Ry. and the Erie
A sink. fd. of 1% ann. on these bds began
Apr. 1 1906 and was Increased to 1H% In 1916.
The Hamburg Ry
bonds are no longer subject to call.
The Dunkirk & Fredonia refunding
mortgage bonds are subject to call on any interest date at 103.
EARNINGS.—For year end. June 30 1920
gnr s#» earnings, $2,233,919
net. after taxes, $195,698; deficit, after deducting all Interest charges (in¬
cluding int. on Buff. & L. E. Trac. 5% bonds). &c.. $418,240.
ROAD.—Buffalo, N. Y., to Erie, Pa., and Buffalo, N. Y., to Hamburg,
N. Y., 98.70 m.; leased lines—Dunkirk (N. Y.) St. Ry.. 3.34 m.; Erie (Pa.)
Electric Motor Co., 29.39 m.; Erie (Pa.) & Suburban Ry., 4.21 m.; Buffalo
(N. Y.) & Lackawanna Traction Co .(under new operating agreement:,
4.42 m.—41.36 m.; total, 140.OG m., of which in New York (owned, 81.27
m.; leased, 7.76 m.), 89.03 m., and In Pennsylvania (owned, 17.43 m.;
leased. 33.60 m.), 51.03 m.
Second track (owned, 15.88 m.; leased, 22.76
m.), 38.64 m.
Siding*., &c. (owned, 6.47 m.; leased, 4.01 m.), 10.48 m.
Total track operated (owned, 121.04 m.; leased, 68.13 m.), 189.18 miles.
OFFICERS.—Receiver, Geo. Bullock; Pres. P. C. Schutrum; Gen. Mgr.,
A. It. Myers; Treas. & Asst. Sec., A. F. Tideswell.—V.
107, p. 2475;
V. 108, p. 77, 267; V. 109, p. 887; V. 110, p. 1972, 2291; V. Ill, p. 293,
791, 1082, 1277, 1660.
secured
Reed Park & Lakeside St. Ry.
(I) Buffalo & Lackawanna Traction Co;
Receivership.—In Dec. 1918, upon application of the City Trust Co. of
Buffalo, Harry Evers was appointed receiver for the co.; this action being
the result of a petition of the Buffalo & Lake Erie Traction Co. for auth. to
abandon its lease of the co.'s line.
V. 107, p. 2475.
Default.—On Dec. 1 1918 the Buffalo & Lake Erie Traction Co. defaulted
payment of int. on the co.'s $1,160,000 .5% bonds.
V. 107. p. 2475.
1 1920 this int. was still in default (subsequent coupons also in
default).
ORGANIZATION.—Incorporated In New York tn June 1906 to furnish
an entrance into Buffalo for Buffalo & Lake Erie Trac. Co.
In April 1909
was leased to Buffalo & Lake Erie Trac., for 999 years, but this lease was
canceled in 1919, the company now operating
under a new agreement
providing for the operation of interurban and freight cars into Buifalo.
Stock, $100,000 authorized, of which $55,000 is outstanding and owned by
Buff. & Lake Erie Trac. Co.
Has universal transfers throughout the city
of Buffalo through contract with International Ry. Co.
BONDS—
Date.
Interest.
Outstanding.
Maturity.
1st
mtge,
$1,500,000. goldf 1908
5 g J-D
$1,160,000 Dec 11928
($1,000). guaranteed-_ctf (Interest at New York Trust Co., TrusteeBonds are subject to call at 110 and int.
They have no sink. fund.
Re¬
maining bonds are reserved for betterments and extensions at 85% of cost.
Bonds guar. prin. and int. by Buffalo & Lake Erie Trac. Co.
V. 90. p. 235.
ROAD.—3.90 miles owned and .52 miles leased and used jointly with
Int. Rys. Co.; total, 4.42 miles.
Began operating Dec. 22 1909.
OFFICERS.—Pres., M. D. Evans; V.-P., P. C. Schutrum; Sec. & Treas.,
F. Geo. Robinson.—V. 107, p. 2475
in the
As of Oct.
BUFFALO & DEPFW RY.—A trolley road.
Receivership.— On March 8 1918 "Wm. B. Cutter was appointed receiver
for the company.
ORGANIZATION.—Incorporated on April 27 1897.
Wm. B. Cutter
N. Y., owns about three-fourths of the stock and the entire
$350,000 bonds.
of Buffalo,
STOCK AND BONDS—
Date.
Stock, $350,000 ($100)
Buff &D 1st M, $350,000
Interest.
Outstanding.
Maturity.
$305,000
—,
1901
5 J-J
350,000 Jan
11931
EARNINGS.—For cal. year 1J19, gross, $16,942; ne„, afi-er taxes
loss,
$20,140.
In 1918, gross. *19,401; net. after taxes, loss, $19,099.
ROAD.—Operates a double-track road from Buffalo to Depew,
miles of track; 75-lb. rail; 4 cars.
13.39
OFFICERS.—Pres.,
Wm.
B.
Cutter; Treas., R.
A. Pilkington; See.*
Percy Eaton.—V. 79, p. 2695.
ERIE COUNTY TRACTION CORPORATION.—A trolley road.
ORGANIZATION.—Incorp. in N. Y. on Nov. 24 1919 to take over the
property of the Buffalo Southern Ry. (for history, see "Electric Railway"
Sirpplement of Nov. 15 1919/.
The new company assumed control Jan. 1
19*20.
Tne holders of the .>600.000 Buffalo Southern Ry. 1st M. 5s received
for each
$1,000 bond $250 par value of income bonds and $750 stock of the
new company.
Franchises perpetual.
969.
ORGANIZATION.—Incorporated In New York July 1 1891.
In May
increased from $75,000 to $3,500,000, and In July
new mtge. for $3,500,000 was made to provide extension to Rochester.
In May 1914 Batavia Traction Co. purchased the tracks, roiling stock,
property. Sec., of this company in Batava.
V. 99. p. 269
Fare Increase.—Effective Jan. 29 1920 the company began charging a
7-cent fare from Buffalo to WilliamsvLUe, by establishing zones.
V. 110, p.
1904 auth. capital was
1904
658.
Interest.
Date.
STOCK AND BONDS—
Maturity.
Outstanding.
$75,000
($3,500,000 authorized)
Stock
—
- —
gold/
mtge, $3,500,000.
1904
5 g J-J
108.500 July 11944
($500 and $1,000)—c*&r* (Lot- at City Trust Co., Buffalo. Trustee.
Bonds.—Are subject to call on any Interest date at 105.
1st
EARNINGS—For
call,
year
1919,
gross,
$40,669;
net
income, def.
In 1918, gross, $88,959.
In 1917, gross, $95,699.
ROAD.—6.65 milee of track, Buffalo to Williamsville.
Rails 85-lb.
$1,503.
Gauge 4 ft. 8 A Inches.
OFFICERS.—President, L. L. Lewis Jr.;
Sec.
&
Gen.
T.
Msrr., Godfrey
Morgan; Treas., L. K. Warnick.—V. 99. p. 269; V. 110, p. 658.
INTERNATIONAL TRACTION
CO.
under New York) owns
6Q% of International Traction Co. common stock.
V. 94, p. 1383.
on Jan.
18 1899 under N. J. laws and
The United Gas & Electric Corp. (see statement
over
ORGANIZATION.—Organized
acquired all the electric railways connecting the cities of Buffalo Niagara
Falls, Lockport. North Tonawanda and Tonawanda, together with all the
railway systems In all of said cities; also the electric railway connecting
villages of Depew and Lancaster with Buffalo.
It also acquired the
Canadian Electric Railway, traversing the entire length of the Queen Vic¬
toria Niagara Falls Park and connected it with the American system by the
street
the
acquisition of the steel arch bridge at Niagara Falls and the Suspension
Lewiston, which bridges have been
Owns entire stock and $4,984,500 bonds of
traffic agreement with Niagara Gorge RR.
latter's 8-mile line.
Contract runs to 1941.
In June 1917, purchased the Queenstown Coal Co. of East Brady, Pa., for
$150,000 in the Interest of the United Gas & Elec. Corp.
V. 104. p. 2641.
In Dec. 1912 the Pub. 8erv. Comm. approved the reorganization plan,
calling for exchange of old coll. trust 4s, $ for $, for new col. trust 4s of
Bridge
between
and
Queenstown
equipped with trolley tracks.
the International Ry. Co.
Has
for the operation of cars over the
Internat.
Trac.
Co.
due July
1
1949, and limiting the issue to $18,335,-
V. 96, p. 63.
The few remaining
plan were called for payment on
V. 96, p. 1021.
New Line.—The P. 8. Comm. has autb. the sale of $3,870,000 Interna¬
000 Instead of the $30,000,000 proposed.
bonds of 1890 which did not assent to
July 1 1913 at 110 and int.
—
Dun & Fred ref M,
p.
BUFFALO & WILLI AMSVILLE ELECTRIC RY.
■.
was
V. 110,
V. 109, p. 2439;
girder rail.
for an electric transmission line from Athol Springs to Dunkirk, a dis¬
tance of 34 miles, &c.
V. 109, p. 887.
Transfer was completed April 1
1920.
Outstanding.
Maturity.
$450,000
-------100.000
Jan 1 19*0
150,000
Jan 1 1950
6%
(when earned;
EARNINGS (of Buffalo Southern Ry. Co.).—For cai. year 1919. gross.
$120,318; net, $8,421.
In 1918, gross, $88,843; net. dof., $8,663.
In
1917, gross, $95,699.
way
Application to Abandon Portion of Road.—On April 19 1918 the receiver
applied to the N. Y. P. S. Comm. for auth. to abandon the 28 miles of
line between Fredonia and the Pennsylvania State line, unless the company
Interest.
Date.
STOCK AND BONDS—
Stock, $450.000--First mortgage, $100,000—— 1920
Income bonds, $150,000
1920
Traction
providing
[Vol. 111.
RAILWAYS
tional Ry. ref. and impt. 5% bonds, of
which $3,642,000 have been issued;
provide for the construction and equip, of the high-speed interurban line
through Tonawanda and North Tonawanda to Niagara Falls,
16 miles, over private right of way.
V. 103, p. 1032; see also V. 107, p. 696.
Fares.—On Nov. 30 1919 the company put into effect,, with the P. 8.
Commission's approval, a 7-cent fare, tickets being sold at 6A cents.
V. 109, p. 1986; see also V. 109, 2172; V. Ill, p. 188, 493, 895.
Compare
"Electric Railway" Section of Nov. 15 1919, page 17, under caption "Fares
and Wages."
Important Rate Decision.—See V. 109, p. 370.
Interest Payments—Default. &c.—Because of a 24 days' strike (V. 107, p.
1837) and a subsequent increase in wages the Nov. 1 1918 interest on the
International Ry. Ref. & Impt. Mtge. bonds was not paid until Jin. 1919
(V. 108. p. 480).
Compare V. 107, p. 1837.
The May 1 1919 interest on
these bonds was paid, with interest thereon up to July 29 1919.
V. 109, p.
477.
The May 1 1920 int. was paid on July 12 1920 together with int.
on the deferred payment up to that date.
V. Ill, p. 188
The following committees have called for deposits:
Committee for Ref.
A Impt, Mtge. 5s.—Chairman. Chas. W. Beall,
Francis E. Frothingham, Arthur Perry, Richard B. Young; Sec., Raymond
Spellman, 61 Bway, N. Y. City.
Depositary, Bankers Trust Co., N. Y.
V. 107, p. 2188. 2476.
Committee for 6%
Serial Secured Notes.—Chairman, Geo. H. Reilly;
A. A. Jackson, R. M. Stinson; Sec., J. M. Johnson, Phila.
Depositary,
Girard Trust Co.. Phila.
V. 108. p. 2122; V. 109, p. 270.
Committee for Collateral
Trust 4s.—Chairman, Elliott C. McDougall;
Jacob Gould Schurman, Thos. Dewitt Cuyler, R. Walter Leigh, Thos. E.
Mitten and A. F. Halstead, Sec.. 62 Cedar St., N. Y. City.
Depositary,
to
from Buffalo
Guaranty Trust Co.
V. 108,, p. 268, 1610.
On Aug. 15 1920 $18,100,000,
$18,335,000 of the bonds had been deposited.
Bonds are
longer being accepted for deposit.
V. Ill, p. 895.
For readjustment
plan of committee see below and V. Ill, p. 895.
Buffalo Committee for Coll Trust 4s.—Chairman H. T. Ramsdell, Wm. H.
Crosby, J. C. Dann, Charles R. Huntley, John H. Lascelles and L. P.
Williams, Sec., 284 Main St., Buffalo, N. Y.
Depositary, Manufacturers
& Traders National Bank, Buffalo.
V. 108, p. 578.
The last-named committee, in a circular says in brief: The deposit agree¬
ment of the (McDougall) committee, dated Dec. 10 1918, fails to limit the
expenses of the committee for the compensation of itself and legal counsel,
out of a total of
no
and also prevents any
depositor from withdrawing, unless 30% of
depos¬
ited bonds file written objections to the plan adopted by that committee.
the
The
Buffalo
committee has
that
if the
deposit agreement of the
committee headed by E. C. McDougal is properly modified, all the bonds
in their [the Buffalo committee's] hands will be immediately deposited
with said committee.
V. 108, p. 578.
Committee for Coll. Trust 6s.—Chairman, Geo. de B. Greene;
J. W.
Wheeler, Geo. H. Taylor; Sec'y, Thos. J. Walsh, 43 Exchange Place, N.
Y.City.
Depositary: Bankers Trust Co., N. Y. V. Ill,p.493, Over95%
of the notes had been deposited to Aug. 1920.
Sale of Collateral.—Default having been made in the payment of int. due
jan. 1 1'919 on the coll. trust 4% bonds and default having been made in the
payment of principal of said bonds, which by declaration became due April
23 1919, notice was given in April 1919 that the Guaranty Trust Co. of
N. Y., as trustee, would offer for sale at public auction on May 28 1919,
all the securities pledged under the indenture as follows: (1) $16,707,500
capital stock of International Ry.; (2) $60,000 Tonawanda St. RR. 1st 6s;
(3) $518,000 Niagara Falls & Suspension Bridge Ry. 1st 6s; (4) $22,500
Niagara Falls Whirlpool & Northern Ry. 1st 6s; (5) $40,000 Tonawanda
Electric RR. 6% bonds; (6) $4,344,000 International Ry. ref. impt. 5s.
These securities were offered for sale in one lot and as an entirety, and after
various postponements were sold to the bondholders' committee (see above)
on Nov. 28 1919 for $2,000,000.
V. 109, p. 2172.
On April
1
1919 the company defaulted on the payment of $100,000
principal and also the interest on all of the outstanding serial 6% secured
notes dated April 1 1916.
On July 16 1919 the $1,634,000 coll. trust 4s
pledged thereunder, were sold at public auction to the protective committee
(see above—V. 108, p. 2122) for $300,000.
V. 109, p. 270.
We have
eliminated the serial 6% notes from the table below.
The $2,000,000 6% coll. notes due Aug. 1 1920 were not paid when due
nor was the Aug. 1 int. thereon paid.
V. Ill, 493.
As a remit the $2,667,000 ref. & impt. 5s pledged under this issue were sold at public auction on
Sept. 22 1920 to the protective committee for these notes (named above)
for $500,000.
V. Ill, p. 1278.
The $2,000,000 6% coll. trust notes due
stated
Aug. 1 1920 have been eliminated from the table below.
Refunding
Plan.—Owing to existing financial conditions the co. was
up at maturity the $800,000 Lockport & Olcott Ry. 1st
1920.
The co. proposed therefore, that the holders of
this issue exchange their bonds par for par for an Issue of «S800.000 5-yr.
7% coll. trust bonds of the International Ry., to be secured by $1,200,000
of that co.'s ref. & impt. 5s.
The 5-yr. 7s will be convertible into Internat'l
Ry. ref. & impt. 5s at the rate of $3,000 ref. & impt. bonds for each $2,000
of 7% coll. trust bonds.
This plan is subject to the approval of the N. Y.
unable
to
take
mtge. 5s due July 1
P. S. Comm.
For further details see V. 110. p. 1972.
|
Readjustment Plan.—The protective committee (E. O. McDougal, Chair¬
man) for the coll. trust 4s, in Aug. 1920 notified the depositors that a new
oct., 1920.
ELECTRIC
amendment had been
follows:
added to the protective agreement which provides
as
The committee shall have power to cause the stock of the International
Ry. Co. to be increased from $16,707,500 to an amount equal to 95% of
principal amount of the 4% bonds of the Traction Co. deposited under
protective agreement, 1118,100,000 out of a total of $18,335,000 had
been deposited to Aug. 15 1920 and no more bonds are
being received for
deposits.—Ed.] and to transfer and deliver all the stock of the railway co.
under a 5-yr. voting trust agreement, the trustees to be
appointed by the
committee.
The co. has applied for auth. to increase its
capital stock
from $17,000,000 to $17,500,000.
V. Ill, p. 792, 990.
The committee proposes: (a) to offer to each
depositor of a $1,000 4%
bond of the traction company the
opportunity to purchase $200 in Refund¬
ing & Improvement 5% bonds of the railway company for $100 plus accrued
interest on such bonds, and also the opportunity to
purchase v. t. c. For 9
shares of stock of the railway company for $100;
(6) to sell and deliver to
underwriters or others at the prices above stated the
portions of said 6%
bonds and said v. t. c. which the depositors do not elect to
purchase in
accordance with the offers to be made to them: (c) to
apply the proceeds of
said 5% bonds and v. t. c. to the payment and
discharge of the obligations
and expenses of the committee (including the
compensation of its members)
and pay over and transfer to the
railway company, or to trustees for its
benefit, the balance of such proceeds and all other cash, securities and
property which may remain in its hands.
For full details of plan and
amendment, see V. Ill, p. 895.
Some opposition to this plan developed
on the part of the committee (see
above) representing the 6% serial secured
notes (V. Ill, p. 990) but as objections by holders
representing 30% of
the bonds deposited had not been filed by
Sept. 7 1920, the amendment
was adopted.
V. Ill, p. 1183.
the
the
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock, common, $10,000,000$10,000,000
See text
Pref 7% cum $5.000,000
Q-M
4.468.600 Mar *20. 1H
Pref 4 % cum__
Q-M
531.400 Mar 20.1 %
Coll trust, $18,335,000
4 J-J
16.399,000 July 1 1949
—/1912
(Guaranty Trust Co.,New York. Trustee.
Serial debenture notes, $500,-f 1913
6 F-A
250,000
See text
000 ($1,000), gold
cjlnt. at Chase Nat. Bank, N. Y., or Fidelity
I
Trust Co. of Buffalo, Trustee.
Bonds and Notes.—$18,335,000 coll. trust bonds were issued, but $1,940,000 have been re-acquired, of which $1,634,000 were pledged as collateral to
the Serial 6% secured notes (but see under "Default
above).
The deben¬
ture notes of 1913 mature $50,000 annually beginning Feb. 1 1914.
$250,000 have been retired.
Callable at 100 & int. on any int. date.
Dividends.—First div. of 2% on old 4% pref .stock was paid Feb. 1 1913.
also an additional 4% on account of accumulated divs.; July, 2% and 2%
add'l.
In 1914, Feb.. 2% and 2% add'l; July, 2%.
In 1915, Feb., 2%;
July, 2%.
In Oct. 1915 new 7% pref, stock was offered in exchange for
old stock with accum. divs. thereon.
AH but $531,400 of the stock was so
exchanged and in June 1916 the 42% accum. divs. on unexchanged stock
were paid in cash.
4% was paid regularly on the old pref. stock to and incl.
April 1918; none since.
New 7% pref. stock is cumulative from Nov. 15
1915, and a div. of H% was paid thereon Jan. 15 1916; in March 1916 paid
l%% and same rate quar. to and incl. April 1918.
None since.
Initial
guar. div. on com.—1%%—paid June 30 1916; Sept. ,1%; Dec., 1)4%In 1917, March, 1%; June, 1%; Oct., 1%.
Jan. 1918 dividend passed.
Franchises.—Nearly four-fifths of the mileage in Buffalo, including all the
most important lines, is maintained, it is stated, under franchises in per¬
RAILWAYS
344,000 ref. A impt. 5s of the Internat. Ry., $60,000 Tonawanda St. Ry.
1st 6s, $40,000 bonds of Tonawanda
Elec. RR., $518,000 bonds of the
Niagara Falls & Suspension Bridge and $22,500 bonds of the Niagara Falls
Whirlpool & Northern were pledged as security for the International Trac¬
tion collateral trust loan (but see above under "Sale of Collateral").
REPORT.—For
petuity or upon property directly owned, only 47 miles of minor trackage
being operated under franchises having less than 25
The franchises of the lines outside of Buffalo
years
are
[from
19161
either for
to
various
Consolidation of Constituent Companies.—On
Company
was
1915.
$6,839,974
$3,480,543
425,484
Operating income
$1,058,905 '$2,852,122
$3,253,240
Int., rents, sink, fds.,&c_$2,213,163
$1,901,700
$1,862,709
Renewals, Ac., reserve.. $115,608
$293,323
$522,708
7% pref. stock dividend.
78,200
312,802
312,452
4% preferred dividends—
5,315
21,256
21,456
Common
dividends
—....(3%)300,000(4^)425,000
$2,933,946
$1,866,960
$396,582
38,657
177,910
Operating
and
consolidation of the following companies, whose shares had previously been
held by the Traction Co.; V. 74, p. 427.
Buffalo Railway Co. (after Buffalo
Traction
and
Buffalo
Bellevue
&
expenses
,
Balance, surplus—_def.$1,353,381
$23,041
$108,914
$453,837
Earnings of International Traction Co. for cal. year 1918; Income from
$83,538; other income, $441,157 total income,
•524.695; surplus applicable for note interest, none.
Latest Earnings.—Of International
Railway Co. for 3 mos. ending
March 31 1920: Gross, $2,418,022; net, after
taxes, $325,180; other income,
$5,093; deductions, $408,096; bal., def., $77,823.
ROAD, Ac.—Length of line, 245.833 miles (owned, 220.990; leased, 18.190;
trackage, 6.647); total miles of track, incl. second track, crossovers, sid¬
ings
Ac., 436 miles.
Gauge, 4 ft. 834 In.
Rail (steel) 45 to 145 lbs.
1,143 cars, of all classes, including 955 passenger cars.
Greater part of
electrical energy used is purchased from the
Niagara Falls Power Co. and
International Ry. stock,
,
its allied
E.
oo
the Buffalo General Electric Co.
OFFICERS of International Railway
Co.—Pres.,
J. Dickson; Y.-P. A Gen. Counsel, Thomas
,
•,
H. G. Tulley; V.-P.,
Penney; Sec., N. N. Oille;
Treas., P. C. Reinhardt; Aud., Charles A. Chavel.
OFFICERS of international Traction
Co.—Pres.,
V.-Ps., Rodman E. Griscom and \. P. Forbes; Sec.. N. N. Oille; Treas.
P.
C.
Reinhardt; Aud., Chas. A. Chavel.—V.
7l83l012?8 261' 561' 1972' 22921 V' 111'
109, p.
1891,
1986, 2172;
P* 188' 493' 692' 792' 896' "°'
burlington, iowa.
BURLINGTON
RAILWAY
&
LIGHT
CO.
ORGANIZATION.—Incorp. In 1912 in Delaware
and acquired the Peo¬
ple'* Gas & Elec. Oo. and old Burlington Ry. A Light Co. Does entire
municipal and commercial electric-lighting and power business In Burling¬
ton, Delta, Martinsburg, Fremont, Mediapolis, Wapello, What
Cheer,
West Burlington, Sigourney, Hedrick,
Thornburg, Winfield, Milton and
Morning Sun, all in Iowa.
Also owns steam-heating and gas
plants.
Railway franchises are perpetual, except for two suburban extensions of
minor importance.
Lighting franchises in Burlington expire in 1927.
STOCKS AND BONDS—
Date.
Interest.
Outstanding
Maturity.
Common, $3.000,000
$1,500,000
Preferred $2,000,000 6% cum
Firat mortgage. $7,500,000. gl
($1,000)
sinking
6 J-J
1912
fd—_c*t?J
Bonds.—Remaining bonds
1.000,000
1.738.000 Mar
5M-S
Int. at
1
1932
Equit. Tr. Co., N. Y., Trustee.
for additions,
betterments or extensions,
under certain restrictions, at 80% of cost, i Callable at 105 and int. on
any
Int. day on 3 months' notice.
Sinking fund of 5% of gross earnings began
July 1914.
V. 95. p. 678.
years
are
ending Dec. 31:
1917.
Gross revenue.
Net (after taxes)
1916.
$431,580
176,124
1915.
$427,285
186,703
1914.
$405,352
182,508
1913.
$400,818
182,373
$366,614
177.349
ROAD.—Owns and operates about 23
miles
of track in Burlington
Its suburbs.
66 to 85-lb. T rail.
62 passenger cars.
OFFICERS.— Pres., Geo. H. Hlgbee; V.-Ps., E. O. Walsh and M. A.
Walsh; Sec. & Treas., J. W. Walsh; Gen. Mgr., C. H. Walsh.—V. 108,
p.
and
2240.
Lancaster had first been merged in the same).
Buffalo & Niagara Falls Electric Railway.
Buffalo &
..—$7,502,776
$5,912,848
531,023
EARNINGS.—For
Feb. 20 1902 the Interna¬
incorporated In New York with $10,120,500
in Aug. 1902 this was increased to $17,000,000, of which $10,707.500 has been issued (aH owned by the International Traction Co.), as a
stock,
1918.
,
Taxes
long-term periods or are without time limit.
tional Railway
ending Dec 31 (1917 report in V. 107, p. 398):
year
1917.
1916.
$8,255,279
$7,818,677
$4,765,267
$4,030,282
637,890535,156
m
Total income...
-
run.
19
Lockport Railway (after Elmwood Ave. and Tonawanda Elec¬
tric Railway had been merged).
Buffalo Tonawanda & Niagara Falls Electric RR. Co.
burlington, vt.
BURLINGTON
Lockport & Olcott Railway.
Niagara Falls & Suspension Bridge Railway (after the Niagara Falls
Whirlpool & Northern Ry. had been merged In it).
Niagara Falls Suspension Bridge Co.
On July 1 1902 the International Ry. Co. acquired by purchase the
Niagara Falls Park & River Ry., the Clifton Suspension Bridge Co., the
Lewiston Connect. Bridge Co. and Queenston Heights Bridge Co. and In
Dec. 1912 merged the Electric City Ry.
In April 1913 the Crosstown
St. Ry. was also merged, thus leaving the International Railway Co. the sole
operating company and the International Trac. Co. the holding company.
TRACTION CO.
STOCK AND BONDS—
Stock. $200,000 (par $100)
Date.
Interest.
Outstanding.
Maturity.
Q-F
$200,000 Aug.*20, 2)4
30-year bonds. $500.000—_tf 1912
5%
350.000
1942
Bonds.—The remaining $150,000 bonds can only be issued with
permis¬
sion
of Public Service Commission.
Dividends.—Previous to 1903, 4%
yearly.
From 1903 to 1912. 6%
In 1912. 1913 and 1914, 8%.
In 1915, Feb., 2%; May. 2H%,
quar. since to and Incl. Aug. 1920
Year endino June 30—
Gross.
Net.
Charges.
Divs.
Surplus.
yearly.
and
same rate
•
Year end. Dec. 31 1919—$158,825
1917-18
153,947
1916-17
152,261
$23,353
$17,500
$20,000df$14,147
61.371
17.500
20,000
23,871
61,434
17,500
20,000
23,934
ROAD.—Owns 12 miles of track in city of Burlington.
Rails'60, 70
and 75-lb. T.
Owns 14 closed cars, 17 open cars, 2 convertible cars, 2 snow
plows, 1 sweeper.
OFFICERS.—Pres.. Ellas Lyman; V.-P. & Treas.. Jno. J. Flynn; Sec..
-
Liens of Constituent and Owned Companies.
BONDS—
Date.
Interest.
Outstanding.
Maturity
Internat Ry ref A Imp mtgel
1912
5 g M-N
$16,662,000 Nov 1 1962
$60,000,000, gold
c*&r/Bankers Trust Co., New York, Trustee.
Buffalo
Ry
1st
con
mtgef 1891
5 g F-A
5.000.000 Feb 1 1931
($1.000)i$5,000.000,g,c*&r{lnt. at Co.'s office. Buff., E.W. Clark A Co.,
i
I
Phila., or Bankers Tr. Co., N. Y.t Trustee
aTonawanda St RR 1st M.l 1892
6 J-J
60.000 July 1 1922
(closed)
/Interest at company's office, Buffalo.
O. W. Brownell.—V. 94. p. 1185; V. 109. p. 676, 981.
butler, pa.
-
aTonawanda Electric RR
lstj
OGrosstown St
(closed)
Buffalo
gu
6 A-O
Ry 1st mtge, g\ 1892
5 g M-N
& i--.
c»]Int. at Metropolitan Tr. Co.^ N. Y.. Trustee.
1st
mtge,
1898
Int. at
Buffalo Bellevue & Lancaster
mtge (redeemable at par)
Buff A Niag Falls Elec Ry—
1st M. $750,000. gold
gold. $500.000
&
Olcott
Ry
5 g
J-D
1
1897
5 J-D
215.000 June 1
Int. at Buffalo Trust Co., Buffalo.
Equitable Trust
1900
5 g J-J
1st
1948
1927
Co., New
York, Trustee.
800.000 July 1 1920
Int. at Guaranty Tr. Co., N. Y.. Trus.; also
at Buffalo. Guar., p. & I., by Inter. Trac.
1897
5 g J-J
300.000 Jan 1
1928
(closed),
gold
($1,000)
c*
Niagara
Falls
Suspension
Bridge. Clifton Suspension Toronto General
Int. at American
Bridge
Lewiston Connecting Bridge
1898
5 g A-O
Co,
Queenston
Heights Toronto General
Int. at American
Bridge Co
0 J-J
aNlag Falls & Susp Bridge Ry^ 1893
6 J-J__
aNlag Falls Whirlpool & No Ry 1894
Real estate bends* and mort-f
6 M-N
mortgage
—
-
gages
673,000'Dec
Metropolitan Tr. Co.. N.Y., Trustee.
1895
5 g J-J
750.000 July 1 1935
Interest at Bankers Trust Co., New York
1898
5 g J-J
500.000 July 1 1938
c
Buffalo & Lockport 1st mtge,
Trusts
Corp.,
Trustee.
Exch. Nat. Bank, N. Y
125,000 Oct 1
1928
Trusts Corp., Trustee.
Exch. Nat. Bank, N. Y.
518.000 July 1 1923
22,500 July 1 1923
250,000
xl919
(Int. at Fargo A Gary Estate. Buffalo.
Real estate bonds and mtges—
a
40,000 April 1 1927
Buffalo.
62,974,000 May 1 1932
p
Traction
(closed)
Lockport
1895
(Interest at company's office,
mtge
A-O
30,000
6 Of this $350,000 owned
x
allowed to remain for the present.
Bonds.—Of the International Ry.
but
refunding and Improvement bonds,
$10,991,500 are reserved to retire prior lien bonds and $2,667,000 were
pledged as security for the Trac. Co. notes of 1917 but these were bought
in by the protective committee at public auction as noted above.; remain¬
ing bonds may be issued only for add'ns, impts., Ac., with consent of the
P. S. Comm.
Coup, bonds in denom. of $1,000 and reg. bonds of $1,000
and multiples.
Red. on any int. date at 110 and int.
Int. payable at
office or agency of the company in New York.
Exempt from N. Y. State,
county and municipal taxes.
Sk. fd. began in 1912 and will provide by
July 1 1949 sufficient funds to retire all except $641,000 of the outstanding
underlying bonds to a total par value of $12,641,500.
The bonds are
secured by a 1st M. on about 43 miles of track (incl, 15)4m. in Buffalo) and
by a mtge. on remaining property, subj. to divisional bonds.
They will
also be a 1st M. on the new line between Buffalo and Niagara Falls.
V. 96,
p. 62; V. 103C p. 1032.
The Tonawanda Elec. RR. 1st 4s due originally
on Apr. 1 1907, were extended as 4s to Apr. 1
1917 and in 1917 again ex¬
tended to Apr. 1 1927 at 6%.
The Niag. Falls & Suspen. Bdge Ry. bds.
of 1893 and Niag. Falls A Whirlpool Nor. bonds of 1894 given in the table
above matured in 1903, but were acquired by the International Traction
Co. and extended ten years, and then deposited with the Guaranty Trust
Co. of New York as additional security under the International Traction
Co. collateral trust mtge.
These were again extended, maturity now being
July 1 1923 and bearing interest at 6%.
All the outstanding stock and $4,-
Ry.
(the Interurban
1917—see
Pitts.
Division of which
Mars
&
Butler
Ry.,
was
sold
under foreclosure
successor
under
co.,
The
May 9
Pittsburgh).
property of the Butler Pass. Ry. was taken over by the holders of
$500,000 1st mtge. 5% bonds due 1936 aud reorganized.
Fare Increase.—In April 1920 the company filed with the Penn. P. S.
Comm. a new tariff effective May 1 1920,
increasing cash fares from 7 to 10
cents
and ticket rates from 6M
to 7)4
cents.
V.
110, p.
1748.
STOCK AND BONDS.—
Date.
Interest.
Outstanding.
Maturity.
Stock $300,000 _($50)——T-_r -r-r
.........
$250,000
First mortgage $300,000 gold
1918
5 g J-J
250.000 Jan
11948
($500 & $1,000)—c*Ar.tf Int. payable at Butler Co. Trust Co., trustee.
Butler, Pa.
Bonds.
Not subject to call and
.
no
sink. fd.
ROAD.—Operates 13.28 miles of track
2)4 miles T). 65-lbs.
Gauge, 5 ft. 2 in.
in Butler.
Rail
(girder, except
OFFICERS.—Pres.. Ferd. Reiber; V.-P., J. V. Ritts; Sec.-Treas. and
Gen. Mgr., R. E. Sprenkle.—V. 110,
p. 1748.
butte, mont.
BUTTE ELECTRIC
RAILWAY.—Trolley.
This company was incorporated in West
Virginia In December 1899 as
•accessor of the Butte Consolidated
Ry., sold at foreclosure.
Interest due on Mar. 1 1915 was paid Sept. 1 1915 and subsequent cou¬
1921
AH owned by International Traction Co.
by International Railway Co.
At last accounts no definite date had been set as to extension,
BUTLER RAILWAYS CO.
ORGANIZATION.—Incorp. July 1
1917 in Penn. as successor to
the Butler Passenger Ry., the City Division of the
Pittsburgh & Butler
pons due March 1 and Sept. 1 1915 and March 1 1916 were
after they became due.
Subsequent coupons paid when due
Sept. 1918. Reports state that the March 11919 int.
108, p. 1822.
No later information.
V.
Strike
Settlement—Wages.—V. 107,
Fares.—In Aug. 1919
was
p.
V. 109, p. 676.
to increase fares to 8 cents.
V. Ill, p.
STOCK AND BONDS—
Stock, $1,000,000 (par $100)
$900,000, gold,
not
paid 6 months
up to and incl.
paid when due.
694; V. 110, p. 2657.
auth. by the Montana P. S. Comm. to increase
fares from 6 to 7 cents.
1st M,
each
was
Date.
$1,000?
Effective June 10 1920,
was
auth.
73.
Interest.
M-N
Outstanding.
Maturity.
$1,000,000 Oct '06, 2%
1900
5 g M-S
900.000 Mar 1 1925
c»cptlInterest at W. A. Clark A Bro., Butte.
Bonds.—May be called for payment on Mar. 1 1915, or on any interest
day thereafter.
Sinking fund of 10% par value of bonds began Mar. 1 1910.
Dividends.—In 1905, 4%; in 1906. May. 2%; Oct.. 2%; none since.
EARNINGS.—For cal. year 1919 and years ending June 30:
Year—
Oross.
Net (aft. Taxes).
Deprn.
Interest.
Balance.
$17,979
$60,784
$15,000
def.$87,805
132,523
53,758
44.667
sur.34,097
1916-17
106,097
51,435
42,687
sur.11,974
Passengers carried in 1919, 13,486,733.
ROAD.—Operates 39.0857 miles of track.
56-60-80-85-90-lb.
T rails.
61 passenger and 4 work cars.
OFFICERS.—Pres., W. A. Clark, Butte; V.-P ,W. A. Clark, Jr.; Sec. A
Treas., J. H. Anderson. 20 Exchange Place, N. Y.—V. 108, 1822; V. 109,
p. 676; V. 110, p. 2657; V. Ill, p. 73.
1919
1917-18
$700,321
700,866
722.357
'Vol. 111.
ELECTRIC RAILWAY^
20
ABB
MllET JCT.
(IOWA)
o
Harvard
Galena
Waukegan
o!
(Rockford
Winneoago
~o
Belvidere
C H IGAN
COLFAX
(IOWA)
Savanna
"O
NEW SHARON
De Kalbo
(IOWA)
Auroraj
Dixon
Clinton
Sterling
Haney^NAV-
MONTEZUMA
\ ^ ^
V. tl
(IOWA)
Holland.
South
O
Mendota
A
o
Jc|^
Thornton
,
1 Glenwood
'
heights
chicago
"H
&
pag.^o.
Beeeljer
/ ^ o£0^7tl*tJ^ Oglesby
Grand
Sollit't
Ridge
Braidwocd
Gran
momence
STREATOR
Kankakee®
<?
V
A
^py*Z»doc
Virile
<c,
Moffita
r
opktus Park
Pogue
st.anne
O*
<S»/
^ Park
Rowland
Koster'
\Wichert
Pontiac
▼
f
LACa
JU J Crete;
^ j Goodenow
ornrwA~*
fair
/Coal
Papineau
ro<«v///e
/ //
Julian
Martinton
Gilmano
Foresman
.
Pittswood
Forrest
oaks
Chute
Kents
i
percy jc.
JGoodland
i
•
t£e>'
WA7s£K4
I
Loaj(
<V 6 Wadena
Lochiel
i
Barce
'Abingdon
—O
swanington
ro^St.Augustlao
GLENWOOD
Qtain ®
y
*i
(IOWA)
9Cfe /
Cf0
•#»/,, */V
&e/l, v*"
-o
DES MOINES
'4/
(IOWA)
XI—'.V' W I
O O II
R
gl Wellington
£ iChatterton
Hoopeston
ixwiiniuu
ol
%
£
Rossvjll'e Jc.
I
j u
-
.
d| yville
Independence
j-Iadc
attica
4% %jT^f AT
feeul.te
OSKALOOSA
(IOWA)
f
Winthrop
5 iKickapoo'
'A. **/+ '
r
f Oxford
Q".. — .-
z
A
U v<
d lav i
a)
Silica
Rob
Roy
Stonebluff
VEEDERSBURG
PAP1LLON
5 IKingman
(neb.)
irUfmo* K^*
& West Union
tt
{West Meicher
RALSTON
'
(neb.)
Mecca
^fbrijmaBjV^
Coxville
/oT
HijlsdaloJ J
ljocan /
Norton
preek]
SO. OMAHA
Kosedale
coal
Jaekson
(NEB,)
McClelland
Lvford/
Kellers; 3
•leston
LOUISVILLE
(neb.)
/^Baxter Mattoon
OTTER, CREEK
1 Clarksburg
r
Gillespie
Jersey Yllle
JBenld
TERRE
haiItit
'
Watson
Ehrlieh
I
Yfeung
Vandalia
Pimento
W<2eto
a
Vanda]
St.
& St.
Elmo!
*■
New
Sh\burn i
Clay City
Coal City
wlHubbell
3
Pittsburg
sullivan
s u lli van
TOPEKA
/ Loogootee
!_( KANSAS)
joh nstown
St.Peter
Robinson
! Paxton
C
Patoka
f
ih
I
J Kinmundy
3 Lester
<
5 Slinkard
Q
S Elnora
-
Hyatt
Graham
Smitl
Brubaker
Lajvrenceyille
Jordan
j
Hawkins
vincennes
»o,
Washington;
J Purcell
north
Mayville
I Cypress
missouri
TRANSMISSION
ST. LOUIS'
!
Missouri
PERRY CENTER
Rogers
Hazleton
Miller
FRANXFORD
HEW LONDON
Tkomas
Sandy Hook
IBecker
LINES
Welch
«Elliston
Plumtner
•al't®wn
Bu8S€r°n
gEmisan
(MISSOURI)
•°
I
o
J Carlisle
11«
CITY
—
a
Greenville
JEFFERSON
SALINE CITY
~
Eel River
Smndard
James
Ashboro
k7
M
.
Faraiysburg Jw
STAUNTON
Lane
brazil
Eureka
J
.
WICHITA
(KANSAS)
Harpers
t '«
Dewey
Holland /
o/Moccasin
w
(kansas)
Conipton
Jc'.s
Ellsworth*! ?
J Mode
ATCHISON
\
Lanei.% %
Evans
bluff
Beech Grovt
ClAiton
Blackburn
Clark
,
Hasmer
Patoka
0"Waterlo<
Little
Princeton/ Massey
King
City Properties controlled
/oakland city
Gudgel
t Somerviile
Fwt
by the Illinois Traction Co.
o
Sparta
Bruch
/
Street Railway
Mackcy
Rosebud
Elberfeld
O
ig Elliott
Electric Light
Iglehart
@
Street Railway & Electric Light
E8
Street Railway, Electric Light and Heat
A
Street Railway, Electric Light and Gas
St.George
Straight Line Jc.
EVANS VILLE
X Street Railway, Electric Light, Gas and Heat
A Electric Light and Gas
f~~l Electric Current Sold
X
EXPLANATION
Local Companies
Interurban Ljnes
Electric Light and Water
I533Q
I
Hemderso*
I
to
• •••to
Electric Light
Transmissiwp Ljnes
,
Electric Light, Gas and Heat
Interurban Railway and Transmission Service
,
ILLINOIS" TR ACTlW SYSTEM
CHiCAGO,
OTTAWA
&
PEORIA
RAILWAY
Marion
Street Railway, Electric Light, Gas, Heat and ice
■A* Street Railway, Ei££tfifi Uflht. Gas and Ice
SHOWING CONNECTIONS WITH
CHICAGO
&
EASTERN
ILLINOIS RAILROAD
CHICAGO, ROCK ISLAND & PACIFIC RAILWAY
TERRITORY
IN
ILLINOIS
T
U
C
K
t
Y
ELECTRIC
Oct., 1920.]
$50,000
mortgage, 1910 (ntf). 5s, J-J, $100,000 due July 1 1930.
pref.;
first
year
1918 and years ending June 30:
Int.&Tax. Divs. Bal.,Sur.
Gross.
Net.
$5,996
•
$2,000
$930
$43,154
$8,927
6,072
2,500
333
41,926
8,905
1916-175,791
2,500
482
42,411
8,773
ROAD.—Calais Street Ry., lower wharf to upper bridge, Calais, 4 miles;
REPORT.—Calendar
Fiscal Year—
Calendar year 1918
1917-18
Stephen Electric Ry.. Mllltown, N. B., to St. Stephen, N. B., 3 milee:
total, 7 miles.
The St. Stephen Electric Street Ry. Is a separate corpora¬
tion, but Is owned entirely by the Calais company.
9 cars.
OFFICERS.—Pres.. George A. Curran;
Sec., Treas. A Gen. Mgr.
Benjamin Y. Curran; Supt., O. F. Pray: all of Calais, Me.
BLUE HILL STREET RAILWAY.—A trolley road.
Operations Suspended—Receiver, &c.—In March 1920 George Spalding,
was reported that the road had been sold to a bondholders' committee for
$100,000.
V. 110, p. 2487.
Later reports, however, indicated that the
road had not yet been sold but would be shortly offered for sale as junk.
V. Ill, p. 989.
No later information.
New Control.—On Nov. 11917 Michael A. Cavanaugh of Roxbury. Mass.,
.
purchased the holdings of Stone & Webster (former Managers).
Fares.—On Dec. 15 1918 the co. increased rates in one zone to 8 cents
and in 3 zones to 7 cents, fares in all other zones being raised 1 cent.
Com¬
pare V. 107, 0. 1836.
TJie receiver in February, 1920, filed a schedule
effective March 1 1920 increasing fares to 7 cents.
V. 110, p. 560.
r2l
STOCK AND BONDS—
Maturity
Outstanding.
Interest.
Date.
$300,000
First mortgage. $500,000,
f 1903
5 g A-O
250,000
Oct 1 1923
gold
\Int. at Old Colony Trust Co., Boston, True
Bonds.—Callable as a whole at 115 and int.
Non-taxable In Mass.
Stock, $300,000 ($100)
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
Exp.dc, Taxes.
Net.
1918
$82,381
$78,304
88,474
1917
def.$4,077
6,956
81,518
Int.,&c.
$21,156
21,498
Deficit.
$25,233
14,542
ROAD.—Operates 19.7 miles of track from Mattapan, where connection
the Boston Elevated Ry., to Canton and Stoughton, at which
point It connects with the Bristol A Norfolk Street Ry. and the Bay
Ry.
Standard gauge.
24 cars and 2 snow plows.
Franchise
perpetual.
Power station capacity, 487 k.w.; also purchases power from
Bay State Street Ry.
Operates the Sharon & Norwood St. RR. for the
citizens of Sharon, for the cost of motorman, conductor and a given amount
per mile.
V. 109. p. 171.
OFFICERS.—Pres. and Gen. Mgr., Michael A. Cavanaugh; V.-P. and
Treas., Ray C. Cavanaugh; Clerk. James P. Dunn. Taunton. Mass.—
V. 107, p. 1836; V. 109, p. 171; V. 110, p. 560, 1288, 2487; V. Ill, p. 989.
is made with
latter
State Street
On 2d pref. paid 3% s.-a. from Sept.
None to April 1919, when 3% was paid.
April and Oct., 3%.
Oct., 3%.
CAPE
MAY,
N. J.
In Dec. 1917 the U. S. Navy took over the physical properties
of this co.
Passenger Ry., extending from Cape May Point to
Sewell's Point, 7 miles, which had been sold for junk at receiver's sale In
April 1917.
V. 105, p. 1616, 2271.
CEDAR
IOWA RAILWAY
RAPIDS, IOWA.
& LIQHT CO.
ORGANIZATION.—Is
a
City Ry. & Lt. Co. and has
following companies
re-incorp. in 1912 of the Cedar Rapids A Iowa
acquired the properties formerly owned by the
Belle Plaine Elec. Co.
|
Nevada (Iowa) Electric Co.
Perry Elec. Lt., Pow. & Heat Co.
Tama & Toledo Electric Power Co.
light and power properties in Cedar
Rapids, Marshalltown, Boone, Marion, Perry, Belle Plaine, Blairstown.
Chelsea, Tama, Toledo and Nevada, and supplies more than 50 towns
through its high-tension lines; interurban road between Cedar Rapids and
Iowa
City and Cedar Rapids, Lisbon and Mount Vernon; the local'street
railways in Marshalltown and Boone; the
gas
plant in Marshalltown and
the heating properties in Cedar Rapids, Boone, Marion and Perry.
Inter¬
urban road is on private right of way.
Also does a freight business, ex¬
changing freight with four steam roads.
Has
a
company,
contract
with
CENTERVILLE, IOWA.
IOWA
SOUTHERN
CO.
UTILITIES
Change in Control.—In May 1919 David G. Fisher & Co. of Davenport,
la., public utility engineers, purchased the holdings of D. C. Bradley and
Frank S. Payne, Pres. and Treas.-Gen. Mgr., respectively.
The trans¬
action is said to have involved in the neighborhood of $450,000 and the
formal transfer of control was made on May 15 1919. V. 108. p. 1940. 2245.
ORGANIZATION.—Organized in Maine in 1905 as the Centerville Light
Name changed to present title in 1916.
In 1916 acqured
& Traction Co.
the property of the Centerville Albia A Southern Ry.
Owns and operates
without competition the street railways serving Centerville, and interurban,
and freight electric railways extending from Centerville to Albia,
Iowa, with about 32 miles of interurban track.
Has also acquired all the
passenger
property of the Moulton Elec. Co.. Leon Elec. Co., Mt. Ayr Lt. A Pow.
Co., Lenox Elec. Co., Clearfield Elec. Co. and Blockton Lt. A Pow. Co.,
thus owning all the public utility properties serving more than 27 communi¬
ties, with an estimated population of 55,000, Including Albia, Centerville,
Moulton, Moravia, Allerton, Leon, Mt. Ayr, Clearfield and Lenox.
Franchises run beyond life of bonds and contain no burdensome restrictions.
STOCK AND BONDS—
Common
stock
for the Interchange of
—
6%
M $2,500,000 sk fd goldf 1916
6 g A-O
($100, $500 & $1,000) c».tf{lnt. In N. Y. or Chicago.
redeem at 105 and Interest I
of Illinois, trustee.
Co. (V. 100, p. 2171) an allied
permanent extens., Ac., when net earnings are twice int. charges on all
bonds outstanding, including these proposed.
A minimum maint. charge
for railway properties of 17% of gross earnings from railway operations, Is
provided.
Sinking fund began March 1 1919, of 10% ef net earnings
for the previous year, but not less than 1)4% ®f the average amount of
1st M. bonds outstanding during the year to retire bonds or for permanent
Improvements.
V. 104, p. 73.
The debenture bonds are secured by mort¬
gage, subject to the first mortgage bonds.
EARNINGS.—For years ending
Date.
Interest.
Q-M
Outstanding.
$1,700,000
Maturity.
See text
4,009,054 Sept '20,1 ^
188,000 June 1 19^
Bk., Chicago, co-trustee.
000)
c*tf I
Int. at Harris Tr. & Sav. Bank, Chicago.
1st & ref mtge $10,000,000 gf 1912
5 M-S
5,460,000 Sept. 1 1932
($500 and $1,000)
c*tfl Harris Tr. & Sav. Bank. Chicago, trustee.
2-year coll notes $2,000.0001 1919
6 F-A 15
731.500 Aug 15 1921
($500 and $1,000)
c*.tf/Harris Trust & Sav. BaDk, Chicago, trustee.
Bonds.—Of the remaining 1st & ref. bonds, $188,000 are reserved for prior
lien, $950,000 are pledged as security for the 2-year notes and remaining
bonds are for extensions and additions at 80% of cost for acquisitions, Ac.,
under certain restrictions.
Subject to call on any interest date at 103 and
Interest.
Sinking fund 1% per annum of bonds out, Mar. 1 1916 to 1921;
1922 to 1926, 2%: 1927 to 1931, 3%.
Sinking fund to be used'for re¬
demption of bonds or for extensions and betterments.
V. 95, p. 750.
Notes are callable in lots of $100,000 or more on 30 days' notice at 100J4 and
interest.
Interest is payable in
New York or Chicago.
Secured by
cum
_
Oed Rap & Iowa City R & Lf 1903
g J-D
1st M$2,000,000 gold ($ 1Illinois Tr. A Sav.
_
„
1st & Ref. Mtge. bonds, the notes being Issued on the
basis of 77% of the face value of bonds pledged.
Remaining notes may b«
Issued as add'l 1st & Ref. Mtge. bonds are pledged In the foregoing ratio.
On Ced. Rap. A Iowa City Ry. A Lt. 1st M. a sinking fund began Apr!
1 1908 and bonds are
subject to call ht 107H A int.
See V. 77, p. 2279.
Dividends.—7% is being paid on pref. stock.
On common, in 1911 to
1914, 2% per annum.
In 1915. 4%; in 1916 and 1917 at the rate of 6%
per annum.
In 1918, J4 of 1 %.
None since.
EARNINGS.—Of combined properties year ending Dec.
31 1919,
gross,*$2,375,253; net, after oper. exp., taxes, maint. and renewals. $631.591; annual interest eharge (incl. notes), $309,609.
Earnings for year end.
March 31 1920 will be found in V. 110, p.
2568.
interurban road 45)4 miles long on private rightwide between Cedar Rapids, Iowa City and
Lisbon; also local street railways in Marshalltown. Boone and Cedar Rapids.
42 passenger cars, 30 freight; misc., 9; total, 81 cars.
Capacity of power
plants, 34,500 h. p.
In the fall of 1917 completed the installation of a
2,000 k. w. automatically controlled hydro-electric plant at Cedar Rapids,
the first of its kind to be put in operation.
The company is now installing
a 10,000 K. V. A. steam turbo generator at Cedar Rapids.
ROAD.—Operates
an
100 ft.
OFFICERS.—Pres., William G. Dows; V.-P. Treas,,and Isaac B. Smith.
Dows, all
716, 818; V. 106. p. 602;
V.-P.. John A. Reed; Sec., C.S. Woodward; Gen. Mgr., S. C.
of Cedar Rapids.—V. 103. P. 1508; V. 105. p.
V. 109, p. 776; V. 110, p. 2568; V. Ill, p. 896.
CEDARBURG,
MILWAUKEE NORTHERN
David G. Fisher;
Jacobson; Treas. A Gen. Mgr., E. F.
OFFICERS.—Pres.,
—V. 104, p.
^
Surplus.
$33,404
18,162
V.-P., Ray Nyemaster; Sec.,
Bulmahn; Aud., E. L. Shutts.
PA.
CHAMBERSBURG,
CHAMBERSBURd & GETTYSBURG ELECTRIC RY.
ORGANIZATION.—Incorporated In Pennsylvania Dec. 4 1900.
Interest.
Outstanding.
Maturity.
$225,000
5 M-N
225,000 May 1 1933
sink. fund--C*lInt. at Northampton Tr. Co., Easton, Trust.
STOCK ANiD BONDS—
Stock $225,000
not red., no
Date.
($50)
1st mtge. $225,000
($1,000),] 1903
EARNINGS.—For calendar years:
Gross.
Net.
Year-r-
1919—
1918
1917.
—
$16,538
11,165
9,073
$59,283
46,374
38,653
Oth.Inc. Int. & Tax.
$928
$11,958
3
12,447
232
11,733
OFFICERS.—Pres., M. O. Kennedy; Sec. and Treas., W.
Aud., F. J. Fell Jr.; Supt., D. B. Fretz.—V. 105, p.
CHAMPAIGN,
1905-
Operates in¬
L. Ritchey
2271.
ILL.
ILLINOIS TRACTION CO.—(See Map on page 20 )
ORGANIZATION.—Incorporated
In
Maine
on
May
13
1904.
On
10 1913 Increased the auth. common stock from $10,000,000 to
$15,000,000, In order to acquire control of the allied Western Railways A
Light Co.
Two shares of Railway A Light com. were exchanged for one
of Illinois Traction com., $4,510,400 of the $4,521,800 stock outstanding
being so acquired.
The pref. stock of the Railways A Light Co. remains
outstanding.
See V. 97. o. 1426,1504. Controls thefollowing_companles:
Jefferson City Bridge A Transit Co.
♦Atchison Ry., Lt. A Power Co.
Bloomington Decatur A Champ. RR •Jefferson City Lt., Ht. A Pow. Oo.
Bloomington A Normal Ry. A Lt.Co. Madison County Light A Power Oo.
Mills County Power Co.
♦Cairo City Gas Co.
Montezuma El. Lt.,Pow. A Htg. Co.
♦Cairo Electric A Traction Co.
Montlcello Electric Light Co.
♦Cairo Ry. A Light Co.
♦Mound City Light A Water Co.
♦Cairo A St. Louis Ry. Co
New Valley Junction Water A Lt. Co.
Central Lighting Co.
♦Northern Illinois Light A Trac. Co.
♦Chicago Ottawa A Peoria Ry. Co.
North Missouri Light A Power Co.
•Citizens'Ltg.Co., La Salle-Peru.
Omaha A Lincoln Ry. A Lt. Co.
Citizens Pure Ice Co., Jacksonville.
Oskaloosa A Buxton Elec. Ry. Co.
Clinton (111.) Gas A Electric Co.
Oskaloosa Light A Fuel Co.
Colfax Electric Light Co. (Iowa).
Oskaloosa Traction A Light Co.
•Consumers Water A Light Co.
Nov.
Peoples' Traction Co.
Peoria Railway Co.
♦Quincy Railway Co.
Danville A Southeastern Ry. Co.
RY.—An electric road.
Balance.
sur.$5,509
def. 1,279
def. 2,428
ROAD.—Operates 13.23 miles of track between Chambersburg, Stofferstown. Fayetteville. Greenwood and Mt. Union.
60 to 80-lb. T and
girder rail.
Gauge, 5 ft. 2)4 In.
Danville A Northern RR.
All franchises were
superseded by perpetual right? under indeterminate permits in 1919 and the
rates of fare are now solely within the jurisdiction of the Wisconsin R. R.
Commission.
Enters Sheboygan over tracks of Sheboygan Electric Co.
under perpetual contract.
Fare Increase.—In July 1918 Increased rates from 8 tickets for 25 cents
to 6 tickets for 25 cents, and in Aug. 1920 a straight 5-cent fare was put into
_
Dividends.
$25,200
25,200
73; V. 108, p. 1940, 2245,
Danville Cham. A Dec. Ry. A Lt.Co.
Danville A Eastern Illinois Ry.
WIS.
ORGANIZATION.— Incorporated in Wisconsin in
terurban system entirely on private right-of-way.
effect.
$85,213
81,591
PROPERTIES.—A steam plant at Centerville with 240 miles of hightension transmission lines; steam
heating system at Centerville; a gas
generating and distribution system at Centerville; a short street rail¬
way in Centerville, also electric railroads on private right-of-way connect¬
ing Centerville with Albia and Mystic, which do a freight and express busi¬
ness and are connected with transcontinental railway lines.
pledge of $950,000
of-way substantially
_
Bond,<&c.,Int.
$143,817'
124,953
power.
Common $3,000,000
Pref, $5,000,000, 7%
Dec. 31:
Net, aft. Taxes.
Yr.
Gross.
1919.---$528,495
1918
450,979
Cal.
Fare Increase.—In Aug. 1920 fares in Cedar Rapids were advanced from
V. Ill, p. 896.
BONDS—
Central Trust Co.
Bonds assumed■
10,000
—
Bonds.—A direct rirst mtge. upon the properties, Ac., now owned and
hereafter acquired.
Additional bonds may be Issued up to 80% of cost of
6 to 8 cents.
STOCK AND
Maturity.
$580,000
360.000
190.000
Serially
957.000 Oct 1 1933
Outstanding.
Interest.
Date.
$1.000,000
E.
the Iowa Electric
ending June 30:
Exp. & Tax.
Net.
Interest.
Divs.
Surplus.
$339,366
$190,010
$88,026
$42,000
$59,984
1918-19
293.427
180,679
84,350
96,329
1917-18
240,309
145,189
79,775
65,414
ROAD.— Will be 120 miles long, running north from Milwaukee to Cedarburg, where It forks, one branch extending to Sheboygan via Port Washing¬
ton and the other to Fond du Lac.
Operates 69 miles of track, including
8)4 miles In Milwaukee, between Milwaukee, Cedarburg and Sheboygan.
Is double-tracking
the line between Milwaukee & Cedarburg, 10 miles
completed.
Gauge, 4 ft. 8)4 In.
70-lb. T rail.
OFFICERS.—Pres., Wm. A. Comstock; V.-P. and Gen. Man.. F. W.
Walker; Sec. and Treas., Henry A. Haigh.—V. 92, p. 725; V. 107, p. 82.
Marshalltown Lt., Power & Ry. Co.
Boone Electric Co.
Cedar Rap. & Iowa Cy. Ry. & Lt.Co.
Marlon Light, Heat & Power Co.
Owns and operates entire electric
1911 to March 1913,
In October 1919, 3%.
Gross.
1st
and of the Ocean St.
--
$529,376
474,106
385,498
1919
Pref stock 7% $500.000
Serial debenture mortgage
CAPE MAY DELAWARE BAY & SEWELL'S POINT RAILROAD.
...
400.000
inclusive.
Year—
receiver for the company, announced that operations having beon suspended
he would have the road sold for junk.
V. 110, p. 1288.
In June 1920 it
--
Oct 20, 3%
600.000 Oct 20,3%
1,737,000 Apr 11931'
A Tr. Co., Milw.. Trustee.
Bonds.—Remaining bonds may be issued only when net earnings are
twice Int. charges, lncl. bonds to be Issued, at not exceeding 75% of cost
of extensions, additions, Ac.
Subject to call at 105 and Int.
V. 92. p. 725.
Dividends.—Dividends of 3% paid s.-a. on 1st pref. from Sept. 1911 to
Mar. 1914 (lncl.).
Noneto Jan. 1916, when 1J4% was paid.
In May 1916
and )4% each month thereafter to Oct. 1916.
In Dec. 1916 paid
3%.
In April 1917.3%.
In 1918. 6%.
In April 1919 paid off all accumulated dividends up to April 1 1919.
In Oct. 1919. 3%.
In 1920, April, 3%.
EARNINGS.—For cai. year 1919 and years
MASS.
$1,000,000
Stock, common. $1,000,000
1st pref., $400,000, 6% cum
2d pref, $600,000, 6% non-cum
M-S
1st
mtge
$4,000,000
goldf 1911
5 A-O
($500 and $1 000)
ctf lint, at First Sav.
In 1920,
CANTON,
Maturity.
Outstanding.
Interest.
Date.
STOCK AND BONDS—
CALAIS, ME.
^CALAIS,.STREET RAILWAY—A trolleyjoad.
^ORGANIZATION!—Sfcock'r$50".00(f'com. and"
St.
21
RAILWAYS
8t. Louis Electric Bridge
Danville Street Railway A Light Co.
Danville Urbana A Champaign Ry.
St. Louis
Decatur Railway A Light
Dee Moines Electric Co.
Des Moines A
Co.
Cent. Iowa Elec. Co.
Galesburg Artificial Ice Co.
'
•♦Galesburg Rv.t Lighting A Power.
Galva (III.) Electric Light Co.
Illinois Central Traction Oo.
Jacksonville Railway A Light
Co.
Co.
Terminal Ry.
Springfield A Peoria RR.
Edison Co.
Railway Co.
Railway A Light Co.
A Champaign Railway, Gas
St. Louis Electric
Topeka
Topeka
Topeka
Urbana
A Electric Co.
Urbana Light, Heat A Power
Western Rys. A Lt. Co.
•Wichita
RR. A Light Co.
Co.
22
ELECTRIC
Companies marked with * formerly comprised Western Rys. & Lt. 8ya.
In July 1920 the
following companies filed notices of dissolution: Dan¬
Ry.; City Electric Ry.; Springfield & Northeastern RR.; Peoria
Streator & Ottawa Ry.; Champaign & Springfield Belt
Ry.
V. Ill, p. 188.
In April 190? obtained a 5(£year franchise on certain streets of St. Louis
and was also given authority by the U. S. Government to build a
bridge
across the
Mississippi River between Venice,111., and 8t. Louis. Mo.
This
bridge was opened to traffic in Nov. 1910 and, with terminals In 8t. Louis,
represents an investment of over $6,000,000.
V. 92, p. 259.
On July 1
1911 began running express trains between St. Louis
Peoria, 174 miles,
with only two stops—at
Springfield and Lincoln—the running time being
5H hours, or about 32 miles an hour (V. 93, P. 44).
In Aug. 1911 ths
company opened offices in Chicago, with the
purpose of securing freight
from points between Chicago and St.
Louis, though company has as yrt
no direct entrance into Chicago.
V. 93, p. 527.
Fare and Rate Increases.—On Dec. 4 1916 the I.-S. C. Comm.
approved a
schedule of fare between St. Louis, Mo., and Venice, Madison and Granite
City, III., which increased the average receipts per passenger from 5 to 7.2
cents.
In Jan. 1918 the Illinois P. 8.
Cpmm. authorized the company's
subsidiaries to charge 2 cents a mile for passenger service, instead of the
fixed rates within zones, effective Feb. 11 1918.
In Sept. 1918 Judge
ville St.
English in the U. 8. Dist. Court at Danville. 111., issued a permanent in¬
junction restraining the State of Illinois from interfering with the company
in the proposed increase of passenger rates above 2 cents
per mile, with 3
cents per mile as the maximum charge.
V. 107, p. 1287.
On Dec. 26
1918
authorized by the I.-S. C. Comm. to increase passenger rates to
not to exceed 3 cents per mile.
In Aug. 1920, intra-state and inter-state
freight rates were raised 33 1-3% and 40%
respectively.
V. 107, p. 2476.
On May 16 1918 the following fare and rate revisions were authorized
was
by the
111. P. 0, Comm.
(a) 6-cent fare in Jacksonville and Cairo, with 20 tickets
for $1; (b) Straight 5-cent fares in Danville, Decatur,
Champaign, Urbana,
Bloomington, Quincy and Galesburg,
In July 1919 cash fares in Quincy,
111., were increased to 7 cents.
V. 109, p. 370.
Fares in Urbana, Cham¬
paign, Bloomington and Normal were raised to 7 cents, effective Aug. 1
1919.
V. 109, p. 477, 886.
On June 3 1920 a 7-cent fare was put into effect
in Peoria.
In Aug. 1920 fares in Danville were raised to 7 cents and fares
in Galesburg to 10 cents.
In July 1920 fares in Topeka were raised to
8 cents cash and in Aug. 1920 the cash rate in Wichita was made 6 cents,
(c) Increases per 1,000 cu. ft. oi gas for the first 5,000 cu. f t. of gas consumed
monthly as follows: Decatur, 10c.; Danville, 20c.; Champaign, Urbana
and Galesburg, 25c.
The Mo. P. 8. Commission auth. an increase in
the charge for gas supplied at Jefferson
City, Mo. to $1.90 per 1,000 cu. ft.
effective Nc^v. 1 1920.
Subsidiary companies' bonds In the hands of the public Mar. 1 1920
amounted to $55,353,200.
STOCK AND BONDS—
Date.
Interest.
Last Divid
Outstanding.
Common, $15,000,000 ($100).
Pref 6% cum $10,000.000($100)
See text
$12,331,000
7.289.500 Oct '20, 1^
(3,000,000 Feb 1 1925
11,500.000 Jan 1 1920
(
62,000 Apr 1 1927
.
Debenture gold bonds
5%
Western Railways & Light Co.—
Pf
RAILWAYS
[Vol. 111.
ROAD.—Owns and operates 106 miles of track (96 miles, main line; 10
miles sidings) extending from Bloomington through Decatur to Champaign
and Urbana.
60 and 70-lb. rails.
Standard gauge.
248 cars and 6 loco¬
motives.—V. 102, p. 65.
(8)
Bloomington
&
Normal Railway
&
Light Co.
on Feb. 23 1900
ORGANIZATION.—Incorporated in Illinois
as
a con¬
solidation of the Bloomington 8c Normal Ry., Electric & Heating Co. and
the Consumers Light & Heating Co. of Bloomington.
Does all local street
railway and commercial electric light and
power business in Bloomington
Bloom¬
Principal railway franchise in Bloomington expiree in 1929.
In
this franchise city reserves right to purchase plant at an appraised value
plus 10% of same.
Railway franchises in Normal that are not perpetual
expire in 1922.
Principal lighting franchises are perpetual.
Minor fran¬
chises in Bloomington for lighting and for steam and hot water heating
expire in 1930 to 1935.
In Jan. 1917 the authorized capital stock was increased from $1,050,000
to $1,900,000.
V. 104, p. 255.
In Dec. 1917 the Illinois P. U. Comm.
auth. the company to issue $53,000 additional
pref. stock and $66,000
and Normal and operates hot-water and steam-heating system in
ington.
bonds.
These have since been issued.
Rates.—See Illinois Traction Co., above.
STOCK AND BONDS—
Date.
Interest.
Com stock, $1.200.000 ($100)
Outstanding.
Maturity.
$1,200,000
697,000
1911
5 J-J
1,372,000 Jan 1 1928
gold ($1,000)
c*«krtf J Illinois Trust 8c Sav. Bk., Chicago, Trustee.
B & N R E & H 1st mtge.l
1902
5 g J-D
600.000 June 1 1927
$600,000 ($1,000) g.sf.c*tf [Int. at 111. Trust & Sav. Bk.. Chic.. Trustee,
Stock.—The pref. stock is red. at 105 and accrued div. and is guar. p. 8c d.
(end.) by the Illinois Traction Co.
Tax exempt in Conn., New Hamp¬
shire, Illinois, &c.
Bonds.—Of the $3,500,000 1st and gen. mtge. bonds, $600,000 are re¬
served for prior liens and $1,528,000 for extensions and impts. under care¬
ful restrictions.
Are guar. prin. and int. and s. f. by 111. Trac. Co.
Int.
In N. Y. or Chicago.
Callable as a whole or in part for s. f. at 102H and
interest on any interest date.
Sinking fund of 2% of bonds out annually.
Of the bonds outstanding, $147,000 are in sinking fund.
V. 93, p. 665.
The Railway Electric & Heating Co. bonds are subject to call at 110 and
int.
Sinking fund, $10,000 annually, began June 1908; $178,000 are in
sinking fund and Included in amount outstanding.
ROAD.—Operates 19 miles of track in, around and between Bloom¬
ington and Normal.
Ralls 70 and 72-lb.
Has 32 pass, and 5 misc. cars.
Power station has 3,300 k. w. capacity.—V. 106, p. 2648; V. 109, p, 886.
Pref. stock, $700,000, 6% cum
1st and gen mtge, $3,500.0001
——
Q-F
-
—
Cairo Railway 8c Light Co.—A trolley road.
on Oct. 5 1908 in Maine and purchased
& Trac. Co., the Cairo City Gas Co. and the
Cairo & St. Louis Ry. Co.
The Cairo Elec. & Trac. was a consolidation of
the Egypt Electric Co. and the Cairo Electric Light & Power Co.
Rales.—See Illinois Traction Co., above.
(4)
ORGANIZATION.—Incorp.
all stock of the Cairo Elec.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
All owned by Western Rys. & Light Co.
$366,000
5 g J-D
850,000 Dec
11938
Stock, com., $1,000,000 ($100)
6% $3,500,000 ($100).
See text
Q-J
3,169,000
Debenture gold bonds
tf
1,645.000
70
5%
Stock.—Additional preferred stock can only be issued when net earnings
are equal to 9% on preferred stock out and the amount
proposed to be
Pref. stock $366,000Cairo Ky&LtM $1,000,000 gntf 1908
G E & T 1st M, $300,000, gntf
Issued.
Cairo
cum
....
.
Preferred stock Is listed
on
Montreal Stock Exchange.
Dividends.—6% per annum is being paid on the preferred stock.
First
div. on com.. *4%, paid May 15 1913: same rate
quar. to and incl. Feb.
1918; May 1918 div. omitted (V. 106. p. 1231, 2228).
None since,!
Divs.
have been paid on Western Rys. & Light pref. stock since
organization.
V.
REPORT.—Of combined properties for calendar years (1919 report in
Ill,
p.
182.
•
'
.
Gross Earnings.—
Inter urban lines
1919.
City lines
Gas
Electric
Heat, water &miscell
1918.
$5,930,524
3,997,349
1,074,947
5,733,746
945,772
$4,740,079
3,351,256
1,282,104
4,887,743
999,821
Total gross earnings._$ 17,682,338
Oper. expenses & taxes— 12,544,181
Net earnings.
Interest on bonds, &c—>
Pref. dividends (6%)
1917.
$4,609,896
3,198,056
1,035,169
4,295,501
902.248
$15,261,003 $14,040^870
9,149,176
10,966,998
$5,138,157
$3,940,305
437,370
1916.
$3,993,836
3,110,811
923,642
3,689.852
848,307
$12,566^447
7,489,797
.
$4,891,694
$3,719,541
432,750
(3)368,732
$5,076,650
$3,603,418
$4,377,675
$4,410,111
$760,482 def$116,106
—
$4,294,005
$3,880,261
437,370
(9092,480
$4,521,023
$370,671
$4,399,132
$677,518
Common dividends
Total deductions
Surplus
From the balance as above in 1919 there
discount and$627,729 for depreciation,
was
428,130
(3)367,584
deducted $115,025 for bond
leaving a surplus of $17,728; while
in 1918 there was deducted $611,159 for
depreciation and $92,123 for bond
discount, resulting in a deficit of $819,388.
ROAD.—The interurban lines comprise 625.61 miles of
track; city lines
comprise 270.22 miles of track; total of all lines, 8 *5.83 miles.
In 1912
entered into a contract with Wabash RR. for a
physical connection and
general interchange at Decatur.
Has working agreement with all steam
roads
in
its
territory that can be of service, except the Pennsylvania (joint
via. N. Y. Central Lines and Erie RIt. to eastern
points are now
effective.)
Interurban
lines
have
197
passenger,
124
express,
1,085
freight cars and 34 miscellaneous cars, and 35 locomotives;
city lines have
425 motor cars and 201 others; 4 central
power stations and 40 sub-stations
rates
on
interurban lines,
wMcKinley, Champaign; V.-P. and Gen. Mgr.,
H. E. Chubbuck. Peoria: V,-P. and
Treas.. Geo. M. Mattis,
Champaign;
Sec., T. B. Macaulay Montreal.—V. 106, p. 2443, 2456, 2758: V. 107,
p.
1287, 1384, 2476; V. 108. p. 2428, 2443; V. 109. p. 370, 477. 1700; V.
110,
p. 1415; V. Ill, p. 182, 188, 792,1472.
j 1903 5 g J-D
($500 and $1,000)
150.000 June 1 1923
-_cntf lint, at Central Trust Co., Chic, Trustee.
City Gas Co $75,000 gold 1903
5 g J-D
75,000 June 1 1923
Bonds.—C. E. & T. bonds subj. to call on any Int. date aft. lOyrs. at 105.
ROAD.—Operates 9 miles of track in Cairo, together with the electric
lighting and power plant.
22 cars.
Furnishes city with 341 incandescent
lights; also supplies 40 commercial arcs.—V. 88, p. 293, 374.
(a) Cairo 8c St. Louis Ry.
Controlled by Cairo Ry. & Light Co.
ORGANIZATION.—Incorporated in Illinois Oct. 1908 to construct a
Has a 50-year franchise in Cairo, Mound
line from Cairo to East St. Louis.
City and Mounds.
8TOOK AND BONDS—
Date.
Stock, $300.000
First mtge,
Interest.
'
Outstanding.
$300,000
Maturity.
$250,000,g-C&rtf /
1908
5 g M-N
250,000 Nov 1 1938
] Portl'd(Me.)Tr.Co.,Trus.,&F.D.Lunt,Portl'd
Bonds.—Coupon bonds
are in $1,000 pieces and registered In any desired
Int. at Portland (Me.) Tr. Co.
No s. f. and not subject to call.
ROAD.—11.46 miles of track completed and In operation; 10 cars; 1
engine.—V. 88, p. 293.
amount.
(5) Chicago Ottawa & Peoria Railway Co.
ORGANIZATION.—Bought outright in 1909 the Illinois Valley Ry.
Operates largely on private right of way.
Franchises in various towns
mature mostly after 1950.
Rate Increase.—In Aug.
1918 was auth. by the HI. P. U. Comm. to in¬
freight rates 25%.
V. 107, p. 603.
April 1919 the company issued $406,000 pref .stock at par.
Compare
V. 108, p. 267.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Com. stock—$1,540,000 outstand'g—Allownedby Western Rys. & Lt. Co-.
Preferred stock cumulative
6%
$406,000
First cons and ref mtge, guar. (1907
5 g J-D
3,494,000
Dec 1 1937
$5,000,000 ($1,000)-..-tftCentral Trust Co. of Illinois, Trustee.
Illinois Val 1st M,$ 1,500,000/ 1905
5 g M-S
1.500.000
Sept 11935
g (S500&$1,000).guarc
tf lTnt. at Irving Nat. Bank, N. Y. City.
Bonds.—Ch. Ott. & Peo. 1st M. bonds are guar., p. & i., by Western Rys.
8c Lt. Co.
$1.500,000 are reserved for prior liens.
They are subject to call
on any int. day on 30 days' notice at 105.
Int. at Merchants' Bank of Can¬
ada In N. Y. City.
Illinois Valley bonds have a sinking fund of 1)4 % per
annum of amount out:
mtee. was originally $2,000,000. but on merger with
Chic. Ott. & Peoria the $500,000 unissued was canceled; $532,000 (incl. in
amount outstanding) held in sinking fund.
Bonds are guar., p. & i., by
Western Rj's. & Light, Portland (Me.) Trust Co. is trustee.
Are subject
crease
In
-
to cail at
105.
>
ROAD.—Operates from Princeton, 111., via Peru, La Salle. Utica, Ot¬
PROPERTIES CONTROLLED BY~THE ILLINOIS
TRACTION CO.
(1) -AtciiisoRailivay, Light & Power Co.
ORGAN IZATION.—Successor In 1895 of the Atchison
Ry. Elec. L. & P
grT,J?^?J;r?lT,evlectrl(lrailway' lighting
STOCK AND BONDS—
Stock. $1,500,000 ($100)
Date.
and gas properties of Atchison.
Interest.
Preferred
First mtge $1.500,000
Outstanding.
$500,000
136,000
Maturity.
6%
tf 1910
5%
750,000 Noy
1935
Bonds.—Sinking fund, $10,000 per annum, payable Nov. 1; $24,000 held
alive in fund Oct.
1
1920.
ROAD.—Operates 9.74 miles of track.
26 cars.
Supplies city with
,vva,ro
a109 Incandescent lamps; also 8 arcs ror commercial
lighting; 3,053 electric and 2,427
gas meters in use.—V.
107, p. 1191.
Bloomington Decatur & Champaign RR.
(2)
ORGANIZATION.—Incorporated in Illinois on Nov. 29 1910 as a con¬
solidation of the Chicago Bloomington & Decatur
Ry. and St. Louis Decatur
8c Champaign Ry.
Operates on private right of way except through cities
and towns (8 miles) where franchises extend to or
beyond 1953.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common, $3.000.000
$3,000,000
Preferred 5% ($1,137,500)—.
1.137.500
1st & ref mtge, $15,000,000, g/ 1910
5 g M-N
1,496,000 Nov 1 1940
($1,000 coup & $1,000 or]Interest at Illinois Trust & Savings, Bank,
multipreg.) gup&i.c*&r*tfl
Chic., Trustee, or Chase Nat. Bank.N. Y.
General mortgage
-
—
-r,,
.
^
„
J 1910
5 M-N
890,000 Nov 1 1940
(Central Trust Co. of Illinois. Trustee.
Chic Bloom & Decatur 1st M_
Stock.—Of
Series
the
pref.
stock,
"B."
4,000
$912,500 is
Series
"A"
and
1936
$225,000 is
tawa, Marseilles, Seneca and Morris to Joliet, about 117 m., with branches
from Spring Valley to Ladd and from Ottawa to Streator, 16 m.;
total,
about 123
m.
1911; 108
cars;
(6)
Road from Morris to Joliet was placed In operation in Dec.
3 locomotives.—V. 97, p. 594; V. 107, p. 603; V. 108, p. 267.
Consumers Water
&
First 8c ref M $500.000
1913
Consol W 8c Lt bonds (ntf)_-—
pur¬
poses, $6,750,000 are reserved for acquisitions of two connecting interurban
roads (Danville Urbana & Champaign and Illinois Central
6 J-D
5%
75,000 Dec 1
30,000
Dec
1938
1925
(7) Danville Champaign & Decatur Ry. & Ligi\t Co.
ORGANIZATION.—Incorp. in Maine May 14 1913.
Is a holding
company and controls substantially all the electric, gas, street railway
and public-heating systems in Danville, Decatur, Champaign and Urbana.
Franchises covering gas, electric and heating, with few exceptions, extend
many years beyond 1938.
Street railway franchises expire at various dates
before 1938. the laws of 111. not permitting long-time street ry. franchises.
In Sept. 1920 $650,000 5-yr. 8% con v. secured notes were
brought out,
proceeds being used for exts., add'ns and retirement of undeilying bonds.
V. 111. p. 1471.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock. $3,700,000 ($100)
$3,688,000
Pref. 6% cum, guar ($100)
6 Q-M
1,000,000
See text
Cons & ref coll tr
$15,000,000/ 1913
5 g M-S
3.443,000 Mar 1 1938
c*&r», red at 104 and int.jlnt. at Boston Safe Deposit & Trust
Co
prin and interest-__tf I
Trustee.
H. D. Heathfield also Trustee.
Secured conv notes $2,000.0001 1920
8 g F-A
650,000 Aug. 1 1925
g
guar
($100, $500 & $1.000)_c*tf f
Stock.—Pref. stock is red.
In March 1916 issued $500,000 5% Ser. A
pref. stock to retire a like
Mortgage bonds.
Bonds.—Of the $13,500,000 "1st & ref." bonds reserved for various
amount of General
Light Co.
ORGANIZATION, &c.—Incorp. In Illinois in 1913 to succeed the Mar¬
seilles Water & Light Co. (successor in 1910 to the Consol. Wat. 8c Lt. Co.)
STOCK AND BONDS—
~
"
"
Date.
Interest.
Outstanding.
Maturity.
8tock
$500,000
as
a
Northern Trust Co., Chicago, Trustee.
whole at 110 and div.
Cumulative divs.
at the rate of
6% and also $100 a share in the event of involuntary liquida¬
tion or dissolution (and $110 per share
otherwise), are guar, by endorsement
by the Illinois Traction Co.
V. 103, p. 406.
Bonds.—Secured by all the stocks and bonds of constituent
companies,
namely $1,956,000 Dec. Ry.&Lt. Co. Consol. & Ref. 5s; $1,211,000 Urbana
& Champ. Consol. & Ref. debs.;
$1,747,000 Danville St. Ry. & Lt.
Go.Consol.& Ref. 5s and $34,000 Urb. Lt. Ht. 8c Pow. Cons. 8c Ref.
5s.
There are $2,253,000 underlying bonds for
payment of which
a
like
Trac.), $890,000
to redeem the general mtge. bonds, $472,000 to
replace general mtge, bonds
issued In the future and $5,016,000 for 80% of cash cost of additions and
Improvements.
These $5,016,000 bonds, excepting $500,000 (issuable at
any time for 80% of cost of additions and improvements, with consent of
amount
of cons.
& ref.
bonds is
reserved.
Remaining
$7,799,000
N. W. Halsey & Co.) can be issued only when the preceding 12 months'
may be issued for additions and improvements to constituent
companies
gross earnings have equaled five times and net earnings 1*4 times the inter¬
under certain restrictions.
They are guar. p. 8c i. by 111. Trac. Co., as are
est charge on all bonds outstanding and those proposed to be issued.
also sub. co. bonds deposited under this
Bonds
mtge.
All future issues of stocks
are unconditionally guar.,
and bonds by constit. cos. must be pledged under above coll.
p. & L, by Illinois Trac. Co.
They are redeem¬
trust issue.
able at 105 on any int. date.
V. 92, p. 259.
Int. on general mtge. bonds is j V- 96, p. 1422.
Coupon bonds in denom. of $1,000; regis, bonds $1,000.
payable at office of Merchants' Bank of Canada, New York.
$5,000, $10,000 or multiples of $1,000.
Oct., 1920. j
Sinking fund will retire before maturity about 40% of total bonded debt
Incl. underlying bonds; $156,000 (not incl.in amt. outstanding) in sink. fund.
Notes.—Are secured by deposit of -SI,000,000 cons. & ref. coll. tr. 5s,due Mar. 1 1938.
Unless earlier red. notes are conv. on and after Aug. 1
1922 at 100 and int. into 5% bonds of the co. due Mar. 1 1938 as follows:
at 80 and int. from
Aug. 1 1922 to Aug. 1 1923: at 82and int. from Aug 1.
1923 to Aug. 1 1924; at 85 and int. from Aug 1 1924 toAvg. 1 1925
Red.,
all or in part, on 30 day's notice at
102K and int to Aug. 1 1921 and de¬
creasing
cago.
V.
y2% each succeeding
Ill, p. 1369, 1471.
until maturity.
year
EARNINGS.—Of constituent
Int. in N. Y.
or
cos.
for
12
ending Dec.
mos.
31
1919
Rates.—See Illinois Traction Co. above and V.
Date.
ill, p. 588.
Interest,
Outstanding.
Maturity.
Stock, $1,500,000 ($100).
$1,438,000
Refunding mortgage, $700,-1 1900
5 g J-J
634.000 Jan 1 *21-'2I
gold ($1.000)c* tf/ Interest at N. W. Harris Ac Co.
Consol and ref debs, $7,500,- I .1913
5 M-S
1.747,000 Mar 1 1938
—
tf
-
„
„
-
—
—
—
/Central Trust Co. of IU.. Trustee.
are due $6,000 annually Jan. 1 1910 to 1924 Inclusive
Jan. 1 1925; $66,000 have been retired.
Sinking fund of
on
$6,000 per year began Jan. 1 1910, bonds being drawn (at par and accrued
Int.) in numerical order, beginning with No. 1.
Mortgage trustee Is the
Illinois Trust 8c Savings Bank, Chicago.
V. 70, p. 125.
Of the conso). &
ref. debs, of 1913, $1,747,000 are deposited under D. G. Ac D.
Ry. Ac Lt. M.
$634,000 are reserved to replace underlying bonds and $5,119,000 for cost
of new property.
COMPANY'S PROPERTY.—The company owns the following: 1. Gas
works operated under special charter and a perpetual franchise.
2. An
electric-light plant Is operated under a 99-year franchise; also has dynamos
tor furnishing power to street railway.
3. The entire street railway sys¬
tem of the city, 16.37 miles of track, nearly all laid in brick
pavement,
running to three parks, the fair grounds, cemetery and railway depots and
National Soldiers Home.
Equipped with 50, 60 and 70-lb. Johnson T rails
with 26 motor cars
current
at
(General
Westville,
Electric) and 12 others.
Georgetown,
Rldgefarm,
Furnishes electric
Indlanola,
Sidell
and
Chrisman.
(b)
Decatur Railway St Light
s^kA „ind,
In Aug. 1920
the
co.
applied for auth*. to issue $354,000 ad¬
Rates.—See Illinois Traction Co., above.
STOCK AND BONDS—
Date.
$1,_555.000_($100) —---
Decatur
Gas
Ac
Electric
Co
first mortgage.—
tf
Decatur Gas 8c Elec Co 2d M
$400,000 ($300,000reserved
for above ($1,000), goldtf
Interest.
----
way.
On Nov. 28 1917 the company issued $550,000
Maturity.
5 M-N
135.000
See text
Int. at Merch. L. Ac Tr. Co., Chic., Trustee
1899
5 J-J
90,000 Jan 1 1930
Interest at Merchants' Loan Ac Trust Co..
Chicago. Trustee.
1900
5 J-J
197,000 Jan
1921
1
000($500Ac$1.000each)c*tf/Int. at Illinois Tr.Ac Sav. Bk., Chic., Trustee
Dec Ry At Lt Co 1st & cons MI
$1,300,000,g
1903
5 gJ-D
743,000 Dec
1933
1
($l,000)-c*tf/lnt.OldCol.Tr.Oo.,Bos.,Tr.,AcagencyinN.Y.
Dec Ry Ac Lt con Ac ref mtgel 1913
5%
1.956.000 Mar
$7,500,000 (red at 105)- tf /Central Trust Co of 111.. Trustee.
1
1938
ROAD.—Operates about 15 miles standard-gauge road in Decatur and
suburbs; 60 & 72-lb. T rails.
35 motor cars & 4 others.—V. 106, p. 85.
gold
$1,000)
c* tf—
General mortgage
1
upon
no
-
Northern Trust Co., Chicago, Trustee.
6%
700,000
Nov. 1930
bonds-.tf
Bonds.—The first 5s have
1910
sink. fd„ but are subj. to call on any Int. date
90 days' notice at 105 8c int.
The bonds
are guar., p.
& 1., by end. by
Danv. St. Ry. & Lt. Co. and Urbana & Champaign Ry., Gas Ac Elec.
V. 81. P. 264.
Co.
ROAD.—Operates 76.16 miles of track over private rlgnt of way, con¬
necting the cities of Danville, Urbana and Champaign, with branches from
Danville to Georgetown and Ridge Farm; Danville to Oatlin and Ogden
to Homer.
70-lb. rails.
Has 20 pass, cars, 23 express cars, 175 freight
cars, 11 locomotives and 7 miscellaneous cars.
OFFICERS.—Pres., W. B. McKInley; Sec., E. A. MacNutt; Treas..
Geo. M. Mattis.—V. 83, p. 435; Y. 84, p. 338; V. 88. p. 563; V. 106, p. 85.
(XI)
Des Moines & Central Iowa Electric Co.—A holding company.
ORGANIZATION.—Controls the Iowa subsidiary properties of the
Illinois Traction Co., which include the electric-light and power companies,
serving Des Moines, Oskaloosa, Colfax, New Valley Junction, New Sharon,
Prairie City and Montezuma and the street railways in Oskaloosa.
Con¬
trols the Des Moines Electric Co. and the Oskaloosa Traction Ac Light Co.
The bonds of this co. are secured by pledge of $614,000 gen. mtge. 6%
bonds of the Dee Moines Elec. Co. (total out) and all the common and pref.
stock of the same co. Also $166,000 gen. mtge. bonds and all the stock of
the Oskaloosa Traction Ac Light Co. and bonds of various other cos. in an
aggregate amount of $249,000.
STOCK AND BONDS—
Com stk, $1,000,000
1913
or
1st M $5,
Outstanding.
Maturity.
controlled by Illinois Trac. Co.
do
do
$1,664,500
Sept 11937
or
do
do
6 g M-S
lOSflnterest
Ac int guar p Ac i and a f by
end by Illinois Trac Oo..c*
Des Moines Elec
Interest.
Date.
($100)--All owned
Pref stock, $150,000
8k fd gold bonds, $10,000,000/
at First National Bank. New York.
the Central Trust Co. of Illinois .Trustee.
2.700.000
5 M-N
1908
Nov 11938
f
tf ^Interest at American Trust Co., Boston.
$300,000/ 1903
5 g J-J
214,000
Jan 1 1923
($1,000) gold sink fund..c*l Int. at U. S. Mtge. & Trust Co.. N. Y..Trus.
Bonds.—Additional sinking fund gold bonds can only be Issued for
80%
of the cost of improvements, Ace., to the sub cos., and certain other restric¬
tions.
Annual sinking fund of 1H% of bonds out began Sept. 1914.
$37,000 (incl. in outstanding amount) held alive in maint. and renewal fund
1931-37.
s
_Oskaloosa
Trac! LightV. 98,
bonds'
annually.
be delivered to trustee
Earnings.—Of sub.
31 1919, gross,
$435,692.
(12)
have
sinking ^und of" 35,000
to
p. 839, 1536.
of the Des M. Ac C.I. E. Co. for 12 mos. end,
$1,570,501: net, $632,282; int., $196,590; surplus,
cos.
Galesburg Railway, Lighting & Power Co.
ORGANIZATION.—Incorp. In 111. Sept. 101913 and took over the Gales¬
burg Ry. Ac Lt. Co., the Galesburg Gas 8c Elec. Lt. Oo.v the Knoxville
Elec. Lt. & Pow. Co. and the Abingdon Lt. Ac Pow. Co.
Rales.—See Illinois Traction Co. above and V. Ill, p. 588.
In May 1917 auth. capital stock was increased rrom $3,500,000 to
$4,000,000.
In April 1919 the co. issued $350,000 Consol. Ac Ref. Mtge
bonds.
Compare V. 108, p. 268.
STOCK IAND BONDS—
Interest.
Date.
Outstanding.
Maturity'
$3,474,300
Com,, $4,000,000 ($100)
Preferred $500,000
6%
464,000
—
Consol ref mtge, $5,000,0001 1910
5 g J-D
1,117,000
Oct 11934
($1,000) red at 105—c*&r/lnt. at Merchants' Bank of Canada, N. Y.
Galesb Ry & Lt 1st cons
781,000
Bonds.—Sufficient consol. ref. mtge. bonds are reserved for prior liens
and remainder for additions, Acc.
Bonds are guar., p. Ac I., by Western
Rys. Ac Light Co.
Sinking fund retires 1 ]4 % of bonds outstanding April 1
each year and iy % of all underlying bonds not pledged under the consol.
ref. mtge.
Up to Oct- 1 1920, $143 ,000 had been retired. The Old Colony
Trust Co., Boston, is trustee.—V. 108, p. 268; V. Ill, p. 588.
—
——
~
...
.........
Illinois Central Traction Co.—A trolley road.
(13)
ORGANIZATION.—Incorporated In Illinois in 1903 under general
Mostly private right of way
On Apr. 1 1919 issued $245,000 pref. stock at par. Compare V.108,p.268.
railroad laws.
Interest.
Date.
STOCK AND BONDS—
Common stock $1,100,000
Preferred stock
Outstanding.
Maturity.
$1,100,000 —————.
245,000
1st mtge,
$2,000,000 ($1,-1 1903
5 g J-D
1,469.000 Dec 11933
000) gold, guar
c*tf/Int. at Ola Colony Tr. Co.. Boston, trustee.
Temporary general morfc
tf
5 Ac 6
1,000,000 1929 Ac 1931
Bonds.—Are subject to call on any interest date on 60 days' notice at
107Mi and Int. Are guaranteed, p. « 1., by Illinois Traction Co.
V. 82,
p. 804.
A sinking fund of 10% of net earnings became operative Dec. 1
1908. but not to be less than 1% of bonds outstanding. $252,000 held ins.fd.
_
(c) Urbana & Champaign Railway, Gas & Electric Co.
Controlled by Danville Champaign Ac Decatur Ry. 8c Light Co.
;—
—-
_
,
ORGANIZATION.—A consolidation In 1897 of Urbana Ac Champaign
Electric Street, Champaign Electric Light Ac Power, Champaign Ac Urbana
Gas Light Ac Coke and West End Park companies.
Owns perpetual gas
and steam charter.
The underlying railroad charter Is also perpetual.
Franchise in 1901 extended for 20 years.
—-
1920 the co. applied for auth. to issue $88,000 additional bonds.
Illinois Traction Co. above.
Rates.—See
an
Date.
Maturity.
—
—
Bonds.—$1,180,000 Decatur Railway Ac Light Co. first and consols, are re
an equal amount of prior liens as above.
A sinking fund
of 10% of the net earnings, or not less than 1% of outstanding bonds, is
to be Invested in the bonds.
Amount outstanding Includes $273,000 bonds
held In sinking fund.
These bonds are subject to call at 107H and int.
on any Interest date upon 60 days' notice.
Of the Decatur Gas Ac Electric
Co. 1st M. bonds, $15,000 were redeemed on May 15 1910 at 105 and a like
amount must be each year in numerical order.
These bends are sub¬
ject to call at 105 and interest.
Ihe second mortgage bonds of the De¬
catur Gas & Electric Co. are redeemable at any time at 105 and interest,
but there Is no sinking fund on these bonds.
Of the Dec. Ry. Ac Lt. consoi.
& ref. bonds, $1,956,000 are deposited under the Danv. Champ. Ac Dec. Ry.
Ac Lt. consol. Ac ref. mtge.
$1,180,000 are reserved to retire underlying
bonds and $4,364,000 tor new construction.
served to retire
STOCK AND BONDS—
preferred stock.
Outstanding.
$250,000
550,000
1903
5 g M-S
2,000,000 Mch. 11923
guaranteed! Interest at Agency of Bank of Montreal.N.Y.
Dec.
Outstanding.
$1,555,000
Interest.
Date.
Common stock $250,000
Preferred stock$550,000
First
mortgage
$2,000,000 f
1899
Dec Trac Ac Elec 1st M $300,-
In Aug.
right of
Osk T & Lt Co bds
ditional bonds.
Stock,
Danville Urbana & Champaign Ry.
000,000 ($1,000)
Co.
Champaign Ac Decatur Ry. 8c Light Co.
ORGANIZATION.—Incorporated In Illinois In Dec. 1903, to take over
the property of the Decatur Traction 8c Electric Co.. the Decatur Gaa Ac
Electric Co. and tne Decatur Steam Heating Co., owning all the street rail¬
way. gas and electric-lighting business and steam-heating plant in Decatur
and suburbs.
In Dec. 1917 the Illinois P. U. Comm. authorized the Issuance of $180,
standing).
(10)
ORGANIZATION.—Incorporated In Illinois under the railroad law on
July 28 1902.
Owns the Danville Paxton & Northern Ry. Mostly private
($500 Ac $1,000) red at
OFFICERS.—Same as those for Danville Urbana 8c Champaign Railway
Co.—V. 106, p. 85; V. Ill, p. 588.
Controlled by Danville
fromJDanville City limits to Grape
those for Illinois Central Traction Co.
as
-
Danville Street Railway St Light.
Controlled by Danville Ohamnaign Ac Decatur Ry. Ac Light Co.
ORGANIZATION.-—Incorporated In Dec. 1899 as a consolidation of all
the street railway, electric light, gas and steam-heating interests.
In Aug.1920 the co. applied for auth. to issue 888,000 additional bonds.
000
Bands.—Ref. bonds
OFFICERS.—Same
STOCK AND BONDS—
(a)
STOCK AND BONDS—
ROAD .—Operates 2.82 miles of road
coal district.
70-lb. rails.
Creek
Chi¬
v[°To3^^>T^L%SO^V^ei'iS313'439: SUrPlUS- $889'654 -
and remainder
33
ELECTRIC RAILWAYS
Interest.
Outstanding.
Maturity.
$836,000
Stock,.$836,000
Consol
354.000 July 1 1929
mortgage,
$500,000/ 1899
5 g J-J
($1,000, gold
--C-ntf I Int. at Portland Tr. Co., Portland, Me.,Trus
5 M-S
U Ac C Ky G Ac E consol and/ 1913
1,211,000 Mar 1 1938
Central Trust Co.. Chicago. Trustee,
ref debs $4,000,000—
tf 1
Bonds.—'The consol. mtge. bonds are subject to call on any int. day at 105
Of the U.&O. Ry., G. &E. consol, ahd ref. debs.,$1,211,000 are deposited
under D. CL Ac D. Ry. Ac Lt. consol. & ref. M., $354,000 are reserved
to retire other bonds and $2,435,000 for additions and improvements.
—
ROAD.—Operates 45.5 miles of track from Decatur to Springfield, withextension from Buffalo to Mechanicsburg, 70-lb. rails.
Has 12 pass,
6 express cars, 171 freight cars, 4 electric locomotives and 2 misc. cars.
cars,
OFFICERS.—Pres.,
W. B. McKInley; Sec., E. A. MacNutt: Treas.,
Geo. M. Mattis; Gen. Mgr., M. E. Chubbuck.—V. 84. p. 339; V. 108.P.268.
(14)
Jacksonville Railway St Light Co.
—
ORGANIZATION.—Incorporated in Maine in Dec. 1905 and Is a con¬
solidation of the Jacksonville Ry. Co. and the Jacksonville Gas Light Ac
Coke Co.
Franchise perpetual.
Rates.—See
Illinois
Traction
STOCK AND BONDS—
ROAD.—Operates 12.60 miles of track In and between Champaign and
Urbana. Has 32 motor cars and 5 others.—V. 105, p. 2544; V. 109, p. 478.
(d) UrbanaXight. Heat St Power Co,
Controls the electric lighting and steam-heating
Entire stock Is owned by Illinois Traction Co.
Jn Aug. 1920 the co. applied for auth. to issue
■Rates.—See
Illinois
Traction
STOCK AND BONDS1—
Stock
Co.
Date.
mortgage
$200,000/
1909
$6,000 additional bonds.
above.
Interest.
$185,000
Second
-*«—•>
Urbana.
business of
5 J-D
Outstanding.
$185,000
Maturity.
8.",000
See text.
tf (Central Tr. Co. of 111., Trustee. Int. in Chic.
refunding) 1913
5%
34,000 Mar 1 1938
mortgage
—
tf /Central Trust Co. of Illinois, Trustee.
Bonds.—2d M. bonds mature on Mar. 1 yearly from 1918 to 1927.
They
are guar, by Illinois Traction Co. V. 89. p. 167.
The entire outstanding
amount ($34,000) of consol Ac ref. bonds are deposited under Danv. Cham.
Ac Dec. By. Ac Lt. mortgage.
($1,000)
Consolidated
and
-
OFFICERS.—Pres., W. B. McKInley; Sec., E. A. MacNutt;
H. E. Chubbuck.—V. 105, p. 2462.
Treas.
Geo. M. Mattis; Gen. Mgr.,
(8) Danville St Eastern Illinois Ry.
Stock, $125,000.
Temporary bonds to the amount of $50,000 (5%) are
outstanding, due 1927.
(9) Danville St Southeastern Ry. Co.
ORGANIZATION.—Incorporated in Illinois on Jan. 14 1909.
STOCK AND BONDS—
Date
Interest.
Outstanding.
Maturity
Stock
All owned by Illinois Traction Co.
First mortgage $100,000 gold,1 1909
5 g J-J
$60,000 July 11929
($1,000)
cAr tf/Int. at Central Trust Co., Chicago, trustee.
Bonds.—Subject to call at 105 and int. on any int. date.
Guaranteed.
8c L, by Illinois Traction Co.
.
Co.
Dade.
above.
.
*
Interest.
Outstanding.
Maturity
Com stock $500,000 ($100)$100,000
Pref stock $123,0OO outstand'g—All owned by Illinois Traction Co.
Jack RyAcLt 1st cons M.Sl.-J 1906
5 g J-J
756,000
Jan 1
——
1931
000,000,gu.g ($l,000)c*.tf I Central Trust Co., Chicago, Trustee.
Jacksonv Gas Light Ac
Co first mortgage
Coke/
„
110.000
5 J-J
Jan 1 1931
ntf(Int. at Merchants* Loan Ac Tr. Co., Chicago.
Bonds.—Of the $1,000,000 1st consols, $110,000 are reserved for prior
liens.
Are guar., p. Ac I., by Illinois Trac. Co.
2% of bonds out is payable
annually to a sinking fund.
Are sub. to call on any int. date at 105.
Int. at
Merchants' Bank of Canada, N. Y.
$90,000 Jack. Gas L. & C. retired.
ROAD.—Operates about 7.65 miles of track and also does electric lighting
business in Jacksonville.
14 motor cars and 9 others.—V. 95, p.
1542; V. 97, p. 1733. V. 99. 1748.
....
and gas
(15) Jefferson City Light. Heat St Power Co.
ORGANIZ'N, AcO.—Owns majority of stock of Jefferson City Bridge Ac
V.97, p. 1668.
Supplies gas and electricity to Jefferson City,
Mo., and furnishes current for operation of the street railway.
In Nov.
1915 made a 9-year contract with city for street lighting.
Has $200,000
common stock, $195.000 pref. stock, $200,000 1st M. 5% bonds (cpt) due
May 1925 and $189,000 1st Ac ref. bonds outstanding.
•
Transit Co.
(16) Madison County Light St Power Co.
Is a consolidation in 1906 of the Edwardsville Light Ac Power Co. and the
Granite City-Venice Electric Co.
Supplies light andpower to Edwards¬
ville, Granite City,
Carlinville,
Madison,
Venice,
Woodriver, Worden,
Livingston
East Alton and several smaller towns; also electric current to
Two of the principal
franchises are perpetual; none expires earlier than 1956, except the easement
under which the co. operates in Granite City, which expires in 1925.
In
Dec. 1912 increased its stock from $100,000 to $335,000. Common stock la
all owned or controlled by Illinois Traction Co.
Rates.—See Illinois Traction Co. above.
and Williamson, and furnishes gas to Carlinville.
$
STOCK AND BONDS—
Common
Date.
Interest.
Outstanding.
stock..
96,000
Common
■
1906
5 g J-D
720,000 Dec 11936
c*tfUnt. atagcy. Merchants* Bk. of Caoada.N.Y.
I
Central Tr. Co. of Illinois, Chic., Trustee.
Bonds.—Remaining bonds are for exts. and add'ns.
Sink, fund of 1M %
of bonds previously certified began Oct. 1 1916; bonds retired to be canceled.
Guar. p. & i. (end.) by Illinois Traction Co.
Can be called on four weeks'
notice on any Int. day at 105.
Earns. Cat. Yr.
1919.
"1918.
1917.
1916.
1915.
1914.
Gross earnings..$352,749 $322,201 $2.58,646 $219,191 $179,321 $154,234
Net after taxes..$129,534 $114,083
$96,429
$85,599
$64,173
$68,496
Bond int., &c...
31,083
31,700
29,860
27,200
26,550
27,790
Property.—Reserve electric power plants in Edwardsville and Oarllpviile;
a
gas plant and gas-distributing system in the latter city; high-tension
transmission lines, sub-stations, &c.
The company purchases, under a
contract extending until 1947, electricity generated in the power station
at Venice, controlled by the Illinois Traction Co.
1st mtge $1,000,000 ($1,000) f
gold
(17) Northern Illinois Light & Traction Co.—A trolley road.
ORGANIZATION.—Incorporated in Illinois and was successor in July
foreclosure.
Fran¬
1903 to the Ottawa Ry., Light ft Power Co., sol under
chise
perpetual for lighting and until 1930 for railway.
city lighting.
Western Rys, ft Light Co.
owns
Has contract
STOCK AND BONDS—
Date.
Interest.
V. 97,
Outstanding.
Com. stock, $750,000 ($100)
PrAfftmvf
for
all the stock.
In Sept. 1913 increased stock from $250,000 to $750,000.
Rates.—See Illinois Traction Co. above.
p.
729.
Maturiy.
$398,000
fifriflr
91 ft
$i,200JWO"," gold I
Oflft
5'gJ-3"'
*668,000 Juiy"i"i923
($500 and $l,000)-.c#_-tf \Int. at American Tr. Co., Boston, Trustee.
General M ($1.000,000)
6%
174,000
1938
♦All but $265,000 of these bonds are guar., p. 8c !., by endorsement, by
Western Rys. & Light Co.
Bonds.—No sinking fund and bonds cannot be called.
Remaining bonds
are for 80% of cost of additions, extensions and new properties, under con¬
First mtge,
1903
servative restrictions.
Earnings.—For year ending Dec. 31 1919, gross, $524,318; net, after
taxes, $138,749.
Date.
STOCK AND BONDS—
Maturit..
$335,000
stock, $335,000-
Preferred
[Vol. 111.
RAILWAYS.
ELECTRIC
24
In 1918, gross, $461,888; net, after taxes, $128,082.
Outstanding.
Interset.
Maturity.
$6,000,000
$6,000,000 ($100)
3,572.000
5%~,
1909
5 J-D
5.045,000 Dec 1 1939
l«t 8c ref mtge $15,000,000 g
($1,000 coup ft $1,000 or Illinois Trust ft Sav Bk, Chicago, trustee
multiples reg.)
c^&r* tf Interest in New York, Chicago or London.
1903
5 g J-D
451.000 Dec 11933
St Louis ft Springfield 1st M
($1,000) sr gold guar c*_tf Interest at City Trust Co., Boston, trustee.
5%
2,932,000
1939
StLSp&P gen M $15,000,OOOtf
5 g J-D
145.000 Dec 1 1936
Springfield & Northeastern' 1906
Traction 1st mtge $1,500,- Int. at agency Merch. Bank of Can., N. Y.
Central Trust Co. of Illinois, Trustee.
000 ($1,000) gold
c*
1906
5 g M-N
Peoria Bloomington ft Cham
280,000 Nov 1 1936
Trac 1st M $3,000,000 gold Int. at agency Merch. Bk. of Canada, N. Y.
Pref. $3,572,000 ($100)
...
Central Trust Co.. Chicago,
c*tf
($1,000)
Trustee.
$9,955,000 1st ft ref. bonds reserved for various purposes,
Bonds.—Of the
$145,000 are reserved for Springfield ft Northeastern Traction Co. bonds.
$564,000 to retire prior liens, $2,932,000 to redeem a like amount of general
mortgage bonds and $6,481,000 for 80% of cash cost of additions and ex¬
tensions.
The $6,337,000 and the $2.765,000 tor redemption of gen. mtge.
bonds (total $9,269,000). excepting $500,000 (Issuable at any time for 80%
of cost of add'ns ft impts.) can be Issued only when, for the preceding 12
months, gross earnings have equaled five times and net earnings 1 %A times
the interest charge on all bonds outstanding and those proposed to belssued.
Redeemable at 105 on any int. date.
Bonds are unconditionally guar.,
p. ft I., by Illinois
Chic. Stock Exch.
V. 90. p. 304; V. 95. p. 177.
Are listed on
bonds are subj. to call
Trac. Co.
St. Louis ft Springfield 1st M.
int. date on 60 days' notice at 107H ft int.
Are guar., p. ft L, by
111. Trac. Co.; $241,000 (not incl. in outstanding amount) held in s. f.
Peoria Bloom, ft Cham. Tr. 1st M. bonds are guar., p. & 1., by 111. Trac.
on
any
They are subject to call on any interest date at 105 on
Co.
30 days' notice.
ROAD.—Extends from Venice, opposite St. Louis, to Peoria and Bloom¬
ington, with branches from Staunton to Hillsboro. Trackage, 210.49 miles;
main track, 10.10 miles belt line, 0.29 miles second track, 2o.06 miles of sid¬
ings and turnouts and 7.59 miles of industrial tracks; total, 251.53 miles.
Standard gauge.
Owns 64 passenger cars, 56 express cars, 488 freight cars
9 locomotives, 13 miscellaneous cars.
V. 102, p. 68; V. 103, p. 1302.
(23)
Topeka Railway & Light Co.
qua
Co.
and
commercial electric light
and power and steam-heating properties in Topeka and Oakland, Kansas,
Population served (1915 State Census), about 50,000.
Franchises, with
tric
one
ROAD AND PLANT.—Operates 6.5 miles of line, covering the prlucipal
streets of Ottawa, and
runs
out of the city to Ellis Park, a pleasure
resort on the Illinois River.
Also has extensions from Ottawa to Chautau¬
Park.
Equipment, 8 motor and 3 other cars.
Also does entire elec¬
light and power business in Ottawa and wholesales power to local
utility companies in La Salle, Utlca, Seneca. Morris, and to the Chicago
Ottawa & Peoria Ry.
At Marseilles owns a hydro-electric plant with steam
auxiliary, having a capacity of 8.000 h. p., and at La Salle has a 4,000 k. w.
turbine generator with auxiliaries.—V. 97, p. 729.
(18)
Peoria Railway Co.—A trolley road.
ORGANIZATION.—Incorporated under general railroad laws of Illinois
1906 and is successor to the Central Railway Co.
Has acquired, owns
and controls all street railway lines in Peoria and outlying suburbs of Averyville, Peoria Heights and East Peoria.
The entire stock is controlled by
the Illinois Traction Co.
Franchises in Peoria expire in 1926 and those in
adjoining districts in 1924.
Favorable Decision.—On Oct. 26 1911 the Illinois State Supreme Court
reversing the Circuit Court, held that the City Councils could not grant a
franchise to the Peoria Ry. Term. Co. over streets to which the Peoria Ry.
already held a franchise.
V. 93, p. 1535.
Rates.—See Illinois Traction Co. above and V. 108, p. 2630; V. 110,
p. 2658.
In
Date.
STOCK AND BONDS—
Com. stock,
ppAfwfPfi
First ft ref mtge,
gold
Interest.
$1,010,000
Outstanding.
$1,010,000
$3^606.000,1
1906
2,354,000
5 g F-A
See'text".""
C*tf[Interest payable in New York.
($1,000)
General mortgage
Bonds.—Of the
Maturity.
nnn
Qtopif
tf 1909
908.000
5%
$3,600,000 first and ref. bonds, $291,000
Feb 1926
are
reserved
for additions and
They
are
improvements at 75% of cost; $900,000 have been retired.
guaranteed, p. 8c i., by endorsement by the Illinois Traction Co.
secured by a first mortgage upon all properties and f ranRailway Co. now owned or hereafter acquired.
The
Illinois Trust ft Savings Bank, Chicago, 111.
Remain¬
ing bonds mature on Feb. 1 as follows:
$110,000 In 1921. $115,000 in
The bonds
are
chises of the Peoria
trustee
is
the
1922, $120,000 in 1923, $125,000 in 1924. $130,000 in 1925, and the re¬
maining $750,000 in 1926.
They are subject to call on any int. date at
105 and int.
See V. 83, p. 38. 436;V. 80. p. 42; V. 90, p. 560.
ROAD.—Owns and operates 54 miles of standard-gauge crack, 113 motor
cars, 30 other cars.
Also owns valuable property near the centre of city and
considerable other real estate, including several amusement parks, estimated
to be worth $500,000.—V. 101, p. 213; V. 108, p. 2630; V. 110, p. 2568
2658.
(19)
Qulncy Railway Co.
ORGANIZATION.—Incorp. in Illinois In 1912
as successor to the Qulncy
Horse Ry. & Carrying Co.
V. 94, p. 1628.
Does entire (electric) street railway business in
chise is unlimited, granted in 1865, and
franchises mature from 1922 to 1937.
Quincy.
Principal fran¬
exclusively for 50 years.
Other
Rates.—See Illinois Traction Co., above.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock, $1,000,000.
$1,000,000
Bonds, $1,500.000
1912
5%
599.000 Feb. 1 1932
Quincy Horse Ry. 8c O. Oof 1898
5%
400,000 Oct
1 1923
($550,000)
(Portland Trust Co., Trustee.
The Quincy Horse Ry. ft Carrying Co. $400,000 5% bonds originally
matured on Oct. 1 1918, but were extended for 5 years.
ROAD.—Operates 22.85 miles of track; 51 cars; 25 one-man cars were
delivered in September 1919.—V. 94, p. 1628.
-
(20)
St. Louis Electric Bridge Co.
St. Louis Electric Terminal
Railway
Co.
Owns extensive freight and passenger terminal stations costing about
$5,000,000; also valuable real estate and a 50-year franchise giving the Illi-
nois Traction an outlet In St. Louis.
Also owns and operates city cars over
about 18 miles of street railway in Madison, Granite City and Venice.
Fare Increase.—See under Illinois Traction Co.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
AH owned by Illinois Traction Co.
Common, $1,000,000
Preferred 5%
^
$1,000,000
First mtge, $3,500,000, gold)
1909
4-5 F-A
1,724,000 Dec 1 1929
($1,000). guar p 8c i
tf/Int. at Merchants' Bk. of Canada. Montreal.
Bonds.—First M. (temp.) bonds are subject to call at par on any Interest
day.
No sinking fund.
They are guar., p. ft I., by Illinois Traction Co.
(22)
St. Louis Springfield & Peoria RR.
ORGANIZATION.—Incorporated In Illinois Dec. 1 1909 as a consolida¬
Springfield Ry., the St. Louis 8c Staunton Ry., the
Tri-City, Trac. Co. and the St. Louis 8c Northeastern Ry.
Operates on
private r ght of way except through cities and towns (about 17 miles), whers
franchises extend to or beyond 1953.
In 1911 acquired the Springfield
Belt Ry.
In 1912 acquired the Peoria Lincoln 8c Springf. Ry. Co., the Peoria Bloom
8c Champaign Trac. Co., the Terminal Pow. Co. and the Springfield ft
Northeastern Traction Co. (acquired Nov. 1 1913).
Has long-time contracts for use of bridge and terminals of St. Louis Elec¬
tric Bridge Co. and St. Louis Electric Terminal Ry., enabling it to operate
directly Into St. Louis.
In March 1916 issued $1,000,000 Ser. "A" 5% pref. stock to retire a like
tion of the St. Louis 8c
of Gen. Mtge. bonds.
Fare Increase.—See Illinois Traction Co. above.
amount
operate without competition the street railway,
minor exception,
extend beyond Feb. 1 1933.
Date.
STOCK AND BONDS—
Common
PfAfAKTAfl
Interest.
stock
Outstanding.
$1,500,000
StAPlf
Maturity.
onn
—
M"$K500,0<jO gl 1916 5~g F-A~~"
1,487'.000
($100, $500, $1,000,&c)c»&r*/Int. in N. Y., New York Trust
Feb.'l" 1933
Co.. Trustee
Topeka Edison Co mortgage! 1905
5 J-J
821,000 Sept. 1 1930
$1,250,000
tf j Int. atCont.&Comm.Tr.&S.B., Chic., Trus.
Topeka Ry mtge (see that co)_ 1904
5 g J-J
1,070,000 Jan. 11930
1st lien ft ref
Bonds.—The 1st Hen and ref.
bonds
are
secured by pledge of the entire
capital stocks and, excepting $1,891,000 underlying issues, all the bonds
of the subsidiary cos.
$2,219,000 are reserved to acquire or retire under¬
lying bonds, and remaining $4,057,000 may be Issued to the extent of 80%
of cost of additions and impts. to the properties of the sub. cos., but only
when annual net earnings are \ % times the annual int. charges, Incl. the
bonds proposed and all underlying bonds held by public.
They are guar.,
p. & 1., by the 111. Traction Co. and are red., all or part, on any int. date
at 105 and int.
Sinking fund began
Aug. 1 1917 of 1H% per ann. to
and incl. 1929 and 1% thereafter of the total amount of bonds outstanding
(incl. underlying bonds), less amounts paid on account of sink. fund, re¬
quirements of underlying mtges.
(It Is estimated 32% of the $3,250,000
outstanding bonds will thus be retired Feb. 1 1933.)
$94,000 in sinking
fund
Oct. 1 1920.
Bonds in fund are held alive.
The Topeka Edison
Co. bonds have a sink, fund of $15,000 per ann., payable Dec. 15 $180,000
have been retired.
Beginning with the 2-year period ending May 31 1918,
and during each 2-year period thereafter, there must be set aside for
maintenance and depreciation an amount averaging 12% of the combined
annual gross earnings of the subsidiary cos.
V. 104, p. 74.
EARNINGS.—Year ending Dec. 31 1919, gross, $1,101,336; net, after
taxes,
$290,037; int., $156,060.
In 1918, gross, $918,821; net, after
taxes. 259,221; int., $158,359.
PROPERTIES.—39 miles of electric street railway, largely 70 to 79- b.
Trails; 51 double and single-truck motor cars, 28 trailers; power plant, gen¬
erating capacity, 5,893 h.p.; 255 miles of power and light-distributing lines
and 8,300 meters; exhaust steam system for heating purposes; miscellaneous
real estate.—V. 104. p. 74.
(a) Topeka Railway Co.—Controlled by Topeka Ry. ft Light Co.
ORGANIZATION.—Incorp. under general railway laws of Kansas In
in 1903 absorbed the Vinewood Park Ry., and made a new mtge. for
$1,259,600.
On June 4 1903 obtained a new 30-year franchise, running from
that date, with the provision that $400,000 be expended within 3 years on
the syetem.
Also has secured franchises in perpetuity en county roads now
occupied, with privilege of hauling freight.
City agrees never to reduce
rates to where company will earn less than 10% on stock.
The city is to
receive 10% of earnings remaining after 10% has been earned.
Upon ex¬
piration of franchise city has the right to acquire the property, but not
before.
V. 76, p. 866, 1302.
On June 26 1916 authorized capital stock
was increased from $1,250,000
to $2,250,000.
V. 103, p. 62.
In Dec. 1917 the Kansas P. U. Comm. granted auth. to issue $81,001
1st ft ref. mtge. bonds for the purpose of paying off outstanding obligations
and for extensions and betterments.
Up to April 1 1920 these had not
1892;
been issued.
Fares.—In Sept. 1919 was auth. to charge a 6-cent fare.
V. 107, p. 1005.
Effective Aug. 16 1920 was auth. by the Kansas
Court to charge an 8 cent fare V. Ill, p. 794.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Compare
Industrial
Maturity.
(Stock, $2,250,000 ($100)
' $1,250,000 f.p
First mtge, $1,250,000, goldf 1904
5 g J-J
1,070,000
Jan 1 1930
($1,000)
c* tf lint, at Cont.& Comm.Tr.ft S.B.,Chic.,Trus.
First & Refunding bonds
ORGANIZATION.—Incorporated in Jan. 1907.
Owns a bridge from
Salisbury Street, St. Louis, to Venice. 111.
In April 1909 company in¬
creased capital stock from $2,500 to $1,000,000.
V. 88. p. 946.
Stock all
owned by Illinois Traction.
For franchise provisions, see V. 85, p. 100.
Construction was started in Oct. 1907 and bridge was formally opened
on Nov. 101910.
V. 85. p. 100; V. 88, p. 946; V. 91. p. 1328.
First mtge.' gold (5%),auth,,$3,500,000($l.,000)tf;outstanding,$2,592,
000; date 1913; due Dec. 1 1929.
E. Bentley Hamilton, Peoria, trustee
This mtge. replaced the old (temporary) mtge. of 1909.
V. 98, p. 74.
(21)
ORGANIZATION.—Incorp. in Maine and owns the Topeka Ry.
Edison Co. (V. 92, p. 730).
These own
(see below) and the Topeka
i
1916
5%
See text.
Feb 1 1933
iNew York Trust Co., Trustee.
Bonds.—Remaining bonds are reserved for 80% of cost of new power¬
house and for betterments and additions.
Subject to caU at 105 and Int.
$180,000 have been retired.
A sinking fund began Jan. 1 1910, which Is
sufficient to retire $15,000 per annum at 105 and interest.
$120,000 bonds
of 1916 are deposited as collateral with the Topeka Ry. & Lt. Co.
EARNINGS.-—For the year end. Dec. 31 1919, gross, $542,150; net
$127,143;
int.,
$63,972; suiplus, $63,171.
i918, gross, $450,081; net,
$124,418; int., $61,000; surplus, $63,418.
ROAD.—See Topeka Railway ft Light Co. above.
OFFICERS.—Pres., W. B. McKlnley, Champaign, III.; V.-P. ft Treas..
Geo. M. Mattis, Champaign; Sec., E. A. MacNutt, Montreal
V. 103,
p. 62; V. 104, p. 74; V. 107, p. 1005; V. 108, p. 380; V. Ill, p. 794.
(24) Wichita Railroad & Light.—Trolley.
ORGANIZATION.—Chartered May 1 1900 for 30 years.
Street rail¬
franchise expires 1933.
In 1910 entered into a 20-year contract for
purchase of power from Kansas Gas & Elec. Co.
The $300,000 1st M. 5s due Oct. 1 1919 were paid off at maturity, a like
amount of ref. ft cons. M. 5s being issued in connection therewith.
way
STOCK AND
BONDS—
Date.
Interest
Outstanding
Maturity.
$300,000
300,000
Ref.&cons.M.,$1.500,000.g.tM907
5 g A-O
1,493,000
Oct 1 1932
Bonds.—1st M. bonds are subject to call at 105 on 6 months' notice.
ROAD.—Owns 32 mlle9 of trolley track in Wichita, Kan., including
double-track bridge over the Arkansas River and extensions to Wonderland
Com stock, $1,500,000 ($100)
Pref. stock ($100)
Park and Fair Grounds:
107
cars.—V. 93.
CHARLESTON,
d.
941. 1192.
S.
C.
CHARLESTON CONSOLIDATED RAILWAY & LIGHTING CO.
ORGANIZATION.—Incorporated In South Carolina on April 19 1910,
Leases for a period of 99 years from Jan. 1
1910 the Charleston Cons. Ry.,
Gas ft Elec. Co.
Lease guar. 6% on pref. and 4% to July 1 1911, 5% to
Jan. 1 1913 and 6% thereafter on com. stock;
also int. on outstanding
bonds of the Char. Cons. Ry.. Gas ft Elec.
Fares.—On Nov. 12 1919 a 7 cent fare was put into effect.
STOCK—
Par.
Common
Preferred
$50
_
50
Authorized. Outstanding.
$3,000,000 $1,500,000
1,500.000
500,000
Dividends.
None
None.
~
Oct., ltteo.]
ELECTRIC
^OFFICWRS.-Pres.. P. H. Gadsden;
V.-P., Walton Clark; V.-P., Lewis
LLJie; V.-P. & Asst. Sec., C. M.
Benedict; Sec., G. W. Curran; Treas., I.
Bendt.
W
Morris; Asst.
Sec.-Treas., M. C. C. Tessier; Aud., Chas. J.
V. 106, p. 2227; V. 108.
p._877; V. 109, p. 2355; V. 110, p. 1642.
(1)
Legislature, panting perpetual charter and gas & elec.
light
powers.
stock
increased by 30.000 shares
(par
until April 19
$50), "the stockholders having the right
1919.
Y. 108. p. 1390.
to subscribe pro rata
STOCK AND BONDS—
Stock, com, $4,500,OOO ($50)
Dale.
Interest.
Outstanding.
Maturity
Q-J
$3,829,95)
See text.
$500,000 ($50).
Q-J
500,000
See text.
City first mtgel 1898
5 g J-J
703,000 Jan 1 1923
($1,000), $850,000 goldctf
(Int. at Merc. Tr. & S. D. Co..Bait.
Consol mtge, gold, $2,500.-1
1899
5 g M-S
1,745,000 Mar 1 1999
000, coupon ($ 1,000)__»tf/Interest at Baltimore Trust
Co., Trustee
Pref 6% eum
Holders
collect coupons at Carolina
Savings Bank and People's
National Bank, Charleston, if
presented before the 10th of the month.
can also
Bonds.-—Of the consolidated 5s,
$703,000 are reserved to retire a like
City Ry. first 5s.
Charleston City 1st 5s have a sink, fund of
exceeding $7,350 per ann. for the purchase or redemption of said bonds
at 105 and interest.
amount of
not
Dividends.—See dividends guaranteed under lease above.
ROAD,&c.—Owns 37.51 miles of electric road In Charleston.
The com¬
has consolidated its two power stations; both
railway and light and
power divisions are being operated from same station.
pany
OFFICERS.—Pres., Philip H. Gadsden; V.-P., Theo. W. Passailaigue;
Sec. & Treas., Chas. J.
Charleston.
Date.
1st & ref M $30,000,000 gold!
Interest.
Outstanding.
Maturity.
$6,000,000
4.487,000 July 1 1943
at Farmers' L. & Tr. Co., N Y., Trustee
1913
5 g J-J
Underlying Bonds—
1912 sold to James Sottile the Seashore
division, incl. wharf properties, ferryboats, the railroad line from Mt. Pleasant
to the Isle of Palms,
with its equipment, and the
power house on Sullivan Island.
Sale was auth.
by an Act of the
Legislature approved Feb. 12 1913 and formal transfer
was made Mar.
15 1913.
V. 96. p. 862.
See Charleston-Isle of Palms
Traction Co. below.
Franchises are perpetual.
Also owns the
capital stock of the Charleston
($698,150) and the Charleston-Edison Light & Power Co.
($100,000), and thus controls the whole field of light and
transportation
in Charleston.
V. 92, p. 880.
s
On March 18 1914 shareholders authorized
the issue of $500,000 new com
mon stock.
V. 98, p. 999, 610.
On March 19 1919 auth. common
was
STOCK AND BONDS—
Stock $6,000,000 ($100)
Char Elec Ry, L & P
Feb. 21 1899 as a consolidation of the
Charleston City Ry. and Charleston &
Seashore RR. under Special Act of
In Oct.
25
($1.000,$5,00®,&c.)c*&r*.tf/lnt.
Charleston Consolidated
Ry., Gas & Electric Co.
ORGANIZATIONS—Organized
So. Car.
RAILWAYS
Bendt; Asst. Sec.-Treas., M O. C. Tessier, all of
Offices, No. 141 Meeting St., Charleston.—V. 108,
p. 1390.
1st Ml 1899
5 g J-J *
313,000 July 1 1929
$500,000 g ($1,000) sf c*ntf/Int. at Merc. Tr. & Dep. Co., Bait., Trustee.
Char Elec Ry, L & P ref &
ext\ 1906
5 A-0
452,000 April 1 1936
M $2,000,000 g
($l,000)c*tf/Int. at Merc. Tr. & Dep. Co., Bait.,Trustee.
Fries Mfg & P 1st M goldl 1900
5 g J-J
456,000
Jan 1 1940
($1,000) optional at 110.--/int.
Anderson Water Lt & P Co
Winston-Salem Power Co
at Equitable Tr. Co., N. Y.,
249,500
54,000
trustee.
-
-
Bonds
of Controlled, &c., Cos.—
Greenv-Caro Power 1st M gl 1905
5 g M-N
265,000 May 1 1935
($1,000)
tf/lnt. at Old Colony Tr. Co., Boston, trustee
Bonds.—Of the 1st and ref. bonds, $1,567,500 are reserved for prior liens;
remainder issuable for 70% of cost of extensions and acquisition of other
properties.
Redeemable in whole or in part at 105 and interest.
The
Charlotte Electric Ry., Light & Power 1st M. bonds have a sinking fund,
operative July 1 1900, of 1% of bonds out; to be invested in bonds drawn
by lot at 107)4 and int., if not obtainable at lower figure in open market;
$57,000 have been canceled.
The ref. and ext. mtge. bonds have a sinking
fund operative April 1907 of 1 % of bonds issued, for purchase of bonds at
107)4 and int., if obtainable; otherwise, such investments as trustee deems
proper.
V. 88, p. 1252.
$33,000 have been retired.
A sinking fund of
1% on the Greenville-Carolina Power Co. bonds began May 1 1910.
EARNINGS.—For
Year—
years
ending Dec. 31:
Gross.
Net,aft.Taxes. Deprec.
$2,815,358
$630,284
$260,000
2,501.762
851.046
171.000
1919
1918
Bond Int.
$316,060
316,860
Bal.,Sur.
$54,224
363,186
PROPERTY.—Operates 70 miles of street railway; 60, 70 and 90-lb. T
Power and light primary lines aggre¬
gating 1,644 miles and serving 16 communities; 2 gas plants, serving Char¬
lotte and Greenville with 87.5 miles of mains; water plant serving Anderson
with 26 miles of mains. Leases Savannah Power Co. s plant near Anderson;
capacity, 3,000 h.p.
Total capacity of plants operated, 24,000 h.p., of
which 19,000 h.p. is hydro-electric generation.
Also has favorable con¬
tract with Southern Power Co. for the purchase of additional
power.
and girder rails; gauge, 4 ft. 8)4 in.
OFFICERS —Pres.. Z. V. Tavlor; V.-P.. A. V. Harrill;
Sec,. W. C.
Parker; Asst. Sec., J. R. Cherry; Treas., E. O. Marshall; Gen. Mgr., E. F.
Taylor.—V. 101, p. 1886; V. 104, p. 1046; V. 107, p. 502; V. 110, p. 79.
!
CHARLESTON-ISLE OF PALMS TRACTION
CO.
ORGANIZATION.—Incorp. in S. C. Jan. 9 1913 with auth. capital o^
$1,000,000, to build railroads, steam or electric, street railways, &c.,
operate steamboats, and to take over what was
formerly the Seashore
division of the Charleston Consol.
Ry., Gas & El. Co.
lighting business.
Fare Increase.—In Sept., 1920, the
co. was auth.
Comm. to charge 5 cents per mile.
V. Ill, p. 1082.
Also does electric-
by the S.
C.
RR.
ROAD, &c.—Owns 10 miles from Mt. Pleasant (connecting by
ferry with
Charleston) to Sullivan's Island and Isle of Palms, a pleasure resort on
Atlantic Coast, incl. land at Isle of
Palms, ferry, power house on
Sullivan's Island and sub-station at Mount
Pleasant, &c.
Owns and oper¬
ates 19 pass, and 3 freight cars and 2
ferry boats.
the
OFFICERS.—Pres.. James
V. 96, p. 201, 862; V.
Ill,
p.
Sottile;
V.-P.
&
Gen.
Mgr.,
I.
PIEDMONT
&
NORTHERN
ORGANIZATION.—Incorp.
RY.
on
Feb. 24 1911 in South Carolina, and
on
about July 1 1914 took over the properties of the Piedmont Traction Co.
and the Greenville Spartanburg & Anderson Ry. Co.
or
Government Control.—This property came under Government control
under the President's proclamation of Dec. 28 1917, but revertod to private
control on March 1 1920.
$6,286 ,900 1st M. 5% notes due July 1 1919 were
exchanged for 1st M. 5% bonds due July 1 1954.
STOCK AND BONDS—
Stock. $15,009,000
($100)_
First
mortgage
$50,009,000/
($1,000). gold
Blank.—
Date.
Interest.
-
1914
5 g J-J
Outstanding.
.$8,581,600
Maturity.
6,286,900 July
1 1954
c* ntfllnt. at Farmers'Loan & Tr. Co.. N. Y.,trua.
Stock.—$1,415,400 additional stock is held in treasury.
692, 1082.
Bonds.—Of
$262,000
whole
CHARLESTON, WEST VIRGINIA.
CHARLESTON
INTERURBAN
RR.
ORGANIZATION.—Incorp. in 1909
increased
was
on
Nov.
10
the Charleston
with $100,000 capital stock which
1914 to $1,500,000 in part for the
purchase of
Traction*Co., a line from St. Albans to South Charleston,
taken over as of that date, and in part as a stock
dividend, all earnings since
incorporation having gone into Extensions and betterments.
Lease.—Leases the Kanawha Valley Traction Co. (whose
$500,000 capita)
stock is owned by the Ohio Valley Electric
Ry.) for 99 years from Jan. 1
1910 at an annual rental beginning with $10,000 the first
year and in¬
creasing to$20.000in 1916 and thereafter, and has assumed that
company's
1st M. bonds.
Franchise of the Traction Co. in the city of Charleston
expires In
Interurbau lines are operated almost entirely on
1954;
private rights of way.
In Mar. 1919 issued $450,000 secured notes to
refund a like amount of
1-year 6% notes due at that time. V. 108, p. 1164.
Fare Increase.—In Aug. 1920, the co. was auth.
by the W. Va. P. S.
Comm. to increase fares from 6 to 7 cents with 4 tickets for
25 cents and 10
for 60 cents.
V. Ill, p. 791.
or
the icmaining bonds $3,451,100 are held unpledged and
are pledged as collateral.
Redeemable at option of company, in
part, on any interest date since July 1 1914 at 105 and interest.
EARNINGS.—For cal. year 1919: Standard return by U. S. Govt.,
$435,789; other income, $17,891; interest, taxes, &c., $417,848; net income,
$35,833.
Passengers carried in 1919, 1,816,618.
ROAD.—Owns and operates 23)4 miles from Charlotte to Gastonia;
89.90 miles Spartanburg to Greenwood, S. O., with branches from Belton
to Anderson, 11.30 miles, and from Belmont Jet. to Belmont, 3.19 miles
(opened March 1 1916), total mileage of track operated, incl. spurs and sid¬
ings and 10.50 miles operated under contract, 206.14.
Equipment consists
of 37 passenger cars, 120 freight cars, 25 ballast cars, 10 caboose cars, 16
service cars, 16 electric locomotives, 2 miscellaneous cars.
OFFICERS.—Pres., Z. V. Taylor; V.-Ps., W. S. Lee and J. B. Duke;
V.-P. & Gen. Mgr., E. Thomason; Sec. & Treas., N. A. Cocke; Aud., Bond
Anderson, all of Charlotte.—V. 105, p. 2453; V. 107, p. 78, 502, 1837;
V. 110, p. 872, 2076.
.
CHARLOTTESVILLE, VA.
CHARLOTTESVILLE & ALBEMARLE RY.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
$1.5OO.O0O See text.
450,000 Mar 151922
__c*lSafe Deposit & Trust Co., Baltimore, Trus.
Kan Val Tr 1st M, $2,000,0001 1906
5 g J-J
1,200,000 Jan
1 1946
($1,000) goldc
..tf/lnt. at Fidelity Trust Co., Phila.. Trustee
Stock. $1,500,000 ($100)
Secured notes ($500 & $1,000) (1919
ORGANIZATION.—Organized in Virginia and formed by
-
6 g M-S15
gold
Bonds.—Payment of prin. and int. of the Kanawha Val. Trac. Co. bonds
has been assumed by the Charleston Interurban
RR. $600,000
of the
bonds have been deposited as security for the notes issued
by the Charleston
an agreement
of consolidation dated Nov. 24 1913 between the Redland Power Corpora¬
tion and the Charlottesville & Albemarle Ry.
A lighting and power com¬
pany
with
chises
are
a short Interurban railway as an adjunct.
Light and power fran¬
perpetual; County Ry. franchises are perpetual, while city fran¬
chise expires In 1944.
Fare Increase.—On Apr. 16 1918 was auth. by the Va. Corporation Comm.
to eliminate the
6-for-a-quarter tickets and to increase children's tickets
V. 106, p. 1688.
Interurban RR.
from 2)4
Notes^—Secured by deposit of $600,000 (assumed) Kanawha Valley Trac¬
tion Co. 1st M. bonds.
Red., all or in part, at 100)4 and int. on any int.
date upon 60 days' notice.
Rates.—Effective Sept. 13 1920, the company was auth. to raise or lower
rates for electric service based on the price of coal.
EARNINGS— Gross.
Cal.Year—
Earnings.
STOCK AND BONDS—
Date.
Common stock $500.000 ($ 100)
1918
Net {after
Taxes).
$234,995
176,215
162,602
$578,189
418,855
326,149
1917
1916
Bond.&c.
Balance.
Interest.
Rental.
$114,116
95,523
88,812
$20,000
20,000
20,000
Surplus.
$100,878
60,691
53,790
ROAD.—Operates 40.5 miles of track between St. Albans and Cabin
Line Is to be extended to Montgomery, about 10 miles further on.
Creek.
70. 80 and 100-lb. T and girder rail.
Standard gauge.
40 passenger cars
(all of P-A-Y-E type), 5 freight cars and 2 trailers.
Power is obtained from
the
Virginian Power Co. under Jong-term contract.
OFFICERS.—Pres., W. A. MacCorkie; V.-P. & Sec., F. M. Staunton
Treas., A. M. Hill; Gen. Mgr., I. N. Smith.—V. 105, p. 1208; V. 106,
p.
1125; V. 108, p. 1164; V. Ill, p. 791.
dustrial"
Section
^
7%cum$200,000($100)
First mortgage $750,000 goldl
1915
($1,000)
Bonds.—Additional bonds may be Issued only for 85% of cost of impts.
only when net earnings for the past 12 months are equal to
twice the Interest charges on the bonds outstanding and those to be issued.
A special depreciation and reserve fund is provided out of gross earnings
for
maint.,
&c.
$19,000 (not incl. in amount outstanding) are held in
Red. at 105 and int. on 60 days' notice
V. 100, p. 1436.
the treasury.
.
Dividends.—7%
per ann.
Is being paid
our
"Railway and In
|
ORGANIZATION.—Incorp. in July 1913 in Maine
as
a
consolidation
on
pref. stock.
On
common
firs*
div. of 2% and 1% extra paid in June 1916.
In Dec. 1916 paid 2)4%*
In 1917, June,2)4%; Dec.,2%.
In 1918, Dec., 1%.
Inl919,5%.
None
since.
Year—
in
J-D
and exts. ana
1919
see
Interest.
Outstanding.
Maturity.
$500.000 Dec ' 19.2 ]A
122,700 June*20.3X
6 g A-O
381,000 April 1 1943
c*cpt/Interest payable In Baltimore, Md.
Pref stk
EARNINGS.—For years ending
CHARLOTTE, N. C.
SOUTHERN PUBLIC
UTILITIES CO.
Allied with the Southern Power Co., which
cents to 3 cents.
1918
1917
Gross.
Net.
$153,011
122,231
120,120
ROAD.—Miles
of
track,
Dec. 31:
Other Inc.
$73,851
53,203
60,279
$761
757
264
Chgs.
$33,115
32,031
29,236
Pref. L
9.
$8,589
8,589
8,589
Surplus.
$32,908
13,340
22,719
3.45; standard gauge.
Rails, 83 and 97-lb.
1 power station.
1 sub-station.
of the Charlotte Electric Ry., Charlotte Gas <k Electric Co. and Charlotte
Power Co. (these three forming prior to Jan. 1 1911, the Charlotte
Electric
girder and 50-lb. T.
Ry., Light & Power Co., which company issued the bonds shown in the
table.—See "Electric Ry." Sec. for May 1915); Greenville (S. C.) Gas A
Electric Light & Power Co.; Greenville Traction Co.; Greenville Carolina
OFFICERS.—Pres., Norman James: V.-P., John L. Livers; Sec.
Treas., W. R. Morton.—V. 103, p. 2428; V. 106, p. 606, 1688, 2289.
10
cars.
&
Power Co.; Fries Mfg. & Power Co., Winston-Salem, N. C.; Winston-Salem
Power Co.; Anderson (S. C.) Water, Light & Power
Power Co., ThomasvilJe (N. C.) Power Co., Greer
Qo., Chester (S. C.)
(S. C.) Light & Power
Co., Thornton Light & Power Co., (Hickory, N. C.) and City of Reidsville
Light & Power Plant, Reidsville, N. C.
The Charlotte Elec. Ry. in May
1915, through an amendment to its charter, reduced its capital stock from
$1,250,000 to $1,000.
Franchises with
one
minor exception are either unlimited in time
or
run
beyond July 1943.
Fare Increase.—In Aug. 1918 was auth. by the North Carolina
Corpora¬
tion Comm. to increase fares from 5 to 7 cents on lines in Charlotte and
Winston-Salem. V. 107, p. 502.
The city of Charlotte appealed from this
order of the Comm. but the North Carolina Supreme Court in Dec.
1919
affirmed the decision of the Mecklenburg Superior Court
permitting the
company to
charge 7 cents.
of Greenville and
V. 110, p. 79.
In Sept. 1918 the municipalities
Anderson, S. C., also auth. an increase in fares from
5 to 7 cents (or 4 tickets for 25c.), effective Oct. 1 1918.
CHICAGO.
AURORA
ELGIN
&
CHICAGO
ILL.
RR.—Third-rail electric and trolley.
Receivership.—On Aug. 9 1919 Judge Evan A. Evans of the U. S. Circuit
Court at Chicago appointed Joseph K. Choate receiver for the co. on appli¬
of the General Electric Co., holder of a bill for $3,216, which It
cation
alleges it was unable to collect.
Two other creditors for smaller amounts
joined in the petition.
It was also set forth in the petition that the co
had defaulted on $38,650 bond int. due the Cont. & Comm. Trust & Sav
ings Bank, Chicago, June 1 1919, and the interest due March 1 1919 on a
deDt of $45,713 owing a Cleveland bank.
It also stated that $76,975
mtge. bond int. had been defaulted. V. 109, p. 675.
Foreclosure Proceedings.—In Nov. 1919 the Northern Trust Co., Chicago
a foreclosure suit against the company under the 1st & ref. mtge
filed
V. Ill, p.
492.
Compare V. 109, p. 1890.
|
26
ELECTRIC
\
a consolidation In April 1906 of the Aurora Elgin
Railway, the Elgin Aurora & Southern Traction Co. and the
RR.
V. 82, p. 279, 691, 1155.
Chartered in
Illinois under law applying to steam railroads.
Free. L.J. Wolf, in a letter
dated
May 20 1909 (V. 88, p. 1618), stated that system is "in the main od
ORGANIZATION.—Is
6c.
Chicago
Cook
County & Southern
private right of way or protected by 50-year franchises or grants without
limit."
Does freight and express as weft as passenger business.
V. 83,
p. 490.
Has exclusive contract with the Metropolitan West Side Elevated
to
operate over its tracks.
Stockholders voted Oct. 18 1910 to purchase the Chic. Wheaton &
fty.. which runs from West fhic. to Geneva, aht. 10 miles.
Fares.—Effective Aug. 1 1920, the company was auth. to
Aurora and Elgin from 8 cents to 10 cents
cash.
receives 3 cents per mile on interurban lines.
Pointer est in Default.—We have been officially
V. Ill,
p.
raise fares in
790.
informed that
as
The co.
of Oct. 11
1920 the co. was in default of the following interest:
Elgin Aurora & Southern 1st Mtge. 5s—Int. due Dec. 1
II)
June 1
1919 and
.
Financing !— IrTAug.'l6l8 the coTTr eaL*fa"new issue of $1,219.000 3-yr
714% Coll. Trust notes dated Sept. 1 1918, secured by 1st & Ref. M. bonds
Corp. agreed to loan the co. $219,000 provided:
(1) That the maturity of the $1,546,000 outstanding Elgin Aurora & South¬
ern Traction Co.
bonds be extended from June 1 1919 to Sept. 1 1921.
at 75 and the War Finance
(2) That the banks holding the co.'s $237,500 unfunded notes subscribe for
$200,000 of the new 7)4% notes at par and accept the co.'s unsecured notes
for the balance.
(3) That the holders of the $800,000 6% Coll. Trust notes
maturing Sept. 1 1918 exchange their notes, par for par, for the new 7M%
notes.
V. 107, p. 905.
In March 1919 we were informed that this plan
of financing had been carried out.
STOCK AND BONDS—
Div.&due date
$3,100,000
See text.
3.100.000
See text
1906
3,079,000 July 1 1940
Int. at Clt. Sav. & Tr. Co.. Cleve., and also
inJST. Y.
Trustee, North. Tr. Co.. Chic
1918
7)4%
1,219,000 Sept. 1 1921
5 « A-O 15
2,527,000 Apr 15 1941
f 1901
Date.
Common, $3,10^,000 ($100)
Pref
First and refunding mortgage
$15,000,000. gold
($1,000)
See
c*&r*tf
text
Coll trust notes
E & O Ry flcst mortgage
$3,000,000
($1,000), gold{Cont.
cannot
Interest.
Outst'd'g.
Q-J
Q-J
5 g J-J
$3,100,000(1100) 6% cum
------
A
Application to Carry Freight.—See under "Chicago Elevated Rys.'
111. Supreme Court upheld the right of
regulate street car service in Chicago
regardless of the provisions of the contract ordinances of 1907 between the
Chicago City Council and the surface lines.
Pursuant to this opinion a
decree was entered by the Circuit Court of Cook County in favor of the
Comm., which was affirmed by the 111. Supreme Court.
An appeal was
taken to the U.S. Supreme Court which held that the decision of the Illinois
Supreme Court w^g conclusive.
Decision.—On April 19 1917 the
Fares.—Effective Dec. 27 1919 the Illinois P.U. Comm. ordered
& Comm. Tr. & Sav.bk..Chic., Trus.
New York.
1,540.000 Sept. 1 1921
-tf (Interest payable In Chicago and
be called
Elgin Aurora & Southern first f 1901
mtge., $2,000,000 ($1 000) j Int. at
gold, sinking fund->,_-c*tu
5 g J-D
First Nat. Bk.,' N.Y.C.
April 1
1909: since
6% cum
Bonds.—Of the $15,000,000 (originally $25,000,000, but reduced In 1910)
1st <k ref'g bonds, $1,659,000 are in treas., $4,135,000 reserved for prior liens
and the balance for improvements, extensions and ^elf-supporting acquisi¬
tions, under rigid restrictions.
They are not subject to call now.
See V
88. p. 1618.
Collateral trust notes were secured by deposit of $1,656,000
1st and ref. mtge. 5% bonds, but these bonds were sold by trustee to the
note and bondholders' protective committee and the War Finance Corp. in
Nov. 1919 (see above under "Sale of Collateral.")
On the Aurora Elgin &
Chicago Ry. bonds a sinking fund of $50,000 per annum began on April 15
1911.
See V. 74, p. 726.
$473,000 have been retired.
The Elgin Aurora
& Southern bonds originally matured June 1 1916, but were extended to
June 1 1919 and again to Sept. 1 1921; remaining $454,000 held in sinking
fund.
V. 108, p. 2122.
Dividends.—First dividend on pref.—114%—paid July 1906 (V. 82. p.
1436), and the same amount quarterly up to and including April 1909.
July 1909 dividend increased to 1H% and same amount paid quar. to
Aug. 1 1915.
Oct. 1915 div. omitted (V. 101, p. 1012) and none paid since."
On common, first dividend-r-^ %—Oct. 7 1907.
In 1908 to 1913, incl.,
3% yearly.
In 1914, Jan., *4%; April, % %; July, *4 %; Oct. div. deferred
(V. 99, p. 894, 968). and none paid since.
REPORT.—For year ending Dec. 31 1918 (V. 109, p. 369):
Cross
Net (after
Other
DeaucBal., Surp.
Year ending—
Earnings.
Taxes). Income,
tions.
for Year.
Dec. 311918
$2,140,355
$262,672
$125
$516,706
def.$253,908
Dec. 31 1917
2,159,349
595.449
193
502.546
93.096
Latest Earnings.—Receivers report for period from Aug. 9 1919 to Dec. 3i
1919 shows gross revenue, $958,148; net, after, taxes, $15,308; deductions,
$222,945; bal., def., $207,637.
Stock.—Pref. stock
was
5% cum. until
ROAD.—Operates from 5th Ave. station in City of Chicago, over tracks
Metropolitan West Side Elev. road, to 52d Ave., Chicago; thence on its
own line to Wheaton, with lines from Wheaton to Elgin, Batavia. Geneva
and Aurora; also from Elgin to Carpentersville, Dundee, St. Charles,
Geneva, Yorkville and Bristol, and a line from Wheaton through West Chi¬
cago to Geneva.
Total single track. 169 miles.
Third rail, standard T.
100 lbs.; track rails, 80 bs.; Interurban and city lines, 60-100-Ib.T and girder
rails; 142 passenger cars; 7 express cars; 6 snow plows and sweepers; 7 misc.
cars; 47 freight cars; total cars, 210.
of
OFFICERS—Pres., L. J. Wolf, Cleveland; V.-P.. M. J. Mandelbaum;
V.-P. and Gen. Mgr. (also Gen. Mgr. for the Receiver); Edwin C. Faber,
Wheaton, 111.; Sec. and Treas., H. C. Lang, Cleveland; Asst. Sec., A. Born;
Asst. Treas., H. J. Manning.
Executive offices. Guardian Bldg., Cleve¬
land, O.—V. 108, p. 2021, 2122, 2329, 2628; V. 109, p. 71, 369. 675, 774,
1271, 1890, 1985, 2355; V. 110, p. 166; V. Ill, p. 492, 790, 1565.
City Operation Approved.—On Nov. 11 1919 the City Council unanimously
approved the Mayor's plan for condemnation of the surface lines and their
operation on a 5-cent basis by or on behalf of the city.
For further details
V. 109, p. 1891.
Valuation.—See V. 110, p. 2291.
see
SURFACE
Under the title of Chicago Surface Lines the properties of the Chicago
Railways Co. and the Chicago City Railway Co. are now being operated
single system under the control of a joint board of operation in accord¬
ance with an agreement between the two companies and the unification
ordinance which became effective Feb. 1 1914.
While under the terms of
this ordinance and the agreement the ownership of the properties remains
entirely separate and distinct, the combined earnings are divided upon an
agreed basis.
For the two years ending Jan. 31 1916 the Chicago Railways
Co.
received
as
its share 59% of the income remaining after the pay¬
ment of all operating expenses, including taxes and maintenance, the other
41% of the income going to the Chicago City Ry. Co., including the
Calumet & South Chicago Ry. and the Southern Street Ry., and, begin¬
ning with Feb. 1 1916 and until the expiration of its franchise in 1927, the
Chicago Railways Co. will receive 60% of the so-called "residue receipts,"
and the Chicago City Ry. (including the Calumet & South Chicago and
the Southern Street Ry.), 40%.
The plan provides for a 5-cent fare
throughout the city on surface lines, also through routing of cars from one
division of the city to another.
See details of the ordinance and the
agreement for unified operations under date of Dec. 1 1913 in V. 98, p.
1693.
An order permitting the State Attorney to file quo warranto pro¬
ceedings to question the legality of unification ordinance was denied in
March 1915.
V. 100. p. 1078.
Statement Showing Shrinkage in Market Value of Securities.—See V. 108,
1822.
Ordinance to
Unite Surface
Chicago Elevated Railways.
and
Cross
Earnings.
1919-20
1918-19
1917-18
1916-17-.
Board
H.
F.
of
Operating
Expenses.
Operation.—Chairman Henry A. Blair, Leonard A. Busby.
Wallace Heckman, Harrison B. Riley, John M. Roach,
Rawson,
Frank O. Wetmore.
Execv.lire Committee.—Chairman, Henry A. Blair;
Leonard A. Busby and
Wallace Heckman.
OFFICERS.—Pres., H. A. Blair;
Sec., F. L. Hupp; Treas., M. B.
Orde; Gen. Aud., Jno. J. Duck.—V. 109, p. 1179. 1461, 1609, 1891, 2171,
2356, 2439; V. 110, p. 464, 658, 764,1415, 2291,2567: V. Ill, p. 73.
CHICAGO CITY & CONNECTING RYS.—A collateral trust.
Ordinance to Unite Surface and Elevated Lines.—See "Chicago Elevated
Rys."
below.
Formed in
1910 under a trust agreement, to
take over the stock of the
Chicago City Ry., together with the securities of the Calumet & South
Chicago Ry.w the Southern Street Railway, the Hammond Whiting & East
Chicago Ry. and the Chicago & Western.
These properties comprise ap¬
proximately 512 miles of street railway in southern division of Chicago
and
vicinity.
See outline of plan In Y. 90, p. 558, 625.
Trustee, Chicago
Title & Trust Co.
April 19 1913 the 111. Supreme Court affirmed the decision of the
Superior Court of Cook County in the suit brought by Clarence H. Venner,
which held valid the agreement dated Jan. I 1910, creating the Chicago
City and Connecting Rys. Collateral Trust (V. 96, p. 1364, 1627).
An
appeal was taken to the U. S. Supreme Court, but In Nov. 1914 suit was
dismissed.
See "Chic. City Ry.'
in V. 99, p. 1527.
On
Outstanding.
Maturity.
150,000 shs.
See text.
250.000 shs.
See text.
1910
5 A-O
$21,246,000
Jan 11927
gold sinking fund c*&r*tf J Int. at 1st Tr.&S.B.Chic., Trus.. or InN. Y.
Participation Certificates.—Preferred participation shares have no par
value but are entitled to preferential cum. divs. aggregating $4.50; also,
after com. partic. shares shall have received $4 in any year, the remaining
surplus, not exceeding in any year $1,000,000. shall be paid ratably, % to
pref. and M to oom., but in no case will the pref. certfs. be entitled to more
than $7 each per annum;
also have preference upon distribution of trust
STOCK AND BONDS—
fund
to
the amount of $100
Interest.
Date.
Com part certs 150,000 sharesPref part certs 250,000 shares
Coll trust mtge $22,000.0001
s-a
-
s-a
Listed on
due on the pref. partic.
each and accumulated dividends.
Chicago Stock Exchange.
In July 1918 the div.
certs, was deferred. Not paid to Oct.
1 1920.
Bonds.—Coupon bonds In denora. of $1,000; registered bonds $1,000 or
A sink, fund of $105,000 of bonds p. a. began Mar. 1 1915.
multiples.
are redeem..for the s. f., or as a whole, at 105 and int. $754,000 re¬
deemed as of Oct,' 1 1920. In case of purchase of property of the Chicago
Bonds
City Ry. by City of Chicago, or termination of trq^t agreement of Jan. 1
1910, then bonds are redeemable at par and accrued int. See V. 90, p. 558,
625.
Bonds are listed on N. Y. and Chicago stock exchanges.
V.94,p.1118
Coll. Tr. Bonds.
a Bonds (par)
None
•10,000,000
Southern Street Ry
*2,400,000
Hammond Whiting & East Chic. Ry— *1,000,000
*1,000,000 1st
Chicago & Western
*72,000
Stocks and Bonds Deposited to Secure the
Stocks (par).
$16,971,900
Chic. City Ry.—
Calumet & South Chicago Ry
—
Total
*
$1,000,000
$30,443,900
-
-
5s
Entire issue.
Under provisions of the trust mortgage these respective issues of bonds
each as an entirety may be converted into capital stock of the respective
companies to an equal amount.
Dividends.—On pref. part. ctfs. $2.25 per share
was paid
seml-an.
from June 1910 to and incl. July 1914.
In 1915, $2 50.
In 1916, $1 75.
In 1917, Jan., $2 25 (V. 104, p. 72); July, $1 50.
In 1918. Jan.. $1 50.
None since: V. 106, p. 2755; V. 108, u. 77.
On common participating ctfs.
SI per share was paid semi-annually from June 1910 to and including
July 1912.
None since.
a
REPORT.—For calendar year
Cal.
Divs.
Yr.
Income
Other.
Cross.
$
$,
$
1919 (V. 110. p. 560);
'Bond
Bond
Other Divs. on Surp.
Interest. Redemp.
Ded. Part.Shs. Inc.
$
$
$
$
$
1919.1,170,635 116,815 1,287,450 1,067,550 105.000 64,133
None.50,767
1918.1,127,595 158,180 1.285,776 1,072,815 105,000 79,798
None 28,163
1917.1,916.831 124,020 2,040,851 1,078,315 105,000 81,346 750,000 26,190
Committee.—Chairman, Harrison B. Riley, S. M.
gan,
Felton, James B. For-
John J. Mitchell, Samuel Insull, John A. Spoor, B. E. Sunny,
A. Busby.
V. 110, p. 167.
Frank
O. Wetmore and L.
&
OFFICERS.—Sec.
V. 108, p.
(1)
W.
W. Crawford; Aud., W.
W. Hill.—
479,1164; V. 109, p. 1079; V. 110, p. 167, 359, 560.
Chicago City Railway.—An electric road.
Unified Operation
details
Treas.,
of
of Surface Lines.—See "Chicago Surface Lines" for
ordinance under which the lines of this company
unification
operated jointly with those of the Chicago Railways Co. as a single sys¬
tem under the control of a joint Board of Operation.
For plan to unite the
surface and elevated lines see "Chicago Elevated Rys."
are
ORGANIZATION.—Incorporated la Feb. 1859. and has extensive sur¬
privileges in the south division of Chicago.
Has a contract ex¬
face road
Cq., for the supply of
The railway has abandoned its producing
piring Jan. 31 1927 with the Commonwealth-Edison
entire power
requirements.
plants but retains its distributing plants.
New Ordinances and Franchises.—On Feb. 4 1907 the City Council passed
LINES.
as a
p.
ending Jan. 31:
Residue
Of Which to—
Receipts. Chic.C.Ry., Chic. Ry:.,
$43,963,438 $33,254,015 $10,709,423 $4,283,769 $6,425,654
34,710,098
25,731.937
-8,978,161
3,591,264
5,386.897
35,114,633
23,101,696
12,012,937
4.805.175
7,207,762
34,789,636
21,743.523
13,046,113
5,218,445
7,827,668
REPORT.—Of entire system for years
Year ending
Jan. 31—
its
CHICAGO
the com
panies put on a straight 6-ceftt cash fare basis.
Effective July 1 1920 the
companies were auth. by the Comm. to charge an 8-cent fare. V. Ill, p. 73
1920.
(2) Aurora Elgin & Chicago RR. 1st & Ref. 5s—Int. due Jan. 1 1919 and
subsequent interest.
(3) 714% collateral trust notes.—Int. due March 1 1919 and subsequent
int.
(In Nov. 1919 the collateral pledged under these notes was sold—see
below under/'Sale of Collateral.")
Int. due April 15 1920 on the A. E. & C. Ry. 1st M. 5s was paid early in
Oct. 1920.
V, 111, p. 1565.
The following committee has called for deposits of the 1st & Ref. 5s and
the 3-year notes.
P*.Committee for 1st & Ref. 5s and Z-Year Coll. Tr. 714% Notes.—Chairman,
R. M, Stinson; Geo. H. Stuart, Lewis B. Williams, W. T. Goodale, A. B.
Conant; Secy., A. E. Pfabler. 319 North American Bldg., Phila., Pa.
Depositaries: Girard Trust Co., Phila.; International Trust Co.. Boston:
Citizens' Savings & Trust Co.. Cleveland, O.
V. 108, p. 971, 2021.
On
July 28 1920 the committee Issued a circular regarding the status of the
company in which it was stated that all but $45,000 of the 1st & Ref, Mtge.
bonds and all of the 3-year notes, except those owned by the War Finance
Corp. (which is co-operating with the committee) had been deposited with
the committee.
V, 111, p. 492.
Stockholders' Committee.—We understand a stockholders' protective com¬
mittee has been formed.
No further information.
Sale of Collateral .—In Nov. 1919 the trustee for the 3-year collateral trust
notes sold the 1st & ref. Mtge. bonds held by it as collateral therefor, and
the above-named committee and the War Finance Corp. each purchased
their proportionate share of this collateral.
All of the bonds so acquired
by the committee have been deposited under the protective agreement thus
In effect consolidating the position of the note and bondholders for purposes
of legal action.
V. Ill, p. 492.
^
m
*
Reorganization Outlook.—See V. 111, p. 492.
111.
the State Public Utilities Comm. to
West¬
V. 91. p.517
ern
{VOL
RAILWAYS
Elevated
Lines.—See
remarks
under
providing for a settlement of the franchise question.
These
were approved at the city election on April 2 1907 and formally
accepted by the company's board of directors on April 15 1907.
Suit to
set aside franchise was dismissed In April 1912.
V. 94, p. 1118.
An ex¬
tended outline of these ordinances, one to the Chicago City Railway Co.,
and covering the lines operated by that company, and the other to the Chi¬
cago Rys. Co., and covering the lines of the former Chicago Union Traction
Co. (now the Chicago Railways Co.). was given in V. 84, p. 1123. The value
of the tangible and intangible property of the Chicago City Ry. at date of
the ordinances was fixed at $21,000,000.
The city or any company au¬
thorized by It Is given the right on Feb. 1 or Aug. 1 of any year, on six
months' notice, to purchase the entire property of the two systems, or either
of them, at their value at date of ordinance, plus "the cost of rehabilitation
and extensions. Including fair allowances for construction,
profit
and
brokerage".
But if the properties are acquired for operation by a pri¬
vate corporation, for Its own profit, the purchase price is to be increased
20%—barring the case of a private company which might be willing to
turn over to the city all profits above 5% on the cost or the investment.
The companies are limited during their operation to an interest return
of 5% upon the agreed value plus the cost of rehabilitation and exten¬
sions.
All net profits above this are to be divided on the basis of 55%
bo the city and 45% to the companies, but a deficit in any year is to be
made good out of the profits of subsequent years.
After April 15 1910 the
companies are required to set aside 6% of the gross receipts for maintenance
and repairs and an additional 8% or the gross receipts to cover renewals
and depreciation.
Whatever portion of the two funds Is not used remains
ordinances
ordinances
Oct..
1920.)
Injflhe funds and
funds
the two
ELECTRIC
passes to the city or its licensee upon purchase.
But If
not sufficient for the
purposes named, the companies
are
obligated to supply additional funds.
are
?ooi<?a«c^SirJ1<?yilootl1
192Ui
* 1^27.
•
The franchises granted by the
On Jan. 29 1912 City Council passed an ordinance
providing for the ac¬
quisition by Chicago City Ry. of city lines of the Chicago & Southern Trac.
V. 94, p. 349, 629.
The latter was sold at foreclosure in Feb. 1912.
The lines outside the city were taken over by the Chic. & Interurban
Ry.
Decision as to Regulation.—See "Chicago Surface Lines."
WRIn Jan. 1920 the company applied to the 111. P. U. Comm. for auth. to
issue"$l ,928,000 5% 1st mtge. bonds to cover expenditures for improvements
V. 110, p. 359.
1
.
stock and bonds—
STOCK AND BONDS—
Stock $1,000,000 ($100)
First mtge, *5,000,000,
Chicago Ry. to 63d St. and Madison Ave., in Chicago.
80-lb. T rail.
I First Trust & Sav. Bk., Chicago, Trustee.
.
,,
1--
--
be Issued
ordinance, in case of
purchase by the city or its licensee, and only in such case, the bonds may be
as a whole, for payment at par and
int., on any int. date before matorttyv- 84. p. 1488,1550.
Bonds are listed on Chicago Stock Exchange
(V. 98, p. 386)•
called
Maturity.
--
'
Standard gauge;
-
•
OFFICERS.—Pres., O. G. Talmadge; V.-P., Chas. L. Lawrence; Sec. &
Treas., F. D. Hoffman; Aud., W. W. Hill.—V. 79, p.
Ip3.
Interest.
Outstanding. LastDiv.,&c.
TextQ-M30 $18,000,000 Sept'20, 1*4
1907
5 g F-A
33,926.000 Feo
1 1927
Notes payable Jan 31 1920
1,950.000
Bonas.—There is no l£mlt to the amount of bonds that
may
under the above mortgage.
Under the Chicago city
Outstanding.
$1,000,000
ROAD.—Owns 34.16 miles of track, extending from State line between
Illinois and Indiana at 108th St., Chicago, to Whiting, East Chicago and
Hammond in Indiana, and operates in connection with Calumet & South
Date.
.Stock, $18,000,000 ($100)
1st mtge ($1,000) g—c*&r*tfj
Interest.
Date.
gold?
1910
5g F-A
1,000.000 Feb
1 1930
($1,000)
-_c&rtf lint, at First Trust & Sav. Bank, Chic..Trust.
Bonds.—Subject to call at 105 and int.
E. K. Boisot Is also trustee.
Purchase price of the property Jan. 31
Co.
27
RAILWAYS
CHICAGO
&
INTERURBAN TRACTION CO.
Change in Management.—See V. 110, p. 197^.
ORGANIZATION.—Incorp. in Illinois Feb. 14 1912 to take over the
property of the Chicago & Southern Trac. Co. (sold at foreclosure) outside
the city limits, the lines within the city having been acquired by Ohlc. City
Ry.
V.94. p. 697.
|
Fares.—In Aug. 1919 was auth. to
V. 109, p. 774.
charge 3 cents
a
mile between Chicago
and Kankakee.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock, $1,000,000 ($100)
$1,000,000
First mtge, gold ($100. $500,( 1912
5 g J-J
1,350.000
Jan 1 1932
$1,000),no sf
c*tf\lnt. at First Tr. & Sav. Bk.. Chic.. Trustee.
-
DIVIDENDS.—In
1893, 24%; 1894-1900, 12%; In 1901, 10*$%; in
1902-09, 9%; in 1910. 16%; in 1911,11*$%; in 1912, 11%; in 1913, 10*$%.
In 1914, 9%; in 1915, 8%; in 1916,
9*4%; in 1917,<8% and 54% extoa in
Dec. In 1918, 5%.
In 1919, 5%.
In 1920, Mar., 1*4%; June, 1*3%;
Sept., 1*3%.
Road, &c. (Incl. Southern St. Ry.).—Company owns 349.82 miles of
single track, all now operated by electricity.
System covers the South Side
of Chicago, extending from the centre of the business district south to 79tb
Street and between the South Branch of the Chicago River and the Lake
REPORT.—For 12 months ending Jan. 31 1920, see V. 110,
p. 1179.
The combined results of the "Chicago Surface Lines" under the Unifica¬
tion Ordinance, which went into effect Feb. 1 1914, were: Gross, $43,963.-
438; operating expenses, $33,254,015:
residue receipts, $10,709,423.
Income Account Chicago
'
City Railway.
1919-20.
1918-19.
Proportion of residue receipts
*$4,283,769 *$3,591,264
Joint acc't exp. int. on cap. inv. and
•
South St. Ry. net earnings.
3,497,206
3,580,614
.
Net earnings
$786,563
443,589
342,974
2,705,676
City's proportion (55%)
Company s proportion (45%)-Interest on capital.x
Income from operation
$10,651
5,858
4,792
2,668,657
-$3,048,651
36,170
Other income
$2,673,450
def.72,047
1917-19.
*$4,805,175
3,661,806
$1,143,369
628,853
514,516
2,623,510
$3,138,026
58,358
Bonds.—The auth. amount of 1st M. bonds is not limited.
subject to call In whole
on
interest day.
any
or
Bonds
are
in part, beginning with lowest number, at
There
are
102
also $378,000 bonds in treasury.
EARNINGS.—For years ending Dec. 31:
Year—
Cross.
1919
Expenses.
$277,252
239,119
$394,012
1918
316.483
Net.
$116,759
77,363
ROAD.—Consists of 50 miles of line between
Int.&Taxes. Surplus.
$93,123
$23,636
92,944 def. 15,580
119th St.
and
VIncennes
Road.
Chicago, to Kankakee. 111.
Standard gauge.
70-lb. T rails.
OFFICERS.—Chairman of Bd., Samuel Insull; Pres., Britton I.
Budd
V -P., F. L. Hupp; Sec. & Treas., W. W. Crawford; Aud.,T. B. Mac Rae.
V. 106, p. 1577; V. 109, p.
CHICAGO
774; V. 110,
p.
1186, 1972.
NORTH SHORE & MILWAUKEE RR.
ORGANIZATION.—Incorp. in 111. and on July 26 1916 acquired the
properties of the Chicago & Milwaukee Electric RR., sold at foreclosure
May 1 1916 (V. 102. p. 1718, 2077).
V. 103, p. 664, 1687.
Franchises.—Owns right of way in Wisconsin as far as the city limits of
Milwaukee; franchise in Milwaukee expires Dec. 31 1934.
Owns right of
way In Illinois outside of corporate limits and to a considerable extent within
corporate limits; tne remainder Is covered by municipal franchises, several
being perpetual.
Valuation.—In Nov. 1917 the Illinois P. U. Comm. determined the fair
value of the eo.'s
Net income—
Interest
on
bonds
Dividends
—
$3,084,821
$1,780,884
(5)900,000
$2,601,404
$3,196,384
$1,755,217
$1,695,000
(5)900,000 (8)1,575,000
physical property in Illinois to be not less than $5,100,000.
original cost of the property in both Illinois and Wisconsin as shown by
was $13,918,862, but the original cost of the lliino's section alone
could not be accurately acertained.
V. 105, p. 1897See also V. Ill,
The
the books
p.
Balance
$403,937
Representing 40% of residue receipts.
x The
"interest on capital investment" is that certified by board of
supervising engineers, as provided by the ordinance of Feb. 11 1907.
OFFICERS.—Chairman Ex. Com., and Pres.
L.
A. Busby;
VlcePres., H. B. Fleming;
Sec.
&
Treas.,
F.
D.
Hoffmann: Aud., John
J. Duck.—V. 108, p. 1164, 1822, 262S; V. 110, p. 359,1179, 1186.
(2)
Calumet & South
operated jointly with those of the Chicago Railways Co. as a sin¬
gle system under the control of a joint board of operation.
Ordinance Embodying Unified Operation of Surface and Elevated Lines.—
See Chicago Elevated Rys. on a subsequent page.
pany are
ORGANIZATION.—Is a consolidation formed In 1908 of the Calumet
Electric Street Ry. and South Chicago City Ry. in accordance with the
terms of ordinance passed by the City Council Mar. 30 1908.
Lines
are located in the south division of the City of Chicago.
The ordinance
15%
1
1927 and provides that the city is to receive
for operating expenses, taxes and de¬
of net receipts after allowing
preciation and 5% on present value, together with amounts expended for
Improvements and extensions.
Unification ordinance of 1914 establishes
o-cent fare and universal transfers.
City may purchase property on
Feb. 1 or Aug. 1 of any year upon six months' notice for present value,
which »s fixed at $5,000,000, plus amounts expended for improvements,
a
additions and extensions, but only for municipal operation, where purchase
1927.
With an addition of 20% in price, city may
Is made prior to Feb. 1
also purchase for the
purpose of turning property over to other parties (if
Ry. only 12% additional need be paid), but
this additional sum need not be paid where these other parties agree to pay
over to the city all of the profits above 5% on the purchase
price.
V. 86i
D. 1223.
On Jan. 31 1920 certified value of property andadditions thereto
was $11,348 822
purchased for Chicago City
STOCK AND
BONDS—\
Date.
Stock. $10,000,000 ($100)--.
First mortgage rehabilitation(
Interest.
Outstanding.
Maturity*
$10,000,000
1908
5 g F-A
'5,393,000 Feb
11927
($1,000) gold, no s fc*&rtf\Int. at First Tr. <fc Sav. Bk.. Chic.. Trustee.
Notes payable. Jan. 31 1920-815,071
Bonds.—The Issue of l9t mtge. bonds is indeterminate, amount to be
limited to amount of new work done on property.
They are subject to
call at any int. date before July 1 1912 at 105 and int.; thereafter only in
case city shall purchase property at par and int. on any int. date.
No s. fd
EARNINGS.—For years
ending Jan. 31:
Other
Total
Bond
Divs.
Balance.
Income.
Income.
Interest.
Paid.
Surplus.
1919-20
$8,757
$569,817
$303,814
$250,000
$16,003
1918-19
547,375
11,438
558,813
292,938
200,000
65,875
*
Representing company's proportion of 40% of Chicago Surface Lines"
'residue receipts pursuant to unification ordinance effective Feb. 1 1914.
Year ending
Jan. 31—
* Int. on
Capital.
$561,060
ROAD.—Owns
cago,
Pullman,
i,nd
operates 125.97 miles of track reaching South Chi¬
West Pullman,
Auburn
Park,
Burnside,
Hegewisch
and
Also extends from Jackson Park to 106th St. and the
State Line along Lake Shore and both sides of Calumet River.
Manhattan Beach.
Indiana
70, 75, 83 and 85-lb. rails.
OFFICERS.—Pres., L. A. Busbj^f V.-P., W7. W. Crawford; Sec. & Treas.,
F. D, Hoffman; Aud., John J. Duck.—V. 100, p. 1831; V. 107, p. 1286.
(S)
Southern
pany are operated jointly with those of the Chicago Railways Co. as a sin¬
gle system under the control of a joint board of operation.
Ordinance Embodying Unified Operation of Surface and Elevated Lines.—
See Chicago Elevated Rys. on subsequent page.
ORGANIZATION.—Incorporated in Illinois as a reorganization of the
Chicago General Ry., which was bid in at foreclsoure sale on Sept. 30 1907
by the Southern Street Railway Co
V. 85, p 863.
Stock outstanding (par $100) $2,400,000.
Bonds issued under 1st mtge.
of 1909 were from time to time canceled and stock issued in exchange.
bonds now out.
No
EARNINGS.—Included In statement of Chicago City Ry.
Ry.
OFFICERS.—Pres., L. A. Busby; V.-P., W. W.Crawford: Sec. <fc Treas.,
F. D, Hoffman; Aud., Jno. J. Duck—V. 91. p. 1631, 1712; V, 107, p. 1288.
Hammond Whiting & East Chicago Railway Co.—A trolley road
All securities are owned by the Chicago City & Connecting Rys.
|
(4)
ORGANIZATION.—Incorporated In Indiana in Jan. 1910 as successor
Hammond Whiting & East Chicago Electric Ry.
Franchise expires In
Power is furnished by the Calumet & South Chicago Rv
Fares.—In Jan. 1919 the P. S. Comm. denied the co. authority to in¬
crease fares from 5 cents to 7 cents.
On Aug. 29 1919, however, following
a strike of the co.'s men, the City Council auth. an increase in fares
to
7 pents, enabling the co. to raise the men's wages.
See under "Chicago
City & Connecting Rys." in V. 109, p. 1079.
Effective July 1 1920 an
8 cent fare with 14 tickets for $1 was put into effect.
1954.
issue of $385,0007% serial notes, dated June
sequent to April 1 1918.
V. 107, p. 694.
In June 1920 the co. issued $1,500,000
secured 7% notes ser, "A" to
serial notes due July 1 1920 and $600,000 secured 6%
Aug. 15 1920 and to partially reimburse the co. for impts.
and addns.
V. Ill, p. 73.
On Sept. 8 1917 the 111. P. U. Comm. auth. the co. to increase the rate
of fare in Illinois to 2 cents per mile.
On Oct. 18 1918 was auth. by the
I.-S. O. Comm. to increase ticket fares from 2 to 2.5 cents per mile.
On
Aug. 19 1920 the W^sc.^R. R. Comm. auth. the co. to increase its fares in
Milwaukee from 5 cents to 6 cents.
V. Ill, p. 1082.
notes ser. "A" due
Date.
Interest.
Outstanding.
Maturity
$100.000
See text
-------$10,000,000 g ($1,-7 1916
5 g J-J
$4,060,000 July 1 1936
000, $500 & $100)----c*tf I Interest payable in N. Y. or Chicago.
Gen'l M $1,500,000 gold
1916
5%
460.000 Aug. 1 1936
STOCK AND BONDS-r
Stock
—
M
First
notes gold ($1,-/ 1917
6 g J-J
110,500 See text
000 and $500)
c*(lnt. at Chicago Northern Tr. Co., Trustee.
Equip notes $500,000 ($500 & J 1919
6 g F-A 1
450.000
See text
$1,000)
c*tf iNorthern Trust Co.. Chicago, Trustee.
Serial
gold
notes
$385.OOOJ 1918
7 g J-D 15
260,000 See text
($100. $500, $l,000).-c*tfICont. & Comm. Tr. & Sav. Bk., Chic., Trus.
Secured sk. fd-notes Ser. "A" i 1920
7 g J-D
1,500,000 June! 1930
see
text
($100. '$500
&(Central Trust Co. of 111., Chicago, Trustee.
$1,000)
c*tf (
Stock.—-The"capital stock is in the nominal sum of $100,000, which has
been made the basis of the following participation certificates of no par
value: (a) 50,000 Illinois part, certfs., bearing $5 dividends a year, cumu¬
lative, if earned, from Jan. 1 1918, the div. on these certfs. having priority;
(6) 58,000 Wisconsin part, certfs., bearing $5 divs. a year, cumulative, if
earned, from Jan. 1 1918: (c) 62,000 common part, certfs., bearing such
dividends as may be earned and declared.
The stock will be held by George
M. Reynolds. Samuel Insull and R. Floyd Clinch as voting trustees.
For
basis of exchange of bonds of old co. for certificates, see V. 103, p. 664.
Bonds.—The 1st M. bonds are secured by a first lien otl all the property
Equipment
-
-
owned and by
pledge as additional security of the entire capital stock of the
Electric Ry. of Wisconsin, which owns the ter¬
in
Milwaukee.
Are
pledged
as
security
for the
7% secured note Issues, remaining bonds may be issued at par for not
exceeding 85% of the cash cost of betterments, &c. The mortgage pro¬
vides for a maintenance, replacement & depreciation fund of 12% of annual
gross income for first five years, 14% for second 5 years, 16% for third
5 years and 18% for the last 5 years, to be expended for maintenance,
&c., or for retirement of 1st mortgage bonds.
The 1st mortgage bonds
are callable as a whole or
part on any interest date at 105 and inter&st.
Continental & Commercial Trust & Savings Bank, Chicago, is trus¬
tee.
V. 103, p. 1031. $240,000 Gen. M. bonds have been canceled and
$480,000 are in treasury.
The equip, notes of 1917 mature $8,500 s.-a.
July 1 1917 to Jan. 1 1927; secured by 15 steel passenger cars costing $200.000.
Redeemable all or in part at 100*$ ana int. on any int. date on 30
day's notice.
The equip, notes of 1919 mature $25,000 each Feb. 1 and
Aug. 1 to Aug. 1 1929.
Red. all or in part at any time on 30 days notice,
at 101 and int. for all notes having over 5 years to run, and at 100*4 and
int. for notes having less than 5 years to run.
Secured by equip, at the
rate of $100 of equip, for not in excess of $70 of notes Issued.
Int. in New
Chicago
&
Milwaukee
facilities
minal
.
Y"ork
Chicago.
or
serial
V. 109, p. 887.
notes
of
1918
are
.
due
June 15
.
1921 and are secured by
1st mortgage 5% bonds.
$125,000 (unsecured) notes of this
issue were retired June 15 1919.
Red., all or in part, at 100 and interest
on 30 days'
notice.
Int. payable in N. Y. or Chicago.
V. 107, p. 694.
The secured 7% notes Ser. "A" are to be secured by 1st M. 5s in the ratio
of not less than $142,857 par value, or 1st M. 6s in the ratio of not less than
$127,033 par value of bonds for each $100 of notes outstanding.
Auth¬
orized Issue limited by restrictions of the trust deed.
A sinking fund of
2% of the notes of .each series outstanding payable semi-ann. is provided
for, to be used in the purchase and cancellation of the pro-rata amount of
notes of each series at a price not to exceed the redemption price.
Are
$370,000
Unified Operation of Surface Lines.—See "Chicago Surface Lines" for
details of Unification Ordinance of 1914, under which the lines of this com¬
to
an
retire $360,000 6%
The
Street Railway Co.—A trolley road.
ROAD.—Included in Chicago City
*18 brought out
15 1918, to retire $180,000 6% serial notes which matured July 1 1918
and to reimburse the co. for capital expenditures made or to be made sub¬
,
Chicago Ry.—Electric
Unified Operation of Surface Lines.—See "Chicago Surface Lines" for
details of Unification Ordinance of 1914, under which the lines of this com¬
grants franchises until Feb.
73.
In Aug.
def.$53,813 def.$73.615
*
red. all
or
or
in part at 101
Chicago.
V. Ill,
p.
and int. on 30 days notice.
73.
Int. payable in N. Y
»
EARNINGS.—Year end. Dec. 31 1919 (inch Chicago &
Milwaukee Elea-
Ry .-Milwaukee City Lines), gross, $3,237,921; net, after taxes. $773,235
charges, $341,396; balance, $431,839.
In 1918, gross, $2,899,9751
net, after taxes, $867,585; fixed charges, $332,505; balance, $535.080.,
fixed
ROAD, &c.—Owns ana operates the electric railroad connecting Evans111., and Milwaukee, Wis., with a branch line extending from Lake
Bluff, 111., to Area, 111., embracing 84.54 miles of road and 169.57 miles
single track equivalent.
The principal communities served are Evanston,
Wilmette, Winnetka, Glencoe, Highland Park. Lake Forest. North Chi¬
cago. Waukegan and Zion City, 111., and Kenosha, Racine and Milwaukee,
Wis.; also Fort Sheridan and Great Lakes Naval Training Station.
165
motor, combination, buffet, trailer, baggage and express cars, and 139
freight cars. 13 service cars, 43 misc. cars. 4 electric locomotives and 1 work
ton,
motor.
Insull; Pres., Britton I.
W.
V.
Griffin.R.
Floyd
Clinch:
Sec.-Treas..
V. Ill, p. 73, 790, 1082, 1471.
OFFICERS.—Chairman of the Board. Samuel
Budd:
V.-P.,
V. 110. p. 969;
ELECTRIC
28
RAILWAYS CO.
■
Unified, Operation of Surface Lines.—See "Chicago Surface Lines' for
Ordinance of 1914. under which the lines of this
CHICAOO
„
_
details of Unification
are operated jointly with those of the Chicago City Ey. as a
single system under the control of a joint board of operation.
As to plan
unification of surface and elevated lines, see "Chicago Elevated Rya."
company
for
Unified Operation of Surface and Elevated Lines.—
Chicago Elevated Rys. on a subsequent page.
Ordinance Embodying
See
ORGANIZATION.—Incorp. In Illinois In Oct. 1903 and on Jan. 25 1908
acquired at foreclosure sale the propertyof the old Chicago Union Traction,
comprising the lines of the North and West Chicago Street RR,
The pur¬
chase was made under a modified plan of reorganization and readjustment
dated Oct. 15 1907 and outlined in V. 85, p. 1269; see also p. 1576.
In Dec. 1912 purchased 6 miles of the Suburban RR. Inside the city limits
(V. 95, p. 1402) and issued $22,554 bonds to cover cost..
Franchises.—On Feb. 51907 the City Council passed ordinances providing
a settlement of the relations between the city and the street railway
for
companies.
V. 84.
338,390.
p.
The franchises granted by the ordinance
expire Feb. 11 1927 and were approved at the popular election held April 2
1907,
On Oct. 10 1910 supplemental ordinance was passed expiring Feb
1927, covering lines of Chicago Consol, Trac. properties.
V. 91, p. 1025
in the remarks concerning the Chicago City Ry. on a preceding page of this
a brief summary of the main terms, requirements
and conditions of these ordinances.
A very extended outline or the same
publication will be found
was
printed In the "Chronicle" of May 11 1907, pages 1123,1124 and 1125.
to which the reader is referred for detailed Information.
The ordinance for the Chicago Rys. Co. provides that the valuation of the
properties acquired shall be deemed and considered to be $29,000,000 (the
value fixed by a board of expert engineers acting for the city) plus $1,779.875
for expenditures from the date of the valuation on June 30 1906 to Feb. 1
1907. making total valuation of properties as recognized by ordinance
$30,779,875 as of Feb. 1 1907.
With the expenditures already made, the
valuation of road, equipment and franchises on Aug. 31 1920 was com¬
puted at $91,789,961.
All expenditures for reconstruction and extensions are being made under
the direct
supervision of a board of supervising engineers headed by Mr.
Blon J. Arnold, and the company is required, under conservative restric¬
tions, to advance moneys for the construction of subways by the city.
The expenditures for reconstruction and extensions. Including any contri¬
butions for subways, after Feb. 1 1907 are to be added to the value of the
properties recognized by the ordinance, together with 5% of such expendi¬
tures for brokerage.
As compensation for its services in construction
the company will receive an additional 15% of all expenditures for recoitstruction and extensions, exclusive of amounts contributed for subways.
The company agreed to lower and reconstruct the tunnels under the
Chicago feivor at Washington. La Salle and Van Buren streets.
Right to Purchase by City.-—Under the terms of the franchise, the company
agreed to waive all rights under previous grants, and gave the city an
option to purchase all of Its property for municipal operation at any time
Dividends on participation certificates Ser. 2 are limited to $4 on each cer¬
tificate so long as more than 50% of Series O bonds remain outstanding,
and thereafter to $5 per certificate until the remainder of Series C bonds
have been redeemed.
Series 2, however, is entitled to unpaid accumulation
00 account of its $8 per certificate (beginning with the year ending Aug. 1
1908), but only when earned, and after payment of all accumulations of
■inking fund and of dividends on Series 1.
.■
Bonds.—First mtge. bonds are Issued only to provide funds for rehabili¬
tation, extensions, &c.
They may be redeemed at par and accrued interest
on any Interest day.
The bonds have a first lien on the entire property,
rights and franchisee of the company.
The authorized issue is limited to
the aggregate of the amounts approved from time to time by the board of
supervising engineers.
$1,459,000 are held in treasury and $2,812,000
are pledged as collateral for
bank loans. See full particulars of bonds,,
property, &c.. in V. 86. p. 545; V. 88. p. 1436; 1619; V. 90. o. 302; V. 93,
p. 162.
Bonds are listed on N. Y. Stock Exch.
V. 103. p. 238.
The consolidated mortgage bonds consist of the following. Series A,
Issued, $17,403,800, of which $1,006,000 are In the treasury and can be
issued only for acquisition of additional property; Series B, $17,164,475, and Series O, $636,338.
Series C bonds have sinking fund of $250,000 per annum, if earned, which began Aug. 1 1908. but cumulative until
paid.
$1,196,000 Sales A bonds have been retired.
See particulars,
v. 80, p. 1223; V. 93, p. 1724. Of the remaining Series B. bonds. $228,000 are
in treasury.
$3,363,684 Series O bonds have been retired by sinking fund
and cancellation.
Bonds of three series bore interest at 4% until Feb. 1
1912; thereafter 5%.
■
Purchase Money Mtge. bonds bore Int. at 4% per ann. during first o yrs.
now 5% per ann.
They are red. at par and int. on any int. date.
valuation
of
the
properties
February
i
1907. as
above
mentioned
plus all expenditures after that date for reconstruction, extensions and addi
tions to the
properties, including any amounts advanced to the city for
the construction of subways in the downtown business district.
In case
the property shall not be purchased, as above stated, prior to 1927.the
expiration of the franchise, the city covenants that It will not then grant
a franchise to any other corporation for the
operation of a competing system
In the company's territory unless such other corporation shall purchase
-
at par and Int. on any int.date
If earned and is not cumulative.
Payments or
Adjustment Income Mtge. bonds are red
interest
Is payable only
4% each were made on May 1 in 1913 to 1918. inclusive.
No action
on May 1 1919 and 1920 interest.
V. 108, p. 1390; V. 110, p. 1642.
both
on
of $4 was paid Nov. 15 1908 on
On Sept. 1 1909 $8 was paid on Series 1
In Feb. 1913, $6;
May. $6; July, $5; Aug., $4.
In 1914, Feb.. $4, Aug.. $8, being full pay¬
ment of all arrears.
Feb. 1915 div. of $4wfts paid June 5 (V. 100, p. 1671).
The Aug. 1915 div. of $4 was paid Sepf. 1 1915.
In 1916, Aug., $8.
In
1917, Aug., $8.
None since.
In Feb. 1914 initial div. of $2 per share
was paid on Series 2.
In 1915, June $2. In Feb. 1917, $2.
None since.
of the
128 miles
ROAD.—Comprises 583.72 miles or track (including
Consolidated Traction Lines).
EQUIPMENT.—Operates 1,885 double-truck "P-A-Y-E" pass. cars.
1920 will be found
combined results of the "Chicago Surface
1920 were: Gross, $43,963,438; operating
$33,254,015; residue receipts, $10,709,423.
REPORT.—The annual report for year ending Jan. .31
V.
in
110,
1742,
p.
The
Lines" for the year end. Jan. 31
expenses,
Income Account
Share
for Years ending Jan. 31.
Of which to——
Balance,
Int., 5%.
* Adjust-
of
Inv.
Divisible. City ,55% . Co. 4o%.
T9-'20-$6,425:654 Dr.$56,371 $4,541,539 $1,827,744 $1,005,259
$822,485
18-T9. 5.386.897 Dr. 198.831 4,501,961
686,105
, 377,358
308.747
17-T8. 7,207,762 Dr. 368,206 4,418,136 2,421.421
1,331.782 1,089,639
Res.
*•
Rects.
merits.
Applicable to previous
on
"
years.
Income Statement (Non-Partnership Account) for
1919.'
1920.
^
.
Years aiding Jan. 31,
1918.
1917.
$822,485
4,541,539
119,080
$308,747
4,501.960
109,924
$1,089,639
4,418,136
146,585
$1,447,740
4,319.783
-i
$5,483,104
$4,920,632
$5,654,360
$5,958,369
Deduct—
Total interest on bonds.
Interest on loans.
Sk. fd. reserve accrued.-
$4,744,888
115,839
$4,760,647
$4,765,584
$4,746,786
236:556.
250"666
42,000
19,475
250,000
42,000
147,916
222,528
60,000
168,800
30,000
153,568
$182,461 def.$374,017
$409,976
$778,015
(with
Miscellaneous interest.
to municipal operation). at any time during the
when $6 was paid.
former Chicago
Chicago Railways, 45%.
5% on investment.
as
dividend
initial
DIVIDEND.—An
Series 1 participation certificates.
certificates.
None to Oct. 1912,
property or the company at said price. The city also has the option
of requiring the
company to sell its property to any other licensee corpora
tion of the city, or or purchasing the property itself for municipal ownership
requirement
taken
purchase-money mortgage and adjustment income
mortgages payable at company's office or at agency of company in Chicago.
Interest
the
no
„
,
grior toordinance. The price to 20-year franchisecity to be the company
the expiration of the be paid by the granted $30,779,875
y the
the
[Vol. 111.
RAILWAYS
_
190,846
life of the franchise; but In case of such purchase by the city or a licensee,
the
but
price to be paid shall be 20% more than the price above mentioned;
the licensee shall not be
required to pay the additional 20% if It shall
the city all profits In excess of 5% on the Investment
(1) the purchase price must bo paid in cash and the first
mortgage bonds of the company will attach to such cash as a first lien In
the event of such purchase; or (2) such purchase (if made within said 20
vears), must be consummated expressly subject to the lien of the 1st mtge
bonds, but If made at the expiration of said 20 years, the amount thereof
must also be paid in cash.
agree to pay over to
In any event.
Compensation to City.—Provision Is made for special compensation
the City of Chicago, but this compensation Is payable only out of
the surplus earnings of the company after paying or providing for all op¬
erating expenses, including the charges for maintenance and depreciation
prescribed in the ordinance and 5% upon the valuation of the company's
property at which It may be purchased by the city for municipal operation.
as above stated.
Of the surplus earnings so remaining, Jhe City of Chicago
receives 55% and the company 45%.
(See V. 99. p. 1831 for dispute with
dty as to certain accounts).
to
Control by .Trustees.—The trust Indenture securing the
participation
certificates
provides that until Aug. 1 1912 and to the full extent thereafter
Which may be permitted by law until all of the consolidated mortgage bonds
of the company shall be fully paid and discharged, the directors of the
company shall be elected by trustees, now consisting of Messrs. Harrison
B. Riley, William G. Niblack, Abel Davis, Frank G. Gardner and Henry
J. Tansley, and provision is made in the trust deed securing the 1st M.
bonds for the appointment of a permanent finance committee, now com¬
posed of Messrs. Henry A. Blair, Seymour Morris and B. A, Eckhart of
Chicago.
Acquisition of Chicago Consolidated Traction Properties.—On Dec. 27 1910
Judge Grosscup confirmed the sale of the Chic. Consol. Trac. Co. and Its
eight underlying companies on Nov. 30 1910 to Andrew Cooke and the
■ale by the latter of all properties within the city limits to the Chicago Rail
ways Co. (V. 91, p. 945, 1253. 1511), pursuant to an ordinance passed
Oct. 10 1910 (placing valuation at $4,021,982), like in tenor, amendatory
and supplemental to ordinance of Feb. 11 1907 (V. 91, p. 1025. 1159)
See reorganization plan, V. 90. p. 1613; V. 91, p. 37.
The lines outside the
city were acquired by the County Traction Co. (now the Chicago & West
Towns Ry.), which has no connection with the
Chicago Railways Co
On Nov. 1 1910 a deposit agreement was entered Into by the holders of the
securities ol the Chicago Consolidated Traction and Its subsidiaries,
pro¬
viding for the exchange of the said securities for Chicago Rys. Co. Purchase
Money 4% to 5% bonds and Adjustment Income 4% bonds, both dated
Jan. 11911 and maturing Feb. 1 1927.
For description of bonds and terms
of exchange, see V. 91, p. 1384, and
compare V. 90, p. 1613; V. 91. p. 214.
Favorable Decision.—In Oct. 1912 the U. S. Circuit Court of
Appeals
affirmed the decision of Judge Kohlsaat, dismissing the suit brought to have
the compromise franchise
of 1907 annulled.
V. 95, p. 1206.
Settlement of Yerkes Suit.—In April 1914 the
company arranged a settle¬
ment of the suit brought by the Yerkes estate on the
guaranty of the bonds
of the Chic. Consol. Trac. Co. by the Union Trac. Co.
V. 98. p. 1155.
Decision
as
to
Regulation.—See "Chicago Surface Lines."
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
--——
-
„
_
-
,
.
Bonds
,
\
•
Consol mtge,
,.
or at Harris, Forbes & Co.. New York.
gold..———=tf 1907
~ .5%
See text. Feb
1 1927
Covering City Lines of Former Chicago Consol. Traction.
Purch-money M $6,000,000 g/
1910
5 J-J
4,073,000 Feb
1 1927
($500 and $1,000)
c*tf (Illinois Tr. & Sav. Bank. Chic., Trustee.
Adjust inc M $2,500,000 gold) 1910
4_g May
2.500.000 Feb
11927
($100&$500) (non-cum)c* tf I
Central Trust Co. of 111., Chicago. Trustee
Stock.—1The capital stock of the company, which Is Issued in the nominal
amount of $100,000, has been made the subject of a trust agreement, dated
Aug. 1 1907 and executed Jan. 25 1908, by and between the Chicago Rail¬
ways Co. and Messrs. Adoiphus O. Bartlett, Chauncey Keep, Charles H
Hulburd, Albert A. Sprague and Charles G.Dawes,
as depositaries, and
Central
Trust
Co.
of
New
York
as
custodian.
Under
this
agreement
the stock serves as a basis for the issue of the participation certificates,
representing In all 265,100 equal parts.
Series 1 consists of 30,800 parts.
Series 2 of 124,300 parts. Series 3 of 60,000 parts and Series 4 of 50.000 parts.
Series 1, 2 and 3 are entitled. In the order of priority named, to cumulative
dividends of $8 for each part, beginning with year ending Aug. 11908. and in
the distribution of capital to $100 for each said part.
Series 4 is entitled
to any remain tag profits or capital distributed.
V. 85, p. 1269.
-
Fed. inc. tax
Corp.
exp.
on
250,000
int. coup
& adjust'ts..
Net inc. for int., &c_.
Blair;
Hupp;
V. 110,
OFFICERS.—Chairman of Board of Directors and Pres., Henry A.
Vice-Presidents, Seymour Morris and J. E. Wilkie: Sec., F, L.
Treas., M. B. Orde.—V. 108. p. 77.1382,1390.1506; V. 109, p. 172;
p.
658, 1642, 1742; V. Ill, p. 389.
WEST TOWNS RAILWAY CO.
ORGANIZATION.—Incorp. in Illinois in 1913 as a consolidation of the
CHICAGO &
,
County Traction Co. and the Suburban RR.
Serves the communities of
Oak Park, River Forest, Maywood, Cicero, Berwyn, Forest Park, Lyons,
Riverside, Brookfield, La Grange and others, having an estimated popula¬
tion of over 135,000.
Franchises contain no burdensome restrictions and
extend beyond 1920.
About 10.5 miles of track on private right-of-way.
U. Comm. to in¬
through the west¬
Fares.—In Aug
1920 the co. was auth. by the 111. P.
fares from 8 cents to 10 cents on its lines operating
crease
ern
suburb:.
V.
Ill,
p.
588.
First
1,000,000
6%
----------
950,000 Sept 1 1922
8 M-S
$1,000,000) 1918
mortgage
Maturity.
Outstanding.
Interest.
Date.
STOCK AND BONDS—
Common, $1,000,000 ($100)Pref (cum), $1,000,000 ($100)
($500 and $1,000) gold--c* (Harris Trust & Sav. Bank. Chicago, trustee.
Remaining bonds may be issued for 75% of exts. and enlargements
with certain restrictions.
This issue originally matured Sept. 1 1920 and
7% int. but was extended
of any month at 101 and int.
bore
Callable on the 1st day
for 2 years at 8%.
EARNINGS.—For years ending Dec. 31:
i9iLv:;;:;::;:Road.—Owns 72.13
50.488
miles of track, of which about 5
operation by Chicago Rys. Co., and operates an
long-term lease.
*
„
Int., Ac.
$59,886
Gross.
Net after Taxes.
$792,221
$165,416
594.773
118,820
Calendar Years—
1919
-
Bal.,Surp.
$105,530
68.332
miles leased for
additional 0.95 mile under
& Treas., Charles N.
1381; V. Ill, p. 588.
OFFICERS.—Pres.. Willard M. McEwen; Sec.
Heb.ier.—V. 106, p. 1230; V. 107, p.
EVANSTON
RAILWAY CO.
ORGANIZATION.—Incorp. Sept. 20 1913 In Illinois to take over the
formerly owned by the County Traction Co. (now the
Chicago & West Towns Ry.)
tines in Evanston. 111.,
granted a new 20-year franchise.
1920 the 111. P. U. Comm. auth, an increase in
cash, with 5 tickets for 30 cents. V. 111, p. 792.
Franchise.—The company was
Fare Increase.—In Aug.
fares from 6 cents to 7 cents
Stock, $100,000
See text.
See text.
First mortgage (see text),
f 1907
-1
5 F-A '
$59,926,000 Feb 1 1927
($1,000)
gold
c&rtf (Int. at Harris Trust & Sav. Bk., Chic., Trus
_
Gross income.
Outstanding.
Maturity
$500,000
288,300
1933
Redeem at 103 and int
(Int. at Merch. Loan & Tr. Co..Chic., Trus.
General mortgage bonds
—,
124,030
Bonds.—Sinking fund of 2% of outstanding bonds began 1917.
I
STOCK AND BONDS—
$500,000 ($100)
Stock
F^t m^e bon^.
Date.
Interest.
l
6gF-A
gold-—c*/1913
31:
Exp., Taxes,
EARNINGS.—For years end. Dec.
Year ending
Dec. 31—
1919——
1918
Gross
Earnings.
-—$207,080
171,491
-
ROAD —Length
8H in.
xt
Net
Depr..Ac.
Earns.
$164,723
$42,357
1130,661
40,830
of single track. 10.34 miles.
Inter-
Balance,
est.
Surplus.
$17,868
16,351
$24,489
24,479
85-lb. rail.
Gauge. 4 ft.
•
OFFICERS.—Pres.,
Clement O. Smith, Milwaukee; V.-P., J.
P.
Pulliam. Milw.; Vice-Pres.. & Gen, Mgr., Charles F. Speed, Evanston;
Sec. and Treas., H. C. Mackay, Milwaukee; Asst. Sec., B. W. Rosenstone,
Chicago; Asst. Treas., Wm. M. Chester. Milwaukee.—V. Ill, p. 792.
i
RAILWAYS.—A
Massachusetts Electric Companies.
CHICAGO
similar
to
ELEVATED
voluntary
association
Unification of Surface and Elevated Lines and Construction of Subways, Ac.
Aug. 14 1918 the City Council passed a proposed ordinance for the
unification of surface and elevated lines and for the construction of subOn
ELECTRIC
OCT., J 920.]
referendum vote of the people on Nov. 5
this ordinance
Railways Co.,
Chicago City Railway Co., Calumet & South Chicago Ry. Co., Southern
Street Railway Co., Metropolitan West Side Elevated RR. Co., North¬
western Elevated RR. Co., South Side Elevated RR. Co. and the Union
Consolidated
Elevated
Railway Co.
The ordinance provided for a
north and south subway system, an east and west subway system and
vast improvements and extensions of surface and elevated lines; $70,943,020 was the city purchase price set for the elevated roads as of June
30 1916 with additions to or deductions from capital account to date of
effective date of ordinance.
After the referendum rejection of the ordinance
the local Transportation Committee of the Chicago City Council took up.
which
ways,
was
submitted to
question of revising the ordinance and recommended a lease of the
traction properties.
V. 108. p. 1274.
Supreme Court upheld the right of the State
regulate street car service in Chicago regardless
of the provisions of the contract ordinances of 1907, between the Chicago
City Council and the surface lines.
,
I
At midnight Nov. 2 1913 began through-routing north and south elevated
trains, using the Loop for that purpose, and established free transfer sta¬
tions between said trains and trains of Metropolitan and Oak Park cos.
As the project for uniting under one control the elevated railway and sur
face roads of Chicago was not carried out Iby July 1 1914, the Common¬
wealth Edison Co. purchased from the syndicate which underwrote the
pref. shares approximately 200,000 shares of Chic. El. com. stk. for about
$6,000,000 in accordance with the terms of an agreement said to have been
Apr.
On
1917 the 111.
19
(1) Metropolitan West Side Effev. Ry.—An electric road.
Proposed Ordinance Embodying Unified Operation of Surface and Elevated
Chicago Elevated Railways above.
a
1918 and rejected by them.
V. 107, p. 1836.
For digest of
V. 107, p. 1292.
The roads included were the Chicago
see
the
29
RAILWAYS
Lines.—See
ORGANIZATION.—Organized in Illinois Jan. 16 1899.
Fares.—In Sept. 1918 applied to the 111. P. U. Comm. for auth. to In¬
fares from 5 cents to 7 cents.
The Comm., however, auth. the co.
on
STOCK AND BONDS—
Date.
Interest.
Outstand'g. Maturity,&c.
See text
$7,462,800
8,707,500
See text.
4 g F-A
First mortgage, $10,000,000" 1898
10,000,000 Aug 1 1938
($1,000), gold
c*tf Cent. Trust Co., N. Y., and G. Sherman, Tr.
Int. at Cent. Trust Co., N. Y. and Chicago.
Ext
1901
4 g J-J
mortgage,
$5,000,000
a5,000,000 July 1 1938
Trust
($1,000), gold, red at 105 Northern
Co.,
Chicago,
Trustee.
on
any Interest day on 4 Interest at company's office in Chicago, or
Common, $7,500.000
Pref, 5% non-c, $9,000,000
weeks
Public Utilities Comm. to
entered into in 1911.
Successor
Feb. 3 1899 (per plan in V. 67, p. 126) to the Railroad Co. sold under fore¬
closure on Jan. 4 1899.
Franchise expiree April 7 1942.
notice
c*tf
Central Trust Co., New York.
,
Equipment trust certificates—See under Chicago Elevated Railways, u,
o $567,000 Included in this amount Is held by Chic. Elev. Rys. coil. truiV.
The extension mortgage of 1901 covers the extension as a first Uen.
also 68 cars, a 3,500 h. p. engine and the new down-town terminal; the
bonds also cover the rest of the property as a second lien, subject to the
$10,000,000 first mtge.
V, 72, p. 1080; V. 75, p. 29; V. 86, p. 1160.
Has guaranteed $498,000 bonds of Union Consolidated Elevated.
LATEST EARNINGS.—See joint statement under Chic.
No separate reports now made for the
.
May 1916.
Dividends not
Chicago Elevated Rys,
now
Elev. Rys.
subsidiary companies.
DIVIDENDS.—For dividend record
"Electric Railway" Section for
see
reported as all
the stock is owned by
crease
to
Nov. 22 1918 to Dec. 31 1919.
V.
Effective Aug. 8 1919, however, the Comm. auth. the co.
8 cent fare in Chicago to continue until Feb. 1 1920.
V. 109.
charge only 6 cents, effective from
2008.
107, p.
to charge
an
&g577. Effective Feb. 1 1920 the 111. P.at 7H cents in Chicago. changU. Comm. issued an order Ticket
fares to 8 cents cash, with tickets
Evanston and Chicago was raised to 12 cents.
Effective
1920 was auth. by the P. U. Comm. to increase cash fares from
V. Ill, p. 588. The city
has appealed from this order. V. Ill, p. 895.
fare
between
Aug..
4
8 cents to 10 cents, with tickets at 4 for 35 cents.
ORGANIZATION.—Organized In
1911
to
acquire stocks, bonds and
other securities of the Metropolitan West Side Elev. Ry., Northwestern
Kiev. RR. and the South Side Elev. RR. ($21,202,312 being offered for the
$36,294,900 stock of these companies—see offers in V. 92, p. 1498.
All
have been turned in, a small remnant of Northwest L pref. being
bought in August 1913; V. 97, p. 728); also, if it so elects, the stocks of the
Union Consol. Elev. Ry., Chicago & Oak Park Elev. Ry., Chicago & Oak
Park Elev. RR. and Chicago & Elmhurst Ry.. which companies are con¬
trolled by the afore-mentioned companies.
These roads operate about
196.22 miles of track.
In July 1914 the National City Bank offered the $14,000,000 gold notes
(V. 98, p. 1992), the proceeds of which, together with the sale of $/ ,000,000
10-yr. 0% debentures and $12,500,000 bonds of the Northwestern Elev
RR. were used to retire the $30,000,000 3-yr. notes which matured July 1
1914, and to provide working capital.
ROAD.—From
Default, &c.—The July 1 1919 coupons on the $7,000,000 6% debentures
not paid when due.
V. 109. p. 370.
Anticipating the default (V. 109,
370) made on the $13,626,000 2-yr. 5% secured notes (originally matured
m 1916 but were extended to July 1 1919 at 6%) due July 1 1919, the follow¬
ing protective committee was organized and has called for deposits.
For
statement issued by the committee see V. 108, p. 2527.
a
west of the 52d Ave.
terminal on the Garfield Park line as far as the Des
Plaines River, about 3.3 miles of double track.
V. 79, p. 1704.
OFFICERS.—Chairman of Board, Samuel Insull; Pres., B. I. Budd,
Sec. & Treas., W. V. Griffin; Aud., T. B. MacRae.Gen. Mgr.. E. C.Noe,
Office, 72 West Adams St., Chicago.—V. 107, p. 1004, 1287.
(2) Northwestern Elevated RR.
Ordinance Embodying Unified Operation
Elevated Railways above.
ORGANIZATION,—Incorp. In Illinois.
Road was formally opened
on May 31 1900.
V. 70, p. 1049.
Franchises extend beyond
the maturity of the bonds.
In Sept. 1901 the Union Elevated RR. was acquired.
The Chicago Ele¬
Rys. provided the cash to take up the $18,000,000 Northwestern
Elevated 1st 4s which matured Sept. 1 1911.
On Aug. 21 1911 stockholders authorized $25,000,000 1st M. 5s (V. 93,
p. 527).
None of these bonds sold at the time, but in July 1914 $12,500,000 were sold (V. 98, p. 1920) to a syndicate of bankers and subsequently
disposed of by them.
vated
STOCK AND BONDS—
for
Secured
Gold Notes.—Charles E.| -Mitchell, Chairman.
Y.; George M. Reynolds. Pres. Continental
National City Co., N.
Pres. Com¬
Deposit Na¬
R. Floyd Clinch, of Crerar, Clinch & Co.,
Chicago, with K. W. Berry as Sec.. 55 Wall St., N. Y. City.
Depositaries:
National City Bank, N. Y., and Continental & Commercial Trust & Savings
Bank, Chicago.
V. 108, p. 2527.
Report by Stone & Webster on Physical Condition of System.—V. 109, p.2355.
Valuation to Be Made.—See V. 109, p. 1272.
•
tional
Bank
of Pittsburgh;
.
BONDS—
Common, 250,000 shares
Interest
Date.
STOCK AND
.
Maturity,
Outstanding.
250,000 shs
160,000 shs.
at
102 Sc
Int
on
Interest.
....
M-S
Prefstk, 6% n-c, $15,000,000.
1st M $25,000,090 red as a 7
days'
Commercial National Bank of Chicago; John H. Mason,
mercial Trust Co., Phila.; T. Hartley Given, Pres. Farmers'
Date,
Common stock, $5,600,080...
whole
Committee
I
for business
p.
Pres.
p
of Surface and Elevated Lines.—
See Chicago
were
&
Ave.
westerly about 6H miles,
with branches; total length of road (Including Douglas Park branch and
extension and Garfield Park hranch), 23.83 miles.
Miles of single track,
owned, 46.98; under cojntrsfct, 6.64; total operated. 53,62 miles of track,
exclusive of 7.64 miles of side tracks.
Standard gauge.
Right of way Is
owned in fee.
284 motor cars, 2*3 coaches and 17 miscellaneous.
On March 11 1905 the cars of the Aurora Elgin & Chicago Ry. began
operating over this company's lines to the 5th Ave. terminal under a traffic
agreement, the Met. West Side, in turn, securing the right to the territory
the stocks
Decision.—On Apr. 24 1914 the Supreme Court affirmed the decision of
Jutfge Scanlon of the Circuit Court (V. 97,p. 1425) and dismissed the suit
of State Attorney Hoyne against the Met. West Side, South Side and Union
elevated railroad cos., alleging that they violated their State charter by is¬
suing watered stock. ;'::f
:r
terminal station at 5th
5g M-S
1911
Outstanding.
Maturity,
$4,946,400
4,944,400
*
12,500,000
See text.
Sept. 1 1941
30{IU. Tr. & Sav. Bk., trustee, under mtge.
notice ($ 1.000) _c*tf I Central Tr. Co., N. Y.. trustee und.
sup.
M.
Equipment trust certificates of 1914—See under Chicago Elevated Railways
absolute first lien, subj. only to the Union Elev.
RR. 1st M. 5s; also secured by deposit of $528,000 Union El. 5s.
The re¬
maining $12,500,000 Northwestern bds. may be issued only for cash cost of
oetterments. extensions and add'ns acquired after July 1 1914 under certain
The 1st M. bonds are
an
conditions.
Sinking fund of 1% outstanding bonds payable annually
began Sept. 1 1919.
$391,000 bonds in sinking fund Oct. 15 1920.
Bonds
in sinking fund are held alive.
LATEST
EARNINGS.—See joint statement under Chicago Elev. Rys.
No separate reports now made for the subsidiary companies.
Dividends.—An initial div. of 1% was paid on pref. Oct. 18 1909 and 1%
quar. to April
Dlvs. not now
1911;
none
thereafter to March 1912, when 2%
was
paid.
reported, as entire stock Is owned by Chicago Elevated Rys.
ROAD.—Miles of single track: Owned. 44.98 m.; operated under con¬
tract, 16.51 m.; total, 61.49 m. (of which 9 29 m. side track).
Rightofway
See text.
Q-M
$14,000,000 July 1 1919
Issue) J 1914
6 g J-J
($1,000), $14,000,000
c*lIllinois Trust & Sav. Bank, Chic., trustee.
Debentures $7,000,000 ($100/ 1914
6 g J-J
7,000,000 July 1 1924
and $1,000)
--c*tfUnt. at National City Bank, New York.
Equip tr certfs gold Ser "A") 1914
5 g F-A
1,230,000 See text.
do
do
Ser "B"j
.
44t),000 See text.
guaranteed by endorsem't. tCommercial Tr. Co. of Phila., Trustee.
Notes payable
1,800.000
is all owned in fee except at
Stock.—Com. and pref. shares expressed at par value of $100 each.The
pref. stock is redeemable at $100 and accrued dividends.
Notes—Pending the formation of a concrete plan for the unification of
surface and elevated lines and appropriate municipal action in the matter,
the holders of $13,626,000 of the $14,000,000 5% notes due July 1 1916
consented to extending same to July 1 1919 (see above under "Default, &c.")
at 6% interest, with a cash payment of $15 in respect of each $1,000 of
extended notes (to provide which the trustees borrowed $1,300,000, giving
their note therefor). In addition, the value of the security for the notes was
materially increased and an agreement made with the Commonwealth
Edison Co. whereby all claims for power supplied to the railroad cos. after
June 30 1916 and until maturity of the extended notes will be assigned to a
trustee and will be paid only if and as other floating debt of sub. cos. (except
capital debt) Is not increased. In case other collateral securities pledged for
the extended notes shall upon sale prove insufficient to pay such extended
notes in full, the said power claims then unpaid will be placed on a parity
with the extended notes.
V. 102, p. 2341; V. 103, p. 578.
The notes are
now secured by pledge of substantially all of the stock of the Northwestern
Elev. Ry., the Met. West Side Elev. Ry. and the South Side Elev. RR.,
having a total par value of $36,292,500, and notes and claims against those
companies aggregating $1,070,000.
Red. at par and int. on any int. date
on 30 days' notice.
Int. payable in N. Y. or Chicago.
Int. at rate of 5%
was paid on the unextended notes to Jan.
1 1919.
Deb. notes are red., all or any part, when drawn by lot on any int. date
at 102J4 on 4 weeks' notice.
V. 99, p. 195.
The equip, trust as above is
joint obligation of the Met. Northwestern and South Side Elev. cos. and jnot
of the Chicago Elev. Rys. The Ser. "A" certifs. are due in s,-a. installments
from Feb. 1 1917 to Aug. 1 1926. $102,000 each Feb. 1 and $103,000 each
p.
Pref, 160,000 shares, 6% cum:
2-yr gold notes (closed
,
They are guar, by end. on each certif. by the Met. West Side El.,
Northwestern El. and the South Side El.
V. 100, p. 53'. $320,000 retired.
Aug. 1.
Series "B" mature $110,00d semi-annually from Feb. 1 1927 to Feb. 1
Dividends.—On pref.. Initial div.—114%—Paid Dec
1 1911.
In
fn 1914. March, ! 54%';
and 1913. 6%
>
June 30
Gross
Interest,
Other
Net
None since
June. 1 '4%
REPORT.—For year ending June 30 1919, in V.
Combined Earnings (Inter-Company Rentals
1929.
1912
109, p. 2167:
Deducted).
Divs.,
Balance,
Earnings. Income. Taxes, &c.
&c.
Sur. or Def.
%
$
'■
s
$
$
$
1918-19
10,587,462 3,747,998 141,464 3,444,935
593.539 def.149,012
1917-18.-- 9,777,164 4,549,187 150,490 3,322,858 1,198,395 sur.178.423
1916-17— 9,289,913 4,465,427 151,589 3,249,996 1,176,345 sur.190,675
Income.
Year—
Calendar
Income Account of Chicago
-Income-
Year—
Dividends.
$1,176,572
1,196,702
1,218,991
1918
1917
1916
OFFICERS.—Pres.
Elevated Rys. Collateral Trust.
Interest.
$195,439
190,981
153,483
Gross
"Income.
$1,372,011
1,387,682
1,372,475
of constituent cos..
Interest
&
Expenses.
$1,371,513
1,362,179
1,248,674
Balance,
Surplus.
$498
25,504
123,801
Britton I. Budd; Sec.,
W.
EXECUTIVE
W.
ana
J.
H.
GOVERNING COMMITTEE.—Samuel
Insull, Chairman; Gilbert E.
Britton I. Budd, J. H. Gulick and W. A. Fox.—V. 109, p. 1461,
:2167, 2172, 2439; V. 110, p. 464, 2567; V. Ill, p. 294, 583, 612, 791, 895.
Elevated Railroad.
Embodying'Unified Operation for Surface and Elevated Lines.—
Union
Ordinance
Is used
above.
•
by all the Chicago elevated roads and is owned by Northwestern
besides all expenses
1945.
Elevated RR.; receives He. for each passenger carried,
for operating, repairs and taxes.
Franchise expires In
Date.
BONDS—
Interest.
5 g A-0
tstM.$5,000.000,g($l,000)cpt 1895
OutStandino.
Maturity.
1 1945
Chicago.
deposited as se¬
$4,472,000 Oct
Interest at Chase Nat. Bank, N. Y., and 111. Trust & Sav. Bank,
Bonds.—Of the $5,000,000 bonds Issued, $528,000 are
curity for the $12,500,000 Northwestern Elev. 5s.
r
1
ROAD.—The loop is 2.12 miles in length, double-tracked (80-lb. rails),
runs on Lake St. to Wabash Ave., to Van Buren St., to Fifth Ave., to
Road opened Oct. 10 1897.
Trains of the Chicago & Oak Park.
and
Lake St.
Metropolitan West Side, Northwestern Elevated RR. and South Side
operate over the loop.
Northwestern Elev. also owns .15 mile of double
track from connection with loop at Van Buren & State streets to connection
with South Side EI. RR., which is leased to the latter.
V. 107. p. 1288.
(3)
South Side Elev. RR.—P* Alley Elevated").—An electric elevated
**oarj
ORGANIZATION.—Successor January
1897 to Chicago & South Side
V.03.p. 1158L
July 31 1900 the Appellate
of the foreclosure (V. 71. p. 236). and on Feb.
21 1902 that decision was concurred in by the State Supreme Court.
V. 74.
p
477
Franchise expires March 20 1938.
Leases the Chicago Junction
RR., which see below.
T. RR. (foreclosed per plan
R
Court sustained the validity
STOCK AND BONDS—
Date.
First
mortgage.
.
Interest.
Q-M
Stock. $10.231,400
$8,000,000,} 1904
4HgJ-J
Outstanding.
$10,231,400
Maturity.
8.000,000 July 1 1924
guid ($l,000)-__
c*tf/Int. at 111. Tr. <fc Sav. Bank, Chic., Trustee.
Equipment trust certfs.—See under Chicago Elevated Rys.
Bonds.-— Are subject to call at 105 and interest.
Dividends.—See "Electric Railway" Section for May 1910.
Dividends
not now made public, as entire stock Is owned by Chicago Elevated, Rys.
REPORT.—See joint statement under Chicago Elev. Rys.
reports now made for
No separate
subsidiary cos.
ROAD.—Owns elevated road In operation In Chicago upon a purchased
right-of-way from Congress St. to Jackson Park and to Englewood. Elec¬
tricity was introduced as motive power late in April 1898.
Operates 430
motor cars, 52 coaches and 14 misc. cars.
On 16.15 miles of structure has
a total of 36.05 miles of single track main line incl. 6.30 m. leased.
Also
has 9.99 miles of side-track, making total track 46.04 miles.
OFFICERS.—Same as for Metrop. West Side Elev. Ry.—V. 93, p. 528;
i
V.
1
105, p. 2273; V. 107, p. 1005.
Chicago Junction
RR.
ORGANIZATION.—Organized In the Interest of the South Side Elevated
that company's track with the Stock Yards.
a nominal amount of stock has been issued ($50,000), which is held In
trust for the South Side Elevated in case that company should at any time
wish to absorb it.
Is leased to the South Side Elevated for 50 years (with
right to purchase at cost within 20 years), rental being interest on bonds,
taxes. &c.
Franchises are without limit.
RR. to build lines to connect
A. Fox
Gulick.
Porter,
(a)
100,
See Chicago Elevated Railways
(a)
Beale and Samuel Insull.
COMMITTEE.—Samuel Insull,
as for Metropolitan West Side Elev. Ry.—V
230, 399, 1079, 1350; V. 105, p. 2273; V. 107, p. 1004, 1288.
OFFICERS.—Same
V
Griffin; Comp., Edward A. Brion.
TRUSTEES.—William G.
street crossings.
Under an operating agreement with the Chicago Milwaukee & St. Pau
Railway Co. made in 1907, this company's service was extended May 16
1908 to Evanston over the Evanston Division of the former road.
Ser¬
vice on new track elevation to -liminate grade crossings was commenced
Jan. 6 1916 on this division.
Extension to ^ilmette opened April 1912.
All track oper. (incl. loop), 66.21 miles.
80-lb. T. rails.
230 motor cars,
202 coaches and 4 miscellaneous cars.
Only
ELECTRIC RAILWAYS
30
STOCK AND BONDS—
Date., Interest,
Outstanding.
Increased fares in Addyston, Cleves and North Bend.
V. Ill, p. 73.
Fares.—Effective July 9 1920 theco. was auth. by the Ind. P. S. Comm. to
increase its city fare from 5 cts. to 7 cts. and to sell tickets for 50 cts.
Auth.
was also granted to increase fa.es from Lawrenceburg to Aurora from 10
Maturity.
See text.
.
J2.327.000. gold 1 1905
4 g M-S
12.327,000 Mch. 1 1948
($1,000). guar p A I—__c*i First Trust & Sav, Bank. Chicago, Trustee.
Bonds.—Are subject to call at 105 and int.
In event of consolidation with
South Side Kiev., this Issue Of bonds is to be retired.
V. 80, p. 871.
Bonds
are guar., p. A1.. by Chic. June. Rys, A Un. Stk. Yds. Co. See V. 82, p. 568.
ROAD.—Consists of an elevated road (from Junction with South Side
"L" at 40th Street) to the Stock Yards, and a loop around the same, 3.75
miles.
Was completed in May 1908.
Stock
lit
-
-
.
——
[VOL. 110.
-
mtge,
cents to 12 cents.
V. Ill, p. 294..
The $750,0001st mtge. 5s due July 1 1919 had not been paid up to
the
near
future although no
plan has
BONDS—
STOCK AND
Common, $750,000
OFFICERS.—Pres., A. E. Rawson: V.-P., H. E. Poronto: Sec.. Thornhill Broome; Treas. & Asst. Sec., J. W. Austin; Aud., C. C. Chace.—V.
87. p. 346.
\
as
yet been formulated.
Interest.
Date.
$750,000
58,900
Q-J
J
44,130
STOCK.—Pref. stock was Issued for money
No interest has been paid.
ceiver was authorized to issue
$2,000,000 receiver's certificates for improve¬
1919
1785.
In Jan. 1912 Francis V. Dobbins of Rahway.
appointed receiver for the Railway Co.
V. 94. p. 123.
1918
N. J., was
EARNINGS.—For calendar years:
Year—
Gross.
p.
OFFICERS.—Receivers, C.
578; V. 109, p. 1272;V. 110,
p.
Sale of Securities.—On June 20 1912 Geo.
H. Church bid in for $256,000
owned by the Chic. A Oak Park Elev. Ry::
$859,000 Lake St. Elev. RR. 5% inc. bonds; demand notes of Chic. &
Oak Park Elev. RR. variously dated from April 23 1904 to June 15 1910.
aggregating $1,989,528; $5,850 Lake St. Elev. RR. inc. bonds scrip.
At
the following securities formerly
CINCINNATI
and notes, also some $473,000
additional notes of the Railroad Co., and in certificates for 91,651 17-40shares of Chic. A Oak Park Elev. RR.
V. 94, p. 1763.
The Cblc. A Oak Park Elev. Ry. was lncorp. In New Jersey on April 22
1904 to bold the securities of the Chicago A Oak Park Elevated Railroad
ST.OCK AND BONDS—
Interest.
Date.
M, $5,000,000, f
Outstanding.
.
1928
$1,000,000--.*
.
ROAD.—Owns
a
--------
double track elevated railway from Fifth Avenue and
Lake Street to 52d St. and Lake St., with spur down Market St. to Madison
Trains began running around the loop in Oct. 1897.
Chicago &
Fares.—In
St.
Harlem forms
an
extension comprising 4 miles more of double track.
186 passenger cars; 4 miscellaneous cars.
REPORT.—For years ending June 80 for Railroad Co.
Grass.
Net.
Other Inc.
Charges.
Deficit.
—See
Traction Co.
Elevated Lines.
-
was
Lebanon, 33 miles.
Owned - trackage, incl. second, main,
Ac., 52 miles.
Operated trackage, incl. traffic arrangement in
Gauge, 5 ft. 2)4 in.
Cars enter Cincinnati over the
tracks of the Cincinnati Traction Co.
70-lb. and 97-lb. T rail.
Cincinnati. 74 miles/
OFFICERS.—Receiver,
C.
M.
Leslie;
Pres.,
Geo.
H.
WorthingtonI
V.-P., J. M. Hutton; Sec. and Treas., J. F. Egolf.—V. 107, p. 291, 402,
802, 110L
Sec. and
OHIO TRACTION CO.
ORGANIZATION.—Incorporated In Ohio on May 22 1905 and owns
practically the entire capital stock of the Cincinnati Traction Co. and
Cincinnati Car Co., besides an interest in the common and preferred
stock of the Cincinnati Dayton A
Toledo Traction Co.
On July 6
1905 lease of the Cin. A Hamilton Trac. Co. was assigned to this company
by the Cin. Interurban Co. and the latter company placed in liquidation.
This company also acquired the property of tne Traction Building Co..
which went into liquidation.
OHIQ.
Refinancing Plan.—In
Jan.
1920
the Ohio P. U. Comm.
approved
a
modified plan of refinancing already approved by the stockholders which
issue of $2,250,000 7% Ohio Trac. Co. notes, to be re¬
tired in 3 years through a sink, fund; (2) an issue of $2,250,000 Cine. Trac.
Co. 25-yr. 6% debentures.
These were used to reimburse the Ohio Trac.
Co. for moneys advanced the Cincinnati Trac. Co. for impts. and to provide
for the $250,000 reserve fund required by the franchise ordinance.
|2,000,000 of these are held by the trustee as security for the issue of 3-yr. notes.
The proceeds of the sale of the notes were used to pay the city the deficit
of $597,000 in franchise tax due it; to provide for the taking up of an issue
of $233,000 outstanding notes; to pay off $1,075,000 in bank loans and to
pay for impts. already made.
V. 110, p. 77, 562.
The above plan permitted the co. to continue to operate on a 7-cent fare.
Under the terms of the franchise ordinance, fares would automatically
have Increased to 7H cents on Jan. 1 1920 had not this plan been adopted.
V. 110, p. 77.
Compare V. 109, p. 2171. 2356.
On Sept. 1 1920, however,
provided for (1)
again divorced from the other two roads.
Has
supply electric current for municipal distributing systems of
Georgetown and Bethel, Ohio.
Fare Decision.—On Feb. 17 1914 the Ohio Supreme Court sustained the
right of this company and the Interurban Ry. A Terminal Co. to charge
10 cents from Cincinnati to California (Ohio) and Coney Island (Ohio).
both now forming part of Cincinnati
V. 98. p. 610
On Jan. 15 1918 the Intef-State Commerce Comm. auth. an increase of
15% In passenger fares.
i
0
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
fares
raised to
8 cents.
p.
1567.
-
STOCK—
Date.
Interest.
Outstanding.
LastDiv.
Common, $10,000,000 ($100).
Q-J
$8,655,000
See text.
Pref, $10,000,000, 5% cum_—
Q-F
8.500,000
See text.
First mtge. $2,500,000. gold,/ 1911
d g
2,500.000
1936
sinking fund ($1,000)
lint, at Fidelity Trust Co., Phila., Trustee.
Coll trust notes $3,750,0001 1920
7 g J-J
2,250,000 Jan 1 1923
($1,000) g_---___tf/Int.atUnionSav.B.ATr.Co.,Cine..Trustee.
•
title.
OFFICERS.—Pres., A Treas.. Henry A. Haigh; V.-Pres., W. J. Thom¬
son; Sec., A. L. C. Henry; Gen. Mgr., A. H. Elfner.—V. 106, p. 295.
CINCINNATI LAWRENCEBURG & AURORA ELECTRIC STREET
RR.—A trolley road.
Receivership.—The company having suffered damage from the 1913 flood..
Judge Warner at Cincinnati on June 23 1913 appointed F. B. Shutts. of
Florida, receiver on application of Pres. J. C. Hooven, who, it is stated,
loaned the company $125,000.
V. 96, p. 1839.
On Dec. 28 1914 C. E.
Hooven was appointed receiver upon the resignation of F. B. Shutts.
Subsequently Eagar Stark was appointed co-receiver.
ORGANIZATION.—Incorporated in Nov. 1898.
Franchise.—In Dec. 1917 was granted a new 20-year franchise authorizing
the co. to construct a new line within city limits in lieu of a portion of its
existing rout|e, construction to begin within one year from date of acceptance
of franchise ordinance.
The franchise gives the co. the right to carry
passengers, freight, express matter, baggage, packages and U. S. mail and
provides for 5-cent and 10-cent fares with half fare for children.
After 10 J
.
Jears 1920 co. must pay the city $1,500 per annum franchise p. 394. In
the the co. was granted a two years' emergency V. 106, authorizing
une
were
an
Report for Year 1919 by Dept. of Street Railroads.—V. Ill, p. 1279.
Decision Placing All Lines in Cincinnati under Service-at-Cost.—V. Ill,
Stock, $1.500.000
$1,500,000
1st mtge,
$1,000,000. gold/ 1902
5 g J-J
1,000.000 Jan
11932
($1,000)
c*\lnt.at Union Sav. Bk.ATr.,CIn.,Tr.,AInN.Y
Fel A Beth 1st M $100,000.
gj 1905
5 g A-O
100.000 Oct
1 1935
($1,000). not callable. —c*llnt at Union Sav, Bk. A Tr.. Cin., Trustee.
ROAD.—Operates 53.7 miles from Cincinnati southeasterly to Russeivlile, including branches of 3.5 m. to Batavia and 1.5 m. to Coney Island.
The Felicity A Bethel has 8.5 m of track between the points named In its
Maturity.
-
ROAD.—Extends from Cincinnati to New Richmond, 22 miles, and from
ORGANIZATION.—Formerly a narrow-gauge steam road, but now
operated by both electricity and steam.
Under Ohio law remains a steam
road.
Has no franchise limitations and is located on private right-of-way.
In Sept. 1911 entered into a management agreement with the Felicity A
Bethel RR. and the Ohio River A Columbus RR. (a steam road),
V. 93.
p. 796.
On Jan. 1 1914, however, management changed and the Ohio
Columbus
*
Outstanding.
Cincinnati to
CINCINNATI GEORGETOWN & PORTSMOUTH RR.
&
pro¬
sidings,
CINCINNATI & COLUMBUS TRACTION CO.—A trolley road.
Sale, <&c.—On Jan. 31 1920 the road was sold for the account of the bond¬
holders on a joint bid to Joseph Joseph A Bro.. N. Y. City, and the Hyman
Michaels Co., Chicago, price not disclosed.
V. 110, p. 658; V. Ill, p. 1277.
The purchasers it i%reported, are dismantling the property for junk.
For
history of this co. see Electric Railway Section" of Nov. 15 1919.
River
as
Suburban
Bonds.—Only $122,500 of bonds were actually issued, the remainder
being used as collateral
for loans, but on Feb. 7 1916 the Citizens'
A Trust Co., Cleveland, as trustee, sold at foreclosure $1,324,000
of the bonds used as collateral to the holder of a 6% promissory note for
$1,300,000. dated June 12 1912.
Earnings.—For the year ending Dec. 31 1919, gross, $212,653; net, after
taxes, der., $16,053.
In 1918, gross, $224,118; net. aft. taxes, def., $82,384.
unissued.
contracts to
the
Savs
-
OFFICERS.—Pres., Samuel Insull: V.-P.. Gilbert E. Porter;
Treas.. W. V. Griffin.—V. 99, p. 199; V. 107, p. 1288.
Interest.
Date.
—
expires Oct. 7 1945.
On July 7 1914 Judge Windes in the Circuit Court held that State Attor¬
Hoyne should be prevented from proceeding against the company on
ground of overcapitalization.
See Item under caption of "Chicago
Elevated Rys." in V. 97, p. 1425. and also see V. 99. n. 199.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock
$1,000,000
8eries "A"
1st mtge. gold.l 1890
5 g M-N
453,000 Nov 1 1930
gu p Ai by Met W SEl-cpt/G.Sherman.V.-P.Cen.Tr. Co.,N.Y.,Trust
-Mortgage S1.0G0.000, of which $500,000 series "A."
V. 63, p. 1065
Of the $500,000 Series "A" bonds, $453,000 are outstanding (of which $46.000 held by Chicago Rys. Coll. Trust); $45,000 are in treasury and $2,000
CINCINNATI,
were
of
Common, $2,500,000 ($100),.
$2,500,000
Pref S 1.000.000 ($100) 5%
1,000,000
First mortgage, $1,650,000./ 1908
5 J-J
See text
1928
gold
tflint, at Citizens' Sav. A Tr. Co., Clev.. Trus.
ney
the
—-
1919 the tracks and overhead
dismantled and sold for junk.
STOCK AND BONDS—
,
ORGANIZATION.—Formed In 1890 and built from Dnion Elevated at
6th Ave. west to Market St.; thence to Metropolitan W. S. EL; total.
1-5 mile of track; Is operated by the Metropolitan West Side EL
Franchise
-
and Bethel
See V. 105. p. 2272
Dismantlement.—In
Rys. above.
Chicago Elevated
auth. to abandon the franchise between Cincinnati
posed.
-
UNION CONSOLIDATED ELEVATED RY
Ordinance Embodying Unified Operation of Surface and
to increase
co.
the order of the
no
———
.
U. Comm. auth. the
Decision.—On Nov. 26 1917 the Court of Appeals at Cincinnati, reversing
Court of Common
Pleas, held that the receivers have
$58,459
$6,159
$522,655
$458,038
189,107
4.304
507,801
314,390
1916-17
259,122
4,496
484,221
220,603
1915-16
222.310
4.198
449,967
223.459
1914-15
843.682
240.288
4.362
433,845
189.195
RECEIVER.—Samuel Insull,—V. 99. p. 1213; V. 105, p. 2271; V. 107.
p. 1286.
■'
-
—-
1918 the Ohio P.
franchise granted by the county so as to remove restrictions as to rates
of fare. V. 107, p. 291. 802.
*-$1',027,895
949,753
938,288
873.267
1917-18
Feb.
fares from 2 to 2H cents per mile.
In July 1918. the receivers applied to
the County Commissioners of Hamilton County, O., for a revision of the
To»al
single track, 22.71 miles.
Year—
1918-19—
BLANCHESTER TRACTION CO.
MILFORD &
exchange for ah equal amount of 1st mtge. bonds dated l903.
V. 85, p.
221, 469.
The 1903 bond issue was canceled.
In 1908 a new mortgage
made, as below.
Rale Decision.—On Nov. 19 1915 the Ohio Supreme Court affirmed the
the decision of the Circuit Court of Hamilton County holding that the com¬
pany Is obliged to carry passengers for a 5-cent fare between Pleasant Ridge
and Kennedy Heights aiid the business section of the city.
...
—_
108,
ORGANIZATION.—Incorporated in Ohio on Nov. 3 1902 and is a con¬
solidation of the Clncinrfati A Eastern Electric Ry., the Rapid Railway Co.
the Suburban Traction Co. and the Interurban Term. Co.
In July 1907
obtained authority to issue $1,000,000 pref. stock, of which $900,000 was in
and Central Tr. Co. of Illinois, Chic., trus.
5%
128,600
Equipment notes
—151,000 ——*»*.»'
Real estate mtges—,■*—
6,862
Receiver's certfs, $2,000,000-.
1,532,300
Bonds.—First mortgage bonds assenting to reorganization were stamped
subject to call at 105 and Int. on any interest date.
The old Income bonds,
with the exception of $128,600. are held in treasury of the railway company
I
Income mtge,
Hooven and Edgar
Stark.—V.
1415; V. Ill, p. 73, 294, 1277.
INTERURBAN RY. & TERMINAL CO.—A trolley road.
Maturity
$10,000,000
4,432.000 July 1
5 J/T
E.
p.
A
;.*,tf{Cont' & Comml. Trust A Sav. Bank, Chic..
by N W El
guar
1893
Bond Int.
Balance.
$37,500
sur.$10,475
37.500
def.16.495
Receivership.—On Oct. 1 1914, on application of the Westinghouse Elec.
Mfg. Co., a creditor for $2,500, Charles S. Thrasher of Cleveland and
Charles M. Leslie of Cincinnati were appointed receivers.
The Westinghouse Co. charged that the company had defaulted in the payment of in¬
terest on its bonds and Is insolvent.
The company joined in the applica¬
tion.
See V. 99. p. 969. and 1052.
Co., formerly the old Lake Street Elevated RR., reorganized per plan Id
V. 77. p. 1874; V, 78, p. 1392.
Northwestern Elevated owns 51 % of stock.
Franchise expires in 1930.
Lake St El 1st
.
capital stock.
$136,000; for history see this publication for May 1918).
The new company
has an auth. capital stock of $400,000.—V. 107, p. 1836; V. 109, p. 1986;
V. 110, p. 167.
all title of the Ry. Co. in the foregoing bond
Stock
Net.
$47,974
21,005
on
ORGANIZATION.—Incorp. in Ohio on Oct. 24 1918 as successor to
the Cincinnati Milford A Loveland Traction (sold to the bondholders for
Jan. 20 1912, Mr. Church bid In for $2,(KX)
on
$149,216
129,328
assessed
ROAD.—Operates 31-97 miles of track from Anderson's Ferry, at Cin¬
cinnati. £<j> Aurora, Harrison and Lawrenceburg.
Foreclosure.-*-Judge Kohlsaat in the U. S. District Court at Chicago, on
July 17 1913, ordered the foreclosure sale of the railroad.
The amount
found to be due was $5,080,984. Dp to Oct. 1 1920 road had not been sold.
Sheriff's sale In New York
———
5 g J-J
750,000 July 1 1918
(interest at Dn. Sav. Bk. A Tr. Co.,Cin., Tr.
Embodying Unified Operation of Surface and Elevated Lines.
Chicago Elevated Rys. above.
Receivership.—On Nov. 13 1911 Judge Kohlsaat appointed Samuel
Insull receiver for the Railroad.
V. 93, p. 1386.
On Dec. 29 1911 re
93,
*
1899
Receiver's certificates
CHICAGO & OAK PARK ELEVATED RR.
Ordinance
V.
15
Maturity.
Outstanding.
-
-
Pref.6% cum,$250.000.
First mortgage. $750,000
($1,000). gold——.*
—See
ments.
_
Oct.
1920 and no arrangements had been made for the payment of same up to
that time, but we are advised that the co, will undergo a reorganization in
I
Stock.—Further issues of stock can only be made for acquirement of
other properties and additions to the present properties.
Bonds.—First mtge. covers holdings of stock of the Cincinnati Traction
Co. and Cincinnati Car Co. owned and controlled by Ohio Trac. and all
other property and franchises exception Traction cos. ownership of stock in
Cincinnati Dayton A Toledo Traction Co.
Bonds are redeemable as a
or In part for sinking fund on any Int. date at 103 and int.
fund provides for retirement of bonds at maturity. V. 92, p, 726.
whole
in sinking fund Jan.
Sinking
Amount
15 1920, $542,000.
Notes.—Secured by pledge of 19,989 shares of Cine. Trac. Co. stock,
14,995 shares of the Cincinnati Car Co. stock, $2,000,000 6% debentures
Trac. Co. and the Traction Bldg. in Cincinnati (subject to
$1,958,000 bonds).
The remaining $1,500,000 notes may be issued for
impts. under certain restrictions.
A retirement fund of $650,000 annually
has been established to be deposited with trustee to purchase notes
monthly,
at the lowest price offered, or by lot at the call price.
These notes will be
retained by tne trustee and kept alive as additional security for any out¬
standing notes and the accruing int. will be used to purchase additional
notes from year toyear.
Call, all or in part at 101 and int. any time on
of the Cine.
' 4 weeks' notice,
v.
110,
p.
562.
OCT., 1920.]
Dividends.—First
and
rate
same
deferred.
paid
See
div.
ELECTRIC
on
pref.
stock—1)4%—was paid Aug.
quar. to and Incl. Nov.
1915.
1905
1
The Feb. 1916 dlv. was
Pres.
Schoepf's letter In V. 102, p. 437.
On Com., first
dlv.—1%—paid Nov. 1 1909.
In 1910. Oct.. 1%.
In 1911. July, 1%\
In 1913, April, 1%.
1%.
EARNINGS.—
L%; APriI- 1^: Ju]y-
0ct-
None since.
Gross
Net
Dec-
Fixed
Balance,
Surplus.
x$41,577
Calendar Year—
Income.
Income.
Charges.
1918
8272,438
$220,577
$179,000
1917
.
751,225
699,545
197,000
502,545
x The revised franchise of Aug. 23 1918
permits the Cincinnati Trac. Co.
to earn fixed sums which will become available to this
company for int.,
div. and sinking fund purposes.
The amount actually earned by the Cin¬
cinnati Trac. Co. in the year 1918 was short of the ordinance allowances
by
RAILWAYS
31
OFFICERS.—Pres.. B. L. Kllgour; V.-P., Edward Goepper: Sec.
Treas., A. J. Becht.—V. 106, p. 924; V. 107, p. 2097; V. 108, p. 1511.
(2)
Cincinnati & Hamilton Traction.—A trolley road.
ORGANIZATION.—This company
(!)
The Cincinnati Traction Co.
ORGANIZATION.—Incorporated
in Ohio on Feb. 19 1901 with an auth.*
capital stoqx of $2,000,000 (which, all except 11 shares, is owned by the
Ohio Trac. Co.), to take over under lease the Cincinnati Street
Ry. Co.
gee ^ 72 p 391
*
g
Ordinance.—On Aug. 23 1918 the Cincinnati Citv Council
revised franchise, which went Into effect upon Sept. 23 1918.
The
franchise was signed
byj the Mayor, and thereby became a law, it having
Franchise
passed
a
organized in Aug.
1902 as a
8ept. 30
1903.
$55,000. increasing to
$100,000 for
1915-16 and thereafter.
On July 9 1914 Judge Sater in the U. S. DIst. Court at Columbus held
Invalid the ordinance passed by the City Council on Apr. 27 1914, providing
for a 5-cent instead or a 10-cent fare from Cincinnati to Carthage and Hartwell (see V. 98. p. 1392), and granted an Injunction against Its enforcement.
.
V. 99. p.196.
STOCK.—Auth. and outstanding, common, $1,100,000; 5% cumulative
Par of shares, $100.
Divs. payable Q.-J. -
pref., $1,100,000.
Dividends.—5%
per annum is being paid oh the pref. stock.
The first
on the com. or
was paid Jan. 1 1904 and
Si% was again paid on
April 1, July 1 and Oct. 1 1904.
In 1905,1%; in 1906,1M %: In 1907, 2%;
in 1908, 2%; in 1909. 2)4%; In 1910, 2)4%; in 1911 and 1912.
3%; since.
1% quarterly.
div.
.
,
ROAD.—Owns and operates 36.52 miles of track from the "Zoo" In Cin¬
cinnati to Hamilton and 15 miles from Cincinnati to Lockland.
Gauge'
5 ft. 2)4 in.
Operates over tracks of Cincinnati Traction Co. from "Zoo"
to Fountain
a
been decided that the revised francnise would not be submitted to
V. 107, p. 1191.
The ordinance modifies the
was
consolidation of the Mill Creek Valley Street Ry. and the HamTltonGlendale
& Cincinnati Traction.
V. 75, p. 497.
On Sept. 30 1902 was leased to the
Cincinnati Interurban Co. (V. 75, p. 906), but on July 6 1905 lease was
assigned to the Ohio Traction Co. and the Cincinnati Interurban Co. placed
in liquidation.
Rental, year end.
.
$470,511 and under the provisions of the ordinance this shortage must be
made up from earnings of future years.
OFFICERS.—Pres., W. Kesley Scnoepf; 1st V.-P., Chas. P. Taft; 2nd
V.-P., Dana StevenS; 3rd V.-P. and Sec..' Walter A. Draper,* Asst. 8ec.,
D. J. Downing; Treas., W. H. MacAlister; Aud., E. J. Boos; Gen.
Mgr.,
A. Benhairr—V. 103, p. 759; V. 104.
p. 1593; V. 107, p. 803; V. 108, p. 873,
2630; V. 11Q9, p. 776; V. 110, p. 562, V. Ill, p. 1279, 1370, 1567.
&
Square In Cincinnati.
OFFICERS.—Pres., B. L. Kilgour; V.-P., Geo. W. Lewis; Sec. & Treas.,
Becht, all of Cincinnati.—V. 99, p. 196:jV. 106, p.J)24.
A. J.
referen¬
dum vote.
company's 50franchise granted in 1896 as permitted at the end of 20 and 35-year
periods and contains the following main featuras: (a) City control over ser¬
vice, extensions and all features of operation.
(6) A sliding scale of fares
CLEVELAND RAILWAY CO.
based
The receivers of the
year
on
the cost of service with 5 cents
as
the initial
transfers,
(c) Company is to establish a reserve fund of $400,000 through
surplus earnings.
When the reserve fund reaches $650,000 an automatic
reduction of M cent in the rate of fare xvill take place.
On the other hand,
if the reserve fund should be reduced to $250,000 the rate will
automatically
increase 3^ cent.
(d) A fixed return to the company on its investment.
(e) When the rate of fare is 5 cents or less the company may retain 45%
of the surplus, the remaining 55% going to the reserve fund; when the
rate is increased to 5H cents the company's share of
surplus will be reduced
to 30%, and when 6 cents is reached the
company may retain only 20%;
when the rate of fare exceeds 6 cents the entire
surplus is to go to the
reserve.
(/) Franchise tax of $350,000 per annum to be paid to the city.
(g) City to have right to purchase the property of the Cine. Trac. Co. and
the Cine. St. Ry. either by condemnation or at the agreed valuation of
$30,856,950.
For further details see V. 107. p. 802, 1003, 1287; V. 110.
p, 561.
Fares.—On Jan. 1 1919 the original 5-cent fare provided for under the
above ordinance being found inadequate, the rate was increased to 534
cents, and on April 1 1919 the rate was increased to 6 cents, being the next
higher scale under the above franchise ordinance.
V. 108, p. 1274.
On
July 1 1.919 the 6H-cent scale went into effect and on Oct. 1 1919 the fares
were increased to I cents,
V. 109, p. 370, 1179.
A further increase in
fares on Jan. 1 1920 was prevented by the adoption of the refinancing plan
given under Ohio Traction Co. above,
V. 110, p. 77.
On Sept. 1 1920,
however, fares were raised to 8 cents.
V. Ill, p. 1082.
Ordinance Upheld.—On April 3 1919 Judge Frank R. Gusweiler in the
Superior Court at Cincinnati upheld the city franchise ordinance and refused
to grant an injunction to enjoin the increases in fare rates.
V. 108. p. 1511.
Report for Year 1919 by Dept. of Street Railroads.—V. Ill, p. 1273.
198
NOTES—
Date.
Debentures $2,250,000
1920
Equip
notes.
Series
1911
$220,000, gold ($l,000)_c*lFidelity
Equip
notes,
Series
"D1912
$340,000, gold ($1,000)_c»(Fidelity
Equip notes Series "E" $200.-f 1914
000 gold ($1.000)
c* 1 Fidelity
Equipment notes Series "F"J 1917
$550,000 gold
(Fidelity
Equip notes Series "G-l" $1,-f
1919
Interest.
Outstanding.
See text
6%
5 g J-J
Trust Co..
5 g A-0
Maturitv
1945
See text.
22,000
Philadelphia. Trustee.
85,000
See text.
Philadelphia. Trustee
70.000
See text
Trust Co..
5 g M-S
Tr. Co.. Phila.. trustee.
5 g F-A
Trust Co.,
6 g A-O
385,000 See text
Philadelphia, trustee.
850,000
See text
000,000 (SKOOO) gold—c*(Fifth-Third Nat. Bank, Cine., O., trustee.
Equipment notes Series "G-2" J 1919
6 g A-0
175,000
See text
$250,000
(Fifth-Third Nat. Bank, Cine.. O., trustee
$2,000,000 of the debentures are pledged as collateral under the Ohio
Trac. Co.'s 3-year 7% notes and the remaining $250,000 are held by the
trustee
the
as
Series "C"
initial
are a
payment into the
1st mtge. on ,50 new cars.
reserve
fund.
V.
110,
p.
561.
They mature $11,000 half-yearly
V. 93, p. 526Series "D" are a 1st mtge.
on 76 new cars and mature $17,000
half-yearly from April 1 1913 to Oct. 1
1922, inclusive.
V. 95, p. 889.
Series "E" covers 60 new double-truck
from Jan
1
1912
to
July 1 1921.
and
mature SIO.OOO semi-annually from Aug. 31
1914 to Feb. 29
V. 98, p. 689, 999.
Series "F" covers 100 new double trucic cars and
semi-annually $27,000 on Jan. 31 and $28,000 on July 31.
Series
•'G-l" are a first mtge. on 105 double-truck cars and mature $50,000 semiann.
(A & O) to April 1 1929.
Series "G-2" are a second mtge. on
cars
CLEVELAND, OHIO.
fare with universal
provided for, the Cleveland Ry. Co. on Mar. 1
1910 resumed possession of its lines under ordinance (see below) of Dec.1909.
V. 90, p. 626. The lease to Municipal Traction Co. was canceled of
record.
Franchise Ordinance.—A new franchise ordinance (V. 89,
p. 1667)
passed in Dec. 1909 by the City Council, and accepted by the
railway
based upon the valuation of the co's property as fixed by Judge
Tayler.
ordinance grants franchises to operate on existing roads to May 1
1934.
pose exten.. betterm ts or Impts. shall terminate whenever the unexpired
renewal thereof is less than 15 years, and also that during such
period the company may operate at the maximum rate of fare and fix the
schedules subject to the police power of the city. Provision is also made for
the use of surplus earnings during this 15-yr. period, either in the
payment, of
term or any
floating debt or the creation of a s. f. to purchase securities and reduce
capital value.
At a referendum election on Nov. 7 1911, the electors ratified
the ordinance amending that of Dec. 1909.
Has franchise in Lakewood, expiring May 1 1944. which provides for a
3-cent fare within city limits and a 5-cent fare to Cleveland, and gives the
City of Lakewood the right to purchase the company's lines within the
city, subject, however, to the option of the city or Cleveland to purchase
the entire property of the company.
Valuation.—Judge Tayler placed the value of the physical property of the
Cleveland Elec. Ry. Co. at $17,511,856 and the franchise value at $3,615,844; total, $21,127,700; agreed value of property purchased from Forest
City Ry. Co., $1,805,600; total valuation, $22,933,300.
To this is added
11.158,300 interest or rental accrued, making the entire "capital value"
$24,091,600.
The bonded debt of $8,128,000 and floating indebtedness
as of Jan.
1 1908. $1,288,000. or $9,416,000 in all, is deducted, leaving
$14,675,600.
The valuation is to be Increased for the purpose of fixlng.the
price at which the city or its nominee may purchase the property by the
amount of future requirements. Including cost of new pay-as-you-enter cars
and 75% of the cost of remodeling old cars as pay-as-you-enter cars.
Fares.—Fare
company's
same
April
equipment and mature $25,000 semi-ann. each April and Oct. 1
1924.
Rentals.
Interest.
Bal.,Surp.
$5,739,992
$1,526,946
$1,234,937
$69,639
a$222,370
6,026,847
2,150,842
1,234,937
30,236
b885,669
1916
5,951,816
2.064,346
1,234,937
34,792
794,617
a This sum is $827,550 short of the amount allowed by th
ordinance
for interest and sinking fund on $4,000,000 of the impts. made to Dec. 31
1916, the return on the additional impts. to that date and the percentage
tax to the City of Cincinnati.
The deficiency becomes a cumulative charge
against the gross receipts of future years,
b This sum is sufficient to pay
the sums allowed by the ordinance for interest and sinking fund on $4,000,000 of the impts. made to Dec. 31 1916 and the return on the additional
Impts. made to that date, and is within $171,528 of the sum due as percent¬
age tax to the city of Cincinnati.
The ordinance allows the deficit to be
1917
earned in future years.
ROAD.—The Cincin. St. Ry. comprises 227.78 miles of track in the city
of Cincinnati,
Ohio, extending also to adjoining suburbs.
Officers .—Chairman
Executive
Comm.
Gauge,
5 ft.
and
Pres.,
W.
Kesley
Schoepf; VIce-Pres., Dana Stevens; Vice-Pres.. Walter A. Draper; Sec.,
D. J. Downing; Treas., W. H. McAlister; Aud., E. J. Boos; Gen. Mgr.,
A. Benham.—V. 110, p. 561; V. Ill, p. 791, 989, 1082, 1273.)
(a)
Cincinnati Street Railway.—Electric.
Was leased
on
Feb. 21 1901 to the Cincinnati Traction Co. for the
unex-
flred and all successive renewals and by the Cityofof CincinnatiThe rental 13
on Aug. ia
896, term of the franchise granted extensions
the
same.
Intended to provide dividends of 5)4 % for the first year, 5)4 % for the sec¬
ond, 5%% for the third and 6% for the fourth year and thereafter.
V. 72,
p.
136.
Franchises, it Is claimed by company, mature April 22 1946.
Favorable Tax Decision.—In June 1915 the U. 8. Circuit Court of Appeals
at
Cincinnati, reversing the lower court, held that the Government was
obliged to return to the Cincinnati Street Ry., Dayton & Western Trac. Co..
Columbus Newark & Zanesville Elec. Ry., Ft. Wayne Van Wert & Lima
Trac. Co. and Indiana
Columbus & Eastern Trac. Co. about $100,000
collected from these companies under the old Federal corporation tax law
The question at issue was whether these companies carried on business
within the meaning of the law. having leased their properties to other cor¬
porations, and the only business done by them being to collect and pay out
the rentals under the leases.
The Court held that they transacted business
only Incidentally to that of the lessor companies.
V. 101. p. 212.
Valuation.—See Cincinnati Trac. Co. above and In V. 103, p. 578.
Lease of "Loop."—See Cincinnati Traction Co. above.
ORGANIZATION.—Incorporated June 21
1880 and in 1896 purchased
Mt. Adams & Eden Park and Mt. Auburn roads.
STOCK AND
BONDS—
Interest.
Outstanding. Last div.,&c.
$50
6 Q-J
$18,738,950
See text.
Dividends,—To and including April 1901, 5% per annum;
July 1 and
Oct. 1 1901 and Jan. 1 and April 1 1902, 1.3125% each; July 1 1902, Oct. 1
1902, Jan. 1 1903 and April 1 1903, 1.375% each; July 1 and Oct. 1 1903
and Jan. 1 and April 1 1904. each 1.4375%: July 1904, 1M%; Oct.
1904,
1)4%.
Dividends since bave been at the rate of 6% per annum and will
bo continue to the end of lease and its renewals.
Stock. $20,000,000
Par.
East
Cleveland Is same as city fare.
Fare to other
tickets for 50 cents, according to contracts.
The
and routes are subject to the supervision of the
city and the rates of fare to be fixed so as to net a return of Interest as stated
above on the capital value of the property and permit of the maintenance at
all times of a so-called Interest fund of at least $500,000V. 89, p. 1667.
When this amount falls to $300,000 this shall be prima facie evidence of
the necessity of raising the fare to the next higher rate.
An experimental
fare of 3c., with lc. extra for transfers without rebate, was tried to see if
It would yield the auth. Int. on capital val.—5% on bonds, 6% on
floating
debt and capital stock.
On June 1 1911 authorities ordered the fare re¬
to
suburbs 5 cents,
REPORT.—For years ending iDec. 31:
Years—
Gross.
Net,after Tax.
sub¬
electors ratified the ordinance (V. 89, p. 1667; V. 90, p. 167,
502).
On
July 10 1911 the City Council passed an ordinance amending that of Dec.
1909 providing, among other things, for additions to capital as required and
particularly for the Immediate expenditure of $2,500,000 for impts., extern,
and equipfc.
The ordinance also provided that the right of the city to pro¬
1924.
the
was
co.,
The
ject to the right of the city to purchase the property.
In May 1919 the life
of the ordinance was extended for 10 years, from
May 1 1934 to May 1
1944.
V. 108, p. 2122.
In case of purchase the city must pay the capital
value of said property, as fixed by Section 16 plus at the same time
10%
of so much of the capital value as is represented by
capital stock, assum¬
ing and agreeing to pay, in addition thereto, all the obligations, indebted¬
ness and liabilities of the
company, and all liens other than bonded debt
upon its property then existing, which bonded debt the city shall provide
for by assumption, by payment or by taking the
property subject thereto,
as may be provided
by law at the time.
On and after Jan. 1 1918 the
city may designate a purchaser or licensee in place of the citv on pay¬
ment of'same amount.
On Feb.
17 1910 at a referendum election the
matures
to
Municipal Traction Co. having been discharged and
the debts of that company
or
11
schedules
duced to 3c. cash fare, lc. extra for transfer, but the latter to be rebated
when taken up.
V. 92, p. 1498; V. 93, p. 1190.
On Sept. 1*1914, however,
the one-cent charge for transfers with no rebate on surrender was restored,
as the Interest fund had fallen below the $300,000 mark.
V. 99, p. 608. 342.
On Dec. 15 1917 the Interest fund having again fallen below
$300,000,
cash fare of 4 cents and 3 tickets for 10 cents with a 1-cent
charge for
transfers with rebate was made effective.
Beginning Dec. 26 1917, the
rebating of the transfer charge was discontinued.
V. 105, p. 2455; V. 106,
p. 85.
In Apr. 1918 a new schedule of a 4-cent cash fare, 7 tickets for a
quarter and a 1-oent charge for transfers, with rebate, was put into effect.
See V. 106. p. 1461.
The increase was upheld by the Ohio Supreme Court.
V. 106, p. 1796.
On Aug. 4 1918 rates were increased to 5 cents cash fare
and 5 tickets for 25 cents with a 1-cent charge for transfers without
rebate,
as a result of an ordinance
passed by the City Council on Aug. 3 1918 which
fixes 5 new fare schedules and provides for increased
operating allowances.
[On July 1 rates were reduced to 11 tickets for 50 cents, with a 1-cent
charge for transfers.
V. 108, p. 2433: V. 109, p, 172; and on Dec. 15 1919
fares were further reduced to 6 tickets for 25
cents, with a 1-cent charge
for transfers.
V. 109, p. 2356.
On May 12 1920, however, rates were
raised to 5 cents flat.
V. 110, p. 2387.
On Sept. 15 1920 the maximum
rate of 6 cents or 9 tickets for 50 cents was
put into effect.
V. 111, p. 1082.
The fare schedules are asfollows: (1) 6 cents cash fare, 9 tickets for 50
cents;
(2) 5 cts.cash fare, 5 tickets for a quarter; (3) 5 cents cash fare, 11 tickets for
50 cents; (4) 5 cents cash fare, 6 tickets for a quarter;
(5) 4 cents cash fare,
5 tickets for 20 cents.
Each schedule provides for a 1-cents charge for
transfers without rebate.
V. 107, p. 695; V. 108. p. 2433.
On Dec. 14 1912 the Council of Cleveland
passed an ordinance giving the
company the right to transport freight within the city limits in interurban
cars and to charge the interurban
companies 25c. per car mile.
ORGANIZATION.—In 1908 changed name from the Cleveland Elec¬
tric Railway Co. (which had in 1903 taken over the Cleveland
City Ry.)
to Cleveland Railway Co., and authorized new stock to the
amount of $35,000.000.
The old stock of Cleveland Electric Ry. was given a valuation
erf $55 per share, or $12,870,000 (having formerly been
$23,400,000) and
was
paid for in new stock issued by Cleveland Railway at par ($100
valuation.
The Forest City Ry. (which had first absorbed the Low Fare
Ry.) was purchased for $1,805,600 stock of Cleveland Ry.. the shares of the
Forest City Ry. being accepted at their par ($100) value.
a
On Jan. 2 1917
18-year
oontraot
a
board of arbitrators authorized the co. to enter into an
the Cleveland Electric Illuminating Co. for the
with
purchase of power, which
was
accordingly done.
Operating Agreement.—On Oct. 1 1919 the co. entered into an operating
agreement with the Cleveland Interurban Ry. running from 2 to 3 years.
V. Ill, p. 588.
Wages.—V. 107, p. 695.
Municipal Subway.—On Nov. 19 1917 Mayor Davis appointed a com¬
men to take Charge of the building of a municipal
subway system.
See V. 105, p. 2271; V. 109, p. 271, 477.
The ordinance
providing for such action was held legal by the Ohio Supreme Court in
mission of five Cleveland
ELECTRIC
32
V. 106, p. 1688.
The people on April 27 1920 voted down
proposed $15,000,000 bond Issue for the financing and building of the
April 1918.
a
V. 110, p. 2075.
Compare V. 110, p. 764.
In Feb. 1920 the Traction Commissioner applied to the City Council on
behalf of the company for authority to issue $2,500,000 in stock for extens.,
impts., &c.
V. 110, p. 561.
In April 1920 the company announced that
it would issue $1,000,000 stock at not less than par to pay for add'ns, &c.
V. 110, p. 1526.
$171,400 of this stock had been sold to Sept. 1 1920.
Increased Dividend Voted Down.—The Cleveland City Council on Dec. 29
1919 formally granted an increase in the co.'s div. rate from 6 to 7%, in
accordance with the recommendations (V. 109. p. 2262; V. 110, p. 261) of
the three arbiters who conducted an inquiry into this question.
On Aug. 10
1920 however, this question was submitted to a referendum vote and
defeated.
V. Ill, p. 692,1565.
Compare V. 110, p. 2387; V. Ill, p. 389.
The company on April 1 1920, paid a div. of 1 % % but subsequent divs.
are being paid at the old rate of 1)4%quarterly.
The city has brought
suit to compel the company to pay back into the Interest fund the $72,000
paid out in divs. over the regular rate on April 1 1920.
V. Ill, p. 1182,
1277,1565.
subway.
BONDS—
Date.
Interest.
Outstanding.
Maturity
Q-J
$28,895,000
See text
$35,000,000 g/ 1911
5 M-S
5,495,000 Mch 1 1931
„.--c*tflInterest in New York City or Cleveland.
STOCK AND
Stock$35,000,000 ($100)
First mortgage
($1,000)
....
Bonds.—Of the first mortgage of 1911, $15,000,000 auth. may be issued tor
85% of cash cost of extensions, betterments, &c., and remaining bonds for
50% of such cash cost, when net earnings for previous 12 mos. sball have
equaled at least twice the int. charge, including bonds proposed to be Issued.
Bonds are red. on any int. date at 105 and int. on 90 days' notice.
C!ti
zens' Savings & Trust Co., Cleveland, and Bankers Trust Co., N. Y,.
trustees.
Dividends.—First div.—1)4%—under new franchise ordinance of Dec
1909 paid April 1910
and 1)4% auar. since to and including January 1920.
April 1 a div. of 1 % % was paid.
V. 110, p. 2487.
Subsequent divs.
being paid at the old rate of \)4 % quar. (see above.)
On
are
REPORT.—For calendar year;
Gross
Net
Other
Int., Taxes &
Balance.
Earnings.
Income. 6% Dividend.
Surplus
$4,476,098
$201,711
$3,257,890
$1,419,919
1918
12,338,906
3,587,090
105,044
2.715,914
976,220
From the surpluses as above there was deducted $619,663 in 1919. against
$744,000 in 1918, for obsolete equipment written off, leaving a surplus of
$800,256 for 1919 and $232,221 for 1918.
Calendar
Year—
Darnings.
1919—— .$15,459,234
-
ROAD.—Operates 393 681 miles of single track, of which 364.5648 miles
owned.
Mostly 80, 95, 100, 103 and 141-lb. standard rails; 1.438 pas¬
5 other revenue cars and 190 service cars.
are
senger cars;
OFFICERS.—Pres., J. J. Stanley; V.-P., J. II. Alexander; V.-P., R. A.
Harman; V.-P. & Gen. Mgr., Geo. L. Radcliffe; Sec. & Treas., Ff. J. Davies;
Asst. Treas., Wm. J. Mead; Aud., Thos. T. Kilfoyle.
V. 110, p. 2075,
2387, 2487; V. Ill, p. 389, 588, 692, 1082, 1182, 1277, 1565.
cleveland southwestern & columbus ry.
ORGANIZATION.—Incorporated In Ohio on March 4 1907 and is a
consolidation of the Cleveland & Southwestern Traction Co., the Clevelanp
Ashland & Mansfield Traction Co. and the Ohio Central Traction Co.
For
terms of exchange see v. 83. p. 1590.
Also owns the Norwalk Gas &
Electric Co.
I
In Jan. 1913 the Elyrla Grafton 8c Southern Ry. reduced its capital stock
from $100,000 to $1,000. and the Norwalk Gas 8c Elec. Co. from $125,000
to
$1,250.
In March 1913 the Cleveland Southw. & Col. reduced the
authorized amount of common stock from $7,500,000 to $4,236,000.
In Jan. 1917 accepted a 25-year franchise from the City of Elyrla, pro¬
viding for 20-minute city service and 6 tickets for 25c.
The Ohio P. S. Comm. has from time to time auth. the co. to Issue
$548,678 1st consol. M. 5s at not less than 85 to reimburse the co. for
penditures for impts., &c., and to hypothecate them pending sale.
ex
In June 1917 the Guardian Sav. & Trust Co.
purchased $75,000 car trust
6s issued against 8 new cars, maturing $10,000 each year thereafter on
May 15 and Nov. 15 until retired.
Fare Increase.—On Aug. 15 1918 a new fare schedule went into effect
which
a
provided for
mile.
V. 107, p.
straight rate of 3 cents a mile, an increase of )4 cent
401.
An increase of 25% in class and commodity rates
In Feb. 1919 the co. announced that as It was practically impossible to
Oberlin cons. M. 5s, due Mar. 1
1919, it had arranged to extend same to Aug. 1 1920 at 5%.
A cash pay¬
ment of $28.33 on each $1,000 bond so extended was made, thus netting the
holders a return of 7% during the period of extension.
V. 108, p. 1060.
These were further extended to Feb. 1 1923 at 7%.
refund the $127,000 Clev. Ber. Elyr. &
The $95,000 1st M. 5s of the Ohio Central Traction Co., due June 1 1919,
were taken care of in a similar manner; the company arranging to extend the
maturity of same to Aug. 1 1920 at 5%.
A cash payment of $23.33 was
made, thus netting the holders a return or 7 % during the period of extension.
V. 108, p. 2241.
These were further extended to Feb. 1 1923 at 7%.
The $110,000 Norwalk Gas & Elec. 1st 6s, due April 11920, were extended
to Feb.
was
19 8
but
1 1923 at 6%.
A cash payment of $14 17 on each $500 of bonds
made, thus netting the holder a little over 7% during the period of
V. 110, p. 1186.
$200,000 Cleveland & Elyria Elec. Ry. 6s and the $1,073,000
Cleveland, Elyria & West. Ry, 5s, both due Aug. 1 1920 were extended to
Feb. 1 1923.
Int. on both issues was increased to 7% per annum and the
bonds made callable at par and int. on any
Date,
int. date.
Interest.
First general consol mortgage!
1907
5 A-0
$ 10,000,000($1,000)gc*&rcptj Int. at Cleveland Tr. Co., Cleve., Trustee.
Cleveland & Elyria first mort-J 1895
7 Q-F
200.000
Feb 1 1923
gage
on
18 miles ($500)jInterest at Citizens' Savings 8c Trust Co..
Subject to ball.-cpt(
Cleveland, Trustee,
Elyria & Oberlin first mort1897
6 F-A
100,000 Aug 1 1922
gage on 9 miles ($500) gold}Interest at Cleveland Trust Co., Trustee.
Subject to call
cptj
Clev Ber Elyr & Oberlin cons)
1899
7 g M-S
127,000 Feb. 1 1923
M $500,000g ($1,000each)}Interest at Cleveland Trust Co., Trustee
Subject to call
cpt
Cleveland Elyria & Western
1900
7 g F-A
1,073.000
Feb 1 1923
first mortgage $1,500,000 Int. at Cleve. Tr. Co., Cleve., Trustee, or at
Nat. Bank of Commerce in N. Y.
($1,000) gold.
c&rcpt
1902
5 g J-J
100,000 Jan. 1 1922
Elyrla Grafton & Southern
Ry
first mortgage guar¬ Interest at Cleveland Trust Co., Cleveland,
anteed by O E & W ($100,Trustee, and Equitable Trust Co., N. Y.
000 ($1,000) gold
Can be called at par.
c*cpt
Norwalk Gas & Electric first
1900
6 a-0
110,000
Feb 1 1923
mtge. $110,000 ($500), g. Int. at Guardian S. 8c Tr. Co., Cleveland,
Subject to call
cpt [
Trustee, or Chase National Bank, N. Y.
Cleveland
8c
Southwestern' 1903
5 g f-a
1,400,000 Feb 1 1923
first and consol mortgage Int. at Guardian Sav. & Tr. Co., Cleveland.
Trustee, or Equitable Trust Co., N. Y.
$3.000,000 ($ 1,000) gc&rc pt
Ohio C Trac first mortgage
1899
7 g J-D
95,000
Feb. 1 1923
closed ($1,000), goldc»ntf Int. N. Haven Tr. Co., N. Hav.. Conn., Tr.
Ohio Central Traction consol¬
1903
5 g M-S
305.000 Mar I 1923
idated
mortgage
closed Int. at Cleve. Tr. Co., Cleveland. Trustee, or
at National Bank of Commerce, N. Y.
($500). gold
.c*cpt
Car trusts
»
,
1917
6 M-N
0.000
See text
Bonds.—Of the $10,000,000 new bonds. $3,510,000 are reserved for prior
and $5,545,000 are for extensions, improvements, &c.
They are
liens
subject to call after 10 years at 105 and accrued int.
The Cleveland &
Southwestern bonds of 1903 are subject to call at 105 and int.
$1,600,000
of this issue
are
reserved to retire certain underlying bonds.
The Cleveland 8c Elyria 1st M. 6s of 1895 fell due May
extended to Aug.
at
I 1915. but were
1 1920 at the same rate of int. and again to Feb. 1 1923
7%.
Of the Cleveland Berea Elyria & Oberlin 5s dated March 1 1899. $300,000
remain In reserve for the retirement at or before maturity of the divisional
6s|to
a
like amount.
These originally fell due
on
Mar. 1 1919 but
were
extended to Aug. 1 1920 and again to Feb. 1 1923 at 7%.
The extended
bonds are red. at par and int. on any int. date.
Of the $1,500,000 Cleve¬
land Elyria & Western new 5s, $427,000 are reserved to retire prior liens.
V.
110, p.
—
1917-1-
Balance.
Net (after Taxes').Int., &c.
.$1,870,404
1,531,294
1,407,768
$367,139
$457,356
300,806
276,177
sur.
358,375
340,995
'
$90,217
def. 57,569
def. 64,817
ROAD.—Operates 209 miles of track (of which 177 miles are on private
right of way) In and from Cleveland to Berea, Elyria, Oberlin, Norwalk,
Medina. Grafton. Wellington. North Amherst. Lorain Creston, Chippewa,
Lake. Seville, Wooster, Linndale, Puritas Springs, Gallon, Bucyrus, Crest¬
line, Mansfield, Ashland, Nankin, Polk, West Salem, Lodi and Le Roy,
60, 70 and 100-lb. rails.
Standard gauge.
Also does freight and express
business.
Operates 66 passenger and 35 other cars; total, 101.
Company
owns
Puritas Springs and Seccaium Park and reaches Chippewa Lake.
electric-lighting plant in Norwalk.
Also owns and operates
OFFICERS.—Pres., F. E. Myers; V.-P., L. J. Wolf; Sec. & Treas.,
O. Wilson; Gen. Mgr., E. F. Schneider; Auditor, M. E. McGraw.
General office, National City Bldg., Cleveland.—V. 105, p. 180,389,1309
J.
1617, 2455; V. 106, p. 607; V. 107, p. 82, 401; V. 108, p. 2241; V. 109, p.
1186; V. Ill, p. 389.
cleveland painesville & eastern rr.
ORGANIZATION, &c.—Incorporated in Ohio on April 25 1895.
Road
completed in July 1908.
Franchises expire from 1920 to 1935.
In June
1906 acquired control of the Clev. Painesv. 8c Ash. RR. V.82, p.1322,1379.
In 1913 purchased the United Light & Power Co. (stock, $100,000
bonds, $100,000).
Rate Increase.—Late in 1917 was auth. by the Ohio P. U. Comm. to
Increase lighting and power rates.
Fare Increase.—In July 1918 was authorized by the Ohio P. U. Comm.
effective Aug. 1 1918.
to increase passenger rates,
V. 107, p. 401.
Extension.—On Sept. 16 1918 the company announced that be¬
cause of abnormal financial conditions it would be practically impossible
to
refund at that time
the $500,000 1st ratge. bonds and the $1,131,000 1st consol. mtge. 5s due Oct. 1 1918.
The co., therefore, arranged for
an extension of the maturing issues to Oct. 1 1923 at 7%, extended bonds
are red. all or in part at 100 and interest on any interest date on 60 days'
notice.
V. 108, p. 1274.
Bond
Interest.
Outstanding.
Maturity.
$2,500,000
500,000
Oct 1 1923
Interest at Morton Trust Co., N. Y., or
gold
Cleveland Trust Co., Clev., Trustee.
1898
7 A-0
1.131.000 Oct 1 1923
Consol. mort. (closed
$1,Int. at Citizens' Sav. & Tr. Co., Cleve.,
631.000 ($1,000). gold.cpt
Trustee, or Trust Co. of America, N. Y.
1908
5g M-N
926,000 May 1 1948
Ref and extension mtge, $5,000.000. gold($1.000)c»cpt Int. at Clevel Trust Co., Cleveland, Trustee,
or company's agency in New York.
Bonds,—$500,000 consols are reserved to retire underlying liens.
The
mtge.. originally for $2,000,000. was closed at $1,631,000 and the balance
canceled.
The consols, originally matured Oct. 1 1918 and bore int. at
Date.
STOCK AND BONDS—
Stock, $3,500,000 (par $100)-First
-.
7 g A-0
1896
$500,000,
($1,CK)0 each)_c*_cpt
mortgage,
but were extended to Oct. 1 1923 at 7%. Of the refdg. and extension
bonds, $1,631,000 are reserved to retire prior liens, and $2,415,000 are
5%
reserved
future
for
extensions
and impts.,
be
to
issued
only
when
net
earnings for preceding 12 months have been not less than 25% in excess of
interest charges on Outstanding bonds, including those to be issued.
$28,000 are in the treasury.
Subject to call May 1 1938 or on any interest
date
thereafter at
par and interest on 30 days' notice.
The 1st mtge.
fell due April 1 1916 but were extended to Oct. 1 1918,
Oct. 1 1923; in the latter case the int. rate was raised from
bonds originally
and again to
5% to 7%.
REPORT.—For years endinv Dec. 31 (excl. United Light 8c Power Co.)
Gross
Net. after
Other
Interest
Balance
Calendar
Earnings.
Year—
Income.
$1,661
Taxes.
$216 767
,..$654 325
1919
iSurplus.
$47,245
&c.
$171,182
1918—
517,930
158,898
1,883
149,553
11,227
The results of the United Light & Power Co. for 1919 were: Gross, $36,873;
net, after taxes, $16,496In 1918, gross, $32,047; net, after taxes, $14,579
In 1917, gross, $29,251; net, after taxes, $9,233.
ROAD.—Owns
{-o&d from Euclid, Ohio, to Painesvilie and Fairport,
("Main Line"), and uses Cleveland Electric Ry. from Euclid
Square, Cleveland, 10 miles; also owns "Shore Line," extending
from Wllloughby to Cleveland (St. Clair Ave. & 110th St.), 14.89 miles,
and uses the Cleveland Electric Ry. Co.'s track from that point to the
Public Square, Cleveland, 5 miles.
Total track operated (including 4)4
miles of double), 46 H miles.
With the Cleve. Painesv. & Ashtabula forms
a continuous line from Cleveland to Ashtabula.
46 motor cars and 8 other
cars.
Power-house is at Painesvilie.
Car-houses at Willoughby and
24.02 miles
to Public
Nottingham.
OFFICERS.—Pres.,
E.
W. Moore; V.-P., F. H.
Goff; V.-P. 8c Gen.
Mgr.. W. H. Douglas; Treas., E. V. Hale; Sec., Fred S. Borton; Asst. Sec.
J. A. Currie, Willoughby, O — V. 102, p. 885, 1811; V. 104
and Treas.,
1489; V. 106, p. 2010; V. 107. p. 82. 401, 1191; V. 108, p. 1274; V. 109.
676.
,
(1) Cleveland Painesvilie & Ashtabula rr.—A trolley road.
En¬
tirely over private right of way. except through some of the villages, where
•ranchises expire In 1927.
■ *
Default—Committee.—Jan. 1 1917 and subsequent interest is in default.
of bonds with the Cleveland
The following committee is asking deposits
Trust Co.: A. G. Tame. H. D. Messick and
J. A. House, all of Cleveland;
V. 104, p. 256.
ORGANIZATION.—Incorporated In Ohio in
1902.
authorized by the Ohio P. U. Comm. to
mileage charge, effective Aug. 1 1918.
V. 107, p. 401.
Fare Increase.—In July 1918 was
Increase the
Date.
Interest.
Outstanding.
Maturity.
$1,000,000
$1,000.0001 1902
5 g J-J
1,000,000 July 1 1922
gold ($1,000)
cVcpt/Int. at Cleveland Trust Co., Cleve., Trustee.
Bonds.—No sinking fund and bonds cannot be called. See V. 75, p. 549.
STOCK AND BONDS—
Stock, $1,000,000 ($100)
First
mortgage
REPORT.—For years ending Dec. 31:
Years—
Gross.
Netl.aft.tax)
1919
$14,135
2,603
$191,207
162,794
1919
-
ROAD.—Operates 30 miles track
Oth. Inc.
$751
307
Int. &c.
$70,543
69,084
between Painesvilie and
Deficit.
$55,657
66,174
Ashtabula.
Put In full operation on July 30 1904.
70-lb. T and girder rail used. Track
standard gauge.
Connects at Painesvilie with the Cleveland Painesvilie a
Eastern RR. and at Ashtabula with the Pennsylvania & Ohio Ry.
OFFICERS.—Same
p.
as
Cleveland
Painesv.
&
East,
above.—V.
322; V. 98. p. 386; V. 104. p. 163 , 256; V. 106, p. 2010; V. 107.
p.
92.
401.
cleveland & eastern traction co.—a trolley road.
ORGANIZATION.—Incorporated in Ohio on May 18 1910 to succeed
the Cleveland & Eastern division (v.
90, p. 1613) of the Eastern Ohio Trac¬
plan in v. 89, p. 1541, 1596.
1915 stockholders voted to amend the charter so as to-permit
company to engage in electric light and power business. v. 100. p. 1509.
Fare Increase.—In July 1918 was authorized by the Ohio P. U. Comm. to
Increase the mileage charge, effective Aug. 1 1918.
V. 107, p. 401.
tion Co. per
On May 3
STOCK AND
BONDS—
Date.
Common stock ($100)
Pref stock, 5% n-c (J10C)
First
mortgage,
gold ($1,000)
Interest.
—
Outstanding.
$381,600
Maturity.
-i
465,865
Apr. '18 1%
$763,200,/ 1910
5 g J-J
763.200 July 11932
c*llnt. at Guardian Sav. 8c Tr. Co.. Clev., Trus.
Bonds.—Bonds subject to call, any or all, on any int. day, at 103 and
int.; began to draw int. Jan. 1 1912.
V. 91, p. 336.
Dividends.—The first
none
June 1 1919
1920, but were extended to Feb. 1 1923.
The
part at par and int. on any int. date.
Gross.
Year—
Nov.
on
upon
EARNINGS.—For calendar years:
This issue originally matured Aug. 1 1920, but was extended to Feb. 1 1923
The Ohio Cent. Trac. Co. 1st 5s originally matured
The
30 days
1923 at 7%.
be called
1186.
1919
at
7%.
may
The Elyria & Oberlin 6s of 1897 fell due Aug. 1
extended to Aug. 1 1922.
The Norwalk Gas & Elec. 1st 6s
105 and int.
1917 but were
p.
V. Ill, p. 389.
Outstanding.
Maturity
$4,236,000
2,412,000
945,000 April 1 1927
consol. bonds
Ill
extended bonds are red. all or in
p.
STOCK AND BONDS—
Common $7,500,000 ($100)
Pref $2,500,000 5% cum ($100)
extended to Aug. 1 1920 and again to Aug. 1
originally matured April 1
extension.
The
were
Ohio Central Traction Company
notice at
a
has also been grated.
[Vol.
RAILWAYS
1915.
since.
div.
on
the preferred
In 1916 and 1917. 3% each.
stock—H%—was paid in
April, 1%:
In 1918. Jan. 1%;
OCT., 1920. |
ELECTRIC
EARNINGS.—For calendar years:
Year—
Cross.
Net (aft. Taxes).
1919
$298,724
246,807
*1918
(1)
Int.
$109,176
67.017
Dividends.
$38,160
38,160
$9,317
19,540
OFFICERS.—Pres.. H. P. Mcintosh; V.-P., Horatio Ford; Sec. and
Robt. D. Beatty: Treas.. O. A. Taylor.
OfTIce. 708 Belmont
19
924; V. 107,
p.
p.
p* 1509: v* 101« P- 1627; V. 102, p. 437;
Aug. 3 1906 and Is
a con¬
Ry.
Operates on private
right-of-way except three miles In Lorain and Elyria, on which franchises
run
until
March 1943.
The $200,000 6% notes due Jan. 1 1920 were
paid off at maturity out of
current funds and funds of the company.
Compare V. 109, p. 2357.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock $2,000,000 ($100)
Lorain St Ry 1st M $750,0001
CLEVELAND
&
CHAGRIN
FALLS
RY.
CO.
over
Receiver.—In Jan. 1918, the receiver, who had been In
charge of the pro¬
perty since July 1917, was discharged.
In
Jan.
1918
30,000 (par;
capital stock
10)
was
STOCK AND BONDS—
reduced
Date.
from
Interest.
$300,000
(par $100)
Outstanding.
$25,000
Stock. $30,000 ($10)
Clev & Ch Falls 1st M$300.-/
to
Maturity
1910
6 g J-J
251.900 Jan
1 1930
000 g ($100 & $500) —c*Unt. at Guardian Sav. & Tr. Co.,
Clev., Trus.
Bonds.—Subj. to call
any or
all
on any
In treasury.
Int. date at 102H and Int.; $48,100
$2,000,000
1899 5 g M-N
550,000 Nov 1 1949
gold ($1.000)
___c*.tf/Int. at Guaranty Trust Co.. N. Y.. Trustee.
First consoi mtge $2,000,000 f 1906
5 g J-J
See text July 1 1936
gold guar $1,000)—Int. at Citizens' Sav. & Trust Co., Cleveland,
I
Trustee, or Agency In New York,
Bonds.—Of the $2,000,000 cons, bonds, $750,000 are reserved for
prior
dens and $750,000 for extensions, &c.
They are guar., prin. and int., by
endorsement by the Lake Shore Electric Ry.
REPORT.—For calendar
Exp.
Tax. Net Earns.
Int.Paid.
Surplus.
$354,040
$264,089
$89,951
$56,453
$33,498
1918
288,980
199.628
89,353
57.108
32,244
Passengers carried in 1919, 5,326,398, against 4.273,220 in 1918.
ROAD.—Operates
Year—
Gross.
Net (aft. Taxes).
Int.
$23,555
23,292
$15,114
15,114
Surplus.
$8,441
8,178
ROAD.—Operates 12.01 miles of line between Cleveland and Chagrin
Falls.
Standard
gauge.
60 and 70-lb. T rail.
OFFICERS.—Gen.
Mgr., Robert D. Beatty; Pres., H. P. Mcintosh;
V.-P., Horatio Ford; Sec. & Treas., C. A. Taylor.—V. 99, p. 1909; V. 105,
p. 715; V. 109, p. 676.
LAKE
SHORE
ELECTRIC
(2)
The
Sandusky
Fremont
&
Southern
Ry.
•
ORGANIZATION.—Incorporated
In Ohio In April 1906.
Is operated
part of main line of Lake Shore Electric Ry. between Cleveland and
Toledo.
Lake Shore Elec. Ry. owns entire stock.
Private right of way.
as
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock, $2,000,000
—Owned by the Lake Shore Electric Ry.—
First
mortgage. $2,000,000, f 1906
5 g J-J
$645,000 July 1 1936
gold ($1,000), guar—.c*tfilnt. at Citizens Sav. & Trust Co.. Cleve.,
[
Trustee, or at Agency in New York.
Bonds.—Are guaranteed, prln. and Int., by endorsement, by the Lake
Ry.; not subject to call.
See V. 83, p. 1099.
RY.
Shore Elec.
ORGANIZATION.—The Lake Shore Electric Ry. was Incorporated on
Sept. 25 1901 under laws of Ohio as a consolidation of the Lorain & Cleve
land Ry., the Sandusky & Interurban Ry., the Sandusky Norwalk & South
era Ry. and the Toledo Fremont & Norwalk RR.
V. 73, p <784.
About
half the road is built on private right of way.
In Nov. 1917 the city of
Lorain granted a new franchise to the co. and its subsidiary, the Lorain
St. RR., which was rejected on the ground that the fare rate of six tickets
for 25 cents was insufficient for profitable operation. On Mar. 22 1918 the
Lorain St. RR. obtained a new 25-year franchise which provides for a
straight 5-cent fare, and on Mar. 27 1918 a 25-year franchise was granted
to the Lake Shore Elec. Ry.
In Jan. 1920 the Norwalk City Council
granted the co. a new 25-year franchise.
V. 110, p. 167.
Controls the Lorain Street RR. and the Sandusky Fremont & Southera
Ry.. which see below
Also controls the People's Light 6c Power Co. and
the Bellevue Illuminating & Power Co.
On Aug. 1 1918 purchased 50%
of the capital stock of the Ohio State Power Co.
(The other 50% is owned
by the Amer. Gas & Elec. Co. of N. Y.)
In 1907 made contract to supply
power to the ToledoFindlay& Fostoria and several other roads. V.85,p. 1646
In 1910 charter was amended so as to transform the then existing 5%
cum.
pref. stock of $3,000,000 into $1,000,000 6% cum. 1st pref. ana $2,non cum
2d pref. stock; V. 90, p. 698.
At the same tlmt
accumulated dividends on the old pref. stock (part of which had been
issued later than the rest) were adjusted.
V. 90, p. 1170,1296; V. 91, p.790
In Jan. 1915 the articles of Incorporation were amended to enable the com
000,000 5%
pany
miles of track between Elyria. Lorain and
24 cars.
V. 105, p. 2543; V. 109, p. 2357.
24.77
Standard gauge.
years:
_$106,442
95,568
1918
years:
Cal.Yrs.— Grosslnc.
1919
Beach Park.
EARNINGS.—For calendar
„
on
solidation of the Lorain St. Railway and the Avon Beach 6c Southera RR.
Entire stock owned by the Lake Shore Elec.
401; V. 109, p. 676.
ORGANIZATION.—Incorporated in Ohio on Feb. 18 1910 to take
the Clev. & Chag. Div. of the East. Ohio Trac., sold Feb. 5
1910.
are
Lorain Street Railroad Co.—A trolley road.
ORGANIZATION.—Incorporated In Ohio
$71,016
Gen. Mgr..
106,
33
Surplus.
ROAD.—Operates 40 miles of track from Cleveland to Gh&rdon. Burton
and Mlddlefleld. Ohio.
Standard gauge.
60-lb. T rails.
Sld&A CleXSlanJ» £tr~V- 100'
Y.
RAILWAYS
to sell and distribute electricity for light, heat and other
REPORT.—For calendar years;
Calendar
Gross
Year—
1919
1918
1917
Expenses and
Income.
—
—
Taxes.
$126,209
111,071
98,615
ROAD.—Operates
a
Interest
Net
Earnings.
$98,370
93,877
72,906
Balance,
Deficit.
Paid.
$27,838
17,193
25,709
$32,250
32,250
32,250
$4,412
15,057
6,541
line from Sandusky to Fremont, 20 miles.
14 cars.
-V. 83, p. 97. 1099.
CLINTON, IOWA.
CLINTON
RY.
STREET
ORGANIZATION.—Incorp. In Iowa Feb. 4 1891.
Under Its charter
a street railway, light, power and heating busi¬
ness.
Franchise covering main street of the city is perpetual; others
expire 1935 and 1938.
In Oct. 1920 the Clinton City Council denied the company's application
for authority to raise fares to 7 cents.
V. Ill, p. 1660.
the co. is auth. to conduct
Date.
STOCK AND BONDS—
Stock $1,000,000 ($100)
First mortgage $400,000
($1,000)
purpose#
Interest.
Outstanding.
Maturity.
$596,600 See text.
gold} 1906
5 g A-O
400,000 Mar 31 1926
c*/Int. at Illinois Tr. & Sav. Bk., Chic., Trustee
In certain localities.
The Ohio Utilities Comm. has from time to time authorized the company
to sell additional gen. mtge. bonds, aggregating $428,000, which have
been issued and are held in treasury.
On Feb. 10 1915 increased authorized
supplemental mortgage provides that beginning April 1 1918 a fund of 2%
of tne bonds outstanding or retired by this fund be established to be usea
amount of 1st
and interest.
pref. stock from $1,000,000 to $1,500,000.
Fare Increase.—In July 1918 was authorized by the Ohio P. U. Comm. te
Increase the mileage charge, effective Aug. 11918. Y. 107, p. 402. On Aug. 9
1920 the Sandusky City Comm. auth. the co. to increase fares to 6 cents,
tickets to be sold at 5 for 25 cents.
The co. had applied for a 7-cent fare.
V.
Ill,
P.
for
bonds of this issue outstanding but $384,000 were held in the sinking fund
as of Jan. 1 1920 and these, under the extension
agreement, were canceled,
leaving $1,115,500 to be extended.
STOCK AND
BONDS—
V. 109,
p.
2263.
Interest.
Date.
Common, $4,500,000 (par $100)
1st pf$1,500,000($100)6% cum
2d pf $2,000.000($100)5% n-c
First cons mtge, $4,000,000
1903
Maturity
1913, incl. (except 5% la
1912).
In 1913 the stockholders advanced a substantial sum for construc¬
tion, &c., and waived dividends while this sum was being paid out of earn¬
ings; *41,400 was so paid in 1916.
EARNINGS.—For year ending
Dec. 31 1919,
OFFICERS.—Pres., O. H. Young; V.-P., R. O. Langan; Sec., A. L.
Schuyler; Treas., C. O. Coan; Gen. Mgr., Bernard Bohnsen.—V.Ill,p.1660.
COFFEYVILLE, KAN.
I
THE UNION TRACTION CO.
ORGANIZATION.—Incorporated Sept. 28 1906 In Kansas.
Bonds.—Of the $4,000,000 first consols, $2,250,000 are reserved to retire
prior liens; $90,000 have been canceled; $4,000,000 of the general mortgage
5 per cents are reserved to retire the first consols and $745,000 (of which
$428,000 have been certified by the trustee and are in treasury) for exten
sions and
impte. at 80% of cost.
Neither Issue is subj. to call. A sinking
fund for the first consols, commenced Jan. 1 1909, retiring $10,000 per
annum until 1914; from 1920 to 1922, inch, $30,000 bonds per annum are to
be canceled.
The L. & C. bonds are callable since July 1 1917 at par and
int.
The car trust certificates of 1917 mature $17,600 each July 1.
N.
bonds
are
a
first
lien
on
the
division
between
Toledo and Norwalk: the L. <fc O. bonds are a first lien on the road between
Cleveland and Lorain; and the 1st consoi. bonds a first lien on all ofche*
lines and also a 2nd mtge. on the divisions noted above; $384,500 have been
canceled through operation of sinking fund.
Dividends.—Initial
amount
(V.
div. on 1st pref., 1H%. paid Oct. 1
1910; same
quarterly to and including April 1915.
July 1915 dividend omitted
p. 47).
None since.
101.
REPORT.—For years ending Dec. 31, excluding Lorain Street RR..
Sandusky Fremont & Southern Ry. and light and power companies.
Year—
Gross.
Net (aft. Tan.)
Oth. Inc.
Interest.
Surplus.
1919
$2,067,225
$577,180
$339,801
$237,379
1918
1,734,OGO
472.860
343,50.3
Cherryvale and Parsons.
Fare Increase.-rJn Sept. 1918 was auth. by the I.-S. O. Comm. to in¬
fares between Parsons and Coffeyville, and Nowata, Okla., and
crease
Intermediate points to not to
exceed 2.6 cents
STOCK AND BONDS—
Date.
per
Interest.
1,419,750
465,026
334,577
Secgnd mortgage
ROAD.—Operates 180 miles, extending from Cleveland to Toledo and
Sandusky, and from Sandusky to Norwalk; also city lines in Sandusky;
standard gauge; 70 to 100-lb. rails.
Through line from Clev. to Toledo
was
opened for business
about Aug.
26,
1902.
In addition owns the
Sandusky Fremont & Southern. 20 miles, and the Lorain Street RR., 24.77
miles, making a total of 216.77 miles.
114 passenger, 7 baggage, 52 tfork
and freight cars.
Total, 173.
i
OFFICERS.—Pres.. E. W. Moore, Cleveland and N. Y.: V.-Ps.. F. H.
Goff and A. Lewenthal, Cleveland; V.-P., Sec.-Treas. & Gen. Mgr.. F. W.
Coen, Sandusky, O.; Asst. Sec. & Asst. Treas., M. E. White.—V. 106.
p. 2116. 2345: V. 107. p. 402: V. 108, p. 2123; V. 109, p. 2263; V. 110
G>. 167, 261. 2192; V. Ill, p. 792,
Maturity.
$500,000
gold/ 1907
-
tf 1911
100,000
6 A-O
Bonds.—1st M. bonds are red. ann. by lot at 105 and
Dividends.—A div. of 6% was
Interest
Oct 1 1921
since Jan.
EARNINGS.—For year
paid during the fiscal year end. June 30' 13.
ending Dec. 31 1917, gross, $382,059; net, after
taxes, $100,034; Int. on bonds, &c., $73,905; surplus, $26,129.
ROAD.—Operates 67 miles of road, of which 9)4
m.
In Coffeyville, 7
allies In Independence and 50H miles of Interurban road between Coffey¬
ville, Independence, Cherryvale and Parsons.
70-lb. T rails.
Purchases
power from the Kansas Gas & Elec. Co.
OFFICERS.—Pres.. D
H. Siggins. Warren. Pa.;
Treas., Sam Q. Smith.—V. 105, p. 2544; V. 107, p.
Sec.. H. A. Slgglns;
119-4. 2377; V. 109,
2264.
p.
'COLORADO SPRINGS, COL.
COLORADO
SPRINGS
&
INTERURBAN
RY.
^
City.—In July 1920 the co. was reported to be ready to offer
entire system and plant to the city of Colorado Springs and
payment city bonds bearing 4% interest.
V. Ill, p. 188.
Offer
to
sell
the
to
Passengers carried in 1919. 6.636,910; in 1918, 5,947,163.
Earnings for 1919 of the People's Lt. & Pow. Co. were: Gross $26,557:
after taxes, $7,007; and of the Bellevue 111. & Pow.
Co., gross,
$37,725: net, after taxes, $14,245.
V. 107, p. 1194.
Outstanding.
1912, through s. f.; $53.000 have been retired.
S. f. of 10% of net earnings
annually began In 1911.
Int. at Nat. City Bk., N. Y.; Commercial Nat.
Bank, Chic., and Tradesmen's Nat. Bank, Phila.
See V. 88, p. 1003*
130,449
net,
mile.
See text.
5 J-J
947,000
Jan 1 1937
($1,000), sinking fund._tftWarren (Pa.) Trust Co., Trustee.
Stock. $500.000
First mtge, $1,000,000,
129,357
1917
In Dec.
1916 was granted a permit to do business in Oklahoma.
Franchises expire
1957.
Road is on private right of way except In Coffeyville, Independence,
-
6c
$210,898; net, after
ROAD, 6cc.—About 16 miles of single track equivalent and 32 single truck
cars.
Current Is purchased from the Clinton Gas & Electric Co.
Inter¬
urban cars from Davenport enter to centre of city over the company'!
tracks under traffic agreement.
J-J
--
F.
gross,
In 1918, gross, $183,698; net, after taxes, $67,438.
taxes, $71,641.
gold
Lien.—The T.
to 105
See text
2,000,000 No div. yet
1.660.000 Jan
1 1923
c* tf■ Int. at Citizens' Sav. & Tr. Co.. Cleveland
Trustee, or Trust Co.. of America, N. Y
Genera]
1903
5 g F-A
mtge,
$7,000,000
2.255.000 Feb
1 1933
($1,000). gold
c* tf Int. at Citizens' Sav. & Tr. Co., Cleveland
Trustee, or company's agency In N. Y.
Lorain 6c Cleveland 1st, gold
1897
6 g J-J
k
750,000 July 1 1927
Sav.
&
Trust
Co.
($1,000), $1,000,000tf Interest at Citizens
Cleveland, or company's agency in N. Y
T F & N 1st M $1,500,000 g
1900
6H g J-J
1,115,500 Jan
1 1925
guar ($500. $1,000) —c*tfV
lint, at Union Trust Co.. Detroit, Trustee.
Car
trust
certificates, / 1917
6 J-J
123,200 See text
$176,000
1 Guardian Savings & Trust Co., Clev., trust.
_
up
$4,500,000
1,000,000
Q-J
....
Outstanding.
renewals, betterments, &c.t or for the purchase of bonds
V. 104, p. 862.
A
Dividends.—Paid 6% dividends from 1907 to
792.
The Toledo Fremont & Norwalk RR. 1st M. 5s due Jan. 1 1920 were
extended to Jan. 1 1925 at 6H %, the extended bonds being red. at par and
int. on any int. date on 60 days' notice.
Originally there were $1,500,000
($1,000).
Bonds.—Callable at 105 and int. on any int. date on 90 days' notice.
accept
in
ORGANIZATION.—Incorporated in Aug. 1902 as a consolidation of the
Colorado Springs Rapid Transit Ry. and the Colorado Springs & Suburban
Ry.
Effective June 8, 1919, was auth. by the Colo. P. U. Comm. to in¬
crease fares from 5' to 6 cents.
V. 108, p. 2433.
In Oct. 1920 the co. was
auth. to raise fares to 7 cents cash or 8 tickets for 50 cents.
V. Ill, p.
1566
The consolidated company has issued
$1,500,000 stock, of which
$500,000 pref.
Bonds ($1,000, 5% M. S., due Sept. 1932, Central Trust
Co., N. Y., trustee) auth. and issued, $1,500,000.
EARNINGS.—For
$120,022.
ROAD.—Owns 41 y2
Its
cal.
year
$487,547; net, after taxes.
after taxes, $48,509.
1919, gross,
In 1918, gross, $367,476; net.
miles of track.
In 1919 added 35 one-man to car;
equipment.
V.-P.. W. Lennox: Sec.. Wm. Lloyds
,C.SChamberlin.-V. 110. p. 2387; V. Ill, p. 188, 492, 1566.
OFFICERS.—Pres., D. H. Rice;
Treas
ELECTRIC
34
columbus,
columbia, s. c.
COLUMBIA
ELECTRIC CO.
railway,
RAILWAY, OAS &
ORGANIZATION.—Does
entire street
the
lighting.
Bjwer and gas business in Columbia, 8. C.—Name changed from Columbia
lectric Street Ry., Light & Power to the above on May 15 1911.
V. 92.
1374.
Is a consolidation on July 11905 of the Columbia Electric St. Ry..
Lt. & Pow. Co. and the Columbia Water Pow. Co,
The first-mentioned
was organized in So. Caro. Jan. 6 1892 and was a consolidation of the Colum¬
bia Elec. & Suburban Ry. Co. and the Congaree Gas & Electric Co.
Ac¬
quired the Columbia & Eau Claire Electric Ry.
Owns all the stock and
bonds ef the Columbia Gas Light Co., which Is also leased.
Operates under
rights granted by State of So. Caro. (which owns the city streets), expiring
Dec. 16 1941.
Gas franchises granted by State and city franchises covering
all departments are without limit of time.
In June 1912 acquired Parr Shoals Power Co. (stock $2,000,000 com., all
owned, and $300,000 pref.). which on May 30 1914 placed in operation its
new hydro-electric station (present capacity 18,000 h.p.; ultimate capacity
p.
30.000
of
h.p.) on the Broad River, near Alston, S. O., 27H miles northwest
Columbia, supplying the requirements of the controlling co. (V. 95, p.
V. 98. p. 154. 1844.)
Offer to Sell.—See V. 109, p. 2356; V. 110. p. 561.
1919, the company put Into effect a flat 7-cent
cash fare, tickets being sold at 4 for 25 cents, i V. 109, p. 477.
The $100,000 Col. Canal Co. 6% bonds originally matured Jan. 1 1919
but were extended for two years.
V. 109, p. 1272.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$2,000,000 JulyT9.H%
Common, $2,000,000 ($100)-894.000 July'20. 114
Pref., $1,000,000. 6% cum.I
Q-J
($100)
1911
5 J-J
2.685,000 July 1 1936
First mortgage, $7,600,000,
1122:
Fares.—Effective July 1
...
c*tf Int. at co.'s office or at Chemical Nat. Bk.,
,N. Y. Columbia Trust Co.. N. Y.. Trustee
pfd stk $300,00*)
7%
300,000
Parr Shoals P 1st mtge, $3,-/ 1912
5 g A-O
3.000,000 Apr 1 1952
000,000 ($1,000), goldc* tf 1 Columbia Trust Co., Trustee.
Col Canal Co mtg, $200,000*1
6%
100.000
Jan. 11921
Bonds.—Of the outstanding first mtge. bonds of 1911. $60,000 are deposi¬
ted to guar. int. on Canaf C o. 6s.
Of unissued bonds, $200,000 are reserved
to retire Canal Co. bet da and $4,497,000 for improvements, additions, ac¬
quisitions, &c., under certain restrictions.
Bonds are subject to call on any
int. date at 105 and int.
Since July 1 1912 an amount equal to 1 % of bonds
out must be expended for impts., &c., against which no bonds may there¬
after be issued, and since Deb. 15 1916 a further 1% for retirement of
bonds.
See V. 93, p. 229.
Parr Shoals Power bonds are guaranteed,
p. & 1., by end., by the Columbia Ry., Gas & Elec. Co.
Sinking fund of
14 of 1% semi-annu'ally of bonds out from 1918 to Jan. 1 1952, lncl.
They
are subj. to call at 105 & int. on 60 days' notice.
Int. payable in N. Y.
Dividends.—First div. on pref.—3%—paid July 1 1906; Jan. 1907, 3%.
None to July 1911, when accrued divs. were paid up in full; 114% paid
quar. since to and including July 1920.
Initial div. on common—14%—
paid Oct. 1917.
In 1918. Jan., ^%; July, 14%: Oct., y3%.
In 1919.
Jan., 14%: July, 14%•
None since.
gold
($1.000)
Parr Shoals P
EARNINGS.—For calendar
Year—
years:
Pref.Divs. Com.Divs. Surplus.
Interest.
*Net.
Gross.
$1,458,685
$187,508 $249,532
$53,640 $30,000df.$145,664
1918
1,562,152
315,624
239,321 * 53,640
40,000 defl7,337
*
After deducting operating expenses, taxes, int. on Parr Shoais bonds
and divs. on Parr Shoals pref. stock.
1919
ROAD.—Operates 25-15 miles of track; 50 cars.
Owns 2 power plants
18.000 h. n.
Bd. & Treas., E. W. Robertson; Pres.,
F. II. Knox; 1st V.-P., Henry Parsons; Sec., L. F. Pearce; Gen. Mgr.,
V. 8. Wright.—V. 106, p. 924, 929; V. 109, p. 477, 1272, 2356; V. 110,
p. 561, 969.
with a total capacity of about
OFFICERS.—Chairman of
columbus,
ga.
.
and $121,300 of the pref. stock
(out of $350.0Q0) of the Columbus Power
Co.. and all the stock of the Columbus RR. Co.; also guarantees tne bonds
of the Columbus Power Co. as to principal, sinking fund and interest.
The above companies do the entire electric railway and lighting, gas and
power business of Columbus and vicinity and the adjoining towns of
Phoenix City and GIrard, and a wholesale power business in Columbus,
Newnan, Hogansville, Lagrange, Lanette, Trimble, Grantville, Moreland
and West Point.
Principal franchises perpetual.
The freight lines are
leased to the Seaboard Air Line Ry. for 50 yrs. from Oct. 17 1901 at a rental
of $7,500 per ann.
$115,000 pref. stock is held by the Public Service
investment Co.
In July 1919 brought out $1,750,000 3-year 6% notes,
proceeds being used to retire an issue of $1,500,000 6% notes due at that
time, and to provide for the company's floating indebtedness, amounting
to $170,000, incurred for additions and extensions.
V. 108, p. 2629.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$1,500,000
Pref, 6% cum, $1.500,000(1100)
J-J.
1,200,000 July'20, 3%
1st coll M, $1,500,000. gold] 1903
5 g A-0
758,000 April 1 1933
($1 000)
c*ntf|Int.at Old Colony Tr. Co., Boston. Trustee.
3-year notes $2,500,000 gold] 1919
6 g J-J 1
1.750,000 July 1 1922
($100, $500 & $1,000)_c*tf (Int. at Commonw'th Tr. Co., Boston, trus.
Com. $1,500,000 ($100)
Columbus Pow 1st M
$4,000,-]
1906
3,712,000 April 1 1936
5 g A-0
000
gold guar
c*tf lint, at Commonw. Tr. Co., Boston, trustee.
Bonds.—The bonds of the Columbus Electric Co. are subject to call as ?
whole at 105 & int.
$53,000
are
in treasury.
An "improvement fund" of
per annum of outstanding bonds commenced in
1905.
The 2-year
notes are callable as a whole on any int. day on 30 day's notice at 100 and
2%
V. 105, p. 817.
(or in part for
sinking fund of 1 % of
for sinking fund and
int.
whole
The Columbus Power Co. bonds are callable as a
sinking fund) at 110 and Int. on any int. day.
A
bonds out began April 1 1912.
$288,000 purchased
canceled.
Bonds are guar., p. & L, and s. f., by
Columbus Electric Co.
Notes.—Callable as a whole at 100 and int. on any int. date upon 30 days'
notice.
Should the company place any further lien or encumbrance on
the property, it will secure
amount of first mtge. coll.
this issue of notes equally.
The outstanding
trust bonds will not be Increased unless the
proceeds are used to retire notes of this series.
V. 108, p. 2629.
Dividends.—First div. on pref. stock, 3%, was paid Jan. 19Q7: 3% has
been paid semi-annually since to and Including July 1920,
PROPERTY.—25.9 miles of equivalent single track, of which 5 miles
leased
to
Seaboard
Air
Line
until
1952.
48
cars;
2 steam locomotives
(leased to S. A. L. Ry.).
Standard gaugo.
Controls hydro-electric plants
with a capacity of 18,900 k. w., and a steam plant of 9,000 k. w. capacity.
EARNINGS.—For 12 months ending June 30:
June 30
Gross
Net, after
Interest
Sinking &
Balance,
Year—
Earnings.
Taxes.
Charges,&c.
Impt. Fds.
Surplus
1919-20
$1,482,470
$643,553
$369,780
$273,773
1918-19__
1,199,899
550,244
356,075
194,169
OFFICERS.—Pres., Harry H. Hunt; Sec.,
Geo.
A. Peirce; Treas..
Henry B. Sawyer; Gen. Mgrs., Stone & Webster Mgt. Assn., Boston.—
.V. 105, p. 817; V. 106, p. 395; V. 107, p. 1919; V. 108, p. 2629.
_
10% over the actual value at time of purchase
Valuation.—On Mar. 18 1918 the co. submitted the
columbus,
ind.
INDIANAPOLIS COLUMBUS & SOUTHERN TRACTION CO.
1912 was leased for 999 years to the Inter-State Public
Service Co., a subsidiary of the Middle West Utilities Co., at a rental of 5%
on the capital stock, or $92,000 a year above all taxes.
V. 95. p. 680.
See
Inter-State Public Service Co. in V. 95. p. 1745; V. 96. p. 1157\
ORGANIZATION.'—Formerly the Indianapolis. Greenwood & Franklin
RR., which company was incorporated in Indiana in 1895.
Name changed
above in Jan. 1903. In Sept. 1912 increased its auth. stock to $1,840,000
as
STOCK AND BONDS.—
Stock. $1,840.000
Firtt mortgage,
gold ($1,000)
Date.
Interest.
Outstanding.
$1,840,000
Maturity.
See text
$1,000,000] 1903
5 g F-A
932,000 Feb 11923
c*tf lint. atCommercial Trust Co., Phila., Trust.
Bonds.—Cannot be called.
$68,000 are reserved for exten. and impta.
See V. 76, p. 654; V. 82, p. 1212.
ROAD.—Operates 62.38 miles of track between Indianapolis, Franklin
and Columbus and Seymour, of which 3.86 miles belong to Ind. Trac. & Ter.
Co.
Standard gauge.
60-lb. T rail.
Mostly private right-of-way.
It
connects with Indianapolis & Louisville Elec. Ry., thus forming a through
line from Indianapolis to
Louisville.
OFFICERS.—Pres.. Wm. G. Irwin: V.-P.. L. I. Sweeney; Sec. & Treas.
Hugh Miller, all of Columbu*. Ind.—V. 86, p. 421; V. 95, p. 680.
at not exceeding $15,000 per mile.
results of its appraisal
(ordered in June 1915 in connection with light and power rates) to the
Ohio P. U. Comm., placing a valuation of $7,105,809 on the properties
operation (except in railway and district heating).
V.
In May 1918 the engineers of the Ohio P. U. Comm. placed
reproductive value of only $6,240,046 and a present value of $0,725,963
upon the same property.
V. 106, p. 2345. The physical property of the
co. (exclusive or allowance for going value, franchises and other intangible
values) has been appraised at $20,158,680.
V. 107, p. 1287.
Fares.—In Feb. 1920 the City Council passed an ordinance providing for
used In electrical
106, p. 1344.
a
(1)
a
6-cent cash fare with 5 tickets for 25c. during the next 2 years; (2) a
for 25c. during the remaining 4 years of the
5-cent cash fare with 6 tickets
co's. franchise; (3) 10-cent fare on owl cars; (4) free
further details see V. 110, p
561, 658, 1526.
universal transfers.
1916 $3,500,000 1st ref. & ext. sinking
E. W. Clark & Co., Phila., and Kissel, Kinnicutt
fund bonds were sold to
& Co., N. Y., to take up
In Jan.
For
notes and $1,439,000 underlying liens on the power and light
and provide for improvements, extensions, &c.
V. 102, p. 521.
1918 issued $3,000,000 2-year 7% notes, part of the proceeds
to pay off $677,000 1-yr. notes due Aug. 1 1918 and. the re¬
mainder for impts., &c.
V. 107. p. 1287.
'
Note Extension.—The co., having found it impassible, because of the
disturbed investment markets, to refund the $2,392,000 secured 7% due
$1,200,000
properties,
In July
being used
July 1 1920, requested the holders to agree to an extention of their notes for
two years to July 1 1922 at 8%.
V. Ill, p. 73.
Acquisition Probable.—In May 1920 it was reported that the co. was
negotiating for the purchase or control of the Columbus Delaware & Marion
Elec. Co.
V. 110, p. 2192.
_
Date.
STOCK AND BONDS—
Common, $6,080,000
Outstanding.
Interest.
—
-
pref stock $3,145.000
4%
"A" pref, $1,720,000
—"B" pref, $4,200.000
—
1st ref & ext sink fd M $25,-f 1915
6 g A-O
000,000 g ($l,000)...c*tf jlnt. at E. W. Clark
Prior
I
co.
[
Phila.,
at
Maturity.
$6,041,230 Nov '17,1H
13,000 Apr *18,1%
1.634,918 Apr 18,114
4.188,125 Feb *18.1 H
4-500,000 Oct
1
1940
& Co.. Phila., or office of
Columbus.
Girard
Trust
Co..
Trustee.
General Mortgage
Cent Mar 1st mtge, $500,000,1
6%r
2,700,000
t
----------
1902
5 g J-J
325,000 Jan 1 1922
c*_ntf] Interest at N. Y. Trust Co., N. Y.t Trustee.
1892
5 g J-J
3.000.000 July 1 1932
c»_ntfUnt.atco.'s office&E.W. Clark & Co., Phila.
(Columbla-Knlck. Trust Co., N. Y., Trustee.
Orosstown
1st
mtge, gold,
1893 ,.5j? J-D
572,000 June^l 1933
($1,000) $572,000 ..c*_ntf Columbia-Knlck. Trust Co., N. Y., Trustee.
1899
4 Q-J
Col Ry 1st consol mtge, $7,3.132.000 Oct 1 1939
000,000 ($1,000). g.c*.ntf Interest at Union Savings Bank & Trust Co.
gold ($1,000)
St Ry
1st.
gold ($1,000)
$3,000,000, f
_
Bonds
are
redeemable since
Oct 11914 at 105 and int.l
of Cincinnati, Trustee, at E. W. Clark &
Co., Philadelphia, or at company's office.
2-yr secured notes gold $3,000,000
1918
8%
2,392,000 July 1 1922
Stock.—The prior pref. 4% stock is issuable only In exchange Tor the
$3,145,000 Columbus Ry. Co. 4% bonds and Is exchangeable any time
prior to Oct. 1 1924 Into 1st ref. and ext. sink. fd. 5% bonds on the basis
of $850 of bonds for $1,000 of stock.
As of Sept, 1 1919 $13,000 stock had
been Issued in exchange for Columbus Ry. bonds.
Bonds.—Of the First Refunding and Extension sinking fund bonds,
..
$6,659,000 are reserved for underlying liens, $1,175,000 are pledged as
security for the 2-year notes, and the balance is reserved for improve¬
ments, extensions, &c., at 85% of cash cost or fair valuation, which¬
ever is less, under certain restrictions.
Callable at 105 and interest on
any interest date on 60 days' notice.
Penn. State tax refunded on 60 day's
uotice.
Sinking fund of 1% per annum of bonds outstanding began
Oct. 1 1920.
The $2,700,000 gen. Mtge. 6s are pledged as collateral under
the 2-year notes due July 1 1920 (extended to July 1 1922), Central Market
bonds are redeemable at any time at 110 & Int. on 60 days' notice.
Sinking
fund of 5% of gross earnings began in 1907.
$194,000 held in sinking fund.
The Crosstown St. Ry. mtge. was for $2,000,000 but was closed at $572,000.
Int. payable at Columbus and E. W. Clark & Co., Phila.
Columbus Ry.
Co. mtge. has been closed.
$3,428,000 bonds were issued thereunder,
of which $283,000 were canceled.
$13,000 had been exchanged for 4% prior
pref. stock to Sept. 11919Are callable at 105 and int. on any interest date.
Notes.—The notes are secured by a pledge of $2,500,000 1st ref. & ext.
5% bonds and $2,700,000 gen. mtge. 6% bonds.
Any addi¬
ext. bonds certified must be substituted under this pledge
int. date on 30 days notice.
They originally bore int. at 7% and fell due July 1 1920 but were extended
for two years at 8%.
V. Ill, p. 73.
Dividends.—An initial div. of 114% was paid on the Series "A" pref. stock
sk. fd. mtge.
tional ref.
for gen.
&
mtge. bonds.Are red. at par on any
„
.
April 1 1914; same rate quar. to and lncl. Apr. 1918; none since. On Series
"B" initial div. of 114% paid in May 1914 and same rate quar. since to and
lncl. Feb. 1918.
None since.
On prior pref. initial div. of 1% was paid in
Oct. 1915; same rate quar. to and incl. Apr. 1918; none since.
On common.
Initial div. of 114 % was paid in May 1914 and same rate quar. to and lncl.
Nov. 1917. Feb. 1918 div. passed (V. 106, p. 498).
None since.
REPORT.—For years ending Dec.
1919.
Revenue passengers
Transfer passengers
Total passengers
Kilowatt hours sold
—.
_
71,962,308
Number of customers—
126,235,678
32,878
Railway
oper. revenues.
Power, light, heat, &c_.
Total
gross
revenues.
Net, after taxes
Interest, &c,...
Lease.—In Dec.
-
Clark & Co., Phila.,
Columbus interests.
ORGANIZATION.—Incorp. in Ohio Nov. 1913 to succeed the Colum¬
bus Traction Co. (incorp. Dec. 26 1906 as successor to the Central Market
St. Ry., sold under creditor's bill in Feb. 1906, subject to the $500,000
bonds) and took over the Columbus Ry. Co. and the Columbus Edison Co.
as per plan in V. 96, p. 1839.
The leases between these two cos. and the
Columbus Ry. & Lt. Co. were then canceled.
The Columbus Lt., Ht. & P.
Co. was acquired in Jan. 1915.
See "Elec. Ry. Section" for Jan. 1915.
Owns and operates the city street railway system of Columbus and sub¬
urban lines to Marble Cliff and Westervilie, and the commercial electric light
and power systems of the city and vicinity.
Franchises tor 20.84 miles
of railway are perpetual; others expire In 1919, 1926 and 1942.
The fran¬
chises provide for 8 tickets for 25 cents and universal transfers.
Two of
the light and power franchises are perpetual; others expire in 1926 and 1928.
In June 1917 a new franchise for 25 years was granted on the Wester¬
vilie line, providing for a zone system with a sliding scale of fares ranging
from 2H to 6c. per zone.
(In July 1919 fares were increased from 514 to 6c.
per zone. V. 109, p. 270.)
The company is to be allowed to earn 6% on
its then existing investment (fixed at $350,000), and 8% on future capital
invested. - The public may purchase the Westervilie line at an increase of
New Management.—In Jan. 1919 Messrs. E. W.
withdrew from the management of the co. in favor of
Col
COLUMBUS ELECTRIC CO.
ORGANIZATION.—Incorporated in Maine on Feb. 6 1903 and owns all
the stock of the Gas Light Co. of Columbus; the entire common stock
ohio.
& LIGHT CO.
COLUMBUS RAILWAY, POWER
electric
(Vol. 111.
•
RAILWAYS
Prior pref.
Pref. divs.
Pref. divs.
Common
2,481,528
2,520,576
$5,002,107
$1,222,649
31 (1918 report in V. 108, p. 573).
54,455,621
11,131,350
67,498,715
15,737,432
* 1916.
66,650,414
15,924,643
65.586,971
69.825,731
29,975
$2,119,163
2,145,322
83,236,147
56,391,893
27,942
$2,287,097
1,737,089
82,575,057
40,772,239
25,081
$2,248,918
1,288,482
$4,264,486
$1,151,417
$695,457
$4,024,186
$1,080,257
$558,589
$3,537,400$1,432,275
$516,373
1918.
1917.
520
520
520
Series "A"_.
None
98,094
Series "B"_.
None
None
209,155
98.691
209,155
(3^)226,542
76,218
209,170
None
stock (4%)
dividends
None
(5)300.765
$148,191 def.$13,240
$329,229
renew.,depr.,&c.
ROAD, &C.—149.34 miles single track, including 14.21 miles operatt-d
under contract.
349 passenger, 2 freight and 53 other cars.
5 steam
pOwer stations with 55,000 k. w. capacity.
OFFICERS.—Pres., Chas. L. Kurtz; V.-P., Samuel Ungerleider; V.-P.
& Treas., Norman McD. Crawford; Sec. & Aud., P. V. Burington; Asst.
Sec. & Asst. Aud., Herbert M. Burington: General Supt., O. C. Slater—
V. 108. p, 573, 878, 1511. 1610. 1721. 1822: V. 109, p. 270. 774, 887. 981^
1079; V. 110, p. 561, 658, 1186. 1289, 1526, 2192; V. Ill, p. 73.
Bal. for
..
RAILWAY^ZO.
OHIO ELECTRIC
ORGANIZATION.—Incorp. May 16 1907 in Ohio.
On Aug. 31 1907
purchased the Lima <fc Toledo Traction Co.. which owned the line from Lima
Dec. 31 1909 purchased the Lima Elec. Ry. & Lt. Co..
which operates in the city of Lima.
On Aug. 31 1907 leased the Ft. Wayne
Van Wert & Lima Trac., with a line from Lima, O., to Ft. Wayne, Ind.
Also acquired by lease the Indiana Col. & East. Trac., which company
assigned to it the leases of Col. New, 4c & Zanesville Elec. Ry. and Daytou
to Toledo, and on
OCT., 1&20 |
ELECTRIC
RAILWAYS
35
&
^^ern,Tra£' The last named was terminated in April 1920. V. 110,
2193.
On Feb. 1 1908 purchased the Cine. Northern Trac.
(subse¬
quently dissolved) and acquired from that
company its lease of Cine. Day.
& Tol. Trac. (sold under
foreclosure June 30 1917), now under control
of and operated by Cincinnati &
Dayton Trac. Co. (which see).
Including city lines in Zanesville, Newark, Lima and other
points, operat¬
ing mileage is 533.04 miles extending from Zanesville on the east via Newark
^
p.
Columbus
to
(including line from Columbus to Orient and Buckeye Lake
and Newark to Granville
branches), thence through Springfield to Dayton,
where connection is made with the Cincinnati &
Dayton Trac. Co., and
from Dayton to Union City, where connection
is made with Union Traction
Co. of Indiana for Munde, Anderson and
Indianapolis, Ind., and from
Dayton to Richmond, lnd., where connection is made with T. H. I. & E.
Traction to Indianapolis,
extending north from Springfield through Urbana
and.Bellefontame to Lima, and from Lima to
Defiance; to Toledo, O.. and
Ft. Wayne, Ind.
Electric light and power business is conducted in cities of
Zanesville, Lima and West Alexandria and steam heating plant in Lima.
In May 1913 was granted
authority to Issue $3,5UU,0U0 2d mtge. bonds,
was retired.
This was accord¬
provided $5,000,000 of outstanding stock
ingly done.
V. 96. p. 1365, 1840: V„.97. p. 299.
New Lease.—See Ft. Wayne Van Wert & Lima
Trac. Co.
on
page.
subsequent
Fare
Increases—In July 1918 was auth. by the Ohio P. S. Comm. to
increase passenger fares effective Aug. 1 1918. V.
107, p. 402.
In Oct. 1918
the I.-S. C. Comm. auth. an increase to
2M cents per mile between points
on the co.'s lines.
V. 107, p. 1385.
Effective Aug. 15 1918 was auth. to
raise freight rates 25%.
Compare V. 106. p. 2649.
Effective Sept. 3 1920 the co. was auth.
by the Lima City Council to
charge a 7-cent fare, with 9 tickets for 50 cents and free transfers.
V. Ill,
p. 693, 1472.
Effective Sept. 9 1920 fares in Sandusky were raised from
5 to 6 cents.
V. Ill, p. 1084.
Interest in Default.—No int. has been paid on the 1st & ref. 5s since
July
1 1915.
No int. has been paid on the 2d. & gen mtge. 5s since Dec. 1 1918.
Operating Managers.—In April 1920, Day & Zimmerman, Phila., took
over the management of the road in the interest
(it is said), of Drexel &
Co., Phila., and the bondholders' protective committee.
Rather than
foreclose the mtges. on which int. is in default
(see above), the bankers
entered the active management of the
company, through Day & Zimmer¬
man, in complete understanding with Pres. W.
Kesley Schoepf, and the
interests which he represents.
V. 110, p. 1643.
STOCK AND BONDS—
Date.
Common, $8,000,000 ($100)—
Preferred, $6,000,000 5% non\
cum ($100)
1st & ref. mtge. $15,000,000
,191$)
gold ($1,000)
c*tf Int. at
2nd & gen mtge $5,000,000,
1913
g ($100) ($500) ($1,000)-tf Int. at
Equip notes Series "B"$130,- I 1911
OoO gold ($1.000)
c*tflint, at
Interest.
Outstanding.
$8,000,000
3.000,000
5 g J-J
Maturity.
...
for substitution of 1st & ref. mtge.
or
bonds of 1910
exchangeable
at par
8 weeks' notice.
Bonds to be delivered for purposes of impts., as
ap¬
proved by Public Service Commission of Ohio or other governmental
authority.
No sinking fund.
Mtge. covers all properties and leasehold
estate, subject to underlying lien.
$430,000 are held in treasury,
Series
"B" equip, notes are 1st Mtge. on 26 cars.
They mature semi-ann.
($7,000 Jan. 1 and $6,000 July 1) from Jan. 1 1912 to July 1 1921, incl.
Series "C" equip, notes are 1st mtge. on 43 cars and mature
$6,000 semiann.
beginning Dec. 1 1912.
Series "D" equip, notes mature $5,000
semi-annually beginning Sept. 1 1914.
Series "E
equip, notes are divided
into Series "E 1" and Series "E 2," amounting to
$100,000 and $30,000,
respectively, the former having priority.
They mature $5,000 s.-a. until
Jan. 1 1928, when $15,000 is payable s.-a. to
maturity.
All issues of equip,
notes are guar., p. & i., by end. of Ohio El.
Ry.
EARNINGS.—For years ending Dec; 31:
Cal. Year—
Oross.
Net.
Oth.Inc. Int.&Tax. Rentals.
Bal.,Def.
1919
—$4,098.088 $1,370,437 $12,667 $745,824 $842,740 $205,461
1918
4,098.088
1,197,415
14.577
714,092
837,532
339,632
EQUIPMENT.—187 passenger cars, 13 trailers, 91 freight and express.
55 work cars, 8 snow plows, 7 miscellaneous cars.
OFFICERS.—Pres., Charles Day; V.-P., J. H. McClure; Sec. & Treas.,
F.
A. Healy;
Gen. Mgr. H. G. Gilpin.
General offices, Interurban
Bldg., Springfield, O.—V. 107, p. 604,- 1385, 1580; V. 108, p. 1165; V.
109, p. 776, 982; V. 110, p. 1643, 1849, 2193, 2292; V. Ill, p. 693, 1084,
on
1472.
(1)
Columbus Interurban Terminal Co.
Entire stock owned by Ohio Elec. Ry., which guar, bonds.
ORGANIZATION.—Incorp. In Ohio on May 24 1910.
Owns and
operates since Jan. 1 1912 passenger and freight terminal stations In Columb.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Stock $10,000 ($100)
First mtge $1,000,000
Maturity.
$1,000
goldl 1910
5 g J-D
433,000 June 1 1935
($500) guar p & i
c»tf/Int. at Cit. Tr. & Sav. Bk.. Columbus. Trust
Bonds.—Remaining bonds reserved for acquisition of additional real
estate, additions, impts., &c.
Not subject to call.
OFFICERS.—Pres., Dana Stevens; V.-P., J. H. Sundmaker; Secretary
& Treas., F. A. Healy.—V. 92. p. 1564; V. 93, p. 1532. 1599.
(2)
The Indiana Columbus St Eastern Traction Co.—A trolley road.
Leased to the Ohio Electric Rv
Aug. 31
1907
Latter company guarardivs. on pref. stock (the div. due Dec. 31
interest on bonds and 5%
and subsequent remain unpaid) and owns entire common stock.
ORGANIZATION.—Incorporated in Ohio on April 14 1906 and nan ac¬
tees
1915
quired the Dayton Springfield & Urbana Elec. Ry., the Columbus London
&
Springfield Ry., tbe Columbus Grove City & Southwestern Ry., the
Urbana Bellefontalne & Northern Ry., the Springfield & Western
Ry., tbe
Dayton & Northern Traction Co.
and about 12 miles of the Dayton &
Traction Co., extending from Greenville to Union
City on tbe
Has also acquired the Columbus <fe Lake
Michigan
steam road operating between Lima and Defiance, which bas been
converted into electricity.
Muncle
Indiana-Ohio State line.
RR.,
a
Leases the Columbus Newark & Zanesville Elec. Ry., which
company
had previously absorbed the Columbus Buckeye Lake & Newark Traction
and the Zanesville Ry. Lt. & Power Co.
This lease was assigned to
Co.
the Ohio Elec.
Ry. Aug. 31 1907.
The new general and refunding mortgage bonds
delphia Stock Exchange In February 1907.
V. 84,
of bonds, property, &c.. in V. 83, p. 37.
Favirrable
Tax
were listed on the Phila
p.
339.
Decision.—See remarks under Cincinnati
See description
Ry.
Interest in Default.—Interest due Nov. 1 1919 on the co's. gen. & ref.
mtge. 5s is in default.
The $500,000 Col. Lon. & Spg. 1st M. 5s, due Oct. 1 1920, had not been
taken up or extended up to time of going to press.
.
STOCK AND BONDS—
Common. $3,025,000 ($100)
Preferred, $1,000,000 ($100)
Gen and ref mtge (see text)
gold ($1,000)
c*tf
Col Lon & Spg 1st mtge, $1,-
Date.
Interest.
5%
1906
5 g M-N
Int. at Pa.Co.for
Outstanding.
Maturity
$3,025,000
1,000,000
See text.
6,650.000 May 1 1926
Ins.onL.&G.A.,Phlla.,Trus.'
1900
6 g A-O
500,000 Oct
1 1920
500,000, gold($l,000)c*ntf Int. at N. Y. Trust Co., New York, Trustee.
Day Spg & Urb 1st mtge.
1898
5 g M-N
750.000 Nov 1 1928
$750,000. gold ($1,000) ntf Interest at N.Y. Trust Co.. N. Y.. Trustee.
Bonds.—The gen. and ref. mtge. was originally for $12,000,000 but auth.
amount has been reduced to $10,000,000.
Of the remaining bonds $250.000 are treas. bonds deposited with trustee and are available for extens. &
impts. when net earns, are equal to 1H times int. charges on bonds out
and to be Issued; $1,250,000
are held to retire the underlying Hens given
in table above.
Tbe remaining $2,100,000 are reserved for future better¬
ments, improvements and extensions, and can only be Issued as follows:
$1,100,000 when net Income is equal to 1H times int. charges on all bonds,
including those to be issued, and $1,000,000 when net is equal to twice iDt.
charges, lncl. int. on bonds to be issued.
These bonds are subject to call is
ending Sept 30 1906.
See V 71.
The Day. Springfield & Ur¬
A sink, fund of 5% of gross
$206,000 in sinking fund Dec. 31 1919.
earnings began in 1903.
year
ROAD.—Columbus to Orient, Columbus through Springfield to Day¬
Dayton to Union City and Richmond, Ind., Springfield to Lima,
through Lima to Defiance, O.
Total miles of track (electric) owned, 277.15;
leased, 139.87; total, 417.02.
Standard gauge.
5 power houses. 231 cars,
ton,
OFFICERS.—Pres., Walter A. Draper; V.-P., J. H. Sundmaker; Sec,
and
Treas., F. A. Healy.—V. 85,
p.
600; V. 86,
p.
721; V. 87,
p.
37.
(a)
Columbus Newark & Zanesville Electric Ry. Co.—A trolley road.
ORGANIZATION.—Incorporated in Ohio on July 2 1902, and In April
1904 absorbed the Newark & Granville Street
Ry.
In June 1906 acquired
the Columbus Buckeye Lake & Newark Traction
Co., the preferred share¬
holders being given $500,000 in pref. stock for their
holdings.
Also took
over the Zanesv. Ry. Light & Power Co. and was then
leased on June 23
1906 to the Indiana Colum. & East. Trac. Co. for length of
franchise and
renewals thereof.
Rental Is Interest on bonds, an amount equal to 6% on
the preferred stock and $500 for
organization expenses.
V. 83, p. 625.
Private right of way from Newark to Zanesville;
franchises on other lines
expire 1925 to 1928.
Entire common stock is owned by Ohio Elec. Ry. Co.
Favorable Tax Decision —See remarks under Cincinnati 8treet
Ry.
Interest Payments.—The int. due Nov. 1 1919 on the co's.
gen. & ref.
mtge. was not paid until Feb. 1920.
V. 110, p. 561.
Compare V. 109,
1986; V. 110,
p.
p.
167.
May 1 1920 int. was paid when due.
& Ref. Mtge. 5's.—Chairman, R. M. Stinson; Alba
Simpler. Depositary: The Land Title & Trust
Deposits have been called for.
V. 109, p. 1986; V.
Committee for Gen.
B. Johnson and Claude A.
Co., Phila.,
110, p. 167.
Pa,
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$1,525,000
500,000
See text.
1904
1,250,000 Mch 1 1924
($1.000)
c*tfj Int. at Columbia Tr. Co., N. Y., trustee.
Gen & ref mtge, gold, $0,1906
5 g M-N
1.211,000 May 1 1920
250,000 ($1,000).
c»tf Int. at Girard Trust Co., Phila., Trustee.
C B L & N 1st mtge, $1,500,1901
5 g M-N
1,243,000 Nov 1 1921
000,gold ($1,000)
c*tf/Int. at Columbia Tr, Co., N. Y,. trustee.
Zanesville Ry, Lt & Pow 1st f 1902
5 g M-S
750,000 Mar 1 1924
ommon, $1,525,000 ($100)
Pf. 6% cum, $500,000 ($100)
1st mtge,
$2,000,000, gold
6 Q-J
5 g M-S
,
cons
mortgage,
$1,000,000{Int. at Cent. Tr. & S. D. Co., Cine.,
or
$1,000)! goid-.cHf
Trust Co. of America, New
($500,
Zanesv Elec 1st mtge,
Trustee,
York.
1899
7 g F-A
250.000 Feb 1 1924
Interest at International Trust Co., Boston,
$300,-
000, gold, subject to call
after 1903, $1,000 eachcntf
Trustee.
t
Bonds.—Of the $6,250,000 gen. & ref. bonds,
$3,493,000 are reserved to
retire prior liens and $1,546,000 for betterments and extensions.
They are
subject to call after 5 years at 105 and Int.
Under terms of this mtge., none
of the $750,000 1st mtge. bonds unissued can now be Issued.
The entire
Issue of Col. New. & Zanesv. 1st 5s can be called at 110 and int. on
any int.
date.
V. 80, p. 1234.
The Col. Buck. L. & New. bonds are subject to
call on any int. date at 110 and Int. on 3 months' notice.
Zanesville Ry.,
Lt. & Power bonds fell due Oct. 1 1912 but were extended to Mar.
1 1924.
$250,000 reserved to retire underlying bonds.
The Zanesv. Elec. 1st 7s
were originally 4s and fell due Feb. 1
1919, but were extended to Feb. 1
1924 at 7%,
V. 108, p. 1165.
.
Income
Account.—For
$263,669; bond
deficit for year,
ended
year
Dec.
31
1919:
int., $239,568; other deductions,
$977.
Income from lease,
$2,579; divs., $22,500;
ROAD.—Operates 95.85 miles of track from Columbus to Zanesville.
including the city lines in Zanesville, Newark and Granville and a branch
to Buckeye Lake.
Operates lighting and power plants In Zanesville.
Standard gauge; 60 and 70-lb. T rail and 90-lb. girder.
Also owns amuse¬
ment park on Buckeye Lake.
Owns and operates its Hebron power plant
with Its
natural gas.
own
OFFICERS.—Pres., W. A. Draper; V.-P., J. H. Sundmaker; Sec. and
Treas., F. A. Healy.
V. 109, p. 1986; V. 110, p. 167, 561.
(3) Lima Electric Railway & Light.—A trolley road.
Acquired by purchase by Ohio Electric Ry. Dec. 31 1909.
ORGANIZATION.—The company Is a consolidation completed Aug. 1
1900 of the Lima Ry. (Incorporated Nov. 5 1896) and the Lima Electric
Light & Power Co.
Was leased July 1 1905 to the Lima & Toledo Traction,
which lease was assigned to Ohio Electric Ry. Aug. 31 1907.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock. $5,000 ($100)
$5,000
2dc'n.(now 1st)mtg.$850,000,/ 1902
5 g A-O
350,000
Apr 1 1925
gold ($1,000)
c»tf(lnt. at Fidelity Trust Co., Buffalo, Trustee,
Lima Elec Ry & Light,
ref/ 1905
5 g M-S
900,000 Sept 1 1925
mortgage, $1,250,000. g_tf lint, at Girard Tr. Co., Phila., Pa., Trustee
,
Bonds.—The bonds of 1902 are a lion on the electric-light and
heating
plant, as well as on the railway.
Cannot be called before maturity.
$350,000 refunding bonds are reserved to retire prior liens.
ROAD.—Owns 10.91 miles of track, also a steam-heating plant (franchise
perpetual, operated In connection with the electric-lighting plant).
Con¬
tract ordinance for city lighting expires April 1919.
OFFICERS.—Pres.. Dana Stevens; V.-Ps., J. H. Sundmaker; Sec. &
Treas., F. A. Healy, Springfield, Ohio.—V. 81, p. 155, 1100.
(4)
Port Wayne Van Wert Sc. Lima Traction Co.—A trolley road,
ORGANIZATION.—On Mar. 1 1900 was leased, until expiration of fran¬
chises and renewals thereof, to Lima & Toledo Traction Co., which guaran¬
teed the interest.
V. 82, p. 691.
Lease was assigned to Ohio Electric Ry.
Aug. 31 1907.
The latter company
owns
all the
common
stock.
Incorpor¬
ated In Indiana and Ohio.
Road is entirely on private right-of-way
in towns, where It has 25 or 50-year franchises.
Favorable
Tax
Decision.—See
New Lease.—On Dec. 11 1916
remarks
a new
excep-
under Cincinnati
lease
was
Street Ry.
entered into between the
company and
lease provides
the Ohio Electric Ry. Co., canceling the previous lease.
This
rental payments as follows: (1) int. on mortgage indebtedness;*(2) $500 per annum payable semi-ann. for organization expenses; (3) $12,500
per year to be set aside for additions and betterments, provided same is
earned.
Such earnings shall be arrived at on the following basis: Gross
revenue less operating expenses, bond Int., $500
per annum for maintenance
of organization.
The balance to be considered net earnings.
As stated
above, $12,500 per annum is to be set aside for additions and betterments.
In case the net earnings shall exceed this
amount, which is accumulative,
such excess amount up to an additional $12,500 shall be
paid as dividends to
the pref. stockholders of the company.
Should there still be an excess after
the payment of this additional dividend, such excess shall be divided
equally
between the Ohio Electric Ry. Co. and the
pref. stockholders.
The prin¬
cipal consideration of this lease was the return to the company for cancella¬
tion of $500,000 par value of its pref, and
$500,000 of its common stock,
which arrangement has beenv carried out.
Interest
Street
earnings began with
p. 963.
$234,000 in sink, fund Dec. 31 1919.
bana bonds are subj. to call at 110 and Int.
See text.
4,200,000 Jan
1 1930
Fidelity Trust Co., Phila., Trustee
5g J-D
2,927,200 June 1 194 »
Fidelity Trust Co., Phila., Trustee.
5 g J-J
13.000
See text.
Fidelity Trust Co., Phila., Trustee
Equip notes Series "O"$120,-l 1912
5 g J-D
24,000
See text.
000 gold ($1.000)
cHf/Int. at Fidelity Trust Co., Phila., Trustee.
Equip notes Series''D" $100.-/ 1914
5 g M-S
35,000
See text.
000 gold ($1,000)
:tf lint, at Fidelity Trust Co.. Phila.. Trustee.
Equip notes *'E" $130,000/ 1917
6 g J-J
100,000
See text.
($1,000)
g.
c*tf (int. at Fidelity Trust Co., Phila., Trustee.
Stock.—Preferred is red. at 105 on 30 days' notice.
Bonds.—$3,250,000 1st & ref. bonds are reserved to retire prior Hens
($1,250,000 bonds of Lima El. Ry. & Lt. Co. and $2,000,000 bonds of
Ft. Wayne Van Wert & Lima Trac. Co.)
and $7,550,000 for additions,
betterments, &c.
Entire issue is subject to call on any interest day
at
105
and interest on
56 days' notice.
No
sinking fund.
The
2nd & gen. mtge. Issue is subj. to call on any int. date for
payment In cash
.
whole, but not in part, at 105 and Int.
The Columbus London &
Spring¬
field bonds may be called at 110 and Int.
A sinking fund on these bond-
of 5% of gross
in
Default.—The
co.
having failed to
pay
the int. due Jan.
1
1920 on its 1st Mtge. 5s the following committee was formed and has called
for
deposits:
.
Committee for 1st M. 5s.—Chairman, J. C. Neff; George IC. Johnson,
George deB. Greene, Thomas J. Walsh, A. C. Robinson, T. II. Atherton,
Secretary, 325 Chestnut St., Phila.
Depositaries: Fidelity Trust Co.,
Phila., and Peoples Savs. & Trust Co., Pittsburgh, Pa.
STOCK AND BONDS—
Date.
Interest.
Common, $500,000 ($100)
Pref. $500,000, 5% n-c
($100)
First
mtge, $2,000,000,
guaranteed ($1.000)
Outstanding.
$500,000
500,000
Maturity.
gold/
1905
5 g J-J
1,470,000 July 1 1930
c*llnt. at Fidelity Trust Co., Phila., Trustee$530,000 are reserved for extensions
Bonds.—Of the $2,000,000 bonds,
end improvements.
V. 82. p. 691.
Are not sublect
to
call
Income Account.—For year ended Dec. 31 1919.
Income from lease,
$74,000; bond int., $73,500; other deductions, $917; deficit for year, $417.
ROAD.—61.63 mliee of electric track from Ft. Wayne via New Haven.
Monroeville, Van Wert, Middlepolnt, Delphos and Elida to Lima.
Com¬
operation Nov. 15 1905.
Connects at Ft. Wavne with
Nor. Ind. Trac. and at Lima with the Ohio Elec. Ry.,
and forms part of through line from Ft. Wayne to Toledo, Dayton an tf
menced complete
the Ft. Wayne &
Columbus.
Standard gauge, 70-lb. T rails.
OFFICERS.—Pres.. Walter A. Draper: V.-P., Joseph Nicholson; 8ee.
and Treas., F. A. Healy.—V. 82, p. 691, 804; V. 83, p. 37; V. 110, p. 164
ELECTRIC
36
CINCINNATI & DAYTON TRACTION CO.
Organization.—Incorp. April 26 1918 with $1,250,000 auth. capital stock,
aa successor
to the Cincinnati Dayton & Toledo Traction Co., whose
properties were sold at foreclosure on June 30 1917 to the committee for the
$2,700,000 C. D. & T. 1st cons. 5s for $400,000, subject to $2,300,000
underlying mortgages.
Holders of about $250,000 undepoeited bonds will
receive about $148 for each $1,000 bond in settlement.
Has been auth. to issue $4,500,000 20-year 5% bonds to cover present
and future needs and provide for retirement of underlying bonds.
V. 106.
p. 2122.
Compare V. 106, p. 1461.
'■
Committee f»r C. D. A T. 1st Cons. 5s.—Leo J. Van Lahr, James M.
Button, Claude Ashbrook, Edgar Friedlander and Otto Armleder.
De¬
positary, Provident 8av. Bank & Trust Co., Cincinnati.
For statement by
committee, see V. 102, p. 436.
See also V. 102, p. 800.
Committee for Cine. A Flam. Elec. 1st 6s.—W. S. Hayden and E. V. Hale,
with Gardner Abbott, Sec., 1215 Williamson Bldg., Cleveland.
Deposl
tary, Citizens' flav.&Tr.Co., Cleveland.
Committee arranged to ad¬
vance as a loan ta depriving bondholders the amount of the unpaid coupon*.
Committee for S. 0. T. Co. Is* Cons. 5s.—-Chairman, R. M. Stinson,
Livingston E. Jones, G. M. Cummings, and Edward E. Newman. Sec.
Depositaries: Cleveland Trust Co. and Girard Trust Co.
The May 1
1919 interest had not been paid to Nov. 1 1919, at which time the period
of grace provided for in the indenture expired and as a result of this default
the committee requested the trustee to apply for a receiver and to file a
For details see V.109, p. 1986
bill of foreclosure.
rigs.—The Cine. & Ham. Elec. 1st mtge. 6s being in
Foreclosure Proce>d
default of prin. and int. from July 1 1918, the trustee
foreclosure jointly with the trustee of the overlapping
Southern Ohio Trac. 1st cons. 5s upon which the May
has brought suit in
mtge. securing the
1 1919 int. is in de¬
On Sept. 28 1920 a decision was rendered in effect
Southern Ohio Traction mortgage nor underlying issues cover
fault.
that neither
(1) the power
(2) the terminal from College Hill into Cincinnati: but only main
line from Dayton to College Hill.
Neither do the mortgages cover equip¬
ment.
Mortgagors can, if they elect, have a receiver appointed for the
property covered oy mortgage.
This leaves the eo in complete possession
•of power house, terminal and rolling stock.
A rehearing on error has been
asked
V. Ill, p. 1565.
Compare V. 109, p. 1179house,
Date.
STOCK AND BONDS—
Stock, $1,250,000
1st &
Interest.
-
1918.
Ref. Cons. Mtge
5%
Outstanding.
Maturity.
$1,250,000
(?)
-
1938
Underlying Issues—
Southern Ohio Trac 1st consf
1900
5 g M-N
1,350,000 May 1 1920
or at
goidc^i Int. at Cleveland Trust Co., Trustee,
$2,000,000 ($1,000),
(
($500) /
CI* & Ham Elec 1st g
Standard Trust Co., New York.
1898
i
400.000 July 1 1918
6 g J-J
$500,000, not subj to call... lint, at Cit. 8av. & Tr. Co., Cleve., Trustee
Dayton Tractien 1st M, gf 1896
5 g J-J
250,000 May 1 1920
($1,000), int guar
Clint, at Finance Co of Penn., Phila.. Trustee
Ham & Lindenwald El Tran)
1901
5 g J-D
250,000 Jufy 1 1922
1st M s f $240,000, g ($1,-/Interest at Cleveland Trust Co., Trustee
GOO), Int guar
c*f
Bonds.—None of the underlying Issues is subject to call
$2,000,000 South. Ohio Traction bonds, $650,000 are reserved to
& Ham. Electric bonds and Dayton Traction bonds.
Issue
Philadelphia Stock Exchange.
The Dayton Traction 5s matured
originally on Juiy 1 1916, but were extended to May 1 1920, but have not
yet (Oct. 1920) been paid.
The Cin. & Ham. Elec. 1st 6s due July 1 1918
had not been paid up to Oct. 1920 (see above).
The Ham. & Lind. Elec. Tran. bonds originally fell due Dec. 1 1911, but
arrangements were made at that time to extend them to July 1 1922. V. 93,
p. 1386, 1387Annual sinking fund of 5% on Ham. & Lind. bonds began
Dec. 1 1906, increasing 1% each year up to 1911.
$60,000 in sinking fund
Of the
[Vol. 111.
RAILWAYS
REPORT.—For year endthg Juue 30 1919. gross, $105,664: net profits,
taxes and misc., $5,118; net gain from operation, $15,392.
ROAD.—Operates 8.8 miles of track from Columbus to Gahanna, Includ¬
ing perpetual lease of 2.7 miles of tracks of the Columbus Ry
as terminal;
gauge, 5ft. 2 in.; 65-lb. T rail-—V. 92, p. 1498; V. 108, p. 784; V. Ill, p.1277
$20,510;
SCIOTO VALLEY TRACTION CO.—Third rail.
ORGANIZATION.—Incorporated in Ohio with a perpetual charter in
of way.
Franchises extend beyond maturity
canceled $2,000,000 mtge. of 1903 and made
1904.
Built on private right
of 1st mtge. bonds.
In 1908
mtge. for $4,000,000, which see below.
Stockholders voted Sept. 22
1908. authorizing $500,000 new 5% first preferred stock, which ranks
ahead of old preferred stock (V. 87, p. 481 and 615).
In Apr. 1916 the Ohio P. U. Comm. auth. the issuance of the remaining
$200,000 5% 1st pref. stock to acquire the entire stock of the Columbus
new
Depot Co., which was incorporated in 1912 in the interest of the company
build a terminal in Coluxnbus.
V. 102. p. 1626In Jan. 1917 the co. leased from the State of Ohio for 25 years at an annual
rental of $6,000 the bed of the old canal feeder from
Lockbourne to
Main St.. about 11 miles, for a new entrance Into Columbus.
Rate Increase.—On Aug. 20 1918 was auth. by the Ohio P. S. Comm.
to increase freight rates 25%.
Effective Jan. 1 1920 passenger fares were
raised from 2 cents to 3 cents per mile.
STOCK AND BONDS—
Date.
Interest.
Outstanding
Maturity.
Common. $1,800,000 ($100)
—
$1,800,000
See text
to
pref, $500,000, 5% cum...
Q J
489 300 Oct. '20,1%
Pref.^1,200.000. 5% cuml
1st lmortg7 $"4,000"OOOV gold f
Q-J
1,200.000 Oct. 20,1M
!st
1908
5 M-S
1,458,000 Sept 1 1923
($1,000)
c*tf lint, at Harris Tr. & Sav. Bk.,Chic.. Trustee.
Bonds.—Additional 1st M. bonds can only be Issued for 75% of cash ex¬
penditures, and for permanent extensions and additions to property, and
only when net earnings are twice the Int. charge on outstanding bonds and
those to be Issued. Bonds have a sinking fund of 1 % per ann. on bonds out
1913 to 1917; thereafter 2% per ann. $172,000 have been retired. They are
not subject to call. See particulars, bonds, property. &c
in V. 87, p. 679.
,
old issue of pref. stock were to accrue from
April 1 1906 were relinquished
oy shareholders, and 1st div. (IM%) was paid July 1906 and 1 \i% Oct.
1906 ( V. 82, p. 1440); in 1907 and since, 5% per annum.
On Oct. 15 1918
and again on Apr. 15 1919 divs. of 1% (payable in U. S. Liberty Loan 4X%
bonds) were paid on the common stock.
EARNINGS.—For 12 months ending Dec. 31;
Year—
Gross.
Net.
Int..tax..Ac. Pref. Divs. Survlus.
1919
$818,188
$220,111
$140,423
$84,465 def.$4,777
1918...
1,023,108
309,685
•
128,824
84,465
96,396
Passengers carried in 1919, 1,646,883, against 1,730,580 in 1918.
ROAD.—Operates 72 miles of track from Columbus to Lancaster and
from Columbus to Chillicothe.
Is operated by third-rail system.
Standard
gauge. 79-lb. T rail.
Within city limits of Columbus, company operates
over tracks of Columbus Ry., Pow. & Lt. Co
under oper agreement.
OFFICERS.—Pres. and Mgr., Frank A. Davis; V.-Pres
and Treas.
Edwin R. Sharp; Sec., A. O. Moorbaus, Supt., G Skinner —V. 87, p. 481
615. 679; V. 91. p. 871; V. 102, p. 1437, 1626; V. 107, p. 83.
Dividends.—Dividends
on
Oct. 1 1905, but amounts due Jan. 1 1906 and
retire CIn.
Listed
on
1 1920.
ROAD.—Owns 91.07 miles of
concord, n. h.
CONCORD STREET RAILWAY.—A trolley road extending from the
wards of Concord to Penacook.
Comprise*] 12.71 miles of track.
In June 1901 control passed to the Boston & Maine RR.. and In 1903 the
New Hampshire Legislature authorized the Concord & Montreal RR.,
which is leased to the Boston & Maine. *0 purchase the property and to
*8ue stock and bonds to pay therprnr
central
Oct.
Ashbrook; Treas., Lea J. Van Lahr; Gen.
Mgr., M. Ackerman; Aud., L. P.
Under management of the Wan en Bicknell Co.,
—V. 109, p. 1179, 1986; V. Ill, p. 1277,1565.
Longon.
Cleveland, O.
(THE) COLUMBUS DELAWARE & MARION ELECTRIC CO.
Probable Sale.—In May 1920 it was reported that negotiations were under
for the purchase or control of this co. by the Columbus Ry.. Power &
Light Co. V. 110, p. 2192.
ORGANIZATION.—incorp. in Ohio June 14 1917 to take over the
way
properties of the Columbus Delaware & Marion Ry., sold under foreclosure
oa June 11
1917, subject to underlying mortgages aggregating $1,533,000
(which, however, were not assumed by the O. D. & M. Elec. Co., the rights
of such bondholders being neither enlarged nor diminished).
Owns and
operates the central station electric light and power business in Marion, the
street railways in Marion and Delaware, and the interurban railroad between
Columbus. Delaware and Marlon.
Also furnishes electricity to the vil¬
lages of Prospect, Radnor, Greencamp and Caledonia.
Over 76% of the
interurban
Columbus
track
over
is
on
tracks
Franchises contain
private right of way.
or
no
5 cents to 6 cents.
Has entrance to centre of
the Col. Ry., P. & L. Co., 4.09 miles.
burdensome restrictions.
Fare Increase.—In Aug.
1920 the co. was auth. to increase fares from
See also V. Ill, p. 1471.
V. Hi, p. 791.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
$700,000
725.000
June 1937
Flret & Refunding Mtge $7.-1 1917
5%
1.342,000
300,000 ($1,000)c/CJeveland Trust Co., Trustee.
O D & M Elec RR. 1st mtgej 1901
5 g M-N
289,000 May 1 1921
$1,000,000gold ($1,000)-C*[Int. at Cleveland Trust Co., Cleve., Trusl
tee, or Bankers Trust Co. in New York.
Col Nor Ry Pow & Equip. lst\ 1904
5 g M-S
213,000 Sept 1 1934
M (closed) gold ($l,000)-_cjlnt. at Guaranty Trust Co., N. Y., trustee.
Marlon Ry, L & P 1st mtge I 1904
5 g J-J
30,000 July 1 1924
$300,000 gold ($l,000)-_c*\lnt. at Guaranty Trust Co., N. Y., trustee.
Pref. stock is non-taxable in Ouio, N. Y., N. H. and Conn.
Red. all or
part, at $115 and divs.
Additional pref. stock cannot be issued without
tht consent of the majority of the prer. stock, unless the net earnings avail¬
able for divs. thereon are double the requirements on the pref. stock issued
Common $1,000,000 ($100)
Pref 7% cum $1,000,000 ($100)
and
of
No stock having priority can be auth. except with consent
prof, stock,
Bonds.—$540,000 of the First & Ref. M. bonds are reserved to retire
underlying bonds.
Additional bonds may be issued for 80% of the actual
cost of additional properties and permanent extensions, additions, improve¬
ments or betterments, but only under certain conditions.
Sinking fund of
1% of outstanding bonds annually began Jan. 1 1920.
Red. at 102 and
■int. on any int. date upon 30 days notice.
Int. is also payable at Bankers
Trust Co., N. Y. City.
Sinking fund retires $5,000 Col. Nor. Ry., Pow. &
Equip. 1st 58 annually on Jan. 1.
—Ann. require, for— BalforDep.
EARNINGS. Operating
xOperating
Year ending—
Bd.,Ac.,Int. Pref. Div. Com.Slk.,Ac
Revenue.
Income.
1919
$848,972
663,190
1918
♦Tvef.
stock
$186,705
151,605
$98,492
98,699
2 1917,
outstanding only since July
$47,712
45,500
but shown
$40,501
7,406
ere for
comparison,
x After depreciation.
ROAD, &c.—53 miles of single track equivalent; 26 city and 8 interurban
cars, 4 combination interurban passenger and baggage cars
4 freight and express cars, 11 freight box car trailers, 18 flat, dump and work
cars, and 2 motor snow plows. Has a complete electric distribution system
In Marion and a steam power station at Stratfcr
capacity 2,800 k.w ,
and one at Marion, capacity 1,750 k.w.
OFFICERS.—Pres., Eli M. West; Sec., Treas
!Aud., W. H. David¬
son; V.-P. & Gen. Mgr., A. F. Van Deinse.—V. 104, p. 2641; V.. 105, p. 72.
180, 1898; V. 106, p. 715; V. 110, p. 2192; V. Ill, p. 791. 1471.
passenger
COLUMBUS NEW ALBANY & JOHNSTOWN TRACTION
trolley road.
CO.—A
ORGANIZATION.—Incorporated In Ohio on May 4 1899.
In May
1905 canceled old mtge. for $200,000 and made the new mortgage In table
below.
V. 80. p. 2399
Franchises are for 25 years.
On Feb. 15 1919 a decrease in capital stock from $600,000 to $575,000
auth. and out¬
standing to $175,000. Compare V. 108, p. 784.
In Sept. 1920 the co. filed
a notice decreasing its capital from $575,000 to $550,000.
V. Ill, p. 1277.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturt
Common. $400,000 ($100)
$400,000
175,000
Preferred. 6% cum, $175,000
•was
effedted, the pref. stock being reduced from $200,000
($100)
mtge,
First
($500 and
1905
5 g J-J
I
None. Jan
1 1925
$450,000, gold
1,000)—ntf Prov. Sav. Bank & Tr. Co., Cine., Trustee.
n.
y.
SOUTHERN NEW YORK POWER & RAILWAY CORPORATION.
ORGANIZATION.—Incorp. in New York in July 1909 as the Otsego &
RR., succeeding the Oneonta & Mohawk Valley RR. (V. 89,
Name changed to above in July 1916.
In 1917 acquired control
Heat & Power Co., Deposit Electric Co., Hartwick
Power Co. and Southern New York Power Co.
In addition to operating an electric interurban railroad the co. serves
electric light, heat and power in 24 cities and towns with a population in
excess of 50,000.
The railroad franchise is perpetual and others are per¬
petual or extend beyond the maturity of the bonds.
Valuation.—In 1918 the property, after deducting over $1,000,000 for
Herkimer
411;.
p.
of the Colliers Light,
depreciation, plus recent construction, was appraised at $2,430,000.
In
P. S. Coram, to execute
May 1918 was auth. by the N. Y.
a
mtge.
the Equitable Trust Co., N. Y., as trustee, to secure $5,000,000 6%
10-vear 1st M. bonds and has issued thereunder $952,000 bonds which were
to
exchanged for $1,085,000 outstanding bonds of the old issue.
Subse¬
quently $48,000 additional were issued upon the acquisition of a like amount
of capital stock of the Southern N ew York Power Co.
Proceeds received by
the latter were used in the acquisition of bonds of the Deposit Electric Co.
Remaining bonds are to be issued from time to time for acquisitions and
extensions.
V. 106, p. 1578, 2230.
The pref. stock was brought out in Feb. 1918 at par with a bonus of
20% in common stock.
V. 106, p. 715, 822.
Rates.—In Jan. 1919 the N. Y. P. S. Comm. fixed the maximum fare
on the co.'s lines outside of Oneonta at 4 cents per mile for cash and ticket
fares and 3}4 cents for mileage book rates.
V. 108, p. 270.
Date.
STOCK AND BONDS—
Q-J
proposed.
of 75%
cooperstown,
electric track, connecting Cincinnati with
Dayton, incl. Germantown, MfcJHealthy and College Hill branches and the
Hamilton city lines. Carries freight and express.
OFFICERS.—Pres.. J. M. Hutton: V.-P., O. Armleder; Sec., Claude
Common $774,900 ($100)
Pref cum $500,000 ($100)
First
Interest.
7 Q-J
6%
$5.000,000/
Mortgage
($100, $500 & $1,000)
Maturity.
$774,900
500,000 Oct '20, \ M
Outstanding.
1,000.000
_c*tflint, at Equitable Trust Co., N. Y., Trustee.
reported outstanding, $125,000 is held by the
Equitable Trust Co. of N. Y., which has agreed to waive all divs. thereon
and also not to sell any part of it until earnings equal to 2 times the div.
requirements on the total amount outstanding.
If such earnings do not
accrue before Jan. 1 1923 the trust co. agrees to surrender this stock to the
co. for cancellation, without receiving any compensation therefor.
Addi¬
tional pref. stock may be issued only when net earnings applicable to pref.
divs. are at least twice the pref. stock div. requirements
Pref. stock is
free of normal Federal income tax and is tax exempt In N. Y. State.
V.
Stock.—Of the pref. stock
.
106. p. 822.
Bonds.—Call, at 105
funded
in
on any int. date.
Tax-exempt in N. Y.t tax re¬
Pa., and normal Federal income tax of 4% paid by co.
V.
108, p. 2123.
EARNINGS.—For years end. Dec. 31
(incl. So. N. Y. Pow. Co.):
Oth. Inc. Bond Int., Ac. Bal.,Sur.
$409
$56,984
$70,582
1918
211
56.552
37,982
ROAD.—Operates 62.04 miles main and 4.63 miles second track, 50
miles being on private right of way, between Oneonta, Cooperstown, Rich¬
field Springs and Mohawk, from which point it operates over the N. Y.
State Rys. to Utica, 15.10 miles, and to Herkimer, 1.40 miles.
Total
operated, 83.17 miles.
Rails 60 to 70 lbs.; 22 passenger and 5 freight cars;
1 locomotive; 4 snow plows; 2 service and 26 other cars.
Has a 2,500 k.w.
hydro-electric power plant, a combined 500 k.w. hydro-electric and steam
plant and 2 steam plants with a combined capacity of 1.750 k.w.
An addi¬
tional 750 k.w. steam turbine was installed in 1919.
Also owns 70 miles of
transmission lines.
A new transmission line from Colliers to Walton and
Gross.
Net (aft. Taxes).
$493,192
410,974
$127,157
94,323
Cal.Yrs.
1919
—
Deposit is planned which would enable the co. to shut down the 250 k.w.
plant at Walton.
OFFICERS.—Pres., Jos. B. Mayer; V.-P. & Gen. Mgr., C. A. Graves
Sec.. James L. de Rosset: Treas., H. R. Skirving.—V. 106, p. 2230
V. 107, p. 83, 1921; V. 108, p. 270, 1512, 2123.
steam
corning, n.
*
y.
CORNING & PAINTED POST STREET RY.—A trolley road.
ORGANIZATION.—Incorporated Dec. 11, 1894.
Commenced opera¬
1895.
Control changed hands in 1904.
V. 80. p. 162.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
tion Nov. 1
Stock. $100,000 ($100)
-
1st mortgage, $100,000
The bonds fell due originally
$100,000 1905-06.4%
1896
5 J-J
100.000 Jan
1 1936
in 1916 but were extended for 20 years.
EARNINGS.—For cal. years: Gross
Year—
Net (after
Earnings.
Taxes).
$77,684
73,712
$26,820
26,645
Other
Interest,
Income.
Rents, Ac.
$2,374
875
Balance,
Surplus.
$12,922
$16,271
10,703
16.84S
ROAD.—Owns 5.9 miles of track from Corning to Painted Post: 21 cars.
OFFICERS.—Pres., F. D. Underwood; V.-P. & Treas., David Bosnian;
Sec.. J. E. Packer, New York; Compt., A. L. Sorensen.—V. 80, p. 62.
1918
1917
Oct., 1920.1
ELECTRIC RAILWAYS
On Sept. 30 1917 purchased the
CORTLAND, N. Y.
COUNTY TRACTION.—Trolley.
ORGANIZATION.—la a reorganization on June 22 1901 of the Cortland
& Homer Traction, sold at foreclosure on
Apr. 23 1901.
In June 1905 ab¬
ly controlled.
Furthe public.
Carrie*
.
passengers,
_8TOCK AND BONDS—
Date.
Stock, com, $320,000 ($100)— —i
Interest.
Outstanding.
Maturity.
$320,000
■
7
—.
.1901
4 g A-O
180.000 April 1 1921
Flrstjntge, $180,000 ($500), J County Say. Bk. & Tr. Co., Scranton. Pa.
■
^
gold..
_
—c*{
Trustee.
Int. at co.'s office. No sink, fd
on 6 months' notice.
Can be called
I
■
„
^^^^J^00'000' 8/1905
($500 and
.
5gF-A
320,000 Aug
1 1935
ctlnterest at Empire Tr. Co.. N. Y., Trustee,
$2,000,000—J 1907
5J-D
105.000 June 1 1957
■
lint, at Equitable Tr. Co., N. Y., Trustee
_Bonds.—Of the $500,000 Issue of 1905, $180,000 are reserved to retire
$1,000)—
1st A ref mtge,
_
.
__
prior liens.
..
They
_
subject to call at 105.
are
'
ROAD.—Operates 16.18 miles of track (not Including sidings and turn
between
outs)
Cortland, Homer. Little York and Preble, and between
Cortland and McGrawvllle.
Has 33 cars.
^.EARNINGS.—For fiscal
year ending Dec. 31 1918. net. from operation
$22,229; other income (lighting dept., &c.), $40,899; bond, Ac., int., taxes,
$33,682; surplus, $29,446.
OFFICERS.—Pres., Edwin Duffey; V.-Ps., D. W. Van Hoesen
Brewer; Treas. & Gen. Mgr., G. H. Garrison.—V. 81, p. 507.
and
I
COVINGTON,
KY.
CINCINNATI NEWPORT & COVINGTON LIQHT &
TRACTION
CO.—A trolley road.
ORGANIZATION*—Incorporated under the laws of New Jersey
on
March 11 1902 and purchased all the stock of the Union Light, Heat &
Power Co. of Covington and of the Cincinnati Newport A Covington Rail
way.
V. 74, p. 576.
aolidate all the roads
Dallas Interurban Terminal Associa¬
tion, which has a modern fireproof eight-story passenger terminal and
office building In the business district of Dallas, and assumed its notes.
The terminal facilities have been leased for 20 years to the three interuroan
lines entering Dallas.
The terminal was opened for service
Sept. 1 1916.
Franchise.—The franchise permits a return of 7% on the property value,
fixed at $7,561,749 (on July 31 1920 the figure was
put at $8,863,005) and
provides for: (a) an interurban not less than 30 miles in length, from some
outside point into Dallas, work to be begun within six months from the time
of
operation under the ordinance, and line to be put in actual service within
18 months from that date unless prevented by causes which could not have
been reasonably anticipated; (6) an interurban not less than 30 miles in
length from some outside point into Dallas, work to begin within six months
from the time when the gross earnings of the lines east of the Trinity
River, excluding interurbans, shall bear the same proportion to the then
property value as did the gross earnings to property value in 1913; (c) an
expenditure of $1,000,000 In altering, reconstructing, rearranging and Im¬
proving the properties originally put in operation by the company, the city
to receive $200,000 damages for failure to comply with tne agreement
(see program of improvements, Ac., in V. 105, p. 2271); (d) Fares— (1)
cash fare 5 cents, 22 tickets for $1; (2) cash fare 5 cents, six tickets for 25
cents; (3) cash fare 5 cents, seven tickets for 25 cents; (4) cash fare 5 cents,
8 tickets for 25c.; said schedules to be applied as follows: Whenever after
paying or providing for the return on property value, the repair, mainten¬
ance and depreciation reserve and the accident reserve are not less than
normal and the surplus reserve exceeds normal by 50%, the fares shall be
reduced to the next lower schedule than the one then in force, and if after
operating six months the surplus reserve exceeds normal by 30% the fares
shall again be reduced to the next lower schedule, and further reductions
shall be made at six months intervals until the surplus reserve shall amount
to less than 10% In excess of normal.
Whenever the surplus reserve is
reduced to one-half of normal, the grantee may at six months intervals
put In force the next higher schedule than the onp then in force until the
surplus reserve equals 90% of normal.
(Effective June 25 1920, the Dallas
City Commission auth. the co. to charge a straight 6-cent fare.
V. Ill,
p. 73.)
Children under 12 and students under 17 years of age shall be
carried for half-fare.
For further details see Y. 105, p. 1419.
In Sept. 192Q
,
E. H.
_
37
The latter was organized in ls92 to buy up and con
the Kentucky side of the river opposite Cincinnati
on
Lease.—The Union Lt., Ht. A Power Co. and the Cine. Newp. A Gov.
it was announced that the co. would seek a new service-at-cost franchise
from the city of Dallas at the municipal elections to be held in April 1921.
V. Ill, p. 1277.
■
■
By. (both controlled through stock ownership by the Cine. Newp. A Cov.
Lt. A Tr.) were leased from Apr. 1 1907 to Columbia Gas A Electric Co.
(incorporated in Ohio) for 45 years.
The lessee guarantees interest on
bonds and 4H % per annum on preferred stock. On common, dividends are
to be 3% for first year, increasing >4 % each year until 0% is reached, which
is to be the rate thereafter., See V. 84, p. 449, 930; also terms In V. 84.
p
1489. under Columbia Gas A Electric.
Under agreement ratified in July
mi K
a-r+c
TT«1^vm T ,
—
—
—
1915 the exts. and add'ns to Union Lt., Ht. A P. Co.'s property are to be
paid for by the issue of new 50-year 5% bonds (see below) instead of by
sale of stock of the Cincinnati company ae provided under the old agree¬
ment.
V. 101, p. 694.
The co. will lease jointly with the Western Union
Telegraph Co. for a period of from 20 to 30 years, the Dixie Terminal Bldgs.
upon their completion.
(Expected to be about Jan. 1921.)
The, controlled Cincinnati Covington A Erlanger St. Ry., which was incorp. Sept. 1899 with $250,000 stock (shares $50), to build an extension to
Erlanger, 7% miles (about 3 miles completed) has also been leased to the
The $1,000,000 7% notes due June 15 1920 were extended at the same
rate, date of maturity indeterminate.
It is understood that these notes
Columbia Gas A Electric.
Franchise Decisions.—On Oct. 19 1914 and Nov. 17 1915 Judge Cochran
In the U. S. District Court held that the franchise granted by the City
of Covington In 1882 to the South Covington A Cincinnati Street By.
was In effect perpetual.
See V. 99, p. 1214.
On Jan. 6 1915 the U. 8.
Notes.—'The Dallas Term. M. notes have been assumed by the Dallas
Ry. Co.
Red. as a whole at any time at 101 and int.
The co.'s secured
Supreme Court declared void, as an unlawful interference with InterState commerce, the section of the Covington street railway ordinance
relating to overcrowding.
See details In V. 100, p., 139.
In Nov. 1916
the voters of Newport rejected the 20-year franchise granted by the city
In July 1916.
On Sept. 281917 Mayor Puchta approved a franchise granted
/by the City Council of Cincinnati which in the case of so-called "temporary"
Covington and Newport routes, the former remained in force until Jan. 1
1919 and the latter continues until 24 ipos. after ordinance takes effect
In the case of other routes the grant will remain in force for 25 years after
the date the ordinance takes effect.
For terms see V. 105, p. 1617.
On Nov. 19 1917 Federal Judge A. M. Cochran issued a temporary in¬
junction restraining the agents or employees of the city of Newport from
interfering with the operation of the So. Cov. A Cln. St, By. and from
tearing up any more tracks.
Tfcose which had been torn up were at once
replaced by the co. and operations resumed.
The trouble arose out of
the franchise litigation between the co. and the city.
On Apr. 15 1918 a decision was handed down In the U. S. Supreme Court
In favor of the So. Cov. A Cin. St. Ry. Co., In the action brought by the
city of Covington to oust the co. from its streets.
V. 106, p- 1688
In Jan. 1920 the Union Lt., Ht. A Pow. Co. brought out $2,150,000 1st
mtge. 7% 5-year bonds to*retire $1,560,900 2-year 6% 1st mtge, notes due
Feb. 15 1920, to purchase and cancel $303,300 5% bonds due Nov. 1 1965
and to provide for exts. and impts.
V. 110, p. 368, 871.
STOCK AND BONDS—
Interest.
Date.
Outstanding
Maturit i
%
Oct '20, 1
Common, $5 000.000 ($100)
$5,000.
Q-J
Pref,
41'
%non-cum,
$5 •
000.000(1100).
4HQ-J
4.500,000 Oct'20, 1H
Underlying BondsSo CovACin cons M $500,000/ 1892
0 g J-J
150,000 Jan. 11932
gold ($500, $1,000)—.—-(Covington Sav Bank A Tr. Co., Trustee.
Cincinnati Newport A Covington—
1st consol mtge. gold, $3,-/ 1892
5 g J-J
2,850.000 July 1 1922
000.000 ($1,000)-i.c*Ar_. (Farmers' Loan A Tr. Co. of N. Y., Trustee
2d mortgage, $1,000,000, gf 1890
5 g J-J
859.000 July 11923
($1,000 each)
ciFarmers' Loan A Trust Co., N. Y., Trustee
Union Lioht. Heat & Power Co.—
First
mortgage
$5,000,000/ 1920 7 g F-A 15
2,150,000 Feb. 151925
($100,
$500 and $1,000)/Int. at Union Savings Bank A Trust Co.,
gold c*Ar*„_—
—tH Cine., Trus., or at Bankers Tr. Co., N. Y.
,-j
Guaranteed
Bonds—
Licking River Br Co 1st Ml
$185,000 guar (see text) sff
5 M-8
1914
185.000
1939
Bonds.—Of the first consolidated bonds of 1892 of the C. N. A O. Ry,
$150 000
are
deposited
with
the trustee to
retire underlying mortgage
bonds.
The perpetual charters of constituent companies are kept alive,
and their capital stocks are deposited with the trustee as collateral for the
first consols.
Interest on those bonds Is payable at the National Bai*k o
Commerce, New York, First National Bank. Cincinnati, and Liberty Nat
Bank, Covington.
The Union Light, Heat A Power Co,
1st M. 7%
bonds are a 1st lien on the co.'s property.
Additional bonds of this issue
may be issued for 85% of the cost of additions and impts. under certain
restrictions.
Are call, all or in part on any int. date on 30 days' notice at
102 and Int. to and inch Feb. 15 1923, ana thereafter at 100 and int.
The
Columbia Gas A Elec. Co. guar., p. A L, the 1st M. bonds of the U.nlon
Lt., Ht. & Pow. Co.
V. 110, p. 368.
Licking River bonds are guaranteed
by Columbia Gas A Elec. Co. and the South Covington A Cin. St. Ry.
DIVIDENDS.—On pref. 4^% Is being paid (1K% quar.).
On com
stock first div. of *4 % was paid July 15 1907 and %% Oct. 15 1907. Jr.
1908. 3H %; in 1909.3 %%\ in 1910, 4H %; In 1911.4Ji%;in 1912,5 H%
In 1913, 5H%\ In 1914 and since. 6% per annum.
ROAD.—Connects Cincinnati, Covington, Newpc
iwport Bellevue, Dayton
Clifton, Southgate, Fort Thomas, Fort Mitchell, West Covington ar<J
Ludlowv
Total in operation, 68 miles; laid with 80-lb. Johnston gird*
and 72-ib. "T" rails.
mon
OFFICERS.—Pres., James M. Hutton; V.-P., Louis J. Hauck; Sec *
Treas., George M. Abbott.—V. 105, p 1617; V. 106, p, 821. 924, 1681
V. 107, p. 905, 1099; V. 110, p. 871; V. Ill, p. 1660.
DALLAS, TEXAS.
DALLAS RAILWAY
CO.
ORGANIZATION.—Incorp. in Texas on Sept. 22 1917 to take over and
operate the electric railway properties formerly owned by the Dallas Elec.
Lt. A Pow. Co. (see Dallas Electric Co. In this Section for Sept. 1917) under
the "service-at-cost" franchise approved by the citizens of Dallas at an
election held April 3 1917.
Formal acceptance of the franchise was filed
Sept. 27 1917.
V. 105, p. 1419.
The lighting properties of the Dallas
Electric Lt. A Pow. Co. were taken over by the Dallas Power A Light Co.,
which
see
below.
The company
with the right to purchase for $2,000,000, the Oak
Cliff lines of the Northern Texas Traction Co. at an annual rental increasing
from $115,000 for the first three years to $150,000 the seventh year and
leases
thereafter:
■
/
are now
held by the General Electric Co.
STOCK AND BONDS—
Date.
V. Ill, p. 1082.
Interest.
Outstanding.
Maturity.
Common, $2,250,000 ($100)$2,250,000
Preferred $500,000 7% ($100)500,000
Dallas Elec Term M notes/ 1916
6 J-J
750,000
See text
$l,000,000($500A$l,000)cMInt. at State St. Tr. Co.. Boston, Trustee.
Secured notes Series "A" $1,-1 1918
7%
x
1,000,000
See text
100,000 gold
(Equitable Trust Co., New York, trustee.
Unsecured notes—— 1917
6%
2,529.869 April 1 1922
Car trust certificates ($1,000)
1920
83 M-S
280,000
See text
at
elity Tr. Co., Bait., trustee
gold
,y,
cf/J
—
— —
-
——
_
-
Stock.--Pref. stock
and to
Is entitled to 7% non-cum. divs. up to Sept.
7% cum. divs. thereafter.
Red. at 110 and divs.
on
30 1920,
60 day notice.
7% notes, series "A," originally matured June 15 1920, but have been exten¬
ded (date indeterminate).
Bonds.—Redeemable at par and interest.
The car trust certfs. are due
serially Mar. 1 1921 to Sept. 1 1923.
Secured by 50 new safety cars.
Red. as a whole on 30 days' notice at 101 14 and int.
V. Ill, p. 791.
EARNINGS.—For cal. year 1919, gross, $2,509,386; net, $309,230.
In *1918, gross, $1,836,389; net, $178,359.
ROAD.—Owns and operates 69.2 miles of track
suburbs In addition to the leased Oak Cliff lines.
In the city of Dallas and
237
cars.
Standard gauge.
OFFICERS.—Chairman of Board. O. W. Hobson;
Pres., J. F. Strick¬
land; V.-P's., J. C. Duke, C. E. Calder and Richard Meriwether; Sec.Treas., J. B. Walker; Gen. Mgr., C. W. Davis.—V. 105, p. 2271; V. 109.
p. 1609; V. 110, p. 1415, 2387; V. Ill, p. 73, 791, 989. 1082, 1277.
'
DALLAS POWER & LIGHT CO.
ORGANIZATION.—Incorp. In Texas on Sept. 22 1917 to take over and
operate the light ?,nd power properties of the Dallas Electric Light A Power
Go. formerly controlled by Dallas Electric Co.
(See this section for Sept.
1917) under the franchise approved by the citizens of Dallas at an election
held April 3 1917 and formally accepted on Sept. 27 1917.
The railway
of the Dallas Elec. L. A P. Co. ware taken over by the Dallas
ly. Co., which see above.
V. 105, p. 1423.
■■■
.
Does substantially all the electric light and power
•
■
.
business in Dallas,
population of about 174,000.
Franchise.—'The franchise provides for an expenditure of $2,000,000 in
altering, reconstructing and rearranging and Improving the distributing
systems, power plants and properties and in making additions and exten¬
dons, $1,000,000 to be expended within 18 months after Sept. 30 1917,
sions, $1,0
and $1,000,000 within the succeeding 42 months.
Further provisions or
the franchise are (1) a definite "property value" on which the co. is author¬
ized to earn 8% per annum.
This auth. rate of return is Increased automat¬
ically by specified percentages if and when the maximum rate for lighting
is reduced, and conversely is decreased if, under certain conditions, the
maximum rate for lighting is increased.
12) The agreed "property value"
on Sept. 30 1917 was placed at approximately $4,850,000 plus all subsequent
admitted additions and Improvements, there was on Aug.31 1920 a "prop¬
erty value" of about $7,078,000.
(3) The rates for service are under the
Jurisdiction of the city authorities, but the maximum lighting rate cannot
remain lower than 6 cents per k.w. hour unless the co. is earning the full
rate of return on the "property value" and in addition is maintaining out of'
earnings:
(a) A "surplus reserve" of 8% on the "property value"; (6) An
"accident reserve" of 2}i% of the gross receipts; (c) A "maintenance and
depreciation reserve" or 6 % of the "property value."
(4) The term of the
franchise Is ten years from April 3 1917, and continues thereafter unless
and until the city or its licensee shall purchase the property, in which event
the city shall pay the co. at least 105%, or the city's licensee at least 110%
of the then "property value."
(5) Provision for arbitration of disputed
matters between the city and the company.
On June 30 1919 the co. was auth. by the Mayor and the City Comm.
of Dallas to issue not more than $1,500,000 7% cum. pref. stock and $5,000,000 6 % 30-yr. mtge. bonds,
The co. in July 1919 issued at par $1.000,000 of the pref. stock (this was offered to the co's. employees and
patrons—V. 109, p. 984) and $4,500,000 of the bonds, the proceeds being
used to pay off $1,000,000 1st mtge. 7% notes due Feb. 1 1920 (V. 109.
p. 479) ana $4,000,000 6% unsecured notes due April 1 1922, leaving avail¬
able for corporate purposes $220,000.
The $500,000 unissued bonds were
placed In the treasury of the co.
V. 109, p. 274.
Compare V. 109, p. 175.
In July 1920 the co. applied for auth. to issue $700,000 bonds.
V.
Ill, p. 392.
serving
a
.
,
.
Outstanding.
Maturity.
Interest.
$2,000,000
1,000,000 Aug 20,1%
7%
4,500,000 July I "
1919
6 g J-J 1
($500 A $1.000) goldc *r*tf} Old Colony Trust Co., Boston/Trustee.
STOCK AND BONDS—
Date.
Com stock $2,000,000 ($100)Pref. stock $1,500,000 cum_—
1st M Ser "A" $5,000,0001
—
-
Bonds.—Are issuable in series maturing not earlier
than July 1 1949
of int. and red. upon such
be determined by the board of directors.
Additional bonds
may be issued to the extent of 80% of the cost of exts., betterments and
Impts. under certain conditions.
Otherwise the authorized issue is not
limited as to amount.
The series "A" bonds are red. all or in part on 30
days' notice at 10714 and int. up to and incl. July 1 1924; 100 U and int.
through July 1 1929; 105H and int. through July 1 1934; 104 H and Int.
through July 1 1939; 103 and hit. through July 1 1948; 101 and Ixt. there¬
after.
$500,000 are held in the treasury.
Annual sinking and impt.
fund beginning 1924 of 1H% of the total amount of bonds issued.
Int.
Is payable in Boston and New York.
•
.
Dividends.—1 % % has been paid on the pref. stock regularly quarterly
from date of issuance to and incl. Aug. 1920.
nor
later than July 1 1962, and bearing such rates
terms
as
may
„
31:
Other
Income.
$3,593
5,706
,
,
.
,
.
EARNINGS.—For 12 months ending Aug.
Twelve
Gross
Earnings.
1919-20—-—$2,204,514
1918-19
1,606,931
Months—
Net, after
Taxes.
$706,495
676,756
Interest,
Ac.
$294,278
348.770
_
Balance,
^
$415,810
333,692
38
ELECTRIC
OFFICERS.—Pres., J. F. Strickland: V.-Ps., W. B. Head, A. S. Greuier
Hill; V.-P. A Gen. Mgr., C. W. Davis: Sec. A Treas., J. B.
Walker; Asst. Sec.-Treas., J. C. Thompson and C. L. Cox.
REPORT.—For cal. years:
and E. W.
Management.—Operations are supervised by Electric Bond A Share Co.
—V. 106. p. 824; V. 108. p. 2332; V. 109. p. 175. 274.479. 984.
'
[Vol. 111.
RAILWAYS
Net.
$159
19,163
37,935
Gross.
1918
1917
1916
—-
$128,878
141,653
165,321
Int. A Taxes.
$11,194
37,371
50,234
Balance
def. $11,035
def. 18,387
def. 12,299
OFFICERS.—Pres. A Gen. Man
Stephen Crute. New York; Sec. A
Treas., Geo. II. Klinzing, Danbury.—V. 109, p. 2171; V. Ill, p. 73.
.
TEXAS
ELECTRIC
RAILWAY.
ORGANIZATION.—Incorp. In Texas
July 5 1916 and Is
a
consolida¬
tion of the Texas Traction Co. and Southern Traction Co. (see V. 104, p.
862. 660). comprising a modern, high-speed electric interurban railway sys¬
DAYTON,
a number of cities and towns in Texas, In and adjacent to the
Waxy Belt." including Dallas, Waco. Denison, Sherman, Corsicana.
Waxabacbie and McKinney.
Also owns and Operates the local
street railway systems in aii of these cities
except Dallas.
Present estimated
population connected and served. 365,000.
Leases for 20 years from Dec.
17 1915 the terminal facilities of the Dallas Ry.
Interurban lines are
located on private right-of-way; city franchises are satisfactory, and. In the
opinion of counsel, with two unimportant exceptions, extend well beyond
1947. Enters Dallas over tracks of the Dallas Railway Co. under long-term
"Black
contract.
Fa*e
Increase.—In Nov,
1917
Increase in
passenger,rates from about 234 cents to about 2% cents per mile to cover
Federal taxes and increased costs of operation.
the company
STOCK AND BONDS—
Date.
Com stock $6,000,000 ($100)Ltpf 7% cum $1,500,000(1100)---2a pref stock $3.000,000($100)
lit A ref Mtge gold ($500 A\ 1917
$1,000),.-
announced
Interest.
—
Q-J
Q-F
5 g J-J
an
Outstanding.
Maturity.
$6,000,000
See text
700.000 Jan '20, 1%
3.000,000 Feb '20, 1%
5,571,000 Jan
1 1947
c*ntffHarris Trust & Sav. Bank, Chicago, Trus.
OHIO.
CITY RAILWAY CO.—A trolley road.
ORGANIZATION.—Chartered May 12 1893.
tem serving
'
;
.
f
'
Is a consolidation of the
Dayton Street RR., the Dayton A Soldiers' Home RR., the Fifth Street
RR.
Franchises run for 50 years from Feb. 8 J 892 and Apr" 19 1893.
Fare Increase.—On July 6 1920 was auth. to charge a 7-cent fare.
V. 111,
294.
p.
■■■,'•
($100)
STOCK,—$2,400,000 ($100) com. auth.and issued and $600,000
6% pref. auth. and issued.
Bond issues have been paid off.
Dividends.—0% per annum is being paid on pref.
On common. In 1900
lo 1903. Incl., 0%; also 10 2-3% ($250,000 In new stock at par or In cash),
declared Nov. 1903, paid Jan. 1 1904: In 1904, 0%; in 1905, 6)4%; 1900 to
1910, Inclusive, 7% per ann.; in Feb. 1907 paid a special div. of 5%.
(V. 83, p. 1590); In 1911, 7%. and in April 1911 a special div. of $9 09
1-11
(V. 92. p. 1178): in 1912, Jan.. 1M%.
In March 1912 began paying divs.
Q.-M. instead or Q.-J., and on March 31 paid 1% %; June, 2%; Sept., 2%;
Dec
Tn
2%
6)4%.
1913.
8%.
1914.
In
7H%.
In
In 1919. 6%.
In 1918, 6%.
In 1917,7%.
0%In 1910,
In 1920, Mar.,1)4%;
1915.
June, 1)4%; Sept. 1)4%.
EARNINGS.—For year ending Dec. 31
gross,
1919, gross $986,966; in 1918.
$813,621; in 1917, gross, $777,443.
Ocnv debentures $3,000,000
5
1917
2,160,000
Jan 1 1942
6 g J
J-J
($1,000 and $500)
c*Ar Int. at St. Louis Un. Tr. Co., trus., or N. Y.
Texas Traction 1st M sink fd
1907
5 g J-J
1.257,000 Jan
1 1937
$3,000,000 ($l,000)gc*Artf Int. at Old Colony Trust Co., Boston, Trus.
Den A Sher first mortgage.
1902
5 J-J
114.000 July 1 1927
$350,000 ($1,000)c*tf Int. at Illinois Tr. A Sav. Bk., Chic., Trus.
operates in all |37.859 miles of single track,
namely: Third Street Line, Fifth Street Line, Green Line and Hammer Ave.
Line.
Gauge 4 ft. 8^4 in.; rails 70 and 80-lb. T. and 70 and 90-lb. girder;
operating 42 p. E. 67 and 50 G. E. 800 motor equipments, 134 pass, cars,
3 sprinklers, 3 snow cars, 2 sand cars, 3 flat cars, 1 tool car and 1 work car.
Preferred Stock.—Remaining 1st pref. stockl s held In treasury.
Red. od
dlv. date after Jan, 1 1922 at 107 34 and div. on 30 days' notice.
The 2d
pref. stock is callable on any div. date on 30 days' notice at 10734 and dlv.
V
Winters; 3d V.-P., G. H. Gorman; Sec., M. Hall; Asst. Sec.. J. 8. McMahon- Gen. Mgr.. T. E. Howell.
Main office. 511-514 Mutual Home
.
any
Bonds.—Additional
issued for only 75% of the
provided net earnings are twice the total annua)
interest charge, Including bonds applied for.
In addition to ordinary re¬
serves for personal injuries and damages. $75,000 bonds are provided usable
for this sole purpose.
Provision Is also made for refunding underlying bonds
A special trust fund for maint. and renewals is provided out of gross earn¬
ings as follows: 1917, 11%; 1918, 12%; 1919, 13%: 1920, 14%: 1921 and
thereafter, 15%.
Any part not so used may be expend ed for exts., Ac.,
or for the redemption or any outstanding bonds.
Beginning Apr. 1 1921
and yearly thereafter, cash equal to 1% of the 1st A ref. 5s and underlying
bonds outstanding on the previous Dec. 31, less amount of payments
t<5 underlying sink. fds. during preceding year, shall be deposited, usable for
extens., Ac., against which no 1st A ref. 5s shall be Issued, or for the retire¬
ment of 1st A ref. or underlying bonds.
The 1st A ref. 5s are red. on any
int. date up to and incl. Jan. 1 1942 at 105 and int.: thereafter at 10234 and
1st & ref. bonds may be
ROAD.—Controls
OFFICERS.—Pres., E.
Bldg., Dayton.—V. 100,
cost of extensions, Ac.,
int.
Of the amount reported outstanding $52,000 are held In treasury.
Interest Is payable In Chicago and New York.
See offering In V. 106, p.
The debs, are callable Jan. 1 1922 and any int. date thereafter on
397.
80 days' notice at 10234 and int.; convertible on and after Jan. 1 1922 into
7% cum. first pref. stock, par for par, with adjustment of int. and divs.
The Texas Traction 1st 5s can bo called at 110 A accrued interest
on
any
int.
date upon 30 days' notice.
$560,000
(not Incl. in amount
reported outstanding) are deposited under 1st A ref. mtge. of the Texas
Electric Railway Co.
A sinking fund of 5% of gross earnings began
July 1
1912, to be used in the purchase of bonds; $349,000 held In
sink, fund not incl. In amount outstandlr#above.
Den. A Sher. 1st M.
bonds are sublect to call since July 1 1917 at 105 and interest on four
weeks' notice.
A sinking fund began July 1 1905 of 2% per annum of
bonds out until
1913, when amount payable became 3% per annum until
1917; from 1918 to 1922, incl., 4% per annum; 1923 to 1926, Incl., 5% per
annum; $132,000 In sinking fund, not Incl. in amount outstanding above;
$3,000 canceled; $37,000 in treasury (not incl. in amount reported outstg).
On March 1 1920 an initial div. of M of 1% was paid on the common stock.
Dividends.—Divs. on the first pref. stock were begun Oct. 1 1917.
Dividends of l%% quarterly on the 2d pref. stock were begun Nov. 1 1917.
EARNINGS for years ending Dec. 31:
Year—
Gross.
Net [aft. taxes).
1919
--.$2,951,511
2,381,475
1918
Interest.
Bal.
$477,778
467,397
$1,213,233
945,217
surplu*
$735,455
477,820
ROAD.—Owns and operates Interurban lines between Dallas and Deni¬
79.67 m.; Dallas and Waco, 96.35 m.; Dallas and Corsicana, 59.47 m.
(incl. 2d main track, sidings and turnouts, 15.28 m.); local lines in Sherman.
Denison, McKinney, Waco, Corsicana and Waxahachie, Tex., incl. sidings,
Ac., 33.98 m.; total, 279.45 m. (incl. 9.98 m. of track, being entrance into
Dallas, leased). Gauge 4 ft. 834 in. 70-80-lb. "T" rail. 63 interurban pas¬
senger, 67 city nassetiger, 16 express and baggage and 44 work, Ac., cars;
total, 190; 14 sub-stations.
Leases generating plant to Tex. Pow. A Lt. Co
from which it purchases power under contract, expiring at same time as lease.
son,
.
OFFICERS.—Pres.. J. F. Strickland; V.-P. A Gen. Mgr., Burr Martin;
V.-P. A Treas., H. I. Gahagan; Sec., Jas. P. Griffin; Aud., J. A. Wright.-V. 106, p. 2230; V. 108, p. 581; V. 109, p. 1893.
and
p.
Grimes; 1st V.-P., G. G. Shaw; 2d V.-P..
D.
53, 1256; V. 110,
DAYTON COVINGTON
&
p.
359; V. Ill, p. 294,
PIQUA TRACTION.—A trolley road.
ORGANIZATION.—This was formerly known as the Dayton A Troy
Traction, but name changed to the above in Aug. 1901.
The I>. A T.
Traction was Incorporated in Ohio in Jan. 1900 to build a street railway
from Dayton to Troy, but route was changed, and road constructed from
Dayton to Covington and Piqua, about 38 miles.
Company acquis a the
right to use the tracks of the People's Ry. In entering city of Dayton.
The $60,000 2d mtge. 6s due Sept. 1 1919 were we understand, extended
to April 1 1922 at the same rate of int.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
($100)
$000,000
..........
Pref. 5% n-c, *550,000 ($100) —.
550,000 —...
First mortgage, $550,000, g|
1902
5 g A-0
490,000 April 1 1922
($1.000)-c#_ntf lint, at Old Colony Tr. Co., Boston, Trustee.
Second mortgage, $60,000-ntf
6 g M-S
60,000 April 1 1922
Bonds.—$60,000 1st mtge. bonds are reserved for extensions and im¬
Stock auth, $600,000
-
provements: 2d mtge. bonds originally matured Sept. 1 1919 but were, we
understand, extended to April 1 1922.
*
EA RNINGS.—For years ending June 30:
Year—
Gross.
Net, aft. Taxes.
1919-20—.-
-—$241,184
1918-19
215,691
ROAD.—Total track 38 miles.
—
ib.
girder rails,
Interest.
„4
Surplus.
$29,706
'
$21,350
31,124
17,959
Standard gauge.
70-lb. T. 80 and 90-
$51,056
49,083
11 passenger cars, 2 express cars and 7
other cars.
OFFICERS.—Pres., D. Dwyer; V.-P. & Gen. Mgr., T. Russell Robin¬
son; Supt., T. J. Brennan.—V. 77. p. 146.
DAYTON
&
ELECTrTc""RY.—A
TROY
trolley road.
ORGANIZATION.—Incorp. 1900.
Is built on both public and private
right of way.
Completed in Dec. 1901.* In Dec. 1915 received a 20-year
extension of Its franchise in Piqua.
Rails, 70-lb. T.
Power house located
at Tippecanoe City, Ohio.
Stock, $500,000 ($100) com. auth. and issued
and $800,000 ($100) 5% cum. pref. auth.: $647,800 issued.
No bonds
contemplated.
In May 1902 took over Miami Valley Ry. under 99-year
(ease at a rental of $9,600 per annum, which Is applicable to stock of
$300,000, mortgage having been canceled.
Dividends.—On the pref. stock 5% per annum Is being paid. ' On com..
Ian. I 1904, 2%; in 1&05, 0%; in 1906. 0%; in 1907, 2%; in 1908. none; in
1909,5%; In 1910, 0%: In 1911. 5%; In 1912, Mar.. ljk%. In 1913. Sept.,
IH%: Dec., IH%: in 1914. June. 1)4%; in 1915, Dec., 1)4%; In 1910
and 1917, 5% each.
None since.
EARNINGS.—For years ending Dec. 31:
Oross.
Net.
Deduct'ns.
Year—
1919
1918
-
—
—
1917
$392,583
359,932
319,458
$103,649
96,731
107,704
$46,910
40,503
37,524
Dividends.
$32,390
32,390
57,386
ROAD.—Owns equivalent of 32.68 miles of single track between
and Troy.
Leases 14.25 miles between Troy and
lines in Piqua); total operated. 46.93 m.
Surplus.
$24,349
23,838
13,266
Dayton
Piqua (incl. 3.31 m,local
OFFICERS.—Pres., H. P. Clegg; V.-P. & Gen. Mgr.,
Sec. A Treas., L. C. Clegg; Aud., F. Sprague.
DANBUBY, CONN.
danbury & bethel street ry.
Control.—In Sept. 1917 Stephen
acquired control.
V 105, p.1208.
DAYTON SPRINGFIELD
Crute,
New
York,
and
associate*
Committee for lsf & Ref. 5s.—Chairman John McCarthy, Danbury,
Conn: Chas. E. Graham, New Haven, Conn., and P. Le Roy Harwood,
New London, Conn.—V. 106, p. 498.
>
Forecldsure Proceedings Started.—In Dec. 1919 a petition, on behalf of the
2d Mtge. bondholders. was filed in the Superior Court in Bridgeport, Conn.,
asking permission to institute proceedings to foreclose the property.
In¬
terest on the 2d mtge. bonds had not been
paid for 2 years.
[Interest on the
first mtge. bonds, however, is being paidT
V. 109, p. 2171.
ORGANIZATION.—Incorp. May 7 1886 under the laws of Connecticut
a perpetual special charter, the
only street car company serving tht
Its lines also extend to the Danburi
Has
city of Danbury and town of Bethel.
Fair Grounds and rhe oleasure resort of Lake Kenosla.
Increase.—In July 1920 the co. increased fares on all its lines to
or 25 tickets for $2.
V. Ill, p. 73.
10 cents
STOCK AND BONDS—
Date.
Interest.
1913
5 g M-N
Stock, $623,000 (par $25)
First
A
ref
mtge
J-J
$800.0001
„
Outstanding. Last Div.,At
$320,000 Jan *12. 2%
339.500 May 1 1943
($600 and *1.000) n »
[Int. at American Trust Co.. Bos.. Trustee
Oonso! mtge, $300,000, gold) 1906
5 g M-N
100.000 May 1 1938
($500 and $1,000)
][Int. at American Trust Co., Boston, Trustee
Debenture
6 M-S
bonds,
$75,000) 1908
63,000 Mar 1 191H
($1,000 and $500).— —cl
[Int. at City National Bank of Danbury.
Debenture bonds. $150,000— 1911
6 J-J
86.000
Jan 1 1921
Receivers'ctfs $60,000
7%
55,000
Bonds.—The 1908 dehs. are red. at. 105 on any Int. date after due no¬
tice.
Up to Sept. 1 1919 no action had been taken towards the retirement
or extension of this issue, the matter "automatically remaining In abey¬
ance."
Of the 1911 debentures, $75,000 are reserved for like amount of
debentures of 1908.
Of the 5s of 1913, $100,000 are reserved to retire
like amount of consol. 5s and $150,000 for retirement of the two debenture
issues
'
Dividends.—Io 1896-97, 4%: in 1897-98, 4%: in 1898-99. 2%; In 1899
1900, 1 H%; In 1900-01, 1H%: in 1901-02, 3%; in 1902-03. 3%; in
1903-04, 1)4%; 1907 to 1911, 4% ann.; in 1912. Jan., 2%; none since.
ROAD.—Trolley road In Danbury, and from Danbury to Bethel, and to
sidings. Ac., 1.044 miles; total, 16.07.'
42 passenger and 7 other cars.
Standard gauge.
Lake Kenosla, 15.031 miles in all;
miles.
&
XtFnTa
SOUTHERN
RY.—Trolley.
ORGANIZATION.—Incorporated In 1909
as successor to the Dayton A
On July 6 1920 was auth. to charge
a 7-cent fare.
Stock, auth. and outstanding. $200,000 com.and $300,000
pref.
Par $100.
1st M. auth. and issued, $500,000.
Earnings for year
ending Dec. 31 1919, gross, $267,589; net, after taxes, $43,940.
In 1918,
gross, $221,484; net, after taxes, $40,154.
Xenia Transit Co., sold at foreclosure.
Receiver.—On Oct. 30 1917 Judge Jarae* K. Walsh, of Greenwich, was
appointed receiver of the company on application of A. H, Flint, holder of
a $1.000 note, overdue.
V. 105, p. 1801.
Judge Walsh was superseded by
▲tty. J. Moss Ives, of Danbury, in Dec. 1917.
V. 105, p. 2272.
Fare
R. A. Crume;
General office, Tippecanoe
City, Ohio.
ROAD.—Owns and
operates about 24 miles of track from Dayton to
On Dec. 1 1917 operations between
Xenia and from Dayton to Beaverton,
Beaverton and Spring
were
discontinued and
Valley, 11 )4 miles, having proven unprofitable,
that portion of tbe line was subsequently dis¬
J. Ferneaing; V.-P., T. -A. Ferneding; Sec., H. L
Femeding; Treas., Edw. Canby, all of Dayton.—V. 89, p. 285; V. 105,
mantled.
D.
Pres.
C.
2272.
DAYTON & WESTERN TRACTION.—Trolley road.
ORGANIZATION.—Incorporated on June 26 1898.
Was leased on
June 15 1906 to Ind. Colum A East., but lease was abrogated and the pro¬
perty turned back to the co. for operation on April 25 1920.
STOCK—
Div. Period. Outstand'g. Last Dividend.
Common, $900,000 ($100)-—
Q-J
$672,500
See text.
Pref. $850,000 ($100) 5% cum
Q-M
850,000
See text.
Dividends.—Were paid under the terms of the lease up to March 1920.
For terms of lease see "Electric Railway" section for April 1920.
Income Account.—For year ended Dec. 31 1919, gross earnings $36,230
net after taxes $12,273; other inc. $38; interest on bonds $21,650; other
deductions $158; deficit for year $9,495.
ROAD.—Dayton, O., to Richmond, Ind., with branch from New We3tville to New
Paris, 39.54 miles.
At Richmond connection is made with
Terre Haute Ind. A East. Trac., making possible the operation of through
cars from Indianapolis, via Dayton, to Columbus, a distance of 194 miles.
OFFICERS.—Pres. and Treas., Valentine Winters; V.-P., F. A. Funkhouser; Sec., Russell H. Pompert, all of Dayton.
V. 82, p. 1437; V. 83,
p. 36, 94, 379; V. 110, p. 2192.
f
OAKWOOD STREET
■
RAILWAY CO.—A trolley road.
ORGANIZATION.—Incorporated July 22 1870 in Ohio.
Franchise exolres 1941.
In Oct. 1909 the Ohio Supreme Court held the franchise valid
over the objections of the City Solicitor.
On July 6 1920 was auth. to
charge a 7-cent fare.
Stock auth. and outstanding, $500,000 (par $100).
No bonds.
Operates 8 miles of track in Dayton and suburbs and leases
(from Jan. 1 1916) the Oakwood RR.'s line in Oakwood village; total miles
operated, 10.5 Standard gauge.
Pres. A Treas., H. P. Clegg; V.-P. A
Gen. Mgr., Henry Gebhart;
V.P., J. H. Winters; Sec., Harry C. Weingartn'er, all of Dayton.
V. 100, p. 1438.
Oct., 1920.]
ELECTRIC
DECATUR, INDIANA.
FORT WAYNE & DECATUR TRACTION CO.
ORGANIZATION.—Incorp. on June 11916 to succeed the Fort Wayne &
Springfield Ry., bought in at receiver's sale on Dec. 2 1915 (see V. 101, p.
2144).
On June 23 1910 the Indiana P. S. Comm. approved the purchase.
Fares.—In Jan.1918 was auth. by the I.-S. C, Comm. to increase
passenger fares 15%.
In 1919 was auth. to increase fares from 2}4 to 2%
cents per mile and in Oct. 1920 to 3 cents
per mile.
.
STOCK AND BONDS.—
Date.
Interest.
Outstanding.
Maturity.
Stock $150,000 ($100)
$150,000
First mortgage $200,000 gold! 1916
6%
156.000 June I 1926
($1,000) -J.
/int. atTri-StateL. & Tr.Co.,Ft.Wayne,trus
EARNINGS.—For
ending
years
Years—
1919
Gross.
Dec.
31:
Net, aft. Taxes.
Balance.
Interest.
$74,344
$16,529
$9,360
$7,169
1918
57,303
9,607
9,360
sur.
247
1917
53,249
3,772
8,020
def.4,248
ROAD.—Operates 21.6 miles between Decatur and Ft. Waye.
Total
track, 23.7 miles.
70-lb. T rail; gauge, 4 ft. 8)4 in.—V. 108, p. 480.
—„
-
DELAWARE,
COLUMBUS MAONETIC
OHIO.
SPRINGS
&
NORTHERN
RY.
In April 1920 we were informed that this line had been abandoned and
dismantled.
For history see this Section for Nov. 15 1919.
DENVER, COL.
THE DENVER TRAMWAY SYSTEM.
Denver & Northwestern Ry.—A holding company.
&
RGANIZATION, &c.—In Mar. 1913
Porter & Co. of Denver
the
stock
acquired
a
a
syndicate headed by Boettcher.
controlling interest through purchase of
(about $1,600,000)
held by Marsden J. Perry of Providence,
this purchase making its total holdings about a 75% int.
V. 96, p. 863
This company, since the plan in V.98, p. 1156, went Into effect,. Is simply
a holding company, practically its only asset being the $9,791,700 common
stock of the Denver Tramway Co., which is pledged as security for the $6.000.000 1st & Coll. bonds of this co., and its only liability being $6,000,000
of Its capital stock outstanding In the hands of the public, the payment of
Itb bonds having been assumea by the Denver Tramway Co.
STOCK AND BONDS.—
Interest.
Dale.
Outstanding.
Maturity
Stock $0,000,000 ($100)
Q-J 10
$8,000,000
See text
First and collateral mtge (assumed by Denv. Tram. Co.—see below).
—
Stock.—$900 is in the treasury.
1909 dividends were at rate of 0% per annum
1909 quar. div. was increased to 2% and same amount paid quar¬
terly to July 1913.
In Oct. 1913 rate was reduced and 1% was paid
(V. 97. p. 1115).
Same rate quar. to and inch April 1915.
In July
1915 rate was further reduced to )4 of 1%.
Oct. 1915 dividend omitted
Dividends.—Prior to July
STOCK AND BONDS—
Dale.
Denv Tr Pow 1st impt mtgef 1903
p.
None since.
1188, 1370.
-
Denv Tr Term 1st
500,000 g ($100
prin & int
guar
Fiscal
Net (af ter
Tares, Ac.).
Gross
Report for 1918 in V. 109, p. 1887.
Deduc' Balance,
" Other
tinns.
Earninos.
Surplus.
Income.
$3,597,999
$958,055" def.$l 18,880
$832,097
$17,078
968.617
201.553
3.419,468
1,150,352
19,818
OFFICERS.—V.-P., S. M. Perry; Sec., H. S, Robertson; Treas., II. J.
Alexander; Aud., W. A. Doty.
V. 106, p. 2345.
Yeaf—
1918
1917
(2) Denver Tramway Co.—Overating Company.
The Denver & Northwestern Ry. owns
$9,791,700 of the common stock
ORGANIZATION.—Incorp. March '30 1914 in Colorado as successor
to the Denver City Tramway Co,, which had previously absorbed the Den¬
ver
Tramway Power Co. and the Denver Tramway Terminals Co. Owns
$500,000 stock of the Consolidated Securities & Investing Co. (in¬
Outstanding.
Stock.—$9,791,700
REPORT.—Of Denver Tramway Co. (1918 report In V. 109. p. 1887):
Dec. 31 Year—
Gross. Net(aft.Tax..Ac.) Oth. Inc.
Deduc. Bal.,Sur.
<
$3,453,520
1918——
1917
2.412
city lines and 39.97 miles of Interurban lines; gauge. 3 ft. 0 in. and 4 ft.
$14 in.
252 motor passenger cars, 141 trailers, 153 freight and 79 misc.
cars;
total, 625 cars.
All freight equipment leased to Denver & InterMountain RR. Co.
Capacity of central generating plant, 19.200 k. w.
5 sub-stations, 2 of 1,500 k. w. each, 2 of 1,000 k. w. and 1 of 900 k. w.
OFFICERS.—Chairman of Board, C. Boettcher; Pres., Ernest Stenger;
V.-P., S. M. Perry; Sec., H. S. Robertson; Treas., H. J.
ffm. A.
Doty.—V. 109,
p.
Denver & Inter-Mountain RR.—Operating Company.
Co. owns all the stock and notes.
(3)
Toe Consolidated Securities & Invest.
ORGANIZATION.—Incorporated In Colorado about Oct. 29 1907 as
ater-Mountain Ry., but on April 2 1909 changed name to present title.
Private right of way.
Franchises in Denver and Golden are perpetual.
•Has freight traffic agreements with Denver Tramway Co. and arrange¬
ments for interchange of transfers on Denver City lines; also contract for
use of Tramway Co. s tracks In entering Denver.
Fare Increase.—On June 22 1918 filed with the Col. P. U. Comm. a
new tariff providing for a fare increase from 2)4 cents to 3 cents a mile
and an increase of 10% in commutatior rates
City fares are the same
as for Denver Tramway Co.
STOCK AND BONDS—
Outstanding.
Ikterest.
Date.
corp. on
cision in
V. 84, p.
220.
Under decision of the U. S. Circuit Court of Ap¬
peal on Nov. 11 1912 the franchise of 1885 was held valid, the Court de¬
ciding that in view of the franchise of 1906 It was unnecessary to pass upon
the duration of the older franchise at that time.
The company claims tnat
its franchise is perpetual.
See decision in V. 96. p. 1472.
Valuation.—In connection with fare hearings the co., in Nov. 1918,
placed the reproduction cost of its properties at $26,772,888, as of Dec. 31
1917.
The P. U. Comm.'s valuation of the same properties (in this case
"going value" and items for gravel beds and water rights included in the
co.'s figure were not taken into account) fixed the reproduction cost at
$19,495,374.
Compare annual report for 1918 in V. 109, p. 1887.
Fare Increases.—On Sept. 6 1918 the Denver City Council passed an
ordinance auth. the co. to charge a 6-cent fare on city lines.
V. 107, p.
1003.
On Sept. 12 1918 the Col. P. U. Com. auth. the co. to put into ef¬
fect a 6-cent fare beginning Sept. 15 1918.
An Increase of 3 cents in the
one-way and 8-cents in the round-trip fires on th^ interurban lines to
Golden and Leyden was also authorized.
V. 107, p. 1192.
As a result
of a wage award made by the Nat'l War Labor Board to the co.'s employees
the co. asked for a 7-cent fare with a 1-cent charge for transfers, this
petition being granted by the Col. P. U. Comm. on Dec. 17 1918.
V. 107,
p. 2376.
Compare V. 107, p. 2097.
On Dec. 23 1918, however, the
city petitioned the Comm. for a rehearing on the 7-cent fare.
V. 108,
p. 77.
On Jan. 15 1919 the Comm. suspended the 7-cent rate with a 1cent charge for transfers.
V. 108, p. 378.
On June 30 1919 the City
Council repealed the ordinance passed Sept. 6 1918 allowing the co. to
charge a 6-cent fare.
The 5-cent fare was restored July5 1919.
V. 109.
p. 172.
Because of the decreased fare, the co. on July 7 reduced wages to
the pre-war scale, which resulted in a three-day strike.
This was settled
by the city agreeing to pass an ordinance restoring the 6-cent fare tempor¬
arily.
At an election held Oct. 22 1919 the voters turned down both the
elastic 6-cent fare and service-at-cost plan.
V. 109, p. 1609.
Compare
V. 109, p. 1461.
A new ordinance effective Nov. 13 1919, however, was
passed.
This provides for a 6-cent fare granted the co. in order to avoid
a strike of the co.'s employees.
This ordinance is subject to repeal by the
Council or the people at any time.
V. 109, p. 1986.
See also V. Ill,
Alexander; Aud.,
1609, 1887, 1891, 1986; V. 110, p. 1289, 1415.
2192, 2387; V. Ill, p. 73, 588, 1082, 1182, 1472, 1566.
t)%
canceled
ROAD, &C.—Incl. in Denver Tramway
DERRY
—-
500,000
1938
„
in lieu ol i bOo.OOO
and cremated Nov. 1 1917.
were
Maturity.
$1,000,000
1st mtge notas
The notes were issued
ing stock and bonds of the Denver & Inter-Mountain RR.
See plan of re¬
organization under "Denver & Northwestern Ry." in V. 98, p. 1156.
Franchises.—Operates within the city of Denver under a general franchise
granted Feb. 5 1885.
Also under a 20-yr. grant voted by tax-paying electors
of the city In May 1900, which authorizes it to maintain three-rail tracks,
gauges 3 ft. 6 in. and 4 ft. 8)4 in., over all its present lines within the city
and permits the construction of certain viaducts and extensions.
See de¬
$958,055 df$130,958
968.617
177,269
3,846
$823,251
1,143.474
3,279,576
ROAD AND EQUIPMENT.—Including the Denver & Inter-Mountain
RR.. owns 250.51 miles of electric track, of which there are 210.54 miles of
Stock. $1,000,000 ($100)——
the same date to succeed the Denver Realty Co., Boulevard Real
of
bonds, the
remaining $250,000 being set aside for expenses of organizing Denver Tr. Co.
Bonds.—Of the bonds reported outstanding as above, $7,427,550 Denver
City Tramway 1st & ref. 6s and $18,000 Denver Tramway Terminals 1st
5s are owned by the Denver Tramway Company.
Of the Denver &
Northwestern first and collateral mortgage bonds, $5,503,000 have been
exchanged for Denver City Tramway first and refunding 5s, and $900
are
in treasury of Denver Tramway Co.
(not included in amount re¬
ported outstanding).
Of the Denver Consolidated Tramway first consoli¬
dated 5s, $163,000 have been canceled and $2,670,000 have been exchanged
for Denver City Tramway 1st & Ref. 5s.
The Denver City Tramway
Co., prior to the Bale of its properties, executed a mtge. upon all Its physical
properties (other than those formerly belonging to the Denver & North¬
western Ry. Co.) junior to the lien of its First & Ref. S. F. Mtge. (originally
matured Apr. 1 1919 and bore int. at 5%, but were extended to Apr. 1 1924
at 6%) as additional security for the [$6,000,000] First & Collat. bonds of the
Denv. & Northw. Co., the payment of which Northwestern bonds the Denv.
Tramway Co. has assumed.Denver City Tr. Co. 1st & Ref. bonds are
red. at 105 & int. after 1913 up to Nov. 1 1923: thereafter at 102 M & Int.
on 60 days' notice.
Sinking fund of 1% of bonds out began Nov. 1 1914
until and incl. Nov. LI923; thereafter 2% of bonds out; $1,109,500 retired
through sinking fund.
The Denver Tramway Power Co. 1st Impt. Mtge.
bonds are subj. to call any int. date at 105 and int., sinking fund of $50,000
per annum, to retire bonds at 105 and int., commenced in 1908, and $616,000 have been retired.
Interest payable in New York and Denver.
The
remaining Denver Tram. Term. Co. bonds are for impts.
They mature
$60,000 annually Sept. 1 1916 to 1940.
Red. as a whole on any int. day
at 105 & int. on 30 days' notice.
V. 98, p. 1156.
$300,000 retired.
entire
Estate Co. and Denver Excursion Co.), which In turn owns all the outstand¬
Maturity.
owned by Denver & Northwestern Ry.
common
which $750,000 is held for conversion of Denv. Tramway conv.
REPORT.—Of Denver Tramway System for fiscal year ending Dec. 31
(Inter^co. transactions eliminated).
Interest.
5 g A-O
884,000 Apr
1 1923
guarjlnt. at Internat. Tr. Co., Denver, trustee.
tf (
or Guaranty Trust Co.. New York.
mtge $l,-f 1910
5 g M-S
1,033,000
See text
& $1,000) jInterest at Bankers Trust Co., N. Y„ tru»c*tf {
tee, and In Denver.
$1,500,000 g ($1,000)
principal and interest
In July
V. 101
39
RAILWAYS
1st M. 5s due 1938, which
v
Co.—V. 107, p. 82.
PA.
'•
■
■■'". '•
WESTMORELAND COUNTY RAILWAY CO.
ORGANIZATION.—Incorporated in Pennsylvania on Dec. 27 1904.
Is
* consolidation of the Bradenvllle & Derry Street Ry. and the Blairsville &
Oerry Street Ry.
_
STOCK AND BONDS—
Stock.$500,000 ($50)
First
mortgage,
$250,000,
$500,000
Maturity.
----------
207.900 Mar 1 1935
5 g M-8
c*\Int. at East End Sav. & Tr. Co., Pitts., Trus.
1915
M-S
5,400
8ee text
($100)
Oar trusts
Outstanding.
Interest.
Date.
g] 1905
------
"
sinking fund and bonds are not subject to call.
Of the
amount reported outstanding $42,100 are held in treasury.
,
The car trusts mature $600 s.-a., March and Sept. 15.
$6,600 retired.
Bonds.—No
EARNINGS.—For years ending Dec. 31:
Gross.
Net.
Oth. Inc. Interest.
Cal.Yr.
1919
1918—
$57,702
60,094
$22,855
29,895
$775
$11,171
11.875
Taxes.
$1,885
2,978
Misc.Ded.
Surplus.
$11,588 def$l,790
21,191
3.626
ROAD.—Operates 7 miles of track,
OFFICERS.—Pres.. John E. Potter; V.-Ps., F. Wm. Rudell'and
McComb; Sec. & Treas., H. S. Calvert, all of Pittsburgh; Supt.,
J. A.
S. F.
Derry.—V. 82, p. 50.
Schwerdt,
DES
DES MOINES CITY
MOINES, IOWA.
RAILWAY CO.—A trolley road.
Appointed.—In Dec. 1918 Judge Martin A. Wade in the U. S.
named Homer A. Miller, and Emil
joint receivers of the co.
V. 107, p. 2376.
On Aug. 18 1919 Judge Wade auth. the receivers to Issue receiver's certifs.
to pay $73,611
back pay demanded by striking employees.
V. 109, p.
Receivers
Dist
Court, upon the co.'s application,
G. Schmidt (Pres.) to act as
77o, 981.
In March
stock not
1911 N. W. Harris of Chicago acquired practically all the
previously owned by him of the Des Moines City Ry. Oo. and
corporation, the Inter-Urban Ry. Co.
V. 92, p. 794.
of its allied
ORGANIZATION.—A consolidation In 1893 of the Des Moines 8t. RR.
Suburban Ry. Co.
Is authorized to carry freight.
Franchise.—A new 25-year franchise was granted at an election on Nov. 29
1915 which places entire control of service in the hands of a commission
(one member appointed by city and the other by the co.) and provides for
arbitration when the commission cannot agree.
Also provides for 6 tickets
for 25 cte.. half-fare for children under 12 and 20 tickets for 50 cts. for highschool students.
In June 1918 the sale of 6-for-a-quarter tickets was
suspended for the duration of the war in order to provide for increased
wages of carmen.
V. 106, p. 2559; V. 107, p. 401.
The city, when em¬
powered to do so, may purchase the property on 6 mos.' notice on the basis
of a $5,000,000 valuation as of Aug.
1 1915.
For further details, see
V. 101, p. 1885.
The franchise also provided for rehabilitation and new
construction, the major portion of which has already been accomplished.
Refinancing.—A new General & Refunding Mtge. was created in 1916
to carry out the terms of the above franchise and provide for future capital
Oo. and the Des Moines
*'
?. cent fare and referredthe City Council rejected the at thepetition for a
1566. In May 1920 the ordinance to the voters co.'s next general
election to be held in May 1921.
The co.
restrained from doing so by an injunction
threatened to cut wages but was
issued by the Dist. Court.
The
Colorado Supreme Court.
Y. 110, p. 2192, 2387;
V. Ill, p. 73.
Compare V. 110, p. 1415.
Report of Citizens' Committee Recommending Service at Cost.—See V.
co.
10S
has appealed to the
n
Strike.—V! ill,
p.
588, 1082, 1182.
In March 1919 the company announced its inability, caused by abnormal
conditions, to take up or refund the $2,000,000 1st M. 5s of the Denver
City Tramway Co. due April 1 1919.
The co. therefore arranged for an
extension of these bonds at 6% to April 1 1924.
The extended issue is
as a whole at
102H on any interest date.
V. 108, p. 1060.
The $2,500,000 conv. 6% bonds of the co. due April 1 1919 were ex¬
changed for an issue of 3-year 7% coll. trust notes due April ] 1922.
Interest Defaulted.—The int. due Oct. 1 1920 on the $2,500,000 7% coll.
trust notes was not paid when due.
V. Ill, p. 1472.
redeemable
8TOCK AND BONDS—
Coll trust notes
lienv &
gold
N W Ry 1st & coll M f
Interest.
Date.
Common stock $10,000.000
Pref stk $3,000,000 (7% cum)
'
1919
1902
-
7%
5 g M-N
Outstanding.
Maturity
$10,000,000
See text
2,500,000 Apr. 1 1922
496,100 May 1 1932
__
§ 1,000 (assumed)
$6,000,000 ($500 andllnt. at Bankers Trustco. in
c*[
trustee; also office of
Co.,
New York
Denver.
Red. at 105 and Int. on 90 days' notice.
Den City Tr Co
1st & ref M(
1908
5 g M-N
11,306,400 Nov
1 1933
$25,000,000 g ($500 andjlnt. at Bankers
Trust Co., New York.
$1,000) sinking fund._c*tf[
trustee, and in Denver.
Denv
City Tram
purchase/ 1899
6 g A-O
2.000.000 Apr
1 1924
money mtge g $2,000,000unt. at Central Trust Co., N. Y., trustee.
($500 and $1,000)
c*tf[
and in Denver (see text above).
Denv Cons Tram cons mtgef 1893
5g A-O
1,167,000 Oct
1 1933
$4,000,000 gold
ntf\Int.at Bkrs Tr.Co..N.Y.,trustee & In Denver
expenditures.
Owners of the $2,202,000 5% Ref. M. bonds of 1901 de¬
posited with the committee formed upon default of int. due Apr. 1 1915
on said bond *(V. 100, p. 1348) were given the opportunity to (1) exchange
certificates o meposit ror new bonds, $ for $, and receive a bonus of 5%
($50) in cash with adjustment of int. in cash or (2) receive payment in full
in cash.
The committee waived all defaults under the Ref. M. (V. 100.
D. 1348) and consented to the discharge of the receiver (V. 101, p. 130).
V. 102, p. 712.
All but $54,000 of the $2,413,000 Ref. M. bonds outstand¬
ing have been acquired and deposited under the Gen. & Ref. Mtge.
Guarantees the inter-Urban Fty Co. 1st M
bonds p S I
See below
New Preferred Stock.—On May 15 1918 stockholders voted to increase
the
auth.
capital stock from $3,000,000 common and $250,000 6%
non-cum. pref. stock to $3,000,000 common and $1,500,000 7% cum. pref.
stock. The new pref. stock carries the same voting powers as the common
stock and is cum. from May 1 1918 and callable, ad or in part, on any div.
fudge Wade in
**Fares
co.'s receivers to increase
if the co.'s earnings are not
in the
the Federal Court refused
the rate of fare.
The Court heldthat
sufficient to meet the fixed charges Provided for
franchise, the service must be adjusted to the income. V. 108, p. »/».
to auth. the
40
ELECTRIC
HAP
RAILWAYS
(VOL.111.
THE
OP
DETROIT UNITED RAILWAY SYSTEM
)
INCLUDING
x
Applegai
DETROIT & PORT HURON SHORE LINE RY.
(rapid railway system)
SANDWICH, WINDSOR & AMIIERSTBURG RY.
.Croswej
^
THE WINDSOR & TECUMSEII ELECTRIC RY. CO.
DETROIT, MONROE & TOLEDO SHORT LINE RY.
v
DETROIT, JACKSON & CHICAGO RY.
❖
DETROIT, ALMONT & NORTHERN R. R.
.Blaine
Jv
."V
Atkins
Melvin /
Brown Cv.
PORT
-QsAvoca
»rt Huron
,Vassar
alt Co.
FostoriaP
\
larysville
Goodland
\
\
Burns^"/
Emmett
\
Wales/**"
/
Otter/d^ke/Tv
1
\
\/'
Larab/5
v.
^^#IMl.AyVlTV
<<\
Ottisville<
Idlewikts
Surnmervilld
'
/
./
itag Island
Carltona
Attica
v
?\
Lapeer
<
ST.
Martin^A
CLAIR^
The Oakland
&or
^Col.IronjW
Kervill^^Semphi^
liver Road.
C rxi it h1 XrX&X'
Dryden
Lenox
trunk
Hunter Creek
Flint River Jc.
Metamora
,
Lepuard
\flTnt
\
lOtterburnd
/
/
V
S/ony Creek
OCHESTER<P
c?/Swartz Creek
-S^/Crapo Farm
\
ashington
Grand Blanc
,
x
Inglesid'
^o9n
trunk
Fen ton
grand
V
«i
■
Sylvan
Cass
Bryon
r
i^BeaveV
-
,
_
iC
[efrerson
.
Beach
Creuse
I ^Anse Cr
;
Linden
vGaines
w
laple Club
Eames
<"
\ 7
-<Duffield
|o\Snik River
v
\cia\vson\ V/* »2 ^Al)airview
3->
\ \
\
Ltfkel^
orcha^^*
\
A
I
It
|/
Royal
^"OaKTrrove%0
!ighland
N.
,Oak Grove
Farmington^^
.Milfordi
ARM I
NGTON,
WA LK ERVI LLE
Wixom.
Greenh^(laidstone
.Fowlerville
( NORTHVILLE,
Howell
_BrightonQ
Pettysvi/
\
\
Hamburg
0 Iosco
\
v
\a. X
Chilson\
M.^r
Center
Dearborn
River!
x
r^yC-^
Jc>?=^i^VVhitmore Lake
\
Pincknevp^'
\
w/an
Ecors^'
dotteS
^Sheldon
\
^.o
n.
\
WAYNE!
SANDWICH
:oug!c!
Inksterv^
^^Trr\
X\Hand/rg<C.
\
/Essex
SouthLyons
.
.
TRENTON;
Slocum's Jc^
•A-ftBag
Stockbridge
Belden\
Willis,
Rock wood
"Waltz1
Munith
Chelsea
Whittaker/*'
XX
SALINE
Roots
NewportJ/j 2
Grafton1
Fredoniao
Miiair
rancisco
oVan^Horr.s
JACKSON
.Manchester
Michigan
Center
Dundee1
LAKE
Britton
Tecumsel
Brooklyn
Woodstocl
ADRIAN
Blissfield
\
PalmyS7Sar5gj--5!
Jerome,
TOLEDO
1
Oct., 1920.]
At
special election held Sept. 22 1919
a
co.
ELECTRIC
a
6-cent fare
a
RAILWAY?
franchise amendment granting the
Proposed Municipal Subway—Report of Street Ry. Comm.—See V. 109,
1986.
Compare V. 109, p. 1366.
An election was held in April 1920
6 P^Pie voted in favor of a proposal that the city issue $15,000,
000 bonds, proceeds to be used to construct about 200 miles of
municipal
street railway lines. V. 110,
p. 1526. Compare V. 110, p. 464, 764.
Two
suits filed in the U. S. District Court
asking that this ordinance be declared
void and invalid were dismissed in June 1920. V.
110, p. 2657; V.
Ill
p. 294, 1660.
Compare V. 110, p. 1748.
The co. has appealed.
Fare Decisions.—The United States Supreme Court on Dec. 11 1916
up¬
held the co.'s right to charge extra fares for
transporting passengers beyond
the old city limits into
territory which has since been brought within the
voted down and
was
the wages of the carmen reduced to
Wages were 60 cents per hour
a
on Oct. 9 1919
Judge Wade ordered
maximum of 47 or 50 cents per hour
p.
j
contingent, however, upon the 6-cent fare
p. 1527. Compare V.109, p. 2356.
In Sept. 1920,
however, wages were raised to 70 cents
per hour and the co. was auth. to
charge a 6-cent fare for a period of 90 days. V. Ill,
being granted. V. 109,
p.
STOCK AND BONDS—
Common $3,000 0(W($ 100)
Pref., 7%
cum.,
Date.
Interest.
$1,500,000
mtge
$3,000,000,
Maturity.
250,000
Dee Moines City Ry
refund'g
($1.060)
1083.
Outstanding.
$1,055,000
1901
5 g A-O
29 ;600 April l"l921
gold Int. at Harris, Forbes & Co., N. Y.; as
Harris Tr. A S. Bk.. Chic. Trustee. 111. Tr,
c'.ntf
city
as at present extended; also held the co. need not sell reduced rate
'workingmen's hour" tickets in the annexed territory.
In Oct. 1919 Judge
Wiest of the Ingham County Circuit Court upheld the
constitutionality of
the
interurban fare" bill (made a law in 1919) and ruled that the
& Sav. Bk. and Wm. H
v
Des Moines City Ry Gen &
Ref M, $15,000,000, gold
($500 and $1,000)
Debentures ($2,000,000) gold
7«rn^rw''
($1,000)
Receiver
1916
1916
0 g M-S
at III. Tr. & S.
certificates..
s
power
Harris Tr. & Savs. Bk., Chicago, Trustee.
Interest at New York and Chicago,
c*ntf\lnt.
—
Henkleof Chic.
4.821,000 Jan
11936
5 J-J
1 .lOO.OOO Mar
of the Legislature to fix passenger rates is absolute and cannot be
exclusively
delegated to a commission, municipality or other authority, and hence it
can make rates to
supersede those fixed in the franchise. V. 109, p.
1 1926
1461,
On Dec. 24 1919 the Michigan Supreme Court also held that the
Legislature had the sole right to determine rates. V. 110, p. 77.
Compare V. 109, p. 1700.
In April 1920, however, the Michigan Supreme
Court vacated an injunction issued by Judge Wiest restraining the co. from
increasing its interurban fares.
For further details see V. 110, p. 1748,2075.
1527.
Bk., Chicago, trustee
State
See text
Bonds.—$74,000 Gen. & Ref. M. bonds of 1916 are reserved to retire un¬
derlying Hens. An additional $762,000 bonds may be Issued for the full
expended for construction, reconstruction and rehabilitation, ori for
permanent exts., enlargements and adds.; remaining $9,343,000 bonds
tbay
only be Issued for 80% of expend, for perm, exts.,
enlargements and addns.
amount
under
*!?
conservative
««•
restrictions.
^Itge- provides for
an
Bonds
red.
are
on
any
Int.
Fares.—On
exts.
purchase or retire¬
outstanding bonds.
V. 102, p. 975.
Of the $2,413,000 rer. mtge.
bonds of 1901
outstanding, $2,350,000 have been acquired and deposited
under the gen. & ref. M., of which $235,000 have since been
canceled and
returned to the co., leaving balance of $2,124,000 on
deposit under this
mtge.
The $54,000 in the hands of the public can be called on any int.
date at 106 and int.
Sink, fund $10,000 yearly on April 1 from 1906 to
1910, $15,000 from 1911 to 1915 and $25,000 from 1916 to 1920.
The
debentures of 1916 are callable on any int. date
up to and incl. Mar. 1 1921
at 102Yi and int.; thereafter at 101 and int.
ment of
REPORT.—For year ending Dec. 31 1919, gross, $1,856,097; net, after
In 1918, gross, $1,715,337; net after taxes, $293,619.
taxes, $225,055.
ROAD.—Operates 94.18 miles of track.
35 to 120-lb. rails.
149 pas¬
v
OFFICERS.—Pres., Emil G. Schmidt; Sec., O. H. Bernd; Treas., F. M
Harris.—Y. 108, p. 268, 878; V. 109, p. 775. 981, 1272, 1461, 1527, 2356
V. 110, p. 561, 2192, 2387, V. Ill, p. 588, 990, 1083.
INTER URBAN
RAILWAY CO.—A trolley road.
ORGANIZATION.—Incorporated in Iowa to construct, a system of
interurban roads connecting with Des Moines.
The Des Moines City Ry
Co. guarantees the bonds, principal and Interest.
The location of Camp Dodge 11 nric* outside of Des Moines made it
necessary for thecompanvto provide additioiil terminal facilities. Doubletracking of the line to the
Bonds.—Other bonds may be issued for acquisitions and extensions at
80% of cost and at not over $16,J00 per mile for new road, but only
when net earnings equal 1
times all Int. charges on bonds out and those to
be issued.
Bonds are subj. to call at 105 and int.
A sinking fund of 5%
of bal. of annua] net earns., after payment of all charges, became operative
not over
red.
are
on
any
year
In 1918,
BONDS—
Date.
Interest.
Outstanding
Maturity.
Q-M
$15,000,000 Dec. 20,2%
$25,000,000.1 1902
4^ g J-J
14.605.000 'an.
1 1932
gold ($1,000)
__c*cpt(Guaranty Trust Co.. N. Y., Trustee.
Int.
I
at Agency Bank of Montreal
Coll trust notes $4,500.0001 1918
7 g A-O 1
4,500,000 April 11923
($1,000)
gold
c*.tfICentral Tr. Co..N.Y..trustee. Int. in N.Y.
Stock
Int. date at 101 and int.
ending Dec. 31 1919, gross, $967,968; net, after
gross, $1,324,521; net, after taxes, $124,996.
ROAD.—Operates 89.06 miles of track (Incl. sidings) connecting Des
and Colfax, Des Moines and Perry, with branch to Woodward
60 and 70-lb. T rail.
17 pass. cars. 4 pass, coaches
8 electric engines, 5 express, 4 caboose, 181 freight and 17 service cars.
gauge;
OFFICERS.—Same
as
>
DETROIT
for Des Moines City
By.—V. 74,
p.
680.
DETROIT, MICH.
UNITED
RAILWAY.—(See Map page 39.)—Trolley.
ORGANIZATION.—Incorporated In Michigan Dec. 31 1900 and took
franchises and properties of the Detroit Citizens' Street Ry., the De
$15,000,000 ($100)
1st consol mtge.
Stock listed
Moines
Standard
1917
the
STOCK AND
April 1 1906. and bonds so purchased are to be kept alive for purposes of th-1
fund; $31,000 Is held In sinking fund,included in arat. outstanding above
EARNINGS.-!—For
2
abrogating
with
The Supreme Court held that the lower courts erred in not
hearing the case on its merits. V. 108, p. 268. ■ Effective June 8 1920, the
co. began charging a 6-cent cash fare, with 9 tickets for 50 cents.
V. 110,
p. 2487.
The co. announced that, effective Aug. 1 1920, fares would be
8 cents cash with 7 tickets for 50 cents. V. Ill, p. 492.
On Aug. 27 1918 was auth. by the I.-S. C. Comm. to increase inter¬
urban passenger fares by from 25 to 50%.
The new rate is 2 cents pel
mile plus a 5-cent fare in Detroit.
All mileage and reduced tickets will be
eliminated except school tickets and children s rates.
V. 107, p. 905.
On Feb. 6 1917 authorized amount of stock was increased from $12,500,000 to $15,000,000 and the $2,500,000 new stock was offered pro rata to
stockholders of record Feb. 16 1917 at par.
V. 104. p. 163, 559.
In Mar. 1918 Issued $4,500,000 coll. tr. notes to refund $3,500,000 notes
which fell due May 5 1918 and to reimburse the co. for advances made to
refund underlying bonds and for capital_expenditures,
V. 106, p. 1126.
Date.
Interest.
Outstanding.
Maturity
Stock, $1,200,000 ($100)
$1,160,000
1st mortgage, sinking fund,' 1901
5 g A-O
1.160,000 April 1 1921
gold ($1,000), guaranteed Cont. & Comm. Tr. & Sat. Bk., Chic., Trua
p. & i. by Des Moines City Int. at Harris, Forbes & Co., New York, and
Ry
Harris Trust & Savings Bank, Chicago.
c*.ntf
Debentures, $350,000 ($1,000/ 1913
6 J-J
250.000 Jan
11923
and $500)
ntf lint, at Harris Tr. & Sav. Bk.. Chic.. Trustee
Debentures
thus
into
controversy.
camjp was completed April 1 1918.
STOCK AND BONDS—
taxes, $124,249.
fare,
entered
annual expenditure, beginning with 1919,
for
Dec.
the company began charging a straight 5the 7 and 8-tickets-for-25-cts. agreement
city on Aug. 8 1913 (see V. 97, p. 443).
The
higher rate of fare applies on all city lines except the Sherman, Four¬
teenth, Crosstown and Harper lines, where the old rates of 8 for 25c.. and
6 for 25c. continue under a franchise with 7 years to run.
By way of re¬
prisal. the City Council on Dec. 4 1917 (a) adopted a resolution directing
the company to pay a rental of $10,000 a day for the use of streets on which
franchises have expired; (b) rescinded permission to operate skip-stop on
practically all city lines; (c) recalled the resolution under which the co. had
rerouted many lines downtown; (d) placed a fund of $35,000 at the disposal
of the Municipal Railway Commission to employ engineers to determine
whether the increase Is justified, and (e) instructed the Corporation Counsel
to ascertain whether the co. has any right to operate freight and interurban
cars within the city of Detroit. V. 105, p. 2365.
In July 1920 Judge Harry
J. Dingeman denied the co.'s motion to dismiss the case instituted by the
city in Nov. 1918 to oust the co. from the streets where its franchises had
expired. V. Ill, p. 188.
At the beginning of Aug. 1918 fares were increased
to 6 cents, or 10 tickets for 55 cents. V. 107, p. 603.
On Aug. 9 1918,r
however, the Detroit Common Council passed an ordinance fixing 5 cents
or
6 rides for 25 cents, with free transfers, as a reasonable charge on
the company's lines.
A restraining writ was applied for by the com¬
pany, but Judge Tuttle in the U. S. Dist. Court refused to hear the plea.
The co. appealed to the U. 9. Supreme Court and in Sept. 1918 Justice
William R. Day rendered a-decision denying the co.'s petition for an order
to prevent the Citv of Detroit from enforcing its 5-cent fare ordinance.
V. 107, p. 1192.
Compare V. 107, p. 1003.
On Sept. 24 1918 the co.'s
motion for a dissolution of the injunction restraining it from violating the
above ordinance was denied by Judge Dingeman in the Circuit Court at
Detroit.
V. 107, p. 1287.
On Jan. 13 1919 the United States Supreme
Court set aside the decisions of the lower courts and upheld the co. in the
cent
date at 105
0' 20% of
gross
earnings
for
malnt., repairs
and renewals
and addns. for which no bonds
may be Issued, or for the
senger, 30 service cars.
41
on
theN. Y., Montreal. Detroit and
Cleve. Stock Exchanges.
$25.000.000 first consolidated mortgage bonds authorized
$7,055,000 are reserved to retire underlying liens and $3,340,000 are held
in treasury.
Callable at 105 and int. on any int. date on 60 days notice.
See V. 73, p. 1111; V, 103, p. 320.
Listed on N. Y. Stock Exchange. The
coll. trust notes are secured by a deposit of $9,000,000 par val. of stocks and
bonds of constituent companies.
No additional Detroit United Ry. 4 Vi%
cons.
M. bonds can be issued except for refunding purposes, nor can the
constituent companies, whose shares are pledged under these notes, increase
their bonded debt while any of these notes remain outstanding.
Notes are
red. as a whole or in amounts of not less than $500,000 on 30 days notice at
101 and int. to April 1 1922; thereafter at 100>4 and int.
V. 106, p. 1126.
nnvj, —Of the
over
trolt Electric Ry., the Detroit Ft. Wayne A Belle Isle and the Detroit Sub¬
urban. V. 72, p. 4 4 ,183. Embraces all the street railway lines in Detroit.
Later absorbed by
purchase the Detroit & Northwestern Ry., which is
known
as
Lake division, the Detroit & Pontiac Ry., known
the Pontiac division, the Wyandotte & Detroit River Ry., known as the
as
the Orchard
Wyandotte division, and the Detroit & Flint, formerly the Detroit Roches
Ry., and known as the Flint division.
Owns entire capital stock of the Detroit A Port Huron Shore Line (Rapid
Railway System); Sandwich Windsor & Amherstburg Ry. (acquired in
Aug. 1901): Detroit Monroe & Toledo Short Line Ry. (acquired in Feb
1906) and the Detroit Jackson A Chicago Ry.
The iast-namxi is a re
organization of the Detroit Ypsilanti Ann Arbor & Jackson Ry., the Jack
■on Ann Arbor & Detroit Ry. and the Detroit Plymouth & Northville Ry..
which were acquired in Jan. 1907.
Also owns the entire capital stock of
the Detroit Almont A Northern RR., which it leases for 50 years from 1915
and guarantees and assumes its bonds as a direct obligation, by endorsem't.
In Aug. 1901 purchased 180 shares (all) of the stock of the City Electric
Ry. and the People's Electric Light plant of Windsor, Out.
ter Romeo & Lake Orion
Franchises.—On May 22 1916, Pres. J. C. Hutchins wrote;
"Certain of
the franchises in Detroit have expired during the past several years.
These
franchises, which relate to about 15% of the total mileage, have not been
renewed, but the Detroit United Ry. continues to operate these lines In
Question as heretofore, having made agreements with the city authorities
for rates of fare (but see remarks below) and extensions of its lines.
These
conditions have
created
what may be called an indeterminate franchise,
anticipates will continue in force as heretofore so
long as the co. furnishes its present efficient service at existing low average
rates."
(See below.) For decisions relating to Fort St. franchise see V. 95.
p. 890; V. 96, p. 947, 1556.
which
the management
Appraisal of Company's Property.—In Oct. 1915 Prof. Mortimer E. Cooley
filed a report of his appraisal of the company's property, which f'xed the
value in the one-fare zone on Jan. 1 1915 at $29,714,079, or less deprecia¬
tion. at$23,608,665;
prec.
physical value of entire system. $48,400,764. with deconsidered, $43,051,662.
The value of all franchises was placed at
Total value of D. U. Ry. system, $56,184,165, or less deprec
$50,815,063. V. 101, p. 1464. Compare V. 100, p. 139, 308.
See 1919
Detroit
Detroit Ry 1st M.g
110,
p.
2487.
City'Purchase Plan Defeated.—In July 1918 the Detroit Street Railroad
Comm. reopened negotiations with the co. for the purchase of its properties
V. 107, p. 181; V. 108, p. 378.
On Feb. 12
declined the city's offer to purchase the system within the
5-cent fare zone for $29,653,936.
V. 108, p. 784.
The co. a few days
upon some
1919 the
agreeable basis.
numbers 601 and above mature Dec. 1
Detroit
1st
mtge.
'
$1.000)
proposal that the city lease the street railway proper¬
ties of the co. at an annual rental of $2,010,000.
This was rejected by
the city officials and the Street Ry. Comm.
V. 108, p. 878.
On March 10
1919 an agreement was reached between the co. and the city officials for
the sale of the co.'s properties to the city at a compromise price of $31 ,500,000.
This agreement provided for the payment of $15,000,000 in cash,
the remainder to be paid on a partial payment basis.
V. 108, p. 1164.
On April 7 1919, however, this proposition was submitted to the people for
ratification and defeated by a vote of 70.271 to 63,883.
V. 108, p. 1511.
a
counter
Report by Engineers to Board of Street Ry. Comm. See Y. 106, p. 929.
Maturity.
$1,400,000
1920-L924
gold,
Fort
Wayne
1924; $400,000 have been retired.
&
Belie
Isle.
'
$1,200,000( 1898
5 g A-O
$1,200,000 April 1 1927
c*Ar(New York Trust Co.. Trustee.
Subject to
( call at 105 and int. on 60 days' notice.
Interest at Kean. Taylor & Co.. New York.
Detroit
&
Northwestern
Date.
1st
$1,000,000.
($100. $1.000)
mtge.
gold/ 1901
Ry.
Interest.
4H g M-N
Outstanding.
Maturity
$855,000 Mav 1
1921
Detroit, Trust.
Bonds.—Are guar., p. A; L, by Detroit United Ry. by end. and are sub¬
ject to call at 105 and int. on 60 days'notice.
See V. 73. p. 494.
-
c»llnterest at Union Trust Co.,
Detroit & Pontiac Ry.
1st mortgage, $500,000, gold(
1897
5 g F-A
$500,000 Feb
1 1922
Washington Trust Co., N. Y., Trustee.
People's State Bank, Detroit.
1st con mtge, gold ($1,000).( 1901
4H g J-D
600.000 June 1 1926
$1,100,000
c*Ar)Tnt. at Washington Tr. Co
N. Y., Trustee.
Bonds.—$500,000 consolidated mtge. 414% bonds are reserved to retire
like amount of 1st mtge. bonds.
Bonds are suhject to call at 105 and interest on 60 days' notice after June 1 1911.
Principal and Interest of both
issues guaranteed by Detroit United by endorsement.
($1.000)
I Interest at
,
Detroit
&
Flint
Railway.
The Detroit & Flint Ry. was organized to acquire the Detroit Rochester
Romeo & Lake Orion, together with the Nor. Det. Elec. Ry. and the Det.
Utlca A Rnmm Rv.
The consol. M. Is a 1st Hen on these last two pron'ties.
$1,100,000 Detroit Rochester Romeo & Lake Orion Ry. 1st 5s due June 1
1920, were taken up at maturity.
V. 110, p. 2192.
co.
later made
Outstanding.
Interest.
5 g J-D
($1,000)/ 1895
56.34 miles..
c*ArlInterest at Cleveland Tr. Co., Trustee.
Bonds.—First mortgage bonds of the Detroit Ry. numbered 1 to 600 malure in order of numbers at $50,000 per annum, beginning Dec. 1
1912:
on
$7,783,481.
valuation in V.
Electric.
Date.
Date,
Interest.
Outstanding.
Maturity.
1901
5 g F-A
1.400.000 Aug
1 1921
$3,000 000 ($I.000)„c»|Int. at Tr. Co. of America. N Y.. Trustee.
Detroit & Flint 1st consol M.f
g.
Bonds.—Of the consolidated mtge.. $1,100,000 are reserved to retire
bonds of like amount of the D. R. R. A Lake O. Ry. and $500,000 have been
Consolidated bonds are subject to call at 100 and Interest
canceled.
on
60 days' notice.
Both issues are guaranteed by the Detroit United
Ry.: see form of guaranty in V. 76. p. 1300: as "additional collateral
security" on the Flint bonds 1st consol. 414% bonds of the Detroit United
are deposited, $ for $. with the Guaranty Trust Co. of New York, and would
be available In the event of default on the Detroit A Flint bonds.
REPORT.—Annual report tor 1919 was
In V. 110. p. 760.
,
ELECTRIC
42
Detroit United Ry., Rapid Ry. Sys., Sandw. Wind. & Amherstb. Ry..
Tol. Sh. Line Ry. and Det. .lack. & Chic.
mmmOet. Monroe &
IP»
1019
Revenue passengers..
Transfer passengers..
Gross earnings.
...
Operating expenses—
1918
1917
1916
.394.374,451 319,843,176 356,208,429 335,599,802
.122,422,145 103,608,353 119,962,125 119,899,335
.324,683,038 319,014,018 317,427,940 316,036,669
19,792,528
14,758.339
13,259,791
11,215.802
.
Net earns, from oper.
Inc. from other sources.
$4,890,510
546,406
$4,255,679
449,735
$4,168,149
411,737
$4,820,867
351,335
r
$5,436,916
$2,868,250
$4,705,414
$2,610,830
$4,579,886
$2,404,355
$5,172,202
$2,291,410
Inc. from all sources..
Interest and taxes...—
Dividends
(8 %) 1,200,000 (8) 1,200,000(7%)\\\8750(6^)843,750
Deprecia'n charged off..
600,000
600,000
800,000
800,000
Reserve for taxes....—
Reserve for contingencies
200,000
150,000
150,000
$5,018,250
Surplus income..—.
$418,666
$4,560,830
$144,584
Total deductions
150,000
$106,781
19$to and
Incl. Dec. 1920.2%.
ROAD.—On Dec. 311919 operated 928.3966 miles of track, as follow*
United, including Wyandotte <fc Detroit River Ry.* Detroit k
Northwestern,Detroit &Ponttac, Detroit k Flint, 544.7286miles; Detroit &
Port Huron Shore Line, 142.5927 miles; Sandwich Windsor k Amherstburg
Ry.,45.2371 miles; Detroit Monroe k Toledo Short Line, 84.4872 miles, De¬
troit Jackson k Chicago Ry.. 111.3510 miles.
Ralls.77.85and 98-lb. steel..
Does an express service.
Has 1,895 passenger cars, 284 freight and con¬
struction cars, 38 line cars, 104 express cars, 21 miscellaneous cars, 4
motives, 4,880 motors and 3;806 trucks. There are 7 power houses,
loco¬
with
a combined capacity of 61,172 h.
p., 2 storage batteries, with a combined
capacity of 4,500 amperes and 19 sub-stations with a combined capacity of
w.
OFFICERS.—Chairman of the Bd., J. C. Hutchins, Detroit; Pres. k
Gen. Mgr., F. W. Brooks, Detroit; V.-Ps., E. W. Moore, Cleveland, and
A. J. Ferguson, Montreal; V.-P. k Treas., Allen F. Edwards, Detroit; Sec.,
A. E. Peters, Detroit; Asst. Sec., Miss Emma Heise; Gen. Aud., Irwin
Fullerton.
General offices, Interurban Bldg., Detroit.—V. 110, p. 77, 167,
,464, 658, 760, 764, 1289, 1526, 1748, 2075, 2192, 2387, 2487. 2657; V. Ill
p. 1&8, 294, 492, 1083, 1369, 1660.
Detroit & Port Huron Shore Line Ry.—A trolley road.
by the Detroit United Ry.
ft outstanding capital stock is now owned
/ntire
Is a consolidation of
the Rapid Railway Co., the Detroit Mt. Clemens k Marine City Ry. (the
ORGANIZATION.—Incorporated in May 1900.
purcnaser of the properties of the Mt. Clemens k Lakeside Traction Co. and
the Detroit k River St. Clair Ry.), the Port Huron St. Clair k Marine City
Ry., the Connors Creek k Clinton River Plank Road Co. and the City
Electric Ry. of Port Huron.
The new company owns the capital stock of
each road.
The consolidated company operates all the tracks In Mt. Clem¬
ens and Port Huron, and the through route from Detroit to Port Huron
running through Mt. Clemens, New Baltimore, Algonac, Marine City and
St, Clair.
Also owns the capital stock ($25,000) of the Detroit k Lake
St. Clair Ry.
EARNINGS.—Now included in report of Detroit United Ry.—V. 77. p34; V. 84. p. 338.
ORGANIZATION.—Oreanized under the laws of Illinois July 31 1916
consolidation of the Illinois Northern Utilities Co. (incorp. in April
1912), Trl-County Light k Povfer Co. (V. 97, p. 669), and the Freeport
Railway k Light Co. (see this Section for May 1916).
V. 103. p. 496.
Operates gas and electric properties in the western half of the northern
part of Illinois adjoining the territory served by the Public Service Corp.
of Northern Illinois. Also operates street railways in Sterling and Dixon and
an Interurban line between the two cities, total 1st track. 18.51 miles, and
9 miles of track in Freeport.
Franchises In Freeport expire March 1 1923.
Has traffic arrangement for 50 years with the Rockford k Interurban Ry.
Co.. allowing cars of that company to enter Freeport.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity,
Common stock
$4,635,000
as a
....
First pref stock 6% cum.....
Second preferred stock
First and ref M gold
tf
Electric Power Commission, which operates the line in the interests of nine
border municipalities in Canada.
V. 110, p. 1613.
The company accepted
in payment bonds of the said Commission whicn are guaranteed by the
Ontario Government.
No further information.
STOCK AND BONDS—
Date.
Interest.
Outstanding,
Maturity.
Stock, $350,000 _($100)....
$297,000 —
,
Consol Mtge, gold, $600,000
1902
4H g J-D
600,000 Dec 1 1922
gold ($1.000)—......-c* National Trust Co., Ltd., Toronto, Trustee.
Wind k Tec El, $300,000,
1907
5 g M-S 2
189,000 Sept 2 1927
gold ($1,000) gu p k i._c*/National Trust Co., Ltd.. Toronto, Trustee
Bonds.-~S, W. k Amh. bonds are subj. to call after Dec. 1 1912 at 105.
$110,000 of the bonds were in the Detroit United Ry. treasury Dec 31 1919.
Windsor k Tecum, bonds are guar., p. k I., by Sand. Windsor k Amherstb.
Ry.
They are redeemable since Sept. 2 1917 at 105 and Int. on 60 days'
notice.
Interest on both mortgages is payable at company's office.
.
ROAD.—Operates 45.3118 miles of track In and between Windsor,WalkSandwich and Amherstberg. Including City Rv
of Windsor (2.6°
lease.—V. 109, p. 1274, 1610. 1793, 1893, 1987.
2263; V. 110, p. 464, 1643.
ervilie.
In Feb. 1906 entire stock
was
STOCK AND BONDS—
'
Date.
Interest.
Outstanding.
Maturity.
$2,581,000
3,000.000 Jan 1 1933
gohl ($1.000)...
—c*/Un!on Trust, Co., Detroit, Trustee.
Bonds,—Interest is payable In New York.
No sinking fund and bond*
are not subject to call.
ROAD.—Operates 60 miles of road from Toledo to Detroit and 4 miles of
road from Monroe to Lake Erie; completed Nov. 5 1904.
At Toledo con¬
nection is made with the Lake Shore Electric By. for Cleveland.
Is oi
steam road construction, on private right of war; standard gauge, laid with
70-lb. T rails.
Total track, 82.8393 miles.
V. 107, p. 82; V. 108, p. 480
(4)
$3,000,000.1
1903
5 g J-J
Detroit Jackson & Chicago Ry.
ORGANIZATION.—A holding co. organized in Mich, in 1907 by Detroit
United Interest^ to take over the Det, Ypsii. Ann Arbor & Jack. Ry., the
Jack. Ann Arbor k Det. Ry. and the Det. Plym, k Nbrthvllle Ry., paying
therefor $1 230.000.
Entire stock owned by Detroit United Ry.
Fares.—On Mar. 21 1919 Judge Hosmer In the Circuit Court at Detroit
ordered fares on the co.'s lines between Detroit and Jackson reduced to the
§re-war basis of about M. 6s which matured July 1 1919 were retired on
The $60,000
"psilanti & Saline 1st 1H cents per mile. V. 108, p. 1274.
that date, $60,000 of the co.'s 1st consol. mtge. 5s
therewith.
STOCK AND BONDS—
Stock
199,500
5%
5%
....
240,500
82,800
Miscellaneous issues
——
—
—
276,000
See text
$350,000 g ($1,000)
c*\Cont. k Comm. Tr. k Sav. Bk.. Chic., trus.
Freep Ry k Lt mtge $2,000,-/ 1910
5 M-N
140,000 Nov 1 1935
000 g ($ 100. $500 k $1.000) Unt. at Cont. k Comm. Tr. & 8. B.. C b. .trus
Stock.—In addition to amounts reported outstanding, $365,000 common
and $192,000 first preferred stock are In treasury.
Bonds.—The 1st & ref. M. bonds of 1912 are red. at 105.
Additional
amounts may be issued (a) $952,800 to refund underlying bonds, (6) In
exchange, par for par, for mortgage debt existing at time of acquisition of
Freeport Ry Lt k P 1st ratgef
5 g M-N
1903
properties acquired in the future;
(c) for expenditures made in acquiring
future property to extent of 75% of cost thereof.
V. 94, p. 1383; V. 95.
o. 1123.
Int. on F. R. L. k P. bonds is payable at offices of Cont. k Comm. Trust
k Sav. Bank, Chicago.
Are subj. to call by lot at 105 k int.; $74,000 have
Maturity of bonds is as follows; $5,000 due May 1 in each of
been retired.
the years 1910. 1912 and 1913 and $5,000 annually from 1915 to 1921 incl.,
the remainder in 1922.
Of the Freep. Ry. & Lt. bonds, $350,000 are
reserved for prior liens.
They are subject to call at 102 H on 30 days'
notice from 1915.
Sinking fund began in 1915; may be used for impts., dec.
716.
Dividends.■—On pref., 1 J4% quar.
paid Nov. 1912 to and incl. Nov. 1920.
EARNINGS.—Of Illinois Northern Utilities Co. and Sterling, Dlxoa &
Eastern Electric Ry. for 5 mos. ending Dec. 31 1916 (see report in V.104,
p. 2231);
Gross, $536,157; net, $227,638: interest, rentals, &c., $123,054;
pref. divs., $42,240; surplus, $63,344.
No later statement published.
OFFICERS—Pres..
Samuel
Insull;
V.-P.,
E.
D.
Alexander:
Sec.
&
Treas., John H. Gulick; Asst. See. & Asst. Treas., O. E. McCormick; Aud.
L. E. Jacobson.—V. 104. p, 2231: V. 106. p. 1036, 1132, 1582. 2757.
DOYLESTOWN,
Date.
Interest.
($100).
First consol mtge, $4,000,0001
being issued in connection
Outstanding.
Maturity
$614,000
1907
5
F-A
2,060,000
Feb 1 1937
($1,000), gold...
c*\int. at Security Trust Co.. Detroit Trustee
1st cons M Det Y A Ar& Jack
1901
5 g F-A
1,610,000
Feb 1 1926
$2,600.000(5500.$ l,000)gc* Int. at Detroit Trust Co.. Detroit, Trustee
Det Yps & Ann Ar cons 1st M
1899
6 P F-A
330.000
Feb 1 1924
$1,000,000, g ($500 k $1 ,- Int. at Union Trust Co., Detroit, Trustee
000) sinking fund annually
The Det. Yps. k Ann Arbor k Jackson first consols cannot be called.
Of the amount reported outstanding, $46,500 were in the Detroit United
Treasury on Dec, 31 1919.
bonus.—Bonds of Det. Jack, k Chic, are subject to call on any interest
day at 105 and int.
Guar., p. & 1., by the Detroit United Rys.; enough
bonds are reserved to retire bonded debt of the Det. Yps. Ann Arbor k Jack.
Ry. V. 85, p. 345. Of the amount reported outstanding, $1,174,000 were
en Dec. 31 1919 in the Detroit tfnited treasury.
ROAD.—Completed and in operation from Detroit (through Wayne and
Ypsilanti) to Ann Arbor and to Jackson; making mileage 100 mijes, of which
40 miles over orivate right of way.
Total track, 110.5168 miles.
Rails
70 and 75-lb. T girder.
Does a freight business.—V. 108, p. 1274.
g
PA.
PHILADELPHIA & EASTON ELECTRIC RY. CO.—A trolley road.
Receivership.—On April 5 1912 Judge Ryan In Bucks County Court ap¬
pointed A. H. Sickler (Pres. of Co.) and Godfrey Schmidheiser of Phlla.
receivers.
V. 94 p, 699 1057•
ORGANIZATION.—Organized in 1907 as successor to the Philadelphia
k Easton Ry. (formerly the Doylestown & Easton Street Ry.), sold at
trustee's sale May 31 1907.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$258,800
353,800
Pref, $365,000, 5% non-cum.
5 g M-S,
1st M, $1,000,000 ($1,000./ 1907
911,000 Sept 1 1927
$500 and $100). gold
c*\lnt. at Girard Trust Co., Phila. Trustee.
Stock.—Preferred shares have no voting power.
Bonds.—Not sub. to call and no sink.fd. Int.was4% to Sept.*11; now 5%.
EARNINGS.—For year ending Dec. 31 1019, gross, $150,433; net,
$37,745.
In 1918, gross, $129,682; net, $31,549.
ROAD.—Operates 32 miles of road between Doylestown and Easton,
Operates 8 cars.
V
OFFICERS.—Pres., A. H. Sickler, Phila.; V.-P., Amos Johnson; Sec.
W. S. Chambers, Doylestown; Treas., H. G. Rush, Lancaster.—V. 85, p.
470? V. 94. p. 699. 1057.
Common, $265,000 ($50)
..........
.......
....
_
.
_
DU
on Dec. 11 1902.
acquired by Det. Unit. Ry. V. 82, p, 392.
Stock, $3,000,000.
mortgage,
5 g A-O
1912
Underlying Bonds—
De Kalb County Gas
Sterling Gas & Electric..
Detroit Monroe & Toledo Short Line Ry.
ORGANIZATION.—Incorporated In Michigan
1st
2,757,800 Nov. 20,1)4
250,000
4.996,000 Apr 1 1957
Q-F
....
Windsor St Amherstberg Ry.—Trolley.
Owns entire capital stock ($100,000) of the Windsor k Tecum
•eh Electric Ry. Entire stock of Sand.Winda. k Amh. is owned by Det. Un
The road, we understand, was sold on April 1 1920 to the Ontario Hydro-
(3)
.
ILLINOIS NORTHERN UTILITIES CO.
Controlled by the Middle West Utilities Co., which see in our "Railway
Industrial Section."
ORGANIZATION.—Incorporated under special Charter from Province
of Ontario.
.
ir^.
...
&
V. 91, p.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Stock. $2,500,000 ($100)
$2,000,000
1st mtge, $2,500,000 ($1,000) f 1900
5 g J-J
2.500.000 Jan 1 1950
cannot be called, gold.c«&r{Unlon Trust Co., Detroit, Trustee.
lint, at American Exch. Nat. Bank, N. Y
ROAD.—Total Det. k Port Huron System, 138.2268 miles.
Sandwich
'
DIXON, ILL.
$1,237,042
Detroit
(2)
by the Detroit United Ry., which, in the event of any new issue of refund¬
ing or general mortgage bonds being placed on the Det. Un. Ry. or Its sub¬
sidiaries, will reserve sufficient new bonds for the retirement of the above
issue at maturity.
Red. on and after Feb. 1 1925 at 103 and int.
Re¬
maining bonds to bear rate of interest as fixed by the directors when issued
but not to exceed 6%.
ROAD.—Extends from Romeo, through Aimont to Imlay City, about
20 miles; built on private right of way; 70-lb. rails.—V. 101, p. 130.
$3,935,160
lj^% quarterly. On Nov. 1 1905 IH %- In 1906 5%. In
21,950 k.
BONDS—
Date.
Interest.
Outstanding.
Maturity.
First mtge, gold. $2,500,000/ 1915
6 g F-A
$400,000 Feb 1 1940
($1,000 k $500)
c* tf lint, at Union Tr. Co., Detroit, Trus., k N.Y
The bonds are guar, and assumed as a direct obligation, by endorsement,
.
$4,473,106
DIVIDENDS.—First dividend of 1% on Detroit United stock was paid
1 1901 and 1% quarterly thereafter until Aug. 1 1905. when rate
was raised to
In June
(5) Detroit Almont & Northern RR.
ORGANIZATION,—Organized under the General Railroad Laws of
Michigan.
Is leased for 50 years from 1915 to the Detroit United Ry..
which owns its entire capital stock.
...
—
-
March
March, 1917. 1H%.
[Vol. Ill
RAILWAYS
BOIS, PA.
DU BOIS ELECTRIC St TRACTION CO.—In Nov. 1916 control was
acquired by the Keystone Utilities Co., which see under Scranton. Pa.
ORGANIZATION.—Incorp. in New Jersey on Nov. 18 1901 as the Amer¬
ican Town Light Co. and name changed later as above.
Owns all of the
•tock of the Du Bois Elec. Co. and the Du Bois Trac. Co.
V. 76, p. 972.
Franchises for both street railway and electric-lighting are perpetual and
exclusive.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock. $300,000 ($100)
$292,500
Gollat trust mtge. $300.000 f 1902
5 g M-N
280,500 May 1 1932
($500), gold
—..c*ntfllnt. at Columbia Trust Co., N. Y., Trustee.
Bonds.—No sinking fund, but subject to call at any time at 105 and int.
EARNINGS.—For years ending Dec. 31:
Cat. Years—
Oross.
Interest.
Balance.
Exp. & Taxes. Net.
1919.$205,394
§164,899
$40,496
$9,500
$30,996
1918
163,638
137,265
26,373
14,025
12,348
OFFICERS.—Pres., Daniel J. Dailey; V.-P., E. T. Hartigan; Sec. k
Treas., John Marsman.—V. 89, p. 1667; V. 103, p. 2340.
DUBUQUE, IOWA.
DUBUQUE
ELECTRIC
CO.
ORGANIZATION.—Organized in Delaware June 3 1916 and acquired
che Union Electric Co., of Dubuque, (see "Elec.Ry." Section for May 1916).
Does the entire electric lighting, power and street railway business in Du¬
Owns East Dubuque Elec. Co., serving East Dubuque
buque and vicinity.
111.
Also sells power to the Eastern Iowa Light k Power Co., serving 8
communities within easy transmission distance of Dubuque.
Fares.—As a result of a strike for higher wages the
company's fares were
increased in May 1920 to 8 cents-cash, with 7 tickets for 50 cents.
The old
rates were 7 cents cash or four tickets for 25 cents.
STOCK AND BONDS—
Com stock $2,000,000 ($100)
Pref 6% cum $2.000,000($100)
Date.
Interest.
V. 110, p. 2291.
Outstanding.
Maturity.
$682,000
—-
Q-M
800,000
See text
($500&$l,-j 1916
5 J-D
2,468,000 June i 1925
red at 101 k int on{lnt. at Chicago
or New Y »rk. Central
days* notice
cptl
Trust Co., of Illinois, Trustee.
1stM $6,000,000
000)
60
Stock.—Pref. stock is callable at 110 and divs. and has equal voting power
with
common.
V.
103,
p.
410.
Bonds.—Secured by an absolute first and only mortgage on all the co's
properties, rights and franchises.
Add'l bonds may be issued for only 80%
of cost of permanent add'ns and
impts. and then only when net earns, for
preceding 12 months have been at least 1H times the int. on bonds out¬
standing and those to be issued.
Sinking fund from June 1 1917. 10% of
gross earns., either to purchase bonds or call them at 101 aud int.,or for
Impts., &c.
V. 103,
p.
410.
1
Oct., 1920.]
Dividends
ELECTRIC RAILWAYS
pref. stock have been piaid regularly from date of
organ!zat'n.
Earnings—-Year ending—
July 31 '20. Julu 31 '19. Mar. 31 '18.
on
Gross
§709,532
$804,322
210,789
with 9,500 k.
Net, after taxes
Rates.-
account of
a strike.
Full schedule was resumed on Oct. 29
1919, the com¬
pany employing all new men.
Compare V. 109, p. 1527.
Interest in Default.—'The interest due Jan.
1 and July 1 1920 on the com¬
pany s 1st M. 5s was not paid when due.
V.
PROPERTY.—Power station
w. generating
capacity,
about 220 miles of transmission and
distributing lines; 20.7 miles of track
in city and suburbs,
substantially all 70-Ib. rail; 90 cars.
OFFICERS.—Pres.. I. C. Elston. Jr.. Chicago: V.-P.. H. B
Ill, p. 589.
Mavnard,
Dubuque, la.; Gen. Mgr., O. H. Simonds.—V. 110,
STOCK AND
1526, 2291."
p.
in
Ill, p. 73.
See also V. 111. p. 692.
Fares.—On Jan. 1 1918 reduced fares on Morgan Park line from 10c. to
5c.
providing for an increase in fares from 5 cents to 6 cents was
in
Duluth
on
Oct.
4
1920
by
small majority
a
V. Ill, p. 1566.
......
OFFICERS.—Pres., David King: Treas., Wm.
STOCK AND
—
Bonds.—The
mtge. of 1900 covers all the mileage of the Duluth Street
Ry.
the
property of the Lakeside St. Ry. and of the Superior Rapid Transit
having first been conveyed to the Duluth St. Ry.
The gen. mtge. bonds are
subj.-to call on any int. day at 105 and int. $240,000 are held in
treasury and
$201,000 have been canceled.
Remaining bonds may be Issued for addi¬
tions, extensions. &c., under conservative restrictions.
They are guar..
& 1., by Duluth-Superior Trac. Co.
Sinking fund of 214 % per annum of
onds out began May 1913.
Exempt from personal tax in Minnesota.
V. 90, p. 1296; V. 91, p. 276; V. 92,
p. 186; V. 104, p. 1044.
Dividends.—On the pref. stock 4% p. a. is being paid.
On com., 1st div.
—1%—Oct. 1909.
Same amount quar. to and incl. July 1910:
in Oct.
1910, \M%.
Same amount quar. to and incl. April 1913.
In July 1913
reduced to 1% (V. 96, p. 1772); same amount
quar. to and Jncl. Jan. 1915.
April dlv. omitted (V. 100, p. 900); payments changed to semiannual
basis and a div. of 1% paid July 1915 (V.
100. p. 1437)
None to Oct
1
1917, when 1% was paid.
Same rate quarterly to and incl. Oct. 1 1918.
Washington Traction Co.
Receivership.—In Nov.. 1919 William L. Doyle, of Easton, Pa., was
ap¬
pointed receiver for the co.
V. 109, p. 1987, 2440.
Foreclosure Proceedings.—The Bankers Trust
Co., N. Y., has filed a suit
to foreclose the mtge.
securing the $539,000 5% bonds of 1910, because of
default of the int. due Nov. 1 1919.
V. 109, p. 1987.
Committee for 1st Mtge. 5s.—Walter R,
Hunt, E. Hawley Van Wyck,
Laurence M. Symmes, Warner Marshall and
Robt. A. Pritchard.
De¬
positary, Bankers Trust Co., N. Y. City..
:
-
ORGANIZATION.—Incorp. In 1910 in New Jersey and is controlled
by the Northampton Trac. Oo. (see above).
Fare Increase.—On Mar. 111918 the Board of P. U.
Comm. auth. the
None since.
STOCK AND BONDS—
Pref.Divs.
Common
Balance,
Years. Earnings. Deprec.)
Taxes.
(4%).
Dividends.
Sur.or Def.
1919—$1,959,436 $386,322 $281,554 $60,000
sur.$44,768
1918—$1,686,485 $392,803 $273,746 $60,000 (3%)$105,000 def.$45,943
In
1919
carried
38,475,440
revenue
against 33,088,747
passengers
and
6,408,086 transfer
and
5.728,778
revenue passengers
transfer
passengers in 1918.
-
_
,
ROAD.—The system embraces about 104.01 miles of track and includes
Superior.
159 passenger and 18 other cars.
all the lines in Duluth and
OFFICERS.—Chairman of the Board, A. E. Ames; Pres., A. M. Robert¬
son; V.-P., Edmund Zacher; V.-P. & Gen. Mgr., Herbert Warren; Sec. &
Treas., S. L. Reiohert; Aud., W. P, Dwyer.—V. 107, p. 2476; V. 108, p.
1060; V. 110, p. 871.
$500, $1,000)
LIVERPOOL,
OHIO,
i
BEAVER VALLEY TRAC¬
ORGANIZATION.—Incorp. in Ohio and Penna.
on Nov. 1
1917
as a
of the East Liverpool Trac. & Lt. Co., the Steubenville & East
Liverpool Ry. & Lt. Co. and the Ohio River Passenger Ry.
For history
merger
of merged companies see this Section for
January 1918.
Fare Increase.—In Jan. J919 the I.-S. C. Comm. auth.
of 10 cents and
pool,
rates.
a
a
single-trip fare
commutation fare of 14 rides for $1 between East Liver¬
O., and Chester, W. Va., and dismissed
V. 108, p. 481.
STOCK AND BONDS—
Common, $2,000,000 ($100)
Pref 5% cum $2,600,000 ($100)
First mtge $3,000,000,
gold}
Date.
Interest.
a
complaint against these
Outstanding.
Maturity.
$2,000,000
2,600,000
1917
5 g M-N
1,600,000 Nov
1 1947
($1.000)
.-Clint, at Comm'l Trust Co., Phila., Trustee
Bonds.—Redeemable at 105 and int. after Nov. 1 1922.
$117,000 of
the bonds reported outstanding are held in the treasury.
-
-
EARNINGS.- -For year ending Dec. 31 1919, gross, $840,600; net, after
In 1918, gross, $770,767; net, after taxes, $113,311.
taxes, $72,636.
ROAD.—Owns and operates 100.69 miles of track between Vanport, Pa.,
O., and in Steubenville, East Liverpool and Wedsville,
Also
O., and Chester, W. Va^
operates in intervening towns, and operates
a through line between Steubenville and
Beaver, Pa.
80 cars.
and Steubenville,
OFFICERS.—Pres.. C. A. Smith. Chester. W. Va.; Gen. Mgr.. R. J.
McElravy, East Liverpool, O.; Sec. A Treas., Geo. H. Faulk, East Liver¬
pool.—V. 108, p. 481; V. 109, p. 1186.
EASTON,
NORTHAMPTON
TRACTION
Interest.
—
--
Maturity.
$1,250,
.000
"
539.000 May
1950
—
1910
f c*tfl Bankers
8
Outstanding.
....
5%
Trust
KeJundA A coosoL mortgager 1912"
$1.000.000
flfl
~
5%""
--.---/Easton
Trust
Co.,
Mnm
"
Bonds.—Northamp.-Easfc. A Wash. Trac. bonds
Vnrlr
Tnifltijo
200.000 Jan.
I 1942
Trustee
are
callable, in whole
or
in
a
part, from May 1 1915 until 1925 at 110; thereafter until
par
1935 at
07^; thereafter until maturity at 105 and Int.
Mtge. la closed.
Sink.
fund 1 % annually of avge. amount of all bonds out from
1915 to 1925;
to
1940 aud 2% thereafter.
Bonds'are unconditionally guar., p. A I
by Northampton Trac. Co. (V. 92. p. 726).
Int. payable In N. Y. City.
There are deposited to secure the
Northarap.-East. A Wash. 1st M. 5s
the following bonds of the
Northampton Traction Co.: $44,000 1st M„
$100,000 2d M. (entire issue) and $81,500 gen. M, (entire
issue).
ROAD.—17 miles of track from Phillipsburg, N. J., to
Washington,N J
105, p. 1802; V. 102, p. 1127; V. 107, p. 604, 2188; V. 109,
p. 1987
—V.
2440.
-
EAST
ST.
LOUIS, ILL.
THE EAST ST. LOUIS & SUBURBAN
CO.
(REORGANIZATION, AO,—As
1913. p.
1822. this company
was
per plan in "Chronicle'" of Dec. 20
incorporated Jan. 7 1914 in Delawaro to
succeed the old East St. Louis A Suburban Co. of N. J.In Oct.
1914 auth.
capital of the latter was reduced from $14,000,000 to $1,000,000,
consisting
of $60,000 pref. stock and $940,000 com. stock.
See V. 100, p. 474.
Owns a'l the outstanding capital stocks (with the
exception of directors
shares) aud bonds as stated of the following companies.
The amount*
pledged with the St. Louis Union Trust Co. as collateral for the East St
pie
Lo uis A Suburban Co. coll. trust bonds are also shown.
Stock-
Bon ds
Owned.
Pledged.
Owned.
Pledged.
Ry. Co..$3,850,000 $3,824,300 $4,000,000 $3,834,000
East St. Louis Ry. Co
1,940,000
1,805,500
1,910.000
1,799,000
St. L.A B. St.L. El. Ry.Co.
500,000
499.500
500.000
500,000
St. L. A Bellev. El. Ry. Co.i
750,000
750,000
East St. L. Lt. A Power Co_. 1,200.666
733",000
80,000
Alton Gran. A St. L. Tr. Co. 3.189,000
274.000
do
10-year notes
100,000
-
Alton Gas A Electric Co
do
10-year notes
599",000
III'I III
90,666
These companies own and operate all electric railway lines in East St.
Louis and Alton and interurban lines to Belleville, Edwardsvillo, Colllns-
vllle, Caseyville, O'Fallon, Maryville, Lebanon, Brooklyn, Venice, Madl
Granite City and Alton, and the only electric line across the Eada
Bridge, connecting East St. Louis with St. Louis.
Cars are operated over
this bridge under a 50-year exclusive contract expiring in 1952.
Through
arrangement with Illinois Traction Co. the interurban cars from Alton are
son.
run
EAST
STEUBENVILLE EAST LIVERPOOL &
TION CO.
Date.
Stock $1,250,000 ($100)
1st
M
(closed)
g
($100,7
Bast St. L. A Sub.
REPORT.—For calendar years (1919 report In V. 110,
p. 871):
Calendar
Gross
Net (after
Int. &
passengers,
co.
to increase its faras from 5 to 6
cents, and in Dec. 1918 a further increase
to 7 cents was authorized.
V. 106, p. 1127; V. 107, p. 2188.
.
6
L. Doyle; Gen. Mgr.,
1891, 2074; V. Ill, p. 589.
(1) Northampton-Easton tic
of Nov.
BON OS—
Date.
Interest.
Outstanding.
Maturity.
Common, $3,500,000 ($100)-Q-J
$3,500,000 Oct. '18, 1 %
Pref 4% cum,$l,500.000($100)
Q-j
1.500.000 Oct.'20,1 %
Duluth St RyM. $2,500,000,/ 1900
5 g MAN
2,500.000 May 1 1930
gold ($1,000)
_c*llnt. at Cent. Trust Co.. N. Y., Trustee
DuISt Ry gen M $2,500,000./ 1910
5M-N
1,272,000 May 1 1930
gold ($1,000) sk fd
c*llnt. at Central Tr. Co., N. Y., Trustee.
Stock.—Both com. and pref. are listed on N. Y. Stock Exch. V.
90. p. 848.
——
....
W. O. Hay.—V. 102, p.
345; V. 109, p. 1527,
(see above).
Decision.—On June 12 1916 the Wise. RR. Comm. rescinded its order
1912 requiring the Duluth St. Ry. to establish a rate of 6
tickets
for 25c. on its Superior lines, in addition to the 5-cent cash
fare in force.
of Northampton Trac. Co. (incl. in 1918 but not
1919, the Northampton-East. A Wash. Trac.) for
years ending Dec. 31:
Gross.
Net,aft.Tax.
Charges.
Surplus.
...$153,717
$21,634
226,883
72.579
•
26.950
45,629
ROAD .—Operates 33 % miles of track from Easton
to.Tataray, Nazareth»
Bangor and Portland, chiefly on private
right-of-way.
Standard gauge»
05. 70 and 80~ib steel rail.
a separate corporation, ana
An ordinance
EARNINGS.—Earnings
19J8
special election.
down
Maturity.
1919-......
2d Mtge. bonds for $300,000
bridge Items. V. 63, p. 310. 504.
Valuation.—See V. 1*0, p. 1748.
Franchise Decision.—Ou May 23 1914
Judge Cant In the State District
Court handed down a decision favorable to the
company In the suit brought
by the city of Duluth to cancel the franchise granted to the Duluth
Street
Ry. on Nov. 17 1881 (V. 98, p. 1694),and this decision was affirmed
by the
Minnesota Supreme Court on Jan. 29 1915.
V. 100, p. 473.
Municipal Ownership Voted Down.—On April 1 1919 a proposition that
the city purchase the eo's. system was defeated
by a vote of nearly two to
one.
On June 21 1920 another plan for
municipal ownership as well as an
ordinance providing for a 6-cent fare, was voted down at a
voted
Outstanding.
$500,000
5 g J-J
Ca/. Year—
„
—see
V.
Interest.
.
349.500 Jan
11933
Northampton Tr. Co.(Easton), Trus.
1912
5%
437.000 Jan
11942
Bonds.—A sink, fund of 10% of net
earns, is nowoper, on Northampton
Trac. 1st M. bonds, but bonds cannot be
called,
The Duluth-Superior Bridge between Duluth,
Minn., and Su-
as
...
—.
In 1897.
Owns entire
stock of the Duluth Street
Ry., the Lakeside Street Ry. and the Superior
Rapid Transit.
The corporate existence of the Duluth Street
Ry. is main¬
tained, but all of its stock ($2,000,000 authorized, $1,800,000
outstanding)
is held by the
Duluth-Superior Traction.
This latter company has no
bonded debt.
The Duluth Street Ry. was
organized under Act of Minne¬
sota approved Nov. 17 1881 and
possesses "an exclusive franchise" which
runs
until 1931.
See decision with regard to franchises
in Superior
in V. 80, p. 1911.
On Dec. 18 1918 the company surrendered its franchise
to operate in
Superior; the system now being operated on the indeterminate
permit basis under which the State, instead of city
officials, has jurisdiction
over the
company.
V. 107, p. 2476.
On Sept. 1 1917 the Duluth St. Ry,
acquired the 3H-mile line of the Park Point Trac. Co. of
Duluth, Minn.
V.
Eerior, Wis., is used bonds forrailway but is
by the $650,000 and
Issued 1st Mtge.
IJate
...
First mortgage $400,000
1 1903
gold
..—...___c*tff Int. at
Ref A eons mtge........
DULUTH-SUPERIOR TRACTION.—Trolley.
ORGANIZATION.—Incorporated in Connecticut
105, p. 180.
BONDS—
Stock, $500,000 ($50)
DULUTH, MINN.
/
In
Sept. 1918 increased local fares from 6 cents to 7 cents.
were also made in
freight rates.
V. 107, p. 1004.
Strike.—On Oct. 14 1919 service on the entire
system was suspended on
Advances
$641,725
203,530
192,306
43
into their terminal in
St. Louis.
Also do entire electric
lighting and
Eower business in Eastlarge Louis business is also carried
usiness in Alton.
St. coal and the electric, gas and steam heating
A
on
Franchises in East St. Louis, Edwardsville. Collinsvllle and Bellevill®
expire in 1947, 1948 and 1952; Lebanon and O'Fallon in 1922.
The Alton
railway, electric light and power franchises expire in 1948; the Alton gas
and steam-heating franchises are perpetual; Granite
City and Madison
franchises expire in 1925,
Brooklyn in 1921,
The interurban line to
Alton, outside of city limits, is nearly all on private right of way.
County
franchises covering remaining suburban lines
expire from 1920 to 1948.
Electric light and power franchise in East St. Louis
expires 2007.
Sub Company Receivership.—In Sept. 1920 Fred E.
Allen, St. Louis,
and W. H. Sawyer were appointed receivers for the Alton Granite A St.
Louis Trac. Co. on petition of the bondholders,
alleging default in int.
V. Ill, p. 1083.
Fares.—In Dec. 1917 the Alton Granite & St. Louis Trac. Co.
applied to
the I.-S. C. Comm. for permission to increase its round
trip fare from Alton
Louis from 90c. to $1.
In June 1918 the A. G. A St. L. Trac. Co.
to St.
was
auth. to increase fares from 5 to 7 cents
on its lines in Granite City ana
was inaugurated on the connecting
Aug. 91918.
V. 107, p. 695.
In March.
1920, fares on the Alton city lines were increased to 8 cents.
In Sept.
1918 the A. G. C. & St. L. Trac. Co. was auth. to
charge 2ft cents per
mile plus Missouri River bridge fares.
The co.'s application had called
for 3 cents per mile.
V. 107, p. 1192. Effective Nov. 10 1918. was auth.
by the III. P. S. Comm. to charge 3 cents per mile on interurban lines.
V, 107, p. 1837.
In June 1918 the East St. L. A Sub.
Ry. applied to the 111. P. U. Comm.
for auth. to charge a 7-cent fare with a 1-cent
charge for transfers and to
Alton.
V. 106, p. 2561.
A 7-cent fare
line between these two points on
raise fares between St. Louis and East St. Louis from 10 to 12 cents.
In
Sept. 1918 the I.-S. C. Comm. auth. the co. to increase fares from 10 cents
to 11 cents between St. Louis and East St.
Louis, 111., and neaiby points in
Illinois. V. 107, p. 1192. In July 1918 was auth.
PA.
CO.
by the 111. 1
17. Commcharge 2 cents per mile for ticket fares and 3 cents per mile for cash fares.
Auth. to charge a 6-cent fare in East St. Louis was granted
by the Comm., effective Aug. 10 1918.
Effective July 26 1920, was auth.
by the 111. P. U. Comm. to increase fares from 6 to 8 cents.
V. Ill, p. 588.
In Sept. 1920 was auth. to increase fares between East St. Louis and Belle¬
.
Receivership.—On Nov. 6 1919 Chester Snyder, of Easton, was appointed
for the co. upon application of the Northampton Trust
Co.,
receiver
trustee for the holders of the 1st Mtge. 5% bonds.
V. 109, p. 1891.
Committee for First Mtge. 5s.—Theodore Lewis, Chairman, Charles
L.
Serrill, C. S. Newhall, Jay Gates; Sec., W. B. Reed, 517 Chestnut St.,
Phila., Pa.
Depository: Penna. Co. for Insurances on Lives & Granting
Annuities, Phila., Pa.; sub-depositary, Northampton Trust Co.
Deposits
have been called for.
V. 109, p. 2074.
In Aug. 1920 it was announced
that
majority of the bonds had been deposited.
V. Ill, p. 589.
Foreclosure Proceedings.—Foreclosure proceedings were iastituted under
the 1st Mtge. and June 29 1920 was fixed as the date of sale, but the sale
has been indefinitely postponed as a result of legal action taken
by the
Bankers Trust Co., trustee for the Northampton-Easton A Wash. Trac. Co.
1st M. 5s, which are secured by bonds of the Northampton Traction Co.
a
ORGANIZATION.—Incorp. in Penn. Oct. 3 1902
Easton
as a
consolidation of
A Nazareth Ry. and Easton Tatamy & Bangor Street
Ry.
practically all the stock ($1,250,000) of the Northampton Easton &
Washington Trac. Co. (see that company below).
Franchises perpetual
In the latter part of 1915 absorbed the Bangor & Portland Ry.
operating
8H miles between the points named, and issued $137,000 additional ref. A
cons, bonds to effect the merger.
V. 102, p. 345.
cue
Owns
to
V. 107, p. 401.
ville from 6 cents to 7 cents and to
charge a 7-cent fare on the Belleville
Cityline.
V. Ill,
p.
1083.
Interest Payments.—The interest due Feb. 1 1919 on the A. G. A St. L.
Trac. Co. 1st consol 5s was paid in Aug. 1919.
The interest due Aug. 1
1919
was
paid Feb. 1
1920, but
see
under
"Sub Company Receivership"
above.
.
Financing.—On Dec. 28
1918
the
holders
of
$2,094,000 5-yr. 6%
conv. bonds, due Jan. 1
1919, were offered the privilege of exchanging their
holdings of said issue for new 7% conv. bonds, dated Jan. 1 1919 and due
Jan. 1 1921, similar in other respects to the 5-yr. 6s, at a cash discount of
1%. V. 108, p. 77. Under date of Mar. 21 1919 we were informed that a
large percentage had been so exchanged and we have therefore eliminated
the old issue from the following table.
In Sept. 1919 applied to the 111. P. U. Comm. for auth. to reissue notes to
pay off part of the co's. original debt in the amount of $400,000.
V 109,
p. 981.
_
[Vol. 111.
ELECTRIC RAILWAYS
u
STOCK AND BONDS—
Date.
Interat.
Outstanding.
Maturity.
Common. 110.000,000 ($100)
6.000.000
g
text
First pref, 6% cum—
...
..
Preferred *6.000.000 (*100)'
6.000,000 Feb"i§r%%
5% cum
1919
7 J-J
Convert
bonds
*3,000,000
2,116,000
Jan 1 1921
<*100, *500 & *l,000)-c*tf Penna.Co.for Ins. on L. & Gr.Ann.,Phila..tr.
Collateral trust mortgage *8,1902
6 g A-O
8,000.000 April I 1932
000.000 gold (*l,000)-c*tf Interest at St. Louis Union Tr. Co., Trustee,
or at E. W. Clark A Co., Philadelphia.
E St L A Sub By lmpt debs
1916
5 J-D
41.000
See text
*111.000 ($1.000).—c».tf Int. at office of company in East St. Louis,
A G A St Louis Trac Co 1st 1904
5 g F-A
2,500,000 Aug 1 1944
consol M, *3.000,000 gold Int. at Illinois State Tr. Co.. East St. Louis.
Trustee, or at National City Bank, N. Y
($1,000) ———c»tf
Alton Ry A Ilium first mtge
1895
5 g A O
250,000 Oct. 1 1939
*250.000 g ($1,000)—c*tf/Tnl. at Bankers Tr. Co., N. Y., trustee.
Alton Ry Gas & Electric Oof 1899
5 g A-O
250.000 Oct. 1 1939
mtge
*500.000
(*1,000)(Int. at Equitable Tr. Co., N. Y., trustee,
gold (closed) —._c*ntf[
No sinking fund; bonds cannot be called.
East St L Lt A Pow 1st Mf 1910
5 g J-D
1,172,000 June 1 1940
g, guar p A i (*1,000) e*tff Int. at Mercantile Tr.Co., St. Louis, Trustee,
I
Chase Nat. Bk., N. Y., and at co.'s office.
—
-
—
...
***«,
,
EL
PASO, TEXAS.
EL PASO ELECTRIC CO,—Incorporated in New Jersey and owns the
securities of the EI Paso Elec. By. Co., EI Paso A Juarez Trac. Co. and Bio
Grande Valley Traction Co., which do the entire electric railway, electric
lighting and power business in El Paso, Tex., and. Juarez, Mex., and oper¬
ate an electric railway between El Paso
and Ysleta.
Franchises in El
Paso
Railway franchise in Juarez expires to 1988,
expire in 1951 and 1952.
Interurban almost entirely on private right-of-way.
In 1909 increased
pref. from *500,000 to *1,000,000. V. 90, p. 109. In Mar. 1914 increased
authorized amount of com. stock from *2,000.000 to *3.000,000. V. 98,
p.
*525.000 com. stock Is owned by Pub- Service Investment Co.
proceeds being used to
Aug. 1 192u and for 1920 construction re-
839.
In June 1920 the co. issued *8001000 7% notes,
retire *300,000 6% notes due
V. Ill, p. 73.
quirements
Interest.
STOCK AND BONDS—
Date.
Common, *3,000,000 (*100)—
Q-M
—-
6 J-J
Pref *1.000.0006% n-c ($100)
Coll tr k (closed) *1.000.0001
Outstanding
Maturity,
*2,914.100 Sept.'20 2#
1,000.000 July'20.3%
1902
5 g J-J
1,000,000 Jari 1 1932
(*1.000) gold--.ctf lint, at State 8t Trust Co. . Boston trustee
5-year gold notes, $3,000,000/ 1920
7 g J-J 1
800,000 July 1, 1925
($100, $500 & $l,000-c*tf{ Guaranty Trust Co., N. Y., Trustee.
Stock.-*-$216,300 of the pref. stock reported as outstanding, is in treasury.
Stock.—The 5% cam. pref. may be exchanged at any time for 50% of
6% cum. pref. and 50% com. stock.
The 6% pref. takes precedence both
as
to dividends and assets over the 5% pref. and the common stock.
V.
97, p. 1822; V. 98, p. 304, 155.
Remaining *4,000,000 common stock re¬
served for conversion of 5% pref. stock and convertible bonds.
Bonds.—Coll.
trust
bonds
are
redeemable
on
any
tot.
day at 305 and
int. on 4 week's notice.
See V. 76, p. 382.
The conv, 7s are convertible
into an equal amount of 6% cum. pref. stock and in addition 33 1-3%
in common stock.
The East St. Louis A Sub. Ry. improvement deben¬
tures mature *10.000
each June and Dec. to Dec. 1921.
SI 11,000 have
been issued, of which J70.000 have been retired.
*500,000 of the Alton
Granite A St. Louis Traction first consols are reserved for prior liens.
They are also
lien
property of Alton Gas & Electric Co., which was
Louis Traction Co.. when the mtge.
was made.
*566,000 of the bonds have been assumed by the Alton Gas
A Electric Co.
No sinking funds, but bonds are §ubject to call on any
Int. date at 110 a id Int.
upon 90 days' notice.
The Alton Ry. A Ilium. 1st
M. 5s originally matured Oct. 1 1915, but were extended to October 1
1939.
East St. Louis Light A Power bonds are guaranteed, princi¬
pal and interest, by end., by East St. Louis A Sub. Co.; callable at 105 and
Int. on any Int. date on 30 days' notice.
Auth. issue unlimited, but addi¬
tional bonds are issuable only for 80% of the cost of add'ns and imp'ts, and
then only when net earnings are at least
times int. charge on bonds
out as well as those to be issued.
a
on
owned by the Alton Granite & St.
—
„
,
—.
ov.,
1H%.
Bonds.—Collateral trust bonds cannot be called and have no sinking fund.
The notes are callable as a whole at 100 and int. on any int. day on 30 days'
notice.
They were issued to provide for additions and improvements.
Notes.—Are to be secured by pledge of all the bonds, notes and stocks of
subsidiary operating companies subject to the lien of the closed *1,000,000
collat. trust bond issue maturing Jan. 1 1932.
Additional notes issuable
only under certain restrictions.
Are red. all or in part at any time on 45
days notice at 103 and int. before July 1 1921; 102 and int. July 1 1921 to
June 30 1923; 101 July 1 1923 to June 30 1924; 100 July 1 1924 to maturity.
Penna. 4 mill tax refunded.
V. Ill, p. 73.
Dividends.—First dlv.. 3%, on prer. stock, was paid Jan. 12 1903, and
3% paid s.-ian. since.
On com., 1st dlv., 2%, Mar. 1910; Sept., 2; in 1911
5%; in 1912, Mar.. 3%; Sept., 3H%; in 1913. Mar.. 3**%; in June 1913
began to pay quar. divs. andpald 2%; also Sept., 2%; Dec., 2%; Mar. 1914
to Sept. 1915, 2H % quax.; Dec. 1915 to Sept. 1920, 2Yi % quarterly.
EARNINGS.—Of combined companies for 12
Year—
1919-20
1918-19
—-
Gross.
Net aft Tax.
$1,735,272
$542,164
1,378,259
391,052
months ending June 30:
Interest. Sink. Fund
$96,482
85,058
—
ROAD.—51.5 miles of equivalent single track; standard gauge.
cars,
Surplus
$445,681
305,994
86
pass,
Power station has capacity of 10,700k.w.
6 trailers and 6 other cars.
OFFICERS.—Pres., C. F. W.
Wetterer;
V-P. Joseph Remick;
Treas., Henry B. Sawyer; Sec., Geo. A Pierce; Gen. Mgrs., Stone A Web¬
ster Mgt. Assn.—V. 105, p. 497; V. 106, p. 395, 2010; V. Ill, p. 73.
...
May rat© was reduced to % % (V. 100, p. 1437); same rate quarterly to and
IncL Feb. 1918.
None since.
,
;
EARNINGS
.
of operating
companies for 12 months ending June 30
(excl. Alton Granite A St. Louis Trac. Co. and Alton Gas A Elec. Co.)
Year—
Gross.
Net aft. Tax. Int., &c. Pref. Dir.
Sur.orDef.
1919-20
$3,643,759
$814,227
$658,066
sur.$156,161
1918-19
3,315,017
767,474
—
665,24^
—
sur.102,226
ROAD, Ac.—Operates 195 miles
of single-track,
of which 4 miles
operated under lease.
Has 169 passenger cars, 4 express cars, 827 freight
21 work cars and 3 snow sweepers. 2 electric and 2 steam locomotives.
Passengers carried in 1919, revenue, 41,026,561; transfer and others, 7,349,421; in 1918, revenue, 40,398,847; transfer and others. 7,831,805.
HaS
two power stations with 15,600 k.w. capacity.
Has 95 miles of high-tens
transmission lines.
Also has contracts for power with Mississippi River
power Co. and Union Elec. Light & Power Co.
ears.
ERIE, PA.
NORTHWESTERN ELECTRIC SERVICE CO. OF PENNSYLY
ORGANIZATION.—Incorp. Feb. 29 1916 In Penn. for the purpo
developing the light and power business adjacent to the Northwestern Penn
Ry. Co.'s lines.
Leases Tor 99 years from 1916 the property of the Peoples
Incandescent Light Co.
Wholesale power is furnished to the Northwestern Pennsylvania Ry. Co.
for the operation of its entire lines; to a local company for distribution at
Albion, Springboro and Conneautville; to the Conneaut Lake Co. and to a
local distributor for the Borough of Conneaut Lake and territory on east
side of lake.
Has a contract for wholesale power service to the Borough of
Girard.
Authorized.
Capitalization—
OFFICERS.—Pres., C. M. Clark; V.-P's. H. L. Clark and E. W. Clark;
Sec., G. L. Estabrook; Treas, T. W. Gregory; Asst. Sec. C. A. Pearson, Jr.
Under the management of E. W. Clark & Co. Mtg. Corp., Phila.
V. 109,
p. 676, 887, 981; V. Ill, p. 188, 294, 389, 588, 1083, 1275.
Common stock--8eCond preferred stock, 6% non-cumulative
First preferred stock, 7% cumulative.-
$1,500,000
500,000
500,000
—
Issued.
None
$206,500
An additional $100,000 of first
pref. stock has been authorized by direc¬
be issued and sold, the proceeds to be used in payment for properties
purchased and extensions and betterments.
$20,000 has been subscribed
and paid, for making $226,500 outstanding.
tors to
ELMIRA, N. Y.
PROPERTY.—50 miles of 33,000 volt transmission line between Erie
ELM IRA WATER, LIGHT & RAILROAD CO.—Controlled by the
United Gas A Elec. Co.—See United Gas A Elec. Corporation under N. Y
ORGANIZATION.—Incorp. in New York May 26 1900
as a consolida
Mod of all the water, lighting, power and street railway properties in Elmira
Own entire cap. stock of Rorfck's Glen Park Assn. and
majority of stock of
West Water St. RR.
The latter co. operated under 999-yr. leases. In
April
1913 it
stated that all franchises have at least 72 years to run, while
some of them are perpetual.
In Feb. 1910 was auth. to acquire all stock
of Montour Falls Electric Light Co.
In Sept. 1914 absorbed the West Side
RR., all of whose stock was owned.
V. 99. p 815.
On Mar. 17 1914 the stockholders authorized the creation of *3,000.000
7% cum. first pref. stock.
In 1915 sold the water supply system to the city of Elmira for *1,500,000
the proceeds, together with the proceeds from the saie of $232,000 5% cons
1592
In June 1916 the P. S. Comm. auth. (a) the absorption of the Elmira
p.
Transmission Co. and the Elmira A Seneca Lake Trac. Co, all of whose
stocks and bonds were owned, and (ft) the Issuance of *100,000 1st cons. M
5s at not less than 92H and *125,000 1st pref. stock and $200,000 2d
pref
stock at par, to pay floating debt, for construction. Ac.
In 1917 the P. S. Comm. auth. the co. to issue $450,000 additional 1st
consol. M. 5s to provide for the
construction of
STOCK AND BONDS—
Date.
($100)
1st pf, $3 J)00.000 (7% cum)
2d pref 5% cum $1,200.000--.
1sti con mortgage $5,000,0001 1906
($1.000)
gc*tf/Interest
Interest.
Common $1,000,000
7 Q-M
a gas plant.
Outstanding
Maturity
$1,000,000 8ept l7. 1%
1,400,000 Sept '20. 1 %
1,200.000 Sept '20, 1A
4,107,000 8ept 1 1956
at New York Trust Co., Trustee
ROAD, Ac.——Comprises 48,214 m.of single track in Elmira
and connecting
Heights, Southport and Horseheads. from
Horseheads to Watkins (via Millport and Montour Falls), to Seneca Lake.
Has 90 passenger and 18 other cars.
75 to 110-lb. T and girder rails.
Owns Borick's Glen Park and Maple Ave. Driving Park.
the suburban towns of Elmira
Gas Department.—Has
74.5 miles of natural
gas
mains.
W Electric Dept.—Two 5,250 k.w. turbines and four 750 h.p. boilers.
Old
power station has 4.250 k.w. capacity, with new 823 h.p. boiler and three
800 k.w. step-up transformers; total capacity 16.400 k.w.
Electric dept.
serves Elmira, Elmira Hts., Southport, Wellsburg, Chemung, Big
Fiats,
Horseheads, Pine Valley, Millport, Montour Falls and Odessa; sells power
Corning Lt. A Pow. Corp. and the Elmira Corning A Waverly Ry.
to the
P EARNINGS.—
Cal. Year—
1917
North
Girard,
Linesville and
Harmonsburg,
all
OFFICERS.—Pres., F. F. Curtze; V.-Pres. A Gen. Mgr., Chas.
Hatch; Treas., A. A. Culbertson; Sec., A. O. Chapin.—V. 105. p. 499.
in
M.
-•
Cross
Earnings.
$1,567,616
1,399,559
1.261,302
Net (after
Taxes).
$500,366
457,951
489,867
Fixed
Charges.
$248,157
247,060
234.592
Surplus for
Renew.,Ac.
$252,209
210.891
255,275
OFFICERS.—Pres.. E. G. Connette; V.-P., Geo. Bullock; 2d V.-P. A
Gen. Mgr., F. H. Hill; Sec. A Treas., O. A. Kolstad; Asst. Sec., J. A. McKenna; Asst. Treas., A. L. Linn Jr.—V. 107. p. 805.
NORTHWESTERN PENNSYLVANIA RY.
ORGANIZATION.—Organized early in 1920 to take
over
the so-called
Northern Division, of company of the same name, sold at receiver's sale on
Dec. 29 1919.
For history of predecessor company see "Electric Railway"
Supplement of April 24 1920.
known
now
as
the Crawford
The Southern Division of the old company,
Railways Co. (see below), is now
County
operated under lease.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Capital stock—No data available.
f 1907
5 g J-.T
• $500,000 July 1 1929
gold
c*tf\Int. at Secur. Sav. A Tr. Co., Erie, Trustee
Equipment notes $60,000—f 1217
6 F-A
30,000
See text
\Erie Trust Co., Erie, Trustee.
Erie Trac (Erie Div) $500,000
-
Bonds.—The Erie Traction bonds have a sinking fund of $20 for every
$1,000 first mtge. bond, which began July 1 1917 (aenom. $1,000, $5,000
The equipment notes mature $10,000 yearly Aug. 1 1918
and $10,000).
to
1923.
EARNINGS.—For years ending Dec. 31:
Calendar
Year—
1919
Dividends.—On 1st pref., 1 H% quarterly Is being paid.
On 2d pref.
2H% paid Bemi-ann. from Sept. 1907 to and incl. Mar. 1914.
On July 1
19141 2-3% was paid, covering four months, and in Oct. 1914 dlv. of 1A %
was paid, the annual rate being 5%, payable
guar, instead of semi-anni.
(V. 99, p. 608). Same rate quar. since to Sept. 1920.
On com., 1st div.—
1%—paid Oct. 1910.
In 1911.1912 & 1913,4%.
In 1914, Oct., 2%.
In
m5, Jan., 2 %; AprU,1 %; July, 1 %.
In June 1916 paid 2% for 6 mos. end.
Dec. 31 1915 (declared in Dec. 1915) and 2%-for 6 mos. end. June 30 1916
In Sept. 1916 paid 1%; Dec. 1916, 2%; Sept. 1917,
1%; none since.
1918
Fairview,
5 Q M
5 g M-8
Stock.—First pref. Is red. at option of co. at 115 and dlv.
1919
McKean,
Erie and Crawford counties, Pa.
was
M. bonds, being used to retire the $1,661,000 5% bonds due Jan. 1 1949
which were called for payment at 105 and int. on July 11915. V.100
_
and Harmonsburg. Pa., with a branch between Erie and Kearsarge, Pa.
Distribution lines in Saegertown, Venango, Cambridge Springs, Edinboro,
1918
1917
Gross
Earnings.
r--_—
—-
—
-
Net
Interest, &c.
Earnings.
Taxes.
Sink.
Fund.
Surplus or
Deficit.
$411,528
$76,260
$104,466
$21,500
def.$49,706
380,693
348,337
66,131
59,327
120,110
116,304
19.417
19,000
def. 73,396
def. 75,977
ROAD.—Owns and operates 40.2 miles between Meadville and Erie.
Operates under lease the lines of the Crawford County Rys. Co.
OFFICERS.—Pres., F. F. Curtze; V.-P. A Gen. Mgr., Charles M.
Hatch: Sec., A. O. Chapin; Treas., A. A. Culbertson.
General office,
Erie, Pa.—V. 109, p. 1273, 2172, 2263; V. 110, p. 167, 2388.
(1) Crawford County Railways Co.—Operated by Northwestern Penn¬
sylvania Ry. Co. under the lease.
ORGANIZATION.—Organized early in 1920 to take over the Southern
Division of the old Northwestern Pennsylvania Ry. Co.
The co. owns all
the
capital stock of the People's Incandescent Light Co.
Reorganization.—Under date of Oct. 20 1920 we were informed that a
plan for the reorganization of the co. was then in the process of accomplish¬
ment.
The plan (for full particulars see "Chronicle
of Oct. 30 1920) pro¬
vides for a reduction of 50% in the bonds outstanding on this division.
As collateral security for this mortgage, there will be deposited with trustee,
all of the stock, $145,000 par value of the People's Incandescent Light Co.
(the same stock as held by trustee of present railway mortgage).
The new
mortgage will bear interest at 6% and interest payments together with sink¬
ing fund for retirement of mortgage in approx. 40 years will be provided for
by rental payments under two leases as follows:
(1) Lease of the People's Incandescent Light Co. property to the North¬
western Electric Service Co. of
Pennsylvania at an annual rental of $26,000.
(2) Lease of the property of the Southern Division of Railway company to
Pennsylvania Ry. Co. (Northern Division) at an annual
rental of $9,000.
The above leases will run for a neriod of 99 years and will carry certain
options for purchase under terms fully protecting bondholders.
Thisiplan
was expected to be consummated by Jan. 1 1921
the Northwestern
Oct., 1920.J
ELECTRIC
STOCK AND BONDS—
Date.
Interest.
Capital stock—No data available.
Outstanding.
Maturity.
Northwestern Pennsy Ry 1st)* 1911
6 g M-S
.$700,000 Mar 1 1941
mortgage $1,250,000 gold j-Interest at Central Trust Co., New
York,
( 1,000)
___c*tfj
Trustee.
RAILWAYS
45
OFFICERS.—Chairman, A. F. Harges; Pres., W. H. McCurdy; V.-P.,
W
A. Koch; V.-P. & Gen. Mgr., W. A. Carson; Sec. &
Treas., C. H. Battin.—V. 108, p. 378; V. 110, p. 2487,
Dep.&TitleIns.Co.,Trus.
(1) Henderson Traction.—Street railway.
Acquired by Evansville Rys. (succeeded in 1919 by Evansville & Ohio
Valley Ry. Co.) in April 1913.
V. 96, p. 1488.
Bonds.—Of the first mortgage of
1911, $150,000 are reserved to retire
liens, remaining bonds are for improvements, extensions and acquisi¬
under certain restrictions.
Tax-exempt in Pennsylvania.
Subject
to call on any interest date at
105 and interest. Annual sinking fund
ORGANIZATION.—Incorp. In Kentucky Feb. 22 1907 as a successor
to the Henderson City Ry., sold at foreclosure on Feb.
18 1907.
Franchise
originally extended to 1936.
In 1918, however, a new 20-year franchise
was granted the co. which
provides for a 7-cent cash fare or 4 tickets for
People's
Incandescent
Light!
1900
5%
Co 1st mtge_..__—_— _tf
J Dela.Co.Tr.Safe
150,000
Dec
1
1920
prior
tions
of 1% of bonds out
V. 92, p. 1033, 1436.
began Nov. 1 1914.
Bonds retired to be kept alive.
25 cents.
ROAD.—Owns 10.3 miles of track in Meadville and 15.7 miles between
Meadville and Linesville, including a 2-mile extension to Conneaut Lake.
ESCANABA, MICH.
Date.
Interest.
Outstanding.
Maturity.
Stock. $150,000 ($100)
$149,800
First
mortgage,
$150,000(1907
5 g A-O
105,000 Apr. 15 1927
($1,000, $500, $100) gold tf\lnt. at Ohio Bkg. & Trust Co., Henderson,Tr
Bonds.—$133,000 bonds issued but $28,000 held in treasury.
Remaining
$17,000 are reserved for extensions and improvements.
Subject to call on
April 15 1922 at 105.
No sinking fund.
—
ESCANABA TRACTION CO.
Reorganization.—We understand that the co. has been reorganized as the
Escanaba Power & Traction Co.V. Ill, p. 188 JFurther information
lacking,
ORGANIZATION.—Reorganization In Aug. 1909 of Escanaba Electric
St. Ry. and Escanaba Power Co.
Controls the Escanaba Pulp & Paper
Co.
Does electric light and power business in Escanaba, Gladstone and
Wells, Mich.
Is allowed to carry freight.
STOCK AND BONDS—
Common stock $200,000
Date.
Interest.
Outstanding.
Maturity\
$200,000
500,000
1909
5 J-J
540,000
See text
($1,000)
c*.cot)Int. at First Sav. & Trust Co., Milwaukee.
Second mtge, $200,000
gold/ 1909
5 g A-O
200,000 Jan. 1 1934
($100 & $1,000) _c*&r_cpt{Michigan Trust Co., Grand Rapids, Trustee.
Red. at 103 and Interest
(Int. at First Trust Co., Milwaukee.
Pref stock $500,000
1st & ref intge $600,000 gold l
-
Bonds.—1st & ref. bonds
Incl., remainder in 1934.
call at 103 and int.
V.
rustee.
92,
on
.
V.
Dec. 31:
Net.
*Oth. Inc.
$56,518
$10,000
98,631
5,000
77,023
18.614
Pulp & Paper Co.
$174,421
183,251
142,141
♦Earnings from Escanaba
ROAD.—Owns and
Interest.
Surplus,
$29,929
$36,589
38,097
38,857
65,534
operates street railway in Escanaba and
an
CAL,
U
HUMBOLDT TRANSIT CO.
ORGANIZATION.—Incorporated In California Ju»y 31 1903.
Fare Increase.—In Sept. 1918 was auth. by the Nev. RR. Comm. to
increase fares to 6 cents.
Y. 107, p. 1287.
The co. has applied for au¬
thority to increase fares to 10 cents V. 109,
p.
2172.
Default in Interest & Sink. Fund Pay'ts.—The
unable due to lack
of funds, to pay the int. on its bonds due Oct. 1 1919 and the amount due
the sink, fund to redeem 2% of these bonds also due Oct. 1919.
V. 109,
p. 2172.
Y
STOCK AND BONDS—
Stock $1,000X00 ($100)-.
Bonds
are not
Date.
co. was
Interest.
6 g A-O
c&r_ntl(Union Trust Co.
Outstanding.
1363.
"
ROAD.—Owns 12miles of street railway In Owensboro and
suburbs;
70-lb. rail; 30 motor cars, double West., 68 G. E.
800; 7 trailers,
10 ton and 5 25-ton coal cars.
Power house 000 k. w. capacity.
V. 90;
56 and
25
1364; V. 105. p. 2273.
p.
ORGANIZATION.—Incorporated in Indiana
in Dec. 1888, with
a
Fares.—In Oct. 1920
to 3 cents per mile.
was
auth. by the Ind. P. S. Comm. to increase fare3
STOCK AND BONDS—
Dale.
Interest.
Outstanding.
Maturity
Stock, $500,000 ($100)
$307,400
b
1st mortgage, $500,000, gold f 1904
goldf
5 g J-J
472,500 July 1193
($500 and $1,000)
c*tfiInterest at Evansville Trust & Sav. Co
I
Trustee, or Nat. Bank of Commerce. N.Y
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
Net {after Taxes). Deductions.
def$495
13,481
3,870
$89,285
81,643
78,181
Deficit.
$14,757
2,431
$14,261
15,912
14.513
10,643
ROAD.—Comprises 12 miles of track in city of Eureka. 45-60-lb. T rails.
OFFICERS.—Pres., Wm. Butterworth; V.-P., Lloyd Baldwin; Sec. and
Treas., Horace R. Hudson; Mgr., J. W. Hale.—V. 109, p. 2172.
EARNINGS.—For
year
1919, gross, $224,260; net, after taxes, $43,805*
In 1918, gross, $240,217; net, after
taxes, $56,248.
J
ROAD.—Operates 25 miles of track from Evansville to Newburgh, with
branch off the main line through Stevens Station and Chandler to
Boonville; has also 5 miles of side-track; total, 30 miles.
70 lb. T rails.
a
OFFICERS.—Pres. & Gen. Mgr., Gus Muhulhausen; V.-P. & Treas..
Chas. W. Cook; Sec., Jas. E. Cox.—V. 83,
p. 271; V. 96, p. 1365.
FAIRMONT, W. VA.
MONONOAHELA
VALLEY
TRACTION
CO.
ORGANIZATION.—Organized In W. Va. on May 18 1912.
Is a con¬
solidation of Fairmont & Clarksburg Trac. Co., Fairmont &
Northern
Trac. Co. and Clarksburg & Weston Elec.
Ry.
On Dec. 1 1915 acquired
the Fairmont Gas Co.
V. 101, p. 1465.
On April 1 1917 absorbed by
merger the Fairmont & Mannington Trac. Co., formerly
controlled, that
co.'s $600,000 5% pref. mortgage bonds dated Jan. 1 1906
(all owned by
Monongahela Co.) oeing canceled.
On June 30 1917 acquired control of
the Kanawha Trac. & Elec. Co. (now known as the
Parkersburg-Marietta
Division) which see under "Parkersburg, W. Va.," through
ownership of
approximately 96% of its stock. V. 105, p. 290. The co. has since acquired
all the outstanding common and pref. stock of that co. Owns all the
stock of
Fairmont By-Products Corp., incorp. in W. Va. in
May 1918 to build a
$5,500,000 coke oven plant and an industrial city to cost $750,000.
V. 100,
p.
2450.
Owns
/
and
|
operates a system of electric railways In
W. Vai
EVANSVILLE, IND.
EVANSVILLE & OHIO VALLEY RAILWAY CO.—Incorp. In Indiana
acquired on Feb. 20 1919 the properties of the Evansville
Railways Co. (for history see this publication for Sept. 1918), in accordance
with the plan of reorganization set forth in detail in V. 107, p. 2289; with
the exception that the plan as revised by the Ind. P. S. Comm.provided
for the issuance of only $300,000 com. stock and $200,000 pref. stock, in¬
stead of $1,000,000 com. and 8500,000 pref. as originally planned.
The
co. has acquired the stocks of the Henderson Traction Co. and the Owenboro City RR. Co., both of which had been owned by the Evansville Rys.
Co., and has also acquired in fee the Evansville Henderson & Owensboro
Ry. Co., which operates a line between Evansville, Ind., and Henderson,
In Dec. 1918 and
\are
Increase.-*-In Sept. 1918 was auth. by the I.-S. C. Comm. to in¬
fares between Evansviile, Ind., and Henderson. Ky.. and interme¬
diate points not exceeding 10%. V. 107, p. 1192.
In June 1920 was auth¬
orized by the Ind. P. 8. Comm. to charge a 6-cent fare and to sell tickest
crease
V.
110, p. 2487.
April 5 1919 the co., with the auth. of the Ind. P. S. Comm., filed
two deeds of trust: (1) for $750,000 issued to secure a gen. mtge. on 30-year
Income bonds; trustee, Mercantile Trust & Sav. Bank, and (2) for $1,200.000. securing an issue of 30-year 5% 1st & Ref. Mtge. gold bonds, American
Trust & Sav. Bank, trustee. V. 108, p. 1610.
On
STOCK AND BONDS.—
Common $1,000,000 ($100)
Pref. $500,000 n-cum ($100)
1st M $200,000 skfd gold
1st & Ref $1,200,000
at
102H
on any
Date.
Interest.
Outstanding.
Maturity.
$300,000
6%
200,000
/ 1919
6 J-J
See text Jan
11949
\Cont. & Comm. Tr. & S. Bk., Chic., trustee.
callable/ 1919
746,600 Jan
5 J-J
1 1949
int. date__tAm. Tr. & Sav. Bk., Evansviile. trustee.
General Mtge Income
bonds/ 1919
see text
...
_
746,200 Jan
1 1949
not
par
Bonds.—$6o,000 of the 1st Mtge. bonds had been issued to Oct. 1 1920.
Sink, fund of $2,500 per annum starts in 1929 and continues for 10 years,
and thereafter the sk. fd. retires $5,000 per annum.
Callable at 103 during
the 1st 10 years; 102 during the 2d 10 years, and 101 during the 3d 10 years.
Should
no
1st Mtge. bonds be issued, then the sinking fund provided for
their retirement will be
income bonds draw
earned.
int.
applied to the 1st & Ref. bonds.
at
not
to
exceed 5%
The
mtge.
per annum and ODly when
gen.
Int. not cumulative.
Notes.—In addition to the amount reported
Issued and are held in the treasury.
outstanding, $97,100 have
been
EARNINGS.—Of Evansville Railways Co. for cal. year 1919 (not incl.
Hend. Trac. and Owensboro City RR.), gross, $407,685; net, after taxes,
$118,534.
In 1918, gross, $330,743; net, after taxes, $67,955.
ROAD.—Operates between Mt. Vernon, Evansville, Henderson, Rich¬
land and Grandview.
Operates 70.68 miles of track, of which 56 miles
are owned in fee, 7.22 miles are leased, 7.46 miles trackage rights.
Has
4.32 miles of sidings; total mileage 75 miles.
70-lb. T-rau,
Gauge 4 ft.
8H inches.
.
Bonds.—A sinking fund of $2,500 per annum commenced
July 1 1910
which will retire bonds at 105.
All or any
part of bonds redeemabl
after 15 years at 105.
$27,500 have been retired.
V. 90, p. 1305.
Maturity
Cal.
at 20 for $1.
a per-
>oo8
Eetual charter.freight business hauled by electricity and freight by steam.
car-lot
Pass, and express business. Has private right-of-way.
172,000 Oct 1 1934
of 8an Fran., Trustee.
In addition to amount reported outstanding, $48,000 of bonds are pledged
collateral for a $20,000 note to the First National Bank of Eureka and a
$4,000 note to Wm. Butterworth.
-
p.
STOCK AND BONDS—
A sk. fd. of 2% of bonds out began Oct. 1910.
subj. to call.
—
V. 90,
$500,000
($1,000)1
as
1918
1917
1916
railway.
Date.
Interest.
Outstanding.
Maturity.
Common, $75,000> (par $50)-$75,000f.p
1st
mtge.,
1902
$200,000,
5 g J-J
gold
200,000 Jan. 1 1932
($1,000), c&r, not red.. tf Interest at Louisville Trust Co., Trustee.
General mortgage,$200,OOOtf
1910
6 M-N
200,000 May 1 1933
,Araer. Tr. & Sav. Co., Evansv., Ind., Trustee
EARNINGS.—For cal. year 1919, gross, $98,490; net,
$18,233; in 1918,
gross, $82,378; net, $17,062.
inter-
Power
OFFICERS.—Pres., J. K. Stack: V.-P., J. O. Kirkpatrick; Sec. & Gen
Mgr., P. L. Utley; Treas., M.N. Smith, all of Escanaba.—V. Ill, p. 188.
EUREKA,
street
EVANSVILLE SUBURBAN & NEWBURQH RY.
Slant additional 7,900 was completeddam on 1916.
A new Jan. 1 Escanaba River, providing
,400 capacity,
h.p., h.p.
gold
ROAD.—Operates 6 miles of
(2) Owensboro City Railroad.—Street railway.
Acquired by Evansville Rys. (succeeded in 1919 by Evansville & Ohio
Valley Ry. Co.) in April 1913.
V. 96, p. 1488.
ORGANIZATION.—Chartored In 1886%
Franchise runs till 1936 and
gives exclusive rights to operate street railway In said city.
Arrangements were made in Nov. 1917 through which the holders of the
$200X00 6% Gen. Mtge. bonds agreed to forego their interest for the next
three years, the $36,O0O so saved being used in
improving the system.
56,779
urban road to Gladstone, which was placed in operation in July 1910.
1st mtge $1,000,000
EARNINGS.—For cal. year 1919, gross, $44,831; net, $4,502; In 1918.
$39,735; net, $9,014.
gross,
ending
years
Gross.
1918
1917
1916
$10,000 annually from 1914 to
1933.
They are subject to
date.
Michigan Trust Co., Grand Rapids,
103, p. 406.
$60,000 have been retired.
any int.
1564;
p.
—
mature
EARNINGS.—For
Year—
•
STOCK AND BONDS—
i
and
Ohio
and coal
In
other
1.
Intaron private right of way.
Franchises over county roads and
bridges In Marlon and Harrison counties are perpetual.
Fare Increases.—Effective April 1 1918, was auth.
by the W. Va. P. 8.
.
.
..—„
urban lines
Comm. to Increase rates on the interurban lines of the
Fairmont-Clarksburg
Division an average of 20%.
In June 1920 the W. Va. P. S. Comm. auth.
increase of 2 cents in fares. V. 110, p. 2487.
an
In Sept. 1918 issued $5,500,000
5-year 7% gen. mtge. bonds to retire
$2,829,000 1-year notes due Feb. 1 1919 (called for payment on Oct. 7
1918 at par and int. at the Fidelity Trust Co, of
Baltimore), complete the
construction of the $2,000,000 power plant
being erected at Riverville
and for various other add'ns, extensions, &c. V.
107, p. 1004,1287, 2009.
In May 1920 issued $2,000,000
1-yr. 7% notes to retire a like amount of
1-yr. 6s due June 1 1920. V. 110, p. 2193.
STOCK AND BONDS—
Dale.
Common $12,000,000 ($25)
Pref. 6% cum. $4,000,000(125)
Interest.
Outstanding.
Maturity.
$8,279,637 Oct'18, 1H
3,357,978 Oct'20,
1912
4.250,000 June 1 1942
($500 <Sr $ 1,000)., c*&r*tff Fidelity Tr. Co.. Bait.. Trus.
Int. in N. Y.
Gen mtge $15,000,000 ($100,1
1918
7 g J-J
5,987,000 July 1 1923
$500 and $1,000) g
ctff (Central Union Trust Co. of N. Y., Trustee.
One-year notes ($1,000 and) 1920
7gQ-F15
2,000,000 May 151921
$5,000) gold
ctff (
Fidelity Trust Co., Baltimore, Trustee.
Fairm A Clarksb 1st M,
$2.-1 1903
5g A-O
2,500,000 Oct
1 1938
First & ref M, $15,000,000, gi
Q-J
1$
6 Q-J
5 J-D
500.000 g ($1.000)--c»ntf(lnt. at Guaranty Trust
Co., N. Y.. Trustee.
Stock.—Pref. stock is convertible into common
stock, share for share. In
June 1917 the auth. capital stock was Increased from
$9,500,000 com. and
$3,000,000 pref. to $12,000,000 com. and $4,000,000 pref.; the
par value
of the shares was changed from $100 to $25
each, and
6% pref. stock
was
issued in place of the 5% stock, the
preferred shareholders being given the
right to convert their 3tock Into 6% stock on the basis of 3 9-25 shares
of
6% stock (par $25) for each share of 5% stock (par $100).
V. 105, p. 290.
Application has been made to list both the com. and pref. stocks on the
N. Y. Stock Exchange.
Bonds.—Of the 1st (& ref.) bonds, $2,500,000 are reserved to
retire prior
are deposited under the gen. mtge. and
$2,250,000 are
liens, $5,753,000
for add'ns and ext's under certain
restrictions.
Red. at 105 and int.
int. day on or after June 1 1922.
Tax refund, in Pa.
See
1346; V. 94, p. 1508.
The gen. mtge. bonds are secured by
approx. 99% of the com. and 93% of the pref. stock of the
Traction & Electric Co. and $5,753,000 1st & ref. mtge. bonds.
any
V.
102,
on
p.
pledge of
Kanawha
As further
1st & ref. bonds are Issued they also will
bepledged under the general
mortgage and no additional Kanawha Trac. & Elec. 1st & ref. mtge. bonds
be issued (except for refunding underlying bonds) unless
pledged
under the general mortgage.
$113,000 gen. mtge. bonds have been retired
by sink. fund.
Additional gen. mtge. bonds may be issued for 75% of the
cash cost of ext's, add'ns and impts. under certain conditions.
A depletion
charge of 20c. per gross ton of coal mined and 3c. per 1,000 cu. ft. of natur a
gas sold is to be included in operating expenses, these amounts to be pa
into a sinking fund for the purchase or red. of gen. mtge. bonds. The co. al
covenants to expend or reserve annually for deprec. & maint. a sum equal
C % of ry. gross earnings & 15 % of gross earnings from the sale of electric! t
ELECTRIC
46
be registered as to principal.
Rod. all or part on
notice atjlOl and int.
Int. payable in New York or Baltimore.
107, p. 1004.
Fairmont A Clarksburg 1st mtge. bonds subject to call
at 105 and int.
Listed on Philadelphia Stock Exchange.
Notes.—The 1-yr. notes are exchangeable at 100 and int. any time before
maturity or redemption into gen. mtge. 7% bonds upon the following terms,
if, as and when additional bonds are issued: prior to Nov. 15 1920 at 964
and int.; thereafter to maturity at 97 and int.
A sinking fund of $30,000
The $1,000 bonds may
4 weeks'
V.
monthly to be applied to tho purchase of these notes at not exceeding 100
and int. is provided for.
Red. all or in part at 100 and int. any time upon
.30 days notice.
Co. assumes payment of normal Federal income tax not
in excess of 4%.
V. 110, p. 2193.
Dividends.—5% was paid on the pref. stock to June 30 1917, when the
div. rate was changed to 6%.
Same rate has been paid quar. since to
and incl. Oct. 1920.
See remarks above.
Initial dividend on common
—2%—paid Jan. 1913; July 1913, 14%: Oct., 14%.
In 1914, Mar.,
1 4%; July, 1 4%.
In 1915. none.
In 1916, 4%.
In Jan. 1917 paid
1% cash and an extra dividend of 6% in common stock; April, 14%;
July. 14% regular, and in Aug. an extra dividend of 14%; Oct., 14%.
In 1918, 5%.
None since.
EARNINGS.—For year ending Dec. 31 (1919 report in V. Ill, p. 290):
Gross.
Exp.& Taxes.
Net.
Fixed C1iqs. Surplus.
Year—
$4,418,700
$3,021,017
$1,397,682
$782,687
$614,995
1918
3,787,328
2,613,660
1,173,669
581.865
591,804
i
Total surplus Dec. 31 1919 after deducting pref. divs., $200,950; addi¬
tional depreciation during 1918, $106, 884 and $7,160 for adjustments was
$588,345.
1919
ROAD.—Operates
of
(exclusive
Traction
Kanawha
Electric
A
Co.,
W. Va.") street railways In Fairmont,
W. Va., and in ClarksburR
W. Va., and an interurban line of 25 miles
connecting the two with various small branch lines; also lines from Fair¬
mont to Fairview, 14 m.; Clarksburg to Bridgeport. 7.6m.; Fairmont to
Mannington, 17 miles, and Clarksburg to Weston, 24 m.; total track in
operation, 116.57 miles.
An extension from O'Neil to Wolf Summit,
24 miles, was placed in operation on July 12 1917.
Standard gauge.
Strand 85-lb. T rail.
The co's. electric properties comprise 3 stations with
an1*aggregate capacity of 42,000 h. p., which is to be further increased by
an(additional 27,000 h. p. unit now being installed.
which
see
under
"Parkershurg,
Watson; Pres., G. M. Alex¬
OFFICERS.—Chairman of Board, J as. O.
[Vol. 111.
RAILWAYS
Fare Increase.—Effective Jan. 16 1920, the co. was auth. t>y the Ark.
Corp. Cb^im. to increase fares to 6 cents cash, 9 tickets for 50 cents and
19 tickets for $1.
V. 110, p. 464.
STOCK AND BONDS—
Prei $5,000,000 ($100) 7% cum
First mortgage $6,000,000 gf 1911
s f ($500 and $1,000)
Int. at
c*j
I
Maturity
Outstanding.
$950,000
Interest.
Date.
Common, $1,500,000 (5100)--
See text
1.410.000
Q-J 15
5 g M-S
1 1930
2,570.000 Mar
Illinois Trust A Savings Bank, Chic..
Trustee, or at agency of co. In
N.Y. or Bos
1918
5 M-S
1,000,000 Sept 1 1921
/Int. at Cont.ACom.Tr.& S.Bk., Chic., trus.
Second mortgage $1,000,000.1
alter 3 years from issue
110 and accrued div.
Remaining 1st M. bonds can only be issued rof
75% of cost of additions, improvements and extensions under certain re¬
strictions.
See V. 92, p. 956.
8ubj. to call as a whole or in part on any
int. day at 105 and Int.
Cash sink. fd. of 1% yearly 1914 and 1915, 1 Vt%
yearly 1916 to 1918, 2% yearly 1919 to 1923 and such ratable amount#
thereafter as by July 1 1935 will make total sk. fd. 40% of bonds certified
V. 92, p. 956.
$362,500 have been retired.
Stock and Bonds.—Pref. stock Is red. at any time
at
Dividends.— Pref. is
cum.
from Jan.
1
1st div. on pref.—14%-—
1912.
paid April 15 1910; July, 14%: Oct.. 14% and 14% quar.to and
ing April 1913; none since.
EARNINGS.—For years ending Dec. 31;
Calendar Year—
Gross.
Net. aft. Tax.
„-$850,365
1918
693,981
Balance.
Int.Chgs.(Net)
$218,553
$280,387
1919
sur.
206,296
230.930
Includ¬
$61,834
24,634
sur.
Latest
Earnings.—For 12 mos. ending Aug. 31:
1919-20
$1,008,721
$292,370
1919-19
768,100
253,524
-
216.944
—
ROAD.—Owns and
Ft. Smith and suburbs.
sur.$63,000
sur. 36,580
$229,370
operates 30 miles of track on 12 miles of streets in
Standard gauge, 60-lb. and 80-lb. T rail.
47 cars
Owns a park of 110 acres.
Also gas works for distributing natural and arti¬
plant Is held In reserve) with 131 m. of mains, and
electric power and lighting plant—generating capacity. 8.600 horse-power
and pole line of about 169 miles.
ficial gas (artificial gas
OFFICERS.—Pres., A. 9. Huey: V.-P., H. M. Byliesby: Vire-Pres. A
Mgr., D. C. Green; Sec., Aud. A Treas., R. E. Ballard: Gen. Mgrs.. H. M.
Byliesby A Co., Chicago.—V. 110, p. 464, 2487, 2657.
Miller; Gen. Mgr., E. B.
Aud., O. F. Lough.—'V. 108, p. 480, 973, 2330. 2629, 2625;
V.
970., 1973, 2076, 2193, 2487;
V. Ill, p. 189, 290, 1084.
ander: V.-P.. Smith Hood; Sec. A Treas., Walton
Moore;
110,
p.
fort
INDIANA
fargo,
CO.—FARGO-MOOR HEAD
DI¬
ORGANIZATION.—Fargo & Moorhead Street Ry. was incorporated
July 19 1902 in North Dakota.
In April 1916 Northern States Power
Co. acquired all of the physical property.
See V. 102, p.
June 1912 new 25-year franchises were granted in Fargo.
1441, 1543.
In
Moorhead and
earnings for cal. year 1919, $126,395.
Operates in
Fargo, N. D., and Moorhead, Minn., and an interurban to Dilworth,
Minn., a total of 15,584 miles.
Standard gauge.
70-lb. T rail.
General
Managers, H. M. Byliesby & Co., Chicago, 111.
V, 105, p. 2099; V. 107,
p. 604.
Dilworth.
Gross
on Jan. 16 1920 to take over the
plan outlined in this Section
Formal transfer cf the property was made on April 28
1920.
V. 110. p. 2192.
The Ft. Wayne A Northern Indiana Trac. Co. (for
history see "Electric Railway" Supplement of April 24 1920) was successor
to tho Ft. Wayne A Wabash Valley Traction Co., which had previously
acquired through consolidation or purchase the following companies:
Ft. Wayne A Northern Indiana Trac. Co. as per
of
April 24 1920.
Ft. Wayne Marion A Bluffton Tr.Co.
Ft.
Wayne El. Lt. A Power Co.
Ft. Wayne A Southw. Trac. Co.
Ft. Wayne Traction Co.
Lafayette A Logansport Trac. Co.
Also
controls
Wabash
fishkill-on-the-hudson, n.
y.
ELECTRIC RAILWAY CO.—A trolley mad.
Leases the Citizens' St. RR., L & P., at a rental oD$9,000 per annum.
Fare Increase.—Effective April 1 1919 city fare was made 6 cents and 2
zones outside city were created, fares 5 cents in each or 8 cents for both to
through passengers.
Interest.
Date.
BONDS—
STOCK AND
First
$50,000--..-..
mortgage,
Maturity
Outstanding.
$50,000
50.000
6 J-J
1895
July 1925
ending Dec. 31 1919, gross, $69,509: net, after
inter&st, rentals, Ac., $12,000; surplus, $5,360.
EARNINGS.—For year
taxes.
$17,360;
ROAD.—Owas
44 and leases 3 miles.
Total, 7J4 miles.
W. J. Conklin;
V.-P., W. F. Weston;
Sec.
Treas., B. L. Smith; Gen. Mgr., W. E. Conklin.—V. 107, p. 501.
OFFICERS.—Pres.,
&
fitchburg, mass.
FITCHBURG
&
LEOMINSTER STREET RY.
In April 1905 absorbed the
Leominster Shirley & Ayer Street Ry. through
exchange of stock, share for share.
V. 80, p. 1478.
In Sept. 1907 Maes
RR. Commission sanctioned Increase In stock from $450,000 to $700,000
new stock to be iasued
at
110.
Company then petitioned Commission tc
allow stock to be Issued at 100 (V. 85, p. 722) but in Sept. 1908 Commls
sion denied application
V 87. p 812.
Rates.—In Oct. 1918 filed with the Mass. P. S. Comm. a local and joint
class freight rate and minimum tariff, increasing rates by about 25%.
Fares.—In Nov. 1919 the co. filed a new tariff increasing fares from 7 to
10 cents, tickets from 64 to 8 1-3 cents and 10-trip tickets from $1 to $1 25.
V. 109. p. 1986.
auth. to issue $225,000 of new 7% cum. pref. stock
(par $100), proceeds to be applied to the payment and cancellation of a like
amount of outstanding notes.
V. 110, p. 1748, 2387.
,
In May 1920, was
STOCK, BONDS, Ac.—
Date.
Interest.
Outstanding.
Maturity
($100).
$450,000
See text
Fitch & Leo con mtge. $350.-1
1901
4 4 F-A
300,000 Feb
11921
000 ($1,000)
lint, at Boston Safe Dep. A Tr. Co., Trustee
L S & A 1st mtge. SlOO.OOOf 1905
5 ft F-A
100,000 Feb
1 1921
gold ($1.000)-,
c*( Int. at Boston 8afe Dep. A Tr. Co., Trustee.
(Guar. p. A 1. by Fitch. A Leom. Street Ry.
Dividends.—For many years up to and incl. 1900-01, 8%; since, 6% p. a
Stock $700,000
-.
41.51
ROAD.—Owns
miles of
track.
Road
extends
to
Leominster.
Lunenburg, Shirley and Ayer.
31 closed passenger cars, 24 open passenger
cars. 3 express cars and 5 snow plows.
EARNINGS.—For year ending Dec. 31 1919, gross, $499,269; net, after
$67,715; divs., $22,500; sur¬
taxes, $91,052; other income, $95; int., Ac.,
plus, $932.
OFFICERS.—Pres.. Supt. and
W. Sargent; V.-P.
WalM« all of
V. 110, p. 1748, 2387.
Purch. Agent, W.
I. Wallace; Clerk and Counsel. C. p. Baker, Treas., R. N
H.
Fitchburg.—V. 104, p. 663;
V. 109,
p.
1986;
fort
Furnishes electric
FORT DODGE DES MOINES & SOUTHERN RR.- -See "Railroad and
Industrial" section.
scott,
Wayne, Roanoke and Delphi; municipal
1998, except in Ft. Wayne, which for more
perpetual, the balance being tor outlying exten¬
Lighting franchises in Ft. w. extends to 1935.
Fare Increase.—On Sept. 15 1920 was auth. by the Ind. P. S. Comm. to
increase fares on the Ft. Wayne city lines to 7 cents cash or 4 tickets for 25
cents.
These rates are to continue for 60 days pending final decision of the
Comm. V. Ill, p. 1369.
In Oct. 1920 was auth by the Ind. P. S. Comm.
to increase passenger fares to 3 cents per mile. V. 111. p. 1472.
franchises extend
STOCK AND BONDS—
Date.
Common $5,000,000-Pref $5,000,000 (non-cum)
Interest.
■
Maturity
Outstanding.
•
7%
5%
$2,212,250
2,202,250
4,944,300 Jan.
4,807,750
1st A ref M bonds
1920
1 1950
See text
Adjustment mortgage bonds) 1920
(non-cum) $6,000,000
/
Ft W M A B 1st M $400,0001 1905
400,000 July 1 1935
5 g J-J
gold ($1,000) guar p A i.tf/Int. at Guar. Tr. A S. D. Co., Phila., trustee
Ft
Wayne Power Co mort-1 1907
5 M-N
57,700 Nov. 1 1937
gage
tf [Int. at Guar. Tr. A S. D. Co., Phila., trustee
Ft Wayne Tr mtge $1,500,-1
1899
4 g A-0
29,000 Oct. 1 1929
000 gold ($1,000)..
c*tf|Int. at Guard. Tr. Co., Cleveland, trustee
Lafayette Street Ry 1st mtge| 1893
54 J-D
225,000 June 1 1923
($1,000each) $226,000 c*tf|Int. at Real Estate Tr. Co., Phila., trustee
Ft W A N Ind (car trusts)—
Series "A" ($1,000)
5 F-A
11,000
See text
Series "B" ($1,000 each).tf
5 M-S
6,000
See text
26,000
Series "C"
—
See text
Stock.—The pref. stock is preferred as to assets and divs., but is non-cum.
Bonds.—In addition to the 1st A ref. M. 5s reported outstanding, $486,700
are reserved to retire a like amount of underlying liens and
$405,700 are
held in the treasury.
The int. on the adjus. mtge. bonds is payable semiann. if earned (non-cum.). and no int. shall be paid unless earned in excess
of proper prior charges, and for the year 1920, but not thereafter, in excess
sum of $300,000.
The int. rate shall not exceed, for 1920, 3%
; for 1921, 3%; 1922, 4%; 1923, 5%; 1924 and each year thereafter,
The holders will be entitled to representation on the board after 1923
if the int. is not earned and paid for a period of two years.
Red., all or in
part, at par and int. on any int. date.
The Lafayette St. Ry. 1st M. 6s were extended for 10 years to June 1
t©23 at 54% Interest.
The Penn. Co. for Insur. on Lives A Granting Annuities is trustee of
Ft. W. A N, I. Trac. car trusts.
Series "A" mature $2,000 each Feb, and
$3,000 each Aug. to Feb. 1923.
Series "B" mature $1,000 s.-a. to March 15
1923.
Tri-State Loan A Trust Co., Ft. Wayne, trustee Series "C," which
mature $2,000 March, June, Sept. and Dec. 1.
also of the
per ann
6%.
ROAD.—Operates 220.33 miles main track connecting Fort Wayne,
Huntington, Wabash, Peru, Logansport, Delhi, Lafayette and Bluffton;
also local lines in Fort Wayne, Wabash, Peru, Logansport and Lafayette.
At Logansport, Peru, Wabash and Bluffton connection is made for Indianap¬
over
tracks of Indiana Union Traction Co.
2
power houses
otner cars.
In May 1906 began through
and 4 pleasure parks.
Owns 180
passenger
REPORT.—Of predecessor co. for cal. years ending Dec.
Calendar
Gross
Net
Expenses
kan.
Year—
FORT SCOTT GAS & ELECTRIC CO.
railway portion of this property
hadibeen abandoned, and dismantled, and that the rails were being re¬
moved from the streets.
V. 110, p. 1415.
We have, therefore, eliminated
the statement of the co. from this section.
For history see "Electric
Railway" supplement of Nov. 15 1919.
1919
In March 1920 we were informed that the
1918
smith,
light In Ft.
1935 and
to
than 4 of street railway are
sions and extending to 1937.
THE
fort
and leases valuable coal lands to Insure the
owns
supply of coal (see Shirley Realty Co. of Indiana in
service between Fort Wayne and Indianapolis over tracks of Union Traction
Co. of Indiana.
See V. 82, p. 1101.
Rails, 60, 70, 72, 80 and 90-lb.
Owns
dodge, iowa.
fort
Wayne Power Co., Carroll Electric Light Co. and
Utility Co.
Owns a one-fourth interest In the United
company an adequate
V. 104, p. 1805).
olis
=
Lafayette Street Ry.
Logansport Railway Co.
Logans. Rocb. A Nor. Trac. Co.
Wabash-Logansport Traction Co.
Wabasb River Traction Co.
Fort
Valley
Tractions Coal Co. which
FISH KILL
Stock. $50.000
ind.
ORGANIZATION.—Incorp. in Indiana
north dakota.
NORTHERN
STATES POWER
VISION (STREET RAILWAY).
wayne,
SERVICE CORP.—A trolley road.
1917
x
and
Revenues.
$2,548,485
2,076,301
2,020,349
Includes all
int.
on
Taxes.
$1,999,193
1,812,607
1,488.987
bonds
Revenues.
$549,292
263,694
539.362
Interest.
*$601,762
579,482
583,019
although receiver paid int.
cars
def.
def.
on
315,788
43,657
only
a
few
underlying issues.
OFFICERS.—Pres., Robert M. Feustel; V.-P. A Gen. Mgr.,
Greenland; Sec. A Treas., II. E. Vordermark, Ft. Wayne.—V. 110,
2192; V. Ill, p. 1369, 1472.
ark,
and 60
31:
Balance,
Sur. or Def
def.$52,470
S.
p.
W.
359,
FORT SMITH LIGHT & TRACTION CO.
Co., a holding company under the control and
Chicago, 111., owns $950,000 com.,
$881,500 pref. stock, $275,000 1st M. bds. and $1,000,000 2d mtge. 5s of the
company.
As of Dec. 31 1919 the company had outstanding $553,265
promissory notes, of which $444,665 were held by the Standard Gas A El. Co.
Standard Gas A'EIec.
fort
management of H. M. Byliesby A Co..
ORGANIZATION.—Incorporated In Arkansas on April 13 1903 as a co».
solldation of the Ft. Smith-Van Buren Light A Transit Co. and the Ft. Sir It*
Trac., Lt. A Pow. Co.
Owns ail physical property, contracts, right? ano
franchises of Van Buren Fuel A Light Co. (now dissolved).
Does the entire
electrlc-Iight, gas and street railway business of the city, and the eiectriclight and gas business of Van Buren; operates an interurban mop fctrwcec
Ft. Smith aDd Van Buren.
In 1917 contracted to supply e'eccncicy \i
two
public service corporations
which supply towns,
mines to the south and east of Fort Smith.
villag«s
ana
co»7
Operates under indeterminate
permit, having surrendered all franchises in 1919.
worth, texas.
NORTHERN TEXAS ELECTRIC CO.—A holding company.
common stock, $500,000 is owned by Pub. Service Invest. Co.
Of the
ORGANIZATION.—Incorporated In Maine Nov. 16 1905 and owns the
participating bonds of the Northern Texas Traction Co.,
entire stock and
which does all the electric-railway business in Fort Worth and
operates an
interurban line between that city and Dallas, 35 miles, and the
capital
Mock of the Tarrant County Traction Co. (name changed from Ft. worth
Southern Traction Co. In 1914), which operates a line between Fort Worth
and Cleburne, Tex., 31 miles.
It la proposed to extend the line from
rieburne to Denton, the rights of the Fort Worth-Denton Interurbin Co.
having been acquired.
V. 99, p. 121, 122.
Also owns the capital stock of
;be Arlington Llg ht A Power Co., which does the electric light and power.
water business In Arlington. Tex.
Enters Dallas over its own
ice and
001., 1920,j
ELECTRIC RAILWAYS
tracks.
See V. 89. p. 411.
Has leased for 20 years from Dec. 17 1915 the
terminal facilities of the Dallas Interurban Terminal Assn. which see'under
Dallas Railway Co. on a preceding page.
In 1917 leased (with the right
to purchase for $2,000,000) the Oak Cliff line to the Dallas Ry. at an annual
rental of $115,000 for first 3 years, $120,000 for fourth year, $125,000 for
fifth year, $135,000 for sixth year and $150,000 thereafter.
.Franchises of Northern Texas Trac. Go. in Fort Worth expire In 1973; In
Dallas in 1937; others about 1950; has private right-of-way outside of
cities.
Tarrant County Traction Company in Fort Worth and Cleburne
expire In 1930;
between these cities has private right-of-way except in
:h
Ac., In which cases its rights expire in 1901.
Road
V. 92, p. 1243.
R
Franchise
tag.
completed in Aug. 1912 and began operation in Sept. 1912.
Sept
J
in Arlington expires in 1949.
_ton expires
1949,
On Feb. 241913 increased auth. pref. stock from $4,500,000 to $5,000,'
000 and the com. from $2,500,000 to $5,000,000 (V. 90, p. 488,654). and
holders of both classes of stock were given the right to subscribe for $650,000
new common stock at par.
V. 96, p. 790.
In Nov, 1917 the co. announced an increase in passenger rates from about
2H cents to about 2U cents per mile to cover Federal taxes and increased
costs of operation.
Effective May 10 1920, fares were increased from 5 to 6
cents. V. 110, p. 2292*
""
towns
.
was
STOCK AND BONDS—
Date.
Interest.
Outstanding.LastDiv.Ac
Common $5,000,000 ($100) J.
Q-M
$3,150,000 Sept. *20,2%
Pref 0% n-c $5,000,000 ($100)
MAS
4,000,000Sept.'20, 3%
Coll trust M $10,000,000 goidl 1910
5 g J-J
3,467,000Jan
1
1940
sink fund (see text)c*&r* tf I Int. at Commonwealth Tr. Co., Bost., Trust.
No Tex Trac 1st M $2,500,000 f 1903
5 g J-J
2,500,000 Jan 1 1933
($1,000) gold—no sinking{Int. at Citizens' Sav. A Tr. Co., Clev., Trus.
fund
c*tf I
or at Chase Nat., Bank, New York.
Stock.—The pref. stock Is redeemable at 110.
V. 94, p. 1449.
Both
....
.
.
—
.
classes of stock are listed on the Boston Stock Exchange.
bonds.—Of the coll. trust bonds, $2,500,000 are reserved to retire North
era Texas Traction 1st M. bonds; $293,000 have been retired.
Coupcr
bonds are in denom. of $1,000;
registered bonds, $1,000, $5,000 and
$10,000.
Callable as a whole or In part, for sink. fd. only, at 105 and int. on
int. date. Sinking fund of 1% of bonds out began Nov. 1 1911. Bonds
secured by deposit of all the stock of the North. Texas Trac. Co.
V. 90,
p. 373, 1239.
The Northern Texas Traction Co. bonds are subject to call
as a whole on any interest day at 105 and interest.
any
are
DIVIDENDS.—First div. on pref. (1%) paid March 1 1900 and 2%
Sept. 1 1906; since, 6% per annum.
First dividend on common stock,
2%. paid Sept. 1 1909; in 1910, h%%\ in 1911 and 1912, 0%; In 1913
0^%; in 1914. 7%; to 1915, 4%%; to 1916 and 1917. 4%.
In 1918.
6%; in 1919, 4%; in 1920, Mar., 2%; June, 2%; Sept. 2%.
EARNINGS.—Of combined companies for 12 months ending June 30:
Year
Gross
Net
Tax.)~Oih.Inc. IrtleresL Skg. Fds.
Surptos.
1919-20
$3,740,603 $1,344,761 $115,000 $298,360
$1
1918-19— 2,927,397
983,627
115,000
300,506
798,121
ROAD.—Subsidiary companies operate 164 miles of track, standard
gauge; 206 passenger, 22 trail and 16 other cars.
In July 1916 completed
an 1,800 ft. viaduct over the steam roads entering Union Depot in Dallas.
Power station has capacity of 10,800 k. w,; also purchases power from the
Dallas Power A Light Co.
OFFICERS.—Pres., Marshall M. Phinney; Sec., George A. Peirce;
Treas.. Henry B. Sawyer; Gen. Mgrs.. Stone A Webster Mgt. Assn.. Bos¬
ton.—V. 104, p- 1899; V. 106, p. 396, 818, 2346; V. 110, p. 2292, 2488.
..
.
FOSTORIA,
.
OHIO.
FOSTORIA & FREMONT RAILWAY CO.
ORGANIZATION,—Incorp. in Ohio in 1909.
.
w
Ownership
■
T
Is largely
represented by interests identified with the Lake Shore Electric Ry. Go,
Besides
and Western Ohio Ry. Go.
express
business
passengeif fares to
business, does a freight and
by Ohio State Power Co. at
passenger
and handles coal for
Fremont.
-7 "-v
Fares.—In July 1918 was auth.
use
None since.
EARNINGS.—For years ending June 30:
,
Gross. Net. after Taxes. Int.
Depr.Res've.
Surplus
19i8-19
$87,484
$28,121
$7,574
$1,221
$19,326
1917-1875,859
32,927
8,370
•
1,221
23,336
ROAD, AO.—21.38 miles of electric interurban railway on private rightof-way, connecting Fostoria and Fremont.
Forms the connecting link
between the Western Ohio Ry., Toledo Fostoria A Findlay Ry. and Lake
Shore Electric Ry., all of which use the line under traffic contracts.
OFFICERS.—Pres., F. D. Carpenter, Lima, Ohio.—V. 107, p. 82. 40.
12 Months—
-
—
representing the bondholders.
V. Ill,
p.
1567.
Date.
Interest.
5-s-x-r
Outstanding.
Maturity.
'fM &T«*
X
sink. fd.
Red. at 105— lint, at American Trust Co., Boston, Trustee
Bonds.—$11,000 first mtge. bonds in addition to those reported out¬
standing are held in sinking fund.
EARNINGS.—For 12 mos. end. Dea 31 1918, gross, $95,157; net, def..
after taxes. $7,182; bond tot. A sink, fund, $12,000; loss for year, $19,182.
ROAD.—Owns 21.739 miles of track between Norwood, Mansfield and
3 snow plows and 2 service cars.
OFFICERS.—Pres., Lawrence A.Ford; Treas., R.Elmer Townsend; Gen.
Mgr., M. A. Cavanaugh —V. 106, p. 2450: V. 107, p. 1837; V. Ill, p. 1567
Wrentham; 21 passenger cars,
FRESNO, CAL.
SAN JOAQUIN LIGHT & POWER CORP.
v
n
.
ORGANIZATION.—Incorporated in California on July 19,1910 as a conLight A Power Co./the Power Transit A Light
Co. (Bakersfield) aud the Merced Falls Gas A Electric Co. Absorbed the
Selma Water Works, Madera Water Works, Madera Lt. A Pow. Co., Lemmore Lt. A Power Corp. and Bakersfield Gas A Elec. Lt. Co. controls
through stock ownership the Tale River Co., havtogjplants on the Tale
River, Oal,
The Midland Counties Public Service Corporation (V. 98,
,rv
1849), controlled in same interest, purchases all of Its power from the
San Joaquin Light A Power Corporation.
In Feb. 1919 it was reported
that the Midland Counties Public Sendee Corp. would consolidate with the
San Joaquin Light A Power Corporation in the near future.
V. 108. p.
880.
In Feb. 1920, however, the Midland Counties Pub. Serv. Corp. with¬
drew its petition for auth. to carry out this consolidation.
V. 110, p.
562.
Franchises In cities are perpetual; outside of cities, with two excep¬
tions, extend beyond 1950.
About one-half the total length of transmis¬
sion lines is on private right of way-.
Suppliesi electricity' for lighting,
nower and pumping purposes throughout the San Joaquin Valley, Including
the cities of Merced,
Madera, Fresno, Selma. Hanford, Bakersfield
Sanger, Dinuba and about 50 towns and small cities; population served,
about 400,000.
Distributes gas in Bakersfield, Kern, Merced and Selma;
operates a street railway system in Bakersfield and Kern and furnishes
water for domestic purposes in Selma and Madera.
Rate Increases.—On April 22 1918 was auth. by the Cal. RR. Comm. to
out into effect a new schedule of power and lighting rates.
On May 28
1918 was auth. to put into effect a surcharge of 10%.
In Feb. 1919 auth.
ibo add a surcharge of 15% to all bills was granted by the Calif. RR. Comm.
V. 108, p. 685.
soli lati on of the San Joaquin
capacity of 40,000
poses.
V. 110, p. 173.
In Oct. 1920 an issue of
$2,600,000 Series C 8% bonds, was reported sold.
No further details.
Compare V. Ill, p.
V. Ill, p. 1662.
STOCK AND BONDS—
Date.
Common $15,000,000 ($100)
—
Pref. $10,000,000($100)6%cum. ...
Interest.
Conv
1st A Ref mtge $25,000,000 gl
($1,000) sink rund-c*Ar*tf J
..
„
-
Maturui
io.
$11,000,000
0,500,000 Sept,*20.1H
1,000.000 May 1 1927
1,000,000 May 1 1929
Los Angeles or New York.
5-0 F-A
12,994,000 Aug 1 1950
Q—M15
1910
Equit. Tr. Co., N. Y.» trus.; int. In N. Y.
Mf 1905 5 J-D
2.588.000 June I 1945
__
San Joaquin L A P Co 1st
$3,000,000sf ($l,000)c*ntf/Redeemable at 110 and interest
5%
25,000 Dec. 1 1942
1903
5 g J-D
73,000 June 1 198a
000 gold ($1,000)
—tf/Mercantile Trust Co.; San Francisco, trustee
Bakersfield A Kern Elec Ryl_1901
5 g J-J
38.000 July 1 1931
$250,000 gold ($1,000) ntf/Union Trust Co., San Francisco, trustee.
Stock.—Capital stock cannot be increased without assent of three-fourths
San Joaquin Power Co —ntf
Power Trans A LtM $2,600-1
of stock of both classes.
Bonds.—Of the 1st A ref. bonds of 1910 reported outstanding, $1,500,000
($1,370,000 held by public, $22,000 repurchased by the co. and $90,000
held alive to sink, fund) are Series A 6s; $799,000 are Series B, bearing 5%,
and $2,125,000 are Ser. B, bearing 6%, and $8,700,000 are Ser. C. 6s. "
881,0001st A Ref. M. bonds are reserved to retire prior liens (incl. $191,000
held in or for stoking funds) and remaining $13,493,000 bonds maybe
Issued at not exceeding 0% int. for add'ns, impts., Ac,, at 75% of cost
under certain restrictions.
Series A callable at 102H, others" at 105.
Tax
exempt in
California.
First
and refunding mortgage contains
sinking fund provisions calling for payments pf $145,000 annually
(to be used partly for betterments and additions and partly for re¬
demption of bonds. Series A bonds having preference over other series)
from 1915-1919; $150,000 annually from 1920-1924 and ranging there¬
after from 2Yi% annually of bonds out from August 1925-1929, incl.,
to 4J4% annually from August 1945-1949, inclusive.
V. 91, p. 1332.
By a supplementary mortgage, holders of Series B 5s were permitted
to exchange them for Series B 6s upon payment of $100 per bond up to
May 31 1917.
The debentures are redeemable, all or part. Series A at any
time prior to May 1 1922 and Series B prior to May 1 1924 at 102 and int.
and thereafter at 101 and int.
Under the trust agreement the co. covenants
that no further underlying bonds are to be issued; that no further mtge.
than existed at May 1 1917 be made; that debentures outstanding and float¬
ing debt will not at any time exceed $4,800,000, and that no dividends
be paid stockholders in excess of present rate when floating debt exceeds
$300,000.
Provision for conversion into 6% cumulative preferred stock
will be made.
Security Trust A Savings Bank, trustee.
V. 104, p. 1903;
V. 108. p. 2529.
Of the $2,588,000 San Joaauin Lt. A Pow. Co. 1st 5s, $6,000 are held
bv co. for sink. fd. purposes and $37,000 alive in sink. fd.
$72,000 Power
Transit A Light Co. 5s in addition to the amount reported outstanding
are held alive to sink. fd.
$82,000 Bakersfield A Kern Elec. Ry. 1st 5s are
held in sink, fund (in addition to those reported as outstanding) and $3,000
have been repurchased for sinking fund purposes.
Dividends.—Paid 4>* % on^pref. stock In 1912; to 1913, 6%; In 1914. 3%;
none to June 1917, when 1" * 7o was paid; 1 ^ % quar. since.
REPORT.-
•For calendar years:
Gross
Calendar Year—
1919
1918
Net
Earnings.
—.$3,287,416
2,614,740
-
—
-
Other
Earnings.
$1,090,713
1,122,306
I ncome.
(Net),
Balance,
Surplus.
$82,386
24,733
$745,723
655,296
$427,376
491,743
Int. Charges
PROPERTY.—The co. owns power plants with 67,210 h.p.; operates
743 miles of high-tension transmission lines, 33 sub-stations ana 2,666 miles
of distributing lines.
About Aug. 16 1920 a new power plant on the San
Joaquin River, near Auberry, Cal., having a maximum capacity of 50,000
h. p., was put into operation.
Reservoir capacity, 50,000 acre feet, 132.2
miles of gas mains.
Operates 10.51 miles street railway track in Bakers¬
field, supplemented by automobile bus lines in outlying territory.
OFFICERS,—Pres., W. G. Kerckhoff; V.-P. A Sec., L. M. Farnham;
A. G. Wishon; Treas. A Comp., A. E. Peat —V. 108,
685, 880, 1826, 2123, 2242„2529; V. 109, p. 1178, 2074; V. 110, p. 173.
262; V. Ill, p. 390, 897, 1473, 1662.
V.-P. A Gen. Mgr.,
p.
FRESNO
TRACtlON CO.—A
trolley road.
In 1910 Southern Pacific assumed control and owns all the stock except
directors' shares.
ORGANIZATION.—Incorp. In Cal. Sept. 22 1903.
Leases the Fresno
Purchases power from San Joaquin Lt. A Power Co.
ORGANIZATION.—Incorporated In Massachusetts in November 1901.
Fare Increases.—On Aug. 19 1915 the Mass. P. 8. Comm. granted per¬
mission to increase the fares from 5 to 6 cents or 18 tickets for $1.
See
V. 101. P. 694; V. 103, p. 1031.
In June 1918 the co. notified the Mass.
P. S. Comm. of a fare increase from 6 to 7c. with 15 tickets for $1, effective
June 29 1918.
In Nov. 1918 notified the P. S. Comm. of its intention to
increase fares from 7 to 8 cents and to make a corresponding increase in
•commutation rates.
V. 107, p. 1837.
1908
a
City Ry.
FOXBORO, MASS.
NORFOLK & BRISTOL STREET RY.
Foreclosure Sale.—The property of the company was to have been sold
at public auction on Oct. 23 1920 under a foreclosure suit brought by the
STOCK AND BONDS—
the San Joaquin River with
on
h. p.
V. 109, p. 2074.
In Jan. 1920 the co. applied to the Calif. RR. Comm. for auth. to issue
35,000 shares prior pref. stock, proceeds to be used for construction pur¬
Compare V. 107,
.
American Trust Co..
hydro-electric plant
*
V. 107,, p. 401.
^
In 1918, Dec.,, 3%..
47
In May 1919 the co. issued $1,000,000 Series "B" 6% conv. debentures,
proceeds being used to reimburse the co. for exts. and impts. made subse¬
quent to Jan. 1,1917.
V. 108, p. 2123, 2242, 2529.
In Nov. 1919 the co. brought out $3,742,000 Series "C" 1st A ref. bonds,
proceeds being used to pay 75% of the cost of constructing an additional
by the Ohio P. S. Comm. to increase
3-cents per mile.
STOCK AND BONDS—
Date.
Interest•
Outstanding.
Maturity.
Com stock, $200,000 ($100)-. ....
——$200,000
Pref stock $200,000 ($100)
—
200.000
See text
First mtge $250,000 ($1,000)1 1910
5A-0
85,000^ Oct 1 1930
gold
c*flnt. at Cleveland (O.) Trust Co., trustee.
Bands.—Normal Federal income tax paid at source.
Dividends.—Paid a dividend of 3% on pref. stock in Jan. 1913.
In 1917
Dec., 6%.
1
In Dec. 1916 the Cm. RR. Comm. auth. the co. to sell $49,597 bonds for
(not Incl. to amounts reported outstanding).
Fares.—In Sept. 1918 was auth. by the Calif. RR.
exts.
fares from 6 to 6 cents and commutation rates
STOCK AND BOND£~
Date.
Stock $5,000,000— ($100)—— —
First
rst
mortgage,
($1,000).
gold
Comm. to increase
by 10%.
Interest.
V. 107, p. 1192.
Outstandin
Maturity.
$5,000;
$5,000,0001 1904
5 J-J
699,000 July 1 1944
c.ntf [Int. at Union Trust Co., San Fran., Trustee.
Bonds of Leased
Fresno Cli
City Ry
...
Company—
first mtgef 1902
6 g J-J
70,000 Jan
1 1922
$150,000 gold ($1,000) c*tf\Union Trust Co., San Francisco, Trustee,
Bonds.—Fresno Trac, 1st M. bonds have
a
stoking fund commencing in
1909 of $2,500 per annum for first 6 years and increasing $2,500 per annum
for each 6-year period thereafter to $17,500 per annum from 1939 to 1943.
Fresno City bonds have a sinking fund of $3,000 per annum for first two
years. $5,000 per annum for next five years ana
next 10 years, which began Jan. 1 1905.
Bonds
terest
$7,500 per annum for
cannot he called.
In¬
payable in New York and San Francisco.
COMBINED EARNINGS.—Incl. Fresno City
Cal.
Gross
i
Net (after
Other
Years—
Earnings.
Taxes).
Income.
1919------$308,458
1918240,306
—
$87,712
17,438
—
-
Ry.:
Interest,
Rentals, Ac.
$12,064
22,952
Balance,
Deficit.
$35,479
69,600
$111,127
109,990
ROAD.—Mileage operated (Incl. 8.14 miles leased from Fresno City RyT.
45.013 miles.
Also owns 8,51 miles of single-track operated oy Southern
Pacific Co.. Standard-gauge, 75-lb. "T" rail.
31 electric motor passenger,
3 work cars; 2 trailers, and 1 electric locomotive.
OFFICERS.—Pres., W. F. Herrin, San Francisco; V.-P., Paul Shoup,
Oulloden, Los Angeles; Gen. Mgr., F. W. Webster;
Fresno;.Treas., M. S. Wade, Los Angeles.—V. 78, p. 1222; V. 107, p. 1192.
Sec. A Aud., H. A.
GADSDEN, ALA.
ALABAMA CITY GADSDEN & ATTALLA RY.
Sale.—In March 1920 the Alabama P. S. Comm. approved the transfer
of the electric and the railway properties of the co. at Gadsden to the Ala¬
bama Power Co.
On July 20 1920, however, action was filed by a stock¬
holder of the railway co. charging that the sale of these properties to the
Alabama Power Co. was not a genuine one and asking for the appointment
of a receiver.
For further details see V. Ill, p. 492.
Decrease in Capital.—In Aug. 1920 the co. filed notice of a decrease in its
capital stock from $330,000 to $6,600.
V. Ill, p. 989.
STOCK AND BONDS—
Date.
Interest,
Stock $500,000 ($100)
Mortgage
($1,000)
Outstanding.
$330,000
Maturity,
—
$300,000
gold/ 1906
5 g M-N
298,000 Nov 1 1930
........tf Unterest at Trust Co. of Amer.,N. Y., Trust.
—
Bonds.—The unissued bonds are reserved for further additions at 90%
of cost.
Subject to call on any interest date at 105 and interest.
ROAD.—Operates 11 miles of track, connecting the points named In the
title. Standard gauge. 40 and 70-lb. T rail.
E.T. Schuler. Gadsden. Ala.: V.-Pre*.. G. H.
Fla.—V. 110, p. 359, 1186; V. Ill, p. 492, 989.
OFFICERS.—Pres..
Schuler, Jacksonville,
48
ELECTRIC
GALVESTON, TEXAS.
OALVESTON-HOUSTON ELECTRIC CO.—A Holding company.
ORGANIZATION.—Incorp. in Maine on May 8
1907.
Controls
through ownership of stock the Galveston Electric Oo. and the Houston
Elec. Co.. which companies do the entire electric railway and part of the
electric lighting and power business In Galveston and the entire electric
railway business In Houston.
Also owns stock of Galv.-Hous. Elec. Ry..
lnterurban road between Galveston and Houston, 60
miles, and guar¬
an
antees its bonds, p..
1. and s. f.
Franchises expire in Galveston In 1960, In
1935.
The lnterurban 1«* on private right-of-way.
$500,000
stock Is owned by Public Hervlce Investment Co.
Fares.—In Sept. 1918 the Houston Electric Co., a subsidiary, was auth.
Houston,
com.
by the City Council to increase fares from 5 to 6 cents, the new rate to be
merely temporary and to be terminated by the City Council any time it
sees
fit.
Aft a referendum held in Nov.
1918, however, the ordinance
authorizing the co. w increase fares from 5 to 6 cents was defeated by a vote
of 3,460 to 2,111.
V. 107, p. 1919.
The co. thereupon filed a suit hold¬
ing that the Comm. had no auth. to delegate its rate-making powers to
the people and that the referendum election on the 6-cent fare ordinance
was therefore
illegal.
In Feb. 1919 a decision adverse to the co. was
handed down and the 5-cent fare restored.
V. 108. p. 683.
This decision
was upheld by the Court of Civil
Appeals at Galveston, Tex., on March 20
1919.
V. 108, p. 1274.
In Jan. 1920, however, the Federal District Court
issued an order restraining the city from interfering with increases in street
car fares beyond the 5-cent maximum provided for in the company's fran¬
chise charter.
The company has increased fares outside the 2.8 mile zone
to 3 cents, making the total fare 8 cents.
V. 110, p. 464.
See also V. 110,
p. 1289: V. Ill, p. 188.
In July 1919 the newiy installed City Comm. of Galveston, Tex.,
repealed
the ordinance, auth. the Galveston Electric Co. to charge a 6-cent fare,
which bad been enacted but recently.
V. 109, p. 172.
In March 1919 issued $1,500,000 3-year 7% notes, proceeds to be
applied
to the retirement of the entire floating debt and other requirements.
V.
108, p.1165.
,
,
_
STGCK AND BONDS—
Date.
Common, $5,000,000 ($100)~
Prei $ 4.000,000 6 % cum ($ 100)
Galv Electric 1st M $2,500.-
^
_
000
gold
($1.000)
Galv-Hous El
cHf
M-8 15
M-8 15
Outstanding. Last Div.Ac
$3,988,000
Pee tf-xt
3,000.000
Sept. 20 3%
6 g M-N
1,272,000
May 1 1940
Int. at Old Colony Trust Co.,Boston, Trus¬
tee,or at company's agency In New York.
1909
Ry 1st M $5,-
6 g
Slock.—Pref.
listed
on
Is callable at 120 and accum. div.
Boston Stock Exchange.
Both pref. and
com
Galveston Electric Co.—Of the bonds, $1,026,000 reserved for additions
and impts.at 80% of cost and $202,000 have been canceled. A sinking fund
of 1H% of bonds certified began July 1 1906.
Callable as a whole or in
8art V. 81. p. 975.
for sinking fUnd on any int. date at 110 and Int. on 30 days' notice.
>e
Galveston-Houston
held
in
trust
Electric Ry.—Of the remaining bonds, $26,000 are
for benefit of company and
$2,000,000 are reserved for
acquisitions and Improvements; $179,000 have been canceled.
Denom.:
coupon, $500 and $1,000;
registered, $1,000 and $5,000.
Subject to call
on any interest day in whole, or in part for sinking fund, at 105 and int.
Sinking fund of 1% of bonds to 1944; thereafter 1 H%.
First five pay¬
ments waivable.
Bonds are guar., prin., Int. and sinldng fund, by Gaiv.Hous. Elec. Co.
See V. 90, p. 697.
Houston Electric Co.—Entire issue, but not any part, can be called on
any Int. date at 107H and Int.
Sinking fund of 1%% of bonds outstand¬
ing, payable on Aug. 1 each year.
See V. 74, p. 680.
not outstanding was held by this fund on July 31 1920.
Debentures.—Int. on debs, is guar, during life of voting trust agreement
by endorsement by the Calumet Electric Co., said guaranty being secured
by pledge of $125,000 of that co.'s 1st M. bonds.
Red. at par and int.
on 30 days' notice.
The co. covenants, among other things not to permit
any lien upon the property ahead of the debentures except the First Mtge.
and to expend or set aside annually for maintenance and to offset
deprecia¬
tion 14% of gross earnings:
Dividends,—Divs. on com. stock of the Corp. are restricted by voting
trust agreement to $10,000 per annum.
-Yrs. end. Dec. 31- 6 Mo s.end. -Yrs. end. June 301919.
1918.
Dec. 31T7.
1916-17.
1915-16.
EARNINGS.—
Gross earnings
$526,574
93,589
Net, after taxes
Mtge. 7% bonds of the three operating companies.
No
underlying 1st mtge. bonds may be issued while any of these
notes are outstanding.
Additional notes may be Issued only if each $1,000
note is secured by $1,200, of Gen. Mtge. bonds.
Red. as a whole, any time,
on 30 days' notice at 101 and int. to March 1
1921, and at 100>4 and Int.
thereafter to maturity.
Interest payable in New York and Chicago.
DIVIDENDS.—On common, 1H% semi-ann. from
GARY &
VALPARAISO RAILWAY CO.
ORGANIZATION.—Incorporated in
Sept.. 1909 to and
EARNINGS.—Of the combined companies for 12 mos. ending June 30:
Year—
Gross.
Net, aft. Taxes.
Int., Ac.
Sinking Funds.
Surplus.
$421,984
378,815
—
$492,496
423,675
_
——
ROAD,—Operates 166.5 miles single track; standard gauge; 271 passen¬
ger, 5
trailers and 32 other cars. Power stations have capac. of 6,582 k.w.
OFFICERS.—Pres., Marshall M. Phinney; Sec., Geo. A. Peirce; Treas.,
Henry B. Sawyer; Gen, Mgrs., Stone & Webster Mgt. Assn.—V. 107. p.
1100, 1195,1482; V. 108, p. 1165, 1274; V. 109, p. 172,1079; V. 111, p. 188.
GARY, IND.
GARY STREET RAILWAY CORPORATION.
ORGANIZATION.—Incorp. in Feb. 1918 in Va.,
per
in V.
through a voting trust agreement under which all of the common
of the corporation Is to be deposited with three
voting trustees, of
one shall be a
representative of the old Gary & lnterurban Ry.
bondholders and the other two of the Calumet Electric Co.
In case the
Electric Co. 6hall not redeem all of the debentures on or before Oct.
1 1922,
or in case it shall default on its
guaranty of the payment of int. thereon,
then the common stock of the corporation shall be distributed
ratably
the bondholders of the voting trust certificates.
[The Calumet Electric Co. is an Indiana corp. and secures all its elec¬
power from the Public Service Co. of Northern Illinois,
selling and
distributing the same in the Hammond, Whiting and Gary districts.I
Fares.—In Aug. 1920 the co. was auth. by the Ind. P. S. Comm. to in¬
crease fares from 6 cents to 8 cents in Gary, Hammond and
East Chicago.
V. Ill, p. 493.
Fares between these cities were raised from 20 cents to 24c.
among
tric
STOCK AND
BONDS.
Date.
Interest.
Outstanding.
Maturity.
Gary Street Ry. Corp.—
Common $800,000 ($100)
$800,000
Pref 6% non-cum $72,500($100)
72,500
Gary Street Ry. Co.—
Pref 6% non-cu $365,000($100)
365,000
First Mtge bonds $2,500,000
1917
5 g A-O
375,000. Oct
1 1937
Central Trust Co. of 111. and Wm. T. Abbctt.
($100, $500 and $1,000)
—
—
trustees.
Debentures
$800,000
gold I 1917
5 g A-O
($100, $500 and $1,000)
/New York Trust
Stock.—Preferred
mentioned above.
tice.
__
_
stock
—
of
both
Both issues
Dividends
are
cos.
is
red.
as
Co.,
limited
a
to
800,000 Oct
Trustee.
the
auth.
11937
amounts
whole at par on 30
on the common stock of the
Gary Street
limited by voting trust to $10,000 per annum.
Voting Trust.—All the common stock of Gary St. Ry.
Va.
days' no¬
Ry. Corp. of
are
Corp.
(except
directors' shares) is held under a voting trust agreement for 5
years to Oct. 1
1922.
Trustees are Mortimer N. Buckner, Frank J. Baker and Charles
W. Chase.
1917
with
OFFICERS.—Pres., Chas. W. Chase; Sec., R. M. Scheidt; Treas., L. E.
Woodward; all of Gary, Ind.—V. 105, p. 2272; V. 106, p. 295.
GENEVA, N. Y.
GENEVA
SENECA
FALLS
&
AUBURN
ORGANIZATION.—Incorp. May 28 1913
Auburn
f
RAILROAD
CO..
INC.
of the Geneva Ik
Public Serv. Commission
as successor
Ry. sold at foreclosure March 14 1913.
authorized the sale of $524,000 bonds at not less than 85.
V. 97. p. 298.
The Public Service Commission in May 1915 auth. the Issue of
$37 150
6% serial notes maturing within 6 years, the proceeds to be used for
additions, improvements. AcFare Increase.—Effective Sept. 1 1920 was auth. by the N. Y. P. S.
Comm. to increase fares in Geneva from 6 cents to 8 cents.
V. Ill, p. 1278.
STOCK AND BONDS—
Date.
Stock. $200.000
Bonds. $524.000—
Serial
Interest.
1913
notes
—...
5%
6%
1915
Outstanding.
Maturity.
$157,100
1 504.000 July 1 1943
11,000
Sea
text.
EARNINGS.—For year end. June 30 1920, gross, $121,897; net, after
taxes, $12,719.
Year ending Dec. 31 1918, gross, $105,813; net, after
taxes, $37,069.
In 1917, $107,386; net, after taxes, $18,710.
ROAD.—Extends from Geneva to Cayuga Lake Park through Waterloo
Length of main tracks 16.31 miles; sidings, .819 mile;
miscellaneous, .36 mile; total. 17 489 miles.
Ralls, 70. 80. 90 and 100-lb.
T; track standard gauge.
and Seneca Falls.
OFFICERS.—Pres., R. R. Quay, Pittsburgh, Pa.; Sec., L. G. Hoskina,
Waterloo.
Geneva, N. Y.; Sunt., Treas. A Pureh. Atrt.. W
A. Shirley,
N. Y.—Y. 96, p. 1629; V. 97, p. 298; V. Ill,
p. 1278.
GIRARD, PA.
CLEVELAND
fk
ERIE
RAfl WAV
CO.
Receivership.—On Sept. 20 1920 A. O. Chapin, Erie, Pa.,
receiver for the co.
V. Ill, p. 1277.
was
appointed
ORGANIZATION.—Incorporated In June
1909.
Is successor to Oonneaut & Erie Traction Co.. sold at foreclosure.
Owns all the stock and
bonds and leasee the Conneaut & Erie Traction Ot. of
Ohio, which owns
1.99 miles of track.
Franchises are for 999 years,
STOCK AND BONDS.—
$800,000,
($250 and $500)
Income bonds $500,000
mtge.
and $500)
_
Date.
Interest.
Outstanding.
Maturity.
$300,000
500.000.July 1 1929
cjlnt. at Fidelity Trust Co., Phila., trustee.
($250[ 1909
5 July
600.000 July 1 1929
[Int. at Fidelity Trust Co.. Phtla.. trustee
goldl
1909
5 J-J
bonds.—Remaining first mortgage bonds are reserved for extensions*
betterments. Ac.
They are subject to call at 105 and int. on 3 months,
notice.
Int. on income bonds is only payable if
earned, and Is rion-cum.
They
has
are subject to call at par.
been paid
on
Bonds have
no
sinking fund.
No interest
Incomes.
EARNINGS.—For years ending Dec. 31:
Gross
Net
Other
Int..Taxes
Year—
Earnings. Earnings. Income, A Rentals.
Depr. St
Balancef
Replace.
Deficit.
$31,051
$1,789
$39,241
$6,400
1918
164,509
23,382
1.328
38.389
13.679
Pass, carried during year end. Dec. 31 1919, 716,859: In
1918, 714,256.
'
$181,288
ROAD.—Owns 31.29 miles of track.
Brie.
Operates between Oonneaut and
65-ib. rail; 8 passenger and 6 other cars.
O. Chapin, Erie, Pa.; Mgr. for Receiver,
Smith, Girard, Pa.—V. Ill, p. 1277.
Standard gauge;
OFFICERS.—Receiver, A.
J.
M.
Co.—Guaranty.—A contract dated 8ept. 6
1917, as amended, provide® that in consideration of $50,000 in cash, and
its guaranty of the int. on the 20-year debentures for a
period of five years
from Oct. 1 1917 (which guaranty is secured by
deposit of $125,000 1st M.
bonds of the Calumet Electric Co., being one-half of the
present outstand¬
ing issue), the Calumet Electric Co, shall have an option for five years to
redeem or pay at par and int. all of said debentures and
thereupon to re¬
ceive all of the common stock of the corporation.
The Electric Co. Is
further to have a renewal for five years of its contract for the
furnishing
of power to the properties, and, in the meantime, will control the
manage¬
whom
19
sold under fore¬
EARNINGS.—For year ending Dec. 31 1919, gross, $98,020; net, after
In 1918, gross, $88,885; net, after taxes, $8,991.
reorganization plan
106, p. 1230.
Owns the entire $365,500 common stock of the Gary
Street Ry. (incorp. in Indiana, Sept. 26 1917), the
operating company, suc¬
cessor to the Gary & lnterurban Ry. and East
Chicago Ry. Co., sold at fore
closure Sept. 18 1917.
V. 105, p. 1309.
stock
Nov.
were
ROAD.—Extends from Chesterton through Woodville Jet. to Valparaiso,
12 miles, and from Woodville Jet. to Gary, 16 miles
(see above).
Total
mileage operated 28 miles.
1919
ment
on
taxes, $5,743.
First
Contract udth Calumet Electric
Indiana
ing Rys. and the Valparaiso & Northern Ry., which
closure Sept. 18 1917.
Stock. $300,000-
$914,481
802,490
$245,027
27,66£
authorized capital stock of $10,000 to operate the lines of the Gary Connect¬
8ept..3^%. In 1915,Mar.,3>*%. Sept. 1915div.omitted. (V. 101.p.845.)
2,924,018
$318,171
41,417
OFFICERS.—Of Gary St. Ry. Co. (Operating Co.).—Pres., C. W.-Chase;
Treas., L. E. Woodward: Sec., R. M. Scheidt; all of Gary, Ind.—V. 106,
p. 715; V. 107, p. 802: V. 108, p. 268; V. Ill, p. 493.
Incl. Mar. 1912. amount then Increased andi paid 2% in Sept. 1912.
In
Mar. 1913 increased to 2M%, In
Sept. to 3% and In Mar. 1914 to 3H%;
1918-19—
$181,333
42,954
OFFICERS.—Of Gary St. Ry. Corp.—Pres., Frank J. Baker, Chicago;
V.-P., Chas. W. Chase, Gary, Ind.; Sec., R. M. Scheidt, Garry, Ind.;
Treas., L. E. Woodward, Gary, Ind.
Gen.
additional
1919-20.—$3,385,329
$385,579
83,715
ROAD.—Operates 22 miles in Gary and between Gary and Hammond
Ind., and a 10-mile line between Gary and Indiana Harbor, Ind.
$845,000 of bonds
Oen. Mtge. Bonds.—Are a lien on all the property of the three operating
cos,, subj. to underlying 1st mtge, bonds, $1,800,000; the entire outstand¬
ing amount are pledged under the 3-year 7 % notes.
Notes.—Are a direct obligation of co. and are secured by pledge of $1,-
800.000
Bonds.—Remaining 1st M. bonds may be Issued fo»< additions, ext'ns and
impts. for not over 85% of cash cost of same, and for repaving and track
renewals necessitated by public orders, for not more than
90% of the cash
cost of same under certain restrictions.
Callable at 105.
A-G
2,805,000
Oct
1 1954
000,000 g guar
.C&r tf Int. at Old Colony Tr. Co.. Bost., Trustee.
Hous Klec Co 1st M $2,500,1900
5 g F-A
1,655,000
Aug. 1 1925
000 g ($1,000) sk fd-cUf Int. at Internat. Trust Co., Bost.. Trustee
Genmtgebonds
1919
7%
See text Mar 11922
Secured
notes
$3,000,000/ 1919
7 g M-S
1,500,000 Mar 1 1922
($500 A $1,000) g
c*tf/The Comm w'th Trust Co., Boston, trustee
are
[Vol. 111.
,
1905
Interest.
RAILWAYS
GIRARDVILLE, PA.
SCHUYLKILL
RAILWAY
CO.
Reorganization Plan.—On June 10 1918 the following plan of reorganiza¬
tion was presented to the holders of the
$640,000 1st Consol. 5s by Pres.
Powell Evans, Phila., who is the owner and holder
persr naliy of a substan¬
tial majority of the Consol. 5% bonds and of various amounts
of the other
Issues included in the plan.
The plan is subject to the decision of the court
In the co.'s pending litigation concerning its
obligation to pay Schuylkill
Trac. Co. 1st M. 5s and the effect of an adverse decision
therein.
For de¬
tailed outline of the plan see V. 107,
p. 1920.
The provisions are as follows:
(a) The lease of the Schuylkill County Ry. to remain in effect.
(b) The Schuylkill Ry. Co. to purchase from me the entire Issue of
Schuylkill County Ry. Co. stock (which I own), subject only to the
primary
pledge of the stock as security for the income bonds. (See below.)
(c) Holders of $640,000 Consol. 5% bonds to return to the co.'s
treasury
(waiving their rights therein until this is done) 25% of their
par value to¬
gether with ail unpaid interest, &c., said one-fourth of said
bonds, amount¬
ing to $160,000, to be held in the treasury to provide for future
betterments
and (or) extensions.
(d) The Schuylkill Ry. Co. to pay out of net
operating Income current
Interest and obligations equally (except as
temporarily under (e)) on:
Principal.
Existing Bonds (Consols Reduced as Aforesaid)—
Interest.
$760,000 underlying 1st & 2d M. bonds on system
proper
$36 025
375,000 Schuylkill County Ry. Co. 1st M. bonds.
18 750
480,000 75% of outstanding $640,000 5% Consol.
bonds__I_II
24',000
$1,615,000 Total bonds secured by Mtge.
Total interest $78 775
$32,000 Existing Car Trust Certificates, principal (with
interest)
due in installments ($4,000
semi-ann.)
Also Interest on any expenditures on new
capital supplied for betterments
required for the proper operation of the entire
railway system.
Also annually before any payment on
Income bonds an amount at least
equal to 2% of all outstanding Schuylkill County
Ry. Co. bonds as a sinking
fund, but annually not less than
$5 nog
(«) The Schuylkill Ry. Co. to issue
$600"000"NewYnVome bonds,"viz.;
150,000 to retire Income bonds of like amount
now
outstanding160.000 to replace the scaling of Schuylkill
Ry. Co. 5% Consols.
275,000 for purchase of entire capital stock of
Schuylkill Co. Ry. Co.
15,000 to pay
pro rata the past due unpaid dividends on 2,400 shares of
the preferred stock of Lakeside
Railway Co.
—it
being understood that all
the said
purchased shall be held primarily
as
8chuylkill County Ry. Co. stock
collateral for said Income bonds.
so
Oct., 1920.]
ELECTRIC
RAILWAYS
(J) All distributable net income above that needed to pay minimum fixed
charges enumerated in clause d herein, except as to $480,000 5% Consols,
which 50% of interest is to be
paid currently for surrendered coupons
In June 1919 brought out an issue of $750,000 secured serial 6% notes
proceeds being used In part In the refunding of $3,700,000 1st M. 5s o
the Grand Rapids Ry. Co., due June 1 1919
(see that company.on subse¬
quent page).,
V. 108, p. 2433.
The $5,950,000 1-year 7% notes
.due Nov. 1 1919 were refunded by a
similar note issue due Nov. 1 1920.
In Feb. 1920 $2,380,000 of these notes
were paid off.
on
from the time this agreement takes
effect, to be employed to carry out the
reduction of bank loans, current bills
payable and accounts payable (thereby
releasing the $78,000 of Consols now serving as collateral) until not more
than $10,000 remain
unpaid, whereupon all current interest on $480,000
of Consols shall be paid to the full extent of said net
income.
(g) The $78,000 of Consols released under clause / above to be sold now
to me (at 75 as above) for all
my said claims against the company, and to
be subject to reduction as
provided in clause c hereof.
(ft) Any net profits distributable after taxes, interest charges and other
charges stated in clauses d and f above, maintenance, &c., have been
paid,
to be distributed to holders of Income bonds on an
equal percentage basis
until they have received 6%
(without any arrears being due or cumulative)
prior to any net profits being distributed to stockholders.
(i) Provisions hereunder to apply to various securities named herein
other than 1st and 2d M. prior liens and Car Trust
Certificates from dates
of their last interest or dividend
periods prior to Jan. 1 1918, respectively.
(j) Upon consummation of all the provisions I and all parties hereto are
to release to the
company all other interest held by me and them personally
and in every other
capacity—leaving the company, on the basis above
described, with only nominal current obligations, with the above minimum
fixed charges and provision for distribution of its net income
In Mar. 1920 the co. anticipated the
payment of $250,000 secured serial
7% notes maturing May 1 1920.
STOCK AND BONDS—
from Sept. 30 1918.,
No later information.
Interest.
Q-F
Q-F
Outstanding.
$18,585.9)0
Stock .—Preferred
bonds.—Bonds
stock
are
is redeemable at
17,953.000
105 and accrued dividends.
secured by $11,249,000 com. stock of the Consumers
Power Co. and are convertible into an equal amount of pref. stock at par
with com. stock in the amount of 30% or face value of bonds converted.
,
All assenting Consols, together with all stock
(if any) held
Notes.—.The secured serial 6% notes mature $100,000 annually June 1
1921 to 1923, inclusive, and $350,000 June 1 1924.
Are secured by pledge
by the deposi¬
Consols, to be deposited with the Commonwealth Title Insurance St
Trust Co. of Philadelphia, as depositary. V. 107,
p. 1920.
on
($100)
Preferred (6% cum) ($100)
tors of
ORGANIZATION.—Incorporated in Pennsylvania
Date.
Maturity
See text
See text
Secured conv bonds
$8,047,000/1918
7 M-N
7,608,250 May 1 1923
($50. $100, $500 & $1,000)-(Bankers Trust Co., New York, trustee.
Secured serial notes $2,000,-1 1919
7 g M-N 1
1,722,500
See text
000($100,$500&$1,000)g c*/Detroit Trust Co., Detroit, Mich., Trustee.
Secured serial notes $750,0001 1919
6 g J-D
580,000
See text
($100, $500 & $1,000) g
c*/Brooklyn Trust Co., New York, trustee.
One-year secured notes g
1918
7%
3,570.000 Nov. 1 1920
Scrip
1918
6%
1,016,559 Feb. 1 1924
Scrip
„■
1919
6%
1.122,138 Feb. 1 1925
Scrip
1920
6%
816,767 Feb. 1 1926
Common
It is the intent of this offer that either the said
plan shall be initiated or
the proceedings for said
reorganization by foreclosure shall be begun within
one year
49
of $1,200,000
(entire issue) gen. mtge. 5-year 6% bonds of the Grand Rapids
Ry. Co., due June 1 1924.
Red., all or in part, any time upon 30 days'
July 20 1903 and
notice at 101 and int.
purchased the property of the Schuylkill Traction Co. and the Lakeside
Ry. Co. V. 80,p. 1729. Leases the Schuylkill County Ry. Co.
Interest
payable in N. Y.
Tax refundable in Penn.
V. 108,
p. 2433.
The secured serial 7% notes mature $250,000 each May
1 from 1921 to 1923 incl., and $1,000,000 on May 1 1924.
$250,000 have
been retired and $27,500 are held in treasury.
Secured by pledge of
Interest Deferred.-— On Sept. 30 1919 Pres. Evans announced that the Int.
due Oct. 1 i919 on the Schuylkill Ry. Co. 1st consul. 5s of 1935 and on the
Schuylkill Traction Co. 1st M. 5s of 1943 would be deferred.
See V. 109,
of the
$4,000,000 Michigan RR. Gen. Mtge. 6s, due May 1 1924.
Red. at 101 and
int. on 30 days' notice.
Int. payable in New York.
Dividends.—Quar. divs. of 1 H% on pref. have been paid since organiza¬
tion.
The Feb. 1918 div. was paid in 6% serin dated Feb. 1 1918 and due
on or before Feb. 1 1924.
Divs. at the same rate are being paid regularly
6 to 7 cents
in similar scrip.
1700.
p.
Sale Proposed.—See V. 109, p. 1462.
Fares.—In July 1918 the Penn. P. S.
•
Comm. sustained the complaint
Borough of Ashlapd against the company's increase in fares from
on May 28 1917 and ordered the co. to restore the old
6-cent
rate.
V. 107, p. 292.
In April 1919 was auth. by the P. S. Comm. to in¬
crease fares to 8 cents, tickets to be sold at 7 for 50 cents.
See also V. 109,
P. 1700.
^v
First div.-on common—1 %—paid May 1 1913; same rate
quarterly to and including Nov. 1917.
Feb. 1918 dividend was passed.
V.
106, p. 498.
Date.
$400,000
Earnings
pledged under the first mortgage.
On April 27 1900 leased for 999
the Lakeside Ry., which connects the two ends of the company's
Mahanoy City to Shenandoah and purchased 2.600 of the 5.000
shares of the capital stock.
On Jan. 24 1901 leased the Shenandoah A
Pottsville Street Ry. (13 miles) for 999 years (incorporated
Aug. 1 1900).
and bought all of its capital stock.
The Lakeside Shenandoah Sc Potts¬
ville stock is pledged under consol. mtge.
Plan of Reorganization.—See Schuylkill Ry. Co. above.
Default.—See Schuylkill Ry. Co. above.
replacement and depreciation._. $1,341,948 def.$126,277
$150,000. guar'd by (Int. at Oont.-Eqult. T. Sc T. Co.. Philadelphia.
Schuylkill Traction.. I
Trustee.
consol mtge, seel
1901
4H g J-J
105,000-July 1 19.51
text ($1,000). g—c^jlnterest at Fidelity Trust Co., Phiia.. Trustee.
New
mortgage
bonds.—The 1st M.
5.000
bonds of 1893 may be purchased for sink, fund at
...
105.
Sinking fund of $10,000 per annum began April 1 1898.
In June
1916 the trustee brought suit for an accounting of net profits from operation
of the properties under the mtge. and asked for the payment of $10,000 or
such
part thereof as can be determined to be due, with Interest, for each
from April 12 1905 in which net profits were earned, In accordance
with the sink, fund provisions.
Auth. amount of consol. mtge. was $2,*
000,000, but mtge. has been closed with $105,000 out.
Of the outstanding
year
bonds
$36,000 are held in the treasury.
Subject to call at 105 and interest,
Sinking fund of 1% of bonds out became operative Aug. 1 1907.
ROAD.—SchuylkW Traction Division. 22H miles of track, beginning at
Locustdaie, thence through Ash'and, Holmesvllle to GirardvilJe, forming
there a Y, one branch rur nlng through Lost Creek to Shenandoah and the
other branch to Malzeviha, GilNrton and
Mahanoy City.
Lakeside Divi¬
sion, 6H miles.
Total, 28 mllfs.
60 and 70-lb. T rail.
Extensions of 43
miles proposed and charters obtained.
Operates 51 motor cars. 4 work
cars and 2 snow sweepers.—V. 80, p. 1729.
GLOVERSVILLE, N.
JOHNSTOWN & OLOVERSVILLE RR. CO.—Steam
electric road.—See statement In "Railway and Industrial" Section.
GRAND
and
RAPIDS, MICH.
COMMONWEALTH POWER. RAILWAY A LIGHT CO.
ORGANIZATION.—Incorporated In Maine Feb. 19 1910
the
to carry out
plan outlined In V. 90. p. 108. 447, for amalgamating certain
electric light, power and street railway enterprises in Michigan.
gas.
Controls through stock ownership the following
companies:
Consumers Power Co.
|Michigan United Rys. Co.
Grand Rapids Ry.
yagln»w-Bay City Railway Co.
Michigan Light Co.
Grand Rapids Holland & Chic. Ry.
Michigan Railway Co.
Manistee Railway Co.
Michigan RR. Co.
1019
/
[Springfield (O.) Lt.. Ht. & Pow. Co
I Union Railway, Gas Sc Electric Co.
j
had outstanding In hands of
constituent companies
the
public $76,673,500 bonds and $15,567,400 preferred stock.
On May 15 1913 tbs compary acquired (through exchange of new stock
basis shown in V. 96. p. 1296) the outstanding capital stock of the Union
Ry., Gas St Elec. Co. and the Springfield (O.) Light Co. (V. 96, p. 1298>
and the Michigan Rys. Co.
In July 1917 purchased a three-quarter inter¬
in Jan. 1919 the remaining one-quarter interest in a coal mine In
est and
Logan Co., W. Va.
V.
105.
p.
606.
Late in 1917 purchased coal lauds
in Illinois.
Financing.—Finding Itself unable, because of abnormal conditions, to
bonds which fell due on May 1 1918.
by the War Finance Corp. or $2,400,repaid prior to May 1 1923, on the condition that holders
of the matured bonds take at least 70% of a refunding issue.
Accordingly,
take care or the $8,047,000 6% conv.
the company was granted an advance
000 at 7%, to be
the company offered
secured
the
new
for each $1,000 bond: (a) $1,000 In new 5-year 7%
gold bonds and $25 in cash, representing 2H% discount on
bonds; or (5) $700 in new 5-year 7% nonds, $17 50 in cash, repre¬
conv.
senting discount at 2H% on $700 new bonds, and $300 In cash, with int.
at 7% on $300 from May 1 1918 to and Incl. Sept. 29 1918.
Holders of $500
and $100 bonds received proportionate amounts.
V. 107, p. 291.
Over
90% of the bonds having been deposited under the plan. It was declared
operative and delivery of the new bonds was begun Sept. 23 1918.
V.
i07. P 1192. In Mar, 1919 we were informed that all of the old issue had
refunded.
j»n
preferred stock
for
common
stock
$28,655,495
23,904,157
20,260
divs.
'
Combined Earnings of Subsidiary Companies
Year—
Gross.
Net (aft.Tax.)
Inl.,&c.
1919-20
$9,162,552
8,118,577
$6,697,052
6,346,150
Year end. June 30.
Pref. Divs.
Surplus.
$1,077,180 $1,388,320
1,077,180
695,247
PROPERTY, &c.—Through its constituent'companies, owns and oper¬
railways serving 100 cities and towns with over 887 m. of single
track; revenue pass, carried during year end. Dec. 31 1919, 111,660,896
electric light and power companies serving 160 cities and towns with sales
during the year ended Dec. 31 1919 of 465,332,748 k.w.h.; 21 hydro¬
electric
plants and 20 steam electric plants with an Installed capacity of
265,000 n. p., high-tension transmission
lines aggregating 1,450 miles
in length; gas comnanies serving 15 cities, with sales during the year ending
Dec. 31 1919 of 3,372,341,600 cubic feet; miles of gas mains, 982.53.
ates electric
OFFICERS.—Pres., Geo. E. Hardy; V.-Ps., O. M. Clark, Phila., John
C. Weadock and B.C. Cobb; Sec. & Trea., Jacob Hekma; Asst. 8ec. & Asst.
Treas., O. A. Pearson Jr., Phila.; G. H. Bourne, N. Y.; and Geo. Sprague Jr.
—V. 107, p. 1192; V. 108. p. 77. 578, 1056, 1822. 2022, 2433, 2528; V. 110,
261, 359, 561, 657, 1748, 1972; V. Ill,
p.
73, 588.
(1) Michigan Railway.
ORGANIZATION.—Incorp. July 22 1909 as the Michigan & Chicago
Ry. and on Mar. 21 1914 changed its name to Michigan Ry.
On Jan. 1
1916 leased for 999 years the Mich. United Rys. (formerly leased to Mich.
United Traction Co.).
Owns entire cap. stock of the Michigan RR. Co.,
which leases the Grand Rapids Hollana & Chicago Ry.
STOCK.—Has
an
auth. issue of $6,000,000 com.
stock, of which $4,392,"
000 is outstanding (all owned by the Commonwealth Pow. Ry. & Lt. Co.)OFFICERS.—Pres., B. C. Cobb; V.-Pres., Frank Silliman Jr. and J. F*
Collins; Sec.-, J. W. Glendenning; Treas., A. G. Bray.—V. 107, p. 1004.
AN4Z AT I ON.—1 ncorp. April 17 1919 in Michigan and acquired the
railway properties formerly owned by the Michigan Railway (for history, see
"Electric Railway" Section of March 29 1919).
Leases for 999 years from
Jan. 1 1916 the Grand Rapids Holland & Chicago Ry.
Fares.—On May 30 1920, the City Commission of Kalamazoo voted to
permit the co. to charge a 10-cent fare, with 3 tickets for 25 cents, until
Nov. 2 1920 when an election will be held at which a fare contract between
the city and the co. will be voted upon.
V. 110, p. 1849 2568; V. Ill,
p. 1661.
In Sept. 1920, the P. U. Comm. auth. the co. to continue the
10-cent fare in Battle Creek temporarily.
V. Ill, p. 1370.
,
STOCK AND BONDS—
Interest.
Outstanding.
Maturity
v'$4,000,000
11919
6 g M-N
4,400,000 May 1 1924
$.500 and $1,000) gold_c*.tf/Equitable Tr Co, N. Y., & Mich. Tr. Co.,tr.
General mtge $4,000,000 gold. 1919
6%
4,000,000 May 1 1924
Date.
Common stock $5,000,000
1st M bds $10,000,000 ($100,
bonds.—The first mtge.
Y.
FONDA
on
$1,072,615
on
Balance
p.
STOCK St BONDS—Miles. Date.
Interest.
Outstanding.
Maturity.
1st M. $500.000, g.$500122X
1893
6 g A-O
$500,000 April 1 1943
St $1.000,
flnt. at Cont.-Equifc. T. St T. Co., Trustee, Phila
1st M. lakeside Ry. g.f 5H
1893
4 g M-N
150,000 Nov 1 1923
31
1,077,180
$189,924
672,649
28,932
1,077,010
1918-19-—
which is
Dec.
$3,041,130
$218,135
811,186
Dividends
Schuylkill Traction Co.—A trolley road.
routes from
On
$2,000,484
$221,785
1,268,331
42,300
1,077,180
Amortization of debt discount
OFFICERS.—Pres., Powell Evans, Phila.; Sec. & Treas., J. A. McKee,
Gen. Mgr., W. S. Leib, Pottsville.—V. 109, p. 1462, 1700.
years
1917.
$3,951,544
Gross earnings
Deduct—
Phila.
ORGANIZATION.—Chartered Sept. 26 1892, In perpetuity, under the
uneZO.
1918.
$2,250,775
790,355
Expenses and taxes
Interest charges
year
Motor Traction Act of March 22 1887.
Road opened June 1 1893.
On
Jan. 6 1893 leased for 999 yearn the Mahanoy City Shenandoah Girardville
St Ashland Street Ry.
On Oct. 5 1893 leased for 999 years the Ashland
Locustdaie Sc Oentralla Elec. Ry.
Owns all the stock of these two roads,
Years ending
$1,176,818
823,665
Interest, &c., earnings
ending June 30 1916, gross, $265,402; net,
$116,780; other income, $117; int. and taxes, $101,440; misc. deductions,
$26,380; def„ $10,923.
Power-house
sub. company stocks
$2,345,009
1,606,535
on
___
EARNINGS.—For
(1)
Statement for
1919.
Interest.
Outstanding.
Maturity
($50)
I
$400,000
First consul mtge, $1,450,000,1 1905
5 g A-O
640.000 April 1 1935
gold ($500 and $1,000)--C*/Int. at Fidelity Trust Co.. Phila.. Trustee
Income bonds___
1913
5 J-J
150,000 Jan. 1 1944
Car Trust Certificates
32,000
;
Bonds.—Of the remaining first consol. bonds, $760,000 are reserved to
retire the underlying liens in statement below and $50,000 are In treasury
Are subject to call at par and interest.
The Car .Trust Ctfs. mature
$4,000 semi-annually.
I
Stock,
None since.
Condensed Earnings
.
STOCK AND BONDS—
bonds have
an
authorized total of $10,000,000,
which may be issued in series bearing different rates of interest, but not to
exceed 6% per annum.
In addition to the $4,500,000 outstanding, $500,000may be issued under certain conditions; the remaining $5,000,000 may be
issued for not to exceed 75% of actual and reasonable expenditures made
after May 1 1919 for additions, extensions, &c., under certain restrictions.
Sinking fund will retire semi-annually, $50,000 of bonds of this issue, either
by purchase in the open market or by redemption at 101 and interest.
$50,000 in sinking fund in April 1920.
A general reserve fund is also
provided under which the company must either expend annually or
deposit in cash with the New York trustee an amount equal to not less
than 20% of its gross earnings, to be expended for maintenance, repairs,
replacements and renewals, for the purchase or retirement of bonds of
this Issue, or for extensions, enlargements and additions.
Such expendi¬
tures for extensions, enlargements and additions shall not be used as a
hauls for the Issuance of bonds, except as the general reserve fund is reim¬
bursed to the extent of moneys used or withdrawn therefrom for such expendituresi
This fund is distinct from and has no connection with the
sinking fund.
Callable at 101 and int. at any time on 45 days' notice
Int. is payable in N. Y.
Tax-exempt in Michigan.
The gen. mtge. is
junior in lien in every respect to the first mtge,
V. 108, p. 2022.
The
$4,000,000 bonds of this issue shown as outstanding are pledged under the
Commonwealth Power Ry. & Lt. Co.'s serial notes of 1919.
ROAD.—Owns and operates an interurban electric railway 47.64 miles
long, extending from Flint through Saginaw to Bay City, with branch to
Frankenmuth; one from Allegan to Battle Creek, 52.05 miles, and a new
high-speed interurban line, 58.52 miles, extending from Grand Rapids to
Kalamazoo.
Construction on this line completed in Dec. 1914 and regular
service was begun May 17 1915.
Leases the Grand Rapids Holland A:
Chicago Ry., 76.48 miles.
OFFICERS.—Pres., B. C. Cobb; V.-Ps., Frank Silliman Jr. and J. F.
Collins; Sec., J. W. Glendenning; Treas., A. G. Bray.
Office, Jackson,
Mich.—V. 107, p. 1004; V. 108, p. 1721, 1823, 2022; V. 110, p. 1849,
2568; V. Ill, p. 1370, 1661.
(b) Michigan United Rys.—A third rail and trolley systom.
Michigan Ry. Co. for 999 years from Jan. 1 1916.
Leased to
ORGANIZATION.—Incorporated in Michigan on March 31 1906 and
on May 1 1900 took over the Michigan Traction Co., the Michigan Traction
Extension Co.; the Jackson Sc Battle Creek Traction Co. and the Lansing Sc
-Uburban Traction Co.
The rinsing St Jackson Railway Co. has also been
Seeded to the Michigan Un. Rys.
a
,
,
Consolidated Traction Co.
V. 84. p. 1183.
285.
Latter company's franchises in Jackson expire In 1960.
CIty.of Jackson has the right to purchase the Jackson Consolidated
Traction at an appraised value in 1930 and each 5 years thereafter.
STOCK AND BONDS—
In 1908 purchased Jackson
and V. 87. p.
The
STOCK AND PONDS—
Date.
,
Common. $6,000,000 ($100)..
ref
&
1st
——
($1,000,
$100
and
5 g M-N
$12,500,000/ 1906
mtge
gold
Interest.
M-S
Pref $1,000,000 ($100) 6% cu
'
Maturity.
Outstanding.
$6,000,000
1 1,000,000
See text
10.047,000 May 1 1936
$250,/Int. at Columbia Tr. Co.. N. Y., trustee.
c&r.tfl
or Nat. Provincial Rk. of Eng.. London.
/ 1901
5g J-J
148,000 Jan
1 1921
g c*_ntf 1 Interest at New York Trust Co., Trustee.
1st mtgef 1903
5 g J-D
24L000 Dec 1 1923
g_—c.tf Int. at Columbia Tr. Co.. N. Y., Trustee.
$500.
$50)
Mich Trac 1st mtge
$700,000 ($1,000)
Michigan Trac Ext
$500,000 ($1,000)
1903
5 g J-J
1,200.000 Jan
11923
Jackson & Battle Creek first
mortgage, $1,200,000 ($1,- Interest at Citizens' Savings & Trust Co..
Cleve., Trustee, or First Nat. Bk., N. Y.
000) gold
—
Jackson Consol Trac 1st mtge [ 1904
6 g M-N
790,000 May 1 1934
$1,000,000 gold ($100,$500/Interest at Guardian Trust Co.. New York,
and $1,000)
c* tf {
Trustee.
Bonds.—Of the $12,500,000 first and refunding bonds, sufficient are
reserved for prior liens and remainder for addns., bettermts and impts
subject to call at 110.
V. 82, p. 1157.
8ee also V, 87. p. 167. 285; V, 88.
p. 1437.
Bonds are listed in London.
V. 90. p. 914'.
The Jackson Consol
Trac. Co. bonds are subject to call on any int. date at 105.
On the Michigan Traction Co. bonds a sinking fund of 5% of gross earn¬
ings commenced in 1903. to be used in buying bonds at not to exceed 110.
otherwise to be invested In other standard securities.
V. 72, p. 391;
$552,000 Mich.Trac.1st M.bonds and $259,000 Mich. Trac. Ext. 1st M.
bonds were held in sinking fund on
Oct. 1 1920 and are not included in
the amounts above.
The Jackson & Battle Creek bonds are subject to call in any amount
after 10 years at 105 and interest.
V. 75. p. 1147.
Dividends.—6% is being paid on preferred stock.
REPORT.—Earnings are no longer reported separately.
ROAD.—Operates all city lines in Jackson, Battle Creek, Kalamazoo
and Lansing and interurbanlines between Jackson. Battle Creek and Kala
mazoo, and between Jackson, Lansing and St. Johns, Lansing andOwosso,
and from Jackson to Grass Lake and Wolf Lake; total operated. 261.13 m
Through service between Jackson and Lansing began in Nov. 1909.
Op¬
erates through service to Detroit over Detroit United Ry. lines under traffic
agreement, connecting from Jackson,
V. 96, p. 1423: V. 108, p. 2023.
_
_
.....
Grand Rapids Holland & Chicago Ry!
all the pref. and practically all the com. stk
from Jan. 1 1916.
(c)
ORGANIZATION.—Incorporated in Michigan In July 1904 and Is a re¬
organization on Aug. 1 1904 of the Grand Rapids Holland & Lake Michigan
Rapid Ry.
8ee V. 79, p. 627.
Power is supplied to company by Con¬
sumers Power Co., but company maintains own station In readiness to
operate In case of emergency.
expire in 1928 to 1930:
Franchises in city of Holland and village
remainder on private rights of way.
Bond Extension,—Holders of the $1,475,000 Grand Rapids Holland
&
Lake Michigan Rapid Ry. 1st Mtge. 5s due Aug. 1 1920, were asked to
extend same for 4 years to Aug. 1 1924 at 7%.
V. Ill, p. 389.
streets
8TOCK AND BONDS—
Date.
Common. $500,000
Interest.
-
Pref, $850,000, 6 %
Outstanding.
$487,900
Maturity
Union Railway, Gas & Electric Co.
Merger.—Under the plan dated April 26 1913, practically all the $5,250,000 pref. stock was exchanged for $5,250,000 new pref. and $525,000 new
com. stock of the Commonwealth Pow., Ry.. & Lt. Co., and the $6,000,000
com, for an equal amt. of new com. or $1,500,000 pref. and $4,500,000 com.
(2)
ORGANIZATION.—Incorporated in New Jersey June 29 1909 and
acquired practically all of stocks of Springfield (111.) Ry. & Light Co.
(which has since been merged with this company), the Rockford (IHA &
Interurban Ry. Co., the Peoria Light Co., and the Evansville Light Co.,
per plan in V. 88, p. 1501; also all the stock and bonds of the Janesville
Traction Co. ($125,000 stock, $50,000 bonds), and all the stock ($497,500)
and all the first refunding bonds ($382,000) of the De Kalb-Sycamore &
Interurban Traction Co.
On Dec. 11 1916 the stockholders voted to
dissolve the Evansville Light Co., which owned the entire $3,000,000 com¬
mon stock and $950,000 of the preferred stock of the Public Utilities Co
The latter was Incorp. in June 1912 and merged the Evansville & South¬
ern Ind. Trac. (see "Elec. Ry. Sec." of May 1912), Evansville Gas & Elec.
Lt. Co. and Evansv. Pub. Serv. Co.
On Oct. 14 1912 Circuit Judge Wil¬
liam Blakey sustained the demurrer of the Public Utilities Co. in a suit
brought to dissolve the company, holding that the consolidation was in ac¬
cordance with the statutes (V. 95. p. 1040), and In Dec. 1912 he dismissed
the suit. V. 95, p. 1747. The Union Ry. Gas & Elec. Co. owns $1,896,400
6% cum. pref. aud all the $5,000,000 com. stock of the Cent. Illinois Lt. Co.
(V. 99, p. 1132) which was incorp. in April 1913.
In March 1917 Cent. 111.
Light Co. increased its auth. cap. stock from $5,500,000 to $20,000,000. The
Union Ry., Gas & Elec. sub. cos. own and operate street railway properties
in Springfield and Rockford, 111., Evansville, Ind., and Janesville, Wis., and
Interurban lines from Rockford to Freeport and Belvidere, 111., through
Beloit, Wis., to Janesville, Wis., from De Kalb to Sycamore, 111., and from
Evansville to Princeton
Patoka, Ind.; also gas, electric and steam-
and
heating properties in Peoria, Springfield and Pekin, 111., and Evansville.
Ind.; electric light and power and steam heat in De Kalb and Sycamore.
Til.. and electric properties in numerous other cities and towns in Illinois.
Sub. Co. Fare Increase.—In Dec. 1918 ticket fares on the Rockford &
Interurban Ry. were increased to 2.6 per mile and cash fares to 3 cents
per mile.
V. 107, p. 2477.
the Illinois P. U. Comm. to
In Sept. 1919 the same company was auth. by
charge
6-cent fare in Rockford.
In Nov. 1919 fares in Rockford were raised to 7 cents.
'
a
The $3,000,000 5% notes due April 1 1919. were retired
the company issued in connection therewith $1,500,000
Jan. 1 1919 and due Jan. 1 1922.
V. 108, p. 1391.
V. 109, p.982.
Stock.—Pref. stock Is subject to
Date.
Interest.
Outstanding.
Maturity.
$6,000,000 ($100)—
$6,000,000
See text
Pref $12.000.000 cum ($100)
6 Q-J
5.250.000 Oct. '20. 1H
Collateral trust mtge, gold/ 1909
5 J-J
3.990.000 July 11939
($500 and $1,000)
c*_tf [Commercial Trust Co., Phlla., Trustee.
Gold notes
1919
6%
1.500.000
Jan 1 1922
Springfield Ry. A Light Co.—
Sprtogfield Ry&Lt coll tr M/ 1903
6 g J-D
3.075.000 June 1 1933
$5,000,000 g ($1,000) c*_tflFidelity and Columbia Tr. Co., Louisv..trus.
8prlngfield Con Ry consol f 1893
5 g J-D
750,000 June 1 1933
$750,000g($1.000) c.tflOolumbla Trust Co.. Louisville, Trustee.
Rockford A Interurban Ry. Co.—
mtg
&
Inter
-
Urban-/ 1902
5 g A-O
582.000 Oct
11922
gold ($500 and/Interest at First Nat. Bk., N. Y„ or at ConSi,000) $3.000,000_c*..ntf I
tinen. & Com. Tr. & Sav. Bk.. Chlc.,trus.
1903
5 g M-N
529.000 May 1 1923
Rockford
&
Freeport
first
mtge, $750,000. gold, gu Int. at Con. & Com. Tr. & Sav. Bk., Chicago
Trustee«
p & i ($1,000&$500)c*_ntf
RwWord"Bel& Janesville 1stf 1905
5 gA-0
966.000 Oct
11930
/Int. at Cont. & Com. Tr. & Sav. Bk„ Chic.,
mtge g ($1,000) s f
mtge.
Trustee, or First Nat. Bank, New York.
De Kalb-Sycamore
Kalb-Sycamore
first
A Interurban Trac. Co.—
Electric/ 1907
J-D
5.000
1922
ntf\Int. at Cont. & Com. Tr. & S. Bk., Chic..Tr
mortgage
Central Illinois Light Co.—
M.f 1903
5 J-J
2.500,000 Jan
1 1923
; $2,500,000 g ($1,000) ..c*tf\Bankers
Trust Co., New York, Trustee.
Cent 111 Lt 1st & ref M $15,-1 1913 5 g A-0
4.410.000 April 1 1943
000,000 ($100, $500, $1,-{Bankers Trust Co., New York. Trustee.
Peoria Gas & Elec. Co. 1st
000)
Public
-
c*{
Utilities Co.—
Ref/ 1919
6 g J-J
3,000,000 Jan
1 1929
Mtge $15,000,000
($100,(Bankers Trust Co., N. Y., Trustee.
$500 & $1,000) *old—c*tf I
Public Utilities Co lst&
call at 105 and accrued dividends.
coll. trust mtge.i s secured by de¬
posit of practically ail stocks (com. & pref.) of subsidiary cos.
Additional
bonds may be issued only under rigid restrictions (V. 89. p. 226).
Interest
is payable at Hodenpyl, Hardy & Co., N. Y., and E. W. Clark & Co., Phlla.
Bonds redeemable at par & int. on 60 days' notice.
They are convertible
into pref. stock at par.
V. 89, p. 226; V. 93, p. 528.
The 3-year notes
are secured by bonds of the U
Ry. G. & E. Co. and underlying companies,
Bonds.—The Union Ry., Gas & Elec.
Interest payable at office or agency of company
Additional notes may
aggregating $2,250,000.
in New York.
be issued
with
Bankers Trust Co., N. Y., trustee.
certain restrictions.
See V. 102, p.
1541.
Springfield Railway A Light Securities.—Of the Springfield Railway &
trust mortgage of 1903,
$75,000 are reserved for addi¬
tions and improvements to constituent companies and $750,000 for prior
liens.
The bonds are subject to call on 60 days' notice at 107 H and
Int.
Interest Is payable at Columbia Trust Co., Louisville, and at Hoden¬
pyl, Hardy & Co., Inc., N. Y.. and E. W. Clark & Co., Phlla.
Int. on
Springfield Consol. Ry. bonds Is payaole at Fidelity and Columbia Trust
cos., Louisville, and at Hodenpyl, Hardy Sr. Co., Inc.. N. Y.
Light collateral
Rockford A Interurban Ry. Securities.—Sinking fund on Rockford &
Inter-Urban bonds of 5% of gross receipts commenced in 1908.
$439,000 of bonds in add'n to those reported outstanding above are held in the
sink. fd.
Add'l bonds can be Issued for extensions and Improvements at
85% of cost.
The entire issue is subject to call at 105 and interest.
The
Rockford & Freeport bonds are assumed, prin. & int., by the Rockford &
Inter-Urban Railway Co.; $96,000 are held in sink. fund.
A sinking fund
equal to 5% of gross earnings began in 1910.
Bonds are subject to call
at
105 and interest.
V. 78, p. 1270.
A sinking fund on the Rockford
Beloit & Janesville bonds began in 1915 of 2% of gross earnings of that
division.
They are subject to call at 102H and Interest. They are guar¬
anteed, p. & I., by the Rockf. & Inter-Urban. $34,000 in s. f. Oct.l 1920.
De Kalb-Sycamore Electric., $134,000 in
sinking fund.
Light Co. Securities.—Peoria Gas & Electric bonds are sub¬
Int. thereon is payable at Hodenpyl, Hardy &
Co., Inc., N. Y.
Sinking fund of 5% of gross earnings began Jan. 1 1910.
Sinking fund may be used by company for additions to property aeainst
which no bonds have been issued.
Central Illinois Light bonds are red. at
Centra I Illinois
ject to call at 105 and int.
19
105 and accrued int.
are
on
Of the remaining bonds $2,500,000
remainder are
60 days' notice.
reserved to retire Peoria Gas & Electric. 1st M. 5s, while
reserved for acquisition of new property, additions, impts., &c., under cer¬
tain restrictions (V. 99, p. 1132).
Sinking fund of ^ of 1% p. a. began
April 1 1917, of total amount of bonds of this issue outstanding and all
underlying issues for the purchase of these bonds (or call at 105) or for ac¬
quisitions, impts.. &c,
V. 99, p. 1132.
Utilities Co. Securities.—$2,640,000 1st & Ref. M. bonds are
a like amount of underlying bonds.
Additional bonds
be issued in series, at different rates of interest not exceeding 6% per
annum, to reimburse the co. for 75% of cost of add'ns, ext's, &c., under
certain restrictions.
A general reserve fund is provided for under which
the company must expend or deposit in this fund in each calendar year
an amount equivalent to 20% of gross earnings derived from the railway
properties, 15% from the electric light and power, and 12% from the
gas and steam heating properties and of all other income, to be expended
for maintenance, renewals, ext's, &c., and the purchase and cancellation
of bonds of this issue or underlying bonds.
Red. at 102 and int. on any
int. date to and incl. Jan. 1 1924 and thereafter at 101 and int.
V. 108,
may
p. 269, 379.
The Evansville Gas & Electric Light Co. must call at 105
and int. $10,000 annually on June 1 1913 to 1922, inclusive, and $1,5,000
on June 1
1923 to 1932 inclusive: $80,000 have been retired.
They are
subject to call at 105 and interest.
The Evansville & Princeton first 5s
have a sinking fund of $10,000 per annum, which began Feb. 1 1908, said
fund to be invested in the bonds at 105, beginning with No. 1.
$80,000
have been redeemed.
Whole issue of these bonds may be called at any
L. W. Prior of Cleveland is co-trustee of this mortgage.
time at 110 and int.
Evansville Elec. Ry. bonds cannot be
called.
Dividends.—First dlv., 1H%. on pref.
paid Oct. 1909 and same amount
since to and including Oct. 1920.
First div. on com.—1%—paid
April 1 1913; July 1, 1%; Oct., 1%.
In 1914, Jan., 1%. . Com. Pow., Ry.
k Lt. Co. owns practically all the stock and divs. no longer made public.
quar.
EARNINGS.—For calendar years:
12 Mos.—'
Gross.
Oper.Exv.
1919----
$7,219,008
6.545.321
1918
Fixed Chgs. Bal.. Sur.
$1,875,983
$916,019
1.753,398
532.865
Net.
$2,792,002
2,286.263
$4,427,006
4,259,057
ROAD.—Rockford & Interurban operates 36.28 m. of trolley In Rock¬
ford, 15 miles between Rockford and Belvidere; also 30 miles between Rock¬
ford and Freeport, and 35 miles between Rockford, 111., and Beloit and
Janesville, Wis.; also a 6.39-mile extension to Camp Grant.
Total,
123.67 miles.
Springfield Gas & Eiec. Co. operates 43.94 miles in Spring¬
field.
Janesville Traction Co. operates 6.52 miles in Janesville. Wis., and
De Kalb-Sycamore & Interurban Traction, 8 miles, connection De Kalb and
Sycamore, 111.
Public Utilities Co. operates about 69 miles in Evansville
and between Evansville, Princeton and Patoka, Ind.
OFFICERS.—Pres.. G. E. Hardy; V.-Ps., C. M.
Sec. & Treas.. Jacob Hekma, New York.—V.
V.
108, p.
104,
Clark and B. C. Cobb;
p.
2343; V. 106.
p.
608;
1391; V. 110, p. 2488.
(3) Springfield (O.) Light, Heat & Power Co.
Practically entire Com. stock is owned by Com. Pow., Ry. & Lt
ORGANIZATION.—Incorporated in Ohio in
beyond maturity of bonds.
Sept. 1908.
STOCK AND BONDS—
Outstanding.
Co.
Franchises
extend
Date.
Interest.
Common stock ($1,000,000)._
Preferred stock ($1,000,000)-.
$5,000,000
at
gen
Light,
Heat
Power first mortgage
Maturity.
$1,000,000
520,700
& ref M / 1913
Red/Int. at
($1,000).
105 and interest__c*ntf I
Springfield
STOCK AND BONDS—
D6
■
Spring Lt, H & P
at maturity, and
6% notes dated
Common
Rockford
Maturity.
$L527.30U July *20,6%
Outstanding.
Public
7 g F-A
1 1924
Cont. & Commi. Tr. & Sav. Bk., Chic
gold ($500 and $1,000) .ntf t
Trustee, or at Guaranty Trust Co, N. Y
Bonds.—A sinking fund is provided of $5,000 per annum for first 5 years
$10,000 per annum for second 5 years. $15,000 yearly for third 5 years and
$25,000 per annum for fourth 5 years.
Bonds are not subject to call.
They were originally 5s and matured Aug. 1 1920 but have been extended to
Aug. 1 1924 at 7%.
V. 111. p. 389.
ROAD.—Operates 76.48 m. of track from Grand Rapids through Holland
to Macatawa and Saugatuck, with steamer connection at Holland for Ghle.
—V. 78, p. 768; V. 79, p. 627; V. 96, p. 1422; V. 100, p. 140; V. Ill, p. 389.
1st mtge. Grand Rapids Hol.f 1900
& Lake Mich, $1,500,000/lnt. at
6 J-J
1901
4 g M-N
1,200,000 May 1 1921
$1,200,000 g ($1,000) _c*tf]Int. at Farmers' L. & Tr Co., N. Y.. trustee.
Evansv &
Prince
1st mtgef 1903
5 g A-0
270,000 April 1 1923
$400,000 gold($1.000)slnk-/Int. at Cit. Sav. & Tr. Co., Cleve.. Trustee.
Ing fund
c&r„tf I
or at First National Bank, New York.
Evansv Gas & El Lt 1st & ref f 1902
5 J-D
1,170,000 June 11932
mortgage $1,250,000 gold/Int. at Cont. & Com. Tr. Sr Sav. Bk., Chic.,
($1.000)
c*_tf[
Trustee, or at First Nat. Bk., New York.
reserved to retire
836.800 —
1,475.000 Aug
—
Interest.
Date.
Pub Uti! pref $3,000,000 cum
El
Ry 1st mtge/
Evansville
^
Com. Pow., Ry.&Lt. Co. owns
Leased to Michigan IiR. for 999 years
1st
[Vol. 111.
ELECTRIC RAILWAYS
50
5 A-O
663.000 April 1 1933
N. Y. and London.
Mich.
Co., Grand Rapids, Trustee.
Trust
&( 1909
5 F-A
612.000 Feb 1 ig29
tf\lnt. at State Sav. Bk. & Tr.Co.,Col.,0.. Tr.
ref! bonds are reserved to retire at or before
maturity the outstanding 1st M. bonds.
Remainder for extensions, en¬
largements and additions at 85% of cost with certain restrictions. .See
V. 102. p. 1352.
$138,000 first mortgage bonds in sinking fund.
Bonds.—Sufficient gen. and
EARNINGS.J—Year
ending Dec.
31:
Mos.—
12
1918
-
-V. 100, p.
Gross.
Oper. Exp.
Net.
Chgs. A Tax. Surplus.
$765,563
$442,647
$322,916
$126,119
$196,797
611,876
365,369
246,507
115,356
131.151
1923; V. 102, p. 614, 810, 1352; V. 106, p. 403.
(4)
Grand
All
the
Rapids
common
ref. mtge. 6%
Ry.—Trolley.
$500,000 pref. stock and the $1,200,000
owned by Com. Pow., Ry. & Light Co.
and
bonds
gen.
&
are
ORGANIZATION, &C.—Incorp. in Michigan in April 1900 as a suc¬
cessor company to the Consolidated St. Ry.
Owns and operates the entire
street railway system of Grand Rapids and vicinity.
Franchises expire in
1921
and in
1929.
Fares.—On Dec. 4 191S the co. was auth. by the Comm. to charge 6 cents.
V. 107, p. 2289.
See also V. 109, p. 887.
Effective June 20 1920, the co.
was authorized to charge a 7-cent cash fare with 16 tickets for $1.
V. 110,
p. 2387.
In May 1919 issued $2,500,000 1st M. 6% bonds in connection with the
refunding of an issue of $3,700,000 IstM. 5s due June 1 1919. V.108,p.2122.
STOCK AND BONDS—
Stock
com
$2,000,000 $100)
Pref $2,000,000 cum 5% ($100)
First
mortgage
$4,500,000/
Date.
Interest.
Outstanding.
$2,000,000
Maturity.
See text
Q-F
2,000,000 Nov'18, 1 X
1919
6 g J-D
2,500,000 June 1 1924
$500 and $1,000) g
c*/Michigan Trust Co., Grand Rapids, and
{
Bankers Trust Co., N. Y., Trustee
Gen. & Ref. Mtge $1,200,0001
1919
g 6 J-D
1,200.000 June 1 1924
g
lint, at Brooklyn Trust Co., Trustee.
ELECTRIC
Oct., 1920. j
Bonds.—Of the remaining 1st mtge. bonds §1,200.000. may be issued
against the present property under certain conditions and $800,000 may
be issued for 75% of the cost of permanent extensions, &c., under certain
restrictions.
Red.
as
whole at
a
10.1
and int.
on
4
weeks' notice.
Int.
payable in N. Y. City or Grand Rapids, Mich.
Tax-exempt in Michigan
V. 108, p. 2122.
The gen. mtge. bonds-are all pledged as security for the $750,000 secured
serial 6% notes of the Commonwealth Power Ry. & Lt. Co. V. 108, p. 2433.
Dividends.—5% was regularly paid on pref. stock to and incl. Nov; 1918.
None since.
REPORT.—For years endingl Dec. 31:
Year—
Gross.
Net (aft. Tax.).
Charges.
,
Pref.Div.
Surplus.
1919
$1,572,142
386,086
$289,813
*
$96,273
1918.1,278.348
257,861
233,087
100,000
def. 75,226
ROAD, &C.—28.80 miles double and 10-34 miles single track: total sinKle.
track equivalent, 67.96 miles.
143 passenger, 11 trailers and 27 misc.
and service cars. 2 pleasure parks, &c.
Power is obtained from Consumers
Power Co. under satisfactory long-time contract.
OFFICERS'—Pres., B. C. Cobb.;
V.-Pres., & Gen. Mgr., L. J. De
Lamarter; Sec. & Treas., W. E. Livingston.
Office, Grand Rapids, Mich.—
V. 106, p. 395, 499; V. 107, p. 2289; V. 108, p. 2122, 2433; V. 109, p. 887;
V. 110, P. 2387, 1661.
(5) SaglnawBay City Railway
Co.
Entire stock (except directors' shares) is owned by Com.Pow.,Ry.&Lt.Co.
ORGANIZATION.—This
is a consolidation of the Saginaw
Valley Traction Co. and railway dept. of the Bay City Traction & Elec. Co.
Fare Increase.—In July 1918 was authorized to charge a 6-cent fare
in Saginaw, this franchise, however, was revocable and in April 1919 the
people of Saginaw voted it down.
V. 108, p. 1276.
On July 31 1919,
however, an ordinance was passed providing for a 6-cent cash fare with
labor and school tickets at 5 for 25 cents.
This ordinance was approved
by the electors Sept. 9 1919.
V. 110, p. 465.
Date.
Interest.
Outstanding.
Maturity.
Stock. $2.600.000
All owned by Commonw. Pr., Ry. & Lt. Co.
First and refunding mortgage!
1910
5 M-S
$1,559,000 Mar 11935
c*tf /Michigan Trust Co., Grand Rapids, Trustee.
$5,000,000_($1.000)
Saginaw Val Tr 1st M. $850,-1 1899
7 g F-A
610,000 Feb
1 1923
000, g ($1,000 each)„c*ntf /Int. at Boston Safe Dep. & Tr. Co., Trustee.
Bonds.—Of the 1st & ref. bonds. $610,000 are reserved to retire Sag. Val.
Trac. bonds; remainder for 85% of cost of additions. &c.
Red. on any int
date on 60 days' notice at 105 and Int.
Int. at Hodenpyl, Hardy & Co.,
York
'
'V:!.•
•••••,
to
be canceled.
The extended bonds
465.
are
tax-exempt in Mich.
V.
110,
ROAD.—Operates about 64 miles of street railway track In 8aginaw and
Bay City, incl. interurban line between the two cities.
OFFICERS.—Pres., B. C. Cobb; V.-Ps., H. T
Wickes, J. E. Davidson
and J. A. Cleveland; Sec.. J. W. Glendening; Treas., A. J. Bray; Asst. Sec,
& Asst. Treas., S. E. Wolff.—V. 107, p. 502; V. 108, p. 1276; V. 110, p. 465.
.
(6) Consumers* Power Co.
Ail the common stock
Int.
month upon
60 days' notice, at 103% and int. for debentures maturing 3
from the redemption date; at 102% and int. for debentures
maturing 2 or more but less than 3 years from the redemption date; and
at 101% and int. for debentures maturing less than 2 years from the re¬
demption date.
V. 110, p. 564.
years or more
Dividends
on
have
Year—
Gross.
1919
--$11,439,094
1918
9,430,695
been
paid
cos.
$7^217,054
6,154,720
regularly since organization.
for 12 months ending Dec. 31:
Exp.Waxes.
—
Net.
$4,222,040
3,275,975
Charges.
$1,688,823
1,549,116
Bal., Surp.
$2,533,217
1,726.859
PROPERTY.—Owns and operates electric light and power proper¬
In Grand Rapids, Kalamazoo, Jackson, Flint, Saginaw, Bay Oity»
Pontiac, Battle Creek, Muskegon, Cadillac, Owosso, Manistee, Marshall.
Albion. Charlotte, Grand Ledge, Allegan, and a number of intermediate
cities and towns. Hydro-electric plants have about 101,000 h. p. and steam
plants about 101,000 h. p. capacity.
Total generating capacity about
202,000 h. p.
ties
OFFICERS.—Pres., B. C. Cobb. New York; V.-P., E. W. Clark, Phila.;
V.-P., Geo. F. Hardy, N. Y.; Treas., C. E. Rowl, Jackson; Sec., Robt.
Davey, Jackson.
V. 105, p. 1106, 1208; V. 106, p. 399: V. 107, p. 699,
2379; V. 110, p. 259, 264. 564; V. Ill, p. 1086, 1282, 1373, 1569.
Manistee Railway Co.
Incorp. In Mich, in March 1913.
Successor to Manistee Lt. & Trac.
Co., sold at foreclosure in 1912.
The Manistee Pow. & Lt. Co. then took
over the gas and electric properties but in Jan, 1916 these were respectively
acquired by the Michigan Light Co. and the Consumers' Power Co.
Does the street railway business in Manistee and Filer City.
Franchise
30 years from 1904.
Fare Increase.—In May 1918 fares were increased to 10 cents, with
commutation tickets at 3 for 25 cents and 7 for 50 cents.
Stock.—The company's entire $100,000 capital stock and $60,000
mtge. 5s, due 1943, are owned by the Com. Pow., Ry. & Light Co.
ROAD,—Operates 7.41 miles of track.
b. T and 85-lb.
Is owned by Com. Pow.„ Ry. & Lt. Co.
ORGANIZATION.—incorp. In Maine in 1910, and in Nov. 1914 merged
the following 11 companies (previously controlled by stock ownership)
Commonw. Power Co.. Grand Rapids-Muskegon Power Co., Grand Rapids
Edison Co., Flint EJec. Co., Saginaw Power Co., Bay Oitj Power Co..
Pontiac Power Co., Consumers' Power Co. (Mich.), Economy Power Co.,
Au Sable Electric Co. and Central Power Co,
This merger made the Consumers' Power Co. (of Maine) an operating
company instead of a holding company and on July 20 1915 it was granted
a certificate of authority to do business in Michigan.
V. 99, p. 1528, 1597;
pref.
EARNINGS.—Of combined
(7)
Sag.
1
p.
red. at 110 & int.
Pontiac and Flint issues are red. at 105 & int.
on Jackson Gas Co. bonds is payable at Hodenpyl, Hardy & Co., N. Y.
Debentures.—The 7% serial debentures mature $500,000 each Feb. 1
1922 to 1927, incl.
Red. all or part, or by series on the first day of any
are
-V
Val.'.Trac. bonds originally bore int. at 5% and matured
1920, but were extended for 3 years at 7%.
The extension agree¬
ment provides for a sink, fund of $75,000 (to be paid in three installments)
to be used to acquire bonds at not exceeding 101 and int., bonds so acquired
The
Feb.
lying bonds and the gen. & ref. bonds outstanding begins in 1920.
Moneys
in this fund to be expended for maint., replacements, renewals, purchase of
underlying or gen. & ref, bonds or for exts. & add'ns on account of which
no bonds shall have been or may be issued.
Series "A" are red. all or in
part on any int. date upon 60 days' notice at par and int. plus a premium
of K% for each year or portion of a year between the date of redemption
and maturity.
Series "B" are red., all or in part, on 60 days' notice at
105 and int., on or before July 1 1925, at 103 and int.; thereafter to and incl.
July 1 1930, and thereafter to maturity at 101 and int.
Tax exempt in
Michigan and tax refund in Pennsylvania. V. 110, p. 564; V. Ill, p. 1373.
$1,380,000 Michigan Light 1st & ref. M. bonds are reserved to retire
prior liens.
In addition to the amount reported as outstanding $1,559,500
are pledged under the general and refunding bonds.
Additional bonds
may be issued for 75% of cash cost of permanent extensions, &c., under
conservative restrictions.
Red. at 105 and int. on any int. date on 30
days' notice; tax-exempt in Michigan.
V. 102, p. 613, 890.
Jackson bonds
company
STOCK AND BONDS—
51
RAILWAYS
girder rails.
Operates
a
Gauge 4 ft. 8K in.
50-acre park
on
1st
35 to 100
Lake Michigan.
OFFICERS.—Pres., O. J. Holmes; V.-P., W. H. Barthold; Sec., J. W.
Glendenning; Treas., A. J. Bray.—V. 88, p. 158; V. 106, p. 2229.
.
V. 101, p. 369.
At the same time the RR. Comm. approved the then
outstanding issues of common and preferred stocks and 1st lien and ref.
5% bonds and authorized the company to issue additional bonds from time
to time upon procurement or retirement of the underlying bonds shown in
the table.
V. 101, p. 369.
In Jan. 1916 acquired the Cadillac Water &
Lt. Co. and the electric property of the Manistee Power & Light Co.
Amalgamation.-—In Jan. 1920 a plan for the amalgamation of the Michi¬
gan Light Co. with this co. was put into effect.
Under this plan the holders
of both the com. and pref. stocks of the former co. exchanged their holdings
(par for par) for stock of the latter.
This was done in order to enable the
cos. to obtain necessary capital for their respective needs.
V. 110, p. 261.
SRs»In Feb. 1920 co. brought out $5,000,000 gen. & ref. 7% bonds Ser. "A"
and $3,000,000 7% serial debentures, proceeds being used to reimburse co.
for the retirement of $388,000 Kalamazoo Gas 1st Mtge. 5s due Jan. 1 1920,
and for capital expenditures already made.
This financing will also provide
for future construction, expenditures including part of the cost of a large
new steam plant, which the co. contemplates constructing.
V. 110, p. 564.
In Sept. 1920 $2,500,000 gen. & ref. 7% bonds Ser. "B" were brought out,
proceeds being applied to the retirement of certain underlying bonds and to
additions and exteasions. V. Ill, p. 1373.
In Dec. 1918 the co. called for redemption on Jan. 17 1919 at 100K and
int. the $4,000,000 2-yr. 6% secured notes, due July 1 1919; the $5,334,000
1st lien & ref. bonds pledged thereunder being offered for sale.
V, 107,
p. 2379.
^;v-V'v
Sale of Preferred Stock to Customers.—V. Ill, p. 1282i
The $367,500 Bay City Gas Co. 1st M. 5s due June 1 1920 were taken
*
maturity.
up at
Date.
STOCK AND BONDS—
Common $20,000,000 ($100)
-
-
Pref $20,000,000 ($100) 6 %cum
1st lien and ref M , $35,000,-
000, gold ($1,000)
ref. M,
&
Gen.
—
—c*tf
Series
Interest.
Outstanding.
Maturity.
$14,425,900
12,776,000 Oct'20, IK
1911
22,254,000 Jan. 1 1936
Int. at Harris Tr. & Sav. Bk., Chicago,
Trustee, or Harris, Forbes & Co., N. Y.
"A."]
z
Q-J
5 g J-J
1920
7 g J-J 1
5,000,000 Jan
1 1930
"B"
1920
7 g J-J 1
2.500,000 July 1 1935
(See text) g.
c*tf. National City Bank, N. Y., Trustee.
debentures $3,000,000] 1920
7 g F-A 1
3,000,000 See text.
$100, $500 & $1,000) g-c*tfl Central Trust Co., N. Y., Trustee.
Mich. Light 1st & ref. M gold( 1916
5 M-S
2,582,000 Mar 1 1946
($1,000, $500 and $100)-c*lUnion Trust Co., Detroit, Trustee.
Flint Gas Co 1st M, $500,000/ 1904
5 M-N
493.500 Nov. 1 1924
($500 & $1,000)
c*ntfllnt. at Mich. Tr. Co., Grd. Rap., Trustee.
Jackson Gas Co mtge, $350,-/ 1897
5 A-0
340.000 April 1 1937
Series
Serial
-
($1,000)—c*ntf (Illinois Trust & Sav. Bank, Chic., Trustee.
mtge/ 1902
5 J-J
179,000 Jan 1 1927
$230,000 g ($1,000)--c*tf lint, at Mich. Trust Co., Grd. Rap., Trustee.
000
gold
Pontiac Light Co consol
Coimu
Jfow
1st
M,
$4,000,-1
1904
1,078,000
5 J-D
Dec
1
1924
000 g sink fd ($ 1,000) „c*tf lint, at First Trust & Sav. Bk., Chic., Trustee
Grd Rap-Musk Pow 1st Ml 1906
5 M-S
511.000 Mar 11931
$7,500,000, gold
Water & Lt
ttlint, at 1st Tr.&S.B., Chic., or lstN.B.,N.Y
1905
5 M-S
125,000 Sept 1 1925
\lnt. at Michigan Trust Co., Gd. Rapids, Tr.
Stock.—Pref. stock is red. at 105 and accr. div.
Amount reported as out¬
standing includes $102,700 reserved to retire a like amount or Mien. Light
Cadillac
1st Mf
(closed)
nrof
stock»
Y
Bonds.—Of 1st & ref. bonds, sufficient are reserved to retire underlying
bonds, and remainder is-reserved under certain restrictions for extensions
and add'ns at 80% of cost.
In addition to the amount reported as out¬
standing $901,000 are pledged under the gen. & ref. Series "A'rbonds.
Subj.
to call any int. day at 105 & int.
Sink, fund of 1 % p. a. of bonds out began
Jan. 1 1915.
V. 92, p. 465, 526, 1458.
Up to April 1 1920 no bonds
were held in sinking fund.
The gen. & ref. 7s are issued c* in the denomi¬
nations of $100, $500 & $1,000; and fully registered in denom. of $1,000,
$5,000 & $10,000.
As security there is pledged under this issue $3,175,900
com. stock (entire issue), $2,645,800 pref. stock
(96% of entire issue)
and $1,559,500 first and refunding bonds of the Michigan Light Co.,
together with $901,000 of the company's first lien and refunding bonds.
As further amounts of the preferred stock of the Michigan Light Co.
acquired and as additional 1st & ref. mtge. bonds of that co. and
lien .& ref. bonds of the Consumers Power Co. are issued, they shall
are
1st
be
promptly pledged under the gen. & ref. mtge.
Authorized amount un¬
limited:
Additional bonds issuable under certain restrictions for (1)
the acquisition or retirement of underlying bonds; (2) the redemption or
retirement of bonds of another series; and (3) 75% of expenditures, made
for permanent
extensions, enlargements and additions. Annual sink¬
ing fund of 1% of all the underlying bonds in the hands of the public
and gen. & ref. bonds issued and outstanding at the preceding Dec. 31,
begins March 1 1924; to be used to acquire or retire underlying bonds or
gen. & ref. bonds of any series.
A general reserve fund of 4% of the under-
UNITED
LIGHT 5c
RAILWAYS CO.—(See Map, page 53.)
ORGANIZATION.—Incorporated in Maine In July 1910, per plan in
V. 91, p. 96.
Owns over 99% of the common stocks, over 23% of the
pref. stocks and over 47% of bonds and notes of the following companies*
La Porte (Ind.) Gas & Elec. Co.
Cadillac (MichQ Gas Light Co.
Mason City & Clear Lake (la.) RR.
Chattanooga (Tenn.) Gas Co.
Cedar Rapids (la.) Gas Co.
Ottumwa (la.) Gas Co.
Cedar Rapids & Marion City Ry. Co. People's Gas & Elec. Co., Mason O'y.
Fort Dodge (la.) Gas & Electric Co. Tri-Oity Railway & Light Co.
Grand Rapids Grand Haven & Mus¬
kegon (Mich.) Ry. Co.
The Grand Rapids-Grand Haven & Muskegon Ry. was acquired in Jan.
1912; V. 94, p. 209.
The Tri-City Ry. & Light Co. was taken over in June
1912; V. 94, p. 769.
The Cedar Rapids & Marlon City Ry. Co. was
acquired In July 1912.
In Feb. 1913 purchased the People's Gas & Electric Co. and the Mason
City & Clear Lake RR.
In 1913 also acquired the Iowa & Illinois Ry.
and the Iowa & 111. Ry. Term. Co., but In Jan. 1916 these two cos. were
consolidated with the Davenport & Muscatine Ry. (forming the Clinton
Davenport to Muscatine Ry.) under the management of the Tri-Oity Ry.
& Light Co.
OPERATIONS.—Does entire gas business in Davenport, Cedar Rapids
(supplying also suburbs of Marion and Kenwood Park and intervening
territory), Ft. Dodge, Iowa City, Mason City, Bettendorf, Ottumwa ana
Muscatine, la.; Cadillac, Mich., La Porte, Ind., Rock Island, Mollne,
East Moline, Milan, Silvls and Watertown, 111.; and Chattanooga, Tenn.;
entire electric-light and power business in Davenport, Ft. Dodge, Iowa
City, Mason City and Muscatine, la.; Rock Island, Moline and East
Mollne, 111., and La Porte, Ind.
Has hot water and steam-heating system
In Davenport and Mason City, la., and La Porte, Ind.
Operates street
railways in Cedar Rapids, Marlon, Mason City, Muscatine and Davenport,
la., and Rock Island, Mollne and East Moline, 111.; interurban railways
are operated between
Cedar Rapids and Marlon, la.; Mason City and
Clear Lake, la.; Davenport and Clinton, la ; Davenport and Muscatine,
la.; Davenport, la., ana Rock Island, Mollne and East Mollne, III., Grand
Rapids, Grand Haven and Muskegon. Mich.
In all. 55 communities, with
a
population estimated at 600,000 are served.
Franchises expire from
1920 to 1960; approximately 73% are Indeterminate or extend beyond
1932.
In Nov. 1917 Issued $1,500,000 6% Bond Secured Gold Notes, series
"A," to retire $750,000 6% notes maturing Jan. 1 1918 and to reimburse
the treasury for additions, extensions and improvements.
V. 105. p. 2185.
In Aug. 1918 issued $1,250,000 7% series "B" notes to pro\dde for, or
reimburse the co. for additions, extensions and impts., or for acquisition
of new property.
V. 107, p. 605.
In May 1919 Issued $500,000 1st & ref. mtge. 5% bonds, proceeds of
which will partially reimburse the co. for exts., add'ns. and impts.. including
the installation of a 22,500 k.w. turbo-generator in the Moline Power
Station.
In
V.
108. p. 2123.
co. issued $1,500,000 1-yr. 7% sec. notes series "C"
coupon notes due Jan. 1 1920.
V. 109,
2264.
In March, 1920, brought out $2,000,000 bond secured 7% notes dated
April 1 1920 to refund an issue of $1,500,000 6% secured notes series "A"
and for other corporate purposes.—V. 110, p. 1416.
Fares.—In Dec. 1918 a 6-cent fare franchise was favorably acted upon at
a city election of Cedar Rapids.
V. 107, p. 2478.
See also V. Ill, p. 1184.
In Aug. 1919 was auth. by the 111. P. U. Comm. to charge a straight 7-cent
fare in Illinois cities.
In Aug. 1919 the City Council of Davenport, la.,
passed an ordinance raising fares to 7 cents.
Transfer Agencies.—stocu transfer agencies are maintained In New York.
Dec., 1919, the
to refund
a
like amount of 6%
p.
See V. 97. p; 1358.
bearing the name of United Light & Railways Co.
incorp. in Delaware with a total authorized capital of $50,000,000.
It is understood that this was done with a view to prepare the way for a
readjustment of the present capital.
V. Ill, p. 1084.
In Chicago and In Grand Rapids.
On Sept. 8 1920 a co.
was
STOCK AND BONDS.—
Common $12,500,000 (3100)..
Date.
Interest
Outstanding. Maturity
See text
Q-J
$6,868,400
pref $12,500,000 ($100)1
6% cum.
/
Q-J
10,054,400
Oct'20, 1
First & ref mtge gold ($100,/ 1912
9,123,300 June * *93
1
6 g J-D
$500 & $I.000)...-C*&r.tflNew York Trust Co., N. Y.. Trustee.
Oonv debentures gold ($100.1 1916
6 g M-N
2,000,000 Nov I 1926
$500. $1,000. Ac)..c*&r*tf lint, at New York Tr. Co., N. Y.. trustee. Sec notes*(ser '20) $2,000,0001 1920
i 7 g A-0 1
2,000,000 Apr 1 1922
($100, $500&$1,00Q) g.c*tf/Int. at New York Trust Co., N. Y., Trustee.
Secured notes, ser. "B
($100/
1918
7gA-0
1,500,000 Apr 11923
$500 & $1.000)--/
c*tf\Int. at New York Trust Co.. N. Y., Trustee.
Sec conv notes, ser r'0" ($100./ 1919
7 g J-D 1
1,500,000 Dec I 1920
$500 & $1,000) g
c*tf {int. at New York Trust Co., N. Y., Trustee.
Chattanooga Gas first mtgef 1907
5 J-J
491,000 Jan
1 1927
$1,500,000 g ($1,000)Int. at Con. & Com. Tr. & Sav. Bk., Chic.,
I
Trustee, or First Nat. Bank, New York.
People's Gas & EI GenyMtgef 1906
6 A-O
370,000 April 1 1931
$500,000
tf I Int. at Central Tr. Co.. Chicago, Trustee
1st
.
ELECTRIC
For securities covering railway properties see separate companies below.
Stock.—First pref. stock is redeemable at 105 and accrued divs.
The
2d pref. stock was conv. into 1st pref. or com. stock, share for share, in 1915.
Com. is only stock with voting power.
V. 91, p. 96, 519; V. 92. p. 1110; V.
95, p. 421.
$325,500 additional com. stock is held in treasury. $493,100 of
Gas Co. pref. stock is owned by the United Light &
the outstanding Chatt.
Railways Co.
'
-*
Bonds.—Int. on first and ref. mtg. bonds Is payable at office of trustee
or Continental Sc Commercial Trust & Savings Bank, Chicago.
Mortimer
N. Buckner is co-trustee.
$5,715,500 bonds (not included in amount out¬
standing above) are deposited as security for notes and $110,300 are In
treasury.
Additional bonds may be issued for refunding underlying bonds
and for 75% of par value of preferred stocks of underlying companies re¬
deemed
or
purchased. 75% of cost of betterments, improvements and addi¬
tions, and for 75% of cost of additional property, under certain restrictions
Redeemable as a whole or in part on any Int. day at 102>4 and int. on 60
A depreciation fund of 2% on ail bonds out became operative
of bonds in V. 102, p. 1898.
Chattanooga Gas
a sinking fund of $15,000 per annum from 1912 to 1926
inclusive, on first $500,000 bonds and 2% additional on any further bonds
issued.
Subject to call at 105 arid Int.
V. 84, p. 805.
$7,000 of bonds
reported outstanding owned by United Light 8c Railways Co.
The bond secured notes "series of 1920," will be secured by cash equal to
the face amount of notes or 1st & ref. 5s In the ratio of 1 33 1-3%.
Are
red. all or in part at any time upon 4 weeks' notice at 101 and int. up to
April 1 1921; at 100H and int., thereafter up to Oct. 1 1921; and at 100 and
int. thereafter.
Penna. 4 mills tax refunded.
V. 110, p. 1416.
Series
"B" of 1918 and Series "C" of 1919 are secured by 1st & ref. 5s in like ratio.
Additional bonds of these or subsequent series may be certified only upon
deposit of additional 1st & ref. 5s in the same ratio.
Subsequent series
may not mature later than Nov. 1 1927.
Proceeds from sale of additional
notes may be used for additions, &c., and for acquisitions.
Notes outstand¬
ing at any one time not to exceed $5,000,000.
Co. will pay normal Federal
income tax not in excess of 2%; Pennsylvania 4-mill tax refunded.
Series
"B" are redeemable, all or in part, on any interest date on four weeks':
notice, at 100)4 and int. to Oct. 1 1922, and thereafter at 100 and int.
V. 107, p. 605.
Series "C" were conv. at holder's option, upon 10 days'
notice, at any time prior to Oct. 1 1920 or their earlier redemption, into
1st & ref. mtge. 5s of an equal principal amount, and cash equal to 15%
to the principal amoun t of notes so converted.
Red. all or in part at 100 and
int. on any Int. date upon 30 days' notice.
V. 109, p. 2264.
Debentures.—The direct obligation of the co.
No mortgage may be cre¬
ated Junior to the 1st & ref. M. without equally securing the debs.
At no
time shall there be outstanding debs, in excess of 75% of the total of 6%
pref. stock outstanding.
No further debs, may be issued unless earns
available for interest charges are 3 times the requirements on the deb
then outstanding, inch those applied for as well as the Int. upon any un¬
secured debt.
They are callable, all or part, upon 4 weeks' notice to Nov. 1
1921 at 102 and int. and thereafter at 101 and int.
Convertible upon 10
days' notice.
in
1917.
See description
Co. bonds have
days' notice to Nov. 1 1923 into 6% pref. stock at the rate of $1,125
value for each $J ,000 par value deb.
p.
State tax refunded.
Pa.
V.
par
103,
2079.
Depreciation Fund.—The co. must set aside yearly not
less than 12H% of its gross earnings, any part of which not actually ex¬
pended in any calendar year for maint., &c„ to be used for extensions, ad¬
ditions. &c., against which no additional bonds may be issued,
Maintenance ana
Dividends of 1J4 % have been paid quar. on 1st pref. since Oct. 1910 to
and incl. Oct. 1920.
The second pref. received % % quar. from Oct. 1910
to July 1915.
Was then converted into 1st pref. and com. stk. As to stock
div. on com., see V. 94, p. 1250.
Divs. of 1% on com. were paid quar.
from April 1913 up to and incl. July 1914.
None to Oct. 1916, when 1 %
paid, same rate quarterly since to and incl. Oct. 1919.
was
Jan. 1920 div.
deferred (V. 109, |p. 2357).
None since.
A stock dividend of 1% payable
in common stock, was paid April 1 1914 in addition to the regular dividend
of 1%
paid
on
the
same
date.
V. 98, p. 525.
REPORT.—Report for calendar year 1919 in V. 110, p. 2071, 2084.
Combined Earnings of Subsidiary Companies.
Dec. 31 Year—
Cross.
Exp. & Tax.
Net.
1919—
$9,951,165 $7,284,532 $2,666,633
1918
6,415,106
9,015,559
-
2,600,453
Int., &c.
$1,746,685
1.681.910
Surplus.
$919,948
918.543
Income Account, United Light & Railways Co. for Years ending Dec. 31.
1918.
1919.
Earns,
on
1919.
Interest
stks.
$910,553
Other income- .1,300,745
$910,975
1,104,196
of sub. cos_
Total
$2,211,298 $2,015,171
Exps. & taxes.
222,215
157,904
notes.
earnings .$1,989,083 $1,857,267 Bal.,
—
..
$900,971
$801,500
605,169
607,386
deduct.$l,506,140 $1,408,886
surplus. $482,943
$448,382
1917.
M, cu. ft. of gas sold
1,439,979
K.w.h.elec. energy soldllO,501,901
Revenue passengers:
Urban railways..
Interurban railways..
34,771,478
3,241,597
1918.
1919.
1,670,310
1,875,434
2,008,539
132,204,323 160,617,416 154,561,096
40,992,640
2,785,263
43,005,687
2,572,568
42,157,029
2,785,168
PROPERTY.—Electric light and power is furnished from 10 central
a total generating capacity of 103,650 h. p. of which 6,450
stations with
h. p.
is purchased water power; 155 miles of high-tension transmission lines,
2,695 miles of distributing lines, sub-stations, &c.
Gas is supplied from
11 stations with 996.97 m. (3-inch equiv.) of gas mains; annual sales are in
of 2,205,863,500 cu. ft.
The companies combined have over 62,055
and over 42,242 electric customers.
The street and interurban railways
a total mileage of single track of 276.51 miles.
excess
gas
have
OFFICERS.—-Pres.,
Frank
T.
Hulswit,
Chicago;
V.-Ps.,
Richard
Schaddelee, Grand Rapids: B. J. Denman, Davenport, and T. J. Weber,
Grand Rapids; Sec. & Treas., L. H. Heinke, Grand Rapids; Asst. Sec. &
Asst. Treas., F. F. Kelley; Gen. Mgr., Richard Schaddelee; General office,
Portland, Me.; executive office, Chicago; operating headquarters, Grand
Rapids; operating headquarters for Iowa district, Davenport, Iowa.—
V. 109, p. 2357; V. 110, p. 1291, 1416, 2071, 2084; Y. Ill, p. 190, 494, 897,
1084, 1184.
(1)
Grand
Rapids Grand Haven & Muskegon Ry.—Electric road
Entire stock owned by United Light & Rys. Co.
Third-rail system.
ORGANIZATION.—Incorporated in Michigan on March 6 1899. Owns
and operates an electric road on fenced right of way, connecting the three
cities named in the title, a distance of 41 miles.
Franchises In ail towns
through which It passes extend to 19219; otherwise private right of
way.
Rates.—In July 1918 applied to the I.-S. O. Comm. for auth. to increase
class rates from points on the line to Milwaukee, Wise., by 25%.
In
July 1918 filed suit in the U. S. Dist. Court at Grand Rapids, seeking to
enjoin the State from enforcing the law fixing the maximum rate for interin Michigan at 2 cents a mile.
V. 107, p. 291.
In Dec. 1918
Judge C. W. Sessions, in the U. S. District Court at Grand Rapids, Mich.,
held valid the Michigan 2-cent fare law thus preventing the company from
collecting 3 cents per mile.
V. 108, p. 78.
In May 1919 the Michigan
Legislature passed a bill increasing passenger rates on steam and electric
interurban roads from 2 to 2)4 cents and 3 cents per mile.
See under
caption "United Lt. & Rys. Co.," V. 108, p. 2123.
urbans
STOCK AND BONDS—
Date.
^
J31 stock.—V. 94, p. 768. UnitedUnited 6% 1st Rys. Co. owns 50 2d pref.
Rys. Lt., & nref. and $12 $8,915,900
% 16 2-3 cash, $16 66 2-3
The
common
and $173,800 preferred stock.
ORGANIZATION.—Incorporated in Connecticut March 3 1906 and
owns all the stock, except directors' shares, of the following companies
Iowa City Light 8c Power Co.
Tri-City Railway Co. or Iowa.
Moltne-Rock Island Mfg. Co.
Tri-City Ry. Co. of Illinois.
Moline Rock Island 3c East. Tr. Co. People's Light Co.
Moiine E. Moline Sc Watert. Ry. Co. C. D. & M. Ry. Co. [but see belowl
Muscatine Lighting Co.
People's Power Co.
V"
UO
QUI
vuw
VAVVliv
V
„
,
Controls all gas plants, electric-lighting companies and street railway
in the cities of Davenport, Iowa City, Muscatine, Bettendorf and
lines
Rockingham, la., and Rock Island, Moiine, East Moline
towns in
and other smaller
Illinois, and an Interurban connecting Muscatine, Davenport and
Population served, approximately 177,000.
Railway franchises
extend to 1930, 1935 and 1951; electric franchises to 1935 and 1943, and
gas franchises to 1929, 1933 and 1943.
In Jan. 1916 the properties of the Iowa 8c Illinois Ry. and Iowa & Illinois
Terminal Ry. companies (formerly owned by the United Light & Rys. Co.)
were acquired and merged with the Davenport Sc Muscatine Ry.. forming
the Clinton Davenport & Muscatine Ry.
All of the $1,063,000 1st M.
bonds of the Iowa & Illinois Ry
outstanding have hwn acquired bv the
Tri-City Railway & Light Co.
In Sept. 1920 the United Light & Power
Co. and the Watchtower &i Campbell's Island Park Co. which had been
owned by the Tri-City Ry. & Light Co. were dissolved.
V. 111, p. 1084.
Clinton.
auth. by
purchase the tracks and equip, of the Moline Rock
Co.
The former co. issued $195,000 bonds in
connection with the consolidation.
V. 110, p. 2488.
Compare V. 110,
Sub Cos. Consolidate.—The Tri City Ry. of 111., in June 1920, was
the 111. P. U. Comm. to
Island
&
Eastern
Trac.
972.
p.
Federal Court, handed down a
In Dec. 1919, Judge M. J. Wade, in the
authorizing the co. to sell the Clinton Davenport & Muscatine
Ry., the Muscatine lines of which had been idle from Aug. 1
1919.
V. 109. p. 2172, but see V. 110. p. 168.
No further information.
Fare Increases.—On July 20 1920, fares on the Rock Island, Moline,
East Moline and Silvis lines were raised from 7 to 8 cents.
Shortly after
decision
Tnterurban
this these rates were increased to 10 cents.
V. Ill, p. 589.
In Sept. 1920
the co. began charging a 9-cent fare in Davenport but is issuing rebate
slips pending a final hearing on this question.
V. Ill, p. 1084.
Interest.
Outstanding.
Maturity.
$9,000,000
See text
6 Q-J
3,000,000 Oct.*20, L
1906
5 g A-0
7,081.000 April 1 19:
f
c&rtfflnt. at N. Y. Trust Co., N. Y„ Trustee.
$20,000.0001 1910
5 g J-J
10 527,000 July 1 1930
STOCK AND BONDS—
Common
Date.
$9,000,000 ($100)-
-
Pref $3,000.000 6% cum ($100)
Ooll trust first lien mortgage!
$9,000,000
s
ref mtge
&
1st
----
gold..
c*&r*tf (Int. at Central Trust Co., N. Y., Trustee.
Tri-City Railway 1st M
tf 1902
5 M-S
54.000 Sept 1 1922
Iowa
City Light & Power
1912
5 M-S
400.000 Sept 1 1932
refunding mortgage
($1,- Interest at Continental & Comm'l Trust 8c
000,000 ($1,000)
c*tfl
Sav. Bank, Chicago, Trustee.
Iowa City Gas & Electric 1st/
1909
6 M-N
220.500
See text
mortgage $400,000
trlnt. at Chic. Tr. & Sav. Bank, Trustee.
Stock.—Pref. stock Is redeemable at 120 and accum. divs.
1213.
p.
Listed
on
See V. 827
Montreal. Toronto and Louisville Stock Exchanges.
Bonds.—Of the $9,000,000 coll. trust bonds, $1.750,000 have been
retired
by sink. fd.
SubJ. to call on any int. date at 105 and Int. A sinking fund
$50,000 per ann. from Jan. 11908 to 1913; $150,000 for succeeding 5 years
then $250,000 per ann. to maturity.
Coupon bonds are in denomination
of $1,000 and registered bonds in $1,000, $5,000 or $10,000 and multiples.
They are listed on N. Y. Stock Exchange.
Of the 1st & ref. bonds, suf¬
ficient are reserved for prior liens, and remainder for 85% of cost of ad*
dftlons and Improvements. Subject to call at 105 and Int. on any Int. date.
Sinking fund of 134% of bonds out begins Feb. 1 1924.
V. 93, p. 1465
$7,326,000 of outstanding 1st 8c ref. bonds are owned by Un. Lt. 8c Kys.Oo.
Of the $54,000 Tri City Ry 1st M. 5a .United Light 8c Rys Co. owns $13,000.
All the outstanding Iowa City Gas & Elec. Co. 1st Mtge. bonds are
owned by Tri-City Ry. & Light Co.
They mature serially $4,000 to $9,000
annually from May 1 1912 to May 1 1927 and $135,000 in 1928.
SubJ. to
call at 105 and int. on any int. date.
Additional bonds may be issued for
80% of cost of extensions and betterments.
$1,500 owned by Un. Lt.
& Rys. Co.
or
Dividends.-— First div. on pref., 1)4%,
paid July 1906, and 1H% quar.
A dividend of 1% was paid on the com¬
all of this stock is owned bv United Light
& Ry. Co. and previous disbursements were not made publlcl, and auar.
to and incl. April 1918.
In 1919. Jan., 1%; April, 1%; July, 1%; Oct.,
1%; Dec., 5%.
In 1920, Oct., 1%.
since to and Including Oct. 1920.
mon
stock Jan. 1 1915 (practically
ROAD.—Operates over 170 miles of standard-gauge track, connecting the
cities of Clinton and Davenport, Iowa, and Rock Island, Moline and East
Operating Statistics.—Years ended Dec. 31:
1916.
(2) The TrbCity Railway & Light Co.
r
_
.
_
In June 1912 control was acquired by the United Light 8c Rys. Co.
Trl-CIty Ry. 3c Lt. com. stockholders received In exchange for their shares
and
Preferred divi¬
dends
Total
Net
1918.
on
bonds
[Vol. 111.
RAILWAYS
Interest.
Outstanding.
Maturity
Stock. $1,200,000 ($100)$1,200,000
1st mtge, $1,500,000 ($1,000)1 1901
5 g J-J
1,500.000 July 11926
gold
c*tf J Int. at Guaranty, Trust Co., N. Y., Trustee.
Moline, 111.; Including an extension to Muscatine placed In operation in
1912 and city lines in Muscatine.
80-lb. girder and 60 to 75-lb. T rail.
OFFICERS.—Pres., B. J. Denman, Davenport; V.-P., Richard Schadde¬
lee, Grand Rapids: V.-P., H. E. Weeks; Treas.. Frank T. Hulswit; Sec.,
II. E. Littig.—V. 110, p. 168, 970, 2488, 2568; V. Ill, p. 295, 589, 1084.
(3) Cedar Rapids & Marlon City Ry.
ORGANIZATION.—Inborn. May 1891
In Iowa.
Franchise
In
Cedar
1941 and Indeterminate on interurban.
The United Lt.
$584,801 stock and $184,000 bonds.
Fares.—At a city election of Cedar Rapids held on Dec. 17 1918 the co.
was auth. to increase fares to 6 cents.
In Sept. 1920 fares were raised to
Rapids expires
& Rys. Co. owns
8 cents.
STOCK AND BONDS—
Date.
Interest.
Stock $1,000,000 ($100)
First mtge $250,000
($1,000)/ 1891
Outstanding.
$850,000
5 J-J
Maturity.
184,000 July
1 1931
ntfilnt. at Amer. Tr. Co.. Boston. Trustee.
c
Bonds.—Of remaining bonds $66,000 are held in sink. fund.
ROAD.—Owns and operates road 28.90 miles in length, extending from
Cedar Rapids. Iowa, to Marion; second track, 2.28; sidings, 3.17; total of
ail. 28.90 miles.
Rails, 45, 60 and 80-lb. T.
(4) Mason City & Clear Lake Railroad Co.—A trolley road.
In Feb. 1913 the United Light & Rys. Co. acquired control.
ORGANIZATION, ETC.—A trolley road.
Owns right of way
Operated since July 1897.
33 feet wide from Mason City to Clear Lake, 9 miles
Length of line within and between the two cities, 18.6 m.
Handles all
freight coming over Minn. 8c St. Louis, Chic. R. I. 8c Pac., Chicago & North
West, and Chic. Great West, railways between Mason City and Clear Lake,
Franchises run until Oct. 31 1935.
Fare Increase.—In Sept. 1920 fares were raised to 8 cents.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$400,000
1912
6 g J-D
316,000 June 1 1932
c*tf/Int. at First Tr. 8c Sav. Bk., Chic., Trustee.
Stock $1.000.000-—
Genera] mortgage $2,500,0001
gold
($1,000)
Bonds.—Remaining bonds are for extensions and betterments at 75% of
cost, providing annual net earnings are 1H times int. charge (incl. bonds
to be issued).
Red. at 105 and int. on any int. day.
Sinking fund of 2%
per annum
or
began June 1
for purchase of bonds.
Co.
1913 to provide for additions and betterments
$8,500 or outstanding bonds owned by U. L. Rys.
V. 94, p.. 1764.
-
Stock.—Entire stock, except directors' shares, deposited under
United
Light & Rys. Co. 1st and ref. mtge.
Bonds.—The interest on outstanding bonds was guaranteed for 5 years
by the Security Investment Co, of Pittsburgh.
See V. 76,
p.
47.9.
$2,000
of outstanding bonds held by United Light 8c Railways Co.
northwesterly direction to
branch to Spring Lake and Grand Haven.
Connects at
ROAD.—Extends from Grand
Rapids In
a
Muskegon, with a
Grand Haven with Goodrich Line of steamers for Chicago and
Crosby Line
of steamers for Milwaukee, which are In operation all the year round.
Total
track, 56.54 miles, of which 4.22 m. in Grand Rapids and 3.43 m. in Mus¬
kegon are operated under favorable trackage agreement with the Grand
I
Rapids Ry. and the Muskegon Trac. 3c Ltg. Co.
21 passenger, 12 express and 8 work cars.
—V. 100, p. 901, 1672; V. 107, p. 82, 291.
70-ib. T rail.
Also, does
a
Operates
freight business.
GREEN BAY,
WISCONSIN
WIS.
PUBLIC SERVICE CO.Controlled
by Wisconsin Secur¬
ities Co. (see under "Milwaukee")
ORGANIZATION.—Incorp.
in
Wise,
in May 1905, as Green Bay
1911 to Wisconsin Public Service Co.
Acquired on Jan. 1 1912, Northern Hydro Elec. Pwr. Co. and all capital
stock of Green Bay Gas & Elec. Co.
On Jan. 1 1914 Green Bay Gas &
Elec. Co. was consolidated and the Minahan Elec. Co. was purchased and
consolidated.
Owns hydro electric power station at High Falls, 61 miles
north of Green Bay and undeveloped water power at Johnson Falls, 4 miles
below High Falls.
Furnishes electric light and electric power to Green Bay,
Wis. and suburbs.
Owns electric power transmission lines, High Falls to
Green Bay—Green Bay to Manitowoc,-and Two Rivers, and Green Bay
to Wrights town, Kaukauna and Brillion—in all 83.11 miles.
Furnishes
electric power to Manitowoc, Two Rivers, Wrightstown, Denmark, Brillion,
Chilton, Pound, Coleman, etc.
Owns steam power station in Green Bay
Trac. Co.
Name changed in Dec.
ELECTRIC
OCT., 1920.J
5J
RAILWAYS
Swan River
Park Rapids.
]°
Cloquet
/Superior
,Sauk Centei
Milaca
-St.
Cloud^
(Prentice
'Turtle take
'Stillwater
^illmar;
:SJ^PAUT^—VcWppewa Falls
Red'Wing
(Faribault'
Mankato;
Winona
Watertown
isconsfo
1ADIS0N
M ASO N
M
F0RTDOJDG
_
.
/Bat tie
^Yebster ipity
RAPIDS
HAVE'ljJt^01'landX^'^^iUANSING
^DuhuniifA
^-Waterloo
,
/^GRAND
GRAND
Rolfe
N^J
Creek^
aukegan
MARION^^Freepoj
'Marshalltown'/\
'
.
Q-^-V~-Savanna\„
nRT^
Jackson.
Adrian,
MJ3M-O«5!
CEDARRAP1
IOWA
A
/Atlantic/
'PES
N
MOINESXXC/x N
i^fcouiiciiB'iSr^
j-1
/
« ...
—'
~?OLE00%
^South/Bend
X/Goshci
(EA5T-JVIOLI
J,,
ffi-f'gss M USCATI N.I
^ekalobsaf?X7
OS ilea
Aurora/
tZL£>/;YFo'atox
MOLINI
w
i
■
■
^
,
—
L^N
-FtrWa^neJ
Wabash^
Se/moS^J-—-f
Vdls^XVV^S^^BtetffnlngtK
uahnellA
^okornhj
T7 tyyVtki
Maj'ion^
^Frankfort'
Piqua
-n4^OWI—
Clinton
I
j)an\
,/</V
J^Dayton
jK^vmekY/l AiS5
Aloberly
o,
;oluuibu8
Mexico
.
!KANSA"S"CITY
—Sqdalia/^/
St.Charie^
_
s,a
*P
'JEFFERSON CljY
FRANK FORT'
sxiti
[Lexington^
^Cuba
}eeeola
OL
Lebanon,
/Salem
Winchester
'
Carbondale^/^^^Sn^
A
MAP
ape
Showing Location and Nature of Properties
'
■
OF
'
Y\
ehonon/
Owensbbr<T
qJ
(^iraijdeauf
\\J
AducaliXx"
AND
PROPERTIES
,
Dickson
NTO
Corbin
_
"jellico/
„<|jf
ASSOCIATED COMPANIES
KEY
V
COMPANY
_
i
'\Y
rBowling Green
In
IHopkfnevilk
UNITED LIGHT AND RAILWAYS
* \ ^Livingston
'
Greensburg
/
.jashviu.e~T
\
JE
\S
Harriman\
)
rr^
E//
S-
ColpmbiaX-^
ioma>
Tullabc
Q
Gas (only)
X
Electric (only)
^
Gas and Electric
^
Gas, Electric and Railways
3
Interurban Railways and Terminals
Gas and
Railways
(Street and Interurban)
CHATTTflNQOgi
r
Palto;
Marietta
JtflK
hbwman/McDonough.
\ o/^xC\
54
ELECTRIC
RAILWAYS
and leases from Wisconsin Securities Co. steam power station in Manitowoc.
High voltage line now under construction
by subsidiary corporation to
rates
extended.
The Int.
I
Gross
Net
Int. &
Pref.
Com. Balance,
Earnings. Earnings.
Taxes.
Divs.
Divs.
Deficit.
$226,356
$60,517
$54,233
$9,000 ;
—
$2,716
June 30 1916
216,510
60,766
52,137
9,000 I
371
June 30 1915—201.494
59.925
52.139
9,000
$8,750
9.964
Latest Earnings.—For cal. year 1917, gross, $236,423; net. after taxes.
Year
ending—-
$39 691
'
ROAD.—47.7 miles of track.—V. 107,
Concord
(3)
Mass. Consol.
Maynard
RAILWAYS.
provided.
Rights of way have been partly secured
from Orange to Millers Falls.
are
($1,000)
Notes
on
Gross
Ex-
Income,
$6,428
Year ending— Gross.
Dec. 31 1917-S587.056
Dec. 31
1916June 30 1916-
Net
Note
Pref.Div.
Balance
Income.
Interest.
(5*4%).
Deficit.
$2,886
$16,530
$9,688
$23,333
6,476
38,753
32,277
def4,763
38,753
43,516
of Subsidiary Companies.
Int.&Taxes. Pf.Div
Com Div. Surplus
$125,892
$9,450
None
def.$2l8
116,028
16,200
14,396
2,498
116,508
16,200
3,747
12,221
$3,543
13,963
11,979
Net.
$135,124
149,122
148,676
548.359
529,484
OFFICERS.—Sec. & Treas., D. P. Abercromble Jr.; Greenfield, Mass.—
V. 97, p. 365, 951; V. 100. p. 1168. 1671; V. 104,
p. 1702 V. 106, p. 2011.
(1)
Rys.
Connecticut Valley Street Ry.—Trolley.
4.996 shares of the common stock.
The
Mass.
Oonsol
owns
ORGANIZATION.—Incorporated In 1899.
Commenced Jan. 22 1900.
Is a consolidation on April 1 1905 of the
Northampton & Amherst Street
Ry., the Greenfield & Turner's Falls Street Ry. and the Greenfield Deerfield
&
p.
1849, 1973.
The
Interest.
1902
Outstanding.
Maturity.
$235,000 See earnings
c&rntf\lnt.
—-
230,000 July
1922
Boston, Trustee.
5 g J-J
at Amer.
Trust Co.,
85,000
—
Year ending—
1916
1916
Gross.
Net.
$24,434
$81,683
77.354
Int.&Tazes. Dividends.
$15,562
1915
76.517
Earnings.-—Cal. year 1917,
gross,
(4) Millers River Street Ry.
Rights of way have been partly secured
Millers Falls and Orange.
$9,400
16.399
17.315
25.090
26,759
9.400
*
Surplus.
def.$528
8.691
44
$78,596; net, after taxes, $4,769.
on
this company's proposed line
See text.
penses.
20.439
7,216
Combined Earnings
Date.
gold—J
payable Dec. 31 1917
Dec. 31
June 30
June 30
Latest
Last Div.
See text,
704.600
V. 110.
Ry.—A trolley road.
ROAD.—Owns 19 miles of track between Concord, Maynard, Acton.
Hudson.
At Concord connects with Lexington & Boston, and
at Hudson with Worcester Consol. and Boston & Worcester.
the proposed line
STOCK.—Additional pref. shares only to be Issued when net earnings foi
mos. ending not more than 180 days
prior to date of issue shall have bee#
1*4 times amount necessary to pay div. on shares out and applied fer.
Divs. on pref. are 5% to Nov. 1 1914. incl.; 5*4 % to Nov. 1 1917., incl..
and 6% thereafter.
In case of liquidation pref. Is entitled to $110 per share
up to Nov. 1 1914. $115 to Nov. 1 1917 and $120 thereafter. V.93.p. 1599
Dividends.—On pref., 1912 to 1914, 5% per annum.
In 1915 and 1916,
6*4%. Feb. 1917 div. passed. On com, a div. of *4% was oaid oct. 15 1913.
ending—
1482;
Stow and
Controls through
Outstanding.
$1,619,900
$250,000
between
greensboro, n. c.
12
EARNINGS.
p.
Street
—
Concord Maynard & Hudson St.
Ry.(Millers River Street Ry. (proposed).
Connecticut Valley Street Ry.
(Northern Massachusetts Street Ry.
The system comprises 114 miles of road, serving 20 cities and towns in
Central and Northern Massachusetts.
Both passenger and express service
Year
Hudson
&
Rys. owns 2,319 shares of the stock.
ORGANIZATION.—Organized in Massachusetts Mar. 27 1901.
Ac¬
quired Concord & Clinton St. Ry. Feb. 1 1902.
On Aug. 25 1911 acquired
Lowell Acton & Maynard St. Ry.
V. 93, p. 1786.
Franchises perpetual.
1st mortgage
seven trustees.
V. 93, p. 1462, 1599. 1787.
ownership the following companies:
Maturity.
$350,000
150,000
STOCK AND BONDS—
Stock $235,000 ($100)
board of
1849.
p.
Outstanding.
Dec. 31 1916
ORGANIZATION.—Organized In Boston on Nov. 16 1911 as the Massa¬
chusetts Northern Rye.
In May 1913 name was changed to the Massa¬
chusetts Consolidated Railways.
Is a voluntary association managed by
Dec. 31 1917
Dec. 31 1916
June 30 1916
V. 110,
—
greenfield, mass.
$1,640,300 ($100)
I
Pref $1,100,000 ($100) cum (see text) Q-F—
6%.
Interest.
Date.
$350.000.
Bonds.—Of
the
$500,000
1st & ref. bonds. $185,000 are reserved to
retire an equivalent amount of underlying bonds.
No sinking fund.
Dividends.—The Aug. 1917 div. of 1*4 % on the pref. stock was deferred.
None since.
,
OFFICERS.—Pres., Clement O. Smith. Milwaukee; V.-Ps., C. R. Phenicie, Green Bay, and J. P. Pulliam, Milwaukee; Sec., Howard Greene,
Milwaukee; Treas., H. C. Mackay; Gen. Mgr., J. P. Pulliam, Milwaukee.
—V. 94, p. 1697.
Shares—
on that date had not been paid
definite agreement as to extension had been
InT4-'15.2*4
Q-F
See text
/ 1913
5 g M-N
315,000
May 1 1943
red'l on 4*i% int bas _c*tfllnt. at American Trust Co., Boston, Trustee.
Gard Westm & Fitchburg 1st} 1900
5 F-A
185.000 Feb 1 1920
mtge ($1,000) gold__c*ntf 1 Int. at Old Colony Tr. Co., Boston. Trustee.
Notes payable Dec. 31 1917—
300,000
Gas meters, 4,412; electric meters, 5,059.
Common
no
now accrues at
Pref 6% cum $150,000
1st & ref M $500,000 ($1,000
EARNINGS.—Of combined properties for 12 mos. ending Dec. 31:
Gross.
Neliafter tax.)
Interest. Bal., Surplus.
—$938,*255
$309,656
$218,420
$91,236
1918
722.412
206,050
161,967
44,083
ROAD, &c.—Owns and operates all lines in the city of Green Bay; also
a line from Green Bay to East De
Pere, and branch to Duck Creek and a
line from Green Bay to West De Pere, Little
Rapids, Wrightstown and
Kaukauna; to£al, 43-11 miles of track.
70 and 85-lb. "T" and girder rail;
stock
but the prin. also due
8TOCKS AND BONDS—
Common
Year-—
a
V. 110, p. 1973.
1 1920 on the $185,000 Gard. Westmin & Fitchburg
up to April 12 1920 and
made.
Int. on this issue
1919
CONSOLIDATED
Effective "^Jay 3 1920 the co. was
due Feb.
1st M. 5s was paid,
been paid and canceled.
$228,000 are pledged as additional security under
the Wise. P. S. Co. 1st M. & ref. bonds.
MASSACHUSETTS
1482.
p.
rate of fare to 10 cents, good for 2 zones, with 5 cents for each additional
zone.
Number of zones was reduced from 42 to 25 but length of each
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common, $1,000,000 ($100)
$1,000,000
Pref, $600,000 6% cum ($100)
600.000
l«t mtge. & ref. $15,000,0001 1912
5 g J-J
2.438.000 Jan./1 1942
gold ($1,000)
c*tfjlnt. at Wisconsin Tr. Co., Milwaukee, trua.
Green Bay G & E 1st & ref M\ 1905
5 g M-N
427,000 May 1 1935
$750,000, g ($1.000)
c^/Int. at Wisconsin Tr. Co., Milwaukee, true.
Bonds.—Wise. Pub. Serv. bonds are subj. to cfcll on any Int. day at 105
and int.
Remaining bonds are for acquisitions and to retire underlying
bonds under certain restrictions.
See V. 94, p. 1697.
Sinking fund of 2%
on
bonds outstanding began in 1917.
The Green Bay Gas & Electric
bonds are subject to call at >105 until 1924; thereafter at
par; $75,000 have
cars.
V. 107,
authorized by the Mass. Dept. of Public Utilities to increase the minimum
Kewaunee, Algoma, Sturgeon Bay and several small communities, in all
about 76 miles.
Operates city street railway in Green Bay, interurban
lines to Kaukauna, DePere and Duck Creek, in all 43.11 miles of track.
Owns gas plant in Green Bay and furnishes coal gas and water
gas to Green
Bay, DePere and neighboring territory.
22 motor
by about 25%.
[Vol. 111.
Northampton Street Ry..
as per plan in V. 80, p. 1111.
In May 1915 the Governor of Mass. signed a bill
authorizing the Northerr
St.
Ry. to absorb the company
by consolidation or purchase
Mass.
V. 106. p. 1833.
Authority to Operate Motor Vehicles Granted.—On June 19 1919 was auth
by the Mass. P. S. Comm. to acquire and operate passenger motor vehicles
Greenfield and Montague. V. 108, p. 2528.
Rates.—In Sept. 1918 filed with the Mass, P. S. Comm. a
tariff, effective
Nov. 4 1918, under which the system was divided
into 47 zones, each
NORTH
CAROLINA
PUBLIC
SERVICE CO.
ORGANIZATION.—Chartered
in North Carolina in 1909.
the Greensboro Elec. Co. and Greensboro Gas Co., the electric
of the High Point Elec. Power Co. and the street
Purchased
light plant
railway system in High
Point.
In 1913 built gas plant and distributing system in High Point.
In 1911 acquired majority of the stock Of Salisbury & Spencer Ry. Co..
which cornpauy it also leases for 50 years.
V. 93. p. 1324.
Does entire gas.
electric-light aud power and street railway business of Greensboro (and its
suburbs of Proximity, Revolution, White Oak and Pomona), Salisbury.
Spencer, East Spencer and High Point and street railway business of
Concord.
In 1910 franchises had the following number of years to run:
Greensboro, 28 years; High Point, 59 years; Salisbury, Spencer, East Spen¬
cer and Concord, 60 years;
also has a 30-year franchise in Guilford County
and township.
Changes in Stock.—Shareholders on May 15 1917 voted to reduce the
$3,322,900 common stock to $1,500,000 by the exchange, pro rata, of
$500,000 pref. stock authorized for the purpose, said pref. stock to bear
div. the first year, 5% the second year and 6% thereafter.
Holders
of each 100 shares of existing stock received in exchange 15 shares (plus frac¬
tion) of new pref. and 45 shares (plus fraction) of common stock.
As of
Mar. 1 1919 about 95% of the stock had been exchanged.
This action will
result In considerable saving In State and Federal taxes.
Rale Increases.—Has been authorized by the Commissioners in the City of
Greensboro to abolish all reduced-rate tickets and establish a straight 5-cent
fare.
The N. C. Corp. Comm. auth. the co. to increase fares to 7 cents
with 4 tickets for 25 cents, effective Dec. 1918, and to increase its charge
for gas in Greensboro 25c. per 1,000 cu. ft. V. 108, p. 269.
4%
STOCK AND
Common
BONDS—
Date.
Interest.
Outstanding.
See text
$1,500,000 ($100)—
Maturity.
between
Preferred $1,000,000 ($100)-Greensb EI Co 1st M goldl
approximating 1 mile long, the
Greensb El
a
M ($500 & $1,000)
trustee.
First&ref.m .$3,500,000(100.) 1909
5 A-O
2,126,900 Apr 11934
$500 and $1,000). c*&r* tf(lnt. at Equitable Trust Co., N. Ytrustee.
Salisb & Spen Ry 1st M gold/ 1905
5 g M-N
831.000 May 1 1945
$1,000,000
($1,000)—c*tf(Int. at Mich. Trust Co., Grand Rapids,
[
trustee, or Equitable Trust Co., N. Y.
Bonds.—Of the 1st & ref. mtge., $201,000 are reserved to retire like
amount of mortgage bond3 of Greensboro Elec. Co. and $1,172,100 are re
served for future impts. and acquisitions under proper limitations
V.,88.
p. 1128; V. 104. p. 2343; $17,500 canceled
for account of sinking fund,
$193,000 held in treasury and $17,500 in sk. fd.
Subj. to call on any
int. date at 105 and int
Sinking fund of 1% per annum of gross Income.
July 1915 to 1919: 1 *4% July 1920-1924, and 2% 1925 to maturity.
The
remaining $108,000 Salisbury & Spencer Ry. bonds are reserved for future
extensions and impts.
$61,000 are held in treasury.
Are guar., p. & L.
by the North Carolina Public Service Co.
Redeemable at 105 and int.
rate of fare to be 3 cents in each zone, with
6-cent minimum charge.
V. 107, p. 1099.
In Oct. 1918 filed with the
Mass. P. 8. Comm. a.local and joint class freight rate and minimum tariff
increasing rates by about 25%.
Effective July 13 1920 was auth. by the
Mass. Dept. of P. U. to increase fares from
6 to 10 cents, tickets to be
sold at 7*4 cents each.
V. Ill, p. 492.
STOCK AND
BONDS—
Date.
Interest.
Outstanding.
Maturi y
Stock, com, $500,000 ($100)
$500,000 Dec '16. 1%
Pref,$120,000(6% cum) ($100)
M-S
120,000
See text,
Connecticut Valley St
Ry 1st/ 1900
5 g M-S
120.000 Sept. 1 1920
inort gold ($1.000)~c*..ntf 1 Int. at Old
Colony Trust Co.. Boston, Trust
I N<ir,t££,EJc AlP.h l8t
1900
6 g M-S
180.000 Sept. 1 1920
$180,000 g
($l,000)..c..ntf)Int. at Old Colony Trust Co.. Boston. Trust
Greenfield Deerfield & Northf 1903
5 g J-J
150,000 July 11923
first mort, $150,000, gold (Int. at Mercantile Trust
Co., Boston. Trust
$1,000 and $500)..c*..ntf (No sinking fund and bonds cannot be called
-
Green&TurnFallsconsm$130/1903
o g J-D
130,000 June I 1923
000 g ($500, $1,000) c*.ntf 1 Interest at Beacon Trust
Co., Boston. Trus
Notes payable Dec. 31 1917
300,000
Bonds.—The Northampton & Amherst bonds are
subject to call at 105
on 4 weeks
notice, as are the bonds of the Connecticut Valley Street
Ry.
The $120,000 Connecticut Valley bondB
were Issued under the first mtge. of
the Northamp. & Arab. St. Ry.. which was
originally drawn for $300,000
-
.n?Mdei}$stT0n. Pref- 3% semi-ann.
since Sept. 1910 to and Incl. March
On com., in 1906 (year end. Sept. 30). 2%; In
1018 (paid May 1
1918).
1907, 2%; in 1912.
l%jin 1913, 2*4%; in 1914.3%.
MayvM%; Aug., M%.
In_Dec._J916.. 1 %.
EARNINGS.—For calendar year
,
„
Year—
1916---
1915-16
1914-15-.
Gross.
Net.
3240.320
235.619
242.633
-m.Latist Earns-—For calROAI>Owns"ami
Turmer
cars.
In 1915. Feb..
and"V^rs^endhQg"June'30!""
Int. &Taxes. Pref.Div. Com.Div. Surplus
$64,171
62,820
77,515
year 1917.
operates
1916
$16,233
47,972
51,733
$7,200
7.200
7,200
$4,996
«5,742
3,747
3,901
14,988
3.594
gross, $252.569; net, aft: taxes. $49.391.
4/7)54
miles
41
Northern Massachusetts Street Ry.
ali the common stock ($350,000).
Orange Street Ry.
Mass.
-The Massachusetts Consol
on
Name changed to above
July
on
1 1894 as
May 1 1913.
purcbased the property and franchises of the Templeton
Mar.
the
Athol
In Jan.
&
19L-
Street Ry. and
or
1913 absorbed the Gardner Westminster A
Fitchburg Street Ry.
As a result of these acquisitions, stock was Increased from
$74,500. all o'.
one class, to $500,000, of which $150,000 is
6% cum. pref. stock.
The Governor of Mass. in
May 1915 signed a bill
]
authorizing the
corn
pany to absorb the Connecticut Valley St. Ry. by consolidation or
pur
chase. V.
10^
p.
1833.
Rates.—In May 1918 was auth. by the Mass. P. S. Comm. to
eliminate
the 5-cent fare limit and to adopt zones of about 1 mile in
length with a fare
of 5 cents for the first 3 zones or fraction thereof and 2 cents
for each addi¬
tional zone.
V. 106. p. 2011.
In Oct. 1918 filed with the Mass. P. 8
Comm. a local and joint class freight rate and minimum
$1.000)
Co
tariff, increasing
See
text
1902
5 g A-O
$170,500
ctf/Int. at Equit. Tr. Co.. N. Y..
1905
5 g A-O
30,500
ctf/Int. at Bankers' Tr. Co., N. Y..
ref & impt(
April 1 1932
trustee.
June
1930
,
6
on
months'
notice.
EARNINGS.—For years ending Dec. 31:
Calendar Year—
Gross.
Net after Taxes.
1919
$856,756
$291,363
1918
705,373
273,869
Interest.
$158,239
157,310
—
Bal., Surp.
$133,125
116,559
ROAD.—Owns 27.41 miles of track.
bO and 70-lb. T and 90-!b. girder
Standard gauge.
39 cars, 15 new "Safety One Man" cars were
Installed
in
1917.
Connecting extensions between the various cities
rails.
are proposed.
Electric plants capacity 2.800 horse power (also purchases
power from Southern Power Co.); 166 miles transmission lines. Gas plants
capacity 820,000 cu. ft. per day. 68 miles of mains; electric light customers.
5,232; power, 340; gas, 3,847; total, 9,421.
OFFICERS.—Pres., C. B. Hole; V.-P., Wescott Roberson; Sec. & Treas
Gen. Mgr., R. J. Hole.—V. 108, p. 269, 2635; 111, p. 1370.
.
L. H. Hole, Jr.;
gulfport,
passengei
owns
ORGANIZATION.—Incorp. In
&
oAraclt between"Mlller'sFalh-
Falls, Greenfield. Northampton and Amherst.
2 snow-plows. 5 other cars and 134 electric motors.
s
OFFICERS.—Pres., O. W. Hazelton; V.-p. \ Gen. Mm*., DP. Abercrombie Jr.; Treas. H. A. Crane;
Supt., J.A Taggart.—V. 100, p. 1167;
V. 106, p. 2010; V. 107, p. 1099; V.
108, p. 2528;V. Ill, p. 492
(2)
Rys.
($500
See text
miss.
QULFPORT & MISSISSIPPI COAST TRACTION CO,
ORGANIZATION.— Incorporated in
Mississippi in 1905.
Purchased
Biloxi Electric Ry. & Power Co. and the Gulfport
Development Co.
1907 increased auth. stock from $1,000,000 to $2,000,000Fare Increases.—In Aug. 1920 the municipal authorities of
Biloxi, Gulf-
the
In
port and Pass Christian, Miss. auth. the co. to increase fares in these cities
from 6 cents to 7 cents per zone.
V. Ill, p. 58S.
STOCK AND BONDS—
Stock $2,000,000 ($100)—
1st
mort
$1,000,000
gold/
($1,000)
gold ($1.000)
2d M
Date.
1905
Interest.
Outstanding.
$1,000,000
Maturity.
6
g A-u
i .000,000 Sept 30 1935
tf I int. at Hibemia Bk.dc Tr. Co.,N. Orl., Trus
ctff 1907
6 g J-J
692,000 July 1 1932
I hibernia Bank & Trust Co., Trustee.
OIL El. Ry, & P. 1st
mtge.,g. f 1903
6 g J-J
149.400 Jau
1 1924
($100. *500 & S1,000)... tf lint, at Hibernia Bk.& Tr Co.. New Orleans
Interest coupon debentures., f
6 A-O
130,200 April 1 1927
lint, at First Nat. Bank, Gulfport.
Bonds.—The bonds of 1905 are subject to call on Oct. 1 in
any year at
105; no sinking fund.
Interest on 2d mort. is payable at First Nat.
~
Gulfport.
Bonds have no s. f.
Electric Railway <fc Power bonds
Bank,
are not subject to call.
The Biloxi
subject to call at 106 and Interest.
and
are
OCT..
1920.J
ELECTRIC RAILWAYS
EARNINGS.—For year ending June 30 1918, gross, i$283,361; net,
$59,493; taxes, $15,207: int., $98,913; deficit, $54,649.
In 1917, gross,
$269,736; net, $104,267.
ROAD.—Operates 13 miles of track from Guifport to Blloxl and 11 miles
from Guifport to Pass^Christian; also 6 miles of track in Biloxi; total, 30 m.
OFFICERS.—Pres., W. T. Stewart; V.-P.. Jos. Van Clooster; Sec., J. O
8impson; Treas., P. A. Stilwell; Gen. Mgr., w. F. Gorenflo, all of Guifport.
—V. 83, p. 95; V. 105. p. 290; V. Ill, p. 588.
hagerstown, md,
THE HAGERSTOWN
&
FREDERICK RY. CO.
ORGANIZATIONS—Incorp. Apr. 7 1913 In Maryland
as
a
consolida¬
tion of the Frederick RR., Frederick Gas & El. Co., Myersville & Catoctin Ry., Hagerstown Ry., Hagerstown & Boonsboro RR.. Hagerstown A
Myersville RR., Hagerstown A Northern RR. and Frederick & Hagerstown
Power Co. V. 96, p. 947,1422.
In 1914 purchased properties of the Frost-
burg Ilium. A Mfg. Co.
In 1916 acquired control of the Potomac Lt. &
Co., Martinsburg, W. Va.
(V. 104. p. 163.)
Franchises are per¬
petual or extend at least 15 years beyond life of bonds.
On Nov. 30 1917 acquired control of the Chambersburg Greencastle A
Waynesboro Street Ry. Co., which see below, and issued $300,000 collateral
trust 5% gold notes in connection therewith.
V. 105, p. 2365.
On May 19 1919 the stock of the Northern Virginia Power Co. waspurchased by interests operating the Hagerstown A Frederick Ry. Co., E. L.
Coblentz, Pres. of the H. A F. Ry., was made President of the Power Co.
The organization of the H. & F. Ry. Co. operates the property of the North¬
ern Virginia Power Co.
Transmission lines of the co. are connected with
thoste of the Northern Virginia Power Co. at Martinsburg.
Compare
V. 108, p. 2022.
1
On May 7 1917 the shareholders unanimously approved the plan pre¬
sented by the voting trustees providing (a) for the retirement of the then
existing $1,225,000 5% convertible adjustment bonds, $635,000 7% cum
pref. stock and $2,000,000 com. stock; (6) issuance in lieu thereof of $600,000
10-year 6% notes, $842,500 6% cum. pref. and $1,512,950 new com. stock.
The voting trust, Frank A. Furst, Henry Holzapel and William H. McCardell, trustees, was dissolved.
This plan was consummated on May 9 1917.
In Nov. 1919 the co. issued $550,000 1-yr. 6% coll. trust notes, proceeds
being used for corporate purposes and to reimburse the co. for expenditures
made and to be made.
V. 109, p. 1700, 2439; V. 110, p. 261.
Fares.-"-In July 1918 increased zone fares from 5 to 7 cents.
Effective
Sept. 27 1920 interurban fares were raised to 8 cents per zone, city fares
remaining unchanged.
V. Ill, p. 990.
Pow.
STOCK AND BONDS—
Date.
Common $2,000,000 ($50).
Preferred 6% cumulative($50)
Interest.
Maturity.
Outstanding.
$1,512,950.
883,800
dst&refMSlO,000,000 ($100,1 1914
6 g A-O
1,359,000 Apr 1 1944
$500 & $1,000) g s f.c.cptlFidelity Tr.Co.,Balt.,Tr.
Int.pay.in Bait.
Hager A Myers Ky $125,000— 1904
5%
120,000 July 11924
Hagers & Boonsb Ry 1st MI 1902
5 F-A
110,000 Feb 1 1922
$120,000 ($500 & $l,000)c*flnt. at Maryland 8. A Tr. Co., Hagerstown.
1908
5 g F-A
Hagers & Nor RR 1st mtge
200,000 Mar 1 1927
$200,000 gold ($1,000. $500( Int. at Maryland S. & Tr. Co., Hagerstown.
and $100)
Trustee. W m. Jennings.
c*
Fred & Middletown 1st mtge
1905
5 g J-J
126,000 Dec
11935
$250,000 gold ($1,000).-_c Fidelity Trust Co., Baltimore, Trustee.
Fred Gas & Elec 1st M $200.1904
5 J-J
179,000 July 1 1929
000 g ($500&$1,000) g.pAl Interest at West End Trust Co., Philadel¬
by Fred RR; not sub to call
phia, Trustee.
1908
Monocacy
Valley Ry first
5%
30.000
1925
Steiner Schley A Leonard Waesche of Fred¬
mortgage
erick, Md.. Trustees.
1899
5 J-J
50.000 July 1 1929
Frostburg 111 A Mfg 1st M
30-year bonds—
...lint, at First Nat. Bank, Frostburg. Md.
Collateral gold notes $300.000c 1917
5 M-S
280,000
Sept 1 1932
Coll tr notes $550,000 ($1,4 1919
6 g M-N 1
550,000 Nov 1 1920
000) gold
■——
ctf(Mortgage Guarantee Co., Bait., Md., Tr.
Notes
1917
6%
600,000
1927
—
—
—-
-
...
—
—————
—
Stock.—The pref. stock Is redeemable at par and dividends.
Bonds.—Of the new $10,000,000 mtge,. $815,000 are reserved to retire
prior liens, $420,000 are pledged under the coll. tr. 6% notes of 1919 and
remainder
for
additions, impts., Ac., under certain restrictions (V. 98,
1694; V. 104, p. 163).
Reserved bonds when issued to bear int. at rate
rates not exceeding 6% or less than 4%.
Sinking fund from Oct. 1 1919,
payable semi-ann.; till Oct. 1 1926, 1% of 1st A Ref. 6s and prior liens;
1927-1934, 2%; 1935-1944, 3%.
Red. at 105 and Int. on any int. date.
Tax refund in Pa.
The Hagerstown A Boonesboro Ry. bds. are red. at
p.
or
onds
red. at 105 RR. bds. are subj. to call aft. 1917.
gar. Hagers. A Nor. on any int. date. Fred. Gas A El. bonds are Midd.
Fred. A guar.,
are
A L, by Frederick RR.
Notes.—'The coll. trust notes of 1917 are secured by pledge of stock of the
Chambersburg Greencastle A Waynesboro St. Ry. Co. which said notes
were issued to purchase.
The coll. trust notes of 1919 are secured by $420,000 of the co.'s 1st A ref. 6s.; $120,000'6% pref. stock and $80,000 1-year
note of the Potomac Lt. A Pow. Co. due Nov. 1 1920 and the co.'s equity In
p.
the pref.
and com. stocks of the C. G. A W. Ry. Co.
EARNINGS.—For years ending
Year—
1
Gross
1919
—
—
1918—
'
Net.
———
Deductions.
$384,243
247,244
246,688
.$946,352
718,632
604,711
—
1917-
V. 109, p. 1700.
Dec. 31:
$288,324
208,943
184,766
Surolus
$95,919
38,301
61,922
ROAD.—Operates street railways in cities of Hagerstown and Frederick
Md.. and an interurban railway extending from Frederick to Hagerstown,
with extensions from Frederick to Thurmont. Md.. also-from Hagerstown to
Shady Grove, Pa., and with branch lines to Boonsboro and to Jefferson. Md.
Mileage operated aggregates 87.5 miles.
The controlled Chambersburg
Greencastle A Waynesboro Street Ry. operates 31 miles of track from Blue
Ridge Summit to Chambersburg.
The extension from Chambersburg to
Red Bridge Park was leased to the Chambersburg A Shippenburg Ry. of
Chambersburg, Pa.
OFFICERS.—Pres., Emory L. Coblentz, Frederick, Md.; V.-Ps., Henry
Holzapfer, Hagerstown, and F. Howard Warfield, Baltimore; Sec., M. P.
Moller, Hagerstown; Treas., Thomas H. Haller, Frederick; Gen. Mgr.,
M. A. Pooler.—V. 104, p. 2010;
V. 105, p. 389, 909. 2365; V. 106, p.
2757; V. 108, p. 2022; V. 109, p. 1610, 1700, 2439; V. Ill, p. 895, 990.
Chambersburg
(a)
Greencastle
&
Waynesboro
Street
Ry —On
Frederick Ry. acquired control.
ORGANIZATION.—Incorporated in Pennsylvania on June 17
owns an electric-light plant: capital, $50,000.
Nov.
30
1917 the
Hagerstown
Date.
STOCK AND BONDS—
$300.000--—--—.
Common
Preferred $300,000 non-cum—
First mortgage $300,000 gold
($100 and $500).
Second
mprtgage
c*tf
$300, (XK)
A
—
Interest.
$300,000
300,000
——
1901
Maturity
Outstanding.
Bonds.—First mtge. bonds nave no sink. fd. and are not subj. to call.
2d mtge. bonds are subj. to call on any Int. period at 105.
No sink. fund.
Remaining 1st ref. bonds are reserved to take up underlying bonds and for
extensions and improvements.
EARNINGS.—Years ending Dec. 31:
Gross.
Net.
.——$267,241
$86,301
222,665
78,734
Year—>
——
ROAD.—See Hagerstown
Other Inc.
$4,623
3,650
DeducCns.
$71,846
60,969
Surplus.
$19,078
21,415
A Frederick Ry. above.
Emery L. Coblentz; V.-P., W. L. Mlnick; Sec.,
Benedict; Treas., J. P. Shank; Asst. Treas. & Div, Mgr., R. D.
OFFICERS.—Pres..
D. N.
Sefton; Gen. Mgr., M. A. Pooler; Gen.
236; V. 92. p. 186; V. 105/p. 388.
Aud., It. E. Town.
ORGANIZATION.—This company was organized in 1914 as the consoli¬
dation of the Newp. News A Old Ft. Ry. A Elec. Co., Citizens* Ry. Light
A Power Co., Hampton Roads Traction Co., Newport News Gas Co. and
the Hampton Phoebus A Fort Monroe Gas Corporation and
V.
90,
p.
,
practically none expires before 1944.
Gas franchises In Newport News are
perpetual, subject to right of purchase of property by city (for 6 months In
1927); In Hampton, gas franchise expires In 1936.
Interurban lines largely
on private right of way.
The Hampton A Langley Field Ry. was Incorp. In Virginia in Feb. 1917
with $25,000 capital (increased in'Oct. 1917 to $100,000)
to build a line
3.1 miles long between the points named.
The line will be built and opera¬
ted under traffic agreement by the Newport News A Hampton Ry., Gas A
,
Electric Co.
Rate Increases.—In May 1920 the Va. Utilities Comm. auth. the co. to
increase fares from 5 cents to 7 cents and from 2 H cents to 3 cents for workiugmen.
Gas rates were increased from $1 to $1 10.
V. 110, p. 2292.
In Sept. 1920 it was reported that the Co. had sold $241,325 stock, pro¬
ceeds being used for repairs and impts.
V. Ill, p. 1084.
STOCK AND BONDS—
Date
Interest.
Outstanding.
Maturity.
Common $2 000,000—
—$1,275,000 May'20, 5%
Preferred $2,000,000 7% cum- —
7 J-J
1,179,100 .See text.
IstArefM $7,500,000 g($1001 1914
5gJ-J
3,738,500 Jan 1 1944
$500 A $1,000)—Maryland Trust Co. of Baltimore, Trustee.
Three-year convertible notes.. 1919
7%
645,000 "
1922
Newport News dt Old Ft. Ru. <fe El.—
first mortgage $900,000
gold/ 1898
5 g M-N
900,000 Nov 1 1938
($1,000 each).-..c* tf \Interest at Alex. Brown A Sons, Bait.. Md.
General mtge $4,000,000 gold J _1901
5 g M-S
44,000 Mar 1 1941
($1,000 each)
c* Int. at Alex. Brown A Sons, Baltimore, Md.,
or at company s Agency In New York.
First mtge Citizens* Ry LAP
1900
5 g M-N
66.000 May 1 1940
$800,000 ($1,000) gold—c*
Maryland Trust Co., Baltimore, Trustee.
Guaranteed prin A int..— Interest at Alex. Brown A Sons. Baltimore.
1905
Hampton Roaos Trac 1st M
4*4 J-J
66,000 Jan t 1930
Bonds.—Of the first and ref. bonds, $1,077,000 are reserved for prior liens
as above, $1,500 are in
treasury, $1,000,000 are pledged under the 3-year
convertible notes, and the remainder are for improvements and extensions.
Bonds subject to call at 105 and int. on any int, day upon one month's
notice.
Int. payable at Alexander Brown A Sons, Baltimore, or company's
agency In N. Y.
The Maryland Tr. Co., Bait., is trustee or both the first
and genera! mortgages of the Newport News A Old Point Railway A
Electric.
The Newport News A Ola Point bonds of 1898 are subject to
cad at 110 on any Interest day at 60 days notice.
The Citizens' Railway
Light A Power Co. bonds are subject to call at 110 on any Interest dayfon
60 days' notice.
Remaining Newport News A Old Point Ry. A El. gen.
M. 5s. Citizens' Ry. L. A P. 1st M. 5s and Hampton Roads Trac. 1st M.
4*4s are deposited under the Newport News A Hampton Ry., Gas A Elec.
—
—
_
19
IsL A ref. M.
Notes.—The 3-yr. conv. notes are secured by $1,000,000 1st A ref. 5s.
Dividends.—Diva, have been paid regularly on pref. stock.
A div. o <
3% on the common stock was paid July I 1916; in 1917, May, 5%; in 1918,
May. 5%; in 1919, May, 5%; in 1920, 5%.
'
EARNINGS.—For year
Gross
ending Dec. 31:
Net (after
Other
Interest,
Balance.
Income.
Rents, Ac.
Surplus.
$13,903
$305,644
$440,856
8,399
255,306
364,127
PROPERTY.—Owns and operates 48.59 miles of tramc.
Power plant
with 15,000 k. w. capacity; 2 gas plants; electric-lighting system.
OFFICERS.—Pres.. J. N. Shannahan; Vice-Pres. A Gen. Mgr.. E. F.
Peck; Treas., Wm. Stewart; Sec., Richard M. Booker, all of Hampton.
Peck-Shanahan-Cherry, Inc., operate the road.—V. 106. p. 602, 1231, 2117;
V. 107, p. 1101, 1837; V. 108, p. 1512; V. 110, p. 2192, 2488; V. Ill,
p. 687, 1084.
Calendar
Earnings.
1919——$2,718,837
1918
2,168,486
Taxes).
Year—
$732,598
611,034
_
hanover, pa.
HANOVER A McSHERRYSTOWN STREET RAILWAY CO.
by the Keystone Utilities Co., which
see under Scraaton, Pa.
Operated by United Service Co.
ORGANIZATION.—Iucorp. in Penna. in 1892.
Its charter runs for
w«» years.
Owns all the (9100,000) stock of the Hanover Light Heat A
In Nov. 1916 control was acauired
Power Co.
Fares.—In September 1918 increased fares to 6 cents.
STOCK AND BONDS— ; Date.
Interest.
Outstanding.
Stock $200,000 ($50)
— —
First mtg $500,000 g ($1.000) 1
—
subject to call at
——
1908
Maturity.
$135,000
1918, 10%
400.000 June 1 1928
——
5 g J-D
105—c*tf/interest at York Trust Co., York, Pa., Trus.
Bonds.—Of remaining
bonds $100,000
are
reserved for extensions, Ac.
Dividends.—In July 1894 2*4%; In 1895, Jan.. 2H; 1897-1902 records
lost.
1903 and 1904 none.
In 1905, Jan.. 6%,
In 1906 and 1907, none;
Jan. 1908 to Jan. 1913, incl.. 6% per annum.
In July 1913 50% stock
.
paid; Jan. 1914 (reg.), 4%; July, 2%.
In 1915, Jan., 3%.
In Dec.
1917, 9%; in 1918, 10%.
EARNINGS.—For calendar years:
Year—
Gross. Net,aft.Tax. Bond Int.,&c.
Balance.
-.$201,744
$80,464
$26,509
sur.$53,955
1918———
140,869
16,697
20,852
sur. 25,845
div.
-
—
-
ROAD.—Owns 11.9 miles of track In and between Hanover, McSherryscown. Littiestown and Conewago Chapel.
Standard gauge.
65-lb. T and
|
TBriln
' '
OFFICERS.—Pres., F. B.
Athertori; V.-P., E. H. Ramsbothan; Sec.
Treas., J. J, Grace.—V. 100, p.
A
'
1257; V. 103, p. 2340.
harrisburg, pa.
OR§Sn^ZATION.—Incorp[Sln
Penn. on Nov. 29 1912 and merged
the Central Pennsylvania Traction Co. (see "Electric Railway ' Section of
"Sept. 1912) and its subsidiaries.
V. 96. p. 202.
•
■
Fares.—Effective Oct. 1 1918, began charging a 6-cent fare.
In Mar.
1920 the Penna. P. S. Comm. dismissed a complaint against
this rate.
V. 110, p. 970.
_
STOCK AND RONDS—
Date.
Common $3,000,000—
Pref 6% cum $2,100,000—
—
Interest.
...
——
-
See text
5 J-D
•
Outstanding.
$3,000,000
2.100.000
8,169,900
Maturity.
Oct'17, 1%
1963
First A ref. mtge $10,000,0001 1912
($1,000 and $500)——if)Harrisburg Trust Co., Trustee.
Citizens' Passenger first mtgel 1894
6 g M-N
75,000 May 1 1924
$75,000 gold
lint, at Oom'w'th Guar. Tr. Co.. Harrlsburg.
STOCK.—Pref. stock was cum. at 5% until Jan. 1 1915; since, 6%.
Dividends.—ZH% was paid on pref. stock In 1913.
In 1914, 5%.
In
1915, April, 2)4%; Oct., 1 %. In 1916. April. 1*4%. In 1917. April, 1 % %;
Oct.. 1%.
None since.
'
EARNINGS.—For calendar years;
Net, after
Other Fixed Chgs , Balance,
Taxes.
Income.
&c.
Surplus.
$464,093
$24,868
$332,958
$156,003
297,536
22,069
306,883
12,722
ROAD.—Owns 12.47 miles and leases 61.04 miles of line.
Total op¬
erated, 73.51 miles.
OFFICERS.—Pres. A Gen. Mgr., F. B. Musser, Harrisburg; Sec., John
O'Connell.
Office, Harrisburg.—V. 96, p. 209; V. 98, p. 155; V. 101, p.
1013,1272; V. 104, p. 1591; V. 107, p. 1192; Y. 110, p. 970.
Gross
Cal. Year—
Earnings.
..$1,603,339
1918——-— 1,280,535
1919
—
-
valley railways.
ORGANIZATION.—Incorporated in Pennsylvania in July 1912 and In
Sept. 1912. after increasing its stock from $10,000 to $2,500,000 (of which
$500,000 Is 6% cum. pref.), purchased control of the Valley Traction Co..
which In turn controlled the Harrisburg A Mechanicsburg Elec. Ry., White
Hill A Mechanicsburg Pass. Ry., Carlisle A Mechanicsburg St. Ry., West
Fairview A Marysville Elec. St* Rys., Harrisburg A Rlverton St, Ry.,
Falrvtew A Rlverton Ry. and the United Electric Co. ■
.
Fares.—On Sept. 111919 the Penna. P. S. Comm. handed down a decision
sustaining the 7-cent fare charged by the co.
V. 109, p. 1181.
Valuation.—See V. 109, p. 1181.
• ■
•
*
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common $2,000,000 ($100)
—*2.000.000 —;
Pref cum $500,000 ($100)
6%
-—"5-7X53
Collateral trust $1,700.000..tf 1912
5%
L000.000 Aug 3 1952
Valley Trac 1st M $700.0001 1903
5 g A-O
gold ($100 A $500) —c^ntf/Int. at Farmers' Tr. Co., Carlisle, Pa., Trus,
_
hampton, va.
NEWPORT NEWS & HAMPTON RAILWAY, GAS & ELECTRIC
CO.—{See Ma-p, page 56.)
Allen A Peck, Inc., of Syracuse, acquired control of the common stock
in June 1916 at $30 per share.
About 10.500 shares of the common stock
have been placed in a voting trust for 5 years (to 1921).
Voting trustees
are; Moreau Delano, New York; B. Howell Griswold Jr., Baltimore, and
O. Loomis Allen, Syracuse.
provides rail"
and electric light and power facilities for the Virginia Peninsula. In
1919 acquired the property and plant of the Phoebus Coal A Ice Co., and
issued in connection therewith $67,000 7% pref. stock.
V. Ill, p. 687.
Franchises.—For electric light and power, perpetual; for street railways,
way, gas
—
—
1903
5 g J-J
300,000 July 1* 1933
Interest at Chambersburg Trust Co., Trustee
1907
5 g A-O
299,500 Oct I 1937
Int. at Chambersburg Trust Co., Trustee.
($100 and $500) gold—c*tf
1910
5 A-O
193,900 Apr 1 1940
1st ref mtge $1,000,000 ($100
and $500)——..—tf lint, at Chambersburg Trust Co., Trustee..
1919
1918
55
J
.
.
.
.
J^l°,?2,PCiL1 *SJ5?
c*
os
ts
W
o
H
to
l-H
o
to
>
I—t
3
o
r
Oct., 1920]
ELECTRIC
Bonds.—Remaining coll. trust bonds ($700,000) are reserved to retire
prior liens.
Valley Traction bonds are subject to call at 110.
A sinking
fund or $5,000 per annum commenced Oct. 1 1908.
EARNINGS.—For year ending Dec. 31 1919, gross,
$497,486; net, after
taxes, $106,971.
In 1918, gross, $378,843;
net, after taxes, $123,163.
Carltsfe"Operates 44 miles of road from Harris burg
to
to Marysvllle and
OFFICERS .—Pres. & Gen.
Mgr.. O. H. Bishop, Lemoyne. Pa.; Sec. &
Treas.. O. M. Davidson.
General offices, Lemoyne.—V. 109. p. 1181.
NEW
HAVERHILL, MASS.
HAMPSHIRE ELECTRIC
RYS.
voluntary association succeeding the New Hamp¬
Aug. 24 1905.
Owns all the stock of the
following
companies: In New Hampshire, Dov.. Somersworth & Rochester
St. Ry.
1 Rockingham County Light & Power
Co.; Newmarket Electric Co.
(V. 103, p. 499); Granite State
Land Co.; in Maine, Kittery Electric
Light
Co.; hi Mass., Mass. Northeastern St.
Ry. Co.
Also owns all the bonds of
the Dover Somersworth &
Rochester St. Ry. (except
$74,000), of the
Amesury & Hampton St. Ry. (except $47,000) and of the Citizens* Elec.
St. Ry. (except
$230,000).
_^PRSAN?ZATI0N'—A
shire Traction Oo.
on
STOCK—
Common $4,000,000 ($100)
'<
Date.
'
Interest.
Outstanding.
$3,900,200
3,399.500 July *17,1%
—
Pref4%n-c, $4,000,000 ($100)
LastDiv
J-J
DIVIDENDS.—Company
to and inch Jan.
July 1915, 2%
paid 1% each 6 mos. on pref. from July 1908
1910.; July 1910 to Jan. 1912, 114% s.-a.; July 1912 to
In July 1916, 2%.
In 1917, 3%.
None since.
s.-a.
OFFICERS.—Pres.. D. A. Belden. Haverhill; V.-P., M. N. Buckner.
New York; Sec. and Treas., F. J.
Home, New York.—V. 103, p. 493.
(1)
Massachusetts
Northeastern
Street
All the stock of this
company is owned by the
New HampsfilreJSIec. Rys
July 1 1934.
Fares.—On Nov. 1 1916 was authorized
by the P. S. Comm. to increase
single cash fares from 5 to 6 cts. and the price on ticket books
by 20%.
On July 1 1918,
however, was auth. to go back to the 5-cent fare and
adopt a zone system under which fare sections were divided into two zones
minimum cash fare of 5 cts. for each zone or
portion thereof; tickets,
good for certain hours of the day, being sold at the rate of 10 for 75 cts.
On
Dec. 12 1918 was
authorized
by the I.-S. C. Commission to increase
commutation rates over certain lines.
Compare V. 107, p. 602.
In
Sept. 1918 filed with the Mass. P. S. Coram, a new tariff
effective
Oct. 14 1918, increasing fares from 5 cents to
6 cents.
V. 106, p. 1192.
In Nov. 1918 again filed a new
tariff, effective Nov. 14 1918, increasing
fares from 6 to 7 cents.
V. 107, p. 1920.
In April 1919 the company filed
a still higher
tariff, effective May 23 1919, increasing single cash fares to
10 cents.
On May 21 1919 the I.-S. C. Comm.
approved an increase in
local fares.
V. 108, p. 2123.
Effective June 15 1920, the co. was auth.
by
the Mass. Dept. of Public Utilities to
increase fare tickets to 6 for 50 cents
instead of 5 for 30 cents as theretofore.
V. 110, p. 2568.
a
STOCK AND BONDS—
Date.
Interest;
Outstanding.
Maturity.
$1,500,000
665,000
$2,000,000/ 1914
5 g J-J
870.000 July 1 1934
($1,000) gold
._c*1lnt. at Amer. Tr. Co., Boston, Trustee.
Citizens' Elec St Ry 1st
Mj 1900
5 g J-D
230,000 Dec 1 1920.
$230,000 gold
\Beacon Trust Co.. Boston, Trustee.
Bonds.—The 1st A ref. 5s of 1914 are red. at 110 and Int.
on any Int. date
on 43 days' notice.
Of the remainder of these bonds
auth., $230,000 are
reserved for prior liens and $900,000 reserved for
cost of additions and
Impts. under certain restrictions (V. 100, p. 55).
EARNINGS.—For year ending Dec. 31 1919, gross, $971,700;
net, after
taxes, $183,594,
In 1918, gross, $782,204; net, after taxes,
$87,710.
Common stock ($100)
Pref 6% cum ($100)
First and ref M
-
6%
-
ROAD, Ac.—Owns and operates about 126 miles of
single track (80 miles
Mass. and 46 in New
Hampshire), extending east and west from Haver¬
hill, Mass., entering on the east
Newburyport, Merrimac, Salisbury and
Amesbury, Mass., and Plaistow and Newton, N. H., and on the west
Lawrence, Methuen and Dracut, Mass., and Salem, Pelham and
Hudson,
N. H.
Enters Lowell and Nashua under
trackage rights.
Owns and oper¬
ates local lines in
Newburyport and Amesbury.
Connects with the Bay
State St. Ry.. Manchester & Nashua St.
Ry. and the Exeter, Hampton
A Amesbury St. Ry.
Also owns a large amusement park on Oanoble Lake
in Salem, N. H.
80 open and 49 closed cars and 25 work cars and snow
plows.
m
OFFICERS.—Pres., D. A. Belden; V.-P.
(2) Dover Somersworth & Rochester St. Ry,
All the stock and $236,000 bonds owned
by New Hampshire Elec. Rys.
ORGANIZATION.—Chartered under the laws of Now Hampshire.
consolidation of the Union Elec. Ry. and the Rochester St.
Ry.
STOCK AND BONDS—
Stock $375,000 ($100)
First
mtge
Date.
($1,-7
$300,000
1901'
000); bds cannot be called! Int. at
g
Bonds.—AH
the bonds
Elec. Rys. Co.
Interest.
5 g J-J
Amer. Tr.
except $64,000
are
Outstanding.
$375,000
see
Co.,
Is
Maturity.
text
July 1 1921
Boston, Trustee.
owned by New
Hampshire
EARNINGS.—For cal. year 1919, gross, $134,239; net, after
taxes,
$18,818.
In 1918, gross, $112,414; net, after
taxes, $15,107.
In 1917,
gross, $118,379; net, after taxes, $17,972.
/,
ROAD.—Owns and operates about 21 miles of
line.-;:'::"";'
OFFICERS.—Same
as
for
trust bonds of 1905 have
a
sinking fund of $10,000 per annum, which began
In 1910.
Bonds can be called at 110.
Preferred stock can, at option of
company be changed at any time Into the bonds of the company, at par,
said bonds to bear not less than
5%. or
may
EARNINGS.—For cal.
Year—
Gross.
1919
1918
$673,891
570,248
be red. at
Taxes.
$228,818
221,102
In cash.
par
(incl. allied companies):
years
Net.
Int.
$13,554
16,753
Res. &
$188,190
189,218
Depr,
Deficit.
$88,367
$115,440
114,283
99,152
OFFICERS.—Pres., A. Markle; V.-P.; A Gen. Mgr., O. B. Houck;
Sec., N. C. Yost; Asst. Sec., A. Markle Jr.; Treas., Wm. H. Remick.—
V. 83. p. 1292; V. 87, p. 679; V. 98.
p. 1539.
(1)
Lehigh Traction Co.—A trolley road,
ORGANIZATION.—Chartered
Nov.
7
Owns, controls and leasee for 999 years at
Hazieton A Suburban Electric Ry.,
an
1892.
Franchise
perpetual.
annual rental of $1 each the
capital $30,000;
Hazieton A South
Side Electric Ry., capital $75,000: Hazieton A North Side Electric
Ry.,
capital $75,000.
The $140,000 certificates of Indebtedness and $926,200
of Lehigh Traction stock are
deposited as security for the Wilkes-Barre A
Hazieton
RR.
bonds Of
1901.
STOCK AND BONDS—
Stock $1,000,000 ($100)
Date.
Interest.
Outstanding.
Maturity
$1,000,000
500.000 June 1 1923
($100, $500, $1.000)
c»/Markle Bkg. A Tr. Co., Hazieton. Trustee.
Certificates of indebtedness
140,000
Hazle Park bonds, $60,000— 1895
5 g A-O
60,000
1925
Equip trust ctfs. Series A
1915
F-A
30.000
1925
The equipment trust certificates cover 10 steel cars and mature
$3,000
seml-ann.
Penna. Co. for Ins. on Lives A Granting Annuities, Phila., Pa..
First mortgage $500,000
—
gold!
1893
5 g J-D
—
Is trustee.
v
new 90-lb. steel T rails, oak ties, well
Road extends from Hazieton to West Hazieton, to Yorktown
(connecting with Pennsylvania RR. and Lehigh Valley RR.), to McAdoo
(Bouth) and Milnesville, Latimer Mines and Freeland (north).
ballasted.
OFFICERS.—Pres., A. Markle; V.-P., C. B. Houck; Sec. and Treas.
N. C. Yost; Gen. Mgr., C. B. Houck.—V. 99.
p. 984, 1598, 1673.
Wilkes-Barre A Hazieton Ry.—A trolley, steam and third-rail road
(2)
ORGANIZATION;—Chartered Dec. 13 1899 under General Railroad
Act of April 4 1868, State of Pennsylvania.
The Wilkes-Barre A
Law
Hazieton RR.
owns
the entire stock and bonds.
STOCK AND BONDS—
Date.»
Stock $1,500,000 full paid
First
mortgage
$1,500,000T 1901
Massachusetts Northeastern St.
Ry.
Interest.
Outstanding.
$1,500,000
1,500.000
—
5 g M-N
Maturity.
May 1 1951
gold
/Interest at Guaranty Trust Co.. N. Y., Trus..
Equip trust ctfs. Series A
1915
F-A
40.000
1925
The equipment trust certificates cover 10 new steel cars and mature
$4,000 seml-ann.
Penna. Co. for Ins. on Lives A Granting Annuities,
Pa., Is trustee.
ROAD.—Owns 27 miles of road from Hazieton to Wilkes-Barre, and uses
for terminals 1 mile Lehigh Traction Oo. track at Hazieton and
3 miles
Phi la..
Wilkes-Barre Terminal RR. Oo. track at Wilkes-Barre; total,
Entire road placed in operation May 1 1903.
Ralls, 95 lbs.
31
miles.
OFFICERS.—Pres.,Alvan Markle; V.-P.and Gen.Mgr.,O.B.Houck:
Sec. and Treas., N. O. Yost.
(a) Wilkes-Barre Terminal RR.
Entire stock and bonds owned by W. B. A Hazieton RR.
on Oct. 9
1903.
Stock
ORGANIZATION.—Incorporated
authorized
and outstanding, $35,000 (par $50).
Bonds
Date 1905; due Oct. 1 1945.
Int. (5 g. A-O)
authorized, $600,000 (cAr);
payable in New York.
ROAD.—3.80 miles, between W. B. Ter. RR. June, and Wilkes-Barre,
Rails, 95-lb. T; gauge, 4 ft. 8H in. Pres.. O. J. KIrschner; Sec.-Treas..
n. c. Yost,
f:
HELENA, MONT.
THE HELENA LIGHT & RAILWAY CO.—Trolley, electric light and
gas light and fuel.
power,
ORGANIZATION.—Incorporated In Connecticut In Sept. 1905 as sue'
to the Helena Light A Traction Co.
V. 81, p. 1043.
Controls the
Helena Gas Light A Coke Co.; comprises the city's entire street
railway,
and gas and electric-light plants.
Franchises expire April 4 1926.
cessor
Decision .—The Montana
Sup. Court in Feb
1913 held that city could
not enforce
an ordinance which required the
company to light its tracks
within the city limits without expense to the city—see V. 96, p. 1422.
Fares.—Effective July 1 1920, the co. was auth. by the Montana P. S.
Comm. to charge a 7-cent cash fare with 4 tickets for 25 cents
Increased
righting rates were also authorized. V. 110, p. 2657.
'
STOCK AND BONDS—
A Treas., F. E. Webster; V.-P.
A Gen. Mgr., Ralph D. Hood.—V.
108, p. 1511,1721, 2123; V. 110, p. 2568.
a
57
ROAD.—Operates 20 miles of track,
Ry.
ORGANIZATION.—A Mass. corporation.
Owns and operates a loca*
and interurban railway in Northeastern Mass.
and Southeastern N. H*
Maintains a through service between
Haverhill, Lawrence. Lowell, NashuaAmesbury and Newburyport.
Power is purchased from the Rockingham
County Lt. & Pow. Co. under a contract extending beyond
with
RAILWAYS
Date.
Interest.
Outstanding.
Maturity.
$900,000 Feb '18 1%
600.000 Nov'18 \ M
1905
5 g M-S
1,023,000 Sept 1 1925
gold ($1,000)--.
c*/Int. at Columbia Tr. Co., N. Y., Trustee.
Bonds.—The 1st M. bonds are sub], to call at 105 and int.; $206,000 are
reserved for extens. and impts., at 85% of cost, and $56,000 In addition to
amount reported outstanding are in treasury.
A sinking fund of 1H % per
ann.
of bonds out commenced June 1 1908 and was increased to 2}4%
per annum June 1 1918; said fund to be used In retirement of bonds at not
higher than 105 and int.
See V.81. p. 1550.
$202,000 have been retired.
Dividends.—5% per annum in quarterly installments was paid on pref.
stock to and incl. Nov. 1918.
None since.
First div. on com., 1%, paid
Oct. 31 1906.
In 1907, 3%.
In 1909, 3%.
In 1910, 4%.
In 1911 and
1912, ,5%.
In 1913, 5%.
In 1916 and 1917, 2%.
In Feb. 1918, 1%.
Common
.
$900,000
Preferred $600,000 5% cum
First
mortgage
$1,500.0001
5 Q-F
None since.
EARNINGS.—
Calendar Year—
1919
Gross
Net (after
Interest,
Balance,
Earnings.
$354,596
-
Taxes).
$71,847
49,072
&c.
$51,817
52,150
sur.$20,030
def. 3,078
1918
315,144
ROAD.—Operates 22.31 miles of track.
Sur.orDef.
*
OFFICERS.—Pres., P. G. Gossler; V.-Ps., J. H. Pardee, A. Coppell,
R. B. Marchant and O. W. McConnell; Sec. & Treas., T. W.
Moffat;
Asst. Sec., C. A. Dougherty (all of New York), and Asst.
Treas., H. B.
Brown.
Operated under the general management of J. G. White Mgt.
HAZLETON, PA.
Corp.. New York City.—V. 91,
V. 107, p. 181; V. 110, p. 2657.
WILKES-BARRE & HAZLETON RR.
ORGANIZATION.—Incorporated in New Jersey Mfay 1901 and acquired
($1,500,000) capital stock and ($1,500,000) bonds of the WilkesBarre A Hazieton Railway Co. (Pennsylvania
incorporation) and deposited
the entire
the same, together with $140,000 (entire
Issue) of the Lehigh Traction Co.'s
5% certificates of Indebtedness and $926,200 of the $1,000,000 stock of
the Lehigh Traction Co. as
security for the Wilkes-Barre A Hazieton Rail¬
road Co. issue of first collateral trust
mortgage 5% gold bonds.
V.
p.
1281.
from
72,
Franchises
Hazieton
Interest
to
are 999 years In and around Hazieton and perpetua'
Wilkes-Barre.
Bonds.—The May 15 1914 Interest on the collateral trust
mtge.
of 1901 due May 15 1951 was not
paid when due.
In lieu of paying the
interest bondholders were
requested to surrender their coupons, due May 15
1914 to Nov. 15 1916, and In return the
company issued non-interest-bearing
on
certificates for the coupons as
they become due.
See V. 98, p. 1539.
was the result of a strike of the
employees of the
default
The
Lehigh Traction
he interest due May 15 1914 was paid June 15 1916.
paid Nov. 20 1916.
A supplemental agree¬
ment, dated Feb. 15 1918, was made between the
company and the bond¬
holders by which the remaining
unpaid past-due coupons were extended for
a further period of five
years, or a total of eight years from the date on
Co.,
a
subsidiary.
and that due Nov. 15 1914 was
which
they originally fell due.
Coupons affected are those for Mav 15
1915, Nov. 15 1915, May 15 1916 and Nov. 15 1916.
1917, 1918, 1919 and
May 1920 interest paid, when due.
STOCK AND BONDS—
Date.
Common $2,500,000 ($100)—
Interest.
$2,500,000
Pref 6% non-cum $700,000
185.600
Collateral trust mortgage $2.-1 1901
5 g M-N 15
1,900.000 May 151951
500.000 gold ($1,000)
c*fInt. at Guaranty Trust Co.,"N. Y.,Trustee
Collateral trust mortgage $1.-1
1905
5 g A-O
1,227.000 Oct 1 1945
500,000 gold ($1,000)
ci Int. at Guaranty Trust Co., N. Y..
Trustee,
-
Bonds and Stock.—Of the authorized issue of
$2,500,000 coll. trust bonds of
1901, $600,000 are reserved to retire all bonds of the Lehigh
Traction Co.
A
■Inking fund of $20,000 per
annum, which
trust bonds or In
In the collateral
banks in New York State.
vested
began June 1 1908, is to be In¬
bonds purchasable by savings
See V. 72, p. 1281; V. 78, p. 289. The collateral
p.
1422; V. 106, p. 1035;
HOLYOKE, MASS.
HOLYOKE STREET
RAILWAY.—Trolley.
ORGANIZATION.—Incorp. In Mass. June II 1884.
Leases the Mt.
Tom (incline) RR. until June 1 1922 at 6% per annum on the $100,000
stock.
In 1907 purchased the Hampshire Street Ry.
(previously leased). V. 85,
p. 40. In Aug. 1907 purchased the Amherst A Sunderland Street Ry. (V.85,
p. 294), giving a through connection from
Holyoke to Amherst and Sun¬
derland.
Fares.—On Feb. 17 1918 was auth. by the Mass. Public Service Comm. to
Increase fare for long hauls to 10c.
In Dec. 1918 the co.'s petition for a
zone system which would have increased its revenues
by
$235,743 was rejected by the P. S. Comm. and a tariff increasing the revenue
by not more than $145,393 was authorized instead.
V. 107, p. 2476.
Effective Nov. 9 1919, was auth. by the Mass. P. S. Comm. to establish
contraction of its
zones, each 2 miles in length, over the entire system, and to
fare in each zone.
Compare V. 110. p. 1642.
charge
a
6-cent
The $85,000 5% debentures due Oct. 1 1920 were retired at maturity, a
like amount of 1st M. Series "B" 6s being issued in connection therewith.
V. Ill, p. 692.
STOCK—
Utock
First
Outstanding. Maturity.
1095; V. 96,
p.
gold
*
Date.
($100)
mortgage,
$2,500,000,1
($1,000)—
Series
.
J-J
$1,342,000
850.000
at Springf. Safe Dep. A Tr.
1920
6%
85,000
1903
5 A-O
265,000
c*|Int.
"B"
Debenture
bouds
ntf
Leased line rental Mt Tom RR
stock 6%
Bondsi—$265,000 1st M. bonds
remainder
issuable
Interest. Outstanding. Maturity, die.
5 A-O
1915
6
100,000
July'20, 3%
April 1 1935
Co.. Trustee
April 1 1935
April 1 1923
—--
reserved to retire the debenture bonds,
Impts. under certain restrictions. Red.
are
for additions and
and int.
V. 100, p. 982.
Interest on debenture bonds payable at Holyoke National Bank.
Dividends.—From 1892 to 1915. Incl.. 8% yoarly.
In 1916. 6%.
at 107
In
Ian. 1917. 3%; July. 1H%.
In 1918. Jan. 1 X%; July div
omitted
(V. 107, p. 291). None to Jan. 1920, when 3% was paid.
July 1920. 3%.
[Vol. 111.
ELECTRIC RAILWAYS
58
Mt. Tom
miles of track. Including
ROAD.—Has 72.31
(Incline) RR.
#,900 feet long, and connecting with the Woronoco Street Ry. to Westfleld,
Mass.; with Springfield St. Ry. to Springfield, Mass., and with Northamp¬
ton St. Ry. to Northampton, Mass..and direct to Chicopee.Chlcopee Falls.
South Had ley, Amherst and Sunderland.
Passenger cars, 141; other ser¬
13: other vehicles, 7: electric motors, 269.
Dec. 31;
Net.
Int.,Tax.,&c.
Divs.
Bal.,Sur
1919
$920,186
$208,724
$121,996
$40,260
$46,46
1918
706.281
120.528
117,755
None
2,7/3
OFFICERS.—Pres. A Gen. Mgr., Louis D. Pellisler; Sec. & Treas.,
S. D, Nevin; Asst. Gen. Mgr.. Geo. E. Pellisler: Aud.. G. F. Dfnneen,
all of Hoi yoke.—V. 109, p. 776; V. 110, p. 1642; V. Ill, p. 389, 692.
vice cars, 27; snow-plows.
EARNINGS.—For years end.
Cal. Year—
„
Gross.
-
railway over lines
the city of Paris In
Brazil, Greencastle
Amo, Clayton and Plainfield, to the city of Indianapolis, and thence, through
the towns of Greenfield, Knightetown, New Castle and Cambridge City, to
the city of Richmond in Indiana; also a line running south from Indianapolis
to Martinsville, Ind.; a line running west from Indianapolis to Danville.
Ind.; a line running northwest from Indianapolis to Lafayette, with a
ROAD,—Operates a modern high-speed
electric
which comprise a continuous route from and Including
Illinois through the city of Terre Haute and towns of
branch to Crawfordsvllle; a line running northwest
from Indianapolis direct
Crawfordsvllle and from Terre Haute a line north to Clinton, Ind., and a
Also operates the city lines in Terre Haute and
Richmond.
Total miles in single track: city-lines, Terre Haute. 27.63- and
Richmond, 12.76; total, 40.39; interurban lines, total, 369.80.
Grand total,
entire system, 410.19 miles.
'
to
line south to Sullivan, Ind.
Appel; Sec A Treas.,
OFFICERS.—Pres., Iiobt. I. Todd; V.-P., John J.
A. McGowan.. .v." •.'■■■■'
K : ;
Jos.
houghton, mich.
HOUGHTON
COUNTY
TRACTION
CO.—Trolley road.
ORGANIZATION.—Organized In 1908 and took over Houghton County
Ry., which latter company was Incorporated In 1899.
Does an elec¬
tric railway business in Houghton and Keweenaw counties, Mich., connect¬
ing the cities and towns or Houghton, Hancock, Laurium, Red Jacket,
Lake Linden and Hubbeli, and the mining locations of Qulncy, Osceola.
Wolverine, Allouez, Ahmeek and Mohawk.
Franchises on public streets
expire in 1929, 1930,1932,1933 and 1938.
Largely on private right of way.
1100,000 common stock owned by Public Service Investment Co.
Street
1919 the Village Council of Houghton
Fares.—In Jan.
voted to permit
the company to increase its fares from 5 to 6 cents.
V. 108, p. 480.
In
Dec. 1919 was auth. by the Mich. P. IJ. Comm. to increase zone fares from
The company also In¬
creased fares to 6 cents in all zones outside the two townships named in the
Commission's order.
V. 110. p. 77.
The $239,000 5% bonds of the Houghton County St. Ry. due July 1 1920
were paid off at maturity. V. 110, p. 2657.
5 to 6 cents in Caulmet and Torch Lake townships.
STOCK AND BONDS—
Date.
Common $750,000 ($100)
Pref 6% cum $500,000 ($100).
....
Maturity
Hee text.
Outstanding.
Interest.
$750,000
207,200 Apr *19. 3%
A-O
consol mtge $1,600.0001 1908
5 g J-J
827.500 Jan 1 193/
($500 and $1,000) gold._tf/Int. at Old Colony Trust Co., Boston, Trust.
1st
Stock and Bonds.—Pref. stock is redeemable at
110.
$24,500 consol
bonds are in treas.;
$-117,000 tor future additions at 80% of cost;
mtge.
$110,000 owned by company; they are subject to call as a whole or in part
at any time for sinking fund at 105 and
Int. Sinking fund 1J^% of out¬
standing bonds, $23i ,000 have been canceled.
Dividends.—On pre'. 3% s.-a. from Oct. 1908 to Apr. 1919 incl.
None
On common. 2% Oct.
1909.
In 1910, April, 2\i% and same
amount s.-a. to and including April 1914.
None since.
since.
EARNINGS.—For 12 months ending June 30:
Year—
Gross. Net,aft.Tax.
Int.
Sink.Fd.
*.$309,531
304,374
1919-20
1918-19
$69,995
91,127
$48,712
48,917
Sur.orDef.
def.$3,943
sur.17,840
Spec.Res.
$25,226
24,370
.
ROAD.—Miles of single track equivalent, 32.15: 39 cars.
Standard
Power station capacity, 1,000 k.w.
Also purchases power from
Houghton County Electric Light Co.
gauge.
Harry T. Edgar. Boston; V.-Ps., F. J. Bawdem
Houghton, and Fredk. P. Itoyce, Boston; Sec., Edward T. Clark, Boston:
Treas., Henry B. Sawyer, Boston; Mgr., Samuel B. Tuell; Gen. Mgrs.,
Stone & Webster Mgt. Assn., Boston.—V. 110, p. 77, 2657OFFICERS.—Pres.,
V.
& Light Co.
March 1907 was leased to the Terre Haute
Terre Haute Traction
eased.—In
a
<"'-V
EASTERN. TRACTION.
Indiana
March
on
l
1907 and
Indianapolis & Eastern Ry.; (2) Indianapolis
Traction; (3) Indianapolis & Western Traction, ana (4) Richmond
acquired by purchase (1)
Coal
Street A Interurban
Ry.
On March 25 1907 leased the Terre Haute Traction A Light Co. for 999
years
(see terms under that company below), and In April 1907 leased for
11998
i
Date.
Interest.
Outstanding.
Maturity.
ding.
M-8
$2,000,000
See text
$2,000,000 ($100)
M-8
$2,000,000
1,000.000 Sept. '20 3%
M-S
$1,000,000 ($100 6% cu."
First cons mtge $5.00i
000\ 1904
5 g M-N
3,039.000 JVlay_ 1 1944
gold
tf/Interest at State Street Trust Co., Boston.
Terre Haute Electric 1st mtgl
1899
5 g J-J
1,500,000 July 1 1929
STOCK AND BONDS—
Common
Pref.
,$1,500,000 gold ($1,000) c*/Int. at Boston Safe Dep. A Tr. Co.. BostOD.
Equip Co pref stock 1918
6 Q-J
,
136,000 See text
1919
6 Q-J
99,000 See text.
Bonds.—The Union Trust Co. of Indianapolis and the Boston Safe Deposit
A Trust Co. are Joint trustees of the Terre Haute Electric mtge.
Of the
$5,000,000 consols, $1,500,000 are reserved to retire prior liens.
The new
oonds are callable as a whole at 110 and int. on any int. date.
A sinking
fund of 1% of outstanding bonds commenced May 1 1906.
$461,000 was
held by this fund Oct. 1 1920.
The United States Trust Co. of Terre Haute
and the State Street Trust Co. of Boston are trustees of this mortgage.
Car Trust
Car Trust Equip Co pref stock
See
V.
78,
P.
2013.
The stock matures $8,500 semi-ann.
V. 107, p. 182.
The stock
of 1919 is a first charge against 25 cars and matures $5,500 semi-ann.
to
Oct. 1 1929.
V. 109, p. 1367.
cars.
EARNINGS.—For calendar
Indianapolis A Northwestern Traction ana the Indianapolis A
Transit (see terms under respective companies).
the common stock of the Indianap¬
Owns a one-half interest in the
Traction Coal Co., insuring the company an adequate coal supply.
19
Ind.
See Shirley Realty Co. of Indiana in V. 104, p. 1805.
On May 1 1912 leased for 999 years the Indianapolis
Orawfordsville A
below).
V. 94, p. 1567
letter to bankers In
May 1910, President of the com¬
pany said; "The great majority of the franchises under which the system to
operated extend well beyond the life of these bonds [1st & ref. mtge.J.
Thf
On May 1 1918 purchased the
1933."
Indiana
stock of the West
Utilities
Co.,
lighting plants at West Terre Haute and Brazil, Ind.
Freight Rates.—On May 23 1918 the application of this co. for increased
freight rates was approved by the I.-S. C. Commission.
On May 12 1919
freight rates were Increased to practically the same as the steam roads.
Fares.—On July 1 1920 the co. was auth. by the Ind. P. S. Comm.to
charge 3c. per mile to all points in Indiana. V. Ill, p. 74. The same rate
is also charged to inter-state points.
A straight 5c. fare is charged in
Terre Haute and Richmond.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Common
$12,500,000 (S100)
$9,100,000
Preferred $12,500,000 ($100)
9,100.000
See text
1st & ref mortgage $8.000.0001 1910
5 A-0
0,500,000 April 1 1945
gold ($1,000) 8f
c*tf/Int. at Fidelity Trust Co., Phlla., Trustee
Indianapolis A; Eastern lstf 1902
5 g J-J
See text July 1 1927
Cons
M $1,000,000 gold(
""[Int. at Mercantile Trust Co.. N. Y., or at
Central Trust Co., Indlananolis. Trustee
($1.000)sinklng fund..c*tf I
Ind A Green 1st M. $300,000)
1899
5 g J-J
25.000 Jan 1 1929
($1,000) gold__.___c*tf .Int. atClt. Savings A Trust Co., Tr., Cleve..
_
or at
.
First National Bank, New York City,
Stock.—Pref. stock Is 5% cum, after July 1 1910.
Should com. at anx
will pay the same.
V. 90. p. 1555.
time pay 6%, pref.
Bonds.—Remaining 1st A ref. bonds
are
reserved for additions and
im
estrlctions.
movements, under careful restrictions.
Callable as a whole from April 1
prov<
1915 at 105 and int., or in part, for sinking fund only at K)2\4 ana int.
on
any
8.
f.
Int. date.
$55,000 p.
$852,000 held in sinking fund
Oct. 1
1920-
first, 5 years and $100,675 p
a. thereafter; bond*
acquired for s. f. to be alive and int. added to s. f. V. 90, p. 1491.
(The
payments due Feb. 11919 and 1920 had not been paid to Oct. 1 1920.)
Of the $1,000,000 Ind. A East, consols auth., $300,000 are reserved to
a.
retire the Ind .A Greenfield 1st 5s, $104,000 have been canceled by sink.fund
Of the remaining $596,000 out. $542,000 are owned by Terre Haute Ind. A
East. Trac.
A sinking fund, 1% of bonds out, began July 1 1908.
Fund to
the company's bonds if they can be houghfc at not more
Bonds cannot be called.
See V. 75, p. 342.
On the
Greenfield bonds. $12,500 is payable yearly to a sinking fund be
to be invested in
thanG05 and int.
Ind. A
ginning Oct. 1 1904. with which bonds beginning with No. 1
rhased
Oct.
1
at
105
1920.
and
accrued
int.;
$275 000
so
were
are
being
nurchased
The $25,000 remaining of this issue will be purchased
pur-
up
to
Jan. 1
1921.
Dividends.—Initial dlv., 114%. on pref. paid Oct. 1910; same amount
ruar. to and lncl. Jan. 1914.
None paid since.
See V. 98. p. 914.
Report.—For calendar
years
Began operation Oct. 25 1907.
Is entirely on private right-of-way.
and pref. stock owned by Terre Haute Ind. A Eastern Trac.
1919.
-
on
$3,455,708
2,266.836
$1,177,760
$611,339
$1,188,873
43,415
43,097
27,550
27,500
underlying bonds
$559,297
.
27,500
-
$288,544
$495,505
$288,541
-
146,105
143.159
_
Balance.
1917.
$3,882,516
2,704,756
$1,250,668
$620,154
43,716
Operating expenses and taxes
Int. & sink, fund
1918.
$4,597,537
3,346.868
.
$127,648
$63.805
$$99,785
$518,441
$296,269
135,406
$86,766
Entire
Co.
com.
Date.
Interest.
'
1907
STOCK AND BONDS—
5 g M-N
$200,000
$150,000.
$250,000 gold)
Outstanding.
Maturity.
$200,000
150,000
250,000 Nov 1 1937
—
Boston, Trus
guar p A I ($1,000)
c*tf J Int. at New England Tr. Co.,
Bonds.—Are guar. p. A I. by endorsement by Terre Haute
Tr. A Lt. Co.
EARNINGS.—For calendar years;
Dec. 31 Years—
Gross.
Net.aft.Tax. Oth.Inc. Deductions.
1919
$64,908
$18,726
$500
$12,500
50.380
14,549
500
12,500
OFFICERS.—Pres., E. M. Walker; V.-P., F. T. O'Hair; Sec.
John T. Beasley.—V. 90, p. 1555.
-
-
BaL.Sur.
$6,726
2,549
A Treas.,
Indianapolis & Northwestern Traction Co.—An electric road.
April 1907 was leased to the Terre Haute Indianapolis A
The latter company will pay the interest
on
the bonds;
also 1J4% quar. or 5% per annum on the $450,000 pref.
stock and $500 per year for organization.
V. 84, p. 869.
Entire issue of common stock, except directors shares. Is owned by the
ease.—In
a
Eastern Traction for 999 years.
Terre Haute
Indianapolis A Eastern Traction.
ORGANIZATION.—Organized in 1902 in Indiana.
Operates a modem
high-speed interurban railroad, standard-gauge, located upon private right
of way outside of the city corporate limits.
Extends northwasterly from
the city of Indianapolis through the cities of Lebanon and Frankfort to the
city of Lafayette, with a branch from Lebanon to Crawfordsvllle, each of
which cities is the county seat of its respective county.
Has trackage
rights to the business centres of Indianapolis and Lafayette.
The franchises run for 31 to 50 years from 1907 and permit the carrying
of freight, express and mail, as well as passengers.
AND BONDS—
STOCK
Interest.
Date.
Common $2,550,000
Pref ($1,000,000) 5% cum
First
mtge
(S1.0Q0)
450.000
See text
$3,000,000 goldf 1903
2,470.000 Mar 1 1923
c*tf) Int. at Columbia Tr. Co., N. Y.. Trus.
Q-J
5 g M-S
Bonds.—The remaining $530,000 for
of cost.
No
s.
improvements, Ac., at 50% and 75%
int. date at 110 and int.
f., but bonds can be called on any
EARNINGS.—For years ending Dec. 31;
Cal.Years—
Gross.
Net.aft.Tax. Olh.Inc.
1918
—
Maturity
Outstanding.
$2,550,000
-
$139,659
98,681
$639,563
516,947
ROAD.—Embraces
$500
500
84.15 miles of track
sur.$16,659
def.24,319
$123,500
123,500
between
Indianapolis, Zions-
branch from Lebanon
Owns 20 passenger,
Power house and car barn are at Lebanon.
5 freight and 5 service cars.
V. 88, p. 295; V.
Balance.
Deductions.
ville, Lebanon. Frankfort and Lafayette, including a
to Crawfordsville.
Standard gauge; 70-1 b. T rail.
92. p. 59.
V.-Ps., Chas. Murdock and Harry
A. McGowan.
OFFICERS.—Pres., Robt. I. Todd;
S.
New;
Sec. A
Treas., Jos.
(3) Indianapolis & Martinsville Rapid Transit
Leased.—In April 1907 was leased to the Terre
East. Trac. for 999 years.
Co.—An electric road
Haute Indianapolis A
The latter co. will pay the int. on the bonds; also
$500 per year for organization.
V. 84, p. 749.
The Terre
Eastern owns entire issue of stock except directors' shares.
Haute Ind. A
ORGANIZATION.—Incorporated in Indiana on April 24 1901.
ates on private right of way except in incorporated towns. .
Date.
STOCK AND BONDS—
(excl. Ind. Tr. A Term. Co.)
Gross earnings
Haute, Including lines
Haute, Clinton, Brazil, Sullivan and SanOwns 112 city passenger and 14 inter¬
cars, 6 freight and 18 service cars.
(a) Terre Haute & Western Railway Co.—An electric road.
Leased to Terre Haute Traction A Light Co. for 999 years from Nov. 1907.
ORGANIZATION.—Incorporated in 1907 In Illinois.
Road extends
from the Indiana State line near Sanford, Ind., to Paris, 111., 10.63 miles.
First mortgage
which operates
Balance.
$220,742
217.527
$30,903
31,243
60 to 80 lbs.
Rails.
Preferred
Franchises in the city of Indianapolis expire in
$277,602
271,650
ROAD.—Embraces 87.26 miles of track in Terre
_
Sink.Fd.
Deduc'ns.
$1,000
1.000
from Terre Haute to West Terre
Stock common
a
.
Oth.Inc.
$528,252
519,415
$1,816,429
1,571,977
1918—
years:
Net.
Gross.
Year—
1919..
The company owns $1,000,000 par of
olis St. Ry. Co. (incorporated 1919).
Franchises.—In
charge against
Equipment Co. pref. stock of 1918 is a first
The Car Trust
30
Martinsville Rapid
Danville Elec. Ry. (see terms under latter company
Terre Haute Elec¬
Principal railway
princim
franchises expire 1952; principal lighting franchise perpetual; other franan. 1 1906.
Leases Terre Haute A West.Ry.
chises average 30 years from Jai
999 years the
United
',>■
•'
ORGANIZATION.—Is a consolidation In 1904 of the
tric Co. and the Terre Haute Electric Traction Co.
OFFICERS.—Pres., Demas Deming; V.-P., Robt. I. Todd: Sec. A Treas..
Joseph A. McGowan.—V. 98, p. 525; V. 107, p. 182; V. 109, p. 1367.
indianapolis, ind.
INDIANAPOLIS &
...
Indianapolis A
The latter company guarantees 6% on
the outstanding pref. stock and 2% on common for 1H years, 3% for
1 year. 4% for 1 year, and 5% thereafter, and $1,000 per year for organi¬
sation expenses.
V. 84, p. 750.
The Terre Haute Ind. A East. Trac. owns all the common stock except
Eastern Trac. Co. for 999 years.
urban passenger
ORGANIZATION.—Incorporated In
80. 1722.
1231, 1901, 2650; V. 107. p. 182, 1670; V. 108, p
1416; V. Ill, p. 74, 190, 289.
106, p. 930,
2630; V. 109, p. 1367; V. 110, p.
ford,
TERRE HAUTE
'7,
DIRECTORS.—Robt. I. Todd, Randal Morgan, W. Kelsey Schoepf.
James W. Lilly, Leroy T. Hixon, J. J. Appel and Jos. A. McGowan.
Stock $750,000
Interest.
($100)
First mtge, $750,000
($1,000)1 1902
5 g J-J
Outstanding.
$7.50.000
750,000
Oper¬
Maturity.
:
Jan 1 1932
ntf( Union Trust Co. and Security Tr. Co. of In{dianapolis. Trus.
Int. at Sec. Tr. Co., Ind.
Bonds.—No sinking fund, but bonds are subject to call after 10 years at
105 and interest.
See V. 78. p. 1223.
c*&r
gold
EARNINGS.—For calendar years:
Dec. 31
1918
Year.
Gross.
$236,559
192,116
Net.aft.Tax.
$69,306
51,365
.
Oth.Inc.
$500
500
Deductions.
$37,500
37,500
ROAD.—Embraces 27.53 miles of track from Indianapolis
ville, completed in May 1903.
Balance.
sur.
sur.
to
$32,306
14,365
Martins¬
70-lb. rails; standard gauge.
OFFICERS.—Pres., Robt. I. Todd; V.-Ps., Harry S. New. Chas. Mur¬
dock and John J. Appel; Sec. A Treas., Jos. A. McGowan.
V. 84, p. 749.
Oct., 1920.]
(4)
Indianapolis
Lease.-— On May
ELECTRIC
Crawfordsvtlle
1
1912
was
leased
&
Danville
to
the
Electric
Terre
Haute
Eastern Trac. for 999 years.
tees p. & i. of 1st
M. bonds,
Ry.
Indianapolis A
Under the lease the latter company guaran¬
5% divs. on $200,000 pref. stock and semi¬
annual divs. on com., viz.:
x% from Nov. 30 1912 to May 31 1914, 1%
Nov. 1914 to May
1916,1H% Nov. 1916 to May 1918 and 2% thereafter.
.ORGANIZATION.—Incorp. in Indiana on April 20 1912 as successor to
the Indianapolis Crawforsdville & West.
Trac., sold at foreclosure. "Built
entirely on private right-of-way.
In cities and towns has 50-year franchises
which permit the carrying_of freight,
express and mail matter.
STOCK AND BONDS—
Date.
(510°)—*
($100).
52,500,000 gold] 1912
($1,000) guar p&i_.c&r tf/Interest
Pref $400,000 5% cum
Interest.
Outstanding.
Maturity.
M-N
$400,000
See text
J-D
200,000
See text
5 g M-N
1,000.000 May 11952
at Girard Trust Co., Phila.. Trustee.
remaining first mtge. bonds, $1,000,000
are
for
extensions
and $500,000 to be issued only under certain conditions.
Subj. to call as
Part at 102^ and int. on any int. day.
.Sinking fund of
$9,000 per annum on initial $1,000,000 bonds out commenced March 1 1913
When add'l bonds are issued fund shall be increased
by such amount as will
not *n
retire 2-3
of such add'l bonds issued.
Oct. 1 1920.
v
EARNINGS.—For calendar
$96,000 held alive in sinking fund
.
v
years:.
Year—
Gross. Net.aft.Tax.Oth.Inc. Deduc. Sink.Fd.
Balance.
1919 ———$426,881
$79,403
$500
$46,187
$12,813 sur.$20.903
1918
—*
313.918
74,554
500
46,828
12,172 sur. 16,054
ROAD.—Operates 44.87 miles of road between Indianapolis and Crawfordsville.
Standard gauge.
70 and 85-lb. T rails.
An extension from
Crawfordsville to western boundary of Indiana east of City of Danville.
Ind., is proposed.
:
RAILWAYS
ROAD.- -Operates 141.64 miles of track and owns 9-story office and
terminal building, train-sheds and 3 freight depots
centrally located in
Indianapolis; also real estate on which same are constructed.
This ter¬
minal is used by all interurban roads (13 in number) entering Indianapolis
A new freight terminal is to be erected.
Owns electrical and steam equip¬
ment of 7,000 k.w. capacity.
Qwns 542 double trucks, 182 single truck
passenger
OFFICERS*—Pres., John J. Appel; V.-P., Robert I, Todd: Sec. & Treas.,
V. 94, p. 1449, 1565, 1695
,
ORGANIZATION.—Incorp. in Indiana on June 30 1919.
Is consolida¬
Indianapolis Street Ry. Co. and the Indianapolis Traction &
Co.
(For separate history of each of these cos. up to time of
the "Electric Railway Supplement" of March 29 1919.)
The consolidation was effected as per plan m V. 108, p. 2329 subject to
conditions stipulated by the Ind. P. 8. Comm. as outlined in V. 109,
p. 172.
On Aug. 29 1919 the Federal Court approved this consolidation
and dismissed the suit brought by certain minority stockholders against
same.
V. 109, p. 982.
Interurban railways enter the city under agreements by which they pay
3 cents per passenger for all passengers carried in the city limits and an
additional 1 cent for those using the terminal station.
V. 81, p. 264.
Guarantees the ($400,000) bonds of Broad Ripple Traction Co., and owns
75% of its. stock.
■
'
see
Sink. Fund Bonds.—-See Y. Ill, p. 692.
olis Street Railway.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity,
;
$100,000
Mtg $400,000 g ($1,000) c*ntf- J1899
5 g J-J
400.000 July 1 1933
(Int. at Guar. Tr, & S.D.Co.(Phila.), Trust.
Bonds.—Are guar. p. & I. by Ind. St. Ry.
No s. f. and bonds cannot
be called.
The Ind. Nor. Trac. Co. (subsequently consolidated with the
Union Tr. Co. of Ind.) guarantees p. & i. of half ($200,000) of the bonds.
Stock $100,000 (par $100)
ROAD.—7Ji miles Of track from Indianapolis to Broad Ripple Park.
OFFICERS.—Pres., Robert I Todd; Sec. & Treas., Jos. A. McGowan.
73, p. 137, 183; V. 78, p. 1167.
—V. 69. p. 180; V.
INDIANAPOLIS
due Jan. 1
1919 on the Ind. Street Ry. gen. mtge. 4s was paid July 1 1919.
this issue due July 11919 was paid Nov. 20 1919.
Int. payments
being made when due.
on
Fares.—On Dec. 28
a
1918 the Ind. P. S. Comm. auth. the
co.
to charge
straight 5c. fare under
The
co.
an emergency clause, which fare still continues.
in Oct. 1920 was about to petition for a higher rate of fare.
STOCK AND BONDS—
Common
($50)
Pref $5,000,000 ($100)
Date.
Interest.
-
6 Q-M
cum
See text
mtge
Ind Tr & Ter Co 1st M $5,-1
.
1903
5 g A-O
3,833,000 Jan
1 1933
000,000 g ($1,000) S f_c*tf f Int. at Guaranty Tr. & S. D. Co.*. Phila., Tr.
1899
4 g J-J
Indianapolis Street Ry gen
4,987,000 Jan
1 1933
mortgage $6,000,000 gold Interest at Guar. Trust & Safe Deposit Co.,
($1,000) guar
c*ntf
Philadelphia, Trustee.
Citizens'
Street
1893
5 g M-N
Ry
1st M
4,000,000 May 1 1933
$4,000,000 g ($1,000)_c*tf Central Trust Co., New York, Trustee.
1911
5 J-J
Equip certificates Series "B"
5,000
See text
$100,000--__
/Fidelity Trust Co
Philadelphia, Trustee.
Equip certificates Series "C"
1913
5 M-S
2^,000
See text
6 J-D
Equip certificates Series "D"l 1913
35,000
See text
$100,000--——
/
Equip certificates Series "E"1 1916
5 J-D
82,090
See text
$125,000 ($1,000)
/Pa. Co. for Ins. on L. & G. Ann., Phil..trust.
Ind Car Equip Co 1st pref stk. 1919
6 Q-J
190,000
See text.
Interest on Citizens' consols at Fourth Street Nat. Bank, Philadelphia.
Stock.—Preferred stock is pref. as to assets and divs.
It is stated that
common stock will be allowed no voting power unless the pref. divs.
the
paid in full,.
V:,;V
i/f. ,'■/< v-V
Bonds.—The cons. mtge. bonds are limited to an auth. Issue of $15,000,000 up to April 7 1933, after which, the auth. amount may be increased to
$25,000,000, incl. the divisional bonds, if any, then outstanding, and
excess of $10,000,000 bonds may bear such rate of interest, not ex¬
ceeding 6% p. a;, and be used for any proper corporate objects and pur¬
poses of the consolidated co.
The $15,000,000 now authorized will bear
int. at not exceeding 6% and shall be issued only for addns. and better¬
ments .to and exts., acquisitions and replacements of lines of street railroad
which become a part of the street railroad system of the consolidated com¬
pany in Indianapolis and its vicinity.
Bonds sha/7 only be issued to the
amount of par value of bonds of the three divisional issues which have been
or shall be taken up and canceled by sinking fund payments, so that at no
time while any of divisional bonds are outstanding (unless their present
dates of maturity shall be extended)
shall the aggregate amount of [new
and old] bonds secured by mortgages on the property exceed $15,000,000.
But notwithstanding the foregoing, provision may be made in the mortgage
for the issuance of bonds to refund the existing mortgage indebtedness, or
any part thereof [at maturity].
All bonds issued for refunding shall be
subject to be taken up and canceled by the sinking fund provisions which
were applicable to the refunded bonds in their original form, and when so
taken up and canceled, original bonds may be Issued in substitution there¬
for, which, or the proceeds thereof, shall be used only for permanent impts.
and betterments.
Provision may be made in said mortgage that the ma¬
turity of any outstanding bonds which become due on or before April 7
1933 may be extended to such date as may be determined by the Board at
not exceeding 6% interest if permitted by law.
The lien of the several underlying mortgages is confined to the property
and interests upon which each was a lien prior to consolidation and does
not extend to any other property of the consolidated company, except as
"general debts," without priority, after satisfying of the mortgage liens
such
,
thereon.
The Ind. Trac. & Term, bonds have
a sinking fund which provides for
1-5% of bonds outstanding.
See V. 76, p. 1085.
sinking fund at 102Yi and int. and are subj, to
call at that price. See V. 81, p. 264.
$1,167,000 in sinking fund canceled.
The Ind. St. Ry. bonds have a sinking fund sufficient to redeem at maturity
the greater part of the entire issue.
$1,013,000 in sinking fund canceled.
The
divisional
bonds in the sinking funds at the time of consolida¬
tion were canceled so that they could no longer draw interest and payments
to the sinking funds suspended until 1923.
All future sinking fund pay¬
ments are to be applied to the cancellation of bonds.
Equipment certifi¬
cates Series "B" mature $5,000 on Jan. 1 and July 1 in each year until
paid in full.
$95,000 have been retired.
They cover purchase of 25 new
cars.
Series "O" mature $5,000 on March 1 and Sept. 1 each year until
paid in full.
They cover 25 new cars.
$75,000 have been retired.
Series
"D" mature $5,000 en June 1 and Dec. 1 each year until paid.
Covers
25 new cars.
$65,000 have been retired.
Series "E" mature $6,000 or
$7,000 on June 1 and Dec. l each year.
They cover 25 cars.
$43,000 have
been retired.
The Ind. Car Equip. Co. 1st pref. stock was used to purchase
25 cars.
The stock matures $10,000 semi-ann.
V. 109, p. 1700.
Bonds
are listed on Philadelphia Stock Exchange.
V. 69, p. 851.
Dividends.—Dividends of 6% (1%quar.) are being paid on the pref.
the payment annually of 1
Bonds may be drawn for
stock.
10
TRACTION
CO.
Nov.
on
17 1910 as suc¬
the old Indianapolis & Cincinnati Trac. Co., sold at foreclosure1910.
V. 91, p. 1385, 1025.
had owned and to which company the Ind. & Southeastern was leased) and
canceled its com. stock.
V. 92, p. 881, 956.
Private right of way except in
cities and towns.
County franchises perpetual.
Franchises in cities and
towns are for 50 years
„
(the oldest being dated 1904), except in Indianapolis,
1900.
Has contract with Indianapolis Traction
which is for 34 years from
& Terminal Co. for 31 years allowing its cars to enter Indianapolis.
In Nov. 1912 the I. & O. Light & Power Co. was incorporated with
nominal ($900) capital stock in the interest of the Traction Co. to furnish
light and power to the communities along the company's route.
■
In Feb. 1913 the I. A O. Electric RR. was incorp. with $10,000 capital
stock, to extend the Traction Co.'s lines from Rushvllie to Cincinnati by way
of Brookville, Ind., and Harrison, O.
It may later be merged with the
Cincinnati Harrison A Indianapolis Traction Co.
In April 1913 acquired control of the Cincinnati A Westwood RR., a
aarrow-gauge road extending from Westwood, on the boundary line of
Cincinnati, to Brighton, within the city. 5 1-3 miles.
V. 96, p. 1297.
On
Jan.
19 1918 was auth. by the Indiana P.
S. Comm. to increase
fares from 2 to 214 cents per mile, and, effective .Tan. 10 1919,
2% cents'per mile.
Effective July 1 1920 rates were
raised to 3 cents per mile with auth. of the Ind. P. S. Comm.
V. Ill, p. 74.
Payments in Scrip.—On Oct. 1 1918 $15,000 of divs. on Ind. & Southeast¬
ern pref. stock being unpaid, the co. issued in lieu
thereof a like amount
6% ctfs. of indebtedness, due two years after the close of the war.
Divs.
due Apr. 1 and Oct. 1 1919 were paid in the same way.
On Jan. 1 1919
$60,000 additional 6% ctfs. of indebtedness were issued to pay the $60,000
to increase rates to
of bond interest due
that date.
on
These ctfs. mature
BONDS—
STOCK AND
on
Int. due
Jan.
1
July 1 1919 was paid in a like
V.
1921.
Interest.
108, p. 784,
Maturity.
$2,000,000
1,000,000 In 1912, 1%
5 J-J
1.400.000 July I J940
1
1910
000) gold (see text)
c*JInterest at Central Trust Co., N. Y., Trus.
I A S E pf stk $600,000 ($100)
A-0
'
600.000 In 1917, 5%
Ind & S E 1st M $1,000,0001 1905
5 g J-J
586,000 July 1 1935
gold ($1,000)
1
)Int. at Farmers' Loan A Tr. Co.,N.Y.,Trus.
Ind Shelbyv & Southeast 1st]
1902
5 g J-J
414.000 Jan 1 1932
M $500,000 g ($1,000) s f_./Int. at C. A C, Tr. & Sav.Bk., Chicago, trus.
Certificates of indebtedness
—6%
165,000
See text
Date.
Common $2,000,000
Pref $1,000,000 (see text)
First mtge $4,850,000 ($1,-1
Outstanding.
...
J-J
....
.
m
,
Stock.—Ind. A Cin. Trac. pref. Is entitled to non-cum. divs. of 2% until
July 1 1911, then increasing 1% yearly to July 1 1913; thereafter 5% per
annum.
Ind. A S. E. pref. Is redeemable at 105 and accrued dlv. on any
dividend date.
See V. 81, p. 1375.
Bonds.—Ind. & Cin. Trac. 1st M. Is divided into three classes, A, B and C.
Class B, $200,000, none issued; and Class O,
$3,350,000 (of which $100,000 outst'g), reserved for extens., improvem'ts,
Ac.
Entire series of bonds of each class is subject to call on or after July 1
1913 at 105 and Int.
As to priority of different series, see V. 92, p. 956.
Of the $1,000,000 Ind. A S. E. bonds, $414,000 Is reserved for prior liens
They are subject to call on any int. date at 105 and int.
Of the Ind. Shelby .
A S. E. boruls, the entire issue may be called on any Int. date at 110.
A
sinking fund on these bonds of $10,000 per annum began Jan. 1 1908, for
which bonds can be called at 105, beginning with lowest number.
$86,000
Class A, $1,300,000. all out;
have been retired.
Dividends.—On
paid In
pref.
EARNINGS.—For
fiscal
1911.
\H%',
ending
year
in, 1912,
Dec.
31
1%.
1919. gross $677,075,
and dividends on
net, $242,427;
other income, $3,791;
interest, taxes
I. & S. E. pref. $184,574 ($90,000) of this amount was
above under "Payments
on
in scrip");
surplus for
year,
paid in scrip—(see
$61,644 (all expended
maintenance)
deferred
ROAD,—Operates 58 miles of track from Indianapolis via Rushville of
and 49 miles of track from Indianapolis via Sheibyviile to
Total, 105 miles of track.
An extension from Rushville
via Harrison, O., to Cincinnati is proposed.
60 and 70-1 b. T rails.
20 pas¬
Oonnersville
Greensburg.
senger car«
and 6 express cars
OFFICERS.—Pres., Chas. L. Henry, Indianapolis; V.-P., W. Durbin,
Anderson;
Sec., John J. Appel, Indianapolis; Treas,, J, F. Wild, Indian¬
apolis.
Office, Indianapolis.—V. 108, p.
171, 784;
Ill, p. 74.
V.
■
IRONWOOD, MICH.
IRONWOOD
&
BESSEMER
RAILWAY & LIGHT CO.
Chicago, 111., purchased control.
In Jan. 1917 the L. E. Myers Co. of
ORGANIZATION.—Incorporated in Wisconsin in 1910 as the Gogebic
A Iron Counties Ry. A Light Co., the present name being assumed in Feb.
1911.
Owns 60% of stock of Ashland Lt., Pow. A St, Ry. Co.
Controls
elec. light, power & street railway business in Ashland. Ironwood, Bessemer,
Wakefield, Hurley and Gile; the gas business in Ashland, and the water
supply In Hurley and Gile.
Also owns some of the most valuable
natural water powers in Wisconsin.
Franchises in Ironwood and Bessemer
expire In 1941.
In Wisconsin operates under Indeterminate franchise.
In Jan. 1913 increased its auth. pref stock from $200,000 to $400,000
In Dec. 1918 the co. brought out $247,000 1st mtge. 5s, proceeds to be
used to reimburse the co. for expenditures made in the construction of the
Superior Falls water power plant. V. 107, p. 2476.
In May 1919 issued
$294,000 3-year 7% notes, proceeds being used to reimburse the co. for
expenditures made in the construction of the Superior Falls water power
plant. V. 108, p. 2122.
In Sept. 1919 the Ash. Lt.. P. & St. Ry. put out
an issue of $96,700 3-year 7% coll. notes Ser. "A," proceeds being used to
reimburse the co. for expenditures made for ada'ns and betterments.
V. 109, p. 1079.
Outstanding.
Maturity.
$500,000
See text
Q-M
400,000
See text
1911
5 F-A
1,573,000
Feb 1 1936
($ 1,000)..c*_tf< Int. at American Trust < i«»
Boston Trusty
STOCK AND
BONDS—
Common $500,000 ($100)
Pref $400,000 ($100) 7% cum.
First mtge $2,500,000 gold)
sink
fund
notes (see text
g)
($100, $500 A $l,000)C*tfJ
Ash
l.t,
P A
St
$1,000,000
Ash
Ry
gold
1st
mtgej
($1,000)
I
Lt, P A St Ry coll notes]
tax
refund.
Series "A" ($100,
$1,000)
Date.
Interest.
....
.
Collateral
Penn
EARNINGS.—For year ending Dec. 31 1919, gross, $4,738,941; net,
after taxes, $1,078,937; rents, sinking fund and other deductions, $856,461;
balance, surplus, $222,476.
/
to
manner.
Outstanding. Mat'y, &c.
$1,000,000
5,000,000 Sep.201^%
Consolidated
are
CINCINNATI
&
ORGANIZATION.—Incorporated in Indiana
passenger
Interest Payments.—Int. amounting to $125,000 due April 1 1919 on the
Ind. Trac. & Term. 1st 5s was paid Sept. 22 1919.
The $120,000 int.
The int.
U
com.
tion of the old
are now
.
In 1911 acquired the Indianapolis & Southeastern Trac. Co. (all of whose
and $30,000 1st M. bonds the old Indianapolis & Cincinnati Trac. Co.
INDIANAPOLIS STREET RAILWAY CO.
The Terre Haute Indianapolis & Eastern Traction Go. owns the $1,000,000 com. stock.
.-.:r
on
;
BROAD RIPPLE TRACTION.—A trolley road.
Nov.
Tax Decision
V
cars.
ORGANIZATION.—Organized as successor to the Indianapolis & Broad
Ripple Transit Co., sold at foreclosure July 1899.
The Indianapolis
Street Ry. owns about 75% of stock* but organization Is separate.
Road
is Jointly operated by the Union Traction Co. of Indiana and the Indianap¬
cessor
Terminal
and 120 service
OFFICERS.—Chairman of the Board, Henry Jameson; Pres. & Gen.
Mgr., Robt. I. Todd; V.-Ps., Henry C. Thomson and John J. Appel; Sec.
& Treas., Joseph A. McGowan; Asst. Sec. & Treas., Wm. F. Milholland.
—(V. 108, p. 2620; V. 109, p. 172, 676, 982, 1700,1986; V. 110, p. 77, 1415;
V. 111, p. 692, 1656.
J;• i.-.V- y
""i •:: : •
•
Jos. A. McGowan; Gen. Mgr., Robt. I. Todd.
consolidation
59
-
cAr.tf
$500
294,000 April 1 1922
1919
7 g A-0
....
„nnnnn
1909
5 g J-J
720,000
t
,
man
Jan 1 1939
Int. at Chicago Sav. Bk. A Tr. Co., Trustee
'Leverett Thomoson of Chic
Do - Triisiwi.
,
1919
7 g F-A 1
96,700 Aug 1 1922
andfCont. A Comm. Trust & Savings Bank,
,__c*Ar*tfJ
Chicago, Trustee.
ELECTRIC
60
Bjnds.—Remaining Ironwood & Bessemer 1st M. bonds may be Issued
under certain restrictions.
Red. all or in
part on any int. date at 104 and int. for sinking fund.
Sinking fund pro¬
viding for retirement of 1% of outstanding bonds at not exceeding 104 and
int. began with year ending Feb. 1 1916.
$392,000 are pledged as security
for the $294,000 7% notes.
Ashland Lfc., Power & Street Ry. bonds are
subject to call on any int. date at 104.
Sinking fund of 1% of bonds out
began In 1912.
See V. 104, p. 450.
$129,000 are pledged under the co.'s
3-year coll. notes Ser. A.
for 75% of cost of nevr property
Notes.—Authorized issue is limited by the restrictions of the trust deed.
Are secured by
Red., all
pledge of 1st M. 5s in the ratio of 133 1-3% ($392,000).
in part, on any int. date at 100 and int. on 30 days' notice.
or
V. 108. p.
The Ash. Lt., P. & St, Ry. ooll. notes Series "A." are
co., being in the ratio of 133 1-3$
$100 of notes outstanding.
Additional notes may be
time to time providing same are secured by 1st M. 5s in the
Red., all or in part, at 100 and int. on any int. date upon 30
2122.
secured by $129,000 1st M. 5s of that
of bonds for each
issued from
same
ratio.
days' notice.
V. 109, p. 1079.
EARNINGS.—For years ending June 30:
Year
Gross.
Exp& Tax
Net
Bond Int.
1919-20
$331,411
253,977
$572,991
496,084
V. 110, p. 1849.
No further information.
See reorganization
plan below.
Reorganization Plan.—The committee named below has drawn up a plan
of reorganization which provides in part as follows: A new corporation to
be known as the Jackson Public Service Co. is to acquire the new 25-yr.
franchise (granted at a municipal election held Jan. 17 1920) and all the
assets of the Jackson Light & Traction Co.
The new co. is to issue $1,055 ,000 1st M. sk. fd. bonds, of which $930,000 are to be delivered, bond for
bond, to the holders of ctfs. of deposit for the Jackson Light & Traction
Co. 1st mtge. 5% bonds, $125,000 additional bonds of the new issue are
to be used to satisfy claims of all general creditors and to pay certain
reorganization expenses.
The new bonds are to be dated Oct. 1 1919, and
mature Oct. 1 1934, bearing interest at 5% to April 1 1922, (the maturity
date of the Jackson Light & Traction bonds), and 6% thereafter until
maturity.
They will be protected by a contract with the American Public
Utilities Co., under which the latter guarantees the priority of the new
issue over all liabilities incurred by the new co.
Defaulted interest, due
auction.
April 1 and Oct. 1 1919, on the old issue is to be paid by scrip maturing in
1 1921, to Jan. 1 1924, inclusive.
V.
110, p. 1973.
No further information.
four annual installments from Jan.
Dividends.—7% per annum In being paid on preferred (Increased in 1916
from 6% per annum).
8% is being paid on common stock.
1918-19
[Vol. 111.
RAILWAYS
$241,580
242,107
"Default.—Int. due April 1 1919
on
the 1st M. 5s being unpaid, the fol¬
lowing committee was formed:
Ac. Oth Ded.
Bah, Surp.
$98,884
$13,831
$128,865
87,613
21,776
132,717
ROAD.—Owns 15 miles of street railway serving Bessemer, Iron wood,
Hurley, Montreal and Hamilton; water-power site capable of 4,000 h. p.
development, located at Brownstone Falls, 3 developed hydro-electric
filants of 5,150 h. p. at Superior, Mellen milesSaxon Falls; 3 lines. plants at
ronwood, Wakefield and Bessemer; 140 and
transmission steam
OFFICERS.—-Pres., L. E. Myers; V.-P., h. N. Boisen; Sec. & Treas.,
Office, 53 W. Jackson Bldv., Chicago, 111.-—V. 104,
764; V. 107, p. 2476; V. 108. P. 2122.
Wm. H. P. Weston.
for
Committee
5s.—Chairman,
M.
Is/
Wm.
T.
Bacon;
Lawrence M.
Symmes, Arthur C. Allyn, Crawford Livingston; Sec., Roy K. Thomas, care
Chicago Sav. Bank & Trust Co.
Depositary, Chicago Sav. Bank & Trust
Co., Chicago, 111. V. 108, p. 2241.
ORGANIZATION.—Incorp. in Miss, in May 1912 to combine local gas
light and power and street railway properties.
In Sept. 1919 the company put out $125,000 additional 1st mtge. 5s
(included in amount outstanding), proceeds being used for new construc¬
electric
tion, &c.
STOCK AND BONDS—
p. 452,
$1,000,000
Common
Interest.
Date.
($100)
Maturity.
Outstanding.
$1,000,000
-
600.000 ------gold I 1912
5 A-O
1,055.000 April 1 1922
($100, $500, $l,000)sf_c*tf/Chicago Savings Bank& Trust Co.. Trustee,
Pref 6% cum $600,000First mtge
$2,500,000
ISHPJEMING, MICH.
MICHIGAN
West
ELECTRIC
&
GAS
CO.—Controlled
Utilities Co.
by
the
'
!
1906
ORGANIZATION.—Incorporated
In Maine on
Nov.
19
as
Houghton
County
Gas & Coke Co.
Name changed to the
14 1917.
The company acquired, effective Jan. 1 1917, the
Constantino Hydraulic Co., Three Rivers Light & Power Co., Three Rivers
Gas Co., Milling & Power Co., and the Marquette County Gas & Elec. Co.
(excluding the street railway, which see below).
the
STOCK AND BONDS—
Maturity.
Outstanding.
Interest.
Date.
$500,000
6%
400,000
Jan 1 1932
5 g J-J
630,600
$500, $1,000) gold. _.c*.tf/Central Trust Co. of Illinois, Chicago, trustee.
M Co G & El 1st M $1,000,-1 1910
6 g J-J
387,000
Jan 1 1930
000 ($1,000) gold
c*.tf/First Trust & Sav. Bank, Chicago, trustee.
Hough Co Gas & Coke Col 1906
5 g F-A
72.000
See text.
$350,000 ($1,000) g..c*.tf/Central Trust CoL of Illinois, Chic., trustee.
Constantine
Hydraulic
Col 1905
5 g A-0
228,000
Apr 1 1925
$250,000 ($1,000) gold.c.tf/Central Trust Co. of Illinois, Chic., trustee.
Three Rivers Gas Co $75,0001 1907
5 g'A-0
59,000
Oct 1,1936
($500)
c*.tf/Detroit Trust Co., Detroit, Mich., trustee.
Common $500,000
Pref cum $400,000
($100)
($100)
($100,1
First & ref $3,000,000
1917
5s are secured, in addition
Bonds.—The 1st & ref.
to their lien on the
property, by pledge of entire capital stock (with exception of directors'
shares) of the Marquette County Elec. Ry. Co.
Sufficient are reserved to
retire prior liens
and the balance for corporate purposes. Are callable at
before Jan. 1 1927 and at 101 & int. from Jan. 1 1927 to
Of the $387,000 Marquette County
Gas & Elec. Co. 1st 6s reported outstanding. $139,000 have been assumed
by the Marquette County Elec. Ry. Co. (see below), which has acquired
and owns a part of the property upon which the mortgage is a lien.
Sinking
fund of 1% from 1913 to 1915 and 2% thereafter.
Are callable at 105 on
any int. date.
The Houghton County Gas & Coke Co. 1st 6s are due seri¬
ally on Feb. 1 as follows: 1921-24, $5,000 per ann.; 1925-29, $6,000 perann.;
in 1930, $10,000, and in 1931 the remainder.
The 1st M. 5s of the Con¬
stantine Hydraulic Co. are subject to call at 105.
The 1st M. 5s of the
102M & int.
on or
Jan.
on
1
1931
three weeks' notice.
Three Rivers Gas Co.
callable at 105
are
on
any
Subject to call as a whole (or in part for sinking
tain restrictions.
any interest date at 105 and int.
Sinking fund of 2% of
Feb. 1 1914.
Interest in Chicago and at New York office
&
above Feb.
'
EARNINGS.—For 12 months ending
Year—
Gross.
Exp. & Taxes.
The Marquette County Electric Ry. Co.—Organized with $25,000
capital stock (all of which, with the exception of directors' shares/is owned
by the Michigan Gas & Elec. Co.)
Property leased to the Michigan Gas &
Elec. Co. under general contract which provides for payment of bond in¬
(a)
terest, operating expenses and upkeep.
The company has assumed
000 of the 1st M. bonds of the Marquette County Gas & El. Co.
$139,
$208,638
192,251
193,271
$325,492
309,723
279,785
1917
1916
1915
ITHACA, N. Y.
corporation.
1918 Ford, Bacon & Davis, N. Y. City, acquired a substantial
Interest in the Central N. Y. Southern
RR. Corp., which controls the
Ithaca Traction Corporation.
ORGANIZATION.—Incorp. In N. Y. Mar. 30 1914 ais successor of the
Ithaca Street Ry. sold at foreclosure under bondholders' reorganization plan.
The new co. Is controlled by the Central N. Y. Southern RR. Corp., an al¬
lied steam road, by ownership of all the ($400,000) outstanding stock and all
($488,000) outstanding 1st h ref. bonds.
The Central N. Y. Southern RR.
Corp. is a reorganization of the New York Auburn Ac Lansing RR. and la
capitalized as follows : Common stock, auth., $1,275,000; outstanding
$375,000. Pref. stock, auth. and outstanding, $725,000;and 1st and coll.
trust 5s due 1964.
Auth. $4,000,000; out., $1,000,000.
(V. 99. p 538.)
Fare Increase.-—In Dec. 1917 the N. Y. P. S. Coram, auth. the co. to
Increase its fares to 6 cents.
On Nov. 141918 the P. S. Comm. granted
auth. to charge a 7-cent fare with the understanding that the order may be
reopened when it appears that the reasons for allowing the increase no
longer exist.
The co. had applied for a 10-cent fare.
V. 107, p. 2008.
8TOCK AND BONDS—
Date.
Interest.
1914
5 A-O
£&eet Ra»way 1st M)
tf /
,$175,000
2nd M $75.000tf-Cayuga Lake El Ry 1st M.tf
*
Outstanding.
Maturity.
*$400,000
*488.000
Apr
1
1964
Columbia Trust Co., N. Y., trustee.
1892
6 J-J
175,000 July 1 1922
Int. at Farmers Loan & Tr Co.. N. Y.
1894
6 J-J
75.000
1894
6 J-D
25,000
All owned by the Central N. Y. Southern RR. Corp,
July 1 1922
June 1 1922
Bonds.—Of the 1st & ref. mtge. 5s, $488,000 are issued and are all owned
by the Cent. N. Y. So.
Remaining bonds are reserved for future require¬
ments, including the retirement of the three underlying prior lien as above
EARNINGS.—For years ending Dec. 31:
Dec. 31
Year—
1918
1917
1916--
Net (after
Other
Bond
Other
Taxes).
Income.
Interest.
Deduc.
196,577
42.35S
$1,102
$40,900
1,125
1,144
40,900
38,819
ROAD.—Owns and operates 11.47 miles of track.
and 3 other cars.
Rails, 80-lb. "T."
Balance
$4,152
2,153
2,029
Surplus
def.$52,797
def.31,623
sur.
2,653
Owns 29 motor cars
OFFICERS.—Pres., R. B. Williams, Ithaca, N. Y:; 1st V.-P., & Gen.
Coun., Chas. E. Hotchkiss, 34 Nassau St., N. Y.; 2d V.-P. & Gen. Mgr.,
J. O. Nelson, Syracuse; Sec. & Treas., S. C. Stivers. N. Y.—V. 107, p.2008.
light
Sale.—On June
24
&
traction
co.
1919 the co.'s property was sold to
the
American
Public Utilities Co., for the nominal sum of $5,000, subject to all liens, &c.
are informed that "the city authorities have granted the new owners
eminently satisfactory franchises under which the net earnings will without
Compare V. 109, p. 371 and V. 108, p. 2241.
1390, 1060On May 26 1920 the road was to have been sold at public
$72,364
72,982
41,029
18 passenger cars,
JACKSON, TENN.
JACKSON
RAILWAY
|
LIGHT CO.
&
ORGANIZATION.—Incorporated in Tennessee in July 1906, and is suc¬
cessor to the Jackson & Suburban Street Railroad Co.
Franchises expire
Does lighting and power business in addition to street
1963.
n
STOCK AND
BONDS—
Interest.
Date.
railway.
Maturity.
Outstanding.
$300,000
Preferred 6% cum
250,000
First mtge $600,000 ($1,000)1 1906
5 g J-J
494,000
Jan 1 1937
No s f.
Redeem at 105-_c/Fidelity & Columbia Tr. Co., Louisville, Tr.
Stock and Bonds.—$150,000 com. and $106,000 bds. are held In treasury.
Common $450,000
Q-F
($100)
""EARNINGS.—For
cal. year 1919, gross, $188,648;
In 1918, gross, $142,591; net, $40,047.
$50,931.
net,
after taxes,
72 and 50-lb. T rails.
ROAD.—Operates 7H miles of track.
V.-P. & Gen. Mgr., S. S. Bush;
& Columbia Trust Co.. all of Louis¬
OFFICERS.—Pres., C. E. Claggett;
Sec., Geo. W. Lewis; Treas., Fidelity
ville, Ky.—V. 83. p. 95.
JACKSONVILLE, FLA.
JACKSONVILLE
TRACTION
CO.—Trolley.
Receivership.—On Oct. 30 1919 E. J. Triay was appointed receiver for the
following the refusal of the public, through referendum vote, to
permit the company to increase fares from 5 cents.
V. 109, p. 1700.
company,
Receiver's
Certificates.—In
1920
Aug.
the receiver
U. S. Dist. Court to issue $143,690 of receiver's certifs.,
was auth. by the
proceeds to be used
State and county taxes and to meet the cost of street paving.
Ill, p. 692.
to pay
V.
a
pany.
Railway franchise expires in 1932.
iness in Jacksonville.
$350,000 com. stock
On
Feb. 28
Does entire electric railway bus¬
is held by Pub. Serv. Invest. Co.
1914 shareholders authorized $500,000 additional pref. and
additional common, making $1,000,000 pref. and $1,500,000
V. 98, p
763, 690, 611.
being unable to refinance the $750,000 6% notes due Mar. 1 1919,
the following
protective committee was formed and has issued a call
for the deposit of these notes.
A sufficient majority of the noteholders
have assented to the deposit agreement to insure the success of this measure.
V. 108. p. 1274.
In April 1920 we were informed that over 95% of the
notes had been deposited.
Committee
for
2-Year 6% Notes.—Allan Forbes,
Stedman Buttrick,
Orrin G. Wood. Ecfwin S. Webster.
Depositary, State Street Trust Co.,
$500,000
common.
The
co.
Boston, Mass.
V. 108, p. 1275.
STOCK AND
BONDS—
Date.
Interest.
Outstanding.
Maturity.
$1,500,000 ($100)
$1,000,000
See text
6% cum $1,000,000($100) -—
6 Q-F
500.000
See text
First consol mtge $5,000,0001
1911
5 M-S
884,500 Mar. 1 1931
($500 and $1,000)
c*tf/lnt. at State Street Trust Co., Boston, Trus.
Jacksonv
Elec
1st
M
(as-\ 1902
5 g M-N
1,245,000 May 1 1927
Common
Pref
American Trust Co., Boston, Trustee.
6 M-S
750.000 Mar 1 1919
at State St. Trust Co.. Boston, Trustee.
sumed) gold($l,000)c*_ntf|lnt. at
2-year coupon notes $1,000,-1
1917
000 g ($500 & $1.000) .,c*/lnt.
Notes payable June 30 1919__
298,000
Stock.—$100,000 common stock not reported outstanding held In treasury.
Non-taxable in Massachusetts.
Bonds.—Of the 1st consol. bonds, $1,245,000 are reserved to retire Jack¬
sonville
Elec.
1st
M.
and
$2,667,000
are
for
additions
and
Improve¬
80% of cost.
Subject to call on any int. date as a whole or in part
sinking fund at 105 and int.
Future issues of these bonds may bear
interest at a lower rate than 5% if so determined by the directors.
Sinking
ments at
for
1% per annum of bonds out began Mar. 1 1917. V. 92, p. 1564.
$34,500 in sinking fund canceled and $169,000 in treasury.
Jacksonville
Elec. Co. bonds are subject to call as a whole at 105 and interest on any
date.
A sinking fund of 1% annually of bonds out commenced
1 1907, which may be used for extensions and improvements or In
purchase of bonds.
$5,000 bonds have been canceled.
The coupon notes
are callable as a whole at 100 and interest on 30 days' notice.
Dividends.—Paid 1/4% quar. on pref. to May 1915: in Aug. '15 paid % %
and same rate quar. to and incl. Nov. 1916. Feb. 1917 div. passed. (V. 104,
p. 361). None since. On old Electric Co. com. 6% ann. from Aug. 1 1905 to
Aug. 1 1910, when rate was Increased to 7% and same amount paid to
Feb. 1911.
On new Traction Co. com. Initial div.—1'4%—paid in May
1911; same rate auar. to and Including Nov. 1914.
None slnc6
Interest
May
1919
We
doubt be largely increased."
Surplus.
$44,490
44.490
45,485
EARNINGS.—For 12 months ending June 30 (no later published):
Year—
Cross.
Net [aft. Tax.)
Interest. Sk., &c., Fds. Surplus.
$1,025,601
$152,265
$177,139
def.$24,874
1918
781,551
241,029
170,427
70,602
JACKSON, MISS.
jackson
Interest.
fund,
Oper'g
Revenue.
$224,664 df.$8,847
196,066
10,306
Brooks
re-lncorporatlon In Mass. in March 1911 (V.92,
p. 881) of the Jacksonville Elec. Co.. which was a consolidation of the Jack*
sonville St. Ry. Co., the Main St. RR. Co. and the Jacksonville Elec. Lt.CoStock of old company was exchanged, share for share, for stock of new com¬
In Jan.
Capital stock, $1,000,000
lst&ref M $2,000,000, g. redf
any int date at par&intc*tf {
of P. W
1060, 1390, 2241; V. 109, p. 173, 371; V. 110, p. 1849, 1973.
ORGANIZATION.—Is
ithaca traction
Dec. 31:
Net.
$116,854
117,472
86,514
Standard gauge.
ROAD.—Owns 14 miles of track.
—V. 108, p.
bonds out began
94, p. 1566.
See V
Co., Inc.
int. date.
OFFICERS.—Pres., L. E. Myers; V.-P., G. W. Hamilton; Sec., R. E.
McKee; Treas., O. E. McCorrnick, Chicago, 111.
Chief operating office,
72 West Adams St., Chicago, 111.
General office, Ishpeming, Mich.
under cer¬
fund) on
Bonds.—Remaining bonds are for impts.. add'ns and extens.
Middle
.
FIOAD.—Operates 64.1 miles of equivalent single track.
Gauge 5 feet.
Power plant capacity, 3,200 k. w.
Has 118
cars.
OFFICERS.—Pres., Geo. J. Baldwin, N. Y.; V.-Ps.f Chas.F.W.Wetterer
and Harry H. Hunt; Treas., Henry B. Sawyer; Clerk, Geo. A. Peirce; Mgr.,
Hardy Cr«om, Jacksonville, Fla.; Gen. Mgrs., Stone & Webster Mgt.
Assn., Boston—(V. 108, p. 1275; Y. 109, p. 1700; V. Ill, p. 692.)
Oct
19 8
.
1920 j
ELECTRIC
jamestown, n. y.
JAMESTOWN
STREET
STOCK AND
BONDS—
($1,000)
19
Date.
gold!
1893
311919
runs
till 1982
Interest.
c*flnt. at
Current liabilities Dec
Outstanding.
Maturity
$250,000
6 g J-J
300,000
Jan 2 1923
Guaranty Trust Co., N. Y., Trustee.
1,721,156
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
1919
....
Net.
$313,804
444,913
Oth.Inc.
$34,630
$28,794
28,368
32,186
Chgs.&Taxes.
Balance.
$131,679
def.$68,255
124,745
def.64,200
ROAD.—Owns 26.545 miles of track, 61 cars, 2 sweepers.
OFFICERS.—Pres., A. N. Broadhead; Sec. & Treas., S. B. Broadbead; Gen. Mgr., G. E. Maltby, all of Jamestown.
CHAUTAUQUA
~COv—A
TRACTION
trolley road.
ORGANIZATION.—Incorporated in New York
controlled
by the
same
interests
STOCK AND BONDS—
Stock $500,000 ($100)
the Jamestown
as
Date.
on
March 7
Street
1903.
Is
Ry.
Interest.
Outstanding.
Maturity.
$500,000
First
mtge.
$600,000, gold! 1904
5 g A-O
600,000 April 1 1934
($1,000)
cflnfc at Title Guar. & Tr. Co.. N. Y., Trustee
Current liabilities Dec. 311919
717,516
Bonds.—No sinking fund and are not subject to call.
EARNINGS.—For year ending Dec. 31:
.
Year—
Gross.
Net.
Oth.Inc. Chgs.&Tax.
Deficit.
$154,648
def.$4,258
$77,534
$81,792
132,265
14.386
i
75,965
61.579
ROAD.—Operates 26.73 miles of track from Lake wood, where connec¬
tion is made with the Jamestown St. Ry., to Mayville, there connecting
with the Pennsylvania RR., and wWestfield, N. Y.,connecting there with
the Lake Shore & Mich. So. and the N. Y. Chicago & St. Louis Ry., and
from Westfield to Barcelona-ou-Lake Erie.
Standard gauge; 80-lb. T rai!OFFICERS.—Pres., A. N. Broadhead; V.-P., Wm. Broadhead; Treas.,
8. B. Broadhead; Sec.. W. R. Reynolds: Mgr.. Geo. E. Maltby
1918—.
jersey
PUBLIC
city, n.I j.
SERVICE CORPORATION.
Newark, N. J.*
See statement and map under
johnstown,
pa.
.
JOHNSTOWN TRACTION CO.—A trolley road.
ORGANIZATION.—Incorp. in Pennsylvania on Feb. 24 1910.
Was
Incorporated originally to take a lease for 18 years from Jan. 5 1910 of the
Johnstown Pass. Ry. from the American Rys. (Phila.).
In Jan. 1914 the
Johnstown Pass. Ry. and the Johnstown Trac. Co. were merged under the
title of the Johnstown
Traction Co., the American Rys. Co. having sold its
Interests.
Franchises perpetual.
I
Fare Increase.—Effective June 1 1920 cash fares were increased from
6 to 7 cents, tickets to be sold at 4 for 25 cents.
V. 110, p. 2568.
w
STOCK AND BONDS—
Date.
Common $1,000,000 par $50—
Interest.
Outstanding.
Maturity.
$875,000
Pf$ 1.000.000 7% cum ($100)
1,000,000
First & ref M $5,000,000 s fl 1913
5 g J-J
2,000,000 July 1 1943
($500, $1,000) golc
?old—c*ntf/Logan Trust Co., Philadelphia, Trustee.
JohnsPassRy conM,$800,000) 1899
4 g J-D
399,000 Dec 1 1929
g($ 1,000) red any intdayc*tf/lnt. at Guaranty Tr. Co., N. Y., Trustee.
Johns Pass Ry ref M $2,000,-1 1901
4 g J-D
1,601,000 Dec 1 1931
000 gold ($1,000)
c*ntf j Interest at Johnstown Trust Co., Trustee.
Bonds.—Of the first & ref. mtge. $2,000,000 are reserved to retire Johns¬
town Pass. Ry. 4s;
the remainder ($1,000,000) reserved for future exten¬
sions, &c.
Red. at 102 and int.
Sinking fund of 1% annually began Oct. 1
1917.
Of the Johnstown Pass. mtge. of 1901, entire issue may be called
at any time at 105 upon six weeks' notice.
EARNINGS.—For years ending Dec. 31;
j:
Year—
t
Gross.
Net {aft. Tax.). Bond Int.
Surplus.
1917
$802,287
$303,657
$180,971
$122,686
1916
772.219
360.424
180.000
180,424
ROAD, &C.—Owns and operates under perpetual charter and franchise
the entire street railway system of Johnstown, Pa., and vicinity.
Total
trackage, 43 miles.
____t
_
OFFICERS.—Pres., E. M. du Pont.—V. 109,
p.
61
receives 6% cumulative, any balance of Missouri earnings, after the appli¬
earnings to additions and extensions, to be
and one-third to the company.
The city
having no interest in Kansas earnings, the income from operation of the
Kansas property belongs entirely to the company.
Not less than 16%
cation of $6,148,807 of surplus
credited two-thirds to the city
RAILWAY.—Trolley.
ORGANIZATION.—Incorporated Oct. 18 1883. Franchise
Stock 8250,000 (par $50)
First mortgage $300,000
RAILWAYS
1079; V. 110, p. 2568.
or gross earnings must be applied to'maint., renewals, deprec'n, &c., and
not less than 4% to damage claims.
Fares (unless reduced at expense of
city's share of surplus income)
for children between 8 and 12
are fixed at 5 cents for adults and 2 H
cents
(but see below).
The city has the right to
purchase the property in Missouri at or before the end of the 30-year period
on the basis of aforesaid valuation and
subsequent additions.
Operation
of the properties to be under the supervision of a Board of Control, con¬
sisting of Philip J. Kealy for the Railways Co. and Robert P. Woods for
the city.
City also nominates 5 of the 11 directors.
See franchise ordin¬
ance in detail in V. 99. P- 196, and also V. 99,
p. 119.
Freight Service.—Operates an express and freight service between Kansas
City and Independence. Mo., and Dodson, Mo.
See also V. 107, p. 905.
Wage Increases.—V. 107, p. 402. 1837; V. 109, p. 1461; V. 110, p. 2292.
Service at Cost Plan Proposed.—See V. 110, p. 1289.
Fares, &c.—On June 2 1918 was auth. by the Mo. P. S. Comm. to.
increase fares from 5 cents to 6 cents, effective July 15 1918 for one yearOn Sept. 7 191S Chief Justice Bond in the Missouri Supreme Court over¬
ruled the action of Circuit Judge John G. Slate (who refused to permit the
co. to file a supersedeas bond in the 6-cent fare case, thus giving the
city a
5-cent fare,) and auth. the co. to continue charging a 6-cent fare, pending
final'decision by the State Supreme Court.
V. 107, p. 1192.
This decision
was handed down on Dec. 31.1918 and upheld the ruling of the Mo. P. S.
Comm.
V. 108,-p. 171,
The city appealed to the U. S. Supreme Court,
but on Nov. 10 1919, that court upheld the ruling"of the lower court.
V. 109, p. 1891.
On July 11 1919 the Mo. P. S. Comm. auth. the co. to
continue the 6-cent fare, pending investigation by the Comm.
of the cos.
application for auth. to charge a 10-cent fare with tickets at 2 for 15 cents.
V. 109, p. 270.
On Aug. 4 1919 the Mo. P. S. Comm. auth. the co. to
increase fares from 6 to 8 cents, tickets to be sold at 2 for 15 cents, 7 for 50
cents and 50 for $3 50, these rates to continue in effect for one year from
Aug. 20 1919.
V. 109, p. 577.
For modification of this order see V. 109,
p. 2357.
Effective Jan. 2 1920, Federal Judge John C. Pollock auth. an
increase in fares in Kansas City, Kan., from 6 to 8 cents.
The order
restrains the Kansas P. U. Comm. from enforcing its 6-cent fare order and
enjoins interference with the collection of 8-cent fares.
V. 110, p. 167.
The Kan. P. U. Comm. has appealed to the U. S. Supreme Court.
In April 1920 the Mo. P. S. Comm. denied theco's. application for auth.
to increase fares from 5 to 8 cents in Independence.
Auth. to increase
fares to 10 cents between Kansas City and Independence was
granted,
effective April 1 1920.
V. 110, p. 1526.
In Dec. 1917 issued $1,000,000 6% 2-year coll. notes for expenditures
already made or to be made for improvements, extensions, &c.
In Feb. 1918 the Mo. P. S. Comm. auth. the co. to issue $1,151,830 addi¬
tional capital stock, representing improvements made since May 1 1915.
Up to April 12 1920 this had not been issued
In July 1918 issued $7,750,000 3-year coll. 7% notes to retire the $6,259,000 3-year notes due July 1 1918, and to pay in part for improvements,
extensions, &c.
V, 107, p. 181.
On Aug. 27 1919, Eastern bankers loaned the co. $1,000,000 on the
personal endorsement of J. Ogden Armour.
The $1,000,000 6% ser. "A" coll. notes due Dec. 1 1919 were not paid
when due, nor has any int. been paid on same since June 1 1919.
V. Ill,
p. 1278.
Interest Payments.—The July 1 1919 int. on the co s. 1st and 2nd mtge.
bonds was paid Aug. 28 1919.
V. 109, p. 982.
Compare V. 109, p. 173.
Subsequent int. not paid when due.
The int. due Nov. 15 on the co's.'
3-yr. 7% notes having been defaulted and in view of the fact that further
defaults were impending, the following committee was formed to protect
the interests of holders of all the co's. bonds and notes and has called for
deposits.
V. 109, p. 1986.
General Protective Committee.—Chairman, Arthur Reynolds; Vice-Chairman, H. L. Stuart; Alfred L. Aiken, John E. Blount Jr., J. F. Downing,
Frederick H. Ecker, Geo. J. Johnson, E. V. R. Thayer, Melvin A. Traylor;
Secy., Harry Benner, 209 South La Salle St., Chicago, 111.
V. 110, p. 2568.
Depositories for ls( M. Bonds.—First Trust & Savs. Bk., Chicago, 111,;
Chase Nat'l Bank, N. Y.; Penna. Co. for Insce. of L. & Gr. Annuities,
Phila., Pa.; Old Colony Trust Co., Boston, Mass.; First Nat'l Bank, Kansas
City, Mo.
Depositories for 3-Yr. and 2-Yr. Coll. Notes.—Contl. & Comml. Trust
& Sav. Bank, Chicago, 111.; Chase Natl. Bank, N. Y.; Penna. Co. for Insce.
of L. & Gr. Annuities, Phila., Pa.; Old Colony Trust Co., Boston, Mass.;
New England Nat'l Bank, Kansas City, Mo.
Depositories for 2d Mtge. Bonds.—Merchants Loan & Trust Co., Chicago,
111.; New York Trust Co., N. Y.; Natibnal Shawmut Bank, Boston, Mass.;
V. 109, p. 1986.
Commerce Trust Co., Kansas City, Mo.
JOLIET, ILL..
STOCK AND BONDS—
JOLIET & EASTERN TRACTION CO.
Date.
Interest.
Outstanding.
Maturity.
A-0
1
See text
See text.
1915
5 g J-J
$15,917,400 July 7 1944
1915
6 J-J
3,924,000 July 7 1944
do ($1,000,000) Series B—(
1915
5 J-J
1,000,000 July 7 1944
Redeemable at 103 and int. (New York Trust Co., N. Y., trustee.
Coll gold notes Ser "A" ($100,1 1917
6 g J-D
1,000,000 Dec 11919
$500 and $1,000)
c*.tf| 1918
7 g M-N15 7,750,000 May 15 *21
(Continental Tr. & S. Bk., Chicago, trustee.
"Birney Safety" Equip, tr. I 1920
6 g J-J 15
114,000
See text,
certifs.
Trust No. 5, Ser-jFidelity Trust Co., Phila., Pa., trustee.
ies "A" g. ($1,000)
*(
c*l
Series "B" certificates
1920
56,000
See text.
Deferred injury & dam'ge ctfs. 1915
See text
117,261 July 1 1944
Mtged notes on purch'd prop.. 1918
5 & 6%
26,250July 15 1920
Capital stock
ORGANIZATION.—This company,
Incorp. In 1914 in Illinois, repre¬
sents the reorganized portion of the Joliet & Southern Trac. Co., operating
between Joliet and Chicago Heights.
This property was appraised by the
Illinois P. U. Comm., which authorized stock to be issued to the amount of
$269,000 and additional $31,000 for cash received.
There is outstanding
$300,000 capital stock.
No bonds.
EARNINGS.—For year ending Dec. 31 1919, gross, $80,480; 1918,
gross, $61,755.
ROAD.—Total length of all track, 25 miles, extending from Joliet to
Chicago Heights.
60-lb. T rail; standard gauge.
OFFICERS.—Pres., Joy Morton, Chic.; Vl-P., Robt. T. Kelly. Joliet;
Sec., E. H. Stearns, Chic.; Treas., Daniel Peterkin. Chic.; Gen. Mgr.,
F. O. Eckmann, Joliet.—V. 99, p. 1832; V. 107, p. 1385.
gold.
c*&r*cpt
2d M ($4,291,000) Series A—f
1st
mtge
to Nov. 2.5'23
AURORA PLAINFIELD & JOLIET RR.
This Is the division of the former Joliet & Southern Traction, extending
from Joliet to Aurora, 20 miles, and 2 miles of track in Joliet, purchased by
the bondholders' committee at foreclosure sale in Feb. 1914.
Was known
the Aurora Plainfield & Joliet Ry. up to Oct. 1 1920, when the property
purchased by the present co.
V. Ill, p. 1565.
Capital stock, com.,
$266,000; pref., $266,000.
1st Mtge. bonds, $225,000.
Total revenues for
the year ended Dec. 31 1919, $143,218; net, $45,300.
For the division < f the
as
was
old Joliet & Southern Trac. Co., extending from Joliet to Chicago
see Joliet & Eastern Traction Co. above.
Pres., F. K. Shrader,
Heights,
Chicago;
Gen. Mgr., R. A. Moore.—V. Ill, p. 1565.
BLOOMINGTON PONTI AC & JOLIET ELEC. RY.—A trolley road.
Private right of way except
ORGANIZATION.—Incorporated in 1903.
In cities, where franchises run 50 years.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$2,500,000 ($100)
$95,500
$2,500,000 g\ 1905
5 g M-S
300,300 Sept 1 1935
($10J, $500 and $1,000)— flnt. at Cont. & Comm. Tr. & S. B., G> Ic.,Tr.
Int. on bonds is guar, from Mar. 1 1916 by the Pub. Serv. Co. of Nor. II)
Stock
First mortgage
EARNINGS.—For
year ending Dec. 31 1916, gross, $25,756; net (after
loss, $1,201.
In 1915, gross, $24,441; net, (after taxes
of $1,698), loss, $31.
OFFICERS.—Pres., Frank J? Baker; V.-P., Chas. A. Munroe: Sec.Paul D. Sexton; Treas.. John H. Gulick, all of 72 W. Adams St.,
Chicago,
ill.
Office at Pontlac, 111.—V. 85, p. 1004; V. 90, p. 235; V. 98. p. 651.
fcaxes
of $1,680),
kansas
KANSAS
CITY
city, mo.
RAILWAYS.
Receivership.—On Sept. 9 1920 Judge Stone in the Federal Court of Ap¬
peals at Kansas City, Mo., appointed Frank C. Niles temporary receiver
for the co. on application of the Kansas City Refining Co.
V. Ill, p.
1083,1278,1472,1566.
ORGANIZATION.—Organized under Missouri laws June 6 1914 and
Feb. 15 1916 took over the properties of the Metropolitan Street
Ry
City Elevated Ry. and Kansas City & Wastport Belt Ry. in ac¬
cordance with the plan of reorganization of the Kansas
City Ry. & Light
on
Kansas
Co. In V. 101, p. 614, 689. 1628.
Owns and operates entire street rail¬
way system serving Kansas City and Independence, Mo., Kansas
City and
Rosedale, Kan., and Jackson County, Mo.; population served, over 450 000
Franchise Ordinance, &c.—The
exclusive
30-year franchise granted
by Kansas City July 7 1914 fixed the capital value of the
property in
Missouri at $25,648,806, plus capital additions after June 1 1913.
(Val¬
uation placed on properties in Missouri and Kansas as of Dec.
31
191Q
$36,523,250).
On the Missouri capital value, $30,717,381, the
company
Stock.—The capital stock, fully paid
up,
and is
Is in the nominal
sum of $100,000
represented by 62.716.7 preferred and 63,620.5 common parts of no
par value.
Trustees for the stock are Robert J. Dunham, Charles W.
Armour and Charles N. Black.
It is provided that whenever a corporation
can be lawfully formed with pref. and com. shares of no specified par value,
with authority to take over the stock of another corporation as its assets,
the trustees shall cause one to be organized and shall turn over to it the stock
in their custody, the beneficial certificates to be canceled and replaced
by
pref. and com. shares.
Notes.—The 3-year notes are secured by $10,651,000 1st M. bonds, of
which $8,076,000 were originally issued as 5% bonds, but upon which the
co. pays an additional
1%; the remaining $2,575,000 were issued as 6s,
The former are pledged at 75% and the latter at 82%.
Additional notes
only upon pledge of additional 1st M. 6%s in these ratios,
option, upon pledge of 1st M. 5s at 70%.
Red. all or in
part upon 30 days' notice at 100and int. prior to Nov. 15 1920 and at
100 and int. thereafter.
Tax refund in Penn.
The 2-year coll. notes out¬
standing are secured by $1,219,600 6% 1st M. bonds.
Red., all or part,
upon 30 days' notice at 100 and int.
Int. on both payable in N. Y. or
Chicago without deduction of normal Federal income tax of 2%.
V. 105,
may be Issued
or at the co.'s
p.
2543;V. 107, p. 181.
First Mortgage Bonds.—Of the 1st M. bonds outstanding, $10,150,200
issued under plan in retirement of securities of predecessor cos., and
were
$5,767,200 to provide for receiver's certfs., cash requirements of reorgani¬
zation, for retirement of the company's 3-year notes and for improvements.
$8,076,000 1st M. 5% bonds (upon which the co. covenants to pay an addi¬
tional 1% per annum) and $2,575,000 1st M. 6% bonds are pledged as
security for the 3-year notes and $1,219,600 1st M. 6% bonds for the 2-year
notes.
$55,000 are in treasury.
Additional bonds may be issued for new
construe., add'ns, ext., &c. (in Missouri only on certificate of Board of
Control), in the ratio of $1,000 of bonds for each $1,100 expended.
De¬
nominations: c* $1,000, $500, $100; r*, $1,000 $5,000 and $10,000. Interest
payable in New York, Chicago or Kansas City.
Callable as a whole or
in part at 103 and int. on any int. date on 60 days' notice. Tmstee, Cont. &
Comm. Trust & Savings Bank, Chicago.
See V. 102, p. 2254.
Second Mortgage Bonds.—A sinking fund of $105,820 per annum, which
began Jan. 1 1916, is expected to retire issue by maturity.
$366,400 in
sinking fund and $600 in treasury (not included in amount reported out¬
standing) as of March 1 1920.
Equip. Trust Certifs.—Series "A" mature $29,000 July 15 1921, $28,000
Jan. 15 1922, $29,000 July 15 1922 and $28,000 Dec. 15 1922.
Red. at
100 & divs. on any int. date on 10 day's notice.
Are secured by assign¬
ments of leases covering 40 Birney One-Man safety cars, for which purpose
money notes aggregating $187,082 of the Kansas City Rys. Co.. to which
negating
these cars are leased, have been deposited.
This issue of certifs. repi
represents
about 50% of the selling prices of these cars, the balance having been paid
n cash and by an issue of $56,000 Ser. "B" certifs. maturing in monthly
nstallments from Feb. 15 1920 to Dec. 15 1920, both incl.
V. 110, p. 465,
ELECTRIC
62
Deferred Injury and Damage Certificates.—Issued at par In exchange for
id claims Inferior to old bonds but superior to the stock, for
approved claii
no other provision was made in plan.
Callable at par.
Bear 6%
Interest, cumulative, payable only out of net earnings.
Not a lien on physi¬
cal property, but status, as against owners of the stock. Is substantially
all
which
similar to that of a preferred stock.
paid Oct.
1
1916.
dividend omitted.
In
106,
V.
REPORT.—For year ending June 30
Years ending June 30—
Revenue passengers
-
beneficial certificates
April 1918
1917, April, $2 50; Oct.. $2 50.
p. 1577.
None since.
1919 in V. 109, p. 2260.
1919.
1918.
,1917.
operating re venue...
Net, after taxes ... .
... .... - -def.$524,440
Jnt. on joint net oper. deficit........
Miscellaneousincome..............
32,511
65,848,171
$7,000,977
$1,635,763
$1,118,638
13,388
29,596
69,516,515
$7,408,019
$2,886,084
$2,412,934
.def .$505,317
$1,148,234
$2,449,419
34,342
def .$505,317
$1,148,234
$2,415,076
411,302
def.$505,317
$1,148,234
$2,003,774
def.$324,238
def.198,489
$1,003,139
127,743
17,352
$1,652,722
320,599
v
30,453
$1,148,234
$1,497,156
$2,003,774
$1,442,568
5,026
85,071
16,864
13,600
..51,815,940
$6,649,996
def .$8,980
.....
..
Net
._
Gross income
Int.
l
Mo. injury & damage
on
certifs..
Divisible income
City's
STOCK AND BONDS—
share
36",484
Sept.
1915
1
Net from Kansas properties....
Miscellaneous
17,411
.....
Company's
gross
def .$505,317
income
$1,709,547
Deductions—-Bond interest.
Kansas injuries and
in cash)
damages (paid
1,009
175,243
Other deductions
def.$2,391,115def.$439,010sur.$530,741
income.
Net
The total profit and loss deficit; June 30 1919, after deducting $131,368
appropriated for sinking fund, &c.t was $3,111,783.
PROPERTY.—Over 310.720 miles of single track equivalent, about 75%
ined
Eaved;capacity 60,000 k.'w.,and 13 sub-stations; 755 2 power houses, trail¬
remainder on bridges or private right-of-way; motor cars and com
ers
J.
/
in addition to work cars.
George S. Hovey, Frank Hagerman and P. W. Goebel, all of
City, Mo.
Representing the cfty: William T. Kemper, Frank C.
Davfs M. Rinkerton, John W. Wagner and John H. Wiles, all of
Kansas City, Mo.
J. A. Harder is Sec. & Treas. and Fred G. Buffe,
Gen. Mgr.—V. 108, p. 2120; V. 109, p. 173, 270, 371, 577, 982, 1273, 1461.
1891,1986, 2172, 2357, 2260; V. 110, p. 78, 167, 465, 764, 1289, 1526, 2292,
Kansas
Niles,
2568; V. Ill, p. 74, 1083, 1278, 1472, 1566.
KANSAS
CITY
POWER &
LIGHT CO.
ORGANIZATION.—Incorp. in Mo. June 27 1919, and permitted to
business as a foreign corporation under the laws of Kansas, Nov. 11
1919.
The co. under a reorganization, took over on Sept. 30 1019, all of
the properties of the Kansas City Light & Power Co. (see this section of
Nov. 15 1919) and the Standard Elec. Lt. Co. Electric lighting and power
franchises in Mo. are perpetual and in Kan. are perpetual outside of the city
of Rosedale, where franchises are limited to 20 years.
Steam heating
franchises in Mo. run for a period of 30 years.
The co. owns the entire
capital stock of the Edison Elec. L. & Pow. Co., the Standard Elec. Lfc.
Co., Consolidated Elec. Lt. & Pow. Co., the Electrical Wire Subway Co.,
Kansas City Heating Co., Kansas City Transmission Co. and The Electric
Truck Co.
Controls the electric lighting business in Kansas City, Mo. and
"
EARNINGS.—For years ending Dec. 31:
Cal. Yr.—
Gross.
Net. aft. Tax. Interest, &c..
-$1,041,965
843,529
1919
In 1917, a 25 acre site on the Missouri River was purchased, upon which
new plant of 60,000 k. w. capacity is now under construction.
Of thif>
capacity, 40,000 k. w. were in operation in Oct, 1920, and the balance
20,000 k. w,, will be in operation about Jan. 1921.
The ultimate capacity
of this plant is 300,000 k. w.
Date.
Interest.
Outstanding.
;
Maturity.
OFFICERS.—Chairman of Board & Pres., Allen G. Hoyt; V.-P. & Gen.
Mgr., R. P. Woods; Sec. & Treas., W. S. Tuley.—V. 105, p.
V. 106, p. 607; V. 110, p. 562, 1849; V. Ill, p. 1566.
from Bonner
EARNINGS.—For
cal. year 1919, gross, $4,561,098; net, $289,914;
$189,931; int., $429,320; misc. deduc., $41,966; balance,
Gross earnings for years ending Dec. 31: 1918, $3,305*470;
1917, $3,249,735; 1916, $2,904,700.
OFFICERS.—Pres., Joseph F. Porter; V.-P. & Gen. Mgr., Hugh C.
Blackwell; Sec., C. C. Smith.; Treas., R. J. Clark; Aud., H. C. Davis.—
V. 104/p. 1804; V. 105, p. 1214, 1526, 1713; V. 106, p. 825, 1581; V. 107,
p. 806; V. 110, p. 1854.,...
;
other
KAW VALLEY & WESTERN RAILWAY.
Springs to Lawrence, Kan., on June 1 1916; total miles track
Gauge, 4 ft. 8hi in.; 70-lb. T rail.
operated, 42.314.
$8,559.
7 passenger cars;
freight connection at Kansas City with C. R. I. & P. Ry., K. C.-S. Ry.
and K. C. Terminal Ry.
At Bonner Springs with U. P. RR. and A. T.
S. F.
&
Track connection at Lawrence with U* P. RR.
RR.
in Lawrence extends to 1946.
Kansas City Interurban Freight
& St. Joseph Ry.
Franchise
Terminal.—See Kan. City Clay County
below.
Fares.—The I.-S. C. Comm. in Sept. 1918
auth.
increase in passenger
an
mile.
V. 107, p. 1192.
On Oct. 28 1918 was auth.
freigh rates 25%.
Compare V. 106, p. 2649.
In March 1920
was authorized to" increase fares to 3 cents per mile with a minimum 10-cent
fare.
V.110, p. 1289.
fares to 2.6 cents per
to increase
Date.
Maturity.
Outstanding.
Interest.
Stock, $1,500,000 ($100)
—
$682,500
....
1st M $2,500,000 gold ($100)? 1914
6 g F-A
918,000
Aug 11924
$500
and
$1,000)
c*tf [Int. at First Tr. & Sav. Bk., Chicago, Trust.
General mtge. $812,500 gold f 1914
6 g F-A
528,500
Aug 11924
[Int. at Com. Tr. Co., Kan. City, Mo., Trus.
bonds for the construction of the
additional bonds may only be issued
and extensions,
and int. on any
Int. date on 60 days' notice.
The gen. mtg. bonds are limited to $12,500
per mile; callable at 101 and int.
V. 102, p. 1625; V. 104, p. 452.
Bonds.—The issuance of first
mtge.
road is limited to $20,000 per mile;
for 90% of cost of improvements, betterments, additions
under conservative restrictions.
Red., all or part, at 101
EARNINGS.—For calendar years:
Year—
Gross.
Ezp. <fe Taxes.
—$338,147
247,139
1919
1918
Net.
$106,098
75,114
$232,049
172,025
—
Surplus.
$30,048
def.937
Interest.
$76,050
76,050
OFFICERS.—Pres., K. D. Klemm, Kansas City, Mo.; V.-P., & Gen-
Mgr., W. R. Taylor, Bonner Springs, Kan.; Sec. & Treas., E. S. Bigelow;
Aud., L. H. Darrow.
Office, 919 Baltimore Ave., Kansas City. Mo.—
V. 105, p. 2184; V. 106, p. 2649; V. 107, p. 1192; V. 110, p. 561, 1289.
KANSAS CITY-WESTERN RaTlWAY.—A trolley road.
Formerly the Kansas-City-Leavenworth Railroad and name changed to
Has long-time franchises in territory served.
Kansas City-Western Ry.
*
Freight Terminal.—See K. C., Clay County & St. Joseph Ry. above.
Foreclosure Sale, &c.—Int. on the company's bonds having been de"
Trust Co., N. Y., trustee for the 1st & ref. 5s.
brought a foreclosure suit against the company.
As a result the bondhold¬
ers' committee named below purchased at foreclosure sale the Kansas City
Western Ry. and the Leavenworth Street Ry. for $250,000.
It is reported
faulted, the Guaranty
V, 110,
that the properties will be reorganized.
formation.
■
■
_
V.
White.
,
p.
No further in¬
970.
'
•
„
,
,
,
.
_
Committee.—Walton H. Holmes, P. W. Goebel and P. T.
Bondholders
110, p. 970.
W^-vV^'
STOCK AND BONDS—
Stock $2,000,000
Date.
($100)
Interest.
——
Outstanding.
$2,000,000
Maturity.
1905
5 g M-S
1,650,000 Sept I 1925
Interest at Guaranty Trust Go, New York,
1st ref mtge $5,000,000 gold
(coup
$1,000,
r
$1,000,
Trustee.
$5,000, $10,000)
—tf
Stock and Bonds.—$ 1 ?400,000 of bonds were Issued to refund a like amount
of bonds outstanding of old company, all but $42,000 of which have been
retired, $100,000 for general corporate purposes and $150,000 for improve¬
ments; remaining $3,350,000 to be issued for acquisitions, extensions and
Improvements under customary restrictions.
Entire
red. on any int. date at 105 and int.
V. 89, p. 1483.
REPORT.—For year ending June 30 1919,
Int.
taxes, $19,492;
on
bonds, &c., $83,459;
ROAD.—Owns and operates 43.75 miles
gross,
outstanding issue Is
$380,937; net, after
deficit, $63,066.
of road, of which about 18 miles
are within the city of Leavenworth and 25% miles between Ft. Leavenworth
and Kansas City, Kan. Enters Kansas City, Mo., over tracks of the Kansas
City Viaduct & Terminal Ry., which owns and operates a steel and con¬
crete viaduct connecting Kansas City, Kan., with Kansas City, Mo.
Has
second entrance into Kansas City over tracks of the Metropolitan Street Ry.
OFFICERS.—O. F. Holmes, Pres.; C. F. Hutchings, V.-P. and Gen. At¬
income,
surp.,
2184;
,
2 electric locomotives; 4 express and baggage, 8 box and 14 dump cars.
The road as projected will extend to Topeka, 26 miles beyond Lawrence.
Connection is made with the street railway system of Kansas City.
Direct
„„
Stock.—Auth., $20,000,000 (par $100); $10,000,000 fully paid, of which
$5,000,000 is treasury stock and $5,000,000 is deposited with John II.
Lucas, Thomas J. Connors and Oscar Fenley, trustees under trust agree¬
ment concerning the stock, of the Kansas City Light & Power Co.
The
capital stock deposited with the trustees is represented by 31,810.3 com.
and 31,358.3 pref. participating certifs. of no par value.
Bonds.—$4,617,000 Kansas City Light & Power Co. 1st M. bonds not
reported as outstanding are pledged under the Kansas City Power & Light
1st & coll. trust 7% notes.
These bonds bear interest at 6%.
Additional
1st M. bonds may be issued, with int. to be determined at time of issue, not
to exceed 6%, for extensions, add'ns & impts., on a fixed basis.
Red. at
103 and int.
A sinking fund on the 2d M. bonds of $38,346 per annum from
net earnings otherwise available for divs., which began Jan. 1 1916, is ex¬
pected to retire issue by maturity.
$221,340 in sinking fund.
1898
ORGANIZATION.—Incorp. in Kansas July 28 1909.
The line between
Kansas City and Bonner Springs was placed in operation July 20 1914, and
^
1919
7 g J-J 1
6,000,000
Jan 1 1921
lint, payable in New York and Chicago.
Kan City Light & Power Cot 1915
5 J-J
3,060,000
July 7 1944
1st mtge red at 103 and int. \Cont. & Comm. Tr. & S. Iik., Chic., trustee.
Kan City Li
Pow Co 2d mtge/ 1915
6 J-J
1,695,960 July 7 1944
$1,917,300red at par & int. [Central Trust Co., New York, trustee.
notes
Surplus.
$98,198
52,162
equipment, 24 cars, 5 exp. motorcars, 10 express trailers, 10 other cars and
1 American electric ditcher, 1 electric locomotive.
_
Stock (see text,)
First mtge & coll trust gold/
Dividends.
$110,000
110,000
$155,894
158,014
ROAD —Operates 52.55 miles between Kansas City and St. Joseph,
Mo., and 28.24 miles between Kansas City and Excelsior Springs, Mo.,
total
77.61 miles.
70 and 80-lb. T-rail; standard gauge.
Passenger
Johnson Counties, Kan., and
a
STOCK AND BONDS.—
$364,092
320,176
1918-——
do
furnishes electrical energy in Wyandotte and
furnishes steam heat to Kansas City, Mo.
Int. payable N. Y.
can
STOCK AND BONDS—
Armour,
ing, Kan. City, Trus.
Sept 1 1941
J. F. Down-
only be Issued for 80% of the cost of permanent additions and extensions, under conservative restrictions.
Sinking
fund of 1 Y>% of bonds certified, began Sept. 1 1917.
Dividenc
ids.- In 1914, 27A% paid; 1915, June. 1^%.
~
In 1916, 4H%.
In 1918, 2%%.
In 1917, 2%%.
In 1919, 23*%.
In 1920, June, 1%%.
(
DIRECTORS AND OFFICERS.—Representing the company; Robert
Dunham (Chairman), Chicago; Philip J. Kealy (Pres.), Charles W
Maturity.
See text
Outstanding.
—
cHfl
Unissued bonds
KANSAS CITY.
Company's share
...
Company's Income—
Net from Missouri properties
Interest.
Date.
-
109,273,316 131,791,497 137,394,143
carried—
Transfer passengers
Total operating revenue
[Vol. Ill
Stock com $10,000,000 ($100)
$4,000,000
1st mtge $10,000,000
5 g M-S
* 3.079.000
($l,-( 1911
000 gold s f red at 105 after]Equitable Tr. Co., N. Y., and
Bonds.
Dividends.—An initial dividend of S2 50 on the pref.
was
RAILWAYS
torney; S. D. Hutchings. Sec. and Treas.; J. G.
General office, Leavenworth, Kan.Bonar, Aud.
'
-
p.
-
~
*
"
'
—
Herrion, Supt.; W.M.
V. 109, p. 1461; V. 110,
167, 970.
MISSOURI & KANSAS INTERURB. RY—Known as
"Strang Line."
ORGANIZATION.—Incorporated in Kansas under Gen. RR. law.
In
KANSAS CITY CLAY COUNTY & ST. JOSEPH
RAILWAY CO.
1909 receiver appointed the previous year was discharged, and old company
resumed control.
V. 86, p. 1467; V. 89, p. 1281.
Motive power changed
On
verdict for $1,500.-
from Strang
July 5 1915 the Interstate Ry. Co. was awarded
a
000 against the company and the estate of George Townsend by a jury In
the Circuit Court in its suit alleging that the defendant company had
built Its line between Kansas City and St. Joseph on
way obtained by the plaintiff (V. 100, p. 130, 288).
stipulated agreement of settlement.
a
part of the right-ofCase reversed under
ORGANIZATION.—Incorp. In Missouri in 1911 under a 200-year char¬
ter.
In Jan. 1913 the line from Kansas City to Excelsior Springs, Mo., was
opened, and on May 5 1913 opened for operation its line between Kansas
City and St. Joseph, 52H miles.
V. 96, p. 1423.
Also handles freight.
In Dec. 1914 terminal service was begun to Kansas City for the Qulncy
Omaha & Kan. City RR. (C. B. & Q. system). See details In Y. 99. p. 1910.
Valuation.—On Oct. 24 1917 filed a request with the Mo. P. S. Comm.
for an addition of about $3,000,000 to its valuation of $3,900,000 fixed
3 years previous by the Commission,
be fixed for going value and for an additional amount for working capital,
&c.
V. 105, p. 1898.
On Jan. 15 1920 the P. S. Commission fixed the
value of all the property as of July 311917 at $4,800,000.
V. 110, p. 562.
Commutation Rates Ordered.—See V. 110, p. 562.
Compare, however,
Y. 100, p. 140.
Freight Terminal— The Kan. City Interurban Freight Term. Co. was in¬
corp. in Feb. 1917 to provide facilities in the city for handling interurban
freight and express matter.
Stock auth. and issued, $100,000; bonds auth.,
$100,000. of which $75,000 outstanding.
The stock of the co. is owned by
interests associated with the. Kansas City Clay County & St. Joseph Ry.
and the Kansas City Kaw Valley & Western Ry.
These cos. and the Kan¬
sas City Western Ry. and the Kansas City Lawrence & Topeka Ry. have
entered Into contracts for the use of the terminal and have guaranteed an
annua] tonnage of 31,000 tons.
The terminal was opened Oct. 10 1917.
Robt. P. Woods is Pres.; J. F. Holman, V.-Pres.; E. S. Bigelow, Sec. &
Treas.*
In Oct. 1920 the co. applied to the Mo. P. S. Comm. for auth. to re¬
classify its auth. capital stock of $10,000,000.
It is proposed to divide
this into $7,000,000 com. stock and $3,000,000 7%
cum. pref. stock.
V. Ill, p. 1566.
gasoline cars to electricity in 1908.
right of way about 80 feet wide from Kansas
V. 87, p. 614.
City to Olathe.
Has private
Financing.—On July 11.1919 was auth. by the Kansas P. U. Comm. to
Issue $500,000 1st mtge. 6% bonds and $300,000 2d mtge. bonds.
The new
securities will be used to refund the present 1st mtge. 5's and will provide
the co. with approximately $150,000 of new money for rehabilitation and
impts.
V. 109, p. 477.
STOCK AND BONDS—
$1,000,000 ($100)
$600,000
($1,000)
Stock
First mortgage
Interest.
Outstanding.
Maturity.
$1,000,000
5 g J-J
600,000 Jan 1 1956
c/Fidelity Trust Co., Kansas City, Trustee.
Date.
—
gold? 1906
EARNINGS.—For cal.
year
1916. gross, $115,049; net, $37,745.
In
1915, gross, $103,129; net, $38,721.
ROAD.—Operates 20 miles of road from Kansas City through Southrldge, Morrison Ridge, Milburn Place, Overland Park and Lenexa to Olathe.
Kansas City over tracks of the Kansas City Rys.
70-lb. rails.
Has 13 cars, Including passenger and freight.
Construction of a line from
Olathe to Ottawa, 26 miles, is under consideration.
Enters
OFFICERS.—Pres., W. B. Strang; V.-P., H. C. Brent; Sec. & Treas.,
Mgr., Thos. Riley.
General offices, Overland Park.
E. N. Daniels; Gen.
Kansas.—V. 87, p. 614; V. 89. p. 1281; V. 109. p. 477.
KENNEBUNK, ME.
ATLANTIC SHORE RAILWAY.
ORGANIZATION.—Incorporated In Maine on Jan. 1 1911 (per plan Id
V. 91, p. 869) as successor to the Atlantic Shore Line Ry. (sold at fore¬
closure Dec. 1 1910). which company was a consolidation in April 1906 of
the old Atlantic Shore Line Ry. and the Portsmouth Dover & York Street
Ry.
The former company in April 1904 purchased the Sanford & Cape
Porpoise Ry., the Mousam River RR. and the Sanford Power Co.
In June
1909 the Alfred Light & Power Co. was acquired.
Does a freight business.
Second & Gen. M. bonds were issued at 80 with 100% stock bonus.
OCT.| X920.J
ELECTRIC RAILWAYS
Default.—'The Initial obli
1915.
4% ref. M. bonds was d<
due on and After Oct. 1 1915
on
the $641,750
All other coupons
Receivers.—Pres. F. O. Oonant and Treas. Constant Southworth, both
of Portland, were appointed receivers by the U. S. Circuit Court, Portland.
V. 101, p. 1552.
Portsmouth Dover & York St. Ry.—On May 11917 W. G. Meloon, Ports¬
mouth, N. H., was appointed separate receiver and manager of this co.
The property comprises 42 m. of track connecting Portsmouth and Klttery
with Dover and South Berwick, including a line
tp York Beach.
Fares.—On Aug. 181917 was auth. by the Maine P. U. Comm. to increase
the number of its fare zones by three.
In June 1918 filed with the Main
P. U. Comm. a new fare schedule, effective July 7 1918, providing for an
Increase in passenger fares from 6 to 7 cents (except in the zone between
Stanford and Springfield where a reduction from 6 to 5 cents was made).
The, schedule also provided for
an increase in the price of strip tickets,
having 9 coupons; from 50 to 55 cents.
V. 106, p. 2648.
Effective June 1
1919 fares were increased to 8 cents cash with strip tickets (7 coupons) at
50 cents.
STOCK AND BONDS—
Stock SI,000,000 ($100)
Date.
Interest.
—
Gen lien-M $150,000 red atl
102 and interest
—../
Refund mtge $2,600,000-Atl Sh Line lstcons M $1,000,-J
1911
5 J-J
Outstanding.
futurity.
$1,000,000
150,000 Jan. 1 1931
See text
1910
641.750 Jan. 1 1941
1904
5 g A-O
361,500 April 1 1934
OOOg ($500, $1,000) c*-cptllnt. at Columbia Tr. Co., N. Y., trustee.
Atl Sh Line 1st MS125,000 cpt 1904
5 J-J
120,000 Jan, 1 1924
Alf Lt & P 1st M $250,000/ 1905
If 1905
5 g J-J
250.000 July 1 1936
($500 and $1,000*
_cpt\lnt. at Columbia Tr. Co., N. Y., trustee.
Sanf«&CapePorp*se 1st M-cpt 1898
5 J-J
246,000 Jan. 11928
Mousam River 1st mortgage.- 1892
6 J-D
59,000
See text
Portsmouth Dover & York St. Ry.—Under Separate Receiver.—
P D & Y 1st M $650,000/ 19034H J-D
450,000 June
1923
gold ($1,000)
-1 State Street Trust Co., Boston, trustee.
electric railway and electric lighting business in Hamilton and Warsaw,
and operates an interurban electric railway between Keokuk, Hamilton
Warsaw (largely on leased lines).
Franchises.—See Cent.
Y
&
2d
M
and
P K & Y St Ry 1st M
Interest.
—
-
....
—
Bonds.—The Keokuk Elec. Ry. & Power first mtge. 5s are due serially
1920 to 1925.
Red. any int. day at 105 and int. $101,000 canceled.
The
5~yr. 1st & Ref. bonds were issued to pay off $150,000 Keokuk Gas Lt. &
Coke 1st M. 5s due Jan. 15 1918.
$18,000 are reserved to retire underly¬
ing bonds.
Are red. as a whole on any int. date at 102 and Int.
Emile
K. Boiset of Chicago is also trustee.
Dividends.—-Divs. on pref. have been paid since organization.
Initial
div.oncom.—2%—paid fn Feb. 1914; May, 1*4%' Aug., 2% (V.99.P.467);
Nov., 2%.
In 1915 and 1916, 6%.
In 1917, 5%.
None since.
EARNINGS.—For years ending June 30;
Year—
Gross.
Net{aft.Tax.) Int. &c. Sink.Fund.
1919-20——1336,911
——
OFFICERS.—Pres.. Harry T. Edgar;
V.-P.,
Geo. Higginson Jr.; Sec.
Webster
73; y. 99. p. 467; V. 106, p. 396.
Victor D. Vickery; Treas., Henry D. Sawyer; Gen. Mgrs., Stone &
Mgt. Assn.—\
.
97,
p.
x583, i898; V. 98,
p.
KEWANEE, ILL.
1897
6 g M-S
200.000 Mar. 1 1917
$1,000)—\lnt. at Waterville, Me., Tr. Co., trustee.
liens, $64,750 (int. rate 4%) are for impts. and
additions and remaining $641,750 are outstanding and were exchanged for
securities of Atlantic Shore Line Ry.
Outstanding bonds bear Int. at 4%,
which was payable for first 5 years only if earned.
No interest was earned
on these bonds during that
period.
The initial obligatory coupon falling
due Oct. 1 1915 was defaulted.
V. 101, p. 1464.
The Atlantic Shore
Line consols of 1904 are subject to call, ail or any part, after ten years
at 105, to be drawn by lot.
See V. 78, p. 2383.
The iAlfred Light &
Power bonds are subject to call at 105.
'
Mousan River bonds matured Dec. 1 1912, but have been extended.
York St. Ry.—The bonds of 1903 can be called at
105 and int.
The 2d 5s can be called at par on any int. date.
The 6s of
1897 can be called at 105.
'
KEWANEE ELECTRIC RY.
GALESBURO &
ORGANIZATION.—Incorporated May 1902.
Is
being raised from 18 for $1 to 4 for 25 cents.
to
sell 5 tickets for 35 cents.
On May 28 1920 the 111. P. U.
V. 110, p. 2657.
STOCK AND BONDS—
Date.
Common $200,000 ($100)
Pref $400,000 ($100) 6% cum-
EARNINGS.—For 12
Year—
Gross.
REPORT.—For calendar year:
Gross
Operating
1919
Net
All
Interest on
Earnings. Expenses. Earnings. Taxes. Bonds, Ac.
-—$184,106
$170,262
$13,844
$5,331
$80,895
171,638
151,045
20,593
5,915
80,895
231,757
198,440
33,317
6,182
92,595
-
1917
Balance
Deficit.
Interest.
—
Outstanding.
Note.—On May 1 1917 the Atlantic Shore Ry. Was divided east and west
Beach, Maine, the western end passing to the operating control of
the Portsmouth Dover & York St. Ry.
The figures from May 11917 on,
are for the Atlantic Shore Ry. as at present constituted.
OFFICERS.—Receivers. Frederick O. Conant and Constant Southworth
Mgr. for Receivers, 8. T. Dow.—V. 101,
p.
1464, 1552; V. 106, p. 2648.
Maturity.
$200,000
110,800
400,000 July 2 1920
—
——
*
—
—
-
($500 &\ 1906
5 g J-J
$1,000) gold
c&r/Int.atCont.&Oom.Tr.&Sav.Bk.,Chlc.,Tr.
Bonds.—Are red. on any int. day at par and int.
No s. f.
—
ending Dec. 31:
Net.
Deprec'n.
mos.
$103,017
80,881
1919__„1918—
Int. & Taxes.
$12,000
12,000
$24,352
17,392
Deficit.
$15,562
22,096
$27,914
27,488
ROAD.—Has city line in Kewanee and Wethersfield
and Interurban
Kewanee and Galva.
Total track operated 14 miles.
70-80-lb.
between
T and girder
rails.
Gauge 4 ft. 8K In.
>
H. Lyman; V.-P., F. M. Lay; Sec., W. P.
Lamb; Treas., J. H. Baethke; Gen. Mgr., R. H. Hayward.—V.110, p. 2657.
OFFICERS.—Pres.,
$72,382
66,217
65,460
of York
o
Comm. auth. the co. to raise the fares in these two cities to 8 cents cash and
ROAD.—Operates 37 miles of track, connecting Springvale, Sanford.
miles, was put in operation July 21 1907.
Total, 53 miles.
Owns 2
water-power plants and 1 steam plant with generating capacity of 3,000
k. w.
Has 22 passenger cars and 2 electric locomotives.
60 and 70-lb. rail.
reorganization
for $1 on city lines.
In Aug. 1919 was auth. by the III. P. U. Comm. to
Increase fares in Kewanee and Weatherfield from 6 to 7 cents, ticket fares,
First mtge $400,000
West Kennebunk, Xennebunk, Kennebunkport and Cape Porpoise with
BIddeford and Saco; thence over connecting lines to Old Orchard and Port¬
land.
See V. 81, p. 1549.
A link from York Beach to Kennebunk, 16
a
the Galesburg & Oneida Elec. Ry. Co.
Effective July 1 1918, was auth. by the 111. P. U. Comm. to increase fares
from 5 cents cash fare and 25 tickets for $1 to 6 cents cash fare and 18 tickets
Portsmouth Dover &
1918
Surplus,
$31,009
35,662
$59,814
$28,805
289,343
63,097
27,436
ROAD, &c.—- See Central Miss. Valley El. Properties above.
1918-19—---
1905
5 g J-D
57,000 April 1 1926
-lint, at Augusta, Me., Trust Co., trustee.
reserved to retire prior
Calendar
Year—
-
——
Stock .-^-Common stock is all owned by Cent! Miss. Vail. Elec. Properties.
Pref. stock in red. at 110.
Both classes of stock are non-taxable in Illinois.
$200,-f
Bonds.—Of the refund, bonds, $1,893,500 (int. rate not to exceed 5%
are
Properties above.
Outstanding*
Maturity»
Q-F
$650,000 Nov *17, IK
—
,
Q-F
250.000 Mar'20, IK
Keokuk El Ry & Pow 1st Ml 1901
5 J-J
149,000
See text
$250,000 (closed mtge)-ntf fOent. Trust Co. and H. E. Ambler, Trustees.
First & Ref. Mtge. $400,0001 1918
6 g J-J 15
150,000 Jan 15 1923
($100, $500 and $1-,000)../Into at First Tr. & S. Bk., Chicago, trustee.
Notes payable July 31 1920
178,500
extf
—
000 g ($500 and
Valley Elec.
Date.
111.,
and
-
-
D
$100,000
Miss.
STOCK AND BONDS—
Common $650,000 ($100)
Pref $250,000 ($100) 6% cum.
_
P
63
W.
KEYPORT, N. J.
JERSEY CENTRAL TRACTION CO.—Trolley.
Control.—The American Railways Co., which see under Philadelphia, Pa.,
all the common stock.
owns
ORGANIZATION.—A consolidation In May 1917 of the old Jersey
Traction Go, (see "Electric Ry." Sec. for May 1917) and the
Central
Central Jersey Traction Co. (incorp. Feb. 1 1917 to lease tbe property
franchises of the Jersey Central Traction Co.).
At the same time
and
the
Middlesex & Monmouth Electric Light, Heat & Power Co., which was
controlled by the Traction Co. through ownership of 442 of the 500 shares
KENNETT, PA.
WEST CHESTER KENNETT & WILMINGTON ELECTRIC RY.
ORGANIZATION.—Incorporated In Pennsylvania on May 24 1905,
a reorganization of a company of the same name sold under foreclosure
In April 1905.
On Feb. 26 1908 absorbed the formerly controlled Oxford
West Grove & Avondale St. Ry
See V. 86, p. 670.
and is
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$925,000$525,000
Pref ($75,000) 6% non-cum—
75,000
——_
First mtge $1,000,000
goldl 1905
5 g J-D
420,000 June 1 1935
($500 and $1,000) ——c.tf/Int. at Integrity Trust Co., Phila,, trustee
Common
——
-----
——
—
-
-
EARNINGS.—For year ending Dec. 31 1919- gross- $75 850; net
taxes
$7,947.
In 1918
gross
$63,588; net
after taxes
after
$1,758.
ROAD.—About 20 miles of track between West Grove, Avondale, Ken¬
nett
Square and Wilmington, connecting at Kennett for
West Chester.
The extension from Avondale to Oxford, 12K miles, has been completed as
far as West Grove and is in operation to that point.
Gauge, 5 ft. 234 in.
60 and 70-lb. T and girder
rail.
OFFICERS.—Pres., Geo, Kessler, Phila.; V.-P., Clarence L. Harper,
Phila.; Sec. & Treas., Philip E. Guckes, Phila.; Gen. Mgr., B. F. Wickersham, Kennett Square, Pa.—V. 94, p. $31; V. 95, p. 177.
VALLEY
ELECTRIC
PROPERTIES.
ORGANIZATION.—Formed in Illinois by a trust agreement dated
Dec. 12 1913, under which there are deposited with trustees all the common
stock of the Keokuk Electric Co, (see below) and all the capita! stocks of
Fort Madison Elec. Cp. and Dallas City Light Co,
These companies do
the entire electric railway, electric lighting, power and gas business
in
Keokuk, la., the entire electric lighting and power business in Fort
Madison, la., and Dallas City, III.,
the entire electric railway and
lighting business in Hamilton and Warsaw, 111., and operate an interurban electric railway between Keokuk, Hamilton and Warsaw (largely
on leased lines).
Franchises.—The electric railway and elec. lighting franchises in Keokuk
expire In 1936, the gas franchise in 1928.
The electric lighting franchise
in Hamilton expires in 1936; the important railway franchise in 1931.
The electric lighting franchises in Fort Madison and Dallas City expire
in
1938.
Stock, auth. and outstanding; Common, 7,500 shares (no par value)
6% cum, pref. stock (par $100—red. at 110), $750,000.
No bonds.
EARNINGS.—For years ending Dec. 31 (combined companies):
Year.
Gross.
Net {aft.Tax). Interest. Sink.Fund.
Surplus.
1919
-$424,475
$84,901
$29,765
—*55,135
1918—
339,076
79,485
29,245
50.240
Dividends.—An initial dividend of 1H% was paid on the pref. stock in
March 1914; same rate quar. to and incl. Sept. 1917.
None since.
-
—
ROAD.—Miles of equivalent single track, 7.99; trackage, 6.14; standard
16 passenger and 1 other.
All power is purchased from the
Mississippi River Power Co.
guage; cars,
OFFICERS.—Pres,., Geo. Higginson, Jr.; V.-P., Harry T. Edgar; Sec.,
Joseph L. Valentine Chicago 111.; Treas, H. B. Sawyer, Asst. Sec.. Victor
D. Vlckery.
Gen. Mgrs., Stone & Webster Mgt. Assn.—V. 98, p. 72, 610.
(1)
Keokuk Electric Co.
ORGANIZATION.—Incorp. in Hi. on Dec. 5 1911 as successor to the
Keokuk Elec. Ry. & Pow. Co.; Keokuk Gas & Elec. Co.; Hamilton Lt.
Power Co. and Keokuk & Western Elec. Co., control of which was
&
purchased in 1911 by Stone & Webster Mgt. Assn.
Does the entire electric
railway, electric lighting, power and gas business in Keokuk, la.; the entire
Rys, Co., which in turn is controlled by the United National Utilities Go.
purchased the power" hduse, transmission lines and sub¬
by the Traction Co. and sells power
The Lighting Co.
stations formerly owned and operated
to the latter under contract.
Fare Increase.—In Sept. 1918 the N. J. P. U. Comm .auth. the co. to
charge 6 cents in the former 5-cent zones,
V. 107, p. 1004.
In Dec. 1918
the co. was auth. by the N. J. P. U. Comm. to charge 7 cents instead of
6 cents per zone.
V. 107, p. 2290.
In July 1920 the Comm. turned down
the co.'s application for auth. to raise rates to 10 cents.
V. Ill, p. 188.
Interest.
STOCK AND BONDS—
Date.
aing.
Outstanding.
Maturity.
$531,400
Common$5,000,000 ($100)-- —
600,000
6%
Pref 6% cum $600,000 ($100)- ——
5 g M-S
800,000 Mar 1 1947
c-st mtge gold $5i000,000l 1917
$1,000) ——————--tf/Int. at Com 1 Trust Co., Phila.. trustee.
Stock.—Yreferred stock Is redeemable at 105 three years after issue.
Bonds.—Guaranteed, p. & L, by the American Rys. Co.
Callable in
whole or part after March 1 1922 at 102 K.
Additional bonds may be
ssued for additions, extensions, &c.
-
-
„
REPORT.—For calendar year 1917, gross, $256,128; net, after taxes,
$90,685, Interest, &c., $64,316; surplus, $26,369.
ROAD.—Owns and operates 34.03 miles of road from South Amboy,
Keyport and Belford to Red Bank; Belford through Atlantic Highlands to
Highland Beach; Freneau through Matawan to Keyport, N. J.
Standard
gauge 60-lb. T and 70-lb. girder rails.
Nearly all over private right of way.
KEOKUK, IA.
CENTRAL MISSISSIPPI
of capital stock, was merged with and into the Monmouth Lighting Co.,
whose entire $305,000 outstanding common stock is owned by the American
32 passenger cars, 29 freight cars and 1 snow-plow.
An extension from
South Amboy through Mechanlcsvllle and over the Raritan River Bridge
to Perth
Amboy
was
completed in 1910.
OFFICERS.—Pres., Van Horn Ely; V.-Pres., G. L. S. Tingley; Gen.
& V.-Pres., II. J. Crowley; Sec. & Treas., Walter W. Perkins.—
Mgr.
V. 105, p.
389, 1309; V. 107, p. 1004, 2290; V. Ill, p.
trPVWPQT
JjbJSX
W JciO 1,
FT
188, 1083.
A
cLa,
KEY WEST ELECTRIC CO.—A trolley road.
ORGANIZATION.—Incorporated In New Jersey In 1898 and does entire
electric railway and electric-light and power business of the city; also owns
franchises for manufacture of gas.
Franchise expires 1997. In June 1906
was acquired by Stone & Webster of Boston and re-capitalized as below.
V. 82, p. 1496.
Public Service Investment Co. owns $374,100 common
stock and $287,800 preferred stock.
STOCK AND BONDS—
Common
gold
Date.
$500,000 ($100)*—.
Pref $350,000 ($100) 6% cumFirst
mortgage
$1,000,0001
—
——
Interest.
ding.
$500,000
"~Q-M~
Maturity.
—
350,000
457.000 Aug 1
—
5 g F-A
1950
1900
tf JInt. at State Street Trust Co., Boston. Tr,
„
^
^
^
Pref. Stock.—Redeemable at 110.
Bonds,—Are subj. to call as a whole or In part for s. f. at 105 and Int. at
any time.
A sink, fund of 1% of bonds out began Dec. 1 1907, If earned;
on Dec.
1 1912 became obligatory.
$83,000 in treasury not incl. in out¬
standing amount.
$53,000 canceled.
EARNINGS.—For years ending June 30:,
Year—
Gross.
Netiaft.Tax.) Interest.
.$242,893
1918-19—— 228,258
1919-20—
$93,263
89.199
ROAD.—Operates 5.41 miles of track;
Power station capacity, 1,170 k.w.
$24,582
24,764
10 cars.
.
'
'
Sink. Fund.Surplus.
i
$68,681
— 1
64,435
Gauge 5 ft. 2K In*
OFFICERS.—Pres^, George J. Baldwin, New York; V.-Ps., Henry G.
and Harry H.Hunt; Sec., Victor D. Vickery; Treas.. Henry B.
L. Grooms, Key V^t, Fia.; Gen. Mgrs., Stone &
Webster Mgt. Assn., Boston.—V. 82, p. 1496; v. 94, p. 1508.
Bradlee
Sawyer; Mgr., Bascom
0"
64
ELECTRIC RAILWAYS
ROAD.—Operates 53 miles of interurban electric railroad from Marion
through Kokomo to Frankfort and 9 miles of street railway in Kokomo.
is connecting link between the Terre Haute Ind. A East. Trac. Co. and the
Union Traction Co. of Indiana.
Standard gauge, 70-lb. T rail.
On Dec.
31 1919 had 9,830 light and power and 166 heat consumers.
KINGSTON, N. Y.
KINGSTON CONSOLIDATED RR.
a consolidation on Dec. 111901 of the W
City RR. and the Colonial City Traction.
ORGANIZATION.—This Is
ton
STOCK AND BONDS—
Date,,
Interest.
Common $200,000 ($100)—
Preferred 4% cum $200,000-.
Outstanding,
OFFICERS.—Pres., Geo. J. Marott; V.-P., L. J. Kirkpatrick; Treas.,
Holliday; Sec., L. B. Hodgln; Aud. A Asst. Sec., Karl A. George,
Maturity•
$200,000
200,000 Aug. *17, 3%
632,000 Oct 9 1961
-
A. R.
Gen.
consolidated mortgage! 1901
5gJ-J
$700,000 ($1,000) gold c*tf|Int. at Bankers Trust Co., N. Y., Trustee.
Second
mortgage
$250,0001 1909
5 J-J
None
Jan 1 1939
($1,000)
./Int. at Bankers Trust Co., N. Y., Trustee.
First
__
Consol $150,000 ($1,000) notl 1893
5M-S
124.000 Mar 1 1923
subj to call before mat'y.tf/Int. at Farmers' Loan & Trust Co.. N. Y.
on car
barn..
6
6,000 On demand
guar.
Bonds.—$156,000 of the $700,000 consolidated mortgage Is reserved to re¬
tire the Kingston City RR. underlying liens; $12,000 have been canceled.
Dividends.—4% was paid yearly on pref. stock from consolidation up to
1908, when 2% was paid Aug. 1.
None to Jan. 11911, when 4% was paid.
None up to Sept. 1 1914, when 3% was paid.
In 1915, April, 3%; Aug..
0%.
In 1917, April, 3%; Aug., 3%.
In 1916, Aug., 3%.
Mgr. A Asst. Treas., P. H. Palmer.—V. 110,
None since.
ROAD.—Embraces 8 miles of track.
Ralls, 70, 80 and 90-lb.
40 cars
2 snow plows.
REPORT.—For years ending Dec. 31:
Cal. Year—
Gross.
Net.
Taxes.
Interest.
Balance.
1919
$191,359
$43,330
$10,527
$35,893
def.$3,090
1918
159,878
50,612
10,892
34,827
sur.4,893
-
OFFICERS.—Pres., Fred. T. Ley, Springfield, Mass.; V.-P., Henry C
Page, Worcester, Mass.; Sec., G1 B. te Bow, Kingston; Treas.
Abm.
Hasbrouck, New York.—V. 89, p. 225,529; V. 90, p. 303; V. 108, p. 2528.
KNOXVILLE,
&
LACONIA, N. H.
STOCK, Ac.—
Pref 6% cum $40,000 ($100)—
First mortgage $91,000 ($1.-1
on
electric-lighting and power business in Knoxville and
Aug. 5 1905
as a con¬
various nearby
communities.
Also owns two amusement parks.
Franchises are perpetual,
except as to 114 miles of street railway, which latter run until Nov. 28 1946.
Has favorable long-term contract with Tennessee Power Co. for the purChase of electric power.
The $400,000 6% debentures, due Jan. 1 1919, were retired at maturity,
the company obtaining a bank loan.
This loan had not been taken up
serves
Fares.—In May 1920 the Penn. P. U. Comm. denied the co. an increase
in fare from 5 to 7 cents and a 2-cent transfer charge.
An appraisal of the
ordered by the Comm.
Date.
V. 110,
Interest.
J-D
5 J-D
1911
ROAD.—Owns 8.87 miles of track from Laconia to
«auge.
11 passenger and 2 other cars.
1918
$28,117
34,373
I
—-
p.
2387.
Maturity.
Outstanamg.
$2,050,000
See text
3,306,000 June 1 1946
($500 and $1,000)-.-c*cpt/Int. at Guaranty Trust Co., N. Y., Trustee.
add'ns, impts., Ac., under conservative restrictions.
Bonds are red, as a
whole, but not in part, at 105 and int. on 60 days' notice, or may be pur¬
chased In open market at a price to net not less than 4 34 %.
Annual sink¬
ing fund began Oct. 1 1915, equal to H of 1% of total amount of bonds out.
$79,000 in sink, fund Oct. 1 1920. Penn. State tax refunded. The Knox¬
ville Traction Co. first mortgage bonds are not subject to call.
$52,000
CROSSE,
common—2%—June 29
1907,
1%
was
paid Sept. 1907 and, 1% Dec. 1907; in 1908,4%; in 1909. 7%; In 1910, 8%;
1911.10%.
Then stock all made one class and in June 1912 paid 3H%
Dec., ZH%.
In 1913, 7)4%.
In 1914, 4%.
Stock all owned by Ameri¬
Cities Co. and dividends no longer made public.
in
can
1919
1918
Gross
-
1917
-
ROAD.—On
Oct.
Net (after
Earnings.
$1,396,099
1,223.305
* ,087,072
-
Interest,
&c.
Taxes).
$516,Oil
497,711
432,684
$252,622
247,993
249,644
Surplus for
Renew., Ac.
$263,389
249,718
183.040
1920 ownedL54.721 m. of track, incl. 13.761 mile*
of double track: standard gauge; 70-lb. and over T and girder rail.
Has 27
open cars, 95 closed and 10 work cars; total, 121.
Power station (held in
reserve) has 6,800 k. w. capacity.
OFFICERS—Pres. & Gen. Mgr., O. H. Harvey;
V.-P.. W. S. Shields.
A. Briggs.—V. 102, p. 1163; V.
103, p. 2238; V. 107, p. 501; V. 108, p. 78; V. 110, p. 2387.
Sec. & Treas., C. J. Pleming; Aud., C.
KOKOMO, IND.
LIGHT CO.
ORGANIZATION.—Incorp. in Indiana on Dec. 7 1912 as a consolida¬
tion of the Kokomo Marion A Western Trac. Co., Kokomo Frankfort A
Western Traction Co. and Kokomo Public Utility Co.
Acquired the Gal¬
veston
to
Light A Power Co.
as
of May 311916 and Issued $10,000 pref. stock
pay for same.
In Feb. 1917 purchased the Converse Light & Power Co.
issued $100,000 1st M. bonds and $55,000 pref. stock to pay for same
ana
and for extensive additions and impts. to equipment in the power plant
at Kokomo.
Carries on an interurban and street railway business and
furnishes electric light and power In Kokomo and 22 smaller towns and
villages; also steam neat In Kokomo.
surrendered
in
1917.
Is
now
All franchises held by the co.
were
operating under Indeterminate permit of
the Ind. P. S. Comm.
Rates and Fares.—In 1918 was auth. to Increase all local and intra-State
freight, express and passenger tariffs.
Compare V. 106, p. 1901.
Has
also been auth. to collect a 30% surcharge on heating bills and H cent .per
k. w. h. surcharge on power bills.
In Nov. 1919 power rates and in Aug.
1920 steam-heating rates were further increased.
In Feb. 1920 was auth. by
the Ind. P. 8. Comm. to install a straight 5-cent fare and to discontinue the
sale of 6 tickets for 25 cents.
V. 110, p. 561.
In Aug. 1920 the co. was
auth, to charge a straight fare of 3 cents per mile for interurban passenger
service.
V. Ill, p. 792.
STOCK AND BONDS—
Date.
Interest.
Common $2,000,000 ($100)
Q-F
Stock.—Preferred stock is non-voting.
In addition to the amount re¬
ported outstanding $22,200 Is held in treasury.
Subject to call at 105.
Bonds.—Of the 1st A ref. bonds, $650,000 are reserved to retire the K. M
A W. bonds, $76,000 are held In treasury and $3,020,000 are for additions,
betterments, Ac., under certain restrictions. Red. on any Int. date at 105.
Sk. fd. 1% began Jan. 1 1917.
In lieu of retirement of bonds, company
may at its option set aside annually for perm, add'ns. impts. A extensions,
at not exceeding 80% of cost thereof, a sum equivalent to 1H% of total
amount of refund, bonds out.
Int. payable at Spencer Trask A Co., N. Y.
V. 95, p. 1684.
K. M. A W. 1st M. bonds are subj. to call at 105 and int
$28,000 of the amount reported outstdg. are held in treasury.
See V. 76,
p. 1143; V. 77, p. 451. r
Dividends.—6% is being paid on the pref. stock.
On?common. 1% s.-a.
to Aug. 1915. when 1 H% was paid.
In Feb. 1916. 1 H%; Aug., 2%:
Nov., 1%.
In 1917. 4%.
In 1918, 2)4%In 1919. 4%.
In 1920,
Feb., 1%; May, 1)4%', Aug., \^i%.
EARNINGS.—Years ending Dec. 31:
Gross earnings...
...
Int., taxes, deprec'n, pref. dividends, &c
Balance,
surplus—1
$4,282
7,987
1919.
1918.
1917
$867,239 $673,946 $611,315
$381,950 $298,744 $312,812
12,408
13,345
8,639
259,826 213,761
178,577
City Ry. and the Winona (Minn.)
-
Fare Decision.—On June 25 1919 the Wisconsin State Supreme Court,
ruling against the city of La Crosse, held that an emergency existed when
the RR. Comm. auth. the co. to Increase its fares from 5 to 6 cents.
p.
V. 109.
1
73.
Interest.
Date.
Outstanding.
Maturity.
Common $1,230,000First A
ref M $10,000,000?
$ 1.230,000
1913
5 F-A
2,225,000 Feb
1 1933
gold
„c*tf First Trust Co., Milw., Trustee.
1909
5 g J-J
La Crosse City Ry 1st M
220,000 July 1 1929
.(closed mtge) ($1,000).—c Int. at Wisconsin Tr. Co.. Milw., Trustee.
Bonds.—The mtge.
provides that $2,225,000
may
be
issued
at
par for corporate purposes of the company.
Bonds In addition to the
$2,225,000 may be issued as follows: $220,000 to retire La Crosse City
bonds and $75,000 to retire a like amount of bonds which may be issued for
certain additional property; remaining bonds are issuable at par (a) to
redeem at par any underlying bonds or any mtge. debt existing against
any
property acquired, not exceeding, however, at par, the reasonable
valuer of sucn property; and (6) for not exceeding 75% of cost of any addi¬
tional property, with certain restrictions.
Bonds red. on any int. date at
105 and Int.
Sinking fund, 2% per annum, began In 1918.
Int. payable
at office of trustee, or at office of company or at its New York agency.
EARNINGS.—For years ending Dec. 31:
12 Months—
Gross.
Net, after Taxes.
$219,997
138,085
1919
...$604,278
1918
488,094
ROAD.—23 miles of track.
$98,329 $142,874
Interest.
$140,329
140,381
Balance.
$79,667
def.2,290
OFFICERS.—Pres., Clement C. Smith; V.-P. A Gen. Mgr., J, P.
Pulliam; V.-P., R. M. Howard; Sec., Howard Greene; Treas., H. C.
Mackay; Asst. Sec., Wm. M. Chester; Asst. Treas., S. M. Rothermel.
Operations are directed from President's office in Milwaukee in connection
with the operations of the Wisconsin Public Service Co. and other public
utility properties.
V. 99, p. 1750, 1830; V. 109, p. 73.
WISCONSIN
MINNESOTA LIGHT &
POWER
Common stock all owned and properties managed
CO.
by American Public
O till ties Co.
ORGANIZATION.—Incorp. in Wisconsin. Dec. 2 1901
as
the La Orosse
Gas A Elec. Co. (successor to the La Crosse Gas Light Co., the LaCrosse
Brush El. Lt. A Pow. Co. and the Edison Lt. A row. Go.)
On June 24
1914 changed name to Wisconsin Minnesota Light A Power Co. and in¬
creased its auth. stock from $900,000 to $10,000,000 and merged the
Ohlppewa Valley Ry. Lt. A Power Co. (Incorp. in Wis. in 1898) and the
Chippewa Valley Construction Co.
In 1914 acquired the property of the
Winona Gas Light A Coke Co., Red Wing Gas Light A Power Co., Minne¬
sota-Wisconsin Power Co., Eau Claire Gas Light Co. and Neillsvllle Elec¬
tric Co.
V. 99, p. 1758.
In July 1917 purchased the property of the
Bloomer (Wis.) Elec. Light A Power Co.
V. 105, p. 296.
Owns and oper¬
ates electric light and power, street and Interurban railway, gas, domestic
water, and hot water heating properties In Eau Claire, La Crosse, Chippewa
Menominee, Sparta, Toman and Viroqua, Wis., and Winona, Wabasha,
Lake City. Twin Cities and Red Wing, Minn.
Operates under an indeter¬
minate permit granted by the Wisconsin RR. Comm. and is protected
against competition by any other public utility doing a similar business.
Has contract with Northern States Power Co. to supply lt with electric
energy for 30 years which began in 1917.
In 1918 the Wis. RR. Comm. auth. increases in gas, electric, water and
heating rates.
In July 1918 street railway fares in Eau Claire and Chippewa
Falls were increased to 6 cents and the rate on interurban lines was in¬
creased to practically 3 cents per mile.
In Feb. 1920 issued $600,000 1-yr. notes, proceeds being applied to the
payment of $1,000,000 of similar notes due at that time, the remaining
$400,000 being met by payment in cash supplied by the co.
V. 110, p. 369.
Interest.
STOCK AND BONDS—
Date.
Common, $5,000,000—
Pref..$5,000,000 (7%
Outstanding.
Maturity.
$2,500,000
u*
Q-M 1
5 g M-N
cum.)
5.000.000 Sept'20, IH
9,641,000 May 1 1944
$20*000,000 gold j 1914
($500A$1,000)c*($l,000) r*/
Int. payable in N. Y. or Chicago,
Trust A Sav. Bank, Chicago; Trustee.
1st A ref M,
red aft May 1' 19@105AintJHarris
I
Albert W.
Harris Co.. Trustee.
One-year notes $600,000($5001
1920
7 g F-A 1
600.000 Feb. 1 1921
-c/lnt. at Cont. A Com. Tr. A Savs. Bk., Trust.
Chipp V Ry L A Pow 1st Ml 1907
5 g J-J
506.000 July 1 1924
(closed)$2.000.000($l,000)g}lnt. at Harris Tr. A Savs. Bk., Chic., Trustee
A $1,000) g
Eau Claire Gas Light Co
1
Winona Gas Light A Coke Co
Red Wing Gas Light A P. Co.
220,500
300,000
250,000
Stock.—Pref. stock is pref. as to assets and dividends.
Additional tec
stock may be issued only under conservative restrictions.
Ti*~ —* —
may elect a majority of the directors whenever four consecutive QULiUU
dividends remain unpaid or the property is shown to be inefficiently &aa?
aged or depleted.
See V. 99, p. 54: V. 106. p. 1797.
Bonds.—Of the 1st A ref. bonds of 1914, $506,000 are reserved to retire the
Chippewa Valley Ry., Lt. A Pow. bonds. Escrow bonds can be Issued to re*
tire prior liens and for 75% of cost of ext. and add'ns (provided $250,000 ic
expended for ext.. Ac., without the issue of bonds), but only as regards the
first $2,750,000 bonds, in case the annual net earnings are 1)4 times the
total int. charge, incl. bonds applied for; balance may be Issued when net
Is IH times int. charge.
V. 98, p. 1995.
Sinking fund payable on the
basis of the following percentages of the bonds outstanding, Including under¬
lying bonds: 1% yearly to 1928.1 H% 1929 to 1938, and 2% 1939 to 1943;
—
-
either to retire bonds or for extensions and additions.
Notes.—While any of the 1-year notes are outstanding no bonds may be
issued except to reimburse the company for capital expenditures.
Red. all
in part at 100)4 and int. on 30 days' notice.
Interest payable in New
York and Chicago.
V. 110, p. 369.
or
Dividends.—Initial div.
$134,532
WIS.
Crosse and Winona, at wblcb cities It also has steam reserve nlants.
Outstanding.
Maturity
$2,000,000Aug'20,lM %
PrefcumSl,000.000 ($100)
6Q-M
**492,800 See text
1st & ref M sk fd $5,000,000) 1912
5 g J-J
1,254,000 Jan 1 1943
($500 and $1,000) g c*-tf/Union Trust Co. of Indianapolis, Trustee.
KokMar A Wist M $1,000,-1 1903
5 g J-J
650,000 July 1 1933
000 g ($500 A $l,000)c*ntf/Interest at Security Tr. Co., Ind., Trustee.
Net earnings
•Other income
Deficit.
$7,194
7.302
By. A Lt. Co.
Does electric-light and power business in Winona, Minn.,
and Onalaska. Wis., and operates street railways in Winona and La Crosse.
Owns hydro-electric plant at Hatfield, Wis., with transmission lines to La
1
INDIANA RAILWAYS &
Bd. Int., &c.
$2,912
def.685
ORGANIZATION.—Incorp. in Wisconsin on Jan. 16 1913 and has ac¬
quired and now owns In fee all the property formerly belonging to the La
Crosse Water Power Co., the La Crosse
.—
EARNINGS.—
Cal. Year—
Standard
WISCONSIN RAILWAY. LIGHT & POWER CO.
have been canceled.
on
Weirs.
%
EARNINGS.—For years ending Dec. 31:
Calendar Year—
Gross.
Net, afterTax.
($1,000)
Knoxville Trac 1st M $850,-1 1898
5 g A-0
798.000 April 1 1938
000 g tax-free ($1,000)—c* lint, at Baltimore Trust Co., Bait., Trustee.
Bonds.—Of the ref. & ext. mtge. $798,000 are reserved for Knoxville
Traction 1st 5s and $5,856,000 are reserved for 80% of cost of extens.
Dividends.—First dividend
Maturity.
$100,C00
40,000
91.000 May 1 1919
-
STOCK AND BONDS—
STOCK AND BONDS—
Outstanding.
-
1899
5 M-N
-/Interest at American Trust Co., Boston.
mortgage
$40,0001 1904
5 M-N
40,000 May 1 1919
($1,000)
/Interest at People's National Bank, Laconia.
Dividends.—In 1893-94 paid 5%; In 1894-95 paid 4%; none since.
000)
1920.
Stock $2,050,000 ($100)
Ref & ext mtge $10,000,0001
-
Second
LA
ORGANIZATION.—Incorporated In Tennessee
co.'s property was
-
TENN.
solidation of the Knoxville Traction Co. and the Knoxville Electric Light A
Power Co.
Does all the street railway and all municipal and commercial
1
Interest.
Date.
Common $100,000 (par $50)--
Controlled by American Cities Co. (see under New Orleans), which owns
of Oct.
792.
RAILWAY.
LACONIA STREET
LIGHT CO.
all the stock.
as
p.
ORGANIZATION.—Formerly the Laconia A Lakeport Street Ry., but
name changed to above in 1894
Early in Sept. 1919 we were informed that the bonds, due May 1 19,19,
"were not taken up but are held subject to readjustment of securities which
Is under way."
No further information.
1917
KNOXVILLE RAILWAY
561; V. Ill,
p.
_
Kingston City RR.—
Mortgage
[VOL. 111.
rate quar.
on
since to and incl.
pref. stock of IH % paid Sept. 1 1914;
.
lg
.
same
Oca., 1920. j
EARNINGS.—
Year Endinu—
May 31 1918
|} 1916
}%U
ELECTRIC
Gross
Net (after
Earnings.
$1,785,242
Preferred
Taxes, <fcc.) Interest.
$867,318
$316,681
1.712,220
Dec. 31
Bond
896,480
.LATEST
EARNINGS.—For
iJioi gross,
298,862
681,531
1.277,090
242,801
$1,829,711.
Dividends,
$350,000
291,200
162.354
RAILWAYS
Balance,
Surplus.
$200,637
306,418
276,376
Lines Leased to Conestoga Traction Co
Name of
CompanyStock.
Lancaster
Mechanlcsburg & New Holland-. .3300,000
Rohrerstown Landisville & Mt.
Joy_._
440.000
Ephrata & Adamstown
225,000
Lancaster & Rocky
Springs
200,000
New Holland Blue Ball &
Terre Hill
120,000
Lancaster & Eastern
430.000
Lancaster &
QuarryvlflelIIIIIIIIIIIIIIIII 225,000
Elizabeth & Florin
220,000
Christiana & Coatesville
365,000 '
Lancaster
Petersburg & Manheim
175,000
Lane. Willow St.
Lampeter & Strasburg,--- 225,000
Lancaster & Columbia
37,500
year
1919,
$2,181,686.
gross,
In
Also
owns
comprising 55*4 miles of mains.
and operates gas properties in La
105« P- 296- 1106- 18": v- 106. p. 1797;
1292; V. 108, p. 481, 581; V. 109, p. 987; V.
110, p. 369.
6
6
11.04
8.33
6
11.23
20
8.26
LANCASTER 5c YORK FURNACE STREET
I^Y.—A trolley road.
ORGANIZATION.—Incorp.
LAKE
May 17 1916 In Pennsylvania as successor
Lancaster & York Furnace Street
Ry. V*UW1
(incorp. July 22 1901), UV/UftUU
PUl/
bought
>rs on
Apr. 15 1910 for $125. subject to the mortgage for
mortgage for
212; V. 102, p. ,1540).
Operations, which had been
discontinued in Jan 1916, were resumed
i*
May 19 1916.
STOCK AND BONDS—
Date.
Interest.
to old
CHARLES, LA.
LAKE CHARLES RAILWAY. LIGHT &
WATER WORKS CO.
ORGANIZATION.—Incorporated
Che
In
Louisiana In 1909.
••
*
UAAAWVV
$i5J,000 ^yQCjQj^ers
In June 190t
company acquired the Lake Charles Street Ry. Co.,
operating an electric
railway in Lake Charles and Lake Charles Ice, Light & Water
Works Co.,
which operates an ice
plant, electric-light and power department and
MVIVVV
•
U
6miArnt
X
l
151916 for $125, subject to the
Outstanding.
$100,
Stock $100,000 ($50)
1st M gold $150,000
water system.
Maturity.
($100/ 1908
5g J-J
)/
150,000 Jan
1 1928
$500
&
$1,00)
c&mtf(Int. at Northern Tr. & Sav. Co., Lane.,trust.
Bonds.—Are not subject to call and have no
sinking fund.
.
..
_
Franchises expire; street-railway,
1941; electric light and power, 1926;
water-works, 1921, self-renewing every 5 years thereafter unless
city buys
plant.
Fares.—On Oct. 22 1918 Judge Overton at Lake
Charles, La., issued a
preliminary injunction to the city of Lake Charles, La.,
restraining the
company from collecting a 7-cent fare.
V. 107, p. 1747.
STOCK AND BONDS—
Date.
ROAD.—Operates 12*4
_
_
miles of track between Millersvilie and York
Furnace.
604b. T. rati.
Gauge 5 ft. 2** in.
OFFICERS.—Pres. & Treas., E. H. Myers; V.-P. & Sec., JohnH.
Myers;
Mgr., H. M. Stauffer.—V. 92, p. 187; V. 101, p. 212,
2145; V. 102,
153, 1249, 1540, 1625, 2077.
Gen.
p.
Interest.
Outstanding.
Maturity.
$200,000
gold] 1909
6 g F-A
90,000
See text.
(Inter-State Tr. & Bkg. Co., —
c*\"
-----New Orl., Trus.
Bonds.-—Remaining bonds are for improvements and extensions on basis
of $1 In bonds for each $1 33 of
improvements, &c.
Bonds mature $15,000
seml-ann. from Aug. 1 1912 to Feb. 1
1922, both incl.; redeemable on any
Int. day on 30 days' notice.
Int. is payable at office of trustee or at
Chicago
Savings Bank & Trust Co., Chicago.
$210,000 has been retired.
__
_
$200,000—_
__
First mortgage $500,000
($500 and $1,000)
EARNINGS.—For calendar year 1917, gross, $59,842
(for street railway
only).
In 1916, gross, $208,189.
In 1914, gross, $247,965.
In 1913.
$231,444.
gross,
ROAD.—Consists of 9 miles of track.
p.
RAILWAY
placed under the mortgage of 1901:
Oonestoga Traction Co.,
(Edison Electric Co.
Lane. Gas Light & Fuel Co.
I
are
Also controls the Lancaster Elec. Lt. Ht. & Pow. Co.
Gas Lt. & Fuel Co. controls the Columbia Gas
Co. and the
Co. controls the Conestoga Realty Co.
CO.
Miss.
Owns and operates the lighting.
railway system in the cities of Laurel and Elllsville, Miss.,
electric interurban railway between the two cities.
The lines out¬
side the cities and 2 miles in Laurel are on
private right of way.
Franchises
in Laurel extend to
Sept. 1936; in Elllsville to Mar. 1937.
Fare Increase.—At an election held
July 12 1918 the co. was granted
auth. to charge a 6-cent fare.
V. 107, p. 501.
and
an
Date.
Interest.
stock
Outstanding.
$425,000
-
Maturity.
-
Preferred stock. 6%
75,000
First mortgage $500,000 gold! 1911
6gJ-J
408,000 July 1 1936
($1,000)
c*tf J Int. at Fidelity Trust Co., N. Y., Trustee.
Laurel EI P & Lt Co mtge
80,000
1747.
ORGANIZATION.—Incorporated on June 15 1901 in New Jersey. Owns!
and controls the following
railway, gas and electric properties, whose stocks
are
&
STOCK AND BONDS—
COUNTY RAILWAY & LIGHT.
Controlled by the United Gas & Elec.
Corp.—See under New York.
Franchises
LIGHT
power and street
Common
LANCASTER, PA.
I LANCASTER
LAUREL, MISS.
LAUREL
ORGANIZATION.—Incorp. in
60-lb. rails.
OFFICERS.—Pres.. J. A. Landry; Sec., P. O. Moss.—V. 107,
-
Bonds.—$80,000 1st M. bonds are reserved to retire underlying
bonds;
remaining $12,000 are issuable for additional property.
Not subj. to call.
12
mos. to
Years ending Dec. 31EARNINGS.
Apr. 30 T8.
1916.
1915.
1914.
1913.
Gross
-$128,202
$124,049
$121,756
$120,602
$99,264
Net--.—------60,371
59,633
49,082
46.640
38.887
ROAD, &c.—Comprises 6*4 miles in Laurel and 9*4 miles between
Laurel and Elllsville; total, 1(
6 miles.__ Owns a pleasure nark between
Laurel and Elllsville.—V. 104, p. 452; V. 105,
p. 1802; V. 107, p. 501
..
:
i
The Lancaster
Conestoga Trac.
perpetual.
Does all the gas and electric lighting in cities
practically all in Lancaster County.
capital stock from $2,500,000 (of which
$1,000,000 5% cum. pref.) to $3,750,000.
Fares.—On Aug. 2 1918 the Conestoga Traction
Co, increased its fares
from 5 to 6 cents, and on Jan. 17 1919 this increase "was
held by the Penna.
P. S. Comm. to be reasonable.
See also V. 109,
of Lancaster and Columbia, and
In Dec. 1917 increased auth.
LAWRENCE, KANSAS.
1
p.
371.
Practically all the $160,000 Lancaster City RR. 1st M. 5s due
April 1
were taken up at
maturity, the co. obtaining funds through banks loans.
1920
STOCK AND BONDS—
Stock
6
OFFICERS.—Pres., W. W. Griest; V.-P., George Bullock; Sec. and
Asst. Treas., J. A. McKenna;
Treas., A. L. Linn Jr. ; Asst. Sec .-Treas.,
Anna E. Ranck.—V.
105. p. 2543; V. 106. p. 396, 602 ; V. 109, p. 371. ;;
Jos. H. Brewer; V.-P., W. B. Parsons; V.-P. &
D. Kline; Treas., C. A. Boalt;
Sec., Blaine Gavett; Asst.
?reVn^reas'e'1Ir-^ArtRWley--~vV. 107, p. 516,
Stock
4.99
17.74
8.44
6.40
6.
.
-
OFFICERS.—Pres.,
Gen. Mgr., P.
4.61
5
6
-
Crosse,
13.87
7.99
6
.
——
20.80
6
,
-
Miles.
6
,
.
cal.
Rental (%).
8
,
ROAD, PROPERTY, &C.—Owns and
operates 25 miles of electric
railway, incl. interurban line on private
right-of-way between Eau Claire
and Chippewa I alls and local
lines in those cities.
Present rated capacity of
company s hydro-electric and steam
plants approximates 70,000 b. p.
Ultimate development, 150,000 h.
p.
Owns over 400 miles of high-tension
transmission lines.
65
Date.
Interest.
Outstanding.
Maturity.
Sept'20,4%
Sept '20.1%
July 11951
$2,000,000 ($50)
Q-M
$1,607,500
Q-M
1,248,100
$1,000,000 gold ($500/ 1901
5 g J-J
1,000,000
and $1,000)
c*ntf
(Interest at Lancaster Trust Co., Trustee.
Securities of Lines Controlled—
com.
Pref. $1,750,000 ($50) 5% cum
Mtge
KANSAS ELECTRIC UTILITIES CO.
ORGANIZATION.—Organized in Kansas in Sept. 1915
to acquire the
properties of the Lawrence Ry. & Lt. Co., Emporia Ry. & Lt. Co. and
Parsons Ry. & Lt. Co.
Supplies electric light, power and street railway
service -in Lawrence, Emporia and Parsons, Kan.
Franchises expire in
1929, 1931 and
1938 and contain
burdensome restrictions.
no
Also
owns
all
the capital stock of the Miami (O.) Valley Electric
Co., Union City
(Ind.) Electric Co. and United Lighting Co. of Albion, Pa.
Fares.—Effective Jan. 1920, was auth. to charge a 7-cent fare in Lawrence.
STOCK AND BONDS—
Stock, $1,750,000
Date.
Interest.
Outstanding.
Maturity.
$400,000
-
Conest Trac 1st M
$2,000,000/ 1900
4 J-J
1.277,500 Jan
11950
($100, $50Q&$1,000)
c*tf(Int. atProv. Life& Tr. Co.. Phila., Trustee.
E St Ry 1st M $225,000
1891
5 M-N
225,000 May 1 1921
($100 and $500)
c*tf lint, at Metropolitan Tr. Co., N. Y., Trustee.
Lancas Trac 1st M
1893
($100,
5 A-O
225,000 Apr
1 1923
$500 and $1,000)
c»tf I Int. at Lancaster Trust Co., Lane.,
Trustee.
Lane G L & F 1st M $300,000
1895
5 J-J
300,000 Jan
1 1925
($1,000)
cntf Int. at Lancaster Trust Co., Lane., Trustee.
Second mortgage $400,000
1906
5 J-J
100,000 Jan
1 1936
I Int. at Lancaster Trust
($1,000)
c*tf
Co., Lane., Trustee.
Third mtge $100,000 gold
1911
J-J
100.000 Jan
1 1936
($1,000)
c*tf lint, at Lancaster Trust Co., Lane., trustee.
Columbia Gas Co 1st mtge
OIUE
/ 1911
5 J-J
75,000 Jan
11941
$200,000 ($l,000)__c*tf' nt. at Farmers' Tr. Co.,
Lancaster, Trustee.
Edison Elec Co 1st & ref
M/ 1913
5 F-A
1,846,500 Feb
1 1943
$5,000,000
tf (Lancaster Trust Co., Lancaster, Trustee.
Edison Elec Ilium Co 1stf 1895
5 J-J
290,800 July 1 1925
M $300,000 ($100, $500-1 Interest at Lancaster Trust
Co., Lancaster,
& $1,000)
c&rtf I
Trustee.
W
Col El L H & P 1st M
gold/ 1905
5 M-N
125.000 May 1 1935
$125,000 ($1,000).c&rtf (Int. at People's Trust Co.,
Lancaster, Truefc.
Oonestoga Realty Co 1st MJ 1908
5 M-N
240,000 May 1 1958
$500,000 sink fund g c_-tf 1 Int. at Lancaster Trust Co.,
Lane., Trustee.
Bonds.—Of Conestoga Trac.
1st M, bonds, $610,000 reserved to retire
collateral for bank loans, $112,500 reserved to be
used for the reduction of rentals.
Of Lane. Gas Lt. & Fuel 2d M.
$300,000
prior liens
or are
pledged
as
reserved to retire 1st M. bonds.
Lane. Gas Lt. & Fuel 3d M. bonds are
redeemable at 105 and int. on
any int. date on 3 months' notice.
Columbia
Gas Co. bonds are red. on any int. date at 105 & int. on
90 days' notice.
$125,000 reserved for future improvements at 85% of cost thereof.
Of
Edison El. Co. 1st and ref. bonds, $425,000 reserved to
retire underlying
bonds; remainder held in treasury for improvements,
are
extensions, &c., at
85% of cost thereof; red. as a whole, but not part, at 105 and int. on
any int.
date;
Columbia Elec. Light, Heat & Power bonds are red. at 110 and int.
on any int. date.
The bonds are guar, by the Lane. County
Ry. & Lt. Co.
Conestoga Realty Co. bonds are red. at par and int. on any int. date
Bonds.—Remaining bonds inay be issued for 80% of cash cost of extens.,
impts. and addns. under conservative restrictions.
Callable on 60 days'
notice, all or part, at 102*4 and int.
Sinking fund began Jan. 1 1917
1% of bonds out from 1917 to 1920 incl., and 2% thereafter.
Bonds to
be held alive in skg. fd.
In addition a fund is to be set aside annually for
betterm'ts which will amt. to abt. $172,500 by 1925.
V. 102, p. 803.
Earnings.—Of consolidated cos. for year end. Dec. 31 1919, gross,
$407,001; net, after taxes, $120,963.
In addition the net earnings or con¬
trolled cos. applicable to diva, for the year end. Dec. 31 1919 were
$62,466.
ROAD.—Owns and operates 10 miles of street railway in Lawrence,
and 4.8 miles in Emporia; total, 14.8 miles.
60-70-lb. T rail.
30 motor
of
cars,
1906,6*4%. In 1907, 7%.
In 1908 and since, 5%.
On common, in 1908 to 1912, incl., 10%; in 1913.
12%; in 1914, 11*4%; in 1915, 14*4%; in 1916, 15%: in 1917.
17*4%; in
1918, 13*4%; In 1919, 15%.
In 1920, Mar., 2%; June, 4%; Sept., 4%.
REPORT.—For year ending Dec. 31 1919, earnings (less
expenses and
proportion of surplus of sue. cos.), $613,696 (against $347,633 in
1918);
bond interest, $50,000; pref.
divf. $62,405; balance, $501,291.
Combined Results of Subsidiary Companies—Calendar Years.
Year—
Gross.
Net (aft. Tax).
Charges.
Balance.
1919
$2,854,323
$1,120,467
1918
$494,256
2,379,486
863,889
473,123
$626,211
390,766
ROAD.—The Conestoga Traction Co. (the
operating company) leases
163.75 miles of track, including the Lancaster
City Street Ry., 16.76 miles;
Lancaster & Columbia, 8.26 miles; Lancaster &
Lititz, 9.19 miles; Colum¬
bia & Ironville, 4.27 miles; Columbia &
Donegal, 5.16 miles; Lancaster &
Mechanlcsburg & New Holland, 20.80 miles; the New Holland Blue Ball &
Terre Hill Street Ry., 4.99 m.; the Rohrerstown
Landisville & Mt. Joy Ry.,
13.87 m.; the Lancaster & Eastern Ry., 17.74 m.; the Lancaster &
Quarryville Street Ry., 8.44 miles; the Elizabethtown & Florin
Street Ry., 6.40 m.;
the Christiana & Coatesville St. Ry., 11.04
miles; Lancaster & Millersvilie
Ry., 4.67 miles; Lancaster Willow Street Lampeter &
Strasburg Ry., 11.23
miles; the Lancaster Petersburg & Manheim Ry., 8.33
miles; the Ephrata &
Adamstown, 7.99 m., and the Lancaster & Rocky
Springs, 4.61 miles.
Subsidiary gas companies had 12.826 gas meters in use on Dec. 31
1918.
1 combination work and
and
cars
snow car.
^
LEETONIA, OHIO.
YOUNGSTOWN & OHIO RIVER RR.—A trolley and steam road.
Freight service operated by steam; passenger service by electricity.
ORGANIZATION.—Incorporated in Ohio
Dec.
on
8
1905.
In
1906
leased for 99 years Salem RR. from Pittsburgh Lisbon & Western RR.
Co.
for $6,000 per annum; the former runs between Salem and
Washingtonville.
7 m.
In 1910 road was re-capitalized and new securities issued as below.
Federal Control.—The road for a time was operated under Federal
control,
being classified as
Informed
a
short line steam railroad, but in Sept.
that the road
1919
we
were
Federal control.
Fare and Rate Increases.—In June 1918 Increased
passenger rates to 3
cents a mile and increased freight rates to conform to rates on Govt,
operated steam roads.
was
out of
V. 106, p. 2759.
STOCK AND BONDS—
Stock
Date.
$1,000,000
Preferred $1,000,000 5% cum.
Interest.
common
First
upon
amount set up monthly-sufficient to
3 months' notice.
Sinking fund an
retire bonds at maturity.
Dividends.—The first dividend on the preferred stock
(3%) was paid on
July 1 1904 and 3% was again paid on Oct. 1 1904.
In 1905, Jan., 3%
(see V. 79, p. 2796); July, 3%; Dec., 4*4%.
In
7 trail
OFFICERS.—Pres., Albert Emanuel, N. Y. City; V.-P., Irving Hill.
Lawrence, Kan.; Treas., C. B. Zeigler, N. Y. City.—V. 107, p. 1388.
1484, 1579.
—
___-
-
Outstanding.
$1,000,000
1,000,000
Maturity.
See text
See text
i
gold
Stock and Bonds.—Pref. stock div. is cumulative from
July 1 1913.
Bonds subject to call on any int. date at 105 and int.
Remaining bonds
reserved for acquisition and extension under certain restrictions.
are
Dividends.-
paid.
In 1911,
4*4%.
In 1916, 5% and 3% extra, paying ui
1918, 5%.
In 1919, 3*4%.
In
nging up all arrears on pre
rnimnn of 1 %
naid in Dec
-
-
~
was
paid.
EARNINGS.—For years ending
Year ending
Dec. 31—
1919
1918
Gross
Earnings.
$486,748
420,967
—
Dec. 31:
Exp., Taxes
Net
Bond
& Rentals.
$367,231
605,890
Earnings.
Interest.
$60,000
$119,517
115,078
60.000
Balance.
forDivs.
$59,517
55,077
ROAD.—Operates from the terminus of the Stark Electric Ry., In
Salem, Ohio, through the city of Salem to a connection with the Salem RR.,
and over the Saiem RR. from Salem through Washingtonville, Leetonia,
Lisbon and West Point to East Liverpool, Ohio, a distance of 30 miles.
At Leetonia. O., connection Is made with the Youngstown & Southern
Ry..
Owns 29.19 miles of track and leases 6.81 miles.
Standard gauge, mostly
70-1H- T rail.
Pass, equio., 7 cars- freight. 3 locomotives. 15 cars.
OFFICERS.—Pres., Chas. S. Thrasher;
V.-P. & Gen. Mgr., J. D.
Dewees; Sec. & Treas., Warren Bicknell; Aud. & Asst. Treas., R. F. Miller.
Operating
Mgrs.,
Warren
Bicknell
Co.
General
office,
Leetonia,
executive offices, 5716 Euclid Ave., Cleveland, O.—V. 102, p. 523,
p.
494,1120, 2429;
V. 106, p.2759;
V. 107, p.1289.
O ;
V. 103,
[Vol. 111.
ELECTRIC RAILWAYS
66
Date.
Interest.
Outstanding.
Maturity.
—All owned by Kentucky Securities Corp.—
1919
6 g A-0
$793,350 April 1 1929
STOCK AND BONDS—
lewistown, pa.
LEWISTOWN & REEDSVILLE ELECTRIC RY.
Controlled by the Penn Central Light & Power Co. of N. J. (V.96, p. 493)
and operated In connection with the Penn Central Light & Power Co.
(Penna.).
All of the stock and some of the bonds are subject to the Hen
of the mortgages of the Penn Central Lt. & Power Co.
ORGANIZATION.—Incorporated in Pennsylvania on March 24 1892.
Interest.
Date.
STOCK AND BONDS—
Stock $150,000 ($50)
--U
Maturity.
Outstanding.
5%
$150,000 *07-'08,
------
IJUW
1.00a
u » «"
150,000 JulV 1 1929
($500 emu $1,000)? 1899
and
6 g J-J
$150,000 not callable.c&rtf (Int. at Merchants Union Tr. Co.. Phtla.. Tr.
Second mortgage $125,000—/ 1902
5%fim
125,000 May 1 1949
(Commonwealth Tr. Co., Harrsiburg, Pa., Tr
Ref Mtge $500,000
1 1917
5 A-O
68,000 Oct 11949
I Phil a. Trust Co., Phila., Trustee.
The 1st mtge. bonds originally bore int. at the rate of 5% and matured
July 1 1919 but were extended for 10 years at 6%.
V. 109, p. 1179.
Second Mtge. 5s originally fell due May 1 1917, but were extended to
May 1 1949.
They are owned or controlled by Penn Central Light &
'•It
1st
M
k
g
1V1
„
All the outstanding ref. mtge. bonds are owned by the
L. & P. Co.
They were issued for exts., impts., &c.
Dividends.—1902 to 1908, incl., 5% per annum.
None since.
Power Co.
Stock $100,000
First lien & ref
(un'ltd
bonds ser. "A"I
$50,$100,$500.$l,000j
30:
Taxes.
19-20
1918-19—
— —
Fixed Chgs.
(3) Lexington Ice Co.
ORGANIZATION, &c.—Incorp.
outstanding, $25,000; all owned
Balance.
$175,715
154,922
,
ky*
lexington
(1) Western Ohio Ry.—A trolley road.
ORGANIZATION.—Incorporated in Ohio on Oct. 11 19C0.
This Is one
roads and forms a link in the through car service from
Cleveland to Lima.
Outside of municipalities has private right-of-way.
holding company
($100)
$2,052,287
($100) 6%f
11913
J
com. and pref.
Q—J15
2,179.620
See text.
listed on Phila. and Louisville stock
$2,500,000
from
ian
Stock.—Both
Pref.
exchanges.
is
also
stock is redeemable at par
,
are
„
„
_
listed on Cincinnati Stock Exchange.
ITefand accum. div.
In July 1917 holders of both
and pref. stock were given the right to subscribe pro rata on or
before Aug. 15 1917 for the remaining pref. stock at 82^ and accrued divs
from July 1 1917.
V. 105, p, 389.
As of Oct. 1 1920 $320,380 pref
stock remained unsold.
Dividends.—Initial div. on pref., 1M%. paid July 15 1913; same rate
common
.
1916; In Oct. 1916 paid 1H% and H of 1% extra
In Jan. 1917, 1H% and 1% extra, paying up all
accumulations; April 1917. 1 y2%, and same rate quar. to and incl. July
1918; none to Oct. 1919. when 1M% was paid (V. 109, p. 1273).
In 1920,
Jan., m%; April, V/2%\ July, 1^%; Oct., 1 U%.
In April 1920 a scrip
div. of 6% was also paid, clearing up all back dividends.
V. 110, p. 1526.
This scrip is payable in cash at the co.'s option on or before April 10 1925.
quar. to and incl. July
acct. of accumulations.
^EARNINGS.'—Of
combined properties (Ken. Trac. & Term. Co. and
Lex. Util. Co.) for years end. June 30 (1920 report in V. Ill, p. 1566):
June 30.
Gross
Net
Other Sink.Fund,
Bond
Balance.
Year—
Earnings. Earnings.
Income. Taxes, &c. Interest.
Surplus.
$1,330,372
$550,391 $93,741
$381,100
$263,033
1918-191,135,780
466,678
51,600
322,093
196,186
1917-18
1,021.448
416.173
45.180
302,454——
158.899
Passengers carried in 1919,20, 6,673,649, against 5,460,630 in.1918-19.
-
-
OPERATIONS.—Constituent companies
operate 93.79 miles of
track
They do the electric-light and power, gas, street railway and ice business of
Lexington.
Also operate city lines In Frankfort and lines radiating from
Lexington to Georgetown, Paris, Nicholasvilie, Versailles and from Frank
fort to Versailles.
OFFICERS.—Pres., P. M. Chandler; V.-P., F. W. Bacon; Sec., W. J.
Devine; Treas., II.
Williams Jr.; Asst. Treas., H. D. Brown
1363, 1366; V. 110. p. 1526, 1642.
Jr.—V. 108,
2241; V. 109, p. 1273,
(1) Kentucky Traction & Terminal Co,
ORGANIZATION.—Incorporated in Kentucky on May 18 1911 as a con
solidation of the Lexington Ry., Bluegrass Trac. Co. and Central Kentuckj
Traction Co.
V. 92, p. 1436.
The entire stock is owned by Kentuckj
Securities Corp.
Franchises perpetual except those on 1 mile in Winchester
expiring in 1927.
Fare Increases.—In April 1918 increased cash fares on
from 2Yx cents to 3 cents a mile.
Through fares from
increased 5 cents for each one-way ticket. V. 106. p. 1689.
cents.
?assenger Freight rates wereto 3.6 cents per mile,
rates were raised raised 15%. V. Ill,
the co. increased fare on
interurban lines
Lexington were
On Aug. 26 1920
with a minimum fare of
p. 1083.
In Sept. 1918
Effective June 14,
7 cents. V. Ill, p. 294.
Interest.
Outstanding.
Maturity
$2,093,400
its city lines from 5 to 6 cents.
1920, fares were raised from 6 cents to
Date.
($100)
1911
5 g F-A
2,319,000 Feb
1 1951
ref mtge $7,500,000 g
($1,000) guar p & i
c*tf Int. at Commercial Trust Co., Phila., Trust
Lex Ry first mtge $1,500,0001 1899
5 g J-D
1,121,000 June 1 1949
gold ($1,000)
c»tf Int. at Continental Tr. Co., Baltimore, Trus
1904
5 g M-S
210,000 Mar 1 1934
Blue Grass 1st mtge $700,000
,Int. at Cleveland Tr. Co.. Cleveland, Trus
g ($500 and $1,000).... c&rtf
STOCK AND BONDS—
Stock $2,500,000
1st &
Georgetown & Lexington first
Owns entire common and pref. stock
Toledo Ry.
V. 83, p. 97, 157, 381.
Has contract
until April 30 1923 to Lima & Toledo Traction, Ft. Wayne
Van Wert & Lima Traction and Indiana Columbus & Eastern Traction.
Was leased to the Western Ohio RR., by which it is controlled through
stock ownership, but lease was canceled in 1915.
See remarks above.
Stockholders on June 28 1915 voted to make the 1st pref. stock redeema¬
ble at 107 H to
put the company in position to retire the stock when the
$2,500,000 1st M. bonds mature on Nov. 1 1921 and arrange a compre¬
hensive financial plan.
Fares and Rates.—Effective Aug. 1 1918, the co. was auth. to increase
passenger rates.
V. 107, p. 403.
On Aug. 15 1918 the I.-S. C. Comm.
auth. an increase in freight rates.
On Feb. 27 1918 was auth. by the Ohio P. U. Comm. to sell at 80 $50,000
6% Gen. Mtge. bonds, proceeds to be used for add'ns, exts., and impts.
V.106.p 1128.
Bond Interest Deferred.—Due to the severe weather conditions during
the winter of 1917 and the resulting increased cost of operation, the co.
found itself unable to meet the bond int. due May 1 1918 on its 1st M.
bonds.
Payment of same was made on Sept. 1 1918.
V. 107, p. 1288.
Compare V. 106, p. 1797,
The Nov. 1 1918 int. on these bonds was paid
April 30 1919.
May 1 1919 interest was not paid when due, but has since
been paid.
Nov. 1 1919 int. was paid about April 30 1920.
We were
informed early in Oct. 1920 that the May 1 1920 coupon would probably be
paid sometime during that month.
%
Franchises in towns are for 25 years.
SECURITIES CORPORATION.—A
Common $2,500,000
p.
ohio.
WESTERN OHIO RR.—A holding company.
ORGANIZATION.—incorporated in Ohio on June 7 1910 to take over
under lease the Western Ohio Ry. but lease was canceled by vote of stock¬
holders on June 28 1915 and the company's electric light anu power plant
at Sidney sold to the Standard Power & Equipment Co. and all Its other
property and assets to the Western Ohio Railway Co. except the stock of
that company owned.
Holders of com. stock of Western Ohio Ry. had
right to exchange before Jan. 1 1911 their stock for stock of Western Ohio
RR. on basisof 3 shares of Ry. for one share of RR.
V.90,p.1556. 29,278
shares were so exchanged.
Stock auth., $1,000,000; issued, $990,900.
of the Mandelbaum
KENTUCKY
cum
May 1 1917.
Stock authorized and
by Kentucky Securities Corp.
Made a
50-year lease of plant and business of Consumers Ice & Cold Storage Co.,
of Lexington.
Has entered into contract with Lexington Utilities Co. for
sale of that company's ice output.
lima,
ORGANIZATION.—Incorporated In Virginia on Jan. 23 1911 (V. 92, p
322) as successor to the Lexington & Interurban Rys. Co. per plan in
V. 92. p. 461.
Owns the entire stock of the Kentucky Traction & Termi¬
nal Co., Lexington Utilities Co. and Lexington Ice Co.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Pref
m
Penn.
$21,903
$3,315
$18,588
None
20,250
2,515
17,735
None
ROAD.—Operates 10-55 miles of track from Lewistown to Reedsville and
Lewistown Junction, with a branch to Burnham.
67 and 85-lb. T rail.
Has 24 passenger cars, 2 work and snow cars.
*
OFFICERS.—Pres. & Mgr.. J. I. Quigley, Lewistown; V.-P., Chas.
Day, Phila.; Sec. & Treas., John E. Zimmermann, Phila.; Asst. Sec., C. A.
McClure, Phila.; Asst. Treas., C. R. Bitting, Phila.; Supt., C. E. Gossard
Lewistown.—V. 88, p. 1128; V. 89, p. 919; V. 96, p. 487; V. 109, p. 1179.
«
1919-20
„
^
^
Bonds.—Are secured by a mtge. on
Central
EARNINGS.—For years ending June
Cat. Year—
Gross.
Net.
f
^
c*tf [Commercial Trust Co., Phila., Pa., Trustee.
all the co.'s property.
For further
security back of this issue see V. 109, p. 1370.
Amount of bonds out¬
standing at any one time is indeterminate.
Bonds of other series may be
issued under certain restrictions as defined in the indenture at not exceed¬
ing 6% and shall stand on a parity with Series "A."
Red. all or in part on
any int. date on 60 days' notice at 101 and int.
State taxes not exceeding
the present rates of 6% on income in Mass., $.0045 in Md., $.004 in Ky.,
and $.004 in Penn. will be refunded.
Int. payable at trustee in Phila.
or agency of co. in New York.—V. 109, p. 1370.
g
1901
5 g M-N15
196,000 Nov 15 1921
Interest at Cincinnati Tr. Co., Trustee, and
mtge $250,000 gold ($100.
at Guaranty Trust Co., New York.
$500 & $1,000)
c&rtf
Bonds.—Of the 1st & ref. bonds, $1,577,000 are reserved to retire
of the Lima Findlay &
to furnish power
STOCK AND BONDS—
retires 1% of
June 30 1920.
Lexington Ry. bonds annually; $245,000 were held in s. f.
trust
mortgage/
$500,000
cftncol^ii
The Lima Findlay &
Tol. bonds have a sinking fund of
which began in 1911.
Are subject to call at 105.
V. 80. p. 2344.
Dividends.—On 1st pref. quar. divs. were paid
miles; Georgetown, 1.26 miles; interurban lines
to Versailles, Georgetown, Paris, Frankfort and
radiating from Lexington
Nicholasville, 65.87 miles
sidings and spurs, 1.8 miles.
50 to 80-lb. rails.
58 closed and 27 open cars, 1 incl. 47 passenger
Standard gauge.
Owns
city cars.
15 interurban
passenger,
2 ice, 2 freight and 19 service cars.
Phila. V.-P., F. W. Bacon,
Lexington; Asst. Sec., W. J. Devine, Phila.;
Treas., J. Will Stoll, Lexington; Asst. Treas., Jerry W. McMeekin, Lexing¬
ton; Gen. Mgr., J. P. Pope.—V. 107, p. 2476; V. 108, p. 579, 1060; V. 109,
p. 72, 1793; V. 110, p. 360; Y. Ill, p. 294, 1083, 1183, 1566.
OFFICERS.—Pres.. Percy M. Chandler,
Phila.; Sec., T. D. Murray,
(2) Lexington Utilities Co.
ORGANIZATION, &c.—Incorporated in Ky. on June 5 1909.
Does ice
and gas business in Lexington.
Owns a sub¬
stantial interest in the Southwestern Utilities Corp., a holding company
owning all the issued securities of the Gas Pipe Line Corp. and the Sachem
Oil Co., and 70% of the issued Securities of the Southwestern Gas Co.
Has assumed the payment of prin. and int. of $861,000 Kentucky Trac.
& Term. Co. 1st & ref. 5s and $750,000 Lexington
Ry. Co. 1st M 5s.
and electric-light and power
V. 109, p.
1370.
Light and potver franchises expire in
1936.
Gas and ice
franchises are perpetual.
Power plant has rated capacity of 10,500 k.w.
Daily capacity of Ice-manufacturing plant, 219 tons.
In July 1919 the co. brought out an issue of $750,000 1st lien & ref. 6%
bonds, proceeds being used to retire floating debt and prior lien bonds,
for construction and for other corporate purposes.
V. 109, p. 1370.
$10,500 per ann.,
$76,000 have been re¬
tired.
None since.
1917.
Apr.
and
same
regularly to and incl.
On 2d pref. first div., 1^%, paid Oct. 1910,
and incl. July 1914.
None since.
amount quar. to
EARNINGS.—For year ending Dec. 31:
,
\
Gross
Net (after
Preferred
Balance,
Earnings.
Taxes).
Interest.
Dividends.
Surplus.
1919
$967,257
$250,302
$163,813
$106,489
1918
841,364
187.025
163,402
23,623
1917
803,814
159,625
161,747
$8,330 def.10,452
1916
749,863
264,314
165,739
33,320
65,259
ROAD.—Operates from Lima through Wapakoneta and St. Marys to
Celina; from St. Marys to Minster, and from Wapakoneta to Piqua; a total
of 82.01 m.; also Lima to Findlay. 31.97 m.; thus completing a through line
to Toledo.
Total, 113.98 m., single track.
Standard gauge.
Owns 18
Year—
express trail cars.
F. Gould, Gleve.;
99. p. 895; V. 105, p. 73;
1288, 1748.
motor cars, 7 freight motor cars and 66 freight and
OFFICERS.—Pres.. F. D. Carpenter, Lima; V.-P., E.
pass
H. C. Lang.—V. 104, p. 1450; V.
1128. 1797, 1902; V. 107. p. 83, 403,
Sec. & Treas.,
V.
106, p.
i
neb.
lincoln,
trolley roaa.
ORGANIZATION.—Incorporated in Nebraska in 1909.
Is a consoli¬
dation of the old Lincoln Traction and the Citizens' Ry. Co.
V. 88, p. 506.
Holders of the old Lincoln pref. stock ($700,000) received 110 in the new
bonds.
Holders of the old Lincoln corn. ($330,000) received, for every share
of old. two shares of new pref. and four shares of new common.
Holders
of Citizens' Ry. stock ($415,000) received 100% in new pref. and 80% In
THE LINCOLN TRACTION CO.—A
new common
♦
Fares.—Effective Jan. 1 1920 the co. was
to increase feres from 6 to
of
ROAD.—Operates 93.79 miles of track, comprising all street railways in
about Lexington, 16.02 miles; Frankfort, 7.64 miles; Winchester, 1.2
and
Maturity
$30,000
476.000 Apr'17.1 %%
450.000 Jly'14,1 H%
5 g M-N
2,500,000 Nov 1 1921
Cit. Sav. & Trust Co., Cleveland.
I
Trustee, or First National Bank, N. Y.
1910
6%
24,000 July 1 1930
tf/Cleveland Trust Co., Trustee.
L F & T 1st mtge $600,000( 1905
5 g J-J
324.000 July 1 1925
gold ($1,000)
ctfilnt. at Citizens' Sav. & Trust Co., Clevel
land, Trustee, or in New York.
General M $500,000
1918
6%
See text
Bonds.—The West Ohio 1st M. bonds have no sink. fd. and bonds are not
subject to call.
$476,000 have been canceled.
See V. 76, p. 160, for agree¬
ment among bondholders.
Coll. tr. bonds are convertible into 1st pref.
stock and are secured by deposit of $24,000 1st 5s.
$476,000 have been
converted.
No sink, fd.; red. on Nov. 1 1921 at 110.
As bonds are con¬
verted, proportionate amounts of the 1st 5s which are collateral will be
Collateral
prior
extensions, improvements, &c., at not exceeding
of cost under certain restrictions.
They are redeemable as a whole
on February 1
1914 or any Interest day thereafter, or in part for sinking
fund on any interest day after
November 1 1921 at 105 and interest.
Bonds are guaranteed prin. & int. by end. by the Kentucky Secur. Corp.
Sinking Fund
per annum
of bonds out.. 1921 to 1930; 1% 1931 to
1950. V. 92, p. 1564.
As of Oct. 1 1920 $550,000 had been retired and
canceled by operation of the sinking fund. V. Ill, p. 1083. $50,000 are de¬
posited with the trustee of the Lexington Utilities Co. indenture.
The
bonds are listed on Phila. Stock Exchange. V. 94, p. 1119. Sinking fund
Outstanding.
-
pf $500,000 ($100) 7% cum
2d pf $500,000 ($100) 6% cum
1st M $3,000,000 g ($1,000) f 1901
$26,500 per m
c*&rtf-(Int. at
1st
liens and remainder for
90%
Interest.
Date.
Common $30,000 ($1)
a
permanent rate.
auth. by the Neb. R. R. Comm.
mos. pending the fixing
7 cents for a period of 6
Tickets are to be sold at 4 for 25 cents and 7 child¬
Fares between Lincoln and suburban towns were
V. 110, p. 465.
In April 1920 applied for
ren's tickets for 25 cents.
increased
from
7
to
8 cents.
auth. to sell three tickets for
20 cents.
The $250,000 old Lincoln Traction Co. Mtge. 5% bonds
retired at maturity.
The co. issued 1-year notes for
were
due Jan. 1 1920
sufficient funds
to meet these notes.
STOCK AND BONDS—
Date.
Interest.
Common $2,000,000 ($100)
Pref $1,500,000 ($100) 6% cu
Outstanding.
Maturity.
$1,652,000 Dec '16. 1%
1.186,700 Nov '17.IX
Q-F
1,250,000 Mar 1 1939
1st mortgage $1,500,000 gold(_1909
5 g J-J
$1,000)
c&rtf (Interest at New York Trust Co., trustee.
One-year notes
1920
250,000
1921
Bonds.—Remaining $250,000 new Lincoln Traction Co. bonds are reserved
prior liens.
Subj. to call at 110.
Dividends.—1>^% paid quar. on pref. from May 1 1909 to Nov. 1
Feb. 1918 div. passed.
On common, 2% paid Sept.
1% paid Mar. 15 1914 and 1% paid Sept. 1 1914. In 1915» 3%; in
for
Inclusive.
EARNINGS.—For cal. years:
Year—
Gross.
1919
1918
l
ROAD.—Owns
—
$1,061,008
1.004,658
Net.
$207,758
152,167
Int.&Taxes.
$157,453
144,657
1917,
1912.
1916,
Balance.
$50,306
7,510
54.59 miles of track.
OFFICERS.—Pres., W. E. Sharp; Treas., S. H. Burnham; Sec.
Mgr., O. J. Shaw.—V. 110, p. 465, 1642.
& Gen.
OCT., 1920.
ELECTRIC RAILWAYS
OMAHA LINCOLN & BEATRICE
RY.
Is to construct 56 miles between
Lincoln and Omaha, of which / miles
from Lincoln to
Bethany Heights Is completed and In operation.
Of the
7 miles Just mentioned,
M of a mile Is an extension into the main business
centre of University Place.
Standard gauge.
70-lb. T rail.
Franchises,
yeare and perpetual.
Stock auth., $2,250,000
($100); outstanding,
$200,000.
In Dec. 1916 the Nebraska RR.
Comm. auth. the company to
issue $2,000,000 common
and $500,000
pref. stock and $2,500,000 bonds
for the completion of the line
from Omaha to Lincoln, but not
including the
extension
to Beatrice.
EARNINGS?—For 12
taxes, loss, $9,502.
mos.
after
In
»t)l 1
•'
ending Dec. 31 1918, gross, $25,352; net,
1917, gross, $27,786; net, after taxes, loss,
'• '
'
1
,
'".r
OFFICERS.—Pres.. Harvey Musser: Sec., J. C. Musser; Treas. & Gen.
Mgr., J. M. Bramlette; Aud., Carl Weil.
Office, 321 Terminal Bldg.,
Lincoln.—V. 103. p. 844; V.
104. p. 73; V. 108. p. 1275.
LITTLE
80.12% of pref. stocks.
84.61%
of
com.
STOCK AND BONDS—
Common $2,000,000 ($100)
Date.
Interest.
Outstanding.
Maturity
semi-ann
$1,911,700 June *17,3%
750,000 July '18. 3%
goldf 1903
5 g A-0
1,826,000 Apr
11933
_c*( Interest at Canal-Commercial Trust & Savs.
Pref 6% cum $750,000 ($100)
$2,000,000
6 J-J
_
($1,000)
JBank, New Orleans, Trustee.
1908
Int. at
000) gold
c*l
6 g A-0
of
Bank
Memphis,
1,592,500 Apr
1 1938
Commerce & Trust Co.
Trustee,
or
Guaranty
Trust
Co., N. Y.
1-yr. notes, $1,000,000 ($100/
$500 &
$1,006)
1920
7 g J-J
1,000,000
Jan. 1 1921
c*tf\Inter-State T. & B. Co., N. O., La., Trustee
g
Stock.—Pref. stock is redeemable at 110 and accrued
dividend.
stock Is held in treasury.
Bonds.—First mortgage bonds are subject to call on
common
$88,300
60 days' notice
on
Interest period at 107 H.
Sink, fund of 44 of 1 % of outstanding bonds
1908 to 1917; 1% thereafter.
On Oct. 1 1920 $200,000 were held in sk. fd.
The refund. & extension bonds cannot be called;
$2,000,000 are reserved to
retire 1st 5s, $500,000 are pledged as part
security for the $1,000,000 1-yr.
7% notes and remainder for 80% of cost of additional
property if net
earns, for 12 mos. previous have been
twice the annual int. charges on out¬
standing bonds, lncl. those to be issued.
A sinking fund of H of 1% on out¬
any
standing bonds which began Aug. 1 1913 is to be invested In these bonds at
not higher than a4^% basis, bonds to be
kept alive in fund.
On Oct. 1
1920 $70,500 were held in sinking fund.
The first $1,000,000 issued as 6s;
rate on subsequent bonds to be at discretion of
board of directors, but not
exceeding 6%.
See full particulars regarding bonds, property, &c., in
V. 87. p.414.
Notes.—The 1-yr. 7% notes in addition to being
are further secured by $500,000 ref. & ext.
a direct obligation of the
6% bonds of the co.
No
mtge. having a prior claim to these notes
may be created while these
notes are outstanding without incl. said notes under the
lien of the mtge.
co.
new
Int.
payable at office of trustee or First National Bank, N. Y.
Dividends.—On pref., 6% per annum paid up to and
including July 1918.
On com., 1906, 2%; 1907,
since.
4%; 1908/
1909, 8%.
In
8%.
In 1911, 20%.
In 1912 to 1915, 10%.
m
xyxu,
x
none
1910,
July, 3%; Dec. 30, 2%.
In June 1917, 3%; Dec. 1917,
EARNINGS.—For cal.
none
(V. 106, p. 39!
years.
_
Gross.
Net aft. Tax.
Int., &c.
Surplus.
$543,133
$246,340
$296,793
1,436.070
264,558
230,223
34,334
ROAD.—Operates 41.094 miles of track, including 13.285 miles of doubletrack.
Rails. 70-lb. and over.
26 open, 55 closed, 22 semi-convertible and
7 work cars; total, 110. Operates Forest Park, located about 6 miles
from
the centre of the city.
OFFICERS.—Pres., D. H. Cantrell; V.-P. & Treas., A. Brizzolara;
Gen. Mgr.. Chas. J. Griffith; Sec. & Aud., W. J.
Tharp.—V. 109, p. 676,
2439; V. 110, p. 167, 360, 1526, 2192, 2387, 2657; V. Ill, p. 188.
$1,696,743
-
LONG
MONMOUTH
COUNTY
BRANCH, N. J.
ELECTRICS
1901 as a reorganization of
Long Branch Eleictric Ry.
In April
1903 was granted a 45-year franchise to
operate In Long Branch, in con
sideration of which the town is to receive
44 of 1% of gross receipts.
Receivers—Default.—On April 20 1916 Charles F. Sexton of Long Branch
and Wm. G. Boteler of Red Bank were
appointed receivers.
Int. on bonds
the Atlantic Highlands Red Bank &
has
been in default for some time.
STOCK AND BONDS—
Date.
Stock $500,000 ($50)
Interest.
Outstanding.
Maturity.
$325,000
$500,000
($1001 1901
4 g J-J
500,000 Apr 1 1951
and $1,000) gold
c* J Int. at Hamilton Tr. Co., Brooklyn, Trustee
Other debts. Dec 31 1916
—j
153,417
ROAD.—Operates in and between Red Bank and Long Branch and from
Red Bank to Oceanic.Total track, 17-71 miles.
mtge
EARNINGS.'—For
cal.
1917, gross, $81,693; oper. exp., &c.t
$83,348; net. def., $1,655; other income, $149; interest, &c., $25,249; bal.,
def., $26,756.—V. 102, p. 2254.
<
LONG
1919
year
ISLAND
Maturity.
ending Dec. 31:
Tax.)
Oth. Inc. Int.,Rents, &c.
Balance.
def.$3,750
$213
$47,558
def.$51,095
def.17,407
213
46,927
def.64,121
years
Gross.
Net (aft.
___$269,103
226,994
1918
Outstanding.
$600,000
600,000 Jul
June 1 1925
Co., Brooklyn, Trustee,
Interest paid by Treasurer, New York.
ew
I
Year—
ROAD.—Comprises 25.23 miles of track on 16.30 miles of road from
Crescent Avenue, Brooklyn
(at the terminus of the Kings County
Elevated),
to Jamaica, Hollis and
Queens, and from Jamaica to Far
Rockaway.
36
passenger cars and 8 others.
V. 102, p. 1540; V. 109,
p.
(2)
888, 2263.
New
On
June
York & Long Island Traction.—A
trolley road.
20 1905 control was
purchased jointly by the Interborough
Rapid Transit Co. and the Long Island Consol. Elec. Cos.
V. 80, p. 2622.
$1,000,000.
Fare Decision.—On
June 15 1912 P. S. Comm., 2d Dist
decided that
not obliged under Its franchise to limit itself to
a 5-cent fare
Hempstead and Belmont Park.
V. 94, p. 1696.
For Statement by V. P. & Gen.
Mgr. W. 0. Wood showing Co's. Condition.
See V. 109, p. 676.
,
between
than 10 cents for a 19-mile ride.
(V. 99. p. 407.)
STOCK AND BONDS—
Date.
Interest.
more
Common, $750,000 ($50)
Pref 5% cum $250,000 ($50)
First mtge $1,000,000 goldf
($1,000)
Outstanding.
1902
LastDiv.
$750,000
250,000 No dlv. yet
1.000,000 Nov 1 1942
4«gM-N
c&r.ntf{Interest paid by Treasurer,
„
Bonds.—Are subject to call
EARNINGS.—For
years
Year—
Gross.
1919
1918
New York.
(Citizens' Sav. & Tr. Co., Cleveland, O..Trus.
at 107 on 30
d§ys* notice, but no sinking fund.
ending Dec. 31:
Net(aft.Tax.) Oth. Inc. Int.,Rent, &c.
$19,968
$1,117
$72,866
33,446
584
75,614
$567,705
507,629
-
Deficit.
$51,781
41,584
ROAD.—Operates an electric line connecting Mineola,
Hempstead and
Freeport, 7.84 miles.
Also operates line from
Hempstead west 5.58
to Queens, where connection is made
with the tracks of the
Long
Island Electric Ry. Co.
Also a line 17.01 miles long from
Freeport westerly
via Rockvllle Centre, Lynbrook and
Valley Stream, to a connection with the
Kings County Elevated Ry. at Brooklyn.
Also a line from Queens to
Mineola via Jericho Turnpike, 5.86 miles.
Total, 36.29 miles.
Total,
Including second track, 41.31 miles.
36 passenger and 8 other care.
OFFICERS.—Pres., O. L. Addison, Penn. Sta., N. Y.; V.-P. & Gen.
Mgr.. W. O. Wood, Long Island City, N. Y.; Sec. &
Treas., Frank E. Heff.
—V. 107, p. 1101; V. 108,
p. 1165; V. 109, p. 676, 1462; V. Ill,
p. 1084.
miles
NEW YORK & QUEENS COUNTY RY.
32,048 shares out of total Issue of 32,350 is owned
by the Interborough
Rapid Transit Co., which also owns one-half of the stock of the
Long Island
Electric Ry. and the New York & Long Island
Traction.
ORGANIZATION.—Incorporated June 29 1896 and reorganized on
June 30 1899.
Purchased the various lines of railroad in
Long Island City
known as the Newtown Ry. Co., the Riker Ave. &
Sanfords Point RR., the
Steinway Ry., the Long Island City & Newtown Ry. and the
Flushing &
College Point Ry.
In May 1902 the Queens Ry. was consolidated with
it,
and thereupon Increased its stock from
$2,500,000 to $5,000,000.
The
Queens Ry. succeeded to the property sold at foreclosure of the New
York
& North Shore Ry., comprising a line of 6 miles from
Flushing to
with franchises for lines between
Flushing and College Point,
Jamaica,
Flushing ana
Bayslde and Manhasset.
V. 74. p. 1197.
The new Queensboro Bridge across Blackwell's Island
was opened in
1909.
On Sept. 19 1909 the City of New York's
municipal trolley across
the bridge began operation.
The round trip fare Is 5 cents.
On Dec. 16
1909 New York & Queens County Ry. was granted a
permanent franchise
to run cars over the bridge.
Operation began on Feb. 5 1910.
V. 90,
p. 373.
Through passengers only are carried across the bridge and no extra
fare is charged.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Stock
Maturity.
$5,000,000 ($100)
$3,235,000
Flushing & College Point lst\ 1895
5 g J-D
50,000
1925
mortgage $50,000 gold
/:New York Trust Co., Trustee.
Newtown Ry first mortgage
1894
5 g J-D
150.000 Dec 1 1924
$150,000 gold
New York Trust Co., Trustee.
1892
Steinway Ry riret mortgage
beinway
first
6 g J-J
1.500,000 July 1 1922
$1,500,000 ($1,000) g—.c* Int. at Guaranty Tr. Co., N. Y.
City, Trus.
New York & Queens County
ew
1896
4 g_A-0
1.300,000 June 29 1946
first consol mtg $3,000,000 Mercantile Trust
Co., New York, Trustee.
gold $1,000 each
Interest at office of company. New
York.
First & refunding mtge, $10,-1 1906
4 g M-N *■ See text
Nov 1 1936
000,000 gold ($1.000)—c*fWindsor Trust Co., New
York, Trustee;
Current liabilities Dec. 311919
♦5,293 778
_
CITY, N.
•Includes $5,208,343
Of the
loans
Y.
new
from
bills and accounts owing associated
companies.
$10,000,000 mtge., $2,086,827 are deposited as collateral for
Interborough Rapid Transit and $3,065,000
are
reserved
for
prior liens.
No sinking fund and bonds are not subject to call.
Under the
N". Y. & Queens Co. 1st Cons. M. there were
originally $2,500,000 bonds out¬
standing, but the company having defaulted In payment of Int., reorganiza¬
tion was made, under which the holders surrendered
$1,200,000, interest
was reduced to 4%, and the Mercantile Trust
Co., N. Y., was made the new
trustee.
CO.
ORGANIZATION.—Incorporated April 1
First
($1,000)
Cal.
Interest.
$6
$600~0()0f 1895
SVJ-D"
c&r_ntfj Hamilton Trust
_
_
Year—
1919—
1918
M
company is
in Arkansas on March 17 1903 and Is a
consolidation of the Little Rock Traction &
Electric Co. and the Little
Rock Edison Electric
Light & Power Co.
Operates all street railways in
Little Rock and Pulaski
Heights and all the electric lighting and power
business in Little Rock, North Little Rock and
Pulaski Heights.
Railway
franchise extends to Sept. 28 1951;
lighting franchise unlimited in time.
In the latter part of 1912
acquired control of the Garland Power & De¬
velopment Co., which controls water powers on Ouachita
River, 45 miles
from Little Rock.
Hydro-electric developments with a capacity of 28,000
h
p. are contemplated.
V. 95, p. 1746.
In Feb. 1916 Increased the com. stock from
$1,500,000 to $2,000,000 to
acquire the assets of the Merchants' Lighting Co., a
controlling interest in
the Central Heating & Mfg. Go. and
provide for further acquisitions, exte.,
<fcc.
$411,700 of the new stock was sold at par; balance held in
treasury.
Fare Increase.—Effective June 3 1920 the co. was
auth. by the Ark. Corp.
Comm. to charge a 6-cent fare.
On May 17 1920 the city council
adopted
an ordinance
amending the contract of the co. with the city so as to permit
the co. to charge a 6-cent fare.
V. 110, p. 2657.
In Jan. 1920 the co. Issued $1,000,660
1-yr. 7% notes proceeds being
used to retire $600,000 6% notes due at that time and
to pay for impts.,
&c.
V. 109, p. 2439; Y. 110, p.
167, 360.
In July 1920 the co. applied to the Ark.
Corp. Comm. for auth. to issue
$313,000 bonds for add'ns and impts.
V. Ill, p. 188.
mtge
Date.
($100)
EARNINGS.—For
and
ORGANIZATION.—Incorporated
First
Stock $600,000
I
Elec
1st
ORGANIZATION.—This was formerly the Mineola
Hempstead & Freeport Traction (incorp. Feb. 27 1899), but name
changed as above Sept. 22
1902, and stock Increased from $125,000 to
ROCK, ARK.
LITTLE ROCK RAILWAY &
ELECTRIC CO.
(see under New Orleans) owns
Amer. Cities Co.
67
STOCK AND BONDS—
The said bonds
redeemable at 105 and int.
V. 69, p. 906.
ROAD.—The system, with the Queens Railway, embraces
71.87 miles of
trolley track, including main line, 37.42 miles; second track, 33.18;
sidings,
1.27.
Rails 70 to 116 lbs., standard gauge; 203
pass, cars, 32 others.
REPORT.—For fiscal
Ymr-
1919-20
1918-19
1917-18
1916-17
are
years ending June 30;
Qross.
Net.
Other Inc.
$1,166,990 def %\2l, 151
1,044,334 de/161,988
947,659 de/192,963
1,273,584
de/30,821
$6,136
7,284
1,699
2,843
lnt.Taxes.&c. Deficit.
$348,699
$473,715
362,251
516,954
357,124
548.389
356,423
384,401
OFFICER8.—Pres.. W. O. Wood; V.-P., W. L. Pepperman;
Sec., H.
Treas., J. H. Campbell.—V. 109, p. 888; V. Ill, p.
491, 589.
M. Fisher;
MANHATTAN AND QUEENS TRACTION
CORPORATION.
Receirership.—On Nov. x5 1917 Arthur C. Hume and William R.
Begg
appointed receivers by Judge Chatfield in the U.S. Dist. Court for the
were
Eastern Dist. of N. Y.
In Nov. 1917
a
judgment against this
$1,158,522 was awarded the Gas & Elec. Securities Co.
promissory notes.
company for
of unpaid
on account
ORGANIZATION.—Incorp. in N. Y. on Nov. 4 1912 to take over the
rights and property of the South Shore Trac. Co. in New York
City (see
under Patcnogue, and also under Manhattan &
Jamaica Ry. in V. 95, d.
1207, 420: V. 94. p. 1696.)
THE LONG ISLAND CONSOLIDATED ELECTRICAL COS.
ORGANIZATION.—Entire stock is owned by the Long Island RR.
Incorporated In New York. Owns one-half the stock (the Interborough
Rapid
Transit Co. owning the other half) and bonds of N. Y. & L. I. Trac. and
Long Island Elec. Ry.
Stock $25.000 ($100)
AH owned by Long Island RR.
Asked Public Service Comm. for permission to issue
$1,500,000 stock and
$1,500,000 1st M. 5% bonds, but on March 10 1914 the P. S. Comm.
auth¬
orized only $765,000 capital stock and recommended the Issue of
$807,000
bonds at .85.
No stock outstanding;
OFFICERS.—Pres., Ralph Peters; V.-P., C. L. Addison; Sec., Frank E.
Haff; Treas., J. F. Fahnestock.—V. 83, p. 890.
Action on the bond issue was deferred until the
company should have filed
its proposed mtge. for an auth. amount of
$10,000,000, of which the
Long
ff.Jan.
Island
Electric
Ry.—A
trolley road.
1906 control passed to the Interborough Rapid Transit Co. and
the Long Island Consolidated Electrical
Companies, each owning one-half
the stock and bonds.
ORGANIZATION.—Chartered March 13 1897 as New York & North
Shore Ry.
On Oct. 11 1899 was consolidated with the former Long Island
Electric Ry., new company having $2,100,000
capital stock and $2,100,000
bonds.
On May 7 1902 the lines north of Jamaica were sold under fore¬
closure to the Queens Ry. Co., which
company was then merged in the
New York & Queens County Ry.
On Aug. 28 1903 old name of "Long
Island Electric Ry." was resumed.
In Aug. 1909 stock was reduced from
$2,100,000 to $600,000 by cancellation of $1,500,000 stock originally Issued
to represent the piece of road which
subsequently became the Queens Ry
and now forms part of the N
Y. & Queens County Ry.
V. 89, p. 42. 593
Fare Increases.—In Dec. i919 was auth. by the P. S. Comm. to
increase
the one-way fare between Jamaica and Far Rockaway from x0 to
15 cents
and between city lines and Belmont Park from 5 to 10 cents.
V. Iu9,
p. 2263.
only
$20,000
subscription stock.
co.
proposed
presently to issue said $1,500,000 with the permission of the
P. S. Comm.
V. 96,
p. 790; V. 98, p. 523.
Fares.—On Sept. 10 1918 Judge Chatfield in
the
Federal Court
at Brooklyn, N. Y., refused to
recognize the receiver's claim for a 7-cent
fare.
V. 107, p. 1101.
On Oct. 15 1919 Justice Edward R. Finch granted
an alternative writ to
Corporation Counsel Burr prohibiting P. 8. Com¬
missioner Nixon from taking any action on the
application or the receivers
for an increase in fares.
\. 109, p. 1527; see also V. 109, p. 1366.
On
Jan. 23 1920 this action was upheld
by the AppeUate Division of the 8upreme
Court
V. 110, p. 465.
On Sept. 18 1920 the co. notified the P. S.Comm.
that it would resume operation on lines which had been closed down
about
4 weeks previous (the co. alleging the revenue derived from the 5-cent fare
to be insufficient),
at a 5-cent fare.
The co. has applied to the Comm.,
however, for auth. to increase fares from 5 cents to 13 cents.
V. 411, p.
1278
EARNINGS.—For years ending June 30:
Gross.
Net,aft.Tax Oth.Inc. Rents.
$270,150
$25,535
$1,876
$24,298
1917-18
262.930
36,161
1.724
21,987
12 Mos.—
1918-19
_
Interest.
$94,641
92,733
sur-orDef.
def.$91,529
deL76.835
Guar., p. A L, by SoutbSinking fund of $5,000 per annum began in 1910.
Pacific Co.
Riverside A Arlington Ry. 1st Mtge,—Not callable.
Sink, fund began
the Olty of New York to operate a street
Queensboro Bridge from the Manhattan terminal
ROAD.—lias a franchise in
surface railroad over the
ern
thereof, along Thomson Ave., Hoffman Boulevard, and other streets and
avenues in the Borough of Queens to the boundary line between the Citj
of New York and the County of Nassau, together with the right to operate
Sept. 5 1900 as follows: After payment of exps. and Int. the entire net in¬
and entire net proceeds from sale of property applicable under trust
deed to be set aside each year to and incl. 1904; in 1905 and thereafter until
all bonds are paid, 75% of net income and proceeds from sale of property.
come
upon the Queensboro Bridge.
The line has been completed and cars are ifoperation to the intersection of Sutphin Road and Lambertville Ave. it
Queens.
An additional 3.3 miles of road from this point to Central Ave
and Springfield Road was to have been completed by Aug. 23 1917. but
owing to war conditions, an extension of time was granted by the Board
of Estimate of N. Y. City.
In June 1918 Judge Chatfield in the U. S.
Dist. Court for the Eastern DLst. granted a permanent injunction restrain¬
ing the city from forfeiting the contract of the co. for failure to complete
this line.
V. 106, p. 2450.
On Feb. 27 1920 the U. S. Circuit Court of
Redlands St. Ry. Is* Mtge. 5% Bonds.—$50,000 are reserved for the
previous issue of 6% bonds.
No sinking funds and bonds are not callable.
Redlands Central Ry. 1st Mtge.—Sinking fund began July 1 1912 and retires
$1,000 per annum to July 1 1917, $2,000 next 5 years. $3,000 per annum fol¬
lowing 5 years, $4,000 next 5 years and $5,000 following 5 yrs. Not callable.
Los Angeles A Redondo 1st Mtge.—Sinking fund retires $10,000 per annum
out of surplus and net earnings.
Bonds are not redeemable.
San Bernardino Valley Traction 1st Mtge. bonds are subject to call at 105.
Int. payable at First Nat. Bank, Redlands, and at First Nat. Bank.
Los Angeles.
'
San Bernadino Valley Trac. Is* A ref. Mtge. bonds are red. at 105.
Sink,
fund retires at 105 and Int. 12 bonds during 1913-15 (Incl.) during 1916 pays
off 13 bonds; during 1917 14 bonds; during 1918-27 pays off 25 bonds yrly.;
during 1928-30 37 bonds yrly.; J931 and 1932 38 bonds each year.
Ontario A jSan Ant. Heights Is* Mtge. bonds are red. at 101 and Int.
Sink.
und 1914 and following 4 years 1% of outstanding bonds. 2% thereafter.
Appeals reversed this decision.
V. 110, p. 970. The extension from the
L. I. RR. station at Jamaica to Lambertville Ave. was completed April
1919.
Total miles single track equivalent, 21.
V.-Ps.. R. F. Carbuttand
Coleman; Asst. Sec. A Asst
V. Ill, p. 792, 1278.
FICER8.—Gen. Mgr., B. Walter Duncan;
Weaver;
Sec.
Ad
&
< 2
Treas., Lindley G.
V. 110, p. 465, 970;
LOS
)I H ELECTRIC
ANGELES,
CAL.
EARNINGS.—For
RAILWAY.
tl t stock except directors shares Is controlled by Southern Pacific Co
VG AN IZ AT ION.—Incorp, in California on Sept. 1 1911 as a merge)
It following subsidiaries of the Southern Pacific Co. (V. 93, p. 667):
San Bernardino Valley Traction Co
aclftc Electric Ry.
Redlands Central Ry.
Los Angeles lnterurban Ry.
San Bernardino lnterurban Ry.
Los Angeles & Redondo Ry.
Los Angeles Pacific Co.
Riverside A Arlington Ry.
During 1912 acquired the right of way and all rail lines and equipment o;
the Pacific Electric Land Co. and purchased the property of the Ontari*
A San Antonio Heights RR.
.
Operates under agreement over the Riverside Rialto A Pacific RR.—
passenger service only.
*
Fares.—Inl Sept.
1918 was auth. by the Cal. RR. Comm. to in
crease fares hy 20% on suburban lines, the new rates being based on a
zone system.
V. 107, p. 1101.
In Dec. 1918 the Comm. reaffirmed this
decision except that the minimum fare charge was reduced from 10 to
5 cents, V. 107. p. 2290.
In Sept. 1920 was auth. by the Cal. RR. Comm.
to increase all rates not to exceed 20%.
V. Ill, p. 1084.
In Aug. 1920 was auth. to issue $200,000 bonds to refund a like amount of
Riverside & Arlington Ry. 4s which matured Aug. 14 1919.
The bonds
were owned by the Southern Pacific Co. which was willing to accept Pacific
in payment therefor.
STOCK AND BONDS—
Date.
Stock
$100,000,000
($100)
Elec. Ry. bonds
V. Ill, p. 693.
ref
1910
6 F-A
223,000 Feb 1 1935
Heights 1st M
$1,000,000 ($1,000) sf.ntf Int. at Southern Tr. Co., Los Ang., Trustee.
1900
4 g J-D
480,000 June 1 1930
$500,000
gold ($1.000)
c*.ntf Int. at Union Trust Co.. San Fran.. Trustee.
1901
5 g J-J
480,000 July 1 1941
Cal Pacific Ry 1st mtge gold
($1,000) guar
c.ntf, Int. at Co.'s office In N. Y. & Chase Nat.Bk.
1898
5 J-D
10,000 June 101928
Los Angeles-Paclflc RR first
mort gold $1,000,000c«.ntf Int. at Citiz. Tr. & S. Bk., Los Ang.,Trustee.
1901
5 A-O
1,465,000 Apr 1 1931
Los Ang-Pac RR 1st con mtge
$1,500,000 g ($1,000)..ntf Int. at Crocker Nat. Bank, San Francisco.
1902
5 g M-N
74.000 May 1 1942
Los Ang Her B & Red 1st M
$500,000 gold ($1,000)-ntf Title Ins. & Tr. Co., Los Ang., Trustee.
Pas & Mt L 1st M
Los"Angeles-Pacific RR first f 1903
5 g M-S
3,104,000 Sept 1 1943
$5,000,000( Int. at Los Angeles Tr. & Sav.Bk., Tr., or at
c*.ntf I
U. S. Mtge. A Trust Co., N. Y., Oo-Trus.
Co genf 1906
5 g J-J
1,096,000 Jan 2 1946
consoi
mtge
$12,500,000-{ Int. at Union Trust Co., San Fran., Trustee,
gold ($1,000) sinking fundi
or at Farmers*& Merch. Nat.Bank, Los.
c*.ntf I
Angeles, or Chase Nat. Bank, New York.
Los Ang-Pac Co 1st ref mtgei
1910
4 g J-J
8,298,000 Jan 1 1950
$20,000,000 g ($1,000) c*tf/Union Trust Co. of San Fran., Trustee.
Los Ang & Redondo 1st mtge f 1902
5 g J-J
410,000 Jan 15 1932
$500,000 g ($1,000)Int. at Union Trust Co.. San Fran., Trustee.
[and RR. co's office, N. Y. City.
ref
mtge
gold ($1,000) sf
Los Angeles Pacific
8an Bernard
Vail Trac 1st Ml
1901
5 A-O
44,000
Oct 1 1931
c*_ ntf [Title Ins. A Tr. Co., Los Ang., Trustee
1903
5. M-S
750,000 Sept 1 1933
Tr 1st
gold Int. at Los. tng. Tr. A S. Bk. of Cal..Trustee
sink fund ($l,000)c*Ar.ntf
1899
6 F-A
50.000 Aug 1 1918
Redlands St Ry 1st M g $50.gold $250,000--
San Bernardino Valley
A ref mtge $1,000,000
000
($1,000,
at par;
Redlands
no
Ac)
redeem Title
Ins.
A
Tr.
Co.,
Los
Ang.,
Trus
Int. at First Nat. Bank, Redlands. Cal.
sink fund., ntf
1901
5 M-S
27,000 Sept 1 1931
1st M gold
ntf Title Ins. A Tr. Co., Los Aug., Trustee.
St Ry
$160.000
Int. at First Nat. Bank, Redlands, Cal.
1907
5 J-J
44.000 July 1 193?
1st M
gold $500,000 ($1,000)-ntf Int. at Los Ang. Tr.AS B.of Cal., Trustee.
Redlands
1919
1918--
1917--
Central Ry
BONDS.—Pacific Elec. Ry. 1st ref. mtge. are to provide funds to retire
underlying bonds; also for acquisitions and for corporate purposes. Bonds to
be fixed at time of issue by direc¬
tors, not exceeding, however, 5% per annum.
The bonds are issued in
series, Series "A" being the only series issued.
Denom. Series "A" $1,000
—other series, $1,000, $500 and $100.
Sinking fund $10,000 per year.
Series "A" Is subject to call from Sept. 1 1916 at 110 and int.
Other series
subject to call since Sept. 11916 at price to be fixed by board of directors.
bear Interest at such rate or rates as may
Pacific Elec. Ry. 1st Mtge.—A sufficient amount Is reserved to retire
prior Issues.
Sinking fund Is $5,000 per annum, commencing Jan. 1
1907, for 5 years; then $10,000 per annum to Jan. 1 1917; $15,000 per
annum to Jan. 1 1922;
$20,000 per annum to Jan. 1 1927; $25,000 per
annum to Jan. 1 1932;
$30,000 per annum to Jan. 1 1937 and $35,000 annu¬
ally thereafter, said sinking fund to be used in purchase of the bonds, but
fund may be invested in other securities if bonds cannot be obtained at par.
Los Angeles & Pasadena Is* Mtge.—Bonds bear the guaranty of the Los
Angeles Ry. by end.
Sink, fund of $10,500 per year out of net earns, from
Dec. 1 1908 to and incl. 1926; callable at 105 on any int. date.
Pasadena & Mt. Lowe bonds are guar. p. A 1. by both Los Angeles Ry
and Los Angeles A Pasadena Elec. Ry.
A sinking fund for those bonds be¬
gan 10 years from date of bonds of $5,000 per ann. for first 5 years, $7,500
per ann. for second 5 years, $10,000 per ann. for next 5 years and $12,500
per annum for remaining 5 years.
Red. at 104 and interest.
California Pacific Ry. 1st Mtge. is for no stated authorized amount, but
is limited to $20,000 per mile of completed track.
No sinking funds and
bonds cannot be called. Guar. p. A1. by Los Ang. Trac. Oo.; see V. 75 Jp.76.
Title insurance A Trust Co., Los Angeles, Trustee.
Los Angeles-Pacific RR. Is* Mtge.—Red. on any int. date at 105 and int.
Sinking fund began June 10 1908 until June 10 1926, $10,500 per year out
of net income only.
Int. also payable at Illinois Tr. A Sav. Bank, Chic.,
and Chase Nat. Bank, N. Y.
Los Angeles-Pacific RR. 1st Cons. Mtge.—Not callable.
Sinking funa
began April 1 1911 and retires $10,500 annually (out of net earns, only) to
and incl. April 1 1929. Citizens' Trust & Sav. Bank, Los Angeles, trustee.
Lot Angeles Hermosa Beach A Red. Ry. 1st Mtge.—Int. pay able at Crocker
Nat. Bank, San Fran.
Sink, fund began May 1 1913 and retires $10,500
per ann. (out of net income only) to and incl. May 1 1942.
Not callable.
Los Angeles-Pacific RR. Is* A Ref. Mtge.—Sufficient bonds are reserved to
retire prior liens.
A sinking fund began in 1908, to which $50,000 per ann.
is payable first 5 years, $60,000 per ann. next 5 years, $70,000 per ann.
next 5 years, $80,000 yearly following 5 years, $90,000 per ann. next 5 years.
$100,000 yearly following 5 years and $150,000 per ann. thereafter.
Not
subject to call.
Los Angeles Pacific Co. Gen. Consoi. bonds have a sink, fund, 1911 to 1915,
$10,000 per ann.; 1916 to 1920, $15,000 per ann.; 1921 to 1925, $40,000
ann.; 1926 to 1930, $75,000 per ann.;
1931 to 1944, $80,000 ann., and 1945
to 1946, $90,000 per ann.
Of the $12,500,000 auth., $5,000,000 are re¬
served for prior liens.
Bonds are not callable.
Los Angeles Pacific Co. Is* Ref. Mtge.—Subject to call as a whole or in
part on and after Jan. 1 1915 on any int. date at 105 and int. on 3 months'
otice.
Interest payable at company's office or agency In New York.
years
Gross
Earnings.
Calendar
Year—
—
—
—
ending Dec. 31:
Net (after
Other
Taxes).
Income.
Interest,
Balance,
Rents. Ac.
Deficit.
$3,800,322df $2,767,726
3,541,433
1,695,143
3,441,159
885,116
$897,772' $134,824
$11,278,016
10,331,916
9,267,120
154,101
65,730
1,692,189
2,490,313
an lnterurban electric railway system centering at
Angeles, extending into the counties of Los Angeles. Sao
Bernardino
Orange and serves the cities of Pasadena, San
Bernardino
KOAD.— Operates
Los
Riverside and
Riverside, Colton, Redlands, Pomona, Ontario, Santa Ana, Long Beach, Co.
Venice. Ocean Park. Santa Monica, Redondo. San Fernando. OwensTotal miles operated, single track, 1,092.221, of
which 617.616 miles main track, 318.491 miles second and other main track
and 156.114 miles of sidings and turnouts.
Standard gauge.
Owns 46
electric locomotives, 2 gas electric locomotives, 603 passenger and combina¬
run*
mouth and Lankershim.
889 freight cars and 97 service and miscellaneous
i power station, 44 sub-stations and 4 portable sub-stations.
Power
purchased from Southern California Edison Co.
tion cars, 31 express cars,
ears;
OFFICERS.—Pres., Paul Shoup, San Francisco; V.-P., II. B. Titcomb;
Sec. A Aud., H. A. Culloden, Los Angeles; Treas., M. S. Wade; Gen. Mrg.,
J.
V.
McMillan.
General offices,
Pacific Electric Bldg.. Los Angeles.—
107. p. 2290; V. 108. p. 1275, 1937; V. 109, p. 578, 776, 1180; V. 110,
1415; V. 111. p. 190, 693, 793, 1084, 1370.
ANOELES
LOS
mtge
Ont A San Ant
and
'
p.
Interest.
Outstanding.
Maturity
$34,000,000
$100,000,0001 1911
6 M-S
31,950,000 Sept 1 1961
gold see text
c*.tf (Int. at U. S. Mtge. & Tr. Co.,N. Y., Trustee
1902
5 g J-J
8,374,000 Jan 1 1942
Pac El Ry 1st mtge $10,000,000 gold ($1,000)
c.ntf Int. at Union Trust Co., San Fran., Trustee.
1898
5 g J-J
950,000 Jan 1 1928
Los Ang A Pas El Ry M $1,000,000 g guar ($1,000) c* Int. at 111. Tr. & Sav. Bk., Chic., Trustee,
or at Chase Nat. Bank, New York.
Can be called at 105—ntf
First
fVoL. Ill
RAILWAYS
ELECTRIC
68
RAILWAY
CORPORATION.
$20,000,000 stock, except directors' qualifying shares,
Mr. H. E. Huntington,and, along with certain amounts of differ
bond issues of this company and the Pacific Electric Ry. (see above). is
entire
The
owned by
ent
pledged as security for the Huntington Land A improvement collateral
trust issue—see V. 98. p. 527.
The Los Angeles Ry. Company was organized Dec. 2 1913 to merge thiLos Angeles Ry. Corporation and its subsidiary, the City Ry. Co. of Los
Angeles (V. 97, p. 1733). but on March 5 1915 the Cal. RR Comm. denied
Its application to issue $20,000,000 stock In exchange for the $20,000,000
stock of the Ry. Corp. and the $5,000,000 stock of the City Ry. and to
execute a mtge. under which $23,544,000 bonds were to be Issued in ex¬
change for outstanding bonds of the two companies or bond9 assumed by
them.
V.
100, p.
901, 982.
The Los Angeles Railway Corporation
was incorporated in
California on November 7 1910 as successor to Los
Angeles Railway Co. and acquired all the city narrow-gauge lines owned
by Pacific Electric Railway and Los Angeles lnterurban Railway, and
those portions of Los Angeles A
Redondo Ry. and California-Pacific
Ry. Co. lying north of an east-and-west line running through Hawthorne
and Athens, thus comprising all the street railway business of Los Angeles.
V. 91, p. 1386.
More than 85 miles of track ison private right of way. Ail
main line and practically all down-town line franchises extend beyond 1940.
Owns entire $5,000,000 stock of the City Ry. of Los Angelos, incorporated
In Dec. 1910 to build new lines for the corporation.
V. 91, p. 1766.
Favorable Decision.—In a decision handed down April 6 1915 the District
Court of Appeals in Los Angeles sustained the right of the company to
charge 10-cent fares from the city to Eagle Rock, Glassel and other points
In that district.
See V. 100. d. 1438.
;
Valuation.—V.
110,
p.
167.
STOCK AND BONDS—■
Interest.
Date.
Stock $20.000.000
Los Angeles Ry Corp 1st A ref)
M $20,000,000 g ($1,000) \
sinking fund
Ang Co. Ry M
Los
Outstanding.
$20,000,000
Maturity:
1910
5 g J-D
' 14,880,000 Dec
1 1940
Los Angeles Trust A Savings Bank. Trustee.
_c*l
$5.000.-(
5 g A-O
1899
000 gold ($1,000 each) _c*fInt. at
Los Angeles Trac 1st cons Ml
1898
4,722.000
Oct 1 1938
Union Trust Co., San Fran., Cal., Tr.
5 g J-D
250,000 Dec 1 1938
Co., St. Louis, Trustee.
gold $250,000 ($1.000)
[St. Louis Union Tr
City Ry of Los Angeles 1st M ( 1911
5 F-A
4,196.000
Feb 1 1941
$5,000,000 ($1,000) gold.c*[Int. at Los Ang. Tr. & S. Bk., Los A.. Trus.
A ref. M. bonds is payable at office of trustee.
New York, and by arrangement at Anglo A London
Bonds are not subj. to call.
Bonds have sk. fd.
of $10,000 per month (incl. s. f. on underlying bonds) to be invested in
first and ref. bonds at 105 and interest, or in approved securities; first
Bonds.—Int.
1st
on
Co.,
Bankers Trust
Paris Nat. Bk., San Fran.
A ref.
purchased for 8. f. to be kept alive, $1,233.000 bonds are held
V. 92, p. 262; V. 94. p. 1383; V. 95, p. 1273.
On 30 days
be made payable at the National City Bank, N. Y.
Int.
on the Los Angeles Trac. issue paid at Chase Nat.
Bank
New York. $191 000 Los Angeles Ry. Co. mtge. bonds in sinking fund and $278,000 canceled.
City Ry. Co. of Los Angeles 1st mtge. bonds have a sinking fund of 2% per
annum of principal amount of bonds outstanding, which began Jan. 1 1916:
$433,000 bonds in sinking fund.
bonds
in sink. fund.
notice int.
may
EARNINGS.—For years ending Dec. 31:
Gross.
*Expenses.
Net.
Fiscal Year—
$7,403,589
$5,579,541
6,580,507
4,989,722
1917
6.148,011
4,063,218
*
Excluding depreciation.
1919—
1918
$1,824,048
1,590,785
2,084,793
Int. & Taxes. Surplus.
$1,576,125
$247,923
1,541.200
49,585
1,548,594
536,199
PROPERTY.—Comprises 388 89 miles of track; 60. 72, 87 and 116-lb
Owns and controls 910 passenger cars, of which 524 are of P-A-Y-E
rails.
type, 183 center, 45 Birney Safety and 168 misc. cars and 104 work cars, Ac.
Has favorable power contract with the Southern California Edison Co.;
the current being distributed through the corporation's own transmission
system,
comprising 440.5 miles of line and
10 sub-stations.
OFFICERS.—Pres., H. E. Huntington; V.-P., W. E. Dunn; Gen.
Mgr., G. J. Kuhrts; Sec. & Treas., C. A. Henderson.—V. 97, p. 521, 1733;
V. 98, p. 523; V. 100. p. 1348, 1438; V. 101, p. 370; V. 103. p. 320: V. 108.
p. 683
V. 109, p. 577, 776, 1179; V. 110, p. 167, 1415; V. Ill, p. 792.
LOUISVILLE,
LOUISVILLE
RAILWAY
KY.
CO.
ORGANIZATION.—Incorp. in Kentucky
on Jan. 22 1867 and owns all
the City of Louisville and its suburbs.
Franchise
partly for 99 years from 1886 and partly perpetual.
On Oct. 20 1917 the company filed amended articles of Incorporation In¬
creasing its auth. pref. stock from $2,500,000 to $3,500,000 and its com
stock from $5,500,000 to $8,500,000, in connection with the dissolution of
the street railways in
are
the Louisville Traction Co.
The Louisville A
the Louisville
securities
lnterurban RR. has
Ry. to construct
have
been
issued
a
been organized in the interest of
system of urban and lnterurban lines
No
except $4,000,000 stoc^ (increased to that
to Louisville Ry. Co.
In Jan. 1911 LouU
in February 1913)
acquired the Louisville A Eastern RR. (all of whose
bonds, construction notes, receivers' certificates, Ac., and about all the
stock, was owned by Louisville A lnterurban). sold at foreclosure on Jan 3
1911.
V. 92, p. 59. 262.
"""• «
Dissolution of Holding Co.—On Nov. 22 1917 the Louisville Traction Co.
which owned all the stock of the Railway company, was dissolved in order
amount
vilie A lnterurban RR.
to reduce Federal and State taxes.
for Louisville
Preferred stockholders exchanged their
common
Rv. pref. stock on a share-for-share basis; holders of
stock received seven-tenths of Railway common for each share of
Traction
common
stock
OCT., 1920.
ELECTRIC RAILWAYS
Fare Increase.—On July 1 1918 the
Louisville & Interurban RR. increased
fores ou all suburban lines to
about 24$ cents per mile.
V. 107, p. 402.
On
1^20 these rates were further
increased, to 3 cents per mile.
V. Ill,
p. 1661.
Report
of Committee
Proposing
See also V. Ill,
p. 692, 1083, 1278.
STOCK AND BONDS—
Common $8,500,000
Pref 5% cum
$3,500,000
Service-at-Cost
Date.
Interest.
_
A&O
Plan.—V.
Ill,
Outstanding.
-Calendar YearsYears ending June 30
1919.
1918.
1910-17.
1915-16. 1914-15
$535,158 $479,072 $404,393 $334,033 $331,595
Operating exp. and taxes.. 429,489
347,451
283,890
218,363
230,304
Gross earnings
188.
p.
.
,..
$8,323,600
See text.
3.500,000 Oct'18,244%
Balance
gold
3-year notes
2^ mtge $2.-1 1900
44$ g M-S
2,000.000
($1,000)—tf/Interest payable in Louisville.
1918
6%
Mar
1
684,000
Dividends.—5%
paid
was
on
Co., Louisville, trustee.
pref. stock to and incl. Oct. 1918.
(a)
None
Gross
INDIANAPOLIS & LOUISVILLE TRACTION RY.—A trollev
road.
Control.—In July 1919 the Interstate Public Service
Co., a subsidiary of
the Middle West Utilities
Co., acquired control of the company by paying
$330,000 for the capital stock and assuming the bonded debt.
V. 109, p.270.
ORGANIZATION.—Incorp. in March 1912 in Indiana as success >r to
the Indianapolis & Louisville
Traction Co., sold at foreclosure on March
21
1912.
V. 94, p. 911.
Franchises in cities and towns are for 50 years from
1905; remainder is on private right of way.
OFFICERS.—Same
Louisville
-P.,
Mark
Storen.
Scottsburg. Ind : Sec.. Nathan
G.
Fyster.
Pitts¬
burgh, Pa.; Treas.Jas. C. Chaplin, Pittsburgh. Pa.—V. 109.
p. 270.
November
Electric
Co.
under the general railroad laws oi
All of the $1,000,000 stock of the United
$232,950 stock of the New Albany Water-Works
1905.
and
Co.
are deposited under this
company's mtge. Has purchased the electrical
equipment of the Kentucky & Indiana Bridge Co. and leases the
bridge
for 25 years, thus
affording independent entrance into Louisville.
Com¬
pany does electric lighting and express and freight business in addition
to
passenger business.
Road is mainly on private right of
way.
Rates.—On May 18 1918 this company's application for increased
freight
rates was approved by the Inter-State Commerce
Commission. On April 16
1919 was auth. by the I.-S. C. Comm. to increase fares between New
Albany
and Louisville from 5 to 7 cents.
STOCK AND BONDS—
Date.
Common $3,500.000
Pref $1,500,000 Series A & B.
1910 and thereafter.
Dividends.—Dividends from July 1 1906 on both classes of
pref. stock
paid at rates called for up to April 1909. when %% was paid on both
classes; same amount quarterly since to April 1920.
were
ROAD.—Operates 20 miles
branching
connects
off at
with
of track, Louisville to Sellersburg. with a line
and running to Charlestown.
At Sellersburg
Louisv. Trac. Ry. Co., running to
Watson
Ind.
&
Seymour, where
connection is made with the Ind. Col. & So. (Interstate Public
Service Co.),
thus forming a through line between Louisville and
Indianapolis.
The
line from Louisville to Charlestown will form
part of a through line betweeo
Louisville and Cincinnati.
Standard gauge.
70-lb. T rail.
OFFICERS.—Pres., Harry Reid, Louisville, Ky.; V.-P.. Ik D. Spragle.
New Albany, Ind.; Sec., Ira E.
Guthrie, Indianapolis; Treas., J. F. Stratton
New Albany, Ind.—V. 82, p. 509, 886; V.
94. p. 1626; V. 106, p. 1689, 1901
V. 107, p. 2376; V. 108,
p.
(1)
United Gas &
1610.
Electric Co.
ORGANIZATION.—Incorporated
In Indiana in 1902 and acquired the
Albany Gaslight <Sc Coke Co., New Albany Light, Heat & Power Co.,
Jeffersonville Electric Light, Heating, Gas & Coke Co. and
Jeffersonville
Light & Water Co.
Does entire gas and electric-lighting business in New
Albany and Jetforsonvllle. and supplies also Port Fulton, Silver Grove and
Clarkville.
Franchises, 45 years In New Albany and 50 years In Jefferson
New
as
for Louisv. &Nor.
Ry.&Ltg.Co.—V.107.p.2376.
POWER
&
LIGHT CO.
on
June 27 1916 to
take
over
V. 109, p. 677.
-
"
EARNINGS.—Combined earnings of the Choctaw Power & Lt. Co. and
Pittsburg County Ry. Co. for year ending Dec. 31 1919, gross,
$431,922;
$140,374; deprec., $50,023: charges, $62,475; surplus, $27,876.
ROAD.—The Pittsburg County Ry. operates in cities of
McAIester,
Haileyville and Hartshorne, and an interurban line, over private right of
the
uet,
between these three cities.
T.
16
passenger
cars,
23.26
11
m.
of track.
other cars,
1
Standard gauge; rail,
electric locomotive.
OFFICERS.—Pres., C. N. Mason, N. Y.; V.-P., J. A. Trawick, Boston*
Sec.-Treas.. L. W. Osborne, N. Y.; Gen. Mgr., J. O. Chestnut.
N. Y;
office, 165 Broadway.—V. 103, p. 940; V. Ill, p. 1279-
MACON,
GA.
GEORGIA LIGHT, POWER & RAILWAYS.
ORGANIZATION.—la
(See map on page 70
voluntary association formed under Massa¬
Has acquired all the com. stock of Macon Ry.
& Light Co.,
practically all the com. & pref. stocks of Macon Gas Co.,
$3,660,000 (of the $4,000,0001 stock of the Central Georgia Power Co. and
the entire capital stock of the Central
Georgia Transmission Co.
Also
>wns
$2,040,634 8% securities of its constituent companies issued for
a
chusetts laws in Sept. 1911.
new
Outstanding.
Maturity
$3,499,000
916.900
See text
First mortgage $2,500,000 gf 1905
5 g
600,000 Dec 1 1925
($500 and $1.000)
c*{Int. at Cont. & Comm. Tr. & S. Bk., Chic.,
I
Trustee, or at Eliot Nat. Bank, Boston.
Bonds.—Unissued bonds can only be Issued for 80% of cost of
property
built or acquired.
Are subject to call at 105 and int.
V. 82. p. 868.
STOCK.—The Series A pref. stock Is 6% cum., the Series B is cum. and
is entitled to 2% in 1906,
3% in 1907. 4% in 1908. 5% in 1909 and 6% lo
—
...
Interest.
Q-J
J-D
$2,000,000
432,480
.k
STOCK AND
66-70-lb.
ORGANIZATION.—Incorporated
Indiana In
Gas &
Maturity.
BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common $1,000.000-$1,000,000
Pref 7% cum $275,000
M-S
,
275,000 Feb.T9.3i2%
First mtge gold ($1,000 andl 1916
5 g M-S
1,228.000 Sept 1 1941
$500)
c*tf/Int. at Guaranty Tr. Co. of N. Y., trustee.
Bonds.—Open issue authorized.
Impt. fund of 1% per annum from
1921-1925; 1*% 1926-1929; 14$% 1930-1933; \% % 1934-1937;
2% 1938-41.
Dividends.-— Paid 34$% on
pref. in March and Sept. 1918.
In.1919,
Feb., 344%,
None since.
way,
LOUISVILLE & NORTHERN RAILWAY & LIGHTING.
Interests identified with the Middle West Utilities Co. are in
control.
Outstanding.
------
increase fares in McAIester from 5 to 7 cents.
& South. (Interstate Public Service
OFFICERS.—Pres. <fe Gen. Mgr., John E. Greeley,
Scottsburg, Ind..
Co.
light and power business of the Choctaw Ry. &
Lighting Co. sold at
foreclosure (V. 102, p. 1539) and owns all th6
$499,000 1st M. bonds and
the entire $600,000
capital stock of the Pittsburgh County Ry., incorp. in
Oklahoma June 24 1916, to take over the street
railway properties.
Fare Increase.—In Aug. 1919 the
Pittsburgh County Ry, was auth. to
..
over
Interest.
IZATION.—Incorp. in Delaware
the
Maturity
EARNINGS.—For year ending Dec. 31 1918, gross,
$235,546; net, after
taxes, $98,432.
In 1917, gross, $185,964; net, after taxes, $84,360.
ROAD.—40.9 miles of track from Sellersburg to Seymour.
Cars run
to
Traction
McALESTER, OKLA.
CHOCTAW
ORGAN
$596,200
576,750
5 g A-O
828,600 April 1 1942
($100, $500 & $l,000).c*tf/Int. at Colonial Trust Co.,
Pittsb., Trustee
Bonds.—Of remaining 1st M. bonds $650,200 are for
impts. and extens
at 80% of cost.
Subj. to call on any int. date at 105 and Int.
Sink, fund of
2% per annum began Oct. 1 1917, increasing 1% each
year to and including
April 1 1921, then reduced to 1% per annum thereafter.
Sellersburg
Indiana
mortgage
$1,000,000
1903
5 g M-S15
999,000 Sept 15 1923
gold ($500 and $1,000) -c* Int. at Cont. & Comm. Tr. &
S. Bk., Chicago
and U. S. Trust Co.,
Louisville, Trustees.
New Albany St Ry
$250,000
1902
5 F-A
250,000 Aug 1 1927
($1,000) guar prin and Int. Int. at U. S. Trust
Co., Louisville, Trustee,
Bonds.—1st M. bonds have no sk: fd., but are
subj. to call after 10 yrs at
105 & Int.
See V. 77, p. 769, 2339.
New Albany St. Ry. bonds are
subj.
to call on any Int. date at 105 & Int.
and are guar, by United Gas & Elee.
ROAD.—Operates 31.36 m. of track. Including 104$ miles leased from
Mow Albany Street Ry. and also line
between New Albany and Jefferson¬
ville. and city lines In Jeffersonville.
An extension to Louisville was
com¬
pleted In Sept. 1905.
Has a contract with "Big Four" RR. for the
use
of Its bridge over Ohio River and
with LoiUsville Railway Co.,
allowing Its
cars to enter Louisville.
Has erected an interurban terminal on Third
St.,
Louisville.
Girder rails, 90 lbs.; T and girder rails, 75 and
774$ lbs.
,
tracks of Louisville & Northern
Ry. &
Ltg. Co. and from Seymour to Indianapolis over the tracks of the Ind. Col
Corp.). Through cars from Louisville to
Indianapolis were put into operation in 1908. Standard gauge; 75-lb. T rails.
Southern
First
OFFICERS.—Chairman of the Bd., T. J. Minary; Pres., James P.
Barnes; V.-P., A. P. Humphrey; Sec. & Treas., Samuel G.
Boyle.—V. 110,
p. 1089, 1188, 2481, 2568; V. 111,
p. 188, 692,1083, 1278.
v
&
.
years ending Dec. 31:
Wf.
Net
Other
Int.&
Pf.Div.
Common Balance,
Earnings.
Income.
Tares.
(5%).
Dividend* Surplus.
1919-$3,537,234 8742.794 $105,297 $996,920
def.$14S,827
1918- 3,711,446 1,327,475
84,657 982,369 175,000 249,708
5,055
1917- 3,284,985 1.547,820
175.000 951,206 137,500 534,091
101,023
In 1919 $8,677 was
applied to discount on notes leaving a deficit of
$lo7,504.
The balance shown above for 1918 was
applied to discount on notes.
From the surplus as above in
1917, $101,023, there was deducted *95.000
for depreciation,
leaving $6,023.
from
Louisville
STOCK AND BONDS—
Date.
Common $2,000,000 ($10)
Pref 6% cum
$1,000,000.($10). ....
Revenue.
Outstanding.
$11,149
$22,047
$32,821
$31,022
$20,432
Harry Reid, Louisville, Ky.; V.-P., L, D.
Spragle,
Noav Albany, Ind.—
permitted to carry freight.
Fares.—On June 20 1918 was auth. by the Ind. P. S.
Comm. to charge a
straight 5-cent fare in Jeffersonville and New
Albany and to increase the
fares between these cities from 5 to
10 cents, with commuters* tickets at
7 cents each.
On April 16 1919 the I. S. C. Comm.
auth. a 7-cent fare
between Jeffersonville,
Ind., and Louisville, Ky.
Compare V. 107, p. 2376.
Freight Rates.—On May 9 1918 this company's
application for increased
freight rates was approved by the I.-S. C. Comm.
REPORT.—For fiscal
Interest.
$120,503 $115,670 $101,291
87,682
84,648
80,859
ORGANIZATION.—Incorp. In Indiana under the General. Railroad
Laws in 1903. and is successor to the
Southern Indiana Interurban
Railway
Co.
Leases the New Albany Street
Railway Co. for 25 years from Aug. 1
1903 (with privilege of renewal for 25
years) at a yearly rental of $500. tbe
int. charges and taxes and dlvs. of
4% on $100,000 preferred stock.
V. 77,
p. 769.
In Sept. 1904 acquired the
Highland RR. for $10,000 In bonds.
V". 79, p. 1643.
In Dec. 1905 acquired the Jeffersonville
City Ry.
See
V. 81, p. 1792.
Franchises are for 50 years; also
1940
common stock up to time of
dissolu^10,n*.«DJVSeach were paid on Railway common in Jan.,
April and
July 1918. Oct. div. omitted (V.
107. p. 1385). None since. V. 108. p. 878.
ROAD.—The Louisville Ry. Co. owns
178.20 miles of track on 77% miles
of street, with
18.05 miles outside city limits; all is electric. Affords
entrance
into Louisville for the Lou. &
Nor. Ry. & Ltg. Co. and Lou. & Sou. Ind.
Trac. Co.
The Louisville & Interurban
operates 103.45 miles of track in
Jefferson County, incl. extensions to La
Grange and to Shelbyville in Old
ham and Shelby
counties.
STOCK AND BONDS—
Date.
Common stock $600,000
Preferred stock $600,000
First mortgage $1,500,000
gl 1912
109,574
New Albany, Ind.; Sec. &
Treas., J. F. Stratton,
V. 85, p. 737, 1466; V.
106, p. 1692; V. 110, p. 174.
1921
4 % was paid on the old
Traction
94.520
.
-
0**1CER3.—Pres.,
„
J^on^.s'—$8,000,000 of the gen. mtge. bonds of 1910 are reserved to retire
prior liens; the remainder is for extensions
and improvements.
Bonds are
n°t subject 60 c*'!.
Fidelity-Col. Trust
Cat.
Year.
.$105,669 $131,621
....
_
L°ASV£n
000,000
since.
.
Net earnings
Interest, &c
Maturity.
Louisville Ry gen mtge
gold\ 1910
5 g F-A
4,035.000
Feb 1
1950
$20,000,000 ($1,000)-_c*tf [Interest
payable in Louisville.
sold Lis00
5 g J-J
6,000,000 July 1 1930
$6,000,000 (listN
Y)__c*tf] Int. at National Bank of Commerce, N. Y.;
r
.1
Fidelity-Col. Tr. Co., Louisville, Trustee
_
69
construction, &c.
In Feb.
of
an
1920 sold $230,000 5-yr. 7% notes to provide for the
redemption
issue of 6% debentures which matured Feb. 1 1920.
STOCK AND BONDS—
Common $8.000,000 ($100)
Date.
Interest.
Outstanding.
Maturity.
$7.660
$2,000.000 6% n-c ($100)
Q-J
500.000
July 20 I 4$
First
Hen sk. fd.
$6,500,000/ 1911
5 M-S
3,444,000 Sept 1 1941
gold ($1.000)
c*&r-_lNew York Trust Co.. New York, Trustee
5-yr. notes ($1,000).
-„-c*/ 1920
7 g F-A 1
1,000,000
Feb
11925
\New York Trust Co., N. Y., Trustee.
Pref
—
Stock and Bonds.—Pref. shares
are callable at 110 and are pref. as to
prin.
listed on Pittsburgh Stock Exchange.
Common stock
Pittsburgh, Chicago and London stock exchanges.
The
remaining $2,583,000 first Hen bonds are reserved under careful restrictions
for acquisitions of other securities and for extensions
and impts.
Bonds are
secured by deposit of all the securities owned
by Ga. Lt., P. & Rys. $128,000
(not incl. in amount reported
outstanding) are held in the treasury and
$345,000 have been retired by sinking fund.
Red. at 105 & int. on
any
Int. date on 30
days' notice.
Prin. & int. payable at office of A. B. Leach
& Co., Inc., N. Y., or Bank of
Scotland, London.
Annual sinking fund,
$50,000 1916 to 1920, $75,000 1921 to 1925, and $100,000 1920 to 1940.
V. 93, p. 1532.
Bonds are listed on Chicago, Pittsburgh and London stock
exchanges.
The 5-year notes are redeemable, all or in part by
lot,, on any
and
is
dividend;
listed
on
are
the
interest date
on
four
weeks'
notice at
105 and interest.
Dividends.—Quarterly dlvs. of 14$% on pref. stock were paid from Jan. 1
4913 to Jan. 1 1915, incl.; none to Oct. 1917, when
regular quar. dlvs. of
I 4$ % were resumed.
REPORT.—The combined results of the company and its subsidiaries,
with
inter-company items eliminated, for the years ending Dec. 31
Calendar
Gross
Year—
Earnings.
1919
$1,452,674
1918
1,226,129
Net (after
Sub.'Co. Int.
Interest
Taxes).
$621,855
&Divs.
$224,690
$235,146
443,374
219,298
were: /
Balance,
Surplus.
$162,018
def.12,645
Charges.
236,720
PROPERTY.—Through controlled companies
operates entire electric
Macon; furnishes electric light and power in
vllle from 1902;
In other towns from 20 to 40 years.
Guarantees the
$250,000 first mortgage bonds of New Albanv Street Ry. Go
Rate Increases.—In April 1918 the Indiana P. U. Comm. auth.
the co. to
railway and gas business in
Macon. Monticello, Forsyth,
An in¬
of 15% in New
Albany was also granted.
These rates are to remain
In effect for the duration of the war.
V. 106. p. 1692.
In Jan. 1920 the co. was auth. to Issue $300,000
6% gold notes, to pro¬
vide for exts. and impts. in New
Albany and Jeffersonville.
V. 110, p. 174.
In
Increase gas rates at the Jeffersonville
plant from $1 to $1 20 net.
crease
STOCK AND
BONDS—
Date.
Interest.
Outstanding.
Maturity
$1,000,000 ($100).
$1,000,000
First mtge $750,000 ($1.0001 ( 1902
5 g J-J
636.000
See text
gold
_c*-j Int. at Cont. & Comml. Trust & Sav. Bank.
I
Chic./Trus., and at Eliot Nat. Bk.. Bos
First consolidated mortgage i
1904
5 g J-J
750.000
See text
$1,500,000 gold ($500 and/Int. at Cont. & Comml. Trust & Sav. Bank,
$1,000)
c*(
Chic., Trus., or at Eliot Nat. Bk.. Boston
Bonds.—$750,000 first consols are reserved to retire a like amount oi
Stock
.
_
-
-
first 5s; and $127,000 have been retired.
Both issues mature serially from
1907 to 1942, but the bonds of 1902 may be called at 105 and
int.; the new
consols are callable after July 1 1924 at 105 and Int.
See V.
79, p. 2458
Barnesville, Griffin, Jackson, Jonesboro,
Bibb. Thomaston and Hampton, Ga.; also sells a large amount of
electricity
Atlanta.
OFFICERS.—Pres.. M. J. Murphy; V.-P., J. D. Everitt; Sec. & Treas.,
Thames, Jr.; Asst. Sec. & Asst. Treas., Lloyd Robinson.—-V. 105, p.
290; V. 106, p. 1124,4577, 2445, 2450; V. 108, p. 2528; V. 110, p. 561.1642.
J. J.
(1) Macon Railway & Light Co.
Entire common stock is owned by Georgia Lt.. Power & Rys.
ORGANIZATION.—Incorporated in Georgia
Oct,
on
23
1902 by
the
Railways & Light Co. of America as a consolidation of the Macon Consoli¬
Street Ry., the Macon Electric Light & Ry.. the North & South
dated
Macon Street Ry. and the Metropolitan Street Ry
The city ordinance
oermitting the consolidation. passed on Sept. 16 1902. granted a 50-year
franchise.
For terms, see V. 75. p. 733.
Control of the Georgia Public Serv
Corp. (Incorp. In Ga in May HUH
was acquired in Oct.
1913 by interests friendly to the Macon Ry. & V < o
ind Central Georgia Pow
Co.
V. 97. p. 1286.
.
„
...
In June 1914 Georgia
additional
common
,
m_
.
,
,u\n
RR. Commission sanctioned tbe Issue of $700,000
stock, making the total $1,600,000.
[VOL. 111.
RAILWAYS
ELECTRIC
70
GEORGIA LIGHT, POWER
RAILWAYS
&
AND ITS SUBSIDIARY
V-
MACON and ATLANTA, GEORGIA
ANTRAL GEORGIA
Bcnmont
COMPANIES
POWER CO., AND
)
CO., f
)
«
Ct.'TRAL GEORGIA TRANSMISSION
MM
TRANSMISSION LINES IN OPERATION.
JEFFERSOf
A
C
K
§\0
(N
!rr# fop&S, jfraw^
>Cvl
V
A
a-
^ i-Vv^
/
\
>5
If/
i
THENS
s.
\
15
v
a.
»O0.
^AUSTELL
\jffhitwctiiywy-^X
'
,5^7
u,\i
stA^^/Wfr1-A a i
imtwrn^|d E^\K^.L.
,
'Lithonla
CAMP
4-
K^FAlRBURN7J
.
'
v^rjoNESBbRo
uEcmciTf
fWiW i^7\M,b0^0UQH
AYETTEVILLEI
_
fayItt?
v
.1
G
fKctititof
*
.
\
rtHPMl»2
»io
CU/T c\N
'P
■\
\
Senola,
a.?.
f
Lowryk
^tlCITT Illf ?IIE3(0
•
$
p
A
ew-
^l\]^|NG
GRIFFII
U/|
Milner
M
?
,
/zEBULCN /•*
I
/ 4 K
BARNESVlLL
UJ
"
l9bbhbbh9bbnh9eieibhbbf
KUCTXiCITT SUPPLIE!
-v
£
M
7oodb
-&«■
«
AjJ
%y
"i
"V' ^
Vrate sville
(
'
N.
THOMASTON
N\ rsa^.«?>!-,
J2
i\
x
%
L
0
J
~Y
<\
\
(ATLANTA
•?
HJHENS^>.
Tv\.>
*ft
o
£<?*■
w/jffin &«^^> ) augusta^t
IRNEOVILLE
_
■
a
|
ii arrirnj
P^-WACQttj
/
\
V-.
ftnDSVTi
o
R°\G
I-
fcSST
■«
v*
^
\
A
V
I**® MTHcjlY SSIP7LIE0 N
i
By°hb CENTRAL GEORGIA POWER COTNona
\
*
yElEGTRIC
i/PPLIEJ
F-3j
0
Indian.Spr.
WONTICELlS^---^
OQML1LGEE RIVER PI
™
SPARTA
j
OCT., 1920.]
ELECTRIC
RAILWAYS
71
Fare
Increase.—On July 31 1918 the
City Council passed an ordinance
allowing the company to charge a 6-cent fare. Y.
107, p. 906.
On May 2
1920 the City Council passed an
ordinance raising fares to 7 cents.
The
ordinance runs for two years after which
the grant may be abrogated by the
city upon 60 days' notice. V. 110, p. 2192.
11998
STOCK AND BONDS—
Common $1,600,000 ($100)
Date.
Interest.
198
cons
..
mtgej
6 A-O
....
1903
.c*tf\Int.
5 g J-J
at
'
EqSitable
Tr. Co..
Maturity.
N? Y?. Trastw!
Bonds.—-Macon Ry. A Lt. 1st consols are
subject to call on any interest
date at 110 and int.
$41,000 bonds, $12,300 com. and $16,400 pref. stock
are held by Savannah
Trust Co. to retire the $42,500 Macon Elec. Lt. &
Ry. bonds remaining out.
See V. 76, p. 212.
—6%
.,
1920, inclusive.
Per annum has been paid s.-a. on pref.,
1903
Oct.
to
ROAD.—Owns and operates about 37.11 miles of
track, all of which has
been re-laid with 70-lb. rails.
19
EARNINGS.—For
Year ending
Dec. 31—
1919
years
Gross
58
ending Dec. 31:Taxes).
$211,375
210,965
Interest on
Bonds. Ac.
$108,715
107,657
Pref. Div.
Balance.
(6%).
$17,016
17,016
Surplus.
$85,644
86,292
OFFICERS.—Pres.. Wm. H. Felton; V.-P.. P. G. Gossler: Sec.. R«
Frank Jones; Treas., L. A. Magraw;
Aud., N. M. Hudson.—V. 107, p. 966V. 109, p.
578; V. 110, p. 2192; V. Ill, p. 1083.
ORGANIZATION.—Incorp. In Ga. In 1852.
Was formerly Macon Gas
Water Co., but In Oct. 1911 transferred its water
plant to the city.
and changed name to present title.
Controls entire gas business of Macon
Practically all the $475,500 com. and $20,000 pref. stock is owned
by Ga.
Lt., Power A Rys.
Company has no bonds.
Lt. &
EARNINGS.—For years ending Dec. 31:
Dec. 31
Gross
Net (after
Interest
Years—
Earnings.
Taxes).
on Notes.
STOCK AND BONDS—
Stock $4,000,000
Date.
Preferred
$23,613
20,163
Interest.
Outstanding.
Maturity.
$4,000,000
($1,000,1 1908
5 M-N
2,746,000 May 1 1938
£ equiv-) Empire Trust Co., New York, Trustee,
-
Mtge $3,000,000 g
$500 A $100, or
alent)
A
c*Ar»_j
Bonds.—Int. on bonds is payable at office of A. B. Leach A
Co., Inc.,
N. Y., or Bank of Scotland, London.
Subject to call at 105 and Int. for
sinking fund or any or all at company's option on any int. day.
Sinking
fund of 1% of bonds out began in 1913. VT 88. p. 1199.
$253,800 bondf
in sinking fund.
EARNINGS.—For 12 mos. ending Dec. 31:
Yearr—
1918
Gross.
Net. aft. Tax. Bd. Int., &c.
Surplus.
$572,531
$369,061
$219,426
$149,635
469,941
194,829
221,554
def 26,725
-
PROPERTY.—Owns hydro-electric plant with a capacity of 24,000
electric horse power on Ocmulgee
River, near Jackson.
Transmission
lines extend to Macon, Forsyth,
Jackson, Bibb, Barnesville, Thomastoa
and Griffin, connecting at the last-named
point with the line of the Central
Georgia Transmission Co. (whose entire capital stock and bonds are owned
by Ga. Lt., Power A Rys.), running to Hampton, Jonesboro, Monticello and
Atlanta.
Total length of transmission lines (incl. Cent. Ga. Trans.
Co.).
145 miles.—V. 93, p. 1536, 1670.
'
MADISON, WIS.
STOCK AND BONDS—
Stock $600,000 ($100)
1st mtge $1,500,000 g
Date.
Interest.
Outstanding.
Maturity
$356,000
($500/ 1916
6 g M-N
877,500 May 1 1936
and
$1,000)
c*-tf(Int. at Wisconsin Tr. Co., Mllw., trustee.
3-year notes ($200,000) gold/ 1916
7 g M-N
200,000 May 1 1921
($500 and $1,000)
c*{lnt. in Chic.
Wise. Tr. Co.. Milw.. trustee.
Bonds.—Additional bonds may be issued for extensions, additions. Ac.,
for 80% of cost under conservative restrictions.
Red. at 10234 and int. on
any inc. date on 60 days' notice.
A sinking and Improvement fund of 1
%
per annum of bonds outstanding began May 1 1919 for redemption of
bonds or improvements, Ac.
The notes are redeemable at par and Int.
on any int. date on 30 days' notice.
The following payments were required
to be made into an improvement fund for the
redemption of notos or for
Improvements, Ac.: May 1 1916, $15,000; Nov. 1 1916 and May 1 1917,
$12,500; Nov. 1 1917 and May 1 1918. $15,000. and Nov. 1 1918 and
May 1 1919, $17,500.
$105,000 has been paid into fund.
The notes
originally were 6s and matured May 1 1919, but were extended for one year
at 7% and a 1% premium, and
again to May 1 1921 on the same terms.
EARNINGS.—For year ending Dec. 31 1919, gross, $349,224; net, after
taxes, $86,268.
In 1918, gross, $298,078; net, after taxes, $82,400.
ROAD.—Owns 17 miles of standard-gauge track, including lines in Madi¬
and extension to Fair Oaks, Elmside, Lake Park
Cemetery and South
Madison.
son.
OFFICERS.—Pres., F. W. Montgomery; V.-P., Dudley Montgomery;
Supt., D. Montgomery.—V. 103, p.
Sec. A Treas., Warren Montgomery;
110,
p.
1642.
^
.
.
'
New Hampshire and com¬
prises the several light, power and street railway properties In and around
Manchester and the light, power and gas property in Nashua.
The com¬
the stock of the Manchester St. Ry., Manchester A Nashua St.
Ry. (name changed from Goffs Falls Litchfield A Hudson St. Ry. in Feb.
1907) and Manchester A Derry St. Ry.
In Jan. 1918 purchased the water
rights of the U. S. Bobbin A Shuttle Co.
pany owns
roads and
main
transmission
lines
private right of way, except through cities and towns.
On Oct. 9 1916 the P. S. Comm. of New
Hamp. auth. the Manchester A
Nashua St. Ry. to increase Its fares from 5 to 7 cents, effective Oct.
16
1916, but recommended the retention of existing rates for school children
and the sale of commutation tickets on a 5-cent fare basis.
Stockholders of record Aug. 22 1917 were given the right to subscribe
for $184,000 stock pro rata at
on
par,
ceeds
making $3,864,000 outstanding.
Notes.—The
p. 1$91.
PROPERTIES.—The different roads controlled comprise 65.595 miles
track, as follows: Manchester Street Railway, 42.842 miles; Man¬
chester A Nashua Street Ry., 14.335
miles; Manchester A Derry St. Ry.,
8.418 miles.
107 passenger and 18 misc. cars.
4 hydro-electric plants
preseot capacity approx. 11,500 h. p.; 2 steam reserve stations at Man¬
chester with a combined capacity of
approx. 10,900 h.p. and 1 steam reserve
station at Nashua with capacity of
approx. 2,000 h.p.
Also owns water
rights along the Merrimac River.
Dividends.—First dividend of 3% on July 15 1901;
paid 6% per annum
and including 1905; 7% in 1906; since
8% per annum.
5% extra
to
REPORT.—Of the Manchester Trac., Lt. A Power Co. and
subsidiary
companies for
V. 109, p. 1891.
STOCK—
Date.
Interest.
Outstanding.
Maturity.
($100)
Q-J 15
$3,864,000 Oct. '20.2%
1st consol mtge (closed) $2.-f 1901
5 g A-O
914.000 April 1 1921
000,000 gold ($1.000)c*ntf (Interest at American Trust Co.. Boston, Tr.
Manchester
A
Nashua
lstl
1906
5 g J-D
200.000 June I 1926
M gold $300,000 ($1.000)tf 1 Int. at American Tr. Co..
Boston. Trustee.
Man A Derry St Ry 1st mtge I
1907
5 J-D
125,000 Dec
1 1927
$500,000 ($1,000) guar..tf Int. at American Tr. Co., Boston. Trustee.
First Ref M Sink Fund g $15,-1
1917
5 g F-A
1.642,000 Aug 11952
000,000($1,000 c»; $5,000 r (Int. at American Trust Co.,'Bostoa, trustee.
Convertible notes
$2,000,000/ 1919
6 g M-N
1,750,000 Nov 1 1922
($500 A $1,000) gold—ctf tAmerican Trust Co., Boston, Mass., trustee.
Stock $5,000,000
ending Dec. 31:
years
Year end:
Gross-
Dec. 31.
Net {after
Earnings.
$2,020,619
1,655,035
.
1919
Interest
Taxes).
$688,992
560,257
Balance for
&c.
Divs.
$292:109
225,801
OFFICERS.—Pres. E. O. Foster; V.-P.
Walter F.
Gen. Mgr. J. Brodie Smith; Treas.
Geo. S. West; Asst.
Flint and Robt. Haydock; Cierk, Allan Wilson.—V.
&c.
$396,884
334.455
Norton; Y.-P. A
Treas., Lester E.
105, p. 998,1802,2184,
2543; V. 106, p. 86, 396, 929; Y. 109, p. 1891; V, 110, p. 2076.
MARION, ILL.
COAL BELT ELECTRIC RY.
In 1904 passed Into control of the St. Louis Iron Mtn. A Sou.
Ry. Co.
Stock authorized and outstanding, $300,000;
par of shares,
$100.
EARNINGS.—For
year ending Dec. 31 1919, gross, $103,412; net, after
$66,467; other income, $40; deficit, $66,427.
In 1918, gross,
$112,593; net, after taxes, $1,665; other income, $3,532; surplus, $5,197.
ROAD.—Operates 15.36 miles of track from Marion to Oartervllle and
taxes, def.
Htrrin.
Standard gauge.
52 to 70-lb. T rail.
OFFICERS.—Pres., J. G. Drew; Sec. A Treas., E. H. Lyeetb.
MARION, OHIO.
COLUMBUS MARION & BUCYRUS RY.
ORGANIZATION.—Incorporated In Ohio In May 1913 as a reorganiza¬
Marlon A Bucyrus RR., sold under foreclosure
per
plan V. 96. p. 1488, 1839.
Fare Increase.—In June 1920 fares on the co.'s lines were increased
to
3 cents per mile.
V. 110, p. 2657.
tion of the Columbus
STOCK AND BONDS—
Date.
Stock. $350.000
First mtge, $100.000
tf 1914
GenARefM. $350,000. goldtf 1914
Bonds.—-The 1st M. 6s
are
Interest.
Outstanding.
$350,000
52,000
6% g
5%
Maturity.
1934
1944
250,000
red. at 102H and Int. on any int. day.
maining $48,000 is held by trustees.
reserved to retire 1st M. bonds.
$100,000
gen.
A ref.
mtge.
Re¬
bonds
V. 96, p. 1488, 1839.
EARNINGS.—For cal. year 1919, gross, $52,022; net after taxes,
$14,In 1918, gross, $45,817; net, after taxes, $12,369.
OFFICERS.—Pres.. Geo. Whysall; V.-P. A Treas., Jas. H. Caldwell,
Troy, N. Y.; Sec. A Asst. Treas., H. B. Hane.^-V. 101, p. 1013, 1713;
V. 110, p. 764, 2657.
628.
.
MATTOON, ILL.
CENTRAL ILLINOIS PUBLIC SERVICE CO.
Controlled by Middle West Utilities Co., which see In our
"Railway A
industrial" Section.
•
ORGANIZATION.—Incorporated in Illinois in 1902.
Does
electric
an
Mght, power, water, gas, heat, ice, street railway and interurban business,
supplying electrical energy to 181 communities in central and southern
Illinois.
These communities have an estimated
population of 350,000.
In
addition to the supplying of electrical energy to these
communities, 8 are
served with gas, 12 with water, 12 with ice, 8 with heating and 5 with street
railway service, an interurban line being operated between Mattoon and
Charleston, Illinois.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
$7,250,000
3,810,500 Oct. '20.1]
mortgage/ 1912
5 F-A
11.503 ,000 Aug 1191
gold ($1,000)
c*tf (Interest payable in Chicago.
General mortgage gold
1917
6 g J-D
856,000 Dec
11952
Underlying bonds
2,873,000
Common $10,000,000
($100)
-
Pref 6% cum$10.000.000($100)
First and refunding
Q-J
-
Debentures
110,000
Collateral gold notes
_f
1918
7 g M-S
(1918
1923
300,000 Mar
1 1921
150.000 June 1 1921
7 g J-D
Stock.—Pref. stock is red. at 110 and div.
exempt in Illinois.
Has full voting power.
Tax-
Registrar, Illinois Trust A .Savings Bank, Chicago.
Bonds.—The first and ref. bonds are red. at 105 on
any interest date.
Additional bonds may be Issued under certain restrictions.
See V. 95, p.
1744.
For security of bonds, see V. 103, p. 1887.
Oont. A Comm. Trust
A 8av. Bank, Chicago, trustee.
is being paid on preferred stock.
1919
1918-.
Gross
years:
Net after
Earnings.
Taxes.
$4,113,620 $1,122,355
2,955,171
871,720
-
Other
Income.
$51,796
85,834
Interest
Pref. Divs. Balance.
&c.,Ch(is.
(6%)
$908,186 $230,130
736,101
223,081
Surplus.
$35,835
xdef.1.628
Adjustments resulted in surplus after preferred div. of $6,671,
PROPERTY.Ac.—The co. operates over 1,355 miles of hlgh-tensioo trans¬
mission lines, 8 central stations, holds 8 stations in reserve and has con¬
tracts for power from 4 other central stations.
Total available capacity.
x
70.000 h.p.
OFFICERS.—Chairman of the Board. Samuel Insull; Pres., Marshall
E. Sampsell;V.-P., J. Paul Clayton; Sec., P. A.
Erlach; Treas., C. E. Cripe.
Aud., R. A. Crews.—V. 105, p. 910; V. 106, p. 497, 931, 1036, 2227;
V. 108, p. 1167, 1513.
Pro¬
were for retirement of
floating debt, new construction and impts., Ac.
V. 105, p. 2184.
In Nov. 1919 brought out $1,750,090
6% 3-yr. conv. notes to refund
$1,500,000 2-yr. 6% notes, duo Jan. 1 1920 and for other corporate pur¬
poses.
105 and int.
Bonds purchased to be held alive.
Call at
V. 105, p. 909.
convertible notes are convertible or, if called for
redemp¬
tion, up to 10 days prior to redemption date, into an equal amount of 1st
ref. 5% bonds at a valuation of
9234 and int.
secured bi $2,059,000
1st ref." M. bonds.
Subject to call, "all or in multiples of
".at 101
and int. on 30 days' notice.
V. 109,
105 and int.
Years end.
Dec. 31.
MANCHESTER TRACTION, LIGHT & POWER CO.
Interurban
provide
first
EARNINGS.—For calendar
ORGANIZATION.—Incorporated in 1901 in
perpetual.
a
Dividends.—6%
MANCHESTER, N. H.
Franchises
become
at nob to exceed
are
MADISON RAILWAYS COMPANY.
ORGANIZATION.—Successor in May 1916 to the Southern Wisconsin
Ry., for statement of which see this Section for May 1916.
Franchise.
expire in 1932. 1938 and 1944.
The $200,000 notes originally matured
May 1 1919 and bore int. ati
but were extended for one year at 7% and a 1
% premium.
This issue, how¬
ever, was again extended, this time to
May 1 1921 at 7% and a 1% bonus.
City Ownership Rejected.—On April 6 1920 the proposal that the city
purchase the co.'s lines was voted down three to one.
V. 110, p. 1642.
220; V.
will
1918
Balance
Divs.
Surplus
$1,000
$28,567
1,000
22,005
Has 2 gas holders and over 54 miles'of
mains, Ac.
Output now exceed?
199.000.000 cu. ft. per annum.—V. 93, p. 942. 1537; V. 99,
p. 1455.
(3) Central Georgia Power Co.
; v
Georgia Lt.. Power A Rys. owns $3,660,000 stock.
ORGANIZATION.—Incorp. in Ga. on March 4 1907 as Bibb Pow. Co
and in Jan. 1908 changed name to present title.
Began oper. June 1 1911.
$53,180
43,169
floating debt and
dividend in 1911-12.
(2) Macon Gas Co.
$230,167
199,522
Both mortgages are closed.
The first refunding mortgage
of
earn.
Net (after
Earnings.
—$766,573
657,469
St.
sinking fund bonds were issued to retire
for new construction, &c.
After April 1921
mortgage on all property now owned.
$2,059,000
first and refunding
mortgage bonds are deposited as collateral to se¬
cure
convertible
notes.
Additional
See text.
bonds
may
be
issued
for
re¬
Jan
1 1953 i funding and for acquisitions, under guarded restrictions, but not In excess
Y.. Trustee. ! of twice the par value of outstanding stock.
Sinking fund of 1% of bonds
outstanding on each Aug. 1 began 1919, and is
Jan
11929
applied to purchase of bonds
Outstanding.
$900,000
300.000
959,000
g $1,000,000 ($1,000) _c*tf lint, at
Equitable Tr. Co.. N.
Macon Elec Lt & Ry 1st
mtgef 1899
6 g J-J
42.500
$100,000 ($500) gold
..
Pref $300,000 ($100)
6% cum.
Macon Ry & Lt 1st
Bonds.—The Manchester A Nashua
fijt. Ry. and the Manchester A Derry
Ry. bonds are guaranteed, prin. A int., by Man. Trac., Lt. A Pow. Co.
t
MAUCH
CHUNK, PA.'
MAUCH CHUNK & LEHIGHTON TRANSIT CO.—A
trolley road.
ORGANIZATION.—Organized In 1919 as successor to the Carbon
Transit Co. (for history see "Electric
Railway Supplement" of Mar. 29
1919) sold at foreclosure on Jan. 20 1919.
V. 108, p. 377.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$150,000
37,500
100,000
1959
150,000 Aug. 11933
Trust Co., Trustee.
Common$150,000
Preferred $50,000
40-yr bonds $150,000
7%
1919
6%
Carbon Transit Co 1st mtge/ 1908
5 g F-A
$150,000($100A$500)g__c*tf(Int. at Mauch Chunk
Bonds.—1st 5s of the Carbon Transit Co.
are
.
^
call at 105 and int. on any
int. date.
ROAD.—Comprises 12>£ miles of track, 24
cars.
Owns about 425 acres
of real estate, incl. 75 acres on "Flagstaff Heights."
OFFICERS.—Pres., Ben Branch; V.-P., Wm. Dods; Treas., Dr. Geo. H.
Mayer; Sec., V. M. Wolff; Compt., C. A. Secor.—V. 108, p. 2629.
after
MEMPHIS STREET RAILWAY CO.
American Cities Co. (see under New Orleans) owns 87% common and
88% preferred stock.
20 1919 Pres. T. H. Tutwiler and Frank S.
Elgin were appointed receivers for the co. on petition of the American
Cities Co.
V. 108, p. 378.
Interest Payments.—The int. due Jan. 1 1919 on the consoi. mtge, 5%
bonds was paid in May 1919, together with 5 mos. int. at 5% on the deferred
payment.
V. 108, p. 2241.
Compare V. 108, p. 1511. The July 1 1919
int. on this issue was paid Sept 2 1919.
V. 109, p. 982. The May 1 1919
Int. on the 2-yr. coll. notes was paid in June 1919 together with int. at 6%
for 1 month on the deferred payment.
V. 108, p. 2330.
Subsequent int.
Receivership.—On
Are subject to call
Bonds.—$50,000 reserved for future improvements.
10 years at 105.
TENN.
MEMPHIS,
[Vol. ill.
RAILWAYS
ELECTRIC
It-
Jan.
taxes, $14,129; net corp. def., $2,445.
taxes, $67,270; net corp. deficit, $4,519.
ROAD.—Operates 12.84 miles of track extending from MIddletown,
N. Y., to Midway Park, Goshen. Including switches, turnouts, &c.
Ralls
65-lb. T and 80 and 90-Ib. girder.
Standard gauge.
paid when due up to Oct. 1 1920.
Coll. 6% Notes.—Chairman, Mortimer N. Buckner;
Charles Counselman, George T. Ordway, John
Langan; Secy., Boyd G. Curts, 26 Broad 8t., N. Y. City.
Depositary:
N. Y. Trust Co., N. Y.
Sub-Depositaries: Fidelity Trust Co., Phila.;
Illinois Trust & Savings Bank, Chicago.
Deposits have been called for.
Pa.; Treas.,
ORGANIZATION.—Chartered in Tennessee on March 28 1895 and con
W. M. Oglesby, Harrisburg, Pa.; Gen. Mgr.,
M. L. Robinson.—V. 80, p. 998.1059,1425.2346.
MILFORD, MASS.
Committee for 2-yr.
UXBRIDGE STREET RY.—Trolley.
MILFORD &
J. C. Neff, S. F. T. Brock,
V. 108, p. 1511.
F. "Weiss,
OFFICERS.—Pres. A. C. Stamm, Harrisburg, Pa.; Sec., J.
Harrisburg,
W. M. Gould; Aud., Miss
had been
A.
31 1919, gross, $77,725; net, afteJ
In 1918, gross, $70,198; net, after
EARNINGS.—For year ending Dec.
ORGANIZATION.—Incorporated In Massacnusetts in 1901. On July
purchase of entire capital stock with the Milford
& Framingham St. Ry.
Operates the Grafton Sc Upton RR.
(V. 104. p. 73, 163) from Milford to North Grafton. 15.37 miles, and the
10 1902 consolidated by
Holliston
Medway & Dedham St. Ry.. 21 miles.
Fare Increases.—In 1919 was auth. to increase fares from 7 to 8 cents
'
solldated with the Citizens' St., East End St., City & Suburban and Mem¬
phis & Raleigh Springs lines; franchiser ~un until Nov. 1945.
The Supreme
Court has confirmed the co.'s franchises in all respects. Including the right
to charge 5-cent fare.
(Compare V. 85, p. 654; V. 100, p. 1752.)
Owns
ana operates the entire street railway business of the city, Incl. suburbs of
Binghamton, Raleigh Springs and South Memphis and a line to Lake
workmen's tickets to
View.
Preferred $100,000 ($100)
M. Holl. & Fram. 1st mtge./
Miss.
In Mar. 1913 purchased the property (excluding the building owned
n
Memphis and the car barns) of the Lakevlew Trac. Co. (sold at foreclosure
in Sept.
912) for $160,000
payment to be made in 20-year Lakevlew
Traction bonds bearing 2% int. for 2 years. 3% for 3 years, 4% for 8 years
for the last 7 years.
V. 96. p. 863.
Ordinance Not
Enforced.—On Mar. 13 1914 Chancellor Fentress
and 5
Ci
an injunction restraining the city from enforcing a vexatious and
unreasonable ordinance which was to have become effective Mar. 14 1914
granted
F>r details of the ordinance see V. 98. p. 912.
Strike Settlement—Agreement.—See V. 103.
p.
666.
Valuation.—In March 1920 the Tonn. P. U. Comm. fixed the valuation
of the property at
V. 110,
$11,846,034.
970.
p.
Compare V. 110, p. 167.
360.
Compare Y. 108, p. 1721. On June 12 1919 the Tenn. P. U. Comm. issued
an order fixing a 6-cent emergency fare with no charge for transfers.
V. 108
p. 2433.
In Mar. 1920 Federal Judge John E. McCall issued an order which was
accepted by all parties concerned, providing that the 6 cent fare then
in effect be continued as a test fare for 3 mos. from April 1 1920, at the end
of which time, should this fare be found inadequate, the rate shall automati¬
cally go to a cash fare of 7 cents or 10 tickets for 65 cents.
V. 110, p. 1290For results of operation during the test period see V. Ill, p. 588.
The
7-cent fare went into effect on Aug. 18 1920.
V. Ill, p. 792.
STOCK AND BONDS—
Interest.
Date.
$2,500,000
2.500.000 June' 17. 2%
($100) red at 110 & accr diva/
8.584,000 July 1 1945
text) closed.c'&rllnt. at Central Trust Co., N. Y., Trustee.
$30,000,000 gold] 1915
6 g M-N
See text
Nov 1 1935
mortgage
gold (see
Gen
Maturity
See text
Outstanding
Common $2,500,000 ($100)
Preferred $2,500,000 5% cum)
Cons
V. 110,
p.1415.
STOCK AND BONDS—
1905
$10,000,000/
mtge
($100 & $1.000)-_c*
2-year collateral gold
($1,000)
One-year notes...
Equipment trust
-
5 g J-J
tflGuaranty Trust Co., N.
Y., Trustee.
notes) 1917
6 g M-N
1,250.000 Nov 1 1920
c*cpt(lnt. at N. Y. Trust Co., N. Y., Trustee.
200.000
48.000
6%
6%
1914
To 1924
Bonds.—The consoi. M. bonds are in denom. of $1,000 coupon and $10,-
000 registered.
Are not subject to call. Sinking fund $25,000 per annum.
1910-14; $30,000, 1915-19; $35,000, 1920-24; $40,000, 1925-29. and $50,000
See V. 82, p. 628, 1496. $406,000 held alive
in sinking fund:
remaining $1,416,000 deposited as security for coll. gold notes.
Mortgage
closed.
$512,000 gen. M. bonds are deposited as coll. for 2-year notes.
During life of notes total issue of gen. M. bonds cannot exceed $650,000 ex¬
cept with consent of two-thirds of collateral noteholders.
Of the unissued
general mortgage bonds. $9,822,000 are reserved to retire the consoi. mtge.
bonds and remaining $19,666,000 are for add'ns, exts., Ac., under certain
restrictions.
Red. at 102J4 and Int. on any int. date.
V. 101. p. 1886,
The 2-year coll. notes were issued to provide funds for the payment of $1,500,000 notes due Nov. 1 1917.
They originally matured Nov. 1 1919 but
were extended for one year.
They art callable as a whole on 30 days'
notice at 100^ and int.
Secured by $1,416,000 consoi. mtge. 5s and
$512,000 6s.
Dividends —On pref. stock 6% was paid from issuance up to and including
Dec. 1914.
In 1915. none.
In 1916, Dec., 2H %.
In 1917, June, 2H%.
None since.
On common, first div.—1%—paid
June 1012.
In 1913.
March, 1%; Dec., 1%.
In 1914, June. M%\Dec., 2H %', none since.
1930-45.
Maturity.
See text.
Outstanding.
$440,000
Interest.
A-O
J-J
Date.
Stock com $440,000 ($100)
100,000
See text.
165.000 Jan
1 1923
7 g J-J
at Amer. Trust Co., Boston, Trustee.
7 g J-J
335.000 Jan
11923
c*ntf I Int. at Amer. Trust Co.. Boston. Trustee
The above bonds were originally 5s and fell due Jan. 1 1918. but were
extended to Jan. 1 1923 at 7%.
$165,000 ($1,000) g
& Uxb gold
($1,000) gold
Milford
1898
c^ntfllnt.
bonds/ 1902
Dividends.—On pref., in 1910, H%; in 1911, 5%; in 1912 and to and Incl.
1918, 6% per ann.
None since.
On com., in 1901 to 1903, 6%; 1904,
1H%: 1907, 3%; 1908, 1%; 1909, 3%; 1910 and 1911, 4%; 1912, 5M%;
thereafter to Oct. 1916, 5% per annum.
None since.
EARNINGS.—For fiscal years:
Gross
Net (after
ending—
Earnings.
Taxes).
Dec.
31
1919—$346,728
$50,002
Dec. 31 1918.— 324,378
50,410
Dec. 31 1917
315,091
48,951
Year
Fares.—In May 1919 the receivers were auth. by Federal Judge John E.
McCall to apply to the Tenn. RE. and P. U. Comms. for an increase in
fares to 7 cents, with a 1-cent charge for transfers, &c.
V. 108. p. 1936.
and
Effective March 22 1920, was auth. to
lines and to sell 12 rides for $1.
15 for $1.
increase fares from 8 to 10 cents on some
Deducr
Pf.Div.
(6%).
(5%).
Surplus.
$45,175
45,518
30,917
j
to Medway and Hopklnton.
$4,827
def. 1,109
12.034
6,000
6,000
Uxbridge and
ROAD.—Owns 36 miles of track, from So. Framingham to
from Milford
Balance
Com.Div.
Hons.
Also operates the Grafton
&
Upton RR., from Milford to North Grafton, 15.37 miles, and the Medway &
Dedham St. Ry.. 21 miles.
Also controls Lake Nipmuc Park.
60 pas¬
senger cars. 13 snow plows and 4 miscell.; 134 electric motors.
198
OFFICERS.—Pres., D. E. Manson, Boston, Mass.; V.-P., & Sec..
Williams, Milford, Mass.; Treas., J. K. Walker, Milford: Supt..
Wendell
W. L. Adams.
Milford, Mass.—V. 107, p. 1101; V. 110, p. 1415.
MILLVILLE, N. J.
MILLVILLE TRACTION.—A trolley road.
Date.
STOCK AND BONDS—
Stock
$175,000,
Maturity.
Outstanding.
Interest.
$175,000
j
gold! 1894
5 g F-A
208,000 Aug 1 1914
c*flnt. at Land Title & Trust Co.. Phila.. Trus.
Bonds.—Not subject to call.
$400,000
($1,000 each)
1st
mortgage
,
EARNINGS.—For'
$12,172,
taxes), $26,226.
operation
operation (aft.
cal. year 1919, gross, $75,046; def. from
In
(aft. taxes),
1918, gro.ss, $60,801; def. from
KOAD.—Operates 6.47 miles of track in Millville, 0.536 miles
Landis: total, 12.547 miles.
In Vlneland
md 5.541 miles In Township of
OFFICERS.—Pres., George Wood; V.-Pres., R.
S. Haines; Treas.,
D. Wood; Sec., Hartley
Daniel C. Lewis.
MILTON, PA.
LEWJSBURG MILTON & WATSONTOWN PASS.
RY.—Trolley.
Sept. 3 1897.
In 1910 Whittaker &
purchased control from the Railways Company General.
Under contract with Penn. RR., the Lewisb. Mil. & Watsont. Pass. Ry.
agreed to install storage-battery cars on some 11 miles of track between
Montandon and Miffiinburg, and to operate a line in conjunction with
steam use of that section of road, connecting with present trolley line at
ORGANIZATION.—Chartered
Diehl of Harrisburg
East
Lewisburg.
Surplus
def.$55,916
Interest.
Outstanding.
Maturity.
$150,000
1910
5 g F-A
175.000 Feb 1 1940
($500)
c»/lnt. at Land Title & Tr. Co., Phila., Trustee.
Bonds.—Remaining bonds can only be issued for improvements and ex¬
tensions at 80% of cost.
Sub. to call as a whole on any int. date at par.
1917
2,130.116
807,754
532,556
275.198
Latest Earnings.—For year end. Dec. 31 1919, gross, $2,675,110: net,
after taxes, $846,112.
In 1918, gross, $2,034,325; net, after taxes, $578,810.
after taxes, $7,991.
Tn 1918. gross, $68,406; net, after taxes, $11,437.
ROAD.—10 miles or track between points named in title.
12 overhead-
REPORT.—For year ending Dec. 31:
Gross Earns. Netaft-.Taxes,Stc.
Year.
1918
$2,038,190
$582,675
ROAD.—Owns 130.73 miles of track
girder.
326
and
passenger
OFFICERS.—Pres.
Int.Oth.Deduc
$638,591
Rails, 60 to 80-lb. T 60 to 109-lb
30 miscellaneous
cars
.
Thos
H. Tutwiler: V
P
L
R
Wright; Sec. & Treas., L. LeMay.—V. 108, p. 1936, 2241, 2330, 2433
V. 109, p. 982; V. 110, p. 167, 360, 970, 1290; V. Ill, p. 588, 792.
Gen.
&
Mgr.,
STOCK AND BONDS—
Stock
Date.
$150,000
First mortgage
$300,000 goldl
EARNINGS.—For
12 months end. Dec. 31
operation cars. 2 storage battery cars run from Montandon to Miffiinburg.
OFFICERS.—Pres., John F. Whittaker; V.-P., L. G. Brown; Sec. 4c
Treas., D. L. Diehl; Asst. Sec. & Treas.,
CITY, IND.
ORGANIZATION.—Organized in
No securities in hands of public.
On July
as
Indiana December 1901.
Ail owned by syndicate, which has
12 1918 issued $28,000 bonds (not incl. in table)
Compare V. 106. p. 2755.
to reimburse
the treasury for betterments.
1920
was
auth. to raise fares to 3 cents per
STOCK AN D BON Lib—
Date.
Common $5,000,000 ($100)
Pref $1,000,000 ($100) 6% n-c
1st mtge $6,000,000 ($1,000)/
5 F-A 15
Outstanding
$5,000,000
1,000.000
mile.
Maturity
4,357.000 Aug 15 194"
tf I Interest at Cleveland Trust Co., Trustee
gold,
Equipment bonds, gold
($1,-/
000)
bonds.— Remaining
provements.
1907
Interest.
1908
50.000 Past due
6 M-N
Clint, at Cleveland Trust Co.. Trustee.
are reserved for future extensions and
bonds
They are subject to call at 102}^ at any Int. period.
fund of $50,000 per annum began Aug.
bonds outstanding until maturity.
EARNINGS.—For year end. Dec. 31
ORGANIZATION.—Incorp. In N. Y. on Nov. 7 1912 to take over the
Milwaukee and other Wisconsin public
Owns or controls, through stock ownership, the following cos.:
Milwaukee Light, Heat & Trac. Co./North Milwaukee Light & Power Co.
Milwaukee Elec. Ry. & Light Co.
i Wells Power Co.
Wisconsin Gas 4c Elec. Co.
|
utilities.
collateral only
Fares.—In Oct
On Apr. 29 1914 the company filed a certificate
stock from 300,000 to 400.000 shares, to provide for
vertible bonds.
Sink,
15 1917 for 10 years, theD 2% of
gross,
Vice-Pres., S. H. Tolles; Sec. & Treas., R. R.
p.51.167. 420. 1528; V. 98, p. 386; V, 106, p. 2755.
$803,327; net, after
Alexander.—V
86
REPORT.—For cal. years (combined properties).
Calendar
Years—
1917
Calendar
1917
ORGANIZATION.—Incorporated In New York on March 30 1905 as
successor, under foreclosure, to the Middletown-Goshen Electric Ry
and
the Middletown-Bloomsburg Elec. Ry.
See V. 80, p. 1059, 1425.
Com¬
pany was placed In hands of receiver Oct. 1908 on account of a judgment for
Injuries obtained by a motorman, but all indebtedness having been paid off,
receiver was discharged April 23 1909.
($100,7
Interest.
Outstanding.
$350,000
Maturity.
1905
5 g M-N
300.000 May 1 1935
c*tfllnt. at Com'w,lthTr.Co.,Harrisburg, Trust.
V. 98, p. 1128.
paid June 1 1914; In Dec. 1914 also i>aid
In 1915. June, $1 75; Dec., $1.
In 1916, June. $1 75; Dec., $1 75
and 75c. extra.
In 1917, Apr., $1; July, 50c.; Dec.. $1 50.
None until
Dec. 1918 when $2 was paid.
In 1919, July, $1; Dec., $3.
In 1920,
1918
MIDDLETOWN, N. Y.
Date.
days' notice.
Dividends.—A div. of $1 75 was
$175.
Year—
WALLKILL TRANSIT CO.
($50)
1st mtge $350,000 gold
$500 and $1,000)
.
Date.
Interest.
Outstanding.
Maturity.
400.000 shares (no par
value)
215,000sh.
See text
Oebens $10,000,000
($1,000,
$500 and $100)
c*tf 1914
6 g M-N
6.500,000 May 1 1924
Debentures convertible into stock at $80 per share to May 1 1923; red.
STOCK AND BONDS—
June, $1.
1919,
coxen;
STOCK AND BONDS—
of Increase of capital
conversion of the con¬
Stock
at 102 on 60
iro
taxes, $59,383.
In 1918, gross, $763,782; net, after taxes, $116,782.
ROAD.—Operates a total of 70.86 miles between South Bend and Chi
cago; 6.3 miles Hammond to Kensington, owned by Illinois Central RR
is leased to Chicago Ltfke Shore & South Bend.
70-lb. T-rall.
OFFICERS.—Chairman, F. H. Goff; Pres. and Gen. Mgr.. O. N. Wil
Stock $350,000
WIS.
INC.
North American Co.'s holdings in
CHICAGO LAKE SHORE 5c SOUTH BEND RY.
used them
W. B. Rankin.—V. 90. p. 1363.
MILWAUKEE,
THE WISCONSIN EDISON CO..
MICHIGAN
1919, gross, $63,563: net.
Net (after
Non-Op.
Interest
Taxes, Ac.). Revenue.
Charges
$2,785,896
$182,458
$1,869,368
3,016,006
151,886
1,575.568
Income Account of Wisconsin Edison Co.
Divs.&Int. Exp..Int.&
Net
Divi-
Operating
Revenues.
$14,409,887
11.962,520
Received.
Taxes.
Income.
dends.
$1,548,714
1,197,275
1.446,411
$588,280
668,119
617,376
$960,434
529,155
829.035
$860,000
430,000
645.000
Balance,
Surplus.
$1,09$, 986
1,592.324
Balance,
Surplus.
$100,434
99,155
184,035
OFFICERS.—Pres.,
V.-P., H. H. Pierce and Edwin
Gruhl; Sec., James F. Fogarty; Treas.,
; Asst. Sec., Robt.
Randall; Asst. Treas., Robt. Sealy and Ferdinand Sherwood.—V. 104, p
2123; V. 105, p. 1809; V. 106, p. 603. 614, 1236, 2458.
(1) The Milwaukee Electric Railway 5c Light Co.
ORGANIZATION.—Successor of
Milwaukee St. Ry. Co. Jan. 29 1896
plan in V. 60. p. 1009.
On Feb. 11 1919 acquired the property, &c. of
Milwaukee Light,
Heat & Traction Co.
(for history see "Electric
Railway Supplement" of Mar. 29 1919) subject to that co's. $5,000,000 1st
M. 5s due 1929.
V. 109, p. 72.
Compare V. 106, p. 919; V. 108, p. 171.
per
the
Oct., 1920.]
ELECTRIC
Embraces practically all the street
railway lines in Milwaukee.
The
besides its street railway system, owns and operates an electriclight and power system and a central-station steam-heat system in Mil¬
RAILWAYS
REPORT.—Fiscal year ending Dec. 31:
company,
waukee serving a
population now estimated at 450,000.
Does an extensive
interurban railway and elec. light andpower business,
serving
South Milwaukee. Cudah
'
~
*
Racine, Kenosha, Wauwatosa. North Milwaukee, Whitefish Bay, Fox Point, West Aliis, Waukesha, Pewaukee,
Hartland, Oconomowoc, Watertown, St. Martins, Muskego Lakes, Mukwonago, East Troy, Waterford, Rochester and Burlington.
Entire com¬
mon stock is owned
by the Wisconsin Edison Co.
In April 1917 acquired
the electric utility of the Commonwealth Power Co. and the
heating utility
of the Continental
Realty Co, and issued $1,450,000 Serial 5% notes in
connection therewith.
V. 106, p. 919.
In Aug. 1920 the Milwaukee Power
Co. was incorp. to finance the co.'s new
power plant at St. Francis.
The
J ower Co. has a nominal capital of $1,000,000 and was organized so that
bonds could be issued with the St. Francis
plant as security.
V. Ill,
street and
108$.
P*
■
-
■'
' ■/
Leases the plant of the Wisconsin Electric Power Co. and guarantees pay¬
prin. and int. on that co.'s 1st mtge. bonds.
V. Ill, p. 1566.
jThe railway franchises of the company run until Dec. 31 1934,
V. 70,
39.
Electric-light and power franchises are unlimited in time
:
ment of
i
•
Valuation.—In Sept. .*— "*
—
—
~
on the valuation of the
& Lt. Co. and Milwaukee IjV., nt. & irac. uo.,
snowing
cost for both properties as of Jan. 1 1914 of $37,319,297; capital expenditures
to Jan. 1
1917, $3,206,700; total, as of Jan. 1 1917, $40,525,997 (not
including any allowance for working capital or going value).
V. 105,
p, 1309.
On the basis of the valuation of Jan. 1 1914, plus subsequent
capital expenditures, the estimated reproduction cost of the companies
as of June 30 1920 was $49,286,103.
V. Ill, p. 1183.
On Jan. 30 1915 the Wise. RR. Comm. rescinded its order of Aug. 23
1912, requiring the sale of tickets in packages of 13 for 50 cents instead of
25 for $1.
On Jan. 22 1918 Judge E. Ray Stevens in the Dane County
Circuit Court handed down a decision in the litigation involving the validity
of $193,000 of coupons issued with tickets during the time the order was in
effect, declaring the Commission's order to have been unreasonable.
V. 106, p. 396.
On May 27 1919, however, the State Supreme Court
handed down a decision upholding the Comm's. order.
The co. has an¬
nounced that it will not make further appeal and will redeem coupons
issued in lieu of the extra tickets, ordered by the Comm., while the case
was on appeal, at 4 cents each in cash.
V. 108, p. 2433.
On June 2 1919 the Common Council passed a resolution auth. the City
Attorney to bring action to compel the co. to seek a franchise for operation
of its interurban cars.
V. 108, p. 2433.
In Jan. 1920 Judge Fairchild
ruled that the co. cannot run interurban cars into the city because it has
no franchise for this purpose.
V. 110, p. 465. The co., however, obtained
a stay of executionIfor 490 days.
V. 110, p. 658.
No later Information
Fare Increase.—In June 1918 the Wig. RR. Comm. auth. the co. to
charge a straight 5-cent fare, eliminating the sale of tickets at 6 for 25 cents
and 25 for $1. V. 106, p. 2450.
In July 1918 was further auth. to increase
interurban fares from 2A cents to 3 cents per mile and suburban fares from
30 tickets for 50 cents to 30 tickets for 60 cents.
V. 107, p. 82.
On Oct.
30 1919 the Wise. R.*R.- Comm. reaffirmed the principles of the zone fare
system.
The Comm. auth. an increase in the single fare area from 5 to 7
cents cash and the sale of 18 tickets for $1 and 6 tickets for 35 cents.
The
order was tentative and charge intended to be varied upward or downward
to whatever extent necessary to enable the co. to earn 7A% return on its
railway utility investment.
Zone fares were increased from 2 cents per
mile to 3 cents.
Interurban passenger rates were also increased as a result
of this order.
V. 109, p. 1793.
In Jan. 1920 Judge E. Ray Stevens of the
Dane County Circuit Court ordered the Wise. R. R. Comm. to reconsider
the above order.
V. 110. p. 261.
Effective Feb, 3 1920 the
Comm.
ordered the co. to sell 9 tickets for 50 cents.
Effective June 27 1920 the
co. was auth. by the Wise. RR. Comm. to reduce thehiumber of tickets sold
forJ50 cents from 9 to 8 and to abolish the sale of 6 tickets for 35 cents.
V. Ill, p. 189.
The city has appealed.
V. Ill, p. 493.
Rate Increases.—V. 105, p. 1802, 1898.
In Sept. 1918 the Wise. RR.
Comm. approved the co.'s application for emergency increases in electric
light and power and steam heating rates.
V. 107, p. 1192.
Early in 1919 the company brought out an issue of $3,600,000 5-year
secured 7% notes.
V. 108, p. 171; V. 109. p. 1080.
In April 1920 the co. brought out $2,000,000 3-yr. 7% secured notes to
refund a like amount of 2-year notes due May 1 1920.
V. 110, p. 1749.
STOCK AND BONDS—
stock
Common
(par
Interest.
Date
Outstanding.
stock
$4,500,000
4.500.000 Nov'20,1 A
6% non-cum (par $100)
Milwaukee Elec Ry & ( 1896
5 g F-A
6,500.000 Feb 1 192(
Light Co cons, mtge $8,-(Central Trust Co. N. Y., Trustee. Int. pay
000,000gold ($1,000)—.c*[
able at co's office, 30_Broad St., N. Y.
The Milw Elec Ry At Light/ 1906
4 A g J-J
6,728.000 Jan I 1931
Co ref & ext M._ *20.000,-(Trust Oo. of America, Now York. Tnastee
—.
000 gold ($1,000)closed c*l
& ref mtge *90.000,0001
Int. at co.'s office, 30 Broad St., N. Y.
1911
5 J-D
5.819.000
See
text
gold ($1.000>8er "A*\o*tf flnt. at N Y. Bankers Tr, Co., N Y,.Tnn»
Secured notes $3,500,000 gold/ 1920
7 g M-N
2,000,000 May 1 1923
($500 and $1,000)—_ctf* (Bankers Trust Co., New York, Trustee.
Secured notes $3,600,000 gold/ 1918
7 g M-N
3,600,000 Nov 11923
($50,$100,$500&$1,000) .c*.(First Trust Co., Milwaukee, trustee.
Notes, $1,450,000 ($1,000IV.
1916
5%
1.000.090
See text
Equip, trust certifs. ($1,000)1 1920
8 g A-0
1,090,000
Oct 1 1930
sink. fund.
__.._c*tfJDivs. at Fidelity Tr. Co., Phila., Trustee.
Miiw Lt H <St Tr GO 1st M gj
1899
og M-N
5.000,000 May! l 1929
gu $5,000,000 ($1,000) g.c*i Int.. at Equitable Trust Co., N. Y.. trustee
Gen
Lt
H
& Tr Co gen
—.
Mjf 1918
....
6%
See text
Nov 1 1958
(After Nov. 1 1923 bear int. at rate of 5%.
A-0 15
5,000,000 Oct 15 1945
Fnion Trust Co., N. Y., Trustee.
j
Stock and Bonds.—The bonds and the
pref. stock are listed on the N. Y.
1st cons. mtge. is closed.
Of the ref. and ext. bonds, $6.reserved for prior liens and $6,772,000 are deposited as collateral
to gen. & ref. mtge. bonds.
Bonds are subject to call since Jan. 1 1916 at
108 and interest.
No sink. fd. See V. 81, p. 1724, 1792; V. 84, p. 508.
Gen. & ref. mtge. falls due Dec. 1 1951, except that in the event the co.
has not acquired a franchise extending to 1954 on or before Dec. 1 1931.
Stock Exch.
500,000
Expenses
Deprec n, &c
—
Taxes
*1919.
1918.
♦1919.
.1918.
$14,888,446 $8,955,595 Gross income_$3,481,612 $1,942,060
9,533,061
6,248,210 Interest
2,060,343
1,224,258
1,198,098
372,725 Preferred divs
270,000
270,000
-I
620,550
821,215
526,892 Common di vs.
.......
—
Net
_sur.$l ,151,268def$172748
$3,336,072 $1,807,768 Balance
145,540
134,292
♦Incl. earnings of Milw. Lt., Ht. & Trac.
Revenue passengers carried in 1919, 146,208,335, against 129,240,334
in 1918; transfer
passengers, 51,287,831 against 46,560,391.
ROAD.—Total track owned 402.40 and 1.05 miles leased.
Steam power
plants have an aggregate capacity of 105,150 k.w.
716 passenger cars.
OFFICERS.—Chairman of the Board, John I. Beggs.
V. 108, p. 1511,
2433; V. 109, p. 72,1080,1793; Y. 110, p. 261,465,658,1749, 2076; Y. Ill,
p. 189, 493, 1083, 1183, 1566.
.
.
Other income
(2) Wisconsin Gas & Electric Co.
ORGANIZATION .—Succeeded h» 1912 the Racine Gas Light Co
In¬
in Feb. 1867) and acquired the Kenosha Gas & Electric Co. and Ke¬
nosha Electric Ry.
Does entire gas business In Racine. Kenosha, South
Milwaukee, Oudahy and Watertown; the entire electric lighting, power and
street railway business in Kenosha, and the electric light and power business in Watertown, Burlington, Lyons, Springfield, .Join
rons,
Johnson s Creek, Jef¬
ferson Junction, Menominee Falls, Lannon, Corliss, <
Olyman and Thlensville, and wholesales power for supply to Fort Atkinses Lake Mills, WhiteAtkinson,
water. Palmyra, Lake Geneva, Delavan and Elkhorn.
Electric light and
power business in Kenosha is done under indeterminate permit.
Franchise
tor street railway extends until 1952.
The company has the right to con¬
duct Its gas business either under an indeterminate permit or under the
,
.
corp.
special (perpetual and exclusive) franchises originally granted.
In July 1915 increased auth. common stock from $1.000,000 to $1,750.000
and issued $657,500 of the new stock to acquire the Watertown Gas & Elec.
Co. and the Burlington Elec. Lt. & Pow. Co. (both controlled by the Wis¬
consin Edison Co.) and to discharge $162,000 floating debt Incurred in mak¬
ing additions and betterments.
Rates.—On Oct. 9 1917 was auth. by the Wise. RR. Comm. to increase
heating rates in Kenosha, effective Sept, 15 1917, from 20 cents to 27J4
cents jper square foot of radiation per year.
In Oct. 1918 sold at pa direct to the public $276,150 6A % 5-year secured
par
notes.
V. 107, p. 1389
In Sept. 1919 the acquisition of the company's gas plant by the city of
Racine was approved at a referendum.
STOCK AND BONDS—
Com stock $1,750,000 ($100)
Interest.
Outstanding.
Maturity.
——
$1,747,500
6%
500,000
First mortgage gold ($1,000? 1912
5 g J-D
3.287,000 June 11952
($1,000
&
$500)—
c* Int. payable at office of co. In N. Y. Harris
Trust & Savings Bank. Chicago. Trustee.
Secured notes
.918
6A%
276,150
1923
Watertown Gas & Elec 1st M
1905
5 J-D
l&LOOO June 11921
at
Bank of Watertown.
Wisconsin
$300,000
gold.
Red
at Int.
Trust Co., Milwaukee. Trustee.
102 A
Bonds.—Additional 1st M. bonds may be issued only for 80% of cash cost
of permanent impts., &c., when the annual net earnings are IA times the
Date.
———
Pref cum $1,600,000 ($100)-""
—
'
.
int.
charge, incl. bonds to be issued.
Bonds red. at 105 and int. since
June 1 1917.
$27,000 of the Watertown G.
E. 5s reported outstanding
held in treasury.
Are callable at 102A and int. on any int. date.
are
Income tax withheld at the source at the rate of 4% when owned by a
foreign corporation.
The 5-year secured notes are secured by a collateral
deposit of first mortgage bonds.
EARNINGS.—For year ending Dec. 31:
Year-—
Gross.
Net (after Tax.) Oth. Inr
Interest.
Surplus.
1919.
..$2,451,271
$311,338
$45,486
$210,912
$145,912
1918
2,106,440
304,861
28,651
209,014
.
124,498
1917
1,510,679
310,246
31,068
181,695
159,559
——
PROPERTIES.—Miles of single track. 7.851;mnes of gas mains. 203.
OFFICERS.—Pres., J. D. Mortimer; V.-P., 8. B. Way; Sec.-Treas.,
F. J. Boehm; Asst. Sec., J. F. Fogarty; Asst. Treas., Robt. Sealy; Gen.
Mgr., D. E. Callender; Aud., E. Jorgensen.—V. 102. p. 1352: V. 103. p
1432; V. 104, p. 1806; V. 106, p. 2458; V. 107, p. 1389; V, 111, p. 991.
WISCONSIN
SECURITIES
financing,
CO.—A
underwriting
and
holding company.
*$11,450,000
Preferred
$4,500,000 gold.
Gross
Maturity
$20,000,000
$100)
The
Milw
73
are
the mortgage becomes due on that date.
Bonds of Series A
are
redeem¬
able on any interest date at 105 and interest, on 6 weeks* notice.
$13,228,000 are reserved for prior liens; remaining $66,953.000 are for extens., impts.
and acquisitions, at
80% of cost thereof under certain restrictions.
No
sinking fund.
See V. 93, p. 1787.
Bonds listed on N. Y. Stock Exchange.
$6,772,000 ref. & ext. bonds pledged as collateral for the gen. &ref. bonds,
The Milw. Lt. & Tr. Co. 1st M. bonds may be called at 110 on any int.
date.
They are guar., prin. and int.. by endorseemnt, by the Milwaukee
Elec. Ry. & Light Go. (V. 86, p. 1042).
Income tax withheld at the source
at the rate of 4% when owned by a foreign corporation.
The $4,500,000
gen. mtge. bonds of the Milw. Lt. Ht. & Tr. Co. are pledged as security for
ORGANIZATION.—Incorp. in Wise. Aug. 4 1911 as First Wis. Securi¬
ties Oo. with capital of $l,000,O0O.Name changed to Wisconsin Securities
Co. Nov. 22 1911, at which time capital stock was increased to $1,000,000.
Capital stock increased Dec. 30 1916 to $2,000,000.
Through ownershipof about 38% of Pref. and Com. stock of Marine Securities Co., owns about
38% fof the Com. and Pref. stock of the Baltimore Dry Docks & Ship
Building Co. of Baltimore, Md.
Controls Wisconsin Public Service Go. of
Green Bay (see under that city) and Manitowoc, Wis.; owns all of capital
stock of Sheboygan Gas Light Co. of Sheboygan, Wis.; all the capital stock
of Manitowoc & Northern Traction Co. of Manitowoc and Two Rivers,
Wis.; owns the Calumet Service Co. of Chilton, Wis.; owns large steam power
station at Manitowoc, Wis. leased to Wisconsin Public Service Co.; owns
large (interest in Wisconsin Railway Light & Power Co. at La Crosse, Wis.
(see under that city) and Winona, Minn.; owns stocks and bonds of various
corporations; owns water power at Seymour Rapids near High Falls and
large tract of real estate in Green Bay Wis.
In July 1918, issued $500,000 5-year 6% secured notes to partially reim¬
burse the company for money invested in the stock of the Marine Securities
Co., and for additions, extensions, improvements, &c.
V. 107, p. 503.
,
STCK AND BONDS—
Date.
Interest
Outstanding.
Maturity.
Stock, $2,000,000$1,690,000
$500,000 ($100, $5001 1918
6 J-J
500,000 July 1 1923
and
$1,000
i
—c.tfjWisconsin Trust Co., trustee.
Sheboygan Gas Light Co.—
»
Common, $250,000.----—--$150,000 out—All owned by Wise. Secur. Co.
First mtge $250,000 gold. —-V 1901
5 g J-.1
250,000 July 1 1.931
($1,000 and $500)—c*tf\Int. at Union Trust Co., Detroit, Trustee.
——
Notes
Notes.—The
notes are secured by pledge of $105,000 Wise. P. S. Co.
5s, $60,000 Sheboygan Gas Light Co. notes, $450,000 Marine
7% pref. stock, $7,000 Green Bay Gas & Elec. Co. 5% bonds and
$48,000-Sheboygan Gas Light Co. 5% bonds.
Callable on any int. date
on 40 days' notice at 103 and int. to July 1 1920; 102 and int. to July 1
1921; 101 and int. to July 1 1922, and 100 and int. thereafter.
V. 107, p.
1st & ref.
Sec. Co.
503.
OFFICERS.
Pres., Clement C. Smity; V.-Ps., Howard Greene, Geo.
Miller, and Ludington Patton; Sec., Howard Greene; Treas., H. C.
Mackay; Asst. Sec. & Asst. Treas., Wm. M. Chester.—V. 94, p. 632;
V. 100, p. 1924; V. 104, p. 75; V. 107, p. 503.
P.
WISCONSIN TRACTION, LIGHT. HEAT &
ORGANIZATION .—This company was
POWER CO.
'
Incorporated at Milwaukee in
to $1,000 ^00),
the
Mar. 1900 with a nominal capital of $10,000 (since increased
for the purpose of uniting certain properties in the Fox
anteed
Secured control of the Fox River Valley Electric Ry. and the Appleton
Electric Light & Power Co., and has consolidated them.
In Sept. 1904
$3,600,000 5-vr. 7% notes of the Milwaukee Electric Ry & Lt. Co.
The Wisconsin Electric Power Co. 1st M. 7 A % Bonds ser. "A" are guar¬
principal and int. by the Milwaukee Elec. Ry. & Lt. Co.
A semi¬
annual sink, fund beginning 1921 provides for Ihe retirement of 3% per
annum of Ser. A bonds by purchase at or below 107 A and int. or by call at
that
price.
Red. as
4-mill tax refunded.
whole at 110 and int. on any int. date.
V. Ill, p. 1566. ,
a
The equip, trust certifs. are secured on equipment costing
One twentieth of the issue is to be retired each 6 mos. beginning
Penna.
$1,560,000.
Apr. 11921,
retiring entire issue at maturity.
Callable
as a whole at 107 A and div.
V. Ill, p. 1183.
Notes.—The 5% notes of 1916 are secured by $1,000,000 gen. & ref.
bonds.
They mature $150,000 on each July 1 to July 1 1926.
$450,000
have been paid off.
The 3-year 7% notes are secured by $3,000,000 gen. &
ref. M. bonds.
Are red. on the 1st day of any month on 60 days' notice
at 101 and int. to and incl. May 1 1921; at 100 A and int. thereafter to
May 11922; and at 100H and int. thereafter.
V. 110, p. 1749.
The 5-year
7% notes are secured by a deposit of 40-year 6% gen. mtge. bonds or the
Milw. Lt. Ht. & Trac. Co. in the ratio of $125 of bonds for each $100
of notes.
Conv. at option of holder at par and int. into the Milw. Lt.,
Ht. & Trac. gen. mtge. bonds (later to be assumed by the company) pledged
as collateral for this issue, on the following basis: Nov. 1 1919 to Nov. 1
1920, 93 and int.; Nov. 1 1920 to 1922 94 and int.; Nov. 1 1921 to 1922,
95 and int.; Nov. 1 1922 to 1923, 96 and int.; Bred, on four weeks' notice
at 101 and int, prior to Nov. 11921.
V. 108, p. 171.
Dividends.—Regular quarterly dividends of IA% have been paid on tua
at or under 103 and div., thus
,
pref. since Feb. 1900.
River Valley.
purchased entire capital stock of the Fox River Valley Gas & Electric Co.
aud guarantees its bonds, prin. & int.
See V.i79, p. 787,T267.
in Mar. 1914 the Wisconsin Supreme Court sustained the State RR.
Comm. in holding, in company's suit against the city of Menasha, that cue
city cannot do a commercial lighting business in connection with its own
street-lighting service without the necessary authority from the Commission
7
08.
n.
764.
Fare Reduction.—In April 1919 the co. reduced the
Menasha and Appleton, Wis., from 20 to 15 cents.
rate of fares between
V. 108, p. 1391.
Outstanding.
Maturity.
Stock $1,000,000 ($100)..
Q-J
$699,400
See text
First mtge ($3,000,000) $1,1901
5 g J-J
1,500,000 July 1 1931
000 gold no sink fund—c* Int. at First Trust Co., Milw., Trustee;
Fox River Valley first mtge
1901
5 g A-O
350.000 April 1 1921
$350,000 ($1,000) gold—c Merchants' Loan & Trust Co., Chic., Trust.
Bonds.—Entire issue of Wisconsin Traction, Light, Heat <fc Power Co.
bonds may be called on any interest date at 110 and interest.
The Fox
River Valley bonds are subject to call at 105 and int.
■
Dividends.-—In 1914 and to and incl. Jan. 1918, at the rate of 5% per
STOCK AND BONDS—
Interest.
Date.
-
x
None since.
EARNINGS.—For years ending Dec.
Gross. Net(aft.Tax) Oth.Inc.
annum.
„
Uear—
$995,803
1918--—761.819
19a9
$180,958
46.030
$14,423
11,225
31:
Interest.
$108,982
110,833
_
Divs.(5%). Balance.
sur. $86,399
def. 53.578
,
electric
74
ROAD.—Operates 15.92 miles of track, connecting
Appleton and Kaukana, 3.66 miles locally In the city of
Neenah, Menasha,
Appleton and 1-76
miles. Also furnishes electric light
and power and gas to Appleton, Neenah and Menasha.
OFFICERS.—President. John I. Beggs; Vioe-Pres., Chas. F. Pflster
Milwaukee; Sec. A Treas.. A. K. Elils.—Y. 91, p. 90. 1770; V. 98, p.
764; V. 101, p. 1093; Y. 108, p. 1391.
miles sidings and turnouts; total, 21.24
MINNEAPOLIS, MINN.
CITY RAPID TRANSIT.—a holding company.
ORGANIZATION.—Organized under the laws of the State of New Jersey
Tune 3 1891 and by virtue of its stock ownership of the underlying com¬
TWIN
panies (to wit, Minneapolis St. Ry. Co., The St. Paul City Ry. Co., the
Minneapolis Lyndale & Minnetonka Railway Co. and The Minneapolis
St. Paul Suburban RR. Co.) controls the entire street railway system
of Minneapolis, St. Paul, Stillwater, and lines to Excelsior, Tonka Bay and
Deephaven at Lake Minnetonka.
In 1900 absorbed the North Side Street
Ry. (Robblnsdale line) and the St. Louis Park line; V. 83. p. 1472.
In
1906 articles of incorporation were amended so as to make the charter
&
V. 80, p. 1914.
perpetual.
>■<
,
Settlement with City of St. Paul.—For decision as to right to build new
lines in St. Paul, see V. 79, p. 271, 2087. and for settlement with City of St.
Paul by which the city relinquishes its right of appeal from this decision and
the company agrees to pay into the city treasury real and personal property
taxes, equal to at least 6% of gross earnings; see V. 80. p. 1175.
On Oct. 23 1914 the Minnesota Supreme Court sustained the validity
of an ordinance passed by the City Council in May 1910 ordering the St.
Paul City Ry
to construct a car line on St. Clair Ave., branching from
V. 99, p. 1301.
West Seventh St.
New Subsidiaries.—Because of a
decision of the Supreme Court holding
amenable to the Minnesota 5% gross
that suburban lines, as railways, are
earnings tax, it was decided in Mar. 1910 to incorporate The Minneapolis
& St. Paul Suburban RR. ($1,000,000 stock, increased to $3,000,000 in
increased to $10,000,000: V. 92. d. 187).
Navigation Co. ($250,000 stock) and The
Rapid Transit Real Estate Corp., $15,000 stock, and to re-arrange matters
so that the suburban lines, the steamer lines and the hotels, parks, Ac., of
the cnmpany might be handled separately for taxation and accounting pur¬
poses.
V. 90. p. 850.
Franchise and Fares.-—The horse car franchise granted to the St. P. City
Ry. Co. by the City of St. Paul is without limit.
The ordinance to use
electricity expires partly in 1937 and partly in 1939.
The Minneapolis
Street Ry. franchise is claimed by city officials to expire in 1923.
See
Jan.
1911; debt limit was also
The Minnetonka & White Bear
108, P. 380. 683.
Valuation of Minneapolis Street Ry.—For reports on valuation of property
In connection with franchise matters, see V. 105, p. 1523 , 2185; V. 106
V.
716; V. 108, p. 380, 683.
«,
Extension.—In June 1918 holders of 1st M. bonds of the Minn. Lyndale
Minnetonka Ry. and 1st cons. M. bonds of the Minn. St. Ry., due
Jan. 15 1919, were given an opportunity of extending same to Jan. 15 1922
at 7% from July 15 1918.
A large proportion of the bonds were extended
and the remaining 7% bonds not taken by holders of the maturing 5s were
sold.
V. 106, p. 2758; V. 107, p. 292.
The unextended 5s have been
eliminated from the table
Cost of Service Franchise.—After various proposals and counter-proposals
had been made, the Minneapolis Street Ry. Co. on June 7 1919 accepted
the offer of the City Council of a 25-year cost-of-service franchise based
on a valuation of $24,000,000.
However, the franchise, which provided
for a return of 7 % on the above valuation, was defeated by the voters at a
special election held Dec. 9 1919.
V. 109, p. 2264.
Compare V. 108, p.
2242, 2331, 2529; V. 109, p. 477, 1081, 1274, 1527, 2172.
On Aug* 16
p.
&
1920, however, an emergency ordinance became effective authorizing the
Minneapolis Street Ry. to charge a 6-cent fare until Dec. 15 1920 and a
7-cent fare with 4 tickets for 25 cents thereafter.
V. Ill, p. 794.
On
May 4 1920, the people of St. Paul voted in favor of a sliding scale
of fares with a maximum rate of 7 cents per passenger.
The rate fixing
power is vested in the City Council, but fares were not to be raised above
the old 5-cent rate until the co. furnished the service provided for in the
ordinance.
V. 110, p. 2193.
This the co. could not do.
But on Sept.
13 1920 a new ordinance became effective providing for a 6-cent fare.
V. Ill, p.
897.
Date.
STOCK AND BONDS—
Twin City Rapid Transit—
Com $22,000,000 ($100)—
Pref cum $3.000.000 ($100)- 1895
Minneapolis Street Railway Co.—
1st con M
g$5,0p0,000_c*cpt 1918
Interest.
0 Q-J
7 Q-J
Maturity■
Outstanding.
$22,000,000
3.000,000
7 g J-J 15
See text.
Oct '20, 1%
5.000,000 Jan 15 1922
6 g A-O
224,000 April 1 1934
horse-car franchise-.cpt J Exchangeable at 105 for first consolidated.
First consol mtge gold.-cpt 1884
6 g A-0
456,000 Oct 1 1934
Cable con gold(see text) cpt 1887
6 g J-J 15
3,708,000 Jan 15 1937
Minneapolis & St Paul Suburban Ry—
1st M g $500,000 guar by\ 1899
5 g M-S
500,000 Sept 1 1923
TwOy R TAStP Cy c«cpt/Interest at Central Trust Co., N. Y., Trustee
and!
1882
Minn Street & St Paul City Ry—
Joint con mtge $10,000.0001 1903
5
g
A-0
10,000,000 Oct
1
Strouse;
p.
Suburban Ry. and the joint issue of 1903, interest
Farmers' Loan & Trust Co., New York.
& St. Paul
is payable
New York Stock Exchange.
Bonds.—The Minneapolis Street Railway Co. jointly and severally
on
with
Minneapolis Lyndale & Minnetonka Railway Co., issued $5,000,000
5% 30-year first mtge. and first consol. mtge. gold bonds, due originally
Jan. 15 1919.
Have been extended to Jan. 1 1922 at 7%.
They are secured
by the same mtge. as the old 5s and are unconditionally guaranteed, prin.
and int., by the Twin City Rapid Transit Co.
See statement to New York
Stock Exchange in June 1895
V. 60, p. 1149.
The 57. Paul City Railway Co. has issued $3,708,000~ir% 50-yr cable con¬
solidated bonds, and may issue $680,000 now held by the Farmers' Loan &
Trust Co., trustee, to redeem the $680,000 prior lien bonds; limit fixed by
this mtge. is $4,388,000, and no further underlying bonds can be put out.
V. 77, p. 2281.
Part of these cable consols ($1,138,000) is guar. (p. & i.)
by end. of Twin City Rapid Transit Co.
See statement to N. Y. Stock
Exch. in June 1895,
V. 60, p. 1150.
Of the 1st consols, mtge. of the St.
Paul City, $224,000 are held by the Farmers' Loan & Tr. Co. to be ex¬
changed for the $224,000 first mtge bonds
The Minneapolis Street Ry. & St. Paul City Ry. consolidated mortgage of
1903 te a joint issue of the Minneapolis Street Ry. and the St. Paul City Ry.
Guaranteed, prin. and int., by endorsement, by Twin City Rapid Transit
Co.
see V. 77. p. 2281 and 2340).
1
Dividends.—On preferred te paying 7% per annum.
First dividend of
1% was paid on the common stock in Aug. 1899; in 1900. 3%; in 1901. 4%:
1902 to 1909 incl
5% per ann ; 1910 to 1917 Incl , 6% per annum.
In
1918, Jan., 13^ %; April, 1%; July and Oct. divs. omitted (V. 107, p. 2290).
In 1919. Jan., 1%.
None to Feb. 1920, when 2Y2 % was paid.
V.llO.p.
466.
None since.
ROAD.—On Dec. 31 1919 comprised 452.65 miles single-track equivalent.
Including four interurban lines connecting the business centres of Minne¬
apolis and St. Paul, an interurban line of 22 miles connecting St. Paul and
Stillwater, and lines to Lake Minnetonka.
Standard gauge.
On the prin¬
cipal streets of the cities 90-lb. T rail with welded joints.
Power.—The company leases water-power at St. Anthony's Falls (ca¬
pacity 22,000 h. p.), which power te now used in conjunction with power
the
■
,
generated at See V. 64, power plant to run the entire railway system in
new steam 704.
oth cities.
p.
ANNUAL REPORT.—Report for 1919 was in Y. 110, p.
Years end. Dec. 31—
1919.
1918.
1917.
pref.; par value of shares, $100.
See ".Electric Ry."
Section for May
1918, and V. 106, p. 2649.
On Aug. 7 1918 was licensed for business in
Minnesota.
Y. 107, p. 1004.
On Nov. 19 1918 the co. resumed operation
of the cutoff from Auto Junction to Luce Line Junction and thence to
Minneapolis.
Compare V. 107, p. 1192.
,
ROAD.—Has 57.3 miles of line in operation.
OFFICERS.—Pres., James H. Ellison;
V.-P., A. D. Walker; Treas.,
W. O. Winston;
Sec. R. H. Benham.—V. 107, p. 697, 1004, 1192.
MOBILE, ALA.
MOBILE LIGHT & RAILROAD.—Trolley.
ORGANIZATION.—A consolidation on Sept. 1 1901 of the Mobile Light
tk Railroad and the Mobile Street RR.; the franchises of both companies
were extended on Sept. 12 1901 to March 12 1955.
See V. 73, p. 616.
In July 1900 the Mobile Illuminating Co. purchased the electrlc-llght
Elant of the70 semi-annual under contract of purchase pays
,t. & RR.
company and payments of $11,404.
April 1920 the Mobile City
cash fares from 5 to 7 cents and ticket
to continue in effect for two years.
V.
1916.
carried..222,186,823 188,930,268 199,621,160 199,848,096
73,458,262
67,985,059
73,678,873 74,425,935
Receipts from transp'n._$l 1,351,739
$9,618,501 $10,119,755 $10,130,113
Total
receipts
Operating expenses
Net earnings
Int.,
taxes,
&c
Miscellaneous debits
Divs.
on
Divs.
on com.
pref. stock (7%)
141,739
$11,493,478
8,445,059
$3,048,420
2,216,785
43,283
210,000
stock.
Balance, surplus
1893
6 g M-N
254.000 May 1 1923
Farmers' Loan A Trust Co., N. Y., Trustee.
Mobile Street RR first mtge
c*ntf
gold $300.000
National City Bank, New York.
1901
5 g M-S
1,183.000 Sept 1 1941
($1,000) $2,250,000—c*tf Interest at New York Trust Co.. N. Y., True,
Bonds.—Of the $2,250,000 mtge., $610,000 are reserved for prio» liens
Interest at
Consolidated mortgage, gold
$17,000 are in treasury, $313,000 are
in Trust Fund and $135,000
been retired.
$75,000 1st M. M. L. & RR. Co. bonds have been
$15,000 M. S. RR. bonds are in treasury and
$30,000 have
have
retired.
been retired.
Fixed
Balance,
Charges.
Survlus.
$207,179
$103,945
$103,234
1918
191,187
100,792
90,396
Dividends.—Initial dividend—H %—Aug. 1 1909; in 1910. *4%; In 1911,
2H%; in 1912, 1>4 %; in 1913. 2%; in 1914, 3%; In 1915. 2%: in 1916, 3%;
in 1917, 2%.
In 1918, Apr 1, 1%; June, 1%; Aug., 3%.
None since.
ROAD, Ac.—Owns 59 miles of track in Mobile add extensions to Magatine Point, Spring Hill, Whistler and Monroe Park.
Company also owns
"Monroe Park" and water power and 260 acres of land adjoining.
OFFICERS.—Pres. & Gen. Mgr., J. H. Wilson; V.-P.. S> A> Wilson;
Sec. & Aud., F. B. Clements; Treas.. C. White Spunner.—V. 110, p. 1643.
Net (after
Taxes).
Gross
EARNINGS.—
Earnings.
..$966,442
725,626
Calendar Year.
1919
.
MONMOUTH, ILL.
GALESBURG & WESTERN RR.
formerly known as the Rock Island
thern R. R., but name was
changed to present title in 1919.
Receivership.—On Sept. 16 1919 Theodore M. Cox was appointed receiver
for the co.
On March 18 1920 the property was sold at foreclosure to W.
S. Hommons, acting for the bondholders' committee (see below) for $151,000.
It is reported that the road will be reorganized.
V. 110, p. 1643.
Was
Compare V. 110, p. 872..
No further information.
ORGANIZATION.—Incorp. in 1906 under Steam
$578,352
92,694
87,958
84,366
59,711,194 $10,207,713 $10,214,479
7.003,974
6,723,520
6,254,643
$2,707,221
1,973,879
$3,484,193
1,908,921
$3,959,836
1,695,655
37,222
26,633
210,000
210,000
(2)440,000 (6)1.320.000 (6)1,320.000
42,040
210,000
$41,302
Railroad Act of Illin¬
Operated by electricity for passengers and steam for freight.
Fran¬
chises in Monmouth are for 20 years.
Was leased to the Rock Island South¬
ern Railway (now Mississippi Valley Ry. & Power Co.) from Feb. 1 1913 to
Dec. 31 1913, on which date lease was canceled.
Bondholders' Committee.—W. S. Hammons, Frank S. Wingate and M. O.
Williamson.
Deposits of bonds with the Fidelity Trust Co., Portland, Mc.,
and People's Trust & Savings Bank," Galesburg, 111., have been called for.
See V. 102, p. 886.
Also Y. 110, p. 872.
ois.
Interest.
Date.
STOCK AND BONDS—
Maturity.
Outstanding.
$500,000
---
6 g J-J
521.000 Jan 1 1947
($1,000) red at 105
.cjlnt. at Con. & Com. Tr. & S. Bk., Chic., Tr.
ROAD.—16 miles between Galesburg and
Monmouth.
75-Ib. rail.
mortgage $2,500,000 g[
First
Standard
gauge.
OFFICER8.—Pres., L. F. Sutton; V.-P., Will Halsted Clark, Chicago;
& Treas., J. W. Walsh; Gen. Mgr., Geo. W. Quackenbush, Rock
Island, 111.—Y. 102, p. 886; V. 109, p. 271; V. 110, p. 872, 1643.
Sec.
MONTGOMERY, ALA.
MONTGOMERY LIGHT & TRACTION CO.—A trolley road.
Receivership.—In Jan. 1919 Judge Henry D. Clayton in the U. S. Circuit
Court of Alabama appointed Ray Rushton receiver for the co., upon ap¬
plication of the Comm'l Trust & Sav. Bank of New Orleans, it being al¬
leged that certain secured notes were overdue.
V. 108, p. 269. Compare
V. 107. p. 2290.
ORGANIZATION, Ac.
Montgomery Trac. Co. was chartered In 1893
On Dec. 29 1911, having acquired the lighting property owned by Richard
TIlIls. name was changed from Montgomery Trac. Co. to above title (V. 94,
p. 207), and in June 1912 stock was increased from $1,000,000 to $2,000,000.
to pay for new property.
V. 94, p. 1704.
Stock had previously been de¬
creased from $2,000,000 to $1,000,000 in 1909.
V. 88. p. 375.
Does entire street railway business and has an electric ught and power
astern in Montgomery and its suburbs.
Street railway franchises that are
not perpetual expire between 1932 and 1942.
Electric light and power
franchise runs till
1940.
Power Contract Decision.—See
V. 103,
p.
1593.
1918 applied to the City Commissioners for auth. to
V. 107, p. 1101.
On Oct. 5 1918
granted a 6-cent fare by the P. S. Comm.
Effective Sept. 17 1919
auth. to charge a 7-cent fare.
Fares.—In
Sept.
Increase fares from 5 cents to 7 cents.
was
was
STOCK AND BONDS—
Stock
$2,000,000
Date.
Interest.
($100)
Outstanding.
$2,000,000
Maturity.
1912
6%
1,080,000 April 1 1942
mtgel 1893
6 g F-A
350,000
Aug. 1923
Jlnt. at Farmers' L. & T. Co., N. Y., Trustee.
1st A cef M $5,000,000 sk fd—
Mont
Street
Ry
$350,000 gold
1st
bonds, $350,000 are reserved for prior
betterm'ts at 80% of cost, or for acquisi¬
Bonds.—Of the 1st A refunding
lien and $1,080,000 for add'ns &
for $, of bonds of other properties which may be acquired.
Sink. fd. equal to 1% of all bonds authenticated annually began April
1
1915.
V
95. p. 47.
*
EARNINGS.—Of combined properties for cal. year 1919, gross, $556,521.
In 1918, gross, $578,919.
In 1917, gross, $451,383.
•
ROAD.—Operates 38 miles of track (including 4 miles of double track) In
Montgomery and to Pickett Springs; 56 cars.
Standard gauge; 70-Ib. T
and 95-Ib. girder rail.
Power-house capacity, 4.000 k.w.
OFFICERS.—Pres., Ray Rushton; Sec. & Treas., Chas. E. Norton;
tion or refund., $
Gen.
Mgr., G. C. Estill.—V. 107, p.
1080.
1101, 1747, 2290; V. 108, p. 269;
V. 109, p.
867.
carried...
Rects. from oth. sources,
to the Mobile
Commission auth. the co.
fares to 6 cents.
These
rates are
110, p. 1643.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock $2,250,000 (par $100)
$2,250,000
8ee text
First mtge gold ($1,000)_ntfJ 1897
5 g J-D
328,000 July 1 1937
[Int. at Farmers' Loan & Trust Co., N. Y.
Fare Increase.—In
to increase
MONTOURSVILLE, PA.
Revenue pass,
Transfer pass,
V. Ill, p. 295, 494, 794, 897.
466, 563, 867, 1850, 2193;
MINNEAPOLIS NORTHFIELD & SOUTHERN
RY.—Incorp. in
South Dakota in July 1918 to take over the property of the Minneapolis
St. Paul Rochester & Dubuque Elec. Trac. Co. ("Dan Patch" line) sold
at auction July 29 1918.
Auth. capital stock, $1,000,000 com. and $500,000
1923
($1,000) gup & i__c*cpt I Central Trust Co. of New York, Trustee.
Real estate mortgages
Q%
325.000 1920 to 1923
All bonds are for $1,000 each, and. with the exception of the Minneapolis
Slock.—Listed
OFFICERS.—Pres., Horace Lowry; 1st V.-P., E. W. Decker; 2d V.-P.,
R. Mitchell:
3d V.-P. & Sec., A. M. Robertson; Compt., D. J.
Treas., E. A. Crosby; Gen. Mgr., Foster Hannaford.—V. 110,
John
Stock $500,000 ($100)„.
8t Paul City Railway Co—
First mtge on real estate
at
[VOL. 111.
railways
$8,050
$707,548
MONTOURSVILLE
PASSENOER
ORGANIZATION.—Chartered
RAILWAY.—A trolley road.
In Pennsylvania June 28
1897.
Com¬
of the Montoursville
Funded debt auth.
and issued, $112,000 6% 30-year gold bonds (tf) dated May 1 1908. Int.
M. & N.
Operates 5H m. of track from Willlamsport to Montoursville, Pa.
menced operations Dec. 10 1897.
Owns all the stock
Electric Light Co.
Stock auth. and issued, $75,000.
-
EARNINGS.—12
gross,
mos.
end.-Feb. 29 1920
(incl. Mont. Elec. Lt. Co.),
$42,189; expenses, taxes, interest, Ac., $62,327; deficit, $20,138.
V.-P., F. C. Leonard*
A Treas., W. P. Beeber, Willlamsport; Gen. Mgr.
Montoursville.—V. 94, p. 207, 1704; V. 95, p. 47.
OFFICERS.—Pres., O. L. Peaslee, Willlamsport;
Ooudersport;
Sec.
Frank Rennlnger,
Oct., 1920.]
ELECTRIC
MOBRISTOWN, N. J.
Fare Increase.—Effective
Sept.
ORGANIZATION.—Incorporated In New Jersey In 1899. Charter
gives company right of eminent domain.
Built mostly on private right of
way.
Franchises through towns are perpetual or for 35 years.
On Feb. 211913 the N. J. Pub.Utility Comm.
approved the plan to Issue
$300,000 cap. stock to retire the $3,000,000
existing stock (one new share
for ten old), and $4,179,000 bonds of an auth.
$5,000,000. to be secured by
a mtge. to the Safe Dep. & Tr. Co. of
Pittsburgh, as trustee; $3,000,000 for
1746. 680; V. 96. p. 653.
other Indebtedness.
V. 95, p.
Power.—The co. in Aug. 1920 sold its
power house at Chatham, N. J.,
now receiving its
power from the North Jersey Power &
Light Co., Morris & Somerset Electric Light Co. and Millburn Power Co.
V. Ill, p. 588.
for $18,000 and is
Readjustment Plan.—Interest on the $3,000,000 1st M. 5s
having been
In default since June 1912
(except $28,875 paid on coupon No. 15, due In
Dec. 1912, the balance, $46,125, not
having been paid), and no interest
having ever been paid on the $1,179,000 Gen. M. 5s, a
5-year agreement
dated June
18 191/ was entered Into by the
company and assenting bond¬
holders, under which (a) the $46,125 still
unpaid on coupon No. 15, due
Dec. 1912, was paid forthwith; (6) the fixed interest on the
1st M. bonds
for the next ffve years (till and
including the coupon due June 1922) was
reduced to 2% per annum, with a further
3% if earned; (c) second mort¬
gage bondholders surrendered their bonds to the Safe
Deposit & Trust
Company of Pittsburgh, to be canceled (along with the
mortgage se¬
curing the same), and accepted in lieu thereof, $ for $, gold incqme deben¬
ture bonds of $1,000 each, due June 16
1948, with Int. not exceeding 5%
p. a., payable only as earned and declared by the board.
The matured
coupons Nos. 16 to 24 (June 1913 to and incl. June 15 1917) on 1st M. bonds
were
detached and delivered to'the
depository in exchange for "certifi¬
cates of ownership," which shall entitle the holder to the
return of the de¬
faulted coupons (without waiver of any
legal liability of the company
for the payment of the same) upon termination of this
agreement or when¬
ever determined by the board.
The company agrees to give the minority
bondholders representation upon its board of directors
and, during the life
of this agreement, Alexander C. Robinson of
Pittsburgh and Arthur E.
Pendergast of Trenton. N. J., shall be two of the directors.
For further
details see V. 105, p. 819.
Fares.—On Nov. 28 1918 Was auth. by N. J. P. U. Comm. to
increase
fares from 5 cents to 6 cents in each zone.
Compare V. 107, p. 182.
Effec¬
tive April 1 1020 was auth. by the N. J. P. U. Comm. to increase
fares from
6 to 7 cents.
Y. 110, p. 1415.
Compare V. 110, p. 261.
In Dec. 1919 was auth. by the N. J. P. U. Comm. to
issue
trust
$58,000
certfs.
V.
109,
STOCK AND BONDS—
Stock $500,000 ($100)
Interest.
Outstanding.
OFFICERS.—Pres.; R. D. Benson; V.-P., W. S. Benson; Sec. & Treas.,
Cutlip; Local Mgr., R. D. Long.—V* 95, p. 1331; V. Ill, p. 1183.
NASHUA, N. H.
NASHUA STREET RAILWAY.—Trolley.
ORGANIZATION.—Incorp. Aug. 14 1885.
between Danforth Road and Morristown
owned by the Morris RR. and are operated under lease; also operates
under lease branch line Morris Plains to State Hospital, 1.36 miles.
Total
road operated,
48.68 miles.
80-lb. girder in cities.
Gauge, 4 ft. 8^ in.
70-lb. T rail in country,
from Landing to Netcong is under con¬
line
A
struction.
OFFICERS.—-Pres., Joseph K. Choate, New York; V.-P., E. I. Shannon,
Pittsburgh, Pa.; Sec. & Treas., O. G. Schultz, Morristown; Gen. Mgr.,
C. O. Weidman.—Y. 109, p. 2357; V. 110, p. 261, 1415; V. Ill,
p. 588.
the property back to the stockholders.
a settlement of the
company's claim
that
for
damages
was
BURLINGTON
the
COUNTY
TRANSIT CO.—Trolley.
Burlington County Ry. Co.
V. 90,
p
Fares.—In Aug. 1917 the N. H. P. S. Comm. auth. an increase In fares
the company's lines to 6 cents.
Effective July 1 1919, fares were raised
on
7
to
cents.
Effective April
and issued. $120,000 ($50).
No bonds.
As of June 1 1916 the N. J. Public Utility Comm. authorized the
company
the fare from Moorestown to Mount Holly and from Muunt
Holly to Burlington from 10 to 15 cents each.
after
taxes,
ending
Dec.
31
1919,
gross,
1920,
fares
were
an
raised to
10
cents
cash;
issue of $65,000 7% pref.
sinking fund stock.
STOCK, BONDS, &G.—
8tock, $325,000 (par $100)
First
mortgage.
($1,000),
Date.
Interest. Outstanding.
Div.&Mat.
$325,000
See text
1901
4 g A-O
150,000
Oct 1 1931
c*tf/Int. at Old Colony Tr. Co.. Boston Trustee.
$150,000.1
gold
Issue
may
be
called
at
105
and
accrued
interest.
Dividends.—Under the lease to the Bay State St. Ry. dividends of 6%
a. were being paid, but payment due Jan. 1 1918 was defaulted—see
p.
remarks
above.
EARNINGS.—For cal. year 1919, gross, $131,691.
For last 11 months
of 1918, gross, $110,240.
OFFICERS.—Pres., George A. Fernald, Boston; Treas., J. E. Tolles,'
Nashua. N. H.—V. 106. p. 86. 607. 1036.
NASHVILLE, TENN.
TENNESSEE RAILWAY, LIGHT & POWER CO.
V. 94, p.1120.
ORGANIZATION.—Incorp. in Maine on April 23 1912.
la a holding company and owns all the stock of Tennessee Power Co., prac¬
tically all the common and $335,300 pref. stock of the Nashville Ry. & Lt.
Co. and practically all com, and pref. stocks of Chatt. Ry. & Lt. Co.
Financing.—On May 21 1918 holders of the $2,500,000 2-year 5% notes,
due June 1 1918, were asked to withhold presentation of same until a loan
could be obtained from the War Finance
Corp.
Shortly after the signing
of the armistice with Germany on Nov. 11 1918 the War Finance
Corp.
no further loans of the character desired by the co. would
be made, thus shutting off this means of refinancing.
Interest at the rate
of 7% was paid on the overdue notes from June 1 1918 to
Dec. 1 1918.
announced that
7% note dated Dec. 1 1918 anl due June 1 1920
Co.
common
stock.
$79,425;
net,
$13,540.
ROAD.—About 15 miles of track from Burlington through Mount
Holly
Hainesport to Moorestown.
60-1 b. T rail.
Gauge, 5 ft.
and
OFFICERS.—Pres., Albert Haines; V.-P., John D. Johnson Jr.; Sec..
Treas., Walter I. Dill; Mgr., Edwin C. Davis.
The
same
collateral
the overdue notes
was deposited under the new issue.
extended for two years from June 1 1920 at 8%.
was
as
pledged under
This latter issue was
On April 1 1919 the stockholders voted to reduce the auth. amount of
pref. stock from $50,000,000 to $10,250,000 in order to effect a saving In
the payment of State taxes. V. 109, p. 1180.
t_
STOCK AND BONDS—
year
1
tokens 7 cents.
V. 110, p. 1973.
In Oct. 1919 the stockholders authorized
Ry & Lt.
July 1 1910, as
1612.
Stock auth
on
to increase
EARNINGS.—For
In April 1920 we were informed
against the Bay State Street Ry.
at a cash discount of 1% was effected, each $1,000 note so issued being
secured by $1,000 face value Tenn. Power Co. bonds and $1,000 Nashville
HOLLY, N. J.
ORGANIZATION.—Incorporated in New Jersey
successor to
operates 16.14
pending.
An exchange for a new
MOUNT
Owns and
miles of main track.
On July 1 1900 was leased to the Lowell & Suburban
for 99 years (succeeded by Bay State Street
Ry.).
The receiver appointed
In Dec. 1917 for the Bay State St. Ry. terminated the lease and turned
Hopatcong. 21.81 miles.
Branch lines, Springfield to Eliza¬
beth. 5.34 miles; Denville to Boonton, 4.90 miles; Dover to Wharton, 1.06
are
Maturity.
W. M.
ROAD.—Owns 44.01 miles road, 58.33 miles of track.
Road Is in oper¬
Maplewood to Danforth Road, Madison, 10.89 miles; Morris-
of road
Outstanding.
ROAD.—-Operates city lines, 16.13 miles, and lnterurban and suburban.
16*13; total. 31.26.
Standard gauge. 70 and 60-lb. T rail.
47 pass, cars
(of which 34 pre-payment); 2 misc. cars and 1 elec. locomotive.
Also owns
an amusement
park on Arkansas River about 5 miles from Muskogee.
town to Lake
The 2.69 miles
1183.
—For y03,1" ending Dec. 31
1918, gross, $169,042; net
bond int- & taxes. $40,857; bal.,
surp., $5,661.
In 19l7, gross,
$185,904; net (after taxes), $59,038.
I
ation from
miles.
increased to 8 cents,
were
p.
cost, with certain restrictions.
Subject to call as a whole, or in part, at
105 and Int. on any Int. day on 3 weeks" notice.
Semi-annual sinking fund
began Jan. 1 1914 of % of 1% of all bonds outstanding.
V. 95, p. 1331.
Dividends.—1908, 6%; 1909, 6%; 1910 to 1912, Inclusive. 8%.
Maturity.
EARNINGS.—For calendar year 1919, gross, $435,101; net, after taxes,
$68,906.
In 1918, gross, $418,977; net, after taxes, $89,474.
Ill,
Interest.
Q-M
$500,000
See text
sinking 1 1912
5 g M-N
600,000 May 1 1934
($1,000)
c»JInt. at Equitable Tr. Co., N. Y., Trustee.
Remaining bonds may be issued for additions and betterments at 80%
or
car
$300,000
First
mortgage
$3.000,000f 1905
5 g J-D 15
3,000,000 June 15 '35
($1,000)
gold callable at(Int. at People's Sav. & Trust Co., Pitts110 and interest
c*&r.tf 1
burgh, Trustee.
Income
debenture
bonds/ 1917
5 g J-D
1,179,000 June 16,'48
($100)
lint, at Peoples Sav. & Tr. Co.. Pitts., trustee
V.
fund gold
Bonds.—Entire
Date.
9 1920, fares
Date.
First mtge $5,000,000
2357.
p.
STOCK AND BONDS—
Stock common (see text)
75
tickets to be sold at 2 for 15 cents.
MORRIS COUNTY TRACTION.—An electric road.
refunding existing bonds and $1.179,000 for
RAILWAYS
Date.
Common $20,000,000 ($100)
Pf $10.250.000($100)6% cum-
Compare V. 108, p. 974.
~Interest.
...
Secured
Q-M
8 g J-D
Outstanding7
Maturity.
$20,000,000
10,250,000
See text
3,375,000 June 1 1922
notes $4,000,000)1918
($1,000&$10,000) red atlOO^Bankers Trust Co., New York, Trustee.
&inton30days'notice.g c*tf.'
The secured notes are secured
by $3,375,000 Tennessee Power Co. 1st 5s
Light Co.
Originally
were extended for 2 years at 8% !
and $3,375,000 common stock of the Nashville Ry. &
bore
Dividends.—Dividends at rate of 6% per ann. were paid quarterly from
co. to and Incl. June 1914.1
None since.
MUSKEGON, MICH.
MUSKEGON
TRACTION
&
LIGHTING
In Jan. 1906 almost the entire stock
& Traction Co.
a
V.
was
organization of
CO.
LEARNINGS.—Combined earnings of constituent companies
acquired by the American Light
82, p. 49..
ORGANIZATION.—Incorporated in Michigan on March 1 1901, and is
consolidation of the street railway, electric-light and gas companies of the
Franchises expire: gas. 1925; railway, indeterminate.
city.
Fares—Service.—On
Aug. 20
1919 the
resumed service after being
shut down for two weeks as a result of riots which followed an attempt to
install a 7-cent fare.
The co. agreed to charge 6-cents for one month,
pending decision of Mich. R. R. Commission.
If at the expiration of 30
days no decision had been rendered, the co. was to collect 7 cents and issue
refund slips for the extra cent charged.
V. 109, p. 1080,
Accordingly
on Oct. 26 1919 the co. raised its fares to 7 cents and is
issuing 1-cent refund
slips bending final decision.
V. 109, p. 1700.
Increase in Gas Rate.—In March 1920 the co. was granted a temporary
rate increase to $1.40 per 1,000 cu. ft.
V. 110, p. 1290.
STOCK AND BONDS—
Stock $600,000 ($100)
Preferred $100,000 6% cum..
First mortgage $600,000 gold
($1,000)
tf
Date.
co.
Interest.
Outstanding.
Maturity.
$690,000
6
1901
Interest
63.000
See text
600.000 Mar 1 1931
5 g M-S
at
Wyoming Valley Trust
Callable at 105
WIlkes-Barre, Pa., Trustee.
Dividends.—On preferred stock 6% yearly from 1902 to date.
ROAD.—Owns 15 miles of road and
serves
as
a
7% int. and matured June 1 1920, but
Co.,
terminal for the Grand
Rapids Grand Haven & Muskegon Ry., which operates 40 miles of track
between points indicated in the title.
OFFICERS.—Pres., J. Q. Rqss; V.-P., J. T. Young; Sec. & Treas.,
Muskegon; Asst. Sec# & Asst. Treas., O. N. Jeliffe: Aud.,
Lawrence; Gen. Supt., Walter Eyke.—V. 101, p. 774; V. 109,
p. 1080, 1700; V. 110, p. 1290.
H. P. Lewis,
(Inter-co.
items eliminated).
Report for calendar year 1919 in V. 110, p. 2188.
Years ending
Gross
Net (after
Interest,
*Divs. on
Balance,
Dec. 31—
Earnings.
Taxes, &c).
&c.
Minor. Stock. Surplus.
X1919
1918
$5,736,402
6,146,619
$2,062,372
2,282.988
(^LATEST EARNINGS.—For
a$l,443,641
al,469,302
$108,235
108,235
$510,496
705,451
lFmontlmencling
June 30:
June30 Years—
Gross.
Net, aft. Tax., &c.
Int., Ac.
1919-20,.
$5,999,999
$2,162,705
b$l,549,387
1918-19
5,660,122
2,175,685
bl,529,362
Balance.
sur.$613,318
sur. 646,323
♦Dividends paid on stocks of constituent cos. not owned by Tenn.
Ry., L. & P. Co.
a Int. on $2,165,000 Chatt. Rys. Co. 5% Cons, bonds
accruing after May 1 1918 not- included, as no part of this int. was earned
and default was made on Nov. H1918.
b Not incl. int. on Chatt. Elec.
Ry. and Chatt. Ry's Co. bonds not accrued or paid due to default,
x Ex¬
cluding earnings, operating expenses and taxes of Chattanooga Railway
Dept. since date of Ry. Dept. receivership, April 18 1919.
PROPERTY. &C.—The constituent cos. own and operate electric-lightand traction properties in Nashville and Chattanooga, and the elec¬
tric light and power systems In Cleveland and several smaller cities.
A
number of other cities, including Knoxville, Tenn., and Rome, Ga., are
power
under contract for electric service.
""OFFICERS.—Pres., C. M. Clark; Vice-Pres's. Geo. E. Hardy and
Clark; Sec.& Treas., G. L. Estabrook; Asst. Sec. & Asst. Treas.,
Lamont and Jacob Hekma.
Under management of E. W. Clark
Mgt. Corp.—V. 106, p. 1462, 2230, 2551; V. 107, p. 502; V. 108,
1611,1820, 1938; V
109,
p.
1180; V. 110,
p.
E. W.
W. L.
& Co.
p.
80,
2188, 2293.
James
(1) Nashville Railway & Light Co.—Street railway and lighting system.
$335,300 of the pref. and practically all of the common stock owned by
Ry., Lt. & Pow. Co.
Tenn.
MUSKOGEE, OKLA.
MUSKOGEE
ELECTRIC TRACTION CO.—A trolley road.
ORGANIZATION.—Incorporated In 1904 In Indian Territory.
In Oct
1912 acquired the People's Electric Ry., which was merged Into this prop¬
erty. and issued $600,000 new 1st M. bonds to refund an earlier Issue of
$450,000 and in part payment for the People's Elec. Ry.
$200,000 addi¬
tional bonds will be Issued In final payment when annual net earnings are
twice the Interest charges on bonds out. Including these $200,000.
Franr
chises are unlimited as to time.
Right of Purchase by City.—The city has the right to purchase all the com¬
pany's property within city limits In 1934 and at the end of every 15-year
period thereafter, at a price determinable by arbitration, but in case of
such purchase the bonds must be either paid off or assumed by the city,
and in the latter event the company must be allowed to operate its cars
from suburban or lnterurban points to the centre of the city on
a
rental
■
So© 'V
*
©5
Has favorable
a
1331»
long-time
power contract with the
Muskogee Gas & EI. Go.
ORGANIZATION.—Incorporated In Tennessee on June 26 1903.
Is*
reorganization of the Nashville Railway Co., sold under foreclosure of the
latter's first consol. mtge.
The Nashville Ry. was a consolidation in 1900
of the Nashville Street Railway, the Nashville & Suburban and the Citi¬
zens' Rapid Transit.
The Nashville Ry. & Light Co. has absorbed the
Cumberland Electric Light & Power. Does practically ail the street rail¬
way and commercial lighting and power business in Nashville.
Franchises
perpetual; those covering the principal railway lines contain a provision
giving the city the right to purchase after 1923.
New Equipment.—In June 1919
was
auth. by the Tenn. RR. <fe P. U.
Comm. to purchase 10 new street cars costing about $57,980, and to issue
notes for $33,425 of this amount.
V. 108, p. 2330.
car
Fares.—Effective Mar. 8 1920 was auth. by Tenn. P. U. Comm. to in¬
fares to 7 cents cash with 4 tickets for 25 cents.
V. 110, p. 1290.
crease
The $274,000 Nashville & Edgefield St. Ry. bonds, due
Jan. 1 1920, were
sued in connection
Eaid off at maturity,therewith.
a like amount of refunding & extension bonds being
$4,000,000 —($100)
Pref 5% cum$2,500,000($100)
McG & Mt V Home RR IstMl
Interest.
Outstanding.
--------
Date.
STOCK AND BONDS—
Common
Maturity.
$4,000,000
-
2.500.000 Jan'20,1
Q-J
----
1886
6 J-J
65.000 July 1 19
Nashville Tr. Co., Trustee.
($1.000)-cnt/l 1887
6
485.000 July 1 1937
($100. $500& $1,000) .cntfj
series
m
(Nashville Tr. Co., Trustee.
1895
5 g J-J
907.000 Jan 1 1925
($1.000)__c»ntfiNa8hvIIleTruHtCo.,Nasbvllle.Tenn.I Trus.
g( 1903
5 g J-J
4,110,000 July 1 1953
(closed) ($1,000)
c*tf[Interest at Guaranty Trust Co., N. Y.,Trus.
Nash Ry & Lt ref & ext mtge f 1908
5 g J-J
4,894,000 July 1 1958
$15,000,000
($500
and [Int. at Guaranty Trust Co., N. Y., Trustee.
$1,000) gold
c*tf[
or at Nashville Trust Co.. Nashville.
Nashville St Ry 1st mortgage!
(closed) g
Nashv Ry & Lt consol M
198-
Bonds.—Int.
both series of McGavock & Mt.
on
Vernon Horse RR. bonds
payable at Fourth & First Nat. Bank, Nashville, and N. Y. fiscal agent.
Lt. consols of 1903 are subj. to call on any int. date on
30 days' notice at 107 H and int.
Sinking fund $30,000 per annum, com¬
menced June 30 1913, but only If company has a surplus above charges and
div. on pref. stock; bonds to be kept Alive in sinking fund.
Int. on the
Nashville St Edgefield Consol. 6s payable at office of company In Nashville
or Hanover Nat. Bank, N. Y.
Int. on Nashville St. Ry. bonds of 1895 pay¬
able at Mechanics' Nat. Bank, N. Y.
Of the new ref. & ext. bonds. $5,567,000 are reserved for prior liens and remainder may be Issued at rate of $1,000
for each $1,250 expended for future Impts. & equipts., not over $700,000 to
be issued in any calendar year, and subject to certain other conditions.
Bonds cannot be called. $1,139,000 of those reported outstanding are held
In the treasury.
Sinking fund of H of 1% of outstanding bonds began
July 1 1918, bonds in sinking fund being kept alive.
See particulars of
bonds, property, &c.. In V, 87, p. 227.
Dividends.—The first div. on p'ref. stock—2H%—waslpaid Jan. 1 1905;
_ie
Is
The Nashville Ity. &
_
_
_
then 2>$% semi-annually to July 1910.
and paid \\i%, and same amount quar.
In Oct. 1910 changed to quarterly
since to and incl. Jan. 1920. April
See V. 110. p. 1643.
Common stock is
by Tennessee Iiy.. Light & Power Co.
1920 dividend passed.
all owned
EARNING8.—Years ending June 30.
Gross
Net (after
1919-20
-
-
practically
Xc
Surplus
-$3,494,221 $798,553 $476,96 $125,000 $196,588
3.132,328
883.949
475,416
125.000 283,533
cai. year 1919, agst, 36,918,204 in 1918.
PROPERTY.—Operates 102 miles of single track
Has 237 passenger
15 work cars.
Hydro-electric power Is obtained on advantageouPower Co., which operates this company's steam
plants of 15,000 k. w. canacitv as reserve.
and
terms from the Tennessee
OFFICERS.—Pres., C.
p.
Gen. Mgr., B. O. Edgar;
108, p. 1611, 1937, 2330; V, 109, p.
M. Clark; V.-P. &.
G. L. Estabrook.—V.
& Treas,,
1080,2357; V. 110
1290, 1643, 2193; V. Ill, p. 1370.
& Light Co.
Co. owns practically ail of the $3,000,000
stock
Receivers Appointed.—On April 17 1919 Federal Judge Sanford appointed
John Graham of Phila. and Percy Warner of Nashville receivers for the co.,
on
petition of the (Commercial Trust Co. of Phila., trustee under the
Chattanooga Itys. Co. 1st Consol. Mtge. of 1906.
V. 108, p. 1610, 1721.
The scope of the receivership Is limited to the railway system only, pending
decision by the Court on the question of whether the light and power depts.
properties are subject to mortgages covering the railway system. V. 108,
p. 1936, 2329; V. 109, p. 1272.
ORGANIZATION.—Incorporated In Tennessee on July 29 1909 as a
consolidation of the Chattanooga Railways Co. and Chattanooga Electric
Co.. per plan V. 88. p. 1497.
V. 89, p. 285.
Own - entire capital stock of
Lookout Mountain Ry. Co.
Does practically all the street railway, elec¬
tric light and power business in Chattanooga and vicinity, incl. the electric
lines up and on top of Lookout Mountain.
Suburban lines run to Mission¬
ary Ridge, Ohickamauga Park and Lookout Mountain.
Franchises, with
minor exceptions, without limit of time, and believed to be perpetual (but
(2) Chattanooga Railway
Tennessee Ity., Lt. & Pow.
common
19-20
see
and $2,000,000 pref
V. 110, p. 658).
Financing.—On May 25 1918 holders of the $750,000 1-year 6% gold
June 1 1918 were asked to withhold presentation of same until a
loan could be obtained from the War Finance Corp.
Shortly after the
notes due
signing of the armistice with Germany on Nov. 11 1918, the War Finance
Corp. announced that no further loans of the character desired by the co.
would be made, thus shutting off this means of refinancing.
Interest at
the rate of 7% was paid on the overdue notes from June 1 1918 to Dec. 1
1918.
On Dec. 27 1918 holders of these notes exchanged their holdings for
new 7%
notes due June 1 1920.
At this latter maturity the co. offered
the holders of these notes in exchange therefor, new one-year 6% notas
(Series "E") dated June 1 1920, of the same face value as the notas surrend¬
ered and 2% in cash.
The collateral pledged under the new issue is the
same as that pledged under old •notes.
The new notes are guaranteed as to
prin. and Int. by the Tennessee Ry., Lt. & Pwr. Co.
The other features of
the new issue are similar to those, of the matured notes.
At the time that
this plan was announced it was stated that holders of 95% of the outstanding
amount had agreed to this extension.
V. 110, p. 2291.
Default.—On Oct. 31 1918 holders of the Chattanooga Rys. Co. 1st Cons.
M. bonds were advised that because of increased expenses and no increase
in revenue the co. was unable to meet the Nov. 1 1918 int. due thereon.
.V. 107. p. 1836.
On Dec. 30 1918 holders of the $625,000 1st Mtge. Chattanooga Electric
Ry. 5% bonds due Jan. 1 1919 were requested to withhold presentation of
same until a plan providing for this maturity could be formulated.
The
int. due Jan. 1 1919 thereon has been paid.
V. 108, p. 77.
In May 1919
the following committee announced that it had arranged to sell all of the
outstanding $625,000 1st M. os at 100 with int. accrued from .|an. 1 19L9
at 6%. V. 108, p. 2240. [We understand that this transaction was con¬
summated, the Safe Deposit & Trust Co. of Baltimore being the purchaser
—Ed.]
See also V. 109, p. 1179.
Committee for Chattanooga Electric Ry. 1st M. 5s.—Chairman, Chas. C.
Homer. Jr.; Arnold Elzey Waters, John C. Legg, Jr.; Sec., Joseph B.
Kirby.
Depositary: Safe Deposit & Trust Co., Baltimore.
Deposits have
been called for.
V. 108, p. 1510, 1610.
1920 the Tenn. P. U. Comm. auth. the
Fares.-—In Feb.
co.
to charge a
7-cent fare and ordered
service made.
V.
impts. necessary to furnish safe and adequate
110, p. 658.
STOCK AND BONDS—
Date.
Interest.
Common $3,000,000 ($100)
Pref $2,000,000 5% cuui($ 100)
F"-*t and refunding
Q-J
mortgage]
1909
5
V.
(a)
Railway Co.
Lookout Mountain
ORGANIZATION.—Owns electric line on top of Lookout Mountain
through stock ownership, controls the Lookout Incline Co. (whose
stock and bonds are deposited uuder the company's mortgage).
Stock
all owned by the Chattanooga Railway & Light Co.
Private right-of-way
except short piece of track on which franchise expires in 1926.
and,
Interest.
Date.
STOCK AND BONDS—
Outstanding.
Maturity.
$500,000
Stock ($500.000)
--?=sa
6 g M-N
389.000 May 1 1956
gold
cHf/Philadelphia Trust Co., Phila., Trustee.
Bonds.—Lookout Mtn. Ry. bonds are red. at 105 and int. on any int.
date on 60 days' notice.
$1,611,000 reserved for impts., &c., at 85% of
cost of same.
Bonds outstanding are pledged as part security for Chatta¬
nooga Ry. & Lt. 5% notes.
Interest payable at offices of E. W. Clark &
Co.. Phila., and Hodenpyl, Hardy & Co., New York.
EARNINGS.—Included in Cnattanooga Ry. 8c Light Co. earnings.
ROAD.—Operates a cable road of 5.000 feet and haw 9.8 miles of electric
1st mtge
$2,000,000 ($1.000)»
1913
-
road around and on top
of mountain.
OFFICERS.—Pres., C. M- Clark; V.-P.. M. 9. Hopkins;
G. L. Estabrook: Gen. Mgr.. F. W. Hoover.—V. 83. p. 323;
(3) Tennessee Power Co.
Stock all owned by Tennessee Ry.,
Sec. & Treas.,
V. 87. p. 226.
Light 8c Power Co.
ORGANIZATION*—Incorp. in Tennessee on April 24 1912 as a consoli¬
of the Eastern Tennessee Power Co. and Great Falls Power Co.;
has also acquired the property formerly ^belonging to 8weetwater Elec. Lt.
Co.. Cleveland (Tenn.) El. Lt. Co., Sparta Elec. Light Sc Power Co., and A.
& T.
Power Co.
Franchises.—The co.'s power plants are owned in fee
and its transmission lines are on private right of way and therefore not
subject to franchise limitations.
Franchises of distribution companies
dation
are
Balance.
40,255,322 pass, carried in
Sec.
OFFICERS.—Pres., C. M. Clark; V.-Ps., H. L. Clark and B. C. Edgar;
& Treas., G. L. Estabrook; Asst. Sec. & Asst. Treas.. C. Wright.—
108, P. 1610, 1721, 1936, 2329; V. 109, p. 477, 1272; V. 110, p. 608,
2192, 2291; V. Ill, p. 1277, 1565.
Sec.
favorable.
Date.
Interest-.
Outstanding.
Maturity.
($100)
—All owned by Tenn. Ry . Lt. & P. Co.—
$50,000,000 gold- 1912
5 g M-N
$7,936,000 May 1 1903
guar, p & i ($l,000)-_c*ntf flnt. at Bankers Trust Co.. N. Y.,Trustee.
Bonds.—Of the remaining bonds, $3,975,000 are in treasury, all of which
are pledged as collateral on advances by the Tenn. Ry., Lt. & Power Co.
($3,375,000 being deposited under the Tdnn. Ry., Lt. & Power Co. collat¬
eral note), $554,000 are reserved for permanent exts., add'ns and acquisi¬
tions, and $37,500,000 are reserved for exts.. acquisitions and impts.
Sinking fund. 1% per ann. of bonds out, began May 1 1917; to be used for
extraordinary renewals, renlacements or additions, enlargements and exten¬
sions; also for cancellation of bonds.
$35,000 in sinking fund.
Red. in
whole or in part at 107 lA and int. on 12 week's notice.
See V. 95, p. 549.
F. N. B. Close, N. Y., is also trustee.
1
STOCK AND BONDS—
Pref.Div.
5%.
Interest.
Taxes).
Earnings
Year—
[Vol. 111.
RAILWAYS
ELECTRIC
76
g
M-N
Stock $20,000,000
First
mtge
EARNINGS.—For years ending
Net
1918.
1919.
1,306,629
1,360,002
$860,259
Exp.,rents,tax
Dec. 31:
1918.
1919.
$2,166,888 $2,237,151
Gross earns
$877,149
Int.
(less portion
ch'g'bleto cap'l)$649,581
$629,266
.$210,678 $247,883
Surplus
PROPERTY, &G.—Owns water-power sites on the Ocoee River near
Parksville, Tenn.. with an ultimate capacity of 80,000 h. p.
Option has
been secured on sites for the development of 50.000 h. p. additional, and at
Great Falls, Tenn., owns a site capable of developing 80,000 h. p.
Of the
development In operation, Ocoee No. 1, 18,750 k. w., was put in operation
Jan. 1912 and No. 2. 15,000 k. w., in complete operation April 1
1914.
A 15.000 k.w. steam plant at Parkesville was placed in operation in July
aud Nov. 1916, and a 10,000 k. w. hydro-electric plant at Great Falls placed
in oper. Jan. 15 1917; also owns a 300 k. w. hydro-elec. plant at Sparta; total
capacity, 59,050 k. w.
Power is also purchased from Chattanooga 8c
Tennessee River Power Co.
Also owns 534 miles and leases 31 miles hightension transmission lines.
Supplies practically all electric current used in
Nashville,
Chattanooga,
Knoxville, Murfreesboro, Cleveland, Athens,
Etowah. Sweetwater, Lenoir City, Loudon. Franklin and Sparta, Tenn.,
and Rome and Dalton, Ga.
Has contract for large block of power with the
Aluminum Co. of America at Marysville; also has contract with the Ameri¬
can Zinc Co. at Mascot.
K.W. hours generated in 1919, 422.272,590 (of
which 95.9% water power and 4.1% steam) against 519,959,383 in
1918
(91.4% water and 8.6% steam).
OFFICERS.—Pres., C. M. Clark; V.-Ps., G. E. Hardy and B. C. Edgar;
Sec. & Treas., G. L. Estabrook.
Under management of E. W. Clark & Co.
Management Corp., Phila.—V. 108, p. 1615, 1941.
UNION TRACTION CO.
~
ORGANIZATION.—Incorp. in Tennessee on Oct. 12 1917 as successot
Nashville-Gallatin Interurban Ry., sold at foreclosure Sept. 25 1917
STOCK AND BONDS.—
Date.
Interest.
Outstanding.
Maturity.
Stock $300,000 ($100)
$300,000
First
M
($300,000)
gold
\ 1917
6g J-D
300,000 Dec 1 1947
^
,
to the
($500)
c*&r.cpt[Nashville Trust
Bonds.—Are callable on any interest date at
-
EARNINGS.—For 12 mos. ending Dec.
1918, gross, $164,095", net,
Co., Trustee.
105.
31 1919, gross, $152,966.
ROAD.—Operates 27.05 miles of track between
entering Nashville over tracks of
70-lb. T rails.
Standard gauge.
Nashville and Gallatin,
Nashville Ry. & Light Co. (4.4 miles).
OFFICERS.—Pre*, and Gen. Mgr., H. H. Corson; V.-P., John
Secy, and Treas., Guilford
NASHVILLE
This company
In
$40,447.
A. Bell;
Dudley.—V.105, p. 1618, 1709.
TRACTION CO.
late In 1914 Increased Its authorized
L
,
J
capital from $500,000
line in Nashville. 4H miles
service.
In April 1915 It was
reported that the Detroit interests had sold their control,
v. 100, p. 1349.
OFFICERS.—Pres., Walter O. Palmer, Nashville; V.-P., W. H. Saw¬
yer (E. W. Clark Mgt. Corp.). Columbus, O.; Gen. Mgr., G. B. Howard.
$1,000,000 and Is constructing a trolley
built, 2 miles In operation.
3 leased cars In
to
Nashville.—V. 99. p.
1366;
V. 100. p. 1349.
Immtfmmrn
*
I
car
Outstanding.
Maturity
$3,000,000
_%
2.000.000
2.395.000 Mav 1 1956
g ($1,0010 e*tf)lnfc. at Fidelity Trust Co., Phila., Trustee.
1906
5 g M-N
2.165,000 May 1 1956
($500& $1,000) g_c*tf|lnt. at Commercial Tr.Oo. Phila..Trust
Chatt El Ry 1st M $025,000
1898
5 g J-J
025.000
Jan 1 1919
gnot red ($1,000).. c*ntfflnt. at, Maryland Trust Co.. Bait., Trustee
Secured notes $1,000,000($l,-t
1920
6 g J-D
750.000
June 1 1921
000) g guar p & i "E"cntf/Pa. Co. for Ins. on Lives, &c., Phila., Trus
natchez.
miss.
SOUTHERN R AILWAY Sc LIQHT CO.
co. having abandoned street railway service
This
1920, we have eliminated the statement
ment
in Natchez on April 5
from this section.
For last state¬
published see "Electric Railway" Supplement of April 24 1920.
$15,000,000
Chatt Rys 1st cons mtge, seel
newark, n. j.
text
block.—Pref. shares equally with com. after com. has received 5%.
Bonds.—The $3,000,000 Chattanooga Rys. mtge. has been closed- call
able any int. date at 107 and Int. on 3
$2,790,000
and
are
mos.' notice.
Of the 1 st & ref. bonds
reserved for prior liens and $9,133,000 for ext.. betterments
$682,000 pledged
Impts. at 85% of cost.
nooga Railway & Light Co. 6% notes due
at 105 and int on any int. date on 60 days'
as part security for Chatta¬
1921.
No sinking fund; callable
notice.
Int. payable at Hodeu-
pyl, Hardy & Co. and at office of trustee.
V. 89, p. 846.
Interest on notes is payable at office of E. W. Clark & Co., Philadelphia,
Secured by $682,000 Chatt. Ry. & Lt. Co. 1st & ref. 5s and $389,000
Lookout Mountain 1st M. 6s.
Red. at par and int. on any int. date on
30 days' notice.
V. 110, p. 2291.
Pa.
EARNINGS.—12
Year—
1918-19
*
mos.
ending June 30:
Gross
Earnings
..$1,211,210
996,226
Exp.&
Taxes.
$791,189
634,430
Light & Power Dept. only.
Net
Earnings
$420,021
,361,796
Interest
&c.
Surplus
Deficit.
or
$252,525 sur.$167,496
252,589 sur. 109,207
.
,
ROAD.—Including Lookout
Mountain
Ry.,
operates
80 miles
of
single track.
Gauge, 4 ft. 814 in.
T and girder rails.
84 motor, 12
trailers, 2 Incline cable and 8 work cars.
Power is obtained from the Ten¬
nessee
Power Co..
which operates this company's steam power stations
of 5,000 k.w. capacity as a reserve station.
SERVICE CORPORATION
OF NEW JERSEY.—Street
railway, gas and electric.-—(See map on pages 80 and 81.)
PUBLIC
ORGANIZATION.—Incorporated in New Jersey on May 6 1903 and
through ownership of stock, Public Service Ky. Co., Public
Service Eiec. Co., Orange & Passaic Valley Ry. Co.
and United Elec. Co. of N. J.
The stockholders of the two cos. last named
aud also the stockholders of certain of the cos. out of which Public Service
Ry. Co. was subsequently formed (namely North Jersey Street Ry. Co.,
Jersey City Hoboken & Patereon St. Ry. Co. and Elizabeth Plainfield 8c
Central Jersey Ry. Co.) were given certificates described below in exch.
for their stock.
See plan in V. 76, p. 865 and also p. 1249.
The Fidelity
Trust Co. of Newark financed the transaction.
Controls practically the entire street railway business of Northern New
Jersey and the gas and lighting interests of the greater part of New Jersey.
Also owns entire capital stock of Middlesex Electdc Light & Power Co.,
Morristown Gas Light Co. (V. 91, p. 95), Nichols Elec. Light & Power Co. of
Nutiey, N. J., Citizens' Elec. Light. Heat & Power Co. (Perth Amboy,
N. J.), Burlington Elec. Light & Power Co., Public Service RR. and Weetiawken Contracting Co.;
a majority of stock of Princeton Light, Heat &
Power Co. and Shore Lighting Co. and practically all of the common stock
of New Jersey & Hudson River Ry. & Ferry Co.
controls,
Service Gas Co., Public
Merger of Subsidiaries.—In 1907 North Jersey Street Ry. Co., Jersey
City Hoboken & Patereon Street Ry. Co. and
United Street Ry. Co. of
Central Jersey were consolidated under the name of Public Service Ry. Co.,
which see below.
V. 85. p. 406 and 470.
To Public Service Ry. Co. also
of various railways formerly held by Public
On Dec. 28 1915 the merger of the Pub. Service
have been transferred the leases
Service Corporation.
Ry. and the P. S. Newark Terminal Ry. was ratified.
Oct.. 1920.)
ELECTRIC
RAILWAYS
In Oct. 1909 all leasehold Interest In
gas properties and all rights under
operating agreement with Piainfield Gas Light Co. were
assigned to the
Public 8ervice Gas Co.. which see
below; also V. 89, p. 594. 721, 847.
In July 1910 all leasehold interest In
electric light and power properties
were assigned to the
Public Service Electric Co.
V. 90, p. 1614.
North Jersey Power Co.
Organization Postponed.—The formation of a new
company (plan was given in V. 110,
p. 1849), to be known as the North
Jersey Power Co., has been
indefinitely postponed.
For details see V.
Ill, p. 389.
Newark Terminal.—See Public
Service Ry. below.
Fare Decision.—-The U. S.
Supreme Court on June 8 1914 affirmed the
decision of the New Jersey Court of
Errors and Appeals, holding that the
Chosen Freeholders of Hudson
County, N. J., had tne right to reduce fares
to 6 cents per round
trip on the Port Richmond (Staten Island) A
Bergen
Point (N. J.) Ferry Co.. which is owned
by the Public Service Corporation.
After operating Tor a
year under this rate, an Injunction was
granted by
the U. 8. Dist. Court and the 5-cent
one-way fare restored as of Jan. 1
1916,
pending a hearing.
This injunction has since been made
permanent.
Fare Increases.—See Public Service
Railway below.
-nrQ™l3f£ease'~rPn Jul7 26 1916 auth. capital stock was Increased from
$25,000,000 to $50,000,000.
Shareholders of record Oct. 2 1918 had the
right to subscribe for $5,000,000 of the new stock
pro rata at par.
V. 103,
illy*
p-
Financing.—On Jan. 27 1919 the directors auth. the creation of
8% cum. pref. stock to the authorized amount of
$50,000,000.
new
of
an
issue
Of the
sufficient amount is reserved for the
conversion of the 3-year
1 1922 and $10,000,000 was offered
pro rata at par to the
shareholders.
V. 108. p. 580.
Compare V. 108, p. 481.
In February 1919 the co. issued
$12,500,000 3-year secured conv.7% notes
maturing March 1 1922, the proceeds of which, together with the
proceeds
of the $10,000,000
pref. stock (see above), were used to pay off
$7,500,000
3-year notes due Mar. 1 1919, discharge
floating indebtedness, provide addi¬
tional workim capital, and diminish
J
--1-*
materially the annual interest charges.
V. 108, p. 58
684.
Compare V. 108,
stock
a
notes due Mar.
p.
STOCK AND BONDS—
Stock
com
Date.
481.
Interest.
Q-M 30
8 Q-M
$50,000,000 ($100).
Outstanding.
Maturity.
$29,999,600
See text
10,058,900 Sept. '20,2%
6 M-N
♦20.050,770
Perpetual
ntf Fidelity —
~
Trust Co.. Newark, Trustee.
General mortgage$50,000.000
1909
5 g A-O
50.000.000
Oct 1 1959
gold ($1,000) s f
c»tf Int. at Fidelity Trust Co.,
Newark, Trustee,
or at office of J. P.
Morgan A Co.
3-yrsecconvnotes$12,500,000 [ 1919
7 g M-Sl
12,441,100 Mar 1 1922
($100, $500, $1,000 and/Interest at Fidelity Trust
Co., Philadelphia,
$5,000)
gold
c*tf i
Trustee.
•Of which $920,485 owned
by the Corporation.
Pref 8 % cum
$50,000,000,($100) ..r .
Trust certificates $20,200.0001 1903
_
,M,
Slock.—The com. stock listed on N. Y. Stock
Exchange. Pref. stock has
full voting powers and is
pref. as to assets and dividends.
Red. on 30 days'
notice at 110 and accrued divs.
A sufficient amount is reserved to
provide
for the conversion of the
3-year notes due Mar. 1 1922, into which the notes
may be converted up to Dec. 31 1921.
V. 108, p. 580.
Up to Oct. 11920
$58,900 had been so converted.
Bunds.—The trust certifs. bore 2% Int.
(dating from June 1 1903) the first
two years, 2the third
year, and increased by H % each
following year
until 6% was reached in the tenth
year, which is tne rate now paid.
See
V. 80, p. 164.
The following shows the terms upon which the
stocks of the
constituent companies were
exchanged for the trust certificates.
The
stocks acquired are pledged as
security for the trust certificates.
and electric properties of Princeton
Light, Heat A Power Co. and Shore
Lighting Co.
In addition leases and operates the power stations owned by
Public Service Ry. Co.
Rate Increase.—In Feb. 1918 the N. J. P. U. Comm. auth. an increase of
25%
in wholesale and certain retail power rates as a "war emergency
measure."
In July 1918 the Comm. held that the increased
power rates
applicable to all consumers regardless of existing contracts.
V. 107,
were
p. 86.
On July 31 1919, however, this ruling was modified
this 25% surcharge
applicable to wholesale
STOCK.—Auth., $50,000,000 (increased
Total
Total
•Elizabeth
Piainfield
A
cates.
United Electric Co. of New Jersey.
4 1899.
Lease.—Leased July 1 1907 for 999 years to Public Service
Corporation.
In July 1910 lease assigned to Public Service Electric Co.
Under the
lease the $400,000 surplus cash assets of company were divided and a
special dividend of 5% was paid June 29 1907 (V. 85, p. 44).
Rental Is
3% for two years, 4% for next two years and 5% thereafter.
V. 85,
p. 44.
public Service Corporation owns $19,604,500 of thiB company's stock and
$683,000 of its first mortgage bonds.
STOCK AND BONDS—
United Electric Co
3,000.000
1,000,000
20.000,000
3.000,000
923,500
19,604,500
35%
7.000.000
30%
900.000
lo°I
300,000
6,000,000
$20,200,000
•
Now merged in Public Service Railway
Co., which see below.
The trust deed provides that the stocks
pledged shall not be used so as to
increase the capital stock of any of the
companies nor to create any new
liens upon the respective
companies except to take up existing debt of any
such company or of underlying or
subsidiary companies.
$50,000,000 Mortgage.—Of the $50,000,000 bonds reported
outstanding,
$2,477,000 have been purchased by the sinking fund,
$12,500,000 are in
the treasury and $14,000,000 are
deposited as collateral to the 3-year gold
notes due March 1 1922.
For security of bonds see V. 89,
p. 1348; V. 90, p.
698.
Redeemable as a whole (but not jn
part) on any interest date since
Oct. 1 1919, at 105 and int.
Commencing Aug. 1 1913 an annual sinking
fund payment of $209,500 draws bonds at
105 and int.
Bonds are listed
Im. Y. and Phila. Stock
Exchanges.
V. 91,
93, p. 1191; V. 109, p. 982, 1700.
Notes.—The 3-year notes
p.
717; V. 92,
p.
1179; V.
secured by a pledge of $14,000,000 Public
Service
Corp. Gen. Mtge. 5% bonds and $5,000,000 capital stock of the
Public Service Electric Co.
Are convertible at option of holder arf
any
time prior to Dec. 31 1921. into the
company's 8% cum. pref. stock an the
basis of 100% for the notes and 101for the
stock.
Red. all or in
part on
60 days' notice at a premium of 1
% with accrued interest for each year,
or any part
thereof, of unexpired life.
Interest payable in New York and
Philadelphia.
V.
108,
p.
are
580.
Dividends.—An initial monthly div. of 2-3 of 1
% was paid on the pref.
stock on Mar. 31 1919.
In June 1919 2% was paid and same rate has been
paid regularly quarterly since to and incl. Sept.. 1920.
On com., first
div. of 1% was paid June 29, 1907;
1% was paid Sept. 30 1907 and 1%
Dec. 31 1907.
In 1908, 4%.
In 1909. 4H%.
In
1910, 5%.
In 1911
1914, 6%.
In 1915, 6%%.
In 1916, 7^%.
In 1917, 8%.
In 1918.
6%.
V. 107, p. 1385, 2377.
In 1919, March, 1H%; June, 1H%;
Sept.,
1K%.
Dec. 1919div. passed.
(See V. 109, p. 2357.)
In 1920,Mar. 1%.
June, 1%; Sept., 1%.
to
REPORT.—For cal. year 1919, report in V.
Earnings—
1919.
1918.
Gross
Railway
110,
p.
1284, 1306.
1917.
1916.
-.$24,212,025 $20,901,063 $19,494,678 $18,255,614
Gas company.
15,078.590
14,823,424
12,954,256
11,911,626
Electric company
20,190,376
17,745,869
15,240,114
12,898,064
Total gross earnings..$59,480,991 $53,470,356
$47,689,048 $43,065,304
Oper. expenses & taxes.$40,821,282 $33,824,826) $30,539,369 $25,863,854
Amortization charges
2,803,808
3,113,558/
company
Total expenses
$43,625,090 $36,938,384 $30,539,369 $25,863,854
$16,531,972 $17,149,679 $17,201,450
Net earnings.
$15,855,901
P. S. Corp. of N. J. inc.
from
securs.
from misc.
pledged &
1,952,883
sources
Total income
Deduct—
1,891,667
1,729,865
1,802,536
$17,808,784 $18,423,640 $18,879,544 $19,003,986
Int. & rentals of leased &
controlled companies_.$12,443,377
Fixed chgs. P. S. Corp..
4,351,506
Other
deductions
Dr.406,537
Divs.P.S.Corp.com, stk(4^)1349982
Divs.P.S.Corp.pref.sk(6 2-3)669,771
Balance, surplus..tdef.$l,412,389
$12,320,529 $12,299,838 $11,963,114
4,282,680
4,202,307
4,099,005
Cr.841,866
Cr. 117,161
Cr.5,826
(8)1,799,976 (8)239,968(7X) 1937500
$862,321
$94>r593
$1,010,193
OFFICERS.—Pres., Thos. N. McCarter; V.-Ps., Randal Morgan, An¬
thony R. Kuser, Percy S. Young, E. W. Wakelee;
Sec.; Percy Ingalls:
Treas., T. W. Van Middlesworth; Comp., Wm. 8. Barker.—Y.
110, p.
1188, 1284, 1290, 1306, 1849; V. Ill, p. 389, 494, 589, 990.
PUBLIC SERVICE
ELECTRIC CO.
Controlled by Public Service Corp. by
ownership of entire
except directors' shares.
Maturity,
Nor Hudson Lt Heat A Pow
1898
5 g A-O
367.000 Oct
1 1938
($1,000)
tf Int. at N. J. Title Gu. A Tr. Co., J. O., Trus.
Bonds.—In addition to the above there are $115,000 Con. Lt., Ht. A Pow.
bonds in hands of trustee.
Int. on 1st mtge. is guaranteed by Pub. Serv.
$2,000,000
Corp., which also
agrees to
provide for payment of prln. by extension,
re¬
funding
or otherwise.
V. 90, p. 114.
First mtge. bonds are reserved to re¬
tire Con. Lt., Ht. & Pow. ana North Hudson Lt., Ht. A Power Bonds.—
V. 85. p. 44. 288. 415; V. 90, p. 114. 1106; V. 93. p. 414; V. 94.
p. 987.
Middlesex Electric Light & Power Co.
ORGANIZATION.—Is a consolidation of Cartaret Electric Light A
Power Co. and Middlesex Lighting Co.
Was leased May 1 1908 for 999
years to Public Service
on
bonds.
Stock all
Corp. for an annual rental of 5% on stock and int
assigned to Public Service Electric Co. in July 1910.
(except directors' shares) by Public Service Corporation,
$21,000 of the first mortgage bonds.
Lease
owned
which also
owns
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
•
$175,000
($200,000)1 1905
5 g J-J
181,000
Jan 1 1955
gold
tf [Fidelity Trust Co., Newark, Trustee.
Bonds.—Of the bonds, $19,000 are reserved for improvements.
Stock
($200.000)
First
-
mortgage
Nichols
Electric
Light
&
Power
Co.
of
Nutley, N. J.
Stock $25,000 ($50);
ORGANIZATION.—Incorp. In N.J.Jan.3 1896.
by Public Service Corp except directors' shares.
No bonds. Was
leased May 1 1908 for 999 years to Public Service Corp. (lease
assigned to
Public Serv. Elec. Co. in July 1910) for an annual rental of 10% on stock.
Weehawken
ORGANIZATION.—Incorp.
Jan.
pref
in
Contracting Co.
N. J. May 9 1904.
1
1910 for 999 years to Public Service
Conp for
stock
Lease assigned in July 1910 to Public
Stock all owned
by Public Service Corp
STOCK AND BONDS—
Stock com $70,000 ($50)
Date.
,
leased
on
on
Service Electric Co.
except directors' shares
Interest.
Outstanding.
Maturity.
$70,000
__
Pref
$41,050 ($50)
First mortgage $30,000
($250)
Was
bond int: and 6%
41.050
•
gold?
1908
6 g F-A 20
30,000 Feb 20 1928
c*tf I Interest at Weehawken Trust Co.. trustee.
Citizens' Electric Light, Heat & Power Co.
15 1910 for 999 years, and In July
to Public Service Electric Co.; rental equivalent to
Leased to Public Service Corp. June
1910
10%
lease assigned
on
capital stock.
ORGANIZATION.—Incorp. in New Jersey on Mar. 1 1905.
Stock
auth., $125,000 ($25); outstanding, $41,400 (ntf), all owned by Public
Service Corp. except $225 in hands of public, incl. directors' shares.
Burlington Electric Light & Power Co.
ORGANIZATION.—Incorporated Oct. 6 1888 in New Jersey.
Public
Corp. owns entire issue of stock, except directors' shares.
Stock
auth., $25,000 ($50)
outstanding, $17,550.
No bonds.
Leased for 900
Service
years
from May 1 1911 to Public Serv. El. Co. at
a
rental of $2,250 per ann.
Cinniminson Elec. Light, Power & Heating Co. of Rlverton, N. J
ORGANIZATION.—Incorp. Nov. 28 1892 and leased to Public 8ervice
Elec.
Co.
April 1
accessary to
1914 for 46 years at a rental consisting of the amount
maintain the corporate organization of the lessor, the Interest
bonded Indebtedness of lessor, and $100 per ann., payable each Apr. 1.
All
stock
($50,000 authorized and $20,000 outstanding) and bonds
on
($40,000)
owned
by Riverside Traction
Co.
Bordentown Electric Co.
ORGANIZATION.—Incorp. May 28 1912, and Is leased to Public Serv.
Elec. Co.
*ary to
April 1 1914 for 46 years for $100 per annum and amount necesmaintain corporate organization of the lessor.
All the $50,000 auth.
and outstanding stock of this company is owned by the Riverside Traction
Co.
No bonds.
Paterson & Passaic Qas & Electric Co
Somerset Un. & Middlesex Ltg. Co-_-—
South Jersey Gas, Elec. & Traction Co
See below
Gas & Electric Co. of Bergen County
Shore Lighting Co
under
Public
Service Gas Co.
Princeton Light, Heat & Power Co
PUBLIC SERVICE GAS CO.
Controlled by Public Service Corporation by ownership of entire
capital
itook except directors' shares.
ORGANIZATION.—Incorporated In New Jersey and was created by
changing the name of the old Oxy-Hydrogen Co. of the United States
(incorporated in New Jersey in 1873).
This latter is said to have had a
perpetual charter under legislative grant conveying the right to manufacture
»na distribute gas throughout the State.
Company has no bonds.
Leases.—On Oct. 1 1909 Public Serv. Corp. assigned to Public Service Gas
Co. the leases of Essex A Hudson Gas Co., Newark Consolidated Gas
Co.,
The East Newark Gas Light Go. and Hudson County Gas Co.,and, in so far
as they relate to the manufacture and distribution of
gas, the leases of South
Jersey Gas, Elec. A Trac. Co., the Paterson A Passaic Gas & Elec. Co.,
Somerset Union A Middlesex Lighting Co. and The Gas A Elec. Co. of Ber¬
gen County.
V. 89, p. 594, 721.
Gas Light Co. and Public Service
Service Gas Co.
Operating agreement between Piainfield
Corp. was also assigned to the Public
Also leases the RIdgewood Gas Co. and Morris town Gas
Light Co., and the
gas
pronerties of Princeton Light, Heat A Power Co.
and Shore Lighting Co.
■
On July 9 1920 the co. issued $1,060,000 additional capital stock.
Stock, $30,000,000; $15,160,000 outstanding all ownea oy Pub.Ser.Oorp.
except directors' shares.
•
Stock will be issued (V. 89, p. 594) from time to time at par to Public
Service Corp. only for cash or for improvements at actual cost thereof.
.No bonds.
Real estate mortgages, $233,167.
,
.
capital stock
ORGANIZATION.—Incorporated in New Jersey on June 13 1910.
Leases.—In July 1910 Public Service
Corp. assigned to Public Service
Electric Co. the leases of United Elec. Co. of N.
J., Middlesex Elec. Light A
Power Co., Weehawken Contracting Co., Nichols Elec. Lt. A
Power Co. of
Nutley, N. J., and Citizens' Elec. Light, Heat A Power Co. and the electric
properties of South Jersey Gas, Elec. A Trac. Co., The Paterson A Passaic
Gas A Elec. Co., Somerset Union A Middlesex
Lighting Co. and The Gas
A Electric Co. of Bergen County.
Also leases Burlington EI. Lt. A Pow.Co.
Cinnaminson Elec. Lt., Pow. A Heating Co. and Bordentown Elec.
Co.,
Outstanding.
all owned
Total
on
Interest.
J-J
$20,000,000
See text
1899
4 g J-D
mtge $20,000,000 gold
18,617.500 June 1 1949
($500 and $1,000) ._c».ntf Int. at N. J. Title Gu. A Tr. Co.. J. O.. Trus.
Con Lt Heat A Pow $1,000,1898
5 g J-D
308.000 June 1 1938
000 ($500) gold
tf Int. at N. J. Title Gu. A Tr. Co., J. C.,Trus.
First
$6,000,000
Cen¬
tral Jersey Ry, Co
Orange A Passaic Val. Ry. Co.
Date.
Stock$20.000,000
Exchanged.
40%
to make
so as
only.
ORGANIZATION.—Organized March
Total Ctfs.,
Certifi- If All Stock
Stock.
Deposited.
Jersey Street Ry
$15,000,000 $14,994,400
•Jersey City Hoboken A Paterson Street Ry
20,000.000
19.984.600
power rates
from $30,000,000 in
May 1917);
outstanding, $30,000,000. all owned (except directors' shares) by Public
Service Corp.
(In June 1920 applied to the N. J. P. U. Comm. for auth.
to issue $3,OOO,0OO additional
capital stock for add'ns & ext'ns.
V. 110,
p. 2663.)
No bonds.
Real estate mtges., $324,033.
EQUIP. TRUST CERTFS.—Bear int. at 8%.
$1,300,000 outstanding
($1,000) tf. Are secured on equipment costing approx. $1,734,000".
Due
$65,000 each Feb. and Aug. 1 beginning Feb. 1 1921.
Philadelphia Trust
Co., Trustee.
V. Ill, p. 596.
PROPERTY, AO.—On Dec. 31 1919 had 18 generating stations with a
capacity of 277,555 k. w., and 71 sub-stations; 925 miles of transmission
line and 157 miles of conduit.
Meters, 196,807.
Number of street arc
lamps, 9,353, and street incandescent lamps, 33,415.
K. w. hours sold in
1919. 442.641,630.
Total connected load in k. w., Dec. 31, 1919, 464,605.
OFFICERS.—Pres., Thos. N. McCarter; V.-Ps., Edmund W. Wakelee
and Percy S. Young;
V.-P. A Gen. Mgr., Farley Osgood; Treas., T. W.
Van Middlesworth; Sec., Percy Ingalls.:—Y.
107, p. 807; V. 110, p. 2663;
V. Ill, p.
£96.
New
•North
77
Rate
.
„
Reduction.—-Accepting the order of the Board of Public Utility Com¬
on Dec. 27 1912, the company reduced its rates in the
on Feb. 1 1913 from $1 10 per 1,000 cu. ft. (with a reduc¬
tion of 10c. if bill is paid within a certain time) to $.90 per 1.000 cu. ft.
flat, and in pursuance of the Board's recommendation set the same reduced
rate throughout the State on May 1 1913.
See under Pub. Serv. Corp. in
V. 96, p. 136.
Validity of order was upheld on July 7 1913 by the New Jer¬
sey Supreme Court (V. 97, p. 238). but on appeal to the Court of Errors
and Appeals the decision of the former was reversed on Dec. 9 1914 by a vote
missioners, made
Passaic division
of 6 to 4. Y. 96. p. 1749.
On June 14 1915, however, the Court of Errors
reversed Its decision ef Dec. 9 1914 by the same vote, and sustained the
finding of the lower Court upholding the order.
Y. 100. p. 2089. The
company appealed to the U. S. Supreme Court but in 1917 the case was
dismissed upon the co's request.
The Court also reversed its decision dismissing the appeals of the cities
of Passaic and Paterson, which sought to have an 80-cent rate put into effect.
In Oct. 1917 the N. J. Bd. of P. U. Comm. denied the petition of the
Bonds.—$1,128,072 of the 1903 bonds have been
companies in the State for the fixing of a lower heating standard for
V. 105, p. 1622.
March 1 1918 the Board of P. IT. Comm. auth. the
company, as a "war emergency measure," to add a surcharge of 7 cents per
1,000 cu. ft., making the total rate 97 cents per 1,000 cu. ft.: also to with¬
draw all rates under 65 cents per 1.000 cu. ft.
See also V. 109, p. 78, 179.
On ftov. 20 1919 was auth. by the Coram, to Increase rates from 97 cents
per 1,000 cu. ft. to SI 15 per 1,000 cu. ft.
V. 109, p. 1993. Effective
Aug. 1 1920 was auth. by the N. J. P. U. Comm. to increase rates for all
classes of service by 25 cents per 1,000 cu. ft.
V. Ill, p. 799.
Important Gas Decision.—See V. Ill, p. 995.
Dividends.—Initial div.—2%—paid Dec. 31 1909.
In 1910, 214%.
In
1911 and 1912, 8%.
In 1913, 6%.
In 1914. June, 4%; Dec., 4%.
Practically all of stock is owned by the Public Service Corp. and dividends
Rate Increase.—On
longer reported.
OPERATIONS, &C.—Sold 14,900,704 M cu. ft. of gas during 1919;
1919 had 3,126 miles of mains and 538,574 meters in service.
OFFICERS.—Same as for Public Service Electric Co. except that H.
are no
Whitcomb
is the
V. Ill, p. 799,
V.-P. & Gen.
Mgr.—V. 109, p. 1993; V. 110, p.
on
_
D.
567;
995.
Qas Company.
ORGANIZATION.—Incorporated In Nov. 1898 in New Jersey and on
1898 assumed the lease of Newark Consol. Gas Co. to United Gas
Improvement Co. for 999 years from Dec. 1 1898.
Essex & Hudson Gas
Oo. was leased to Pub. Service Corp. for 900 years from June 1 1903 and
lease assigned Oct. 1 1909 to Public Service Gas Oo.
Under lease, div. rate
&
Essex
Hudson
Dec. 1
now
8% per annum.
Stock auth. and outstanding, $6,500,000.
South Jersey Gas,
V. 67, p.
under one con¬
interests in Southern New Jersey.
($600,000) of the Camden Gloucester
Sc Woodbury Ry., which has been leased to Public Service Ry. Co.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock$6,000,000 ($100)
J-D
$6,000,000
See text
1st
mtge
$15,000,000 gold? 1903
5 g M-S
12,892.000 Mch 11953
($1,000)
c*ntf lint, at Fidelity Tr. Co., Newark,N.J..Trust.
Trenton G&E11st M $2,000.-/ 1899
5 g M-S
2,000.000 Mch 1 1949
000 gold ($1,000)
—tflint, at Equitable Trust Co., N. Y., Trustee.
Burlington Gas Lt Co 1st Mf 1901
5 g M-N
100.000 May 11921
$100,000
ntf lint, at Burl. City L. & T. Co., Burl., Trust.
Bonds.—Of the new $15,000,000 Issue. $2,108,000 are reserved to retire
prior liens.
No sinking fund and bonds cannot be called.—V. 76, p. 332.
1144, 1250; V. 78, p. 1449; V. 86, p. 1530; V. 95, p. 1685; V- 105, p. 1314.
New Brunswick Light, Heat Sc Power Co.
ORGANIZATION.—Incorporated Aug. 31 1900 to bring
trol the gas, electric light and trolley
Also owns the entire capital stock
Consolidated Gas Company.
ORGANIZATION.—Incorporated Nov. 30 1898 in New Jersey.
Con¬
solidation of Newark Gas Co., Montclair Gas & Water Co., Summit Gas
Light Co., People's Gas Co. of Irvington and Clinton Gas Co.
Owns entire
capital stock of Orange Gas Light Co. and practically all the stock of The
East Newark Gas Light Co.
Leased all its property to United Gas Im-
,
ORGANIZATION.—Incorporated in New Jersey on Dec. 7 1899. Owns
the stock of The Gas Light Co. of New Brunswick, except directors
Int. on bonds is paid by Public Service Gas Co. through lease of
The Gas Light Co. of New Brunswick.
See latter company below.
all
shares.
was
provides for pay¬
>4% July 1 1900
in 1910; since, 5% per an.
Outstanding.
Maturity.
$6,000,000
See text.
mtgej 1898
5 g J-D
6,000.000 Dec 1 1948
$10,000,000g ($1,000)c*ntflInt. at Fidelity Trust Co., Newark, trustee.
Newark Gas IstM $4,000,000/ 1895
6 Q-J
3,999.700 April 1 1944
($100, $500 & $l,000)_c*tf|lnt. at Fidelity Trust Co., Newark.
Bonds.—Of the $10,000,000 Newark Cons. Gas bonds, $4,000,000 are re¬
served to retire underlying Hens.
The
Newark
East
from
1909
Service Gas Co.
ORGANIZATION.—Incorporated In New Jersey.
Stock $60,000 ($25);
all out; no bonds.
All of the stock (except directors' shares) is owned by
Essex & Hudson Gas Co. and Newark Consolidated Gas Co.
Operates
In Harrison, Kearney, Arlington, North Arlington and East Newark,
to Public
900 years
Gas Co.
dividend rate is now 8% per annum.
ORGANIZATION.—Incorporated In New Jersey
a consolidation of the various gas plants In Jersey
Under lease,
in October 1899, and
City and Hoboken.
Outstanding.
Maturity.
Interest.
Date.
STOCK AND BONDS—
$10,500,000 ($100)^
$10,500,000
mortgage $10,500,000/ 1899
5 g M-N
10,500,000 Nov 11949
gold
ntf\N. J. Title Gu. & Tr. Co., Jersey City, trust.
PLANT.—Controls all gas plants In Jersey City, Hoboken and Bayonne.
—V. 78. p. 770: V. 84, p. 1555; V. 107, p. 407.
Stock
First
Ridgewood Qas Company.
ORGANIZATION.—Incorporated April 24 1900.
Is leased to Public
for 999 yeans from July 11910 at rental of $2,000 per ann.
Service Gas Co
STOCK AND BONDS—
Stock
Maturity.
$100,000
..
100,000 June 1 1925
Outstanding.
Interest.
Date.
$100,000
First mortgage
$100,000
ntf? 1900
5 J-D
Tr. Co.. N. Y., trustee.
lint, at Equitable
Second mtge
$100,000—ntf/
lint, at Fidelity Trust Co.. Newark, Trustee.
Morristown
Light Co.
Gas
ORGANIZATION.—Incorporated
Leased to Public Service Gas Co. for
in New Jersey on Feb. 19 1855.
999 years from July 1 1910.
Rental
equal to 5% per ann. on outstanding capital stock.
Stock out., $367,500
($100), all owned by Public Service Corporation, except directors' shares.
No bonds.
The Paterson & Passaic Gas & Electric Co.
This company was leased to Public Service Corporation for 900 years
from June 1 1903.
Under lease, div. rate was gradually increased and Is
now
5% per aunum.
In Oct. 1909 gas part of lease assigned to Public
Service Gas Oo. and In July 1910 electric part of lease assigned to Public
Service Electric Co..
|
-'iSGANIZATION.—Inc. Feb. 28 1899.
ous gas
Is
a
Gas
LEASE.—Was
Stock
Cons
$5,000,000 ($100)
mtge
($1,000)
$5,000,000 gold
c*ntf
Interest.
J-D
_
1899
Int. at
_
consolidation of the varl
Outstanding.
$4,999,516
"NJotloTiu] Porilf
4.049.000 Mch
"Mow Vrtflf
Electric 111 1st mtge/ 1895
5 g J-J *
$600,000
ntf I Paterson Safe Dep
Pkssalc Lighting Co cons mtg/ 1895
5 g M-N
585,000 July 1 1925
& Trust Co . trustee
316,000 May 1 1925
5450,OO0
tflGuaranty Trust Co., trustee.
PaBsaic Gas Light 1st mtge/ 1892
6 g J-D
50,000 June 1 1922
$50,000
ntf I Paterson Savings Institution, trustee.
Bonds.—Of the new $5,000,000 mtge. of 1899, $951,000 Is reserved for
underlying liens. The bonds are not subject to call. The Paterson Safe
Deposit & Trust Co. is trustee.—V. 107, p. 403.
Edison
Somerset Union & Middlesex Lighting Co.
ORGANIZATION.—Incorporated In New Jersey on Dec. 1 1903 in the
Service Corporation, as a consolidation of Somerset Light¬
ing Co. of Somerville, N. J.; Plainfield Gas «fc Electric Light Co. of Plain
fidd, N. J., and Citizens' Electric Co. of North Plainfield (V. 78, p. 107)
On Dec. 30 1903 Central Elec. Co. was also merged In the same.
Public
Service Corp. owns $422,400 of the stock, $573,182 Som. Un. Sc Mid. Ltg
Oo. bonds, $21,000 Somerset Ltg. Oo. 1st 5s and $20,200 Cent. El. Co. 5s
Interest of Public
Pub. Serv. Corp. for 900 years from
1903 on the following terms, viz.: All interest, expenses and
paid by Public Service Corporation.and. as rental, a dividend
the stock accruing as follows: From Dec. 1 1905, 1% ;Dec. 1 1906
LEASE.—The co. was leased to
Dec.
31
taxes to be
on
1)4%; Dec. 1 1907,2%; Dec. 1 1908. 2)4%: Dec. 1 1909.3%; Dec. 1 1910.
3)4%; Dec. 1 1911 and thereafter, 4%.
So much of lease as relates to
manufacture and distribution of gas has been assigned to Pub. Serv. Gas Co.;
remainder of lease applying to electric properties has been assigned tc
Public Service Electric Co.
STOCK AND BONDS—
Stock $1,050,000 ($100)
Date.
Interest.
J-D
Outstanding.
$1,050,000
Maturity
See text
Mid Lt Co M/ 1903
4 g J-D
1,974,481 Dec. 1 1948
$2,750,000($1,000)g-C*ntf 1 Int. at Fidelity Tr. Co.. Newark, Trustee.
Underlying bonds assumed—
Plainfield Gas & Elec Lt gen/ 1900
5 A-O
500,000 April 1 194C
mtge $500,000
...tflGuaranty Trust Co., New /ork, Trustee.
Somerset
Lighting Co first/ 1899
5 F-A
150,000 Feb 1 1939
mortgage $150,000
tflFidelity Trust Co.. Newark, Trustee.
Cent Elec con now lstM$750,-/ 1900
5 g J-J
750,000 July 11940
000 ($500 & $1,000) g-c*tf lint, at Fidelity Tr. Co., Newark, Trustee.
Somerset Un &
Electric
Co.
County.
Bergen
of
the Public Service Corp.
2% for first two years,
to
are
for 999 years from
2)4% for the next
3% for the aext two years, 4% for the next four years and 5% there¬
after.
Oct. 1 1909 so much of lease as relates to manufacture and dis¬
tribution of gas was made over to Public Service Cas Oo. and in July 1910
lease of electric properties was assigned to Public Service Electric Co.
Is a consolidation of several
electric-light companies. Public Service Corp. owns $1,655,2 bonds.
May 10 1918 issued $700,000 5% Gen. Mtge. No. 2 bonds.
small gas and
000 of general mortgage No.
On
Maturity$2,000,000
See text.
38.000 Nov 1 1954
gold ($1,000)
tf'Equitable Trust Co., N. Y., trustee.
Gen mtge No. 2 $5,000,000 tf/ 1904
5 M-N
3.271,000 Nov 11954
I Fidelity Trust Co.. Newark, Trustee
Consolidated mortgage SI,-/ 1899
5 g J-D
1,443,000 June 11949
500,000 gold
ntf I Fidelity Trust Co., Newark, trustee.
1939
Englew G « E 1st mtge..ntf. 1899
5 J-J
23,000 Jan
1935
Hack Gas & El gen mtge.ntf- 1895
5 J-J
10,000 July
1934
Hack G L 1st M ($1,000) cntf 1894
5 J-J
24,000 July
Interest.
Date.
STOCK AND BONDS—
Stock $2,000,000 ($100)Gen mtge No. 1
Outstanding.
—
$5,000,000?
5 g M-N
1904
Bonds.—Of the general mortgage .for
$5,000,000. $1,538,000 is reserved
prior liens and $191,000 for additions and improvements.
The
mort., of which the Equitable Trust Co. is trustee was superseded
by the similar mtge. of which Fidelity Tr. Co. is trustee.
V. 106, p. 1130.
to retire
gen.
Shore Lighting Co.
ORGANIZATION.—Incorporated March 21 1911 In New Jersey and is a
consolidation of Shore Elec. Co., Sea Bright Elec. Lt. Co. and Citizens'
Lt. Sc Fuel Co. of South Amboy.
$104,900 of stock owned by P.S. Corp.
properties nave been leased to Pub. Serv. Elec.
properties to Pub. Serv. Gas Co.; the leases are for 900 years
The electric
gas
1911 and provide for payment of interest on
to 5% per annum on the authorized stock.
Date.
STOCK AND BONDS—
Stock $112,000
First mortgage
($100)
$400,000
($500)
Interest.
Bonds.—$341,500 bonds were Issued to take up
In
Outstanding.
Maturity.
$112,000
•
1911
5 g A-O
400.000 April 1 1951
tfllnt. at Fidelity Tr. Co., Newark, N. J..trust.
$341,500 Shore Electric
bonds; are
$46,800 Oit. Lt. Sc Fuel Co.
prln. & int., by Public Service Corp.—V. 92, p. 1640.
Oo. bonds and $58,500 to take up
guar.,
Co. and the
from May 1
bonds and amount equivalent
gold?
Princeton
Maturity
1 1949
First Nat. Bank, Paterson, or First
5 g M-S
8tock authorized
year,
and lighting properties of Paterson and Passaic.
Service Corporation owns $269,700 of the stock.
Date.
Sc
leased
Dividends
1905.
1
Jan.
Public
STOCK AND BONDS—
of New Brunswick.
owned by New Brunswick Lt., Ht. Sc Power
Co. except directors' shares.
Was leased to the Public Service Corp. for
900 years from Jan. 2 1905 (June 1 1906 lease assigned to South Jersey
Gas, Elec. Sc Trac. Co.), rental being payment of Int. on bonds of New
Brunswick Lt.,.Ht. Sc Pow. Co. and divs. on stock of Gas Lt. Co. of City of
New Brunswick, as follows: 2% In each of the years 1905 and 1906, 2)4%
In 1907 and 1908, 3% in 1909 and 1910, 3)4% in 1911. 4% in 1912, 4)4 %
in 1913 and 5% in 1914 and thereafter.
The company is now controlled
by Public Service Gas Co. by reason of assignment of lease of gas properties!
of South Jersey Gas, Electric Sc Traction Co.
85.000 April 1 1925
5 A-0
1905
(a) The Gas Light Co. of the City
ORGANIZATION.—Incorporated on Mar. 18 1851.
ORGANIZATION.—Incorp. May 31 1899.
County Gas Co.
This company was leased to Public Service Corporation for
from June 1 1903.
Oct. 1 1909 lease was assigned to Public Service
is
gold?
and outstanding, $400,000, all
Light Co.
Gas
leased to Public Service Corporation for 999 years
Sept. 1 1909 for annual rental of 6% on stock, and lease assigned Oct. 1
This company was
Hudson
Interest.
Outstanding.
Maturity.
J-J
$400,000
See text.
1899
4 g J-D 15
500.000 Dec 15 1939
($500 and $1,000)—c*ntf lint, at Fidelity Trust Co., Newark, trustee.
Date.
STOCK AND BONDS—
Stock $500,000 ($100)
First
mtge
$500,000
te lease
assigned Pa., for Sc years from Dec.
Savement Co. of Phila., to Essex 999 Hudson Gas Co. 1and byand on same
1898, last-named
Stock $6,000,000 ($100)
Newark Cons Gas cons
was
Sc Traction first mortgage 5a.
Newark
and Increasing
yearly until 5% was reached
STOCK AND BONDS—
Date.
Interest.
Electric Sc Traction Co.
leased to Public Service Corp. for 900 years from
graded rate of dividend, the maximum Of 8% per annum
having been reached in the eighth year), and on Oct. 1 1909 so much of the
lease as relates to the manufacture and distribution of gas was assigned to
the Public Service Gas Co.
Its traction business is leased to the Public
Service Ry. Co. and Its electric business is leased to Public Service Electric
Co.
Public Service Corp. owns $3,507,000 of South Jersey Gas. Electric
This company
June 1 1903 (at a
1002, 1160; V. 107, p. 406.
company to Public Service Gas Co. Oct. 1 1909.
Lease
ment of all fixed charges and divs. on stock commencing
and
improvements; $503 is reserved for Central Electric stock not yet acquired
(the company having previously obtained the remainder of the $750,000
total stock of that company), $775,000 to retire the underlying bonds and
$125 for future additions and improvements.
No sinking fund, and bonds
cannot be called.
Central Electric bonds are subject to call at 110 and int.
V. 78, p. 107; V. 107, p. 84.
gas.
Dec. 31
Issued in exchange for
consolidated and $846,000 for extensions
the stocks of the companies
gas
Is
[Vol. 111.
ELECTRIC RAILWAYS
78
Light.
Heat
1910 Public Service Corp. acquired
Service
Sc
Power Co.
control.
V. 91. p. 399.
Public
Corp. owns $115,850 stock.
ORGANIZATION.—Incorporated In New Jersey on July 31 190.5 as a
consolidation of Princeton Elec. Light Works, Princeton Gas Light Co. an.
Hopewell Elec. Lt., Heat & Pow. Co.
Electric properties have been leased
to Pub. Serv. Elec. Co. and gas properties to Pub. Serv. Gas Co.. the lease"
being for 900 years from May 1 1911, and providing for payment of Interes8
on bonds and amount equivalent to 2%
per ann. on outstanding stockt
Date.
Interest.
Outstanding.
Maturity.
$250,000 ($50)
$122,500
$250,000 gold s f/ 1909
5 g F-A
170,500 Feb 11939
($100, $1,000 or frac)_cHflInt. at Equitable Trust Co., N. Y., trustee.
Bonds.—Bonds are guar., p. Sc I., by Pub. Serv. Corp.
Red. on any
Int. day at 105 and int.
Sinking fund 4% of gross earnings or company be¬
gan In 1910.—V. 91. p. 399.
STOCK AND BONDS—
Stock
1st ref mtge
PUBLIC SERVICE RAILWAY CO.—(See map on pages 80 and 81.)
by Public Service Corporation through ownership of all but
Controlled
'26 shares of stock.
No lease
ORGANIZATION.—Organized Aug. 30 1907 as a consolidation of the
City Hoboken Sc Paterson St. Ry. Co.
and United St. Ry. Co. of Central Jersey. V. 85. p. 406. For basis of ex¬
change of stocks of these companies for stock of new company, see this Sec¬
tion for Sept. 1915. North Jersey St. Ry. in Jan. 1898 absorbed the Newark
k So. Orange. The Jersey City Hobok. & Paterson was a consolidation in
Nov. 1899 of the following: Jersey City Hoboken & Rutherford Elec. Ry.
Co., Palisades RR. Co., Paterson "Central Elec. Ry. Co., Paterson Horse
RR. Co., Paterson Passaic Sc Rutherford Elec. Ry. Co., Saddle River Trac.
Co., White Line Trac. Co., formerly the New Jersey Elec. Ry. Cor In
1901 it absorbed Paterson Ry. Oo. and North Hudson Co. "By. Co.
United Street Ry. Co. of Central Jersey was a consolidation In July 1907 of
Elizabeth Plainfield Sc Central Jersey Ry. Co. (which was chartered in 1900
as a consolidation of Plainfield St. Ry. Co. and other companies) and Eliza¬
beth Sc Rarttan River Street Ry. Co. (which was a consolidation on April 30
1904 of Middlesex Sc Somerset Traction Co. and East Jersey Street Ry. Co.
which latter company, had previously absorbed Raritan Traction Co.,
Perth Amboy RR. Co. and East Jersey Traction Co.)
Newark
Terminal.—On
Dec.
28
1915
stockholders
ratified
the
North Jersey Street Ry. Co., Jersey
merger
(approved by the Board of P.U.Comm.) of the Public Service Ry.
and the Public Service Newark Terminal Ry. under the name of the former
through
an
The
office and
exchange of stock, share for share, effective Jan. 1916.
Terminal Ry. Co. was incorporated in April 1913 to construct an
Oct., 1920.]
ELECTRIC RAILWAYS
terminal building and approaches In
r description of
the heart of the business jection of
79
Bonds.—Of the total issue of Ellz. Plain. & Cent. Jer.
Ry. Co. bonds dated
1900, $100,000 is held to provide for like amount of Plainfield Street Ry. Co.
See V. 71, p. 1310.
Of Ellz. & Rarltan River Street Ry. Co.
bonds.
Co. and Public Service Elec. Co. for
a
rental not less than
sum
a
sufficient
to pay
the taxes, water rates, maintenance and interest and sinking fund
The terminal was opened for street
railway operation on April 30 1916; offices occupied in Jul1 1916.
y
In addition to above. Plublic ,
Service Ry.leases Consolidated Traction Co.,
South Orange A Maplewood Traction Co., Bergen
Turnpike Co., Orange A
Passaic Valley Ry. Co., Camden A Suburban Ry. Co., Camden Gloucester
A Woodbury Ry. Co., New
Jersey A Hudson River Ry. & Ferry Co. and
Riverside Traction Co., which
companies see below.
Also owns all stock
of People's Elevating Co.
Completed In 1912 a terminal station at Sip Ave., Jersey City, connect¬
ing with the Penn. RR. station and also with the tunnel station there.
requirements on the 1st M. bonds.
-
-
-
-
A
terminal station at Hoboken connecting with 7he D. L. A W. RR.
station and also with tunnels terminating there was
completed in May 1919
Sale of Bergen Tumvike.—See Bergen Turnpike Co. below.
License Fee Invalid.—The
Supreme Court of New Jersey Oct. 21 1911
set
aside as invalid an ordinance or the City of Paterson
imposing a license fee
of $25 for every trolley car operated within the
city limits. A similar ordi¬
pased by the Hoboken City Comm. on Aug. 4 1915 and was also
;et aside as invalid by the Supreme Court.
Transfer Decision.—On June 21 1912 Court of Errors and1 Appeals af
firmed the decision of Supreme Court on Dec. 26 1911, which sustained the
order of the Public
Utility Comm. requiring the company to continue the
?e*. mtge. of 1904, $2,000,000 are reserved to5s and prior liens.Ellz. A Serv.
Pub. Rar.
>orp. owns $154,000 Ellz. PI. & Cent. Jers. retire $274,000
River
fers
on
a
transfer.
/
additional for transfers issued on cash fares, and 1 cent for each transfer
issued on a transfer, but auth. the co. to collect a war
surcharge of 1 cent,
effective Aug. 1 1918, on initial transfers.
V. 107, p. 182, 402.
Compare
V. 106, p. 1037, 1345, 1462.
The company was required to submit a plan
for
an equitable zone system
by Jan. 1 1919, and on Dec. 30 1918 this was
accordingly done.
V. 107, p. 2477.
On Aug. 6 1918 another application
charge 7 cents on all lines was made to the New Jersey
P. U. Comm., the company claiming that the
wage award by the War
Labor Board (Y. 107, p. 502) necessitated such an increase.
V. 107, p.
604. 803.
This time the P. U. Comm. granted the petition
upon the
for authority to
recommendation of the War Labor Board.
The 7-cent fare remained in
effect until March 31 1919, when a 6-cent fare was to be
charged, until the
New Jersey P. U. Comm. gave orders to the
contrary.
The war surcharge
on transfers noted above continued to remain in effect.
V. 107, j). 1288.
On Oct. 18 1918 Justice Swayze in the New
Jersey Supreme Court filod an
opinion affirming the Commission's order increasing fares as above.
V. 107,
p. 1580.
On Nov. 25 1918 the decision was sustained by the Court of
Errors and Appeals at Trenton, N. J.
V. 107, p. 2098; V. 108, p. 974.
On May 3 1919 the New Jersey P. U. Comm.,
reversing its decision of
March 26 1919 (V. 108, p. 1391), ordered the 7-cent fare restored.
On
Aug. 1 1919 the New Jersey P. U. Comm. auth. the co. to put into effect
Sept. 14 1919 a zone system, under which the charge was 3 cents for the
Passengers carried in 1919, 396,689.234, ®f which 327,619,606 were rev¬
and 69,069,628 transfers and passes.
In 1918, 451,220,806, of which
353,190.897 (excl.
passengers
paying <or transfers)
were revenue
and
98,029,909 transfers and passe?
OFFICERS.—Same as for PuVJJe Service Elec. Co., except that R. E.
Danforth
co.
on
mile and 2 cents for each additional zone mile; no transfer
privi¬
V. 109, p. 477.
The zone system having proven unprofitable the
Dec. 7 1919 (by order of the P. U. Comm.) went back to the 7-cent
a 1 cent charge for transfers.
V. 109. D. 2172. 2263.
Suits Against Buses.—Se#V. 110, p. 2488.
*
110, p. 971.
Port Newark Extension.—As a result of a compromise with the
Emergency
Fleet Corp., construction of the Port Newark trolley extension from Ham¬
burg Place, Newark, to the shipyards of the Submarine Boat Corp. was
commenced on April 12 1918.
Fares on this extension are 5 cents, it being
considered a separate zone, making a 10-cent fare from the centre of New¬
ark.
V. 106, p. 1689.
The extension was put in operation on Sept. 1 1918.
In Dec. 1917 the N. J. P. U. Comm. auth. the co. to issue
$1 250.000
at par, proceeds to be used for
1920, this had not been issued.
developments, &c.
Up to Oct.
1
Wage Increases.—V. 107, p. 502; V. 109, p. 888; V. 110, p. 1849.
In Aug. 1920, the N. J. P. U. Comm. approved the issuance of
$1,820,000
car trust certfs. series "E"
bearing 7H% hit.
V. Ill, p. 589.
$490,000
Hate.
Outstanding.
Maturity
Stock $50.000,000 ($100)
a$48,750,000
P. S.Newark Term.Ry. 1st
M] 1915
5 g J-D
5,000,000 June I 1955
$5.000.000g ($1.000)..c*tfUnt. at Fidelity Trust Co., Newark, Trustee.
Oar
trust
Car trust
certfs Ser "O"
tf/ 1912
5 M-S
\Peiin. Co. for Ins.
certlficates,8er"D"| 1917
5 M-N
1
Car trust certfs. Ser.
Real
a
estate
100.000
on
L.
A G.
See text
Int. at Philadelphia Trust Co., Phlla..trustee
mortgages,
490,000
trustee.
298.435
STOCK AND BONDS—
?rtn., int. and sinking fund by endorsement, jointly arid severally,
by the
ublic Service Ry. Co. and Public Service Corp. of New Jersey.
Sinking
fund of $30,000 annually began April 15 1920.
Red. as a whole on or
after June 1 1920 at 105 and Int. on six weeks' notice
; also callable for skg.
fund on June 1 each year, beginning in 1920. at
102M IV". 100. p. 2011).
Car
Trust Certificates.—Series "C" certificates' mature $25,000
every
March 1 and Sept. 1.
Series "D" certificates are secured on 150 cars and
mature $44,000 s.-a. May 31 and Nov. 30.
Date.
STREET
RY.
Date.
Interest.
HOBOKEN &
Interest.
PATERSON
ST.
RY.
Outstanding.
Maturity
Jer City Hoooken &
Pater-f 1899
4 g M-N $14,061,000 Nov 1 1949
son
1st
mtge
gold $20,-(Interest at New Jersey Title Guarantee &
000.000 ($1.000)
c'ntf i
Trust Co., Jersey City, Trustee.
Bonds of Constituent Cos
North
Hudson
County Ry| 1888
5 J-J
-2,998,000 July 1 1928
consol (now 1st) mortgagee Int. at First Nat. Bank, Hoboken.
K. A.
$3,000,000
c*ntf l
Stevens and S. B. Dod, trustees.
I
Nor Hud Co Ry impt mtgoj 1894
5 M-N
1,291.000 May 1 1924
$1,292,000 ($1.000)
tf lint, at Fidelity Trust Co., Newark, Trustee.
Weehawken Extension Mort-j 1895
5 F-A
100.000 Feb
1 1945
gage $100,000
ntf
Trust Co., Newark. Trustee.
Paterson Ry Con M (now 1st) J
6 g J-D
1,250,000 June 1 1931
g $1,250,000
($1,000) ctflColumbla Trust Co., N. Y., Trustee.
Paterson Ry 2nd gen mort) 1894
5 A-O
300,000 Oct 1
1944
$300,000 red at any time (Fidelity Tr. Co.. Newark. N. J., Trustee.
($500 and $1,000)
cntf)
'
,
.
,
Bonds.—$5,939,000 J. O.
H. & P. first 4s are reserved for prior liens
P. bonds outstanding. $1,498,000 are owned by Pub. Serv
The 2nd 5s of the North Hudson County Ry. expired May 1 1904.
but were extended until May 1 1924See V. 78. p. 1392.
These bonds
are redeemable at 110 and int. on any int. date.
V. 78, p. 1392.
See also
,V. 97, p. 1664, 1899.
The Weehawken Extension mtge. bonds wore due
Feb. 1 1915 but were extended for 30 years.
V. 100. p. 399.
The Paterson
Ry. 2d gen. M 6% bonds fell due Oct. 1 1914 but were extended for 30 years
at 5%.
V. 98. p. 1993; V. 99, p. 1053.
Red. April 1 1931 and on the first
day of any succeeding Oct. or April by Public Serv. Ry. Co. in manner
provided In mortgage.
Of the J. O. H. A
Corp.
.
SECURITIES
OF
UNITED
ST.
RY.
CO.
OF
CENTRAL
JERSEY.
Bonds of
Constituent Cos.—
Date.
Interest.
Outstanding.
Maturity
& Cent Jer mtgef 1900
5 g J-D
$2,400,000 Dec
1 1950
$2,500,000 ($l,000)g-C*ntf( Interest at Fidelity Trust Co., Newark.
No s f & cannot be called (
Trustee.
Plainfield Street Ry first mtgf 1892
5 J-J
100.000 July
1 1923
($1,000) Call in 1904-C*ntf lint, at Fidelity Trust Co., Newark. Trustee.
Elizabeth & Raritau Rlv St!
1904
5 g M-N
1.500.000 May 1 1954
Ry gen M $3.500.000
tf I Fidelity Trust Co., Newark, Trustee.
Brunswick Trac M g ($1,000)
1896
5 g J-J
500.000 July
I 1926
Cannot be called
c*ntf> Fidelity Trust Co.. N"wark, Trustee.
Middlesex A Somerset Trac gj
1900
5 g J-J
1.000.000 Jan
I 1950
M $1,500,000($1,000) c*ntf iInt. at Fidelity Trust Co.. Newark. Trustee
Ellz
East
^
Plain
Jersey
1st
mtge
000 gold guar p A1
$500.-/ 1904
Interest.
5 g M-N
500,000 May 1 1944
tf (Perth Am boy Tr. Co.. Perth Amboy. Trust.
Outstanding.
J-J 15
.
Maturity,
$15,000,000
7,308,000
5 g J-D
See text.
15.000,000 June 1 1933
ROAD.—Operates about 190 miles of track, including the N.J. Traction
Co., Newark Passenger Ry., J. C. & Bergen RR., Passaic A Newark Elec.
Trac. Co., J. C. Har. A K. RR. and Newark Plank Road, all of whose
stocks
owned.
are
Stock, debts and mileage of the leased and controlled lines:
v
Miles.
New Jersey
Traction Co
Newark Passenger Ry
Rapid Transit Street Ry
Jersey Oifcy A Bergen RR
Jersey City Harrison A Kearney Ry
Newark Plank
Stock.
$500,000
83
6.000.000
504,000
$6,000,000
1.000.000
258.000
12
4IK
10
-
1,000,000
550.000
40,000 shares
—
•
500,000
*100,000
162.000
Road
4 4-5
Passaic A Newark Electric Traction.
10?i
Port Richmond A Bergen Point Ferry..
*
Funded debt.
None
On this $18,000 has been paid In.
(a) Jersey City Sc Bergen Railroad.
ROAD.—Owns from Jersey City to Bergen Point, Ac., total Crack. 41 Hi
Controlled by Consolidated Traction Co., all the stock being de¬
miles.
as part
security foFthe Traction Co* 1st mortgage.
Date.
Interest.
Outstanding.
Maturity.
$1,000,000 f.-p
Stock..
First
mortgage
$1,000,000/
($1,000)
4H J-J
258,000 Jan
1 1923
c*ntflInt.atBkrs.Tr.Oo.,N.Y.,or IstNat.Bk., J.C.
(originally 7s) matured Jan. 1 1903, but were ex¬
-
Bonds.—The bonds
tended
as
4Ha for 20 years from that date.
Newark
(b)
1873
Passenger
Railway.—Electric.
ORGANIZATION.—Incorporated June 16 1890.
On July 29 1893
leased bo New Jersey Traction for 999 years, and so controlled by cne Con¬
solidated Traction Co. of New Jersey, N. J. Traction Co. having been leased
to Cons. Trac. Co. Jan. 2 1894 for 999 years. Charter said to be
perpetual.
LEASE AND RENTAL.—Rental under the lease, $105,000 yearly.
STOCK AND BONDS—
Par.
Interest.
Outstanding.
$6,000,000
6,000,000
1890 $6,000,000 gold_c*tflN. J. Title Guar. A Trust Co.,
The $6,000,000 stock is all deposited as security for the
$100
Traction Co.
Interest
on
The consols
1st cons Mf
first
5 g J-J
Maturity.
Own.byC.Tr
July 1 1930
Trustee.
Consolidated
mortgage.
5s is payable at
consol.
are
Text
1.000
*
Newark Pass Ry
guar.
p.
First National Bank, Jersey City.
A 1. by Consol. Trac. Co. and in Feb. 1895 the
V. 59. p. 969; V. 81, p. 900.
guaranty was stamped on bonds.
ROAD.—Embrace* about 83 miles of track.—V. 81. p. 900.
of the City of Newark.
to
Newark
Passenger Ry. for
Jersey Traction, and so
999 years, and Included with It In lease to New
forms part of Consolidated Traction system.
STOCK, BONDS, ETC.—
Stock
Par.
i
.-
First mtge $500,000
Interest.
Outstanding. Last div.,Ac
11H J-D30
..
$504,000
See text
g..c*iitf|$l .000
5 g A-O
500,000 April 1 1921
Subj. to call at LtO A Int. I Int. at Fidelity Trust Co., Newark, Trustee.
Dividends of 11'4% yearly are guaranteed by the Newark Passenger and
New Jersey Traction companies upon the stock.
(d)
Passaic tx. Newark Electric
Tractioil
Co.
ORGANIZATION.—Incorporated April 30 1895 and acquired all
$1,000,000 stock of Passaic & Newark
Outstanding.
Maturity.
First
1898
4 g M-N $15,000,000
mortgage
$15,000,000
Ma/ 1 1948
gold ($1,000 each)
tf Bankers' Trust Co., New York, Trustee.
Interest at Fidelity Tr. Co., Newark, N. J.
Of r.ne 1st mtge. bonds. $7,230,000 are owned
by Public Service Corp.
SECURITIES OF JERSEY CITY
Date.
annum.
(c) Rapid Transit Street Railway Co.
ORGANIZATION. -June 1 1893 leased
cos.
Bonds.—The P. S. Newark Term. Ry. bonds are unconditionally guar, as to
SECURITIES OF NORTH JERSEY
4% per
at Bankers Tr. Co., N. Y., Trustee.
not only by mortgage, but also by
& Bergen RR., $161,625 stock of
Newark Plank Road Co., $6,000,000 stock Newark Passenger Ry. and $99,100 stock of Jersey City Harrison & Kearney Ry. Co.
-
luci. $18,400 reserved to retire outstanding stock of consolidated
380)
V. 76, p. 382.
are now
paid in ($100)
—1.
Underlying bonds—see below.
First mortgage gold
$15,000,-/ 1893
000 ($1,000)
tf'interest
The gold bonds of 1893 are secured
deposit of $1,000,000 stock of J. O.
See text
A.. Trustee.
616,000
1920
7)4 F-A
/Bankers' Trust Co.,
Mgr.—V. 109, p.. 477. 888, 1462, 1610,
110, p. 971, 1849, 2488; V. Ill, p. 589, 1084.
Stock all
Stock
Date.
Gen.
p.
and again in Feb. 1903.
Dividends under lease
have been Issued.
STOCK AND BONDS—
&
STOCK AND BONDS—
Fare Decision.—See V.
stock
Y.-P.
Incorporated Mar. 15 1893.
On June 1 1898 leased to North Jersey
Street Ry. for 999 years, and lease has now passed to Public Serv.
Ry. Co.
V. 66, p. 1141.
Validity of lease was affirmed In Feb. 1902 (V. 74.
posited
fare with
the
(1) Consolidated Traction Company.
zone
leges.
is
1700, 1892, 2172, 2263; V.
on
first
bonds.
enue
1
Fares.—On July 12 1918 the N. J. P. U. Comm. turned down the co.'s
application for auth. to increase fares from 5 to 7 cents and to charge 2 cents
Ry.
ROAD, Ac.—Owns (Including Public Service Railroad) 539.031 miles
first main track, 300.495 miles 2d main track and turnouts and 58.714 miles
of connections, loops, yard track, Ac.
Total, 898.240 miles of track.
595 open and 1.877 closed cars.
nance was
issue of transfers to all intersecting lines in Newark, but did not
grant trans¬
St.
Dividends.—First div.—2-3%—paid Dec. 31 '08; in '09. Dec., 2%; in '10.
2%; in
11. Dec., 1 M%\ in '12. Dec,, 1H%: in '13. Dec., IH%' in '14,
Dec., 1X %.
Practically entire stock owned by Public 8ervice Corporation
and dividends no longer reported.
tion Co.
owns
Electric
STOCK AND
BONDS.—
Date.
Interest.
Stock$1,000,000 ($100).
1st
the
Consolidated Trac¬
Ry.
all the stock and guarantees the bonds.
M $1,000,(XX) guar p
by Consol Trac of N J
A If
—
1897
Outstanding.
$1,000,000
Maturity.
5 g J-D
550.000 June 1 1937
tf I Int. at N.J. Title Gu.ATr. jersey Clty.Trus.
(2) South Orange & Maplewood Traction Co.
This company was leased on Oct. 1 1903 to North Jersey St.
Ry. Co. (now
merged in Public Service Ry. Co.) in perpetuity, the rental being $2,000
the preferred stock for first year and Increasing $500 yearly until ninth
year, when $6,000 la paid, which amount is to be paid thereafter.
Rental Is
guaranteed by Public Service Corporation of New Jersey.
V. 77. d. 824.
ORGANIZATION.—Consolidation in July
1901 of South Orange A
Maplewood Tr. Co. and South Orange A Maplewood St. Ry. Co.
Stock
nuth. and out., common. $75,000; preferred. $150,000.
No bonds.
ju
(3) Bergen Turnpike Co.
Leased to Public Service Ry. Co. Jan. 1 1908.
ORGANIZATION.—Originally chartered on Oct. 27 1802 with $51,990
capital ($10 shares),
Jersey City Hoboken A Paterson (now merged In the
Public Service Ry. Co.) owned a majority of the stock and guaranteed Its
$1,000,000 5% bonds, dated 1901, due July 1 1951; Interest J-J (tf); prln.
and Int. payable New Jersey Title Guar. A Trust Co., Jersey City, trustee
In Dec. 1915 the turnpike between Hackensack and the Hudson County
line, south of Falrvlew, over which an electric road was constructed In 1902
was turned over to the Bergen County Board of Freeholders for the sum of
$1. the P
S. Corp. giving a bond assuring the payment of the $1,000,000
5% bonds due 1951V. 101. p. 1974.
(4) Orange & Passaic Valley Ry. Co.
Leased for 900 years from Nov. 1 1903 to Public Service Corporation foi
on the trust certificates Issued In exchange for stock.
Lease was
assigned to North Jersey Street Ry. Co. July 23 1907 and now held by
Public Service Ry. Co.
$923,500 of the stock owned by Pub, Serv Corp
ORGANIZATION.—Incorporated In 1898 as successor of Suburban
Traction Co., sold In foreclosure July 6 1898.
interest
BONDS—
Date.
Interest.
nock
1st
mtge
$1.000,000
Outstanding.
$1,000,000
Maturity.
tf/ 1898
5 J-D
833.000 Dec 1 1938
|N. J. Tit. Gu. A Tr. Co. of Jersey City, Trus.
$83,000 of outstanding bonds are owned by Public Service Corporation.
(5)
Camden
& Suburban Railway Co.
on May
1 1904 to Public Service Corporation for 999 years
being (In addition to fixed charges) $30,000 for first year (1905),
$36,000 the second year, $42,000 the third year, $48,000 the fourth year,
•54.000 the fifth year, $72,000 the sixth year. $84,000 the seventh year,
$96,000 the eighth year. $108,000 the ninth year and $120,000 the tenth
year
and thereafter.
Vf 78, p. 2383.
Lease was assigned to Public
Service Railway Co. Sept. 24 1907.
Was leased
-ental
ORGANIZATION.—Formed
in
1896.
Controls
Camden
(vrhich is leased) and West Jersey Traction Co. (stock $60,000).
Horse
RR.
RAILWAYS
ELECTRIC
OCT., 1920.]
[VOL. 111.
ELECTRIC RAILWAYS
7 I
Stanhope
OXFORD
POPULATION
STATE OF MEW JERSEY
(1915 CENSUS) 2,844.34,
MUNICIPALITIES
121.1c
\
S
POPULATION
(1915 CENSUS)
<
146
2,033,027
Electric
190
Total
220
2,196,081
2,294,993
A
V
\
FRANKLIN
£
A,--
I
V
I
a
.m
1
i
BETHLEHEM
->r
/
HOLLAN D
X
I
JTWP
j
f
/
\\
y"~"
TEWKSBURY
j
/' / ./
\
>
i
i
FRANKLINy'
.-Z
..
<[
|
/
£
/
\
/
y
v<?>
■
|
EAST
'
AMWELLS
a'
i
Hog^well
-J
HOPE/WELL
/
-
/
'
^^"*+^*lfrInceto'p
'
1
U
/
/Y/
'
I
BRI^N^WICK
SOUTH
VAwp.
^HAMILTON
\ TWP.
wdenO}.
iWN/
07
J VM._
<K !E
VV
-
V
1
I
11
TWP.
,K.
MILLSTONE
M
1^.1
/
0/
w£k=bwi:
yfWP
IV
.<--'/wp7 ~"Keypor>
TWP.
7
\
,^\
f
/
,-Z
N
^
's
r^*'
v
1 j
i
nAnA
n 1
/
MARLBORO
\
/
TWP.
yr.
fFreehold
vi
/O
.
V.
HOLMDEL
'
U/
FREEHOLD
,
T TWP- H
n /
.1
Farmingdaf^T
lA^D
°<>(i
/
mount laurel
TWP•
t
,v^udu]^
-—fi.
,j
v°
s ' deptford
f
/
VoodburjdCENTEKI
v, DEUWARE
'
"mn twp:
\
twp.
.
/--
•
/
0
W
E
^
Mantua"f1! twp.
V!
]
1
.
\
''glouces-I
ter
'?
twp.
\
VOORHEES
r<
m
TWf
'Twp.
C'\
p-/Aa^E
//cfE1
>i
\
TWP.
MAP OF
twp.
twp:
(x iyirlbprton
Electric
/
lanasquan k
/
twp.
|
\
N
B /U
0
Nj
O
Railway Lines
Controlled by
LAKEWOOD
PEMBERTON
i
.
GLOUCESTER V* I "" h-\ j
C A-M G. E N Y
rwpv
i^y\ /
"
twp.
/ocean
PLUMSTEAD
new hanover
southampton
MEDFORD
■
JACKSON
1
\—
(
twp.
L!V-twp'
z
I
/
j lfm&iir.ayvj):
TWP.
y
/
~t
EVESHAM
TWI
VNEPTUNEn-v
L
\
"
<
xdeptford"
H
vr
/
v
njTWP./
vM
/J'V —'
0
k
MA^PTfiN
LUMBERTON
<0 / EaWiTko
/EATON n
/,
S
H
tA_t 1 antl C==r3
N<roghiimiiE
,Vr5/l'
T
M
/
V'%» /EA8"K
%^w/\i!Ibunt IlQlly
>pH3ra^
(
TV/P.
tmden^
^
f
1
■
/ /'
t^yiv^v
v/
/
/
/
jlOhcelsterV4«a^^i%,^
/
/
/
-
/ATLANTIC)
^
1
XL
t,\Paulsboro
,
\ TWP.
j
r'«»/
/""V
,,
TWP.^A /
N
'-v==
A V'
/ >
r
/
i
\
x
WATAvy-A^;^^.
MADISON
■
A
/
FREEHOLD
iBLPIIIA/
wmrz
Matfawan\j* ™
T\A/D
•
~rzi'rl-t'a'n—b^y~
yx
TWP.
<
r
EE
\
v
MONROE
)
jwASHINGTO^,---
L/!
>
v
i
<
UPPER
FLORENCE^
y,
/
d^ntow fti'
Fieldsborb
e!6h
\
TWP.
jlJ
»
ill
II
E
V
.
^YHightstown
r
<z
I
■-rSAYREVILLE
^
\s f- yvj
,'J^tiesburg
J^nesburg
^ - |
S,
1
-/
\
airboy
TWP.
-J WESTy<VlNDSOR\
■T
^
ltiver/— 6
S
^t^nton
ISJ^AND
south,
/
South
PUBLIC SERVICE
A
B
RJ
C K
CORPORATION
OF NEW JERSEY
I
■'
I
SCALE OF MILES
..-i
0
5
connecting unessw^
\
A,
X.
o
j
rf-vgf*
TWP.
V
>v
7/
G;r"
OF^
IrtrATj
I
v
RICHMOND
BRUNSWICK
j
I
f-i'r-i
BOROUGH
'STATEN
.
j ,//-y
J/--''
'?
i v.Y
TWP.
BrjuiS'wick,
,——Yb
r
n/g
o
V5?^^
//
# glch'^$l
it
»-
l,r,
^HighlandPark
J
PRINCETON
TWP.
I
BRIDGE
/
j
!33E
TWP.
WOOD-
i
New
,
j
1
v.../
^
/
/
/
.
A
"V /.
NORTH
jj
TWP.
j
.
iatfwaV LINDE"N
^
rMeTdclfen
TWP.
y
\
'
\Park
/
MONTGOMERY
J
ARoseile
^'&pden
Nv-'
!
rv
/
EWING
v
r
N M
Ot.,a
vl f«
^PX^-^^^zaLe\li£/
"
F R A N K L I
X
j
J
'
<2?
%
I
Vs
N-
'
-.
^
I
• •.!
—.
•
■
,
WEST
y
Y^Englfei
rileigute
o£ranf
./
XUUtUfne^jt
f
\
fry
>! y
-THE BRONX
V —■
jlu-y^rki
•
j
AMWELL
/
<
Bdgota
v
BouS&k PISCATAWAY
\
TWP.
i
P/^fyntn
r
llaalL^uuck
v
Milburn /
L
/"
HILLSBOROUGH
y
yyx-t^p..
\r/K
Passaic
,
/Tenafly^)
fc
.,NF>eld,--
^^"Vl U
_
Bound
rool
»
!—J
/
V -I' y
NgoroervWe
l"vX.
<
.
N
PlainlielAa /rwiv-7
i
Hlllsboro
^
E
TWP.
\
DELAWARE
/"7
S
WARREN
WARRFN
.
8°uti
SuTrtjnitl^ \
•
mANECK,/'V.
angf
\
—>^newV
f PROVIDENCE^'
<
/"Vest Orange,
\
\
Z
RARITAN
.—S"v
♦
\
^
/ ChatSa"„^ ^
.An
/
/
^J
•ysyo M E\R
.IJP / BRIDGEWATER V
)
H
{ Flemlngtpb)
\ /
[Lodl
>
S/S^E'
^
J
7
>
X
KINGWOOD
SS A I
V
>1. 3 v"
lj
V'
'
/lladlisi
_
.
,"S'
1
/'
,
r
.
«
^
„
J
i
R E A D I N G T O N
_
.
S^
TWP
TWP.
/
y Ft~I> O
T
„
r7 j';.\
J
if
/o.
Montcla\
A
LIVINGSTON
l^P A
J'BERNARD
TWP.
>
Ui N
Prove .
ce^r
,
J
»
/bedminster'
y.
/ *"
H
/
-c
jHackensack
.jBernardsville
\
CLINTON
>
\ morristyownx^
'vCloster
/sr—#
*
TWP.
1C
%
>
•f
r-Caldwell\
x/
/ ALEXANDRIA\
/
'
CALDWELL/singRc.
Little Falis.
TWP.
*
ft
*
v
Jviendham/
Hlg^fridge/
,L
UNION
\
£
I
)
.
^
v
Z'
1
1
y, H A N OVER
s
V
V
TWP.
*
"\
HAbDON'
i
\
2,130,599
163
west
r\
\-^
<v
\ WASHINGTON
lifli^sbur^-
Railway
Gas
"a.
Ramsey l/V
I
>\
y v*">
JWP.
V?\
\
/
...
^
R0CKAWAY
/
HARMONY
SERVED
NUMBER
Butler
Nqtcong/
A\ Jby'R
-r
w
U
MOUNT
/
10
15
ELECTRIC
St
STOCK AND BONDS—
Stock
$3,000,000 ($25)
lit mortgage
($1,000)
-
Date.
Interest.
Outstanding.
8ee text.
Q-F
-
Maturity.
See text
$3,000,000 gold/ 1896
5 J-J
$1,940,000 July 1 1946
ctfflnt.at N.J.Tr.&SafeDep Co.,Camden,Trua.
Stock.—The stock Is all outstanding; 20% paid In.
Bonds.—Of the 1st mtge. bonds. $1.000.000 are reserved to retire stock of
Camden Horse BR. and $60,000 are for extensions.
V. 94, p. 1185.
-
ROAD.—Operates 9L3 miles of track.
Connection through to Trenton
la made over Riverside Traction (now leased by P. 8.
$383; V. 88, p. 1126; V. 89. p. 154; V. 94. p.
V. 78, p. 1781,
By.).
1117, 1185.
(а) Camden Horse Railroad Co.
ORGANIZATION.—Incorp. March 23 1866.
Stock. $250,000
Leased to Camden & Suburban By. from Apr. 1 1896 for 999 years.
($25).
Rental
All
See., received, $60,000 per annum, from which is paid 24% on stock.
bonds have been canceled.
ROAD.—Has 30.11 miles of track.
.
(б) Camden Gloucester 5: Woodbury Railway Co.
Leased to Public Service Ky. Co.
ORGANIZATION.—Entire $600,000 stock Is owned by South Jersey
Gas, Electric <fc Traction Co.
All bonds have been canceled.
ROAD.—Comprises 25 miles of road.
(7) People's Elevating Co.
ORGANIZATION.—Incorporated in New Jersey May 31 1899.
Stock
Is all owned by Public Service Ry. Co.
STOCK AND BONDS—
Date.
Interest.
-
(8) New Jersey Gt Hudson River Ry. & Ferry Co.
Public Service Corporation has acquired $2,446,350 of the $2,500,000
and $4,633 of the $750,000 pref. stock.
V. 91. p. 95.
Is leased
to Public Service Ry. for 900 years from May 1 1911 for Interest on bonds
and 6% on both common and pref. stocks.
aotnmon
as
ORGANIZATION.—Incorporated at Trenton. N. J., on Feb. 25 1910
a consolidation of New Jersey &
Hudson River Ry. A Ferry Co. and
Hudson
River Traction Co.
This
company owns the entire capital stock
and bonds of The Riverside & Fort Lee Ferry Co., owner of the West 130th
St. Ferry.
These securities are all deposited under the $5,000,000 mort¬
gage.
Franchises perpetual except one for 50 years and one for 99 years.
Chiefly private right of way.
Fares.—For suit brought In U. S. Dlst. Court asking that a resolution
Sassed by the Board of Chosendeclared Illegal and void,
Freeholders of Bergen County, N. J., 407
reuclng the fares of this
be
V. 99,
co.
STOCK AND BONDS—
Stock, com, $5,250,000 ($100)
Stock, pref. $750,000 6% cum
N J & II R RY & F Co 1st M.l
$5,000,000
g
see
Date.
Interest.
Dividends.
$2,500,000 See text
-
6 F-A
1900
p.
Outstanding.
750.000
4,011,000
4 g M-S
See text
Mar. 1 1950
($1.000).c*tf/Int. at U. 8. Mtge.&Tr.Co.. N.Y., Trustee.
Hud RivTrac 1st M. $1,000.-1 1902
5 g M-S
631,000 Mar. 1 1950
000 g ($1.000)*
tf/Int. at U.S. Mtge. & Tr. Co.. N.Y., Trustee
Stock.—Pref. stock Is redeemable at 115 and accrued dividends.
$1,500
Fare Increase.—The Mass. P. 3. Comm. in Oct. 1917 authorized the dis¬
(terminal of W. 130th St. ferry, N. Y. City), to Englewood. Hackensack
Paterson; also 17.11 miles of track from Hackensack to Hasbrouck
Heights, Woodrldge. Rutherford to Arlington and a branch Hue from Has¬
brouck Heights to Lodl.
The cars of this company operate to the business
centres of Newark, Passaic and Paterson.—V. 92, p. 462; V. 99,
p. 407.
and
(9) Riverside Traction Co.—Trolley.
Lease.—Company 1s leased for 999 years from April 1 1912 to Public
Service Ry.
The lease provides for Int. on bonds 5% dlvs. on outstanding
pref. stock and a dlv. on com. amounting to $14,193 the first year, in¬
creasing annually until seventh year, when the maximum of $20,169 will
have been reached.
V. 94, p. 699.
ORGANIZATION.—Incorp. in New Jersey June 20 1910
as successor to
Camden & Trenton Ry., sold at foreclosure. Bee plan, V. 88.
p. 1126.
Owns 395 out of 400 shares (par $50) of the capital stock of the Clnnamlnsou Elec. Lt., Pow. & Htg. Co. of Riverton. N. J., which
Interest.
Outstanding.
$747,1-50
Maturity.
Common, $1,100,000 ($50)-.P-eferred, $400,000 ($50)
5%
266.500
First M $1,500,000 g ($100,T 1910
5 g J-D
1.500,000 June 1 1960
S500&$1,000)call at llOtf/Int. at West End Trust Co.. Phlla.. Trustee.
Bonds.—Subject to call, all or any, on any
Interest is guaranteed by Public Service
Ry.
interest day at 110 and int
V. 94. p. 280. 352.
ROAD.—Comprises 32.96 miles of
track between Trenton and Riverton
(where connection is made with Camden & Suburban
Ry. Tracks).
By a
contract between this
companjy and the Camden & Suburban, the Riverside
Traction
cars run direct to
Philadelphia Ferry at Market and Federal streets!
Camden.—V. 93. p. 408; V. 94. p. 280. 352. 699.
(10)
& State Line Traction Co.
Stock all owned by the Public Service
Railway Co.
ORGANIZATION.—Incorp. In New Jersey Nov. 15 1901.
Stock
authorized. $300,000 (Increased in July 1913 from $100,000; V. 97.
p. 522);
outstanding. $150,000.
BONDS.—
Date.
Interest.
1914
Outstanding.
6 J-D
$150,000
Maturity.
June 1 1964
Fidelity Trust Co., Newark, trustee.
PUBLIC
RAILROAD7~
SERVICE
ORGANIZATION.—A consolidation (under agreement dated June 30
1913) of the Elizabeth New Brunswick & Treuton RR. and the Trenton
Terminal RR.
Capital stock authorized. $500,000; outstanding, $285,000
ail owned by Public Service
Corp. of New Jersey except directors' shares
Regular trolley service between Newark and Trenton July 1 1913, and
service between Newark and Perth
Amboy Inaugurated about July 1 1914
Borough was placed in opera¬
V. 97. p. 522.
The branch line to Roosevelt
tion Dec. 8 1915
On Aug. 10 1918 the P. U. Comm. auth. the co. to
Increase Its rate*
between Newark and Trenton from 2 to 2
M cents per mile, with a minimum
charge of 10 cents, except between Chrome Junction and
Chrome, between
which points a 5-cent fare Is to be corftinued.
RR.
(subsequently merged In
for 999 years from April 1 1912.
Rental 5% on
outstanding pref. stock, and. beginning with the year ending April 1 1915.
1% on outstanding com., with additional 1% annually until
4% Is paid.
V. 94. p. 697.
RR. Co.)
ORGANIZATION.—Incorporated In
New Jersey on May 19 1910 as
Trenton & New Brunswick RR. and the New Jersey
Short
Line RR., both sold at foreclosure.
See plan In V. 89, p. 1282, 1349.
successor to the
8TOCK AND BONDS—
Date.
Common $900,000 ($50)
Pref $300,000 5% cum ($50)..
Interest.
Outstanding.
Maturity
A-O
$811,350
•...
A-O
180,300
1912
5 g A-O
990,000 Apr 1 1962
($1,000)
CVtf/lnt. at Logan Trust Co., Philadelphia, Trus
Bonds.—First mtge. bonds are subject to call as a whole on
any lnt
day
First
mtge
$1,200,000
gold 1
110 and Int.
Prln. and int. are guar, under terms of lease
by the
Trenton Terminal RR.. whose obligations are guar. In turn
by the Public-
at
Service RR. and
ROAD.—Owns
closed
cars.
the Public Service Corporation.
49.656
V. 90. p.
miles equivalent single
1362; V. 94. p. 697.
NEW
track;
standard-gauge,
co.
filed with the Mass.
STOCK AND BONDB—
Date.
Interest
Outstanding.
Maturity.
$550,000 Dec.'13.3%
$500,000,/ 1902
5 g J-J
280.000 Jan. 1 1922
gold ($1,000)
c^ntf Inc. at International Tr. Co.. Boston, Trus.
1
No sinking fund and not subject to call.
M W & B B 1st mortgage./ 1901
4 g A-O
150.000 Oct. 1 1921
$150,000 ($1,000) g-_cntfllnt. at Federal Trust Co., Boston, Trustee.
Stock, $550,000 ($100)
First
mortgage,
Bonds.—The Mlddleboro Wareham & Buzzard's Bay bonds have no
sinking fund, but are subject to call before Oct. 1 1921 at 105 and Int.
See V. 73. p. 1313.
Int. was formerly 5%, but on consolidation with New
Bedford & Onset was reduced to 4%.
ROAD.—Owns 44
miles of track between Falrhaven and Onset and
In Mlddleboro and to Buzzard's Bay and to Monument Beach.
27 passen¬
4 snow plows, 5 miscellaneous and 88 electric motors.
EARNINGS.—For years ending Dec. 31:
Cal. Year—
Gross.
Net.
1919
—-8250.723
$59,341
^
Int. A Taxes.
Surplus.
$31,575
$27,766
-
1918223,175
27,993
26,544
1.449
In 1919 carried 1,922,502 revenue passengers against 1,875,718 in 1918.
OFFICERS.—Pres., H. H. Crapo; V.-P. E. S. Wilde; Sec., E. T. Pierce;
Treas., E. F. Nicholson; Supt., Geo. P. Dole.—V. 107. p. 501, 697, 906.
2376; V.
108, p. 379.
UNION
STREET
RAILWAY.—A trolley
road.
ORGANIZATION.—Incorporated In Massachusetts
on March 18 1887
3c Falrhaven St.
Ky.
On Nov. 1 1910 consolidated with Dartmouth & Wostport St. Ry.
V. 91. p. 465. 519, 718. 1096.
In June 1918 was auth. by the Mass. P. S. Comm. to issue $812,500
consolidation of Acushnet St. Ry. and New Bedford
as a
capital stock at par. the proceeds. It Is reported, to be used to pay outstand¬
ing debt and for Improvements, &c., Including the construction of a new
power house. V. 106, p. 2758.
Compare V. 106, p. 1797.
Fares.—In Aug. 1919 filed with the P. 8. Comm. a schedule sub-dividing
three long lines for fare purposes and eliminating certain transfer privileges.
V. 109. p. 677See also V. 110, p. 262.
In Aug. 1920 was auth. by the
Mass. Dept. of P. U. to discontinue the 2-cent transfer charge and to collect
a 5-cent fare to the centre of the city and a 10-cent fare from one side of the
city to the other.
V. Ill, p. 991.
8TOCK AND BONDS—
Interest.
Date.
Stock, $2.437,500 (par $100)
First M $2,000,000
Notes
Outstanding. Last div.Ac.
$2,437,500 Aug'20,2%
Q-F
($1,000)./ 1914
44* g J-J
250.000 Jan.
1 1934
sinking fund__ntf\Int. at Old Colony Trust Co.. Boston. Trust.
no
payable Dec. 31 3 919.
356,500
Bonds.—Redeemable since Jhn.
-
1 1919 at 110.
Issued to retire consol.
1894, due Jan. 1 1914.
V. 97, p. 1584. 1664
Dividends.—In 1896-97,10%; in 1897-98, 6%; in 1899, 8% and same rate
to and incl. Feb. 1919.
In May, 1H%', Aug., lj^%; Nov., 1M%.
in
mtge. of
1920, Feb. 2%;
ROAD
New
River.
A
May, 2%;
Aug., 2%.
&c.—Operates 64.17 miles (of which 5^53 mi'es
Bedford
207
and
adjacent
and
towns,
connects
New
owned)
are
Bedford
In
Fall
and
18 miscellaneous cars and 14 snow plows.
power house at New Bedford, Mass., costing about $650,000, is
new
passenger
cars;
under construction.
EARNINGS.—For years ending Dec. 31:
Cal. Year— Gross
Net.
Int. A Taxes.
1919
1918.
$1,440,858
1,145,113
$317,008
274,296
'
Divs. (*%).
$150,444
Surplus
$195,000 def.$28,436
130,000
13,696
130,600
OFFICERS—Pres., H. H. Crapo; V.-P., E. S. Wilde; Sec., E.T. Pierce;
Treas., E. F. Nicholson; Supt., E. S. Wilde, all of New Bedford.—V. 106,
1127, 1797, 2758; V. 109,
p.
p.
NEW
NEW
YORK
New
The
NEW
York
HAVEN,
HAVEN
Haven
New
been very extensive,
677, 777; V. 110,
&
&
p.
262; V. Ill,
p.
74, 991.
CONN.
HARTFORD
RY.
(Trolley
Hartford's Interests in
but under an agreement reached
lines.)
trolley lines hava
with the
U
S. Govt.
1914 the company has pledged Itself to dispose of the same
In
♦The trolley companies owned by the
N. Y
N. H. & H., which are now to
be disposed of under the decree of the Federal Court, are as follows:
Berkshire Street Ky.
The Vermont Co.
Connecticut Co
Westchester Street RR.
York & Stamford
New
Tne
"all-)
Rv.
RK.
Shore Line Electric
RR. of N. Y.
Jo
'
♦
The Rhode Island Co. was originally included in this list, but the stock
of that co. was sold on Sept. 3 1920 at public auction—see that company
subsequent page.
The N. Y. N. R. & H. also
on
owns $4,984,938 of the $5,005,250 stock of the
Westchester & Boston Ry., an electric road, which it is under no obll
gatlon to dispose of and which will be developed as part of the New Haven
system.—V. 99. p. 270. 604. 1125, 1210; V. 100. p. 642; V. 104. p. 2010.
CONNECTICUT COMPANY.
j
Control Passes to Trustees.—On Oct. 27
1914 the $40,000,000 capital stock
England Navigation Co. was transferred to five
trustees, pursuant to the requirements of the U. S. Dept. of Justice. V
99.
p
1461.
The New Haven Co. has bound Itself to sell the stock, and the
trustees were to use their best endeavor to complete the sale before July
1
1919, but in March
1919 Judge Julius M. Mayer granted an extension
of time until July 1 1921 (V. 108, p. 1275).
The trusteas are: Judge Walter
C. Noyas of New London, Leonard M. Daggett of New Haven,
Charles
Cheney of South Manchester, Morgan B. Brainard of Hartford, and Chas.
G. Sauford of Bridgeport.
See remarks under N. Y. N. H. & H. RR. Co.
above and V. 98, p. 1000, 1245.
This is the company which
operates the trolley lines In Connecticut
controlled by the N. Y. N. H. & H. and which formerly were
comprised in
the Consolidated Railway Co.
of this
held by
co.
New
ORGANIZATION.—Incorp. In Connecticut.
Entire $40,000,000 stock
$1,000,000 debentures owned by New Haven Co.
June
1
1907
began operating the lines comprising the Consolidated Railway (merged
and
1907
the
In
New
York
purchased substantially
N
Y
New
Haven &
On March 1
all
New
Haven
&
Hartford);
the various street
railway
February
28
properties
1910
of
Hartford in Connecticut
1910 all the gas, water and qlectric-llght properties formerly
or leased by N.
Y. N. H.
operated by the Connecticut Co., but owned
&
H.
RU.
Co.,
were
transferred to the Housatonlc Power Co., which
pany Increased its stock
acquisitions.
On Jan. 1
Housatonlc
power
Power
plants)
Naugatuck
in
were
Co.
from $1,000,000 to $3,000,000, to
1912, however, the gas-distribution
and
also
Waterbury,
taken
over
liaes supplying electricity (not the
Britain. Greenwich, Norwalk and
sub-lease for 994 years dated Oct. 1
Water Co.
V. 94, p. 71*; V. 93. p. 1669.
the
New
under
L911 by the United Elec. Lt. &
Lease.—The Connecticut Co.
com
for the
lines of the
pay
a
owns
and had leased to the Shore Line Flec-
Ky..89.92 miles of track In New London, Willimautio, Danlelson aud Put¬
nam.
But this lease was annulled by order of the court in Jan.
1920.
V. 110, p. 167.
The Shore Line Electric Ry. however continued to operate
these lines until April 1920 when the Connecticut Co. took over the
operation
of the lines.
See "Chronicle" of April 24 1920.
Fare Decision.—In Aug. 1917 Judge Gager in the
Superior Court of New
Haven County dissolved an injunction
restraining the company from dis¬
continuing the sale of tickets at six for 25c. or 25 for $1 in Waterbury. Conn..
In Sept. 1917 the co. announced an increase in
trolley fares from 5 to 6
1917, on all lines operated bv the
in Conn.
V. 105, p. 1208; V. 107, p. 2376.
In April 1918 the
Comm. sustained the company's action,
denying the petition of the
city of Hartford for a reduction.
V. 106, p. 1461.
The city appealed, but
he decision of the P. U. Comm. was
upheld by the courts.
On Nov. 2
1 919 was authorized to put into effect a new zone
system.
See V. 109. p.
2262; V. 110, p. 464.
Compare V. 110, p. 1642, 1849.
Effective
company
P.
com
sued $50,000 new stock in exchange the Union St. Ry. Co.
Eany Is owned In the same Interest as for the $150,000 stock of In June 190o
the Tauntoo
Buzzard's Bay St. Ry.. which was a reorganization of the
Mlddleboro
Wareham & Buzzard's Bay St. Ry.
V. 82, p. 1438.
In Dec. 1918 the
V. 107, p. 2376. This increase was suspended for one month by
the P. S. Comm. and became effective Feb. 11 1919.
On Aug. 1 1920 a
10-cent cash fare, wrth 12 tickets for 96c., was put into effect.
cents, or 17 tickets for $1. effective Oct. 1
BEDFORD, MASS.
NEW BEDFORD & ONSET STREET RY.—A trolley road.
ORGANIZATION.—Incorporated In Massachusetts lu 1901.
This
&
923.
1919.
11
lu
(1) Elizabeth & Trenton RR.
Lease.—Leased
to
Trenton
Terminal
Public Service
p,
N.
Paterson
1st mtge $300,000 gold
101.
P. 8. Comm. notice of an increase in fares from 7 to 8 cents effective Jan.
supplies the
Delanco. Riverside, Riverton and Palmyra, with light.
entirectpital stock ($50,000) of the Bordentown Elec. Co., which
supplies light to \ ordentowu and vicinity.
Date.
and the adoption of a straight
Compare V.
V. 107, p. 697, 906.
of the line.
owns
STOCK AND BONDS—
1420.
p
of Beverly.
towns
Also
105,
In Aug. 1918 was auth. by the Mass. P. S. Comm. to increase fares from
6 to 7 cents on the condition that worklngmen's reduced rate tickets be
made universally valid instead of being accepted only on certain portions
gold,
River Traction bonds are subject to call on any Int. date at 110.
$67,000
are owned by N. J. & H. R. Ry. & Ferry Co.
REPORT.—Included In Public Service Ry.
ROAD.—Owns and operates 31.33 miles of track from Edgewater, N. J.
V.
6-cent fare.
pref. stock in treasury.
Bonds.—N. J. & Hud. River Ry. & Ferry Co. bonds can be called on any
Int. day at 105 and Int. upon bIx weeks' notice.
V. 80, p. 998.
Hudson
[VOL. 111.
continuance of the sale of 20 tickets for $1
ger cars.
Outstanding.
Maturity.
Stock, $250,000 ($100)
$250,000
First
mortgage,
$250.000.\ 1899
5 g A-O
175.000 Oct 1
1939
gold ($1,000)
c*tf/Int.atN.J.TitIeGuar.&Tr.Co.,J.C.,Truste.
—
RAILWAYS
L.
1920, the Conn. P. U. Comm. issued
a
Aug. 8
temporary order which provides fof
Oct., 1920.j
the
the
following rates:
zones
7c.
to be 3 miles
for
the first
zone
and
radiating from the traffic
2 miles long in rural districts.
6c.
for
additional
zones:
centres of cities and about
Commutation rates
are
raised from
1 y2c.
to
2Mc. jier mne.
V. Ill, p. 588.
On Oct. 15 1920 a 10-cent cash fare
placed in effect on the New London city lines.
V. Ill, p. 1471.
Jitneys Restricted.—See V. 111.
was
1082, 1277, 1369, 1566.
p.
Government Loan.—In
Sept. 1918 obtained a loan through the United
States Housing Corp. of approximately $1,350,000 to
provide funds for
constructing tracks to provide transportation of munition workers in Bridge¬
port.
V. 107, p. 1099.
This loan was still outstanding Oct. 7 1920.
Supreme Court Decision.—Decision of State Supreme Court holding that
the co. must protect holders of the Consolidated Railway Co.'s debentures
will be found in V. 109, p. 581.
See also V. 109, p. 1527, and V. Ill, p
990, under caption "N. Y. N. H. & H. RR."
The following companies have been aosorpea or are leased or controlled
Branford Lighting & Water Co.
V.
81. p. 155, 210.
Connecticut Railway & Lighting Co.
V. 83. p. 1524.
V.
&
79. p.
Norwich
Street
Middletown Street Ry.
Ry.
New Hav. &
268.
69,
Ry.
Meriden Electric Ry.
Meriden Horse RR.
V. 79, p. 268.
V. 79, p. 268.
Meriden Southington & Compounce
Tramway Co.
V. 83, p. 1524.
*
These roads
under
were
W.
Horse RR.
Haven
1037.
$17,585,000 of debentures have been so exchanged for
N. Y. N. H. &
H. RR. stock.
The following shows the
and V. 83. p.
details for each issue of debentures:
Debentures
of The Consolidated
Railway
Authorised.
Company—All tax free.
Ex. for Stk. or
Issued.
Pur. & Cancel.
$5,000,000
4.000.000
$5,000,000
Apr. 1 *05, 50-yr.. 4g A-O 3,500,000
Jan. 1 '06, 50-yr.. 4g J-J 10,000.000
Mar.l '07.10-yr.. 5% con. 15,000,000
♦3,500.000
♦10.000.000
July 1 '04. 50-yr., 4g J-J
Jan. 2 *05. 50-yr., 4g J-J
Total
b
Feb.
now
1
exchangeable. .$37,500,000
1905. 25-year,
4 g F-A (see text)
1,000,000
4.000.000
5,000,000
5.000 000
$27,500,000 $17,585,000
$9,915,000
28 000
972.000
•Guaranteed, principal and Interest, by N. Y. N. H. & H. RR. a These
cannot be increased, as remainder of issues has been canceled.
Date.
Interest.
Outstanding.
Maturity.
Equipment notes Series "A".. 1915
5 A-O
$41,000
See textEquipment notes Series "B"f 1916 444 g M-S 15
138,000
See text.
gold $460,000 ($1.000)
c\lnt. at Security Tr. Co., Hartford, trustee.
N H <fc Centerv 1st M. g.l 1893
5 g M-S
283,000 Sept. 11933
assum'd byN Y NH&H.ntf/
New Haven Street RR.—
1st
Street
mortgage,
"
Hart
Man
$300,000
&
Rock first mtge
($1,000)
$500.000
1894
1894
gold.ntf
Meriden Horse Railroad con¬
solidated
mortgage
gold
Mer South &
tf
Comp 1st M g
($1,000) c* ntf
callable at 110 since 1903__
Greenwich
Tramway
first
$200,000
5 A-O
5 g J-J
200,000 Oct
415.000 Jan
1
1
1924
1924
Interest at Girard Trust Co. of Philadelphia.
State Treasurer of Connecticut. Trustee.
175,000 July 1 1928
Optional at 110 and interest.
Interest at Trust Co. of America. New York.
1898
5 g J-J
1901
5 g J-J
320.000
July
1
1931
($1,000) Interest at New York Trust Co., New York.
State Treasurer of Connecticut, Trustee.
gold
c*. ntf
5 J-J
400,000 July 1 1956
Stafford Spgs St Ry 1st M g tf
mtge
$400,000
1916
Provisionaldebentures
5%
1,000,000
To
Shore Line Elec. Ry.—
5 g M-N
250,000 May 1 1920
$350,000 ($1,000) gold (can[Interest at American Trust Co., Boston.
not be called)
c*.tfl
Wore & Conn East 1st M s f gl 1902
4)4 S J-J
1,992,000 Jan 1 1943
$3,100,000 ($1,000)
c*tfI Interest at New York Trust Co., Trustee.
Norwich St Ry first mtge.l
1893
5 g A-O
350,000 Oct 2 1923
$350,000 ($1,000) g
,ntf /Interest at American Trust Co., Boston.
.
Al
their face the statement that If a mortgage
if made on any or all of the company's property which was owned on Jan. 1
1905. except to renew existing mortgages, the debentures shall participate
in the security of such mortgage.
The debentures due in 1930 bore 3%
Interest from Feb. 1 1905 for first 5 years and 3)4 % for next 5 years. From
Feb. 1 1915 to maturity bear 4%.
They were issued to pay for acquiring
the Berkshire St. Ry. (V. 80, p. 471). which co. was subsequently acquired
by the New Engl. Inv. & Security Co., then in turn re-acquired by the N. Y.
N. H. & H.
The $3,500,000 debentures due April 1 1955 were issued to ac¬
quire the Hartford Street Ry.
The $10,000,000 debentures of Jan. 1906
were issued to the N. Y. N. H. & Hartford for advances.
The Series "A" equipment notes mature $41,000 s-a April and Oct.
The Series "B" equipment notes are secured by equipment, costing more
than $580,000. the company paying more than $120,000 In cash.
They
mature $46,000 s.-a. Mar. and Sept. 15 from 1917 to 1921.
Tax-free in
Connecticut when held by individuals.
V. 103, p. 1117.
Of the Worcester & Connecticut Eastern bonds, no more wiil be Issued.
A sinking fund on these bonds commenced in 1908 of not to exceed 1% of
bonds outstanding.
Bonds cannot be called, but may be bought on a 3%
basis or better, and kept alive for sink. fd. See V. 75. p. 1204.
$244,000
in sink. f.L. Incl. in amount reported outstanding.
Of the Montville Street Ry. 1st mortgage gold bonds, the balance un¬
issued can only be issued for 66% of actual certified cost of impts. or ad¬
ditions to property.
Original mortgage of the Montville Street Ry.
provided that bonds might be called in 1905 at 105, but through a supple¬
mental mortgage this redemption clause was eliminated, so bonds are not
now subject to call.
Bonds.—The Consolidated Ry. debentures are not subject to call.
the debentures have printed on
EARNINGS.—Of Connecticut Co. for year ending Dec. 31:
Dec. 31
Operating
Net (after
Other
Interest,
Year.
Revenue.
Taxes).
Income.
Rentals.&c.
1919
$11,043,804
$1,213,770
$232,830
$1,338,566
1918
9,935.750
1.209,429
242.111
1,250.565
operates
832.706
Balance,
Surplus.
$108,035
200.975
miles of line (of
which 506.283 miles are owned, 316.156 miles leased and 10.267 miles
operated under trackage rights), serving the following cities and townsCities of New Haven, Hartford, Bridgeport, Waterbury, New Britain,
Meriden,
Middletown,
Stamford,
Norwalk,
Rockville,
Derby,
Shelton.
Ansoria, and the towns of East Haven, Brantford, North Haven,
Walllngtord.
Hamclen,
Orange,
Southington,
Plainville,
Farmington,
Portland. Middlefleld. Cromwell. Rocky Hill, Wethersfield. West Hart
ford.
Bloomfield,
Windsor.
Stafford, East Hartford, East
Windsor.
South
Windsor,
Manchester.
Vernon,
Glastonbury,
Greenwich,
Stratford. Milford, Huntington, Fairfeld, Westport. Norwalk, Darien,
Naugatuck, Watertown, Middlebury, Thomaston, Torrington, Winchester.
Company
stock
p.
ORGANIZATION.—Originally chartered in Connecticut July 2 1895
as
the Gas Supply Co.
Charter amended and name changed March 2 1899 ts
Connecticut Lighting & Power Co.. for the purpose of uniting various streeo
railway and light and power properties in Connecticut.
Name changed as
Jan. 10 1901.
V. 71. p. 1269; V. 72, p. 44.
It is
a
consolida¬
tion of the following companies:
Norwalk & So. Norwalk El. Lt. Co.
Norwalk Street Railway Co.
Bridgeport Traction Co.
Norwalk Tramway Co.
Shelton Street Railway-Co.
Derby Street Railway Co.
Greenwich
Gas
&
Electric
Ltg. Co
Milford Street
Railway Co.
Naugatuck Electric Light Co.
Naugatuck Valley Electric Ry.
Norwalk Gas Light Co.
Common stock
Interest.
Date.
Outstanding
$8,977,200
Maturity
8.142.900
See text.
See
text.
1904)
un-[
(reduced to 4%
($100)
Co
Southingt'n & Plantsv. Tramway Co.
Thomaston&WatertownElec.Ry.Oo.
Waterbury Traction Co.
Westport & Saugatuck Street Ry. Co
($100)
Pref 5% cum after Jan 1
Q-F 15
der lease to New Haven Co'
but inc. to 4)4% in 1917--
1st
ref
&
$15,000,000
gold,
1901
_
4H g
J-J_
12,551.000 Jan
1951
($1,000) sinking fund_c*tf/Int. at Equit
table Trust Co., N. Y., Trustee.
6 g J-J
706.000 July 1 1923
Bridgeport
Traction
mort-|_1893
gage $2,000,000 gold ($1,4Trustee, Fidelity Trust Co., Newark, N. J.
000)..
c*l
Interest at Redmond & Co., New York.
Connecticut Light & Pow_ntf 1899
5 J-J
209,000 Jan 1 1939
„
Bonds—Of the 1st and refunding mortgage bonds, $915,000 reserved to
the prior bonds.
The remainder was reserved for extensions or
retire
betterments, but under lease to the New Haven road cannot be Issued for
without consent of lessee.
V.84, p. 507.
Statement to New
York Stock Exchange In V. 73, p. 852; also V. 79, p. 2745; also V. 85. p. 921.
Bonds were formerly not subject to call, but on June 23 1904 a supple¬
mental mortgage was made giving the right to call bonds on any interest
any purpose
date at 105 and Interest
on
and establishing
a
sinking fund of H of 1% per an¬
bonds outstanding; bonds acquired by the (linking fund are to be
and bear
Interest.
$1,519,000 bonds In
sinking
fund.
Bondholders assenting to the supplemental mortgage had their Interest
guaranteed by the United Gas Improvement Co. by endorsement.
See
V. 79. p. 626, for form of guaranty.
Offer expired Oct. 1 1904 and was
accepted by $10,682,000 of outstanding bonds.
See V. 83. p. 969.
alive
kept
REPORT.—For calendar years;
Int. on
Year—
Rentals A
Bonds.
Ending— v Int. Rec'd.
Dec. 31 1919.S1,437,680
Dec. 31 1918. 1,430,115
$610,545
610.545
j
General
Sink.
Divi-
Exps.
$3,211
4,745
Funds.
$62,755
62,755
dends.
$770,404
770,404
Balance,
Deficit.
$9,235
18,335
ROAD.—Owns 170 982 miles main, 80.427 miles second and 9.093 miles
side trackH; total, 260.502 miles, reaching Milford,
Shelton,
Southport.
Derby,
Seymour,
Ansonia,
Bridgeport, Stratfora,
Westport, Saugatuck,
Norwalk, South Norwalk, New Britain, Darien and Stamford; also lines in
Waterbury,
&c.
System connects with
the Fair
Haven
&
Weetvllle RR. info New Haven from Bridgeport and Derby, and company
also has traffic contract with the Hertford
ford.
Gauge, 4 feet 8H Inches.
Street Ry. for reaching Hart¬
3o to 95-lb. rails.
EQUIPMENT.—Total cars, 474; closed passenger, 199; open passenger,
201; miscellaneous. 74.
Car barns, 20; also 4 cbmplete electric-light plants:
also owns gas plant at Norwalk and operates gas plant at Waterbury.
OFFICERS.—Pres.. R. A. O. Smith; V.-P., Walton Clark. Sec.. G. W.
V.-P. &
Curran;
Lewis Lillle
Office. New Haven
Conn —
921; V. 86, p. 228; V. 106, p. 601; V. 107, p. 401.
Treas..
V. 84, p. 1366; V. 85, p.
(2) West Shore Railway.
ORGANIZATION.—Organized Dec. 15 1893.
Leased on Dec. 14 1896
Ave. RR. for 99 yrs. for int. on bonds and 5% dlv. on stock.
Lease assumed Feb. 28 1910 by the Connecticut Company, wh'ch operates
the property.
to Winchester
1922
Securities of Lines formerly leased to
Montville Street Ry 1st mtgel 1900
ROAD.—Connecticut
V. 84,
Naugatuck,
Ry,
nowf 1900
4 g M-S
2.500.000 Sept. 1 1930
$2.500.0004Conn.
Tr. & Safe Dep. Co., Hartford.
($1,000) g-c»ntfl
Trustee. Int. at New York or Boston.
4 J-J 15
165,000 Jan 1 1930
Hartford St Ry deben "M"ntf 1900
Hartford
assented to this arrangement.
Preferred share¬
4% dividends during the term of the Tease, instead
507.
On Aug. 15 1917 rate was increased to 4)4% per
annum
on
both pref. and com. stocks
Pref. stock was issued in satisaction of unpaid accumulations of dividends on pref. shares to Aug. 1 1906.
5%.
form of $1,000 each and fully registered
debentures of $10,000 each, which are non-interchangeable.
BONDS—
the
holders agreed to accept
num
1,000,000
amounts
& Not exchangeable for stock.
The debentures are in coupon
All
shares.
of
Still Out.
$745,000 aS4.255.000
1.691,000
a2,309,000
2.160 000
a 1,340.000
7,989 000
o2.011.000
$38,500,000 $28,500,000 $17,613,000 $10,887,000
TctaJ of all
it reaches $1,452,500 in 1920.
The common shareholders paid the
Trust Co., trustee, $10 per share on their stock, which, with
surplus rental received under the lease, provides a fund which, it is
announced, is sufficient to pay 4% per annum on both com. and pref.
Colonial
STOCK AND BONDS—
leased in 1912 to Shore Line Electric Ry., which see
was annulled by order of the Court in Jan.
Issue—
until
the
Central Ry. & El. Co. of New Brit.
Cheshire Street Railway Co.
1920, and properties were taken over for operation by the Connecticut Co.
in April 1920.
The N. Y. N. H. & H. RR. offered to exchange $100 of Its stock for $200
of certain issues of the Consoi. Ry. Co.'s debentures.
See V. 82. p. 803.
$8,792,500
Connecticut Railway & Lighting Co.
(1)
Lease.—Leased for 999 years from Aug. 1 1906 to the Consolidated Ry.
Co., which latter has since been merged in the N. Y. N. H. & H. RR. Co.
Rental amounted to $975,000 for the year 1906-07 and Increases gradually
at present on
This lease
Norwich.
Haven.—V. 110, p. 1849, 2192, 2657; V. Ill, p. 294, 492, 588,
1082,1277,1369,1471,1566.
Stafford Springs Street Ry.
Stamford Street Ry.
Torring. & Win. St. Ry. V.85.p.l463.
Wailingford Tramway Co.
Waterbury & Pomperaug Val. St.Ry.
West Shore Ry. Co. V. 78. p. 989.
♦Willimantic Trac. Co. V.81.p.ll76.
Winchester Ave. RR. V. 78, p. 989.
p.
V. 80, p. 118.
Hart.Man.&Rockv.T.Co. V.82,p.280.
Hartford & Middletown Street Ry.
Street
OFFICERS.—Pres., Lucius S. Storrs: V.-P. & Gen. Mgr., J. K. Punderford; Sec.. Victor S. Curtis; Treas., E. T. Chapman; Compt., 1. A. May. all
♦New London St. Ry. V. 79, p. 268.
♦Norwich Street Ry. V. 79, p. 268.
♦Putnam & Thompson Street Ry.
Greenwich Tram. Co.
Hartford
V. 79, p.268.
•Montville Street Ry. V. 79, p. 268.
Haven St. Ry. V. 79, p. 989.
New Haven & Centrevllle Street Ry.
V. 78. p. 989.
Hartford & Glastonbury St. Ry.
Fair Hav. & Westv.RR. V.78.P-989.
Street Ry.
V.
283: V. 89, p. 593. 1542.
Falls, Seymour, Cheshire, Newlngton and Berlin, Connecticut.
gauge.
Cars operated Dec. 31 1919, 1,493 passenger and 336
reight, &c., cars; total, 1,829.
'
New
E.
Farmington
Beacon
Standard
of New
Rate Increase.—In Oct. 1918 was auth. by the Mass. P. S. Comm. to
increase freight rates.
Y. 107, p. 1384.
On Sept. 29 1920 the co. was
auth. to increase freight rates 40%.
V. Ill, p. 1471.
Danielson
83
ELECTRIC RAILWAYS
STOCK AND BONDS—
Date.
Stock. $200,000 ($25)
THE
RHODE
Interest.
Outstanding.
Maturity.
$80,000 See text
Standard gauge.—V. 107, p. 503.
-
ROAD.—Owns 7.42 miles of track.
ISLAND CO.
Receivership.—On Jan. 30 1919 Judge Tanner In the Superior Court at
R. I., appointed Frank H. Swan, of Providence, temporary
receiver for the company on petition of John J. Orr, a contractor.
V. 108,
Providence,
p.
481.
On March 5 1919 Frank H. Swan, Theodore F. Green and Zenas
permanent receivers.
V. 108. p. 974.
Company's condition as set forth in the receiver¬
ship petition, see V. 108, p. 684.
See also V. 110, p. 78.
Reorganization Plans—Successor Co. Incorp., Ac.—In March 1920 three
separate plans of reorganization were drawn up and submitted for approval.
Lack of space prevents us from giving these plans in detail, but an extended
outline of each will be found as follows: (1) Plan of the Rhode Island Co.
receivers in V. 110, p. 971.
(2) Plan of the protective committees for the
bonds of the United Traction & Elec. Co. and the bonds of the Suburban
Bliss were appointed
w.
For statement showing
Ry. in V. 110, p. 1188.
[This plan was agreed upon in April 1920 by repre¬
sentatives of the bondholders with but one revision, for which see V. 110,
p.
1527.]
(3) Plan of the United Traction & Electric Co. and the Rhode
Island Suburban Ry. receivers in V. 110. p. 1290.
Terminated.—On May 14 1919 Judge Tanner entered a forma!
decree in the Superior Court at Providence by the terms of which the re¬
ceivers paid
$50,000 on account of the rental due from the
Rhode
Island Co. (upward of $330,000 was owed for rentals), and the lease,
dated June 24 1902 from the Union RR., the Pawtucket Street Ry. and the
Rhode Island Suburban Ry., respectively, to the Rhode Island Co., were
declared to have terminated on April 21 1919 for the default of the Rhode
Island Co.
V. 108, p. 2123.
Pending settlement of various details by
the Master in Chancery the receivers of the co. are operating the lines,
Leases
paying the lessors at the rate of 3 cents per car mile per month.
V. 108,
p. 2330.
See also V. 110, p 1089.
/
Trustees' Sale.—On Nov. 7 1914, the securities of The Rhode Island Co.,
the Providence and Danielson Ry. and the Seaview RR. (see V. 99, p. 1452),
formerly held by the N. Y., N. H. & H. RR. Co. and carrying complete
control of the system, were transferred to five trustees as required by the
U. S. Department of Justice.—V. 99, p. 1452.
On Sept. 3 1920; these
trustees, by authority of the U. S. Dist. Court, sold at public auction the
above mentioned securities.
The 96,855 shares of Rhode Island Co. stock
were sold to
Harry Parsons Cross, an attorney acting in behalf of some
other interests, for $2,200.
The 7,000 shares of stock of the Sea View RR.
were also bid in for $20, by Mr. Cross but after the sale the stock was trans¬
ferred to Nathaniel Terry Bacon of Peace Dale, Pres. of the iNarragansett
Pier RR., who also bought the $600,000 gold bonds of the Sea View for
,
$1,400.
The Providence & Danielson Ry. was purchased by
Duff F. Sherman for
$100,000 at private sale.
Under agreement with the receivers of the
Rhode Island Co. the road was operated by the receivers until Oct. 2,
deficits incurred "iiring the
Oct. 2 1920.
the ultimate disposi¬
tion of the properties involved, but it is stated that the properties sold are
subject to liens, which are in some instances problematical and must be
adjudicated by the court.
V. Ill, p. 1084.
the
purchaser having guaranteed to pay any
operation.
Operation of this line was suspended on
No official announcements have been given out as to
ELECTRIC
84
ORGANIZATION.—Created in 1902 by Special Act of the Rhode Island
Leased the Union R. R. Co., the Pawtucket Street Railway
Railway Co. but in May 1919 these
leases were terminated.
See above.
The Rhode Island Co. has no bonds.
In June 1907 purchased the Providence & BurrillvilJe Street Ry., the Col¬
umbian Street Ry. and the Woonsocket Street Ry. companies.
V. 84,
Legislature.
Co. and the Rhode Island Suburban
D
1308>
"In June 1911 leased the Providence
but the receivers were auth. on
A Danielson Ry., the Seaview RR.
June 9 1920 to surrender and reject these
on Sept. 7 1920.
V.
The lines were turned back to their owners
leases.
110, p. 2568.
See also under "Trustees' Sale" above.
The Narragansett
Pier RR. (see statement in Railway & Industrial Supplement) was also
leased at that time, but effective March 1 1920, this road was turned back
to its owners for operation.
For compromise agreement on abrogation
of lease see V. 110, p. 1089.
Franchise.—On May 27 1912 entered into an agreement with city of
Providence granting
under
in
regulations
V. 95, p. 619.
as
Fares.—In April
the company a 20-year franchise from July 1 1912
to operations, equipment, &c., principally mentioned
1917 the company accepted the provisions of an Act
Jmssed bv the of the co.'s affairsand signed affording of financial relief. an
nvestigation General Assembly
and the by the Governor calling for If
The special committee appointed to make the investigation
just.
found
1918 (V. 106, p. 1127; see also V. 10.5, p.
2090), recommending, among other things, a modified zone system, with
certain tax, franchise and other reforms.
A special legislative committee
was appointed to examine the commission's report, which it failed to ap¬
prove, recommending instead a 6-cent fare.
The Rhode Island P. U.
Comm.. however, declared that a flat 6-cent fare was unjust and inequitable
and ordered the establishment of a modified zone system which will increase
charges on long runs, the extension of transfer privileges, rerouting of
several lines in Providence. Ac.
V. 106, p. 1127.
The R. I. Legislature
also favored the zone system and in April 1918 authorized the co. to put
it into effect May 5 1918.
In Aug. 19l8 was auth. by the I.-S. C. Comm.
submitted its report in March
adopt zone fares between Providence and Massachusetts points.
V.
p. 803. 906.
In Oct. 1918 filed with the P. U. Comm. a supplementary petition for
auth. to charge 1 cent for each transfer issued, in order to offset the cost of
Increased wages granted the company's employees by the War Labor Board.
V. 107, p. 1482.
Effective Oct. 23 1918, was auth. by the Comm. to charge
5 cents in all zones where 2 cents had formerly been collected, to reduce the
sizes of the zones in nine instances, to charge
1 cent for all transfers
issued.
V. 107,p. 1670.
Seealso V. 109, p. 578.
Effective Sept. 28 1919
was auth. by the P. U. Comm. to charge the following rates: (a) Fares for
two miles, distance heretofore covered for 5 cents, 6 cents; (b) transfers,
2 cents instead of one; (c) These rates are to remain in force during the life
of the receivership of the co. or until otherwise ordered by the Utilities
Board.
V. 109, p. 1274, 1987.
See also V. Ill, 190.
to
107.
Delay in Payment of Rentals of Leased Lines.—See
United Trac. A Elec. Co.
below.
STOCK AND BONDS—
Stock, par $100
Date.
Outstanding.
Interest.
Maturity
1913.6%
1,662.000 Mar. 1 192.
$9,685,500
-
Call-/ 1916
5 g M-S
[Int. at Industrial Trust Co.
Prov., trustee
payable Dec. 31 1919
—
*3.746.037
*$3,746,037 above notes held by N. Y. N. H. A H.
Notes gold ($1,000) c.
able at 101 and int
Loans and bills
of United Traction A Elec
Tax-exempt in Rhode Island
Gold Notes.—Secured by $2,078,300 par value
Co. stock. See
offering in V. 102, p. 2255.
ROAD.—The Rhode Island Company operates 354 miles of line, of which
m. are owned and 314.10 m. are leased.
Serves the cities of Provi¬
dence, Pawtucket. Central Falls. Woonsocket and Cranston
In Rhode
Island and Danielson, Conn., and the towns of Warwick, North Provi
dence. East Providence, Johnston, Smithfield, North 8mithfiold, Burrillville. Cumberland,
Lincoln. Barrington, Coventry, Scltuato, Warren,
Bristol. East Greenwich, Foster, North Kingston, South Kingston and
Narragansett.
The tunnel from North Main St. to Thayer St. was opened
In Aug. 1914.
V. 99. p. 539.
Its equipment consists of 1.045 passenger
cars. 103 freight cars and 173 miscellaneous cars; total, 1,321.
39.90
EARNINGS.—For years ending Dec.
Dec. 31—
$6,970,675
6.311.285
1918
Net (after
Taxes).
Operating
Revenue.
Year end.
1919
$420,527
591,484
31:
Other
Interest,
Balance
Income.
Rentals, &c.
Deficit.
$37,853
$1,491,760'
$1,033,380
111,334
1.480.342
777,523
OFFICERS.—Chairman of the Board, Rathbone Gardner: Pres. & Gen.
Mgr., A. E. Potter.—V. 108, p. 1938, 2123 2330, 2434, 2630; V. 109, p. 371,
477, 578, 1274, 1987; V. 110, p. 78, 262, 563, 659, 765, 872, 971,1089, 1188,
1527, 2193,2568; V. Ill, p. 190, 897, 990, 1084,1473.
(a)
United
Traction
&
Electric.
Receivership.—On June 10 1919 Justice Tanner of the Supreme Court
appointed Cornelius S. Sweetland temporary receiver for the co. on petition
of the Central Union Trust Co., N. Y., trustee of the 1st mtge. bonds.
V. 108, p. 2434.
On June 23 1919 the receivership was made permanent.
V. 108, p. 2630.
Reorganization Plans, &c.—See Rhode Island Co. above.
ORGANIZATION.—United Traction & Electric Company, chartered Id
New Jersey, owns the
Union Railroad Co. of Providence, the Pawtucket
Street Ry. Co. and the Rhode Island Suburban Ry. Co., and thus controls
the entire street railway system of the cities of Providence, Pawtucket and
Central Falls, and the counties of Kent, Bristol and Providence.
The Union Railroad Co. and the Pawtucket Street Railway Co. were
leased for 999 years from June 24 1902 and the Rhode Island Suburban
Railway Co for 999 years from June 30 1904 to The Rhode Island Co.,
but in May 1919 these leases were terminated.
See Rhode Island Co.
above.
For statement as to the relation of this company to the Rhode Island
since the five (now four) trustees have acquired control of the former com¬
pany, see
V. 99, p. 1599.
Rentals.—The rentals due the co. on Sept. 24 1918 from the Rhode Island
Co.
were not
paid when due.
[These, however, evidently have since been
The $149,462 due on Dec. 24 1918 was not met promptly by
$100,000 was paid on Jan. 23 1919, and this co.
granted the lessee an indefinite period of grace in which to make pay¬
ment of the remaining $49,462 due.
The Mar. 1 1919 rentals were not
paid when due. V. 108, p. 975.
The rentals are on account of the Union
Street Ry., Pawtucket Street Ry. and Rhode Island Suburban Ry., all of
which are owned by the co. and were leased to the Rhode Island Cos, but
in May 1919 these leases were terminated.
See Rhode Island Co. above.
Default.—In Mar. 1919 it being announced that the co. would be unable
to pay the Mar. 1 1919 interest on the 1st M. 5s because of the default of
the Rhode Island Co., rentals due Mar. 1 1919 ($50,000 has since been paid
on account), the following committee was formed (V. 108, p. 975):
Committee for 1st M. 5s.—Chairman, Philip L. Spalding; Stephen O.
Metcalf, Henry D. Sharpe, Malcolm Chace, Eben N. Littlefield, Geo. C.
Lee; Sec., Wm. P. Goodwin.
Depositaries, Rhode Island Hospital Trust
Co.. Providence; First National Bank, Boston. V. 108, p. 975,1061, 1166,
1611, 2023.
Committee for United Trac. & Elec. Co. Stock.—H. Martin Brown, Herbert
J. Wells, Frederick S. Peck, Philip Stockton, Webster Knight, Andrew E.
Jencks, Cornelius S. Sweetland, Sec., Providence, R. I.
Depositary:
Industrial Trust Co., Providence, R. I.
V. 108, p. 2124.
paid—Ed.)
the Rhode Island Co.. but
STOCK AND BONDS—
Stock
Date.
Interest.
5 Q-J
Outst'd'g. Div.Mat.,&c
$8,000,000
See text.
United Trac & Elec Co, Prov]
1893
5 g M-S
&
Paw
issue,
1st
(coll) Interest at Central
9.000,000
Mar 11938
Trust Co., N. Y., Trustee
mtge ($1,000), gold._.ntf
Dividends.—Company started paying dividends with 1% In 1897.
In
1898 3% was paid; In 1899, 3M %; in 1900.4%; In 1901.4%; in 1902.4H%
1903 and since. 5% per annum.
f
SECURITIES PLEDGED.—The bonds are secured by the pledge of the
following securities deposited with the Central Trust Co. of N. Y., as trustee
of the bondholders: All of the $9,000,000 capital stock of the Union RR.
of Providence., all of the $500,000 capital stock of the Pawtucket Street Ry.
(no bonds) and all of the $3,000,000 first mortgage bonds of the Union RR;
of Providence.
Also, through the ownership of the Union RR. Co., $299,800 of the $300,000 capital stock, being all but 2 shares, of the Providence
Cable Tramway Co. (no bonds). The Providence Cable Tramway Co
is
leased to the Union RR. Co. for 50 years for 6% on Its capital stock.
TREASURY SECURITIES.—The United Traction A Electric Co. ha»
its treasury the entire capital stock ($5,000,000) of the Rhode Islano
Suburban Ry. Co.—V. 108. p. 1938, 2023, 2124. 2331. 2434, 2630; V. 109,
In
p.
372;
V. 110,
p.
972, 1090, 1189, 1291;
V. Ill,
p.
1473.
[Vol. Ill
RAILWAYS
(b) Rhode Island Suburban Railway.—A trolley road.
Receivership.—On Jan. 10 1920 Judge Turner in the Rhode Island Su¬
perior Court appointed Benjamin A. Jackson and Harold J. Gross tempor¬
ary receivers (made permanent on Feb. 2 1920.—V. 110, p. 971) for the co.
upon a bill of complaint filed by the Union Trust Co., Providence,.trustee
for the 1st mtge. 4% bonds on which the July 1 1919 and subsequent int.
has been defaulted.
V. 110, p. 262, 971.
Reorganization Plans, &c.—See Rhode Island Co. above.
ORGANIZATION.—Chartered June 2 1899 by the Legislature of the
Island with power to construct, purchase, lease or operate
State of Rhode
trolley roads in any part or the State, except Newport County.
By the
terms of its charter It is vested with the power of eminent domain, and the
right to transport passengers, freight, express matter and United States
mail in any territory where It is authorized to do business.
Leased to
Rhode Island Co. June 30 1904, but lease was terminated in May 1919.
See Rhode Island Co. above.
$26,000 of the $69,000 1st M. 6% bonds of
the Cumberland St. Ry. due Oct. 11918 have been exchanged for 1st M. 4%
bonds of the Rhode Island Suburban Ry. due Jan. 1 1950. V. 108, p. 270.
Committee for lsf M. 4s.—Chairman, Michael F. Dooley; Edward B.
Aldrich, Benj. A. Jackson, Geo. L. Shepley, Frederick S. Peck, Geo. C.
Clark, Jr.; Sec., C. H. W. Manderville, Providence, R. I., and Francis E.
Bates.
Depositaries: National Exchange Bank, Providence, R. I. and
Bankers Trust Co., N. Y. City.
V. 108, p. 1061.
This committee has con¬
sented to serve in a like capacity for the bondholders of the Pawtuxet
Valley Elec. St. Ry. and the Cumberland St. Ry., subsidiaries of the co.
V. 108, p.
1611, 2124.
STOCK AND BONDS—
Interest.
Date.
Stock, $5.000,000
First mortgage ($1,000), guarf
1900
Outstanding.
Maturity.
$5,000,000
4,708,000 Jan. 11950
4 g J-J
and int, $5.000.000,(Union Trust Co., Providence, Trustee.
_c* (Interest at office of the Ry. Co., Providence.
The United Traction A Electric Co. owns the entire capital stock and
guarantees the bonds, principal and interest.
prin
gold
Bonds.—There
up
are
reserved In the hands of the trustee $292,000 to" take
and retire $247,200 5% gold first mortgage bonds of the Pawtuxet Valley
Electric Street Ry. Co. and $43,000 Cumberland St.
former are guaranteed, principal and interest, by the
Electric
Ry. 1st M. 6s; the
United Traction &
Co.
a mortgage on all
the company, and by pledge
Cumberland Street Ry. Co.,
3,985 shares or the Pawtuxet Valley Electric Street Ry. Co. and 5,000
•hares of the Barrington Warren A Bristol Street Ry. Co.
SECURITIES PLEDGED.—The bonds are secured by
the property owned or hereafter acquired by
of tne following securities: 700 shares of the
ROAD .—Consists of 65.24 miles of line.
PROVIDENCE
&
DANIELSON
V. 110, p. 262, 971,1189,1291.
RAILWAY
CO.—A trolley road.
but
Was leased to the Rhode Island Co. for 999 years from June 30 1911
lease
was
surrendered and the property turned back to its owners on Sept.
V. 110. p. 2568.
7 1920.
On Sept. 3 1920 the securities of this co. held by the N. Y. N. H. A H.
RR. were disposed of by the Federal trustees under a decree of the U. S.
Dist. Court, at private sale for $100,000.
The purchaser, Duff F. Sherman
into agreement whereby the receivers of the Rhode Island Co.
operated the road until Oct. 2 1920 (V. Ill, p. 1084) on which date the line
was shut down (V.
Ill, p. 1473).
See trustee's sale under Rhode Island
Co. on preceding page.
Settlement with City.—See V. Ill, p. 897, 1473.
entered
8TOCK AND BONDS—
Interest.
Date.
Stock $1,000,000 ($100)
Outstanding.
$1,000,000
Maturity.
1st M $600,000 gold ($1,000)1 1901
5 g M-N
600.000 May 1 1931
No s f and not callable.ntf/Int. at Industrial Tr. Co., Providence. Trus.
ROAD.—Operates from Providence-Johnston line, R. I., to East Klliingly, Conn., and Centredale to Chepachet. R. I.. 35.67 mfles; 00-lb. T
2568- V. Ill, p. 897, 1084, 1473.
rails- standard gauge.—V. 110, p.
RAILROAD.
the 7,000 shares of stock of this co. held by the N. Y.
were sold at public auction by the Federal trustees under a
decree of the U. S. Dist. Court.
The shares were bid in for $20 by Harry
Parsons Cross but after the sale the stock was transferred to Nathaniel
SEAVIEW
On Sept. 3 1920
N. H. & H. RR.
Perry Bacon, President of the Narragansett Pier RR. who also bid in the
8600,000 1st mtge. 5s of the co. for $1,400.
V. Ill, p. 1084.
See "Trus¬
tees' Sale" under Rhode Lsland Co. on a preceding page.
In Sept. 1920
the entire management of the road was placed in the hands of the Narra¬
gansett Pier RR. as an experiment, but after four weeks operation Mr.
Bacon announced that as the road did not pay for the power it used, It would
be scrapped in the near future unless exemption from taxes could be obtained
from the towns through which the road passes.
V. Ill, p. 1473
Compare
V. Ill, p. 1184.
I
ORGANIZATION.—Incorporated in Rhode Island on July 28 1887.
Was leased to the Rhode Island Co. on June 30 1911 but lease was surren¬
dered and the property turned
p.
back to the owners on Sept 7 1920.
V. 110,
•
2568
STOCK AND BONDS—
Interest.
Date.
Outstanding.
Maturity.
$700,000
Stock
First
mortgage
$1,000,000] 1898
5 J-J
600,000 July 1 1948
gold ($1,000)
>
ntf/Equitable Trust Co., New York, Trustee.
ROAD.—Operates 19.24 miles of road between East Greenwich and
Wakefield; V. 110, p. 2568; V. Ill, p. 897, 1084, 1184, 1473.
BERKSHIRE STREET RAILWAY.
Proposed Sale of Stock —The entire capital stock of the Berkshire St. Ry.
6,500 shares of stock of the Vermont Co. (see below) owned by the
New Haven Co., were to be sold before July 1 1919, provided sale was
authorized by the State of Massachusetts or the Court, but in March 1919
Judge Julius M. Mayer granted an extension of time until July 1 1921.
On Dec. 31 1919 N. Y. N. H. A H. owned all the stock, the entire ($200,000) issue of debentures and $3,359,760 notes.
Receivership Discharged.—On Aug. 29 1919 Judge Lawton in the Mass.
Superior Court appointed C.Q. Richmond (Gen. Mgr.) receiver for the co.
V. 109, p. 886, 981.
On Sept. 9, 1919 Judge Hammond of the Superior
Court ordered the discharge of the receiver.
V. 109, p. 1079.
See also
V. 109, p. 1271.
and
ORGANIZATION.—Incorp. In Mass. on June 20 1901.
Franchise per
In 1906 absorbed the Hoosac Valley St. Ry. through exchange of
In May 1910 took over the Pittafield Elec. St. Ry., issuing $300,000
stock in exchange for stock of that company.
V. 90. p. 1295.
In March 1912 Mass. RR. Commission approved the 99-year lease of the
petual.
stock.
Vermont Co. to the Berkshire Street
Ry.
On Feb. 1 1913 began operation of Hoosick Falls RR. under agreement
with Vermont Co., to which the Hoosick Falls RR. was leased.
.
On Dec. 30 1916 the P. S. Comm. of Mass. ordered the co. to complete Its
Lee-Huntington line.
The entire line, 23.84 miles, was placed in operation
Aug. 16 1917.
Fare Increase.—Effective Nov. 12 1918, a readjustment of the 5-cent
fare zone was made which will increase the co.'s revenue. V. 107, p. 1579.
In Dec. 1918 the P. S. Comm. auth. the reduction of certain zone limits.
V. 107, p. 2374.
Service Discontinued.—On
Nov.
12
1918 passenger service
was
discon¬
tinued on the line from Lee to Huntington and from Great
Barrington to
Egremont and from Great Barrington to Canaan, Conn. V. 107, p. 1579;
V. 108. p. 170.
In Dec. 1918 the towns of Great Barrington, Sheffield and"v
Egremont voted to appropriate money to help the co. operate its lines
between these towns; Great Barrington voting $6,900; Sheffield, $1,100,
and Egremont, $600.
Interest Unpaid.—Int. on the Hoosac Valley ref. 4]4s due Sept. 1 1919
was paid
Sept 23 1919.
Int. due June 1 1920 on the co's. 1st mtge 5s of
1922
was
paid when due.
V. 110,
STOCK AND BONDS—
Stock $5.398.100 ($100)
First mortgage $800,000
($1.000)
Berkshire Street
gold]
p.
2487.
Date.
Interest
1902
5 g J-D
c*_ntfjGirard
Ry deb__tf- 1905
Trust Co.,
5 g M-S
Outstanding.
$5,398,100
Maturity.
800,000 June 1 1922
Philadelphia,
Trustee.
200.000 Mar 1 1925
Hoosac Valley ref mtge
$400,-] 1904
4 g M-S
300,000 Sept 1 1924
000 gold ($1,000)
ntf flnt. at Berkshire L. A Tr. Co., Pittsf., Trus.
Pittsfield Elec St Ry 1st mtge] 1904
4 g J-J
300,000 July 1 1923
g
$300,000 ($l,000)_c*_ntf/Int. at Berkshire L. A Tr. Co., Pittsf., Mass.
July 31 1920
3,387.500
Due N Y N H A H RR
Bonds.—The Berkshire St. Ry. 1st M. are not subj. to call.
Int. payable
and bonds may be registered at office of N. W. Harris A Co., Boston
The Berkshire St. Ry. debs, are guar, by Consolidated Ry. Co.
Oct., 1920.]
ELECTRIC
J5ARNING8.—For
years ending Dec.
Net (after
Dec. 31
Revenue.
3l:
Operating
,„X?ar—
1919-
$883,591 def.$13,906
856,769 def.278,034
1.058.724
46.739
1918—
1917
.—
;
Other
Interest,
Rentals, &c.
319,480
Balance,
Deficit.
$329,608
561,375
317.908
Income.
Taxes).
234.361
S317.&96
$1,693
36,139
36,808
.
ROAD.—Operates 172.25 m. of line (144-25 owned and 28.00 leased)
serving the cities of Pittsfield and North Adams and the towns of Williamstown, Clarksburg, Adams, Cheshire, Lanesboro, Dalton, Lenox, Hinsdale,
Lee, 8tockbridge. Great Barrington. Egremont and Sheffield. Mass, Pownai, Bennington and 8haftsbury. Vt.» and Hoosick FaUs, N. Y.
142
passenger and 36 other cars.
OFFICERS.—Pres.. Howard Elliott: V.-P., L. S. Stores: Clerk & Mgr..
Richmond: Treas., A. E. Clark; Aud., I. A. May.—V.109, p. 1271,
1460: V. 110, p. 1088, 1848, 2191, 2487; V. Ill, p. 492, 1277.
C. Q.
(1)
M. bonds (tf).
Hoosick
Falls
Railroad.
Incorp. In 1910 to acquire that portion of the former Bennington A North
Adams St. Ry. lying in New York State.
On Feb. 1 1913 was leased to
the Vermont Co. for 99 years but Is being operated by the Berkshire St. Ry.
by agreement.
All the stock is owned by Vermont Co.
Owns 7.55 miles
of line serving towns of Walloomsic, North Hoosick and Hoosick Fails.N.Y.
NEW
YORK
&
STAMFORD RAILWAY
CO.
The New Faven Co. was to sell on or before July 1 1919, pursuant to the
decree of the6!!. 8. Govt., 5,000 shares of the stock and $678,000 bonds, but
in March 1919 Judge Julius M. Mayer granted an extension of time until
July 1 1921.
I'he New
Haven company intends merging this company with the West
Chester Street RR. and the Shore Line Electric RR. and will dispose of
all the securities whenever a reasonable price may be realized.
On June 30 1920 N. Y. N. H. & H. owned entire .capital stock and the
$295,112 notes.
ORGANIZATION.—Chartered in New York on Aug. 3 1901 as a con¬
solidation of Port Chester Street Ry. and Larchmont Horse Ry.
Fare Increase.—A new zone Dlan intended to increase the co.'s earning
power went
85
authorization were issued from time to time for the construction of the
White Plains Branch.
On April 2 1913 the P. S. Comm. granted permission
to issue
$6,044,000 additional 4H% bonds, proceeds to be used for con*
of main line double track from New Rochelle to Port Chester and
completion of White Plains Branch.
V. 96, p. 1089.
Of these bonds,
$744,000 have been Issued for construction of main line and $546,000 for
structlon
for
White Plains Branch.
Fare Increases.—For increased tariff schedule passed b.v the N. Y. P. S.
Comm. and effective Feb. 1 1919, see V. 108, p. 784.
Compare V. 110,
562.
p.
Favorable Fare Decision.—See V. Ill, p. 190.
STOCK AND BONDS—
Date.
Stock $6,000,000 ($100)
First mtge $60,000,000 gold? 1911
Outstanding.
Maturity.
$5,005,250
21,390,000 July 1 1946
Series 1 (see text)
tf J Int. on $ bds. in N, Y.; on £ bds. in London.
DueN YNH&HRR June30 1920
13,141,856
........
—
Stock $500.000
First mtge $450,000 ($1,000)
Interest.
Outstanding.
Maturity.
$500,000 In' 11-12 3 H
-
1901
5 g A-O
426,000 Oct 1 1931
.c«.ntf Int. at New York Trust Co.. N. Y., Trustee.
1908
4%
925,000
Nov 1958
gold
tf. Guar., p. A I., by N. Y. N. H. A Hartford.
1920
Equip, trust notes..
7%
30,000
N Y & Stamford Ry notes
260,612
gold
ref mtge $2,000,000
.
EARNINGS.—For year ending Dec. 31:
Dec. 31
Operating
Net (after
Other
Year—
Revenue.
Taxes).
Income.
1919-.. —.......$434,003
$21,503
$608
1918374.392
17,283
646
-
—
bonds are reserved for construction.
Par, c*'
$1,000. or £200 and £100; r*. $1,000 and multiples.
Bonds of £200 or
multiples convertible into $ coupon bonds at $4 85 per £, with adjustment
of interest at current exchange rates.
Any series or not less than $5,000.000 of one or more series, redeemable on any int. date at 110.
Guaranty
Trust Co.. N. Y.. trustee.
Bonds are unconditionally guar,, p. A 1.. by
endorsement by N. Y. N. H. A Hartford RR.
See V. 93, p. 346.
Bonds
are listed on N. Y. Stock Exchange.
V. 94. p. 768.
EARNINGS.—For year end. Dec. 31:
Cal.
Year—
Operating
Net {after
Revenue.
——
Interest,
Other
Income.
Taxes).
1919——$752,307
1918
578,531
Rentals
-
Rentals,&c.
$97,458 V
96,024
Balance,
Deficit.
$75,347
78,094
OFFICERS.—Pres., L. S. Miller: V.-P., Howard Elliott: Sec. & Treas.,
Clark, and, C. L. Nagle.—V. 109, p. 270; V. 110, p. 1188, 2193.
A. E.
$1,672,930
$1,723,144
def.120,643
3,845
1,612,190
1,728,988
ROAD.—Total miles of road operated, 21.44 miles.
Line commences at
Harlem River Station of the N. Y. N. H. & H. in N. Y., extending to
174th St. Junction, where the N. Y. W. A B. Ry. diverges from the New
Haven and on its own four tracks extending northerly to line of N. Y. City.
then through Mt. Vernon to Columbus Ave. June., at which point the line
diverges into two double-track lines, one extending through Mr. Vernon.
Pelbam and New Rochelle to Larchmont June., 2.16 miles; the other line
extends from Columbus Ave. June, to White Plains, passing through Mt.
Vernon, Eastchester, New Rochelle, Scarsdale and White Plains.
See
also V. 93, p. 346; V. 79, p. 501; V. 97, p. 1824; V. 106, p. 1689.
OFFICERS.—Pres.. Leverett S. Miller, N. Y.: V.-P., Howard Elliott.
—V. 108, p. 784;
V. 109,
p.
776, 888; V. 110,
NEW
562, 2193; V. Ill,
p.
Receivership.—In
STREET RAILROAD.
1920 Supreme Court Justice Morschauser
Miller receiver for the co., pn complaint of the
N. Y., which is seeking to foreclose the mtge.
Farmers' Loan A Trust Co.,
V.
110, p. 972.
LIQHT CO.
In
July 1911 American Cities Company (see below) acquired control
plan under caption of Amer. Cities Ry. A Lt. in V. 92. p. 1373, 1434.
Receivership.—On Jan. 9 1919 Judge Foster in the U. S. District Court
appointed J. D. O'Keefe receiver for the co. upon application by the
American Cities Co., holder of a defaulted debt of $16,929. V. 108, p. 269.
On Jan. 13 1919 D. B. H. Chaffe was appointed Special Master in Chancery
by the U. S. District Court.
1
for the Ref. A Gen. Mtge. 5s, filed foreclosure proceedings against the co.
in the U. 8. Dist, Court at New Orleans for the collection of the Int. due
May 1 1919.
V. 108, p. 2241.
ORGANIZATION.—Incorporated in Louisiana on June 12 1905 as a re¬
organization of the New Orleans Rys. Co. per plan in V. 80, p. 651.
Old
common stockholders paid an assessment or $10 per share and received $10
new preferred and $35 new common; old
preferred paid $20 assessment
and received $20 in new preferred and $100 in new common.
Comprises
all the street railway, gas, elecfic lighting and power business (with the
exception of that furnished by the Consumers' El. Lt. A Pow. Co., to which
the co. also furnishes power under a favorable contract) of New Orleans.
Stock and bonds were listed on N. Y. Stock Exchange in June 1906a
June 1909.
V. 82. p. 1497; V. 88. p. 1621.
*
On Dec. 31 1919 owned the following stocks.
We show also the total
amounts outstanding of each Issue:
.
Amount
See also V. Ill, p. 590.
Issued.
STOCKS—
N. O.
$2,500,000
City RR. Co., preferred
"
"
common
N. O. A Careollton RR. Lt. A P. Co..
July 1 1919, but In March 1919 Judge Julius M. Mayer granted an extensiion
of time until July 1 1921.
The New Haven Co. intends to merge this company with the N. Y. A
8tamford Ry. and Shore Line Elec. RR. and to dispose of all the securities.
St. Charles Street RR. Co—..—
Orleans RR. Co
ORGANIZATION.—Incorporated in New York on Dec. 1 1909 as suc¬
to the Tarrytown White Plains A Mamaroneck Ry. sold at fore¬
closure (V. 89. p. 1282) in three sections, two of which form the road of thii
company.
V. 89, p. 1484.
On July 1 1913 commenced operation of line
of Shore Line Electric RR. Co. under lease. - 1.466 miles in village of
Mamaroneck.
Standard gauge; 70-lb. and 125-lb. rails.
In Aug. 1920
was auth. by the Court to apply for permission to abandon this line.
V.
Ill, p. 590.
See also Shore Line Electric RR. below.
STOCK AND BONDS—Stock
First
$700.000
$2,000,000
($1,000)
Outstanding.
Maturiiv
All owned by the N. Y. N. H. A H. RR. Co
goldl
mtge
5 g M-S
$168,000 Sept 1 1944
at Farmers' L. A Tr Co., N. Y„ Trus
1914
c*/lnt.
-
Interest.
Date.
Bonds.—Subject to call at 102 from Sept. 1 1915 on 60 days' notice.
Remaining $1,614,000 issuable only to reimburse the company for cost of
future additions, improvements, Ac.
EARNINGS.—For year ending Dec. 31:
Dec. 31
Operating
Net (after
Year—
Revenue.
Taxes).
1919
1918-
Other
Interest,
Income.
Rentals,&c.
835,654
$33,187
$298,585
def.$50,T88
$879
def.$58,708
$343
ROAD.—Operates 23,696 miles of line (22.030
m.
owned, 1.466
Balance,
Deficit.
$84,962
$91,552
m.
leased
and .200 m. under trackage rights) serving towns of Tarrytown. ELrmford,
Greenburg, White Plains, Harrison, Scarsdale, Eastchester and Mamaro¬
neck, N. Y.
Has 37 passenger cars and 9 others.
OFFICERS.—Same
as
forN. Y. A Stamford Ry. Co. above.—V.
1921; V. 108, p. 975; V. 110,
p.
SHORE LINE
ELECTRIC
p.
972, 2193; V. Ill,
p.
107,
590, 897.
RR.
Merger, &c.—For reference to
merger with Westchester Street RR. and
Ry. and disposition of securities, see latter co. above.
1920 the co. was ordered to show cause before Supreme Court
Justice Morschauser why it should not be dissolved.
V. Ill, p. 589.
N.
Y.
Ovmed by
N.O.Ry.A
Lt. Co.
preferred
"
"
——
4,600,000
4,600,000
2.498,900
953,300
234,700
349,800
5,250,000
100,000
952,100
234,350
349,300
5,211,300
99.300
.$21,487,800 121,288.750
-
-
4.869.600'
2.500,000
—
common
N.O. Gas Light Co
——
Jefferson A Lake Pontchartrain Ry. Co
Total.-
$2,473,900
5,000,000
The New Orleans City RR. Is leased until Dec. 311955 to the New Orleans
Ry. A Lt. Co. for 5% on the pref. stock and H % until Jan. 1 1908 and 1%
semi-annually thereafter on the common stock.
Proposed Consolidation.—On May 22 1916 the stockholders of the New
Orleans Ry & Lt. Co. and the various controlled cos. voted to consolidate
under the same name and with the same capitalization as the present New
Orleans Ry. A Light Co., but an injunction was secured by certain stock¬
holders of the N. O. City RR. restraining the merger.
On Aug. 1 1917 this
Injunction was dissolved by Judge Foster in the U. S. District Court at
New Orleans,
The Court, however, retained jurisdiction of the suit in
order to pass upon the question as to whether the minority stockholders
have been accorded proper treatment.
V. 105, p. 819.
It is planned to
have the consolidated company own all the physical properties now operated,
and the stock of the New Orleans Gas Light Co., which for legal reasons
cannot become party to
the consolidation.
O. City RK. Co. franchises expire from 1943 to
except one expiring In
1918;
the N. O. & Careollton fran
chlses expire in 1933; the St. Charles St. RR. franchises expire in 1956 and
the Orleans RR. Co. franchises expire in 1951.
Gas franchise is perpetual
and Is exclusive until 1925.
Electric light franchise is perpetual; under
contract with city fixing rates, Ac., entered into Dec. 1915 (V. 101.
p. 2072).
the city has the right to establish a municipal electric light plant after Dec.
1925, but should it elect to do so lt must take over all street installations
Franchises.—The N.
1902,
$242,829
.
"
-
N. O. A Pontchartrain RR. Co...
cessor
applied for authority to abandon certain lines.
"
"
"
.
„
Under the decree of the Federal Court the N. Y. N. H. & H. was to sell
thf» 7.000 shares of stock and $222,000 bonds owned by ft on or befor#
In Aug. 1920 the receiver
See V. Ill, p. 897.
190.
per
March
S.
p.
ORLEANS, LA.
w
appointed Leverett
Deficit.
$7,883
Foreclosure Proceedings .—In May 1919, the Empire Trust Co., as trustee
Interest,
ROAD.—Operates 37.675 miles of line (of which 24.274 miles are owned,
7.563 leased and 5.838 operated under trackage rights), serving cities o'
Stamford, Conn., and New Rochelle, N. Y., and towns of Greenwich.
Conn., and Rye, Port Chester, Harrison and Mamaroneck, N. Y.
78 pass,
and 6 other cars and 3 snow-plows.
WESTCHESTER
Balance.
Ac.
def.$58,097
NEW ORLEANS RAILWAY &
Date.
.
4H J-J
Bonds.—Remaining
into effect July 1 1920.
STOCK AND BONDS—
First A
Interest.
.
•—
Vermont Company.
Lease.—Is leased to the Berkshire St. Ry. for 99 years from Feb. 1 1911.
Owns 20.46 miles of line (serving Bennington and
Pownal). being that part
of the former Bennington A? North Adams St. Ry. lying within the State
or Vermont.
Also owns the stock of the Hoosick Falls Ry.
On June 30
1919 the N. Y. N. H-A H. owned 6,500 shares of stock and $846,000 1st
(a)
RAILWAYS
A Stamford
In Aug.
ORGANIZATION.—Incorp. in New York on Dec. 18 1909 to take over
the section of the Tarrytown White Plains A Mamaroneck Ry. (sold at
foreclosure) between Mamaroneck and Larchmont, a distance of 1.46 miles.
Leased to Westchester Street RR. from July 1 1913.
Stock auth., $300,000.
In Aug. 1913 the New York P. S. Comm. authorized the N. Y. N. H.
& H. RR. to acquire all the capital stock of the company to be authorized
by the Commission.—V. 97, p. 597; V. 107, p. 803; V. Ill, p. 589.
/
made
tion.
by the co. in the last 5 years at cost, less
V. 102, p. 1987.
5% per ann. for deprecia¬
On Oct. 27 1916 renewed contract with City of New Orleans for
lighting
for 10 years from completion of system provided therein.
Extension of Notes.—In June 1918 holders of the $4,000,000 6% deben¬
tures due June 1 1918 were requested to exchange same on a $ for $ basis
for new 1-year 7% notes due June 1 1919, but callable at 100 and int. on
30 days' notice.
V. 100, p. 2649.
The June and Dec. 1st 1919 Int. on this
issue had not been paid to April 1 1920.
The principal which also became
due on June 1 1919 was not paid nor were the notes extended but are being
carried as a past due obligation.
V. 109, p. 1462.
The War Finance Corp.
agreed to loan the co. $1,000,000 to reimburse the treasury for necessary
capital expenditures paid for out of earnings conditioned upon the extension
of the $4,000,000 debentures due June 1 1918.
V. 107, p. 82.
The int.
on this loan is paid regularly.
The principal was due on June 1 1919, but
the War Finance Corp. expressed its willingness not to press payment of
same at that time.
As of April 1 1920, the total of the debt had been re¬
duced to $585,000 and the receiver was auth. to pay $25,000 monthly to
the War Finance Corp. so that this amount could be wiped out quickly.
V. 110, p. 765.
Interest Payments.—The
NEW
YORK
WESTCHESTER
&
BOSTON
On June 30 1920 the N. Y. N. H. A H. owned
ORGANIZATION,—Incorp. June 8 1915
RY.—An electric road.
$4,984,938 stock.
as a consolidation of the West
Chester Northern RR. and the old N. Y. W. A B. Ry.
(See this Section
for Sept. 1915.)
The franchise to operate in N. Y. City was signed by
Mayor McCiellan on Aug. 2 1904.
V. 79, p. 628.
Lines from 180th 8t..
New York; to New Rochelle and from Mount Vernon to White Plains put in
operation on May 29 and July 1 1912, respectively, and from Harlem River
to 180th St., New York, on Aug. 3 1912.
V. 94, p. 1508, 162/; V. 96
p. 48. 298.
1
On July 26 1911 Pub. Serv. Comm., 2d DIst., auth. $20,100,000 1st M.
bonds (total auth. issue, $60,000,000), of which $17,200,000 were Issued
forthwith.
V. 93. p. 236.
The remaining $2,900,000 bonds under this
bonds
was
July 11919 coupon on the co's gen. mtge. 4K %
paid in Sept. 1919 with int. for 3 mos. and the Jan. 1 1920
coupon together with int. for 3 mos. in Mar. 1920.
The receiver having
announced that advantage would have to be taken of the period of grace
allowed for the payment of the July 1 1920 int. on the gen. mtge. 4H%»
the bondholders committee named below offered to advance the payment
due upon such'bonds as had been
deposited with it,
V. Ill, p. 189.
This
paid by the receiver, however, on Sept. 28 1920.
V. Ill, p.
The int. on all underlying companies' bonds is being paid
promptly on date due.
Past due int. on the ref. A gen. lien 5s had not been
paid to April 6 1920.
•
.
The following committee of bondholders has been formed and has called
for deposits.
The bonds included in the committee's call for deposits are as
follows: New Orl. Ry. A Lt. Co. gen. M- 4j^s, St. Charles St. RR. 1st M. 4s,
Edison Elec. Co. 1st M. 5s, New Orl, A Carrollton RR. 1st M. 5s, New Orl.
int.
was
1370,
1566.
,,
,
.
[Vol. 111.
ELECTRIC RAILWAYS
86
City A Lake RR. cons. 5s, New Orl. City RR. gen. M. 5s, New Orl. Power
House Co., Ltd., 1st M. 5s, Merchants El. Lt. A Pow. 1st M. 5s, and Canal
M. 6s. V. 108, p. 269. The coupons on the above issues
excepting the N. O. Ry. A Lt. gen. mtge. 4Hs (see above) were (up to April
1 1920) being paid promptly on date due.
BondholdersCommittee.-—Chairman, R. S. Hecht; Vice-Chairman, Craw¬
ford H. Ellis, J. P. Henican, Geo. W. Dodge, Arthur M. Huger, Mortimer
N. Buckner, Albert Breton and P. H. Saunders.
Depositaries: Hibernia
Bank & Trust Co., Interstate Trust A Banking Co. and Comml. Trust &
Savings Bank, all of New Orleans, and the New York Trust Co., N. Y.
V. 108. P.m. 269. 379; V. m, p. 189.
'
In addition the following committees have been formed:
Committee for Ref. & Qen. Lien 5s.—Chairman, Geo. K. Reilly: John S.
Newbold, Arthur V". Morton, Geo. A. Colston, Lynn H. Dinkins; Sec.,
Walter B. Reed, 517 Chestnut St., Phila., Pa.
Depositaries: Penna. Co.
for Insur. on Lives & Granting Annuities, Phila.: Interstate Trust & Bank¬
ing Co., New Orleans, and the Mercantile Trust A Deposit Co., N. Y. City.
Companies Controlled.—The following shows
with the amount of stock outstanding in
_
the companies controlled,
each case and the proportion con¬
trolled by the American Cities Company.
A Claiborne RR. 1st
<W/v»
—Common Stock-
—Preferred Stock—
Total Issued. Owned.
New Orleans (La.) Ry. A Lt. Co-S10.000.000
Birm.(Ala.)Ry.,Lt. AP. Co——
3,500,000
Memphis (Tenn.) St. Ry. Co—
2,500.000
Little Rock (Ark.) Ry.AElec.Co750.000
Knorville (Tenn.) Ry. A Lt. CoHouston (Tex.) Ltg.AP. Co-1905
—
Outstanding. Own d.
96%
90%
$20,000,000
3.900,000
88%
79 %
§1%
89%
1.911,700 85%
2,050,000 100%
2,000,000 100%
80%
-—
——
.
'Committee for One-Year 7% Notes.—Chairman, Clarence L. Harper,
Barclay, J. A. Cauldwell, Chas. Counselman, William S. Evans,
John Y. G. Walker, Joseph Wayne Jr.; Sec., T. Homer Atherton, 325
Chestnut St. Phila., Pa.
Depositaries: Fidelity Trust Co., Phila.; Central
Union Trust Co., N. Y. City.
V. 108. p. 579.
Rates.—On Oct. 8 1918 an ordinance was passed by the Commission
F. H.
.
,
providing for a 6-cent fare and a 30% increase in
and electric rates, effective Oct. 10 1918.
Proceeds of these advances
are to be applied to the repayment of a Government loan of $1,000,000 to
the company.
V. 107, p. 1579. Compare V. 107, p. 1482.
On Nov. 25
1918 Judge H. G. Cage of the Civil District Court at New Orleans upheld
the legality of this ordinance.
In Dec. 1918 the Board of Public Utilities
ordered the old rates restored.
The purpose of the Board being to deter¬
mine its own power and authority in the regulation of public service cor¬
porations operating in New Orleans (V. 107, p. 2476). In Jan. 1919 Judge
King in the Civil District Court at New Orleans refused to grant an injunc¬
tion preventing the company from charging the increased rates, and held
that the Act creating the Board was unconstitutional and in May 1919 this
decision was affirmed by the Louisiana Supreme Court.
V. 108, p. 2023.
Fares, &c.—For report of special masters investigating the trolley prob¬
lem, placing a valuation of 841,500,000 cn the railway property and recom¬
mending an 8-cent fare, service-at-cost, &c., see V. Ill, p. 1370 but compare
V. Ill, p. 1472, 1566.
On Oct. 21 1920 the co. began charging an 8-cent
fare, which rate is to continue in effect for 6 mos. under the terms of a new
ordinance.
V. Ill, p. 1661.
•
City's Offer for Qas Plant Rejected.—in Feb. 1920 the New Orleans Gas
Light Co. rejected the city's offer of $5,250,000 for its plant and mains.
V. 110, p. 871Compare V.U10, p. 261 and valuation in V. Ill, p. 74.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common $20,000,000 ($100)
$20,000,000
See text
Pref 6% $10,000,000 (S100)j
5 Q-M
non-cumulative—
10,000.000
See text
N O Ry & Light Co gen mort¬
1905
4H 8 J-J
17,544,000 July 1 1935
gage $30,000,000 gold ($1,- Interest at New York Trust Co., Trustee, or
Council of New Orleans
gas
_
-
-
,
^
-
—
000)
at office of company.
at (
cnn
_9Q9
1909
N O Ry & Lt Go ref and geni
lien mtge $50,000,000
000 & $100) gold
c*tf
One-year notes...
...
N O City gen mtg $3,250,000
gold
($1,000)
-c*tf
New Orleans City A Lake 1st
mtge for $5,000,000
($500 and $1,000)
N
O
5gM-N
6.117,700 Nov
1
1949
(ll,-(Empire Trust Co., N. Y., Trus. Int. at
gold
c*tf
Power-house mortgage
gold $200,000 ($l,000).ctf
[
Guaranty Trust Co., N. Y.
1918
7%
3,525,000
Past due
1898
4-5 g J-J
3,200,000 July 1 1943
Int. payable at office of company.
Fidelity Trust Co., Louisville, Trustee.
1893
5 g J-J
2,393,500 Jan
1 1943
Subject to call for sinking fund at 110.
Columbia Trust Co., Louisville, Trustee.
Interest payable at office of company „
1901
5 g J-J
200,000 July 1 1943
Fidelity Trust Co., Louisville, Trustee.
Interest at office of company.
1899
5 F-A
1.970.000 Feb
1 1933
N O A Car con M $2,000,000
($500 A $1,000)
-ntf Interest at office of company.
Canal A Claib RR cons M g
1896
6 g M-N
749.000 May 1 1946
$800,000 ($500 A $1,000)- Interest at office of eompany.
Edlson Klec of N O 1st M
1899
5 J-J
2,172,000 Jan
2 1929
($1,000) s f $2,500,000 c»tf Int. at American Trust Co., Boston, Trustee.
1899
5 g J-J
300,000 July 1 1929
Merchants* Elec Co 1st mtge
$500,000 gold ($500)—c*tf Int. at Merch. L. & Tr. Co., Chicago, Trus.
St Charles St 1st M $600,000
1902
4 g J-J
375,000 Jan
1 1952
($1,000) gold
cntfl Interest at office of company.
Equip lease obllg's $199,0001 1914
6 A-O
100,000
Oct 1 1924
($500 and $1,000).
—tf/Int. at Fidelity Trust Co., Phila.. trustee.
Receiver's
certifs., ($1,000), 1920
)/
7 M-N
750.Q00
[Int. at Girard National Bank, Phila., Pa.
Bonds.—On the New Orleans A Carrollfcon consolidated bonds $30,000
is payable to a sinking fund.
A sinking fund of $30,000 per
annum Is provided for the redemption of the N. O. City A Lake RR. bonds.
The Merchants' Elec. Co. bonds are sub. to call at 102 and int. at any time.
per annum
$32,361,700
$16,750,000
Total
Detailed statements for alt the above companies will be found under the re¬
spective cities in this publication except the Houston Lighting & Power Co.,
whose return is given below.
6%J
Outstanding.
$16,264,700
Interest.
Date.
STOCK AND BONDS—
Common $25,000.000 ($100)
Pref $35,000,000 ($100)
cum from July 11911——
—
—
J-J
—
Maturity.
----------
See text
20,553,500
'
Red. at 110 and accumulated dividends.
1911
5-6 g J-J
7,500,000 July 1 1919
In New York or New Orleans.
■
1917
6%
3,000,000 July 1 1918
Stock.—Pref. stock listed onN. Y.,New Orleans and Phila. Stock Exch ge
Bonos.—$209,000 coll. trust bonds In addition to amount shown out^r,aid¬
ing are held in treasure.
Remainder reserved for acquisition of a idltlonal property.
Interest rate 5% for first six years and 6% per annum
for 7th and 8th years.
Bonds are red. at par and int. on any Int. date
$2,500,000 were retired by lot at par and int. on July 1 1916.
Majority,
stocks of the controlled companies are deposited as collateral for the bonds.
V. 93, p. 285.
Up to April, 1920, no arrangements for payment or ex¬
tension of the bonds and notes had been made.
No later information.
Dividends.—BernI-ann. div. of 3% paid on pref. stock from Jan. 1913
to and Incl. Jan. 1915.
In July 1915 oply 1J4 9F was paid (V. 100, p. 2083).
1916, 3%.
Jan. 1917, 1)4%; none since.
V. 104. p. 2552.
Coll tr mtge $11,000,000 gold
-
($100 and $1,000)
year deb notes
c»\lnt.
-
Earnings of American Cities Co. System—12 Mos. end. Dec. 31.
COMPANIES.
Interest,
Net
Disc., Ac.
Earnings.
OPERATING
Calendar
Year—
Cross
Expenses,
Earnings.
Taxes, &c.
1919——$22,978,738 $17,843,238
1918
13,532,694
18,111,806
1917
16,670,444
11,145,998
191615,464,361
9,965.083
-
HOLDING
Total
Net
Balance,
Surplus.
$937,159
530.220
1,628,947
1,689,019
$4,198,343
4,048,892
3,895,499
3,810,259
$5,135,500
4,579,112
5,524,446
5,499,278
COMPANY.
Balance,
Pref .Div.
Bond
(after
(3%).
Surplus.
$626,936
def.$575,444
1918511,656
630,000
— def.
428,558
1917—
592,500
—— sur.
302,795
1,191,904
OFFICERS.—Chairman of Board, J. K. Newman; Pres., Francis T.
Homer: Y.-Ps., D. D. Curran and Percy B. Warner; Sec.-Treas., Miss M.
McGrath.—V. 107, p. 500, 1187, 1191, 1918; Y. 108, p. 266, 478, 577.
1273, 2021.
*
Income.
Taxes. Ac.).
$147,676
1919
Interest.
$51,492
201,442
895,295
(a) Houston Lighting & Power Co. (1905).—Controlled by the
an
Americ¬
Cities Co.
ORGANIZATION.—Incorp. In Texas Jan. 8 1906 and took over the
Owns and operates
business of the (old) Houston Lighting A Power Co.
the entire municipal and commercial electric-lighting and power
in Houston, Magnolia Park, Harrisburg, West Houston and all
Franchises in nearly all
cases are
facilities
suburbs.
perpetual.
STOCK AND BONDS—
Interest.
Dato.
Common $2,000,000 ($100)
First
mortgage
$5,000,000/
1911
($1,000) gold
-
—-——
Outstanding.
$2,000,000
Maturity.
—-
5 g A-0
1,903,000 Apr 11931
—c^lWhitney Oent.Tr.AS.Bk.,New Orl..Trustee.
Bonds.—Redeemable at 105 and int. at any int. period on 30 days' notice
callable by lot. Sinking fund of 1 % of bonds outstanding began July 1 1915.
$644,000 in treasury.
EARNINGS.—For
Year—
12
months
Gross.
ending Dec. 31:
Net (aft.Taxes) *Charges
Surplus.
1919
$1,301,612
$302,148
$124,301
$177,847
1918
1,024,866
251,412
103,815
147,597
*
Includes City of Houston participation in profits.—V. 103, p. 1891;
-
V. 107, p. 505.
.
new
york
■
city, n. y.
EIGHTH AVENUE RR.—Underground trolley road.
The St. Charles Street RR. bonds are not subject to call, but a propor¬
tionate amount will be retired yearly by purchase in open market.
Edison
Elec. Co. of N. O. bonds have sinking fund of 1 % per ann. of bonds out.
Road was leased to Mot.
Ry., now N. Y. Rys., for 99 yrs. from Nov. 23 1895 at rental of $215,000
which provided for interest on the scrip and 16% dividends on
stock, besides all taxes.
This lease was term! nated. however, by an order
of Judge Mayer in the U. S. Dist. Court as of Aug. 1 1919. separating the co.
A sinking fund of $15,000 annually, commencing Jan. 11921, is
for the redemption of Canal A Claib. 6% bonds.
from the receivership of the
its stockholders.
Transfers
Of
provided
the
$30,000,000 general mortgage of the New Orleans Railway
A Light Company, $958,000 are pledged under the general A refunding
mortgage 5s, $29,000
are
in
treasury and $11,469,000 are reserved
for * prior
liens.
They are subject to call on
any
interest date
upon 4 weeks' notice at 105 and interest.
See V. 82, p. 1497.
See
description of bonds and property in V. 88, p. 1621.
$30,000,000 of
the ref. A gen. lien mtge. bonds are reserved to retire the Gen. Mtge. 4H%
bonds; remaining bonds may only be Issued for betterments and improve¬
ments at 75% of cost and for acquisitions of additional securities of sub¬
sidiary companies under certain restrictions.
Bonds are red. in whole but
not in part since Nov. 1 1919 on any interest date at 105 and interest on
6 weeks' notice.
Tax refund in Pa.
See V. 89, p. 411; V. 92, p. 1033.
of the $6,117,700 outstanding, $1,448,700 are printed in French and are
payable, p. A 1., in France.
The equipment lease obligations are guar.,
p. A i., by the N. O. Ry. A Lt. Co.
Subject to call at 10234 and divs.
Dividends.—First quar. div. on pref. stock— \M%—paid in Jan. 1906,
and same amount quar. thereafter to and incl. July 1907; Oct. 1907, %%'.
none to Jan. 1911 when 2H% was paid; April, 1
y* %; same rate quar. to and
incl. Oct. 1917.
Jan. 1918 div. omitted (V. 106, p. 86).
On com., first
^..l^paid July 1912; in 1913, Jan., H%; June, 1%: in 1914. Jan.,
April, H%; June, H%; Dec.
1%.
In 1916. Dec., M%.
None since.
In 1915. March, H%; Dec., H%.
N. Y. Railways.
-
-
.
6% 5-year certificates, dated Feb. 1 1914. replacing the same amount of
certificates issued In 1884 and due Feb. 1 1914.
The $750,000 scrip of
1914 originally fell due in Feb. 1919 but has been extended to Feb. 1929.
Par.
Interest.
Outstanding.
Maturity.
$100
Quar.
$1,000,000
See text.
Scrip of 1914——
100
6 F-A
750,000
Feb
1929
Scrip of 1914 replaces same amount of scrip of 1884 which fell due Feb. 1
1914.
Again, in 1919, extended to Feb. 1929.
Red. any int. day.
V. 97,
p. 1503.
EARNINGS.—For first 5 months under separate management (Aug. 1 to
Dec. 31 1919): Total revenue, $538,211; net, after taxes, $71,860.
ROAD.—Tot. track owned and operated, 20.024 miles.—V. 109, p. 172,
270, 1080, 1272.
STOCK AND BONDS—
Stock
—
1NTERBOROUGH RAPID TRANSIT CO.—MANHATTAN
WAY.—-See "Railway and Industrial" Supplement.
RAIL-
NEW YORK & HARLEM RAILROAD.—Underground electric railroad.
April 25 1831.
Owns also
a steam
road
leased to New York Central, its securities, which cover the electric roads as
well as the steam line, being described under the title New York A Harlem
railroads in our "Railway and Industrial" Section.
The electric (formerly horse) lines (18.9 miles of track) were leased to the
Metropolitan St. Ry., now New York Rys., for 999 years from June 111896
but the rental due Dec. 26 1918 having been defaulted. Judge Mayer or¬
dered the New York Rys. Co. to terminate this lease and return the line to
the company effective Jan. 31 1920Y. 110, p. 360. Dividends from rent¬
als of street railway lines discontinued since Oct. 1918 due to non-payment
of rentals in question.
Line operated electrically from March 1898 from
City Hall to 135th Street.
V. 96, p. 1424; V. 106, p. 499; V. 108, p. 79;
V. 109, p. 1273; V. 110, p. 360.
among steam
NEW YORK RAILWAYS CO.—Underground trolley.
The Interborough Consolidated Corp. owns $15,276,500 of the stock.
Receivership.—On March 20 1919 Judge Mayer in the U. S. District
Court
AMERICAN
The co. is now operated by
are neither given nor accepted,
v. 109, p.
1271; V. 109, p. 172.
See also V. 109, p. 270.
Underground electric trac¬
tion system used between 158th St. and Battery Place.
Y. 67 ,p. 178, 956.
On Nov. 28 1913 the P. S. Comm. authorized the issuance of $750,000
ORGANIZATION.—Chartered
REPORT.—For calendar years:
Calendar
Cross
Net (after
Interest,
Balance,
Year—
Reserves.
Earnings.
Taxes, &c.).
&c.
Surplus.
1919
$11,341,329
$3,408,876
$2,099,032
$872,500
$437,344
1918
8,659,533
2,158,993
151,292
2,007,701
^Revenue passengers carred in' 1919. 108.442,188; transfers730,490,993;.
in 1918, 95,006,027; transfers, 26,666.129.
>erate 62.02 miles of single track, 71.53
ROAD.—Companies controlled opt
miles of double track and 17.04 miles of
les of sidings, Ac.; total track, 219.00
miles.
Has 698 cars.
Rails 58 to 107-lb. T and girder.
Gauges, 4ft.
8Hln. and 5 ft. 2)4 hiOwns 3 power stations and 8 sub-stations, with
58,700 k. w. generating capacity.
OFFICERS.—Pres., D. D. Curran; Gen. Mgr., John S. Bleecker; Sec.,
Joseph H. DeGrange; Treas.. H. A. Ferrandou; Aud., A. B. McCoard.—
V. 109, p. 371.477,1273, 1462,1891; V. 110, p. 78,261,765,1871,1415,2193
V. Ill, p. 74. 189, 494, 1370, 1472, 1566. 1661.
*
„
ORGANIZATION.—Chartered Jan. 10 1855.
St.
per annum,
appointed Job E. Hedges temporary receiver for the
company, upon
CITIES COMPANY,—A holding company.
New Jersey on June 19 1911 to
take over the entire stock holdings of the American Cities Ry. A Light Co.
and at least two-thirds of the common and preferred stocks of the New Or¬
leans Ry. A Light Co., per plan in V. 92, p. 1373,1434.
The United Gas A
Elec. Corp. in 1913 purchased a majority of the com. stoek of the American
Cities Co.
For terms, see United Gas A Elec. Corp. under "New York"
and V. 97. v
597. 952, 1202.
application by the American Brake Shoe Co., holder of an overdue claim
for $36,806.
On March 31 1919 the receivership was made permanent.
V.
108,j>. 1391. Compare V. 108, p. 1165. On April 21 1919 Judge Mayer
In the U. S. District Court denied the applications of the Eighth and Ninth
Ave. RR. Cos. for an order directing the receiver to turn back the
properties
to the lessor companies.
Judge Mayer also refused to order the receiver to
Default.—Receiverships having occurred for the New Orleans Ry. A Lt.
Co., the Birmingham Ry., Lt. A Pow. Co. and the Memphis St. Ry. Co.,
the following protective committee for the coll. trust bonds due July 11919
Eighth Ave. RR. from the receivership of the New York Railways Co.
order instructed the receiver and the Eighth Ave. RR. Co. to make an
ORGANIZATION.—Incorporated in
h&s been formed*
Committee
for Coll. Trust 5-6s.—Chairman, J. K. Newman; Lynn H.
Dinkins, Archibald Kains, Lewis H. Parsons, Percy Warner; Sec., H. L.
Falls, 212 Carondelet St., New Orleans, La. Depositaries: Mercantile
Trust A Deposit Co., N. Y.; Guarantee Trust A Safe Deposit Co., Phila.;
Canal-Commercial Trust A Savings Bank, New Orleans.
V. 108, p. 577.
.
Say the 1919, however, Judge Mayer issued a formal order separating the
V. 108, p. 1721. On
uly 15 rentals due the complaining companies.
The
agree¬
ment
that, as long as Commissioner Nixon's two-cent transfer order (see
below) exists, fares shall be the same as if the separation had not been made.
If, however, the order is contested, the Eighth Ave. line is to be considered
absolutely independent and no transfers will be given.
V. 109. p. 270.
This order was modified on Sept. 26 1919, and, effective Oct. 1
1919, all
transfers between the Eighth Ave. RR. and the New York Rys. Co. were
discontinued.—Ed.]
Compare Y. 109,
p.
1079.
On Sept. 11 1919 Judge
Oct., 1920.]
ELECTRIC RAILWAYS
Mayer resolved to return the Ninth Ave. RR. to its owners.
V. 109. p.
1080. Effective Jan. 31 1920, Judge Julius M.
Mayer ordered the Fourth &
Madison Ave. Line, which had been leased to the
company, returned to its
parent company, the New York & Harlem RR.
Y. 110, p. 360.
On Sept. 27 1920 the
co. was in default of the following interest.
We
the earliest coupon in default:
Due April 1 1919.
Due Oct. 1 1919.
♦South Ferry 1st M. 5s.
Christopher A 10th St. 1st M. 4s.
Due July 1 1919.
Due March 1 1920.
New York Rys. 1st R. E. & Ref. M. 4s.
yLex. Ave. & Pav. Fy. RR. 1st M. 5s.
New York Rys. 4% con v.
scrip.'
[Columbus A Ninth Ave. 1st M. 5s.
.
give in each
x
case
Principal of §350,000 also past due.
final
y
determination.
Temporarily in default pending
The co. Is also in default of the
payment of the following and subsequent
rentals (either in the form of dividend rental or fixed
rental):
Due Jan. 1 1919.
Due May 1 1919.
Bleecker St. & Fulton Ferry RR.
42d St. & Grand St. Ferry RR.
Broadway & Seventh Ave. RR.
23d St. Railway Co.
Due April 1 1919.
The co. for a time was in default of
Christopher & 10th St. RR.
rentals due on the Eighth Ave.
RR.,
Sixth Ave. RR.
the Ninth Ave. RR. and the N. Y. A
Harlem RR. but these co.'s have been
dropped
-where
from
the
system
else-
as
noted.
On
Sept. 11 1919 Judge Mayer auth. the receiver to cease operation for
the present of the following lines: (a) Avenue C
line, which runs from the
East 23d St. ferry to the Desbrosses St.
ferry via Avenue A, 17th and 18th
Sts., Avenue O, 3d St.. First Ave., Houston. Prince. Stanton.
Washington,
Greenwich and Watts Sts.; (b) Madison St. line from Grand
St. ferry to
Chambers St. ferry via Madison St., Chambers and Duane
Sts.; (c) Sixth
Ave. ferry line from Sixth Ave. and 3d St. to Desbrosses St.
ferry via Varick,
Carmine and Watts Sts.
All of the lines except the last are owned
by the
company.
The latter is owned by the Sixth Ave. RR., which is leased
by
the company.
V. 109, p. 1080.
These lines ceased to operate on Sept.
20 1919, and a bus system was installed over these routes
by the city.
On June 18 1920, however, an injunction was issued
restraining the
city
parallel the co's lines.
See V. 110
2658 under "Rapid Transit in N. Y. City."
The Delancey St. line was
also abandoned at that time but service was restored on Feb.
1 1920 by
order of the Court
V. 110, p. 562.
See also V. Ill, p. 189.
Maintenance A Depreciation Reserve.—In Oct. 1919 Judge
Mayer, in the
U.S. Dist. Court ordered the receiver to set aside
38% of the gross trans¬
portation revenue as a maintenance and depreciation reserve, following
the report (V. 110, p. 75) of Stone A Webster which stated
that, under
existing conditions it would take 37.4% of the revenue to go as far in the
way of maintenance work as was done with 20% in 1914, the old
figure.
V.
109, p. 1610.
Statement by Judge Mayer.—V. 109, p. 1273.
Report to Court by Stone A Webster.—See V. 110, p. 75.
Compare V.
109, p. 1080.
.
Foreclosure Proceedings.—On June 6 1919 Judge Mayer in the U. S.
Dist.
Court auth. the Farmers' Loan A Trust Co., as trustee, to
bring suit to
and others from operating buses which
p.
.
foreclose the adjustment mtge. of Jan. 1 1912.
V.
V. 108, p. 2433j
See also
Ill, p. 74.
In Sept. 1919 the Guaranty Trust Co. of N. Y., as trustee,
a bill to foreclose the 1st real estate A ref.
mtge.
V. 109, p. 1273.
also V. 110, p. 1643.
In Aug. 1920 Judge Mayer adjourned until
Nov. 9 1920
the> proposed sale under the proceedings
filed
See
brought by the
Guaranty Trust Co.
V. Ill, o. 793On Sept. 17 1920 the receiver was auth. to sell for $2,500,000 the co.'s
barn between 32d & 33d Sts. and Park and Lexington
Aves.; also certain
other property.
This property will be sold at public auction on Nov. 9
.
car
1920 under the 1st real estate A ref. mtge. and proceeds of the sale
deposited with the Guaranty Trust Co., trustee. V. Ill,
SpecraZ Franchises and Real Estate
Committee
Sold
to
Satisfy
are to
be
p. 1084, 1279,
Tax Liens.—V.
109,
for
Adjustment Mortgage Income 5s.—John Candler Cobb,
Chairman; Oscar Cooper, Haley Fiske, Frank L. Hall, Duncan A.
Holmes,
Ernest Stauffen Jr. and Richard H. Swartwout, with B. W. Jones as
Secretary, 16 Wall St.
Depositary: Bankers Trust Co., N. Y.
Agents:
Old Colony Trust Co.. Boston and Comm. Tr. Co., Phila.
V. 108, p. 1061.
Deposits have been called for.
V. 108. p. 1275, 1512, 2023.
Committee for First Real Estate A Ref. M. 4s.—Harry Bronner .Chairman;
William A. Day, Caspar W. Morris, Charles A. Peabody, W. H.
Remick,
Frederick H. Shipman and Harold Stanley, with Geo. L. Burr as
Secretary.
140 Bway., N. Y. City.
Depositary, Guaranty Trust Co., N. Y.
V. 108.
p. 1061.
Deposits were called for and up to Oct. 1919 "a large majority
had been deposited with the committee.
V.
109, p. 1610.
Compare
V. 108, p. 2023; V. 109, p. 1273.
Committee for Lexington Ave. A Pavonia Ferry lsf 5s.—F. J. Fuller, N.
Y.;
A. R. Horr, Reginald Foster; Sec., Chas. E.
Sigler, 80 B'way, N. Y. City.
Depositary:
Central Union Trust Co., New York.
V. 110, p. 2658;
V. Ill, p. 294.
Committee for Columbus A Ninth Ave. RR. 1st 5s.—C. Robert
Adams,
Frank Colman, G. E. Warren; Sec., Arthur N. Ilazbltine.
Depositary:
Columbia Trust Co., N. Y.
V. Ill, p. 74.
Tort Creditors'
Committee.—Chairman, Samuel Seabury, John V. Bouvier
Jr., Robt. H. Ernst, Charles Steckler.
V. 108, p. 2241.
Valuation by Stone A Webster.—V. 110, p. 562.
ORGANIZATION.—Incorporated
Dec. 31 1911 took
on Dec. 29 1911, and at midnight on
the lines of the old Metropolitan Street Ry. sold at
1787) on Dec. 29 1911, per plan in V. 93, p. 1533
by Public Service Commission on Jan. 24 1912)
The sale did not include the leases of the Central
over
foreclosure
(V. 93,
(formally approved
See V. 94, p. 977.
p.
Park North A East River RR., 28th A 28tfa Sts., the Second Ave. RR
and
Fulton St. RR.
The latter road was abandoned in 1908 (Y. 90. p. 1 675).
In 1913-14 acquired a half-Interest In the
Bridge Operating Co., which,
under an agreement with the city dated May 21 1904,
operates local cars
over the Williamsburgh Bridge.
With the Third Ave. Ry. and the Brook¬
lyn Rapid Transit Co. controls the Brooklyn & North River RR., operating
.
over Manhattan Bridge.
(This line ceased operating on Oct. 4 1919.)
On July 24 1918 purchased, with the P. S. Commission's
approval, the
property of the Central Crosstown RR. (incl. lease of the old Christopher &
Tenth St. RR.) at foreclosure for $2,114,000.
V. 107, p. 402, 501, 906.
On Nov. 30
1914
the
Public
Service
Comm.
authorized
the
company
87
1915, but G. B. Leighton of Boston, representing the bondholders' com¬
p. 1349, 1918; V. 101. p. 1973).
In Nov. 1915
mittee, Intervened (V. 100.
the
Appellate Dlv. of the Supreme Court, reversing
Application to Issue Additional Bonds.—In June 1912 applied to the Public
Serv. Comm. for permission to Issue $754,000 1st real estate and ref.
4s to
refund
Metropolitan Crosstown 5s.
V. 94, p. 1627.
Still pending.
On Nov. 1 1912 the P. S. Comm. authorized the issuance of
$640,000 real
(permission to Issue $1,050,000 having been asked) to
estate and ref. bonds
purchase
new stepless cars.
V. 95, p. 1207.
None of these bonds Is in¬
cluded in the amount in the table.
Justice Greenbaum in the N. Y. Su¬
preme Court in June 1914 granted a writ of certiorari to review the order
of the P. S. Comm. authorizing
only $640,000 bonds.
V. 98, p. 1994.
Matter is still pending.
Final Distribution to Metropolitan St. Ry. Shareholders.—V.
103, p. 1980.
Payment of Met. St. Ry. Gen. A Coll. Tr. M. Bonds.—V. 106, p. 1344.
For distribution of sum received by this co. from the settlement of the
Metropolitan St. Ry. receivership, see V. 105, p. 2272.
Guaranty Decision.—In May 1917 the U. S. Supreme Court affirmed tne
decision of U. S. District Judge Hough, of New York,
dismissing the action
brought by the bondholders' committee of the old 28th A 29th Streets RR.
(property foreclosed and now known as Mid-Crosstown Ry.) against the
New York Rys. Co. on the ground that the Federal Courts had
no jurisdic¬
tion.
On Nov. 14 1918 a
settlement agreement was made with the bond¬
holders' committee and the litigation (case had been carried into the
State
Court)
terminated.
8TOCK AND BONDS—
Date
4%
2,250
g? 1912
5 A-O
30.609.487 Jan
1 1942
(see texfc)c»&r*tf lFarmers* Loan A Trust Co., N. Y., Trustee.
First real estate & ref. and adjustment income
coupon bonds are in denom.
of $1,000; registered bonds are for $1,000. $5,000 or
$10,000.
Int. on both
Issues payable at office of company or its
agency in New York City.
iLexington Ave &
Pavonia
( 1893
5 g M-S
5,000,000 Sept 1 1993
Ferry 1st M gold__c*<krntf1 Interest at office of company in New York.
non-cum
aColumbus A Ninth
1893
5 g M-S
3,000.000 Sept 1 1993
first mortgage goId.cArntf (Guaranty Trust Co.. N. Y.
City, Trustee.
gu$350.000($l.000) 1889
5 A-O
350,000 April 1 1919
Broadway Surf RR first mtge
5 J-J
1,500.000 July 11924
flCentral Crosstown first mtge 1882
6 M-N
250,000 Nov 1 1922
Bills payable June 30 1918
400.000
Company separately operated—
'
*34th St. Crosstown first mtge 1896
5 A-O
1.000,000 April 1 1995
Lessor Companies—
Avenue/
aSo Fv 1st
Broadway A 7th Ave con mtge 1893
Bleecker St A Ful Fy first mtge 1876
Christopher A 10th Sts 1st M. 1898
•Eighth Ave certs of indebt.—
Twenty-third 8t RR mtge
Int.
1914
1912
a
line
Proposed Consolidation, Ac.—Statement by P. S. Commissioner Nixon
caption.
Franchise
Tax
Decisions.—For decisions of Supreme Court Justices
McCall and Davis, reducing the assessed valuation of the
special franchises
In 1910 and 1911. see V. 95, p. 1473.
Siaten Island Transfers.—The arrangement made between the
company
and the city for free transfers at the Battery to and from the
ferryboats
and the cars of the New York Railways running to the
Battery (see V.
99,
p. 49) was passed in July 1914
by the Board of Estimate.
No re-transfers
permitted and of each nickel the city received 2 cents and the company 3
cents.
The plan took effect
Sept. 15 1914, but was terminated on Sept. 15
1919 by the receiver for the company, who was authorized to take such
action by Federal Judge Mayer.
V. 108, p. 2433; see also V. 109, p. 1180.
Fares—Transfer Charge Allowed.—On July 7 1919 P. S. Commissioner
Nixon authorized the receiver to charge 2 cents for transfers at 99 of the
113 points where transfers had been given free.
The receiver had applied
for authority to charge 3 cents for such transfers.
V. 109, p. 172, 270, 371,
477.
See also V. ill, p. 189.
A resume of the company's efforts up to
this time to obtain higher fares or relief in other forms and the
attitude of
the city administration on this question will be found in the March
29 1919
number of this publication, page 83, under the
caption, "Fares."
A writ of
certiorari obtained on Nov. 17 1919 by Corporation Counsel Burr
calling for
a review of Commissioner Nixon's action in
abolishing free transfers on the
co.'s lines and on the lines of the B. R. T. (V. 109,
p. 1987) was quashed by
Justice Greenbaum of the Supreme Court on March 16 1920.
V.110, p.1183.
Suit under Adjustment Mtge.—The suit
brought by the N. Y. Life Ins.
Co. to recover unpaid Interest on the bonds since Jan. 1
1912 (approx. $50
for each $1,000 bond, Incl. coupon due April 1
1915) was dismissed in
5%
x$8,150,000 Dec
1 1943
700,000 Jan
210,000 Oct
750.000 Feb
11950
1,500.000
Jan
1 1923
11929
11962
on
Rys. pays the
Eighth Ave. RR. (but see under separate heading above).
x There are also
outstanding $1,500,000 B'way A 7th Ave. RR. 1st M. 5s which fell due In
1904 and are all held by New York Railways.
First real estate and refunding mtge. is not limited as to amount of auth.
Issue, but further bonds may be Issued to refund or acquire underlying
bonds, subsidiary bonds and other bonds, any obligations secured
upon
mortgaged or leased properties; to acquire securities of other companies to
be pledged under mtge. and for add'ns, exten's and impts.
See purposes
for further Issue in full In V. 94, p. 977.
Red. on any Int. date on 12 weeks'
notice, at 105 and int.
See V. 94. p. 977.
Bonds are listed on N. Y. Stock
Exch.
V. 94. p. 827, 977; V. 101, p. 2145.
Div. on Income Bonds.—Initial dlv. of $7 71 10.771%)
paid Oct. 1 1912
(V. 95. p. 544).
In 1913, April, $22 50 (2K%): Oct., $16 36 (1.63%).
In 1914. April, $23 45 f2.34%);
Oct.. $12 88 (1.288%).
In 1915, April,
$17 69 (1.769%); Oct., $13 70 (1.37%).
In 1916. April. $31 94 (3.194%).
Oct., $19 81 (1.981%).
None since.
See V. 106, p. 929.
Lexington Ave.4 A Pavonia Ferry 5s and Columbus A Ninth Ave. 5s were
fully described In V. 60, p. 1146.
Both were guar, and later assumed by
the Metropolitan 8treet Ry. Co. (now New York
Railways).
Christopher & 10th St. 1st J 4s.—Originally fell due Oct. 1 1918, but were
extended for 5 years to Oct. 1 1923.
Amortization
Fund.—On
Dec.
10
1912
P.
S.
Commission
modified
its
order of Fieb.
27 1912 (see V. 94. p. 698) by striking out the provisions
requiring the setting aside each year of a specified amount as an amortiza¬
tion fund,
as
it found it did not have power to make such requirement.
It
however, its order requiring the setting aside each month,
re-affirmed,
beginning Jan. 1 1912, for maintenance and depreciation of a sum at least
equal to 20% of gross operating revenue for such month.
V. 95, p. 1608;
V. 94,
p. 698.
On Jan. 18 1918 the Appellate Division of the Supreme
Court dismissed the writ of certiorari granted by Supreme Court Justice
Platzek on April 17 1913 to review the order. V. 106, p. 396. In May 1918
the N. Y. State Court of Appeals reversed the decision of the
Appellate
Division. V. 106, p. 2560. An application for a modification of the order
so that it should provide for the
setting aside of 20% of the gross passenger
revenue only instead of 20%
of the gross operating revenue was denied
by the P. S. Comm. on July 27 1915. V. 101. p. 370.
Adjustment Income Mortgages are redeemable on any Jan. 1 or July 1 in
whole but not In part at par and int.
Holders of adjust, mtge. bonds
shall have the power, by vote of a majority thereof, to elect one lbss than a
majority of the members of the board of directors until the full 6% per ann.
shall have been paid to holders annually for 3 successive years, and again
thereafter, during a like period, whenever a failure to pay such annuallnt.
shall occur.
During such periods, also, the holders of said bonds shall have
full power in respect of all other questions, upon which stockholders may
vote, to cast one vote for each $100 of the principal of the bonds held by them.
V. 94. p
977.
Bonds are listed on N. Y. Stock Exch.
V 94. p.827. 977.
REPORT.—For fiscal years (1918 report In V. 107. p. 1745):
1917-18.
Revenue
Free
transfers
83.891,488
-
Operating Income
Other income
Gross Income
on
on
on
108.521.893
7.868.810
8.374.079
$3,788,663
1,170,224
$3,625,299
$5,340,452
1,032,012
1,038,122
$2,618,339
$2,593,287
$4,302,330
627.118
647.600
567.869
$3,245,457
$3,240,887
$4,870,199
Deduct—
Int.
85.088.109
8.131.471
Net earnings
int.
1915-16.
322,034.337 314,627,792 383,303,084
$11,920,034 $11,494,109 $13,714,531
Operating expenses
Int.
1916-17.
223,765,819 215,672.697 257,028,563
14,377,030
13.866,986
17.752,628
passengers
Revenue transfers
on -
solution of the rapid transit problem in New York
City is summarized
under caption "Rapid Transit in N. Y. City," in V.
109, p. 578.
See also
V. 110, p. 971; V. Ill, p. 589, under same
5 g J-D
4 J-J
4 A-O
6 F-A
these bonds paid at office of company, 165 Broadway, N. Y. O.
•
Interest on the $750,000 certificates of indebtedness of the
Eighth Ave.
RR. is paid out of the $215,000 rental which the New York
a
Taxes
franchise drawn by the city permitting the operation of
V. 105, p. 1618.
Maturity.
(see text)
Convertible scrip
\djust Inc M $33,000,000
of the bonds, representing the discount on the bonds.
Has acquired 8,536
shares of the stock of the Bleecker St. & Fulton
Ferry RR. at $28 50 per sh.
Franchises.—Most of the franchises are
perpetual.
In Oct. 1917 the co.
a
Outstanding.
$17,495,060
gold? 1912
4 J-.T
18,061.290 Jan
1 1942
c*Ar*tf\Guaranty Trust Co.. New York, Trustee.
Total passengers
Gross earnings
in W. 86th St.
Interest.
Stock $17.500.000 ($100)
1st real est & ref mtge
to purchase the $600,000 capital stock of the 23d Street
Ry. at $350 per
share and to issue first real estate A ref. 4s to pay for same.
$507,500 of
the stock has been so purchased.
The authority was given on condition
that the company shall provide for an amortization of
20% of the face value
rejected
lower court, rendered
a
decision giving Mr. Leighton the full
standing that the N. Y. Life Ins.
a
Co. previously had in the case.
underlying bonds, rents, Ac__
1st real estate A ref. bonds..
adjust, mtge. income bonds..
Total
Deficit for year
Total deficit June 30
,
$2,676,550
722,542
$2,666,052
722,888
$2,707,883
722,609
1.584.946
$3,399,091
$153,631
$3,388,940
$148,053
$5,015,438
$145,239
1918 as Der balance sheet, $1,355,880.
Latest Earnings.—For years end. June 30:
12 Mos.—
Gross Inc.
Net, aft. taxes. Int., Rents, Ac. Bal., def
1918-19
.-$12,417,679
$1,248,071
$3,423,029
$2,174,958
1917-18
12,547,152
3,245,458
3,399,091
153,633
$13,104,254; net, before taxes, def., $376,683.
1918, gross, $11,212,760; net, before taxes, $1,676,897.
ROAD.—On June 30 1918 owned 42.756 milesof track, of which 29.580
miles are underground electric and 13.176 miles storage electric; leased
96.646 miles (92.788 underground electric and 3.858 storage electric); oper¬
ates under agreement 11.615 miles (11.138
underground electric and 0.477
storage electric); total track, 151.017 (133.506 underground electric and
17.511 storage electric).
Owned and controlled, 1,977 passenger (1,861
electric and 116 storage battery), and 141 service (130 electric and 11
horse); total, all cars, 2,118.
Main power station equipped with eleven
3,500 k. w. generating units and 5 sub-stations and distributing systems,
including 1,615 miles of single-power transmission ducts.
OFFICERS.—Receiver, Job E. Hedges; Gen. Mgr. for receiver, Frank
Hedley; Sec., W. A. Anderson; Treas., J. H. Campbell; Gen. Atty. for
receiver, J. L. Quackenbush.
Gen. offices, 165 Broadway, N. Y.—V.109,
p. 72, 173. 371, 477, 677. 776. 888,1080,1180.1273, 1366, 1462, 1610,1987,
2074, 2357; V. 110, p. 75, 360, 562. 871, 1188, 1643, 2292, 2658; V. Ill, P74, 189, 294. 693, 793, 1084, 1279, 1370.
For cal. year 1919, gross,
In
*
ELECTRIC
88
Companies Controlled by New York
Dec. 12 1864.
Leased to 23d Street
for 99 years; lease assigned to Metropolitan Street
Rental is Interest on $700,000 bonds, 1M%
stock, taxes and corporate expenses of $600.
Par.
Interest.
Outstanding.
laturlty.
Stock
$100
1H % J-J
$900,000
See text.
1st M gold, were formerly 78,]
1,000 4 g J-J
.
..*
700,000 Jan 11950
extended In 1900 as 4s.ntf [Guaranty Trust Co., New York, Trustee.
Of the $900,000 stock outstanding, $853,600 Is owned by the N. Y.
per annum on
and are red. In wbole or ir
STOCK AND BONDS—
fund
•ball have been
6.25 miles of track.—V. 90, p. 913;
1522, 2364.
V. 104.
1700.
p.
<5c Seventh Avenue.—Change to underground electric
1901.1
Receivership.—In Oct. 1919 Job E. Hedges was made receiver for the co.
for the purposes of the foreclosure suit noted below.
V. 109, p. 1366.
ORGANIZATION.—Chartered May 26 1864.
Leased May 13 1890 for
unexpired term of charter,and for any extensions of the same, to Houston
"test St. Sc Pavonia Ferry, now New York Railways.
Franchises peroetual
RENTAL.—Interest on bonds and 10% on $2,100,000 stock, of which
New York Rys. owns $1,400,200. besides taxes and corp. expenses.
The following committee has been formed to protect the interests of the
minority stockholders:
Stockholders' Committee.—C. Robt. Adams, Joseph Wallker, Jr., Harrison
K. Bird, Harry M. Curtis and Geo. C. Warren.
Depositary: Columbia
Trust Co., 60 B'way, N. Y. City.
Deposits have been called for.
Y.
110, p. 464; V. 109, p. 2355.
Committee for South Ferry 1st M. 5s.—C, W. Beall, P. C. Krauthoff;
Sec., Fredk. S. Burroughs, 56 William St., N. Y. City.
Depositary, Cen¬
tral Union Trust Co., N. Y City.
V. 108. p. 1166.
Foreclosure.—The proposition of Receiver Hedges to extend the $350,000
South Ferry 1st 5s, due April 1 1919, for one year (with interest) was
declined.
On Sept. 30 1919 the Guaranty Trust Co., N. Y., brought suit
in the .U. S. Dist. Court to foreclose a mortgage for $1,500,000 made in
1883 by the B'way & 7th Ave. RR. Co., of which it is now successor trustee.
The bonds secured by this mortgage fell due June 1 1904 and were then
taken up without cancellation and later, in 1912, when the N. Y. Rys. Co.
made its 4% 1st Real Est. & Ref. Mtge. they were pledged as part security
thereunder as shown in V. 94, p. 978.
This foreclosure suit we are informed
wjis brought for the purpose of protecting the right of the 4% bonds as
against the $350,000 mprtgage of,the South Ferry RR.
This last mort¬
gage is the only underlying security of the N. Y. Rys. Co. which is in default
and the holders of the bonds issued thereunder have been threatening
foreclosure; hence this counter suit.
V. 109, p. 1366.
Compare V. 109.
p. 1273.
Int. due June 1 1920 on the co's. $8,150,000 cons. mtge. 5s was paid
when due.
SECOND AVENUE RR.—Underground electric.
Receivership.—In Sept. 1908 Justice Blschoff in Supreme
V. 109, p. 1462.
Anticipating the default in the payment of the Oct. 1 1919 int. on the
$3,140,000 6% receiver's certificates, the following corftmittee was formed,
in July 1919, to protect the interests of the holders.
V. 109, p. 1462, 2357.
Committee for 6% Receiver's Certificates.—Chairman, George E. Warren;
A. A. Jackson, Geo. E. Barstow, Jr., Herman D.
Kountze, J. F. B.
Mitchell: Sec'y., Arthur W. Hutchins, 60 Bway., N. Y. City.
Deposi¬
taries: Columbia Trust Co., N. Y., and the Girard Trust Co., Phila.
In
Dec. 1919 $2,787,000 (about 90%) of these certifs. had been deposited with
the committee.
V. 109, p. 2357.
Foreclosure Suit.—On Dec. 16 1919 a summons and complaint w a suit
for the foreclosure of receiver's certificates were filed on behalf of the pro¬
tective committee (see above).
For details see V. 109, p. 2357.
Settlement.—On Dec. 21 1915 Supreme Court Justice Whltaker auth.
the receiver to settle with the New York City Railways Co., the suit against
Bway & 7th Ave cons mtge'
t
1.000
of 1893 for $12,500.000-ntf lint, at Guaranty Trust Co., N. Y.. Trustee.
Of the consolidated mortgage of 1893 for $12,500,000, $3,350,000 Is re^
reserved to retire at maturity the
other bonds In the table.
The Broadway
Rys. Co.)
and Inter*
Co.. since fore¬
right to use the
also a direct lien
Issue except for
Surface 2d mtge. bonds, due in 1906 (all held by the New York
were canceled In 1914.
The consols were guaranteed, principal
under the terms of the mtge.
by Metrop. 8treet Ry.
closed.
They cover the road owned In fee and also the
tracks on Broadway from 15th St. to the Battery; they are
on the cable
(since changed to electricity), Sec.
Closed
It and Its
109. p. 2355; V.
miles of track—V.
110,
Railways Co.
p.
The bonds originally matured on Oct.
1
See annual r^oort of "N.
1923.
1
Met. St
Stock $2,500,000
$100
($100)
$650,000
See text
June 30.
1898 In the Interest of the
Met. St. Ry. (now N. Y. Rys.) to build a line from 130th St. and 11th Ave.
along 11th Ave
to 175th St. and another from 145th St. and 11th Ave.
easterly through 145th St. to the Harlem River.
Has constructed 2.06 m.
Nov. 19
1917-18
1916-17
Latest
$47,844.
ienox
years
same
of
operation.
or
now
499.
(6) Sixth Avenue RR.—Underground trolley.
Rentals Unpaid.—In Sept. 1919 Judge Mayer stated that the Sixth Ave.
line "has continued to be operated without a single dollar of rental being
paid."
ORGANIZATION.—Leased
to
Met.
St.
Ry.,
now
New
York
Rys
Co
Bridge.
Thirty-Fourth
Street
Crosstown
Ry.—Underground electric.
ORGANIZATION.—Chartered March 18 1896. being a consolidation of
the 34th Street Railroad Co. and the 34th Street Ferry & Eleventh Avenue
Railroad Company.
Entire stock of the 34th Street Crosstown Railway
Co. Is owned by the New York Rys.
Operated under agreement dated
Dec. 21 1896. guaranteeing principal and Interest of the bonds.
Interest Payment.—'Tne interest due Oct. 1 1919. as well as subsequent
int. on the company's 1st M. 5s was paid when due by order of the court
STOCK AND BONDS—
DaU'
Interest.
~
Outstanding.
Maturity.
Stock ($100)
$1,000,000
First mortgage ($1,000) guarf 1896
5 A-O
1,000.000 April 1 1996
prin & lnt by N Y Rys.ntf 1 Central Trust Co.. New York. Trustee.
ROAD.—Track owned Is 1.66 miles.
V. 71. p. 135; V. Ill, p. 794.
(8) Twenty-Third Street Ry.—Underground trolley.
O RGANIZATION.—Chartered June 29 1872.
Leased from Apr. 25 1893
to the Met. St. Ry. Co. (now N. Y. Rys.) for the unexpired term of the
charter and for any extensions of the same.
Rental is 18% on stock (in
default since May 1 1919), all taxes, assessments, water rents and charges.
The New York Railways owns all of the debentures due 1906, all of the 1st
M. bonds due 1909 and $507,500 of the $600,000 stock, for which it gave
$350 of its own 1st real est. Sc ref. 4s due July 1 1942 for each $100 of stuck.
Interest.—The int. due July 1 1920 on the co's. impt. & ref. mtge. 5s
was
not
paid until August 1920.
Y. Ill,
p.
897.
i
(This company ceased operating on Oct. 4 1919.
V. 109, p. 1461.)
1914 tne company applied to cue P. 8. Comm. for autnoricy to
On Jan. 7
Issue $8,650,000 bonds on account of the cost of acquiring
Belt Line Ry. Corp. (V. 96, p. 946. 1020, 1295). the N. Y.
to Battery Place.—V. 88, p. 946; V. 106. p. 500. 822.
(7)
1578; V, 107, p.
Ry. and the $1,750,000 5% bonds of the Belt Line Ry. Corporation. With
tbe N. Y. Rys.. the Coney Island & Bklyn. RR. and tbe Bklyn. Rap. Trans.
control* the Bklyn. A North Rivpr RR.. operating over Manhattan
Feb.l 1892 for 800 years. Rental $ 145 .OOOperann.,which is 7H% on stock
besides all taxes.
Stock. $2,000,000; par $100.
An extra dividend of 38%
was paid In Aug. 1901 out of proceeds of sale of stable
property at Sixth
Ave. and 43d St.
Road, Including Lenox Ave. branch (track operated)
12.14 miles.
In Feb. 1899 began operating underground trolley all the
way
p.
1567; V. 91, p. 338) took over the property of the old Third Avenue RR.,
1 1910.
V. 93, p. 1535.
Owns ail or practically all of the stock of the following: Union Ry., Dry
Dock East B'way & Battery, 42d St. Manhattanville & St. Nicholas Ave.,
Yonkers RR., Westchester Electric, Southern Boulevard. Kingsbridge Ry.,
New
York City Interborough, New York Westchester & Connecticut
Traction Co.. Mid-Crosstown Ry. Co., Inc., Belt Line Ry. Corporation.
Pelham Park & City Island Ry.. Bronx Traction Co.. Third Ave. Bridge
Co.;also the $1,487,000 outstanding 2d M. inc. bonds of 42nd St. Man. &
St. NIch. Ave. Ry., the $2,164,000 bonds of the N. Y. City Interborough
formerly deposited under Met. St
,
ROAD.—Owns 5.77 miles of track.—V. 89. p. 993; V. 106. p.
106,
•old at foreclosure on Mar.
.6% bonds (due
^
miles.—Y.
ORGANIZATION.—Incorporated in New York on Apr. 20 1910 and on
Jan. 1 1912 (Court of Appeals having affirmed tbe decision of the Appellate
Division of Supreme Court, which reversed the order of the Public Serv.
Comm., refusing to approve reorganization plan; subsequently approved by
the Comm. on Jan. 17 1912.
V. 94, p. 209; V. 93, p. 1464; V. 92, p., 1637,
N. Y. Rys., from April 6 1893 for duration of charter and renewals
Stock. $748,000
Ry. ref. mtge.. have been canceled.
23.90
THIRD AVENUE RY.—Underground trolley.
renewed) upon payment
in accordance with definitely prescribed rules.
(51
Forty-Second St. Sc Grand St. Ferry RR.—Horse and electric.
ORGANIZATION.—Chartered Feb. 16 1863.
Leased to Met. St. Ry.
Co.,
operated.
1386; V. 109, p. 1462, 2357; V. 110, p. 563.
The road to become the property of the city
(whether original
fiscal year ending June 30:
Total
Net (after Int. on Rec'r's
Surplus or
Receipts.
Taxes).
Certfs., &c.
Rents.
Deficit.
$853,015
$130,119
$191,610
def.61,491
751.293
67.944
189.073
2,355
def.123,484
Earnings.—For cal. year 1919, gross, $921,552; net, before taxes,
In 1918, gross, $820,747; net, before taxes, $106,726.
ROAD.—Track
New York Rys.
V. 67, p. 1109.
Franchise granted Dec. 1889 for 25 yrs.
with privilege of renewal for another 25 years, 4% gross receipts to be paid
the first 5 years, 6% the second 5 years, 8% the third 5 years and 10% the
at the termination of franchise
M
Year—
Erojectedon Broadway and is operating 1.69 m. of track on all owned between
Ave. and Broadway.
Stock auth., $3,000,000, 145th St. by the
remaining
cons
EARNINGS.—For
Fort George Sc Eleventh Ave. RR.—-Underground-trolley.
for the
Maturity.
$100
9 Q-M
$1,862,000
See text.
cntff 1,000
6 A-O
3,140,000
See text.
[Callable at 100 and Interest.
ntf
1,000
5 J-J
89,000 Jan
11909
gold $7,000,000/ 1.000
5 g F-A
5.631,000 Feb 11948
1 Guaranty Trust Co., New York, Trustee.
Of the new first consolidated 5s, $1,369,000 were reserved to retire securi¬
ties of earlier date.
V. 66. p. 900.
For mistake of trustees in exchanging
<ome 5s of 1909 for consolidated 5s of 1948. see V. 76, p. 654.
mortgage extended In f
1,000
4 A-O
210,000 Oct
1 1923
1898 (V. 67, p. 370).«-ntfiGuaranty Trust Co.. New York, Trustee.
ROAD.—Track owned is 4.15 miles.—V. 107, p. 905, 1836.
(4'
1889
Outstanding.
Interest.
1898 guar p Sc i end..c*tf
First
ORGANIZATION.—Incorporated
of
Debentures
Maturity.
Outstanding.
8 Q-J
($100)
1918, but
Rys. Co.,"
First
Interest.
Par.
Par.
certfs
Receiver's
Was formerly leased to
1853.
V. 66. p. 185.
Ry.
SECURITIES—
1745, and V. 107, p. 1836.
STOCK AND BONDS—
Stock
Y.
Court of
inter-receivership account;
In
ORGANIZATION.—Chartered Jan. 21
(purchased
107,
Metrop. St. Ry., on payment to the
2146.
maximum fare.
Leased to Central CrossJuly 24 1918 by New York Railways at foreclosure)
April 26 1890 for unexpired term of its charter at 8% on stock, interest on
bonds, taxes, Ac.. and not more than $1,500 per ann. for organization exo
The Central Crosstown. RR. was purchased by the N. Y. Rys. Co. on July
24 1918.
The company's $210,000 1st mtge. bonds are all owned by the
ORGANIZATION.—Chartered April 25 1873.
extended to Oct.
P.
petitioned the P. 8. Comm. to "establish such new regula¬
regard to rates, fares and transfer privileges, or otherwise so to
authority as to make possible the earning of a more adequate
return upon the capital invested."
In May 1918 the P. 8. Comm. adjourned the hearings on this applica¬
tion following the decision in tbe Rochester Fare Case (V. 106, p. 1461),
in which It was held that the Comm. was without power to grant increases
in fare where the companies were bound by franchise obligations to a
464.
in V.
101.
In May 1917
tions
(3) Christopher Sc Tenth Streets RR.—Electric.
were
V.
See
exercise its
assumed under lease.
10.31
predecessor, the
1548,352 for breaking the lease, amount due on
Ac.
refunding purposes.
The Bway. Sc 7th Ave. assumed the Broadway Surface 1st M; bonds for
$1,500,000 and payment of int. on the 2d M. bonds for $1,000,000 (now
retired) for use of tracks between 15th St. and the ferry.
South Ferry 5s
ROAD.—Comprises
Court appointed
in suit by Guaranty Trust Co, to fordmidnight on Nov. 12 1908 receiver
took possession of the property.
Charles E. Chalmers is now recelveer
Div.
on
stock
due June
1908 was defaulted.
Default of Int. on
bonds
occurred
as
follows:
1st
(gen.)
Mtge., Nov. 1
1908 (subse¬
quently retired; V. 91, p. 1255); first consols. Aug. 1 1908; debentures,
July 1 1908A committee was formed to protect the Interests of the
first consol. 5% bds.
V. 87. p. 347, 1238. On Oct. 1 1910 Justice Amend
In Supreme Court authorized receiver to Issue $2,500,000 receiver s certfs,
co be used to retire $1,280,000 gen. cohsol. 5s and $500,000 receiver s ctfs.'
due Oct. 1 1910, and for franchise taxes, improvements and equipment.
V. 91. p. 946.
In Jan. 1911 $500,000 additional certfs. were authorized for
improvements and equipment.
Y. 92, p.264. As these matured.various
other issues were made from time to time.
In Oct. 1913 $3,200,000 1-year
fl% receivers' certifs. were authorized to retire $3,140,000 falling due Oct. 1
1913, which have been extended from year to year.
V. 105, p. 1310; v .
107, p. 1386.
The interest due April 1 1918 on these certfs. was deferred
until May I 1918 (V. 106. P. 1578).
October 1918 interest was paid when
due.
V. 107, p. 1386.
The Oct. 1 1919 int. was not paid when due.
Outstanding.
Maturity
$2,100,000
See text
1,500.000
1904
1,500.000 July 1 1924
5 A-O
3.50,000 Apr
1 1919
8.150.000 Dec
1 1943
5g J-D
.
_
.
owned and operated 16.869
106, p. 499; V. 109. p. 1080, 1273
George W. Llnch separate receiver
close consolidated mortgage.
At
5%
5 J-J
1.000
1,000
Broadway Surface first guar..
South Ferry first guaranteed..
CO.—A subsurface contact electric road.
ROAD.—Fulton St. to 126th St., total track
miles.—V.
10 Q-J
$100
1675;
ORGANIZATION.—Chartered July 29 1859.
The road was leased to
the Met. St. Rys., now New York Rys., for 99 years from March 12 1892,
but on Sept. 26 1919 Federal Judge Mayer ordered the receiver of the N. Y.
Rys. to return the line to its owners for independent operation beginning
Oct. 1 1919.
Transfers are neither given nor accepted.
V. 109, p. 1273.
Stock, $800,000; par, $100; dividends Q.-J.
Interest.
Par.
STOCK AND BONDS—
AVENUE RR.
NINTH
■
Stock $2,100,000 ($100)
1st M (all held by N Y Rys)..
track
,
(2) Broadway
occurred in Aug.
N. Y.
Tax-exempt In N. Y.
ROAD.—Including 14th St., Bleecker St. and Canal St. branches,
Ralls, 47 to 113 lbs., standard gauge.—V 99. p.
V. 100, p. 2011, 2168; Y. 106, p. 500; V. Ill, p. 74, 295, 794,897.
Co.
1898. 2450; V. 105, p. 72. 496,
town
int. date at
payable nemi-ain.u™./,
acquired they shall be canceled.
on any
$1,102.85.
owned, 4.21 miles.
ROAD.—Owns
p.
Maturity.
-
First mortgage $250.000
Debentures ($1,000)
ORGANIZATION.—Chartered
est
Outstanding.
Interest.
$600,000 18% per an.
18 Q-F
6 j_J
1896
6 J-J
250.000 Jan 1 1909
1886
5 J-J
150.000 Jan
1 1906
Impt Sc ref. mtge $1,500,000/ 1912
5 g J-J
1.500.000 Jan 1 1962
($1,000) gold guar
c*lBankers Trust Co.. N. Y.. Trustee.
Bonds.—The impt. Sc ref. mtge. bonds are guar. p. Sc 1. by^N.Y. Rys- Co.
Stock ($100)
Ry. (now New York Rys.).
Railways
DaU.
8TOOK AND BONDS—
Railways.
Bleecker Street & Pulton Ferry RR.—Horse and electric.
The New York Railways owns 8.536 shares of the company's stock.
(1)
Railway Co. Jan. 10 1876
[Vol. 111.
RAILWAYS
control of the
City Interbor¬
ough Ry. Co. and the Mid-Crosstown RR., and to pay for certain construc¬
tion work. See V. 98. p. 74. A preliminary order was procured In Mar. 1914.
auth. the Issue of $4,000,000 of these bonds against the purchase by the
3d Ave. Ry. of certain securities of the N. Y. City
Belt Line Ry. Corp. (see annual report of 3d Ave. in
Issuance of
were
a
issued
Interborough and the
V. 99. p. 1447).
The
Oct. 8 1915, which
investment for the
further $2,020,500 of bonds was authorized
and
purchased
by the company as
an
depreciation fund.
appraisal of system in 1918 see V. 106, p. 1462.
Transfers.—On Nov. 1 1912 began transferring to the Second Ave. RR.
way of the Belt Line Ry. Oorp.'s 59th St. line.
The last-named company is now part of the Third Ave. Ry. system.
On May 25 1917 applied
to P. 8. Comm. for permission to charge 2c. for transfers without further
charge for a re-transfer.
In May 1918 the P. S. Comm. adjourned the hearings on this petition
following the decision in the Rochester Fare Case (V. 106. p. 1461), to
which it was held that tbe Comm. was without power to grant increases In
fares where the cos. were bound by franchises to a maximum fare.
See
V. 106, p. 2650.
Bus Franchise Asked.—In July 1920 the co.. on behalf of its subsidiary
the Dyckman St. Transportation Co:, applied for auth. to run a bus line on
Dyckraan St.. Nagel Ave. and 10th Ave. at a 5-cent fare with a 3-cent
transfer charge to tne Third Ave. line. ^V.^.111, p. 390.
Valuation.—For
by
.
'
Oct., 1920.]
ELECTRIC
STOCK AND BONDS—
Stock $16,590,000 ($100)
Date.
Interest.
Outstanding.
Maturity.
$10,590,000
See text
5.000.000 July 1 1937
—
3d Ay BR 1st M g ($1,000) -tf J1887
5 g J-J
.
■
lint, at Farmers' Loan & Tr. Co.. N. Y.
First refund M
$40,000,000} 1911
4 J-J
21.990.500 Jan 1 1960
gold (see text)
c»&r»tfllnt.at Central Tr. Co., New York. Trustee.
Adjust lnc mtge $22,536,000/ 1911
5 A-O
22,536.000 Jan
1 1960
gold (see text)
c*<fcrHf\Int. at U. S. Mtge. & Tr. Co., N. Y.. Trus.
Stock and bonds all listed on N. Y. Stock Exchange.
RAILWAYS
89
*
STOCK AND BONDS.
Par.
Stock ($100) all owned by 3d Ave.
First mortgage 1892gold--tf.f 1.000
\lnt.
„
Guaranteed Loans—
Westchester 1st M gu p &
i\$1,000
5 g J-J
500,000
July 1943
ntf/ Int. at Bankers Tr. Co.. New York, Trus.
gold 1893..
Southern
gold
Boulevard
RR
1st!
5 g J-J
....
250,000
July 11945
tf/Central Trust Co., New York, Trustee.
1895
Bonds.—Coupon bonds of both Issues are In denom. $500 and $1,000,
registered bonds are for $500 and $1,000 or multiples of $1,000.
Of the
1st ref. bonds, $10,071,500 are reserved for underlying bonds and re¬
mainder for future extensions and
improvements, under proper restrictions.
Of the bonds reported outstanding, $2,520,500 are in the depreciation and
contingency fund at the disposal of the company.
Redeemable on any
Int. date at 105 and Int. on 3 mos.' notice.
See V. 94, p. 706.
Int. on
Yonkers RR first mortgage...
Income bonds is cum. after Dec. 31 1912.
Inc. bonds are red. as a whole
but not in part on 1st day of any month on 3 mos.' notice at par and Int
tion of several small companies.
$320,000 have been purchased by the company.
V. 102, p. 887.
Adjust
inc. mtge. holders to have full voting powers until full Int., including
accum.. shall have been paid for five successive years,
See V. 94, p. 706.
Dividends on Income Bonds.—An Initial dividend or 1)4 % on the adjust
Inc. bonds was paid April 1 1913 for the 6 mos. end. Dec. 31 1912.
V. 96
p. 136.
Regular semi-annual divs. of 2)4% each were paid to and incl
Apr. 1917. In Oct. 1917 paid 1)4%. Apr. 1918 Int. passed. V. 106, p. 930
None since. V. 107, p. 1194.
Dividends on Stock.—Initial quar. dlv. of 1% was paid Jan. 1 1916
April, 1%; July. 1%; Oct., 1%.
The Jan. 1917 dlv. was omitted on ac¬
count of the strike in 1916. V. 103, p. 2079.
None since.
Mile.
ROAD—Operated.
Miles'.
Third Avenue Ry. Co
27.188 Bronx Traction Co......... 22.938
Kingsbridge Ry. Co
7.150 N.Y.Oity Interboro. Ry.Oo. 37.334
42d St. M. & St, N. Ave. Ry. 20.291 Southern Boulevard RR.... 10.067
40.580
Dry Dock E. B. 8c B. RR.. 19.158 Westchester Elec. RR
Belt Line Ry. Corp
44.003
24.590 Yonkers RR
♦Third Ave. Bridge Co
5.575
3.631 N. Y. West. & Conn. Trac..
♦Mid-Crosstown Ry. Co
5.254 ♦Pelham Park & City Isl. Ry
3.280
CJqlon Ry. Co. of N. Y. City 96.502
.
•
Outstanding. Last die., &c.
$2,000,000
5 g F-A
2,000,000 Aug 1 1942
payable at Central Tr. Co., N. Y. City
Interest.
.....
.367.550
Total
♦Ceased operating Aug. 8 1919
x
Suspended operations Aug. 31 1919
OARS.—Owns 1,134; controls 563; total, 1,697 cars.
REPORT.—Years end. June 30:
1918-19.
1919-20.
$
$
Total op. rev. 11,752,110 10,363,447
Total op.exp. 9,312,943
7,741,083
Oper.income 1,621,355
rev
...
revenue
.
191,909
156,882
1,813,264 1,961,186
..2,655,925 2,681,242
Dividends.
Deficit
......
842,662
......
—...
DIRECTORS.—Adrian Iselin, Jr., Harry Bronner, George W. Davison,
Frederick H. Shipman, W. Emlen Roosevelt, John W, Flatten, S. W. Huff,
Joseph H. Seaman. E. A. Manice, Wm.
A. Day, Lionel F.
Straus.
Edward M. Burghard and Alexander S. Webb.
V. 107, p. 2009, 2099,
2478; V. 108, p. 1938; V. 109, p. 777, 1180, 1698, 1793; V. Ill, p. 390.
(1) Dry Dock East Broadway & Battery RR,
Receivership Terminated.—On Nov. 23 1917 the receivership begun on
t
Feb. 1 1908 was terminated by a decree of the U. S. DIst. Court for
Southern District of N. Y. V. 106, p. 715.
the
ORGANIZATION.—Incorporated Dec. 8 1863.
Third Ave. Ry. owns
$1,198,000 of the stock.
In Jan. 1906 began operating Grand St. line by
electricity.
On Oct. 1 1911 changed from horse cars to storage-battery
cars on Avenue B and Canal St. lines.
V. 93, p. 1105.
On Oct. 25 1912
received permission from P. S. Commission to electrify road on Canal St.
V. 95, p. 1206.
Refunding Plan.—The plan dated July 9 1917 (V. 105, p. 497) for refund¬
ing the entire debt of the company, except the general mtge. bonds, was
declared operative in Feb. 1918.
Holders of deposit receipts for certfs. of
indebtedness received upon presentation thereof to the Union Trust Co.
of New York series C registered refunding bonds (convertible Into coupon
bonds) in the ratio of $59 10 series O bonds for each $100 par value
of certfs. of Indebtedness.
V. 106, p. 715.
All the series "B" bonds and
$650,839 of the series "O" bonds are owned by the Third'Ave. Railway
Co.
V. 107, p. 2004.
Interest.
6 Q-F
$100
General mtge gold
Outstanding.
$1,200,000
Maturity
See text
1,000
5 g J-D
950.000 Dec 1 1932
1 Farmers' Loan & Trust Co.. Trustee.
Gen refund mtge series B__„
4 J-J
528,000 Jan. 1 1960
Gen refund mtge ser O
c&r$100&c
Text
1,300,200 Jan. 1 I960
V Bonds.—Of the general ref. mtge. bonds, $1,500,000 are ser A 5% bonds,
of which $950,000 are reserved to retire the general M. 5s, due 1932, and
$550,000 may be issued to acquire additional property and for betterments,
but only upon the joint consent of the holders of at least 75% of the aggre¬
gate par value of series B and series C bonds then outstanding, or after
due notice and failure of holders of more than 25% of series B and O to
object thereto.
a
prior lien and preferred as to prin. &
Series B bonds are a prior lien over, and preferred both as to prin. &
Int. over, series C bonds.
Series C bonds to bear int. to and incl. July 1
1925 at such non-cumlative rate not exceeding 6% per ann. as earnings per¬
mit.
On and after Jan. 1 1926 are to bear int. at the fixed rate of 4%
int.
additional 2% if earned. V.
ROAD.—19.158 miles of track.
REPORT.—See above.
with
105, p. 497; V. 106, p. 715.
an
1192.
ORGANIZATION.—Chartered Aug.
29
1878.
In Nov.
1895 control
purchased by the Third Avenue RR.
See V. 61, p. 920.
In Dec. 1899 began to use underground electric system from Fort Lee
Ferry to Boulevard, then to Fifty-ninth Street.
$2,471,300 stock and ail the $1,487,000 outstanding 2d mtge. Incomes are
owned by Third Ave. Ry.; the remaining $113,000 2d mtge. bonds have
was
bocp retired
t
2*1 1912 Pub. Serv. Comm. granted auth. to extend for 30 years
1940 at 5% the 1st M. 6s matured Mar. 1 1910.
V. 94. p. 1695.
On June
STOCK AND BONDS—
Par.
Stock authorized $2,500,000—
$100
1,000
First mortgage gold 1880—tf
Red at 110 any int date.
Second mtge income 6s 1885
_
__
-—
1,000
6%
as
Outstanding.
$2,500,900
Maturity
1.200.000 Marl
5 M-S
Interest at Cent.
ROAD.—20.291 miles of track.
Bridge
Interest.
1940
Tijust Co., N. Y. City,Trus
earned Seetext
Jan I 1915
tflCent. Trust Co., N. Y., Trustee.
$1.600,000
Co.'s
Also operates the
3.631 miles of Third
track.
REPORT.—See above.—V. 94, p. 1695; V. 95, p. 679; V. 107, p. 1192.
($) Union Railway Co. of New York City.—A trolley road.
•ORGANIZATION.—Operates from 129th St. and Third Ave. through
the Borough of the Bronx, and with subsidiary lines continuing thence to
and through Mt. Vernon.
•
Owns $58,100 (all the outstanding stock) of the Bronx Traction Co.
New Franchises.—On July 2 1914 the Board of Estimate and Apportion
ment granted the company a franchise to cross the Willis Ave. bridge over
the Harlem River to 125th St.. and along 125th St. to the Fort Lee Ferry
The P. S. Comm. in approving the franchise exempted the company from
exchanging transfers with the Third Ave. and 42d St. M. & St. N. Ave
companies at intersecting points in said franchise. V. 99, p. 50.
In 1917
was granted a franchise for a line to the Dyckman Street Ferry, and in
Mar. 1918 received authority for its construction. See V. 106, p. 1231,
under "Rapid Transit in New York."
—
Outstanding.
Maturity.
$58,100
—-
Westchester Village, to Eastern Boulevard, and from West Farms Road to
Bleecker St.
Standard gauge;
109-lb. rails.
(4) Yonkers Railroad.—A trolley road.
In July 1912 Supreme Court of Westchester County made an order dis¬
charging the receiver.
V. 95, p. 112.
Operating Agreement with Union Ry.—On May 25 1911 Pub. Serv. Comm.
approved the terms of an agreement whereby cars of the Yonkers RR.
would run over certain tracks of the Union Ry. to the terminals of the New
York City subway aud elevated lines.
This reduced from 15 to 10 cents the
fare from Yonkers to lower Manhattan, restoring the old rate as before the
breaking up of the Metropolitan Street Ry. system.
Y. 92. o. 1245. 1438.
Fares.—In Nov. 1918 the Yonkers Board of Aldermen denied the co.
auth. to establish a zone system whereby 2 zones would be created in the
city and another beyond the city line, making a 15-cent fare possible.
V. 107, p. 2009.
In March 1919 the Yonkers Board of Aldermen allowed the co. to increase
the suit of
outside the city limits of Yonkers.
On May 26 1919 Judge
taxpayer for a mandatory injunction to restrain the co. from
a
10-cent fare.
a
V. 108, p. 1276, 1938, 2242.
bonds,
ORGANIZATION.—The Union Ry. guarantee* the Sl.OOO.OOO
& i. V. 67, p. 635.
p.
$992,500 stock owned by Third Ave. System.
STOCK AND BONDS—
Date.
Stock $1,000,000 ($100).
First mtge gold
$1.000,006T
1896
Interest.
Outstanding.
Maturity.
$1,000,000
1.000.000 April 1 1946
guaranteed-—
.ntf (Bankers Trust Co., New York
Trustee.
ROAD.—Owns 44.003 miles of track.—V. 107, p. 1103. 2009.
(6)
Kingsbridge
-
5 A-0
Railway.
ORGANIZATION.—Incorp. Jan. 25 1898.
The franchise, the terms of
are 4% of gross receipts for the first 5 years, 6% for the second, 8%
for the third and 10% thereafter, Is for 25 years, with privilege of renewal
u ider certain conditions for another 25 years.
At the end of the term the
city acquires the property, paying for it in I accordance with definitely
prescribed rules for fixing its value.
V. 69, p. 1248.
Work on this line
was begun in July 1901 and completed in 1902.
Runs from Amsterdam
Ave. and 162d St. to Broadway and 225th St., making 7.15 miles addi¬
tional.
Entire $8,600 stock owned by the Third Avenue Ry., which com¬
pany also operates the property.
which
New York City Interborough Ry—A trolley road.
Ry. owns $4,629,400 stock and $2,164,000 1st M. bonds.
& Third Ave.
'he
ORGANIZATION.—Incorporated in New York on March 24 1902, in
the interest of the Interborough Rapid Transit Co., to build au extensive
system of feeders for the subway and elevated lines in the Bronx, and to
afford street railway connections across the Harlem River bridges.
Application for Authority to Eliminate Transfers.—V. 109, p. 1366.
Date.
Interest.
Outstanding.
Maturity.
—
$5,000,000
$5,000,000.1 1905
4 g M-N
2.164.000 May 1 1928
sinking fund, gold.
tf J U. 8. Mort. & Trust Co.. N.Y., trustee.
Bonds.—Of remaining 1st M. bonds, $87,000 are in sinking fund and
STOCK AND BONDS—
Stock, $5,000,000 ($100)
First
-
mortgage,
$836,000
are
in treasury.
Three-cent transfers are exchanged at
and the Manhattan Elevated RR.
279; V. 95, p. 544,1274; V. 109, p. 1366.
ROAD.—37.334 miles of track.
eertain points with the subway system
—V. 93. p. 1191; V.
94,
p.
(7) Belt Line Railway Corporation—Storage-battery and electric.
ORGANIZATION—Incorp. at Albany on Dec. 24 1912 to take over
Che Central Park North & East River RR., sold at foreclosure on Nov. 14
1912 to Edward Cornell (V. 95, p. 1331, 1402; V. 104, p. 1701).
In March
1913 was taken over by Third Ave. Ry.
Vi 96, p. 864, 948.
In Mar. 1913 P. S. Comm. auth. the making of a mtge. for $4,000,000
1st M. 5s and the issuance of $1,750,000 bonds thereunder at not less than
95.
Entire stock and bonds owned by Third Ave. Ry.
On Nov. 7 1913 the P. S. Comm. granted the joint application of this co.
and the Third Ave. Ry. to increase the auth. stock from $600,000 to $750,000 and for the issuance of $253,000 stock to the Third Ave. Ry. in payment
of advances for the purchase of storage-battery cars.
V. 97, p. 1356.
Abandonment.—-The co. has
abandon the
ap^Hedline the P.15th Coram. the Battery.
to from SA St. to for auth. to
portion of its East
107, p. 2474.
V.
Date.
Outstanding.
Maturity,
$734,000
—'
See text
Jan. 1 1943
Interest.
$750,000
1st mtge $4,000,000 gold redl 1913
as a whole at 105.---—-tf/Central
Bonds
to Mar. 1
Interest.
Date.
ROAD—Owns 22.938 miles of track, operated by Union Ry.. from Bronx
River by West Farms Road to Westchester Village: from Bronx River by
Southern Westchester Turnpike to Westchester Village;
from Main St.,
Stock
(2) Forty-Second Street Manhattanville & St. Nicholas Avenue
Ry.—A horse road, but. Nov. 11 1900 changed to electricity.
Operates the
Third Avenue Bridge Co.
On Sept. 111912 Judge Lacombe signed an order discharging the receiver.
V. 95, p. 679.
Nothing is being paid on 2d mtge. 6s—all of which are
held by Third Avenue Ry.
In Dec. 1910 Pub. Serv. Comm. granted authority to operate 110th St
ine permanently by storage-battery power.
V. 91, p. 1766.
Avenue
STOCK AND BONDS—
STOCK AND BONDS—
INDEX.—V. 103, p. 239; V. 105. p. 497. 1522; V. 106, p. 715. Y. 107
p.
Co—A trolley road.
Stock $585,100 ($100)
1892—ntf|
Series A bonds are
Bronx Traction
by Union Ry.
720,056
.
Stock $1.200,000
la)
ORGANIZATION.—Incorporated on May 12 1904. and Is a consolida¬
See Y. 78. p. 2333,
Entire stock owned
J
rents,
&c
1,804,304
Par.
ROAD.—Including Bronx Traction, Westchester Elec. RR. and Southern
miles of track.
p. 489, 1318; V. 99, p. 60, 1971.
REPORT.—See above—V. 94,
fares by 5 cents
1918-19.
OFFICERS—Pres., S. W. Huff; V.-Pres. & Gen. Mgr., Edward A
Maher, Jr.; 2d V.-P., Leslie Sutherland; Sec., W. C, Burrows; Treas..
A. D. Sage; Aud., A. E. J. Tovey.
j
STOCK AND BONDS—
..........
Boulevard RR., operates 170.093
collecting
Interest
Gross
2,622,364
818,060
See below
........
Morshauser in the N. Y. Supreme Court at White Plains, N. Y., dismissed
1919-20.
Interest,
Net op. rev. 2,439,167
Taxes.......
817,812
....
are
5%
Trust Co.,iN. Y.i trustee.
1
guaranteed by Third Avenue Ry.
ROAD.—Owns road on 59th St., East and West, with belt line on East
of track. All elec. on 59th St.
Horse cars were replaced by storage battery cars on East and West Side belt
lines.
Owns 79 storage battery cars.—V. 99, p. 1450; V, 107, p. 2474.
and West Sides to South Ferry—24.596 miles
(8) Mid-Crosstown Railway Co.—Storage-battery cars.
Acquired by the Third Ave. Ry. late in 1913.
discontinued the running of cars,
money." V. 109, p. 578.
Judgments.—In Nov. 1919 judgments against the company, aggregating
$231,188, had been entered in the Supreme Court by the Third Avenue Ry.
and certain of its subsidiaries.
V. 109, p. 1793.
Discontinued.—On Aug. 8 1919 the co.
due to its inability "to borrow any more
ORGANIZATION—Incorp. in New York on Feb. 14 1912, in the inter¬
of the reorganization committee, as successor to the 28th 8c 29th Sts.
Crosstown RR., sold at foreclosure on Jan. 4 1912 (V. 94, p. 69; V. 104, p.
est
1703, 2119.
See plan of reorganization in V. 93, p. 1790.
In Feb. 1914 the P. S. Comm. authorized the Third Ave. Ry. to acquire
end hold the $150,000 stock of the Mid-Crosstown Ry. Co., Inc., and in
April 1914, in payment therefor, the Third Ave. Ry. Co. issued $180,000 of
bonds, and gave its 4% promissory note for $250,000. payable in three equal
annual installments, ana canceled claims amounting to $34,442 against the
Mid-Crosstown Co. (V. 99. p. 1447).
Stock, authorized and outstanding. $150,000 ($100).
ROAD—Track operated, 5.254 miles—V. 109, p.
(9) Pelham Park & City Island Ry. Co., Inc.
Operation Suspended.—On Aug. 8 1919 the co.
V. 109, p. 677.
578,677, 1793.
suspended operations.
ORGANIZATION, &c—Incorp. May 10 1913 In N, Y. and on July 9
1914 the Third Ave. Ry. acquired control.
Auth. common stock, $125,000;
outstanding. $45,000.
Length of road, 3.286 miles, from Belden Point,
City Island, to Eastern Boulevard, or New Rochelle Road. ^Operation by
storage battery was begun Aug. 18 1914—V. 99, p. 610; V. 109, p. 677.
FEDERAL LIGHT & TRACTION CO.
'
'
_
Co. Interests and Samuel Insull
in the stock and other securities
,
,
In Oct. 1916 Westlnghouse Elec. & Mfg.
of Chicago acquired substantia! holdings
of the company.
V. 103, p. 1687.
ORGANIZATION—Incorporated in 1910 in New York.
Holds a con¬
trolling interest in the following companies operating gas. electric lighting,
and traction properties located in cities mentioned In titles.
steam neat, ice
o
W
w
o
w
HH
o
w
fc
tr1
►
W
<
O
tr1
Ooi\, 1920.]
ELECTRIC
Albuquerque (N. M.) Gas & EL Co.
Central Arkansas Ry. & Lt. Corp.,
Hot
Springs, Ark.
Hot Springs Street Ry. Co.
Hot Springs Water Co.
Las Vegas (N. M.) Lt. & Power Co.
Las Vegas (N.
M.) TransP r^o.
Rawlins (Wyo.) Elec. Lt. & Fuel Co.
Sheridan (Wyo.) County Elec. Co.
Springfield (Mo.) Ry. & Light Co.
Springfield (Mo.) Gas & Elec. Co.
Springfield (Mo.) Traction Co.
Citizens'
Electric Co.
Consumers' Gas Co.
Deming (N.M.) Ice Sc Elec. Co.
Trinidad (Col.)El.Transm.,Ry.&Gas
Grays Harbor Ry. & Lt. Co., Aber¬ Tucson (Ariz.) Gas, Elec.
Light Sc
deen, Wash. (V. 86, p. 420).
Power Co
Hobart (Okla.) Electric Co.
Tucson (Ariz.) Rapid Transit Co.
The entire capital stock and all the
underlying bonds of all of the above
19 companies, except the $1,200,000 pref. stock and
$1,873,500 1st lien
bonds of the Central Arkansas Ry. Sc Lt.
Corp.: $750,000 preferred stock
and $1,885,500 bonds of the Springfield Ry. Sc Lt. Co. and
$100 par value
of bonds and $86,050 stock of Tucson
366
Rap. Tr., have been acquired.
description of properties in V. 90, p. 14907
^
Tucson
Rapid Transit Co.—See New Franchise" In V. 99, p. 1912.
Fl
In the early part of 1913 sold the Montrose
(Colo.) Elec. Lt. & Power Co.
In Dec. 1913 $725,000 10-year gold notes were issued
__
.
.
(auth., $10,000,000,
below) carrying an equal amount of common stock option warrants
entitling holders to obtain such stock at par any time prior to Dec. 1 1923.
See also V. 97. p. 1583, 1822.
In June 1914 a further $715,000 of these
jee
notes were issued at 6%.
STOCK AND BONDS—
Date.
Common $5,500',000 ($100)
Pref $5,500.000 6% cum ($100)
First lien
Interest.
Outstanding.
$4,750,000
Q-M
Maturity.
See text
30,0001
5 M-S
$50,000.0001 1912
4,013,500 Mar 1 1942
gold ($500 & $1,000)
-v°* Columbia Trust Co., N. Y., trustee.
Convertible debentures $1,1912
6 M-S
1,500.000 Mar 1 1922
500,000
Brooklyn Tr. Co., Brooklyn, N. Y., trustee.
10-year gold notes, $10,000,1913
6%
715.000 Dec 1 1923
000
1913
7%
7?5,000 Dec 1 1923
Columbia Trust Co.. N.'Y., trustee.
Bonds.—Of the remaining 1st lien sink. fd. bonds, $1,666,667 are reserved
for conversion of debs, and $43,379,333 are for impts.. betterments and ac¬
quisitions under conservative restrictions. $605,500 retired by sk. fd.
Red.
as a whole but not in part at 102 and int.
Annual sk. fd. of 1H % of bonds
out Mar. 1 1913 to Mar. 1 1923: 2% 1923 to 1933: 2X% 1933 to maturity.
Payments for redemption of bonds If purchasable at or below 102 and int.,
otherwise to be invested in new property subj. to the mtge. See V. 94 p.910,
Debentures are con v. at 90 into 1st lien bonds after Mar. 1 1913, and
559.
more than 5 days before debentures have been called at
par, provided consol.
net earning, excl. Springfield, exceed 2X times int. on 1st M. out and
Issuable against conversion.
Red. as a whole but not in part on any Int.
date at par and int. on 6 weeks' notice, and. if
presented for exchange for
first lien bonds, may be taken
Conv up to and
up at 101 and int. In c
In cash.
Incl. 6th day preceding date fixed for redemption.
fixed for
V. 96, p. 284.
The
notes of 1913 are redeemable at 105 an 30 days' notice until June 1 1921:
thereafter at par and int.
V. 97. p. 1822. 158H.
.
Dividends.—On
pref.—1M%—paid guar, from Sept. 1910 to and lnclud
Div.payments since have been deferred (V. 99, p. 1673)companies after elimination of inter-com
pany earnings (excluding dep:reciation).
Calendar
Gross
Net
Int. &
Cent.Ark.Ry. Spr.Ry. Balance,
Years—
S: Lt. Pf.Div.
Disc't.
Div.
Earnings.
Earnings.
Surplus.
1919
>,780 $680,811 (7%)$84,000 $47,568 $423,401
$3,897,518 $1,235,
1918-.--- 3,497,231
1,052,309 .663,262 (7%) 84,000
39,939
265,008
1917
2,867,310
856,846
594,454 (7%) 84,000
39,290
139,102
Ing Sept. 1914.
EARNINGS.—Of controlled
ROAD.—Controlled properties operate 74
miles of track.
OFFICERS.—Pres., Edwin N. Sanderson: V.-Ps., Francis Blossom and
Craig Colgate; V.-P. & Gen. Mer., C. H. Nichols; Treas. & Sec., J. Dunhill; Asst. Sec. & Asst. Treas., Richmond Talbot.—V. 104, p. 1387, 2452;
V. 106, p. 1900; V. 107, p. 696, 1672, 1747; V. 108, p. 74, 1390; V. 110,
p 1088.
(1) Central Arkansas Railway & Light Corporation.
was taken over by Federal Light & Traction Co., which
On Mar. 1 1913
owns
entire
stock.
common
ORGANIZATION.—Incorp. Feb. 19 1913 in Virginia, taking over the
Ry. and other properties.
Through Its constituent com¬
panies does entire water, street railway, gas, electric light and power busi¬
ness in
Hot Springs, Ark., and vicinity.
Has contract with city of Hot
Springs for street lighting.
Franchises.—Street railway expires in 1954, and exclusive as to streets
Hot Springs St.
occupied until that date.
tric light and
Also
has
natural gas
Fare
Water, exclusive and expires Nov. 1931.
Elec¬
expires 1933.
Artificial gas, unlimited as to time.
franchise, expiring in 1931.
Should supply of
fall, company will revert to artificial gas franchise
power,
natural
gas
Increase.—In
Dec.
1917
the
Hot
Springs
Street
Ry.
Co.
dis¬
continued the sale of 6 tickets for 25 cents and books of 25 tickets for $1
and adopted a straight 5-cent fare. V. 106, p. 1036. In Sept. 1919 the same
co.
filed
a
tariff with the Arkansas
Corp. Comm. increasing fares to 6 cents,
effective Sept. 23 1919. V. 109. p. 981.
Decrease in Stock.—In May 1917, shareholders voted to decrease the auth
capital stock from $7,000,000 com. and
common and $1,500,000 7% pref. stock.
STOCK AND BONDS—
Date.
$3,500,000
pref.
to
$2,500,000
fund.
All bonds subject to call on any interest date at 102.
Dividends.—First div. on pref.—1 X %—paid June 2 1913; 1 X % has been
quar. since to and incl. Sept. 1920.
paid
EARNINGS.—Combined earnings of constituent cos. for calendar year
1919, gross, $665,618: in 1918. gross, $555,179; in 1917, gross, $545,456 in
1916, gross, $494,109ROAL).—Operates 13 miles of track; 60-lb. rails.
39 passenger cars.
OFFICERS.—Pres., E. N. Sanderson; V.-P. Sc Treas., J. Dunhill; Sec..
E. K. H. D'Aeth.—V. 96. p. 789; V. 104. p. 2451.
(2)
Springfield
(Mo.)
Railway & Light Co.
1 1911 entire stock was acquired by Fed. Light Sc Trac. Co.
In Maine In Nov. 1905.
Owns
entire
capital stocks of the Springfield Traction Co. and the Springfield Gas Sc Elec¬
tric Co.
The Kickapoo Transit Co. is also part of system;
Electric Light
franchise perpetual; gas franchise expires in 1929; street railway franchise
in 1944 and steam heating franchise In 1936.
Does entire traction, gas.
electric light and power business of city.
Also does steam heating.
In
1915 entered into a new 5-year street-lighting contract with city.
ORGANIZATION.—Incorp.
P# STOCK AND BONDS—
Common stock $1,600,000
Date.
Interest.
Preferred $2,000,000 cum.
1st lien mtge $7,000,000
7 Q-J
gold?
Outstanding.
Maturity
$1,100,000
750.000 Oct.'20, IX
1,885,500 May 1 1926
1911
5 g M-N
($500 & $1,000) sink fd--c* I Guaranty Trust
o.. NY
trustee.
3-year gold notes
1918
7%
C
287,000
Feb. 1921
Preferred stock is pref. as to dividends and assets and is red. at 115 ana
.
accrued dividend.
Bonds.—$4,656,000 1st lien bonds are reserved for additions and impts.
Annual cumulative sinking fund
began Mar. 1 1913 and provides for 25% of all bonds issued.
$458,500 in
at 80% of cost under certain restrictions.
sink. fd.
Int. day.
Sub. to call
Int. is
pay.
Dividends.—Initial
as a
whole
or
for sink, fund at 102 and Int.
in New York, Boston or Chicago.
div.—l$i%—-on pref.
stock paid
on
any
V. 92, p. 1566.
April 1
1915;
since.
EARNINGS.—For 12 months ending Dec. 31;
Calendar Years—
Gross.
Net, aft Tax.
same rate
auar.
Supplies electricity
to
mines and cities of Las Auimas
Huer-
ana
counties. Colo.
Controls the entire gas, electrlp light and street rail¬
business of Trinidad, Colo., and operatesan interurban rail way connect¬
ing Trinidad with Thomasville, Cokedale, Jerryville, Piedmont, Jansen,
way
Starkville and
Sopris.
Gas and electric franchises run from 16
Street railway franchises run for 50 years from 1903.
perpetuity.
Power Contract.—Has
a
contract
to
Pacific Coal Co.
years
to
supply the St. Louis Rocky Mtn. A
V. 99. p. 1912.
with $60,000 worth of power annually.
Also has a contract with the Colorado Fuel & Iron
Co.
ROAD.—Owns and operates 19.4 miles.
Power plant
capacity, 16,250
Rail, 60-lb. T; standard gauge.—V. 93, p. 409; V. 99. P. 1912.
k.v.a.
REPUBLIC RAILWAY & LIGHT CO.—A holding company.
ORGANIZATION.—Incorp. in New Jersev on June 27 1911.
This
company owns practically all of the common stock of the
Elec. Co., formerly the Mahoning & Shenango Ry. &
Pennsylvania-Ohio
Light Co., and through
it
supplies electric light, power and gas to Youngstoswn and other communi¬
ties in the Mahoning and Shenango River
vajleys, in Eastern Ohio and West¬
ern Pennsylvania, midway between Pittsburgh and
Cleveland.
The Penn¬
sylvania-Ohio Electric Co. also owns urban and interurban railway lines in
the same locality.
Also controls the Republic Engineers, Inc.
In Jan. 1920 the co. issued $1,444,000
3-yr. 7% conv. notes to provide
for the retirement of a like amount of 2-j'r. 6% notes due Jan. 15 1920.
V. 110, p. 168.
1920
8TOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$6,206,000
See text
5,191,400 Apr'20, 1H
1920
1,318,000 Jan 15 1923
($1.000) g guar p & i_.ctff\Int. at First Trust & Sav. Co., Cleve., trust.
Stock.—Common stock is held in voting trust
Notes.—The 3-year notes are convertible at option of holder into Penn¬
sylvania-Ohio Elec. Co. 7% .cum. pref. stock, par for par. $126,000 have
been converted to date.
Are guaranteed, principal and
interest, by en¬
dorsement of Pennsylvania-Ohio Electric Co. and are secured by de¬
posit of Pennsylvania-Ohio Electric Co. 7% cum. pref. stpek equal in
par value to the amount of notes outstanding.
As notes are called an equal
amount of pref. stock will be released.
Notes are also secured bv a deposit
of all the outstanding com. stock of the Pennsylvania-Ohio Elec. Co,
Sink. Fund.—Provides for the retirement of $30,150 of these notes each
month beginning April 1 1920.
Are red. on 30 days' notice at 100X and
int.
Pennsylvania 4-mill tax refunded; also further Ohio income tax not
exceeding 4% upon the int.
V. 110, p. 168.
Dividends.—On pref. 1 %% quar. was paid from organization to and incl.
April 1920.
No action was taken on the June 1920 dividend.
V. 110, p.
2568.
Quarterly divs. on com. of 1%, paid from Jan. 1917 to and incl.
J illy !018
-4.1918 dividend omitted.
V. 107, p. 1193
$7,500,000
($100)
Pf 6% cum $10,000,000 ($100)
Convertible notes $1,444,000/
Q-J 15
7 g J-J 15
REPORT,.—Consolidated income account of subsidiary
items eliminated) (1919 report in V. 110, p.
Gross
Net (after
Other
Calendar
(inter-co.
cos.
1743):
Interest,
Pref.Div. Balance,
Year—
Earnings.
Taxes).
Income.
&r.
(6%).
for Com.
$6,259,612 $1,517,644 $258,869 $1,368,071 $311,484 sur$96,958
1918
5.548,046
1,411,128
115,581
1.258,504
311,484
def.43,280
Latest Earnings.—For 6 raos. end. .Tune 30:
$7,212,942 $1,758,555 $161,201 $1,420,045
sur$499,710
5,752,758
1,341,267
248,949
1,330,283
sur259,933
Passengers carried in 1919, 57,258,916, against 54,791,046 in 1918.
PROPERTY. &c.—See Pennsylvania-Ohio Elec. Co. below.
EXECUTIVE COMMITTEE.—Anson W. Burchard, F. L. Dame. R. P.
Stevens. Robert Lindsay and Harrison Williams.
OFFICERS.—Pres., Harrison Williams; V.-P., R. P. Stevens; V.-P. Sc
Sec., Wm. M. Coleman; Treas., L. J. Hart; Asst. Sec. & Asst. Treas., L. E.
Kilmarx.—V. 107, p. 1838, 2229, 2477; V. 108, p. 1609, 2023; V. 109, p.
578, 1180; V. 110, p. 168, 262, 1743, 2568; V. Ill, p. 693; V. Ill, p. 1084.
PENNSYLVANIA-OHIO
(1)
ELECTRIC
CO.—A
subsidiary
of
the
Republic Ry. & Lignt Co.—(See Map, page 90.)
ORGANIZATION.—Incorp. in Ohio on Aug. 20 1917.
Was known as
the Mahoning & Shenango Railway & Light Co., but name changed to
present title early in 1920.
Has ownership or control of the following
properties*
The New Castle Electric Co.
Pennsylvania Power Co.
New Castle Electric St. Ry. Co.
Sharon & New Castle Ry. Co.,
The New Castle & Lowell Ry. Co.
New Castle & Lowell Realty Co.
Sharon & Newcastle St. Ry. Co., Pa.
New Castle & Mahon. St. Ry. Co.
New Castle Traction Co.
Ohio.
Shenango Valley Electric Light Co.
Zelienopie Light & Power Co.
Mahoning County Light Co.
Youngstown Municipal Ity. Co.
Penna. & Mahoning Valley Ry. Co.
Also controls the Idora Park Amusement
Co.
Merger of Subsidiaries.—During 1914 steps were taken to consolidate as
of the properties as possible to reduce expenses, facilitate operation
and improve conditions for refinancing.
The co. then known as the Ma¬
honing & Shenango Ry. & Lt. Co.. absorbed the Sharon & New Castle
Railways Co., Youngston-Sbaron Ry. & Lt. Co., Sharon & Wheatland St.
Ry., Valley St. Ry. and Wheatland St. Ry.
The Youngston & Sharon
St. Ry. absorbed the Youngstown Consol. Gas & El. Co.
In 1915 the
many
Int., &c.
Bal., Surp.
$939,293
$330,477
$128,929
$201,548
1918
781,470
240,312
129.331
110.981
ROAD.—Operates 23 miles of track; 49 pass, cars and 11 work cars; 60,
70 & 80-lb. T rails.
Power station capacity, 3.250 k.w
Also has contract
with Ozark Power & Water Co. for purchase of 2,875 k.w.—V. 105, p. 2367;
V. 107, p. 1748.
(3) Trinidad (Colo.) Electric Transmission, Ry. Sc Gas Co.
Federal Light Sc Traction Co. owns all the $3,000,300 outstanding
and the $3,211,000 bonds outstanding.
Val. So.
East Ry.. the Poland
St. Ry., the Youngstown Park & Falls St.
Youngstown & Sharon St. Ry.
V. 104, p. 2118.
The Sharpswas merged with the Shenango Valley Elec. Light Co.
and a number of other borough companies around Sharon.
In 1918 the
Youngstown & Niles Ry. Co. was absorbed.
Guarantees prin. and int.
by endorsement the Republic Ry. & Lt. Co. 3-yr. 7% conv. notes due Jan.
Rv. and the
ville Elec. Lt. Co.
15
1923.
Franchises.—Practically
all the Pennsylvania franchises
stock
ORGANIZATION.—Incorp. in Colorado on Aug. 7 1911 as successor
to the Colo. Ry., Lt. 8c Pow. Co.. sold at foreclosure Aug. 2 1911.
V. 93.
are
perpetual.
Railway franchises in Youngstown expire 1944.
The most Important inter¬
urban franchises In Ohio expire from 1945 to 1950 and Ohio lighting and
power franchises in 1937 and 1942
Operation at Cost.—Effective Jan. 16 1919, the city of Youngstown
granted the co a street railway franchise for 25 years which balls for serviceat-cost and a 7% return on an agreed valuation.
The fare fixed by this
franchise is 5 cents with a 1-cent charge for transfers, provision being made
for higher and lower schedules, these being based on the condition of a stab¬
ilizing fund of $100,000.
V. 108, p. 268, 378* V. 109, p. 72. 173.
Com¬
pare V. 107, p. 1004.
In July 1919 similar franchises for 25 years were
granted by the cities of East Youngstown and Struthers. Ohio.
In Feb.
1920 the co. obtained new franchises in Niles and Warren under which
fares were raised from 5 to 10 cents with tickets at 7 for 50 cents.
These
rates are to continue for 3 years after which time rates will be decided on a
service-at-cost basis.
V. 110. p. 562; V. 109. p. 173.
A similar franchise
has been granted by Girard. Ohio.
Fares.—Under the above service-at-cost plan fares In Youngstown were
increased from 6 to 7 cents, with a 1-cent charge for transfers, effective
Aug. 1 1919.
V. 109. p. 578.
On Jan. 1 1920 fares in Youngstown were
increased from 7 to 8 cents, with a 1-cent transfer charge.
V. 110. p. 262.
On Aug. 28 1919 fares between Youngstown and Girard were increased from
5 to 8 cents and on Jan. 1 1920 to 9 cents.
In March 1920 was auth. by the
Penna.
P.
U.
Comm. to increase fares in New Castle from 6 to 7 cents.
Effective July 20 1920 fares between Youngstown(and
raised to 50 cents and between Youngstown [and
V. Ill, p. 589.
*1
In the latter part of 1918 the co. brought out $550,000 1st & Consol.'M.
bonds series "B," bearing 6% int., and in 1919 $217,000 additional.
V. 108, p. 268.
Refinancing Plan, Ac.—The stockholders on Oct. 23 1920,. approvedTthe
refinancing plan outlined in V. Ill, p. 1661.
For offering of $13,000,000
1st & Ref. M. bonds of the Pennsylvania-Ohio Power Sc Light Co. issued to
refund the outstanding Mah. & S. R. & L. 1st % cons. 5s due Nov. I 1920
V.
110,
New
p.
1188.
Castle.
Pa.,
were
Lowellviile to 20 cents.
as per
plan
«8STOOK
see
"Qhronicle'^ °fjOet.,30 J 920
m
aWoNif)S— """Date?nterest7~Outstanding,
Pref 7% cum$10,000,000 ($100)
Mah Sc S R Sc L 1st & cons M (
1915
i"
»
Maturity
$10,628,600
Common $11,000,000 ($100)
1919
409.
91
Interest.
Outstanding.
Maturity.
Common $2,500.000
$2,500,000
Pref cum $1.500.000
7 Q-M
1,200,000
Sept'20,1%
First lien $7,000,000 ($1,000. j 1913
Mar 1 1928
1,873,500
5 g M-S
$500 and $100) gold
c*llnt. at Columbia Trust Co., N. Y., trustee.
Preferred stock is redeemable at 110 and accrued div
Dividends are guar,
by Federal Lt. & Trac. Co., by endorsement.
Additional pref. stock may
be issued under conservative restrictions.
V. 96, p. 715.
bonds.—Additional bonds may be issued for 80% of cost of additions,
extens. and impts. when net earnings are double the Int. charges on bonds
out, incl. those proposed to be issued.
Sink. fund, which began Jan. 1915.
will
retire at least 20% of entire issue by maturity. $290,500 in sinking
As of Mar.
.
P.
ano
Common
2,500,000
f M
s
RAILWAYS
Q-M
5 g M-N
5.580,200
------
11.200,000 Nov 1 1920
c*r* .tf I Guaranty Trust Co.. New York, trustee.
Series "B"
1915
6%
767,000 Nov 1 1920
Pa Sc M V 1st and refunding!
1902
5 g M-N
1,559.000 May 1 1922
mortgage $2,750,000 gold]Int. at Harris, Forbes Sc Co., New York.
(Si 000)
c*.tf
U. S. Mtge. & Trust Co., N. Y.,trust**.
New Castle Traction 1st mtge
1897
5 g M-N
500.000 May 1 1927
$500,000 gold ($1.000).c^tf lint, at Union Trust Co.. Pittsburgh, trustee.
N C Elec Co 1st M $200.000 ( 1897
5 g M-S
M^r.1 l? 7
gold
tf lint, at Union Trust Co.. Pittsburgh, trustee.
Y-8 Ry & Lt 1st M $2,500,-f 1900
5 g J-J
1.843.000 Jan 1 1931
000 ($1,000) golds
lint, at New York Trust Co., N. Y., trustee.
$20,000,000 gold
92
ELECTRIC RAILWAYS
STOCK AND BONDS—
Dale.
8bar A New Castle 1st mtge/
1901
$500,000 gold ($1,000) s fj
guar, prln A Jnfc
c*.tf(
Mahoning Valley S E first f
mortgage
guar o
$227,000
Cftstl©
$200,000/
A I
A Light Co.
170.000 June 1 1923
stock is owned by the Republic Rail¬
Js
pledged under the Republic Ry. & Lt. 3-yr. 7% conv. notes due Jan. 15
1923 into which said notes are convertible at the option of the holder.
Bonds.—Of the $20,000,000 1st and cons. 5s, $4,827,000 are reserved to
retire underlying liens and remainder for 80% of cost of additions,
impts.,
Ac.", under conservative restrictions.
Denom., c*, $1,000 and $500; r*,
$1,000 and higher.
Callable as whole, but not in part, at 101 and int. on
60 days' notice.
Tax-exempt in Pa.
V. 101, p. 1713.
Series "B" bear
6% interest.
V. 108, p. 268.
Of the Pennsylvania & Mahoning Valley
Ry. bonds, $750,000 are reserved to retire prior liens; a sinking fund of
$50,000 per annum began Nov. 30 1911.
Bonds purchased for sinking fund
are canceled,
$141,000 have been purchased.
The Youngstown-Sharon
1st mtge. bonds can be called at 115 and int. on
any int. date; $597,000 have
been acquired by sink. fund.
For lien covered by these bonds, see "Street
Railway" Section of June 24 1905.
$123,000 Sharon & New Castle bonds
have been acquired
by sinking fund.
For lien of these bonds see "Street
Railway" Section of June 24 1905.
The Poland St. Ry. bonds are guar.,
prin. and int., by the Rep. Ry. A Lt. Co.
Redeemable at 100 and int.
on 30 days' notice.
EARNINGS.—See Republic Railway A Light Co. above.
PROPERTY, Ac.—Supplies, through Its subsidiaries, electric light
power and gas to Youngstown and other communities in the Mahoning and
Shenango River valleys, in Eastern Ohio and Western Pennsylvania, ml«way between Pittsburgh and Cleveland, and owns
178.03 miles of urban
and interurban railway lines in the same locality, of which about 40 mile*
on private right of way.
Has contracts for lighting with numerous cities
Three elec. light and
power plants,
present capacity 58,250 k. w. also
artificial gas plant in Youngstown; 3 gas holders.
H
-ar
""""TT"mm—T
v
i
'
!
OFFICERS.—Pres., R. P. Stevens; V.-P. & Gen. Mgr., G. T. Seeley;
V.-Ps., F. L. Dame and Randall Montgomery; Sec., Wm. M. Coleman;
Treas.. E. G. Dunlap; Aud., F. E, Wilkin.—V.
589, 693. 1661.
(THE)
UNITED
OAS
&
ELECTRIC
110, p. 1643; V. Ill, p.
CORPORATION.,,.
__
ORGANIZATION.—Incorp. in Connecticut
on
June 6 1912
as a consoli¬
dation of Susquehanna Ry., Lt. A Pow. Co. and United Gas A Elec.
Corp.
(Incorp. Mar. 8 1912.)
Owns entire common stocks of the following com¬
panies (V. 94, p. 1388, 1696.
Compare also V. 97, p. 726.)
United Gas & Elec. Co. of N. J.
Lancaster (Pa.) Co. Ry. A Lt. Co.
Consumers
Electric Light A Power
Co., New Orleans.
Houston (Tex.) Gas A Fuel Co.
Union Gas A Electric Co. of Bloom-
lngton. 111.
Gretna (La.) Lt. A Pow. Co., Inc.
United
Gas A Elec. Eng. Corp.
Harrisburg (Pa.) Lt. A Power Co.
Houston Heights
(Tex.) Water &
Light Association.
Owns 50.05 of the
(and through it the Central River
Coal A Supply Co.)
stock of the
com.
Utilities
Oil
A
Refining Co., and
through it the United Oklahoma Oil A Gas Corp.
United Qas & Electric Engineering Corp.—This co. was organized in 1913
for the-purpose of acting as
consulting, contracting and operating engineers
and as purchasing agents for the U. G. A E. Corp.
In Feb. 1916 $5,000,000 additional
6% coll. trust sk. fd. bonds were
Issued and offered at 97 and int. to the holders of the $4,500,000
3-year 6%
notes of 1915 (called for
payment April 1 1916) In exchange for their hold¬
ings at 101H and Int., the difference being adjusted In cash.
V. 102, p. 801
STOCK AND BONDS—
Common $20,000,000 ($100)
1st pref $25.000.000($100)6%1
cum
2d
to
Date.
Interest.
Outstanding.
$12,250,820
Q-J
Maturity.
9,284.800
See text
11.663.500
Collateral trust sink fd gold/ 1915
6 g A-0
9,300,000 Apr 1 1945
bonds Ser
"A"$15.000.000/Int. at Guaranty Tr. Co.. N. Y.. Trustee.
...
and
Penn. Co. for Ins.on
Pur money ctfs of indebtedness
7%
L A Gr.An
1,925,800
,f'h
Bonds.—$721,000 coll.
trust bonds are in treasury (of which $615,000
collateral security for $543,000 notes payable,
remaining
be issued for 75% of the cost of acquisitions under certain re¬
strictions. $1,053,000 of bonds reports outst'g are owned
by a subsidiary and
deposited as part coll. for Its bonds.
The coll. trust bonds are secured by
com. and pref. stocks of the
subsidiary cos. having an aggregate par value
pledged
$5,000,000
of
as
may
$32,262,550.
Red. as a whole or in part at 10214 and int. on 4 weekH
A cumulative
sinking fund which began July 1 1918 will retire
70% of the bonds at maturity.
V. 100, p. 2091.
Tax refund in I'a.
For description of Purchase
Money ctfs. of indebtedness, see under Utilities
notice.
over
Oil
A
for details of which
Refining Co. below.
see
V. 109.
1528.
p.
The $450,000 2-year 7% notes of the Richmond L., H. A Power Co.
issued in exchange ($ for $, with a cash bonus of 3 %) for a like amount
of 5-year 6% notes or that co. which matured on March 1 1919.
In March 1919 holders of the Col. Springs Lt., Ht. A Power 1st A ReG
M. 5s due Aug
1 1920, approved an extension for 1 year of the $300,000
1st M. 5s due April 1 1919 at 7%.
V. 108. p. 1277.
were
Owing to the uncertainty regarding the co's. franchise and the fact that
the co's. entire bonded debt matures in 1920. the following committee was
formed to protect the interests of the holders of securities of the Colorado
Springs Lt. A Power Co.
General Protective Committee.—J. A. Cauldwell, E. G. Connette, E. C.
Delafield. T. A. Johnson, John H. Mason, Arthur V. Motron, Jonathan
O. Neff, Geo. K. Reilly: Secy., L.'II. Cubberley, 306 Chestnut St., Phila.,
Pa.
Depositories:
(a) 1st M. 5% 20-yr. bonds of Colorado Springs Light
A Power Co., as extended at 7%, at Franklin Trust
Co., N. Y. City.
(5)
1st M. 5% 20-yr. bonds of Colorado Springs Electric Co., at Pennsyl¬
on L. A Grnt. Ann., Phila.
(c) 1st A Ref. M, 10-yr.
bonds of Colorado Springs Light, Heat A Power Co. at Commercial
Trust Co., Philadelphia,
(d) and (e) non-cum. 6% pref. stock and the
vania Co. for Insce.
5%
com. stock of Colorado
Springs Light, Heat A Power Co. at N. Y. Trust
Co., N. Y. City.
Deposits have been called for.
For circular of committee
see V. 110. p. 1418.
Practically all of the $350,000 Lockport Gas A Elec. 1st M. 5s due Feb. 1
1920 were bought in through the medium of bank loans.
The United Gas A Elec. Co. as guarantor of the $350,000 Lock. Lt., Ht. A
Power Gen. M. 7s due Jan. 16 1920 has purchased and is now
holding same
as a past due obligation.
The Lockport Lt., Ht. A Power Co. has applied
to the N.
Y. P. S. Comm. for auth. to issue certain securities for the
pur¬
taking care of its matured obligations.
Neither the Col. Spgs. L., H. A P. 1st M. 5s due Aug. 1 1920, the Col.
Spgs. Elec. Co. 1st M. 5s due Apr. 20 1920, nor the Col. Spgs. Lt. A Pow.
1st M. 7s due Apr. 1 1920, had been retired
up to time of going to press.
Int. at the rate of 7%, however, was being paid on the two latter issues.
pose of
STOCK AND BONDS—
Date.
Stock common $4,000,000
Stock preferred $1,500,000..First mtge $3,000,000
and $1,000) gold
($500)7
1902
cntf [Interest
Securities of controlled gas and electric
CltG A Fuel IstM $500.000 tf 1902
Citizens G A F 1st ret M $2,-/
000,000($ 100,$500A$ 1.000)
red as a whole@105Aint.tf
Col Spgs El Co IstM ($1,000,000) red at 110 A int.c*tf
Ool Spgs Lt A Pow 1st mtge
$300,000 ($500A$ 1.000) ctf
Ool Springs L H A Power 1st
A ref mtge $3,500,000 gold($100. $500 A $l,000)_c*tf
Int.
at
1.195.800
companies—
5 A-O
283,000
York
quar. to and incl.
July 1917; Oct.. 1%.
REPORT.—Calendar years:
Income for
*Apprec'n
Calendar
t
nY*ar-
J^r-
1910
1,417,832
This
includes
Preferred
Charges.
$109,998
$776,469
751,750
738,820
841,412
1917
Int., &c.
of Prop. Ac.
$988,884
1918
(V. 105, p.
\H%'. same
1210.) None since.
.106,225
rate
Balance.
Surplus
$322,413
89,662
367,421
Dividendi.
...
....
417,816
the
equity in the net earnings from subsidiary corpo¬
rations, whether actually received in the form of divs. or not.' The
amount
added to
from the
surplus account of sub.
cos. not declared as divs. was
$223,879;
last-named amt. and the previous accumulations
of surplus of
cos., there were charged
during the year various amts. on acc't of
extraordinary expenditures not directly applicable to the
operations for
the year, of which the
proportion corresponding to the holdings of this cor
poration Is $98,534.
*ub.
companies,
-7-
^
fits
in 1917 pro¬
from dealings in securities held,
including $140,000 appreciation on
holdings of a subsid. co. still owned by the corporation, less
sundry charges.
EARNINGS.—For
12
mos.
ended
Dec.
31
1919:
sub.
Balance of
earns,
of
cos., after
newals and
deducting fixed chges., $1,850,961; deduct reserve for re¬
replacements, $432,283, and earns, applicable to stock of sub.
cos. owned
by public, $363,100; bal., $1,055,578; oth. inc., $242,075; total,
$1,297,653; int. on U. G.A E. Corp. bonds, $558,000; int. on U.G.A
E.Corp.
ctfs. of indebt.. $134,806; amort, of debt
disc.. $58,004; bal., $546,843.
Subsidiary
Calendar
Year—
1919.
1918
Gross
Earnings.
$10,473,555
8,991,567
Companies.
Net (after
Mdint.,Ac.)
$4,343,269
3,591,707
Bal.
for
Charges.
Renew.. &c.
$1,838,508
1.792,019
$1,852,625
1,217,907
OFFICERS.—Chairman of Board, Geo. Bullock: Pres., E. G. Connette.
V.-Ps.. Francis T. Homer and Tracy A. Johnson; Treas. A
Compt., A. L.
Linn Jr.; Sec. A Asst. Treas., J. A. McKenna: Asst. Sec.. A. L. Linn
Jr.
—V. 107, p. 187, 503, 1102, 1386. 2104, 2478: V.
108, p. 380, 1827. 2023,
2242; V. 109, p. 484, 1701, 2440; V. 110, p. 2200; V. Ill, p. 598, 1662.
(1)
United
Gas &
Electric Co.
ORGANIZATION.—Incorp. In Dec. 1901 in New Jersey.
AH the com
monTstock was acquired by the Susquehanna Ry. Lt. A Pow. Co.. which
on June 6 1912 was consolidated with United Gas A Electric
Corp.
Owns
and controls the following gas and electric properties:
Co., New
11922
1960
1
York,
'
1.000,000 Apr 20 1920
Co., New York, Trustee.
1899
7 A-O
300.000 April 1 1920,
Int. at New York Trust Co., N. YT, Trustee.
1910
5 g F-A
1,284,000 Aug
11920
'
Interest at New York Trust Co., Trustee.
M. N. Buckner is also Trustee.
5 M-S
675.000
Sept
1 1923
at New York Trust Co., N. Y., Trustee.
/ 1908
5 J-J
450.000 Jan
1 1938
/ 1918
7 g J-J16
350,000 Past due
A $1,000)
guar
ctff\Equitable Trust Co., N. Y., Trustee.
ff\Equitable
1
Rich L H A P 1st M $3,000,-1 _1914
,-\ 1914
5 M-S
188.300 Mar 1 1939
900(1100.$500A$1.000)cArtf}Int. at New York Trust Co.. N. Y., Trustee.
red @ 105 A Int
/
Demas Deming Is also Trustee.
Derm
Richmond LHAP guar
notes/ 1919
7%
440,000 Mar. 1 1921
$450,000 ($1.000)
_tf\
.
TY-BOo 1stArefM
$7,500,000/ 1910
5 g J-J
1.986,300 July 11060
g($100,$500A$l,000)c*ArtflInt. at Girard Tr. Co., Phila., Trustee.
E 1st cons M
S3.-) 1905
5 g J-J
3.000.000 Jan
1 1955
000,000 g ($1,000)..c*Artf I Int. at Fidelity Trust Co.. Phila.. Trustee.
W-B G A
Of the bonds listed above, $428,700 are In
the treasury.
Bonds.—Citizens'
Gas A Fuel first mortgage of 1902 is a closed mort¬
Of Citizens' Gas A Fuel first and refunding mortgage bonds. $283,000 are reserv<xi to retire underlying bonds and $1,148,500 are for ac¬
quisitions. extensions, improvements. Ac., aud can only bo issued for 85% of
cost of same.
Demas Deming is also trustee.
$1,300,000 of Colo. Spge.
L.. H. A P. Co. 1st A ref. bonds reserved to retire underlying bonds and
gage.
$883,000
are
deemable
at
Int
for additions, extensions, Ac., at 85% of cost thereof.
and int. on Feb. 1 1917 aDd at 102H and int. on
105
day thereafter.
V.
91,
460, 1097.
Re¬
any
Leavenworth
Light, Heat A
are redeemable at 105 and int. on
any int. date, $326,000 bonds reserved for acquisitions and Impts. at 85% of cost thereof.
Lockport Light, Ht. A Pow. 1st ref. bonds are redeemable on any int. date
p.
Power 1st M. bonds
at par
and Int.
$300,000 reserved to retire
a
like amount of 1st M. bonds.
The Lockport L., H. A P. gen. mtge. bonds are secured
by a third lien on the
property, together with all the stock of the International Power A Transm.
H. A P. 7%
Electric Co.
A
Elec. Co., which
p.
485.
The Rich.
notes of 1919 are guar., prin. A int.. by the United Gas
V.
108. p. 789.
Of the Wilkes-Barre Co, first and
refunding mortgage $3,000,000 are reserved to retire Wilkes-Barre Gas A
Electric bonds,
$1,989,500 for extensions, impts., Ac., and $524,200
are in treasury.
$1,537,000 of the bonds out are guar., p. A i., by endorse¬
ment by
Susq. Ry. Lt. A Pow. Co.
Subj. to call on any Int. day at 105
and Int.
V. 91. p. 658.
Wilkes-Barre Gas A Elec. bonds are subj. to call
at
110 and Int.
on
3 months' notice.
\
Dividends.—On pref. 5% has been regularly paid since Incorp.
On com..
1905, 1906 and 1907, 4%: 1908 and 1909. 2%: 1910. 4%: 1911. 4%;
1912, 4%; 1913, 4M%: 1914, 4K%: 1915. 4%: 1916. 7%: 1917. 4%: in
In
1918, June, H%.
In 1919, March, 1%; Dec.,
of 1%.
In 1920, Mar..
y2 of 1%; Sept., H of 1%.
EARNINGS.—Year end. Dec. 31 1919, earnings (less expenses), $258,030; bond int., $19,869; pref. div., $59,790; surplus, $178,371.—V. 93. p.
1783; V. 101, p. 48; V. 107, p. 1288: V. 108. p. 487, 789.
(2)
Harrisburg Light & Power Co.
ORGANIZATION.—Incorp. July 22 1912 to take over the Harrisburg
Light, Ht. A Pow. Oo. and Paxtang Elec. Co., whose franchises are per¬
petual.
In Feb. 1913 the Harrisburg Lt. A Pow. Co. purchased the Har¬
risburg Steam. Heat A Pow. Co.
In Aug. 1913 acquired Steelton Lt., Ht.
A Power Co. V. 97, p. 179.
Serves with light and power the city of Har¬
risburg and the adjacent communities of Steelton, Dauphin, Penbrook.
Paxtang and Riverside; also serves the main business section of Harrisburg
with steam heat.
Stock
6% cum. pref..stock.
Corporation.
outstanding, $1,785,000 common, and $1,250,000
All the common owned by the United Gas A Electric
•
*
.
*
In Dec. 1918 issued $215,000 5-year 6% notes to retire
outstanding float¬
ing indebtedness incurred for exts., add'ns and impts. V. 107, p. 2479.
Compare V. 107, p. 608.
BONDS—
Fixed
Taxes.
$652,136
581,781
Jan
Trust
000 ($500 A $1,000)._c*tftint, at New York Tr. Co., N. Y.. Trustee.
A
Instead of s.-a., and paid
Oct
668,500
5 J-J
New
Co. Were purchased at maturity by the United Gas
now holds
them as a past due obligation.
V. 108,
quar.
See text:
Lock LHAP gen mtge ($500
L.
changed div. periods to
Maturity.
July'20,2H
5 g J-J
396,000 Jan
1 1922
at New York Trust Co., Trustee.
TFU8fc06»
1908
1st ref $750,
Outstanding.
—$3,621,000
J-J
1900
5 A-0
New York Trust
000($100,$500A$1.000)c*tf Int.
Lock LHAP
Interest.
1910
Leav L H A P 1st M $1,000,-
See text
Stock.—$168,200 1st pref., $3,087 2d pref. and $16,762 com. stock Is In
treasury.
The 2d pref. stock is to bear cum divs., viz., 2% per annum
In 1914, 3% in 1915,
4% In 1916, 5% in 1917 and 6% thereafter, and will
be entitled to a preference over common In event of
liquidation and subject
In all respects to priority over
present pref. stock.
See V. 97, p. 888.
are
at-eost. plan,
_
Apr 1 '15A7% after/
pref $12,600,000 ($100)
($1,000 and $100)—c*_tf I
A Pow. Co. was sold to the city of
The stock investment In the Altoona Gas Lt. A Fuel Co.
written off, the company having failed to meet its Interest charges Id
1915. due to natural gas competition.
Service-at-Cost Plan.—In Oct. 1919 a citizens' committee recommended
the operation of the Colorado Springs Lt. Ht. A Pow. Co. under a servicewas
The pref. stock has full voting power.
Free of Penn. and
Callable as a whole at 110 & divs.
$1,318 000 pref. stock
irf-
department of the Richmond Lt., Ht.
Richmond. Ind.
94,000
com.
1915 disposed of its holdings of common stock in the Hartford
City Gas Light Co.
V. 101, p. 50.
During 1915 the electric
(Conn.)
'
ntf lUnlon Trust Co. of Pittsburgh, trustee.
Slock.—Practically the entire
way
In July
trustee
5 J-D
1913
(N.Y.) Lt. Ht. A Pow. Oo.
Oolo. Spgs. (Col.) Lt. Ht. A Pow. Co. Richmond (Ind.) Lt. Ht. A Pow. Co.
Leavenworth (Kan.) Lt., H. A P. Co. | Wilkee-Barre (Pa.) Oo.
Also controls the Klmira Water Lt. A RR. Co., which see nnder "Elmlra
N
Y
1931
I
trustee.
Mahoning County Light Co__
Ohio State tax.
Oit. Gas A Fuel Co.,Terre H'te, Ind.lLockport
Maturity
July
Interest at New York Trust Co., New York,
1
($1,000)
Outstanding.
1903
6 J-J
67.000 Jul/ 1 1923
tf/Int. at Lawrence 8avings A Trust Co., New
-
Poland St Ry 1st M
Interest.
6 g J-J
[Vol. 111.
Date.
Interest.
Outstanding.
Maturity.
1899
5 J-J
$1,000,000 July
1924
mortgage
tf\Commonwealth Tr. Co.. Harrisb., Trustee.
Harrisburg L A P 1st A ref M) 1912
5 g F-A
2,490,000 Aug
11952
$10,000,000
g
($100 and/Fidelity Trust Co., Philadelphia, Trustee.
Harrisburg Light Ht A Power/
first
$1.000)
*tfcl
Harrisburg LAP notes $215,-/ 1918
6 g J-Dl
215,000 Dec. 1 1923
000 ($500 A $1,000) g_c*tfl Int. at Commonw. Tr. Co..
Harrisb.. Trus.
Bonds.—Of the Harrisburg Lt. A Pow. 1st A ref. bonds,
$1,000,000 are
reserved for prior liens, $6,594,000 for impts.,
extens., Ac., under certain
restrictions
Red. at 105 and int. on any Int. day.
Notes.—The 5-year notes are limited to an issue of
$215,000.
No new
mtge. or lien (other than purchase money mtge.) may be created without
equally securing these notes.
Red. all or in part on 30 days' notice at
100 and int.
Tax free in Pennsylvania.
EARNINGS.—Year ending Dec. 31
1919, gross, $1,136,948; net, after
taxes, $461,525; charges, $240,399;surplus,$221,126. V. 107,p. 608,2479.
Oct..
ELECTRIC
1920.J
Consumers' Electric Light & Power Co.
(3)
93
RAILWAYS
Bonds
Outstanding.
i
.
Outstanding.
Maturity.
Common $1,000,000
All owned by United Gas & Elec. Corp.
Preferred $500,000 (7% cum).
Q-M
$500,000 Mar,'20.1%
First mtge $2,500,000 gold/ 1911
5 g J-J
1.569.000 Jan
1 1936
($100. $500 and $1,000)_c*\Int. at Columbia Tr. Co., N. Y., Trustee.
STOCK AND BONDS—
Preferred stock
$223,999;
taxes,
Entire
com.
stock
business of
gas
Franchise
runs
Dec.
$568,267;
$140,774.
1919,
31
gross.
$83,225; surplus,
charges,
Houston Qas &
(4>
end.
100%
on or
V. 110, p. 974.
before Sept. 1 1922.
Maturity •
$1,500,000 Mar'18 1%
550,000 Sept '20 1 %
745.000 Sept 1 1932
900,000 Mar 1 1923
Outstanding.
Interest.
Date.
STOCK AND BONDS—
Common $1,500,000
Preferred (7% cum) $550,000.
Ref & Impt M $6.000.000
—
7 Q-J
5 M-S
7 M-S
1912
1905
Houston Gas first mortgage
v
STOCK.
Preferred stock is callable at 110 and dividends.
BONDS.
Additional bonds can be Issued only for 80%
and impts.
of cost of extens.
doqble the interest on bonds,
when annual net earnings are
""..fv.-,
including those to be issued.
EARNINGS.—Cal. year 1919, gross, $780,240; net, aft. taxes, $173,750;
charges, $85,985; surplus, $87.765.—V. 106, p. 818; V. 110, p. 974.
Beaver Oil A G.Co.,Ltd.
Interest.
Common stock $750,000
-
1st pref Stock (7%)
0.000...
1st mtge $750,000 ($1,000)../
1905
.
Fremont Gas. El. Lt. & P—
"KnoxvIUe Gas Co
EARNINGS.—For
Lincoln Gas A Elec. Lt. Co.
•Massillon Elec. & Gas Co.
I'reft rrerj stock.,
Hattiesburg Trac. Co
Montgomery L. A W.P.Co.
Pueblo Gas & Fuel Co
end. Dec. 31 1919, gross, $260,685; net, after
$30,644; balance, $53,507.
Richland Public Serv. Co.
Southw.
(subsequently dissolved) and Danbury A
Bonded Debt
75,000
Atlas
Berea
Pipe Line Co
•Bristol Gas & Electric Co.
Brush
Electric Co
95,000
754,000
.
•Cent Ohio Gas & Elec. Co.
———
7,000
376,000
-
,
....
Buckeye State Gas & Fuel
42,000
...
383,000
—
MecJInaoOas A Fuel Co..
-
—
...
GosJhocton Gas Co
Cities Fuel & Power Co..
-
200.000 " ;
5,008,000
American Pipe Line Co.
Franklin Co. Pipe L. Co
-
....—
—
......
Brockton Gas Fuel Co.
—
Republic L.,H.&P.Co. ' 404.000
Glenwood Nat.G.Co..Ltd
Mfrs. Nat. GasCo.,Ltd.
-
a300,000
a2.000.000
a2.500.000
100.00
99 83
99.865
99.916
a400,000
a 16.000
a80,000
a400,000
al0,000,000
......
a.50,000
<1100,000
100.00
922,000
316,100
al.000.000
alOO.OOO
99.93
5.4
99.978
3,200,000
95.1171
19.23
a3.500.000
1.560.000
99.90
a500.000
550.000
864.000
84.000
999875
a2.000.000
99 9
99 935
a300,000
securities
Preferred stock
550.000
a99,400
a50,000
333,000
O392.600
cos.
cos.
;.
— — —
450,000
2,000,000
Preferred stock
450,000
500,000
3,000.000
.........
Securities held for exch..
.
125,711
«4,500.000
.
4,000,000
Co... 14.825.500
Other sub. co's securities 6,525.000
•Trumbull Pub. Serv. Co. 2,306,100
Acme Power Co
a
Toledo Rys. & Lt.
Utilities Construction Co..
Washita Gas A Fuel Co
Power Co
Western Distributing Co..
W atauga
& Pow. Co.
25CM)0d
250.000
300.000
2,450,000
1004)00
100.000
marked*10.OOO.OOO
376,000
F.Co.
Consul. Cities Lt. P. A Tr.
Co. bds. secur. by pl'geof
99 90
50.00 100.00
99 70
98-833
99.60
81.456
74.6225
a700.000
a350,000
a25,000
a500,000
a300,000
a 175,000
a2,000.000
al ,000,000
Preferred stock
Western Okla. Gas A
.st.k. in cos
—
99.42
a20P 000
Co. 1.362,300
Preferred stock
com
13.876.000
7,739.000
al.500.000
Preferred stock
United Wat., Gas A EI.
Western Light
64.875
100.00
98.00
87.50
99.96
99.95
95.70
96.40
alOO.OOO
c5,000
a4,000
al,500,000
a2,000,000
a7,966.250
a6.6BJ 675
Y
_
rolodo Trac. Lt. A P. Co.. 13,000.000
a
100 000
a250.000
99-50
100-00.
..153,497,850 17,437,849 253,545,475
Total..
•The stock
largely pledged to secure the
Consolidated Cities Lt.. Pow. A Trac. Co.
owned in theee companies is
$10,000,000 bonds of the
Summary of Capital
Stock and Funded Debt Sub. Cos. as of
Dec. 31 1919.
Com. Stock.
Pref. Stock.
Bonds Out.
%
$
$
Owned directly by Cities Serv. Co....153,545,868
Securities owned by sub-holding cos.. 60,934,665
Bonds and funds
in sinking fund..—
Outstanding in hands of public
5,124,667
23,305,501 17,437,849
641,000 26,420,000
1,876,698
9,993,774 107,763,303
219.605,200 33,940,275 153,497.850
Merger of Subsidiary Companies.—As of May 1 1916 the Empire Gas A
Fuel Co. took over the Quapaw Gas Co., Wichita Natural Gas Co., Wichita
Pipe Line Co., increased Its capital stock from $7,500,000 to $12,500,000
and issued $14 000,000 1st M. and coll. tr. sk. fd. 6% bonds due May 1
1926.
See V. 102, p. 1542; V. 103, p. 1034.
The entire stock of the enTotal
I larged co., except directors' shares, is owned by the Cities Service Co.
j Proceeds of the new bonds were used to retire the $7,000,000 Cities Service
'
Co. 7% con v. notes (called for payment on or before July 12 1916), and
underlying bonds and provide for extensions, Ac.
j
In July 1916 acquired the Crew Levick Co. of Phila., operating producing.
refining and distributing properties in Penna., Ohio, Okla. and other
,■ States.
V. 103, p. 406. 760, 1034.
■,
,
\
As of Aug. 1 1916 acquired over 75% of the pref. stocks of the Lincoln
Gas A EL Lt.Co. (V. 102, p. 1991). Montgomery Lt. A Water Power Co.
(V. 102, p. 1721; V. 91, p. 340). and Electric Bond Deposit Co. (V. 94, p.
510; V. 100, p. 1675), in exchange for Cities Service pref. stock under offer
t
outlined in VT 102, p. 2077.
I
In August 1916 acquired over 75% of the outstanding common and
! preferred stocks of the Toledo Trac. Lt. A Pow. Co. In exchange for 35%
Cities Serv. pref. and 7% com. stock for each share of Toledo common
and share for share for preferred.
V. 103. p. 1119
In Nov. 1916 contracted to acquire the Kansas Natural Gas Co. and Its
subsidiaries through the Empire Gas A Pipe Line Co. V. 103, p, 2078
For offer to exchange Cities Service 7% debentures Ser "D" for stock and
{ 2nd mtge bonds of Kansas Natural Gas Co.
See V. Ill, p. 1186.
In April 1917 the Empire Gas A Fuel Co. was incorporated in Colorado
.
,
all owned by Cities Service
Arkansas, Colorado, Montana,
Dec 1917 purchased the Stand¬
ard Asphalt & Refining Co. at Independence, Kan., from the Armour inter¬
ests, also acquired control, in 1917T of the Atlas Chemical Co., which sells
coke oven gas to the Toledo Railways & Light Co.
;
1
In Nov. 1917 acquired the American Pipe Line Co. (V. 105, p. 2183).
Durine 1918 also acquired the Berea Pipe Line Co. and Venture Gas Co.
!
In Dec. 1918 the co. acquired control of the Western Light A Power
with $1,700
?
Co., and owns gas, oil and mineral leases in
Nebraska, New Mexico and Wyoming.
In
'
alO.OOO
99.9155
49.866
100.00
510,500
!
100.00
a200,000
<760,755
Sentinel Oil & Gas Co._
Preferred stock..
99.9
100.00
99.99
a750,000
a800,000
Securities of sub. co
•City Light & Traction Co.
a.300,000
al,000,000
al,000,000
443,550
a99,600
Frost Gas Co
*
99.872
a200,000
38.200
Columbus Nat. Gas Co—
Preferred stock
98.333
99.533
99.5
99-8
a250,000
175,000
425,000
1.265,000,
ice Co.
O550.000
—
...
Chemical Co
Bartles Oil Co
Bartlesville Gas A Elec. Co.
a30,000
a416,300
al60.000
alOO.OOO
a750,000
352.000
Ry. & Elec. Co
Preferred stock
Stock
Amount Cities Serv-
Company. Outstanding,
75,000
Preferred stock
Athens
*
Cities Service
Outstanding.
Ashland Gas & Elec. Lt. Co
al.658.100
a.300.000
al,500,000
a500.000
Toledo & Western RR
controlled by the Cities
$100; b $50; c $25; e $20;
/S5.25.]:
Arkansas Valley Gas Co...
.
106.000
494.400
50.000
Toledo Beach Co
SUB. COS.—The following table shows the
securities of the subsidiary companies owned or
Service Co. as of Dec. 31 1919; {par of shares: a
Adrian Street Ry. Co
•Alliance Gas A Power Co.
618,000
750,000
2,974,000
5,734,000
99.95
99.965
139,0(10
2,350.000
.
al,000,000
a2.000.000
a 500.000
500,000
1.788,000
568,000
250,000
a4.000.500
Tol. Ottawa Bch.A Nor.Ry.
controlled 80 gas, electric light, heat, power,
water and 25 oil producing and refining properties, operating in 27 States of
the United States, and in the Dominion of Canada.
The public utility prop¬
erties serve over 375 communities.
The company in May 1919 announced
that through its sub. cos. it controlled leases on about 4,000,000 acres of
proved or prospective oil lands in the United States.
V. 108, p. 2024.
Below will be found tables giving a complete list of the subsidiary com¬
panies with the outstanding capital stock and bonded debt of each and the
amounts thereof owned or contracted for by the Cities Service Co.
The
holdings of the Consolidated apd Utilities companies are included in these
tables, having been taken over by the Cities Service Co. as of Nov. 1 1913.
Bonds
a
800,000
99.933
99.86
a500.000
——
350.000
Toledo Casino Co
See full particulars
in the issue of this
Service Co."
regarding the Consolidated and Utilities companies
:..
al 5,000
a750,000
10.000
750,000
733,000
2,090,000
Sub.
Section for Sept. 27 1913.
On Dec. 31 1919 the company
i'-
25.36
97.959
30,000
19,300
Nunimft County Powef Co.
Bethel (Conn.) Ga« A
this section of Nov. 15 1919 under "Cities
.
2,000
311,000
1,500,000
Texas Distributing Co
V. 96, p. 656, 718.
In 1913 the company also acquired
the properties (consisting of securities) of Consolidated Cities Light, Power
A Trac. Co. and Utilities Improvement Co.
For terms of acquisition see
d $1;
a500,000
a2,180,900
'«
41.000
465,000
3,984.000
Okla. Gas & F. Co.
350,000
Sub.
Electric Light Co.
—
99.9
100.00
100.00
70.866
99.90
Preferred stock
CITIES SERVICE COMPANY—A holding company.
ORGANIZATION.—Incorporated In Delaware Sept. 2 1910 as a hold¬
80.81
a400,000
al,000,000
a3.000,000
a2,000,000
a 137,300
a300,000
alOO.OOO
—.—
a
Spokane Gas & Fuel Co...
ing company, per plan in V. 91. p. 656, and acquired control of Denver Gas
A Elec. Light Co. (see that company) and the Empire Diet. Elec. Co.
Or¬
ganized and managed by H. L. Doherty A Co., New York.
V. 102, p.
2077.
Under a re-arrangeraent of properties made in March 1913 acquired
control of the St. Joseph (Mo.) Ry., Lt., Ht, & Power Co., Empire District
OF
.,Lt.,H t .APCo
Salina Lt., Pow. & Gas Co.
•Southern Ont. Gas Co..Ltd
in Maine in 1917 to finance the purchase
Electric Corp. of a half-interest in the oil and gas
leases covering a valuable producing property of 514 acres in the Augusta
pool of the Kansas oil field, the remaining one-half being owned by the
Magnolia Petroleum Co. (V. 104. p 1390, 1268).
The oil company issued
80,000 shares of capital stock of $5 par value and $2,000,000 5-year 1st M.
7% bonds dated Apr. 1 1916; mortgage trustee is U. S. Mtge. & Trust Co.
Int. payable quarterly.
Denom. $1,000 and $100.
The majority of the co.'s stock is owned by the United G. & E. Corn.
The $2,000,000 bonds have been exchanged for 7% Purchase Money Ctfs.
of Indebtedness of the U. G. A E. Corp. secured by a like amount at par
of the oil company bonds and having no maturity except upon the dissolu¬
tion or winding up of the corporation.
The certificates of indebtedness
are red. in whole or in part at the option of the corporation, on s.-a. periods
at (or, if purchasable, at a less price) 101 and interest on Jan. 1 1918 and
an increase of 1% premium on each July and Jan. thereafter until 110 has
been reached, and thereafter at 110.
For description of the oil co.'s prop¬
erty, estimates of earnings. Ac., see V. 104, p. 1490.
CAPITALIZATION
l
Preferred stock
ORGANIZATION.—Incorp
Co.
Company...
St. Joseph Ry
by the United Gas A
Gas
Rys.& Lt.Co.
•Meridian Light A. Ky. Co.
Utilities Oil & Refining Co.
■7 (6)
Co
Co.
Havelock Elec. Light
Lorain County Electric
Richland
99.994
—
Preferred stock......
year
taxes, $74,151; charges,
—
Lebanon Gas & Fuel Co
-V-Vyy
:-•
7,234,000
Pref. stocks of sub. cos—
Up to Nov. 22 1919 $77,000
Y/'v-y"
80.81
17,739,600
6,700,000 a62,500,000
17,739,600
37,884,000
—...
Securities of sub. cos..—
Maumee Vail.
100.00
100.00
100,000
.
(Del.)31,951,800
Empire Gas A Fuel Co.(0.)
Empire Oil A Gas Co., Inc.
Empire Petroleum Co.
bonds can be issued for 75% of cost
of extens. A impts. when net earnings are twice int. on bonds, Incl. those
to be issued.
Red. at 105 and Int. on any int. date.
Ann sink, fund of
Y .004
—— •
EmDire Gas A F. Co.
Pi«0^ stock
Bonds.—'The $93,000 additional
5%, of gross receipts on and after Oct. 1912.
99-95
al.003.900
a600,000
alOO.OOO
al,70()
4.000
430.000
Preferred stock
Maturity.
98.933
100.00
99.4
a3,000,000
......
_
Empire G. & F. Co. (Col.).
Empire Gas & F. Co.(Ky.)
lint, at First Tr. A Sav. Bk., Chic., Trustee.
retired.
—
securities
Preferred stock
250,000
50,000
579.000 Sept 1 1935
7%
7%
5%
pref stock (7<£ > $250,000
2nd
co.
35,449
4,302,000
Preferred stock
Sub.
—
a200,000
al,500,000
al,500,000
i
Electric Bond Deposit Co
Preferred stock
Empire Dist. Elec. Co
-
„....
a300,000
400,000
Co
Preferred stock
Illinois for
Outstanding.
$750,000
50,600
Woodstock Gas Lt. Co
—
al,250.000
e 40,000
a300,000
686,120
30,000
Ingersoll Gas Light Co
United Gas Cos., Ltd
Acquired physical property, franchises and capital stock of the
Bloomington Gas Light A Coke Co. and the Citizens' Gas Light A Heating
Co.
All com. and pref. stock owned by United Gas A Elec. Corp.
.
Date.
6121,820
2,500
85,000
Brantford Gas Co
Durham Traction
99.983
———
w
Domin. Nat.GasCo.,Ltd.
99 years.
STOCK AND BONDS—
— —
4.820.000
_
91.248
99.938
99.987
6625,000
C400.000
alO.OOO.000
al,217,900
570.000
a3.000,000
6162.300
675,000
Preferred stock
—
100.00
a3.001,500
388.500
655,000.
156,000
Co._12.730,350
Preferred stock.
— —
100.00 '
/5.250
2,910,600
•Dominion Gas Co__„,
(5) Union Gas «Sc Electric Co.
ORGANIZATION.—Incorp. July 6 1899 under the laws of
74.51
200,000.
Sub. Cos. securities..
Extension.—Holders of the ref. & impt. mtge. bonds consented to an
extension of $900,000 of the $961,000 Houston Gas Co. 1st 5s due March 1
1920 to March 1 1923, at 7%.* The remaining $61,000 of these bonds was
paid for out of the proceeds of the sale of ref. A impt. bonds or other junior
securities.
The extended bonds are red. all or in part on any int. date at
101. on or before March 1 1921; at 100% on or before March 1 1922; and
a5,000,000
—
——
Crew Leviek Co
Denver Gas A EL Lt.
A Elec. Corp.
Does entire
vicinity.
Has acquired Houston Gas Co.
1940 and fixes the prices for gas at $1 per 1,000
_;Ay-
cubic feet.
—
...
•Cumb-AWest. El. Ry. Co.
Danb.& Beth. G.AEl.LtCo
and
100 00
Compania Emmex De Pe¬
troleo y Gas
is owned by United Gas
Houston
until July 1
99 85
alOO.OOO
4.
Colombiana
Compania
after
net,
V:
Fuel Co.
%
al.000.000
300.000
Del Petroleo 1....
Bonds.—$193,000 in treasury.
Remaining bonds are for extens.. impt.
and betterments.
Subj. to call at 105 and int.
No sinking fund.
ice Co.
Outstanding,
Company.
550.000
Colombial Petroleum Co
Stock.—Preferred stock 7% cum. from April 1 1913.
Cities Serv-
Amount
Service
Cities
$
•
•City Light & Water Co
—
EARNINGS.—YW
'*'
*'■»'•
Interest.
Date.
-Stock-
-Bonded Debt-
v
Operates an electric light and power system in New Orleans.
j
outstanding common capital stock,
C°ln Nov.° 1*919
Power Co. a subsidiary brought out
secured notes, guar., prin., int. and sink, fund, by
the Cities Fuel A
$7,500,000 3-year 6%
ELECTRIC
94
the Cities Service Co., to refund $7,259,000 2-year 7%
Dec. 1 1919.
V. 109, p. 1701, 1795.
portune time for the consideration of a radical chanare in any of the co s
policies, and so did not act upon the proposition of applying for the listing
Cities Service stocks on the N. Y. Stock Exch, and the reduction or
of
abolition of the par value of the common stock.
In Feb. 1918 issued $3,000,000. Series "B" 7%
conv. debentures to
provide for future requirements.
V. 106, p. 1126.
In Aug. 1918 an addi¬
tional $6,000,000 were brought out,
V. 107, p. 607.
1919 stockholders
"C"
Series
7%
were
offered the privilege of
subscribing for
V. 108,
debentures at par and int.
conv.
P-
In Dec. 1919 the company
Series "D,"
Feb.
brought out $10,000,000 7%
]V. 109,
1919
p. 2174,
300,000 (par
conv.
debentures.
2266.
$10) "Bankers shares" were disposed of.
200,000 being subscribed for at $35 each and 100,000 at $37 50
each
V. 108, p. 881, 1062.
See also V. 109. p. 1702.
In March l920 holders of record of Feb. 1 1920 of the company's 8eries"C"
7% conv. debentures were given the privilege of converting 10% of their
holdings Into com. and pref. stock, as provided for in the indenture.
Y. 110,
p. 1766.
A similar privilege lias been extended each month to and incl
Oct. 1920.
V, 111, p. 166i.
On April 8 1919 stockholders voted to increase the authorized amount of
pref. stock from $100,000,000 to $150,000,000.
On Nov. 17 1919 the
stockholders voted to further increase the auth. capital stock from $200,000,000 to $300,000,000 by creating $60,000,000 of 6% Preference BB
stock and $40,000,000 of 6% Preference. B stock.
$3,000,000 of the new
Preference B stock was issued immediately, being offered to the stockholders
at $7.50 per share, and was largely oversubscribed.
V. 109, p. 1702,1990.
In
Stock, &c., Outstanding Aug. 31 1920.
STOCK, ETC.—
Dale.
Com. stock ($100) $50,000,000
Pref stock
6%
cum
($100)
(par $10).
7% debs
closed gold._
-
-
Interest.
Outstanding. Divs.&Mat.
Monthly *$41,158,739
See text.
Monthly
Monthly
$150,000,000
Pf BB stk 6% cum $60,000,000
Pf B stk 6% cum $40,000,000
*76,267,384
See text.
Monthly
3,085,850
See text.
Series "B"( 1918
See text
7,236,080
Jan 1 1966
c*r..tf [Bankers Trust Co., New York, trustee.
Conv 7% debs Ser "C" $17,-/ 1919
See text
16.861,380 Jan 1 1966
500,000 gold
c*&r_tf. 1 Bankers Trust Co., New York, trustee.
Conv 7% deb Ser "D" $30,*/ 1919
See text
2.988,200
Jan 1 1966
000,000 gold
c*&r_tf-(New York Trust Co., New York, trustee.
'Bankers'shares" (par$10).r_
See text
'
x
See text.
*
Including $3,358,920 common stock and $1,899,135 pref. stock in com¬
pany's treasury,
x Included in common stock outstanding.
Stock.—On Nov. 17 1919 an amendment was made to the charter which
Conv
provides that the company shall have the right to redeem its first pref.
stock, all or in part, at 112.
Preference B and Preference BB stock are
redeemable, all or in part, at 106.
V. 109, p. 1990.
Dividends.—Divs. on the pref. stock commenced with the date of or¬
ganization Sept. 2 1910 and were paid monthly at the rate of 6% per annum
until Aug. 1 1914.
Divs. at the same rate were resumed on Jan. 1 1916
and the accrued accumulated divs. were paid in convertible debentures,
practically all of Avhich have since been converted,
Divs. have been paid
regularly to and incl. Dec> 1 1920.
An initial div. of
of 1% was paid
Jan. 1 1920 on the 6% Preference B stock.
Same rate paid regularly since
to and incl. Dec., 1920.
Cash divs. on com. stock began with the date
of
rganization, Sept. 2 1910, and were paid monthly up to Aug. 1 1914
at
he following rates per annum: 3%, 1910; 3%, 1911; 4%, 1912; 5%, 1913;
6%, 1914, and were then suspended until Jan. i 1916, at which time a dis¬
tribution of 6% of convertible debentures was made and on July 1 1916
a further distribution of 3%
of convertible debentures.
Since that time
to and incl. Dee. 1 1920 cash divs. have been paid on the com. stock at the
rate of 6% per annlim.
On Sept. 1 1916 a div. of 2% in com. stock was
paid and on Dec. 1 a div. of 4% in com. stock was paid.
During 1917 the
co. declared a div. of 6% payable in com. stock; in 1918, 9% in com. stock,
and in 1919 12% in com. stock.
Stock divs. will be increased at the rate
of 3% per annum, so long as the earnings of the co. justify this policy
'920 whic
The eo. paid a div. of 1M % in com. stock on Feb. 1 1920 which places the
"v.
div. at an annual rate of 15%.
ah
15^
Divs. (cash.) on "Bankers Shares": In 1919, $4.11; In 1920, Jan., 46.1c.;
Feb., 55.9c.; March, 54.7c.; April, 50.2c.: May, 53.8c.; June, 49c.; July,
s4G.2c.; Aug., 45.6c.; Sept., 42c.; Oct., 40.75c.; Nov., 41.5c.
'•
"Bankers' Shares."—The company deposited with the Bankers Trust Co.,
Holders of the Bankers' shares have the right to surrender their holdings
receive therefor 1 share of com. stock ($100) for each 10 shares of
and
Bankers'
shares
deposited.
issue has been closed
7% Debentures, Series "C."—Denom. coupon bonds, $500
$1,000, int. J. & J.; registered bonds, $5,000. $1,000, $500, $100, $10
and
multiples of $10, int. payable by check,
monthly,
quarterly,
semi-annually, or annually, at option of holder; except that on bonds of
less than $100 principal amount, interest is payable annually on Jan. 1
only.
Each $1,000 principal amount of these debentures is convertible (at
option of holder) on and after Jan. 1 1921 (or earlier at co.'s option), into
9 shares of Cities Service pref. stock and 1 share of Cities Service com. stock,
together with the accumulated cash and stock divs. on the latter amount of
com. stock from Jan. 1
1919 to time of conversion.
$93,100 are owned by
Convertible
&
included in amount outstanding.
Red. all or in part at any time
and int.
If called for redemption, the right to convert is secured for
days prior to the redemption date.
Additional debentures may
be issued only under certain restrictions.
Int. payable at office of H. L.
Doherty & Co., N. Y., or office of Cities Service Co. in London, without
deduction of normal Federal income tax.
V. 108. p. 82.
company,
at 102
at least 30
'Convertible 7% Debentures, Series "D."—Denom. (c*) $1,000 and $500,
int. J. & D.; (r) $5,000, $1,000, $500, $100, $10 and multiples of $10; int.
payable by check monthly except that on bonds of less than $100 principal
amount, int. is payable annually on Dec. 1 only.
Each $1,000 principal
amount is convertible on and after Jan. 1 1922 into $925 par value of either
6% cum. Preference B stock or 6% cum. Preference B stock and $75 par
value com. stock, together with the amount of accumulated cash and stock
div. on $75 par value com. stock after Dec. 1 1919 up to time of conversion.
The company reserves the right to provide for the conversion of all, or any
part, of these debentures at any time prior to Jan. 1 1922.
$20,000,000 of
these debs, are held in treasury.
Additional debs, of this issue may be auth.
under certain restrictions.
$3,000,000 are deposited with the Bankers
Trust Co. for the conversion of the Toledo Trac.. Lt. & Power Co. conv.
7%
debentures.
operation of an investment
the open market at a price not
Through
of these debentures, a
amount of com¬
Callable, all or
each month equal to the cash dividends paid on the
stock into which these debentures are convertible.
mon
fund there is
exceeding 105
account
n part, at 102 and int.; when called the right of holders to exercise
their
privileges of conversion is secured to them either on the redemption date or
a date a reasonable time prior to such redemption date, which must be fixed
by
Int. payable at offices of H. L. Doherty & Co.,
published notice.
Eng.
V. 109, p. 2174.
of Consol. Cities Light. Bower & Traction Co.—These bonds remain
out as a lien on the securities pledged therefor (see * in the table following).
The bonds are subj. to call at 105 on any int. day and are guar., p. & L,
by the Cities Service Co. On or before Jan. 1 the company will in each
year either (1) pay to s.f. 1 % of bonds out or (2) deliver to trustees bonds of
the present series equivalent at 105 and int. to the above payment.
All
cash in sinking funa will be applied either (1) for purchase of these bonds
at or under 105, or call at that figure; or (2) in purchasing bonds of com¬
panies whose stocks form part of security for present series.
All bonds so
purchased will be kept alive for sinking fund.
Maryland and Pennsylvania
State tax refunded.
See also V. 95, p. 679,110; V. 103, p. 1983.
First lien mtge gold (see text) f 1912
5 g J-J
x$10,000,000 July 1 1962
($300, $500 and $1,000, or(Int. at office of H. L. Doherty & Co., N. Y.,
£ equivalent)
$10,000,0001
or Lloyd's Bank, Ltd., London.
authorized
c*.tf [Bankers Tr#ust Co., New York, trustee.
x $376,600
of this amount is owned by Cities Service Co., and $1,«
500.000 pledged under mtee of Cities Fuel A Power Co.
EARNINGS OF CITIES SERVICE CO.—For the 12 months ending
Dec. 31 (annual report for 1919 in V. 110, p. 1410, 1427.
The "earuings" as here shown include both the dividends and interest
received and the company « proportion in the undivided surplus earnings
of the subsidiary companies for the periods In question, based on its holding*
N.
Y., or company's offices in London,
Bonds
<n said companies.
Month of August.
Net
Int.
."$1,957,876
391,993
on
$1,249,276 $22,509,067 $20,278,477
166,541
1,924,864
1,503,927
354,763
4,532,994
4,117,842
$1,409,895
earnings..
$727,973 $16,051,208 $14,656,709
notes and deben.
Preferred
Net to
1919.
1920.
$1,300,709 $23,205,745 $20,965,753
51,432
696,679.
687,276
56,348
Expenses
12 Mos. end. Aug. 31
1919.
1920.
Gross earnings.'..$2,014,224
155,988
dividends
common
stock.
"
andreserve
of Subsidiary Companies.
Calendar
Gross
Net (after
Interest
Preferred
Surp. for
Year—
Earnings.
Taxes. &c.)
Charges.
Divs.
Com. Stock.
1919
..$91,398,946 $29,196,463 $10,911,690 $4,665,467 $13,619,306
1918
92,527,838
31.428,222
9,291.830
4,425,339
17,711,053
OPERATIONS, AC.—As of Dec. 31 1919, Cities Service Co. subsidiaries
owned 409 miles of track; 900 cars; 1,762 miles of artificial gas mains (on
3-inch basis); 4,548 miles of natural gas mains; 2,162 gas wells, and 3,475
oil wells.
During 1919 carried 112,586,749 passengers, sold 6,617,358 M.
cu. ft. of artificial gas, 40,225,008 M. cu. ft. of natural gas and 586,764,531
k.w. hours and produced 13,195,036 bbls. of oil.
OFFICERS.—Pres., H. L. Dohertv; V.-Ps.. E. Mackay Edgar, Frank
W. Frueauff. Thomas I. Carter and E. H. Johnston: Sec., Paul R. Jones
Treas., Louis F. Mutfl-.
N.-Y. office, 60 Wall St.—V. 110, p. 766, 874,
1190, 1410, 1427, 1529, 1645, 1751, 2079, 2196; V. Ill, p. 192, 391, 592,
695, 899, 993, 1086, 1186, 1475, 166-4.
Combined Income
Account
(Mich.) St. Ry. Co.
Proposed.—In June 1 1920 it was reported that the co.'s property had
V. 110, p. 2567.
We understand that local interests
have been negotiating for the purchase of the line and that the deal is
expected to be concluded by Jan. 1 1921.
V. 111, p. 1660.
Organization.—Incorp. in Mich, on Feb. 13 1900 as a reorganization of
the Adrian Elec. St. Ry. Co.
Cities Service Co. owns over 98% of the
$30,000 cap. stock outstanding and all of the $75,000 1st M. 5% bonds.
Fares.-*-In Oct. 1920 fares were raised from 5 cents to 10 cents.
V. Ill,
(1)
Adrian
Sale
been offered for sale.
p.1660.
Franchise.—Expires in
193.5.
Road. &c.—Does the entire electric railway business in Adrian, Mich.
3.89 miles of track and 3 motor cars.
50-70-1b. T and girder rails; standard
gauge.
Officers.—Pres. & Gen. Mgr., Frank R. Coates;
V. 110, p. 2567.
V.-P., J. F. Johnson,
Sec. & Treas., A. P. Nicklet.
(Ga.) Railway & Electric Co.—A trolley road.
ORGANIZATION.—Incorporated In Georgia on April I 1910.
Pur¬
chased Athens Elec. Ry. Co.
Leased for 99 years from May 1 1911 the
James White Power plant.
V. 90, p. 1101, 1423.
Hydro-electric stations
at Mitchell's Bridge, Tallassee Shoals and Barnett Shoals (James White
power plant); steam station in Athens.
Owns and operates entire street
railway, electric light and power systems in Athens.
Wholesales energy at
Jefferson, Ga.
Population served, over 21,000.
Franchise unlimited in
(2)
Athens
time.
*
Fares.—A 6-cent fare is now in effect.
STOCK AND BONDS—
Interest.
Date.
Stock, com $750,000 ($100)
Stock, pref (5%. cum) $300,ww
000 ($100)
t
lit & ref M $2,000,000 gold!
Outstanding.
$750,000
Maturity.
300,000
Oct.'20,1 )4
Q-J
1910
5 g J-J
362.000 July 1 1950
sinking fund ($1,000)0* cpt;Int. at Farmers" Loan A Tr. Co.. N. Y., Tr.
1901
Athens Electric Rv 1st mtge
QgA-O
388.000 Oct 1 1931
$400,000
($1,000)
gold Interest at Title Guar. & Trust Co., Atlanta,
Trustee, or Old Colony Trust Co., Boston.
c*cpt
—
—
Slock.—Preferred stock is redeemable at
The stock divs. accruing to the com. stock
deposited will be sold each month and the proceeds, together with the cash
divs. on such stock, will be paid the holders of these Bankers' shares each
month.
Additional shares may be issued at the option of the company
or
H. L. Doherty A Co., its fiscal agents.
V. 108, p. 881.
Convertible 7%
Debentures, Scries
B."—Denom. (1) coupon bonds,
$1,000, int. J. & J.; (2) registered bonds, $5,000, $1,000, $500 or $100; int.
payable by check, at buyer's option, either monthly, Q.-J., J. & J., or annu¬
ally Jan, 1; (3) registered bonds, $10 or multiples thereof, less than $100, int.
payable annually Jan. 1.
Each $100 of principal amount is convertible,
at option of holder, on Jan. 1 1920, or on the first day of any month
thereafter, into $80 par value of pref. stoek, and $20 par value of common
stock, together with an aftnount of cash and stock equal to the divs. paid
on an equal amount of common stock from Jan. 1
1918 to the date of con¬
version.
$51,809 are owned by company, included in amount outstanding.
Callable, all or in part, by lot or by distinctive numbers at 102 and int. on
4 weeks notice. If called for redemption, the right to convert is secured for at
least 30 days prior to redemption date. Interest payable without deduction
This
of normal Federal income tax. V. 106, p. 1126; V. 107, p. 607, 699.
available for purchase in
benefit of holders
and
Interest
sum
flrating debt and provide working capital
In Jan.
for
and
secured notes due
shareholders ratified an increase In the stock from $50,000,
000 ($30,000,000 pref. and $20,000,000 common) to $05,000,000 ($40,000.
000 pref. and $25,000,000 common).
On June 29 1916 authorized stocl
was further increased to $100,000,000 ($60,000,000 pref. and $40,000,000
common).
On Apr. 3 1917 shareholders ratified a further increase in au¬
thorized stock to $150,000,000 ($100,000,000 pref. and $50,000,000 com.)
In Nov. 1915 sold $5,000,000 pref. and $2,500,000 com. stock to a syndi
cate for $5,000,000 cash to retire
V. 101, P. 1627, 2071.
In Oct. 1916 sold $8,000,000 pref. stock In connec
toe
tion with the purchase of the capital stock of the Orew-Levick Co., Ponca
»Jr
(Okia.) Refining Co.. Ponca Lubricating Co.. Gushing (OkiaA Refining
Co. and the Producers' Refining Co.. Gainesville, Tex.
V. 103, p.
1412, 1301.
In Nov. 1917 It was announced that the directors deemed It an inop¬
In May 1914
$10,000,000
82.
[Vol. 111.
RAILWAYS
105-
Bonds.—Of the 1st A ref. bonds. $38^.000 are reserved to retire under¬
lying bonds and $1,175,000 for acquisitions and improvements at
cost, but only when net earnings are 114 times int. on all bonds
those to be issued.
$50,000 are in treasury.
$25,000 have been
Sinking fund of 1% began in 1915.
Bonds are subject to call
V. 93, p. 665.
Of the Athens
Elec.
1st
Ry.
be called at 106 and int.
M..
See V. 73.
d.
entire
issue, but
no
75% of
out and
retired.
at 110.
lesser part, may
1311.
Dividends.—On pref., 6% per annum In
1904 and 1905, 5)4% in 1906,
1907 to 1910, 5% in 1911 and to and incl. Oct. 1920.
Divs. on com.
stock are no longer reported as Cities Service Co. owns over 99% of same.
ROAD.—Owns 8.93 miles of track.
Standard gauge 60-lb. A. S. C. E.,
70-lb. T and 108-Ib. guard rails; 14 motors and 5 other cars; 4 power plants.
7,850 capacity.
OFFICE]
RS.—Pres., C. D. Flanigan; V.-P., F. W. Frueauff & John E.
Talmadge. Jr.; Sec. & Treas., J. M. Billing.
Office, Athens, Ga.—V.
107, p. 1191; V. 108, p. 169.
6%
(3)
Bartlesville Gas & Elec. Co.—Entire stock (except directors shares)
owned by Cities Service Co.
This co. was formerly known as the
ville Interurban Ry. Co.
Name was changed to present title on
Bartles¬
Oct. 1
1920, and property of Bartlesviile Gas & Oil Co. was acquired.
As of same
date, co. transferred its railway property to the Bartlesville Interurban Co.
Railway service discortinued July 15 1920.
(See V. 110, p. 1860.)
As the
co.'s operations are now confined solely to gas and electric business we have
eliminated the co's statement from this supplement.
V. 110. p. 1088, 1186.
For history of
ment
Bartlesville Interurban Ry. see "Electric Railway" Supple¬
of Nov.
151919.
City Light Sc Traction Co.
ORGANIZATION.—Incorp. in July 1912 in Missouri as successor to the
Sedalia Lt. A Trac. Co.. sold at foreclosure.
V 95. p. 419.
See plan under
Sedalia Lt. & Trac. in V. 94, p. 1058.
Purchased Sedalia Ice, Lt. A Fuel Co.
(4)
Does entire artificial
gas,
electric light and power, and electric railway
also manufactures and sells ice.
Population
business in the city of Sedalia;
served over 21,000.
Franchises.—Gas expires in 1926; electric in 1940; and railway in 1940.
Rate Increase.—Effective Oct. 1 1918 was auth. to increase gas rates
V. 107. p. 1384.
Increase.—Effectivq Oct. 3 1919 was auth. by the Mo. P. S. Comm.
by about 20%.
*
Fare
to
increase fares to
cents.
V. 109, p.
6 cents.
The
co.
had applied for
auth.
to charge 7
1891; V. 110, p. 167.
Maturity.
$1,000,000
400.000
1912
5 J-D
922.000 June 1 1952
gold sink fd ($100, $250,(Int. at office of co. or H. L. Doherty A Co..
$500,
$1,000)
-->c*cptf
N. Y. New York Trust Co., N. Y., &
\
Sedalia Trust Co., Sedalia, Mo., Trustees.
Sink fd. of 1% of bonds out commences June 1 1922; red, at 105 and Int.
on 4 weeks' notice.
Additional bonds may be issued for 85% of impts.
STOCK AND BONDS—
Common $1,000,000
Date.
($100)
Pref $500,000 (see text) ($100)
First
mortgage
$2,500,000/
a
—
Interest.
Outstanding.
Oct., 1920.]
ELECTRIC
Divs. on pref. were paid for the year 1913 at the rate of 1 %, and increased
by 1% each year until 1917, when 5% was reached.
Divs. are payable
June and December.
Divs. are guar, by Gas Securities Co.
Pref. stock
is convertible into bonds, $ for $, under certain restrictions.
ROAD.—Owns and operates 8.3 miles of track.
21 motor and 8
other
Standard gauge, 50 and 70-lb. rails.
Has steam power plant with
w. capacity.
46.91 miles distribution lines.
Has 25.17 mile
RAILWAYS
Bonds.—$2,000,000 1st & ref. are pledged as collat. to the $850,000
15 1922.
Bonds have sinking fund of 1% of outstanding
bonds yearly beginning Oct. 1 1920.
Additional bonds may be issued for
80 or 90% of impts. on certain conditions.
Red., all or in part, at 102 and
Int. on any int. date on 4 weeks' notice.
notes due Mar.
Notes.—Secured
cars.
2,175 k.
of gas mains.
OFFICERS.—Pres., F. W. Frueauff: V.-P., Gen. Mgr. & Treas.. H. C
Feuers; Sec., Allen O'Bannon.—V. 107, p. 1384; Y. 109, p. 1891; V. 110,
p. 167.
ml^rlartdf & Westernport Electric Ry. Co.—A trolley road.
ORGANIZATION.—Organized In Maryland
on
April 11 1902 by special
Act of the Legislature, as successor to the Frostburg Eckhart & Cumberland
Ry.
Has absorbed the Lonaconing Midland A Frost-bur* Ry. and the
Westernport & Lonaconing.
Population served
over
58,000.
Fare Increase.—Has been auth. to charge a 7-cent fare.
In June
applied for auth. to increase cash fares to 10 cents per zone.
8TOCK AND BONDS—
Stock
$1,000,000
Date.
Interest.
($50)
1920,
Outstanding.
Maturity.
$625,000
225,000 Jan. 15 1928
—
West'p't & Lonac'g, $225,0001 1903
5 J-J 15
($500 & $1,000) —.—c*pt)lnt. at Real Estate Trust Co.,Phila., Trus.
Frost Bck&Cum 1st M $250.-1
1901
5 g J-D 16
230.000 June 15 1926
OOOg ($500& $1,000)~c*cptjlnt. at Real Estate Trust Co.. Phila., Trust
1901
5 g J-D 15
200.000 JunelS 1926
$200,000g($l .000)._c*cptflnt. at Real Estate Trust Co.. Phila., trust
The above bond issues are callable at 105 and int.
Lonac Mid A Frost first mtgel
ROAD.—Operates 27.40 miles (2.50 operated under trackage rights) of
track between Cumberland. Eckhart, Frostburg, Lonaconing and Westernport, passing through other communities; 60, 75 and 92-lb. T and girder
rail; standard gauge.
20 motor cars and 1 other car.
OFFICERS.—Pres., H. L. Doherty; V.-P., F. W. Frueauff; Sec.-Treas.,
to. Price.—V. 99, p. 537, 608; V. 104,
p. 2451.
H. N. Beckett; 3d V.-P. & Mgr., D.
(6)
Durham Traction Co.
ORGANIZATION.—Incorp. in N. C. Jan. 29 1901.
25c. to 8 cents with 4 tickets for 30 cents.
STOCK AND BONDS—
Date.
Interest.
Maturity.
Outstanding
Common, $300,000 ($100).
300,000
Preferred $200,000 ($100)
6-J.
200,000
1st M.. $400,000 cum. (closed) VI901
5 g M-S 1
400,000 Mar. 1 1941
($1,000)
gold_
c*tf.j
Maryland Trust Co., Bait., Trustee
ROAD.—11.70 miles of track; 21 passenger motor cars and 2 other motor
cars.
Standard gauge.
60 lb. T and 801b. girder rail, over head trolley
OFFICERS.—Pres., F. W. Frueauf- V.-P., & Gen. Mgr. R. L. Lindsey;
Sec. & Treas., A. W. Grady.
Office, Durham, N. C.
—
80 Meridian Light & RailwayMississippi in
RGANIZATION.—incorp. in Co.
Feb. 1901 as a reorganiza¬
Does entire street railway,
Owns all the stock of the
Hattiesburg Trac. Co.
Franchises are for 50 years from Oct. 4 1895 for
street railway and from Dec., 1900 for gas and electricity contract for
lighting streets.
Population served, 27,000.
Rates.—In Aug. 1918 the Federal Court issued an order restraining the
City of Meridian from interfering with the co. in increasing fares to 7
cents (4 tickets for 25 cents), power rates 28 to 40% and gas rates 30%.
V. 107, p. 603, but see V. 110, p. 2487.
tion of the Meridian
St.
Ry. & Power Co.
artificial gas and electric business in Meridian.
STOCK AND BONDS—
Interest.
Date.
Outstanding.
Maturity
$2,000,000
1904
5 g M-S
750,000 Mar 1 1944
and $1.000
—------C*/Int. at First Nat. Bank of Mobile, trustee
Gen
mtge sf
$5,000.0001 1910
5 M-8
1.033.000 Mar 11945
($1,000)
gc*cpt/First Nat. Bank of Mobile, Trustee.
Bonds.—A sinking fund of 1% of 1st M, bonds became operative Sept. 1
1906.
$156,000 of outstanding bonds are held in sink, fund
Bonds are
subject to call on 3 weeks' notice at 105.
V. 92, p. 1311
There are
$181,000 gen. mtge. bonds in treasury in addition to amount reported out¬
standing.
$750,000 of gen. mtge. bonds are reserved to retire 1st mtge.
bonds and $3,036,000 may be drawn for 85% of impts., &c.
Sinking fund
of 1% of gen. mtge. bonds out began Sept. 1 1917, $12,000 held in sinking
fund.
Red. at 105 on 4 weeks' notice.
Int. at office of trustee or office of
agency of co. in N. Y.
Common $5,000,000 ($100)
1st mtge $750,000 gold l$500(
-
--------
—
-
OFFICERS—Pres., H. L. Doherty; V.-P., F. W. Frueauff; 2d. V.-P.,
Mgr.. W. B. Malone; Sec. & Treas., L. H. Archer.
V. 90, p. 914;
& Gen.
336; V. 92,
p.
1113; V. 107,
p.
603; V. 110, p. 2487.-
(a) Hattiesburg Traction Co.
Meridian Lt. & Ry. Co. owns all the stook.
,
ref.
bonds.
Red.
serially up to Nov. 1 1923.
ROAD.&C.—Owns and operates 22.42 miles in and between Mansfield and
Shelby.
Standard gauge 70-lb. rail.
29 passenger motor and 4 other
motor cars.
Power plant at Melco, O., with 10,000 k. w. capacity.
New
10,000 k. w. turbine unit in service Sept. 30 1920,
36 miles transmission
and about 50 miles distributino lines.
37.41 miles of gas mains.
OFFICERS.—Pres., H. L. Doherty; V.-P., Wm. H. Davey; V.-P.,
George C, Biankner, N. Y.; V.-P., & Gen. Mgr., F. A. Chamberlain; Sec.
168, 1189.
& Treas., F. S. Kelseu.—V. 107, p. 1385; V. 110, p.
(9)
St. Joseph Railway, Light, Heat & Power Co.
1 1913 the Cities Service Co. acquired control and now owns
95% of the common stock.
Cities
Service Go. guarantees the
5% div. on the outstanding pref. stock. V. 96, p. 136. See also V. 97, p.366.
On Jan.
over
ORGANIZATION.—Incorp. in Missouri on Nov. 8 1895 as a con¬
solidation of the St. Joseph Traction & Lighting Co., People's Ry., Light
& Power Co., Citizens' Ry. Co., Union Ry. Co., St. Jo?eph& Lake Ry.' Co.
and Wyatt Park Ry. Go.
Controls the entire electric light and power and
central beating business, and owns and operates the street railway system
In St. Joseph, Mo., and an interurban line between St. Joseph and Savan¬
nah, Mo.
Principal railway franchises are perpetual; others expire from
1935 to 1958.
Franchise for electric service unlimited in point of time.
Franchise for heating service expires in 1944.
During 1912 a contract was made with the Kansas City Clay County &
St. Joseph Ry. (see under "Kansas City"), under which that company's
cars from Kansas City are operated over the tracks of this
company.
New Mortgage.—In
a
new
1916 the Mo. P. S. Comm. auth. the company
Issue of 1st & ref. M. sinking fund 5% 30-year bonds, and
to execute, with the St.
Joseph & Savannah Interurban Ry., a joint mort¬
the bonds.
$751,000 of the new bonds were issued, of
$326,000 to replace a like amount of St. Jos. & Sav. Int. Ry. 6s
(paid off April 1 1917 at 102H and int.) and the remainder for extensions
gage to secure
which
and additions.
Rate Increase.'—In June 1918 was auth. by the Mo. P. S. Comm. to in¬
lighting rates to 9 mills per k. w. h., effecting an Increase of $8,000
monthly in revenue.
V. 106, p. 2650.
crease
Fares.—On Dec. 1
1919
a
7-cent fare went Into effect on the co.'s lines
an increase in wages of 8 cents per hour.
while the co.'s trainmen received
V.
109, p. 2440.
Compare V. 107,
In July 1920
p.
2098.
the Mo. P. S. Comm. to raise fares
on
the Savannah interurban line for
period of 7 months.
V. Ill,
For details
was
auth. by
a
494.
On Jan. 7 1920 the co. filed suit against the Mo. P. S. Comm. asking for
a permanent injunction to restrain the Comm. from enforcing a 7-cent fare
InSt Joseph and that the court order an 8-cent fare and high r lLrhiing and
heating rates, the co. contending that prasent rates are c> fiicatory.
V. 110, p. 8^2.
The co. subsequently applied for a 10 cent
see
p.
Valuation.—Early in 1920 the Mo. P. S. Comm. fixed the \;ilue of the
$5,800,000. whih tin- co. holds
110, p. 872.' The co. has ap¬
pealed.
co.'s holdings for rate making purposes at
that $11,521,639 is the fair valuation.
V.
STOCK AND BONDS—
Dale.
Com stock $3,500,000 ($100).
Pref stock
5%
cumulative)
Interest.
....
....
'
5 Q-J
Outstanding.
Maturity
$3,500,000
See text
1,560,000
Oct. '20.1M
$2,500,000 ($100)-.
f
1902
5 g M-N
mtge $5,000,000
5.000.000 Nov 1 1937
gold
($1,000)
c*~cpt i Interest payable in New York,
1st & ref mtge ($15,000,000)
1916
5 g J-J
695,000 July 1 1946
gold ($100. $500, & $1.000) (Interest payable in New York.
First
,
c*.tfj'
STOOK AND BONDS—
Stock $500,000 ($100)
Date.
Interest.
Outstanding
$500,000
.
Maturity.
...
.
1st mtge $300,000
($1,000)1 1908
6 J-J
238,000 Jan
1 1928
gold
r&c*cpt/Int. at Guaranty Trust Co., N. Y.t Trustee
Gen lien mtge $2,500,000 gold f 1912
6 J-J
327,000 July 1 1952
($1,000)
c*cpt{Int. at office or agency of Co. N. Y., or at
(First Nat. Bk., Mobile, trustee.
Bonds.—Skg. fd. retires 1st mtge. by purchase $5,000 bonds annually, be¬
ginning Jan. 1 1909, at a premium up to a 5% basis, bonds cannqt be called.
V. 87, p. 97; $62,000 have been retired.
Of gen. lien bonds<#»$244J)00 are
reserved to retire 1st mtge bonds.
Bonds are callable at 105 & int. on any
int. date on 4 weeks' notice.
Sinking fund, 1%, began July 1 1916.
ROAD.—8.665 miles of track.
Standard gauge,
70-lbs. and over
E.—T rail.
13 motor and 3 other cars.
Power house capacity.
A. S. C.
2,100 k. v. a.; 10.05 miles transmission lines and 26.05 miles distribution lines*
Has 13.18 miles of gas mains.
OFFICERS.—Pres. F. W. Frueauff, N. Y.; V.-P. & Gen. Mgr., H. F.
Wheeler, Hattiesburg; 2d V.-P., H. H. Scott, N. Y.; Sec. & Treas., Howard
McDavid.—V. 93, 731; V. 95, 679; V. 107, p. 802.
Public Service
Co.
„
Bonds.—The
line between St
ref. mtge. bonds are a first Ben on the Interurban
Joseph and Savanna h. Mo., and a general Hen on remaining
1st &
.
property, subject to $5,000,000 1st M. 5s, for retirement of which an equal
amount of 1st & ref. 5s is reserved.
Additional bonds may be issued only
for 85%
of cost of add'ns, exts., &c., under conservative restrictions, or for
85% or 1st M. bonds retired through the supplemental sinking fund.
Sinking fund, 1 % of bonds out, for purchase or red. of bonds of this issue
at 102M, or of 1st M. bonds at 105: or, at option of co.. 2% for construc¬
tion, acquisitions, add'ns or impts.
While any 1st M. bonds are out¬
standing, the co. must pay, as a supplemental sinking fund, an additional
1 % of the amount of bonds of that issue outstanding, to be, applied as above
set forth, or may expend in construction 1% of the amount of the bonds
outstanding.
1st & ref. M. bonds canceled in sk. fd. but 1st M. kept alive
until all bonds have been deposited with the trustee.
First & ref. bonds are
red. ori any int. date at 102H and int.
Trustees are Bankers Trust Co.,
N. Y., and Mississippi Valley Trust Co., St. Louis.
Legal investment for
Maine savings banks.
V. 103, p. 1302.
Trustees for the 1st M. bonds are
the Phila. and Louisville stock exchanges.
Dividends.—5% per ann. has been regularly paid on pref. stock since Oct.
First div. on com. stock paid Dec. 1908, 1%; in 1909, 2%; 1910, 2%.
1911, 2%. In 1912, Mar., H%;June, ^%:8ept.. H%:Dec.,H%.
A
dividend at the rate of 2% per ann. was paid Feb. 1 1913 for the 2 months
1902.
in
succeeding the regular payment in Dec. 1912; dividends were paid quarterly
to Sept. 1919.
•
LATEST EARNINGS —For 12 months ending Dec. 31:
Gross
,
put into effect.
Richland
and
Equitable Trust Co., N. Y., and Missouri Valley Trust Co., St. Joseph.
Bonds cannot be called.
V. 75, p. 1032.
The 1st M.-bonds are listed on
,
ORGANIZATION.—Organized in 1905 as Hattiesburg Traction, Light
& Fuel Co.
Name changed to above in Nov. 1906.
Sept. 2 1907 purchased
Hattiesburg Gas Co. and Hattiesburg Light & Power Co., giving company
control of artificial gas, street railway and electric-light and power business
of city.
Electricity and street railway franchise 25 years from 1906: gas
Franchise expires in 1930.
Has contract for lighting city streets.
Pop.
served, 17,000.
*
Fare Increase.—On Aug. 1 1918 put into effect a 7-cent cash fare with
20 tickets for $1 25.
V. 107, p. 802.
Rate Increase.—On Aug. 1 1920, increased gas and electric rates were
(8)
1st
$2,000,000
-
ROAD.—13.304 miles of track, standard gauge, 70-lb. T rail and 73
to 98-lb. girder and groove.
15 motor and 2 other cars.
Power station
capacity 5,226 k. w., 84.7 miles distribution line.
Has 29.18 miles of
gas mains.
V. 91, p.
trust notes are due
-
—
'
pledge of
by
28 days' notice on the 15th of any month at 102 and int. on or before
Mar. 15 1921 and at 101 and int. thereafter.
V. 110, p. 1189.
The car
on
to create
Cities Service Co.
owns over 99% of Com. stock.
Company owns and operates all the street
railway lines and does an electric light, power and artificial ice business in
the City of Durham, N. C.
Population served, 30,000.
Fare Increase.—In 1920 fares were raised from 7 cents with 4 tickets for
95
.
ORGANIZATION.—Incorp. in Ohio in Oct. 27 1917.
Acquired on
Apr. 1 1918 the property of the Mansfield Public Utility & Service Co. (see
this Section for January, 1918).
Has also acquired the property of the
Mansfield Gas & Light Co.. and the Mansfield Eiec. Light & Power Co.
Does the entire electric railway, electric light and power and a portion of the
gas business in Mansfield and operates an interurban electric railway be¬
tween Mansfield and Shelby.
Natural gas franchise expires in 1936.
Artificial" gas franchise unlimited as to time.
Railway franchises expire in
1925: electric franchise unlimited as to time.
In Sept. 1918 was granted a
25-year traction franchise by the city of Mansfield providing for a straight
5-cent fare until Jan. 1 1920 at which time that section of the ordinance re¬
lating to fares was amended to allow single cash fares of 7 cents each with
4 tickets for 25 cents.
These rates are to remain in force until Jan. 1 1921.
In Mat. 1920 co. Issued $850,000 2-yr. secured 7% notes. V. 110, p. 1189.
Exp. &
Taxes.
12 Months—
1919
1918--
—
-
Earnings.
—--$2,053,384
1,688,284
$1,764,739
1,292,536
Date.
-
-
....
Balance.
$3,845
108,198
,
OFFICERS.—Pres., F. W. Frueauff, N. Y. City; V.-P. & Gen. Mgr..
B. C. Adams, St. Joseph; Sec. & Treas., J. R, Abercrombie, St. Joseph.
V. 107, p. 2098; V. 108, p. 270; V. 109, p. 2440; V. 110, p. 872, 2568;
V. Ill, p.
|494.
(10) Toledo. Ottawa Beach & Northern Ry. Co.
ORGANIZATION.—Incorp. in Ohio on Oct. 27 1906 as a consolidation
of the Toledo & Point Place Ry. Co. and Ottawa Beach & Southern Ry.
Co.
Franchise expires In 1929.
Cities Service Co. owns over 99% of the
co.'s $1,500,000 (auth. and outstdg.) capital stock and all of the outstand¬
ing $450,000 1st M. 5% bonds ($1,500,000 auth.).
ROAD, &c.—Operates an electric railway between Toledo and Toledo
Beach, Mich.; also operates a branch line connecting Toeldo with Point
Place, O.
Supplies energy for light and power service along right of way.
26.59 miles of track (9.84 operated under trackage rights); standard gauge
60-lb. T rail; cars leased.
OFFICERS.—Pres. & Gen. Mgr., Frank R. Coates; V.-P., Rathbun
Fuller; Sec., H. T. Ledbetter; Sec., A. C. Van Driesen.
(11) Toledo Traction, Light & Power Co.—A holding company.
Cities Service Co. has acquired over 95% of the outstanding common and
96% of the preferred stock.
V. 103, p. 1119.
ORGANIZATION.—Incon>. in Maine on Jan. 30 1913 to acquire the
stock and bonds of the Toledo Rys. & Lt. Co. in connection with the re¬
organization of that company per plan in V. 95, p. 1040; V. 96, p. 361,
In June 1916 minority shareholders were given further opportunity for a
limited time to exchange stock on original basis.
V. 102, p. 2344.
Over
93% of the stock has been acauired.
The Toledo Traction, Light & Power Co. owns stocks and bonds of the
following companies:
Interest.
Outstanding.
Maturity.
Stock $3,200,000 ($100)
$3,200,000
1st & re/ M sk fd $8.000,000f 1917
5 g A-0
2,742,000 Oct. 1 1937
gold ($100, $500 & $1,000)(Int. at co's. office or agent, N. Y. or First
c*tf 1
Trust & Savings Co., Cleveland, trustee.
Sec notes $1,500,000 ($100,) 1920
7 g M&S
850,000 Mar 151922
$500 & $1,000) gold
c*tf (Int. at Union Trust Co., Chicago. Trustee.
Citizens Eiec Ry, Lt & Pow\ 1898
5 A & O 1
200,000 Apr. 1 1923
Cons Mtge $400,000 ($500) c J Cleveland Trust Co., Cleve., Trustee.
Oar trust notes..............
7%
32,000 See text.
Charges.
$284,000
287.550
PROPERTY.—60.2 miles of track.
Standard gauge; 50-70-lb. T and
girder rails; 125 motor and 89 other cars,
Generating plant capacity,
22,600 k.w,; 23.29 miles of primary and 271.89 miles distributing lines.
.
STOCK AND BONDS—
Net
Earnings.
$288,645
395,748
Name of Company—
Toledo Iiys. & Lt. Co—
Total
-
Tot. Bds.
Bonds
Owned.
Outstan'g.
Acme Power Co
-
-
$4,000,000
-14,495,000
$4,000,000
12,286,600
$18,495,000
% Com.
Slk. Owned
100
$16,286,600
4
93.4364
Acme Power Co. owns and operates a steam generating station on
Maumee River at Toledo, with an installed capacity of 40.000 k. w.
V.
1893.
Entire output delivered to Toledo Rys.
capacity, 200,000 k. w.
p.
& Lt. Co.
the
109,
Ultimate
Light Co. supplies without competition, electric light
and street railway service in Toledo and suburbs, operates a
and distributes by-product gas. 118.058 miles
track; standard gauge; rails, 100 lbs. A.R.A. type A; 378 motor cars and
other cars.
Power station capacity 63,930 k.w.
Toledo Railways &
and power
central station heating plant
of
23
[Vol. 111.
ELECTRIC RAILWAYS
96
Appointed for betterment Fund.—On April 10 1916 the Federal
appointed Oapt. John Oraig trustee for a betterment fund
6% of the gross weekly income of the street railway lines
the fund and used exclusively for unusual betterments
purchase of new equipment.
V. 102, p. 1437.
(Compare V. 102.
will have an ultimate
200,000 to 300,000 k.w.
H. L. Doherty; V.-P.'s, Frank W. Frueauff and
Thos. I.Carter: Sec.EdgarE.McWhiney; Treas.. Louis F. Musil.—V. 106.
p. 1345; V. 109, p. 73, 1893, 2074, 2264, 2357; V. 110, p. 1643.
has an installed capacity of 40,000 k.w. and
tion
capacity of from
OFFICERS.—Pres..
Trustee
for the property.
as to be paid into
land for
P"Franchises.—At
feated
an
the proposal
election held Nov. 2 1915 the citizens of Toledo de¬
new franchise for 25 years.
to grant the company a
101, P- 1554.
All the principal street railway franchises have expired
and cars are being operated without franchise.
Electric light and power
V.
gas
and heating franchisee unlimited
Community Ownership Plan.—In Oct. 1917
and
in time.
the Street Railway Comm.
agreed upon a plan, which provides for the organization
of a new company, with a new 25-year franchise, to be called the Community
Traction Co., to which the street railway property (exclusive of the power
plant and electric distributing system) would be transferred.
See V. 105,
p. 1803; V. 106, p. 716.
Fares.—On March 30 1914 Judge Killits denied the application to
enjoin the enforcement of the ordinance providing for 3-cent fares, largely
on the ground that the matter was one for the State courts.
V. 98. p.
1073.
On Aug. 14 1914 Judge Killits, on the further hearing
of the
application of the company, ordered the city to prove that the terms of
the ordinance were reasonable.
On Sept. 12 1914 Judge Killits held that
the ordinance was unfair and confiscatory and granted a temporary injunc¬
tion restraining its enforcement.
A temporary fare schedule was put into
operation Sept. 15 1914 providing for a 3-cent fare from 5:30 to 7:30 a. m
and 4:30 to 6:30 p. m., with six tickets for a quarter other hours (V. 99, p.
818), but the 3-cent fares were abolished in April 1916 after advance in
wages following the strike.
Effective May 9 1918 the company instituted
a Btralght 5-cent fare (children under 8, 1 cent), with a 1-cent charge for
transfers.
V. 106, p. 2124.
The increase followed an increase of 6 cents
per hour in carmen^ wages.
On Aug. 2 1918 Judge Killits in the U. S.
Dist. Court at Toledo refused the petition of the city of Toledo for a per¬
manent Injunction to prevent the company from increasing its rate of fare.
V. 107, p. 803.
The city appealed but on June 7 1919 the Federal Court of
Appeals upheld the decision of the lower court.
V. 108, p. 2434. On June
25 1919 the co. increased fares to 6 cents cash with 2 cents extra for transfers
The co. had recently advanced the wages of its car men 8 cents per hour.
V. 109, p. 73.
On Nov. 4 1919, as a result of this fare increase, the people
of Toledo voted to oust the company from the streets.
The company im¬
mediately suspended the operation of its street railway system and removed
its cars to the State of Michigan.
On Dec. 5 1919 the company resumed
operation of its street cars at the same rate of fare which prevailed previous
to the suspension of service.
The company's requests were granted by the
court and inserted in the formal order for resumption of operation.
For
fuller particulars see V. 109. p. 2263,2357.
Compare V. 109, p. 2172,1988,
1893; V. 110, p. 466, 659.
On Aug. 10 1920 the voters rejected an ordinance
providing for the issuance of $7,000,000 city bonds for the purchase of a
transportation system. V. Ill
p. 693.
Compare V. 110, p. 2388, 2488A service-at-cost franchise drawn up by a commission appointed by the
court (headed by Chairman Milner) which places the valuation of the
street railway property at $8,000,000 has been accepted by H. L. Doherty
and was passed by the City Council on Sept. 27 1920.
This franchise will
be placed before the people at the general election to be held Nov. 2 1920,
together with the twin bond ordinances providing for an issue of $7,000,000
to acquire and build a municipally owned railway.
V. Ill, p. 190, 494,
1280
1473
'
'
.
•
I
In'April i920 Judge Killits authorized the company to increase fares to
7 cents easn (3 tickets for 20 cents) with a 2-cent charge for transfers, in
order that the company might meet the increased wage demands of its
employees, who had gone on strike.
V. 110, p. 1527.
On May 22 1913 the Ohio P. 8. Comm. sot aside the action of the City
Council, which (on Jan. 29 1912) granted the company a new franchise foi
5 years, but made the flat rate of 70c. per 1,000 cu. ft. for artificial gas for
both illuminating and fuel.
The Commission allowed the old rate of 90c
for gas for illuminating purposes.
V. 96, p. 163.
Rates.An increase averaging about 37H % in heating rates, effective
Sept. 5 1917, was approved by the Ohio P. U. Commission,
In Sept. 1920
a new schedule was filed with the Ohio P. U. Comm. providing for increased
and the company
111
^
ratios
'
Dec.'
In
p,
ORGANIZATION.—Incorp. in Colo, in 1906 as the Northern Colorado
Name changed to present title in July 1914.
Owns and con¬
trols Cheyenne Light, Fuel & Power Co.
The Western Light & Power Co. does the electric lighting and power and
electric railway business in the city of Boulder; also supplies electrical energy
Power Co.
light and power service in a number of communities in Northern Colo¬
rado.
Supplies energy for operation of the Denver & Internrban RR. Co.
and the street railway at Fort Collins.
Through its subsidiary, the
for
Cheyenne Light, Fuel & Power Co.
the company does the electric light¬
ing and power, artificial gas and steam-heating business, and supplies en¬
ergy for operation of the street railway system at Cheyenne, Wyo. _ Popula¬
tion of communities served is in excess of 80,000.
brought out $10,000,000 first lien 7% 2-year
gold bonds to refund inpart an issue of $10,500,000 similar bonds due Jan. 1
1920.
V. 109, p. 2357.
The $1,200,000 second lien 7% 3-year conv. bonds, due Jan. 1 1921, which
were called for payment Jan.
1 1920, were converted, prior to that date,
into Cities Service com. and pref. stocks.
In Dec. 1919 the co. brought out an issue of $3,000,000 3-year 7% con¬
vertible debentures.
Date.
STOCK AND BONDS—
Common
$2,000,000
7%
1,000,000
1915
5 g M-Nl
2,275,000 May 1 1925
& $1,000) gold
o*j Franklin Trust Co., N. Y., Trustee.
CheyenneLt.Fuel&PowlstMl 1900
5 gJ-Jl
175,000 July 1 1925
$175,000($100&$l,000)g.c*/Amer. Loan & Trust Co., Boston, Trustee.
_ — .
STOCK.—81.456% of com. stock and $716,225
by Cities Service Co.
Cheyenne Lt,, F. & P. 1st M. bonds at maturity.
by lot on any int. date or on 60 days' notice at par
have
sinking fund of $4,000 per annum.
a
ROAD.—Overhead trolley, 10.7 miles: gauge, 3 ft.
other cars.
Total power plant capacity, 8,350 k.w.
mtge $2,500,000
($1,000,/Interest at Ohio Savings Bank & Trust Co..
$500 and $100) not redeem J
Toledo, trus., or Nat. Bk. of Comm.,N.Y.
Coke Col 1898
6 M-N
150.000
See text
$150,000 ($1,000) guaran-ilnt. at Second Nat. Bank, Tol.; O.F.Adams.
teed prin and lnt
1
care Second Nat. Bank, Toledo Trustee
Tol Heat & Ltg Co $600.0001
1901
5 J-J
333.000 Jan 1 1921
($1,000) guar prin & int.../Int. at Secur. Sav. & Tr. Co., Tol., Trustee
Car trust ctfs. & real est. mtge.
198,000
Toledo Gas Light &
bonds
6 in.; 7 motor and 6
OFFICERS.—Pres., F. W. Frueauff; 1st V.-P., D. A. Hegarty; 2d V.-P.,
J. Barker; Gen. Mgr., C. A. Semrad; Sec., Paul R. Jones; Treas.,
Office, Boulder, Colo.
Wm.
Louis F. Musil.
GENERAL GAS & ELECTRIC CO.—See "Ry. &
Indus." Section.,
newburgh, n. y.
ORANOE COUNTY TRACTION
CO.
ORGANIZATION.—Organized Oct. 16 1901 and acquired the Newburgh
Ry. Co., sold under foreclosure.
The Newburgh Electric 1st
mortgage bondholders and the Walden <fc Orange Lake RR. and the New¬
burgh & Orange Lake RR. agreed to a reduction In their Interest from 6%
to 5%.
See V. 73, p. 138.
Fare Increase.—In Dec. 1917 the P. S. Comm. auth. the co. to increase
fares in Newburgh from 5c. to 6c.
Electric
STOCK AND BONDS—
Maturity.
Outstanding.
Interest
Date.
-
$150,000
Stock $150,000 ($25)
Pf $175,000 6% n-cum
-
($25)—
I
175.000
First and refunding mortgage/ 1910
5 J-J
264.000 July
$750,000
tflUnion Trust Co.. Albany, trustee.
11960
($250,000)./ 1894
5 g M-N
250.000 May 1 1S44
gold ($500) not red ..—tf lint, at Columbia Tr. Co.. Trus.. N.Y. City.
Newb Elec 1st M
Walden & Orange Lake
first/
100,000 June 1 1945
5 g J-D
1895
tfllnt. at Hamilton Trust Co.. Brooklyn.
Mj 1894
5 g J-J
75,000 July 1 1944
& 1 guar._c*tf (Int. at Columbia Tr. Co.. ^rus., N.Y. City.
mtge gold guar p & 1
Newb & Orange Lake 1st
g
($500)
p
Bonds.—$425,000 1st & ref. bonds are reserved to retire prior liens and
remainder for improvements, &c.
V. 90, p. 1425; V. 92, p. 1566.
Int. on
all above bonds is also payable at Quassaick Nat. Bank, Newburgh, N.Y.
1919, gross, $237,947; net, after
$46,682; bal.,isurplus, $2,021. In 1918,
taxes, $43,302.
EARNINGS.—For year end. Dec. 31
taxes, $18,703; other deductions
gross,
$203,693;
net,
after
ROAD.—Owns 20.606 miles of track; 45 passenger and 10 other cars.
V.-P., A.L.J.
OFFICERS.—Pres.. B.B.Odell:
Miller;
Odell; Sec., B. Bryant Odell; Genr. Mgr., Frederick S.
V. 90. p.
Treas.. H.
Berry.V. 83,
P-
B.
688;
1425; V. 92, p. 1566; V. 100, p. 1511.
newport, r. i.
NEWPORT & PROVIDENCE RY. CO.
STOCK AND BONDS—
,
aside to retire the
Are red. all or in part
and int.
Sink, fund is
The Cheyenne Lt., Fuel & Power
provided for under the indenture.
ORGANIZATION.—Incorporated
Interest.
Outstanding.
Maturity
Date.
$7,847,768
$9,200,000 ($100)
See text
6,661,675
Pref $8,000,000 ($100) 6% cum ....
10,000,000 Dec 1 1921
7g J-D
First lien $15,000,000 ($500 & 1
1919
N. Y.Tr. Co., N.Y., trustee.
$1,000) gold
c*.tf lint, in N.Y.
7 g J-D 1
3,000,000 Dec 1 1922
3-yr conv debens $8,000,000\ 1919
($100, $500 &$1,000)-C*.tf/Bankers Trust Co., New York, Trustee.
Toledo Gas Elec & Heat Col
1905
5 A-O
2,013.000 Oct
1 1936
of pref. stock is owned
Bonds.—Of the remaining 1st M. 5s sufficient are set
\
Common
Maturity.
Outstanding.
$2,000,000
Interest.
($100)
Pref $1,500,000 ($100) cum_
1st M $6,000,000 ($100, $5001
10^4*
1919 the company
Light & Power Co.
Western
(12)
Court at Toledo
STOCK AND BONDS—
In
1892.
Interest.
Date.
Outstanding.
$300,000
150,000
$300,000 ($100)
Pref $150,000 ($100) non-cum
Common
1st mtge $300,000
($500)
/ 1912
Maturity.
..
300.000 July
5 g J-J
11932
subject to call at par.c cptllnt. at Augusta (Me.) Trust Co., trustee.
'
EARNINGS.—For years ending Dec. 31:
Year ending—
Dec. 311919
Dec. 311918
Int.&Depr.
Taxes.
$8,324
4,488
Net.
$30,764
73,125
Gross.
$160,584
196,759
Sur.orDef.
def.$6,720
$29,160
33,947
sur.34.690
ROAD.—Operates about 15M miles of track from Newport to Bristol
Ferry, where connection is made by ferry to Providence; 70 and 90-lb. T
girder rail.
18 cars.
and
OFFICERS.—Pres., Edward A. Brown, Newport; Sec., Clark Burdick;
Treas., Geo. E. Macomber, Augusta, Me.
V. 95. p. 1403.
Supt.. Geo. M. Towle, Newport.
BONDS.—Remaining first lien bonds are reserve for improvements, &c.,
at 75% of cost and under certain conditions.
The bonds are secured by
deposit of the following securities: $5,999,000 (all) Toledo Trac. Co. 5%
(now 6%) cons. 1st M. bonds; $6,000,000 (all) Toledo Rys. & Light Co. 4%
(now 6%) cons. 1st M. bonds; $4,000,000 (all) Acme Power Co. 1st M. 7%
bonds; $137,600 (out of $2,013,000) Toledo Gas. Elec. & Htg. Co. 5% cons,
bonds; over 93% ($12,964,300) of the $13,875,000 capital stock of The
Toledo Rys. & Light Co.; all the $4,500,000 capital stock, except directors'
qualifying shares, of the Acme Power Co.; also any and all stocks, bonds and
other securities hereafter acquired by the company.
Red. as a whole (but
not in part except upon terms set forth in trust indenture) on the first day
of any month on four weeks' notice at 101 and int. on or before Dec. 1 1920,
and thereafter at 100^6 and int.
Additional bonds of this issue may be
issued for 80% of cash cost or fair value of extens. and additions under
certain restrictions.
Pennsylvania 4 mills tax refunded.
The trust inden¬
ture
provides that if the Toledo Rys. & Light Co., for the purpose of accept¬
ing a new street railway franchise from the city of Toledo, shall desire to
effect the release of the strictly street railway property from the lien created
by said indenture, such release may be effected upon payment to the trustee,
for the redemption of outstanding bonds of this issue, of cash to an amount
not less than $1,900,000.
V. 109, p. 2357.
The Toledo Gas, Electric & Heating Co. bonds are guaranteed by endorse¬
by the Toledo Rys. & Lt, Co. They are not subject to call. The
and Toledo Heating & Lt. Co. are guar., prin. &
Tol.
int.,
by the Tol. Lt. & Rys. Co.
Former issue was extended to July 1 1909,
then to Jan. 1 1912, at which time the holders decided to allow them
to run to no definite date at 6%.
ment
Gas Lt. & Coke Co.
Convertible Debentures.—Are convertible at option of
holder at
any
time
1920 into an equal amount of Cities Service Co. Ser. "D" 7%
conv.
debentures (see under "Cities Service Co." above).
In order to
secure this conversion privilege to the holders of the co.'s debentures the
Cities Service Co. has deposited with the Bankers Trust Co. $3,000,000 of
its Ser. "D" 7% conv. debentures to be held subject to the exercise of the
after July 1
conversion
privilege.
The remaining $5,000,000 of the co.'s debentures are
only under certain restrictions of the trust agreement.
Are call,
in part any time on or before Dec. 1 1920 at 102%; thereafter to Dec. 1
at 101% and thereafter befroe maturity at 100'A%.
issuable
all
or
1921
EARNINGS.—Of the Toledo Rys. &
Yr.end.Jly.31.
Light Co. and allied roads;
Years ending Dec. 31
1917.
1916.
1919.
1918.
earnings.
$8,559,552
Net, after taxes
2,002,755
$7,551,931
1,952,223
•Gross
$5,653,013
1,900,175
1,844,623
miles of track.
1918. This sta¬
$6,353,240
ROAD, &c.—Street railway lines in Toledo, about 119
.A new central generating station was completed in March
newtown, pa.
PENNSYLVANIA-NEW JERSEY
RAILWAY
CO.
Controlled by the Bucks County Syndicate.
ORGANIZATION.—This
was
formerly the Bucks County Interurban
Ry., but corporate title changed under
vania-New Jersey Ry. Co.
date of May 15 1917 to Pennsyl¬
The Bucks County Interurban was Incorpor¬
in Penna. as a consolidation of the Bucks County Electric
Ry., Trenton New Hope & Lambertville St. Ry., Yardley Morrisviile &
Trenton St. Ry. and Newtown & Yardley St. Ry.
V. 96, p. 1555.
Acquisitions.—On May 15 1917 acquired $500,000 of the $1,000,000
of the N. J. & Pennsylv. Trac. Co. (which see under "Trenton, N. J."),
the remaining $500,000 being canceled, and the stock of the Trenton City
Bridge Co., and the Pennsylvania New Jersey Pow. & Lt. Co. (now
Bucks County Electric Co.), all controlled by the Bucks County Syndicate.
Fares.—Effective Mar. 25 1918 was auth. by the P. S. Comm. of Penn¬
sylvania to increase fares from 5 to 6 cents, and on Sept. 26 1918 a further
increase, to 7 cents was authorized, on account of a wage award by the
ated May 13 1913
National War Labor Board.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$497,400
Common $500,000 ($50)
$500,000 ($50)
6%
500,000
1st M. & Coll Trust g $3,000.-1 1917
5 g F-A
1.250.000 Feb 1 1942
000($500&$l,000)redl02H Jlnt. at Northern Trust Co., Phila., fisc. agts.
Pref 6% cum
EARNINGS.—For
(after taxes), $17,989.
12
mos.
ending Dec. 31
1919,
gross,
$239,326; net
In 1918, gross, $258,357; net (after taxes), $40,502.
ROAD.—Operates 49.49 miles extending from terminal in Trenton
through Morrisviile and Yardley, Pa., to New Hope, Pa., and Lambertville
N. J., from Yardley to Newtown; also from Bristol to Doylestown via
Newtown.
Leases .2 miles in Doylestown and has trackage rights over
Trenton
to
City bridge and tracks of New Jersey & Penna. Traction in Trenton
Terminal at Warren and Hanover.
Gauge, 5 ft. 2\i inches.
OFFICERS.—Pres., Sydney L. Wright; V.-P & Gen
Mgr..
Thompson; Sec. & Treas., John M. Morrissey.
niagara
Gaylord
Phila. office, 133 S. 5th St
falls, n. y.
NIAQARA QORQE RY.
ORGANIZATION.—Incorporated In New York June 3 1899 as successor
to the Niagara Falls & Lewiston, sold at receiver's sale May 23 1899.
Ex¬
tends from Onondaga St., Lewiston, along the bank of the Niagara River
to the City of Niagara Falls.
Was formally opened July 1 1899.
Also con-
Oct., 1920.)
ELECTRIC RAILWAYS
gob the. franchises or the
Buttery
Whirlpool Rapids Co.. the Niagara
Windham and Coventry, Conn., and
any town where a company is already
the consent of that company; also to acquire stocks,
bonds, &c., of any Connecticut electrical company.
V. 104, p. 2344.
Dismantlement of Certain Lines.—On July 15 1919 ceased
operating the
lme from New Haven to
Chester, also the line from Sayb"ook to Flanders
Corner.
In March 1920 it was
reported that the co. would shortly set
about removing the rails and other
equip, of the line from Atlantic Beach at
New London to Weekapaug.
V. 110, p. 971.
See also V. 110, p. 1189.
In Oct. 1920, however, we were
informed, that this had not yet been done.
In July 1920 Judge Hinman of the
Superior Court approved the sale of about
50 miles of trolley line extending from New Haven to Old
Saybrook, Chester,
Guilford, Stony Creek, Bramford, Flanders Corner and East Lvnne.
The
purchaser (price about $340,000), the United States Rail & Equip.
Co.,
purposes to dismantle the line immediately and dispose of the mate rial and
equipment as junk.
V. Ill, p. 494.
Compare V. 110, p. 2568.
In Sept.
1920, it was stated that the work of removing these tracks was under way.
V. Ill, p. 1084.
We understand, however, that efforts are being made by
residents along the line to save certain portions.
In fact it is reported that
options have been secured from the purchaser on about 16 miles of line at
about $10,000 per mile.
It is the intention of the citizens to purchase the
line and then turn it over to the Connecticut Co. for
operation on a cost-plus
basis.
V. Ill, p. 1279.
Fare Increase.—In Aug. 1918 was auth. by the I.-S. C. Comm. to in¬
crease fares between points in Connecticut and Rhode Island. V.
107, p. 803.
Appraisal.—For details of appraisal filed with the Superior Court in
July 1920, fixing valuation (mostly on scrap basis), at $1,907,766.
See
Y• 111, p» 295.
Appeal for State Relief.—See Connecticut Co. under New Haven, Conn.
Rapids View Co. and the Niagara Whirlpool Rapids Elevator Co. Has
agreement with the Niagara Palls Park & River Ry. Co. allowing cars of the
Gorge road to run over that company's lines across the arch and
Suspension
bridges to Table
Rock and
Dufferin's Island.
Leases
the
Lewiston
'
STOCK ANT
F^PtietT
RR.
BONDS—
and
Date.
owns
all
Interest.
Fl^ n5Srtg?Se
In operation except with
of
its stocks and bonds.
Outstanaing.
Maturity.
$1,000,000
Stock. $1,000,000 (f 100)
SI.000.0001
1907
5 g J-D
949.000 June 1 1927
c&r/Int. at Commonwealth Tr. Co., Buffalo, Tr
bonds are in treasury
ROAD.—Owns 15.8 miles of track from Niagara
Falls to Lewiston and
leases
Lewiston &
Youngstown Frontier Ry., 8-7 miles; total operated,
24.6 miles.
Also has trackage rights over 1 mile of double track of
Inter*
national Ry in Niagara. 53 passenger cars, 17 service cars and
1 snow plow.
EARNINGS.—For fiscal years ending Dec. 31:
($1,000) gold
Bonds.—$51,000
Cal.
Year—
Gross.
1919
$196,730*
Net,aft.Tax. Oth.Inc.
$53,993
$909
J36-292
30*671
Int..Rent,&c.
$57,758
Balance
def. $2,856
65,015
def. 33,475
869
OFFICERS.—Pres., Mrs. Joseph T. Jones; V.-P. & Gen. Mgr.. Bert L.
Jones; Sec., Grosvenor L. Corliss; Treas., Kendall B. Hassard. all of
Buffalo;
Aud.. A. B. Einer, Niagara Falls.
General offices, Niagara Falls, N, Y.—
V. 84. p. 868.
(1)
Lewiston & Youngstown Frontier Ry.
Aug. 1895.
ORGANIZATION.—Chartered
Owns
from
Lewiston
to
Youngstown and Ft. Niagara, 7.5 m.; sidings and switches, 2 m.; total. 7.7 m
Is
leased
by
th
Niagara Gorge RR., which also owns all of Its
stock
and
bonds.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Stock, $150,000 ($100)
First
$150,000?
mortgage
($1,000) gold.
1896
STOCK AND BONDS—
Common/Seel
Preferred!text)
1 1916
c*\Int. at Buffalo L.. T. & S. D. Co.. Buff.,Tr.
NORTHAMPTON, MASS.
RR.
Comm.
Feb.
26
1873.
On
Jan.
7
was
Stock $850,000 'par $100)
Notes payable Dec. 31 1919
$850 000
end.
ROAD.—Receiver in Oct.
all owned
In
1920
by receivership estate.
New Haven
over
Dec. 31 1019, gross, $1,238,469; net
1918, gross, $1,578,739; net, surplus,
operating about 72 miles of track,
Gauge 4 ft.
inches.
Entrance to
was
tracks of Connecticut Co.
Private
right-of-way exeept
through towns.
OFFICERS.—Pres., R. W. Perkins; V.-P., F. deC. Sullivan; Sec. &
Treas., A. E. Sherman.—V. 109, p. 1367, 1527; V. 110, p. 168, 971, 1189,
1749, 2568; Y. Ill, p. 295, 494, 1084, 1279.
Divs.,Ac.
OAKLAND, CAL.
Oct.'17.2M
SAN
35,000
-
year
after taxes, $193,508.
after taxes, $15,944.
auth. by the Mass. P. S.
A-O
Z1
.
EARNINGS.—For
Mnuancc of sale of ticket hooks between Northampton and Wlllfamsburgl
In July 1918 wat auth. by the Mass. P. S. Comm. to establish additlona
zone systems. In lieu of the
proposed increase from 5 to 6 cents in the fare
Effective Jan. 30 1919,
-
2.600,000
deficit,
that the increase in the unit of fare from 5 cents to 6 cents was unreasonable
and excessive (V. 87. p. 1605; V. 88. d 625), approved an increase in cash
fares between Northampton and Easthampton to 10 cents and the discon
Y. 107, p. 83.
-
—
-
Bonds.—Groton & Stonlngton bonds have no sink, fd., but are
subj. to
call at any time at 120 and int.
Trustee Is Treasurer of State of Con¬
necticut.
Mass
company to issue $300,000 additional stock, of which
$200,000 was used to pay off $200,000 bonds that matured June 1 1910
V. 92. p. 322.
On June 24 1913 the Mass. RR. Comm. auth. $150,000
additional stock.
V. 96. p. 554.
Fares.—In May 1910 Mass. RR. Comm., having decided in Feb
1909
unit.
I
—
Debenture "B" bonds
1911
auth.
Comm. to increase fares from 5 to 7 cents. V. 108, p. 172.
STOCK. Ac.—
Interest.
Outstanding.
Interest.
($100)
($100)
_
NORTHAMPTON STREET RAILWAY.—A trolley road.
ORGANIZATION.—Chartered
Date.
Outstanding.
Maturity.
$700,000
300.000
i
Firs.t mortgage bonds
2,725,000
Groton & Stonington 1st Mf 1904
5 g J-J
475.000 July 1 1924
gold (assumed) ($1.000)._ctInterest at international Trust Co., Boston.
Debenture "A" bonds
1,000,000
Maturity,
$134,000
150,000 June
6 g J-D
97
FRANCISCO-OAKLAND TERMINAL
RYS.
Dtiiaends.—1901, 8%, in 1902. 8%; In 1903, 8%; in 1904, 6%; in 1905.
6%; on Dec. 27 1905. 3H%; In 1906. 3K%; In 1907. 7%, In 1908. 6%: In
ORGANIZATION.—Incorp. in
consolidated the following (V. 94,
1909.
Oakland Traction Co.
I
East Shore &
Suburban Ry. Oo,
San Fran. Oak. & S. J. Cons. Ry.
|
California Railway.
The San Fran.-Oak. Term. Rys. assumed the total bonded debt of
the
Jan..
&H%.
Ih
None since.
In 1913
2H%; in 1910, Oct.. 2%: In 1911 and 1912. 5%.
1914 to and incl. Oct. 1917 at the rate of 5% per annum
.
204,918
22,537
22,007
sur.
March
The Sacramento Short Line and San Jose Short Line,
in California in the Interest of the San
3 snow plows and 94 electric motors.
EARNINGS.—For year ending Dec. 31:
Year—
Gross.
Net. Int., Taxes, Ac.
Balance.
1919
$276,768
$30,257
$18,449 sur.Sl 1,807
passenger car*.
——
on
21
1912.
Has
merged companies.
ROAD.—Owns 27.490 miles of track, including extension to Holyoke
extension from
Mt. Tom Junction
to Easthampton.
Operates 47
and
1918
OFFICERS.—Pres.. H
California
912);
p.
the
former
with
Incorp. Jan. 21 1911
Fran .-Oakland Term. Rys.
System,
$10,000,000 stock and the latter with $8,000,000 stock,
In the San Fran.-Oak. Term. Rys.
Operates the street railway lines of and connects Oakland, Berkley,
Alameda, Richmond, Emeryville. Piedmont, Albany, San Lorenzo. San
have been merged
530
Leandro
M. Tyler; Treas., H
J
Campbell; Gen. Mgr.
L. D. Pellissier, all of Northampton.—V. 92,
p. 322; V. 96, p. 554, 1840;
V. 99, p. 675; V. 107, p. 83, 604; V. 108, p. 172.
and
Hayward.
Also
connects
Oakland,
Piedmont and
Berkley,
Emeryville,
Albany with San Fran, by electric train and ferry service.
Interest Payments.—AH July 1915 Interest was defaulted, but within six
months' grace allowed, the company completed the payment in full of all
the
NORWALK,
OHIO.
July 1915 coupons (V. 102, p. 251).
The company has been paying
coupons as funds become available. V. 106. p. 106. 397, 1462.
1689,2230; V. 107, p. 1288,1748; V. 108, p. 172, 581, 880; V. 1101, p. 1749.
subsequent
SANDUSKY NORWALK & MANSFIELD ELEC. RY.—A trolley road.
Resetter ship.—On Nov. 15 1912 C. G. Taylor was appointed receiver for
the eompany and the controlled Plymouth & Shelby Traction Co., to suc¬
ceed C. B. Brooks (Treas. of the company), Geo. B. Dusinberre and Wilbur
Hoyt, who had been appointed receivers
on
Jan. 4 1912.
On July 1 1913
the Plymouth & Shelby Tr. Co. was released from the receivership, but on
Nov. 15 19,17 was again placed in the hands of C. G. Taylor as receiver,
because of question as to ownership.
and $200,000 bonds.
It has outstanding $200,000 stock
ORGANIZATION.—Private right of way except in cities, where fran¬
chises run 25 years from 1904.
Fare Increase.—In July 1918 was auth. to Increase the mileage
charge
effective Aug. 1 1918.
V. 107, p. 402.
Reorganization Plan.—In July 1919 minority bondholders of the co. were
reported as having approved a reorganization plan submitted by the majority
bondholders calling for (a) the retirement of the bonds in favor of a $400,000
stock issue; and (6) an assessment of 10% of the face value of the bonds
held, to give the co. funds to pay urgent debts and for working capital.
V. 109, p. 371.
The receiver, however, on Aug. 6 1919 wrote:
"While
there is an effort being made to reorganize the property, I do not think that
any definite plan has been made up to this writing."
Y. 109, p. 578,
but see V. 110, p. 466, 872.
No later Information.
In March 1920 an organization was formed to prevent this road from
being abandoned anjl sold for junk.
The following committee has been
appointed to raise funds and take other necessary steps: Frank G. Jones and
Eugene Englert, Norwalk; C. R. Irwin and Wilbur Hoyt, North Fairfield;
O. IT. Ernest and Charles McCinchus, Plymouth, and Taylor Bealman,
Willard.
V. 110, £. 1090.
No later information.
STOCK AND BONDS—
Common $360.000
Date.
-----
Pref, $240,000
First
non-cum
Interest.
-
Outstanding.
-
-
$600,000.1
Maturity.
$360,000
240,000
-
5 J-D
600,000 June 1 1924
gold
Jlnt .atSecurlty Sav .Bk .&Tr .Co. .Toledo ,Trus.
Bonds.—Redeemable on any int. day on 90 days' notice at 110 and int.
Sinking fund $5,000 per annum June 1 1909 to 1913 inclusive; 1914 to 1918,
Inclusive. $10,000; 1919 to 1923
inclusive, $20,000.
EARNINGS.—For year ending Dec. 31
1919, gross, $57,296; net,
$2,017; taxes and rentals, $3,937; balance, deficit$1,920; in 1918, gross,
$50,88$; net, $5,833; taxes, int. on receivers' certifs., &c., $4,044; balance,
$1,789.
mortgage.
1904
ROAD.—Operates 30 miles of track from Norwalk through towns of
North Fairfield, Steuben, New Haven and Plymouth, to Shelby, where
connection is made with the suburban lines of Mansfield; also a 2^-mile
extension to Willard. Ohio.
Standard gauge, 70-lb. T rail.
OFFICERS.—Receiver, C. G. Taylor.—V. 110,
p.
466, 872, 1090.
*
NORWICH, CONN.
THE SHORE LINE
ELECTRIC RY. CO. (Connecticut).
Receivership.—On Oct. 1 1919 Pres. R. W. Perkins was appointed re¬
co. by Judge J. H. Reed of the Superior Court, on application
ceiver for the
of the estate of the late Morton F. Plant.
V. 109, p. 1367.
Foreclosure Proceedings.—In Jan. 1920 it was reported that the
Default.—In July 1918 the co. announced Its inability to pay off the
$1,121,000 Oakland Transit Co. 1st M. 6s due July 7 1918.
Interest pay¬
ments on this issue are being continued pending reorganization.
Financial Readjustment.—The committee appointed to consider
plans for
financial readjustment in its report dated May 16 1916 recommended
post¬
poning reorganization until fundamental changes have been made In the
nature and terms of the co.'s franchises as a guaranty of protection to new
capital.
(See city's partnership plan below.)
For report In detail, see V.
102, p. 2343.
Committee: F. B, Anderson, George A. Batrhelder, J, F.
B. H. Dlbblee, John S. Drum, M. Fleishhacker, W, W. Garfchwalte, Edward J. McCutchen, John D. McKee, Percy T. Morgan, A. F.
Cariston,
Morrison, G. K. Weeks.
City Partnership Plan.—The electors of Oakland on Nov. 7 1916 voted In
favor of the charter amendment authorizing the city to go into
partnership
with the co., in accordance with the
plan of the Oakland Chamber of Com.
drawn up with a view to settling the co.'s financial and operating diffi¬
The plan provides: (a) The co. to be granted a resettlement fran¬
chise of an Indeterminate period on condition that the city may
buy out
merce
culties.
the system on
6 mos.' notice and may transfer such purchase right to a third
party; (6) net profits to be divided between the city and the co., the city
to get not less than 55%, the company to be allowed 6% on Its valuation
ana
a
proper amount for maintenance, operatloti, taxes. Insurance and
depreciation; (c) operations to be conducted by a Joint board consisting of
two, one for the city and one for the company, an arbiter to be called In in
case of disagreement.
The plan also provides that the Mayor appoint
an advisory board of seven to co-operate with the Citv Council In
drafting
the franchise ordinance.
See V. 103, p. 759.
Applications for re-settle¬
ment franchises were made to the common councils of Oakland,
Berkeley
and Alameda whi di resulted in the oreparation of such franchises and the
petition to the Cal. RR. Comm. by the cities of Oakland and Berkeley, re¬
questing a valuation of these properties for the purpose of facilitating the
submission of these franchises to a vote of the people.
Valuation.—After a most exhaustive investigation, the Cal. RR. Coram
on May 24 1915 handed down Its decision holding the reproduction cost of
the company's physical property as of June 30 1914 to be as follows:
Op¬
erative property, $20,354,747; non-operative. $6,558,118; total,
$26,912,865; adding ca*h expenditures for capital purposes from June 30 1914 to
Dec. 31 1919, $1,804,975, making the reproduction cost as of Dec. 31 1919
$28,717,840.
Foreclosure Suits.—The Anglo-ualifornlaTrust uo. of San Fran., as mort¬
gage trustee, has brought suit against the United Properties Co., Dennis
Searles and stockholders of the Oakland Rys. for recovery on the $2,500,000
note issue of the Oakland Rys. (see table below) In order to protect the
noteholders in the event that the proposed reorganization of the San Fran¬
cisco-Oakland Terminal Rys. is not carried through.
V. 101, p. 615.
The
Trust Oo. has also begun legal proceedings to preserve or enforce the rights
of the holders of the $1,100,000 6% Oakland Terminal Co. notes.
V. 105.
p. 820.
In Sept. 1920 F, C. Peters, a bondholder, brought suit in the Superior
Court at San Francisco to compel the directors to levy an assessment against
the $28,175,000 capital stock in order to raise money to pay the int. on the
bonds which is alleged to be in default since July 1918.
V. Ill, p. 1184.
Fare Increase.—In June 1918 was auth. by the Cal. RR. Comm. to In¬
crease ferry and electric fares by 10%.
V. 106, p. 2758; compare V. 105.
.
■
Old Col¬
Trust Co., Boston, had made application to foreclose the $2,725,000
1st M. bonds of the co.
V. 110, p. 168.
R. W. Perkins has been appointed
ony
receiver in this action also.
ORGANIZATION.—A merger, effective Nov. 1 1916, of the Shore Line
Electric Ry., Norwich & Westerly Traction Co., Groton
& Stonlngton
Street Ry., Asbaway & Westerly Ry. and the New London & East
!). 1"18. On Aug. fares from 5 to 6 cents. the Cal. RR. Comm.this decision
ocal street railway 14 1918 was auth. by
to increase
In connection with
.
Lyme
Street Ry.
(See this Section for Sept. 1916 for separate statements of those
companies.)
V. 103, p. 494, 1033.
Had a lease for 99 years from 1913
on that portion of the Connecticut Co. known as the New London Division
104 miles, but this lease was annulled by order of the court In Jan. 1920;
the co. continued to operate these lines until April 18 1920 at which time the
Connecticut Co. took over same for operation.
See V. 110, p. 1749.
An Act of the Conn. Legislature, approved May 16 1917, authorized the
company to increase its capital stock to not exceeding $8,000,000 and to
exchange such stock par for par for its notes or its A and B debentures,
subject to the approval of the P. U. Comm.
No stock shall be issued at
less than par.
The company was also authorized to generate and sell eleotrtcHyjto any electric light, heat or power company except in the towns of
the
Commission
granted the co. auth. to spend $1,181,979 for impts.
Effective Sept. 12 1919 the co. was auth. to raise fares on
from 11 to 15 cents for one way fares and the commutation
from $3 30 to $4.
V. 109, p. 982.
V. 107, p. 907.
the Key Route
rate
&c.. Committee.—This committee represents the in¬
Chairman, John S. Drum; J. F. Carl¬
Garthwalte, P. E. Bowles, George Tourny, Gavin McNab,
B.
H. Dibblee, A. Crawford Greene, George A. Batchelder, Herbert
Fleischhacker and Paul A. Sinsheimer, Secy.
Depositaries: Mercantile Tr.
Co., Savings Union Bank & Trust Co., and the Anglo-California Trust Co.
of San Francisco; Oakland Bank of Savings, Central Natl. Bank of Oak¬
land and the First Natl. Bank of Oakland, Calif.
V. 109, p. 1180, 1274.
Reorganization,
terests of the different bondholders:
ton, W. W.
Deposits have been called for.
V. 110, p. 79.
For statement by com¬
May 7 1920 about 60% of the subsidiary
mittee see V. 110, p. 1416.
Up to
securities had been deposited.
V.
llO^p. 2193.
Div. Period.
STOCK—
($100)
Class A pref. ($100) 6% cum
Common
Class B pref.
BONDS—
San
($100)
...
Q.-M. 21
-
-
Interest.
Date.
Fran-Oak. Term. Rys.
1916
Equip notes ($1.000)
Oakland Traction Co.—
5 g J-J18
Union Tr. Co.,,San
1907
Co gen con)
$12,000,000, sink-)
Trac
Oakland
mtge, g,
-
-
Bonds.—Are secured by a 1st mtge. on the entire property.
Escrow bonds
($2,160,000) can only be issued for 75% of the actual and reasonable
ex¬
penditures for permanent exts. and add'ns to the property,
conditions. If any of the escrow bonds are issued, the bonds so issued shall
mature not later than Jan. 1 1940, and not earlier than the last maturity
of the present issue outstanding.
The $840,000 now outstanding mature
$42,000 annually from Jan. 1 1921 to Jan. 1 1940, both inclusive.
all or In part by lot (last maturities first) at 102 and int. on any int.
Int. payable in Chicago or San Francisco.
Tax exempt in
V. 110, p. 466.
Outstanding.
$15,125,000
12.050.000
Outstanding.
6 M-N
cash
under certain
1.000.000
Maturity.
Call,
See text
$120,000
date.
California.
3,177,000 Jan 18 1935
Fran., Trustee.
Dividends.—An initial div. of
c*]
lng fund ($1.000)
General consolidated
mtge.)
Oakland Trac Consol. $7,-
2 1933
5 g J-J
2.134,000 Jan
Union Tr. Co.. 8an Fr.. Trustee.
1905
$3 50 was paid on the
110, p. 2658.
V.
1920.
($1,000)—c
1902
5 g J-J
1.202,000 July 1 1932
(see text) Oakland
consg,sf($l,000)c* Union Trust Co., San Francisco. Trustee.
1901
5 g J-J
1.595,000 July 1 1931
1st con s f M Oak Tran,$3,000,000 ($1,000), g
c* Mercantile Trust .Co., San Fran., Trustee.
1898
6 g J-J
1,121.000 July 7 1918
1st mtge Oakland Transit Co,
Union Trust Co., San Francisco, Trustee.
$1,400,000, gold, s. f., not
subject to call
c*
250.000 Mar. 1 1922
1892
6 g M-8
Oak San Lean & H 1st M
000,000, gold
1st mtge
Transit
g.
$250,000 ($1.000)
6 g M-S15
1893
mortgage,
i
gold ($1,000), $250,000—
Oak & Pied El Ry
1893
Int. at
gold, $350,000.
Cons Ry—
1908
consolidated mort¬
San Fran Oak. A San Jose
General
$7,500,000 ($1,000),
gage.
Union
O & 8 J Ry 2d mtge
$1.500.000 g ($1,000) s f„c*
5 g J-J
East Shore A Suburban
at
1.500.000 Jan 2 1933
Nat. Bank
Wells-Fargo-Nevada
Francisco, or at company's office
Union Trust Co., San Francisco. Trustee.
San
mtge
cured by 32 steel cars
May 1
costing $234,000.
1917 to Nov. 1 1925,
Incl.
Callable at 100 H and Int. on 60 days'
notice.
$6,980,000 are re¬
the Oakland
Ry. coll. notes.
A sinking fund began in 1907 which provides for the re¬
tirement of about $7,000,000 bonds by 1932.
Of the $7,000,000 Oakland
Trac. consolidated mortgage, $4,826,000 are reserved to retire prior liens,
$20,000 have been canceled and $20,000 exchanged for Oak Trac. Co. issue.
A sinking fund began In 1906 which provides for the retirement of $6,000,000
bonds by July 1 1928. See V. 81, p. 668. The auth. amount of 1st consol.
mtge. of 1902 of Oakland Transit Consol. was originally $6,500,000, but
■hareholders voted on June 17 1904 to cancel $1,6.54,000 previously re¬
served for extensions and improvements.
V. 78, p. 2385. Of the remain¬
ing bonds auth. $3,495,000 are reserved for prior liens and $149,000 have
been canceled by sink. fd.
A sinking fund for these bonds commenced in
1903 and ranges from $10,000 to $250,000 per year, which provides for the
retirement at maturity of $4,000,000 bonds. Bonds not subject to-call, but
may be purchased for sinking fund in open market."
See V. 75, p. 135. Of
the $3,000,000 first consols, Oakland Transit, $1,400,000 are reserved to
retire underlying liens.
$5,000 have been exchanged for Oak. Transit Cons,
A sinking fund commenced on these bonds in 1912., which provides for the
Oakland Trac. Co.—Of the $12,000,000 bonds of 1907,
served for prior liens and $1,843,000 are deposited under
retirement of $2,000,000
Both the Oakland San
14
under contract.
OFFICERS.—Pres., Walter
of the bonds on or before maturity.
Leandro <fc Hay. Eiee. Ry. and the
23d Ave Elec.
Ry. mortgages have sinking fund commencing ten years after
Increasing from 2% yearly (of total bonds outstanding) for the
OIL CITY,
the
and
Reno
In Nov.
Bridge Co.
an increase in fare from
1918
men's tickets in books of
date and
first five
Is being paid on the notes.
EARNINGS.—For cal. years 1918 and 1917 and years ending June 30:
Gross
Net (after
Other
Interest,
balance.
Earnings.
Taxes).
Income.
Ac. (net.)
Surplus.
Year
$706,335 $103,303
$1,122,109 def.$312,471
1919
$5,793,501
1,102,626 def.21 9,701
804,386
78,539
1918
5,100,030
annum
1,001,380
44,355
1917
4,578,620
1,146,445
1916-17
a4.472,176
*1.089.771
60.413
1915-16
*4,417.848
♦Including In 1915-16 direct exposition ferry
———
1,091,125
def.61,896
55,319
1.019,461
130,723
1,107,631
earnings, gross, $114,553
$49,161.
Loss due to jitney competition in 1915-16 estimated
$320,000, with no corresponding decrease In operating expenses.
a Including "other income" in 1916-17.
net,
ROAD.—Operates 261.51 miles (all
tracks) of electric railways.
cars, 1 combination car. 3 electric
service cars, 5 wrecking cars, 1 pile driver
at
Has 434
locomotives, 14 freight cars, 75
and 4 ferryboats.
In 1915 made
Co. (successor to the
contract for power wi,th Consolidated Electric
United Lt. & Pow. Co.) under more favorable terms.
OFFICERS.—Pres.. C. O. G. Miller: V.-P„
Treas., F. W. Frost; Aud., B. W. Fernald.—V.
1892; Y. 110, p. 79, 1416, 1749, 2193; V. Ill, p.
W. R. Alberger: Sec. &
109, p. 1180, 1274, 1610,
74, 693, 1184.
;
SAN FRANCISCO-SACRAMENTO RAILROAD CO.
ORGANIZATION.—Incorp. in Cal. late in 1919 as successor to the
RR. .sold at foreclosure on Jan. 29 1920 as
per plan of reorganization outlined in the "Electric Railway'
Supplement
of Nov. 15 1919, in which issue the history of the predecessor co. will aLso
be found.
For changes in reorganization plan see V. 110, p. 78.
Controls
through stock ownership Oakland & Antioch Ry. (34.12 miles between the
points named) and San Ramon Valley RR. (11.7 miles between Saranap
and Diablo, Contra Costa County.
Has a traffic agreement with the
Atchison Topeka & Santa Fe Ry. under which the latter reaches Sacra¬
mento and points beyond.
Franchises.—Practically the entire mileage of the road is located on private
Oakland Antioch & Eastern
right of way.
We understand that where franchises are required, they con¬
tain no burdensome restrictions, and extend from 1946 to 1964, the shortest,
covering only about 5 miles, expiring in 1941.
STOCK AND BONDS.—
Date.
Interest. Outstanding.
Maturity.
Common $6,550,000 ($100)
$6,213,555
1,242,711
See text
Pref $1,500,000 cum. ($100)..
7%
840,000 See text
1st
mtge
($1,000)
serial
gold
$3,000,0001 1920
6 g J-J 1
c*tf/Union Trust Co., San
callable any time at 110.
Stock.—Pref. stock is
.
6 to 7 cents with
15 for $1 became effective.
Date.
interest.
($50)
($50)--Q-J
First
mtge
$2,500,000 gold! 1912
5 A-O
($1,000) sinking fund_c*tf jPa. Co. for Ins. on
$1,000,000
Common
Preferred $1,000,000
000
*
Of the $1,000,000
6 M-N
1917
Refunding mortgage $2,600.-1
,
,
special working-
Maturity.
$1,000,000
See text
*1.000.000
See text
1,354.000 Apr 1 1942
L. & G. A.. Phila., Trus
483.000 May 1 1942
L. <fc G. A., Phila., Trus.
Outstanding.
r.tf/Pa. Co. for Ins. on
outstanding $400,000 are in
the treasury.
$1,354,000 outstanding. Red. at 105 and Int.,
fd. on or after July 1 1918.
Sinking fd. of 1% per ann. became operative July 1 1918.
An improve¬
ment fund of H of 1% per ann. operative on Jan
1 1923. See v. 94.
p. 1118, 697.
Int. at office of trustee.
$1,354,000 Ref. M. bonds reserved
to retire 1st M.
Remaining bonds to be issued for additions and extensions
Bonds.—1st M. closed with
in whole on or after Apr.
11917, or In part for sk.
guarded restrictions.
Dividends.—First div. on pref.—-2J^%—was
under
2%. In 1914, Jan., 2%; July, 2M%.
quar. div. of 1H % and same rate quar.
Jan.,
H %f April,' ~2 M %;
paid Jan. 2 1913; July 1913,
In 1915, Jan., 3%; in April paid a
Jufy? 1 %.
EARNINGS.—For 12 mos. ending June
1919-20
1918-19
30 (incl. subsidiaries):
Fixed Chgs., Ac.
Balance.
$98,280
$124,009
Net, aft. Tax.
Gross.
$720,917
585,506
12 Months—
1918. In Apr. 1919,
to and incl. Oct.
$222,289
160,610
90,577
70,034
track in Oil City, Franklin, Rouseville.
Siverly and Reno, and connecting routes on both sides of the Allegheny
River.
65-lb. and 70-Ib. T rail and 85-Ib. girder rail.
Has 61 passenger
cars, 3
work cars, 1 snow-plow and 2 snow sweepers.
The controlled
Citizens' Light & Power Co. furnishes electric light and power for Oil City,
ROAD.—Operates 35.11 miles of
Franklin and vicinity.
OFFICERS.—Pres.,
John E.
Joseph Seep, Titusville; V.-P., Chas. Day; Sec.,
L. B. Harvey; Asst. Sec., C. A. McClure.
Zimmermann: Treas.,
Inc., Philadelphia,
Oper. Mgrs., Day & Zimmermann,
1806; V. 104, p. 1387.
Pa.—V. 101, P
maturity.
Park Bank
San Francisco Oakland A San Jose Consolidated Ry —$4,500,000 consol.
mortgage bonds are reserved to retire prior liens and $1,413,000 are de¬
posited under the Oakland Ry. coll. notes.
A sinking fund on these
bonds began 1915, installments totaling $4,345,000.
A sinking fund on the
San Fran. Oakland & San Jose Railway 1st 5s is provided as follows: In 1915
and 1916, $25,000 each year; In 1917 and 1918. $35,000; in 1919 and 1920
$50,000; in 1921 and 1922, $75,000; in 1923. $90,000; In 1924 and 1925,
$100,000; In 1926, $115,000; in 1927 and 1928, $125,000: in 1929. 1930.1931
and 1932, $150,000.
These bonds cannot be called.
See V. 76. p. 655.
The following amounts are payable annually to a sinking fund on the San
Francisco Oakland & San Jose Railway 2d mtge. bonds:
1915, $10,000
1916, $15,000; 1917, $20,000; 1918, $25,000; 1919, $30,000; 1920. $35,000;
1921, $40,000; 1922. $45,000; 1923 to 1925. inclusive, $50,000; 1926 and
1927, $60,000; 1928 to 1932, Inclusive, $75,000.
These bonds are not
subject to call.
-i
East Shore & Sub. mtge. Is a closed mtge.
Sinking fund. 1
% yearly on
all bonds outstanding, expected to retire entire Issue
V. 94. p. 123.
$97,000 In sinking fund April 1 1920
Notes.—The Oakland Rys. and Oakland Terminal coll. notes fell due
June 12 1913 and Aug. 20 1913, respectively.
Interest at rate of 6% per
new
PA.
CO.—A trolley road.
In Mar. 1917 control was purchased by the Municipal Service Co.,
Maine holding corporation, which see under Philadelphia, Pa.
ORGANIZATION.—Incorporated in Pennsylvania May 23 1902. Owns
and operates the Citizens' Light & Power Co.. the Monarch Park Hotel Co.
(an amusement park with 60 acres of ground), the Big Rock Bridge Co.
TRACTION
CITIZENS'
OKLAHOMA
Francisco, or National
a
Arnstein; V.-P. & Gen. Mgr., H. A. Mitch¬
Sutherland.—Y. 109, p. 2172, 2263; V. 110, p. 79.
ell; Sec. & Aud., H. J.
262, 466, 2658.
to 8% for last 5 years. The bonds are not subj. to call before
Interest on Oakland Traction Co. and underlying bonds, except where
otherwise indicated, is payable at Wells Fargo Nev. National Bank, San
years
pass,
,
STOCK AND BONDS—
Ry.Co.—
$750,000 gold s fl 1905
6 g J-J
653,000 July 1 1940
($1,000) sub to call 11 O&intjInt. at Merc. Tr. Co.. San Fran., Trustee.
Notes of Subsidiary Cos.—
1912
6%
2,500,000
See text
Oakl Rys coll tr notes $2,500,Int. at Anglo-California Tr. Co., San Fran..
000 ($25,000) red at 100
Trustee, or National City Bank, N. Y.
and Int
1912
6 F-A
.1,100,000
See text
Oakland Term coll notes $1
Int. at Anglo-California Tr. Co., San Fran
100,000 g ($1,000. $2,000,
Callable at 101 and interest.
$5,000 & $10,000) gu d & I.
The equip, notes of 1916 are seSan Francisco-Oakland Terminal Rys.
They mature $10,000 s.-a. from
st
34,161
181.486
o6u.— lULiu,
Oakland, or Wells
Trustee.
San Fran
Mi seel.
Deficit.
$175,108 sur.$8,997
Rentals.
$106,104
106,323
Owns 6 substations*
See.—1Total, 105-55 miles in operation.
shops, storehouses, office buildings, freight stations, ticket
Equipment consists of 34 passenger coaches, of which 18 are
motor equipped, 6 steel locomotives, 74 freight cars. 3 cabooses, and
construction and work cars.
Power is furnished by the Great Western
ROAD,
5 g M-N19 1,587.000 May 19 1938
Trust Co., San Francisco, Trustee.
1906
rt/t «/I
stations, &c.
Fargo-Nevada Nat. Bank. San Fran.
1903
5 g J-J
3,000,000 Jan 2 1933
Int. at
Wells-Fargo-Nevada Nat. Bank to
San Fran O & S J Ry 1st
San Francisco
and Nat l Pk. Bank In
mortgage, $3,000,000 ($1 ,~
N. Y.
Union Trust Co.. San Francisco.
000), s f. gold
--C*
Int.
15
for years ending Dec. R/T //
31:
T"
Tol #/)•*»/» Of
Interest A
Balance,
Lease
warehouses,
18,000 Jan. 1 1923
6 g J-J
WeTls-Fargo Nev. N. B., San Fran.
Interest at office of co.,
c*
gold
'23
AW
—-
Power Co.
Alameda
first mtge.
250.000 Marl 15
pref. stock on July
.
EARNINGS.—Of predecessor company
/4 il
Net (after
Oiher'
Calendar
Gross
Taxes). Income.
Year—
Earnings.
$284,592
$5,617
1919
$1,167,889
251,618
2,030
1918
879,766
206.757
1917
745,835
Mtm
23d Ave El Ry 1st
111.
[VOL.
RAILWAYS
ELECTRIC
98
Francisco, Trustee.
CITY, OKLA.
OKLAHOMA RAILWAY CO.
ORGANIZATION.—Incorporated in Oklahoma on June 15 1904 under
name of Oklahoma City Ry. Co.
On Sept. 21 1907 name changed to
Ry. Co., increasing charter powers so as to* constitute both an
urban and interurban road with all the powers of a steam railroad corpora¬
tion and of a lighting and power co., and increased stock from $1,000,000 to
$3,000,000.
On Apr. 1 1911 purchased Oklahoma City & Suburban Ry.
and on Aug. i 1911 purchased the El Reno Interurban Ry. and the city lines
and franchises in El Reno.
The Oklahoma Ry. also owns the Guthrie City
Ry.and the No. Canadian Valley Ry, In 1911 increased stock from $2,000,000 com. and $1,000,000 pref. to $10,000,000 com. and $5,000,000 pref
About two-thirds of road on private right-of-way (incl. 28 miles of track
within city); Oklahoma City franchise perpetual, subject to right of city
to purchase property on Jan. 31
1932 or at end of any 15-year period
thereafter.
El Reno franchise expires 1933; other franchises perpetual.
The Guthrie-Edmond Electric Ry. was Incorp. In Dec. 1915 with $500,000
capital to build the extension from Edmond to Guthrie. 15 miles, placed In
operation July 20 1916
Fares.—On Nov. 1 1918 was authorized to increase passenger fares on
the interurban lines.
Effective Sept. 10 1920 was auth. to increase fares
from 5 cents to 7 cents, with 4 tickets for 25 cents.
V. Ill, p 1183.
In Feb. 1919 brought out an issue of $450,000 bonds secured 7% notes
the
Oklahoma
V
108
p
683
Outstanding.
Maturity
Date.
Interest.
$3,800,000
$10,000,000 ($100)-1.795.900 Jan'12,1 % %
$5,000,000(1100)5% cum
First
and
refunding
mtgel 1908
5 g J-J
347.000 Jan 11938
$3,000,000 ($1.000) gold c*[lnt. at Safe Dep. & Tr. Co., Pittsb., Trustee.
First & ref mtge $12,000,0001 1911
5 g J-J
3.653.000 Jan 1 1941
gold ($1,000)
c*(Int. at Mississippi Valley Tr. Co., St. Louis
I
Trustee, or Harris Tr. & Sav. Bk.. Chic.
STOCK AND BONDS—
Common
...
Pref
_
Junior M g bonds
,
($l,000)-cj
000 ($1,000) gold
Secured notes ser "G"
410,000
6 J-J
1916
Red at 101H and Interest 1 Int. at
Secured notes ser "F" $375,-1 1918
Miss. Vail
8 g M-S
See text
St. Louis., Tr
375,000 Mar 1 1921
Tr. Co
.
[Int. at Miss. Vail. Tr. Co., St.
Louis, Trus.
$450,-1 1919
7 g J-J
450,000 Jan 1 1921
$1,000) g-C.tfjlnt. at Miss. Vail. Tr. Co., St. Louis. Trus.
Bonds.—Of the 1st & ref. bonds of 1911. $347,000 are reserved to retire
underlying bonds; remaining bonds can be Issued at not exceeding 80% of
cost or extension*, enlargements and additions under certain restrictions.
Subj
to call at 1U5 and Int. on Jan. 1 1921 or any int. date thereafter
V. 92, p. 1110.
$525,000 are held in treasury, of which $500,000 are
pledged as security for the 8% notes due Mar. 1 1921.
No sinking
fund, but bonds have a renewal fund of 2% per annum of bonds out.
The first and refunding mortgage of 1908 is lijnited under the terms o J the
1st & ref. ruGge. of 1911 to $2,500,000. of which $2,153,000 are deposited
additional security for 1st 8c ref 5s of 1911 and $347,000 are out.
Mtg
bonds of 1908 can be called on 90 days' notice at 110 and Interest.
No
sinking fund.
The junior mtge. bonds mature $15,000 s.-a. from Jan. 1
1918 to July 1 1925 and $260,000 on Jan. 1 1926.
They are secured by a
lien on the entire property subject to $4,000,000 underlying bonds, and also
cover the extension from Edmond to Guthrie, subject to a construction
len of $450,000.
Exempt from all general taxes In Okl.
V. 102. p. 1987.
000 ($500 &
Notes.—The 3-year 8% notes are secureu uy
Ref. M. 5% bonds due Jan. 1 1941
a
deposit of $500,000fist•&
(ratio of 133%).
Red. all or in part at
101 aCnd int, on any int. date.
Tax-free to holders In Missouri.
The
series "G" 7% 2-year notes are a direct obligation of the co. and in
are secured by $120,000
1st M. 5s of the Guthrie Ry. Co. and $500,000
addition
Guthrie-Edmond Electric Ry. Co.
101 and int. on any int. date.
V. 108, p. 683.
Dividends.—On pref.. 1st div.—5%—paid Jan.
to and Incl
Jan. 1912.
None since.
1st M. 5s of the
Red. all or in part at
1909 and 1 H% quar.
Oct.,
1920.)
ELECTRIC RAILWAYS
EARNINGS.—For cal.
1918 and year ending June
30:
Net (after
Other
Interest.
Balance,
Taxes).
Income. Disc't.Ac.
Surv.
Gross
Year—
Earnings
1918
year
$1,294,326 $446,618
1,481,693
499,076
1918-19
99
Ry. A Bridge Co.
Passengers
Carried.
$6,143 $327,343 $125,419
19,554,434
7,949
328,810
178,215 21,623,535
ROAD, &c.—Operates about 138
miles of track
comprising the street
railway systems In Guthrie (6.7
m.) and Oklahoma City (60
m.) and the
interurban lines to El Reno
(placed in operation Dec. 3
1911), Norman
(placed In operation Nov. 15
1913) and Edmond (placed in
operation May
28 1911).
The extension to Guthrie was
placed In operation July 20 1916
Standard gauge. 65. 70 and
100-lb. rails.
110 pass, and 32 freight and
other
cars; 2 electric and
1 steam locomotive.
Power plant has
12,100 k. w.
capacity.
Also owns valuable terminal
station In Oklahoma
City.
OFFICERS.—Pres.. Anton H. Classen; V.-P. A Gen.
Mgr.. J. W. Shartel; Sec. & Asst. Oper. Mgr., Chas.
Hoopes; Treas.. E. J. Richart; Aud., W
C. Jones.
General offices, Oklahoma
City.—V. 107, p. 1670, 1837, 1920;
V. 108, p. 379, 683; V.
110, p. 78; V. Ill, p. 693, life.
Lake Manawa A Manhattan
Beach has no funded debt.
Franchises run until 1946.
On Nov. 6 1911 U. S.
Supreme Court suspended
pending appeal, the order of the Inter-State
Commerce Comm. (V. 89, p.
1597). reducing the fare from Council Bluffs to
Omaha from 15 to 10 cents.
V. 93, p. 1387, 940.
On June 9 1913 the U. S.
Supreme Court held that
the Commission had no
authority to make the reduction.
V. 96. p
1702.
STOCK AND BONDS—
Date.
Interest.
Common
$1,500,000
$1,500,000
1st
consol
OLEAN, N. Y.
WESTERN
NEW
YORK
A
PENNSYLVANIA TRACTION CO.
Wm. A.
Dusenbury, Olean, N. Y., was
by Justice Cole in the Supreme Court in
judgment creditor.
V. 110, p. 1850.
ORGANIZATION.— Incorporated In New York
and Pennsylvania on
Nov. 17 1906 and Is a consolidation of
the Olean Street Ry. and the
Rock
City RR.; the latter being a reorganization of the
Olean Rock City & Brad¬
ford Ry.; Bradford St. RR. Co. has
also been consolidated.
Owns entire
stock of Shinglehouse St.
Ry.
Operates mostly on private
right-of-way.
Franchises practically perpetual,
except in City of Bradford, where
rights
expire in 1944.
On April 15 1910
up-State Public Serv. Comm. authorized
company to
increase stock from $2,000,000 to
$2,600,000 and classify shares as below
See V. 90, p. 1103.
$500,000 ref. bonds were
exchanged for $500,000 new
fIfflrk nrofpiTivi cf/ipl/
1920
appointed receiver for the
Buffalo
on
behalf of
co.
a
STOCK AND BONDS—
Common $1,000,000 ($100)
First pref (6% cum)
Date.
Outstanding.
Maturity
$1,000,000
$600,0001
I
($100)
Interest.
J-J
....
2d pref (5% non-cum) $1.000-1
000 ($100)
(
First and ref mtge $5,000.0001
($100)
$2,000,0001
mtge
gold
Bonds.—Of the
Dividends.—Dividends have been regularly paid
1st
&
ref.
bonds, $252,000
are
prior liens.
Additional bonds for extensions and
additions at
Are subject to call at 110 and interest.
See V. 91, p. 1162.
reserved
85% of
for
cost.
Sinking fund
on Olean Street Ry. 1st
mtge. of 1899 became operative In
1901, $4,000 being paid annually,
$81,000 had been paid to Sept. 1
Bonds cannot be called.
A sinking fund on the
1st mtge. extension
bonds became operative
Aug. 1 1903; $34,000 had been paid into the fund
Nov.
1919.
Sept. 1 1918.
In addition, the Shinglehouse RR.. whose stock is
owned, has
$49,000 5% bonds due in 1933. which have a
sinking fund of $1,000 yearly.
Dividends.—On 1st pref. 3% semi-ann. from Jan.
1911 to July 1917. incl
EARNINGS.
Gross
Net (after
Other
Year ending— Earns.
Dec. 31 1917—$482,601
Dec. 31 1916— .468,326
Taxes).
$156,985
186,744
Income.
Interest,
Rents, Ac.
$5,641
5,404
ROAD.—Operates in Olean
Balance
for Dies.
$28,914
58,346
$133,712
133,802
and Bradford, and
to Lewis Run from Olean
between
those points;
easterly through Ceres,
(with the Shinglehouse RR.) to Bolivar; from
westerly to Salamanca and thence to Little
Valley; from Seneca
Junction, N. Y., to Clarkdale, Pa.
Total about 98 miles of road.
70-lb
rails.
58 passenger cars. 30 freight cars, 5
snow plows.
and lines from
where
a
Bradford
connection
Is
made
Olean
OFFICERS.—Pres.,
I
:
New York; Sec., James P.
—V. 107, p. 83; V. 109,
V.-P.
&
Treas.,
Jos.
B.
OFFICERS.—Pres., Geo. S. Wright: V.-P.. G.
C. T. Stewart; Treas., J. P.
Greenshields.—V. 96,
p.
OMAHA
1610;
V. 110, p. 1527, 1850;
V. Ill, p.
128Q.
BONDS—
Date,
1st mtge $2,250,000
COUNCIL
BLUFFS
ORGANIZATION.—Incorporated
STREET
amended
in Nebraska.
road.
*
Owns
charges.
petition
seeking a court decree ordering the
city Its entire street railway
property In
by Corporation Counsel Lambert.
A judg¬
ment for the company's
earnings since Jan. 1917 was also asked.
The
action was based on the
provision of the franchise granted the
Omaha
Horse Car Co. (this
company's predecessor), by which its
property was to
revert to the city on Jan. 1
1917.
V. 106, p. 86.
A ruling has been
handed down by the court which holds
that the right of reversion does
not
extend to any part of the present
property of the Omaha & Coun. Bluffs
Ry,
Fares.—In 8ept. 1918 applied for auth.
to increase fares from
5 to 7
cents on account of Increased
wages, &c.
In connection with this
applica¬
tion an engineer appointed to make a
valuation of the co's
property placed
the total value as of July 1 1918 at
$19,755,400. "V.
company to turn over to the
Omaha was filed in Jan. 1918
107, p. 119d.
In
Dec. 1918 the Nebraska Ry. Comm.
denied the above
application for in¬
creased fares.
V. 107, p. 2376.
The co. appealed from this decision to
the
State Supreme Court, which on
July 16, 1919 ordered the Neb. Ry. Comm.
to grant the co. increased rates.
The Court recommended a
6-cent fare
pending further investigation of the co.'s books to
determine the present
earning capacity and permanent rate.
V. 109, p. 371.
The
Comm., how¬
Aug. 6 1919 granted the co. a temporary increase of
2 cents, bring¬
ing the fare up to 7 cents. According to the Comm.'s order
ever, on
the average of 1914 to 1918 must be
held in
settlement.
V. 109, p. 677.
STOCK AND BONDS1—
Date.
Common $10,000,000 ($100)
Pref 6% cum from Jan 1 19041
all revenue
a
Interest.
reserve
over
fund pending final
Outstanding.
$5,000,000
5 Q-J
4.000,000
$5,000,000 ($100)
{
First cons M $10,000,000
g\ 1902
5 g J-J
9.619.000
($1,000) no sink fund.c*.tf J Interest at
Guaranty Trust Co..
Maturity
Apr *20,2^
Oct
Jan
'20,1H
1
1928
New York.
Bonds.—$5,000,000 com. and $1,000,000
pref. stock are set
aside for add'ns & imp'ts.
Of the first consols, $381.000 owned and In
Stock
and
treas.
Dividends.—First dividend
on pref. stock.
11*%. was paid April 1 1904*
and incl. July 1918.
None to Oct. 1919 when
2H% was paid.
In Dec., 1919, 2H%.
In 1920 1 M%
quarterly was paid.
On common, first div.,
2% paid July, 1907.
In 1908 to 1911,4%
per annum
In 1912, 1913 and 1914,
5%.
In 1915, 4J^%.
In 1916 and 1917, 4%.
In 1918, Jan., 1%; April,
1%
In 1920, April, 2/^%.
and
same
amount quar. to
REPORT.—For calendar
Cal.
Gross
Year.
$
1919.-4,156,175
1918.-3,344.053
a 5%.
5 2H%.
In
years:
Net
Earnings.
(after
Other
Rentals,
Pf.
Common
Bal.,
Taxes).
Inc.
Int..Ac.
Div.
Dividends.
8urp.
$
$
$
$
$
$
835,949 20,748 639,868 a200,000
16,830
694.416 15,063 639,683 5100,000
(1%)49.900d.80,103
ROAD.—Operates 164.98 miles of track, embracing all the street
railways
Omaha, Neb., and in Council Bluffs,
la., including the Omaha and
Bluffs
Council
bridge.
OFFICERS.—Chairman of the Board, G. W.
Wattles; Pres., W. A.
Smith; V.-P.. J. A. Monroe; V.-P. & Gen.
Mgr., R. A. Leussler; Sec. &
Aud., W. G. Nicholson; Treas., A. S. Widenor; Asst.
Gen. Mgr., F. S.
Welty.—V. 107, p. 2376, 2477; V. 108, p. 79,
172, 1061, 2122; V. 109. p.
371, 677, 1987; V. 110, p. 360, 1643; V. Ill,
p. 1084, 1279.
(1)
Omaha
5c
Council
Bluffs Railway 5c Bridge.
in Iowa in 1902.
An
ORGANIZATION.—Incorp.
electric road.
Is
Bluffs Street Ry.
For terms of
lease, see
Owns entire
capital stock of the Omaha
Council Bluffs & Suburban Ry. and the Lake
Manawa & Manhattan Beach
Ry.
The $600,000 mortgage of the former
company, made to the Royal
Trust Co.
leased
to the Omaha A
statement
of
the
latter
Council
above.
of Chicago and Albert E.
Johnson,
Sec..
Outstanding.
Maturity.
5 g A-O
$250,000 Oct
I 1938
at Central Tr. Co. of 111.,Chic.
JTrustee.
any interest date at 105 and Interest.
c*llnt.
on
EARNINGS.—For cal. year 1919,
gross, $152,959; net, after
taxes,
$40,695.
In 1918, gross,
$115,785; net, after taxes, $31,312.
from
OSSINING, N. Y.
.
HUDSON
RIVER
&
EASTERN TRACTION
ORGANIZATION.—Incorporated
as
CO.
In New York
on
Feb.
15
1906.
On
May 23 1911 Pub. Serv. Comm. granted
permission to build an extension
from Osslning through
BriarclifC Manor, PleasantvilJe aud
Sherman Park
to White Plains, 17 miles.
3 miles In
Osslning are in
operation.
On Dec.
1911 Pub. Serv. Comm. auth.
$806,000 additional bonds to
complete
extension to White Plains (V. 94.
p
68), of which $55,000 have been
Issued.
Fares.—On Dec. 12 1917 the P. S. Comm.
auth. an Increase in fares from
5 to 7 cents, or 4 tickets for 25c.
This decision was canceled
by the Court
of Appeals in April 1918.
The village of
Ossining thereupon amended the
franchise, granting the company a 6-cent fare.
On Dec. 17 1918 the fran¬
chise was again amended so as to
provide for the 7-cent rate auth.
by the
N. Y. P. S. Comm.
In Feb. 1920 the N. Y. P.
S. Comm. auth. the co.
to charge 8 cents on its main
line in Ossining.
V.
27
110,
STOCK AND
Stock $400,000
BONDS—
Date.
Interest.
p. 561.
Outstanding.
Maturity.
$84,000
1st mortgage $1,000,000
gold/ 1907
5 g F-A
130.000 Feb
11957
($1,000)
..c&rtfllnt. at Equitable Trust Co., N. Y.,
Trustee.
Bonds.—Are subject to call on
any Int. day at 105 and int.
EARNINGS.—For
taxes, $3,042.
year ending Dec. 31 1919,
gross, $21,251; net, after
In 1918. gross, $22,598;
net, after taxes, $1,362.
OFFICERS.—Pres., O.
G. Bennett, Ossining;
V.-P., WInfiled Post.
Ossining; Sec., Henry D. Swain, Ossining; Treas. &
Gen. Mgr., W. L.
Stratton; Asst. Treas., O. E. Hallett.—V. 108,
p. 268; V.
110,
p.
561.
OTTUMWA, IOWA.
(THE) OTTUMWA RAILWAY Sc LIGHT
CO.
$647,000 com. and $244,200 pref. are owned
by Standard Gas & El. Co.
in Delaware
to the
on
Dec.
11
1905
as
suc¬
Ottumwa Traction & Light Co.
The latter's franchises for
railway, electric lighting and
steam-heating plants were extended
by municipal election on July 8 1901 for 25
years.
In 1917 secured a
10-year contract for the supply of wholesale electric
power and light to
Batavia for distribution in various
surrounding communities.
Fare Increase.—On Dec. 23 1918 the
City Council of Ottumwa granted
the company authority to increase fares
to 6 cents.
V. 108, p. 79.
In April
1919 the City Council passed an ordinance
recommending the return to a
5-cent fare.
V. 108, p. 1611.
On July 10 1919 the Dist.
Court of Iowa
affirmed the opinion of the Iowa
Supreme Court compelling the co. to return
to a 5-cent fare.
See also V. 109, p. 578; V.
Ill, p. 896.
In June 1918 issued $200,000 secured
notes to reimburse the
company
for expenditures for additions and
improvements.
V. 106, p. 2451.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common $650,000 ($100)
$650,000
See text
Pref $1,250,000 ($100)
7% cu
Q-J 15
501,400 Oct '20,1 */i
1st and ref mtge
$1,500,000/ 1906
5 g J-J
1,098,000 Jan 1 1924
gold ($ 1,000)
c*ilnt. at Central Trust
Co., Chicago, Trustee.
Ottum Tr & Lt 1st M (closed)
/ 1901
5 g A-O
246,000 Oct
1 1921
($1,000) gold sk fd
Clint. atU. S. Mtg.& Tr. Co., N.
Y.tTrustee.
Secured notes $350,000 ($100,1 1918
7 g J-D
200,000 Dec 1 1920
$500 and $1,000) g...c».tf/Illinois Trust A
Sav. Bk., Chic,,
111., trustee
General mortgage
1918
6%
See text
Dec 1 1920
Stock.—Prer. is cumulative from and after
July 1 1909; redeem, at 110
and div. on 60 days' notice.
$345,200 pref. stock held In
treasury.
Bonds.—Of the 1st & ref. M. for
$1,500,000, $246,000 are res. to retire
prior liens and $133,000 have been red.
The new bonds are
subject to call at
103 and int.
A sinking fund of 1
% per ann. on bonds out commenced
July 1
1909.
Of the $400,000 gen. mtge. 6s
outstanding $300,000 are pledged as
security for the 2-year 7% notes, and the
remaining $100,000 are owned
by the Standard Gas & Elec. Co.
The Ottumwa Trac &
Light Co. bonds
can be called since
street
RY.—A trolley
lines formerly op¬
erated by Omaha St.Ry.Co.; leases the
Omaha A Council Bluffs Ry.&
Bridge
Co. In Council Bluffs, la., until
1947. together with Its bridge over
Missouri
River, rental being $60,000 per annum, in
addition to all fixed
Litigatxon.—An
Interest.
($1,000)/ 1913
sinking fund
Bonds.—Subject to call
no
cessor
OMAHA, NEB.
&
Wattles;
LINCOLN RAILWAY Sc LIGHT CO.
Controlled by the Illinois Traction Co.
(see under Champaign, 111.).
In Nebraska In July 1913 as
succes¬
sor
to the Nebraska Traction
A Power Co.
Stock outstanding, com..
$48,800: Dref,. $57,500.
ORGANIZATION.—Incorporated
OMAHA
W.
1702; V. 102, p. 1060,
&
ORGANIZATION.—Incorporated
Maver,
Quigley, Salamanca; Gen. Mgr., I. W. Miller.
p.
pref. stock since 1902.
on
miles
of track,
Including the trackage of the
Omaha Council Bluffs A Suburban
Ry. and the Lake Manawa A Manhattan
Beach Ry., embracing the entire
street railways of Council Bluffs.
Also
owns bridge between
Omaha and Council Bluffs over the Missouri
River.
'
1903
$5,000,000
5 J-J
at Central Trust
South Omaha to Papillon.
12.5 miles.
OFFICERS.—Pres.. W. B. McKlnley; V.-P., Chas.
Zilly; Sec., E, A.
Macnutt; Treas., Geo. M. Mattis.—V.
98, p. 913.
•
July'17.3%
1,000,000 No div'd yet
1906
5 g J-J
2,240,000 Jan. 1 1957
gold ($1.000)
c«.tf(Int. a Equitable Trust Co., N. Y., Trustee.
Olean Street Ry first mtge
J, 1899
5 g M-N
144,000 Nov 1 1929
$225,000 ($1,000) g—c^.tfjInt. at
Fidelity Trust Co.. Buffalo, Trustee.
Olean St Ry 1st exten
mtge/ 1901
5 g F-A
98,000 Aug
1 1931
$130,000
($1,000)
goid/Int. at Fidelity Trust Co..
Buffalo, Trustee
(cannot be called).—c*.tf I
Sinking fund of $2,000 commenced In
Bonds.—Of the
1902
c*tf)Interest
1st consolidated mtge.
new
ROAD.—Operates
600.000
Maturity.
$1,500,000
1,500,000 July *20, 2%
F-A
I 1,902,000 Jan. 1 1928
Co., N. Y., Trustee
for $2,000,000, $108,000 are
reserved for improvements. V.
89, p. 1234, 1281; V. 94,
p. 1119.
$600,000
bonds of the Omaha Council Bluffs
& Suburban Ry. are
deposited as secur¬
ity for the O. & O. B. Ry. &
Bridge consol. 5s.
($1,000)
ROAD.—Comprises 33.69
Receivership.—In April
Outstanding.
($100)..
Pref 4% cum from Feb 1 19071
trustees, is all held by the
Oct. 1 1911 at 105 and int. and
each year thereafter at
Y % less until par is reached.
V. 74, p. 95.
Sinking fund on th&se bonds of
$5,000 annually Is, operative from 1907 to
1910 and $8,000
annually from
1911 to 1921.
Notes.—Secured by deposit of $300,000
gen. mtge. 6% bonds.
Addi¬
notes may be issued, under
certain
restrictions, upon pledge of
additional gen. mtge. bonds in like
ratio.
Redeem., all or in part, on 30
days' notice at 100 and int.
Pennsylvania 4-milIs tax refunded.
Interest
payable in Chicago and New York.
V. 106, p. 2451.
Dividends.—Initial div. on
pref.—l*A%—paid Oct. 1909 and same
amount quarterly since to and
Including Oct. 1920.
In 1916 paid
7% on
common stork.
.In 1917. 5%
None since.
EARNINGS.—For years ending Dec. 31:
Calendar
Net after Int.
ChargesMiscelDiviBalance.
Year—
Cross.
Taxes.
(Net),
laneous.
dends.
Surplus.
1919
$456,267
$113,948
$90,938
$23,010
1918
402,162
135,255
81,300
500
35,455
18.000
ROAD.—Operates 13 miles or trolley road in
city of Ottumwa, Iowa.
Weight of rails, 60-lb. T.
Standard gauge.
34 cars.
Also does municipal
commercial and residence
electric-L'ghting; 79 9 miles of distribution lines
and 19 5 miles of transmission
lines; supplies electric power for
stationary
motors. &c., and operates a
system of steam heating, with 3 miles of mains.
Present generating
capacity, 4,067 h. p.
A 66,000-volt
tional
transmission line
from Ottumwa to Batavia, 14
miles, was completed early in 1918
Further
extension of 5H miles of transmission
line connecting the
city of Eldon with
the Ottumwa-Batavia line is
contemplated.
OFFICERS.—Pres. Arthur S. Huey; Sec., R. J.
Graf; Treas., J. J.
O'Brien; Mgr., C. E. Fahnrey; Aud., J. F.
Winn: Gen. Mgrs., H. M.
Byllesby & Co., Chicago, 111.
V. 109, p. 578; V. Ill, p. 896.
PADUCAH,
KY.
PADUCAH ELECTRIC CO.—Incorp. in
Kentucky on Sept. 23 1919 as
by reorganization (see plan in V. 108, p. 1165, 1275) to the
Paducah Traction & Light Co. (for
history see "Electric Railway' Supple¬
ment of Nov. 15 1919).
Owns and operates the electric light,
power, gas
and steam heating systems in Paducah,
Ky., and through ownership of all
the stock (except directors' shares), of Paducah
Railway Oo„ controls and
successor
ELECTRIC
100
also operates
the street railway system, serving a population conservatively
Also owns all (except directors* shares) the stock of
estimated at 35,000.
the Paducah Realty
Co.
Principal franchises art free from burdensome
of counsel, extend well beyond the maturity
restrictions and in the opinion
of the first mortgage bonds.
Fares.—Effective Oct. 1 1919, fares
in Paducah were reduced from 7 cents
V. 109, p. 1367.
to 6 cents.
STOCK AND
Maturity.$605,000
7%
None
—
f 1919
6 g J-J 1
679,500 July 1 1924
c*&r*_tf- lint, at State Street Trust Co., Boston, trus.
$576,000—rl 1919
6%
576.000 May 1 1939
and $1 000)
Conv debentures
Interest. /Outstanding.
Date.
BONDS—
$605,000 ($25)
Preferred $595,000 cum
1st M $1,000,000 ($100, $500
Common
—-
/Int. at 8tate Street Trust Co., Boston, trus.
'"stock.—The 7% pref. stock is reserved for the conversion of the
1 1924.
Bonds.—In addition to being a first lien on the company s physical,
debentures after Jan.
6%
Stock.—$19,500 par value pref.
$14,000 are in treasury.
Dividends.—6% per annum paid on
On common, in 1906, 1%; In
4%; in 1910. 4%.
None since.
Sec.,
£ne
—
June 30 1920, gross $351,457;
net, after taxes, $107,266; int., &c., $52,755; bal., surp., $54,511.
ROAD, &C.—Owns and controls 18.3 miles street railway track; standard
gauge; 30 passenger and 2 other cars.
Power station capacity 1.830 k. w.
Gas plant has a daily generating capacity of 490,000 cu. ft.
OFFICERS.—Pres., Harry T. Edgar; Sec., Edward T. Clark; Treas.,
Henry B. Sawyer.
Gen. Mgrs., Stone & Webster Mgt. Assn., Boston,
Earnings—For 9 months ending
1367, 1987.
_
w. va.
parkersburg,
TRACTION & ELECTRIC CO.
July 1 1917 control was acquired by the Monongahela
Valley Traction Co. (see under "Fairmont. W. Va.").
Under an operating
agreement effective July 1 1917 for 5 years or until terminated by either
party on 6 months' notice, the Monongahela Valley Traction Co. manages
all this co.'b properties, takes all revenues, guarantees debts and renders
an account at the close of each year end. June 30.
ORGANIZATION — lucorp. in April 1915 and on June 7 1915absorDeo
by consolidation the Parkersburg Marietta & Interurban Ry., which was
incorp. in 1902 In W. Va., and purchased the properties of the Parkersburg
Gas. Electric Light & Street By.. Parkersburg Interurban Ry. and Marietta
July 1 1911 the properties
of the Muskingum Traction
Franchises perpetual or for long periods.
The co. guarantees the
bonds of the Parkersburg A South Side Bridge Co.
.
Decision.—In Feb. 1920 the Supreme Court of Appeals upheld the right
of the city of Parkersburg to collect a certain percentage o the
gross
revenues under the franchise agreement.
V. 110, p. 561
SToOk AM) wiNPfl—
Dale.
Interest. Outstanding.
Maturity
Common stock $1.500.000
----- SI .100.000
.
Pref stk $1,500,000 6% cum.. — —
Q-J
1.078.500 See text
1st & ref M $5,000,000 gold? 1916
*-A
1,700,000 Aug
($100 $500 & $1.000)-c*tf lint, at Fidelity Trust Co., Baltimore, Md.
1st M gold Parkersburg lines._ 1898
5
Consol rntgeall lines .
lflP2.
5 T i i ioi«
aii
f u,
#•
Co.
mortgage
co.'s
11936
Stock.—Preferred stock is cumulative
from July 1 1916.
All of the out¬
stock is owned by the Monongahela Valley Trac.Co.
►
Bonds.—The First & Refunding bonds are issuable in series as the com¬
pany's needs require.
The present series. Series "A," is in the authorized
amount of $2,000,000. of which $1,700,000 were Issued in April 1917 to
retire the $1,100,000 2-year 5% notes due June 15 1917, and $150,000
standing com. & pref.
Electric Company bonds paid April
1 1917. and for ex¬
tensions
Ac.
Provision Is also made for refunding other underlying
bonds at or before maturity.
The bonds are subject to call on any Int. date
at 105.
Fidelity Trust Co. and Van Lear Black of Baltimore are trustees.
1st Mtge. bonds on Parkersburg lines are subject to call.
Marietta
Hvidends.— Divs. of 1 V*% quar, on pref. stock were begun Oct. 1 1915
EARNINGS.—For years ending Dec. 31 (see above under "Control"):
Year—
Gross.
Net.
Taxes.
Interest.
Bal..Stir.
1919.
.$744,512
$245,206
$42,000
$120,450 <
$82,756
Cni.
..
—
125,967
66.047
120,088
125.656
PROPERTY.—Has system of street railways In the cities of Parkers
burg W. Va., and Marietta, Ohio, and an Interurban railway from Parkers
burg' W Va,. to Marietta and from Marietta through Lowell, Ohio to
Beverly, Ohio, aggregating 60.84 miles.
Uses bridges of Mariette Parkers¬
burg Bridge Co., one crossing the Ohio River at Marietta, O., and Williamstown, W. Va., the other crossing the Little Kanawha River at Parkers¬
burg
W. Va., in which it owns the entire stock.
Supplies all electricity
for light and power in its territory except street lighting in Marietta.
In
January 1916 completed a new modern electric generating station in Park¬
ersburg with a total capacity of 12.500 k. v. a., of which 6,250 k. v. a. is
installed, and owns 1 steam electric station, 1,600 h. p. for reserve and
232,751
282.718
642,325
609,393
1918
1917
emergency
purposes.
»
40,736
36.974
>
(after
ROAD.—Owusand operates 10-71 miles of track in Peekskill and to Lake
and Verplanck's Point
with branch to State CauiD
OFFICERS.—Pres.. F. A. Stratton, Mt. Vernon; V.-P. & Gen. Mgr..
8tuart Wilder, Ossining; Sec., Dr. B. W. StIIlwell; Treas., R. A. Carter:
Asst. Treas.. H
D, Swain. Ossining.
General office, Peekskill, N. Y.—
Vtoheean
190; V. 108, p. 2529.
V. 106, p.
&
PUTNAM
WESTCHESTER TRACTION CO.
ORGANIZATION.—Incorporated In New York in July 1906.
Stock
authorized and Issued, $75,000; par. $100.
First mtge.. auth., $200,000;
outstanding. $71.000 gold (c»tf) 5% J-J, due July 1 1937; int. at Columbia
Trust Co., New York, trustee.
Subject to call at 105 and int.
Earn¬
ings for year ending Dec.31 1917, gross. $9,786. net $639
fixed charges.
$3,921: deficit. $3,283.
On Dec. 12 1917 the P. S. Comm. granted auth.
to Increase fares from 5 to 7 cents with sale of 4 tickets for 25 cents.
Oa
June 18 1919 fares were increased to 8 cents in Peekskill.
V. 108, p. 2529.
Road, 4 miles from Peekskill to Oregon, Putnam County.
Pres., Geo. K.
McCoy; V.-P., Frank M. Dain; Treas., Alfred J. Mason; Sec., H. D. Swain;
Asst. Treas. & Asst. Sec., Chas. Le Clair.—V. 106, p. 190; V. 108, p. 2529.
pen argyl,
ORGANIZATION.—Incorporated in Pennsylvania on Feb. 14 1899.
the Lehigh Valley Traction Co., but lease canceled
May 10 1904. owing to default In payment of rental.
For changes in
directorate and officers in Feb. 1917, see V. 104, p. 765.
Committee for 2d M. 4s.—George K. Mosser, Aflentown. Pa.; Alan O.
Dodson. Bethlehem, Pa.; W. W. Doughten, Brown Bros. Bldg.. Philadel¬
phia. Pa.; Thomas A. Keck, Falmouth, Mass.; Frank M. Horn, Cat&sauqua. Pa.; Hubert E. Rogers, Sec. & Counsel, 60 Wall St., N. Y. City.
Y.
See V. 103. p. 2156.
Depositary: New York Trust Co., N
Interest.
Outstanding.
Maturity.
STOCK AND BONDS—
Date.
$360,000
4tock $360,000 ($50)
Was formerly leased to
on
First
c*tf lint, at the E. P. Wilbur Tr.Co..So.Beth.,Tr.
Second
mtge $270,000 gold/ 1912
4 g J-J
270.000
1942
($100. $500 & $1,000).c*tf lint, at E. P. Wilbur Tr.Co.,So.Beth., Trust.
Bonds.— 1st mtge. bonds are callable at 102 on any Int. date.
2d mtge.
bonds are subject to call at par on any interest date.
Int. on 2d M.
bonds Is in default.
c»irro| K
$25,126.
ceased operating owing owing to the refusal of
Co. 1 o furnish It with any more power unless
p. 1527.
For last statement of this company
the Patchogue Electric Light
the co. paid its bills.
V. 109,
published see the "Electric
from Nazareth to Bangor.
ROAD.—Operates 18 miles of rr^ck
rails
10 cars.
6 miscellaneous cars.
OFFICERS.—Pres., A.
after
67-Ib.
H.lMcAdams, Phila., V.-P., Dr. J. C. Keller;
J. Ryan; Gen. Mgr., J. T. Hamil¬
Sec., G. A. Schneebeli; Treas., Thomas
ton.—V. 103, p. 2156; V. 104, p. 765.
n.
pennsgrove,
&
SALEM
j.
PENNSGROVE TRACTION CO.
ORGANIZATION.—Incorp. in New Jersey Sept. 14 1915.
Completed
a line from Penasgrove to Salem. N. J., 14 miles long, of which 3H
mile6
between Pennsgrove and Deep Water Point has been in operation since
Aug.-15 1916, and the whole line to Salem (14 miles) since Jan. 22 1917.
70-lb. T rails; gauge, 4 ft. 8H in.
15 pass, cars, 1 combination snow plow
and work car.
Voting Trust.—Tne stock has been placed tn a voting trust for five years,
which dividends are restricted to 6% per annum until at least bsuf
jndef
of the 2d
yf
mtge.
sooe, nno
bonds and all of the
have
1st M. bonds outstanding in excess
iv»
Increase.—Effective Feb. 28 1920 was auth. by the N. J. P.
Comm. to increase fares from 5 to 7 cents in each of the five zones.
Fare
1090.
Equipment Trust.—See V. 110, p.
U.
V.
110, p.
1527.
Interest.
Outstanding.
Maturity.
$187,500
6 g J-D
398 700 Dec 1 1935
c*tf l Int.at Pa.Co .for Ins.onLives.&c., Phila. .trus.
$100,000/ 1915
6 g J-D
93,000 Dec 1 1936
STOCK AND BONDS—
Stock
Date.
$850,000 ($100)
gold
$500 and $1,000)
1st mtge $750,000
Second
mortgage
-
($100.1 1915
-
c*tf\Int.at Wilmington-(Del.) Trust Co.. trustee.
($1.000)
gold
B<mds.—Remaining first mtge. bonds are issuable for additional equip¬
power
The mortgages provide that the
plant and other property.
company's net Income be applied—80% to
the 1st M. and 20% to the 2d M.
bonds—to the purchase or bonds at not over par and interest, or to their
call at that price, the bonds to be canceled.
This sinking fund, however,
is not to exceed $.50,000 In any one year and Is to be reduced to 2% of
bonds outstanding when half the 2d M
bonds and ail 1st M bonds out¬
standing In excess of $225,000 have been retired.
The fund became opera¬
tive July 1
1917.
$33,700 1st M. and $7,000 2d M. bonds have been
retired.
Both Issues are redeemable, all or part, at par and int. on any int.
date on four weeks* notice.
The 2d M. bonds are all owned by E. I.
du Pont de Nemours & Co.
Gross
Net, after
Earnings. Tax.,Depr.,&c.
Bond
Int.
Balance,
Surplus.
$29,502 def.$60,982
31,601
15,273
Dec. 31 1919—.$143,998 def.$31,480
Year ending Dec. 31 1918— 231,341
46,874
Year ending
CO.
TDATTION
10 1919 the co.
Dec. 31 1917, gross, $102,808; net,
In 1916, gross, $90,599; net. after taxes, $23,498.
EARNINGS.—Year ending
taxes,
EARNINGS.—
Period Covered—
patchogue, long island, n. y.
1942
130.000
5g J-J
gold/ 1912
$130,000
mtge
($500 & $1.000)
ment.
pascagoula, miss.
PASCAGOULA STREET RY. & POWER CO.
Sale and Abandonment.—The co. s property was sold at a receiver s sale
early in September 1919 to E. J. Ford, attorney, a member of the firm of
White & Ford of Pasragoula, for $60,500.
The rails, we understand, have
been taken up and the filing itock, &c., sold.
It is stated that the light,
water and ice plants will be remodeled and operated.
V. 109, p. 2172.
JForJtiistory see "Electric Railway" section of Nov. 15 1919.
pa.
ELECTRIC STREET RY.—A trolley road.
SLATE BELT
-
"bFFIGERS.—Pres., G. M. Alexander; V.-P., Thos. Logan; Sec. &
Treas., O. F. Lough; Asst. Sec. & Asst. Treas., S. E. Miller.—V. 104, p.
1145, i702; V. 105, p. 1522; V. 110. p. 561.
On Oct.
(after
$4,588.
KANAWHA
Control.—On
Electric Co.. and on
Dec. 31 1918, gross, $240,757; net
taxes), $14,069.
In 1917, gross, from railway only, $62,389; net
taxes), from railway, def. $12,175; net from other sources, $48,529; non-oper.
Income, $38; total income, $36,392; fixed chges., &c„ $40,980; def.,
of the
Mass.—V, 109, p.
when
Inter¬
pref. stock up to Dec. 1917. None
1907, 3H%; in 1908, 4%; in 1909,
since.
EARNINGS.—For year ending
bonds
See V. 71, p. 913.
outstanding bonds and the proposed Issue.
the
est on
hofuers
Latest
rate of
$10.80 per bond outstanding, beginning Oct. 1903.
The remaining
can only be issued for extensions, &c., at 75% of actual cost, aud only
aet earnings of the previous 12 months are equal to at least twice the
all (except directors' shares)
Paducah Realty Co. The
$320,000 escrow bonds may only be issued under certain restrictions
trust deed.
$100 are held in treasury.
Red. at 100 and int. at any
on 30 days' notice.
The 6% debentures are convertible at option of
into 7% cum. pref. stock after Jan. 1 1924.
stock has been reacquired by the co.
on any
issue (but no fractional parti can be redeemed
110 and interest.
Sinking fund Is provided at the
Bonds.— Wuoie
Interest date at
,
"property, the 1st mtge. bonds are secured by
the stock of the Paducah Railway Co. and
[Vol. 111.
RAILWAYS
OFFICERS.—Pres.. J. Elliot Newlin; V.-P., A. F. Porter; Sec. & Treas..
Carl N. Martin.—V. 102, p.
886; V. 104,
p.
765; V. 110, p. 1090, 1527.
Railway" Section of Sept. 29, 1918.
pensacola, fla.
pa.
patton
PENSACOLA
'
CAMBRIA RY. CO.
ORGANIZATION.—Organized as successor to'the Northern Cambria
1918. V. 106, p. 2229.
NORTHERN
Street. Rv. no., sold under foreclosure Mar. 31
Fares — In June 1920, cash fares were raised
to 10 cents.
EARNINGS.—For cal. year 1919. gross, $72,394; net, $3,562.
ROAD.—Operates 13 miles between Patton, Barnesboro and Carroll
town.
Standard gauge, 70-lb. T and girder rails.
OFFICERS.—Pres., Jas. H. Allport; V.-P., Rembrandt Peale; Sec.,
O. L. Calahan; Treas., C. A. Sharbaugh.—V. 106, p. 2229, 2450.
peekskill, n. y.
PEFKSKILL LIGHTING & RAILROAD.
In'l909 Westchester Lighting Co., controlled by
Consol.Gas Co.ofN. Y.
turchased&the entire common stockLighting Co., of pref. p.
igbting
RR.
See Westchester and a block V. 89, of
the Peekskill
108.
ORGANIZATION.—Incorporated as the Peekskill Lighting Co. on July
subsequently purchased the Peekskill Gas Light Co. and Peekskill
Electric Light & iPower Co.
Name changed as above upon purchase of tbf
Peekskill Traction on Aug. 31 1900.
Comprises all the gas. electric light,
power and street railway Interests of Peekskill.
Franchises of electric-
ELECTRIC CO.
Receivership.—In Jan. 1920 Federal Judge Sheppard appointed James €1.
complaint of the Old Colony Trust
unable to operate at a profit on a 5-oent
Holtzclaw, receiver for the company, on
Co., Boston, the company being
fare.
V. 110, p. 465.
ORGANIZATION.—Incorporated in Maine on July 6 1906. and Is suc¬
to the Pensacola Electric Terminal Co.
Owns the securities of the
Elec. Light & Power Co.
Does all the street railway
and (through the Escambia County Elec. Lt. & Pow. Co.) the entire electric
lighting and power business of Pensacola.
Railway franchise expires 1b
1933: lighting franchise perpetual.
In Jan. 1919 issued $500,000 2-yr. 7% notes to retire a like amount of
3-yr. 6% notes due at that time.
In order to retire floating indebtedness
amounting to $220,000 and to provide for exts. and impts. under construc¬
tion, the co. issued In Jan. 1919 $420,000 1st Mtge. 5s due Aug. 1 1931.
V. 108, p. 79.
cessor
Escambia County
8TOOK AND BONDS—
1st
$1,500,000
mtee
12 1900;
and railways are perpetual.
Gas franchises liberal.
has been auth. by the Village of Peekskill to increase
See also V. 108, p. 2529.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity
Common $500,000 ($100)
-v--.
*?00,000
1910,
Preferred $150,000 6% cum..
6 J-D
130,500 Doc 17, 3%
1st mtge $750,000 ($1,000)7 1900
5gA-0
646,000 Oct 1 1930
gold sinking fund
c* I Interest at N. Y. Trust Co., N. Y., Trustee.
ligbHne plants
The
6 cents.
4§
J-D 1
gold..tf( 1906
tint
Ooumo notes $500,000 goldf
5 g F-A
at Old Colony
1919
7
g
J-J
Outstanding.
$800,000
300.000
Maturity
*'
See text
1,218.000 Aug 11931
Tr. Co., Boston .Trustee
281.900 Jan. 1 1921
(SnX). $500 & $ 1,000).c*tf lint, at Old Colony Trust Co., Boston. Trus.
Stock.—The preferred stock Is redeemable at
Bonds.—$159,000
company
fares to
Interest.
Date.
Common $1,050.000 ($100)—
Pref $500.000 ($100) 6% cum-
of cost.
Dec. 1
on
are
115.
reserved for additions and improvements at 80%
A
sinking fund of 1
per annum of bonds outstanding began
1907, first five payments were waivable, but became a fixed charge
Dec. 1
1912.
Bonds subject to call
as a
whole at
any
time at 105 and
int., and in part for sinking fund only.
V. 83, p. 156; $123,000 have been
Coupon notes are callable as a whole at 101 and int. on 30 days'
canceled.
notice.
$218,100 Is in treasury.
ELECTRIC
Oct., 19.0.]
Dividends.—First $
of 3%, was paid on pref. June 1 1907 and 3% was
paid Dec. 2 1907.
In
'.'08 June dividend passed because of strike on com
pany's lines.
None to Dec. 1909. when 3% regular and 3% extra on
account
of accumulation
were
account of accumulations; June 1910 3% regular and 3% extra,
ail accumulations;
Dec.. 3 0In 1911. 1912 and 1913, 0%.
paying up
In 1914.
June, 3%.
None to June 1110, when 3% was paid.
In Dec. 1910 3%
and l\4% extra account of accumulations.
In 1917, 0%.
In 1918, 0%.
Dividends in arrears, 10H%.
EARNINGS.—For 12 months ending Dec. 31:
Gross.
Net (after Tax.)
Interest.
Year—
1919
$543,592
506,050
1918
ROAD.—Operates
21.7
miles
Sink.Funds.
Rys. Co.
Upon the acquisition of the com. stock and the
thereof to the bondholders, the bondholders will become com.
of the American Rys. Co. to the full amount of the stock now
amount
OFFICERS.—Pres., Geo, J. Baldwin, N. Y.; V.-P., Chas. F. W. WetB. Sawyer; Managers, Stone &
Webster Mgt. Assn., Boston. Mass.—V. 108, p. 79; V. 110, p. 465.
PEORIA, ILL.
PEORIA RAILWAY TERMINAL CO.—For statement of this company
our
"Railway and Industrial" Section.
see
CAL.
PETALUMA,
&
SANTA
ROSA
pledged
RR.
follows:
as
'
STOCK AND BONDS—
1st mtge 25-yr $750,000
"•••■
Maturity i
Outstanding.
$770,700
6%
173,600
5M g M-S
698,400 Sept. 1 1943
Com stock $1,000,000 ($100)Pref cum .$250,000 ($100)
($100/ 1918
g
i._:
c&r (First Federal Trust Co., San Francisco, Trus.
Stock.—The common stock Is deposited with the First Federal Trust Co.
for 7 years under proxy agreement; pref. stockholders have the right to
& $1,000)
elect a
majority of directors in case of non-payment of their dividends.
Preferred stock is redeemable at par.
Bonds.—Callable at 105 for sinking
earnings ordinarily applicable to com.
fund.
The
mtge.
provides
divs. shall be apportioned
as
that
follows:
(1) If earnings justify and conditions permit, a div. of 2 H % shall be paid
on com. stock.
(2) Any amount remaining after such payment shall be
distributed 50% to common stockholders, 25% to a trust fund to retire
1st M. bonds and 25% to retire preferred shares.
Remaining unissued
bonds are reserved for construction.
Int. payable in New York & San Fran.
Dividends.—On pref. stock are being paid regulaily.
1% was paid on
the com. stock in 1919.
In 1920, 1%.
Dec. 31:
Year—
Gross.
Net.
Other Inc.
Charges.
1919
.$370,181
$120,608
$725
$54,383
1918
340,508
92,640
492
59,398
590,478 railway passengers carried in 1919, against 551,820
114,250 tons freight in 1919, against 120,077 in 1918.
EARNINGS.—For
years
ending
——
-
to be not less than $900,000,
which is immediately re¬
Surplus.
$66,950
33,734
in 1918,
ROAD.—Operates 43 miles of track from Petaiuma through Sebastopol
Santa Rosa, with branches Sebastopol to Forestville and Liberty to
Rocks.
Connects at Petaiuma with steamers for San Francisco.
Owns steamers "Gold" and "Petaiuma."
Standard gauge.
70-lb. T rails.
to
Two
OFFICERS.—tPres., Thomas Maclay, Petaiuma, Cal.; V.-P. & Gen.
Mgn, E. H. Maggard; Treas., Geo. P. McNear Sec., R. W. Wise; Aud.,
H. W. von Emster.—V. 107, p. 697, 906, 1193,1580,1670.
PHILADELPHIA, PA,
UNITED NATIONAL UTILITIES CO.—A holding co.
ORGANIZATION.—Incorp. in Del. Feb. 26 1917, and has acquired
practically the entire common stock of National properties Co. (see below).
Through its subsidiary companies supplies electric light and power to more
than 50 cities and towns in Eastern United States, gas to 11 cities and towns,
and operates 623 miles of electric railway service in portions of the same
territory.
See V. 104, p. 1703.
Franchises either perpetual or for long
periods; no burdensome restrictions.
The pref. stock was brought out in April 1917 at the rate of $1,000 pref.
and $500 com. stock for $1,000.
V. 104, p. 1703.
The Utilities Service
Corp., Phila., which brought out the stock, also offered to exchange the
stocks of the United National Utilities Co. for 4-6% coll. tr. bonds of the
National Properties Co. on the basis of $700 0% pref. and $350 com. stock
of the United Co. for $1,000 bond of the National Properties Co.
The company being unable to take up the $1,800,000 6% collateral trust
notes due March 1 1920, it was arranged to extend same for 3 years at 7%.
Y. 110. p. 659.
Date.
Interest.
Outstanding.
Maturity.
($100)
$3,000,000
Pref.6% cu.$10,000,000($100)
Q-M
2,500.000 Dec *171
Coll.
tr.
notes,
$1,800.00011917
7 M-S
1,800,000
Mar 1 1
($1,000)t f 1 Pa. Co. for Ins. on Lives. &c., Phila., trustee.
STOCK AND NOTES.
Com. stock. $10,000,000
as
collateral for the 4-6% bonds were ordered sold at public auction
U. S. Dist. Court. V. Ill, p. 1183, 1661.
Nov. 8 1920 by the
.on
Interest.
Date.
estimated
quired to take care of accounts payable of the American Rys. Co. and its
subsidiary cos.
In addition to these accounts payable the American Rys.
Co. owes about $3,500,000 of notes payable to banks and bankers, which
the plan further provides shall be funded into a 5-year 8% note of the co.
secured by bonds of the subsidiary cos. to the extent of about $4,550,000,
thus funding the floating indebtedness of the American Rys. Co. for 5 years.
At last accounts over 90% of these creditors had assented to the plan,
contingent, however, upon the American Rys. Co. being provided with the
$900,000 in cash called for under the plan.
Provision is made under the plan that such depositing bondholders -who
are unable or unwilling to provide funds for additional working capital, will
receive 30% of the face of their bonds in com. stock of the American Rys. Co.
and their place will be taken and cash provided by an underwriting syndicate.
A second protective committee has been formed which has issued a state¬
ment (V. Ill, p. 792) opposing the above plan.
This committee consists
of: Chairman, V. Gilpin Robinson; J. J. Sullivan Jr., James A. I. MacMeekin, Joseph H. Shoemaker and James E. Gorman.
Depositary, Provi¬
dent Life & Trust Co., Phila., Pa; V. Ill, p. 792.
Foreclosure Sale.—The 181,860 shares of American Rys. com. stock
of track: standard gauge; 35 motor and
Power station has 2.800 k. w. capacity
ORGANIZATION.—Incorporated in California on Aug. 23 1918 as suc¬
cessor t6 the Petaluma St Santa Rosa Ry. in accordance with reorganization
plan outlined in this publication of Sept. 29 1918.
Fares and Rates.—Effective Aug. 23 1918 was auth. by the Cal. RR.
Comm. to increase passenger by 5 cents and freight rates 25%.
In Oct. 1918 the Cal. RR. Comm. in a supplementary order auth. the
co. to Issue $1,000,000 com. stock, $173,600 6% cum. pref. stock and $698,400 5H% 25-yr. 1st mtge. bonds.
Capitalization as of Oct. 1 1920 was
distribution
stockholders
deposited a
security for their bonds, provided they pay the above subscription.
This
subscription will provide the American Rys. Co. treasury with cash to an
terer: Sec., Geo. A. Peirce; Treas., Haney
PETALUMA
1278, 1370] will receive a like amount of 7% income bonds of American
p.
Surplus.
$1,789
58,601
$100,485
87,067
$102,274
145,668
11 trail pass, cars and 8 other cars.
Subscriber [50% of the $17 50 per $100 of bonds deposited was due Oct. 5
1920 and the remaining 50% must be paid before Nov. 1 1920. V. Ill,
March 1910 paid another 3% on
paid.
101
RAILWAYS
Date.
8TOCK AND BONDS—
Interest.
1910
6 J-J
See text
Common $10,000,000 ($100)—
Pref cum $10,000,000 ($100)
Coll trM $7,000,000 (par not)
less than $100)
Stock.—$7,900
ts
-
-
-
—
—
com.
Maturity.
Dec l7,1%
See text
Outstanding.
$2,491,400
1.699,400
6,533,000 Jan
11946
__jContinental-Equip^T^& 1'. Co. . PhlL^Trus.
stock in additionto
amount reported outstanding
held In treasury.
Pref. stock sink. fd. provision began. Jan. 15
Bonds.—The coll. trust bonds bear int. at 4% for first two years,
1918.
4>4%
thereafter, with a provision to increase the Int.
rate to equal the rate of dividend, up to 6%, paid by the company on Its
common stock.
Red. on or after Jan. 1 1921 at 102M and int.
Secured
by deposit of common stock of the American Rys. Go. acquired in exchange
for the bonds and the additional $2,560,000 common stoca received in ex¬
change for Wilm. & Phila. Trac. stock, against which no bonds will be
issued. V. 101, p. 1714. See above under "Financial Plan."
Report of Engineers to Randolph Committee.—V. Ill, p. 1366.
Dividends.—6% was regularly paid on pref. stock (3% semt-ann.) from
July 1913 to and incl. Jan. 1918
July 1918 and Jan, 1919 divs. were
omitted.
In July 1919 a div. of 3% was paid.
Initial div. on com.—2%—
paid July 1910; Dec., 3%.
In 1917, July, 2%; Sept., 1%; Dec., 1%.
for next
2 years and 5%
OFFICERS.—Pres..
Van
Ely.
Horn
Phila.;
V.-P., A. M.
Pittsburgh; Sec. & Treas., H. P. Carr, Phila.—V. Ill, p.
389, 588, 792, 896, 1084, 1183, 1278, 1366, 1370, 1661,
^
Robinson,
74, 189, 294,
THE AMERICAN RAILWAYS CO. (of New Jersey).
On Jan. 1 1916 the National Properties Co. acquired control
,
ORGANIZATION.—The American Rys. Co. was incorp.
^
through
See remarks
purchase of practically all of the company's com. stock at par.
under "Organization" below.—V. 101, p. 1464, 1712, 1805.
•
under laws of
the former American Rys. Co. and the
United States Electric Ry. & Light Co., which latter had only $1,000 of
outstanding stock.
In Feb. 1913. after the passage of the "Seven Sisters"
bills in N. J., as a precautionary measure, a Delaware charter was taken out
by the "American Railways Co. of Del.." with the same authorized capital
stock as The Am. Rys. Co. (of N. J.), but with only $1,000 paid In.
The
Am. Rys. Co. held this $1,000 stock and subscribed to the remainder.
In
Dec. 1915 the Am. Rys. Co. of Del. called on The Am. Rys. Co. to take
$1,500,000 pref. and $2,500,000 com. stock, and accepted in lieu of cash,
same par or stock of the latter, with which it (the Del. co.) acquired the
stock of the Wilm. & Phila. Trac. Co.
In Dec. 1905 purchased a controlling interest in the Scranton Ry. Co.,
N. J. In 1900 as a consolidation of
payin^par^ ($50) for both common and pref. stock. V. 81, p. 1847; V. 82,
P
In Jan. 1910
acquired control of the Johnstown Pass. Ry., the Lynchburg
and the Roanoke Trac. St Light Co. (V. 89, p. 1595;
and made two new issues of collateral trust bonds to provide
In part for cost of same.
V. 89, p. 1595; V. 90, p. 235.
In Jan. 1914 the
Amer. Rys. sold the Johnstown Pass. Ry. stock to the Johnstown Traction
Co. (see under "Johnstown") and the collateral trust bonds were called for
Trac. & Light Co.
V. 90. p. 235),
payment July 1 1914.
The Peakland Corporation was
.
formed
_
,
_
M,n
nnf%
1909-10 with $50,000
during
owned by American Rys.), to acquire and own real estate in
vicinity of Lynchburg.
In Aug. 1911 acquired the Ohio Valley Elec. Ry. and issued $2,000,000
coll. trust bonds to pay for same and for ext. and lmpts.
V. 92, p. 1435;
stock (all
V*On3March6l'l917
acquired the National Gas, Elec. Light St Power
Co.
(V. 101, p. 135.)
In May 1917 acquired the Jersey Central Traction Co,
(which see under VKeyport, N. J.") and the Monmouth Ltg. Co.
In Jan. 1917 $1,760,000 10-year 5% coll. trust bonds were Issued to
provide in part for the $2,500,000 bonds maturing April 1 1917.
The new
bonds are secured by the same collateral as the original issue. V . 104, p. 301.
In Feb. 1919 Issued $3,000,000 3-yr. 7% notes to take up $1,072,000 5%
notes which fell due on Feb. 1 1919 (the major, part of the old issue being
exchanged for new notes), and to provide funds for corporate purposes.
^
Preferred Stock.—In case of liquidation or dissolution or distribution of
assets, holders of pref. stock shall be paid par and divs. before any amount
shall be payable to holders of com. stock.
Callable at any div. period at
voted in favor of a new issue
105 and divs., and no additional shares can be Issued except under proper
restrictions.
Notes.—The direct obligation of the co. and secured by $2,500,000 (entire
was so
issue) Nat. Properties Co. com. stock and $570,000 American Rvs.-Jersey
Central Traction coll. trust 6s.
Red. any Int. date at 101 and int.
Tax
refund In Pennsylvania.
These originally bore interest at the rate of 6%
per annum
and matured March 1 1920, but have been
extended to March 1
V. 110, p. 659.
Dividends.—Quar. divs. of 1 >4% on pref. stock were
1923 at 7%.
^
paid
reg.
V.
to and incl. Dec. 1917.-
Pref.
Ill, p. 587.
_
($50)—
Pref 7% cum $4,000.000($100>
3-yr secured notes $3,000,000/
conv
Utilities Co.—see above.
ORGANIZATION.—Incorp. In Del. in May 1912 to acquire and oper¬
gas, electric and
water companies, and street or interurban railways
other public utility properties.
Also owns or controls the Water Co. of
Tonopah, Chester County Lt. & Pow. Co. and New Castle County Elec. Co.
Acquisition oj American Rys.—As of Jan. i 1916 acuulreu control of the
American Railways Co. through purchase of a majority of its $6,713,150
common stock then outstanding, paying therefor at par in guar, coll. trust
bonds. (As of Sept. 11 1917, $6,479,750 of the stock had been so acquired.)
At the same time it turned over to the American Rys. Co. of Del. its hold¬
ings of $4,060,000 com, stock of the Wilm. & Phila. Trac. Co., receiving in
payment a further amount of $2,560,000 com. stock and $1,500,000 pref.
stock of The American Rys. Co. of N. J.
See V.101, p. 1473, 1714.
Total
common stock of American Rys. Co. owned as of Sept. 11 1917, $9,039,750.
Interest in Default, &c,—Owing to the failure of the American Railways
Co. to pay a div. in June 1920 on its com. stock (which is pledged to secure
the coll. trust bonds) the co. gave notice that it would be unable to pay the
int. due July 1 1920 on the $6,479,750 4-6% coll. trust bonds. V. 110, p.
ate
er
2487; V. Ill, p. 74.
The following protective committee has been formed
and has called for deposits.
Committee for Coll. Trust 4-6% Bonds.—Chairman, Evan Randolph; John
Simpler; Sec., L. J.
Insur.
493.
by the
declared operative. For details of original
Gribbel, Arthur V. Morton, Wm. A. Law, Claude A,
Clark, 517 Chestnut St., Phila., Pa.
Depositary, Penna. Co. for
on Lives <fc Granting Annuities, Phila.
V. 110, p. 2487; V. Ill, p
Financial Plan.—On Aug. 16 1920 an amended plan formulated
above-mentioned committee
was
plan see V. Ill, p. 189The amended plan (full details in V. Ill, p. 588)
provides; For the acquisition by the committee of all of the com. stock of
American Rys. Co ..'now deposited as security for the coll. tr. bonds and for
a cash subscriptionlof 17M%lof thejface valuejof the bonds forjwhich each
7 F-A 1
gold/
5 F-A
2.500,000
Merchants* Un. Tr. Co..
5 J-J
$2,000,000
1910
5 J-J
987,500
1911
($500 & $ 1.000).c*tf lint, at
Ohio Vail Elec coll
trgold.ntf
1911
1 1931
Phila..Trus.
11901
Jan 11930
Aug
Jan
Lynchb & Roan coll trust?
$1,000,000 gold ($500 & jnt at Reaj jjg^ate Tit>e Ins. & Trust Co..
Philadelphia, Trustee,
$1,000)
c*tf
1917
5 M-S
982,000
Mar 11922
Nat Gas coll trust $1,000,000
($100, $500, $l,000).c*_tf Int. at Commercial Tr. Co., Phila., trustee.
0 g M-S
570,000 Mar 1 1947
Jersey Central Tract coll tr/ 1917
„
NATIONAL PROPERTIES CO.
Controlled by United National
_
See text
See text
3,000,000 Feb
1 1922
$9,400,00U
4,000.000
ciPenna.Co.for Ins.on L.&Gr.Ann.,Phila., Tr.
1917
6 M-8
1,760,000 Mar 1 1927
($1,000)
Coll trust $1,750,000 gold
Oollat Trust $2,500,000
1919
Maturity.
Outstanding.
Interest.
J-D 15
7 Q-F
Date.
STOCK AND BONDS—
Common $21,000,000
w
begun June 1 1917
V. 107, p. 2009.
None since.
OFFICERS.—Pres., Van Horn Ely; V -P., William C. Sproul; Sec. &
Treas., Walter W. Perkins.—V. 105, p. 1310; V. 107, p. 2009; V. 110,p. 659.
and
Stock—Financing Plan.—On May 18 1920 the stockholders
of $4,000,000 2d 7 % cum. pref. stock. V. 110,
originally planned to issue this stock in connection with
given under National Properties Co. above, but the plan
amended as to provide for the Issuance of 7% income oonds instead.
New'
p. 2290.
It was
the financial plan
,
_
$570,000 gold ($l,000)c*tflint. at Commercial Tr. Co., Phila., trustee
See text
45.000
trust
ctls
Series "A"/ 1913
0 F-A
($1,000)
tfl
See text
70.000
Car
trust
ctfs
Series "B"| 1914
0 F-A
($1,000)
—c'ntfI
5 F-A1
96 .000
See text
Oar trust certificates Ser "O" f 1910
Logan Trust Co. of Philadelphia, trustee.
($1.000)
cU
1917
0 A-O
149.000
See text
Car tr cert Ser D ($1,000) -c*t
Car
,
.
110.
Pref. & com. stock are
Stock Exch.
The pref. stock was auth. by share¬
889. 1038, 1200) and the auth. amount of
was reduced from $25,000,000 to $21,000,000.
securities pledged as coll. for notes, see V. 108, p. 577»
part on any int. date at 101 and int. on 60 days notice.
tax refunded.
Company pays normal Federal income tax.
SUM,.—Pref. stdck is red. at any time at
listed on Philadelphia
holders on Oct. 17 1912 (V. 95, p.
common
stock
Notes.—For
Red. all
or
in
Penna. 4 mills
V
108, p. 577*
stock of
Ry. Co.
suoject to
call on any Int. date at 102.
The collateral for the bonds consists of $2,250,000 stock (out of $2,500,000 issued) of the People's Ry. of Dayton and
$1,600,000 first consol. 6s of the Chicago & Joliet Electric Ry.
'
Lynchburg-Roanoke coll. tr. bonds are red. on any iut. day at 102^ and
Int.
They are secured by deposit of
14,975 shares and 9,725 shares of
Lynchb. Trac. & Lt. Co. and Roanoke Trac. & Lt. Co. stocks, respect!vdy.
Bonds are listed on the Philadelphia Stock Exch.
The Jersey Central TraoBonds.—The collateral for the
bonds of 1917 consists of $1,475,000
Altoona & Logan Val. Elec. Ry. and $1,975,000 stock of Scran.
Coll. trust oonds of 1911 have no sinking fund but bonds are
102
ELECTRIC RAILWAYS
tlon coll. trust 6s are all owned by the United National Utilities Co. and
deposited under its collateral notes.
Are secured by ¥531,400 com. stock
of the Jersey Central Traction Co. and $305,000 com. stock of the Mon¬
mouth Lighting Co.
Red. at 102H and int. on any int.date.
Car Trust Certificates.—Of Series "A15 certfs. mature Aug. 1 c-ach
year
to 1923 inclusive.
Series "B." 11 ctfs. mature Aug. 1
1915 to 1925 lncl
1 1926.
Series "C" ctfs. mature $12,000 yearly Aug. 1
They were issued by the Logan Trust Co. and uncondition¬
ally guar., p. & i. (end ), by the American Rys. Co. V. 103, p. 1031.
Series "D" certificates mature $21,000 each July 1 from 1918 to 1926 and
$23,000 July 1 1927.
15 mature Aug.
1921 to 1928.
CONTROLLED.—The following is
list of the securities owned by The
a
American Railways Co.:
.
Owned by
Book
Outstanding.
do
Lynchb. & Roan. coll. tr. 5s.
Am.R.Co.
Value.
$2,561,000 $2,561,000
1,500,000
1,500,000
2,000,000
726,500
623,195
987.500
1,500
1.393
do
preferred stock...
4.000,000
do I
Nat. Prop.—A. R
Amer. Rys. Co. of Del. common stock
$2,561,000
do
do
do
preferred stock.. 1,500,000
do
Ohio Valley coll. trust 5s
32,500
6.900.000
105.000
1,500.000
1,500,000
32.500
79.062
403,750
IConsol M. 4^8 3.754,000
Boyd County Elec. Co. stock
155,000
Bridgeton Electric Go./Common stock..
100.000
454,000
155.000
388.280
149.800
Altoona & Logan
Co
4-6s
Valley/Stock
100.000
92.270
11'referred stock..
50,000
50.000
50.000
Bridgeton & Millville(N.J.) (Stock
Traction Co
15s...
Chicago& Joliet Elec Ry./Stock...
fGen. M. 5s..
Chic. & Desplaines VaJ. EL Ry.fStock
500.000
500,000
459,364
500.000
16.000
2.300,000
1st M .5s
1.000.000
Chicago Rys. Co. participating ctfs
Consolidated Light, IIeat& Power stock
1,600.000
1.280,000
1,100.000.
58.193
1.000.000
800.000
115.237
530,000
530.000
150.000,
(3) Chicago & Desplaines Valley Electric Ry.
ORGANIZATION.—Incorporated in 1901 as a consolidation of the Chic.
Desplaines Valley Elec. Ry. and the Desplaines Valley Elec. Ry.
The
American Railways owns the entire capital stock, of which $1,000,000
is pledged under the mtge. of the Chicago & Joliet Elec. Ry., and also owns
the entire $1,000,000 bonds, the whole amount being pledged.
&
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$1,100,000
$1.000,0001 1901
5 M-N
1,000,000 May 1 1931
($1,000) gold..
c* tflInt. at Illinois Tr. & Sav. Bk., Chic., Trustee
Bonds.—The full issue of the first mortgage bonds has been deposited as
collateral security under the bonds of the Chicago & Joliet Electric RyEARNINGS.—For 6 mos. ending June 30 1920, gross, $75,589; net, after
taxes, $1,718; fixed charges, $35,805; bal., def., $34,087.
RUAD.—Extends from the Will County line, where it joins the Chicago &
Joliet Electric Ry.. to the city line of Chicago on Archer Ave. Total, 41.45
miles.
Branch from 8ummit to Lyons.
The through route Chicago to
Joliet was opened Sept. 25 1901
OFFICERS.—Pres.. Van Horn Ely; V.-Ps., H. J. Crowley and C. L. 8.
Tingley; Sec. & Treas.. Walter W. Perkins; Gen Mgr.. J. R. Blackhall.—
V. 73. p.183.
-
Stock. $1.100.000
First
121,676
1,600.000
1,100.000
gold bonds (tf) $1,000 each, dated July 1 1900. due July 1 1930, interest
J. & J. at office of the company: Real Estate Title Insurance & Trust Co.,
Philadelphia, Trustee.
Whole issue is pledged with the trustee of the
mortgage of the Bridgeton & Millville Traction.
This was done so as to
bring the two properties (which are practically one) under the one mortg e.
16.580
2,300,000
!
Dell wood Park Co. stock
Electric Co. of New
..
..
"
319.000
293,128
300.000
300,000
t Preferred.
Jersey Central Trac. Co.
Johnstown Trac.
40,000
40,000
59 507
40,000
10,000
common stock.
10,000
1 50.000
8.000
1,000.000
754,400
754,400
750.000
t Preferred
(Stock
531,400
750.000
751.124
Lynchburg Trac. & Lightest 5s
800,000
(ConsoLM. 5s.
720,000
Monmouth Lighting Co. capital stock..
305,000
National Gas, Elec. Light & Power Co.. 1,403,800
Ohio Valley Elec. Ry., common
2.000.000
People's Ry. of Dayton, O., stock
2.500.000
Roanoke Trac & Light stock
Scranton Railway
Co. Common
2.000
704.000
305,000
1,376,200
1.979,080
2.500,000
1.000,000
2,000,000
...
/Common
stock
975,000
2,000,000
1.000,000
265,061
5,146
1.800
598,8*7
305,000
963.384
2.128.07*'
2.734,229
781.124
2.005.200
39.959
500.0011
500.000
Union Traction Co. stock
The Peak land Corporation....
994,400
500.000
50,000
Springfield, O., Ry. Co.IPref. stock
Wilm. & Phila. Trac.
150.000
531,400
1,000,000
Co/Common
50.000
15.106
50.000
40,000
34,000
12,500
1st coll. trust 5s
Total book value.
.$22,053,952
REPORT.—For fiscal period:
Years ending Dec. 31—
1919.
Gross income, all sources $1,795,436
Interest, taxes, &c
1918.
$1,321,563
1,029,097
Net income
$624,319
Common dividends (35*%)331,101
Preferred dividends (7%)
280,000
1917.
874,130
$1,538,269
785.931
$292,466
$694,588
$752,338
N one(4%)378,400(4 %)378.400
280,000
280,000
280.000
$13,219
$12,466
$36,188
$93,938
COMBINED EARNINGS OF CONTROLLED COMPANIES.
Year—
1919,
1918.
1917.
revenues
expenses
Taxes
$16,312,231 $14,234,405 $12,863,405
and depreciation_$l 1,240,406 $10,065,673
$8,630,331
744,808
631,063
596,387
Operating income.
Non-operating income
Gross
$4,327,016
38,254
...
Interest, rents, &c
Sinking fund
Net
income
$3,537,668
125,588
$3,636,687
56,133
$4,365,270
$2,596,674
53,764
$3,663,256
$2,568,145
49,816
$3,692,820
$2,371,170
30,698
$1,714,831
income...
$1,045,296
$1,290,952
DIVIDENDS.—Quarterly dividends of 15*% each on pref. stock w«<r«
begun in Feb. 1913 and paid regularly to and incl. May 1920.
Aug. 1920
div. deferred pending completion of
financing plan given under "National
Properties Company" above. First div. on common stock, 1%, Dec. 1900.
In 1901 paid 1% each in Mar., June and
Sept.; in Dec. paid 1 4%.
in
1902 paid 14% each in Mar., June and Sept.; in Dec. 1902 div. was In¬
creased to 1H%, which rate was continued
up to and including Sept. 1914
i1?.1^00',1914 rate
was reduced to 1 4 % (V. 99. p. 1450).
In 1915 Marph
lK%t June, 1 4%; in Sept. 1915 rate was further reduced to 1% (V. 101,
5261; Dec., 1%.
In Jan. 1916 dividend periods were changed to June
and Dec. 1915. V.
102, p. 436. In 1916 and 1917. 4%.
June 1918 divi¬
dend passed.
V. 106. p. 2227, 2343.
None to June 1919, when 15*%
was paid. In Dec. 1919, 1
5*%.
None since. V. 1,10, p. 2386.
p.
—Total track about 435 miles; about 789
cars.
See also Wilming¬
owns about 316 acres of land for
parks
Bridgeton. Joliet, Lynchburg andRoanoke
,
ton & i hila. Trac. Co. below.
Also
In Altoona, Dayton, Springfield,
OFFICERS of The American Rys. Co.;
Pres., Van Morn Ely. V.-Ps.
John Gribbel. C. L. S.
Tingley; Sec. & Treas., Walter W. Perkins; Asst
Sec., Asst. Treas & Comm. Frank J. Pryor Jr., Ger. Counsel. H. B. Gill
Gen. Mgr., H. J. Crowley.
General offices, Wltuerspoon BIdg.. 1321
Walnut St., Phila.—V. 110, p. 1186, 2075, 2191, 2290, 2386, 2487; V. Ill,
p. 188, 488, 492, 587, 790, 1082. 1182, 1277, 1369.
^
Millville Traction.—Trolley.
as successor May 3 1897
Jqrsey Traction Co., sold in foreclosure.
Company owns
trolley road.
Franchise is perpetual.
Y,^«NIZAriON.—-Chartered In New Jersey
to the South
toll roads besides the
In Nov. 1917 the New Jersey P. U. Comm.
approved the action of the
company in abandoning the special rate of 6 tickets for 25c. and 50 for $2
On April 29 1919 the company was authorized
by the N. J. P. U. Comm. to
zone from 5 cents to 6 cents and also
to raise the rates
increase fares in each
forfraghtseryice.
mitted.
V.
An increase in the rate for school tickets
108, p.
Date.
Interest.
Stock, $500,000 ($50)
First
$500,000.
guar
($1,000
and
(cannot be called)
mtge
was not per¬
1822.
STOCKS AND BONDS—
gold,f
1900
Outstanding.
5 g J-J
at Equitable
$500)(Interest
*ctf(
phia. Trustee.
Maturity.
$500,000
500.000 Jan. 11930
Trust Co., Philadel-
Bonds.—For form of guaranty by American
Railways Co. see V. 71. p
491.
The bonds were listed on the
Philadelphia Stock Exchange in Feb
1901.
The following are deposited as security under the
mortgage:
1,000 shares of the stock of the Bridgeton Rapid Transit Co.
377
"
"
"
"
"
"
Bridgeton & Millville
Turnpike Co.
$250,000 (entire issue) 5% gold bonds of the Bridgeton Electric Co.
EARNINGS.—For 6 mos. ending June 30 1920, gross $87,716; net, after
taxes, $11,302; fixed charges, $12,588; bal., def., $1,286.
ROAD.—Bridgeton to Millville,
miles; Bridgeton, local, 54 miles.
others, 5;
total, 34.
\
11
miles; Bridgeton
Total, 37% miles.
Bivalve, 211^
Cars:
pass., 29.
to
OFFICERS.—Pres., Van Horn Ely; V.-Ps., H. J. Crowley and C. L. 8.
Tingley; Sec A Treas.. Walter W
Perkins: Gen. Mgr., B. F. Hires.—
v. 72, p. 282; V. 105. p. 2093; V. 108, p. 1822.
'2) Bridgeton Elect ricCo.—Acquired in 1899by American Railways Co,
ORGANIZATION.—Chartered In New Jersey Dec. 2 1895.
Supplies
Ightand power in Bridgeton, Cedarville, Newport, Fairton, Dividing Creek
nd Port Norris, N. J.
Stock, common auth. and outstanding. $100,000;
auth. $200,000; outstanding, $50,000.
Bonds. $250,000 lstM.5%
Ry.—Trolley.'
as a consolidation of the Chicago &
Electric
stock.
Joliet. which
STOCK AND BONDS—
Stock. $2,300,000 ($100).....
Chicago & Joliet Electric Ry]
$2,000,000 ($1,000) c'tfl
g.
V.
Date.
109, p. 981.
Outstanding
$2,300,000
Interest.
....
Maturity.
—
5 g M-N
1.600.000 May 1 1931
Int. at Illinois Tr. A Sav. Bk., Chic., Trustee
1901
Joliet RR general mtge, gold
1898
5 g M-N
400.000
Apr 30 '23
$400,000 ($1.000 each)., tfl Fidelity Trust Co.. Portland (Me.), Trustee.
Bonds—Of the new $2,000,000 mortgage. $400,000 are reserved to retire
underlying liens.
$2,200,000 of the outstanding capital stock of the Chi¬
& Joliet Electric Ry., $1.000.000 of the $1.100,000 stock and $1,000,Electric Ry. are
deposited under this mortgage as collateral security.
Entire issue of the
$2,000,000 gold 5s may be called at 105 and int.
The $400,000 Joliet RR.
gen. mtge. 5s originally fell due in 1918, but were extended for 5 years.
V. 106. p. 1343.
cago
000 (entire issue) bbnds of the Chicago & Desplaines Valley
EARNINGS.t-For 6
mos.
ending June 30 1920,
$553,207; net*
gross,
after taxes, $140,509; fixed charges, $129,673; bal. surp., $10,837.
ROAD.—Extends from Joliet to the Will Couuty line, where It connects
with the Chicago & Desplaines Valley Electric
Ry
for Chicago.
Has
85.23 miles of track (incl. Ch
& D
V
El. Ry ).
Line between Joliet and
was formally opened Sep!
25 1901, 82 passenger and 18 other cars.
OFFICERS —Same as for Chicago Si Desplaines Valley Electric Ry.—
.
^Chicago
V. 73, p
722; V. 106, p. 1343; V. 107,
p.
500: V. 109, p. 981; V. Ill, p. 692
People's Railway (Dayton).—A trolley road
Acquired in 1899 by the American Railways Co.
1916.
$1,568,718
Calendar
Operating
Operating
Joliet
&
(5)
1,171.117
arplus
Chicago
to increase fares to 10 cents for adults.
157,5001
319.000
J./Common.
10,000
150.000
(4)
ORGANIZATION.—Incorporated
Joliet Rapid Transit Co., the Joliet Street Ry. and the Joliet RR.
Is oper¬
ated by power purchased from the Public Service Co. of Northern Illinois.
The American Rys. owns $1,600,000 bonds and the entire $2,300,000 capital
In Nov. 1905 the American Rys. purchased 63 acres of land near
was converted into a park.
This park Is owned by,the Dellwood Park Co.. all of whose stock is held by the American Railways Co
Fare Increase.—In Sept. 1919 the Illinois P. U. Comm. auth. the co.
15s
Franklin Real Estate Co. stock
Iron ton Electric Co. stock
mortgage.
150,000
156.519
530.000
*
150,000
157,500
Jersey/8tock
Electric Securities Co., N
[Vol. 111.
.
ORGANIZATION.—Incorporated In Ohio June 18 1896
Comprises 31
operates 99 cars.
The American Railways
In June 1908 authorized amount of stock
miles of track in Dayton. Ohio:
Co. owns entire capital stock.
increased
was
In Aug.
rrom
1920
$1,100,000
was
to
$2,500,000
auth. to increase fares from 5 to 7 cents,
STOCK AND BONDS—
Stock. $2,500,000 ($100)
Interest.
Outstanding.
Maturity.
$2,500,000
1895
5 g A-O
Line,'
300.000
Oct 1 1925
$300,000 ($500) gold, red/ Interest at Union Savings Bank & Trust Co.,
Oct 1 1900 at J10-.
ntf
Cincinnati, Trustee.
First
1897
5 g J-J
mtge
"People's
Ry"
200.000
Jan 1 1927
$200,000 ($.500). gold, red Interest at Union Savings Bank & Trust Co..
First
at
mtge
Date.
"White
110
ntf
Cincinnati, Trustee.
EARNINGS.—6 mos, ending June 30 1920, gross, $383,196; net, after
taxes, $69,190; fixed charges,. $17,574; bal., surp., $51,616.
OFFICERS.—Pres;, John A. McMahon. Dayton
V ,-Ps., H. J. Crowley
and C.
Gen
L. S.
ingley, Phila.; Sec. & Treas.. Walter W. Perkins, Phila.:
Mgr., Geo. O. Towle.—V. 86. p. 1530; V 97. p. 176.
(6> Springfield (Ohio) Railway.—Trolley
ORGANIZATION.—Incorporated In Ohio Oct. 20 1892;
the common stock
and
5.000 shares of the pref
9.944 shares of
stock have been acquired
by the American Railways Co.
For details of franchise under which
operates see this publication of April 24 1920.
STOCK AND BONDS—
Common (par $100)-.
Date.
Interest.
co.
Maturity.
Outstanding.
$1,000,000
-
1500,000
6%
500.000
First mtge $5,000,000
($100./ 1914
5 g M-S
1,156.000
See text
$500 & $1,000) g s f._c*ntf\Int. at Real Est. T. & 1. Tr. Co., Phila., Tr.
Preferred
Bonds.—$400,000 of the above outstanding bonds provided for by serial
maturity, 1. e., $12,500 due Sept. 1 1914 to 1923 incl., $25,000 due Sept. 1
1924 to 1934. the remaining bonds ($4,600,000) due Sept. 1 1935Sinking Fund.—When more than $1,250,000 bonds outstanding, sinking
fund of 1 % to 1923 and 2% thereafter of bonds outstanding over and above
the $1,250,000 of original issue.
The escrow bonds ($3,756,000) reserved
for extensions, betterments, &c.. at 80% of cost.
Redeemable any interest
date at 102 and Interest.
V. 98, p. 1609.
ROAlf).—Owns 39 miles of track.
EARNINGS —6
Operates 82
passenger cars.
ending June 30 1920, gross, $339,071; net, after
taxes, $65,116; fixed charges, $54*145; bal
surp., $10,970.
OFFICERS.—Pres., Paul (3. Martin; V .-Ps., U. J. Crowley and O. L. S.
Tingley; Sec. & Treas., W. W. Perkins; Asst. Sec., Treas. & Comp., F. J.
Pryor Jr.: Gen. Mgr.. Geo. C. Towle.—V. 98, p. 1609 V 100. p. 557.
mos.
,
(7)
Altoona & Logan Valley Electric Railway.—Trolley.
ORGANIZATION.—Incorporated in Pennsylvania Aug. 5 1903.
the
Owns
entire
$65,000 stock of the Lakemont Park Co., also $58,000 of the
$59,000 stock of the Home Electric Light & Steam Heating Co. of Tyrone
(Into which the Blair Electric Co. Incorporated in 1908 to do a lighting busi¬
ness, having perpetual franchise and 10-year contract to light town of Bellwood, was merged In 1910-11) and leases that company for 99 years from
July 1 1903; $54,000 of this stock is deposited as additional security for
the consolidated mortgage.
In Aug. 1903 absorbed by consolidation the
City Passenger Ry. and the Tyrone Electric Ry. (previously owned) and
increased its capital sotck from $500,000 to $1,500,000.
V. 77. p. 1745.
In 1912 acquired the Logan Light & Pow. Co. of Tyrone, and operates same
In conjunction with the Home Elec. Lt. & Steam Htg. Co.
V. 94, p. 696.
The American Railways Co. owns entire stock Altoona & Logan Valley
Electric Ry. and $454,000 consolidated mortgage bonds.
In Aug
1920 was auth. to increase fares from 6 to 7 cents.
STOCK AND BONDS—
Date.
Stock $1,500,000 ($50)
Consol mtge $4,000,000 gold? 1903
Interest.
Outstanding.
$1,500,000
Last div..Ac.
See text
4HgF-Al5
3.807.000 Aug 15 1933
($500 and $1,000) guar by/Interest at Equitable Trust Co., PhlladelAmerican Rvs Co.. .c&r.tfl,
phia. Trustee.
Remaining $193,000 bonds are reserved for extensions.
These bonds are
guaranteed, p. & L, by endorsement by American Railways Co.
No sinking
fund and
not subject to call.
Dividends.—In 1896 paid 2H%; in
none: in
1900-01. 6H%; in
1896-97. 2^%; in 1897-98, 1898-99.
1901-02. 10%; in 1902-03, 10%; In
1903-04. 5*4%: in 1904-05. 5.7%; 1905-06. 6%; in 1906-07, 5%; in 1907-08.
15*%: In 1908-09 and 1909-10, none; in 1910-11,1 1-3%; in 1911-12, 1.43%.
In 1912-13, 2.5%; in 1913-14,
5%.
For 6 mos. ending Dec. 31 1914, 2.5%.
In 1915. 4.35%.
In 1916. 6%.
EARNINGS.—For 6 mos. ending June 30 1920, gross,
$565,819; net,
after taxes, $134,780 fixed charges, $93,656; bal.,
surp., $41,124.
ROAD.—Operates 54 miles of track, connecting Altoona, Belliwood,
HoIIidaysburg and Tyrone,
oauge. 5 ft. 3 in.
Operates 124'cars. 1
1899-00.
OFFICERS.—Pres.
Van Horn Ely; V.-Ps., H. J.
Crowley and C. L. S.
Tingley; Sec. & Treas., Walter W. Perkins; Gen. Mgr., S. S. Crane.—V. 79..
p
680; V. 80. p. 649, 710, 2456. 2619; V. 82, p. 333, 391, 803: V. 94. p. 69q.
Oct..
(8)
1920.]
ELECTRIC
Scranton Railway.—A trolley road.
practically all of the stock.
ORGANIZATION.—On Jan. 1 1897 assumed all the assets and liabilities
of the Scranton Traction Co., &c.
V. 63, p. 1064; V. 64, p. 85.
As at
present constituted, is a merger of 21 companies.
Operates, practically
without competition, in the Lackawanna Valley from Forest City, in Sus¬
quehanna County, to Plttston, In Luzerne County, serving, among others,
the cities of Scranton, Pittston and Carbondale, and the boroughs of Archbold, Blakely, Dickson City, Dunmore, Jermyn, Mayfield, Moosic, Old
Forge, Taylor, Throop, Vandiing, Avoca, Duryea, Forest City.
Franchises perpetual.
Increase.—In
Sept.
1918 filed
a
new
tariff with the Penn. P.
Comm. calling for an increase from 6 cents to 8 cents in all
p.
1005.
zones.
S.
V. 107.
On April 23 1919 the Penn. P. S. Comm. ordered the company to
reduce its fares to 7 cents, tickets to be sold at 4 for 25 cents.
See V. 110,
2293; V. Ill, p. 74.
In June 1920 the Penna. P. S. Comm. refused to
permit the operation of buses in competition with the co.'s lines.
V. 110,
p." 2488.
Valuation.—See V. Ill, p., 1662.
$200,000 Peoples St. Ry. 1st M. 6s, which matured Aug. 1 1918, were
paid off in cash.
The $1,000,000 gen. mtge. 5s, due Nov. 1 1920, were extended for 5 years
at 7% and in addition holders were paid $50 in cash prr $1,000 bond, thus,
netting the holder approximately 8% for the period of extension.
V. Ill
p. 1662.
STOCK AND BONDS—
Date.
\imeresi.
Outstanding.
Maturity
Stock ($50)
I
$2,000,000
Scranton Ry Ist&refM $15,-f
1917
5;F-A
2,500.000 Feb
11947
000.000 g ($1,000)
c*rtf\Int. at Merch. Un. Tr. Co.. Phila., trustee.
Scran Trac 1st M $1,000,000/ 1892
6 g M-N
1,000,000 Nov 1 1932
($1,000) gold no opt..c»tftint, at Merchants' Union Trust Co., Phila.
Scran Pass Ry 1st M($1,000)tf 1890
6 M-N
100,000 May 1 1920
People's St Ry gen mtge g._tf 1891
6 g J-D
100,000 Dec 1 1921
Scranton Ry mtge $2,500,000 J 1897
5 g J-J
1,100,000 Nov 11932
gold ($1,000)
c*tfiNew York Trust Co.. N. Y. City, Trustee
Scranton Ry gen mtge $1,-/ 1910
7 M-N
1,000,000 Nov 1 1925
000,000 gold ($l,000)-..tf jnt; a£ jgquitable'Trust Co., Phila., Trustee.
1893
6 g J-J
150,000
Jan 1 1923
Scranton & Carb'd 1st mtge
Lack.
SI,000,000 g ($l,000)_c*tf Int. at American Rys. Co,, Phila.
p.
T. & S.
Proe of State tax.
Scran
ft
Pitts M
D. Co., Scranton, Trustee.
6 g A-0
1893
$525,000 g
($1,000 and $500)--.c*ntf
295,500
Oct 1 1923
Nos. 1
Int. at Union Trust, Trustee, Phila.
to 400 $1.000 each ft Nos. 401 to 650,$500
Trust._
1892
6 g J-J
'
150,000 July 1 1922
1st M, Carbondale Traction
Co, c*ftr, $150,000, gold Interest at Central Trust Co., New York.
Xrust'66
($500 and $1,000)
5 J-J
800,000 Jan. 1 1933
Carbondale Ry gen mtge gold f 1910
$800,000 guar p ft i
ctflProvident Life & Trust Co., Phila., Trustee
Bonds.—Of tne $2,500,000 Scranton Ry. mortgage 5s of 1897, $1,400,000
are reserved to retire prior bonds
at maturity.
The Scranton & Pittston
bonds are guaranteed by the Scranton Ry.
8cranton Ry. gen. M. bonds
of 1910 are subject to call at any int. period at 102 and int.
Originally
matured Nov. 1 1920 and bore int. at 5% but were extended for 5 years
at 7%.
V. Ill, p. 1662. .
First mortgage of Carbondale Traction, due 1922, has a sinking fund of
$2,500 per annum after July 1 1895, but bonds cannot be called.
Carbon¬
dale Ry. mtge. for 1910 is unconditionally guar., p. & L, by the Scranton
Ry.
Subject to call on any int. date at 105 and Int.
V. 93, p. 1785.
The 1st ft ref. 5s of 1917 are callable after 1922 at 102 34 and Int.
Guar.,
p. ft L, by endorsement, by Amer. Rys. Co.
$4,896,000 are reserved for
underlying bonds and $7,604,000 for impts. under guarded restrictions
V. 104. p.1703.
Dividends.—Since 1906 paid dividends varying from $125,000, the mini¬
mum, to $263,000, the latter amount in 1914; $175,000 was paid
in 1915
and $195,000 in 1916.
ROAD.—Owns and operates all the street roads in and around city of
Scranton. aggregating 90 miles.
Operates 206 cars.
EARNINGS.—For 6 mos. ending June 30 1920, gross, $926,181; net,
after taxes, $163,896; fixed charges, $204,878; bal., def., $40,982.
OFFICERS.—Pres., Van Horn Ely; V.-Ps., Henry J. Crowley and C. L.
S. Tingley; Sec. & Treas., Walter W. Perkins; Gen. Mgr., W. E. Boileau.—
V. 109, p- 982, 2263; V. 110, p. 2293, 2488. V. Ill, p. 74, 295, 1662.
Guar, by Scranton
& Light Co.—Trolley.
acquired control.
V. 90. p 167, 235.
ORGANIZATION.—Incorporated in_Virglnla, and Is a consolidation on
May 1 1901 of the Lynchburg
(9)
In
Lynchburg Traction
1910 American Railways
Rivermont Street
Railway
Co., and comprises all the
plants of Lynchburg and hydraulic power development at Reusens, Va.:
also owns all the stock of the Lynchburg Water Power Co., and has assumed
the $500,000 1st mtge. 5% bonds of that company.
American Railways owns entire capital stock, $704,000 of Lynchburg
Trac. & Lt. consol. mtge. bonds, and $2,000 1st M. bonds.
Fares.—In June 1918 was auth. by the Va. Corporation Commission to
discontinue the sale of 6 tickets for 25 cts. and 16 school tickets for 50 cts.,
and to establish a straight 5-cent fare.
Rate Increases.—In June 1918 announced an increase in its gas rate from
.
.
_
$1 10 to $1 30 per 1,000 cu. ft. with a refund of
ment.
Electric power rates were also advanced.
STOCK AND BONDS—
Date.
Interest.
Stock. $1,000,000 ($50)
J-D
10 cents for prompt pay¬
V. 106. p. 2757.
Outstanding.
Maturity.
$750,000
See text
w
$1,000,000 sink fd] 1901
5 g M-N
788,000 May 1 1931
c*ntf 1 Real Estate Trust Co., Philadelphia, Trustee
Lynchb Trac & Lt con mtgei 1911
5%
720,000
1931
$1.750.000
ntf (Real Est. Title Ins. ft Tr. Co., Phila., Trust.
Lynchburg Gas Co first mort-f 1900
5 M-S
111,000
1930
gage $250,000
---tf lint, at Real Estate Trust Co., Phila., Trust.
Lynchburg Water Power first) 1902
5
452,000 July 1 1932
mortgage $500,000
ntf (Real Estate Trust Co., Philadelphia, Trustee
Bonds.—Of the 1st mtge. bonds, $111,000 are reserved to retire bonds of
like amount of Lynchburg Gas Co. due 1930. and of which no more are to be
Issued.
Sinking fund of 1% per annum became operative in 1906, which
was increased in 1916 to 1 14 %.
Entire issue can be called at any time.
First mtge
($1,000) gold
Dividends
n
1907, 3%;
%EARNINGS.—For
6 mos". "ending June 30 1920, gross, $444,483;
net,
$160,442; fixed charges, $69,260: bal., surp. $91,182and operates 18 miles of track in city and suburbs
60 to 100-lb. T and girder rails.
Standard gauge. Operates 39 pass, cars;
3 other; 1 sweeper.
Owns Rivermont Park.
OFFICERS.—Pres., Van Horn Ely; V.-Ps., C. L. S. Tingley and H. J.
Crowley; Sec. ft Treas., Walter W. Perkins.—V. 106, p. 2450, 2757.
after taxes,
ROAD.—Owns
(10) Roanoke Traction & Light Co.—A holding company.
ORGANIZATION.—Incorporated in Virginia July 28 1908.
Owns the
Bedford Power Co., the James River Water
Power Co. and the Roanoke Heat, Light ft Power Co., and controls, through
ownership of all the capital stock, the Roanoke Railway & Electric Co.
The
Roanoke Water Power Co. had $350,000 bonds which were bought in and
mortgage satisfied.
The Roanoke Heat, Light ft Power- Co. had issued
$250,000 bonds, all of which have been retired (V. 87. p. 1089, 1160).
The Amer. Rys. Co. owns $975,000 of the $1,000,000 stock.
'
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Stock, $2,000,000 ($100)
$1,000,000
1908
5 g F-A
1,751.000 Aug 11958
First mortgage and collateral
trust
$3,000,000 ($1,000) Int. at Bioren & Co., Phila., or Baltimore
Roanoke Water Power Co., the
c*ntf
gold__
Trust
Co.. Baltimore, Trust
retire a like amount of bonds of
Ry. & Elec. Co. The remaining $460,000 are reserved for ad¬
ditions and extensions at not exceeding 85% of cost. Bonds are subject to
call on any int. day at 105 and int. Sinking fund of 1% of outstanding
bonds, payable Feb. 1 1919 to 1928; 1 34% thereafter.—V. Ill, p. 190Bonds.—$750,000 bonds are reserved to
the Roanoke
Railway & Electric Co.—
ORGANIZATION.—The Roanoke Street Ry. and the Roanok. K..ccwc
Light ft Power were both sold at foreclosure Aug. 1 1899.
The pre-Mant
(a) Roanoke
incorporated in Virginia. Franchises expire in 1935 and some
Does all lighting and railway business In and about Roanoke.
company was
perpetual.
Salem and
Vinton. Owns 250 shares of
STOCK AND BONDS—
Date.
Stock, $500,000 (SI00)
mortgage, $300,000, g/ 1899
($1,000) sinking fund _„ntf lint. at
First consolidated mortgage,/ 1903
$750,000 ($1.000) g s f.c*tf lint, at
First
are reserved to retire 1st mtge. bond a
of outstanding bonds annually payable Feb. 1
Bonds.—Sufficient consol. bonds
American Railways owns
Fare
103
RAILWAYS
Roanoke Trac. & Light Co. stock.
Interest.
Outstanding.
Maturity.
J-D
$500,000
See text
5 g J-D
58,000 Dec. 1 1949
Mercantile Tr. 8c Dep. Co., Bait., Tr,
5 g F-A
627,000 Feb. 1 1953
Real Estate Trust Co.. Phila., Trustee
Sinking Fund was 1%
1920, now 134%.
Dividends.—In 1904. 334%: In 1905. 534%; in 1906, 8%; in 1907. 6%
none to 1910, when 3% was paid; in 1911. 5 3-5%; in 1912, 6.7%: in 1913
6.12%; in 1914. 12.02%; in 1915, 7.4%; fn 1916, h%.
mos. endipg June 30 1920, gross, $587,836:
fixed charges, $41,076; bal., surp., $177,596-
EARNINGS.—For 6
after taxes, $218,672;
net,
ROAD.—Operates in Roanoke; also extensions to Salem and Vinton,
Va.; total, 29.85 miles of track.
About 41 passenger cars, 4 other cars.
60 and 72-lb. rail.
Also owns park and theatre.—V. 90, p. 168.
50,
Ohio Valley Electric Railway Co.—A trolley road.
acquired by the American Railways.—V. 92, p. 1437; V.
(11)
In 1911
93,p,470.
ORGANIZATION.—Incorporated in West Virginia in 1899.
Franchises
run until 1957 in W. Va.; in Ky. and Ohio in Dec. 1916 ran for nearly the
full term allowed by statute, 20 and 25 years, respectively.
In Feb¬
ruary 1908 name was changed from Camden Inter-State Railway to the
Ohio
Valley Electric Railway.
Owned entire stocks of Consolidated
Light, Heat & Power Co., Ashland Elec. Lt. & Pow. Co. (now Boyd
County Electric Co.) and Ironton Elec. Co., but at time of acquisition
by Amer. Rys. these were turned over to latter company.
On May 1 1908
acquired the $500,000 stock of Kanawha Valley Traction Co., which haa
been leased to the Charleston (W. Va.) Interurban RR. (see page 25) for
99 years at a rental beginning with $i0,000 per annum in 1910 and increasing
to $20,000 in 1916 and thereafter until the expiration of the lease.
Also
owns entire stocks of the Ashland ft Catlettsburg St. Ry. and Ashland In¬
Ry.
terurban
Ordinance
Restricting'Operation of Jitneys.—V. 108, p. 2123.
13 1920 the City Council of Ironton passed a
franchise, over the Mayor's veto, auth. the co. to raise fares in that
city to 6 cents.
V. Ill, p. 1084.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Matursy.
Common $2,000,000 ($100)
$2,000,000
See text
Pref 6% cum $400,000 ($100)
J-J
345,800
See text
1st M $2,200,000 gold guar] 1916
5 g J-D
1,675.000 Dec 1 1946
($1,000)
c*tf I Penn. Co. for Ins. on L. & G. A.. Phil..trust.
Bonds.—The outstanding bonds were Issued to take up $1,350,000 Cam¬
den Inter-State Ry. 5s due Mar. 1 1921; $175,000 Hunt. ft Charleston 5s
due 1936; $100,000 Cons. Lt. & Rys. 6s due 1922, and $50,000 Ashland ft
Catlettsburg 6s due 1919.
Remaining $525,000 are for exts. and better¬
ments under restrictions.
Red. after Dec. 1 1921 at 102 34 and Int.
Penn.
State tax refunded.
Guar., p. & L, by end. by Am. Rys. Co.
V. 103. p.
Fare Increase.—On Aug.
new
2342.
diva. (J-J.) of 3% were paid on pref. from
On common, 1910, 3% ; 1911, 2% ; 1912, 6% ; in 1913
in 1914, 2.9% ; in 1915, 4% ; in 1916, 6% .
Dividends.—Semi-annual
1908 to 1917, incl.
3.9%
;
EARNINGS.—For 6 mos. ending June 30
after taxes, $112,969;
ROAD.—Operates
W.
Kenova,
Va.,
1920, gross, $414,049;
fixed charges, $52,974;
neti
bal., surp., $59,995-
46.3 miles of track In and between Huntington and
Ashland, Ky., and ironton. Ohio.
cars.—V. Ill, p. 693, 1084.
Catlettsburg and
Operates 56 pass, cars, 17 other
Electric Co. of New Jersey.
ORGANIZATION.—A merger July 5 1916 of a number of electric light
cos. in Gloucester, Salem and Cumberland counties, N. J., along the Dela¬
ware River opposite Wilmington, Del., and Chester, Pa.
Supplies electric
current for electric light and power In municipalities of Salem, Pennsgrove,
Woodstown, Mullica Hill, Pitman, Glassboro, Williamstown, Paulsboro
Clementon, Laurel Springs, Berlin, Elmer, Clayton, Qulnton, Swedesboro.
(12)
Pedrlcktown,
Harrisonville, Mickleton. Clarkesboro, WeNorris and many other smaller places.
The Ameri¬
outstanding stock and bonds.
Pennsville,
nonah, Bridgeton, Port
can
Rys. Co. owns the entire
Date.
Interest.
Outstanding.
Maturity.
$475,000
$157,500
$5,000,000 gold] 1917
5 g M-S
319,000 Mar 1 1947
($1,000)
c*&rtf|Int. at Comm'l Trust Co., Phila., trustee.
Bonds.—$250,000 are reserved to retire bonds of Bridgeton Elec. Co.,
remainder for exts., add'ns, See.,Red. after 1922 at 10234-—V. 103, p.
STOCK AND BONDS—
Stock
Flrit
mtge
104. p. 1390. 1493.
937; V.
WILMINGTON & PHILADELPHIA TRACTION CO.
On Jan. 1 1916 control was acquired by the American Rys. Co., control
of which was in turn taken over by the National Properties Co.
See those
companies above.
ORGANIZATION.—Incorp. In Dela. June 27 1910.
Owns all stock of
Chester & Eddystone St. Ry. and Wilm. Lt. ft
On June 1 1915 acquired control of People's Ry. of Wilmington.
Southern Penn. Trac. Co.,
Pow. Co.
$1,500,000), and In Oct. 1915 purchased the Wilmington
Wilm. New Castle & Delaware City Ry., and
them under the name of the latter.
(Stock. $600,000).
Leases for 990 years from July 1 1910 the Wilm. City Ry.. Wilm. & Edgemoor Elec. Ry., Gordon
Heights Ry., Front ft Union St. Ry. and Wilm.
City Elec. and New Castle County Elec. Co. at a minimum annual renta
of $79,010. to a maximum of $120,610 In 15 years.
Fare Increase.—On June 5 1918 was auth. to increase fares from 5 to
the fare was reduced to 6 cents.
Effective Aug. 17 1920 was auth. to rai s
fares to 8 cents cash with 4 tickets for 30 cents.
V. Ill, p. 897.
STOCK AND BONDS—
. Date.
Interest.
Outstanding.
Maturity.
Common stock
$4,060,000
Preferred stock
500,000
People's Ry 1st M $3,000,000/ 1915
5 g J-D
1,650,000 June 1 1965
gold ($1,000) guar
c*llnt. at Fidelity Trust Co., Phila., Trustee
J
•*>
!9,5
5 g A-O
143.000 Oct
1 1965
Wilm. So. Trac. 1st M gold]
Del.
(st-ock,
Southern Trac. Co. and the
consolidated
-—
-
-
-
--
-
$300,000 ($1,000) guar.— Int. at Wilmington (Del.) Trust Co., trustee
1915
5 g J-J
None
Jan
1 1966
W N C ft D O 1st M $2,000000 g ($1,000) guar._cHflint, at Falrm. Sav. Tr. Co., Phila., trustee
Chester ft Eddystone 1st MJ 1916
5 g M-S
53,000 Sept 1 1946
gold $100,000 ($1,000) gullnt. at Phila. Trust Co., Phila.. trustee.
Bonds.—All four Issues are guar. p. ft 1 by the Wilm. ft Phila. Trac. Co.
Remaining People's Ry. and Wilm. So. Trac. bonds reserved for Impts. at
85% of cost.
People's Ry. bonds are red. on any Int. date at 105.
$300,000 Wilm. N. C. ft C. D. bonds are reserved for the Wilm. So. Trac. oonds;
remainder may be Issued for exts. and impts. at 85% of cost.
Red. ac 102
on any Int. day .
,
ROAD,
&c.—Comprises street railway lines in Wilmington, New Castle
City, Del., and Chester and Media, Pa., and interurban lines
and Delaware
connecting these places with each other and with Philadelphia, a
140
miles of track,
Also does electric light and power business
total of
in Wil¬
mington, New Castle, Delaware City, Newark andf vicinity in Delaware,
the southeastern part of Delaware County. Pa., and Elkton. Chesapeake
City
and
In Maryland.
vicinity,
EARNINGS.—Including Southern Pennsylvania Traction Co.;
Gross Earns.
Net Earns.
Chgs.
Tax. Bal.,Surp.
$120,335
1919
$4,279,237
$1,372,553 $1,252,218
974,836
31.967
1918
3,637,506
1,006.803
Cal. Year—
-
.
OFFICERS.—Pres., Van Horn Ely, Phila.;
T. W.
Wilson, Wilmington; Sec
ft Treas.. C
And., C. E. Yost,
Vlce-Pres. ft Gen. Mgr.,
N.
Ryan,
Wilmington;
Wilmington.—V. Ill, p. 897, 1185, 1371.
(1) Wilmington
& Chester Traction.
United Power ft Trans. Co. owns 39.995 out
of 40,000 shares of stock.
of this company's lines are leased to the Wilmington ft
Co. and part to the Southern Pennsylvania Trac.
Those In
Delaware, viz.. Wilm. City Ry., Gordon Heights Ry., Front ft Union St.
Lease.—Part
Phila. Trac.
Ry. and Wilm. ft Edgem.
El. Ry. are leased to Wilm. ft Phila. Trac. (see
and Its subsidiaries are leased
above): those In Penn., viz., Chester Trac. Co.
to Southern Penn
Trac Co
(see below).
ORGANIZATION.—Incorporated
March
1898.
Has acquired
all
of the Wilmington City Ry. ($519,930), the Gordon Heights
the stock
Ry. ($51,500), the Front & Union Street Ry. ($299,930) and the Chester
Traction Co. ($500,000), all of Which are deposited under the collateral
trust mortgages of the Wilmington ft Chester Traction Co.
Owns $50,000
■took of the Chester ft Delaware Street Ry.; also owos $150,000 debenture
bonds of Front & Union St. Ry. and $45,000 1st M. bonds of Gordon Heiga
Railway.
The Chester Traction Company holds all the stock of the
Union Kallway Company, $10b ,000: Chester & Media stock. $35,000: Ches¬
ter Darby ft Phila. stock, 885.000; total, $200,000.
The Chester Trac. pays
M rental (besides int. on bonds) 6% on the $100,000 stock of the Chester ft
Media and on the $100,000 stock or the Chester Darby ft Philadelphia.
Fare Increase.—In June 1918 was auth. by the Del. P. U. Comm. to
charge a 7-cent fare In Wilmington, 4 tickets to be sold for 25 cents.
104
ELECTRIC RAILWAYS
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
pdL Listed on Pblla. Ex $2,000,000 Dec'12,60cts
gold
$4,000,000/ 1898
6 g A-O
2.305,000 April 1 1923
$1,000 each) cHl Provident Life & Trust Co.. Phlla., Trustee
bilateral
trust
gold
$5,-/ 1912
5%
536,625 April 1 1952
500,000
tf I Wilmington Trust Co., Wilmington. Trustee.
Securities
of Subsidiary Lines—
Wlim City 1st M $600.0001 1911
5 M-8
600.000 Sept 1 1951
(Sl.OOOf
C.ntfllnt. at Eg. Guar. 8c Tr. Co., Wllm., trustee
Chester Traction
1st
mtge
1894
5 g M-N
250.000 May 1 1944
gold
$250,000
c*tf lint, at Guar. Tr. 8c Safe Dep. Co., Pblla.
WHming & Edgemoor 1st M l 1906
5g J-D
400.000 June 1 1946
$400,000 ($1,000) g__c# tf i int. at RearEstate Title Ins. & Tr.. Phila.,Tr
other valuable franchises for new lines.
In April 1906, however, an agree¬
ment was entered into with the city relinquishing nearly all the rights to the
Itock 12.000.000 ($50) full
Toll
trust
1500 and
-
Leased
Chester
to
Traction—
1913
5 g J-J
1913
1913
10
J-J
5 g J-J
5 g J-J
.
200,000
150,000
100,000
125.000
Jan
1
rental
1943
10%
July 1
July 1
1943
1943
The Wilmington & Edgemoor bonds are guar, as to both
principal and
Interest by the Wilmington City Ry.
Interest on Union Ry., Chester Street Ry., Chester 8c Media
payable
County Trust Co.. Chester, Pa., on Chester Darby & Phlla.
By. Co., payable at Continental-Eoultable Title & Trust Co., and Interest
upon all the latter guaranteed by Chester Traction Co.
Bonds.—$1,695,000 coll. tr. 5s of 1898 reserved to retire underlying securi¬
ties and guar, stock.
Tbey matured originally In April 191© and bore Int.
at 5%, but were extendeu for 5 years at 6%.
Red. at 101 and int. on any
int. aate.
Are listed on the Phila. Stock Exch.
V. 106, p. 1902, 2012.
at Delaware
Of the coll. tr. of 1912, $4,000,000 are reserved for like ami. of coll. tr. of
1898.
Wllm. City bonds are subj. to call at 105 and int.
V. 93, p. 667.
The Chester Trac. bonds were extended In 1914 for 30 years.
V. 98.
p.
1073, 1158.—V. 98, p. 1074; V. 106,
1902, 2012, 2451.
p.
(2) Wilmington City Electric Co.
Lease.— Was leased on July 1 1910 for 990 yrs. to the Wllm. & Phlla.
Trac. Co., the latter assuming all int. & fixed charges of Wllm.
City Elec.Co.
ORGANIZATION.—Incorp. in Delaware in 1895. Franchise perpetual.
Does an electric light and power business in Wilmington.
198
STOCK AND BONDS—
Date.
Stock
First mtge $1,000,000
gold/ 1911
Interest.
Outstanding.
Maturity.
$255,000
5 M-N
1,000,000 May 1 1951
($1.000) guar p & i___c* tf [Int. at U. S. Mtge. & Tr. Co.. N. Y.. Trustee
Bonds are redeemable on and after May 1 1921.
Guar., p. & I., by Wil. 8c
Phila. Trac.
V. 92. p. 1441.—V. 94, p. 567.
(3)
Southern
Pennsylvania
Traction
Co.
ORGANIZATION.—Incorporated in Penn. in June 1910 with $10,000
stock, all owned by Wllm. & Phlla. Trac. Co.
Leases for 990 years from
July 1 1910 Chester Trac. Co., Delaware County & Phlla. Klec. Ry. and
Media Glen Riddle & Rockd. E. St. Ry. Co. at a minimum annual
rental
Of $71.990 to
a
maximum of $106,990 In 15 years.
V. 98. p. 1073, 1158.
(a) Delaware County & Philadelphia Electric Ry.
\
Lease.—On July 1 1910 leased for yyo years to Southern
Pennsylvania
Traction Co. at a rental of $40,000 per annum.
19
franchises of 1901 and 1903 and the whole matter of the company's fran¬
chise rights was readjusted on a new basis.
See V. 82, p. 693. 870.
Subway has been built In Market St. from 23d St. to Delaware Ave.,
elevated structure on Market St. west of the Schuylkill River, and on Dela¬
ware Ave. from Market St. to South St.
V. 74, p. 528, 989; V. 76, p. 1301;
-
Onion Ry Co 1st mtge g.c.tf
Chester St Ry stock ($50)
.tf
Chester & Media El Ry gold tf
Chester Darby & Phila, gold tf
V. 81, p. 265.
In March 1907 began operating on that portion of the ele¬
vated from the Schuylkill River west to the Upper Darby terminal station,
distance of about 4 miles.
V. 84. p. 571.
On Aug. 3 1908 the entire
a
•ubway from 2d St. to 23rd and Market St.
completing line through to 69th St.
V. 87,
vated line
dividends
in
911. $21,000; in 1912. July, $16,000;
127,000; 1901 to 1908 incl.. $21,000 per
ROAD.—Owns 12 miles of track.
1899-1900,
$36,000;
In
On
Date.
Maturity.
7%
Year—
1919—
Gross.
Net.
$176,585
$53,496
128,980
27,011
Charges,Ac.
$29,345
41,410
Balance.
sur.$24,151
def. 14,399
RUAD, &c.—Operates an electric line in Fairmount Park,
Philadelphia,
together with the Woodside Real Estate Co. (capital stock
$100,000), which
owns
Woodside Park.
The license from the Park Commission
expires
July 24 1939.
Operation from Nov. 30 to May 1 is optional.
Miles of
brack operated, 8.83.
Gauge, 5 ft. 2X, in.
Rails, 90 lb T.
Cars, 9 closed.
50 open.
OFFICERS.—Pres., N. S. Alexander; Sec.
V.
107, p. 1670.
& Treas., Clayton E. Piatt.
ORGANIZATION.—Chartered in Pennsylvania on April 24 1895.
Mu¬
nicipal franchises are perpetual.
In 1898 acquired control of the Phlla. 8c
West Chester Turnpike Road Co., which in turn
controlled the Delaware
County Passenger RR.
Also controls the Phlla. Castle Rock 8c West
Ches¬
ter Passenger Ry. Co.
In Jan. 1902 leased the Ardmore & Llanerch
St.
By., a line between the points named. 3 1-4 miles; It has no bonds or
other
debt.
Rental Is 5% on the
outstanding stock (.$400,000 auth., $383,350
outstanding) and payment of taxes and organization
expenses.
Leases
the Philadelphia & Uarrettford St.
Ry. (which it also controls) at 5% on
funded debt and $500 per annum for
salaries and organization expenses.
In Jan. 1912 increased authorized stock
from $1,000,000 to $1,400,000.
Fares.—In Jan. 1919 the co. announced an
increase in fares from 5 cents
to 6 cents on each "fare limit."
V.
Interest.
Outstanding. Last die.,Ac
$1,303,700
Apr'20,3%
** •000-000
gold/ 1904
4 g J J
534.000 Jan
11954
(f1-M9) ---------- —CHfjlDt. at West End Tr. Co.. Phlla., Trustee.
PhiTa 8c Gar 1st M
$3,000,000/ 1905
5 g F-A
3.189.000 Aug 1 1956
gold
($1
.000)
A-O
int. at West End Trust Co.. Phila..
Trustee.
Bonds.— Can be called at
any time at 105 and Int.; no sink. fd.
The re¬
maining Phlla. & Gar
bonds are reserved for future
requirements; red.
at 105 & int. on any int
day.
ctf
■
REPORT.—Year ending Dec. 31:
Dec. 3D
.„Zfar~
1918
°
Gross
Net
Other
%ir.nJy3;
Earnings.
Iname.
^
$818,794
630,392
$274,344
234,440
$10,829
11,326
Interest,
Rentals. Ac.
$212,935
209,428
-
Surplus
for Year
$72,238
36,338
--Operates 50 56 miles of crack from 63d and Market
streets
Philadelphia, to West Chester, 26.107 m.; Llanerch to
Ardmore, 6.375 m.:
69th St., Upper Darby, Pa., to Sharon Hill
and Media, 18.077 m.. of
which 24.45 m. are leased.
Gauge, 5 ft. 2M in.; 58. 60, 70 and 80-lb.
T rail.
53
cars.
to
discontinue
the
Insur¬
authorized the mtge.
V. 94. p. 631.
As part of the plan, certain
equity owned by Phila. Rapid Trans. Co. was surrendered to Union Trac.
See V. 91, p.
1161. 1386. 1574, 1630, 1711.
The City Council
assented to the arrangement in May 1911.
V. 92, p. 1375, 1500
Co.
Subway and Elevated Lines to Be Built by the City and Operated by the
Company.—At an election held April 29 1915 the electors voted in favor
of
a
line
$6,000,000 loan for a Broad Street subway and a Frankford elevated
(V. 100, p. 1511), and on July 1 1915 the ordinances making equal
appropriations
for both projects were signed by Mayor Blankenburg.
begun September 11 1915.
V. 101. p
132. 774, 1371.
on May 16 1916 it was voted to Issue
$57,100,000 bonds
for additional subway and elevated
lines, In accordance with the pro¬
gram of former City Director of Traasit A. Merritt Taylor, as outlined
in V. 102, p. 2342.
The Stern bill, rendering valid the election of May 16
1916, was passed by the Penn. House of Representatives in April
1917.
V. 104, p. 1703.
On July 7 1917 the taxpayer's suit to restrain the city
from proceeding with construction of the new high
speed lines was dismissed
by Common Pleas Court No. 4.
On July 23 1917 the Pennsylvania P. S.
Comm. granted the Philadelphia city authorities
permission to construct
all of the lines contemplated in said
program.
[The cost of the amplified
system, based on structural steel ana labor costs current In the early
part
of 1917.
Is estimated at approximately $100,000,000 ]
In June 1918
Govt, sanction to proceed with the construction of the Frankford elevated
Construction
At
the
was
election
system was given with the understanding that the work In connection with
the
Broad St. subway (with certain exceptions) be
stopped as promptly
possible.
V". 106, p. 2451.
The elevated tq Frankford was expected
ready for operation before the close of 1920.
V. 109, p. 888.
Lease Rejected.—On Jan. 15 1919 the Penna. P. S. Comm.
unanimously
rejected the City Transit lease which provided for the joint operation of the
municipal lines and those operated by the co.
The Comm.'s reasons for
rejecting this lease will be found in V. 108, p. 379.
The lease had been
approved by the stockholders and the Mayor.
For provisions of rejected
lease see this Section for Sept. 1918.
Plans for a new lease embodying
suggestions made by the Comm. are now under way.
See V. 109, p. 1892.
Compare V. 105, p. 819, 2366; V. 106, p. 86.
as
Power Contract.—In March 1912 entered into a
10-year contract with the
Phila. Electric Co. for additional
power.
V. 94. p. 768
Votino Trust.—The voting trust, established in Feb. 1911 for
5 years was
extended in 1916 for a further period of 5 years to Feb. 20 1921.
On Feb. 12
.
1920,
longer
p.
however, it having been determined that the voting trust
necessary, it was resolved to terminate same
465., V. 92.
523,
1347.
on
p. 660 , 726 , 882, 1243. 1500; V. 95,
was
no
that date.
p.
V. 110,
1608; V. 102. p.
New Line.—In Sept.
Interest of the Phila.
of line
1911 the Snyder Ave. St. Ry. was chartered in the
Rap. Tran., with $140,000 stock, to operate 7.66 mile*
Line was placed In operation Jan. 1912.
Snyder Ave.
on
Hog Island Extension.—On Aug 4 1918, in accordance with a contract with
Emergency Fleet Corp., the co. placed in operation an extension from
Ave.
to
the
Hog Islana Shipyard.
The Fleet Corporation
the
Eastwick
advanced the funds to the company to cover the cost of the new
construc¬
equipment [100 new carsf.
This property will be taken over by
tion and
the P. R. T. Co. at the appraised value for
operation.
fixed by the P. S. Comm.
Fares.charged
are
V. 106, p. 1345, 2758.
Excise Tax.—On Aug
2 1915 Judge Dickinson In-the U. S. Dist. Court
held that the company's subsidiaries
operated under lease were not carrying
on business within the
meaning of the excise tax law of 1909 and
were
not
liable to the tax.
On
therefore
Oct. 22 1917 the Market Street Elevated
Pass. Ry., the Union Traction Co, and the
Philadelphia Traction Co ap¬
pealed to the U. S. Dist. Court for restitution of $73,768 and interest col¬
lected from them In the years 1911 and 1912
Income Tax Litigation.—On July 15 1918 the various
leased line cos. filed
suits against the Phila. Rap. Tran. Co. to recover
Income and excess profits
paid by them under protest.
V. 107, p. 402.
taxes
OFFICERS.—Pres., A. Merrltt Taylor, Phlla.; V.-P., H. H.
Treas.. C. L. Rihl.
Office. UDDer Darby, Del. Co.. Pa.
V. 94
V. 98. p 237; V. 106. p. 397; V. 107,
p. 1193; V.
PHILADELPHIA
voted
Phila. Rap. Trans, board, calling for the Issue of $10,000,000 s. f. bonds
running for life of city contract, guar.
p. & 1. by the Union Trac. Co. and
secured by pledge of equity In Market St. Elev. Pass. Ry. (V. 91, p. 1629)
over and above present $10,000,000
mtge. on said property.
V. 92, p. 596.
On Feb. 29 1912 directors of both the Phila.
Rap. Trans, and Union Trac.
108, p. 80.
Date.
stockholders
to be
PHILADELPHIA & WEST CHESTER TRACTION CO.
STOCK AND BONDS—
Stock $1,400,000 (par $50)
the
Co.
$400,000
80,000
1912
5 A-O
750,000 April 1 1937
($1,000)
c*ntflGirard Trust Co., Philadelphia, Trustee.
Bonds.—1st mtge. bonds are callable at 105 and Int. on
any Int. day on
60 days' notice.
Cum. sinking
fund, $13,000 per annum, began Oct.
1918. bonds to draw interest for the fund.
V. 95, p. 480.
REPORT.—For 12 mos. end. Dec. 31:
Stock preferred ($10)
First mortgage $750,000 goldl
1910
p. 337.
On Feb. 28 1911 shareholders of both the Phlla. Rap. Trans. Co. and the
Union Trac. Co. approved a plan (V. 92. p. 463) In accordance with the views
of Mr. E. T. Stotesbury, who consented on such conditions to enter the
ami.;since.
in 1909 and 1910, none; in
Outstanding.
20
000. taking lease of same for 10 years at rental of $150,000 a year and int.,
with right to re-purchase equipment at the end of 10
years for $1.
This
lease was made basis of a $1,500,000 issue of car trusts by Union Trac. Co.
V. 90. p. 1426, 1555, 1677. V. 91,
none
Ralls, 80-lb. T and girder,
Interest.
June
fund valued at over $1,750,000, and to pledge or sell the securities In
said fund,
applying the proceeds to general purposes of the company; also
to sell the rolling stock of the company to the Union Trac. Co. for
$1,500.ance
1900-01,
FAIRMOUNT PARK TRANSIT CO.
ORGANIZATION.—Incorp. in Delaware In Sept. 1916 as successor to
the Fairmount Park Transportation Co. in accordance with
plan of reor¬
ganization outlined in this publication of Sept. 29 1918.
The assets of the
old co. (for history see "Elec. Ry. Section" for
Sept. 1918) were purchased
subject to $750,000 1st M. 5s (see below).
STOCKS AND BONDS—
Stock common ($10)
p.
'
May
11
1892.
Completed from
Media, Pa., to Baltimore Av.. Clifton li te, In Jan. 1895; connects with
the Chestnut & Walnut Street cars of tne Union Trac.
system.
In May the
United Power 8c 1 ransportatlon Co. acquired the road,
paying $166.66 per
•hare for the stock In Its 4 % trust certificates secured by a
deposit of stock.
STOCK AND BONDS—
'Date.
Interest.
Outstanding
Maturity.
Stock $500,000authorized
$300,000
See text
First mortgage $64,000-.ntf/ 1913
5 J-J
64,000 July 1 1943
lint, at Cont.-Kqult. Title 6c Tr. Co., Phila.
1st M bonds matured July 1 1913, but were extended for 30
years at 5%.
in
placed in operation, thus
347.
On Oct. 6 1908 ele¬
was placed In operation,
was
Delaware Ave. to South St. Station
entire line.
V. 87, p. 936.
on
completing
In July 1902 acquired all the stock of the Doylestown & Willow Grove
Ry. Co.
Also owns entire stock ($10,000) of the Motor Real Estate Co.,
! which owns
property of an assessed value of approx. $1,500,000.
On July 11906 the Phlla. Morton 8c Swarthmore Ry. and tne Media Mlddletown Aston 8c Chester Elec. Ry. were consolidated, forming the Darby
i
Media & Chester Ry.
The new company, embracing 25 miles of track, was
| thereupon leased to the Pblla. Rapid Transit Co. for 999 years, rental being
$8,500 for first year, $17,000 for second and third years, $25,500 for fourth
year. $34,000 for fifth year and $42,500 for sixth year and thereafter.
Adjustment of Relations With City.—On Feb. 18 1907 the board of direc¬
tors accepted the
plan submitted Jan. 1907 by the Retail Merchants* Asso¬
ciation or Philadelphia for a readjustment of the relations between the city
and company.
The plan confers upon the city the right to purchase at any
time after June 30 1957 all leases, franchises and property of the company
> at the
company's actually paid-in capita), $30,000,000.
The city has
the right to assign or sell this option.
Furthermore, a sinking fund Is to be
established, to be taken out of the gross receipts of the company.which,
calculated at 4%. will amount to at least $30.u00.000 at the expiration of
50 years, to enable the city to acquire the property at that time.
Another
feature In the arrangement Is that, beginning with Jan. 1 1907. the city
•hares equally In the net profits after stockholders have received lawful
interest on the capital invested by them.
All franchises for further surface,
elevated or underground railroads within the city are to be first offered the
Phlla. Rapid Transit Co. under terms of this contract.
The city Is also to
have three members on the board of directors
The present rateof fareia
not to be changed
except with the consent of both parties.
As part of the
arrangement, the Rapid Transit Co. agreed to call the $12,000,000 then still
due on its stock at the rate of $3,000,000 every six months, the money to be
used to give Increased and Improved service.
For further details of plan,
see V. 84. p. 451.1552.
An ordinance embodying the above features was
passed by the Phlla. City Council on June 20 1907 (V. 84. p. 1488) and rati¬
fied by the company July 18 1907.
On Feb. 27 1911 State Supreme Court
affirmed the decision (V. 89, p. 847) of the Common Pleas Court sustaining
the company's demurrer in a suit brought to test the
validity of the fore¬
going ordinance.
V. 92. p. 596.
On July 29 1907 directors called for pay¬
ment of the final assessment of $15 a share on stock,
payable in two install¬
ments—$7 50 Sept. 9 1907 and $7 50 Sept. 7 1908.
V 85, p. 284. 1402.
ORGANIZATION.—Incorporated
D1VIDKNDS.—Paid
[Vol. 111.
Alkens
p
352-
108, p. 80.
RAPID
TRANSIT
—
Incorporated in Pennsylvania on May 1* 1902 to take over
under lease the
Union Traction Co. for 999 years from
July 1 1902. and to acquire and hold
•hares of other corporations.
(For terms of lease, see Union Traction be¬
low.)
The Rapid Transit Co. acquired numerous franchises for new
roads
obtained by the Mack-Foerderer syndicate in 1901.
In June 1903 the Mar¬
ket St. Elev. Pass. Ry.. with $5,600,000 authorized!
capital stock was
formed to absorb a number of these franchises.
V. 76. p. 1301.
In June
1903 the Rapid Transit Co. obtained from the
Philadelphia
City Council®
Compare V. 106.
2451.
On
Nov.
20
1918 a ruling was handed down by Common
Pleas Court No. 3 (and in Feb. 1919 affirmed
by the Pennsylvania Supreme
Court) under which the Phila. Rapid Transit Co. is held
responsible under
the terms of the several leases for the
payment to the Govt, of the Incomeexcess profits taxes of the
following leased line corporations: Philadelphia
Trac.Co..Germantown Pass. Ry. Co., 13th & 15th Streets Pass.
Ry. Co,
Philadelphia City Pass. Ry. Co.. Union Trac. Co., Ridge Ave. Pass.
Ry.
Co., Frankford & Southwark Philadelphia City Pass.
p.
8c
Ry., Fairmount Park
Haddington Pass. Ry. Co., Citizens' Pass. Ry. Co. and the Hestonville
Mantua
&
Fairmount
Pass.
RR.
Co.
On
the
other
was
hand,
however,
it
rule<J that the following companies must assume liability for their
Federal taxes.
Continental Pass. Ry.
Co., Philadelphia & Darby RR. Co
and Green & Coates Streets Phila.iPass.
108, p. 785.
Ry. Co.
V. 107.
p.
v
2009;
V
OCT.,
92".]
ELECTRTC
RAILWAYS
Split in Directorate Over Fare Question.—See V. Ill, p. 389, for details *
Fares.—On Oct. 4 1920 applied to the Penna. P. S. Comm. for auth. t°
a flat 5-cent fare and to abolish all free transfers and 3-cent
exchange
tickets.
V. Ill,, p
1472.
Compare V. 110, p. 2488: V. Ill, p. 74. 1183.
This petition was rejected by the Comm. but
effective Nov. 1 1920 the co.
was auth. to raise fares to 7 cents
cash, with 4 tickets at 25 cents.
No
running
change
105
.
years.
STOCK AND BONDS—
Stock $500,000 ($50)
-charge
was
made in transfer
exchange rates.
or
guaranteed..-c^.cpt'Land
ROAD.—Trackage, 13.608 miles,
V. 111.p. 1662.
Ri'e Increase.—On
Aug. 7 1920 filed new tariffs, effective Sept. 6 1920
the Penn. P. S. Comm.
providing for increased freight, milk and
Loan.—In Sept. 1918 the Penn. P. S. Comm. approved a
contract under which the Government loaned the co.
$1,748,000 to extend
transit facilities for workers in industrial war
plants.
V. 107, p. 1101.
Proposed Plan of Consolidation.—In Aug. 1920, Pres. Mitten made public
following proposed plan of consolidation, after having resigned from the
the
Oo. for 6%
of opposition on the part
The plan provides for the consolida¬
on account
lease-holding companies—Philadelphia Rapid Transit Co.,
(3>
.
be considered
as
if turned
and included under the terms of that lease.
over
following committee has been appointed to treat with Union Traction
an
effort to clear up the present situation.
William M. Mont-
fomery, Ernest T. Trigg. Ill, C. 793.
W. p. Dunbar, Frank Buck and T. E. Mitten,
further details
V.
or
see
STOCK AND BONDS—
$30,000,000 ($50)
Date.
Stock
Interest.
J-J
Outstanding.
Maturity.
(600.000 sh)
Full paid/
$4,580,000 Feb
)
Coil
trust
$5,000.0001
mtge
($1,000) gold
1908
5 g F-A
c*cpt{Int. at Penn Co. for Ins
on
See
text
1
1957
Lives & Granting
I
Annuities, Philadelphia. Trustee.
1912
5 g M-S
9,835.000 Mar 1 1962
A Lc*cpt/Int. at Comm'l Trust Co., Phila., Trustee
1905
4 g M-N
10,000.000 May 1 1955
000.000gu g ($1,000) c*cptflnt. at Land Title A Trust Co., Phila., Trus.
Darby Media & Ches 1st Ml 1906
44 g J-J
991.000 July 1 1936
$1,500,000 ($1,000) g c cpti Int. at Land Title A Trust Co.. Phila., Trus.
Car trust certta., $4,200.0001
1913
5 M-8
1,575.000 Mar 1 i»25
Series "B
..cptfFidelity Trust Co.. Phila.. Trustee
Car trust certfs. $1,944,000.1
1913
5 g M-N
810.000 May 1 1923
Series * C"
cotfFidelity Trust Co., Philadelphia Trustee
Car trust certificates Series! 1919
F-A
80,000'29 A.-O. 14
.
Sink, fund mtge. $10,000,0001
g
($1,000)
guar p
Market St El
1st mtge $10.-1
—
.
_
"I>"
„
Car
trust
t.f./Fidelity Trust Co., Phila.. Trustee.
certificates
Series!
1919
288,000
1929
-t.t.f Fidelity Trust Co., Phila.. Trustee
Funded debt of underlying companies Dec. 31 1919, $57,073,425.
Stock was listed on the Phila. Stock Exchange in
July 1902 and in Feb.
1905 on h, Y. Stock Exchange.
See also V. 110, p. 872.
Bonds.—Collateral trust'bonds are secured by deposit with trustee of
securities owned by Phila. Rapid Transit and also securities of Union
Trac
Co. and Phila- Trac. Co.; entire issue subject to call at 105 on 6
weeks'pub
fished notice on and after Feb
1
1912.
A sinking fund, which will re¬
tire all bonds by Feb 1 1957. began to
operate Feb. 1 1912.
The Market
Street Elevated Ry. bonds cover the
subway and the elevated road od
Market St.
See
V. 80, p. 652They are guaranteed, principal and
Interest, by endorsement by the Phila. Rapid Transit Co.
Are subject
to call on any int. date at
102'4 and Int.
V
84, p. 749: V. 86, p. 547
The Darby Media & Chester Street Ry. bonds are
guar., p. A !., by en
dorsem't by Phila- Rap. Tr. Co.
Can be called at 102 V* A int.
---.—
Both the collateral trust bonds and Market Street Elevated bonds were
listed on the Philadelphia Stock
Exchange In April 1909.
V. 88, p. 945.
The sinking fund mortgage bonds of 1912 are callable on
any March 1
sinking fund at 105 and interest.
Cumulative sinking
annum began Jan.
15 1917.
Of the $10,000,000
authorized $9,835,000 are outstanding and $165,000 have been retired.
Bonds are guar., p. & L, by Union Trac. Co.
V. 94, p. 827, 699.
Car Trusts.—The Ser "B" car trusts mature $175,000 s.-a.
beg. Sept. 1
1913 and ending Mar. 1 1925.
Red. at 102H and int.
Series "C" mature
$81,000 s.-a. from Nov. 1 1913 to May 1 1925.
Red. at 102^ and int. and
are secured
by 500 new cars.
Series "D" mature $8,000 Feb. 28 in 1920
as
a
fund
whole
of
or
for
$35,000
per
and 1921 and $9,000 eacu Feo. 28 thereafter to 1929.
Red. at 102H and
Series "E" mature $28,000 Oct
14 1920 and 1921 and $29,000 each
Oct.. 14 thereafter to 1929.
Red at 102 H and int.
Dividenas.—An Initial div. of $1 per share was paid in Oct. 1916.
In
int.
.
1917, $2 50 per share.
In 1918, $2 50 per share.
In 1919, $2 50 per share.In 1920, Jan., $1.25
per share.
July 1920 div. deferred.
V. Ill, p. 389,
ROAD.—Total
operated, 671.741
trackage Dec. 31
1919,
including
all
lines leased
and
miles.
Owns about 3,389 cars or all kinds. v
REPORT —Fiscal year changed in 1918 to end Dec. 31.
Annual report for vcar ending Dec. 31 1919 was
given in V 110, p. 1409.
ANNUAL
1919.
$
1918.
1919.
$
Pass, earnings.34,739,589 30,568,788
Other receipts. 1.299.930
1.135.640
$
Taxes
1.788.396
1918.
$
1,871.180
36.039.519 31.704.428
Expenses—
Mtce. &
5.766,322
Op.of pow.pl't 2.740,262
Oper. of cars__ll ,387,653
4.755,664
2,719.097
8.951.880
General
exp__24.393.829 20,369.571
11.645.690 11.334.856
2.445.898
2,314.649
Rentals
_a7,483,915 o7,485.391
Divs. (5%)— 1,499.290
1.499.290
Net earnings.
Interest
2.711,196
Surplus
216,586
35.526
a Includes $120,000
sinking fund (city contract).
Latest Earnings.—For 6 mos. ending June 30:
€ Mos.—
Gross.
Net, Aft. Taxes. Oth. Income. Fixed Chgs. Bal., Surp.
1920 ___$18,653,593
$5,217,302
$251,901
$4,899,603
$569,600
1919
17,174.966
5,46.5,889
264,514
4,853,801
876,601
OFFICERS.—Chairman of Board,
; Pres., T. E. Mit¬
ten; V.-Ps., W. C. Dunbar and G. A. Richardson; Sec., F. B. Ellis; Treas.,
G. W. DavisAud., E. L. Austin.—V. 110, p. 1149, 2193, 2482, 2488,
V. Ill, p. 74, 295, 389, 494. 793, 896, 990, 1183, 1279, 1472, 1662.
-..
(1) Doylestown & Willow Grove Ry. Co.—A trolley road.
1902 was acquired by the Philadelphia Rapid Transit through
purchase of the entire capital stock ($500,000) for $20,000.
The Rapid
Transit Co. guarantees interest on the bonds.
See V. 79, p. 1331.
In July
Darbv
&
Yeadon
Street
Railway
stock
($5,000) is owned by the Philadelphia
Transit Oo
Date.
Maturity
Dec
1
1934
(4)
Chester
&
Philadelphia Railway (Chester Short Line)
T. under 30-year agreement dated Feb 14 1011*
Is operated by Phila. R
ORGANIZATION.—Incorp. In Penn
on June 29 1910 as successor to
A Chester Ry.,soid at foreclosure (V. 92. p. 1243),
In considera¬
the Phila
tion of
an
agreement to operate the line the Phila. Rapid Transit received
51% of Chester A Phila. stock.
The Chester A Phila. receives 35% and
Rapid Transit 65% of gross earnings, for which the Rapid Transit assumes
all «ost* of operation.
The 35% to be applied to int. on bonds and dlvs.
on
toe;
Franchises are unlimited as to time.
8TO )K AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock
$485,000 ($50)
$485,000
M $600,000 gold ($100.-1 1910
5 g J-J
600.000 July 1 1940
$500 and $1,000)
c*.tfflnt. at Real Est. Tit. Ins.ATr.Oo..Phila..Tr.
Bonds.—Red. on any Int. date at 105 and int. on four weeks' notice.
Free from Penn. State tax.
Sinking fund of One-half the
...
1st
surplus earnings
the stock shall either purchase and retire bonds or be used for
V. 104, p. 763.
Listed on Philadelphia Stock Exe-h.
EARNINGS.—For years ending Dec. 31:
over
new
4%
on
construction.
Calendar
Gross
Year—
Rental
$374,759
Other
Total
(35%).
Earnings.
.,
1919
Reds.
Receipts.
Interest,
Balance,
Taxes,&c. Surplus.
$131,166
$3,087
$134,253
$47,641
$86,611
1918
449.554
157.438
3,782
161,219
91,496
69.723
ROAD.—16.777 m. of track. Including main line from Chester to Phila.,
and branches from Essington to Moore Station and Essington to Phila.—
V. 92. p. 1310: V
104. p. 7634
UNION TRACTION.—A trolley road.
Lease.—The Union Traction Co. has been leased for 999 years from July 1
1902 to the Philadelphia Rapid Transit Co.
Lease rental (payable io
gold) is $900,000 per annum (equal to 3% on the face value of the $30,000.
000 stock) for the first two years, $1,200,000 per annum (equal to 4% on
stock) for the next two years, $1,.500.000 per annum (equal to 5% on stock)
for the next two years and $1,800,000 per annum (equal to 6% on stock)
thereafter.
The stockholders of the union Traction Co. were given the
right to purchase 150,000 shares of the new Rapid Transit Co. stock.
V.
74. p. 989.
Included at the time all the leading street passenger railway
lines within the city of Philadelphia.
ORGANIZATION.—Chartered Sept. 13 1895, and acquired on or about
Oct. 1 1895 all the shares of the Electric Traction and People's Traction com¬
panies, in place of which were issued collateral trust certificates secured by
the shares placed in trust.
In 1896 leased these properties for 998 years and
3 months from July 1 1896.
On Oct. 1 1895 leased for 999 years the Phila¬
delphia Traction at 8% on its capital stock.
V. 61, p. 663
Leases (from
Jan. 1 1898) Hestonville Mantua A Falrmount Passenger Ry. for 999 years
at 6% on pref. and 4% on com. stock.
See V. 66, p. 236.
The Lehigh Ave.
Ry. Co. ($1,000,000 stock) was also leased for 999 years from July 1 1899.
See terms of consolidation, Ac., in statements for the constituent companies
and V. 61, p. 152. 197, 283, 663.
For change in terms of lease see V. 89,
p. 594.
The Philadelphia Rapid Transit now operates the road.
Also owns entire stock of the Philadelphia A Willow Grove Ry. Co.
Union Traction shareholders in Oct. 1908 gave their assent to the use of
certain securities owned by the Union Trac. Go. to be pledged as collateral
for the $5,000,000 loan of the Phila. Rapid Transit Oo.
V. 87. p. 1110.
The shareholders voted June 20 1910 (formally ratified Sept. 21
1916:
V 91, p. 337) to purchase the equipment of the Phila. Rapid Transit, and
lease same to that company on terms as stated under Phila Rapid Transit,
and make the equipment the basis of an issue of $1,500,000 car trusts.
On
Feb. 26 1913 they voted to purchase additional equipment and lease it to
the Philadelphia Rapid Transit Co. and to issue $4,200,000 car trust certifs.
(Series B) as a result of the transaction.
In May 1913 a further issue of
$1,944,000 car trusts (Series O) was put out.
See under Phila. Rapid
Transit and V. 96, p. 555, and V. 97, p. 803.
On Feb. 28 1911 shareholders voted to guarantee new Phila. Rapid Transit
$10,000,000 mtge.
See under that company and V. 91, p. 1575; V. 92.
p. 324, 463, 596.
Income Tax Decision.—See under Phila. Rapid Transit Oo. above.
Equip. Trust.—Owing to a disagreement over the terms upon which the
co. would consent to the issuance of $6,000,000 P. R. T. equip, trust certifs.
this matter has been held up.
The following sub-committee has been ap¬
pointed to confer with the committee of Philadelphia Rapid Transit director s
on
this
question.
The sub-committee comprises Chas.
Head.
Chas.
McManus. Arthur V. Morton and "Joseph Gilfillan.
V. Ill, p. 1280.
Proposed Plan of Consolidation.—See under "Phila. Rapid Transit Co."
STOCK AND BONDS8tock $30,000,000 (par $50)-I
Trust
Co
guar.,
Trust
certificates, gold,
A I by Union-!
p.
Co
cpt
Date.
Interest.
Outstanding.
Maturity.
(600.000shs.( July'20.3%
U17.50 pd.inj
A-O
$29,730,114
Red.
after
J-J
1895
4 g
Int. at Pa- Co. for Ins.
Oct
1
1946
Lives A Granting
on
Annuities. Trustee.
Collateral trust first mortgage
1902
4 g J-J
1,227,000 July 1 195 2
$1.500.000 gold
cpt (Land Title A Trust Co.. Philadelphia. Trus.
Trust Certificates.—The trust certificates are not the direct
obligations
of the Union Traction Co., but were Issued by the Pa Co. for Ins on Lives
k
Grantiag Annuities, to
pay
for the shares of the Electric and People's Trac¬
tion companies purchased and are secured by a
deposit with the Trust Co.
of all the shares of the stock of the Electric Traction Co and the People's
Traction Co. thus acquired.
See description of certificates in V 64. p. 135.
They are guar., prln. and int., by the Union Traction Co., and are redeem¬
able at the option of that company on and after Oct. 1 1945.
Collateral Trust Bonds.—The collateral trust bonds were issued to fund
the
floating debt and
secured by the deposit of the 35.000 shares of the
Subject
$273,000 has been retired by sinking fund.
OFFICERS.—Pres.. Jeremiah J
Sullivan;
Lst V.-P
Chas. E
Heed
Sec. & Treas.. T. M. Cleary.—V. 110, p. 1859; V. Ill,p. 75,791,1184,1280.
common
are
stock of the Hestonville Mantua A Falrmount Pass. RR
to call at 105 and accrued int.:
_
2.071.744
renew
Daid-in capital
on
.
Total
Total
annum
($1.000)
c*_cptf Int. at Land Title A Tr. Co., Phila.. Trustee.
bands.—Are guaranteed, prln. A Int., by endorsement by the Phila. Rap.
Transit Co.
Are subject to call on any interest date at 105 and Interest.
ROAD —From the Philadelphia < bounty line to Darby, 2.498 nallea
,
494.
1331.
p.
guar
new
officials in
V. 79,
Interest.
Outstanding.
Stock all owned by Philadelphia Rapid Transit Co.
First mortgage $200,000 gold!
1904
4^ g J-D
$200,000
_
The
per
STOCK AND BONDS—
upon
8% 1st Preferred stock
$34,865,057
Union Tr. Co. 6% stock! 600.000 shares, par $50 7% 2d Pref.,
$30,000,000
If pay assess.. $10 p. si
(paid in $17.50 p sh.)
(100%)
Philadel. Rapid Transit i $600,000 shares
Com. stk. 600,000 shares
Go. capital stock
J Par $50, full paid
(No par value) (100%)
Note.—-Capital paid in and surplus are now as follows: (a) Phila. Traction
Co. stock full paid, $20,000,000; surplus. $486,220; total, $20,486,220.
(6) The "Peoples Electric Traction 4% Trust Certificates" are secured by
$6,090,000 full-paid stock of Peoples Traction Co.. and also Electric Trac¬
tion Co. stock on waich $8,297,920 has been paid in viz., 152,396 shares of
$50 each full paid and 22,604 shares $30 paid,
(c) Union Traction Co. paid
n on stock
$10,500,000, surplus $3,753,141 and proposed assessment $6,000.000.
(d) Phila. R, T. Co. stock, $30,000,000 full paid and surplus
$4,482,120.
Grand total paid-in capital and surplus $89,519,401.
For
full deta'ls of above plan see V. Ill, p. 793, 896.
In May 1920, the Philadelphia City Council authorized an issue of
$6,009,000 7% equip, trust certificates "Series F" maturing in equal semi-annual
installments during a period of not more than 10 years, to be secured by the
lease of 1,500 surface and 97 elevated subway cars.—V. 110, p. 1749, 2193.
The Union Traction Co. however, demanded as the price of its consent to
the proposed $6,000,000 Car Trust that P. R. T. give to Union
every equity
that P. R. T. now possesses, and in addition agree to make over to Union all
property which
it may hereafter acquire.
The P. R. T. refused to
accede to these demands,but offered in consideration of the Union
assenting
to the equip, issue, to make over to Union the
ownership of real estate and
stocks of subsidiary companies to the same effect as if Union had leased
them to the P. R. T. under the provisions of Sections 12 and 13 of the
lease of
1902.
P. R. T. would also agree that the 500 cars purchased since 1902
from Doylestown to Willow Grove,
turnpike between those places, which is leased for 999
ORGANIZATION.—Ennlre
Rapid
which exchange of secur¬
new co. would be made.
/
'
Holders of Pres. Secur.— Amount Outstanding.
Would Rec.'New Stoclct
Phila. Trac. 8%
stock..\$20,000,000
8% 1st Pref., $20,000,000
/Par $50, full paid
(100%)
Peoples Trac.l4% Trust $29,730,114
"
8% 1st Pref., $14,865,057
Electric Trac / Certif.
(Secured by stock)
(50%)
Total
Maturity.
STOCK.—Auth. amount, $1,302,000 ($50); 22.456 shares outstanding
$25 paid in,
"Amount due other companies" Dec. 31 1919, $893,722.
ROAD.—Trackage 65.295 miles.
Union Trac. Co., Phila. Trac. Co., Electric Trac. Co.,
Peoples Trac. Co.,
nto one operating co.; transmuting the stocks and other securities of
these cos. into the stock of the new co., so as to maintain
present preference
as to assets and dividends of the
respective cos.
An assessment of $10 per
share on Union Traction Co. stock is provided for under the
plan.
The
ities of present cos. for stock of
Outstanding.
$500,000
(2) Twenty-Second Street & Allegheny Avenue Passenger
Ry.
ORGANIZATION.—Formed in 1903 and merged the old Twenty-second
St. A Allegheny Ave.
Passenger Ry. Co. (chartered 1890), the Falrmount A
Frankfort Ry. Co., Fisher's Lane Ry. Co., LIndley Ave. Ry. Co.. Ohelten
Ave. Pass. Ry. Co., Germantown A Falrmount
Ry. Co. and the Phila. A
Trenton Rapid Transit St. Ry. Co.
Is leased to the Phila. Rapid Transit
Government
following table is designed to show the basis
over the old
Interest.
4 g J-D
500,000 June 1 1930
Title A Trust Co., Phila.. Trustee.
EARNINGS.—Included in Phila. Rapid Transit Co
rat6s
tion of the five
1900
gold
with
directorate of the Union Traction Co.
of members of the board to this plan.
Date.
First mtge $500,000 ($1,000)1
LINES
(1)
CONTROLLED
Catharine
&
Bainbridge
BY
UNION
TRACTION
Streets -Ry.—A
CO.
trolley road.
ORGANIZATION.—Incorporated May 14 1889. and leased to the Phila¬
delphia Traction Co. Mar. 1 1890 for 99
years, and included in lease of that
1895: In Sept. 1895 terra of lease
increased from 99 to 999 years and stock from $150,000 to $400,000
(all owned by Phila. Trac. Co.); rental is $24,000 yearly, besides interest
company to the Union Traction Co. Oct. 1
was
The $150,000
at
lst M.
5s due April
6%.
1
1920
were
extended for 10 years
•
STOCK AND BONDS—
Stock (par $.50)
lst M $150,000 ($1,000) c-cpt
Due lessee Dec. 31 1919
Date.
Interest.
Outstanding.
6% M-S
6% A-O
—-
Bonds are not subject to call.
Penn. Co. for Insurances on Llvee. Ac.
Dividends.—Dividends of 6% are paid.
ROAD.—The road aggregates
Maturity.
$400,000
See text
150.000 April 1 1930
234,698
Interest at Land T. A T. Co.. trustee.
1890
5.53 miles of track.
-
-
-
—
,
ELECTRIC
106
STOCK AND BONDS—
Citizens' Passenger Railway.
(2)
ORGANIZATION.—Incorporated Mar. 25 1858.
Leased to Frankforc
Passenger Railway Co. April 1 1892 for 999 years; rental
now $140,000 per annum, equal to 28% on stock, or $14 per $50 share.
This lease was assumed by the Electric Traction Co. July 1 1893.
Operated
by PhiJa. Rapid Transit Co.
Income Tat Decision.—See under Phlia. Rapid Transit Co. above and
V. 108, p. 784.
Stock authorized, $500,000; par ($50); paid in, $192,500—$20 on 8.500
shares and $15 on 1,500 shares.
11.447 miles of track.—V. 108, p. 784.
Southwark
9c,
Continental
(3)
Passenger
Railway.—A
trolley
Ser annum, interest, June 30 1884. Operated by Phila. Rapid Transit Co
elphia Traction Co. taxes and operating expenses; lease assigned to PhilaStocks owned, per balance sheet Dec. 31 1919, $600,000Income Tax Decision.—See under Philadelphia Rapid Transit
and V.
Int.
Interest.
Outstanding
Co. above
$6 J-J
($500
mortgage
$1,000) gold
Due lessee
and)
1878
for
Dec.
additions
4
.
in./
See text
$280,000 July 1 1959
J-J
31
$672,260.
1919,
Bonds were originally 6%. but in 1909 were extended for 50 years at 4%.
Int. payable at office of company.
Not subject to call.
Bonds were listed
In 1909 on
Phila. Stock Exch
V
88. n. 822Trackage. 11.41 miles
V. 106, p. 924; V. 108. p. 784, 2528; Y. 109, p. 2262.
Electric
May 8 1893 and acquired control of
Passenger Ry., the Frankford & Southwark Passenger Ry.
$85 per share for each share, on which $50 had been paid, and $70 per
■hare for each share on which $30 had been paid, the Pennsylvania Co. for
Lives & Granting Annuities issuing therefor its guaranteed
On July 1
1896 the Union Traction Co. leased the
property for 998 years and 3 months.
See V. 61, p. 197, and also "Union
Traction" above.
on
Stock authorized.
$50 paid
175.000 shares of $50 each; issued. 152.396 shares of
p.
1500-
March 6
chartered
1893 to operate and equip with trolley the People's Passenger Ry., the
entire capital stock of which it purchased on or about April 15 1893.
In
Oct. 1895 the Union Traction Co. acquired all traction stock at $76 per
share, the Pennsylvania Co. for Insurances on Lives and Grant. Ann.
issuing therefor its guaranteed trust certificates.
On July 1 1896 the Union
Traction Co. leased the road for 998 years and three months.
STOCK, &c.—
stock
($30)
Date.
Capital
certificates
not
gold
1893
subject
Trust
call
($1,-
to
000)
1893
Maturity.
i.I
Issued.
Interest.
See text.
(See
Full paid
1200.000 shs. J
4 g F-A
$5,807,970 Feb
1
1943
Interest, tax free, payable at Pennsylv. Co.
for Insurances on Lives, &c., Phila, Tru«.
cpt
Trust certificates were issued by Pennsylvania Co. for Insurances, &c.,
and are secured by pledge of People's Passenger Ry. stock (see that company
above) and by contract of People's Traction Co., which guarantees principal
and interest.
Issue limited to $1,000 for 14 2-7 shares deposited, making
total authorized, $5,810,000.
Of this, $5,337,000
1 1903.
Sinking
outstanding.
fund $25,000 yearly, began Feb.
Rail. 90 lbs.—V. 63.
p.
557.
Passenger Railway.—A trolley road.
ORGANIZATION.—Incorporated Feb. 10 1869.
Leased Dec. 26 1873
.to Citizens'
Passenger Railway Company and the Seventeenth & Nine¬
teenth Street Passenger Railway Company for 999 years.
Transferred
Oct. 1 1895, along with all right to dividends on 6,100'shares of its stock
(then held by the Union Passenger Railway Co. as trustee and lessee), by
lease of Philadelphia Traction to the Union Traction Co.
Dividends are
$1 50 per $50 share each June 30 and Dec. 30—that is 6% per ann.
STO0K AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$50)
Stock (par
(All owned by Phila. Trac.)
1st M gold $200,000
c .cpt_
1900
3 Ha were issued
new
3H
$600,000
200.000 Marl 1930
like amount of 7s. due
July 1900.
Land Title & Trust Co., Phila.. Trustee.
.Due lessee company for additions Dec. 31 1919, $705,715.
ROAD.—Mileage, 12.33 miles.—V. 70 p. 1150.
Bonds.—The
to
g
J-J
retire a
(6) Frankford & Southwark Philadelphia City Passenger Railway.
ORGANIZATION.—Incorporated April 4 1854.
Acquired stock of
& South Streets Passenger Railway in 1890.
Leased to the
Lombard
Electric Traction
■everal
years
Co.
named
for
999
below
years
1st
2d
3d
$12
$12.50
$13
from July
1
1893; dividends for the
being guaranteed
Income Tax Decision.—See under
and V. 108. p. 784.
4th
5th
$13.50
$14
per share:
Philadelphia Rapid Transit Co. above
5th
7th
$14.50
8th
9th
$15
$16
$17
9-J
10th and
after
STOCK AND BONDS—
c.cpt
West End
Pass
Ry mtge
ext $150,000
($100 and
$500)
c.cpt
Co., Trustee.
9
1875
4 A-0
-
—
-132,100
Oct 1 1935
Phila. Trust, Safe Deposit & Ins. Co., Trustee
-
.
Germantown Passenger Railway.—A trolley road.
(7)
ORGANIZATION.—Incorporated April 21 1858.
Leased Oct. 1 1881
the People's Passenger Ry. Co. for 999 years, but rental modified in
1893; stock since 1897 receives dividends yearly of $5 25 per share.
Income Tax Decision.—See under Phila. Rapid Transit Co. above.
to
Stock authorized,
$1,500,000 ($50); paid in, $572,860.
ROAD.—Trackage, 43.905 miles.
Extension of 2,000 feet from Hillcres
Avenue to city line, completed in Sept. 1898, forms with the
Roxborougb
Chestnut Hill & Norristown
—V. 69, p. 695.
(8)
Green
Passenger Ry.,
a
through line to Norristown
&Coates
ORGANIZA
Streets Philadelphia Passenger Railway.
riON.—Incorporated April 21 1858.
Leased to People'*
Passenger Ry. for 999
Interest
years from Sept. 1 1881 at an annual rental of $60,000.
bonds (since fallen due) and expense of management.
Tax Decision.—See under Phila.
Rapid Transit Co. above and
on
Income
V.
108, p. 784.
10,000 shares (par value, $50). $15 paid in.
Dividends are 12%
(Q-J); on par or 40% on amount paid in (but see V. 107, p. 1384).
Trackage, 5.429 miles.—V. 107, p. 1384; V. 108, p. 784.
Stock.
per an.
^)Hestonville Mantua & Fairmount Passenger
^lON.—Incorp
April 6 1859.
Railway.
Franchise is perpetual
LEASE.— Ilestonvilie M. & F. road leased from Jan.
Traction for 999 years at a rental of
6% on the
1
1898 to
Union
preferred and 4% on the
By the terms of the lease the Fairmount Park & Hadding¬
ton lease is assigned to the Union Traction, which assumes
the dividends
guaranteed on that stock.
common
Interest.
($50)...-
7H J-J
(14) Philadelphia & Darby
Ry.—A trolley road
ORGANIZATION.—Incorporated April 28 1857.
Leased to the Phila¬
delphia City Passenger Railway Co. for 999 years from Jan. 1 1870, for
$8,000 per annum and interest on bonds.
Transferred under lease of
Philadelphia Traction Co. Oct. 1 1895 to Union Traction Co.
Income Tax Decision.—See under Phila. Rapid Transit Co. above and
V. 108, p. 784.
STOCK AND BONDS—
Stock (par $50)
First mortgage
Date.
Interest.
Outstanding.
4 J-J
c.cpt/
$200,000
Maturity.
See text
100,900 May 1 1927
4 M-N
ROAD.—Trackage, 16.016 miles.—Y. 108,
See text
Interest at Land Title & Trust Co.
The Lombard & South Sts. pass, issue of $150,000 was originally 5%
but was called at maturity and tnen extended for 50 years from Dec. 1 1901
at 3H%The West End Pass. Ry. mtge. matured Oct. 1 1905 but wai
extended for 30 years at 4%.
V. 81. p. 156.
'
ROAD.—Trackage, 71.586 miles.—V. 108, p. 784.
-*.
$1,000,000
lint, at Land Title & Trust Co., Phila., Pa.
Debt of Controlled Lines (assumed by Electric Traction Co.)
Lombard & South Streets
10
1881
3H J-D $150,000 Dec
1
1951
Pass first mtge $500 & Interest at Real E state Title Insurance & Trust
$1,000)
Date.
Outstanding.
Maturity.
(20.000 shs. 1
See text
[$23 75 paid}
First
mortgage
extended! 1861
4 J-J
$200,000 Jan 1 1960
($500) c
cptfLand Title & Trust Co., Trustee.
Debentures ($500 &c) c.cpt/
5 M-S
100,000 Mar 1 1935
[Interest at Land Title & TruBt Co., Phila.
ROAD.—Trackage. 7.566 miles.
V. 89. p. 919, 1543; V. 108, p. 785.
Stock
$18
$1,875,000
Leased to West Phila¬
from Jan. 1 1884 for interest
nally 5% bonds, and fell due Jan. 1 1910, but were extended at 4% without
option of prior redemption.
V. 89. p. 1543
Income Tax Decision.—See under Phila. Rapid Transit Co. above, and
V. 108, p. 784.
STOCK AND BONDS—Miles. Date. Interest. Outstanding Last div.,&c
Stock (par $50)
years
bonds, $2,500 per year for organization and dividend of $7 50 per share.
Transferred under lease of Philadelphia Traction Co. Oct. 1 1895 to the
Union Traction Co.
The 1st mtge. 4% bonds due Jan. 1 1960 were origi¬
Empire
(5)
Philadelphia City Passenger Ry.—A trolley road.
(13)
ORGANIZATION.—Incorporated April 9 1859.
delphia Passenger Railway Co. for 999
on
and 22,604 shares of $30 paid, making total $8,297,920.
ROAD.—Mileage. 130.209 miles.
stock.
(15)
p.
784,
./
Philadelphia & Gray's Ferry Passenger Ry.—Trolley.
ORGANIZATION.—Incorporated April 8 1858.
Leased to Philadelphia
Traction Co. for 999 years from Jan. 1 1891 at rental, first five years,
$43,225. or $3 50 per share per annum, and $49,400. or $4 per share per
annum thereafter, the lessee to pay all taxes, running expenses, &c.
Oper¬
ated by Phila. Rapid Transit Co.
In March 1903 absorbed the Schuylkil
River Pass. Ry. and Increased capital stock to $1,000,000.
V. 76, p. 654.
Stock: auth., $1,000,000 ($50); outstanding, 12.388 shs., about $25 pd.in.
Dividends at Real Estate Title Ins. & Trust Co.
Philadelphia
(16)
an
Traction.—A
trolley
Trackage, 10.612 miles.
road.
ORGANIZATION.—Incorporated Aug. 22 1883 and secured control of
extensive system of roads in Philadelphia, Pa. (about 210 miles of track)
which it held either by lease or ownership of securities, not in fee.
Under
the lease to the Union Traction Co., dated Oct.,1 1895. all the leases and
the securities owned were assigned to the Union Co., which assumes all
liabilities
for
rentals,
&c.
The lease to Union Traction Co. Is for 999 years from Oct. 1 1895, and
provides for dividends of $4 (8%) per annum on each $50 share, payable In
gold coin, free of taxes.
See V. 61, p. 663, for extracts from lease.
Phila¬
delphia Traction stockholders were allowed to subscribe for new Union
Traction stock
See V. 61, p. 197
Income Tax Decision.—See under Phila. Rapid Transit Co. above, and
V. 108, p. 785.
Stock, auth. and outstanding, $20,000,000 (par $50).
Open accounts
Dec. 31 1919, $16,121,567.
Dividends—
I
85.
2
'87. '88.
'86.
\
3
'89. '90-'93.
'94. *95. '96 and since.
8
8 8% per annum
V. 61, p. 663; V. 73, p. 288.
ROAD.—The system assigned to the Union Traction Co. aggregated
333.245 miles, consisting of the following "Passenger Railways":
Per
cent
6
5
6
4
Tnder lease, dividends of 8% are guaranteed.
Miles
Onion Passenger Ry
West Philadelphia Pass. Ry
80.97
72 94
Ridge Avenue Passenger Ry
15 40
Philadelphia & Darby Pass. Ryl6.02
13th &
15th Streets
Miles.
17th
and
19th
Streets
13.81
22d & Allegheny
65.29
Catharine & Bainbridge Streets 5.46
Huntingdon St. Connect
.17
.16
19-51
Kessler St. Connect
,*10-61
Ridge Ave. Connect
.22
Continental Passenger Ry
11.41
Walnut St. Connect
1.38
Empire Passenger Ry
12.33
___
Philadelphia & Gray's Ferry
Total of all
Philadelphia City Passenger Ry 7.56
V. 97, p. 951; V. 106, p. 925; V. 108,
p. 408;
Income Tax^Decision.—See under Phila. Rapid Transit Co. above and
—V. 93.
STOCK
333.25
2568.
AND BONDS—
Common stock par $50
Date.
g
$500
&
Interest
4 J-J
6 J-J
Outstanding.
Maturity.
$1,966,100 f.p. See text
533.900 f.p. See text.
1894 5-3M g M-N »1,250.000 May 1 1924
$1.000-C*x_cptfTrustee, Girard Trust Co.
Preferred stock par $50
M
$1,250,000
Consolidated
Guaranteed
rental 999-year
I'k & Haddington!
Ry stk par $50
I
"Leased Equipment Account.
Dueleased lines Dec. 31 1919
6 g F-A
300,000
8eetext
Pass
Interest
is
payable in
Dec 31 1919
Philadelphia,
241 968
100.000
x
Free of tax.
as
3Hn
Ry. due at that
1902. to take up a like amount of 2d mortgage
Common stock authorized, 39,322 shares;
preferred. 10.678 shares; par
value of each. $50: stock outstanding as In table.
p.
1167; V. 108,
p.
784.
(10) Lombard & South Street Passenger Railway.—See Frankford &
Southwark Passenger Railway.
People's Passenger Railway.—An electric road
15 1873.
The People's Trac. Co.
15 1893 acquired the entire capital stock of this road at $70 per
■hare.
The Traction Co. then leased the People's Passenger Ry.
By a
tripartite agreement this lease was on July 1 1896 assigned to the Union
Trac. Co. for 998 years and three months.
Rental is 10% per annum on
capital stock ($2 50 per share) as below shown. nearly all of which is pledged
for People's Pass. Ry. trust certificates.
(11)
ORGANIZATION.—Chartered Apr.
Apr.
5c
Willow
Grove
consolidation
Street
_
p.
785;
Railway
V. 110,
Co.
In
1904 of the Phila. & Willow
Street Ry. and the Glenside & Willow Grove Street Ry.
Entire
is owned by the Union Traction Co.
The Phila.
a
Rap. Tran. Co.
guarantees the
v.
79. p. 904-
First
Of the $1,250,000 outstanding, $124,500 were issued Jan.
1901
to take up bonds of like amount of the Fairmount Pass.
ROAD.—Trackage, 19.654 miles.—V. 71,
Philadelphia
bonds,
prln.
8TOOK AND BONDS—
Stock
$1,000,000
♦
time and $75,000 on Mar. 1
6s maturing on that date.
(17)
ORGANIZATION.—Is
Grove
stock
lease—
Fairmount
on
557; V. 92,
p.
certificates.
trust
^
People's Traction.
text
and the Second & Third Streets Passenger Ry.
On July 1 1896 leased for
999 years the Citizens' Clearfield & Cambria St. Ry., the Citizens' East End
St. RY.. .the Brown& Parrish St.. Ry. and the Citizens' North End St. Ry.
In 1895 the Union Traction Co. acquired all the stock at the rate of
Insurances
See
(12) People's Traction.—An electric road.
ORGANIZATION.—A Pennsylvania corporation
Traction.
ORGANIZATION.—Incorporated
the Citizens'
The 1st M. bonds ma¬
1st M. bonds at Land Title & Trust Co.
trust certificates.
or
f20.000 shs.,1
Land Title £, Tru '„ Co., Phila., trustee
c&rI
285,000 July 151961
& 8. D. Co.. Phila., Trui.
246.000 Mar 1 1962
& S. D. Co.. Phila., Trus.
originally 5s and fell due Mar. 1 1912, but were extended for 50 years as 4s.
Due People's Traction Co. Dec. 31 1919 for construction and equipment.
$6,058,302.
The stock acquired Dy the People's Traction Co. was pledged as security
Maturity
[ $29 paid
First
on
Outstanding.
Maturity.
31
o60,000 shs. See text
31
a23.000 shs. See text
$219,000 Jan 15 1935
15 1905, but $219,000 of the $250,000 were extended as 4s to
1935, the remaining $31,000 being canceled.
The 2d M. bonds matured
July 15 1911, but were extended as 4s to 1961.
Consol. mtge. bonds were
ROAD.—Trackage. 2.659 miles.—V. 63,
Date.
-
*
Preferred stock
108, p. 784.
STOCK AND BONDS—
Stock (par $50)
(4)
Date.
Interest.
($25)
10% M-S
($25)
10% M-S
First mortgage ($l,000)c_cpt 1874
4 J-J 15
Second
mortgage
$500.000 [ 1881
4 J-J
($1,000)
c.cptflnt. at Guar. Tr.
Consolidated mtge $1,125,-1 1882
4 M-S
000
($1.000)„--c&r_cptJlnfc. at Guar. Tr.
a Total stock paid In $924,056.
Common stock
tured Jan.
road.
ORGANIZATION.—Incorporated Sept. 3 1873.
Leased Jan. 1 1880
Union Passenger Railway Co. for 99 years at rental of $6 per shar*
to
[Vol. Ill
RAILWAYS.
and
int.,
Date.
by
endorsement.
Interest.
See
Outstanding.
guaranty,
Maturity.
$1,000,000
$1,000,000 guarf 1904
4H g J-J
1,000.000 July 1 1934
gold ($1,000)
c*_cpt 1 Int. at Land Title & Tru. Co., Phila., Trustee.
mtge
Bonds.—Bonds
are subject to call on any interest date at 105 and
interest
A sinking fund began after 5 years: of $10,000
per
for 5 years, $15,000
per annum for following 5 years and $20,000
per annum for the ensuing 15 years.
See V. 79. p. 904.
upon
30 days' notice.
annum
ROAD.—Trackage from intersection of Weaver St. or Cherry Lane with
Montgomery County line to Willow Grove Park, 14.777 miles.—V. 79.
p. 904: V. 81. p. 32.
(18) Ridge Avenue Passenger Ry.
ORGANIZATION.—Consolidation of Girard College Passenger Ry. and
the Ridge Avenue &
Manayunk Passenger Ry. on March 8 1872.
Leased
to the Philadelphia Traction Co. for
999 years from Sept. 1 1892 for dividend
of $10 per share per annum to
8ept. 1895 and $12 per share thereafter.
Operated bv Phila Rap. Transit Co.
Income Tax Decision.—See under Phila.
Rapid Transit Co. above and
V. 108, p. 785.
Oct., 1920. |
ELECTRIC
STOCK.—Authorized
and
outstanding.
$750,000
($50);
about
ORGANIZATION.—Incorporated April 10 1858.
Leased Jan. 1 1893
Passenger Railway Co. for 999 years for the
per share per annum:
to the Frankford & Southwark
1896-97.
1898-99.
,™„9eebelow
1900.
*10
1901.
$10 50
1902
<&
$11
after.
$12
Dividends in 1896 and 1897 were to be $9 50
per annum, but the dividend
for 1890 and for the first half of 1897 was at the rate of $9
per share instead
of $9 50, the balance being applied to the payment of the debt of
$27,000
incurred for paving.
V. 62, p. 785.
The full $12 per annum however,
been
paid
This lease
Stock
(20)
since.
«
assumed
wan
by Electric Traction Co. July 1 1893.
issue<ji, 21,204 shares (par $50); $771,076 paid in.—V. 107,
Seventeenth
&
Nineteenth
Streets
Passenger
p. 2377.
Ry.
ORGANIZATION—Incorporated April 12 1859.
Leased to the Conti¬
nental Passenger Railway Co. for 99 years from July 1 1879 at a rental of
$15,000 per annum, being 3% on 10.000 shares (par $50) stock. Interest on
bonds, taxes, expenses. &c.
Transferred under lease of Philadelphia Trac¬
tion Co. Oct. 1 1895 to the Union Traction Co.; all rights of the
Philadelphia
on the 10.000 shares of the 17th St
19th 9treets
STOCK AND BONDS—
Date.
Interest.
(par $50)
since
$689,646
July 1 1917.
ORGANIZATION.—Incorporated In New Jersey on Dec. 4 1902 with
broad powers.
Is empowered to purchase, acquire, develop and con¬
struct street railways, electric light ana
power, water and gas companies.
In Dec 1902 obtained control of the United Power & Transportation Co.
rhrough purchase of the outstanding ($3,593,750) capital stock, on a basis
of $75 for each $25 share, payable in collateral trust bonds.
$3,692,200 of
this stock was exchanged for bonds on this basis.
On April 23 1915 stockholders approved Che issuance of new, irredeemable
oreferred stock in exchange for the old pref. stock.
V. 100, p. 1592.
Under a supplemental agreement dated July 26 1917 between the Inter¬
state Rys. Co., United Power & Transportation Co. and Real Estate Title
Insurance & Trust Co., the outstanding amounts of United Railways and
Delaware County Ry. gold trust certificates (see United Power St Trans¬
very
Maturity.
110,000 shs. I
See text
\ $25 paid f
$100,009 July I 1929
First mortgage
ded
($500) exten-/ 1876 5H J-J
c_cpt\Int. at Fidelity Trust Co., Phila., Trustee.
originally bore int. at the rate of 5% per annum and matured
1919, but were extended for 10 years at 5H%.
The bonds
lessee for additions Dec. 31
1919.
$554,289.
Com
1
1895
p.
Date.
Income
Decision.
Tax
-See
under
Phila.
Rapid Transit Co. above and
STOCK AND
BONDS—
Date.
Real estate mortgages
Interest.
Outstanding.
faturity
$12 J-J
$334,529 pd. in
See text
5 & 33* J-J
$436,000 Jan 1 1934
55,000
1894
cpt
*
The consols are guaranteed,
...
prln. and Int., by the Phila. Traction Co
1920 19234
Dividend In July 1895. $5 per share: the Jan. 1896 dividend was not paid,
owing to payment of city's claim for paving.
V. 61, p. 1155.
In July
1896 paid $4 per share; In 1897 $10 50 per share; in 1898. $11 per share; in
1899, $11 per share: In 1900. $11 50 per share; 1901-1907. lncl., $12 per
•bare per ann.
In 1908, Jan., $6; July. $6, and $1 extra (paid out of accum¬
ulated surplus); 1909 and since, $12 per share per annum.
1531; V. 108,
p.
p.
gold
are
stock
785.
Interest.
on
each share, or a total of $925,000.
Stock Is considered full paid
$302,300 of the stock Is owned by the Philadelphia Traction Co.
Its lease
of the Continental Passenger Ry. was assigned to the Philadelphia Traction
Co. and from Oct. 1 1895 to May 1 1902
operated by the Union Traction Co
The Union Passenger Railway Co. is still holding, as lessee and trustee
6,100 shares Empire Passenger Ry. stock and 10.000 shares of 17th & 19tb
Streets Passenger Ry.
BONDS—
Stock $1,500,000
First
mortgage
Interest
Maturity.
See text
and) 1881
4 A-O
$500,000 Mar 31 1961
.c.cpt/Pennsylvania Co. for Insur. on Lives, Trus
($100
mortgage
$500)
and)
1884
4 A-O
250.000 Mar 31 1960
c.cpt f Int. on both loans at Land T
Due lessee company for additions
The 1st mtge. bonds were
in Jan.
Outstanding.
See text.
$9 50 J-J
($100
$500)
Second
Date.
(par $50).
Dec. 31
& T, Co
.
1919, $6,655 462.
originally 5s and matured March 31 1911
1911
arrangements were made with
Phil
but
Drexel &
Co., Phila., to pur
chase the bonds, and they were extended for 50 years at 4% without option
to call.
V. 92. p. 190.
The 2d M bonds of 1884 were formerly 5s. and ma
tured Mar. 31
prior
1910, but
redemption.
substituted
V.
were
90,
.
extended for 50 years at 4% without right of
Laud
628.
p.
trustee.
Title
Trust
&
Co.
has
beer
,
ROAD.—Trackage, 80,974 miles.—V. 108,
p.
2529; V. 109,
p.
2440.
$10.-)
and
dated Feb. 1
the
4%
1903 and
third
are secured by deposit of United Power
They bear 3% interest the first year, 3H% the
and subsequent years.
Denominations $100,
Are subject to call at 105 and Int.
Dividends.—Initial div.
Philadelphia Traction Co. for 999
20%
or
on
years at an
Leased Jan I 1884 u
annual rental of $150,000
stock, and Interest, taxes. &c.: transferred Oct. 1 1895 to Union
The Philadelphia Traction Co owns $392,950 of the $750,
Traction Co.
000 stock.
STOCK AND
Stock
BONDS—
Date.
Interest.
$10 J-J
(par $50)
Outstanding
faturity
$750,000
See text
? 1876
($1,000)
3H A-O
246,000 April 1 195C
gold
c.cptlGlrard Trust Co., Philadelphia, Trustee.
Second mtge ($1.000)-C.cpt
1886
5 M-N
750.000 May 1 1926
Free from tax.
Pennsylvania Co. for Ins. on Lives & Grant
ing Annuities, Phila
Pa.. Trustee.
First
mortgage
,
_
-
.
Bonds.—Interest
delphia, Pa.
for 50 years
on both loans payable at Land Title & Trust Co., Phila¬
The first mortgage 0s matured April 1 1906 but were extended
at 3 H % •
Due lessee for additions to Dec. 31
1919
$2,509 968
ROAD.—Trackage, 72.937 miles.—V. 108,
INTER-STATE
Financial
delay.
p.
2529; V.
109,
p.
2441.
RAILWAYS.
Plan.—Int.
V. 88.
p.
due
Feb.
1127, 1197; V..89,
arid
p.
Aug. 1909 was paid after some
348. 1141.
On Nov. 25 1910 share
holders ratified the readjustment plan (V. 91. p. 1385. 1512) calling for the
Issue of $1,000,000 6% cum. prer. stock, shareholders to take $500,000 a*
par for cash (payable In 5 installments of 20% each at Intervals of 30 days
beginning with 2 payments Jan. 2 and ending April I 1911), and bondholders
to take $500,000 at par In lieu of 1910 and 1911 coupons on bonds.
V. 91
p. 1711; V. 92, p. 59.- Entire Issue was subscribed and taken.
V. 92, p. 1032
Leases of Controlled Properties.—The leasing of the underlying companies
consummated in 1910 upon satisfactory terms
The subsidiaries ar<-
was
tn
four groups, Wilkes-Barre, Reading, Trenton and
Wilmington.
The
Wilkes-Barre Rys. Co.. the Reading Trans. Co. (succeeded by Read. Trans
& Light Co. in Mar. 1913, control of which was acquired by Eastern Power
& Light Corp.), the Trenton St Mercer County Traction Corp.. the Southern
Pennsylvania Traction and
the Wilmington & Philadelphia Traction Co
over the various properties
V. 91. p. 1512: V. 92. p
Statements for these companies will be found respectively under
Wilkes-Barre, Readirfg, Trenton and Philadelphia.
were
formed to take
261.
Tne aggregate annual
see
income under the above leases Is
as
follows
(but
remarks below);
'
1922.
778,542
788 ,542
798.542
—
on
30 days' notice.
pref.—3%—paid July 1911; same rate semi¬
annually to and incl. July 1917. Jan. 1918 div. passed (see V. 106, p. 189).
None since.
on
■
.
REPORT.—Year ending Jan. 31:
Total
Interest
Year—
Receipts
Coll Trust
.$343,921
337,840
1918-19
Exp. &
Preferred
Tares.
$310,496
323,598
■
Dividends.
$19,766
8,821
Balance.
Svrnlnn
$13,660
5.420
OFFICERS.—Pres. John A. Rigg; V.-P., Walter A. Rigg; Treas., T.W*
Grooket, Jr.;
Sec. & Asst. Treas., J. W. Goodwin.
Office 411 Market
St.. Camden, N. J.—V. 108, p. 378; V. 109, p. 477, 2357; V. Ill, p. 74,
UNITED POWER & TRANSPORTATION CO.—Electric roads.
Incorporated April 20 1899 under New Jersey laws to construct, develop
own street railways, power companies, &c., and do a general business
(V. 68. p 929).
In Dec. 1902 stock was acquired by Inter-State Rys. Co.,
which see Immediately above.
On Oct.
1
1920 owned the following stocks and bonds.
We show also
the total amounts outstanding of each issue.
and
Owned.
Stocks—
Shares.
Delaware
County & Philadelphia Electric Ry———.
Lebanon Valley Street Ry Co
Riddle &
Rockdale Electric Street Ry
—_
Roxboro Chestnut
Hill &
Norristown
Ry. Co
—
Schuylkill Valley Traction Co
—
Trenton Street Ry
Wilkes-Barre St Wyoming Valley Traction
—
.
Wilmington
Wilmington
Wilmington
Wilmington
Wilmington
St Chester Traction
City Electric
i.
& Great Valley Turnpike Co
St Philadelphia Turnpike
& Christiana Turnpike Co
STOCK St
Mar.
...
*
5.993
9.992
1.632
340
4.9'51
9.995
19,969
49.992
39,995
5.095
978
1,035
644
Tot. 3tk.
Shares.
6,000
10.000
1,640
2,600
4,968
10.000
20.000
50,000
40,000
5.100
1,040
1.200
680
BONDS.—Stock auth., $3,593,750; shares $25, full paid.
In
1902 outstanding stock was increased from $3,125,000 to $3,593,760
(V. 74, p. 682). the additional shares being sold to stockholders at $35 per
$25 share.
Bonds, 4% coll. trust certificates, are In two series, which we
have marked (a) and (b) below.
(Stock and bonds listed on Philadelphia
Stock
Exchange.)
(a) Under a trust agreement between the United Power &
tion Co. and the New York Trust Co.. trustee, dated May 1
Transporta¬
1899. and a
supplemental agreement; dated July 26 1917 there are issued $5,372,800
United Railways gold trust certificates secured by deposit of 19,953 shares
Trenton St. Ry. Co., 39,993 shares Wilmington & Chester Traction Co.,
5,089 shares the Wilmington City Electric Co. and 49,911 shares the WilkesBarre & Wyoming Valley Traction Co.
Pursuant to the supplemental
trust agreement dated July 26 1917, the amount of outstanding certificates
was reduced from $7,918,000 to $5,372,800 by acquisition by the co. and
subsequent cancellation of $2,545,200 thereof through the sale of certain
assets pledged as security therefor as follows: 79,991 shares of the United
Traction Co. of Reading and 35,800 shares of the Edison Elec. Ilium. Co.
of Lebanon, Pa., which, together with the remaining shares of said cos.
In the
West Philadelphia Passenger Ry.—Trolley.
(23)
ORGANIZATION.— Incorporated May 14 1857
the
Maturity.
$2,291,200 f. p
1,000,000
See text.
Reading & Southwestern Ry
Leased to Philadelphia
Traction Co. for 999 years from June 30 1884 at an annual rental of $285,000.
or $9 50 per share on stock, and Interest, taxes, &c.
There are outstanding
30.000 shares ($1,500,000) of stock, on which $30 83 1-3 has been paid in
STOCK AND
Outstanding.
.
Union Passenger Railway.—Trolley road.
(22)
pledged
Tne cash
was
Transportation stock.
Media Glen
ORGANIZATION.—Incorporated April 8 1864.
716.
588.
mortgages.
ROAD.—Trackage 19.508 miles.—V. 86,
collateral
p.
.
and the coupons are payable tax free; $36,000 of these are 3V$s and were
exchanged for old 7% bonds of like amount due Oct. 1 1903.
V. 77. p 695
Interest and dividends are payable at office of the Fidelity Trust Co..
the trustee of both
the
-
Stock.—Com.
1919-20
8tock $1.000.000 (par $50)
Consols ($500.000)
C.cpt
of
'J-J
Fiscal
V. 108, p. 785.
some
2238; V. 105,
1903
4 g F-A
10,776,600 Feb 1 1943
c*fInt. at Real Est. Title Ins. & Tr.. Fhila., Tr
listed on the Philadelphia Stock Exchange in
April 1903.
V. 92. p. 1243; V. 93. p. 164.
$965 020 of the old preferred
stock had been exchanged for the new up to Oct. 1 1920.
781,250.
$500 and $1.000.
$9 per share per annum; 1894 to Jau. 1897. $10 per share; 1897 to Jan.
1900. $11 per share; and from Jan. 1900 $12 per share.
Lease transferred
and
($100)
Collateral, trust
&
ORGANIZATION.—Incorporated April 8 1859.
Leased Jan. 1 1892 to
Philadelphia Traction Co. for following rental: From Jan. 1892 to Jan. 1894.
reduced
were
Compare V. 103,
AND BONDS—
$9,000,000
second
(21) Thirteenth & Fifteenth Streets Passenger Ry.—A trolley road
oelow)
Pref $1.T)00.000 ($10) 6% cum
Bonds
13.81.
Co. Oct.
Co.
received by the Interstate Rys. Co. from the sale of some of the withdrawn
collateral has been invested. V. 106, p. 86.
STOCK
Out st an ding.
3 J-J
to Union Traction
_$6,442
ments.
portation
ROAD.—Trackage
$434,209
255.437
on
Default in Rental—Dividend Passed.—Failure of the Trenton & Mercer
County Trac. Co. to pay its rentals, due to increased operating expenses,
resulted in the omission of the 1918 and subsequent divs. on the pref.
stock.
See V. 106, p. 189.
Up to Oct. 1 1920 no rentals had been paid
therefor withdrawn.
Due
Total.
$3,145
3,297
$6^3^204
road, which were then held by the Union Passenger Railway Co. as trustee
and lessee, being also transferred to the Union Co.
Stock ail owned by
Continental Pass. Ry Co
July 1
Taxes.
x252.140
Total
Traction Co. to dividends
Stock
4s.
x$431.064
must
following guaranteed dividends
has
Charges to Be Paid Out of Above Rental Plus Any Other Income,
Inter-State Railways
United Power & Transportation
Note.—The above figures do not include the Federal Income tax. which
be added thereto,
x Includes int. on 4s held in treasury as invest¬
(19) Second & Third Street Passenger Ry.
.$9.
107
Int.
debts, dividends for 1896 were continued at $10
per share instead of the $12 as noted above.
In 1897 dividends were In¬
creased to $12 per share.
Trackage 15.40 miles.—V. 108. p. 785; V. 109.
p. 73.
•■'"■■■■
1894-95.
Fixed
$28
per share paid in.
On account of some old
1893.
RAILWAYS
$808.54211925
$826,043
818.54211926 and thereafter an
|
nually——_ 830,000
treasury, were sold for a considertaion of $1,250,000 par value United
Railways gold trust certificates and $2,760,000 cash; 1.125 shares of Read¬
ing & Southwestern St. Ry., 4.925 shares of Roxborough Chestnut Hill St
Norristown
shares
Ry.. 9,975 shares of Schuylkill Valley Traction Co., 1,600
Media, Glen Riddle and Rockdale Electric St. Ry. Co., and 14,992
shares of Holmesburg Tacony & Frankford Electric Ry. (sold under fore¬
closure in 1910 and reorganized with no realization on its capital stock)
see Frankford Tacony & Holmesburg Ry. below) were also withdrawn from
collateral
for
the
trust
certificates, and
are
held
in
company's treasury.
The cash received by the company was invested
Delaware County, Ry. gold trust certificates.
V.
in United Railways and
106, p. 87..
(b) $930,750 Delaware County Ry. gold trust certificates under a trust
agreement between the United Power St Transportation Co. and the Real
Estate Title Insurance & Trust Co. of Phila., dated May 1 1899, and sup¬
plemental agreement dated July 26 1917. under which the United Power &
Transportation Co. has deposited with the said trust company, as trustee,
5.993 shares Delaware County St Philadelphia Elec. Ry. Co.
Under sup¬
plemental agreement dated July 26 1917 the amount outstanding was re¬
duced from $998,950 to $930 750 and 1,125 shares of Reading & South¬
western
St. Ry.
stock.
4,925
shares
of Roxborough Chestnut Hill &
Norristown Ry. stock. 9,775 shares of Schuylkill Valley Traction Co. stock
and 1,600 shares Media, Glen Riddle and Rockdale Electric St. Ry. Co.
stock, were withdrawn from collateral.
V. 106, p. 87.
The principal of both series (which are in $100. $500 and $1,000 pieces)
Is due at
option of holder on July 1 1949 and thereafter on any Jan. I or
July 1 at the option of the united Power & Transporatloo Co
For both
series also, the semi-annual Interest (J. St J.) and the principal are payable
In gold coin, free of tax. at the office of the Real Estate Title Insurance St
Trust Co
of Philadelphia, trustee
DIVIDENDS.—On Jan. 20 1900 a dividend of 60c. per share was paid,
also same amount July 16 1900: In 1901. Jan. 21, $1; July 10. $1; in 1902,
Jan. 20. $1; July 10. $1: In 1903. Jan. 20. $1; In 1904. Jan. 10. $2 66; in
1905, Jan. 24. $2 39: In 1906. Jan. 20. $3 10: In 1907, Jan. 24. $3 20; In
'908, Jan. 30. $.3 31; none to July 1911, when $1 10 was paid; In 1912, Jan,
30, $1 40; July 29. $1 41: In 1913. Jan.. $1 79; July. $1 26.
In 1914,
Ian.. $1 52: July. $1 40.
In 1915. Jan., $1 54: July. $1 34.
In 1010,
Jan.. $1 55; July. $1 43.
In 1917. Jan.. $1 55; July. $1 23.
In 1918.
Jan.. $1 32;
July, $1 20.
In 1919, Jan., 50c.
In 1920, Jan., $1 95.
REPORT.—
Cal.
Year—
Fnnn
Interest.
Investm'ts
on
4s.
raxes.
<^c.
Dxvidtna durp. after
Paid.
Divid ds.
$29,342
$280,312
$2,224
1918
523,963
33,288
244.375def. 11.033
OFFICERS.—Pres.. John A. Rigg; V.-P., Walter A. Rigg; Treas., T. W.
Grookett Jr.; Sec. St Asst. Treas.. J
W. Goodwin; Counsel. R ^ Jones.
General offices, 411 Market St., Camden, N. J.—V. 106, d. 1462, 2230
1919
V. 107, p.
J— -$564,019
1102. 1386;
$252,140
257,332
V. 108. p. 380;
V. 110, p. 563;
V. Ill, p. 75.
ELECTRIC
108
Owns one-half of the capital stock of the Norrlstown Transit Co.,
MUNICIPAL SERVICE CO.
ORGANIZATION.—Incorp. In Maine on Feb. 14 1912 to buy. sell and
operate public utility properties.
In March 1917 acquired control of tbe
(which see under "Oil City, Pa.").
In May 1917
Citizens Traction Co.
acquired the Youngs town A Suburban Ry. Co. (which see under " Youngsof stock and bonds, as per offer In V. 104. p.
Also controls through stock ownership the Chester Valley Electric Co.
Coatesville (Pa.), Salem (O.) Lighting Co.. Alexandria Co. (Va.) Lighting
Co. Staunton (va.) Lighting Co., and Valdosta (Ga.) Lighting Co.
The
properties are operated by Day A Zimmerman, Inc., Philadelpia,
Valuation.—The valuation of the co.'s various properties was placed at
$7,100,000, by Day & Zimmermann in .Tuiy 1920.
V. 111. p. 294.
In Dec. 1918 issued $700,000 10-yr. debentures to refund outstanding
notes (V. 109, p. 371) arid to pay for add'ns and impt's.
V. 10S, p. 171
In July 1920, the co. brought out $650,000 3-yr. 8% coupon notes to
refund $248,000 6-yr, 6% notes due Aug. 1 1920 and for add'ns & impts.
V. Ill, p. 294.
STOCK AND BONDS.
Date.
Interest.
Outstanding.
Maturity.
See text
Common $2,000,000 ($100)-$810,000
Q-J
Pref cum 6% $2.000,000(1100)
1,465,000 Nov'19.1H
Q-F
"28
10-yr deb bonds $1,500,000/ 1918
6%
700,000 Dec 1 192
N,($500 A $1,000) g
ctff 1 Red. at 101 on any int. date.
3-yr. notes ($1,000)f 1920 8 J-J
650,000 July 1 1923
c*tf [Philadelphia Trust Co., Trustee.
town. Ohio)" by exchange
Mtgef 1917
5 M-8 1
2,^81,500 Mar 1 1942
hi $20,600,000 ($500 and $1,-1 Interest payable in Boston and Philadelphia.
£000)-;
c* cpt I Philadelphia Trust Co.. Trustee.
First Lien Coll Trust
Bonds.—The 1st lien & coll. trust bonds are secured by $3,047,000 mtge.
bonds, $1,226,500 pref. stock and $2,283,100 common stock of subsidiary
companies.
Additional bonds may be issued only for acquiring and placing
under the mtge. at least an equal amount of mtge. bonds of subsidiaries now
outstanding, or, further, at the rate of 85% for those to be issued by sub¬
sidiaries for construction, but under certain earnings requirements.
Sinking
fund of 6% of net earnings of subsidiary companies after payment of operat¬
ing expenses, taxes and renewal reserves, less sinking fund payments on
present sub. co's. mtges. from Mar. 1 1918 to Mar. 1 1925, and 5% there¬
after.
Subject to call in whole or part on any int. date at 103 and int.
Additional debentures may be issued only under certain restrictions.
Tax
119978——
refund in Penna. and Mass. to amount not in excess of laws in effect at time
of issuance.
V. 108, p. 171.
Notes.—Are red. at 102 up to July 1 1921; at 101 up to July 1 1922 and
thereafter at par.
Tax-free in Penna. and Mass.
V. Ill, p. 294.
Dividends.—-6% Is being paid on pref. stock.
Initial div. of 1 % on com.
stock paid in April 1914; In 1915, 3%; 1916 and 1917, 4%.
None since.
EARNINGS.—Combined earnings of subsidiary companies (lncl. Citi¬
zens Trac. Co. and Youngstown & Suburban Ry. Co.) for cal. year:
12 Mos.—
Gross.
Net, aft. Taxes. Deprec'n.
Fixed Chgs.Bal. for Div.
1919
4601,061
$2,105,880
$118,939
$355,792
351,248
$126,330
26.014
$352,044
355,847
1918.—'— 1.692,700
473 370
96,608
Latest Earnings.—For 12 mos, ending June 30:
1919-20
$2,261,852
$602,069
$124,360
1918-19
1,847,833
514,737
106,084
$125,665
52,806
—
—
OFFICERS.—Pres., Geo. B. Baker; V.-P., Gordon Campbell: Sec.,
John E. Zimmermann; Treas., L. B. Harvey: Asst. Sec., C. A. McClure;
Asst. Treas., Jos. W. Swain Jr.
General office, Land Title Bldg., Phila.
—V. 188, p. 171- V. 109, p. 371: V. Ill, p. 294.
FRANKFORD TACONY & HOLMESBURO RY.—A trolley road.
ORGANIZATION.—Incorp. In Pennsylvania on July 11 1910 as a re¬
organization of the Holmesburg Tacony A Frankford Elec. Ry., sold at
foreclosure June 1 1910.
For terms of exchange of bonds of old company
for new company bonds, see V P1
o
276
Franchise perpetual
Fare Increase.—In Aug. 1918 filed with the Penn, P. S. Comm. a new
tariff increasing fares from 5 to 6 cents
V. 107, p. 696.
On Sept. 151920,
two zones were established with
6 cent fare in each.
a
subject to approval ofYhe P. 6. Comm.
on
This however is
Hearing was to have been held
Oct. 20 1920.
STOCK AND BONDS—
Date.
Stock $500,000 ($50)
First mortgage $500.000gold/
Interest.
1910
Outstanding.
5 g J-J
Gross
Net, after
Bond
Balance,
Revenue
Earnings. Taxes, Ac. Interest
Surplus. Passengers
$174,041
$373
$20,000 df$19,627 $2,727,681
158,977
16,238
26,000 df3,762
2,800.528
159,720
20,000
4.033
2.991.728
24,033
Cal. Year—
1919
—
—
Co. with
the Philadelphia
which
West¬
(see "ROAD" below), and the entire capital stock of the De
Realty Co. and the Interborough Electric Lt. A Power Co.
ern
Kalb
proposed line from Phila. to Valley Forge, Pottstown, Ac., of which
the Phlla. & Western Ry. Is to form the terminal trunk line, but take no
part In financing the plan
see V. 101
p
924.
In 1918 entered Into a 10-year contract with the Counties Gas A Elec.
Co. (a subsidiary of the United Gas Impt. Co.) under which the latter
supplies the company with all its power.
afUOh AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
For
Common $4,000,000
$4,000,000
($50)—.
Pref $2,000,000 5% cum
—
from
2,000,000 Oct *20, 1)4
1910
2,630.000 July 1 1960
First
mortgage
$4,000,000
gold ($1,000)——c*tf Int. at Phila. Tr. Co., Phlla., trustee, or at
Edw. B. Smith Co., Philadelphia.
The com. A pref. stocks were listed on the Phila. Stk. Exch. In May 1917.
Bonds.—Of remaining bonds $370,000 are In treasury.
Subject to call
at 102 V4 and interest on any Interest date on 60 days' notice.
Dividends.—First div. on pref. stock—IX%—paid April 15
1916;
same rate quarterly since.
fan
1
Q-J
5 g J-J
1916 ($50)—
EARNINGS.—For years ending Dec. 31:
Preferred
Balance,
Gross
Net (after Pur. of Interest
Earnings. Taxes). Equip. Charges.
Dividends.
Sur. or Def.
—1,208
1919—$732,301 $263,638 $8,400 $131,50$ ,(5%)$1N.0M st*r.$3f,
1918-.— 619,151
216,351
8,400
131,500 (5%) 1#$,$$$ def. 1$.462
Passengers carried during year ending Dec. 31 191$, 4,011,479, against
3,563,318 in 1918.
Latest Earnings.—See V. 111. p. 693.
RO A D.—Operates a high-speed double-track road 17 -33aiiles long between
Calendar
Year—
M
„
,
Philadelphia, Norrlstown ana Strafford, entirely on private right-of-way
and connecting with Phila. Rapid Transit Co.'s subway-elevated system at
69th A Market Streets, Philadelphia, and with Poms. RR. main line at
Strafford Sta.
An extension from Villa Nova lute Norrlstown was placed
in operation on Aug. 26 10*2.
In Dec. 1912 connection was made with the
Lehigh Valley Transit Co.'s lines at Norrlstown via Norrlstown Transit Co.
and a through service established between A Ilea town and Philadelphia.
Total tracks, 38.19 miles; gauge. 4 ft. 8)4 in.
85-Ib. rail; 23 passenger cars,
2 express and 3 flat cars. 1 snow plow; total, 29.
OFFICERS.—Pres., Thos. Newhall; V.-P. A Gen. Mgr.. J. L. Adams;
& Treas.i 8. Errickson.
Offices, Norristown, Pa.—T. US, p. 578,
Sec.
981, 2357; V. Ill,
p.
693.
PINE
^
BLUFF, ARKANSAS.
THE PINE BLUFF CO.
Controlled by the Arkansas Light A Power Co.
V. 108, p. 1512.
ORGANIZATION.—Incorp. Mar. 13 1912 in Ark. and owns and oper¬
ates tbe electric light and power, street railway and water supply properties
In Pins Bluff.
Franchises for street railway and electric-light system
extend to 1951; water franchise to 1947, subject to the city's right to pur¬
chase at 5-year intervals.
Fare Increase.—In Oct., 1920,
the
cash.
V,_ll L,_p._166JL
STOCK
BOND8—
Date.
Com stock, $1.000.000 ($100) ....
ANl?
_
co.
increased fares frsm 6 te 7 cents
_
Maturity.
Outstanding.
$709,990
729.469
Q-M
Pref7% cum $1,000,000($100)
First mtge $2,000,000 gold! 1912
5-6 g J-J 1,774.990
tin
ftl.000)—:
c*Ar*.tf I Int. in N. Y.
New York Trust Co.. trustee.
Preferred Stock.—Pref. as to prin. and div.; red. at 115 es 69 days
notice.
A sum equal to 15% of gross earnings must he applied to maint.,
renewals, Ac., before paying com. stock divs. and a depreciation reserve is
to be built from this charge up to $125,000.
Pref. stockholders have full
voting power.
See V. 103, p. 1119, 1413.
Bonds.—$ I 074,000 of outstanding bonds bear 6% Int.; rest 5%.
After
the first. $1,000.000 bonds are out, further bonds may be Issued only up to
85% of cash cost of impts., add'ns or exts., under restrictions.
Callable at
105 and int. on any int. date.
Sinking fund of 1% annually of bonds out
Jan. 1 1915 to 1924; IX % 1925 to 1934. and 2% thereafter.
$560,000 of
Interest.
...
outstanding_bonds are registered as tax-exempt In N Y. State under the
Debt Tax Law.
V. 102, p. 976.
Dividends.—Quarterly div. of 1$4 % on pref. stock were paid from March
1917 to and incl. Jan. 1918.
In 1918, April, 1)4%; July, 1)4%.
In
1919, Jan., l%%: and since atsame rate to and iaci.Sept. 1920.
Initial
Secured
July 11940
400,000
road connects the Lehigh Valley Transit
the
Maturity
$500,000
—
($500 and $1.000)
c»tfllnt. at Tacony Trust Co., Phlla., trustee.
bonds.—Remaining $100,000 bonds are reserved for extensions and bet¬
terments.
Bonds are not subject to call.
They are listed on Phlla. Stock
Exchange.
V. 93, p. 105
Earnings—
[VOL. 111.
RAILWAYS
ROAD.—Operates 17.29 miles of track between Philadelphia, Frankford
Brtdeaburg, Tacony, Holmesburg and Torresdale, of which 1 mile (In Phila.)
66-1 h T and 80-1h girder rails
Gauge 5 ft. 2)4 In.
28 motor
cars, 14 trail cars and 7 miscellaneous cars.
,
Is leased.
OFFICERS.—Pres. and Mgr., Meyer Schamberg; V.-P., Wm. Milnes;
453; V. 107, P- 696; V. 108, p.
Sec. & Treas., Jacob M. Vogdes.—V. 98, p.
div. of 1%
paid on common In April 1919.
None since.
EARNINGS.—For 12 mos. ending Feb. 29 1920 and Feb. 28 1919:
12 Mos.—
Gross.
Net,aft.Taxes. Oth.Inc. Bond,Ac.,Int. Bal.,Sur.
1919-20
—$607,605
$187,537
$552
$73,566
$141,523
1918-19
477,848
153.810
3.079
60,759
96,130
PROPERTY.—Generating station of 9,750 k. w. capacity, 60 miles
transmission lines; water pumping station with 2 triple-expansion service
pumps of 4,000,000 gals, capacity each; 4 wells, said to be over 800 feet
deep: 2 concrete reservoirs of over 3,000,000 gals, capacity; 52 miles of
pole lines, incl. the street railway distributing system, and 3,800 meters;
37 miles of water mains, serving 3,111 customers* meters, and 313 fire
hydrants; street railway with 9)4 miles of equivalent single-track of 70-Ib.
T rail; 21 "pay-enter''cars.—V. 103, p. 668, 1119, 1211. 1413: V. 104.
.
p.
664; V. 105,
p.
1709; V. 106. p. 397: Y. 108,
p.
1512; V. Ill,
p.
1567.
2122.
_____
TRENTON BRISTOL & PHILADELPHIA STREET RY,
PITTSBURG,
ORGANIZATION.—Incorporated in Pennsylvania as successor to the
Phlla. Bristol A Trenton, sold at foreclosure on Aug. 2 1909 to a bondhold¬
ers committee.
V. 89, p. 349, 780.
For distribution of securities of new
company by said committee to holders of certificates of deposit of predeces¬
sor company In Dec
191/1 w V
101
p.
1075.
Fares.—In Jan. 1920 filed notice with the Penn. P. S. Comm. of an in¬
crease in fares from 6 to 7 cents.
V. 110, p. 466.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock, ($50)
$410,800
1st mtge $750,000 ($1,000.? 1913
5 g M-S
413.800 Mar.
11943
$500 and $100) g—. .c*tfiUnion Trust Co. of Md., Bait., Trustee
Remaining bonds are reserved for corporate purposes.
Subject to call
as a whole on any Int. date at 105 and Int.
No sinking fund.
—
EARNINGS.—For
Year—
years
Gross.
1918
ending Dec. 31:
Net.
—$144,354
Taxes.
$21,292
25,678
170,893
$5,767
3,600
•
Interest.
$20,665
20.852
Deprec.
.——.
Surplus.
def. $5,140
8,116
def.6.890
ROAD.-Owns&nd operates 17
miles of track from Torresdale to Morrisville.
Ralls, 60 and on-ih, girder and 72-lb. T; gauge 5 ft
2 4 inches
10 passenger cars, 1 freight car, 5 work cars, 1 snow plow, 1 engine and
1 generator, 400 k.w. capacity.
OFFIOKRs —Pres.. Carl N. Martin; V.-P., John Redwood: Sec
A
Treas,, J. Elliot Newlin; Gen Mgr.. M. J. Hill, Bristol. Pa.—V, 96. n.
$54, 1158; V. 100, p. 1594; V. 101, p. 1975; V 104, p. 766: V. 110, p. 466.
CiS
*
-
~
.
"
""
'
■
*
FmTTTr^LPHlA^RAIL'WAVS
CO. —A trolley road.
Murdoch Kendrick was appointed
This road had been operated by the U.S. Ship¬
ping Board Emergency Fleet Corp. since Dec. 10 1918 under title "South¬
western Line."
No further information.
ORGANIZATION.—Incorporated la Pennsylvania on May 13 1911 a«
successor to the Southwestern Street Ry. sold at foreclosure Apr. 21 1911
V. 92. p.
1375.
*
Receivership.—On Mar.
receiver for the company.
11
8TOOK AND BONDS—
1919
Date.
Interest.
Outstanding.
Maturity.
St 3ck $400.000 ($50)
$400,000
1st mtge $400,000 gold ($500? 1911
5 g M-N 15
400.000 May 15 1941
and
$1.000)
c*tf 1 Int.atRealEst.Tit.Ins.ATr.,Phila..Trus.
Bonds are red. on any Int. date at 105 and Int.
EARNINGS.—
Gross
Net
Interest A DepreSurplus or
-
Income.
$205,420
137,073
122.431
Cal. Year—
1918
1917
1916
—
ROAD.—Owns
Philadelphia.
and
-
Income.
Taxes,
dation.
Deficit.
$645
$25,992
$6,458 def.$31,805
28,776
24.024
6,000
def.
1 248
30.866
23,646
7,000
sur.
220
operates 16
miles
of
track
within limits of
Also operates branch of Chester A Phila. Rys. Co. from Bow
Creek to Essfngton, 3M miles.
Gauge, 5 ft.2)4 In.
OFFICERS. — Pres., I. R. Slverman; Sec.. Alvin W
Benj. Wolf.—V. 92.
p.
1375; V. 100,
"PHILADELPHIA~&TWESTERN
p.
From:
475; V. 106, p. 2560.
RYTCCL
Treas.,
-
ORGANIZATION, Ac —fncorpor. June 6 1907 In Pa. as successor to
In 1910 control was acquired by a syn¬
dicate headed by Edw. B. Smith A Co., of Philadelphia and New York.
the Philadelphia Western RR Go.
KANSAS.
& PITTSBURGH RAILWAY—A trolley road.
Took
ORGANIZATION.—Incorporated June 10 1907 in Missouri.
over the Pittsburg Railway A Light Co. and the Joplin A Pittsburg Street
RR.
V. 85, p. 469.
The Pittsburg Ry. A Light Co. was incorporated in
Kansas in 1905 as a consolidation of the Pittsburg RR. and the Pittsburg
Light A Power Co.
In 1910 absorbed the Pittsburg A Kansas City Ry.
(which company had acquired the Girard Coal Belt Electric Ry.), and all
bonds of that company were retired.
Franchises in towns through which
road runs vary from 30 to 50 years and some are perpetual.
Private right
of way outside of cities and towns.
*
Fares.—In Oct. 1920 fares on the co.'s lines were 3 cents per mile in Mis¬
souri and Kansas and 3.6 cents per mile for inter-State passenger traffic.
The $1,050,000 6% gen. mtge. bonds maturing April 1 1920 were ex¬
tended for 3 years at 7 %.
In Sept. 1920 the co. applied to the Mo. P. S. Comm. for auth. to issue
$278,000 bonds to pay for necessary impts. V. Ill, p. 1183.
JOPLIN
.
STOCK AND BUNDS—
Stock common $5.000,000
Pref.
Interest.
Date.
-
.......
....
Outstanding.
$3,300,000
Maturity.
..........
rights
$2,000,000 6%
cum
from April I 1916
First
mortgage
$5,000,000
($500 A $1,000).. _g c*.tf
....
....
800.000
1910
5 g M-S
1.750.000 Mch 1 1930
Harris Trust A Sav. Bk Chic., A St. L.
Un, Tr Co.. trustees.
General mortgage $1,050,000
1913
7 A-O
1.050.000 April 1 1923
'$500 & $1,000)
c*-tf Central Tr Co of Illinois, Chicago. Trustee.
Stock.-"Pref. rights are 6% cumulative from April I 1916 and also share in
earnings aftet common has received 6%.
$95,600 have been retired.
The
rights will eventually be exchangeable for preferred stock, but as yet no
arrangement for this transfer has been made.
Bonds.-"Remaining first mtge. bon<Js are reserved for extensions and
additions at 80% of cost, but only when previous year's net earnings are
twice interest on bonds out and to be issued.
Subject to call at 103 and
interest on any Interest date on twenty days* notice.
No sinking fund.
Int. is payable at Harris Trust A Sav. Bank. Chicago; Harris. Forbes A
Co
N
Y
or any of the offices of E. H, Rollins A Sous
V 90. p 914.
General mortgage bonds were issued in exchange for debentures of 191$.
They originally bore int. at 6% and matured April 1 1920, but have been
extended for 3 years at 7%.
EARNINGS.—For calendar years:
.
.
Year—
1919
Gross.
Net (aft. Taxes.) Bond Int.
Surplus.
$806,826
$199,332
$150,500
$48,832
672,366
140.970
150,500
def.9,530
and operates 104.23 miles of track, embracing some
local street railway lines in Joplin, Mo., and all In Pittsburg, Kan. and
interurban lines connecting the two cities, and also Pittsburg with Frontenac,
Dunkirk, Radley, Franklin, Arma, Croweburg, Mulberry and Girard and
Cherokee, Mineral, Weir City, Scammon and Columbus.
70-lb. rails.
It Is proposed to extend the line Into the Lawton-Waco zinc fields, 114
miles, at an early date, and later on into Lawton.
OFFICERS.—Pres., Joseph J. Helm; V.-P., J. W. Ground; V.-P. A See.,
John A. Prescott; Treas., O. O. Snider; Aud. A Asst. Sec., E. S. Bigelow,
all of Kansas City, Mo.; Gen. Mgr., W. A. Satterlee, Pittsburg, Kan.
General office, 919 Baltimore Ave., Kansas City, Mo.
Operating head¬
quarters, Pittsburg, Kan.—V. 109, p. 2357; V. 110,p. 1289; v. Ill,p. 1183.
1918
ROAD.—Owns
——
_
Oct.,
1920.]
ELECTRIC RAILWAYS
PITTSBURGH, PA.
PHILADELPHIA
COMPANY.
ORGANIZATION.—Organized
on May 24 1884. and was
originally a
Operates under special Act of the Legislature oi
Pennsylvania (conferring many valuable
rights and privileges) granted to
predecessor, the Empire Co., in March 1871.
Franchises of the com-
natural
gas
company.
treasury of Philadelphia Co.). are held
marked
?>any and its subsidiaries, with a be classed under the
few minor exceptions,
999 years.
Its business
may
(1)
are perpetual or
following heads:
Natural Gas and
those of
lease
♦On Aug. 31 1920 the value of
owned was $71,738,701.
Oil.—Philadelphia Co., through its own lines and
cos. controlled
by it, supplies nearly all the natural gas
city of Pittsburgh and tne
manufacturing towns lying
Monongahela and Allegheny rivers.
Company controls by
in
the
the
449.847
acres
of
gas
and
ern
lands in
West Virginia
and Wett
Plttsb. & West Virginia Gas Co.
The
Philadelphia Co. of W. Va.
Chartiers Valley Gas
Company.
Equitable Gas Company.
Pennsylvania Natural Gas Co.
t^tock
$44,900,000 ($50)..
'ref stock $25,000,000 ($60)1
6% cum
(
Pref stk, 5% non-cum ($50)
1st Ref & Coll Tr M $100,-1
000,000, gold
/
Union Gas Co of
McKeesport.
Allegheny Heating Company.
Pittsburgh & West Virginia Gas Co.
During the 12
mes. ending Dec. 31 1919
company sold 35,952,733,700
ft. of natural gas and
158,974 barrels of oil.
On Dec. 31 1919 owned
controlled 1,994 gas wells and
3,695.95 miles of pipe.
Also owned or
controlled 136 oil wells.
(2) Artificial Gas.—Also controls the Consolidated
Gas and South Side
Gas companies
forming the artlfical gas department.
Pittsb.
guar.
p.
Suit Dismissed.—On
sustained.
......
Decision.—On May 25 1920 Judge
Woolley in the U. S. Circuit Court of
Appeals at Phila. reversed the decision of the Federal Court at
Pittsburgh,
which granted the co. an order for the
payment of $495,145 from the re¬
ceivers of the Pittsburgh Street
Ry. for money loaned to its subsidiaries.
Judge Woolley held that the co. had no right to seek the return
of
money
in
which It held all the stock. V. 110,
p. 2488.
Equity Proceedings.—On Feb. 13 1918 the
Equitable Trust Co.. of Wil¬
mington. Del., filed a bill in equity in the U. 8. District Court at
Pittsburgh
against the Philadelphia Company and its
subsidiaries, asking the Court
to restrain the defendants from
limiting the supply of artificial gas in Pitts¬
burgh, and bring about the payment of all matured and unpaid interest on
the outstanding bonds of the Consolidated Gas
Co.
V. 106, p. 822.
This
suit has been withdrawn and all
except $59,000 bonds of the Consol. Gas
Co. have been acquired by the Phila. Co. in
exchange for the latter's pref.
stock.
See Consol. Gas Co. of Pitts, on
subsequent
co.
page.
Re es —In May 1919 the W. Va. P. 8. Comm. auth. an
increase in rates
for natural gas, in that
State, of 3 to 5 cents per 1,000 cu. ft. for industrial
and domestic consumers. V. 108,
p. 1937.
Effective July 1 1920, gas rates
were increased from 37 cents to 47
cents per 1,000 cu. ft. V. 110, p. 2488.
In Feb. 1919 issued $10,000,000
3-year 6% notes (secured by new 1st
Ref. & Coll. Tr. M. 5s, due Feb. 2
1944) the
proceeds being used to retire
$7,000,000 534% coll. notes due Apr. 2 1919 and $1,957,000 conv.
5%
debentures due Aug. 1 1919. V. 108,
p. 579, 683. Compare V. 107, p.
2098
2188.
The stockholders
p.
1700.
of
common
on
Aug. 30 1919 approved an increase n the auth
from $44,900,(K)0 to $48,650,000.
V. 109,
stock
Compare V. 108,
p.
2630.
•SCHEDULE 'OF
CAPITAL STOCK OF OTHER
CORPORATIONS
OWNED AND POSSESSED ON SEPT. 30 1920.
Shares.
Total Issue
Consolidated Gas Co. of the City of Pittsburgh(owns stock of Allegh. illg Co.). z80,000 Common out of
Consol. Gas Co. of C of Pitts
Chartiers Valley Gas Co
Pennsylvania Natural Gas Co
Equitable Gas Co of Pittsburgh
Equitable Gas Co of Pittsburgh
Peoples Natural Gas & Pipeage Co
3.100 Preferred
x29,850 Common
20.000
"
13.927
"
5,975 Preferred
"
25,975 Common
"
"
"
Common
*'
"
26,000
15,751
Pittsburgh & VV. Va. Gas Co
37.500
"
"
37.500
22.500
do
do
22.5O0 Preferred
Allegheny Heating Co
Consolidated Traction.
Consolldaied Traction
United Traction Co. of Pittsburgh
Union Gas Co
of
McKeesport
Pittsburgh Railways Co
Pittsburgh Railways Co...
Duquesne Light Co..
J
Power Co
Pittsburgh Electric Power Co
Philadelphia Oil Co
Braddock Gas & Light Co
Seventeenth St. Incline Plane Co
Pittsburgh .% Beaver Street Ry
Equitable By-Products Co
Equitable Coke Co
Equitable Equipment Co
Equitable Sales Co
Equitable Auto Co
Equitable Real Estate Co
Equitable Towing & Transportation Co_.
Mansfield
&
Chartiers Gas Uo
Cosmos Oil Co
Moraingside Electric Street Ry. Co
The Philadelphia Co. of West Virginia..
Beaver Valley Traction Co
Ten miscellaneous companies
"
x4,751 Common
1/233.1 i7 Preferred
1/286.880 Common
"
"
"
67 Preferred
"
the shares
companies
40,000
"
4 754
60,000
50
3,050
50
"
"
"
50
"
"
50
100
"
"
"
"
50
500
"
"
2,860
480
z20,000
21.500
1,117
"
"
'•
"
"
,
"
1
"
"
Sept'20,2>4
5 g M-S
1 1944
McKeesport)
&
W.
Va.
& i
g s
Gas
1899
5 g
197,000 Oct 1
1929
f_./ Union Trust Co., Pittsburgh. Trustee.
J Interest at Mellon Nat. Bauk, Pittsburgh.
This table does not cover such
proper/.* 3s as are
on.
StocK.—Stock authorized
was
separately reported
increased in
February 1899 from $7,500,000
was 5% non-cumulative
preferred.
tock of the Allegheny Co. Light Co.
(acquired by Duquesne Lt. Co.), Cnartiers Val. Gas Co. and
the com. stock
of tne Cousolidated Gas Co.: also
by exchange the United
to
$21,000,000, of
The increase
was
which
$6,000,000
made to acquire the
Trac. stock. On
Dec. 4 1901 stockholders auth. an increase to
$36,000,000 f.nrough the Issue
$15,000,000 additional com. stock.
The increase was
mainly for the jiirpose of acquiring the shares of the Consolidated Trac. Co.
and the Soathern
Traction Co.
V. 73, p. 1112.
In Aug. 1906 authorized common stock
was further increased to
$36,000,000, mainly to provide for the purchase of
the Beaver Valley Traction Co. and
Washington & Canonsburg Ry
V.
of
82,
p
1323.
July 22 1909 $5.000,00C additional common stock was
auth. co
provide for the convertible feature of convertible debentures auth
at the
same
time,
poses
of the company.
authorized
but any
shares not
V. 88.
amount of com.
used to be available for the
general pur¬
1314; V. 89, p. 225.
On Dec. 28 1916
increased from $42,400,000 to
$44.«
issued to pay off floating debt.
V.
so
p.
stock
was
900.000, the new stock being
10I»
p. 1465: V. 102. p 68
On Apr
29 1912 shareholders voted to authorize
$25,000,000 ($50) 6%>
cum. pref. stock aud $10,000,000 conv.
debentures.
Of the new stock
$6 .000,000 was for exchange of
existing preferred stock (upon basis of
share for siyire and a cash payment to tne
company of $2 50
per share,
and
$10,000,000 for conversion of convertible debentures.
The
mainder
re¬
is reserved for future requirements.
See financial
plan in V.
94, p. 417, 488, also V. 94. p. 560.
Listed on the New York Stock
Exchange.
On Dec. 16 1918 the directors decided to issue
$7,000,000
6% cum. pref. stock, $6,506,000 of which is to be issued in
exchange for;
(a) Outstanding stock (other than that already owned
by the Phila. Co.)
of the Allegheny Heating Co. on the basis of 18 shares
($50 par) of the co.'s
pref. stock for each share of the Allegheny Co.'s stock; ana
(b) 1st M. 5s
of the Consolidated Gas Co. of
Pittsburgh on the basis of 18 HI shares
of the co.'s 6% pref. stock for each
$1,000 bond.
Under this
plan the
maximum prin. amount of the
Allegheny Heating Co.'s stock which can
be exchanged is 2,090 shares
(par $100), and the maximum prin. amount
of Consolidated Gas Co. bonds which can be
exchanged is $5,000,000.
Up to May 1 1920 the company had acquired all of the stock
and all but
$87,000 par value of bonds.
All of the $7,000,000
6% cumulative
ferred stock not issued
eral purposes of the
pre¬
used for
this
purpose
company as the directors
1914, when the original offer
for 6%
preferred stock expired,
or
is to be used for the gen¬
specify.
V. 108, p. 683.
for e<change of
5% pre¬
ferred stock
$3,966,600 had been ex¬
changed, leaving $2,033,400 of the old preferred stock
outstanding.
In
May 1916 furttier opportunity for exctiauge of stock to aud
including
July 15 1916 was given (V. 102. p. 1897) and holders of $590,950 stock
took
advantage of the offer, leaving $1,442,450 old pref. stock
outstanding.
Up
to Oct. 1
1920 $206,000 debentures had been converted Into
6% cum.
pref. stock, leaving $9,794,000 outstanding as of that
date, for the conver¬
sion of which a like amount of the
6% pref. stock is reserved.
The Philadelpnia Company stock has been listed
on the New York
Stock
Exchange since October 1886. and is also listed on the Phila.
Exchange.
See application to the N. Y. Stock
Exchange In V. 70, p. 1198, and also la
As
of March
31
"Chronicle" of Feb 22 1902.
In March 1911 stock
Bourse.
V
92. p. 729.
The Phila.Co in Jan.1908 offered to
was
guarantee 4%
listed
on
the Pari*
per an. from
Aug. 1
pref. stock of Consol. Gas Co. (entitled to 6%
cum.),
provided additional earnings be divided equally between the
two classes of
stock, but pref. uot to receive more than 6% in any event.
Holders of 75%
of the $2,000,000 pref. stock
having agreed to the proposition, the plan was
adopted.
V. 86. p. 54,605.
1907
on
the $2,000,000
Bonds.—The bonds of 1899 are listed on the Phila.
and Pittsburgh Stock
Of the $22,000,000 bonds of 1901. $6,500,000 are
reserved
take up the $6,500,000 1st coll. trust bonds
and $352,000 to acquire
pref. stock of Consol. Traction Co.
In 1918 the Brunot Island
property
which was under the lien of this
Mtge. was sold to the
Exchanges.
to
Duquesne Light Co.
and the proceeds
($4,000,000) deposited with the trustee of this
issue.
$500,000 was used for additions to the
property, and out of the bal¬
$3,434,030 bonds of this issue had been acquired and
retired up to
Oct. 1 1920. and the remainder is to be
used for the acquisition ana re-
ance
or
invested in other securities.
see V.
102,
They are free of Pa. State tax.
For security for the bonds
801.
Listed on Phila. Stock Exchange.
p.
Under a plan dated Feb. 27 1917
(see V. 104, p. 953) sinking funds
established beginning Mar. 1 and
were
May 1 1918, respectively, to retire and
cancel bonds by purchase or call,
by applying thereto each year a sum
equal
to 2% of the principal amount of such of
the $6,500,000
outstanding 1st M.
and Coll. Trust 5s due Mar. 1 1949 and of the
be made to have them listed on the N. Y.
Stock Ex. In case the bonds
are
called as a whole, they may be canceled or
kept alive, as the co. may elect.
For security for the 1st & Ref. Coll. Tr.
M. bonds, see V.
108, p. 683.
Of the $100,000,000 auth. amount
$20,000,000 have been issued and
pledged
under the $10,000,000 3-yr.
notes, $10,000,000 additional are reserved
to be issued as security for the
remaining auth. $5,000,000 3-yr. notes,
$5,000,000 are reserved to be issued against the
present properties, $9,794,000 to retire the co.'s 5% conv. debentures due
May 1 1922, and $20,359,006
to retire the
outstanding 1st M. and Cons. M. bonds.
These bonds may
also be issued par for par to retire
the outstanding funded debt of the
Duquesne Light Co.
The remainder of the auth. issue,
together with any
bonds not required for the above
purposes, may be issued for 66 2-3% of
the cost of add'ns and impts. made after Feb.
1 1919 to the gas, oil, or coal
properties of the co. and its subsidiaries, or for
85% of the cost of addn •
ana
impts. made after Feb. 1 1919 to the properties of the Duquesne
Light Co. or other subsidiary electric light and power
companies, but only
under certain restrictions.
V. 108, p. 579, 683.
The convertible debs, of 1912 are convertible into
pref. stock at any time
after Jan. 31 1913 at par.
Up to Oct. 1 1920 $206,000 had been converted.
Red. at 102 34 and int. on any int. day on 45 days* notice.
Int. payable in
N. Y. and London.
Debs, are listed on N. Y. and Phila. stock
exchanges.
"
"
"
1899
1.442.450
20,000,000 Feb
of
"
"
5-6
$13,903,000 consol. M. and coll. tr.
5% bonds were so stamped, but $339,000 1st M. and coll. trust
5s and
$981,000 consul. M, and coll. tr. 5s have been canceled
through operation
the sinking funds, leaving $5,289,000 and
$12,922,000, respectively.
Stamped bonds have been listed on the Phila. Stock
Exch., and application
will
240.000
286.9HO
"
**
$42,943,000 July'20, 1
14,509.300 Nor 20.3
5 M-9
1919
1920).
are
"
"
.
6 M-N
31
Outstanding. Last die.,Ac.
Coll.
200
4,700
Interest.
....
$15,148,000 Consol. M.«
Trust 5s due Nov. 1 1951 as
agreed to the plan.
Assenting bonds
stamped as subject to call as a whole or when drawn
by lot for tne sink¬
ing fund at 10734 and Int. for the 1st M. and 10234 and Int. for the
consols.
$5,628,000 1st M. and coll. tr. 5s and
2U.(J0U
16.000 Com., being all the stk.
50,000 Preferred "
50.000 Common "
182.260
"
"
40,020
5,000
5.000
Tr M $6.-i
Date.
tirement of additional bonds of this issue
80.000
40.000
29.850
20.000
13,927
5.975
South Side Gas Co
Cheswick
on
1921.
*
further
& i.
Feb. 14 1918 a test suit in
equity was Instituted by
bondholders of the United Traction Co. to
compel the company to recognize
liability for the principal and int. of all bonds issued by subsidiaries In
the
street railways system.
V. 108, p. 879.
On April 10 1919 Judge Chas. P.
Orr in the if. S. Dist. Court at
Pittsburgh dismissed this suit.
V. 108, p.
1611.
The bondholders' committee
appealed, but the decision of the lower
amount
second lien
bonds of other
coll./ 1913
6 g A-O
450,000
See text
tr $1,500,000
($1.000)c+.tf lint, at Onion Tr. Co.,
Pittsburgh trustee.
Equitable Coke Co notes g\ 1919
6 g J-D
900,000
Serially
guar p & 1 by Phila Co
/S300.000 due semi-ann. to Dec. 1
The
Default and Subsequent Payment
of Interest on Subsidiary Co.'s Bonds.—
See Pittsburgh Rys. below.
Also Consolidated Gas Co. of
Pittsburgh.
On July 1 1918 the bondholders of the
United Trac. Co. filed a petition in
the U. S. District Court at
Pittsburgh asking that the Phila. Co. and the
Pittsburgh Rys. Co. be jointly held responsible for payments due on
United Trac. Co. 5% bonds.
V. 107, p. 83.
In Mar. 1920 the U. 3
Circuit Court of Appeals refused to hold the
co. liable for int. on thes
bonds.
V. 110, p. 1290.
a
a
c*&r*tf(
.
1st mtge guar p
In 1912 the company made an
adjustment of its accounts and relations
with the Pittsburgh
Railways Co.
It sold to the Pittsburgh Rys. certain
stocks of street
railway and traction cos. Included In the Pittsb. Rys. Co
system (bopk value,
$8,265,000), and also turned over to the Railways Co
the bills payable of that co. and of certain
underlying cos. (book value, $10,649,052) held by the Phila. Co.
In return it received $10,000,000
par value
6% debentures of the Railways Co.; interest on these
debentures is payable
only If earned and is non-cumulative.
See report for year end. Mar. 3J
1913 in "Chronicle" of May 24 1913.
page 1499
In July 1916 the
Equitable Coke Co. purchased from the Allegheny Coal
Co. all its operating coal
properties. Including over 3,000 acres of coal land
In Allegheny
Co., and equipment, in order to insure the coal supply re-
by the Phila. Co., to effect the purchase.
Ool
Onion Gas Go
other issue of coll. trust
bonds; now owns $24,555,000 of the com. stock
See statement of United
RyB. Investment Co. under San Francisco and also
V. 82. p. 393, 988.
power.
&
ist
g
(3) Electric Light A Power.—The Philadelpnia Co. controls
through stock
ownership the Duquesne Light Co. which forms the electric
light and
power division.
See statement on a
subsequent page.
(4) Street Railways.—These comprise about 657 m. of
track, all operated
(as a matter of convenience and
economy) by the Pittsburgh Railways Co.
(except the Clairton St. Ry., Co., the Beaver
Valley Traction Co. and the
Pittsburgh & Beaver St. Ry. Co., which are
operated separately).
In Feb.
1902 acquired the elevated railroad
franchises which were
granted to Messrs. Bigelow, Oliver,
Quay and others.
V. 74, p. 478.
In Feb
1906 the United Rys. Investment Co of San
Francisco acquired
control through purchase of
$21,000,000 of the common stock, paying for
the stock acquired partly in its own stock
and partly in an issue of its coll
trust bonds
in April 1907 acquired
$3,200,000 more of the stock by an
loaned to
and
2,727.000 Mch 1 1949
500.000 g ($1,000) c*_-tf\Maryland Trust
Co., Baltimore, Trustee.
Phil Co con M & col tr $22.-1 1901
5 g M-N
14.167,000 Nov 1 1951
000.000 g ($1,000)
c*tf\Concinental Trust Co., Baltimore, Trustee.
Conv deb $10,000,000
gold/ 1912
5 g M-N
9.794.000 May 1 1922
($1,006 or £205 15s.2d)c*tf\New York Trust Co.. N
Y
trustee
Phila Co 3-year secured
notes/ 1919
6 g Fl-Al
9,580.000 Feb
11922
$15,000,000 ($500&$1,000){
Union Trust Co., Pittsburgh, Trustee.
cu.
Suired by Coke Phila. Co.'s subsidiaries for 5% gold notes,
the Co. issued $1,500,000 3-year production of
quitable
com
.Phil Co
or
was
stocks
•SECURITIES OUTSTANDING (AS OF AUG.
STOCK AND BONDS—-
oil
Pennsylvania.
In
1913 the
pur
chased the Monongahela Natural
Gas Co. by the issue or
$1,500,000 coll
trust notes (see
below). The principal natural gas companies
controlled are:
court
security for the collateral trust
z.
number of
a
consumed
along
as
bonds of 1901, and these latter
bonds are also
Its
or
109
Ail of the above shares marked
thus, z, are in the hands of the Mary¬
land Trust Co., trustee under the first
mortgage, and collateral trusts
dated March
1
1899.
Those marked y (with the
exception of 39,646'
shares Consol. Tract, common and
157 shares Consol, Trac. pref. held in
i
V. 95, P. 891. 1473.
Three-Year Secured Notes.—Are secured by a pledge of $20,000,000 1st
& Coll. Trust M. 5s due Feb. 1 1944, being in the ratio of 200%
of bonds pledged to the face value of notes outstanding.
Additional notes
Ref.
be issued only when secured by 1st Ref. & Call Trust M .5s in a like
Sinking fund provides that $400,000 per annum be applied to the
retirement of these notes by purchase or call.
$420,000 have been so retired.
Should the additional $5,000,000 of notes be Issued the amount applicable to
the retirement of these notes is increased to $600,000 p. a.
Fully registered
notes are issuable only in $1,000 denom.
Red., all or in part, on any date
upon 60 days' notice at 101 and int. prior to Feb. 1 1921; and at 101M and
int. on and after Feb. 1 1921.
Free from Penna. State tax.
Interest is pay¬
able in New York, Boston, Chicago and Pittsburgh.
V. 108, p. 579The Pittsburgh & W
va. cull, trust 6s mature $150,000 each Oct.
I
from Oct. 1 1914 to Oct. 1 1928 Incl.
No s. fd., but subj, to call, any part
or all
on any Int. date at par and int. on 30 days' notice
Guar. p. A I. n*
Philadelphia Company.
$1,050,000 retired and $150,000 are owned by
may
ratio.
Phila.
the
Co.
-
y
•
.
02- 09. '10. '11. *12. 13
5
None
4
5
5»4 6% y'h
7
7
6H
7
The foregoing divs. are for the com. stock.
The old 5% non-cum. pref
was created iD 1899, and first semi-ann. pavm't of 2H % was made In Sent
1899 and have been regularly continued since then.
1st dlv. on new 6%
cum. pref.—3%—paid May 1
1913: same amount semi-ann. since to and
incl. Nov. 1920. On com. in 1914. Feb., 1 *4 %; May. l«£%;Aug., \lA%0
The Nov. div. was paid in scrip bearing int. at 7%.
The Feb. 15 1915
div. was also paid in scrip (V,. 100. p. 141).
Both series of serin were calleo
for payment on Feb. 1 1916 at par and int. V. 102, p. 345.
In May 1915
a cash div. of 1V4 % was paid; Aug.. 1 H %: Nov.. 1 Xt, %
In 1916. 6?4%
In 1917, 7%.
In 1918. 6%.
In 1919. 6%.
In 1920, Jan., 1>*%; Apr..
DIVS.—
I
*95. '96. '97. '98. '99. *0u, '01.
\
Percent
i^%; July, IH%\ Oct.,
iy2%.
,
Pennsylavnla
1729.
Linear Tax Decision.—For decision of Supreme Court of
declaring the linear tar ordinance invalid, see V. 80. p.
Application Denied.—Attorney-General Todd of Pennsylvania on Oct.
24 1907 denied the application of city authorities of Pittsburgh for permis
«lon to bring ouo warranto proceedings to forfeit the company's charter
•ee
The company
REPORT.—Report for cal. years 1919 and 1918 and years end. Mar. 31:
(Philadelphia Co.. Equitable Gas Co., Monongahela Natural Gas Co., Pitts¬
Philadelphia Co. of W. Va. and the
Philadelphia Oil Co.)
Transactions between cos. eliminated.
Fiscal year
changed in 1918 to end Dec. 31.
Report for 12 mos. ending Dec. 31 1919 in
burgh & West Virginia Gas Co., The
110,
p.
to recommend fare rates
P. S. Comm. fixed
$62,500,000
the West End Traction lines, which were
and operate
per annum.
See V. 81, p
778.
The following stocks (being in each case the
preferred stock of United Traction Co. of Pittsburgh,
stock of Allegheny Bellevue & Perrysvllle Ry. Co
Allenport & tioscoe Electric St Ry. Co.
Ambridge Dixmont & Emsworth St.Ry.Oo.
**.'
"
Ben Avon & Emsworth St. Ry. Co.
Cedar Avenue St
Ry. Co.
Clalrton Street Ry. Co.
East McKeesport Street Ry. Co.
Mt. Wasningtou Street Ry. Co.
Pittsburgh Canonsburg & Wash. Ry. Co-
6.000
common
"
J 20
2.000
"
"
"
"
$5,116,156
a2,405.997
"
Total Income
1,868,606
457
2,119,029
406
200,976
386.566
$5,450,470
2,030,163
650
693,275
$8,651,540
$8,954,651
$8,174,558
"
$21,558
2,097,992
1,269,307
381,113
$22,047
$23,086
1,796,499
1,215,180
153,497
200
Interest on bonds, &c—
New wells, lines, &c
Depreciation of property
Discount, taxes, &c., on
'securities sold
24
20.000
Approp. for sink. fundTotal
480
500
on
Div.
on
1,207,583
282,633
$3,481,212
$3,960,367
$4,465,826
$4,214,191
74,076
74,076
476,644
477,519
pref. stocks1,015,084
com. stock..(6%)2,576.434 (6)2,576,364(6^)2898427 (7)3,005,772
$4,124,952
$4,829,699
74,076
476,743
$3,665,570
$3,127,183
$3,450,022
$1,702,516
$764,169
$909,334
Results of that co. for
end. Mar. 31 1917 were: Gross, $368,527; total net income, $254,638;
deductions, $71,448; divs. (5%), $100,050; surplus, $83,139LATEST EARNINGS.—For 8 months ending Aug. 31:
-Gross-
Department—
1920.
1919.
$9,534,863
$7,797,914
.469,830
396,506
Plane
St.
Co.a
$2,807,211
68,308
$2,820,632
126,568
•
26,391
276
4,923
Philadelphia Co. & sub.
natural gas cos.a
10,043,874
1,177,619
Philadelphia Oil Co_a__
8,441,565
784,575
3,996,742
660,209
5,667,914
923,868
Net earnings here given are after the deduction of taxes.
a
Note.—The above earnings do not include income from investments,
and is before providing for interest on debt and other income deductions.
OFFICERS.—James D. Callery, Chairman of the Board; A. W. Thomp¬
Pres.; James H. Reed, V.-P.; C. J. Braun Jr., Treas.; W. B. Carson.
Mitchell, Comp.; A W. Hurlbart, Gen. Mgr.
Office, 435 Sixth
son,
S ec.; C.S
Ave., Pittsburgh, Pa.—V. 108, p. 2429, 2630; V. 109,
2263 2357; V. 110, p. 78, 770, 1290, 1849, 2076, 23821
p.
389.
|
(1)
173, 1180
§398,
1700
2488; V-
111'
*
STREET
,
p.
^°8,
to meet maturing obligations
danger of the system being dismembered by
bondholders of the underlying corporations.
V. 106
p
1797
In March 1920 the receivers applied to the U. S. Court for auth. to
pur¬
chase 150 new care at a cost of about $2,000,000,
through the issuance of
receiver s certificates secured by a car trust
covering the new cars and cer-
^&t„eoac?rr920.US0'
Suit
of Foreclosure.—-The
Authority had not been
V-U0.P.
JCJnion.Trust Co.,
as trustee for the $4,000,000
1st M. coll. tr. 5s of the old Southern Traction Co.. was auth on Mav "4
1919 by Judge Cnas. P Orr in the U. S. Dist. Court to foreclose and to
take
the lines (embracing all lines to the West End) out of the
receivership and
operate them separately.
Both the city of Pittsburgh and the receivers
opposed this petition.
.
V. 108.
p.
2331.
J.
Compare V. 108
company failed to pay the Jan
1
1918 interest on the bonds of a number of subsidiaries and the directors of
the Philadelphia Co., which was already a creditor of the
Railways Co for
coupons,
In
to
make it further loans.
All
the
Jan
1
1918
except^on^the United Traction 5s, were paid in March 1918.
We have been officially informed that on Oct. 1 1920 the
company
default in the payment of interest on the bonds of the
Due
Jan.
We give in each
1
1919.
Due
Apr.
1
1918.
the eirliest coupon
Due
United Trac, Co. of Pittsburgh
Southern Traction Company.
case
,
Co.
Loop.—On July 8 1919 voters of Pittsburgh authorized
$6,000,000 bond issue for the construction of a down-town subway loop.
•
Compare V. 108, p. 2330.
109, p. 371.
Over-crowding Ordinance.—On Feb. 7 1911 Common Pleas Court No. 1
a
decision restraining city from entering or prosecuting any suit
so-called over-crowding ordinance, enacted July 30 1910. V.92. p. 463.
-nderea
upou
Decision.—For decision by Pa. Supreme Court, holding that city cannot
use of Point and Smlthfield St. bridges, see V. 96. p. 1090.
Decision.—In July 1918 the Penna. P. S. Comm. held that the
does not auth. municipalities, through contracts with
constitution
railway
cos., to
decision
co.
take
from the people the right to regulate fares.
This
case of the Borough of Wilkensburg against
away
handed down in the
was
based
on
its notice of proposed increases in rates.
See also V. 109. p.
477; V. Ill,
p.
V. 107, p. 402.
1370.
Fares.—On May 19 1918 the receivers announced the establishment of a
new fare schedule which went into effect on June 20 1918, providing for a
longer routes and a universal 10-cent night
this schedule see V. 106, p. 2650, 2758.
Increased fares to 10 cents, tickets being
V. 108, p. 2630.
See also V. 110. p. 1290.
On Aug. 15 1920 ticket fares were raised from 7)4 cents to 8 1-3 cents
(3 tickets for 25c.).
Cash fares remain at 10 cents.
V. Ill, n. 990.
Rates.—In Sept. 1918 filed with the P. S. Comm. a new schedule provid¬
ing for increased power rates effective Dec. 17 1918.
Wages.—V. 109, p. 677, 888, 982; V. 110, p. 1415, 2568.
7-cent day fare on some of the
fare.
For complete details of
Effective
1 1919. the co.
sold at the rate of 4 for 30 cents.
Aug.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Oct.
1
f 1911
5 M-S
54.000
See text.
($1.000)-(Int. at co.'s office.
Fidelity Title & Trust
tf I
Co., Pittsburgh. Trustee.
1913
6 M-S
191.000
See text
$450,000 ($1.000) .(Int. at co's office. Fidelity Title & Trust Co..
tf 1
Pittsburgh Trustee.
$110,000 ($1,000). \ 1916
5 A-O
66.000
See text
/Colonial Trust Co., Pitts., Pa., trustee.
Oar trusts $270,000
Oar trusts
Oar trusts
bonds.—Of the gen. mtge. bonds, $4,000,000 are to
retire Southern Trac
$13,431,000 (of which $3,461,000 In treasury) are for extens.
and improvements.
V. 97, p. 444, 666.
Are guarante
principal and interest, by Philadelphia Co.
Philadelphia Co. owns $571,00
of Gen. M. 5s outstanding and the $10,000,000 income debentures. Car
trusts of 1911 mature $27,000 annually Mar. 1 1913. to 1922. $216,000 have
been retired. Car trusts of 1913 mature Mar. 1 1914 to Sept. 1 1925 incl.
$259,000 have been retired.
Car trusts of 1916 mature $11,000 annually
April 1 1917 to 1926»
$44,000 have been retired.
bonds and
betterments
was
ju default
1918.
Pittsburgh Rys. Co.—Gen. Mtge.
Date.
West Liberty & Sub. St. 1st I
I
M $250,000 ($1,000) g—tff
Interest.
Outstanding.
Maturity.
Jan 1 1938
5 g J-J
$2.50.000
Int. at Colonial Tr. Co., PIttsb., trustee.
1908
.
Debt of Old Southern Trac. Co
So Trac 1st M. coll tr, g,
000,000
West End
($1.000)
Traction
$4.-/1900
4
5 g A-O
4.000.000
Oct 1 1950
c*.tf)Int. at Union Tr. Co., Pittsburgh, Trustee.
gen
M,f
1898
5 J-J
981.000
Jan
1
1938
$1.500.000
tf l Int. at Union Tr. Co., Pittsburgh, Trustee
Underlying loans of West End Traction—
Pittsburgh Crafton & Mans-/ 1894
5 J-J
176.000 July 1 1924
field 1st M
tf\ Int. at Pittsburgh Trust Co., Pittsburgh.
Pitts & West End 1st M—tf
following sub¬
sidiary companies.
Ry.
United Trac. Co. of Pitts, and their underlying companies.'
Slreet Car Subway
a
Guaranteed bonds-
Default—Subsequent Payments.—'The
large amount, refused
Street
By the terms of an operating contract, effective Jan. 1 1902, the Pitts¬
burgh Rys. Co assumed control of all the properties of the Consolidated
1512
Talk of Reorganization.—It was reported in Oct. 1920 that initial steos
preliminary to the reorganization of the co. were being taken, but nothine
definite regarding the program to be followed had been
announced up to
time of going to press.
See V. Ill, p. 1567.
a
Co.
Blair Street Ry.
&
Run
stock of the Consolidated Traction Co.
stock. $2,500,000. .($50)
$2,500,000
$2,500.000(150)
2.500.000
Geo mtge. $20,000,000, red)
1913
5A-0
2.539.000
1953
at 105 & int guar p & i-.tfj
Guaranty Trust'Co., N. Y., trustee.
Income debs. $10.000,000—tf 19J3
10,000.000
aPPoi,nted
beLn?Jdie?ued that r®venuj« were insufficient
was immediate
pref
Pref. 5%.cum.
'
receivers for this co. upon application
of the American Brake Shoe & Foundry Co. and the St. Louis Car
Co.. it
and that there
Ry. Co.
Com.
RAILWAYS.
Pittsburgh Railways Co.—A trolley road.
p; ?u77i
Pine
100 shares
owns
Trac. Co., the
tne
Incline
28,439
Clalrton
120
State
Beaver Val. Trac. Co.a_
Co.
& Suburban St.
Rocks & Allegheny Street Ry.
Bon-Air Street Ry.
168
Also
Fare
1919.
1920.
elec. lt. & pow. cos.a.
Bridge
West Liberty
McKees
collect tolls for
-Net-
Duquesne Lt. Co. & sub.
Seventeenth
Carnegie
120
Income from oil In 1916-17 is included in "Divs. and int. received" in
a
the form of dividends on stock of the Phila. Oil Co.
year
.
Pitts. Banksviile & Mt. Lebanon S. R. Co.
160
V.
*
•
i
&
Valiey Tract. Co.
Crafton
100
$3,556,492
$204,546
Surplus for year
Ohartiers
120
400
57,500
235,450
162,000
154,236
Virginia Avenue Street Ry. Co.
McKees Rocks & Ingram St. Ry. Co.
McKees Rocks & Neville Isi. St. Ry. Co.
120
174
$4,781,423
$3,870,117
74,052
Total
400
300
366,667
„
Balance for year
Consol. Gas guaranty..
Div.
2,131,86#
177,086
177,895
356,479
Interest, discount, &c—
Superior Ave. & Shady Ave. St. Ry. Co
Tustin Street Ry. Co
Washington & Canonsburg Ry. Co.
Washington & Claysville Street Ry. Co.
West Shore Electric Street Ry. Co.
80
693
424,192
Deduct—
Paid leased companies-
Pittsburgh Express Co.
Pittsburgh & Charlerol St. Ry. Co.
Rosslyn Street Ry. Co.
1,400
60.000
$7,947,038
$131,428
2,325,029
1,078,678
523,142
—
<.590
4,093,992
$6,448,649
—
entire issue) are owned
shares common stock of the West End Traction Co.
preferred stock of the West End Traction Co.
common stock of United Traction Co. of Pittsburgh,
60,000
50.000
340.000
68.999
80
$6,581,501
Interest, discount. &c_.
99 years, rental being
f 15,000
$9,210,148
Rents
being
purchased In Aug. 1900
Leases the Pittsburgh & Castle Shannon RR. for
$13,774,500 $13,109,967 $11,332,440
Operations, taxes, &c._7,192,999
6,661,318
5,881,970
Divs. and int. received—
the value of the co.'s property, this
for $4,500,000.
"
-
as
compromise between the above mentioned valuations.
V. 110, p. 1290.
appeal to the Superior Court of Penna.
This was formerly the Southern Traction Co., but In accordance witn cne
authority vested in it by the terms of Its charter, the directors of the South¬
ern Traction Co. on Dec. 30 1901 voted to change the name of the company
to the Pittsburgh Railways Co.
The Philadelphia Company had previously
acquired all the stock, common and pref., of the Southern Traction. In
accordance with the terms in V. 73, p. 1112.
The Southern Traction Co. was chartered In 1900 to take over, extend
a
The city, however, has taken an
6.000
earnings-..-
1918 the P. S. Comm. appointed
physical valuation of the co.'s properties and
yield it a fair return on Its investment.
which will
In Aug. 1918, under
orders from the P. S. Comm., the receivers ap¬
pointed a board of three (A. J. Kelly, Henry P. Haas and J. W. Cree) to
the valuation. V. 107. p. 697. According to the report to the P. S.
30.000
Net
Pitte-
of
maxe
600
earnings."..
Co.
Traction
V. 108. p. 785.
Created.—In March
Valuation board
committee to ascertain the
a
38.536
Gross
United
See
have been called for.
(a)
$13,774,500 $13,109,967 $11,332,440
Co.
& Coll. Tr. 5s.—T. H. Given,
R. Welsh, and R. S. Wilson.
-ec'y.
Depositaries: Union Trust Co., Pittsburgh, Pa.; Farmers Deposit
Tru-t Co., Pittsburgh, Pa.; Fidelity Trust Co., Philadelphia, Pa.
Deposits
$9,171,612
gas
Miscellaneous.-
1920.
Committee for Southern Trac. Co. 1st M
H. C. McEldowney, Jas. C. Chaplin, F.
'*
From oil
1
Wash. & Canonsburg Ry.
byiricli 1)6 low.
1916-17.
1917-18-
July
Due
Due Apr. 1 1919.
Morningside Elec. St. Ry.
bondholders' Protective
Committee.
300
Cal.Yr. 1919. CaLYr.1919.
the following and subse¬
subsidiary companies:
Nov. 1 1918.
Consolidated Traction Co.
Due
2382.
Receipts—
From
is also in default in the payment of
quent rentals due
V.85,p. 1083.
V.
[Vol. 111.
ELECTRIC RAILWAYS
110
bonds.—The
Southern
Philadelphia
National
Bank
maturity.
osit
P„c
Oct.
1900.
See V.
1892
Traction
Company
of
71, p.
343.000
5 J-J
be
July
1 1922
before
Deoffered
the
bonds
for
sale
Of the portion of the 5s of 1898 of
mortgage
owns
cannot
$126,000.
The
called
Farmers'
Pittsburgh
864.
the West End Traction still unissued. $519,000 are reserved to retire under¬
Bonds of the West Liberty & Sub. St.
lying bonds.
Pitts. Rys. Co., they are not subject to call, and have
are
no
guaranteed by
sinking fund.
Oct., 1920.)
ELECTRIC RAILWAYS
ANNUAL REPORT.—All companies owned, controlled and
operated by
Pittsburgh Railways Co. for cal. year 1919 and 9 mos. ending Dec. 31 1918.
1919.
1918.
19197
1918.
$
$
Gross earns.>16,487,625
Net (aft.taxes) 1,995,522
$
$
10,979,416 Interest
621,975
1,483,588 Rent.l's'd line 2.817,806
83,115 Misc., &c
1,524
470,454
2,115,190
1,184
Other income.
141,311
Total income. 2,136.832
-Q--1.566,703 Balance, def_> 1,304,473 1,020,125
Latest Earnings.—See Philadelphia Co. above.,
ROAD.—The Pittsburgh Railways Co. operates 603.08 miles of tract In
Pittsburgh and outlying boroughs.
Equipment consists of 1,464 closed
.r
cars, 260 open cars and 248 miscellaneous cars.
Has
with Duquesne Light Co. for supply of light and power.
OFFICERS.—Chairman
Board, J. D. Callery; Pres., Arthur W.
Thompson; V -P., J. H. Reed; Gen. Mgr., P. N. Jones; Sec., W. B. Carson;
Treas., C. J. Braun Jr.; Comptroller, C. S. Mitchell.—V. 110, p. 1415,
1749, 1849, 1974, 2388, 2568, 2658; V. Ill, p. 74, 295, 793, 990.1370,1567.
Mount Washington Street Ry.—A trolley road.
(a)
ORGANIZATION.—Incorporated in, Pennsylvania on Oct. 8 1901 and
later absorbed the Sycamore Street Ry.
Also owns the entire ($500,000)
capital stock of the Mount Washington Tunnel Co.
Stock of the Mount
Washington Street Ry. is owned by the Pittsburgh Rys.
The road Is
leased to the Pittsburgh Railways Co. for 995 years from April 1 1903 for
all charges, including bond interest.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Stock, $1,500,000 ($50)
$1,500,000
1st
mortgage
and
col
tr.f 1903
5 g A-O
1.500,000 April 1 1933
$1,500,000, gold ($1,000),] Penn. Co. for Insurances on Lives 8c Grantguar. prin and Int
c*_tf I
log Annuities, Philadelphia, Trustee.
Bonds are guaranteed, principal and interest, by endorsement, by the
Philadelphia Co.
Interest payable in New York, Pittsburgh and Phila¬
delphia.
No sinking fund and bonds cannot be called.
The stock of the
Tunnel Co. has been pledged as collateral under this mortgage.
See
V. 76. p. 1143.
—
-
......
ROAD.—Operates 12.765 miles of track from Pittsburgh to Mount
Lebanon.
Gauge, 5 ft. 2X Inc.—V. 80, p. 222; V. 108, p. 379.
(b)
Washington
Canonsburg
&
Ry.—A
trolley road
Default and Subsequent Payment.—See Pittsburgh Railways above.
Stock ail owned by Pittsburgh Rys.
ORGANIZATION.—Incorporated in Pennsylvania on June 2 1902.
Washington Electric Street Ry.
In Jan.
Pitts. Rys. began operating the property.
Franchises perpetual.
Leased In 1907 the Pitts. Canonsburg & Wash. St. Ry.
Successor on June 2 1902 to the
1909
STOCK AND BONDS—
Date.
Interest
Outstanding.
Maturity
$1,000,000
1897
5g
125.000 Feb
11927
$650,000/ 1902
5 g J-J
465,000 July 1 1932
c&r tf lint, at Colonial Tr. Co., Pittsburgh, Trustee
Stock $1,000,000 ($50)
Wash Elec 8t Ry 1st
First
mortgage
gold
Second
mortgage
5 J-D
$500,000/ 1913
16.64
miles in and between Washington, Tylerdale
348; V. 88, p. 626; V. 106, p.. 88
and Canonsburg.—V. 85. p. 632; V. 87, p.
Pittsburgh Canonsburg & Washington Ry.
Default and Subsequent Payment.—See Pittsburgh Railways above.
(c)
ORGANIZATION.—In 1907
8c
was leased for 30 years to the Washington
Canonsburg Ry.. which guarantees bonds, principal and interest.
Date.
STOCK AND BONDS—
Interest.
Outstanding.
Maturity.
Stock (1,590 shares, all owned by Pittsburgh Rys.).
f 1907
5 J-J
$750,000 July 1 1937
$760,000 ($1,000; gold/ Safe Deposit Trust Co.. Pitts., trustee.
Int
1st M.
tf I
at company s
office. Pittsburgh.
mtg $500,000
($l,-f 1913
5 J-D
89,000 Dec. I 1943
000); red at 102 & int on^Int. at office of co., PIttsb., or Safe Deposit
10 weeks
notice
tf I
8c Trust Co., PIttsb., Trustee.
Bonds.—1st mtge. bds. are redeemable at 105 and int. on any int. date;
guar., p, & i., by Washington 8c Canonsburg Ry. and Pittsburgh Rys.
Second mortgage bonds outstanding are owned by Pittsburgh Rys. Co.
Second
ROAD.—Operates
12-02 miles of track between Canonsburg
Castle Shannon.
80-lb. rails.—V. 106, p. 87, 1231; V. 108, p. 2630.
and
(d)
Other Controlled Properties.—Bonded debt.
Under date Dec. 1 1913 the following named companies controlled by the
Pittsburgh Ry. Co., as shown above filed mortgages to secure issues of
1st M. 5% gold bonds (Int. J. & D.c*tf) due Dec. 1 1943 (par $1,000) but
callable, all or part, at 102 and int. on 10 weeks' notice.
The outstanding
amount, in each case is owned by the Pittsburgh Rys. Co.
Total Auth. Total Issued.
Trustee.
$40,000
$39,000
Col. Tr. Co.. Pittsb
....100.000
45.000
Col. Tr. Co., Pittsb
West Shore Elec. St. Ry. Co...-.100,000
85.000
Col. Tr. Co., Pittsb
Superior Ave.& Shady Ave.8t.Ry. 65.000
65,000
Col. Tr. Co., Pittsb
Allenport 8c Roscoe Elec. St. Ry ..500,000
127,000
Union Tr. Co.,Pitts
Name of Company—
Cedar Avenue St. Ry. Co.
Bon Air Btreet Ry. Co
(2)
United
Traction
ORGANIZATION,'—Incorporated on July 27 1896, and in June
Manchester through a lease for 950 years and the purchase of its stock.
V. 65, p. 27.
The Federal St. 8c Pleasant Valley Passenger Ry. Is controlled
In 1902 leased
Pittsburgh & Birmingham Traction Co., East McKeesport Street Ry.
through its lease for 950 years to the North Sloe Traction
and the Pittsburgh 8c Charlero! Street Ry.
In March 1899 the Philadelphia Co. offered to give $6,375,000 of its com¬
mon stock in exchange for the $!7,000,000 common stock of the United
Traction.
See V. 68, p. 479
In Oct. 1899 exchange of stock under this
flan was begun and all shares have been acquired and are now owned by
Ittsburgb Railways.
On Jan. I L902 the Pittsburgh Railways Co. took over this property,
and, under the terms of the operating contract, agrees to pay current divi¬
stock.
The agreement was until Jaa 1 1907 and
thereafter until terminated by three months' notice from either party.
The Jan. 1915 and subsequent divs. ou the pref. stock were passed.
In
Feb. 1917 the management offered to each pref. shareholder of the United
Traction Co. 66 2-3% of his holdings In a 5% mortgage bond of the Pitts¬
burgh Rys. Co.. to be guar., p. 8c I., by the Philadelphia Co.; or, as an
dends of 5% on the pref.
proposition, $25 in cash for each share of stock (par $50).
665, 1389.
59.029 shares were acquired.
alternate
Pref, cum, $3,000,000 ($50)..
United Trac gen
in,
gold,/
...
1897
$10,000,000 <$J,000)..c*tflMaryland
♦
V. 104,
Interest.
Outstanding. 1Ho.or Mat
J-J
*$17,000,000 July"L2M%
5 J-J
3,000,000
See text
5 g J-J
4.804,000 July 1 1997
Date.
STOCK AND BONDS—
Com stock, $17,000,000 ($50)
Trust Co.,
Baltimore, Trustee.
Interest is
payable in New York City.
Pitts Aileg 8c. Manchester..tf
5
1.500,000 Oct
1 1930
Second Ave Trac mtge, gold/ 1894
- 5 g J-D
2.026.000 Dec 1 1934
($1,000)
__e*_tflMaryland Trust Co.. Balto.. Md., Trustee.
Interest at Browo Bros. 8c Co.. N. Y., or A.
2d Ave Traction Co mtge
Loans
*
payable Dec 31
tf
1893
1919..
5 J-J
,
"
Brown & Sons. Baltimore.
419,000 July 1 1933
—.....
1,585,671
United
Traction receives
the entire earnings of the
North
Side
Pitts. A. 8c M. and Second Ave. traction companies, subject only to annual
charges of $259,800.
Bonds
are
are reserved to
listed on the
retire the divi¬
Philadelphia and
ROAD.—Controls 238.36 miles of track in all.
REPORT.—Not
now
operating
an
company
OFFICERS.—Pres., A. W. Thompson; V.-P., J. H. Reed; Sec., W. B.l
Carson; Treas., O. J. Braun Jr.; Comptroller, O. S. Mitchell,
Office, Pitts¬
burgh, Pa.
Financial agents, Alexander Brown & Sons, Baltimore, Md.—
V. 107. p. 83; V. 108, p. 685, 785,1614,1938, 2023; V. 110, p. 1291.
LINES CONTROLLED BY UNITED TRACTION CO. OF PITTS.
(a)
Federal Street & Pleasant Valley Ry.—Trolley.
Default and Subsequent Payment.—See Pittsburgh Railways above.
ORGANIZATION.—Incorporated Feb. 20 1868, and has since consoli¬
dated its-various subsidiary companies.
The franchise is perpetual.
The North Side Traction Co. on July 20 1896 leased the Federal Street 8c
Pleasant Valley for 960 years, assuming its debt, and agreeing to pay as
rental all taxes, rentals, 8cc., and also $70,000 yearly in cash, payable Jan. 15
and July 15, equal to 5% on the $1,400,000 stock, of which it owns $750,OOH
V
63
p
31. 76, 189.
The $92,000 5 % bonds of the Federal Street & Pleasant Valley, due July 1
1919, were extended for 2 years at 6%.
STOCK AND BONDS—
Date.
i
Interest.
Outstanding
Maturity.
$1,400,000
See text
$1,250,000. g,J 1892
5 g J-J
1,073,000 May 1 1942
($1,000), on 28 miles_.c*tfUnt. at Fidelity Title & Tr, Co., Pittsburgh.
Stock (par $25), full
Oonsol
paid
..
....
Val mtge_._..tf
1889
1890
5 J-J
mtge,
Underlying mortgages—
Fed St &
PI
Allegheny & Bell 1st mtge..tf
Allegheny St 1st mort__
tf
Perry St 1st mortgage
.tf
Troy Hill 1st mortgage
tf
1890
1890
1890
6
5
5
5
5
92,000 July I 1921
18,000 Nov I 1920
27.000 Nov 1 1920
3,000 Nov
i
1920
37,0uu Nov
i
1920
J-J
J-J
J-J
J-J
Bonds.—Tne consolidated mortgage of 1942 is for $1,250,000. of which
the balance unissued is In the hands of trustee to retire all the other issues;
mortgage trustee is the Fidelity Title & Trust Co., Pittsburgh.
above Issues
are
guar., p.
All the
& i., by United Traction Co.
ROAD.—Embraces 34.39 miles of track (Including sidings) on about 17
miles of street; rails mostly 90-lb. girder.—v. 106, p. 85, 929, 1230.
Pittsburgh & Birmingham Traction.—A trolley road.
(b)
On Jan. 1 1902 leased for 999 years to the United TractionCo., which has|
agreed to pay all interest, taxes. &c., and also $150,000 annually as rental.
Lease is guaranteed by the Philadelphia Co.
P.
ORGANIZATION.—Incorporated Aug. 15 1889; Nov. 19 1889 leased
& B. Passenger Ry., Including South Side Pass. Ry. Co.
Also leased
operated from Dec. 1891 Pittsburgh Incline Plane Co. and Mt. Oliver
and
Incline Plane Co.; operated also Birm. Knoxville & Allentown Traction Co.
In Aug. 1900 purchased the $400,000 capital stock of the West Liberty
Street Ry. ancf constructed a line to Mt. Lebanon.
V. 71, p. 343.
STOCK AND BONDS—
Stock
($50)
Date.
....
Interest.
Text
Outstanding
Maturity.
$3,000,000
See text
1st M guar d & 1 by United I
1889
5 g M-N
1.500.000 Nov 1 1929
Tr Co ($1,000)
...c*tf\Fidelity Trust Co. of Philadelpnla, Trustee.
The So Side Pass Ry 1st Ml 1913
5 A-O
10.000 Oct. I 1953
($1,000) not sub to call., tf I Int. at Colonial Trust Co.. Pitts., Trustee
Guaranteed
Bonds—
Knox & A 1st mtge. I 1891
6 g M-S
500,000 Sept 1 1931
gold, interest guaranteed..\ Fidelity Trust Co., Philadelphia, Trustee.
Brownsville Ave St Ry 1st M. 1896
6 F-A
300,000 Aug 1 1926
West liberty St Ry 1st mtge.//1900
5gJ-J
400.000 July 11930
1
Pittsburgh Trust Co., Trustee.
ROAD.—Operates 30.44 miles of track, laid with 90-lb. rails.
Birm
ANNUAL REPORT.—Not now
an
operating company.—V. 72,
p.
776.
Lines Leased to Pittsburgh A Birmingham Traction Co
Mt. Oliver incline Ry.—Owned, leased and operated by Pittsburgh 8c
Birmingham Traction Co.
Stock, $100,000.
Bonds, 1st M. 6s, (cpt) M. A
N., due May 1 1954, $41,500.
Red. at 105 and Int.
Colonial Trust Co..
Pittsburgh, trustee.
Default and Subsequent Payment.—See Pittsburgh Railways above.
Pittsburgh incline Plane.—Leased for 999 years to Pittsburgh 8c Birm¬
ingham Traction Co., at rental equal to interesc on bonds and 10% on
$150,000 stock, free of tax; dividends were 9% yearly for some time, balance
being carried to surplus, but were increased some time prior to Jan
1 1902
to 10%.
The $150,000 1st M. 6s due July 1 1919 and the $100,000 2d M.
6s have been purchased by the Philadelphia Co.
STOCK AND BONDS—
Date.'
Interest
Stock (par $100) full paid....
1st mtge ($1,000 each)...c*tf
Second mortgage
1889
6 J-J
6%
Outstanding.
Maturity,
$150,000
See text
150.000 July 1 1919
100,000
Q-F
^
—.
ROAD.—Road extends from Forty Hill. Pittsburgh, on Bradford Street,
(c)
Pittsburgh
hill.—V. 106,
87; V. 108,
p.
p.
2529.
& Charleroi Street Ry.—A trolley road.
Stock owned by Pittsburgh Rys,
ORGANIZATION.—Incorporated April 19 1902 and took over the Char¬
leroi & West Side Ry.; is leased to the United Traction Oo. for 900 years
May 15 1902.
Rental is $1,000 per year.
Bonds are guaranteed,
principal and interest, bv the United Traction Oo. and the Philadelphia Oo.
The $55,000 1st M. 5s of the Charleroi 8c West Side Ry., due Sept. 1
1919, were extended for 2 years at 6%.
from
STOCK AND BONDS—
Date.
Stock $2,500,000 ($50)
.
-Charleroi & West Side 1st M.tf
Pitts 8c Charleroi 1st M $2,-/ 1902
500,000 gold ($1,000) .c*tf Int. at
Interest.
Outstanding.
Maturity.
$2,500,000
—
...
55.000 Sept 1 1921
6%
5 g M-N
2.445,000 May 1 1932
Union Tr. Co., Pittsburgh, Trustee.
1913
5 J-D
522.000 Dec
1 1943
000,000 ($1.000) red at 102 Int. at company's office or Union Trust Co..
8c int. on 10 weeks* notlcetf I
Pittsburgh, Trustee.
Bonds.—Of the Pittsb. 8c Charleroi 1st M. bonds. $55,000 is reserved to
retire a like amount of Charleroi 8c West Side bouds.
See V, 74, p. 1039.
Second mtge. bonds outstanding are owned by Pittsburgh Rys. Co.
ROAD.—Operates
a
road between Pittsburgh and Ailenport, by
way
Castle Shannon, Finleyviiie, Monongahela City and Charleroi, a distance
50.268
miles.
Completed in Sept.
(d)
Allegheny
Bellevue &
of
of
1903.
OFFICERS.—Pres., S. L. Tone; Sec., W.
Braun Jr.—V. 74. p. 1039, 1090; V. 76, p. 752.
Perrysville
B. Carson; Treas., O.
J.
Ry.
ORGANIZATION.—Incorporated in Pennsylvania
on
Feb. 8 1900.
En¬
tire stock is owned by the Pittsburgh Rys.
Is leased to the United Traction
Oo. tor 995 years from March 1 1905 at a rental of 10% on the stock.
STOCK AND BONDS—
Interest,
Outstanding.
Maturity.
10%
$250,000
See text
1905
5 g A-O
500,000 April 1 1935
($1,000)
ctflPenn. Co. for Ins. on L, & G. A.,PniI.,Trust.
Bonds.— Are guaranteed, prin. & int., by Phila. Oo.
Interest is payable
at company's office or by Brown Bros. & Co., N. Y. and Phila.
No sink¬
ing fund and bonds are not subject to call.
Stock $250,000 ($50)1st mtge $500,000 gold
Date.
guar/
...
ROAD.—Operates 16.688 miles of track from
Gauge, 6 ft. 2H in.
Allegheny, via West view,
to Bellevue.
(e)
Ben
Avon
&
Emsworth Street Ry.
„
•
...
ORGANIZATION.—Incorporated In Pennsylvania on June 17 1963.
Pittsburgh Rys.
Is leased to the United Trac¬
tion Oo. of Pittsburgh for 995 years from April 1 1906 at 5% oo stock.
Entire stock Is owned by the
Interest.
Outstanding.
Maturity.
A-O
$100,000
See text
1906
5 g
300,000 Aprill 1930
....tf 1 Fidelity Title 8c Trust Co., Pittsb., Trustee.
[interest at Go's, office.
STOCK AND BONDS—
8tock $100,000 ($50)
1st mortgage $300,000
guar
...
All owned by Pittsburgh Rys. Co.
The
Of these bonds, $5,190,000
trustee^
Pitts 8c Charleroi 2d M $1,-
purchased all the property and franchises of the Second Ave. and North
Side traction companies, and secured control of the Pittsburgh Allegheny at
p.
is
Baltimore Stock Exchanges.
to Washington Avenue, on top of
Co. of Pittsburgh.
Default—Bondholders' Protective Committee.—In view of the default by
Pittsburgh Railways In payment of the Jan. 1 1918 interest on the
United Traction Co. 5% bonds due In 1997, and on the bonds of various
other companies named under Pittsburgh Rys. Co. above (interest on
these latter was paid in March 1918—V. 106, p. 1232), the following com¬
mittee was formed to protect all the several bond issues affected.
In Feb.
1919 the scope of this committee was widened so as to include all the bonds
issued by corporations included in the system. V. 108, p. 684.
Chairman, Thos. S. Gates; Geo. H. Frazier, J. Rutherford McAllister.
B. Howell Griswold Jr., John H. Mason, A. A. Jackson, O. S. W. Packard
and A. C. Robinson; Sec., J. O. Wallace, 415 Chestnut St., Phila. Deposi¬
taries; Philadelphia Trust Co., Phila.; People's Savs. 8c Tr. Co. of Pittsb.
and Safe Deposit 8c Trust Co. of Baltimore. V. 106, p. 1232; V. 108, p. 684.
the
the
more
sional bonds above mentibned.
185.000 Dec. 1 1943
($1,000); red at 102# int] Int. at Office of co. or Colonial Trust Co.,
10 weeks" notice.-777.tf I
Pittsburgh, Trustee.
Bonds.—On 1st mtge. bds. a sinking fund of $5,000 per annum became
operative after 5 years; $60,000 have been canceled. $125,000 of the new
bonds are reserved to retire the bonds of the Washington Electric Street Ry
The 2d mtge. bonds outstanding are owned by Pittsburgh Rys. Co.
on
ROAD.—Operates
Dividends.—On preferred divs. at the rate of 5% annually were paid to
July 1914.
Jan. 1915 div. passed.
V. 100, p. 55.
None since.
See
above.
On common, X% paid July 2 1903 and }i% each six
months to and including Jan. 1912.
In July 1912, X%>
None since.
Bonds.—'The new United Traction mortgage is limited to
$10,000,000
bonds cannot be redeemed betore maturity; Maryland Trust Co. of Bait-
remarks
long-time contract
of
111
...........
Date.
....
gold?
2d M $100,000 ($1,000) sub/ 1913
5 J-D
.7?.-OO(1„m0C^
to call at 102 and Int on 10{Int. at co s office or Fidelity Title &
weeks' notice
tf I
Co., Pittsburgh, Pa., Trustee.
V-,*
Trust
ELECTRIC
113
debt of $180,000.
In May. 1896 stockholders were allowed to exchange
tueir stock for receipts, redeemed Oct. 1 1896 at $37 per share In 6% pre¬
ferred stock of Consolidated Traction Company at par.
52.635 shares out
Bonds.—1st M. bonds are guaranteed, prin. and int., by the Philadelphia
2d M
bonds outstanding are owned by Pittsburgh Rys.
Oo.
RU AD.—Operates
5
ft.
5.3332
m.
of track from Avalon to Dixmont. Gauge,
V.-P.. J. H. Reed; Sec.. W. B
Treas..
(f)
O.
Braun
J.
STOCK AND BONDS—
Carson;
c*tf)
Due
Dated Dec.
l
Trust
Pittsburgh,
(3)
Co.,
1899.
Dec.
1929.
Dividends were 5%, J J,
trustee.
ROAD.-At
8.27.
been
Interest.
outstanding.
Maturity.
J-J
$lo,ou0,U00 July 12,1%
6 M-N
12.000,UOO Nov 13. 3%
Equipment trust certificates) 1914
5 A-O
200.UOO
See texi
$500,000 Series "B
[Union Trust Co., Plttsbuigh, trustee.
Car w usi bonds $200,000 gold J
1916
5 g A-O
120,000
See text
($1,000; Series "C
,_C*tf [Colonial Irust Co., Pittsburgh, Trustee.
Oar trust bonds $800,000 gold;
1916
6 g A-O
480,000
See text
IH.UOU, Series "D"
tf,.Union Trust Co., Pittsburgh, trustee.
Oar trust bonds $200,000 gold j 1917
5 M-N
167,000
See text
($1,000) Series "E"
[Fidelity Title A Tr. Co., Pitts., Pa., trustee
Fort Pitt
1895
Trac mtge $1,000,-J
5 g J-D
1,000,000
Dec
1,485,435
guar
of
track
in
all.
B<mds.—The
Ardmore Street Ry.
Oct. 31 1907
Franchises in borougiis are perpetual
in
Pennsylvania
Road mostly ou private right of way.
Traction uwns all tne stock
Consolidated
cipal and interest.
V. 88,
p.
on
and guarantees the bond©,
881. Philadelphia Co. owns $26,000
STOCK AND BONDS—
Dale.
interest.
prin¬
bonds.
$14,000 ,$50;
See luxi
mtge
$1,250,000 gold] 1908
6 g A-O
$1,032,000 April 1 1968
($1,000;
c*tf[lnt. at Colonial Trust Co., Pittso., trustee
Bonds.—Remaining bonds are reserved foi extensions and betterments
No sinking fund, but subject to call at 105 and interest.
First
ROAD.—Operates 8.22 miles of track
Pittsburgh.—V. 88, p. 881
between
Allegheny
1901
6 g J-J
588,000 July 1
1931
—
-I
of Pittsburgh is trustee of all mortgages
ROAD.—Owns 70.4 miles of track. Including branches; 90-lb. rails.
operating
an
now
company.
OFFICERS.—Pres., W. L. Mellon; V.-P., A
Mitchell.—V. 72
p.
p.
W. Mellon; Treas., W.8.
269. 627, 735.
Traction.—A trolley road
Pittsburgh
(g;
776; V. 79,
ORGANIZATION.—Incorporated Aprli 30 1887.
LEASE.—Leased from April 2 1896 to the Consolidated Traction for 950
years at 7% on the $2,500,000 stock usee V
61, p. 115-1) but 14 years
dividends were used to pay floating debt of $250,000.
The full 7% Is now
being paid.
In May 1896 stockholders were offered receipts for their stock,
which were redeemed at $70 per -hare on Oct. I 1896 In preferred stock of
Consol. Traction Co., 49,500 shares out of 50,000 have been so exchanged.
V. 62.
Pittsburgh Traction owns the $250,000 capital stock
p. 948.
of Bloomfield Streer
and guarantees the bonds.
Ry
Interest.
Date.
BONDS—
STOCK AND
.
Outstanding.
Maturity.
7 A-O 31
$38 per sh.pd.ln.See text
c*.tf; 1887
5 A-O
IVoO.OOO Oct 1
1927
1 Fidelity Title A Trust Co., Pitts., Trustee.
($50)
1st mtge 5s
Guaranteed Bonds—
Bloomfield
Street
Ry
1st I 1893
5 P-A
250.000 Aug 1
1923
_...c*-tf'.Interest at Pittsburgh Trust Co., Trustee.
Stock.—Issued 50,000 shares, on which $38 eacn has been paid.
DIVIDENDS.—At company's office, Pittsburgh
Dividends In
9%: in 1896. none—see above; In 1898. 54%: in 1899 and since, 7%.
ROAD.—Owds
18.51
(h)
Rapid
Suburban
Transit Street
ORGANIZATION.—W
as
1895
of track
miles
leased
Or
for 900 years at an annual rental
Including interest and taxes
on
J
Ry.
an. 1
1902 to Consolidated Traction
of $56,000. as well as paying ail charges.
Date.
Interest.
Outsuinai> g.
Maturity.
J-J
$1,400,000
See text
$200,000. gf 1913
6 g M-S
200,600 Sept 1 1953
($1.000)
c.tfilnt. at Farmers Dep Nat Bank, Pittsburgh.
I
Colonlaj Trust Co.. Pittsburgh, Trustee.
Dividends.—In 1903.4%;in 1904,Jan..2%, July,] 4 %,siuce4% Derann.
Road.—Operates 11.88 miles of track on 6 miles of street.
STOCK AND BONDS-
Traction.
ORGANIZATION.—Incorporated July 23 1890.
April 1 1896 this
company was leased to the 1-ort Pitt Traction Company lur 950 years at a
rental oi $25,000 per annum.
Lease assumed by Consul. Traction Co.
STOCK AND BONDS—
g.l
payable at Mellon National Bank.
The Wiika. A Ver. bonds
guaranteed, prin. A int., by Wilk. A E. Pitts, St. Ry. Co., Monongahela
Co., Consol. Traction Co. and Phila Oo. Co. of Pittsburgh.
REPORT.—Not
Wilkinsburg and Eas<
Lines Controlled 0y Consolidated Traction Co.
(a)
1931
8t. Ky.
cur....
Stock
1929
624.000 June 1
and interest is
are
Muiurtly
Outstanding
2,000.000 8ept 1
5 g J-D
Union Trust Co.
Stock $2,500,000
ORGANIZATION.—Incorporated
5 g M-S
1901
tf/
..cAr
($1,000) cAr..tf—.
See
OFFICERS.—Pres., A. W. Thompson; V.-P., J. H. Reed; Sec., W. B
Carson; Treas., C. J. Braun Jr.;Comp., C. S. Mitchell.—V. 102, . 608.
1899
—
cAr tf j
M., $700.0001
Wil. M.. $700,000
ft. A
—
}
_
Ver.
($1,000)
g.
$300,000 Fort Pitt Pass. Ry. stock. $100,000 Gross Si. R> . stock. $100.00(1
Highland Park St. Ry. stock, $100.00., Negley St. Ry. stock.
I
$2,000,000 g ($1.000)
Wilk. A
1898
Union Trust Co.. Pittsburgh. Trsutee.
tf I
$1,000,000 gold
—
April 1 191/ to April 1 1926, inclusive.
$80,000 have been retired.
They
secured by 50 cars costing $221,000.
Free from Penna. State tax.
V. 102, p. 608.
The Series "D" car trust bonds mature $40,000 each
6 mos. from April 1 1917 to Oct. 1 1926 inclusive. $320,000 have been re¬
tired.
They are secured by 175 cars costing $900,000.
The Series "E"
car trust bonds are to be secured by 50 cars costing $225,000.
Tbey mature
in 11 annual payments commencing JNov. 1 1918.
$33,000 retired.
The Fort Pitt Tract, bonds are secured oy the ueposit ui the snares of the
constituent companies out of wnich the Fort Pitt Co. w<w> foimeu, namely,
mtge.__.-J 17
Wilk. A E. P. M
are
ROAD.—Controls 226.45 miles
$7.0C0.000
Mon. St. Ry. 1st
StocK. — The pref. stock carries cuih. divs. ol 6% pel annum anu Uas the
right to participate equally with the com. stock when that hat» received 6%
All arrears oi divs. were paid up In Jan. 1903.
V. /o, p. 48Fust div. of
Interest. Outstanding
Maturity.
See text $7,000,000 See text.
5 g J-D
1,000.000 June 1 1928
Miles Dale
BONDS—
STOCK A
Stock
2 i98b
1% on common paid Jan. 2 1903; tneu 1% July 1903; 1904 to 1911. incl.,
2% per annum.
In 1912, Jan.. 1%, July . 1%Bonds.—The equipment trust certificates Series "B" mature $25,000
semi-annually from April 1 1915 to October 1 1924; $300,000 have been
retired; they are secured by 100 cars costing $581,945.
The Series C"
car trust bonds mature in ten annual installments of $20,000 each irom
34%;
3 86%, in 1909 4.12%. in 1910 4.37% In 1911 and since. 4 4 %.
Default and Subsequent Payment on Piteairn & Wilmerding 5s.—See Pitts¬
burgh Rys. and United Traction Co. above.
Pittsburgh Tr. Co., Pntsb., trustee
——»—
Railway.
Street
Id 1905. Jan.. 14%. July. 1 3-57, .in 1906, 3 26%, in 1907
p. 269
to 1908
($50)
000 (.$1.00U; g not red c* trlint. at
Notes payable Dec. 31 1919—
(a)
Monongahela
26 1898, absorbed by consolidation the
Homestead & Highlands. Braddock A Home¬
Duquesne.
In
Dec.
1901
tne Monongahela Street Ry.. the Wilkinsburg & East
Pittsburgh Street Ry., the Wilkinsburg A Verona 8treet Ry. and the
Piteairn & Wilmerding Street Ky. (construction of latter two roads com¬
pleted during the year 1903-04). were merged In the Monongheia Street Ry.
md stock
was
increased from $1,000,000 to $7,000,000.
See V. 73,
p. 1112
On Jan. 1 1902 the Monongahela Street Ry
was leased for 999
years to the Consolidated Traction Co. for Interest, taxes, Ac., and an.
annual rental beginning with $165,060 the first year and Increasing $18,750
each year until $315,000 is reached.
Lease is guaranteed by PhiladelphiaCo
First dividend under lease (2%; was paid in July
1904
Set; V. 79..
Dale.
—
aft
ORGANIZATION.—On May
*.350;
Pref stock 6% cum
companies, having
4rhenley Park & Highland,
exchanged.
so
STOCK AND BONDS
II
stead and the Braddock &
l
Common stock
1930
July
'Consol. Traction Co."
Port Pitt Traction.—See
(f)
V. 78, p. 1112.
Slan for absorbing the shares oi the Consolidated Traction. See terms
286,880 shares common and 233,111 shares preferred
have
1896 controlled
time of lease In
(e)
The company absorbed
the Fort Pitt Traction Co. (a consolidation ui Fort Pitt Pass. Ky.. Gross
Street Ry.t Highiauu Park Street Ky. and Negley Street Ky.;. ana assum«a
its leases of the Citizens' and the Allegheny fraction companies, anu has
acquired the control of Che Pittsburgh tne Duquesne anu tne Central l'rae
tlon companies.
In 1902 leased the Muuougahela St. xty. and tne SuDur
ban Rapid Transit street Ky.
uwus all stock oi the Araxnoie otreet Ky..
and guarantees Its bonds, principal and interest.
V. 88. p. 882.
On Dec. \ 1901 the stockholders of Philauelphia Company approved
15 1895.
July
1,470,000
present 37.1995 miles of road.—V. 62. p. 948, 1087; V. 106, p. 85, 1230.
Consolidated Traction.—-Trolley road.
ORG ANiZAi'ioN.—Chartered
5 J-J
1890
in 1898, 3%; In 1899 and since. 4% yearly.
|Q 1896. none,
int^J. A D. at Fidelity Title A
Miles.
1
Maturity
(Fidelity Title & Trust Co., Pitts.,Trustee.
but in 1893 and 1894 none paid; in 1895. 4%J
Entire stock is owned by
ORGANIZATION.—lncorp. in Penna. on June 26 1899.
Is leased to
United Traction Co. of Pittsburgh for 990 years from Jan. i 1902.
Stock, «2o0.000 ($50;, 1st M. O/o gold bonds, *250,000 \ttj ($1,000,,
Outstanding.
1
Text.
$3,000,000
See
text
[Div. payable at Fidel. Tit. & Tr. Co.,Plttet>.
mortgage
1st
East /HcKeesport Street Railway.
Pittsburgh Railways.
Interest.
Date.
Stock ($50) fully paid
Jr.
See V. 62, p. 1087.
exchanged.
of 60,000 have been so
in.
24
OFFICER!*.—Pres., 3. L. Tone;
[Vol. 111.
RAILWAYS
Date.
Interest.
5%
Stock, $500,000 (par $50;—
Stocs $1.400,000
First
Outstanding. Lust div .etc
$500,000
See
text
-
.
..
mortgage,
Guaranteed Bonds—
toharpsburg, 1893
6 g M-N
741,000 Nov 1
1923
1st
M
$750,000
g-tf lint, at PittsO. Tr. Co., Pittsburgh, Trustee
Dividends.—The semi-annual dividend of 24% due June 1 1901 was
Millvale Etna
in 1902.
passed, the proceeds being useu to pay off the floating debt
44%; 1903 to 1917. Inci.. 5% per annum.
Central
Default and Subsequent Payment.See Pittsburgh Railways above.
riEASE.—incorporated Dec
2i
1888.
Leased irom April 2
1896 to
Traction for 950 years at 3% per annum on par value
V. 61, p. 1154;, and In May 1896 stockholders
redeemed
at
exchanging their stock for receipts, which wert
1 lSdh in Consolidated Traction Co
$30 per share ou Oct.
Ereferred slock at par. 29,17362,
been
shares1087Cent. Trac. stock (out ol 30.000;
ol
exchanged.
V
ave
so
p
BONDS—Miles.
Interest.
Outstanding.
Maturity.
Stock ($50) see text
3%A-0 I 30,000 shs. j
See
j 30 paid up j
text.
1st M $350,000 cable $
6
1889 5 J-J
$375,000 July 1 1929
line. $500
, nfff
Interest at Union Trust Co., Pittsburgh.
Bonds of Central Passenger Ry. controlled.
1st
M
$2uU,UU0 1
4
1894 6 A-O
125,000 Oct 1
1924
($1,000). .ntf )
Interest at Union Trust Co., Pittsburgh.
Dividends.—Feb 1, 1892, $2 50 in stock; in 1896, Feb., 2% in cash;
in 1898, Nov., 1%% in cash; in 1S99 and since 3% per year.
ROAD.—9.27 miles of road, of which it controlled by ownership of cap¬
ital stock, Central Passenger Ry., 3 4 miles.—V. 62, p. 948, 1087,
(c) Citizens' Traction.—A trolley road.
STOCK
AND
Date.
ORGANIZATION.—Incorporated July 6 1887.
On Sept. 1, 1887, pur¬
chased the entire, capital stock ($200,000) of the Citizens' Passenger Ry.,
vyhich it now holds.
Also owns stock of Aspinwall Street Ry.
LEASE.—Leased from Nov.
1, 1895, to Fort Pitt Traction Co.
(now
Consol. Traction)
for 950 years at 6% per annum on $3,000,000 capital
stock.
In addition the lessee agreed to pay a floating debt of $175,000,
and at maturily mortgage debt.
V. 61, p. 661.
STOCK
AND
BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock
($50)
fully paid
6 M-N
$3,000,OOOf.p.
See text
1st
mortgage ($1,000)
Not f 1887
5 A-O
686,000
Oct. 1, 1927
subject to call
tf(f-id. Title & Tr. Co.. Pittsburgh Trustee.
Bonds of lines ithose stocks are ou ned—.
Penn. St. Pass. Ry. 1st M
1892
5>J-D
250,000 June 1 1922
Interest and dividends payable at Union Nat. Bank. Pittsburgh, Pa
ROAD.—Owns 37.8 miles of traca
(d)
Duquesne
Traction.— A
on
15 miles of street.—V. 106, p. 818
the
Jan.
trolley-road
25\M&&U.
Leased
from April
2
1896
to
Consolidated Traction lor 950 years at 4% on the $3,000,000 stock,
but dividends for a year and a half were withheld for payment of floating
Ry.
on
bonds.
Date.
Outstanding.
Maturity.
1905
Gauge 5 ft
miles of track
ROAD.—Operates 3.31
OFFICERS.—Pres.
Interest
5 A-O
$24,000
See text.
5 g A-O
200.000 Oct 1
1935
Int. at office of Brown Bros. A Co., Phila.
Penn.Co.for Ins.onLives A G.A..Phila.Trus.
.
$200,000
gold
($1,000)
guar
prin
and
Int by Phila Co
c*.tf
mtge
8
Tone
L
V -P
J
H
2 4 in.
Reed,
Sec.,
W.
B.
Carson; Treas.. C. J. Braun Jr.—V. 107, p. 2188
Seventeenth Street Incline Plane Co.
(4)
ORGANIZATION
Is
reorganization on Dec. 28 1904 of the Penn. In¬
is owned by the Philadelphia Co.
Was
operated by the Pittsburgh Rys. Co. up to Jan. 16 1918. since when it has
been separately operated.
cline
Plane
Entire
Co.
a
stock
Dale.
Interest.
Outstanding.
Maturity.
$250,000
1905
5 cur M-S
125.000 Mch 1 1935
guar
c*.tf 'Int. at Colonial Tr. Co.. Piitsburgh. Trustee.
Bonds.—No sinking fund, and bonds are not subject to call
Are guaran¬
STOCK AND BONDS—
Stock $250,000
1st
mtge
teed
nrln
($50)
$125,000
($1.000)1
A
int
hy
'he
PMInMelphla
(V
EARNINGS.—For year ending Dec. 31 1919. gross, $42,951; net, after
taxes, $7,296; other income, $1,208; int., Ac., $6,250; bal., sur., $2,254.
OFFICERS.—Pres., A. W. Thompson; V.-P., J. H. Reed; Sec., W. B.
Carson; Treas., C. J. Braun Jr.; Controller. C. S. Mitchell.
(5)
Beaver Valley Traction.—A trolley road.
acquired by the Philadelphia Co. of Pitts¬
V. 81. p.506.
In July 1905 entire stock was
burgh.
ORGANIZATION.—Incorporated in Penn. in perpetuity June 29 1891.
owns entire stock of Beaver Valley St. Ry. and of Central Electric St.
Ry'
1891, operating them as one road under 999-year
lease.
Charter and
franchise perpetual.
and
Co., purchased Aug. 8
In
1900 stock
was
increased from $300,000 to $1,000,000 and then pur¬
chased the stock and property of the
People's Electric Street Ry. of Roches¬
ter. the College A Grandview Electric Street Ky.. the Rochester A Mon&ca
Electric St. Ry. and the Beaver A Vanport Electric St. Ry., also owns en¬
tire
capital stock of Rivervlew Electric St. Ry. Co.. the Freedom A Conway
Electric St. Ry. Co. and the Vanport Electric St. Ry. Co., none of which
any separate bond Issue,
in Jan. 1902 authority was given to in¬
crease stock from $1,000,000 to $1,500,000.
Fare Increase.—In Dec. 1917 the co. Issued a new schedule of rates and
has
.
Default and Subsequent Payment.—See Pittsburgh Railways above.
LEASE.—Incorporated
interest
STOCK AND BONDS—
1st
the Consolidated
Street
Entire stock is owned
Stock, $24,000 ($50)-...
I raction. —Trolley
Of $1,500,000 stock (.see
were offered privilege of
Electric
Morningside
ORGANIZATION.—Incorporated in Pennsylvania on July 14 1904.
by Philadelphia Co.
Is leased to the Consolidated
Traction Co. for 995 years from Sept. 30 1905 at a rental of 5% on stock
«
and
ROAD.—including Millvale Etna A Sharpsburg, 21.755 miles of road.
lb)
(i)
A
fares, effective Jan. 26 1918, in the boroughs of Beaver. West Bridgewater.
Rochester, Monaca, Freedom, Conway, New Brighton, Beaver Falls!
College Bill and surrounding territory Increasing the 5-cent fares to 6 cents,
adding a fare zone for through passengers from 12th St., Conway, to Vanport. and discontinuing the sale of cut-rate tickets In books of 21 for $1.
Oct, 1920. j
Tickets
zones
are
were
continued.*
ELECTRIC
RAILWAYS
sold in strips of 10 for 55 cents.
On Dec. I 1919 number of
increased, with a fare of 5 cents per zone, all tickets
being dis¬
Date.
Interest.
Outstanding.
$1,075,000
675,000
—
(closed) f
1900
5 g A-O
Maturity
Oct 1
1950
c*.tfUnt. at Pa. Co. for Ins.
on Lives &
Granting
Annuities, Philadelphia, Trustee.
5 g M-N
957.000 Nov 1 1953
gold
c*.tflint, at Northern Trust Co.. Phila.. Trustee.
gold« $72.-J 1917
5 J-J
54.000 See text
000 ($1,000)
(Fidelity Title & Tr. Co., Pittsburgh, trustee
Bonds.—Of the gen. mtge.
bonds, $675,000 are reserved for prior liens
and the remainder for extens.
and improvements at 75% of cost
See V
77,
p. 2158.
$232,000 owned by Phila. Co.
Both issues redeemable at 110
_
„
Gen mtge $3.000,000
($1,000)1
I
1903
.
OFFICERS.—Chairman of the Board, James D. Callery; Pres., A. W.
Thompson; V.-P., J. H. Reed; Sec., W. B. Carson; Treas., C. J. Braun
Jr.; Comp., C. S. Mitchell.
V. 107, p. 505, 607, 1840; V. 108,
p. 27
2429, 2623; V. 109, p. 176, 891, 984, 2267; V,
110, p. 2382, 2401; V. 11
p. 298.
and interest.
The
by 12
car
,
trust bonds mature
$6,000 Jan. 1 1921 to 1929 and
$18,000 retired.
motor cars.
ROAD.—Owns
,
are secured
•
and
operates db.2192 ro. of track, connecting the various
towns and boroughs in the Beaver
Valley, from Morado Park southerly, via
Beaver Fails, to Beaver and
Vanport and to Rochester and Conway.
Laid
with 90'lb and 73-Ib.
girder rails.
Owns 36 closed and 8 open
passenger
cars and 9 miscellaneous
cars
,
perpetual.
operates
Clairton
14.99
Street
miles
in
and
between
p.nhm
p.
($50)
all owned
ROAD.—Operates
egheny County.
one
mile
of
ELECTRIC
track
In
LIGHT
the
Phila
19i2
the
Co. (V. 94,
p.
Duquesne Light Co.
was
560). and in Nov. 1912 it
stock
Al-
April iDIG purchased tm- ,»i.>U.uou
by©
Power Co. which fell due April l 1916.
Franchise is perpetual.
Has contract
&
Co
bonds oi
extending
to
uie
7%
cum
1st
M
pf $10,000,000 ($100)
Interest
Monthly
Penna.
1963
Lt.
to
Outstanding.
$18,226,000
Maturity,
See
text
Q-F
5,941.000 Nov'20,194
$100,000.0001 1919
6 g J-J 1
31,718,500 July 1 1949
($500 & $1,000) g.c*&r*.tf/Bankers Tr
Co., N. Y., trus.
Int. In N. Y.
1st
Valley Electric Co
y Remaining $289,000
STOCK AND
BONDS—
Date.
Interest.
Common $4,000,000 ($50)
Pref 4% cum $2,500,000
Outstanding.
Maturity.
>.$4,000,000
2.OUU.OU0 Aug '20, 2%
First
mortgage
$5,000,000/ 1898
5 g F-A
See text Feb
i
1948
t$l,000) gold
tf (Maryland Trust Co., Baltimore, Trustee.
Int. on bonds is payable at Brown Bros. &
Co.. N.
and Alex. Brown.
& Sons. Baltimore.
-
($50)
'
4 F-A
EARNINGS.—For year end. Dec. 31 1919, gross,
$113,399; net, after
(loss), $21,799: other income, $77,923; interest on bonds, &c.,
$343,788; deficit for year $288,663.—V. 102, p. 525, 1989; V.
107, p. 2292, 2378.
taxes
\2)
South Side Gas Co.
15.751 shares of stock are owned
ORGANIZATION.—Incorporated
by the Philadelphia Co.
Jan. 26 18o2 in Pennsylvania.
Stock,
'
WEST PENN TRAC.& WATER POWER CO.
ORGANIZATION.—lncorp. July 11 1911 In W. Va.
Water
and
Power
name
Water
Co..
Works
to above title in accordance with plan of American
Guarantee Co. (now American Water Works &
Electric
&
Co.) In V. 94,
V. 95, p. 1537).
of the
as the Black Riverbut In April 1912 was reorganized and
capital increased
changed
p.
984.
(See also detailed statement of that coinyauy in
Owns entire common stock, and $1,938,200 preferred stock
West Penn
Railways Co.
STOCK—
Div. Paid.
Outstanding. Last Div'd.
$22,054,700
2
Q-M 15
8.054,700 Nov'20, IX
Coll
trust
notes
$2,000,000/ 1918
7 g J-D15
1,106,000
See text
($1,000) gold guar
c*tf/Int. at Cont. & Comm. T.&S.Bk., Chic., tr.
Common $22,500,000 ($100)
Pref $8,500,000 ($100) 6% cum
Stock.—$15,898,700 common and $4,668,500 pref. stock is owned
by
American Water Works & Electric Co.
Notes.—Tho coll. trust notes of 1918 were issued in connection with the
acquisition by the co. of $2,538,200 par value of West Penn Rys. Co.
6%
cum. pref. stock.
(A portion of this was subsequently disposed of by the
co.)
The notes are secured by com. and pref. stock of and guaranteed
by
the West Penn Rys. Co. and mature $400,000
annually.
$300,000 of each
maturity may be extended to June 15 1923.
The $1,106,000 notes out¬
standing mature $51,000 June 15 1921; $300,000 June 15 1922, and $/55,000
June 15 1923.
$894,000 have been retired.
Call, at par and int. on 30
days' notice.
Dividends.—On pref., \X% quarterly frpin organization of
company to
and Including March 1914.
None to March 1917. when
1X%
M
1899
5 g J-D
y11,000 Dec 1
1949
$300,000 ($1,000) gold—tf Int. at Colonial Tr.
Co.. Plttsb., trustee.
Monongahela Lt & P 1st M
1899
5 g J-D
1,700.000 June 1 1949
$1,700,000 ($1,000) g—-tf Int. at Mellon Nat.
Bank, Pittsburgh.
•
(Union Trust Co. of Pittsburgh
trustee
Pittsburgh-Beaver Light Co/ 1917
5 M-N
565.000 Nov. 1 1927
1st M $565,000 ($1,000)
g(Equitable Trust Co., New York, trustee.
Beaver County Lignt Co
on these bonds noted above.
V. 107, p. 122, 92.
This
plan has been carried out, suit having been withdrawn, and ail but
$59,000value of bonds having been exchanged up to Oct. 1 1920.
authorized and Issued, $500,000 ($25).
Ht
& coll tr
Bonds of leased Cos.
Southern Ht Lt & P
first
par
In Dec. 1912
supply all
electricity used by the Pittsburgh Rys.
Also has contract with the city of
Pittsburgh for street and other municipal lighting and
power purposes.
City Lighting Contract.—On Nov. 19 1917 the
Pittsburgh City Council
adopted an ordinance to authorize a contract with the
company to furnish
light to 20 wards of the city for ten years, the contract
being based on nor¬
mal prices for labor and
supplies; contract has since been signed.
In 1917 Drought out an issue of
$3,272,251 5-year notes dated July 16
1917, whole Issue oeing purchased by the
Philadelphia Co.
In July 1919 the co. issued
$25,000,000 1st mtge. & coll. tr. 30-yr. 6s,
proceeds being applied to the purposes enumerated in
the description of
this issue below. See also V.
109, p. 176, 2267.
In July 1920 an additional
$8,000,000 of this issue was put out,
proceeds being applied principally for
expenditures on the new Colfax power
plant and extensions to the Brunot
Island power station. V. Ill, p. 298.
In Sept. 1919 the stockholders
approved the issuance of a $100,000,000
mtge.
V. 109, p. 984.
Compare V. 109, p. 176.
STOCK AND BUNDS—
Date.
Common $25,000,000 ($100)—
$4,897,000
result of the default
the interest of
merged with the Monou-
preparatory to acquir¬
ing control of the electric-lighting properties owned
by the Phila. Co.
Merger effective Jan 1 1913.
Owns $849,950 out of $850,000 stock of
the Pennsy. Lt. 8c P.
Co., the
entire stock and bonds of the
Allegheny County Lt, Co., the entire stock
and $1.89.000 bonds of the Southern
Ht., Lt. 8c P. Co., the entire stock of
the Diamond Lt. & Pow. Co.. Beaver
County Lt. Co., Midland El, Lt &
P. Co., Pittsburgh-Beaver
Light Co., Brunot Island Bridge Co,
Allegheny
County Steam Heating Co. and $500,000 bonds (entire
issue) of the Fast
End Electric Light Co.
On Dec. 31 1912 leased for 50
years the Allegheny
Co. Lt. Co., which in turn leases the
Southern Ht., Lt. & P. Co. and
Monongahela Lt. & P. Co. for 900 years from Jan. 1 1902.
in
and
Gas Co. operates under a perpetual charter
and with
Allegheny Illuminating Co. and the South Side Gas Co. constitutes
the
only gas-manufacturing companies in the city of
Pittsburgh and the exclu¬
illuminating gas is vested in them.
These com¬
panies discontinued operations in June 1919.
Uwus entire
$2,000,000 stock and $2,000,000 bonds of the
Allegheny
Illuminating Co. and pledges them ander Its first mortgage.
Default.—Int due Feb 1 1916 on the 1st M. os was defaulted.
Deposit,
of bonds has been called for
by the following committee; O. S. W. Packard,
Chairman;
A.
O.
Robinson,
Thomas
S.
Gates,
B.
Howell
Griswold Jr., D. H. Hostetter and T.
G. Daub;
Sec., E
L. Brantlgam, 517
Chestnut St., Phila.
Depositaries, Penn. Co. fur Ins. on Lives 8c Granting.
Ann.. Phila., and Safe Deposit 8c Trust Co., Plttsb.
V. 102. p. 526. 1989.
in Dec. 1918 holders of the
1st mtge. bonds were offered in
exchange fpr
said bonds $925 of
Philadelphia Co. 6% pref. stock for each $1,000 bond;
the exchange becoming effective
upon the acceptance of this offer by holders
of at least 80% of the bonds and the
withdrawal of the suit instituted as a
purchased in
fjahela Lt.Co. and Oakraont & Verona $25,000,000 P
t increased its stock from
$3,000,000 to Lt., Ht &
GAS.
of
sive right to manufacture
POWER
was
Co.
The Consolidated
che
Duquesne Light Co. — Entire com. stock is owned
by the Phila. Co.
Incorp. on Aug. 25 1903 under the laws of Pennsylvania.
In Feu.
Gas
the
.
Capital
Borough of Clairton,
AND
Consolidated
Pittsburgh.
common,
$155,000 of the pref. stock,
mortgage bonds are owned by Philadelphia Co,
ta.uuty
Railway Co.—A trolley road
In Penna. May 5 1904.
by Pittsburgh Railways Co.
1901
6 A-0
150.000 April 1 1916
ntfllnt. at Colonial Trust Co., Pittsb., trustee.
ARTIFICIAL
(1)
All
1802; V. 109, p. 677.
ORGANIZATION.—lncorp
$30,000
mtge?
were
surplus for year, $76,032.
trolley road
in
Pennsylvania Jan.
23
190a
$235,000 ($50 par), ail owned by
Leetsdale, Allegheny County, Pa.—V. 105,
Power
purchased by the Duquesne Light Co. In April 1916.
EARNINGS.—For year ending Dec. 31 1919, gross,
$244,787; ne^
after taxes, $79,797; other
income, $5,332; interest on bonds, &c., $9,097
EARNINGS.—For year ending Dec. 31
1919, gross, $89,942; net, after
taxes, $33,499; other income, $23;int. &
disct., $62,233; deficit, $28,711.
(7)
Ht &
These bonds
Pitts
Union Tr Co of Pitts,, trustee.
Are guar, p. & i
bv Phila
Co
Fare Increase.—On Dec. 1 1919
number of zones were
increased, fare
made 5 cents per zone and tickets
abolished.
KOAi
Light & Power Co.
$150,000 ($1,000)
Capital stock
Philadelphia Co.
Bonds
authorized, first mortgage gold, $1,500,000
issued, $750,000, all owned by the
Philadelphia Co.; dated July 1 190a,
due July 1 1958 (tf).
Int. 5%, payable Jan. & July at
company's office
and
Pennsylvania
Penna Lt.
OFFICERS.—Pres., A. W. Thompson; V.-P., J. H. Reed;
Sec., W. B.
Carson; Treas., C. J. Braun Jr.;
Comp., C. S. Mitchell.—V. 77, p. 1224,
2158; V. 81. p. 506,1664, 1790; V. 87,
p. 345; V. 106, p. 295; V. 109, p.
675.
V6) Pittsburgh tfc Beaver Street
Railway Co. —A
ORGANIZATION.—incorporated
a)
$849,950 of the stock Is owned by the Duquesne
Light Co.
ORGANIZATION.—lncorp. in Penna. Jan. 14 1901.
Oper. separatelySTOCK AND BONDS—
Date.
Interest.
Ouistanamg.
Maturity.
Stock $ 1,000,000
($50)
$850.000
EARNINGS.—For year ending Dec. 31
1919, gross, $518,389; net, after
taxes, $72,712; other income,
$1,810; int., rents, &c., $105,612; discount
on securities sold,
$1,184; deficit for year, $32,274.
Franchises
LATEST EARNINGS—See
Philadelphia Co.
of Dec. 31 1919, had a power station
generating
w.; 5.572 miles of distributing lines; 612 miles of
transmission lines; 72.4 miles
underground conduit; 100,013 customers; total
capacity of 156,200 k.w.; 4,432 miles of distributing lines; 523 miles of
transmission lines; 71.2 miles
underground conduit; total contracted load
approx. 289,173 k. w.;
supplies 5,318 arc lamps.
Cheswick power plant
now under construction will
have an initial installed capacity of
60,000
k. w., and will cost about
$15,000,000.
V. 109, p. 176, 891.
The first
unit was to have been installed
by Oct. 1 1920.
V. Ill, p. 298.
.to*
Output for 12 months ending Dec. 31 1919, 620,620,240 k. w,
h., against
637,575,241 k. w. h. for the same period in 1918.
PROPERTY, &C.—As
capacity of 156,200 k.
STOCK AND BONDS—
8tock $1,500,000 (par
$50)
1st
con
mortgage
gold
113
was
again resumed,
V. 104, p. 864.
quarterly
Accumulated divs. in arrears, 16X %
OFFICERS.—Pres., A. M. Lynn; V.-P., A. V. Bennett; V.-P. & Sec.,
Raymond B. Keating; Treas. & Asst. Sec., C. O. McBride; Asst.
Sec., W. K
Dunbar and G. E. Murrie; Asst.
Treas., C. F. Kalp; Aud., M. W. Glover
Pittsburgh.—V. 104, p. 1704; V. 105, p. 1523; V. 10/, p. 2471, 2478
V. 108, p. 2249, 2524; V. 109, p.
1177, 2173; V. 110, p. 2487, 2489; V. 111.
642,500
130 5)0
by Duquesne Light Co
a whole on
any div. date at 115 and div.
.
—
owned
P. 71.
Stack.—Pref. stock is red. as
on
60 days' notice.
WEST PENN RAILWAYS CO.—(See Map, page 114.)
Bonds.—The first mtge. & coll. trust 6s are
secured by a first mtge. on
All of com. stock and $1,938,200 of the
pref. stock is owned by the West
all property owned in fee and
by a first lien on the co.'s leasehold interests
Penn. Trac. & Water Pow. Co. and
$281,800 pref. stock is owned by the
and on certain bonds and
virtually all the stocks of its subsidiaries.
Amer. Water Works & Electric Co.
The
*
proceeds of the $25,000,000 of these bonds were
applied as follows:
(a) $12,000,000 (together with certain cash from other
I
ORGANIZATION.—A consolidation on May 23 1917 of the old West
sources) were
Penn Railways Co. with the Brownsville Street
used to retire (by call on Jan. 1 1920 at 101
Ry. Co., Greensburg 8c
and int. V. 109, p.
2267) $12,000,- ! Southern Electric St.
000 Duquesne Light Co. 3-yr. 6% secured
Ry. Co., Latrobe St. Ry. Co., Lj.trobe-Heela St.
notes, due July 1 1921 (V. 107,
Ry.
p.
Co., Masoutown-Morgantown St. Ry. Co.,
607). (o) $10,295,390 deposited with thUtrustee and—or with its
Piiteburgh Mciveesport 8c
designate
Connellsville Ry. Co., Luioutown Radial St.
depositaries, and may only be withdrawn from time to time to
Ry. t o. and West Penn
pay or reim¬
lnterurban Ry.Co. (all of the
burse the company in part for cash
capital stock of which corporations had been
expenditures aggregating $14,648,125
owned by the West Penn
made (1) in connection with the construction to
hys.), and with the West Penn Traction
an initial installed
Co.,
capacity
of 60,000 k. w. of the new Cheswick
McKeesport & Irwin Ry. Co., Pittsburg McKewspou 6c
power plant; and (2) for permanent
Greensburg Ry.
Co. and White Electric Traction Co.
additions and extensions to the
(for terms ol eousoluiatlon see V.
property,
(c) The remaining $1,281,500
104, p. 1704). Owns all of cap. stock of Allegheny
were-delivered to the trustee to be held
Valley St. Ry. Co.,
pending the fulfillment of certain
Kittanning & Leechburg Rys. Co., Oakdale & McDonald St. Ry. Co. and.
conditions.
The auth. amount of these bonds was
increased to $100,000,Pittsburgh & Allegheny Valley Trac. Co., and operates the last three
000 and the co. received the $1 ,281,500 bonds
under
previously mentioned as being
lease.
Also owns
deposited with the trustee out of the initial Issue of $25,000,000.
practically all of the capital stock o» the Wheeimg Trac¬
The re¬
tion Co., and all or the stock of Steubenviile
maining $68,281,500 bonds may be issued under certain conditions for
Weilsburg 8c Weirton Ry. Co.,
pur¬
the SteubenviJJe Ry.
Co., the Brooke EJec. Co., Weilsburg Elec. Lt., Ht.
pose enumerated in V. 109, p. 176.
The mtge. provides for a maintenance
& Power Co., Hancock
and depreciation fund of not less than
County Elec. Co., and the West Virginia Power &
15% of the gross operating revenues
Transmission Co., successor owner of water
of the system.
power rights and properties
Registered bonds in the $1,000 denom. only.
Red. on any
of llydro-EIectric Co. of W.
int. date at 105 and int.
Va.; also all of the common stock of the West
Free Penn. 4-milLs tax.
V. 109, p. 176; V.
Ill,
Penn Power Co.
In addition the West Penn Rys. Co. controls
p. 298.
the Steuben¬
viile Bridge Co. through
Notes.—The 3-year notes have been called for
ownership of the majority of its common stock
payment Jan. 1 1920 at
and ownership of the S. W. 8c W.
101 and int.
V. 109. p. 176.
Ry. Co., which owns the majority of its
pref. stock.
Dividends.—Firsi div. on pref. stock, \ %%,
paid May 1915; same rate
In 1920 the rights and
quar. since.
First quar. div. on com., l%%,
properties theretofore owned and controlled by
paid Mar. 31 1913; Sept.,
Hydro-Electric Co. of W. Va.', incl. the partially
%.
Since then divs. have been 7-12% each month.
developed water power
project at State Line on the Cheat River, were taken over and are now
REPORT.—For years ending Dec. 31:
owned by the West Virg.ma Power & Transmission Co.
The properties of
1919.
1918.
the Transmission Co. have been maintained and cared
1919.
1918.
for and considerable
,
Gross
earus
11,917,567
Net, aft. taxesx4,411,965
Other income.
202,465
11,505,315
4,141,509
64,002
Depreciation
Total net inc..
4,614,430
Int., rents, &c. 1,117,005
Disc., taxes,&c.
on sale of sec.
747,692
*
Deficit.
4,205,511
897,674
$
►
10,319
4,567
768,123
413,529
progress has been made in the acquisition and consolidation of
necessary
flowage rights and rights of way preliminary to resumption of construction
1,458,085
ule providing for an increase In fares from 6 to 6 cents, effective
May 11 1918*
Impt. & bett's,
written off.
Misc. lossesPref.
37,232
.
divs
446~398
Common divs. 1,458,080
Surp. for
year.
808,023
all track and trans¬
mission lines outside of municiualitles are on
private right-of-way.
Fare Increase.—In April 1918 filed with the P. 8. Comm. a new fare scned-
Effective Jan. 27
"
412,148
work when this shall be determined
upon.
Franchises are almost all perpetual.
Practically
41.066
1919,
new
tariff went Into force, Increasing the number
and changing the limits of the previously established fare zones.
The co.
has reduced fares from 6 to 5 cents per zone.
See also V. Ill, p. 75.
The
"
LYNDORA#
SCALE OF
L.I
LEGEND
MILES
KITTANNING
I
RAILWAYS
Operating Lines
GARRETTS RUN
MCCAIN
v
Proposed Lines
Towns
No Light Furnished
POWER
Generating Stations
25000 Volt Lines
Construction
25000 Volt Lines Under
25000 Volt Lines Proposed
1
i—I—I—
132000 Volt Tower Line
N
Sub Stations- Owned
Sub Stations—Consumers
Sub Stations
Under Construction
Sub Stations
Power Purchased
Sub Stations
Proposed
Electric
Lighting Service
N
E
D
CO.
ligonier
BARTON
MART1NS
jrt
8T.CLAIR8VILLEr|j=
FERRYJJji
#
X*
I
W: ;#BENWOOD
B
E
LM O
T*||:
FIoreaceTjWi ^MjMECHfcN
N
upAULw
STM"^U«OGKR« MILLS
MAP
'^INDIAN
OF
THE
CREEK
Sli art jside
WEST
PENN
OPERATING
SYSTEM
TERRITORY
WEST PENN POWER COMPANY
WEST
E
PENN
RAILWAYS COMPANY
AND
WHEELING TRACTION COMPANY
OFFICES; PITTSBURGH, PA.
VIRGINIA
'
Oct., 1920.)
ELECTRIC
has filed with the P. S. Comm. a new fare schedule effective Sept. 19
1920 which provides for a cash fare of 8 cents per zone, tickets to be sold
co.
V. Ill,
6/4 cents.
at
991.
p.
STOCK AND BONDS.
Date.
Common $10,000,000 ($100)—
Pref 6% cum$10.000.000($100)——
1st & ret M gold
W P Tract 1st M $25,000,000'
interest.
q—M
'*■ 5%
1910
_5 g J-D
,,
Outstanding.
Maturity
$8,054,700
7.365.300 Sept'20,1/4
—
5.251.500 June 1 1960
gold ($1,000 & $500)—c*tf| Int. at Equitable Trust Co., N Y., trustee.
Old W P Rys 1st M $6,000,000,
1905
5 $ A-0
$5,667,000 Jan
11931
($500 & $1.000)
—c*tf1 Int. at Equitable Tr. Co., N Y.. Trustee.
Coll tr M $6,000,000 gold, _1910
5 g A-0
2.926.000 Jan
1 1931
($1.000.$10.000&$50.000) r1 Int. at Equitable Trust Co.New York, Trus
P McK & C
1st con mtge
1901
5 J-J
2.912.000 Jan
1 1931
$3,500,000 ($1,000) gold-- Interest at Colonial Trust Co., Pittsburgh.
Trustee.
Cannot be called.
tf
Con Sub St Ry mtge ($175.-/ 1902
175.000 Jan
1 1932
5 g J-J
000 guar p. & i
tf\Int. at Colonial Trust Co., Pittsb., Trustee.
Kitt& Ford C 1st M $50,000]
1898
6 J-D
27,500 Dec 11928
gold ($1,000)—,-
—c»l Pittsburgh Trust Co., Pittsburgh, Trustee
Alleg Vail St 1st & coll tr Mf 1906
5 g F-A
1,680,000 Feb 1 1936
$2,000,000 g not redeema-iInterest at Union Trust Co., Pittsburgh
ble
.c&rtfl
($1,000)
Traction
ersailles
first!
Co
Trustee.
1897
88,OOlO Sept. 1 1927
6 g M-S
mortgage gold
Jlnt.at Pittsburgh Trust Co.,Pittsburgh, trus
Oakdaie & McD St Ry 1st Ms J 1906
5 J-J
60.000
Jan 1 1937
by W P Rys.ntf lint, at Colonial Tr. Co., Pittsburgh, trustee
& G 1st M Sl.-f 1901
5 g J-J
1,500.000 July 1 1931
($1,000)-.cannot!Int. at Harrisburg Tr. Co., Harrisb. Tr. or
tf I
Manufacturers' Tr. Co., Providence, R. I.
Preferred Stock.—After 1918 no div. can be paid on the com. stock unless
in addition to payment of the pref. stock divs. in full, there has been re¬
served annually an amount equal to 3% on the then outstanding pref
stock.
No additional pref. stock can be issued at any time unless the
earnings applicable to pref. divs. are twice the annual requirements there¬
for. including the proposed issue
Stock is preferred as to assets and divs
and is callable at 105.
Pref. stock is listed on the Louisville and Pittsburgh
g gu p&i
Pitts McK
500,000
be called
RAILWAYS
Are secured by a deposit of $204,500 Wheeling Bidge Co. stock.
The
Panhandle Trac. Co. stock purchase notes originally were 6s, and matured
Dec. 1 1918, but were extended for 3 years at 7%.
Seemed by $476,200
of that co.'s com. stock.
Are callable at par.
The equipment trust
were for the purchase of 8 new P. A. Y. E. cars costing
$43,698.
They mature $4,000 semi-ann. (J. & D. 1) up to and incl. Dec. 1
1921.
The equip, trusts of 1918 mature $12,000 each Sept. 1 and $13,000
each Mar. 1 up to and incl. Mar. l 1923.
i
Dividends.—First div., 1%, was paid Jan. 10 1903, and 1% was again
paid July 1 1903.
None to July 1909, when 1% was paid; in 1910, 4%; in
1911, 4%.
In 1912, 4.58%; 1913 and 1914, 5%; 1915, 2.65%; 1916 and
1917,2%.
None since.
ROAD.—Own* or controls and operates 87.73 milesoftrackin Wheeling
and suburbs, extending to Barton, Shadyside, Rayland and Wellsburg,
Moundsville, Bellaire and Martin's Ferry.
Also has a line from Steuben¬
ville to Brilliant.
Gauge, standard and 5 ft. 2/4 in.
Has 190 cars. Power
station at Wheeling.
V. 110, p. 563; V. Ill, p. 190, 590, 1371.
certificates of 1916
(1) Steubenville & Wheeling Traction Co.
Owned and operated by Wheeling Traction Co.
ORGANIZATION.—Incorp. May 1901 in Ohio.
In Sept. 1905 acquired
oy deed all the property of the Steubenville Mingo & Ohio Valley Trac. Co.,
subject to the bonds or that company in table below.
V. 81. p. 1101.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock $650,000 ($100)
$500,000 —;
..
First mtge $650,000 guar gold 1 1905
5 g M-N
533,000 May 1 1935
($1,000)
ntf lino, at Dollar Sav. & Tr.Co..Wheeling,trust.
steub Mingo & Ohio Val lstM\
1900
6gJJ
117,000 Jan 1 1925
$150,000 g ($l,O0O>..c* ntf (Int. at Equitable Trust Co., N. Y., trustee.
Bonds.—Of the $650,000 new bonds. $117 000 are reserved for prior Hens.
•
-
Are subject to call at 102 and int.
They are guar., prin. & int., by Wheel¬
ing Trac. Co.
Entire issue of/Steubenville Mingo & Ohio Valley bonds
is subject to call at par and int. on 3 months' notice.
Originally matured
Jan. 1 1920 and bore 5% int. but were extended for 5 years at 6%.
ROAD.—Steubenville to Brilliant and Wheeling to Rayland, 15.42 miles
of track.
Gauge, standard and 5 ft. 2/4 in.
13 cars.
Power house
abandoned Dec. 31 1917.—V. 81, p. 1101.
(2)
bonds, $9,175,000 are
reserved to retire the bonds of constituent companies and balance for exten¬
sions and betterments at 90% of cost.
As additional security all the out¬
standing coll. trust bonds of 1910 of West Penn Rys. and other securities
owned are deposited under the mtge.
Through this deposit these bonds are
secured on the properties of the subsidiary cos., subject to the outstanding
underlying issues.
$591,500 are held in treasury.
Bonds are not subject to
call.
Tax-exempt in Pennsylvania.
See description of bonds and prop¬
erty in V. 92, p. 597.
The West Penn Railways Co. 1st mortgage bonds
of 1905 are not subject to call.
They are tax-free in Pennsylvania.
Listed on Philadelphia, Louisville, Pittsburgh and Baltimore Stock Ex¬
changes.
$500,000 P. McK. & O. 1st consols are reserved for extens. and
impts., and $88,000 to retire sub. co. bonds.
The Connellsville Sub.
bonds were guar., p. & L, by the
Pittsb. McK. & Connellsville Ry.
and are callable at 105 and int. on 30 days' notice.
Tax-free In Penn
All the W. P. Rys. coll. trust bonds are owned by co. and are on deposit
as part security for
W. P. Trac. Co. 1st M. bonds.
$90,000 Oakdaie &
McDonald bonds owned by West Penn Rys. Co., not Included in amount
West Penn.
Bonds— Of the
Traction Co.
1st M.
reported outstanding.
Int. is payable at agency of company In N. Y
City.
Callable at par.
Tax-exempt in Pa.
$10,000 Alleg. Valley St.
Ry. 1st M. bonds (not Included in amount outstanding) are held in treasury
of Allegheny Valley St. Ry., are secured by a pledge of entire capital stock
of the Alleg. Valley Light Co.
Dividends.—Divs.
on
oref. stock were begun Sept.
15 1917
EARNINGS.—For years ending Dec. 31 (including subsidiaries):
Cross Earns.
Net after
Fixed Charges.
Balance,
12 Months to
Taxes.
Divs. (Sub.Cos.) Surplus.
$3,735,659
$2,091,493
$1,644,166
3.462,968
2,114,946
1,347,822
ending June 30:
——$12,327,192
$3,712,008
$2,156,831
$1,555,177
10,362.483
3,526,474
2,139,012
1,387,462
Dec. 31—
(all sources).
1919
$10,634,611
1918
9,352,905
Latest Earnings.—For 12 mos.
—
—
1919-20
1918-19
OPERATIONS, &c.—The physical property owned by the West Penn
Rys. Co. and subsidiaries (exclusive of the West Penn Power Co.) includes
339.25 miles of track (measured as single track), of which 286.33 miles are
5 ft. 2/4 in. gauge and 52.92 miles 4 ft. 8)4 in. gauge; 320 motor passenger
20 non-motor passenger cars, 3 trail passenger cars, 23 work cars,
7 express cars, 9 sweeper and 57 other cars; car barns at Buena Vista,
cars,
Harmarsville, McKeesport, Tarentum, Kittanning, Garretts Run, Leechburg, Connellsville, Iron Bridge, Uniontown, Oakford Park, Greensburg,
Latrobe,
and
North
Huntingdon
Twp.,
Pennsylvania,
and
at
Beech Bottom, Wheeling, McMechen and Follansbee, West Virginia, and
West Wheeling and Steubenville, Ohio; repair shops at McKeesport,
at
Tarentum, Garretts Run, Leechburg, Connellsville, Greensburg and La¬
trobe, Pennsylvania, and Beech Bottom, Wheeling, Follansbee and Mc¬
Mechen, West Virginia; power stations at Connellsville (leased to West
Penn Power Co.), Kittanning (operated by West Penn Power Co.) and
Creighton (operated by Allegheny Valley Light Co.), Pennsylvania, and
Wheeling, W. Va.; 76.85 miles of 22,000 volt transmission lines (of which
7.60 miles are leased to the West Penn Power Co.) exclusive of low tension
distribution lines in cities and towns; and 11 sub-stations having a trans¬
17,400 k. w. (of which one sub-station with a capacity
leased to the West Penn Power Co.).
OFFICERS.—Pres., A. M. Lynn; V.-P. & Sec., R. B. Keating; V.-P.,
H. L. Mitchell; Treas. & Asst. Sec., C. C. McBride; Asst. Treas.,C. F.
Kalp: Asst. Sec., G. E. Murrie and W. K. Dunbar; And., M. W. Glover.
former capacity of
of 1,500 k. w. is
—V.
110, p.
fa)
1416, 1749; V. Ill,
p.
75, 991, 1473.
Wheeling Traction Co.—A trolley road.
Oct. 1 1912 control was acquired by the West Penn Traction
Co.
Rys.), which owns over 99% of the stock.
ORGANIZATION.—Incorp. Sept. 1900 in W. Va.
Consolidation of the
Bellaire Bridgeport & Martins Ferry Street Railway Co., the MoundsvilJe
Benwood & Wheeling Railway Co. and the Wheeling Railway Co.
Owns
entire capital stock of and operates Bellaire South-Western Traction Co.
On
(now West Penn
Owns entire capital stock of and op¬
Steubenville & Wheeling Trac. Co. and Pan Handle
Trac. Co.; also operates under lease Steubenville Wellsburg & Weirton Ry
Co. and the Steubenville Ry. Co.
Controls Wheeling Bridge Co.
in Jan. 1911 increased auth. stock from $2,000,000 to $2,500,000
Greater part of franchises perpetual.
Fares.—In June 1918 applied to the West Va. P. 8. Coram, for auth. to
make a general increase in fares, but increased rates did not become effective
until May 29 1919.
In Aug. 1920 the co. was auth. by the I.-S. C. Comm.
to increase fares on its line to Steubenville, Brilliant, Bellaire and Martins
and
Wheeling & Western Ry. Co.
erates under lease the
Ferry, O.
The fare from Wheeling to Bellaire was raised to 10 cents.
V. Ill, p. 590.
STOCK AND BONDS—
Date. Interest.
Outstanding Last div.. Ac,
Stock $2,500,000 ($100)
$2,336,300
See text
1901
5 g J-J
2,500,000 Jan
1 1931
Wheeling Traction 1st mtge
$2,500,000 ($1,000, $500) Int. at Cleveland Trust Co., Cleveland, trus.
and Int. at Nat. Bk. of Commerce, N. Y.
gold
c*tf
1913
5 J-J
170,000 Jan
1 1943
80-Year gold 5s $10,000,000
—
~
—
*
-
-
c&r\Int. at Colonial Trust Co., Pittsburgh, trus
Equip, trust notes ($40,000)
Dec 1 1916 5/4
12.000
See text
Equip trust notes $125,000--- 1918
6 M-S
75,000
See text
Wheeling Bridge Co $200,000/ 1890
5 g J-J
200.000 Jan
11921
1st M cannot be called.ntf I Int. at Fidelity T. & T. Co.. Pittsb., Trustee
Panhandle Tract Co 7% stkf
1918
7% D-J
309.530 Dec 1 1921
gurch notes call at oar.ntf I Int. at Dollar Sav. & Tr. Co.. Wheel'g, Trus.
eeling Bridge Co 6% stk] 1918
6% F-A
162,566 Feb 1 1921
purch notes call at par__tf lint, at Dollar 8av. & Tr. Co., Wheel'g, Trus
Wheeling & Western Ry Cof 1906
5 g M-N
235,000 May 1 1926
1st M 5s $500,000 ($1.000)'Guar., p. & I., by Wheeling Traction Co
Red
at
102
c*_ntf|Int. at Dollar Sav.&Tr. Co., Wbeel'g.Trua
I
Bellaire
S
W
Tr
Co
Guar., p. & L, by Wheeling Traction Co.
1st
Mf 1906
5 g M-N
65,000 Nov 1 1926
r&c»( Int. at Dollar Sav. & Tr. Co.. Wheel'g, Trus
'Guar p. & i. by Wheeling Traction Co
Bonds.—First mtge. bonds are red. on any int. day at 105 and interest
V $500,000 (SI.000)Red. at 102 and Int.
30]days* notice.
V. 95, p. 619.
The 30-yr.gold 5% bonds are for re¬
tiring 1st M. bonds of Wheeling Trac. Co., Bellaire S. W. Trac. Co., Wheel¬
ing & Western Ry Co., Panhandle Trac. Co., Steub. & Wheeling Trac. Co.,
and for extensions and betterments.
Red. at 105 and accrued int. at any
upon
V. 96, p. 1491.
The $170,000 outstanding are all owned by
the West Penn Rys. Co.
The Wheeling Bridge Co. 6% stock purchase
notes originally matured on Feb. 1 1918, but were renewed for 3 years.
int.
Panhandle Traction Co.
»
Owned, leased and operated by Wheeling Traction Co.
46xchskn^6s<
Irwin,
115
period.
Incorporated May 24 1900 in West Virginia.
acquired by the Wheeling Traction Co., which
In Jan. 1906 control
was
owns entire stock.
Outstanding.
Maturity.
Stock $500,000 ($100)
$500,000
FLvrt mortgage $500,000 gold! 1902
5 g A-0
500,000
Oct. 1 1932
(S1.OO0 and $500)
c*ntf lint, at Columbia Tr. Co. N. Y., trustee.
Equip, trust notes
1919
6%
90,000
See test.
STOCK AND
BONDS—
now
interest.
Date.
Bonds.—Are subject to call on any ,1m
date at oar and Int on 30 days'
The equip, notes of 1919 were purchased by the Wheeling Trac.
due serially $10,000 per annum each Oct. 1 from 1921 to 1929.
Are seemed by 9 passenger cars.
$10,000 have been retired.
notice.
Co.,
are
ROAD.—Operates 19.19 miles of track from Wheeling to Lazeareville,
mostly on private right of way.
County franchises are perpetual.
26 cars.
Standard gauge; 70-lb. T and 90-ib
west
penn
trirder rail.
;
power co.
ORGANIZATION.—Incorp.
Mar.
1
53 electric light and power companies.
1916, in Penna., as a merger of
The company was organized for
the pmpose
of consolidating under single fee ownership the principal electric
light and power properties within the State of Penna. formerly owned by the
West Penn Traction Co. now West Penn Rys. Co.
The West Penn Power
Co, conducts over 90% of the light, heat and power business of the West
Penn System.
Its chartered territory in western Pennsylvania exceeds
4,000 square miles.
113 cities and towns, each with population more than
1;000 together with 178 smaller towns and communities are served.
The
population of all communities served is in excess of 500,000.
The franchises under which company operates, with exception of those
in a few smaller towns from which the company derives less than 1% of
gross earnings, are unlimited as to duration.
On Dec. 10 1919 the Butler Light, Heat & Motor Co., all of whose capital
stock was owned by West Penn Power Co., sold all of its property and fran¬
chises to the West Penn Power Co.
Oovt. Advance for Power Plant.—In Aug.
1918 the co. agreed to build a
40,000 k.w. station In the Allegheny Valley to help out the power situation
In the Pittsburgh district which had proven inadequate to meet the Govern¬
ment's needs.
The cost of the plant and transmission lines aggregated
over $6,022,500, of which the Ordnance Dept. advanced $2,409,000 and the
co. provided the remainder.
In Dec. 1918 the co. brought out an issue
of $3,000,000 series "C" 1st mtge. 6% bonds, which was applied to this
purpose.
V. 107, p. 2296.
Provision was made for repayment to the
Govt. 3 years after the war of such part of the Government's advance
as represents the excess of the appraised reduplication cost as of that time
over the amount contributed by the co.
V. 107, p. 702; V. 109, p. 2446.
A supplemental contract, however, has been made with the Govt, in lieu
of leaving contingent the amount of refund, under which, we understand,
the co. has been allowed to retain one-half of this sum to cover future
depreciation and obsolescense, the remainder, $1,204,500, to be repaid to
the Govt, with int. at from 5% to 6%, in annual installments from 1923
to 1930, incl.
The co. has entered into an indemnity bond for Its faithful
performance of this contract and such bond Is secured by a second mtge.
on its properties.
V. Ill, p. 396.
The first unit of this plant was put
in operation early in Sept. 1920.
•
In July 1918 issued $2,223,000 1st M. series "O" 6% bonds proceeds
being used in the retirement of $2,000,000 6% coll. notes due Aug. 1 1919,
and called for redemption on Jan. 1 1919 at 100/4 and int., and for impts.,
betterments and extensions.
V. 107. p. 403. 1925
In Aug. 1920 $3,000,000 1st M Series "D" 7% bonds were issued to reim¬
burse the. co. for expenditures made in connection with the Springdale
j/*
power station. _V. Ill, p. 396..
Date.
Interest.
STOCK AND BONDSOutstanding
Maturity
Oommon $10,000,000 ($100)..
$10,000,000
Pf 7% cum $10,000,000 ($100)
2.985.000 Nov 20.1 U
q-fT
5 M-S
1916
First mtge gold series
8.500,000 Mar 1 1946
"A"
6 g J-D
First mtge gold series "O" ( 1916
5,278.000 June 1 1958
1916 7 g F-A
First mtge gold series "Df"
3,000,000 Mar. 1 1946
$1.000)—
c*&r*tf)Equitable Trust Co., New York, trustee
5-year conv debs $2,500,000/ 1919
6 g J-D
2,500,000 Dec. 1 1924
($1,000) gold..
c*tf {Chase National Bank, N. Y., trustee.
Stock.—Pref. stock is red as a wdoie or in part at, 115 and accrued div
>n any dividend date upon six months' notice.
See v 102. p. 2082
Bonds.—The bonds are a lfct M. on ail the physical property, rights
and franchises now owned or hereafter acquired and on the capital stock and
all the indebtedness.
The company covenants to construct or acquire not
later than Jan
1 1921 a new power plant or plants having an aggregate
generating capacity of not less than 40,000 k. w., to be subject to the 1st
M. lien of these bonds.
Such a plant was nearing completion Oct. 1920.
Additional bonds may be issued at par for 75% of the actual cost of per¬
manent impts., additions or extensions under certain restrictions.
Series
"A" bonds are red. as a whole or in part on or after Mar. 1 1921 at 105
& int. on 4 weeks' notice.
Int. on Ser. "A," "C'.and "D" payable at Equi¬
table Trust Co., N. Y., or Cont. & Comm. Tr. & Sav. Bank. Chicago.
Taxexempt in Penna.
The series "C" 6s are red.\all or in part beginning June 1
1923 on the 1st day of Mar., June, Sept. or Dec. upon 4 weeks? notice
at 106 and int. V. 107, p. 403.
The series "D" 7s are red. all or in part
opavivut
T
•
xxx
»
.
on and after Mar. 1
1921 and to and incl.
Feb. 28
thereafter to and incl.
Feb. 28 1931, at.105; thereafter to
29 1936, at 104; thereafter to and incl. Feb. 28 1941, at
102/4: and thereafter to maturity at 101.
V. Ill, p. 396.
The mtge.
provides for an annual expenditure for maintenance as follows: 1916-20,
1/4% of bonds out; 1921-25, 2%; 1926-46, 2/4%; also for a depreciation
fund of 2% of bonds out beginning with 1916 for additions, impts., &c.,
against which no first mtge. bonds may be issued.
V. 102, p-. 891.
Both
series "A" and."C" are listed on N. Y. Stock exch. Compare V. 108, p. 1827.
The 5-yr. 6% debentures are convertible at holder's option into 7% cum.
pref. stock of the co. at any time between Dec. 1 1920 and Dec. 1 1924, in
the ratio of 10 shares of stock for each debenture.
Are red. all or in part
on 30 days' notice at 101 and int. to and incl. Dec'. 1 1921; at 100/4 and int.
thereafter to and incl. Dec. 1 1923, and at 100 and int. thereafter to mat¬
urity.
Int. payable in N. Y. or Chicago.
Tax-exempt in Pennsylvania*
V. 109, p. 2446.
Thvtdends.—Divs. on pref. stock nave been paid since organization.
EARNINGS.—For years ending Dec 31:
Net aft.
F zed
Pref.
Com.
Bal.
on
4 weeks' notice
1926, at 107;
and incl.
Feb.
.
„
.
Gross.
Cal. Yr.-—
Taxes.
$
$
Chgs.
$
Divs.
$
(7)192,500
1918::::::::5.670.767 2,137.837 992.042 <7)192.500
1919
-
.*..6,203,109 2,199.371 975,841
Divs.
$
Surp.
$
<8)800,000 231,029
<7)700.000 253,29?
116
ELECTRIC
RAILWAYS
I r £ >PKRTY.—The physical property owned, directly or through ownerf mt all securities, by the West Penn Power Co., includes seven electric
ene a
ng stations with an aggregate installed capacity of 53,415 k. w.
name
plate
rating), 91 substations having a transformer capacity of
10.370 k. w., and 459 pole miles of high tension transmission lines (26 miles,
32.0JJ v.,
33 miles 22,000 v.), exclusive of low tension distribution lines,
'* ci ies and towns.
In addition to the foregoing the company*leases the
pov.plant of the West Penn Railways Co., located at Connellsville, Pa.,
whicu has an installed generating capacity of 58,500 k. w. (name plate
rating).
The company also leases 7.60 miles 22,000 volt transmission lines
and one substation with a transformer capacity of 1,500 k. w., and also
operates the plant of the Kittanning & Leechburg Rys. Co., with a capacity
or 600 k. w.
Of the installed generating
capacity directly owned, 30,000
k. w. consist of the company's one-half of the initial installation at the new
power plant at Windsor, W. Va., constructed jointly by the American Gas &
Electric
Co.
and
the
West
Penn
Power
POMEROY, OHIO.
OHIO
RY. & POWER CO.—A trolley road.
Receivership.—On Feb. 25 1919 Harry Hartwell was appointed receiver
co. by the U. S. Dist Court.
ORGANIZATION.—Incorp. In Ohio, 1914.
Old co. of same name, In¬
in Delaware in 1900, taken over by present co., subject to $315,000
Owns all th< capital stock ($30,000) of the Pomeroy
A Middleport Electric Co
Interest in Default.—The int. due Dec. 31 1918 on the co.'s 1st M. 5»
1st M. 5% bond issue.
is in default.
STOCK AND BONDS—
(1)
Pittsburgh Mars & Butler Ry.
OKGAln L/jj\ l ioN.
tiuccesboi
to
the
Pittsburgh A Butler
St. Ry., the
inter urban division of the Pittsburgh & Butler Ry., which was sold at fore¬
closure May 9 1917 (V. 104, p. lyOO).
On Sept. 5 1917 made a mortgage
to the Dollar Savings A Trust Co., Pittsburgh, securing an issue of $1,-
250,000 bonds to provide for improvements, &c.
Pittsburgh Butler A
Harmony Consol. Ry. & Pow. Co. owns all the $1,000,000 stock of the co.
and $200,000 of its 1st M. bonds.
The old Butler Passenger Ry., the City
Division of the Pittsburgh & Butler Ry. .was taken over by the 1st M bond¬
holders and reorganized as the Butler Rys. Co., which see under "Butler.
Pa."
Fares.—On Nov. 27 1918 filed
fare schedule with the Penna. P. S.
a new
Comm., effective Dec. 27 1918, providing for a passenger fare of 6 cents
Increases in package and freight rates were also provided for.
Earnings.—For cal. yr. 1919, gross, $390,402; net, $32,703; int. & taxes,
$62,167; bal., def., $29,464.
OFFICERS.—Same as Pitts. Butler & Harmony Consol. Ry. A Pow. Co.
above.—V. 105, p. 998; V. 106, p. 1578, 2346.
per zone.
(2)
Pittsburgh
Harmony Butler & New Castle Ry. Co.
ORGANIZATION.—Is
consolidation
a
in
1906
of several small
com¬
Date.
Common stock $200,000
1st pref stock $300,000----—
Interest.
Outstanding.
$150,000
-
1st mtge $315,000 gold
Maturity.
1900
$500, $1,000)
($100./
Year—
cal.
Net.
Oth. Inc.
$83,233 def.$2,005
108,943
1,967
1918
-
5 g J-J
315.000 July 11924
at Columbia Ave. Tr. Co.. Phila., Trust.
years:
Gross.
1919
150.000
jlnt.
c».ntf
EARNINGS.—For
unit will
PITTSBURGH BUTLER &
POWER CO.
ORGANIZATION.—Incorp. in Delaware.
Has acquired $2,745,000
of the $3,000,000 capital stock of the Pittsb. Har. Butler & Newcastle Ry.
Co.. all of the $1,000,000 capital stock and $200,000 of the $900,000 1st
M. bonds of the Pittsburgh Mars A Butler Ry. Co. and 1,900 shares of the
3,285 shares cap. stock of the North Pittsburgh Realty Co.
In March 1920 an announcement was made of a profit-sharing plan by
which $1,000,000 com. stock will be set aside under a trust agreement for
the benefit of the co's. employees.
V. 110, p. 1416.
STOCK.—
Date.
Interest. Outstanding.
Maturity.
Common $4,500,000-«
$4,500,000
Preferred $2,000,000
2,000,000
OFFICERS.—Pres., David I. McCahill; V.-P. A Gen. Mgr., H. Etheridge; Treas., R. M. Click.—V. 109, p. 1274; V. 110, p. 1416.
ELECTRIC
corp.
Co.
109,_p. 1899, 2446; V. Ill, p. 80, 396.
HARMONY CONSOLIDATED RY. &
RIVER
for the
The company has under construction an additional 20,000 k.w. unit at
the mew steam power station at Springdale on the Allegheny River, which
be ready for operation before Dec. 31 1920.
OFFICERS.—Pres., A. M. Lynn; V.-Ps., G. M. Gadsby and J. S.
Jenks; v.-Jr\ & bee., Raymond B. Keating; Treas. & Asst. Sec., C. C.
McBride, Pittsburgh; Asst. Sec., G. E. Murrie and W. K. Dunbar; Asst.
Treas., C. F. Kalp: Aud., M. W. Glover.—V. 107, p. 1925, 2296, 24K2;
T. 108. p. 1827, 2237, 2248; V.
[VOL. 111.
Int.&Taxes.
Surplus.
$31,785 def.$31,231
23,375 def. 19,345-
$2,559
2,063
ROAD.—Owns and operates 12.65 miles of road
Middleport. Pomeroy, Syracuse and Racine, Ohio.
extending
through
OFFICERS.—Pres., I. L. Oppenheimer; V.-P., F. W. Bacon; Sec.,
J. K. Trimble; Treas., Harry Williams Jr.
General office, Phila., Pa.
—V. 99. p. 1301.
PORT
CLINTON,
OHIO.
NORTHWESTERN OHIO RAILWAY & POWER
CO.
ORGANIZATION.—Incorp. in 1912 in Ohio to take over the Toledo
Port Clinton A Lakeside Ry. (V. 95, p. 48), which in April 1913 reduced
its capital from $1,800,000 to $1,500,000.
All of the $800,000 (authorized
and issued) com., $500,000 (auth. $700,000) pref. and $1,293,000 (auth.
$5,000,000) 1st M. 5s are owned by the General Gas A Electric Co.. wblch
see in our "Ry. & Ind." Section.
Operates a high-speed interurban electric
railway between Toledo and Bay Point, connecting by ferry to Sandusky, O.
Electric light and power is furnished in Ryan, Curtis. Clay Center, Genoa,
Elmore, Oak Harbor, Port Clinton, Gypsum, Danbury, Lakeside and Marblehead.
The power plant is near Port Clinton on the shore of Lake Erie.
EARNINGS.—For 12
Yr.—
mos.
Cal.
1919—
ending Dec. 31:
Gross.
Net {aft. taxes). Interest.
$61,976
$68.«17
348,515
54,868
69,200
Deficit.
$6,941
14.332
$366,399
—
1918
Latest Earnings.—For 12 mos.
end. Aug. 31 1920, gross, $415,688; net,
$70,313.
ROAD, Ac.—Operates 59 miles of track from Toledo to Elmore, Oak
Harbor, Port Clinton and Marblehead.
In addition operates a line during
summer months to Bay Point, 3 miles east of Marblehead, thus making
direct connections with Cedar Point and Sandusky.
In Toledo operates
on about 3 miles of Toledo Rys. & Lt, track.
Standard gauge, 70-lb. T rail
10 pass, cars, 2 express motor cars, 34 non-motor freight cars; total, 46 cars.
V. 95. p. 48. 176.
the
OFFICERS.—Pres., W. S. Barstow; V.-P. & Gen. Mgr., F. K. Woodirng;
Treas., O. C. Swenson; Sec., C. N. Wilson; Asst. Treas. & Asst. Sec., O. O.
Cash; Gen. Mgrs., W. S. Barstow Management Association.—V. 107, p. 83;
V. 108, p. 480; V. Ill, p. 589.
Owns all the cap. stock of the Harmony Elec. Co. and the ElwoodKoppel Bridge Co.
In Feb. 1910 authorized stock was increased from
$3,000,000 to $3,500,000.
Pitts. Butler A Harmony Consol. Ry. & Pow.
panies.
Co.
owns
Fare
$2,745,000 of the
Increase.—In
from 20 to 50%.
Dec.
V. 107, p.
rates
2377.
through tickets
were
increased
In Dec. 1919 commutation fares and
Date.
Interest.
Outstanding
Maturity.
$3,000,000
gold] 1906
5 g J-D
2,900.000 June 1 1936
c*tftint, at Union Trust Co., Pittsburgh, Trustee
($1,000)
ORGANIZATION.—Incorporated In New York
over
•old
stuck and bunds—
bonds.— The $600,000 unissued are reserved for future extensions.
EARNINGS.—For 12 months ended;
Year—
Gross.
Net.
Int. & Taxes.
Surplus.
$1,109,422
$202,218
$364,265
657,683
<190,550
393,890
KUAD.
v^peratet. 68.6 miiea of track from Plttsbuign,
via Wexiurd,
Evans City, Harmony and Ell wood City, to New Castle, with a branch from
Evans City to Butler*
Enurs Pittsburgh over the tracks of the Pittsburgh
Rys. Co.
Un Dec. 3 1913 placed In operation an extension from Ellwood
City to Beaver Kalis, 6>$ miles.
OFFICERS.—Same as Pitts. Butler A Harmony Consol. Ry. A Pow. Co.
above.—V. 107, p. 2377; V. 108, p. 2529; V. 109. p. 1274.
and power business.
A Power Co.
$20,000
Mortgage $70,000 gold
Int.
Delaware &
TRACTION
Hudson Co
owns
CO.-A
trolley
Date.
Interest.
Outstanding.
Maturity.
$19,985
c»\
on any
Interest day
ROAD.—Operates 3.985 miles of track.
70-lb. T and 93-lD.glrde rrails.
cars.
OFFICERS.—Pres., Geo. H. Stephenson; Sec., M. F. Maury- Treas.,
C. C. Corwin; Mgr., Chas. C. Wagner.—V. 88, p. 158, 296; V. 99, p. 271,
PORTLAND, ME.
COUNTY
POWER
&
LIGHT
CO.
ORGANIZATION.—Incorp. In Maine March 14 1907.
On Feb. 1 1912
RR. Co.
V. 94, p. 826.
In July 1912
acquired all the properties, rights and franchises of Consolidated El. Lt. Co.
of Maine, Portland Lighting & Power Co. and Portland Electric Co.. which
cos. were previously controlled through stock ownership.
On Dec. 18 1912
purchased capital stock of the Ossipee Valley Power Co.
On Feb. 1 1913
acquired practically all the common stock of the York Power Co., con¬
trolling the York Lt. & Ht. Co.
V. 97, p. 368.
Owns approximately onethird of the capital stock of the Androscoggin & Kennebec Ry. Co.
In. April
1913 the Ossipee Valley Pow. Co. and the York Pow. Co. were merged,
forming the York Co. Pow. Co. Also controls the Westbrook El. Co. Does
entire electric light and power business of Portland and vicinity.
Through
subsidiary companies operates street railway systems of Portland and South
Portland, with lines to Yarmouth, Cape Elizabeth, Saco, Old Orchard,
Westbrook, Gorham and South Windham.
The electric light and power
business in Biddeford, Saco, Old Orchard, Kennebunkport, York Harbor,
Alfred, Sanford, Springvale, Freeport, Westbrook, Gorham; also gas in
leased for 99 years the Portland
road
entire stock and bonds.
•ORGANIZATION, Ac.—Chartered May 27 1896.
Franchise 50 years
from Nov. 20 1895.
Capital stock, $100,000 (par $100;.
First mtge. 6%
gold bonds of 1896, due 1926; int. J. A J. (tf) at Continental Trust Co.,
N. Y., trustee; authorized, $100,000; issued, $80,000
Dividends.— Annual div. in (Jan.) 1910. 4%; in 1911, 5%; in 1912, 6%
in 1913. 5%; in 1914, 4%, in 1915. 4%.
None since.
EARNINGS—
Gross
Net
Other
Taxes <3$
Balance.
Year Ending—
Earnings.
Earnings.
Income.
Churytd.
Surplus.
Dec. 31 1919
37,766
11,416
752
8,306
3,862
Dec. 31 1918
33.907
9,409
612
8,326
1,695
Dec. 31 1917
38,878
10,462
519
8,133
2,848
ROA1 .-—(. wns 7.53 miles of track; 15 cars; rail, 50 to 80-lb. T.
OFFICERS.—Pres., L. F. Loree; V.-Ps., W. H. Williams, N. Y., W.
B. Schofield and H. B. Weatherwax, Albany; Sec., F. M.
Olyphant; Treas.
A Gen. Mgr., H. L. Barber,
Plattsburg; Comp., W. E. Eppler, N. Y.;
and D. L. Waters, Albany.
f
PLYMOUTH,
RR.Co.
5 g A-O
70.000
1960
pay. at office of trustee/Orange Co. Tr. Co.,Mlddletown,N.Y.,Trus.
CUMBERLAND
PLATTSBURG, N. Y.
&
was
-
Bonds.—Subject to call at 105
7
June 1 1910 to take
Power Co.
also Incorp. to take over the light
The bonds of the Traction Co. are owned by the Light
STOCK AND BONDS—
Stock
Nov. 30 1918
on
the railway business of the Port Jervis Elec. Lt. Pow
Gas
at auction on Jan. 27 1909.
The Port Jervis Light A
($118,000 stock, $188,000 bonds)
Nov. 30 1919
PLATTSBURG
JERVIS, N. Y.
PORT JERVIS TRACTION CO.
on
freight rates were increased.
Stock $3,600,000
1st
rntge
$3,600,000
PORT
stock.
cap.
1918
Biddeford and Saco.
t ranutises.—
in«
franchises
under
which
the
companies
operate
are
stated to be exceedingly liberal anu to have no burdensome restrictions.
Fares.—In July 1918 the P. U. Comm. refused to grant a 6-cent fare
fare within the old city limits of Portland and an 8-cent fare to suburbs.
MASS.
In the latter case the company was authorized to put into effect a 6-cent
fare and a rate of 2 cents per mile was fixed for riders to more remote
places.
V. 107, p. 501.
Effective June 16, 1919 the co. was auth. by the
P. S. Qomm. to increase fares in Portland and vicinity from 6 to 7 cents and
changed
to raise the single zone fare from 2 to 2 1-3 cents. V. 108, p. 2433.
In
as above.
Does electric railway business from Brockton to Plymouth and f
Aug. 1920 was auth. to increase ticket fares from 7 to 8 cents and cash fares
in the intervening towns.
In Fe&rT907 Mass. RR. Commission granted
from 9 to 10 cents. V. Ill, p. 692.
authority to do a freight business in the towns of Whitman, Hanson and
$109,000 York Lt. & Ht. 1st M. 4>£s, due Oct. 1 1920, were paid in cash
Pembroke
franchise perpetual.
at maturity.
Financial Aid.—In Jan. 1919 the Mass. P. S. Comm., upon petition of
STOCK AND BONDS—
Date.
Interest.
the towns of Hanson, Kingston, Pembroke and Plymouth, auth. them to
Outstanding.
Maturity.
Common $2,700,000 ($100)
$2,696,800
Q-M
contribute to the cost of operation and fixed charges of the co. to not exceed
8ept'17,l
Pref $2,300,000
2.300.000 May 18.1
($100) 6%/
G-F
$1 per thousand of the >preceeding years assessed property valuation.
cum red at 120 & accr divl
V. 108, p. 478.
Compare V. 108, p. 76.
1st & ref mtge $10,000,000/ 1912
5 M-S
2,918.000 Sept 1 1942
Fare Increase.—In Dec. 1918 the co. notified the Mass. P. S. Comm. that
effective Jan. 1 1919 it would increase fares from 6 to 10 cents.
gold ($1,000)
c*tf [Empire Tr. Co., N. Y.. Trustee.
V. 107,
Port El Co pref stk $500,000!
See text
Q-F
500,000
p. 2475.
STOCK AND BONDS—
Date.
($100) 6% cum (see text)ntf\C. O. Bancroft, Portland, trustee.
Interest
Outstanding.
Maturity.
Port Elec CoIstM $1,500,0001 1906
5 g F-A
Stock com $^95,000 ($100)
1.209.000 Aug 1
1926
$295,000
Pref $110,000 ($100) 6% cuml
g
($1,000) sink fd
cHf/Int. at Portland Trust Co., Portland, Trus.
Portl Ltg A Pow first cStgel
1901
4H A-0
500.000 April 1 1921
(redeemable at 112)
110,000
See text
]
6 M-S 15
First mortgage $300,000 gold\ 1900
$750,000(crsd) ($l,000)ctf Unt. at American Trust Co., Boston, Trustee.
4H g J-D
260,000 Dec 1 1920
Consol El Lt Co of Me 1st M / 1900
4HgJ-J
500,000 Jan 1
1925
($1,000)
cT.ntf J Int. at Old Colony Tr. Co., Boston, trustee.
($500 and $1,000) gold.c.tf (Int. at Union S. D. A Tr. Co., Portland Trns
Bonds.—$35,000 bonds in addition to amount reported outstanding are
BROCKTON
&
PLYMOUTH
ORGANIZATION.— Chartered
STREET
RAILWAY.
Jan. 3 1900
as the Pembroke St. Ry.
In Sept. 1900 was consolidated with the Plymouth & Kingston Street
Ry.
and tne Brockton & Plymouth Street Ry., and in Nov. 1900 name
_
_
_
on
.
held in treasury.
Dividends.— An initial dividend—3%—was paid on pref. Sept.
Nont since.
York
15 1909.
Same amount seml-ann. to and incl. Mar. 1916.
EARNINGS.—For
12
months
ending Dec. 31:
Gross.
Exp.&Tax.
Net.
Interest.
Balance.
$101,430
$ft6,318 df.$14,889
$16,833
def.$31,721
1917
124,316
124,779
def. 463
14,755
def. 15,218
ROAD.—Plymoutli tnrough Kingston, Pembroke and Hanson co Whitman, 24.3 miles of track.
28 pass, and 9 other cars.
Standard gauge.
Power station capacity of 825 k. w.
OFFICERS.—Pres., A. Stuart Pratt; V.-P., Chas. I. Litchfield; Clerk,
Wm. T. Crawford; Treas., Henry B. Sawyer; Gen. Mgrs., Stone A Webster
Mgt. Assn.; Mgr., Montelle C. Smith.—V. 102, p. 1810; V. 103. p. 1031;
Y. 104, 9- 1898; V. 107, p. 2475; V. 108, p. 76, 478; V. 110, p. 2657.
Year—
1918
County
Power Co.—
Agamenticus El Lt 1st M_c_tf
1910
5
Wells El Lt&P IstMc
tf
Kennebunk El Lt 1st M.c.ntf
1910
1910
5 g J-J
J-J
46,000 July 1 1930
7,500 Jan 1
1930
63,000 July 1 1930
York Lt & Ht 1st cons ref Mj 1907
359.000 April 1 1927
5 A-O
(closed) ($500 & $l,000)ctf lint, at Un. S. D. A T. Co., Portland, Trus.
York Co Pow 1st A ref M $2.1913
5 g J-D
368,500 Dec 1
1943
500.000 ($500A$1.000)c*tf lot. at Portland, Me., and N. Y. City.
Fidelity Tr. Co., Portland, Me., Trustee.
York Co Pow pref stock cum/
6 Q-J
383.000
,
Guar.
(guarbyCCP&L)
—1
Stock.—Both classes of stock are listed on the Boston Stock Exchange.
V. 95, p. 1206.
The company has the option at any time to redeem all or
_
g
5 g J-J
_
part of the
Portland Electric Co. pref. stock at 115 and accr'd div.
on
IS
OCT., 1920. |
ELECTRIC RAILWAYS
117
days
notice, and may at any time, with consent of
owner, red. pref. stock
at less than 115.
Pref. stock of the Portland Elec.
Co. falls due and is paya¬
ble on Aug. 1 1926 at
par and accrued dividends.
$4,082,000 are for ext., impts., &c., under
•certain restrictions.
Callable as a whole on
any interest date at 105 and
interest on 60 days notice.
Bonds have a depreciation and trust
fund from
Julyl 19i5 of 1% per annum of bonds
outstanding, but not less than
520,000 a year for purchase of bonds at not over
105 and int. or for replace¬
ment, extens. and add'ns.
Int. payable at A. B. Leach &
Co., N. Y.
V. 95, p. 361.
Portl. El. 1st mtge. bonds are callable
at
tot.
on
5 weeks
distributed
as per the
reorganization plan.
See above and also V. 110,
1089.
The 1st pref. stock is cumulative after 1922.
Bonds.—The co.'s 1st M. bonds due 1940 were issued in exchange for a
like amt. of Lew. Bruns. & Bath St.
Ry. 1st M. 5s, due Mar. 1 1920.
All
the underlying mortgages are closed mortgages.
The Augusta
Winthrop & Gard. Ry. gen. mtge. 5% bonds of 1905 are subject to call at
par on any int. day on 60 days' notice.
The Aug. Winth. & Gard. Ry.
1st M. 4% bonds are exchangeable for
4% pref.. stock of the same
p.
110 and accrued
notice as follows: Nos.
1 to 125
$1,708,200 2d pref. stock Is to be held by the Lewiston Augusta & Water¬
St. Ry. 1st & Ref. M. bondholders' committee in a
voting trust.
When the rehabilitation program has been
completed (or sooner with the
committee's consent) the stock will be released from the
voting trust and
ville
:
Bonds.—Of the remaining first and
refunding mortgage bonds, $3,000,000
are reserved for prior
liens, and
and after Aug. 1 1911;
375 on and after |Aug. 1
1% p. a. of bonds out began Aug. 1
1911, inclusive
any bonds purchased
for or redeemed by
sinking fund. $291,000 (not
included in amount
outstanding) in sinking fund.
V. 90, p. 1243. ' Of
the $2,500,000 York
County Power bonds, $747,500 have been certified
and are guaranteed by the
Cumberland County Power & Light
Co.. and
of this amount
$368,500 are outstanding in the hands of the
public, $150,000
in the treasury of the
Cumberland County Power & Light Co. and
f 229 .OWintreasury of York County Power Co. Of the remaining $1.752.500; $719,500 are reserved for
underlying liens and $1,033,009 for additions
and
xl919—
interest date
xl918—
128*40 a?°7 ?n ^ndJaft.e^ug* 1 1916 and
Sinking fund of
Bonds
improvements.
are
on
co.,
which stock has the same security as the bonds and matures at
the same
time.
$97,000 have been exchanged.
Subj. to call at 104 and int. on any
int.
The Aug. H. & Gar. gen. M. 4% bonds are
251
1921.
redeemable at
105
on
any
¥p?n,§° daYS n°ticeItr 1? ^-1 Yi d2'-nP'
Wells El
Lt. &
exchangeable for 4%
pref. slock of the same co., having the same security as the bonds and ma¬
turing at the same time.
$194,500 have been exchanged.
Callable at
104 and int. on any int. date.
EARNINGS—For years ending Dec. 31:
Sinking fund of H of 1% of bonds out began Dec. j
159'$43,500 Agamenicus El. Lt., $22,500
and $37,000 Kennebunk El. Lt.
Co. bonds, in [
amounts
Pow. Co.
Gross.
Expenses
Earnings
&
Taxes
.$1,096,151
$942,463
894,784
791,107
Net Aft.
Balance
Taxes
Int., dec
$198,473
227,609
$153,688
103,677
Sur.orDef.
,
def.$44,785
def.123,932
1918 and 9 mos. to Sept. 30 1919 are
operations of Lewiston Augusta
& Waterville St. Ry. Co.
x
addition to the
reports! outstanding, are held by the trustee i
14,171,526 passengers carried in cal. year 1919 against 12,873,991 in 191$.
of the York-Co. Pow. Co.
All three mtges. are closed.
Guar, by York 1
Ce. Pow. Co.; int.
payable at Union S. D. & Tr. Col., Portland, trustee.
ROAD.—Operates a system in and between Waterville, Augusta, WI»York Lt. & Ht. Co. 1st cons. ref.
throp, Togus, Gardiner, Sabattus, Lewiston, Auburn, Mechanic Falls,
bonds have a sinking fund which
began
April 1 1911 of 2% of gross income; $32,000 are held in
Brunswick, Freeport, Yarmouth and Bath.
157.138 miles of single track.
sinking fund.
101 passenger, 58 freight and express cars, 11 snow plows and 23 misc.
Dividends.—6% p. a. was paid on the pref. stock from Feb. 1 1912 to
cars;
May 1 1918. both incl.
total, 193 cars.
Has one steam plant with an installed
None since.
The May 1 1918 dividend was
capacity of 50® k.w.
paid
In scrip.
Initial div. of 1% paid on com. Dec. 1
1916; same rate quar.
OFFICERS.—Pres., Wm. B. Skelton; V.-P. & Counsel, Wm. H. New¬
to Sept. 1917.
None since.
ell; Treas., Miss G. E. Fritz, all of Lewiston, Me.
V.
109,
EARNINGS.—Of combined properties for
Co/.
Gross
Year—
Net (after
Taxes.)
Earnings.
$2,768,600
3,226,900
*1919
1918-
&c.
$954,666
925,736
ending Dec. 31:
Preferred
Com. Divs.
plants
the Saco and
Presumjpscot rivers within 25 miles of Portland and 6 steam
plants, combined capacity 26.010 k. w., with transmission lines to
Portland, covering entire city and suburbs; also to
Sanford, Me., aggregat¬
ing 108 m
The single-track mileage of the controlled
railways is 271
power
OFFICERS.—Pres., H. M. Verrill; V.-P., Frank D. True; Treas. & Clerk*
Ohas. F. Berry; Sec. & Asst.
Treas., C. A. Pearson Jr.
Under management
of E. W. Clark & Co.
Mgt. Corp.V. 107, p.
2097, 237$; T. 1-8, p. 2433;
199, p. 268.
(1)
Portland
Railroad.—Trolley.
Fares.—In
Jan. 1919 the Maine P. U. Comm. auth. the co. to
charge a
on all city lines with a minimum cash fare of 10 cents.
Auth. to establish a zone system, in order to
equalize the length of rides for
the fares charged, was also
granted.
V. 108, p. 269.
I* Jan. 1919 the
"tate Supreme Court denied an
injunction to restrain the company from
ollecting a cash fare when no ticket is offered.
V. 108, p. 481.
■6-qent ticket fare
STOCK AND BONDS—
st cons
Date.
'
Interest.
Outstanding.
gold
&
cons
$7,500,000
1915
$500).c*tfUnt.
5 g M-N
New
at
Gross
1919--.—1918
Deduc-
Dividends
Hons.
$267,326
228,419
(5%).
$247,720
238,724
$99,950
99,950
1945
OFFICERS.—Pres., Fred. N. Dow; V.-P., Charles H.
Berry.—V. 108,
p.
269, 481; V. Ill,
Surplus
or Deficit.
def.$80,345
Prescott; Clerk
p.
190. 692.
ANDROSCOGGIN & KENNEBEC RY.
Cumberland County Power & Light Co. owns
approximately one-third
of the co.'s capital stock.
ORGANIZATION.—Organized early in 1920 as successor to the Lewiston
Augusta & Waterville St. Ry. as per reorganization plan outlined in V.
110, p. 1089.
The co. is now the owner of the properties
formerly included
under the Lewiston Augusta & Waterville St.
Ry. 1st & ref. mtge. (ex¬
cepting the franchise of the Turner line, which line we understand has
been taken over by the town of
Turner, V. 110, p. 1188, subject to the
underlying liens found in the table below.
Holders of each $1,000 Lewiston Augusta & Waterville St. Ry. 1st & ref. bonds
received in exchange
therefor $500 1st pref. and $581 2d
pref. stock of the present co.
For
statement of predecessor co. see "Electric
Railway" supplement of Nov.
15
J
Dana, Sec., 57 Exchange St.,
Portland, Me.
Depositaries: Fidelity Trust Co., Portland, Me., and
Fidelity Trust Co., Philadelphia.
V. 110, p. 970.
Fare Increase.—In Aug. 1920 the co. was auth. to increase fares
to 9 cents
cash with 6 tickets for 50 cents.
STOCK AND BONDS—
V.
1st mortgage bonds
Securities of the Aug.
Aug. H. & G.
Ill,
Date.
p.
Outstanding.
—
1st & refund mtge $5,000,000?
($1,000 and $500) gold—tf
Maturity.
{
Lewiston & Auburn El Lt mtge
5 A-0
1,940,500
Oct
11934
at Union Safe Dep. & Trust Co.,
land, trustee.
5%
1,200.000
Port-
June 1 1939
Bonds.—$1,200,000 1st & ref. M. 5% bonds are reserved to retire the
Lewiston & Auburn bonds; remainder may be issued for
80% of cost of new
work under conservative restrictions.
Not subject to call.
V 102 p. 607.
and
8 flat
cars.
RAILWAY,
LIGHT
&
POWER
CO.
In Salem for $355,333 and the Wlllamet'e Falls
Ry., 9 milas in length, for $170,000.
In May 1914 purchased the Yamhill
Electric Co.
In Jan. 1914 acquired a majority of the $1.000,000 com stock
of Willamette Val. Southern Ry.,
Incorp. In 1911 to construct a road from
Oregon City to Angel City. 32 miles.
Line was placed in operation on
Jan. 31 1915.
Regular passenger service from Portland to Mt. Angel In¬
augurated Oct. 23 1915.
With the exception of two Interurban lines the
company operates all the electric railways in Portland and vicinity. Includ¬
ing interurban lines to Oregon City. Troutdale, Cazadero and Bull Run,
Ore., and over the new inter-State bridge to Vancouver. Wash
Does most
of the electric light and power business of Portland and
vicinity: also all of
the electric light and power business in Salem, Oregon
City. Silverton,
Woodburnand many smaller communities in Ore. and In Vancouver.
Wash-,
and operates the gas
plant in Salem.
Power is sold to the two Interurban
lines above mentioned, to the Southern Pacific, and also to the
companies
operating the street railways in Salem and Vancouver.
The Yamhill Elec.
Co. supplies electric light and power service to Newberg and other
points in
YamhillCounty.
Railway franchises in Portland expire in 1932 and 1933.
Light and power franchises in Portland and Salem are
perpetual: in Van¬
couver they expire In 1927.
Has franchise to carry freight in Oregon City,
expiring in 1926.
In Dec. 1916 obtained a franchise to
operate over the
new bridge
connecting Portland, Ore., and Vancouver, Wash.
One-half
the profits are to go to Clark and Multnomah
counties, by whom the bridge
was
built.
The company's transmission lines and a
large part of the
Interurban railway are on private right of way.
On March 15 1911) the Oregon
Supreme Court handed down a decision
which in effect sustains the franchise covering
portions of 40 streets passed
by City Council April 28 1909 over the Mayor's veto.
See V. 90. p.
On Feb. 21 1913 a franchise covering about 22 miles of
streets, including
the proposed "7th St. Line." was granted.
The franchise expires in 1932
and contains a provision that at that time
appraisers may be appointed to
arrive at the value of the company's equipment, with a view to the
purchase
of the lines by the city.
V 96. p. 654
In Nov. 1912 the co. brought suit to restrain the
city from enforcing the
"straphanger ordinance" limiting to 3 cts. the fare charged passengers for
whom no seats are provided), and also the 50-cent minimum
gas and elec¬
tric rate ordinance.
A temporary Injunction against the enforcement of
the former was granted in Dec. 1912. but
application for an injunction to set
aside the latter was denied
by Judge Bean In the U. S. DIst. Court on Nov.
25, on the ground that the Federal Court has no jurisdiction
V. 95. p,
FavorabteDecision.—Judge Harris in the Supreme Court at Salem In May
1916 held void the ordinance requiring a tax of 3% on gross
earnings (V. 96.
p. 1157).
V. 102. p. 1718.
,
Valuation.—The Oregon P. U. Comm.
on
Apr. 30 1917 placed the valua¬
Increase its fares from 5 to 6 cents, tickets to be sold 5 for 30 cents and 50
for $2 75.
This schedule became effective Jan. 15 1918.
V. 106, p. 190.
$1,468,500
1,708,200
845,000 Mar
1914
j Int.
Maturity
500.000
tion of the company's property as of Dec. 31 1916 for
rate-making purposes
at $46,862,972. or about $14,000,000 less than the
co.'s valuation.
Seo
V. 104. p. 1900, and
compare V
103. p. 61
Fare Increase.—In Jan. 1918 the Oregon P. S. Comm. auth. the cc. to
None
6%
5%
1920
6%
Win. & Gar. Ry.—
gen. mtge.
I
989.
Interest.
Outstanding.
$1,500,000
...
1542. 1274.
1919.
Committee.—Bondholders First & Refunding Mortgage Lewiston
Augusta
& Waterville St. Ry., Henry W.
Cushman, Frank S. Silliman, Jr., Frank
|
D. True, C. Stevenson Newhall, with John F.
Common, $1,354,500
1st pref. (see text)$1,468,500 ($100)
2d pref. non-cum,$1,708,200 ($100)
Interest.
sold the railway
property
def. 110,255
Dividends.—The following divs. are on old stock prior to lease
Year.—
'95-'99. '00. *01. '02. '03. '04. '05. '06. '07-T1. Since.
Percent
6%
5
6
3
3
3
3
3H 4 y'ly
5 yearly
ROAD.—Operates 106.6 miles of track, comprising the entire street
railway systems of Portland and South Portland, with suburban lines to
South Windham. Saco. Westbrook,
Cape Elizabeth. Gorham Old Orchard
and Yarmouth, where connection is made with
the Androscoggin & Kenne¬
bec Ry.
214 passenger, 8 express and 69 others.
Two steam power plants
with 3,600 k.w. capacity.
-& Treas., Chas. F.
*
Date.
1906 and ha« pur¬
chased all the property of the Portland Ry. Co., the Oregon Water Power &
Ry. Co. and Portland Gen. Elec. Co.
V. 86. p. 1044.
On March 21
1912 acquired the Mt. Hood Ky. & Power Co.
V. 94, p. 983.
Duriny 1912
years:
Net (after
Taxes).
supply.
PORTLAND, ORE.
the remaining first lien & cons. M.
5% bonds, $1,600,000 are reserved for
retirement of prior lien bonds, $197,000 are in the
treasury and $3,941,000
extensions, impts., &c. Outstanding bonds are secured by
deposit of
$1,400,000 1st cons, (now 1st) M. 3Hs; are callable as a whole or in
part
at 105 on any int. date.
Earnings.
$1,513,500
1,216,358
water
STOCK AND BONDS—
Common stock $1,500,000
Preferred stock $500,000
PORTLAND
for
EARNINGS.—For calendar
pumping
ORGANIZATION.—Incorporated in Oregon June 29
Bonds.—Remaining $1,400,000 first cons, (now 1st) M. bonds are pledged
as security for the first lien & cons. M.
5s.
Bonds can he called at par and
Int. on any int. date after
July 1 1931.
V. 73. p. 139; V. 91, p. 871.
Of
Calendar
Year—
Interurban RR.
The interurban road is on private
right-of-way for
28 miles and on the highway for 2 miles.
Charters and franchises liberal.
Has favorable contract with
city of Auburn for lighting streets and ways and
Maturity,
1.959.000 Nov 1
Trust Co..trustee.
York
ton
OFFICERS.—Pres.. William T. Cobb. Rockland, Me.—V. 102. p.607.
5% gu ($100)
5 F-A
$1,999,000
See text
$3,000,000/ 1901
g J-J
1,600.000 July 1 1951
gold__c*tf\Int. at Portland Tr. Co. Portland, trustee.
($1,000 &
ORGANIZATION.—Incoro. in Maine Oct. 26 1914 and purchased the
properties of the Lewiston & Auburn Elec. Lt. Co. and the Portland Lewis-
fectric locomotive
(now 1st)
($1,000 & $500)
First lien
2439; V. 11®,
PROPERTY.—Owns developed water power at Deer Rips on the An¬
droscoggin River of 5.000 k. w. capacity, and operates under long and fa¬
vorable leases two developed water powers on the Little
Androscoggin River
of 750 k. w. and 350 k.w.,
respectively.
Also owns and operates 30 miles
Df high-speed interurban road
connecting Lewiston, Auburn and Portland.
Inters these cities over tracks of the local street railway
companies under
iperating agreements.
8 passenger cars. 2 baggage and express oars. 1
ORGANIZATION.—Incono. March 1860 under laws of Maine.
Ab¬
sorbed the properties of the Portland &
Cape Elizabeth Ry., Cape Shore
Ry., Cape Elizabeth St. Ry., Portland & Yarmouth Elec.
Ry. and Westbrook Windham & Naples.
Franchises contain no objectionable restric¬
tions; many are unlimited as to time.
■
p.
989.
EARNINGS.—For year ending Dec. 31 1918, gross, $558,436: net,
$263,919.
Railway dept. only, gross, $184,254; net, after taxes, $58,175.
In 1917, gross, $525,444: net,
$267,623.
Railway dept. only, gross, $165,656; net, after taxes, $51,306.
Lease.—Leased for 99 years from Feb. 1 1912 to the
Cumberland County
Co., lease providing for all Interest and other current
charges
and 5% divs. on capital stock.
Pow. & Lt.
ftock $2,000,000
Ill, p.
ANDROSCOOGIN ELECTRIC CO.
*Exel. Lewiston
V.
1088; V.
Bal.for
Dividend.
$672,252 (6)$138,000
$144,414
859,074 (6> 138,000 def.71,338
Augusta & Waterville St. Ry.
PROPERTY.—On July 12 1917 the co placed in
operation the first
section, containing a 3.000 k. v. a. unit of a new
generating plant on the
Sacu River at Hiram Falls, which is to have an
ultimate capacity of 20.000
k. v. a.
In addition, the co. owns or controls
5 hydro-electric power
on
969,
p.
year
Interest
Compare V. 105, p. 1618.
On Jan. 14 1918 the Comm. denied the citv's
petition to have the order suspended, or its operation postponed pending
11940
litigation in the courts, but ordered that receipt slips be attached to tickets
sold by the
company, which are to be redeemed for the amount of excess
con-/ 1901
4 g J-J
ntf\Int. at Augusta
55,500
July
1 1951
fare charged in tne event the courts declare the order invalid.
On Mar. 14
Tr. Co., Augusta, Trustee.
1918 the Circuit Court of Multnomah County, Wash-., upheld the ruling
194,500
July
1 1951
of the P. S. Comm. in granting the 6-cent fare.
The city has appealed
1902
4 g J-J
53.000
July
11952
to th6 Oregon Supreme Court.
See also V. 109, p. 2263.
Effective June 15
000conv($l,000&$500)gcntf \lnt. at Augusta Tr. Co., Augusta, Me.,Trus. t
1920, the Oregon P. S.Comm. issued an order fixing fares at 8 cents cash,
Aug Win & Gard pref stock—
4%
97,000
July
1 1952
with strip tickets at 6 for 45 cents and book tickets at 50 for $3 65. V. 110.
Aug Win & Gard gen M $125,-/ 1905
5 g J-J
100,000
Jan.
1 1935
p. 2568.
Effective Sept. 9 1920, the fare between Portland, Ore., and
000 ($500, $1,000) goldc ntf (Int. at Augusta Trust
Co., Trustee.
Vancouver, Wash., was raised from 15 to 17 cents. V. Ill, p. 1370.
'
Stock.—The co. expects during the next three to five
years to expend
Rates.—On Dec. 5 1918 was auth. by the Oregon P. S. Comm. to increase
about $900,000 upon its system for equip.,
impts., and rehabilitation. ' power rates, effective immediately.
V. 107, p. 2290, 2377.
Compare
Pending the completion of this program the $1,468,500 1st pref. and the
V. 107, p. 803.
vertible
($50OSl,OOO)
c
Aug. H. & G. pref. stock
AugWin & Gard 1st M $150.-/
—
4%
«
,
[Vol. 111.
ELECTRIC RAILWAYS
118
Interest.
Maturity
See text
Outstanding.
Q-M
STOCK AND BONDS—
Dale.
Common$15,000,000 ($100)--
/$ 15,000.0001
I 75% paid J
....
OFFICERS.—Pres., L. C. Gilman; V.-P. & Compt., W. F. Turner;
Sec., Robt. Crosbie; Treas., M. Barger; Gen. Mgr., A. J. Davidson.
V. 92, p.
5.000.000
prefS10.000.000curn(S100)
6%
5.000,000
do non-cum ($100)
0%
15.765.400 Feb
1 1942
Ry Lt & Pow 1st & f 1912
5 g 1 -A
ref mtge $75,000,000 goldHnt. at Fidelity Tr. Co.. Phila., Trus., Lee
(seetext
c*&r*tfl
Higgiason & Co., Bos.; Higginson & Co..
I
London. Eng.. and Columbia Tr.Oo.,N.Y.
323, 1311; V. 93,
1535; V. 95, p. 1274; V. 107. p. 2188.
p.
1st
2d pref
Portland
.
PORTLAND EUGENE & EASTERN RAILWAY.
April 1915 was absorbed by the Southern Pacific Co.
way and Industrial" 8ection.
In
See our "Ratl-
_
$2,000,000 ($1.-1 1919
7gJ-D
2,000.000
See text
000,$5,0(X & $10,000)g c tf Jlnt. at Guaranty Trust Co., N. Y., trustee
General mortgage
1918
6%
See text
Portland Ry 1st Ac refunding ( 1905
5g M-N
7.621,000 Nov 1 1930
mortgage $10,000,000 gold-J Interest at office of Redmond & Co., N. Y.;
($1,000) sink fund
-C*tfl
New York Trust Co., Trustee.
City Ac Sub con (now 1st) Mf 1900
4 g J-D
1,290,000 June 1 1930
($1,000) g (closed)
ccptllnt. at Secur. Sav. & Tr. Co..Port., trustee
Portland Gen El first mtgei
1905
5 g J-J
7.610.000 July 1 1935
(see text) gold ($1,000) c*tf lint, at Harris. Forbes & Co., New York.
Mt Hood Ry & Pow IstmtgeJ 1907
5 g J-J'
See text Jan 2 1937
$6,000,000 gi$l ,0()0)s f c*ntf i Unfpn Trust Co., San Francisco, Trustee.
Wfllam Vail So Ry 1st M ntf
1914
6 g F-A
727,500 Feb
1 1939
$3,000,000 ($100, $500 &<Int. at Cont. & Com, Tr. Ac S. i3k.. Chic.
$1,000 gu p i & s f c*ntf [
Trust., or in Port, or 1st Nat. Bk„ N. Y
Serial
Stock.—The stockholders on May
14 1915
by which
approved the plan
they surrendered 20% of their holdings in the then existing stock ($25,000,000, 75% paid), paying at the same time $25 in cash for each share so
surrendered, and received therefor pref. stock, share for share, one-half
($2,500,000) 6% cum. 1st pref. and the other half 6% non-cum. 2d pref.
The $5,000,000 stock surrendered in connection with the plan was can¬
celed.
Stockholders of record Feb. 1 1917 were given an opportunity to
convert a further $5,000,000 common into 1st and 2d pref. stock on the
same terms, which was accordingly done.
The 1st pref. stock issued in
1915 is cumulative from Jan. 1 1916; that issued in 1917 is cumulative from
Apr. 1 1917 and will receive no divs. until all accumulations on the first
$2,500,000 shall have been paid; thereafter all 1st pref. stock will be treated
alike.
V. 104, p. 1146.
(See also V. 91. p. 1328; V. 95, p. 1274.)
Com.
Is listed on the Columbus and Louisville stock exchanges.
Both issues of
,
198
pref. stock are pref. as to divs. and assets and red. at par.
Bonds.—Of the remaining Portland Ry., Lt. & Power unissued, $17,813,000 are reserved for prior liens and $34,114,000 are for additions, improve
ments, &c. Denom.: coupon bonds, $1,000, $500 and $100; reg. bonds.
$1,000, $5,000, $10,000 and $50,000.
Principal and interest also payable in
sterling, francs or guilders at fixed rates of exchange.
Callable as a whole
at 105 and int. on or after Feb. 1 1922 on 60 days' notice)
Cumulative
sinking fund 1% annually 1915 to 1926 incl.; 14% 1927 to 1941 incl. on
total amount Issued.
Bonds in sink, fund to be kept alive and int. added
to fund.
Convertible at any time at holders' option into capital stock at a
price equal to the amount paid in on such stock, plus $10 premium per
$100 share.
See V. 94, p. 631.
Bonds are listed on N. Y. Stock Exch.;
$6,009,000 are in treasury and $1,298,600 are held in sinking fund.
Portland Ry., Lt. & Power serial notes are due serially $5(30,000 annually
from Dec. 1 1920 to Dec. 1 1922.
Are secured by a pledge of $4,000,000
gen. M. 6s dated Sept. 2 1918.
$1,000,000 held in treasury.
Red. as a
whole only on any int. date at par and int. on 60 days' notice.
The Portland Ry. 1st & ref. M. has been closed at $8,523,000.
A sinking
fund began in 1907; the amount was $25,000 per ann. (payable Nov. 1)
from 1907 to 1909 incl.; $40,000 per ann. from 1910 to 1919 incl., and $60,000 per ann. from 1920 to maturity of bonds; these payments are based on an
original amount outstanding of $5,982,000, increasing proportionately as ad¬
19
ditional bonds
were
issued; said funds to be invested in the bonds at not more
than 105 and int., at which price bonds can be called for
to be kept alive and bear Interest.
Red. at 105 and
the purpose. Bonds
int. on any int. date
See V. 81, p. 1437.
The bonds are listed on the New York, Louisville and Philadelphia stock
exchanges.
V. 82, p. 806; V. 83, p. 1471.
are
60 days' notice.
upon
$902,000
are
in sinking fund.
The authorized amount of Portland
Electric Co. mortgage was
General
originally for $10,000,000, but mortgage has been closed at $8,000,000
$390,000 retired by sinking fund. Bonds are subject to call as a whole at
1074 and interest on 4 weeks' notice.
A sinking fund of 1% per annum
of bonds out commenced May 1 1915.
Bankers Trust Co., New York,
trustee.
They are listed on the New York Stock Exchange. V. 92, p. 1437.
$5,000,000 of Mt. Hood Ry. & Power bonds are deposited as collateral
under Portland Ry., Light & Power notes.
Sinking fund began Jan. 1912.
1% to Jan. 1916 incl.;, 14% 1917 to 1921: 14% 1922 to 1926; 14%
1927 to 1931: 2% 1932 to 1938.
Willamette Valley Southern 1st M. bonds are unconditionally guaranteed
(m to
principal, interest and sinking fund) by Portland Ry., Light & Power
Remaining $2,250,000 Issuable only under certain restrictions.
Sink¬
ing fund of 1% of bonds outstanding 1917 to 1923; 14% 1924 to 1931
and 2% 1932 to 1938.
$22,500 retired by sinking fund.
Company agrees
to refund 1% of income tax. Redeemable at 103 and int. on any int. date
on 60 days' notice.
V. 98, p. 1001; V. 100, p. 57.
Co.
Dividends.—On old com. quar. rliv. of 1% paid from Sept. 1909 to Jan.
1910 incl.
Initial div.—$1—bn new stock as adjusted per plan V. 91
6 1328, was$14. Mar. 1913, Mar., June and quar. to $14 incl. Sept. 1912;
paid In 1 1911; same amount Sept., and each. In Dec.
1912,
ec.
rate
portsmouth, ohio.
notes
was
reduced and $1 was paid (see
June, $1.
V. 97,
p.
1824).
Year—
Earnings.
& Taxes.
$5,491,493
5,127,035
1919—.$8,591,001
7,667,129
In 1914, March, $1
No dividends have been paid on the pref. stocks.
None since.
EARNINGS.—For years ending Dec. 31:
Calendar
Gross
Expenses
Net
Balance,
Surplus.
Interest.
&c.
$2,269,972
Earnings.
$3,099,508
2,540,094
$829,536
321.907
2,218,187
^104.179,597 passengers carried in cal. year 1919. against 99,805,867 in
ROAD.—Operates
a
total
of 343.3
miles
of
single
track
(of
whiqh
297.4 miles owned. 35.00 miles controlled through stock ownership and
10.9 miles owned by outside! interests).
Owns 619 passenger cars, 498
freight and miscellaneous cars and 10 locomotives.
Water-power plants
have a capacity of 42,880 k.w.; steam plants, 22,000 k.w. capacity.
Total
capacity 64,880 k.w.
Has 409 miles of high tension and distribution lines.
Owns a 9-story fireproof building in business centre of Portland used for
its offices, the only park and amusement resort near Portland; also real
PORTSMOUTH
STOCK AND BONDS—
Stock common
Date.
Interest.
i$l ,000&$500)redl02
Maturity.
Outstanding.
$250,000
250,000
$500,000
Preferred $250,000 (6% cum).
First
mtge
bonds $500,000/
6 g J-J
400.000
.
See text
Guaranty Tr. Co.. N. Y., Trustee.
1918 to 1934, both incl..
1914
_c*i Int. at
Bonds.—Are due serially $25,000 each July 1 from
and $75,000 July 1 1935.
V. 99, p. 1748.
EARNINGS.—For cal. year -1919, gross, $490,125; net, after taxes,
$149,266; other deductions, $106,086; net income, $43,180.
In 1918,
$469,059; net, after taxes, $125,195; other deductions, $47,371; net
income, $77,823.
In 1917, gross, $439,543; net, after taxes, $163,052; other
deductions, $34,600; net income, $128,452.
In 1916, gross, $312,430; net.
after taxes, $145,609.
» "
ROAD.—Owns and operates 32.8 miles of track, Incl. 2H miles leased.
29 cars.
70-lb. T rail.
OFFICERS.—Pres.. L. D. York; 8ec. and Treas., H. H
Higglns.—
gross,
•
V. 99, p. 1529, 1748,
1833;V. 100,
p.
142; V. 103, p. 1793; V. 110, p. 2658.
*
pottsville, pa.
RYS. CO.
PENNSYLVANIA
EASTERN
ORGANIZATION.—Incorporated in Pennsylvania in 1891 as the Tama& Lansford Street Ry., and name changed in 1906.
Controls the
following properties in Schuylkill County and vicinity and the lower an¬
qua
coal
thracite
field.
The Port Carbon&Middleport El.Ry.
Pottsville & St. Clair Elec. Ry. Co.
Railway Co.
Schuy1. Hav .&Orwigsburg St. Ry .Co. Tamaqua & Pottsville Electric RR.
Eastern Penna. Lt., Ht. & Pow. Co.
Schuylkill Electric Railway Co.
The Tumbling Run Park Association
Coal Castle Electric Railway Co.
Most of those companies are without bonded debt, but where bonds have
been issued they have been providedtor or deposited under the consolidated
company's new mortgage, together with all. or practically all. their stocks.
V. 82. p. 1437.
Franchises are practically peroetuai.
The Pottsville & St. Clair Electric Ry., tncorp. in Oct. 1915 with $13,200
capital stock.was organized in the interest of the company to construct the
fine from Pottsville to St. Clair (placed In operation Aug. 11 1916).
It has
outstanding $160,500 (auth. amount $350,000) 1st M. 6% gold bonds dated
June 1 1916 and due June 1 1946; Int. payable J. & D. at fiscal agent,
Pottsville. Pa.; subj. to call at par and int.
Trustee, Real Estate Trust
Co.. Philadelphia.
Fare Increases.—In April 1918 announced an Increase in fares to 7 cents.
The Schuylkill Electric Ry. announced an increase in the zone rate from
7 to 8 cents, effective July 10 1918.
V. 106, p. 2561Effective Nov. 7
1919 the company increased fares to 10 cents per zone.
This increase was
upheld by the Pennsylvania Public Service Commission.
Pottsville Union Traction Co.
Pottsville & Reading
committee
In Oct. 1919 the following
of holders of the company's 1st mtge.
of these
bonds
was
5s.
formed to protect the interests
As of July 15 1920 over 80%
had been
deposited with the committee.
For statement
regarding outlook and details of negotiations with stockholders looking
toward reorganization see V. Ill, p. 791.
Committee for
1st Mtge. 5s.—Chairman, Edwin G. Merrill; Herbert
Coppell, A. A. Jackson, Lewis A. Riley, Thomas Newhall; Secretary, Robt.
N. Smither, care of Central Union Trust Co., 80 Broadway. N. Y.
De¬
positaries: Central Union Trust Co., N. Y. City, and the Girard Trust Co.,
Phila., Pa.
V. 109, p. 1366, 2356; V. Ill, p. 791.
Interest.—Coupons due on the company's 1st mtge. 5s are being paid when
.
.
„
.
,
due.
Date.
STOCK AND BONDS—
Outstanding.
$4,000,000
Interest.
Common, $5,000,000 ($100)--
Pref, $1,000,000 ($100) 5%c.
Flrst mortgage. $6,000,000, g/
($500 and $1.000)
c*tfl
Pottsville Union Trac. 1st M.f
946.820
Maturity.
-
See text
4.446.500 July 1 1936
Central Trust Co., New York. Trustee.
1899
6 g M-S
40,000
gold $1.250,000
1 Int. at Real Estate Trust Co#, Phila., /Trus.
1895
6 g F-A
Pottsv. & Read, first mtge, gl
99^00 Feb. 1 1927
$100,000 ($1.000)
-_c*l Int. at Real Estate Tr. Co., Phila., Trustee
1895
6 g F-A
295,000 Feb. 1 1925
Schuyl El Ry 1st M $500.000,j
($500 and $1.000) gold.c*tf\Int. at Real Estate Tr. Co., Phila., Trustee
Bcmds.—Sufficient 1st M. bonds of 1906 are reserved to retire $434,000
1906
5 g J-J
•
,
prior liens; the unissued portion is reserved for future extensions and im¬
$333,500 have been canceled.
Registered bonds are re-con¬
vertible into coupon bonds.
Are subject to call at 110 and int. on 4 weeks'
QOtice.
Int. payable In N. Y.
See description of bonds and property.
V. 89. p. 103; V
94, p. 279.
Dividends.—Divs., 2H,%. on pref. Mch. 1907; none since.
provements;
EARNINGS.—For
Dec.
ending Dec.3P
Net
Expenses
years
Gross
Year end.
$1,644,562
1,192,995
1917—
995,183
$1,218,518
914,661
680,593
Deductions.
Earns.
& Taxes.
Earns.
31.
1918
OFFICERS —Pres., Franklin T. Griffith: V.-Ps., F. I. Fuller, Portland
B. Caldwell, Portland; E. W. Clark and H. L. Clark, Phila.; Sec. and
LIGHT CO.
&
ORGANIZATION.—Commenced
operations in
1894.
Leasee Ohio
Valley Traction Co.
Doss the electric light and power business in Portsmouth and New Boston.
including the city lighting.
The street railroad serves Portsmouth. New
Boston and Sciotoville.
Owns an amusement park.
Franchises extend
beyond 1935.
In Dec. 1914 issued $500,000 bonds to extend the railway lines from
Portsmouth, O., to Ironton, O., 22 miles, for impts., &c., and for the re¬
demption of the $50,000 bonds called for payment Jan. 1 1915 at 102.
The
extension to Ironton O., is being built by a subsidiary, the Ohio Valley Trac¬
tion Co., all of whose securities will be pledged as part security for the new
bond Ls8ue. and whose property will be oper. under lease extending to 1950-
1919—
estate in Portland suitable for terminals.
STREET RAILROAD
$426,044
278,334
314,590
(All Cos.)
$269,111
276,305
269,835
Balance.
Surplus.
$156,933
2,029
44,755
O.
Treas., G. L. Estabrook, Phila.; Asst. Sec. and Asst. Treas., R. W. Shep¬
herd; Asst. Sec. & Asst. Treas., W. L. Lamont.—V. 106, p. 2560; V. 107,
p. 803, 1385, 1837, 2290, 2377; V. 108, p. 1819; V. 109. p. 677, 2172, 2263,
2357,; V. 110, p. 167, 1416, 2292, 2568; V. Ill,
p.
1370.
Mauch
OREGON
ELECTRIC RAILWAY.—An lnterurban road.
& Seattle Ry. owns entire common stock
ORGANIZATION.—Incorporated in Oregon on May 14 1906.
Ex¬
clusively an lnterurban road.
Does no street railway business.
Principally
private right of way.
Here a contract for power (extending to 1938. with
privilege of renewal for 25 years) with Portland Railway, Light & Power Co.
STOCK AND BONDS—
Date.
Common $5,000,000 ($100)---
Interest.
—
$5,000,000($100) 6% cum
Deferred stock $400,000 ($100)
First
mortgage
($1,000)
$10,000,000/
gold
.
6 F-A
Outstanding.
$1,950,000
200,000
5 g M-N
2,000.000 May 1 193?
._.c*&rtflint, at Columbia Tr. Co..
N.
Y.. trustee
Bonds.—$8,000,000 remaining bonds reserved for permanent extensions
and improvements at 80% of cost.
Bonds are subject to call as a whole
or in part at 107 and interest on any Interest day.
Dividends.—On pref. in 1911, 1912, 1913 and 1914. 6%.
EARNINGS.—For cal. years:
Year—
Gross.
Net, aft. Tax.
1918-
$1,093',070
1,021.696
def.$l60,996
def. 107,692
None since.'
Oth. Inc. Interest, &c.
Deficit.
$159,980 $527,606 def.$528,622
142,643
555,924 def. 520.973
Results under Federal control.
ROAD.—Operates Portland to Eugene, 122.31 miles; Garden Home to
Forest Grove, 19.45 miles; West Woodburn to Woodburn, 2.53 miles; Gray
to Corvallis, 5.20 miles; Orenco to Bowers Junction, 5.05 miles; trackage
rights. 1.72 miles; total length of line, 156.26 miles.
Standard gauge
70-lb. T rails.
Joseph K. Choate; Sec. & Treas., T. W. Moffat, all of N. Y.; Asst. Sec.
& Asst. Treas., L. A. Reinhardt; Asst. Treas., H. B. Brown; Asst. Sec.,
C. A. Dougherty; Gen. Mgr., C. A. Hall, Pottsville, Pa.; Gen. Mgrs.,
J. G. White Mgr. Corp., N. Y.
V. 105, p. 1522; V. 106. p. 1796; V. 107.
p. 1837; V. 109, p. 1366, 2356; V. 110, p. 969; V. Ill, p. 791.
Maturity.
In 1914. 6%
380,000
1908
Chunk
OFFICERS.—Pres., J. H. Pardee; V.-Ps., R. Walter Leigh, J. I. Mange
and
on
*
Adamsdale, Orwigsburg, Coal Castle, Glen Carbon, Tumbling Run, Brock¬
Tuscarora. Tamaqua. Lansford. Summit Hill. Nesquehoning and
ton,
Spokane Portland
Pref
ROAD.—Operates 65 46 miles of track, connecting Pottsville witb Yorkville, Minersville, Palo Alto, Belmont, Cumbola, Mount Carbon, Port
Carbon, Saint Clair, New Philadelphia, Middleport, Schuylkill Haven,
.
poughkeepsie,
n. y.
POUGHKEEPSIE & WAPPINOERS FALLS RY.
ORGANIZATION.—Chartered
March
22
1894
as
the
Poughkeepsle
Name changed to above June 1917.
a new mtge. to the Equitable
Trust Co. of N. Y., securing an issue of $2,000,000 5% 1st M. sink, fund
gold bonds, and to Issue $596,000 thereof to take up the existing bonds.
Oity & Wappingers Falls Electric Ry.
The P. S. Comm. has auth. the co. to make
Fare Increase.—In
June
1918
authorized by the New York P. S.
understanding, however, that no
and equipment are brought to a
2758.
was
Comm. to charge a 6 cent fare, with the
dividends are to be paid until the road
state
of efficiency.
V.
106,
p.
In Aug.
1919 the co. was auth. by the N. Y. P. S. Comm. to issue $130,000 6% 1st Mtge. bonds, proceeds to be used for construction work and
exts.
$30,000 of these were issued Aug. 24 1920 and $40,000 Sept. 15 1920.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
.Stock, $1,000,000 (par $100)
$750,000
j[st M $2,000,000 ($100, $5001 1918
6 g J-Jl
666,000 Jan
11958
& $1,000) g
cn tf/
lilt at Equitable Trust Co.. N.Y., Trustee
Bonds.—The $1,200,000 unissued bonds are reserved for extensions,
-
improvements,
acquisitions, &c., at not exceeding 80%
—
of cost thereof
Oct., 1920.|
ELECTRIC
under certain restrictions.
at 105 and int. on any
Sinking fund of 1 % each
int. day
upon
Jan. 1.
year on
195,404
207.068
25,184
33,471
Surplus.
38,160
■
39.442
def.$5.113
def.12,977
def.5.971
OFFICERS.—Pres., Mrs. J.W.Hinkley: V.-P., Mary M.Hlnkley; Sec. &
Treas., T. W. Moffat; Asst. Sec. & Asst. Treas., H. B. Brown; Mgr., C A.
Brooks:
Aud..
Corp.
J.
V. 104,
A.
p.
Nilan.
Under
of J.
management
Stock.—Of the
G.
White
Mgt.
2642; V. 106, p. 2758; V. 109, p. 477; V. Ill, p. 1370.
of pereferrd
amount
In the hands of the
14 miles;
I
EARNINGS.—For years ending Dec. 31:
Period—
Gross.
Net, Aft. taxes. Int..&c.
Calendar year 1919
—$231,617
$37,755
$42,868
Calendar year 1918
Calendar year 1917
Call,
6 weeks' notice.
ROAD.—Owns 15.14 miles of road; leases 1..5; second track,
sidings, .77 miles; total, 18.55 miles of track.
27 cars.
119
RAILWAYS
any int. date upon 3 weeks' notice at 105 & int.
Sinking fund 1% an¬
nually of bonds out from Aug. 1 1913 to Aug. 1 1922, Incl.; thereafter IM%$232,000 have been retired through operation of sinking fund.
See V. 90,
on
1361.
The 1st A Joint M. 6s are secured by a 1st M. on the property
Palmetto Power A Light Co. and by a direct lien on all the property
p.
of the
of the Yadkin River Power Co. and the Carolina Power A Light Co. subject
to their 1st M bonds.
Red. all or in part any time on 4 weeks' notice at
PUEBLO, COL.
common
and
$405,000 preferred, $3,500,000 of the
$3,672,000 first and refunding bonds.
>
ORGANIZATION.—Incorp. In Colorado
on Nov. 14 1911.
the following companies (V. 93, p. 1460):
.
Colo. Lt. A Pow. Co. of Canon City
I La Junta Electric Co.
The
,
La
Bella
ownership
only.
Mill,
Water
A
Has taken
EARNINGS.—For
Trac. A Lighting Co.
(Rocky Ford Electric Co.
Co.
is
controlled
through
198-—20
an
1918
additional $100,000 of these notes
purpose, and in June
1919 $279,000
were
were
issued for the
ending Dec. 31:
Other
Bond
mos.
Net (after
Earnings.
$1,249,809
1,015,382
1919
Taxes.)
$398,443
349,159
Income.
$159,656
153,022
Other
Interest.
$174,058
159,981
Int., &c.
$15,838
21,907
Balance.
Surplus.
$368,203
320,293
stock
Latest Earnings.—For
*
Controls all the street railway and electric lighting and power Interests in
Pueblo, with a large lighting and power business in the Cripple Creek dis¬
trict.
Railway franchises expire in 1940 In Pueblo and 1953 in Pueblo
County and electric light franchises in 1936.
In June 1918 Issued $350,000 2-year notes to reimburse the company for
expenditures incurred for additions and improvements.
V. 106, p. 2449.
In Jan. 1919
12
Gross
Year—
(Pueblo & Sub*.
Power
V. 108, p.
int.
In April 1911 and quar. since, 1%%.
Initial div. on com.— y, of 1%—
paid Feb. 1917; same rate quarterly to and incl. May 1919.
In Aug.
1919, 1%; Nov., y* of 1%.
In 1920, Feb., K of 1%; May, H of 1%;
Aug., y2 of 1%.
over
Gold BeltConsol. Electric Co.
La Bella Mill/Water & Power Co.
and
Dividends.—On pref., 1H% quar. from July 1 1909 to Dec. 31 1910, Incl.
(THE) ARKANSAS VALLEY RAILWAY. LIGHT & POWER CO.
owns
is
Bonds.—$500,000 are for exchange, bond for bond, for bonds of other
companies, under certain restrictions, and remainder for impts., extensions,
Ac., at 80% of cost of same when net earnings for 12 mos. are twice interest
on bonds out and to be issued.
Red. as a whole or in part for sinking fund
100^ and int. during 1920, and thereafter at 100
783, 877.
Standard Gas A Electric Co.
$1,943,600
outstanding,
stock
public.
same
issued, proceeds being used in
V. 108, p. 2432.
part in refunding $450,000 6% notes due July 1 1919.
Fares.—In Jan. 1919 the company, which had previously applied for a
6-cent fare, filed an amended application with the Col. P. U. Comm.
asking authority to increase fares from 5 to 7 cents.
V. 108, p. 76.
In
Sept. 1919 the Pueblo City Council passed an ordinance, effective Nov. 11
1919,
12 mos. ending Aug. 31:
$419,329
$169,489
$174,071
$26,932
$387,815
385,575
158,141
169,058
20,739
353,919
2,776,444 passengers carried in 1919, against 2,362,428 in 1918.
1919-20 ..$1,460,696
1918-19
1,136,772
-
ROAD.—Owns 13.6 miles of road;
10 open
5 power
gauge, 4 ft. 8 H In.
60-70-lb. T rails.
motor cars, 11 open trailers, 13 closed motor cars and 1 miscell.
stations and 9 sub-stations; 236 miles transmission lines.
OFFICERS.—Pres., Chas. E. Johnson, Raleigh; V.-P. A Gen. Mgr.,
Tillery; V.-Ps., Wm. Darbee, E. W. Hill and D. F. McGee; Sec., E. P.
N. Y.; Treas., Wm. Reiser; Asst. Sec., H. L. Martin; Asst.
Treas., A. C. Ray and G. J. Hickman.—V. 104, p. 1488; V. 105, p. 180,
1312; V. 106, p. 818, 2122; V. 107, p. 500; V. 108, p. 783, 877; V. Ill, p. 192.
P. A.
Summerson,
granting the company authority to charge a 6 cent fare. V.109, p.1985
8TOOK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$3,500,000 See Earns"
1.870,800 Sept '20,\%
First A ref mtge $10,000,000/ 1911
3.672.000 Nov 1 1931
g ($1,000) sinking fund—c* Int.atCont.ACom.Tr.A 8. Bk., Chic., trust.
Pueblo Traction A Lighting
1901
5 g J-J
960.000
Jan 1 1921
first mortgage (closed) gold Interest at International Trust Co., Denver,
trustee, or at Guaranty Trust Co., N. Y.
($1,000)
c*
Pueblo A Suburban 1st mort- ( 1902
5 g A-O
1,697,000
Oct 1 1922
gage (closed) ($1,000)
g(Interest at International Trust Co., Denver.
sinking fund
c*l
trustee, or at Guaranty Trust Co., N. Y.
Secured
notes,
$1,500,000/ 1918
7 g J-D
729,000
Dec 1 1920
($100, $500 A $l,000)gc*.tf (Conti. A Coml Tr A Sv Bk, Chicago, trustee.
Common $6,000,000 ($100)
Pref $4,000,000($100) 7% cum
Q-M 15
5 g M-N
Stock.—Pref. stock is red. at 110
an
additional
i
block
In Oct. 1917 issued
$450,000 for extensions and additions
$64,600.
*
Bonds.—Of the remaining first and ref. bonds, $982,000
are
in
treasury
are Dledged as security for the 2% yr 7% notes, $2,657,000 are
reserved for prior liens. $485,000 have been redeemed and the remainder
are reserved for extensions
Subject to call at 105 and int. on any int. day.
Annual sirdrng fund began Nov. l 1913. 1% bonds certified 1913 to 1915,
1916 to 1930. 2%.
Entire issue of the Pueblo & Suburban 1st M. bonds is
retire
to
at
104 A '.nt.
A sinking fund began in 1909, which must
$50,000 bonds per annum, said fund to be Invested in the
higher than 104; otherwise bonds can be called
call at
least
bonds in open market at not
for the purpose.
V. 75. P.
1355.
$607,000 have been canceled.
Entire
Ltg. 1st M. bonds may be called at 104 & Int.
A
sinking fund of $10,000 annually on these bonds began In 1906, and may be
used to call bonds after Jan. 1906 at 104 & int.
8ee V. 72, p. 821.
$140.Issue of Pueblo Trac. &
000 have been canceled.
2y-yr notes are secured by pledge of 1st & ref. M. bonds (not
reported outstanding) at the rate of 133 1-3% of the par value
of notes outstanding.
Additional notes may be issued when secured by
1st & Ref. M. bonds in a like ratio, but only under certain restrictions.
Red. all or in part on 30 days' notice at 100^ and int., to and incl. Dec. 1
1919
and
at
100
and
int.
thereafter.
Tax
the
Asheville
refundable
railway expiring in 1952,
in
Pennsylvania.
1912 to Sept. 1920..
Taxes.
Earns.
1919
$1,579,020
1,480,548
$536,599
605,071
373,981
stock,
common
as
except
perpetual.
April 1 1928 with the North Carolina Electrical
'
Fare Increase.—Effective Oct. 1 1919, was auth. by the North Carolina
Corp. Comm. to increase fares for adults from 5 to 6 cents.
V. 109, p. 1365.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$1,000,000 ($100)
$1,000,000 See "earns.
$1,000.000($100)7% cum
639,700 Oct '20, IX
First mortgage $5,000,000 g/ 1912
5g A-O
1.220.000 Apr 1 1942
($1,000)
c*.tf\Int. atU. S. Mtge. ATr. Oo..N. Y., trustee.
Common
—
Stock.—All the common stock, except directors' shares, is held by the
Carolina Power A Light Co.
Of the amount of pref. stock outstanding,
$539,700 Is in the hands of public.
Bonds.—Remaining bonds are issuable at 80% of cost of permanent im¬
provements or additions when net earnings are twice interest charges on
bonds out and to be issued.
fund at
Subject to call
105 A Int. on any int. day.
1922, incl.; 1% 1923
See V. 94, p. 1316.
to
as a
whole
or
Sinking fund,
1927; 1^%
to
1928 to
in part for sinking
on
1932; 2%
April 1 1917
1933 to
1941.
Dividends.—\%% quar. has been paid on pref. stock since April 1912.
EARNINGS.—For 12
ending Dec. 31:
Net, after
Interest
Balance,
Taxes.
(Net.)
Surplus.
1919
$276,499
$62,173
$214,326
1918
212,261
62,001
150,260
6,525,584 passengers carried in 1919, against 5,519,038 in 1918.
mos.
Gross
Year—
Balance,
Surplus.
$226,589
(Net).
$382,981
Divi¬
dends.
&c.
the
Earnings.
$668,364
537,450
ROAD.—Operates 20 miles of railway.
EARNINGS.—For years ending Dec. 31:
Gross
Net, after
Int. Charges,
Calendar
Year—
All
Co.
are
Has favorable contract to
Power Co. for power.
-
V. 106, p. 2449.
Dividends.- o>n pref., 1 U% quar. from June
m
March 25 1912 In North Carolina
on
Electric
directors shares, is owned by Carolina Power A Light Co.
Does entire
commercial and municipal electric light, gas and street railway business
of Asheville, and its suburbs.
All franchises, except for 1 \i miles of street
Notes.—The
incl. in amt.
to
Pref
$972,000
subject
Asheville Power & Light Co.
successor
60 days' notice.
treasury.
n
of
on
(1)
ORGANIZATION.—Incorp.
$153,618
5,000
Chas.
OFFICERS.—Pres.,
E.
Johnson;
V.-P.
Plummer; Sec., E. P. Summerson; Treas.. Wm.
106, p. 818; V. 109, p. 1365; V. Ill, p. 989.
A Gen. Mgr., H, W.
Reiser.—V. 95, p. 110;
V.
Latest
Earnings.—For 12 months ending Aug. 31:
$1,762,307
$586,496
$377,941
1918-19
1,502,456
541,852
381,096
—
$208,555
160,756
ROAD.—Owns 33 miles of track, all in city of Pueblo.
Gauge, 4 ft.
65. 72 and 75-lb. rail.
50 cars, of which 42 are motors.
Has a hydro¬
electric power plant at Skaguay, on Beaver Creek, near Victor; steam-elec¬
tric power houses in Canon City and Pueblo, and reserve stations at La
Junta and Rocky Ford; combined capacity, 26,165 h.p.
transmission and 323 miles
Has 314 miles of
distributing pole lines.
OFFICERS.—Pres., Arthur S. Huey; V.-P.A Mgr., W. F. Raber; Treas.,
H. M. Byllesby & Co.. Inc.,
Chicago. 111.—V. 107, p. 1747; V. 108, p. 76, 2432; V. 109, p. 71,1985,
R. J, Graf; Sec., Herbert List; Gen. Mgrs.,
RALEIGH, N.
CAROLINA POWER
C.
& LIGHT CO.
Electric Bond & Share Co. acts
as
fiscal agents for the company.
ORGANIZATION, AO.—Incorp. in North Carolina Feb. 19 1908.
Suc¬
to the Raleigh Street Rv. (chartered 1881, road opened 1886), Raleigh
cessor
Electric Co., Central Carolina Power Co. and Consumers' Light & Power
Co.
On Nov. 1 1910 acquired Durham Light A Power Co., on May 1 1911
the Henderson Ltg. & Pow. Co., and on Aug. 1 1911 the Standard Gas &
Elec. Co., which companies have been merged into the Carolina Power &
Light Co.
On Nov. 1 1911 leased the Oxford Elec. Co.
On July 1 1912
acquired the Goldsboro lighting property (municipal plant).
Also owns
the entire common stock, except directors' shares, or the Yadkin River
Power Co. (which controls the Palmetto Power & Light Co.) and the Asheville Power & Light Co. (acquired in March 1912.)
Operates entire street railway, gas and electric light and power service in
Raleigh, gas service in Durham, light and power service in Henderson,
Oxford, Sanford, Jonesboro, Fayetteville, and Goldsboro and supplies,
directly or indirectly, electric light and power service in 18 other communi¬
(2)
Yadkin
River Power Co.
Is controlled by Carolina Power A Light Co.
ORGANIZATION.—Incorp. on March 20 1911 in North Carolina as
to the Rockingham Power Co., sold at foreclosure.
V. 93, p. 173.
•uccessor
Owns and operates
hydro-electric plant on the Yadkin River, lighting and
Sower and electricRockingham, Hamlet and Wadesboro, N. C., and Cheraw,
.O., systems in
power systems In Luinberton and Lilesville, N. C.;
also
supplies, under contract, the entire requirements of the privately-owned
light and power systems in Maxton and Laurinburg, N. C., and of the
municipal lighting systems of Lilesville and Lumberton.
None of the
franchises expire prior to 1971.
In July 1917 acquired control of Carolina
Gas A Electric Co
(now Palmetto Power A Light (Jo ) which suoplles
electric light and power to Florence, Darlington, Marion, Mullins, Bishopville and Timmonsville, S. C.; water in Darlington and Marion, and gas
in Summerville.
In »iiO« 1910 authorized capital stock was increased from $4,000,000 to
$5,000,000 and in Feb. 1920 from $5,000,000 to $6,000,000.
STOCK AND BONDS—
Date.
Common $4,000,000 ($100)-Pref $2,000,000($ 100) 7 % cum
Interest.
Outstanding.
Maturity.
$3,835,000
"Q-J"
997,800
Oct'20,1
First mtge $15,000,000 gold/ 1911
5 g A-O
3,500,000
Apr 1 1941
($1,000 A $5.000).c*Ar.tf lint, at Old Colony Tr. Co.. Boston, trustee.
First A Joint Mortgage.
—See under Carolina Power A Light Co .above
......
.
Bonfb-—$178,000 not included in amount reported outstanding, are in
remaining bonds are reserved for extensions, Ac.
Bonds have
knpt. fund of H % of bonds out from Aug. 1 1916 to 1920, incl., 1 % 1921 to
1925, 1H% 1926 to 1930. and 2% 1931 to 1940, incl.
Subject to call as
a whole on any int. date or in part for improvement fund at 105 and int.
on 4 weeks' notice, all bonds thus acquired to be canceled.
Dividends on preferred stock were begun Jan. 1 1917.
treasury;
ties.
Franchises.—Gas lighting franchise in Raleigh is perpetual.
The electric
and railway franchises extend to 1945.
The Durham gas
In Henderson, Oxford, Sanford and Jonesboro
the franchises extend to 1971, 1971, 1942 and 2003. respectively; in Golds¬
boro, Smithfield and Pine Levei to 1972, and in Fayetteville franchise is
perpetual.
On March 31 1911 increased authorized common stock from $2,500,000
to $5,000,000, and authorized
preferred from $1,250,000 to $2,500,000.
On Mar. 6 1920, the stockholders voted to increase the auth. amount of
preferred stock to $3,500,000.
In Feb. 1919 an issue of $3,000,000 Carolina Power & Light Co., Yadkin
River Power Co. and Palmetto Power & Light Co. 1st & Joint M. 6s was
brought out, the proceeds of which were used for the construction of highvoltage transmission lines, sub-stations. Ac.
V. 108, p. 783, 877.
light and
power
franchises extend to 1950.
STOCK AND BONDS—
8tock
Date.
$5,000,000 ($100)
Pref $3,500,000 7% cum ($100)
Interest.
com
First mortgage
gold $5,000,-/
Q-J
1908
5_g F-A
Outstanding.
$4,787,500
2,035,000
3,481,000
Maturity.
Aug '20,
H
Oct '20. 1%
Aug
1 1938
000 ($500 & $1,000)._c».tfl Guaranty Tr. Co., N. Y..trus.
Int. In N. Y.
& Joint M $3,000,0001 1^J9
6 g J-J
3,000.000 Jan
1 1924
"I
Bankers' Trust Co., N. Y., trustee..
($500 & $1,000) gold.
c*/Ba
~
1st
PROPERTY.—Has generating capacity of 24,000 k. w., all hydro-elec.
miles of transmission lines and 06 miles distributing liDes.
201
EARNINGS.—For
12 months ending Dec. 31:
Net (after taxes).
Int.(Net).
Gross.
Year—
1919
*
—
1918
$614,678
558.492
$202,083
201.676
$397,539
398.422
Bal..Sur.
$195,456
196,746
OFFICERS.—Pres., Chas. E. Johnson;.V-P. A Gen. Mgr., P. A. Tillery;
Sec., E. P. Summerson; Treas., Wm. Reiser.—V. 100, p. 2173; V. 103, p.
2245; V. 106, p. 818; V. 108, p. 783, 877.
READING, PENN.
EASTERN
POWER
&
LIGHT CORPORATION.
All the assets of this co. were disposed of on
Oct. 24 1919, the subsidiary
with the exception of the West Virginia Trac. A Elec.
Virginia Utilities Co.), being acquired by the General Gas
For history of Eastern Power A Light Corp.see this "Section
cos.,
Co. (now West
A Electric Co.
for Apr. 24 20.
ELECTRIC RAILWAYS
120
WEST
STOCK AND BONDS—
VIRGINIA UTILITIES CO.
United
ORGANIZATION.—Incorporated in 1920 and acquired the Morgantown
properties of the West Virginia Traction & Electric Co. (for history see
f'Electric Railway" Supplement of April 24 1920) as per plan outlined in
V. 110, p. 1416.' Owns all the $500,000 capital stock of the Wheeling
Public Service Co. which took over the Wheeling-Elm Grove properties of
«
the West Virginia Trac. A Eiec. Co.
With its sub. co. owns and operates
the electric light, power and water
supply systems in Elm Grove and neighboring towns; an electric railway from
Wheeling through Elm Grove connecting adjacent suburban towns; electric
light, power, gas and water systems in Morganwton, W. Va.
Serves 29
communities with railway and electric service, 26 with water and 25 with
natural gas.
Owns a 33-acre.park.
Holds under lease over 20,000 acres of
natural gas fields, about one-quarter developed, with extensive systems of
gas wells and distribution equipment.
Also has 1,600 acres of gas and oil
lands tinder development..
Franchises: One expires 1927; others extend
beyond 1942 or are perpetual.
STOCK AND BONDS—
Interest.
Date.
Common SI,000.000 ($100)
Pref. $1.500.000 ($100) cum.
000
gold
Outstanding.
Maturity.
$500,000
862,733 .
1,136,400 Jan. 1. 1935
.
16-yr. gen. mtge. bds. $5,0001
©00 gold
lTn. TJtil. 1st mtge $1,500,-
7%
6%
1920
5
1909
-
*'•
J-J
g
STOCKS.—No div. shall be paid on com.for 2 years from date of issuance,
net income for that period to be carried to surplus; thereafter not more than
]4 the sum which subsequently becomes available for divs. to be paid as
such, balance to be carried to surplus; with protective provisions for maint.
depreciation.
Pref. stock has equal voting power, share for share,
with the com. stock, preferred both as to divs. and assets, red. at option of
co., all or part, from time to time at 105 and divs.
and
Bonds.—The co.'s gen mtge. 6s are a 2nd lien on the Morgantown proper¬
ties and a 1st lien on the stock of the Wheeling Public Service Co.
Of
Union Utilities 1st mtge.bonds, not includedin amountoutstanding, $10,000
in the treasury, $266,000 are held alive in sinking fund, and remainder
are reserved for improvements and extensions at 75%
of cost.
Red. at
105 and int. on any int. day oh 30 days' notice.
Sinking fund 1% semi¬
are
annually of bonds out.
After setting aside 1% s.-a. and payment of 7%
•n pref. and
10% on com., sinking fund shares equally with aDy further
div. on com.
V. 90, p. 373.
PROPERTY.—With its controlled co. has 2 electric power plants
aggregating 6,000 h. p. capacity; 2 water pumping stations; 2 gas pumping
stations; 143 gas wells; 152 miles of electric lines: 179 miles of gas pipe lines;
74
miles
of water pipe
lines; 45 miles of urban and suburban railways,
Standard gauge.
jargely on private right-of-way.
OFFICERS.—Pres., E. L. West;
Thos. Cheync Sec., C. M. WiLson.
V.-P.,
91
Robt.
cars.
M.
Treas.,
(1) Wheeling Public Service Co.—All the com. stock is owned by the
West Virginia Utilities Co.
Dale.
Interest.
Outstanding.
Maturity.
Co.—
Valley
Read-Womelsd
trust/
....
\lnt.at
5 J-J 1
245,000
July
1931
Real Es.T.I. ATr.Co., Phila. .trustee.
1st M
$400,-/ 1895
5 g J-J
400,000
Jan 1 1925
c*.cpt. llnt.at Real Es.T Ins.A Tr.Co.. Phila.. trustee
Birdsbor.o St Ry M. $250.0001 1904
5 g J-J
250.000
Jan
1934
gold ($500&$l,000).c.cpt/Int. at Colonial Tr. Co.. Reading, Trustee.
Bover & P St Ry 1st M.3300.-/ 1906
5 g F-A
300.000
Aug 1 1936
000 ($500 & $1,000)g.c*cpt 1 Int. at Colonial Tr. Co., Reading Pa.. Trust.
Front&5th St Ry 1st M $50,-/ 1903
5 g J-J
50.000
July 1 1933
000 g ($100 & $500).c*cpt. i Int. at Colonial Tr. Co., Reading. Trustee.
1901
Oiey valley Ry first mtge,J
4H g J-J
250,000
July 1 1931
,1 Est. Title Ins.&Tr Co..Phila.,Tr.
$250,000 g ($1,000) .c*cptllnt.at Real
Neversink Mountain bonds.
4 J-D
'
100,000 June 1 1931
Int. at Colonial Tr. Co., Readlng.Pa.. Trust.
000 ($100 Ac)
'
Leased Line Securities—
\
Adam & Mohn
1st mortgage/ 1904
5 g J-J
75.000
Jan 1 1935
$75,000, g ($1,000)
r*cptllnt. at Colonial Tr. Co.. Reading. Trustee.
Read-9 Wist M.
$100,000/ 1900
5 F-A
100.000
Aug 1 1931
($500 & $1.000)
c*cptflnt at Penna Tr. Co., Reading. Trustee.
See separate statements for Reading Traction, Schuylkill Valley Tract.,
and Lebanon Valley Street Ry. below.
Bonds.—$8,000,000 R. T. A L. Co. Gen. A Ref. Mtge. bonds
served to retire
are
re¬
underlying bonds of the merged and leased companies and
to
acquire leased cos if purchased
Additional bonds may be issued only
for 80% of the reasonable cost of new property, exts., Ac., when net ineome
is 1 % times the annual interest charges, incl. bonds to be issued.
A main¬
tenance and depreciation fund of at least 15% of annual gross earnings is
provided, any part not used for maint., renewals and replacements may be
expended for exts. and addns.. such expenditures not to be the basis for
additional bonds.
Old Reading Transit A Light Co. car trust certifs., Series "A," mature
$10,000 annually to July 1 1926, subject to call on any int. date at 101 and
int. on 30 days' notice.
$40,000 have been retired.
Secured by 25 ears,
title remaining with trustee until entire issue is paid.
Reading Transit A
Light Co. car trust certifs.. Series "B," mature $5,000 annually to Nov. 15
1927; subject to call on any int. date at 101 and int. on 30 days' notice.
Secured by 9 cars.
Reading Transit Co. car trust certifs., Series "A,"
mature $7,500 semi-annually to Jan. 1 1922; $120,000 paid off; subject to
call on any int. date at 101 and int. on 60 days* notice.
Secured by 36
cars, costing approximately $215,000.
United Traction Co.—$5,000 Oley Valley Ry. stock trust certfs. incl. in
outstanding are held in treasury. Birdsboro St. Ry. bonds may be
amt.
called at 105.
Front & Fifth St. bonds
red. at 105.
They are guar., p.Ai.,
Reading T. A L. Co.).
int., by endorse¬
ment by United Traction (now Reading T. & L. Co.).
Reading & Womels¬
dorf bonds are subject to call at par.
Adamstown A Mohnsvifie bonds are
redeemable,, at 105
by
Johnson;
Traction
Ry stock
certificates $250,000
Oley
1 1944
917,000 July
c*cpt lint, at Farmers' L. A Tr. Co., N. Y., trustee.
($1,000)
[VOL. 111.
endorsement
by
United
are
Traction
Co.
(now
The Boyertown & Pottstown bonds are guaranteed, prin. A
EARNINGS.—For years ending Dec. 31:
ORGANIZATION.—Organized in 1920 and acquired the Wheeling-Elm
Virginia Traction A Light Co. 'for history
see this Supplement of April 24 1920) as per plan outlined in V. 110, p. 1416.
Owns aL the com. stock of thp City & Suburban Gas Co.
■Grove properties of .he West
Calendar
Gross Earnings (Incl. Net aft.Tax., Deductions
Other Income),
and Rentals. from Income.
Year—
$2,642,526
1918
f ares.—In Sept. 1920, was auth. by the P. S. Comm. to raise fares in each
zones between Elm Gove, W. Va. and West Alexander, Pa., from
1919
2,189,553
2,323,564
1917
of the 4
6 cents to 7 cents.
STOCK AND BONDS—
•Common $500.000
Interest.
Date.
Outslandina.
Maturity.
All owned by West Virginia Utilities Co.
City A Suburban Gas 1st M) 1912
6 g M-N
572,000 Nov. 1 1932
$1,000,000
($1,000)._c*tf (Int. at Equitable Trust Co., N. Y., trustee.
City A Elm Grove cons coll\ 1906
5 g J-J
1,119,000 July 1 1936
tr M $2,500,000 g ($1.000) flnt. at Union Trust Co., Pittsburgh, trustee.
$412,358
262,416
359,540
$209,107
261,381
219,295
Balance,
Surplus.
$203,251
1,035
140,246
Latest Earnings.—For year ending Aug. 31 1920, gross (incl. other income)
$2,953,950; net, after taxes, rents, A misc. deduc., $332,879; int., $87,260;
balance, surplus, $245,619.
.......
Wheeling A Elm
Grove first 1
1898
5 M-8
150,500 Mar 1
Property, &c.—203.12 miles track.
237 passenger and 50 service cars;
plants having 43,000 h.p. generating capacity, 426 miles electric
pole lines.
In 1918 carried 32.235,933 passengers, against 36,845,865 in
1917 and $34,372,830 in 1916.
3 power
1928
mortgage $225,000 ($500) _) Sin kino fund retires $5,000 annually.
Wheeling A Elm Grove M (see t 1901
5A-0
794,500 April 1 1931
text) ($1,000 A $100)g._c*fTnt. pay. at Dollar 8avs. A Tr. Co., Trustee.
Bonds.—The City & Suburban
part, on any interest date at
2% on outstanding bonds began
outstanding, are held in sinking
Gas Co. bonds are redeemable, as a whole
105 and int.; cumulative sinking fund of
in 1916; $128,000 not included in amount
fund.
Of the City A Elm Grove consoli¬
dated collateral trust, bonds, $1,000,000 are reserved to retire prior liens.
Are subiect, to call on any int. date at 105 and int.
V. 83, p. 491.
The
auth. amount of Wheeling A Elm Grove Ry. mtge. was originally*?1,250,000
but was reduced in Feb. 1906 to $1,000,000.
or
PROPERTY, AC.—See West Virginia Utilities Co. above.
V.
OFFICERS.—Pres., E. L. West.—V. 109. p. 1462,
110, p. 1089, 2293, 2488; V. Ill, p. 589. 1682.
(a) Reading Traction.—A trolley road.
ORGANIZATION.—Inc. Mar. 9 1893 in Penna. to operate the Reading
Olty Passenger Ry. and East Reading Electric Ry., which It equipped with
electricity and leased for 99 years, the former from April 1 1893, and the
latter from May 1 1893,
On Oct. 1 1894 leased the Reading A Temple
Electric Ry., for 99 years.
The Reading Traction was leased on Jan. 1 1896
to the United Traction (now Reading Transit & Light Co.) for 900 years at
a rental of $10,000 annually for first
three years.
$20,000 for next two
years, and $30,000 thereafter, and all bond interest.
STOCK AND BONDS—
CLAREMONT RAILWAY & LIGHTING CO.
This
but
co.
was
formerly controlled by the Eastern Power A Light Corp.
sold in Nov. 1918 to a group of local manufacturers since which
have been unable to obtain information as to the co.'s affairs.
For
latest statement see this publication of Nov. 15 1919.
was
time
1527, 1700, 1793;
Date.
Interest.
Outstanding.
Maturity.
Stock. $1,000,000auth ($50)
J-J
$1,000,000 Jan '20. 75c.
First mtge, $600,000 gold
gu{ 1893
6 g J-J
50j,000 Jan
1 1933
Not subject to call
c*cpt\Provident Life A Trust Co.. Phila.. Trustee.
we
Interest
listed
on
is
payable In Reading at the Colonial Trust Co.
Stock Exchange.
V. 88, p. 749.
Bonds
are
the Philadelphia
Dividends.—-In 1900, 2%; in 1901, 2H %; In 1902 and since, 3% per ann.
READING TRANSIT & LIGHT CO.
All the common stock and $550,000 Class "B" pref. owned
by the General
Gas & Electric Co.
ORGANIZATION.—Tucorp. July
1917
as a merger
of the old Reading
Transit A Light Co. (which then ceased to exist) with the United Traction
(Reading). Boyertown A Pottstown Ry.. Birdsboro St. Ry., Reading
A Womelsdorf Elect. Ry
and Front A Fifth St. Ry.. ali of these properties
Co.
.
having been operated under lease.
Controls through stock ownership the
Oley Vallev By. and NeverRfnk Mountain Ry.
Leases the Lebanon St.
railway system and the properties of the Reading Traction Co., Adamstown A Mohnsville Electric Ry., Schuylkill Valley Traction
Co.. and
Reading A Southwestern Ry.
Owns or controls and operates the street
railway systems in and about Reading and Lebanon, and the system of
street and
Interurban railways extending from
Reading through
Nor¬
ristown
to
Philadelphia,
serving
a
population
of
about 401,000.
Principal leases contain options to purchase, also satisfactory provisions
for refunding underlying obligations.
Franchises are without time limit
and
unrestricted
of about
200.000.
on
increased
to
7
in Reading and Lebanon
and- all suburban
,JU~STOCK
Preferred
zones
Fares
cents.
were
"A"
Old Read
trust
Date.
Interest.
S^OO.OOO
T
A Lt
Co
certificates
$100,000 ($1.000)
Oar
trust
certificates
$50,000 ($500)
system
Excess fare receipts are
On Oct. 27 1920, fares
V. Ill, p. 1662.
$3,000,000
Class
the remainder of the
raised from 7 to 8 cents and in Norristown
from 8 to 9 cents.
AND BONDS—
on
V. 107, p. 1005.
V. 107, p. 1005.
Preferred Cla«s"B" $9.300.000
Gen A Ref Mtge, $30 000 000. 1917
Car
Increase In street-car fares from 5 to
in Reading Norristown,
On Sent. 16 1918 fares in Reading and Leb¬
have been increased to 8 cents.
have been increased to 8 cents.
Common,
5%
■
trust
Dividends
on
Leased Line
Stocks.—The
Reading
City
Passenger
stock
sive, $7,000; thereafter, $5,000.
annually in dividends, A. A O.
Reading
A Temple Electric
pays
7%
certificates
$150,000 ($1,000)
Bonds.—Reading Trust Co. Is trustee for East Reading Elec. Ry. bonds
subject to call in 1927 at par.
JLnt. on Reading A Temple bonds is payable
at Reading Trust Co., trustee.
Coupon ($100, $500 A $1,000).
Outstanding.
$2,900,000
160,500
1.511,500
See text
Maturity.
Aug 1 1947
—
"A"/
1916
lint,
at
60,000
5 J-J
Girard
Trust
Co..
Phila.,
See text
trustee
"B"}
1917
5 M-N
40.000
See text
_/Int. at Pa.Co.for Ins.on Lives,Ac..Phila..tr.
"A"/
1912
5 J-J 1
30,000
See text
at Girard Trust Co., Phila., trustee.
__c*{lnt.
48
miles of
track.
Gauge 5 ft. 2^i In.
Rails, 90 lbs.
V. 88, p. 749.
(b)
Schuylkill Valley Traction.—Trolley.
The United Power A
Transportation Co. owns
stock and the entire $100,000 income bonds.
all of the $500,000 capital
■
Reading Transit Co.—
Oar
Outstand'g. Last Div.,Ac.
received dividends, 1896 to 1899, inclusive, 10%, 1900 and thereafter
12%.
East Reading stock received dividends; 1896, $6,500; 1897 to 1900. inclu¬
ROAD.—Leases
an
all lines of the company
Roxborough and Lebanon.
were
Interest.
*
Fare Increase.—On Jan. 10 1918
6 cents went into effect
anon
Date.
with
unimportant exceptions.
The company also operates all the utilities supplying electric light and
power without competition In 57 towns, incl. Reading and Lebanon, Pa.,
and wholesales to distributing companies In 32 towns
having a total popu¬
lation
LEASED LINES SECUR'S.
Reading City Passenger Ry—
Stock ($350,090) (oar $50).
J-J
$350,0o0
See text.
East Reading Electric Ry—
100.000
See text.
Stock, full paid (par $50)
A-0
Bonds. $25.000
25.000 July 1 1937
cpt 1897
5 J-J
Reading A Temple Electric Ry—
Stock, $75,000, guar___cpt
7 A-0
v
73.700
See text.
1st mortgage, $75,000—__ 1894
5 A-O
73,700 Oct. 1 1924
Carsonia Park Mtge 5.40%/
A-O
12.000
(John McPadden)
I
Int. at Reading Tr. Co., Reading.
Lease.—Leased for 900 years from April 1 1910 to Reading Transit C®.
(succeeded by Reading Transit A Lt. Co.) Rental, $5,000 1st and 2d years.
$15,000 annually thereafter, and $1,000 annually for maintaining organisa¬
tion.
Reading Transit A Lt. Co. also assumes all obligations of Schuylkill
Valley Trac. and its leased lines.
ORGANIZATION.—Incorp. in Pennsylvania Sept. 8 1893 as the Nor¬
Bridgeport A Conshohocken Traction Co., and on Jan. 5 1985
as
present company. - Since Jan. 15 1895 has controlled and
operated the Conshohocken Ry., the Montgomery County Passenger By.,
the Citizens' Passenger Ry., the Collegeville Electric Street Ry. and the
Norristown Passenger Ry.
The corporate existence of the several com¬
panies is to be maintained, but their bonds will be taken up as rapidly as
possible.
ristown
chartered
Oct., 1920.]
ELECTRIC
RAILWAYS
In Jan. 1902 leased for 950
years the Roxborough Chestnut Hill A Norrlatown Ry.,
Including that company's leases of the Wlssahlckon Electric
Passenger Ry. and the Trappe A Limerick Electric
Franchises.—The Manchester A Petersburg Ry. franchises
STOCK AND BONDS—
Date,
Interest.
Outstanding,
F% £?£tgage- *400.000. gj 1895
($1,000)
c
Income
mortgage.
($500)
5 g F-A
Of the $500,000 first
mortgage dated 1895,
destroyed, $75,000 has been reserved to take
town
Aug. 1945
cptlWestEndTr.ASDCo.,Philadelphia.
Passenger Ry. bonds and $80,000 to
bonds.
and
STOCK AND BONDS—
Miles.
guaranteed
Interest.
„
_
80,000 Feb.
105
at
on
any
For
-
1
1926
Oonshohocken Ry stock ($50).
5H
Prln & intI
5 8 J"J
$2o0,000
CDt iSubj. to call at 105.
Montgomery Co Pass Ry stock
1H
1st mtge
145.900
.
_
100.000 July 1 1924
Norristown Tr. Co., tr
Fares —On Feb. 3 1919 the Common
Council of
Sept. 28 1919 fares in Norfolk and,
Interest.
A-0
Richmond, Va., voted
a
straight
were
Outstanding.
Maturity
$11,950,200
See text
7,999,400
See text
First and refunding
$15,000,000
•
The United Power &
Transportation Co. owns 4,959 out of the 4,908
capital stock,
in Jan. 1902 was leased for 950
years to the
Schuylkill Valley Traction at a rental of $4 50 per
share, payable semi-ann
In 1898 leased the
Electric, 3H miles, for 950 years; rental to be
2% on the
$145,842 stock for the first two years, 3% for the next six
years, 4% for
the next seven years and
5% for the rest of the term.
Also owns the
$250,000 stock of the Trappe & Limerick Electric Street
Ry. and leases that
company for 950 years.
Comprises 22 miles of track.
In June 1896 filed a
Auth., $250.000. and outstanding, $249,000.
Secured by deposit of $249,000 stock of
the Trappe & Limerick Street
Ry.
mortgage/ 1909
5 g J-J
11,586,000 July 1 1934
($1,000)—c*lint, at Equitable Tr. Co., N. Y., trustee.
g
Portsm
1st
mtge/
Collateral
trust
1906
5 g J-D
6,302,000 June 1 1930
at Baltimore Trust A Guar. Co., trustee.
gold—\lnt.
Norfolk A Atlantic Term
mtge $500,000 gold
1st/ 1899
5 g M-S
487.000 Mar 1 1929
(Interest at Alex. Brown A Sons. Baltimore.
notes
$950,-1 1918
6 J-J
650,000
See text
000 ($500 A $1,000)—c.ntf/Int. at Va. Tr. Co..
Richmond, Va.. Trustee
Car
trust
certificates
gold\ 1920
8 g J-J
_250,000
See text
__c*/Divs. at Philade
c*/Divs.
lelphia Trust Co., Phila., Tr.
($1,000)
Stock.—The pref. stock
Trust Co.,
•Philadelphia, securing 5% gold bonds ($1,000) J. & D.
(cpt), due June 1
1926.
Issue reduced to $396,000, of which
$371,000 was outstanding on
Dec31 1919.
Capital stock auth., $450,000; issued, $248,400;
par, $50.
Trappe & Limerick Elec. St. Ry. 5% gold stock certfs. due
July 1 1931.
Int. (J. & J.) at Real Estate Title Ins. &
Trust Co., Trustee.
A
$8,000,000 ($1,000)
shares of the
ROAD.—Total track, 20H miles; gauge, 5 ft.
2H In.; rails, 70 to 90-Ib.
girder.—V. 62, p. 1042.
Date.
J-J
Norfolk
Insurance &
6%
high-
Sept. 29 1919, in Portsmouth,
Preferred $9,000,000 ($100)—
Roxborough Chestnut Hill & Norristown Ry.—A trolley road.
Title
on
Common$12,000,000 ($100)
V.70,p.281
Estate
a
Ill, p. 794.
STOCK AND BONDS—
57.03 miles of track, including lines of above-men
tloned companies, and also
Roxborough Chestnut Hill A Norristown
Gauge 5 ft. 2 ft in. Rails 60 and 100-lb.T and girder. 91 cars.
Real
V. Ill, p. 404,
raised to 6 cents, with 2 cents for transfers.
A 6-cent fare in each of the
zones outside these cities also went
into effect. V. 109, p. 1368. On
July 21
1920 was auth. to raise fares in Richmond to
6 cents. V.
Co.
$450,000 to the
see
5-cent fare.
Labor tickets formerly sold at 2 for 5 cents will now
be sold
at the rate of 6 for 25 cents.
V. 108, p. 685; V. 110, p. 765.
In Mar. 1919
the increased rates were
approved by the Mayor.
V. 108, p. 975.
On
ROAD.—Operates
mortgage for
as fixed by Stone A Webster
Valuation of P. U. Comm. in V.
Ill, p. 1473.
to grant the co. an increase in fares from
6 tickets for 25 cents to
Bonds.—The Conshohocken Ry. bonds
($100,000) and the Montgomery
County Passenger Ry. Issue ($15,000) are held
by the Schuykill Valley
Traction
Dec. 2 1895 in Penna.
1944.
In 1915
light and power
capital expenditures, particularly
voltage transmission line from Petersburg to Suffolk.
—
_
ORGANIZATION.—Incorp.
Wlssahlckon
a
On Dec. 29 1917 the stockholders
approved the issuance of $950,000
collateral trust notes to pay for
150,000
$150,000—cpt/ 1M
6 J-J
15,000
1923
lint, at Albertson Tr. A 8. D. Co.. Trustee
Norristown Pass Ry stk ($50)4H
75.000
First mortgage
cpt/
4H
6 J-J
75,000
1923
(Int. at Albertson Tr. A 8. D. Co., Trustee
(а)
reproduction value
1473.
interest date.
lint, at Norris'n Title. Tr. &S.D.,Co., Trus
A
Street railway franchises In Norfolk
expire in
Valuation of City Gas Co.—See V. 110,
p. 1416.
Maturity.
$79,400
5 g F-A
cptl Subject to call
_
...
Issued.
6H
1932.
In Jan. 1913 Virginia
Supreme Court held company liable for the cost
paving between and two feet outside the tracks.
of
parent company.
Citizens'Pass Ry stock ($50).
1st mtge ($500) $80,000
gold/
These rights are only partly
light and power service
with certain rights of renewals.
Negotiations are in progress with the cities
of Richmond and Norfolk for the
entire revision of the railway and light
and power franchises.
and
follows. Including both
perpetual.
are
are
City of Suffolk granted a new 30-year franchise to do
business and made a 10-year contract for
municipal
up like amount of the Norrls
retire the Citizens'
Passenger Ry
The securities of the
subsidiary companies are as
those held by the
public and by the
and
the
Trustee.
$100,000 has been retired
perpetual.
capable of a large further development.
The more im¬
portant rights for lighting in Richmond expire in 1927 and 1928 and in
ManChester in 1931.
The Petersburg lighting franchises are
prepetual.
V. 89,
p. 529.
Franchises for street railways in Portsmouth
expire in 1920, 1927
cpt \
Int.atWestEndTr.AS.D.Co..Phlla..Trustee.
$100,000/ 1899
5 ann.
100.000 Aug. 1 1949
,—_—.—
Petersburg
utilized
Maturity.
$500,000
245.000
A
are
The principal railway franchises in
Richmond expire in 1926 ana 1931.
The Interurban railway franchise
expires in 1981.
The water power rightsin Richmond and
Ry.
Stock, $500,000 ($50)
131
was
entitled to
non-cum.
1914 and thereafter to non-cum. divs.
up to 0%.
listed on the New York,
divs. of 5% up to Jan. 1
Both
com. and
pref.
are
Philadelphia and Baltimore Stock Exchanges.
V.
92, p. 882, 1033,1111, 1375; V. 93, p. 230.
See official statement to N. Y.
Stock Exchange, V. 92, p. 1118.
Bonds.—$779,000
1st A ref. bonds are in treasury, and remainder
for
future
improvements,
subject
to
certain
restric¬
Sinking fund,
M % semi-annually of bonds out from 1914 to*
1919 and h% semi-annually thereafter; $699,000, not Included in amount
reported outstanding, held in sinking fund April 1 1920. Bonds are subject
to call at 105 A Int.
V. 92. p. 1212.
Listed on N. Y
Phila. and Baltimore
Stock Exchanges.
V. 94, p. 125; V. 90. p. 1425; V.100.P 667.
Unissued
Norfolk A Portsmouth 1st M. bonds of 1900 may be Issued for
acquisitions,
extensions and Improvements, but not over $500,000
In any one year.
A
sinking fund
of
H %
P«*
annum
of outstanding
bonds
began
June 1 1916, which Is to be Invested in the bonds;
$194,000, not lucl. in amt.
reported outstanding, held In sink, fund April 1 1920.
Are subj to call at
110 and Int. on any int. date upon 60 days notice.
Bonds are listed on
Phila., Boston, Bait, and Plttsb. Stock Exchanges.
V. 83. p. 492.
reserved
are
tions.
,
(б)
Trappe
&
Limerick
Electric Street Ry.
ORGANIZATION.—Incorporated In Pennsylvania on July 25 1899.
Was leased on Dec. 31 1901 to
Roxborough Chestnut Hill & Norristown Ry.
for 950 years at a rental
equal to
5% per annum
bonds, taxes and $100 maintenance expenses.
STOCK AND BONDS—
Stock $250,000 ($50)
First
mortgage
Date.
on
Interest.
capital stock. Interest
Outstanding.
$250,000
Maturity.
See
Car trust certfs.
tex t.
gT 1901
4H g J-J
250,000 July 1 193J
c*cpt(lnt.atRealEstateTitle Ins.ATr.Co..Phil.Tr.
$250,000
($1,000)
on
Bonds.—Are guar., p. & i. by
Roxborougn Chestnut Hill & Norristown.
ROAD.—Length of line 13.35 miles.
are
July 1 1921 to 1925.
101 and divs.
secured
Red.
V. Ill, p.
50 safety cars.
Due serially $50,000 each
whole on any div. date on 30 days' notice.at
on
as a
494.
Notes.—The coll. tr. notes mature as follows: $100,000
semi-annually
from Jan. 5 1919 to Jan. 5 1921 Inch, $200,000 July 5
1921, and $250,000
Jan. 5 1922.
Are subject to call all or in part at 102 and int. on
any
date
(c)
on
int.
30 days' notice.
Lebanon Valley Street Railway.—A trolley road.
Lease.—Leased to Reading Transit & Lt. Co. for 900
years from April 1
Annual rental of $40,000 and
yearly payment of $500 for organiza¬
as well as taxes and interest on bonds.
1910.
tion,
ORGANIZATION.—Incorporated on June 28 1899 as a consolidation of
the Lebanon A Annsville Street
Ry. and the Lebanon A Myerstown Street
Ry.
The United Power A Transportation Co. owns all the
10,000 shares
of the capital stock.
STOCK AND BONDS—
Stock $500,000 (par $50)
Date.
Interest.
First
mortgage
10-30s gold/ 1899
($100 $500 A $1.000)c_cptUnt. at
ReafEst.
ROAD.—Owns 22.08 miles of track.
90 A 100-lb. girder.
23 cars.
Outstanding.
REPORT.—Of combined properties (1919 report In V. 109,
p. 1886):
Maturity
$500,000
See text.
500,000 July 1 1929
T. Ins. A Tr. Co.. PhilsTTr.
Gauge 5ft. 2J4 In-
Dividends.—On pref.. first div.—1H%—paid July 1 1910.
In 1911.
1912 and 1913, 5%.
In 1914. 5H%In 1915 to and incl. 1918, 6% per
Jan. 1919 div. of 3% paid on July 20 1919. None since. V. Ill,
p. 190.
On com., first div.—1%—paid Oct. 1911. In 1912,
2%- In 1913 to 1917,
incl., 3%; April 1918 div. omitted (V. 106, p. 1127); Oct. 1918 div. of 6%
was made payable in the stock of the Old Dominion Iron A
Steel Corp.
V. 107, p. 1288.
None since.
ann.
Years end. June 30—
Fare passengers
Transfer A free pass'gers
Revenue transfer pass._
METROPOLITAN EDISON CO.—See "Railway and Industrial"
Sup¬
plement for May 1920.
Gross earnings
expenses
Net earnings
RICHMOND, VA.
1916-17.
69,807,331
17,865,$23
115,197,071
109,746,152
99,^99,943
87,573,154
108,620,075
95,063,353
452,886,600 475,881,800 426,911,70®»
$9,908,006
$8,429,283
$7,457,530
$6,044,4956,115,670
5,393,533
4,100,492
2,941,293
$3,792,336
$3,035,750
$3,357,037
$3,103,202
161,424
154,771
115,865
9S.391
$3,953,760
$3,190,521
$3,472,902
$3,201,593
$2,287,464
$2,104,700
$1,924,378
$1,817,057
Other income
POWER CO.
ORGANIZATION.—Incorp. tn Virginia on July 1 1909. and In successoi
to the Virginia
Passenger A Power Co. sold at foreclosure
May 5 1909.
V
89. p. 44, 105.
Tne reorganization was under
plan given in V. 87, p. 347
On July 1 1911 took over
by consolidation the Norfolk A Portsmouth
Trac. Co. (into which was
merged the Norfolk A Atlantic Terminal Co on
June 30 1911), and increased its stock to
$12,000,000 com and $8,000,000
pref.; $150 Virginia Ry. A Power com. was
exchanged for each $100 Norf. A
Portsm. com,; the
pref. was exchanged share for share.
V. 93, p. 100
For history of Norfolk A Portsmouth
Traction organization see
Electric
Railway Section" of June 1911. p. 84.
Through acquisition of Norf. A Portsm. Trac., the Virginia
Ry. & Power
Co. acquired the lease of the Norfolk
Ry. A Light Co. for 99 years from
June I 1906 and the entire
$100,000 capital stock and ($1,000,000) bonds
Ry. Co. (dissolved Apr. 5 1917).
of the Norfolk A Ocean View
On June 29 1912 sold to Richmond A
Rappahannock Ry. the "Seven
Pines Line" of railway. 29th and P
Sts., Richmond, xp Seven Pines. Henrico
County, 8.88 miles, for cash consideration of $25,000
V.
95. p. 1397.
On
July 20 1916 the shareholders ratified the
merger of the Richmond
Ry. A Viaduct Co. (all of whose stock was
owned), and auth. an increase
In pref. stock from $8,000,000 to
$9,000,000 In connection therewith.
The
new stock is held In
company's/treasury.
V. 103, p. 407.
Owns or controls
through lease
tric light and power business In
practically the entire street railway, elec¬
Richmond, Petersburg. Norfolk (all
except
line to Virginia Beach), Portsmouth and
Berkeley; an interurban railway
connecting Richmond and
Petersburg; a line from Norfolk to Sewell s Point
where connection is made
by/ferry to Newport News and Old Point Com¬
fort; electric light business of Suffolk,
Va.; the City Gas Co., with unlimi¬
ted franchises.
1917-18.
82,645,749
17,154,194
K.w. hrs. output, com'L 142,814,071 121,893,102
Gas sold, cubic feet
604,148,300
Operating
RAILWAY &
1918-19.
91,556,392
18,189,760
Rails 50, 75,
Total passengers
VIRGINIA
1919-20.
95,675,311
18,305,783
1,215,977
Net
income-.
Taxes, interest, Ac.
Preferred dividends..
Common dividends.——
Surplus for year
Direct charges to P. A L.
Depreciation
reserve
Bal. to profit A
*
6% of
Iron A
(3%)239,976(6%)479,952(6%)476,$52
$1,666,296
150,657
*594,480
x300,679 (1^)179,243 (3%)35$,4*2
$545,166
$889,330
$549,702
144,732
120,077
192,44$
*505,766
*469,802
*359,904
loss_sur.$921,159def.$105,332sur.$299,451
gross earnings,
Steel Corp.—Ed.
x
def.$2,650
Represents 2.5158% in stock of Old Dominion
ROAD, AC.—The company operates 255.09 miles of single track; 569
service cars.
Also owns valuable park properties and
Rails, 95 to 119-lb. girder and 60, 70
and_80-ib. T.
5
power stations and 18 sub-stations, combined capacity 129,5/5 k. w.
A
transmission line between Richmond and
Norfolk, completed and in opera¬
passenger and 49
other real estate.
tion in
1920.
OFFICERS.—-Pres., Thomas S. Wheelwright, Richmond; Vice-Presi¬
dents, Fritz Sitterding; V.-P. A Gen. Mgr., O. B. Buchanan of Richmond;
V.-P. A Gen. Counsel, E. Randolph Williams, Richmond; Sec. A Treas.,
Geo. B. Williams, Richmond; Asst. Sec. A Asst. Treas., Geo. H. Taylor,
New! York; Gen. Aud. A Asst. Treas., W. J. Kehl; Asst. Gen. Aud. A Asst.
Treas.. A. E. Dickson.
General office, Richmond, Va.
N. Y. office, 149B'way.—V. 110, p. 765, 1416; V. Ill, p. 190, 494, 794, 1473, 1662.
[Vol. .111.
ELECTRIC RAILWAYS
123
Date.
Interest.
Outstanding.
Maturity.
1889
5 M-N
500.000 Nov 1 1939
$500,000
Interest at N. Y. Trust Co.. N
Y., trustee
($1.000)
1891
5 J-J
39,000
Jan 1 1931
(Jtica Belt 2d mtge $200,000
gold ($.500)
..c Interest at N. Y, Trust Co., N. Y., trustee.
1895
' 5 g J-J
150.000
Jan 1 1926
Herk Mo Ilion & Frankfort
Int. at Farmers' Loan A Tr. Co.. N.Y., trus.
mtge g $150,000 ($1,000)c*
1896
5 g M-S
2.500 000 Mar I 1946
8yrac R T 1st M ($3,250,000)
gold ($1.000)
c* Guaranty Trust Co., New York, trustee
1900
5 g J-J
654.000
Jan 1 1930
do
2d mtge $750,000 ($1
trustee.
000) gold
i Int. at Citizens 8av A Tr.Co-.Oiev
1891
5 J-J
750.000
Jan I 1921
People's RR first mortgai
t
nterestat Merchants' Nat. Bank, Syracuse.
gold ($750.000) ..
5 J-D
250.000 June 1 1929
East Side Traction 1st M f 1899
$250.000 ($ 1.000) gold . . I •it at Citizens 8av A Tr. Co.. dev., trustee
STOCK AND BONDS—
Light.
Norfolk Railway &
(1)
(»lnce
consolidated
Utica Belt 1st mtge
Traction Co.
1906 to Norfolk A Portsmouth
Lease.—Was leased oo June 1
with Virginia Ry. At Power
Co.) for 99 years, rental
fin addition to all fixed charges), $16,500 each June 1 and Dec. 1
1906 to June 1.1907, Inclusive, and increasing to $49,500 s.-a.
Dec. 1 1912 and thereafter.
V, 82, p. 1323.
being
from June 1
on
ORGANIZATION.—Incorp. In Va. Nov. 2 1899 as a
following; Norfolk Street RR., Norfolk
Co. and Berkeley Light A Power Co.
consolidation of the
& Ocean View Ry., Virginia Elec.
Owns entire stock of the Norfolk
Light, Heat A Power Co.
Street railway franchises expire in 1914, except
small portion of mileage in Norfolk, which expires in 1934.
Electric
light franchise expires in 1930.
The company controls the street railway,
electric lighting and power business of the city of Norfolk and owns a line
of railway to Willoughby Spit and connects with steamer to Old Point
Comfort; also owns 4.011 shares out of 5,000 shares of the stock of the
a
City Gas Co. of Norfolk, remaining shares, 989, owned by Virginia Ry.
A Pow. Co.
On Aug. 30 1904 the City Gas Co. purchased the Berkeley
Gas Co.
V. 79. p. 968.
Stock is listed on Phila. and Bait, stock exchanges.
STOCK AND BONDS—
Date.,
Maturity.
Outstanding■
Interest.
6 J-D
$1,650,000 June20.3%
$1,650,000 ($25)
1898
5 A-O
10.000 April 1 1928
$500,000 gold ($ 1.000L
1 Int. at B. S. Mtge. & Tr. Go.. N. Y., trustee.
5 g J-J
887,000
Jan 1 1944
Norfolk Street 1st cons mtgef 1898
Bait., trustee.
$1,040,000 gold (ll.OOO)-C] Int. at Merc. Tr. & Dep. Co
5 g M-N
2.567.000 Nov 1 1949
Norfolk Ry A Lt 1st cons mtgf 1899
$4,000,000 g ($1.000) s f -c* VInt. at Internat. Tr. Co., Baltimore, trustee.
6 J-D
500.000
June 1926
City Gas Co first mortgage,,
U, S. Mortgage A Trust Co., N. Y., trustee
Stock
—
—
—
....
j
consol. mtge. $1,050,000 Is reSinking fund began Nov. 1 1909. and
provides for the purchase of 1 % nf outstanding bond* each year at 110 or
less.
See V. 70, p. 584.
$425,000 of bonds not reported outstanding held
in sinking fund April 1 1920.
$171,000 Norfolk Street RIi. bonds not re¬
ported outstanding also in sinking fund as of April 1 1920.
Bonds.—Of the Norfolk Ry. & Light first
to
retire underlying bonds.
OFFICERS.—Pres., Thomas S. Wheelwright; V.-Ps.. T. Norman Jones
& Treas., W. J. Kehl.—V. 82, p. 1323; V. 106,
Jr. and F. Sltterding; Sec.
925.
p.
.
I
,
Y.
ROCHESTER, N.
stock, $13,604,300
NEW YORK STATE RAILWAYS.—Of the common
(also $600 pref.) owned by New York Central RR.
ORGANIZATION —Incorporated In New York on March 22 1909 as a
consolidation of the Rochester Ry. Co.. the Rochester & Sodus Bay Ry. Co.
»nd the Roeb. & Eastern Rapid Ry. Co. 'as per plan V. 88, p 53. 823. 945.)
and on Oct. 17 1912 the P. S. Comm. approved the further merger with the
Otica A Mohawk Valley Ry., Oneida Ry.. Syracuse Rapid Transit Ry
and
Rochester A Suburban Rv.. all of whose storks had ulreadv been owned.
Side Trac¬
Compare
Aug. 28 1919 the co. merged into itself the East
stock of which had been owned since 1912.
V. 95, p. 1040.
tion Co., the entire
V.
108,
p.
.
Stock.—Preferred stock can be increased only with
thirds of outstanding preferred stock, and holders are to
683.
Railway
Rochester
was
a
consolidation
Rochester City A
of the
Brighton RR., the Cross-Town RR. and the South Park RR., and leased
July 1 1894 for 50 years, at a rental of 8%
$200,000 stock, and whenever gross receipts exceed $55,000. one-quarter
the Rochester Electric Ry. from
on
of such
excess.
Traction Co.,
the Rochester
Ry. & Light Co.
Bonds.—Of the first
Coram authorized an increase in stock from
$23,140,200 to $23,860,200 to be used to take over the Rochester & Subur¬
ban Ry. (stock $420,000) the Rochester Electric Ry (stock $200 000) and
the Ontario Light & Traction Co. (stock $100,000).
See V. 90, p. 914,1425.
In Jan. 1912 applied to Public Service Comm., 2d Dist., for authority to in¬
crease stock to $25,362,500.
V. 94, p. 68.
Permission was not granted.
The following is a list of the stocks owned
by the N. Y
8chenectady Railway Co
—$2,050,000
10.000
Syracuse Land & Steamboat Co_.
4,450
Syracuse & Valley Land Co
Glen Haven Improvement Co—
14,500
ion.ono
Ontario Light & Traction Co
Rochester Electric Railway Co175,000
Miscellaneous
7,695
of whole amount
or
50%
" 100%
"
"
100%
100.00%
100.00%
"
provided in each case that the annual net income (fool net Inc. on securities
owned) shall be 1H times the annual int. charge on all bonds, lucl. underly¬
ing bonds then outstanding and any add'l 1st consols, desired to be Issued.
Ser. A. bonds are red. at 105 A int. on 60 days' notice.
V. 95. p 1208; are
isted on N. Y. Stock Exchange; exempt from Federal, State, county and
municipal taxes.
Rochester Ry. cons. & 2d M. bonds cannot be called.
Syracuse Rap. Tran.
"
REPORT.—Combined statement for years
Rochester
are
Calendar
Favorable Jitney
$189,090
exclusive,
witt
.
long-term eon
Corp., whose entire com. stock is
owned by N. Y. Central RR.).
Decision.—See V. 102, p. 2167.
1916 the Court of Appeals upheld the constitutionality of
Charlotte annexation bill which provides for a single 5-cent fare within
On Dec 29
the
the
extended.
The co. appealed from the decision, was defeated,
and carried the case to the Supreme Court, and on Sept. 13 1918 a decision
favorable to the company was rendered.
as
hearing held before the P. S. Comm. on Feb. 26 1919
appraised valuation of the co. was given as $53,326,235. For valuation
in Syracuse see V. Sill, p. 1472.
Valuation.—At
a
of the co.'s property
auth. to increase fares
Rome, Oneida,
Pounds in the
N. Y. State Court of Appeals at Albany nanded down a decision holding
that the Commission cannot increase fares on Rochester surface lines.
The
court held that where a municipality and a street railway corporation have
entered into an agreement to fix the rate of fare at 5 cents, the pact Is
binding.
V. 106, p. 1461.
[On Oct. 21 1919 the Court of Appeals reaf¬
firmed this decision.
V. 109, p. 1610.]
In Nov. 1918 the P. S. Comm.
auth. the company to charge a 6-cent fare in Syracuse and Utica "for the
duration of the war and a reasonable time thereafter."
V. 107. p. 2098.
On May 25 1920 the co. began charging a 7-cent fare in Rome.
On July 16
1920 the Mayor signed the service-at-cost contract passed by the Rochester
Common Council.
This provided for a 7-cent fare, effective Aug. 1 1920.
V. Ill, p. 389, 896, 990.
Compare Y. Ill, p. 190.
Fares.—In June 1917 applied to P. S. Comm. for
from 5 to 6 cents in the cities of Rochester, Syracuse, Utica,
and Little Falls.
On April 18 1918 Judge Cuthbert W.
ROAD.—On Dec. 31 1919 operated 337.44 miles of railway, of which
276,43 miles owned, 60.92 miles leased, and .09 trackage rights.
Miles
main single track. 559-97 (of which 427.46 miles owned, 132.33 miles
and .18 miles trackage rights); sidings, Ac., 36.98 miles; total track mileage,
596-95.
Miles of railway owned, leased and operated by subsidiary cos.,
in addition to mileage operated directly by N. Y. State Railways:
leased
a
4 69
Rochester Electric Railway
_
253
Ontario Light A Traction Company
b Schenectady
Ow^ated
Leased
Owned
a
9 58
59.78
Railway Co
69.30
9.58
69.36
half Interest.
(including 2 electric
67.00
Total...
b
Leased to N. Y. State Rys.
N. Y. State Rys. owns a
Has 844 passenger, 20 express and
locomotives) and 39 snow plows; total,
135 other cars
1,038.
OFFICERS.—Pres., James F. Hamilton; V.-Ps., John Carstensen
and Benjamin E. Tilton; Treas., M. S. Barger, N. Y.;
Treas., J. C. Collins, Rochester; Asst. Sec., H. L. Reichart.
Rochester, N. Y.; Gen. Aud., J. M. Joel.—V. 110, p. 1078, 2488, 2658;
V. Ill, p. 74. 190, 389, 589. 896, 990, 1279, 1472.
Sec. A Asst.
Schenectady Railway.—A trolley road.
jointly by the N. Y. State Rys. and
V. 80, p. 652; V. 87, p. 286, 545;
(1)
Entire stock is owned
Hud. Co.. one-half by each.
Syracuse
Street Railway Commission.—For principal
Comm. recommending service-at-cost for Syracuse
The $175,000 Rochester City & Brighton 1st Mtge. 6s due April
not retired at maturity, but have been extended indefinitely
were
1 1919
at the
rate of interest.
Date.
STOCK AND BONDS—
Common $19,997,700 ($100)
Pref $3.862.500 ($100) 5%cum
1st cons M Ser A $50,000,000 f
gold ($1,000)
Outstanding.
Interest.
Q-J
Q-J
~
~
Maturity
$19,952,400
See text '
|
3.862.500 Apr '18. 1M
1912
4H>M-N
Security Trust Co.
IO
AC.-7
nrwn
t
13.457.000 Nov 1
of
Rochester,
the Del. A
V. 88, p. 54
ORGANIZATION.—Incorporated In New York
A reorganization on
11 1895 of Schenectady Street Ry Co., which was charter^ in 1886.
business In Schenectady and owns and
operates double-track lines to Albany. Troy and Ballston 8pa. and. under
traffic agreements with the Hudson Valley
Ry.. from Ballston Spa' to
Saratoga Springs
Has trackage rights over the United Traction Co, •
tracks Into Albany and Troy.
Franchises perpetual.
Eeh
of
a
Regarding
Fares—On May 21 1914 the P. S. Comm.
friLMi
19H2
trustee
V. 98, p. 1609.
straight rate of 5 cents.
in which an order
a quarter Instead
See also V. 100, p. 231.
certain franchises within the
tady as to 5-cent fares were
city of Sehenec-
waived by Common Council
May 24 1920.
Commission on July 27 1920 decided favorably upon the applica¬
tion of the company to increase rates.
The increased rates, made effective
Aug. 1 1920, were as follows:
(a) On the Schenectady urban lines the rate
of fare was increased from 6c. to 7c.
(b) On the Troy interurban division,
the Schenectady-Troy rate was increased from 31c. to 35c.
Intermediate
zone rates were changed from 6c. to 7c., the minimum interurban fare,
(c) On the Ballston interurban division, the Schenectady-Bailston rate was
increased from 30c. to 35c.
The intermediate zone rates were changed
from 6c. to 7c., the minimum interurban fare,
(d) On the Albany division
the Schenectady-Albany rate was increased from 28c. to 29c
The P. S.
Maturity
See text
11946
gold ($1.000)
cMU. S. Mtge. A Trust Co.. N. Y., trustee.
Bonds.—$324,000 additional bonds may be Issued to retire floating debt
and for other corporate purposes
Remainder of first $5.000,000(Ser."A")
may be Issued from time to time for cash cost of extensions and permanent
improvements.
Bonds in excess of $5,000,000 may only be issued for 80%
of cost of extensions, Ac., under conservative restrictions, and may bear
interest, not exceeding 6%
and be callable under such terms and condition*
the directors mav determine
fler. " V bonds are callable at 102 K and
int. on any int. date.
Exempt from N. Y. State, county municipal per¬
STOCK AND BONDS—
Stock$7,000,000 ($100) — —
Eirst.
mortgage
$20,000.0001
Interest.
Date.
Outstanding.
$4,100,000
-—
2.676.000 Mar
5 g M-S
1916
—
as
sonal property taxes.
V. 102, n. 887.
Dividends.—Initial div.—2H%—in 1906:
4%; 1910. 6H%; 1911 to 1915. 6%.
In
EARNINGS.—
Cal. Year—
1918
1907 and 1908. none, in 1909'
1916. 5%.
In 1917. 3*A%.
since.
None
1919
Recommendations of
features of report by Ry.
see V. Ill, p. 1279.
same
allowing
Gross
Revenue.
Ilsmlssed the complaint of the City against the company
was asked compelling the companv to sell six tickets for
Contrael for Power —Power for all lines is supplied under a
owned by Mohawk Valley Co. (in turn
the
end. Dec. 31 (after
charges)—1919 report in V. 110, p. 1078;
Net, after Other
DeducSink. Pf.Divs. Balance,
Year—
Taxes,&c. Income,
tions.
Fund. (1%%)-Sur. or Def.
$
$
$
.$
$
$
•$
1919—-9,405,911 1,668,550 37,473 1,361,816 31,641
----- sur.312,566
1918—.8,470,160 1,291,789 38,505 1,374,076 31,067 48,281 def.123.130
for Inter-company
Favorable Decision
"
•
tract with the Rochester Gas &-Electric
city limits
call on any interest date.
April
from
1915, 4%; in
Fares.—The restrictions in
practically perpetual and
few extensions which run for 50 years.
in
a
2d M. bonds are subject to
Dividends.—1M % on pref. paid July 1909 and quar. to and incl.
July dlv. passed [see VT 106, p. 2759).
On com., 1H % quar.
July 1910 to July 1914; Oct. 1914, 1%.
V. 99, p. 894.
In
1916, 45i%; in 1917, Jan., 1%; April, i%; July. 1%.
None since.
1918.
-
"
88.30%
" 2 to 8%
railroad bonds.
exception of
The remaining bonds may be Issued for equip.. Impti..
of the cost, and for acquisitions at actual costs,
underlying bonds.
Controls the entire street railway
State Railways
$56,155 City of N. Y, 4ki% coup. "Corp. "stock and
Franchises
are
$lli486,000 are reserved to retire
boads.
consol.
110
Ac., to the extent of 90%
On March 10 1910 Pub. Ser.
owns
two
have right to take
proportionate shares of such increase.
Stock is subject to call at
upon any div. day on 30 days' notice.
V. 88. p. 945Both stocks
listed on N. Yi Stock Exch.
See official statement. V, 92, p. 951-
Walter Kernan
In 1917 the property and franchises of the Ontario Light A
other than the electric railway property, were disposed of to
Also
......
consent of
their
a
The
36.000
Real estate mortgages
—
Virginia Electric Co. 1st mtgel
•erved
gold
.
Gross
Net
(after Other (.net)
Deduo-
Earnings.
Taxes).
Income.
tions.
.$1,664,282
1,422,654
$193,274
91,759
$3,913
def1,079
$151,485
150,715
Balance,
Sur. or Def.
sur.$45,703
def. 60,035
ftOAD.—Operates 139 73 miles of track, of ?vhich 114.49 miles owned
and 25.24 miles operated under traffic agreements.
70. 75, 78 and 80-lb.
I
girder rail.
Has agreement with Fonda Johnstown A Gioversville
Ry. Co. (electric division) whereby latter company operates its cars into
Schenectady.
Operates 200 motor and 33 other cars.
OFFICERS.—Pres., James F. Hamilton;
V.-P., Harry B. Weatherwax;
Gen. Supt., Wm. S. Hamilton; Sec...Treas. A
Gen. Aud., J. C. Cokins, Rochester; Aud.,. W.
2561; V. 107, p. 502, 1385; V. 110, p.
Purch. Agt., J. H. Aitkin;
F. Smith.—V. 106, p. 612.
563, 2488; V. Ill, p. 589.
ITntorest at Treasurer's office. Now York
Consolidated ( 1890
5 g A-O
2.663.000 April! 1930
f$l.-IInterest at Treasurer's office. New York
c*1 Bankers Trust Co.. New York, trustee
Roch
Ry 2d M $1,500,000!
1893
5 g J-D
1.500.000 Dec 1 1933
gold ($1,000)
c#]Tnt. at Security Tr. Co., Rochester, trustee
Rochester City A B 1st, mtgef 1889
6 A-O
175.000 April 1 1919
$500,000 ($500)
] Interest at Rochester Trust & Safe Deo- Co
Utica A Mohawk Vail 1st Ml
1901
4H i M-S
2.268.000 9ept 1 1941
Rochester
Ry
Mortgage $3,000,000
000) gold
$4,000,000
c*
gold
($1.000)(Interest at Harris. Forbes & Co.. New York:
New York Trust Co.. New York, trustee.
..cannot be called I
ROCHESTER
LOCKPORT
&
BUFFALO RAILROAD CORP.
ORGANIZATION.—Incorporated in New York on April 4 1919 as suc¬
cessor to the Buffalo Lockport A Rochester Ry. (for history see "Electric
Railway Supplement" of March 29 1919) as per reorganization plan in
V. 108, p. 682.
The 1st Mtge. bonds of the old co. were exchanged for
$500 pref. and $750 common stock of the present company for each $1,000
bond, while the 2d Mtge. bonds of the predecessor co. received $500 in new
pref. and. $500 in neio common stock for each $1,000 bond.
The common
and pref. stocks of the old co. did not participate in the plan.
Oct., 1920.]
ELECTRIC
RAILWAYS
Fares.—Was auth. by the N. Y. P. S. Comm. to
pat into effect in Lockport on April 1 1919 a 6-cent fare, to continue for 1
year and thereafter until
further order of the Comm.
V. 108. p. 1390.
Compare Y. 106, p. 2449.
Effective July 10 1919, interurban rates were
raised to 2% cents per mile
with 1M cents per mile for
commutations; and, effective July 1 1920, these
rates were further raised to 3 cents
per mile and the commutation rate to
133
(1) Knox County Electric Co.
In Feb.
1901 the Rockland Thomaston & Camden St.
Ry. was consoli¬
dated with the Knox Gas & Electric Co. and a new
mortgage for $800,000
was made from the
proceeds of which the old bond issues of both
companies
retired.
were
The consolidated co. was operated under the name of the
Rockland Thomaston & Camden St. Ry. until
April 1 1919, when the present
was adopted.
V. 108, p. 2022.
86% of the stock is owned t>y the
Maine Railways, Light & Power Co.
1H cents per mile.
title
STOCK AND BONDS—
Common $2,200,000--
Preferred $1,500,000
Date.
Interest.
cum
Outstanding.
Maturity.
$2,199,250
1,499,500
6%
STOCK AND BONDS—
Stock $400,000 ($100)
Stock.—Preferred stock is pref. as to assets and dividends.
The by-laws
provide that no mortgage snail be placed on the
property or assets of the
co. in
priority to the pref. stock, without the consent of the holders of twothirds of the outstanding pref. stock.
V. 108, p. 682.
EARNINGS.—For
years
«Gro.ss
^
Cal. Year—
1919
$553,566
1918
455.483
ROAD.—Operates
other
Taxes).
$127,770
110,962
about
58
miles
between
Rochester
Rails 70 to 80-lb.
and
(2)
MANITOU
Rochester
Charlotte
&
Aug. 12 1908.
on
Manitou,
STOCK AND BONDS—
Stock $60,000 («100)-_._
sold
Oxford
Electric
Co.
Dale.
Interest.
1908
8TOCK AND BONDS—
Common stock $50,000 ($100*
Maturity
Pref6 % non~cum$30,000 ($ 100)
First & ref mtge ($500
July
21
Outstanding.
$60,000
58,000
First
BONDS.—$2,000 bonds
105 and
at
Earnings.—For
$1,966.
In 1918,
remain
int.
on
unissued.
No sink. fund.
8 weeks' notice.
Bonds
Date.
30.000
ROME,
B.
Fare Increase.—In Jan. 1919
&
POWER
auth. by the Ga. RR. Comm. to increase
was
V. 108, p. 172.
STOCK AND BONDS—
ISLAND, ILL.
RY.
GA.
ROME RAILWAY & LIGHT CO.—A trolled road
on Nov. 30 1906 as suc¬
cessor to the City Electric Ry.
V. 83. p. 1591.
Furnishes light and power
to city and
private individuals.
Franchises expire 1985; street railway
franchises practically exclusive.
In 1910 canceled the old first and consol.
mortgages and made a new first mortgage as shown below
ORGANIZATION.—Incorporated In Georgia
fares by 1 cent.
ROCK
Maturity
$50,000
are
end. Dec. 31 1919, gross, $35,515; net, after taxes',
gross, $26,905; net, after taxes, def., $2,072.
VALLEY
Outstanding.
1916
5J& J
175,000 Jan 1
1930
\lnt. at Union S. D. 9c Tr. Co., Portland, Tr
$1,000)
year
OFFICERS.—Pres., Henry W. Wedel; Sec. and Treas., Kendall
Castle; Supt., Geo. M..Wegman.—V. 87, p. 545; V. 88, p. 1314.
MISSISSIPPI
Interest.
,
and/
mortgage $60,000 goldl
1909
5 g M-N
May 1 1929
($500 and $1,000)—c*ntfi.Int. at Security Trust Co.,
Rochester, trustee
•ubject to call
Lt.
Co.
Entire common stock owned by Maine
Rys., Light & Power Co.
Operates 2.13 miles of electric railway between Norway and Paris; 40-lb
T rail; standard gauge.
Also does an electric light and power business
Acquired property oJ
foreclosure
at
See text
ORGANIZATION.—Chartered in Me. Nov, 14 1894 as the Norway 9c
Ry. (see this Section for Sept. 1916).
Name changed to above
Jan. 6 1916 and refinanced as shown below.
On March 29 1916 acquired
RR.
ORGANIZATION.—Incorporated
tha
Maturity.
$400,000
Paris St.
the Mechanics Falls Elec.
&
Outstanding.
4 g J-J
800,000 Jan
1 1921
Union S.D.&Tr.Oo., Portland, trust
EARNINGS-.—For year end. Dec. 31 1918, gross, $130,211; net, after
taxes, $60,578; other income, def., $502; deductions, $42,555;
bal., surp.,
$18,521.
Lockport.
OFFICERS.—Pres., E.R.Wood, Toronto, Ont.; V.-P., A. S.
Muirhead;
Sec., Treas. & Gen. Mgr., W. W. Foster, Rochester, N. Y.—V.
108, p. 1512.
ROCHESTER
Interest.
1901
ROAD.—Operates 23.92 miles of track from Warren through Thomaston
to
Rockland, Rockport and Camden.
In Sept. 1901 purchased "Oaklands," a park of 75 acres, for a pleasure resort.
20 pass.. 1 express car
8 freight cars. 4 work cars. 3 snow
plows and 1 combination car.
.
$4,041
5,168
Date
gold]
($500 and $1,000)—c.cptilnt. at
sinking fund and bonds cannot be called.
Dividends.—Are being paid quarterly at the rate of
5% per annum.
Interest,
Balance
entals, &c. Sur.or def.
$6,678 sr.$125,134
209,299 def. 93.169
Income.R
JSOO.OOO
mortgage
Bonds.—No
ending Dec. 31:
Nel (-after
Earninas.
1st
Date
Interest
Common, $1,000,000 ($100)
Pref. $100,000 ($100), 7% cum
CO.
Outstanding,
Q-J
Maturity
$650,000
See text
Q-M
100.000
See text
mtge, $3,000,000, gold/
1916
5 g A-0
850,000 April 1 1940
($500 and $1.000)—c*cpt(Int. at Spencer Trask & Co.. New York
or
/
Fidelity <fc Columbia Tr. Co.. Louisv., Tr.
First
ORGANIZATION-—Incorp in Delaware July 1 1915 to take over the
Rock Island Southern Ry., the Aledo Terminal
Ry.. the Rock Island AtoxL
Ry. and the Edwards River Power Co. (all
formerly operated by the Rock
iBland Southern Ry.), as per plan of readjustment in V.
101. p. 449.
Under
the plan acquired all the com. and
pref. stocks of these companies and
$1,341,200 (out of $1,873,200) 1st M. bonds of the Rock Island Southern
Ry. and $415,000 Aledo Term. Ry. 1st M. bonds.
Default—Interest Funding Plan.—Being In need of at least $150,000 for
the rehabilitation of the Rock Island Southern
Ry. property, and finding It
Inadvisable to sell additional prior lien bonds In view or the
unsettled
finan¬
cial situation, the Miss. Valley Ry. & Pow. Co.
entered Into an agreement
with the holders of the $532,000 Rock Island Southern
Ry. bonds not owned,
by which the time of payment of interest on those bonds and the bonds held
by the M. V. R. & P. Co. will be extended for 3 years.
The M. V. R. & P.
Co. being without funds to pay the interest due
July 1 1917 on Its 1st & ref.
bonds, holders of said bonds have been requested to exchange their
5%
coupons for the 3 years beginning July 1
par for par.
The unissued Prior Lien
further details
see
V.
105,
p.
1917 for bonds of the same Issue,
bonds are to be canceled.
For
607.
principal due June 1 1917 on the
Ry. remaining unpaid, the
$532,000 1st M. 5% bonds of that company pledged as
collateral, were
sold at foreclosure Aug. 27 1917.
presumably to the committee for the note¬
holders.
Compare V. 105, p. 607.
C.
trust notes of the
V. 110, p.
STOCK AND BONDS
Dale.
Common stock $2,500,000
Preferred stock .$2.000.000
Prior Lien bonds $300,000
lstf 1915
Interest.
Outstanding
Maturity.
$2,291,060
1,079.524
5 J-J
abt.175,000
See text
($100,( 1915
5 J-J
_abt.800.000 July 1 1945
c*[Int. at Columbia Trust Co., N Y.. trustee.
Rock Island Southern Ry.—
First mtge $2,500,000g($100)f 1908
5 g J-J
1.873,200 Jan
11947
$500 and $1,000)
tf {Central Trust Co., Chicago, trusteo.
Voting Trust—The
and pref. stocks have been deposited fh
com.
a
voting
trust expiring in
1920.
Trustees: Henri C. Morand, A. C. Chambers,
T. P. Gay lord, J. J. Fleming. J. A. Hanley. M A.
Walsh, O. H. Walsh and
Will H. Clark.
Bonds.—Provision
is made for the retirement of the prior Hen bonds out
of the sinking fund or by the sale of other bonds, the bonds taken In
ex¬
change for the old securities then becoming an absolute first Hen.
Addi¬
tional bonds may only be Issued for betterments,
extensions,
&c., under
carefully guarded restrictions.
$1,341,200 of the R. I. Southern Ry, bonds
are owned by the Miss. Vail. R. & P. Co.
Latest Earnings.—For cal. year 1919, gross, $310,745; net, after
taxes,
In 1918, gross, $321,069; net, after taxes, $54,352.
$61,092.
ROAD.—Runs north from Monmouth to a connection with the Oblc
Rock Island & Pac. Ry. at Monmouth Junction, 31 miles, and thence
op¬
erating into city of Rock Island, a distance of 22 miles, over line leased for 26
years from C. R. I. & P. Ry.. which has been electrified.
Also 7 miles from
GUchrist June, to Aledo and 6 miles from Alexis Jet. to Alexis.
Total
miles of single track operated, 72.29.
Has connections for Davenport,
la., Mollne and Galesburg, 111.
10 pass.. 243 freight, 2 express and freight
and 7 work cars; 7 steam locomotives.
75-85-Ib. rails.
Also operates thf
power house located at Edwards River.
OFFICERS.—Pres., J. A. Hanley, Davenport, Iowa; V.-P.,
Gaylord, Pittsburgh; Sec., M. A. Walsh, Clinton, la.—V. 101,
V. 105, p. 607; V. 110, p. 1642.
T. P.
449;
p.
RAILWAYS,
LIGHT &
POWER
EARNINGS.—For
cal. year 1919, gross, $242,905; net, after
taxes,
In 1918, gross, $200,497; net after taxes, $59,492.
Property.—Opnrates 12 .1 miles of street rail way line In Rome. Ga., Incl.
extensions
to
Lindale and Scales
and 60 & 70-Ib. T rails.
Also
erve),
OFFICERS.
STOCK AND BONDS—
common
Date.
Interest,
at
on any
250.000
&(
[
5 J-J
1914
Int date! Int.
102
99,
p.
1832.
Maturity
$250,000
Pref 6% cum ($100) $500.000
$1,000) red
v.
Outstanding
($100) $500.U00
Coll bonds $260,000 ($500
at
Union
Safe
See text
170.500 July 11919
Dep. 9c Trust Co..
Portland, Me., trustee.
Earnings.—Of controlled properties for 12 mos. ending June 30:
Gross.
Net (aft. Taxes).
Charges
Surplus.
.$290,053
$86,273
$42,550
$43,723
1915-16
268,496
91,003
39.992
51.011
OFFICERS.—Pres., William T. Cobb; Treas.. F. H. Bradford; Clerk
J. H. Drummond; Aud., E. J. Thompson.
Address, Union Mutual BIdg.,
Portland, Me.—V. 99, p. 1832.
Year—
1916-17
—
Pres.
S. A. Culbertsou; V.-P
and Gen.
LONG*ISLAND,
ROSLYN,
NEW YORK &
girder
NORTH SHORE TRACTION
p.
(held
in
re-
Mgr
S. S. Bush;
146; V. 108, p. 172
N.
,
Y.
CO.
1902
as
th"
changed to present
1907 by order of Supreme Court.
In March 1912 Public
Service Coram
approved the making of a new mtge. and the issuance of
$800,000 bonds thereunder; also auth
the Issuance of $757,500 additional
stock (V
94, p. 698; V 93, p. 940).
The new bonds were Issued in April
1914, part of the proceeds being used to retire the $350,000 1st M. bonds
title
of
Aug. 26
1907.
Fares.—On June 26 1917 the P. S, Comm., 2d
DJst., authorized an
increase in fare from 10 to 15 ets. between Mineola and Port
Washington;
also granted increases between other points on the lines in Nassau
County.
On Jan. 9 1918, the Public Service Commission for the First District denied
the company's application for an increase in fare from 5 to 7 cents on its
lines in Queens Borough, N. Y. City, holding that. Inasmuch as the co.
obtained the consent of the City of New York to the use of
city streets
only by agreeing never to charge more than 5 cents as its rate of fare, the
Comm. has no power to authorize an increase fare unless the
city shall
first waive or modify the limitation contained in its franchise contract
with the company.
V. 106, p. 296, 1127.
Patrons of the line for a time
voluntarily contributed two cents in addition to the regular ,5-cent fare,
in an effort to help keep the road operating.
On Aug. 28 1919 P. S. Com¬
missioner Nixon auth. a zone system providing for 4 zones with
fare in any single zone and an 11-cent fare for a continuous
a
trip.
888.
6-cent
V. 109,
A suit was begun in the Supreme Court on Sept. 17 1919 to have
this order declared null and void.
For further particulars see V. 109, p*1180
p.
On Oct. 27 1919 P. S. Commissioner Nixon
was
served °with
writ of
a
cer¬
tiorari, obtained by Corporation Counsel Burr from Justice Gavegan of the
Supreme Court, calling for a review of the above order.
V. 109, p. 1700.
Service, which for a sbort time had been suspended, was resumed about the
middle of March 1920.
V. 110, p. 1188.
Operations however
were
shortly
suspended again and
no cars have been operated since.
V, 111, p. 189,
1472.
On March 23 1920 was auth. by the N. Y. P. S. Comm. to
put into effect
the following fare schedule:
Between Port Washington and Mineola
896.
1183.
(four
zones of 7c. each), 28 cents; City Line, Little Neck and Mineola
(four zones
of 7c. each), through, 28 cents; Mineola terminus and Hicksville
(2 zones of
8c. each), 16 cents.
V. 110, p. 1526.
Foreclosure Proceedings.—In May f920 the Citizens'
$1,250,000
BONDS—
Date.
Interest.
Outstanding.
($50)
Maturity
$979,350
First mtge $3.000.000g($l00,1
1914. 5 A-O
800,000 Apr
1 1954
$500 and $1.000)
c* tf/Int. at Citizens' 8av. & Tr Co., Clev.. trust.
Bonds.—Sinking fund created for property, which will revert to City of
New York, at
expiration of franchises.
Moneys may be used to retire
bonds or for acquisition of new proDerty.
Subject to call at 102 and int.
at
any
Int. date.
Edwin
EARNINGS.—For
V.
year
Hale, Cleveland.
O..
Is co-trustee.
ending June 30:
Net
(a'ler
Other
Interest,
Balance,
Year—
Gross
Taxes).
Income.
Rents, Ac.
Sur.orDef.
1917-18
$160,591
$21,348
$9,356
$48,551
def.$17,847
1916-17.
$158,361
$37,920
$1,710
$48,518
der.$8.882
Latest Earnings.—For cal. year 1919, gross. $146,711; net, before taxes,
def., $2,161.
In 1918, gross, $151,859; net, before taxes, $4,634.
ROAD.—Operates
through Bayside.
from
Flushing
Douglaston, Little
to Whitestone, and from Flushing
Neck, Manhasset, Roslyn, Mineola
and Westbury to Hicksville, with btanch from Roslyn to Port Washington:
total track. 38-08 miles: 29.42 miles of road.
Standard gauge; 70 and 103-lb
Cars (motor 19. other 4). 23.
Owns power station with two
turbines.
-•
OFFICERS.—Pres. Geo. A. Stanley, Roslyn; V.-P., Benj. A.Hegeman
girder rail.
1.000 k. w.
„
—
90-lb.
gauge;
ORGANIZATION —Incorporated In New York on Aug. 6
Mineola Roslyn & Port Washington Traction Co.; name
a gas
Warren, Norway. Paris, Mechanics Palls and Oxford,
Stock
Standard
Louisville, Ky.; Supt., II. J. Arnold, Rome.—V. 103,
Stock
plant in the city of Rockland and furnishes electric light and
in the city of Rockland, towns of Camden, Rockport, Thomaston
power
Works.
complete and well-equipped electric lighting
Power plant has generating capacity of l,75u k. w.
Has contract for power with Georgia Ry. & Power Co
8TOCK AND
CO.
ORGANIZATION.—Organized in Maine June 3 1914 as a holding com
pany to control street railway, electric lighting, gas and hydro-electrit
properties.
In addition the company will have a complete organization
prepared to furnish engineering, appraisal or management services to
owners of other public service companies
Owns 86% of the stock of the Rockland Thomaston & Camden 8treet
Ry. and the entire common stock of the Oxford Electric Go.
Owns and
operates
bonds
Savings & Trust Co.,
Cleveland, trustee, filed a petition in the Federal Court to foreclose the
1st mtge of 1914, and to appoint a receiver.
Int due April and October
1919 was not paid.
V. 110, p. 2292, 2658.
ROCKLAND, ME.
MAINE
of
$72,455.
R. I. Southern
1642.
refunding mortgage
&c.)
Sinking fund.
1
1917. for retirement
investment In new
Sub.-Co. Receivership.—In April 1920, Judge Martin J. Wade
appointed
N. Abbott and C. H. Bacon receivers for the Rock Island
Southern
Ry.
or
part at 105 aud int. on any Int. date on
1% of outstanding bonds annually, began
at
not
exceeding 105 aud int., or
properties, &c., against which no bonds may be issued
Remaining $2,150,000 are reserved for not exceeding 80% of cost or fair
value of additional property or equip., or add'ns.
exts., impts., &c. under
conservative restrictions.
V. 103, p. 61.
Dividends.—On common in 1909, 2%; 1910.
1%; 1911, 3%: 1912. 6%;
1913, 5%.
In 1914 and to ?>nd incl. July 1917, 1% quarterly; none to
July 1 1919.
In 1919, 2% was paid.
Divs. on pref. stock were begun in
Sept. 1916.
days' notice.
system.
Sale of Collateral.—The interest and
$266.00(5 coll.
Bonds.—Redeemable in whole
60
Oct.
_
.
rr
Roslyn; Treas., George
109. p. S88, 1180, 1700;
Jr.. N. Y. City; Sec. & Gen. Mgr., John G. Moran.
F
Scofieid,
V.
110. p. 970. 1188. 2292,
Cleveland.O.
V.
108,
p.
683;
V.
2658: V. Ill, p. 189. 896, 1183, 1472.
ELECTRIC
124
branch lines in St. Louis and
RUTLAND, VT.
RAILWAY. LIGHT & POWER CO.
$1,679,100 of the stock la owned by the General Gaa tc. Electric Co..
which aee In our "Rv. & Ind." 8ectlon.
ORGANIZATION.—la a consolidation In Feb. 1906 of the Rutland
Street Ry.. the People's Gas Light Co., the Vermont Internal Improvement
Co. and the Chittenden Power Co.
In Sept. 1906 acquired the entire
$180,000 stock and $120,000 bonds of the Rutland City Electric Co.
V. 83
p. 626.
In March 1908 consolidated with the latter company, thus com
Dieting consolidation of all the Rutland public utilities.
V. 86. p. 1044
Franchises have been granted by special Acts of Vermont Legislature and
RUTLAND
198
perpetual
are
P. S. Comm. autb. an increase
In fares from 5 to 6 cents for each zone.
V. 105, p. 2095.
On May 20 1920,
fares were raised to 7 cents cash and ticket fares in proportion.
V. 110,
p. 2658.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Stock $2,000,000 ($100)
$1,700,500
See text
First
mortgage
$2,000,000/ 1906
5 g M-S
1.960.000 Mch 11946
gold ($1,000)
c*[Int at Lincoln Trust Co
N Y., Trustee.
Bands.—Bonds are redeemable at 110 and int., as a whole or in amounts
of not less than $50,000. on any Int. day.
Sinking fund began March 1
1916. providing for annual payments increasing from
to 2% of bonds
Fare Increase.—In Nov. 1917 the Vermont
198
out.
.
>
Dividends.—1913,4%; 1914,3.35%; 1915,none; 1916,214%. Nonesince.
EARNINGS.—For years ending Dec. 31:
Cal. Year—
Cross.
Net, aft. Taxes. Fixed Charges.
Surplus.
1919
$509,766
$147,592
$108,278
$39,314
477,924
152,046
110,477
41,569
Latest Earnings.—For 12 months ending Aug. 31 1920. gross, (incl. other
income), $562,210; net, after taxes, $157,120; interest, $98,000; bai., surp.,
$59,120.
"
ROAD.—Owns and operates 28.3 miles of track in Rutland and West
Rutland, extending to Fair Haven and Poultney on New York State line.
Standard gauge.
60-lb. T rail.
32 passenger cars and 10 freight and
express cars.
OFFICERS.—Chairman of Board. G. Tracy
Rogers: Pres.. W. 8. Bar-
stow; V.-P. & Gen. Mgr., F. S. Nicholson; Treas., W.
Bucksbaum; Clerk &
G. H. Lawson; Asst. Treas., J. P. Campbell; Asst. Clerk,
C. N. Wilson.
Gen. Mgrs., The W. S. Barstow Mgt. Assn., Inc.—V. 110.
Asst.
Treas.,
2658; V. Ill, p. 589, 1084, 1662.
p.
ALBANS
ST
VT.
ST. ALBANS & SWAN TON TRACTION
CO*.—A
trolley road.
Ave. franchise case.
p.360.
EARNINGS.—For
12 Mos.—
calendar years:
Cross.
Net aft.
Tax. Interest.
$803
$5,230
1,253
4,030
...$35,115
30,323
Franchise
ordinance
agreed to dismiss its appeal in the Jefferson
270. A formal agreement to this effect was
p.
V. 108, p. 380, 481.
j
much delay and many amendments, an
passed by the Municipal Assembly on March 29 1918 and
Ordinance.—After
was
signed by the Mayor on April 10 1918 (for principal features of ordinance
see this Section for Sept. 1918).
On Oct. 4 1918. however, the co. notified
the city that it [the co.] did not deem it advisable to accept the measure
because of various objectionable features embodied therein.
The chier
factor against its acceptance was that a fair return on the co.'s investment
was not assured.
V. 107, p. 1482.
Compare V. 106, p. 1908.
Pending further developments, various protective committees have been
as shown below:
Preferred Stockholders' Committee.—L. H. McHenry, Chairman. Louis¬
ville, Ky.; A. J. Scharf, Secretary. U. S. Trust Bldg., Louisville, Ky.—
formed
103.
V.
_
2239.
p.
*Committee for First Gen. Mtge. 4s.—Breckinridge Jones. David R. Fren¬
Allen G
Hoyt, A. H. S. Post, F H. Ecker and H. B. ColllnR, with
ch Jr.
W. corner 4tb and Pine Sts., St. Louis, Mo.
Mississippi Valley Trust Co., 8t. Louis; Farmers* Loan &
Y.; Mercantile Tr. & Dep. Co., Baltimore; Girard Trust
Co.. Phi la.
V. 105, p. 181; V. 106, p. 1578.
K
w
♦A second committee representing holders of the 1st Gen. M. 4« has been
formed, consisting of N. A. McMillan. Pres. St. Louis Union Bank. Chair¬
man; Edward Maillnckrodt, M. Kotany. J. Herdnon Smith and Edwin G.
Merrill, all of St. Louis, Mo.
Denositarfes: St. Louis Union Trust Co.,
St. Louis, and the Union Trust Co., N. Y.; sub-depositary, Brown. Shipley
& Co.. London
V
105, p. 291, 717; V. 106, p. 1578; V. 107. p. 697.
Committee for St. Louis Transit Impt. 5s.—Edwin M. Bulkley, N. Y.,
Chairman; Edwards Wbitaker, St. Louis, Vice Chairman; F. J. Lisman,
N. Y.; Charles 8. Ludlam, N. Y.; George L. Edwards, St. Louis; W. Lorne
Scovil, 25 Broad 8t.. N. Y., Sec'y.
Depositaries: Mercantile Trust Co.,
St. Louis and Bankers Trust Co., N. Y.
V. 105, p. 181; V. 106, p. 1(578.
Bord Hardin as Secretary, N.
Depositaries:
Trust Co.
of N.
,
Deposits have been called for V. 108, p. 1611, 2434.
.
A second committee representing holders of the St. Louis Transit Impt.
been formed, consisting of Chairman, Wm. P. Gost; Le Roy W.
Baldwin, Oscar Fenley, Harrison Nesbit, J. C. Van Riper: Secy., T. Homer
Atberton, corner Broad and Chestnut Sts., Phila.
Depositaries: Empire
Trust Co., N. Y.; sub-depositaries, Fidelity Trust Co., Phila.; American
Trust Co., St. Louis, and Fidelity & Columbia Trust Co., Louisville, Ky.
Deposits have been called for.
V. 108, p 1722.
Committee fo- St. L
& Sub. Ry. Gen Mtge. 5s.—-Herman C Stirel, Chair¬
man, Pres
Stifel-Nloolaus Investment Co.: A. P. F
Mever, Sidney H.
March, N. Y.; William G. Lackey, John L. Johnston; Secy., Oscar H.
Wibbing, 207 N. Bway., St. Louis.
Depositaries: Mississippi Valley Trust
Co. of St. Louis and New York Trust Co., N. Y.
Deposits have been called
for.
V. 108, p. 1611.
Compare V. 105, p. 291.
*
These two committees in April 1919 announced that in the future they
would work together.
V. 108, p. 1611.
Valuation.—For appraisal as of Dec. 31 1917 made for city of St. Louis
bv J. E. Allison showing a total reproduction cost of $72,589,141.
See
V. 106, p. 1578.
See also V. Ill, p. 494.
In May 1916 tht Mo. P. S. Uoinw. auth. the St. Louis & Suburban Ry.
to issue $1,000,000 Gen
M. 5s of 1903 to take up and pledge under that
mortgage the $1,000.000 bond* issued by the St. Louis & Meramae Ry
Co.
for refunding its $1,000,000 1st M. 6s. which fell due May 8 1916.
The
$1,000,000 St. L. & Sub. bonds are held in the United Co's. treasury for
future use.
V. 102, p. 2255.
The $200,000 Southern Electric 6s maturing
Aug. 1 1916, were paid off and a like amount of United Rys. 4a were issued
5s has
aud placed In treasury.
Bal., Def.
$4,427
2,777
ROAD.—Operates 13 miles of track from Village of St. Albans Bay. on
Champlaln, to City of St. Albans, and to Swanton.
60 and 70-Ib.
Lake
T rail.
OFFICERS.—Pres., F. A. Persons, Greenfield, Mass.; V.-P., Fuller C
St. Albans: Sec., Elmer Johnson, St. Albans; Treas.
Walter R
Clinton, Mass.: Gen. Mgr., A. W. Peterson, St. Albans, Vt.—
V. 107. p. 2477; V. 110, p. 360.
Bralth.
Dame,
P
Decisions.—On Feb. 26 1917 the Missouri Supreme Court held that the
S. Comm. had no auth. to compel the company to extend Its tracks on
streets on
which it held uo franchises.
LOUIS,
MO.
Is controlled
by
North
American Co
of New York
Receivership.—On April 12 1919 Judge Dyer in the U. S. Dist. Court
appointed Rolla Wells receiver for the co. on petition of Samuel
Y., the co. joining in the prayer for receivership. The co.'s
Inability to repay the 6 mos. loan of $3,235,000 made to it by the War
Finance Corp. on June 1 1918 was the cause of the appointment.
V. 108.
L1611 (this has since W. Adler, and Elmer A. and Robt. J. McLaughlin
tituted by Samuel
been paid). On April 24 1919 tne receivership suits
Seaman suit by Judge Dyer in the
U. S. Dist. Court and Rolla Wells, who had been automatically removed as
receiver in the ordor making the Samuel W. Adler suit an intervening one to
the Seaman suit, was appointed receiver under the consolidated suits, and
Henry Lamm was reappointed as Special Master to conduct the hearings.
108, p. 1823, 2331.
Compare V. 106. p. 716; V. 107, p. 907; V. 108,
p. 81. 1513, V. 110, p. 2488.
r
Subsidiary Companies Receiverships.—In Oct.
1919 Rolla Wells was
appointed receiver of the Missouri Electric Ry., the Florissant Construc¬
tion,
Real Estate & Investment Co. and the Merchant's Express Co.,
subsidiaries, on application of Thomas Francis, attorney for the United
Rys. Co.
V. 109, p. 1368.
In July 1920, the receiver was authorized to issue $4,200,000 7% receiver's
certificates to provide for the payment of $1,900,000 St. Louis RR, 4%%
bonds which fell due May 1 1920 and $2,306,000 receiver's certificates due
Sept. 2 1920.
V. Ill, n. 295.
The receiver having received no satisfactory
bids for the new issue or certificates, was auth. by the court to pay out of the
co.'s general funds $2,300,000 to retire the like amount of receiver's certfs.
due Sept. 2 1920.
V. Ill, p. 991.
The int on the St. Louis RR* 43^s
due May 1 1920 was paid when due.
V. 110, p. 1974.
The principal
was also due on that date, but owing to the receiver's inability to dispose of
the new ctfs. upon satisfactory termsanoffer was made (V. Ill, p. 1371)
to the holders of the bonds to exchange same for 3-year receiver s certfs.
V. Ill, p. 1280. 1371, 1662.
bearing 7% int.
The Jan. 1 and July 1 1920 coupons on the Gen. Mtge. 4% bonds were
paid when due.
Int. due Oct. 1 1920 on the St. Louis Transit 5s of 1924
and the St. Louis Suburban 5s of 1923 was paid when due. V. Ill, p. 1662.
ORUANIZA I'lON.—incorporated In Missouri ou March 11 189» as me
Central Traction Co., but changed Its name to above on July 10 1899
On Dec. 31 1906 absorbed the St. Louis & Suburban Ry., giving Its pref
stock, share for share, for the stock of that company.
The United Rys
guarantees the $4,500,000 gen. mtge. bonds of the St
L & Sub. Ry.
See
V. 88. p
39; V 84, p. 105.
In 1908 acquired a controlling interest in the
Missouri Electric Co., successor to the St. Louis St. Charles & Western
RR., which was sold at foreclosure in July 1905.
The United Rys Co. comprises all the street car lines in operation in St
Louis.
The co. was originally leased to the St. Louis Transit Co., but under
a readjustment arranged
in Oct. 1904 by Messrs. Brown Bros. & Co,
(V. 79, p. 1333) the lease was canceled and the $17,264,300 stock of that
company nearly all exchanged for voting trustees" certificates for common
stock of the United Rys. Co. on the basis of $600 Transit stock for $200
voting trustees' certificates.
Voting trust has expired and common stock
V.
company to issue a negotiable receipt for 1 cent pending the final decision
by the Missouri Supreme Court, which was handed down on Dec. 16 1918,
and which sustained the power of the P. S. Comm. to alter street railway
fares
See V. Ill,
p.
1662.
For further details of new schedule, see V 109,
1181. 1274
Effective April 10 1920 fares were reduced from 8 cents
straight. V. 110, p. 1643, 1850.
Reorganization Outlook.—See V. 109. p. 578.
Date.
Interest.
Maturity.
STOCK AND BONDS—
Outstanding.
$24,913,800
8tock com $25,000,000 ($100)
p
to 7 cents
Stock
preferred
5%
cumul
5 Q-J
16.383.000
See text
$20,000,000 ($100)
J
30 309 000 July 1 1934
4 g J-J
1899
1st
mtge
$42,000,000
'$1,000) gold
c*tf Int at St. Louis Union Trust Co.. Trustee,
Cannot be called.
I
or at Bankers Trust Co., New York.
Gen
On June 16 1916 the
co.
paid In full the $1,839,205 judgment
obtained by the city for taxes from 1903 to 1910, with interest.
On Jan. 11
1919 the co. formally acknowledged its responsibility for the $2,500,000
mill tax which it
•ments with
contest.
owes the city which will be paid off in ten annual instailinterest, and in the future the co. agrees to pay this tax without
The city in turn will not contest the franchise of any of the
.
.
-
Improvement
bonds
gold f 1904
5 g A-O
9.790,000 Oct
] 1924
'$1,000) St Louis Transit/Int. at Mercantile Tr. Co
St Louis, Trustee
Co_.
c*tf I
or at Bankers Trust Co., New York.
Stocks and Bonds.—Of the $20,000,000 authorized
preferred *u>r.k
$3,-
603,500 is held in the treasury.
$800 common stock is also held in the
treasury.
Preferred was listed on the New York Stock Exchange on
June
1
1905.
Of
the
$45,000,000
general
first
mortgage
bonds
originally
for
the
authorized, $3,000,000, which had been previously reserved
of retiring bonds of the St. Louis & Suburban Sys¬
authorized
purpose
tem, in ca*« of purchase, have been canceled, making the total
fcwiir now f42.000.000. of which $h 768.bOO are reserved for fhe
of underlying liens.
In Aug. 1919 $1,932,000
owned by the co. were ordered canceled by
were
retirement
bonds of this issue which
the Federal Court. V. Ill,
787.
Ths bonds are secured by all the stocks of the constituent com¬
panies, and by direct mortgage hen upon their property and franchises,
lu
1903 Ui« geu
wig#
bonds were listed on the N
^
and Philadelphia
stock exchanges (see V. 76. p
980; V. 89, p. 995). and In April 1906 the
p.
impt. bonds were listed on the N Y. Stock Exchange.
bonds are guar., p. & L. by the United Rys. Co.
St. Louis Transit Co
The impt.
BOND
ISSUES
OF
CONSTITUENT
Lindell System—
Date.
LIndell Ry 1st M $1,500,000/ 1891
COMPANIES.
Outstanding.
Maturity.
4X 8 F-A $1,474,000 Aug 1 1921
-_c*&mtf 1 Interest payable In New York and St. Louis.
Comp'n HUDtMTlstMl 1893
5 g J-J
986.000 July 1 1923
($1,000) f (extend'd)c*ntfllnt. at St. Louis Un. Tr Co.. Trustee.
gold ($1,000)
*
Interest.
—
National System—
RR first mtge curf 1890
4H M-N
1,900.000 May 1 1920
$2,000,000 ($1,000)
ntf/Int. at Miss. Valley Trust Co.. St. Louis.
Cass Ave A Fair Grounds 1st f 1892
4H gJ-J
1.640.000 July 11922
extended M $2,000,000 g{Int. at Northern Trust Co.. Chicago, trustee,
($1.000) sinking fund guar)
and St. Louis Union Trust Co., St. Loais.
prin.A int (Nat Ry)__c*ntf I
St. Louis & Sub. System—
8t.Louis & Suburban cons M f 1891
5 g F-A
$2,000,000 Feb
11921
$2.000,000g ($1,000) c*ntf(Interest at Amer. Trust Co.. Boston, Tnial
tee; redeem, at 105 any interest date.
St Louis
—
*
Mill Tax Decision.—The U. S. Supreme Court on April 10 1916 dismissed
the company's appeal from the decision in the Missouri courts which upheld
the ordinance by which the city collects a tax of one mill on each passenger
fare.
V. 94, p. 418; V
95. p. 1124; V. 99, p. 1053; V J00. p. 400: V. 102,
1437.
franchise, thus validating the 6-cent fare. V. 107, p.
8-cent fare for six months.
this
plan the $20,000,000 refund, and impt mtge. bonds of the
St. Louis Transit Co., of which $8,000,000 had been Issued, were canceled,
and in their plao* the same company issued $10,000,000 of 5% improvement
bonds
guar, by the United Rys. Co. of St. Louis, this guaranty being se¬
cured by a mortgage on all of that company's
property next in rank to that
of it# general mtge.
These improvement bonds are now the only outstand
ing security of the Transit Co.
Power.—Power is purchased from the Union Electric Light & Power Co.
and the Electric Co. of Missouri (successor to the Miss. River Power Dis¬
prescribed by
2377, 2478.
The city's motion for a rehearing was overruled by the Mis¬
souri Supreme Court.
V. 108, p. 81.
The company was auth. to extend
the 6-cent fare rate, and, effective Sept. 20 1919, was auth. to charge an
has been issued for trust certificates.
tributing Co.).
States without power to regulate rates.
spite of a constitutional-consent clause in Mo. the Comm. held that it was
their duty under the law to examine the facts and fix just and reasonable
rates notwithstanding franchise terms; and as the existing rates were net
sufficient to permit adequate service, public interest and welfare demanded
an Increase of rates.
V. 106, p. 2346.
A motion by the City Council for a
rehearing In the case was overruled by the Comm. on May 27 1918.
See
V. 106, p. 2451.
In June 1918 the City Council filed an appeal from the
decision.
V. 106. p. 2759.
On Aug. 31 1918 Judge J. G. Slate in the Cole
County Circuit Court held that the Comm. was without jurisdiction to
pass upon the fare question and that the 6-cent fare was therefore null and
void.
Chief Justice Bond of the Missouri Supreme Court authorized the
In
W. Adler of N.
Under
held that municipal franchises do not con¬
stitute irrevocable contracts, leaving
at St. Louis
consolidated under the John W.
Also held void two sections of the
city charter conferring upon the city the power to regulate its public utilities.
Fare Increase.—In May 1918 was auth. by the Mo. P. S. Comm. to
Increase adult fares to 6 cents effective June 1 1918.
At the end of 1 year
the co. must show cause for making the new rate permanent.
(The co. was
auth. to extend the 6-cent fare rate, and, effective Sept. 20 1919, was
authorized to increase fares to 8 cents for a period of six months).
In
connection with this the Mo. P. S. Comm. in Feb 1919 ordered a valuation
of the co.'s property to be completed by June 1 1919.
V 108, p. 581. In
granting this increase the Comm.
ST.
UNITED RAILWAYS CO. OF ST. LOUIS.
p.
V. 108,
signed on Jan. 15 1919.
^
ORGANIZATION.—lncorp. in May 1912 In Vermont as successor to the
St. Albans Street Ry., sold at foreclosure on Apr. 27 1912
Controls entire
street-railway business in St. Albans and Swahton.
Charter permits the
carrying of baggage, express and mail; also the right to operate street rail¬
ways in Franklin and Chittenden counties, Vermont.
Stock authorized.
$200,000; outstanding, $125,000.
Fares.—On Dec. 9 1918 the City Council voted to release the co. from the
5-cent fare limit.
V. 107, p. 2477.
In Oct. 1920, we were informed that a
6-cent fare was then in force.
In Jan. 1920 the city of St. Albans modified
fcac co's. franchise relieving it from paying all paving obligations until net
earnings equal 5% of the P. U. Comm's. valuation of the property.
V. 110,
were
[Vol. 111.
RAILWAYS
co.'s
8t L & 8ub gen mtge $7,500.-/ 1903
5 g A-O
4.500,000 April 1 1923
OOO gold ($1 .OOO) guar
Int., at Miss. Val. Tr. Co
St
Louis. Trustee
Of the St. Louis A Suburban Ry. general mortgage for $7,500,000,
$2,000,000
are
reserved to retire prior liens.
V.
76,
p.
332.
The
St.
Louis & Meramae River in April 1903 made a mortgage securing $3,000,000
bonds, all
at which hare been deposited with the trustees
as
additional
Oct.. 192 >.]
under
seeority
Louis
St.
RR.
the
ELECTRIC
St.
Louis
Suburban
&
bonds originally were
5%
general
mortgage of
maturing May 1
bonds,
RAlLWvYS
(1)
1903.
1910,
bat they were extended for 10 years to May 1 1920 at 4^ %. V. 90, p. 448.
The St. Louis & Suburban RR. consol. mortgage bonds are secured by
deposit of $1,000,000 St. Louis Cable & Western Ry. bonds.
The
Ry. 1st mtge. were originally 5% bonds maturing Aug. 1 1911;
were extended
10 years to Aug. 1 1921 at 4H%V. 93, p. 106.
Cass Ave. & Fair Grounds 1st M. were originally 5s maturing July
1
1912, but they were extended for 10 years at 4H%.
$330,000 have
been redeemed
V
94. p 913, 1509. 1764.
Cotnp u Heights Co Dep &
Mer. Term
1st M. were originally 6s, due July 1 1913, but were extended
10 years at.5%
V 96, p. 1774.
Red at 102 4 and Int on 60 days'notice:
p. & 1. guar, by United Rys.
St. Louis Union Co.. trustee.
Dividends.—First div., of 14% on prof., April 10 1900 and the sarm
amwant quar. to July 10 1910. incl.; none since
v
91 p 718: V 93, p 591
ROAD.—On Dec 31 1919 owned total of 461.57 miles of track (Including
the St. Louis & Suburban), of which 345.98 m. are In the city and 115 59
miles are county track.
Utah
the
owns
EQUIPMENT.—Has 1,460 passenger cars, 9 special cars, 10 mall and 7
8 snowplows and 33 snow-sweepers, 2 electric locomotives and
103 service
cars
V. Ill,
p.
$2,023,875
$3,071,504
116,698
94,702
82,589
First
Date.
Interest.
1914
BONDS—
5 sir A-0
on
bonds, &c
$2,395,483
2,661,263
$3,166,206
2,523,230
$2,140,573
2,546,872
$3,432,119
2,544,614
Light Co.
Power &
100.
V.
p.
Outstanding.
Maturity.
$1 150 875
12.471 300 Oct 1
1944
$10.000.000
stock
&
ref M
'auth
amt
andjlnt.
($1,000, $500
Rv
con
Bankers Trust Co., Nev
at 71 Bway.
York. Trustee.
f.c*
s
M
un-f
5
1904
$10,-
000.000 gold ($1.000).__C*
Int.
71
at
J-J
a
486 noo
Bway., N. Y,
Jan
2
1934
Equitable Trust
Co., N. YTrustee.
Lt
Utah
P
&
Prior Lien
1900
5
I-J
*
746 000
Jan
1
1930
Central Union Trust Co.,
$750,000 g ($1.000)—C*tf Int. at 71 Bway.
N.Y., Trustee.
Utah
Lt
&
Power
con
M
1900
4 g J-J
1.113.000 Jan 1
1930
$4,500,000 g ($500)—c*tf Int. at 71
Bway.
Equitable Trust Co..
1ST
Cons Ry &
000
Total net income
18
directors' shares, and has leased
property to be directly operated.
Latce City expires in 1955
$3,349,530
106,442
Sept.
Utah.
traction
$100)red at 105&lnt g
$2,289,041
earnings..
of
laws
The Utah
Section").
Ry
company except
passengers
Other income...
Interest
the
STOCK AND
Capital
Utah L&
1916.
the
$12,136,000 1st & Ref. M. bonds outstanding are owned by the Oregon
Short Line RR., and $335,300 held by Utah Power & Light Co.
Valuation —In Feb. 1920 the Utah P. U. Comm. placed a value of $8,468.278 on the co.'s property
V. 110, p. 765.
Fare Increase.—In July 1920 the Utah P. S. Comm. auth. the co. to
increase cash fares from 6 cents to 7 cents and commutation tickets to 4 for
25 cents.
V. Ill, p. 494.
Fare Decision.—V. Ill, p. 589.
limited)
1917.
under
I 1915 the electric llghtiand power and gas properties,
Franchise In Salt
734.
787.
1918.
carried._263,221,899 245.876,910 262,564,865 253,046,586
145,788,430 131,108,817 140,735,831 136,065,566
Gross earnings
$16,592,680 $13,639,618 $13,125,559 $12,641,294
Deduct—Oper. expenses.$11,533,460
$9,126,513
$7,625,827
$6,953,125
Depreciation.
1,659,268
1,636,754
1,575.067
1,516,955
Taxes
1,110,911
852,476
853.161
821,684
Net
1914 ' Electric
all the stock of this
leaving only
Revenue pass,
Transfer
Sent.
for 99 years from Jan
Total, 1.651
of various kinds.
REPORT.—For report for 1919, see
1919.
Co.
—incorporated
The company Is a consolidation of the Utah Light & Railway Co.,
and the Salt Lake Light & Trac. Co. (see those companies on page 116 of
Lindell
express cars,
Traction
&
ORGANIZATION
1914.
a
but
Light
125
gold
Bonds
—
Trustee
Y
".5
P 1st M $3,000,-] 1901
g J-J
'
1,401.000 July 1 1921
($1.000) ».c«&rtf lint. at Equitable Tr. Co., N. Y.. Trustee.
Sufficient 1st & ref
bonds of 1011 are reserved to provide for
(all closed Issues).
$335,300 Incl. in amt. outstanding
Present Issue known as Serins "A" bonds.
Sinking fund of 1% of outstanding bonds from 1917 to 1919; 2% 1920 to
1934. 2^% 1935 to 1943.
Sinking fund may be used to redeem bonds at
not more than 105 or to reimburse the co. for cash cost of additional prop¬
underlying liens
.
owned by Utah Power & Lt. Co.
def$265,780 def$400,299
$642,976
$887,505
OFFICERS —Gen. Mgr., Albert T. Perkines; V.-P., Murray Carleton;
See. & Treas., James Adkins; Asst. Treas., Frank A. Gannon; Aud., Joseph
D. Evans.
Directors: J. I. Beggs, Murray Carleton, H. S. Priest, R. L.
Warner, A. C. Brown, A. L. Shapleigh, F. O. Watts, A. J. Siegel, H. O.
Cole and J. K. Newman.—V. 109, p. 578, 889, 982. 1181, 1274, 1368, 2441;
V. 119, p. 563, 1643, 1850, 1974, 2488; V. Ill, p. 295, 494, 787, 991, 1184,
1280, 1371, 1662.
Surplus
Miasouri
LOUIS
&
BRIDGE
ST. CHARLES
Col
ORGANIZATION.—Incorporated on Dec. 22 1908 as successor to the
St. Charles & St. Louis County Bridge Co., whose property was bid in at
foreclosure sale on Feb. 29 1908, for the bondholders, at $300,000.
V. 86.
p. 669.
The Missouri Electric pays the Bridge Co. 5 Cts. for each passenger
crossing the bridge
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
1st mortgage $300,000 ($500)
J 1909
300,000 Jan
5 g J-J
LAKE
vice
consol
CITY, UTAH.
In-dudlnv
/"»»•«
Deprec.,&c
$382,988
Balance
Surnius.
$963,162
$29,355
364.437
865.412
def.41,868
operates 146 miles of track.
sidings, &c., connecting Salt Lake City. Sandy,
company
131
Int. Chges.,
Inmme.
Tares.
$609,529
459.107
owns
and
Bountiful
doublM-truck
P-4
Has 237
V-P,
passeneer
and
ser¬
^ars
OFFICERS.—Chairman of the Board & Pres., E.
O. Howard; V.-Ps.,
O. J. Salisbury, D. F. McGee, O. E. Groesbeck and S. R. Inch; Sec. &
Treas., W. E. Blodgett.—V. 105, p. 820; V. 103, p. 398; V. 107, p. 698,
1102; V. 110, p. 765; V. Ill, p. 494, 589.
BAMBERGER ELECTRIC RAILROAD.
ORGANIZATION.—Incorporated In Utah as the Salt Lake & Ogden
Ry.
Name changed to present title In Sept. 1917.
On May 28 1910
began operating cars by electricity; prior to that date road was operated
by steam.
Shortest or franchises expires In 1955.
Practically entire mile¬
age Is on private right of way.
Salt Lake Terminal <!<>, —Owus 50% of the stock of the Salt Lake Terminal
Co. and with the Salt Lake & Utah RR
which owns the other 50% of
.
stock, operates the property under a 50-year
Jointly and severally
11929
gold..
c*_ [American Trust Co.. trustee.
Bonds.—Subject to call at 105.
PROPERTY.—Bridge across Missouri River 2,700 ft. long, betweeD
City of St. Charles and St. Louis County, was opened April 22 1904.
OFFICERS.—Pres., C. D. Bolin; Sec. & Treas., W. V. Delahunt.
—V. 86, p. 669; V. 87, p. 227; V. 88, p. 56.
SALT
1918
Other
Net, after
Earnings.
$1,855,281
1,602.000
1919
&
$300,000
Stock $300,000 ($100)
Year—
Including double track,
Mldvale, Murray. Holliday and
In Missouri and took
over property of St. Louis St. Charles & Western RR., sold at foreclosure
•ale July 24 1905, on behalf of a syndicate.
Stock. $1,000,000, all out
standing. A $ 1,000,000 mtge. has been made to Mercantile Trust Co. of St
Louis, as trustee, of which $700,000 are outstanding.
Company operate*
about 20 miles of track between St. Louis and St. Charles.
Gauge 4 ft
10 in.
60 and 70-lh
T and girder rail.
Pres., Richard McCuiloch.—V
87, D. 226, 480, 1366.
ST.
&c.
EARNINGS. Gross
Cal
ROAD.—The
Electric RR.
Controlled by United Rvs Co. of St. Louis.
Receivership.—See United Railways Co. above.
ORGANIZATluN.—Hicorporateu In July 1908
(1)
erties,
Utah
RR
its 1st M. bonds
101, p. 1371.
guar,
and In V
STOCK AND
BONDS—
Date.
lease.
p.
Interest.
Common $1.000.000
Pref $500,000 (6% non-cum).
First
$2,000,000
mtge
($1.000)
& I.
These two companies
8ee under Salt Lake
Outstanding.
Maturity.
$1,000,000
500.000
gold] 1909
5 g F-A
1.500.000 Feb 1 1934
c*ilnt. at Harris Tr. & Sav. Bk., Chic.. Trustee.
Bonds.—First mtge. bonds are subj. to call at 105 aud Int. on and after
Feb. 1 1914.
Remaining bonds can be Issued under certain restrictions
for px^"n«1on,a and addition0
EARNINGS.—For year ending Dec. 31 1919, gross, $664,241; net. after
In 1918, gross, $499,625; net, after taxes, $166,062.
In
1917, gross, $509,796; net, after taxes, $220,871.
tiUAU —Operates a idgh-speed luteruroau railway, 35J>4 miles, between
Salt Lake City and Ogden; total trackage. 69 miles.
18 motor cars, 2
electric locomotives and 1 work car.
New terminal In Ogden for use of this
taxes. $218,654
UTAH POWER & LIGHT CO.
Controlled through ownership of all the outstanding common and 2d pref
stocks, except directors' shares, by the Utah Securities Corporation, whlcb
see la our "Railway and Industrial'' Section.
ORGANIZATION.—Incorp. in Maine Sept. 6 1912. Charter unlimited
Owns all the bonds and capital stock, except directors' shares of Western
Colo Power Co. and all the stock, except directors' shares, of Utah
Lt. &
Trac. Co.. Leases for 99 years from Jan. 1 1915 the elec. light and power and
properties of the latter.
With its controlled companies operates in an
territory in Utah, Southeastern Idaho and Southwestern Colo
rado, serving more than 125 communities, including Salt Lake City. Ogden
Prove, Logan. Park City, American Fork, Eureka, Bingham and Lehi
Utah; Idaho Falls, Rexburg, Preston and Montpelier, Idaho, and Durango,
Tellurlde, Montrose, Ouray and Delta, Colorado; total population served
estimated at more than 310,000.
Supplies power to the Bamberger Elec¬
and the Ogden Logan &
company
Poweris purchased
Idaho RR
Power A
from the Utah
was completed Jan.
1
1915.
Light Co.
OFFICERS.—Pres., Julian M. Bamberger; V.-P., J. B. Bean; Sec.,
E. A. Vail: Treas., Simon Bamberger; Aud., W. E. Jones.—V. 102, p. 2167.
gas
extensive
tric
RR.
Salt
Central RR., and
RR. Co., and numerous Industrial en¬
Co., Salt Lake & Utah RR., the Utah-Idaho
Lake,
Garfield &
Western
terprises.
»
franchises
are
satisfactory.
In
Salt Lake City franchise extends
to
1955; in Ogden to 1965; Provo, 1940; Logan. 1936; Bingham, 1953: Lelu,
and in Preston, 1956.
Other less important franchises expire at
1962,
various
dates.
stock was increased from $30,000,000 to $35,000,000, and of 1st pref. stock from $5,000,000 to $15,000.V. 103, p. 1597.
STOCK AND BONDS—
Common stock ($35,000,000).
Date.
Interest.
—----
Outstanding.
$30,000,000
Maturity
RR.
as
a
RR~
17 1914 as the Ogden Logan
consolidation of the Ogden
BONDS—
Date.
Interest.
Outstanding.
Maturity.
$3,000,000
pref. cum
See text
3,000,000
Ogden Rap Tr 1st M (gold)/ 1909
5 g J-J
965.000 Jan 1 1929
(V 88. p 1062; V 99. p675).Tint, at Ogden Sav. Bank, Trustee.
First mtge $10,000,000 gold] 1915
6 g J-J2
3.000.000 Jan 2 1935
($500 and $1,0001
.e*tf\Int at Ogden Savings Bank Trustee.
1st conv. impt. notes $2,000,-1 1916
6 J-J
1.733,000
Jan.
2 1921
STOCK AND
pref. stock had been exchanged for first pref. stock as of Jan. 6 1919.
Bonds.—$656,000 1st M. 5s are pledged as security for the 1st lien & gen.
M. 7s. Remaining bonds may be issued at par only for 80% of cost of perma¬
nent impts., extensions or add'ns when ann. net earnings are twice the int.
on bonds outstanding and those proposed to
be issued.
Redeemable at
105 and int. on any int. date on 4 weeks' notice.
Sinking fund began
Dec. 31 1916 as follows: 1916 to 1918, 1% of bonds out; 1919 to 1933. 2%;
1934 to 1943, 2H %.
Listed on N. Y. Stock Exchange.
V. 109, p. 688.
The 1st lien & gen. M. 7s are secured by a pledge of $656,000 1st M. 5s.
Are red. on 4 week's notice, in blocks of $250,000, at 102 and int. to and incl
May 1 1922; at 101 and int. thereafter to and incl. May
and int. thereafter. V. 110, p. 1850.
Dividends—7% Is being paid on 1st pref. stock.
1 1924, and at 10043
(incl. Western Colo. Power Co.):
Bond Int. Other Int.
Balance.
& Disci.
{Net).
Surplus
1919
$5,655,960 $2,786,415 $112,612 $1,178,300 $490,520 $1,230,207
1918
5,574,805
2,952,276 136,447
1,034,381
675,644
1,378,698
Latest Earnings.—See V. Ill, p. 590PROPERTY, &c.—Generating capacity, hydro-electric, 123.237 k.w.;
steam, 17,500 k.w.; additional Installations of 26,500 k.w
capacity under
construction.
Physical property includes 2,187 miles of high-voltage trans¬
mission tower and pole lines and 1,519 miles of electric distributing lines,
EARNINGS.—For years ending Dec. 31
Gross
Net (after
Other
Earnings.
Taxes).
Inc.
Dec. 31
Year—
?as-holder capacity, output, 12 inos. end. Dec. 31 1919, 461,531,633; arti¬
Customers,
1,850 k.w.h. feeder 240,000 cu. ft.; gas mains, 39 miles.
gas output,
75.285.000 cu. ft.
OFFICERS.—Chairman of the Board, S. Z. Mitchell; Pres., L. HanV.-P., C. E. Groesbeck; V.-P. & Gen. Mgr., S. R. Inch; Sec. &
ficial
chett;
Treas., Geo. B. Thomas —V. 107, p. 2104, 2189;
p. 79. 1416. 1850. 2200. 2291; V. Ill, p. 196, 390,
...
1st
.
------- - -
($15,000,000)—
7 Q-J
8.450.000 Oct '20.If*
2d pref stock ($10,000.000)
4,937,000
lit
M
($100,000,000) goldf 1914
5 g F-A
24.347.000 Feb 11944
($1 000)
c*&r(Guaranty Trust Co., N Y
trustee.
First ilen & gen mtge ($1,000 \ 1920
7 g M-N
656,000 May 1 1925
gold
c*/Guaranty Trust Co., New York, Trustee.
Stock.—7% cumulative preferred stock is redeeinaole at 115 aud accrued
dividends.
The second preferred stock as a whole or in part may cease
to be subordinate to the preferred stock upon vote of the directors, when¬
ever
net earnings
for twelve consecutive months within the fourteen
months immediately preceding any application are 2H times the div. re¬
quirements on the Dref. stock then outstanding, and the additional pref.
stock to be issued in exchange for the 2d pref. stock.
$2,900,000 of the 2d
Prefstock 7% cum
CENTRAL
Rapid Transit Co. and the
Logan Rapid Transit Co. with $5,000,000 auth. stock.
Of the new stock
2\4 shares were exchanged fcfr one share of the Ogden Rapid Transit Co.
($500,000 auth.) and 1 M shares for each 10 shares of the Logan Rapid
Transit stock.
Name changed to present title on Jan. 1 1918.
On April
8 1919 this co. and the Cache Valley RR. were consolidated.
Compare
V. 108, p. 975.
A terminal in Ogden for the use of this company and the Salt Lake &
Ogden Ry. was completed Jan. 1 1915.
Idaho
Common stock
Favorable Rate Decision.—See V. Ill, p. 1662.
In Oct. 1916 the auth. amount of common
000.
UTAH-IDAHO
ORGANIZATION.—Incorp. In Utah Oct
&
V. 109, p. 688; V. 110,
590, 1662.
]
000
Stock.—The
1st prof, stock is cum. at 6% and is entitled after 6% has
the common and before any additional payment can be made
on the com., to an extra 2%.
Bo/ids. —Remaining 1st M
bonds may be issued at such rate (not exceed¬
been
ing
paid
6%)
on
as
the directors may determine, as follows:
$750,000 for corporate
purposes of the company and remaining $6,250,000 for 75% of the cost
of exts., add'ns. &c., under certain restrictions.
Subject to call at 102 and
Int. after Jan. 2 1916 on 60 days' notice.
Sinking fund of 1 M % yearly from
1920 to
1924.
2% from
1925 to 1920 and 2Y,% from 1930 to 1934
EARNINGS.—For year ending Dec* 31 1919, gross, $1,121,616; net,
after taxes. $336,818: int. & other deductions, $325,196: bal. surp., $11,622.
In 1918. gross, $1,038,866; net, $384^507; int. Sc other deductions, $458,-
bal., def. $73,944.
ROAD.—Oper
94 70 miles of railway connecting Huntsville. Ogden,
Brfgham City. Wellsville and Logan, Utah, and Preston, Idaho.
The
extension from Wellsville, Utah, via Logan to Preston. Idaho
was placed
In operation In March 1915. and the link between Wellsville and Brigham
City was completed and operation over the whole system begun Oct. 14
1915.
Contracts have been awarded. It Is stated, for extensions from
Ogden to Harrlsvllle, Utah, and from Hot Springs to Brigham City, Utah,
22 miles.
Power is purchased from the Utah Power & Lt. Co.
OFFICERS —Pros
M
S
Browning; 1st V.-P
L. R
Eccles; 2d V.-P.
451;
.
Joseph
Scowcroft: Treas., R. B
Porter; Sec.. Royal Eccles: Gen. Mgr.,
106, p. 191; V. 108. p.1975-
W. A. Whitney: Aud., P. H. Mulcahy.—V.
SALT LAKE &
TAH RAILROAD.
ORGANIZATION.—Incorp. in Maine in 1912.
Road was formally
opened between Salt Lake City and Provo Aug. 1 1914, although trains
were placed
in operation July 24 1914.
Line was extended from Provo
to 8pringville in the fall of 1915 and on to Spanish Fork and Payson in
Jan. and May 1916.
Branch from Granger to Magna, a distance of about
9 miles, was completed Oct. 10 1917.
Franchises extend to 1960 in Utah
County and in Provo, to 1902 in Salt Lake City and County, to 2010 in
Lehi City, American Fork and Pleasant Grove, and to 2012 in Springvilie,
Spanish Fork and Payson; remainder on private right-of-way.
Owns 50% of the $1.50.000 stock (auth
$t .000.000) of the Salt Lake
Terminal Co. (V. 101. p. 1371), the other 50% being owned by the Bam¬
berger Electric RR.
The Terminal Co. is operated by these two companies
under a 50-year lease runn ng to Dec. 31 1963.
In Dec. 1918 Issued $562,500 1st mtge. notes to fund indebtedness in¬
....
curred for permanent
extensions and impts.
V. 107, p. 2188, 2478.
126
ELECTRIC
STOCK AND BONDS—
Date.
Interest.
Com. stock $3,000.000 (1100)
Pref 7% cum $2,000,000 ($100)
'
Outstanding.
$3,000.000
1.980.000
Maturity
mtge
$10,000,000
gold/ 1914
6 g A-O
1,250.000 April 1 1944
($1,000, $500 & $100).c*tf] Int. at First Nat., Bank N. Y., or Cont. &
Redeemable at 102 & Int_. 1
Com. Tr. & 8av. Bank, Chicago, Trustee.
Salt Lake Term Co
1st Mf 1915
6 g J-D
350.000 June 1 1935
$1,000,000
gold
($1,000]Int. at Bankers' Trust Co., N. Y., or Inter$500
&
$100
c*tfI
national Tr. Co..
Denver, Trustee
1st mtge. notes $1,000,0001 1918
7 F-A
562,500 Aug. 1 1921
($100. $500 & $1,000).c.tf/Northern Trust Co., Chicago. Trustee.
certificates! 1920
7 M-N
133,000
See text
c*tff/Int. at Northern Trust Co., Chic., Trustee
bonds
may
be
Issued oniy
under
certain
re
The $1,250,000 bonds outstanding bear
6% interest; remainder
will bear such rates not exceeding 6% as may be f ixed at time of Issue. Sink¬
ing fund of 1 % of bonds out 1919 to 1923. 1H % 1924 to 1933 and 2% 1934
to 1943.
All bonds may be called at 102 <x Int. and
replaced by a like
bearing a lower rate.
V. 100, p. 230.
The Salt Lake Term boDds
unconditionally guar., p. & I., Jointly and severally by the Salt Lake &
Utah RR. and Salt Lake <fc Ogden Ry. (now Bamberger Electric
RR.).
Callable on any Int. date on 35 days' notice at 102 and int.
Sinking fund
1% of bonds Issued from 1920 to 1924; ltf% In 1925-29, and 2% in 1930-34.
are
due in 12 annual installments beginning Jan. 1 1916 and
$131,000 have been retired.
No. of bonds which
33. 37, 39 and in 1927, 46.
Dividends
successively thereafter, 30, 32,
V. 99, p. 1831, 1672, 1596.
50 cents monthly, but in Aug. 1902 were increased to 75
cents monthly, and in Nov.
1904 to 90 cents monthly.
On account of
earthquake and fire, no dividends were paid from April 1906 to Sept. 1908,
when dividends were resumed at 50 cents
per share up to May 1909, when
60c. per share was paid: same rate monthly since.
were
EARNINGS.—For
Year—
ending Dec. 31;
Oth.Inc.
Deductions.
$143,407
$45,920
121,980 Dr. 10,767
45,540
175,408 Dr.21,100
25,000
years
Gross.
1919
Net. aft. Taxes.
.$533,311
455,219
1918
1917
1
Survlus.
$97,487
87.207
129,308
——
-
460.067
ROAD.—Operates 11
amount
are
bonds
new
ending Jan. 1 1927.
matured in 1920, 29, the remainder mature
Bonds.—Remaining
strictions.
[Vol. Ill
Bonds.—$384,000 bonds were issued to retire $900,000 bonds due Jan. 1
1915 (of which $516,000 were in treasury, leaving $384,000 to be refunded).
The
1st
Equipment trust
($500 & $1,000)
RAILWAYS
miles
of track
5H miles of afreet.
on
OFFICERS.—Pres., J. Henry Meyer; V.-P., A. H. Payson; 2d V.-P.,
Jas.
W.
Harris; Sec., Geo. A. Hare; Treas., J. H. Meyer & Co.; Aud.,
Chas. P. Stone; Supt., J. W. Harris.
Office, 1061 Hyde St., San Francisco,
Cal.—V. 99, p. 1831.
Additional bonds may be issued for 80% of cost of
new property or for exts.
impts.
For description of bonds and Property, see V. 101. p. 1371.
equip, trust certifs. are secured on 60 cars which cost approximately
$167,000.
They mature semi-annually to 1930.
V. 110, p. 2388.
Notes.—Are secured by a deposit of $750,000 1st M. 6% oonds or In the
ratio of 133 1-3%.
Additional notes may be issued when secured by 1st
mtge. bonds in a like ratio, but only under certain restrictions.
Red. at
at 101 and int. to Aug. 1 1920, and thereafter to
maturity at 100 and Int.
Interest is payable in Salt Lake City, Chicago or New York.
/
and
COAST
The
Calendar Year—
1919.
Gross revenue,.
1918.
1917.
1916.
and taxes
$708,026
465,598
$.546,020
374,403
$487,925/
316,772
$411,638
260,577
Net avail, for int.&di vs.
$242,428
$171,616
$171,152
$151,060
Oper.
expenses
-
ROAD.—Operates from Salt Lake City south to Payson, about 67 miles,
and a branch line from Granger to Magna (about 9 miles); also about 1 mile
of single track of the Salt Lake Terminal Co. tracks in Salt Lake
City and
about 2 miles of single track street railway in Provo.
75 and 85-lb. rail,
standard gauge.
15 interurban pass, cars, 4 street railway cars, 1 combi¬
nation gas motor car, 3 electric locomotives, 3
express and 37 freight cars
and 31 service cars.
Power is purchased under long-time contract from
Utah Power & Light Co.
OFFICERS.—Pres., W. C. Orem; V.-P., J. G. Berryhill; V.-P., Henry
F. M. Orem; Aud.. Joe R. Brown.-—V. 102, p.
438, 801, 2167; V. 107, p. 1102, 2188, 2478; V. 110, p. 2388.
I. Moore; Sec. & Treas.,
SAN
SAN
ANTONIO
ANTONIO* TEX.
PUBLIC
Entire stock owned by
SERVICE CO.
the American Light & Traction Co.
ORGANIZATION.—Incorp. in Texas Sept.
6 1917 to take over and
operate the properties of the San Antonio Gas & Electric Co. and the 8an
Antonio Traction Co., both formerly controlled by the Southern Light &
Traction Co., whose affairs were wound up.
The new
construct a system
company is auth. to
of interurban electric railways out of San Antonio, and
85
it it reported will build a line between San Antonio and
Austin, about
miles.
Fares.—On Oct. 3 1918 the San Antonio City Commissioners denied the
company permission to charge either a 6-cent fare (with the existing transfer
or a 5-cent fare with no transfers.
V. 107, p. 1482.
Compare V. 107, p.
1102.
The company applied to the U.S. District Court at San Antonio for
authority to charge a
7-cent fare and
in the U. S. District Court in San
on
Feb. 18 1919 Judge Duval West
Antonio, handed down
decision holding
that the franchise ordinance under which the company
operates does not
constitute a binding contract in so far as the 5-cent fare
provision is con¬
cerned.
V. 108, p. 880.
Federal Judge Duval West has granted an in¬
junction restraining
effect
the city
increased fares.
from
a
interfering with the
putting into
the co. is em-
co.
Under the terms of the injunction
Eowered to abolish transfers or raise finally adopted a straight 7-centtofare
oth.
fares not to exceed 7 cents, or
do
After
trials the
numerous
co.
with universal transfers.
raised from 7 to 8 cents,
Ill,
p.
V. 110, p. 659.
On Aug. 16 1920 fares were
metal tokens being sold at 4 for 30 cents.
V.
897.
STOCK AND BONDS—
Dale.
Interest.
Stock, $4,700,000 ($100)
Outstanding.
Maturity
$4,700,000
-
1st & consul.
mortgage ($20,/ 1917
5 g M-S
2,825,000 Sept
000.000 gold ($1,000)
/Bankers Trust Co., N. Y., Trustee.
San Antonio Trac $984,000/ 1908
5 M-S
984,000 Sept
1st mortgage gold
(New York Trust Co., trustee.
San
I
Antonio
Gas
&
Electric/
1908
5 M-8
984,000 Sept
$984,0001stMg($500)c*tf [Interest at New York Trust Co.,
1
1967
1
1949
1 1949
trustee.
Of the 1st & consol. mtge. bonds $1,968,000 are reserved to retire under¬
lying bonds.
They are callable on any interest date at 105.
Bonds.—Both the San Antonio Trac. bonds and the San Antonio Gas &
Elec. bonds were issued to retire
underlying bonds.
V. 88, p. 687, Gas &
Elec. bonds are redeem, at 105 & int. on 6 weeks' notice. (SeeV.
101, p. 851.)
ROAD.—Owns and operates 88 m. of single track in city of San Antonio
OFFICERS.—Pres., Emerson McMillin; V.-P.. Philip Lehman; 8ec
& Treas., R. C. Jones.—V. 109, p. 2357; V. 110,
p. 659,1850; V. Ill, p. 897.
VALLEYS GAS &
STOCK AND BONDS—
Date.
Common $3,000,000 ($100)-.Pref $2,000,000
($100)
SAN
DIEGO, CAL.
Interest.
Outstanding.
$3,000,000
-
Maturity,
-«
7%\
2.000.000
from July 1 *12; red
110/
First
M
$10,000,000
gold/ 1912
6 g M-S
997,000 Mar 1 1952
($1,000) ann sk fd of 1%]Interest at Mercantile Trust Co.. San Fran.,
of bonds out beg Mar'18 c» I
Trustee, or U. S. Mtge. & Tr. Co
N. Y.
cum
,
Bonds.—Bonds are redeemable, all or any, on
any int. date at 105 and int.
$28,000 (not incl. in amt. outstanding) are held in s. f. V. 94,
p. 1249.
EARNINGS—
Gross
Net (after
Other
Bond
Balance,
Years ending—
Earnings
Taxes).
Income.
Int.. &c.
Surplus.
June 30 1920...$528,130
$145,562
$3,723
$64,926
$84,359
June 30 1919.— 367,170
101,518
27,309
59,681
69,146
June 30 1918— 326,190
111,062
1,334
58,546
53,850
Property, <xc.—Does electric and gas business, Monterey, Pacific Grove
and Salinas, also owns water system of Salinas and
King City, and electric
distribution lines in Salinas Valley.
Owns electric generating plants at
Monterey, Salinas and King City.
Purchases most of the electric energy
which it distributes from Pacific Gas & Electric Co.
OFFICERS.—Pres., M. B. Starring; V.-P., Warren Gregory;
Asst. Treas., W. J. Urquhart; Treas. & Asst.
Sec., P. S. George.
UNITED
&
Sec.,
j
RAILWAYS INVESTMENT CO.
ORGANIZATION.—Incorporated
in New Jersey
Feb. 17 1902.
In
Sept. 1906 filed an amendment to its charter changing its name from United
Railways Inv. Co. of San Francisco to its present title.
V. 83,
p. 689.
or indirectly through stock ownershfp ail the
outstanding
pref. stock and $165,900 of the 7% prior preference stock of
Ry. & Power Co.
Also owns the stock of The Raiir ads &
Power Development Co.
V. 89, p. 287, 529. 848.
Owns
directly
and
common
the California
On May 6 1910 shareholders
approved a plan (V. 90, p. 1103) to increase
stock from $25,000,000 to $31,000,000 and to issue
$6,000,000 6%
bonds, convertible into common stock at par, and also authorized directors
common
utilize
to
a
portion of unissued pref. stock
to
adjust
arrears
of dividends
accrued or to accrue on outstanding pref. up to and
Including Oct.
V. 90. p. 1103, 1240, 1297.
1
1911.
Acquisition of Philadelphia Company.—In Feu. igofi acquired $21,000,000
of the common stock of the
Philadelphia Co, of Pittsburgh, giving $37 50
In new collateral trust bonds and $20 in common stock of
the Invest¬
ment Co. for each $50 share of the
Philadelphia Co.
See V. 82. p. 393,
988.
For statement made in listing these bonds on the
Philadelphia Stock
Exchange, see V. 83. p. 1235.
Now owns $24,555;000 Phlla. Co. com. stk.
Against the $1,000,000 4-year notes shown in the table below, the com¬
pany
holds $1,000,000 "notes receivable—United RRs. of San Fran¬
cisco."
The company has started a reserve account and
put aside
$1,774,125 to apply toward the reduction of the loss sustained through the
United RRs.
See that company beiow.
/
STOCK AND BONDS—
Date.
Common $31,000,000 ($100)-.
Pref 5% cum from Apr 1 19021
Interest.
/
—
$25,000,000 ($100)
Outstanding. LastDiv.Ac.
$20,400,000
16,000,000 Jan '07, 2^
—
—
/
In
Pref stock div certificates
1st lien collateral trust
See text
mtge/
SAN DIEGO ELECTRIC RY.—A trolley road.
ORGANIZATION. &c.—Began operation in 1892, and in March 1898
ELECTRIC CO.
ORGANIZATION.—Incorporated on March 20' 1912 in California.
Acquired the properties of the Monterey Gas & Electric Co., the Monterey
County Gas & Electric Co., the Salinas Valley Water Co. and the King
City Water, Light <& Power Co., and owns aii stock of the Monterey
& Pacific Grove RR.
Does entire electric and gas business in Mon¬
terey. Salinas and Pacific Grove; also owns water system of Salinas and
electric distributing lines in Salinas
Valley and elec. & water system at King
City.
Also owns $72,000 Monterey & Pacific Grove RR. 1st 6s. there being
$300,000 auth., of which $18,000 are in sinking fund and' $12,000 in
treasury. Jan. I 1915 and subsequent coupons on Monterey & Pacific Grove
bonds ($198,000 in hands of
public) are in default.
V. 100, p. 229.
A pro¬
tective committee, with Carter
Pomeroy as Chairman, has been appointed.
V. 100, p. 398.
1906
scrip
1,462,500
5 g M-N
15.053,000 May 1 1926
$20,250,000 gold ($1,000)/Int. at Guar. Trust & Sale Dep. Co., Phila.,
sinking fund
c*l
or N. Y. Trust Co.. N.
Y.t Trustee.
Conv bonds $6,000,000
gold/ 1910
6 F-A
790.000 June 1 1930
($1,000)
Central
I
Trust
Co..
N
Y
trustee.
Eurchased business to
In 1905 sold its Co.
■lc power Citizens' Traction Co. at foreclosure sale.
company—the United Light, Fuel & Powerelec-
Four-year gold notes
V. 811, p. 559. In 1908 purchased the electric line of the Coronado RR.
In
1909 acquired the South Park & East Side Ry.
Stock was increased Nov
1907 from $500,000 to $5,000,000,
Fares.—In Dec. 1919 was auth. by the Cal. RR. Comm. to
Bonds.—The coll. trust bonds are secured by
deposit of all aeouired com¬
mon stock of the Phila. Co.
except 7,100 shares.
They are subj. to call on
a new
put into effect
system.
For details see V. 109, p. 2172.
In Dec. 1919 the application of the co. for auth. to abandon the
Point
Loma Ry., a line to the suburbs, and a number of other
city lines, owing to
a zone
the failure of the authorities to afford the
tions,
was denied.
V. 109, p. 2172.
STOCK AND BONDS—
Stock $5,000,000
Gen 1st lien M $10,000,000
gold s f ($1,000)
c»&r
Date.
1915
Int. at
co. some
relief from existing condi¬
Compare V. 109,
p.
1462.
Interest.
5 g J-J
Union
Outstanding.
Maturity.
$1,250,000
3.724,000 Jan
11955
Trust Co., San Francisco.
Red. at 102 aft. Jan 1 1920
trustee, or Nat. Bank of Commerce. N. Y.
Bonds.—First $5,000,000 bonds bear Interest at
5%; rate of interest on
1917
5%
1,000,000
Feb
1
1921
int. date at 105 and int.
A sinking fund of 1 % per annum of bonds out¬
standing began May 1 1911. said fund to be invested in the bonds at
any
105 & int.
The amount reported outstanding as above ex¬
cludes $3,097,000 held by trustee in sink. fund.
Authorized amount of
bonds may be increased for purchase of additional shares of com. stock
not more than
of
Phila. Co.
Bonds
are
listed
on
N. Y. &
Phila. Stock
Exchanges.
V. 90.
& 169, 172.has accrued these bondsconvertible 11917. See remarks at par.
Interest
Convertible bonds are since Feb. Into common stock above.
o
on
Stock.—The preferred stock can be retired at
pref. stock out bears divs from Sept. 1 1909.
Pref.
Stock Din.
bear int. at rate of
110.
$1,000,000
of the
Certificates.—Of the $1,462,500 outstanding. $712,500
6% and $750,000 at 5%.
1919---.$1,034,969
Dividends.—First div., 1V£%, on pref. stock, paid Jan. 3 1903: 1 V, %
July '03; in Jan. '04. IH%; July, 1*4%: in '05, 4%; m '06. Jan.,
2H% (V.
81, p. 1667): April, \*4 %—owing to the earthquake and fire, this
dividend
was paid in
interest-bearing scrip instead of cash.
V. 82, p. 988.
In July
1906 another scrip dividend of 2>^% paid (V. 82,
p. 1381), and in Jan. '07
another of the same amount; July '07 dividend
passed altogether.
V, 84
1918
p.
remaining $5,000,000 to be determined at time of issuance, but not to ex¬
ceed 6 %.
Sinking fund provides for retirement of entire issue at maturity.
V. 99, p. 122, 1131.
EARNINGS.—For years end. Dec 31;
Year—
Gross.
Net, after Taxes.
Oth.Inc.
Deductions.
Deficit.
def.$147,299
$9,947
$202,702
$340,053
def.45,170
8.572
206,536
243,135
ROAD.—Owns and operates railway system in San
Diego and Coronado
aggregating 75.75 miles of track, including 28.41 miles of second track and
1.21 miles sidings.
Operates 10.61 mites between San Diego and Chula
Vista, owned by San Diego & Arizona Ry. Co.
Standard gauge 60-lb.
T rail and 114-lb. Trilby.
Has generating capacity of 7,200 k. w.
OFFICERS.—Pres., J. D. Spreckels; V.-P. & Man. Dir., Wm. Clayton;
Sec., Claus Spreckels; Gen. Counsel, Read G. Dilworth; Treas., Claus
Spreckels.—V. 83. p. 380; V. 85, p. 1144; V. 99. p. 122, 675, 1131; V. 109,
p. 1462, 2172.
1,088,363
SAN
FRANCISCO, CAL.
ft PACIFIC GAS & ELECTRIC CO.—See "Railway & Industrial" Section
CALIFORNIA STREET CABLE.
ORGANIZATION.—Chartered Feb. 8 1877,
Wednesday in January.
Annual.meeting the third
Franchise expires in Feb. 1929.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
(par $100)
1
Monthly
$1,000,000
See text
First mortgage $384,000 ($l.-f 1915
6 g J-J
253,000
Serially
000) red 1st 5 yrs at 105,{Int. at office of company.
Union Trust Co.
thereafter at 103
t
of San Francisco. Trustee.
Stock
1429.
None since.
^
REPORT.—Fiscal years ending June 30
Year
Divs. Rec'd
Ending—
June
30
on
Stocks.
1920
$1,466,100
June
30
1919
June
30
1918
1,473,300
1,534,687
1,718,850
(1920 report V.
Other
Total
Income
Expenses.
$264,617
192,893
168,821
Ill,
p.
1656);
$92,577
73,137
90,270
Interest
on
Bonds, &c.
Balance
Surplus
$1,065,924
$572,216
1,074,449
518,607
1,072,523
540,715
June 30 1917
172.733
84.441
1.092,339
714.803
The entire surpluses 1919-20, of
1918-19, 1917-18and 1916-17 aggregat¬
ing $2,346,340 have been set aside as a provision toward
losses sus¬
tained through investment in United RRs. of San Francisco.
OFFICERS.—Pres., Mason B. Starring; V.-P., Eben Richards; Treas.
B. S. Guinness, N. Y.; Sec. & Asst.
Treas., M. V. R. Weyant; Aud. &
Asst. Sec., P. M. Hoskins.—V.
105, p. 717, 1421, 1516; V. 106, p. 2451,
V. 107, p. 1379; V. 108,
p. 1823,
2023; V. 109, p. 1701, 1790; V. Ill, p.
(1)
1656.1
The Railroads & Power Development Co,
ORGANIZATION.—Incorporated in Maine on June 9 1909 with nominal
($1,000) capital stock, which has since been increased to
$6,000,000 ($100)
of which $5,501,000 is
outstanding.
All stock (except directors' shares) is
owned by United Rys. Invest. Co. (V. 88.
p. 1314. 1129). In Dec. 1912 dis¬
.
posed of its holdings in the San Francisco Electric Rys., Sierra & San Fran
Power Co. and Coast Valley Gas & Elec. Co. to the
California Ry. & Power
Oct
Owns among other investments $163,900 prior preference, $1,740,000
pref. and $5,836,000 common stock of the Calif. Ry. & Power Co.
OFFICERS.—Pres., Mason B. Starring: V.-P., H. J. Bowdoin; Sec. &
Treas., P. M. Hoskins.—V. 88, p. 529, 847; V. 90, p. 1364.
Co.
California Railway & Power Co.
(2)
All the common and pref. stock issued is owned or
controlled by the United
Rys. Investment Co.
outstanding 1st pref stocks and $7,950,000 common
stock of United RRs. of San Fran., ana the entire outstanding stocks (except
director's qualifying shares) of the San Francisco Elec. Rys., Sierra & San
Francisco Pow. Co. and Coast Valleys Gas & Elec. Co.. These securities had
Devel. Co.
On Oct. 5 1920 the stockholders voted in favor of a propo¬
Previously been held by the United Rys. Invest. Co. and The Railroads &
'ow.
made to the co. to purchase the stock of the Coast
Valleys Gas & Elec. Co. held by it.
Compare V. Ill, p. 1469.
We have
been advised that this stock
was
disposed of shortly thereafter.
Owns
$1,925,000 7% notes of the United RRs. of San Fran.
No int. has been paid
these notes since Dec. 15 1916.
On Dec. 14 1917 the company brought
against the United RRs. for recovery of principal and interest.
In
March 1919 the case was still pending.
Lease Controlled Company.—See Sierra & San Francisco Power Co. below.
on
suit
Authorized. Outstanding.
$40,000,000 $40,000,000
STOCK—
Common stock
Last Div.
6,874,400
6,874,400 June '14. 2%
5,000.000
2,800,000 See text
preferred stock is redeemable at $115 a share except the first
$3,000,000, which will be retired, when earnings are sufficient therefor,
through a cumulative sinking fund $100,000 yearly on January 1
1914 to 1917 and $260,000 annually thereafter.
$100,000 was redeemed Id
cash Jan. 2 1914 (V. 97. p. 1820. 1662) and $100,000 Jan. 2 1915 (V
100
p. 53).
None redeemed since.
Additional prior pref. stock may be
issued only for additions, betterments, acquisitions. &c.
No mortgage or
other incumbrance may be created that does not provide for the cancella¬
tion of all prior pref. stock then outstanding.
V. 96, p. 61.
REPORT.—For years ending June 30 (1920 report in V. Ill, p. 1469)
Fiscal
Total
Net
Previous Total for
Prior Pref.
Total
Year—
Tncome.
Income.
Surplus.
Divs.
Dividends.
Surplus.
1919-20... _$3,457
_def.$23,838def.$34,026
—def.$57,864
1918-19
131def.$28,528
def.5,498 def.34,026
def.34,026
1917-18..,.
222 def. 10,056
4.558 def.5,498
def.5,498
Dividends.—^Flrst dlv. on prior pref. stock—154%—paid April 1 1913;
same rate quarterly to and Incl. July 1916.
In Oct. 1916 paid only 1%.
None since.
V. 105. p. 1416.
In Sept. 1913 a dividend of 3H% was
paid on the preferred stock.
In June 1914 2% was paid.
OFFICERS.—Pres.. Mason B. Starring; V.-Ps., G. de B. Greene and
S. H. March; Treas., B. S. Guinness; Sec. & Asst. Treas., P. M. Hoskins;
Asst. Sec., C. H. Mann,—V. 104. p. 1263. 2010. V. 105, p. 1308. 1416,
1418, 2542; V. 107, p. 1380; V. 109, p. 1608: V. Ill, p. 1469.
Pref. stock, 7% cum., red. at $115.
Prior preference 7% cumulative
Prior
(a) San Francisco Electric Railways.
Entire stock is owned by California Ry.
& Power Co.
1910 road was leased to the United RRs. of San Francisco,
below.
Lease provides for all charges, incl. int. and sink, fund
bonds.
Lessee guar. prin. & int. on 1st mtge. bonds.
V. 91, p. 464.
Lease.—In
which
on
see
Merger Probable.—In Oct. 1920 we were informed that the co. was likely
merged with the successor of the United RRsg of San Fran., now under¬
going reorganization.
^
ORGANIZATION.—Incorporated In 1909 for purpose of acquiring and
to be
operating other street railways in San Francisco.
In July 1909 acquired the Parkside Elec. Ry. Co.
the Vfsitaclon Valley Elec. RR.
V. 89. p. 529.
mon stock of United RRs. of San Francisco.
V. 88, p. 1129, 1314
(V. 89, p. 287) and also
Owns $9,997,500 com
Outstanding.
Maturity
$10,000,000
—.
5
1,416,000
Dec. 1934
gup & i by U RRs of S F__\Union Trust Co., San Francisco, Trustee
Of the bonds reported outstanding, $351,000 are in sinking fund.
OFFICERS.—Pres., Geo. K. Ford; V.-P., John A.
Tyrell; Treas.
F. Forbes; Sec., F. F. Hahn.—V. 91, p. 464; V. 95, p. 1609, 2011.
STOCK AND BONDS-r
Stock
$10,000,000
First
mortgage
1909 filed a certificate of decrease in common stock from
to $18,800,000, the United
Ry.
Investment
Co. having
12,000 shares for cancellation.
V. 88, p. 1314.
The San Fran. Elec. Rys. has acquired $9,997,o00 of com. stock of
Un. RR. of S. F.; $7,950,000 of the common stock and all the pref. are
owned by the California Ry. & Power Co.
United RRs. of San Fran. In 1910 leased the San Fran. Elec. Rys.
8ee
On
March 5
$20,000,000
surrendered
and V. 91, p. 46.
Also leases Gough Street RR.
Default—Reorganization.—In view of the unsettled conditions surround¬
that company above
ORGANIZATION.—Incorp. In Delaware on Dec. 18 1912 to take over
and hold the entire
sition which had been
127
ELECTRIC RAILWAYS
1920. |
,
Date.
($100)
Interest.
—
$10,000,000/ 1909
ing maturing underlying bonds and reorganization plans,
the Oct. 1 1916
the company s $23,854,000 4% bonds has not
A sufficient number of bonds having been de¬
posited thereunder, the amended plan of reorganization dated April 26
1917 was declared operative June 2 1917.
Full details of the plan were
given in the May 1918 number of this publication.
Owing to changed
conditions it was deemed advisable to amend this plan to some extent.
The amended plan, which has been approved by the Calif. RR. Comm.,
and which was declared operative (V. 110, p. 1291, 1527) in March 1920,
provides:
The Market Street Ry. Co. is to become the operating company and its
capital stock is to be increased to $32,150,000, par $100 a share, and will be
reclassified: the company is also to create an issue of 6% 5-year notes with
which to refund the matured underlying bonds.
These securities are to be
and
subsequent Interest on
been paid (V. 103. p. 1303) .
distributed
as
follows:
(a) Refunding Underlying Bonds.—The said 6% notes, $5,200,000, to¬
gether with $520,000 in cash, will be exchanged for or used to acquire the
following matured underlying bonds to a like aggregate amount, viz.:
Market St. Cable Ry. Co.$1,800,000[Omnibus Cable Co
$2,000,000
Ferries & Cliff House Ry .Co.$400,0001 Sutter Street Ry. Co
1,000,00®
(b) Exchange Offered United RR. 4s.—The holders of United Railroads
bonds, $23,500,000, will receive an aggregate of 100%, or $23,500,000, in
other securities as follows:
Market
St.
Prior Pref.
Stock.
|
Preferred
2d Pref.
Common
Stock.
Stock.
Stock.
aggregate—$3,525,000 $11,750,000 $1,175,000 $2,350,000 $4,700,000
Percent.
15%
50%
5%
10% ^
20%
Per $1,000 bond
$150
$500
$50
$1J0
$200
(c) Exchange of $46,613,600 Junior Securities .—The holders of United
Railroads 7% notes, $1,925,000: 6% notes, $740,000: 5% notes, $1,000,000:
Pref. stock, $5,000,000; 2d Pref. stock, $20,000,000; Common stock, $17,948,600: an aggregate par value of $46,613,600 [largely owned by California
Ry. & Power Co.—Ed.] will receive:
Preferred Stock.
2d Pref. Stock.
Common Stock.
Total.
$3,825,000
$2,350,000
$6,000,000
$12,175,000
The holders of said junior securities of the aggregate face amount of
$46,613,600, have agreed to surrender or cancel all said notes and perform
the other acts provided in exchange for this $12,175,000 of new stock.
As
a part of this transaction, the holders of the junior securities will cause all
the properties, operative and non-operative, of San Francisco Electric Rys.,
except shares of stock of United Railroads, to be transferred to the Market
Street Ry. Co., or to such other corporation or person as the committee
shall direct, with appropriate quit claims, &c.
In consideration for which,
in addition to the delivery to them of the stock above mentioned, the com¬
mittee will cause the $790,000 bonds of the United Railroads Investment
Co., and $901.385 notes of Railroads & Power Development Co., now owned
by the United Railroads, to be canceled, as heretofore provided in the
original and in the amended plan.
A description of the securities to be Issued in connection with the plan
together with the amounts of each issuable thereunder, follows:
Bonds.
In
Stock entitled to cumulative divs. at rate of 6%
from the date of issue, preferred over all other stock
dividends, and, in case of dissolution, with
respect also to the assets
.
$11,750,000
Preferred Stock 6% cumulative divs. and preferred to the same
extent over the 2d Preferred stock and Common stock
5,000,000
Second Preferred Stock 6% non-cumulative and preferred over
Common stock with respect to dividends and assets
4,700,000
Prior Preference
per annum
with respect to
Common
10,700.000
Stock
Stock is owned by the
ORGANIZATION.—Incorporated in California on May 29 1909 and on
J.
the aggregate amount of $5,200,000, se¬
$5,200,000 of the present unissued Market St. Ry.
bonds.
Said notes will also be secured by a first
mortgage upon all the operative properties and franchises of
United Railroads formerly owned by the Sutter St. Ry. Co.,
Sutro RR. Co. and San Francisco & San Mateo Electric Ry.
Sinking fund, $160,000 annually.
Total issue, with $520,000
cash, to replace a like amount of underlying bonds as stated
above
(ft)
Sierra & San
1
power to
In Oct. 1917 purchased the LaGrange division
and better
that company.
of the Yosemite Power
ments from Dec. 1916.
Co. for $450,000 and cost of additions
V. 105, p. 1528.
Lease.—On Dec. 31 1919 a contract was
& Electric Co.,
negotiated with the Pacific Gas
under which the operating properties of Sierra & San Fran¬
leased for a period of 15 years with the understanding
cisco Power Co. were
would be made by Pacific Gas & Electric Co., to finance
additions both in generating and distributing equipment by the
Francisco Power Co. bonds if feasible and otherwise by
the use of Pacific Gas & Electric Co. credit.
The interest obligations under
both the Sierra Co.'s Trust Indentures are guaranteed in effect by Pacific
Gas & Electric Co. during the life of the lease and in addition the co. re¬
ceives a rental of $50,000 per annum for the first two years, $100,000 for
the third year and $150,000 per annum for each year thereafter.
V. Ill,
that arrangements
necessary
sale of Sierra & San
P
On May 2 1918 was auth. by the Cal. RR. Comm. to sell at not less than
80 and int. $1,000,000 1st M. 5% bonds, proceeds to be used to reimburse
in part for exp. and Impts. made
Up to Sept. 251919. these bonds
the treasury
in table.)
cured by
Co. 5%
Francisco Power Co.
*
California Ry. & Power Co.
1909 took over the Stanislaus Elec. Pow. Co. and the Tuolumne
Water Power Co., both foreclosed per plan in V. 88. p. 235, 569, 1005, 1066
Has contract extending to 1954 with United RRs. of.San Fran. to supply
Sept.
Five-Year 6% Notes in
prior to Feb. 8 1918 (not incl
had not been sold.
Date.
Interest.
Outstanding.
Maturity
$20,000,000 ($100)
$20,000,000
$30,000,000 g ($1,000.1 1909
5 g F-A
7,500.000 Aug 1 1949
$5,000. &c)
c*&r*tf llut.at U.S.Mtge.&Tr Co., N. Y., Trustee
2d mtge Ser A&B $9,500,000/ 1909
5-6 J-J
9.500,000 Jan. 1 1949
($1.000)
c* I Columbia Trust Co., New York, Trustee.
STOCK AND BONDS—
Stock
1st M
——
5,200,000
of the amended plan, dated April 26 1917, will be
found in the May 1918 number of tbis publication, and the reader will find
the above amendments and changes in details in v. 109, p. 1367.
In Jan.
1920 over 91% of the holders of the Market St. Cable 6s, Ferry & Cliff 6s,
Omnibus Cable 6s, and Sutter Street 5s, had agreed to exchange their
bonds for the new Market St. Rys. 5-year 6% notes.
V. 110, p. 262.
See
also V. 110, p. 1291.
The stockholders of the Market St. Ry. were to vote on Oct. 18 1920 on
Increasing the total capital stock to $32,150,000 and the auth. bonded debt
to $22,700,000 in accordance with the provisions of the above plan.
V. Ill,
p. 897.
♦
Reorganization Committee.—Frank B. Anderson, Chairman; William H.
Crocker, Herbert Flelshhacker, I. W. Hellman Jr., and John D. McKee,
with office at 901 Alaska Commercial BIdg., San Francisco, and Plllsbury,
Madison & Sutro of San Francisco as counsel.
Up to Mar. 20 1920holders
An extended outline
$22,760,000 4% sinking fund bonds, due 1927, had approved
In the amended plan.
V. 110, p. 1527.
Depositaries for United RRs. 4s.—Union Trust Co., Market St. and Grant
Ave., San Francisco, and as Its agents, Guaranty Trust Co. and Equitable
Trust Co.? N. Y. City.
Certificates of deposit have been listed on the
of more than
the changes
Stock Exchange.
Committee.—Chairman, John Henry Hammond, of Brown Bros.
Donald G. Geddes, of Clark, Dodgt & Co., N. Y.; B. Howell Griswold Jr., of Alexander Brown
& Sons, Baltimore, Md.; A. H. S. Post.
Pres. Mercantile Trust & Deposit Co., Baltimore; Sec., Morreil W. Gaines,
50 Wall St., N. Y. City.
Depositaries, Union Trust Co., N. Y. City;
Girard Trust Co., Phila.; Mercantile Trust & Deposit Co., Baltimore.
Brown, Shipley & Co., Founders Court, Lothbury, London, E. C., will act
as sub-depositary for foreign holders.
See V. 104, p. 1703.
On Dec. 26 1916 suit was brought to foreclose the mortgage securing the
$1,800,000 Market St. Cable Ry. bonds due Oct. 15 1916.
V. 104, p. 73.
The bonds have been purchased at par by a syndicate which has also pur¬
Y.
N.
Eastern
& Co.;
'
Bonds.—First mtge. bonds are subject to call on any Int. date at 110
The remaining bonds may be Issued at 80% of cost of extensions
int.
add'ns,
provided net earnings for previous 12 mos. shall equal
and
and
twice int.
be Issued.
V. 91, p. 157
Second mtge. consists of
Series "A" $1,000,000, at 6%, and Series "B" $8,500,000 (incl. $43,775
Series "B" and scrip in treas.), at 5%.
Int. on Series "B" bonds was
payable at option of company from July 1 1910 to and incl. Jan. 1916 in
additional Series "B" bonds in lieu of cash, and was so paid.
July 1 1916
and subsequent int. has been paid in cash.
EARNINGS.—
Gross
Net (after
Other
Interest on
Balance,
12 Mos. ending—
Earnings.
Taxes).
Income. Brmds, &c. Surplus.
*6m. end. Dec. 31 T9$1,3I6,025
$183,857
$12,182
$435,941 df$239.902
June 30 1919—
2,225,160
981,771J
11,213
863,567
129,417
June 30 1918
1,694,474 1,010,111
20.831
859,357
171,585
*
On Dec. 31 1919 the co.'s properties were leased to the Pacific Gas &
Elec. Co. (see above under "Lease") and earnings are no longer reported
charge on all outstanding bonds, Incl. those to
The bonds are listed on the N. Y. Stock Exch.
separately.
Property.—Owns water-power properties near
,
mentary steam
San Francisco and a supple¬
station in that city, which have a combined capacity of
97,940 h.p.
Mason B. Starring; V.-P., John F. Forbes; Sec.
Richards.—V. 106, p. ,2349, 2763; V. 107, p. 1389;
OFFICERS.—Pres.,
&
V.
Treas.,
Ernest A.
Ill, p. 1478.
<c
United Railroads of San
Francisco.—Trolley.
Incorporated in California on March 4 1902 and charier amended March
29 1902.
Has acquired the following stocks:
Shares
Name of Company—
*
Acquired.
Co
Sutter Street Railway Co
Market Street Railway
Sutro
Railroad Co
& San Mateo Electric Ry. Co
San Fran.
'
—
186,169.11
20,000
23.066
10.000
239,235.11
Par
Value.
$100
100
10
100
chased at par the Ferries & Cliff House 6s due Dec. 31 1916.
In Mar. 1918
the Anglo-California Trust Co. and the London Paris Nat. Bank of San
Francisco filed suit against the Market Street Ry., this co. and the Union
Trust Co.
of San Francisco, as trustees,
to foreclose the latter mortgage.
V. 106, p. 1127.
On April 1 1920 the case was still pending.
On Dec. 12 1918 an agreement was signed providing for the use
of the
company's tracks west of Twin Peaks on Ocean Ave. and to Parkside by the
Municipal Railways, the consideration for this privilege being $100,000
and a car mileage charge of 7^ cents.
Compare V. 107, p. 182.
Possible Purchase by City.—In Sept. 1920 it was reported that two charter
amendments would be placed before the people at the election to be held in
Nov. 1920, which, if favorably voted upon, will enable the city to negotiate
for the purchase of the U. RR.'s property and the Spring Valley Water Co.'s
property.
It was the original intention to put the question up to the voters
in the Spring of 1921.
V. Ill, p. 1473.
Compare V. Ill, p. 1085.
Decision.—On Jan. 18 1917 Judge Hunt in tUe U. 8. Court, at San Fran¬
cisco dissolved the temporary injunction preventing the construction of
municipal street railway tracks on lower Market St., paralleling the co.'s
tracks.
The company appealed, but on April 21 1919 the U. S. Supreme
Court upheld the decrees of the Federal Court dismissing the injunction
proceedings brought by the company.
In dismissing the company's appeal
the Court said that this action was taken without prejudice to the company's
right to seek damages.
The various damage suits filed by the company up
to May 1919 bring the total amount of damages claimed up to $6,870,130.
V. 108, p. 1823, 1722.
Compare V. 107, p. 2290; V. 108, p. 1391.
Suit.—On Dec. 14 1917 an action to recover $1,925,000 and Int. at 7%
from Dec. 1 1916 was brought against the co. in the U.S. Dlst. Court by
the California Ry. & Power Co., which contends that said amount remain*
unpaid on a loan of $2,000,000 made to defendant.
V. 105, p. 2544. On
April 1 1920 the case was still pending.
S TOCK AND
BONDS—
Date.
Common $18,800,000
Pref 4% aim $20.<>O0,000_
1st
pref
7% cum
$5,000,000-1
Interest.
4J-D
1907'
7 F-A
Outstanding.
Maturity
$17.948,600Mch'06 1.5%
20.000.000 Aug'13, 1%
5.000.000
See text.
ELECTRIC
128
STOCK AND BONDS—
RAILWAYS
Interest.
Dale.
Outstanding.
Maturity
1906
5
$1,000,000 Feb. 1 191o
1 Redeemable after 6 years at par.
Sinking fund gold bonds $35.-/ 1902
4 g A-O
23.500.000 April 1 1927
275.000 ($1.000)
—-C*{ Interest at company's office, or in New York
Notes
$1.000.000-
EARNINGS.—For year ending Dec. 31:
/
Calendar Year—
1919
1918
Union Trust Co., San Francisco. Trustee
6%
740.000
I
Income deferred notes
7%
1,925.000
6 J-J
60.000
See
text.
Equipment
notes
$.300,000
($1,000).
Red
at
102 4 Int. at Anglo-Cal. Tr. Co.. San Fran., trus
and int. on any int date...
tee, or E. II. Rollins & Sons. New York
1894
5 g M-S
Market Street Ry consul M
7.016.000 Sept 1 1924
Int. at Treasurer's office, San Francisco.
g (closed at $14.007.000)
Divisimial Bands.—
1883
6J-D
($1,000) g (see text)
J
Omnibus Cable Co 1st Mtge—
Ferries & Cliff House Mtge_
Sutter Street 1st Mtge gold/
1888
1889
6 A-0
6 M-S
—
5 M-N
($1.000
STOCK AND BONDS—
Date.
Interest.
1,821.000
April 2 1918
198
1910
S4N
was
19
Dated July 1 1917.
Denom. $1,000, $500 and
$100; Interest payable semi-annually.
Total, $5,500,000, viz.:
Class "A" bonds, call, at 102, a fixed charge from July 1 1917-$2.012,400
V. 93, p. 1535.
$10,900 5% debentures
are
held in treasury.
changed with the S.
P.
Co?
OF'FIGKRS.—Pres.
Jas. Irvine. San Fran ; Sec. A Treas., T. V. Max¬
well, San Fran.; Gen. Mgr., C. E. Brown. Napa.—V. 107, p. 402.
SAN
JOSE,
CAL.
SAN JOSE RAILROADS.—A trolley road.
Pacific Co. owns entire stock except, directors' shares
Southern
ORGANIZATION.—Incorp. in California Dec 23 1909 as successor to
Co.
V. 90, p. 1297.
Properties of San Jose A Santa Clara
RR
Co
purchased by San lose RRs
March 15 1912
In June 1918 applied to the Cal. RR. Comm. for auth. to abandon that
part of its line between Linda Vista and Toyon stations and a portion of
the line on Monterey road.
Fare Increase.—In Aug. 1918 was auth. by the Cal. RR. Comm. to In¬
crease fares from 5 cents to 6 cents.
V. 107, p. 604.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity,
Stock $5,000,000 ($100)
$5,000,000
1st
mtge
$1,500,000
gold/ 1910
5 g J-J
1.361.000 Jan 1 1955
($1,000) sinking fund
tf Int. at Mercantile Trust Co., S F., Trustee.
San Jose A Santa Clara Cof 1906
4 4 A-O
1.152.000 April 1 1946
RR 1st & ref M $1,500,00 M Int. at Union Trust Co.. San Fran.. Trustee.
San Jose Ry
Countv
RR. bonds are subject to call
Sinkina fund of 1 % of outstanding bonds began Apr. 1 1911.
subject to following sink.fund provisions, Jan
1 1915 to
$10,000 per year.
1940-44, incl., $20,000 per yr: 1945-49,
atllOandint.
1st M.bonds
are
1939, Incl.,
$30,000 per yr.; 1950-54,
$40,000 per yr.;
or
these bonds may be delivered
to trustee in lieu thereof.
EARNINGS.—For years ending Dec. 31:
Year—
Gross
Net.
Other Inc. Int.,Rent.,Ac
Bal.Def.
$192,592
def$120.214
496
181,028
137.387
ROAD.—Owns 24.79 miles first crack. 11.75 miles 2d track. 2.02 miles
sidings and turnouts; total. 38.56 miles; serving cities of San Jose and
Santa Clara and country adjacent thereto
Standard gauge
45 electric
motor and 13 trailer cars; 3 automobiles for passenger service.
$351,782
1918
302.426
$71,711
43,146
$667
OFFICERS.— Pres.
Wm. F
Herrin. V. P., Raul Shoup. Sec
A Aud.
Culloden: Treas., M. S
Wade* Gen
Mgr., F
E. Chapin.—V
90,
1297; V. 92, p. 1033; V. 104. p. 560: V. 107. p. 604.
H. A.
SANTA
CRUZ, CAL.
COAST COUNTIES OAS & ELECTRIC CO
ORGANIZATION.—Organized in California on Mar. 20 1912 and has ac¬
quired the Coast Counties Light A Pow. Co.. Big Creek Light A Pow Co.
and San Benito Light A Power Co. and Gilray Gas Works; also the
entire
capital stock of the Union Trac. Co. (Santa Cruz)
payments.
palities perpetual* county franchises
STOCK
AND
BONDS—
Date.
Common $2.000.000
1919951,200
1922- 1,268,200
1927. 1.268,200
interest only to
1st pref $1.000.000 6% cum..
Pref $1,000.000 6% cum
Coast Counties LAP 1st
M/
on
Franchises In munici¬
highways until 1946 to 19 %9
Outstanding
Maturity.
Interest.
Quar.
Quar.
1906
5 g F-A
$1.009 090
158.600
1.000 im 10
See text
See text
868,000
Aug 1 1946
$1,000,000 g ($1.000)-c*tf Int. at Mercantile Tr. Co
Sm Fr.. Trustee.
BigOrk LtAPow lstM$339.000 tf—
4%
280.000 Mav 1 1947
8an Ben LtAPow lstM$150.000 tf—
6%
143.000 Sept 1 1950
Bonds.—Of the Coast counties Lt. A Pow. bonds.
$132,000 are held In
skg. fd.
Callable 107 4 and int. on any int. day.
Annual cum
skg
fd.
of 1 % of bonds out. began June 30 1911.
V. 95. p. 681.
Sink
fd. on Big
Creek Lt. A P. bonds, $3,600 per ann. began Mar. 30 1908:
$59,000 bonds
and $741 cash
in
sinking fund.
Sinking fund on San Benito Light A
Power bonds of 1 % of bonds out, began June 30
1915.
$7,000 bonds and
$2,440 cash in fund.
sufficient
number of Class "A" bonds will be sold to
provide for pur¬
the reorganization plan.
Voting Trust.—All of the new capital stock is deposited with the Union
Trust Co. of San Francisco under a voting trust
agreement, such trus« to
continue until all the bonds of the new corporation shall be
paying the full
fixed interest of 5% per year, but not longer than July 1 1927.
See V.
104, p. 1489.
EARNINGS.—For cal. year 1919, gross oper. revenue, $1,532,130;
net,
after taxes & deprec., $246,681; other mcome, $29,980; int.,
Ac., $169,828
bal., surp., $106,833.
ROAD.—Total main line operated, 160.43; other tracks, 53.89;
total,
214.32.
Connects
Chico,
Oroville,
Marysville,
Sacramento.
Yuba
City, Colusa, Meridian and Woodland.
Also connects Suisun and Vacaville in Solano County.
Gauge, 4 ft. 84 in.
Rail. 60 A 70-1 b. T
OFFICERS.—Chairman of Board, John D. McKee; Pres., George F.
Detrick; V.-P., Sidney M. Ehrman; Sec. & Treas., A. E. Wellington.
—V. 109, p. 677, 1274.
poses necessary to
Dividends.—6%
per annum
is being paid
on
firstpreferred stock.
EARNINGS.—For years end. Dec. 31 (not incl. Union. Trac.
Co.):
Year—
Gross.
Net {aft.Tax.). Int., &c.
Deprec'n.
Surplus
1919
$523,184
$214,152
$84,457
$51,054
$78,641
1918
440.332
143,957
89.073
38.395
161488
Property.—Has one hydro-electric and two steam plants; combined
capacity. 3.346 h. p.; 75 miles transmission lines and 541 miles
distribution
lines.
Gas plants In Santa Cruz.. Watsonville. Hollister and
Gilray.
OFFICERS.—Pres. A Gen
Mgr., S. Waldo Colernan;
V.-P.
R
M
Hotaling; Sec. A Treas., L. W. Pryor.—V. 95. p. 681; V. 101.
p." 614.
RAILWAY.
Entire stock,
except directors' shares, is owned by Southern Pacific Co.
ORGANIZATION.—Incorporated in California June 30 1909 as a con¬
solidation of various electric railways In which the Southern Pacific Is Inter¬
ested, namely the Peninsular RR. Santa Clara Inter-Urban RR. (V. 83.
p. 380; V. 87, p. 545) and the San Jose-Los Gatos Interurban Ry. (V. 76.
p. 1409: V. 89. p. 104).
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock $12,000,000 ($100)
$12,000,000
Union Traction Co.—Controlled by the Coast Counties Gas A Elec Co
At a meeting of the bondholders of the Union Traction Co.
in Aug
1915
a bondholders' protective committee was
appointed to investigate the con¬
dition of that corporation.
V. 101, p. 616. 846.
A majority of the bond¬
holders have signed an agreement, -without surrender
of
,
any foreclosure
rights, to the effect that property is to be managed as heretofore and cou¬
be paid as earned.
One coupon was paid Sept. 30 1919
and another
Sept. 1 1920.
Fare Increase.—In Aug. 1918 was auth. by the Calif. RR.
Comm
to
charge a 6-cent fare In Santa Cruz and on the lines between that
pons to
-
500,000 May 21 1923
mortgage $2,000,000 ($500/Interest at Central Trust Co., San FranA $1.000)
c*tfj
Cisco, Trustee.
Bands.—A sinking fund of 2% of net earnings, but not less than $10,000
are held in treasury, $40,000 are in sink,
reserved for additions and extensions at 75% of cost
Annual sinking fund of 1% of bonds out began
Int., &c.
Surplus.
1919$338,704
$132,438
$65,423
$67,014
326.916
164.559
64,667
99.892
46
mil es of track
ROAD.—Comprises
extending from Vallejo
via
Napa, to Calistoga. of which 30 mlla« on private right of way. 12.39 miles
on
streets or highways and 3.32 miles sidings, standard gauge.
Owns
37 acres of land, incl. water front in Valleio.
Commenced operation of
freight service into Mare Island Navy Yard 8ept. 20 1920 over a branch of
3,900 ft. additional main line and over Mare Island Government Causeway
and Transfer Yard on Mare Island, the latter having a capacity of 75 cars.
All transcontinental freight will hereafter move over this route for Mare
Island.
In 1920 comxtleted a 75-car interchange yard at
Napa Junction,
7 miles from Mare Island, where freight for the Navy Yard will be inter¬
betterments.
began Jan. 1 1905*
are
($1,000) eold
o*tf1
Bands.—The San Jose A Santa Clara Oo.
The capitalization of the new company is as follows:
First pref. (a. A d.) stock, 6% non-cumulative (par $100)
$1,902,200
Second pref. (a. & d.) stock, 6% non-cumulative (par $100)
957,800
Common stock (par $100)__
2,340,000
1st M. 5% 20-year bonds, all on equal footing except as to Interest
.per annum,
school children's tickets
EARNINGS.—For years ending Dec. 31:
Calendar Year—
Gross.
Net {aft. tax.)
SACRAMENTO NORTHERN RR.
Organization.—Incorp. in California on June 20 1918 as a reorganization
plan In V. 104. p. 1489 of,the Northern Electric Ry., bid In at foreclosure sale on May 28 1918.
IV. 106, p. 2758; V. 107, p. 182; V. 109, p.
2440.
Owns $75,500 stock (total outstanding) of the Northern
Realty
Co. and uses some of its properties for operative purposes. V; 108, p. 80.
In Jan. 1919 the Cal. RR„Gomm. auth. the co. to use $653,750 realized
from its Class "A" bonds to pay reorganization and foreclosure
expenses
and to satisfy a mortgage Indebtedness of $213,750 of the Northern
Realty
Co.
V. 108, p. 80.
Compare V. 107, p. 2098.
See also V. 109, p. 1274.
Im Oet. 1919 was auth. by the Cal. RR. Comm. to expend $316,683 for
5 M-N21
Increase.—Effective
in 1914.
per
1903
repro¬
This however
Bonds.—$33,000 1st M. bonds
RAILROAD.—Trolley.
The city of San Francisco purchased the property an
rolling stock for
$32(3,000 and is now operating it, the franchises havlx.g expired Dec.
13
1913.
All debts were paid and stockholders received a dividend of $40
per share (par $100. of which $55 paid In in liquidation.)
1st)
order fixing the
under certain trestricUons.
FERRIES
San Jose-Los Gatos Tnter.
an
co.
foreclosahle *610 000
lov> **
PENINSULAR
accepted by the
fd. and remainder
1189, 1291, 1527, 1749; V. Ill, p. 390, 897, 991, 1085, 1473.
A
later.
or
July 1 1918, the co. was auth.. by the Cal.
round-trip rates and to increase the charges on
10%.
V. 107, p. 402.
STOCK AND BONDS—
Dale.
Interest.
Ou'stntitHoQ
Maturity.
Stock $2.000.000
$731,700
1st M $1,000,000 gold
($100.) 1911
6 J-D
553.000 Dec. 1 1930
$500 & $1.000) callable at Int. at Mercantile Tr. Co. San Fran.. Trus.,
105 & int. on any Int dayc*
or at office of E. H. Rollins & Sons, N. Y.
Debentures—unsecured non1911
5%
599.100 Dec. 1 1930
Interest, Rentals & Balance for
Income. Chgs.,&c. Leases. Sink. Fd.,&c
Class "B" bonds, call, at par, a fixed charge from July 1
♦Class "C" bonds, call at par, a fixed charge from July 1
♦Class "D" bonds, call, at par, a fixed charge from July 1
♦Prior to dates named O and D bonds will receive
extent of net earnings.
not
Fare
OFFICERS.—Pres. & Gen. Mgr., William von Phul; V.-P. & Sec., Geo.
Willcutt; Treas., A. M. Dahler.—V. 109, p. 1610. 2074; Y. 110, p. 262,
additions and
RY
RR. Comm. to abolish all
*8)
1
^
$
9,002,111 2.085,613 211.130 1,890,789 257,515
surl48,539
8,0.35,647 1.988,678 167,355 1,899,361 178,200
sur.78,472
l<Jh -18—..6.261,999
255,176 170,408 1,925,676 177,600 defl.677,691
ROAD.—Control and operates 274-54 miles of track.
Before me earth¬
quake and fire In 1906, a part of the mileage consisted of cable lines, but
this has since been changed to overhead trolley, an J the greater part
(94%)
of the system is now operated by electricity.
759 pass, and 69 work cars
FRANCHISES.—In a report by Hasklns A Sells, accountants. It was
stated "that out of the total original mileage of 228.95 miles, the franchises
for 11.5431 miles only expire prior to 1929; all others between that year
'
1952
1915 the California RR. Comm. issued
commutation and
1919-20
&
to
runs
Tn Dec.
1918-1$
PRESIDIO
CALISTOOA
duction cost of the property, less depreciation, at $1 ;910.846.
REPORT.—For year end. June 30:
Fiscal
Gross
Net (after
Other
B
&
Purchases power from Great Western Power Co. under contract expiring
1 1922, with privilege of extension for a further period of 10 years.
maturity (V 99 p. 1912).
The note to the Oal. Ry & Power Co. was
originally $2,000.000 but $75,000 has been paid.
Of the Omnibus Cable Co
bonds, $179,000. and of the Market 8t. Iiy. Co. 5%bonds. $82,000 have
been re-acquired and are held by the company.
Dividends.—On 4% prof., in 1902, Dec., 1.2%; in 1903. June, 1.2%.
Dee.. 1.2%; in 1904, June, 1.5%; Dec., 1.5%; in 1905, June, 1.8%; Dec.
2%.
In 1906, Mch., 3.6% (in full of all deferred dividends in arrears to
Sept. 30 1905); Dec., 2% (paid In dividend ctfs.).
None to Aug. 1913.
when 1% was paid.
None since.
On 7% pref., 34% paid semi-annually
from Feb. 1909 to Feb. 1914.
None since.
On com., 1.5%, Mar. 1906.
Earthquake and Fire.—For damage done by the earthquake and fire in
April 1906, see V. 82. p. 930, 988.
Later in the year the company suffered
from a strike of its employees.
See V. 83, p. 493, 563.
In March 1907 em¬
ployees again went on strike, and this strike lasted for six months—see
annual report, V. 86. p. 1221.
and
NAPA
Jan.
Rollins purchased and extended to Dec. 31 1910 $400,000 of these bonds.
The remaining $200,000 (of the $600,000 due Dec. 31 1914) were paid at
Taxes).
m.
FRANCISCO
Franchise
,
Earnings.
16.27
ORGANIZATION.—Incorp. Nov
10 1911 In California as successor to
the San Fran. Vallejo A Napa Valley RR.. sold at foreclosure on Oct. 30
1911.
V. 93. p. 1535.
Also acquired the VaPejo Benicia A Napa Valley
RR.
Has a 20-year traffic agreement with Monticello SS. Co.. providing
for daily schedule of at least six round trips between Vallejo and San Fran.
Maturity
Contingent Liabilities.—Prin. and Int. guaranteed.—
San Francisco Electric Rys
$1,416,000
Gougta Street Ry
45.000
Bonds.—Of the $35,275,000 sinking fund gold 4s. $9,866,000 are reserved
to retire underlying liens (the other $3,175,000 needed for that purpose be¬
ing provided by the operation of the sink, funds).
A sink, fund equal to
2% of the entire gross earnings, but not less than $100,000 a year, began
Jan. 1 1905.
All thd Income above 5% on the common must also be applied
to a sink, fund or Tor Improvements.
Y. 74, p. 529. 630.
Through opera¬
tion of skg. fd
$1.505.000 bonds have been purchased and canceled; $50,000
•remain unsold In the treasury; $354,000 have been reacquired and are
held by the company; these bonds are not included in amounts given above
as outstamUng.
Bonds were listed on the New York 8tock Exchange In
March 190$.
V. 76, p. 1036.
Equipment notes of 1912 mature $30,000
annually July 1 1913 to 1922.
V. 95, p. 751.
Prior lien bonds subject
to call.
$3,000,000 of Market St. Cable Ry. bonds were originally issued
falling due Jan. 1 191.3
On that date $1.200.000 were retired and the bal
ance was extended to Dec. 15
1915 and again to Oct. 15 1916.
The bonds
of Market
Street
Ry Issue are
subject
to operation of sinking fund
and Sutter St. Ry. 1st Mtge. 5s are subject to call at rate of $50,000 per ann.
In numerical order, beginning with bond No. 1. $49,000 of the latter have
been reacquired and are held in skg. fd. The notes shown In the table
above were Issued to reimburse the company In part for improvements since
1902.
The Ferries & Cliff House mtge. which fell due Mar 1 1914, was ex
tended to Dec. 31 1914 after $50,000 were retired.
In Dec. 1914 E. H
Year—
20.137
39.325
289.901
230.439
miles of first main track. 9.648 miles second
turnouts Ac.; total. 80.767 miles.
Also
first main track, leased to Sou. Pac. Co.. and 1.26 m. main
OFFICERS.—Pres., Paul Shoup, Los Angeles: Sec. A Aud.. H. A.
Culloden, Los Angeles; Treas., M. S. Wade. Los Angeles; Gen. Mgr.,
F. E. Chapin, San Jose.—V. 89, p. 104; V. 104. p. 2343.
_
Outstanding.
Deficit.
locomotive.
Oct 15 1916
Dec 31
Balance
$327,338
257.178
-
owns
1,800.000
400.000
Interest,
Rents. &c.
$315,633
track operated by San Jose RRs.
Serves San Jose. Saratoga. Los Gatos,
Campbell, Cupertino. Monta Vista. Mayfield and Palo Alto, all in Santa
Clara County.
Standard gauge.
60 and 70-lb., mostly T rail.
41 electric
motor cars( Including 2 express and 6 work). 2 trail cars and 1 electric
951.000 May 1 1918
[Union Trust Co., San Francisco, trustee.
1888
Other
Income.
$35,859
crack and 5.699 miles of sidings,
—
Mark St Cab Ry (closed) mtgel
Cross
Net (after
Earnings.
Taxes).
$306.381def$47564
298,494
23.148
ROAD.—Operates 65.420
1912
1912
—
—
1917
—-
Note (to Cal Ry A Pow Co)
[Vol. 111.
Twin Lakes and
i
between Twin
Lakes and Capitola. V.
107, p
further increase to 10 cents in
and the sale of 8 tickets for 50 cents. V. Ill,
p. 75.
June 9
1920 the Comm. auth.
a
city and
803
On
cash'
fares
Oct., 1920. |
ELECTRIC
B°NT>g—
-Date.
Union Trac Co 1st M
$750,-/
00p gold ($1,000) _c&r
bonds
The
Interest.
1905
ntfjlnt.
Outstanding.
5%
631,000
Maturity
Feb
at Union Tr. Co., San Fran.
1
1935
Trustee
have a skg. fund from 1910 to
1915 of H% of bonds
out.; from 1915 to 1920 1% of bonds
out., and from 1920 to maturity 2%
of bonds
put; said fund to be used to redeem the bonds,. Are subject to
5100,000 bonds are reserved for betterments and
extensions.
$19,000 have been retired.
.
niRpAD.—Operates 18 miles of track in Santa Cruz and to Oapitola
Standard gauge.—V. 101.
p. 616, 846; V. 107, p. 803; V. Ill, p. 75.
SAVANNAH, GA.
SAVANNAH ELECTRIC CO.—A trolley
system.
Receivership«-~On Dec. 22 1919, Howard C. Foss of
Savannah,
pointed receiver for the
co.
197-8
ing Co.
Bonds and stock
were
in July 1902 listed
on
the Boston Stock Exchange.
Abandonment.—In July 1920 the co. was auth. to abandon service on the
St. line. V. Ill, p. 295Increases.—Effective July 15 1920, the co. was auth. by the Ga. RR.
Whitaker
Rate
Comm. to increase fares to 7 cents cash and to sell 15 tickets for
$1.
STOOR AND BONDS—
Date.
Common $2,500,000 ($100)
Pref $1,000,000 6% n-c ($100)
Interest.
Outstanding.
($1.000)$l,25c,000.c*ntf lint, at Central Trust Co., New York.trustee
1st M
$2,500,000/
1912
5 A-0
See text
April 1 1932
(call at 105 and int)
tf (Commonwealth Trust Co., Boston, trustee
Notes payable June 30 1919..
1,416,000
r..
g
-
Stock.—The 6% preferred stock is subject to call at 120 at any time
Bonds.—Of the Savannah Elec. Co. 1st cons, bonds, $1,000,000 are re
served to retire a like amount of bonds of the Savannah Thunderbolt & Ysb
of
Hope Ry.; $353,000 are held in treasury.
Callable in whole (or in part
sinking fund) at 110 and int. on any interest date.
The company binds
beginning 1906. towards improve¬
ments or extensions, or in the purchase of bonds.
The remainder unissued
of the Savannah Elec. bonds may be used for new construction and
equip¬
ment, at rate of $1,000' bonds for $1,250 in cash spent.
Of the Savannah
Thunderbolt & Isle of Hope Ry. bonds, $250,000 have been canceled.
Sinking fund 2% per annum began Jan. 1 1918.
Bonds guar., p. & I., and
sinking fund by Savannah Elec. Co.
$1,250,000 Savannah Power Co.
bonds are outstanding and are deposited as collateral for floating indebted¬
for
itself to apply at least $20,000 per annum,
ness.
Dividends.—On pref. stock 1902 to 1907, inch, 6% per
since.
;
annum.
None
V-•,
EARNINGS.—For the 12 months ending June 30:
Year—
Gross.
Net (aft. Tax.).
Interest.
Sink.Fund
1918-19
$1,300,887
$263,333
$291,248
1,071,437
ROAD.—Operates
64.9 miles of single track.
auth. to extena its line co Port Wentworth.
Gauge, 5 feet.
and 17 other
BaL.Sur.
def.$27,915
—76,173
275,909
352,082
Power stations
In Sept. 1917 received
Construction has been begun.
12,300 k.w. capacity.
nave
80 passenger
cars.
OFFICERS.—Chairman of Bd., Wm. W. Osborne; Pres.. Geo. J. Bald¬
win; V.-Ps., Chas. W. Wetterer and Harry II. Hunt; Treas., Henry B.
Sawyer; Sec., Lionel E. Drew, Savannah; Asst. Sec., Geo. A. Pierce,
Boston; Gen. Mgrs.. Stone & Webster Mgt. Assn.—V. 108, p. 80, 2027;
V. 109, p. 2440; V. 110, p. 563; V. Ill, p. 190, 295, 1279.
A
SCRANTON, PA.
SCRANTON 5c WILKES-BARRE
holding company.
TRACTION
CORPORATION.—
ORGANIZATION.—Incorp. in Virginia in 1913 as a reorganization (per
plan V. 96, p. 1701) of the Lack. & Wyom. Valley Rapid Transit Co. (sold
at foreclosure), which company owned all the securities of the Lackawanna
& Wyoming Valley RR., the Scranton & Northeastern RR., the Lacka¬
wanna
Tunnel Co.
the Central Valley RR. and the Wilkes-Barre RR
These latter five companies were merged into the Lack. & Wyom. Valluv
RR. Co. (the
operating company) with $1,850,000 stock and $5,000,000
bonds, all of which is owned by the Scranton & Wilkes-Barre Trac. Corp
and deposited under that company's refunding mtge., subject to $888,000
L. & W. V. Rapid Transit coll. trust bonds.
The Railroad Co. owns all the
stock of the Lack. & Wyom. Valley Pow. Co.
Power franchises perpetual
Sinking Fund and Redemption Plan.—The plan for a sink, fund ($15,000
per ann.) and the establishment of a call price of 105 and int. for the Lacka.
& Wyo. Val. Rap. Tr. Co. coll. trus« 5% bonds of 1901 became effective
Nov. 8 1917.
V. 10u, p. 2094.
STOCK
ANjD BONDS—
Date.
Common $1,500.000Pref cum $1,000,000
L & W V
Interest.
-
See text
Rap Tr Co coll
trust?
1901
5%
Outstanding.
$1,500,000
813,800
Maturity
See text
&13.000 Aug 1 1951
5% gold bonds
c*tf(Int. at Guaranty Trust Co., N. Y., trustee.
Refunding mtge (see text) gj 1913
5%
2,064,000
Aug 1951
($1.000)
c*tf (Guaranty Trust Co., New York, trustee.
oil trust sink fund gold bds| 1914
6 g A-0
942,000
Apr 1 1934
$1,000,000 ($1,000)
c*(Guaranty Trust Co., New York, trustee.
Stock.—Dlvs.
after.
years
on
pref. 6% per annum until June 30 1917 and 7%
Cumulative from June 30
after its issue.
Pref. and
1914.
com.
Pref. stock is red. at
105
there¬
throe
have equal voting power.
Bonds.—Refunding mtge. bonds are callable at 105 and int.; sinking fund
of X% oer annum of outstanding bonds
began Nov. 1 1917; $858,000
are reserved to retire underlying bonds.
The mortgage was authorized
originally for $5,000,000, but was subsequently closed at $3,000,000.
The
L. & W. V. Rapid Transit Co. 5% bonds are secured by
deposit of $1,850,000 stock and $5,000,000 1st M. 5s, due 1951, of the Lack. & Wyom. Valley
RR. Co.
Under a supplemental indenture,, dated Nov. 1 1917. a sinking
fund of $15,000 per annum which began May 1918 was created and the
bonds were made subject to call at 105 and int.
$45,000 In sinking fund.
V. 105, p. 2094.
As of Oct. 1 1920 all but about $24,000 of the bonds
had been stamped bv the trustee with the callable feature skg.i fd. agreement.
V.. 05, p. 2455.
The coll. trust 6s of 1914 are red. at any int. period at 100
and accrued int.
Sinking fund (cumulative) of 1 % of outstanding bonds
annually from March 1 1916 to March 1 1933.
These bonds are secured by
the same collateral as the first and refunding mortgage.
V. 98, p. 1246.
Dividends.—6% was paid on preferred stock from July 1913 to an incl
April 1917. In July 1917 began paying 7% and same rate has been paid
regularlv since.
EARNINGS.—Years ending Dec. 31:
Cal.
Operating Other Inc. Exp.&
Bond
Pref.
Balance,
Year—Income.
(Hold.Co.). Taxes.
Interest.
Divs.
Surplus.
1919 —$412,819
$214
$9,865
$208,750
$55,738
$138,680
1918--- 310,243
461
7,472
209,500
53.025/)
40,707
1917--- 305,489
626
5.869
210,000
46.846/
43,399
ROAD.—Lackawanna & Wyom. Vail. RR. operates 22.75 miles of first
track, 20.74 miles of second track and 8.61 miles of yard track and sidings.
Standard steam construction, private
A standard-gauge tunnel, about 5,000 feet long, was com¬
This removed the only heavy grade od
the line between Scranton and Wilkes-Barre.
27 passenger, 72 freight cars,
Double track, laid with 90-lb. rail.
right of way.
pleted in Scranton in Oct. 1905.
railway busi¬
ness in Hanover, Gettysburg, DuBois,
Montrose, Susquehanna, New Milford and other communities in York. Adams, Susquehanna and Clearfield
countias. Pa.
The properties are operated by the United Service Co.
Brooks & Co., Scranton, in Dec. 1916 offered the unsold
portion of the
$1,225,000 1st & consol. 5s at 913^ and int., with 50% allotment of stock.
V. 103. p. 2341.
STOCK AND BONDS—
Date.
Stock $5,000,000 ($50)
1st & consol M $7,500,000 gl 1916
($200, $500 and $1,000)-c*fInterest
Interest.
5
Outstanding.
Maturity.
$1,500,000
1,225.000 Nov 1 1941
g F-A
at
Scranton
Trust
Co..
trustee.
Bonds.—Secured by pledge of the capital stocks, contracts and other
securities of the underlying cos.; alsd by lien on other
property of the co.,
incl. impts. to be made shortly with part of the
proceeds of present issue.
Sufficient bonds reserved to retire certain underlying iiens which in
amount
are less than the
present Issue.
No bonds to be issued for more than
of total
erties
87 H %
expenditures,
are
nor unless annual net earnings of the combined prop¬
1^ times the interest charge, incl. bonds to be issued.
Red. at
102 H and int. in whole
or
part to Nov. 11931 and at 105 and Int. thereafter.
PROPERTY.—System Includes 4 electric generating stations (aggregat¬
ing 8,600 h. p. capacity);
pacity 600 h.
p.;
a
hydro-electric system at Susquehanna, Pa.,
ca¬
75 miles of high-tension transmission lines, connected with
local distributing lines; 20 miles of street
railway trackage, cars. &c.
OFFICERS.—Pres., Frederick J. Piatt; V.-P., E. J. Lynett.—V. 103,
p.
2341.
SEATTLE, WASH.
$2,500,000
6 A-0
1,000,000 Oct '07. 3%
mtge $3,500,000 gold/ 1902
5 g J-J
2,147,000
Jan 1 1952
($1,000 and $500)
c*.tf(Int. at American Trust Co., Boston, trustee
8av Thun & Isle of H 1st
Mf 1897
4 Q-J
1,000,000 July 1 1947
g
KEYSTONE UTILITIES CO.—A holding company.
ORGANIZATION.—Incorp. in Del. Nov. 24 1916.
Controls the
Hanover Light, Heat & Power Co., Hanover & McSherrystown St.
Ry. Co.
(see this |co.), Gettysburg Electric Co., DuBois Electric Co., DuBois Trac¬
tion Co. (see this co.), Susquehanna County Light & Power Co.
' Maturity
cons
Sav Power
OFFICERS.—Pres.. Wm. O. Sproul: Chairman Exec. Comm., Frank R.
Ford; V.-P., W. H. Lippincott; V.-P. & Sec., S. C. Stivers; Treas., F. W.
Potts.—V. 98, p. 1158, 1246, 1539; V. 101, p. 1190; V. 105, p. 910, 1309,
2094.
On
Aug. 1 1920 higher rates for light and power were put into effect. V. Ill,
p. 190.
1st
4 motor express cars, 1 motor work car and 2 electric
freight locomotives.
Freight and passenger business is exchanged with all railroads entering the
terminal cities.
In Georgia in Dec.
1901 as a consoll
Suburban Ry„ the Savannah Thunderbolt & Isle of
Hope Ry., Savannah & Isle of Hope Ry. and the Edison Electric Illuminat
Does the entire street railway and the
greater part of the electriclighting and power business of the city.
The Savannah Power Co. wat
*n Georgia
May 3 1912 (capital stock authorized and Issued
$1,000,000), and has built a power station with 13,400 h. p. capacity which
is operated under lease
by the Savannah Electric Co. and the latter guaran¬
tees the bonds and notes Issued
by the Power Co.
V. 95. p. 1040.
Fran¬
chises for both street
railways and electric-lighting plant are perpetual
elation of the City &
139
These companies do the electric light, power and
part street
was ap-
application of the General Electric Co.,
holder of a claim of $3,807 for electrical
equip, and supplies; the co. being
in a position
in which it was unable to
pay its indebtedness or to pay int.
on its bonds due Jan.
1, or to borrow additional money necessary for exts.
and impts."
V. 109, p. 2440.
Committee for Is* Consol. Mtge.
5s.—Chairman, Charles Francis Adams:
Stedman But trick, George C.
Lee, Secy., Elbert A. Harvey, 44 State St.,
Boston, Mass.
Depository: Commonwealth Trust Co., Boston, Mass.
Deposits have been called for.
V. 109, p. 2440.
on
ORGANIZATION.—Incorporated
RAILWAYS
PUGET SOUND
POWER &
LIGHT CO.
ORGANIZATION.—Was formerly known as the Puget Sound Traction,
Light & Power Co.
Name changed to present title early in 1920.
In.orp.
Jan. 2 1912 in Maine per plan in V. 94, p. 124
(re-incorp. in Mass. on July 9
1912), and has purchased and consolidated the properties formerly owned
by the Seattle Electric Co., Pacific Coast Power Co., Puget Sound Power
Co., Seattle-Tacoma Power Co. and Whatcom County Ry. & Lt. Co.
Also
owns most of the stock of the
Puget Sound Electric Ry., the Pacific Traction
Co., Western Washington Power Co., Diamond Ice & Storage Co., and all
the capital stock of tne Pacific Northwest Trac.
Co., which in turn owns
the capital stock of the Pugot Sound International Ry. & Power
Co., lessee
of Everett Ry., Light & Water Co.
Through ownership or control, does
the greater part of the commercial electric
lighting and power business
outside of the city of Seattle, does substantially all the electric street and
interurban railway business in the Puget Sound district,
including the cities
of Seattle, Tacoma, Bellingham and Everett. Estimated
population 600,000.
Serves 6 counties and 147 communities between the Canadian
boundary and
Olympia.with light and power.
Directly, or through its subsidiaries, it
and operates 4 water-power plants and 5 steam
power plants, with a
electric generating capacity of 160,000 h.p.
Also owns or controls
additional undeveloped water power sites with a capacity of more than
100,000 h.p.
Operates the street railways in Bellingham and, through its
subsidiaries, in Tacoma and Everett, also the interurban electric railroads
between Tacoma and Seattle, between Seattle and Renton, between Ta¬
coma and Puyallup, between Everett and
Seattle, between Everett and
Snohomish, and between Bellingham, Mount Vernon and Sedro-Woolley,
a total of over 286 miles of
track,
Does the entire gas business of Belling¬
ham and the entire steam heat distributing business of Seattle.
Principal franchises expire as follows:
In Seattle electric lighting and
power, 1952.
In Tacoma, railway, 1939; power, 1930.
In Bellingham,
railway, 1941 (minor railway, 1934); light and power, 1940; gas, 1941.
In
Everett, railway, in 1944 and 1950; electric light and power, in 1950;
interurbans chiefly on private right of way.
Sale of Water Plant to City.—On Aug. 10 1916 the city of Everett took
over the water plant of the Everett Ry., Lt. & Water Co. for
$994,000.
Proceeds were used to take up the $500,000 Everett Water Co. 1st 5s,
due 1921, and $497,000 of the $675,000 Everett Ry., Lt. & Water Co. 1st
M. 5s, due April 1 1925.
Sale of City Railway System to Seattle.—In April 1919 $15,000,000 5%
utility bonds of the city of Seattle were delivered to the co. and the co.'s
street railway property, within tne city limits, was conveyed to the city
which now owns and operates same.
The bonds have been deposited with
the trustees of the mortgages securing certain of the co.'s bonds and notes
in substitution for the property sold.
They are a charge upon the gross
earnings of the entire railway system of the city, superior to all charges
except interest and amortization of some $650,000 of prior bonds of a like
character. V. 108, p. 1391, 2630; V. 109, p. 371; V. 110, p. 971.
owns
total
STOCK AND BONDS—
Dale.
5-year
and
Puget
3-yr
000
Interest.
Outstanding.
$20,112,025
Maturity.]
See text'
14,793,6f<6 Oct'20.^%
gold notes ($100, $500
1920
1,000,000 Sept 1 1925
$1,000)
c*tf/Dexter, Horton Tr. & Sav. Bk., Trustee.
Sd Trac, Lt & Power
1918
7 g J-D
13,885,000 June 1 1921
M gold notes $20,000,-[Old Colony Trust Co., Boston, trustee.
Common $25,000,000 ($100)
Pf $15,000,000 6% cum ($100)
($500 &
Q-J 15
Q-J 15
8 M-S
$1,000)__e*tfj
Pacific Coast Power 1st
ratge| 1910
5 M-S
3,990,000 Mar. 1 1940
($1,000) [Int. at Harris Tr. & S. Bk., Chic., trus., or at
|
Harris, Forbes & Co., Inc., N. Y. or Bost.
Seattle Elec Co 1st M $5,000.-)
1900
5 g F-A
3,445,000 Feb. 1 1930
000 ($1,000) gold.__c*ntf/Int. at Boston Safe Dep. & Tr. Co., trustee,
do
cons & ref $25,000.0001
1907
5 g F-A
5,511,000 Aug
11929
~~($1.000) gold
__c*&rtf lint, at Old Colony Tr. Co., Boston, trustee.
Seattle Ry 1st M $500,000 gl 1901
5 g M-N
335.000 Nov 1 1921
($1,000) guar p & i,
c*t.f flnt. at Boston Safe Dep. & Tr. Co., Bos., tr.
Pug Sd Pow 1st M $4,000,0001 1903
5 g J-D
2,789,000 June 1 1933
gold ($1,000) guar
c*tf flnt. at Old Colony Trust Co., Boston, trust.
Seattle-Everett mtge $5,000,-1 1909
5 M-S
2,823,000 Mar 11939
000 g ($1,000, &c.)__c*&rtf flnt. at Old Colony Trust Co.. Boston, trustee
Everett Ry. Lt & W 1st Ml 1905
5 g A-O
160,000 April 1 1925
$2,000,000 g ($1.000)__ctf/Int. at Bankers Trust Co., N. Y., trustee,
do
cons M $4,000.0001
1909
5 F-A
See text
Feb
1 1941
gold___
_c*&r/Int. at American Trust Co., Boston, trustee
Everett Ry & Electric first/ 1901
5 g A-O
825,000 April 1 1921
mortgage
$1,000,000 gold)Int. at Bankers Trust Co., N. Y., trustee
($1,000)
(closed)
tf I
No sinking fund and not subject to call
Pug Sd El 1st. cons M $5,500.-/ 1903
5 g F-A
3,327,000 Feb 1 1932
000 gold ($1,000)
c*tf(Int. at Old Colony Trust Co., Boston, trustee
do cons&ref M $15,000,000 1911
See text,
Tacoma Ry&P 1st M g ($l.-f 1899
5 g A-O
1,236,000 April 1 1929
000)$1.500,000 not redc*ntflint, at Old Colony Tr. Co., Boston, trustee
Pacific Tract, 1st M $5,000,-f 1907
5 g .T-T
See text
July 1 1927
000 gold ($1,000)
e*Unt. at Old Colony Tr. Co.. Boston, trustee
Whatcom Co Ry & Lt 1st Mf 1905
5 g M-N
1,373,000 Nov 1 19°$2,500,000 gold ($1,000) tf (Int. at Old Colony Tr. Co.. Boston, tru'tee
Notes payable. July 31 1920-2.333,055
$10,000,000
gold
c*&r (closed mortgage)
-
-
STOCK.—In addition to the amounts of com. and "pref. stock reported
outstanding above, there are non-interest-bearing receipts for $16,220 com.
stock exchangeable at par for stock certificates.
Pref. stock is redeemable
at 125.
$1,466,800 com. stock is owned by Public Service Inv. Co.
Both
classes of stock
are
non-taxable in
Massachusetts.
'Notes.—The 5-yr. 8% notes are red. as a whole on any int. date on 40
days' notice at 104 in 1921; 103 in 1922, 102 in 1923, 101 in 1924 and 100H
thereafter up to Mar. 1 1925.
Of the remaining Puget Sd. Trac., Lt. &
Power Co. 3-yr. notes $5,399,000 can be issued only for $75% of the cost of
additional property and exteasions and only under certain restrictions.
By
terms of mtge. no additional underlying bonds may be issued during the life
of these notes.
An annual sinking fund of 1H%
of notes outstanding
during the years of 1919 and 1920 is provided for, callable all or in part on
any int. date upon 30 days' notice at 102 and int. during 1918. at 101 and
int. in 1919 and at 100 and int. in 1920.
$206,000 in sinking fund canceled.
,
ELECTRIC
130
$510,000 held In treasury.
Interest
Chicago.
V. 106. p. 2560, 2650.
Seattle Electric
[Vol. Ill
RAILWAYS
Is payable in New York, Boston and
^
Co.—Sinking Fund.—On 1st M,, 1% of bonds outstanding;
$1,555,000 bonds were held by the trustees not canceled July 31 1920; pli¬
able as a whole or in part for sk. fund on any int. date at 110 and int.
The
consol. & ref. M. bonds an be called in amounts not less than $500,000,
and in smaller amounts for sk. fund purposes at 105 and int. on any int. daw
Skg. fund of 1% per ann. started Oct. 1 1909; $901,000 of the bonds were held
by trustee for s. f. July 31 1920. $1,344,000 are canceled and $7,084,000 re¬
served to retire underlying bonds, V. 85, p. 222; V. 92, p. 189.
Both
mortgages are closed,
Ry. bonds have a sk. fd. of 1% of bonds certified; $32,000 have
held in sk. fd. not canceled. Bonds can be
whole (or in part for sk. fd.
at 110 and int. on any int. day.
Paget Sound Power Co,—Mortgage is closed.
Both prin. and int., as well
as sk. fund payments, are guar. by the Seattle Electric Co
Can be exchanged
for Seattle Electric consol. and ref 5% bonds, par for par. A sk. fd. of 1%
per ann. of bonds outstanding commenced Mar. 1 1906; $513,000 have been
canceled. Subject to call as a whole (or in part for sk. fd.
at 110 and
int. on any int. day.
Seattle-Everett bonds are a direct obligation of the Seattle Elec. Co., but
Pacific Northwest Traction Co. has agreed to pay prin., int. and sinking
fund paymehts on these bonds, and has mortgaged its entire property as
security.
They are additionally secured by the pledge of the entire issue
($200,000) of stock of the Puget Sound International Ky. & Power Co. and
$500,000 consol. mtge. bonds of the Everett Ry., Light & Water Co.
The
mortgage is closed.
A sinking fund of 1% on amount of bonds out began
Mar. 1 1914.
$277,000 not incl in amount reported outstanding is held in
sinking fund uncanceled.
Bonds are callable as a whole or in part for s. f.
at 105 and int.
See V. 88, p. 1062; V. 92, p. 1244.
Everett Ry., LI. cfe Water Co.—Of the $2,000,000 M , $825,000 are. re¬
served to retire prior liens.
$675,000 were issued but $504,000 were retired
in 1916 through balance of proceeds from sale of water plant to city of
Everett.
$11,000 additional have since been canceled.
Mortgage closed,
except for refunding.
No skg. fund, but bonds subject to call on any int.
date upon 60 days' notice at 107and int. , Of the $4,000,000 consol
M.
$985,000 is reserved for prior liens, $454,000 owned by Puget Sound Inter¬
national Ry. & Power, $480,000 owned by Pacific Northwest Traction Co.,
$40,000 is in sink, fund canceled and $2,041,000 are unissued.
Callable as
a whole (or in part for sk. fd.
at par and int. on any int. day.
Sink. fd. of
1% per annum of bonds out began May 1 1914. V. 88, p 1061.
Puget Sound Electric Ry.—Of the 1st consol. M., $1,236,000 are reserved to
retire a like amount of Tacoma Ry. & Power Co. bonds and $937,000 have
been canceled.
Callable as a whole on any int. date at 110 and int.
A
skg. fd. of 1% of bonds certified, plus 5% per ann. on bonds purch. for sk. fd.
began Jan. 1 1907.
Sufficient of consol. and ref. bonds are reserved for un¬
derlying bonds, the remainder is issuable at 80% of cost for add'ns & irapts.
Tacoma Railway & Power Co.—$264,000 are held by Puget Sound Electric
Co.
Are not subject to call.
Outstanding.
Interest.
Date.
STOCK AND BONDS—
$700,000-
"
261.850
Tef $300,000 6% non-cum
Vew mortgage
Maturity.
®529'Z5R
lommon
J 1906
$600.000
5%
415,000
■
1'936
\Penn, Co. for Ins, on L. & G. A.. Phila., trus.
31 1919, gross, $197,339; net. after
In 1918, gross, $216,579; net, after taxes, $55,415.
ROAD.—Operates 19.5 miles of track between Ashland and Shamokin.
OFFICERS.—Pres.. E. W. Samuel. Mt. Carrnel. Pa.; Sec.. J. D. McOormill: Treas., Wm. Keefer, Mt, Carmel; Supt., A. Howard Thomas,
Shamokin.—V. 105. p. 2457; V. 106. p. 2650.
EARNINGS.—For year ending Dec.
taxes, $70,651.
Seattle
been canceled and $133,000 are
called
Pacific Traction Co.—$500,000 were issued to retire a like amount of old
bonds; entire $500,000 now in treas.
Remaining bonds reserved
improvements, under restrictions.
Subject to call
at 105 and int. at any time.
Sk. fd. of 1 % of bonds outstanding began
Jan. 1 1914. Bonds are guar. p. i. & sink, fund by Puget Sd. El. Ry.
Whatcom County Ry. & Light Co.—Callable as a whole on any int. date
at 105 and int.
Sk. fd. of 1 % per ann. of bonds outstanding, if earned, com¬
menced Nov. 1 1906; on Nov. 1 1911 became obligatory.
$391,000 bonds
have been canceled of which $246,000 by sk. fd.
Mortgage is closed.
Dividends.—On pref. 1^1% quar. from organization to April 1915.
In
July 1915 paid only %%; same rate quar. to and incl. Oct. 1920.
On com. first div,—1%—paid April 1912; July, 1%; Oct., 1%.
In
1913 4%.
In 1914 Jan., 1%; April 1%; July, 1%.
October,dividend
passed (V. 99, p. 895) and none paid since.
First M.
for future additions and
EARNINGS.—For year ending Dec. 31:
Year—
Gross.
Net afI Tax
Other Inc.
.
Bal Sur,
Interest,&c.
$9,770,666 $3,285,964
y$562,500 $2,498,667 $1,349,797
1918
-.11,774,780
3,974,409
2,422,552
1,551,857
x These figures exclude earnings, expenses and taxes of the Seattle Ry.
system for the last 9 mos. of 1919, the system having been sold to the city
X1919
of Seattle
Mar. 31
on
1919.
Also pur¬
(Bellingham Division) from Western Canada Power Co.;
street and interurban railways 286 miles equivalent single track.
Gauge
PROPERTY.—Power stations have 160,000 h. p. capacity.
electric, standard; cable, 3 ft. 6 in. and 3 ft.
OFFICERS.—Chairman
Board,
of
Frederick
S.
Pratt;
Pres.,
A.
W.
Leonard; V.-P., W. II. McGrath; Clerk, William T. Crawford; Sec., James
B. Howe, Seattle; Treas., Henry B. Sawyer; Gen. Mgrs., Stone & Webster
Mgt. Assn.—V. 110, p. 1296; V. Ill, p. 1183.
VALLEY RY.
SEATTLE & RAINIER
Possible Purchase by City.—For terms upon which co.
to sell its street
would be willing
railway property to the city of Seattle see this section of
April 24 1920.
ORGANIZATION.—Incorp. in Del. on June 8 1916 as successor to the
in at foreclosure sale on
May 12 1916 by Attorney John C. Higgins, representing the bondholder*
(there were $825,000 1st 5s outstanding) and common claimants under the
plan of reorganization. V. 102, p. 2078.
In Apr. 1917 reached a settlement with city over franchise difficulties
and co. was awarded a judgment of $41,700 against city because of changes
la grades on Rainier Ave., &c.
Fares.—On May 23 1919 was auth. by the Wash. P. U. Comm. to in¬
crease fares in Seattle from 5 to 6 cents with a 2-cent charge for transfers,
effective June 1 1919.
V. 108, p. 2331.
Compare Y. 108, p. 1276.
Effec¬
tive June 12 1920 fares were raised to 7 cents.
The charge on the municipal
lines being increased to 10 cents, the co. in July 1920 filed a new tariff
raising fares on its lines to 10 cents; with 15 metal tokens for $1.,
V. Ill,
p. 74.
This rate became effective July 20 1920.
V. Ill, p. 793.
Has $250,000 com. stock and $110,000 pref. stock (par $100) auth. and
outstanding.
Also has outstanding $418,000 6% 1st M. bonds, $577,500
5% Gen. M. bonds and $400,000 6% Income M. bonds.
Seattle Renton & Southern Ry., which was bid
,
EARNINGS.—For
$98*267.
ending Dec.
year
31
1919,
gross,
$426,206;
net,
In 1918, gross, $350,127; net, $86,959.
ROAD.—24.863
Gen. Mgr., Walter Brown; Treas., Edgar W. Peck; Sec., Henry M. Brooks.
—V. 108, p. 380, 785, 1276, 2331; V. 110, p. 79, 1291; V. Ill, p. 74, 793.
selma, ala.
Sale.—In
TRACTION
COMPANY.
May 1919 it
reported that the co.'s road had been sold
Ry., of which D. L. Gerouidr,^War¬
No further information.
was
under foreclosure to the Selma Electric
ren,
Pa., is President.
V.
108, p. 2242.
ORGANIZATION.—Organized in Mar. 1918 to take over and operate
the properties of the Selma Street & Suburban Ry., sold at foreclosure
March 14 1918.
STOCK AND BONDS.—
Date.
Common $10,000 ($100).
First mtge $50,000 ($1,000)7
Interest.
Outstanding.
Maturity.
None
1918
5
g
M-S 15
$50,000 Mar
14 1948
c*&r\D. L. Gerould, Trustee.
$25,000 ($1,000) / 1918
5 g M-S 15
25.000 Mar 14 1938
gold
c*&r\C. B. Ayers, Trustee.
Bonds.—Have no sinking fund provision and are not subject to call.
gold
Second mtge
''
ROAD.—Operates
a
little
over
8 miles of track in and around Selma,
Standard gauge.
laid with 40, 56 and 116-lb. T rail.
OFFICERS.—Pres.
Mallory.—V. 106,
Stock $500,000 ($100)..
Pirst
mortgage
$1,000,000/ 1906
p.
& Gen. Mgr., J. D. Woodard; Sec.-Treas., Hugh
1462; V. 108, p. 2242.
&
MT.
consolidation In July 1906 of the Shamokin &
Mt. Oarmel Electric Ry. and the Ashland & Oentralla Electric Ry.
V. 83.
a
273.
Fare Increase.—On
with
no
$500,000
------
5 g J-D
300.000
1926
c*\lnt. at Equitable Trust Co., N. Y., trustee.
Bonds.—Can be called in 1916 at lOo.
No sinking fund.
<
EARNINGS.—For 12 mos. ending Dec. 31 1917, gross, $51,645; net,
19,414.
In 1916, gross. $49,918; net, after taxes, $1,798.
ROAD.—Operates 12 miles of track in Shawnee and between Shawnee and
Tecumseh.
Standard gauge.
60 and 70-lb. T rail.
OFFICERS.—Pres. & Treas.. Louis K. Hyde;
Sec.. W. M. Cutlip;
Mgr.. R. D. Long.
_
sheboygan,
wis.
EASTERN WISCONSIN ELECTRIC CO.
ORGANIZATION.—Incorp. Feb. 21 1917 to take over the properties
of the Sheboygan Electric Co.. the Eastern Wisconsin Ry. & Light Co and
ohe Wisconsin Electric Ry. (See "Elec. Ry." Section for Jan. 1917).
Own-,
and operates the electric-lighting, power and street railway systems in She¬
boygan and Fond du Lac, gas in Fond du Lac, street railway in Oshkosh
and about 70 miles of Interurban lines connecting Sheboygan and Elkhan
Lake, Fond du Lac and Oshkosh. Oshkosh and Neenah, and Oshkosh and
Omro.
Power is also sold in Plymouth. Elkhart Lake and Sheboygan
Falls.
Franchises.—Operates under indeterminate permits as provided
by Wise. P. U. Law, and is thus protected from competition.
Fare Increases.—In April 1918 was auth. by the Wisconsin RR. Comm.
to eliminate all fares of less than 5 cents, and in Aug.
1918 a general in¬
crease
in interurban fares was granted.
In Sept. 1918 the ticket rate
between Sheboygan and Elkhart Lake was increased from 1.9 to 2.9 cents
per mile.
V. 107, p. 1100.
On Aug. 10 1919 was auth. by the Wis. RR.
Comm. to increase cash fares on the Oshkosh City line to 7 cents, 6 tickets
to be sold for 35 cents and 50-tioket books for $2 50. V. 109, p. 981
Rate Increase.—Was auth. by the Wise. RR. Comm. to make a surcharge
?f M cent1918 k. w. h. on all lighting and power business, effective Maycu. 18.
per was auth. to increase gas rates 27)^ cents per 1,000 1' ft.
Aug.
n
Outstanding.
Maturity.
$700,000
Q-M
1.200,000 Sept 20 \%
1st & ref M $20,000,000 gl 1917
5 g M-S
1,092.500 Mar 1 194V
($500 & $l,000)c*
[ Interest payable in Milwaukee or N
V
Gen M notes, Ser "A", ($100,V 1920
M-S 7
1.200.000 Mar 1 1923
$500 & $1,000) gold.c*tf--/Int. at Cont'l. & Comm. Tr.& S.Bk.,Chic.
Underlying Liens—
Fond du Lac
t Ry & L mtge\
1899
5 g J-J
133.500 July 11924
$250,000 ($500) g.r&c*ntf/
Int. at Nat. Exch. Bank. Milwaukee.
East Wise Ry & Lt 1st M gl
1903
5 g A-O
1,182,000 Oct
1 1923
($1,000)
c*tf j Int. at First Sav. & Tr. Co.. Milw., Trustee
Sheboygan Elec ref &imptM,| 1916
5 g J-J
1.572,500 July 11946
g ($1,000 & $500)
c*tfl Interest payable in Milwaukee or N. Y.
Sheb Ry & Electric
5%
101.500
1926
STOCK AND BONDS—
Date.
Interest.
Common stock, $2,000,000
Pref stock. 7%. $5.000,000
BONDS.—$2,989,500 East. Wise. Elec. Co. 1st & ref. M. 5% bonds are
prior liens.
Additional bonds may be issued for 75% of
reserved to retire
permanent additions and improvements under conservative
Callable at 105 and int. on Mar. 1 1922 or any int. date there¬
Sinking fund : 1% per ann. of bonds outstanding in 1922 to 1931:
1
1932 to 1941: 2% 1942 to 1946; to be used for retirement of bonds or
for exts. and addns. against which no additional bonds may be issued.
Trustee, Wisconsin Trust Co.. Milwaukee.
V. 104, p. 1145.
The Eastern Wise. Ry. & Lt. Co. 1st 5s are red. on any int. date at 103
and int. on 6 months' notice.
The Sheboygan Elec. ref & Impt. 5s are
callable at 105 and int. on July 1 1921 or any Inn. date thereafter.
Sinking
fund 1% per ann. of bonds outstanding from 1920 to 1930; 1 lA% 1931 to
1940; 2% 1941 to 1945: to be used for retirement of bonds or for extensions
and additions.
Trustee, Wisconsin Trust Co., Milwaukee.
restrictions.
after.
Notes.—The 3-year 7% notes due Mar. 1 1923 are secured by a general
mortgage on the entire property.
Additional notes may be issued under
certain "restrictions.
Red. all or in part on any interest date upon 4 weeks'
notice at 100 and int.
V. 110, p. 1186, 12S9.
Dividends.—Divs.
on
pref. stock
EARNINGS.—Combined
months
were
statement
begun in June 1917.
companies for
of consolidated
12
ending Jan. 31 1920, gross, $1,228,419: net, after maint. & taxes,
$463,797; int. charges, $288,000; bal., surplus, $175,797.
PROPERTY.—Gas plant and 42 miles of gas mains in Fond du Lac,
system and 3 electric-generating plants, combined
capacity of 6,500 h. p. in Sheboygan, Fond du Lac and Osnkosh; street rail¬
way and interurbaq lines over 100 miles of single track.
The greater part
of the interurban lines Is laid chiefly with 70-lb. T rails, and with the excep¬
tion of that portion from Oshkosh to Neenah and within city limits is located
on private right of way.
Additional 5,000 k.w. steam turbine unit is to be
installed, and high-tension transmission lines will be built immediately.
Also hydro-electric power sites on the Wisconsin and Wolf Rivers capable
of estimated development of over 20,000 h.p.
A gas plant at Fond du Lac
with a 500,000 cu. ft. holder was placed in operation in 1918.
OFFICERS.—Pres., Joseph II. Brewer; V.-P., 11. R. Eliis; Treas.,
Willis J. Ripley; Sec., Blaine Gavett.
Under management of Kelsey,
Brewer & Co.. Grand Rapids. Mich—V. 104. p. 1145; V. 106, p. 924, 1688.
2122; V. 107, p. 1100, 1192; V. 109, p. 981; V. 110, p. 1186, 1289.
electric-distribution
shreveport, la.
SHREVEPORT RAILWAYS CO.
ORGANIZATION.—Successor of the Shreveport Traction Co., the franproperties of which company were purchased in July 1914 by the
Shreveport Railways Co.
Shreveport Trac. Co., in turn, succeeded the
Shreveport Belt Ry. Co. and Shreveport City RR., chartered in 1870, and
purchased the Highland Park Trac. Co. and the Shreveport City Suburban
Ry.
Owns and operates entire street railway system in city of Shreveport.
Franchises.—In 1912 all franchises of the company were extended until
1954.
All franchises are free from burdensome restrictions.
cnises and
Fare Increase.—At
Sept. 26 1919 the
opposition.
company
raised fares to 7 cents
a
referendum election held May 18 1920 the co. was
1923.
auth. to raise fares from 5 to 6 cents effective June 1 1920 to Dec. 31
V.110, p. 2293.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Stock $2.000,000
1st M ser gold bds $3,000,000/
Maturity.
$1,000,000
1914
5 g J-J
765,000
See text
($100, $500 & $1,000) c*tfUnt. at Hibernia Bk. & Tr. Co., N. O.. trust.
Bonds —Redeemable at 103 and interest.
The $800,000 bonds issued
mature
in
annual
installments
as
follows
(par
value
$1,000,
ex¬
cept for $50,000 of $500 bonds and $20,000 of $100 bonds due in 1944)$10,000 1918 and 1919; $15,000 1920 and 1921; $20,000 1922 to. 1927;
$25,000 1928 to 1932; $30,000 1933 to 1937; $25,000 1938 to 1942; $20,000
_
1943; $210,000 1944.
The remaining $2,200,000 will fall due annually as
(par $1,000 except $100,000 of $500 bonds and $80,000 of $100
1944); $5,000 1925 to 1937: $15,000 1938 to 1942; $20,000
1943, and $2,040,000 in 1944.
$35,000 redeemed to Oct. 1 1920.
These
remaining $2,200,000 bonds may be certified and issued from fcim* to time
follows
bonds due in
improvements, extensions,
REPORT.—For
CARMEL TRANSIT CO.
ORGANIZATION.—Is
p.
1906.
Maturity.
($1,000) gold
for
shamokin, pa.
SHAMOKIN
_
13
Outstanding.
Interest.
Date.
STOCK AND BONDS—
„
Feb,
miles
of track, from Seattle via Columbia City
and
Dunlap to Renton. ' Rails, 60. 70 and 75-lb. T.
Standard gauge.
34
passenger cars, 19 freight cars and 1 locomotive.
OFFICERS.—Pres., Marshall E. Sampseli, Chicago; V.-P., E. M. Mills;
SELMA
SHAWNEE-TECUMSEH TRACTION CO.
ORGANIZATION.—Incorporated
In Oklahoma on
franchises are perpetual and exclusive for 25 years.
the actual cost of
chases power
okla.
shawnee,
as a
Year—
-
&c.f
under
certain
ending Dec. 31:
Gross.
1919—
1918
years
additions,
$447,555
322,775
Net.
$152,471
102,320
restrictions
ii
Interest.
$44,570
45,866
Surplus.
$107,901
56,454
ROAD. &c.—Operates about 32 miles of track; 60. 70 and 80-lb. rail.
operates its own power plant.
15 single truck and 24 double
truck passenger cars: 1 work car and 2 miseel. cars.—V. 110, p. 2293.
Owns and
OfiT., 1920. |
ELECTRIC RAILWAYS
SIOUX
SIOUX
CITY
CITY. IOWA.
SPARTANBURG, S.
SERVICE CO.
SOUTH
'150A1N7,7';"ION, &0.—Incorporated
1909 increased
on June 7 1905 In New Jersey
capital from $250,000 to $2,000,000, in order to
acquire stock of Sioux City Traction Co.
V. 88, p. 1129.
Franchises of the
Sioux City St. Ry. (succeeded by Sioux
City Traction) run for 50 years from
1889; other franchises run for 25 years from 1908.
These latter are on the
terms of 5-cent fares with transfers and
2% of gross earnings after the city
has a population of 75.000.
Operates all street railway lines in Sioux City, and sells electricity and
.
In March
heat for
steam
commercial
purposes.
In July 1919 the
company issued 1st A: ref. (now first) mtge. 5s, *750.000,
being used to retire a like amount of Sioux City Traction 1st
mtge. 5s, and
the remainder to reimburse the
company for improvements and betterments
already made.
V. 109, p. 73.
Fare Increase.—The people of Sioux City
having voted in favor of higher
fares, the co. on Sept. 7 1920 put into effect a 6-cent fare to continue for
3 years.
V. Ill, p. 1084.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock$2,000,000 ($100)
$2,000,000
First & ref mtge $5,000,0001 1910
5 J-J
2,141,000
Jan 1 1928
($1,000) gold
c*tflIlliuois Trust & Sav. Bank, Chicago, trustee
—
Bonds.—$2,629,000
are for additions and improvements at 75% of cost,
have been retired.
Red. at 105 and int. on any int. date
four weeks* notice.
Sinking fund began in 1913, which by 1928 will
aggregate $1.200,000.
Interest payable in New York and Chicago.
V. 90,
p. 1555; V. 109, p. 73.
and $230,000
upon
Latest Earnings.—For cal. year 1919, gross,
$1,302,290; net, $332,303;
int., taxes, &c., $230,195; bal., surp., $102,108.
ROAD.—Operates
over 51 miles of track (of which 7 miles
60 and SO-lb, rails.
136 cars.
right of way).
private
on
OFFICERS —Pres.. Robt. J. Dunham- V.-P.
H. A. Chetham
Sec. &
Gen. Mgr., E. L. Kirk.—V. 109, p. 73;
V. Ill, p
1084.
SOUTH
•road.
,
as successor
perpetual in Mishawaka
Default—Committee —Upon the announcement by the co. that it would
be unable to pa*- the int. due July 1 1918 and that plans for a
reorganization
were under consideration the
following protective committee was formed;
preme
Court).
Franchises contain, it is stated,
30-Year 5s.—Chairman, Geo. C. Van Tuyl Jr.;
Taylor, Wm. H. Pritchard, Frank Coenen and
McNamara, Sec., 60 Wall St., N.Y. City.
Depositary: Metro¬
politan Trust Co., N. Y. City.
V. 107, p. 291.
The committee has called
for deposits of bonds and as of July 17 1918 issued a statement stating
considerable amount of bonds had already been deposited and urging
those who had not yet deposited to do so, especially in view of the fact
default nad also occurred in payment of interest upon underlying
that
V.
107, p. 603.
Up to Oct. 1 1920
announced.
no
plan of reorganization had
'
Fares.—On April 5 1919 was auth. by the Indiana P. S. Comm. to increase
passenger fares from 2lA to 2% cents per mile.
In Oct. 1920 was auth. to
raise fares to 3 cents per mile.
In Aug. 1920 the co. was auth. by the Ind.
P. S. Comm. to increase fares to 8 cents on its lines in East
Chicago.
V.
Ill, p. 791.
STOCK AND BONDS—
Date.
Interest.
Common
$5,000,000 ($100)
$2,500,000
5%
cum)
($100) after Jan 1 1909—J
New
Outstanding.
Maturity.
$5,000,000
2,500,000
Pref
000 additional notes
were
STUCK AND BONDS—
mtge $5,000,000/ 1907
5 g J-J
2,489.000 Jan 1 1937
($1,000)
tfllnt. at Central Trust Co., N. Y., trustee
Ry 1st cons M $4,-/ 1906
5 g J-J
588,000
Jan 1 1936
000,000 gold ($1.000)
tfllnt. at U. S. Mtge. & Trust Co., New York
Indiana Railway first mort-f 1901
5 g J-J
1,000,000
Jan 1 1936
gage $1,000,000 gold ($1,-/Girard Trust Co., Philadelphia, trustee.
000)
c*tf (Interest at Standard Trust Co., New York
La Porte V Michigan City Trf 1905
5 g J-J
312.500 July 1 193f
first mtge $350,000 ($500)
\ Interest at First Trust & Savings Bank
sinking fund subj to call_tf t
Chicago. Ill
Bonds.—On the Indiana Ry. 1st 5s a sinking fund of $10,000 per annum
began Jan. 1 1905; bonds to be bought in open market..
Are not subject to
call.
Northern Indiana 1st consols are subject to call.
See V. 82, p. 56*.
On the La Porte & Michigan City Traction Co. bonds a sinking fund of 1 °7,
per annum of bonds out Is operative from 1910 to 1914; from 1915 to ma¬
turity, 2% per annum.
Of the new first mortgage bonds, $491,000 are in
treasury, $1,900,500 are reserved to retire prior lions, and $118,500 for
Improvements.
The Indiana Ry. 2d M
5% bonds, due Aug. 1 1924, were called for pay¬
.
1
105 arid Interest.
1917 at
1919
1918-
$1,031,771
820,218
—
208,148
Interest.
$244,633
233,511
1
Deficit.
$4,568
58,314
ROAD.—Operates 125 miles of track in South Bend, Mishawaka, Elk¬
Michigan City and interurban lines between thosi
in.; 70 to 100-lb. T rail.
Owns 129 cars and
hart. Goshen, La Porte,
points.
Gauge, 4 ft. 8>4
11 sub-stations.
•
791.
SOUTHERN MICHIGAN RAILWAY.—A trolley road.
Is controlled by same interests as Chic. South Bend. & Northern Indiana.
Feb. 8 1906 as a consolidation of tin
South Bend & Southern Michigan Ry. and the Nilos & Buchanan Ry
Franchise in St. Joseph expires in 1935; in Berrien Springs In 1935; in NiW-f
in 1932, 1935 and 1936; in South Bend, perpetual.
ORGANIZATION.—Organized
on
Fares.—In Oct. 1920 was auth. to raise fares to 3 cents per
STOCK AND BONDS—
Stock $2,000.000
First consol mtge
gold
Interest.
First
mortgage sinking
$5,000,000 gold
1906
5 g
mile.
notes
1931
-.-tfllnt. at U. S. Mtge. & Trust Co., New York.
South Bend &
Sou
Michigan/ 1902
5 g A-O
750,000
Oct 1 1927
mtge $750,000 goidJInterest at Harris Trust & Savings Bank.
($1,000 guar p & i)--.c*tf I
Chicago, trustee.
first
Bonds.—Of the $1,980,000 consols, $760,000 are reserved for prior Hens
call
fund/
1912
o*tflNew
$750,000 ($1,-/
Bonds.—Additional bonds may be issued only for the acquisition of
property, extensions, &c., under conservative restrictions.
Of the amount
reported outstanding $482,000 Is held in the treasury.
Int. payable In
New
York and London.
Denotn. $1,000
(£205 9s. Nd.).
1% of bonds outstanding, to retire bonds
Red. at 105 and int.
Sinking fund of
for extensions and additions,
or
on
any
int. date.
V. 96, p. 136.
Notes.—Are red. all or in part on any int. date at 102 in 1920 and 101
until June 1921.
Interest is payable in New York.
Dividends.-—Dividends at the rate of 6% per annum on the pref. stock
have been paid regularly to and incl. July 1920.
Gross
Year—
Earnings.
$692,746
655,776
1918
•
Net (after
Taxes).
$228,770
316,807
Bond, Ac.,
Pref. Divs.
Balance,
(6%).
Interest.
$212,497
195,938
Surplus.
$420,00
def.$25,727
42,000
78,869
PROPERTY.—'-Owns and operates 21 miles of city and interurban street
railway; standard gauge.
65 and 70-lb. T rail.
21 cars.
Hydro-electric
plant has generating capacity of 14,000 h. p.
Auxiliary steam power plant,
4,500 h. p.
Gas plant has a capacity of 250,000 cubic feet daily.
OFFICERS.—Pres., P. G. Gossler, N. Y.; V.-P. & Gen. Mgr., G. B.
Tripp, Spartanburg; Sec. & Treas., J. J. Thames, Jr., N. Y.—V. 107, p.
1288,
1386;
V.
108,
p.
172.
SPOKANE, WASH.
SPOKANE
&
EASTERN
RY.
POWER
&
CO.
ORGANIZATION.—Incorporated in Washington
January
3
1920.
The property of the Spokane & Inland Empire RR. Company was pur¬
chased at foreclosure sale on November 1 1919, by George H. Taylor,
representing the bondholders' protective committee, named below.
(For
history of Spokane & Inland Empire RR. see "Electric Railway" Sup¬
plement of April 24 1920.)
Mr. Taylor then transferred the street ry. lines
and passenger and freight terminals in Spokane,the hydro-electric station
known as the Nine Mile Power Plant and the electrically equipped inter¬
urban line from Spokane to Coeur d'Alene City and Hayden Lake, Idaho
to the Spokane and Eastern
Ry. & Power Co., receiving in payment therefor
the entire outstanding capital stock of $3,000,000, the entire outstanding
and authorized issue of $3,000,000 First and gen. mtge. 5% 5-yr. gold bonds,
dated Feb. 1 1920 and the demand notes for $150,000 bearing int. at 8%.
These securities have all been transferred to the committee and
held
are
for Spokane A Inland Empire RR. 1st A Ref. M. 5s.—Chairman,
Albert W.
Harris; E. D. Alder, Chester A. Cook, Holmes Forsyth, Geo.
Taylor, John C. Partridge; Secy., Chester Corey, 202 Harris Trust
Bldg., Chicago, 111.
Depositary: First Trust & Savings Bank, Chicago,
III.
V. 109, p. 1367.
At last accounts $3,627,000 out of a total outstand¬
ing issue of $3,668,000 had been deposited.
Municipal lighting franchise in Spokane expires in 1946.
II.
STOCK AND
BONDS—
Interest.
Date.
Outstanding.
$3,000,000
Stock
1st mtge
bonds
($1,000)
-
_._$3,000,000/ Int. at 5 F-A 1Tr.&
1920
Harris
-c&rtf
1905
ipokane Trao 1st M $1,000,000 gold ($1,000)
c&rtf
O d'A & S 1st M $500,000 g
($100, $500 & $1,000)-c*tf
Terminal 1st mtge
Spokane
gold
$500,000
($500
$1,000)
and
c*tf
Maturity.
3,000,000 Feb. 1 1925
Sav. Bk., Chicago, trust.
6 g J-J
66,000
See text
Int. at Title Guar. & Trust Co.. N.
Y.f trus.
1903
5 g J-J
442,000 Jan. 1 1929
Int. at Title Guar. & Tr. Co.. N. Y., trustee
1905
5 g F-A
176,000 See text
Interest at First Trust & Sav. Bank, Chi¬
cago. trustee, or at
First Nat. Bank. Bost.
Bonds.—The Spokane Tr. Co. bonds are due $10,000 ann. from July 1910
to 1914 at 105 and int.; $15,000 ann. July 1915 to 1924 at 105 and int.;re-
maining $700,000 on July 1 1925 at par and int.
Bonds are subj. to call as
entirety at 105 and int. on 60 days' notice. V. 81, p. 841.
The Spokane
Terminal Co. bonds mature $12,500 on Aug. 1 from 1910 to 1929 incl. and
$100,000 on Aug. 1 1930.
The unissued bonds mature in 1930 and are
subject to call at 105 and int.
On the Coeur d'Alene & Spok. Ry. bonds a
Kink fd of 5% of net earnings Is provided. Bonds are subj. to call at 105&int.
These bonds
ROAD, &C.—The street ry. system includes
Has
passenger
are
62.837 miles of single track.
terminal and office building in Spokane.
The interurban
track.
urban
Equipment consists of 78 city passenger and 6 work
equipment;|3 locomotives, 22
passenger,
cars;
293 freight, 8 work
Inter¬
cars.
OFFICERS.—Pres. Geo. II. Taylor; V.-P., & Gen. Mgr., F. E. Connors;
V.-P., & Treas., Waldo G. Paine; Sec., Elmo Edwards; Asst. Sec. & Asst.
Treas., Chester Corey.
(1)
Inland Empire Railroad Co.
ORGANIZATION.—Incorp.
in
•
Wash.,
Jan.
3
1920.
The
property
of the Spokane & Inland Empire RR. Co. was purchased at foreclosure sale
on Nov. 1 1919, by George H. Taylor.
For history, see "Electric Railway"
Section for Apr. 24 1920.
Mr.Taylor then transferred the so-called Inland
Division to the Inland Empire RR. Co., receiving in payment therefore
outstanding capital stock of $1,000,000 and the entire outstanding
5% 5-yr. gold bonds, dated Feb. 1
and auth. Issue of $1,000,000 1st mtge.
Maturity
400,000 Mar 1
and $750,000 for betterments and extensions.
Outstanding.
Maturity.
$2,500,000
700,000 Jly *20, IH
Q-J
5 g M-N
3,979.000 May 1 1937
York Trust ( o., New York, trustee.
1918
7 g Q-M
650.000 June 1 1921
000) gold
c\New York Trust Co., New York, trustee,
.Stock.—Preferred stock is preferred as to assets and divs.
Ked. at any
time at 115 and accrued dividends.
Tax-exempt in Massachusetts.
3-year
the entire
Outstanding.
$2,000,000
'
-
$1,980,000/
($1,000)
Date.
Interest.
line to Coeur d'Alene City & Hayden Lake includes 77.697 miles of single
■
OFFICERS.—Pres.. Charles F. Dieterich, New York: 1st V.-P.. C. M.
Murdock, Lafayette; Treas., A. E. Dieterich; Sec., S. T. Murdock; V.-P.
& Gen. Mgr., R. R. Smith;
Gen. Aud., O. A. Small; Purchasing Agent,
R. E. Cornwell.—V. 84, p. 270; V. 107, p. 291, 603; V. 108, p. 378; V.
Ill, p.
purpose.
an
Taxes.
$31,909
32,950
$271,985
Date.
Common $3,500,000 ($100)
Pref 6% cum $1.500.000 < $100)
Committee
first
Feb.
same
....
gold
on
sold for the
Fare Increase.—In October, 1919, was auth. by the
city of Spartenburg
to increase fares from 5 to 7 cents.
•
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
Net.
Olh.lnc.
objectionable restric¬
for the benefit of the depositing bondholders.
—
Nor Ind
ment
no
run hevond Mav
l 1937 or are unlimited as to time
In Sept. 1918 Issued $450,000 3-year notes to
pay off floating Indebted¬
ness and for new working
capital.
V. 107, p. 1288, 1386.
In 1919 $200,-
F.
been
consolida¬
tions and
Committee for ls( M.
H. Gethoefer, David
bonds.
CO.
as a
also operates an interurban line to Glendale and
Clifton, a distance of about
10 miles.
Has the right of eminent domain (confirmed by the State Su¬
Cal.
Goshen, South Bend, La Porte and Michigan City; in Elkhart expires in
1957.
Operates all local electric lines in above cities and the interurban
line Joining them.
a
Mass. June 21 1912
Spartanburg and the entire electric light and power business in Gaffney,
Oowpens, Woodruff, Blacksburg,'Pacolet, Clifton and Converse, S. C.;
1919
,..
ORGANIZATION.—Incorporated in Indiana In Jan. 1907
that
C.
RAILWAYS
&
EARNINGS.—For 12 months ending Dec. 31:
Ry.. which had consolidated the Indiana Ry., the
South Bend La Porte & Michigan City Ry., the Michigan City Electric Co
and the Michigan City Traction Co.
Franchise
L.
POWER
ORGANIZATION.—Incorporated in
INDIANA RY.—Trolley
to the Northern Indiana
Jas.
LIGHT,
tion of the Spartanburg Ry.. Gas & Elec. Co. and the Electric Mfg. & Power
Co. Does the entire electric light and power,
gas and street ry. business In
BEND, IND.
& NORTHERN
CAROLINA
began Nov. 1 1915.
Treas., J. H. Ricker;
CHICAGO SOUTH BEND
131
1920.
These securities have all been transferred
to
the committee for the
Spokane & Inland Empire RR. 1st & ref. mtge. 5s (see Spokane & Eastern
Ry. & Power Co. above) and are held for the benefit of the depositing
bondholders.
ROAD, &C.—Owns and operates 146.086
equipped railroad extending from Terminal
skirts of Spokane, to Colfax, Wash., and
consists of 10 locomotives, 21 passenger, 191
miles of single track electrically
Junction, which is at the out¬
Moscow, Idaho.
Equipment
freight, 3 work cars.
subject to
any int. date at 105.
The following amounts are payable annually
sinking fund from March 1 1909 to Feb. 28 1915: 1% of bonds out¬
standing. from March 1 1915 to Feb. 28 1925,1J4% of bonds out; and from
March 1 1925 to Feb. 28 1931, 2% of bonds out.
The So. Bend & So. Mich,
bonds are not subj. to call.
$5,000 per ann. is payable into a sinking fund on
these bonds, commencing Jan. 1 1907. See V. 82, p. 1158, and V. 83. p. 493
on
Into
a
EARNINGS.—For 12 months ending Dec. 31:
Gross.
Net.
Taxes.
Year—
1919
1918
-.$288,135
209,642
_
$126,493
84,278
$10,752
11,639
Interest.
Surplus.
$58,200
$57,540
13,773
58,866
a line from South Bend to St. Joseph.
Total track.
Standard gauge; 70-Ib. T rail.
Has 12 motor cars. 2 batrgage
and express cars and 3 sub-stations.
General Electric and Westinghouse
equipment.
Purchases power.
ROAD.—Operates
35 miles.
OFFICERS.—Pres..
Murdock:
Chas.
F.
Dieterich.
New
York:
V.-P,
Chas. M
Treas., A. E. Dieterich, New York; Sec., S. T. Murdock; V.-P.
& Gen. Mgr., R. R. Smith; Aud., O. A. Small; Purchasing Agent, R. E.
Cornwell.—V. 83, p. 493.
TME WASHINGTON
Street Railway, &c.
WATER POWER CO.'S SYSTEM.—Spokaiu
ORGANIZATION.—Chartered in Washington Mar.13 1889 for 50 year*.
Owns all of the property formerly belonging to the following companies.
Ross Park Street Ry. Co.
Big Bend Power Co.
City Park Transit Co.
Spokane Cable Ry. Co.
Edison Electric Illuminating Co.
Falls City Land & improvement Co.
Arlington Heights Motor Ry. Co.
Post
Falls
Water
8pokane Co. Electric Co.
Spokane Electric Ry. Co.
Spokane Street Ry. Co.
•
Power Co.
owns the entire capital stock of the Idaho-Washington Light & Power
Co.. acquired July 1 1913, and the St. Maries Lt. & P. Co.
V. 97, p. 523.
Owns all the water power on the Spokane River at Spokane, Wash , In¬
cluding former property of Spokane Falls Water Power Co.; also water
Long Lake and Little Falls, Wash., and at Post Falls, Idaho.
Company operates the electric-light and power systems in Spokane, 11 111
yard, Pullman. Uniontown, Colton, Palouse, Garfield, Farmington, Oakes
dale, Tekoa, Colfax, Latah, Spangle, Endicott, St. John. Elberton. Bel-
•power at
ELECTRIC
132
[Vol. 111.
RAILWAYS
Troy &
The railroad is on private
Franchises expire in 1928.
Interest.
Outstanding.
Maturity.
ORGANIZATION.—Successor in Nov. 1916 to the Springfield
mont. Diamond, Reardan, Davenport, Harrington, Sprague, Ritzville
Lind, Odessa, Wilbur, Almira, Creston, Hartline, Kockford, Johnson and
Govan, all of Washington, and in St. Maries, Moscow, Genesee and Osborne
in Idaho. Also supplies power for operation of other cos. at Newport, Medi¬
cal Lake and Cheney In Washington and Post Falls, Rathdrum, Coeur
right of way except in cities and towns.
d'Alene, Wallace, Wardner and Kellogg in Idaho.
In Nov. 1917 entered
Into a contract with the Chicago Milw. & St. Paul Ry. to furnish power
for the operation of its trains on the-western extension of the electrified
section of the road over the Cascade Mountains.
The co. began supplying
1916
6gJ-D
250.0M
See text
cHftlnt. at Central Trust Co. of III.. Chicago.
Stock.—The Springfield Troy & Piqua Ry. was financed by its officials;
$70,000 stock was issued to comply with law requiring issue of 10% of au¬
Piqua Ry., which was Incorp. April 20
Date.
STOCK AND BONDS—
Stock
1903.
$350,000
»
1st Mtge
$350,000 gold ($500/
and$1,000)
power to the railroad in the summer of 1919.
Franchises for electric-lighting and power in
thorized amount.
Street
shown above) the estate of Asa S. Bushnell for advances.
V. 103, p. 1981.
Bonds.—The bonds mature $25,000 Dec. 1 1920, $35,000 Dec. 1 1921 to
pavement between tracks.
On March 15 1910 increased authorized capital stock from $10,000,000
to $15,000,000 and on Dec. 2 1913 to $20,000,000.
V. 97, p. 1505.
nent betterments and
Spokane run to June 1 1934.
railway franchises of various lengths.
Franchises in small towns
various lengths, 25 to 50 years.
In 1917 the City Council of Spokane, Wash., denied the co.'s petition for
cancellation of ordinance provisions for franchise taxes and maintenance of
Early in 1917 the Washington Legislature passed an Act empowering the
co. to take over by lease or consolidation the lines of the Spokane & Inland
Empire RR. in Spokane.
The Act, it is understood, will be availed of.
If at all, only after the Spokane & Inland Empire RR. has set Its affairs Id
order.
Compare V. 105, p. 1999.
Acquisition of Spokane Heat, Light & Power Co.—In 1919 negotiations
concluded with the creditors and security holders of the Spokane Heat,
were
In 1917 the Ohio P. U. Comm. authorized and the co.
$280,000 stock to reimburse (together with the $250,000 bonds
Issued
Red., all or part, on any int. date at 102
Remaining bonds may be issued only for 85% of cost of perma¬
additions.
Central Trust Co. of 111., and Wm. T.
1925 and $50,000 Dec. 1 1926.
and int.
V. 103, p. 2079.
Abbott, Chicago, are trustees.
cal.
EARNINGS.—For
year
1919,
$133,083;
gross,
in
1918,
gross,
$132,372.
ROAD.—Operates 30.46 miles between Springfield and Troy. O.; began
operating in July 1904; including second track and sidings, 33 miles.
Rails,
60 and 70-lb. T.
Standard gauge.
Power plant capacity, 1,700 h.p.
OFFICERS.—Receiver,
Geo.
Aud., W. G. Bell.
General
2076, 2488; V. Ill, p. 1084, 1370.
Whysall;
office, Springfield, Ohio.—V. 110, p.
Light & Power Co., by which the property of that company was bid in by
the committee representing its $1,400,000 3-year mtge. notes, and turned
to the Washington Water Power Co. free and clear.
The latter issued
place of said notes its own $1,400,000 20-year (not callable) debentures
springfield,
over
in
bearing interest at the rate of 3% for the first 6 years. 4% for the next 7
and 5% for the remaining 7 years.
(See table below).
V. 108, p.
685.
The property was acquired at receivers' sale and turned over as of
May 2 1919; the electrical machinery and business was absorbed by the
Washington Water Power Co. and the steam heat plant and business sold
to the Spokane Central Heating Co., a subsidiary corporation capitalized
at $1,000,000 common stock.
V. 109, p. 1280.
years
Fares.—In
1918 filed
Jan.
with
the
Wash.
P.
S.
Comm.
a
new
fare
schedule, effective Feb. 1 1918, increasing the rate for school tickets to
4 cents each and discontinuing the sale of 11 tickets for 50 cents and 110
tickets for 5 dollars.
V
106, p. 500.
In Aug. 1918 the company's advance
.
to 3-cents per
rates were
mile
its interurban lines and its 25% increase in freight
V. 107, p. 803.
In
on
upheld by the Washington P. S. Comm.
April 1919 was auth. by the Wash. P. 8. Comm. to increase fares to 6 cents.
The co. had applied for a 7-cent fare with a
See also V. 109, p. 478; V. 110, p. 263.
In Feb, 1920 issued $3,000,000 2-yr.
of 1-yr. 6% notes due Feb. 2 1920.
V.
TOOK AND BONDS—
1-cent charge for transfers.
Compare V. 108.
Interest.
Date.
p.
975.
7% notes to refund a like amount
109, p. 2441; V. 110, p. 360.
Outstanding.
Maturity.
$15,490,000
See text
23 7,000 July 1 1929
Q-J
1899
5 g J-J
trust,
$2,000,000, gold
|
Interest at Franklin Trust Co., Brooklyn
($1,000)
c*&r I
N. Y., trustee.
1st ref mtge, $15,000,000 gl
1909
5 J-J
5,857,000 July 1 1939
($1,000)
c* & r* cptflnt. at Farmers' L. & Tr. Co., N.Y., trustee.
2-yr secured notes $3,500,000/ 1920
7%
3,000,000 Feb. 2 1922
[Central Union Trust Co., trustee.
20-year debentures
1919
see text
1,400,000
1939
Stock $20,000,000 ($100)
1st consul mtg and collateral!
Bonds.—Of the $15,000,000 refunding & ext. mtge. bonds, $237,000 are
to retire 1st mtge., $3,600,000 are pledged as collateral under
reserved
2-year notes (see above), $3,850,000 are fn treasury, $1,256,000 have
been canceled by sinking fund, and the remainder are for add'ns and extens
at not to exceed 50% of cost.
Sinking fund of 2% per annum of bonds out
the
began Sept. 1909 for purchase of bonds at not exceeding 110 and int., but
bonds cannot be drawn.
Bonds are redeemable as a whole at option of com-
Eany at 110 V. 89, p. V.88, p. 54, 1003.1900, 2120. listed on N. Y. Stock
and Int. 1544; V. 104, p. Bonds are
Ixcnange.
Notes.—The 2-yr. notes are secured by deposit of 1st & lief. Mtge. 5%
bonds in the ratio of 120% of the amount of notes outstanding.
Interest
payable semi-annually at Spokane & Eastern Trust Co., Spokane.
Dividends.—In 1900, 3%; in 1901, 4%; in 1902, 5%; in 1903. 6%; in
'904,
1912 and
In 1917.
6%; 1906 to 1910, incl., 7% per annum.
In
1913, 8%.
In 1914, 7%%.
In 1915. bVx%.
In 1918, 4%.
In 1919, 4%.
July, 134%; Oct.. 1H%.
4%.
1911, 7%%.
In
In 1916. 4/4%.
In 1920, Jan.,il^%; April, 1^%.
Int. &c. ciation.
Taxes).
$
1919-3,670,092 1,742,429 536,323 353,000
1918—2,927,379 1,454,902 512,710 325,000
1917—2,833,191 1,392,327 431,909 325,000
Passengers carried (city lines only), 1919,
739 in 1918 and 17,305,047 in 1917.
Year-—
$
$
$
& Loss.
Paid.
$
$
$
dr.1,097 658,325 s.ur.193,683
dr.6,973 619,600 def.
9,381
cr.2,096 619,600 sur. 17,914
18,478,611, against 16,482,-
ROAD.—System consists of 110.93 miles of track.
City lines occupy
Standard gauge; 60 to 107-lb. T. rails.
Does a
freight business under special franchise. Operates 638 miles of high-tension
transmission lines.
Owns hydraulic power plants as follows: 12,000 h. p
at Spokane; 15,000 h.p. at Post Falls, Idaho; 27,000 h.p. at Little Falls,
Wash., completed in 1911.
In 1915 completed first half, 33,000 h.p. of
an
ultimate installation of 60,000 h. p. at Long Lake, Wash.
A new
22,500 mech. h. p. unit was completed in Dec. 1919.
OFFICERS.—Pres., D. L. Huntington; Chairman of Exec. Comm. &
V.-P., W. J. C. Wakefield; V.-P. 6c Gen. Mgr., VV E. Coman; Sec. & Treas.
.
V. G.
Shinkle; Aud., J. S. Simpson.—V. 108, p. 380, 581,685, 975. 1388,
2242; V. 109, p. 478, 1274, 2441; V. 110, p. 263, 360,659.
springfield, mass.
SPRINGFIELD STREET RY.—See New England Investment Sc Securi¬
under
Worcester.
_____
springfield, mo.
SPRINGFIELD RAILWAY & LIGHT CO.—See Federal Light & Trac.
Oo. under New York City.
,
197-8
.
EARNINGS.—For
A. J.
Crosby.—V. 64,
springfield, ohio.
auth.
Dividends.—First div.
5)4%; in
1)*; June,
1910,
4Ji%;
on
and issued, $300,000; preferred, 5%
Par, $100.
$1,200 of each class held in
pref., 4%,
1911, 8X%.
paid Oct. 1
1912, 6)4%.
was
In
treas•
1908.
In 1909
In 1913. Mar..
Sept., 1)4%; Dec., \ )4.% regular and 2% extra, which
paid accumulations in full to Jan. 1 1914.
In 1914 to 1919, incl., 5%./
In 1920, March, 1)4%; June, 1)4%; Sept., 114%.
Initial dividend on
common of 2% paid Dec. 1913.
In 1914, 1915 and 1916, 3%.
In 1917,
Dec., 2%.
None to Dec. 31 1919, when 1% was paid.
EARNINGS.—For year ending Dec. 31 1919, gross, $114,249; net, after
taxes, $12,859.
In 1918, gross, $88,641; net, after taxes, $12,116.
ROAD.—Operates 20 miles of track connecting Springfield and Xenia
70-lb. T; five cars.
Rails,
OFFICERS.—Pres.,Warren Bicknell, Cleveland; V.-P., Geo. A. Coulton
Sec. & Treas., Chas. S. Thrasher; Oper. Mgrs., The Warren Bicknell Co
V. 99. p. 1911; V. 100, p. 643; V. 101, p. 2072; V. 105, p. 2367.
Receivership.—Int. on the $250,000 1st M. 6's having been defaulted,
George Whysall in Sept. 1919 was appointed receiver for the co.
V. 109,
p.
1180.
Sale.—On June
5
1920
W.
P.
Studevant,
acting for the bondholders'
committee, purchased the property at receiver's sale at the upset price of
$300,000.
Reports state that $250,000 of new bonds and $125,000 pref.
stock will be issued under a reorganization plan.
Residents along the line,
it is said, have agreed to take the stock.
V. 110, p. 2488.
See also V. Ill,
p.
1084, 1370.
gross, $135,816.
In
Pres. & Gen. Mgr.,
Coolidge; Treas., H. W. Blanchard; Supt.,
1043; V. 70, p. 793; V. 106, p. 2124.
ending June 30 1920,
before taxes, $5,824.
year
198-
p.
LIGHT
&
y.
island, n.
CO.
RR.
Nixon to increase fares from 5 cents to 8 cents, tickets to be sold at 10 for
75 cents.
Owing to this increase, the Board of Estimate revoked
the co.'s franchises, but under an injunction of the Federal
restrained from interfering with the co.'s cars, tracks, &c.
10 of
Court the city is
V. 110, p. 1974,
2658; V. Ill, p. 295, 1070.
On July 3 1920 Justice Tierney of the Supreme Court denied the city s
application to enjoin the co. from charging an 8 cent fare.
See V. 111.
p. 190 under "Rapid Transit in N. Y."
,
.
Interest.
Date.
STOCK AND BONDS.—
are
Maturity.
Outstanding.
$2,871,750
—
$286,957
164,372
$2,186
50,643
.$491,578
448,691
1918-19
,
1902
4 g J-J
2,200,000 July 1 1952
tfjlnt. at Guaranty Trust Co., N. Y., trustee.
reserved for the acquisition of new property.
EARNINGS.—For years ending June 30:
Year.
Gross.
Net (aft. Tax.). Other Inc.
Surplus.
$123,438
51,943
Int. & Rents.
$165,754
163,072
ROAD.—Miles of track, 32.05; 90-lb. girder Cambria and 85-lb. girder
Johnson steel rails; 36 passenger cars.
.— Pres..
C
W. Hotchktss
55 Wall St.. N. Y.
V.-P
&
Mgr., R. L. Rand; Sec., J. E. Phillips.—V. 107, p. 502; V. 109, p.
OFFICERS
Gen.
2440; V. 110, p. 1850, 1974,
STATEN
ISLAND
2658;JV.J11, p. 295, 1370-
MIDLAND
RAILWAY
CO.
Receivership.—In Jan. Federal Judge Chatfield appointed Jacob Brenner
for the co.
V. 110, p. 360.
Service Suspended.—On Jan. 16 1920 the co. discontinued the operation of
its trolley lines.
This action followed the refusal of the Board of Estimate
& Apportionment, to grant a 7-cent fare upon the request of a committee,
appointed by P. S. Commissioner Nixon to investigate the co's. affairs.
The committee found that the co. was operating at a loss of $100,000 per
annum.
V. 110, p. 360.
Compare V. 109, p. 2440; V. 110, p. 79. 262, 360.
In Oct. 1920 it was stated that the co.'s lines would be placed in operation
early in Dec. 1920 at a 5-cent fare under municipal regulation.
This is
the result of an agreement between the road and the city.
V. Ill, p. 1662.
ORGANIZATION.—incorporated in New York 011 Jan. ib 1907 at, a
reorganization of the Staten Island Midland Railroad Co. 6old under seques-?
tration proceedings on Jan. 3 1907.
V. 84, p. 222.
Transfer Decision.—See under Rich. Lt. & RR. above.
V. 92, p. 1180.
Merger Denied.—See Richmond Light <fc RR. Co. above.
receiver
STOCK AND BONDS—
$1,000,000
Date.
Interest.
($100)
Outstanding.
$1,000,000
Maturity.
$1,000,-/ 1896
5 g J-J
1,000.000 Jan 21 1926
000 gold ($1,000)
c*tf [Int. at Farmers'L. & Tr. Co., N. Y., Trustee
Equip trust ctfs Ser A $135,-/ 1915
6 g J-J
64,500.
See text
000 ($500) gold
c*&r\Xnterest at Bankers Trust Co., Trustee.
Bonds.—Sinking fund after 5 years but bonds cannot be called.
The equipment trust certfs. mature $7,000 each Jan. 1 and $6,500 each
July 1, beginning July 1 1915.
They are subject to call at 102 and interest.
1st mtg
by 32 double-truck closed cars.
EARNINGS.—For years ending June 30:
Year—
Gross.
Net(aft.Tax.)
Other Inc.
$307,534
322,188
1917-18
ROAD.—Owns
girder.
41
def.$80,346
def. 36.522
28.68 miles of track.
passenger
A. M.
$1,363
2,190
Int. & Rents,
$68,094
69,785
Deficit.
$147,076
104,116
Rails 65 to 70-lb. T and
90-lb
cars.
OFFICERS.—Pres.. C.
W.
Hotchkiss. 55
Wall St..
N.
Y.
City; Sec
.
Stillwell, New Brighton, N. Y.—V. Ill, p. 74, 295, 897, 991, 1280,
1567, 1662.
•
stockton,
CENTRAL CALIFORNIA TRACTION
cal.
CO.—An electric road.
ORGANIZATION.—Organized in California In Aug. 1905 to construct
*n interurban system of electri" roads for passengers and
freight in the cen¬
tral
valleys
of California.
Ro id operates over private right of way
Franc'iise* In all the cities of the system run for 50
An additional freight an 1 passenger franchise was awarded com¬
pany in May 1909 for City of Sacramento.
An assessment, of $5 a share
was called for payment Feb.-20 1908.
V. 86, p. 667.
In Jan. 1918 another
assessment of $5 per share was levied on both classes of stock,
delinquent
Feb. 25 1918, to provide additional equipment, Improve
trackage and
restore the company's credit by reducing floating debt.
The necessity for
this action was ascribed to ye^rs of unprofitable operation due to jitney
competition, which is now regulated.
See V. 106, p. 497.
On May K 1911 shareholders voted to increa>e auth. stock to
S4,000,000
of which $3,000,000 is com. and $1,000,000 pref.
V. 92, p. 955.
except in the cities.
& POWER CO.
road.
H.
Receivership.—On^Vpril 28 1920 Capt. John J. Kuhn was appointed
temporary receiver for the co. by Judge E. L. Garvin, in the Federal Court
Brooklyn, on application of the Westinghouse Electric & Mfg. Co., the
co. joining in the request.
V. 110, p. 1850.
ORGANIZATION.—This company wan formed as a reorganization on
,\ug. 18 1902 of the Staten Island Electric RR., New York & Staten Island
Electric Co. and the Richmond County Power Co.
Owns the entire capital
of the New Jersey & Staten Island Ferry Co.
For terms of reorganization
%nd complete statement of plan, see V. 74, p. 1091. Franchises are perpetual.
Transfer Decision.—On April 28 1911 Court of Appeals rendered a deci¬
sion requiring the exchange of transfers between Manor Road line of the
8. I. Mid. Ry. and connecting lines of R. L. & RR.
V. 92. p. 1179.
Merger Denied.—The N. Y. P. S. Comm. on May 10 1917 denied the
application for aqth. 10 merge this co. and the Staten Island Midland Ry.
under the title of Staten Island Light & Traction Co.
V 104. p. 1900Fare Increase.—On May 6 1920 the co. was auth. by P. S. Commissioner
Secured
cum.,
1)4%:
SPRINGFIELD TERMINAL RAILWAY
Judge
staten
RICHMOND
tock
SPRINGFIELD & XENIA RAILWAY CO.
ORGANIZATION.—Incorporated In Aug 1906 to succeed the Spring¬
field & Xenia Ry., which was organized In 1904 to succeed the Springfield
& Xenia Traction Co., which had been sold under foreclosure. V. 83, p. 214.
STOCK.—Common,
1918,
1918-19, gross, $98,383; net,
E. C. Crosby; V.-P., M. A.
I Mid RR
auth. and issued, $300,000.
vt.
trolley
RY.—A
H. Blanchard of Springfield, Vt.,
Treasurer of the company, was appointed receiver, following default on
the $100,000 1st M. bonds due Nov. 1 1917.
V. 106. P- 2124.
ORGANIZATION.—Length of road. 6)4 miles (9 miles of track) from
Springfield, Vt., to Charlestown, N. H.
Freight and passenger road.
Carries freight in standard cars.
Connects with Boston & Maine RR.
Capital stock, common (auth.), $75,000, all outstanding; 6% pref. stock.
$25,800:1st M. for $100.000of 5% gold $500 and $1,000 coupon bonds dated
Nov. 1 1897, due Nov. 1 1917: int. M. & N. at National Shawmut Bank,
Boston.
Receiver's certifs. (issued for old indebtedness), $22,321.
$2,600,000 gold
bonds.—$300,000
Sur.orDef.
44.96 miles of streets.
ties Co.
ELECTRIC
May
Stock $3,000,000 ($100)
First collateral
trust
mtge.l
REPORT.—For years ending Dec. 31 (1918 report in V. 108, p. 1388):
Total
Net (after
Bond
DepreProfit
Divs.
Balance,
Receipts.
SPRINGFIELD
Receiver.—In
years.
Oct., 1920.]
ELECTRIC RAILWAYS
Lease.—The Cal. RR. Comm. in March 191.5
authorized the company to
lease its lines in Stockton to the Stockton
Elec. RR. at a rental of $12,500
a year for first 3
yrs. and $15,000 yrly. for next 35 yrs.
V. 100. p
1167.
Operating Agreement.—Early in 1916 entered into an agreement with the
133
STOCK AND BONDS.—Common $1,500,000 ($100)
Pref
"A"
6%
cum
Date.
Interest.
Maturity.
Outstanding.
$1,450,000
$1,000,000
.
($100)
250,000
Tidewater Southern Ry, providing for the joint operation of the two lines
one system.
The separate corporate existence of
each, however, is to
he maintained.
V. 102, p. 1250.
Plan to Reduce Interest. &c — In 1917 holders of
the 1st M. 5s signed an
($100).
Equip trust bonds
agr,ee,r??1?fcand
rejluci?g. the Int. rate from 5% to 2% for
and 1919
1st mortgage $2,500,000 gold)
as
waiving default in int.
Compare V.
106,
497.
p.
Fare Increase.—in
passenger
fares
on
also the
and
main
line
between
the branch line to Lodi to 3 cents
per
and to increase commutation rates
10%.
STOCK AND BONDS—
Date.
Common $3,000,000 ($100)Pref $1,000,000 ($100)
6% cum
Stockton
11 ■ 500,000f 1906
and
to increase
Sacramento
and
mile, to cancel round-trip fares
V/. 107. p. 401.
Interest.
Outstandina.
$2.675 300
1,000.000
5 g A-O
Maturity.
1,492,000 April 1 1936
succeeding
per year for remaining 4 years.
Int
on 60 days
notice.
Bonds
are
red.
on
10
any
years and $45,000
int. day at 105 and
ROAD.—Operates in the city of Stockton and an interurban line frotr
Stockton through Lodi to Sacramento,
Total track operated, 70.8 miles
Has operating agreement with Tidewater Southern
Ry., whereby the two
lines are operated as one system.
Company carries Wells Fargo express
matter.
OFFICERS.—Pres., Alden Anderson; V.-Ps., M. Fleishhacker, Geo. W.
H.
and H. Fleishhacker; Sec. &
Treas., A. N. Baldwin; Gen. Mgr.
Robertson.
Office, 233 Post St.. San Francisco.—V. 107. p. 401.
stockton
electric rr.
ORGANIZATION.—Incorp. Dec.
Co.
owns
the entire
29 1891 In California.
1st mortgage $1».000,000 gold)
Southern Pac.
No bonds
$500,000 stock except directors' shares.
Lease.—For lease of the Central California Traction .Co.'s lines in Stock¬
ton. see that company above.
Fare Increase.—In Jan. 1919 was auth. by the Cal. RR. Comm. to
charge
The co. had applied for a 7-cent fare.
V. 108, p. 80.,
6-cent fare.
EARNINGS.—For years ending Dec.
Year.
Gross.
1918
$243,276
1917
Net.
240,802
miles
31:
Other.
Int., Rents, &c.
$7,351
$11,646
4,124
15.143
$29,722
53,459
ROAD.—Operates 25.51
of track.
Standard gauge.
Bal., Sur.
$25,427
42,440
29
cars.
OFFICERS.—Pres., Paul Shoup; Sec. & Aud., H. A. Culloden; Treas.,
Mgr., Frank W. Webster.
Office. Los Angeles. Cal.—V. 76.
159; V. 100, p. 643, 902; Y. 102, p. 1626; V. 108, p. 80; V. Ill, p. 1370.
vf. S. Wade;
p.
tidewater southern railway company.
lORGANIZATION.—Incorp.
on Mar. 11 1912 as a consolidation of the
RR. (V. 93, p. 1790) and Tidewater &
It is proposed to construct a 227-mile line from
Stockton to Fresno via Turlock, including branch lines, of which 50 miles
between Stockton and Turlock completed and in
operation.
Stock.—$1,795,703 stock, of which $14,560 is preferred, is outstanding in
the hands of the public.
In Dec. 1916 the Cal. RR. Comm. auth. the co.
to issue $600,000 stock at not less than 80, the
proceeds to be used to extend
its line from Hatch to Irwin City, Cal.. 8 miles, for freight terminals in
Modesto and for other impts.
V. 104. p. 164.
In Jan. 1917 the RR
Comm. auth. the co. and Pres. Byron A. Bearce to terminate the
special
trust created for $2,000,000 of common stock to cover control during the
construction period by freeing therefrom 250,000 shares and returning the
remaining 1,750,000 shares to the treasury.
The 250,000 shares are to
be held in a special trust and be withheld from sale for 5 years. V. 104,
p
665.
The co. has applied for permission to exchange common stock, share
for share, for the $30,000 pref. stock outstanding.
Purchase.—In Nov. 1914 purchased from the Modesta & Empire Trac.
Co. the line of their railway from Modesta to Empire, taking over at the
<ame time all freight agreements with the Santa Fe road.
V. 99, p. 1452.
Assessment.—An assessment of 10 cents per share was levied on stock¬
holders. delinquent Oct. 4 1915.
In 1917 an assessment was levied on all
delinquent stock equal to the amount unpaid, delinquent April 21, sale date
May 10 1917.
Operating Agreement with Central California Trac. Co.—See remarks
under that company above.
Valuation.—Early in 1916 the reproduction cost, less depreciation, of
the operative property was fixed by the Cal. RR. Comm. at $623,377, and
of the non-operative property at $90,166.
V. 102, p. 1250.
In Mar. 1918 was auth. by the Cal. RR. Comm. to issue $500,000 1st M.
6% bonds, due in 1942, at not less than 80; proceeds to pay in part for
construction work.
V. 106, p. 1345.
projected Tidewater & Southern
Southern
Transit
Ry.
STOCK AND BONDS—
Stock $5,000,000
First
mortgage
,
gold
Date.
Interest.
$4,000,000/
1912
Maturity.
Outstanding.
See text
($1)
5 g A-O 15
on any int. day.
Sinking fund 2% of bonds out Oct. 15 1916 to
Oct. 15 1921, and 3% of bonds our Oct. 15 1922 to Oct. 15 1941. which will
retire bonds at maturity.
$50,000 are held in sink. fd.
Int. at company's
or
in New
York.
a
2-hour passenger service between Stockton, Atlanta,
Escalon and Modesto.
Has contract for power with Sierra & San Fran.
Power Co.
Under agreement with Central California Traction Co. the
two
properties
are
operated
as one system.
•
250,000 May
1 1945
A" reported outstanding $50,000 is held in trust by the
Reorganization Committee to retire mortgage notes.
The common and
pref. stocks are held in a 5 year voting trust.
Bonds.—The bonds of the Syracuse Lake Shore & No. RR. are sunject
to call since May 1 1917 on any int. date at 110 and int. upon 60 days'
notice.
No sink. fund.
The Auburn & Northern bonds are subject to
call at 110 on any interest period on 60 days' notice.
No sinking funds.
Cal. Year.
calendar
Net
$857,553
749.858
1918
years:
ah. Taxes. Oth. Inc.
$217,736
$10,380
Gross
1919
215.494
Int.,&c.
$149,963
150.251
7.566
Bal.,Surp.
$78,153
72,809
ROAD.—Operates from Syracuse to Oswego, 37.8 miles.
Oswego city
lines, 10.15 m.; Auburn to Port Byron, 7.62 m.; Auburn city lines, 1.42 m.;
Fulton city lines, 0.6 m.; total length of road, 57.59 miles; second track,
21.25 m.; car house and other sidings, 5.08 m.; total trackage 83.92 miles.
Gauge, 4 ft., 8H in.
Rail, 70 and 90 lbs.
51 passenger cars. 4 express
cars, 7 work cars, 4 snow plows.
Has contract for power with Niagara
Lockport & Ontario Power Co.
Has 4 sub-stations with a total capacity
of 2,900 k.w.
OFFICERS.—Pres. & Gen.Mgr., J. C. Nelson; V.-Pres., P. W. Meacham;
Treas., L. L. Odell; Sec. & Comptroller, S. C. Stivers; Auditor, J. B.
Hyland; Asst. Sec., H. C. Beatty; Asst. Treas., J. Hold en Wilson.—
V. 105. p. 1801; V. 106, p. 189; V. 107, p. 2097; V. 109, p. 72; V.110, p.1289,
1526, 2657; V. Ill, p. 1369.
rochester & syracuse rr. co., inc.
ORGANIZATION.—Incorp. in N: Y. Sept. 17 1917 as successor to the
Rochester
Syracuse & Eastern RR. (part of the Empire United Rys., Inc.,
system) sold at foreclosure Aug. 28 1917 and separately reorganized as per
plan in V. 104. p. 2119.
Overdue int. on the Roch. Syr. & Eastern bonds
to and incl. May 1 1917, amounting to $100 per $1,000 bond, was paid In
full.
Bondholders who failed to deposit their bonds with the reorganization
committee, received $346 76 per $1,000 bond.
See V. 106, p. 1231.
Fare Increase.—On April 28 1919 the N. Y. P. S. Comm. for the 2d
Dist. auth. the co. to increase fares to 3 cents per mile, less one-half a cent
per mile for mileage tickets, effective shortly after May 1 1919.
Commuta¬
tion rates were raised one-fifth of a cent per mile and a special rate estab¬
lished between Rochester and East Rochester.
V. 108, p. 1823, 2123.
STOCKS AND BONDS.— Date.
Interest.
Outstanding.
Maturity.
Common $1,500,000 ($100)
$1,500,000
Preferred $3,000,000 ($100)
6%
2,500,000
First
mtge
conv
$5,000.0001 1917
5 g M-N
2,500,000 May 11957
$1,000) g--c*ntf/First Trust & DepositCo., Syracuse, trustee/
1st M. 5s are convertible into pref. stock at par. $ for $,
between May 1 1919 and May 1 1929; this privilege may be terminated by
the co. in case of merger or consolidation with any other co. under N. Y.
laws, or of the lease of its property.
They are callaole, all or in part, on
aqd after May 1 1922 at 105 and int.
The remaining bonds may be issued
for impts., add'ns. exts., &c.. under certain restrictions.
EARNINGS.—For year ended Dec. 31 1919, gross earnings, $1,014,145;
net after taxes and deprec., $212,879; int., $123,106; net income, $89,773.
For 8 mos. ended Aug. 31 1920, gross earnings, $761,318; net after taxes and
($500
&
Bimds.—The
deprec., $157,115; int., $82,054; net income, $75,061.
ROAD.—Extends from Rochester to Syracuse, N. Y., passing through
Rochester, Fairport, Macedon, Palmyra, Port Gibson, Newark,
Lyons, Clyde, Savannah, Port Byron, Weedsport, Jordan, Memphis and
Warner, N, Y.
Length of line, first track (owned), 157.04 miles; 2d track
(owned), 1.50 miles; siding, &c. (owned), 1,70 miles; trackage rights,
8.8 miles; total length of line operated, 169.04 miles.
Gauge, 4 ft. 8Yi in.
Rail, 70 and 90-lb. T.
Operated by overhead trolley.
Power purchased
from Niagara, Lockport & Ontario Power Co.
OFFICERS.—Pres., A. H. Cowie; V.-P. & Gen. Mgr., T. C. Cherry;
Aud. & Treas., W. K. Zinsmeister; Sec., Mercer V. White.
Peck-Shanahan-Cherry, Inc., operate the road.—V. 105, p. 1803; V. 106, p. 87, 1231,
2451; V. 107, p. 1193; V. Ip8, p. 1823, 2123; V. 109, p. 73.
East
syracuse
electric
northern
inc.
ry.,
ORGANIZATION.—Incorp. In New York May 12 1917 as successor to
the Syracuse & South Bay Electric RR. and the Syracuse Watertown &
St. Lawrence River RR., bid in at foreclosure sale on Nov. 1 1916 by the
reorganization
confirmed
In
committee
March
$201,000 and
for
$35,000,
respectively.
Sale
The company was organized as per plan in
and approved by the P. 8. Comm. by an order
1917.
V. 103, p. 580, as modified
dated April 26 1917.
Fare Increase.—On Aug. 12
call at 103
ROAD.—Operates
5 g M-N
series "B"
6-cent fare in Syracuse.
$416,500 Apr 15 1942
($500 & $1.000)
tf\Union Trust Co.. San Francisco. Trustee.
Btmds.—First mtge. bonds are issuable at $20,000 per mile.
Subj. to
office
1905
(S1.OO0)
c*tf (Int. at Equitable Trust Co.. N. Y.. Trustee.
Stock.—Series "A" pref. stock is redeemable at 105.
Series "B", after
It has received 5 years' consecutive dividends at the full rate of 6%, is
entitled to rank pari passe with or be converted into Series "A."
Of the
outstanding.
a
-
1907
5 g M-N
"2,500,000 May 1 1947
($1,000).;
c*tf)Int. at Columbia Tr. Co., N. Y., Trustee.
Auburn & Northern Electric RR.—
EARNINGS.—For
EARNINGS.—For the 11 months
ending Nov. 30 1917 the" company
reported af profit of $6,011, after all deductions, against a loss of $88,101
during the corresponding period in 1916.
Peltier
1,250,000
28,000
6%
_
$250,000 series
-
($1,000) gold sink fund.tf lint, at Union Trust Co. of San Fran., Trus,
Bonds.—Sink, fund on 1st M. bonds
began in 1912 with $15,000 per year
10 years, $30,000 per year for the
for
C.
1920
Syracuse Lake Shore cfe Northern RR.—
No later information.
July 1918 auth. by the Cal. RR. Comm.
its
on
^rtga50
the years 1917, 1918
sinking fund protdsion.
Pref B 6% non-cum $1,250,000
Also has traffic agreements with
the Western Pacific, California Nav. & Imp. Co., South. Pacific and the
Atch. Topeka and Santa Fe for the interchange of passengers and freight.
EARNINGS.—For year ending Dec. 31 1919, gross, $212,064; net, after
in 1918, gross, $183,854; net, after taxes, $2,804.
taxes, def., $61,149.
OFFICERS.—Pres., C. M. Levey; V.-Ps., A. R. Baldwin and B. A.
Beard; Sec. and Treas., Chas. Elsey.
Office, Mills Building, San Francisco,
102, p. 1250; V. 103, p. 1793; V. 104, p. 164, 665; V. 106, p.
1345; V. 107, p. 1580.
(
Calif.—V.
1919 was auth. by the P. S. Comm. to charge
V. 109, p. 777.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$150,000
'
6%
480,000
2nd pref $500,000 ($100)
6%
420,000
First mtge $600,000 gold ($251 1917
5 g M-N
153,750 May 1 1946
$100 and $1.000)
lint, at Tr. & Dep. Co.. of Onon.
Stock.—All classes of stock have equal voting power.
Stock Is held In a
five-year voting trust.
Tbe trustees are Arthur W. Loasby. William Not¬
tingham and Ferdinand W. Roebling Jr.
Bonds.—Are subject to call in whole or in part on and after Nov. 1 1917
at 110 and int.
Int. on $25 bonds payable May 1 only.
Int. payable
Common $150,000 ($100)
First pref $600,000 ($100)
without deduction other than Federal Income tax.
EARNINGS.—For cal.
year
*
1919, gross, $105,391; net income, $8,442;
1918, gross, $85,665: net (deficit), $2,157.
ROAD.—Operates 12.18 miles of single track equivalent over private
right of way from Syracuse to Oneida Lake, and a single track branch line to
Brewerton, 6.2 miles.
Has traffic agreement with New York State Rail¬
n
Co. to enter Syracuse.
New road began operations April 26 1917.
Gauge, 4 ft. HYi inches.
17 cars.
All private right-of-way.
Niagara Lockport & Ontario Power Co.
OFFICERS.—Pres. & Gen. Mgr., Talmadge C. Cherry; Treas., W. K.
Zinsmeister; SecM 11. C. Beatty.
Peck-Shanahan-Cherry, Inc., operate
the road.—V. 105, p. 73, 499; V. 106, p. 1231; V. 109, p. 777.
ways
85-lb. Trail.
Power is purchased from
STREATOR, ILL.
illinois valley
gas
&
electric
co.
This company was merged on Nov. 1 1911 into the Public Service Co. of
Northern Illinois, which see in our "Ry. and industrial" Section.
auburn
& syracuse electric
rr.—a trolley road.
ORGANIZATION.—Organized Sept. 30 1902
SWANSEA, MASS.
swansea
as a
consolidation of the
Auburn City Ry. and Auburn Interurban Elec. RR.
Franchise perpetual.
Financial Readjustment.—In April 1916 the P. S. Comm. auth. an issue
& seekonk
street ry.
To be Dismantled.—On Nov. 9 1919 the directors voted to sell the com¬
pany's entire stock and equipment to the McGovern Co., Inc., of N. Y.,
for $26,250.
The company's charter has been annulled, the rails are to be
of $437,000 6% 5-year notes to refund the $260,000 1-yr. notes due Feb. 1
1916, the $150,000 18-mos. notes due Aug. 1 1916, and for other corporate
torn
called
up, &c. ¥^109-,ip. 1893.
For history of this company see "Electric
Railway" Section of Nov. 15 1919.
SYRACUSE, N. Y.
empire state rr. corp.
ORGANIZATION.—Incorp. in New York Oct.
to
the
27
Empire United Rys., Inc., sold under foreclosure
863; V. 105, p. 909.
1917 as successor
plan in V. 104.
per
over, subject to underlying bond
Issues the Syracuse Lake Shore & Northern and Auburn & Northern divi¬
sions.
The Rochester Syracuse & Eastern division was separately reor¬
ganized as the Rochester & Syracuse RR. (which see below).
Fare Increase.—In Jan. 1918 announced various fare increases, including
an
advance from $1 25 to $1 38 for round trip tickets between Syracuse
and Oswego.
In Sept. 1918 these rates were again increased, this time
from $1 38 to $1 90.
p.
The new co. took
In Sept. 1920 the co. applied to the P. S.
$70,000 equip, trust notes.
V. Ill, p. 1369.
The $350,000 3-year 6% notes
1920.
V. 110, p. 1526.
Comm. for auth.
to
issue
1
due Nov. 1 1920 were paid off
on
.
May 1
purposes.
upon
As part of this refinancing plan, the common shareholders were
to surrender 35% of their stock, which was distributed as a
bonus to subscribers to the notes at the rate of 1 share of stock for every $100
of notes.
The stock so delivered was In the form of voting trust certificates,
and, together with sufficient of the remaining common stock to constitute a
majority, was deposited under a voting trust agreement extending to Jan. 31
1921,
Trustees are Arthur W. Loasby and F. W. Roebling Jr.
V.
102, p. 1895.
Fare Increase.—In Jan. 1919 was auth. by the N. Y. P. S. Comm. to
increase fares in Auburn and the Auburn zone from 5 to 6 cts. V.108, p. 76.
On Mar. 15 1920 was auth. by the city authorities of Auburn to increase
fares to 7 cents, the new rate to continue in effect for 3 yrs. V. 110, p. 764.
On Aug, 12 1919 was auth. by the Comm. to charge a 6-cent fare in Syracuse.
209) p# 774*
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common $1,250,000 ($100)
$1,250,000
Pref 6% n-cum $750,000($100)
Q-J 15
712,000
S®6*®?*
Auburn & Syracuse first andf 1902
5 g A-O
1,752,000 Oct
1 1942
refunding
mortgage
$2,-jlnt. at Harris, Forbes & Co., New York.
000,000 gold ($1,000).c*tf [ I Equitable Trust Co.. New York
trustee.
Gold notes $4.50.000 ($1,000,/ 1916
6 g F-A
72,000 Feb 1 1921
$500 & $100) see text
cllnt. at Trust & Dep. Co. of Onondaga, Trus,
Bonds.—Of the $2,000,000 authorized. $248,000 Is reserved for future ex¬
tensions. but only when net earnings are double int. charges; subject to call
at 110 and Interest.
See V. 75, p. 1201.
Int. on notes Is payable without
deduction for taxes other than Federal Income tax.
They are red at par
and int.
on
any
$85,000 have been paid off.
int. date on 30 days' notice.
!nov.
1904
then 1% Feb. 1 1905, May 1 1905 and Aug. 1 1905; Nov. 1 1905. 1 14%
paid (See V. 81, p. 1609).
In 1906. 5^%; 1907 to 1913 IncL, 6% per
annum.
In 1914. Jan., lk%: April, 1H%; July, 1 H%.
Noneslnce. No
dlvs. can be declared until the notes or 1916 are paid off. except with the
consent of the voting trustees.
V. 102, p. 1895.
■
,
Dividends.—First dividend
on
preferred stock—1%—-paid
EARNINGS.—For years ending Dec. 31:
Gross.
Net.
Taxes.
$95,880
95,763
$27,709
37,173
$140,727
137,535
-.$641,904
724,237.
1918
1
Surplus..
$17,137
Int.,&c.
Year—
1919
4.599
ROAD.—Operates 41.16 miles of road (64 76 miles of track). Including
14.12 rn. in Auburn and 27.1 rn. from Auburn to Syracuse.
Has trackage
agreement with New York State Railways, allowing it to enter Syracuse,
Owns Lake Side Park, about 33 acres, on Owasco Lake; 62 passenger cars,
and 5 snow-plows; total, 76 cars.
Syracuse; V.-P., Harold G. MetAssd.Soc.,
L. E. Lippitt, Auburn; Sec., H. C. Beatty, Syracuse.
Peck-ShanahanCherry, Inc., operate the road.—V. 106, p. 188. 2227; V. 107. p. 2097:
V. 108, p. 76; V. 109, p. 774; V. 110, p. 764; V. Ill, p. 790.
3 express, 3 work, 1 service, 2 sweepers
OFFICERS.—Pres.,
T. C. Cherry,
ORGANIZATION.—Was formerly known as the Enfield 8c
property of the Windsor Locks Trac. Co., subject to its mortgage.
In 1905
the Legislature granted permission to increase stock to $1.000,000 from time
to time, part to be preferred, and also to extend time for construction until
July 1 1907.
See V. 79. p. 2697.
In July 1906 absorbed the Rockville
Broad Brook 8c East Windsor Street Ry., which operated 14 miles of track
from Warehouse Point to Rockville.
V. 83. p. 213.
Lease.—In June 1919 the company completed arrangements to operate
the Suffield Street Ry., extending from Spencer's Corner, Suffield, to the
In
A
put into
May 20 1918 in the zones operated in Connecticut.
Effective
1920, Judge Lucien F. Burpee in the Superior Court at Hartford
auth. the receiver to lengthen the zone distances to 3 1-3 miles and to in¬
crease the zone fares from 7 cents to 10 cents.
V. 110. p. 1289.
Fare Increases.—An
STOCK AND BONDS—
Y. Pub. Serv. Comm. to execute a
Phila. (changed to Syracuse Trust Co.,
carried out.
Fares.—Effective Oct. 16 1918 was auth. by the N. Y. P. S. Comm. to
Increase cash fares to a basis of 3 cents per
mile with 6 cents as the minimum
V. 107, p. 1482.
Compare V. 107, p. 182.
On July 6 1920, the
auth. by the P. 8. Comm. to charge 3.6 cents per mile for the bal¬
of the year with a minimum fare of 7 cents.
After Jan. 1 1921 the rate
charge.
co.
was
ance
will be 3.5 cents per
mile with
a
7 cent minimum fare.
Dale."
STOCK AND BONDS—
V. Ill, p. 295.
Maturity
See text
Outstanding.
Interest.
$400,000
Stock $400,000 ($100)-—
First mtg $400,000 ($500 and/
1897
5 g F-A
400,000 Aug 2 192?
$1,000) gold--.-,
---Clint, at Fidelity Trust Co., Phila., trustee.
New cons mtg $550,000 ($500/ 1903
5 g M-N
150.000 May 1 1953
and $1,000) gold
-_c*tfllnt. at Fidelity Trust Co., Phila., trustee.
Bonds.—Of the 1903 cons. mtg., $400,000 are reserved for prior liens.
cum
EARNINGS.—For years ending Dec. 31:
Year—
Gross. Net (aft. Tax.). Oth. Inc.
1919
$172,973
$36,148
$385
138,808
1918
394
25,242
6 M-N
'
($1,000)/ 1901
5 g J-J
c*tf(Interest payable
600,000 July 1
American Trust
at
1921
Co..
Boston; Treas. of Connecticut, trustee.
$300,-/ 1904
5 g J-J
161.000 July 1 1924
&i.c*tf\Interest at American Trust Co.. Boston
mtg) 1906
5 g A-O
200.000 April 1 1926
($1,000) .c*tf lInt.atAm.Tr.Co.,Bos.;Treas.of Conn..trust.
Locks
Windsor
Outstanding.
Maturity
,$500,000
285.000 Nov *12.2%
Interest.
Date.
$500,000 6% non-i
redeemable at 110
J
Preferred
1st M
000 g ($1,000) gu p
Rockv B B & E Wind 1st
$300,000
g gu
Bonds.—See V. 78, p. 1223.
The Windsor Locks bonds are guaranteed
prin. and int. by the Hartford & Springfield Street Ry.
Trustee, Treas. of
State of Conn.
These bonds are subject to call at 110 and int. on any int.
iate.
Rockv. Broad Brook & East Windsor Street Ry. bonds are guar.,
p
They
& 1., by Hartf. 8c Springf. St. Ry.
was
subj. to call at 110 & Int.
In 1911. 5%
paid; Nov.. 2%
None since.
are
In 1907, 6%; none to May 1910, wheD
In 1912. May ,2%; Nov., 2%.
Dividends.—On pref. in 1906, 6%:
1%
.
EARNINGS.—For years ending Dec. 31:
Gross.
Exp. & Tax.
Net.
Sur. or Def.
def.$51.929
def .48,361
1917
*
202,011
def. 6.603
ROAD.—Owns
13
miles
of
track from State line to East Windsor
Hill, which was formally opened on Jan. 15 1902. and 7.80 miles (formerly
Somers 8c Enfield Electric Ry.) from Thompsonville to Somers.
Also a line
Interest.
$48,658
49,197
48,649
Year—
--$257,214
229,199
241,057
1919.
1918
def.$3.270
836
42,046
$260,485
228,363
-
from Suffield to
line from
connection with the Hartford Street Ry.,
a
Warehouse
Broad
Point to
Brook,
14.45 miles.
9-70 m., and a
Has trackage
rights in Hartford <*nd Springfield, making total mileage operated.
sidings, 44.95 miles.
Standard gauge.
56. 60 and 70-lb. T rail.
Including
46 cars.
OFFICERS.—Pres
C. Perkins, Hartford,
V.-P., P
Conn.; Gen. Mgr., Wm. Walker, Warehouse Point, Conn.; Treas., Geo S.
West, Boston, Mass.; Asst. Treas,, Lester E. Flint, Boston, Mass.
V. 109,
p.
Dividends.—In 1915, 1J*%; 1916. Wo.
from 6 to 7 cents was
fares
($100)
Oommou $500,000
I
Syracuse. N. Yas trustee, to secure an issue of $1,000,000 1st Ref. 5%
50-yr. bonds.
The directors have authorized the issuance of $750,000
bonds thereunder (already approved by P. S. Comm.) proceeds to be used
as follows: to be held in trust to retire 1st Mtge. and 1st Cons. Mtge. gold
bonds, $550,000; the remaining $200,000 will be issued and sold for cash,
one-half to be taken by the bondholders and the other half by the stockhdlders.
The proceeds will discharge floating* indebtedness and leave
$55,000 for impts. and $18,000 for working capital,
V. 109, p. 677.
Compare V. 107, p. 605Up to Oct. 1 1920 this financing had notbeen
in
April 1
1918 was auth. by the N.
Aug.
mortgage to the Fidelity Trust Co.,
increase
effect on
gold
Franchises are perpetual
\ I '/■ VI'loN, —f^h«rternd June 29 18Q5.
V. 108, p. 2629,
State line, under a lease from the Connecticut Co.
1
In Feb. 1909 a syndicate headed by Mr. John J, Stanley of Cleveland. O.
purchased the stock of the Syracuse & Suburban.
V. 88. p. 507.
reconstruct ana
re-equip road.
Connects with the Hartford Street Ry. In Hartford and the
Springfield Street Ry. in Springfield, Mass.
In June 1901 purchased the
East Windsor Street Ry. Co.
Franchises perpetual.
Controlled the 8omers 8c Enfield Electric Ry. Co., which on April 1
1904 was merged In the
Hartford & Springfield Street Ry.
V. 78, p. 1446Also purchased the
First mtge $600,000
SYRACUSE & SUBURBAN RR.—A trolley road.
Longmeadow
1901
Feb. II 1895), bat in May
Electric Ry. (which was incorporated on
stockholders voted to change the name as above, and to
calf, Auburn; V.-P.& Gen. Mgr., W. J. Harvie; Treas., Aud.and
oR<i
[Vol. 111.
ELECTRIC RAILWAYS
134
2439; V. 110,
p.
1289; V. Ill, p. 895.
Sur.orDcf.
Charges.
$34,604
35,167
sur.$1,929
def. 9.531
ROAD.—Operates 18.52 miles of track from Syracuse to Edwards Kalis,
with branch from Orville to Jamesville. Standard gauge; rails, 60 and 90
lbs.; 10 passenger and 7 other cars.
A
toledo,
TOLEDO
BOWLING
GREEN
&
ohio.
TRACTION
SOUTHERN
CO.
,
OFFICERS.—Pres., J. J. Stanley; V.-P. & Gen. Mgr., O. Loomis
V.-P., W. P. Gannon; Treas., Alan C. Forbes; Sec., Willis H,
Mitchell; Aud., G. W. Avery.
C. Loomis Allen operates the road.
V. 107,
Allen;
182, 605, 1482, 2098; V, 109, p. 677; V. 110, p. 2193; V. Ill, p. 295.
p.
tampa, florida.
TAMPA
ELECTRIC CO.
ORGANIZATION.—Incorporated in Florida on Oct. 31
1899.
In
April 1913 purchased the Tampa & Sulphur Springs Traction at foreclosure
•ale.
Does the entire electric railway, electric lighting and power business
In Tampa and operates an electric railway between Tampa and Port Tampa
and a line to Sulphur Springs.
Franchise is for 999 years from 1899.
$233.800 stock is held by tne Public Service Investment Co.
Stockholders voted Jan. 8 1912 to increase stock from $1,700,000 to
$1,870,000.
V. 93, p. 1601.
In Feb. 1913 made a further increase to $2,244,000 and in Jan. 1914 to $2,618,000. V. 98, p. 156.
In Aug. 1917 in¬
creased stock to $2,879,800.
Stockholders of record Sept. 15 1917 were
|lven the right to subscribe for the new stock pro rata at par. V. 105, p.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Q-F 15
$2,874,300 Nov'20,2H
$2,p00,000 ($1,000/ 1908
5g. J-D
956 500 June 1 1933
and $500) gold
e*tf\Int. at Amer. Trust Co., Boston, trustee.
Stock$2,879,800 ($100)
1st
.
mtge
Bonds.—Callable as a whole (or In part for sink, fd.) at 105 and int. at
time.
$173,500 are in treasury.
Sink, fund of 1% of bonds out¬
standing yearly, payable August 1; $100,000 In sinking fund canceled.
ORGANIZATION.—Incorp. In 1001 as a consolidation of the Findla>
Hancock Light
Urban 8c Inter
urban Ry., but rental due April 1 and July 1 1908 having been defaulted
St. Ry., the Toledo Bowling Green 8c Fremont Ry. and the
& Power Co. of Findlay, O.
Formerly leased to the Toledo
lease
EARNINGS.—For 12
Year.
Gross.
1919-20
1918-19
ending June 30:
Net (aft. Tax). Interest.
-$1,387,637
$545,328
$54,455
1,159,080
470,387
53.289
Fare
—
Surplus.
—
$490,872
417,098
53.6 miles of equivalent single track.
Standard
23 other cars.
Owns 2 amusement parks.
Has
14,500 k.w. capacity and hydro-electric station
with 600 k;w. capacity.
ROAD.—Operates
gauge. 106 passenger and
steam power station with
OFFICERS.—Pres.. Geo. J.
H.
Hunt;
Treas.,
Henry B.
Baldwin; V.-Ps.. P O
Knight and Harry
Sawyer; Sec., Geo. A. Peirce: Gen. Mgrs.,
106, p. 397; V. 109, p. 1988.
Stone & Webster Mgt. Assn.—V.
The
Sale.—The road was sold at auction on Dec. 18 1917 to F. F. Downs:
W. J. Yeager and Calvin Green, representing the bondholders.
The sale
consummated and title transferred on July 1 1918 and the property is
was
being operated by Wr. G. Haag
as trustee
for the purchasers.
Fare Increase.—Effective Oct. 1 1920 the
co.lwas
auth. by the Texas RR.
Comm. to increase fares from
Temple to Belton from
between stations in proportion.
V. Ill, p. 1370.
35c. to
49c.
and
In 1918, gross, $36,307; net, after taxes, $3,402.
ROAD.—Operates 13-1 miles of track between Temple and
with loop in each city.—60-lb. Trails.
Standard gauge.
1370.
Tex.,
p.
in Oct. 1920, applied to the P. U. Comm.
lines in Findlay.
Outstanding.
Maturity
$1,125,000
Q-F
750,000
See text
First
mtge $1,500,000 gold? 1901
5 g M-N
1,003,500 May 1 1921
($1,000 and $500)
ntfllnt. at Central Tr. 8c S. D. Co.. Oln., trustee
Toledo 8c Findlay mortgage) 1910
5 J-J
480.000 Jan 1 1936
$500,000 gold
ntf\Unlon Sav. Bank 8c Trust Co., CIn., trustee
Findlay Street 1st cons mfcgef 1899 .
5 g J-D
275,000 Dec 1 1924
$275,000 gold
ntflCentra Tr. & Safe Dep. Co., Cin., trustee
I
Int. at Metropolitan Trust Co., N. Y.
STOCK AND BONDS—
Belton,
V. Ill,
Bonds.—Of the bonds of 1901, $275,000 are reserved to retire Findlay St
The Toledo & Findlay mtge. Is a first mtge. on the property ot
acquired Toledo Urban 8c Interurban Ry.
Ry. bonds.
the
Dividends.—On pref., \M% quar.
1914.
None since.
taxes, $117,187; bond, &c., interest,
ROAD.—Comprises 51 m'les from Toledo to Findlay.
60-lb. and 72-ll>
and girder rails.
Own$ 25 passenger and 6 freight motor cars and 18
freight non-motor cars.
,
T
OFFICERS—Pres., Edward Goepper; V.-P.. Ohas. Kilgour; Sec. A
Treas., A. J. Becht; Asst. Sec. & Treas., Morris McGrew. all of Cincinnati.
Gen. Mgr., Chas. F.
Appointed.—On Sept. 30 1918 Judge W. S. Case in the Superior
Harrison B. Freeman receiver for the
co.
upon application by W. C. Mason & Co. of Hartford, holders of a
$2,500 unpaid claim for coal.
V. 107, p. 1384.
Compare V. 107, p. 1287.
Receiver
Court at Hartford, Conn., appointed
Foreclosure Probable.—On Dec. 20 1918 the receiver stated to the Superior
Court at Hartford that he expected the mortgages against the co.'s property
Oct. 1920.
Smth, Findlay.
1084,1473,1567.
V. 107,
Offices, Findlay, O.—V. Ill, p. 794,
/
,
FOSTORIA
&
FINDLAY
RAILWAY.
ORGANIZATION.—Incorporated in 1900.
In Nov. 1916 purchased the 11 j^-mile line of the Lake Erie Bowling Green
& Napoleon RR., between Pemberville and Bowling Green (bid in at re¬
ceiver's sales on Aug. 5 1916 by the bondnolders.
V. 103, p. 666. 1032:
V. 103. p. 1889.
Fare Increase.—In July 1918 was auth. by the
increase its mileage charge, effective Aug. 1 1918.
Stock
common
Date.
Interest.
($1.000)
c\
Ohio P. U. Comm.
V. 107, p. 403.
Outstanding.
$700,000
800,000
($100)
Stock pref 5% cum ($100)
First Mortgage $450,000 gold/
Q-J
to
Maturity.
See text
1900
6 g A-O
365,000 Oct 1 1940
Int. at Cleveland Trust Co., Cleve., trustee
Bonds may be called at any time.
Originally matured Oct. 1 1920 and
Sinking fund began
$85,000 bonds have been retired.
Dividends.—1M % is being paid quarterly
thompsonville, connecticut.
which interest is in default to be foreclosed shortly.
1919, gross, $547,608; net, after
$91,775: bal., sur., $235,412.
In 1918,
$490,101: net, after taxes, $122,631; bond, &c., interest, $90,825;
bal., sur., $31.806.
gross,
bore 5% int. but were extended for 20 years at 6%.
HARTFORD & SPRINGFIELD STREET RY.—A trolley road.
upon
from Aug. 1910 to and Including Aug.
EARNINGS.—For year ending Dec. 31
July 1 1905.
No developments up to
Interest.
Date.
Common $1,500.000
Pref $750,000 (non-cum)
STOCKS AND BONDS—
EARNINGS.—For calendar year 1919, gross, $46,701; net, after taxes,
$8,971.
co.
TOLEDO
temple, texas.
SOUTHWESTERN TRACTION CO.—A trolley road.
1918 was auth. by the Ohio P. U. Comm. to
charge, effective Aug. 1 1918.
V. 107. p. 403.
for auth. to abandon its
V. Ill, p. 1473, 1567.
Increase.—In July
increase Its mileage
mos.
Sink. Fund.
canceled.
property was afterwards purchased by Toledo Bowling Green 8c Southern
Traction Co., and the latter company assumed its bonded debt.
V. 83 p.
1439; V. 89, p. 105, 412.
In Feb. 1915 was granted a new franchise for 25 years In Findlay.
The
old franchises had 10 years more to run, but were canceled.
In Oct. 1916 the Ohio P. U. Comm. auth. the issuance of $141,500 addi¬
tional 1st M. 5s for impts. and the discharge of obligation®,
Up to Oct. 1
1920 these had not yet been issued.
any
Dividends.—5% semi-annually for several years up to Nov. 1907, wheD
a div. of 2% was paid.
In 1908. 7%; in 1909. 7%; in 1910. 8%; in 1911.
and since, 10%.
was
The entire property of the Toledo Urban 8c Interurban Ry. was sold on
Aug. 23 1909. under foreclosure, to the Toledo 8c Findlay Ry. Co., whlcb
p.
2476.
EARNINGS.—For calendar year:
Calendar Year—
Gross
—
Net, after interest and taxes.
on
preferred stock.
1919.
.$307,611
45,452
1918.
$267,494
35,223
1917.
$263,724
44,060
ROAD.—Operates 64 miles between Bowling Green, Toledo,
and Findlay.
in June 1908.
Fostor'.a
Portions between Pemberville and Toledo put in operation
OFFICERS.—Pres., H. C. Greer, Morgantown, W. Va.; V.-P., C. C.
Fernsell Jr., Dover; Sec. & Treas., A. J. Krantz, Dover; Mgr.. E. Smith.
Fosteria.—V. 78. p. 704; V. 103, p. 1889; V. 107, p. 403.
OCT., 1920 j
TOLEDO
&
ELECTRIC
INDIANA
RAILROAD
CO.—A trolley road.
ORGANIZATION.—Incorporated In Ohio in Jan. 1911 and on June 2V
1911 took over the Toledo & Indiana Traction Co.
(V. 93. p. 230), assuming
all of latter's liabilities. &c.
The Toledo & Indiana Traction on Feb
2
1910 was successor of the Toledo & Indiana
Railway, sold under foreclosufon Jan. 18 1910.
V. 90, p. 237, 448.
Most of road Is on private right of
way.
Franchises are perpetual except one for road crossings In Fulton
County, expiring? in 1935.
Freight Rates.—Effective Doc. 8 1918
approximately 10%.
STOCK AND BONDS—
Stock $500,000 ($100)
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Q-J
$1,04u,000
See text
mortgage[ 1911
5 g J-J
400.000
Jan 2 1931
$400,000 gold ($1.000)—c*\Int. at Columbia Trust Co
N. Y..trustee
.
Bonds.—Toledo & Indiana Traction 1st M. bonds are
subject to call at
on any int. date,
V. 92, p. 1244, 1375.
102H and Int.
Dividends.—Dividends at the rate of 4% per
including Dec. 1916.
None since.
annum
Stock.—The
$500,000
outstanding
reported
year 1919, gross $353,828: net, after taxes,
$59,651; bond int., $20,000: bal., surp., $39,651.
In 1918, gross $295,698;
net after taxes, $39,923; bond
int., $20,000; bal., sur., $19t923.
Enters Toledo
over
tstx6s
by
the
Pa.-N. J.
$19 ■ 122
OFFICERS'.—Pres.,
p.
176; V. 96.
Sydney
Wright,
L.
V.-P.
Phila.;
&
Gen.
Mgr.,
1557; v. 104. p. 257. 2641: V. 106. p. 2229: V. 107. p. 1101.
p.
2290.
V:
of track from Toledo westerly to Bryan
tracks of Toledo
held
is
as
Gavlord Thompson, Trenton; Sec. & Treas., John M. Morrissey.—V. 95,
F2r^calendar
ROAD.—Operates 55.77 miles
•
follows: N. J. & P. Trac. In Trenton
and Lambertville, 1.70 miles;
Trenton Lawrenceville & Princeton RR.,
9.56 miles; Tren. Law. & Princeton Extension RR.. 1.46 miles, aud Prince¬
ton St. Ry., 0.53 mile.
Gauge, 4. ft. 8H in *. 70 and 80-lb. T rail and 90-lb.
girder.
EARNINGS.—For year end. Dec. 31 1919 (Princeton Division), gross,
$123,339; net, after taxes, $23,905.
In 1918. gross. $101,741; net. after
paid to aod
were
Maturity
Outstanding.
$500,000
Ry. Co.
ROAD.—Comprises 13.25 miles,
Stock $1,040,000
lol & Ind Trac 1st
auth. to increase freight rates
was
Interest.
Date.
First mtge (See text) gold
I 1902
4 g M-N
000,000 Nov 1 1932
f$l,()00)
C*tf lint, at Trenton Tr. & Safe Dep. Co.. trustee.
The 1st M. was originally for $3,000,000, but has been closed at $600,000.
.
Effective July 22 1920, fares were advanced from
2}4 cents to 3 cents per
V. Ill, p. 390.
mile.
135
RAILWAYS
Railways & Light Co.
TROY
OFFICERS.—Pres., L. R. Schenck; V.-P. & Gen. Mgr., II. C. Warren
V.-P., S, D. Carr: Sec., C. F. Chapman, Jr.; Treas., H. W. Potter; Aud.
C. B. Kleinhans all of Toledo.
Y. 108, p. 1166; Y. Ill, p. 390.
NEW
&
troy
n.
y.
RAILWAY.—A trolley road.
ENGLAND
Road passed into hands of receiver Jan. 31 1906.
>vas
On July 1 1907 control
acquired by the Del. & Hudson Interests, all Indebtedness was adjusted
V. 85, p. 100.
ind receiver discharged.
,
Mostly private right
ORGANIZATION.—Incorporated Dec. 17 1889.
Franchises perpetual.
of way.
trenton, n. j.
STOCK AND BONDS—
TR£^Tr?^£J^RClER BOUNTY TRACTION
CORPORATION.
ORGA NIZATION.—Incorp. on Oct. 6 1910 in New
Jersey with $10,000
utock ($100). increased in Nov. 1911 to
$400,000. of which $200,000 is pre'
V. 93, p. 1260.
On Oct. 15 1910 leased for 990 years Trenton Street Ry
Mercer County Trac., Tren. Ham. &
Ewtng Trac. and Trenton Pennington
& Hopewell St. Ry. at a rental of $80,000 the
1st year, $82,500 the 2d. $85.
000 the 3d. then increasing $5,000 yearly until the maximum of
$150,000
Is reached
In Jan
1918 failed to pay rental on the Trenton Street Ry.
properties
but was granted an extension of time until
April 1 1918 and then to July J
1918 in which to make payment.
(Up to Oct. 1 1920. we are informed
this had not been paid.)
Fares.—Effective Oct
15 1918, was aufch^ by the N. J. P. U. Comm
discontinue the 5-cent fare with 6 tickets for 25 cents and to establish
a straight 6-cent fare instead.
V. 107, p. 1288.
In Oct. 1918, however.
Justice Prenchard in the Supreme Court at
Trenton, N. J., allowed the
city of Trenton a writ of certiorari to review the P. U. Comm.'s action In
granting this increase.
A stay was issued at the same time which prevented
the co. from collecting the 6-cent fare unless a
receipt was given to each
Interest.
Outstanding.
Maturity.
Stock $350,000 ($100)
$180,000
See text
First mortgage $L6(),000 gold \ 1895
5 g F-A
160,000 Aug 1 1945
$500
j,_-\Int. at office of company, Albany, N. Y.
Dividends.—In
1912
1910
Jan.. 4%.
In 1911, Jan.. 4%; Dec.. 44*%.
In 1913. 2%.
In 1914, 2%.
Nooeslnce.
Dec., 3%.
EARNINGS —For cal.
Year—
Net.
$36,428
33,037
1918
Oth. Inc. Chgs.&Taz.
$830
5,946
$332
$12,180
325
12,000
Deficit
$11,018
5,729
—Total track
ROAD
65-lb.
Including sidings, 9.15 miles: standard gantre
rail; running from Albia to Averill Park.
Operates
21
(18 owned, 3 leased).
In
years
Gross.
1919
with
Date.
laid
cars
„
to
OFFICERS.-^-Pre-!., L,. F.
Serson for the extra fare charged. V.Court p. 1182.theOn Oct. 22action
ustiee Swayze in the N. J. Supreme
107, upheld
1918
Comm.'s
and
on
Mar. 3
Appeals.
1919 this decision
V. 108,
P. U. Comm.
to
p.
974.
was
was
auth.
Favorable Tax Decision.—See V.
106. p.
an
1345
Junction, Ponnington. Hopewell, Lawrenceville, Princeton and
Square.
The new tracks have 90-lb, Johnson girder rails.
Hainiltor
1580
Street Ry.—Trolley.
The United Power & Trausporta
19,969 out of the 20.000 shares of stock outstanding.
(see above).
ORGANIZATION.—Formed June 29 1898 by consolidation of the Tren¬
Passenger Ry., Mulberry Street Passenger Ry., Pennington Avenue
Passenger Ry. and Ewing Passenger Ry.
On June 19 1899 the Mercer County Traction
Company was formed
with a capital of $100,000 to enable the Trenton
Street Railway Company
ton
build
an extension of 1142 miles Into
Princeton and in the city of Tren¬
The entire stock Is owned by the Trenton Street
Railway.
Is oper¬
ated as a part of Trenton Street Ry.
system.
In June 1903 acquired entire
ton.
capital stock($250,000) of Trenton Pennington & Hopewell St.
Ry., which
is also operated as part of the Trenton St.
Ry. System and whose bonds it
guarantees, d. & i.
Also on May 1 1906 acquired entire
capital stock
($200,000) of the Trenton Hamilton & Ewing Traction Co., operated as
part
of Trenton St. Ry. System,
guarantees Its bonds, principal and interest.
In Aug. 1911 increased auth. stock from
$1,000,000 to $2,500,000.
STOCK AND BONDS
Date.
Stock $2,500,000 (par $50)
Trenton Passenger first mtge]
gold
($1,000!
Consolidated
1891
mortgagef 1898
I
Maturity
1921-1925
75,000
($15,0U0 due yly Sept. 30
89.000
1926-1930
($20,000 due yly Sept 30
650.000 Sep 30 193]
6 g A-O
5 g J-J
c*{ Interest in "Tren ton
r
Outstanding.
$1,000,000
Nat.]
J
I
gold $2,000,000 ($1,000)
„
Interest.
--C*{
Bank, Trenton, N
aV Mechanics1^National
Bank; Girard Trust Co.,
trustee.
Trenton St Ry geu M $500,-/ 1911
6 J-D
500,000 June 1 1941
000 gold ($1,000)
c*\Bankers Trust Co., New York, trustee.
Guaranteed Bonds—
Trenton Pennington & Hopef 1903
5 g J-D
350,000 June 1 1943
first
mortgage
$350,000 Int. at
Fidelity Trust Co.. Newark, trustee
Guar., prin. & int., by Trenton Street Ry.
1905
5 g M-N
405,000 Nov 1 1955
$500,000 ($1,000) goId__c*jlnt. at Real Est. T. I. & Tr.
Co., Phila.,trus.
Mercer Co Tr 1st M $300,0001 1904
5 J-J
300,000 July 1 1944
gold ($1,000) guar p & l_c»lReal Est. Tit. Ins. & Tr. Co.. Phila.,
trustee.
gold
perpetual and the gas anil electric franchises are of 30 years" duration.
electric-lighting contract with the city of Tuscaloosa.
Power Is pur¬
Co., the co.'s own.
plant being maintained as an auxiliary.
Has
STOCK AND BONDS—
Stock
—
1915
OFFICERS.—Pres., John A. Rigg; Sec. & Treas., T. W. Grooker, jr.
—V. 93, p. 797; V. 94, p. 828; V. 105,
p. 2273; V. 106, p. 1901, 2230.
NEW JERSEY & PENNSYLVANIA TRACTION
CO.—A trolley road.
Owned by Pennsylvania-New
New Jersey on Nov. 14 1901 and
Trenton Lawrenceville & Princeton RR„ the Trenton Law¬
Princeton Extension RR. and the Princeton Street
Ry.
On May 13 1913 the Trenton New
Hope & Lambertville St. Ry., Yardley
Morrisville & Trenton St. Ry. and the Newtown &
Yardley St. Ry. for
merly owned, were taken over by the Bucks County Interurban
Ry.
See
^^pa?^un^r^^own'.Pa-" °n May 15 1917 the co. transferred
$500,000 of its $1,000,000 capital stock to the Bucks
Co.
Interurban
Ry. (now Pa.-N. J. Rv. Co.), the other $500,000
being surrendered and
canceled.
Franchises
are
perpetual, except in Trenton, which
244,192
—V.
103,
p.
to
p
2290
Net.
$102,580
85,611
Interest.
$58,158
58,158
Surplus.
$44,422
27,453
vicksburg, miss.
VICKSBURG
LIGHT
TRACTION
&
CO.
ORGANIZATION.—Incorp. In Miss, on July I 1912. taking over the
Vicksburg Trac. Co., Vicksburg Lt. & Pow. Co., Vicksburg & Yazoo Trac.
Co. and Electric Power Co.
Operates the entire street railway and electrlcllghtlag business in Vicksburg and suburbs.
Franchises in Vicksburg run
to (a) street railway, 1948. (b) lighting. 1946
For railway outside the city
has graut from United States Government.
Date.
STOCK AND BONDS—
Interest.
Outstanding.
Maturity.
$1,000,000 ($100) —.
*^000.000 T-.—3-755S
$1,500,000 goluj 1912
5 J-J
795.000 July 1 1932
($500 and SI ,000)__-_c*tf t Iut. at Central Tr. Co, of 111., Ohic., trustee.
Stock
-
First
----
------
mtge
Debenture
bonds
$400,000] 1912
6J-J
_
278,000 July 1 1922
gold ($1.000)
c*tf t Int. at Central Tr. Co. of HI.. Ohic., trustee.
Bonds.—$705,000 1st mtge. bonds are reserved for additions and exten¬
sions at 85% of cost.
Red. at 105 and Int. on any int. date.
V. 95, p. 49.
Debentures are red. at 101 and int. on any int. date.
See V. 96, p. 488.
EARNINGS.—12 months ending
Dec. 31;
$209,713
1917.
$198,888
1916.
$187,435
53,528
59.268
72,108
1918.
Gross
Net,
after taxes.
ROAD.—Owns and operates
11 miles of track; standard gauge; mostly
80-lb. T rails; 20 cars.
OFFICERS.—Pres.. I. O. Elston Jr.; V.-P. & Treas., J. N. McCallum;
Sec., O. G. Johnson; Gen. Mgr., E. S. Myers.—V. 95, p. 49; V. 96, p. 287,
488; V. 99. P. 200. 895; V. 103, p. 240.
vincennesT ind.
VINCENNES
TRACTION
CO.
01
■
Receivership.—In July 1919 Judge A. B. Anderson in the U. S. Dist.
Court appointed E. C Cheobold of Vincennes, receiver for the co. on petition
of the Mercantile Trust Co., St. Louis, Mo. V. 109, p. 174.
ORGANIZATION.—VIncennes Citizens' Street
Ry. purchased the Vin
Trac. & Light Co. in Dec. 1909 and changed name to Vincennes Trac.
New company issued $350,000 stock and canceled all com. & pref. of
Vincennes Trac. & Light Co. except 5 shares common representing certaiD
cennes
Co.
charter and franchise
rights.
8TOCK AND BONDS—
Stock
Vin T & L ref mtge
($1,000)
Franchises expire 1931.
Date.
-
Interest.
Q-J
Outstanding.
$350,000
gold
($500)---c*\lnt. at Columbia Trust Co., N. Y.t trustee.
Bonds.—Of the refunding bonds $200,000 are reserved to retire
Citizens' Street Ry. issue and $350,000 for
treasury
Maturity
See text
$600,000] 1906
5 g M-N
3.5.000 July 1 1923
c*\Int. at Mercantile Tr. Co., St. Louis, trustee.
1st mtge] 1903
5 J-J
200,000
Jan 1 1923
Vin Citizens' St Ry
1953.
eliminate commutation
tickets, effective May 27 1918.
On Dec. 8 1918"the rate was advanced
to
7 cents per zone in order to enable the co. to
meet the increased wage-*
awarded its employees by the War Labor
Board.
V. 107
----------
1120.
$200,000 gold
runs
Trust
$177,304
158,581
$279,885
-
1918
>
Fares.—On Feb. 23 1912. owing to a Court
decision, redu vd fares frotu
Trenton to Yardley from 10 to 5 cents.
V. 94. p. 631.
This decision wa>
reversed by the New Jersey Court of Errors and
Appeals on Nov 18 l )i*>
J?,*?an*^913« in r&iPonKe to a petition by the receivers, the Board of Public
Utility Commissioners fixed the rate of fare between Trenton and
Princeton
at 15 cents Instead of 10 cents, and on Oct.
10 1916 the Board auth an
Increase to 20c., providing for 4 fare zones and
continuing the sale of com¬
mutation ^tickets at 12 for $1.
On May 10 1918 was auth.
by the N. J.
P. U. Comm. to increase fares from 5 cents
to 6 cents in each of the
4
zones
between Trenton and Princeton and to
J-J
g
EARNINGS.—For years ending Dec. 31;
Year—
Gross.
Expenses.
1919
Jersey Railway Co.
ORGANIZATION.—Incorporated'in
renceville &
6
Bonds.—Remaining bonds are reserved for exts., equip, and impts. at
80% of cost.
Red. at 102 and int. on any int. date.
See description of
bonds and property in V. 102, p. 1898.
,
Bonds.—$855,000 consolidated 53 of 1898 are reserved to retire first 6fTrenton St. Ry. gen
M. bonds are subj. to call at 105 & Int. on any Inf.
day.
V. 93, p. 797.
Are listed on Phila. Stock Exchange.
Mercer
County Trac.. Trenton Pennington &
Hopewell and Trenton Hamilton &
Ewing Trac. bonds are guar. p. & i. by end. by Trenton Street
Ry.
V. 94.
p. 826, 1696.
Outstanding.
Maturity.
$300,000
969.300 July 1 1940
Co.. Philadelphia, trustee.
Interest.
Date.
$300,000--
First mtg $1,000,000 ($1,000,1
guaranteed
Trenton Hamilton & E 1st Ml
acquired the
consolidation of the bel*
as a
chased under long-term contract from the Alabama Pow
$500 and $100) gold..c*tf' Republic
Interest at Mechanics
1915
belt and terminal railway, handling freight and passengers to and from all
railway nations and has Interchange tracks with all steam roads entering
Tuscaloosa; extends to, the town of Holt; total miles operated, 14.
Also
supplies without, competition electric light, gas and ice to Tuscaloosa and
suburbs.
Capacity of co's Ice plant, 60 tons per day; of biased plant
30 tons per day; total daily capacity, 90 tons.
The railroad franchise
1513.
$1,000,000
each)
ala.
UTILITIES CO.
&
ORGANIZATION.—Incorp. In Oct.
Trenton
Lease.—Is leased to Trenton & Mercer
County Trac. Corp.
to
RAILWAY
Is
OFFICERS.—Pres., Rankin Johnson.—V. 107, p. 1288. 1482,
1670; V. 108, p. 974, 1512; V. 110, p. 79, 262, 563; V. Ill, p. 494.
V. 91. p.
William*,
a
year 1919, gross, $1,166,806: net, after taxes,
In 1918, gross, $884,349; net, after taxes, $203,840.
owns
H.
railway formerly owned or controlled by the Birmingham-Tuscaloosa Ry.
<fc Utilities Co., and the Tuscaloosa Ice & Lt. Co.
The railway was operated
as a steam line until
1914. when tt was extended and electrified; It Is strictly
ROAD.—Owns and controls by lease about 72 miles of track, comorislnn
all local street railway in Trenton and interurban lines
to Yardville, Trenton
1)
TUSCALOOSA
extra
*
EARNINGS.—For cal.
Mon Co
W
bv the N. J.
increase fares in Trenton from 6 to 7 cents with
charge of 1 cent for initial transfers.
V. 110, p. 79.
Equipment Trust Certificates.—See V. Ill, p. 494.
$185,167.
tuscaloosa,
affirmed bv the Court of Errors and
Effective Jan, 4 1920,
Loree. New York; V.-Ps..
N. Y., and H. B. Weatherwax, Albany; V.-P. & Asst. to Pres., W.
B.
Schofield, N. Y.; Sec., F. M. Olyphant; Aud., D. L. Waters, Albany;
Treas., C. A. Hoag, Albany; Comp., W. E. Eppler, N.'Y.; Gen. Mgr.,
A. E. Reynolds. Albany.—V. 83, p. 437; V. 85, p. 100.
improvements;
Subject to call at 102H.
of company.
Vincennes
$15,000 are In
No sinking fund.
Dividends.—Initial div.— H%—paid Oct. 1910 and same amount quar.
to
and Inch July 1
1912, Jan.. *{%'.
Jan..
H%1 April.
1911.
April.
&%.
EARNINGS.—For cal.
$11,750;
balance, $8,889.
In Oct. 1911 dir. increased and paid ^%In
July. H%.
In 1913. Oct.. M%.
In 1914.
No later Information.
1913. gross. $69,579; net, $20,639; Interest.
No later statement has been received.
year
ROAD.—Operates about 10 miles in city of Vincennes.
58,
Various extensions have been proposed.
70-lb. T rail.
Standard gauge.
OFFICERS.—Pres., 8. A. Culbertson; V.-P. <fe
M. T, Caldwell.—V
88, p. 1004; V. 109, p. 174.
Mgr.. 8. 8. Bush; Sec.
ELECTRIC
13*
VIRGINIA, MINN.
RAILWAY CO.
ORGANIZATION.—Incorp. June 27 1914 in Mass. as a reorganization
of the Mesaba Electric Ry. Co. of Maine and the Mesaba Ry. Co. of Minn
MESABA
acquired ail the property of those two companies, assumed their oblige
now operates the passenger and freight electric road on the Me3aba
Range, Minn., connecting the towns of Hibbing, Chisholm, Buhl,
Mountain Iron, Virginia, Eveleth, and Gilbert, a distance of about 35 miles
Road Is on private right of way except in towns, with steam road construe
tion.
Placed In operation March 1 1913.
It
tlons and
Iron
STOQK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
$2,500,000 ($100)_$1,575,000
$1,250,000 ($100) 7% (cum)
685,000
Mesaba Ry 1st M $2,500,000/ 1912
5 g M-S
1.195.000 Mar 1 1932
gold ($1,000) sink fd_.c*tf lint, at Amer. Trust Co., Boston, trustee
Bonds.—$101,000 in sink. fund. Remaining bonds are reserved for future
adds., irnpts., Ac. Subject to call as a whole or In part for sinking fund
at 105 and int.
Sk 01. 2'4'Z> of total bonds certified, began Jan. 1 1917
Common
Pf
..
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
Net (aft. Tax.).
Interest.
1918
1917
.
$56,073
58,190
$110,264
133,311
$261,004
287.925
Malnt. Res.
$11,777
20,791
Surplus.
$42,415
54,329
OFFICERS.—Pres., O. Mitchell; V.-I\, R. W. Watson; Sec., Janet
Macauley; Treas., P. L. Saltonstall; Asst. Treas's, L. E. Flint and J. O.
Bergeson; Clerk, L. E. Flint; Asst. Sec., R. Haydock; Gen. Mgr., L. W,
Hayes.—V. 99, p. 120.
'
WARREN
& JAMESTOWN
WARREN
PA
STREET RAILWAY CO.
ORGANIZATION.—Incorporated In New York and Pennsylvania and
Jan. 15 1904.
Private right of way, except in Jamestown,
franchise and 3 or 4 miles of public right of
way.
for which perpetual franchises are held.
In 1918 Issued $100,000 10-year 6% bonds to retire a like amount of 2d
mtge. bonds which fell due on Jan. 1 1918.
consolidated
where company has a 50-year
Interest.
Outstanding.
Maturity
$200,000
See text
5 J-J
300,000 July 1 1934
I Interest at Warren (Pa.) Trust Co., trustee.
Dates
STOCK AND BONDS—
$200,000 ($100).
Stock
First
/
mortgage $300,000
1904
1928
2d mtge. gold bonds....
1918
6%
100,000 Jan 1
Dividends.—In 1808, 4%; in 1909. 8%; In 1910, 8%; in 1911, Jan..
in 1912. Dec., 2%: In 1913, July. 4%: In 1914. 8%: In 1915 and 1916,
n
EARNINGS
For years
ending Dec. 31:
'
Int. ATax. Rentals
Gross.
Net.
$119,584
130,000
Year—!■
1918
1917
2%;
6%;
None to Jan. 1919 when 3% was paid; July 1919, 3%.
1917, 6%.
$31,826
52,913
IJivs.i6%)
$7,620
8,095
$2*>,515
27,855
$12,000
Sur.orDef.
def.$4,310
4,964
sur.
ROAD.—Operates 214 miles of track from Warren, Pa., to Jamestown,
N. Y.
Enters Warren over tracks of Warren Street Ry.
Does an express
business.
Standard gauge.
70-lb. rails.
6 cars.
V.-P., Homer M.
all of Warren.—V. 86. p. 482.
OFFICERS.—Pres. & Gen. Mgr., David H. Biggins;
Preston;
Sec., Treas. & Supt., 8. Q. Smith,
WARSAW, IND.
WINONA
INTERURBAN
RAILWAY CO.
Default.—Oct. 1 1915 Int. on Peru Dlv. bonds, and Jan. 1 1916 Int. on
The proposed plan of reorganization(V. 101,
p. 1190) was not approved by the committee for Goshen Dlv. bonds.
Receiver.—O. J. Munton was appointed receiver on July 25 1916 on the
petition of the First Trust & Savings Bank, Chicago, and E. K. Bolsot,
trustees, in suit to foreclose mortgage on Goshen Division.
V. 103, p. 408.
Committee for Goshen Div. lsf Mtge. 5s.—J. D. Mortimer, Pres. North
American Co., N. Y., Chairman; H. H. Phillips, 209 So. La Salle St..
Chicago. Sec.; Central Trust Co. of Illinois, Chicago, depositary.
V. 101.
Goshen Dlv. bonds defaulted.
p.
1975.
ORGANIZATION.—Entire common stock Is held by directors.
Fran¬
chises are for 50 years.
Leases the Winona & Warsaw Ry. ($10,000 stock
and $44,000
1910.
Fare
bonds), operating 4*4 miles of track, for 99 years from Jan. 1
May 1919 was auth. by the Ind. P. S. Comm. to
mile to 2.75 cents a mile; to charge
straight 5-cent fare in Peru; to establish a 10-cent minimum fare, for interurban service, &c.
V. 108, p. 2242.
Compare V. 107, p. 802.
In Oct.
1920 was auth. to raise passenger fares to 3 cents per mile.
Increase.—In
Increase passenger fares from 2.5 cents per
a
Outstanding.
Maturity.
See text '
$150,775
1905
5 g J-J
750,000 July 1 1925
gold ($500 and $1,000)
lint, at First Trust & Sav. Bank, Chic..trust.
Peru Division first mortgage/ 1906
A-O
1,593,700
Oct 1936
$2,000,000 gold
..(Union Trust Co., Indianapolis. Ind., trustee.
Bonds.—Goshen Division bonds are a lien only on the section of road be¬
tween Warsaw and Goshen.
Of the amount reported outstanding, $52.0C0
are unsold but used as collateral for loans.
Are subject to call at 105 and
int. on any Int. date.
Peru Division bonds are a lien only on section of road
between Peru and Warsaw.
Amount reported1 outstanding Includes $290.STOCK AND BONDS—
Common $600,000 ($100)
Interest.
Dale.
—
Pref $600,000 6% cumulativeGoshen Div 1st M $750,000?
200 bonds sold and $1,303,500 used as collateral for loans.
EARNINGS.—For
after taxes, $38,932.
year
ending
Dec.
31
1919,
gross,
$280,835; net,
In 1918, gross, $247,745; net, after taxes,
ROAD.—Operates 70 miles between Goshen and Peru.
$25,791.
Leases 4*4 miles
of track between Warsaw and Winona Lake.
Aud.. H. O. Welmer
408; V. 107, p. 802; V. 108, p. 2242.
OFFICERS.—Gen. Mgr., J. C. Schade, Warsaw;
—V. 101. p. 1093,1190,1975; V.
103.
p.
[Vol. 111.
RAILWAYS
In Feb. 1920 was auth. by the P. U. Comm. to issue $341,000 gen.
Impt. 6s, proceeds to be used to reimburse co. for expenditures already
made and for the purchase of equipment.
V. 110, p. 1090.
These had
not been issued to Oct. 7 1920.
Fares.—On Sept. 14 1918 applied to the P. U. Comm. of the District of
Columbia for auth. to abolish the 6-for-a-quarter tickets and establish a
straight 5-cent fare. V. 107, p. 1386. Compare V. 107, p. 803.
This appli¬
cation was granted
the straight 5-cent fare, becoming effective Dec. 1
1918.
V. 107. D. 2189.
On May 29 1919 was auth. by the P. U, Comm. of
the District of Columbia to charge 2 cents for transfers.
Effective Nov. 1
1919 was auth. by the P. U. Comm. to increase fares to 4 tickets for 25
cents or 7 cents for a single cash fare; transfers between the co.'s lines to
be free, while inter-company transfers are subject to a charge of 2 cents.
V. 109, p. 2358.
On May 1 1920 the co. was authorized to increase fares
to 8 cents cash with 4 tickets for 30 cents.
These rates continue until
Jan. 1 1921.
V. 110, p. 1749, 2489.
.
STOCK AND BONDS—
Common
$6,500,000
Interest.
Q-M
Date.
I
($100)
„
„
Pref 5% cum $8,500,000($10G)
Consol mortgage $17,500,000/
Outstanding.
$6,500,000
Q-M
8,500,000
Maturity.
See text
See text
1902
4 g J-D
11,642.350
Dec 1 1951
($1,000 & $500) gold__c*tf! Int. at U. 8. Mtg. 8c Tr. Co., N. Y., trustee.
1918
6 g J-D"
1,000.000 Dec. 1 1923
mtge $5,000,000 ($500
and $1,000) g
c*tf Mercantile Trust & Dep. Co., Bait., Trustee
1895
5 g F-A
Met RR 1st mtge ($1,850.1,850.000 Feb 1
1925
000) gold ($1,000) not sub¬ Interest at Baltimore Trust & Guarantee Co.
trustee, Baltimore.
ject to call
c*tf
1899
5 g A-O
Anacostia 8c Potomac River
2,979.000
Apr 1 1949
first mtge $3,000,000 golds Int. at Baltimore Tr. & Guar. Co., trustee.
May be called at 1124.
($1,000) sinking fund.c*tfl
Stock and Bonds.—The preferred stock became cumulative on June 1 1904;
The remainder of the consol. bonds ($5,857,650) are reserved for the retire¬
ment of underlying liens.
Entire* issue Is subject to call upon 3 months
notice on any interest date at 105 & interest.
Of the 5-yr. gen. mtge. bonds. $150,000 in addition to the $1,000,000
outstanding has been issued and pledged for a loan of $131,071 from the
U. S. Housing Corp.
Bonds may be Issued for 75% of the cash cost of
exta., addns. and betterm'ts, but only under certain restrictions.
During
the life of these bonds no additional underlying bonds may be issued.
Red. all or in part at 101 and int. upon 8 weeks' notice.
Listed on the
Washington Stock Exchange.
A portion of the property covered by the Met. RR. 1st mtge. may be
sold and proceeds applied to a sinking fund for the retirement of the bonds
at not exceeding 110 and Int.
Bonds cannot be drawn.
Of the Anac. 8c
Potomac River bonds, $462,000 are guar., p. & L. by Washington Ry. &
Elec.
V. 87, p. 36.
$21,000 have been canceled.
Gen
Dividends.—On pref. at rate of 5% per annum since Dec. 1 1904 to and
incl. Dec. 1919.
In Aug. 1920 24% was paid.
This represents the quar¬
terly divs. of 1 %% due Mar. 1 and June 1 1920.
No action taken on the
div. due Sept. 1 1920.
V. Ill, p. 991.
V. 110, p. 765.
On com., 1st
div. was paid Dec, 1 1909; in 1910, 2%; in 1911, 2%: in 1912, 4%; in
1913, March, 1%; June, 14%: Sept., 14%: Dec., 14% and 1% extra.
In 1914 and since to and incl. 1916, 7%.
In 1917, 634%.
In 1918. 5%.
In
1919, March,
1&%.
None since.
Potomac
Electric
Power
Company.
Date.
Interest.
Outstanding.
Maturity.
gold/ 1904
5 g J-D
$1,700,000 June 1 1929
($1,000)
c.tf\Int. at Comm. Tr. Co.. Jersey City, trustee.
Cons mtge $7,000,000 gold/ 1906
5 g J-J
5,300,000 July 1 1936
($1.000) gu p 8c i by Washllnt. at Commercial Trust Co., Jersey City,.,
Ry & Electric Co
c.tfi
trustee.
Gen mtge $5,000,000 ($100.1 1918
6 g J-J
3,600.000
July 1 1923
$500, $1,000) gold
tf/Guaranty Trust Co., New York, trustee.
Gen'l impt. debentures
1915
6 F-A 1
750,000 Jan
1 1925
BONDS—
First mortgage (see text)
Bonds.—The first mtge. bonda are red. any Int. datq at 110 & Int.
Auth
originally $4,000,000, but was subsequentlVreduced to $1,700,000.
$7,000,000 new consols, $1,700,000 are reserved for prior liens
They are guar., prin. and Int., by Washington Ry. 8c Electric Co.
A
sinking fund of 2% per annum of bonds outstanding began Jan. 1 1908.
On Oct. 1 1930, $665,000 were held alive in sinking fund.
See V. 83, p.
100.
The general mtge, bonds in the denomination of $1,000 are registerable as to principal.
The escrow bonds may be issued for only 75% of
the cash cost of extensions, additions and betterments.
The mortgage
provides for a maintenence and depreciation fund of 16% of the company's
annual gross operating revenue which began in 1918.
Red., all or in part,
at any time on 8 weeks' notice at 101 and int.
Interest payable in N. Y.
or Washington, D. O.
V. 107, p. 701.
The Gen. Impt. debentures are
guar., p. & i., by the Wash. Ry. & Elec. Co., and are equally secured with
the Gen. Mtge. bonds; red. at 10234 on any int. date.
Earnings of the
Potomac Electric Power Co. have been as follows:
Calendar
Year—
1919.
1918.
1917.
Gross receipts—.
$3,683,295 $3,071,814 $2,639,587
Net available for interest...
1,246,018
1,121,425
1,133,782
Issue
Of
was
the
-
Annual
interest
charges
on
outstanding bonds,
including the $3,600,-
000 gen. mtge. bonds now amount to $611,000.
Property, Ac.—The Washington Ry. 8c Elec. Co. controls the principal
street railroads In the District of Columbia and also the Potomac Elec. Pow.
Co. which alone Is operating, or authorized to operate, In the national
capital and which controls the Great Falls Power Co. with undeveloped
water power on Potomac River.
The railroad companies have 176.52 m.
of track (all under electric traction), while the el«ctrlc light company has
298 miles of subways with aboutl,025 miles of ducts, besides many miles of
overhead wires.
Owns 710 cars.
No. of meters Dec. 31 1919, about 41,559,
Generating capacity of power co., 90,000 k. w.
The following shows the total outstanding stock of the companies con¬
trolled and the amount of the total shares acquired in each instance by the
Washington Ry. & Elec. Co. up to Dec. 31 1919
Am't Not
MileAmount
Capital
Owned
Stock.
Owned.
Name of Company—
age.
$162,950
$37,050
Georgetown & Tenallytown RR
8.50
$200,000
None
275.000
275.000
Washington & Rockville Ry
14.436
67,350
1,682,650
1,750,000
xCItr & Suburban Railway
.41.593
197,150
200,000
2,250
Washington & Glen Echo RR
a50,000
50,000
Washington Interurban RR.
8.445
_
WASHINGTON,
WASHINQTON
RAILWAY
&
D.
C.
ELECTRIC.
Total
ORGANIZATION.—Incorporated as the Washington 8c Great Falls Elec¬
tric Ry. Co. JulyrA29 1892 by special Act of Congress; name changed to Wash¬
ington Ry. & Electric Feb. 1 1902.
In 1902 acquired control of the Poto¬
mac Electric Power Co.
On Feb. 4 1902 purchased the assets of the Wash¬
ington Traction & Electric Co., sold at foreclosure Nov. 24 1901, and re¬
organized according to plan in V. 73, p. 554, and acquired the Colum
bla Ry. and the Metropolitan RR. by deed In fee, subject to their mortgage
debt.
The last two roads constituted 57.71 miles of track.
During 1912
merged with the Anacostia & Potomac River RR. (25.21 miles) and the
Brightwood Ry. (12.45 miles), both of whose stocks had previously been
owned.
In 1912 also transferred to the Potomac Elec. Power Co. the
com¬
pany's Interest in the Great Falls Power Co.
Company furnishes power
to the Wash. Bait. & Annap. Elec. Ry., the Washington-Virginia Ry., the
Wash. & Old Dominion Ry. Co., and other local companies.
Franchises
perpetual.
Valuation.—See V. 109, p.
Elec. Pow. Co."
1081.
See also V, 110,
p.
1094 under '.'Po¬
tomac
In 1916 acquired control of Washington-Interurban Ry. (84 m.) through
purchase of its outstand. securities by the Washington & Rock ville Ry. Co.
On Jan. 16 1915 the stockholders of the Wash. Ry. & Elec. Co. and the
Potomac Elec. Power Co. each authorized an issue of $1,000,000 gen. impt.
6% debenture bonds on accounts of exts., add'ns and impts.
In May 1917
the P. U. Comm. auth. the Potomac Elec. Power Co. to issue $1,127,000
Gen.
Impt. 6% Deb. bonds, of which $750,000 were sold forthwith.
V. 104. p. 2122.
Merger of Washington Car Lines Proposed.
See V. 109, p. 677, also V.
109, p. 1274. 1701; V. 110, p. 360.
Favorable Rate Decision.—See 1914 annual report In V. 100, p. 1251.
Aug. 1918 the Potomac Electric Power Co. Issued $2,100,000 gen.
mtge. 6% bonds to finance the cost of a 15,000 k.w.turbo-generator and of
other improvements and extensions.
V. 107", p. 701.
In June 1919
brought out an additional $1,500,000 of this issue to finance the cost of a
extensions.
V. 108, P. 2246.
In June 1920 was auth. by the Wash. P. U.
Comm. to issue $1,150,000 additional bonds under this mtge7, proceeds to
In
applied to exts. and impts. made and to be made.
V. 110, p. 2494.
In Dec. 1918 the co. brought out an issue of $1,000,000 5-yr. gen. mtge.
bonds to be used in the purchase of 50 new cars costing $620,000, including
equipment, and to reimburse the co. for capital expenditures. V.107,p.2189.
be
72.974
railroads
$2,475,000
$2,367,750
Capital
of Company—■
Lighting—
Potomac Electric Power
Amount
Stock.
Name
Owned.
$6,000,000
50,000
Total all companies
$8 417,750
Owned.
None
a50,000
$8,525,000
Braddock Lt. & Power
$6,000,000
$107,250
Am't Not
*107,250
a Owned entirely by Wash. & Rockville Ry. Co.
x Aug. 1 1919 int. on
the $1,750,000 City 8c Suburban Ry. 1st M. 5s was paid Nov. 1 1919.
The Feb. 1 1920 int. on these bonds was paid on April 29 1920.
V. 110,
1972.
The Aug. 1 1920 int. was paid when due.
V. Ill, p. 588.
The Washington Ry. & Electric owns directly or indirectly the following
of the constituent companies, which, together with the shares of
stock owned above, are pledged under the $17,500,000 consol. mtge.;
p.
bonds
$100,000 (entire issues) 1st & 2d mtges. of the Georgetown & Tenallytown
Ry.; $180,000 out of a total issue of $185,000 1st mtge. bonds of the Wash.
& Rockville Ry. (remaining $5,000 being owned by the Wash. Ry. Relief
Association); $200,000 1st mtge. and $50,000 2d mtge. (entire issues) of
the Washington & Glen Echo RR.; $150,000 (entire issue) Washington
Interurban RR. 1st mtge. bonds.
Total, $680,000.
EARNINGS.—On all properties for calendar years:
1919.
1918.
1917.
Revenue passengers
Free transfers
1916.
80,779,210
23,002,522
$7,035,500
*5,082,546
66,044,230
19,617,337
$5,492,359
*3,791,264
68,545,481
21,489,744
$5,539,465
*3,280.486
.$1,893,299
80,298
$1,952,954
41,749
$1,701,095
37,203
$2,258,979
27,510
$1,973,597
Fixed charges
.$1,591,982
Div. on prer. stock (5%).
425,000
$1,994,703
$1,320,591
425,000
$1,738,298
$1,224,150
425,000
$2,286,489
$1,194,035
425,000
91,488,735
20,882,760
$9,003,920
*7,110,621
Gross
earnings—
Expenses and taxes
Net
Other
earnings
income
Total
Div.
on
income
com.
Surplus
*
Includes
_
stock...(14%)81.250(5%)325,000(6%)422,500(7%)455,000
def.$124,635 def.$75,888 adf.$333,352
depreciation of equipment in accordance with
* $212,454
Inter-State
Commerce Commission classification of accounts.
a The deficit in 1917 was due
principally to a 51-days* strike on the co."»
lines during March and April 1917 and to the Increase in operating costs.
Oct., 1920.|
ELECTRIC RAILWAYS
OFFICERS.—Pres., Wm. F. Ham; V.-P., Allen G. Hoyt; V.-P. A Sec.,
S. R. Bowen; Treas., A. M. Fisher; Asst. Sec.-Treas., Wm. L. Clarke;
Comp., A. G. Neal.
General offices, 14th and C Sts., N. W., Washington.
—V. 109, p. 1274, 1368, 1610, 1701. 2358; V. 110, p. 262, &0, 466, 765,
1090, 1527, 1749, 2489; V. Ill, p. 991.
WASHINGTON
& MARYLAND RY.
ORGANIZATION.—Incorp. In Maryland
137
In July 1920 int. on the several issues of Wash. Arl. A Falls Church bonds
well as the int. on the Wash. Alexandria & Mt. Vernon 5s was overdue.
as
V. Ill, p. 295, 1184.
The co. having failed to pay int. on the various underlying issues (see
above), the following committee was formed to protect the interests of
holders (largely Washington, Baltimore and Philadelphia bankers) of the
co.'s secured notes due Jan. 1 1922.
as successor to
Bait. A Wash.
Transit Co. of
Maryland, sold under foreclosure.
The P. U. Comm. of the D. of C. has auth. the co. to Issue $66,000 gen
6% 30-yr. bonds and $30,000 prior lien 6% bonds; has also approved
a contract by which the
Capital Traction Co will operate the co s lines.
Proceeds of the 6 % bonds will be used to complete
purchase of the properties
of Bait. A Wash. Transit Co. in Maryland, and the 5H % prior lien bonds
will be used as collateral for $25,000 1-yr. 6% notes, the proceeds of which
will hp used for ext. and Imptw
ROAD.—Operates about 334 miles of track from 14th & Kennedy Sts.,
N. W., to District line at Tacoma Park, Md.
Extension of 1 mile built
from District line and through service operated by the Capital Traction
Co. since May II 1918.
60 and 100-lb. T rail; girder rail on new extension.
Transfers
passengers at 14th and Kennedy Sts. to Capital Trac. Co. One
Four cars of the Capital Traction type.
fare any place in Dist. of Col.
OFFICERS.—Pres., Chas. Selden Jr., Washington, D. C.; V.-P., H. W.
Williams, Baltimore, Md.; Sec., Martin M. Little; Treas., Norton M.
Little.
Office, 1413 H St., N. W.
*
Noteholders' Committee.—Chairman, Howard S. Graham; Joseph Wayne,
Jr.; H. W. Goodall, Van Lear Black, R. Golden Donaldson, C. F. Norment,
W. F. Ham, Edward Hopkinson, Jr.; O.O. Tucker, and Gardner Booth.
V. Ill, p. 1184.
The committee has agreed to advance funds needed
by the co. to meet overdue int., Ac. provided 90% Qf the outstanding com.
and pref. stock is deposited with the Guarantee Trust A Safe Deposit Co. of
Phila., under the terms of an option agreement, under which the comittee
has the right within 2 years to purchase the entire deposited stock at the
rate of $10 a share for the pref. stock and $2.50 a share for the com. stock.
The agreement also provides that the depositary shall vote the deposited
stock from time to time
see
V.
as
the committee may
Outstanding.
Maturity
$1,378,300
See text
1,000,000
See text
2,370,000 Mar 1 1955
Interest.
M-N
M-N
5 g M-S
$2,500,000 ($1,000) g--.c*\Int. at Real Estate Tr. Co., Philadelphia.
Wash Arlington A Fails Ohurcn Ry issues—
1st M $100,000 gold1895
6 J-J
100,000 July 1 1925
250.000 April 1 1953
—
capital traction.—An underground trolley road.
the fall of 1895 absorbed the Washington &
Georgetown and Rock Creek companies.
See V. 61. p. 283, 328, 588.
Operating Agreement.—By an agreement entered into on Feb. 20 1917
2d mtge $350,0(X)
ORGANIZATION.—in
the
company took over the operation of the line of the Washington & Mary¬
land Railway Co. on May 2 1918,that company having completed the build¬
ing of an extention to the sanitarium "hear Takoma, Md.
Valuation, V. 109, p. 1079Fares.—In 1918 was auth. by the P. U. Comm. to eliminate the rate of
j6 tickets for 25 cents and to establish a straight 5-cent fare.
Effective
June 1 1919, was auth. to charge 2 cents for transfers.
V. 108, p. 2432.
Effective Nov. 1 1919 was auth. by the P. U. Comm. to increase fares to
4 tickets for 25 cents or 7 cents for a single cash fare; transfers between the
co.'s lines to be free, while inter-company transfers are subject to a charge
of 2 cents.
On May 1 1920 the co. was authorized to increase fares to
8 cents cash, with 4 tickets for 30 cents.
These rates continue until Jan
11921.
V. 110, p. 1748.
Proposed Merger Plan.—See V. 109, p. 1272; V. 110, p. 359.
.
STOCK AND BONDS—
Date.
Stock $12,000,000 ($100).—
New first mortgage
000 gold ($500)
Interest.
Maturity.
Outstanding.
Q-J
$12,000,000
See text.
5 g J-D
5,606,000 June 1 1947
c-j Int. at Union Tr. Co. of the D. of O., Wash.,
$6,000,-f 1907
I
trustee.
For further details
direct.
Ill, p. 1184.
STOCK AND BONDS—
Date.
Common $2,000,000 ($100)
Pref $1,000,000 ($100) see text
Wash Alex A Mt Ver 1st Mf 1905
f
1903
5 A-0
\Interest at Merchants' Tr. Co., Phila., trust.
$1,000,-/ 1908
5gM-S
602,000 Sept 1 1958
First consol mtge
Int. at Girard Trust Co.. Phila., trustee.
5%
See text
—
6%
1,400,000 Jan. 1 1922
Stock.—Pref. is entitled to cum. divs. of 3% for year ending Nov. 1 1911.
4% for next year and 5% yearly thereafter.
8tock llated In Phila A Wash,
000gold ($1,000)——C*!
General mortgage
Secured notes
____
Bonds.—Of the Wash. Alex. A Mt. Ver. 1st M., $130,000 are in treasury.
are subj. to call on any int. date at 110 and int. upon 3 months'
notice.
See V. 80, p. 1176.
$350,000 Wash. Arl. A F. O. 1st consols are
reserved for prior liens, $48,000 are in treas.; remainder are for betterments,
The bonds
Ac.
Bonds
were guar.,
p.
A i., by endorsement by Wash. Alex. A Mt. Ver.
int. date at 105 and int. on a mos.' notice.
1st M. bonds, payable In Phila.
Hlnchm&n, N. Y.. is trustee.
Notes.—The 6% notes due Jan. 1 1922 are secured by a deposit of $3,000,000 gen. mtge. 5% bonds.
Dividends.—Initial div. on pref.—134 %—paid Mar. 15 1911; Nov.
I34%1° 1912, 4%.
In 1913, and sfcce 5%.
On
common,
first
div.—1%—paid March 15 1911; Nov., 134%.
In 1912 and 1913. 3%.
In 1914, May, 134%.
In Nov. rate was reduced and 1% was paid.
In
1915, May, 1%.
No later information.
Ry.
Subject to call
on any
Int. on the Wash. Arl. A Falls Onurcn Ry
Walter
Bonds.—Are not subject to call.
Part of the bonds issued were used to
redeem the $1,080,000 outstanding 4% bonds of the 1900 issue.
$200,000
of bonds are in co.'s treasury and $194,000 are in co.'s Ins. reserve fund.
EARNINGS.—For 12 mos. end. June 30 1913, gross, $540,950: net,
$297,114; bond int. A taxes, $200,568; surplus, $96,546.
No later state¬
Dividends.—In 1898, July 1, 75c.; Oct. 1, 75c.; in 1899, four dividends of
75c. each; In 1900, 3?*%; in 1901, 4%; in 1902, Jan.. 1%; April, 1%,
July, 1 %, and on Aug. 20 an extra dividend of $4 per share was paid from
ROAD.—Operates from Washington, D. O., to Alexandria, Mt. Vernon.
Arlington, Ft. Meyer, Rosslyn, Clarendon, Vienna and Fairfax.
Total
track. 63.34 miles.
Standard gauge.
79 cars (of which 59 are passenger).
proceeds of sale of old power house; Oct., 1%; in
in 1905. 5*4%; 1906-1913 Incl.. 6% ann.;in 1914.
1903, 4*4 %; in 1904, 5%.
Jan.. 134%: April, 114%',
July, 134%.
In Oct. rate was reduced and 1K % was paid; same rate
was paid quarterly to and including July 1918.
In Oct. 1918 1 34% was
paid; same rate quarterly since.
In Dec. 1917 an extra dividend of IX%
was paid.
In Aug. 1918 an extra dividend of J4 % was paid.
REPORT.—For calendar years:
DiviBalance,
Int. and
dertds.
Snrvlui
Year—
Earnings.
Deprec'n ) Income. Taxes.
1919
$720,0008393,492
$4,535,661 $1,704,502 $12,941 $603,951
1918
3,529,855
1,446,794 13,680
572,385 (6%) 720,000 168,089
1917
46,530
2,783.538
1.250.209 16,262
469.941 (634) 750,000
In 1919, 90,515,022 revenue and 13,012,131 transfer passengers were
carried, against 79,185,754 and 21,329,256 in 1918.
ROAD.—Underground trolley, single track (incl. 2.023 miles operated
under trackage agreement), 47.436 miles; overhead trolley, 10 922 miles,
•ingle track.
Total length of road (incl. 8.028 miles sidings and turnouts).
69.573 miles of single track.
Operates 360 closed motor cars. 121 open
motor cars, 84 closed trailers.
99 open trailers, 9 snow sweepers, 5 sand
cars. 33 miscellaneous; total. 710 cars
80 to 104-lb. rail.
OFFICERS.—Pres.. Geo. E. Hamilton; V.-P. in Charge of Operation,
J. H. Hanna; V.-P., D. S. Carll; Sec.-Treas., II. D. Crampton; Asst. Sec.,
J. E. Heberle; Asst. Treas., C. B. Koontz.—V. 106, p. 497, 1460, 2118;
V. 107, p. 180, 1191; V. 108, p. 2432; V. 109, p. 1079, 1272, 1609, 1700;
V. 110, p. 359, 561, 1748.
>
Calendar
Gross
Net (after
Other
—
.
washington utilities CO.—A holding company.
ORGANIZATION.—Incorp. in
Virginia
(as Maryland-Virginia
Ry.)
Nov. 29 1911. amended Feb. 28 1912 and Nov. 7 1912, when the name was
changed to the above.
On Nov. 26 1912 merged with Washington-Virginia
Ry., but the latter company (see statement below) was obliged to resume a
separate existence, owing to refusal of the subsequently created Utilities
Comm. of the Dist. of Columbia to allow the merged corporations to issue
securities provided for in the merger agreement.
Owns 150 shares of
Braddock Lt. & Pow. Co. stock (valued at $20,000), $300,000 (of $300,350)
of Washington & Great Falls Ry. & Pow. Co. stock, and $575,100 com. and
$282,000 pref. stock of the Washington-Virginia Ry Co,
Default.—The June 1 1919 int. on the coll. trust 5% notes having been
defaulted, the following protective committee (reorganized V. 109, p. 271)
was
Committee for CoU. Trust 5% Notes.—Robert N. Harper, Chairman; Wm.
E. Cadwallader, W. T. Galimer, John Poole. Geo. W. white and O. W.
Warden, all of Washington, and Harold B. Thorne and Henry D. Harlan,
both of New York City.
Depositaries: Metropolitan Trust Co., N. Y.. and
the American Security A Trust Co., Washington. D. C.
Up to early in
Sept. 1919 $1,306,000 of the notes had been deposited with the committee.
V. 109, p. 271.
Compare V. 108, p. 2424.
..
Sale of Collateral.—Default having occurred on the co. s coll. tr. 5%
notes, the security pledged thereunder, viz., 27,500 shares Wash. Ry. &
Elec. Co. common stock was sold Oct. 1 1919 to the noteholders' committee
named above.
V. 109, p. 1368.
Compare V. 109, p. 1081.
^
^
STOCK AND BON OS—
Date.
Stock
Collateral trust notes $1,500,-/ 1917
Interest.
-
—-
——
---
5%
Outstanding.
$5,468,000
1,500.000
Maturity.
See text
—
OFFICERS.—Pres.. Norman Grey: Sec.. Gardner L. Boothe. Wash.;
Treas., J. C. Freeland; Gen. Mgr., R. W. King.—V. 109, p. 1081, 1274,
1610; V. 110, p. 168, 1749, 1850; V. Ill, p. 295, 1184.
WASHINGTON BALTIMORE & ANNAPOLIS ELECTRIC RR.—A
•lngle-phase electric road.
ORGANIZATION.—Incorp. In Maryland
on June 5 1905 as Baltimore
1911 amended its charter, changed its name
Annapolis Electric RR. and took over the Wash Bait. A
Annapolis Elec. Railway, sold at foreclosure (V. 92, p. 796, 957), per plan
In V. 91, p. 1328. 1386.
Private right-of-way.
The Annapolis Public Utilities Co. was Incorp. in May 1912 as a sub. co.
and took over the Annapolis Gas A Elec. Co., which had outstanding
$100,000 stock and $280,000 bonds.
V. 96, p. 555.
The Annapolis Public
Utilities Co. has $300,000 auth. com. stock. $172,700 Issued.
On Oct. 15 1919 the stockholders anth. the Issuance and sale of 20,885
shares of 6% non-cum. pref. stock (par $50) at, $37 50 per share.
Stock¬
holders (botn com. A pref.) were given the right to subscribe to the extent
of 23.43% of their holdings.
V. 109, p. 1610. 1793.
Terminal Co.
On March 31
to Wash. Bait. A
Outstanding.
Maturity.
$3,000,000
See text
1,759 250 Oct '20, IX
*6.121,000 Mar .1J941
1911
5 M-S
($1,000)
———c*tfunt. at Oleve. Trust Co., Oleve., or Safe Dep.
I
A Trust Co.. Baltimore, Md.
x Includes $752,000 bonds In treasury.
Stock and Bonds.—Pref. stock is red. at 110,
Bonds are subject to cal.
at 105 on any interest date.
'
Dividends.—On pref., initial div.—134%—paid Oct. 1912; Dee., 434%.
making 6% for the year.
Has paid 134 % quar. since to and incl. Oct. 1920.
Initial div.—3%—paid on com. Oct. 311917. In 1918, Jan., 3%; Apr., 2%;
July, 2%; Sept., 2%.
In Jan. 1919 731% was paid in Liberty bonds.
V. 107, p. 2377.
In 1919, April, 2%; July, 2%; Oct., 2%.
In 1920,
Jan., 134%; April, 1%; July, 1%; Oct., 1%.
STOCK AND BONDS—
Date.
Common $3,000,000 ($50)—Pref $2,500,000 ($50) 6% non-c
First
mortgage
$7,600,000 (
In 1914. 2%.
In 1915. Jan., 1%.
No later information,
'
i
EARNINGS.—For calendar year 1913, gross, $233,152; net, after de¬
ducting interest, Ac., $132,473; dividends. $107,160; bal., sur., $25,312.
No later statement has been received.
OFFICERS.—Pres.. Norman Grey: Sec. A Treas., J. O. Freeland.—
V. 108. p. 2424; V. 109, p. 171, 677, 1081,1368.
WASHINGTON-VIRGINIA
RyTcO.—Underground
trolley in Wash¬
ington, overhead outside.
Washington Utilities Co.
$282,000 of the preferred.
owns
$575,100
of the
common
stock
Interest.
Q-J
6 Q-M
•
.
_
EARNINGS.—For years ending Dec. 31 (1919 report in V. 110, p. 1291):
Gross
Net (after
Other
lnt.,&c.>
Balance•
Calendar
Earnings.
Years—
1919
$2,168,120
1918
2,902,015
Revenue passengers carried in
—
Taxes).
$596,007
765,495
-
Income.
$18,595
17,953
Charges,
$295,202
288.913
for Divs.
$319,400
494.535
1919,4,608,875, against 5,946,697 in 1918,
ROAD.—Operates 117.8116 miles of track between Baltimore, WashingAnnapolis, of which 13.94 miles are operated under contract.
En¬
ters Washington over tracks of Wash. Ry. A Elec
Oo.
80-lb T rails.
Standard gauge.
Automatic block system in single-track or entire line,
161 cars.
Power is purchased from Potomoac Electric Power Oo. of Wash¬
ington.
OFFICERS.—Pres., Geo. T. Bishop, Bait.; V.-Ps., F. H. Ginn, Oleve;
Jas. A. Hemenway, Boonevllle, Ind.; V.-P. A Gen. Mgr., J. J. Doyle,
Bait.; Sec., Geo. W. Williams, Bait.; Asst. Sec. A Asst. Treas., Thos.
Mason; Treas., Wm. M. Garrett, Baltimore; Aud., W. H. Wright, Bait.—•
V. 107, p. 2377; V. 108, p. 1276, 2434; V. 109, p. 1274, 1462, 1610, 1793,
2368; V. 110, p. 1090, 1189, 1291; V. Ill, p. 790.
eon and
—-
000 ($1,000)—
\Metropolitan Trust Co., N. Y., trustee.
Notes.—Are secured by pledge of $2,750,000 com. stock of the WashRy. A Elec. Co.
Red. at par and int. on any int. date on 30 days' notice.
Dividends.—Initial div. of 34 of 1% paid July 1 1912.
In 1913. 1*4 7c
and
WASHINGTON & OLD DOMINION RY.
ORGANIZATION.—Incorp. in May 1911 in Virginia as successor to the
Great Falls A Old Dominion RR., operating a 15-mile line between Wash¬
Has leased for 50 years from June 1912
Ry.. extending
In 1912 completed a
12-mile connection between Washington and Alexandria.
Total road oper¬
ated, about 81 miles.
Gross earnings for cal. year 1919, $660,920; in 1918,
gross, $523,224; in 1917, gross, $451,697.
ington, D. O., and Great Falls, Va.
and has electrified the
Bluemont branch of the Southern
from Alexandria to Bluemont. Va., about 54 miles.
OFFICERS.—Pres., Colin H. Livingstone;
V.-Pres., E. B. McLean,
Sec.-Treas., A K. Stratton; Gen. Mgr., J. V. Davis.
Office, Washington, D. C.—V. 95, p. 482; V. Ill, p. 1473.
Corcoran Thorn,;
1
ORGANIZATION.—Incorp. in Va. Oct. 15 1913 to take the place of
which waa incorp. in Virginia on June 22
1910.
The old co. on Oct. 20 1910 merged into the Washington Alexandria
A Mt. Vernon Ry. (stock $1,500,000) and Washington Arlington A Falls
Church Ry. (stock $500,000).
Has private right-of-way; franchises in
WATERLOO, IOWA.
former company of the same name
cities
has been received.
-
formed:
--
ment
perpetual.
WATERLOO CEDAR FALLS & NORTHERN RY.
Released from
a
time
Federal Control.—On Feb. 29 1920 the company, which for
had been operated by the U. S. Railroad Administration, was re¬
leased from Government control.
2 cents additional for transfers.
Effective Nov. 1 1919, was auth. by the P. U. Comm. to
7 cents for a single cash fare; trans¬
fers between the co.'s lines are free, while inter-company transfers are sub¬
ject to a charge of 2 cents.
On May 1 1920 the co. was authorized to
increase fares to 8 cents cash, with 4 tickets for 30 cents.
These rates
ORGANIZATION.—Incorporated In Iowa In 1895 as Waterloo A Cedar
In 1904 by amending articles
incorporation.
Line opened between Waterloo and Cedar Rapids
Sept. 13 1914.
Connects at Cedar Rapids, la., with the Chic. A N. W.
Ry. and Chic. Mil. A St. Paul Ry.
Franchise.—The company accepted the franchise approved at a special
election held on
Dec.
5
1917, which provides for a reduced rate of
25 tickets for $1 between 6 and 8 a. m. and 5 and 7 p. m., and special rates
to school children.
The franchise also provides that whenever the gross
continue until Jan. 1 1921.
V. 110, p. 1749.
See also V. 110, p. 1850.
Interest.—The March 1 1919 int. on the Wash. Alex. A Mt. Vernon 1st
income for the whole line shall be 5 cents per car mile in
operation, thereafter the company shall share with the
The ota company was merged on Nov. 29 Into the Wash. Utilities Co.,
but was subsequently obliged to resume separate existence.
See Wash.
Utilities Co. above and V. 9a. d. 691.
Effective June 11919, was auth. to charge
V., 108, p. 2434.
increase fares to 4 tickets for 25 cents or
mtge. 5s was not paid until July 1919.
was
paid in Jan. 1920.
V. 110, p. 168.
The Sept. 1 1919 int. on this issue
Compare V. 109, p. 1081,1274.
Falls Rap. Transit; name changed to above
of
excess revenues on
V. 105. p. 2186.
the basis of 90% to the company
excess of cost of
city on all such
and 10% to the city
Interest.—The July 1 1918 and Jan. 1 1919 int. due on the co.'s bonds was
due, but has since been paid.
Subsequent int. has been
not met when
1
paid when due.
*
,
,
.
subject to prior redemption.
The issue was created for
For further details see V. Ill, p. 794.
Fare Increase.—On Sept. 15 1920 fares were raised
cash.
V. Ill, p. 1662.
Common (% 100)
Interest.
Date.
STOCK AND BONDS—
($1,000)
—-----„
1,314,000
2nd Mtge (closed)
Gen mtge $15,000,000—
--------
See text May 1 1950
1920
Car trust notes
50,946
.
Bonds.—Remaining bonds can be issued at 82 H% of coat of extensions.
Subject to call upon 00 days' notice at 105 and int.
Annual sink, fund of
2% of bonds out oegan with fiscal year ending Dec. 31 1912.
Louis Boisot
is also trustee.
Car trust notes mature in small amounts over a period of
years.
V. 90. p. 850, 915; V. 93, p. 528, 591.
Dividends.—6% per annum was paid on pref. stock from 1913 to 1910
incl,; 1917 div. deferred (V. 106, p. 398).
None since.
to
;
E. Z. WallW. E. McMechan*
W-P.,
Sec., Geo. W. Reiiy; Treas.,
716.
Harrisburg, Pa.;
—V. 93, p. 752; V. 106, p.
CHESTER, PA.
THW WEST CHESTER STREET RAILWAY CO.
ORGANIZATION.—Incorporated in Pennsylvania Aug. 4 1890.
Owns
the Chester Valley Electric Light, Heat A Power Co. and the Coatesvllle
Electric Light, Heat A Power Co.
Franchises perpetual.
Fares.—In April 1919 was auth. by the P. S. Comm. to increase fares
between Coatesville and adjacent points from 5 cents to 6 cents.
aont%
Maturity.
See text
5,773,000 Jan 1 1940
c*tf\Int. at First Tr. A Sav. Bk., Ohic.. trustee.
6%
OFFICER8.—Pres
over,
WEST
from 5 to 10 cents
5 g J-J
1910
completed
10 1918.
refunding purposes.
Outstanding.
$1,863,000
664.000
$3,335,000
Pref stock $1,665,000 cum
First mtge gold $6,000,000/
Galena In
Alba, Joplin, Villa Heights and Chitwood, all in Missouri, and
An extension to Baxter Springs, Kan., 9 miles, was
Kansas.
Feb. 21 1918 and to Picher, Okla., on June
.
New Mortgage.—The co. has filed for record a gen. mtge. to the First
Trust A Savings Bank, Chicago and M. Traylor, Chicago, trustees, to secure
an issue of $15,000,000 gold bonds dated May 1 1920, due May 1 1950, but
[Vol. 111.
RAILWAYS
ELECTRIC
138
ROAD.—Owns and operates a line on private right-of-way from Waverly
Cedar Rapids, 83 miles, with a branch from Waterloo to Cedar Falls
9 miles, and a belt line of 7 miles around Waterloo.
Also
and operates under satisfactory franchises, 23 miles of railway in the
cities of Waterloo and Cedar Falls; total track, 138.63 miles.
Has Joint
Chic. A North Western, O. M. A St. P., Chic.
Gt. West., Illinois Cent, and the O. R. I. A Pac. railroads for interchange of
freight, passenger, mail and express business.
60, 75 and 85-Ib. T rails
70 passenger, 3 baggage and express and 162 freight cars, 9 electric engines,
and necessary work cars, snow plows, sweepers. Ac.
Maturity.
Outstanding.
Interest.
$1,000,000
..........
1902
5 g F-A
1,000,000 Aug 1 1932
gold
c*tf lint, at West End Trust Co., Phil a., Trustee.
Bonds.—No sinking fund and bonds not subject to call.
Earnings—
Gross.
Net.
Int.&Tax. Deprec. Surplus.
Calendar year 1919
$225,153
$104,058
$57,689
$12,988 $33,381
Calendar year 1918.
185,464
69,182
56,954
13,123
def.895
ROAD.—In operation from Kennett Square, through West Chester, to
Downington and Gallagherville, 18 m.; gauge, 5 ft. 2J4 in.; rails, 70-lb. T;
20 cars.
Extension Lenape to Kenneth Square was completed Oct. 1 1904.
An extension from Gallagherville to Coatesville completed Nov. 5 1906.
■t
Total track, 30 m.
and Normal.
owns
Date.
STOCK AND BONDS—
Stock $1,000,000 ($50)..
First mtg $1,000,000 ($1,000)7
^
.
Schambere: Sec.,
84, p. 340, 392.
OFFICERS.—Pres., Geo. D. Woodslde; V.-P., Meyer
Jonas Rice; Treas., M. G. Woodside, all of Phila.—V.
traffic agreements with the
1919.
$875,529
Net (after taxes)
1917.
$828,524
1918.
$752,139
35,768
EARNINGS.—Calendar Years—
Gross.—.
8,822
WICHITA,
284,323
OFFICERS.—Pres., L. 8. Cass; V.-P., J. F. Cass; Treas.
W. H. Burke; Gen. Mgr.; C. D. Cass.—V. Ill, p. 794, 1662.
:
A Aud.,
KANSAS.
ARKANSAS VALLEY INTERURBAN RAILWAY.
ORGANIZATION.—Incorp. in Kansas in 1903 and owns and operates
an interurban electric railroad from Wichita to Newton and Hutchinson,
Kan.
Has long-term franchises In corp. limits, most important extending
beyond 2000; rest on orlvate right-of-way.
STOCK AND BONDS—
Date.
Interest.
Common stock $2,100,000
Pref 6% cum $1,500,000
First
$3,000,000
mtge
gold]
1916
WATERVILLE, MAINE.
WATERVILLE FAIRFIELD & OAKLAND RY.
company for having retired outstanding bonds of the Waterville A Oakland
St. Ry. and for procuring the conveyance of the street railway property
formerly belonging to tne Waterville A Fairfield Ry. A L. Co.
The Cen¬
tral Maine Power Co. assumes and agrees to pay all liens, claims and In¬
cumbrances of every kind attaching to the property formerly owned by the
Waterville A Fairfield Ry. A Light Co., so that the Waterville Fairfield A
Oakland Ry. now owns both railroads, which connect at Watervillt.
Y. 93, p. 1790.
Waterv. Fairfield A Oakland Ry. has no bonds.
_
y^ar
BONDS.—$100,000 may be issued forup to 50% of cash cost of impts.,
or exts.. remaining $2,000,000 for 75% of such cost under restric¬
Callable at 103 and int.
Sinking fund of 2% annually of bonds cer¬
tified began Dec. 1 1919 to purchase or call bonds at 103 A int.
$22,000
bonds were held in sink, fund Oct. 1 1920.
Confc. A Comm'l Trust A Sav.
add'ns
Bank, Chicago, trustee,
EARNINGS.—For cal.
«
year 1919, gross, $485,457; net, after taxes,
In 1918, gross, $328,611; net, after taxes, $128,954.
ROAD.—Owns and operates 60 miles
single-track equiv.; standard
gauge; 70. 80 and 85-lb. rail.
Also operates under contract 5.3 miles In
Wichita and Hutchinson.
Power is purchased from the Kansas Gas A
$182,992.
Electric Co.
OFFICERS.—Pres., George Theis Jr., Wichita; Sec., R. B.
Gen. Mgr., C. H. Smyth; Aud. A Asst. Sec.,
OFFICERS.—Pres., Harvey D. Eaton; V.-P., Walter S. Wyman; Sec..
R. Longfellow;
Campbell;
O. Basse.—V. 104, p. 1144.
WILKES-BARRE, PA.
ROAD.—Extends from Fairfield through Waterville to Oakland. 10 8
Standard gauge.
58 to 90-lb. T and girder rail.
17 passenger
miles.
Aud., John 8. Everett.—V. 93, p. 1602, 1790.
been red.
tions.
WILKES-BARRE
and 2 snow-plows.
E. A. Ballantyne; Treas., Walter S. Wyman; Gen. Mgr., N.
1 1936
878,000 Dec
5 g J-D
end. Dec. 31 1919, gross, $132,991; net, after
In 1918, gross, $104,108; net, after taxes, $4,193.
taxes, $14,445.
$1,500,000
516.000
($1,00 ', $500, $100) c*cpt/lnt. payable in N. Y. or Chicago.
Stock.—Pref. stock is redeemable $10,000 per ann.; $34,000 has
ORGANIZATION.—Incorp. In Maine In 1902 as the Waterville A Oak¬
land St. Ry., but in 1911 increased Its stock from $100,000 to $500,000
($100) and changed name to present title.
V. 93, p. 1002.
The $400,000
additional stock was turned over to the Central Maine Pow. Co. to pay that
EARNINGS.—For
Maturity.
Outstanding.
—-
RAILWAYS CO.
ORGANIZATION.—Incorp. Nov. 26 1909.
Auth. stock, $1,500,000; Is¬
sued, $900,000.
Leases Wilkes-Barre A Wyom. Val. Tr. Co. for 800 yrs.
from Jan. 1 1910 at rental of $360,000 the 1st yr., increasing $10,000 every
two years
until the maximum of $400,000 is reached, and all obligations
Id the way of int., taxes, Ac., of W.-B. A W. V. Trac.
Operates about
113 miles of track.
Fare Decision.—For decision ofT\ S. Comm. upholding 8-cent cash fare
WAUSAU, WISCONSIN.
WISCONSIN YALLEY ELECTRIC CO.
V. Ill, p. 1662.
EARNINGS.—For
see
ORGANIZATION.—Incorp. Aug. 28 1900 in Wisconsin,
as
the Wausau
In Dec. 1915 name was changed as above and stock was In¬
creased from $400,000 to $800,000.
At the same time purchased the
Merrill Ry. A Power Co. and the Lindauer Pulp A Paper Co's. plant ot
Merrill.
In Nov. 1916 purchased the property or the Stevens Point Light¬
Street RR.
ing Co. and Stevens Point Power Co.
Furnishes electric-light and power in Wausau, Stevens
Point, Merrill and
contiguous territory, and owns and operates an Interurban street railway
of 9H miles of track between Wausau and Rothschild; also a street railway
at Merrill and a gas plant at Stevens Point.
Franchises extend to 1940.
Fare Increase.—In Jan. 1919 was auth. by the Wise. RR. Comm. to
Increase fares from 5 to 7 cents.
V. 108, p. 482.
To Discontinue Service in Merrill.—In Dec. 1919 the company notified
the city of Merrill, Wis., that it would discontinue service in that city on
Dec. 31 1919, the date the company's franchise expired.
The city authori¬
ses
appealed to the Wise. RR. Comm. and in Oct. 1920 the co. was still
perating.
STOCK AND BONDS.— Date.
Interest.
Common stock. $800,000
Preferred stock
First
Ref
A
M,
($100,$500
$15,000,000/ 1917
A$l,000)c*___1lnt.
Outstanding.
$800,000
250,000
Maturity
--
at First Nat. Bk., Milw., or Wisconsin
Val. Tr. Co., Wausau, Trustee.
I
Bonds on Merrill and Stevens
Point
properties
—
is to
apply to maintenance,
part not so used to be added to sinking fund.
*Red. at 102 and Int.
any
which amounts to 1% annually of bonds outstanding.
any
int. date.
.$506,353
$287,858
260,321
$80,000
Bal.tSur.
$80,000
60,000
$13,137
41,192
$2*4,443
<».
453,732
50,000
$114,721
109,129
Divs.
LATEST EARNINGS.—For 12 months ending Dec. 31:
1919
$601,269
$339,330 $105,000
$121,882
$88,005
1917-18
PROPERTY.—Owns hydro-electric generating plants at Wausau, Merrill
and Stevens Point, and auxiliary steam generating plants at
Wausau
11.08 m. track; 16 pass, and 2 other cars, 1 snow plow.
OFFICERS.—Pres., C. C. Yawkey; V.-P., B. F. Wilson; Sec. A Treas.,
M. O. Ewing; Asst. Sec., Wm. Anderson.—V. 104, p. 2013, 2553; V. 108,
p.
1102; V. Ill, p. 1662.
(1)
Wilkes-Barre & Wyoming Valley Traction.—The United Power A
owns 49,992 out of the 50,000 shares of stock.
Lease.—Ts leased to the Wilkes-Barre Ry. Co. (see above).
Trans,
ORGANIZATION.—Incorporated
482; V. 109, p. 2441.
V. 89, p.1598.
Feb. 9 1891; controls street railway
lines in the Wyoming Valley, Pa., extending from Wilkes-Barre to Duryea
and Nantlcoke on east side of Susquehanna River and
Pittston and Ply¬
mouth on west side.
In Dec. 1902 made collateral trust mtge. for $250,000
purchase stock of the Wilkes-Barre Dallas A Harvey's Lake Ry. Co. and
On July 1 1904 leased the Plymouth A Larksville Street
Ry. for 999 years at 6% on $75,000 stk. and int. on $75,000 5% bonds.
to
for other purposes.
Date.
STOCK AND BONDS—
Outstanding.
Interest.
Maturity
Stock (par $100) $5,000,000—all but 8 shares owned by Un. P. A T. Co.
5 g A-O
1st
$1,500,000 April 1 1921
mtge
$1,500,6oO gold IT 1891
($1,000)
c* Interest at Provident Life A Tr. Co., Phila.
*
1895
Collateral trust and mortgage
$325,000
Collateral
1 1925
Tr.
257,000 Jan.
5 g J-J—
Int. at Anthracite Sav. Bk., Wilkesbarre,
gold
trust
and
mtge
$250,000
5 g J-D
250,000 Dec 15 1922
gl 1902
c*[ Int.at Real Est.,Title,Ins.ATr.Co.,Phila.Tr.
Underlying Bonds on Roads PurchasedWilkesbarre A Suburban bonds
5 %
40,000 July
....
1 1928
Ouaranteed Bonds—
Plymouth Br Co 1st gold M/ 1894
5 g A-0
91,000 Oct
1 1924
$150,000 guar prin A lnt__llnt.at Anthracite Sav. Bk., Trustee, Wilkes¬
barre $10,000 subject to call in 1904 and $3,000 yearly thereafter.
Wilkes-Barre A Kingston
5 F-A
90,000 Aug 1 1928
.
Wilkes-Barre A East 8ide Ry
EARNINGS.—For fiscal years ending June 30:
Year—
Oross.
Net.
Deprec. Int.,Tax.,Sic.
1918-19
exp..
($1,000)
(closed
mortgages)
412.500
Bonds.—$244,000 are reserved to retire underlying bonds.
Additional
bonds may be issued for 80% of cost of impts., when net earnings are twice
Interest charges, including bonds to be Issued.
12of gross earnings
on
rentals A
oper.
'
1,033.500 May 1 1942
5 M-N
cal. year 1919, gross, $2,087,877; net, after oper.
taxes, $67,758.
In 1918, gross, $1,633,229; def., after
rentals A taxes, $152,027.
OFFICERS.—Pres., Abram Nesbltt; V.-P. and Gen. Mgr., T. A. Wright,
Sec. A Treas.. C. W. Laycock.—V. 92, p. 957; V. 103, p. 2343; V. 107,
exp.,
Bonds.—Interest
on
160.000 See (T)below
5
the Wilkes-Barre A Kingston
bonds reduced to 5% In
Aug. 1903 and bonds extended to Aug. 1 1918 and again to Aug. 1 1928 at
5%.
Int. on the Wilkes-Barre A Suburban bonds reduced In 1903 to 4%
and bonds extended
to
July 1 1918.
Were again extended this time
July 1 1928 at 5%.
The Wilkes-Barre A Wyoming Valley co 1. tr. bonds
cf 1902 are subiect to call after 10 years at 105 and accrued interest.
to
/ COMPANIES CONTROLLED IN SYSTEM.—The following table
®hows
the several
companies operated, their mileage, capital stock, and the
by the Traction Company, their debt, and finally the
payable under 999-year lease; 6% here meaning 6% on the outstandtn g capital stock; and $1 meaning a nominal rental, the company having
only a nominal existence.
a
mount of it owned
rental
Stock
WEBB
CITY, MO.
Name of Company.
Miles.
Coalville Passenger Railway... 5.67
SOUTHWEST MISSOURI RAILROAD CO.
ORGANIZATION.—Organized under the general railroad laws of Mis¬
souri, and on Sept. 1 1906 acquired the Southwest Missouri Electric Ry.
and the Webb City Northern Electric RR.
8TOCK AND BONDS—
Stock
$5,000,000
Date.
Interest.
-
Outstanding.
Maturity.
$3,500,000 See"earns. '
General and refunding
gage
000)
mort-f 1900
5 g M-S
1,027,000 Sept 1 1931
$5,000,000 gold ($1.-4Int. at Harrisburg (Pa.) Trust Co., Trustee.
tf(
or National Bank of Commerce, N. Y.
Northern
Northern
Webb
City
$200,000 gold
Soutnwest Missouri
mtge/ 1905
5 g M-S
200,000
Sept 1923
c tfl Int. at Safe Dep. A Tr. Co., Pitts., Trustee.
1903
5 g M-S
Electric
1,150.000 Sept 1 1923
Ry refunding and exten¬ Harrisburg Trust Co., Harrisb., Pa., Trustee
sion mtge $1,500,000—tf Int. payable at Nat. Bk. of Commerce, N. Y
Bonds.—Of the $5,000,000 new bonds, $1,350,000 are reserved for prior
Hens and $2,023,000 for improvements and extensions.
_
Aug. 31
Years—
1917-18
1916-17
Oross
Net (after
Earnings. Taxes).
$953,876 $356,013
741,727
245,981
747,820
333,861
Interest Renewals
Charges. A Bett's.
$128,330
125,388
114,536
69,462
Balance,
Dividends.
(2%)
Surplus.
$227,683
120,593
70,000
79,863
ROAD.—Operates 91 miles of track connecting Carthage, Cartervllle,
Webb City, Prosperity, Porto Rico, Duenweg-Oronogo, Neck City, Purcell,
9.68
2.00
Plttst. Mooslc A P. V. St. Ry.. 1.95
Pittston Street Oar
8.82
Plymouth A Larksville Ry._... 3.45
Plymouth Street Railway
6.00
West Pittston A Wyo. St. Car.. 2.25
.....
.
5.00
tWilkes-Barre A East Side
Wilkesb. A Klngst. Pass. Ry
Wllkesb. A Plains. Ry
0.60
4-00
Wilkesb. A Suburban 8t. Ry
10.00
Wilkesb. Dallas A Harvey's L_.13.01
Wilkes-Barre A West Side..
Plymouth Bridge Co
9.03
...
Owned.
$36,300
0,000
13.500
42,000
200,000
150,000
100,000
24,000
100,000
200,000
100,000
75,000
150,000
Debt.
Rental.
None
None
$05,000
None
6%
$1
$1
$1
99,700
24,000
93,500
193,750
76,000
None
None
*150,000
90,000
217.000
40,000
150,000
92,450
75,000
$1
6%
$1
$1
$1
0%
$1
0%
(a)
0%
91,000
...
12,000
30,000
$ Entire stock and
*
a
EARNINGS.—For years ending Aug. 31:
1918-19
Nanticoke Street Railway...^.
Pittston A Avoca St. Ry
Issued.
$02,400
0,000
13,500
42,000
200,000
75,000
12,000
30,000
bonds deposited under collateral trust of 1895.
Entire amount owned by the W. A W. Valley Trac.
Dividends in this
case
are
dependent upon earnings.—V. 107.
p.
,
1102.
(a) Wilkes-Barre Dallas & Harvey's Lake Ry.—The Wilkes-Barre A
Wyoming Valley Traction Co. owns all tne stock.
ORGANIZATION.—<-A reorganization In 1898, per plan in V. 60, p. 1190.
of the Wilkesbarre A Northern RR., sold by Sheriff In Sept. 1898.
Road,
partly constructed, was completed and electrically equipped by new com¬
pany from Luzerne, Pa., there connecting with wlikes-Barre A Wyoming
Valley Traction to Harvey's Lake, Pa., 14.08 miles.
Oct., 1920.]
ELECTRIC RAILWAYS
STOCK AND BONDS—
Date.
Interns'
Outstanding.
Maturity
Stock $200,000 ($50)-.—---—All stock owned by W.-B. AW. Val. Trac.
^mortgage $150,000
gold/ 1898
$150,000 Sept 151928
($500).
—-----———c*llnt. at Anthracite Say. Bk., Wllkesb., Trus.
-V. 69. p.
EARNINGS.—For calendar years;
Divs. & '
Year— Int. Rec'd.
5gM-S
133.
1919
1918
WILMINGTON, N. O.
ORGANIZATION.—Chartered Feb. 1907 In North Carolina and has
acquired through construction and purchase all the
property used in fur¬
nishing electric light and power, gas and street railway service in Wil¬
mington, N. C., and vicinity.
La April 1917 acquired all the property of
the Consolidated Rys., Light & Power Co., formerly controlled
by stock
ownership and leased.
Population of territory served, 36,000.
Has a
10-year contract from 1918 with the city for street lighting.
Franchises, in
opinion of counsel, are without time limit and the railway franchise Is
..
exclusive until 1937.
Fare Increase.—In July 1918 was auth. by the N. O.
Corp. Comm. to
in Wilmington and suburbs from 5 cents to 7
cents.
Tickets
are sold at the rate
increase fares
jrf 4 for 25 cents and 17 for $1. Authority to charge
of gas in the city and $2 in Wrightsville Beach was
$1 75 per 1,000,cu. ft.
also granted.
V. 107,
p.
83.
Stock Increase.—On Nov. 12 1919 the stockholders voted to increase the
capital stock of the co. from $1,200,000 to $2,600,000, $2,000,0(1)0 to be
pref. stock and $600,000 to be common stock.
Pref. stock, in addition to
the $1,200,000 outstanding, may be issued under certain conditions as set
forth in V. 109, p. 2440.
Proceeds from the sale of the pref. stock are to
be used to liquidate current liabilities, to retire $350,000 bonds due
Aug. 1
1920 and for additions and betterments. Y. 110, p. 971.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common $600,000—--..
A-O
$600,000 Oct.*20. 3H%
Pref $2,000,000 7 % cum (see text)
See text
See text
1,200,900
Consol Rys, L A P Co 1st M gf 1902
5 g J-J
478,600
July 1 1932
(closed) ($50, $100, $500, Interest at Safe Deposit A Trust Co.,
$1,000)
c
Baltimore, Md., Trustee.
First
1909
Jan 1 1949
mortgage
$2,000,000
5g J-J
830,000
($1,000) gold..
....c* Int. at Penn. Co. for Ins. on L., Ac., Phila.
..
—
..
trustee.
.....
1917
6 g F-A
350,000 Aug 1 1920
c*tf Int. at Guaranty Trust Co., N. Y., Trustee.
Stock.—In 1912, by consent of common stockholders, pref. stock was made
a 6% stock after the common received
7% in any year.
The extra 1%
was not cumulative.
In Dec. 1919, however, the pref. stock was put on a
7% basis and made cumulative. V. 109, p. 2440.
Additional 1st M. bonds may be issued at 85% of cost of new property and
extensions, but only when net earnings equal 50% more than int. on aB
bonds out and including amount to be issued.
During life of Gen. Mtge.
bonds, however, only $200,000 additional 1st M. bonds may be issued.
The 1st M. bonds are subject to call in entirety only at four weeks' notice a1
105.
Sinking fund of 1% began 1914; $47,000 have been retired; $64,000
in addition to amount outstanding held in treasury.
V. 89, p. 471.
The
Consol. Rys., Light & Power Co. bonds have a sinking fund of 1% of
bonds outstanding from July 1 1904 to 1914; 1H% to 1924 and 2% there¬
after.
Fund to be invested in bonds at not exceeding 105 and int., but
bonds are not subj. to call.
$156,200 bonds have been retired.
Remain¬
ing Gen. Mtge. bonds may be issued only for additional physical property,
impts. and betterments when earnings available for int. on these bonds
are at least 3 times interest charges, including bonds proposed.
No prim
lien bonds exceeding $200,000 may be issued and no new mortgage equal or
prior to this mortgage will be created while these bonds are outstanding and
unpaid.
The Gen. M. bonds are red. at 101 and int. at any time on 60
days' notice.
Tax-free In N. Y. State.
V. 105, p. 1105.
Dividends.—Prior to Jan. 1 1913 5% per annum was being paid on pref.
(H% monthly, omitting Jan. and July).
On Jan. 1 1913 began paying 6%
per ann. (H% each month), which was continued to and incl. Mar. 1 1920.
Since divs. have been paid at the rate of 7% per ann..
Now cumulative at
that rate.
On com. first div., 2%, paid April 1910; 0<
u,
Oct., 2%; in 1911,6%;
in 1912, April, 3%; Oct., 3% and 1% extra, and divs. at the rate of 7% per
anil. (3H% semi-ann. were paid regularly to and incl. April 1918.
In
Oct. 1918, 2 H % (additional 1 % due was paid May 1 1919).
In April 1919
3H% was paid.
Same rate has been paid regularly since to and incl. Oct.'20
•—
EARNINGS—Years Ended—
Dec. 31 '19.
Gross earnings—_
Net, after oper. expenses and taxes..
Bond interest (prior liens).
— _
——_
Balance
Dec. 31 '18.
Dec. 31 '17.
$619,849
$182,575
113,541
$529,118
$209,302
108,580
$914,362
$279,091
x
$69,034
$100,722
x Net income after
deducting bond int., Ac. (incl. deprec.), was either
$145,680 or $155,079.
x
——
PROPERTY.—The power station has a total capacity of 6,300 k.w.
The gas plant has a 585,000-cu.-ft. daily capacity, brick buildings and 7
two-lift holders of 270,000 cu. ft. capacity; 44 miles gas mains.
Will
presently install water gas set with Capacity of 810,000 cu. ft. daily.
Of the
29.28 miles of track in the railway system 68% are double tracked.
44
Eassenger and 7Owns and leases to the Atlantic Coast Line RR. 1.5 miles of
uilt in 1916.
freight and miscell. cars. A new car house and shop were
track along the water front.
Also
.....
Deduo-
Net
Income.
Hons.
$14,671
15,158
18,404
owns a
large amusement pavilion and
several cottages at Wrightsville Beach; controls through stock ownership
hotel at the beach, ana owns a large auditorium seating 2,000. together
with three large tracts of improved real estate along the railway.
OFFICERS.—Pres., Hugh MacRae; V.-P., II. C. McQueen; 2d V.-P.,
Hunt; Asst.
C. Van Leuren; Sec. A Treas., T. B. Willard; Gen. Mgr., R.
Sec. & Treas/, M. P. Bell.—V. 105, p. 1105; V. 106, p. 925;
83, 1194, 1291; V, 109, p. 2440; V. 110, p. 971.
V. 107,
p.
WORCESTER, MASS.
the purchase.
V. 99, p. 609, 675, 1215.
The New England Navigation Co. owns the
$13,709,000 funding gold
notes, and In pursuance of the order of the U.S. Department of Justice the
notes were to have been sold by July 1 1919, but in March 1919 Judge
Mayer granted an extension of time to Julyl 1 1921.
Exchange of Preferred Stock.—By vote of the trustees on Sept. 20 1917
the plan to exchange the $4,000,000 4% pref. stock (par $100) for an equal
pref. stock of the Worcester Consol. St. Ry. became
operative.
The latter has a par value of $80 per share and is entitled to
$105 per share In the event of liquidation ana to cumulative divs. of $5
per share.
Exchange of the stock relieves the N. Y. N. H. & H. RR. of
Its guaranty of dividends thereon.
V. 104, p. 2559. V. 105, p. 1618
As of April 1 1920 38,879 shares had been exchanged.
ORGANIZATION.—Is a voluntary association and was organized on
June 25 1906 to take over the street railway properties in Massachusetts
formerly controlled by the Consolidated Railway Co.
V. 83, p. 492.
SECURITIES OWNED.—The following is a list of stocks held by the
New England Investment A Security Co. (see V. 83. p. 1100).
Mil ford Attieboro A Woonsocket St. Ry.—$315,000 capital stock.
Worcester Consolidated St. Ry.—3,865 shares (out of 45,000) 1st pref.
stock (par $80) and all the common stock.
Springfield Railway Cos.—68.000 shares (entire issue) of common stock.
(Springfield Ry. Cos. owns 46,492 out of a total of 46,547 shares of Spring¬
field Street Ry.)
Various street railway company
STOCK AND BONDS—
Common
bonds, $347,555, and notes, $683,078.
Date.
;
Interest.
Outstanding.
$100,000
Maturity.
4 J-J
112,100 July'20, 2%
See text
13.709,000 Apr. 1 1924
Stock.—Dividends of 4% per annum on the pref. stock are cumulative
and are guaranteed by the New York New Haven A Hartford RR., and
also $105 per share in case of liquidation.
V. 83, p. 492.
See form of guar¬
anty In V. 83. p. 1102.. This stock may be called as an entirety at any time
at 105 and accumulated dividends.
Supreme Court of Errors in Connecti¬
cut sustained validity of guaranty.
V.88, p. 1002.
Notes.—N. Y. N. H. A H. guar., p. A L. $5,000,000 of the notes.
Int.
on notes for first 5 years, 3%; for the next 5 years 4% and for the last 5
years, 5%.
An agreement was reached with the New Haven interests in
1915 by which interest was continued at the rate of 3% per annum to April
1917 and 2% since, with obligation! to pay remainder if earned.
Original
Iskie, $164250,000, of which $2,541,000 redeemed and canceled.
Pref. 4%
($100)
Funding gold notes
....
—
tf-
1909
$34,000
301,227
$308,453
Preferred
Dividends.
$4,484
4.484
None
83,138
Balance,
or Def.
Sur.
sur,
_
Slvl
32,897
def. 90,364
sur.
OFFICERS.—Chairman of the Board, Francis H. Dewey, Worcester,
Mass.; Pres., Clark V. Wood, Springfield, Mass.; Vice-Pres., Chas. E.
Ware, Fitchburg, Mass.; Sec., F. P. Mclntyre, Springfield, Mass.;Treas.,
Leverett Oandee, Springfield, Mass.—V. 104, p. 2559; f. 106, p. 1689,2757;
V. 108, p. 2433; Y. 109, p. 776, 1987. 2176; V. 110, p. 970..
(1) Springfield Railway Companies.—A holding company.
ORGANIZATION.—Formed in March 1905 to hold a majority of the
stock of the Springfield Street Ry.
Is managed by a board of trustees!
consisting of seven members.
V. 80. p. 1363.
STOCK—
Interest.
Outstanding.
Last Div.
Common
All owned by New Eng. Inv. A 8ecur. Oo.—
Pref 4% cum guar ($100)—4 J-J
$3,387,900 July '20, 2%
Stock.—The pref. stock is red. at 105 and accr. divs.
These divs. are
tuar. by theN. Y. N. H. A H. RR. Oo., successor to Consol. Ry., as well as
their payment at 105 in case of liquidation or call.
See V. 80, p. 1363,1914.
V. 105, P. 2095.
—
(a) Springfield
——
Street Ry.—A trolley road.
ORGANIZATION.—Incorporated
March
16
1868.
Purchase
of
Massachusetts Street Ry. and Issue of $550,000 additional
stock for that purpose approved by Mass. RR. Oomm. Nov. 30 1909.
V.
89. p. 1484.
On Nov. 26 1910 Mass. RR. Oomm. granted permission to pur¬
chase the Springfield A Eastern St. Ry. and issue $900,000 new stock in ex¬
change. share for share, for stock of the absorbed company.
V. 91, p. 277,
1513.
In May 1917 made a contract with the Turners Falls Pow. A Elec.
Oo. for the purchase of its entire power requirements.
V. 104, p. 2119.
In April 1918 was authorized by the P. S. Commission to establish a
two-unft-fare program.
The 5-cent fare was retained in the centre of
Springfield within a radius of 2 miles.
Beyond this limit a 6-cent fare alone
was established, followed by a second 5-cent zone.
In Sept. 1918 was
auth- to charge a straight 6-cent fare, effective Sept. 16 1918. V. 107, p.
1194.
Compare V. 107, p. 803.
Effective Oct. 19 1919 fare was raised
Western
•
In July 1920 was auth. by the Mass.
Dept. of P. U. to issue $2,964,000
20-year 7% bonds.
Of the proceeds $2,230,000 will be used for retiring
or refunding bonds maturing within the next few years and the remainder
for additions and Improvements.
V. Ill, p. 295.
STOCK AND BONDS—
Dale.
Interest.
Outstanding.
Maturity.
Stock$4,654,700 ($100)——.
Text
$4,654,700
See text
First mtge $1,700,000 gold\ 1903
4g A-O
1.700.000 April I 1923
($1,000) —!
c*.ntf jSpringfield Safe Dep. A Trust Co., Trustee.
West Mass St Ry first mtge ( 1908
5 g F-A
200,000 Feb 1 1926
(closed) gold ($1,000) —.tfJlnt. at Springfield S. D. A Tr. Co., Trustee.
Springfield & Eastern 1st Ml 1902
5 g J-J
330,000
Jan 1 1922
(closed) g ($1,000) c*-ntf/Int. at Springfield S. D. A Tr. Co., Trustee.
Current liabilities Dec. 31 1920
948,093
Bonds.—Western Mass. St. Ry. bonds are subject to call on any interest
day at 108 and int. on 60 days' notice.
Springf. A Eastern bonds are
subject to call at 105 on 60 days' notice.
..........
DIVIDENDS.—In years 1893 to July 30 1910, inclusive, 8% per annum,
1910-11 to 1913-14. 7%; in 1914-15, 6H%; In 1915-16. «H%; In Dec.
1916. 1*4%'
None since.
V. 105, p. 1999.
ROAD.—Owns 176.72 miles (incl. 35.30 miles of 2d track) of main track
und 14.73 miles of sidings.
Total, 191.83 miles.
In
EARNINGS.—For cal. years:
Gross
Net
Interest,
Year—
Earnings. Earnings. Tax.,Ac.
Dividends
'
Paid.
Surplus or
Total
Deficit.
Surplus.
sur.$246,281 $108,179
1919—.$3,064,637 $490,012 $243,731
None.
sur. 46,903 df65.377
1918.-- 2,592,330
320,805
273,902
None.
def. 133,179 111,893
1917.
2,497,514
131,635
264,814
None.
—V. 106, p. 2650; V. 107. p. 604, 803, 1194; V. 108. p
1512;V. 109, P.
777, 889; V. 110, p. 765, 1850; V. Ill, p. 295.
—
(2) Worcester Consolidated Street Ry.—Trolley.
This company, which was Incorporated in 1886 as the Citizens' Street Ry
Co., has absorbed the following companies :
Worcester A Clinton Street Ry.
Clinton A Hudson Street Ry.,
Worcester A Holden Street Ry.,
Fitchburg A Suburban Street Ry.,
Worcester A Marlboro Street Ry.,
Leominster A Clinton Street Ry.,
Worcester A Southbrtdge Street Ry.,
Marlboro A Westboro Street Ry.,
Worcester A Suburban Street Ry,.
Wore. A Blackstone Val. St. Ry.,
Franchises perpetual.
In 1895 leased for 99 years the North End St. Ry.,
of 5.13 miles, at a yearly rental of $8,000.
The North End has $110,000
($100) capital stock and $75,000 5% 1st mtge. bonds, due Feb. 1 1915; int.
F. A A.
Also leases for 99 years from July 1 1896 both the Worcester A
Shrewsbury St. Ry. Co. and the Worcester A Shrewsbury RR. Co.
3,865 shares
1st pref. and 33,260 shares common stock are owned by
the N. E. Inv. & Sec. Co.
In Aug. 1909 permission was granted to Issue $922,000 bonds to retire
floating debt Jena $2,260,000 bonds to retire funded debt.
V. 86, p. 1346;.
V. 89, p. 412>
Up to April 1 1920, $1,499,000 had been Issued.
14
In Jan.TO 13 the Mass. RR. Oomm. approved an Issue of $500,000 1st a
k ret. 4Hs, the proceeds of $450,000 being used to acquire the power houss
and property of the Electric Mfg. Oo. and $50,000 for the purchase of the
Quinsigamond Park property for a pleasure resort. The co. is required to
establish a s. f. by ann. payment of $1,949 till maturity of bds. V. 96, p. 362.
New
Preferred Stock.—In May 1917 the Mass. P. S. Comm. auth. the co.
(a) 45^000 shares of 1st pref. stock (par $80) to retire 36,000 shares
to issue
of common stock at par ($100), which was accordingly done, and
of 1st Ref. 4 H % 20-year bonds to retire $40,000 uxbridge A
(ft) $40,000
Blackstone
These bonds at last accounts (April 1920)
had not been issued.
INVESTMENT & SECURITY CO.
$100,000 common stock of this company*formerly
Porter was acquired by a preferred stockholders'
committee (V. 99, p. 1215) In Oct. 1914. Holders or about 34,000 shares of
pref. stock subscribed $10 for every share of pref. owned In order to effect
ENQLAND
New Control.—The
held by Sanderson A
number of shares of 1st
Int. on
Notes.
$38,655
37,381
5% debentures due Oct. 1 1927.
NEW
■
to 7 cents.
General mortgage $500,000 g
($1,000).
$53,327
52,539
319,631
.....
1917
TIDEWATER POWER CO*
139
On April 11 1919 was auth. by the Massachusetts P. S. Oomm. to extend
for two years from Jan. 1 1919 at 7% the $115,000 20-year 1st M. 5s of the
Worcester A Clinton Ry., which matured on that date.
V. 108, p. 1612,
2242.
Fare Increases.—On
April 18
1919
cash fares were increased to 7c, with
tickets at 6He.
Effective Nov. 29 1919 a zone system was adopted with
fare of 5 cents per zone.
All workmen's and reduced rate tickets being
abolished.
On Jan. 4 1920 fare per zone in Worcester was raised to 6c,
and on March 7 1920 to 7c. in each zone; suburban fare, 6c.
V. 110,
a
1850, 2193.
In Nov. 1919 the Webster A Dudley St. Ry, issued $30,000 1st M. 5%
20-yr. bonds to refund a like amount or 1st Mtge. bonds due at that time.
In Dec. 1919 the Worcester A Webster St. Ry. was auth. by the Mass.
P. S. Comm. to issue $150,000 1st M. 20-yr. bonds at not to exceed 5%,
to refund a like amount of similar bonds due Dec. 1 1919.
V, 109, p. 2176.
Tha co.'s $700,000 4H% debentures due Mar. 1 1920 were extended for
5 years at 7%.
V. 110, p. 872, 972.
p.
STOCK AND BONDS—
Date.
Common$3,326,000 ($100).—
Pref (see text) $3,600,000 ($80)
....
Interest.
...
Outstanding.
$3,320,000
mtgf 1910
4H 8 F-A
($1,000) cHfiOld Colony Trust Co., Boston, Trustee.
debf 1907
5 M-N
1.200,000 Nov 11927
Wore Consol St 1st A ref
$5,000,000
Worcester
g
Maturity.
.———
3,600,000
See text
1,499,000 Aug 11930
.——
Consolidated
$1,364,000
($1,000)—ntflOld Colony Trust Co., Boston, Trustee.
7 g M-S
700,000 Mar 11925
7g J-J
115,000 Jan
1 1921
mortgage gold ($1,000) ntf (American Trust Co., Boston, Trustee.
Wore A Blackstone Val 1st Mf 1906
4H g F-A
200,000 Aug 1 1926
$200,000 g ($1.000) .cntf\Int. at Mechanics Nat Bk., Worcester, Mass.
Uxbridge A BlaCkst first ( 1903
5 F-A
80.000 Feb 2 1923
M $80,000 ($1,000)-Cntf lint, at Old Colony Tr. Go., Boston, Trustee.
Uxbridge A Blackst debenf 1907
5 A-O
40,000 Oct
1 1927
Interest at office of company.
($1,000)
—tf
1901
5 g J-J
Marlb A Westb 1st M $160,-,
160,000 July 1 1921
000 g($1,000) red 105c»ntf Int. at Amer. Trust Co., Boston, Trustee.
Wore A Hold 1st mtge $150.-1
1903
5 A-O
150,000 Oct
11923
Wore Con deb g $840,000 ntf 1900
Worcester
A
Clinton
first? 1899
-
_
-
($1,000) red at 105 Interest at Worcester Bank A Trust Co;,
Worcester, Trustee.
p. 995)—
cntf.
1902
1st mtge (see
4H g M-S
500.000 Sept 1 1922
text) gold ($1,000)..c*ntf Int. at Internat. Trust Co.. Bost., Trustee.
Worcester A South mtge (aesl 1905
4H 8 J-D
200,000 June 1 1925
text)
-ntn
Leased to Worcester Consoiidated—
W ebster & Dudley I Stock—— f._—
..........
50,000 ....
(Mortgage {1919
5 M-N
30.000 Nov 11939
000
g
(V. 89,
Wor
A
South
—
—
_
(Int. at Old Colony Trust Co., Boston.
Leased to Webster & Dudley, oper. by
Wore
YORK, PA.
Wore. Consol.—
150,000
(Stock
U«t M $150,000 ($1.-/ 1919
5 g J-D
150.000
Web {
000) gold
c*ntfllnt. at State Street Trust Co.,
Current liabilities Dec. 31 1919 (incl. all sub. cos.). 1,174,759
&
-
YORK RAILWAYS.—A
Dec 11939
Boston.
ORGANIZATION.—Incorporated In Pennsylvania Nov. 15 1907 as a
operating in York and vicinity.
V. 85, p. 1403.
198
The following companies have been consolidated or merged:
York Street Railway Co..
York Haven Street Ry. Co.
Wrightsville k York Street Ry. Co.
Red Lion k Windsor Street Ry. Co.
York k Dover Electric Ry. Co.,
Hanover k York Street Ry. Co.
York k Dallas town Ry. Co.
Owns entire capital stock of Edison Light k Power Co. (except H of 1
share), incorporated in April 1913 to take over the lighting and power sub¬
sidiaries of tne York Railways and other properties, including the Edison
Electric Light Co., the lighting companies of West York, North York, Man¬
chester, Mount Wolf, Dover, Hallam and others.
In July 1915 the Mer¬
chants' Electric Light, Heat k Power Co. of York was purchased and with
five suburban lighting companies consolidated with the Edison Light k
Power Co.
During 1916 a municipal lighting system was installed in York
bonds are sub. to call on any Int.
Int. is payable at company's office or at its agency in
k South bridge St. Ry.
are secured by the same mtge., the mtge. providing that bonds can be issued
ud to $1,000,000, and are to bear date of issue and be payable 20 years after
date.
The Worcester Consol. debentures originally bore 41£% int. and
matured Mar. 1 1920 but were extended for 5 years at 7%.
V. 110, p. 872.
The Worcester & Clinton 1st M. bonds were originally 5s and were due
Jan. 1 1919, but were extended to Jan. 1 1921 at 7%.
V. 108, p. 2242.
Bonds.—Wore. Consol. Ry. 1st k Ref.
day at 110 and int.
19
The two Issues of bonds of the Worcester
Dividend.—The June
poned.
V. 107,
1918
dividend on the preferred stock
was
a ten-year contract.
Also owns
Co. and York Steam Heating Co. (V.
under
post¬
ROAD.—Operates 304.49 miles of track, comprising the entire street
railway mileage of Worcester, together with lines radiating from Worcester
to Leominster, Fitchburg, Clinton, Berlin, Northboro, Marltroro, Millbury.
Northbridge, tJxbridge, Millville, Spencer, Webster, Dudley, Grafton and
Southbridge.
1
EARNINGS.—For cal. years:
Year—
Gross.
Net.
Charges.
Divs.
$3,934,256
$644,414
$455,041
None
3,341,713
574,876
450,676
None
3,361,616
934,565
526,285 $370,175
168, 765, 872, 972, 1850, 2193; V. Ill, p. 1473.
.
1919
1917
—V. 110, p.
(3) MUford Attleboro & Woonsocket
$2,500,000
---------1.600,000 Oct'20.14i%
4.938,000 Dec 1 1937
c*tfl Guar. Trust & Safe Den Co .Phila.. trustee.
Stock and Bonds.—Pref. stock is cumulative 3 years from date of issue.
The stock of the controlled Edison Light & Power Co and York Suburban
Land Co. are deposited as additional security for the bonds.
$320,000
bonds in treasury.
Remaining bonds can only be Issued under certain re¬
strictions.
No sinking fund.
See particulars of bonds, property, &c., in
V. 87. p. 40.
Stocks and bonds are listed on the Phila. Stock Exchange.
Common $2,500,000 ($50)
Pref $2,000,000 5% cum ($50)
1st mtge k coll tr
gold ($1.000)
Surplus.
$189,373
124,200
38,105
V. 89. p. 412:
*
on pref.— 1%—paid July 1911.
In 1912, 4%
In 1915 the regular Jan. div. of 2H% was paid In
5% scrip dated Jan 30 and maturing Jan. 30 1918, but called for payment
on Jan. 30 1916.
The July div. of 2H% was paid In cash. In 1916,6)4%.
In 1917, 5% and 244% extra in Jan. in full payment of accumulations.
in 1918 and 1919, 5%.
In 1920, Jan., 1 %%\ April, 1H%: July. 1K%'.
Oct. 1H%.
raised from 5 cents to 6 cents.
The $300,000 1st M. bonds were originally 5s and matured
were extended for 5 years at 6%.
V. 109, p. 1080.
Oct. 1 1919,
$300,000
not subject to
107,482
112,654
June 30 1916
June 30 1915—
Latest
1918-19
1917-18
Earnings.—For cal. year 1919:
$149,422
$19,783
107,
p.
Stock $275,000 (par
$275,000
and
ROAD.—Owns 24.10 miles of track
1.87
Dec.
31
Dec.
31
1918
1917
Common
6%
c tf 1916
5 M-S
$30,000 pref. stock in treasury in addition to
Bonds.—$800,000 are reserved for extensions
safeguards.
Red. at 10244 and int. at any
$5,000 at 10244 and int. annually,
began
Trust Co., N.
1910.
Maturity.
------
694,000 Sept 1 1930
amount reported outstand'g.
and addi tions under certai n
time.
Sink, fund to retire
Sept. 1 1919.
Guaranty
Y., trustee.
12 mos. end. June 30 1920, gross, $311,249;
$85,142; fixed charges, $35,110; surplus, $50,031.
EARNINGS.—For
Balance.
sur.$33,090
sur. 7,998
sur. 3,467
kAILWAYS
$750,000
Preferred (cum) $750,000
1st
M
$1,500,000
after taxes,
236; V. 107, p. 696; V. 109, p. 776; V. 110, p. 1849; V. Ill, p. 294.
ELECTRIC
acquired the prop¬
Outstanding.
$350,000
Interest.
Date.
STOCK AND BONDS—
Dec'14, 2%
OFFICERS.—Pres., C. V. Wood, Springfield; V.-P., Francis H. Dewey,
Worcester; Gen. Mgr., H. C. Page, Worcester; Treas., L. Candee, Spring¬
field; Clerk, F. P. Mclntyre, Springfield; Aud., J. W. Jamieson.—Y. 73,
p.
Service Co., a Maine
2013.)
(V. 103, p. 940, 1033).
Last Div
Divs.
of Republic
Southern Ry., sold at foreclosure Sept. 2
erty of the Youngstown &
miles of sidings, from
Attleborough and Plain-
Gross.
Net.
Charges.
$233,023
$55,206
$22,116
187,091
29,782
21,784
195,697
24,163
20.696
OHIO.
ORGANIZATION.—Incorp. in Ohio, Sept. 1916 and
ville, Mass.
Year ending—
Dec. 311919
1838;
YOUNQSTOWN & SUBURBAN RY. CO.
div.,
Rhode Island State line to North Attleborough,
165; V. 106, p. 603, 823; V. 107, p.
In May 1917 control was acquired by Municipal
holding corporation. (V. 104, p. 1387, 1592, 1900,
11%, tor 2 years, paid April 1 1904; In 1905
7%; In 1906. 7%; in 1909. 5%; in 1910 to 1912, incl., 4%; in 1913, 5%; in
1914, June, 6%; Dec., 2%.
None since.
Dividends.—First
81,018
144,018
PENNSYLVANIA-OHIO ELECTRIC CO.—Subsidiary
Railway & Light Co., which see under "New York."
—200,015
-
an
YOUNGSTOWN,
Outstanding.
$100)
Current liabilities Dec. 31 1919
229,408
85.15 miles of track centering In York.
interurban line between Hanover and York, 17.33 miles.
Aud., J. J. Landers.—V. 104, p.
V. 108, p. 785; V. 110, p. 360.
def$2,709
P. S. Comm. approved Increases
accomplished by shortening fare
Interest.
230,195
373,426
10 other cars
696.
STOCK—
311,213
1,051,472
OFFICERS.—Pres. & Gen. Mgr., Gordon Campbell; V.-P., L. C.
V.-P., J. E. Wayne; Sec., M. G. Stees; Treas., E. A. Barnitz;
On April 18 1920 fares were raised from 6 to
7 cents under a temporary order of the Mass. Dept. of P. U.
V. 110, p.
1849.
In July 1920 fares were reduced to 5 cents but zones were readjusted.
V. Ill,p. 294.
V.
1,091,851
Fixed
Maver:
ORGANIZATION.—organized as successor In
Massachusetts to the
Inter-state Consolidated of Rhode Isle nd.
Has permission to carry freight.
sections.
$186,666
1—
Including
INTER-STATE CONSOLIDATED STREET RY.
Fare Increase.—In Aug. 1918 the Mass.
In rates ranging from 50 to 100% to be
Balance,
Surplus.
$231,598
ROAD.—Owns and operates about
721
108
$22,492
ROAD.—Operates 30.05 miles of track.
23 passenger and
(incl. 3 plows).—V. 109, p. 1080, 1527; V. 110, p. 765.
Charges.
$418,263
f...
1916-17
1 1924
Trust.
Surplus.
def$l,745
$300,000 Oct
6 A-O
Net. Int. & Taxes. Divs.
$17,524
$19,269
21,667
20,946
33,019
20,311
$12,600
Net, after
Taxes & Deprec'n.
$1,369,215
Year—
ntf lint, at Old Colony Trust Co., Boston,
Gross.
$107,905
Gross
Earnings.
Nov. 30
Interest.
Outstanding.
Maturity.
All owned by New England Inv. k Secur. Co.
Date.
($1,000)/ 1899
g
call
Year ending—
Dec. 31 1916
Nov. 30:
EARNINGS.—For years ending
but
First M
V. 94. p. 984
Dividends.—Initial div
ORGANIZATION.—Incorporated in Massachusetts on April 14 1898.
Fares.—On Oct. 13 1919 the co. increased the number of zones from 13 to
V. 109, p. 1527.
Compare V". 108, p. 2433.
On Mar. 7 1920 fares
STOCK AND BONDS—
Stock $315,000
...
Q-J
5 J-D
$10,000,000/ 1907
In 1913 and 1914, 5%.
Street Ry.
16.
were
entire stock of York Suburban Land
85. p. 1463).
the Penna. P. S. Comm. new schedules.
Increasing trolley fares from 6 to 7 cents within the city zone and increasing
rates for power. V. 107, p. 1838.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Rates.—In Nov. 1918 filed with
None paid since.
403.
p.
trolley road.
consolidation of properties
Franchise perpetual.
Preferred Stock.—The pref. stock is entitled to cum. divs. of $5 per share
p. a. (J. 30 k D. 31) and $105 per share in case of liquidation.
While anj
matured div. on 1st pref. stock is unpaid or while the unfunded and current
debt of the co. shall exceed 25% of the entire capital stock, 1st pref. share¬
holders may elect a majority of the directors.
The 1st pref. stock may not
be increased without consent of 2-3 of its holders except that in case of con¬
solidation with Springfield St. Ry. $2,750,000 may be issued without such
consent. V. 104, p. 2344.
Boston.
[VOL. 111.
ELECTRIC RAILWAYS
140
ROAD.—Operates interurban road between Youngstown
about 20 m.
12 passenger, 11 freight and express, 1
1 snow plow.
net,
and Leetonia,
work car and
OFFICERS—Pres., Fred Todd; Vice-P's., J. H. McClure and Jos.
Swain, Jr.; Sec., JohnE. Zimmermann, Treas., L. B. Harvey; Oper.
Mgrs., Day & Zimmermann, Inc.—V. 104, p. 1387, 1592, 1900 , 2013.
W.
ISLAND
IN
POSSESSIONS
AND
FOREIGN
COUNTRIES
Notes.—No mtge. bonds or
HALIFAX, N. S.
NOVA SCOTIA
TRAMWAYS
&
POWER
Int.
City.
ORGANIZATION.—Incorp. in Nova Scotia In 1914 and in Jan. 1917
acquired (a) the properties and franchises of the Halifax Electric Tramway
Co., Ltd., comprising all street railways, commercial electric light and power
and gas properties in Halifax; and (b) water power rights, lands, &c., on
the Gaspereaux River, 55 miles from Halifax, capable of a hydro-electric
development of approximately 12,000 h. p.
Franchises, In opinion of counsel, are perpetual
The stock was offered in Jan. 1917 in blocks of 10 shares of pref. and 3
■hares com
stock for $1,000.
V. 104, p. 164.
In acting upon the co.'s
application for auth. to increase Its capital stock
by $4,000,000 and to issue $975,000 in bonds, the P. U. Comm. in Dec. 1917
~uth. items
Involving a capital expenditure of $845,641, and held over
for further consideration items aggregating $569,686.
In Nov. 1919 the co.
applied to the Bd. of P. U. for auth. to issue $440,000
securities, part of the proceeds to be used to purchase the property
Dartmouth Gas, Elec. Lt. & Pow. Co.
For further details see
V. 109, p. 1987.
The common stockholders on June 24 1919 auth. an issue of $2,000,000
In
new
of
the
3-yr. 7 % notes, half of which were put out in July 1919 to provide for add'ns.
V. 109. p. 270.
Compare V. 108, p. 2630. 2434.
exts. & impts.
...
debentures except the 1st M. bonds may be
secured In the same manner as such new issue.
payable at agency of Canadian Bank of Commerce in N.&Y.
V. 109, p. 270.
Issued unless these notes are
CO.
also
paid on pref. stock in July 1917. the
In 1918, 6%.
In 1919,6%. In 1920,
Dividends.—A dividend of 3% was
Dec. 1917 dividend being deferred.
V. 110, p. 167.
Jan. div. omitted.
Earnings.—Of Halifax Elec. Tram. Co. (and consolidated cos. beginning
1917) for cal. years:
1914.
1915.
1916.
1917.
1918.
1919.
Gross earns
$645,241 $718,840 $759,726 $859,668 $998,702 $1,258,502
Net. aft. taxes. 269,818
301,753 311,882
131,506 135,974
x211,510
with
x Balance
after
divs. of $4,527.
$144,619
and
int.
amortiz.
chgs., and $62,364 pref.
PROPERTIES.— 22 miles of street railway, single track equivalent
Standard gauge; 60-lb. T and 80-lb. girder rails.
41 passenger cars; 24 Bir-
safety cars; 5 sweepers, 5 misc. cars, &c.; poewr house with 6,200 h. p.
capacity; lighting and power distribution system; gas plant, with about
45.7 miles of pipe line.
ney
W. H. Covert, K. C.; Sec.,
Treas., J. R. Blackett.
Under management of
Mass.
Mgr., W. L. Weston.—V. 108, p. 1512,
2123, 2434, 2630; V. 109, p. 270; V. 110, p. 167, 2388.
OFFICERS.—Pres., A. Stuart Pratt; V.-P.,
H. A. Lemmon; Comp. &
Stone & Webster, Boston,
Fare Increase.—In May 1920 the co. was auth. to increase fares to 7 cents.
STOCK AND BONDS—
Date.
Com stock $3,500,000 ($100)
Pf 6% cum $2,500,000 ($100)
Interest.
J-J 2
Outstanding.
$2,510,000
Maturity.
2,078,800 July'19, 3%
lit M $10,000,000 gold $ or
£\ 1916
5 g J-D
2,250,000 Dec 1 1946
($1,000 and $500)
c*-tf/Int. In New York, Montreal and London.
3-year notes $2,000,000 1
1919
7 g J-D
1,000,000 June 1 1922
g ($500 &
$1 000)-C, Int. at Can. Bk. of Commerce,Halifax or Montreal.
Preferred Stock.—Divs. payable without deduction for any taxes imposed
by any
taxing authority
in Canada.
Bonds.—Remaining bonds may be issued up to 75% of cost of acquisitions
Impr'ts (except that no bonds may be Issued against the cost or the new
plant) and only when net earnings are double the 1st M. Interest
charges, including bonds to be Issued.
Annual sinking or impt. fund of
1% of bonds out began Dec. 1917, for add'ns or impts., or for redemption
of bonds.
Callable, all or part, for sinking fund, at 105 and int. on any
Int. date on 60 days' notice.
Int. payable without deduction for Canadian
taxes or U. 8. Federal taxes.
Fixed exchange rate, $4 86 2-3 per £ sterling.
Trustees, Union Trust Co. of N. Y., and Royal Trust Co., Montreal.
or
gas
HAMILTON, ONTARIO.
DOMINION POWER
& TRANSMISSION CO.
ORGANIZATION.—Incorp.
in
Canada
on
and operates
Jan.
the following properties:
Ham. Elec.
damiiton Cataract P., Lt. & Tr.Co.
Hamilton Radial Elec. Ry.,
Brantford & Hamilton Elec. Ry.,
1907.
Controls
Dundas Electric Co.,
Lincoln Elec. Lt. & Power Co.,
Counties Electric Co.,
Western
Hamilton Street Ry.,
Hamilton k Dundas St. Ry.,
Ham. Grimsby k
II
Lt. & Power Co.
Weliand Electrical
Beamsville Ry.,
Hamilton
Interest.
Terminal
Co.,
Co.
Outstanding.
Maturity,
$7,714,500 Sept'20,1%
J-J
3.681.100 July'20, 3H
5 g A-O
1907
5.098,000
See text
lit
$25,000,000
mortgage
c*tf Harris Tr. k Savs. Bk. of Chicago, Trustee.
($1,000) gold.
Nat. Trust Co., Ltd., Toronto, Can., trust.
STOCK AND BONDS—
Ordinary $9,900,000 ($100)
Preference $10,000,000 ($100)
Date.
Ocm, 1920. J
STOOK AND BONDS—
fcUui Uai PL & Tr Uo.
Date.
Ltd./
Interest.
1903
Outstanding.
5 A-O
Maturity.
1.872.000 April I 1943
Nat. Trust Oo.,
1st & ref M 85.000.000 gold!Int. in Hamilton & N. Y.
—c*ntf{
<81.000)
v.'.
I
«
Ham Elec Lt & Cat Pow
istf
Ltd., Toronto, trustee.
Callable at 110 &
Int. beginning April 1 1923.
1899
5 g A-O
809.000 Oct
1 1929
mortgage gold ($1,000) not {Int. payable in N. Y. or Hamilton National
—c*tfI
Trust Co., Toronto, Trustee.
callable
Hamilton Street Ry 1st mtge- 1898
Ham Grims & B El Ry 1st M__ 1895
4)4 J-D
360.000 Dec 22 1928
•
5 M-N
1925
150.000
Hands.—Of the $25,000,000 mortgage, $10,000,000 may be issued, with
the
141
ELECTRIC RAILWAYS
approval of the trustee, for not exceeding 80% of cash cost of extensions
and additions, and the remainder for not exceeding 75%.
Since April 1
1917 the entire outstanding issue, but not any part thereof, can be called
at 107yi and Interest on any coupon date on 60 days' notice.
The bonds
mature $54,000 annually from April.1 1914 to 1921 and $108,000 annuallv
from April I 1922 to 1931, and the remaining $3,910,000 are due
Apri' '
1932.
They are secured by all the property owned through deposit of
holders
voted to issue $400,000 additional stock
bond issue to be availed of as funds are required.
-
equally between Govt, of Hawaii and stockholders.
All
pref. stock was converted into com. in 1913.
■
Dividends.—On common Dec. 31 1903.1%; in 1904, 4%; in 1905,4%: in
1906, 3M%; In 1907, 3%; in 1908, 4%; in 1909, 4%; in 1910, 4%; in 1911
and 1912. 6%; in 1913. and since, 8% per annum.
must be divided
REPORT.— For years ending Dec. 31:
Calendar
Gross
Net
Int., Taxes,
Year.
Earnings.
Earnings.
Deprcn ..Ac.
1919
$325,252
$247,302
—$780,946
1918
312,567
232,153
735,151
1917
726,603
332,636
227.025
1916—— 669,982
314.546
117,933
—
Passengers carried
;% was paid; July,
1912, Jan., 3H%:
3M%>
A div.
ofdH%was paid Feb. 15 1913 In full of arrears; July, 3H %.
i%.
In 1914
anl since, 7%perann.
Initial div. on com.—2%—paid June 1916; Dec..
2%.
In Sept. 1917 paid quarterly div. of 1% and same rate has been paid
quarterly since.
Dividends
Balance,
(8%).
Surplus.
$160,000 def. $82,051
160,000 def. 79,586
152,000 def.46,388
112.300
84,313
.
in 1919, 19,086,786, against 17,888.937 in 1918.
—
«tock and bonds with trustee, &c.
Dividends.—On the preference stock 6% was paid In 1907; in 1908, 3%
was paid.
_In Dec. 1908 it was decided to omit div. on both clasess of pref
and to create a 5%
STOCK.—Authorized and outstanding (par $100), $2,000*000.
Divi¬
dends payable Q.-M. 31.
'
Dividends may not exceed 8% on par value of stock issued.
Excess or
Income (after providing for sinking fund to retire bonds and capital stock)
.
,
.
ROAD.—Operates 26 miles of track.
Gauge, 4 ft.; 70 and 85-lb. rails
54 vestibuled motor cars; capacity of generators, 1,900 k. w.
Thurston; 2d V.-P,.
Mgr., H. S. John¬
759,938; V. 104, p. 1387; V. 106, p. 1577.
OFFICERS.—Pres., L. T. Peck; 1st V.-P., L. A
Q. P. Castle; Sec., A. L. Castle: Treas., C. H. Atherton;
son.—V. 102, p. 1350; V. 103, p.
...
„
.
~
EARNINGS.—Incl. subsidiary cos. :
Calendar
Gross
Net
Maint. A
Divs.
Bond*
Balance,
Year—
Earnings.
Earnings.
Ren'ls.
Int., Ac.
Paid.
Surplus.
1919———$3,477,386 $1,189,682 $35,116 $466,067 $533,413 $155,086
1918
3.204,644
1,160,177
58,992
438,121
533.993
129.070
RDAD.—Controls 33 miles of single track in Hamilton and 86 miles of
interurban lines, and also supplies light and power to Hamilton, Brantford
St.
Catharines, Welland and intervening territory.
Likewise owns a
58,610 h. p. hydro-electric station.
In the summer of 1917, put into
operation
a steam-generating station.
OFFICERS.—Pres., J. R. Moodie; V.-P., Cyrus A. Birge; Sec. & Man g
Wm. C. Hawkins; Gen. Mgr., Edward P. Coleman; Treas., Jamw
Dixon; Aud., C. S. Scott; Asst. Sec., Geo. D. Fearman.
V. 104, p. 857;
V. 105, p. 909; V. 106, p. 929,2338; V. 108, p. 784; V. 110, p. 764.
Dir..
HAVANA.
HAVANA
ELECTRIC
LIGHT
POWER
CO.
.
approved by the stockholders of the Havana Elec. Ry., L. & P. Co.
The Havana Electric Ry. stockholders approved the plan on May 27 1913
and on June 18 1913 articles of consolidation were filed.
V. 96, p. 1840
To date 49,989 (out of 50,000) shares pref. and 74,885 (out of 75.000)
shares common stock of the Havana Elec. Ry. have been deposited for ex¬
change of securities of new company.
The Havana Elec. Ry. owned entire
$100,000 stock of the Insular Ry. Oo.
Railway franchise runs until 1958
Company also has right to carry freight ever parts o 1 the system.
Gas and
electric franchises perpetual.
.
Stock Increase.—Stockholders voted
on
May 21 1917 to increase the pref
stock
from $15,000,000 to $21,000,000 to provide for the retirement on
1917, at par and int., of the $6,000,000 6% general consolidated
obligations of the former Companla de Gas y Electricidad de la Habana.
which were assumed by the Havana Elec. RyLt. & P. Co
and constituted
a lien upon its
property prior to the lien of its general M. bonds.
Com. and
pref. stockholders of record May 28 1917 were offered the right to subscribe
for new stock pro rata at par and div.
V. 104. p. 2118.
June 15
,
STOCK AND BONDS-—
Date.
Interest.
M-N
Outstanding.
Maturity.
$15,000,000 Nov 20 3%
ri
cum
M-N
.UUU.UW W1UW
21,000.000
Nov'20,3%
Pf6% cum $21,000,000 ($100)
Hav Elec Ry consol M $10.-/ 1902
5 g F-A
8.874.111
Feb 1 1952
Central Trust Co., New York, Trustee.
000.000 g ($1,000) s f_c*&r\Oentr
Hav El Ry L & P gen mtge
1914
5 g M-S
5,845,000 Sept 1 1954
$25,000,000 ($1,000 & $5.Guaranty Trust Co., N. Y„ Trustee.
000) gold
c*&r
Common $15.000.000 ($100)-
——
—
Gas A Electric Co. issues—
Gold mortgage...
1904
"English bonds" (£150,000)- 1906
3,998.000 June 1 1954
583,383
1943
6%
5%
Stock.—Pref. stock is red. at $115 per share and accrued divs.
Both
and pref. are listed on N. Y. Stock Exch.
V. 94, p. 1632.
$51,594
and $21,523 pref. stock included in amounts reported outstand¬
com.
common
ing
are
in treasury.
v
Bonds.—Of the Havana Electric Oo. consolidated bonds reported out¬
standing/ $535,541 are in treasury. $1,125,889 have been canceled.
A
sinking fund commenced Jan. 1 1906 on the outstanding consols.
Bonds
may be called for sinking fund at 105 and interest, and entire issue can be
redeemed at 105 and int. on any int. day upon 6 mos.' notice.
See V. 74.
£.xchange.Int. payable at company's office.
1251.
V. 86, p. 918.
They are listed on N. Y. Stock
The gen. mtge. bonds are red. on 30 days' notice at 105.
Sink, fund of
1H% on outstanding bonds begins in 1920.
Interest payable in N. Y
without deduction of any tax, except Federal income tax.
Of the $25,000.000 auth.. $10,450,000 are reserved to retire underlying liens. $52,000 are
deposited with Govt, of Cuba, $1,374,000 are in treasury and the remainder
for additions and improvements, under certain restrictions.
Listed on
N. Y. Stock Exchange.
V. 102. p. 2254; V. 106, p. 715Dividends.—Dividends on prer. stock were begun in Nov. 1912.
An
Initial dividend on the common stock, 2%%, waspaid in Nov. 1912.
In
1913, 5H%; In 1914. 5%; In 1915, 5H%; in 1916, 6%; in 1917, 6%; In
1918. 6%; in 1919, 6%; in 1920, 6%.
T
REPORT.—For calendar years (1919 report in V. 110, p. 2204):
Cat.
Gross
Net (after Other
Fixed
Pf. Div. Com.Divs. Balance,
Year—Earmngs.
Taxes).
Income. Charges.
(6^).
(6%)
Surplus.
1919—9,297,452 4,417,767
64,538 979,711 1,258,709 896,904 1,346,982
1918—8,176,544 3,799,889 140,895 989,138 1,258,709 896.905
796,031
83,709,762 passengers carried in 1919, against 75,611,777 in 1918.
Latest Earnings.—For 4 months ending
4 Mos.
1919
a
—
April 30:
Net (aft. Tax.). Other Inc.
Gross.
1920 —$3,641,076
$1,836,922
1,413,011
2,836,512
$26,660
32,939
198—
STOOK AND BONDS—
Date.
Stock $800,000 ($100)
First
mortgage
$600,000/1898
($500)
-
Outstanding.
Maturity.
$800,000
Oct'20. lk
Interest.
——_
5 g J-J
600.000
Jan 1 1928
c*/Montreal Trust & Deposit Co., Trustee.
gold.
Not subject to call.
(Interest at Bank of Montreal, Montreal.
Dividends.—First div. on stock—1%—paid April 1 1908; 1% was again
aid July 1 and Oct. 1 1908.
In 1909, 4H%', since, 5% per annum.
REPORT.—For years ending Dec. 31:
Year—
Gross.
Net.
Int.ARents.
„
,
,
Taxes.
Dividends.
Surplus.
$136,067
$42,000
$10,499
(5%)$40,000
$43,668
139.487
42,000
7,885
(5%) 40.000
49,602
Passengers carried in 1919, 6,463,947, against 4,837,931 in 1918.
1919$383,665
1918— 294,725
Gauge, 4 ft. 8H in.
St
ORGANIZATION.—Incorp. in New Jersey on Mar. 26 1912, absorbing
theCompania de Gas y Electricidad de la Habana (Gas & Electric Co. of
Havana), to acquire and hold the stocks of the Havana Elec. Ry. per plan
in V 94, p. 767.
On May 15 1913 a plan for the merger of the properties
was
ORGANIZATION.—Incorporated 1897 in Jamaica.
In 1907 took over
the lighting business on a rental basis.
Franchise expires Jan. 1 1928.
•ROAD.—Operates 24 miles of track in and around Kingston, Jamaica,
90-ib. girder and 60-lb. T. rails.
CUBA.
RAILWAY.
KINGSTON? JAMAICA.
WEST INDIA ELECTRIC CO.—A trolley road.
Charges.
$758,042
784,265
Surplus.
$1,105,540
661,685
Also operates
ROAD, &c.—Railway system, 93.79 miles of single track.
Has 498 cars; alk> has 15 motor buses.
178.28 miles gas
The consolidated power plant (capacity 37,500 k. w.) was com¬
stage line.
mains.
pleted in June 1916.
OFFICERS.—Pres. & Gen. Mgr., Frank Steinhart; V.-Ps., R. R. Loen
ing, Emeterio Zorrilla, Antonio San Miguel; Sec. & Treas., H. Kraemer.
N. Y. office, 55 Liberty St.—V. 106, p. 822, 2011, 2337; V. 108, p. 1822,
2017; V. 110, p. 2186, 2204, 2487; V. Ill, p. 1083.
OFFICERS.—Pres.,
Hutchison:
James
G.
V.-P.,
Crowdy;
J.
H. Ross Angers; Comp., I. M. Clark; Mgr., D. N. Barr.—V. 101, p.
V. 102, p. 1164; V. 103, p. 58; V. 104, p. 1168; V. 108, p. 1166.
Sec.,
284;
LONDON, CANADA.
LONDON STREET RAILWAY CO.—A trolley road.
Incorp. under
Franchise expires 1925. at which time, or any
fifth year thereafter the city has the right to purchase the property (except
Springbank line) on an arbitration basis, by giving one year's notice in
the laws of Canada in 1873.
,
advance.
Strike, Ac.—See V. 110, p. 2076, 2568.
STOOK
XND
BONDS—
Stock $750,000 ($40)_—
First mortgage $750,000
.
Date.
—
gold/ 1896
c*\Toronto
($1,000)
Maturity.
Outstanding.
Interest.
J-J
July*17' 3*"
$637,480
560,000 Mar. 8 19i
5 g M-S
Co.,
General Trusts
trustee.
Bonds.—The remaining $50,000 can only be issued for 66 2-3% of actual
cost of additions and extensions, when net earnings are equal to 10% of all
bonds out, including those to be issued; but
total debt must not exceed
per mile of single track. V. 78, p. 2384.
Interest is payable at the
Canadian Bank of Commerce. Toronto.
In each of the 10 years preceding
$20,000
maturity 5% of bonds shall be drawn by lot and redeemed at par oh 40
days' notice.
$140,000 have been retired.
■■■,—„
Dividends.—In 1901 8%
paid; in 1902, 8%; 6% In 1903. 1904, 1905
was
1906.
In 1907 dividends omitted on account of strike.
In 1908 to
1915, inclusive, 6% per annum. In 1916, Jan., 3% (cash); July, 3% (in
stock). In 1917, Jan.. 3% (cash); July, 3% (in stock). None since.
and
,
REPORT.—Years ending Dec. 31:
Gross.
Net.
1917
a
———
$83,232
86,768
$456,356
417,862
_
_
,
Surplus.
Deprec.
$29,209
Charges.
$38,733
39.291
$lf.290
a—
.
47,477
included In
Depreciation for 1917 adjusted through surplus account,
$105,000 written off the surplus.
ROAD.—Operates 36.10 miles of track.
Standard gauge. 56, 78. 75
58 motor cars, 5 trailers and 6 misc. care. Has
with the Ontario Hydro-Electric Power Commission.
and 80-lb. T and girder rail.
contract for power
OFFICERS.—Pres., Ohas. Ourrie. Akron, O.; Sec. & Treas., L.
London. Ont.; Gen. Mgr., C. B. King, London. Ont.—V. 104, p.
V. 108. p. 878; V. 110, p. 2076, 2568.
Tait.
1489;
V. 106, p. 607, 2345;
LONDON & LAKE ERIE RAILWAY & TRANSPORTATION CO.
15 1918 the company being defunct, ceased to operate, and;
On Oct.
according to official information, its assets have been scrapped.
V. 108, p. 2528.
Compare V. 109, p. 2263.
For history see this
tion of Sept. 29 1918.
MANILA, P. I.
THE MANILA ELECTRIC RAILROAD &
See also
publica¬
•
LIGHTING CORP.
ORGANIZATION.—Incorporated In Connecticut on June 28 1903, and
stocks and bonds of the Manila Elec. RR. Jfc Light Co., having a 50franchise from March 24 1903, practically the entire stock of the Union
Truck Co. and of the Companla de los Transvias de Filipinas, and over
98% of the stock of 'Electrlcista," a Spanish company having a 50-year
franchise for electric lighting and entire capital stock of Manila Suburban
Rys. Oo.
Besides doing the street railway business, supplies Hght and
power for private, municipal and Government use.
Municipality may ac¬
quire property after 25 years on a valuation fixed by net earnings, the Su¬
preme Court of the Islands being referee.
Stock and bonds are listed on the
owns
year
New York and London Stock Exchanges.
On Dec. 6 1909 increased authorized stock from
.
a
nf.n
-
$6,000,000 to $8,000,000
V. 90, p. 372.
'
In Sept. 1919 brought out an issue of $1,500,000 3-yr. 7% notes, proceeds
being used for add'ns and impts. V. 109, p. 1079, 1179-^
•'
In July 1920 the stockholders voted to increase the authorized pref. stock
from $2,000,000 to $3,000,000 and to change the rate from 7% to 8%.
No pref. stock is at present (Oct. 1920) outstanding.
Compare V. 110, p.
new
stock to be 8% cum. pref.
„
„
2192; V. Ill, p. 1472.
Date.
STOCK AND BONDS—
Stock com $6,000,000 ($100)—
Pref. $3,000,000 8% cum
First lien and coll tr $5,000.-/
Interest.
Maturity.
Omtanding.
$5,000,000
—
-
Oct 20. IX
None
—————
1903
5 g M-S
4.474,000 Mar.11953
c*(lnt. at Equitable Trust Oo., N. Y„ trustee.
-
-------
,
000gold ($1.000)
3-year notes $1,500,000 ($100.1
1919
7 g M-S T 1,500,000. Sept. I 1922
$500 and $1,000) g——c*tf/Int. at Guaranty Trust Co., N. Y., trustee
of bonds outstanding began Mar 1 1908
of bonds outstanding.
The fund ls to be
which price they
art subject to call for the purpose.
Are redeemable as a whole at 105 and
Interest on or after Mar. 1 1928.
V. 82, p. 218.
Bonds are listed on N. Y.
Stock Exchange.
$523,000 are in hands of trustee for sinking fund.
$3,000 held by trustees In lieu of mortgaged property sold.
Notes.—Have a sinking fund of 12 H % of the auth. amount wmch must
be expended annually either for betterments and impts. to the property or
Bonds.—A sinking fund of
HONOLULU, HAWAII.
HONOLULU RAPID TRANSIT & LAND CO.—Trolley.
ORGANIZATION.—Incorporated in Hawaii Aug. 30 1898.
Franchise
for 30 years from 1901, and permits the carrying of freight and mail
runs
as
well as passengers.
In 1903 purchased the Hawaiian Tramways Co. (having outstanding
£65.000 stock and £30,000 6% debentures, and comprising 12H miles of
track); payment being made by the issue of $150,000 6% bonds of the
Rapid Transit Co.; 910 shares of preferred stock and $59,150 in cash.
In
1909 the Pearl Harbor Trac.
Co.
was
incorporated with $100,000
stock, 99.3% owned by Honolulu Rapid Transit, for the purpose of ex
tending the Rapid Trans. Oo.'s line to Naval Station at Pearl Harbor.
On July 24 1916 the Supreme Court of Hawaii sustained the decision of
Judge Stuart in the Circuit Court at Honolulu iu 1915 denying the injunc¬
tion asked for by the Territory of Hawaii to prevent the go. from increasing
its capital stock from $1,207,500 to $1,600.000.
Stock was increased from $1,207,500 to $1,600,000 in Aug. 1916.
V
103. p. 938.
In 1917 It was increased to $2,000,000.
AMthe $528,000 1st M. 6% bonds due May 1 1927 were called for pay¬
ment
May 11917.
To provide therefor and for exts. and impts. the stock
and
ran
until
1917;
now
1%
invested in the bonds at not more than 105 and interest, at
for the retirement of notes by
purchase in the market or
call by lot at not
redemption price.
No new mtge, other thanpurchase
shall he created on any of the co. s property without equally
and ratably securing this issue.
Notes are red. all (or in Part; forsink, fd.)
upon any int. date on 1 month's notice ao 102 and Int. prior to Sept. 11921
and at 101 and int. thereafter.
Tax refundable in Penna.
Dividends.—In 1906 and 1907,3%; in 1908 to 1910 Incl.,4% In 1911.
5H%: in 1912. 1913 and 1914. 7%; since, 6% per annumreport.—For calendar years:
Tt„av
ninidrnd*
Survlus
Gross.
Net (aft.Tax.)
Jnt.AS.F,
JMrfdmds.
surplus.
1919—12,599,565
$931,004
$507,480
(6%)$300.000
$123,524
436,082
1918— 2.322,757
1,198,487
£62,403
245,590
300,000
332,658
1917— 1.795.746
878,248
exceeding
the
money mtges.
_
J6^) 300,UUO
ELECTRIC
142
ROAD.—Operates 47 miles of track (including Manila Suburban Rys.
Co.) in the city and suburbs.
70-Ib. T and 92-lb. girder rails.
Owns 54
single and 77 double-truck passenger cars and 14 service cars.
One 5.000
k.w. turbo-generator is now in service and another was expected to be com¬
pleted before the close of 1920.
OFFICERS.—Pres., Charles M. Swift: Vice-Pres'ts, J. H. Pardee, Joseph
K. Choate and R. B. Marchant, New York; Sec. & Treas., T. W. Moffat;
Asst. Sec., C. A. Dougherty; Asst. Treas., H. B. Brown.
Operated under
management of J. G. White Mgt. Corp., New York.—V. 107, p. 77; V.
109, p. 1079, 1179; V. 110, p. 2192; V. Ill, p. 1472.
(1) Manila Suburban
[Vol. 111.
RAILWAYS
ROAD.—Operates
miles
260
track.
of
The company's steam power
Elant Is to be enlargedmade with the Montreal Light, p. V.&102, p. 345,
from 10.000 h. p. to 60.000 h. Heat Power^Go.
1904 contract was
o
for
supply of
a
power.
E A Robert; V.-Ps., J. W.
McConnell and Hon.
Dubee; Gen. Mgr., J. E. Hutcheson.
107, p. 1579; V. 108, p. 784. 2123; V. 109. p. 982, 1362, 1610, 2440:
V. 110, p. 1089; V. Ill, p. 692, 896, 1365.
OFFICERS —Pres
,
Geo. G. Foster; Sec.-Treas., Patrick
—V.
Canadian Light & Power Co.
(2)
See descrip¬
848.
Has
and light In Montreal and
Distribution system in Montreal has been taken
ORGANIZATION.—Incorp. In Canada on June 2 1901.
Railways Co.
ORGANIZATION.—Incorporated in Connecticut.
Franchises run for
47 years from Jan. 30 1906.
Does both passenger and freight business.
Entire outstanding stock ($530,000) is owned by the Manila Elec. RR. &
Lt. Corp., which guarantees the bonds, prin. & int.
See V. 84, p. 220.
Dec. 1909 Increased authorized stock from $500,000 to $1,000,000.
Y. 90.
p. 372; V. 98. p. 1993.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock $1,000.000
—
See text
First
mortgage
$2,500,000f 1906
5 g M-fl
$530,000 Sept. 1 1946
gold ($1,000).:
c*l
New York Trust Co., trustee.
Bonds.—Are guar., p. * L, by the Manila Klec. RR. & Ltg. Corp.
Are
subject to call after Sept. 1 1928 and to purchase for sinking fund since
Sept. 1 1911 at not to exceed 105 and int., at which price bonds can be
drawn by lot.
See V. 80, p. 220.
$42,000 are held in sinking fund and
$83,000 are in treasury, not incl. In outstanding amount as above.
ROAD.—Operates 7 miles of track from Manila to Fort William McKIney and Pasig.—V. 84, p. 220; V. 95, p. 1542.
tion of company's developments in V. 91, p. 591. and V. 89, p.
the
perpetual right to distribute and sell power
several adjacent counties.
by the Montreal Public Service Corp.
over
Date.
Interest.
Outstanding.
Maturity.
$7,000,000 ($100)
$6,000,000
—
mortgage
$6,500,0001
5 J-J
6.500.000
($500 and $1.000)
(Royal Trust Co., Canada, Trustee,
STOCK AND BONDS—
Stock
First
company's
Int. payable in Montreal or London
Bonds.—1st mtge. bonds are subj. to call all or any at 105 at
Sink. fd. began July 1 1914.
option.
PROPERTY.—Owns a new and modern bydro-electric plant at St.
Timothee, 28 wllss from Montreal; present development about 30,000 h p.
Ultimate development. 75,000 b. p.—V. 89, p. 848.1283: V. 91. p. 59J
Montreal .Public
(3)
Service
Corporation.
This company (formerly the Saraguay Electric & Water Co.) has acquired
the Dominion Lt.. Ht. & Pow., the St. Paul Electric Lt. & Pow. Co. and
the distribution system of
the Can. Lt. & Pow. Co. in Montreal.
Controls
established business in various important sections of the city and pro¬
a market for a large amount of the power developed by the Can.
Light & Power Co.
an
MONTREAL, CANADA.
MONTREAL TRAMWAYS & POWER CO.—A holding company
vides
ORGANIZATION.—Incorp. in London, England, in 1908, and controls
the following:
Montreal Public Service Corp.,
Montreal Hydro-Elec. Co., Ltd.
Montreal 1 ramways Co.,
Canadian Light & Power Co.,
Montreal Tramways Co. and Can. Lt. & Power Co. stockholders
VU 94, p. 417, 207. Tram. & Power Co. stock for each share of their stock.
shares of Mont.
.
1919 issued $7,300,000 5-year 6H% secured bonds to refund
an issue of $5,320,000 2-year notes due April 1 1919, a limited number of
holders of which were offered the privilege of exchanging their holdings for
the new bonds.
V. 108, p. 784.
In March
STOCK AND BONDS—
Stock
Interest.
Date.
Outstanding.
Maturity*.
$17,560,930
$20,002,000
($100.?
1919
^784; V. 100, p. 812,1618; V. 104. p. 1264; V. 107, p. 2294; V. 108, p. 269.
(1) Montreal Tramways Co.
ORGANIZATION.—Chartered in 1911 and acquired by merger the
Montreal Street Ry., Montreal Park & Island Ry. and Montreal Terminal
Co. (V. 93. p. 871, 1324), the last two companies being subsidiaries to the
Montreal St. Ry.
V. 93, p. 1022, 1106.
Owns and controls entire street
railway system In Montreal and Island of Montreal, except about a mile of
interurban line entering the city.
New Franchise.—In Jan. 1918 representatives of the co. and the city
signed a new franchise agreement, running for 35 years, which provides
(a) tor the creation of a permanent Tramways Commission of three persons
with complete powers over the service, fares, finances, exts. and mainte¬
nance; (b) fixes the valuation of the existing system at $36,286,295 for the
physical property, plus an unnamed amount to be specified by the Com¬
mission as "working capital," (c) practically guarantees that the company
shall be allowed at all times to make a profit of 6% on the total investment
thus arrived at and on such new capital as may from time to time be put in;
further remuneration of M of 1% in each year in
does not exceed by more than 2J^% the estimated operation charges
by the Comm.
In effect, the company can calculate upon 6tft%
(d) allows the company
which lt
allowed
a
its total Investment as a guaranteed minimum earning power so long as
it is efficiently administered.
The company can also Took forward to a
on
share of all surplus profits
FALLS, CANADA.
NIAGARA ST. CATHAR. & TORONTO RY.
Is operated by the Canadian National Railways.
OROANIZATiON.—incorporated in Canada in 1899.
A consolidation
of the Niagara Central Ry., the Niagara Falls Welsey Park & Clifton Tram¬
way
Ry.
Co. and the Port Dalhousle St. Catharine's & Thorold Electric Street
Franchise perpetual.
Owns and operates Niagara St. Catharne's
& Toronto Navigation Co.; also transports freight.
Shareholders voted 1910 to make an Issue of 2d mtge. bonds at rat*
of
V. 90. p. 54.1295.
$10,000 per mile to Nat. Tr. Co.. Ltd.. Toronto, trustee.
6MgM-N
7,300,000 Mar 1 1929
$500 and $1,000) gold..c*|Montreal Trust Co., Montreal, trustee.
Bonds.—The 5-year 6H% bonds are secured by $7,000,000 debenture
stock of the Montreal Tramways Co. and $2,500,000 5-year 6% bonds of
the Montreal Tramways & Power Co., Ltd., which are In turn secured by
$2,100,000 com. stock of the Montreal Tramways Co.
Redeemable, all
or in part, at 101 and int., upon 30 days' notice on and after Nov. -1 1921.
Interest payable at Merchants Bank of Canada, Montreal; Banque D'Hochelaga, Montreal; Agency of the Merchants Bank of Canada, N. Y.—V. 108,
Sec bonds $7,300,000
NIAGARA
received
arising after the annual payment to the city of
$500,000 and
the upkeep of certain maintenance and guarantee funds,
funds should be at all burdensome. / The surplus after
20% to the company, 30% to the city treas¬
ury, and 50% to a fund for reduction of fares, which may take place when
the fund accumulates to $1,000,000, and must take place whenever it
contains $2,500,000. (e) Dividend distribution Is limited to 10%, the
present rate, (f) An appeal from the Comm. lies to the P. U. Comm.
of Quebec.
For further details see V. 106, p. 607.
Wage Increases.—V. 106, p. 2649; Y. 107; p. 501; Y. Ill, p. 896.
Fare Increases.—In Sept. 1918 was auth. by the Quebec P. U. Comm. to
charge a 6-cent fare in the daytime, or sell 5 tickets for 25 cents.
Between
6 and 8 a. m. and 5 and 7 p. m. 6 tickets are to be sold for 25 cents, while
school children's tickets will be sold at 7 for 25 cents.
Night fares are to be
15 cents cash.
Transfers are to be free.
V. 107, p. 1288.
Compare
V. 106, p. 2757.
In Sept. 1919 the Montreal Tramways Comm. announced
an Increase in rates to 7 cents cash, 4 tickets for 25 cents and workmen's
tickets at 5 for 25 cents.
V. 109, p. 982.
On Oct. 14 1919 the Quebec
P. U. Comm., on the appeal of the City of Montreal, fixed fares effective
Oct. 26 1919, at 7 cents cash with tickets at 5 for 30 cents and 44 for $2 50.
V. 109, p. 1610.
In Aug. 1920 ticket fares were raised to 4 for 25 cents.
Cash fares remain unchanged at 7 cents.
V. Ill, p. 896.
Municipal Control.—On Mar. 30 1920 the City Council of Niagara Falls,
Ont., decided to take over the local line of the co.
V. 110, p. 1749.
No
further
information.
proposed that this company be sold to the Ontario
for $3,544,374.
As part payment ther* Hydro1st Mtge. 5s and would
pay the remainder of the purchase price in Hydro
Power Comm. 4K%
50-year bonds guaranteed by the Province of Ontario.
V. Ill, p. 294.
In
Sept. 1920 it was stated that this plan was being held in abeyance for the
present.
V. Ill, p. 1370.
In July
1920 it
Hydro-Electric
was
Comm.
Power Comm. would assume the co.'s $1,098,000
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$1,000,000
$925,000
Railway First mortgage goldf 1899
5 g M-N
1,098,000 Nov 1 1929
($1,000)
($1,000 or £205{lnt. at Canadian Bank of Commerce, Tar¬
da 8d)
c*
onto, and Bank of Scotland, London.
[National Trust Co., Ltd., Toronto, Trustee.
Stock
Second mortgage
1910
None
Navigation Co First mort-f 1903
5 g M-N
200,000 Nov 1 1929
gage $250,000
($1,000 or)lnt.atOanadlanBk.ofCom.,Toronto&N.Y.
£205 9s 8d) gold
c* (National Trust Co., Ltd.. Toronto, Trustee.
Interest also at Bank of Scotland, London.
Bonds.—Of the Railway bonds $20,000 per mile Is authorized
See V. 82, p. 869.
The
& I., by endorsement.
p.
and Issued.
Navigation bonds are guaranteed by the Railway
Neither Issue Is subject to call.
ROAD.—Owns and operates 61.67 miles of
track.
Runs from Port Dal-
bousle on Lake Ontario, passing through St. Catharines, Merritton, Thorold
and Niagara Falls, Ont., to Falls View, Ont. Has an extension of 18.5 miles
from Thorold through Fonthill and Welland to Port Colborne; also an ex¬
tension of 12.2 miles from 8t. Catharines to Nlagara-on-the-Lake.
Main
line has been
replaced with 80-lb
39
rail
cars,
pass
1 electric snow plow and 5 miscellaneous cars
Permission to build several extensions has been
7 electric locomotives,
Also owns two steamers
granted by the Dominion
Parliament
neither of which
EARNINGS.—For cal.
Cal. Years—
these charges Is to be divided,
STOCK AND BONDS—
Stock
Date.
Interest.
Outstanding.
Maturity.
*$4,000,000
See text
5%
16,000,000
See text
1st & ref mtge $75,000,000 g)
1911
5 J-J
16,335,000 July 1 1941
($500&$1,000) Pay in Lon-)Harris Tr. & Sav. Bk., Chic., Trustee. Nat.
don p&i in £=$4 86 2-3.c*f
Tr. Co., Ltd., Montreal, Co-Trustee.
Sterling deb Montreal St Ryl 1893
4M F-A
681,333 Aug 1 1922
secured by trust deed
0/Interest at Bank of Montreal, London, Eng.
Mont St Ry deb $1,500,000 g\ 1902
4 Kg M-N 1,500,000 May 1 1922
($100, $500 and $1,000) _c*J Interest at Bank of Montreal, Montreal.
Mont St Ry new debentures]
1908
4K M-N
*2,238,667 May 1 1922
£460,000 (£100)
lint. at Bank of Montreal, Montreal, Can.,
J
and London, England.
*
Including as of June 30 1920, $119,760 unpaid and subject to call.
Bonds.—Or the 1st & ref. bonds $3,273,000 are reserved to retire underly¬
ing bonds (there being also $1,063,985 in cash deposited in addition for this
purpose). Remaining bonds are for extens. & add'ns at not exceeding 75%
of cost under certain restrictions. Red. as entire issue (but not any part) at
105 & int. on any int. date. Int. payable in N. Y., Chic., Montreal and Lon¬
don. V. 93, p. 1463. Listed on the N. Y. (V. 97, p. 1025), Montreal and Lon¬
don stock exchanges. Under a trust deed, Montreal St. Ry. debs, of 1902
and debs, of 1908 are of equal rank. As of June 30 1920, $1,146,847 of the
underlying bonds reported outstanding had been redeemed and canceled.
Dividends.—On deb. stock 5% per annum since organization.
In April
1913 an interim div. of 5% was declared on the paid-up common capital
stock.
A quar. div. of 2K% was paid Aug. 1913 (V. 96, p. 1840), and
2H % quar. to and incl. May 1918.
In Dec. 1919 a div. of 2H % for the
second quarter of 1918 was paid.
See V. 109, p. 2440.
In 1920, Mar.,
2H%\ June, 2M%; Sept., 2H%; Nov., 2K%. leaving 5% in arrears.
Statement of Operations Under New Contract Year ending June 30 1920.
Gross earnings
$10,782,470
Oper. exp. & tax, $5,849,912; oper. profit, $46,607; maint. &
renewals, $2,190,557; total
1
8,087,076
common
Debenture
,
stock.
$2,695,394
Balance
6% on capital value, $2,177,178; 6% on
working capital, $23,833; 7% on adds, to capital, $69,827;
exp. of financing, $181,431; total
Allowances due
co.
2,452,270
years:
Gross.
1917
mm
Balance
rental, $500,500;
Dr.................................
mm
mm mm mm
$243fl24
con¬
607,825
$364,700
Charges.
b.
OFFICERS.—Pres.,
B.
54, 1296; V
p
110, p
1749; V
111, p
OTTAWA,
OTTAWA TRACTION
Surplus.
$97,626
60,589
137,695
V.-P., A. J.
Toronto;
Hanna,
Toronto; Sec., R. P. Ormsby: Gen. Supt., E. W. Oliver,
Mitchell,
Toronto.—V. 90.
I
294, 1370
CANADA.
CO.. LTD.—A holding company.
ORGANIZATION.—Incorp. Oct. 23 1913, and has acquired $1,860,10
of the stock of the Ottawa Electric Ry,
Interest.
Date.
STOCK AND BONDS—
Stock $10,000,000 ($100)
Dividends.—First div.—1%—-paid
with 1% extra In January,
Outstanding.
Maturity.
Q-J
$5,581,200
See text
July 1 1914; same rate quar. since,
„
making 5% per annum.
OFFICERS.—Pres., T. Ahearn; V.-P.. Warren Y. Soper:
Sec. &
Treas., G. L. Snelling; Aud., A. A. Crawley.—Y. 107, p. 803; V. 109, p.
2263.
(1)
Ottawa Electric Ry.—A trolley road.
ORGANIZATION.—Incorporated In 1894.
Is a consolidation of the
City Passenger Ry. and the Ottawa Electric Street Ry.
In Nov. 1912 increased its auth. stock from $2,000,000 to $4,000,000.
Ottawa
Strike—Acquisition by City Possible.—A strike
Aug. 15 1918, the men accepting the award of a
lasting two days was ended
board of conciliation, which
increased their wages an average of 25%.
See also V. 109, p. 1080.
As a
result of its difficulties with its employees the company suggested that the
city take over the properties.
V. 107, p. 803, 1004.
In Feb. 1919 the
offered to sell all its properties to the city of Ottawa at a price of
about $6,500,000, the city being given an option until May 1 1919 at this
figure.
V. 108, p. 579.
In March 1919 official notice was given that the
city of Ottawa would apply to the Parliament of Canada for authority to
take over and operate the company's properties.
V. 108, p. 1391. Later,
however, the city decided to defer further negotiations until expiration of
the company's charter.
See, however, V. Ill, p. 1567.
company
Fares.—Effective Aug. 311918,
rate tickets and
also V.
established
a
the company abolished the sale of reduced
V. 107, p. 1193.
See
straight 5-cent fare.
108, p. 974.
Interest.
Outstanding.
Maturity.
Q-J
$1,876,900
See text
1897
4 g J-J
370,000 July 5 1922
c*f Interest at company s office.
Trustee is
( Toronto General Trusts Corporation.
subject to call; 10% of the issue in excess of $350,000
each of the 10 years preceding maturityj $130,000 have
STOCK AND BONDS—
Date.
Stock $4,000,000 ($100)
First mortgage
$500,000 gold!
($1,000)
Bonds.—Are not
must be retired in
been retired.
1905, 8% per annum; in 1905, 2% extra; in
12% per annum; in 1912, 16K%; since, 15%.
Dividends.—From 1893 to
1906 to
1911, inclusive,
EARNINGS.—For years ending
Calendar
Gross
Net
Dec. 31:
Interest,
Conting. DividendsJBalance,
Earnings.
Earnings. Taxes,&c. Account.
(15%).
Surplus.
1918x_:._-$1,323,830
$477,010
$117,182
$60,000
$281,580
$18,086
1917
1,240,627
535,289
125,623
110,000
281,580
18,248
Passengers carried in 1918, 29,723,068. against«29,347,692 in 1917.J
Year—
Payable when earned: City of Montreal
tingent reserve, $107,825; total——
Int.
Expenses.
.$926,390 $717,953 $208,437 $110,811
766,422
569,961
196,462
135,873
756.590
500,022
256,568
118,873
1919
1918
.
*
No later figures puDlished.
ROAD.—Operates 52 miles of track in city, and to Hull, Rockliffe,
Britannia-on-tne-Bay and Government Experimental Farm.
Has a park
Brltannla-on-the-Bay.
and 115-lb. T and girder.
of 60 acres
at
OFFICERS.—Same
as
Rails, 72, 80. 94
Standard gauge.
for Traction Co.—V. 108, p. 1391, 2123; V. 109,
1080; V. 110, p. 2193, 2488; V. Ill, p. 1567.
p.
143
ELECTRIC RAILWAYS
Oct., 1920.J
1 1914
Int. due Dec.
on
the Quebec-Jacques Cartler Eiec.
defaulted.
111
Broadway, New York City, as Secretary, and
A protective committee was
?uested p. 403. Interest bondssubsequently paid. Trust Co., New York.
'. 100, to deposit their
with the Bankers V. 100, p. 559. Sub¬
was
sequent coupons have been
paid to date.
Fare Increase.—On June 22 1918 was auth.
1963.
8TOCK AND BONDS—
Date.
Stock $500,000 ($100)
Collateral trust first mortgage J
1902
Interest.
Maturity
Outstanding.
$500,000
6 g M-N
208,000 May 1 1927
c*.tf[Int. at Boston S. D. k Tr. Co., Boston, Trus.
Bonds.—Callable as a whole at 105 and int. on any int. date.
A sinking
fund of 1% per annum of bonds issued became operative May 1 1903 and
is invested in the bonds at not more than 107H and int.
$42,000 bonds
had been canceled by this fund to Dec. 31 1919.
$750,000
gold
EARNINGS.—For 12 months ending Dec. 31 (combined companies);
Year—
Cross.
Net(aft.Tax)
$58,763
61,831
$210,264.
174,585
1919
1918..—„
by the City Council to sell
5 tickets for 25 cents and 7 workmen's tickets for 25 cents instead of 6
PONCE ELECTRIC CO.—Incorporated in New Jersey in 1902.
Owns
the securities of the Ponce Ry. & Lt. Co.,which operates the railway between
Ponce and the Playa (Port) and does the entire fighting and power business
of Ponce and the Playa.
Railway franchise expires in 1961, electric-light
franchise in
bondholders were re-
Default Charged.—See V. 106, p. 2560.
PONCE, PORTO RICO.
f
1st refdg.75s
formed with W. L. Hall&han,
was
Sink.Fd.
Interest.
$24,237
25,024
Surplus.
$34,525
36,807
ROAD.—Operates 5.53 miles of equivalent single track, .54 miles of
12 cars. Gauge, 1 metre. Power station has 950 k. w. capacity.
trackage.
OFFICERS.—Pres. Harry T. Edgar; V.-P., .Francis J. Hovey;
Treas.,
Henry B. Sawyer; Sec., Victor D. Vickery; Gen. Mgrs., Stone & Webster
Management Association.—V. 74, p. 268, 478.
1919
and
and 8
theretofore.
V. 106, p. 2650.
Effective Nov. 15
auth. to increase fares to 7 cents cash, with 4 tickets for 25 cents
tickets, respectively,
was
as
6 workmen's tickets for 25 cents.
Q-J 15
Stock $10,000,000 ($100)
Consolidated mortgage $10,000,000 g ($100 $500 and
$9.999.500Jan. 15 '12,1'
1909
5 g J-D
5,459,900 Dec. 1 19
Int. at Montreal Trust Co., Mont., trustee.
Bank of Scotland, London, Eng.
$1,000
1901
5 J-D
849.000 Dec
11941
Quebec-Jacques Cartler Pow
1st ref $1,000,000 ($1,000) Trust Co. of America, N. Y., trustee.
g interest in N Y
__c* [Interest at company's office, Quebec
Mortgages on lines to be taken over by Govt.
1911"
5 F-A
2,356,000 Feb. 1 1941
Que-Sag Div IstM $2,500,000
sink fd. P k i payable in Int. at Dominion of Can. Tr. Co., Montreal
francs or Canadian curr.c*
Trus., or at office of R. Forget, Paris.
1912
5 J-J
2,100.000 Jan
11942
Que Ry L H k P new mtge
60,000,000 francs(500 fr)__
1899
5%
2,500,000 June 1 1923
Quebec-Montmorency Ry M
gold $2,500,000 ($100 $500 Int. at Bank of Montreal, Montreal, and
Union Bank of Canada, Quebec.
$1,000
c*
Bonds.—Consol. mtge. 5s of 1909 are red. at 105 and int. on any Int. day
$3,411,000 of the conaol. bonds are reserved to retire underlying bonds and
$1,129,100 are in treasury.
$144,000 Quebec-Saguenay Div. bonds havo
been canceled.
Dividends.—Initial div.—1%—paid April 15 1911; July, 1%; Oct., 1%.
In 1912, Jan., 1%; none since.
PORTO RICO RAILWAYS CO., LIMITED.
ORGANIZATION.—Incorporated In Canada Oct. 1906 and has acquired
k Transit Co. and Porto Rico Power k Light Co. and
Caguas Tramway Co.
Controls all the electric railway, electric light and
the San Juan Light
power
business of San Juan, San Turce and Rio Piedras; also controls entire
lighting
Bayamon, Oatano, Carolina, Caguas,
Juncos and other towns
Juan and San Turce are
perpetual.
The Comerio Water Power and Caguas Tramway franchises
are for 99 years from 1906.
The street railway franchise runs until 1959.
An express service was inaugurated in 1908 in conjunction with Porto Rico
Express Co.
Contract.—Has a 5-year street-lighting contract with the city of San
systems in cities of Comerio,
Rio Grande, Fajardo. Humacao, Yabucoa, Gurabo,
In east end of island.
Its lighting franchises in San
Juan
and with about 30 other towns for various periods.
Date.
STOCK AND BONDS—
Common stock $3,000,000
Pf
First
mortgage
$3,000.000( 1906
Outstanding.
Maturitv
$3,000,000 Oct'20, 1%
Interest.
Q-J
Q-J
$1,000,000 ($100) 7% cum
Oth.Rev
$435,939 $23,603
430,092
16,537
396,411
4,800
.
1918
.$1,129,782
1,035,955
1917
902,393
1919
Total
Gross
surplus Dec. 31
income tax
reserve
Interest.
$193,883
196,200
198,417
Pref.Div.
$70,000
70,000
70.000
Surplus.
$195,660
180,429
132.795
1919 was $289,173. after deducting $10,000 for
and $100,000 depreciation reserve.
6,768,195 passengers carried in 1919, against 6,505,690 in 1918.
ROAD.—Operates from
San Juan
to
Rio
Piedras, 9
miles, electric.
which is being oper¬
Standard gauge.
An extension of 18 miles to Oaguas,
ated bv steam, meter gauge, was completed in 1908.
OFFICERS.—Pres., Dr. D. E. Thomson, K. C.; V.-P., W. D. Ross;
Sec., T. A. Spoor; Gen. Mgr., Manuel V. Dommech; Asst. Gen. Mgr.,
F. C. Clarke, San Juan, Porto Rico.—V. 99, p. 463, 895, 1367; V. 100, p.
902; V. 102, p. 1163; V. 104, p. 765; V. 106, p. 1901; V. 110, p.
1188, 2568.
QUEBEC, CANADA.
QUEBEC RAILWAY LIQHT HEAT & POWER CO., Ltd.
ORGANIZATION.—Incorporated
solidation of the following properties
Juebec Ry., Lt. & Power Co.
juebec Gas Co.
in Canada on Nov. 19 1909
(V. 89, p. 1598):
as a con¬
Quebec Jacques Cartler Electric Go.
Canadian Electric Light Co.
rrontenac Gas Co.
Quebec County Railway Co.
These companies do an electric-light and power, gas and street railway
business in Quebec and surrounding parishes.
Has contract with the
Stadacona Hydraulic Co. for supply of power.
V. 94, p. 1449.
Purchase by Government.—The Dominion Government has contracted to
purchase (ownership to date back to July 1 1916) the following lines: (a)
Quebec Montmorency k Charlevoix Ry., extending from St. Paul St.,
Quebec to St. Joachim, 43.2 miles [but see V. 110, p. 562; V. Ill, p. 1662j
(b) Quebec & Saguenay Ry. ext. from its junc. with the Quebec Mont. &
Charl. Ry. to St. Joachim to Nairn Falls, 62.8 m. (acquir. in Mar. 1919); (c)
Lotbiniere & Megantic Ry. (acquired Apr. 1 1920), extending from Lyster to
St. Jean des Chaillons about 30 m.
The purchase price of these properties
is to be "the value thereof as determined by the Exchequer Court of Can¬
ada;
said value to be the actual
cost of said railways, less sub*
sidies
and
less depreciation,
but not to exceed $4,349,000, exclu¬
sive of outstanding bonded indebtedness, which is to be assumed by
the Government, but not to exceed in all $2,500,000" fbeingthe $2,500,000
Quebeo-Montmorency Ry. 1st M. 5s of 1899, due 1923].
The lines are to
be operated by the company until actual possession is taken and the com¬
panies must render an accounting to the Govt, from June 30 1916 until
the properties are taken over.
See V. 102, p. 2255; V. 103, p. 579; V. 104.
,
Earnings.
Year—
....
.
56 and 70-lb. T rails
ROAD.—Owns 19.77 miles of track in Quebec.
gauge,
4 ft. 8M in.
OFFICERS.—Pres.,
Hon. Lorne C. Webster, Montreal; V.-P., Hon.
D. O. L'Esperance; Sec., Arthur LeMoine, Quebec; Treas., R. A. Wilson;
Gen. Mgr., W. J. Lynch; Comptroller, H. G. Bosse.—V. 107, p. 1005;
1187, 1288, 2290; V. 108, p. 879, 974, 1938; V. 109, p. 776. 1080, 1180.
V. 110, p. 562; V. Ill, p. 1279, 1366, 1662.
.
SHERBROOKE, QUEBEC.
gold
REPORT.—For calendar years:
Cross.
Net.
Year—
30 (1919-20 report in V. Ill, p. 1366):
Net
Misc.
Charges and Balance,
Earnings.
Credits.
Taxes.
Surplus.
x
1919-20—
x$647,174
def$44,70 3
$602,471
$2,372,034
1918-19
27,723
726,102 def 65,274
2,077,621
633,105
230,088
696,910
95,307
1917-18
1,797,853
562,128
x "Misc.
credits" was not stated separately in 1920, but has been de¬
ducted from "charges and taxes."
June 30
1,000,000 Oct '20, IK
2,548,000 Nov 1 1936
5 M-N
Unt.
at
Montreal
Trust
Co..
Trustee,
(Montreal and Halifax, or Bank of Nova Scotia.
Refunding general mortgage/ 1912
5 M-N
£265,000 May 1 1962
£1,500,000 (£100)
c*llnt. in London, Montreal and Toronto; Mon[
treal Trust Co., Trustee.
Bonds.—First mtge. bonds are subject to call at 105.
Sink. fd. of 1%
of bonds Issued plus one year's int. on canceled bonds began Nov. 1908.
$452,000 bonds canceled.
First Mortgage bonds are listed on Montreal
and Toronto Stock Exch. Of ref. gen. mtge. bonds £523,700 are reserved for
1st M. bonds and £118.500 are in treasury; remainder for future require¬
ments under restrictions.
Subject to call as a whole or for cum. sink¬
ing fund (1% of bonds out beginning in 1937) at 105 and int.
V. 94, p.
1566.
Are listed on London Stock Exchange.
Dividends.—First div. on pref., 1%%. paid Jan. 10 1910, and same
amount quarterly since to ana including Oct. 1920. On com., 1st div., 1%,
paid Oct. 1911.
In 1912 and 1913. 4%.
In 1914. Jan., 1%; April, 1%:
July, 1%; None to July 1920, when 1% was paid.
In Oct., 1%.
($500)
,
REPORT.—For years end. June
SHERBROOKE RAILWAY & POWER CO.
Railway" Supplement of Apr .24 '20.
For statement of this co. see "Electric
i".'
SYDNEY, NOVA SCOTIA.
CAPE
ELECTRIC CO., LTD.
BRETON
ORGANIZATION.—Incorporated in Nova Scotia and does the entire
electric railway and lighting business in Sydney; the entire electric lighting
business in North Sydney, the ferry business between Sydney and North
Sydney, and operates an interurban line between North Sydney and Sydney
Mines. Also owns cap. stock and $220,0001of the $376,000 outstanding 1st
M. bonds of the Sydney k Glace Bay Ry. Co., Ltd., an interurban line 19 m.
In length between Sydney and Glace Bay, which is operated under lease for
99 years from Jan. 1 1911.
Guar, payment of said co.'s bonds, principal,
interest and sinking fund.
Franchises expire 1931 and 1932.
On May 5
1914 authorized pref. stock was increased from $250,000 to $500,000.
Fare Increase.—Effective Aug. 15 1920, fares were raised from 6 cents t>o
10 cents cash, tickets to be sola at 4 for 30 cents. V. Ill, p. 1369.
STOCK AND BONDS—
Interest.
Date.
M-N
Common $1,125,000 ($100)
Pref 6% $500,000 ($100)
First
mortgage
.
$1,500,000/ 1902
Outstanding.
Maturity.
$1,125,000 Nov.*19,1X
234,000 Nov. 20,3%
M-N
11932
1,096.000 Jan
5 J-J
gold
c_ntf\Int. at State St. Tr. Co., Boston, trustee.
Sydney k Glace Bay 1st M.J 1902
5 J-J
156,000 July 1 1932
$500,000 guaranteed .c.ntfllnt. at Royal Trust Co., Montreal, trustee.
Capital stock auth. by
Stock.—Preferred stock is redeemable at 120.
charter, $2,000,000.
Of the unissued portion as
the stockholders determine,
v
much may be preferred as
Bonds.—Of the 1st mtge. bonds, $2,000 canceled for Impt. fund.
Impt.
Red. at 105 and int. on any int. date.
Of
mtge. bonds, $64,000 have been canceled by
sink, fund, $220,000 held by Cape Breton Elec. Co.
Red. as a wholejat
110 and int. on any Int. date.
Sinking fund of 1 % per annum..
Dividends.—6% yearly (M.-N. 1) on pref. stock.
On com., 1st div.
1H%, paid Nov. 1910; in 1911. 4%; in 1912. 4% & 1% extra; in 1913 and
1914, 6%.
In 1915 and incl. Nov. 1 1919, 3%.
None since.
fund of 1% of bonds issued.
the Sydney & Glace Bay 1st
EARNINGS.—For 12 months ending June 30:
Gross.
Net (after Taxes)
Year—
1919-20
1918-19
$93,475
130,063
-.$591,448
556,491
^
Surplus.
$28,258
65,876
Interest.
$65,217
64,188
ROAD.—Cape Breton Electric Co., 12.9 miles; Sydney k Glace Bay, 19
miles; total, 31.9 miles.
Gauge, 4 rt. 8H in.
24 passenger and 9 other
Power stations have 1,800 k.w. capacity.
cars.
OFFICERS.—Pres., A. S.Pratt;
V.-P., Frederick S. Pratt; Sec.', JCdw.
Webster Mgt. Assn.,
T. Clark: Treas., H. B. Sawyer; Gen. Mgrs., Stone &
Boston; Mgr., Claude O. Curtis.—V. 100, p. 1436; V.
p.
102. p. 1718; V. 105;
1103; V. 106, p. 1900; V. Ill, p. 1369.
TORONTO,
THE
TORONTO
RY.—A
trolley
CANADA.
road.
ORGANIZATION.—Incorporated in 1892 and acquired by purchase the
old Toronto City Street Railways and the exclusive privilege to work street
railways in the city of Toronto for a term of 30 years from Sept. 1 1891
(with the exception of two small reservations in the Act which are believed
to be of no importance), a privilege which has since been ratified by Act of
the Legislature of Ontario.
Owns, directly or indirectly, practically the
mtire capital stock of the Toronto & Mimlco Ry. (now the Toronto Power
Co., Ltd.); Toronto k Scarboro Electric Ry., Light & Power Co.; Metro-
,000,000
^560. Infor thethe Canadianthe foregoing lines. During to appropriate Solitan Ry. of this company's the City of Toronto purchased the Yonge
1916 purchase of House of Commons voted 1917 $332,255 t. section (in March 1919 property for $590,000 V. 108, p. 1166);
expended
the properties and on Sept. 6 1917
the House re*
on
was
appropriated the remainder, $3,667,745.
On
Mar. 4
1919 the Govt,
acquired the Quebec & Saguenay Ry. "free and clear of charge, incum¬
brances or claims," purchase price being $3,489,313.
V. 108, p. 974.
It was announced in May 1919 that the proceeds of this sale, after tne pay
ment of the contractor's claim, would be used to reimburse the bondholders
of the Saguenay Ry., thus relieving the eo. of paying int. thereon. V. 108,
p. 1938.
The Quebec Ry., Lt., Ht. k Pow. Co. acquired the Quebec k Saguenay
Ry. Co. in 1911 through purchase of its $2,500,000 stock and $3,000,000
6% bonds and in turn issued its own bonds of 1911 and 1912 shown in the
table below, to pay for same.
V. 92, p. 882, 628.
These bonds were In¬
tended to provide for Quebeo-Saguenay line, extending 56 H miles from
Cape Tourmente to Murray Bay.
In Sept. 1912 construction work on this
line was stopped because of non-payment by Saguenay Co. of claims of
contractors for construction work (V. 95. p. 1040; V. 96 .p. 203).
Payments
were subsequently made but work was not resumed.
The Dominion Govt,
completed construction of the road in 1918 and up to Oct. 11920 it was still
operated by the contractors.
On July 7 1917 the company was awarded $275,000 for the property
known
as
the
Quebec
Gas Co.'s land, which was
expropriated by the
authorities, according to a decision by the Exchequer Court.
Coupon Payments Delayed.—The Interest due June 1 1913 and Dec. 1
1913 was not paid when due and in Sept. 1914 it was announced that the
coupons due June 1 1914 were not paid on time, the company following the
policy of paying the coupons at intervals through the three months grace
following the due date.
V. 99. p. 748.
Subsequent coupons have been
Federal
paid within the time limit allowed. V. 109, p. 776
Schomberg & Aurora Ry.; Toronto & York Radial Ry.; Toronto Power
Co., Ltd.; Electrical Develop. Co, of Ontario, Ltd.; Toronto k Niagara
Power Co.; Toronto Electric Light Co., Ltd.: London Electric Co., Ltd.
(now part of Toronto k Niagara Power Co.); Niagara Falls Electrical Trans¬
mission Co. (N. Y.) and Niagara Falls Gas k Elec. Lt. Co. (N. Y.).
In
Oct. 1902 stock was increased to $7,000,000, and in April 1906 to $8,000,000.
On Aug. 14 1911 stockholders voted another increase to $12,000,000,
and also the payment of a stock dividend of $1,000,000.
Stockholders
were allowed to subscribe for $2,000,000 of the stock at par.
V. 93, p. 230,
470.
On May 29 1916 the shareholders voted to increase the stock to
$15,000,000 to provide funds for the financial requirements of the company
and for necessary extensions and betterments for the subsidiary companies.
No action was taken by the directors as to disposition of new stock.
V.
102, p. 2078.
Payments to City.—As to annual payments to city, see "Supplement "of
May 1898.
Paid to city in 1919, $1,398,470; in 1918, $1,301,266; in 1917,
$1,187,031; in 1916, $1,113,010; in 1915, h,064,072: in 1914, $1,122,914; in
1913, $1,089,708; in 1912, $942,049; in 1911, $822,233; in 1910, $727,480; in
1909, $640,281; in 1908, $578,995; in 1907, $542,091.
Purchase by City Authorized.—On April 23 1913 the Ontario Legislature
,
Sassed a bill authorizing of all companies and the company's property; also
rights and interests the city to purchase persons owning or operating
le
electric railways within the city and such
as it may deem expedient.
The city is also
plants of them outside the city
authorized to borrow themoney
required therefor.
For further details see V. 96, p. 1365.
Authority to
purchase the Toronto Electric Light Co. was given under a previous Act.
For negotiations in 1913-1914 for the purchase of the company s property
ELECTRIC
144
by the city, see V. 96, p. 1774; V. 97, p. 238, 1664, 1899.
On Jan. 1 1918
the citizens of Toronto voted In favor of the city's taking over the co's
properties upon expiration of the franchise agreement in 1921.
See also
V. 108, p. 2331; V. 109, p. 174, 2264; V. 111. p. 991.
f
jyotes.—The $1,000,000 0% notes due Dec. 1 1920 were issued In Dec.
1918 to retire a like amount due at that time.
V. 107, p. 2189.
(Vol. 111.
RAILWAYS
(milrels).—
Latest Earnings
Years End Dec. 31.
113,073,982 101,894,163
58,423,485
52,131,535
8 Mos. End. Aug. 31
—84,622,000 73,767,000
45,327,000 38,624.000
Gross
Net..
^
of Control denied the co. per¬
107, p. 1580.
interest. Outstanding Last Div.,&c
Q-J
$12.000 000
See text
o4H g
2.502.307 Aug 31 1921
Fares.—On Oct. 10 1918 the Toronto Board
mission to charge a straight 5-cent fare.
V.
Date.
STOCK AND BONDS—
$15,000,000 ($100)
First M. $4,550,000, $ A £.( 1892
$35,000 per mile
-C* Trus., B.R.Wood.Tor..& K B Angus. Mont
1918
6 g J-D
1,000,000 Dec 1 1920
Notes
$1,000,000
($1,000)
gold
ctff Confc. A Comm. Tr. A S. B., Chic., Trustee.
1904
6 g A-O
1,640.000
Oct 1 1919
Toronto A York Radial Ry
first
mtge
gold
($1,000) National Trust Co., Ltd., Toronto, trustee
guaranteed
c* Int. at Bank of Montreal. Toronto and N Y
28 and Aug 31
a Interest and principal on sterling bonds payable Feb
Stock
at Bank of
Scotland. Lothbury, London, E. 0.
Sinking Fund.—The company is obliged to
by drawings at par yearly from Aug. 31
ssue
redeem 5% of its total bond
1911 to 1920-
Bonds.—The first mtge. covers entire property, subject to payments due
the city.
$2,047,413 first mtge. bonds have been retired.
Bonds are
listed on London Stock Exchange.
Notes are the direct obligation of co.
and are endorsed by the Toronto Power
Co.
The Toronto Ry. pays
$43,500 monthly beginning Jan. 20 1919 to the trustee for the purchase of
market at not exceeding par and int.
This will be suf¬
ficient to retire these notes by maturity.
No bonds or other funded debt
these notes in open
may be issued prior to Dec. 1 1920 unless funds are provided for the re¬
demption of these notes.
Interest is payable in New York, Toronto and
Montreal.
The co. agrees to pay all Canadian and 0. S. taxes, so far as
permitted by law, including the normal U. S. income tax up to 4%.
The
Toronto A York Radial Ry. first mtge. 5s are guar., principal and Interest,
by the Toronto Ry.
Dividends.—In 1898, 4%; in 1899, 4%; in 1900, 4%; in 1901, 44%; In
1902 to 1905, incl., 5% per annum; in 1906, 5l4%\ in 1907, 6%: in 1908.
0%; in 1909, Q'4%; In 1910. 7%; in 1911, Jan., 1#%, April, 1*4%. July
1*4%: in Aug. declared a $1,000,000 stock dividend (v «3 p. 470): Oct
2% in 1912; to and Incl. 1917, 8% per annum. In 1918, 5%.
In 1919,
Jan., 1%; March div. passed. V. 108, p. 1061, 1166, 1276.
ROAD.—Operates 127.581 miles of track; 69, 73 and 90 lb. girder and
T rails.
Owns 894 passenger cars, of which 762 are motor cars
70-1*
REPORT.—Of Railway Co. for cal. years (1919 report in V.
Gross
Net
Total
Dividends
Year—
Earnings.
Earnings.
Deductions
Paid.
Calendar
110, p. 1079)
Balance
Sumlor
i._$7,234,895 $1,579,237 $1,565,962
6,52b,302
2,016,651
1,515,081
(4%)$480,0(X)
in 1919. 182,377,494; transfers, 70,446,128;
166,510.326; transfers, 63.176,397.
1919
1918
-
Revenue passengers
21,570
in 1918,
V.-P., Frederic NIcholls;
Mgr., Robt. J. Fleming; Sec. & Treas., J. C. Grace.—V. 108, p. 2331;
V. 1C9, p. 174, 677, 2264; V. 110, p. 765,1079, 2488; Y. Ill, p. 190, 991.
OFFICERS.—Pres., Sir William Mackenzie;
OFFICERS.—Chairman
Board, Sir William Mackenzie; Pres., 8ir
J. M. Smith, Toronto.
1077, 1366, 1461; V. Ill, p. 188.
of
Alexander Mackenzie; V.-P.. Robt. C. Brown; Sec..
—V. 107, p. 799; V. 109, p.
(1) Rio de Janeiro Tramway, Light & Power Co., Ltd.
ORGANIZATION.—Incorporated under the laws of Canada Inf una
Purchased the Rio de Janeiro Gas Co. and three street railway prop¬
erties (the Villa Isabel Tramway Co., the Sao Christovao Tramway Co. and
the Carris Urbanos Tramway Co.)
Owns or controls entire $5,000,000
capital stock of Rio de Janeiro A Sao Paulo Telephone Co. (incorp. In Can¬
ada in 1916 to carry out the plan, delayed by the war, of acquiring, consoli¬
dating and developing the telephone enterprises). The latter co. has an
auth. Issue of $7,500,000 6% 3(Fyear coll. trust bonds (pledged as collateral
to the 3-year notes of the Braz. Trac.. Lt. & P. Co.. Ltd.), and has acquired
all the shares of the Brazilianische Electricitats-Gesellschaft and the prop¬
erties and business of the Interurban Telephone Co. of Brazil, Companhia de Telephones Interestadoaes, Companhia Telephonica do Estado de Sao Paulo, and Companhia Rede Telephonica Bragantina.
The
Tramway Light & Power Co.
also owns two water-power plants and
an electric-light and power plant.
In 1909 purchased control of the Ferro
Carril do Jardim Botanico (V. 88, p. 883) and consolidated it with the
1904.
Tramway Light & Power Co. under an operating contract.
Has also ac¬
quired tne Jacarepagua tramway lines (11 miles.)
The gas and electriclight franchises expires 1945, gas franchise being exclusive until 1945 and
electric light until 1915, with a monopoly for public lighting until 1945.
Telephone franchise in Rio de Janeiro expires 1930 and is exclusive; the
other telephone franchises are perpetual or for long periods and are mainly
exclusive.
See V. 83, p. 214.
Rio de Janeiro Tramway concessions were
extended in 1907 until 1970 and give exclusive privileges until 1940 in
large area of city.
Franchises for distribution of electric energy
lighting and power service were also extended to 1990Concession to
very
for
develop power is perpetual.
Both stock and bonds are listed on the London,
Brussels and Toronto stock exchanges.
V. 93, p. 528; V. 86, p.
1044;
507.
In April 1909 2d M. bonds were listed on London Stock
V. 88, p. 883.
See description of property in V. 87, p. 97.
stockholders voted to increase autn. stock from $40,000,000
to $50,000,000, of which $5,000,000 was offered to stockholders—1 new
for 8 old (V. 93, p. 1669, 1463).
On Jan. 2 1914 created an auth. Issue of £2,000,000 5% Gen. M. bonds
to be used as collateral security for raising funds for capital requirements
when necessary.
£1.028.000 have been deposited as security for the Brasllian Trac., Light A Power Co. 3-year notes.
V.
88. p.
Exchange.
On Dec. 8 1911
Outstanding.
Maturity.
$45,000,000 6Nov.'17 IK %
See text
196:
~
1905
5 g J-J
25,000,000
Jan. 1 1935
$25,000,000
and $1,000) Int. payable in Toronto, N. Y. A London.
Date.
STOCK AND BONDS—
Q-F
► %
5T
First
mortgage
$500
($100,
gold
through
a
subsidiary
$2,000,000 directly and $1,000,000
company.
m
all the $4,000,000 stock of the Toronto Elec.
Light Co. and $2,993,900 of the $3,006,100 common stock. $2,990 600 of
the $2,993 900 pref. stock and $5,014,000 1st M. 5% bonds of the Electrical
Toronto Power Co.
owns
Development Co.
The franchise of the Toronto Elec. Lt.
Co., dated Nov. 13 1889, gives
option of purchasing the property on Nov. 13 1919 on a basis
falnne aerreement as to price, on one veer's notice.
Option having not been exercised in 1919, city has no further rights of pur¬
chase for 20 years.
The Electrical Development Co.'s franchise extends to
1953, with privilege of renewal.
In .lune iwib tne Toruuio Elec. Lt. Co. issued $1,000,000 3-year 1st M.
the city the
Tr.
National
Ltd.,
Co.,
Toronto,
trustee.
1908 5 A-O
£5.176,622 April
1958
Tr.
Co.,
Ltd.,
Toronto,
trustee.
Int. at Can. Bank of Com.. London, and
8econd mortgage bonds
(£5,266,000) (£100 and fr. 500)
Nat.
(1) Toronto Power Co.
Entire stock Is owned by Toronto Ry.,
Interest.
Stock $50,000,000 ($100)
000
General mortgage £2 .000,000
in Toronto, Canada, Paris and Brussels.
1911 5 J-J
£1.400,000 July 1 1951
Tramway
£1,400,000 Nat. Trust Co., Ltd.. Toronto, Can., trustee
Int. at offices of Can. Bank of Commerce
c
in London. New York and Toronto.
'
Botanico
Jardim
1st
mortgage
(£100)
b Less British income tax.
M. of 1% per ann. of bonds out began in
subject to call on 3 mos.' notice as a whole or
the year end¬
Bonds.—A sinking fund on 1st
1910
debs,
The 2d M
are
part at 105; also subject to skg. fd. drawings which began
ing Apr. 1 1918; £137,478 retired by sinking fund.
Jardim
M. bonds are red. at 1024 and int. on 3 mos.' notice.
to bef'x"d hv arbitration,
any
5% gold bonds to retire a like amount
V. 102 p. 2347.
began in 1912.
Bonds are listed on London Stock Exchange.
V 93,
p. 1786.
Rio de Janeiro Tram., Light & Power Co. Ltd., undertakes to
put aside semi-annually a sum sufficient to meet int. and sk. fd. on Jardim
Botanico bonds; V. 93, p. 528.
DiviUenOs. — First div
1%. paid Nov. 1909; in 1910, 44%.
In 1911
and to and iocJ. Nov. 1917, 5% per annum.
$25,000,000 guar d A 1 by
Interest.
Date.
STOCK AND BONDS—
Stock $3,000,000Tor Power Co cons deb stock
of 4H % debentures due July 1 1916
-
Outstanding.
See text
Maturity.
4H M-N 14.665.773
1941
Empire Trust Co., Ltd., London.
Trustee.
Callable at 105.
1911
British
Toronto Ry Co $ A t
Tor Pow Co gu bds $4,250,-
1914.
4.100 000 July
5 g J-J
11924
'
000($100. $500 & $1,000)c* Int. In N. Y., Nat. Tr. Co.. I «d.. Tor., trus.
1903
5
9,547.000 Mar 1 1933
Devel Co $10,000,000
1st mtge ($500) g
c* Int. at Can. Bk. of Com., Tor., N.Y. & Lon
Toronto Elec Lt 1st M $1,-J 1916
5 g J-J
1.000.000 July 1 1919
000,006 godd ($1.000)
c*\Interest payable in N Y and Toronto
Toronto
Power Co. bonds of 1914 are guaranteed .unconditionally,
Elec
_
principal
and
interest,
by Toronto
Ry. Co.
They are callable at 100
and interest on any interest date on 3 months' notice.
Electrical Develop¬
ment Co. bonds have sinking funds which began in 1911 of $1 per year for
each electrical h. p sold. V. 88, p. 1316.
Of the Tor. Pow. Co. cons, deb
stock
are reserved to retire like amount of Elec. Devel. and
bonds, and remainder is for extens. and impts. at 80% of
Sink, fund began in 1913, calculated to retire whole of stock at ma¬
$11,000,000
Tor. Elec. Lt.
cost.
Int. is payable in London and Toronto. See V. 93. p. 1328.
bonds are red. as a whole or in part, but not less than
$500,000, at 101 and int. on any Int. date after July 1 1917. V. 102, p. 2347.
turity at 105.
The Toronto Elec. Lt.
RESULTS.—Of Toronto Elec. Lt. Co. for calendar years:
Year—
1918.
1917.
1916.
1915.
Number of customers
26,616
27,510
26,531
25,844
Kilowatt hours sold
73,935,304 71,592,832
5.931,137 51,395,537
PROPERTY.—Leases the Electrical Devel. Co.'s hydro-electric power
plant at Niagara Falls, Ont., with a total generating capacity of 140.000 h.p.
of which 15.000 h.p. held in reserve, and two transmission lines (4 circuits)
into Toronto on private right of way.
The Tor. Elec. Lt. Go ownc a
Steam auxiliary power plant of 17,500 h.p. capacity.—V. 95, p. 364; V. 96,
p. 423; V. 99. p. 1216: V. 102, p. 2082; V. 103. p. 1987.
BRAZILIAN
TRACTION. LIGHT
&
POWER
CO., LTD.
ORGANIZATION.—Incorp. July 12 1912 in Canada with $120,000,000
($100) auth. stock and has acquired through exchange of Its stock for stock
of the newly acquired companies (on basis shown in V. 95, p. 175) the Rio
de Janeiro Tramway Light & Power Co., Sao Paulo Tramway Light A
Power Co. and Sao Paulo Elec. Co., and through the first-named company
controls entire capital stock of Rio de Janeiro A 8ao Paulo Telephone Co.
In Nov. 1919 the co. brought out $7,500,000 6% sec. 3-year notes to
refund a like amount of similar notes due at that time. V.109, p.1366,1461.
STOCK AND NOTES—
Date.
Ordinary, $110,000.000-.^
Pref 6% cum$10,000.000($100)
Secured
notes
$10,000,000} 1919
tock.—The
Sold ($1,000)pref.
Outstanding.
Interest.
Q-M
6 Q-J
6
g
$106,566,300
10,000.000
M-N 1
Maturity.
See text
Oct 20, 1
7.500.000 Nov 1
~
c.tf/Cent. Un. Tr. Co., N. Y., Trustee.
stock is conv. into common stock at any time on basis
of 1 1-5 shares pref. stock for 1 share of common.
V. 90, p. 1421.
Pref.
stock listed on London and Toronto stock exchanges.
Common stock
listed on Toronto, Montreal, Boston, Belfast and Brussels stock exchanges.
V. 97. p. 363
Notes.—Direct obligation of the co,
Secured by £1,028,000 ($5,002,967)
Rio de Janeiro Tram., Lt. & Pow. Co. Gen. M. 5% bonds due 1963;
£514,000 ($2,501,483) Sao Paolo fram., Lt. A Pow. Co. Gen. M. 5%
bonds due 1963. and $7,600 000 Rio de Janeiro A Sao Paulo Telephone Oc.
Botanico 1st
Sinking fund
,
EARNINGS.—Earnings
LIgh
are
now
Included
the Brazilian
In
Traction
A Power Co. statement.
ROAD AND PLANT.—Operates 245.62 miles of track in business and
districts, incl. scenic road, 2 45 m.,
owning a hotel on Corcovado Mountain.
Has 1,036 passenger, and 213
freight and 7 electric auto-buses and 3 locomotives.
Capacity of power
stations, 84,000 h. p.
Company was supplying on Dec. 31 1919 to City of
Rio de Janeiro and vicinity 114,310 h. p. in motors, 9.216 arc lamps, 976,982
incandescent lamps.
On Dec. 31 1919 had 57,216 telephones in service.
Gas sales in 1919, 41,271,6- 0 cubic metres.
On Dec. 31 1919 had 73,119
residential section of city and adjoining
light and power consumers.
Passengers carried in 1919, 256,165,076,
against 220,037,370 in 1918.
OFFICERS.—Chairman of Bd., Sir William Mackenzie; Pres., Sir Alex¬
ander Mackenzie; Sec., J. M. Smith; Gen. Mgr., C. A. Sylvester.
Main
office, 36 Toronto St., Toronto.—V. 94, p. 1247, 1764; V. 96, p. 1298.
(2)
The Sao Paulo Tramway, Light & Power
Co., Ltd.
ORGANIZATION.—Incorporated "in the Province of Ontario, Canada.
extensive system of electric roads and electric-lighting
and power business in Sao Paulo. Brazil.
Stock and bonds were listed on
London Stock Exchange in July 1905.
V. 81, p. 614.
In Nov. 1900
authorized stock was increased from $7,500,000 to $8,500,000 (V. 83, p.
1230), and stockholders were offered the $1,000,000 new stock at par.
See V. 83. p. 412.
In 1907 purchased Santa Ana Ry.. a narrow-gauge
mule line, which has been electrified.
Company has secured an exclusive
30-year concession for distribution of light and power in municipality
of 3ao Bernardo.
On Dec. 27 1907 shareholders
increased authorized
■tock from $8,500,000 to $10,000,000.
V. 86, p. 53.
On Jan. 2 1914 created an auth. issue of £1,000,000 5% Gen. M. bonds
to be used as collateral security tor raising funds for capital requirements
when necessary.
£514,000 have been deposited as security for the Brazilian
Trac., Light A Power Co. 3-year notes.
in 1899 and owns an
Date.
STOCK AND BONDS—
Outstanding.
Maturity.
$10,000,000
6Nov. *17, 24
M-S 2
debenture/
consol
Perpetual
Interest.
Q-F
Stock $10,000,000 ($100)
■tock Issued Feb 1911
(Interest payable in
General Mortgage £1,000,000.
5%
First
British
Perpetual
London and Toronto.
1963
$6,000,000/ 1900 5 g J-D
$6,000,000 June 1 1929
c*\National Trust Co., Ltd., Toronto, trustee.
mortgage
gold ($500)
6 Less
£821,917
See text
Income tax.
Stock.—Perpetual deb. stock is redeem, at 105 on 6 mos.' notice. Trustees
British Empire Tr. Co., Ltd;, London, and Nat. Tr. Co., Ltd., Toronto.
Stock is listed on London Stock Exchange.
V. 94. p. 1250.
are
Bonds.—Interest is
payable at the Canadian Bank of Commerce in Lon¬
don. England, and Nat. Trust Co., Ltd., Toronto, Ont.
No sinking fund
and bonds are not subject to call.
Dividends.—In 1902. 3^%; in 1903, 54%; in 1904, 7M%;in 1905.8%;
in 1907, 84%; in 1908, 94in 1909 to 1911 incl..10%; In
1912, Jan., 2]4%\ April, 24%; July, 2#%; Oct., paid 5-6% for month
1912, in accordance with plan of amalgamation; Nov., 24%.
In 1913 and since to and incl. Nov. 1917, 10% per annum.
in 1906, 8%;
of July,
^EARNINGS.—Included In the Brazilian Traction statement.
ROAD.—Operates 143 43 m. of track, all in city of Sao Paulo; 361 pas¬
senger and 92 freight cars.
Passengers carried during 1919, 76.087,246,
against 63,429,063 in 1918.
On Dec. 31 1919 supplied 459,596 incan¬
descent lamps and 46,963 public arc lamps and 53,362 h. p. in motors, and
and power consumers.
notice, at 102 and int. during the first year after issue, at 101 and int.
luring the second year, and at 1004 and int. during the third year.
Int.
at Agency Canadian Bank of Commerce, N. Y.
Int. also payable in
had 46,963 light
Alexander Mackenzie; Sec., J.
Board, Sir William Mackenzie; Pres., Sir
M. Smith, all of Toronto; Mgr., W. G. Mc-
Toronto.
Oonnel. Sao Paulo.—V. 94, p.
827, 1187, 1248, 1250. 1764;
Dividends.—6% Is being paid on the pref. stock.
First div. on com.—
1*4 %—paid Nov. 15 1912.
In 1913 and 1914, 6%.
In 1915 and 1910
4%.
In 1917. March, 1%.
None since.
dREPORT.—For periods ending Dec. 31 (1919 report in V. Ill,p. 188) "
Period Covered— Tot. Inc.
Charges.
Pref. Divs. Com. Divs. Surplus.
Yr.end.Dec.31'19$8,877,005 $1,003,038 *$600,000
$7,273,967
Yr.end. Dec.31'18 6,252,463
832,791
*600,000
4,819,672
Yr.end.Dec.31'17 o,203,698
937,180
600,000 a$l,064,136
3,602,382
Yr.end.Dec.31'16 6.019,473
344,831
*600,000
c4,251,488
823,154
*6%.
a 1%.
c4%.
d In Canadian currency.
OFFICERS.—Chairman of
V. 95,
p.
681.
Co., Ltd.
ORGANIZATION. &c.—Incorp. in 1910.
Stock Issued, $5,000,000.
Has acquired water powers and franchises for the utilization and sale of
electric power through the State of Sao Paulo.
(3)
Sao Paulo Electric
STOCK AND BONDS—
Stock $10,000.000
First mtge
£100,
Interest.
Outstanding.
Maturity.
$5,000,000
1912
5 J-J
£2,000.000 Jan 1 1962
(National Trust Co.; Ltd.. of Toronto, trust.
£2.000,000 (£500./
£20)
Date.
-
,
a sinking fund beginning In 1922, In annual drawings at
be red. at 103 at any time on 6 months' notice, or at par on
Bonds.—Red. by
par, or may
voluntary liquidation or amalgamation with another company.
The Bra¬
zilian Trac., L. A P. Oo. agrees to set aside s.-a. out of the gross earnings of
int. and sinking fund,
the Sao Paulo Elec. Oo. a sum sufficient to meet the
and in case the earnings should be insufficient, to meet the same from its own
Int. payable in London, N. Y., Toronto, at Canadian Bank
of Commerce or its agencies.
Listed on London Stock Exchange.
V. 95.
revenues.
p.
1043; V. 96. p. 65.
PROPERTY.—Hydro-electric plant of 30,000 k. w. with an ultimate
capacity of 50,000 k. w., was completed and placed* In operation during
1914.
Has a contract to supply the Sao Paulo Tram., Light A Power Co.
with 20.000 h. p. and supplfes electric light and power in Sorocaba, 53
miles from Sao Paulo, and to the neighboring towns of Sao Roque, Una,
Rodovalho and Mayrink.
Also operates 3X miles of track I n Sorocaba;
6
'.;;vy.v
cars.
' '•
sinking fund from 1915 to 1924, incl., and 2% from 1925 to 1934, incl.
See
V. 79, p. 2698.
$311,000 Win. El. St. Ry. 1st 5s are in sinking fund. The
notes
are
secured
by deposit of f400,000 (approximately $1,950,000)
Winnipeg Elec. Ry. 4X% perpetual consol. deb. stock.
Dividends.—Paid 2X% quarterly from April 1908 to April 1911.
In
July rate was increased to 3% quar., which amount was paid to and incl.
Jan. 1915; In April, July and Oct. 1915, 2X% each.
In 1916, Jan., 2%
None paid since.
REPORT.—For years ending Dec. 31;
Year—
Gross.
Net.
Balance.
$1,286,818
sur.$36,805
1,192,694
sur. 28,734
1917
1,150,795
sur. 92,579
Passengers carried in 1919, 58,729,317, against 56.348,716 in 1918.
1918
174.452 miles of track, including Suburban Rapid
Selkirk & Lake Winnipeg Ry.
Has 341 motor
misc. cars.
Completed in 1907 a 30,000 h. p.
water-power plant.
Installed a 12,000 h.p. steam turbine auxiliary plant
in 1911 which due to impts. in 1920 has been increased to 38,000 n. p.
ROAD.—Operates
Transit Co., and Winnipeg
WINNIPEG, MANITOBA.
ELECTRIC
RY.
ORGANIZATION.—Incorporated In Manitoba in 1904 and Is a consoli¬
dation of the Winnipeg Electric St. Ry. and the Winnipeg General Power
Co.
Controls Suburban Rapid Transit Co. and Winnipeg Selkirk & Lake
Winnipeg Ry., and guarantees bonds of those companies, prin. and int.
V. 86. p. 1346; V. 101. p. 1466.
Operates the entire street railway and gas
business in Winnipeg, the street railway in St. Boniface, and does the largest
part of the electric light and Dower business in those cities and vicinity.
Franchises either perpetual or for long terms and street railway franchise is
exclusive in Winnipeg until 1927 and in St. Boniface until 1943.
City of
Winnipeg may purchase the property In 1927 upon 6 mos.' notice at its
physical valuation (incl. cost of paving done by co.), to be determined by
arbitration; after 1927 city may exercise right to purchase at the end of each
succeeding 5-year period on 1 year's notice.
In Oct. 1913 Judge Robson, the P. U. Commissioner at Winnipeg, denied
the application of the municipal power plant of Winnipeg to sell current
in St. Boniface without the consent of'the latter city,
ft was held that
the Winnipeg Electric Ry. supplied St. Boniface with current satisfactor¬
ily.
V. 97. p. 1288.
Jitney Competition Abolished.—In April 1918 the city authorities voted
to abolish jitney service, thus removing this form of competition against
■ I
U. Comm. to Increase fares to
6 cents cash, or 9 tickets for 50 cents.
Workmen's tickets are to be sold at
5 for 25 cents and school children's tickets at 7 for 25 cents.
V. 109, p.
1462.
Effective Sept. 1 1920 was auth. by the P. U. Comm. to increase
fares to 7 cents cash, with 4 tickets for 25 cents.
Workmen's tickets were
the co.
Effective Oct. 4 1919 was auth. by the P.
Y. Ill, p. 1085.
abolished under this order.
and
V. 110, p. 1974.
Compare V. 110, p. 1527, 1749, 1850.
the shareholders voted to change the div. dates on the
proposed pref stock issue from semi-ann. payments to
V. Ill, p
59u.
Compare V. Ill, p. 75.
Valuation— See V. 109. p. 2264; V. 110, p. 1417.
STOCK AND BONDS-Stock $10,000,000 ($100)
L
Q-J
_
Maturity.
See text
£900,000
See text
tBritish Empire Trust Co., London, Trustee,
5 g J-J
$4,000,000 Jan. 2 1935
First refunding M $5,000,0001f 1905
gold sink fund ($1,000) __c* Int. at Bank of Montreal, Montreal A N. Y.
1917
6 K J-J 15
525,000 Jan. 15 1921
Notes $750,000 ($1,000) red
Int. at
at 102 X on any int. day Central Trust Co., N. Y., trustee.
Bank of Montreal, In N. Y. or Toronto &
on 30 days' notice—
c
in London, Eng., in sterling or par of exch.
1898
5 g J-J
1,000,000 Jan. 1 1927
Win El St Ry mtge $1,000,Interest at Bank of Montreal, Montreal.
000 ($500).
Perpetual debenture stock— J
4X A-0 2
-
Notes payable Dec. 31 1919
-
2,560,000
Vs 88,
p.
626.
Listed
on
45
OFFICERS.—Pres..
Sir
Augustus
Nanton,
but Is subject
London Stock Ex¬
change,
V. 91, p. 1448.
Bonds.—Of the $5,000,000 1st refund, bonds, $1,000,000 are reserved to
The Royal Trust Co., Montreal, is trustee.
The new
bonds are not subject to call, but IX % of bonds outstanding is payable to a
o
retire the first 5s.
Winnipeg;
V.-P.
A
Mgr., A. W. McLimont; Sec., F. Morton Morse, Winnipeg; Treas.,
V. 109, p. 1462. 2264; V. 110, p. 1417, 1527, 1749, 1850,
V. Ill, p. 75, 590, 693, 1085.
(1)
Gen
J. S.
1974,
Suburban Rapid Transit Co.
ORGANIZATION.—Organized in *1902 In Manitoba.
Charter gives
right to operate the telephone and telegraph lines and to dispose
of electric light, heat and power.
Franchise, 35 years from 1902 and is
exclusive.
Winnipeg Electric Ry. controls road through ownership of
company
stock.
Date.
Interest.
Outstanding.
Maturity.
I
See text
1908
5 F-A
$500,000 Jan. 311938
($1,000) g_c*
Guaranteed, principal and Royal Trust Co., Montreal, trustee.
interest, by Winnipeg Elec¬ Interest at Bank of Montreal, Montreal,
tric Ry.
Toronto, New York or London. England.
Bonds.—Additional bonds miy be issued at rate of not exceeding $20,000
STOCK AND BONDS—
Stock
$100,000
—....
First mortgage
,
per
mile additional road built.
EARNINGS.—For calendar year 1919, gross, $162,526; net (def.),
In 1918, gross, $146,230; net
(def.), $1,945; charges, $32,344; deficit, $34,288.
$4,976; charges, $33,911; deficit, $38,887.
ROAD.—Embraces 21.247 miles of track from Winnipeg to Headingly on
the north side of Assiniboine River and beyond the
side of river.
V. 86,
p.
City Park on the south
1345.
Winnipeg Selkirk & Lake Winnipeg Ry.
ORGANIZATION.—Incorp.
by
Act
of
Manitoba
Legislature with
trolled
S)wer to dothrough ownersnip of $490,000 a lighting and power business.
a steam or electric railway and of its $500,000 stock by the
on
Winnipeg Electric Ry.
Franchises run to 1939 and 1942.
Has contract for power with Winnipeg Elec. Ry. running to May 31 1926.
Also has contracts with Selkirk to supply power for municipal purposes and
Date.
BONDS—
Gen M&ref bonds
$1,400,000/ 1915
Interest.
5 J-J
business.
Outstanding.
Maturity.
$1,000,000 July 1 1925
($100, $500, $1,000)-C*dcr(National Trust Co., Ltd., Toronto, trustee.
Prior lien
5%
400,000
1933
$335,000 prior lien bonds have been exchanged for Gen. M. A Ref. bonds.
Bonds.—Of the bonds reported outstanding, $746,800 are pledged as col¬
lateral for loans to the Winnipeg Electric Ry.
Remaining $400,000 Gen.
M. A Ref. bonds are reserved to retire the underlying issue.
Guar., p. A I.,
(end.) by the Winnipeg Elec. Ry.
Sink, fund of 2% of bonds outstanding
plus int. on bonds in fund will retire 25% of issue by maturity. Int. payable
at Bank of Montreal, Winnipeg, Toronto, Montreal, New York and (In
sterling at par of exchange) London. Red., all or part, at 103 and Interest.
g
EARNINGS.—For
♦Payable to bankers, partly secured by underlying bonds.
Stock.—The debenture stock is repayable at no fixed date,
to call at 105 and Interest.
trailers,
with Stonewall to do a general light and power
Outstanding.
$9,000,000
Interest.
Date.
quarterly payments.
12
Mackenzie.
(2)
1* On May 3 1920 the stockholders authorized the creation of a new issue
of $3,000,000 7% cum. pref. stock, for the purpose of retiring a like amount
of floating debt.
On July 27 1920
Charges.
$1,323,623
1,221,428
1,243.374
—.$4,323,118
3.633,655
3.386.886
1919.
cars
WINNIPEG
145
RAILWAYS
ELECTRIC
Oct., 1920.]
calendar
year
charges, $46,124; surplus, $22,372;
charges, $42,962; surplus, $15,063.
1919, gross, $206,102; net, $68,496;
1918, gross, $178,787; net, $58,025:
ROAD.—Operates a line from Winnipeg on west side of Red
miles, witn a branch on private right of way from
Selktrx, 22X
chuch to Stonewall, 17X miles (placed in
and 27 misc. cars.
Y. 101, p. 924, 1466;
River to
Middleoperation Jan. 1 1915), 12 motor
V. 106, p. 2012.
COMPANIES.
NEW
The following furnishes a reference to the volume and page of the "Chronicle" where information can be found concern¬
ing a number of companies not represented in this issue of the "Electric Railway Section."
These are chiefly either newly
organized companies the affairs of which have not yet advanced sufficiently far to warrant the presentation of a regular
statement regarding them, or else companies from which it has not been found possible to secure full returns.
V. 102, p. 152.
V. 109, p. 774, 1271; V. Ill, p. 1565.
Algiers Ry. & Lighting Co.. New Orleans. La.
V. 103. p 238.
Alton & Jacksonville Ry.
V. 105, p. 1800, 2454; V. 109, p. 1271.
Alton Jacksonv. & Peoria Ry. V. 98, p. 1154. 1691; V. 99. p. 1831.
Alton fit Northern RR.
V. 98, p. 1691.
Altoona
(Pa.) Northern RR.
V. 109, p. 675; V. Ill, p. 895.
Ardmore (Okla.) Street Ry.
V. 102, p. 885, 1825; V. 103, p. 144.
Atlanta & Carolina (Electric) Ry.
V. 99, p. 118; V. 103, p. 319.
Atlanta & Macon Ry.
V 95. p. 296. 618
Bahia Tramway, Light & Power Co. V. 97, p. 1897; V. 104, p. 162.
Aberdeen
(So. Dak.) RR.
Abilene (Tex) Street Ry.
,
Barcelona Trac., Lt. & Pwr. Co., Ltd.
V. 110, p. 76, 2487.
V. 106. p. 188. >
V. 98. p 761.
Big Pour Electric Ry. (Cal.).
V. 98, p. 1765.
Billings (Mont.) Railway. Light & Power Co.
V. 104, p. 2235.
Black River (N. Y.) Traction Co.
V. 107, p. 2187.
Boise (Idaho) Ry.
V. 109, p. 72.
Boston & Eastern RR
V 98. p. 154.
Brantford (Ont.) Municipal Rys.
V. 98, p. 999; V. 106, p. 2449.
Bristol & Norfolk Street Ry.
V. 103, p. 60; V. 105, p. 605.
British
Columbia
Electric
Ry.
V. 110, p. 2291; V. Ill, p. 73.
Brunswick Terminal 5c Ry. Sec.
V. 100, p. 644; V. 106, p. 1796.
Bryan (Tex.) & Centra! Texas Interurban Ry.
V. Ill, p. 1277.
Bryan College Interurban Ry.
V. Ill, p. 989.
Caldwell (Idaho) Traction Co.
V. 105, p. 908; V. Ill, p. 791.
California Eastern & Northern RR.
V. 105, p. 290.
Camaguey (Cuba) Co., Ltd.
V. 102, p. 152; v. 103. p. 144.
Carolina Traction Co. (Rock Hill, S. C.).
V. 106, p. 394.
Orove (Ind.) Traction Co.
Berwick & Nescopeck Street Ry.
Beech
.
_
V. 95,j>. 235.
(N. Y.) Traction Co.
V. 92. p. 955; V. 105, p. 1522. 2093.
Centre & Clearfield St. Ry., Philipsburg, Pa.
V. 108, p. 77.
Charlotte (N. C.) Rapid Transit Co.
V. 110, p. 1414.
Cheboygan, Mich., Electric Light & Power Co.
V 95. p. 1883.
Chicago Fox Lake & Lake Geneva RR.
V 95 D- 1402.
Chillicothe & Camp Sherman Elec. Ry.
V, 107, p. 82.
City Electric Co., Albuquerque. N. M.
V. 101, D 2071.
City & Suburban St. Ry., Brunswick, Ga.
V. 109, p. 2171.
Clarksville (Tenn.) & Dunbar Cave Ry.
V. 101, p 1972.
Cleburne Traction Co.
V. 100. p. 229, 900. 1872; V. 102. p. 975.
Cleveland Alliance & Mahoning Valley Traction Co.
V. 110, p. 1748.
Cleveland Interurban RR.
V. 99. p. 406
.
Cleveland & Ohio Central Electric Ry.
V. 101, p. 369, 448, 614.
Cleveland (O.) Rapid Tran. Ry. V. 99 p. 1528, 1832 1909.
Cleveland & Sharon Rapid Transit Co. V. 103, p. 2340.
Cleveland 5c Youngstown RR.
V. 105, P> 1418; V. 106, p. 2450.
Columbia & Montour Electric Ry.
V. 101, p. 1370; v. 105, p. 606.
Columbus Kenton & Toledo Traction Co
V 95, p. 297.
Columbus Urbana & Western Ry. V 98. p. 386; V
U9, p. 1214.
Cassville & Western Ry.
Catskiil
_
Corpus Christi Railway & Light
Creston (la.) Winterset & Des
Co.
V. 109,
Moines RR.
V
p.
1272.
1607-
95, d
Cumberland Electric Ry.
V. 107, p. 695; V. 109, p. 887; V. 110, p. 359.
Dallas Northwestern Trac. Co.
V. 105, p. 1522; V. 108, p. 479.
Dallas Southwestern Traction Co.
V. 105, p. 1419, 1522, 1617.
Danville (Va.) Trac. & Power Co.
V. 95. p. 749.
Dedham (Mass.) & Franklin St. Ry.
V 98. p. 1608.
Delaware 5c Maryland Traction Securities Co.
V 104, p. 2451
Delta Light & Traction Co.
V. 98, p. 1844.
Peraerara Electric Co., Ltd.. Halifax.
V.
Detroit Pontiac 5c Owosso Ry.
V. 101, p.
101. p. 212. 923.
j
1370; V. 107, p. 695.
Dixon (III.) Rock Falls 6c Southwestern Ry.
V 97 p. 298
Dominion Traction & Ltg. Co., Ltd., Toronto. V. 100, d. 1751.
1917
V. 96, p. 359, 1422; V. 109, p. 676.
Y.)
V 68 p 52b
Electric Short Line Ry., Minneapolis.
V. 100, p. 1832; V. 108, p. 2433.
Ephrata & Lebanon St. Ry.
V. 97, p. 1583, 1732; V. 99. p. 008.
Erie Cambridge Union & Corry Ry.
V. 97 P 1583.
Erie A Central Pennsylvania Ry.
V. 96. p. 1156. 1228; V. 97. p. 1733.
Erie Southern Ry.
v
97. p
1583.
Exeter Hampton & Amesbury St. Ry. V. 108, p. 784; V. Ill, p. 792,1660Fayetteville (N. C.) Light 5t Power Co.
7. 97 P 1822
Fort Scott & Nevada Lt.. Ht., W. & P. Co.
V. 95. p. 820.
Fort Wayne & Northwestern Ry. ,V 96, p. 1228; V 98. p. 522. 911Fresno Interurban Ry.
V. 102, p. 1625; V. 103, p. 665; V. 108, p. 78.
Frontier Electric Ry., Buffalo, N. Y.
V. 106, p. 1344, 1900.
Gary & Hobart Traction Co.
V. 104, p. 1701.
Gary & Southern Traction Co.
V. 104, p. 1387.
Geary Street Park & Ocean RR.
V 98. p. 1920.
Qlendale (Cal.) & Montrose Ry.
V. 103, p. 578.
Goldsboro (N. C.) Traction Co.
V. 97. p. 237 521. 728
Hocklng-Sunday Creek Traction.
V.97, p 1426: V 99. P. 608.
Hornell (N. Y.) Traction Co.
V. 105, p. 1309, 2272; V. Ill, p. 294.
Huntington (L. I.) Trac. Co.. Inc.
V. Ill, p. 493, 1369.
Independence Neodesha & Topeka Ry.
V. 97. p 299.
Indianapolis Chicago & Meridian Ry.
V, 95 p 480
Intermountaln Ry., Light & Power Co. (of Colo.).
V. 105, p. 1617.
International Transit Co.
V. 93. p 589; V 98. p 1844Inter-State Public Serv. Co.
V. 106, p. 1901; V. 110, p. 561,1289.
lota (Kan.) Electric Ry.
V. 108. p. 1275; V. 109, p. 270.
Irwln-Herminie (Pa.) Trac. Co.
v
95 _p_ 1745
Jamestown Westfield & Northwestern RR.
V. 106, p. 2345.
Kankakee (111.) Electric Ry.
V. 81. p. 725; V.107, p. 1004.
Kankakee Urbana Traction Co.
V. 99, p. 467; V. 105, p. 1104.
Lacombe & Blindman Valley Elec. Ry.
V. 99, p. 1597; V. 104, p. 2235.
Lake Erie Bowling Green & Napoleon Elec. Ry.
V. 1()0, p. 390.
Lake Erie & Northern R%
V. 99, p. 1451, 1910; V. 105, p. 1898.
Lake Erie & Youngstown Ry.
V. 96, p.285; V. 97,, p^ 443.
Lancaster 0c Southern Street Ry.
V. 103. p- 320 666
Lewiston-Clarkston Transit Co.
V. 100 p. 1438
Lima-Honeoye Electric Light & RR.
V. 100, p. 2167; V. 101, p. 214$.
llma-Honeoye Falls Light & RR.
V. 99, p. 1832: V. 102, p. 522.
Lincoln (III.) Ry. & Light Co.
V. 99, p. 407. 1748.
Little Falls (N. Y.) & Johnstown RR.
V. 95, p.Ill, 1123.
London (Can.) 5c Port Stanley Ry.
V. 101.jp. 615.
Loramle 0c Minster (O.) Electric RR.
V- 97, p. 299Los Angeles & San Diego Beach Ry.
V. 105, p. 1999; V. 107, p. 1101.
Marcellus (N. Y.) & Otisco Lake Ry.
V. Ill, p. 692.
Martinez (Cal.) & Concord Interurban Ry.
V. 103. p. 493, 844.
Medfield & Medway Street Ry.
V. 97. p. 443.
'■
Menominee 8c Marinette Light & Trac. Co.
V. 99. p. 120.
Meriden Middletown & Ouilford (Conn.) Elfectrlc Ry.
V. 104, p. 559.
Mexican Light & Power, Ltd.
V. 94. p. 1023; V. 99. p. 891.
Mexico
(Mo.) Santa
Fe &^Perry-Traction.
V. 96. P.
Mexico Tramways Co.
V. 103. p. 938, 1592, 2078, V. 105, p. 389.
Michigan Elevated Ry.
V. 110, p. 2487.
v
1M
in4c
Milwaukee Western Electric Ry.
V. 102, p. 880, V. 104. p. 1040.
Eastern Texas Traction Co.
Electric Properties Corp. (N
1229. 1489
'
146
NEW COMPANIES—
Minneapolis Anoka fit Cayuna Range RR.
V. 101. p. 449.
Minnesota Centra! Ry.
V. 99, p. 197.
v
Monterey (Mex.) Ry.. Light fit Power.
V. 99, p. 604: V 102. p. 437
Montgomery Transit & Light Co.
V. 109. p. 1080; V. 110, p. 2388.
Moose Jaw (Sask.) Elec. Ry.
V. 100, p. 22a.
Morgantown fic Wheeling Ry.
V. 106, p. 1344, 2011.
Mountain Lake Electric RR.- V. 106, p. 1797.
Mount Vernon (O.) Electric St. Ry.
V. 104, p. 1489; V. 106, p. 86Muscatine (la.) fit Iowa City Ry.
V. 101, p. 1714Newark 8c Marion Ry. (N, YT.
V, 101. p. 370.
New Brunswick Power Co.
V. 104, p. 952.
New Orleans Sc Grand Isle Traction. Light 8c Power.
V 95. p. flli
New York 8c North Jersey Rapid Transit Co.
V. 95, p. 298.
New York Westchester Sc Connecticut Traction Co.
V. 98, p. 1761
North Alabama Traction Co.
V. 100, p. 309; V. 109, p. 982.
North Branch Transit Co.
V. 101. p. i371, 1718.
Northumberland County Traction Co.
V. 105, p. 2185; V. 106, P- 396.
Norton Taunton & Attleb. St. Ry. V. 109, p. 1366,2357; V. 110;p. 1290.
Norwood Canton & Sharon St. Ry.
V. 109, p. 371; V. 110, p. 1290.
Ogdensburg (N. Y.) Street Ry.
V. 103, p. 494.
Ohio Service Co.
V. 99. p. 1533; V. 103. D. 2341; V. 105, p. 607, 2273
Oklahoma Union Railway.
V. 104, p. 864.
Orleans-Kenner Traction Co.
V. 106, p. 1462.
•
Parkersburg (W. Va.) 8c Ohio Valley Elec. Ry. , V. 108, p. 2434.
Pelham Park Ry.
V. 93, p. 1669; V. 95. p. 48.
Penn Yan fic Lake Shore Ry.
V.. 99, p. 49; V. 105, p. 1420.
Phoenixville Valley Forge Sc Strafford Electric Ry.
V. 101, p. 1014Piedmont Railway fic Electric.
V. 105, p. 2185.
Plymouth (Mass.) Sc Sandwich St. Ry.
V. Ill, p. 389, 494.
Point Pleasant (N. J.) Trac. Co.
V. lljkP* 793.
Portland & Oregon City Ry. V. 101, p. 2072; V. 104, p. 257.
Portsmouth Electric Ry.
V. 109, p. 73.
Pottstown 8c Phoenixville Ry.
V. 105, p. 1105; V. 106. p. 500.
Public Service Co. of Oklahoma.
V. 96, p. 1773.
.'
Puebla Tramway Lt. fic Pwr. Co.
V. Ill, p. 295, 390, 1370.
Railway fic Light Securities Co. (Boston). V. 106, p. 500; V. 109, p. 1080.
Reno (Nev.) Traction Co.
V. 109, p. 2172; V. 110, p. 360; V. 111»P- 1567.
Richmond (Va.) Sc Rappahannock River Ry.
V, 107, p. 1193.
Richmond 8c Fairfield (Electric) JRy.
V.lll, P-589.
^
Rochester-Cornlng-Elmira Trac. Co.
V. 95^ p. 170;: V. 97. p. 1427.
Rockford (111.) City Traction.
V. 67, p. 10o; V. 107, p. 604, 1385.
Electric RR.
V. 95. p. 680.
St, Francois County Ry., FarmingtontMo. V. 91. P.J519; V. 95. p.
St. John (N. B.) Ry.
V. 102, p. 1061; V. 104, p. 560, 864, 953.
Sacramento Valley
237
(Con
St. Louis Sc Belleville Elec. Ry.
St.
Atlantic 8hore Line
Atlantic
8hore
V. 96. p. 1425.
V. 101. p. 1372; V. 103, p. 1888.
p. 1824: V. 102. p. 252.
V. 107, p. 1386: V. 108, p. 1512, 2630
Titusville (Pa.) Traction Co.
V. 99. p. 271. 1911; V. 106, p. 716.
Trans St. Mary's Traction Co., Mich.
V. 104. p. 1146.
Trenton (N. J.) Lakewood fit Seacoast Ry.
V. 106,p. 1345, 1462.
Trinidad Electric Co., Ltd., Port of Spain, B. W. I.
V. 106, p. 1462.
Twin City Light fit Tractiorf Co.
V 99. p 468; V. 100. p. 1598.
Twin Falls (Idaho) Ry.
V. 95. p. 681. 1404.
Tyler City (Tex.) Light Sc Ry.
V 97. p. 445.
Valdosta (Ga.) St. Ry.
V. 110, p. 2658.
Washington Electric Ry.
V. 96, p. 555; V. 106, p. 1902.
Washington fit Great Falls Ry. fit Power Co.
V. 96, p 489.
Washington Spa Springs fit Gretta RR.
V. 101, p. 1808.
Washington, Westminster fit Gettysburg RR.
v. 95, p. 177.
Waukegan Rockford fit Elgin Trac. Co.
V. 106. p. 2012.
Waverly Sayre Sc Athens Traction Co.
V. 109, p. 372; V. Ill, p. 1085.
Waycross (Ga.) Street Sc Suburban Ry.
V. 104, p. 2453; V. 105, p.1806.
Wichita-Walnut Valley (Kan.) Interurb. Ry,
V. 106, p. 823.
WHIapa Electric Co.
V. 97, d. 1435.
Wisconsin Interurban Ry.
V. 105, p. 182, 717.
Stockton Terminal Sc Eastern RR.
Sunbury fit Susquehanna Ry.
Tiffin Fostoria fie Eastern Ry.
Aug.
*
.
Alameda Oak Park &
Oakland Terminal
Page.
5
See
62
Alton Ry. Gas & Elec.
Sc Suburban Co
Baltimore Catonsville Sc Elllcott's Mills Pass.
4
4
4
4
RR.—See United Rys. &
Lt.—See East St. Louis
43
...
..112
...138
Ry
97
Asheville Electric Co.—See Asheville Pow. &
Electric
-119
119
& 8treet Ry.—
See Ironwood Sc Bessemer Ry. & Lt. Co
59
Ashtabula Rapid Transit
—
5
Atchison Ry., Light & Power
...... 22
Athens Railway Sc Electric Co
94
Athol & Orange St. Ry.—See Northern Mass.
Co
Asheville Power Sc Light Co
Ashland (Wis.) Light, Power
54
145
6
Atlanta
6
Atlanta Sc Macon Ry
—-—--------145
Atlanta Northern Ry.—See Ga. Ry. & El. Co.
6
Atlanta St. RR.—See Ga. By. & Elec. Co
6
Atlanta Water Sc Elec. Pow. Co.—See Ga. Ry.
Sc Power Co
-6
Atlantic Ave. RR.—See Bklyn. Rapid Tran.. 14
Atlantic City Sc Ocean City Co.—See Atlantic
Ga. Ry. & El._
Gas Light Co.—See Ga. Ry. & Elec..
Atlanta Consol. St. RR.—See
6
City Sc Shore Co
Atlantic City Sc Ocean
City SR.—See Atlantic
City Sc Ocean City Co—....——
—
Atlantic City Sc Shore Co
...—-----Atlantic City Sc Shore RR.—See Atlantic City
Sc
Shore
Co
...
Atlantic Sc Suburban Ry
—
—-
Elec. Co
....
Baltimore Halethorpe Sc Elkridge Ry
Baltimore
&
Northern
Electric
Ry.—See
United Rys.
Ry
22
61
66
21
6
Bluffton Geneva & Cellna Trac. Co
10
7
®
—
—145
10
Boise (Idaho) Ry
Boise Valley Traction Co
Bordentown Electric Co
77
13
145
...
Boston & Eastern RR
Boston
Mil.
7
8
7
& Elec. Co..
Bait. Sparrows Point & Chesapeake Ry_.
8
Baltimore Term. Co.—See Wash. Bait. Sc Ann.137
Baltimore Traction—See United Rys. Sc Elec.
7
&
10
Brock.—See
Massa¬
Eastern
12
chusetts Street Railway Co
Boston & Northern St. Ry.—See Eastern
sachusetts Street Railway Co
Boston &
Ry. Light & Pow. Co
.119
Asbury Park & Sea Girt RR.—See Atlantic
Coast Electric Ry
5
Ashaway & Westerly Ry. Co.—See Shore Line
Street Ry
Atlanta & Carolina
—
(Texas) Street Ry
Co...124
^•ahla Tramway, Light Sc Power Co.
145
Bakersfield
&
Kern
Elec.
Ry.—See
San
Joaquin Lt. Sc Pow. Corp
;
47
Baltimore Sc Annapolis Short Line—See Mary¬
land Electric Rys
8
Arkansas Valley
Light
Bloomington Sc Normal Ry. Sc Lt. Co..
...
Bloomington Pontlac Sc Joliet Elec. Ry
Blue Grass Trac. Co.—See Ky. Trac. Sc Term.
Blue Hill Street Ry...
—
Blue Ridge Elec. Co.—See Georgia Ry. Sc Pow.
Boston Elevated Ry
25
67
7
oaden Sc St. L. RR.—See United Rys.
Ry. & 111.—See E. St. Louis & Sub. Co. 43
Altoona & Logan Valley Electric Ry...... 102
Altoona Northern RR
145
American Cities Co
..............
86
American Railways Co
101
Amesbury & Hampton—See Massachusetts
Northeastern Street Ry
57
Anacostla & Potomac River RR.—See Wash.
Ry. & Electric
136
Anderson Water.
Light & Power Co.—See
Southern Public Utilities Co
25
Androscoggin Electric Co
117
Androscoggin & Kennebec Ry
i
117
Anniston Electric & Gas Co.—See "Railway
& Industrial" Section.
Annapolis
Public Utilities Co.—See Wash.
Baft. Sc Annapolis
137
Ardmore (Okla.) Street Ry
145
—...
Pagu
Street—See Pittsb. Trac. System. 112
Bloomfield
Bloomington Decatur & Champaign RR
22
Bloomington & Normal Ry. El. Sc Heating Co.
—See Bloom. & Norm. Ry. & Lt
22
Boston & Chelsea RR.....
7
117
Austin
Alton
Ardmore Street Ky
Arkansas Valley Interurban Ry
7
7
(Me.) Hallowed Sc Gardiner RR.—
Androscoggin & Kennebec Ry
;
117
Androscoggin & Kennebec Ry
43
145
145
145
...
133
Ry.
......
Aurora Elgin & Chicago.
Aurora Plainfield & Joliet Ry..
4
-
Co—...
Slatington—SeeLehigh Val. Tran,
Allentown Bridge Co.—See Lehigh Val. Tr.Co.
Alliance Electric Ry.—See Stark Elec. RR—.
Alton Granite Sc St. L. Trac. Co.—See East St.
Allentown Sc Reading Traction
Allentown &
Alton & Northern RR
RR
Augusta-Aiken
Augusta (Ga.) Ry. Sc Elec. Co.—See Augusta
Aiken Ry. Sc Elec
Augusta
Winthrop
&
Gardiner
Ry.—See
Algiers Ry. Sc Ltg. Co.. New Orleans
145
Allegheny Sc Bellevue—See Fed. St. & PI. V—111
Allegheny Belle. & Perrysrille Ry
Ill
Allegheny Co. Lt. Co.—See Duquesne Lt. Co.113
Allegheny St.—See Federal St. & Pleas. Val—111
Allegheny Traction
—112
Allegheny Valley St Ry.—See West Penn.Rys.113
Allentown Bridge Co.—See Leh. Val. Tran.Co.
4
Allentown El. L. & P.—See Leh. Val. Tran...
4
Allentown &
Kutztown.—See Allentown Sc
Alton Sc Jacksonville Ry
Ry.—See
Augusta
2
3
3
Albany Ry.—See United Traction (Albany)..
Albany Southern RR
Albia Light A Railway
Alfred Lt. Sc Power Co.—See Atl. Sb. Ry .—
Louis Sc Suburban Co
5
62
62
...
Ry.—See Atl. Shore Ry__
Ry
Augusta-Aiken Ry. & Elec. Co
97
Rys
Alton Jacksonville Sc Peoria..
Atlantic
& Electric.
Plbd. El.—See San Fran.
Reading
Aiken
&
V. 97.
INDEX.
Auburn & Syracuse Electric
Industrial" Section.
1231.
Springfield Sc Central Illinois Traction Co.
Northern Elec. RR.—See Empire
Railroad Corporation
...133
State
1690; V. 107, p. 1482.
V. 103, p. 939.
Santiago (Cuba) Elec. Lt. Sc Trac. Co.
V. 98, p. 1157; V. 106, P. 1037.
Sapuipa (Okla.) Sc Interurban Ry. v. 103, p. 1033; V. 104. p. 164
Sharon (Mass.) Canton Sc Norwood Street Ry.
V. 105, p. 2095.
Shelburn Falls Sc Colvain St. Ry.
V. 92, p. 189; V. 107, p. 1482.
Shenandoah Traction Co.
V. 107, p. 1102.
Sioux City (la.) Crystal Lake Sc Home Electric Ry.
V. 106. p. 1578.
Southeastern Ohio Ry. (Zanesville. O.).
V. 102. p. 252.
Southern Illinois Sc St. Louis Ry.
V. 98, p. 388.
Southern Oregon Traction Co., Medford, Ore.
V. 101, p. 214.
Southern Traction Co. (Bowling Green, Ky.).
V. 108, p. 1722.
Southern Traction Co. of Illinois.
V. 110, p. 466, 2488.
Southern Trac. Sc Pow. Co., Alexandria, La.
V. 101, p. 214.
So. Morgantown (W.Va.) Trac. Co.
V. 110, p. 168; V. Ill, p. 1662.
South Shore (L. I.) Trac. Co.
V. 105. p. 1803. 2185; V. 107. p. 182.
Southwestern Interurban Ry., Winfield, Kan.
V. 107, p. 247,8.
Sc
Auburn
p.
San Diego fic Southeastern Ry.
V. 105, p. 2095; V. 106, p. 397,
Terminal Ry.
V. 94, p. 1120;
V. 95. p. 1208. 1333.
Atlantic Coast Electric Ry
Atlantic Coast Elec.
Lt. Co.—See
Coast Electric Ry
-
—
83,
San Jose
Page.
---145
Adamstown Sc Mobnsville Electric Ry.—See
Reading Transit Jc Light Co
—-—120
Adrian Street Ry
-----—-94
Akron Wadsworth Sc Western RySee North.
Ohio Tract. & Light Co
2
Alabama City Gadsden & Attalla St. Ry
47
Alabama Trac., Lt. & P.—-See "Railway &
....
V
Louis East Side Belt Line Terminal Ry.
St. Louis, Lakewood fic Grant Park Electric Ry.
V. 106, p. 1901.
St.Paul Southern Electric Ry.
V. 105, p. 1420, 1523; V. 106, p. 1231.
St. Tammany 8c New Orleans Rys. 8c Ferry Co.
V 101. p 775.
GENERAL
Aberdeen (So. Dak.) RR
bllene (Texas) Street Ry
[VOL. 111.
RAILWAYS
ELECTRIC
Mas¬
12
13
11
13
13
Revere Electric
Boston Suburban Electric
Companies
Boston Sc Worcester Electric Companies
Boston Sc Worcester Street Ry
;
Boyerstown Sc Pottstown St. Ry.—See Read¬
ing Transit St. Light Co
120
Braintree & Weymouth St. Ry.—See Eastern
Massachusetts Street Ry. Co
12
Braintree St. Ry.—See Eastern Massachusetts
'
Street Ry. Co
12
Brantford Sc Hamilton Ry.—See Dom. P Sc
...—...140
Transm. Co
Brantford Municipal Ry
Brattleboro Gas Light Co.—See
145
Twin State
Gas Sc Electric Co
13
144
-—--
Sc Washington Transit—See Wash¬
ington Sa Maryland Ry
137
Bamberger Electric RR
..125
Bangor Power Co.—See Bangor Ry. Sc El
8
Bangor Ry. & Electric Co
...
8
Barcelona Traction, Light Sc Power Co
.145
Bar Harbor El. Lt. Co.—See Bangor Ry. Sc El.
8
Bar Harbor Sc Union River Power Co.—See
Bangor Ry. & El. Co
8
Barre Sc Montpelier Trac. Sc Pow.—See Montpeller & Barre Light & Power
..........
8
Bartlesvllle Gas & Electric
94
Bath St. Ry.—See Androscog. & Kenneb.Ry_.117
Baton Rouge Electric Co
9
Bay City Gas Co.—See Consumers Power Co. 51
Bay State Street Ry.—See Eastern Massa¬
chusetts Street Ry. Co
12
Beaumont Trac. Co.—See Eastern Tex. Elec.
9
Brazilian Traction, Light Sc Power
Co.—See Duquesne Light Coll3
112
Beech Grove (Ind.) Traction Co
145
Bellalre South Western Trac. Co.—See Wheel¬
ing Traction
115
Belt Line Ry. Corp
89
Ben Avon Sc Emsworth 8t. Ry
111
Brockton
Baltimore
Beaver Co. Light
beaver Valley Traction
Bennington Elec. Co.—See Twin State G. & E. 13
Bennington Water Power Co.—See Twin State
G. & E. Co
13
Benton Harbor-St. Joe Ry. & Lighting
9
Bergen Turnpike Co
-—
79
Berkshire Street Ry
84
Berwick Sc Nescopeck Street Ry
145
Beth. Sc Nazareth—See Leh. Val. Transit
4
Beverly & Dan vers—See Eastern Massachus¬
etts Street Railway Co
12
Biddeford Sc Saco Railroad
9
Big Creek Lt. & Pow.—See Coast Counties
Gas & Elec. Co.
128
Big Four Elec. Ry
145
Billings (Mont.) Ry., Light Sc Power Co
145
Biloxi El. Ry. & Power Co.—See Gulfport Sc
54
Miss. COast Tract. Co
Binghamton Lest. Sc Union—SeeBlng. Ry..
' 9
Bingham ton Railway Co
9
Blrdsboro St. Ry.—See Reading Tr. Sc Lt. Co. 120
Birmingham Ensley Sc Bessemer Ry.—See
Birmingham Tidewater Ry. Co
10
Birmingham Knoxvllle Sc Allentown Trac¬
tion—See Pittsb. Sc Birmingham Tr
111
Birmingham Railway Sc Electric—See Bir¬
mingham Ry. Lt. Sc Power
10
Birmingham Ry. Lt. Sc Power
10
Birmingham-Tidewater Ry. Co
10
.......
.....
o
Black River
1
Bleecker St. Sc Fulton Ferry RR
(N. Y.) Traction Co
145
88
Bridge Operating Co.—bee Bklyn. R. Tr. Co— 14
Bridgeport (Conn.) Trac.—See Conn. Ry. Sc
Light Co
83
Brldgeton Elec.—See Am. Rva. Co.(Phlla.)._ 101
Bridgeton & Mllv. Tr.—See Am. Rys. Co.... 101
Bridgewater Whitman Sc Rockland St. Ry.—
See Eastern Massachusetts Street Ry. Co— 12
Bristol Sc Norfolk Street Ry
145
Bristol & Plainville Tramway (Conn.)....
14
Bristol
14
(Tenn.) Traction Co....
British Columbia Electric Ry...
Broad Ripple Traction
Broad Ripple Natatorlum.—See
145
...
59
Union Trac¬
tion Co. of Indiana
5
...
B'way & 7th Ave. RR
Broadway Surf.
RR.—See
88
B'y
Sc
Seventh
88
Avenue RR.
Bridgewater & Taunton
St.
Ry.—
See Eastern Massachusetts Street Ry. Co—
12
St. Ry.—See
Ry. Co
12
Brockton Sc Plymouth Street Ry
116
Brockton Street Ry.—See Eastern Massachus¬
etts Street Ry. Co
12
Bronx Traction Co
89
Brooklyn Bath & West End RR.—SeeB.R. T. 14
Brooklyn & Bright. Beach—See Bklyn. R. T. 14
Brooklyn Cable Co.—See Nassau Electric
17
Brooklyn City & Newtown RR.—See Coney
Island Sc Brooklyn
17
Brooklyn City RR.—See Brooklyn Rap. Tran. 14
Brooklyn Crosstown RR.—See Brooklyn R. T. 14
Brooklyn Heights RR.—See Brooklyn R. T.
14
Brooklyn Sc North River RR.—See Third Ave¬
nue Railway
88
Brockton
Sc
East
Bridgewater
Eastern Massachusetts Street
....
Brooklyn
..........
Queens County & Suburban RR.—
See Brooklyn
Rapid Transit
14
Brooklyn Rapid Transit
14
Brooklyn Union Elevated—See N. Y. Consol. 16
Brownsville Avenue Street Ry.—See Pitts. Sc
Birm. Traction Co
111
Brunswick Terminal Sc Railway Sec
145
Brunswick Trac.—See Public Service Ry
78
Brunswick
Sc
Yarmouth Ry.—See Andro¬
scoggin & Kennebec Ry
.117
Bryan (Tex.) Sc Central Texas Inter. Ry
145
Bryan College Interurban
145
Bucks
County Interurban Ry.—See Penn-J
sylv&nla-New Jersey Ry—
Buffalo Bellevue Sc Lancaster Ry.—See
Inter¬
196
national Traction...
Buffalo Sc
Depew Ry
18
18
Buffalo Dunkirk Sc Western RR.—See Buffalo
Sc Lake Erie Traction Co
17
Oct., 1920.]
INDEX TO RAILWAYS
Page.
Buffalo
Gardenvllle
A
Ebenezer
Ry.—See
Erie County Traction Corp
"
& Aur. Ry.—See Erie County
18
Buffalo Ham.
Traction Corp
18
Buffalo A Lackawanna Traction Co
18
Buffalo & Lake Erie Traction Go
17
Buffalo Lockport & Rochester Ry.—See Roch¬
___.
ester
Lockport & Buffalo Ry
122
18
Buffalo & Lockport St. Ry.—See Inter. Trac_
Buffalo & Niagara Falls Electric Ry.—See In¬
ternational Traction
18
Buffalo Ry—See International Traction
18
Buffalo Southern Ry.—-See Erie County Trac¬
tion Corp
18
Buffalo Tonawanda &
Niagara Falls Electric
RR.—See International Traction
Buffalo Traction.—See International Traction
Buffalo & Williamsvllle Electric Ry__
18
___
18
18
Burlington Elec. Lt. &Pow_._,
77
Burlington County Ry.—See Burl. Co Tran_. 73
Burlington County Transit Co
75
Burlington Gas Light Co.—See South Jersey
Gas, Electric & Traction Co
78
Burlington (Iowa) Ry. & Light Co
19
Burlington (Vfc.) Traction
Butler Railways Co
Butte Electric Ry
.
__
.
19
19
_
__
19
Cadillac Gas Lt.A Light Co.—See Lt. & Rys_ 51
Co.—See United Consumers
adillac Water
Power Co
51
Cairo City Gas Co—See Cairo Ry. & Lt. Co..
22
Cairo Elec. & Trac.—See Cairo Ry. & Light._
Cairo Ry. & Lt, Co
22
Cairo & St. L. Ry
Calais (Me.) Street Railway
Caldwell (Idaho) Traction Co
22
22
21
145
...
California Eastern A Northern RR
145
California Pacific Ry.—See Pac. Elec. Ry
68
California Ry.—See San Fran .-Oak. Term. Ry 97
California Ry. A Power
127
California Street Cable
126
Calumet Elec. St. Ry.—Se^ Cat. & So. Chic
27
Calumet A South Chicago Ry
27
_
.....
Camaguey (Cuba) Co.. Ltd..
Camden Gloucester A Woodbury Ry
145
.....
82
Camden Horse RR.—See Camden & Suburban 79
Camden Inter-State Ry.—See Ohio Val.EI.Ryl03
Camden A Suburban Ry
79
Canadian Lt. A Pow
142
Canal A Claiborne RR.—See N. O. Ry. A Lt.. 85
Can&ndalgua EI. Lt.& RR.—See N.Y.St. Rys.122
Canarsle RR. Co.—See N. Y. Consol. RR
Canton-Akron Cons. Ry
16
2
Can ton-Akron Ry.—See Can.-Akr. Cons. Ry.
Electric Ry.—See CantonAkron Cons. Ry
Canton-New Philadelphia Ry.—See CantonAkron Cons. Ry
2
Canton-Massillon
2
2
Cape Breton Electric Co.u
............143
Cape May Dei Bay A Sewell's Point RR
21
Capital Traction..
—..........137
Carbondale Ry.—See Scran ton Ry
103
—...
Carbon
Transit
Co.—See
Mauch
Chunk
71
119
Carolina Traction Co. (Rock Hill, S. C.)
145
Cascade El. Lt. & Power Co.—See Twin State
Gas & Electric Co
Cascade Light A Power
Gas A Electric Co
13
Co.—See Twin State
13
Cass Ave. A Fair Gr. Ry.—See United Rys. Col24
Cassville A Western Ry
—.........—145
Catharine A Bain bridge Sts. Ry..—......—105
Oateklll (N. Y.) Traction Co
Pvge
Chicago
Chicago
Chicago
Chicago
Chicago
Chicago
Chicago
Chicago
Chicago
North Shore A Milwaukee RR
27
A Oak Park Elevated Ry...
30
Ottawa A Peoria Ry.........
22
Railways Co
28
South Bend A Northern Indiana Ry_.131
Surface Lines
26
Union Traction—See Chic. Rys. Co.. 28
& West Towns Ry
28
A West.—See Chic. City A Con. Rys. 26
Chillicothe & Camp Sherman Electric Ry
145
......
......
Chippewa Vail. Ry. Lt. A
Pow.—See Wiscon¬
sin-Minn. Lt. & Pow. Co
64
Choctaw Power & Light Co
69
Christiana
&
Coatesville
Street
Ry.—See
Lancaster Co. Ry. A Lt. Co
65
Christopher A Tenth Sts. RR
88
Cincinnati A Columbus Traction Co
30
Cincinnati & Hamilton Electric.—See Cincin¬
nati &
Dayton Traction Co..
36
Cincinnati
Covington A Erlanger.—See Cin¬
cinnati Newport & Covington..
Cincinnati A Dayton Traction Co
Cincinnati Georgetown A Portsmouth RR
37
36
.....
30
Cincinnati
& Hamilton Elec. Co.—See Cin¬
cinnati & Dayton Traction Co
Cincinnati & Hamilton Traction Co
Gin. A Ham. Tract. Co.—See Ohio Tract. Co.
Cincinnati Lawrenceburg A Aur. Elec. St. RR.
36
31
30
30
Cincinnati Milford & Blancheeter Traction
30
Cincinnati Newport A Covington Lt.&Tr.Oo.. 37
Cincinnati Street Ry
31
Cincinnati Traction Co
Gin.Jc Westw'd RR.—See Ind.dc Cin.Trac.Co_
Olnnamlnson Elec. Light Power A Heating Co.
31
59
of Rlverton N. J
77
Cities Service Co
Citizens' Electric Co.—See Somerset Union A
Middlesex Lighting Co
Citizens' Elec. Light, Heat A Power
93
78
77
......
Citizens'
Elec.
St.
Ry.—See
Northeastern Street
Massachusetts
Ry
...
57
Citizens Elec. Ry. Lt. & Pow.—See Richland
PuDlic Ser.
Co
^5
Citizens' Gas A Elec. Co.—See Union Ry.,
Gas A Elec. Co
50
Citizens' Gas & Fuel.—See United Gas & El.Co.92
.
Citizens'
Pass.
.
Ry.—See Harrisburg Rys
55
Citizens* Pass. Ry., Norristown—See Schuyl¬
kill Valley
Traction
120
Citizens' Pass. Ry. (Phila.)
,..106
Citizens' Ry. & Lt. Co.—See TrI-City Ry.&Lt.
52
Citizens' Ry., L. A P. Co.—See Newp. News
A Hamp. Ry., G. & E. Co
55
Citizens' Street Ry.
(Indianapolis, Ind.)—See
Indianapolis Street Ry
59
Citizens' Street RR.—See Memphis Street Ry. 72
Citizens'
Street
Ry.
(Muncie,
Ind.)—See
...
Union Traction of Indiana
Citizens'Traction
Citizens' Traction Co., Oil City
5
112
98
City Electric Co., Albuquerque, N. M
145
City Electric Ry. (Port Huron, Mich.)..See
Detroit A Port Huron Shore Line..
42
City
A
Leighton Transit Co
Carolina Power A Light Co
147
145
Electric Ry. (Rome, Ga.)—See Rome
Ry. & Light Co
123
City A Elm Grove RR. Co.—See Wheeling
Public Service Co
City
City
City
Oity
City
A
_
_
_
__
_
_..._._........120
Gas Co.—See Norfolk Ry. A Light
.122
Light & Trac. Co, (SedalJa, Mo.)..
94
Railway (Dayton, Ohio) Co
38
Ry. of Los Ang.—See Los Ang. Ry. Corp. 68
A Suburban Gas Co.—See West Va. Trac.
Electric Co
120
City A Suburban Ry—See United Railways &
Electric Co. of Baltimore
7
City & Suburban Ry.—8eePort.Ry.,L.&Pow_117
Cayuga Lake El. Ry.—See Ithaca Traction
60
City A Suburban Ry.—See Wash. Ry. A El..136
Cedar Rapids & Iowa City Ry. & Light Co.—
City & Suburban St. Ry. (Brunswick, Ga.)
145
See Iowa Ry. & Light Co
21
Clairton Street Ry
113
Cedar Rapids & Marion City Ry
52
Claremont (N. H.) Ry. & Lighting Co
120
Central Arkansas Ry. & Light Corp.—See
Clarksville (Tenn.) & Dunbar Cave Ry
Federal Light & Traction Co...
145
89
Cleburne Traction Co
145
Central California Traction Co
132
Cleveland Alliance & Mahoning Valley Trac._ 145
Central Crosstown RR.—See New York Rys. 86
Cleveland Berea Elyrla A Oberlin Ry.—See
Central Electric Co.—See Somerset Union &
Cleveland Southwestern A Columbus..
32
Middlesex Lighting Co
78
Cleveland & Chagrin Falls Ry
33
Central Georgia Power Co
71
Cleveland A Eastern Traction
32
Central 111. Lt. Co.—See Union Ry.,G.&E.Co. 50
Cleveland A Elyrla RR.—See Cleveland South¬
Central Illinois Public Service Co.
71
western A Columbus RR..
32
Central Kentucky'Trac. Co.—See Kentucky
Cleveland Electric Ry.—See Cleveland Ry
31
Traction & Terminal Co
66
Cleveland Elyrla A Western—See Cleveland
Central Market St. Ry.—See Col.Ry.,P.&Lt. 34
Southwestern & Columbus Ry
32
Central Mississippi Valley Electric Properties. 63
Cleveland A Erie Ry. Co.............
48
Central New York Southern RR. Corp.—See
Cleveland Interurban RR
145
Ithaca Traction Corporation
60
Cleveland A Ohio Central Electric Ry
145
Central Park North & East River RR.—See
32
f
Belt Line Ry. Corp—
89 Cleveland Palnesvllle A Ashtabula RR
Cleveland Palnesvllle A Eastern RR...
32
Central Passenger Ry.—See Central Traction. 112
Cleveland Railway Company
;
31
Central Pennsylvania Traction Co.—See Har145
risburg Railways
;
55 Cleveland Rapid Transit Ry
145
Central Ry.—See United Railways & Electric.
7 Cleveland & Sharon Rapid Transit Co
Central Railway—See Peoria Railway
---24 Cleveland & Southwestern Traction Co.—See
Cleveland Southwestern & Col. Ry
32
Central Traction
—112
32
Centre & Clearfield Street Ry.
145 Cleveland Southwestern A Columbus Ry
Cleveland A Youngstown RR—
__145
Chambersburg & Gettysburg Electric Ry
21
Clifton Suspension Bridge—See International
Chambersburg Greencastle & Waynesboro St.
Traction Co
18
Ry.—See Ilagerstown A Frederick Ry
55
Clinton Street Ry__
33
Charleston City Ry.—See Charleston Consoli¬
71
dated Railway, Gas & Electric
25 Coal Belt Electric Ry. Co..
Coal Castle Electric Ry.—See E. Penn. Rys. .118
Charleston Consolidated Ry., Gas & Electric—
128
See Charleston Consol. Ry. & Ltg. Co
24 Coast Counties Gas & Elec. Co
Charleston Consol. Ry. & Lighting Co
24 Coast Counties Light & Power Co.—See Coast
Counties Gas & Electric
128
Charleston-Isle of Palms Traction
25
126
Charleston Interurban RR
25 Coast Valleys Gas A Electric Co
Coeur d'Alene & Spokane Ry.—See Spokane
Charlotte Elec. Ry.—See Southern Pub. Util. 25
A Eastern Ry. A Power Co
131
Charlotte Electric Ry., Light & Power Co.—
2
See Southern Public Utilities Co
25 Cohoes Ry.—See United Traction Co__
Colorado Springs Electric Co.—See United Gas
Charlotte (N. C.) Rapid Transit Co
145
& Electric Co..
92
Charlottesville & Albemarle Ry
----25
Colorado Springs & Interurban Ry
33
Chattanooga Elec. Ry.—See Chatt. Ry. A Lt. 76
Colorado Springs Light A Power Co.—See
Chattanooga Gas Co.—See Un. Lt. A Rys. Co. 51
United Gas & Electric Co
92
Chattanooga Rys. Co.—See Chatt. Ry. A Lt. 76
Chattanooga Railway & Light
76 Colorado Springs Light, Heat & Power Co.—
See United Gas A Electric. ^
92
Chautauqua Traction Co_
--61
Columbia (S. C.) Elec. St. Ry., Light & Power
Cheboygan Electric Light & Power Co-.----.145
—See Columbia Ry., Gas & Electric
34
Chester Darby & Phila.—See Wil. & Ches.Tr_103
Columbia A Montour Electric Ry.
145
Chester A Media Elec. Ry.—See Wil. & Ches¬
ter Traction
103 Columbia & Montour Elec. Co.—See Lehigh
Power Securities Corp....
3
Chester & Philadelphia Ry..
105
Columbia Ry.—See Wash. Ry. & Elec. Co
136
Chester Street Ry.—See Wil. & Ches. Trac___103
Columbia (S. C.) Ry., Gas & Elec. Co
34
Chester Traction—See Wil. & Ches. Trac. Co.103
Columbia Ry., Gas & Elec. Securities Co.—
Cheyenne Light, Fuel A Power Co.—See WestSee Col. Ry., Gas A Elec. Co
34
ern Light & Power Co
96
Columbus Buckeye Lake A Newark Traction
Chic. Bloom. & Decatur Ry.—See Blooming—See Columbus Newark & Zanesville
35
ton Decatur & Champaign
—22
Columbus Delaware A Marion Elec. RR.—See
Chicago City & Connecting Railways—
26
Col. Delaware A Marion Elec. Co
36
Chicago City Railway
26
Columbus Delaware & Marion Ry.—See Co¬
Chicago Consol. Traction—See Chicago Rys.. 28
lumbus Delaware A Marion Electric Co
36
Chicago & Desplaines Val.—•See Am. Rys. Co.101
Columbus Ed. Co.—8eeCol. Ry., P. A Lt. Co. 34
Chicago Elevated Railways
28
Columbus (Ga.) Electric Co
34
Chicago Fox Lake A Lake Geneva.
145
Columbus Grove City & Southwestern Ry.—
Chicago & Interurban Traction
—
27
See Indiana Columbus A Eastern
35
Chicago A Joliet Electric Ry
102
Columbus Interurban Terminal Co
35
Chicago Junction RR
29
Columbus Kenton & Toledo Traction—.....145
Chicago Lake 8hore & South Bend Ry.-.-— 72
—.........
.......
......
....
.........
...
.
—......
.......
_____
_
Page
Columbus London A Springfield Ry.—See In¬
diana Columbus & Eastern
35
Columbus Magnetic Springs A Nor. Ry
39
Columbus Marion A Bucyrus Ry. Co
71
Columbus New Albany & Johnstown Trac. Co.
Columbus Newark & Zanesville Elec. Ry_.
Columbus A Ninth Ave. RR.—See N. Y. Rys.
36
35
86
Columbus Northern Ry., Power & Equipment.
—See Columbus Delaware & Marion El. Co. 36
Columbus Power Co.—See Colum, Elect. Co. 34
Columbus (Ga.) RR.—See Columbus Elec. Co. 34
Columbus Ry.—See Colum. Ry., P. & L. Co.
34
Columbus Railway, Power & Light Co
34
Columbus St Ry.—See Col. Ry., Pow. & Lt
34
Columbus Traction Co.—See Col. Ry. Pow.
& Lt. Co.__.
34
Columbus Urban a & Western Ry
145
Commonwealth Power, Ry. A Light
49
Commonwealth Avenue St. Ry.—See Eastern
Massachusetts Street Ry. Co
Commonwealth Power Co.—See
12
Consumers'
Power Co
51
Commonwealth Power Co. of Nebraska.—See
Lincoln Traction Co
66
Oompton Heights Union Depot A Merchants'
Terminal Ry.—See United Railways Co
124
Concord Maynard & Hudson Street
Ry
54
Concord Street Ry
36
Coney Island & Brooklyn RR
17
Coney Island A Gravesend—See Bklyn. R. T_ 14
Conestoga Realty Co.—Se Lancaster County
Ry. A Light Co
65Conestoga Traction—See Lan. Co. Ry. & Lt. 65
Connecticut Company
82
Connecticut Ry. & Lighting
83
Connecticut Valley Street Ry__
54
Connellsville Suburban Street Ry.—See West
Penn Railways Co
113
Oonshohocken Ry.—See Schuylkill Valley
120
Consol. Elec. Light Co. of Maine.—See Cum¬
berland County Power & Light Co
lift
Consolidated Gas Co. of Pittsburgh
113
Consolidated Lt., Ht. A Power Co.—See Amer.
Rys. Co
101
Consolidated Railway Co.—See Conn. Co
82
Consolidated Lighting Co.—See
Montpeller A
Barre Light A Power Co
8.
.
Cons. Secur. & Inv. Co.—See Den. Tram. Co.
Consolidated Traction of New Jersey
39
79
Consolidated Traction of Pittsburgh, Pa
112
Consumers Light, Heat & Power Co.—See
United Electric Co. of New Jersey
77
Consumers' El. Lt. & Pow. Co. (New
Orleans) 93
Consumers' Power Co
51
Consumers' Water & Light Co
22
_
Continental
Passenger Ry
106
Copley Egypt A Ironton St. Ry.—See Lehigh
Valley Transit
4
Corning A Painted Post Street Ry
Corpus Christ! Ry. A Light Co
36.145
Mont¬
Oorry-Deavitt-Frost Electric Co.—See
-
peller A Barre L. A P. Co
8County Traction
37
County Traction Co. (Chicago)—See Chicago
Cortland
A West Towns Ry
28
Crawford County Railways Co
44
Oreston Wintersot A Dos Moines RR
145
Crosstown St. Ry. (Buffalo)—See Inter. Trac.
18
Crosstown St.—See Columbus Ry.,P.&Lt. Co. 34
_
.
Cumberland County Power A Light Co..
116
Cumberland Electric Ry
145
Cumberland A Westernport Electric Ry. Co.. 95.
alias Electric Term.—See Dallas Ry. Co_.
D alias
Interurban Terminal
See Dallas Railway Co
Dallas
Dallas
Dallas
Dallas
37
145
37
37
145
38;
Northwestern Traction Co
Power & Light Co
.
....
Railway Co
_„
Southwestern Traction Co
Danbury (Conn.) A Bethel Street Ry
Danville
Danville
Danville
Danville
Danville
Danville
Danville
37
Association.—*
Champaign A Decatur Ry. A Lt. Co. 22
& Eastern Illinois Ry
23
Ry. & Lt. 23
__
& Northern.—See Danv. St.
A Southeastern Ry
23
23'
(111.) Street Ry. & Light
(Va.) Traction & Power Co
Urbana & Champaign Ry
145
23
*.
Darby Media & Chester Ry.—See Phila. R. T-104
Darby & Yeadon St. Ry
-.105
Dayton Covington & Piqua Traction
38
Dayton A Northern Traction Co.—See Indiana
Columbus A Eastern
35
Dayton & Soldiers' Home RR.—See City Ry_ 38
Dayton Springfield A Urbana Electric Ry.—
See Ind. Colum. & Eastern
Dayton
Dayton
Dayton
Dayton
Dayton
.
35..
Springfield & Xenia Southern
(O.) Street Ry.—See City Ry
Traction.—See Cin. & Dayton Trac..
& Troy Electric
& West. Trac
.....
38
38;
36
38;
38
Decatur Gas & Elec.—See Decatur Ry. A Lt.. 23;
Decatur Railway A Light Co
23;
Decatur Trac. & Elec.—See Decatur Ry. A Lt. 2&*.
Dedham (Mass.) & Franklin Street Ry
145
DeKalb County Gas Co.—See 111. No. Util. Co. 42'
...
De Kalb-Sycamore Elec.—See Union
Ry., Gas
& Electric
/
50*
De Kalb Sycamore & Interurban Trac.—See
Union Ry., Gas & Electric
50*
Delaware County A Philadelphia Electric
Ry.104
Delaware & Maryland Trac. Securities Co
145,
Delta Light & Traction Co
145
Demerara Electric Co., Ltd., Halifax
..145
Denison A Sherman Ry.—See Texas Elec.
Ry. 38<;
Denver City Tramway.—See Denv. Tram. Co. 39
Denver Consol. Tram.—See Denver Tram. Co. 39
Denver & Inter-Mountain
39 *
Denver & Northwestern Ry
39
Denver Realty Co.—See Denver Tram. Co
39
Denver Tramway System
39 <
Denver Tramway Co
39
Denver
Tramway
Pow.
Co.—See
Denver
Tram. Co
39
Denver Tramway Terminals Co.—See Denver
Tramway Co__
;
39
Des Moines & Central Iowa Electric Co...
23
Des Moines City Ry__
39
Des Moines Electric Co.—See Des Moines A
Central Iowa Electric Co
Des Moines St. RR.—See Des M. City Ry
Des Moines Sub. Ry.—See Des M. City Co..
Detroit Almont A Northern RR
Detroit Electric Ry.—See Detroit United Ry.
Detroit A Flint.—See Detroit United Ry___.
Detroit Fort Wayne A Belle Isle Ry.—See
*
23
;
39
39
42
41
41"
Detroit United Ry
Detroit Jackson & Chicago.
". 41
42 '
Detroit & Lake St. Clair Ry.—See Detroit &
Port Huron Shore Line Ry
42 •
Detroit Monroe & Toledo Short Line.Ry
42 '
Detroit & Northw.—See Detroit* United Ry.. 41
Detroit Pontlac & Owosco Rv
...145 <
Detroit A Pontiac Ry.—See Det. United Ry..
411
INDEX
TO
Page.
Page.
Detroit A Port Huron Shore Line
42
Detroit By.—See Detroit Electric By41
Detroit Rochester Borneo A Lake Orion.—See
Detroit A Flint By...
41
Detroit United By. (with map)
41
Detroit Ypsilanti Ann Arbor A Jackson By.—
Bee Detroit Jackson & Chicago By
42
Dlgbton Somerset & Swansea Street By.—See
Eastern Massachusetts Street By. Co.-,
12
Dixie Terminal Co.—See Cincinnati Newport
A Covington.,
....
--37
Dixon Bock Falls A Southwestern By.,....,145
Dominion Power A Transmission Co....... 140
Dominion Traction A Lighting Co., Ltd
..145
Dover Uas Light Co.—See Twin States Gas &
Electric Co..
13
Dover Somerswortb & Rochester
—...
57
Doylestown A Willow Grove By
105
Dry Dock East Broadway & Battery BR
89
Du Bote Electric A Traction Co
42
Dulutb
Street
By.—See
Duluth - Superior
Trac
43
-
Dubuque Electric Co
.....
........
42
Duluth-Superior Traction
43
Dunkirk & Fredonia BB.—See Buffalo A Lake
Erie Traction Co
.....
......
17
Duquesne Light Co...
--118
Duquesne Traction......
.....
...112
Durham Traction Co
95
....
|?ast
Cleveland By.—See Cleveland By..... 31
astern Massachusetts
Street Railway Co—
12
Eastern Pennsylvania Bys Co—....^.——-118
Eastern Power A Light Corporation—.......119
Eastern Texas Electric Co,
9
145
Co..-...----.-—130
Light Co,—See East¬
ern Wisconsin Electric Co..
———...130
East Jersey St. By.—See Public Service By— 78
East McKeesport Street By—
112
East Middlesex Street By
—.....—
13
East Newark Gas Light
78
East Beading Elec. By.—See Reading Trac.. 120
East St. Louis Light & Power Co.—S^e East
St. Louis & Suburban Co........———. 43
East St. Louis A Suburban Co_.
43
East Shore A Suburban By.—See San Fran¬
cisco-Oakland Terminal Bys
*
—
97
East Side Traction Co.—See N.Y.State Bys—122
E as ton Consolidated Electric Co
...—.
4
E as ton Palmer & Bethlehem Elec. By.—See
E as ton Consolidated Electric...—
4
Easton A South Bethlehem Trans. Co.—See
Easton Consol. Electric oo—.—...—>.
4
Bau Claire Gas Light Co.—See Wtec.-Minn.
Light A Power Co..
...............
64
Edison Elec. Co.—See Lan. Co. By. A Lt... 65
Edison Electric Illuminating—See Paterson &
Passaic Gas A Electric
78
Edison Electric of New Orleans.—See New
Orleans Railway A Light Co.—....
85
Eighth Avenue BR-———.——-.—— 86
Electric City By.—See Internat. Trac. Co
18
Electric Co. of N. J—.—
103
Electric Devel. Co.—See Toronto Power Co.. 144
Electric Properties Co, (N. Y.)
——145
Electric Short Line Ry———————
145
Co
Eastern Texas Traction
Eastern Wisconsin Electric
Eastern Wisconsin By. A
^
Electric Traction (Philadelphia, Pa.)-.——..106
Elgin Aurora & Southern Traction.—Bee Au¬
rora Elgin A Chicago.................... 25
Elizabeth Plainfield & Central Jersey.—See
United Street Ry————————
78
Elizabeth A Raritan River Street Ry.—See
United Street By.—
78
Elizabeth & Trenton BR.
82
Eiizabethtown & Florin Street Ry.—See Lan¬
caster County By. & Light Co——
65
Elmira Water. Light A Railroad.
44
El Paso Electric Co————.—........... 44
El Reno Interurban By.—See Oklahoma By.. 98
Elwood Electric.—See Union Trac. of Indiana.
5
Elyria Grafton A Southern.—See Cleveland
South Western A Columbus Ry.
32
Elyria & Oberlin.—See Cleve. S. W. A Col... 32
Empire Passenger By
.......—
.106
Empire State Railroad Corporation
—
133
Ephrata & Adamstown By.—See Lancaster
County Ry. & Light Co.....——
65
Ephrata A Lebanon Street By—
145
Equitable Coke Co.—See Philadelphia Co
109
Erie Cambridge Union A Corry By
—.145
Erie & Central Pennsylvania Ry
145
Erie County Traction Corp
18
Erie Electric Motor Co.—See Buffalo & Lake
Erie Traction Co
17
....
—...
——
....
Erie Rapid Transit Co.—See Buffalo A Lake
Erie Traction Co
17
Erie Traction Co.—See Northwestern Pennsyl¬
vania Ry
44
—...
Erie Southern By...
—.......
Escanaba (Mich.) Traction Co
145
45
Essex & Hudson Gas Co................... 78
Evanston Ry
28
Evansville & East. Elec. By.—See Evansville
A Ohio Bys. Co
45
Evansville Elec. By.—See Union By., G. A E. 50
Evansv. G. & E. Co.—See Un. By., G. & E.. 50
Evans.
Hend.
&
Owensboro.—See Evans.
A Ohio Rys—
45
Evansville Light Co.—See Union By., G. A E. 50
Evansville & Mt.. Ver. Elec. Ry.—See Evans¬
ville A Ohio Rys. Co..
45
Evansville A Ohio Railway Co..
45
—
...
——
.....
.........
Evansville
&
Princeton
Traction
Union By,, Gas & Electric
Co.—See
......
50
Evansv'lle Pub. Serv. Co.—See Union By.,
Gas & Electric
50
Evansville & Southern Indiana Traction Co.—
.......
See Union By.. Gas
& Electric
50
Evansville Suburban & New burgh Ry
45
Evansv.Term.Ry.—See Evans. & Ohio Ry.Oo.. 45
Everett Ry. A Electric.—See Puget Sound
...
Power & Lt. Co
129
Everett Ry. Lt. A Water Co.—see Puget Sound
Power A Lt. Co
129
Exeter Hampton A Amesbury St. By........145
Fair Haven C larksburg Trac. Co.—See Monon- 82
airmont A A Westville RR.—See Conn. Co.
gahela Valley Traction—..—
45
Fairmont
A
Mannington
Traction.—See
.....
Monongahela Valley Traction......
45
Haddington Pass. Ry.—
See Hestonville Mantua & Fairmount
106
Fairmount Park Transit Co.———.——..104
Farmlngton Street By.—See Conn. Co...... 82
Fayetteviile (N. O.) Light & Power Co—.... 146
Federal Light A Traction Co
89
Federal Street A Pleasant Vailey By...
..111
Felicity & Bethel BR.—See Cin. Georgetown
A Portsmouth........................
30
...
Fairmount Park A
..........
[VOL. 111.
RAILWAYS
Ferries & Cliff House By.—See
San
127
.
Southern
...134
Traction
Electric By
46
FItchburg & Leominster Street By...——46
Fishkill
Flint Gas Co.—See Michigan
Consumer Power Go
Lijght Co.—See
-
—-
51
Flushing & College Point Elec. By.—See N.Y.
A Queens Co......
67
Fonda Johnstown & Gloversville
RR.—See
"Railroad and Industrial" SectionFond du Lac St. By. A Light.—See Eastern
Wisconsin Electric Co
130
By .—See Cleveland Ry _—. 31
RR.—See
"Railway and Industrial'' Section.
Ft. George & Eleventh Ave
RB—————88
Fort Pitt Traction—See Consol. Trac. (Pitta.) 112
Fort Scott Gas & Electric Co—.—
46
Fort Scott & Nev. Lt., Ht., W. & P. Co.—
145
Fort Smith Light & Traction Co.. —..
46
Fort Wayne A Decatur Traction Co
39
Fort Wayne Marion & Buffton
Ty. Co.—
See Indiana Service Corp.— — ————— 46
Fort Wayne &
Northern Indiana Traction
—See Indiana Service Corp.—..,—
46
Fort Wayne A Northwestern Ry
145
Fort
Wayne
Traction
Co.—See
Indiana
Service Corp.—,—;
————— ———
46
Fort Wayne Van Wert A Lima Traction Co— 35
Fort Wayne &
Wabash Valley Trac. Co.
—See Indiana Service Corp
46
Forty-Second St. & Grand St. Ferry RR.,.. 88
Forty-Second St. Manhat. A St. Nlch. Ave. Ry. 89
Fostoria (O.) & Fremont Ry
47
Fox River Valley Electric Co.—See Wise.
Tract., Light, Heat & Power Co
—73
Framlngham Southboro & Marlboro Street
Ry.—See Boston & Worcester St. Ry
13
Framlngham Union Street Ry.—See Boston A
Worcester Street Ry
13
Forest City Street
Fort Dodge Des Moines & Southern
_
—
—
Frankford A Southwark Phila. City Pass. By. 106
Frankford Tacony & Holmesburg Ry
108
Frederick Gas & EI. Co.—See Hag. & Fred RR. 55
Frederick & Mlddletown Rli.—See Hagerstown & Frederick RR,,.
55
Frederick RR.—See Hagerst. & Fred. RR—. 55
Freeport Ry. A Lt. Co.—See 111. Nor, Util.
Co.—.—
—...
42
Light & Power Co.—See 111.
Nor. Utilities Co
42
Fresno City Ry.—See Fresno Traction Co
47
Fresno Interurban Ry
145
Fresno Traction Co
47
—
Freeport By.,
Fries
Mfg. & Pow/Go<—See
Co.-!
X.—
So.
Public Util.
25
-
-
Front A 5th St. JEty.—See Read. Tr. &
Frontier Electric Ry
light..120
.,145
FrostburgxEckhardt A Cumberland Elec. Ry
—See<Oumberland & Western port El. Ry, 95
Frostburg Ilium. A Mfg. Co.—See Hagerstown
& Frederick Ry
55
Fulton Elevated—See Brooklyn Bapid Tran,. 14
A
Power Co..
Galesburg Gas k
Ltg. & Pow. Co
—
23
63
Galesburg & Western RR..
Galesburg Railway, Lighting A Power Co
...
74
23
Galveston Elec. Co.—See Galv.-Hous. El. Co.
48
Galveston-Houston Electric Co
48
Galveston-Houston Elec. Ry.—See
Houston Elec. Co
Galveston48
—
Gardner
Westminster & FItchburg St. Ry.—
8ee Northern Massachusetts Street Ry.
54
Gary Connect. Rys.—See Gary St. Ry. Corp, 48
Gary A Hobart Traction
145
Gary A Southern Traction Co..
145
Gary & Interurb. Ry.—See Gary St. Ry. Corp. 48
Gary Street Ry.—See Gary Street Ry. Corp.. 48
Gary Street Railway Corporation
48
Gary A Valparaiso
48
Gas & Electric Co. of Bergen County
78
Gas Light Co. of New Brunswick—See New
Brunswick Light, Heat A Power
78
Geary St. Park A Ocean RR
145
General Gas A Electric Co.—See * Railway A
...
Iudustrial'
-
—
Piedmont k Northern Ry
—
Greenville (S. O.) Traction Co.—See Southern
Public Utilities Co
25
25
Greenwich k 8chuylersville Electric RR.—See
Hudson Valley Ry
Greenwich Tramway Co.—See Connect't Oo__
3
82
Groton k Stonington St. Ry.—See Shore Line
Electric Rv
*
97
Gulfport k Mississippi Coast Traction Co
Guthrie-Edmond Ry.—See Oklahoma Ry
54
98
0 agerstown & Boonsboro Ry.—See
**
town & Frederick RR—
Hagerstown k Frederick Ry
Hagerstown A Myersville Ry.—See
town k Frederick RR
Hagers55
55
—
Hagers¬
55
-
Hagerstown k Northern Ry.—See Hagerstown
k
55
Frederick RR
Hagerstown L. A H. Co. of Wash. Co.—See
Lehigh Power Securities Corporation
3
Hagerstown Ry.—See Hagers. & Fred. RR— 55
Halifax Electric Tramway.—See Nova Scotia
Tramways k Power Co
140
Hamburg Ry. Co.—See Buff. & L. Erie Trac— 17
Hamilton, Cat., Power, Light & Tr Co.—See
Dominion Power & Transmission Co
140
Hamilton Elec. Lt. & Pow. Co.—See Domin¬
ion Power & Transmition Co
140
Hamilton
Grimsby & Beansville Ry.—-See
Dom. Pow & Trans Co
140
Hamilton k Lindenwald Electric Trans.—See
36
Co.,140
27
Hampton k Langley Field By.—See Newport
News & Ham p. Ry., Gas & Elec. Co
55
Hampton Roads Trac. Co.—See Newp. News
k Hampton Ry., Gas & Electric Co—
55
Hanover & McSherrytown Street Ry
55
Harrisburg Electric Service Co.—See United
Gas & Electric Corporation.,
92
Harrisburg Light & Power Co
92
Harrisburg & Mechanicsburg Electric Ry.—
See Valley Railways Co
55
Cincinnati k Dayton Traction
Hamilton St. By.—See Dom. Power k T.
Hammond Whiting k East Chicago By
Harrisburg Railways
55
Hartford Manchester k Rockville Tramway.
—See Connecticut Oo
82
Hartford k Springfield 8treet Ry
—134
Hartford Street Ry.—See Connecticut Co
82
Harwood
Electric
Co.—See
Lehigh
Power
Securities Corporation—...
3
Hattiesb, Tr. Co.—See Meridian Lt. k Ry Co, 95
Electric Ry. (Cuba).—See Havana
Electric Ry., Light k Power
141
Havana Electric Ry., Light & Power Co
141
Haverhill & Amesbury Street Ry.—See New
Havana
Havervill
6
El. Co.—See Galesb. Ry.
Galesburg & Kewanee Electric Ry
—
Transit
14
Greensboro Electric Co.—lies North Carolina
Public Service Co
54
Greenville-Carolina Power Co.—See Southern
Public Utilities Co..
25
Greenville Spartanburg & Anderson Ry.—See
Hampshire Electric Railways..,.
r^alnesville Ry. A Pow. Co.—See Georgia Ry.
^
Page.
Ry.—See
54
GreenpointA Lorimer St.—See Bklyn. Rapid
Findlay Street Ry.—See Toledo Bowling Green
&
k Turner's Fabs Street
Connecticut Valley Street Ry..
Greenfield
United RBs. of
Francisco...
Section.
Geneva Seneca Falls A Auburn RR. Co., Inc.. 48
Georgetown A Lexington Traction Co.—See
Kentucky Trac A Term,
66
Georgetown Rowley A Ipswich—See Eastern
Massachusetts
Street
Ry—
12
Georgetown & Tenallytown Ry.—See Wash.
Ry. & Elec...
136
Georgia-Carolina Invest. Co.—See AugustaAiken Ry. & Elec. Corp.,
7
Georgia-Carolina Power Co.—See AugustaAiken Ry, A Elec. Corp
7
Georgia Elec. Light Co.—See Ga. By. A Elec.
6
Georgia Light. Ifower & Railways (with map), 69
Georgia Railway A Electric Co
6
Georgia Ry. & Power Co
6
Germantown Passenger Ry
————,106
Glendale & Montrose Ry
—,145
Glens Falls Sandy Hill A Ft. Edward Street
RR.—See Hudson Valley Ry
3
Globe Street Ry.—See Eastern Massachusetts
Street Ry
12
Gloucester Essex A Beverly—See Eastern Mas¬
sachusetts Street Ry.
12
Gloucester & Rockport.—See Eastern Massa¬
chusetts Street Ry.
12
Gloucester Street By.—See Eastern Massa¬
chusetts Street Ry.,
12
Goff's Falls Lltch. A Hud.—See Man. Trac.
Light & Power
71
Goldsboro (N. O.) Traction Co
145
Goshen South Bend A Chicago RR.—See Gary
Street Ry. Corp.,
48
Gough St. Ry.—See Un. RR. of SanFrancisco.127
Grafton & Upton RR.—See Milford A Uxbridge St. By
72
Grand Rapids Ed. Co.—See Consum.PowTool 51
Grand Rapids Grand Haven A Muskegon Ry. 52
Grand Rapids Holland A Chicago
By.—See
Michigan Railway
49
Grand Rapids Holland k Lake Michigan Ry.
—See Gr. Rapids Holland & Chicago
Ry
50
Grand Raplds-Muskegon Power Co.—See Con¬
....
...
&
Andover.—See
57
Eastern
Massa¬
chusetts Street Ry. Co..,
Haverhill Georgetown & Danv.—See Eastern
Massachusetts Street Ry. Co
Hazleton
Steam
Heating Co.—See
Power Securities Corporation
Helena Light & Railway Co
Henderson Trac. Co
12
12
Lehigh
3
57
45
Herkimer Mohawk llion k Frankf. Elec. Ry.
—See New York State Railways
—,122
Hestonville Mantua k Fairmount Pass. Ry
106
Hocklng-Sunday Creek Traction
145
Holyoke Street Ry
57
Honolulu Rapid Transit & Land Co
.141
Hoosac Valley Street Railway.—See Berkshire
Street Ry—
84
Hoosick Falls RR.—See Berkshire Street Ry— 84
Hoosick Falls
Illuminating Co.—See
Twin
States Gas k Electric Co,..
13
Hoosick Fails Electric Co,—See Twin States
—
Gas & Electric Co
Hornell (N
Y.) Traction Co
13
..145
Street Ry.—See Central Arkansas
Ry. k light
Houghton County Street Ry. (Mich.).—See
Houghton County Traction Co
Houghton County Traction Oo
Houston Elec. Co.—See Gaiv.-Hous. Elec. Co.
Hot Springs
91
58
58
48
Houston Gas A Fuel Co
93
Houston Lighting k Power Co,
American Cities Co
(1905).—See
86
Hudson County Gas Co
Hudson River k Eastern Traction Co
78
99
...
Hudson River Traction Oo.—8ee N. J. k Hud¬
son River Ry. k Ferry Co—
82
Hudson Valley Ry
3
Humboldt Transit Co. (Eureka, Cal.).—.,
45
Huntington k
Charleston RB.—See Ohio
Valley Electric Ry Oo
103
Huntington (L. I.
Traction Co
145
————
—-
——.
—
....
...
....
...
sumers' Power Co
Grand Rapids Railway
........
.
'
"
Grays Harbor Ry. & Light Co.—See Federal
51
50
Light & Traction Co—
—89
Green Bay Gas A El. Co.—See Wisc.Pub.S.Oo. 52
Green Bay Trac. Oo.—See Wise. Pub. Ser. Co. 52
Greene & Ooates Sta., Philadelphia. Pass.
Ry.106
Greenfield Deerfleld A Northampton St. Ry.
—See Connecticut Valley Street By—..— 54
fdaho-Washington Light k
1
Power Co.—See
The Wash. Water Power Co. System...—131
Illinois Central Traction Co
23
Illinois Northern Utilities Oo
42
Illinois Traction Co. (with map).....
21
.....
—...
llUnoteValley Gas k Electric.—See "Railway k
Industrial" Section.
Illinois Valley Ry. Oo.—See Chicago Ottawa
k Peoria
Independence Neodesha k Topeka Ry
22
145
Indiana Columbus k Eastern Traction Co
35
Indiana Northern Traction Co.—See Union
Traction Co. of Indiana
Indiana Rys. & Light (Kokomo)__
Indiana Ry.—See Chicago
South
Northern Indiana Ry„
Indiana
Service
5
64
Bend
Corp.
k
131
46
Indiana Union Traction Co.—See Union TraC.
Co. of Indiana
Indianapolis Chicago k Meridian Ry
Indianapolis k Cincinnati Traction Co..
5
.145
59
Indianapolis Coal Trac. Co.—See Terre Haute
Ind. & Eastern
Indianapolis Columbus&Southern Traction Go.
Indianap. Crawfordsv A Danv. Elec Ry
Indianapolis A Eastern Ry. Co.—See Terre
Haute Ind. A East Traction Co
Indianapolis A Greenfield Rapid Transit—^See
Torre Haute Indianap. A Eastern Trac. Co.
Indianapolis A Louisvllie Trac. Ry
Indianapolis A Martinsville Rapid Transit Co.
Indianapolis Newcastle A Eastern Trac. Co
Indianap. Newcastle A Toledo El. Ry.—-See
Ind. Newc. A East. Trac. Co.....
Indianapolis
Northern
Traction
Co.—See
Union Traction Oo. of Ind
68
34
59
58
58
59
58
5
5
5
Indianapolis A Northwestern Traction Co..— 68
Oct.. 1920
149
INDEX TO RAILWAYS
.
Page.
Poor.
Ind. Shelbyville 9c Southeastern Traction Co.
_
T7See Ind. 9c Cin. Traction Co
59
Indianapolis & Southeastern Traction Co.—
See Ind. & Cin. Traction
59
Indianapolis Street Ry
Indianapolis Trac. & Term.
59
.
Co.—See Indian¬
Street Railway
59
Empire RR. Co
131
Interborough Rapid Transit Co.—See "Rail¬
Inter39
...
Inter-Urban Ry. (Des Moines)
Interurban Ry. & Terminal Co
Iola (Kansas) Electric Ry.
41
30
145
...
Iowa City Gas & Elec. Co.—See Tri-City Ry.
& Light Co
52
Iowa City Lt. & Pow. Co.—See Tri-City Ry
9c Light Co—.
1.
52
_
_
Iowa 9c Illinois Ry. Co.—See Tri-City Ry.&Lt.52
Iowa Railway & Light Co
21
Iowa Southern
Utilities Co
Ironwood 9c Bessemer Ry. & Lt
Irwin-Herminie Traction Co
21
59
145
Ithaca Street Ry.—See Ithaca Trac. Corp
Ithaca Traction Corp
60
60
-
Co.—See
Traction
Mich. United Rys
49
Jackson & Battle Creek Traction Co.—See
Michigan United Rys
49
Jackson Gas o?o.—- See Michigan Light Co.
.
—See Consumers Power Co
51
Jackson (Miss.) Light 9c Traction Co
60
Jackson (Tenn.) Ry. 9c Light Co
60
Jacksonville (Fla.) Elec. Co.—See Jacksonv.
Traction Co
60
Jacksonville Gas, Light & Coke Co.—See
Jacksonville Ry. 9c Light Co
23
Jacksonville (Fla.) Traction Co..
60
Jacksonville Ry. & Light Co
23
Jamaica & Brooklyn RR.—See B. R. T__
14
Jamestown Street Ry
61
Jamestown West field 9c Northwestern RR
145
_
-
Janesville (Wis.) Traction Co.—See Union Ry..
Gas & Electric...
50
Jardim Botanico Tramway.—See Rio de Janei¬
ro
144
Tramway, Light & Power Co
Jefferson City Light. Heat & Power
Jefferson Division—See Penn. & Ohio
Co.
23
Trac.
6
.......
Jersey Central Traction Co
63
Jersey City & Bergen RR.—See Cons. Trac. Co. 79
Jersey City Harrison & Kearney Ry. Co.—
See Consolidated Traction of New Jersey— 79
Jersey City Hob. & Pat.—See Pub. Serv. Ry_„ 78
Johnstown Pass. Ry.—See Johnstown Trac.. 61
61
Johnstown Traction Co
Joliet RR.—See Chicago & Joliet
Joliet & Eastern Traction
Electric Ry.102
61
.........
108
Joplin 9c Pittsburg Ry. Co
§/anawha Traction & Electric Co
100
"•anawtaaValley Traction Co.—See Charleston
Interurban
25
RR
145
145
62
61
Kansas City Kaw Valley & Western Ry
62
Kansas City Light & Power Co.—See Kansas
City Power & Light Co.f
62
Kansas City Power & Light Co
62
Kansas City Outer Belt & Elec.
Ry.—See
Kankakee Electric Ry
Kankakee Urbana Traction Co
Kansas City. Clay County & St. Joseph
Kansas City Elev. Ry.—See K. C. Rys
"Railway & Industrial" Section.
61
Ry.—See Kan.
Rys
61
Kansas City-Western Ry
62
Kansas Electric Utilities Co
65
Kenosha Elec. Ry.—See Wise. Gas 9c Elec. Co. 73
Kentucky Securities Corporation..
66
Kentucky Traction & Terminal Co
66
Keokuk (Iowa) Electric Co
63
Keokuk Elec. Ry. & Pow.—See Keokuk El. Co 63
Keystone Utilities Oo_.
129
Key West Electric Co
63
Kings bridge Ry
89
Kings Co. Elevated—See N. Y. Consol. RR— 16
Kings Co. Traction—See Nassau Electric
17
Kingston City RR.—See Kingston Cons. RR. 64
Kingston Consolidated RR
...
64
Kittanning & Ford City—See West Penn Trac.113
Knox County Electric Co
.....—123
Knoxville Ry. & Light Co
64
Knoxville Traction—8ee Knox. Ry. & Lt. Co. 64
Kokomo Marion & Western Traction Co.—See
Indiana Rys. & Light
64
Kutztown
&
Fleetwood
Street
Ry.—See
Allentown 9c Reading
4
Kansas City Railways < 'o—.—
Kansas City 9c Westport Belt
City
—
...
Trac.—See Scranton Ry__103
Co.—See
129
Lacombe & Blindman Valley Electric Ry
145
Laconia Street Ry
64
-^Lacrosse City Ry.—See Wise. Ry. & Lt. Co.. 64
Lafayette & Logansport Traction.—See Indi¬
ana
Service Corp
46
Lafayette
Street
Ry,—See
Indiana
Ser¬
vice Corp.__
46
Lake Charles Ry. Light & Water Works
65
Lake Erie Bowling Green & Napoleon Elec.Ry.145
Lake Erie <k Northern Ry
--145
Lake Erie Trac. Co.—See Buff. &L Erie .Trac 17
Lake Erie & Youngs town
145
Lake Roland Elevated—See United Rys. 9c
Electric Co. of Baltimore
7
Lake Shore Electric (Cleveland)
33
Lakeside
Ry.,
Mahanoy
City,
Pa.—See
I ackawanna Vail.
^acka.
Wyo. Vail. Rap. Tr.
Scranton & Wlikes-Barre Trac
&
—
—
.
49
Traction
Schuylkill
Lake Street Elevated RR.—See
Oak Park Elevated Ry
Lake View L. & Impt. Co.—See
Cons. Ry
Chicago
9c
30
Canton-Akron
—
2
Memphis 8t. Ry.. 72
Lancaster City RR.—See Lan. Co. Ry. 9c Lt.
Co.65
Lancaster & Columbia—SeeLanc.Co.Ry.&Lt. 65
Lancaster County Ry. & Lt. Co
65
Lancaster & East. Ry.—SeeLanc.COiRy.&Lt. 65
Lancaster Mechanicsburg 9c New Holland—
See Lane. Co. Ry. & Lt. Co
65
Lancaster Gas Light 9c Fuel Co.—See Lan¬
caster County Ry. 9c Light Co
65
Lake View Trac. Co.—See
.
Lancaster
caster
-
—
Petersburg & Man helm—See Lan¬
Co. Ry. & Lt. Co..--.--....-..-.- 65
65
145
65
Co. Ry. & Lt
65
65
49
Lancaster & York Furnace Street Ry
& Nor. Ind. Ry
City Ry.—See Chic. S. B.
....—131
Lt. & Tr
89
Las Vegas Transit Co.—See Fed.
Laurel Light & Railway Co
Lawrence
65
&
Reading.—See Eastern Massa¬
chusetts Street Ry. Co
12
Leav. Lt., Ht. & Power Co.—See United Gas
& Electric Co
92
Lebanon Valley St. Ry
121
Lehigh Navigation Electric Co.—See Lehigh
Power Securities Corporation
3
Lehigh Power Securities Corporation.
3
Lehigh Traction
57
Lehigh Val. Trac.—See Lehigh Val. Tran. Co.
4
Lehigh Valley Lt. & Pow. Co.—See Lehigh
...
Valley Tran. Co
4
Lehigh Valley Transit Co
Leominster & Clinton St. Ry.—See New Eng.
4
139
Invest. & Sec. Co__—
Leominster Shirley 9c Ayer St. Ry.—See Fitch-
burg & Leominster Street Ry
46
Lewisburg Milton & Watsontown Pass. Ry
72
Lewiston 9c Auburn Elec. Lt. Co.—See An¬
droscoggin Electric Co
117
Lewiston Augusta 9c Waterville St. Ry.—See
Androscoggin & Kennebec Ry
117
Brunswick &
Bath
St.
Ry.—See
Androscoggin & Kennebec Ry
117
Lewistou-Olarkston Transit Co—
145
Lewiston Connecting Bridge—See Int. Trac.. 18
Lewiston & Youngstown Frontier Ry_.
97
Lewistown & Keadsville Electric Ry
66
Lewiston
Lexington
Avenue
See New York
&
Ferry
Pavonia
Ry.—
Rys
86
Ry.—See Middlesex
Lexington & Boston St.
& Boston Street Ry
11
Lexington Ice Co
Lexington & Interurban Rys.—See Kentucky
Securities Corporation.
66
Lexington Ry.—See Kentucky Trac. & TermLexington Utilities Co—-—•
Licking River Br. Co.—See Cin. New. & Cov.
Lima Electric Ry. & Light
Lima Find lay & Toledo—See Western Ohio Ry
66
66
66
_
37
35
66
Lima-Honeoye Electric Light & RR
145
Lima-Honeoye Falls Light 9c RR
145
Lima & Toledo Trac. Co.—See Ohio Elec. Ry. 34
Lincoln (111.) Ry. & Lt Co
145
Lincoln (Neb.) Traction
66
Lindell Ry.—See United Rys. Co. of St.Louisl24
Linglestown & Blue Mtn.—See HarrlsburgRys. 55
Little Falls (N. Y.) & Johnstown RR
—145
Little Rock Railway & Electric Co
67
Lockport Gas & Electric.—See United Gas &
92
Electric Co
92
18
-
Co.—See
Utah-Idaho
125
Lombard
&
South Street Passenger Ry.—
See Frankford
& South wark Phil a. City
141
London (Canada) Street Ry
Long Island Consol Electrical Cos.-—_
67
Long Island Electric Ry
67
Long Island Trac.—See Brooklyn Rap. Tran. 14
Lookout Mtn. Ry.—See Chatt. Ry. & Lt. Co. 76
Lorain & Cleve. RR.—See Lake Shore Elec— 33
Lorain St. RR.—See Lake Shore Elec. Ry.-.- 33
Loramle 9c Minster Electric RR..
145
Los Angelas Hermosa Beach & Redondo—See
Pacific Electric Ry
68
Los Angeles Pacific Co.—See Pac. Elec. Ry— 68
Los Angeles Pac. RR.—See Pac. Elec. Ry
68
Los Angeles Ry.—See Los Angeles Ry. Corp.- 68
Los Angeles & Pasadena Elec. Ry.—See Pa¬
68
cific Electric Ry
Corp
-68
Redondo Ry.—See Pac. Electric
Los Angeles Ry.
Ry.c
68
-
Ry
145
Los Angeles Trac.—See Los Ang. Ry. Corp— 68
Louisville & Interurban Ry.—See Louisville
Los Angelas & San Diego Beach
Railway
—68
Louisville & Nor. Ry. 9c Ltg. Co.--.-------- 69
Louisville Railway Company
68
Louisville & Southern Indiana Trac. Corp.--- 69
Lowell 9c Fitchburg Street Ry
Lowell
Lawrence
&
Haver.—See
Massachusetts
7
Eastern
12
31
Ry. Co
Cleveland Ry
Street
Low Fare Ry.—See
Lynchburg Gas Co.—See Lynchburg Trac. 9c
Light Co
.103
Lynchburg & Roanoke—See American Rys. Co 101
Lynchburg Trac. & Light—
——
103
Lynchburg Water Power Co.—See Lynchburg
Traction & Light Co——
— .103
Lynn & Boston RR.—See Eastern Massa¬
chusetts Street Ry. Co
12
^
Macon
Macon Electric Light & Ry.—See
Ry. & Light Co
Macon Gas Co
i
—
Macon Railway 9c Light Co
Madison County Light 9c Power
—
Co
69
71
69
23
71
Madison (Wis.) Railways Company
Mahoning & Shenango Ry. & Light Co. (with
map).—See Republic Ry. & Light Co
91
Mahoning Val. S. E.—See Rep. Ry. & Lt
91
Maine Railways, Light & Power
123
Manchester 9c Dorry St. Ry.—See Man. Trac.
Light & Power
71
Manchester & Nashua St. Ry.—See Manch.
Trac., Light & Power Co
71
Manchester Traction, Light & Power Co—- 71
Manhattan Bridge (N. Y.) 3-Cent Line
17
Manhattan & Queens Traction Corporation.. 67
Manhattan Ry.—See "Railway & Industrial
8ection."
Manila Electric RR. & Lighting
Corp
Manila Suburban Rys
Ry..
Marcellus & Otisco Lake
Manistee
Marlon
Bluffton
&
-
Ry
East.
Trac.
—141
142
51
-.145
Co.—See
Marion & Bluffton Traction Co
Marlon & Bluffton Traction Co
Marion City Ry.—See Un Tr. of Ind
....
Marion Railway Light 9c Power Co.—See Col-
umbus, Delaware & Marion
ElepvCo
&
104
Westboro
Street
of San Fran. 127
Ry.—See New
Eng. Invest. & Sec. Co
139
Marquette County Gas 9c Electric Co.—See
Michigan Gas & Electric
60
Marquette County Electric Railway Co
60
Marseilles Water & Light Co.—^See Consumers
Water & Light Co
22
Marshalltown (Iowa) Lt., Power & Ry.—See
Iowa Ry. & Light Co
21
Martinez & Concord Interurban Ry.——-145
Maryland Electric Rys__
8
Mason City & Clear Lake RR
52
Massachusetts Consolidated Rys
54
Massachusetts Elec. Companies—See Eastern
Massachusetts Street Ry. Co
12
Mass. Northeastern St. Ry
57
Mass. North. Rys.—See Mass. Consolidated— 54
Massillon Elec.& Gas Co.—See Cities Serv Go. 93
Mattoon City Ry. Co.—See Cent. HI. P. S. Go. 71
Mauch Chunk & Lehighton Transit Co
71
Maumee Valley Railways & Light Co
95
McGavock 9c Mt. Vernon Horse RR.—See
Nashville Ry. & Light
75
Meadville & Conneaut Lake Traction.—See
North Western Pennsylvania Ry
44
Meadville (Pa.) Trac.—See Northw. Penn. Ry 44
Medfield & Medway Street Ry__
145
Media Glen Riddle & Rockdale.—See United
Power & Transportation
107
Memphis Street Ry
72
Menominee & Marinette Light & Trac. Co—145
Mercer Co. Traction.—See Trenton Street Ry_135
Merchants' Electric Light Co.—See New Or¬
leans Railway Co
85
Merlden Horse RR.—See Connecticut Co
82
Merlden Middletown 9c Guilford Electric Ry.145
Merlden Southington & Oompounce Tramway
—See Connecticut Co
82
Meridian Light & Railway Co
95
Mesaba Railway
136
Metrop. Crosstown RR.—See New York Rys. 86
Metropolitan RR.—See Wash. Ry. & Elec...136
Metropolitan St. Ry. (N. Y.).—See N.Y.Rys. 86
Metropolitan West Side Elev. Ry. (Chicago)-- 29
Mexican Light & Power, Ltd
145
Mexico Santa Fe & Perry Traction
145
Mexico Tramways Co
-145
M iatnlsburg & Germantown. —SeelOio. & Day. 36
Michigan City
Traction Co.—See Chicago
South Bend & Northern Indiana
131
-
-
-
Michigan
Elevated
Cos
10
10
5
36
.
145
Ry
60
Michigan Gas & Electric Co
Michigan Light Co.—See Consumers Power Co.
Michigan Railway.—
Michigan Railroad—See Michigan Railway.Michigan Traction.—See Mich. United Rys—
Michigan United Rys, Co.—See Michigan Ry.
Mld-Crosstown Railway Co
Mlddleb. Wareham & Buzzard's Bay St. Ry.—
See New Bedford & Onset Street, Ry
Middlesex & Boston St. Ry.—See Boston Su¬
51
49
49
49
49
89
82
11
Power Co
77
Traction.—See Public
...
Middlesex Electric Light &
Middlesex & Somerset
Service Ry
78
—
Middletown (Conn.) St. Ry.—See Conn. Go__ 82
Middle West Util Co.—See "Rv. and Ind." Sect.
Milford Attleboro & Woonsocket St. Ry.
Passenger Railway
106
Lonaconing Midland & Frostburg Ry.—See
Cumberland & Westernport
95
London & Lake Erie Ry. & Transportation
141
London & Port Stanley Ry
145
Los Angeles &
RRs. of S.F.127
Philadelphia
Market St. Ry.—See United RR
Marlboro
burban Elec.
Lockport Light, Heat & Power.—See United
Gas & Electric Co
Lockport & Olcot.t—See Internat. Traction
Logan Rapid Transit
Central RR
Market Street Gable Ry.—8ee U.
Market St. El. Pass. Ry.—See
Rapid Transit
Lancas¬
Lancaster Willow St. Lam. & Stras. Ry.—See
Lancaster Co. Ry. & Lt. Co
La Porte & Mich.
International Transit Co. (Sault Ste. Marie)145
Inter-State Consolidated Street Ry
140
Inter-State Public Service
.—.145
Inter-State Railways Co
107
Consolidated
65
Lansing & Jackson Ry.—See Mich. Un. Rys.
&
Inter-Mountain Ry., Lt. & Pow. Co. (of Colo.)l45
International Ry.—See Inter. Traction Co
18
Internal. Traction Co. (Buffalo)
18
Jackson
J
Lancaster 9c Rocky Springs Ry.—See
ter Co. Ry. & Lt. Co
Lancaster & Southern Street Ry
Lancaster Trac. Co.—See Lane
apolis
Inland
way and Industrial" Section.
Inter-Mountain
Ry.—See Denver
Mountain RR
Lancaster 9c Quarryville Street Ry.—See Lan¬
caster Co. Ry. & Lt. Co.
New
See
139
England Invest. & Sec. Co.-
Milford Holliston & Framlnghani St.
Ry
Milford & Uxbridge Street Ry
Ry.—See
72
72
Milford & Uxbridge Street
—
54
Miller's River Street Ry
Mlllvate
Etna & Sharpsburg Street
Ry.—See
Allegheny Traction
112
Millville Traction....
72
Milwaukee Electric Railway 9c Light
—
72
Milwaukee
&
Fox
River Valley Ry.—See
Eastern Wise. Elec. Co—
130
Milwaukee Light, Heat &
waukee Elec. Ry. & Lt
Traction—See Mil¬
72
21
Ry.—SeeMllw. Elec. Ry.& Lt. 72
Milwaukee Western Electric Ry
145
Minneapolis Anoka 9c Oayuna Range RR
146
Minneapolis Northfield & Southern
74
Minneapolis Street & St. Paul City Railway.—
See Twin City Rapid Transit
74
Minneapolis & St. P. Sub.—See Twin C. R. T- 74
Minneapolis St. Ry.—See Twin City Rap. Tr. 74
Milwaukee Northern
Ry
—_—
Milwaukee St.
Minnesota Central Ry
Mississippi Valley Railway & Power
Missouri & Kansas Interurban Ry._
146
Co——123
Missouri Electric RR
Mobile Light & Railroad
Mobile Street RR.—See Mobile Light & RR-
Mohawk Valley Co.—See N.
Monmouth County Electric
Monocacy
Valley
Frederick Ry...
Ry.—See
62
125
74
74
122
Y. State Rys
67
Hagerstown
&
55
112
Monongahela Street Railway
Monongahela
Lt.
& Pow.—See Duquesne
Light Co
113
Monongahela Valley Traction Co
45
Monterey & Pacific Grove Ry.—See Coast
Valley Gas & Electric Co
127
Monterey (Mex.) Railway. Light & Power—146
Montgomery Co. Pass. Ry.-See Schuyl. V. Tr.120
Montgomery Light & Traction 'Co
74
Montgomery Street
Ry.—See Montgomery
(Ala.) Light & Traction Co
74
Montgomery (Ala.) Traction Co.—See Mont¬
gomery Light & Traction Co
74
Montgomery Transit & Light Co
—146
Montoursville Passenger Ry
74
Montpelier & Barre Light & Power—
8
Montreal Public Service Con>oration
142
Montreal Street Ry.—See Mont Tramways.. 142
Montreal Tramways Co
142
Montreal Tramways & Power Co
142
Montville St. Ry.—See Shore Line Elec. Ry__ 97
Moose Jaw (Sask.) Electric Ry
146
Morgantown & Wheeling Ry
—
146
Morningside Electric Street Ry
112
Morris County Traction Co
75
Morris RR.—See Morris County Trac. Ooi
75
Morristown Gas Light Co
78
Mountain Lake Electric RR
—---—146
Mt. Hood Ry. & Power.—See Portland Ry.,
Light & Power Co
----117
Mt. Oliver Incline Plane Ry.—See P. 9c B.
Traction System
Mt. Washington Street
Ry
111
111
Ry__
146
Nfousam River RR.—See Atlantic Shore Ry-- 62
Muncle Hartford & Ft. Wayne Traction Co.—
See Union Traction Co. of Indiana.o
Muncle 9c Portland Traction Co
......
5
Muncle 9c Union City Trac. Co.—See Union
Traction Co. of Indiana
—
0
Mt. Vernon (O.) Elec. St.
150
INDEX TO RAILWAYS
Page.
Municipal Service Co
108
Muscatine & Iowa City Ry
146
Muskegon Traction & Lighting Co
75
Muskogee Electric Traction Co
75
Myersvllle k Catoctin Ry.—See Hagerstown
& Frederick Ry
55
Mystic Valley St. Ry.—See Eastern Mass. St.
Ry. Co
12
-
]U*shua Street Ry
.
75
iTshvIlle k Edgefield RR.—See Nashville Ry.
& Light Co
75
...
Nashville
Railway. & Light Co
Nashville St. Ry.—See Nashv. Ry. & Lt. CoNashville Traction
Nassau Electric
-
RR
Ry. & Power Co.—See
Southern Ry. k Llght__
Natick k Cochituate Street Ry.—See Mlddlesez k Boston Street Ry
National
ican
Gas
Rys.
75
75
76
17
Electric St.
Natchez
-
Elec.
Lt.
k
Pow.—See
76
11
Amer¬
Co
101
National Properties Co.
101
Neptune Elec. Co.—See Ati. Coast Elec. Ry
Navigation Co
5
Neversink Mountain Ry.—See Reading Tran¬
sit & Light Co
:
120
New Albany St. Ry.—See Lou. k So. Ind. Tr- 69
[Vol. 111.
Scranton
k
Blnghampton Ry
9
Northern Illinois Light k Traction Co
24
Northern Indiana
Ry.—See Chicago South
Bend k Northern Indiana Ry
131
Northern Massachusetts Street Ry
54
Northern Ohio Electric Corporation
2
Northern Ohio Trac. & Light Co
2
Northern Ohio Traction—See Northern Ohio
Traction & Light Co
Northern States Power Co.—Fargo k
head
2
Moor-
Division
Northern Texas Electric Co
Northern Texas Trac.—See Nor. Texas Elec—
46
46
46
Northumberland County Gas k Elec. Co.—See
Lehigh Power Securities Co
3
Northumberland County Traction Co
--146
Northwestern Electric Serv. Co. of Pcnna
44
Northwestern Elevated (Chicago)
29
Northwestern Ohio Ry. k Power Co
Northwestern Pennsylvania Ry
116
44
146
Norton Taunton & Attleboro Street Ry
Norwalk Gas & Electric Co.—See Cleveland k
.
Newark Consolidated
Gas
Co
78
Newark Gas Co.-See Newark Consolidated Gas 78
Newark & Marion Ry. (New York)..146
Southwestern & Columbus
Norwich Street Ry.—See Shore Line Elec. Ry-
Norwich &
Line Electric Ry
Norwood Canton k Sharon Street
Nova
Scotia
Tramways
&
Ry—-_—146
Co
140
Fran-
Oakland
Fran .-Oakland Terminal Ry
Oakland Term. Co.—See San Fran .-Oak/Term.
Terminal
Oakland
County Traction
;.
96
Castle Electric Co.—See PennsylvaniaOhio Electric Co
91
New Castle Trac.—See Penn.-Ohio Elec. Co_- 91
Oakland
New England Investment k Security Co
139
New Hampshire Electric Railways
57
New Haven k Centr. St. Ry.—See Conn. Co- 82
New Haven Street Ry.—See Conn. Co
82
New Holland Blue Ball k Terre Hill St. Ry.—
See Lancaster Co. Ry. & Lt. Co
65
-
New Jersey & Hudson River Ry. k Ferry
New Jersey & Pennsylvania Traction
82
New
London
Electric Ry
Street
Ry.—See
Shore
Railway k Light
Power
Oakwood
Ogden
Idaho
RR.—See
Utah-Idaho
Transit
Co.—See
97
38
Street Ry. Co
Lake
Central
Ogden
97
Rys
k
RR.
Rapid
Central
Utah-Idaho
-—-----125
RR
Ogdensburg Street Ry
146
Ohio Central Traction—See Cleveland South¬
32
34
116
-14 6
-
30
Ohio Valley Electric Ry
—103
Oklahoma Electric Term. Co.—See Okla. Ry- 96
85
Oklahoma Railway Co__
Oklahoma Union Railway
Olean Rock City & Bradford Ry.—See West¬
ern New York & Pennsylvania Traction
Olean St. Ryi.—See West. N. Y. & Penn. Trac-
85
Omaha & Council Bluffs Street Rv
Omaha Council
85
Newport & Covington
37
Newport Electric Corp
1 13
Newport Ilium.—See Newport Electric Corp. 13
Newport St. Rv.—See Newport Electric Corp. 13
Newport
&
Fall
River • Street
Ry.—See
Newport
Electric Corp
1
13
Newport News k Hampton Ry.. Gas k Elec.
99
120
99
99
Suburban
Ry.—See
Co— 99
99
Omaha Lincoln k Beatrice Railway Co
67
Omnibus Cable Ry.—See United RRs.of S. F.127
Oneida Railway Co.—See N. Y. State Rys—122
Omaha k Council Bluffs Ry. k Bridge
Omaha & Lincoln Ry. & Light Co
Oneonta k Mohawk Val. RR.—See Southern
N. Y. Power & Railway Co.Ontario k San Antonio
36
Heights.—See Pacific
Electric Ry
68
—
Ontario Light k Trac.—See N. Y. State Rys—122
55
95
Orange County Traction Co.Orange & Passaic Valley Ry
Oregon Electric Ry.Orleans-Kenner Electric Ry
Newport News & Old Point Ry. & Elec.—See
Newport News & Hamp. Ry. Gas k Elec.Co.
Newp ort & Providence Ry
Newtown Ry.—See N. Y. k Queens Co. Ry—
New
Williamsburg
&
Flatbush
RR.—See
Brooklyn Rapid Transit
New York City Interborough Ry. Co
67
New York Consolidated RR
New York & Harlem RR
16
-
14
89
-
96
79
-------—118
—146
Orleans RR.—See New Orleans Ry. k Light— 85
Girono Water Co.—See Bangor Ry. k Elec. Co.
8
Qpkaloosa Trac. & Light Co.—See Des Moines
-----
k Central Iowa Electric Co
23
86
New York & Long Isl8,nd Traction
New York Municipal Ry. Corp
Ottawa (Canada) Electric Railway
67
-
Ottawa Traction Co., Ltd
-
142
--142
17
Ottumwa Railway & Light Co
82
New York New Haven & Hartford Ry
New York k North Jerney Rapid Transit
Qttumwa Traction k Light Co.—See Ottumwa
146
New York & North Shore Traction
(Roslyn).-123
New York & Port Chester Ry.—See New York
Bost >a
67
New York
Railways Company
86
New York State Railways
_122
New York & Stamford Ry
85
New York Westchester & Boston Ry
85
N. Y. Westchester & Conn. Trac. Co
-146
Niagara & Erie Power—See Buff. k L, E. Tr- 17
Niagara Falls Park k River—See Int. Trac._ 18
„
Niagara Falls & Suspension Bridge Ry.—See
International Traction
lg
Niagara Falls Whirlpool k Northern Ry.—See
International Traction
]g
Niagara Gorge Ry. (Electric)
Niagara St. Catherines k Toronto Ry_.
™ 96
142
Nichols Electric Light k Power
Ninth Avenue RR
...
77
gg
Norfolk k Atlantic Terminal—See Va.
Power Co
I
Ry7"&
121
Ry.—See Eastern Mass".
99
——,—-—
—
-
-—-
Oxford Electric Co
"
Va".
Ry. k Power Co
47
99
45
123
121
Ry. Co
Pacific Coast Co
Power & Lt. Power Co.—See |Puget Sound 129
-
-
12
Ry.—See Schuylkill Valley
120
Norristown Trans. Co.—See Leh. V. Trans.Co.
4
North Alabama Traction Co
146
Pow. & Lt. Co
—-
68
Paducah Street Ry.—See Pad. Elec. Co
99
Paducah City Ry. Co.—See Paducah Elec. Co. 99
Paducah Electric Co
99
Pan Handle Trac. Co
115
Parkersburg Marietta k Interurban Ry.—See
Kanawha Traction &
Electric Co
100
Parkersburg (W.Va.) k Ohio Valley Elec.Ry—146
Park
k
San
Ocean
RR.—See
United Railroads of
127
Francisco——
Park. Pt. Trac. Co.—See Dul.-Sup. Trac— 43
Parkside Elec. Ry.—See San Fran. Elec. Rys.127
Shoals
Gas &
Power
Co.—See
Columbia
Ry.,
34
Electric Co
Pasadena & Mt. Lowe Ry.—See Pac. El.
Ry
68
100
Passaic k Newark El. Tr.—See Cons. Trac. Co 79
Passaic Lighting Co.—See Paterson & Passaic
Gas k Electric Co
78
Passaic Gas Light Co.—See Paterson k Pas¬
saic Gas k Electric Co
78
Passenger k Belt Ry.—See Ky. Trac. k TermPaterson City Ry.—See Public Service Ry
Paterson k Pa&salc Gas k Electric Co
—
Paterson
Railway.—See Public Service Ry
66
78
78
78
Paterson & State Line Traction Co
82
Pawtucket St. Ry.—See United Trac. k Elec. 84
Peeksklll Lighting k Railroad—
100
Pel ham Park & City Island
89
Pelham Park Railway
146
North Branch Transit Co
Pennsylvania Light & Power
North Carolina Public Service Co
North
Hudson
Service
County
54
Ry.—See
Public
Ry
78
North Hudson Light, Heat & Power Co.—See
United Electric Co. of New Jersey
77
North Jersey St. Ry.—See Public Service Ry- 78
North River Ry.—See Hudson Valley Ry
3
Northern
Cambria
Ry
100
Northern Central Gas Co.—See Lehigh Power
Securities Corporation
-
Peninsular
Railway
128
113
.
Penn Motor Co.—See Easton Cons. Elec. Co.
4
Pennsylvania & Mahoning Valley Traction Co.
—See Republic Ry. k Light Co
91
P«nn sylvan la-New Jersey Ry. Co
96
Pennsylvania-Ohio Elec. Co
91
Pennsylvania Utilities Co.—8ee "Railway and
Industrial" Section.
Pennsylvania
Ohio
3
Co
100
l_
100
82
People's Gas & Electric Co. (Burlington).—See
Burlington Railway & Light Co
19
People's Gas k Electric Co. (Mason City).—
See United Light k Railways Co—
51
People's Incandescent Light Co.—See Craw¬
ford County Ry. Co
44
People's Passenger Railway
106
People's RR.—See New York State Railways. 122
People's Ry. (Dayton. O.)
102
People's Ry., Wilmington, Del.—See Wilm.
k Phil a. Traction Co
103
103
People's Street Ry.—See Scranton Ry
People's Street Ry. (West Newbury. Mass.)—
See Eastern Massachusetts Street Ry. Ce_ 12
Peopled Traction (Philadelphia, Pa.)
106
People's Tramway Co.—See Connecticut Co— 82
Peoria Bloomington & Champaign Trac. Co.—
See St. Louis
Gas
&
24
Springfield & Peoria
Electric Co.—See
Union
Ry.,
50
Gas & Electric Co
Peoria Light Co.—8ee Union Ry.. G. k E. Co.
Peoria
Lincoln
k Springfield
Ry.—See St.
50
Peoria
24
I
24
Peoria Ry. Term. Co.—See "Ry. & Ind." Sec.
Perry
Street
Passenger
Ry.—See
Federal
Street k Pleasant Valley Ry
-111
101
Petaluma k Santa Rosa RR
Philadelphia Bristol k Trenton Passenger Ry.
—See Trenton Bristol k Phila. Street Ry—108
Philadelphia City Passenger Ry—
-106
Philadelphia Co. (Pittsburgh, Pa.)„
109
Philadelphia k Darby Ry
106
Philadelphia & Easton Electric Ry——-—- 42
Philadelphia & Garrettford St. Ry. Co.—See
Philadelphia k West Chester Traction
104
Philadelphia k Gray's Ferry Passenger Ry_—106
Philadelphia k Lehigh Valley Traction.—See
Lehigh Valley Transit Co
4
Philadelphia Railways Co
108
Philadelphia Rapid Transit Co
104
Philadelphia Traction
106
Philadelphia k West Chester Traction
104
Philadelphia & Western Ry
—108
Philadelphia k Willow Grove Street Railway. 106
Phoenixvflle Valley Forge k Strafford El. Ry. 146
Piedmont k Northern Railwav
25
Piedmont Railway k Electric Co
146
Pine Bluff (Ark.) Co
108
Pltcalrn & Wilmerding Street Ry.—See Monongahela Street Ry
-112
Pittsburgh Allegheny k Manchester Traction.
—See United Traction System
111
Pittsburgh k Allegheny Valley Traction Co.—
See West Penn Railways
113
Pittsburgh k Beaver Lt. Co.—See Duquesne
Light Co
113
Pittsburgh & Beaver Street Ry
113
Pittsburgh & Birmingham Passenger Ry.—See
Pittsburgh & Birmingham Traction
111
Pittsburgh k Birmingham Traction
111
Pittsburgh Butler & Harmony Consolidated
k Power Co
116
Pittsburgh Canonsburg & Washington Ry
Pittsburgh k Charlerol Street Ry
111
111
Pittsburgh County Ry.—See Choctaw Power
k Light Co
69
Pittsburgh Crafton & Mansfield Street Ry.—
See Pittsburgh Railways Co
110
Pitts. Harmony Butler & New Castle St. Ry_.ll6
Pittsburgh Incline Plane.—See Pittsburgh k
Birmingham Traction System
111
Pittsburgh Mars & Butler Ry
116
Pittsburgh McKeesport & Connellsville Ry.—
See West Penn. Rys. Co
113
Pittsburgh McKeesport k Greensburg Ry.—
See West Penn. Railways Co
113
Pittsburgh Railways Co
110
Pittsburg RR.(Kan.)—See Joplin & Pitts. Ry_108
Pittsburg Traction
—112
Pittsburg (Kan.) Ry. & Light Co.—See Jop¬
lin k Pittsburg Ry
108
Pittsburgh k West End Passenger Ry.—See
Pittsburgh Railways Co
110
-
Pitts. & West Va. Gas Co.—See Phila. Co—109
Plttsfleld
(Mass.) Electric Street Ry.—See
Berkshire Street Ry
84
&
Ohio
Ry. Co
103
-
Plttston Street Car.—See Wilkesbarre & Wyo¬
Ry.—See
Traction Co
Pennsylvania & Ohio Trac. Co
Penn.
ming Valley Traction System
138
k
6
6
Plainfield Gas k Electric Co.—See Somerset
Union k Middlesex Lighting
78
Pl&lnfield St. Ry.—See Public Service Ry
129
Northampton Street Ry
97
Northampton & Amherst St. Ry.—See Con¬
necticut Valley St. Ry
54
Northampton Easton k Washington Traction
—See Northampton Traction Co
43
Northampton Traction Co. (Easton, Pa.)
43
146
Electric
Electric Co
People's Elevating CO
—-
Pacific Electric Ry
Pacific Gas & Electric Co.—See "Railway k
Industrial" Section
Pacific
Traction
Co.—See
Puget
Sound
Pascagoula Street Railway k Power Co
Norfolk (Va.) Ry. k Light
122
Norfolk Street RR.—See Norf. Ry. k Lt. Co
122
Norfolk
Sub. RR.—See Eastern Mass.
St.
cola
Pensacola
Plttston & Scranton Street Ry.—See Scranton
Parr
12
-
Co.—See
Railway k Light Co.Owensboro City RR
85
.
New York & Queens County Ry. (L. I.
City)-
St.
Bluffs &
99
55
-
St. Ry. Co
12
Oley Valley Ry.—See Reading Tr. k Lt. Co
Omaha & Council Bluffs Ry. k Bridge
Dayton Street Ry.—See Cincin¬
Norfolk k Bristol Street Ry
Norfolk k Portsmouth Trac.
98
146
—
St. Ry.—See Eastern Mass. St.
Colony
Ry. Co
85
nati
Co
Old
112
Penn Yan k Lake Shore Railway
146
Pensacola Electric Terminal Ry.—See Pensa-
—
125
-
85
85
146
;
Railway & Light
New Orleans Ry. & Light Co
New Orleans Traction Co.—See New Orleans
Railway k Light
Traction
Fran.-Oak.
Co.—See
Transit
Terminal
Ohio Traction Co
New Orleans & Pont. RR.—See New Orleans
Norristown Pass.
San
97
Co.—See
97
New Orleans & Grand Isle Traction, Light k
Central
Oakland
97
Fran.-Oak.
Traction
Rys
85
New Orleans City RR.—See N. O. Ry. & Lt-
Norfolk
San
97
Fran.-Oak.
Cons.—See
western k Columbus Ry--Ohio Electric Railway
97
New Orl. City k Lake RR.—See N. O. Ry.&Lt
New Orleans Gas Light Co.—See New Orleans
Westchester &
San
Trac.
Ohio River Electric Railway k Power
Ohio Service Co
Line
New Orleans & CarrolJton RR. Light k Power
Co.—See New Orleans Ry. & Lt
Newport k
Haywards Electric
k
Terminal
Term.
98
98
97
--------
Leandro
79
135
-
New Jersey Traction—See Con. Trac. Sys
New London k East Lyme St. Ry.—See Shore
Line Electric Ry
Rys.
San
See San
Newburg Electric Ry.—See Orange Co. Trac. 96
Newburg k Orange Lake RR.—See Orange
„.
-
.
Page.
(Pittsburgh).—See
Louis Springfield k
Peoria Railway Co
'
clsco-Sacramento RR_.------Oakland k Antioch-See San Fr.-Sacra. RR__
Oakland Railways—See San Fran. Oakland
Penn Street Passenger Ry.
Citizens' Traction
Peoria
Power
New Brunswick Light. Heat & Power Co
New Brunswick Power Co
New
97
97
—
r\akland Antloch & Eastern—See San
*
32
Westerly Traction Co.—See Shore
Newark Pass. Ry.—See Consol. Trac. Co
79
Newark Plank Road.—See Cons.Trac. of N. J. 79
New Bedford & Onset Street Ry
82
New
Bedford
Middleb.
&
Brockton.—See
Eastern Massachusetts St. Ry. Co
12
78
146
1
Page.
Northern Electric Street Ry. (Scranton).—See
78
Plattsburg Traction Co
116
Plymouth Bridge Co.—See Wilkesbarre &
Wyoming Valley Traction.,
138
Plymouth k Sandwich Street Ry
146
Point Pleasant (N. J.) Traction Co
146
Poland St. Ry.—See Republic Ry. k Lt. Co— 91
-—143
Ponce Electric Co
Pontiac Light Co.—See Consumer Power CO—
Port Huron St. Clair k Marine City Ry.—See
Detroit & Port Huron Shore Line
Port Jervls Traction Co
Portland k
51
42
116
Cape Eliz. Ry.—See Portland RR.117
Portland (Mej Elec. Co.—See Cumb. County
Power & Light
116
Portland Eugene k Eastern Ry.—See Southern
Pacific Co. in "Railway k Industrial" Sec.
Portland
General Electric Co.—See Portland
Railway. Light & Power Co
117
Lighting k Power.—See Cumber¬
land County Power k Lt. Co
116
Portland k Oregon City Ry
146
Portland (Mo.) RR
117
Portland Ry.Co.—See Portland Ry.Lt & Pow.117
Portland Ry., Light k Power Co
117
Portland (Conn.) St. Ry.—See Conn. Co
82
Portland*; Yarmouth Elec. Ry.—See Port.RR117
Porto Rico Rys. Co., Limited
—143
Portsmouth Dover k York Street Ry.—See
Atlantic Shore Ry
62
Portsmouth Electric Ry
146
Portsmouth
k
Exeter
St.
Ry.—See
New
Hampshire Electric
57
Portsmouth Kittery k York Street Ry.—See
Atlantic Shore Ry
62
Portsmouth (Ohio) Street RR. k Light Co
118
Potomac Elec. Power Co.—See Wash.Ry. k E.136
Potts town & Phoenlxville Ry
146
Pott8vill«& Reading Ry.—See E. Penn. Rys__118
Pottsvills Union Traction.—See E. Psnn. Rys.118
Pooghkeepsie & Wappingers Falls Ry
ll8
Poughkeepsie City k Wapplnger Falls Elec.
By.—See Pough. k Wappingers Falls Ry
118
Portland
-
„
Oct., 1920.]
151
INDEX TO RAILWAYS
Page.
PoweH Street Ry.—See United RRs. of S. F..A27
Power Transit A Light (California)—See San
Joaquin Light A Power Corporation——— 47
Presidio A Perries RR__
128
Princeton Lt., Ht. A Pow. Co—
78
.
.
.
Prospect Park & Coney Island Ry
17
Providence A Daxrielson Ry
84
Providence A
Burrfllville
Street
Ry.—See
Rhode Island Co—83
Providence Securities Co.—See Rhode Isl. Co. 83
—
Providence & Taunton St. Ry.—See Eastern
Massachusetts St. Ry. Co
12
,———
Public Service Company of Oklahoma
Public Service Corporation (with map)
Public Service Gas Co—...—.—
Public Service Electric Co—
Public Service Investment
146
76
77
.
77
13
Public Service Newark Term. Ry.—See Public
S^TVlC6 Ry
73
Public Service Ry "(with map)——I———I—I 78
Public Service RR
82
Public Utilities Co.—-See Union Ry., Gas A
.
——
—
.
...
Electric
50
Public Works Co.—See Bangor Ry. A Elec.Co.
8
Puebla Tramway Lt. A Power Co
146
Pueblo A Sub. Trac. A Light Co.—See Arkan¬
sas Val. Ry., Lt. & Pow
———119
.
Pueblo
Traction A Lighting—See Arkansas
Valley Ry., Lt. & Pow—
—119
Puget Electric Ry.—See Puget Sound Power
& Light Co
129
Puget Sound Power & Light Co
..129
Puget Sound Traction, Light & Power Co
See
Puget Sound Power & Light Co...—
.129
Putnam A Westchester Traction Co
.....100
Ouakertown Traction—SeeLeh.Val.Tran.Co 4
uebec-Jacques Cartier Elec.—See Quebec
Ry. Lt. Ht. & Power
;
143
Quebec-Montmorency Ry.—See Quebec Ry.,
Light, Heat & Power Co., Ltd
.—.143
Quebec Ry. Lt. Heat & Power..
143
Quebec & Saguenay Ry.—See Quebec Ry„
light. Heat & Power Co
143
Queens Ry. Co.—See New York A Qu. Oo.Ry. 67
Qulncy (111.) Horse Ry. & Carrying—See
Qulncy Ry
Qulncy
24
—
Railway...
—...
:
—
St. John (N. B.) Ry
—146
St. Johnsbury Elec. Oo.—See Twin States Gas
A Electric Co..———————
13
St. Joseph Ry.. Light. Heat A Power (Mo,).. 95
St. Louis A Belleville Elec. By
146
St. Louis Decatur A Champ. Ry.—See Bloom-
ington Decatur A Champaign
22
St. Louis East Side Belt Line Terminal Ry— .146
St. Louis Elec. Bridge Co-—
24
St. Louis Elec. Terminal Ry. Co
———
24
St. Louis Lakewood A Grant Park Elec. Ry—146
8t.L. A Mer.Rlver RR.—See United Rys.Oo.124
8t. Louis A Northeastern Ry.—See St. Louis
Springfield A Peoria..-.——.
Rys. Co...
St. Louis A St. Charles Bridge Oo
24
—124
125
RR.—-See
St. Louis RR.—See United
.
St. Louis St. Charles A Western
Missouri Electric RR..—
——125
St. Louis A Spring. By.—See St. Louis
Spring¬
field A Peoria—
—————24
St. Louis Springfield A Peoria RR
24
St. Louis A Suburban Ry.—SeeUnitedRys.Co. 124
Sti Louis Transit—See United Rys
124
......
...
Stt Paul City Ry.—See Twin City
Rap., Tran. 74
St. Paul Southern Electric .Ry—....l—..146
St. Tammany A New Orleans Rys. A Ferry Co.146
Salem A Pennsgrove Traction Co.—......100
Salem
A
Wakefield—See Eastern
setts Street
Salisbury
A
Railway Co
Spencer Ry.—See
Massachu¬
.
12
....
North
Utah..-......——/-.—
Salt Lake Terminal
Utah RR.
Go—See
Salt
Lake
San Antonio Gas A Electric—See San Antonio
Public Service Co.
i.————......
126
San Antonio Traction—See San Antonio Public
Service Co—
———:—...126
San Antonio Public Service Oo
:
126
San
Benito
Lt.
A
Pwr.
Co.—See
Coast
Counties Gas A El. Co...—
.....128
Bernardino Valley Trac. Co.—See
Elec. Ry
Pac.
San
68
San Diego Electric Ry
—126
San Diego A Southeastern Ry
146
Sandusky Norwalk A Mansfield Electric Ry— 97
Sandusky Fremont A Southern By....
33
Sandwich Windsor A Amherstberg Ry
42
Sanford A Cape Porpoise Ry.—See Atlantic
Shore Ry
'
62
San Francisco Electric Railways......
127
San Fran. Napa A Calistoga Ry—;—...
.128
Ban Francisco Oakland A San Jose Cons. Ry—
See San Fran.-Oakland Term. Rys........ 97
.
—
Railroads & Power Development Co
all way & Lt. Securities (Boston).....
—126
.146
Raleigh St. Ry.—See Carolina Power A Lt.Co.119
Rapid Transit St. Ry. of the City of NewarkSee Consol. Trac. Co
79
Reading City Passenger Ry.—See Reading Tr.120
Reading A Lowell—See Eastern Massachusetts
Street Ry. Co
—;
12
Reading A Southwestern Ry.—See Reading
Transit & Lt
Co
120
—...
...
—.—...
Reading A Temple Electric Ry.—See Reading
Traction
.—120
San Francisco-Oakland Term. Rys
San Francisco-Sacramento RR
97
98
....
San Francisco A San Mateo Electric—See
United RRs of San Francisco-.
..127
San Joaquin Light A Power Corporation.
47
San Jose A Alum Rock Ry.—See San Jose RRs 128
Jose-Los
Gatos
Interurban
Ry.—See
Reading Traction
:
120
Reading Transit A Light Co
120
Reading Wakef. A Lynn—See Eastern Massa¬
chusetts Street Ry. Co
12
Reading A Womelsdorf.—See Reading Transit
A Light Co
120
Redlands Central Ry.—See Pac. Elec. Ry..— 68
Badlands St. Ry.—See Pac. Elec. Ry
68
Reno (Nev.) Traction Co
.....146
Reoublic Ry. & Light Co.......
91
8an
Rhode Island Co
Rhode Island Suburban fiy_.
Richland Co.—See Richland P. S. Co..
Santiago (Cuba) Elec. Light A Traction Co.—146
Sao Paulo Electric Co.. Ltd
—144
Sao Paulo Tramway, Light A Power Co..—144
Bapulpa (Okla.) A Inter, Ry
—...——146
Saratoga Traction—See Hudson Valley Ry..
3
Richland Public Service Co
Richmond Light,
Heat A
United Gas & Electric Co
Richmond
Richmond
Richmond
Richmond
83
...
.
Power
84
95
95
—
Co.-See
92
:
432
Light A RR. Co—
Ry. A Elec.—See Va. Ry. A Power. 121
A Fairfield (Elec.) Ry.
146
A
—
Rappahannock River Ry....... 146
Ridge Avenue Passenger Ry_,
Rldgewood Gas Co
Rio de Janeiro Tramway Light A Power
—.106
....
78
144
Ritter8ville Hotel Co.—See Leh. Val. Tran.Co.
Riverside A Arlington Ry.—See Pac. Elec. Ry. 68
Riverside Traction..—.....
82
Roanoke Ry. A Electric—See Roan. Tr.ALt—103
...
Roanoke Traction A Light Co......
.....103
Rochester Charlotte A Manltou RR.—See
Rochester A Manltou RR
_123
Rochester City & Brighton—See N. Y. State
Rys
j...
...—.
—122
Rocheater-Cornlng-Elmira Traction Co
—146
Rochester Elec. Ry.—See N. Y. State Rys....122
Peninsular Ry__
128
—
San Jose Railroads
..128
San Jose A Santa Clara RR.—See San Jose
RRs
—:
128
San Jose Short Line Ry.—See San Fran.-Oak.
...
...
.
.
...
Terminal Rys_.
...;
97
San Jose Terminal Ry
.146
San Ramon Valley RR.—See San FranciscoSacramento RR—-———
98
—
.......
——
...129
Savannah Electric Oo
Savannah River Power Co.—See Georgia Ry.
A Power Co—...
6
——
Savannah Thunderbolt A Isle of Hope Ry.—
See Savannah Electric Co
...i
—129
Schenectady Ry
—
———...—...122
Schuylkill Electric Ry.—See East. Penn. Rys.118
Schuylkill Gas A Electric Co.—See Lehigh
-
....
...
—
Scranton Dunmore A Mo. Tk.—See Scranton
Rochester Ry.—See N. Y. State Rys
.122
Rochester A Sodus Bay Ry.—See N. Y. State
Scranton A Pitts ton Tr.—See Scranton
133
pire State Railroad Corporation
Rochester A Syracuse RR
—133
Bockford Beloit A Janesville RR,—See Union
Railway, Gas A Electric Co
Bockford City Traction Co
Bockford A Freeport Electric
...
50
—146
Ry.—See Union
Railway. Gas A Electric Co
;——
50
Bockford A Interurban Ry.—See Union Rail¬
way. Gas A Electric Co
50
Rock Island Southern Railroad—See Gales-
burg A Western RR........
74
Island
Southern
Railway—See Miss.
Valley Ry. A Power Co
„—
123
Rockland A Ablngton Street Railway—See
Eastern Massachusetts Street Ry. Co...
32
Rockland Thomaston A Camden Street Ry.
—See Knox County Electric Co.
—123
Rockport Street Ry.—See Eastern Massachu¬
setts Street Ry. Co——
12
Rockville Broad Brook A East Windsor St.
Ry.—See Hartford A Springfield St. Ry_—134
Bohrerstown Landisvilie A Mt. Joy Ry.—See
Lancaster County Ry. A Light Co—
65
Rome (Ga.) Railway A Light Co——.......123
Roxborough Chestnut Hill A Norrlstown Ry.121
Rutland City Elec. Co.—See Rutland By., Lt.
A Power Co
—...—124
Rutland Railway, Light A Power
124
Rutland St. Ry.—See Rutland By.. Lt. A P. Co. 124
....
...
Rock
——
—
.
Ry
-
.....
................
103
Ry.—103
Scranton A Wllkes-Barre Traction.—...
129
103
Sea Beach Ry.—See N. Y. Consol. RR——— 16
Sea Coast Traction—See Atlantic Coast Elec..
5
Seashore Electric Ry., Asbury Park—See At■*. "lantlc Coast
Electric Ry..—.....——
5
Scranton
Ry
——'—
—
Seattle Electric Co.—See Puget Sound Power
A Light CoJ—
—
129
Seattle-Everett Trac.
Power A Light Co.
Co.—See Puget Sound
.
129
—
Seattle Ry.—See Puget Sound Power A Lt. Co.129
Seattle A Rainier Valley Ry———————130
Sea View RR
84
Second Avenue RR. (New York)———... 88
Second Avenue Traction—See United Tractionlll
Second A Third Streets Passenger Ry
107
Sedalia Lt. A Trac. Co.—See City Lt. A Tr.Oo. 94
Selma Traction Go——..—.—.130
Seventeenth A Nineteenth Streets Pass. Ry—107
-
Seventeenth St. Incline Plane Co...........112
Shamokin A Mt. CarmelTransit Co.—...130
8haron Canton A Norwood Street
Ry—
146
Sharon A Newcastle Rys.—See Republic Rail¬
way A Light..
91
Shawnee-Tecumseh Traction Co
......130
Sheboygan Gas Light Oo.—See Wise. Sec. Co. 73
Sheboygan Electric Co.—See Eastern Wis¬
consin Electric Co
—130
Sheboygan Ry. A Elec.—See East. W. E. Co..130
Shelburne Falls A Colvain St. Ry......——.140
Shenandoah Traction Co....—......—.....146
Sherbrooke (Que.) Railway A Power...
143
Shore Lighting Oo
78
Shore Line Electric RR..
85
Shore Line Electric Ry. (Connecticut)
97
Shreveport Railways Co..
.....130
Sierra A San Francisco Power Co
—.—127
Sioux City Crystal Lake A Home Elec. Ry
146
Sioux City Service Oo
--..131
Sioux
City Traction—See Sioux City Ser. '
Co..
131
Sixth Avenue RR
88
—
Cacramento Northern RR
-—128
•^acramento Short Line Ry.—See San Fran.Oakland Terminal Rys
97
Sacramento Valley Electric RR
.——146
8&ginaw-Bay City Railway.....—-—..... 51
Saginaw Valley Traction—See Saginaw-Bay
City Railway
51
St. Albans A Swanton Trac. Co——
124
St. Charles Street RR.—See New OrLRys.Co. 85
St. Francois County Electric
.......
146
.
South Ferry—See Broadway A Seventh Ave..
88
South Jersey Gas, Electric A Traction.
78
South Morgantown (W. Va.) Trac. Co——146
South Orange A Maplewood Traction....... 79
....
South Shore A Boston St, Ry.—See Eastern
Massachusetts Street Ry. Co.————. 12
8outh Shore (L. I.) Traction Co..
.......146
South Side Elevated RR., Chicago—....... 29
South Side Gas Co...
113
South West Missouri Electric By.—See South
West Missouri RR
.138
South West Missouri Railroad...........—.138
Southeastern Ohio Ry. (Zanesville. Ohio)....146
Southern Boulevard RR.—Se^ Union Ry—89
Southern Canada Power Co.—See Sherbrooke
143
—
Southern Elec. Ry.—See Un. Rys. of St.
Southern Ht., Lt. A Power Co.—See
quesne
L...124
Du~
—113
Light Oo_,
Southern Illinois Ry. A Power Co.—See Cen¬
tral Illinois Public Service Co——— 71,
Southern Illinois A St. Louis Ry..146
Southern Light A Traction Co. (Natchez)—See
Southern Railway A Light Co—.—....... 76
Southern Michigan Ry————
—..*131
Southern New York Power A Railway Go——
Southern
Ohio
Traction.—See
36
A
Cincinnati
A Dayton Traction..
Southern Oregon Traction Co.
Southern Pennsylvania Traction
Southern Public Utilities Co.
30
.146
Co..—.*—104
25
—...—
76
Southern Railway A Light Co———
Southern Street Ry
27
Southern Traction Co. (Bowling Green, Ky.).146
Southern Traction (Dallas).—See Texas El.
Ry
—...
.........
38
———————
Southern Traction Co. of Illinois
.......146
Southern Traction—See Pittsburgh Rys.....110
Southern Traction A Power Go
146
Southwestern Interurban Ry
—146
Southwestern St. Ry.—See Phlla. Rys. Co...108
Southwestern (Tex.) Traction Co—
134
Traction-—See London A Lake
Erie Ry. A Transportation Co—..
...141
Spokane A Eastern Ry. A Power Co...131
Spokane A Inland Empire Ry.—See Spokane
A Eastern Ry. A Pow. Co,_
131
Spokane Terminal Co.—See Spokane A East¬
ern Ry. A Pow. Co.—
.........131
Spokane Traction Co.—See Spokane A East¬
ern Ry. A Power Co.———
...—131
Springfield A Central Illinois....
-.140
Springfield (111.) Consolidated Railway—See
Union Railway, Gas A Electric.........— 50
Springfield A East. St. Ry.—See Springfield
Street Railway—..
..*139
Springfield Electric Ry. (Vermont)-...——132
Springfield Light, Heat A Power Oo
—
50
Springfield A Northeastern Traction Co.—See
St. Louis Springfield A Peoria..—
24
Springfield (Ohio) Railway.................102
Springfield (III.) Railway A Light Co.—See
Union Railway. Gas A Electric..
60
Springfield Railway Companies.—See New
England Invest. Sec. Co
139
Springfield (Mo.) Railway A Light Co91
Springfield (Mass.) St. Ry.-^-See New Eng¬
land Invest. Sec. Co.........—..........139
Springfield (O.) Terminal Ry. A Power Co...132
Springfield (Mo.) Traction—See Springfield
Railway A Light Co
91
Springfield Troy A Piqua Ry.—See Springfield
Term. Ry. A Power Co.—————.132
Springfield A Xenia Railway..**—.———132
Stafford Spgs. St. Ry.—See Connecticut Oo— 82
Stamford Street RR.—See Connecticut Co— 82
Standard Gas A Elec. Co.—See "Ry. A Ind." Sect.
Stark Electric RR._——..*..——————.
4
Staten Island Midland Ry—....
—.—132
Steinway Ry.—See N. Y. A Queens Co Ry— 07
Sterling Gas A Electric Co.—See Illinois Nor¬
thern Utilities Co.———*..—*—, 42
Steub. East Liverp. A Beav. Vallay Trac.— 43
Steubenvllle Mingo A Ohio Valley TractionSee Steubenville A Wheeling Traction.....115
Steubenvllle A Wheeling Traction Co.—See
Wheeling Traction
.115
Stillwater A Mechanicvllle—See Hudson Val.
Southwestern
-
—....
—
..
—
•
Power Securities Corporation
3
Schuylkill Haven A Orwlgsburg St. Ry.—See
East. Penn. Rys.—...—
....
118
Schuylkill Ry. Co
48
Schuylkill Traction (Girardvllle, Pa.)—
49
Schuylkill Valley Traction...
120
Scioto Valley Traction Oo
36
Scran ton A Blnghamton RR.—See Scranton A
BInghamton Ry
9
Scranton A Blnghamton Ry
9
Scranton A Blnghamton Trac. Co.—See Scran¬
ton A Blnghamton RR......
9
Scranton A Oarb. Trac.—See Scranton Ry—103
Rochester A Manltou RR—
............123
Rochester Lockport A Buffalo Ry.....
....122
Rochester Ry. A Light—See N. Y. State Rys. 122
Rys
122
Rochester A Suburban Ry.—See N. Y. State
Rys...
122
Rochester Syracuse A Eastern RR.—See Em¬
A
14
27
South Carolina Llgdit, Power A Ry——
...131
South Covington A Oin. St. Ry.—See Cincinnati Newport A Covington Ry_——... 37
Lehigh Valley Transit Co.—.—........
South Brooklyn Ry.—See Brooklyn Rap. Tr.
South Chicago City Ry.—See Cal. ASo.Oh.Ry.
125
A
—125
78
78
_
Ry. A Power Oo
————————
.
Somervllle Horse RR.—See West End St* Ry- H
South
Bend A
South.
Michigan Ry.-—See
Southern Michigan Ry
—-131
South
Bethlehem
Electric Light 00.-—See
■
Oar.
Public Service Oo
54
Salt Lake A Og. Ry.—See Bamberger El. RR.125
Salt Lake A
Snyder Ave. St. Ry.—See Phiia. Rap. Tran..104
Somerset Lighting Co.—See Somerset Union
A Middlesex Lighting Co——
...
Somerset Union AMiddlesex Lighting Co—.
—...
—...
.......
....
Ry—.—.—....100
Slatington St. By.—See Lehigh Valley Tran..
4
Slate Belt Electric Street
...
...
.
Stockton"Electric
RR.——...—*—......-133
...149
Stockton Terminal A Eastern RR
Stroudsburg El. L. A P.—See Lehigh Power
Securities Corp....
3
Suburban Rapid Transit Co. (Winnipeg)—See
Winnipeg Electric Railway..........,....145
—
.
Suburban Rap. Tran. St. Ry., Pittsburgh, Pa.112
Suffolk Syndicate—See Suffolk Traction Co.. 100
Suffolk Traction Co
...100
—
Sunbury A Susquehanna Ry
146
Susquehanna Ry., Lt. A Power Co.—See
United Gas A Electric Corp.............. 92
Sutro RR.—See United RR or San Francisco.. 127
flutter St.Ry.—See United RR.of San Francisco 127
Swansea A Seekonk Street Ry—
.133
Sydney A Glace Bay
Breton Electric Co
Ry .Co.—See Cape
—.143
.....
Syracuse Lake Shore A Nor. RR.—See Em¬
pire State Railroad Corporation..........133
'Syracuse Northern Elec. Ry
133
Syracuse Rap. Tran. Ry.—SeeN.Y.StateRys.122
Syracuse A Suburban RR..................134
...
Tacoma Ry, A Pwr.—See Puget Sound——129
Power
A Lt. Co.
Tama A Toledo
Ry, Co.—See Iowa Ry. A Lt. 21
Tampa Electric Co.—--.
—134
Tamaqua A Potttville Electric RR.—See East.
Peon. Rye
118
Tarrant County Traction Co.—See Northern
Texas Electric Co
40
Terrytown White Plains A Mamaroneck Ry.—
See Shore Line Electric RR.—........... 85
Taunton A Brockton Street Railway.—See
Eastern Massachusetts Street Ry. Oo.—... 12
Taunton Street Ry.—See Eastern Massachu- •
setts Street Ry. Co.———.——————-- 12
Taylor Avenue Railroad.—See United Rys.
....
—.
of St. L———
124
Templeton St. By.—See Nor. Mass. St. By.. 54
Tennessee Power Co..,.———7o
-
Haute
Traction A
Terre Haute Indianapolis
United St. Ry. of
58
United Traction (Albany)
United Trac. 8c Elec
58
68
United Traction (Pittsburgh)
United Traction (Reading, Pa.)—See
Railway..
A Eastern Traction
Co
Light Co..
A Western Ry. Co.—See Terre
Haute Traction A Light
58
Texas Traction Co.—See Texas Electric Ry- 38
Texas Electric Railway
38
Third Avenue Ry. (N. Y.)
88
Thirteenth A Fifteenth Streets Passenger Ry-107
Terre Haute Traction A
Terre Haute
88
Thirty-fourth Street Cross town Ry
Tidewater Power Co
Tidewater Southern
139
.
.——133
146
146
Railway
Ry
Tiffin Fostoria & Eastern
Titusville Traction Co
Toledo Bowling Green A Southern Traction—134
Tol. Fayette A Western.—See Toledo Trac..
Light A Power
95
Toledo A Findlay St. Ry.—See Toledo Bowl¬
ing Green A Southern
134
Toledo Fostoria A Findlay
134
Toledo Fremont A Norwalk Street Ry.—See
Lake Shore Electric
33
Toledo Gas Elec. A Heat. Co.—See Toledo
Trac. Lt. A Pow. Co
95
Toledo Gas Light & Coke Co.—See Toledo
West Shore
Cent. N. j.—See Pub. Ser.
75
Terre Haute
Electric Oo.—See
Light
78
2
—
——
84
——————
Transit A Light Co
United Traction St. RR.
111
Reading
120
-
Co.—See Du Bois
8c Northern Ry.—See
Indiana Columbus & Eastern
35
Urbana 8c Champaign Ry. Gas 8c Elec. Co
23
Bellefontaine
23
125
Lt. A Trac—125
—————.125
Urbana Lt., Heat k Power Co
Utah-Idaho Central RR
Utah Light 8c Ry. Co.—See Utah
Utah Light 8c Traction
Utah Power k Light
125
Utica Belt Line Street RR.-—-See N. Y. State
122
Rys
Utlca
8c
Mohawk
Valley
——
Y.
N.
Ry.—See
8tate Rys
122
93
-
Utilities Oil A Refining Oo
Oxbridge A Blackstone St. Ry.—See
England Invest. & Sec. Co..
135
& Indiana RR. Co..
Toledo Trac¬
Toledo Heat & Light Co.—See
95
tion. Light A Power Co
—
Toledo & Maumeo Valley Ry.—See Maumee
Ry
95
Toledo Port Clinton A Lakeside Ry. Co.—See
Northwestern Ohio Ry. A Power Co
116
Toledo Railways A Light Co.—See Toledo
Traction, Light & Power Co
95
Toledo Traction, Light A Power
95
Tol. A Western Ry.—See Tol. T., L. A P. Co_ 95
Tonawanda Electric RR.—See Internat. Trac. 18
Tonawanda St. RR.—See International Trac. 18
Toledo Ottawa Beach A Nor.
Topeka Edteon Oo.—See Topeka Ry. A Lt.Co. 24
Topeka Railway
—24
Topeka R dlway A Light Co
24
Co—144
143
144
Toronto Power Oo
(Canada)
143
Torrington A Win. St. Ry.—See Conn. Co
82
Transit Development Co.—See Brooklyn Rap¬
id Transit Co
Trappe A Limerick Electric.
Trenton Bristol & Philadelphia Street Ry
Trenton City Bridge Co.—See New Jersey
Pennsylvania Traction Co
Trenton
Gas
14
-
146
121
108
Trans-St. Mary's Traction Co
A Elect.—See So.
Traction--
A
135
Jersey Gas,
78
Ewing—See Trenton St. Ry.135
Trenton A New Brunswick RR.—See Eliza¬
beth A Trenton RR
82
Trenton Lakewood A Seacoast Ry—...
146
Trenton A Mercer Co. Trac. Corp
135
Trenton Pennington 8c Hopewell Street Ry.—
See Trenton Street Ry
135
Trenton (N. J.) Street Ry
.
—-135
Tri-OIty Ry.—See Tri-City Ry. A Lt. Co—- 52
Tri-City Railway 8c Light Co..
52
Trinidad (Port of Spain) El. Co., Ltd
146
Trinidad Elec. Transm. Ry. 8c Gas
91
Troy City Ry.—See United Trac. (Albany)
2
Troy Hill Pass. Ry.—See Fed. St. A P. Valley
P. Ry
Ill
Troy 8c New England Ry__
135
Tucson Rap. Tr.—See Fed. Lt. & Trac
89
Tuscaloosa Railway 8c Utilities Co
—135
Tuscarawas Trac. Oo.—See Can.-Ak. Cons.
By
2
Twenty-Second St. 8c All. Ave. Pass. Ry
105
Twenty-eighth & Twenty-ninth Streets Crosstown RR. (N. Y.)—See Mid-Crosstown Ry. 89
Twenty-third Ave. El. Ry.—See San Fran.Oakland Term. Ry
97
Twenty-third Street Ry
-----88
Twin City Light & Traction Co
146
Electric A
Trenton Ham. A
—
—
-----
-
——
-
—
Twin
Twin
City Rapid Transit
Falls (Idaho) Ry__
74
146
—
Twin State Gas 8c Electric Co
13
—-
Tyler City Light 8c Ry
Vermont
Co..—-------—-—.-135
Vln. Trac
135
Virginia Passenger k Power Co.—See Virginia
Vincennes Traction
tvfabash
''
River
Service
Traction
—...—...—121
121
Co.—See Indiana
46
Corp
Wakefield 8c Stoneham St.
Ry —See Eastern
12
Massachusetts Ry. Co
Walden k Orange
Lake.—See Orange County
Traction
96
72
136
—
—----—
WalkiU Transit Co
Ry
Mt. Vernon
146
Alexandria k
Ry.—See
Wasnlngton-Virginia Ry
137
Arlington & Falls Church Ry.—See
Washington-Virginia Ry.
137
Washington Baltimore k Annapolis Electric
RR.?
137
Washington k Oanonsburg Railway Oo—
111
Washington Electric Ry
146
Washington
(D.
C.)
Interurban Ry.—See
Washington Ry. k Electric
136
Washington
Elec.
St. Ry.—See Wash.
A
Wash.
Wash.
-
111
Canonsburg Ry
Washington 8c
ton Railway
Washington &
Washington 8c
Washington &
Glen Echo RR.—See Washing¬
A; Electric
-.136
Great Fails Ry. k Power Co—146
Maryland Ry
137
Old Dominion
,137
Wash. 8c Rock. Ry.—See Wash. Ry. k Elec.—136
Washington Railway 8c Electric Co
136
Washington Spa Springs A Gretta RR
146
Washington Utilities Oo
137
Wash.-Virginia Ry. Co..—
137
Washington Water Power, Spokane—
.
131
Washington Westminster A Gettysburg RR—146
Wash. Woodside A Forest Glen Ry. A Power
Co.—See Washington Railway A Electric...136
Waterbury Light A Pow. Co.—See Montpelier
A Barre Light A Power Co
8
Falls & Northern Railway—137
Watertown Gas A Electric Co.—See Wise. Gas
Waterloo Cedar
A
73
138
Electric Co
Waterville Fairfield A Oakland Ry
Waterville A Oakland St. Ry.—See Waterville
Fairfield A Oakland Ry
138
Watervllet Turnpike A Railroad.—See United
Traction
2
146
(Albany)
Traction.-
Waukegan Rockford A Elgin
Waverly Sayre A Athens Trac. Co
146
Waycross (Ga.) Street A Suburban Ry
146
Webb City Northern Electric Ry.—See South¬
west Missouri RR_.
138
A Dudley.—See New' England In¬
vest. A Sec. Co
139
Weehawken Contracting Co
^
77
Westchester Electric.—See Union Ry., N. Y._ 89
West Chester Kennett A Wilmington Elec. Ry. 63
Webster
—
Union Consolidated Elevated Ry., Mo.)—See 30
Chicago._
nion
Depot RR. (St.
Louis,
United Railways Co
Union Electric Co.—See Dubuque Elec. Co
Union Elev. RR.—See Northwestern Elev
Union Gas A Electric
-
124
42
Westchester Street
93
West
Union Gas Co. (McKeesport)—SeePhila. Co. 109
Union Light, Heat A Power Co.—See Cin¬
cinnati
Newport & Covington
37
—
Union Loop—See Union Elevated RR_Union Passenger Railway-Union Ry., Gas & Elec
29
107
—
50
Ry. of New York
89
Ry.—See Wilmington A Chester Trac
103
Street Ry. (New Bedford, Mass.)
82
Traction Oo. (Oorreyville. Kan.)—— 33
Traction Co. (Nashville, Tenn.)
76
Trac. Oo.—See Coast Counties G.AEl-128
-
Union
Union
Union
Union
Union
Union
Union Traction Oo. of Indiana
5
—-
Union Traction (Philadelphia. Pa.)
105
Union Utilities Co.—See West Va. Utilities Co.120
United Electric Co. of N. J
77
United Gas 8c Elec. Oo.—See Twin State Gas
8c
Electric Oo
United
Gas
8c
13
Elec.
Oo.—See
Louisville
8c
North. Ry. & Light Co
United Gas 8c Electric Co. (New Jersey)
United Gas 8c Electric Corporation
69
92
92
51
United Lt. k Rys. (Grand Rapids) (with map)
National Utilities Co
101
United
United
Power 8c
United
Railroads of San Francisco
107
127
United Rys. & El. Co. of Balto
7
United Rys. Investment Co. (San Francisco)-.126
United Railways Co. (St. Louis)
.124
Transportation
West Chester Street
29
-
——-
—
138
Ry
RR
85
!
Passengoff Ry.—See Frankford A
Southwark Phil a.'City Passenger Ry
—106
End
West End
Whatcom
Rapid Transit Oo.—See Cincinnati
Laurenceburg A-Aurora Electric Street Ry..
30
(Boston)
11
Ry.—See L^pc. Co. Ry. A Lt
65
West
End
Traction,
Pittsburgh, Pa.—See
Pittsburgh Railways Co
110
Western Light A Power Co.
96
Western Mass. Street Ry.—See New Eng.
Invest. A Sec. Co
.139
Western New York A Pennsylvania Trac. Co. 99
Western port
A Lonaconing—See Cumb. A
Westernport Electric Ry
95
Western Ohio Railroad
66
Western Ohio Railway.—See West. Ohio RR
66
Western Railways A Light Oo.—See Illinois
Traction Co
21
West End Street Ry.
Puget
129
Trac. Co.115
Wheeling
120
Lt.—See
A
County
Ry.
& Lt. Co
Sound Pow.
Wheeling Bridge Co.—See Wheeling
Wheeling A Elm Grove RR.—See
Public Service Co
Wheeling Public Service Co
120
Wheeling (W. Va.) Traction Co
—
115
Wheeling A Western Ry.—See Wheel. Trac—115
Wichita RR. A Light
.
24
Wichita-Walnut Valley Interurban Ry—
146
Wilkes-Barre Co.—See United Gas A Elec— 92
Wilkes-Barre Dallas A Harvey's Lake Ry
138
Wilkes Barre A East Side Ry.—See WilkesBarre Rys.
Co
138
Wllkes-Barre Gas A Elec. Co.—See United Gas
-
92
57
57
—
Railway
Wilkes-Barre & Suburban—See
VIncennes Trac. k Lt. Co.—See
West
120
A Electric
Company—See Berkeshlre St. Ry— 84
Power A Lighting Co.—See Mont-
Railway k Power
Virginia Railway A Power
Trac. A Elec. Co.—See
Virginia Utilities Co
West Virginia Utilities Co™--------------120
West Water St. RR.—See Elmira Wat.,Lt.ARR44
Wllkes-Barre A Hazleton
pelier k Barre Light & Power Co.-———
8
Vicksburg Light k Traction Co-----135
VIncennes Citizens St. Ry.—See Vln. Trac——135
44
-
146
-
Light A
-
West Virginia
83
.—————
139
Warren k Jamestown St.
Ry.
Toronto & York Radial Ry.—See Toronto
St. Ry
Railway--
Side RR.—See Elmira Water,
RR
New
alley Electric Co.—See Duquesne Light Co.il3
Valley Railways
55
Valley Street Ry.—See Rep. Ry. k Lt
91
Valley Traction Co.—8ee Valley Railways—- 55
Valparaiso k Northern Ry.—See Gary k Val¬
paraiso RR
-— - - - —--48
Van Brunt Street k Erie Basin RR———— 17
Vermont
95
Valley Rys. A Lt
Toronto Elec. Lt.—See Toronto Power
Toronto (Canada) Railway
Valdosta (Ga.
v
West
42
Elec. 8c Trac. Co
Urbana
.
Traction, Light A Power Co
—
95
Toledo A Indiana Railroad
135
Toledo & Indiana Traction Co.—See Toledo
Paoc-
Page.
Fao«•
Tennessee Railway, Light A Power—
Terre
[Vol. 111.
INDEX TO RAILWAYS
162
Wllkes-Barre A Hazleton RR
&
Wilkes-Barre
138
Wyoming Valley Traction
—138
-57
Traction
138
Wllkinsburg A East Pittsburgh St. Ry.—See
Monongahela Street Ry. Co—
—-—112
Wllkinsburg
A
Verona
Street
Ry.—See
Monongahela Street Ry. Co
112
Willamette Falls Electric Ry.—See Portland
Wilkes-Barre Railways Co
Wllkes-Barre Terminal RR
Wilkes-Barre A Wyoming Valley
Light A
Ry.,
——.—117
Port¬
Power
Willamette Valley Southern Ry.—See
land Railway. Light A Power
117
WilHamsport
Gas Co.—See Lehigh Power
Securities Corporation
3
WlHapa Electric Co
146
WlUimantic Traction Co.—See Conn. Co
82
Wilmington (Del.) City Ry.—See Wilmington
103
104
A Chester Traction
Wilmington City Electric Co
Wilmington A Chester Traction Co
Wilmington A Edgemore—See Wilm.
103
A Ches¬
103
ter Traction
Wilmington Newcastle A Delaware City—See
Wilmington A Philadelphia Traction Co
103
Wilmington A Philadelphia Traction
103
Wilmington Southern Traction Co.—See Wilmington A Philadelphia Traction Oo—-—103
Winchester Ave. Ry.—See Conn. Co
82
Windsor Locks Traction Co.—See Hartford
A Springfield Street Ry
134
Windsor A Tecum. Elec. Ry.—See San. Win.
A Amh. Ry
42
Winnipeg Electric Ry
145
Winnipeg Selkirk A Lake Winnipeg Ry.
See
Winnipeg Electric Ry
145
Winnipeg Electric Street Ry.—See Winnipeg
Electric Railway
—
145
Winnisimmet RR
13
Winona (Minn.) Ry. A Light Co.—See Wis¬
consin Ry., Light A Power Co
64
.
136
Interurban
Winona
Winona A Warsaw Ry.—See Winona Inter..136
Winston-Salem Power Co.—Sej So. Pub. Utili¬
ties Co
-
Wisconsin
Edison Co
Wisconsin
Electric
-
...
Wisconsin Electric Power Co.—See
Electric Ry. & Light Co...
72
Eastern
Ry.—See
25
72
Milwaukee
Wis¬
130
Wisconsin Gas A Electric
73
Wisconsin Interurban Ry
146
Wisconsin-Minnesota Light A Power Co
64
Wisconsin Public Service Oo
52
Wisconsin Railway, Light A Power Co
64
Wisconsin Securities Oo
73
Wisconsin Traction Light Heat A Power..... 73
Wisconsin Valley Electric Oo
138
Woburn A Reading—See Eastern Massachu¬
consin
Electric Co
....
...
-
setts
Ry.Co
Blackstone Valley St. Ry.—See
12
Worcester A
A Sec. Co
139
Worcester A Clinton St. Ry.—See New Eng.
Invest. A Sec. Co
139
Worcester A Conn. East. Ry.—See Shore Line
Electric
97
Worcester Consolidated Street Ry.—See New
Eng. Invest. A Sec. Co
139
Worcester A Holden St. Ry.—See New Eng.
Invest. A Sec. Co
139
Worcester
A Marlborough Street Ry.—See
New Eng. Invest. A Sec. Co.
139
Worcester A Southbridge St. Ry.—See New
Eng. Invest. A Sec. Co
139
Worcester A Webster Street Ry.—See New
Eng. Invest. A Sec. Co
139
Woronoco St. Ry.—See New Eng. Invest. A
Sec. Co
139
Wyandotte A Detroit River Ry.—See Detroit
United
Railway
41
New England Invest
-
West End St.
Y&dkin River Power Co..
*
onkers
-
—
West India
141
Electric Co
West Liberty A Suburban St.—See Pitts. Rys.H0
West Liberty Street Ry.—See Pittsb. A Birm.
111
Traction Co
Westmoreland
County Ry———
39
RR
County
-
Power
—119
89
.
Co.—See
Cumberland
County Power A Light Co
—116
York Lt- A Ht. Co.—See Cumberland County
116
140
65
Power A Light Co
Railways
Youngs town A Ohio River RR
York
Youngstown Park A Fails Street Ry.—See
Republic Ry. A Light Oo
.
91
Youngstown-Sharon Ry. A Light —See Re¬
public Ry. A Light Oo
91
Youngstown A Southern Ry.—See Youngs¬
town A Suburban Ry
—...—140
Youngstown A Suburban Ry
—..140
Ypsilantl A Saline Ry.—See Det. Jack. A
Chic.
42
.
115
West Penn Power Co
West Penn Railways CoWest Penn Traction—See West Penn
York
—
.
113
Rys.—113
West Penn Traction & Water Power Co
West Philadelphia Passenger Railway
-
113
West Roxbury A Roslindale Street Ry.—See
Eastern Massachusetts Street Ry. Co
107
12
fTanesville Electric
L
A Zanesvilla
Zanesville
Co.—See
Col.
Newark
35
Electric Ry.—See Col. Newark k
35
Zanesville
Zanesville Ry. Light A
Newark A Zanesville
Power Co.—See Ool.
35
i C!-.88;
ai .
S
,^... ' " ’ '‘*f
.
i, P i1:.
^
!
'
&■
w
•
t
< PM (o l s g ?.;ml i i | | | i j g i
*«
*i
t8,i5\;.‘ ’‘ iffiw:^i-v^SS'.v»v^:v^"i'VVv'
88 !ifj:
'•:'
'■
-0.£:;:.'v,'v .jv:)'.‘‘:>- '1; . ; ) : - * -r'’ .*)■ 8
' V‘^
IS1
?
^ ?■'
■
IS
mmmmssmam^
'M y%i
/
,5\ “'- ,*
, Ki
'
,
'*
I f
p
■
1
Wm0^%S0i0WBS^
iiliiiffS ii
il
ppp:
::,.;3 ';.:w- .?**?<•: ‘ .pH:
s
M
$§
PPPpalf;
is iiia s p
a
■ /vr^
a1
* &
SSSSi
V;
•
'
\v»> !v ^ ‘!
*
•;
*■
SM k
P:
m
= P 1 * ««® I
i
S » l i it *
S «»ai *
"iM ® # » i *
i
.» *fV ;s
V
S
M*I
iiArv^
,V ..^, ^v ;^ :f
«;•■ ' ' •^■j' ; ,| '
:''‘
* = v^:t -"'S':
S
v
'■ s ; '' '■ - ' ■ ‘
x
’■
§m
0
p|II^S:
p;
v
.
‘ '>v ’':;■'■■ v>'
■
t';?
i
■ r
H
'-& v
^
iiiiiiiiiilig iiii
i l f i gi i l t
ii fi ilii e
«.*«»
■
Bl i l si l
iili il
P M1
I I I
;#
r|
(> y
*j
m
-r t s s is iifft e i
§R
W rm
'W M
t
\''>£■$£’■* ■ ‘r
: ■■'J
M
l
^ -tv 'r;,;-;":.^ v''v'i:^^:.' ■y-V'-.\
'
p s :a s ®iTiji'ili)j^i»i^{%tj^«jjgj^ -|
am' s ! SiijW
t
:
l S W ' I S ! pi I ?« B ! P I
i i I IS P
I
:
a i I «l S
f i P I P l i i I PH?-: .liigil l W' i i l
Pi l i i l i S I
i .
i ii P l l
Wm
fc!**.' ^ i*l|
■ i| *
i
.. ^
. ‘
-^ii-;> =r:
‘
,v>
av
00.'0'i,
•i
1
■
m
:
i^5
■»*S6y
coi
:r
v...;sa;pa
:y .s^ v;
h*M
7 -"'i'<
U f:
$m
:
y p ?S':
| :;aV
^p
p&
;<
■
mm-zm
>M
W
0M 3i
0 M 0 0 : 0 -M :m
0
\t
£
'000
il l i S S ;» i i
'mmi’ : : ■■* •
*
.
3M
?
i!
''8
■ ’
>
■ 1 P P U ' ....
$ 0 i-a '-tf! a
P
:4,?p
.' 'v*:X 3y^E P :
air?$Si*j8»%,v
.
;p:.:-p
y
j.p ^‘- ;:-s^*^- ' - : '4v,v-<
^.;‘ >Mpv? v
; .
<> ’,'
.
-Z•V ^ - / V7;:V i;-'>
^
V
;
> - f.ap■ y a::^^
:P 1a■ :orP ■
a
.
^-P.': - -•®.*0.-^
®v ( A
:
•
*
'
'*%rr:p;
.
v?■■: . p•
-a*-^v-p P*
a''s^ -^j
g p :p y ;
?p'.
;-He
'f
N O V YORK
■ ■ >-,'58??
\- ? s :
S
papfifPlp
llil
fililSiiflll^
w » il
r£ ::'k
r
w
m
Wmm
^»P
>>':&mm*<-. ■:>■v .s '? - - ^ .!! Vfe..---/ ' ‘ '''
-•
v'*^v:i;; t + : ,
>
«
.
.
€
r' ;
- b~;%^ ; 4 / ,;/®£
f l ® ®
w‘
il
l
®
. v .tf-5 * : ® V
\|
^
I
I
B iS lI W ii^ W i^ ^ ^ w iS I l
'Vl'
^
: smMmm^
0
11
1*
&
*
"€
:
'
:^ i0: 0t
0
- r.v rv ’*'' ' ' ‘ mvW
.;-- .f^v-''
m
K«
m
m
1 irt
i?
i
J.
#.
,
gg®si
W
i
i
iif
iil
II
I
i'ii'Wy$-*x
M l*
M?ly
iS r tiS IS W iK g is S fc :
Ml
i
TToroa •:,i:>
:i .« l| f# § ? ■C i'~ L'
" iS -S’
'
,lfam
**ifc,H
«fr.
L ~
1
c#«i
?;; •vj.;- -V* , ^ v ; /
.^ ^ p i i i W I E i i W l l I S l i i W I
•
•
''
*
-?'•
f;:'
'■-- ,'-I -v'•iw -li:^ i
® ® iv ■ ® ! O'
!£ ;v?<m■
:.> .■;- :
:
V■:':-':,:-i'"?H ■ \
v.■1 '- ? !'^"';..’v:
■
-
Citr Light A Traction Co-f 8«dWi*, Mo.,
l;’^ # g ^ i i ^ l : f - « t « Co., iuwiUo, TetM.
?$v'V
©ts i
ia l'll
;
ws
i
§M
I
5
'
*Tl i
W O ' J f ' l l $^ r-'
W>
'..£
fr*
' ^
Bi i ......
i®&
r
0 *w V’Tick C®-> PWka*Mti». *»•. with 6 sub*
g
f
■I f n
i h
l .
, { i , , (>
:' f
t- ,t-f-
.
'M .
_____
m*v-fi
m
,,.. ,.
:iiV
ii'
S o u t h w < ^ t^ M o b M a a C « « * F u « l(^ W | M « r i
. , , | i p | | | p p j | p ^ ; ' e ; :.S::Si^
P«w #r C ^ . Diflott. Cola.
’:.i.;S
• 1:?
;-?Wf'
-l
,'i ••
■■
•
..,.
,C
ote.
sV'li^-'S-^v1
.....
■ 5, !
»S
Tol<
pS
l i
tf. PI i
ifttS fl
,iC Sl'
: eM
.1 yJ
1
«
. -; ’
t . .......... , . ^
I
S
To
i ,,..1
..,..:,
: S! ^
' ?*
#
„ „ . , i:„ , , „ , ,
' ‘’te
P
I
if
\.V
.
.
'.;.-r.'i-. |,T ww-.«yr: ..-.,-nr:y-TMt--.».«:- 1
.V
r*-f.vV~ 7:t^
-
;'1 ■ " .!)"“,®'
'"I, .?!-' V .-
■mm-M M V im w m m m ;:?:............ ....... ..............
CoPf#';
Ip
j
-;V
7
ill.®
'■]
llll
i i
J f c i P i l S 8* * "
S
i
i i , :-'l' ''ll
#c
f i
- ;S 1
® >
,
»fW.
.
PPI®iSS#ilfili
«;r
@FedFRASER