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ZD
nlicstors’ Äuplcnicnt
OF THE
C
o m m e r c ia l
& F
in a n c ia l
C
h r o n ic l e .
[Entered according to act oi Congress, in the year 1887, by Wm. B. Dana & Co„ In the office of the Librarian of Congress, Washington, D. C.]
YOL.
45.
NEW
IN VESTO RS’
YORK,
SEPTEMBER
SUPPLEMENT.
1887.
N E W RA ILR O A D
TERM S:
The Supplement is published on the last Saturday of every other
month—viz., January, March, May, July, September and November;
and one copy of each issue is furnished, without extra charge, to ali
regular subscribers of the Com m ercial and F inancial Chronicle .
Additional copies of any issue are sold to subscribers at 50 cents each
and to persons not subscribers at $ l each. No subscriptions are taken
for the I nvestors ’ Supplement apart from the Chronicle Annual
subscription price to the Ch ronicle , including the I nvestors ’ Supple
ment , is $10 20.
W IL L IA M
24,
CONSTRUCTION.
Hardly any feature of the railroad situation possesses
so much interest at the present time as the immense
amount of new mileage which is being added to the rail
road system of the country.
W e have frequently pointed
out how the effects of this are felt in every department of
trade and industry.
A s a stimulating agency, the iron
R . D A N A & C O ., .P u b lis h e rs ,
102 William, Street, New York.
and steel trades and allied branches, being so directly
RAILR OAD M APS IN TH E SUPPLEMENT.
reflect most the presence of that influence; but in number
T h e r a ilro a d m a p s
n ow
p u b lis h e d in th e S u p p l e m e n t
less different ways, direct and indirect, all the channels of
business feel the quickening effects.
in c lu d e th e fo llo w in g roa d s.
Ma p ,
connected with the work of railroad building, of course
page
Production and con
sumption are increased ; a greater interchange of com
Alabama Great Southern. See Cincinnati N. O. & T. P ...............
3«
Atchison Topeka & Santa Fe............. .............................................'u 'Y 15 modities takes place ; new mines and factories are started
Atlantio & Pacific. See Atchison Topeka & Santa Fe............ ........ 15
Baltimore & Ohio........................................................................
47 up ; there is an increased demand for labor ; the furnace,
Buflalo Rochester & Pittsburg.......................... " . " . I " . .................... 21
Canadian P a cific...........................
23 the mill, the factory, all enlarge their output ; the
California southern. See Atchison Topeka & Santa*Fe". . . " 1 5
merchant handles a larger volume of goods ; all these act
Central RR. «feBauking Co. of Georgia........................................24
Central RR. of New Jersey..........................................................................26
Central Pacific. See Southern Pacific.......................
103 and re-act on each other till the whole internal trade of
Charleston Cincinnati & Chicago.......................... v * * I . . I *. 28
Chesapeake & Ohio. See Newport News & Mississippi Y a i l e y ! 76 the country is placed on a plane of greater activity; and
Chesapeake Ohio «fe Southwestern. See Newport News <fe Miss. Val 76
Chicago Milwaukee <fe St. Paul..........................................................
31 even the external trade is enlarged, especially when, as in
Chicago <& Northwestern......................... . ......................................... 33
Chicago St. Louis <fe Pittsburg. See Pe tin. RR *1? ; /*;•:; .’ * ' ’ * 88 the present case, the prevailing activity leads to a heavy
Chicago St. Paul Minn. <fc Omaha. See Chicago <&Northwestern....... 33 demand for foreign goods.
Cincinnati Indianapolis St. Louis «fe Chicago......................................... 36
Cincinnati New Orleans <&Texas Pacific .......................... ".'.'v.'..!!!!! 38
But at present it is our purpose rather to note the extent
Cincinnati Washington <fe Balt. See Baltimore <fe Ohio....
17
Colorado Midland..........................................................................
40 of the new mileage, and its distribution among the differ
Delaware Lackawanna <&Western
.................................................... 42
Denver <fc Rio Grande................................ .
. . . ................ 44 ent States and territories.
That the new work is being
Detroit Bay City <fc A lp en a ......................................................
45
Duluth south Shore <&Atlantic..................
*................................. 47 prosecuted with unexampled vigor, readers of the C h r o n ic l e
Dubuque <&Sioux City. See lllinois:Centrai.'.'.'.’ V .*......." ................... 53
Elfzaoeth. Lexington <fcBig Sandy. See Newport News <&Miss. Val.. 76 of course know. A n illustration of the rapidity with which
Fort Worth <&Denver City............................. ......................................... 49
Galveston Harrisburg <&San Antonio. See Southern Pacific............. 103 it is being carried on was given a few weeks since in our
Grand Rapids <fe Indiana. See Pennsylvania R R ...........................
88
G ilf Colorado & Santa F e ..................... .... ..................
"
............. . 52 review of the annual statement of the St. Paul Minne
Houston <fe Texas Central. See Southern Pacific . . .
....................1<>3
apolis & Manitoba. That road recently reported the laying
Illinois C entral........ ................................................... '
- ...............53
International «&Great Northern. See Missouri Pacific
71
Jacksonville Tampa <& Key West...... .
'
............
55 of no less than eight miles of track on one day— this by one
Kentucky Central. See Newport News & MisV. V
a l l e y 76 single company.
Lake Erie «fe Western..................................
59
Louisville <& Nishville............. -I.*.*."I"."*."."” " " " * ................. ............... «1
A s showing how heavy new railroad construction now
Louisville New Albany <fe Chicago.
"" ■■■**■■■**"
Louisville New Orleans <fe Texas.
65
is,
we have the figures of track-laying recently issued by
Memphis <&Charleston. See Rulimond & West Point Terminal....... 93
Milwaukee <& Northern...........................
t,7 the Railway A g e of Chicago for the eight months from
Minnesota «&Northwestern.......... 69
Missouri Kansas <fe Texas. See Missouri Paciflo
....................... 71 January 1 to September 1. According to the Age, 6,462
Missouri Pacific..............................
71
Mobile <& Ohio.....................................................
73 miles of new track were laid during the period mentioned.
Nashville Chattanooga «fe St. Louis. See LÖiüsvUle*<& N a s h v i i i e 61
Newport News <& Miss. Valley.................................... .
76 In the six months to the 1st of July the records showed
New York Ontario <fe Western.......
"
..........
.................. 79
Norfolk <&Western..................
.......... .........*..................................... go only 3,754 miles laid, so that in the last two months
Northern Central. See Penn. RR. J” .................................................... 88
Northern Pacific.................
82 over 2,700 miles of new road were constructed.
Mr.
Ohio River.......................... *.*"*.......... ..................................................... 04
Orange Belt....... •••".Y.'.'.Y.Y.Y.V.Y.’.Y.Y.Y.'.'.Y.......................................... 86 Poor, in his Manual, states that about three-fourths of the
Oregon Short Line. See Union P a e i f l o . . ..............
109
F6iiR^lys,iii^ .....................
" ..........................
go 9,000 miles of road built in 1886 ,were constructed in the
PMlacfelpMa«&Erie. See Penn' r
r
.....................................
88
9Jev?land * Toledo. See Baltimore'& ' Ö M Ö Y . ' . Y . 17 last half of the year, so that the work then must have
gttsburg ( incinnati <feSt. Louis. See Penn. R R .................................. 88
Piiwm»rg F w Wayne & CMca€°- See Penn. R R .......... ....................... 88 been going on at the rate of about 1,125 miles a month.
SA ^ st<F£-. See Baltimore «fe Ohio......................................... 17 For July and August, according to the A g e ’s totals,
Richmond & West Point Terminal__.. .
93
Rome Watertown Ordensburg.............
............ .............*......... 94
Shenandoah Valley. See Norfolk <&Western .........................II I’ ll! 80 construction the present year was at the rate of 1,354
Bt. Louis <feSan Francisco.....................
97
St. Louis Arkansas <fe Texas........ .... ............. ............................... ......... qg miles a month, being 229 miles a month heavier even than
gf* ^ u l Minneapolis <&Manitoba
99 the average per month the last half of 1886.
Soutoem PaefS™ 8.11.3.“ ° ° al Iron & Railway C o m p ly i II! i 11!! I. i i .’ X01
It is almost needless to say that in only one previous
Toledo Ann Arbor & North Mich
............................... ...... " ............705
Toledo St. Louis <fe Kansas City.... ..................................................... 107 year was a greater amount of new track laid in the
Texas <&Pacific. See Missouri Pacific.................................................... 71
UnionPacifle..........................................
109 first eight months than in 1887.
The exception is the
Wisconsin O e n t e a f^
®inn-^NewÖrieäns& TexasPaciflo**11-- 38
year 1882 when the total for the period in question was
1NVEST0KS’ SUPPLEMENT.
a
7,000
miles (against 6,462 miles now), and for the full
year reached 11,568 miles.
for the twelve months of
The Railway A g e thinks that
1887 the aggregate will come
close to, if it does not exceed, 12,000 miles.
The Chicago
* [V ol. XLV.
mile, with a provision for further amounts in certain con
tingencies, such as the laying of second track, which provision, however, may be regarded as inoperative.
The
Chicago Burlington & Quincy Nebraska extension 4 per
&, Northwestern and one or two other large companies cents are also at the rate of $20,000 per mile, with the
have recently resolved, it is reported, that when present right to issue $10,000 additional should the company at
extensions are completed they will undertake no further any time decide to lay a double track. The Chicago &
new work till the result of their latest ventures is deter Northwestern 4 per cent extension bonds of 1886 are plain
mined.
This resolution, if adhered to, might reduce $20,000 per mile. The 5 per cent extension and collateral
materially the total of new mileage for 1888, but it prob bonds of the Rock Island are $15,000 per mile of single
ably comes too late to affect much the resu’t for 1887. track and $5,000 per mile for equipment, or $20,000 per
•Still, it is impossible to say what the 1887 total will be.
mile together, with $7,500 per mile additional for double
'Twelve thousand miles looks rather large ; and yet if the
track. The Chicago extension of the Atchison will be
last four months show as heavy proportionate additions as bonded for about $35,000 per mile; but on the other hand
J u ly and August the actual total will fall not far short of the Montana extension of the Manitoba has been bonded
that figure.
As
at only $17,500 per mile ($7,000,000 bonds on 400 miles
to the location of the new mileage, it has been
of road), though future issues may be up to $25,000 per
evident that the greater part of it must be west of the
mile.
Missouri, and chiefly in Kansas, Nebraska, Dakota, the
the rate of $25,000 per mile, but the various new branches
Indian Territory and Texas.
are bonded for much less, the Duluth & Manitoba and the
Such roads as the Atchison,
The Northern Pacific general 1st mortgage is at
the Rock Island, the Missouri Pacific, the Northwest, the
James River Valley being
$15,000
per mile and the
Burlington & Quincy and the St. Louis & San Francisco
Spokane & Palouse $16,000 per mile.
On the Atchison’s
have been very active in that territory, building hundreds,
South. Kansas extension $16,000 per mile of 1st mortgage
and some of them thousands, of miles of new road, and
and $4,000 per mile of incomes are allowed, while on the
hence it is not Surprising to learn from the A ge that the Chicago Kansas & Western the rate is $14,000 first
five States in question supplied over one-half of the new mortgage and $7,000 incomes.
track laid in the eight months.
Kansas of course leads
On the whole, $20,000 would seem a fair average at
all other States, 1,184 miles of road having been laid present of the amount of bonds put afloat on every mile of
there. Texas comes next with 665 miles, Nebraska is single track road built and equipped. W here expensive
third with 536 miles, Dakota fourth with 491 miles and
terminals have to be provided or large bridges constructed
the Indian Territory fifth with 443 miles, the aggregate
the average of course is much higher ; but this may be
for the five States being 3,319, while that for the whole
supposed to apply in comparatively few cases.
■country is 6,462 miles.
A fter these follow Colorado with
matter of stock the average is much harder to determine.
miles, Montana with 273 miles, Missouri with 213
The Chicago & Northwestern, the St. Paul Minneapolis &
403
In the
miles and Illinois with 210 miles, these being the only
Manitoba and the Burlington & Quincy are issuing no
States having as much as 200 miles each, though Georgia,
stock at all on their new extensions.
The Atchison on its
Alabama, Michigan, Wisconsin and California all report Chicago extension will have 30 millions of stock (Chicago
more than 150 miles of new road. But the following Santa Fe & California), but it will all be held in the A tch
•will show the full details, as given in the Age. In New ison treasury, and therefore not be put afloat ; so that
Hampshire, Vermont,
Connecticut,
Rhode Island, Dela practically it may be regarded as unissued.
On the
ware, W est Virginia and Nevada it is stated that no new
Chicago Kansas & Western the issue is $10,000 per mile,
*oad has been built.
but this also is held in the Atchison treasury.
TRACK LAID FROM JANUARY 1 TO SHPTEMBER 1, 1887.
On the
other hand, the Chicago Milwaukee & St. Paul lately
issued 10 millions new stock for new acquisitions, exten.
New York.........................
New Jersey......................
Pennsylvania...................
Maryland..........................
North Carolina.................
South Carolina.................
■Georgia.............................
Florida.............................
Alabama...........................
Mississippi.......................
Louisiana.......................
Tennessee.........................
Kentucky..........................
Ohio...................................
Michigan..........................
Indiana............................
Illinois..............................
Wisconsin.........................
No. Miles
I No. Miles
roads
\roads
1
11
2
10
4
62
51
1
7
43
1
11
3
35
8
124
84
3
25
6
155
5
83
9
18Ô]
2 i8
3
31
2
53 New Mexico Territory..... 1
4
4
13
5
48
12
80
60
7
171
4
45 Washington Territory...... 1
19
6
210
8 J 151
Tot. in 40 States & Ter’s. 219 0,462
sions, &c.
The Missouri Pacific also has issued large
amounts of stock for similar purposes.
announces a new issue this week.
The Rock Island
The Fort W orth
& Denver, on its new mileage, issues stock to the extent of
$20,000 per mile.
On the .Milwaukee & Northern the
limit is $17,000 per mile.
Taken altogether, while there
is no adequate data on which to make a wholly reliable
estimate, we should judge, in view of the large proportion
of new mileage built by the larger companies without the
issue of any stock, that $10,000
per mile of stock, in
addition to the $20,000 per mile of bonds, would cover
the capital creations on the new mileage built— this to rep
resent, be it understood, not the full amount issued (for
that would have to embrace such nominal creations as the
stocks on the Atchison’s auxiliary lines referred to above),
A n important point bearing upon this mileage is the but rather the amount actually used or put out, or intended
amount of new stock and bonds that may be supposed to to be put out.
This of course can only be deter
Taking these averages of stock and bonds per mile, the
mined approximately, and on the basis of an average per
have been placed on it.
6,500 miles (roughly) which have been constructed during
mile for each class of securities. This average in turn can the eight months would represent an outlay of 130 millions
only be got by an examination of some of the recent issues in bonds and 65 millions in stocks, or say 200 millions
by the principal companies. W e find that all the St. together. Of course this must not be regarded as the
Paul mortgages, like
the
Chicago & Pacific Western
total capital creation of the railroads; it covers only the
Division, the Chicago & Missouri River and the Wisconsin
new mileage built.
& Minnesota, provide for bonds at the rate of $20,000 per
in various ways, many of the larger corporations having
Further large sums have been spent
INVESTORS’
S e p t e m b e r , 1887.J
made extensive additions to property and
plant,
and
greatly increased their stock of equipment and motive
power.
SUPPLEMENT.
3
ganizations of defaulted and bankrupt roads.
In a good
many cases these reorganizations effect a change simply
But using the figures just as they are, it is in the class of securities, as for instance when bonds
are replaced by stock. In other cases, however, certain
important to note that the 200 millions on the new mileage
for the eight months of 1887 is in addition to about 425
junior
millions new stock and debt of all kinds created in the
of
calendar year 1886, making 625 millions in this way for
and debt.
the twenty months since the 1st of January, 1886.
reduction in capitalization is afforded
Ih e
securities
are
entirely extinguished,
course reduces correspondingly
the
and
this
total of stock
The most conspicuous recent instance of a
by the Nickel-
millions for 1886 is based on Mr. Poor’s Plate road, which was sold in May last under foreclosure,
figures in his last Manual, and is arrived at in the manner and is now being reorganized according to a plan pre
indicated in the C h r o n ic l e of September 3. About 225 viously agreed upon. Under this plan stockholders have
of the 425 millions may be taken to represent stock and paid a cash assessment of 10 per cent and will receive only
estimate of 425
Combining
50 per cent of their holdings in stock of the new company
these amounts with the figures for 1887, the total for the
__ that is, both the old common and the old preferred
eighteen months would stand at 330 millions bonds and
stock is cut down one-half.
nearly 300 millions stock.
200 millions bonds and other forms of debt.
The cash obtained from the
But while these are undoubt
assessments has enabled the company to pay off floating
edly heavy aggregates, they have been largely exceeded
and other obligations, and after reorganization the total of
in single periods
Thus from the
stock and debt will be only 50 millions, against over 75
subjoined table it will be seen that in 1881 there was an
million for the old company, as follows, the reduction
increase in stock of about 468^ millions and in debt of
amounting to full 25 million dollars.
of
twelve
about 4 0 7 f millions, and in
months.
333^ millions and in debt of 404| millions.
The folio v-
ing shows the changes in stock and debt of United States
railroads
1880.
in 1886 and 1885,
and
in
1882,
1881
and
The figures cover the fiscal years of the respect
ive companies,
fo r"T 8 8 6
and
that
NICKEL-PLATE (NEW YORK CHICAGO & ST. LOUIS )
1882 an increase in stock of
explains
why
the addition
is only 320£ millions, while above we have
__1
Before Reorganization.
A$28,000,000
Preferre ........ ...... 22,000,000
Total............ .... $£0,000,000
Bonds—1st 6s............... ... $15,000,000
1,046.000
Equip. 7e ........ ..... 4,000,000
Bills payable, &c......... .... 5,500,000
stated it as 425 millions on the basis of the calendar
Grand total.........
year.
.... $2f,546,000
. .. $76,546 000
After Reorganization.
..........
2d p r e f ...... ..........
Comm n ...... ..........
$5,000,000
11.000,000
14,000,000
T o ta l....... .......... $30,000,000
.........$20,010,000
Grand total....... .......... $50,000,000
In the reorganization of the East Tennessee, effected
1886.
Increase....
Funded d e b t..
Increase___
Other debt......
Increase___
Grand total....
Increase —
1885.
1882.
1881.
1880.
last year, the capitalization was also reduced, but not so
$
$
$
$
$
3,999,508,508 3,817,697.832 3,511,085,824 3,177,375,179 2,708,673,375
313
,
026,082
181,810,676 33,081,14b 333,660,645 468,701,804
3,882,966,330 8,765,727,066 3,235,543,323 2,878,423,606 2,530,874,94a
117 ,239,264 96,611,294 357,119,717 347,548,663 211 ,385,771
280,673,814 259,108,281 270,170,962 222,766,267 162,489,939
5 ,608,887
zr,363,333 14,441,683 47,404,695 60,276,328
8,163,148,652 7,842,533,179 7,016,750,109 6,278,565,052 5,402,038,257
320,613.473 166,134,125 738,185,057 876,526,795 530,020,740
much as in the case of the Nickel-Plate— the total of stock
and debt being placed about 10 millions smaller than
before.
A m ong some of the minor companies the Toledo
Peoria & Western may be mentioned as distinguished in
the same way.
Here the old 1st mortgage bondholders
received dollar for dollar in new bonds and 100 per cent
besides in new stock; but as all the junior securities
No te .—T lie above figures all cover “ fiscal” years, not calendar years
If the calendar year 1886 were taken, the Increase in stock and all ($2,900,000 1st preferred incomes, $1,000,000 2d preferred
kinds of debt would be about 425 millions, instead of 320 millions, as
incomes and $3,000,000 stock) were wiped out, the total
given.
Aside, however, from the fact that present additions are
not as large as in some former active periods, there are
other important points of difference in favor of the cur
rent period, to which we have alluded on previous occasions,
but which will bear brief repetition now.
In the first
place, the work is being done chiefly by old companies of
large resources and heavy earning power, and if the new
ventures at first result in a loss, the parent company will
be amply able to bear it.
Then the rate of interest is
very much lower, the average being not above 5 per cent,
with some of the companies borrowing at 4 per cent.
It
is to be remembered too that in most cases the new roads
are intended as branches or feeders to existing systems,
and therefore are of a different character from the mere
capitalization is nevertheless smaller than before, namely,
$9,500,000, against $11,400,000.
In many other cases, however,
reorganization
has
resulted in increasing capitalization rather than decreasing
it.
This follows usually because bonds or stock were
given to represent back coupons and unpaid interest, or in
return for cash assessments paid, or as compensation for a
reduction of interest.
The Denver & Rio Grande is a
typical instance of this kind.
On it every one of the
causes mentioned operated to increase the aggregate of
stock and bonds (bonds if taken alone, however, showing
a*decrease), and hence the total now stands at $90,607,500,
against $70,099,000
before, as may be seen from the
following.
DENVER & RIO GRANDE.
speculative undertakings so prominent in other periods.
After Reorganiza1ion.
Before Reorganization.
Common stock....................$38,000,000 Stock—Common...................$38,000,000
Preferred............. 23,650,000
the present large issues of stock and bonds is that so Bonds—1st 7s..................... $6,382,500
Total ..............................$61,650,000
7s consol............... 19,740,500
few of them, comparatively, come on the market. Most
Bonds—1st 7s...................... $6,382,50
Gen. mtgs. 5s...........................2,500,000
New 4 s.................. 22,575,000
Car trusts.. ........... 3,476,000
of the loans are placed with large and powerful syndi
Total bonds................... $28.957 500
Total
bonds....................$32,099,000
cates— usually abroad— and nothing more is heard of
Grand total.................. $40,607,500
Grand total................... $70,099,000
But
the
most remarkable feature in connection with
them publicly, the buyers apparently finding no difficulty
in
disposing
way.
of their takings to investors
in a quiet
Instances of this kind have been very numerous
and they constitute an element of great strength in the
ituation.
W hile on this question of securities issued it may be
But while stock and debt has been increased 20^ mil
lions, the obligatory annual interest charge, owing to a
reduction both in the rate of interest and in the amount of
bonds, is but $1,349,775, while previously it was $2,221,800. A n d this is a feature common to almost all reorgani
well to note an element of a somewhat different char zations. W hether capitalization has been increased or
acter from that set out above.
W e refer to the decreased, charges have been reduced, so as to avoid, if
changes in stock and debt caused by the various reor possible, future defaults.
STOCK AND BOND T A B L E S .
NO TES.
These tables are expressly intended to be used in connection with the information concerning investment matters published from week to
week in the Chronicle —to which an index is furnished in the remarks on each page. Annual reports are in black-faced figures.
The following will give explanations of each of the columns of the tables below:
Description. -Railroads leased are sometimes given under the lessee’s name. Abbreviations used a re: M. for “ mortgage,” s. f. for “ sinkingfund,”
L gr. for "land grant,” reg. for “ registered ” coup, for “ ooupon,” br. for “ branch,” guar, for “ guaranteed,” en u for “ endorsed.”
Date o f Hands.—The date of issue is referred to in this column.
Miles o f Road —Opposite stocks, this means the miles of road operated; opposite bonds, the miles covered by the mortgage.
Size or Par Value.—These figures are dollars, showing the denominations or par value. The figures “ 100, &c.,” signify $100 and larger.
Rate Per Cent. - The interest per annum is given for bonds, but the per cent of last dividend for stocks; g means gold; x, extra: s. stock or scrip.
When Payable.—3. & J. stands for Jan. & July; F. & A., Feb. & Aug.; M. & 8., March & Sept.; A. & O., April <teOct.; M. & N., May & Nov.; J. <fc D.,
Jnne & Dec.; Q.—J., quarterly from January; Q.—F., quarterly from Feb.; Q.—M., quarterly from March.
Bonds, principal when due ; Stocks, last dividend.—The date in this column shows the period when the principal falls due of bonds, but the time
when the last dividend was paid on stocks.
UNITED
DESCRIPTION.
4s of 1907, coup, and reg., incl. refund, certfs
4^8 of 1891, ooupon and registered................ .
3 per cents, Navy Pension fund.........................
Currency 6s, registered...................... .............
STATES
Amount
Author Size or
par
outstanding.
izing Act.
value. Sept. 1, ’87.
BONDS.
INTEREST.
When
pay’ble
Rate.
1870 & ’71 $50&e. $737,978,600 4, coin.
50&C. 244,251,600
1870 & ’71
coin.
50&c.
July 1868
14,000,000 3, coin.
J’y ’62&’64 lOOO&c.
64,623,512
6
All the Government bonds except the currency sixes are redeemable
in coin, the sort of coin not being specified. The fours and four and a
halfs are issued in bonds of $50, $100, $500 and $1,000, both coupon
and registered issues, and the registered bonds also in pieces of $5,000,
$10,000, $20,000 and $50,000r- Tbe United States currency sixes are all
registered, issued in pieces of $1,000, $5,000 and $10,000, are payable
STATE
Where payable and by
whom.
Q .-J . U. S. Treasury & Sub Treas.
Q.-.M.
do
do
do
do
J. & J.
U. S. Treasury.
J. & J.
Principal—When
due.
July 1,1907
Sept. 1,1891
1895-6-7-8-9
! in “ lawful money,” and mature as follows: $3,002,000 in 1895’
$8,000,000 in 1896, $9,712,000 in 1897, $29,904,952 in 1898 and
|$14,004,560 in 1899. The interest on registered bonds is mailed by
check directly to the holders or to any address requested by the registeied holders,
|
SECURITIES.
Subscribers w ill confer a great favor by giving immediate notice ol any error discovered In tbese Tables.
DESCRIPTION.
Date of
Bonds.
Alabama—Substitution bonds (A) ($7,000,000).
1876
Substitut’n b’ds for RR. (B) ($596,000).......... .
1876
do
for Ala. & Chatt. (C) ($1,000,000;
1876
Funding “ obligat’ns” (tax-rec’ble 10-20 yrs.)
1880
Arkansas—Funding bonds of 1869 and 1870.. 1869 to ’70
Funding Bonds 1870 (Holford)..........................
1870
Levee bonds (or warrants)............................... .
1871
Old debt, including interest to 1884............... . 1838 to ’39
To Memphis & Little Rock Railroad................
1869
To Little Rock & Fort Smith Railroad...........
1870
To Little Rock, Pine Bluffs & N. Orleans R R ..
1870
To Miss., Ouachita & Red River Railroad
1870
To Arkansas Central Railroad..................
1870
California^- Funded debt bonds of 1873............
1873
Connecticut—Bonds. 10-20 y e a r ..........1 Coup.
1877
New bonds (sink, fd.) not taxable___j or reg.
1883
do
New bonds, reg.
do
1884
New bonds, coup, or reg.................
1885
Bonds registered (redeem at will)
1887
Delaware.—Refund’g bds., ser. “ A ,” “ B” & “ C”
1881
Bonds, redeemable after June 1,1 89 5 ............
1885
___
School b o n d s .......................................................
Dist. o f Columbia- Perm’t imp’t, gold, coup___
1872
Permanent improvement bonds, coupon........
1873
Bds for fund’g (Act June 10,’79) coup, or reg.
1879
Fund, b’ds (UB.guar.,Acts June,’74& Feb.,’75)
1874
Market stock, registered and coupon...............
187Pj
Water stock bonds, coupon................................ 1871 to ’73
Wash, fund’g, gld,($618,100 are M.&N.,1902).
1872
Florida—State bonds.............................................
1871
Gold bonds...........................................................
1873
Georgia—Quar. g. bds., act of Sept. 1 5 ,1 8 7 0 ...
1870
Bonds, act of Jan. 18, ’7 2 ..................................
1872
Bonds to fund ooupons on endorsed bonds...
1876
Bonds exchanged for endorsed RR. bonds___
1877
Funding bonds, ooup. Act Deo. 23, ’ 84..........
1885
State University Bonds...................................... 1882 & ’83
Indiana—Temporary loan...................................
1885
School fund bonds (non-negotiable).................. 1867 to ’73
Kansas—B’ds for State purp. £$574,500 held C 1864t o ’75
Military loan..................... } in State f’ds— ( 1866 to ’69
1884
Kentucky—Bonds, gold..........................................
Military bonds......................................................
1866
Size or
Amount
par
Outstanding
Value.
$100&c. $6,747,900
100 &c.
539,000
100 &c.
953,000
....
954,000
1,000
1.255,000
1,000
1,268,000
10Ó &c.
1,986,773
1,000
2,575,063
1,000
1,200,000
1,000
1,000,000
1,000
1,200,000
1,000
600,000
1,000
1,350,000
500 &c.
2,698,000
1,000
1,030,000
1,000
500,000
1,000
1,000,000
1,000
1,740,000
1,000
1,000,000
1,000
625,000
....
120,000
.
156,750
500 <feo.
3,166.900
100 &c.
6 ‘ 6,200
100 &c.
943,400
50 &c. 14,033,600
50 <fec.
145,050
1,000
375,000
100 &c.
l,60o,8U0
100
280,100
100 &o.
7x7,300
1,000
2,098,000
50Ò &c.
307,500
1,000
542,000
1,000
2,141,000
1,000
3,392,000
254,000
• ___
1,685,000
....
3,904,783
100 &o.
824,500
.
206.000
1,000
500,000
1,<»00
174,000
Alabam a.—The “ A ” bonds bear 5 per cent after 1896. Alabama
& Chattanooga endorsed bonds were exchanged for $1,000,000 of
the new bonds, Class O. In 1880 the new 6 per cent bonds were
Issued to retire old 8 per cent “ State obligations.” Analysis of the
debt and funding of 1876 was given in the Chronicle , V. 24, p. 28.
For the $2,000,000 of State 8 per cent bonds issued to the Ala. & Chatt.
RR. under act of Feb. 11, 1870, the State gave the lien on the lands
ranted to that railroad, 500,000 to 1,200,000 acres. The 10-40’s of 1880,
ue in 1900, may be called at par after 1890. The assessed valuation of
real estate and personalty was $152,920,115 in 1881-82, $158,518,157
inl883-84 and $172,528,933 in 1885-86; tax rate $6 per $1,000.
Arkansas.—The State Supreme Court decided Levee bonds of 1869
and 1870 invalid; nor are the Holford or the Railroad Aid bonds recog
nized by the State. The State is in default for interest. In Jan., 1883,
a decision was made by the U. S. Circuit Court, substantially holdin»'
the railroad companies responsible for the State bonds issued to them!
but this was reversed and the case appealed to U. S. Supreme Court.
The following are official assessments and tax rate per $1,000:
Real Estate.
Personal. Tax Rate.
1884..............................
$81,649,415
$50,403,842
$7
52,131,530
1885........................................ ' 82,273,005
4
1886 (one county missing).. 85,531,485
53,775,852
5
—(V. 44, p. 421.)
California.—The State holds in trust for School and Universitv funds
$250,000 Capitol bonds and also bonds of 1873, in all $2,494,500,
leaving only $458,500 in private hands. Assessed valuations and rate
o f tax per $1,000 have been:
Tears.
Real Estate.
Personal. Tax Rate.
1 8 8 4 ..................................$654,990,072
$166,614,631
$1-52
1885.................................... 688,311,102
171,201,282
5-44
Connecticut.—The debt of Connecticut was all created originally for
war purposes. Assessed valuation and tax rate per $1,000 have been:
Years.
Real Est. & Personal.
Tax Rate
1884........................................
$349,977,339
*1-25
1885...................................
349.177.597
2-00
1886 .........................................
349,725,773
125
The assessed valuation of real estateis about 70 per cent of the true value.
—(Yol. 44, p. 808.)
D elaw are. —These refunding bonds issued July, 1881, take up out
standing debt. Series “ A” are $160,000, redeemable 1886: series “ B ’ ’
$300,000, redeemable July, 1886 to 1891; series “ 0,” $165,000, redeem-
f
Rate.
4
5
4
6
6
6
7
6
7
7
7
7
7
6 g5
3ia
3ia
3
3ia
4
4
6
6 g.
7
5
3-65
7
7
6 g.
7
6 g.
7 g.
7
7
6
4ia
7
3>a
6
7
7
4
6
INTEREST.
When
Where Payable and by
Whom.
Payable
J.
J.
J.
J.
J.
&
&
&
&
&
Principal—When
Due.
July 1,1906
July 1,1906
July 1,1906
Jan. 1, 1900
1899
1900
1900
1860
•
. 1899
1900
1900
1900
April, 1900
1893-94
Sacramento, Treasury.
May 1, A897
Hartford, Treasury.
Jan., 1903
do
do
Jan. 1,1903
do
do
Oct. 1,1910
do
do
May 1,1897
do
do
1891,1901
Phila., Phila. Nat. Bank.
June 1,1905
do
do
Jan. 1, 1901
July 1, 1891
Wash, or N. Y., U. S. Treas.
July 1, 1891
do
do
July 1. 1899
do
do
Aug. 1, 1924
do
do
July 26,1892
do
do
Oct. 1,1901 & M)3
do
do
1892 & 1902’
do
do
Jan. 1, 1901
N. Y. ,Park Bk.& Tallahassee
Jan. 1,1903
do
do
Oct., 1890
N. Y., Fourth National Bk.
May, 1892
do
do
July 1, 1896
do
do
Jan. 1, 1889
do
do
July 1, 1915
New York & Atlanta.
1932-33-34-35.
1895
N. Y., Winslow, L. & Co.
....
1887 to ’95
N. Y., First Nat. Bank.
1887
to ’99
do
do
1905
New York City.
1896
Frankfort, Ky.
J. N. Y., Am. Exch. Nat.Bk.
do
do
J.
do
do
J.
Montgomery.
J.
J.
J. & J.
.T.
J.
A. & O.
A. & O.
A. & O.
A. & O.
A. & O.
J. & J.
M. & N.
J. & J.
J. & J.
A. & O.
VI. & N.
J. & J.
J. & D.
J. & J.
J. & J.
J. & J.
F. & A.
J. & J.
J. & J.
J. & J.
Jan.
J. & J.
Q .-J .
J. & 3.
3. & 3.
3. & 3.
3. & 3.
Various
J. & J.
J. & J.
J. & D.
J. & J.
able July, 1891 to 1901. In addition to above, $83,000 is due Delaware
College. There is no State tax levied, nor assessments made.
D is t r ic t o f C o lu m b ia .—The interest and sinking fund on the 3-65
bonds are provided for by Congress, and the amount is limited to
$15,000,000. Real and personal estate, &c., assessed as follow s: 1884,
•real estate, $90,496,331; personal, $fcO,987,443: tax rate, $L5 per $1,000,
1885, real estate, $93,491,891; personal, $12,715,686; tax rate, $15;
1886, real estate, $91,054,301; personal, $12,532,997; tax rate, $15.
F l o r i d a .—The sinking funds hold $218,800 of above bonds, and the
school, &e., funds held $625,500 more, leaving outstanding $430,700.
Coupons of all bonds are receivable for taxes. Real and personal property
assessed in 1883, $ >5,008,560, tax rate $4 per $1,000; in 1884, $60,042655: tax rate $4. Assessment in 1886, $76,611,409; tax rate, $4.
G e o r g ia .—The constitutional amendment in 1877 declared void
several issues of bonds and railroad endorsements. The 4 ^ p.o. bonds,
of 1885 were sold to take up other bonds maturing in 1885 and 1886.
Tax rate, 3hi mills. Assessed valuations have been:
Years.
Real Estate.
Personalty.
Railroads.
.............. $174,452,761
$120,432,609
$22,188,901
1884
1 8 8 5 !!..!................. 179,946,059
119,200,739
23,000,294
1886 (tot.valuat’ns) '------- ----------------- $329,189,505-------- -------- 1— — —'
I n d ia n a .—There are also outstanding $340,000 5 per cent bonds
due 1901, held by Purdue University; $30,000 State University bonds
held by Treasurer, and about $ 18,000 miscellaneous issues of bonds.
Valuation in 1885, $793,526,079, Valuation in 1886, $794,696,597.
K a n sa s.-K a n sa s has but a smallStat s debt, but the issue of munioipa
bonds was about $19,397,851 Jan. 1, 1887. Population in 1884, 1,135,1
614; in 1887, 1,500,000. The valuations (about one-half of true value)
have been:
„ , .
Real and
Rate of T ax
Total
Years.
Personal.
per $1,000.
Debt.
1885 ............................................. $247,371,645
$ ........
$ .......
1886 . ........................................ 277,113,323
4 10
830,500
1887
................................... 310,596,636
.........
.........
K e n t u c k y .—Against the bonds as above the sinking fund held
$711,150, Sept., ’87. Valuation in 1884, $377,888,542; in 1885, personal,
$98,833,919: real estate. $293,989,044; total valuation, $390,827,963,
In 1886, personal. $95,654,572; real estate, $293,204,320; in 1887.
personal, $132,929,408; real estate, $351,519,622.
S e p t e m b e r , 1887.]
STATE SEC UKÍTIES,
S
Subscribers w ill confer a great favor by giving immediate notice o f any error discovered in tbese Tables.
DESCRIPTION.
Por explanation see notes on fire* page of tables.
Louisiana—Relief of State Treasury and miscel.
Bonds in aid of various railroads.....................
Bonds to Boeuf & Crocodile Navigation C o...
do to Mississippi <fe Mexican Gulf Canal..
do school, held by St. Treasurer...............
do to N. Orleans, Mobile & Chatt. RR.......
do to N. Orleans, Mobile & Texas R R ........
Date of
Bonds.
Size or
Amount
par
outstanding.
Value.
Rate.
INTEREST.
When
Where payable and by
Payable
whom.
1853
$500
$40,100
1,000
175,000
1,000
80,000
1,000
260,000
1,000
48,000
1,000
70,000
1,000
2,500,000
1,000
875,000
100 &c. 11,966,450
....
1,437,000
500 &c.
2,330,000
100 &c.
2,827,000
....
1,784,444
....
2,263,333
309,485
31,069
....
269,000
298,435
62,605
3,000,000
125,000
....
500,000
1,845,589
500 &c.
4,379,500
£100 &c 4,022,649
£200
1,005,419
£200 &c 5,537,104
500 &c.
1,366,500
200 &c.
3,618,242
£500
1,506,182
1,000
300,000
1,000
1,300,000
10,000
370,000
5,000
200,000
£200
3,618,729
1,000
300,000
1,000
1,500,000
1,000
1,100,000
£500
1,299,355
1,000
231,000
1,000
3,965,000
1,000
2,483,000
1,000
185,000
24,000
1,000
80,000
1,000
863,000
1,000
246,000
1,000
428,000
1,000
1,190,000
1,000
1,474,000
1,000
617,000
1,000
2,278,000
1,000
659,000
1.000
449,267
1,000
150,000
100 &c.
2,206,100
1,000
400,000
1,000
56,000
100 &e.
802,900
100 &c.
593,400
100 &c.
473,000
100 &c.
4.269,950
100 &o.
1,998,000
1,000
800,000
6
6
8
7-30
6
8
8
8
7(4)
2, 4 ,3
6
6
5 g.
5 g.
5
5
3
6
6
3-65
6
6
3
5 g5 g5 g5 g.
5 g5 g.
5 g.
5 g5 g5 I5 g5 g5 g.
5 g5 g.
5 g.
7
4*fl
6
6
6
6
6
6
6
6
6
6
3*3
6
8
6
6
5
5
6
6
6 g.
6 g.
6 g.
2*3
J. & J.
$12,000
Various
108,000
J. & J.
80,000 Amounts not
M. & S.
260,000
fundable,
Various
48,000 per report of 1
J. & J.
70,000 Jan. 1 , 18S7.
A. & O. 2,500,000
875.000
J. & J. N.Y., Winslow, Lanier & Co
J. & J.
New Orleans.
J. & D.
Boston, Suffolk Bank.
A. & O.
Augusta and Boston.
J. & J.
London, Baring Bros.
J. & J.
do
do
Q .-J . Balt., Farm. & Merch. Bk.
A. & O.
do
do
do
Quart’y
do
do
Q.—J.
do
A. & O.
do
do
j . & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & Jdo
do
M. & N.
Boston, Treasury.
M. & N.
London, Baring Bros.
J. & J.
do
do
A. & O.
do
do
Various
Boston, Treasury.
J. & J.
London, Baring Bros.
J. & J.
do
do
J. & J.
Boston Treasury
J. & J.
do
do
M. & 8.
do
do
A. & O.
do
do
J. & J.
London, Baring Bros.
J. & J.
Boston, Treasury.
Various
Boston, Treasury.
Various
do
do
J. & J. London, Baring Bros. & Co.
M.& N. N. Y., Am. Exchange Bank.
J. & J. N. Y. City, First Nat. Bk.
J. & J. N. Y., Bank of Commerce.
J. & J.
do
do
do
J. & J.
do
J. & J.
do
do
do
J. & J.
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
A. & O.
N.Y., Kountze Bros.
M. & S.
Concorc or Boston.
do
J. & J.
do
J. & J. Bost..Nat.Bk.Commonw’lth
J. & J.
do
do
J. & J. Jersey City and Trenton.
do
J. & J.
do
A. & 0. N. Y., Manhattan Co. Bank.
do
J. & J.
do
A. & O.
do
do
J. & J.
1870
1869
1857
1870
1871
1869
1874
Consolidated funded bonds(stamped 4 per ct.)
1880
“ Baby” bonds, threes
1864
Maine—Bounty loan bonds.................. Î Coup.
1868
Municipal "war debt assumed............S or reg.
1838
1838
Chesapeake & Ohio Canal, sterling............
1838-47
Railroads and canals..................... .............
1839
Eastern Shore Railroad...............................
1837
Baltimore & Susquehanna Railroad..........
1839
Baltimore & Susquehanna Railroad..........
1839
Annapolis & Elkridge Railroad..................
1882
Defense redemption loan.............................
1870 & ’74
Deaf and Dumb Asylum Loan....................
1878
Treasury relief loan, 10-15 years...............
1886
Exchange loan of 1886 ...............................
1864
Massachusetts—Bounty Fund Loan...............
1864
do
do sterling.........................
1869
War Loan, sterling.......................................
1858 t o ’61
Troy & Greenfield Railroad loan, sterling,
1861 to ’63
do
do
home ..
1871
do
do
sterling,
do
do
sterling,
1875
do
do
dollar bo
1873 to ’74
1875
do
do
do
do
do
do
1877
Southern Vermont Railroad Loan.............
i860
1868 to ’69
1874 & ’76
Harbor Land Improvement (5-20s)............
1874 & ’77
Danvers Lunatic Hospital..........................
Lunatic Hospital, Worcester___- ............
1875-’76
New State Prisons, sterling..................... .
1875
Michigan—War Bounty Bonds.......................
1865
Minnesota—Adjustment bonds, (10-30, red.,
1881
Missouri—Consolidated b on d s.......................
1868
University and Lunatic Asylum bonds___
1872
Penitentiary indemnity............................
State Bank stock refunding.........................
1874
Bonds to North Missouri Railroad.............
1854 t o ’58
Bonds to Cairo & Fulton R a ilroa d .....___
1857 t o ’59
Bonds to Platte County Railroad...............
1859 to ’60
Bonds to Iron Mountain Railroad.............
1854 to ’59
Pacific Railroad of Missouri.......................
1853 to ’59
Funding bonds...............................................
1874
do
5-20 years.............................
1886
Hannibal & St. Joseph Railroad, renewal.
1874
Nebraska—Bonds (act Feb. 14,1877) coupoi
1877
New Hampshire—War loan, coupon bonds..
1864
Municipal war loan.......................................
1872
Loan of 1879 for refunding........................
1879
Prison loan....................................................
1879
New Jersey—Wax loan bonds, tax free..........
1863
do
do
taxable.............................
1864
New York— (
1875
Canal debt,] Under Art. 7, Sec. 3, of Coni
1873
reg. stock. Institution.
1874
Niagara Park Loan bonds.
1885
..
Louisiana.—T he Constitutional amendment passed Dec., 1879,
Provided for a new bond m place of consols of 1874. bearing 2 per cent
for 5 years, 3 per cent for 15 years and 4 per cent afterwards. In
June, 1882, a constitutional amendment passed the Legislature and
was confirmed at the election in April, 1884, giving new bonds at 4 per
cent after Jan. 1,1885, and doing away with the provision of 3 per cent
for fifteen years. There is considerable overdue interest of the years
1874 to 1880, inclusive. The constitution of 1879 limits the power of
taxation to 6 mills on the valuation, of which only 3 mills may be ap
propriated for interest on the debt; in 1884 Ho mill« sufficed to pay 2
per cent, but for 1885 a rate of 2”s was made on a total taxable valuation
of $212,725,566. A suit by the State of New Hampshire against
Louisiana as assignee of her bonds, was decided in favor of Louisiana by
the U. S. Supreme Court.
Principal—When
due.
July, 1893
1872 to 1906
Jan. 1, 1890
1899
1897
July 1,1910
April, 1911
Jan’ ,' 1914
1887 and 1914
June 1,1889
Oct. 1,1889
1889
1889
1890
1890
1890
1890
1890
1899
1889
1893
1920
May 1, 1894
May 1, 1894
July 1, 1889
Apl., 1888 to *90
April, 1891 to ’94
July, 1891
Jan. 1, 1895
1894
July 1, 1895
Sept. 1,1897
April 1,1890
Jan. 1,1900
Sept. 1,1896
J’y l,f94-Sep 1,’97
M’v i ’95-Sep 1,’96
Jan. 1, 1895
May 1,1890
1911
J a n .1,1888
July, 1892
April 1,1895
April 1,1894
1887 t o '88
1887 and ’89
1889 to ’90
1887 to ’89
1887 and ’89
July, 1894 & ’95
Jan. 1,1911
1894-o-6
April 1,1897
Sept. 1, 1889
Jan., ’92 to 1905
July 1 , 1889-’92
Jan., 1888 to ’91
Jan., 1888 to ’96
Jan., ’97 to 1902
Oct., 1893
July 1,1891
Oct. 1,1892
$100,000 yearly
personal property, 1882, about $810,000,000, and in 1886, $945,450,
000; in ’83, tax rate, per $1,000, $1-82; in ’84, $1'1045 ; in ’ 85, $2-40*
Minnesota.—All the old State bonds formerly held by the permanent
school fund have been redeemed or exchanged for 4*38. Minnesota refused for some years to recognize the “ State Railroad Bonds” of 1858,
to the amount of $2,275,000, but a proposed compromise with the
holders was provided for in 1881, and was carried out by the issue of
the 4*a per cent bonds. Taxable valuations and State tax per $1,000
have been:
Years.
Real Estate.
Personal. Tax Rate.
1883 .......................................$255,910,090
$78,549,269
$1-80
80,298,879
1*30
1884 ..................................... 307,859,774
1885 ...................
310,781,118
80,300.000
1*80
1886 ..................................... 380,000,000
83,000,000
1-30
Maine.—The debt January 1, 1887, was $5,157,000. The sinking
Missouri.—The tax rate is $4-00 per $1,000, Bonds maturing are
fund $2,110,390. Tax rate for 1880, $5-0 >per $1,001 of valuation
of 1870; 1881-82, $4-50; 1883-84, $4-00; 1885-6, $3-75 on valuation met by sinking fund. Total State debt Jan. 1,1887, was $14.180.000,
o f 1881.
including school fund and University certiiicates, $3,653,000. The
Hannibal & St. Joseph RR. paid the State $3,000,000 for its debt, but
M aryland.—The State has largely assisted canals and railroads, and the State refused on Jan. 1,1882, to pay the coupons on its own $3,000,holds $5,302,286 of stocks and bonds ranked as productive; the State 000 of bonds. Litigation between the State and company ensued, re
also holds $28,126,034 in unproductive securities, which includes sulting in a judgment against the company for $476,049, as due the State
$25,371,966 ou a co u u t of Chesapeake & Ohio Canal. The State e x on May 11,1883; an appeal to the U. 8. Supreme Court is yet pending.
changes the “ Defense Loan” at par for new certificates of indebtedness, The following is a statement of the assessed property in this State on
bearing interest at 3'65 per cent, redeemable in 15 years. Assessed val June 1,1883,1884 and 1885:
uation, &c., have been:
1883.
1884.
1885.
$495,293,007
$518,803,118
Real & Personal. Tax per $1,000. Real estate..................... $443,144,455
186,425,373
181,133,128
1 8 8 3 ....................................................... $466,089,380
$1-87*3 Personal property___ 173.345,191
39,760,767
44,564,997
46,444,835
1 8 8 4 .......................................................
469,593,225
1-87*3 Railroad property, «fee.
1 8 8 5 ......................................................
473,452,144
......
T ota l.......................$656,250,413
$726,283,378
$746,381,081
1 8 8 6 ............................
476,829,611
1*87*3
—(V. 43, p. 217.)
Nebraska.—The State sohool fund holds $326,267. Assessed valu
of real estate, personal, railroad, &o. (33*a per cent of true value,
Massachusetts.—1
The funded debt, Jan. 1, 1887, was $31,429,680; ation
and
tax rate per $1,000, have been:
the sinking funds were $18,964,412. The Hoosao tunnel and connections
Valuation.
Tax Rate.
cost the State heavily. The loan to Boston Hartford & Erie Railroad Years.
$126,615,886
$7-69*3
was secured b,y Bcrdell’ mortgage bonds, afterwards exchanged for 1884 ......
7*72 *«
< ‘ , o o - * «A
S6005<1 mortgage bonds, and these bonds were sold 1885 ................................................................. 133,418,700
in 188o at 90. Assessed valuation, tax-rate, &c., have been:
1886 ................................................................. 143,932,570
7*62*3
1887
...................................................
160,506,266
_
Real
Personal
Total
Sinking
Years.
Estate.
Property.
Debt.
Funds.
N ew H am pshire. —The debt of New Hampshire was created ior war
1 8 8 2 .................$1,189,524,370 $812,858,614 $32,511,680 $16*944 263 purposes.
The Municipal loan of 1872 was issued to cities and towns,
1883--................ 1,226,111,297 835,601,175
31,423,680 16,836,672 the proceeds
to be applied to their war debts. Total valuation in 1883
18 8 4 .................. 1,258,452,712 829,339,811
31,423,680 17,731,725
in 1884, $231.340,088; in 1886, $238,166,855; tax rate
1 8 8 o.................. 1,287,993,899 827,043,710 31,423,680 18 182 672 $227,914,543;
for
State
Durposes
nearly $2-00 on $1,000 of valuation.
1886.................. 1,340,493,673 839,403,214 3i;429,680 i p S t J i a
Michigan. The debt is oractically extinguished, as the sinking fund
New Jersey.—The debt was created for war purposes. Valuation
lifts sufficient assets to pay tlic bonds* Equalized valuation of real and of real and personal property (taxable) was $573,256,203 in 1886.
o
INVESTORS’
SUPPLEMENT
[VOL.
XLV.
Subscribers w ill confer a great favor by giving immediate notice o f any error discovered In these Tables.
DESCRIPTION.
For explanation see notes on first page of tables
Date of
Bonds.
Consol, (act Mar.^71) coup, tax receivable___
do
do
reg., conv. into coup...
“ Riddleb’r” b'ds, acts Feb.14,’82, ANov.29,’84
Rate.
INTEREST.
When
Where Payable and by
Payable
Whom.
4
$50 &c. $3,025,650
J. A J
2,288,000
6
500 &c.
various
649,000
6
1,000
Various
2,577,000
6
1,000
A. & O.
1,180,000
6
1,000
....
44,000
6
1,000
A. & O.
6
1,000 11,366,000
A. & O
600,000
4
100 Ac.
J. A J.
2,”740,000
3
J. A J.
6,502,000
5
100 Ac.
F. & A.
1,848,400
4
F. & A
100 Ac.
6,861,100 31* & 4 F. & A.
50 Ac.
1,249,600 3^2 & 4 F. & A.
50 Ac.
500,000
___
6
___
614,000
1,000
6
J. & J.
732,000
6
1,000
F A A.
154,114
6
1,000
J. & J.
26,650
50 Ac.
6 g. J, & J.
52,000
1,000
6 g. J. & J.
13,000
1,000
6 g- A. A O.
128,000
1,000
6 g. A. & O.
36,500
500 &c.
h g• J. A J.
41,200
500 &c.
6 g. J. & J.
418.941
___
6
J, & J.
6,138,995
6
500 &c.
J. & J.
J. & J.
1,000 j 4,200,000
í 5& 6 J. & J.
1,000
1,000
397,000
6
J. & J.
2,014,000 3, 4, 5, 6 J. & J.
500 &c.
Ì882
3
100 Ac. 10,932,400
J. & J.
1,038,000
5 & 6 J. & J.
100 &c.
1883
___
67,000
6
Various
1872
499,000
1,000
7 g. M. & 8.
1871
467,000
1,000
1872
7 g. I. & J.
288,000
1,000
1874
7 g. J. & J.
1,647,000
1,000
1876
6 g- J. & J.
1,068,900
5
J. & D.
100 &C.
1879
...
82,168
6
1867
1, i 59,425
6
J. A J.
1851 to ’66 50Ò’ Ac.
629,090
£100 &c
5
J. & J.
1851
6
100 &c. 13.019,000
J. & I.
1871
1,212,910
6
100 &c.
J. & j .
18 1
365,000
6
J. & J.
100 Ac.
1872
532,684
6
A J.
1*72
Various 12,691,530
6
J. A J.
1871
6,890,300
3 to 5 J. A J.
1879
219,800
3 to 5 J. & J.
1879
2,872,320
100 &c.
3
1882
J. & J.
North Carolina—Fund, b’ds (coups.tax-rec’ble).
1879
Oldbonds not funded.........................................
Bonds to North Carolina R ailroad..................
1879
Bonds for N. C. RR. issue (tax receivable cps.)
RR. bonds not fundable (Chatham and W. AT.)
Penitentiary bonds, act Aug. 24, 1868............
1868
Special tax bonds (in 3 classes).........................
Ohio—Registered loan of 1881............................
1881
New 3% loan ($250,000 due yearly after ’89).
1877
Pennsylvuniar—Reg. bonds, tax fr. (red’b le’92).
1879
Registered bonds, tax free, 15-25 years........
1882
Loan of February, 1882 (registered)...............
1882
do
do
in ten series.............
1872
Agricultural College land scrip........................
1863
Rhode Island—War bonds.....................................
1864
War bonds..................................... ..................
South Oarolinor—State House stock and bonds.. 1853 to ’54
1866
Funding bonds and stock..................................
1854
Blue Riage Railroad bonds...............................
1868
Funding bills receivable....................................
1868
Payment of interest............................................
1868
Funding bank bills.............................................
1869
Conversion bonds and stocx.............................
Deficiency bonds A stock (act 1 8 7 8 )...............
1878
1874
Consol, bonds and stock (Brown) ..................
1874
Held by E. T. University (not t >be funded)..
Compromise bonds (act of May 20, 1 8 8 2 )___
Settlement bonds, act of March 20, 1883........
do
do
5 & 6 per cents
Texas—Funding State debt lact May 2 ,1 8 7 1 )...
Frontier def’se, gold, act Aug.5,’70(red’ble *91)
Revenue deficiency bonds, act Dec. 2, 1871..
Bonds, act Mar., 1874 (for paying float’g debt)
Redemption of debt, act Aug. 6, ’76 ................
Bonds, act April 21,1879..................................
Bonds issued to School Fund............................
Amount
Size or
outstanding.
par
Value.
Principal—When
due.
N. Y., Nat. Bk. of Republic.
1909
Cps. since July ’68 unpaid.
1868 to ’98
Raleigh, State Treasury.
1884 to ’85
do
rto
April 1, 1919
Cps. since J u ly’68 unpaid.
1868 to ’98
Coup, of Jan.’69Asincennp.
Oct., 1898
Cps. A & 0 ’69 A Ap ’ 70 unp.
1898 to ’99
S. Y., American Exch. B ’k.
July 1, 1888
do
do
July l , ’89-’99
Phila., Farm. A Mech B’k.
Feb. i, 1902
do
do
Aug. 1. 1904
do
do
Feb. 1, 1912
do
do
Aug. 1, ’68 to ’92
Harrisburg, Treasury.
Feb. 1,1922
Providence, R. I.H. A T. Co.
July 1,1893
do
do
Aug. 1, 1894
Columbia, State Treasury.
1871 A ’81
Columbia and New York. J’ly 1,1887 t o ’97
Columbia, Treasury.
.T’ly 1,1875 t o ’79
Columbia and New York.
July 1,1888
do
do
July 1, 1888
do
do
July 1, 1889
do
do t
July 1, 1882
do
do
July, 1888
N. Y., National Park Bank.
July 1, 1893
July 1, 1914
1892,"’98, 1900
Nashville, Treasurer.
Various.
New York, Cont’l Bank.
Jan. 1, 1912
Nashville.
July 1, 1913
do
July 1, 1913
State Treasury.
1891
New York, Bank or N. Y.
1911
do
do
1892
do
do
March 1, 1904
New York A State Treasury.
July, 1906
do
do
1909
State Treasury.
Matured.
1886 to ’95
1886
1905
1905
Richmond, Treasury.
1919
1919
July l, 1932
T e n n e s s e e .—A funding law was passed (act of May 20, ’82i without
$565,500,687 in 1885; $554,828,114 in 1884; $548.495,069 in 1883.
the tax-receivable coupon clause, and giving new bonds at 60 per oent
State school tax, $2 50 per $1,000.
of the principal and interest of old, the new bearing 3 per cent in 1882,
New York..—The financial condition of the State has been fortified by 83, 4 per oent in 1884 and 1885, 5 per cent in 1886 aud 1887, aud 6 per
the payment of all debt except as above. The sinking funds October, cent 1888 to 1912. Exchanges were made in New York July, 1883,
1886, amounted to $5,051,073. The new Capitol building has cost and $-<,224.351 of these compromise bonds were issued. The Legisla
the State thuaffar $17,863,401, paid for by taxation. Valuations and ture of 18^3 repealed this law and passed a new one adjusting the debt
State tax rate per $1,000 in 188« and for three years previous were:
on the basis of new bonds at 50 per cent of the face value or old, and
Real estate.
Personal.
State tax. bearing 3 per cent interest; the old State debt proper of $2,118,000 was
1 8 8 0 ............................. $2,315,400,526
$322,468,712
$3-50
made an exception, and new 5 and 6 per cent bonds were issued for that
345,418,361
2-57^
1884 ............................ 2,669,L73,311
at the face value. The compromise bonds of 18s2, 3, 4, 5 ami 6 per
1 8 8 5 ... ....................... 2.762,348,000
332,383,239
296
cent bonds are fundable into the new set lement 3s. at five sixths of
2,899,899,062
324 783,281
2 95
1 8 8 6 ..............
the face and interest, up to and inclusive of July, 1883. coupons—thus
North Carolina.—Interest was paid up to January 1882 on the $1.000 compromise bonds receive $858'33 in new 3s, and interest sinoe
bonds issued to No. Car. RR., as the State holds $3,000,200 stock and re July, 1883, pai l in cash. All the settlement bonds are redeemable at
ceives dividends thereon. The old North Carolina RR. construction option of the State after July 1,1888. Assessed valuations and tax rate
bonds are exchangeable for the new 6s, due 1919 (see V. 35, p. 132). and per $1,000 have been as follows :
Real estate.
Other property. Railroad prop’ty. Tax rate.
many nolders have already so excbanged. The funding law of March 4.
1879, provided for funding old ante-war bonds at 40 per cent of the face 1881
.................. $200,007,214
$25,282,659
$ ................
value; “ New” railroad bonds recognized as valid at 25■per cen t: fund 1882
.................. 195,383.568
26,546,245
..................
ing bonds of 1866 aud 1868 at 15 per oent. Nothing for overdue cou 1883 ___ 195.753,4L4
26,884,459
31,547,209
3-00
pons. Coupons of the new bonds are receivable for taxes. The term for 1884 ....... 200,212,900
26,631.284
34,350,170
300
funding ended; but has been continued probably till March., 1889. If
T e x a s .—The old high-rate bonds were redeemed and lower interest
all were funded the new 4 per cents would be $3,589,511. Special bonds issued. Assessed valuations and rate of tax per $ l ,000 have been:
tax bonds were ignored; also bonds to Chatham RR., 1868, $1,030,01)0,
Real estate.
Personalty.
Total val’ation. Tax rate
and to Williamston A Tarb. RR., $150,000, and for Penitentiary under Years.
$169,767,572
$419,925,476
$3
acts of 1868. The special tax bonds are in 3 classes, class 1. bearing 1882.. .. $250,157,904
18
8
3..
..
298.959,253
228,578,137
527,537,390
3
the coupon of April 1869 and since; class 2 of Oct. ’69; class 3 of Apl ’70.
.. 347.846.953
255,213,964
603,060.917
3
In June, ’t7, U.S. Circuit Court decided in favor of special-tax bondhold- 1884..
1885..
..
37
',800,594
245,121,395
621,011,989
3‘75
holders, and in July, ’ 87, Messrs. Morton, Bliss & Co. were negotiating
18 8 6..
.. 395,211,678
235,313,445
630,525,123
375
a settlement on the basis of a new 4 per cent bond.
Assessed valuation of real estate is about 60 per cent of true value.
V irginia.—The old bonds two-thirds fundable and the sterling
Valuations and tax rate per $1,000 have been:
bonds carry couj$>ns from July 1869, except the years 1872-3-4. The
Real estate.
Personalty. Total val’ation.Tax $ l ,000 consols, of 1871 carry coupons of Jan. 1875 and since. The 10-40s carry
Years.
Jan. 1881 and since; but the consol, and 10-40 coupons being tax$62,995,728
$167,738,639
$2-80
1881- — $104,742,911
receivable, these bonds are generally sold with matured coupons
71,389,341
180,377,525
108,988,184
2-50
1882.—
off.
The first funding law of March, 1871, allowed holders of
77,087,346
201,222,723
124,135,377
2-50
1883....
bonds to fuud two-thuds of their debt into new 6 per cent bonds, bear
209,569,096
82,613,417
126,955,679
2-50
1 8 8 5....
ing
coupons
receivable for taxes, and receiving for the other one-third
20 ¿,000,000
2-50
1 886....
of their principal a “ deferred certificate,” to be charged to West Virginia.
—(V. 44, p. 744; V. ¿5 , p. 53.)
The act of 1872 repealed the tax-receivable clause of the law, and the
Ohio.—Ohio had a State debt of only $3,341,665 in September, 1887, bonds issued under it were called “ Peelers.” The McCulloch law of
but large local debts, amount ng in 1887 to $53,528,38.’ , against $25,- March 28, 1879, authorized the 10-40 year bonds, bearing 3 per cent
957,588 in 1875; this increase being mainly in city debts. Valuations in for 10 years, 4 per oent for 20 years and 5 per cent for 10
Ohio have been as follow s:
years, coupons tax-receivable. In February, 1882, the Riddleberger
Real estate.
Personalty. law for re-adjusting the debt and the laws familiarly known as
Real ostate.
Personalty.
1866. $663,647,542 $442,561,379 1883.
$1,131.058*750 $542,207,121
“ Coupon killers,” were passed (see V. 34, p. 88. The Riddleberger
1880. 1,102,049,931 456,166,034 1884. 1,145,475,210 528,298,871 act provided for the issue of new bonds, dated July 1, 1882,
1881. 1,101,457,383 485,750,196 1885. 1,160.165,882 509,913.986 into which all others could be funded at specified rates below par, varying
1882. 1,116,681,655 518,229,079 i 1886. 1,173,106,705 515,569,463 from 47 to 31 on the different classes. This law was also amended
—State tax rate per $l,000for ’86-87, $2‘90. (V. 43, p. 775.)
and all bonds offered for funding after Jan., 1885, were required to
Pennsylvania.—Revenue is raised principally from corporations. carry the coupon of that date. The Supreme Court of the United
Taxes are levied on personal property. The rate per $1,' 00 in 1886 States held (V. 36, p. 285), that the law requiring the validity of the
was $3. Sinking fund, Nov., 1886, was $10,180,746, including $5,305,- coupons to be established before a State court did not impair the contract
814 in U. 8. govts. Any coupon bonds may be changed to registered. making them receivable for taxes, and was therefore constitutional, but
the question was again before the U. 8. Supreme Court in April, ’85, when
Real estate valuation in 1884, $1,600,000,000.
that Court held that a tender of coupons in payment of taxes was suffi
Rhode Island.—The debt was all created for war purposes. In cient for the property owner. (See also V. 42, p. 188.)
January, 1887, the net debt, less sinking fund, was $772,000. The
A movement was begun in 1885 to procure an adjustment of the
State valuation of real property up to 1887 was $328,530,559; tax rate, “ Deferred” bonds or certificates by the Legislature of West Virginia
$1 20 on $1,000.
and the holders of some $-‘,000,000 deposited their bonds with the
South Carolina.—The funding law of Dec. 23, ’73, provided for Farmers’ Loan & Tr. Co., and the certificates of that Co. were listed at
scaling down the old debt 50 percent. The consols were again “ re the Stock Exchange.
In May, 1887, the negotiations with English bondholders for a settle
adjusted ” in 1879. The several acts were passed Dec. 3, 1873, Dec. 24,
1878, Deo. 24, 1879, and February, 1880. In July, 1887, there ment failed, though liberal concessions were offered by the bondholders.
were green consols not yet exchanged, $826,171, less amount invalid.
A ssessed valuations have been as follows:
$631,373. The old issues yet fundable on July 1, 1887, were $454,149. Years.
Real Estate.
Personalty.
Total.
Tax Rate.
1882.... $232,386,357
$77.666,765
$310,053,121.
$4 00
Valuations and rate of tax per $1.000 have been:
236,368,227
81,789,710
318,157,937
4-00
Years.
Real estate.
Personalty.
Railroads.
Tax rate. 1883 . . .
1884 ..
239,826,000
88,974,040
328.800,040
4-00
1882-8 3 ... $77,609,666
$41.785,768
$13.767,400
$5 00
1885 .. .
256,916,140
84,884.270
341,800.410
4-00
1883- 8 4 ...
87,131,400
48,249,939
15,227,964
5-. 0
l>-86....
57,607,935
83,152,971
340,760,906
400
18848 5 ... 87.559,538
46.904.705
15,263,366
550
—(V. 43, p. 432, 446; V 44, p. 451, 495, 527, 572, 627, 732.)
18858 6 ... 86,114.852
42,836.288
15,521,041
5 25
$3-00
2-00
CITY SECURITIES,
S e p t e m b e r , 1887. J
7
Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered In these Tables.
DESCRIPTION.
For explanations see notes on first page of tables.
Date of
bonds.
Albany, N. T.—Purchase Congress Hall Block..
1866
City improvement............................................... 1870-’71
Washington Park............... . ................................ 1870-’ 82
New Post Office site............................................
1874
Water debt ($400,000 due 1900-3, are 7s)........ 1874-’80
New City Hall......................................................
1882
South Pearl Street b on d s..................................
1882
Bonds loaned to Albany & Susquehanna R R ..
1865
1867-’72
Atlanta, Oa.—Bonds for streets, floating debt
Bonds for A. L. Railroad and State House___ 1869-’70
Bonds for West. RR. and floating debt............ 1870 A ’72
1874
Bonds, 1st and 2d series, waterworks.............
Redemption bonds..............................................
1877
do
..............................................
1881
Bonds to fund floating debt...............................
1879
1884
Capitol bonds.......................................................
Redemption bonds............. .................................
1886
Augusta, Oa.—Bonds for various purposes........ Various.
Baltimore—Consolidated loan of 1 8 9 0 ............. Various.
Water loan, reg. stock, red. at will after 1916
1877
Funding loan, reg. stock, tax f r e e .................
1878
1863
Consolidated bounty loan.................................
1865
Exempt bounty loan.........................................
1860
Public parks (Druid Hill).................................
1863
Park improvement loan....................................
Patterson Park exten sion ...............................
1853
Five million loan to Baltimore & Ohio R R ...
New City Hall..................................................... 1870-’74
1881
Paving loan.........................................................
1870
Funding loan........... .......................................
1872
Western Maryland Railroad............................
Jones’ Falls ($957,000 are 5s&$390,000 3‘65s) 1872-’84
1885
do
...................................................
1874
Water loan ($263,000 only are 6 s ).............
1880-4
Harford Run improvement lo a n .................
1882
Western Maryland RR. loan............... .........
1887
do
do
..........................
......
Endorsements for Western Maryland R R ..
do
do Union Railroad...............
1872
Bangor, Me.—City debt proper.......................
1885
Refunding bonds..... ................. ............. .
1874
Municipal loan..............................................
1875
Water loan bonds, coup. (Act Feb. 22, 1875).
1869
European & North American Railroad.......
1869
Bangor & Piscataquis Railroad...................
Bath,Me—Fund.debt($78,000are5s,’97, J.&J.)
Knox & Lincoln RR.. for stock and coupons
1861
Androscoggin RR. (guar, by Maine Cent. RR.
Knox & Lincoln Railroad ($23,750 each year)
1869
do
do
. (F.&A. and M.<teS).. 1871-’72
Railroad refunded........................... ..................
Boston—City debt and Charlestown................. 1804 to ’80
City debt registered............................................ 1878-’82
1879
do
do
........................ ; . . . . ......... .
1885
do
..... .................. .....................................
1885
do
..............................................................
1885
do
.................................................. ...........
City d e b t.............................................................. Various.
1-87
Suffolk County Court H ouse.............................
....
West Roxbury.................................. ................. ,
1873
Burnt district, sterling loan...............................
Consolidated street improvem’ t, sterling loan,
1869
1887
Mystic water debt, assumed, part renewed... 1862 to ’ 86
Coohituate Water loan, 6 per cent.................... 1867 t o ’76
5 per c e n t .................. 1875 & ’ 78
do
do
4 per cen t...................
1878
do
do
Sterling.....................
1872
do
do
5
per
cent
gold..........
do
1875-’7G
do
1879
do
4k
do
..........
do
.......... 1879-’80
4
do
do
do
4 per cent.................... 1883-84-85
do
do
3 hs per cent................ 1884-85-3’,
do
do
1837
3 per cent...................
do
do
1861
Brooklyn—Brooklyn local improvement loan..
1856
Mount Prospect Square loan
1865
Soldiers’ aid fund loan........
1866
Gowanus canal improvement loan, local
do
do
1865
do
Bush wick avenue
do
do
1863
do
BouthSeventh st.
do
do
do
1868 & ’69
Fourth avenue
do
do
1867
Wallabout Bay
1870
New York Bridge loan, registered and coupon
Bonds for N. Y. & Brooklyn Bridge, cp. or reg 1875-’83
1860 t o ’73
Prospect Park loan, reg. & coup......................
Prospect Park loan........................................... . 1860 to ’72
Size or
Amount
par
outstanding.
value.
$1,000
1,000
1,000
1,000
1,000
1,000
Rate.
IINTEREST.
When
Where payable and by
whom.
Payable
Principal—When
Due.
. .
$127,000
6
F. & A. Boston, Merchants’ Bank. Feb.. 1888 to ’94
418,000
New York.
M. & 8
1887 to 1900
7
1,058,000 4, 5, 6, 7 M. & N. New York and Albany.
1910- ’21
115,000
7
M. & N. N Y., Merchants’ Nat. Bk.
May 1,1904
1,089,000
6 & 7 F. & A.
1894 to 1912
do
do
145,000
J. & J.
do
do
July 1,1905 t o ’ 10
62,000
4
Albany.
Nov. 1, 1888
858,000
6
1,000
M. A N. N. Y., Del.& Hud. Canal Co.
1895-’97
500 &c.
349,000
8
J. & J. New York, Park Bank,
J. & J., 1892
400,000
1,000
7
J. & J.
do
do
J. & J., 1890
318,000
500 &c.
8
I. & J.
do
do
Jan. 1, 1902
427,000
7
1,000
J. & J. New York, Fourth N. Bank.
Jan, 1,1904
77,500
J. & J.
500 Ac.
8
Atlanta or New York,
Jan. 1,1897
120,500
5
Various
1,090
do
do
19111915
6
335,000
J. & J. New York, Park Bank.
Jan., 1888-1896
6
55,000
J. & J. New York and Atlanta,
Jan. 1,1914
1,000
141,000
do
do
4 k J. & J.
July 1,1916
6 & 7 Various
100 Ac.
2,256,000
Augusta, Treasury.
1887 to 1915
6
100 Ac.
7,306,546
Q .-J . Balto., Farm. & Plan. Bank.
July 1,1890
5
M. & N. Balto., Nat. Mechanics’ Bk.
5,000,000
100 &c.
July 1,1916
5
100 &c.
1,000,000
M. A N.
do
do
After July, 1916
6
M. & S.
100 &c.
2,211,068
do
do
Sept. 1, 1893
410,353
6
M. & S.
100 Ac.
do
do
Sept. 1, 1893
555,566
6
Q.—M.
do
do
100 Ac.
Sept. 1, 1890
185,723
6
do
do
100 &c.
Q.—J.
Jan. 1, 1895
200,000
4
Q .-J .
1920
100 &c.
5,000,000
6
Q.—J. Balto., Farm. & Plan. Bank.
Jan. 1, 1890
do
do
100 &c.
1,500,000
6
Q.—J.
1900 and 1902
4
100 Ac.
700,000
M. & N. Balto., Nat. Mechanics’ Bk After Nov. 1,1920
100 &c.
800,000
6
July 1,1900
Q .-J . Balto., Farm.& Plan. Bank
100 &c.
1,000,000
6
J. & J. Balto., N. Mechanics’ Bank
Jan. 1,1902
do
do
100 Ac.
2,027,000 3-65,5&6 Q .-F .
April 9, 1900
do
do
100,000
Q .-F .
3
1900
do
do
100 Ac.
5,000,000 4, 5 & 6 J. & J.
July 1, 1894,1922
do
do
4
100
600,000
J. & J.
After Jan. 1,1920
100 Ac.
684,000
4
July 1.1925
100
1,700,000
Jan. 1,1927
344 J. & J. Balto., Farm. & Plan. Bank,
m
6
J. & J. Balto., N.Mechanics’ Bank. Jan. 1, ’ 90 & 1900
875,000
6
J. & J. Baltimore, Franklin Bank,
117,000
Jan. 1, 1895
1,000
7
Various Boston, Merchants’ N. B’k,
50,000
1892
do
do
4
M. & N.
500 Ac.
50,000
Nov.,1887 to 1891
do
do
1,000
6
J. & J.
100,000
Jan. 1,1894
do
do
500 Ac.
500,000
6
J. & J.
July 1, 1905
do
do
1,000
6
J. & J.
Jan. 1, 1894
1,000,000
do
do
509 &0.
April 1, 1899
925,000
6 & 7 A. & O.
City Treasury,
Various.
180,500 4 k A 5 M. & S .
1897 & 1902
do
Various
Various.
137,000
6
1898
do
Various.
A. & O.
6
Jan. to Oct. 1891
425,000
do
Various. j
J.
&
J.
July
1,1888
t o ’99
S
6
354,300
do
Various.
1891 & 1902
Various
1
6
do
4
J. & J.
1902 to 1920
382.850
1,000
Various Boston, Treasurer’s Office,
9,060,500
6
1887 to ’97
do
do
9,848,000
4
Various
1887-1914
do
do
4
*ag.
A.
& O.
450,000
Oct., 1889
do
do
1,391,000
1896 to 1916
313 Various
do
do
1896 to 1916
109,000
3k
do
do
3
947,000
Various
1895 to 1906
do
do
5
230,000
Various
Various.
do
do
800,000
April 1, 1937
3 k A. & O.
do
do
100,000
7
1888 to 1891
Various
£100A<3 4,997,604
April. 1893
5 g- A. & O. London, Baring Brothers,
do
July, 1899
£100Ao
2,834,585
5 g. J. & J.
1,000
1 9 lt A 1937
900,000
3 k J. & J. Boston, Treasurer’s Office.
do
do
1,000
1887 to 1916
789,000 3 k to 6 Various
do
do
Various
1897 to 1908
4,897,000
6
do
do
1907-1908
13,000
5
Various
do
do
588,000
A. & O.
1908
4
£100 A'o 1,947,274
Oot., 1902
5 g- A. A 0. London, Baring Brothers,
Boston, Treasurer’ s Office,
3,552,000
5 g.
1905-1908
1909
do
do
268,000
4kg. A. & O.
1909-1912
686,000
do
do
4 g. A. & O.
19131917
1,828,000
4
Various
do
do
1914- 1917
575,000
3 k A. & O.
do
do
April, 1917
do
do
200)000
3
A & O.
1891
Brooklyn,
1,000
213,000
M. & N.
7
3 ¿s
1887
do
1,000
90,000
6
J. & J.
S
E
f-i
p
Jan. 1, 1888 t e ’94
do
1,000
394,000
7
J. & J.
July 1,1888 to 90
do
1,000
15,000
J. & J.
7
1887 to '90
do
1,000
• 68,000
7
J. & J.
188 7 t o ’90
1,000
do
75,000
J. & J.
7
1887 to ’89
1,000
174,000
do
6 & 7 J. A J.
July 1, 1888
de
1,000
72,000
J. A J
7
. äHp.
OD
1899-1924
do
1,000
3,000,000
J. & J.
7
g*a-e
1905 to 1928
1,000
do
9,245,237 4, 5, 6, 7 J. A J.
1924
do
1,000
8,019,000
7
I. & J.
o
1915 t,o ’24
1.000
6
do
1.217.000
J. A .T
Albany,—The loan to Alb. & Susquehanna is secured by first mort-1 sonal, $2,858,797 ; tax rate per $1,000, $22 50. Population, 16,851 in
y in 187u.
gage. The valuation of Albany City m 1886 was,: Real estate, $60,728,- i860,
720; personal, $6,154,270; tax rate per $1,000, $18 40. Valuation in 1
B
a
th
,
M
e .—The city holds a flrst mortgage on the Androscoggin read
1385—Real estate, $60,3« 1,215; personal, $6,044,250; tax rate, $20 60.
f r tne debt, and flrst. second and third mortg’es on the Knox A Lincoln
Population, 90,758 in L880; 69,422 in 1870.
for its proportion of $895,000 out of a total of $2,395,0 *0 ><m<L issued by
Atlanta. —The total bonded debt Jan. 1,1887, was $2,223.000. As several cities in aid of the latter road. There are also $14,000 6s outstand
sessed value of real estate in 1885, $21,023,370; personal. $7,889,269; ing in addition to those above. Tax valuation in l886-e7: Real estate,
tax rate per $1,000, $15. In 1886 real estate, $23,820,524; personal, $2,856,445; personal, $3,3 0,195; tax rate per $L,00 >. $24. Tax val
$7,679,489; tax rate, $15. Population, 37,409 m 1880; 21,789 in uation, 1885-86—real estate, $2.857,870; personal, $3,«41,830. Tax
rate, $24 per $1,000; 1884-85, $2,821,515 real estate and $4,095,820
1870.
Augusta.—Of this debt, $600,000 was issued for railroads, and bal personal; rate, $25.
ance for canal enlargement, waterworks, &c. Sinking funds, Jan. 1,1885,
Boston. —The population of Boston in 1880 was 362,839; in 1870,
$330,000. Taxable valuation in 1885: Real estate, $t 1,468,310; per 250,526. against 177,840 in 1860. The gross debt on May 1,1887, was
sonal, $5,088,430; tax rate, $16 25 per $1,000. Population in 1870, $46,799,963, and the total sinking funds, Ac., applicable to it $19,971,by U. S. Census, 15,389; n 1880, 21,891.
811, leaving the net debt $26,828,151. The law of April 17, 1885,
Baltim ore.—The Balt. & Ohio RR pays interest on $5,000,000. limited the taxation in Boston for city purposes to $9 on the average
Water loan is paid by income of water works, and Public Park by City valuation of five years preceding, to which is added the tax for city debt
Passenger Railway, and against a total debt of $34,955,290 the city is and for State purposes. Up to Jan. 1,1887, the debt was not to be over
chargeable with interest on only $18,698,722, and holds productive 2*3 per cent of assessed valuation, and after that date 2 per cent
assets, including the sinking funds, equivalent to $12,869,848, leaving Assessed valuation on May 1 for four years has been:
on Deo. 31,1886, only $5,828,875 debt over interest-bearing assets.
Real
Personal
Tax
Net Debt.
There are also held $5,789,000 of unproductive securities. Population Years.
Estate.
Estate.
Rate.
Dec. 31.
in 1870,267,354; *u 1880, 332,313. In Jan., 1887, the city issued the 1 8 8 4
.... $488,130,600
$194,526,058
$17 00
$24,766,064
34« per cent bonds to pay off West. Maryland debt. Assessed 1885 ............ 495,973,400
189,605,600
12 30
24,700,014
valuation, near the full cash value, and tax rate have been:
18 8 6
.. 517,495,200
193,086,500
12 70
25,882,395
.. 547,170,300
200,454,600
13 40
........
Real
Personal
Total
Rate of Tax 1887
Years.
Estate.
Property.
Valuation.
per $1,000.
B rooklyn. —The whole citv debt was as follows Jan. 1,1886 and *87*
1883
.$189,911,494
$58,889,738
$248,803,232
15 00
Jan. 1,1886.
Jan. 1,1887*
1884
191,516,113
58,135,586
249,651,699
16 00
Permanent d eb t...................................... $26,264,543
$26,077,543
1885
195,416,894
59,496,377
253,913.271
16 00
11,645,500
10,893,500
Water loan..................................
1886
............ ........
..................
256,240,655
17 00
Debt payable from assessments ...........
2,618,000
1,640,000
—(Vol. 43, p. 693, 738.)
Tax certificates.................................
3,000,000
2,000,000
Bangor, Me.—The loans to Eu. & No. Am. R. R. to Bangor A Pis. R.
Gross d eb t............................
$43,528,043
$4 ,611,042
R. are secured by flrst mortgages on those roads, and interest fuLv paid
7,121,271
1,986,219
from the earnings The valuations (near full value) in 1886 were: Real Less sinking fund......................................
estate, $6,693,650; personal, $2,831,765. Municipal property, in
cluding water works, $810,000. In 1887, real estate, $6,770,998; perNet debt............................................. $36,406,772
$33,624,823
8
INVESTORS’
SUPPLEMENT,
[Vo*. XLV.
Subscribers w ill confer a great favor by giving immediate notice o f any error discovered in these Tables
DESCRIPTION.
Date of
l'or explanations see notes on first page of tabless
Brooklyn—( Continued, 1—
Permanent water loan............................... .
Sewerage fund bonds, continuous, local.......
Assessment fund bonds, continuous, lo c a l..
Temporary tax certificates..................... ..
Certificates of indebtedness...........................
Bonds to pay arrears to cou n ty....................
Arrearage bonds, reg. (redeem, in 1894)___
Award bonds for lands taken.........................
Buffalo, A. r .—Funded debt bonds..................
Waterworks bonds.........................................
Tax loan bonds.................................................
Cambridge, Mass.—City bonds..........................
City bonds.........................................................
do
.........................................................
do
.........................................................
do
..................................................... .
do
.........................................................
Water loan..... ............. ....................................
do
(only $12,500 are 5s)..................
do
.........................................................
Charleston, S. O.—Fire loan bonds, coupon .. .
Amount
Size or
par outstanding
Value.
Rate.
INTEREST.
When
Payable
Whom.
Principal—When
Due.
$1000 $10,893,500 3 to 7 J. «& J
Brooklyn. •HÄ j) k j
1887 to 1916
1,000
72,000
3^2 J. <fe J
do
3 years from date.
1,018,000 3ia <fe 4 J. <fe J
1,000
do
3 years from date.
1,000,000
3ifl J. <fe J
do
s S * £ S 1 3 years from date.
___
887,305
4
J. <fe J.
do
1887 to 1905
s 1 *r&a i
549,000
....
4
J. <& J.
Q*S >>+2 ® I
do
1924
2,350,000 3 ^ <fe4 J. <fe J.
do
1924
200,000
....
4
do
»3 «
1893
l.OOO&c 5,059,936
.
3 to 7 Various Buffalo and New York.
1887 to 1926
2,628,382 3iflto7 V arious
l,000«fec
.
do
do
June, 1888 to 1909
l,000&c
41 6,208 3 <fe 4*2 J. <fe J.
.
do
do
July 1 ,’ 88 to 1900
100,000
1,000
5
A. <& O. Boston, Bank Redemption.
April 1, 1889
150,000
1,000
5 g. J. <fe J. Boston, Tremont Bank.
Jan. 1,1893
347,000
500 &c.
6
.
J. <fe J. Boston, Bank Redemption.
1890 t o ’96
689,000
500 &c.
.
6
J. <fe J.
do
do
July, 1903-4-5
___
,
265,000
4
do
do
1895 <fe 1905
É
....
25,000
do
do
3*2
Nov. 1. 1896
6
Various
. 1868 t o ’77 500 «fee. 1,161,000
do
do
April, 1888 to ’97
___
336,500
1,000
4 <fe 5 . ___
do
do
1894-’98-1910
___
.
218,000
....
do
do
3^2
1906 and 1911
....
92,800
7
J. <fe J.
1866
Charleston, Treasury
1890
500.000
....
A. <fe O.
7
do
1888 to 1897
do
do
109,500
....
do
6
A. <fe O.
1878
do
Oct., 1898
do
coup, or reg. ...
100 &c.
3,414,100
4
1879
J. <& J.
do
July 1, 1909
363,800
Chelsea, Mass.—Sinking fund bonds.
6
1887 to 1908
5,000
Bonds.................................................
5*2
April 1, 1888
___
.
997,000
1,000
Funded debt, coup..........................
6
Various Boston, N. Bk. Redemption Aug. 1,1891 to ’95
96,000
do
notes............................
4^2 Various
Sept. 1,1889-1890
100,000
1,000
Water loan, coup............................
6
.
....
F. <fe A. Boston, N. Bk. Redemption
Aug. 1, 1897
___
132,000
500,&c.
6
Chicago—Vi ater loan...........................
J. <fe J. N. Y., Am. Ex. Nat. Bank.
1897 «fe’98
.
___
3,490,000
1,000
Water loan........................................
7
J. <& J.
do
do
July 1, ’ 88 tò ’95
333,000
Water loan (refunding)..................
100, «fee.
1882
3-65 J. <fe J.
do
do
1902
.
1,675,000
Sewerage bonds...............................
500 &c.
7
J. <fe J.
do
do
1888 to ’95
489,500
do
...............................
1880
do
4*2 J. <& J.
do
July 1,1900
«'
River improvement bonds.............
2,608,000
i,6 ’o o
7
J. & J.
do
do
1890 to ’ 95
.
___
Municipal bonds...............................
1,000
186,000
6
J. <& J.
do
do
July, 1895 <fe ’96
Municipal and School bonds..........
2,536,500
500 &c.
7
J. <& J.
do
do
1887 to ’99
843,500
Municipal bonds (refunding loa n ).
....
4
1881
do
do
1901
Cook County debt............................
. 1865 t o ’80 500 «fee. 4,941,500 412 to 7 M. «& N. N. Y., Metropolitan Bank. May 1 , 1887-’92
250,000 7 3-10 J. <fe D. N.Y., Am. Exch. Nat. Bank.
1,000
V
1868
Juné, 1888
150,000
1,000
9
1869
7 3-10 J. <& D.
do
do
1889
98,000
1,000
6
5
1863
J. <fe J.
do
do
Jan., 1890
1,000
194,000
6
M. <fe N.
1855
do
do
Nov., 1890
397,000
6
A. <fe O. Phila., Bk. of North Amer.
1847 t o ’50 500 &c.
April, 1895
171,500
6
M. <fe N.
1847 t o ’48 500 &c.
do
do
May, 1897
750,000
1,000
2 1867-’68
7 3-10 Various N.Y., Am. Exch. Nat. Bank.
1897 <&1898
60,000
j
1853
1,000
6
J. <& J.
do
do
Jan., 1900
175,000
" 1851-’53
1,000
6
Various Phila., Bk. of North Amer. June <fe Oct.. 1900
1,000
131,000
M. <fe S.
1858
6
Cincinnati.
Mar., 1888<& 1908
150,000
1,000
1869
7 3-10 M. <fc S. N. Y., Am. Exch. Nat. Bk.
Sept., 1899
150,000
1869
1,000
7 3-10 M. <fe S.
do
do
Sept., 1899
1,000
100.000 7 3-10 A. <fe O.
1869
do
do
Oct., 1899
300,000
1871-’72
1,000
F. <fc A.
7
do
do
Aug., 1897
1,000
600,000
1871
7
J. <fe D.
do
do
Dec. 1,1891
Cincinnati Southern RR.........
500 &c.
8,191,000
1872
7 3-10 J. <fe J.
do
do
July 1, 1902
do
do
($2,880,'
500 &c.
4,825,000 6g. or 7-3 M. <fc N.
1876
do
do
May Í, 1906
do
do
...............
2,260,500
1878 «fe ’79 1,000
6 <fe 7 Various
do
do
190.--1908-1909
Floating debt bonds, coupon.
1,000
M. <fe N.
1874
995,000
7
Cincinnati.
May 15,1904
Park improvement..................
65,000
1875
1,000
7
J. <fe J. IS. Y., Am Exch. Nat. B’k.
1890
F. <fe A.
200,000
1875
1,000
7
Cincinnati.
Aug.,’90 «fe’9ft
1879
175,000
1,000
5 <fe 6 M. <&N. ST.Y., Am. Exch. Nat. Bank May 1889-1909
50,000
M. <fc N.
1876
7
Cincinnati.
May 1,1906
F. «fe A.
76,000
7
Aug. 1, 1897
Street improvement bonds, short.
1876 to ’83 Various
884,067
5 <&7 Various
Cincinnati.
1887 to ’95
1880 <&’81 1,000
2,067,000
4 <&5 Various [S. Y., Am. Exch. Nat. Bk. 1930 <& 1931
64,708
4 <fc 5 Various
1889 <&1890
Work House and Infirmary..........................
1882
79,000
100
4 <fe 6 J. <& J.
Cincinnati.
July 1,1887to 92
Deficiency loan (redeemable after 1891) . .
500,000
1881
4
J. <fe D. S'. Y., Am. Exch. Nat. Bk.
100 «fee.
June l, 1901
Deficiency and pavement bonds (10-20 yr.)
2,473,000
4
Various
1885-’86.
1905
Cleveland—Water works ($200,000 are 6 p. ct.). 1872 t o ’84 1,000
1,775,000 3-65 to 7 Various S. Y., Am. Exch. Nat. Bk.
1892 «fe 1903
Funded debt___^................................................. 1872 to ’»4 1,000
do
1,8 23,000 4, 5, 6, 7 Various
do
1887 t o ’97
Lake View, Wade and Monumental parks__ 1872 to ’87 1,000
322,000
do
6 <&7 Various
do
1887 t o ’92
Canal and canal lock ($11,000 are 6 s ) ............. 1874 t o ’87 1,000
275,000
do
do
6 <fe 7 Various
1894 t o ’98
School........................................................ ..........
1,000
35,000
7
A. <fe O.
do
1871
do
1888
General bonds, various purposes..................... 1885-86
250,000
do
1,000
do
1888-1895
4-412 Various
Viaduct (mostly F. & A., A. & O. and J. <fe D.) 1873 to ’78
2.138,000 5, 6 <fe 7 Various
do
do
1893 <fe 1907
Elevated Roadway.............................................
1,600
335,000
4
do
1836
Various
do
1902-3
.
Special bonds....................................................... Various.
572,300
do
do
4, 5, 7 Various
1887-’95
Kingsbury and Pearl Street Bridges................ 1884-5-6
do
1,000
225,000 4, 412. 5 Various
1899-1902
do
Des Moines, Iowa—'¿A renewed judgment bonds
4*2 J. <fe J. N. Y., Coffin <fc Stanton. 1905, payable ’ 90
1885
1,000
228,000
Fun dine bonds, redeemable 1878.....................
J. <fe D.
do
do
1878
1,000
175.000
7
luly, 1889, o r ’98
Warrant funding bonds......................................
1886
do
do
1906,
red. at option
22?>,000
412 H. <& N.
Detroit,Mien.—For Water W.Co., on city’s credit 1855 t o ’81 >00, «fee.
1,451,000
1887 to 1906
4 to 7 Various! N. Y., First Nat. Bank.
Public Building stock (City Hall) bonds.......... 1863 to ’73
do
357.500
7
Various!
do
Apr.
1,1889
t o ’93
—
1857 t o ’75
Various.
Various.
Various.
1884
1884
1884
1883
1870 t o ’86
1870 to ’86
1880 t o ’86
1864
1863
1870 to ’76
1873-’74
___
Population in 1870, 396,099, against 566,663 in 1880. Valuation oi
property and tax rate per $1,000 have been:
rears.
Real.
Personal.
Rate.
1885
........................... $311,308,060
$19,375,702
$29 00
1886 ..................................... 336,221,357
22,049.310
26 50
1887
.............. ............ 339,922,812
14,217,276
.......
1888
........................... 362,138,56 3
21,685,597
.........
The debt of Kings County, separate from the debt of Brooklyn, is
about $4,000,000, of which the city is responsible for fr oths.
B uffalo,—Valuations and tax per $1,000 have been:
Years.
Real estate.
Personalty. Tax Rate.
1883 .......................................... $93,167,090
$8.796,675
$16 27
1884 ................' . ....................... 96,341,455
8,459,735
16 44
1885 ................i ........................ 99,912,470
8,461,675
17 21
1886 .......................................... 113,963,945
8,405,225
17 27
Buffalo also pays 77-100 of Erie county debt. Coupon bonds are exchange
able for registered. The interest on different bonds is 3^ . 4, 4 ^ , 5, 6
and 7. Population, 202,818 in 1885; 154,766 in 1880; 117,714 in 1870.
C a m b r id g e « M a s s .—The sinking funds, Nov. 30, 1886, amounted to
$1,299,188, and net debt to $2,208,311. The investments are nearlyall
in city bonds at par and stamped “ not negotiable. Valuation, 1885,
real estate $42,588.300; personal $12,758,255; total, $55,346,555; tax
rate, $155. Valuation in ’ 86, $44,955,200 real estate and $14,490,470
personal; total, $59,445,670; tax rate, $1 50 per $100. Population,
52,669 in ’ 80; 39,634 in ’70.
C h a r le s t o n , S. C .—The bonds of Charleston are mostly held within
the State of South Carolina. Conversion bonds of 1878 and 1879 are issued
in exchange for city stock. Valuationsandtaxrateper$l,OOOhavebeen:
Years.
Real Estate.
Personal Prop.
Tax Rate.
1884
..........................$16,246,865
$8.186,216
$20 00
1885
.................. .-..... 16,753,760
8,138.153
20 00
1886
.......................... 16,933,565
7,809,212
........
—Population, 49,984 in 1880; 48,956 in 1870.
C h e ls e a , M a s s ,—Sinking fund, Jan. 1, 1887, $365,712, which in
cluded $2.* 4,000 of the above sinking fund bonds, and net debt, $1,296.087. Valuationin 1886, real estate, $16,530,850, and personal, $2,275,812; total, $18,806,662; tax rate, $17 80. Population, 21,782 in 1880;
18,547 in 1870; 24,347 in 1884.
C h ic a g o .—The city debt is limited to 5 per cent of the Illinois State
valuation. Of the funded debt, $3,955,000 is on account of the Water
Works, which vie Id an income much above the interest charge on the debt,
Sinking fund in 1887 was $341,037. Valuations as follow s:
i cars.
Real Estate.
Personal. Tax per $1,000.
884 .................................. $105,606.743
$31.720 237
$35 48
1^85 .................................... 107.146.881
32.811.411
36-81
35,516,009
.........
1886
......................... 122,930.123
28,068.196
1887
.......................... 130,474,379
The assessed value of real estate is about one-third of its true value.
Population in 1870 was 298,977, and in 1880,503,185. The South Park,
West Chicago Bark and Lincoln Park loans are not debts of the city
but of distinct corporations.
Cincinnati.—In addition to the bonds as stated above, city holds
$1,274,000 of Cin. South, bonds m sinking funds and $474,473 Street
Improvement bonds. In 1870 the population was 216,239, against
255,139 in 1880. The following table from the books of the Auditor of
Hamilton County, Ohio, exhibits the assessed valuation of the city of
Cincinnati in the year 1860 and 1870, and from 1876 to 1886:
Personal
Real
Tocar
Tax per
Estate
Estate.
Valuation.
$1,000.
Years.
$31,411,912
$93,032,716
$17 45
1860........ . . . . $61,620,904
.
.
.
.
78,736,482
57,370,754
136,107.236
31 60
1870........
44,908,822
169,534,192
25 56
1884........ .. . 124.625,370
.
.
.
.
127,454,100
42,632,868
170,086,968
26 86
1885........
42,571,661
171,950,031
25 44
1886........ . . . . 129,378,370
174,000,000
1888........
The city is the sole owner of the stock of the Cincinnati Southern Rail
road, leased as per terms, V. 33, p. 281, and with the waterworks and
other property, real estate, and bonds held for investment, has assets
put at $36,554,631.
Cleveland.—The sewer, street improvem’ts and street opening bonds
are for special localimprovements, and redeemed bv assess ments^on the
property benefited. Population, 160,146 in 1880; 92,829 in 1870.
Assessed valuation, tax rate, lebt and sinking funds have been:
Years. Real & Personalty. Tax $ 1,000. General Debt. Special Debt.
1884
$85,978,005
$14-20
$6,386,000
$875,800
1885
. 83,285,845
14-35 •
6,917,000
708,000
1886
. 91,084,406
13-15
8,015,000
695,900
.
.
.
.
.
CITY
S e p t e m b e r , 1887.]
9
SECURITIES.
Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered in these Tables,
DESCRIPTION.
For explanations see notes on first page of tables.
Date of
bonds.
Size or Amount
outstanding.
par
value.
Detroit, Mich >gan—( Continued)—
1872 t o ’86 $1,000
Public sewer bonds ($35,000 are 6s)---1879
Bonds for purchase Belle I s le .................
5,000
1886
Bonds for Bridge.......................................
1886
1)000
Public Improvement..........................
1880
Market bonds....................... .....................
1871 to ’74 1,000
Elisabeth, N. J.—Improvement bonds.......
1870 t o ’75 1)000
Funded debt bonds....................................
1872 to ’73 1,000
School House bonds..................................
1865
t o ’66 i;o o o
Market House bonds................................
1875-’76
1,000
Consolidated improvement bonds...........
1877
1,000
Funded assessment bonds........................
1876
1,000
Tax arrearage bonds................................
1882
New Adjustment bonds and scrip..........
1869 t o ’73 1,000
rie (Penn.)—Water b on d s.......................
1869 t o ’ 73 100 &c.
Improvement bonds..................................
1874 to ’78 100 &o.
Consolidated bonds...................................
1887
do
do ....................................
1887
1,000
Evansville, Indiana—Series A, fund, debt loan.
1887
1,000
Series B,
do
do
1887
l',000
Series C,
do
do
1887
1,000
New Water Works loan................................
Large.
Full River, Mass.—City notes........................
lOOO&c.
City bonds......................................................
1,000
do
1,000
do
......................................................
do
......................................................
do
............................... ......................
1,000
do
(sewer).......... .............................
1)000
Water loan.....................................................
1)000
do
.....................................................
1)000
do
............. ............................-.........
do
....................... .............................
1873
1,000
Fitchburg, Mass.—City bonds.........................
1871
1)000
Water loan..................... ............... ..............
1875
1,000
do
....................................................
1883-6
1,000
do
registered..................................
Qalveston, Tex.—Limited debt bds. (sk’g fd. 2 %) 1877-8-9 100 &c.
100 &c.
do
do
..........................................
1882
Galveston County bonds, G. C. & S. F. R R —
1865-’81
1,000
Hartford, Conn.—Water bonds...........................
1876
1,000
City bonds (H. P. &F. RR.).............................
1868
1)000
Funded debt.......................................................
1872
1,000
Capitol bonds.....................................................
1879-’80
1)000
Hartford town debts to railroads 10-25........
1863
1,000
do
do
war................................
1,000
do
floating debt............................
1864-’79
Hoboken, N. 7.—Bonds............................. ...........
1872
500 &o.
City bonds..........................................................
1877-’79
1,000
School bonds.....................................................
Various. 500 &c.
Water bonds.......................................................
1878-’81
1,000
Improvement bonds........................... .............
1880-’82
1,000
City Hall and Engine House bonds................
1871-’74
Holyoke, M ass—City notes.................................
1874
1,000
City bonds, sinking fund..................................
1872
1,000
Water loan
do
....................................
1873
1,000
Railroad loan do
($60,000 are J. & J.)
500
Indianapolis—Ronds to railroads..................... 1869 t o ’70
1877
1,000
Bonds to Un. RR. Tr. Stock Yard (mortgage)
1873
1,000
Loan bonds, series A .........................................
1874
1,000
do
do B
1874
1,000
do C
do
1875
1,000
D
do
do
1874
500
Purchase-money bonds—Southern Park.
Jersey City—Water loan bonds, mostly coupon 1852 t o ’77 1,000
1869 to ’73 1,000
Water loan bonds,mostly coupon..........
Water loan..................................................
1872
1,000
Forty-year bonds.......................................
1871 to ’74 500 &e.
Improvement bonds..................................
1870
1,000
Morgan street dock..................................
1872
1,000
Funded debt bonds........ ..........................
1864-’65
1,000
Old Jersey City bonds, coupon................
1864-’70 Various
Hudson City bonds...................................
1868-’70 l,000&e
Bergen school loan bonds.....................
l.OOO&c
1869
Bergen street improvement bon d s........
1865
Various
do bounty loan..................................
1875-’76
Assessment funding bonds......................
Temporary loa n ............. ..........................
1,000
1879
Bonds to fund floating debt. <fcc., coup, or reg.
1880-’ l
Bonds to pay maturing bonds, & c.. . . ...
19,9,4City of Jersey City loan...........................
Il875 t o ’81
Kansas City, Mo.—Renewal bonds.............
- . ..
j
1873
Funding bonds...........................................
$391,500
100,000
30,000
370,000
26,000
850,000
435,000
48,000
41,000
764,000
260,000
196,000
(1)
233,000
62,000
527,700
250,000
675,000
350,000
720,000
400,000
311,000
45,000
600,000
450,000
100,000
261,860
125,000
500,000
4o0,000
550,000
200,000
400,000
300,000
100,000
85.000
510,100
818,400
417,000
887,000
500,000
300,000
1,000,000
1,250,000
70,000
203,000
159,000
119,500
43,750
91,500
636,000
75,000
203,000
271,000
250,000
226,500
155,000
500,000
300,000
300,000
300,000
200,000
109,500
984,000
3,329,000
200,000
517,000
5,299,500
125,000
500.000
558,000
100,000
150,000
400,000
41,000
900,000
975,000
1,353,000
600,000
1,000.000
390,000
250,000
D e s M o in e s , l a . —Assessed value of property $11,500,000, which is
about 20 per cent of true value. Population in 1870, 12,035; in 1880,
22,400: in 1887 (estimated), about 45,000. Sinking fund Sept., 1887,
amounted to $40,000.
D e t r o it , M i d i . —There are also $10,000 House of Correction bonds
due 1893. Assets in sinking fund July 1,1885, $838,238; net city debt,
$12,261. The population in 1870 was 79,577; i n ’80,116,340; in 1883,
130.000. The value of water works is about $3,500,000, against
a debt of $1,451,000 September, 1885.
The water works bonds
are issued on a pledge of the city credit, and $75,000 per year collected
in taxes to pay interest on them. Population ia 1886 about 175,000.
Valuations (based on true value) and tax rate have been:
Years.
Real Estate.
Personal.
Total.
Tax Rate.
1884......... $82,793,115
$27,928,880
$110,721,995
$11-41
1 8 8 5..
. . . . 87,536,645
28,713.300
116,249,945
10-77
1 8 8 6 .. .. 100,020,991
33,427,589
133,448,580
10-82
E liz a b e t h , N. J . —Default was made in interest February 1, 1879.
Suits on bonds are pending. Old unadjusted bonds and loans are
$2,592,739. Total bonded and floating debt July 15, 1885, $4,264,640. A proposition to issue 4 per cent bonds at 50 per cent of the face
value of old bonds was made, and a considerable amount of the
new bonds have been issued. The Mercantile Trust Company in New
York acts as the agent. Assessed valuations and tax rate per $L.000
have been as follows: In 1882, $12,182,035, rate, $ *1-20; in 1883, $12,471,115, rate, $26-40; in 1884, $12,341,735, rate, $20-00; in 1885,$12,465,760, rate $26-40; in 1886, $12,628,710, rate, $27-20. Population
880, 28,229; in 1870,20,832; estimated in lS^Oto be 32,600. (V. 44,
p. 211.)
E v a n s v ille ) I n d , —There was default in payment of interest from
April, 1883. In ) 887 the old debt was nearly all funded into the several
issues of bonds above given.
Years.
Real Estate.
Personalty.
Tax.
Debt.
1884 ................ $13,527,090
$6,519,820
$10 00
$1651,000
1885 ............... 13,666,645
6,682,895
10 00
1,651,000
1886 ............... ............. 17,273,310------1867.................. 15,184,693
6.239,810
16 6623
2,145,000
—(V. 43, p. 607; V. 44, p. 335; V. 45, p. 112.)
£#
Rate.
3ia,6 & 7
4
312
3ifl
4
7
7
7
7
7
7
7
4
7
7
7
4
5
4*2
4
6
378, A, 6
6
5 g.
5 &6
4
5&6
3*8
6
6
6
6
6
3*2 & 4
8
5
6
5&6
6
6
6
4^
6
6
6 & 7
7
6 &7
5, 6 ,7
5 &6
5 &6
3 to 5
6
6
7
6
6
7-3
7-3
7-3
7-3
7-3
6
7
5
7
7
7
7
7
7
7
7
7
7
5*2
6
5 &6
0
6, 7 & 8
8
INTEREST.
Where payable and by
whom.
When
payable
Principal—When
due.
F. & A. N.Y., First National Bank. 1892 to *97 & 1906
1899
do
do
F. <fc A.
Jan., 1911
do
do
J. & J.
Dec. 1916
J. & D.
do
do
Aug. 1,1888-1892
1879 to ’81
City Treasury.
Various
1882 to ’95
do
Various
1882 to ’93
do
Various
1882 to *86
do
Various
1885 to ’96
do
A. & O.
1907
do
J. & D.
1886
do
M. & N.
July 1, 1912
J. & J. N. Y., Mercantile Trust Co.
1889 to 1893
New York.
Various
1889 to 1833
do
Various
1894
to l>-98
do
J. & J.
1897 to 1907
do
J. & J.
Jan. 1, 1912
J. & J. N. Y., Winslow, L. & Co.
Jan. 1, 1912
do
do
J. & J.
Julj 1, 1912
do
do
J. & J.
July 1, 1912
do
do
J. & J.
Nov., 1887 t o ’ 92
City Treasury.
Various
1891
do
Various
Aug. 1,1894
Boston, Revere Bank.
F. & A.
May 1,1895
M. & N. Boston, Bank Redemption.
May 1, 1895
do
do
1896-’97-’98
do
do
May 1, 1905
City Treasury.
M. & N.
Boston, Bank Redemption. Feb. 1,1900-1909
Nov. 1,1892-1906
do
do
M. & N.
Aug. 1,1899-1905
do
do
F. & A.
May 1,1908-1909
July 1,1893
J. & J. Boston, Merchants’ Bank,
July 1,1891
do
do
J. & J.
July 1,1905-1906
do
do
J. & J.
1898 «Ss 1903
A. & O. Galveston, City Treasury.
1893-1909
do
M. & S.
1920-1925
J. & D. New York or Galveston.
1902
J. & J. N. Y., Bank of New York.
1890-1906
City Treasury.
Various
Jan. 1, 1891
Suffolk Bank, Boston.
J. & J.
Jan. 1, 1893
City Treasury.
J. & J.
Jan. 1, 1897
do
J. & J.
10 to 25 years
Town
Treasury.
J. & J.
$10,000 yearly
do
J. & J.
Jan., 1900
do
J. & J.
1888 to 1905
Various First Nat. Bank, Hoboken
Oct.
1.1892
do
do
A. & O.
189 2 to 1894
do
do
Various
1890
to 1903
do
do
Various
1898 to 1901
do
do
Various
1902
to 1910
do
do
Various
1887 to 1889
City Treasury.
Various
Oct. 1,1889
do
A. & 0.
Jan. 1,1900
do
J. & J.
Jan.«SsApr.l, 13
do
A. & O.
Jan. 1, 1889
City Treasury.
Jan.
Jan. 1, 1897
J. & J. N. Y., Winslow, L. & Co.
July 1, 1893
do
do
J. & J.
July 1, 1893
. do
do
J. <te J.
July 1, 1894
do
do
J. & J.
July 1, 1895
do
do
J. & J.
Jan. 1, 1899
do
do
J. & J.
J. & J. N. Y., Merch. Ex. N. Bank. Jan., 1889 to 1909
1899 to 1913
do
do
Various
Feb. 1,1913
do
do
July 1,1913
do
do
J. & J.
1891-1892-1906
do
do
Various
June 8, 1900
do
do
J. & J.
May 1,1897
do
do
M. & N.
1889-1890
do
do
Various
1889
& 1900
do
do
Various
Jan., ’98 to 1900
do
do
J. & J.
July,
1889
do
do
J. & J.
1889
do
do
Various
1905-19'
do
do
Various
Demand.
Feb. 1, 1909
F. & A. N. Y., Merch. Ex. Nat. B’k.
1910-1911
do
do
Various
1904
STewYork, NinthJNat. Bank 1895 to ’98 «Ss 1901
May
1,1893
do
do
Fall River, M ass.—The siukingfunas amounted to $331,389 Jan. 1,
1887. Population in 1885, 56,863; 48,961 in 1880; 26,766 in 1870.
Valuation in 1885, $43,815,275.
Fitchburg, M a s s .—Population 12,270 in 1880; 11,260 in 1870.
Assessed valuation of real estate ( about cash value) iu 1383, $3,42L675; personalty, $1,071,833; tax rate, 18-2) per $1,000; in 1887, real,
$3,820,075; personal, $3,125,313; tax rate, $17-40.
G a lv e s to n , T e x a s .—Assessed value of real and personal property,
1886, $21,043,509; tax rate per $1.000, $15-00. 1885, valuation, $18, 588,196; tax rate $15-00. In April, 1882, the Galveston County 10 per
cent bonds, were called in and 6 per cents issued instead. Population
m 1870,13,87 2; in 1880. 22,248; 1886, estimated, 42,000.
Hartford, Conn.—Total city debt, April 1,1887, $2,734,382; net,
after deducting resources, $1,910,172; net town debts, Oct. 1, 1886,
$1,202,758. Assessed valuation in 1836, $15,700,000; in 1885, $45,898,365. P o p u la t i o n , 42,553 in 1880; 37,743 in 1870.
Hoboken, N. J .—The total debt May, 1887, was $1,279,187. Assessed valuations in 1884: Personal, $1,343,941; real estate, $14,672,700; tax rate per $ 1,000, $23-50; population, 35,000. Assessed valua
tions in 1886-7: Personal, $1,414,005; real estate, $15,326,700; tax
rate, $27’00.
H olyoke. Mass.—Bonds all coupon, but can be registered. Total net
debt, $764,500. Valuation, 1885, $16,135,525; tax rate, $17-20. Valu
ation in 1887, $18,122,580; tax rate, $17-00. Population, 21,91am
1880; 10,733 in 1870; 33,000 m 1887.
Indianapolis.—The School Board is a distinct organizat’n and levies
its own tax ($2 20 for 1884), which is included in tax rates. There
are a few other small issues amounting to $50,000. Population, 75.056
in 1880; 8.244 in 1370. Valuation and tax per $1,000 have been:
Years.
Real Estate.
Personalty.
Total.
Tax.
$13,792,290
$53,128,150
$11-20
1883 ................. $39,335,860
1884 .................. 40,149,950
13,891,650
54.041,600
12-20
J e r s e y City.—One oi the main causes or past trouole in jersey City
finances has been the failure to collect back assessments and the large
amount of railroad property exempt from taxation, but these matters
are being remedied and RR. property is bearing a share of the taxation.
10
INVESTORS’
SUPPLEMENT
[Vox. XLV
Subscribers w ill confer a great favor by giving Immediate notice of any error discovered In these Tables.
DESCRIPTION.
For explanations see notes on first page of tables
Date of
Bonds.
Amount
Size or
par outstanding.
Value.
INTEREST.
Rate
When
Payable
Where Payable and by
Whom.
Principal—When
Due.
Kansas Oity, ilo.—( Continued.) —
Floating debt bonds........ ..........
1875
mmmm
142.500
8
J. & J.
do
do
1895
Railroad bonds..............................
248.000
....
7
do
do
1890 <&’97
School bonds.
60,000
1885
5
J. '& ' j .
1905
Lawrence, Mass.—Sewer loan.....................
1884
500<fec.
300.000
4
J. & J.
Lawrence or Boston,
July, 1904
Funded debt..............................................
1862 t o ’75 5000<fec.
459.000
6
Various Boston, Tremont Bank.
1887
to 1894
do
...............................................
1881 to ’85 10,000
150.000
4
J. & D.
Lawrence, Mass,
1891-95
Water loan................................................. .
1873 ’75 500 «fee.
1.300.000
6
A. & O.
do
do
Oct.
1,
’90.
to 1906
Long Island Oity—General bonds...........
. Various. Various,
911.500
6 & 7 Various
N. Y. City & L. I. City.
in instalments.
Tax or revenue b o n d s ...........................
1883-’ 86
500
438.500
5 & 6 Various
do
do
1889 to 1903
Louisville, K y.—Water works....................
. 1859 to ’67 1,000
698.000
6
1889-1897
Various N. Y., Bank of America.
For improvement of streets..................
1866 t o ’67 1,000
190.000
6
Various
Louisville.
1896-1897
For municipal improvement..................
1883
500 «fee.
1.500.000
4
J. & J.
New York City.
1923
Re-construoting street....................... .
1873
1,000
600.000
7
J. & J. N. Y., Bank of America,
July
1. 1903
Public buildings and institutions.........
. 1871 to ’73 1,000
519.000
7
do
do
Various
1891,
’92
& 1903
Public school and school houses............
- 1853 to ’69 1,000
17.000
6
Various New York, TJ. S. Nat. Bank
1889
Sewer bonds..............................................
1,000
81.000
1868
6
J. & J. Louisville, City Treasurer
July,
1898
do
.............................................
1,000
1871
423.000
7
J. & D. N. Y., Bank of America.
June, 1901
Elizabeth <fe P. Railroad..........................
. 1868 & ’73 1,000
1.692.000
7
Various
do
do
1888 <fe 1903
Wharf property........................................
. ’54,’62,3,8 1,000
159.000
6
Various Louisville and New York,
1888
to 1898
Jail bords.................................................
1869
1,000
133.000
6
A. & O.
do
do
Oct. 1, 1898
For old liabilities.....................................
. 1871 t o ’74 1,000
51.000
6
J. & D.
do
do
1889
do
do
............... ....................
1868
1,000
513.000
7
do
do
Various
1894 & 1901
do
do
...................................
1886
500.000
5
N. Y., Nat. Bk. of Republic
1911
do
do (half are 10-40 and half
)
1880
1,000
1,000,000
5
M. & *N. N. Y., Bank of America.
May
1, 1920
Louisville, New Albany & St. L. Air Line RR.
1871
1.000
481.000
7
M. & 8. N. Y., U. S. Nat. Bank.
Sept.,
1891
Road bed, Louisv. ,Cin. & Lex. R R .......
. 1871 to ’73 1,000
350.000
7
J. & J. N. Y., Continental Nat. Bk, July, 1901 & 1903
1851 t o ’63 1,000
333.000
6
Various New York and Louisville.
1893
Lowell, Mass.—City notes (various purposes).. 1862 to ’ 84 Large.
469,300 4 to 6*5 Various
City Treasury.
1887 to 1894
Bridge n o te s .,....................................................
1882
Large.
200.000
4
M. & N
Boston,
1891 and 1892
Bridge bonds......................................................
1882
1,000
120,000
4
M. & N,
1892
do
Sewer bonds....................................................... 1882 <fe ’83 1,000
382.500
4
Various
1887 to 1903
do
Water notes............... ....................................... 1871 t o ’85 Large.
537.000 3^to6®[ft Various
City
Treasury.
Dec.,1887
to 1911
Water bonds............................ .........................
1870
1,000
1.300.000
6
M. & N
Boston.
1890
Sewer notes......................................................... 1883 <fc 84
176.500
4
Various
City
Treasury,
10
per
ct.
annually
Bridge notes........................................................
1883
77.000
4
Various
10 per ct. annually
do
Lynn. Mass.—Water notes.................................. 1870-’3 ’5 Large.
100.000
6
Various
1890
City Treasury.
Water bonds........................................................ Various
1,000
1.219.000 3*2 to 6 J. & J
1890-1917
Boston,
Bank
Republic,
Funded debt.......................................................
Various 500 «fee.
595.000
5 & 6 Various
do
do
1890-1897
School Houses..................................................
Various
1,000
57.000 3^2 & 4 Various CityTreas’ry & Bk. Repub
1888-1893
Engine House and sewer bonds.......................
1884
1,000
246.000 3*3 & 4 Various
do
do
Nov., 1887-1906
Manchester, N. £L.—City bonds............................
1869-’85
313.500
6
Various
City Treasury.
1887 to 1894
Water bonds ($100,000 each year)................
1872-’74 100 «fee.
200.000
6
& J.
Suffolk Bank, Boston.
July 1, 1890 <fe’ 95
do
do
do
.................
1872-’74 100 &c.
400.000
6
& J.
City Treasury,
1887-’92-’97-1902
Bridge bonds......................................................
1881
100 «fee.
60.000
4
J. & J.
July 1, 1911
do
Memphis, Ten».—School and paving bonds....... 1867 t o ’68
©
1873 to 1902
6
J. & J.
Post bonds........................................................... 1867, ’8, ’9 500 «fee.
Memphis.
[
1873 to 1900
Funding loan, gold............................................
1870
1,000
M. & N.
Nov., 1900
Mississippi River Railroad bonds..................
'
J
o
Endorsement Memphis & Little Rock R R ....
-S)0
1857
1,000
7
J.
&
J.
Charleston,
S.
C.
July,
1872
Compromise bonds, coupon (Flippen)............
rH
1877
1,000
6
J. & J. N. Y., Nat. Park Bank,
1907
New compromise bonds....................................
1883
1,000
2,400,00C)
3-4
do
do
1913
Milwaukee, Wis.—Re-adjustment bonds............
1861
500 «fee.
77,500
5
J. &’ *D. Mil.&N.Y., Morton B. «Ss Co
June 1,1891
General city bonds............................................
1871
1,000
182.000
7
J. & J.
do
do
Jan. 1, 1901
do
do
(not liable to be called in
1876
1,000
98.000
7
J. & D.
June
1,1896
do
do
do
do
..........................................
1885-6
285.000
4
J. & J.
July 1,1905& 1906
do
do
Bridge bonds....................................................... 1882 ’83
1,000
61.000
4
J.
&
J.
July
1,1902
do
do
Water bonds, coupon.........................................
1872
1,000
321.000
7
J. & J.
do
Jan. 1,1902
do
do
registe red ..................................
1872
10,000
899.000
7
Jan.
1,1902
J.
<
fc
J.
do
do
do
coupon
.................................. 1883-’86-’7
608.000
4
J. & J.
1903 & 1906-’07
do
do
Waterworks refunding.....................................
1883-’84
1,000
255.000
4
J. & J.
do
1903-1904
do
Minneapolis, Minn.—City oonds.................. .
1870 to ’75
610.500
Various New York, Nat. Park Bank
8
1888-1905
City bonds.......................................................... 1871 t o ’81
422.000 5, 6, 7 Various
1893-1902
do
do
do
($366,000 due 1912 are red. 1902) 1881 to ’85 1,000
2.105.000
Various
4-412
do
do
1906
to 1915
do
...........................................................
1886-’87
1,000
1,095 000
4-412 Various
1916 & 1917
do
do
Mobile—Funding bonds.......................................
1881
500
2.250.000 4 to 5 J. & J.
Jan.
1,
1906
New
York
and
Mobile.
Nashville, Tenn.—Various city bonds............... 1870 t o ’81 100 «fee.
1,395,600
6
Various New York and Nashville.
1887 to 1903
Municipal Bridge bonds....................................
1885
1,000
200.000
5
A.
&
O.
N.
Y.,
Chemical
Nat.
Bank,
Oct.
1,
1905
Waterworks........................................................
6
450.000
1907^-1915
do
do
""
Newark—War bds.,float’g debt, «fee. (s.fd. of ’ 64)
1,000
550.000
7
1891
«
S
c
1896
Various
Newark,
City
Treasury,
Public school bonds......... ................................... 1868 to ’86 1,000
580.000 4»s, 5, 7
1887 to 1892
do
do
Clinton Hill bonds, coup. & reg. (s. fd. 3 p. o.).
1875
1,000
400.000
7
J. & "j. Newark, Nat. State Bank,
July 1, 1895
Corpora te bonds, coup, or reg. (act Apr. 21,’76) 1878-’80
1,000
1.200.000
5 & 6 Various
1909
& 1910
do
do
Sewer and improvement bonds (local liens). . ’ 71-’79-’86 1,000
2.450.000 4,412 to 7 M. & S.
1893 <fe1906-’09
do
do
Aqueduct Board bonds($2,490,000 due in ’92) 1867-’86
1,000
3.497.000
7
1892
to 1909
do
do
Various
Tax arrearage bonds.................................
1877-’78
1,000
476.000
7
F. & A.
1887 & 1888
do
do
do
do ..................................
1879 to ’85 1,000
5
1.114.000
1889-’9>
F.
&
A.
do
do
do
do ..................................
1886
97,000
July 1,1896
do
do
412 J. & J
Funded debt bonds...............................
1885
232.000
5
F. & A
do
do
1895
Annexation bonds, reg..............................
1886
1,000
4
126.000
1906
City ta x ....................... ...............................
1886
4
158.000
1906
New Bedford, Mass.—City improvement..
1875-86 Various.
1891
to 1910
6
328.000
City
Treasury,
A.
&
O.
Water bonds...............................................
1876
1,000
A.
&
O.
5
100.000
1900
to 1904
do
do
..................................................
1867 to ’7b 1,000
do
360.000
1887
to
1909
A.
&
O.
6
do
...................................................
1872-’74
1,000
7
160.000
do
A.
&
O.
1887
to 1909
.................. ...............................
do
1884
5,000
100.000
4
do
1894
Sewer and Bridge bonds..........................
1881-’ 86
1,000
do
130.000
312- t A .'& O .
1887 to 1906
Collections in 1886 were better than in 1885 by about $150,000, and 59,475 in 1880; 40,928 in 1870; 75,000 in 1884. Assessed valuation
the city also received $2.0,000 from taxes on railroad property col in ’84, $36,510,201 real est. anil *14.671,684 personal; tax rate, $17 50.
lected by the State. Population in 1880,120,722. against 82,546 in ’70- In 1888, real estate, $38,876,785; personal, $14,319 907; tax rate, $16.
in 1885 by the State census population was 155,300. Taxable valua
Lynn, Mass.—Valuation 1887, real estate, $24,491,44«'; personal,
tions and tax rate per $1,000 have been:
$6 ¿79,206; tax rate, $18-80; in 1884, $27,548,581; tax rate, $18-40.
.Y e a rs .
Real Estate.
Personal Prop.
Tax Rate. Population, 28.233 in 1870: about 45,000 in 1883.
1882
........................... $56,125,552
$5,640,300
$2900 Manchester» N. H .—Valuation in 1885, $21,137,464; tax rate,
1883
.......................... 58,287,892
4,664,390
2940$17 50 per $1,000. Population, 32,630 in 1880; 23,536 in 1870.
1884
.......................... 61,571,512
4,564,683
3280 Memphis» Tenn.—The city was in default for interest after Jan. 1,
1886.................................... 61,894,739
4,965,200
29401873. The Legislature passed a bill, January, 1879, repealing the city’ s
The value of railroad property, not included above, is about $25,000 - charter, and the “ Taxing District of Shelby County” was organized.
000, which is suDject to a tax rate of 1 per cent for city purposes.
’
compromise bonds of 1877 were issued at 50 cents on the dollar.
Kansas City, M o .—In 1885 assessed valuation was $31,678,520 The
Under the act of Tenn. March 3,1883, new compromise bonds are issued,
and tax rate 15 mills. In 1886 real estate valuation was $36,833.550- bearing 3 per cent till January, 1886, then 4 per cent till 1889, and 6
personal, «fee , $9,553,240; tax rate per $1,000, $14 00.
’
The total debt when funded will be nearly
Lawrence,Mass.—Total debt, $1,764,000. Sinkingfunds, $325.534 per cent thereafter.
Valuation of real and personal property in 1883, $12 690,Tax valuation in ’84, $27,369,095; in ’85, $27,144,050; tax rate, 16-60: $3,000,000.
318;
tax
rate,
$23
50
on
the $1,000. In 1884 valuation of real and per
JH)’86^$27,165,590; tax rate, 16-40. Pop., in 1884 45,000; 39,151 in sonal property, $13,499,325:
tax rate, $23 50. Population in 1870,
40.226; in 1880, 33 592; in 1884, 62,335.
Long Island City.—The interest on $514,500 of the general bonds
Milwaukee, W is.—The city cannot issue debt beyond 5 per ot. of its
is payable from taxation, and on $397,000 from water rents. The tax average
assessed valuation of real and personal property for five years. In
or revenue bonds issued in each year are chargeable on the uncollected 1884 valuation
was $74,951.750; in 1885real estate, $61,445,921 and per
taxes and water rents of a previous year, and a 1 interest on these bonds sonal, $17,415,445;
in 1886, $32,641,743. Sinking funds are provided,
is paid from the collection of back taxes and interest. The assessed and all old issues except
general bonds due 1896 may be called in
valuation in 1885 was $7,299,170 on real estate and only $37,500 on and paid by sinking fund;theholders
misled as this was not stated
personal property; the rate of tax was $40 40 per $1,000. For .state in the bonds. Population, 71,440 in were
187«»: in 1885 (estimated), 160,000.
p^rpi)^ thS^?;1i latiori was increased to $10,000,000. Real valuation
Minneapolis,
M
inn.—
Total
debt
March
1 ,’87. $3,739,000; sinking
about $25,'»00 000. Population, 25,000.
$232,738; tax valuation in 18-6 87, $33,008,856 real estate and
. , Louisville.—The funded debt, Jan. 1,1887, exclusive of loans pava- fund.
$16,582,906
personal—total,
$99,591,762;
tax
rate, $17 10 to $19 00
ble by railroads, was $9,352.000, against $9,616,000 Jan. 1,1886 ■The in 18-5, $77,500,000; in 1884, $74,308,711: tax
rate 1885, $20 00.
Binklng funds on Jan, 1,1887, amounted to $4,373,831. Population bv Population, 46,887 in 1880; 160,000 (estimated) in 188b.
Census of 1870 wa3 100,753, against 123,758 in 1880. The following
Mobile.—Valuation oi real and personal property in 1883, $15,350,th<2 assessed Property valuation: 1881, $68,753,770; 1862, 738; in 1884, $13,578,347, in 1885, $13,763,822. Population 35,000 in
° 4 wirich $52.269,684 was realty. In 1883 valuation 1885: 31.2U7 in 1880: 32.034 in 1870.
$6^ U ? I 52 K taxnr3H per $1.000, $21 00. in 1884, $63,9271077. tax
Nashville, Tenn.—Assessed valuation of all property in 1886 was
’ &$20 40.
6n ’461, tax rate $ 24 8°; in 1886, valuation, $25,671,200; tax rate per $1,000, $15. Population, 43,350 in ’80;25,865
$04,405,515; taxl88f
rate,
1870.
Low ell, Mass.—All the notes held by savings banks. Population in Newark.—
The bonds in the first line in the table are payable out of
CITY
S e p t e m b e r , 1887.]
SECURITIES
I I
Subscribers w ill confer a great favor by giving immediate notice ol any error discovered in these Table«»
DESCRIPTION.
Amount
outstanding.
Date of
Bonds.
For explanations see notes on first page of tables.
New Brunswick, N. J.—
1st & 2d mort. ■water works bonds................... 1867-69
Water b’ ds. of ’ 64,’ 73,’ 74 ($10,000 only are bs) 1864-1874
1*73
City improvement bonds...................................
Sinking fund bonds............................................. 1881-82
1882-85
do
do .............................................
do
do ............................................. 1885-86
Commissioners of streets and sewers...............
do
do
...............
1871
New Haven, Conn.—Sewerage..............................
1877
City bonds (10-20 bond s)............................---1883
Sewerage bds. (pay’le $L5,000 y ’rly from ’95).
New Orleans—Consolidated debt........................ 1854 to ’84
Consolidated debt, extended............................
1883
Ten year certificates to fund coupons.............
Railroad debt (all extended except $¿8,000).. 1854-75
1869
Seven per cent funding loan of 1869...............
1870
Seven per cent funding loan of 1870...............
1857
Jefferson City ((lebt assumed) extend’d ...........
1875
Premium bonds (in exchange)..........................
1869
Water Works ($70,400 extended)................ ••
Other old bonds ($¿05,500 extended) . . . . . . . . . 1857 to ’73
Newton, Mass.—City bonds and notes.................. 1867 t o ’ei
New York—Accumulated debt bonds, city.......... 1869-’70
Accumulated debt bonds, county..................... 1869-’70
1884
Armory bonds.................................................. ■
Assessment bonds.............................................. 1879 t o ’ 87
Assessment fund stock. ................ - •........... . 1868 to ’ 83
Additional new Croton Aqueduct stock.......... 1872 t o ’77
Croton water stock............................................ 1847 to ’52
Additional Croton water stock. . . . .. . . . . . . . . .. * 1871 t o ’87
Additional water stock, red’m’ble after 1913 1883 to ’ 84
1885-7
Additional Water stock...................................
Croton water main stock.................................. 1871 to ’81
1866
Croton Reservoir bonds....................................
Central Park fund stock.................................... 1857 to ’59
1856
to ’58
do
do
....................................
do
do
............. 1865 to ’71
1869
City Cemetery stock..........................................
City improvement stock..................................... 1869 to 78
do
do (cons., $687,803 red. aft.’96) 1876 to ’80
1874
City impr. stock (cons, st’k), cp., exch. for reg.
City Lunatic Asylum stock................................ 1869 t o ’70
City parks improvement fund stock................ 1871 t o ’ 80
Consolidated stock, county, coup., ex. for reg. 1871 & ’72
1871 & ’72
city,
do
do
1871
dock bonds
do
do
1872
city
pks.
impr.
fd.
st’k,
d
o..
do
1878
red. aft. 1908, cp. ex. for rg.
do
city, coupon exch. for reg .. 1874-’75
do
city, (A).................. ............. 1872 to ’74
do
1874
county (A & B )....................
do
1874
city (B & C).........................
do
1876-’77
oity (D E & F ).....................
do
city (G K L & M )................ 1877 to ’84
do
1880
city........................ ..............
do
1884
consol, st’k (Riker’s Isl’d)..
do
1886
(HarlemRive Bridge)..
do
1870 t o ’84
Dock bonds____ ____________
. , .
1884
Consol, stock (Metropolitan Museum of Art)..
Fire Department stock...................................... 1869-’70
1887
Gansevoort Market cons, stock, rev. bonds...
Market stock............................................- - - ••- - • 1867 t o ’69
Museums of Art and Natural History stock. 1873 to ’81
N. Y. City bds.for const.of bridge ov.HarlemR. 1879 to ’84
N. Y. Bridge bonds................................■■--........ 1869 t o ’ 75
1876
do do (jonsol. stock, redeem, after ’96........
do do $500,000 af.’96,$1,421,900 af 1900. 1876 t o ’80
do do $750,000 af. 1903, $416,666 af. 1905. 1880 to ’83
1871
Ninth District Courthouse bonds.....................
Normal school fund stock.................................. 1871 & ’72
N. Y. Co. Courthouse st’k, Nos. 1, 3, 4 & 5 .... 1862 to ’82
1870
New York County repairs to buildings stock..
1871
N. Y. and Westchester Co. improvement bonds
1871
t o ’74
Public school building fund stock.....................
School House b o n d s ........................................... 1884-’85
1869
& ’70
Street improvement bonds...............................
1864
Soldiers’ bounty fund bonds..............................
1865
do
do
No. 3 .....................
1865
Soldiers’ bounty fund red. bonds, No. 2 ...........
1870
Tax relief bonds, No. 2, coup. exch. for reg—
Third District Court-house bonds.................... 1874 to ’77
ia72
Water stock of 1870.......................... .
Debt of annexed territory of Westchester Co
$ ....
500
500
500
1,000
1,000
1,000
1,000
1,000
1,000
100
100
500
500
500
500
100
500
500
500
500
100
>
I
'
|
'
'
i
i
i
i
»
»
1
»
t
Rate.
INTEREST.
Where payable and by
Whom.
When
payable
due.
1892-1904
M. & N. N. Y., Ninth Nat. Bank.
7
$180.000
1887-1900
tf. & N. Si . Bruns’kNat. Bank, N. J.
6*7
178,500
1887-92
do
I. & J.
7
47,500
!Æ. & 8.
do
£ >t. 1, 1901-lli
5
47,000
1902-1903
do
?M AS
6
52,000
191*5-1906
r. & j .
do
6
109,500
1894-1898
do
Æ. & N.
7
484,100
18.98-1906
do
M. & N.
6
360,000
City Treasurer.
A. * O.
7
499,000
do
J. & J.
5
150,000
1895 to 1904
do
F. & A.
3^
150,000
1892 to 1934
New Orleans.
5, 6 ,7 J. & J.
1,651,000
1892 to 1923
do
J. & J.
6
2,649,000
Jan., 1893
do
J. & J.
6
2,127,360
1894 to 1923
do
Various
6
397,000
1894
& 1922
do
M.
&
8.
567,7-50 6 & 7
1895 & 1922
do
6 & 7 J. * D.
375,750
1897
to 1923
do
6 & 8 Various
41,500
When drawn.
do
....
5
7,504,820
1899
to
1923
do
5*6
....
82,400
1892 to 1923
__
do
378,100 6 to 10
1887
to
1914
City Treasury.
415,200 3*2 to 6*2 Various
M. & N. 1
7
2,600,000
r
M. & N.
7
2.400.000
M. & N.
3
|
1.172.000
3.443.000 3, 312,4,5 M. & N.
3,277,050 4,5,6 * 7 M. & N.
Aug. 1, 1900
0
1,331.300 5, 6 & 7 M. & N.
Feb. 1,1890
5 &6
Q -F .
321,400
S'
1891, ’99 & 1904
0
5,709,000 3*2 to 6,7 M. & N.
Oct. 1.1933
A.
&
O.
445,000
3, 3^2
Oct. I, 1904 & ’ 5
s
A. & O.
12,500,000
3, 3 ^
Nov.
1,1900-1906
M.
&
N.
5,196,000 4,5, 6 * 7
tuod
Aug. 1,1907
6
20,000
Q .-F S’?
Nov.
1, 1887
6
Q .-F .
1,467,471
5a
July 1, 1898
5 &6
674,300
Q .-F June
1,1895
Q .-F .
6
1,766,600
Aug. 1,1888
4-».3
M. & N.
7
75,000
Nov.
1
,1889&
’ 92
<D
C
Q
7,977.515 5 ,6 & 7 M. & N.
1900 & 1926
5 & 6 M. & N.
701,419
Nov.
1,1896
820,000
6 g. M. & N
M’S
Aug. 1,1889
M. & N
6 *7
700,000
1901-1904
.3
4,799,000 5 ,6 & 7 M. & N.
July 1. 1901
I. & J.
8,885,500
6 g.
July
1.1901
4,252,500
6 g. J. & J.
SH
July 1,1901
1,000,000
6 g. J. & J.
a GO
Jan.
1,1902
862,000
6 g. J. & J.
is
Nov. 1, 1896
PQGO
6,900,000
5 g. M. & N.
Nov. 1,1928
1,564,000
6 g. M. & N.
ÈS
Nov. 1,1894
3
”
M.
&
N.
6*7
2,455,000
Deo. 1,1896
g
f. & D.
7
1,630,200
Deo. 1,1896
O
r. & D.
7
6,324.700
May 1,1916, &26
5*6
M. & N.
1,858,349
¿a
Nov. 1,’89, ’97’99
M. * N.
4*5
941,135
Aug., 1894
M. & N
4
2,800,000
S
3
Nov. 1, 1910
M. & N.
3
180,000
O <s
Nov. 1, 1906 & ’7
M. & N.
1,300,000
3
z *
Nov. 1,1901-1917
3 to 7 M. & N.
11,553,000
g Pi
Nov. 1,1905
M. & N.
3
25,000
P) 2
Nov. 1,1899
O
M. & N.
6
521,953
Nov.
1, 1907
M. * N.
70,000
3
If
May 1 ,1 8 9 4 * ’97
M. & N.
6*7
296,000
I
s
May
1,1903
M.
&
N.
4,
5
&
6
958,000
ONov. 1,1891
499,500 3 ,4 & 5 M. & N.
©3
Nov. 1, 1905
6
M & N.
1,500,000
May 1,1926
VI. & N.
6
500,000
is
May 1,1926
Q .-F .
5
1,921,900
May 1,1928
C3H
M. & N.
1,166,666 4 * 5
Nov.
1,1890
®
<
H
M. & N.
7
300,000
Nov. 1,1891
M. & N.
6
200,000
Nov.
1
,
1887-’98
1,716,000 4 ,5 ,6 * 7 M. & N.
g j
Nov. 1 , 1887-’88
c3§
M. & N.
40,000
6
Dec.
1,1891
30,000
6
XL & N.
I-2
Nov. 1,1891
M. & N.
636,000
6
4^
Aug. 15,1894
M. & N.
802,845
3
Nov. 1,1888
M. & N.
6
606,900
2
Nov., 1887-’90
M. & N.
2,500,000
6
Nov. 1 ,1895-’97
M. & N.
a
745,800
7
Nov. 1,1891
M. & N.
376,600
7
Nov. 1 ,1890
M. & N.
3,000,000
7
Nov.
1,1890
M. & N.
5*6
398,000
Nov. 1,1902
M. & N.
475,000
6 *7
1887
to
2147
1
Various
700,000
7
. . . . . .
the sinking fund of 1864, which amounted Dec. 31,1836, to $550,471’ i n ’ 85, $123,929,268; tax rate $25-49; m so,
publio school bonds out of public school fund, $488,265: Clinton Hill $20 20; in 1836-7, $ 125,096,250. tax rate $20 20. Ascheme for settling
bonds by sinking fund $263,560. The total amount in the sinking funds the debt by a bond premium drawing plants in practice, and ora wings
on Dec 31,1886, was $2,622,063. The Aqueduct bonds are not a direct take place Jan.31, Apr 15, July 31 and Oct.15 Popul’ n in ’ *0, 216.090.
N e w t o n . M a s s .—Sinking funds, Jan. 1, ’87, $237.978. In 1884
liability of the city of Newark. Real and personal property have been
assessed at about two-thirds of true value as follow s: 1884, real estate, valuation $27,814,561; tax rate per $1,000, $14-40. Valuation in 1886
$72,456,775; personal, $18,524,775; tax rate per $1,000, $20 30; 1885, $31,016,930; tax rate, $14 40 per $1,000. Valuation V ] 188, / l i f t
real estate, $74,189,110; personal, $18,730,160; tax rate, $19 30. Popu 657; tax rate, $15-80. Popula. 19,759 in ’ 35; 16,994 in 80, l-,8 2 o in 70.
N e w Y o r k City .-T h e total debt ofN ew York, January 1.1837, w m
lation in 1870. 105,059, against 136,508 in 1880, and 155,000 in 1835.
New Bedford, M a s s .—Population, 35,000 in 1886; 21,320 in $ 125,982,736; the amount of sinking fu n d s, $41,205,470. The follow
1870. Assessed valuations in 1836 were $16,778,900 real estate and ing statement shows the details of funded debt and the amount in tne
$15,416,659 personalty; tax rate, $16 per $L,000.
city sinking fund at the dates named:
Jan. 1,1887
Jan. 1,1886.
New Brunswick;, N. JT.—There are also $50.000 7s and $14,900
Description.
Jan. 1, 1885.
$12),982,736
$125,475,240
5s, due 1838. The fiscal year ends March 31. On March 31, 1887, the Total funded debt.......... $126,371,138
41,205,470
36,113,814
valuation of real estate taxable was $4,062,455 ; personal. $1,325,850; Sinking fund.................. 34,823,735
tax rate, $4-14 per $1,000. The assessed valuations are ouly about one
$84,777,266
$89,361,426
third of the true value of real property. The sinking funds March 31,
Net funded debt....... $92,047,403
5,618,368
3,670,525
1887, amounted to $102,590. The oity finances are now under able and Revenue bonds...............
2,358,825
________________________
conservative management, and the actual net debt is decreasing. On
Total net debt......................................... $94,406,228
$93,031,951$90,395,634
April 1 the statement was as follows for three years: In 1885, net debt
less cash and sinking funds, $1,561,100; in 1886, $1,526,134; in 188 7,
The population of New York, by the U. S. Census, in 1870 was 942,292 ,
$1,508,882. The present debt was issued under the adjustment of and 1,206,299 in ’ 80. Jan. 1, ’65, and since Jan., 72,
val 55 w i •
1880-81. The bonds bear 4 per cent till 1901, then 5 lill 1906.
of taxation, and net funded debt at end of year have been as follow s.
New H aven, Conn.—Bond funds, $134,784. The city made a
Net Debt,
Personal
Tax
p.
$1,000
Real
special loan of $75,000 to the New Haven * Derby RR., and guaranteed
Deo. 31*
Estate.
State. City.
Estate.
$225,000 of its 2d mort. bonds. Popula. in 1870,50,840; in 1880,62,882. Years.
$35,973,597
$181,423,471
34
96
$24
94
1865..........
$427,360,884
Assessed vaiuat’n (about 80 per cent of value), tax rate per ,$1,000, &c.,
95,467,154
5
20
23
81
306,949,422
M
1872......... 797,148,665
have been:
114,979.970
272A8LÍ81
6 65 21 35
Years. Real Estate. Personalty. Rate of Tax. Tot. D’bt. 8kg.Fds,*c. 1874i.. . . 881,547,995
11 >,773,721
217,300,154
7 27 22 13
1875
883,643,545
$14,271,224
$Ll 00
$714,000
.........
1 8 8 4 ..
..$36,293,114
119,811,310
218,626,178
6
51
2149
1876
892,428,165
16,000,000 11 0 0
819,000 $114,078
1885___ 42,000,000
117,700,742
206,028,160
3 78 22 72
895,063,933
799,000 134,784 1877
1 8 8 6 ..
.. 43.500,00017,500,000 11 0 0
113,418,403
197,532,075
3
56
21
94
900,855,700
New Orleans. - The debt as given in the above table is as outstan iin; 1878
109.4v5.4l4
175,934,955
3 43 22 37
918,l3i,330
June 30,188 7. In June, 1»82, a law was passed to issue new 6 per 1879
106,066,240
201,194,037
3 12 22 13
942,571,690
cent 40 year bonds for all old bonds other than premiums; the extended 1880
102,618,301
209,212,899
3 60 22 60
bonds run till 1923, but are redeemable after 1895. Certificates were 1831......... 976,735.199
109,388,483
198,272,582
-—
22
50—
.1,035,203,816
issued for overdue coupons to Jan. 1, 1883, and though made for tea 1882
95,529,909
197,546,495
22 90
.1.079,130,669
years the certificates are payable at option. The assessed valuation of 1883
t
Annexed
towns
incl
uded.
* Less sinking fund
property, real & pers’ al, in ’84, $114,581,744; tax rate per $ 1,000, $ ¿0*00;
12
INVESTORS’
SUPPLEMENT.
I Vo l . X L V
Snbacribers w ill confer a great favor by givln
DESCRIPTION.
Date of
— Bonds.
For explanations Bee notes on first page of tables.
9.
Size or
Amount
par
outstanding.
Value.
Rate.
INTEREST.
When
Where Payable and by
Pay’ble
Whom.
Principal—When
Due.
Norfolk, Va.—Coupon bonds.
Coupon bonds of 1881........
Trust and paving, coup......
Coupon nonds.....................
. 1870-’84
$100
$860,200
6
Various Norfolk and Baltimore,
1894 to 1914
. 1881 ’86
100
660,000
5
A. AO .
do
do
1911.1916
. 1872-’73
100
290,800
8
A. AO .
do
do
Apr.,
’92, July,’93
1887
500
37,500
5
M. & S.
Norfolk.
Sept. 1, 1917
1871
100
640.000
5
&
8
M.
AN.
New
York
and
Norfolk.
Norwich, Conn.—Sinking fund bonds of 1
1901,1914
A 1915
1877
1,000
160,000
5
A. A O Boston, Nat. B kof Republic April 1, 1907
Water loan ($150,000,1898)...
. 1868 A ’ 8C 1,000
200,000
5 & 6 Various Norwich, Thames Nat. B’k
Court House..................
1898A
1910
1875
1,000
164,000
7
J. A J
do
do
J a n .1,1905
Sinking fd bds of 1878 ($100,000 water loan)
1878
1,000
150,000
5
A. A O
do
do
Funding............................................
April 1,1908
1883
1,000
125,000
4
A.
A
O
do
do
Oct. 1, 1913
__
' , ' wwuuw* wuu
v v v au o »
) 1859-’86
500
61,000 4^2 & 7 J. A D
City Hall, by Treasurer,
Funded debt bonds.......
1887-1904
1871
500
70.000
7
J. A D
do
do
1887 to 1900
Sewer b’ds ($130,000 are M. AS. A$90,5005s) . 1869-’82
500
393,500 5, 6 ,7 Various
do
do
War bounty bonds...............................
1887-1902
. 1864-’65
500
291,500
7
J. A D
do
do
1887 to 1900
Renewal bonds, “ B,” “ C,” “ D,” “ E” and
. 1877-’ 86
500
251,000 1, 4ifl & 6 Various
do
do
1901-1907
Philadelphia—Consolidated city loan........
.
....
50 Ac.
2,217,220
6
A J. Philadelphia, by Treasurer
1887
to 1906
s
1855
50 Ac.
564,500
6
A J.
do
do
do for water works......................
. 1855 t o ’71 50 Ac.
6,401,800
6
A
J.
do
do
do for bridges.............................
1887
to 1903
. 1859 t o ’7C 50 Ac.
3,836,000
6
A J.
do
do
do for park and Centennial.. ! ! "
. 1868 t o ’7C 50 Ac.
8,403.200
6
A J.
do
do
do for war and bounty purposes
. 1862 to 65 50 Ac. 11,706,500
6
J. A J.
do
do
1887 to 1905
do municipal, school, sewer, Ac.!
. 1860 t o ’7C 50 Ac. 16,241,100
6
J. A J.
do
do
Guaranteed debt, gas loans.
50 Ac.
3,500,500
6
J.
A
J.
do
do
1899
to 1905
Four per cent loan (“ H” to Y” )
1879
25 Ac.
6,498,800
4
do
do
1887 to 1904
Peoria, Ills.—School loan.......
....
....
53,500
7
Various N. Y., Mercantile Nat. Bk, Nov.1,’87 to 1898
War ioan..................................
.
....
42,000
4 ^ M. A N.
do
do
Water lo a n .......................".***.
Mar. 1, 1902A’03
.
....
450,000 •» 6 g., 7 Various
do
do
1888-’89-1901
Peoria & Rock Island Raiiroad. !**” I“ *‘ * ....
100,000
7
J. A J.
New
York.
July 1, 1888
Pittsburg— ater exten. loan (coup, or res') .
1868 to ’74 100 Ac.
4,282,500
7
A. A O. Phila., Townsend, W. A Co.
Water loan, reg..................... .................. .........
1893 to ’98
1878
25 Ac.
300,000
6
J.
A
J.
do
do
1908
Funded debt and other municipal bonds....... 1845 t o ’72 500 Ac.
1,226,525
6 & 7 Various Pittsburg and New York.
1893
to 1912
Compromise railroad bonds (coup, and reg.)
1863
100 Ao.
2,178,698
4
&
5
J.
A
J.
New
York,
B’k
of
America.
1913
Funded debt improvement bonds, cp. & reg
1882-’83
100 Ac
1,480,000
5
Pittsb’rg
and
Philadelphia.
1912-1913
Improv. bonds coup.or reg.(Act of May 9,’79)
1885
100 Ac.
3,739,100
4
J. A D .
Pittsburg, Treasurer.
Deo. 1,1915
Portland, Me.—Loan to Atl. & St. Lawrence RR . 1869-’70
1,000
544,000
6
M. A N. Bos., MaverickN.Bk.orPtld Nov., 1887, ’88
Loan to Portland & Rochester Railroad.......
1872
500 Ac.
416,000
6
J.
A
J.
do
do
July 1, 1897
do Portland & Ogdensburg...................
1872
1,000
1,200,000
6
M. A S.
do
do
Municipal—proper............
Sept. 1,1907
1867-79 500 Ac.
851,000
6
m’nthly
Boston and Portland.
1887 to 1897
Funding loan (redeemable July,"1902) "!?I.C
1887
1,000
727,000
4
J. A J.
July 1,1912
Providence, R. 1 .—Recruiting and bounty bondi
1863
lOOOAc.
300,000
5
A J.
Providence.
Water loan bonds, gold, coupon.....................
Jan., 1893
1872
lOOOAc.
2,028,000 5 & 6 g.
A J. Boston, Prov. and London.
July, 1900
do
do
registered............. ’ .
1874
lOOOAc.
1,972,000 5 A 6 g.
A J. N. Y., N. City Bank, A Prov.
July, 1900
do
do
do
.................
1876
lOOOAc.
1,500,000
5 g.
A J.
do
do
July 1,1906
„..d o
do
gold coupon........! ! !!
1836
1,000
483,000
3ia g M. A 8. N. Y., Bost. or London.
Sept. 1,1916
City Hall & sewer loan b’ds, sterling, cp. or res
1875
£100
1,397,250
5 g J. A J. London, Morton, Rose A Co
July
1,1895
do
loan of 1879.............
1879
lOOOAc.
600,000
4ia J. A D
Providence,
June 1,1899
Public improvement loan, registered........ .
1879
Large.
596,000
5
J.
A
J
do
July
1
,’99
A 1900
Prov. & Springfield RR. bonds, guaranteed...
1872
1,000
500,000
J. A J
do
1892
New High School Building certificates.......... . 1877 A ’79 Various
31,938
4*2 Various Boston and Providence.
May
1,
1888-89
___
....
2,638,858
6
J. A J
Richmond, Treasurer,
'.A J., 1887-1914
...
....
1,179,700
8
A J
do
do
1904-1911
New fives, 10-34 years, registered.
....
....
1,178,000
5
A J
do
do
Bonds.
July, 1914-’20
....
276,000
4
1920
Rochester, N. Y.—-To Genesee Valley Railroad ..
1872
1,000
132,000
7
J. A J
N. Y., Union Trust Co.
1888 to 1903
To Rook. & State L. and R. N. & p. Railroads 1872 to ’74 lOOOAc.
750,000
7
F. A A New York and Rochester,
Feb. 1,1893
For various city improvements....................... 1872 t o ’75 Various
585,000
7
Various
do
do
1887 to 1902
Water works loan, coupon and registered... . 1873 t o ’ 76 lOOOAc.
3,182,000
7
J. A J.
N. Y., Union Trust Co.
Funding loan.........................
Jan. 1, 1903
1875
1,000
410,000
7
J. A J.
do
Consol loan.................. I " " ! .............................
Jan. 1,1905
1882
5,000
100,000
4
F. A A.
do
Aug.
1,1912
Local improvement’ funding loan..".’ ! ! ! ! ! ! ! ! !
1885
5,000
150,000
3
J. A J.
do
Kockland, Me.—Municipal bonds................ [
1890,
redeem.’ 87
....
50 Ac.
615,150
4 A 5 Semi-an
City Treasury,
1887
to 1911
Railroad loan ($20,000 payable yearly)........
1869
100 Ac.
52,600
6
J. A J.
do
1888 to 1899
1871
100 Ac.
59,500
6
F A A.
do
do
! ! " ! I ! ! ! ! I ! . ! " ............................
1891
1872
100 Ac.
54,100
6
M. A S.
do
1902
Notes and certificates of deposits ’ ..............
__ _
105,852
3-65
do
On call.
St^Louis—Renewal bonds ($100,000 only are 7s ) 1868 t o ’79 Various
4,566,000
6 A 7 Various N.Y., Bk. Repub.'A Bk.Com.
Renewal bonds............................
1888
to ’99
1880
1,024,000
5
N. Y., Nat. Bk. of Commerce
ao
............
1900
1882-83-85
913,000
4
do
do
do
..................................................
1902-’03-’05
1837
4,415.000
3ia
do
do
General purposes........
1907
1858 t o ’75 Various
642,000
6
Various N. Y., Bk. Com. A Bk. Repub. May,1888 to l9 0 6
Tower Grove Park bonds (goidj!~!*I” " * ! !* v
1868
1,000
340,000
F.
A
A.
6 g.
N.
Y.,Nat.
Bk.
of
Republic.
Aug.,
1898
Bewer oonds ($336,000 are gold bonds) . . ..
1858 t o ’75 1,000
1,086,000
z 6 g. Various N.Y., Nat. Bk. of Commerce
New water work bonds (gold).............
1888 to ’95
1870 to ’72 1,000
1,700,000
Various New York and St. Louis,
18^0
A
1892
Refunding water pipe, special tax, gold!........
« g’ M. A N.
1874
800.000
do
do
July 1, 1894
Floating debt ($900,000 are gold) . ............!.!
1858-74
1,000
1,330,000
New
York
or
London,
1888
and
1894
Real estate ($50,000 are gold and $25,000 5sj
1875
1,000
465,000
5 A <f M. & N.
do
do
1895
Bridge approach bonds (gold)..................
1872
500
461,000
J. A D. N. Y., Nat. B’k Commerce. Dec. 10,1892
Bonds for St. L. Gas Light Co., judgm’t . i or $
1885
1,000
950,000
2 * J. A D. New York and London.
June 1,1905
St. Louis County bonds—County Jail..............
1868
1,000
500,000
7
M. A 8. N. Y., Nat. B’k Commerce,
Sept. 1,1888
d°
do
General purposes, gold
1872
1 .0 0 0
600,000
6
g. J. A D.
do
do
June, 1892
_. _ do
do
Park bonds, coup.,[gold
1875
1,000
1,900,000
A. A O.
do
do
St. Joseph, Mo.—Funding bonds.........
April 1,1905
1881
811,550
4 S- F. A A. N. Y., Nat. Bk. Commerce, Aug.
1, 1901
Funding bonds..................
.............
1883
902,000
6
F. A A.
do
do
Aug. 1, 1903
Real
Personal
Years.
Estate.
Estate.
State A City.
Dec. 31 *
1884
1,119,761,597 $218,536,746
$22 50
$94,4(16,228
1885
1,168,443,137
202.673,866
24 00
93,031,951
1886
1,203,941,065
217,027.221
2 ? 60
90,395,634
1887
1,254,491,849
253,148,814
2 16
* Less sinking fund.
Passed a law in 1885 that the indebtedness should
not exceed 10 per cent of the assessed value of real estate, and this io
P M I ^ 8 « » » $ = » « 1 1 » ’ the Court of Common Pleas (General Term)
to Include the bonds in the sinking fund as apart of the debt. (V. 43 v.
41; V. 44, p. 204; V. 45, p. 86.)
Norfolk, Va.—The assessed valuations and tax rate per $1,000 arel «su *
Ke»1 Estate.
Personalty. Tax Rate.
.......................................... $9,776,197
$1,722,492
$20
J*—Finances are apparently in a sound condition
The assessed valuations, tax rate per $1,000, Ao., have been:
,
Real Estate.
Personalty. Tax Rate.
Debt
$3,876,075
$2500 $1,168,500
1883-84................ $18,521,342
*884-85............... 19,205,501
3,816,500
2500
1,168.500
i||5-86................ 19,549,111
3,891,115
2500
1.165.000
1886-87................ 20.467,176
3,913,863
2500
1.167.000
—Population, 51,031 in 1880; 33,579 in 1870.
Philadelphia.—J an. 1, ’ 87, the funded debt was $59,369,620. In the
í l Í t Í 6 . - : $IS ™ íI2 S
$ISSS * S S á B S
106,408
1885-86.. 21,208,000 11,759,525
2100
4285500
162,986
1886- 87.. 21,571,000 11,8621200
21 0 0
3 942 500
147,626
* These do not include the sinking funds for railroad loans.
IN« I . —The principal debt of Providence has been cre1 rr5Tater ^ ork8/ sewerage, the City Hall and Brook Street
1
^
5
9
9
«
7?9
564^1
due m 1893
1895-yy,it>7iy,5b4, 1899-1900, $141,178: 1900-Ofi-lfi
W9tAris $333,367;
tfij.Ro
275. Population, 1870 68,904; 1 8 8 8 ? > 1 8 , Thelaw s
Island now limit the debts of towns to 3 v. c. of their assessed valuation.
. . . .
6 5 3 ^ u ll7 o md’ Majr’ f®87, $65,613; population, 21,145 in 1880; 16,-
„ Years.
- ----Real Estate.
Personalty. Tax Rate.
1884....................................... $373,728,105
$9,884,578
$18 50
} 8 8 5 ...................................... 587,749,828
10,035,600
18 50
1886...................................... 601,001,971
10,307,644
18 50
1887
.............................. 618059.987
10.619 325
18 50
1888 . . . . . . .
......... . . . 644,063,374
3,149,665
j e s s e d valuations of property for 1887 w ere: Full citv oroperty,
f^ 9 j5 8 7 ’035; suburban property, $40,203,885; farm property, $18.888,392. Tax rate, $18 50.
Population, 1870, 674,022, against 847!i / u in iooU<
9
P e o r ia , 111.—Total debt, $670,500 Dec. 31. 1886 Poniilatim,
29 259 in 1880; 22,849 in 1870; in 1886 (estimated), 45 000
’
debt Jan. 31, 1887, was $13,206,823; net,
$11,165,«76. The assessed valuation in 1884 was: Real nronertv
$105,404,720; personal, only $1,838,258; tax rate, 1884, $16 per $1,000
?8^ e iln 1885, $108,530,608; personal, $3,000,0C0;
taf
$13- Total valuation m 1886-87 about $130,000,000; tax
rate $14. Valuation of real estate in 1887-8, $132,266 000- nersonal
f s 4 64’°2 0; t?xi rateV0E 8; Population, 156 389 i¿ 1880 ; 8 6 ! o 7 6 ¿
1870, and on July 1,1887 (-estimated), 205,000.
’
1887 ^were
^ « 1$147,627,
^ <«<v7T^not
, S1including
-nlai11?i-fuil®1a?
d avallable
March
31,
1887,
$1,350,000
P. Aassets
Og. RR.
bonds
The city is protected bv mortgages on Atlantic A St. Lawrence Railroad'
Population in 1880, 3á,810; 1870, 31,413; 1887 (esth T o,000 S e ^ l
sessed valuations, tax rate, Ac., have been:
■ '
xne as
„
Peal
Personal Rate of Tax Total
Sinking
1 8 * f s ¿ « 2 0 4 -fí^nn ^ o ^ ó n ^ l 1’000- Debt- Fimds/Ye.*
..............................-....... 12,307.131
.......................................... 11,963,450
1,899,550
1,739,630
18
18
—Population by U. S. Census in 1870, 19,229 ; in 1880, 21,966.
Norwich, Conn.—The valuations, tax rate, per $1,000, Ac., arev
Real
Personal
Rate of
Estate.
Property.
Tax
.................................. $7,505,514
$2,63c,956
$900
.................................. 7,624,571
2,459,352
9 00
CITY
September, 1887.1
13
SECURITIES.
Subscribers w ill confer a great favor by giving immediate notice o f any error discovered in tbese Tables.
DESCRIPTION.
For explanations see notes on first page of tables.
Bonds....................................................................
do .....................................................................
do ....................................................................
do ....................................................................
do ....................................................................
Waterworks coups, (acts Feb.,’81 & Jan., ’ 83).
do
............................................................
8 an Francisco— Bonds of 1858, coupon (gold)..
Park improvement bonds.................................
Dupont St. (special) (Act March 4,1876).......
Date of
Bonds.
1881-85
1870 to ’85
1868 t o ’81
1864 t o ’78
1860 to ’79
1886
1882-4-5
Various.
1868-9
1878
1858
1864
1865
1870
1874
1872 t o ’75
1871 t o ’73
1874
1875 t o ’76
1873-74
1876
1879
Size or Amount
outstanding.
par
Value.
$1,000
1.000
Various
Various
1,000
l,000&o
100 <feo.
100 &e.
1,000
500 &c.
500 &c.
500
500
500
500
500
500
&c.
&c.
&c.
&c.
&o.
&e.
100 ¿0 .
Various.
Large.
Large.
1,000
1,000
1,000
1875 to ’ 86
1874-’ 77
1870
’73,’74&79
18S3-’84
Worcester, M.—City, ($521,500 c., $1,521,900 r.) 1861 to ’83 500 <feo.
1870 to ’ 86
1870 to ’85 500 &c.
$81,000
901,600
468,000
523,747
263,125
425,000
1,500.000
559,500
375,000
398.500
99,000
174,000
100,000
285,000
200,000
475.000
210.000
150,000
407,500
1,579,000
919.000
3,397,500
1,170,000
335.000
48,000
63,000
1,200,000
140,000
976,000
296,000
432;000
1,000,000
475,000
1,943,400
785,000
655,300
Personal
Tax per
Total Assets in Sink.
Real
Property.
$1,000.
Debt.
Funds, &c.
Estate.
$31,722,000
$14 50 $9,941.188 $1,681,400
.. $90,143,400
14
509,890,688
1,843,785
.. 91.642,10030,854,400
14
509,568,188
1,438,328
.. 92,887.40031,314,600
14
009,685,817
1,701,985
.. 97.975,900 32,281,500
Richmond) V a . - In 1886-7 real estate valuation, $33,517,807;
personal, $14,575,848: tax rate per $1,000, $14. In 1885, real estate,
$32,347,803; personal, $13,751,666; tax rate, $14. Population, 63,600
in 1880; 51,038 in 1870.
R o c h e s t e r .—Total funded debt, $5,309,000 July, 1887. The bonds
of Genesee Valley RR. loan, $132,000, are provided for by net receipts
from a lease of said road to Erie Railway. Population, 89,366 in 1880;
62,386 in 1870; in 1882, estimated, 105,000. Assessed valuation (60
per ct. of true value), rate of tax, &c., have been:
Real
Personal
Tax per $1,000
Total
Years.
Estate.
Property.
in old Wards.
Debt.
1 8 8 3 .. .. $36,166,200
$1,817,200
27'65
$5,354,000
1 8 8 4 ..
..
37.270,850 1,778,100 32 2 2
5,284,000
1 8 8 5 ..
..
38.563,020 2,389,050
30-98
5,399,000
1886 .. 72,171,975
3,345,000
15-22
5,459,000
1 8 8 7 ..
..
72,860,300 4,529,000 16-45
5.309,000
In 1886 real estate valuation was at 80 per ctnt. Population in 1887
about 125,000.
R o c k l a n d , M e .—Valuat’n of real and personal estate, 1885, about
$3,900,000: tax rate, $26 per $1,000; 1886 valuations, $3,788,780; tax
rate, $22 50 per *1,000. Population. 7,599 in 1881; 7,074 in 1870.
St. Joseph, M o .—Population in 1880, 32.431; in 1870.19,565; in
1887, estimate 1 60,000. A compromise of the debt was made in new 4
per cent bonds, which are given for the full principal and interest of
old bonds. June 30,1887, there were in addition to bonds given above
$26.650 small issues and unpaid coupons. The net debt in August,
1887, was $1,740,200.
The assessed valuations (in 1887 one-half of actual valuation) and
tax rate per $1,000 for three years were as below :
Real estate.
Personal.
Tax rate.
$3,678,193
$23
1883 ......................................... $7,586,650
1884 ......................................... 7,873,150
3,700,222
22
1887
.............................. 15,000,000
............
21
—(V. 43, p. 50.)
St. L o u is .—Population by the United States census in 1870 was
310,864, against 350,518 in 1880. The city and county were merged
by law in 1877 and city assumed the county bonds. A claim of the
St. Louis Gaslight Company for gas furnished, amounting in all to
about $882,000, with interest to March 31, 1882, was decided against
thecity in 1880 andpaid. $548,000 renewal bonds, due 1900,are redeem
able in 1890: $913,000, due 1902-1905, are redeemable 1892-1895. Of
the bonds as given above, $2,348,000, maturing in 1888, will be redeemed
with proceeds of the $4,415,000 bonds of 18 87. In addition to the bonds
as given in above table, there are the follow ing: $10,000 Hospital, tis,
due in 1888; $44,000 Harbor, 6s, due 18s8; $55,000 Carondelet
indebtedness 6s, due 1895, and $100,000 Fire Dent., 6s, due 1895.
Assessed valuation of property and tax rate have been:
Real Estate ^-Rate of tax per $ l ,000.—.
and Personal
New
Old
Bonded
Years.
Property.
Limits.
Limits.
Debt.
1884
................$211,480,710
$5 00
$17 50
$22,105,000
1885 ...............
207,526,000
5 00
17 50
22,016,000
1886
.............. 214,427,690
5 00
17 50
22,942,000
1887
.............. 216,778,670
5 00
17 50
22,105,000
—(V. 44, p. 586; V. 45, p. 26.)
St. Paul) Mann.—Population in 1870 was 22,300; in 1880, 41,498
in 1887 the local estimate of population is 148,047. Assessed valua
tions of taxable property and tax rate have been:
Personal Rate of Tax
Total
Years.
Real Estate. Property, per $1,000.
Debt.
..........
$31,000,000 $12,000,000 $24 50
$2,328,040
1883
1884
................ 47,000,000 14,263,565
16 00
3,027,140
1885
................ 50,512,212 14,291,946
19 50
3,815.640
1836........................... 68,539,570 15,584,481
17 50
4,521,057
Valuation of real estate is about one-half of true value.
- •(V. 44, p. 473.)
Years.
1 8 8 3 ..
1 8 8 4 ..
1885..
1 8 8 6 ..
Rate.
4
5
6
7
8
4 I3
4 &5
4, 5 & 6
6
5
6 g.
7 g.
7 g.
7 g.
6 g.
6 g.
6 g.
7 g.
6 g.
INTEREST.
When
Where Payable, and by
Pay’ble
Whom.
Principal—Wht n
Due.
Various N. Y.
Various
Various
Various
Various
Am. Exoh’flre Nat. Bk.
1907 to 1912
do
do
1897 to 1915
do
do
1888 to 1904
do
do
1887 to 1903
do
1893 to 1904
do
do
do
1916
Various
do
do
1912 to 1915
Various
City Treasury.
Jan., 1888 to 1895
A. & O.
do
do
Api. 1,1888-1898
J. & J.
do
do
July 1,1904
J. & J. San F.& N.Y., Laidlaw & Co.
Jan. 1, 1888
J. & J.
do
do
July 1, 1894
M. & N.
do
do
M a y l, 1895
J. & D.
do
do
June1,1890
J & J.
do
do
July 1, 1894
J. & J.
do
do
1897 & 1904
M. & N.
do
do
Nov. 1, 1891
do
,r. & j .
do
July 1,1894
do
do
1899
7 g. j . & j . San.F.& N.Y.,Laidlaw& Co.
1896
Q—F. N. Y., Eugene Kelly & Co.
5
Feb. 1, 1909
4, 5,5*2,6 Various Boston, Nat. Security Bank
1887 to 1896
do
4, 5, 5-*a Various
do
1887 to 1906
4 1®
Various
Salem.
1887 to 1889
Various Boston, First National B’k.
6
1887-1890
do
6 & 7 A. & O.
do
Api. 1 .’94, to 1905
do
A. & O.
7
do
1887 to 1893
4 to 8 Various N. Y „ Imp. & Trad. N. Bk.
1888 to 1913
6 & 8 Various
do
do
1889-1892
do
7-3 M. & N.
do
May, 1900
do
6 & 8 Various
do
1893 to 1899
do
do
5
A. & O.
Oct.. 1913
4, 5 & 6 Various C.Treas.&Bost. Mchts.’ Bk. Jan. 1, ’ 88 to 1905
4, 413, 5 Various
do
do
1899 to 1905
33®, 4,5,6 Various
do
do
Jan. 1, ’88 to 1915
S a lem ) M a s s .—In addition to the debt as above given there were
in Dec., 188r>, $96,936 trust funds, payable on demand. The sininng
funds Feb., 1887, were $431,470, mostly consisting of City of Salem
binds. Population. 27,563 in 1880; 24,117 in 1870. Tax valuation,
1882, $25,528,242; tax rate, $15 50. In 1883 valuation. $25,614,115:
tax rate, $16. In 1884 valuation, $25,360,772; rate of tax, $17 50. In
1885 real estate valuation, $12,831,300; personal, &o., $12,234,830;
total, $25,066,130; tax rate, $16 50. In 1886 valuation of real estate,
$13,283.500; personal, $12,937,024; total, $26,220,523; tax rate, $15 50;
tax rate in 1887, $16 00.
San Francisco.—Population. 233,959 in 1880; 149,473, in 1870. The
Montgomery Avenue and Duuont Street bonds are special issues charge
able only on the assessment of property benefltted, and suits were in
progress October, la84, to determine their legal status. Sinking funds
raised annually amount to over $238,000, the amount on hand June 30,
1886, being $901,933. The assessments for four years and tax rate (per
$100) are given below. The following valuations are made by the city
and county. the valuations by the State being different, but the tax rate
below includes that for State purposes:
Total
Realty.
Personalty.
Tax Rate.
188182 ............... $155,834,879
$68.598,521
$18 05
18828 3 ............... 151,894,908
50,267,099
1802>«
1883- 8 4 ........................ 158,723,269
62,272,534
16971®
18848 5 .....
164,495,888
59,013,672
15 75
188.3-86....................... 171,416,426
56,192,922
15 95
S a v a n n a h . G a .—Default was made on interest Nov. 1,1876, in oonsequenoe of yellow fever and non-collection of taxes. The compromise
gave new 5 per cent bonds for the face of old bonds; and for interest up
to Feb. 1,1879, 58 per cent of the face value in similar bonds; also,
there are $386,500 of fives issued in exchange for Vtlantio & Gulf
RR. bonds. Assessed value of real estate and tax rate each year
have been as follows: In 1881, $10,500,000, $25; 1882, $10,650,000,
$30; 1883, $10,900,000, $30; in 1884, $12,500,000, $30; in 1885,
$13,000,000, $21 25.
Population in 1870, 28,235, against 30,709
in 1880.
S o m e r v ille , M a s s .—Total debt, Jan. 1, 1887, $1,525,000; sinking
fund, $58t,052. Property valuation in 1882, $23,162,200; in 1883»
$23,812,900; in 1884, $24,331,100; in 1885, $25,907,700; in 1886,
$26,003,200. Tax rate in 1885 and 1886, $15 40.
Except $140,000
5s in $1,000 pieces and $399,000 4s, all bonds are in $2,000 to $50,000
pieces. Population 24,933 in 1880; 14,685 in 1870.
S p r in g fie ld ) M a s s .—Total funded debt, Jan., 1887, $1,451,000;
cash assets, $149,734. The railroad debt falls due $20,000 each year.
Population in 1885, 38,000; 1870, 26,703. Tax valuation and rates
have been:
Personal
Tax rate
Years.
Real Estate.
property.
per $1,000.
1881
............
$23,795,920
$8,935,850
12 50
1882
.................
25,084,420
9,198,258
12 50
1883
.................
25,676,800
9.260,459
12 50
1884
...............
26,201,150
8,792,666
14 00
1885
.................
26,969,800
8,827,966
12 80
1886
................
27,638,760
9,143,442
12 80
—Valuation of real estate is about 67 per oent of true value.
Toledo.—Total debt, Jan., 1887, was $3,188,484. Of this the debt
payable by special assessments was $150,000 In addition to bonds
as given above, there are $29,000 6s, due 1891 and ’92, and $3.000 5s,
due ia 1888, 1895 and 1905, and $50,000 4s., due in 1907. Taxable
valuation ol real estate, 1885, $21,733,240; personal, $8,157,060;
total valuation, $29,930,300; tax rate, $28 per $1.000. Valuation, 1886,
real estate, $22,179,770; personal, $8,118,620; total valuation, $30,293,390; tax rate, $28. Population, 50,137 in 1880; 31,584 in 1870.
Worcester) Mass.—Total funded debt, Jan. 1, 1887, $3.506,700.
Cash assets Deo. 1,1836, $1,296,883, including $360,846 in sinking fund.
Population, 68,383 in 1885, 58,291 in 1880,41,105 in 1870. Tax valu
ation in 1882, $45.504,512: tax rate, $17 40 per $L,000 In 1883,
$48,570,335; tax rate, $ 17 20. In 1884, $50,773,475; tax rate, $16 60.
In 1885, $52,714.910; taxrate,$18. In 1886, $51,566,389; tax rate, $18.
14
INVESTORS’
SUPPLEMENT.
[Y ol. x l v .
Subscribers w ill confer a great favor by giving immediate notice o f any error discovered in these Tables.
Bonds—Prino DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount Par
For explanation of column headings, &c., see notes of
of
Rate per When Where Payable, and by Stocks—Last
Outstanding
Road. Bonds Value.
on first page of tables.
Whom.
Cent. Payable
Dividend.
Ala. N. 0. Texas<6 Pacific Jun e—1st debentures... 233
2d debentures............................................................
Ala. Ot. South’n.—1st mortgage, coupon.................... 290
Debentures, g o ld .......................................................
....
Albany <6 Susquehanna—S tock .................................. 209
1st mortgage.............................................................. 142
Albany City loan (sinking fund, 1 per ct. yearly). 142
Consol, mort. (guar. D. & H. endorsed on bonds).. 142
A llegheny Valley—Stock............................................... 259
General mortgage (Riv. D iv.).......................... ....... 132
Bonds to State Pa. (endorsed) 2d mort., East ext. 110
1st mort., East’n Exten., guar, by Pa. R R ............ 110
Funding income bonds, with traffic guarantee__ 259
Amador Branch—1st mortgage..................................
27
Asheville <£ Spartanburg—1st mortgage.................... . . . .
Ashtabula dt Pittsburg—1st mortgage, coup, or reg..
62
Atchison Ool. <6 Pacific—1st mort., guar.................. 254
Atchison Jewell Co. & West.—1st M., guar. C.B.U. P.
34
Atchison Topeka <&Santa Fe—S tock .......................... 2,516
1st mortgage, gold, ($15 000 p. m .)...................... 470
Land grant mortgage, gold. ($7,500 p. m.) . „........
Consol, bonds, gold, ($7,500 p. m .) ........................
Bonds, (secured by mort. bonds) $1,185,000........
S. F. bonds (secured by $630,000 plain hoods)__
Sinking fund bonds (secured by mort. bds.)..........
Sink, fund bds. (secured by deposit of mort. bds.)
Collateral trust bonds., gold (V. 44, p. 245)..........
Mort. bouds on Chic. property($l0,660,000)........
Wichita & Southwest., 1st M.,gold 1
(
27
Kans. City Top. & W. 1st M., gold I
66
do
do
income bds. ) Guar.reutal. \
Pueblo & Ark. Valley, 1st M.,gold |
j 282
Piieh ft. A. V., 1st (<fc 2d on!48 m. I
282
1882
1884
1878
1886
___
1863
1865
1876
1866
1870
1871
1874
1877
1885
1878
1879
1879
....
1869
1870
1873
1880
1880
1880
1881
1887
1887
1872
1875
1875
1875
1878
£100
£100
$1,000
£100
$100
1,000
1,000
1,000
50
1,000
100,000
1,000
100 &c.
1,000
....
1,000
1,000
1,000
100
500 &c.
500 &c.
500 &c.
1,000
1,000
1,000
1,000
100 &e.
_
1,000
1,000
_
1,000
1.000
$7,128,000
London.
April 1, 1907
6
2,23-2,000
6
do
June 1,1907
J. & D.
1,714,000
6 g. J. <fe J. N.Y.,Farmers’ L. & T. Co Jan. 1, 1908
134,000
London.
Aug. 15,1906
6 g- F. & A.
3,500,000
3 is J. & J. N. Y., B’k of Commerce. July 1, 1887
998,000
July, 1888
7
J. & J. N.Y.,Del. & Hud.Can.Co
1,000.000
do
do
6
M. & N.
1895-’97
8,488,000 6 g. & 7 A. & O.
do
do
April 1. 1906
2,166,500
4,000,000
7*30 J. ’ & ‘j . N. Y., Winslow, L. &Co. March 1,1896
2,3''0,000
Jan’ary Harrisburg, Treasury. 100,000 y ’rly.
5
10,000,000
A. & O. Philadelphia or London April 1,1910
7
9,723,100
A. & O. Pittsburg, Co.’s Office. Oct. 1. 1894
7
675,000
J. & J. N. Y., Cent. Pacific RR. Jan. 1. 1907
6
500.000
r. & J.
6
1925
1,500,000
F. & A. Phil., Fid. I.T. & S.D.Co. Aug. 1,1908
6
4,070,000
6
Q.—F. N.Y.,Un. Pac.RR.Office May 1,1905
542,000
Q .-F . N.Y.JJn.Pac. RR office. May 1,1905
6
Q.—F. Boston, V. Y. <fe Chic. Aug. 15, 1387
75,000,000
l^s
7,041,000
7 g. J. & J. Boston, North Nat. Bk. July 1, 1899
2,426,500
do
do
Oct. 1, 1900
7 g. A. & O.
108,500
do
do
April 1, 1903
7 g. A. & 0.
1,007,000
A. & O. Boston, Boston Nat. B’k. April 1, 1909
5
3,519,000
do
do
5
M. & S.
Sèpt. 1, 1920
4,687,000
4ifl A. & O. Bosfc. Safe Dep. & Tr. Co. Oct. 1. 1920
12,142,000
Dec. 1, 1911
6
,T. & D. Boston, vCo.’s Office.
6,500,000
Feb. 1, 1937
5 g. F. & A.
F. & A.
dr
412,000
7 g. J. & J. Boston, North Nat. Bk. July 1, 1902
854,000
7 g. J. & J. Boston, Everett N. Bk. July 1, 1905
200.000
Mar. 1, 1906
do
do
7 g. M. & S.
1,633,000
7 g. J. & J. Bost., N. Bk. of N. Am’a July 1, 1905
1.942,000
July 1, 1905
do
do
7 g. J. & J.
Alabam a N, O . Texas 6c Pacific Junction (Limited).—(See
Atchison Jewell Co. 6c W est. —Jamestown, Kan., to Burr Oak,
Map (Jinn. N.O. <&T.P.)—fills is an English Co. controlling the Vicksburg Kan., 34 miles. Under same auspices and control as Atchison Colorado
& Meridian, 142 miles; Vicksburg Shreveport & Pacific, 189 miles; N. 0. & Pacific. Stock, $202,800, of which Union Pacific owns $105,000. R en
& North Eastern, 195 miles; and Spanish Fort R’y. near New Orleans, 13 tal is $34,000 oer annum.
miles. It also controls the Cincinnati New Orleans & Texas Pacino
Topeka 6c Santa F e . - (See Map.)—L ine o p R o a d .—
Railway Co. (lessee of the Cincinnati Southern Railway). The manage A Atchison
complete detailed statem“nt of the lines of road operated on Deo.
ment of the company is the same as that of the Alabama Great 31,1886,
was
given in the C hronicle , V. 44, p 5588. The totals of the
Southern RR. Length of roads, 862 miles; add Ala. Gt. Southern RR., 295 different systems
are as follows: Atchison, 1,895*50 miles; Southern
m iles; entire system, 1,157 miles. The preferred or “ A” shares are Kansas, 630-30 miles—total,
systems, 2,526 miles; Chicago Kan
£1,500,000, having a preference for 6 per cent dividends and cumu sas & Western, 401-23 m iles; both
Sonora, 350-19 miles ; roads owned jointly
lative, and the deferred or “ B” shares £2,500,0o0; par value of all with other companies (one-half
of
192-08 miles), 96-04 miles: total,
shares £ 10 each. The first debentures are redeemable any time at 115,
miles. The results on all these systems (except the Chicago
on six .months’ notice. The company holds the following securities, viz.: 3,373-26
Kansas
&
Western,
under
construction
1886) are included in tne
Cin. N. O. & Texas Pacific $532,000 stock; Vicksburg & Meridian, Atchison Topeka & Santa Fe report. Ininaddition
to the above, the
8245,000 1st mortgage, 8105,000 2d mortgage, $416,500 3d mortgage, Atchison Company owns exclusively the Gulf Colorado
& Santa Fe RR ,
$1,464,300 preferred stock and $363,000 common stock; of Vicksb. 847-30 miles, an i is p irt owner of the California Southern
RR., 210-61
Shrevep. & Pac. $3,692,000 1st mort., $1,931,000 incomes and $1,594,- miles, and the Atlantio <fe Pacific RR., 917-75 miles. The operations
of
000 stock; of N. O. & North Eastern $4,900,000 1st mort. and $4,320,three roads are, however, kept entirely distinct from those of the
000 stock; N. O. Spanish Fort &L. RR. $300,000 1st mort. and $200.<>00 these
other
systems
and
are
not
given
in
the
Atohison’s
reports.
The
roads
com. stock. Report for 1886 in Chkonicle , V. 45,p. 52. (V. 45, n. 52.) may be summarized as follow s: Operated directly (Atchison Topeka &
Alabama Great Southern.—(See Map Oinn. A. O. <6 T. P.)—From
Fe and Southern Kansas), 2,526 miles; operated indirectly, 847
Wauhatchie, Tenn., to Meridian, Miss., 290 miles; leased, Wauhatchie Santa
owned and partly owned, but operated by separite companies,
to Chattanooga, 5 miles total operated, 295 miles. The Alabama & miles;
1,975-66
miles; grand total, 5,319 miles. (S'nce Jan. 1,1887, about750
Chattanooga RR. made default Jan. 1,1871, and road was sold under fore miles of new
road have been completed.) The California Southern gives
closure Jan. 22,1877. Present company organized Nov. 30,1877, and is a through route
the Pacific coast at San Diego, via the Atlantic &
controlled by an English company of the same title. The lands were Pacific RR. Theto
Gulf C >1. & Santa Fe road was bought in April, 1886.
conveyed in full settlement to the holders of the $2,000,000 of Alabama
O
rganization , L eases , &c.—The A. T. & S. Fe. Co. was incorporated
State Donds. These lands (about 550,000 acres) are held by trustees. March 3,1863, and includes the Atchison & Topeka RR., incorporated
(V. 30, p. 117.) The debentures are made exchangeable for any mort
The land grant was received by Act of Kansas Feb. 9,
gage bonds that may be created subsequent to the debentures. Capital Feb. 11,1859.
The main line of 471 miles was opened Deo. 23, 1872. The
stock—common, $7,830,000, and preferred 6 per cent, $3,330,350. 1864.
whole
system
outside
of the main line is nominally under different cor
Gross earnings in 1885, $1,076,188; net, $128,140. Gross in 1886, porations, of which the
ownership is vested in the A. T. &S. F., and the
$1,215,195; net, $276,798. (V. 42, p. 7 2 7 ).
also leased to that Co., and interest on the bonds usually paid as
Albany 6c Susquehanna.—Road owned from Albany, N. Y., to roads
rental.
The
Southern
Kansas
the Sonora systems are not leased,
Binghamton, N.Y., 142 miles; branches operated Duanesburg Junction, but are controlled by ownershipand
the stock.
N. Y „ to Schenectady, 14 miles; Cobleskill, N. Y., to Cherry Valley, 21 The fiscal year ends December of
31.
miles; operates Lackawanna & Susquehanna RR., 22 miles; Ease GlenIu Aug., 1884, an agreement was made for the control of the Mojave
ville to Coons, 10 miles; total operated, 209 miles. Leased in perpetuity Division
the Southern Pacific and a right for traffic over the Soutnern
from Feb.. 1870, to Delaware & Hudson Canal Co.; rental, 7 per cent Paciflo toofSan
Francisco. In 1886 the Atlantic & Pacific 1st mortgage
on stock and interest on bonds. Additions and betterments charged to bondiaterest was
reduced to 4 per cent and the b inds guaranteed onelessors, and cost made part of investment. The consol, mort. is for $10,- half each, save rally
not jointly, by the Atchison and Sau Francisco
000,000, of which $3,000,000 are 7 per cents, currency; the principal of companies. See Atl. but
& Pao. and St. L. & San Fran, in this S upplement .
the 6s. is also payable in “ lawful money,” but the interest in gold. Gross
In
April,
1888,
the
G.
C.
& S. F. was purchased by the Atchison Com
earnings in 1885-86, $2,841,409; net, $1,202,770; surplus to lessee after pany by the exchange of G.
C. & S. F. stock for Atchison stock, $8,000,all payments, $259,760. (V. 43, p. 580; V. 45, p. 180.)
OOO
in
all.
See
official
circular,
V, 42, p. 630.
Allegheny Valley.—Owns from Pittsburg, to Oil City, Pa., 132
S
tock and B onds—The stook has been increased rapidly to present
miles; branches—Red Bank, P a.,to Driftwood, 110 miles; others, 17 figures for the acquisition of the auxiliary lines and by way of stock
miles; total operated, 259 miles. The company became embarrassed
In August, 1887, there was offered to stockholders
In 1874 and compromised with its creditors. It still falls short dividends.
new stock at par, raising the whole stock to $75,000,000
of earning interest liabilities. Of the Income bonds the Pennsylvania $10,000,000
as above when all issued. Dividends have been—in 1879, 3 percent;
RR., Northern Central and Philadelphia & Erie hold $6,087,000, the in
1880, 8 ^ ; in 1881, 6 cash and50 stock; in 1882 and in subsequent
Interest on which was paid altogether in bond scrip. The coupons of years
6 per cent has been regularly paid. The range in prices of stock
guaranteed bonds held by the Pennsylvania Railroad for advances in Boston
was—in 1881, 92®15414; in 1882. 7878®961s ; in 1883, 78®
amount to $5,232,710. In 1886 the charges for mortgage interest and SOfi; in 1834,
in 1885,
in 1886, 797s®100; in
car trust payments were $1,115,604, income bonds nil; deficit in net 1887, to Sept. 16, incl., 9638®11978.
earnings, $432,384. In May, 1884, receivers were appointed at the
Such bonds as are held in the company’s treasury, or leased line bonds
instance of the Penn, and other railroads as plaintiffs.
From January 1 to July 31 in 1887 (7 months) gross earnings were held as collateral for any of its own bonds given above, are not included
$1,109,867, against $997,602 in 1886; net, $399,405, against $346 984 in the above amounts outstanding. The land grant bonds reoeive the
of land sales in payment of interest and principal.
In 1885 gross earnings were $1,780,133; net, $671,134. In 1886’ proceeds
The sinking fuud 5 per cent bonds due Sept. 1,1920, are plain bonds
gross, $1,812,729; net, $681,230; interest, $1,115,604; deficit, $432 384* (not
mortgage)
and partly secured by deposit of $630,090 plain bonds
- ( V . 43, p.546; V. 44, p. 21.)
’
Kansas City Topeka & Western RR. sinking fund is 1 per cent per
Amador (Branch.—Galt, Cal., to lone, Cal., 27 miles. Leased till of
annum,
with
which
bonds are drawn at 101.
Nov. 1, 1890, to Cent. Pacific; rental $3,500 per month. Stock. $675 The 4 ^ per cents due October, 1920, have $4,650,000 of the 6 per
000. Earnings in 1885, $31,243 gross and $12,705 net. In 1885 gross
cent
mortgage
bonds
of the Rio Gr. Mex. & Pao. and $500,000 of the
earnings $39,448; net, $13,124. Leland Stanford, Pres’t, San Francisco. Rio Gr. <feEl Paso roads
as security, the sink. fd. being l ’a p . ct. per an
A.shevUle & Spartanburg—(See Map Richmond <& Danville) — num, rising to 3 by 1910, with which bonds are bought or drawn at par.
From Spartanburg, 8. C., to Asheville, N. C., 71 miles. Formerly
The 6 per cent bonds due Dec. 1,1911, have as security 1st or 2d mort.
Spartanburg & Asheville; sold in foreclosure April, 1881, and reor bonds of a number of the proprietary or controlled railroads, at not
ganized. Stock $1,050,000. In 1883 the mortgage for $500,000 was over $ 25,000 per mile, deposited in trust as collateral; they are re
18 miles to Asheville; in 1885 a new mortgage for deemed at 105 by the sinking fund, which is 1 per cent per annum till
$500,000 was authorized. Controlled by Richmond & Danville. "Gross 1891 and 2 per cent thereafter.
The 5 per cent bonds, due April 1,1909, are secured by the N. Mex.
$ 2 9 ^ 3 8- *deflcflf"$5 I l f ’ 572 ’ deflcit’ $4’611, Gr083 earnings in 1885-6,
& So. Pac. 1st mort. 7s.
Ashtabula 6c Pittsburg.—Owns fro n Youngstown, O., to AshtaThe collateral trust bonds of 1887 are direct bonds of the Atchison,
eala Harbor, O., 62-6 miles. This company was organized Sept. 25,1878 company, agaiost which are deposited in trust the bonds of branch lines
after foreclosure, and it is leased by Penn. Co., which pays net earn constructed in California and Colorado, not at any specified amount per
ings to A. & P. The common stock is $958,591 and preferred $700 - mile, but “ issue! for the cash cost only of the roads, including equip
oi,
9f 8hares- $50. Gross earnings in 1886, $396,689; net ment.” See circular in V. 44, p. 245.
$133,753; interest. $90,000. In July, 1887, a a new organization was
The bonds of $10,000,000 on Chicago property are secured on ter
made by consolidation of this road with the Niles & Alliance. Law minals, &c., in that city.
rence & Newcastle and New Brighton roads, under the title of Pitts'.
Interest on the Sonora RR. in Mex. (262 miles) 1st M. bonds is guaran
burg Youngstown & Ashtabula. (V. 45, p. 112.)
teed ; those bonds are at $20,000 per mile, of which $5,000 per mile are
Atchison Colorado 6c Pacific.—Watervilie, Kan., to Washington owned by the A. T. & S. F. Co.
_ ° r®eillea;f - Kan., to Logan, Kan., 155 miles; Logan to
The Californit Southern 1st mortg. bonds are guarantee 1 (by endorse
Lenora, Kan., 25 miles; Downs, Kan., to Ball City. Kan., 24 miles- Yuma ment on the bonds) as per the agreement of reorganization for that
^ n‘A i^ Wi} f ^ lckV,31 S iles: totai i 254 miles. The road forms an exteu- company made in 1885. The first coupon on the income bonds was
f4®?
the Union Pacific Central Branch, by which the bonds are guaran- paid September, 1887. Sinking fund of $25,u00 per year retires the
i« adKS controlled and the whole system is virtually owned first mortgage bonis at ll2 .
by Union Pacific, but operated by Mo. Pac. Stock, $1,522,400, of which
The Wichita & Western, Wichita to Collison, Kan., 100 miles, is owned
U. P. and C. P. own $920,300. Rental is $254,370 per annum
Jointly with the St. Louis & San Fran., but bonds are not guaranteed.
RAILROAD STOCKS AND BONDS.
Enlarged Scale of
ÄTCH. TOP. &. SANTA FE
R.K’s in KANSAS
S eptember ,
1887.]
'V
'Sales
. Dirnuris
zg
Magdalena
Sta.Ana
K
Qnerobabi .0
Carbo
j
*
J
HermosiJIo
Torres fa
** ctTy
MEDICINE LODGES*^—
ATr,C5CE
KIOW
A<sre
«.
_____________KIOWAT
CALDW
ELL® ..
Ortiz
j C H I H\ U A H U A
CHIHUAHUA.
iTCHISON, TOPEKA
AND
SANTA FE R.R.
CUAIMAS
Santa Rosalia
A 2ÍD C O N N E C T IO N S .
10
INVESTORS’
d e s c r ip t io n .
SUPPLEMENT.
INTEREST OR DIVIDENDS.
Bonds—Princi
Miles Date Size, or
Amount Rate per
pal, When Due.
par
of
of
When
Where
Payable,
and
by
Stocks—Last
Road. Bonds Value. Outstanding Cent. Pay’ble
Whom.
Dividend.
on first page of tables.
Aten. Top. <£S.Fe—(Continued.)—
Kan. City Emporia & S..lst m ort.. . . )
(
64 1879 $1,000
Cow. Sum.& Ft. Smith, 1st m ort.......f G’rantee !
1,000
92 1879
Marion & McPherson, 1st mort........ f rental 1
1,000
93 1879
Florence El Dor. & W., 1st M., gold.. J
1,000
26 1877
Wichita & Western—1st mortgage cou p................
1,000
45 1884
Leay. T9P. &S. W.—1st m., %guar .by At. &% byÜn.P
1,000
46 1882
N. Mexico & So. Pac.—1st M., gold, guar, rental
1,000
372 1877
Sonora, 1st mort., gold, interest guaranteed ......
1.000
262 1880
California So., new M. gold, guar.by A.T.&S F.
1,000
210 1886
Income bonds.................. .................................
1,000
1886
Chic. Kan. & West., 1st, gold, guar, by Ä.T.& S. F
450 1886 100 &c.
a? ,
income bds. non-cum.($7,000 p. m.] 450 1886 100 &c.
Chic. Santa Fe & Cal., 1st mort., gold, guar........
1,000
1*87
Southern Kansas—K.C. Law. & So., 1st mortgage. 19 5 1879 500 &c.
Southern Kansas & Western—1st mortgage....... 139 1880
1,000
Sumner County RR.—1st m ortgage....................
1,000
18 1880
Ottawa & Burlington RR.—1st mortg............
1.000
42 1881
S. Kan. (Gulf Divis.)—1st, g ’ld,guar.by A. T.& S.F. 350 1886 100 &c.
Income bonds (not cumulative) $1,000 per mile)
1886 100 &c.
Southern Kansas in Texas, 1st mort., gold, guar..
1886 100 &c.
Atlanta <£ Charlotte—Stock (guar. 5 p. ct. by rental) 269
100
New pref. mort..................................
1,000
265% 1877
Mortgage bonds.....................
1,000
265% 1877
Income bonds, registered (not c u m u l a t i v e ) !
500
1880
Atlanta & West Point—Stoch............
100
80
Debenture certificates............... ..... ..."
....
Ì881
Atlantic & Northwestern—1st mortg.. gold, guar...
£100
&o
325
Atlantic d Pac.—A.& P. guar, trust bonds, g old .......
927 1887
1,000
Incomebds., non-cum’tive, W. D. ($18,750p. m.).
50 &c.
640 1880
1st RR. & land gr. bonds on Cent. & Mo. Divisions
1871 500 &c.
1st land grant bonds on Central Div.. cumulative ÜL2 1871 500 &c.
Income bonds, Cent. Div.,non-oum. ($18,750 p. m.) 112 1882
1,000
Arizona Mineral Belt—1st M., gold ($‘2P,0()o p m,'
1,000
75 1 1886
hy the A. T. &S. Fe, and one-half by the Union Paciflo.
a me p^o^c^ ° Kansas & Western stock ($10,000 per mile) is held by the
A- 1. « 8 . Fe, and the first mortgage bonds, at $14,000 per mile, are
S J i ^ ntee<i -F,
tatter company, and these, with the income bonds at
¥7j00l) per mile, were issued as per the circulars in V. 43, p. 59, V. 44,
p. 245. The roads covered by these bonds are about 900 miles of branch
lines in Kansas constructed in 1886 and 1887.
The Chicago Santa Fe & California Railroad is the company in Illinois
and Iowa forming the connecting line from Kansas City to Chicago,
about 450 miles—Kansas City to Fort Madison, la., on Miss. River,
about 200 miles, then to Pekin, 111., about 160 miles, and then over Chi
cago & St. Louis (purchased) 90 miles. Its bonds, ($35,00 >par mile) are
guaranteed by the Atchison, and are a first lien on all but 9o miles, on
which there is a prior mortg. of $1,500,000, for which bonds of this issue
are held to retire them at maturity See V. 44, p. 148,
The Southern Kansas Gulf Division and the Southern Kansas in
Texas first mortgage bonds were issued as per circulars in V. 42,
P*.
V. 43, p. 431. The bonds are guaranteed, principal and
interest, by the Atchison Topeka & Santa Fe. The Gulf Divisiou bonds
cover the road from Arkansas City south through Indian Territory
towards Denison, and also the bran oh from Kiowa on the Kansas
border southerly to Wolf Creek and the Texas border (in the Panhandle).
b Kansas R tilroad in Texas was organize! to build that part
of the line in Texas, and on both lines the bonds are at $16,000 per mile,
guaranteed by Atchison. The income bonds issued by the So. Kansas
Gulf Division are at the rate of $1,000 per mile and not issued till these
two divisions are completed.
L and G r an t .—The lands are practically sold out. Land sales in 1886,
347,322 acres for $348,839, being an average of $2 44 per acre; assets
Dec. 31,1886, $1,3^3,817 contracts and interest on contracts, and 1,391
acres yet unsold.
O pe r a tio n s , F inances , &c .—The connection with the Atlantic &
Pacific took effect for business in October, 1883, and the through
line to San Francisco by use of the ¡Southern Pacific lines Oct. 1 1884
In Nov., 1885, the Cal. Southern was completed, giving a through route
to the Paciflo coast by the Atlantic & Pacific road.
From Jan. 1 to July 31 in 1887 (7 mos.), gross earnings were $10,6/6,5 3 7 ,against $8,24J,478 in 1886: net, $4,872,863, against $1.602.528.
The report for 1886 was in the Chronicle, V. 44, pp. 5 -<3 and 586.
Earnings and operations and income account were as follows, these
statistics embracing the Atchison Topeka & Santa Fe and Southern
Kansas systems combined, but nothing of the Sonora, Atlantic & Pacific,
or roads owned jointly, although the interest on Sonora bonds is
deducted h ere:
OPERATIONS AND FISCAL RESULTS.
If84 .
1885.
1386.
Miles operated............................
2,374
2,397
2,526
Operations—
Passengers carried one mile___ 135,412,096 149,999,427 176,810,489
Rate per passenger per mile___ 2-648 cts.
2-593 cts.
2-277 cts.
Freight (tons) carried one mile.634,711,316 607,753,550 687,399,093
Rate per ton per mile............. . 1-882 cts.
1-789 cts.
1-615 cts.
Earnings—
$
$
$
Passenger..................................... 3,583,018
3,889,411
4,026,005
Freight......................................... 11,946,453
10,873,621
11,100,967
Mai express, &c.........................
762,412
808,363
857,335
Total gross earnings........ 16.291,883
15,571.395
15,981,307
Operating expenses—
Maintenance of way, &c..................................2,861,236
2,280,291
2,186,767
Maintenance of equipment______________ 1,461,896
1,409,732
1,395,719
Transportation expenses..................................3,560,610
3,777,357
4,128,340
Miscellaneous..............................
670,856
388,393
410,129
421,378
Taxes............................................
459,194
492,956
Total operating expenses 8,9:5,976
8,314,967
8,613.911
Net earnings................................ 7,315,907
7,256,428
7,370,396
P. ct. of op. expenses to earns..
55-09
53-40
53-89
INCOME ACCOUNT.
Receipts—
1884.
1885.
1886.
Net earnings..................................$7,315,9o7
$7,256,428
$7,370,396
28,488
Rentals, dividends, &o................
28,012
33,785
Other receipts*.............................
142,014
149,743
62 »,859
From land grant trusts..............
188,281
180,188
170,63 -i
Total income.......................... $7,674,690
$7,614,371
$8,l98,o73
Disbursements—
Rentals paid.................................
$37,093
$25,500
$20,40 )
Int. on At.T.A 8. F.and So. K. bds 1,812,544
1,980,664
2,004,679
Interest paid as rental................
866,655
854,930
829.499
Interest on land bonds................
188,281
180,188
170,633
Interest on Sonora bonds................................
283,500
283.500
Int. on Leav. To & So. W. bonds.
27.t 00
Dividends...................................... 3,414,736
3,414,786
3,738 478
Rate of dividend.........................
(6
( 6)
( 6)
Sinking funds...............................
269,716
299,525
311,340
Paid to other roads....................
241,677
46,093
73,227
Miscellaneous...............................
.....
25,000
Total disbursements............. $6.830,707
Balance, surplus.......................... $343,983
[V ol . XLV.
$7,110,186
$504,185
$7,459,356
$739,317
$532,000
798,000
713,000
775,000
761,000
1,380.000
4,425,000
4.050,000
2,106,000
3,595,000
12,200,000
6,100,000
15,000,000
2,940,000
1,659,000
212.000
500,000
3,920,000
(?)
(?)
1,700,000
500,000
4,250.000
750,000
1,232,200
1,232,200
6,650,000
17,610,009
12,000,000
1,189,905
796,629
2,100,000
(?)
7 g.
7
7 g.
7 g.
6
4 g.
7 g.
7g.
6
6
5 g.
6
5 g6
7
7
6
5 g.
6
5 g.
2%
7
7
6
3
6
5 g.
4 g.
6
6
6
6
6 g.
J. & J.
A. & O.
A. & O.
A. & O.
J. & J.
J. & J.
A. & O.
J. & J.
J. & J.
M. & S.
J. & D.
May 1
J & J
A. & O.
J. & J.
M. & S.
A. & O.
M. & S.
Boston, North Nat. Bk. July 1, 1909
do
do
Oct. 1, 1909
do
do
Oct. 1, 1909
Aug. 1, 1907
Jan. 1,1914
Boston, Am.L’TiA-T'i" rv. July 1, 1912
Boston, Everett Nat.Rk A p rili, 1909
J a n .1, 1910
Boston’ and New York' Jan 1, 1926
M archi, 1926
Boston. Office of Co
June 1, 1926
J u n e l, 1926
N. Y., Hanover Nat. Rir Jan. 1, 1937
Apr. 1, 1909
Jan. 1, 1910
do
do
Sept. 1, 1910
April 1. 1909
do
do
Sept. 1,1926
do
do
1926
M. & S.
do
do
Sept. 1,1926
M. & 8. N.Y. Central Trust Co. Sept. 7, 1887
A. & O.
April 1,1897
J. & J.
do
do
Jan. 1, 1907
A. & O.
April 1,1900
J. & J. Atlanta, Ga., atTreas’y. July 15, 1887
J. & J.
1891
J. & J. Lond., Baring Bros.&Co. Jan. 1, 1937
J. & J. N. Y., Mercati’ Trust Co. Jan. 1, 1937
A. & O.
Oct. 1, 1910
M. & N.
Nov. 1, 1891
At Mat.
Nov., 1901
J. & D.
June 1, 1922
J. & J.
do
1916
* Includes net laud receipts Southern Kansas RailwayCo., sundry
profits, and balance of general interest account.
a
* C h a r lo tt e A ir L in e .—Owns from Charlotte, N. C., to
Atlanta, Ga., 269 miles. The Richmond & Atlanta Air-Line was sold
De°- 5’ 1876> and the existing corporation was formed
Feb. 27,1877. On March 26, 1881, tne road was leased to the RichDanville at a rental of $462,000 per year, equal to the interest
on debt and 5 per cent on stock; if gross earnings of A. & C. A L
J,1’5!}0’000’ dividends to be 6 per ce n t; and if they exceed
$2,500,000, 7 per cent.
Atlanta & W est P oint.—Owns from East Point, Ga., to West
Point, Ga., 80 miles; leased, 6% miles; total operated, 86% miles. In
April, 1881, a controlling interest in the stock was purchased for the
Central Georgia, and a stock dividend of 100 per cent was afterward
declaredm debenture certificates. Gross earn’s in 1886-87, $39 4,649: net,
$160,586; surplus over dividends and interest, $12,724; in 1885-86
gross, $397,259; net, $138,001. (V. 45, p. 142.)
Atlantic & Northwestern.—Line in progress across the State of
Maine as connection of the Cauidian Pacific. Bonds negotiated in
London May, 1897. The Dominion Government «rants a subsidy
for 20 years at $186.0 )0, and Canadian Paciflo guarantees the balance
of the interest, £28,013 per year. ( V. 4 4, p. 652.)
Atlantic & Pacific.—This corporation was chartered by Act of Con
gress July 27, 1866. The Western division is from Isleta, near Albuquer
que, on At. Top. ifc Santa Fe, to Big Colorado River, 560 miles, with
Gallup/unction branch, 4 miles. At Big Colorado River it meets the
line to Moiave, Cal. (242 miles), leased by this Co. in 1884 from the
Southern Pacific of Cal. The Cal. Southern gives a through route to
San Diego on the Pacific coast. It leases also A. & P. Junotion to
Aibuquetque N. M., 13 miles; total opera ed, 819 m. Also the Central
Division is finished from Seneca, Mo., to Sapulpa in the Indian Ter
ritory, 112 miles, and operated by the St. Louis & San Francisco Rail
way Co.
By the tripartite” agreement of Jan. 31, 1880, the Atch. Topeka <fe
8. F. and the St. Louis <&S. F. guaranteed 25 per cent of the gross earn
ings over their lines to pay coupons, and large advances were made to
the A. & P. by both those companies. In Oct., 1886, the plan was made
to exchange the A. & P. first mort. bonds for the new 59-year 4 per cent
bonds due in 1937, guaranteed severally (but not jointly) by the two
companies, each company guaranteeing one-half or each bond. (See
V. 43, p. 571, 559, 607.) Stock authorized is $100,000,000, and
issued $64,810,300 (par $100), of which $51,302,600 is owned oy the At.
T. & S. F. and the St. Louis <ft 8. F. companies equally, and deposited
in trust tor thirty years. The stook is classed thus: Western Div., com.
stock, $44,750,000; Cent, and Mo. divs., com stock, $3,665,300; pref.,
$11,395,000. The old pref. stock has no preference over the A. & P.
Western Division stock. An estimate of the income bond status and
prospects was in V. 45, p 310.
The Southern Pacific sold the 242 miles of road from Mojave to The
Needles, on the Colorado River, to the A. & P. Company for $7,271,100, payable in A. & P. 1st mortgage bonds, issued on said 242 miles,
to amount of $3,059,2)0 and $1,211,850 in cash. Until clear title
to this piece of ro id is given, the A. & P. takes possession and pays
6 per cent per annum on the $7,271,000. The same negotiation gave
a right by contract to run through trains to San Francisco over the
Southern and Central Paciflo lines on payment of rental either on a
mileage basis or at 3 per cent per annum on $40,000 per mile. See V. 39.
p. 208; V. 40, p. 50.
The land grant claimed under the old A. & P. charter of July, ’ 66, is
25,600 acres per mile in Territories and 12,800 acres in States. On
the West. Div. upards of 14,000,000 acres in New Mexico and Arizona
have been earned by construction, and in the Indian Territory 2,600,000
acres more, the best of these lands being well adapted for grazing. The
proceeds of sales of the company’s lands have so far been applied to pay
ment of interest on A. & P. bonds or the lands have been pledged and
conveyed in trust to the Atchison and San Francisco companies, and
nearly 6,000.000 acres have been so disposed of. For statement as to
land sales. &c., up to Jan. 1,1887, see Ch ronicle , V. 44, p. 751. A
map of the land grant was published in the Chr >n i c l e , V. 36, p. 468.
Gross earnings in 1886 were $1,624,649; deflcic under operating ex
penses, $41,364; r eceived from A. T. & 8. F. RR. Co. and St. L. & S. F.
R’y Co., to be repaid, $295,000.
No annual report since 1884 has been published. (V. 43, p. 48, 2 1 6 ,
458, 503, 571, 607; V. 44, p. 21, 22, 148, 544, 751; V. 45, p. 340,
368.)
Atlantic & St. Lawrence.—Owns from Portland, Me., to Island
Pond, Vt. (and branch), 151 miles, there connecting with Grand Trunk
of Canada, to which leased for 999 years, August 5,1853, at a rental
equal to bond interest and 6 per cent on stock. Tlie bonds for $541,
000 to city ot Portland are provided for by accumulations ot sinking
fund. The Grand Trunk RR. owns the 2d and 3d mortgage bonds,
$2,213,000. The stock of $5,484,000 is mostly £, with dividends pay
able in London. Gross earnings in 1885-86, $1,002,884; net, $255,814.
BONDS.
AND
STOCKS
RAILROAD
'
S e p t e m b e r , 18870
18
INYESTOKS’
SUPPLEMENT.
[ V o l . XLY.
Subscribers w in confer a great favor by giving immediate notice o f any error dlscoveredjinjthese Tables.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Bonds—Princi
Miles Date Size, or
Amount
When Due.
For explanation of column headings, &c., see notes of
Par
of
Rate per When Where Payable, and by pal,
Outstanding
Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Atlantic A St. Lawrence.—Stock.................................. 151
$100
$5,484,000
3
M. & S. London and Portland.
Augusta A Savannah,—Stock......................................
Sept., 1887
100
53
733,700
3*3 J. & D.
Savannah.
June, 1887
Bald Eagle Valley—Gen’l mort. ,(s. f. $4,000 per yr.)
1,000
80 1880
380.000
6
J. & J. Phila.,F.Ins.Tr. &S. Dep. Jan. 1, 1910
Baltimore A Ohio—Stock............................................ . 1,793
100
14,792,566
4
M. & N.
Baltimore, Office,
Preferred stock..........................................................
May l , 1887
100
5.000.
000 3
J. & J.
do
do
July, 1887
Doan due in 1880, extended...................................
578.000
4
J.
&
J.
do
do
At will.
Loan, 1853, extended in 1885.................................
1853
1.710.000
4
A. & O.
do
do
Oct.
1, 1936
do 1870 .sterling, *800,000, sink, fu n d ..........
1870
1.709,275
M. & S. Lond’n.BaringBros &Co Mar. 1, 1895
Baltimore loan, 1855-’90, sink, fu n d .....................
1855
S
‘
2.575.000
J. & J.
Baltimore,
Office.
Sterling mortgage, sinking fund.............................. 411 1872
1890
*100
6,937,109
6 g. M. & 8. London, J.S. Morgan&Co Mch. 1, 1902
Sterling mortgage, sinking fund............................ 421 1874
*200
8,141,771
M. & N. London. F.S. Morgan&Co May, 1910
Purchase of Connellsv. RR (payable $40,000y ’ly)
1875
560.000
§ g* J. & J.
Baltimore, Office.
1886-1900
Loan,ster.,(s.f.*7,500)(B.O. & Ch.bdscollat’l)....... 263 1877
*200
7,74=4,000
J. & D. Lond., Baring Bros.&Co. June
1,1927
Bonds (Parkersburg Branch bonds collateral)___ 104 1879
1,000
3.000.
000
i
g*
A.
&
O.
Balt.
& N.Y., D. M &Co. April 1,1919
Bonds to State of Maryland.....................................
1878
366.000
6
.
J.
&
J.
Baltimore,
Office.
July
1
1888
Equipment loan ($2,500,000) gold ........................
1,000
1887
2.000. 000 4*3 g. J. & J.
Baltimore.
10 p. o. yearly
Sterling mortgage on Philadelphia Branch..........
*200
1883
11,616,000
A.
&
O.
4*3
g.
London,
Brown,
S.
&
Co.
April 1,1933
Bonds, gold (Pittsb. & Connellsville b’ds collat’l). 150 1885
1,000 1^ 000,000
5 g. F. & A.
New York Agency.
Feb. 1, 1925
Mort. on Schuylkill R. East Side RR., gold (guar.)
1,000
1886
4.500.000
J. & D. Philadelphia, Agency. Deo.
Consolidated mortgage (for $28,00(',000)............
1, 1925
1887
(?)
I
sBaltimore A Potomac—1st M (tunnel) gold, s. f. 1 p. c.
1
,
0*00
1871
1*3
1.500.000
« *• J. & J. London or Baltimore. July 1, 1 9 H
1st mort., road, gold, coupon, s. f. 1 per c e n t.......
1,000
90 1871
3.000.
000
A.. & O.
Baltimore,
April 1, 1911
2d mortgage, income, road and tunnel, reg..........
92 1875
1,000
2.000.
000 !* ■ J. & J.
do
Beech Greek—1st mortgage, gold........................... .
Jan. 1, 1915
129 1886
1,000
5.000.
000
J. & J. N. Y., Gr’d Cent. Depot. July 1, 1936
Car trust loan............................. ..................
1887
300.000
Belleville A El Dorado—Is t(int. guar. St.L. A.& T.H.j *52 1880
$37,500p.ann.
220.000
7
J. & ‘ j . N .Y .St.L.A .& T .H .R R . July, 1, 1910
2d mortgage................... ...........................................
52 1880
330.000
6
F. & A.
do
do
Belleville A South. III.—1st M. (int. & s. f . guar.)!! ! ! !
Aug. 1, 1920
56 1866
1,000
1.041.000
8
A. & O. N.Y. St. L. A. & T. H. RR. Oct. 1, 1896
Belli Gap.—Stock..........................................................
25
550.000
5
1st m ortgage.................. ............................¿’. . . . i l l !
Jan. 1, 1887
1873
250.000
7
J. *&‘ *J Phil.,Cassatt,Town.&Co July 1, 1893
Extension 1st mortgage....................................... .
1875
100.000
6
F. & A
do
Consol, mort. (for $550,000)............................. . . . "
Aug. 1, 1905
1883
189.000
6
A. & O
Belvidere Del.—1st mort. due 1877, extended, guar!
April 1, 1911
64 1877
1,000
1.000.
000 6
& d : Philadelphia, Pa. RR.
1902
Augusta & Savannah.—Owns from Millen to Augusta, Ga., 53
Total. grain, of all
’82-83.
’ 83-84.
’84-85
’ 85-8ß
miles. Leased to Central of Georgia for $73,000 per annum Has no
T, kinds - ............. bush 12,770,39211,553,052 13,048.258 13 718 4 on
bonded debt.
............!
0nS’
90,530
82
4
87
67.800
’
v o ’a lS
B ald Eagle Valley.—Owns from Vail Station, Pa., to Lockhaven
Lumber..... .......... tons,
93,332
107,398
86,560
92,831
Pa., 51 miles; branch, Milesburg, Pa., to Bellefonte. Pa., 2 ^ miles Through merchandise—
Snowshoe to Sugar Camp, 26*3 miles; total operated, 80 miles. Opened
? asiA 1l<i-W'est---- tons. 2,108,325 2,275,252 2,338447 2,731,119
December^, 1864, and leased to Pennsylvania Railroad Company for 99
years. The branch is the property of the lessors. Rental, 40 per cent
of gross earnings. Gross earnings in $1885, $463,156; net, $231,719.
Gross in 1886, $103,529 ; net, $208,427. In Feb., 1885, 5 per cent paid.
and net earnings of the main stem and its branches and of the
Stock is $935,000 (par $o0), and div’ds arc paid according to earnings.
other divisions for the last fiscal year, as compared with 1884-85, were:
Baltim ore & O h io —(See Map).—L ine o f R oad —The B.&O. system
—Earnings, 1884-85.—
Earnings, 1885-86.
embraces roads in Md., Va., Penn., Ohio, Ina. and 111., which are clearly
Gross.
Net.
Gross.
Net.
shown on the accompanying map. By means of the Cincinnati Washing- Main stem, eto............. $9,733,252 $3,969,900 $9,846,613 $4,026,366
315,308
top v.
iv* ^ B iP ^ ^ rsburg, the road has a direct route to Cincinnati. Washington Branch..*.
194,771
325,320
234,506
R* oc O. mileage is : Main stem, Baltimore to Wheeling, 379 miles, Parkersburg Branch...
547,757
48,848
663,044
161,347
and branches, 272 miles, total, 651 miles; Washington Branch, Relay to Central Ohio Division.
1,060,166
295,856
1,270,476
478,523
Washington. 31 miles; Parkersburg branch, Grafton to Parkersburg, Lake Erie Division
817,785
119,918
1,013,014
309,711
1,721,612
104 miles: Central Ohio division, Bellaire to Columbus, 137 miles; Lake Chicago Division.........
261,605
2,093,568
269,916
i,’999,’980
Erie division, Newark to Sandusky, 116 miles; Chicago division, Chicago Pittsburg Division.......
773,419
2,430,085
842,421
299,372
Junction to Chicago, 271 miles; Pittsburg division, Cumberland to wheeling and Pitt. Div.
7,840
446,259
13,450
Philadelphia
Division.
.
.
.
.
Pittsburg, 150 miles, and branches, 94 miles, total, 244 miles; Wheeling
114,767
15,246
118,43*6 def.*29,10*2
& Pittsburg division, Glenwood to Wheeling, 66 miles; Straitsville divi New’k Somerset & St’le
214,291
35,208
sion, Newark to Shawnee, 43 miles; Philadelphia Division, 99 miles ;
Totals . . . . . . .
$16,616,642 $5,643,057 $18,422,43? $6.38(i’ t W
Lauderburg Branch, 20 miles; total operated, 1,783 miles. The Balti
Results on all lines in four years have been:
9
’ 94
more & Ohio Philadelphia branch, connecting with the Balt. & Philadel. Years.
Gross Earnings.
Operating Expenses.
Net Earnings.
RR., makes a line from Balt, to Phila., and thence via the Schuylkill Val. 18828 3 . . .. . . . . $19,739,837
$11,034,014=55-89
p.
c.
$8,705,823
& East Side RR. to a connection with the Phila. & Read, fines to Bound 18838 4 ........ 19,436,607 11,676,307=60 07 “
7,760,300
Brook, N. J. Thence the proposed route to Staten island, as noted in 1884- 85........... 16.616,642
10,973,585= 66 03 “
5,643,057
Ch bonicle , V. 41, p. 611.
188586----------- . . . . 18,422,437
I , , _1
12.035,743=65-33
6.386,695
Obgaotzation , L eases , &c.—The corporation was chartered in Mary ^a a ’ A ^ p4r199’ 24i ’ 387’ 458’ 5 9 3 >« 0 « . 635, 671; V. 44, p 89, 343,
land Feb. 28,1827, and in Virginia March 8,1827. First section opened 400, 433 ; V. 45, p. 13, 52, 112,178, 304,368.)
May 24, 1830. The company was assisted by loans from the City of r ^ aTlt lm iire, *
m a c . —Owas from Baltimore. Md., to South
Baltimore. Tho
witli the auxiliary branches and leased roads End Long Bridge, Va., 43 mil*s; and from Bowie to Pope’s Creek 49
2 ie
’ but
virtually owns nearly all of these east of miles ; total, 92 miles—including tunnel in City of Baltimore. The road
the Ohio River,
the total charges for rentals and guarantees are
ooutrolied by the Pennsylvania Railroad Co., and first mortgage bonds
moderate. The B. & 0 . Telegraph Co. has been operated, buoitsearn- 13*55?2 5 0
poon®ylvania and Northern Central. Capita? stock,
mgs, expenses, &c., have not been reported. The B. & O. Exnress was $3j553,250. In 188 >, gross earnings, $1,335,844: net earnine-s $519 ’
sold in Sept., 1887, to the U. S. Express Co. The B. & o ! Railway Co
L B s s S ™ L e i^ ;:
bad
™ “ ,inal 8UrPlU8 t0 credit of income account Sept. 30, 1886, of “ i£8- $1«3¿3.091; net, $5,>4,:>40; interest oharge. $297 181- snrnlna
$4:0,047,4ol.
T n fj ’l l09!
b
wholly b el!1b y Penn- R R- Co. From J a n fl to
Stocks and B onds—The pref. stock carries 6 per cent dividends onlv July 31.’ I 887 (7 months), gross earnings were $818,644, against $747 against ¡w * /,
Tffie common stock has p a id -in 1877, 8 per cent; in 1878, 8 in stock; in 476 m 1886; net. $ 283,690, against $283,224.
C re e k .-J e rs e y Shore, Pa., to Gazzam, 104 miles: branches
In 7? ’ 1S& cko?lu| 4 ca4 ; 1880> 9; ^ 188l>1882’ 1883, 1884 and 1885, to Philhpsburg,
to
mines,
&c.,
25
miles;
total,
129
miles
This is suc
10;
-EaM e in prices of common stock in Baltim >re in 1881
cessor to the Beech Creex Clearfield & 8. W. This company was formed
,W% *188£ ? 1 9 ;o1? ’ 8V 99? 202 i ia ’8 3 ,1921a@205 ; i n ’ 84, 167®199; on
reorganization in 1866 with the above mortgage bonds an i $1,300,000
in 85, 166^3® 185; m 86,150® 191; in ’87 to Sept. 16, incl., 120® 180.
The Baltimore & Ohio direct bonds of 1879 on Parkersburg a n / IT.imrei<afi7l,Ck .a nd.^ 3-790’°0 ? common shares $50 each. In Jan.
Branch are secured by deposit of mortgage on that road. The sterling and July, 1887, paid dividends of 2*3 per cent on pref. stock. In 1886
mortgage of 1883 is made to William F. Burns, John Gregg and T. Hat? gross earnings were $ 179,116; net, $ io3,442. Wm. A. VVUlace Clear’
nson Garrett, trustees, and secured also by pledge of *1,000,000 1st ae» ' ’ ¥?a" Pre®idet)f* (V. 44, p. 362, 4i9 ; V. 45, p. 13, 203.)
mort. bonds of the Balt. & Phila, RR. (Md. State line to Phila.) The , "C llc Y ilt e & El Dorado.—An extension of Belleville & 80 Illinois
£°n<l®oi 1877, due 1927, are secured by the mortgage bonds of the B. riant-P0 wiU0/ ai1?AEi Dorado>52 miles, and leased to St. L. Alton & Terre
O. & Chic, roads deposited as collateral. The B. & O. bonds of 1885 are Haute. Rental 30 per cent of gross earnings up to $2,500 per mile, and
secured by $ 10,000,000 2d consol, bonds of Pittsburg & Connellsville J;'7_ P®r cent on all above that amount. Rental received for 1884
t?»r 1f 8 ® $ 15^63; for 1886, $15,707. Stock, $1,000,000.
'
RR., deposited with Umon Trust Co. of N. Y. as trustee. The bonds of
Belleville & Southern Illinois.—Owns from Belleville, 111., to
igie Schuylkill \ al. & East Side RR. are guaranteed by B .& O .; the
Duquom,
Id.,
56
miles.
It
was
leased
Oct.
1,1866,
to
the
St.
Louis
Alton
&
Pennsylvania Co. for Insurance on Lives, &c., is the trustee.
The general purpose and certain details of cue consolidated mort leiT© Haute Railroad Co. Lease rental 40 per cent of gross earnings
up to $7,000 per mile (except on coal, &c.), 30 per cent above $7,000 and
gage oi 1887 for $28,000,000 were in V. 4b. p. 368.
up to $14,000 per mile, and 20 per cent on any excess of $14,000 per mile.
■ii ! o ^ II(S \ S S ! > A cr Tlle syndicate transaction in September. Rental
forl884, $ lo8 ,7 99 ; for 1885, $157,917; for .1886, $168,108. In
iS 87, by which $5,090,000 of consol 5 per cent bonds and $5,000 OO0
o f pref. stock were negotiated to pay off floating debt, and the execu terest on bonds, and sinking fund $5,000 per year, guaranteed by lessees
Common
stock, $430,000; pref. 8 per cent stock, $1,275,000, non-cumutive control of the road was changed, was reported in the Oi i b o n i c l e , V.
45, p. 304, 368. The fiscal year ends with Sept. 30, and for 1885-86 an lative. Dividends on preferred stock past four years have been—5 in
1886;
5
in
1885; 5 J gin l88 4 ; 6i4=inl883; 5 ia in l8 8 2 ; 4 ia in l8 8 1 .
abstract of the report was given in the C h b o n i c l e , Vol. 43, n 605
President Garrett remarked of the year’s work: “ It is shown that the
Bells Gap.—Bellwood, Pa., to Irvona, Pa., 26 miles. Gross earnings
earnings of the main stem and the branches stated in comparison with in 1864-5, $146,036; net, $78,830; interest paid, $34,479; dividends.
the fiscal year 1885 have increased $113,361 and the working ex- $16,500; surplus, $27,851. Gross earnings in 1885-86, $160,252; net
netnrnflr« Af
rfu6’895, makl« S a comparative increa-ein the $78.230. Of the consol, mortgage $350,000 is reserved to retire prior
net profits of $56,465. The expenses of working and keeping rhe roads issues. Stock was increased in 1883 to $550,000. Chas. F. Berwind
’
and machinery m repair amounted to $5,820,247, being 59-10 per cent Pres., Philadelphia.
upon the earnings, showing a decrease of ll-100ths of 1 per cent com
Belvidere Delaware.—Owns from Trenton, N. J., to Manunka
pared with the previous year.’’
* * * “ The surplus fund, which Chunk, N. J., 67 miles; Millham Cut-off, 1 mile, Flemington RR. 12
represents invested capital derived from net earnings, and which is not miles; total operated, 80 miles. Leased to United Companies, and trans
represented by either stock or bonds, now amounts to $48,047,461 ” ferred to Pennsylvania RR. March 7,1876, by which operated as their
Fiscal year ends September 30.
Belvidere Division, and net earnings paid over as rental. In Feb 1885
the Flemington RR. Co. was merged in this. The 1st mort. and new 4
o f^ n n a g e c^ried9-0 ^ f0Ur 7earS Pa8t 18 sbownby the following table p.c.bonds
are guaranteed by the United Co’s. In 1885 netearnings were
Coal and coke carried—
’ 82-83.
’81-84.
’84-85.
’ 85-86. $467,670 and interest payments $269,718. In 1886, net, $454,2o2; int.,
On main stem (tons)... 2,581,557 3,268,521 3,487,170 3,673,488
$263,341. Capital stock, $1,150,000; par of shares, $50.—(V. 43, p. 578.)
Of which for Co.’s use
409,695
439,912
443,544
489,361
Bennington & Rutland.—Owns from Rutland to Bennington,
On Pittsburg D iv.____ 2,402,130 2,157,696 2,003,982 2,427,238
Vt., 57 miles; branch, No. Bennington to New York State Line, 2 miles;
On Trans-Ohio D ivs....
684,696
966,458
909,594 1,329,681 total, 59 miles. Chartered as West. Vermont in 1845, and consolidated
Total.......................... 5,668,383 6,392,675 6,400,746 7,430,367 m Harlem Extension in 1870. Since Sept. 10,1877, the Vermont division
(as above) operated by the reorganized Bennington & Rutland. Stock
Carried to Baltimore—
$1,000,000 authorized (par $50), and $502,000 issued. In 1885-6 gross
Flour....................... bbls.
701,935
717,258
766,163
752,150
earnings,
$205,y22; net. $3-),393; interest, $33,250; deficit, $2,857.
Wheat.....................bush. 6,633,443 6,415,550 3.383.859
Gross earnings in 1836-7 were $198,763; net, $24,651; deficit under
Corn........................bush. 4,935,900 3.472,940 8.383.859 3,437,159
9,474,275 interest, $8,599.
* nijuaa
,
t*i
S e p t e m b e r , 1887.]
RAILROAD
STOCKS AND
BONDS,
19
Subscribers w ill conifer a great favor by giving Immediate notice of any error discovered In these Tables.
Bonds —Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
When Due.
Amount Rate per When Where Payable, and by pal,
For explanation of column headings, &c., see notes of
of
Par Outstanding
Stocks—Last
Road. Bonds Value.
on first page of tables.
Whom.
Cent. Payable
Dividend.
Belvidere D el.-(ConVd)—Cons, mortgage of 1876..
Consol, mort., reg„ guar, by Un. Co’s & Pa. R R ...
Flemington RR. M. bds...........................................
Bennington <&Rutland—1st mortgage.......................
Berkshire—Stock...........................................................
Boston <& Albany—Stock..............................................
Plain bonds, coupon or registered..........................
Bonds issued to State for its stock..........................
Boston Concord <&Montreal—Old pref. stock, guar..
Sinking fund bonds ($624,000)............... ................
Consolidated mortgage bonds (for $2,000,000)___
Improvement mortgage bonds.................................
Bosl.Hoosac Tun.& West.—Debenture b on d s.............
Boston <t Lowell—Stock.................................................
Bonds...........................................................................
Bonds..........................................................................
Bonds...........................................................................
Bonds...........................................................................
Bonds...........................................................................
Bonds......................................................... .................
Boston <£ Maine—Stock...............................................
Boston <t N. ¥. Air-Line—Stock, pref. (guaranteed)
1st mortgage........................................................... .
boston dt Providence—Stock.......................................
Bonds to purchase branches, coupon or rearistered
67 1876 $1,000 $1,200,000
7
J. & J. Treasurer. Trenton, N.J.
4
67 1885-7 1,000
l,250,0a0
Various Philadelphia, Pa., RR.
12 1876
250,000
6
J & J. Treasurer, Trenton,N.J.
1,000
475,000
7
M. & N. N. Y., Union Trust Co.
59 1877
1,000
22
600,000
Q.—J. Stockbridge, Treasurer.
1%
100
2
384
Q .-J .
Boston, Office.
100 20,000,000
7
5,000,000
F.
& A.
do
¿872
1,000
6
J. & J.
2,000,000
1875
1,000
5
A.
&
0.
3,858,000
do
1882
800,000
2 % M. & N.
Boston, Office.
186
100
1,000,000
186
100
6
202,000
j. £ j .
Boston, Office.
1858 100 &c.
6 & 7 A. & 0.
1,947,400
do
do
166 1873 200 &c.
6
500,000
J. & J.
do
do
1,000
166 1881
1,400,000 /
M. & S. Cp. Sep.,’85, pd. J ’y,’ 86.
1883
1,000
5,
fA
3*2« J. & J.
5,329,400' '
Boston, at Office.
717
100
7
A.
O.
999,500
do
do
1872
7
M. & S.
500,000
do
do
1875
6
J. & J.
750,000
do
do
1876
620,000
5
J. & J.
do
do
1879
4^3 M. & N.
250,000
do
do
1883
4
M. & S.
500,000
do
do
1885
6
A. & O.
200,000
do
do
6
A. & 0 .
226,900
do
do
200,000
6
5
100,000
5
M. & N.
7,000,000
Boston, at Office.
583
100
J. & J.
do
do
3,500,000
7
1873-4
F. & A.
4
926,000
1885
2
A.
&
O.
N.Y.,
N.Ÿ.
N.
H
&
H.Co.
2,983,500
54
100
F. & A.
do
do
500.000
50 ¿880
1,000
5
y
M.
&
N.
4^
4,000,000
Boston, at Office.
68
100
J. & J.
do
do
500,000
7
1873
.
Berkshire.—Owns from Connecticut State Line to West Stockbridge, Mass., 22 miles. Leased in perpetuity to Honsatonio Railroad
Company at 7 per ct. on capital stock, $600,000. Lessors pay taxes, &c.
and for this reason the quarterly dividend due in Oct. is usually omitted’
Boston Sc Albany.—Owns from Boston, Mass., to Albany, N. Y.,
201 miles; numerous branches, 99 miles; leased lines, 84 miles ; total
operated 384 miles. The Boston & Albany was formed (Dec., 1867)
by the consolidation of the Boston & Worcester and the Western rail
roads. The five per cent bonds of 1882 were issued to the State of
Massachusetts in exchange for 24,115 shares of B. & A. stock held by
the State, and in September, 1883, out of this stock a stock dividend of
10 per cent was made to stockholders. In 1886 another 313 per cent of
stock was given to stockholders. Last annual report in Y. 43, p. 578.
From October 1 to June 30 in 1866-7 (9 mos.) gross earnings were
$6,371,960, against $5,936,604 in 1885-6 ; net, $1,876,779, against
$2,889,593; surplus over fixed charges, $841,860, against $877,620.
Operations for four years were as follows
Passenger Freight (ton)
Gross
Net
Div*
Years. Miles.
Mileage.
Mileage.
Receipts. Receipts.* p. ot1882- 3 .. 369 157,255,971 373,535,456 $3,539,875 $2,380,971 8
1883- 4... 384 167.402,441 374,347,455
8,148,713 2,362,836 8
1884- 5 .. 384 167,097,784 398,862,058
7,637,982 2,344,305 8
1885- 6 .. 384 177,787,439 390,464,378
8,298,733 2,488,345 8
* Net receipts include income from rents, <fcc.
- ( V . 43, p. 22,163, 514, 5 7 8 ; V. 44, p. 212. 586; Y. 45, p. 180.)
Boston Concord & M ontreal. —Owns from Concord, N. H., tc
Woodsville, N. H., 93 miles; branches—Woodsville, N. H., to Groveton
Junction, 53 miles; Wing Road to Mt. Washington, 20 m iles; leased
Plymouth to No. Woodstock, 21 miles; total operated, 186 miles.
In June, 1884, leased to Boston & Lowell. Of the sink, fund bonds due
in 1889, there are outstanding in the hands of other parties, $202,000, on
which interest is paid; the trustees holding $306,000 and the corporation
holding $116,000 on which no int. is paid. Fiscal year ends March 31.
—(V. 44, p. 525.)
Boston H o o s a c Tunnel Sc W estern.—Owns from Massachu
setts State Line to Rotterdam (junction of N. Y. WestSh. & Buff.RR.), N.
Y., 61 miles, and leases branches to Saratoga and to Schuylerville, N. Y.,
26 miles; total, 87 miles. The road connects with the line running
through the Hoosae Tunnel.
The work of construction was done under contract by the Continental
Construction & Improvement Co. (12o Broadway. New York), and in
May, 1887, that company sold its iuterest in the B. H. T. & W. road to
the Fitchburg RR. of Mass., for $2,900,000 Fitchburg preferred stock
and$2,0u0,c00 of common stock. The Fitchburg RR. assumes $i,4o0,
000 B. H. T. <&W. 5 per cent debenture bonds outstanding. That com
pany also set aside $700,000 preferred stock, into which the $2,800,000
common stock of the B. H. T. & W. Co can exchange one share for four.
This plan sums up as follow s: $3,600,' 00 Fitchburg pref. stock. $ ;.000,000 F.tcnburg com. stock, $1,400,000 deb bonds, or $7,000,000
paid for the property. The transfer was to take place about J une 1,1887.
For year ending Sept. 30,1886, gross earnings were $632,304; net,
$182,250; inteiest, $400,000; taxes, $18,933.—iV. 43, p. 102, 216, 635;
V. 44, p. 212, 620, 681, 682.)
Boston Sc Lowell.—Owns from Boston to Lowell, 27 m.; branches Salem & Lowell, 17 miles; Lowell & Lawrence, 12 m iles; others, 22
miles; Middlesex Central, 20 miles; leased—Nashua & Lowell, 15 miles;
Stony Brook RR., 13 miles; Wilton RR., 15 miles; Peterborough Rail
road, 10 miles ¡-Manchester & Keene r R., 29 miles; Central Mass., 44
miles; total leased, 126 miles; total owned and leased, 224 miles. Also
operates B. Con. &Mon.. 187 miles; No. of N. Hamp.. 83 miles, and Con
cord & Claremont, N. H., 90 miles; total in 1885-86, 717 niles.v The
Lowell & Lawrence and Salem & Lowell railroads were purchased and
consolidated in 1879 and the Middlesex Central in 1883. In September,
1886, a lease of the Central Mass. RR. was made.
In June, 1884, a lease of the North, of New Hamp. and the Bost. Con.
& Montreal railroads was made, and control of those roads was then as
sumed. In March, 1887, the Northern lease was held void.
In June, 18»7, the Connecticut & Passumpsic Road was leased and a
lease of the B. & L. and all its branches to the Boston & Maine was
effected by vote of stockholders on June 21.
The company had $920,000 notes outstanding Sept. 30.1886. Earn
ings, etc., have been as follow s:
1884-85.
1885-86.
Total income.................................................... $4,037,439
$4,628,386
Operating expenses......................................... 2,623,434
3,184,470
Net income.......................................
Disbursements—
Taxes....................................................... ........
R e n ts .......... ..........................................
Interest.................................................... ........
$1,443,916
263,282
$170,175
71t,568
253,084
Total disbursements....................... ........ $1,129,029
Balance................................................... ........
$284,976
Dividends, 6 per cent........................ ........
' 251,151
$1,141,828
$302,037
290,133
$163,204
$11,954
Surplus............................ ............... ........
$33,825
—(Y. 43, p. 190,174, 579, 7 7 3 ; Y. 44, p. 59,369, 458, 544, 751,- 807.
Jan. 1. 1916
Sept., 1925-27.
Jan. 1, 1916
Nov. 1, 1897
July 1. 1887
June 30, 1887
Feb. 1, 1892
July 1. 1895
April 1, 1902
May 2, 1887
Jan. 1,1889
1893
1911
Sept. 1, 1913
July 1, 1887
April 1, 1892
March 1,1895
July 1, 1896
July 1, 1899
May 1, 1903
Sept. 1, 1905
Oct. 1, 1897
Oct. 1, 1898
1891
1900
May 16,1887
Jan.,1893 & 94
' 1905
Oct., 1, 1887
1905
May 2, 1887
July 1, 1893
Boston Sc Maine.—Owns from Boston. Mass., to Portland
Me., 115 miles; branches, 11 miles: leased—Boston to New Hamp. State
line 41 miles; N. Hamp. State line to Maine State line 16 miles; Maine
State line to Portland 51 miles; Conway Junction to North Con wav 73
miles; Worcester, Mass., to Rochester, N. H., 94 miles; numerous short
branches, 187 miles; total operated Sept. 30. 1886, including East
ern, 584 miles, less 3 miles leased. In March. 1883. voted to lease
the Eastern RR. of Massachusetts, but after litigation the lease was held
to be invalid and a new one was made in December, 1884, on the Dasis
stated under title of the “ Eastern” in this Supplement. In Dec., 1885,
leases of the Worcester Nashua & Rochester and the Portland & Roches
ter railroads for 50 years from Jan. 1, 18S6. were confirmed by vote of
stockholders. In June, 1887, a lease of the Manchester & Lawrence
road was made for 5o years, and a lease of the Boston & Lowell for 99
years was also made, including the lines controlled under lease by that
company—the Boston Concord & Montreal, the Connecticut & Passumpsio. &c.
The fiscal year ends Sept. 30. Annual report in V. 43, p. 717.
INCOME ACCOUNT.
Receipts—
Gross earnings..............................
Net earnings...............................
Rentals, interest, &e....................
1884-85.
$6,232,096
$2,071,090
279,463
18=15-86.
$7,253,881
$2,500,472
289,809
Total income...........................
$2,350,553
Disbursements—
Rentals pairt................................
$1,225,526
interest on debt........ ............
266,424
Dividends ....................................(8 p. c.) 560,0 "0
Eastern (under lease)..................
158,603
$',365,117
255,440
.^^ep. c.) 665,000
469,724
$2,790,281
Total disbursements.............
$2,210,553
$2,755,231
Balance surplus.............................
$140,000
$35,000
—(V. 43, p. 607, 7 1 7 ; V. 44, p. 184, 369, 458, 544, 807.)
Boston Sc New York Air Line.—Owns from New Haven, Conn.,
to Willimantic, Conn., 50 miles; leased, Tumerville to Colchester, 4
miles ; total operated, 54 miles. Formerly the New Haven Middletown
& Willimantic. A lease was made in Oct., 1882, to the N. Y.N.H.& Hartf.
RR. for 99 years at 4 per cent dividends per year on the pref. stock and
interest on the bonds ; the common stock is $834,900.
Boston Sc Providence.—Owns from Boston, Mass., to Providence
R. I., 44 miles; branches,20 miles; leased, Attleborough to North Attle
borough. 4 miles; total operated, 68 miles. Co. has valuable depot
properties in Boston. Notes outstanding Sept., 1886, were $260,000.
Gross earnings in 1885-86, $1,784,805; net, $399,380; in 1884-85,
$1,677,066; net, $381,326.—(V. 43. p. 6 05.)
Bradford Bordell Sc K ln z u a - (3-foot gauge)—Mileage from
Bradford, Pa., to Simpson, Pa., 15 miles; IGnzua Junction to Rew City,
2 miles : Rew City to Eldred, 12 miles ; Simpson to Sraethport, 10 miles ;
total, 39 miles. Stock is $500,000, par of shares, $100. In Nov., 1885,
bondholders subscribed 5 per cent on their bonus to resume payments.
Gross earnings in 1885, $71,897 ; net, $19,775. Gross earnings in
1836, $74,13o; net, $10,226, John J. Carter, Titusville, Pa.,,Pre8’t.
Bradford Eldred Sc Cuba.—Owns from Eldred, Pa., to Bolivar
and Wellsville, N. Y., and branch to Richburg, and Cuba to Little
Genesee, 54 miles. Stock, $480,000. There are also 2d mortgage bonds
for $60,000, 6s, which were due June 1, 1885. Foreclosure suit begun
in February, 1885. Thus. C. Platt appointed receiver in Oot., 1885, and
$28,526 certificates authorized. Gross earnings in 1884-85, $42,856;
def. $1,393; def. under interest, taxes, etc., $36,010; gross in 1886-86,
$45,824; deficit, $10,963; interest, $33,600; total deficit, $44,563.
Total deficit to Sept. 30,1886, $90,248. R. G. Taylor, President.
Brooklyn Elevated.—Line of road from Fulton Ferry and Brook
lyn Bridge via Broadway, &c., to East New York, 6 % miles. This
is the Brooklyn Elevated Railroad organize! O ct.,1884, as successor t o
the Brooklyn Elevated Railway sold In foreclosure May 12,1884. The
capital stock is $5,000,000; the second mortgage bears 3 per cent interest
till 1888 and 5 per cent thereafter.
From October 1 to June 30, in 1836-7 (9 mos.) g'-oss earnings were
$374,544 ; net, $180,521 ; deficiency under charges, $8,427.
The annual report to State Commissioner for year ending Sept. 30
1886, gave gross earnings $518,480; net, $139,108 ; total payments,
$203,772; net deficit, $64,312. Henry W. Putnam, Preside»*;.—(V. 43,
p. 693 ; V. 44, p. 212, 654 ; V. 45, p. 2L2.)
Brooklyn Sc M ontauk.—Brooklyn to Eastport, L.
67 miles;
branches to Fresh Pond Junction, 1 mile; to Rockaway 9 m iles;
total, 77 miles. This was first the South Side Railroad jof Long
Island, which was foreclosed Sept. 16, 1874, and reorganized as the
Southern of Long Island. On June 3,1879, the property was again sold
in foreclosure of the second mortgage, and this company organized.
The preferred stock has a preference of 7 per cent, not cumulative. It
is leased to the Long Island Railroad for 50 years, from October, 1879,
at 25 per cent of the net earnings of the whole Long Island RR. system,
including its leased lines. No rental has been reported as paid, and no
public reports are issued. L. I. RR. guarantees interest on $750,000
of the bonds, and both principal and interest on $250,000. Daniel Lord,
President F. B. Lord, Secretary, New fo r k City. (V. 44,p. 808.)
INVESTORS’
s o
SUPPLEMENT.
[V ol. XLV,
Subscribers w ill confer a great favor by giving immediate notice o f any error discovered in tbese Tables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per
Par
of
For explanation of column headings, &c., see notes of
When Where Payable, and by Stocks—Last
Outstanding
Road. Bonds Value.
on first page of tables.
Whom.
Cent. Payable
Dividend.
41
Bradford Bordell dk Kinzua—1st mortgage.............
Bradford Eldred dk Ouba—1st m ort..........................
54
Brooklyn Elevated—1st mort.......................................
6-9
2d mortgage (for $1,250,000).................................
6-9
Brooklyn & Montauk—Stock ($1,100.000 is pref.) ..
77
First mortgage, guaranteed by Long Island RR..
77
Brunswick <6 Western—1st mortgage, gold................ 171
Buff.Brad.dk Pitts.—Gen. M.,(incl. 10,000 ac. I’d)___
26
Buffalo New York dk Erie—Stock.......................... ..
142
First mortgage...........................................................
140
Buffalo N. i . dk Philadelphia—Stock, common....... 663
Stock, preferred......................................................... 663
1st mortgage, gold.................................................... 121
121
2d mortgage, gold......................................................
Consol, 1st mortgage, gold....................................... 205
Trust mort., gold (secured by collaterals).............
General mortgage (for $24,500,000)..................... All.
Buff. Pitts. & W., M. bds (for $7,500,000 coup.)___ 261
do
1st mort. (W. & F. R R .)...............
57
do
1st M.(Oil Cr. RR.) renew’d, ’82..
38
do
1st mort. (Un. & Titusv. RR.)___
25
do
Consol, mort. (Pitts. T. & B .)___ 120
Income bonds for funded coupons..........................
Car trusts, principal and interest............ .......... .
Buffalo Hochester dkPittsburg.—R. & P. 1st m ort... 108
R. & P. Consol, mortgage......................................... 258
R. & P. Income mortgage.........................................
R. & P. Equipment bonds (car trust) in 3 series...
Buffalo dk Southwestern.—Stock (one-half of it pref.)
67
1st inortgage bonds, g o ld .........................................
67
Burlington <T. Rapids dkNorthern—Stock................... 1,039
1882
1881
1884
1885
1881
1883
....
___
1876
.
....
1871
1878
1881
1882
1884
1881
1865
1862
1870
1876
1881
1882
1881
Var’s
1877
—
$500
1,000
1,000
1,000
100
1,000
500&C.
1,000
100
1,000
50
50
500 &c.
500 &e.
1,000
1,000
1,000
1,000
1,000
1,000
500 &o.
100 &c.
1,000
1,000
1,000
1,000
....
1,000
100
$498,000
6
500,000
6
3,500,000
6
1,250,000
3-5
2,000,000
1,000,000 5 <&6 g.
2,500,000
5 g580,000
7
950,000
31«
2,380,000
7
13,750,000
6,570.650
l 1«
3,000,000
6 g.
1,000.000
7 g.
6,099,000
6 g2,748,000
6 g.
1,700,01(0
6 g.
4,061,000
6 g.
1,500,000
7
573,000
6
500,000
7
866,000
7
622,625
1,628,015
6
1,300,000
6
3,681,000
6
478,000
6
810,000
6 &7
943,666
2
1,500,000
6 £
5,500,000
J.
J.
A.
J.
&
&
&
&
D. Bradf’d,Pa., Co.’s Office
J. Last paid July, 18*4.
O. N. Y., Cent. Trust Co.
do
J.
June
Jan.
Oct.
July
1,
1,
l ’,
l',
1932
1932
1923
1915
M. &
J. &
J. &
J. &
J. &
S. N. Y., Corbin Bana’g Co.
J.
None ever paid.
J. N. Y. L. Erie & W. RR.
D. N. Y. L. Erie & W. RR.
D.
do
do
Mar.
Jan.
Jan.
June
Deo.
1,
1,
1,
1,"
T,
1911
1913
1896
1887
191.6
Q .-M .
J. & J.
Q.—M.
J. & J.
M. & N.
M. & S.
A. & O.
F. & A.
A. & 0.
J. & J.
F. & A.
Phila.orN.Y.,Co.’sOffice
Last paid, Julv. ’85.
Last paid, Sept., ’ 85.
!« paid in cash Jan., ’85
!« paid in cash Nov.. ’84
*2 paid in cash Mar.. ’85
!« paid in cash Apr., ’85
Aug.cou*.pd.by Ph.& E.
Last paid, Oct., ’ 85.
3 paid in cash Jan., ’85
3 paid in cash Feb., ’ 85
F. & A. N. Y., Union Trust Co.
do
do
J. & D.
do
do
Various
Gallatin Bank.
J. <fc J.
N. Y., 1st Nat. Bank.
Dec. 26,1883
July 1, 1896
Dec. 1, 1908
July 1, 1921
May, 1' 1923
Mch. 1, 1924
April l| 1921
Feb. 1, 1896
Apr. J.' 1912
July 2, 1890
Feb. i , 1896
Feb. 1, 1921
Dec. 1, 1922
1921
Various.
0)
July 1, 1908
B runsw ick Sc W estern.—From Brunswick to Albany, 171 miles,
and 83 miles projected to Columbus, Ga. This was formerly the Bruns
wick & Albany; the present company has $3,500,000 stock. Gross earn
ings in 1886, $326,216 ; net, $46,819. In 1885, gross, $283,129; net,
$20,719. E. W. Kinsley, President, N. Y. City.
Buffalo Bradford Sc Pittsburg.—Owns from Carrollton, N. Y.
to Gilesville, Pa., 26 miles. Completed in 1866, and leased to New
York Lake Erie & Western for 499 years. Rental, 7 per cent on out
standing bonds, $40,600 a year. Capital stock, $2,286,400.
BuffTalo New 1 ork Sc Erie.—Owns from Buffalo, N. Y., to Cor
ning, N. Y., 142 miles. Leased in 1863 to the New York & Erie for
400 years, and now operated by the N. Y. Lake Erie & West. Co. Rental,
$238,100—viz., 7 per cent on stock and bonds and $5,000 for organiza
tion expenses. Dividends and interest paid directly by {he lessees.
Buffalo New Y ork Sc Philadelphia.—A consolidation in
February, 1883, of the Buffalo N. Y. & Philadelphia, the Buffalo Pitts
burg & West.. Oil City & Chicago and Olean & Salamanaca. Mileage is as
follow s: Buffalo Division—Buffalo, N. Y.. to Emporium, Pa., 121 miles,
Larabees, Pa., to Clermont, Pa., 22; Pittsburg Division—Buffalo, N. Y.,
to Oil City, Pa., 13S; Titusville, Pa., to Pioneer, Pa., 9; Mayville, N. Y.,
to Chautauqua, N. Y., 3*2; Oil City to New Castle, Pa., 182; Tryonville
to Union City, 16 miles. Rochester Division—Rochester, N. Y., to Hins
dale, N. Y., 99; Olean, N. Y., to Bradford, Pa., 26; Bradford, Pa., to
Kinzua, Pa., 26; Eldred to Tarport, 18 miles; Genessee Valley Ter. RR.,
2 miles; total operated, 663 miles, of which 40 miles are leased. The
Swain’s Br„ 11 miles, owned by B. N. Y. & P., is leased to L. & P. RR.
The trust bonds of 1923 are secured by $500,000 first mort. bonds of the
Genessee Valley Terminal Co., $700,000 of the first mort. bonds of the
Olean & Salamanca RR., $1,600,000 first mort. bonds of the Oil City &
Chicago RR. and $300,000 mort. bonds of the No. West. Coal & Iron Co.
In 1884 the earnings proved insufficient to meet interest, and after
trying a plan which was not successful, a receiver was subsequently
appointed and foreclosure suits were begun.
In Feb., 1886, another plan was issued (see C h r o n i c l e , V. 42, p. 242)
by which foreclosure would be made and $10,000,000 new first mortg.
bonds issued, of which $6,073,00j would be reserved for the several
issues of old first mortgages, and the B. N. Y. & P. 2d mortg., the bal
ance for re-organization expenses and for future use. A 2d mortg. for
$20,000,000, interest payable in cash, or in cash and scrip, to be issued
for all other bonds on certain terms; and $30,000,00;» to be the author
ized issue of new common stock. The old stook to pay an assessment
of 8 per cent on the preferred and 12 per cent on the common, each
receiving the new 2d mortg. bonds for the assessment paid, and share
for share in the new stock. This plan was backed by a strong com
mittee and received the assent of a large majority of bondholders. The
Buffalo Division was sold in foreclosure Sept. 10, 1887, and the whole
K>ad Sept, 15, 1887, to Mr. Carl Schurz and others, constituting, the
ret rganization committee.
From Oct. 1.1886, to June 30,1887 (9 months), gross earnings were
$1,896.404, against $1,856,846 in 1885-86; net, $227,175, against
$373,385; deficit under charges, $145,602, against deficit of $26,093.
From Oct. 1,1886, to July 31, 1887 (10 months), gross earniDgs were
$2,147,954, against $2,102,555 in 1885-86; net, $304,8o5, against
$437,862.
The annual report for the year ending Sept. 30, ’86, was in the C h r o n
i c l e , V. 44, p. 89, and contained the following income acoount.
R eceipts1883-84.
1884-85.
1885-86.
Gross earnings.......................... $2,614,774
$2,335,514
$2,568,217
Net earnings........... ................ $526,933
$154,847
$373,007
Rentals an<finterest................
42,300
57,924
55,853
The income aocounts of the R. & P. for the years ending Sept. 30 were as
follow s:
«.
Receipts—
1884-5.
1885-6.
Gross earnings................................................. $1,216,680
$1,299,362
Net income (including miscellaneous)....... $336,707
$390,357
Disbursements—
Interest............................................................
348,272
352,106
Rental and miscellaneous............................
117,166
56,128
Total income........................ $569,233
$512,771
$428,860
Disbursem ents—
Interest on bonds, pd. & unpd. $1,275,935
$1,413,500
$1,410 380
130,751
342,783
206,2*4
Other interest, &o.....................
Total disbursements............$1,406,686
$1,7. 6,283
$1,616,614
¿Balance.......... ...........................def.837,453 def. 1,243,512 def. 1,187,754
—(V. 43, p. 48,73, 102,131,190,244, 367, 546,608,634, 635, 774; V. 44
p. 89, 184, 210, 276, 433, 551, 652, 654, 681, 781, 807; V. 45, p, 142.
-271, 272,369.)
*
'
FISCAL RESULTS.
$465,438
$408,234
Balance..................................................def. $128,731
def. $17,877
Walston H. Brown, N. Y , President.
- V . 43, p. 218, 369, 398, 579, 608, 634, 738 ; Y. 44, p. 212, 309, 392,
402, 781 ; V. 45. p. 25, 240, 373.)
Buffalo Sc Southwestern.—Owns from Buffalo to Jamestown,
N. Y., 67 miles. Formerly the Buffalo & Jamestown; reorganized
in 1877, after foreclosure. In July, 1880, leased to New York Lake
Erie & Western for 99 vears—at 35 per cent of gross earnings, but
interest on bonds guaranteed. Rental in 1885-86, $90,831. When earn
ings have been sufficient a small dividend has been paid on pref. stock.
Burlington Cedar Rapids Sc Northern.—On Jan. 1 '87, oper
ated from Burnngton, Iowa to Albert Lea, Minn, (including 11 miles
leased), 253 miles; branches—Linn, la., to Postville, la., 94 miles; Mus
catine, la , to Riverside, la., 31 miles; Vinton, la., to Holland, la., 48
miles; Iowa City to What Cheer and to Montezuma, 73 miles; Clinton
Division, 81 miles; Deoorah Division, 23 miles; Iowa Falls Division,
430 miles; Waverly division, 6 miles; total operated, 1,039 miles. The
former company was organ ized as the Burlington Cedar Rapids &
Minn., June 30, 1868. Defaulted Nov. 1,1873. Property sold under
foreclosure June 22,1876, and this company was formed by the pur
chasers. In May, 1885, a decision was obtained by the holders of old
equipment and 2d mortgage bonds of 1874, in the case of Simmons
against this company, holding those bonds to be good against the road,
and giving defendants the right to redeem the property on payment
of amount found to be due, which is about $1,00 0,000. The case is
still pending.
Bonds of the Cedar Rapids Iowa Falls & Northwestern road are en
dorsed (endorsement is on the bonds); the 6 per cent bonds are redeem
able at 105 after Oct. 1,1890. Of the 5 per cents $825,000 are reserved
to retire the 6 per cents. The company guarantees the above bonds
mentioned, and also guarantees $150,000 of Minneap. & St. Louis bonds.
In April, 1884, for the purpose of issuing additional bonds for exten
sions, the limit of authorized capital stock was raised to $30.000,000.
The consolidated bonds are dated April 1,1884, and issued at $15*000 per
mile to build new road, and secured by first mortgage bonds on the
roads built, deposited with the trustee of this mortgage. The roads
thus built to Deo. 31, lg^S* were the Cedar Rapids & Clinton, 82 miles,
$1,200,000 bonds; Chicago Decorah & Minnesota, 23 miles, $348,000
bonds; and the Cedar Rapids Iowa Falls & Northwestern, Minnesota and
Dakota Division, 3t>6 miles. $3,063,000 bonds.
The annual report for 1886 said : “ The earnings of this railway for
the current year did not equal the previous year, on account of de
creased tonnage in tin ough business, and lower rates on both through
and local business. The business ot 1887 has opened fairly for the first
three months. What the effects of the Inter-State Commerce law will
be on the earnings can only be surmised, but we should anticipate a de
crease.
From Jan. 1 to June 30 in 1887 (6 mos.), gross earnings were $1,372,471, against $1,265,633 in 1886; net, $319,702, agst $288,732 in 1886.
For 1886 the annual report in V. 44, p. 619, gave net income, &o.,
for four years as follow s:
1883,
1884.
1885.
1886.
Miles operated.........
713
990
990
1,039
Earnings—
$
$
$
$
654,746
666,922
691,174
662,485
Passenger........ .
Freight......................
2,117,949
2,024,175
2,284,542
2,141,646
Mail, express, & c ....
90,859
105,362
117,797
129,178
Tot. gross earnings 2,863,554 2,796,459 3,093,513 2,933,309
Oper exp. and taxes 1,968,177
1,917,769
2,1^9,543
2,132,404
895,377
878,690
903,970
800,906
Buffalo Rochester Sc Pittsburg R ailw ay.—(See Map.) Owns Net earnings.............
68-7
68-5
70-77
72-70
from Rochester, N. Y., to ClayviUe, Pa., 229 miles; Buffalo Branch from P.e. op. ex.toearn ’s.
Ashford to Buffalo, 48 miles; other branches, 17 miles; total, 294 miles.
INCOME ACCOUNT.
This company was formed in March., 1887. as successor of the Roch
1883.
1884.
1885.
1886.
ester & Pittsburg and the Pittsburg & State Line RR., which were fore
Receipts—
$
$
$
$
closed in Oct. 1885 and purchased by Mr. A. Iselin
Net
earnings............
895,378
878,690
903,970
800,905
That portion of the road lying in Pennsylvania was known as the Pitts. Other receipts.........
48,596
31,108
83,798
63,252
& State Line RR. Co. The consolidation of the companies in New York
Total income.........
943,974
909,798
987,768
864,157
and Pennsylvania was delayed by litigation till March, 1887.
The prtfei red stock 01 the consolidated company is $6,000,000 (en
521,232
573,663
742,275
749,898
titled to 6 per cent dividends, non-eumulative), and common stock, I n i e r e s t 'o n ’ d e b t .......
89,942
68,778
70,794
3,042
$6,000,000. A meeting held June 10 voted to raise total stock to Const’n& improvem’t
294,904
10,774
41,925
45,605
$13,00o,0< 0, and buy rut the preference of preferred stockholders Equipment................
Other expenditures..______ 44,802
28,617
25,056
8,278
with $3,000,000 of certificates of indebtedness.
Oct. 1, 1886, to July 1,1887 (9 months), gross earnings were
Tot. disbursem’ts
950,880
681,832
880,050
806,823
$1,831,142, against $917,451 in 1885-86; net, $366,333, against $207,déf.6,906 sur.227,966 sur. 107,718 sur.57,334
480; surplus over interest, taxes and rentals, $93,551, against deficit of Balance.....................
$ 124j773.
- ( Y . 43, p. 516 745 V. 44, p. 90,184 494, 6 1 9 ..)
S e p t e m b e r , 1887.]
RAILROAD
STOCKS
AND
BONDS.
« 1
22
INVESTORS’
SUPPLEMENT.
[V ol. XLV.
Subscribers w i ll confer a great fa v or by g iv in g im m ed iate notice o f)
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
Due.
For explanation of column headings, &c., see notes of
of
Par
Rate per When Where Payable, and bv pal.When
Outstanding
Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Burlingt'n O. Rap. A Northern—( Cant'd)—1st mort
369 1876 $100&c. $6,500,000
5
J. & D. N. Y., Central Trust Co. June 1. 1906
Iowa City & Western, 1st mortgage, guar.......... .
73 1879
1,000
584.000
7
M. & S.
do
do
Sept. 1, 1909
Ced. Rap. I F.& N.W., 1st M., g., guar!,red.aft.’90
55 1880
1,000
825.000
do
do
6 g- A. & O.
Oct. 1, 1920
do
1st M., gold, guar.........................
177 1881
1,000
1.905.000
A.
&
O.
5
g.
do
do
Oct.
1. 1921
Consol. 1st mort. & eollat. trust, gold, coup. & reg.
All 1884 l,000&c
4.716.000
5 g. A. & O.
do
do
April
1,1934
Cairo Vincennes <£•Chic. —1st M. bds., gold (Wabash) 266 1881
1,000
3.857.000
J.
&
J.
Last
paid,
Jan..
’84
Oct.
1, 1931
California Pacific—1st mort., gold (ext’d’a at 4-*e)
114 1867
1,000
2.250.000
4*2 gg. J. & J. N. Y., Eugene Kellv & Co Jan. 1, 1912
2d mort., end. by Cent. Pac..................................... 114 1871
1,000
1.600.000
6 g. J. * J. N.Y., 80. Pac. RR. Office Jan. 1, 1891
3d, mort. guar, by Cal. Pac. ($1,000,000 are 3 s )... 114 1875
500
3.000.
000
3 *6
J. & J.
do
do
July, 1905
Camden A A tla n ticS toek ($880,650 of it pref.)....
78
50
1,257,100 2 on pref A. & O. Camden, Co.’s Office.
Oct. 1, 1887
1st mortgage (extended 20 years in 1873)............
78 1853
1,000
490.000
J. & J. Phila., Farm. & M. B’k. March, 1893
2d mortgage, extended in 1879...............................
l
g*
1854
1,000
497.000
6
A. & O.
do
do
Oct. 1, 1904
Consol, mortgage (thirty years).............................
1881
1.000
350.000
6
J. & J.
do
do
July 1, 1911
Camden A Burlington Co.—1st mortgage................
31 1867 500&O.
350.000
6
F.
&
A.
Phila..
Penn.
RR.
Co.
Canada Southern—Stock............................................. 436
100 15.000.
000 1^
F. & A. N. Y., Grand Cen. Dep. lug. 1897
15, 1887
1st mort., interest guar, by N. Y. C. & Hud. R iv .. 404 1878
1,000 13.858,441
5
J. & J. N. Y.. Union Trust Co. Jan. 1, 1908
2d mortgage, coup, or reg........................................ 404 1883 l,000&o
5.100.000
5
M. & S.
do
do
Mar.
1, 1913
Canadian Pacific—Stock (guar. 3 p. o. div. till ’93). 4,464
....
100 65.000.
000 1*3 F. & A. N. Y. Office. 59 Wall St. Aug. 17,
1887
Canada Central RR. 1st & 2d mort. bonds...........
1,823,333
5
*
6
Various
Montreal.
1899
&
1910
Quebec Prov. due on Q. M. O. & O. and N. S. R R .. . . . .
7.000.
000 5
A. & O.
do
Land mortgage bonds, gold (redeemable at 110)..
1881 500 &c.
3.527.000
5 g. A. & O. Montreal,N. Y.orLondon Oct. 1, 1931
1st mort. debent, sterling........................................ 2,856 1885 £100<feo 34.998.633
1 g- J. & J. London, Baring B. & Co. July 1, 1915
Cape Fear A Tad-kin Valley—1st mortgage, gold___ 187 18S6 $1,000
1.500.000
6 g J. & D N.Y., Farm. L.& Tr. Co. June 1, 1916
Carolina Centrals- 1st mortgage, gold, coup, or reg. 242 1881
1,000
2 ,( 100,000
6 g. J. & J. N.Y., Farmers’L .* T.Co. dch. 31, 2000
2d mort., gold, income, reg., non cumulative........ 242 1881
1,000
1.200.000
6
g. J. & J.
New York, Office.
July 1, 1915
3d mort., gold, income, reg., non cumulative........ 158 1881
1,000
1.500.000
6 g. A. & O.
do
do
July 1, 1910
Carson A Colorado—1st mortgage.............................
158 1881
1,000
2.250.000
6
J.
&
J.
July, 1911
Second Division mort................................................ 43 lg 1883
1,000
510.000
6
J. & J.
July 1,1913
Catawissa—Common stock........................................
98
50
1,159,500
Preferred stock ($2,200,000 is old pref.)
.
98
50
3.200.000
T ' a M. & N. Philadelphia Co.’s office May 18, 1887
1st mortgage..............................................................
1882
230,500
6
.... Phila., Phila.* Read.Co. Feb. 1, 1902
Mortgage bonds..................................................... .
93 1870 500 &c.
1.300.000
7
F. & A.
do
do
Feb. 1, 1900
Cayuga A Susquehanna—StocK....................!..!!!!!."
34
100
589,110
413 J. & J. New York, 44 South st. July
1, 1887
Cairo Vincennes & C hicago.—Cairo to Tilton, 111., 258 miles;
Tbe Government also holds $1,000,000 of land bonds, which
branch, St. Franoisville to Vincennes, 8.; total, 266 miles. This was a
land8 ln Possession of the company are about
consolidation of tue Cairo & Vincennes, Danville & S. W. and St. Francis- u q w 7i » a» ed'
ville & Lawrence roads, forming the Cairo Division of the Wabash St. Jaid off a A lO
®
ar® receivable f or lands and may be
Louis & Pacific. The latter company issued its own bonds secured on
From Jan. 1 to July 31, 1887 (7 mos.), gross earn’s were $5.786 091
this road tor $3,857,000, and after default the road was surrendered
*
to the mortgage trustees, Messrs. A. J. Thomas and Charles E. Tracy, a^rÎ,^8t 65,158,690 in 1886 ; net, $1,332,523, against $1,751,837. ’
1f8?,6 was P olish ed at length in the Chronicle ,
•'
j
July. 1887, a decree was entered by consent releas VT44
b.x52’
65
5T11?
following
is
a
comparative
statement
of
earn
ing this road from liability on all Wabash claims. Receiver’s certificates ings and expenses for the last two years :
for $666,lb 7 have been issued. From Jan. 1 to July 3 1, 1887 (7 mos.),
OPERATIONS AND FISCAL RESULTS.
gross earnings were $413,725, against $351.128 in 1886; net, $117,248,
1 Q^K
against $.7,074. In the year ending April 30, 1887, gross earnings
1886.
4 338
were $710,664; net, $161,263. (V. 43, p. 479; V. 44, p. 494; V. 45, p. Miles operated.........................
4,464
Passenger m ileage....................................... 116,702,980
150,466,149
Kate per passenger per m ile .............
2'45 cts
2-10 cts.
C aliforn ia Pacific.—Owns from Vallejo, Cal., to Sacramento, Cal.,
(tons) m ileage............................... 406,822,166
555,438,159
61 miles; branches—VaU^o Junction to Vallejo, 2 miles; Adelante to Freight
per ton per mile.................. ..............
1 -20 cts
1*10
cts.
Calistoga, 35 mi.es; Davis to Knight’s Landing, 19 miles; total oper Rate
Earnings—
ated, 115 miles. Leased for 29 years, from July 1,1876, to Central Pac. Passenger..................................................... $2,859.223
$3,170,714
Rental, $600,000 per annum, and three fourths of net earnings when Freight............ .........................................
4,881,866
6,112,380
in excess of that amount. Capital stock, $12,000,000. In 1886. gross Mail, express and miscellaneous.............
627,404
798,710
earnings were $1,233,641; net, $S74,082.
Total earnings....................................... $8,368,4«3
C am den & A tla n tic .—Owns from Camden, N. J., to Atlantic
$10,0-1,804
Operating
expenses....................................
5,143,276
Gray* 60 miles; Atlantic City to Longport, 7 miles; Phil. Marl. &
6,378,317
Med. RR.; Haddonfleld to Medford, 12 miles; total operated, 79 miles. Net earnings............................................... $3,225,217
$3,703 487
Pref. stock, entitled to 7 per cent if earned, and to as high, as paid to com. Per cent of oper. expenses to earnings...
61-46
6326
if more than 7. From Jan. 1 to July 31,1887 (7 mos.), gross earnings on . •
INCOME ACCOUNT FO R 1886.
S’j V’UL“ 6 an,d Ranches were $360,289, against $312,262 in 1886; net,
$61,506, against $41,493.
’
’
mam line and branches in 1885, gross earnings were $561,347; net,
Surplus....................................... ...........................................
I6"i5 14 4
| ^ A -l4 3 . In 1886, gross, $599,090, net, $129,775; other income,
343, 433, 525, 620, 6 5 2 , 6 5 5 ; V. 45, p.' 52,
“ ,20,8m=I
$159>578; deduct interest, rentals, &c., $38,968; sur 2 3 ^ ')^ , ^
plus, $51,610. (V. 44, p. 4 9 4 .)
C a p e F e a r & Y a d k i n V a lle y .—In operation from Fayetteville, N.
Cam den Sc B u rlin g to n C ou n ty.—Owns from Camden, N. J.,
w ^ ? emr?er^?n’ ZM i» 2? miles; branch, Burlington, N. J., to Mount C., to Bennetts ville, S. C., 57 miles; Fayetteville, N. C., to Belew’s
Holly, 7 miles; total, 30 miles. Leased to Camden & Amboy Railroad Creek. N. C.. 120 m.; Factory branch, 10 in.; total, 187 miles. Road is
the Pennsylvania Railroad Company, lessees further projected some 250 miles additional, and is in course of construc
of United Railroad & Canal Company’s lines. Lease rental, $44,415. tion by the North State Improvement Co., which Co. holds $750,000
being 6 per cent on stock and bonds, and $500 for organization ex 2d mort, income bonds. The total stock is $798.925, of which $741.900
penses. Capital stock $381,925 and funded debt $350,0(h). Dividends was outstanding April 1, 1887. From Jan. 1 to July 31, in Lc87 (7
In January and July. Gross earnings in 1886, $216,055; net, $63 632.
geoss earnings were $142.897, against $119,416 in D-86; net,
C anada S ou tH eru .-L iN E op R oad—Main line from International
aga3iD?!i,?'i7èï.54. F ,r fiscal year 1886-»7 gross earnings were
Bridge to Windsor, Ont., 226 m.; branch, Amherstburg to Essex Centre, $236,Obb; net, $111,583 ; surplus over rentals and interest, $46,797.
16 miles: Fort Erie Br., 17 miles; Oil Springs Br., 3 miles; St. Thomas,
c,a r ®iin a C e n tr a l.—Owns from Wilmington, N. C., to Rntherfordton.
S3&* v°
’
63 miles; Erie & Niagara, 31; Sarnia Chatham & N-C., 2b7 miles. Formerly Wilmington Char & Rutherford, chartered in
I f Canada Southern Bridge & Ferry, 4 ; Toledo Canada Southern & 1855. Succeeded by existing company after foreclosure May 3, 1873.
Detroit, 56, and Michigan Midland & Canada, 15; total of all lines Defaulted, and receiver placed in possession April 5,1876. Sold in foreoperated, 436 miles, of which 105 miles are nominally owned by proprie olo«ure May 31, 1880, for $1,200,000. In ’85-86, gross earns $177,484:
tary companies under separate organizations.
Ji y
net, ^ 1,5^ 752: in ’86-7, grpss, $500,266; net, $183,773 surp.us over
oSalliQ ^ Southern Railway Company was chartered in Canada interest, &e , $39,190. Wilmington Bridge bonds, $255,000. at 7 per cent
Feb. 28, 1868, and the main line opened Nov. 15, 1873. Default are guaranteed by this Co. and the Wil. Col. & Aug., and interest paid!
was made, and a reorganization forming the existing company was .The stock of $1,200,000 was placed for five years from Nov. 1,1879 in
“ i 1^ 7m‘ ^ r e s t on the 1st mort. is guaranteed by the New the hands of the reorg. committee, but is now all issued to 2d mortgage
66
^Vri i u enT^a\jRallrT>QQoCo' f9r 20 years; but the principal is not guar- bondholders.
} n ?,ov" 188? ’ a °i08e contract was made with the Michigan
C a r s o n & C o lo r a d o .—(3 foot gauge.)—From Mound House Nev., to
Central for 21 years from Jan. 1,1883, providing for the oneratW,
Candelaria,
Nev.,
158
miles;
Junction
to
Keeler,
Cal.,
141
miles;
? n i t « ^ f na a 8outbern by the Michigan Central, alto for the p ® g of total 299 miles. Road follows the valleys along eastern side of Sierra
the total earnings of both roads in a common treasury, out of which is to
be Paid, first, the d era tin g expenses of both roads; second, the fixed NevM a Mountains and may eventually join Southern Pacific at Moiave.
$6,380,040 authorized; $2,760,000 issued. H. M. Yerington.
charges of both; third, the division of the remainder between the two Stock,
Pres’t, Carson, Nev.
°
’
C a ta w is s a .—Owns from Tamanend, Pa., to Williamsport, Pa., 94
miles; branch, Summit Station to Silver Brook, 4 miles ; total operated
98 miles. Leased from Nov. 1,1872, for 999 years to Philadelphia *
8 & F W 3 S !* .
S r Reading. Rental, 30 per cent of gross earnings and $8,00o a year for
» / ' !a+n a *Mim -tTi *a c lflc *—( See Map-)—The whole road extends from company expenses. Funded debt is also assumed by lessees. Seven per
Montreal to Vancouver on the Pacific coast in British Columbi“
2,906 miles. There are branches and auxiliary lines owned of 925 oent is guaranteed on the preferred stocks. (Y 43, p. 387.)
^■1
to
miles, and 821 miles of leased lines, makiDg the whole system 4 651
lperpetuity to Delà. Lack. & West.
miles, of which 187 miles were not quite flniSied on Jan 1??887 fle e
- - - v - J — .........—-ids on oapital, 9 per cent per annul
C e d a r F a lls & M in n e s o t a .—Owns from Waterloo, la., to Minn
« £ f im oi0 j S r i 08L86VP- 6580 Tl16 IOad ™ “ i’“ 04 S i g f f i
In Nov., 1883,’ leases were made of the O ntario* Quebec system in State Line, 76 miles. Leased to Dubuque & Sioux City for 40 vears
cluding the Credit Valley Railway and Toronto G re A n d Brace about from January 1, 1867, at $1,500 per mile as a minimum and a con
590 miles in all, with bridge facilities at Montreal. 7
Uce> ab °ut tingent of 35 per cent of gross earnings from $3,500 to $7,500 per mile
of 30 per cent oi any excess over $7,500 per mile. The Dub & S C
This company was incorporated February 18, 1881. under a charter and
&om the Dominion of Canada. The company had an important con (carrying this road) was acquired by 111. Central in 1887. Capital stock’
$1,586,500.
Operations are included in Illinois Central reports Thé
tract in its charter, receiving from the Government $25,0007000 in cash minimum rental
is $113,370 per annum. J. S. Kennedy, President N Y
as a subsidy, also 25,000.000 acres of land, all to be fit for se ttl^ e n t
C
e
n
tra
l
B
r a n c h U n io n P a c if ic .—(See Map Mo. Pac.)—Owns from
al8o10onveyed t° the company, free of all cost, 713 miles of Atchison, Kan.,
to Waterville, Kan., 100 miles; leased Atchison Col &
road. The co. also acquired 449 miles of road and branches from Montreal
west to Callendar, subject to $5,423,333 in liens on those roads
X 1 Pac. 254 mfies ; Atch. J. Co. & W., 34 miles; total operated, 388 miles,
lh e Un. Pac. Cent. Branch was formerly the Atchison & Pike’s Peak RR..
j9v ;!i 18§3’
Dominion Government gave a guarantee of 3 ner and was 0116 of tb.6 roads ©mbr&côd in tlio act of Con^ross inoorporatinsr
emit dividends per annum for ten years on $65,000,000 of stock
® U ?na^ agreements with the Dominion Government, in April 1886 a the Union Pacific RR. The stock is $1,000,000, o f which the Union
Tbe company received a Government subsidy
settlement was made discharging all the company’s obligations The
Canadian Pacific Railway Co., through Baring Bros, of London »nis of $1,600,000. Default on interest was made May 1,1873, but no fore
closure
took
place.
It
is
operated as a part of the Missouri Pacifia
$20,000,000 pf bonds, the prooeeds o f which were applied to paying°off system under a 25 years lease,
made Sept., 1885, by which the net earn
a part of the indebtedness of the company to the Government while the ings are paid to Union Pacific as
rental. In 1886 gross earnings were
balance of $9,000,00u was liquidated b
y
'
S
e
s
of
$1,705,763;
net
income,
$748,357;
charges, $471,355; dividends.
land belonging to the original grant of 25,000,000.
’
$100,000;
surplus,
$177,002.
For
1885 gross earnings were $1,855.Of the land grant bonds there are outstanding only the above amount 840; net, $591,000; total fixed charges,
surplus, $98,333. In
agamst which are deferred payments on lands sold, amounting to $1,- October, 1885,5 per cent dividend paid.$513,136;
In 1886 paid 10 per cent.
BONDS
STOCKS AND
RAILROAD
INVESTORS’
SUPPLEMENT.
[V ol. x l v .
S e p t e m b e r , 1887. J
RAILROAD
STOCKS
AND
BONDS
2 5
Subscribers w ill confer a great favor by g iv in g im m ediate notice oi any error discovered in tbese T a bles.
IBonds—Prmoi INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date Size, or ! Amount
When
Where
payable,
and
by
Slocks—Last
of
par
of
For explanation of column headings, &c., see notes
Outstanding Cent. Payable
Whom.
Dividend.
Road. Bonds Value.
on first page of tables.
J.
&
J.
N.
Y.,
J.
Ken.
Tod
&
Co.
Jan.
2, 1967
7
61 1866 $500&c. $1,377,000
Cedar Falls <&Minn.—Bonds on 2d div., sink. f’d . . .
M. & N. N. Y., 195 Broadway. May 1, 1895
6
1,600,000
1,000
Central Branch (Jnion Pacific—1st mort., g o ld ---- 100 1866
M.
&
N.
do
do
May 1, 1895
630,000
7 g.
1,000
1879
Funded interest bonds (coupons held m trust). ..
6
U.S. Treas., at maturity. 1896, ’97, ’98
1,600,000
2d mort. (Government subsidy).................. .......... 100 ’66-7-8 1.000
Savannah, Ga.
J. &" d .
4
June 22, 1887
7,500,000
100
Central It- R- <£ Bank, Oa.—Stock............. — . . . . . 730
J. & J. N.Y.Nat.City Bk.,&Sav. Jan. 1, 1893
7
5,000,000
620 1872
1,000
General mort. “ tripartite” bonds, coup.................
New York.
May 1,1937
5,000,000
5 g. M. &N.
1887
1,000
Collateral trust bonds, gold.......- .............................
Savannah, Ga.
J.
& J.
6
1891
4.600.000
100
1881
Certificates of debt (for dividend)..........................
New York.
J. & J.
Jan.
1, 1892
6
987,000
Ocean 88. Co., guar.. 1st m ortgage........................
Last
paid
July,
1886.
J.
&
J.
July
15,1899
7
3,700,000
Central Iowa—1st mortgage...........- ........................... 189 1879 500&O.
A. & O, No interest ever paid. 3 mos. notice.
7
629,000
1880 500 &c.
Debt certificates, issued for overdue coupons—
619,000
6 g. A. & O. Last paid April, 1884 April 1, 1912
124 1882
1,000
1st mortgage, gold, Eastern Division — ............
& O. Last paid April, 1884
1924
6
612,000
1,01)0
89 1882
n r Division, 1st mortgage ($16,000 p. m .)..........
A. & O Last paid April, 1884
1912
6
127,000
1,000
97 1882
1st mort. on branches ($12,600 per mile)............
’
u
coups,
pd.
to
June,’88
J.
&
D
June
1,1924
4,430,000
1884
1,000
6
g499
Consolidated mort., gold (for $6,748,000)...........
6
508,000
Car trust certificates............................- - - ......... 7,245,988
44
Central Massachusetts—Stock ($3,852,088 is pref.)
A. & O.
Oct. 1,1966
'*5*
44 1886
(?)
Mortgage bonds (for $2,000,600) coup ..............
l 1«
100 18,563,200
648
Central o f New Jersey—Stock............. . . . . . . . . . . . . .
New
York,
Agency.
J.
&
‘j
.
July
1, 1987
5 g.
1887 500&O. 20,352,200
General mortgage, gold, coup. (& reg. Q. - J .)...
F. & A. New York, at Office.
Feb. 1,1890
7
5,000,000
1,000
74 1869
1st mortgage bonds......................- - - - ■- .............. .
Last
paid
May,
1886
M.
&
N.
Nov. 1, 1902
7
1,643,000
1872
1,000
Last paid April, 1886 July 1. 189*
Q .-J .
7
5,243,000
1,000
97 1874
Consolidated mortgage (for $25,000,000).
J. & J. Last paid July, 1886 July 1, 1921
5
5,000,000
1881
1,000
Am. Dock & Imo.Co. new M. bds., guar. C.
M. & N. Last paid Nov., 1884 M a y l, 1908
6
896,000
1,000
1883
Debenture bds., conv. into stock till 1907.
J. & J. Balt., at B. & O. office, July 30,1887
3
2,704,250
50
137
Ventral Ohio-S to ck ($391,700 of this is pr<
do
do
M. & S.
Sept., 1890
6
1,842,000
1,000
137
1st mortgage bonds..........
- - - - •—
do
do
Sepr. 1,1930
1,000,000
4 1« g. M. & S.
1,000
137 1886
N.
Y.
&
San
Francisco
Feb.
1,1884
F.
&
A.
3
68,000,000
100
1,687
Central Pacific—Stock...............— ■•■■■■- - - a......../ :
N. Y., So. Pao. RR.
1895 t o ’98
6 g. J. & J.
742 1865-8 1,000 25,883,000
1st mort., gold, (2 sinking funds, $50,000 each)
do
do
July
1, 1888
J.
&
J.
284,000
1864
1,000
50
Califor. State aid, gold (s. fund, $50,000) extend
I6 gdo
do
Oct. 1, 1900
6,080,000
g. A. & O.
1,000
146 1870
1stm.S. Joaq’n Val. Br., gld (s.f. $50,000)...
U.
S.
Treasury.
1895
to '98
if.
&
J.
6
25,883,000
....
742
—
D. S. Loan, (2d lien on certain terms)..........
C e n t r a l o f G e o r g ia (ac u a n K ) . - ( o e e m u v i—om m unu,
Atlanta, Ga., 295 miles; branch, Gordon to Milledgeville, 17 miles;
leased-Augusta & Savannah, 53 miles; Eatonton Brancn Railroad,
22 miles; Southwestern Railroad and branches, 320 miles; total opera
ted 706 miles; also takes net results of 440 miles more operated by
separate companies. In 1886 leased the Mobile & Girard RR., 84 miles,
from June 1. In 1881 the lease of the Georgia RR. for 99 years
was taken in the interest of this company and the Louisville & Nashville,
which operate it on joint account. The company owns also a large inter
est in 840 miles of connecting lines and the Ocean Steamship Co. of
Savannah. This company and the Georgia RR. Co. are joint owners of
the Western RK. of Alabama, 138 miles, purchased at foreclosure sale
in April, 1875. Total mileage of system, 2,377. The “ tri-partite
bonds were issued jointly by this company, the Macon & Western and
the Southwestern. The collateral trust bonds were issued in 1887.
See V 45, P. 242, abstract of deed and securities deposited.
From Sept. 1 , 18a6 to July 31,1887 (11 mos.), gross earnings were
$5,872,28lT against $5,765,861 in 1885-6; net, $2,182,694, against
ifil 981 765*
^ The n-Tmiial report for the year ending August 31,1886, was in the
C h r o n i c l e , V. 43, p. 633.
The income account was as follow s:
1885-86.
1884-85.
1882-83.
1883-84.
Gross income.............$4,977,867 $4,659,082 $3,911,407 $3,916,991
1,922.057
2,211,615
2,851.455
Expenses___. . . . . . . . 2,956,115
Net in c o m e ....... $2,u27,692 $1,80',627 $1,699,792 $1,994,934
1,848,491
1.776.369
1,913,842
Int., rentals and div,. *1,982,517
$45,175 Def.$4u,864 Def.$76,577 Sur. 81,092
Surplus................. .7^
* Dividend in 1882-83, 8 per cent; in 1883-84, 6; in 1884-5, 5 p. o.; in
L8(v!''43Íp.°667, 622, 6 3 3 ; V. 44, p. 59,184, 653, 681; V. 45, p. 84,166,
^ C en tra l I o w a .—Owns from Albia, la., to Northwood, la., 189
miles; Oskaloosa to I )wa Junction, 184 miles; Grinnell & Montezuma
Branch, 14 miles; Story City Branch, 35 miles; Newberg Branch, 27
m iles; Belmond Branch, 22 miles; Newton Branch, 28 m iles; leased,
Manly Junction to Lyle, 20 miles, and tracks at Mississippi River, 3
miles • trackage, Iowa Junction, 111., to Peoria, 111., 3 m iles; leases to
B. C. R. & N. RR. Co., Manly Junction to Northwood, 12 miles; total
operated, 513 miles. Bridge over Mississippi River at Keithsburg
opened Dec., 1885. Chartered as Central RR. of Iowa and opened in
1871. Defaulted and placed in hands of a receiver in 1874. Reorgan
ized under present title June 18, 1879, after foreclosure sale under first
mortgage July 18,1877.
The stock is $8,076,600 common; 1st preferred, $871,500, and 2d pre
ferred, $1,078,300. First pref. has prior right to 7 per cent (non-cum.);
then 2d pref. entitled to 7 per cent.
In Oct., 1884, default was made in payment of interest. In October,
1885, a plan was brought forward, but never carried out, and in May,
1887, another plan was made. See V. 44, p. 653. Foreclosuie sale was
made on sept. 17,1887, and the Eastern Division and branches were
«o ld to Jas. Thompson of New York tor the Reorganization Committee.
Mr. A. B. Stickney is the Pres’t, and his report giving the result of his
Investigation into the company’s affairs was in V. 43, p. 634.
In Dec., 18tí6, Mr. Ethelbert L. Dudley was appointed receiver. A suit
is pending by the Central Trust Company, Trustee, to foreclose the con
solidated mortgage.
The fiscal year ends Dec. 31. The income account was as follow s:
INCOME ACCOUNT.
Gross e a rn in g s..... . . . . . . .
Net earnings.......................
Int. on bonds, oar trusts,&c
1884.
$1,448,259
$409,800
466,998
1885.
$1,307.371
$323.894
563,687
1886.
$1,305,931
$153,503
630,000
Balance............................... Def. $57,198 Def. $239,792 Def. $477,U00
_(V. 43, p, ¿ 1 6 , 458, 634,671; V. 44, p. 117,211, 551, 633, 712 ; V. 45,
¡p, 142, 239, 3 0 3 . 304, 373.)
, i, „
Central o f M assach u setts.—This company was organized Nov.
1 0 *1883, by the bondholders who purchased the Massachusetts Central
at foreclosure sale Sept. 1,1883. Road completed from Cambridge to
Jefferson, Mass., 44 miles. In Sept., 1886, a lease was made to the
Boston & Lowell for the term of 99 years on the basis of a rental of 20
per cent of gross earnings up to $1,000,000, and 25 per cent on earnings
above that amount, but with a guarantee of sufficient cental to pay in
terest.—(V. 43, p. 274, 367, 508, 579.)
C entral o f N ew Jersey.—(See Map)—Owns 269 miles, leases 264
miles and operates 116 m iles; total, 648 miles, not including the
“ Switch-back,” 18 miles. The principal leased lines in Pennsylvania
are the Lehigh & Susquehanna and the Lehigh & Lackawanna, with
their branches, &c. Under the lease of 1883 to Philadelphia & Reading
the minimum rental of Lehigh & Susquehanna wa« made $1,414,400
and ™g.Yimnm $1,728,700 till 1888; then $1,885,800 till 1893, and
after that $2,043,000. In Feb., 1877, the property was placed in the
hands of a receiver. A majority of the Lehigh & Wilkesbarre Coal
Company’s stock is held by Central of New Jersey, and of the
$11 500,000 Lehigh & Wilkesbarre Coal bonds, $6,116,000 are held
by Central o f New Jersey and receive interest after all other bonds
»re satisfied. The entire capital of the American Dock & Improvement
Oompanv is owned by the railroad company, and the right exists to
purchase the bonds by lot at 110. On Feb. 1, 1885, default was made in
payment of mortgage coupons, the P. & R. Co., lessee, having defaulted
in payment of the rental.
On June 1, 1883, the road was leased for 99 years to the Phila. &
Reading RR. Co. at 6 per cent on stock and interest on bonds, but a
decision was rendered in Feb., 1886, holding this lease void and on Oct.
15, 1886, Messrs. J. 8. Kennedy and Joseph a. Harris were appointed re
ceivers, and resumed possession Jan. 1, 1887.
In June, 1887, a plan for Complete readjustment of the debt was pro
posed, under which a new gold mortgage for an authorized amount of
$50,000,000 is issued, bearing not over 5 per cent interest, into which
all obligations for debt or guarantees will be funded as rapidly as possi
ble. Tne full statement of the company’s proposal to each class of
debt, with status, <fec., was given in V. 44, p. 714, 716.
In the years ending Nov. 30,1884,1885 and 1886, theP. &R. Co.,lessee,
reported gross receipts, net, fixed charges, including 6 per cent guaran
teed dividend, on this road as follow s:
1883-4.
1884-5.
1885-86.
Gross earnings................ $10,441,095
$10,300,466
$10,690,719
E x p e n s e s ......................
5,995,114
5,699,200
6,000,013
$4,445,980
Net earnings........ .
T
CFixed charges .. . $4,806,420
k®68 J Divi’ds (if paid)..
1,113,792
$4,601,266
$4,825,851
1,113,792
$4,690,706
$4,847,000
1,113/792
m
$5^920,212
$5,939,643
$5,960,792
Deficit for the y e a r ......
$1.474,231
$1,338,377
$1,270,086
—(Y. 44, p. 21, 275, 362,466, 525, 544, 620, 712, 714, 716, 781, 808 ; V.
45, p. 25, 112. 113, 135, 166, 271, 304.)
C e n tr a l Ohlo.-TDwns from Bellaire, Ohio, to Columbus, Ohio
137 miles. Chartered in 1847 and opened in 1854. Reorganized in
1865. Leased to the Baltimore & Ohio, for 20 years, Nov. 11, 1866;
rental, 35 per cent of gross earnings. Feb. 23, 1880, the lease was
extended to Dec. 1, 1926, with the option of renewing for terms of 20
years perpetually. The consol, mortgage is for $2,850,000 at 4*2 per
cent, running till 1930; the B. & 0 . Company received $1,000,010 of
these bond for improvements on the Cent. Ohio. In 1884-85 gross earn
ings $1,060,166; net, $295,856; rental, $371,058; lossfor year, $75,202.
Tn 1885-86 gross earnings, $1,270.476; net, $478,523 ; surplus over
rental, $33,857. The road between Newark & Columbus (33 miles) is
owned iointly with the Pittsb. Cin. & St. Louis RR. Co. (V. 43, p. 102.)
C e n tr a l P a c if ic .—(See Map o f Southern Pacific.)—L ine of R o ad —
—Main line—San Francisco, Cal., to Ogden, Utah, 883 miles, and
branches, 408 miles, and auxiliary lines, 395; total, 1,291 miles; operunder lease or contract; Cal. Pac., 115, North. R’y, 154: total length of
road operated and accounted for Jan. 1, 1887,1,687 miles. In connec
tion with the Union Pacific, the Central Pacific forms a continuous
line from San Francisco, Cal., to Council Bluffs, la. (1,918 miles), which
was opened May 10,1869. The Cal. & Oregon line is being extended
northward to a junction with Oregon & Cal. at the State line.
In March, 1885, the Central Pacific lines were leased to the Southern
Pacific Company, and the previous lease of the Southern Pacific Railroad
to Cent. Pacific was relinguished to the same company. The Cent Pacific
receives all its net surplus income above annual charges of every sort and
betterment«, and a minimum rental of $l,2u0,000 and a maximum of
$3,600,000 (payable annually on May 1), is provided for by the lease,
but this rental is first applicable to the payment of Central Pacific
floating debt, if any. and no dividends have since been paid on Central
Pacific stock. Tne total floating debt Dec. 31,1886, was about $3,250,0i>0. (See abstract of lease, V. 40, p. 480.)
T he Ch a r t e r , L eases , &c .—The C. P. was a consolidation (Aug. 22,
1870) of the Central Pacific (organized Oct. 8, 1864), California &
Oregon, San Francisco & Oakland, San Francisco & Alameda and San
Joaquin Valley railroads. The act of Congress of July 1, 1862, wanted
U. S. bond subsidies and lands to the Pacific railroads; the act of Julv,
1864, made the lien of the government subject to that of the first mort
gage bonds, but authorized the Government to withhold one-haif the
charges for transportation on its account, and also to receive 5 per pent
of the net earnings; the “ Thurman” act of May 8,1878, directed that
the other one-half of charges for Government transportation should be
withheld, and also that the company should pay $1,200,000 yearly to
the Government for the sinking fund of its debt or as much thereoi as
shall make the 5 per oeift of net earnings, plus the whole transportation
account, equal 25 per cent of the whole net earnings for the year. The
leases are numerous and mostly for short dates, and the terms of each
in brief were stated in the Ch ronicle , V. 37, p. 47.
A consolidation with Oregon & Cal. RR. by an exchange of stock has
been made. (See O. & C. m this Supplement.)
Stock and B onds —The following dividends on Central Pacific stock
were paid, viz.: In 1877, 8 per cent; 1880, 6 per ce n t; 1881, 6 ; 1882, 6 ;
1883. 6 ; and in 1884, 3 per cent. Prices of stocksinoe 1879 have been:
In 1880,QS'ctSl'a; in 1881. 80*a®10278 ; in 1882,8230397^; in l8 8 3 ;
61^88; in 1884, 30@ 67% ; in i885, 26*2^49; in 1886,38®51; in 1887,
to S spt. 16, 33 »4338. Most of the issues of bonds have sinking funds,
as seen in the table above, but these sinking funds are invested mainly
in the bonds of other Huntingtou lines and accumulate; the bonds
arc not called in. Tlie siliking funds amounted Jan. 1,1887, to $9*543,0-2. TUe land grant bonds are retired with proceeds of land sales. In
Oct., 18 6, the land grant and mortgage 50-year bonds w-re created
for an authorized amount of, $16,0u0,000, to take up the $>, 00,000
of 2d M. land bonds and for other purposes. (See V. 45, p. 179. 241.) j y
26
INVESTORS’
SUPPLEMENT.
[V ol . XLY.
S e p te m b e r , 1887.]
RAILROAD
STOCKS AND
BONDS,
27
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In tbese Tables.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Due
Amount Rate per When Where Payable, and by pal,When
Par Outstanding
For explanation of column headings, &c., see notes of
ofStocks—Last
Cent. Payable
Whom.
Road. Bonds Value.
on first page of tables.
Dividend.
Central Pacific—(Continued)—
West. Pac., 1st m., gold, (incl. $111,000 reserved)
West. Pac., Government lien...................................
Cal. <&Oregon, 1st M., gold, guar., (8. f. $100,000)
Cal. & Oregon Cent. Pac., mortgage.......................
San Fran. O. & A., 1st M. (s. f. $100,000).............
1st mort. & land grant, fifty-year, gold, bonds, s.f.
Income bds. ($6,000,000), skg.fd.,10 p.c.per ann’m
Ohar. Oinn. <£ Chicago—1st MI, g ., ($25,000 p. m .).
Charleston & Savannah—Gen. M.., $1,500,000,gold.
Charlotte Columbia <6 Augusta—1st mort. consol...
2d Mortgage...............................................................
Columbia & Augusta 1st m ortgage........................
Consol. mortg., gold (for $3,000,000).....................
Chartiers—1st mortgage..............................................
Chesapeake <t>Nashville —1st m ortgage....................
Chesapeake <&Ohio—Purch. money funding bonds...
1st mortgage, gold, series “ A” .................................
do
do
do ext’d at 4 per c t ..........
do
funding scrip....... ..........................
2d mortgage, cur. (interest m stock or cash)........
1st mortgage, gold, of 1911, Peninsula Extension
1st mort., gold, of 1922 on exten. (for $3,000,000)
Equipment trust bonds............................................
Ches. Ohio dhSouthwest—1st M., gold ($19,000 p. m )
2d mortgage ($11,000 per m ile).............................
Paducah & Elizabetht’n, 1st M. ($300,000 are 8s)
Equipment trust bonds for $2,000,000..................
Cheshire—Stock, preferred.........................................
Bonds, not mortgage............................................ .
Chicago <6 Alton—Common stock...............................
Preferred st’ck (7 p. c. y ’rly not cumulative) . . . .
158
123
152
144
20
423
115
191
191
....
....
23
35
428
503
428
423
428
75
....
353
351
186
*64
850
850
1869 $1,000 $2,735,000
1869
1,970,000
6,000,000
1868
1,000
1872
5,800,000
1,000
1870
687,000
1,000
1870
4,070.000
1,000
1886
1,000 12,200.000
1878
3.285,000
1,000
1887
1,000
(?)
1*86
1,000
1,081.000
1869 500 &c.
2,000,000
1872
500,000
1,000
1865
189,500
1883
Nil.
1,000
1871
500,000
1,000
1S87
1,000
875,000
1878
2,279,000
1,000
1878
2,000,000
1,000
8,330,000
1878 100 &c.
1878 100 &c.
5,670,000
975,000
1878 100 Ae. 10.106,189
1881
2.000,000
1,000
1882
1,000
142,000
Var.
1,000
1,209.000
1881
1,000
6,070,000
1881
1,000
2,768,230
1877
1,000
500.000
1882
1,000
666,000
100
2,100,000
’76-’78 500 &o.
800,000
....
100 14,110,800
—
100
3,479,500
T he L and Grant.—The total land granted the Central Pacific and the
California & Oregon companies was about 12,000,000 acres, of which
about 2.240,OuO acres had been sold to Deo, 31, i836. In 1886, 284,623 acres were sold for $292,624 and $367,614 cash was received by
the Land Department. Land contracts on hand Jan. 1,1887, $1,124,128.
Operations, F inances, &c.—The Central Pacific Railroad had a strict
monopoly of business in the territory occupied by it, and for many years
was able to control the traffic. The C. P. stock after paying dividends
for a few years ceased to pay after February, 1884. Tn 1885 the road
was leaser, as above, to the 8o. Pacific at a net rental guaranteed of
$1,200,000 per year, subject to the debts due the lessee company.
No dividends have yet been paid since the lease, and in the balance
sheet of the Southern Pacific Co. Dec. 31, 1886, the debt yet due from
Central Pacific was placed at $2,147,034. TheCeitral Pacific balance
sheet of that date gave the following iie ns of floating debt, viz : South.
Pacific Co., $822,035; trustees of la n i grant mortgage. $1,413,361;
sinking fund suspense, $986,995.
From Jan. 1 to June 3 >in 1887 (6 months), gross earnings on 1,408
miles were $5,887,390, against $5,393,372 on 1,309 miles in 1886; net,
$2,643,930,against $2,811,218 in 1836; deficit under interest, rentals.
&c.. $213,Oio in 1887.
The annual report for 1886 showed gross earnings $14,384,420; net,
$8,077,821; charges, $6,789,542; surplus, $1,324,998.
- ( V . 43, p. 73, 217, 244, 745; Y. 44, p. 59, 118, 148, 400, 459, 553, 781,
782; V, 45. p. 52, 142, 166, 178, 179, 241, 340.)
C h arleston C in cin n ati Sc C h icago.—This road as projected is
being built by the Mass. & Southern Construction Co. from Charleston,
S. C., through the States of South Carolina, North Carolina, Tennessee,
Virginia ana Kentucky, tojAshland, on the Ohio River; 45 miles be
tween Rutherfordton, N. C., and Black Station, S. C., on the R. & D.
Air Line, were completed and put in operation on April 18,1887, and
105 miles between Black’s Station, S. C., and Camdtn, S. C., are now
under construction, to be completed by Jan. 1,1888. On Aug. 2, 1887,
the company voted to take up and cancel the bonds issued under a
mortgage dated Oct. 1,1886, and to issue the above bonds, covering
the whole line of road from Charleston to the Ohio River. The coun
ties, towns and townships through which the road runs have already
voted aid to the amount of about $1,500,090, payable in their 6 and
7 per cent bonds, in exchange for an equal amount of stock. These sub
scriptions are payable as the road is completed. General offices of the
companjr, 45 Broadway, New York.
C h a r le s t o n Sc S a v a n n a h .—Owns from Savannah, Ga., to Charles
ton Junction, S. C., 104 miles; operates—Ashley River branches, 4 miles;
Charleston Junction to Charleston, 7 miles; total, 115 miles. This was
first the Chari. & Sav. R R .; reorganized in 1866 under name of Savan
nah <& Charleston, and1opened March, 1870. Sold in foreclosure June
7,1880, and present company organized. Stock, $500,000. In addi
tion to the gen. mort. bonds, there are $1,000,000 1st pref. income 7s
and $1,000,000 2d pref. income 7s. Earnings, gross in 1885, $453,799;
net, $85,216. In L886, gross, $482,895; net, $.2,418. H. B. Plant
President, New York.
C harlotte C olu m b ia Sc A u g u s ta .— Owns from Charlotte,
N. C., to Augusta, Ga., 191 miles. Leases Atl. Tenn. & O. RR.,
Charlotte to Statesville, 44 miles ; Cheraw & Chester, 29 miles;
and Chester & Lenoir, 109 miles. The Charlotte Col. & Aug. was a consoli
dation (July 9,1869) of the Charlotte & South Carolina and the Columbia
& Augusta. The road has been under the control and management of
the Richmond & Danville since 1878, and in May, 1836, was leased to
said company. None of the new consol, bonds had been issued to Sept.
1886. Gross earnings in 1885-86, $785,759; net, $257,767; deficit after
all interest and rentals, $1,551. In 1884-85, gross earnings, $826,967;
net, $364,010; surplus over all charges, $99,385. Stock, $2,578,000.
—(V. 43, p. 718.)
C hartiers,—Owns from Mansfield, Pa., to Washington, Pa., 23 m.
Sold under foreclosure, and reorganized in 1867. Leased for 99 years
from January 1, 1872, to the Pittsburg Cincinnati & St. Louis; the
rental is net earnings. Gross earnings in 1886, $2 1.7,044; net earnings,
$121,978; in 1885, gross earnings, $137,234: net, *45,556. Capital
stock, $647,850. First dividend, 2 *3 per cent, was paid Maroh 1,1887.
Chesapeake Sc N ash v ille.—Road owned from Gallatin to Scottsville, Tenn., 36 miles, and branch, Gallatin to Hartsville, 12 miles. For
the construction of the Northern Division, from Scottsville to a point
near Danville, Ky., about 109 miles, blocks of $10,000 were offered to
stockholders Feb. 10,1887, by a circular of Eugene Zimmermann, the
President.
Chesapeake Sc O h io.—(See Map o f Newport News & Mississippi
Valley.)—Owns from Newport News, Va., to Big Sandy River,’W. Va., 502
miles; Newport News to Phoebus, 8 m.; total owned, 511 m.; operates
only 502 m. Consolidation of Virginia Central and Covington & Ohio,
ana opened through March 1,1873. The present company was organ
ized in July, 1878, as successor of the Chesapeake & Ohio, which was
sold under foreclosure April 2,1878. The Elizabethtown Lexington &
Big Sandy Railroad connects on the west with the C. & O., and extends
to Lexington, Ky.
In June, 1886, this road was leased to the Newport News <fe Miss. Val
ley RR. Co. for 250 years, the lease being an operating agreement with
out obligation on the lessee to pay interest if earnings are deficient.
The stocks including scrip outstanding were as follows Sept. 30,
6 g.
6
6 g.
6 g.
8
6 g.
6 g.
8 g.
5 g7 g.
7
7
7
6 g.
7
5 g.
6 g.
6 g.
6 g.
4= g"6*
6 g6 g.
6
5-6 g.
6
6 &8
6
3
6
2
2
J. & J.
....
J. & J.
J. & J.
J. & J.
A. & O.
A. & O.
M. & N.
Q -J .
J. & J.
J. & J.
A. <& O.
J. & J.
J, & J.
A. & O.
F. & A.
J. & J.
A. & O.
M. & N.
M. & N.
N.Y., So Pac.Co., Office.
U. S. Treasury.
N.Y., 8o.Pac.Co., Office.
New York & London.
N.Y., So.Pac.Co., Office.
N. Y. & San Francisco.
N. Y. and San Fran.
Boat. Safe D. & T. Co.
Charleston & New York.
N. Y., First National Bk.
do
do
do
do
New York Agency.
Philadelphia, Penn R.R.
New York Office.
N. Y. Office,Mills B ’lding
do
do
2q May coup. pd. in scrip
N.Y., Company’s Office.
July 1, 1899
1899
Jan. 1, 1888
Jan. 1, 1892
July 1, 1890
Oct. 1, 1890
Oct. 1, 1936
May,’84 t o ’88
July 1, 1947
Jan. 1. 1936
Jan. 1, 1895
Jan. 1, 1910
Jan. 1, 1890
July 1, 1933
Oct. 1, 1901
Aug. 15. 1937
July 1, 1898
July 1, 1908
July 1, 1908
J ily 1, 1986
J. & J. N. Y. Company’s Office. July 1, 1918
A. & O.
do
do
Jan. 1, 1911
J. & D.
do
do
June 1, 1922
do
do
Various
Various.
F. & A. N. Y., 52 Exch’ ge Place. Feb. 1, 1911
do
do
F. & A.
Feb. 1, 1911
F. & A.
do
do
Feb. 1, 1907
Yearly to 1892
J. & J.
do
do
Keene, N. H.. Office.
July 1, 1887
J. & J
Boston, Office.
J. & J ‘
July 1,’96&’98
Q .-M .' N. Y., John Paton & Co. Sept 1, 1887
Q .-M .
do
do
June 1, 1887
1887: Common, $15,906,138; preferred stock—first, $3,447,800; second.
$11,594,000. The second mortgage currency bonds till July, 1884, took
interest in 2d pref. stock, then for two years take partly in tnat stock and
partly cash, and afterwards all cash, if the earnings are sufficient, but
“ all interest not paid in cash to be paid in 2d pref. stock.” The holders
of first mortgage “ B ” bonds cannot foreclose till six successive coupons
are in default. The mortgage bonds of 1882 for $3,000,000 are secured
on road from Newport News to old Point Comfort, Va., and terminal
works ; and on a branch to be built in West Va. from Scary Creek to the
Ohio River.' (See an abstract of the terms of mortgages iu V. 45, p. 54.)
First preferred stock has prior right to 7 per cent from surplus; then 2d
pref. to receive 6 per cent. The Ches. & Ohio guarantees $700,000 bonds
for a grain elevator, but in case of paying them will take the elevator.
In May, ’ 85, the company paid in cash one-half of the coupon falling
due and the same in Nov.. ’85 and ’ 36, but paid only one-third in cash in
May, 1886, and again in May, 1837—the balanoe of each coupon was
paid in scrip.
In August, 1886. Mr. IJuntington issued a circular proposing that the
“ B ” bonds should have interest reduced to 4 per cent and the principal
extended to 1936, the holders receiving a bonus of 25 per cent in New
port News & Miss. Valley Co’s stock; the holders of currency bonds to
surrender their bonds in exchange for 125 per cent in said stock. (See
V. 43, p. 152 and 514.)
From Jan. I to July 31,1887 (7 months), gross earnings were $2,449,
192, against $2,225,327 in 1-86; net, $728,690, against $638,790,
The annual report for 1836 was in the C h r o n i c l e , V. 44, p. 465.
Earnings and expenses have been as follows since 1884:
Years.
Gross Earnings. Op’g Expenses. Net Earn’gs.
................
$3,538,604
$2,499,744
$1,038,860
1884
2,465.812
895,423
1885 ....................................... 3,361,235
1886 ........................................ 4,096,048
2,977,208
1,118,840
-(V . 43, p. 22, 152, 514, 671,746; V. 44, p. 90, 91, 344, 4 6 5 , 551,781,
808; V. 45, p.’ 5 4 ,142.)
Chesapeake O klo Sc S o u th w estern .—(See Map o f Newport News
<&Mississippi Valley.- Owns from Elizabethtown, Ky., via. Paducah, to
Memphis, Tenn., 352 miles; leased, Cecilian branch of Louisville &
Nashville, 47 miles. Total operated, 398 mileg. This road forms the
western connection of the Chesapeake & Ohio and the Lexington & Big
Sandy. In Feb., 1886, leased to the Newport News & Mississippi Valley
Company for fifty years. The company purchased the Memphis Paducah
& Northern—Paducah to Memphis—and the Paducah & Elizabethtown,
subject to the $500,000 mortgage on the latter, and leased in perpetuity
the'Cecilian Branch of Louisville & Nashville, from Louisville to Cecilian
Junction, for $60,000 per annum, with option of purchasing it for
$1,000,000. The 1st mortgage bears 5 per cent till August, 1887, and
6 thereafter. Of the 2d mort. bonds $726,000 are ex-coupon to Aug.
1887. Stock—Common. $6,030,600, and preferred, $3,696,000.
From Jan. 1 to July 31 in 1887 (7 months), gross earnings were $1,000,649, against $877,686; net, $373,131, against $287,952.
The annual reports have shown:
1884.
1835.
1886.
Gross earnings...................................$1,571,155 $1,713,326 $1,717,909
Net earnings..................................... . $339,951
$502,531
$656,525
Interest, rentals, taxes, & c,.,..........
621,180
631,920
674,620
Balance, deficit............................ $281,229
$132,389 df. $18,095
-(V . 4 4 ,p. 90, 204, 344, 7 5 0 .)
C hesh ire.—Owns from South Ashburnham, Mass., to Bellows
Falls, Vt., 54 miles; leased, Monadnook Railroad, Wmehendon to
Peterboro, N H., 16 miles; and 10 miles Vermont & Mass; total 80
miles; but the Monadnock, 16 miles, is not included in the Cheshire
earnings, leaving 64 miles operated. $51,000 rental paid to Vt. &
Mass, for leased portion of road. Capital stock—common, $53,300, and
preferred, $2,100,000. Gross receipts in 1884-85, $561.203; net,
$213,856. In 1885-86, gross $623,0.2; net, $234,439 ; surplus over
interest, rentals and 5 per cent dividend on pref. stock $29,711, against
$45,410 in 1884-85 over a 3 per cent dividend.
Chicago Sc A lto n .—L ine o p R oad —Joliet to East St. Louis
(main), 244 miles; Branches—To Coal City, 30 miles; Dwight to
Washington & Lac’n, 80 miles; Roodhouse to Louisiana, 38 miles;
tipper Alton line, 8 miles. Total owned, 400 miles. Leased—Chicago
to Joliet, 37 miles; Bloomington to Godfrey, 150 miles; Louisiana
to Cedar City, 101 miles; Kansas City to Mexico, 162 miles. Total
leased, 450 miles. Total operated, Dec. 31,1886, 849 miles.
O rganization , L eases , Stocks and B onds .—Chartered as the Chio.
& Miss., Feb. 27, 1847; reorganized under act of Jan. 21,1857, as
Chic. Alton St. & Louis, and under act of Feb. 16, 1861, the present
corporation succeeded to the property, which was sold under fore
closure in the following year and transferred to new organization in
October, 1862. Chicago and St. Louis were connected by the present
line in 1864. The annual meeting is held the first Monday in April.
The Joliet & Chicago is leased from January 1, 1864, for the
term of its charter, and forms part of the main line. Rental, 7
per cent on stock.
The St. Louis Jacksonville & Chicago was
leased in perpetuity from April 30, 1868, at a rental equal to 40 per
cent of gross earnings until the amount reached $700,000, with a mini
mum of $240,000 a year, and the company in 1884 was merged with
Chicago & Alton and its stock exchanged for C. & A. stook. (See V. 38,
ip.455.) The Louisiana <fcMo. River RR. is leased for 1,000 years. Rental,
» 8
INVESTORS’
SUPPLEMENT,
£Voii. XLV,
KAILKOAD
S eptember , 1887.]
STOCKS AND
BONDS.
2 9
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In tbese Tables.
Bonds—Prinei
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Due.
Amount Rate per When Where Payable, and by pal,When
of
Par Outstanding
For explanation of column headings, <fcc., see note8 of
Stocks—Last
Road. Bonds Value.
on first page of tables.
Dividend.
Cent. Payable
Whom.
Okie. <t Alton—(OontJ—Qten. M., st’g.,for £900,000 322
1st mortgage............................................................... 220
38
Joliet & Chicago, 7 per cent, stock.........................
St. Louis Jacksonville & Chic., 1st mortgage....... 150
37
do
do
1st M. end. by Chic.& Alton
37
do
do
2d M. endorsed by C. & A ..
150
do
do
2d mortgage (convertible)
101
La. & Mo., 1st M. ($439,100 assumed by C. & A.)
do
2d M. (int. guar. C. & A .)......................... 101
do
guar. pref. stock......................................
Bonds for K.C.St.L.& C. (1st mort. as collateral). 162
___
Preferred stock, K. C. St. L. & C., guar. C. & A—
Common stock
do
Mississippi Riv. Bridge st’k (7 p. c. guar, by C &A.)
C. & A. bonds on Miss. Riv. Bridge, 1st mort., gold
Chicago <hAtlantic—1st mort., gold, $ or £ .............. 249
2d mortgage (for $5,000,000).................................. 249
Chicago Burlington <£■Northern.—Stock.................... 360
360
1st mort., redeemable at 105 and accum. int........
Ten-year debentures ($ ’ ,250,000)..........................
Chicago Burlington <£ Quincy—Stock....................... 4,036
Consolidated mortgage coupon, (for $30,000,000) 825
Trust mort.on Iowa lines,coup.or reg.(s.f. lLjp.c.) 790
Bonds Denver exten. 4s, (sink, fund l percen t)...
Bonds for Bur & S. W. road (s. f. 1 p. c .)...............
Debenture bonds for Han. & St. Jo. s to ck ............
North.Cross R. R. 2d. M (now 1st), g.,s.f.,$50,000 100
96
Trust mortgage (Burlington to Peoria)..................
Plain bonds (coupon or registered).........................
33
Sink fund bonds (for Albia Knoxv. & D. M. road).
Nebraska extension sink’g f’d b’ds, coup, and reg
45
Dixon Peoria & Hannibal, 1st. 1 Coup., but may 1
70
Ottawa Oswego& Fox Riv., 1st > be registered. >
1873
1862
....
1864
1864
1868
1868
1870
1877
1878
1877
1881
1883
1886
1886
1873
1879
1882
1881
1883
1860
1864
1872
1875
1887
1869
1870
$1,000
1,000
100
1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
100
$4.379,850
2,383,000
1,500,000
2,365,000
564,000
188,000
44,000
1,785,000
300,000
329,100
2.492.000
1.750.000
271,700
300,000
665,000
1,000
6,500,000
1,000
2,500,000
1,000
9,000,000
100
9,000,000
500 &c.
2,000,000
1,00 >
100 76,390,505
13,986,000
1,000
1,000 12,302,000
7,968,000
1,000
4,300,000
1,000
9,000,157
1,000
391,000
653,000
547,500
1,000
373,000
1,000
1,000 &c 12,000,000
545,500
Ö00 &c.
1,076.000
1,000
35 per cent of gross earnings, but interest guaranteed on second mort
gage bonds and $329,100 pref. stock; the other pref. stock is $1,010,000 and common $2,272,700; net rental in 1886, $186,279; surplus
above charges, $35,261, applied to floating debt; floating debt unpaid
January 1,1887, $128,357. The Kansas City St. Louis & Chicago is
leased to the Chicago & Alton company in perpetuity from Novem
ber 1,1877, at a rental of 35 per cent of gross earnings. The bonds are
held by U. S. Trust Company as security for the Chicago & Alton
bonds of 1878 issued to build this road, and a sinking fund of
$60,000 per annum provided for their redemption. Should the 35 per
cent be more than sufficient to pay bond interest and 1 per cent or»
the stock, the excess is to go to the lessees. The Mississippi River Bridge
is leased in perpetuity from December 3,1877, at a rental equal to 7 per
cent on $300,000 stock and 6 per cent on $700,000 bonds.
The Chic. & Alton preferred stock has prior right to a non-cumulative
dividend not exceeding 7 per ct. from net earnings, and (after payment
of 7 on common) also shares with common in any surplus. Prices of
stock have been as follows: Preferred in 1881, 140®153; in 1882,
130®l46; in 1883,140®150; in 1884, 142®152; in 1885,147&155; in
1886, 150® 162; in 1*87 to Sept. 16, inclusive, 155® 164. Common in
1 8 8 1 ,127®156; in 1882,1271«®145ia; in 1 8 8 3,128®137J4 ; in 1884,
118®14014; in 1885, 128® 140; i n ’8 6 ,138®146; i n ’87 to Sept. 16, in
clusive, 143 ®155.
Dividends were as follows: prior to the current year : In 1877, both
stocks, 7*a; in 1878, both 7; in 1879, preferred 7, common 6 ; in 1880,
pref. 7, corn. 6 *9 : in 1881 both 8 ; in 1882 both 8 : in 1883 both 8 ; in
1884, both 10; in 1885 and in 1886, both 8, the periods being changed
from semi-annual to quarterly in May, 1884.
O p e r a t i o n s a n d F i n a n c e s .— The Chicago & Alton road has been par
ticularly strong in having a large local business between Chicago and
St. Louis, so that it was less dependent on through business, which is
done at competitive rates. Its leased lines are as completely controlled
as if owned, and the system is compact.
From Jan. 1 to June 30 in 1887 (6 months) gross earnings were
$3,964,931, against $3,522,328; net, $1,657, L79, against $1,420,361.
Operations, earnings, «fee., have been as follows for four years past.
Fiscal year ends Dec. 31. Annual report for 1886 was in V. 44, p. 307.
INCOME ACCOUNT.
Receipts—
Net earnings.............
Other receipts..........
Total................
Disbursements—
Rentals p a id ............
0 mstruo’n,equip.,&c
Interest on debt.......
Dividends..................
Miscellaneous...........
Total disbursem’ts
Balance, surplus—
1883.
$
3,713,578
284.773
3,998,351
$
1,208,277
740,759
700,544
1,194,184
86,963
3,930,727
67,624
1884.
$
3,575,484
278,818
3,854,302
$
823,565
292,221
770,683
1,646,840
88.263
3,621,572
232.730
1885.
$
3,380,322
272,845
3,653,167
$
704.473
380,702
839,307
1,409,750
93.854
3,428,086
225,081
1886.
$
3,409,684
282.654
3,602,338
$
701,777
254,134
836,381
1,407,224
102.116
3,301,632
390,706
C h ic a g o Sc A t l a n t i c .—Opened May 14,1883, from Marion, O., on
line of NTY. Pa. & O., to Hammond, Ind., 249 miles, and thence over
the Chicago & West. Ind. to Chicago, 19 miles. Built as a connecting line
for N. Y. P. & O. and N. Y. L. E. & W., and both these companies guaran
teed the gross earnings on business over their roads to and from the
Chic. & Atlantic, as security for interest on the bonds. Stock, $10,u00,000. of which $9,000,000 was deposited with H. J. Jewett (then President
of N. Y. L. E. & W.), in trust to hold and vote on it. On Nov. 1,1884, the
interest due on 1st mort. bonds was defaulted. The 2d mortgage bonds
were largely pledged for N. Y. Lake E. & W. loans, partly to Grant &
Ward. In Feb., 1836, suit was brought by the Farmers’ L. & T. Co. to
foreclose the first mortgage. In May, 1886, Mr. Jas. H. Benedict was
elected President. An outline of proposed foreclosure and arrange
ment with Erie was in Chronicle of March 19,1887, V. 44, p. 369, by
which arrangement the new issue of bonds will be $12,000,000 at 4 per
cent gold, guaranteed by N. Y. L. E. & W., and $1<'0,000 only of stock
to be held by that com pany; there will also be $10,000,000 of 5 per
cent non-cumulative income bonds. (Y. 43, p. 131, 217, 308, 333; Y. 44,
p. 21, 173, 343, 369.)
C hicago B u rlin g ton A N orth ern .—Owns rrom Oregon, III.,
to St. Paul, Minn., 348 miles, and track from Fulton to Savanna, n i ; total
360 miles. The road was completed Aug., 1886, under Chicago B. & Q.
auspices, as per circular of August 1, 1885 (in Chronicle, V. 41, p.
160). The Chic. B. & Q. and Chic. & Iowa give a traftio guarantee for
twenty yeat s of one-half of their net earnings derived from business to
and from the C. B. & N., to be not less than $100,000 per year, for the
purchase of C. B. & N. bonds at 105; and after J896 the bonds may all
be retired at 105. Any 2 i mort. issue! must be limited to $10,000 per
mile, and shall provide tnat, out of the bonds issued thereunuer, an
amount equal t> the principal of the debentures then outstanding
shall be reserved and applied only to their payment. From Jan. 1 to
June 30 in H 87 (6 months) gross earnings were .31,270,285; net earn
ings, $331,575. (Y. 43, p. 125, 217, 308, 334, 516, 619; V. 45, p. 210.)
<Uillcago B u r l i n g t o n Sc t^ m n e y . —L ine of R oad .—The C. B. &
Q. is one of the most complex railroad systems in the U. 8. It has a net
work of lines in HI., Iowa and Neb. The main line extends from Chic.
HI., to Burlington, Iowa, 204 miles, and thence to Pacific Junction, 276
miles, and from Pacific Junction to Denver, Col., 577 miles,making the
J. & J. Lond’n,J.S.Morgan&Co. July 1, 1903
J. & J. N. Y., John Paton & Co. Jan., 1893
Oct., 1887
Q .-J .
N. Y. U. 8. Trust Co.
A. & O. N. Y., John Paton &Co. April. 1894
A. & O.
April 1. 1894
do
do
J. & J.
July, 1898
do
do
J. & J.
July, 1898
do
do
F. & A.
Aug., 1900
do
do
M. & N.
Nov. 1, 1900
do
do
F. & A.
do
do
Aug. 1, 1887
M. & N.
May 1, 1903
do
do
Q.—F.
Ik
Aug. 1, 1887
do
do
3k
Chic., 111. Tr. & Sav. Bk. May 1, 1886
.... Chic., Treasurer’s Office In 1886
7
A. <fe O. N. Y., John Paton & Co. Oot. 1, 1912
6
6 g. M. & N. Last paid May 1,1884 Nov. 1, 1920
Aug. 1,1923
6 g. F. & A.
None paid.
6 g.
7
1%
7
7
7
7
7
7
313
6 g.
5
6
2
7
4& 5
4
4
5
4 g.
7
7
5
4
8
8
A. & O.
J. & D.
Q.—M.
J. & J.
A. & O.
F. & A.
M. & S.
M. & N.
J. & J.
A. & O.
J. & J.
J. & D.
M. & N.
J. & J.
J. & J.
Bost., Merch. Nat. Bank
do
do
Boston and New York.
N. Y., Bk. of Commerce.
do
do
do
ao
do
do
do
do
Frankfort.
N.Y., N. Bk. of Com’rce.
Boston, Co.’s office.
do
do
N. Y. and Boston.
N.Y..N. BK. of Com’rce.
New York and Boston.
4pril 1, 1926
Dec. 1, 1896
Sept. 15,1887
July 1, 1903
Oct. 1, 1919
Feb. 1, 1922
Sept. 1, 1921
May 1, 1913
July 1, 1890
Oct. 1, 1890
Jan. 1, 1896
June 1, 1895
May 1, 1927
July 1, 1889
July 1. 1900
distance from Chicago to Denver 1,057 miles. From Pacific Junction
to Council Bluffs is 18 miles (track used jointly with K. C. St. Jo. & O.
B.), making the C. B. & Q. line, Chicago to Council Bluffs, 498 miles.
The Extens. to Denver was opened May, 1882. Besides numerous local
roads the company also has its line in Illinois to East St. Louis, and to
Jaincy, connecting with the Hannibal & St. Joseph road (purchased by
C. B. & Q. in 1883) across Missouri to St. Joseph. The mileage reported
at the close of 1886 was 4,036, of which 122 miles were leased or oper
a te! witn other companies. In addition to this the company con
trols and largely owns the St. Louis Keokuk & N. W. road, l S l ^ miles ;
the Kansas City St. Joseph & Council Bluffs, 313 miles; the Chicago
Burlington & Kansas City, 153 miles; the St. Joseph & Des Moines, 50
miles; and a half-interest with Wabash in the Humeston & Shenandoah,
113 miles. The allied road to St. Paul is the Chic. Bur. & Northern. In
September, 1887, the Denver Utah & Pacific (narrow gange), 43 miles,
Denver to Lyons, Col., was purchased.
Organization , &c .—The C. B. & Q. was a consolidation in 1856 of the
Chic. & Aurora and the Cent. Military Track railroads, and purchased
in 1860 the Northern Cross RR. and in 1862 the Peoria & Oquawka road.
The present company was a consolidation in January, 1875, of the
Chicago Burlington & Quincy in Illinois and the Burlington & Missouri
River in Iowa. In 1880 the Burlington & Missouri in Nebraska
was absorbed. The leased lines are practically owned and there
is no charge for rentals in the income acoount, exoept as interest on
bonds. The ownership in the other roads above-mentioned is in the
stocks and bonds thereof, and their accounts are kept separate. In
In August, 1885, the agreement was made with the Chic. Bur. & No.
for rhe line to St. Paul, and the Chic. B. & Q. owns $3,000,000 of the
stock of that comp my; see circular in V. 41, p. 160. The fiscal year
ends Dec. 31. Annual election in April.
Stocks and B onos .—The stock has been rapidly increased for the
acquisition of new lines, and in 1880 a distribution of 20 per cent in
stock was made. Dividends have b een : In 1877, 9 per cen t; in
1878, lOig; in 1879. 8; in 1880, 9 k cash and 20 stock; in 1881, in
1882, in 1883, in 1884. in 1885 and in 1836,8 paid. The prices of stock
have been: In 1881,133k® 182k; in 1882,120k® 141; in 1863,1153«,®
1293a; in 1884. 107®127%: in 1885, 115k®138k; in 1836, 123%®
141; in 1887 to Sept. 16, inclusive. 131®156.
The C. B. & Q. on many of its branch lines gave a traffic guarantee of
40 to 50 per cent, which was used in purchasing their bonds. The
Kansas City St. Joseph & Council Bluffs and branches was purchased
(254 miles), and the Chic. Burl. & Q. stock issued therefor at $125 per
share, taking the St. Jo. stock at $72 50 per share. Enough of the C. B.
& Q. consolidated mortgage is reserved to take up prior debts. The
bonds of 1876 are secured by mortgage bonds of like amount on St.
Louis Rock Island & Chicago road deposited with trustees. The collateral
trust extension bonds of 1)387 are issued at $20,000 per mile for single
track and $L0,0u0 per mile additional for second track.
The several sinking funds amounted Deo. 31, 1886, to $12,062,035,
as folow s: For land grant bonds, Burlington & Mo. River RR. (Iowa),
$6,375,568; 4 and 5 per cents. Iowa Division, $1,198,085 5 per cents
for Albia Knoxv. & Des M. RR., $215,764; 5 per cents for St. L. R. 1. &
C. RR., $621,833; 4 per cents of 1922 (Denver extension). $4 <5,358 ; 4
per cents of 1921 (Bur. & S. W. Rv.), $238,214; B. & Mo. River RR. in
Nebraska 6 per cents of 1918, $2,26 »,724; B. <fe Mo. River i Nebraska
4 per cents of 1910 (A. & N. RR.), $542,043; Republican Valley RR. 6
per cents of 1919, $118,513; Lincoln & N. W. RR. 7 per cents of 1910,
$47,933.
,
L and G ran t .—In Iowa only 12,000 acres remam unsold, and the con
tracts outstanding Deo. 31, ’86, were for $427,680, principal and inter
est. In Nebraska the net sales for the year 1886 were 10,947 acres,
for $69,269. Contracts on hand, $1,829,849; unsold lands, 81,000
acres, estimated at $4 per acre, $324,000.
O perations and F inances .—The Chicago Burlington & Quincy Rail
road has been one of the most profitable in the country, as its numerous
branches tributary to the main line were built into choice agricultural
territory, where they enjoyed a monopoly of^ the local business at full
rates. The company gives no full traffic statistics in its report, and the
mileage of freight and passengers is not known; but corn is the most
important articue carried.
,
_ ,. _ _
From Jan. 1 to July 31 in 1887 (7mos.) gross eam’gs were $15,443,908,
against 13,654,100 in 1-8 6 ; net, $6,965,454, against $6,013,087.
The annual report for 1886 was published in the Ch ronicle , Y. 44,
(p. 432i. Comparative statistics for four years are as follow s:
1886.
1885.
1884.
3,914
3,534
3,369
Miles ow’d and leas’d
113
122
98
Miles oper’d jointly.
3,647
4,036
3,322
3,467
Total operated..
FISCAL RESULTS.
1885.
1886.
1884.
1883.
$
$
$
$ ___
Gamings—
5,63 1,261
5,286,407
5,339,866
Passenger.................
5,285,839
19,565,854
19,367,035
18.514.432
Freight...................... 19,514,161
1,704,164 1,727.212
1,629,315
Mail, express, &o___
1,310,369
Total gro<8 earnings 26,110.369 25.483,613 26,556,425 26,728,408
Oper! exp. & taxes . 13,496^479 14.090.745 14,405,768 14,491,633
Net e a r n i n g s • 12,613,890 11,392,868 12,150,657 12,236,725
P.C. of op.ex. to earn
51*7
55*3
54*25
54*22
30
INVESTORS’
SUPPLEMENT.
You XLV.
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered In tbese Tables.
Bonds—Prinei
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per
Par
of
For explanation of column headings, &c., see notes of
When Where Payable, and by Stocks—Last
Outstanding
Road. Bonds Value.
on first page of tables.
Cent. Payable
Whom.
Dividend.
Chicago Burlington <& Quincy—( Continued)—
Illinois Grand Trunk, 1st mort 1 Coup., but may 1
Quincy & Warsaw. 1st mort . . i be i egis ered. j
S. fund bonds (St. L. R. I. & Chic. mort, eollat ) ...
Quincy Alton & St. L. (leased), 1st mortgage........
Burl.<fe Mo.Riv., 1st on r’d &400.000 acres land)..
do 1st M. conv. bonds, (5th & 6th series)___
Burl. <&Mo. consol. M. 1. gr. (s.f. $180,000)............
do
Omaha & 8. W., 1st M., guar................
Burl. & Mo. bonds, s. f. for Atch. & Neb. RR. stock
Nebraska Railway consol, mort., guar..................
Republican Valley RR., sink, fund, $14,000..........
Atchison & Nebraska, is t mortgage......................
Lincoln & Northwestern RR. bonds, sink. Pd 1 p. o.
Kansas City St. Jo. & C. Bl., m ortgage.................
Chicago <&Canada Southern—1st mortl, gold..........
Chic. Detroit <t Canada Or. Trunk Junction—1st M.
Chic. <6 East. III.—Stock...............................................
1st M., coup. (s. f. $20,000 after ’ 8 5 ) .....................
2d mort, income (non-cumu.) conv. into consol...
Consol, mort., gold (for $6,000,u00).......................
C. & E. 111. Extension, 1st mortgage......................
Dan. & Grape Creek RR.—1st mortgage................
Chicago (ÊOr. Trunk—IstM., $ & £ ($556.000 res’d)
2d mort...............................................................
Northwest. Grand Trunk, 1st mort.......................
Chicago <6 Great Western—1st mort., gold................
Chicago & Indiana Coal—1st mortgage....................
Chicago <é Iowa—1st & 2d morts. (1st is $600,000).
1st & 2d mortgages C. R. & N.......... ........................
INCOME ACCOUNT.
48 1870 $500&c.
$890.500
1,000
40 1870
720,000
1,000
2,325,000
270 1876
1,000
46 1876
840,000
50 &c.
281 1863
4,170,550
40 ’69-’70 500 &c.
224,500
628 1878 600 &c. 12,858,000
1,000
49 1871
669,000
1,000
1880
3,347,000
1,000
133 1877
385,000
1,000
148 1879
1,078,000
146 1878 lOO&c.
1.125,000
72 1880
600,000
274 1877 ldo&c.
5,000,000
1,000
1872
67
2.541.000
100
59 1864
1.095.000
100
246
3,000,000
116 1877 100 &c.
3.000,000
116 1877 100 &c.
74,000
1,000
208 1884
2,748,000
1,000
15 1881
131,000
1,000
7 1880
121,000
330 1880 Ä100&C 5,444,000
1,000
330 1882
6,000,000
66 1880 500 &o.
556,000
1,000
10 1886
4,000,000
1,000
145 1886
3,689,000
1,000
80 1870
1,750,000
24 1375
400,000
1833
1884.
1885.
1886.
Receipts—
$
$
$
$
Net earnings............ 12,613,890 11,392.868 12,150.657 12,236,725
Interest and exch ..
324,180
566,769
592,432
615,342
Net B. & M. I’d gr’t..
1,595,788 1,129,591
985,796
846,771
Total income......... 14,533.858 13,089,228 13,728,885 13,698,838
Disbursements—
$
$
$
$
144,506
139,604
187,171
153,215
Rentals paid.............
Interest on debt........
4,093,005
4,304,284
4,294,263 4,391.004
Dividends..................
5,566,484
5,566.580 6,110,572 6,110,722
Rate of dividends...
8
8
8
8
Carried to sink’g f ’d.
646,430
938,064
646,430
670,295
Transf’dtoren ’a lf’d.
1,500,000
500,000 1,000,000 1,000,000
Total disbursements 11,950,425 11,448,532 12,238,436 12,325,236
Balance,surplus......
2,583,433
1,640.696
1,490,449 1,373.602
—(Y. 44, p. 59, 90, 211, 343, 415, 4 3 2 , 466, 518, 525; Y. 45. p. 52, 210,
373.)
C hicago Sc Canada Sou th ern .—Owns from Grosse Isle, Mich., to
Fayette, O., 67 miles. On Nov. 1,1879, it was transferred to the Lake
Shore & Michigan So. It has a capital stock amounting to $2,667,400
and a bonded debt of $2,541,000, and owes $2,2 23,051 overdue coupons.
Original cost, $5,176,557. It is a part of a projected line between Chi
cago and Detroit River, but failed in 1873. Gross earnings in 1885,
$40,974, def. under operating expenses, $19,601. Gross in 1886, $45,643; deficit under operating expenses and taxes, $9,443. On October
23,1886, a suit in foreclosure was begun. (V. 43, p. 515.)
C hicago D etroit & Canada G rand J u n ctio n .—Owns from
Port Huron, Mich., to Detroit Junction, 59 miles. Opened in 1859.
Leased to Grand Trunk of Canada. Earnings in 1886, $237,045; net,
$32,128; paid interest, $65,700, and dividends, semi-annually, each 2
per cent, $43,800; deficit, $77,371, advanced by lessees. Capital stock,
$1,095,000. There is also a 5 per cent bond for $691,141 issued to G.
T. RR. Co. The road is owned by the lessees.
C hicago Sc Eastern Illin o is .—Owns from Dolton, 111., to Dan
ville, HI., 107*2 miles; Covington, Ind., to Coal Creek, Ind.. 9 miles;
Danville to SideH’s, 22 miles; leased, Dolton to Chicago (C. & W. I.), 16
miles; Wellington Junction to Cissna Park, 13 miles; Evansville Terre
Haute & C. RR., Terre Haute to Danville, 111., 55 miles; Otter Creek to
Brazil, Ind., 13 m iles; Danville, 111., to Covington, Ind., 13 miles;
total operated, 246 miles. The leases of 17 miles, Dolton to Chicago,
and 13 miles, Danville to Covington, are contracts for use of track over
other roads. The Evansville T. H. & Chicago was leased May 1. 1880.
The Chicago & East Illinois was chartered as Chicago Danville &
Vincennes in 1865, and opened in 1872 and 1873. Sold under foreclos
ure Feb. 7, 1877, and reorganized under existing style Sept. 1,1877.
A consol, mortgage for $6,000,000 was authorized, of which $3,425,000
is held to retire prior issues. Under the terms of leases the C. & E. 111.
guarantees interest on $1,515,000 bonds of leased roads.
In April, 1887, a sale was made of nearly the whole stock of this com
pany at 110 to parties interested in the Chicago & Indiana Coal Rail
way (see V. 44, p. 453), and a connection is Duilding from Momence,
Hi., to Goodland, Ind.—(V. 43, p. 102, 3 9 8 ,4 3 0 ; V. 4 4 ,p. 433,458. 553;
V. 45, p. 142, 304, 340.)
Chicago Sc G rand T runfc.—Line of road from Port Huron, Mich.,
to Chicago, 330*2 miles; also uses 4*2 miles of Chicago & West. Indiana
and 4 miles Grand Trunk Junction RR.; total operated, 339 miles. This
is a consolidation of roads between Port Huron and Chicago formed in
April, 1880, under the control of the Gr. Trunk of Canada. It includes
the fo rmer Port Hur^n & Lake Michigan and the Peninsula roads, sold in
foreclosure. 8toe*., $6,600,000 in $100 shares. The Grand Trunk of
Canada gives a traffic guarantee of 30 per cent of gross earnings on
business to and from the Chicago & Grand Trunk Road. Gross earnings
from Jan. 1 to June 30 were $1,615,655 in 1887, qgainst $1,412,665 in
1886: net, $427,313, against $257,449. Gross earnings tor 1885,$?.681,220; net, $385,553. In 1886, gross earnings, $3,041,40;; net, $685,3 v9 , all expended in payment of interest, rentals, &e. (V. 44, p. 400 •
V. 45, p. 52.)
’
C hicago Sc Great W e ste rn .—Owns a double-track road entering
Chicago from the west, and terminating at Polk st., east of the Chicago
River, with large terminal property. The interest on 1st mort. bonds is
guaranteed by the Wisconsin Central and its allied lines, which enter
Chicago over this road.
Chicago Sc In d ia n a Coal.—Line of road, Brazil to La Crosse, Ind
145 miles. In May, 1887, leased 34 miles of the Chic. & West Mich,
road, La Crosse to New Buffalo. This company acquired at foreclos
ure the former Chic. & Great Southern. The 1st mortgage covers the
entire property and the bonds authorized are $ 1 ,0 0 0 /too for the line
between Yeddo and Brazil, 42 miles; $18,000 per mile of new track
acquired; and $8,000 additional for double track, and $7,000 per mile
for equipment. The stock authorized is $6,000,000 common and $4,000 ,000 preferred, of which $2,197,800 common and $1,465,200 pref. have
^
m oa - c— - — —
been issued. flaoMj a— — g *---------- «
net
$24;
494, 495.)
Chicago Sc I o w a .- Owns from Aurora, 111., to Foreston, 111., 80
miles; leased, Flagg Centre to Bickford. 24 miles; total operated. 104
miles. Gross earnings for year ending June 30, 1886, were $516,595 ;
8
8
5
5
7
8
6
8
4
7
6
7
7
7
A.
J.
A.
F.
A
J.
J.
& O. Boston, C. B. & Q Office
& J. N.Y.,Farmers' L.'&T.Co.
& O. Boston, Co.’s Office.
& A. N.Y.,Farmers’ L.& T.Co.
& O Boston, Co.’s Office.
& J.
do
do
& J.
do
do
do
do
J. & J. Boston, Co.’s Office.
A. & O.
do
do
J & J.
do
do
M. & 8.
do
do
J. & J.
do
do
J. & J.
do
do
A. & O.
Ï * J. & J. London, England.
3
M. & S. N. Y., Central Trust Co.
6
J. & D. New York, 4th Nat. Bk.
7
Dec. N. Y., Central Trust Co.
do
do
6 g. A. & 0.
6
J. & D. New York, 4th Nat. Bk.
M. & N. Boston, Globe Nat. Bk.
6
6 g. J. & J. New York and London.
5
J. & J.
do
do
6
J. & J. N.Y.. E.P.Beach.B’way.
New York Office.
5 g. J. & D.
5
J. & J. N. Y.. Met. Trust Co.
8
J. & J. N. Y. .Farmers’ L. &T. Co.
A. & O.
8
Oct. 1, 1890
July 1, 1890
Oct. 1, 1901
Feb. 1, 1896
Oct. 1, 1893
1889 & 1894
July 1, 1918
Juñe 1, 1896
Jan. 1, 1910
Oct. 1, 1896
Jan. 1, 1919
Mar. 1, 1908
Jan. 1, 1910
Jan. 1, 1907
April 1, 1902
July 1, 1884
Sept. 1, 1887
Dec. 1, 1907
Deo. 1, 1907
Oct. 1,1934
Dec. 1, 1931
Mav 1,1920
Jan. 1, 1900
Jan., 1922
Jan. i , 1910
June 1, 1936
Jan. 1, 1936
1900 & 1901
1895
**et, $174,984; surplus over interest, $2,984. Capital stock, $1,428,000. This road is controlled by the Chicago Burlington & Quincy,
which owns the most of its stock and debt.
C h ic a g o M ilw a u k e e Sc S t. P a u l .—(See Map.)—L in e of R o a d .—
The company operates a great consolidated system of railroads in Illinois,
Wisconsin, Minnesota, Iowa and Dakota, which are well shown on the
accompanying map. The main through lines are from Chicago to Mil
waukee, 85 miles; Milwaukee to St. Paul and Minneapolis, via La Crosse,
341 miles; Milwaukee to Prairie du Chien, 194 miles; McGregor (oppo
site Prairie du Chien) to Chamberlain, Dak., on the Missouri River. 442
miles; Chicago, via Savanna, on the Mississippi River, to Council Buffs,
la., 487 miles; Minneapolis to Aberdeen. Dak., 288 miles. On Deo 31,
1886, the mileage in Illinois was 313; in Wisconsin, 1,231; in Iowa, 1,511;
in Minnesota, 1,117; in Missouri, 12; in Dakota, 1,114. Total miles oper
ated, 5,298; including Fargo & South, road, 117 miles, Fargo, Dak., to
Ortonville, Minn., acquired in July, 1885.
Organization , &c .—The Milw. & St. Paul RR. Co. was organized May
5,1863, and embraced a numher of other companies, including the Mil
waukee & Miss., the Prairie du Chien, the Lacrosse & Milwaukee, and
otuer8. The Milwaukee & St. Paul afterward purchased the St. Paul &
Chicago Road and others, and built the line from Milwaukee to Chicago,
and on February 11,1874, the company took its present name. The
The fiscal year ends Dec. 31. The annual meeting is held early in June.
Stocks and B onds .—The preferred stock has a prior right over the
common stock to a dividend of not over 7 p. c. from net earnings in
each year, but if not earned it has no cumulative right. If a dividend
was earned in any year and not paid, there might be a claim on future
years for such dividend. After payment of 7 on pref. and 7 on com.,
both classes share pro rata. Dividends paid since 1873 have been as
follows (prior to current year): In 1874, 7 on preferred paid In consol,
bonds; in 1875 no dividend; in 1876, 3*2 cash on preferred and 14 per
cent in bonds; in 1877, 3*2 on preferred; in 1878,10*2 on preferred; in
1879, 2*2 on common and 7 on preferred; in 1880,1881,1882.1883 and
1884, 7 on both; in 1885, 4 on common and 7 on preferred; in 1886, 5 on
common and 7 on preferred.
The range in prices of stocks since 1877 have been: Pref. in 1878,64®
84%: in 1879, 74%® 102%; in 1880, 99®124*a; in 1881, 116%®140; in
1882,114*2® 144%; in 1883,115®122*4; in 1884, 95%®119: in 1885,
102®125; in 1886, 116® 125%; in 1887 tp Sept. 16, incl.. 109®127!%.
Common—In 1878. 27*2@54°8; in 1879, 343a@32*8; in 1880, 66*2 ®
114%; in 1881, 101*2®129*4; in 1882, 96*2®128*4; in 1883, 91%®
108*2; in 1884, 58*4@94*4; in 1885, 64%®99; in 1886, 82!%@99; in
1887 to Sept. 16, incl., 78%®95.
An abstraot of the terms o f som e o f the principal m ortgages was pub
lished in the Ch ronicle , V. 45, pp. 8 5 ,1 1 4 , 144 and 212.
Of the consolidated mortgage bonds of 1875, enough were reserved to
take up the prior bonds; these bonds may be stamped and discharged
from the sinking fund provisions. The Chicago & Pacific Western
Division bonds are issued at $20,000 per mile on new lines built or ac
quired. The St. Paul & Chicago, the Chicago & Milwaukee, the Consoli
dated and the Iowa & Minn. Div. bonds are convertible into preferred
stock. The terminal bonds issued in 1884 are secured by mortgage on
the terminal property in Chicago and Milwaukee, subject to the lien
of the general mortgage on part of the track and terminals in these
cities; but it covers also property quite detached which cost about
$3,000,000 acquired tome time after the general mort. was made; also
property to be acquired as needed to amount of $3,u00,000 and
depot in Milwaukee costing $1,000,000. The Income bonds of 1886
are for an authorized issue of $5,o00,000, and are convertible into
common stock, on notice, 60 days after any dividend day. They
have a sinking fund of 4 per cent, beginning in 1839, and may
be drawn at 105. After ’88, if a majority of the bondholders so request,
a 2d mortgage shall be made on the line, Chicago to Kansas City,
and a first oa the Mo. River bridge and terminals in Kansas City.
In addition to above bonds there are $89,000 Hastings & Dak. 7s, due
in 1902, and $35,000 Oshkosh & Miss. River 8s, due in 1891; also
$275,000 5 per cent real estate mortgages due in 1890 and 1894.
O perations , F inances , &c.—The mileage and also the btock and debt
of this company increased very rapidly in six years, the miles owned
being 2,359 on January 1,1880, against 5,298 on January 1,1887, and
the stock and bonded debt, in round figures, $69,000,000 on January 1,
1880, against $164,118,161 January 1,1887. In June, 1887, $10,000,000 new common stock was issued for new acquisitions, extensions,
&c., of which $7,000,000 (12 per cent on their hoi lings) was allotted to
stockholders of record June 25, at $85 per share
From Jan. I to July 31 in 1887 (7 m os.), gross earnings were $13,039,957, against $12,674,602 i n '1886, and net earnings, $4,358,449,
against $4,339,639.
The annual report for 1886 was in V. 44, p. 399.
detail were given in the Chronicle , as follow s:
The statistics in
OPERATIONS AND FISCAL RESULTS.
1883.
1884.
1885.
1886.
4,760
4,8u4
4,921
5,298
Miles operated..........
Operations—
Passengers carried..
4,591.232
4,904,678 4,319,187
5,481,400
Passenger mileage... 235,579,660 225,851,443 214,550,187 234,444,700
Rate per pass. p. mile.
2*52 cts.
2*55 cts.
2\56 cts.
2‘42 cts.
Freight (tons) moved. 5,661,667
6,023,016 6,482,869
7,»>85,072
Freight (tons) mil’ge.1176605032 1247737233 1337721453 1486509713
Av. rate p. ton p. mile.
1*39 cts.
1’29 cts.
D28 cts.
1 1 7 cts.
BONDS
RAILROAD
AND
STOCKS
S e p t e m b e r , 1887.]
INTESTOES’
3 3
SUPPLEMENT.
[ V o l . XLV.
Subscribers w i l l confer a great favor by g iv in g im m ed ia te notice o f any error discovered in these T a bles.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
Due.
Miles Date Size, or
Amount Rate per When Where Payable and by pal,When
Stocks—Last
par Outstanding
of
For explanation of column headings, dec., see notes of
Dividend.
Cent. Pay’ble
Whom.
Road. Bonds. Value.
on first page of tables.
$100 $40,904,261
5,298
Ohieaao Milwaukee <£ St. Paul—Com. stock.
___
100 21,596,900
Preferred st’ek (7 D. c. v ’rlv. not cumulative)........ 5,298
1,000 11,470.000
1,435 1875
Consolidated mortgage (for $35,000,000)..
1,000
5,264,000
1863
370
1st mort. (Lacrosse D iv .)...........................
1,000
3,198,000
230 1867
fa
1,000
1864
123,000
49
D
1st mortgage (Minnesota Central)............. 03 O
1,000
541,000
126 1869
1st mortgage (Iowa <&Dakota)................... r-'d
1,000
3,505,000
1878
234
1st M.,Ia.<feDak.Ext.($15,000 p.m.)............
1,000
3,674,000
195 1868
1st mortgage (Prairie du Chien)................
1,000
1,241,000
195 1868
2d mortgage (Prairie du Chien)................
1,000
215,000
1861
p /2
500
&c.
1872
3,804,500
130
St.P.&C.lst M.(Riv. D.)$«fc£(eonv.)............
1,000
2,393,000
85 1873
1st M.. Chie. «fe Mil. line............................... 8 £
1,000
2,500,000
Bonds’on Lac’se <&Dav. Div.. for Dav. & Nw. RR. 185 1879
1,000
4,000,000
212 1879
1st, mort, on S. W. Div. Western Union RR.
1,009
3,000,000
1st mort, on Chic. & Pac. Div., Chic, to Miss. Riv.. 119 1880
1,000
7,432,000
1st mort, on So. Minnesota Div. ($9,000,000)----- 419 1880
....
1880
1,437,000
Land grant income bonds.............................
6,265,000
417 1880-6 1,000
1st M/on Hast.«fc Dak. Liv. extens. ($ 15.000 p.m.)
1,000
6,576,000
372 1880
1st M; on Ch. Cl. D. & M................................
1,000
1,669.000
107 1880
1st mort. on Wisconsin Valley R R .............
500
1,106,500
107 1879
Prior mort.
do
.............
1,000
142
1880
2,840,000
1st mortgage, Mineral Point Division........
1,000
1,360,000
68 1881
1st mortgage Chic. & Lake Superior Div.,..
1,000
4,755,000
230 1881
IstM.Wis. & Minn. Div. ($20.000 p. m .)...
1,000 24,540,000
1st M., gold, on Chic. «fe Pac., W. Div., $20,000 p. m. 1,245 1881
1,000
2,049,000
77 1886
Chic. <&Mo. Riv. Div.. lstm ortg., ($20,000 p. m.).
1,000
1886
2,000,000
Income bonds convertible.............................
1,000
1884
4,666,000
Terminal mort., gold, coup. orreg.(for $5,000,000)
1,000
1,250,000
Fargo & Southern, 1st mortgage, gold, assumed.. 119 1883
....
1885
200.000
do
incomes.............................
1,000
988,000
Dakota & Gt. South’n, 1st, gold ($18,000 per m .). . . . . 1886
1886.
1883,
1884.
1885.
$
$
$
5,661,690
Passenger.................. 5,927,668
5,766,843
5,499,737
Freight....................... 16,365,354 16,128,964 17,101,742 17,358,294
1,698,419
Mail, express,&o.. . . . 1.366,802
1,575.191
1,811.794
Total gross eam’gs 23,659,824 23,470,9.98 24.413,273 24,718,403
$
Operating expenses—
$
$
$
2,641,977
Maint’nce of w ay*... 2,548,609
2,339,635
2,551,327
2,327,875
Maint’nce of equip’t.
2,489,257 2,574,437 2,430,809
8,675,045
Transp’rt’t’n exp’n’st 8,011,533
8,102,668
8,646,132
759,350
T a x e s ............................
614,609 702,060
733,515
156,017
Miscellaneous...........
114,029
140,829
150,658
Tot. operating exp. 13,859,629 14,512.471 14,560,264 14,560,264
10,158,139
9,611,369
9,900,802
Net earnings............. ' 9,881,787
58*90
Pr. ot.op.ex. to earns
58*23
59*05
59*45
E arning »—
* Includes renewal of track, t Including elevators, stock-yards, per
sonal injuries and damages to property, legal, insurance rent of cars,
trackage, &c.
INCOMB ACCOUNT.
1885.
1886.
1883.
1884.
Receipts—
$
$
$
$
9,900,802 10,158,139
Net earnings............. 9,881,787 9,611,369
105,939
144,654
164,707
82,307
Other receipts..........
9,693,676 10,006,741 10,302,7 93
Total incom e. . . . x0,u46.494
D isbursem ents—
$
$
$
6,241,093
6.096,573
5,918,608
Interest on debt....... 5,373,925
3,053,076
2,394,039
3,321,167
Divs. on both stocks* 3,212,895
7 &4
7&5
7 both
Rate of dividend.. . . . 7 both
8,490,612
9,239.775
9,294,169
Tot. disbursem’nts 8,586,820
1,516,129
1,008,624
453,901
Balance for y e a r.... 1,459,674
♦These are the actual dividends paid in the year, without regard to the
tim e when they were earned.
GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.
1883.
1884.
1885.
1886.
A ssets—
$
$
$
$
Railroad,equipm’t&cl46,093,665 149,426,734 154,228,775 165,898,616
St’ks <feb’ds own.,cost
1,161,980 1,228,283
754,792
877,486
Bills«feacc’ts rec’able
1,550,232 1,146,059 1,452,309
768,782
Materials, fuel, & o...
1,223,043 1,483,365 1,543,217 2,048,985
3,048,965
2,971,133 4,262,378 4,682.434
Cash on hand............
111. & Iowa coal lands
944,132
680,475
617,026
583.5*26
Total assets............. 154,022,017 156,936,049 162,858,497 174,609,829
L iabilities —
$
$
$
$
Stock, com m on. . . . . .
30,904,261 30,904,261 30,904,261 30,904,261
Stock, preferred....... 16,540,983 16,540,983 21,540,900 21,555,900
Funded d e b t ............ 96,272,000 100,254,000 101,470,000 111,658,000
All other dues&acc’ts
1,711,099 2,093,163
164,958
431,825
Unpaid pay-rolls, &c.
1,732,687 1,610,661
1,729,269 2,249,109
Land department...
1,781,907
............
............
............
Income account____ 5,079,030
5,532,981 7,049,109 8,057,734
Total liabilities.. 154,022,017 156,936,049 162,858,497 174,859,829
—(Y. 43, p. 387, 399, 472, 572, 608, 635; V. 44, p. 22,117,149, 260, 275,
83, 392, 39 9 , 5*6, 681, 712, 751; V. 45, p. 85, 114, 144, 210, 212, 312.;
C hicago & N orth w estern .—( See Map.)—L ine of R oad —The Chic.
& Northw. operates 4,101 miles of its own roads and controls 1,339 miles
of the Chic. St. P. Minn. & Om., 723 miles of Fremont Elk. <& Mo. Val.;
77ofW j om. Cent., and 107 of Sioux City &Pae.; total controlled, 6,347m.
The mileage is extensive, and is shown clearly in the accompanying
map. The main line from Chicago to East Omaha, Iowa, is 492 miles,
and this forms practically the southern boundary of the whole system,
the company having nothing to the south of that line, with the excep
tion of a few insignificant branches. At the end of the fiscal year, May
31, 1887, the Chic. & Northwestern mileage was made up in the annual
report as follows:Wisconsin Division, 549 miles; Galena Division, 400
mile s ; Iowa Division, 764 miles; No. Iowa Division, 385 miles; Madison
Division, 509 miles; Peninsula Division, 377 miles; Winona <fc St. Peter
Division, 448 miles; Dakota Division, 566 miles; total, 4,101 miles. In
July, 1884, the Blair roads, previously leased, were acquired by purchase,
but the Sioux City <&Pacific and Fremont Elkhorn <fe Missouri Valley (in
cluding Wyoming Central) are operated separately (907 miles) and
their earnings not included in those of C. <fe N.W.. but separately stated
in the annual renorts in the Chronicle on p. 130 of V. 43 and p. 178
of V. 45.
O r g a n i z a t i o n , «fee.—The Chicago St Paul <fe Fond-du-Lao Railroad
which was a consolidation of several roads, was sold in foreclosure
June 2,1859, and the Chicago & Northwestern Railway was organized
as its successor. In 1864 the company absorbed the Dixon Rock. &
Kenosha, the Gal. & Chic. Union and the Peninsular RR. of Michigan,
and has since absorbed by consolidation a large number of other roads,
including those whioh were operated as “ proprietary roads.”
In December, 1882, a controlling interest was acquired in the stock of
the Chic. St. Paul Minneapolis & Omaha Co. by the purchase of 53,800
shares of preferred and 93,200 shares of oom. stock.
In July, 1884, the leased lines m Iowa (Blair roa4s) were acquired
on the terms stated in the S upplement o f June, 1885, and prior issues.
The fiscal year ends May 31. The annual meeting is held early in June.
2%
3%
7
7
7
7
7
7
8
7*3
7
7 g.
7
5
6
6
6
7
7 &5
6
6
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5
5
5 g.
5 g5
5
5 g.
6 g.
6
5 g.
A.
A.
J.
J.
J.
J.
J.
J.
F.
F.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
.1.
J.
J.
J.
J.
J.
J.
J.
J.
A.
J.
New York, Office.
& O.
do
do
& 0.
do
do
& J.
& J.
do
do
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<fe J.
do
do
<fe J.
do
do
& J.
do
& J.
do
do
<& A.
do
do
do
<&A.
do
do
«fe J.
do
London
and
New
York.
<fe J.
New York, Office.
& J.
do
do
<fe J.
do
do
& J.
do
do
& J.
do
do
& J.
do
do
& J.
do
do
<& J.
do
do
<fc J.
do
do
<fe J.
Boston.
<fc J.
New York, Office.
<fe J.
do
do
<fe J.
do
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& J.
do
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do
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do
O ct 14, 1887
O ct. 14, 1887
July 1, 1905
1893
July, 1897
1894
1899 .
July 1, 1908
1898
1898
1891
.Tau., 1902
Jan, 1, 1903
July 1,1919
July 1, 1909
Jan. 1, 1910
Jan. 1, 1910
Jan. 1, 1890
Jan. 1, 1910
July 1, 1920
July 1, 1920
Jan. 1, 1909
July 1, 1910
July 1, 1921
July 1, 1921
Jan. 1, 1921
July 1, 1926
July 1, 1916
July 1, 1914
Jan. 1, 1924
1895
Jan. 1, 1916
8tock and B onds .—Of the common stock, $10,009,701 was held in
the company’s treasury on May 31.1887. making the whole common
stock $41,374,866. Preferred stock has prior right to 7 per cent;
then common 7 per cent ; then preferred 3 per cent; then common 3 :
then both classes share. Dividends since 1875 (prior to the current
year) have been: In 1876, 21a on preferred; in 1877, 3 1« on preferred;
in 1878, 7 on pref. and 5 on com.; in 1879, 7 on pref. and 5 on com.;
in 1880. 7 on pref. and 6 on com.; in 1881, 7 on pref. and 6 on com.; in
1882, 7% on pref. and 7 on com.; in *83 and ’84,7 on com. and 8 on pref.
in 1885, 6 ^ on com. and 7*s on pref.; in 1886, 6 on oom. and 7 on pref
Prices of stock since 1877 have been as follow s: Common in 1878,
3 2 ^ 5 5 % ; in 1879, 49®8®94i3; in 1880. 87is®130; in 1881,117® 136;
In 1882, 124® 150%; in 1883. U.5%®140i8; in l884, 8Ua®124; in 1885,
8438® 115%; in 1886, 104%® 1205s; in 1887 to Sept. 16, I09®127*fe
Pref. in 1878, 59%®79ifl; in 1879, 76^ ® 108; in 1880, 104® 146%; in
1881, 131is® 14713: in 1882, 136® 175; in 1883, 134®157; in 1884,
117®149i3; in 1885, 119%®13978; in 1886, 135® 144; in 1887, to
Sept. 16, incl., 1 3 8 % ® !^ % .
The sinking fund bonds of 1879 are seoured by a deposit of mort.
bonds, on the new roads acquired at the rate of $15,000 per mile, and the
terms under which these are issued were published in V. 29, p. 277.
Of these bonds so far issued, $6,305,000 are 6s and the balance
5s. There are several small issues of bonds in addition to tnose in
the table above, viz.: Beloit & Madison RR., $91,000. 7s, due 1888;
Minnesota Valley RR., $150,000, 7s, due 1908; Plainview, $100,000,
7s, due 1908; Peninsula Railroad (Mich.), $152,000 7s, due 1898.
The $L0,000,000 debenture bonds were issued to pav for the Chicago
St. Paul Minneapolis & Omaha stock; the sinking fund for these bonds
is $200,000 per year from May, 1888, if they can be redeemed at 105.
In June, 1884. the new issue of $6,0u0,000 5 per cent debenture bonds
was authorized, of which $1,966,500 went for the purchase of Blair
roads and the balance to be used for improvements as required.
Any
future mortgage on the property of the company owned at date of these
bonds, shall include them.
The C. <fe N. W. extea. bonds of 1886 are direct bonds of the 0. & N.
W. Company, secured by the deposit in trust of the 1st mort. bonds of
roads constructed or acquired, at the rate of $20,<>Oo per mile.
In addition to bonds in above table there were live bonds in the sink
ing fund amounting to $1,116,500 May 31,1887.
L and G rant .—The lands of the company have been acquired by the
purchase of the Winona <&St. Peter and other roads that have been
consolidated. The Commissioners’ report for 1886-87 showed that the
total consideration for the lands and lots sold in that year amounted to
$687,637. Net cash receipts were $68 9,589. The statement of amounts
secured to be paid to the company by outstanding contracts of sale in
force at the end of the fiscal year snowed a total o f $1,269,702.
TABLE OF LANDS UNSOLD FOR YEARS ENDING M AT 3 1 .
1837.
1885.
1886.
373,819
626,811
574,362
379,299
443,296
420,428
297,708
303,165
299.041
1,050.826
1,373,272
1,293,831
Operations , F inances , &c.—The Chicago & Northwestern Railway
has pursued the policy of extending rapidly its lines in the far West.
The stock had not been much increased until the issue of new stock
for stocks of proprietary roads, and a large nominal surplus had been
rolled up, amounting to about $32.000,000 in May, 1886, of which over
$21,000,000 was charged off in 1887. (See explanation of this in Y.
45, p 160.)
_
The latest annual report issued (1886-87) was in the Chronicle , V.
45, p. 177, showing the following :
Name of grant.
1884.
Minnesota........ 685,577
Michigan.......... 461,847
Wisconsin........ 308,723
Total........... 1,456,147
ROAD AND EQUIPMENT.
Tot. miles oper*d
Locom otives....
Passeng.&c. cars
Freight ca rs....
Allother oars..
1883-84.
3,763
639
449
20,1*>0
435
1884-85.
3,843
672
481
20,103
470
1885-86.
3,948
698
485
20,513
546
OPERATIONS AND FISCAL RESULTS.
1886-87.
4,101
735
507
22,091
558
1886-87.
1883-84.
1884-85.
1885-86.
O perations—
9,709,934
8,403,884
9,140,195
8,623,483
Pass’gers carr’d
Pass’ger mileage 256,386,389 231,090,788 239,150,020 254,709,295
2*29 Cts.
2*38 cts.
2*36 cts.
R’te p.pass.p.m.
2*40 cts.
9,737,312
8,235,127
8,494,239
Fr’ght(tns) mv’d
8,453,994
Fr’ght (tns) m’gel350,173,773 1416,789,205 1466,892,717 1754,598,596
-Rate pr.ton p.m
’1*31
*” cts
1*24 cts.
1*15 cts.
1*19 cts.
s
$
E arnings—
$
$
5,820,151
5,646,150
5,498,111
6,153,071
Passenger..........
17,503,244
19,329,484
16,917,394
Freight...............
17,677,866
1.171.681
1,130,206
1,086,551
Mail, express,«fee
1.189.687
26,321,316
24,279,600
2 3 ,5 0 2 ,0 5 6
Gross earn’s. 2 5 , u 2 0 , o 2 4
$
$
Expenses—
3,227,245
2,951,880
2,939,253
3,590,917
Maint’ce of way
2,048,6
3
2,21*2,289
2,193,224
2,448,297
#
cars, «fee
8,156.221
8.918.681
7,970,502
8,429,121
rransp. & miscel
712,125
702,452
672,621
690.928
T a xes...............
15,070,342
13,859,226
13,793,90?
T otal.............. 15,140,956
11,250,974
10,420,374
9,708,149
Net earnings....
9,879,668
57*25
57*08
58*69
P.c. exp. to earn.
60*51
KAILROAu STOCKS AND BONDS.
1887.]
S eptember ,
IiTYESTOKS’
34
SUPPLEMENT.
[Voli. X L V .
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in tbese Tables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
Par Outstanding
of
Where Payable, and by Stocks—Last
For explanation of column headings, &o., see notes of
Road. Bonds Value.
Cent. Payable
Whom.
on first page of tables.
Dividend.
$100 $31,367,450
Chicago dt Northwestern—Common stock................ 4,101
100 22,323,170
Preferred st’ek (7 p. c. y ’rly, not cumulative)........ 4,101
1,000 12,654,000
Consol, sinking fund M............................................ 776 1865
2.977,500
Madison extension, 1st mort., sinking fund, gold. 126 1871 500 &o.
1,000
1.700,000
....
85
Chic. & Mil., 1st mortgage........................................
560,000
Menominee River, 1st mort., guar...........................
25 1876
Menominee extension, 1st mortgage, g o la ............ 120 1871 500 &©. 2,549,500
500
&e.
12,343,000
1872
Gen cons mort., gold, coup, or reg. ($48,000,000) 1,058
1,592,000
Wine la&St. Peter, 2dgnort., guar, by Chio.&N. W. 137 1870-1 1,000
4,079,500
do
1st M. exten. gld„ land gr., s. f .. 175 1871 100 &o.
1,000
1,350,000
75 1870
Iowa M dland, 1st mort., guar, by Chic. & N. W ..
3.365.000
62 1872 500 &c.
Northwestern Union, 1st mortgage, gold.............
....
200,000
24 1878
Rochester & No. Minnesota, 1st mortgage............
....
601.000
141 1882
Chic. Mil. & N. W., construction bonds..................
....
1,528,000
154 1880
Chicago & Tomah, 1st mort., guar..........................
1,000
1,600,000
80 1880
Milwaukee & Madison. 1st mort., guar..................
1,000 14,665,000
1879
Sink, fd.bds. ( 1st M. as collateral) ($15,000 p. m .)..
1883 1.000&0 10.000,000
S. f. debenture bonds (for C. St. P. M. & O. stock).
1884 l.OOii&o
3,869,000
Debenture bonds of 1909 (for $6,000,000)............
8,199,000
1886 1,000&C
C.& N.W. Exten. bds. ($20,000 per M.) op. & reg.
1,000
1,600,000
64 1884
Ottumwa C.F.& St.P., 1st M., guar.($25,000 p.m.)
1,000
600,000
Des Moines & Minneapolis Rif. 1st mort. Bonds...
58 1882
1,000
720,000
36 1681
Escanaba & Lake Superior RR., 1st m o r t ...........
....
1,007,000
71 1882
Dakota Central RR., 1st mort.................................
2,000,000
....
do
1st M., Southeast Div. (for $2,000,000). 125 1382
1,000
1,500,000
75 1885
North. HI., 1st M. ($20,000 p. m.) guar. C.&N. W.
493,000
Other small issues (see remarks).............................
700,000
70 1861 500 &o.
Cedar Rapids & Missouri River, 1st mort.............
582,000
do
1st mort.............
58 1863 500 &o.
2,332,000
146 1866 500 &C.
129,000
82 1863 500 &C.
Chicago Iowa & Nebraska, mortgage.....................
402.500
....
1877
Maple River 1st mortg............................................
l.o o o
7,725.000
Fremont Elkhom & Mo.Yal.,Consol.bonds .......... 311 1883
INCOME ACCOUNT.
1883-84.
Receipts—
$
Net earnings....
9,879,668
Disbursements—
$
1,568,704
Rentals paid___
Interest on debtt
4,527.235
Dividends..........
2,939,469
Rate on pref___
8
Rate on comm’n
7
Miscellaneous..
83,000
Tot. disb’m’ts.
Balance, surplus
$9,118,408
$761,260
1886-87.
1884-85.
1885-86.
$
$
$
11,250,974
9,708,149 10,420,374
$
$
$
*28,567
.............
5,136.198
*5,064,534 5,536,363
3,441.504
*3,981,348 3,444,504
7
8
7
6
7
6
58,000
58,000
58,000
$9,132,449 $9,033,867
$575,700 $1,381,507
$8,638,702
$2,612,272
* On absorption of Iowa leased lines, rentals ceased and interest and
dividend charges increased,
t Less credit items.
GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.
1884-85.
1885-86.
1886-87.
A.88CIS—
$
$
$
Chic. <&N.W.—Road & equip. 127,053,870 127,101,024
1R,
Other companies
do
35,539,234 36,628,824 5 11
Bonds owned........................
360,242
934,482
'6,082,295
Stocks owned..........................
12,282,159
12,2^2,159 1 12,282.160
Land grant investments.......
1,221,000
714,000
230,000
Bills and accounts receivable
1,890,841
1,5-26,281
1,757,952
Materials, fuel, &c..................
1,808,567
2,000,734
3,000,»78
Cash on hand..........................
3,807,191
2,932.848
4,214,036
Trustees of sinking fu n d ....
1.934.004
4.239,176
4,320.175
Total.................................... $185,897,108 $188,759,528 $176,048,646
Liabilities—
Stock, common........................ $41,374,866 $41,374,866 i$41,374,866
22,325,454 22,325,454 122,325,454
Stock, preferred......................
ÏÏ674.183
11,220,000
11,230,000
Stocks of propriet’ry roads, &o
91,460,500 II 90,511,500 97,384,500
Bonded deb t............................
1,544,221
1,331,600
Divid’ds declared, not yet due
1,331,600
1,934,000
4,239,175
4,320,175
Sinking funds p a id ..................
1,690,680
2,251,206
2,721,369
Current bills, pay-rolls, & o....
113,262
140,762
135,500
Uncollected coupons, &e........
31,044
Rentals of roads in Iow a........
316,814
537.000
37,000
37,000
Bonds unsold, &o............. : ___
275.000
125.000
125.000
Note of Consol. Coal C o ..........
705,060
703,525
1,473,536
Accrued interest not d u e .......
120.000
120.000
Miscellaneous...........................
2,954,246
3.191,071
7 L4.104
Land income account.............
9,762,819
11.144.326 112,994,539
Railroad income account.......
$18o,897,108 $188,759,529 $176,048,646
Total.
* Includes F. E. & M. V. c o d s o Is and Wyoming Central RR. lsts owned
and pledge l as coll, for exten. 4s of 1886, $5,772,000; also, general consob gold bonds, $37,000; consolidated sinking fund bonds, $115,000;
bonds of sundry proprietary roads, $156,295; Iron River Furnace
bonds, $2,000.
t Includes Chic. St. P. M. & O. stock, $10,315,659; F. E. A M. V. RR.
stock, $1,966,500. Also owns C. & N. W. common stock, $10,007,416,
and preferred, $2,284, but these items are included in the amounts given
on other side of the account.
i Including $10,007,416 common and $2,284 preferred stock in com
pany’s treasury.
II Including live bonds in sinking funds, which amounted May 31,1887,
to $1,116.500.
If See remarks in Chronicle regarding these items, p. 177.
—(V. 43. p. 49,117, 1 3 0 , 399; V. 44, p. 343, 621, 713; V. 45, p. 52,
159, 1 7 7 , 340.)
Chicago Sc O hio R iv e r .—Line of road from Sidells, 111., to Olney,
86 miles. This Co. was organized in 1886 as successor of the Danville
Olney & Ohio River, foreclosed in Feb. 1886. An extension to the
Ohio River is projected. Gross earnings in 1885-86, $61,767; net,
$8,133. Earnings in 1884-85, $50,293 gross, and deficit under oper
ating expenses, $2,823. Charles G. Stevens, President, Lowell, Mass.
—(V. 44, p. 21, 289, 308.)
Chicago R o c k Isla n d Sc P acific.—L ine of R oad .—Owns from
Chicago to Council Bluffs, 500 miles; Davenport. Ia., to Atchison, Kan.,
345; Atchison Junction to Leavenworth, Kan., 21-5; Washington, la., to
Knoxville, 77*5 ; South Englewood to South Chicago, 7*5; Wilton to
Muscatine, 12*5; Newton to Munroe, 1 7 ; Des Moines to Indianola and
Winter8et, 4 7 ; Menlo to Guthrie Centre, 14*5 ; Atlantic to Audubon,
24'5; Atlantic to Griswold. 14'7; Avoca to Harlan, l l -8; A vocato Carson, 17-6 ; Mt. Zion to Keosauqua, 4 -5 ; Wilton to Lime Kilns, 5. Leased:
Cameron, Mo., to Kansas City, 54; Bureau Junction to Peoria, 47 miles;
Keokuk to Des Moines, 162. Total operated, April 1 ,1 8 8 7 ,1 ,3 8 4 miles.
Organization— The Chicago & Rock Island RR. was chartered in
Illinois Feb. 7,1851, and opened from Chicago to th Mississippi River
July, 1854. The extension from the Miss, to the Mo. River was built
by the former Mississippi & Missouri RR. of Iowa, which was foreclosed
under mortgage in 1866. The Illinois and Iowa roads were consolidated
August 22,1866, under the present title, and the main line was extended
to Council Bluffs June, 1869. The Iowa Southern & Missouri Northern
was formerly the Chicago & Southwestern, and was foreclosed and pur
3
1%
7
7 g.
7
7
7 g.
7 g.
7
7 g.
8
7 g.
7
6
6
6
5A 6
5
5
4 g.
5
7
6
6
6
5
7
7
7
7
7
6
J. & D. New York, Co.’s Office.
Q .-M .
do
do
Q.—F.
do
do
A. & O.
do
do
J. & J.
do
do
do
do
J. & J.
J. & D.
do
do
J. & D.
do
do
M. & N.
do
do
do
J. & D.
do
A. & O.
do
do
M. & 8.
do
do
M. & S.
do
do
do
M. & N.
do
M. & N.
do
do
do
do
M. & S.
A. & O.
do
do
do
M. & N.
do
do
M. & N.
do
F. & A.
do
do
M. & S.
do
do
F. & A.
do
do
do
I. & J.
do
M. <& 8.
do
do
M. & N.
do
do
M. & S.
do
do
do
do
F. & A.
do
do
F. & A.
do
do
M. & N.
F. & A.
do
do
J. & J.
do
do
A. A O.
do
do
Juno 25, 1887
Sept. 22,1887
Feb. 1, 1915
April 1, 1911
July 1, 1898
July 1, 1906
June 1, 1911
Deo. 1, 1902
Nov. 1, 1907
Deo. 1, 1916
Oct. 1, 1900
June 1, 1917
Sept. 1. 1908
Nov. 1. 1905
Nov. 1, 1905
Sept. 1, 1905
Oct. 1, 1929
May 1, 1933
Nov. 1, 1909
Aug. 15,1926
Mar. 1, 1909
Feb. 1, 1907
July 1, 1901
Sept. 1, 1907
Nov. 1, 1907
Mar. 1, 1910
Aug'. 1, i891
Aug. 1, 1894
May 1, 1916
Aug. 15,1892
July 1, 1897
Oct 1. 1933
chased by this company, and consolidated June. 1880. The presen *
Chic. R. I. & Pacific was a consolidation June 4,1880, with $50,000,000
stock authorized, and a scrip dividend of 100 per cent to the holders of
Chic. R. I. & P. stock. The annua} election occurs in June.
Stock and B onds.—Dividends have been paid as follows since
1876, viz.: in 1877 and 1878, 8 per cent; in 1879, 10; in 1880,
8*a cash and 100 p. c. in stock; in 1881, 1882, 1883, 1884, 1885
and 1886, 7. Range of prices of stock was as follows since 1876, viz.: in
1877 82*3® 105*3; in 1878, 983s®122; in 1879, 119® 150*3! in 1880,
to July, 149®204; July to Dec. (new stock) 100*3® 143 ; in 1881,129
® 14858; in 1882, 122S140**; in 1883,116*a®127*4: in 1884, 100*4®
126%; in 1885.105*132; in 1886, 120*s®131; in 1887, to Sept. 16,
inclusive, 121*4 ®1407s.
The road from Minneapolis west to the June, with Bur. C. R. & N. line
(205 miles) is built under the charter of the Wisconsin Minn. & Pao. Com
pany issued by the old Territorial Legislature. The W. M. & P. Co. issues
its bonds running for 50 years, bearing 6 per cent interest, at the rate of
$20,000 per mile, of which $5,000 per mile is for equipment. These
bonds are deposited by Rock Island with the United States Trust Co.,
and in lieu of them the Rook Island issues its own bonds for $15,000 per
mile of road, but bearing 5 per cent. The difference in interest as it accu
mulates is to be invested in Rock Island bonds; these bonds may be
redeemed at 1<>5 after July 1, 1894. The St. Joseph & Iowa RR., Altamont, Mo., to Rushville, Mo., 64 miles, was completed Jan., 1886, and
$960,000 in similar collateral trust bonds issued.
The authorized issue in 1886 of similar collateral trust bonds for $10,000,000 (at $15,000 per mile single track, $5,000 for equipment and
$7,500 for second track), was for the extension of some 7u0 miles under
the name of the Chicago Kansas & Nebraska Railroad.
Stockholders of Sept. 29,1887, had the right to take at par 10 per
cent of their holdings in new stock—the total issue, $4,196,000, to be
used for extensions and improvements.
The fiscal year ends March 31. Annual report for 1886-7 in V. 44, p.
712, also article on p. 731. The mileage, earnings, &c., have been as
follows :
1883-84.
1881-85.
1885-86. 1886-87.
Miles owned & oper..
1,384
1,384
1,384
1,384
Darnings—
$
$
$
$
Passenger................
3,313,448
3,023,884
3,127,258 3,097,916
8,056,316
8,144,142 7,713.659 8,637,453
F reight...................
Mail.expr’s, r’nts.&o
1,165,750
1,038,885
1,163,*31 1,183,681
Total gross earns.
Operating expenses
12,535,514 12,206,911 12,004,348 12.319,050
7,298,002
7,160,324
7,166,893
7,504,809
Net earnings..........
P.e.of op.ex.to earn.
5,237,512
58'22
5,046,587 4,837,455
4,814,241
58'65
59 70
60 92
income account.
1883-4.
1884-5.
1885 6.
1886-7.
Receipts—
$
$
$
$
Net earnings.............
5,237,512 5,046,587
4,837,455 4,814,240
From land departm’t
470.000
330.000
310.000
230,000
Total income.......
5,707,512 5,376,587
5,147,455 5,044,240
Disbursements—
$
$
$
$
Rent leased roads ..
301,121
301,121
301,995
303,762
Interest on d eb t.......
1,002,350 1,094,750
1,213,250 1,320,667
Dividends..................
2,937,186 2,937,186 2,937,186 2,937,186
Rate per cent............
7
7
7
7
Add’n and imp. aco’t.
1,200,000
750,000
463,000
......
Miscellaneous.........
177,784
196,344
164,784
170,922
Total disbursements. 5.618,441 5,279,401
5,080,215 4,732,537
Balance, surplus....
89,071
97,186
67,240
311,703
—(Y. 43, p. 308, 766; V. 44. p. 60, 91, 308, 335, 495, 526, 7 1 2 , 713,
731, 752; Y. 45, p. 55, 166, 342.)
Chicago Sc St. L o u is.—Chicago to Pekin, 111, 150 miles, and branch
2 miles. This is the title of the company organized in March, 1885, as
successor of the Chicago St. Louis & Western, which had been formed
in Jan., 1884, as successor of the Chicago Pekin <feSouthwestern. Stock,
$3,000,000. Bonds offered for sale in New York July, 1885, b y R . P.
Flower & Co. Gross earnings in 1885, $292,798; net, $91,633; mt. on
bonds, $90,000. (V. 43, p. 773.)
Chicago St. L o u is Sc P ittsb u rg .—The mileage is as follows :
Columbus, O., to Indianapolis, Ind., 187 miles; branches—Bradford June.,
0 .,to Chicago, 111., 231 in.; Richmond, Ind., to Anoka June., Ind., 102 m .;
Logansport, Ind., to Illinois State Line, 61 m.; Indianapolis to Kokomo
(operated jointly with Wab. St. L. & Pac.) 54 m.; total operated, 635 m.
This is the reorganization (March 20, 1883,) of the Columbus Chicago
& Indiana Central road, sold in foreclosure on Jan. 10, 1883. The
C. C. & I. C. company was formed Feb. 12,1868, by consolidation of
the Col. & Ind. Cen. and Chic. & Great East, railroad companies. After
default in 1875 and much litigation, a plan of settlement with the
Penna. RR. was approved by a minority of bondholders in 1882 and
carried out. There was held by the Penna. RR. and the Penn. Co. a large
amount of the 1st consol, mortgage and the stocks. The preferred
stock is entitled to 6 per cent yearly if earned, and is cumulative.
From Jan. 1 to July 31, 1887 (7 months), gross earnings were $3,172,116, against $2,568,260 in 1886; net. $762,713, against $274,539.
The annual report o f this com pany fo r the year 1886 was pub
lished in the Ch ronicle , Y. 44, p. 369, to w hich reference should be m ade.
KAILKOAD
S e p t e m b e r , 1887.]
STOCKS AN D
BONDS.
35
Subscriber» w ill confer a great favor by giving Immediate notice o f any error discovered in these Table«.
DESCRIPTION.
on first page of tables.
INTEREST OR DIVIDENDS.
Bonds—Prinoi'
Miles Date Size, or
Amount Rate per
pal,When Due»
of
of
par
When
and by Stocks—Last
Road. Bonds Value. Outstanding Cent. Pay’ble Where Payable
Whom.
Dividend.
Chicago <&Northwestern—(Continued,)—
Fremont Rlkborn & Mo. Val., equipment bonds..
M o.V& Blair RR.Br’ge, 1st, red’ble aft.’93___
....
Sioux City & Pacific, 1st mortgage..................
102
do
2d mort. (Gov’t subsidy)
102
do
pref. stock.......................
Chicago <t Ohio River.—1st mort..........................
....
Income bonds...................................................... ...... . . . .
Chicago Rock IslandsPas.—St’ck (for$50,000,000) 1,384
1st mortgage, coup, or règ.....................................
636
Chic.& Soutnw., IstM.g. (g’d in cur. by C.R.I.&P.) 271
Exten. and collât, bonds ($20,000 p.m.) cp. or reg. . . . .
Chicago & St. Louis—1st mortg................................. 150
Chicago St. Louis <&Piltsb.—Common stock.............
b35
Preferred stock (6 per cent cumulative)............... 635
1st mortgage, consol, gold ($22,000,000) .............. 580
1st M. Chic. & G’t East. (Chic, to Logansport).... 117
do Col. & Indianapolis Central........................ 208
93
do Union & Logansp’t (U’n City to Logansp’t)
do Cinn. & Chic. Air Line(Richm’d to Logans.) 107
2d M. Col. & Indianapolis Central................ ........
208
Chic. St. Paul <&Kan City—1st, g’ld, $20.000 p. m. 142
Chic. St. Paul Min'polis <&Omaha—Common stock.. l,3b5
Preferred stock.......................................................... 1,365
Consol, mortgage ($15,000 per mile)......................
....
Chic. St. Paul & Minn., 1st mort., gold, coup........ 177
North Wisconsin, 1st mortgage............................... 120
St. P. & Sioux City, mort., gold, for $7,000,000.... 605
St. Paul Stillwater & Taylors’ Falls, 1st mort.......
23
12
Hudson & River Falls. 1st mort..............................
Minneapolis East RR., 1st mort., guaranteed....... . . . .
Chicago & West. Indiana—1st mort, (sinking fund). - - - General mortgage, gold, sinking fund..................
$360,000
1.000,0001,628.000
1,628,320
....
....
169.000
1886
500,000
1886
750,000
....
100 41,960,000
1877 l,000&c 12,100,000
1869 100 &C.
5.000,000
1884
1,000 12,960,000
1885
1,000
1,500,000
....
100
8,022,441
....
100 17.479,850
1883
1,000 13,442,000
....
....
223,000
1864 1,000
2,631,000
1865
....
715,000
....
....
108,500
1864
....
780,000
1886
1,000
2,800,' 00
....
100 18,559,626
100 11,259,933
1880
1.000 12,250,292
1878 500 &c.
3,000,000
1880
1,000
800,000
1879
1,000
6,080,000
1878
....
334,800
1878
....
125.000
...
1879
75,000
1879
1,000
2,445,000
1882
1.000 6.396.6*6
1883
1868
1868
$ ....
....
500&C.
500&C.
6
6
6
6
31«
6
6
1%
6
7
5
6
1
1884.
1883.
1885.
1886. 1
Miles of r’d operated
635
635
635
635
Miles operated........
Operations—
Earnings—
Passengers carried..
1,186,779
1,228,701
1,061,091
1,085,448 Passenger......... .
Passenger mileage . 48,146,452 48,891.744 46,840,896 44,970,677 F reight....................
Rate $ pass. $ mile
2*32 cts.
2-42 cts.
2-21 cts.
2-30 cts. Mail, express, & o....
FFght (tons) carried
2, i 17,062
2,782,033
3,031,595
3,075,385
Fr’ght (t’ns) mileage 526/622,269 484,716,894 612,653,872 587,723,362
Tot. gross earnings
Ave. rate $ ton $ m.
0-60 cts.
0 72 cts.
0-52 cts
0 -59 cts
Oper’g exp. & txs.
Earnings—
$
$
$
$
Passenger.................
1,163,407
1,134,689
1,036,077
1,036,165 Net earnings............
Freight......................
3,781,107 2,902,433
3,159,887
3,448,447 P.o. of op. ex. to earn.
Mail, express, &o___
349,406
359,718
3 7 1,632
357,704
5,293,920
4,335,964
4,396,840
3,602,213
4,567,596
3,807,645
Net earnings.............
P.o.of op.ex.to earns.
$957,956
81-90
$794,627
81-93
$759,951
83-36
INCOME ACCOUNT.
Receipts—
Net earnings..........
Interest..................
Other receipts.......
1883.
$957,956
26,720
297
1884.
$794,627
1,972
78,073
1885.
$759,951
Total income___
Disbursements—
Rentals p a id .......
Interest on debt..
Net C. C. & I. C. for
3 mos..................
Miscellaneous.......
$984,973
$874,672
$759,951
$15.918
663,363
$21,224
1,079,602
$21,224
1,079,241
4,842,316
3,966,300
Jan. 1, 1923
Jan. 1. 1898
Jan. 1, 1898
Oct. 5, 1886
May 1, 1916
May 1, 1916Aug, 1, 1887
July 1, 1917
Nov., 1899
July 1, 1934
Mar. 1, 1915
5 g- A. & O. N. Y., Union Trust Co. Oct. 1, 1932
7
Various
1893 & ’95
7
J. & J.
Nov., 1904
7
A. & O.
Dec.. 1905
7
F. & A.
Aug. 1, 1890
7
M. & N.
Nov., 1904
5 g. J. & J. N.Y., R. T. Wilson & Co. July 1,1936
3
J. & J.
New York, Office
July 20, 1887
6
J. & D.
June 1, 1930
6 g- M. & N.
May 1, 1918
6
J. & J.
Jan. 1, 1930
do
do
6 g- A. & O.
April 1, 1919
7
J. & J.
do
do
Jan. 1, 1908
8
J. & J.
do
do
July 1, 1908
7
J. & J.
do
do
Jan. 1, 1909
6 g. M. & N. N. Y., Drexel, M. & Co. Nov. I, 1919
6 e. Q . - M .
do
do
Deo. 1 1932
OPERATIONS AND FISCAL RESULTS.
Total gross earns
Op. e&pB. and taxes.
New York, Co.’s Office.
J. & J.
J. & J.
J. & J. U.S. Treas., at maturitv
A. & 0. New York. Co.’s Office.
M. & N.
M. & N.
Q.—F. New York, Co.’s Offir.«
J. & J.
M. & N.
J. & J.
M. & S.
Receipts—
Net earnings............
Net from land grants
$876,016 Other receipts..........
81-91
Total in com e....
1886.
Disbursem ents—
$876,015 Rentals paid.............
Interest bn debt.......
Div. ou pref. stock..
Rate of dividend. . . .
$876,015 Loss on prop, roads.
FISCAL RESULTS.
1883.
1,280
$
1,470,558
3,843,948
200,778
1884.
1,318
$
1,430,711
4,132,530
221,690
1885.
1,340
$
1,305,515
4,255,398
253,897
1886.
1,365
$
1,413,218
4,466,734
273,315
5,515,284
3,623,827
5,784,931
4,007,022
5,814,810
3,721,151
6,153,267
3,848,575
1,891,457
65-70
1,777,909
69-26
2,093,659
63-99
2,304,692
62-54
INCOME ACCOUNT
1883.
$
1,891,457
547,777
153,623
1884.
$
1,777,909
651,125
212,221
1885.
$
2,093,659
721,995
33,235
1886.
$
2,304,692
74L065
73,959
2,592,857
$
35,564
1,222,371
770,476
(7)
12,356
2,641,255
$
49,174
1,320,146
787,976
(7)
13,065
2,848,889
$
62,982
1,334,324
675,408
(6)
12,524
3,119,716
$
117,009
1,337,956
675,408
(6)
9/624
$21,224
Tot. disbursem’ts 2,040.767
2,170,361
2,035,238
2,139,997
1,074,121 Balance
surplus.......
552,090
470,894
763,651
979,719
-(V . 43, p. 244, 502; V. 44, p. 184, 263, 4 9 3 .)
120,633
17,565
95,789
Chicago Sc W e ste rn In d ia n a .—Owns from Dolton and Ham*
Total disb’rsm’ts
$799,914 $1,100,826 $1,118,030 $1,191,134 mond, 111., to Chicago, with a belt railroad and branches, with ware
houses, elevator, &c., 48 miles of roads and 132 miles of track in all
Balance................. sur.$185,059 def.$226,154 def.$35S,079 def $315,119 including 2d, 3d, 4th and siding traok (of which 51 miles were leased to
—(V. 44, p. 3 6 9 , 433, 5 2 5 . 526, 653; Y. 45, p. 25, 259.)
the Belt R’y of Chicago), ana about 400 acres of real estate. This
C hicago St. P a u l <fc K a n sa s C ity.—(See Map o f Minn, a North company leases its road for right of way into Chicago and terminal
western.)—Des Moines,la., to Oelweiu, la., 132 miles; branches, Valeria facilities therein to the Wabash, the Gr. Trunk of Canada, the Chicago
to coal mines and Wilsons to Cedar Falls, 10 miles ; total, 142 miles ; & East. Illinois, the Chic. & Atl. and Louisv. New Albany & Chicago
under construction, Des Moine3 to St. Joseph, 155 miles ; at Oelweiu, roads; the annual rentals stipulated exceed the interest charg eoonsiaconnects with the Minn. & Northwestern, and has a traffic contract, with erably. The stock is $5,000,000 and bonds are limited to $10,500,000;
it. The Wise.la. & Nebr. RR. was purchased in Julv, 1886, for $20,000 the bonds are liable to be redeene-t at any time at 105 by a sinking
per mile in bonds and $25,000 per mile iu stock. Bonds are authorized fund, which is provided for by increased rentals to be paid for that
at the rate of $20,000 per mile on road and $5,000 per mile for termin purpose. See annual report V. 44, p. 780. In 1886 revenue from
als in cities and for equipment ; also, $8,000 per mile additional foi rentals, etc., was $700,928; interest,etc.,$534,784; surplus, $166,144.
double trnck. Capital stock ($25,00 » per mile), $3,500,000. Gross earn —(V. 43, p. 2 2 ; V. 44, p. 751, 78 0 .)
ings for six months from July 1,1886, on 115 miles were $138,965 ; net,
C hicago Sc W e s t M ic h ig a n .—Owns from Lacrosse, Indiana, to
$12,523; payment from old company, $25,OuO; surplus over interest Pentwater, Mich., 209 miles; branches—Holland Junction to Allegan,
charge, $10,023. R. T. Wilson. New York, President.—(V. 43, p. 72: 23 miles; Holland to White Cloud, 70 miles; Fruitport to Muskegon,
Y. 44, 627.)
10 miles; Kirk’s Junction to Piokand’s Junction, 3 miles; Muskegon
Chicago St. P a u l M in n ea p o lis & O m a h a .—(See map Chicago to Port Sherman, 6 miles; Woodville to Muskegon River, 17 miles:
& Northwestern.) Mileage: Eastern Div.—Eiroy to St. Paul, 196 miles; Mears to Hart, 3 miles; B. R. Junction to Big Rapids, 51 miles; White
River Falls Branch, 25 miles; Stillwater Branch, 4 miles; South Stillwater River Junction to Baldwin, 20 miles; total onerated, 413 miles. In
Branch 4 miles; Eau Claire Branch, 3 miles: Neillsville Branch, 14 miles; 1887 le a s ^ to Chicago & Ind. Coal RR., about"18 miles—La Crosse to
St. Paul to Minneapolis, 10 miles; total, 256 miles. Northern Division— New Buffalo.
North Wisconsin Junction to Bayfield, 178 miles ; Ashland Junction to
Organized as successors of Chicago & Mich. Lake Shore Jan. 1,1879, and
Ashland, 4 miles; Ashland Shore line, 1 mile; Eau Claire to Chicago consolidated in Sept., 1881, with the Grand Haven road, 57 miles,
Junction, 81 miles; Superior Junction to Duluth, 73 miles: total, Muskegon to Allegan, and the Grand Rapids Newaygo & Lake Shore, 46
338 miles. St. Paul & Sioux City D ivision-St. Paul to Sioux City, 269 miles, from Grand Rapids to White Cloud.
miles; Minneapolis to Merriam Junction, 27 miles; Lake Crystal to El
There are also $24,000 outstanding of Grand Rapids Newaygo & L.
more, 44 miles; Heron Lake to Pipestone 55 miles; Sioux Falls Junction S. 2d Div. bonds.
to Salem, 98 miles; Luverne to Doon, 28 miles; total, 521 miles.
Earnings, &c., have been as follow s:
Nebraska Div.—Covington to Omaha, 126 miles; Coburn June, to Ponca,
1883.
1884.
1885.
1886.
16 miles ; Missouri River transfer, 2 miles; Norfolk Branch to Emerson,
$
$
46 miles; Wakefield to Hartington, 34 miles; Wayne to Randolph, 22 Total gross earnings............ 1,550,098
1,469,667
1,297,301
1,395,979
miles; total, 245 miles. Total owned, 1,360 miles. Proprietary road, 5
Receipts—
miles. Total of all, 1,365 miles. This was a consolidation July, 1880, of Net earnings........................ 364,874
468,977
348,788
370,482
the Chicago St. Paul & Minneapolis (formerly West Wisconsin), the North Other receipts.....................
7,559
2,217
4,072
9,261
Wisconsin, and the St. Paul & Sioux City. The St. Paul & Sioux City was
a consolidation, in August, 1879, of the St. Paul & Sioux City and the
Total income.................. 372,433
471,194
352,860
379,743
Sioux City & St. Paul, forming a main line from St. Paul to Sioux City.
Disbursements—
$
$
$
$
270 miles. The St. Paul Stillwater & Taylors Falls was consolidated Interest on deb t.................. 217,024
222,085
224,080
225,024
with this company ; also the Worthington Sioux Falls & Iowa and Cov Dividends.............................. 184,506
215,257
123,004
153,755
ington & Black Hills.
Preferred stock has a prior right to non-cumulative dividend of 7 per
Total disbursements.... 401,530
437,342
347,084
378,779
cent from net earnings ; but common is never to receive more than is Balance.............................. def. 29,097 sur.33,852 sur. 5,776
964
paid on preferred. The Chic. St. Paul & Minneapolis 1st mort, is a 2d
on the lands; the land mort, a 2d on road; but no foreclosure can be —(Y. 44, p. 525.)
had except by default on 1st mortgage.
C incinnati H a m ilto n Sc D a y to n .—Owns from Cincinnati, O.,
In November, 1882, a controlling interest in the stock was purchased to Dayton, O., 60 miles; leased—Dayton & Michigan, Dayton to
for the Chicago & Northwestern Railway by the acquisition of 93,200 Toledo, 142 miles; Cincinnati Hamilton & Indianapolis, Hamilton to
shares of common at an average price of 48-40, and 53,800 shares of Indianapolis, 99 miles ; Cincinnati Richmond ¿ Chicago, Hamilton, O.,
preferred at an average of 104-04—the total cost being $10,503,959, to Indiana State line (and leased road), 44 miles; McComb Toledo &
which stock is held as an asset of the Chic. & Northwestern Company.
D., 9 miles : total operated, 351 miles ; each lease reported separately.
Report for 1886 was in C h r o n i c l e , V. 44, p. 493. The land sales a
A proposal in 1886 to issue pref. stock was abandoned, but renewed
1886 were 194,665 acres fox $1,562 803, including lots; land f nntracts in 1887, and authority to issue $10,000,000 was voted in June ; in Jan.
and notes on hard Deo. i i 1P86- $3,093,892; lands;n i/ * «ed/of, 1887, the stockholders voted to issue $2,000,000 bonds] a ad $500,009
647,197 acres. E a r r i r /^ v
« '*
ollows:
common stoex.
INVESTORS’
SUPPLEMENT
[V o l . XLV.
RAILROAD STOCKS
September, 1887.1
AND
37
BONDS.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f an y error discovered, in these Tables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
pal, When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
For explanation of column headings, &c., see notes of
of
Par Outstanding
Dividend.
Whom.
on first page of tables.
Road. Bonds Value.
Cent. Payable
Chicago <6 West Michigan—Stock, n e w .....................
1st mortgage, New Buff, to St. J o.........................
Gr. Rap. Newaygo & Lake Sh., 1st mort. coup___
Cincinnati Hamilton <t Dayton—Bloats......................
Preferred stock..........................................................
Consol, mort. ($996,000 are 7s) sink, fund 1 p. c
Mortgage bonds, gold ..............................................
Cin. Rain. & I. (Junction) RR., 1st mort., guar—
Cincinnati Indianap. St. Louis <6 Ohicago—Stock..
Ind. & Cin. of 1858,1st mort..................................
Indianapolis Cin. & Laf. m ortgage........................
Cin. & Ind., 1st mortgage..................................... .
do
2d M., guar., and funded coupons—
Gen. 1st mort. gold sink, fund (for $10,006,000)..
Consol, mort...............................................................
Cincinnati Lafayette & Chicago, 1st mort., gold ..
Cinn. Jackson <6 Mackinaw—1st, consol, m., g ........
Cincinnati Lebanon <&North.—1st m. (for $200,000»
Cincinnati <6 Muskingum Valley—1st mortgage---Cin. Richmond <&Ohic.—1st mort., guar. C. H. &D..
Cin. Richmond <£•Ft. W.— 1st mort., gold, guar.......
Cincinnati Sandusky dt Cleveland—Stock................
Preferred stock......................................................... .
Mortgage bonds, Sandusky, Dayton & Cincinnati
2d mortg. Cine., Sandusky & Cleve.........................
Cincinnati <6 Springfield—1st mortgage, guar.. . . . .
2d mortgage.......................................................... .
Cincinnati Wabash <£ Michigan—Stock ($3,000,000)
Cincinnati Washington dk Balt.—Common stock ....
1st mort. gold (the 4^8 are guar, by B. & 6 i ........
413
127
36
413
354
354
60
....
98
411
95
151
20
20
All.
175
56
263
37
148
336
36
91
190
190
....
....
43
48
165
281
281
1809
1871
1881
1875
1887
1873
1858
1867
1862
1867
1836
1880
1871
1886
1886
1870
1866
1871
....
.,
1866
1867
1871
1872
....
....
1883
Boston.
Aug. 15, 1887
F. & A.
1$ ....
$6,150,200
M. & S. Boat.. Treasurer’s offloe. Sept. 1889
1.000
480.000
8
1,000
576,000
J. & J. N. Y. Union Trust Co. July 1, 1891
8
5
Deo. 1.1921
1,000
2,794,000
J. & D.
100
Q —F. N. Y., Winslow L. & Co. May 1, 1887
2
4,000,000
April 1., 1887
1
do
do
100
1,000,000
Q.—F.
Got.. 1905
1,000
2,894,000
5, 6, 7 A. & O.
do
do
1937
2,000,000
do
do
1,000
4*3 J. & J.
Jan.. 1903
J. & J.
do
do
1,800,000
7
1,000
Sept.
15. 1887
Q.—M.
Treasurer’s
Office.
100 10,000,000
1Ì4
A. & O. N. Y., Drexel, M. & Co.
Oct., 1888
1,151,000
500 &c.
7
Feb.,
1897
F.
&
A.
464,000
7
do
do
1,000
Deo., 1892
317,000
7
J. & D.
do
do
1,000
Jan.,
1892
J. & J
7
do
do
1.000
864,750
5,019,000
1000 &c
4 g. Q.—F. N. Y., Central Trust Co. Aug. 1,1936
M. & N. N. Y., Drexel, M. & Co. May 1, 1920
6
1,000
857,000
Moh., 1901
do
do
1,000
948,000
7 g. M. & 8.
1,000
2,600,000
5 g. J. & D. N.Y., Central Trust Co. Deo. 1. 1936
1906
J. & J. Cinn., 4th Nat’l Bank.
5
1,000
100,000
7
J. * J. Jan.,’86, cp.paid inDeo. Jan., 1901
1,500.000
1,000
3
Feb. 5, 1833
3,000,000
100
J. & J. N.Y., Winslow, L. * Co. July, 1895
7
560,000
1,000
1,000
1.800,000
7 g. J. & D. N.Y., Winslow, L. & Co. June, 1921
Boston, Office.
May 1, 1884
2
M. St N.
4,003,330
50
M. & N.
do
do
May 2, 1887
3
50
428,850
F. & A. Boston, Nat. Revere Bk. Aug. 1, 1900
6
538,000
Boston,
Office.
J.
&
D.
Deo.
1, 1890
7
1.072,300
A. & O. N. Y., U. S. Trust Co. April 1, 1901
7
1,000
2,000,000
do
do
1902
J.
&
J.
1,000
651,000
7
....
2,043,100
....
....
....
5,811,100
100
....
100 12,893,200
7,676,000 41flg& 6g M. & N. N.Y.,Farm’s’ L.&l'r. Co. Nov. 1, 1931
1,000
In June, 1887, a controlling interest in the stock of the Terre Haute &
Indianapolis RR. was purchased; the stockholders voted to c<instructor
lease a line from Hamilton to Middletown, O., and issue $500,000 of 4*2
per cent bonds; also to authorize the $10,000,"00 pref. stock (see V. 44,
p. 808). The failure of H. S. Ives & C o , in August, 1887, placed the
affairs of this company in a complicated situation. The securities in its
treasury had b. en used largely fur loans, and preferred stock to an un
known amount, had been issued and pledged by Ives & Co. The assets
o f Ives & Co. were given in V. 45, p. ..33, showing $4,689,6u0 of prefen ed Cinn. Ham. & Dayton, stock and $4,665,904,of common. The
Dayton Ft. Wayne & Chicago road was organized by consolidation and
was to be leased to C. H. & D.; the stock of the Dayton <fc Mich, road was
told to David Sinton and Thos.J. Emery. No report for 1886-7 has
been issued. Income account in the fiscal years ending March 31 was
as follows, including all the roads operated:
1883-84.
1884-85.
1885-86.
$2,865,933
$2,8o6,559
Gross receipts.................................$3,042,461
$1,841,271
$1,813,899
Operating expenses and taxes.. $2,083,705
236,940
236,910
C. H. & D. div., cum. and pref..
236,485
503,266
490,718
Interest..........................................
509,840
132,017
132,020
D. & M. dividends........................
132,015
10,650
Miscellaneous...............................
6,185
$2,968,227
Total.
$2,724,144
$2,673,577
Net surplus............................
$74,232
$141,789
$182,982
—(V.43,p. 131, 334, 487, 671, 718; V. 44, p. 59, 90,148, 211,439, 526,
713, 751, 807 ; V. 45, p. 53, 210, 239, 333, 369.)
C in cin n ati In d ia n a p o lis St. L o u is & C h icago.—(See M ap.)—
Owns from Cin. to Lafayette., Ind., 174 miles; Lawrenceburg branch,
3 miles; Harrison branch. 7 miles; Fairland F. & M. Road, 38 miles;
and Cincinnati Lafayette & Chicago (leased), 76 miles; Vernon Green.
& Rush., 44 miles; Kankakee & Seneca (one-half owned), 43 miles; Col.
Hope & Green., 26 miles; total operated, 411 miles.
This company was formerly the Indianapolis Cin. & Laf., which road
was sold in foreclosure Feb. 2, 1880, and this company organized.
The new 4 per cent mortgage for $10,000,000 will retire all other
bonds as they fall due, and leave a surplus of $1,000,000 for other pur
poses as needed. There are yet outstanding $33,500 Cin. & Ind. fund,
ooup. 7 p ot. bonds, due Sept., 1890. In Maroh, 1887, stookholdei s of
record, on the 18th of that month had the privilege of subscribing to
$3,000,000 new stock at 65. (V. 44, p. 275.)
In the year 1886-7 gross earnings were $2,752,^92, against $2,526,934 in l e 85-6; net, $1,111,281, against $1,046,443.
The annual report for the fiscal year endiug June 30,1886, published
in the Chronicle , V. 43, p. 430, had the following:
INCOME ACCOUNT.
1882-83.
$
Gross earnings...........
2,617,457
Interest on bonds.......
D ividends...................
Rate of dividends . . . .
Miscellaneous.............
621,159
315,000
(41« p. 0.)
2,342
Net earnings...............
973,652
1883-84.
$
2,408;589
1884-85
$
1885-86.
$
2,5957859
2,526,934
626,233
624,482
................................. .
............
............
5,254
29,045
624.234
210,000
(3 p. c )
18,844
903,190
935,678
980,872
in 1851 and opened in 1857. Sold under foreclosure Oct. 17,1863, and
reorganized as Cincinnati* Zanesville March 11,1864. Sold again Deo.
3. ’ 69, and reorganized as at present Jan., ’ 70. Road was leased for 99
years from Jan. 1, ’ 73, to P. C. & St. L., but on Deo. 31, ’ 85, the C. <&M.
V. Co. resumed possession. Gross earnings in 1886, $191,132; net,
$74,511; interest, $105,000; deficit, $47,098. Total amount due lessee
Dec. 31, 1886, $1,081,013. Capital stock, $3,997,320. The coupon
of Jan. 1,1886, was paid in Nov., 1886.
Cincinnati N e w Orleans Sc Texas Pacific.—(See Map).—This is
the company organized under the laws of Ohio Oct. 8 , 1881, gj operate
the Cincinnati Southern, and 51 per cent of the stock is held by the Eng
lish company, the Alabama New Orleans & Texas Pacific Junction Co.,
Limited. The Cincinnati Southern road extends from Cincinnati to
Chattanooga, Tenn., 336 miles. The Ala. N. O. & T. P. also controls the
Vicks. & Mer., 142 miles; Vicks. Shrev. & Pao., 189 miles; S. O. & No.
East., 196 miles; and Spanish Fort RR., 13 miles. See title In this
S u p p l e m e n t . The rental due the Cincinnati Southern is 8812,000 per
year till 1886, then $912,000 till 1891. $1,012,000 till 1896. $1,102,000
till 1901, and $1,262,000 till L906. The annual report for 1836 in V.
44, p. 243, gave the following income account for three years:
1884.
1885.
1886.
$2,681,546
$2,882,172
Total earnings............................$2,658,184
W01king expenses and taxes... 1,836 974
1,710,535
1,833,579
Net earnings for the year...
Rental.............................. ............
$821,210
812,000
$ 9 7 i,0 il
812,000
$1,048,593
834.043
Surplus revenue.........................
$9,210
$159,011
$214,549
-(V. 43, p. 125, 210, 774; V. 41, p. 21.)
C incinnati R ic h m o n d Sc C h icago.—Owns from Hamilton, O.,
to Indiana State Line, 37 miles; leased, Richmond, Ind., to Ohio State
Line, 7 miles; total operated, 44 miles. Reorganized May 3. 1366, and
leased in perpetuity from Feb., 1869, to Cinn. Ham. & Dayton Co., this
Co. to receive all surplus after expenses and bond interest. A 2d mort.
of $65,000 due 1889 is owned by 0. H. to D Capital stock, $332,600.
C in cin n ati R ic h m o n d Sc P o rt W a y n e .—Owns from Rich
mond, Ind., to Adams, Ind., 86 miles; leased, 5 miles of Pittsburg
Fort Wayne & Chicago; total operated, 91 miles. Leased for 99 years
to Grand Rapids & Indiana, the rental being net earnings; in
terest is guaranteed by the lessees and by the Pennsylvania Company
and Cincinnati Hamilton & Dayton Company, jointly. Gross earnings
in 1885, $383,385; net, $103,546; loss to guarantors, $68,116. Gross
in 1886, $225,690; loss to guarantors, $50,873. Capital stock, $1,709,192. Total advances by guarantors, $988,466.
C in cin n ati San du sky Sc C leveland.—Owns from Sandusky,
Ohio, to Dayton, Ohio, 154 miles; branch, Carey to Findlay, 16 miles:
leased, Columbus Springfield & Cincinnati, 44 miles; total operated, 214
miles, less the division between Springfield & Dayton, 24 miles, which is
leased to the Clev. Col. Cinn. & ludianapolis. The preferred stock
has a lien by deposit of old bonds in trust. In Anril, 1831, a lease
was made to the Indiana Bloomington & Western, but litigation ensued,
and the L B. & W went to foreclosure. Afterward it was reported
th <t after the sale the two companies would be consolidated. See V. 43,
p. 458
(V. 43, p. 49, 244, 309, 398, 45 s; V. 44, p. 90.1
C incinnati Sc Springfield.—Operates from Cincinnati. Ohio, to
Springfield, Ohio, 80 miles, of which 32 miles were leased from other
companies. The whole is leased and operated by Cleveland Col. Cin.
<fc Ind. Co., giving them a line into Cincinnati, and depot acoommoda*
tlon. Lessees apply any excess over rentals to C. & S. stock. Interest
is guaranteed on the first mortgage, one-half by the lessees aud one-half
by L. Shore & Mich. Southern. Stock is $1,100,000. To January. 1887,
tne C. C. C. & I. had a ivanced $2,854,315. Gross in 1835, $336,104;
net, $193,562 ; rentals. $167,322 ; interest, $185,570 ; other payments,
$15,500; total, $368,392; deficit, $174,829 Gross earnings in 1886,
$1,130,324; net, $116,001.
C incinnati W a b a sh Sc M ich ig a n R a ilw a y .—Owns from
Benton Harbor, Mich., to Anderson, IndT, 165 miles. Sold Nov. 5, 1879;
for account of bondholders. New company organized April, 1880,
Total stock authorized, $3,000,000. Gross earniags for 1886, $339,139;
net, $98,404. Gross in 1385, $321,790; net, $o8,655. J. H. Wade,
President, Cleveland, Ohio. —(V. 45, o. 341.)
C in cin n ati W a sh in g to n Sc B a ltim o r e .—(See Map o f Balt. <6
Ohio.)—Cincinnati, O., to Belpre, O., 193 miles; branches—Marietta to
Belpre, 11 miles; Portsmouth to Hamden, 55 m.; Blanohester to Millsboro, 22 m.; total, 281 m.
_
The Marietta & Cincinnati Co. was sold in foreclosure Deo. 9, 1882,
and re-organization was made Feb. 7, 1883, under this name.
Prior lien bonds wore issued for receiver’s certificates. Of the first
mortgage bonds, $1,250,000 were issued for the Cincinnati & Baltimore
RR. stock, and bear 6 per cent, the balance bear 4 ^ per oent and are
guaranteed by the Balt. & Ohio RR. Co. The income bondholders have
voting power. The annual report for 1886 had the follow ing:
Barmngs from—
1884.
1885.
1886.
Passengers ..................................... $536,198 $461,412
$533,797
Freigut
1,079,8611,019,277 1,242,693
238,249
224,581
233,916
Mail; express, &o............................
Tot. disbursem’t s ...
938,501
631,487
653,527
853,078
Balance, surplus.........
35,151
271,701
282,151
133,794
—(Y. 43, p. 22, 73,190, 368, 4 3 0 , 431, 458, 515, 607; Y. 44, p. 59, 90,
244, 275, 343, 494, «08; V. 45, p. 112, 271.)
Cincinnati Jackson & M ackinaw .—Owns from Carlisle, O.,
north to Cecil. O., 127 m iles; Allegan to Dundee, Mich., 133 miles, and
has a connection under construction from Cecil to Jackson. Mich., 83
miles; total, 346 miles. This Co. was formed Feb. 12, 1883, by con
solidation of the Cincinnati Van W eit & Midi., RR., and the Jackson &
Ohio RR., and afterward puiouased the Mich. & Ohio sold in foreclosure.
The bonds'are issued at $10,0 o0 per mile, covering also equipment
which cost about $1,000,000. thus reducing the lien on the road to near
$7,000 per mile. The authorized issueof 1st consol, bonds will be $6, ) 00,0 0 0 ; pref. stick 6 per cent, non-cumulative, $6,228.00.»; common stock,
$11,000,000, of wnich $8,320,000 common and $4,6a0,000 pref. were
listed in June, ;887. Of the 1st consol, m ort, $ 1,200,000 will be used to
retire the same amount of Cin. Van Wert & Mich. 1st mort. bonds, due
1901, which are a first lien on 8 IL3 miles (called the Central Division)
between Cecil, O., and Greenville, O. The inoom« bondholders on same
piece of road were given new pref. stock for their bonds.
A syndicate was formed to build the connection of 83 miles, this
syndicate receiving for every $10,000 >ash subscribed $8,000 in 1st
mort. bonds, $ 10,000 in pref. stock and $20,000 in common stock.
In 1886 the net earnings were $126,000. and for six months of 1887.
ross earnings of the company were $203,779. J. M. C. Marble, Presient, Van Wert, O .; George R. Sheldon, Vice-President, N. Y. City.
—(V. 44, p. «08, 812.)
Cincinnati Lebanon Sc Northern.—Cincinnati, O., to Dodds, O.,
36 m iles; branches, 2 m iles; total, 38 miles. This Co. was formed in
1885, as successor of the Cinn. Northern, sold in foreclosure. Stock is
Total earnings.......................... $1,854,308 $1,705,270 $2,010,406
$1,000,000. Gross earnings for 17 months to Dec. 31, 1886, $176,691;
Operating expenses and ta x es....
1,408,371 1,464,830
1,462,943
net, $45,969.—(V. 44, p. 2 4 3 )
Cincinnati Sc M uskingum Valley.—Owns from Morrow, O.,to
Net earnings . . . . . . . . . . . . . . . . . .
$445,937
$240,440
$547,463
Dresden Junction, O., 148 miles. Chartered as Cinn. Wilm. & Zanes.
f
INVESTORS’
SUPPLEMENT.
[V ol .
xlv
.
RA1LK0AD
S e p t e m b e r , 1887.]
STOCKS AND
39
BONDS.
Subscribers w ill center a great favor by giving Immediate notice o f any error discovered in tbese Tables.
Bonds—Prtnoi DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal. When Due.
Amount
of
For explanation of column headings, &c., see note of
When
Where
Payable,
and
by
Stocks—Last
Par
Rate
per
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Dividend.
Wnom.
Cincinnati Washington <t Baltimore—( Continued)—
2d mortgage, g o ld ........................................... ..
Prior lien, gold................................. -........................
3d mort., gold (3 pr. ct. for 10 years and 4 after).
1st income mort., non-cumulative, gold.................
2 d income mort., non-cumulative...........................
Baltimore Short Line mortgage...............................
Cincinnati & Baltimore mortgage.................. .
Scioto & Hocking Valley m ortgage.......................
Cleveland Akron <£ Columbus—Stock............. ...........
1st mortgage bonds.........................................\.......
General mortgage, gold (for $1,800,000)..............
Cleveland <£ Canton.—Stock ($2,800,000 is pref.)...
Mortgage bonus for $2,000,000...............................
Cleveland Columbus Cincinnati <&Ind.—Stock.......
1st mortgage Bel. & Ind..........................................
do
C. C., C. & I. sinking fu n d ...............
Cons.mortgage (sink, fund 1 p. o.)......................
General consol, mort., gold (for $ 12,000,000) . .. .
Olevel. Lor. & Wheel.—Cl. Tusc. Val. & W. Is tM .. ..
Cleveland <&Mahoning Talley—S tock .......................
1st mortgage, extended............................................
3dm ortg. (now 2d)....... .................................. .
New mortgage for $ 1,300,000..............................
NUes & New Lisbon, 1st mortgage.........................
Cleveland <£Marietta.—Stock.....................................
Cleveland <6 Pittsburg—Guaranteed stock................
4th mortgage (now 1st)............................................
Consolidated sinking fund mort, for $5,000,000..
Constr’n and equip’t income bonds, Series *‘A” ...
Do
do
Series “ B” ..
Cleveland Youngs. <&Pitts.—IstM., gold................. .
1883
1883
1883
1883
1883
1869
Ì44
144
m
391
202
390
390
Ï58
127
67
67
"35
99
200
199
199
1852
$ 1,000
1,000
1,000
1,000
1,000
1,000
1,000
Too
1886
1887
500 &o.
500 &o.
1864
1869
1874
1884
1878
1,000
100
1,000
1,000
1,000
1873
1876
"5 0
500 &c.
500 &o.
1870
500 &o.
1862
1867
1873
1873
1882
” 50
500
1,000
1,000
1,000
1,000
$3,033,000
5 g.
500.000
4iag.
2.237.000
3-4
3.214.000
5
4.000.
000 5
750.000
7
7
500.000
7
300.000
4.000.
000 l*a
6
260.000
1.040.000
5 g.
9.800.000
5
(Î)
2
14,991,600
7
281,000
3.000.
000 7
4.007.000 7 or 6 g.
3.205.000
?*
700.000
2,759,200
(1)
740,500
V654,600
( 1)
500.000
T
2.000. 000
11,246,971
1.096.000
6
2,2>i0,000
7
1.669.000
7
401.000
7
6 g.
(1)
J. & J. N. Y., Farms’ L. &Tr. Co.
A. & O.
do
do
F. & A.
do
do
do
do
___
do
do
J. & D.
do
do
J. & J. Cin., C. W. & B. Office.
M. & N. N.Y.. Farm.Ln.& Tr.Co.
....
N. Y., J. A. Horsey.
J. & J.
do
do
do
M. & S.
do
J.
F.
J.
M.
J.
J.
A.
M.
F.
M.
&
&
&
&
&
&
&
&
&
&
J.
A.
J.
N.
D.
J.
O.
N.
A.
S.
Boston Inter’l Trust Co.
N. Y., ü. 8. Trust Co.
do
do
do
do
New York or London.
New fork.
N.Y., Union Trust Co.
Cleveland, Office.
N. Y., U. S. Trust Co.
do
do
Nov. 1,
April 1,
Nov. 1,
Nov. 1,
Nov. 1,
Deo. 1,
Jan. 1,
May 1,
Feb. 1,
Jan. 1,
Mar, 1,
1931
1893
1931
1931
1931
1904
1900
1896
1887
1926
1927
July 1, 1917
Feb. 1, 1883
Until 1899
May, 1899
June 1,1914
Jan. 1, 1934
Oct. 1, 1898
(»)
Aug. 1, 1893
Sept. 15,1896
J. &“ j . N. Y., Union Trust Co.
Jan., 1890
Q —M. N. Y., Farm. L. & T. Co.
do
do
J. & J.
do
do
M. & N.
do
do
J. & J.
do
do
J. <fc J.
J. & J. Last paid Jan., 1884
Sept. 1, 1887
Jan., 1892
Nov. 1, 1900
Jan. 1, 1913
Jan. 1, 1934
July 1, 1921
Cleveland Lorain & W h eelin g. —Owns from Lorain, O., to
1886.
West Wheeling, O., 158 miles. Chartered as Lake Shore & Tuscarawas
$547,463 Valley in 1870 and opened in 1873. Sold under foreclosure Jan. 26,
1875, and reorganized as Cleveland Tuscarawas Valley & Wheeling. In
$693,175 February, 1883, road sold and reorganized as Cleveland Lorain &
$692,072
$693,275
408 Wheeling. Common stock is $1,000,090 and preferred $4,600,000. In
28,594
1,213
1885 gross earnings were $755,447; net, $212,111. In 1886 gross
Total disbursements...............- $720,667
$694,488
$693,583 earnings, $814,357; net, $257,403; interest, $49,000; surplus, $208,Balance, deficit............................... $274,730
$454,048
$146,120 403. (V. 44, p. 653.)
—(V. 43, p. 308, 398; V. 44, p. 60, 90, 494, 781.)
Cleveland Sc M ahoning Valley. —Owns from Cleveland, O.,
Cleveland Akron & Columbus R ailw ay.—Owns from Hud to Sharon, Pa., 81 miles; Niles, O., to New Lisbon, O., and branohes.
son, O., to Columbus, O., 144 miles. Default was made July, 1874, by 46 miles; total operated, 127 miles. It was leased to Atlantic & Great
Cleveland Mount Vernon & Delaware. Sold in foreclosure in 1882 to Western in perpetuity from October 1,1861. A new lease was made
parties representing the Holland bondholders. The company was re to the reorganized company, New York Penn. & Ohio, till Oct. 1,1962,
organized under this title in Jan., 1886. The 1st mort. bonds m aybe at $357,180 per year till Jan., 1885, and $412,180 per year afterward.
redeemed Jan 1,1890, and of the gen. mort. sufficient are held to retire
Cleveland Sc Marietta.—Operated from Marietta, O., to Canal
the firsts and to Duild the Dresden Branch now in progress. Gross earn Dover and branch, 99 miles, and 7 miles, Valley Junction to Canal
ings in 1*86, $542,915; net,$130,532; charges,$56,828. Grossinl885, Dover, leased. The Clev. & Marietta was successor to the M., Pittsb. &
$493,890; net, $«8,001. Report for 1886 in V. 44, p. 433. (V. 44, p. Clev., foreclosed in 1877. The road was again foreclosed Vlay 5,1886,
275, 369, 4 3 3 ; V. 45, p. 341.)
and reorganized, and $2,000,000 new stock was issued in June, 1887.
Cleveland & Canton.—Line of road—Cleveland to Coshocton, O., Earnings in 1885-6, $293,862; net, $62,813. A. T. Wikoff, Pres’t., Cam
115 miles; canton to Sherrodsville, 43 miles; Oneida to Minerva, 3 miles; bridge, Ohio G. H. Candee, Secretary and Treas., 52 William St., N. Y.
total, 161 miles. The Connotton Valley Railroad was sold in foreclosure —(V. 43, p. 431; V. 44, p. 653.)
May 9,1885, and this company was organized with an authorized capital
Cleveland Sc Pittsburg. —(See Map Penn. RR.)—Cleveland, O., to
of $4,000,000 common and $8,000,000 preferred stock. In May, ’87,
stockholders voted io negotiate a mortgage of $2,000, »00 to change the Roeiiester, Pa., 124 miles; branches—Bayard, O., to New Phila., 31
miles;
Yellow Creek to Bellaire, 43 miles; leased, Rochester to Pittsburg
gauge to standard, &o. The gross earnings for year ending June 30,1887,
were $370,<i07; net, $73,278; surplus over taxes and charges, $1,684. (P. Ft. W. & C.), 26 miles; total operated, 226 miles. The property was
leased
for
999 years from Dec. 1,1871, to Penn. RR. Co., and lease trans
See full report to Dec. 31,1886, V. 44, p. 120. From Jan. 1, to July
31,1887 (7 months) gross earnings were $201,538, against $193,575 in ferred to Penn. Co. May 1,1872. Rental, 7 per cent on existing capital
and
$10,000
per year for company expenses, the lessees assuming afl. lia
1886; net, $ 48,483, against $41,346. (V. 43, p. 244, 487; V. 44, p. 1 2 0 ,
bilities. The terms of the lease were 10 per cent, but the old stock was
211, 275, 400, 433, 621, 751; V. 45. p. 84,271, 292.)
subsequently
converted into a 7 per cent stock by an inorease in amount.
Cleveland Columbus Cincinnati Sc Indianapolis.—Owns
from Cleveland, O., to Columbus, O., 138 miles; Galion, O., to Indian The annual report for the year ending November 30, 1882, stated
that
final
settlement
had been made with the Pennsylvania Railroad
apolis, Ind., 203 miles; Delaware, O., to Springfield, O., 50 miles;
leased, Cincinnati & Springfield RR., 80 miles; Levering Station to Company in the matter of surplus assets remaining to this company, as
of
the
date
of
the
lease,
after closing its business, which surplus accrued
Mount Gilead, 2 miles; Ind. & St. Louis RR., Indianapolis to Terre
Haute, 72 miles; St. L. Al. <ScT. H., East St. Louis to Terre Haute, 189 to the lessee by the terms of the supplementary agreement of November
30,1871.
“
The
total
amount
transferred as authorized by the board
miles; Alton branch, 4 miles; total owned, leased and operated, 738
miles. This was a consolidation in April, 1868, embracing the C. C. & C. of directors is $202,291. This sum has been charged against construc
tion,
meeting
the
old
balance
of net earnings—$390,138—credited to
and the Bellefontaine roads; subsequently leased Cinn. & Spring. RR.
construction In the year 1880.”
and St. L. Al. & T. H. RR., and purchased Ind. & St. L. RR.
For
the
year
ending
November
30,1886, the gross receipts were
The company paid dividends prior to 1877, but after that the
large decline in rates for through freight and the heavy rentals paid $2,885,234, and the deficit to lessee after making a)l payments was
reduced the company’s income so that no further dividends were paid $161,482, against a deficit of $341,981 in 1885.
Cleveland Youngstow n Sc Pittsburg.—Road In operation
until February, 1880, and none after that till February, 1883. In 1882
tiie company acquired control of the Indianapolis & St. Louis, and made from Bergholz, 0 .,to Phalanx, O., 61 miles. Sola in foreclosure Decem
a new lease of the St. Louis Alton & Terre Haute Railroad. The sinking ber, 1886, and reorganized as the “ Lake Erie Alliance <s Southern Rail
fund provision of consolidated bonds may be canceled at option of way,” with stock, as reported, of $2.400,000. No financial s.atement
yet made. A. L Griffin, President, Pittsburg, Pa. (V. 43, p. 334.)
holders, and the bonds so stamped.
From Jan. 1 to June 20,1887 (6 months), gross earnings on all lines
Colebrookdale.—Owns from Pottstown, Pa., to Barto, Pa., 13
were $3,498,479, against $3,135,163 in 1886; net, $935,569, against miles. Leased for 20 years from Jan. 1,1870, to Philadelphia & Reading,
$768,999; surplus over interest, taxes, betterments, &c., $7,152, against at 30 per cent of gross earnings, but proposed changes in oouds given
deficit of $14,477 m 1886.
in V. 45, p. 143. Gro'>s earnings in 1885-86, $55,528; net earniugs (30
The annual report for 1886 was in the C h r o n i c l e , V. 44, p. 368.
per cent rental), $16,658. Gross in 1884-5, $44,905; net (30 per cent),
On the C. C. & I. C. proper, the re suits for four years were as follows: $13,471. Capital stock, $297,215. (V. 45, p. 143.)
OPERATIONS AND FISCAL RESULTS.
Colorado Central—(¿fee Map o f Union Pacific)—Denver to Golden
1883.
1684.
1885.
1886.
16 miles; Golden to State line, 106 miles; Denver Junction t > La Salle,
391
391
391
391
Miles owned...............
151 miles; and narrow gauge line from Golden to Georgetown, 34
Operations—
miles, and Forks Creek to Central City, 11 miles; leases liae from
Passenger mileage.. . 43,548,617 42,176,610 38,145,360 39,496,055 Colorado Junction to Wyoming State line, 9 miles; total operated, 327
Rate $ pass. $ m ile. 2-217 cts.
2-133 cts.
2-091 ots.
2-150 cts. miles. Chartered in I 860, and main line opened in 1870. It is owned by
Freight (tons) mil’ge.408,436,350 397,678,278 428,691.881423,545,587 the Union Pacific. The new mortgage bond was issued to take up the
Av. rate $1 ton $ mile 0-751 ots. 0-633 cts.
0-577 ots.
0-679 cts. old 8 per cent bonds, of which $87,000 are yet out. Stock, $6,230,300.
Earnings—
$
$
$
$
Gross earnings in 1885, $1,320,765; net, $299,443; interest, $336,030;
Passenger...................
965,693
899,435
797,679
849,168 deficit $36,586. In 1886, gross earnings, $1,391,215; net, $414,112 ;
Freight.......................
3,068,717
2,518,873 2,471,863 2,877,157 interest, $336,030; surplus, $78,311.
Mail, express, &c.. ..
178,697
182,038
186,865
194,165
Colorado M idland.—(See ¿fa»)—This standard gauge road has
Total gross eam’gs.
4,213,107 3,600,346 3,456,407 3,920,490
Oper. exp. & taxes... 3,143,526
2,875,853 2,812,132
2,699,361 just been completed from Colorado Springs to Newcastle, Colo-a lo, 178
miles; road was opened for op -ration Sept. 1, 1887, to Leadvilie, 133
Net earnings..............
1,069,581
724,493
644,225
1,221,129 miles; branch to aspen, 17 miles. At Colorado Springs connection is
INCOME ACCOUNT.
made with Denver & Pueblo over the Denver & Santa Fe roa l, which
1883.
1884.
1885.
1886.
has just; been constructed in the interest of the Atchison Topeka &
Receipts—
$
$
$
$
Santa Fe. The mortgage upon the property is for $6,250,0 j0, being at
Net earnings............
1,069,581
724,493
644,225
1,221,129 the rate of $25,000 a mile, and the stock is $5,000,000. Mr. J. J.
Rentals and Interest
129,497
211,396
213,032
263,626 Hagerman, Colorado Springs, is the President. (V. 45, p. 301.)
Miscellaneous..........
165,531
13,805
..............
............
Columbia Sc Greenville (S. C.)—(See Map o f Rich. <£Dxn.)—The
Total in com e....
1,364,609
949,694
857,257 1,484,755 company owns from Columbia to Greenville, S. C., 143 miles; oranohes to
Abbeville and Anderson, 21 m ; total 164 miles. Also owns Laurens RR.,
ta ^ rw tr oiLdebt. . . .
507,453
602,540
659,385
702,810 31 miles, and leases Blue Ridge RR., 32 m., and Spartanburg Union &
Dividends............... (2) 299,984
............................................................ Col. RR., 69 m. Total operated, 296 miles. The Greenville & Col. road
Miscellaneous...........
26,995
102,633
79,896
2,133 was sold in foreclosure April 15, 1880, and reorganization was made
under this name; preferred stock, $ 1,000,0 00; common stock. $ 1,000,Total disbursem’ts
834,432
705,173
739,281
704,943 000; all in $loO shares. A majority of the stock was held by the Rich
Balance surplus.......
530,177
244.521
*117,976
*779,812 mond & West Pt. Terminal Co., and in May, ’86, this road was leased to
* From the surplus as here given each year, there was spent for addi the Rich. & Danville RR. Co. The gross earnings on all lines in 1884-85
were $724,316; net, $315,176; interest and rentals, $243,166; surplus ,
tions to property: In 1885, $177,144; in 1886, $188,418.
—(V. 43, p. 22, 131, 309, 398, 579, 671; V. 44, p. 21. 59, 184, 308, $102,009. In 1885-6, gross earnings, $655,631; net, $214,833; interest
and rentals, $251,418; deficit, $36,585. (V. 43, p. 718.)
357, 3 6 8 , 526, 621, 751; V. 45, p. 25, 8 4 ,142,|
INCOME ACCOUNT.
Net earnings..............
7Vioho/ V,QPtYl.i>Vlf Q_
Interest on bonded debt................
Other interest and miscellaneous.
1884.
$445,937
1885.
$240,440
INVESTORS’ SUPPLEMENT.
[VoL.
xlv
.
JRAILKOAD STOCKS AND
S eptember , 1887.]
BONDS.
41
Subscribers w i l l confer a great favor by g iv in g Im m ediate notice o f any error discovered in ibase fa b le s
Bonds—PrLnci"
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable
and
by
When
Rate
per
Pai
of
For explanation of column headings, &c., see notes of
Outstanding
Dividend.
Whom.
Cent. Payabl®
Road. Bonds Value.
on first page of tables.
Colebrookdale—1st mortgage......................................
Colorado Central—1st mortgage, new.......................
Colorado Midland—1st m., gold ($25,000 p. mile)..
Columbia A Greenville—New mort. ,g’ld,coup. or reg
2d mortgage.........................................................—
Columbia A Port Deposit—1st mortgage....................
Columbus A (hnn. Midland—1st M.', coupon............
Columbus Hocking Valley A Toledo—Stock........
Consol, mortgage, gold (for $14,500,000).............
General M., g., on road & Hocking Coal & RR. Co.
Col. <fc H. V .l s t mortgage, sinking fund bonds..
Col. & H. V- 2d mortgage bonds............................
Columbus & Toledo, 1st & 2d mort. co ron, s. f ..
Ohio & W. Va., 1st M. (s. f. $15,000 begins in ’86)
Columbus Springfield A Cincinnati—1st mort.......
Columbus A Western—1st mort. (end. by Cent. Ga.)
1st mortgage..............................................................
Connecticut Centred—1st mortgage, cp. or reg...........
Mortgage bonds..................................— •---- —
Massawippi st’k, guar, same div. as Conn. & Pass.
do * * bondsT guar, by Conn. & Pass.............
Newport & Richford bonds, guar, by C. & P ........
Consol, RR. o f Vermont—1st mortg. (for $7,000,000)
Coming Cowanesque A Antrim—Debenture bonds..
Covinpton A Macon—1st M., gold ($12,"00 perm .).
$600,000
6
J. & D. Phila., Phil. & R. Office. June 1, 1898
13 1868 $100&o.
4,701,000
J. & J. Boston, Treas.’s Office. July, 1909
1,000
323 1879
l
g
•
June 1, 1936
6
J. <& D.
N. Y., Cent. Tr. Co.
6,250.000
1,000
250 1886
2,000,000
164 1881
1,000
f 8- J. & J. N. Y., First Nat. Bank. Jan. 1, 1916
April 1, 1923
6
A. & O.
1,000,000
do
do
164 1881
1,000
F. & A.
1,882,000
7
Phila., Penn. RR. _ Feb. 1, 1893
40 1868
1,000
6
J. * J. N.Y., Farm’s’ L.&Tr.Co. Jan. 1, 1914
2,000,000
71 1884
1,000
Aug. 19,1885
328
100 11,696,300 13®8 st’k
8,000,000
324 1881
5 g. M.'&'S. N. Y., Winslow, L. & Co. Sept. 1. 1931
1,000
June 1, 1904
J.
&
D.
1.378.000
do
do
327 1884
1,000
6 gA. & O.
Oct. 1, 1897
7
1.401.000
do
do
121 1867 5Ó0&C.
Jan. 1, 1892
J.
*
J.
7
777,000
do
do
121 1872
1,000
1900 & 1905
Various
7
do
do
3.040,000
118 ’75-’ 80 1,000
May 1, 1910
M. & N.
7
do
do
1,584,000
85 1880
1.000
M. A S. Bost.,3 Merchants’ Row Sept. 1, 1901
7
1,000,000
45 1871
1,000
6
J. & J. N. Y., Nat. City B’k.
Jap- 1, 1911
800,000
60 1881
1.000
Q.—M. Columbus, O., Treasurer Sept. 10,1887
2
1,786,200
55
50
Sept. 1,1890
M.
&
S.
N.
Y.,
Am.
Exch.
N.
B’
B
302,000
7
55 I860
1,000
5
M. & N. Bost.&Manchester.N.H. May 1, 1887
1,500,000*
172
50
1894
J. & J. Bost., Treasurer’s office
500,000
7
71 1874 500 &c.
3ia J. & J. Bost. &Manchester,N. H. June, 1887
350,000
41
100
New York City.
A. & O.
Oct. 1, 1895
7
325,000
29 1875 500 &c.
.
2,500,000
147
2*3 F. & A. Bost.Safe Dep.&Tr.Co. Au*. 1, 1887
100
do
April 1,1893
A. & O.
7
1,500,000
110 1873 100 &c.
do
Aug. 1, 1887
...
400,000
37
2 1a F. & A.
100
do
Jan. 1, 1890
400.000
37 1870
1,000
6 g. J. & J.
do
Jan. 1, 1911
J. & J.
22 1881
350,000
5
1,000
2
2,370,000
80
100
Q.—J. Boston, Springfield, &o. Oct. 1, 1887
M. & S. Phila., Penn. RR. Office. 1900-’l- ’2-’3-’4
991.000
6
7 1864
1,000
J. & J. Bost..Am. Loan&Tr.Co. July 1, 1913
6,000,000
5
185 1883 100 &c.
J. & J. St. Albans, W. C. Smith. Jan. 1. 1891
500,000
7
1871 500 &c.
M. & N. Phila. F. I. T. & S. D. Co. May 1, 1898
1,250,000
6
78 1383
1,000
60 1885
720,000
1 000
6 g. M. & S. N.Y., Green & Bateman. Sept. 1.1915
C olu m b ia Sc P o rt D eposit.—Owns from Columbia, Pa., to
Port Deposit. Md., 10 miles. Leased to and operated by Pennsylvania
RR. Co. Rental, net earnings. Rental in 1885, $33,150; in 1886. $S1,107. Capital stock, $497,100; funded debt, $1,882,000, and floating
ebt (coupons), $1,004,290.
C olu m b u s Sc C in cin n ati M id la n d .-L ip e of road, Columbus,
O., to Cliuton Val., O., 71 m. Openea in Nov., ’81. Stock, $2.000,«>00.
Tiie company has a 50-years traiflc agreement with the Baltimore &
Ohio and Cin. W. & Balt, companies. Gross earnings in 1886, $320,259;
net, $112,795. Orland Smith, Pres., Cincinnati, Ohio. (V. 44, p. 495.)
C olu m b u s H o c k in g V a lle y Sc T o le d o .—Owns main line
from Toledo to Pomeroy, 257 miles; branches—Logan to Athens, 26;
Logan to Straitsville, 13; Straits’e to Nelsonville, 17; others, 14; total,328.
This was a consolidation in July, 1881, of the Columbus & Hock
ing Valley, Columbus & Toledo, and Ohio & West Virginia. The stocks
of those companies were purchased and new consolidated stock for
$20,000,000 authorized; in August, 1885, a stock dividend of 133s per
cent was made, bringing the total outstanding up to $11,696,300. Of
the consolidated mortgage $6,500,000 was reserved to meet the prior
liens, and the “ Hocking Coal & RR.” joined in making these bouds. The
Central Trust Co. of New York is trustee. The gene-al mortgage of ls « 4
-covers the road, and is also a mortgage on the coal property of the
« Hooking Coal & RR. Co.,” whose stock is owned by the C. H. & T.
A combination was made i n 1885 with the reorganized Ohio Central
by which the company w ill be under one management, as per the circu
lar in V. 40, p. 59 7, and the C. & H. V. guarantees the interest on the
T. & O. C. 1st mortgage bonds.
From Jan. 1 to June 30, in 1887 (6 months), gross earnings were
-$1,239,123; net. 499,629.
The earnings of 1834 were greatly reduced by the miners’ strike in
the Hocking valley, lasting from June, 1884, to March, 1885. Annual
report for 1886 in V. 44, p. 493; income for three years was as follow s:
?
INCOME ACCOUNT.
1883.
Receipts—
$
Gross earnings........ 2,779,382
Net receipts............. 1,123,812
Disbursements—
866,060
Int. on bds. & car tr.
35,725
Int. on float’ « debt..
22,628
Int. to Pa.RR.on l’se
Miscellaneous........
1884.
$
1,842,473
601,819
1885.
$
2,311,003
977,306
1866.
$
2,361,403
978,010
866,060
56,814
22,277
884,564
61,586
22,902
1,490
946,925
42,832
22,r 81
18,750
1,031,088
970,542
945,151
924,413
Tot. disburse’ts.
sur. 6,764 def. 53,078
Balance....................sur.199,399 def. 343,332
—(V. 43, p. 452,196; V. 44, p. 90,117,148, 211, 275, 400, 4 9 3 ; V. 45,
£>. 292)
C olu m bu s Springfield Sc C in cin n a ti.—Owns from Columbus,
Ohio, to Springfield, Ohio, 44 miles. Leased with Cincinnati Sandusky
& Cleveland to Indiana Bloomington & Western, May 1,1881, for 33is
per cent of gross earnings, with guarantee of $80,000 as minimum.
Of the excess over minimum, if any, on 3313 basis, this company takes
one-fifth and Cincinnati Sandusky & Cleveland four-fifths. Capital
■stock, $1,000,000, and bonds, $1,000,000.
C olu m b u s dc W e ste rn .—Owns from Opelika to Goodwater, Ala.
60 miles, and Columbus to Opelika, 29 miles—total 89 miles. The
Savannah & Memphis RR. was foreclosed June 5, 1880, and this Com
pany organized. Extension was in progress from Goodwater to Birming
ham, Ala. The bonds are endorsed by Cen. RR. of Georgia. There are
also $260,000 bonds at 8 p. c. due Oct., 189o, int. A. and O. Gross
earnings in 1885-86. $173,207; net, $52,127. Gross in 1884-85, $173,442; net, $53,987. Stook, $1,750,000. W. G. Raoul, Pres’t, Savannah,
C olu m bu s Sc X e n ia .—Owns from Columbus, Ohio, to Xenia, Ohio,
55 miles. Is operated as a division of the Little Miami, and is leased
for 99 years in connection with that road to the Pittsburg Cincinnati &
fit. Louis, which pays 8 per cent on stock and provides for the bonds.
The lease is guaranteed by the Pennsylvania Railroad Company. The
Columbus & Xenia pays 8% per cent dividend per annum.
C on cord.—Owns from Concord, N. H., to Nashua,N. H., 35 miles;
Manchester & North Weare, 19 miles; Hookset Branch, 7 miles; leased—
Concord & Portsmouth, 41 miles; Suncook Valley, 20 miles; Nashua
Acton & Boston, 20 miles; Manchester & Keene RR., 30 miles; total
■operated, 172 miles. Fiscal year ends March 31. Annual report, in V.
44, p. 652. Income account was as follow s:
INCOME ACCOUNT.
1883-84.
1884-85.
1885-86.
1886-87.
-Gross earnings.......... $1,142,894 $1,100,864 $1,071,963 $1,166,847
Net earnings................ $476,190
$406,379
$452,573
$479,475
Disbursements—
$113,005
Rentals.......................... $144,593
$113,319
$112,532
37,359
Taxes on stock............
37,360
37,755
36,872
Improvements and re
178,074
served for imp’s, &o.
143,236 104,091
152,314
150,000
Dividends, 10 per cent.
150,000 150,000
150.000
Total disbursem’ts.
$475,189 $405,165
Surplus.........................
$1,001
$1,214
—(V. 43, p. 210; V. 44, p. 65 2 .)
$451,718
$855
.
$478,438
$1,037
C oncord Sc C la re m o n t.—Owns from Concord to Claremont,
N. H., 56 miles; branch, Contoocookville to Hillsborough, N. H.,
15 miles; leased —Peterboro & Hillsboro BR., 18 miles; total operated,
89 miles. Capital stock. $412,400. The lease to the Boston & Lowell
RR. having been held invalid, this road was operated indepently after
July 1, 1887. (V. 45, p. 26).
C oncord Sc P o r ts m o u th .—Owns from Portsmouth, N. H., to
Manchester N. H.. 4 0 ^ miles.
The road was Sold to first mort
gage bondholders in 1857, and leased to Concord RR. in 1862 for 99
years. Lease rental is $25,000 a-year, which gives 7 per cent a year to
present stockholders. There is no debt.
C onnecticut C en tral.—Owns from East Hartford, Ct., to Massa
chusetts State Line, 20 miles; branch from Melrose to West Street, Ct., 7
miles; total operated, 28 miles. Leased to New York & New England RR.
for 15 years from June 1,1880, the rental to be net earnings, but never
to exceed 6 per cent per year on stock. Capital stock, $448,500. Funded
debt, $325,000, all owned by New York & New England Railroad,
and on suit for foreclosure by the lessee company it was held that they
must account to stockholders for the earnings. Gross earniags in
1885-6, $81,912; net, $1,812; interest, $22,750; deficit, $20,933. (V.
44, p. 275, 713.)
C onnecticut Sc P a ssu m p slc.—Owns from White River Junotion,
Vt., to Canada Line, 110 miles; leased, Massawippi Valley and branch
(Canada), 37 miles; total operated, 147 miles. The lease of Massawippi
Railroad is at 6 per cent on bonds and same dividends as are paid on
the stock of the lessee. In M ireh, 1887, a lease of this road was nego
tiated to the B oston * Lowell for 99 years on a basis to pay C. & P.
stock 5 per cent per anuum tor ten years and 6 percent thereafter;
operations began thereunder June l, 1837. Gross earnings in 1834-85,
$797,526; net, $299,415. Gross in 1885-86, $758,930; net, $286,981.
—(V. 43, p. 3 0 8 : V. 44, p. 400.)
C onnecticut R iv e r.—Owns from Springfield, Mass., to South Ver
non, Vt., 50 miles; branches, 6 miles; leased Ashuelot RR., South
Vernon, Vt., to Keene, N. H., 24 miles; total operated, 80 miles. Fisoal
year ends September 30. Net earnings, 1885-86, $270,213; 1884-85,
$272,222. Pays regular dividends on stock and has no funded debt,
but notes payable, $509,000. (V. 43, p. 547.)
C onnecting ( P h ila d e lp h ia) Owns from Mantua Junotion to
Frankford Junction, Pa., 7 miles. A connecting link in Philadel
phia to the West and South. Operated by Pennsylvania Railroad.
Rental, 6 per cent on capital stock ($1,278,300); and interest on funded
debt ($991,000). The bonds are issued in series A B C and D, maturing
respectively in 1900-’l , ’2, ’3 and ’4.
C onsolidated R a ilro a d o f V e rm o n t.—Road owned—Windsor,
Vt., to Burlington, Vt., 12u miles; Essex Junction to Rouse’s Point. 65;
total, 185 miles. Leased—Addison RR., 16 miles; Montpelier & White
River RR., 6 ; Montreal & Vt. Junction RR., 26; Rutland RR., 120;
Stan. S. & Ch. RR., 4 3 ; Vermont & Mass., 2 1 ; New London No., 100
Brat. & Whitehall RR., 36. Total owned, leased and operated 553
miles. Controls also the Ogdensburg & Lake Champlain RR.
This is the title of the corporation formed on the reorganization of the
Central Vermont and Vermont * Canada companies in 1883. On July
1,1884, the old receivership was finally closed by order of Court and
the transfer made to the Consol, of Vermont, which leased all its roads
in perpetuity to the Central Vermont RR. Co. Preferred stook is $750,000, with preference of 6 per cent per annum if earned; common stock,
$3 =>0,000. In July, 1885, the Grand Trunk of Canada purchased a con
trolling interest in the Stock. The Central Vermont, which operated all
this mileage in 1885-6, reported earnings as $2,533,938 gross and $795,444 net; rent of leased lines $357,750; interest and taxes, $389,633;surplus, $48,061. (V. 43, p. 274, 308 ; V. 44, p. 433.)
C orning C ow anesque Sc A n tr im .—Owns from Coming, N. Y .,
to Antrim, Pa., 53 miles; branch, Lawrenceville to Harrison Valley,
Pa., 32; total operated, 85 miles. Consolidation (January, 1873)
of the Blossburg & Coming RR. and the Wellsboro RR. June 1, 1874,
the Cowanesque Valley RR. was absorbed. These lines are leased to and
operated by the Fall Brook Coal Co., together with 7 miles owned.
Rental paid—6 per cent on bonds, 6 per cent on common stock and 7
per cent on preferred stock; dividends paid quarterly, March 31, &e.
Stock—common, $1,500,000, and preferred, $500,000. The coal line of
Phila. & Reading and N. Y. Central is over the road of this company,
which jointly guarantees the bonds of the Pine Creek Railroad
Company. Earnings in 1885-86, $614,688; net, $202,208; rental
paid C. C. & A. RR., $150,000; surplus to lessee, $52,208. Earnings in
1884-85, $607,595; net, $L79, i93; rental paid C. C. & A . $150,000;
surplus to lessee, $29,195. George J. Magee, Prest., Watkins, N. Y.
C o v in g t o n & M a c o n .—Line of road, Macon, Ga., to Athens, Ga.
Eatontou and Gritfin, Ga., 102 miles (practically completed by Oct.
1887). with other lines projected. Bouds are issued at the rate of
$12,000 per mile and capital stock $12,000 per mile. Douglass Green,
10 Wall Street, New York City, is President.
C u m berlan d Sc P en n sy lv an ia . - Owns from Cumberland, Md.,
to Piedmont, Md., and several branches, 55 miles. It is owned and
operated by Consolidation Coal Co., which guarantees second mortgage.
C u m berlan d V a lle y .—Owns from Harrisburg, Pa., to Potomac
River, Md., 82 miles; leased—Martinsburg & Potomac RR., 12 miles;
Dillsburg & Mechanicsburg RR., 8 miles; Southern Pennsylvania RR.,
23 miiftfl; controlled, Mont Alto RR., 18 miles, but accounts kept sep-
INVESTORS’
SUPPLEMENT.
{vou
S eptember , 1887:]
.RAILROAD
STOCKS
AND
BONDS.
43
Subscribers w i l l eonfer a great fa v or by g iv in g im m ed ia te notice o f a n y error discovered in these T a b les.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
For explanation of column headings, &c., see notes of
of
Par
Where Payable, and by Stocks—Last
Outstanding
Road. Bonds. Value
on first page of tables.
Cent. Payable
Whom.
Dividend.
Cumberland A Pennsylvania—1st mortgage............
38 1866
2d mortgage, sinking fund, (guaranteed)...............
38 1868
Cumberland Valley—Stock ($484,900 is preferred).
82
....
52
....
1st and 2d mortgages................................................
24 . . . .
Southern Pennsylvania, 1st mortgage, gold........
Danbury A Norwalk—Stock......................................... 36)3
33 ’7<V72
1st and 2d mortgages...............................................
1880
Consolidated mortgage.............................................
General mortgage...................................................... 3*6)9 1883
Dayton Ft. Wayne Oh.—IstM .($21,000 p .m .)........
Dayton & Ironton, 1st mortgage, g o ld .................. 155 18*8*5
Dayton Michigan—Com. stock (3)s guar.C.H.&D.) 141
....
141 1871
Preferred stock, (8 peroent. guar. C. H. & D.) —
3d mortgage................................................................ 142 1869
142 1881
Consol, mortgage, guar, by C. H. & D....................
1864
Toledo Depot 2d m ortgage....................................
*32 1879
Dayton Union—1st mortgage, sinking fund........ .
1879
41 1864
Dayton Western—1st M., guar. L. M. andC. <fc X .
Delaware—Stock............................................................ 100
85 187*5
Mortgage bonds, convertible, guar. P. W. & B —
....
31
Delaware Bound Brook —Stock, guaranteed..........
27 1875
1st mortgage...............................................................
1879
2d mortgage debenture bonds, reg.........................
8*8*6
Delaware Lackawanna
Western—Stock................
Consol, mort., on roads & equipm’t, ($10,000,000) 288 1877
1872
Plain bonds (hot mortgage).....................................
*4*4 1860
Del. Maryland Va.—Juno. & Breakwater—1st M.
44 1879
Juno
Breakwater, 2d mortgage.........................
19 1873
Breakwater & Frankford, 1st mortgage, r e g .......
35 1876
Worcester Railroad, 1st mortgage, coupon...........
....
Denver Rio Grande—Stock ($45,500,000)............. 1.317
Pref. stock, 5 per ct., non-oum. ($23,000,000)---- 1.317
A
A
A
A
A
A
& A
A
$1,000
1,000
50
500&C.
....
50
100 &c.
....
100
$803,500
392,000
1,777,850
270,500
625,000
600,000
400,000
100,000
150,000
6
6
2)9
8
7 g2%
7
6
5
M. & S.
M. & N.
Q.—J.
A. & O.
M. & S.
F. & A
J. & J.
J. & J.
A. & O.
N.Y., Consol.Coal Office March 1,1891
do
do
May 1.1888
Phila. and Carlisle. Pa. July, 1887
Phila., T. A. Biddle & Co. 1904 & 1908
Mar. 1. 1900
New York and Danbury Aug. 15, 1887
Housatonie RR., Bri’pt
1890-92
do
do
1920
N.Y., Bankof Republic.
1925
i*,ò*o*o
1,300,000
2,403,171
1,211,250
351,000
2,324,000
53,000
225,000
173.000
495.000
1,537,060
650,000
1,742,000
1,500,006
242,000
26,200,000
3.074,000
600,000
400,000
250,000
200,000
400,600
38,000,000
23,650,0« îO
"‘e g 1%
2
7
5
7
7
6
6&7
3
6
2
7
6
1%
7
7
Bost., Intem ’l Trust Co.
N. Y., Winslow, L. & Co
do
do
do
do
do
do
do
do
N.Y., Am.Exch.Nat.Bk.
4
4
4
4
J. &**J.
A. & O.
Q.—J.
A. & O.
J. & J.
M.
8.
J. & D.
J. & D.
J. & J.
J. & J.
J. & J.
Q.—F.
F. & A.
M. & N.
Q .-J .
M. & S.
J. & D.
J. & J.
F. & A.
J. & J.
A.
O.
&
N.Y., Bank of America.
Dover, Co.’s Office.
Phil., Fid. I.T.&.S.D. Co.
Philadelphia.
Phila.,Guar.T.& S.D.Co.
Philadelphia.
N. Y „ 26 Exòhange PI.
do
do
do
do
Philadelphia.
do
do
do
Jan. 1, 1925
April 1887
July, 1887
Oot„ 1888
Jan. 1, 1911
March 1, 1894
Dec. 1, 1909
After 1910
Jan. 1, 1905
July 2, 1887
July 1, 1895
Aug, 17, 1887
May, 1905
May 1, 1899
July 20,1887
Sept. 1,1907
June, 1892
1890
1899
1898
1896
" ¿ ia
....
Office, 47 Wm. St., N.Y.
July 12,1887
50
50
1,000
1,000
....
1,000
1,000
1,000
25
500&C.
....
....
50
1,000
....
....
....
....
100
100
arate; total controlled and operated, 141 miles. Owns or leases sev
eral factory roads, in all about 43 miles. The stock is owned in large
part by Penn. RR.Co. Large advances bave been made to branch roads.
Operations and earnings on the main line for four years past were: '
Freight (ton)
Gross
Net
Div. p. ct.—
Years.
Miles.
Mileage.
Earnings. Earnings. Pref. Com.
1883 ................ 125
30,018.284 $793,063 $223,044
10
10
1884 .................. 125
27,965,208
768,332
213,338
9 1«
9>s
1885 ................. 125 25,844,869
699.393
255,811
8
8
1886’ .................. 125 ....................
733,703
196,285
8
8
D an b u ry Sc N o r w a lk .—Owns from Danbury, Conn., to Wilson
Point, South Norwalk, Conn., 261a miles; branches to Ridgefield and
Hawleyville, together 10 miles; total operated, 3 6 ^ miles. In July,
1886, a lease of this road was made to the Houeatonic for 99 years, the
lessee to pay interest and 5 per cent per annum on stoek. In 1885-86
net earnings were $92,510; in 1834-5, $80,129. (V. 43, p. 334.)
D ayton F o rt W a y n e & C h icago.—Road from Dayton.O.,to Ironton, 155 miles (the former Dayton sc Ironton road), and projected ----miles from the main line to Fort Wayne. This company was formed in
June. 1887, by consolidation of the Dayton & Ironton and the Dayton
& Chicago, and was to be leased in perpetuity by the Ives party to the
Cin. Hamilton & Dayton. Stock authorized. $15,000,000. The bonds
are for $5,500,000 authorized and were to be guaranteed by Cin. Ham.
& Dayton. F. B. Loomis, President, N. Y. (V. 45, p. 13, 53.)
D ayton Sc M ic h ig a n .—Owns from Dayton, O., to Toledo, O., 141
miles. Leased May 1,1863, in perpetuity to the Cincinnati Hamilton &
Dayton. Lease amended January 23,1370. The rental is the interest
and sinking fund of debt, and 8 per cent on preferred stock and 3)3 per
cent on $1,003,300 common. Of the common stock $1,003,300 only is
guaranteed 313 by C. H. & D. Profit to lessee in 1883-84, $161,990;
1884-85, $196,387; 1885-6, $215,219. The lessees held $1,399,273 of
the common stock, but sold this ia Juae, 1887. (V. 44, p. 751.)
D ayton Sc U n io n .—Owns from Dodson, Ohio, to Union City, Ind.,
32 miles; leased Dayton to Dodson, 15 miles; total operated, 47 miles.
The Greenville & Miami RR. was sold out Oct. 30,1862, ind re-organized as now Jan. 19,1863. Operated by trustees since December 23,
1871. Capital stock, $86,300. In 1885-6gross earnings were $165,975; net, $61,410. In 1884-5 gross earnings, $135,140; net, $45,694.
D ay to n Sc W e ste rn .—Owns from Dayton, O., to State Line, Ind.,
37 mties. Leased in perpetuity from Jan. 1, 1865, to Little Miami,
and carried with that road in the general lease to the P. C. & St. L. The
lessees are virtual owners and are answerable for all obligations.
D e la w a r e .—Owns from Delaware Junction (P. W. & B.), Del., to
Delmar (Md. Line), 84 miles; branches, 16 miles: total operated, 100
miles. The Dorchester & Delaware and Queen Anne & K. railroads
now operated by P. W. & B. Rti. The Delaware Railroad was opened
1855-60, and is leased for 21 years from 1876 to the P. W. & B.
C o.; rental 30 per cent of gross earnings, but stock must have 6 per
cent. Gross earnings 1885-86, $671,738; net, $201,522; interest and
dividends, $130,734; surplus, $70,517; 1884-85, gross, $644,117; net,
$193,225; interest an.I dividends, $130,734; surplus, $62,501.
D ela w a re Sc B ou n d B r o o k .—Owns from Bound Brook (Centof New Jersey) to Delaware River, 27 miles; branch, main line to
Trenton, 4 miles; total operated, 31 miles. In connection with Central
of New Jersey and North Pennsylvania forms a line between New
York and Philadelphia. In May, 1879, the property was leased for
990 years to the Philadelphia & Reading Railroad Company—the lessee
laying interest and 8 per cent on stock after May, 1883. Gross earnings
n 1885, $689,432; net, $381,916. In 1886, gross, $736,110: net. $397,829; rental $257,880; net profit to lessee, $139,949. (V. 44, p. 211.)
D ela w a re L a ck a w a n n a Sc W e ste rn .—(¿fee Mai)).—This company
operates under lease an extended system of roads in New York, Penn
sylvania and New Jersey. Owns from Delaware River (N. J. line) to New
York State line, 115 miles; branches—Scranton to Northumberland,
80 miles; Greenville to Winton, Pa., 8 miles; to Storrs, 3 miles; Junction
to Keyser Valley, Pa., 5 miles; leased lines in New York—N. Y. Lack. &
Western RR., 214 miles; Cayuga & Susquehanna RR., 31 miles;
Greene RR. 8 miles; Oswego & Syracuse Railroad, 35 miles; Utica
Chenango & Susquehanna Valley RR., 97 miles; Valley RR., 12 miles;
controlled and operated—Syracuse Binghamton & New York, 81 miles;
leased lines in New Jersey—Chester RR., 10 miles; Morris & Essex, 118
miles; Newark & Bloomfield, 4 miles; Warren RR., 18 miles; Sussex, 30
miles; Passaic & Del., 14; total operated, 886 miles; the Rome & Clin.,
13 miles, and Utica Clin. & Bing., 31 miles, were surrendered April, 1883.
In 1882 the important connection to Buffalo, the N. Y. Lack. & West,
was opened, and the road was leased by this company. The Lackawanna
& Bloomsburg was consolidated with this company June 19,1873.
The Delaware Laokawanna & Western Railroad publishes no annual
report in pamphlet form but merely a circular showing income
account and balance sheet. The road was operated mainly as a coal
carrier and distributer till 1882, when the line from Binghamton to
Buffalo was built and leased to the Delaware Laokawanna & Western,
and the company entered the field as a competitor of the trunk lines
between New York and Buffalo.
The Delaware Lackawanna & Western formerly paid 10 per cent on its
stock, but its numerous railroad leases became onerous, and in the dull
times, 1876 to 1880, no dividends were paid: in 1880 3 per cent was
paid; in 1881,6% ; in 1882,1883, and 1884, 8 ; in 1885,7%; in 1886, 7.
i
&
Prices of stock yearly since 1870 have been: 1871,102-0111)2; 1872,
9101128s; 1873, 798s® 106; 1874, 9931123a; 1875, 106k,® 123; 1876,
648501203a; 1877, 30?8®77: 1878. 4 1 0 6 1 ’ a; 1 8 7 9 .4 3 0 9 4 :1 8 8 0 ,6 8 )2
0110)4; 1881, 1070131; 1882,116)40150)4; 1883,111)2013112; 1884
86%3133)8; in 18»5,825801295s;in 1886,1150144; in 1887toSept. 16,
inol., 126 0139)2.
The following is a synopsis of the company’s income acoount for
four years from the report in C h r o n i c l e , V. 44, p. 273.
1883.
1834.
1385.
1886.
Operating expenses.... 23,093,048 23,008,147 23,220,572 24,954,433
385,033
443,182
164,029
Betterments.................. 1,072,816
Total expenses....... 24,165,864 23,393,180 23,663,754 25,118,462
Net receipts................... 8,653,742 7,918,312 7,427,923 7,224,403
INCOME ACCOUNT.
1883.
Net receipts..............
8,653.742
Interest and rentals.... 4,946,943
1884.
7,918,813
5,113,322
1885.
7,427,923
5,187,089
1886.
7,224,403
5,186,711
Balance, surplus............ 3,706,799 2,805,490
Dividends........................ 2,096,000 2,696,000
Rate of dividends.........
8
8
2,240,834
1,965,000
7)3
2,037,692
1,834,000
7
275,834
203,692
Balance after divid’ds.. 1,610,799
709,490
GENERAL BALANCE AT CLOSE OP EACH FISCAL T E A R .
Assets—
1883.
1834.
1885.
1886.
RR. buildings, equip$
$
$
$
m’t, coal lands, &c.. 33,089,336 34,250,418 34,508,047 34,496,431
Stks&bds., own’d, cost 6,503,851
5,449,713
5,374,918 4,770,654
Net cash & cur. aco’ts
*147,987
*527,121
*357,562
*897,331
Materials, fuel, & c...
1,265,310
1,049,712
941,372
1,221,174
Total.................... 41,007,034 41,276,965 41,181,899 41,385,590
Liabilities—
S to ck ......................... 26,200,000 26,200,000 26,200,000 26,200,000
Funded debt.............
4,044,900
4,044,900
3,674,000 3,674,000
Balances....................
439,560
............
............
............
Surplus accou nt....... 10,322,574 11,032,065 11,307,899 11,511,590
Total liabilities......... 41,007,034 41,276,965 41,181,899 41,385,590
* Net balance between liabilities and assets.
—(V. 43, p. 580; V. 44, p. 149, 212, 2 7 3 ; V. 45, p. 212.)
D elaw are M aryla n d Sc V ir g in ia .—Consolidation June l, 1883,
of the Junction & Breakwater, the Breakwater & Frankford and the
Worcester railroads. Road extends from Harrington to Rehoboth, Del.,
44 miles; Georgetown to Franklin City, Va., 54 miles; total, 93 miles.
In July, 1885, the company passed into control of the Phila. Wil. &
Balt. RR and became part of the Penna. RR. system. Earnings for
1885-86, $149,357; net, $27,317; fixed charges, $50,000; def. $77,317.
D enver Sc B io G rande (3 feet.).—(¿fee Map) -Owns from Denver
City, Colorado, via Pueblo, Salida, Gunnison, Montrose and Grand
Junction, to the western boundary of Colorado, where it oonneots
with the Denver & Rio Grande Western, to Salt Lake City and Ogden,
making the distance from Denver to Ogden 7 7 1 miles, and from Pueblo
to Ogden 651 miles. Branches run to Leadville, Dillon, Red Cliff, Crested
Butte, Silver Cliff, Chaffee and Hot Springs; also from Pueblo to Silver ton,
via Cuchara, Alamosa and Durango, with branches to El Moro,Española,
Del Norte and Wagon Wheel Gap; tot. operated Deo., 31,’ 86,1,3 L7 miles.
The former D. & R. G. Railway was foreclosed under the old consoli
dated mortgage, July 12, 1866, and sold for $15,000,000. Reorganiza
tion was made under the title of Denver & Rio Grande Railroad Co.
Of the $42,000,o00 4 per cent consolidated gold bonds authorized
$6,382,500 were reserved to retire the old bonds when due; $6,900,000
retained for acquiring the Denver & Rio Grande Western or
to extend the Denver & Rio Grande to Ogden; and $6,142,500
held in the treasury, which can be issued for future capital requirements
or the construction of branches, but only with the consent of pref. stock
holders. Of the $45,500,000 common stock, $7,500,000 to be held to
acquire the Den. & Rio Gr. West., or to build the line to Ogden, and $4,350,000 of pref. stock reserved for the same purpose. The rolling stock
is owned by the co npanv; and after reorganization the total annual
charge forinterestonbonds was $1,349,775. The preferred stockholders
have the right till 1891 to eleot two thirds of the directors, uuless divi
dends are paid our, of net earnings for two full years on the preferred
stook, after which the directors snail be chosen by all the stockholders.
From Jar. 1 to July 31.1387 (seven months), gross earnings were
$4,233,908, against $3,490,024 in 1886; net, $1,697,976, against
$1,175,384,
Earnings, expenses, &o., for four years were as follows, no earnings
or expenses of the Utah leased lines being included in 1884 or 1835:
1833.
1834.
1885.
1886.
Miles oper. Dec. 3 1 ...
1,679
1,317
1,317
1,317
$
$
$
$
Total gross earnings.. 7,361,546 5,552,103 6,1)9,054
6,738,077
Operating expenses.. 4,743.111
3,758,530 3,935,273 4.227,417
Net earnings............. 2,tu e,430
1,793,573
2,183,761 2,510,660
Other receipt»............
114,531
34,401
67,227
46,740
Total income.......... 2,732,966
1,827,974 2,251,007
2,557,400
44
INVESTORS’
SUPPLEMENT,
[V o l . XLV,
S e p t e m b e r , 1887.J
MAP OF THE
DETROIT, BAY CITY f|
a l p e n a ar a il r o a d
AND CONNECTIONS.
RAILROAD STOCKS AN D
BONDS«
45
INYESTOßS’
46
SUPPLEMENT,
[You XLV.
Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered In these Tables.
Bonds—Princi INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
pal,When Due.
Amount Rate per
Par
of
When Where Payable, and by Stocks—Last
For explanation of column headings, &c., see notes of
Outstanding
Cent. Payable
Whom.
Road. Bonds Value.
Dividend.
on first page of tables.
Denv. <&B. G.—(Oont’d)—1st mort., gold, sink. f ’d. 295
Consol, mortgage, gold (for $42,000,000)............. 1,317
Denv .<6 R.Qr.Wesl.—1st, g. ($16,000p.m.),cp.or reg. 370
Coupon certificates (see V. 41, p. 2 7 3 )..................
Denver South Park <t Pac.—1st M. gold, sinking fd. i s o
Consol, mort. gold ($17,000 per mile)...................
137
Denver Texas
Gulf—let m ortgage......................... 138
Des Moines dt Ft. Dodge—1st mort., coup., guar.......
88
88
1st mortgage, income, guaranteed by C. R. I. & P.
56
Mortgage on extension, guaranteed by C. R. I. & P.
Des Moines Osceola dt Southern—1st M.($6,000 p.m.) 111
Detroit Bay City & Alp.—1st M., g. ($15,000 p.m .).. 170
189
1st equinment mortgage, guar.................................. 189
189
Consolidated mortgage, guar...................................
65
Detroit Hillsdale & S. W.—Stock........................ ........
Detroit Lansing <£ North.—Stock, common................ 268
268
Preferred stock..........................................................
1st mortgage............................................................... 222
59
Ionia & Lansing, 1st mort., coup., may be reg___
32
Saginaw & West. mort.. guar, ($15,000 per mile)..
53
1st mort. Gr. R. L. <&D., guar. ($20,000 per mile)
143
Dubuque <&Sioux Oily—Stock.....................................
43
1st mortgage, 2d division.........................................
Notes to retire 1st mortg. (redeem at pleasure)..
Duluth <6 Iron Range—1st mortgage.........................
97
1870 $500<sc. $6,382,500
1,000 22,575,000
1886
1,000
6,900,000
1881
300
1885
(1)
1,000
1,800,000
1876
1,000
2,925,000
1880
1877
1869
1883
1887
....
1864
1888
1883
1,000
1,000
1.000
1,000
....
1,000
50
1,000
200 &C.
....
100
100
500 &c.
1.000
1,000
1,000
100
500 &C.
....
....
1st mortgage, gold ($12,000] per mile)..................
Duluth <&Winnipeg—1st mortgage, gold, land grant
1887
1881
1,000
1,000
....
1878
1878
___
....
3,000,000
1,200,000
1,200,000
672,000
879,000
2,300,000
1,500,000
2,000,000
3,200,000
1,350,000
1,825,600
2,510,000
2,487,000
770.000
566,000
1,160,000
4,999,950
586,000
295,000
1,750.000
12,000,000
10,000,000
4,000,000
18,000 p.m.
7.000 p.m.
g. M. & N. N. Y. Office, 47 Wm. st.
do
do
g. J. & J.
g. M. & S. N. Y., 4th National Bk.
M. & S.
do
do
M. & N. N.Y., London& Frankf’t
g. J. & J. N. Y., Co.’s Agency.
5 g. A. &
4
J. &
219 J. &
4
J. &
7
J. &
6 g. J. &
2
A. &
6
A. &
6
2
J. &
F. &
3
313 F. &
7
J. &
J. &
8
6
J. &
5
1 1-10 A. &
7
J. &
5
M. &
6
Nov.
Jan.
Sept.
At
May
Jan.
1, 1900
1, 1936
1, 1911
will.
1, 1905
1, 1921
0. N, Y. Co.’s Agency.
April 1937.
J. N. Y., Morton, B. &Co. Jan. 1, 1905
do
do
J.
June 1, 1905
do
do
J.
June 1, 1905
J. Last paid Jan. 18.85.
1896
J. N. Y., Farm. L.& Tr. Co
1913
Deo. 31, 1884
O. New York & London. Nov. 1 4 ,19Ì8
O.
do
do
Nov. 15,1918
J. N. Y., Farm. L. & Tr. Co July 5, 1887
A.
Boston,
Feb. 15, 1887
A.
do
Aug. 15, 1887
J. Boston, 2d Nat. Bank. Jan. 1, 1907
do
do
J.
July 1, 1889
do
do
July 1, 1913
J.
1927
O. N.Y., John Paton & Co. Sept. 2, 1887
do
do
July, 1894
J.
1888
N.
Philadelphia.
May 1, 1903
New York, Agency.
Jan. 1, 1937
5 g. J. & J.
6 g. M. & N. N. Y., Central Trust Co. May 1, 1911
1886.
bonds, $6,000 per mile. The road was sold in foreclosure March 1,
$
1887. (V. 44, p. 10, 308.)
( 677.697
D etroit B a y City Sc A lpen a—(See Map).—From Alger, on Mich.
572,364 ( ............ Cent. RR., to Alpena, 105 miles; Loon Lake Branch, 18 m,: Mud Lake
(*520,928 Branch, 20 m.; other brauches 27 miles ; total road 170 miles. Has a
225,213
traffic contract from Mich. Central. The mileage operated in 1886 was
Total disbursements.. 2,600,799
............
572,364 1,198,625 83 miles: the gross earnings were $2 42,061; net, $120,420. Stock author
Balance, surplus . . .
132,167
............
1,678,643 1,358,775 ized is $2,000,000, issued $1,670,000. The mort covers road and equip’t
—(V. 43, p. 49, 73, 131, 487, 547, 608, 745; Y. 44, p. 21, 59,117, 211, at $15,000 per mile. From Jan. 1 to July 31 (7 mos.) in 1887 gross
244, 466, 586, 652, 653, 803.)
earnings were $270,059, against $118,212 in 1886; net, $129,45C,
Denver Sc R io Grande Western (narrow gauge).—Tbe mort against $62,560. (V. 43, p. 572; V. 44, p. 308,335, 343,553,621 ; V. 45,
gage covered lines in Utab Territory of about 469 miles in all, of which p. 85.)
tnere were completed to Jan., ’87,312 miles, Colorado State Line to Ogden,
D etroit G rand H a v e n Sc M ilw a u k e e .—Owns from Detroit,
Ut., 312 miles, Bingham Junction to Alta, 18 miles; Bingham Junc Mich., to Grand Haven, Mich., 189 miles. This is a reorganization of
tion to Bingham, 18 miles; P. V. Junction to coal mines 19 miles; other the Detroit & Milwaukee which was sold in foreclosure Sept., 1878.
coal mines, 3 miles—total, 370 miles. The stock issued on 469 miles is The bonds were guaranteed by the Great Western of Canada. From,
$7,500,000. About $1,000,000 bonds have been issued on road only par Jan. 1 to May 31, 1887 (5 mo«.), gross earnings were £95,567 in 1887,
tially completed. In August, 1884, W. H. Bancroft was appointed against £95,418 in 1886: net, £17,370. against £21,227. Gross earn
ings in 1886, $1,244,033; net, $372,773. In 1885, gross, $1,154,640;
receiver o f the D. & R. G. W., but discharged in July, 1886.
Bondholders have generally accepted the proposal of August, 1885, net, $314,860.
viz., that the coupons from Sept. 1,1886, to Sept. 1,1888, inclusive,
D etroit H illsd a le Sc S o u th w estern .—Owns from Ypsilanti,
shall be paid one half in cash and the coupon of March, 1889, three- Mich., to Bankers, Mich., 65 miles. The Det. H. & Ind. road was sold
fourths cash, full interest being resum d with Sept., 1889. Scrip bearing in foreclosure Dec. 28,1874, and this company organized by the bond
5 per cent is given for the coupons to Sept., 1885, and for the portion holders. In Aug., 1881, leased in perpetuity to the Lake Shore & Mich,
unpaid of those up to Sept., 1889, this scrip may be redeemed at com Southern Co.; the rental is $54,000 per year—4 p. et. (V. 43, p. 399.)
pany’s option by payment in full, and no dividend on stock can be paid
D etroit L an sin g & N orth ern .—Owns from Grand Trunk
fill it is redeemed. The full interest; on bonds is $414,000, but under
the plan it was to be $205,689 in 1886, $253,575 in 1887, $263,925 in June., Mich., to Howard City, Mich., 157 miles; branches—Stanton Juno,
1888, $428,283 in 1889, and afterwards $414,000 on the bonds, and 5 to Big Rapids, Mich., 63 miles; Belding Branch, Ha miles; leased, Grand
per cent on the funding certificates amounting to $67,275 per year, Trunk Juno, to Detroit, 3 miles; Lansing to No. Lansing, 1 mile;
Alma to Howard City, 43 miles; total operated, 268 miles. A con
If all the certificates are then outstanding.
In April. 1886, an agreement was made to work harmoniously with solidation, April 11, 1871, of the Detroit Howell & Lansing, the Ionia
& Lansing and the Ionia Stanton & Northern railroads, under the name
the D. & R. G,
The gross earnings for year 1886 were $1,057,093; net, $361,099. of Detroit Lansing & Lake Michigan RR., which was sold in foreclosure
Rental for rolling stock since July, 1886, has been out of the expenses. Dec. 14,1876, and new stock issued as above. In July, 1883, leased
From Jan.l, to July 31 in 1887 (7 mos.) gross earnings were $582,582, the Saginaw & Western aud endorsed the bonds.
In June. 1887, stockholders had the privilege of subscribing at 95 for
against $553,281 in 1886; net, $140,537, against $163,866. (Y. 43, p.
new bonds of the Graud Rap. Lausiug & Det. RR., 57 miles, Grand
73, 244, 634, 636; V. 44, p. 59, 60, 91, 211, 466.)
Ledge to Grand Rapids. (See Voi. 44, p. 713.)
Denver So nth Park Sc Pacific (3 ft.) —(See Map o f Union
Gross earu’s in 1885, $1,228,470; net, $457,199; int., $267,019; div’ds,
Pacific).—Denver, Col., to Nathrop, 137 miles; Nathrop to Gunnison, 65 $175,700; surp., $14,480. Gross earn’s iu 1886, $1,226,536; net, $498,miles; Gunnison to Mount Carbon, 17 miles; Garos to London Junction, 717; int., $265,985; div’ds, $230,465; sur., $2,267. (V. 44, p. 5 8 5 , 713.)
15 miles; Como to Keystone, 35 miles; Bear Creek Junction to Morrison,
D ubuque Sc Siou x City—(See Map o f Illinois Oentral).—Owns
10 miles; Dickey to LeadvUle, 34 miles; Como to Mines, 4 miles;
Bchwanders to Buena Vista, 4 miles; total, 322 miles. Stock owned by from Dubuque, Iowa, to Iowa Fails, 143 miles. The former Dubuque &
Union Pacific is $6,135,100 out of $6,235,400, and consoi. mort. bonds Pacific was foreclosed in 1860, and present company organized. Leased
$2,797,000. The U. P. operates the road, but has made no guaranty o f the to Illinois Central till Oct. 1, 1887, and in April, 1887, the stock was
stock or bonds; on May l, ’87, the interest was defaulted, but paid in July. sold to Illinois Central, and the surplus in hand divided to stockholders.
In 1886 grossearn’s, $1,246,538; def. on operations, $46,304; def. under In May, ’ 87, 5 p. c. in stock of Iowa Land & Loan Co. was paid to stock
interest, &c., $347,804. In 1885 gross earn’s, $1,145,494; def., $16,123; holders. See V. 44, p. 21. (V. 43, p. 766; V. 41, p. 21, 235,362, 433, 627.)
def. under interest, &c., $320,869. (V. 44, p. 586, 627, 657; V. 45, p. 25.)
D u lu th Sc Iro n R a n g e .—Road from Duluth to Vermilion Lake,
Denver Texas Sc Fort W o rth .—-(See Map o f Ft. W. <6 Den. 0 .)— and branch, 97 miles. Sold to a syndicate in Phiia., 1887. (V. 44, p.653.)
Incorporated in 1887 to build from Pueblo, Col., to a connection with the
D u lu th South Shore Sc A tla n tic —(See Jfap).—This company
Fort Worth & Denver, 150 miles. A third rail is being laid over the purcuased at judicial sale October 20,1886, the Detroit Mackinac &
Denv. & R. G. from Pueblo to Trinidad. Capital stock $30,000,000. Marquette Railroad and property running from St. Ignace on the Straits
See Chkonicle of April 16, 1887, V. 44, p. 499.
of Mackinac to Marquette, Mich., 152 miles, tor $1,010,00 », and assumed
Denver Texas Sc Gulf.—(See Map o f Ft. W. <£ Den. O.—Denver to obligations on such purchase which made the whole cost to the D. S. S.
Pueblo, 124 miles, aud 13 miles branches. Built by a construction & A. Company $3,040,000. The D. S. S. & A. Company in December,
company. I n 1883 the construction co. became embarrased and $2,- 1886. bought substantially all the pref. and com. stocks of the Marquette
286,000 bonds and $2,540,000 stock pledged were sold by the MercanHoughton & Onton. RR. Co., operating 160 miles of railroad, and on
tile Trust Co. on Sept. 20. On March, 18, 1886, Den. & N. O. road was Feb. 15,1887, the railroad and property of the M. H. <&O. Co. was leased
«old and this company organized. The company owns extensive ter in perpetuity to the D. 8. S. & A. R’ way Co. Forty-eight miles of new
minal grounds in Denver and coal lands at Franceviile. which are cov road have been constructed from a point near Hendrie on the óld D. M.
ered by the first mortgage. The company has entered into a contract <fc M. east to Sault Ste Marie, where connection is made by bridge now
for consolidation with ihe Denver Texas & Fort Worth RR. Co., now (Aug. 1, ’ 87,) nearly completed with the Canadian Pacific, and with the
constructing, and with the Fort Worth & Denver city RR. Co., now ex Graud Trunk when it reaches the Sault. The D. S. S. & A. line is under
tending noith, which will form a completed through line from Denver construction from a point near Three Lakes on the M. H. & O. RR. west
to Fort Worth, about 800 miles. The stock issued is in hands of a trus ward through the Gogebic Iron region, to a junction with the Northern
tee, to be held till the road is built to the Ft. W. & D. C. RR. Jno. Pacific 32 miles ea.-f of Duluth, Minn., about 180 miles, making a
through line from the Straits or Mackinao to Duluth, of about 400 miles
Evans, Pres’t, Denver.
in length, and from the Sault to Duluth of about the same length. The
Des Moines Sc Fort Dodge.—Owns from Des Moines to Fort securities on the new road are $4,000,000 of first mort., five per cent,
Dodge, Iowa, 87 miles, with an extension 56 miles to Ruthven, con fifty-year gold bonds, to be issued at the rate of $12,000 per mile (see
necting with Chicago Mil. & St. Paul. First 87 miles originally a div abstract of mortgage, V. 45. p. 274;; $12,Oj O,oOO of com. stock and
ision of the Des Moines Valley RR., built in 1870 ana sold ou in $10,0v'0,000 ot pref. 6 p. c. non-cum. stock.
1873. Common stock, $4,283,100; preferred, $763,500.
’ The D. M. & M. security holders on the reor ganization received D. S. S.
In November, 1886, an agreement "was made for lease to the Chicago & A. securities as follows: Each holder of $ 1,000 of L>. M. & M. 1st mort.
Rook Island & Pacific, for 19 years at a rental of 30 per cent of the gross bonds received 6t>23 p. c. thereof in the D. S. 8. & A. 5 p. o. bonds and par
earnings, with a guarantee of 4 per cent interest ou the 1st mortg. and in D. S. S. & A. pref. stock. Each holder of $1,000 of D. .0. & M. income
extension bonds, and 2*s per cent per annum on the incomes, and road bonds received par thereof in D. S. S. & A. pref. stock. Each holder of
was delivered June 2,1887.
D. M. & M. stock received 60 p. c. of his holdings in D. S. 8. & A. com.
In 1886, gross earnings were $339,610, net, $87,395; surplus over stock. Provision was made for the distribution of an amount of D.
int.,&c., $15,870. In 1885, gross earn’s were $382,420; net, $120,420. S. S. & A. com. stock equal to 35 per cent of their par value. Jas.
•Charles E. Whitehead, Pres., 61 Wall St. (V. 43, p. 579,738; V. 44, p. McMillan, Detroit, President; C. S. Brice, New York, Vice-President.
117, 308, 494, 681, 751, 808.)
—(V. 43, p, 274,479,515, 634; V. 44, p. 275,713,751; V. 45, p. 142, 274.)
Des Moines Osceola & Southern. -Projected from Des Moines
Duluth Sc W innipeg. —Projected from Duluth to Manitoba
la., to Kansas City, Mo., 300 miles, of which 111 miles, Des Moines to boundary line, 280 miles. The land grant amounts to 1,800,000 acres,
•Cainsville, Mo., is built. In Aug., ’84, consolidated with Wis. Ia. & Neb. which is subject to the first mortgage. The stock is $5,000,000. Wm.
RR. In April, 1885, a receiver was aonointed. Stock issued, $500,000; W. Spalding, President, Duluth.
Disbursements—
Interest on debt........
Ren’l of D.R.G. W. RR.
Taxes and miscellan’s
1833.
$
2,036,813
q-j n 7Bô
246,234
1884.
$
............
1885.
s
1887
1874
1874
1881
1880
1883
7
4
6
5
7
6
INYESTOKS’
18
SUPPLEMENT,
[ V o l . XLV,
Subscribers w ill couter a great favor by g iv in g im m ediate notice o f an y error discovered In tiiese Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date Size or
Amount
Rate per When Where Payable, and by Stocks—Last
Par Outstanding
of
of
For explanation of column headings, &c.,see notes
Whom.
Dividend.
Payable
Cent.
Road. Bonds Value.
on first page of tables.
Dunkirk AUegh. Valley A Pittsburg—1st mort., gold
2d mortgage.................. >............................................
3d mortgage.......................................................... —
East Broad Top—1st mortgage, registered.............
East Pennsylvania—Stock............... ........ - ................
1st mortgage............................: ........................... --•
East Tennessee Virginia A Georgia—Common stock.
1st preferred stock (5 per ct. non cum.).................
2d preferred stock (5 per ct. non cum.)..................
Consol, mort., gold (for $20,000,000) coup, or reg.
Consol, mort., “ Divisional” b on d s.........................
Old 1st mortgage sinking fund bonds.....................
1st ex-ten. mort. gold. ($20,OoO per mile)...............
Alabama Central, 1st mortgage, gold, cou pon ....
Knoxville & Ohio, 1st mort., gold............................
East A West Ala. -1 s t cons. M., gold ($15,000 p. m.).
Eastern (lias«.)—Stock.................................................
Preferred stock, 6 per cent................................
Essex K R.lst mort. (extended for 5 years in ’86).
Certificates of indebtedness, $ & £ .........................
Debenture bonds............................. ........................
.Eastern (N. PL.)—Stock.................................................
Eel River—Stock............................................................
Elizabeth. Lex. A Big Sandy—1st mortg., gold...........
Elmira Cortland A Northern—1st pref. mort..........
1st mort....................... .............................................
Elmira A Lake Ontario—Stock.. . : ...........................
Sodus Bav & Southern 1st mortgage, gold..........
Elmira A Williamsport—Stock, common..................
Preferred stock.................................................- .......
1st mortgage bonds..................................................
Income bonds, 999 years to run.............................
Erie A Pittsburg—Stock................................................
90
90
90
30
36
36
1.429
1.429
1.123
1.123
552
242
95
20
112
285
16
94
110
120
120
98
34
77
77
77
100
1870
1870
1870
1873
1858
....
1886
1880
1870
1887
1879
1885
1886
1886
1851
1876
1887
1872
1884
1884
1884
1860
1863
2,000,000
1,000,000
200,000
500,000
1,714.950
495,900
27,500,000
11.000,000
18.500.000
1,000 12.770.000
3.106,000
1,000
1,000
3,123,000
1,000,000
1,000
1,000
1,000,000
1,000
2,000,000
1,000
1,709,000
100
4,997,600
100
3,150,000
100 &o.
194.400
500 &c. 10,000,000
700,000
100
492,500
100
2,792,800
1,000
3.282,000
750,000
1,250,000
100
1,500,000
500,000
1,000
50
500,000
50
\ 500,000
1,000
1,000,000
500
570,000
50.
1.998.400
1,000
1,000
1,000
1,000
50
100 &C.
100
100
D u n k ir k A lleg h en y V a lley Sc P ittsb u rg . -Owns from Dun
kirk, N. Y., to Oil City, Pa., 107 miles. A consolidation of the Dunkirk
Warren & Pittsburg and Warren & Venango in 1872. Is leased to N. Y.
Central & Hudson River Co., but accounts are kept separate. Capital,
$1,300,00u. There is usuallv an annual deficit below the interest charge,
but the N. Y Central & Hudson River Co. hold $2,920,000 of the securi
ties. Gross earnings in 1885-86. $2/7,494; deficit under operating
«expenses, $8,847. Gross in 1884-5, $216,7 9 6 ; deficit, $6,769.
E a st B ro a d T o p (P a .)—Owns from Mount Union, Pa., to Robertsdale, Pa., 30 miles. A coal road, opened in 1874. The stock is $815,602,
In 1884-85 gross earnings were $89,070; net, $16,003. In I880-86,
gross. $96,066; net, $V223.
E a st P e n n sy lv an ia .—Owns from Reading, Pa., to Allentown, Pa.,
36 miles. It is leased for 999 years from May 1,1869, to the Philadel
phia & Reading RR., at a rental of 6 per cent per annum on the stock
and interest on the bonds. Austin Corbin, President, Philadelphia.
E a st Tennessee V irg in ia & G eorgia.—(See Wap Rich. A D any.)
—The East Tenn. Va. & Ga. Railroad was formed by a consolidation
July 20,1881, and owns the following: Bristol to Chattanooga, Tenn., 242
miles; Morristown to Unaka, 44 in.; Cleveland to Selma, 264 m.; Selma, to
Meridian, 113 m.; Ooltewab to Coliutta, 11 m.: Rome, Ga.,to Macon. 159
m.; Macon to Brunswick, 190 m.; Cochran to Hawkinsville, 10 in.; total,
1,033 miles. A ho operates the Knoxville & Ohio road, 66 miles, the lines
of the Memphis & Charlest’n RR., from Chattanooga to Memphis, Tenn..
31<t m., and the Florence and Somerville branches, 20 miles, in all330
miles, making a total of 1,429 miles.
,
.
A lease of the Mem. & Char. RR. was an operating lease simply, and
various differences were settled by the acquisition of a majority of the
-capital stock of the Mem. & C. Co. by parties controlling the E. T.Va.&Ga.
The E.T.Va.& Ga. holds a majority of the K. &O. stock.
This company, the E. T. Va. & Ga. Railway Co., was formed in 1886 as
successor of the E. T. Va. & Ga. Railroad, which was sold in foreclosure
May 25, 1886. The first pref. rr. d stock is entitled to a non-cumula ive
dividend of o per cent, and has “ therighi for five years (till 1891) to
elect a majority of the Board of Directors of said company, unless be
fore that time the said oompany should pay out of its net earniugs 5
per cent dividends on such preferred stock for two full successive years ”
In January, 1887, a sale was made of $6, 00,000 of the first pref.
stock to the Richmond & West Point Terminal Company thus givirg
them control of the road for five yeai s unless divi-iends of 5 per cent
are paid on pref. stock for two years. (See V. 44, p. U p.)
The extension mortgage of 1 8 »7 for $15.0<)0.0'>0 is a “ continuing”
■mort gaae to be issued as needed for new acquisitions, at $20,00 j per
mile. (V. 45, p. 3 0 1.)
For the year ending June 30, 1887 (not including Knoxville & Ohio),
gross earnings were $4,368,180, against 3,778,291 in 188 >-6; net, $1,466,u52 in 1886-7, against $1,373,978 in 1885-6; surplus in 188o-7
over interest, divide as and taxes, $81.145.
The fiscal year ends June 30. The annual report for 1885-86 was
published in the Chbonicle, V. 43. p. 6 o 5 :
7 g. J. & D. N.Y., N.Y. Cent. & Hud.
A. & O.
do
do
7
A. & O.
do
do
7
4
J. & J. Philadelp’a, Co.’s Office.
J. & J. Phila., by P. & R. RR.
8
M. & 8 . Phila., P. & R. office.
7
June, 1890
Oct. 1, 1890
Oct. 1. 1890
July 1, 1903
July 19, 1887
Mar. 1, 1888
4
....
Office, 10 WaH Street.
Aug. 1,1887
5 e.
5
7
5 g.
6
6 g.
6 g.
1
3
4*3
6 g.
4*3
2*4
1
6 g.
6
3, 4 ,5
M. & N.
J. & J.
J. & J.
J. & D.
J. & J.
J. & J.
J. & D.
J. & J.
VT. & S.
M. & 8.
M. & S.
M. & S.
J. & D.
Q .-M .
M. & S.
A. & O.
J. & J.
Nov. 1, 1956
July 1, 1930
July 1, 1900
June 1, 1937
July 1. 1918
July 1, 1925
Deo. 1. 1926
Sept. 2,1887
Sept. 1, 1887
Sept. 15,1891
Sept., 1906
Sept. 1.1906
June 15,1887
Aug. 15,1884
Mar. 1,1902
April 1, 1914
April 1, 1914
5 g.
2*3
3*3
6
5
1%
J. & JM. & N.
J. & J.
J. <fe J.
A. & O.
0 ,—M.
N. Y., Central Trust Co.
do
do
do
do
do
do
N. Y., Central Trust Co.
do
do
New York Office.
Boston.
do
do
Boston and London.
Boston. Office.
Boston, by Treasurer.
Boston, by Treasurer.
N. Y., Mills Building.
115 B’way, New York.
do
do
Baltimore, N. Cent. RR.
N. Y. Pa. RR. Agency.
Phila., Penn. R. R. Co.
do
do
do
do
do
do
N. Y., Union Trust Co.
July 1, 1924
May 1, 1887
July 1, 1887
Jan. 1, 1910
Oot. 1. 2862
8ept. 10.1887
fund; to B. & M., $70,000; to Eastern, $336,000; balance to be spent
by lessee on both properties pro-rata. Mortgage notes are $684,300,
secured by real estate.
In Nov., l»86, the oompany'offered to issue preferred 6 per cent stook
in exchange for $3,150,000 of certificates of indebtedness, at par, thus
reducing those certificates to $l<),000,000, to enable the company to
resume dividends on the common stock, according to the agreement
under whioh the cer ittcates were issued.
The annual report for the year ending Sept. 30, 1886, gave the
following result of operation with Boston & Maine. Surplus income
divided, in accordance with the terms of the lease, as follows :
To Bos. & M. To Eastern.
$ ..........
Boston & Maine Railroad (9 p. c .).......................$630,000
Eastern Railroad......................................................................
100,000
Boston & Miine Railroad (1 p. o .).......................... 70,000
........
Eastern Railroad, balance...................................... ............
321,340
............................................... $700,000
$121,340
Total
-(V . 43, p. 579, 634, 671 ; V. 44, p. 149,184, 275 ; V. 45, p. 13.)
Eastern (N . H .) —Owns from Portsmouth, N. H., to Seabrook
(Massachusetts State Line), 16 miles. It was formerly leased for 99
years to the Eastern (Mass.) Railroad, and a new lease was made from
Oct. 1,1878, for 60 years and two months at $22,500 per year, equal to
4*9 per cent per annum. Moody Currier, President, Manchester, N. H.
E el R iv e r.—Owns from Logansport., Ind., to Butler, Ind., 94
miles. This was formerly the Detroit Eel River & Illinois Railroad,
sold under foreclosure July 6, 1877, and reorganized under present
name Dec. 10,1877. In August, 1879, it was leased to the Wabash St.
Louis & Pacific Railroad for 99 years, and is now operated by Wabash
& Western temporarily.
, ’
E lizab eth to w n L ex in gton & B ig Sandy.—(See Map o f New
port Sews A Mississippi Valley)—Road owned January, 1887, Lex
ington to Junction, with A. C. & I. Co., near Denton, 102 miles;
A. C. & l. Junction to Big Sandy River, 7 miles ; total owned 110 mules.
Leased Junction with A. 0. & I. Co., near Denton to A. C. & I. Juno., 21 m.
West Side Big Sandy River to Huntington, 9 miles ; total operated, 139
miles. Charter permits extension to Elizabethtown. It is the connect
ing line of the Chesapeake & Ohio and controlled by the same parties.
From Feb. 1, 1886, this road was leased for 250 years to the Newport
News & Miss. Valley Co. on the basis of paying the annual net surplus,
if any, to this company. Authorized capital is $5,000,000. Amount
issued $3,509,695. From Jan. 1.1887 to July 31 (seven mouths), gross
earnings were $->82,721, against $489,322 in 18 -<6; net, $186,631,
against $161.245. For year 1886 gross earnings were $93.,529; net,
$333,616; rentals and taxes, $48,266; interest, $196,920; surplus, $24,9 70. (V. 44, p. 90, 343, 344.)
R lm ir a C o r t la n d & N o r t h e r n .—Elmira. N. Y., to ^anastota, N.
as'at present. The 1st mort. for $1,250,000 bears 3 p. ct. for 3 years, 4
1886-87.
1885-86.
p. ct. for 2 years, then ->p.ct. Stock is $2,000,000. Gross earnings in
$3,778,291 $4,368,180 1885-->6, $369,26’q net income, $29,931; interest, taxes, &c., $66,812;
Net earnings................................. $1,140,589 $1,261,000 $1,354,489 def , $36,882. Austin Corbin. President. New York Citv.
E lm ira Sc Lake O n t a r io .-Owns from Canandaigua, N. Y., to
Disbursements—
$833,343 Watkins, N. Y., 47 miles; to Chemung Junction, 17in miles; Sodus
Interest on debt.............................. $1,468,651
440,000 Point to Stanle 7 34 m iles-total, 98 miles. This company was a con
Dividend on 1st pref. stock.........
............
solidation in December, 1880, of tfie Elmira Jefferson & Canandaigua,
Other payments.............................
209,967
Total disbursem’ts.................... $1,678,618
.......... $1,273,3 J3 the Sodus Bay & Southern and the Chemung Railroads, with stock and
bon is as above. It is leased at cost of operating to the Northern Cen
Balance ......................................... def.$390.275
............sur. $81,146
The Knoxville & Ohio gress earnings in 1886-7 were $408,517 and tral, whioh controls the stock.
E lm ir a Sc W il lia m s p o r t .—Owns rrom Williamsport, Pa., to
net $152,719.
—(V. 43, p. 22,125, 217, 598, 6 0 5 , 607, 634, 718. 619: V. 44, p. 90, Elmira, N. Y., 77 miles. This company was reorganized under the
present
name Feb. 29,1860, and leased to the Northern Central Rail
119,149, 184, 211, 343, 494, 621, 751; V. 45, p. 53,271, 272,304.)
way for 999 years from May 1,1863, at a rental of $15:1,500 per annum
E ast Sc W e s t R R . Co. o f A la b a m a .—Road will extend from after Jan. 1,1880. The dividends on the common stock are 5 per cent
Gainesville, Ga., to Birmingham. Ala., and branches, 207 miles, of which and on the preferred 7 per cent. Gross earnings in 1884-o, $744,685 ;
completed to June, 1887,112 miles; an extension of 93 miles is also con net, $273,730; surplus to lessee, $95,372. Gross earnings in 1885-6,
templated. In August, 1887, the road was completed from Cartersvitle, $765,559; net $226,008; surplus to lessee, $47,848.
Ga., to Pell City, Ala., 128 miles. The above bonds were issued in 1887
Erie Sc P ittsb u rg.—ow ns from New Castle, Pa., to Girard, Pa>.,
to take up $800,000 of prior first mortgage bunds and $5> 0,0 »0 of de
bentures outstanding. Stook (authorized), $2,000.000, issued at the rate 82 miles; branch. Dock Junction to Erie Docks, 3 miles; leased—
-of $ 10,000 per mile of completed road. From Deo. 1, 1886, to May 30, Girard to Erie, 15 miles; total operated, 100 mdes. Road opened in 18651887 (6 months), gross earnings were $73,500; net earnings, $39,000; Ttwas leased to the Pennsylvania RR. for 999 years from Maroh 1,
«urplus over interest, $e,000. E. F. Browning, Pres’t, 408 Broome 1870. at a rental of 7 per cent on stook and interest on the bonds,
and the lease was transferred to the Pennsylvania Co. The lease has
Street, N. Y. (V. 44, p. 621; V. 45, p. 211, 240.)
beenauite unprofitable to the lessees; the deficiency paid by them in
E astern (M ass.)—Owns from Boston, Mass., to New Hampshire 1881 was$233.522; in 1882, $207.651 in 1883. $260,071; in 1884,
State Line, 41 miles; branches—Salem to Marblehead, 4 miles ; Sever $307,841; in 1885, $354,633; and in 1886, $225,794.
ley to Gloucester, 17 miles ; Salisbury to Amesbury, 4 miles; Revere
E u rek a S p r in g s .—Road extends from Seligman, Mo., to Eureka
to East Boston, 3 qj miles; Peabody to Wakefield, 8 miles; Salem
to Lawrence, 2 0 miles; others, 22 miles; leased—Eastern RR. of N. H., 16 SnriugH, Ark.. IS1« miles; n ojected to H-irrisen, Ark.. 50 miles beyond.
The
capital stock is $500.000. There are also non-cumulat ve 6 per
miles; Newburyport City RR., 3 miles; Portland Saco & Portsmouth, 51
miles, Portsmouth & Dover, 11 miles; Portsm. Gt. Falls & Conway, 73 cent income bonds, on which interest at an average of 4*2 per cent has
b-en
paid. There is a traffic contract with St. L >uia & San Francisco.
miles; Wolfeboro Railroad, 12 miles; total operated, 285 miles.
In March, 1883, a lease of this road to the Boston & Maine was voted
"E
u
r
o p e a n 3* N orth A m erica n . — Owns from Bangor, Me.,
for fifty-five years, butin November, 1884, this lease was decided to be
illegal in some respects, and a new one was negotiated for 54 years to Vanceboro (State Line), Me.. 114 miles. On Aug. 31, 1882, a lease
was
made
to the Maine Central for 99 years, for $125,000 per annum,
from Oct. 1,1883, on the basis of combining the total earnings, paying
all charges, and dividing the surplus income as follows : 1. To B. & M., equal to 5 per cent per annum on the stock, and assuming the bonded
$630,000 (9 per cent on its stock) ; to Eastern, $100,000 for sinking debt of $1,000,000, whioh is given under Maine Central.
INCOME ACCOUNT.
Receipts—
Total gross earnings.......................
1884-85.
$4,021,567
BONDS.
STOCKS AND
S eptember ,
1887.]
RAILROAD
M. J[£ia<**.Sta, j
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MAP OF THE
FOET AND
WOETH
DENVEECITY
RAILWAY 4 CONNECTIONS.
jOuaymas------------- <--------_----------------------
_
|
INVESTOKS’
50
SUPPLEMENT.
[V ol. XLY.
Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered in these Tables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
Par Outstanding
of
For explanation of column headings, &c., see notes of
Where Payable, and by Stocks—Last
Cent. Payable
Road. Bonds Value.
on first page of tables.
Whom.
Dividend.
$91,800
7
A. & 0 . N. Y.. Union Trust Co.
Erie (6 Pittsburg—(Contin’d) —2d mort., convertible 81ia 1865 $l00&c
685,000
1,000
7
A. & O.
do
do
Equipment b o n d s .......................................................
100 1870
2,485,000
1,000
7
J. & J.
Consol, mort. free of State tax (for $4,500,000)... 100 1868
do
do
500,000
Eureka Springs—1st M., gold, coup, may be reg__
1883
6 g- F. & A. N. Y., Mercantile Tr. Co.
2,500,000
100
European <&No.American—Stock, guar. 5 per c t___ 114
2*3 A. & O.
Bangor.
699,000
1,000
Evansville <6 Indianapolis—1st mort., E. & I. gold..
54 1884
6 g. J. & J. N.Y.. Farm. L. & Tr. Co.
....
260,000
M. & S.
7
Terre Haute <fc Southeastern—1st mort...................
do
do
40 1879
1,001,000
1,000
Ev. & Ind. Cons. mort. (for $2,500,000) gold, guar 135 1886
do
do
6 g. J. & J.
50
3,000,000
Evansville <6 T. Haute—Stock......................................
146
Q .-J .
Company’s Office.
1*4
1,000
606,000
M. & N. N.Y.,Farm. L’an& T.Co.
7
1st mort.Evans.A Cr..sink.fund,(Evansv.toT.H.) 109 1854
1,000
2,394,000
6 g. J. & J.
144 1881
1st consol, mort., gold (for $3,500,000)................
do
do
1,000
200,000
1st mort., Mt Vernon Branch, gold (for $375,000)
25 1883
6 g. A. & O.
do
do
1,000
775,000
M.
&
N.
Evansville Terre H . <6 Chic—1st M., gold, int. guar..
55 1870
6 g.
N.Y.,Farm.L’an & T.Co.
1,000
325,000
2d mortgage, gold.....................................................
55 1872
do
do
6 g. J. & J.
100
7,000,000
Fitchburg—Common stock........................................... 370
12,461,300
2
M. & N.
Preferred 4 per cent stock.......................................
Boston, Office
5,000.000
3 to 4 F. & A.
Bonds to State of Mass. (3 p. ct. int. till 1891.)...
6,000,000 4, 5, 6 7 A. & O.
’74-’87 1,000
Bonds, cou pon s.........................................................
Boat an, Office.
391,000
Boston Barre & Gardner, 1st m ortgage................ 38*3 1873 100 &o.
5 & 7 A. & O. Worcester, City Nat. Bk.
....
186,300
1875
do
2d mortgage...................................
3
J. & J.
do
do
....
57,300
1875
do
3dmortg. (convertible into stock)
6
J. & J.
do
do
....
6,500,000
Flint <& Pere Marquette—Preferred stock.................. 361
3
J. & J. N. Y., Mer. Ex. Nat. Bk.
1,000
Reorganization mortgage, gold ($5,000,000)........ 302 1880
3,999,000
do
do
6 g. A. & O.
300,000
Flint <fc Holly R R .......................................................
17 1868 500 &e.
10
M. & N. N.Y., Merch. Nat. Bank.
1,000
Holly Wayne & Mon., 1st mort., sink, fund, guar.
1,000,000
65 1871
8
J. & J.
do
do
1,000
2,808,000
Florida Railway <t Nav.—F. C. <&W., 1st mort.. gold 234 1882
5_g. J. & J. Last paid, Jan., 1895.
1,000
Florida Transit—1st mortgage................................
1,000,00)
6
155 1881
M. & S. Last paid, March, 1885.
1,000
Peninsular of Florida—1st mortgage.....................
50 1876
250,000
7
J. & J. Last paid. Jan., 1835.
1,000
4,042,000
Fla.Ry,& Nav., consol, mort. gold........................... 530 1884
6 g- Q .-J . Last paid, July, 1885.
1,000
380,000
24 1883
Fernandina & Jacksonville.......... ...........................
6
J. & J. Last paid, Jan., 1885.
2,121,000
Florida Southern—1st mortgage, ($12,000 per mile) 180 1883 100 &c.
6
J. & J.
Boston, Office.
801,500
Charlotte Harbor Div., 1st m., gold, $10,000 p. m.
81 1885 100 &e.
do
6 g. A. & O.
E v an sv ille & In d ia n ap olis.—Owns from Evansville, Ind., to
Terre Haute, Ind. (via Worthington), 135 miles; branch to Lancaster, 3
miles; total, 138 miles. This company was a consolidation in Oct. ’85,
of three corporations, viz.: the Evansville & Indianapolis, the Evansville
Wash. & Brazil and the Terre Haute & Southeastern railroads. Of the
consolidated mort. bonds, $1,260,000 are reserved to meet prior liens.
The consolidated bonds are guaranteed by the Evansville & Terre
Haute Co. Capital stock, $2,000,000. Edwin Taylor, President. (V.
45, p. 26.)
E v an sv ille & Terre H a u te. —Owns from Evansville, Ind., to
Terre Haute, Ind., 109 miles; Owensville branch and extension, 37
miles; total operated, 146 miles. The Rockville Extension, 23 miles
additional, is leased to the Terre Haute & Logansport for 99 years from
Nov. 1,1879. Formerly the Evansville & Crawfordsville RR. Co. The
20 per cent stock dividend of 1884 was the distribution of $500,000
which had been held for some time in the treasury. To meet the bonds
falling due in Nov.,1887, the Co. has $606,000 of the cons, bonds. Annual
report for 1885-6 in V. 43, p. 486. Gross earnings year ending Aug.
31, 1886. $761,981; net, $386,801; in 1884-85, gross, $718,823; ne/t,
$357,600. (V. 43, p. 458, 4 8 6 ; Y. 45, p. 26.)
E v an sv ille Terre H au te & Cliicago . —fSee Map of Chicago
«6 East Illinois RR.)—Owns from Terre Haute Junction, Ind., to Dan
ville, HI., 49 miles; leased, 6 miles; total operated, 55 miles, It uses 6
miles of the track of the Rockville Extension into Terre Haute; also
leases the Indiana Block Coal road, 15 miles. On April, 30,1880, a
lease to the Chicago & Eastern Illinois was made for 999 years; terms,
$75,000 per annum and the assumption by the C. & E. I. of all rentals
and taxes paid by E. T. H. & C. The bonded interest was reduced to 6
per cent and preferred stock for $100,000 issued for overdue coupons;
common stock, $600,000. Josephus Collett, President, Terre Haute, Ind.
F itclib u rg .—Owns from Boston, Mass., to Fitchburg, Mass, (double
track), 50 miles; from Greenfield to Massachusetts State line (double
track), 44 miles; and B. Barre & Gard. RR., Worcester to Wiucliendon, 36 miles; branches—Charlestown, 1 mile; North Cambridge
to Waltham, 8 miles; South Acton to Marlborough, 12 miles;
Peterborough & Shirley, Ayer, Mass., to Greenville, 24 miles; Ashburnham branch, 3 miles; leased and operated—Vermont & Mass. RR.,
Fitchburg to Greenfield, 56 miles; Turners Falls Branch, 3 miles; Troy
& Boston RR., Massachusetts State line to Troy, N. Y., 41 miles, and
branches. 5 m.; Boston Hoo.iac Tunnel & West., Mass. State line to Rot
terdam, 61 m., and branches, 26 m.; total to Sept. 30, 1886, 370 miles.
The present company was formed by consolidation in ’87 of the Fitch
burg RR.. the Troy & Greenfield RR. and the Hoosac Tunnel, the latter
purchased from the State of Massachusetts (See V. 44, p. 59.) A con
tract for the purchase of the Troy & Boston railroad was also made of
which the terms werelmentioned in Y. 44, p. 544. The Hoosac Tunnel
Dock & Elevator Co. was taken in also for $1,512,500 of the Fitchburg
stock, and the Boston Hoosac Tunnel & Western road was purchased
for $3,600,000 preferred stock and $2,000,000 common stock, subject
to debenture bonds amounting to $1,400,000.
The preferred stock, 4 per cent, was to be $7,048,800, and common
$5,000,000. No official information has been obtainable since the
consolidation was made, but an approximate estimate of the company’s
situation was in V. 45, p. 239. The fiscal year ends Sept. 30, and at that
date the balance sheet will be made up.
The income account for four years (ending Sept. 30) w as:
INCOME ACCOUNT.
1882-83.
1883-84.
1884-85.
1885-86
Receipts—
$
$
$
$
Gross earnings........
2,798,157 2,820,119
2,858,678
3,295,289
Net earnings............
670,737
666,752
673,159
735,624
107,000
58,500
Premiums and rents
71,130
104,253
Total incom e_____
777,737
725,252
744,289
839,877
Disbursements—
230,164
Rentals p a id ............
246,809
252,581
256,480
Interest on debt.......
177,500
200,000
220,688
260,763
Other interest..........
51,225
12,332
Dividends.................
297,000
272,250
247,500
264,331
Rate of dividend. . . .
(5*3)
(6)
(5)
(5)
Total disbursem’ts
755,889
731,391
720,769
78i,574
Balance..................... surp.21,848
def.6,139 sur.23,520 sur.58,303
—(V. 43, p. 607, 746 ; V. 44, p. 59, 119, 1 4 8 , 421, 434, 494 , 544, 681;
V. 45, p. 178, 239.)
F lin t & Pere M arqu ette.—Owns from Monroe, Mich., to Ludington, Mich., 253 tf les; branches—Bay City to East Saginaw, 12
m iles; Flint Junction to Otter Lake, 20 miles; South Saginaw branch,
5 miles; Harrison branch, 30 miles; Manistee branch, 26 miles;
Saginaw & Mount Pleasant Railroad, 15 miles; total operated,
362 miles. The road was sold August 18, 1880, under the consol
idated mortgage, and reorganization was made. The common stock of
$3,500,000 has no present right to vote or to receive dividends, and
will be issued only after the preferred stockholders have received 7
per cent yearly dividends for five consecutive years. The preferred
stock is not cumulative, and after 7 per cent per annum is paid on both
classes of stock, the balance of income, if any, is to be divided ratably.
In 1886 the common stockholders took steps looking to the relief of
their stock from its onerous limitations, owing to the payment of divi
dends on the preferred stock at 7 per cent for a few years and then
at a reduced rate.
Mar. 1, 1890
Oct. 1, 1900
July 1, 1898
Feb. 1, 1933
Oct. 15, 1887
July 1, 1924
Sept. 1,1909
Jan. 1, 1926
July 15, 1887
Nov. 1, 1887
July 1, 1921
April 1, 1923
May 1, 1900
Jan. 1, 1902
May "57 1887
1937*
1894 to 1905
April 1, 1893
July 1, 1895
July 1, 1895
July 15,1887
Oct. 1, 1920
Mav 1, 1888
Jan. 1, 1901
April 1, 1922
Mar. 1, 1911
May 24, 1906
July 1, 1924
July 1, 1923
July 1, 1923
Oct. 1, 1925
On Jan. 1, 1887, the land notes (principal and interest) on hand for
lands sold were $285,582, and lands yet uusold 89,014 acres. The
total amount of cash collected in 1886 was $173,818. Annual report for
1886. in V. 44. p. 550. Earnings and operations for four years past were:
INCOME ACCOUNT.
1883.
1884.
1885.
1886.
Gross earnings........
2,542,943
2,252,988
1,946,790 2,160,771
Net earnings............
807,426
737,527
598,950
649,669
Disbursements—
Interest on debt.......
318,623
337,223
329,499
*322,910
D ividends...............
455,000
455,000
260,000
325,000
Miscellaneous..........
4,226
Total disbursem’ts.
773,623
792,223
593,725
647,910
Balance for the year. sur. 33.803 def. 54,696 sur. 5,225
sur. 1,759
Less interest, &c., received.
—(V. 43, p. 49; V. 44, p. 117, 434, 526, 550.)
F lo r id a R a ilw a y <fc N a v ig a tion .—Miles owned in 1886:
Jacksonville to Chattahoochee, 209 miles, and branches from Talla
hassee to St. Marks, 21 miles; and from Drifton to Montioello, 4 m.;
Fernandina south, 179 m iles; Waldo to Cedar Keys, 72 miles; Wild
wood to Leesburg, 23 miles; Hart’s road to Jacksonville. 25 m.:
total, 532 miles. In June, 1887, opened the extension to Plant City,
making a short route from Jacksonville. In March, 1884, the Florida
Central & Western, Florida Transit & Peninsular, Fernandina & Jack
sonville and the Leesburg <& Indian River railroads were consolidated
under this name. There have been issued $16,000 6 per cent consoli
dated bonds, with $13,000 of preferred and $13,000 of common stock
on each mile constructed and equipped. Of the above F. C. & W.
bonds $1,000,000 are a preferred^ lien “ series A,” the balance of the
issue being known as “ series B.” In Oct., 1885, a receiver (Mr. H. R.
Duval) was appointed for the whole property, and in June, 1887, the
sale of the property was ordered for the first Monday in November.
B. S. Henning. President, N. Y. City. Gro3S earnings for 1884, $1,001,590; net, $385,198; interest, $343,900. (V. 44, p. 4§4, 8)8.)
F lo rid a Southern (Narrow-gauge).—Owns from Palatka, Fla., to
Gainesville, 50 in.; Rochelle to Leesburg to Brookville, 106 in.; Bartow
to Charlotte Harbor, 81 m.; Leesburg to Astor, 50 m.; other Branches,
23 m.; total owned, 310 miles. Capital stock, $10,090 per mile. There
are also $285,000 bonds of the St. John & Lake Eustis RR., 50 m., guar
anteed by this Co. Company has a State land grant of 13,8 40 acres per
mile. J. W. Candler, Pres., Boston.
F o n d a J o h n sto w n & G lov ersv ille.—Owns from Fonda to
Northville, 26 miles. The stock is $300,000. Gross earnings in
1885-86, $163,664; net, $76,325; surplus over all charges and 10 per
cent dividend, $13,316. Gross earnings in 1884-85, $160,324; net,
$68,568; surplus over charges and 9*3 per cent dividend, $8,364. W.
J. Heacock, President, Gloversville, N. Y.
F o rt M adison & N orth w estern .—Narrow gauge road from Fort
Madison, la., to McKee, la., about 45 miles. Stock, $425,600. De
fault on bonds was made October, 1884, and in July, 1885, a receiver
took possession, and it was proposed to issue new bonds at $14,000 per
mile, change the gauge and complete the full line of 100 miles and
retire old bonds by some settlement with the holders, either giving them
the new bonds or otherwise. Foreclosure proceedings are pending. C.
A. Gilchrist, Receiver, Fort Madison, Iowa.
F o rt W a y n e & J a c k so n ,—Owns from Jackson, Mich., to Fort
Wayne, Ind, 97 miles. The former Fort Wayne Jackson & Saginaw made
default on its bonds and was sold in foreclosure Dec. 3,1879. On Sept.
1,1882, leased perpetually to Lake Shore & Mich. Southern at a rental of
$126,027, equal to 5*3 per cent on the pref. stock, and after 1887 any
net earnings over 8 per cent on pref. stock to be paid as dividend on
common stock, but not exceeding 2 per cent a year.
F o rt W a y n e C incinnati & L o u isv ille .—From Fort Wayne,
Ind., to Connorsville, Ind., 104 miles; branch to Rushville, Ind., 24
miles; total'operated, 128 miles. The Fort Wayne Muncie <fe Cincin
nati Co. defaulted and a receiver was appointed Nov., 1874. The road
was sold in foreclosure, July 27, 1881, to Elijah Smith, for the bond
holders, for $1,000,000. The bondholders reorganized under this name.
There are $100,000 notes, due 1893. Gross earnings in 1886, $271,561;
net, $58,241. Gross in 1885, $227,841; net, $22,509; interest paid,
$7.000. Elijah Smith, Pres’t, N. Y.
F o rt W o r th & D enver City.—(See Mop)—From Fort Worth, Tex.,
northwest, to Quanah, Tex., and beyond, 245 miles; has been completed
to 106 miles west of Quanah, but not yet in operation. Stock, $20,000
per mile, $6,400,000; par value of shares, $100. Total stock author
ized, $20,000,000. Bonds were authorized at $25,000 per m. for the 200
miles to near Quanah, but beyond that point to be issued at $16,000 p. m.,
making the whole road average $18,000 per mile. They were actually
issued at the first rate only to Harrold, 144 m iles; beyond at $ 16,000
per mile. The road is under construction to the State line to form a
junction with the Denver Texas & Fort Worth, and thereby constitute a
through line from Denver via Fort Worth to Galveston and New Orleans.
Gross"earnings year ending Oct. 31, 1888, $423,180; net, $175,074;
fixed charges $165,000 ; surplus, $10,074. From Nov. 1,1886, to July
31,1887 (9 months), gross earnings were $457,343, against $281,912
in 1885-6 ; net, $194,974, against $99,245. Morgan Jones, Pres., Fort
Worth.—(V. 44, p. 60, 90, 184. 211, 308, 392, 400, 434, 499, 526, 55H
681, 808; V. 45, p. 25, 85,142, 166, 272, 342.)
_
——
Si
i l l UMBER, 1887. J
RAILROAD STOCKS AND BONDS.
3 1
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered in these Tables.
Bo ndt>—Trine!
DESCRIPTION.
INTEREST OR DIVIDENDS.
pal,When Due<
Miles Date Size, or
Amount
Stoclcs—Last
Where
Payable,
and
by
For explanation of column headings, &c., see note8 of
of
Par
Rate per When
Dividend.
Whom.
on first page of tables.
Road. Bonds Value. Outstanding
Cent. Payable
Fonda Johnstown <&Gloversville—1st m ortgage.......
10 1870 $100&c.
Consol, mortgage.......................................................
26 1880 100 &c.
to r t Madison <&Northwestern—1st mort., gold........
45 1880 500&C.
Fort Wayne <fi Jackson—Pref. stock, (8 per cent)___
97
....
—
Common stock............................................................
97
Fort Wayne Cincinnati <& Louisville—Stock..... .......
128
Fort Worth & Dcnv. City—1st M., gold ......................
322 1881
l'.ÓOO
Frederick <&Pennsylvania Line—1st mortgage........
28 1870 500 &o.
256
Galveston Harrisb.d S.Antonio—1st mort, gold, 1. gr.
’71-’80 1,000
2d mortgage................................................................ 226 1880
1,000
Western Division, 1st mortgage, gold.................. 671 1881
1,000
do
do
2d mortgage.......... 671 1881
1,000
50 1833
Galveston Houston Hend. o f 1882—1st mort.,guar
1,000
35 1870 100 &c.
Geneva Ithaca <&Sayre—1st mort., s. f., gold...........
98 1886
Georgia Midland <&Qulf—1st mort. ($15,000 p. m.).
1,000
1,000
Georgia Pacific—1st mort., $10,000 per mile.......... 313 1882
202 1883
1,000
2d mort., income, cumulative ($15,000 p. m .)---307
100
Georgia Railroad & Banking Co.—Stock........ .— ..
1,000
Bonds, not mortgage.................................................
77&80 1.000
Bonds, not mortgage ($300,000 mature in 1922)..
1887
1,000
Bonds, not mortgage.................................................
599
100
Grand Rapids & Indiana—Stock...............................
367 1869
1,000
1st mort., land grant, gold (guar, by Pa. RR)
367
1,000
1869
1st mort., gold, ($675,000 are land grant).............
367 1884
1,000
Six per cent mortgage................ .............................
1,000
Consol, mortgage for $13,000,000, coup, and reg. 367 1884
42 1886
1,000
Mortgage (gold, on Muskegon Division............. .
219 1881
1,000
Green Bay Winona <£St. Paul—1st mort. coup.......
1886
Funded coupon bonds................................ .............
1,000
2d mort. income bonds, reg.. non-cumulative . . . . . 219 1881
1,000
Gulf Colorado & Santa Fe—1st M., g. ($12,000 p.m.; 1,002 1879
1,000
2d mortgage ($8,000 per mile), gold...................... 1,002 1885
F red erick Sc P en n sy lv an ia B in e.—Owns from Kingsdale to
Frederick City, Md.. 28 miles. It is leased to Pennsylvania RR., which
pays interest on first mortgage. Preferred stock held by Pennsylvania
RR., $461,000; common stock, $318,100; floating debt, (coupons, &c.),
*184,€45. Gross earnings in 1886, $53,312; net, $1,975. Charles E.
Trail, President, Frederick City, Md.
G alv eston H arrisb u rg Sc San A n to n io .—(-See Map o f Southern
Pacific.)—Owns from Houston, Texas, to San Antonio, Texas, 217 miles
BaGrange Extension, 28 miles; Harrisburg to Pierce Junction, 8 miles;
leased, Harwood to Gonzales, 12 miles; total, 266 miles. Western Ex
tension, San Antonio to Rio Grande River, connecting with Southern
Pacific, 636 miles; Eagle Pass Branch, 35 miles; total Western Exten
aion, 661 miles. Grand total, 936 miles. The extensions to the Rio
Grande at Eagle Pass and to El Paso were completed late in 1882.
This company was successor to the Buffalo Bayou Brazos & Col. Rail
way in 1870. The capital stock outstanding ou the whole road is
$27,084,372. The 1st mort. covers 256 miles of old road and 1,500,000
acres of 1and. The proceeds of land sales are used to retire the bonds,
and also a sinking fund of 1 per cent, but it is optional with bond
holders to surrender their bonds, if drawn. Of the second mortgage
bonds due 1931, the company holds $355,000. There is also $207,162
Texas school debt outstanding. In June, 1881, a large Interest in
the stock was bought by Southern Pacific parties. The mortgages
©n the Mexican Pacific extension cover 636 miles of road, from
San Antonio to El Paso, and the Eagle Pass branch, 35 miles—671
in all. The land grant is sixteen sections (10,240 acres) per mile.
On Feb. 10,1885, this property was leased for 99 years to theSouthem
Pacific Company, ihe lessee agreeing to pay interest on the debt, and
a further sum equal to 1614 per cent of the net profits on the whole
Southern Pacific system.
From January 1 to July 31 in 1887 (7 months), gross earnings were
*1,810,397. agaimt $1,469,915 in 1886; net, $208,368, against $158,109 in 1886. The annual report was in V. 44, p. 750. Earnings and
Income account for two years were:
1836.
1885.
$3,199,077
Gross earnings............................................... $2,599,462
Operating expenses....................................... 2,322,423
1,704,970
$1,494,107
Net.............................................................. $277,039
54,900
Rental received from T. & P. R. R . . . ........ ..........54,900
$1,549,007
Total surplus..................... . . . . . . . . . . . . . $331,939
61,555
T a xes................................................................
51,771
68,444
Additions and betterments ..........................
83,168
1,384,245
interest on bonded debt............................... 1,402,886
14,965
Interest on State of Texas debt....................
27,44 i
19,601
Old claims.............................
20,546
Total payments........................................ $1,585,814
$1,548,810
Balance................................................def. $1,253,877
sur. $196
—(V. 44, p. 314, 7 5 0 .)
G alveston H o u sto n & H en derson o f 1 8 8 2 .—Owns from Gal
veston, Texas, to Houston, Texas, 50 miles. The road was opened in
1853-4 and sold in foreclosure Dec. 1, 1871, and reorganized as the G.
H. & H. of 1871. In July, 1880, the company def aulted on its interest
and the road was sold in foreclosure Aug. 1, 1882, for $460,000, and
purchased in the interest of Jay Gould and Russell Sage. The bond
holders, by agreement with the purchasers, received new 5 per cent
bonds for their old bonds, and the road is leased for 99 years, to the
International & Great Northern Railroad Company and bonds guaran
teed by that company. Stock of the new company is $1,000,000. In
1886 gross earnings were $401,031; expenses, $395,355; net, $5,6 6;
interest and taxes, $118,467. In 1885, gross, $322,242; net, $42,356.
—(V. 44, p. 4 0 0 .)
G eneva Ith a c a Sc Sayre.—Owns from Geneva, N. 1 ., to Sayre,
Pa., 75 miles; branch, Ithaca, N. Y., to Cayuga, N. Y., 38 miles;
Hayt’s Corners branch (leased), 3 miles; total operated, 116 miles;
Organized October 2, 1876, as successor of the Geneva Ithaca &
Athens Railroad (sold in foreclosure September 2, 1876), which had
been formed by consolidation of the Geneva & Ithaca and Ithaca &
Athens railroads, May 25,1874. In 1880 absorbed the Cayuga & South.
RR., 37 miles. The common stock is $1,275,000; preferred, $400,000
Gross earningsyear ending »«pt. 30, 1885, $354,884; deficit, $83,023;
interest, taxes, &e., $80,2 47;total deficit, $163,270. In 1885-86, gross.
$412,128; net, $46,122; interest payments, $81,630; deficit, $35,507.
G eorgia M id la n d & G u lf.—Road' built from Columbus, Ga., to
McDonough, 98 miles; projected to Athens, Ga., 68 miles more. Stock,
$12,000 per mile. Operated by the Georgia Alidland Construction Co.
N. Y. office, 7 Nassau Street.
G eorgia P a c if ic .—(See Map o f Richmond <& Danville.)—Atlanta,
Ga., to Starkville, Miss., 316 miles; Greenville, Miss., to Johnsonville
and branch (N. G.), 52 miles; total, 368 miles. The Georgia Pacific has
been built by Richmond & Danville Extension Company, and oper
ated in the R. & D. system. The capital stock is $7,000,000. Interest
on income bonds is cumulative. Gross earnings year ending Sept. 30,
1886, were $784,811 and net, $221,042. There are $279,802 car trust
notes. The annual report was in Y. 43, p. 745.—(V. 43, p. 334, 7 4 5 ;
Y . 44, p. 499.)
G eorgia R a ilro a d & R a n k in g Co.—Augusta, Ga., to Atlanta,
Ga., 171 miles; branches to Washington and Athens,60 miles; Warren-
$300,000
200,000
320,000
2,287,832
431,747
4,000,000
6,448,000
250,000
4,756,000
1,000,000
13,418,000
6,354.000
2,000,000
600,000
1,470,000
3,173,000
3,901,000
4,200,000
100,000
2.300,000
200,000
4,985,081
3,934,000
1,441,000
2,700,000
3,217,000
750,000
1,600,000
280,830
3,781,000
11,724,000
6,00t,000
7
6
7 g.
2%
J. &
A. &
A. &
M. &
J. N. Y., St. Nich. Nat. B’k.
do
do
O.
O. Last paid April, 1833.
S. NY.,Farmers’ L.&Tr.Co
6
6
6
7
5
6
5
7
6
6
6
N. Y., Mercantile Tr. Co.
Pennsylvania RR. Co.
N.Y., South. Pacific Co.
do
do
do
do
do
do
New York.
Phila., Company’s office.
Columbus, Ga., Offke.
N. Y „ Central Trust Co.
N. Y.,Metropol’nTr. Co.
Am.Ex.Bk., N.Y.,&Aug
do
do
do
do
do
do
7
7
6
5
5
6
6
8
7
6
g. J. & J. N. Y., Winslow, L. & Co.
do
do
g. A. & O.
M. & N.
do
do
do
do
M. & S.
do
do
g- J. & J.
F. & A. N. y.Farmers’ L.&Tr.Co
do
do
F. & A.
Noue ever paid.
M. & N.
g. J. & J. N. Y.. Nat .City Bank.
do
do
g. A. & 0.
g. J. & D.
A. & O.
g. F. & A.
J. & D.
g. M. & N.
J. & J.
A. & O.
g. J. & J.
g. J. & J.
J. & J.
A. & O.
Q .-J .
2%
7
I. & J.
6
J. & J .
J. & J.
5
July 1,
May 1,
April 1,
Sept. 1,
1900
1921
1905
1887
Dec. 1, 1921
Oct. 1, 1900
Feb. 1, 1910
June 1, 1905
May 1, 1931
July 1, 1931
April 1, 1913
July 1, 1890
July 1, 1926Jan. 1, 1922
Oct. 1, 1923
April 15, 1887
Jan. 1, 1890
’97,1910,1922
Jan. 1, 1922
Oct.
Oct.
Nov.
Sept.
July
Feb,
Aug.
May
July
Oct,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1899
1890
1899
1924
1926
1911
1906
1911
1900
1923-
ton, Ga.,to Macon, Ga., 76 miles; total owned and operated, 307 miles.
The Western Railway of Alabama is controlled jointly with the Central
RR. of Georgia, this company holding one-half the stock of $3.09. ,0 »0.
The Macon & Augusta RR., 76 miles, is owned by this company. The
Port Royal & Augusta R R is owned oue-flfth part by this company ;
the Atlanta & West Point thirty-five one hundredths by this company.
In April, 1881, a lease for 99 years was made to W. M. Wadi, y and
associates, for the Central of Georgia and the Louisville & Nashville
railroads, at $600,000 per year, payable semi-annually, and dividends
are 2*3 percent quarterly; the deficit to these companies in 1884-85
on the lease was $98,599. In 1886-87 net income from all souroes
including bank, was $670,802, leaving a surplus of $78,343 above all
charges, including 10 per cent dividends. Total surplus of RR. Co. Mar.
31,1887. $1,083.065 ; of Bank, $217,644.
G rand R a p id s Sc In d ia n a . - (See Map o f Pennsylvania RR.)—Owns
from Fort Wayne Ind., to Mackinaw City, 367 miles; Manistee Branch,
22 miles; Missaukee Branch, 8 miles; Osceola Branch, 7 miles; total
owned, 404 miles; leased and operated: Cm. Richmond & Fort Wayne
RR., 86 miles; Traverse City Railroad, 26 miles; Bay View Little
Traverse & Mackinaw Railroad, 6 m iles; Muskegon Grand Rapids &
Indiana RR., 77 miles—155 miles. Total, 599 miles.
The Grand Rapids & Indiana Railroad is operated in the interest
of the Pennsylvania Railroad Co., and $4,000,000 of the first mortgage
bonds were guaranteed by that company, which buys the coupons each
year if any remain unpaid by the earnings. First mortgage bonds re
deemed by the sinking fund are replaced by 5 per cent bonds issued.
The bonds on the Muskegon Division have a traffic guarantee applicable
to their interest payment.
„
______
The Co. has a land grant, and sold in 1886 29,169 acres, for $-68,200.
The lands unsold on Jan. 1, 1887, were 410,356 acres. The assets were
$326,412 bills receivable aad cash with cashier $3 -',085.
rrom Jan. 1 to July 31, in 1887 (7 months), the gross earnings of all
lines were $1,6)2,033, against $1,320,099 in 1836; net, $->18,771»
against $407,103.
The income accounts for four years were as follow s:
INCOME ACCOUNT.
Gross earnings.........
Net earnings..........
Total disbursemts...
1883.
$
2,361,605
640,098
533,070
1884.
$
2,116,299
613,720
567,602
1885.
$
1,946,143
603,715
744,413
1886.
$
2,098,127
760,593
746,406
Balance.....................sur. 107,028 sur. 46.118 def. 140,698 Sur 14,187
—(V. 43, p. 245, 398, 515, 634 ; V. 44, p. 22, 184, 235, 300, 434).
Green R a y W in o n a Sc St. P a u l.—Owns from Green Bay. Wis.,
to Marshland, Wis., 209 miles; branches, 10 miles; leased—Plover
to Steven’s Pt., 6 miles; total, 225 miles. This was a reorganization in
1881 of the Green Bay & Minnesota, which company made default and
the road was sold March 12, 1881. Preferred stock is $2,000,000, and
entitled to 7 per cent when earned, and common stock $8,000,000»
both stocks $100 shares. On Feb. 1,1885, default was made on the first
mortgage interest, and the trustee of the mortgage took possession, and
in 1886 bondholders consented to fund the three overdue coupons and
the company resumed payment of interest on August 1. For
1884-85 gross earnings were $303,190: net, $33,043, ; taxes and inter
est, $102,586. In 1885-86, gross, $314,470; net, $39,052. Samuel Sloan,
President, New York. (V. 43, p. 96, 368.)
G u lf Colorado Sc Santa F e .—(See Map)—Mileage as follows: G al
veston to Gaiuesville, 420 miles; Alvin to Houston, 24; Somerville to
Conroes, 71; Temple to Coleman and Bollinger, 196; Cleburne to Honey
Grove, 132; total, 833 miles. Road was sold and reorganized April 15,
1879. Stock, $4,560,000.
In July, 1885, the old second mortgage at $13,000 per mile was retired
and canceled and the new second mortg. at $8,000 per mile was issued.
In April, 1886, the stock of this company was exchanged for the stock
of the Atchison Topeka & Santa Fe RR. Co., and the two properties thus
consolidated. See V. 42, p. 630. An abstract of both mortgages waa
given in V. 45, p. 241.
_
For the year 1885 the gross earnings were $1,916,963; net, $517,293.
For the year 1886 the earnings and income aocount were as follows on
an average mileage of 66 j miles operated: Gross earnings, $2,556,461;
net, $672,858; other receipts, $236,282; total net, $909,141; interest,
$762.660; taxes, &o., $73,776—$836,436; surplus, $72,705, (V 43, p.
23, 245, 399, 619; V. 44, p. 21, 204, 495, 526, 551, 553, 751; V. 45, p.
241. 342,1
i- „
H a n n ib a l Sc St. J o s e p R .—Owns from Hannibal, Mo., to St. Jos eph»
Mo., 206 miles; branches—Cameron to Kansas City 54 miles; St. Joseph
to Atchison, Kans..21 miles; Palmyra to Quincy Hi., 14 miles; total,
operated, 295 miles.
, . , . __
The company was chartered Feb. 16,18 47, and road completed to St.
Josephin Feb., 1859. The branches were built under different organiza
tions. The Bridge across the Missouri River at Kansas City is owned.
The company received- $3,000,000 in bonds from the State of Missouri,
which loan was repaid In cash in June. 1881, but litigation followed.
The U. S. Circuit Court decided the further sum of $476,049 to be due
the State, and the case is yet pending on appeal. The land grant has
been practically closed out.
In May, 1883, 90,000 shares of common stock and a large amount
of preferred were sold to the C. B. & Q. RR. Co. at 45 for the common
ana par for the preferred, payable in C, B & Q. 5 per cent bonds at par
5»
INVESTORS’
SUPPLEMENT.
[Y ol. x l v .
S e p t e m b e b , 1887.]
RAILROAD STOCKS AND BONDS.
03
54
INVESTORS’ SUPPLEMENT.
[V ol . XLV.
Subscribers w i ll confer a great fa v or by g iv in g Im m ed iate notice o f a n y error discovered in tliese T ables
DESCRIPTION.
Bond8—Princi •
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
pal,When Due.
For explanation of column headings, &c., see notes of
Par
of
Rate
per
When
Where
Payable,
and
by
Outstanding
¡stocks—Last
on first page of tables.
Road. Bonds Value*
Cent. Payable
Whom.
Dividend.
Hannibal <&St. Joseph—Common s to ck ....................
$100
295
$9,168.700
Preferred stock (7 p. c. yearly, not cumulative").
100
292
5,083,024
3
F. & A. N. Y., Company’s Office Feb. 15,1883
Consolidated mort. (for $8,000,000).......................
292 1881
1,000
6.643.000
5 &6 M. & S. N.Y., Bk.of No. America, Mar. 1,1911
Bonds Quincy & Palmyra R R ..........................1’ "
15
433.000
8
F.
& A.
do
do
Jan. 1, 1892
Bonds Kansas City & Cam. R R ..................
53 1867
1.076.000
10
J. & J.
do
do
Jan. 1, 1892
Harrisb. Portsm’th Ml. Joy <£ Lane.—Stock’ " " . * " ’ ”
50
54
1,182,550
313
J.
&
J
Phila.,
Co.’s
Office,
July 10,1887
1st mor., registered (extended 30 years in 1883).
54 1853 500 &c,
700.000
4
J. & J
do
do
July 1, 1913
Harrisburg <£■Potomac—1st mortgage, co u p o n __
38 1874 100 &c,
507,200
7
J. & J Phila., Third Nat. Bk. Jan. 1, 1904
Hartford <£•Connecticut Western—Stock
100
108
2,550,200
1*2
Dec.
1, 1882
1st mortgage................................................ I” "".".” !
1,000
104 1883
610.000
5
J. *& J
Hartford.
July 1, 1903
Eousalonic—Stock..........................
100
127
820,000
Preferred stock..........................
100
127
1.180.000
Bridgeport & Boston.
2d mort. bonds of 1869............................................
(?)
1869 500 &e.
300.000
6
J. & J.
Bridgeport, Office,
Bends......................................................
July l 1889
100.000
4
do
do
1910
Consolidated mort.. reg.......................
1880 500 &c.
300.000
5
A.
O.
do
do
April 1, 1910
Rolling stock certificates..........................................
200.000
5
1889
Houst. Bast <6 West Texas.—1st M., gld ($7,000 p. m.) 192 1878
i’,òò’o 1.344.000
'
m ."& N. Last coup’npd.May, ’86
1898
2d mort., land grant ($5,000 per m ile)...............
1,000
192 1883
J. & J.
Jan.
1, 1913
Houston <6 Texas Cent.—1st M., (main) gold, l.gr.,s.f. 345 1866
1,000
6.154.000
7 g* J. & J. Last paid July, 18p4
July 1. 1891
P20rt‘ ’ Pr,>West div. (Hempstead to Austin) 119 1870
1,000
2.271.000
J.
&
J.
Last paid July, 1884 July 1, 1891
7
8*
1st M., gold,Waco & N’ west (Bremond to R o s s )___
1873
1,000
58
i ,140,000
J. & J. Last paid July, 1884
July 1. 1901
Consol, mort., land grant, Main and Western Div. 464 1872
1,000
4.046.000
A. & O. Last paid Oct., 1884
Oct. 1, 1913
Consol, mort., land grant, Waco & Northwest......
1,000
58 1875
Nil.
8
M.
& N.
May 1, 1912
Gen. mort., gold (for $18,500,000)......................
1,000
522 1881
4.305.000
6 g. A. & O. Last paid Oct., 1884 April 1, 1925
Huntingdon <&Broad Top—1st mort., g o l d .........
500
64 1854
416,000
A. & O.
Office,
Sept. 30,1890
2d mortgage, gold......................................................
I e ’ F. & A. Philadelphia,
64 1857
500
367,500
do
do
Feb. 1. 1895
3d mortgage consolidated................! ! ! I ” !I” I I "
1,000
64 1865
1.497.000
A
&
O.
do
do
April 1, 1895
Scrip for interest 1st and 2d mortgages.................
121,181
7
J. & D.
do
do
Dec.
1, 1889
Illinois Central—Stocx............................................ . )
Too 40.000. 000 3ia M. & S. N. Y., 214 Broadway, Sept. 1,
1887
Leased line 4 per cent stock, guar.................... j 2,355
100
10.000.
000 2
J. & J.
do
do
July
1,
1887
Mortgage bonds, sterling...............................
£200
706 1875
2.500.000
A. & O.
London.
April
1.
1895
«*•
Sterling bonds, (sinking fund £20,000 yearly")."! 706 1874
£200
3.900.000
5 g. A. & O. London,Morton R.& Co. April 1, 1903
Ie-
I*
Preferred stock has prior right to a non-cumulative dividend of 7 per
Southern Development Co. against the railroad,
cent; then common to 7 ; then both share. Fiscal year ends Dec. 31.
Annual election occurs in November.
The income accounts have ^ T re?-eivers certificates were issued. In January, 1836, foreclosure
8,urI)lus over all charges of $68,210 in 1886; a surplus of i ^ ? a ^ dmgs W6IT be£ un under the first m ortgage, and the first mortgage
f£06,152 .ia 1885; a surplus of $445.168 in 1884; a surplus of with M rD U to g h a m ai<i8 PUC1U pQ;i8e88ioa o£ the Property as re ce iv e ? !
i11
and a surplus of $39,810 in 1882 after paying
The latest proposai for reorganization, &o., was in V. 44, p. 653.
oi!o\ ^ i°r a 6*2 per cent dividend on preferred stock. (V. 43, p.
statement of gross earnings, operating expenses,
308.)
H arrisb u rg P o rtsm o u th M o u n t J oy & Lan caster.—Owns
from Dillerville, Pa., to Harrisburg, Pa., 36 miles; branch, Mid
EARNINGS, EXPENSES AND CHARGES FROM 1882 TO 1885 INCLUSIVE,
dletown, Pa., to Columbia, Pa., 18 miles; total operated, 54 miles.
The property was leased to the Pennsylvania Railroad Co. for 999 „
•:
1883.
1884.
1885.
1886.
years from Jan. 1, 1861, the rental being 7 per cent on the stock and Gross earnings........... $3,251,875 $2,547,847 $2,739,915
$3,080,7.6
Expenses—
Interest on the bonds. Operated as a part of main line of Pennsylva
nia Railroad.
J
Operat’g, incl’g taxes. $1,743,771 $1,578,190 $2,052,377 $2,311,205
Extraordin’y rep’s, &c 687,392
549,699
77,192 )
77.1921
78,834
H arrisb u rg & P o to m a c .—Owns from Bowmansdale toShippens Equipment..................
95,398
92,221
82,989
burg, Pa., 32 miles; branch to mines, 5*2 miles; total operated, 371a
miles. Extensions projected from Bowmansdale to Harrisburg. Bonds
Total..........................$2,526,562 $2,220,110 $2,212,559 $2,390,039
authorized, $1,800,000. Stock $379,165. Thomas W. Ahl, President,
$327,737
$527,36u6 $690,757
Net earnings.............. $725,313
Bolling Springs, Pa.
Int. on floating debt..
$62,394
$86,130
$22,4f t
$2,118
40,697
39,888
45,698
38,462
C onnecticut W e s te rn .-H a rtfo rd , Conn., to Rhine- Int.&prm. State debt.
eliff, N. Y., 108. I oreclpsure suit was begun in 1880 against the former
$622,220 ~ $201,718
$459,238 $650,177
L °na* West., and the State Ireasurer took possession. On May 25,1881 Surptos income
. . . . ___
^ . . . . ___
bondhoiders reorganized, and stock in new company issued for bonds. Int. on bonded debt p ’d 1,193,200 1,193,200
In March, 1882, the purchase of the Rhinebeck & Connecticut Railroad
$570,979 $991,481
........
.......
was made. In August. 1*87, Jas. W. Husted, of N. Y., was elected Def.onint.forbond.d’t
President, and this road was reported then as probably iorming a part
of the ) oute to connect with the Poughkeepsie Bridge and form an all 653^6*81 7511? 2’ 131> 309* 515’ 547’ 57i)’ 746î V. 41, p. 22,184, 526,
rail route across the Hudson River. Gross earnings L884-85, $307.924*
deficit, $9>,81 L Gross in 1885-86, $34e,964; net, $93,975; surplus over
? r °K d T o P*—Owns from Huntingdon, Pa., to
Mt. Dallas, Pa., 45 miles; branenes—Shoup’s Run, 9 miles; Six Mile
interest, &c., $55,02,. (V. 44, p. 308; V. 4o, p. 166, 212, 239.)
Run, 4 miles; and Sandy Run, 3 miles; Long’s Run Br., 3 miles*
H o u s a t o n i c . —From Bridgeport. Conn., to State Line, Mass., 74 total operated, 64 miles. This road was opened in July, 1856. The canimiles; Brookfield Junc. to Danbury, 6 miles; leased-Berkshire Railroad tal stock is $1,369,050 common and $1,985,300 7 per cent pref. stock
; W e s tHt0(;kbridge Railroad, 3 miies; Stockbridge & Pitts £a February, 1884, a dividend of 75 cents per share was paid on preL
aad ia J u iy .lS 87, 2 per cent. Earnings in 1883, $424,494 ; net,
field RR., 22 miles; total, 127 miles. The preferred 8 per cent stock was
Issued m 1845 t° pay for laying the road with heavy iron. There are $196,651. In 1884, earnings, $333,560; net, $175,724. In 1885 gross
also $150,000 6 per cent equipment bonds due Feb. 1,1888, and $70 000
^ 111 1836> 8î?os8’
5 percent Danbury branch bonds due October 1. 1912. In Sent 188«
ttie Housatonic leased the Danbury & Norwalk RR. for 99 years* Onera^
tions and earnings for four years past were as follows:
i!.1111? 018 C e n tr a l.—(See Majpj—L ine o f R oad—On Dec. 31, 1886
Ma;u line-Chicago to Cairo, 365 miles; East Dubuque
2
Passenger Freight (ton) Gross
Net
Div t,
to Centralia, 341 miles. Branches—Otto to Normal, 111., 79 miles*
Buckingham
to
Tracy,
Hi., 10 miles ;*Kempton Junction to Kankaxee
35^2
EeDtal8'Pr«f
188283_______ ^8^79^731i s f e e s $ 7$252,251
$74.107
n S .0o’3 k 42 miles; Gilman to Springfield, 111 miles; Park Site to South
188384----------- 9,265,561
14,875,414
676,759
229,121
74,095
Chicago,
5
miles;
total
in
Illinois, 953 miies. Southern Division—New
1884- 85---- 8,835,567 14,890,424 645,859
249,632
74,102
La,i™ Caf °* Id*,.548 miles; branches: Durant. Miss., to A ber
188586----------- 9,890,020
17.296,373
690,016
240,610
74,100
deen, Miss., 108 miles; Jackson to Parsons, Miss., 115 m iles; Sohula to
—(V. 43, p. 334, 774; V. 44, p. 631; V. 45, p. 53.)
Durant, Miss., 24 miles. Total owned, 1,747 miles. Leased—Dubuque
to Iowa Falls, 143 m iles; Iowa Falls to Sioux City, 183 miles; Watertoo
.
& W e s t T e x a s.—Owns from Houston. Tex
to Minnesota State Line, 76 miles. Total leased, 402 miles
T ota l
to joabine River at Logansport, 192 miles, and connects there with a line operated Dec. 31,1886, 2,089 miles. In Jan., 1887, took pos^ssion of S
to Shreveport, La. (Narrow gauge, 3 feet.) The company had a Texas road Champaign to Havana, with branch from Monticello to Decatur,
land grant of 10,240 acres for each mile constructed and equipped 1,3° mdes, and the narrow-gauge road West Lebanon, Ind., to Leroy,
Bonds issued to the extent of $7.000 per mile first mortgage and $5 000 HI., 76 miles, making total operated after January, 1887, 2,355 miles
per mile second mortgage, but the 2d mortgage bonds were not sold Under construction; Chicago Madison & Northern, Freeport, 111 to
and are held as collateral for the debt due Mr. Bremond, $750 000
Stock authorized, $10,000,000; issued, $1,920,000. In July 1885 M Madison, Wis., and Chicago to Freeport, about 170 miles.
O r g a n i z a t i o n , L e a s e s , &c.—This company was chartered in D ecent
G. Howe, Assistant Superintendent of the Houston & Texas Central
was appointed receiver of this company. Interest is in default and ber, 1850, and organized in March, 1851, and the whole road, 707
the pro position made^to bondholders was in V. 44, p. 244. (V. 43 p. miles, opened September, 1856. The Illinois Central was one of the
first, and has been one of the most successful, of the land grant roads
The lands granted were upon the condition that the companv
,
& T ex a s C entral. (See map o f Southern Pacific.)—Owns should pay to the State 7 per cent of gross earnings yearly in lieu of
from Houston, Tex., to Red River C ity f Tex., 345 nffies* branPhAa taxes. The Springfield Division was acquired by a lease of theChicaao
-Hem pstead, Tex., to Austin, Tex., 118 mfies; Bremond Tex to & Springfield (Gilman Clinton & Springfield foreclosed for 50 years
Ross, Tex., 57 miles; total operated. 520 miles. Texas Central RR but road is practically owned. The leased lines in Iowa were acquired
completed from Ross to Albany, 177 miles, with branch, Garrett to in 1887 by purchase of a controlling interest in their stock. The
Robert, 52 miles, is operat ed in connection with this road, but accounts company acquired a controlling interest to the Chicago St. Louis &
a™ 8T I n te‘ The company has a land grant from the State of Texa! New Orleans Railroad, to which it made large advances. From Julv
40 acres per mile, amounting to about 5,130,720 acres; but the 1, 1882, leased the Chicago St. Louis & New Orleans for 400 years
lands are not on the line of the road. Mr. Morgan, of the Louisiana at 4 per cent per annum on stock and issued the above 4 per cent leased
Steamship Line, bought a controlling interest in the stock, a id to line stock, in exchange for the Chic. St. L. & N. O. stock. Fiscal vear
Scuthem Pacific party purchased this interest ends Dec. 31. Annual election held to March.
($3,985,500 of the stock) with their purchase of the Morgan nroDertv
S t o c k s a n d B o n d s — The 4 and 3 h per cent bonds due in 1951 are under
Totai stock is $7,726,900. The general mort. of 1881 for $18,500 000
is
to the Farmers Loan & Trust Co. as trustee, which comoan v the old main line mortgage of 1874, and this company was the first to
negotiate
at par a 3 »a per cent bond. On the Chic. St. L. & N. O. the lessee
holds $1.500,000 Income and Indemnity bonds and $1,149,000 consof guarantees
the principal and interest of all the outstanding bonds prior
mortgage bonds as security.
’
oonsoi.
to
the
5
per
cent bonds, and by an endorsement on the latter bonds
due January 1,1885, on first mort. bonds were not naid guarantees the
payment of the interest on the same until the principal
’ lVut- we«e partly Purchased by the Southern D e v e lo p m e n t^ is paid. Of the
first mortgage bonds, $541,000 are a prior lien on
“ q0/ ! - ls f flrilt lleu, on tlle main line at the rate of $20,000 a mile
coverin„ 345 miles of road; it is also a first lien on ten sections of land that portion of the road in Tennessee. The trust bonds of 1886 are
secured
each
one
by a deposit of a $1,000 bond of the Chic. St. L. &N.
for each mile, or 2,208,000 acres. The second mortgage at 8 per cent
is a second lien on 463 miles of road and also a first Sen on%ix toctfons O consol. 5 per cent mort. and they also have the agreement that they
shall
be
secured
by
any future mort. that may be issued on the 111. Cent,
of iand for each mile of road, being 1,777,920 acres in all. * sections
lines.
The company issued $10,000,000 new stock at par to stockholders
th e^ a n t! (See V . l s f p ! M 4,
land8 WSS made as re1uir^
of June 1,1887, the prooeeds to be used for acquisition of the leased
In February, 1885, B.G. Clark and Chas. Dillingham were appointed lines
in Iowa for construction, <&o.
S e p t e m b e r , 1887.]
RAILKOAD
STOCKS
AND
BONDS.
55
5 6
n n r R S T iV R K ’
Sabtserlbera w ill confer a great favor by g iv in g im m ediate notice o i any error discovered in these Tables.
DESCRIPTION.
Bonas—Princi
INTEREST OR DIVIDENDS.
Miles Date Size or
pal, When Due.
Amount
par
of
of
Rate per When Where Payable, and by Stocks—Last
Outstanding
Road. Bonds Value.
Cent. Pay’ ble
whom
Dividend.
on first page of tables.
Illinois Central—( Continued)—
Mortgage, sterling...........................................
Mortgage bonds, gold, coup., may be reg___
Mortgage bonds, gold, coup., may be reg.............
Trust oondsscerl’g, (secured by Ch.S.L.& V.O. cons.)
Bonds, cou p., mortgage on Oh. <& Sp. RK .........
Bonds, reg., mortgage on Middle Div............ .
Chic. St .Louis & N. O., 2d M. (N. O.J.& G. N .)..
do
do
1st m o r t.................. .
do
do
2d mort............................
do
do cons.M., gld. (for $18,000,000)
Illinois <&St. Louis—1st mortgage.............................
Yenloe & Carondelet mort., guar..... ............ .........
Indiana Bloomington <&West.—Stock........................
1st mort., preferred, coup, or reg...........................
1st mortgage, coup., may be reg.............................
Income bonds, reg., convertible ............................
Consol, income bonds for $6,000,000.....................
2d mortgage, coupon or reg......................................
1st mortgage, gold, Eastern Division..... ...............
Sinking fund debentures.........................................
Indiana Illinois <£ Iowa—Bonds.......... ................ .
2d mortgage, reg..................*....................................
Indianapolis <6 St Louis—1st mort., in 3 series.......
Mort for $2,000,000, gold, lend, by C. C. C. & t ) .
Indianapolis A Vincennes—1st mortgage, guar.......
2d mortgage, guaranteed.................. .....................
Indianapolis<t Wabash—1st mort., gold....................
Iowa Falls <t Sioux City—Stock...................................
1st mortgage. April 1, ’69........................................
Ithaca Auburn <£ West.—1st mort.(for $500.000)___
2d mortgage, (income for 3 years)..........................
706
706
706
111
131
224
567
567
567
19
6
543
202
202
202
342
202
140
120
120
72
72
117
117
153
184
184
38%
38%
£200
1875
1886 $1,000
1,001)
1886
£200
1888
1,000
1877
1,000
1881
1,000
1860
1,000
1877
1,000
1877
1,000
1881
500
1*75
1,000
1880-2
100
1879 100 &c.
1879 500 &c.
1879 100 &o.
1,000
1881
1879 500 &c.
1,000
1881
1,000
1883
1882
1,000
500
1883
1,000
1869
1882
1,000
1867 500 Ac.
1870
1,000
1,000
1876
..
100
1869 500 &c.
1876 100 &o.
1877 100 &o.
Dividends paid since 1870 (prior to current year) have been: in 1871,
10 per cent; iu 1872, 10; in 1873, 10; in 1874, 8 : in 1875, 8 ; in 1876,
8 ; in 1877, 4; in 1878, 6 ; in 1879. 6 ; in 1880, 6 ; in 1881, 7 ; in 1882,
7 ; in 1883, 8 and 17 per cent in Chic. St. L. <fc N. O. stock, exchangeable
for leased line certificates: iu 1884,10; in 1885, 8; in I806. 7%. Prices
of the stock yearly since 1870 have been: in 1871, 132®139%; in
1872,119® 140; in 1873, 90 ®126%; in 1874, 90® 108%; in 1875, 88%
® 1061«; in 1876, 60V® 103%; in 1877, 40%®79; in 1878, 72%®87; in
1879, 79%® 100%; in 1880, 99%® 127%; in 188 L, 124® 146%; in 1882,
127%® 150%; in 1883,124 ® 1 4 8 ; in 1884. 11 0 «1 4 0 ; in 1885, 119%
® 140; in 1886. 130® 143%; in 1887 to Sept. 16,117 ex ®138.
O p e r a t i o n s a n d F i n a n c e s .—The Illinois Central for many years paid
10 per cent dividends, as the road drained a rich territory, of which it
was the only outlet to Chicago. But the building of numerous east and
west lines crossing its road cut into its business severely, The company,
to extend its business, acquired the line from Cairo to New Orleans,
and invested largely in improving the property, and in 1837 acquired
the leased lines in Iowa by purchase of iheir stocks.
For 188b the annual report in V. 44, p. 307, 310, showed that the
surplus ' ver all charges (including construction and equipm’t accounts)
and 8 per cent dividends was $8,593. The profits of the whole line
are shown in the figures b elow :
INCOME ACCOUNT.
R’d op’rat’d Dec. 31.
Receipts—
Interest, <&o.............
Miscellaneous..........
Total......................
Disbursements—
Rentals, incl. int. on
bds. 01 leased lines.
Int. on HI. C. debt...
Div’dson lll C.stk. &
leased line certs ...
Taxes.........................
Construction aco’ ts.
Add’d equip, acc’t..
Miscellaneous..........
1883.
1884.
1885.
1886.
1,928
2,066
2,066
2,149
$
$
$
$
13,064,743 12,190,833 12,621,264 12,529,494
6,629,472
6,062,321
5,994,635
5,988 790
298,009
188,967
270,627
313, >43
202,226
121,206
65,966
102,121
7,129,707
6,372,494
6,331,228
6,404,251
1,891,538
538,750
1,787,316
546,900
1,901,038
544,400
1,875,073
776,760
3,300,000
559,980
632,529
2,720,000
545.269
219,9 i3
250,000
165,138
2,720,000
556,074
548.859
2,430,000
575,459
615,926
60,807
122,443
50,000
6,972,797
6,234,566
6,331,178
6,395,661
Balance, surplus....
156,910
137,928
50
8,593
—(V. 43. p. 190, 245, oov, 0 /J.5 v. aa, p. i i a , ray, ¡470, uyi, 3 0 7 . 3 1 0 .
343, 494, 526. 539, 653, 808; V. 45, p. 142.)
I llin o is Sc St. L o u is.—Belleville to East St. Louis, 111., 15 miles
branches to coal mines, 4 miles; total, 19 miles. Leases Venice & Caron.
RR., 6 miles, and guarantees the bonds. Capital stock of 111. & St. Louis
is $900,000 prelerred and $617,000 common. Gross earnings in 188485, $197,871; net, $32,264. Gross in 1885-~6, $ 189,749; net, $»8,667;
surplus over all interest, $33,7ol. Jos. W. Branch, President, St. Louis.
In d ia n a B lo o m in g to n Sc W e ste rn .—Owns from Indianapolis,
Did., to Pekin, 111., 202 miles, and Indianapolis to Springfield,
Ohio, 142 miles. Leased, Pekin to Peoria, 9 miles; Springfield to San
dusky, O., 130 miles; Cary, O., to Findlay, O., 16 miles; Springfield to
Columbus, 45 miles. Total operated, 543 miles. This was a consolidation in March, 1881, of the Ind. B. & W. and the Ohio Ind. & Pacific.
The Cincinnati Sandusky & Cleveland and branch was leased in April,
1881; but of this, 24 miles (Springfield, O., to Dayton) is leased to Cin
cinnati & Springfield. In April, 1885, the lease of the Indianapolis
Decatur & Springfield road was given up. The former Indianapolis
Bloomington <fc Western Company defaulted Oct. 1,1874, and the road
was sold in foreclosure Oct, 30, 1878.
In July, 1886, a receiver was appointed for the I. B. & W., as the
company was held liable for a larger rental of the Cin. Sandusky & Clevelai d road than had been expected; but the U. S. Circuit Court sustained
the decision and ordered the rental to be oaid, and in Nov., 1886, a cir
cular was issued proposing a plan of foreclosure and reorganization
(See V. 43, p. 579.) On March 28,1887, the road was sold at Indianap
olis and will be reorganized pursuant to the plan, but this was delaved
by legal formalities till Januury, 1888.
For the year endng June 30, 1886, see teport in V. 43, p. 546, gross
earnings $2,493,536; net, $839,783; disbursements, $919,497; deficit
$79,714.
For the year ended Dec. 31, 1885, the report in Chronicle V 43
p. 216, gave gross earnings, $2,335,539; net, $717,107; add rental, earnings of C. S. & C. Railway, Springfield to Dayton. $80,642. Total avail
able revenue, $797,748. Payments: Rentals, $332,110; interest on
bonds, $530,000; other interest, $23,387; taxes, $83,000; New York
office expenses and services, $1 5 ,5 9 3 -total, $985,391; deficit under all
Charges $187,642. (V.43, p. 23, 49,102, 132, 2 1 6 , 309, 398, 458.
515, 5 4 6 , 579, 634; V. 44, p. 90,184, 211, 434; V. 45, p. 369.)
In d ia n a Illin o is Sc I o w a .—Completed and in operation from
Streator. 111., to Knox, Ind., 120 miles. Stock, $3,598,000. Gross
income in 1884-5, $113,315; net, $8,095; deficit under charges, $20 850
Gross m 1885-6, $123,089 ; net, $22,568. F. M. Drake, President Centreville, Iowa.
$1,000,000
5 g. J. & D. London.Morton R.& Co
1,500.000
4 g. J. & J. New York. 214 B’dway,
2.496,0003
31« g. J. & J. N. Y., 214 Broadway
5,000,000
31« g. J. & D. London.Morton R.& Co.
J. <& J. N. Y., 214 Broadway,
1,600,000
6
968.000
5
F. & A.
do
do
1,483,000
A. & O.
8
do
do
1,398,000
M. & N.
7
do
do
6
80,000
J. & D.
do
do
15,030,000
do
do
5 S. J. & D.
20 »,0 ¡0
J. & D.
8
St. Louis,
300,000
6
Various
do
10,000,800
1,000,000
‘ 7'
J. & 'j . N. Y., Corbin Bank Co
3.500,000
4 to 0 A. & O.
do
do
72,300
6
do
do
6
4,688.000
do
do
1,500,000
4 to 6 A. & O.
do
do
3,000,000
J. & D.
do
do
500.000
F. & A.
do
do
600,000
6
M. & N
New York Agency,
M. & N.
341,000
6
do
do
2,000,000
7
Various N. Y., Union Trust Co.
500,000
M. & N. N. Y.. U. S. Trust Co.
?*• F. & A. N. Y., Farm. L. <fc T. Co.
1,700.000
1,450,000
6
M. & N.
do
do
1,800,000
7 g. A. & O. N. Y., 1st Nat. Bank.
4,600,000
Q .-M .
1%
Boston, at Office.
2,800,000
7
A. & O. N. Y., Nat. Park Bank.
400,000
7
J. & D. N.Y., Hanover Nat. Bk.
498,090
7
J. & J.
do
do
Is-
Deo. 1. 1905
Jan. 1, 1951
Jan. 1. 1951
July 1, 1950»
Jan. 1, 1898
Aug. 1, 1921
Oct. 1, 1890
Nov. 1, 1897
Dec. 1, 1907
June 15, 1951
June 1, 1895
I960-' 02
Jan. 1, 1900
April 1, 1900
April 1, 1919
July 1, 1921
April 1, 1909
June 1, 1921
1903
Nov. 15, 1887
Nov. 15, 1908
Juiy 1, 1919
Nov. 1, 1912
Feb. 1, 1908
May 1, 1900
July 1, 1906
Sept. 1 ,1 8 8 7
Oot. 1. 1917
Deo., 1906
Jan. -1, 1907
I n d i a n a p o l i s Sc St. L o u i s .—Owns from Indianapolis to Terre
Haute, Ind., 72 miles ; leased line, St. L. Al. & T. H. and branches,
193 miles; total operated, 265 miles. The old lease of the St. Louis
A. & T. H. was guaranteed by three other companies, and suit has been
pending as to the rental. The company was formerly controlled by
the Pennsylvania and Cleveland Columbus Cin. & Ind. companies,
who jointly owned the stock of $600,000. Interest had not been
paid on the second mortgage and equipment bonds since July, 1878,
and on July 28,1882, the road was sold in foreclosure for $1,396,000
(subject to 1st mort.) and bought for d e v . Col. Cin. & Ind. Co. and a
new company organized September, 1882, with J. H. Devereux as
President. A new lease was made of the St. Louis Alton & Terre Haute
by which this company and the develand Columbus Cincinnati <fe In
dianapolis are jointly liable for the rent of $450,000 per year as a mini
mum. Of the first mortgage bonds series “ A” are J. & J.; series “ B, *
M. & S.; series “ C,” M. & N.; and the C. C. C. & I. RR. guarantees
$750,000 of them.
There has been a large deficit on the company’s operations after de
ducting the rental. Net earnings in 1886 were $441,513; rental paid,
450,000; interest on bonds, $170,000 ; miscellaneous, $149,712; total,
769,512; net loss to lessee in 1»86, $324,999; deficit in 1885, $560,9 ol. The road is only incidentally of advantage to its owners as a
route to St. Louis.
Operations and earnings for five years past were :
Passenge Freight (ton)
Gross
Net
Years.
Miles. Mileage.
Mileage.
Earnings.Earnings.
1882............. 265 21,008,318 202,985,772 -------------------------$2,086,776 df.111,608
18*3............. 265 20,96 >,061 196,667,532
2,131.621
172,419
1884............... 265 22.494,880 207.672,278
1,921,726
189,904
1885............... 265 20,596.678 216.121,867
1,855,903
249,249
1886............... 265 21,017,157 177,844,516
1,876,495
444,513
In d ia n ap olis Sc V in cen n es. -Owns from Indianapolis, Ind.,
to Vincennes, Ind., 117 miles; branch, Bushrod to Dugger, 12 miles;
total, 129 miles. The Penn. Co. owns a controlling interest iu the stock
and operates the road, advancing the deficiency to pay interest on the
bonds. The capital stock is $1.402.000; tne debt due to Penn. Co. Deo.
31, 1886, was $l,513,o07. In 1881 the net earnings were $10,260; in
1882, $19,850; in 1883, deficit, $11,031; in 1884, deficit, $9,570; in
1885, deficit, $5,847; in 1886, surplus, $26,298. Annual interest on
debt. $206,000.
In d ia n ap olis & W a b a s h . - Owns from Decatur, 111., to Indian
apolis, Ind.. 153 miles. This company is successor to 1he Indianapolis
Dec itur & Spiingtiel l RR., sold in foreclosure Mav 25.1887. The fore
closure was made in New York under the 2d mort., and the old stock
was assessed $2 50 per share. Tne new capital stock is $4,240,Ot'O.
—(V. 43, p. 718; V. 44, p. 184, 211, 362, 682; V. 45, p. 239, 272.»
I o w a F a lls Sc Siou x City—(See Map o f Illinois Central).—Owns
from Iowa Falls, la., to Sioux City, la., 184 miles. This road was onened
in 1870 and was leased to the Illinois Central for 20 years from Oct. 1,
1867, at a rental of 36 percent of the gross earnings. The Illinois
Central had an option of continuing the lease after 1887 at same rental,
but acquired the property by purchase of the stock, and the Iowa
Falls & sioux Ciiy distribuied to the stockholders, assets amounting to
$1, <59,50««. For the eleven mouths ending Feb. 28, 1887, the total
rental was $213,998; receipts from sales of lands, $326,^16; the total
net income was $769,604, and all expenses, including dividends, $610,106; balance. $159,498. The contingent fund invested was $1,450,000.
Horace Williams, President. Clinton, la. (V. 43, p. 607; V. 44, p. 439.)
Ith a ca A u b u rn Sc W e ste rn .—Owns from Freeville to Auburn,
N. Y., 38 miles. The New York & Oswego Midland RR., Western Exten
sion, was sold in foreclosure, and this company organized Sept. 20,
1876. The stock is $975,800 On April 1, 1883, was leased to South
ern Central of New York for the term of its charter, at a rental of 331*
per cent of gross earnings, with guarantee that rental shall equal 4 per
cent on firrt mortgage bonds. In Nov., 1886, leased to Lehigh Valley
RR. with So. Central. Foreclosure has been consented to by a majority
of bondholders in order to change the form of bonds to con foin to the
terms of the lease.
J a ck so n v ille Southeastern.—Owns from Jacksonville to Centralia, la., 112 miles. This was the Jacksonville Northwestern & South
eastern RR., projected from Jacksonville to Mt.Vernon, 125 miles. Bonds
were issued at $20,000 per mile, amounting to $600,000. In 1879 the
company was reorganized by the bondholders under this name. Stock
$l,000,u00. In year ending June 30, 1885 gross earnings were $158,703; net, $45,304; interest on bonds, $61,390: def., $16,085. Gross
in 1885-6, $162,151; net, $57,780; interest on bonds, $70,242; deficit,
$12,463. W. S. Hook, Presid’t, Jacksonville, 111.
J ack son ville T a m p a Sc K e y W e s t.—(See mop)—Line of road«
Jacksonville, Fla., to Saniord, 126 m.; Enterprise branen, 4% m. Delandi
branch, 4m. Leased At. Coast St. Johns <s I. R., Enterprise to TRust
ville, 37 m.; operates Jacksonv. St. Aug. & Halifax, 37 m.; Sanford &t
Lake Eustis KK., Sanford to Tavares, 29m.; total operated, 237% m.
This road forms a link in the Atlantic Coast liue running from Jackson-ville to Sanford. Florida, and via South Florida road to Tampa, whence
steamers run to Havana. (See lull statement as to location, etc., in.
Chronicle V. 44, p. 681.) The road was opened March, 1886, and in
the year May 1, 1886, to May 1, 1887, the gross earnings on main line,.
130% miles, were $422.333 ; net, $124,414. The land grant is about
1,500,000 acres. The bonds may be redeemed before maturity at 110,.
§
S e p t e m b e r , 1887.J
57
RAILROAD STOCKS AND BONDS.
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered in these Tables.
Bonds—Prinoi INTEREST OR DIVIDENDS.
DESCRIPTION.
Due,
Miles Date Size, or
Amount Rate per When Where Payable, and by pal.When
Stocks—Last
Par Outstanding
For explanation of column headings, &c., see notes of
of
Whom.
Dividend.
Cent.
Payable
Road.
Value.
Bonds
on first page of tables.
54 1880 $1,000
Jacksonville Southeastern—1st mortgage..................
1,000
General mortgage...................................................... 112 18«2
1,000
Jacksonville Tampa <&Key West—1st mortgage, gold 130is 1884
9 1867
1,000
Jefferson (Pa.)—1st & 2d morts. (Hawley Branch)..
38 1869
1.000
100
Jeffersonville Madison «6 Indianapolis—S tock ........ 222
1,000
Jeff., Mad. A Ind., is t M. (s. f. $15,006 per year). 159 1866
1,000
do
do
2d mort....................................- 159 1870
6 1873
1,000
44 1877
1,000
Joliet <t Northern Indiana—1st mort., guar, by M. C.
3-6 1882
1,000
Junciion (Philadelphia).—1st mort. (extended) —
3-6 1865
1,000
2d mortgage...............................................................
115 1888
1,000
Kanawha rf) Ohio—1st mort. ($10,000 p. m .)...........
168 1881
1.000
Kansas Central—1st mortgage (for $3,200,000) —
10 18*6
1,000
Kansas City Belt—1st mort., coup, (for $2,500,000)
1,000
Kansas City Clinton <&Spring. 1st M., gold, guar... 174 1885
45 1877
500
Pleasant Hill A De Soto, 1st mort., gold...............
389
.
.
.
.
....
Kansas City Fort Scott <&Gulf—Stock, common.......
Stock, preferred......................................................... 389
1st M., land grant, sink, fund, coup, may be reg. 160 1879 10Ö Ac.
Mortgage on branches, guar , coup, may be reg.. 202 ’ 80-’84 1,000
26 1882
1,000
do
Kan A Mo. R R ....................................
....
Equipment bonds ($70,000 retired annually)....... . . . . 1883
Kans. "Ö. Memphis & Birm.—1st M. ($25,000 p. m.).
Kansas City Springfield <t Memphis—1st mort........
Plain bonds (red’ble at will at 105 and int.), guar
Memphis equipment bonds (guar.by K. C. S.A M.)
Current River RR., 1st mort., guar..................... -Kentucky Central—Covington A Lex.,mort.,extend
Maysville Division mortgage..................................
New mortgage, gold...................................... ------Keokuk <1Des Moines—1st M., mt. guar. C. R. I. & P
250
282
....
....
81
80
50
220
162
1°87
1883
1884
1885
1387
1855
. ...
1887
1878
3,000
1,000
....
....
1,000
1.000
....
1,000
100 &c.
Stock is $2,600,000. N. Y. office, 10 Wall St. (Y. 44, p. 681; V. 45, p.
25, 53.)
J efferson .—Owns from Susquehanna Depot, Pa., to Carbondale, Pa.,
37 miles; branch, Hawley. Pa., to Honesaale, Pa., 8 miles; total, 45
miles. Leased in perpetuity to the Erie Railway for $140,000 per
annum, and now operated by the N. Y. Lake Erie & West. Capital
stock, $2,096,050. Samuel Hines, President, Scranton, Pa.
J efferson ville M a d iso n 8c In d ia n a p o lis.—(See Map o f Penn
sylvania SR.) Owns from Jeffersonville, Ind., to Indianapolis, Ind., 108
miles; branches—Madison, Ind., to Columbus, Ind., 45 miles; Colum
bus, Ind., to Shelbyville, Ind., 24 miles; Jeffersonville, Ind., to New
Albany, Ind., 6 miles; Shelby & Rush RR., 18 miles; Cambridge Ex
tension, 21 miles; total operated, 222 miles. The road was leased to
Pennsylvania Company from 1873, with a guarantee of interest on
bqpds and 7 per cent on stock. Lease was modified from January 1,
1880, the lessees to pay over all the net earnings of the .T. M. A I.
Co. The Pennsylvania Company owns $1,981,000 of the stock. Divi
dends were at the rate of 7 per cent per annum till May, 1880. Earn
ings for two years past were as follows: 1886, gross earnings, $1,319,244; net, 357,775. 1885, gross earnings $1,217,088; net, $291,166.
Jersey City & B ergen .—Owns from Jersey City to Bergen Point»
N. J., 6 miles. In 1885 gross earnings, $3t>2,972; net, $115,377; int.»
dividend and sink’g fund, $55,000. In 1886, gross, $411,062; net»
$102,384. Stock, $500,000. Dividends 7 per cent in 1886. C. B. Thurs
ton, President, Jersey City.
J o lie t 8c N orthern In d ia n a .—Owns from Joliet, 111., to Lake
Station, Ind., 45 miles. Operated as part of the Michigan Central
main line. Road opened in 1854 and leased to the Mich. Cent. Above
issue of bonds definitely guaranteed was given as a compromise in
place of old 8 per cent bonds. Stock ($300,000) carries dividends of 8
per cent per annum.
J u n ctio n (P h ila d e lp h ia ).—Owns from Belmont, Pa., to Gray’s
Ferry, Pa., about 4 miles It connects the Pennsylvania, the Philadelptda & Reading and the Philadelphia Wilmington & Baltimore rail
roads, coming into Philadelphia. Capital stock, $250,000. Net earn
ings in 1882-3, $123,919; in 1883-4, $130,731; in 1884-5, $95,865; in
1885-6, $131,212. Large dividends are paid according to receipts each
year. In 1884 paid 40 per cent, in 1885 20 per cent, in 1886 30 per
cent, and April, 1887, 25 per cent.
K a n a w h a & O h io.—Corning, Ohio, to Charleston, W. Va., 115
miles, and to be extended to a point in Fayette Co., W. Va., in all 180
miles. The Ohio Cent. Riv. Div. defaulted on interest Sept, ’83, and
was sold Oct. 2 2 ,’ 85, and this company organized and above bonds
issued. Bonds and stock of old company were assessed. (See plan, V.
40. p. 356.) $200,OoO of the total of $1,800,000 1st mort. bonds are re
served to retire the loan on the Point Pleasant Bridge, and $111,' 00 to
retire the Ohio Cent. Mineral Div. bonds. Common stock author
ized $2,200,000; istp ref., $6,000,000; 2d pref., $4,000,000. Office, 2
Wall st., New York. Nelson Robinson, Vice-President. (V. 43, p. 132;
V. 45, p. 135.)
K a n sa s C en tral.—Owns from Chic. R. T. & Pao. June, to Miltonvale, 166 miles; leased Leavenworth to Chic. R. I. A Pae. June., 1 mile.
Sold under foreclosure of first mortgage April 14, 1879. Reorganized
April, 1879; on April 1, 1887, default was made. Gross earnings in
1885, $268,059; del. $46,575; def. under iuterest, Ae., $127,455. Gr >ss
earnings in 1886, $217,673; def., $76,04 ; def. under interest, &c.,
$159,404. Stock, $1,348,000. Union Pacific holds $1,313,400 of the
Stock and $1,325,000 bonds. (V. 44, p. 494; Y. 45, p. 53.)
K a n s a s City Melt.—From Argentine to Washington Park, 10
mile»*. Stock is $ 00,0u0. Owned one-half by Atchison Topeka & Santa
Fe, and one-quarter each by Kans. City Ft. Scott & Gulf aud Chic. Mil.
& St. Paul. Double-tracked and used for a terminal road at Kans. City.
K a n sa s City C lin ton 8c Springfield.—Owns from Cedar June.,
Kan., to Ash Grove, Mo., 164 miles, and branch Raynor Junction to
Pleasant Hill, Mo., 10 miles; total, 174 miles. Road was built in the
interest of K. C. Ft. S. & G. RR., which company guarantees the bonds.
In Jan., 1885, the Pleasant Hill & De Soto road, 45 miles, was purchased
from Atch. Top. & S. Fe RR., the K. C. C. & S. Co. assuming the bonds.
Stock authorized, $2,500,000; issued, $1,775,4"0, of which a majority
is owned by the Kansas City Fort Scott & Gulf RR.
K a n s a s City F o rt Scott 8c G u lf.—Mileage is as follows:
Main line—Kansas C ity to Baxter Springs, 160 miles; branches—Weir
City to Cherry \alle. 50 miles; Arcadia to Coal Mines. 2 miles; Baxter
Springs to Webb City, 22 miles; Rich Hill Junction to Carbon Centre
and Rich Hill, 28 miles; Fort Scott Junction to Springfield, 100; Coalvale to Cherokee, 26. Total operated, Dec. 31, 1886, 389 miles. In
October, 1884, the Pleasant Hill & De Soto road was purchased by the
Kansas City Clinton & Springfield, and the bonds assumed.
This company was organized April 1, 1879. as successor to the
Missouri River Fort Scott A Gulf, which was foreclosed February 4,
1879. The branches have been built mainly by this company and bonds
are guaranteed.
The Branch line 7 per cent bonds due Sept. 1, 1910, are on the fol
lowing leased lines: Fort Scott Southeastern & Memphis. 103 miles, at
$15,000 per m ile; Rich Hill Road, 28 mile-*, at $13,435 per m ile; Short
Creek A Joplin Road, 22 miles, at $14,209 per mile. These bonds are
guaranteed, principal and interest, and have a sinking fund of 1 per
cent of whole issue annu lly, with which bonds are bought at 110 t r, if
6
$300,000
J. & J, N. Y., Am. Ex. Nat. Bk.
6
J. & J.
do
do
879.000
J.
A J. N. Y. Mercan. Trust Co.
1,566,000
6 g300, oOO 41« & 7 J. & J. N.Y., N. Y. L. E. A W. RR.
2,000,000
J. A J.
do
do
7
Q .-F . N. Y., Farm. L. A T. Co.
2j000)000
11«
A. & O.
ao
do
2,563,000
7
J. A J.
do
do
1,995,000
7
J. & J.
7
258,000
J. & J. N. Y., Farm. L. A T. Co.
800;000
7
4b) J. A J. Phila.. 233 So. 4th St
425,000
A A O.
do
do
300.000
6
J. & J. 3st coup, due Jan., ’89
6
727,000
6
A. A O. Office, 195 Broadway.
1,348,000
Boston.
6
J. & J.
1,000,000
3,192,000
5 g- A. & 0. Boston, Merch’ sNat.Bk.
do
do
58,000
7 g. A. & O.
Boston.
2
F. & A.
4,648,000
do
4
F. & A.
2,750,000
J. & D. Bost., Nat. Webster Bk.
7
2,247,000
M. A S.
2,795,000
7
do
do
F. A A.
do
do
390,000
5
490.000
6
J. A D.
do
do
320.000
6
M. A S.
Boston.
5,700,000
5
M. A N. Boston. Nat. Union Bk.
6,971,000
6
500,000
6
M. A N.
6
J. A D.
423,000
5
Boston.
1,620,1)00
A. A O.
219,000 5 & 6 J. A D. Kentucky Central RR.
400,000
7
J. A J N. Y.. Morton. B. A Co.
6,600,000
New York City.
4 g- J. A J.
2,750,000
5
A. A O. N.Y., 13 William street.
July 1, 1910
July 1, 1912
Jan. 1,1914
1889 A 1927
Jan. 1, 1889
May, 1881
Oct. 1, 1906
July 1, 1910
Jan. 1, 1903
July 10,1907
July 1, 1907
April 1, 1900
Jan. 1, 1936
April 1, 1911
July 1, 1916
Oct. i , 1925
Oct. 1, 1907
Aug. is , 1887
Aug. 15,1887
June 1, 1908
Sept. 1, 1910
Aug. 1, 3922
Deo. 1, 1893
1895
Mch. 1, 1927
May 1, 1923
May 1, 1894
Dec. 1, 1897
1927
June. 1890
1906
July 1, 1987
Oct. 1. 1923
not offered, are drawn at 105; also the bonds of Memphis Kansas &
Colorado RR., 26 miles, at $15,000 per mile, without sinking fund. The
equipm- nt bonds may be paid off at 105 on 60 days’ notice.
The Kansas City Clinton & Springfield bonds are guaranteed by Kans.
City Fort Scott A Gulf. (See V. 39, p. 234.)
In 1886 the K. C. C. A S. failed to earn its interest by $52,000, which
was advanced by this companv, but the gross earnings or the Kans. C.
Ft. S. & G. were increased $89,3 i4 by interchange of business with -the
other road. The gross earnings from business interchanged with K. C.
8. & W. was $743,1x2.
The annual report for 1886 was in V. 44, p. 432, showing the following
earnings and income account for four years:
INCOME ACCOUNT.
1883.
Receipts—
$
Total gross earns........
2,016,212
Net earnings.................
837,663
Interest, Ae..... .................................
Total income............
Disbursements—
Interest on bond s.......
Leased lines interest..
K. C. 8. & M. proport’n.
Ft. Scott equip, bonds.
Dividends........................
Rate paid on com.......
Do
p ref....
Sinking fu n d ...,........
M iscellaneous...........
1884.
1885.
$
$
2,422,443 2,546,525
1,014.750
988,218
27,395
837 668
1,042.145
$
$
173,203
166,081
184,003
204,123
25,099
76,212
............
102,661
359,364 475,576
3
5
8
8
24,360
21,176
1,421
384
988.218
$
162,546
213,078
109,625
116,951
336,156
2bi
8
22,300
3,805
1886.
$
2,539,338
1,063,811
2,510
1,066,321
$
177,236
214,187
111,477
103,250
405,880
4
8
22,300
............
Total disbursements.
767,450
1,046,213
964,463 1,034,330
Balance........................ sur. 70,218 def. 4,068 sur.23,707 sur.31,991
—(V. 44, p. 1 8 4 ,4 3 2 .)
K a n sa s City M em pliis Sc B ir m in g h a m .—This road is under
const uetion aud nearly completed (Oct., 18*7) 250 miles southeast
from Memphis to Birmingham, Ala. Three corporations in three States
were consolidated under this name. Bonds for $25,000 per mile are
issued. The K. C. S. & M. owns half the stock and gives a traffic guaran
tee of 10 per cent of gross earnings derived from busine s to aud from
the new road, to be applied first to the payment of any delicie cy in the
interest, and second to retire the bonds by. The bonds may be drawn or
bought at 110. (V. 41, p. 2 )7 ; V. 44, p. 275.)
K a n sa s City Springfield 8c M e m p h is.—This organization em
braces two corporations under the laws of Missouri and of Arkansas to
build a road from Springfield, Mo., to Memphis, Tenn., 282 miles.
Current River RR.,from Willow Springs, Mo., to Cairo, 81 mil -s. The
Kansas City Fort Scott & Gulf appropriates 15 per cent of gross earn
ings on business to or from the new road to pay—first, any deficiency
in the interest on bonds, and second to retire the principal at 111). Capi
tal stock, $5.264.500. The equipment bonds are retired 1-12 annually,
and all may be retire 1 at 105 at any time. The Current River RR. bonds
are guaranteed and were issued as per circular in V. 44, p. 246. The
report for 3886. in V. 44, p. 585, showed gross earnings of $1,5 9,708,
and net, $480,709; also, $131,475 traffic guarantee received. (V. 44, p.
246. 585.)
K e n tu c k y Central R a ilw a y .—Owns from Covington, Ky., to
Livingston Ky., 154 miles; Paris to Lexington, 19 miles; leases Paris,
Ky., to Maysville, Ky., 49 miles; Richmond to Stanford, 34 miles; total
operated, 253 miles. This was formerly the Kentucky Central Railroad,
which was sold in foreclosure April 23,1887, and the present company
organized, with stock of $7,000,000. See abstract of morigage, V. 45,
n.37 2. The Co. leased of the Louisv. & Nashville RR. its Richmond
branch for 99 years from Jan. 1,1883, for $24,000 per annum, with a
right to purchase at any time for $400,000., The stock is $6.600,000.
From January 1 to July 31, in 1887 (7 months) gross earnings were
$564,300, against $435,405 in 1886; net, $220,584, against $160,403.
INCOME ACCOUNT.
Total gross earnings................ . . . .
Net receipts................................ . . . .
Disbursements—
Rentals paid.............................
Taxes and miscellaneous........ .......
1884.
$922,107
$318,487
1885.
$847,071
$309,621
1886.
$920,698
$332,325
$62,074
256,880
50,402
$61,210
255,250
69,853
$55,045
33,529
$369,356
$386.313
$88,574
Total disbursements.......... . . . .
Balance..... ................................. . . . . def. 50,869 def. 76,692 surt¿43,751
t Interest not deducted.
—(V. 43, p. 634,746,774; V. 44, p. 211,369, 551, 653; V. 45, p. 112, 372.)
K e o k u k 8c Des M o in e s.—Owns from Keokuk, Ia „ to Das Moines,
la., 162 miles. This was a reorganization, Jan. 1, 1874, of the Des
Moines Valley Eastern Div., sold in foreclosure October 17, 1873.
The property was leased for 45 years from Oct. 1,1878, to the Chicago
Rock Island A Pac. RR. on the terms follow ing: that the lessee pay 25 per
cent of the gross earnings to this company, but guarantee the interest
ss
INVESTORS’
SUPPLEMENT.
[V ol . XLV.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables
DESCRIPTION.
on first page of tables.
Keokuk A Western—Note secured by mortgage.
Kings County Elevated—1st mortgage, g o ld ....
Kingston A Pembroke—1st mort..... ....................
Income bonds............................................................
Allegany Cent., 1st mort., gold, payable at 105..!
do
2d mortgage, gold .......................
do
Income mort., not cumulative .
Lake Erie A Western—Common stock...................
Preferred stock, 6 per cent (not cumulative)........
1st mortgage, gold ($10,000 per mile)..................
Lake Shore A Michigan Southern-Stock...................
Guaranteed 10 per cent stock.......... ......................
Consoi. 1st mort., (sink, fund, 1 per cent) coupon,
do
do
do
registered
do
do
do
...................
Consol. 2d mort., do. (for $25,000,000) coup.& reg,
Lake Shore dividend bonds.....................................
3d mortgage (C., P. & A. RR.) registered bonds..
Buffalo & Erie, mortgage bonds....................
Det. Monroe & Tol., 1st mort., coup., guar..
Kalamazoo & White Pigeon, 1st mortgage_____
Kalamazoo Allegan & Gr. Rapids, 1st mortgage...
Kal. Allegan & Gr. Rapids, stock, 6 p. c. guar___
Jamestown & Franklin, 1st m ortg a g e.......
Jamestown & Franklin, 2d mortgage..........
Lawrence—Stock..................................................
1st mortgage.....................................................
Lehigh A Hudson Eire»’—1st mortgage, gold..
Warwick Valley, 1st mortgage.....................
do
2d mortgage......................
Lehigh A Lackawanna—1st & 2d mortgages..
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount Rate per
Par
of
of
When Where Payable, and bv Stocks—Last
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
143
$100,000
7
At wilL
1885 $1,000
3,500,000
5 g. J. & J. N. Y., Am. Ex. Nat. Bk.
1S25
1,000
134 1882
572.000
6
J. & J. N.Y.,R. P. Flower & Co.
1912
1,642,000
6
A. & O. Last paid April, 1884 A p r ili, 1923
....
1883
800.000
6
A
p
r
ili,
1923
1,000
62 1881
281,000
6 g. J. I T J. Last paid July, 1884 Jan. 1, 1922
....
62 1882
59,000
6 g.
Last paid Oct., 1884
1882 500 &c.
36,000
Jan’ary
6
Jan. 1,1912
100 11,840.000
592
100 11,840.000
592
1,000
592 1887
5,920,000
s' g. J. & " j. N. Y., Central Trust Co. Jan. 1, 1937
100 49,198,400
1,340
2
Q - F ; N.Y.,Grand Cent.Oifice. Aug. 15, 1887
100
F. & A.
533,500
5
do
do
Aug. 1, 1887
1,000
864 1870
f J.& J.
July 1, 1900
j
15,091,000
1,000
864 1870
\ Q.- J.
July 1, 1900
1,000
864 1870
849,000
5
1887 to 1890
1,000 24,692,000
864 1873
J. & D. Coupons are paid bv
7
Dec. 1, 1903
1,000
258 1869
1,356,000
7
A. & O.
Treasur’r at Gr’nd
A p rili, 1899
1,000
95 1867
920,000
A. & O.
7
Central Depot. N.
Oct. 1, 1892
500
&c.
88 1868
2,784,000
7
A. & 0. . Y., and registered
A p r ili, 1898
1,000
62 1876
924,000
7
F. & A.
interest by Union
Aug. 1, 1906
1,000
37 1869
400,000
J. & J.
7
Trust Company.
Jan.
1, 1890
1,000
58 1868
840.000
8
J. & J.
July 1, 1888
610.000
3
A. & O.
Oct.
1, 1887
1,000
5Ï 1863
298,000
7
J. & J.
Var.to J’ly, ’ 97
1,000
51 1869
500,000
7
J. & D. .
June
1,
1894
50
22
500,000
2
Q .- J.
Pittsburg Office.
Oct. 2, 1887
1,000
17 1865
314,000
7
F. & A. N. Y., Winslow, L. & Co. Aug., 1895
1,000
41. 1881
800,000
6
J. & J. N. Y. Nat. Ex Bank.
July 1, 1911
22 1879 500 &c.
145,000
6
A. <fe O.
do
do
1899
1.000
22 1381
240.000
6
A. & O.
do
do
1911
1,000
25 1877
600,000
7
J. & D.
Philadelphia.
Dec. 1,1907
nor the principal) on the present bonds. The stock is $1,524,600 of 8
drst consolidated mortgage bonds are redeemed each year bv
$250,000 contributed to the sinking fund. The above bonds of all
classes outstanding are given less the amounts held in the sinking
and rental, at 25 per cent, $114,512, leaving $22,987 deficit on theinter- funds, which amounted to $4,000,000 Dec. 31, 1886.
*
est charge paid by lessee.
O p e r a t i o n s , F i n a n c e s . & c —The annual reports of this company are
K e o k u k & W e ste rn —Road owned from Alexandria, Mo., to Van models of clearness in all the statistical matter. The road is greatly
Wer*t, la., 143 miles; operates Keokuk to Alexandria, 5 miles; total, dependent on through traffic, or traffic from competitive points, and its
148 miles ; was iormerly the Mo. Iowa & Neb., part of the Wabash sys business is injured by any cutting of rates.
tem sold in foreclosure Aug. 19, 1886. and reorganized under this
Ln 1882, 140,500 shares preferred stock and 124,800 shares of com
title. Stock $4,000,000. F. T. Hughes, Pres’ t, Keokuk, la.; G. H. Can- mon stock of the New York Chicago & St. Louis Railroad (a con
dee, 52 William Street, N. Y., Viee-Pres’t. A 7 per cent note secured by trolling interest) were purchased and $6,500,000 of Lake S. & Mich.
mortgage was given, payable at will. In Sept., 1887, the Centerville S. 2d consol, mortgage bonds issued to pay for it, making an interest
Moravia & Albia road was leaded. From Jan. 1 to July 1, 1887 (6 charge of $456,890 per annum.
mos.), gross earnings were $74,862 in 1887, against *65,974 in 1886;
In 1886 toe company sold $849,000 first consolidated mortgage
net earnings, $23,3*2, against a defloit of $3,792. (V. 44, p. 808 ; V. 45, bonds to redeem old bonds falling due, and this !ot of the consols bear
p. 166, 304.)
only 5 per cent interest and may be redeemed by instalments on Oct.
K in g s County E levated.—Line of road on Fulton Street, Brook* 1 each year till 1890.
lyn, to city limit-, about 7 miles, of which 1 mile is built and 3 miles in
For the quarter and six months ending June 30,1837, the report was
progress. After litigation, and a decision by Court of Appeals in its as follow s:
favor, the work went on, and bonds were offered for sale by Vermilye
r—Quar. ended June 30.—\ .—6 mos. ended June 30.—*
& Co. in Julv, 1S87. Stuck paid, $500,000. President, Jas. Jourdan;
1886.
1887.
<«
*1886.
OOU.
1887.
Treasurer, James H. Frothingham. (V. 44, p. 421 ; V. 45, p. 25.)
$4,443,860 $6 931,734 $8,642,417
Gross earnings.......$3,426,530
Oper. exp. & taxes. 2,144,605
2,419,431
4,227,985
4,827,718
K in g s to n & P e m b ro k e.—Owns from Kingston, Ontario, Canada,
to Renfrew on the Canadian Pacific RR., 104 miles; branohes, 30 miles;
$1,281,925 $2,024,429 $2,703,749 $3,814,699
total, 134 miles Bonds are redeemable on notice at 105 Offered in Other income.
45,904
45,210
45,904
63,774
New York,- in 1887 by R P. Flower & Co. Stock, $4,500,000; par $50.
Gross earnings, 1886, $148,563; net, $48,348; fixed charges, $34,320 ;
$1,327,829 $2,069,639 $2,749,653 $3,878,473
surplus, $14,028. See full statement in V. 44, p. 402. (V. 44, p. 392,
1,094,253
1,097,455
2,177,579
2,122,455
401, 4 02.)
$233,576
$972,184
$572,074 $1,756,018
& P it t s b u r g .—A consolidation in April, 1883, of
toe Allegany Central and the Lackawanna & Pittsburg. Road operated
The annual report for 1886 was published in V. 44, p. 583. containing
from Lackawanna Junction, New York, to Perkinsville, 41 miles • the tables below, showing the earnings and income account for a series
Swain’s to Nunda, 12m ., and Olean to Angelica, 39 m.—total, 92 miles! of years :
2^®
Hne is 3 ft. gauge and the others standard gauge. Stock
OPERATIONS AND FISCAL RESULTS.
$o,000,000, of which $l,o00.000 is preferred. In 1884 Company became
1883.
1884.
1885.
1886.
einbarrassed and in Dec., 1884, a receiver was appointed, and in Feb
Miles
operated........
1,340
1,340 .
1,340
1,340
1886, was authorized to borrow $50,000. Geo. D. Chapman, Pres’t and
Operations—
^fceiver, New York City. Earnings in 1885-6, $50,943; deficit, Pass’ger mileage__
215,715,155 190,503,852 176,830,303 1 91,593,135
•»eDvi
Rate p. pass. p. mile 2-196 cts.
2-170 cts.
2-058 cts.
2-098 cts.
L a k e Erie & W e ste rn "Railroad.—(See Map)—Owns from San- Fr’ght (t’ns) mileage * 1,639,512 *1,410,545 *1,602,567 * 1,592,044
ausky, O.. to Peoria. 111., and branch to Minster, 430 miles, and from Av. rate p. ton p. m.
0-728 cts.
0-652 cts.
0 553 cts.
0-639
Cts.
Indianapolis to Michigan City, 162 miles ; total, 592 miles. This is the
Earnings—
fB
$
$
$
new company formed in 1887 after foreclosure (on Dec. 14,1886 ) of Passenger.................
4,736,088
4,133,729
3,639,375
4,020,550
the Lake Erie & Western railway, which had been made up bv a ’con12,480,094 9,358,817
9,031,417 10,329,625
eolidation, Dec. 12,1879, of the Lafayette Bloomington & Muncie and Freight............... .
1,297,474
1,351,038
1,462,713
1,509,280
the Lake Erie & Western. This company in March, 1887, purchased the Mail, exp., rents, &c.
Indianapolis Peru & Chic, road, 162 miles (formerly part of Wabash)
The capitalization is at the rate of $10,0C0 per mile oi bonds, and $20 - Total gross earnings 18,513,656 14,843,584 14,133,505 15,859,455
000 in common and $20,000 in preferred stock per mile.
*
Operating Expenses _
$
$
$
O. R. Cummings, Chicago, Pie-’t ; C. 8. Brice, N. Y., Vice-Pres’ t
Mamt’oe of way, &o.
1,532,252
1,614,777
2,044,044
^ .(VvA 3’ P’ 12,’ 49* 66>1H2>274, 431, 607, 634, 671, 746; V. 44, p 22 Maint, of equipment. 2,095,492
990,907
1,111,329
1,317,379
1,340,291
90,118, 211, 401, 527,553, 808.)
’ r, ;
’ p
Transport’n exp’nses 6,592,742
5,380,166
5,277,444
5,192,943
530,236
521,543
518,668
485,946
.
& M ic h ig a n Sou th ern .—L ine o f R o ad - B uì- Taxes.........................
xalo, N. Y., to Chicago, 111., 540 miles; branches owned, 324 miles. Other Miscellaneous t........
792,476
588,231
529,269
668,398
to e s owned as follows : Detroit Mon. & Toledo, 62 miles ; Kalamazoo &
White Pigeon, 37 miles; Northern Central (Mich.), 61 miles; total 160
Total................... 11,001,853
9,133,521
9,287,537
9,731,622
nules. Roans leased are as follows: Kalamazoo Allegan & Gr. Ranids
7,511,803
58 miles ; Jamestown & Franklin, 51 miles ; Mahoning Coal R., 43 miles •
’ Net earnings............
5,710,063
4,845,968
6,127,833
Detroit Hills. & Southwest., 65 miles; Fort Wayne & Jackson, 98 miles' P.c.of op.ex.to ear’gs
59-43
61-53
65-71
61-36
total, 315 miles. Total road owned, leased and operated, 1,340 miles *
aiSRG41SZATi,0i l . *9-—T1y s company was a consolidation of the Lake
* Three ciphers omitted.
®oore RR. and Michigan Southern & North. Indiana RR. Mav 27. 1869
f Includes damage and loss of freight and baggage, personal injuries,
thcvBuffalo& Erie RR. August 16,1869. The consolidated line em law expenses, rents payable and hire of cars.
braces the former roads of the Cleveland & Toledo and the Cleveland
INCOME ACCOUNT.
Ashtabula railroads. The stocks of some of the railroads *
which entered into the consolidation forming the Lake Shore & Michigan
1883.
1884.
1835.
1886.
kad been largely increased by stock distributions, and on
Receipts—
$
$
$
$
toe lines between Buffalo andToledo the profits had been so large that
Net
earnings............
7,511,803
5,710,063
4,345,968
6,127,833
toe capital of several of the companies had been repeatedlv watered
The roads leased at fixed rentals are the Kal. Allegan & Grand Ranids Interest, divid’s, &c.
158,540
110,752
Jamestown & Franklin and Mahoning Coal. The Detroit Monroe & Tol’
Total in com e....
7,670,343
Kalamazoo & White Pigeon and the Northern Central o f Michigan are
5,710,063
4,845,968
6,238,585
proprietary road« controlled by ownership of their stock. The MahonDisbursements—
“ ieasert and its stock and bonds guaranteed. The New Rentals p a id ............
471,876
446,450
443,900
439,163
York Chicago & St. Louis road is similarly controlled by the purchase Interest on debt.......
3,132,120
3,220,870
3,326,480
3,374,938
Dividends................
53,350
53,350
53,350
53,350
Lake S h ored Michfgan Soutlf5
8° Utliern * ^
° perated * * the Sinking fund.............
250,000
250,000
cent preferred and $2,600,400 of common, a majority of which is
Eer
eld by the lessee. In the year 1885-86 gross earnings were $458,050,
V^cnas
Total disbursem’ts
Surplus for div’d —
since 1870 has been: fn 1871,851«'3>lÌ64f
831**®9914’ *873» 5714®97%:; 1874, 677s@845»- 1875 51
l oo3’
1877- 45®73% ; 1878, 8.6 78^71^. 1379
9.5 ®li.?95s; 1881, 112«8®135%; 1882, 9 8 «1 2 0 ^ • in 1883
Rate of dividends...
since 1870, viz.: In 1871. Sr in i« 7 o s - in
io -tq a
id™.6
ii8 5 ’
>»
Balance....................
3,657,346
4,012,997
3,957,320
(8)
3,720,670
1,989,393
2,473,325
(5)
4,117,456
728,512
4,073,730
2,164,855
989,330
(2)
sur 55,677 def. 483,932 sur. 728,512 sr*l,175,525
* From this surplus, $292,522 was applied to reduction of pay-rolls,
vouchers, &c., at end of 1885.
Septem ber;
1887.j
RAILROAD
STOCKS AND
BONDS.
©
«5
INVESTORS’
6 0
SUPPLEMENT.
[Y ol. XL V
Subscribers w ill confer a great favor by giv in g Im m ed iate notice o f an y error discovered in these Table«
B onus—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
MUes Date Size, or
Amount. Rate per When Where Payable, and by pal,^When Due.
Par Outstanding
of
For explanation of column headings, &c., see notes of
Stocks—Last
Cent. Payable
Whom.
Road. Bonds Value.
on first page of tables.
Dividend.
Lehigh Valley—Stock ($106,300 is pref.)..................
1st mortgage, coupon and registered.....................
2d mortgage, registered............................................
Consol, mort.,gold, $ & £ (s. fd. 2 p.o. y ’ly) cp.& reg.
Easton & Amboy. 1st mort., guar.(for $6,00C,000)
Delano Land Company bonds, endorsed...............
L ittle M iam i- -Stock, common.....................................
Street con. 1st M. bds (jointly with Cin.& Ind.RR.)
Renewal mortgage....................................................
L ittle R ock <£F ort Smith—1st M., land gr. sink, fd ...
Funding coupon scrip...............................................
L ittle R ock M iss. R iver <£ Texas—1st mortgage........
2d mortgage...............................................................
L ittle Schuylkill—Stock................................................
L ong Island —Stock......................................................
1st mortgage, extension............................................
1st mortgage, m ain ..................................................
2d mortgage............................................ ..................
Consol, mortgage, gold (for $5,000,000).............
New York & Rockaway, guar. int. only................
Smithtown & Port Jefferson mortg., guar.............
346
101
101
232
60
Í98
84
165
.
170
31
341
__
95
156
164
10
19
10%
10%
Income bonds (cumulative) ($350,000)..................
Consol, mortgage for $1,250,000............................
27
L os A ngeles <& San D iego —IstM . (for $2,800,000)..
112
L ou isia n a W estern—1st mortgage, g o ld ..................
72
L ou isv. Evansv. & St. L ou is.—1st mort. E. R. & E ...
1st mortgage, gold, for $2,000,000 (2d on 72 M.). 255
2d irort., gold, for $3,000,000,1st coup, due ’87.. 255
24
Hunt- Teh City & C. RR., 1st mortg., gold, guar..
L ou isville <£ Nashville—Stools....................................... 1,612
General mort., gold, coup, or reg. ($20.000.000), 840
L on g Island C ity (6 Flushing—1 st M., coup, or reg.
1868
1870
1873
1880
1872
1864
1882
1875
1876
1881
...»
___
1860
1868
1878
1881
1871
1871
1881
1881
1887
1880
1881
1881
1886
1886
1887
....
1880
$50 $33,112,800
1%
6
1,000
5,000,000
6,000,000
7
1,000
6
1,000 14,257,000
5
4,500,000
1,000
7
1,000
1.395,000
50
2
4,837,300
1,000
6
250,000
1,000
5
1,500,000
500 &c.
2,314,500
7
....
510,021
7
7
500 &c.
1,871,500
1,000
1,106,000
7
50
3%
2,487,850
50 10,000,000
1
500
175,000
7
500
1,121,500
7
100 &o.
268,905
7
1,000
3,430,000
5 g.
500
250,000
7
500
600.000
7
60.000
7
1,000
600,000
6
1,000
312,000
6
....
5
(?)
1,000
556,000
6
1,000
2,240,000
6 g.
1,000
900.000
6
1,000
2,000,000
6 g.
1,000
3,000,000 2 to 6 g.
1,000
300,000
6 g100 30,000,000
3
1.000 12.207 000
6 g.
Q —J.
J. & i).
M. & S.
J. & i).
M. &N.
J. & J.
Q —M.
J. & J.
M. & N.
I. & J.
J. & J.
J. & J.
A. & O.
J. & J.
Q —F;
M. & N.
M. & N.
F. & A.
Q -J .
A. & O.
M. & S.
Philadelphia, Office.
Reg. at office; cp.B’kN.A
Philadelphia, Office.
do
do
do
do
do
do
Cincinnati.
Cinn., Lafayette Bank.
N. Y., Bank of America.
N.Y.. Mercantile Co.
N.Y., W.C Sheldon & Co.
Last paid Jan., 1882.
Last paid April, 1882.
Philadelphia Office.
N.Y.,Corbin Bank’g Co.
do
do
do
do
do
do
do
do
do
do
do
do
Oct. 15.1887
June, 1898
Sept., 1910
1898 & 1923
1920
Jan., 1892
Sept. 10, 1887
1894
Nov. 2, 1912
Jan. 1, 1905
Jan. 1, 1906
1911
July 8, 1887
Aug. 2, 1887
May 1, 1890
May 7, 1898
Aug. 1, 1918
July 1, 1931
April 1,1901
Sept., 1901
M. & N. N.Y., Corbin Bank’g Co. May 1, 1911
Jan. 1
do
do
May 1, 1931
1937
J. & J. N. Y., Central Pacific. July 1, 1910
J. & J. N.Y.,South Pao.RR. July 1, 1921
J. & J.
Boston.
July I, 1921
A. & O.
do
1926
A. & O.
do
1936
A. & O.
do
1927
F. & A. N.Y., 50 Exchange PI. Feb. 1, 1882
J. & D.
do
do
June 1, 1930
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
1883-84.
1884-85.
1885-86.
1883.
1884.
1885.
1886.
Disbursements—
$
$
$
Assets—
$
$
$
$
Interest on debt............................... 2,057,207
2,059,541
2,048,201
Railr’d, build’gs, &c.
70,048,600 70,048,600 70,048,600 70,048,600 General, taxes, float’g int., loss on
Equipment................ 17,300,000 17,300,000 17,300.000 17,300,000
Morris Canal, depreciations, &c.
473,355
650,385
682,003
Ru esL & office prop.
365,780
365,780
365,780
354,167 Dividends*....................................... 2,372,242
1,660,234
1,331,531
0h.& Can.So.bds.,&c.
715,000
715,000
715,000
715,000
Stocks owned, cost..
9,414,477 12,012,839 12,195,068 12,113,700
Total disbursements................ 4,902,804 4,370,160
4,061,735
Bonds ewned, c o s t..
1,554,030
933,080
645,400
674,400
Advances..................
1,421,342
1,454,942
1,461,147 1,525,859 Balance, surplus............................
37,474
30,103
40,251
Materials, fuel, & c...
1,221.178
966,311
673,474
596,430
Cash on hand............
317;320
218,682
235,795 2,559,928
* In 1884, 10 on pref. and 8 on com.; in 1885,10 on pref. and 5 on
Uncollected earnings
582,545 1,249,858
1,588,590 1,216,840 com ; in 1886, 10 on pref. and 4 on com.—(V. 44, p. 1 1 T.)
Total assets........ 102,940,272 105,265,092 105,228,854 107,104,924
L ittle M ia m i.—Owns from Cincinnati, O., to Springfield, O., 84
Liabilities—
$
$
$
$
miles; branch, Xenia, O., to Dayton, O., 16 miles; leased, Columbus &
Stock......................... 50,000,000 50,000,000 50,000,000 50,000,000 Xenia RR., Xenia to Columbus, O., 55 miles; Dayton & West. RR., DayBonds........................ 44,466,000 47,716,000 47,466,000 47,216,00- ton, O., to Indiana State Line, 38 miles; Ohio State Line to Richm’d, Ind.,
D ividends.................
1,016,005
26,675
26,674 1,016,005 4 miles; Oincin. Street Conn. RR., 2 miles; total operated, 198 miles. The
Other liabilities........
2,506,589
2,975,161 1,131,670
839,148 Little Miami Railroad proper extends from Cincinnati to Springfield, but
Profit and loss.........
4,951,678
4,547,256 6,604,510 8,033,771 the portion between Xenia and Springfield is now operated as a branch ;
for the remainder of the main line, as given above, the Col. & Xenia
Total liabilities.. 102,940,272 105,265,092 105,228,854 107.104,924 road, Columbus to Xenia, is used. On Jan. 1,1865, they leased the Day—(V. 43, p. 6, 23, 245, 634, 774; V. 44, p. 6, 22, 276, 401, 5 8 3 , 693, ton & West. (Dayton to Ind. State line) and the Rich. & Miami (State line
714; Y. 45, p .5 ,2 5 , 304.)
to Richmond), and on Feb. 4,1865, purchased the road from Xenia to
L a w ren ce.—Owns from Lawrence Junction, Pa., to Youngstown, O., Dayton; these three roads go to form the branch of 57 miles given
18 miles; branch from Canfield Junction to Coal Fields, O., 4 miles; total above. The partnership agreement was dissolved Nov. 30,1868, and a
operated, 22 miles. The Lawrence Railroad was leased June 27, 1869, contract made by which the Col. & Xenia road, including its interest in
to Pittsburg Fort Wayne & Chicago RR. at 40 per cent on gross earnings, the above-named branches, was leased to the Little Miami for 99 years.
On December 1, 1869, the Little Miami, with all its branches, &o.
with $45,000 per year guaranteed as a minimum. Lease nasbeentransferred to Pennsylvania Co., by which the road is now operated. Gross was leased to the Pittsburg Cincinnati & St. Louis Railroad Com
earnings in 1885, $lt.6,236; net, $74,123; rental from Penn. RR. and pany for 99 years, renewable forever. The Pennsylvania Railroad
interest received, $67,159; payments, $82,199. Gross in 1886, $210,991; Company is a party to the contract and guarantees its faithful execution.
Road is now operated by Pittsburg Cin. & St. Louis Railway Co. Lease
net, $78,007: rental and interest, $84,396, less to Pa. RR., $7,629.
L eh ig h & H u d s o n R iv e r .—This road was opened from Grey rental is 8 per cent on $4,837,300, interest on debt and $5,000 per
count, on Erie road, to Belvidere, N. J., 63 miles, August, 1882. Con annum for Little Miami Company’s expenses of organization; the fulfil
solidation April, 1882. of the Lehigh & Hudson River and the Warwick ment of the lessor’s lease obligation is also stipulated. In 1886, rental,
Valley roads. In addition to above there are $65,000 Wayawanda 6 per &e., received, $684,129; payments, $668,677; surplus, $15,452. In
cent bonds due 1900 and $52,000 Lehigh & Hudson River 2d 6s, 1885 rental, &o., $697,787; payments, $664,677; surplus, $15,452;
due 1909. Stock, $1,340,000. Coupons due July, 1885, not paid, and loss to lessee, $423,976.
bondholders agreed to fund four coupons July, 1885, to Jan., 1887, in
L ittle R o c k Ac F o rt S m ltk .—Owns from Little Rook, Ark., to
clusive. In Dee., 1885, a traffic contract was made with Lehigh Coal & Fort Smith, 165 miles; branches, 5 miles; total, 170. In Dec., 1874,
Nav. Co. In 1885-86 gross earnings, $209,2 h4; net, $81,993; interest the property (then 100 miles), including the land grant, was sold in
on bonds, $84,674. In 1884-85 gross earnings $173,007. net, $65,012; foreclosure. This company afterwards built 65 miles, and opened the
deficit under interest, &c., $20,162. Grinnell Burt, Pres., Warwick, N.Y. road to Fort Smith July 1, 1876. In June, 1883, bondholders funded
L eh ig h Ac L a c k a w a n n a .—Owns from Bethlehem, Pa., to Wind into 10 year scrip the coupons falling due July, 1883, and January,
Gap, Pa., 25 miles; thence, In connection with the Wind Gap & Dela 1884. The lands unsold Jan. 1,1887, amounted to 609,981 acres, and
ware Railroad. to Bangor, Pa., 32 miles. It is operated by the Central land notes, $411.876.
Railroad o f New Jersey under a special agreement. Opened in 1867.- I In March, 1887, the proposal was accepted by stockholders to ex
Of the above bonds, $100,000 are a 1st mort., and $500,000 2d change four shares of stock for three of the St. Louis Iron Mountain
mort. Capital stock, $370,500. Gross earnings in 1885, $62,076; net, & Southern, and the road thus passed to the Gould interest and an ex
tension was put under way from Van Burén to Fort Gibson, in the
$12,723. In 1886, net, $13,860.
L eh ig h V a lle y .—Owns from Phillipsburg (Pa. Line), N. J., to Cherokee Nation, and this company was consolidated with others.
Wilkesbarre, Pa., 104 miles; branches—Penn Haven to Audenried, (V. 44, p. 551.) In 1886 gross earnings were $723,348; net, $77,978;
18 mires; Hazle Creek Bridge to Tomhicken (and branches), 32 miles; interest on bonds, taxes, &c., $270,708; balance, surplus, $116,539.
Lumber Yard to Milnesville (and branches), 18 miles; Black Creek Junc Annual report in V. 44, p. 585. (V. 43, p. 125, 334, 487; V. 44, p. 275,
tion to Mt. Carmel (and branches), 61 miles; Slatedale branch, 4 miles; 308, 434, 494, 495, 551, 585.)
Bear Creek Junction to Bear Creek, 11 miles; Lackawanna Junction to
L ittle R o c k M ississipp i R iv e r Ac T e x a s.—Owns from Little
Wilkesbarre, 10 miles; State Line & Sull. RR., Monroeton to Berwick, Rook to Arkansas City, 113 miles; Tripps to Warren, 53 miles; Rob
24 miles; also owns the Easton & Amboy RR., Amboy, N. J., to Pennsyl Roy Junction to Micawber, 4 miles; total, 170 miles. This com
vania Line, 60 miles; total operated, 346 miles.
pany was a reorganization of the Little Rock Pine Bluff & New Orleans
This is one of the most important of the coal roads Dividends on the Railroad and the Mississippi Ouachita & Red River Railroad. Both
ordinary stock have been as follows since 1870: In 1871,1872.1873, those companies received land grants and State aid bonds, and this com
1874 and 1875,10 per cent paid; in 1876, 9; in 1877, 5 ^; in 1878,1879 pany is involved with others as defendant in the suits by Arkansas State
and 1880, 4 ; in 1881, 5*2; in 1882, 6^; m 1883 and 1884, 8; in 1885, 6; bondholders. The coupons due Jan. 1,1883, were not paid, and scrip
in 1886,4. Prices of the common stock In Philadelphia since 1377 were was offered to bondholders for two years’ interest to be funded. Fore
as follows: In 1878, 32%®42:%; in 1879, 3 3 ^ ® 5 5 ; in 1880, 46®57% ; closure suits were begun in Nov., 1885, and in Feb., 1886, E H. Win
in 1881, 571a®64i4; in 1882 58%® 67%; in 1883, 63®73%; in 1884, r>7 Chester and John Reed were appointed receivers. A new plan of reor
®717s; in ’ 85,54% a 61%; in 1886,55%®62; in l887toSept. 17, 55®57%. ganization was referred to in the c h r o n i c l e of Oct 30,1886, p. 515.
The fiscal year ends November 30. The last annual report was in tne The road was sold Deo. 15,1886, and sold again Jan. 28,1887, and pur
C h ronicle , V. 44, p. 117. It is one of the peculiarities of the company’s chased, as reported, in the interest of Jay Gould for the nominal price of
annual report that no general balance sheet is given. The earnings, $l,8t)0,000. (V. 43, p. 515, 607, 618, 738; V. 44, p, 22, 59,185, 277.)
expenses and income account for the fiscal years ending Nov. 30, w ere:
1883r84.
1884-85.
1885-86.
L ittle S c k u y lk ill.—Owns from Port Clinton to Tamanend, 28
Earnings—
$
$
$ •
miles; branches, 3 miles; total operated, 31 miles. The East MahaCoal freight.....................................
6,295,282 6,079,542 5,669,236 noy RR., was leased Jan. 12,1863, for 99 years, and sub-leased to Phila.
Other freight.................................... 1,763,429 1,617,236 2,106,469 & Reading July 7,1868. The Little Set) uykill Railroad is leased to the
Passenger, mail, express, &c........
889,496
860,139
969,05
Philadelphia & Reading Railroad for 9 J years from July 7,1868, at a
fixed annual rental
Total gross earnings.................... 8,948,207
8,556,917
8,744.756
L o n g Isla n d .—Owns from Long Island City, N. Y., to GreenOperating expenses............... ........ 5,216,073
4,888.908
5,293,816
port, N. Y., 95 miles; branches, 82 miles; total owned, 177 miles.
Net earnings................................. $3,70 ,134 $3,667,919 $3,450,940 Leased—Smithtown & Pt. Jefferson RR,, 19-0miles; Stewart RR. to Bethpage, 14-5 ; Stewart RR. to Hempstead, 1*8 ; New York & Rockaway
INCOME ACCOUNT.
1883-84.
1884-85.
1885-86 RR., 8‘9 ; Brooklyn & Jamaica RR., 9’6 ; Newtown & Flushing RR.,
3-9 ; Brooklyn & Montauk, 67 ; N. Y. Brook. & Man. Beach RR. and
Receipts—
$
$
$
Net earnings.............................'___ 3,702.134
3,667,919
3,450,940 branches, 20-1; Hunter’s Point .<St So. Side RR., 1*5; Far Rockaway
Other receipts and interest..........
) ,238,144
732,344
651,046 branch, 9-4 ; L. I. City & Flushing ifR., 14; Whitestone Br., 4; Wuodside
Br., 3'9. Total leased and operated, 165 miles. The total of all the
Total net income....................... 4,940,278
4,400,263
4,101,986 roads owned and operated is 341-4 miles.
Septem ber , 1887.]
RAILROAD
MAP OF THE
LOUISVILLE & NASHVILLE
RAILROAD
AND CONNECTIONS.
STOCKS
AND
BONDS,
61
6 2
INVESTORS’
SUPPLEMENT.
[Vol.
xlv.
Subscribers w ill confer a great fa v or by g iv in g im m ed ia te notice o f an y error discovered in these T ables
DESCRIPTION.
1Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Doe.
Amount
Par
of
For explanation of column headings, &c., see notes of
Rate
per
When
Where
Payable,
and
by
Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.
Louisville & Vashville - ( Continued) 110
Lebanon branch extension, Louisville loan........
Lebanon-Knoxville extension mort. ($1,500,000) 172
46
Cecilian Branch, 1st mortgage, sinking fund........
Consolidated 1st mortgage...................................... 392
Memphis & Ohio, 1st mort., sterling, guar............ 130
83
Memphis & Clarksville br., 1st more., sterling___
135
Mort. on Ev. Hen. & N., g o ld .................................
Collateral trust, 3d mort., gold, sink, fund............. 1,079
10-40 Adj. M., gold, coup, or reg. (red’ble aft. ’94) 783
141
1st mortgage on New Orleans & Mobile R R .........
2d mortgage
do
do
............ 141
Bonds seo’d by pledge of 2d mort. S.&N.Ala.RR.. 189
1st M., gold, on Southeast.* St.L.RR.,coup.or reg. 208
2d mort., gold, on Southeast. & St. Louis RR., cp. 208
45
Pensacola Div., 1st mort., gold................................
Mobile & Montg. Div., 1st M., ($2,677,000).......... 180
Pensacola & Selma Div., 1st M., gold ($1,248,000) 104
Pensa. & Atl., m. gold, guar., $1,000,000 pledged. 185
Louis. Cin. & Lex., 1st mort....................................
175
do
2d mort.,coup., for $1,000,000 175
L. & N. mort. on L. C.&L., gold,$3,208,000 plctgd 175
1st mort., gold, on branches, $15,000 per m ile...
86
Car trust liens ($1,721 payable each month)........
Car liens, Louisv. Cin. & L ex...................................
Henderson Bridge Co., 1st mort., g o l d ..................
Louisville New Albany <£ Chicago—Stock................
617
1st mortgage, coup, or reg......................................
288
Mort., gold, on Chic. & Ind’polis Div., coup, or reg 158
2d mortgage, gold. coup, or reg.............................
446
Consolidated mortgage gold (for $10,000,000)__
520
1863
1881
1877
1868
1871
1872
1879
1882
1884
1880
1880
1880
1881
1881
1880
1881
1881
1881
1867
1877
1881
1887
1882
$1,000
1,000
1,000
1,000
£200
£200
1,000
1,000
1,000
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100 &c.
1,000
1,000
1,000
1881
1,000
100
1,000
1,000
1,000
1,000
1880
1881
1883
1886
The Long Island Railroad went into the hands of a receiver October,
1877, but in 1881 the company resumed possession. The second mort
gage bonds were issued to take up floating debt of various classes.
The control of the company was sold to the “ Long Island Company,”
controlled by Mr. Austin Corbin and others, in Deo., 1880. In July,
1881, the stock was increased from $3,260,700 to $10,000,000. In
August, 1881, most of the holders of Smith town & Port Jefferson
bonds and N. Y. & Rockaway bonds agreed to exchange their bonds for
the consolidated mortgage, bearing 5 per cent.
No annual re ports have been issued and the only information obtained
Is from the statistics furnished the State Authorities. The road has been
much improved in its operating department under the present manage
ment.
From Oct. 1, 1886, to June 30, 1887 (9 mos.), gross earnings were
$1,961,089, against $1,8 i4,15 1 in 1885-6; net, $682,236, against
$591,837; surplus over fixed charges, $273,655, against $203,611.
The reports for four years made to the RR. Commissoners gave gross
earnings, &c., as follows. The surplus in 1885-86 overall pavments
and dividtnds was $185,204.
1882-83.
1883-84.
1884-85.
1885-8.6354
354
354
342
Miles operated. ..................
Earnings and Expenses—
$
$
$
$
Passenger earnings...............1,695,177 1,759,597 1,807,346 1,878,447
Fri ight earnings.................. 716,743
720,630
727,623
798,817
276,005
291,069
317,508
Miscellaneous earnings___ 271,169
Gross earnings............ 2,685,089 2,756,232 2,826,478 2,994,772
E xi enses and taxes.......... 1,683,814 1,859,505 1,795,252 1,872,325
$333,000
Pledged.
900.000
7.070.000
3.500.000
2,015,660
2.380.000
9.684.000
5.000.
5.000.
1.000.
1.960.000
3.500.000
3.000.
600.000
Pledged.
Pledged.
2.000.
2.850.000
892.000
50,000
1.350.000
,971,000
18,942
1.959.000
5.000.
3.000.
2.300.000
855.000
3.500.000
000
000
000
000
000
6
A. & 0.
6
M. & S.
7
M. & S.
7
A. & O.
7
J. & D.
F.
& A.
6 g6 g- J. & D.
Q.—Mar
i f : M. & N.
J. & J.
I e - J. & J.
6
A. & O.
6 g. M. & S.
3 g. M. & S.
6 g. M. & S.
M. & N.
! * ' M. & S.
6
F. & A.
7
J. & J.
7
A. & O.
6 g. M. & N.
M. & N.
5 g- A. & O.
N. Y., 50 Exchange pi.
do
do
do
do
do
do
London, Baring Bros.
do
do
N. Y., 50 Exchange pi.
do
do
do
do
do
do
do
do
London, Baring Bros.
N. Y., 50 Exchange pi.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Philadelphia.
Louisville, Ky.
6 g- M.'&'S. N. Y., 50 Exchange pi.
000
000*6*
6 g.
6 g*
6 g.
& "j. N.Y.,Nat.Bk. Commerce
& A.
do
do
& A.
do
do
& O.
do
do
July
Aug.
Feb.
Jan.
1, 1910
1, 1911
1, 1888
1,1916
leased and controlled, 410 miles; total operated June 30,1886, 2.023
miles. Also owns the Richmond Branch (leased to Kentuoky Central),
34 miles, and the Cecilian Branch (leased to Ches. O. & So. W.), 46 miles,
and controls, by ownership of a majority of the stock, the Nashville
Lnattanooga & St. Louis RR., 580 miles; the Owensboro & Nashville, 84
mnes; the Pensacola & Atlantic, 161 miles; the Nashville & Florence
RR., 56 miles ; Birmingham Mineral Railroad, 11 miles, and Henderson.
Bridge and connecting track, 10 miles—total, 902 miles; also, as joint
lessees with the Central of Georgia, is interested in the Georgia Railroad
and its auxiliaries, 679 miles.
Organization, L eases, &c.—The Louisville & Nashville was chartered
March 2,1850, and opened between Louisville and Nashville November,
1859. The Memphis branch, completed in I860, was operated in con
nection with the Memphis & Ohio and Memphis Clarksville & Louisville
roads, which were purchased by the L. & N. The other roads embraced
in the system have been purchased outright or are controlled absolutely
by ownership of a majority of the stock, except those under leases, as
above described. The liabilities for interest are treated mostly as
belonging directly to the Louisville & Nashville Company. The South
east. & St. Louis RR., which was reorganized after foreclosure of the
St. Louis & Southeastern, Nov. 16,1880, is leased to the Louisville A
Nashville for 49 years, and the L. & N. issues its bonds as above,
secured on the road, about 210 miles long in Indiana and Illinois.
There is also $999,500 of S. E. & St. L. stock. The fiscal year of L.
& N. ends June 30. Annual election is held early in October.
Stock, and Bonds.—At the close of the fiscal year (June 30) 1880 the
capital stock was $9,059,361, and in Nov., 1880, the stock dividend o f
100 per cent was made, raising the amount to $18,133,513. In October,
1882, the company listed at the Stock Exchange $3,080,000 stock sold
by the city of Louisville, raising the stockoutstanding to $21,213,513,
and $3,786,487 more was then listed, raising the amount to $25,000,000. In Oct., 1884, the remaining $5,000,000 unissued was offered to
a syndicate at 22*2 with the $5,000,000 bonds at 55, raising the stock to
the full limit of $30,000,000. (See V. 39, p. 409.)
All the dividends paid since 1870 were as follow s: In 1871, 7 per
cent; in 1872, 7 per cent; in 1873, 7 per cent; in 1877, 1*3 per cen t;
in 1878, 3 per cent; in 1879, 4 ; in 1880, 8, and 100 per cent in stock :
in 1881, 6; in 1882, 3 ; nothing since.
Prices of the stock from 1872 to date have been: In 1873,
50®79; in 1874, 53®59; in 1875, 36Lj®40; in 1876, none; in 1877,
26® 41; in 1878, 35®39; in 1879, 35@89is; in 1880, 77® 174; in 1881,
79'®110i2; in 1882,46^3® 100%; in 1883,40%®58ifl; in 1884. 228j « 5 1 % ;
in 1885, 22®51%; in 1886, 33»8@69; in 1837 to Sept. 16, 570704:.
The general mortgage of 1880 is for $20,000,000, of which the bal
ance unissued is reserved to pay off prior liens, and the mortgage covers
840 miles of road subject to such liens. The Louisv. & Nashv. LebanonKnoxville bonds of 1881 cover 110 miles, subject to prior liens, and 63
miles from Livingston to State line as a first lien. The Pen. & Atlantic
is a separate company and the bonds are not a direct liability of the
L. & N. Co., but principal and interest are guaranteed by L. & N. A
sinking fund begins Feb., 1889. The P. & A. has issued to the L. & N.
$1,000,000 land grant bonds pledged for advances to the P. & A.
The third mortgage trust deed of 1882 is made to E. H. Green and
John A. Stewart as trustees, and has a sinking fund of 1 per cent
annually begun in February, 1885, the bonds drawn being redeemable
at 110. The bonds are secured by pledge of a large amount of stocks
and bonds belonging to the Louisville & Nashville Company and
held as collateral security by the trustee of the mortgage. The
securities pledged were stated in detail in V. 41. p. 445, the par value o f
bonds being $9,633,000 and stocks $18,529,700 ; total, $28,162,700.
The 10-40 Adjustment mortgage bonds were issued in 1884, and
cover 783 miles of main iine and branches, subject to the prior liens,
and are a second lien on the trust securities pledged under the truss
deed of 1882. See V. 39, p. 409. •
The Henderson Bridge Co. bonds are not a liability of the L. & N. The
bridge is owned by a separate company, with a stock of $1,000,000, o f
which the L. & N. Co. holds $501,000; the Bridge Co. is guaranteed
gross receipts of $200,000 per year by the several roads using it.
The mortgage bonds of 1887 on branches are issued at $15,000 per
mile. U. 8. Trust Co. is trustee of the mortgage, and th i lien covers the
Cumberland Valley Branch, the Ind. Ala. & Texas RR. and a number of
others. (V. 44, p. 751.)
Operations , F inances, &c.—The Louisville & Nashville system hav
ing been developed in its present extensive form since 1879 has a short
history. The 100 per cent stock dividend declared in 1880 was made
before the working and result of the newly-acquired roads could be
fully developed.
From July 1,1886, to July 31,1887 ( l mo.) gross earnings w e re $ l,32«,663, agst $1,257,207 inl885-6; net, $542,306, agst $550,182.
The annual report for 1885-86 was in the Chronicle, V. 43, p. 486.
The comparative statistics (including 1836-87) were as follows for the
roads operated as the Louisville & Nashville system proper
1883-81.
1384-85.
1885-86.
1886-87.
Total gross earns...... $14,351,093 $13,936,347 $13,177,010 $15,080,584
Oper’g ex. (excl.tax.) 8,823,782
8,182.255
8,213.290 9,047,053
Net earnings................... 1,001,275
896,727 1,031,226 1,122,447
Lease rentals........................ 282,466
287,69$
297,559 304,063
In terest................................ 209,059
190,876
207,922 312,335
There are also real estate mortgage, $238,000, 5s and 7s; time loans.
$200,000, at 6 per cent. (V. 43, p. 191, 7 4 5 ; V. 44, p. 212, 586; Y. 45,
p. 142, 212.)
L o n s Isla n d City & F lu s h in g .—Road from Long Island City to
Great Neck, 14 miles; branches, 8 miles; total, 22 miles. This is a reoranization of the Flushing & North Side road, foreclosed December 11,
880. The stock is $500,000; par, $100. The income bonds are pay
able at will. The company is liable for $25,000 of New York & Flushing
bonds, due 1920. Leased to Long Island RR. for 50 years, the lessee
taking 60 per cent of gross earnings and $17,500 for fixed charges. In
1883-84 gross earnings were about $213,000, of which 40 per cent to
this company was $85,035; in 1884-5, rental $116,537; in 1885-6,
rental, $102,495. Alfred Sully, President, New York City. (V .45,p.53.)
L o s A n geles & San D ie g o .—Florence to Santa Ana, Cal., 27
miles. Leased to Cent. Pac., and rental in 1886 was $33,374. Capital
stock, $570,800. Chas. Crocker, Pres., San Francisco.
L o u isia n a W e s te r n .—(See Map o f So. Pac) - Owns from Lafayette,
La., to Orange, Texas, 112 miles, leases extension in Texas, 7 m.; total,
112 miles. Leased and operated by the South. Pac. Co., being part of the
through line between New Orleans and Houston. From Jan. 1 to July
31, in 188 7 (7 mos.), gross earnings were $152,416, against $357,267
in 1886; net, $203,001, against $177,097. In 1886 gross earnings
were $644,689 ; net, $329,217. Surplus over interest and all charges,
$163,559. Gross earnings for year 1885 were $627,317; net, $343,445.
Stock is $3,360,000. (V. 43, p. 133, 163; Y. 44, p. 344, 369, 6 20.) *»
L o u isv ille E v a n sv ille & St. L o u is.—Line of road. New Albany,
Ind., to Mt. Vernon, Ills., 182 miles; branches to Jasper & Gentryville, 72
miles; trackage, Louisville, Ky., to New Albany, Ind., 6m ; total oper
a t e d , 260 miles; opened Oct., 1882.
The road was formerly the
Louisville New Albany & St. Louis, foreclosed in 1878. In Oct., 1881,
a consolidation was made with the Evansv. Rockport & Eastern, and the
$900,000 of E. R. & E. 1st mortgage bonds stand as a prior lien on that
division. The foreclosure sale was made June 9,1886. The plan of re
organization was in V. 41, p. 720, by which 1st mortgage bondholders
took new second mortgage bonds and a first mortgage of $2,000,000
w asissuedas apriorlien. Tne stock is $1,500,000 pref. 5 per cent, noneumulative, and $3,500,000 com mon; the par of all shares is $100. The
Huntinburg Tell City & Cannellton RR. (24 miles) bonds are guaran
teed by this Co. In 1885-6 gross earnings were $786,229; net, $213,357. In 1884-85 gross earnings, $716,119; net, $142,224. (V. 43 d
125, 274, 302, 431, 452; V. 45, p. 142, 304.)
V'
L o u isv ille & N ash v ille.—(See Map.,)—L ine op R oad .--M ain
ine—Louisville to Nashville, 185 miles; branches—Junction to Bardstown, Ky., 17; Junction to Livingston, Ky., 110; Livingston to Jelioo, Ky.. 61 ; Montgomery to Mobile, 179; New Orleans to Mobile, 141;
branch to Pontchartrain, 5 ; Paris, Tenn. to Memphis, 259; East St.
Louis, HI., to Evansville, Ind., 161; June., 111., to Shawneetown, 111., 41,
Belleville, 111., to O’Fallon, HI., 6; Pensacola, Fla., to Pensacola Junction;
Fla., 4 4 ; branch to Muscogee dock, 1; Louisville, Ky., to Newport, Ky.,
109; Junction to Lexington. 67: Louisville H. Cr. & W’port. (n. g.) 11Selma to Pineapple, Ala., 39; Henderson to Nashville, 135; Junction
to Providence, 16; Pensacola extension, 26; total owned, 1,612 miles;
leased and controlled—Junction to Glasgow, Ky., 10; Nashville to
Decatur, 119; Decatur to Montgomery, 183; Junction to Wetumpka, 6*
Junction to Shelbyville, 19; Louisville Transfer, 4 ; No. Div. Cumb. & Net earnings.............
Ohio, 27; Lebanon to Greensburg, 31 Elkton to Guthrie, 11; total Per ct. of ex. to earn.
f
J.
F.
F.
A.
Oct. 15, 1893
March 1, 1931
Mar. 1, 1907
April, 1898
June 1, 1901
Aug., 1902
Dec. 1, 1919
Mar. 1, 1922
Nov. 1, 1924
Jan. 1, 1930
Jan. 1, 1930
April 1, 1910
March 1, 1921
Maroh 1, 1980
Mar. 1, 1920
May 1, 1931
Mar. 1, 1931
Aug., 1921
Jan., 1897
1907
Nov. 1, 1931
May 1, 1937
Oct. 1,1887-89
1888
Sept. 1, 1931
5,527,311
61*48
5,754,092
58*71
4,963,720
62*33
6,033,531
60*00
S e p t e m b e r , 1887.]
RAILROAD STOCKS AND BONDS.
63
64
INVESTORS’
SUPPLEMENT.
V ol. X L V ,
Subscriber« w ill confer a great favor by giving Immediate notice o f any error discovered In tbese Tables.
DESCRIPTION.
Miles Date
For explanation of column headings, Ac., see notes of
of
on first page of tables.
Road. Bonds
Louisville New Orleans <t Texas—Stock..................... 534
1st mortgage, coup, or reg....................................... 455 1884
2d mort. income bonds, cum. (payable at 105). ..
188 5
Land grant income bonds (not cumulative).......... 455 1884
Lykens Valley—Stock...................................................
21
Mahoning Coal—Common stock.................................
43
Preferred stock, guar, by L. S. & M. S....................
43
1st mort., coup., pr. & in t , guar., by L. S. A M. So
43 18S4
Maine Oentral—SAoeik........................ ..........................
527
1st mortgage, consolidated.......... .
t ................. 304 1872
Collateral trust bonds for Mt. Desert Branch.......
4L 1883
Sinking fund i0-20 gold bonds...............................
1885
Bonds ($1,100,000 loan) A. A. K. R R .....................
55 1860-1
Extension bonds, 1870, gold....................................
18 1870
Maine Central loan for $1,100,000......................... 109 1868
European & North American (Bangor loan)..........
56 1869
Leeds A Farmington Railroad loan..... ..................
36 1871
Androscoggin Railroad, Bath City loan.............
30 1866
Portland & Kennebec, consolidated mortgage___
71 1865
Manchester dt Lawrence—Stock.................. ...............
26
Mannattan ( Elev.)—Consol, stock...................... .
32
Metropolitan Elevated, 1st mortgage....................
18 1878
do
2d M. (guar, by Manhat’n).
18 1879
N. Y. Elevated, 1st M.(payable at 105 after 1896)
14 1876
do
Debentures, coup..........................
14 1886
Marietta Columbus <£- N.—1st M.,gold,(Mar.Minerai)
42 1885
Marietta <&Sorth Georgia—1st M., gold, $7,000 p.m. 120 1881
2d mort. ($6,000 per mile)............................
120 1881
New ist mortgage, gold ($16,000 per mile)
112 1887
Marquette U. <p. o .—Common s tock ..........................
156
Pref. stock (6 per cent div. guar, by D. 8. S. & A
156
1st mort., M.AO., coup. (int.guar. byD 8 S.&A
50 1872
M. H. & O. mortgage (int. guar, by D. 8. S. <v A.)
90 1878
INCOME ACCOUNT.
Bonds—Princi
INTEREST OR DIVIDENDS.
Size, or
When Due.
Amount Rate per When Where Payable, and by pal,
Par Outstanding
Slocks—Last
Value.
Cent. Payable
Whom.
Dividend.
$100
1,000
1,*>00
1,000
20
50
50
1,000
100
100 Ac.
1,000
100 Ac.
500 Ac.
100 Ac.
500 Ac.
100 Ac.
100 Ac.
100 Ac.
100
100
1,000
1.000
1,000
1.000
lOOAo.
1.000
1,000
l.OuO
100
100
100 Ac.
1,000
$4,550,000
10 , 000,000
7,«99,000
1, 000,000
600,000
1.373.000
372,6 »0
1.500.000
3,603,300
4,176,400
694.000
599.000
1.100.000
496,500
756,800
1,000,000
633.000
425.000
1,166,700
1.000,000
24,638,440
10,818,000
4.000,000
8,500,000
1,00'»,000
650.000
68«,0i0
480.000
806.000
2,378,670
3,278,456
1,427,500
576,200
4
5
6
W. A 8. N. Y., R. T. Wilson A Co.
do
do
M. A 8.
do
do
M. A S.
New York, Treasurer.
Q.—J.
N. Y. Union Tr. Co.
do
do
6
6
6
6
5
Ihi
6
6
7
5
6g.
£ gfil’
J. ' Ä 'j .
J. A J.
F. A A.
A. A O.
J. A D.
F. A A
M’nthly
A. A O.
J. A J.
J. A J.
J. A J.
Q .-J .
A. A O.
M. A N.
Q .-J .
J. A J.
M. A N.
J. A J.
M. A S.
M. A N
J. A J.
J. A J.
J. A J.
3
8
6
F. 'Ä A.
J. A D. Boston, N. Eng. Tr. Co.
M. A S.
do
do
5
3
5A7
5
!* •
?*•
I® '
Boston, 2d Nat. Bank.
Bost., Am.LoanA Tr.Co.
Boston, 2d Nat. Bank,
do
do
do
do
do
do
Bost., Merch’ts’ Nat.Bk.
Boston, 2d Nat. Bank,
do
dò
do
do
Manchester and Boston.
N. Y., Mercantilo Tr.Co
do
do
do
do
do
do
do
do
N.Y., Farmers’L.AT.Oo
N. Y. ,Boody ,McLel. ACo.
do
do
Sept.
Sept.
Sept.
July
1,
1,
1,
2,
1934
1934
1934
1887
July 1, 1887
July 1. 1934
Feb. 15,1887
April 1,1912
J u n e l, 1923
Feb. 1, 1905
1890 to 1891
Oct., 1900
July, 1898
Jan. 1, 1894
July, 1891
July, 1891
April 1, 1895
May 2. 1887
Oot. 1, 1887
July, 1908
Nov. 1, 1899
Jan. 1, 1906
Mar 1, 1916
May 1,1915
July 1, 1911
July 1, 1911
Jan. 1, 1937
In 1883
Aug. 15, 1887
June 1, 1892
Mar. 1. 1908
1884.
1885.
1886.
$369,300
1886-87. Interest.................................. $369,300
$461,538
Rentals, insurance and taxes. 213,823
217,951
223,869
$
50,000
6,033,531 Interest on car trust bonds..
50,000
50,000
Income from invest’s
479,858
$«37.2 1
$735,407
Tptal charges.................. $633,123
5,800,144
$288.832
$94,747
5,952,683
5,171,530
6,513,389 Deficit.................................... $533,831
Disbursements—
Percentage of operating er.
87'26
79"27
66‘62
Taxes......................
309,450
William. Dowd, President, N. Y. (V. 44, p. 5 9 ,9 0 ,3 4 2 , 401, 553, 5 8 4 ,
379,845
370,814
365,316
621, 713.)
Rentals.................. .
67,000
58,333
15,000
4,207,223
4,026,543
4,085,706
L o u isv ille N ew Orleans & T ex a s—(See map)—Line of road
Divid’son L. A N., N.
4,315,819 Memphis, Term., to New Orleans, La*, 456 miles; Leland to Huntington*
AD.andM . A M ...
113,090
116,242
117,095
Miss.,
22 miles; Washington Co. branoh, 34 m iles-total owned. 512
Georgia RR. deficit..
11,000
49,299
44,815
miles. Leased -Clinton to Port Hudson, La,, 22 miles; total operated,
Miscellaneous..........
8,377
7,542
10,297 .
53 4 miles. This road was built in the interest of the Huntington system
of roads, and forms the connecting link in that svstem across the
Total disbursements. 4,716,145 4,637,806
4,643,727
4,681,135 Continent from Norfolk to San Francisco. The income bonds are a first
Balance, su rplus.... t l,116,337 11,356,890
mortgage
on 759,000 acres ot land in the Yazoo Delta. The first mort11692,495
1,832,254
gageoonds are issued at $30,000 per mile on the mam line and $20,000
t $32,338 to be refunded, included in surplus,
per mile on the branch lines. The second mortgage bonds are “ in
comes,” receiving 'merest only when earned, but unpaid interest is
i $42,012 to be refunded, included in surplus.
II $164,692 to be refunded, included in surplus.
cumulative; afrer Seot., 1888, these bonds may be paid off at 105. Mr.
R.
T. Wilson, Pres., N. Y. From Jan. 1 to July 31. in 1887 (7 months),
Balance sheet |for the four years ending with 1885-86 is given below: gross
earnings were $1.936,079, against $842, i 41 in 1886; net,
$247.177, againsi $156,049. Gross earnings for year 18'6, $1,803,785;
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
net,
$551.222.
net, $3b0,711. (V. 44, p. 60,
1882-83.
1883-84.
1884-85.
1885-86. 185, 308,434.) Gross in 1885, $1,390,717;
'
*v
'
Assets—
$
$
$
$
Road,equipment, Ac. 67,385,426 67,776,064 67,930,874
L
y
k
en
s
V
a
lle
y
,—Owns
from
Millersburg,
Pa., to Williamstown
,433.991
Timber A quar. lands
715,773
688,024
689,941
598,746 Pa., 20 miles; branoh, 1 mile; total operated, 21 miles. It is a
Stocks owned.......... Ì8,565,852 t6.904.853
2.005,590
298,347 coal road leased and operated by the Northern Central Railroad since
Bonds owned..........
1,940,623
4,050,673
4,249,861
435,098 July, 1880, and previously by the Summit Branch RR. The lease is for
StksAbds. held in tr’t 9,527,878
9,527,878
9,527,878
527,878 999 years from March 1,1866, and the rental is $62,500 per annum.
Bills A acc’ts. receiv.
2,011,330
1,922,«03
1,771,487
9 <5,654
M a h o n in g Coal R a ilr o a d .—Andover to Youngstown, O.. 38
Materials, fuel, A c..
833,112
762,273
726,624
926,262 miles, aud branches for ore and coal, 5 miles; total, 43 m. On July 1,
Cash on band............
242,929
297,316
404,714
303,976 1884, the road was leased in perpetuity to the Lake Shore A M. S. The
So. A No. Ala. R R ...
1,454,904
1,565,968
1,733,805
2,071,723 L. S. A M. So. guarantees the principal and interest of the 1st mortgage
Nash. A Dec. R R ___
573,044
599,478
603,250
618,148 bonds, and guarantees 5 per cent per annum on the pref. stock.
Other roads..............
921,690
1.172.928
1,567.793
635,978
M ain e C en tral,—Mileage as follow s: Main line, Portland to Ban
C. C. Baldwin acc’t{.
1.005.929
850,809
850,808 gor, Me., via Augusta, 136 6 miles; branches, Cumberland Junction to
Sinking fund............
50,000
50,000
50,000
Skowhegan, 90 7 miles; Bath to Farmington, 71-2 miles; Crowley’ s
Profit and loss..........
2,479,344 2,068,6ó6 Junction
to Lewiston, 4 7 miles; total owned, 303-2 miles. Leased—
Burnham Junction to Belfast, 3 3 1 miles; Newport Junction to Dexter,
Total .assets........ 94,222,561 96,324,187 94,591,970 93.705,275 14 m iles; Brewer Junction to Bucksport, 18T miles; Bangor to VanceLiabilities—
$
$
$
' $
boro, 114-1 miles; Penobscot Switch to Mt. Desert Ferry, 41-7 miles ;
Stock......................... 30,000.000 30,000,000 30,090,000 30,000,000 total leased, 221 milis Total operated, 527‘2 miles.
This was a consolidation in 1862 of the Androscoggin A Kennebec
Bonded debt*........... 57.903,230 57,530,712 61,958,314 61,355,254
Louisville b on d s....
850,000
850,090
850,000
201,000 Railroad and the Penobscot A Kennebec. In August, 1873, the Port
land A Kennebec, Somerset A Kennebec and Leeds A Farmington rail
Debentures...............
567,400
529,800
.........
Bills payable............
526,558 3,599,266
189.279
41,229" roads were also consolidated with the Maine Central.
There are also $58,000 5 per cent debenture bonds due 1894 and
Interest.....................
445,359
475,759
499,435
501,523
Miscellaneous..........
36,094
34,933
34,774
34 327 $20,000 Shore Line 6 per cents due 1923. The annual report was pub
June pay-rolls, A c..
1,130,936
1,236,152
1,060,168 1,571,937 lished in V. 43, p. 773, for the fiscal year ending Sept. 30.
FISCAL RESULTS.
Profit and loss..........
2,762,984 2,067,565
........
1882-83.
1883-84.
1884-85.
1885-86.
Total gross earnings $2,835,494 $2,816,373 $2,839,779 $1,001,076
Total liabilities.. 94,222,561 96,324,187 94,591,970 93,705,275 Expenses and taxes.
1,839,707
1,750,710
1,730,902
1,820,740
* The bonds deposited in the $10,000,000 trust have been deducted here
Neteamings.......
$995,787 $1,065,663 $1,108,877 $1,180,336
t Includes $5,000,000 L. A N. stock unissued.
$ An open account, the company claiming that Mr. Baldwin is indebted
INCOME ACCOUNT
to it in this sum
Receipts—
1882-83
1883-84.
1884-85.
1885-86.
—(V. 44, p. 59,185, 308,434,458, 586, 713, 751; V. 45, p. 26, 239,304. Net earnings............
$995,787 $1,065,663 $1,108,877 $1,180,336
29,121
10,421
7,828
7,400
L o u isv ille N ew A lb a n y & C h icago—(flee map)—Operates from Other receipts..........
New All »any, Ind. (opposite Louisville, Ky.), to Michigan City, Ind., 289
Total
in
com
e....
$1,024,908
$1,076,084
$1,116,705
$1,187,736
miles; Howland Junction to Hammond, Ind., 160 miles; Bedford, Ind.,
TKrmirsame,ntn_
to Switz City, 43 miles; Orleans, lad., to French Lick 8pr., 17^
pa id............
$182,958
$189,000
$189,000 $189,000
miles; total owned, 509 miles; leased—Hammond to Chicago, 20 miles; Rentals
Interest
on bonds...
644.146
661,395
701,767
707,130
Howland’s Junction to Indianapolis, 4 miles; New Albany to Louisville,’ Dividends..........
197,522
215,532
215,541
215,578
5 miles; total leased, 29 miles; total operated, 617 miles. A lease for
999 years with Chicago A Western Indiana at $127,000 per year gives
Total disbursed $1,024,626 $1,065,927 $1,106,308 $1,111,708
entrance to Chicago.
$282
$10,157
$10,397
$76,028
The Louisville New Albany A Chicago was opened in 1852 and sold Balance....................
(
V
. 43, p. 102, 217, 334, 458, 618, 7 7 3 .)
in foreclosure Dec. 27, 1872, and reorganized without any bonded debt.
M anchester & L a w ren ce.—Owns from Manchester, N. H., to
In Aug., 1881, consolidated with Chicago A Ind. Air Line, and stock
increased to $5,000,000, giving 15 per cent increase to stockholders of Methuen (State Line), 22*4 miles; leased, Methuen Branch of the
Boston A Maine Railroad, 3% miles; total operated, 26 miles. Road in
record Aug. 31.
The consolidated bonds of 1886 were made for the authorized amount operation since 1849. Methuen^ branch is leased at a rental of $11,000
o f $10,000,000, of which $5,300,000 was reserved for the prior first per annum. Company lays claim to a two-fifths interest in the Man
mortgages, $3,000,000 used to exchange for 2d mortgage bonds o f chester A North Weare RR., which is operated by Concord RR.
In June, 1887, the M. A. L. voted to lease its road for 50 years to
1883 aud general mortgage bonds of 1884 outstanding, and the balance
•$1,70 ‘,000 used for building new road, for improvements, Ac. In June, Boston A Maine at a rental paying 10 per cent dividends. The fiscal
year ends March 31. Gross earnings in 1885-86, $177,80-, n«., $100,1887, all the car trust certificates were to be raid off.
Fiscal year ends Dec. 31. The annual report for 1886 was in V. 44, uo9. In 1886-7, gross, $172,524 ; net, $100,691. (V. 44, p. 807.)
p. 584. Earnings, expenses and charges have been as follows :
M a n h atta n E leva ted .—Road operated, 32'39 miles. This was a
corporation formed (Nov. 24,1875) to lease and operate the two elevated
„
1884.
1885.
1886.
Gross earnings.................... $1,564,436
$1,680,454
$1,919.189 railroads in New York City. Its capital stock was $13.000,000, and
Operating expenses............ 1,365,144
1,332,035
1,278,528 it was to pay the interest on the bonds of the two elevated roads
and certain dividends. The original lease of May 20,1879, guaranteed
10 per centper annum on the stocks, but this lease was amended in
Net ¡earnings.................. $199,292
$348,418
$640,661 October, 1881, by agreements among the three companies, whioh were
Receipts—
1883-84.
$
5,527,311
272,833
1884-85.
$
5,754,092
198,591
1885-86.
$
4.963.723
207,807
Vincennes
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INVESTOKS’
6 6
SUPPLEMENT.
[Vol XLV.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o i an y error discovered in these Tables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or Amount
pal, When due.
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
For explanation of column headings, &c., see notes of
Cent.
Road. Bonds Value.
Payable
on first page of tables.
Whom.
Dividend.
6
J. & D. Boston, N. Eng. Tr. Co. June 1, 1923
1883 $1,000 $1,500,000
MarquetteH.&0.—(OonVd) —Bonds for ext.,&c.,guar
1,400,000
1,000
6
A. & O.
M. H. & 0 . 1st mortg. on Mar. & West., guar........
1885
do
do
April 1, 1925
5,312,725
25
330
2,155,000
J. &‘ ‘j . N. Y.,W. H.Brown& Bros. Jan. 1. 1915
*7*
1st & 2d. mort. extension bonds, Ala. & Miss. Div. 181 1854
105,000
7
J. & J.
1867
do
do
1915
2,264,000
1,000
7 g. J. & J.
ConsoL, gold ($1,400,000 lstm . on 93m. in Tenn.) 292 1877
do
do
Jan. 1, 1915
1,000,000
1,000
J.
&
J.
6
e.
General mortg., gold...............................................
292 1884
do
do
Jan. 1, 1924
250,000
M. & N.
8
Memphis dt LitiCeRk.—1st preference mortgage___ 133 1877 l.OOO&c
May, 1883-84
2,600,000
J. & J.
8
General mort., land grant, (s. f. $10,000)............... 133 1877 250 &c
July, 1907
1,000 41,170,000
4 g. J. & J.
Mexican Central (Mexico.)—1st mort., reg., gold ... 1,340 1881
Boston, Office.
July 1, 1911
8,734,000
July 1
1,000
3
Income bonds, conv., not cumulative, reg.............
do
July 1, 1911
3,825,570
10
J. & J.
1884 10Ó, &e.
Coupon notes for interest funded............................
do
July 1, 1889
2,500,000
1,000
10
J. & D.
Debentures (secured by collateral) (V. 39, p. 733)
1885
New York.
Deo. 1, 1927
1,000 11,500,000
6 g. J. & D.
1887
Mexican National—IstM ., new, gold ($9,000 p. m).
New York.
Dec. 1, 1927
1,000 12,165,000
1887
2d mort., series “ A ” ......................................... .
6 g.
1,000 12,165,000
1887
2 d mort.j gold, series “ B ” ............... .....................
6 g.
;
l.OOO&c 7,040,000
5
3d mort. debentures (income).................................
1,000
960,000
7_g. J. & j .
1880
Texas-Mexiean, Corpus Ch.S.D.&R.G„ 1st M., gd. 161
July 1, 19C1
1,000
1,380,000
do
1st mortgage, gold ($15,000 p. m.) 165 1881
6 g. J. & j .
July 1, 1921
100 18,738,204
2
F. & A. Grand Central Depot. Aug. 15, 1887
Michigan Central—Stock............................................. 1,502
1,000 10,000,000
7 & 5 M. & N. N. Y., Onion Trust Co. May 1, 1902
Consolidated mortgage ($2,000,000 are 5s).......... 270 1872
1,000
1,900,000
8
J. & J.
M. C. Michigan Air“ Lino mortgage.. ____ _______ 103 1870
do
do
Jan. 1. I f 90
1.000
200.000
M. & N.
8
Michigan Air Line 1st mort., assumed by M. C___
10 1870
do
do
Nov., 1890
1,500,000
6
M. & S.
84 ’79-86 1,000
do
do
M. C. bonds, mort. on Grand River Valley RR. ..
Sept,, 1909
710,000
M. & N.
8
39 ’69-70 1,000
do
do
Nov. 1, ’ 89-90
100
491,200
84
Grand River Valley, stock, guar.. ..T...................
2ia J. & J.
do
do
July, 1887
....
424,000
8
M. & N.
Detroit & Bay City 1st en’d. and bridge................ 145 1872-3
do
do
May 1,1002-3
1,000
3,576,000
5
M. & S.
M. C. mort. on Defroit & Bay City Railroad.......... 145 1881
do
do
Mar. 1, 1931
1.000
1 943,000
8
M. & S.
236 1871
do
do
SeDt. 1, 1891
1,000
1,100,000
6
M. & S.
do
do
298 1880
Sept. 1, 1891
.
.
.
.
150,000
1866
M.
&
N.
Middletown TJnionville <£Water Gap—1st mortg. ext.
N.
Y.,
N.
Y.
Susq.
&
W.
1911
>13i
5 g.
—
250,000
5
J. & D.
1871
do
do
2d mort. guar................
do
do
1896
supplemented by an agreement of Nov. 14,1881, for the surrender of
the stocks of the other companies, and the issue of new stocks by the
Manhattan Company, but this was never accepted by the Metropolitan
stockholders, and, after litigation, it was decided against the Manhattan
In June, 1884, a new compromise agreement was made and afterward
ratified by the stockholders of the three companies by which all liabili
ties were assumed, and new stock was issued by the Manhattan Com
pany to the holders of stocks in the other companies, v iz : For Manhat
tan. 85 per cent in new stock; for New York, 120 per cent; for Metro
politan, 110 per cent.
There are large claims pending against the elevated roads for damage
to property on their lines, and many of these are before the courts. The
Court of Appeals’ decision was against the Company in the Lahr and
Wagner suits referred to in Y. 44, p. 173.
In 1886 the debentures of the New York Elevated were issued for
advances made by the Manhattan Co. for new equipment, new construc
tion, tax arrearages, Ac.
The stockholders of the Manhattan Elevated HR. had the privilege
July, 1886, of takiDg $600,000 stock and $600,000 bonds of the Subur
ban Railroad Co. on certain terms. See V. 43, p. 49.
From Oct.l , 1886, to June 30,1887 (9 months), gross earnings were
$6,063,389, against $5,537,347 in 1885-6; net, $2,647.642, against
$2,701,080; surplus over interest, rentals and taxes, $1,187,117, against
$1,324,827.
The reports for year ending Sept. 30 have shown the following income:
1883-4.
1884-5.
1885-6.
Gross earnings. ........................$6,726,359
$7,000,567
$7,426,216
3,967,983 4,234,601
Operating expenses.................. 3,884,949
Net earnings.......................$2,841,410
$3,032,584
$3,191,615
filterest on bonds, and rentals.. 1,381,713
1,459,043
1,531,984
Balance...................
$1,459,697
$1,573,541
$1,659,631
Deduct dividends........................ 1,170,000
1,560,000
1,560,000
Surplus....................................... $289,697
$13,541
$99,631
The following is a statement of the number of passengers carried on
the elevated railroads in New York, and the gross earnings, since the
completion of the roads:
Passengers. Earnings.
Passengers. Earnings.
83.. 92,124,943
$6,386,506
1878-79.. 46,045,181 $3,526,825 18821879 80.. 60,831,757
84.. 96,702,620
6,726,359
4,612,976 1883188081.. 75,585,778
5,311,076 188485 103,354,729
7,000,566
188182.. 86,361,029
5,973,633 1885-86 115,109,591
7,426,216
—(V. 43, p. 49, 459; V. 44, p. 173, 244, 621, 654 ; V. 45, p. 272, ¿>04,)
M arietta C olum bus Sc N o r t h e r n .—Road from Marietta, O., to
Joy, 38 m.; Branch to Stuart, 4 m., to be built. Formerly the Marietta
Mineral road, and name changed (no foreclosure). In 1887, gross earn
ings for six months from Jan. 1 were $22,479; net, $11,768. Greps
earnings m 1886-87 were $71,053; net, $39,991. W. P. Cutler, Mari
etta, O., President.
M arietta Sc North Georgia.—This narrow-gauge road, completed in
the fall of 1886, extends from Marietta, Ga., to Murphy, N. C., 112
miles, and is projected from Atlanta, Ga., to Knoxville, Tenn., 200
miles. Stock is $1,560,000. About $1,500,000 has been subscribed by
int rested parties, including $275,000 bv the city of Knoxville; and to
provide additional means required to finish and equip the road, and to
retire all the bonds heretofore issued, the company has mortgaged its
entire road, built and to be built, to the Central Trust Company of New
York, to secure first mortgage consolidated bonds for $4,500,000. The
whole amount of bonds heretofore issued was $1,166,000, the holders
of which have the right to exchange for bonds of the new issue, and
more than half of the holders have assented to the exchange, Gross
earnings in 1886-87 were $77,366; net, $40,203. R. M. Pulsifer, Presi
dent, Boston. (Y. 43, p. 547, 5 7 8 , 607.)
M arqu ette H o u g lito n Sc O n ton agon .—(See Map D uluth South
Shore <6 A.)—Owns irom Marquette, Mich., to Houghton, 113 miles;
branches, 43 miles; total-operated, 156 miles. Has a land grant of about
80,000 acres. Business consists largely of transportation of iron ore.
In Oct., 1886, a controlling interest was purchased by a syndicate in
the interest of the Duluth South Shore & Atlantic RR., with which
company a close contract was made under date of April 15,1887, by
which the D. S. S. & A. operates this road and agrees to pay the interest
on bonds and six per cent yearly on the pref. stock as it stands above.
The report for 1886-7 showed the following: Net income., $427,995.
Disbursements—Interest on debt, $305,552; dividends, $56,467; total
disbursements. $362,019. Balance, surplus, $65,976. (V. 43, p. 547 •
V. 44, p. 681; V. 45, p. 142.)
’
M e m p h is Sc C h arleston .—(»See Map o f East Tennessee Vir
ginia <£•Georgia).—Owns from Memphis to Stevenson, Ala., 272 miles ;
branches—to Somerville 14 miles, to Florence 6 miles; leased, Steven’
son to Chattanooga, 40 miles; total operated, 330 miles. This road was
leased June 2,1877, to the East Tennessee Virginia & Georgia Rail
road for twenty years from July 1, 1877. Of the consolidated mortage, $1,400,000 are secured by the old Tennessee State lien for $1,736 06, assigned to a trustee, and thus stand higher in value.
In Sept., 1883, a large block of the stock was obtained by parties inter
ested in the East Tennessee Virginia & Georgia RR., and in Sept.,
1885, this and enough more to make a majority was put in the Central
Trust Co. for the E. T. V. & G. Co.
f
From July 1 to July 31 in 1887 (1 month), gross earnings were $127,897, against $95,463 in 1886; net. $54,973, against $20,590.
For the year ending June 30,1887, gross earnings were $1,643,513;
net, $448,022, and in 1885-86 $1,323,529 gross and $386,315 net.
-< V . 43, p. 190, 368, 398, 516, 5 7 8 . 671; V. 44, p. 22, 149, 300, 551,
713 ; V. 45, p. 26,180, 239, 272, 304.) '
M e m p h is Sc D itt ie S o c k .- O w n s from Little Rock, Ark., to MemPhis, Tenn., 135 miles. Default was made Nov., 1872, and the property
sold in foreclosure. The road was again sold and reorganized April 28,
1877. The stock is $1,500 000. The company had a land grant from
Congress of 1,000,000 acres, in April. 1880, control of this company
w as purchased by parties in the interest of the St. Louis & Iron Moun
tain. Afterward default was made on the coupons and in August, ’84,
the_ property was placed in hands of trustees of the general mortgage.
Litigation ensued between the trustees and the company (St. L. & Iron M.
interest), and in Jan., 1887, the U. S. Supreme Court decided in favor of
the trustees and held they had a right to bo subrogated to the lien of
the State. In April, 1887, the road was again sold and bid in by the
Dow party, and other sales pro form a to perfect title were made May
24 and Sept 2,1887. Y. 44, p. 149,185, 495, 681; V. 45, p. 304, 341.),
M e x ic a n C e n tra l ( M e x i c o ) ,—In May, 1887, the mileage was—
Main line from Mexico City north, to El Paso del Norte 1,225 miles,
106 miles on Tampico Division, 11 miles on Guanajuato Branch, and 16
miles on the Pacific Division, and a short branch, 7 miles, to stone quarry,
made a total of 1,365 miles. Other work in progress.
The company was incorporated Feb. 25,1880, under the general law
of Massachusetts, and by transfer the company holds the charter from
the Mexican Government, granted Deo. 5,1874, for a road from Mexico
City to Leon, and by modification including lines to Paso del Norte.
Guadalajara and Laredo. The company also has other rights granted
by the State of Chihuahua. The company had a subsidy from
the Mexican Government of $15,200 p6r mile on most of the lines,
payable in “ certificates of construction to be redeemed with 8 per cent
of all duties produced at the maritime and frontier custom-houses o f
the Republic.” In June, 1885, the Mexican Government stopped pay
ing all subsidies, but resumed July, 1886, on a basis of % of 1 per cent,
increased to 1 p. et. Jan. 1,1887, and after that 1 per cent every six
months, till July, 1890 the full 8 per cent is reached. The incomes are
convertible into stock at par. The stock is $35,000,000.
The above 10 per cent coupon notes are secured by deposit of coupons,
and by an amount of Mex. Gov’t subsidy certificates equal to the prin
cipal and int. of the coupon notes. The total amount of 1st mort. bonds
issued stood in May, 1«87, at $43,670,000, and $2,500,000 of these were
deposited as collateral for the debenture bonds.
In Dec., 1885, it was proposed to reduce the interest on 1st mortgage
bonds to 4 per cent, with an agreement to pay the remaining 3
per cent in any year when earned, but not to be cumulative, and
ud to Jan. 1, 1887,
all the bondholders except $1,338,000 had
assented to this arrangement and exchanged their 7 per cent coupons for
a sheet of 4 per cents. In July, ’86, ana Jan., ’87, all coupons falling
due were paid ig in cash and in assented 1st mortg. bds. in treasury
of Co. From April 1, 1887, cash payments were resumed on the bonds,
as coupons fell due.
From Jan. 1 to July 31,1887 (7 months), gross earnings were $2.692,
157, against $2,119,804 in 1886; net, $1,196,959, against $658,852 (in
Mexican currency).
The annual report for 1886 was in V. 44, p. 619, 625. showing gross
earnings of $3,857,705; net, $1,404,617, equal in U. S. money to $1,102,071; subsidy collections in 1886, $58,437. Total subsidy collections
from the beginning, $3,782,492, equal to $3,237,589 in U 8. money.
—(V. 43, p. 88,162, 368, 547, 671, 74«. 766, 774 ; V. 44, p. 22, 149, 211,.
246, 275, 308, 343, 466, 6 1 9, 6 2 5 , 681 ; Voi. 45, p. 53, 113.)
M e x ic a n N a t lo n a l R a i l r o a d ( M e x .) —In Oct.,1886, road was fromCorpus Christi to Laredo (Texas Mexican RR.), 161 miles; Laredo to
Saltillo, 236 miles; Matamoros Div., 75 miles; branches, 27 miles; total
Northern Division, 479 miles; City of Mexico to Paszcuaro, 273 miles;
Acambaro to San Miguel, 76 miles ; El Salto line, 42 miles ; Manzanillo
to Armeria, 29 miles; branches, 34 miles; total Southern Div., 454 miles;
total road finished, 933 miles, leaving a gap of 370 miles to be completed
to connect the Northern and Southern divisions. The’ Texas-Mexiean
belongs to this company and forms pare of its line, the Mexican Nat.
owning $1,196,000 of its bt nds, and nearly its whole stock of $2,500,000;
also an interest in $248,000 of the Corpus C. b’ds. The company received
a subsidy of $11,270 per mile of road, secured by 6 per cent of the
Government receipts from customs. In July, 1885, subsidy payments
were suspended, but resumed on a graded scale in ’86. See V. 43, p. 103.
In Oct., 1886, a modified plan of reorganization was made, by which
foreclosure took place May 23, 1887, and a new mortgage at ¿9,00 0 per
mile ($12,500,000) was placed on the wholb road, most of this to be used
to complete the gap o f 370 miles, which is now in process of construc
tion. The old bonds are a second lien The stock is $33,350,000. (See
V. 43, p. 598, and V 44, Chronicle of March 19, 18»7, p. V. o f advts.)
For 1885 gross earnings were $1,3-1,6*27; net, $2o8,890. For 18«6,
gross, $1,511,855; net, $262,516. (V. 43, p. 88. 102, 245, 274, 309,
459, 598 ; V. 44, p. 275, 369, 401, 681; V. 45, p. 232.)
M ic h ig a n C e n tr a l.—L ine op R o a d .—Main line—Kensington to
Detroit, 270 miles; and Windsor to Suspension Bridge (Can. So.). 226
miles ; total main line, 496 miles. Branches owned and leased—Mich.
S e p t e m b e r , 1887.]
RAILROAD STOCKS AN D BONDS.
67
'
INVESTORS’
6 8
SUPPLEMENT.
[V o l . XLV,
Subscribers w i ll confer a great favor by g iv in g im m ediate notice o f any error discovered in these T ables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal.When Due.
Amount Rate per
Par Outstanding
of
For explanation of column headings, <&c., see notes of
When Where Payable, and by Stocks- Last
Cent. Payable
Whom.
Road. Bonds Value.
on first page of tables.
Dividend.
Milw. Lake Shore dt West—Commofi stock..................
Preferred stick ........................................ ................
Consol, mort., gold....................................................
577
577
346
Equipment b on d s.................................................. ..
Michigan Div., 1st mortg , gold (for $3,000,000)..
Ashland Division, 1st mortgage, gold....................
St. Paul Eastern Grand Trunk, 1st, gold, int.guar.
Funding notes...........................................................
Equip 1e n t............................. .................................
Convert, debentures for $2,000,000 gold.............
ODtonagon, 1st M.. gold ($15,000 a mile)..............
Milwaukee dt Lake Winnebago—1st mortgage, gold.
Income bonds, gold (cumulative)............................
Debentures, golcl. . . 1................................................
Milwaukee dt Northern—1st mortgage.......................
Bonds for $8,000,000 ($2,155,000 are reserved)..
Mine Hill dt Schuylkill Haven—Stock.........................
Mineral Range--Stock..................................................
1st mort., coup........................................................
1st mort., gold, on branch and extension............
Houghton extension, g o ld .......................................
Mortgage of October, 1.886......................................
Minneapolis dt Pacific—1st mortg., $15,000 p. mile
Minneapolis dt St. L.—1st M., Mim to Merriam June.
1st mortgage, Merriam Junction to State Line ..
1st mortg., Minneapolis to White B. Lake, guar..
1st mortgage, gold, coup. (Al. Lea to Fort Dodge)
Improv. and equip. m „ 1st series, coup.................
Mortgage on Southwestern extension...................
2d. bds., inc., 5 & 10 yrs. (White Bear to Ft. Dodge)
1st mortgage, gold, Pacific E xtension............. .
Wis. Minn & Pacific.—1st mortg...........................
85
40
56
16
65
....
1881
1881
1882
1894
1885
1883
1835
1885
1887
1886
1882
1882
1884
1880
1884
126
143
137
17%
12% 1873
4% 1885
1886
18*6
261 1836
27 1877
93 1877
15 1877
102 1879
360 1882
53 1880
172 1880
92 1881
205 1884
$2,000,000
5,000,000
4,350.000
500.000
180,000
1,281,000
1,000,000
923,000
200,000
5<*0,000
650,000
225,000
1,000
1,430,000
1,000
520,000
200,000
2,155,000
1,000
1,976,000
1,000
50
4,081,900
400 000
100
198,000
100 &e.
100,000
1,000
100,000
500 *0.
250,000
100 &c.
3,733,000
1,000
1,000
455,000
950,000
500 &c.
1,000
280,000
1,015,000
1.000
1,000
2,000,000
1,000
636,000
1,000
500.000
1,382,000
1.000
1,000
3,080,000
$100
100
1,000
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Air LineRR.. 115; Jol.& N o. Ind., 45; Grand River Valley, 84; Jaok.
Lan.& Sag., 295; Kal. & So. Hav., 40 : Det. & Bay City, 152; Sag. Bay
& N o .W .,6 4 ; Tol. Can. So. & Det., 56; Can. So. Br. Co., 4 ; Mich. Mid,
& Can., 15; Canada So. branches, 99 ; Sarnia Chat. & Erie, 7; Erie &
Niagara, 31; total branches. 1,006 miles; total operated, 1,502miles.
There are 121 miles of second track and 569 miles of side tracks.
Org an ization , L eases , &c.—The Michigan Central was chartered in
1846; the whole line, Detroit to Kensington, was opened in 1852. The
Detroit & Bay City road was foreclosed Feb. 12, 1881, and pur
chased for the Michigan Central, which leased it and put a mortgage
on the road. The other lines described above as leased are all held by
the Michigan Central nominally under leases at fixed rentals, but are
practically owned. The land grant came from the Jackson Lansing &
Saginaw company as stated below.
In Nov., 1882, a close contract was made with Canada Southern for
working its road by the Michigan Central and for the division oi
net profits over all charges as follows—one-third to Canada South
ern and two-thirds to Michigan Central; but the latter company is
entitled to an increase on this proportion as it diminishes its Interest
charge by payment of bonds or otherwise.
Stocks an d B onds —The Michigan Central stock has remained at the
same amount since 1873. Prior to 1873 it was a regular 10 per cent
stock. In 1872-73 paid 5 per cent and 4 in scrip, but afterward paid
no dividend till 1878, and since then irregular amounts. Since 1870
dividends have been: In 1870-71, 10 per cent; 1871-72,10; 1872-73,
5 a nd4 in scrip; in 1878, 2; in 1879, 3 ^ ; in 1880, 8; in 1881, 6%; in
1882, none paid; in 1883,5; in 1884. 3; in 18>-5 and 1886, nil.
The range m prices of the stock has been as follows: In 1871,114®
126; in 1872, 113® 120; in 1873, 65®111; in 1874, 68%®95%; in
1875, 53®82^4; in 1876, 345s® 65%; in 1877, 355s ®74%, in 1878,
58%®75; in 1879, 733t®98; in 1880, 75® 130%; in 1881, 84^® 120;
in 1882, 77® 105: in 1883. 77® 100%; in 1884, 5l% ® 94% ; in 1885,
46%®793t; in 1886, 61*2®983±; in 1887 to Sept. 16, 80®95%.
The Jackson Lansing & Saginaw (!ebt is assumed by Michigan Central,
which also pays $70,000 per year on the stock of $2,000,000; the pro
ceeds of J. L. & S. lands go to pay bonds, and in 1886 sales amounted
to 8,088 acres for $201,479 (including timber), leaving 304,146 acres
unsold, and land notes on hand, $324,931.
Oper ation s , F inances , &c.—The Mich. Central after 1873 becoming
liable for heavy obligations on leased lines, the company suspended
dividends. The road on through business is much affected by the com
petition between Chicago and points eastward, and by the rates on
through freights It is operated under a close contract with Canada South
ern and the earnings of both roads are included in the statistics below.
The compaiative statement for six months ending June 30, June
being partially estimated in 1887, is as bt low.
1887.
1886.
Gross earoinss.................................................$6,361,000
$5,436,000
Operating expenses and taxes...................... 4,511,000
3,952,000
Per cent of oper. expenses to earniDgs........
70 9
72-7
Net earnings......................................................$1,850,000
Interest, rentals, &c........................................ 1,276,000
$1,484,060
1,230,000
Surplus.....................................
Canada Southern proportion.
$574,000
170,000
$194,00**
47,640
Michigan Central proportion,
Dividend..................... „ ..........
. $404,000
(2%) 374,764
$146,360
...........
Balance.......................................................Sur. $'¿9,236 Sur $146,360
The annual report in V. 44, p. 583, gave the following:
income account .
Receipts—
Net earnings ...........
Int. and dividends..
1883.
$
4,268,129
67,701
Total in co m e ..___
Disbursements—
Rentals p a id ............
Interest on d e b t ___
Can. So. (i3 of n e t)..
4,335,830
$
184,310
2,249,106
611,571
1884.
$
2,699,945
79,858
2,779,803
$
184,310
2,454,292
20,448
T otal...................
3,044,987 2,659,050
Burplus for div’d s ...
1,290.843
120,753
Dividends................
............
1,124,292
Rate of dividends ..
(6)
............
Balance............. sur.166,551 sur.120,753
1885.
$
2,692,791
72,216
2,76\007
$
184,310
2,482,443
8,679
1886.
$
3,891,149
45,190
3,936,339
$
184,?10
2 ,3 9 1,674
407,335
2,675,432
2,984,319
89,575
952,020
............
374,764
• - — ____ (2)__
sur.89,575 sur.577,256
* The balance to credit of income account Deo 31,1886, was $1,494,124.
—(V. 43, p. 6,23 ; V. 44, p. 6, 22, 5 8 3 ; V. 45, p. 5, 26.)
M id d le to w n U n io n v ille & W a te r G ap.—Owns from Mid
dletown, N. Y., to Unionville, N. J. State Line, 13 miles. Is controlle«
byN . Y. Bus. & West, by ownership of stock. In 1886 extended first
mortgage bonds for 25 years at 5 per cent. Gross earnings in 1885-86
39,' 90; net, $16,171; def. under interest. &c., $8,931. Gross in 1884 5,
38,489; net, $12,791; deficit under interest, &c., $14,303. Stock,
$149,850. (V. 43, p. 162.)
f
"3%
6 g.
6
8
6 g.
6 g.
6 g.
7
6
5 g.
6
6 g.
5 g.
6 g.
6
6
3%
2%
8
5
5
4
5
v g.
7 g.
7 g.
7g.
6
7
7
6 g.
6
J. & ‘ J.
M. & N.
M. & N.
J. & J.
J. & J.
M. & S.
J. & J.
J. & D.
J. & J.
F. & A.
A. & O.
J. & J.
J. & J.
A. & O.
J. & D.
J. & D.
J. <fc J.
Q .-J .
J. & D.
A, & O,
J. & J.
J. & J.
J. & J.
J. & J.
J. & D.
M. & N.
J. & D.
J. & J.
J. & D.
J. <fc J.
A. & O.
A. & O.
New York.
N.Y., N. Bk. of Com’roe
do
do
N. Y.. S. 8. Sands <fe Co.
N. Y. Bk, of Commerce
N. Y. Bk. of Commerce
N. Y., S. S.Sands & Co.
do
do
do
do
do
do
do
do
New York & Boston.
do
do
do
do
N.Y. ,Mereh.Exch. N.Bk
New York City.
Phila.M.H. & S. H. R.Co.
N. Y., Winslow, L. & Co.
do
do
do
do
do
do
do
do
N. Y., Am. Ex. Nat. Bk.
N.Y., Bank of No. Am.
do
do
N. Y., Cent. Nat. Bank.
N. Y., Bank of No. Am.
do
do
do
do
do
do
do
do
do
do
July 1 5 ,18 8 7
May 1, 1921
May 1, 1911
1892
July 1, 1924
Mar. 1, 1925
Jan., 1, 1913
1887-8
1890-95
Feb. 1, 1907
1896
July 1, 1912
July 1, 1912
April 1, 1904
June 1, 1910
June 1, 1913
July 15, 1887
July 5, 1887
June, 1888
Oct. 1, 1915
Jan. 1, 1916
Oct. 1, 1926
Jan. 1, 1936
Jan. 1, 1907
June 1, 1927
Jan. 1, 1907
June 1, 1909
July 1, 1922
Dec. 1, 1910
1890
April 1, 1921
Oct. 1, 1934
M ilw a u k e e L a k e Shore & W e ste r n .—From Milwaukee, Wis.,
to Ashland, Wis., 391 miles, of which 4 miles are leased; branches—
Hortonville to Oshkosh, 23 miles; Manitowoc to Two Rivers, 6 miles;
Eland June, to Wausau, 23 miles; Antigo to Malcolm, 11 miles ; Monico
to Rhinelander, 16 miles: Clintonville to Oconto, 56 mile«; branch to
mines, &c„ 36 miles; branches to Michigan mines, 4 miles; Watersmeet branch, 5 miles; Ontonagon River branch, 6 miles; total, 577
miles. This company was organized in 1876 as successor to the former
company foreclosed in 1875. preferred stock has a preference to the
extent of 7 per cent from net earnings. The debentures are convertible
into stock at par at anytime within ten days after the date fixed for
payment of dividends on common stock. The equipment bonds are
redeemable $30,000 p«-r year at par; the funding notes $100,<»<>0 per
year; and the equipments of 1885 at $100,000 per year after lo 9 0 ; the
Ontonagon 1st mortgage $¿5,000 per year at par.
From January 1 to June 30 in 1887 (6 months) gross earnings were
$1,451,711, against $942.763 in 1386; net, $616,832. against $±21.472;
total net receipts, $649.131, against $440,205; balance over fixed
charges, $369,879, against $189*769.
The annual report for 1886 was in V. 44, p. 399. Gross receipts in
1985, $1,374,807; net, $430,417; interest and rentals. $366,845. In
1886, gross receipts were $2,353,982; net, $1,031,380; interest and
rentals, $507,210. (V. 43, p. 162, 274, 334; V. 44, p. 60, 90,185, 275,
308, 343, 3 9 9 , 553 ; V. 45, p. 240.)
M ilw a u k e e & L ake W in n e b a g o . — Owns from Neenah to
Schleisingerville, Wis. Built in 1882 and leased for 99 years to Wiscon
sin Central at 37% per cent of gross earnings as rental; but after
$175,000 per year is received the balance of net earnings is to be equally
divided. The $l,0(i0 000 debentures were authorized to be issued as
required for improvements, and they are convertible on any coupon day
into pref. stock; the lessee pays interest on them till 1894. Pret stock,
6 per ct. cum., $780,000; com. stock, $520,000; par of shares, $100.
M ilw a u k ee & N orthern—(See Map.)—Owns from Schwartzburg,.
Wis., 1o lio u Mountain. 199 miles; branches—Menasha and Appleton to
Hillbert.Wis., 21 m ; Ellis June, to Menominee, 22 m ; total operated,
242 miles. Uses Chicago M. & St. Paul track, 9 miles, into Milwaukee.
Other lines in progress June, 1837. See full statement in V. 44, p. 813.
The stock is $4,131,000. From Jan. 1 to June 3u, in 1887 (6 mos.) gross
earnings were $441,403; net, $168,919; fixed charges, $96,90 j ; suri lus, $72,019. Gross earnings in 1886, $616,226; net, $232,085;
fixed charges, $200,961; surplus, $31,124. (V.43, p. 368; V. 44, p. 244,
276, 781, 809, 813; V. 45, p. 53.)
M in e H i ll & S c h u y lk ill H a v e n .—Owns from Schuylkill Haven,
Pa., to Locust Gap, Pa„ with branches, 137*$ miles Road was leased
May 12,1864, to the Philadelphia <s Reading Railroad Co. for 999 years
at a rental of $326,552 per year. There is no debt, and 8 per cent divi
dends are paid. Operations are included in lessee’s returns.
M in eral R a n g e .—Houghton, Mich., to Calumet, M ich, 15%
miles; branch, Franklin Station to Franklin, 2 miles; total 17% miles.
Dividends have been regularly paid since the opening of the road.
In 1886 gross earnings were $8i,244; net, $40.522; surplus over inter
est and dividends, $3,922. in 1885, gross earnings, $81,429; net, $33,.
538. This road was uuderthe H. S. Ives management, but in August,
1837, a new board was elected. (V. 43, p. 132; V. 45, p. 272.)
M inneapolis & Pacific.—From Minneapolis northwest to Ran
som, Dakota, 223 miles. Completed Deo., 1886; 7 4 miles further west
in Dakota in progress. Owned in part by capitalists in Minneapolis,.
and Income certificates for $4,327,OoO are held by the projectors and
friends of the company. Bonds sold in New York in 1887 by Jno. H.
Davis & Co.; they are limited to $12.500 per mile for road and $2,500
per mile for equipment. Hon. W. D. Washburn, President, Minneapolis,
Minn, rv. 44, p. 204, 211, 213.)
M in n ea p o lis & St. L o u is.—Owns main line, Minneapolis to»
Angus, Iowa, 269 miles; Pacific Division,Hopkins to Morton, 92 miles ;
Kaio Branch, 2 miles; Lake Park Branch, 1% miles: total operated, 354%
miles. Leases trackage from Minneapolis to St. Paul over St. Paul &
No. Pacific RR ; also owns from Minneapolis to White Bear, 12 miles,
which is leased to the St. Paul & Duluth RR.
The bonds of the $1,100,000 mort. (1877), numbered from 1,101 to
1,400, for $500 each ($150,000 in all), are guaranteed by the Bur. Cedar
Rap. & No. RR. The bonds on the 15 miles were issued by the Minneapolis
& Duluth Railroad before it was absorbed by this company. Preferred
stock of $8,000,000 is authorized and $4,000,000 issued; common stock,
$9,000,000 authorized and $6,000,000 issued; par of both $100 per
share. The projected Southwestern extension runs from Fort Dodge*
£a., towards Kansas City, Mo., 325 miles, with a branch to Council
Bluffs, 140 miles. R. R. Cable, President, Chicago.
The Wis. Minn & Pacific, Red Wing, Minn., to Eagle Lake, 84 miles,
andMoiton 10 Watertown June., 121 miles, is leasedand operated by this
company, but the M. & St. L. has no ooligation for the bonds. Com. stock,
$2,055,000; pref., $3,080,000. Net earnings of the M. & St. L. in
1886 were $50,495. Chas. F. Hatch, President, Minneapolis.
From Jan. 1 to July 31 in 1*87 (7 months), gross earnings of the M &
St. L. were $835,653, against $806,163 in 1886; net, $2<j5,441, against
$206,869.
In 1886. gross earnings, $1,549,620; net, $494,700, rentals, <frc., r e
ceive , $95,552; net income $590,252; deduct rentals, $45,606, and
interest, $352,510, deficit, $8,163. (V. 43, p. 3 1 7 ; V. 44, p. 495; Y. 45,.
p. 3 03.)
S e p t e m b e r , 1887.]
RAILROAD STOCKS
AND BONDS,
69
70
INVESTOKS’
SUPPLEMENT.
[VOL. XLV.
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered in these T a b les.
Bonds—Pri uoi________________ DESCIl IPTION.____________
1
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal When due.
Amount
Par Outstanding
IFor explanation of column headings, &c., see notes of
of
Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Minneapolis Sault Sle. Marie <t Atlantic—1st M., g
250 1886 $1,00 J $3,001,0-10
J. & J. London <fc New York. July 1, 1926
5
g.
1,000
9.106.000
Minnesota <£Northwestern—1st M., g., $16,000 per m 460 1 8 8 4
5 g. J. & J. N.Y.. J. G. King’s Sons. July 1, 1934
1,000
977.000
Mississippi <&Tennessee—1st mortgage, senes “ A ” . 100 1877
8
A. & O. N. Y., Harriman & Co. April 1, 1902
1,000
1.003.000
1st mortgage, series “ B, ” (a second lien).............. 100 1877
8
J. & J.
do
do
July 1, 1902
100 46.405.000
■¡Missouri Kansas <6 Texas—Stock................................ 1,441
1,000
2.067.000
1st m., gold, sink. fund, onroad and land (U.P.S.Br) 182 1868
j . I T j . N.Y., Mercantile Tr. Co. Jan., 1899
1,000
1st mortgage, gold (Tebo. & Neosho)........ ; ........... 100 1870
347.000
7 g. J. & D.
do
do
June, 1903
Consolidated mortgage, gold, on road and land... 786 1871-3 1,000 14.843.000
7 g. F. & A.
do
do
1904-1906
756,500
2d m., income, exchangeable for geni. m. 5 per ct. 786 1876 500 &o.
6
A. & O.
do
do
April
1, 1911
1,000
Boonevillo Bridge bonus, gold, guar.......................
844.000 _ 7 g. M. & N.
1873
do
do
May 1, 1906
•General consol. M., gold ($0,230,000 are 5s).......... 1,565 1880-6 1,000 26.510.000 5 & 6 g. J. & D.
do
do
Dec.
1, 1920
East Line & Red River.............................................
347.000
1880
6
J. & D.
do
do
1900
i',6b’o
667.000
Hannibal & Central Missouri, 1st and 2d mort ... *70 1870
7 g. M. & N.
do
do
May
1.
1890
1,000
7.954.000
'Internai;. & Gt. North’n, 1st mort., gold................. 776 1879
do
do
6 «• M. & N.
Nov. 1, 1919
7.054.000
do
2d mortgage........ ............................ 776 1881 500 &c.
6
M. & 8.
do
do
1909
225.000
do
Colorado Bridge bonds....................
1880
7
M. & N.
do
do
1920
100 45,000,000
Missouri Pacific —Stock.......................................... . 1,483
13t
Q .-J . N. Y., Mercantile Tr. Co. Oct. 1, 1887
1,000
1st mortgage, gold ^Pacific RR. of Mo.)................
7.000.
000 6 g. F. & A.
283 1868
do
do
Aug., 1888
1.000
2.573.000
2d mortgage (s. f. $50,000 per annum).................. 283 1871
7
J. & J.
do
do
July, 1891
800.000
Real estate (depot) bonds......................................
1872 500 &c.
8
M. & N.
do
do
May 1, 1892
1,000
3d mortgage............................................................... 299 1876
3.828.000
i
M. & N.
do
do
Nov., 1906
1,000 14.714.000
Consol. M., gold, for $30,000,000 (coup, or reg.).- 990 1880
6 g. M. & N.
do
do
Nov., 1920
1,000
5.000.
000 5 g. M. & 8.
Collateral trust bonds, gold.....................................
1887
do
do
Jan. 1, 1917
1,000
Carondelet Branch, 1st mortgage..........................
245.000
do
Ì 5Ì3 1873
6 g. A. & O.
do
Oct.
1, 1893
1,000
190.000
Leavenworth Atch. & N. W., 1st mort., guar.......
21 1870
7
A. & O.
do
do
Oct. 1, 1889
650.000
Bt. Louis & Lexington, 1st mort.............. .............
1880 500 &c
5
F. & A.
do
do
Aug., 1920
1,000
800.000
80 1886
-Leroy & Caney Valley RR. 1st mort., gold, guar..
do
5 g. J. & J.
do
July 1, 1926
1,005
750.000
Verdigris Vail. Independence &\V., 1st M.,g., guar.
75 1886
do
5 g. M. & S.
do
Feb. 1, 1926
1,000
4.000.
000 7
«St. L. Iron Mt. & So., 1st mort., coupon................ 210 1867
F. & A.
do
do
Aug. 1, 1892
1,000
6.000.
000 7 g. M. & N. New York or London.
do
2d M.. gold, coup., may be reg............... 310 1872
M a y l, 1897
1,000
2.500.000
do
Ark. Branch, 1st mort., gold, land gr* •
99 1870
7 g. J. & D. N. Y., Mercantile Tr. Co. June 1, 1895
1,000
1.450.000
do
Cairo Ark.& T., 1st, gold, cp .orreg.......
71 1872
7 g. J. & D.
do
do
June
1, 1897
7.428.000
do
Cairo <feFulton. 1st, g., on road & land.. I 304 1870 I 1.000
7 er. J. & J.
do
do
Jan. 1, 1891
B lln n e a p o lis S a u lt Ste. IH arle de A t la n t ic .—Road flushed from
Minneapolis to Gagen,Wis., 231 m., and west from Sault Ste. Marie, 30 m.
‘ Through line Minneapolis to Sault Ste. Marie to be completed by Jan.,
1888. Total length, as projected from Minneapolis to Sault Ste. Marie,
i s 465 miles. The first m rtgage bonds were issued in 1887 at $20,000
per mile, and out of the proceeds a sum was retained to pay coupons
up to July, 1689. (Abstract of mortg. V. 43, p. 243.) Common stock
authorized, $8,000 OOn; issued $2,426,0 0; 7 per ct. pref., $4,000,000;
<issued $2,426,000. W. D. Washburn, Pro\, M'nneapolis, V. 45, p. 166,
179,211,243.
lH iu n e a o ta & N o r t h w e s t e r n .—(See Wap)—Line of road from St.
SPaul, Minn., to Dubuque iowa, 253 miles; Chicago, 111., to I. C.
June., 111., 97 miles; L\le Branch, Hayfield to Manley June, 47
m iles; Waverly Branch. Sumner, la., to Hampton, la., 63 miles: total
460 miles. The Chicago Division was opened in August, 1887, the
Illinois Cenfral heir g used between Freeport and Dubuque. Under
■construction, r. C. June, to Portage Curve, 111, 52 nrles. In January,
- 1887, bought the Dubuque & Dakota RR., Waverly, la., to Hampton, 41
miles, and Sumner to Waverly, 23 miles. At Oelwein connects
with the Ch. St. Paul & K. CityRR. The road from Lyle to Manley
■ Junction, 20 miles, is leased to the Central Iowa. The common stock
- -issued is $6,316,700; pref. stock, 7 per cent non-t umulative, $4,514,200. The first mortgage bonds arc authorized at $16,000 per mile for
■ -single track road; $4,0 )0 per m. for terminals in large cities and for
,r bridges over Miss and Mo. rivers; and $8,000 per mile for double tra -k.
Gross earnings from Jan. 1 to July 31, in 1887 (7 mos.), were $613,028,
■ against $223,013 in 1886; net, $17*,074, against $79,<»86. For the
year 1886-87 gross earuings were $852,476; net, $245,679; rentals.
•etc.. $21,023; net receipis, $266,703; surplus over accrued interest,
$36,532. See annual renort for 188 i-7 in V. 45, p. 303. A. B. Stickuey,
Pres., St. Paul. M inn.-(V. 43, o. 7 2 , 162, 480, 516, 607; V. 44, p. 204 ;
W . 45, p. 55,166, 303.)
M is s is s ip p i & T e n n e s s e e .—Owns from Grenada, Miss., to Mem
phis, Tenn., 100 miles. Capita) stock, $825,455. Debt was consolidated
a s above in 1877J A majt rifcy of stock was sold in May, 1886, to E. H
Harrircan and others identified with the 111. Central RR., on July 1,
X886, payment of interest on the Series B bonds was deferred for
-about six weeks. The present managers state that the net earnings of
viorraer years have been overstated through the omission of taxes and
general expense s from operating expenses. See annual report for 1885-6
i n Ch ronicle , V. 43. p. 773.
Gross i arnings in 1884-5, $489.549 ; in 1885-6, $425,718. Operating
expenses in 1884-5, $363,704; in 1885-6, $328,360. Net earnings in
3.8«4-5, $ 125.84.' ; in 1885-6, $97,358. Deficit for year after paying in
te r e s t $32,555 in 1884-5, against $61,042 in 1885-6.
-— (V. 43, p. 23, 634, 7 7 3 , 7 75; V. 44, p. 211, 212.)
M is s o u r i K a n s a s & T e x a s .—(See Wap Mo. Pac.)—L ine op R oad
—Hannibal, Mo., to Denison, Tex., 575 miles; branches, Dallas & Green
ville extension, 54 miles; Parsons, Kan., to Junction City, Kan., 157
.hB&iles; Denison, Tex., to Taylor, 258 miles; Whltesboró to Henrietta,
Tex., 8 a miles; Denison to Mineóla, Tex., 103 miles; Denton, Tex., to
' Dallas, Tex., 37 miles; Echo, Tex., to Belton, 7 miles; Trinity to Ogden,
T ex ., 66 miles; coal branches', 8 miles; Jefferson, Tex., to McKinney,
Tex., 155 miles; Taylor Houston & Bastrop RR., 34 miles. Total,
1,539 miles. International & Great Northern, from Longview, Texas,
Galveston, Texas, 282 miles, of which 50 miles leased from G. H. &
J L , and Palestine, Texas, to Laredo, Texas, 415 miles; branchesHouston to Columbia, 50 miles; Phelps to Huntsville, 8 miles; Mineóla
<4o Troupe, 44 miles; leased—Round Rock to Georgetown, 10 miles;
- Henderson to Overton, 16 miles; total operated 825 miles.
O r g an ization , H is t o r y , &c.—Tne M. K. & T. Company was organized
•April, 1870, and embraces by consolidation the Union Pacific Southern
Branch, the Tebo & Neosho and other minor companies. In 1874 the Han
nibal & Central Mo. was purchased. The company made default on its
consolidated bonds in Dec., 1873, ana was onerated by a Receiver from
Dee. 30,1874, to July 1,1876. when the Union Trust Company of New
*York took possession. On Dec. 1,1880, the company took possession
■»-'Of its property, paying the overdue coupons. The company had a land
grant which has been practically closed ou t; also a grant in the Indian
TTerritory of 3,622,400 acres subject to the extinguishment of the
Indian title. The Booneville Bridge Company is a separate organiza
tion, and earns Interest and proportion for sinking fund.
At a meeting of stockholders May 18,1881, a lease to thq Mo. Pac. for
» 9 years was ratified on terms following: That the lessee operate the
»- road and pay the obligatory mortgage Interest, paying over the balance
to the Mo Kan. & Texas Co. If there Is a deficit in income the lessee
' m ay advance money to pay interest, or else the Mo. Kan. & Texas can
¿resume possession of its road.
The International & Great Northern Railroad was acquired by Mo.
Kan. & Tex. in May, 1881, by an exchange of two shares of Missouri
Kansas & Texas stock for one of International & Great Northern,
and the Int. & Gt. N. stock is held in the treasury of the M. K. & T. The
V in t . & G. N. roads were sold in foreclosure. July 31 and Oct. 14,1879.
St o c k and B onds .—The stock has ranged as follows since 1877,
Viz.: In 1878, 2® 7i8; in 1879, 53g@35%; in 1880, 281e@4914; in 1881,
; S478® 54; in 1882, 2638®42V, in 1883,19!2@3478; in 1884, 9 ^ 2 3 ^ - ,
~ In 1895,14;s'@37*8; in 1886, 21á3.-:i4; in 1887, to Sept. 16, 23@3414.
The consol. 11 ort. 7s, due 1904-6, had a sinking fund of 1 per cent a
year, beginning in 1874, but the sinking fund not having been carried
oat, it was reported in 1887 that bonds for all back years, including
y .Interes', iritir b c Hiledin for redemption.
The general consolidated mortgage of 1880, with supplemental mort
gage in 1886 enlarging the amount to be issued, is at $20,000 per mile
on allroad built and to be built; of which a sufficient amount was
reserved to take up first oonsol. and prior bonds, and for the East Line
& Red River bds. in 1887 a compromise was made (V. 44, p. 276) by
which most of the come bond coupon scrip was retired wiili 5 per cent
general mortgage bon Is. In Sept., 1887, an analysis of the general
11)ortgage showed: Reserved to retire underlying bonds ou old road,
$18,535,000 sixes; issued on account of new road built or acquired,
$17,280,000 sixes; total sixes authorized to dat-, $35,815,000. Fives
issued for income bonds and scrip, $9,230,000; total genl. consols, out
standing, both 5 and 6 percents, $¿6,510 000. There has been some
00
in reSar<i to the number of bonds listed at the Stock Exchange
and the amount actually outstinding, since the numbers from 1 to
18,217 originally reserved to retire prior liens, have been listed ever
since 1881; also the fives are listed in the same series of numbers with
the sixes, embracing the numbers from 18,218 to 28,217 inclusive.
The I. & G. N. guarantees $2,000,000 of Galveston Houston & Hen
derson 1st mortgage 5 per cent bonds.
The M. K. & T. annual report for 1886, in V. 44, p. 400, had the fol
lowing :
EARNINGS AND EXPENSES.
Earnings from —
1884.
1885.
1886
Passengers..................................... . $1,691 596 $1,592,713 $1,575,920
F lig h t............................................ 5,166.673 4,833.860
5,470,742
Mail, exp ess and miscellaneous..
458,981
427,082
404,982
Total earnings...............
Op -ratiug expensei........
$7,317,250 $6,853,655 $7.451,644
4,055,101
4.347,246
4,228,754
Ratio of expenses to earnings___
$2,970.004 $2,798,554 $1,222,890
59-41
59-1
56-74
INCOMI ACCOUNT.
Receipts—
1884.
1886.
1885.
Net earnings.................................. $2,970,004 $2,798,554 $3,222,890
Dividends, &c............................. .
457,419
189,799
126,453
Total net income..................... $3,427,423 $2,998,353 $3.349,343
D Ì.S014/7*S6771671tS_
Interest on bonds.......................... $2,439,618 $2,439,427 $2,483,363
Taxes, rentals, &c...........................
479,661
310,646 *1,502,022
Total disbursements............... $2,919,279 $2,750,073 $3,985,385
Balance for year............. ............. sur.$508.144sur.$238,280def.$636,012
* This included some adjustment of accounts with the I. & G. N.
—(V. 43. p.162,431, 516, 619, 746, 766; Y. 44, p. 90, 211, 276, 3 6 8 ,
4 0 0 , 495; V. 45, p. 166, 292, 341.
M is s o u r i P a c if ic . — (See Map.). — L in e o f R o a d . — Owns main
line from’St. Louis, Mo., to Omaha, Neb., 494 miles; 8t. Louis Ft. Scott &
Wichita, 306 miles; other branches 1,282, miles; total ¿,082 miles. In
May, 1881, the St. Louis Iron Mountain & Southern was taken in. In
March, 1887, the mileage was as follow s; From St. Louis to Texarkana,
Texas Line, 490 miles; branch lines, Mineral Point, Mo., to Potosí, Mo.,
4 miles; Bismarck, Mo., to Belmont, Mo., 121 miles; Poplar Bluff, Mo.,
to Bird’s Point, Mo. (Cairo), 74 miles; Gurdon. Ark., to Camden, Ark.,
34 miles; Knobel to Helena, 140 utiles; Newport to Cushman, 49
miles; NeelyviUe to Doniphan, 20 miles; Ailenville to Jackson, 16 miles;
Arkansas Valley Div., 113 miles; Warren Branch, 49 miles; total, 1,110
miles.
, By Dee., 1887, the mileage of Iron Mountain and Mo. Pae. combined
will be 4,200 miles. See Y. 45, p. 369.
Organization , L eases , &c.—The Pacific RR. Co. (of Missouri) was
incorporated under charter dated March 12, 1849, and road opened to
Kansas City in October, 1865. The company received a loan from the
State of Missouri.
The Pacific Railroad of Mo. was sold in foreclosure of the 3d mortgage
Sept. 6,1876, for the nominal price of $3,000,000, to C. K. Garrison
and others, and a new company organized with a stock of $800,000.
This foreclosure was afterwards contested by suit, but all litigation was
settled in April, 1885. The present company was a consolidation In
August, 1880, embracing the Missouri Pacific, St. Louis & Lex., Kansas
City & East, and Lex. & South, in Missouri; and the St. Louis Kan. &
Axiz. and Kan. City Leav. & Atch. in the State of Kansas.
The St. Louis Iron Mountain & Southern stock was taken up with
Mo. Pacific in May, 1881, on the basis of three shares of Mo. Pacific for
four shares of Iron Mountain, and the St. Louis & Iron M. stock is
held by Missouri Pacific.
Sto c k and B onds .—Under the new regime the payment of dividends
was begun on the present stock in 1880, in which year 1^2 per cent was
paid. Dividends since were as follows t in 1881, 6 ; in 1882, 6A4; in
1883, 7 ; In 1884, 7; in 1*85, 7; in 1886, 7.
The 1st mo t. (Pae. of Mo.) bonds are to be extended for 50 years at 4
per cent.
The consolidated mortgage above is for $30,000,000—trustees John F.
Dillon and Edward D. Adams. Of the consol, bonds the balance unissued
($15,290,000) is in the hands of trustees to redeem prior bonds as they
(all due.
For the payment for new lines acquired and to be acquired there was
issued in 1886 $10,000,000 of new stock at par to old stockholders, and
another $5,000,000 in 1887. Also the collateral trust bundc (Union.
I
ßtocktnn y ^ v
Se p t e m b e r ,
1887. J
RAILROAD
STOCKS AND BONDS.
!
! c
I
H
1
h\ u
CHIHUAHUA
a\ h
u
a
72
INVESTORS’
SUPPLEMENT.
[V ol. X L V ,
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered in these T a bles.
INTEREST OR DIVIDENDS.
DESCRIPTION,,
Miles Date Size, or
Amount
Rate per When Where Payable, and by
Par Outstanding
o f..
For explanation of column headings, &c., see notes of
Cent. Payable
Whom.
Road. Bonds. Value,
on first page of tables.
Missouri Pacific—( Continued) —
St.L.I. Mt.& So.,Gen.consol.M. (for $32,036,000) 1 11651 1881 $1,000 $10,353.000
6,243,000
’81to’ 7 1.000
do
do
supplemental, gold 5
3,0< 0,000
1,000
1887
Mobile A Birmingham.—lst,g..guar.($20,00o p.m.)
1,500,000
1,000
36 1887
Mobile A Dauphxn Island—1st mort., gold..............
261,000
1.000
1869
85
Mobile A Girard—2d mort., end. by Cent. Ga. R R ..
800,000
1,000
1877
3d mortg. bonds...............................................
2,950,800
130
100
Mobile A Montg.—Stock.......................................
2,689,000
1,000
179 1881
1st mort. bonds by L. A N. RR. Co...............
261,000
1,000
179
Bonds.......... .......... ................... .....................
5,320,600
100
528
Mobile A Ohio—Stock ($10,000,000).................
7,000,000
1,000
472 1879
1st mortgage, g o ld .........................................
1,000,000
1,000
55 1883
1st mortgage, extension, gold.........................
4,893.000
1879
1,850,000
1879
2d
do
do
do
600,000
1879
3d
do
do
do
900,000
1879
4th
do
do
do
1,500,000
81 1879
Montgomery A Eufaula—1st mortgage.................... .
675,000
1,000
45 1886
Montgomery A Florida—1st mortgage, g o ld ....----800,000
50
Montpelier A Wells River—Stock............................... .
5,000,000
Morgan's La. A Texas—Stock........................................
5,000,000
1,000
102 1878
1st mort., gold (N. O. to Morgan City)................
1,477,000
1,000
157 1880
1st mortgage, Alex. Extension, gold . . . . ..............
50 15,000,000
132
Morris A Essex—Stock............................................ .
5.000,000
500
Ac.
1864
84
1st mortgage, sinking fund....................................
2,999,000
84 1866 500 Ac.
2d mortgage..............................................................
284,000
Var’us 1,000
4,991,000
1,000
34 1871
•Gen. m. A 1st on Boonton Br. Ac. (guar. D.L.&W.
6,557,000
1,000
137 1875
Consol, mort. (for $25,000,000) guar. D. L. & W.
1,025,000
Special real estate mortgage..................................
2,220.000
1,000
1882
Steal estate terminal mort. (guar. D. L. & W )—
800,000
100
15
Nashua A Lowell—Stock............................................
*73-’80
300.000
Bonds ($100,000 are gold 5s. J. & J., 1900).........
5 g.
5 g.
5 g.
« g8
4
3
6
6A8
A. A
A. A
J. A
M. A
J. A
J. A
O. N. Y., Mercantile Tr. Co.'
O.
do
do
J.
New York Agency.
N.
New York Agency
J. N. Y., H, B. Hollins A Co.
D.
do
do
N. Y., L. AN. Office.
M. Ä N.
do
do
Various
N. Y. A Louisville.
....
Stocks—Last
Dividend.
April 1, 1931
April 1, 1931
Jan. 1,1937
May 1, 1927
Jan. 1, 1889
June 1, 1897
May, 1887
May 1,1931
1890 A 1900
6 g. J. A D. N.Y. Farmers’ L’n A Tr. Dec. 1, 1927
6 g. Q.—Jan
do
do
July 1,1927
Ÿearly. N.Y., 11 Pine Street.
7
7
Last pd. 2 p. c. in 1881. Redeemable
only by
7
sinkingfund.
7
6
J. A J. N.Y., Nat. City Bank.
July 1. 1909
New York.
6 g. M. A N.
1926
2
Boston.
(Ï)
Dec.,
1884
7
A. A O. N .Y ., So. Pac. Co.
A
p
rili,
1918
J.
A
J.
do
do
6 g.
July
1,
31« J. A J. N. Y., Del., Lack A W. July 1, 1920
1887
M A N.
7
do
do
M a y l, 1914
F. A A.
7
do
do
Aug.
1,
1891
J. A J.
7
do
do
Jan. 1, 1900
A. A O.
7
do
do
Oct.,
1901
7
J. A D.
do
do
June 1,1915
7
4LjA5 J. A J. N .Y ..D el. Lack. AW. July 1, 1912
3ifl M. A N. 2d Nat. Bk., Nashua.
May 2. 1887
6 A 5 g. IF. A A.
do
do
1893 & 1900
(
Trust Co. of N. Y.,Trustee) secured by mortgage bonds of new railroads Artesia, Miss., to Starkville, Miss., 11 miles; Muldon,Miss., to Aberdeen.
-at $12,000 or $15,000 per mile. The Leroy & Caney Valley Railroad, hi Miss., 9 miles; total owned, 527 miles; total operated, 688 miles. In
Kansas. 80 miles, is leaded and bonus guaranteed by Missouri Pacific July, 1885, the gauge was changed to standard, 4 feet 8*3 inches. In
Dec., 1885, the lease of the St. Louis A Cairo RR. (161 miles) was taken
as also the Verdigris Valley Independence A Western.
Operations , F inances , &c.—The earnings and income account below for 45 years at a rental guaranteed to amount to $165,000 per year.
A default was made May 1, 1874, and two trustees and receivers took
are for the Missouri Pacific and its branches only (1,103 miles); for, not
withstanding the merger of St. Louis & Iron Mountain stock and lease oi possession May 8,1875, and the company was reorganized without fore
Missouri Kansas A Texas, the operations of all the roads have been closure. The holders of debentures have one vote for each $100, and each
year they instruct the Farmers’ L. A T. Co., trustees, how to vote at
kept separate and are so reported.
The annual report ot Mo. Pacific for 1886 was published in the Chron the stockholders’ meetings upon the majority of the stock of the Mobile A
Ohio Railroad Company, the power to vote upon which is irrevocably
ic l e , V. 41, p. 368. The earnings, income account and balance sheet,
with the Farmers’ Loan A Trust Company, until the extinguishment
have been as follows:
EARNINGS AND EXPENSES.
of said debentures. The capital stock authorized by the charter is
810.000,000, or 100,000 shares of $100 each, of which there have been
Earnings—
18a4.
1885.
1886.
Passengers........................................$2,< 43,457 $2,004,578 $2,020.597 issued 53,206 shares. The debentures are secured by a deed of trust of the
Freight.............................................. 6,047,339 5,153,025
5,5l8,2fe6 land, about 1,143,222 acres, and receive 7 per cent, if earned. In Jan.,
Mail express and miscellaneous... 686,832
785,959 1,106,127 1886. there were in the sinking fund $437,000 of the first debentures.
In August, 1881,7 per cent was declared on 1st preferred incomes 7
Total e a rn in g s ........ . . . . . . . . $8,777,628 $7,943,562 $8,645,020 also 2 per cent on 2d incomes. In August, 1882, 2 per cent on the
4.338,319
5,238,723 first preferred incomes; in 1883,3 per cent; in 1884,5 percent in
Operating expenses..................... . 4,492,877
1«85, 3 1« per cent.
Net earnings................................ $4,284,751 $3,605,243 $3,406,297
The report for 1885-86 was published in the Ch ronicle , V. 43, n. 606.
INCOME ACCOUNT.
Income account for four years ending June 30 was as follow s:
Receipts—
1884.
1885.
1886
INCOME ACCOUNT.
Net earnings...................................... $4,284,750 $3,605,243 $3.406,297
1882-83.
1883-84.
1884-85.
1885-86.
206,822
79^,835 1,360,832 Gross earnings........... $2,271,058 $2,278,917 $2,101,025 $1,962,328
Dividends, A c .................................
$731,450
$524,839
$537,324
Net receipts. . . . ..........$630,034
Total net income.................... $4,*91,572 $4,398,078 $4,767,129
Disbursements—
T)¡JthliY*St-1YIPM.Is
$471,200
Interest on mort, bonds $456,000
$482,400
$481,600
Interest on bonds.......................... $1,798,200 $1,822,727 $1,875,470 Interest on incomes....... 159.o<>0
265,000
Dividends paid..............................
2,098,105 2,098,000)
1,626
49,038
Miscellaneous.................
Rate of dividend............................
7
7
> 3,185,762
Taxes, rentals, A c.....................
775,036
568,848 J
Total disbursem’ts . $61«,626
$736,200
$482.400
$530,638
Balance.......................Sur.$13,408 Def. $4,750 8ur.$42,439 8ur.$6,686
Total disbursements.................. $4,' 71,341 $4,489,575 $5,061.232
M on tgom ery A E u fa u la .—Montgomery to Eufaula, Ala., 80
Balance fcr year........................ def.$179,769 def.$91,497 def.t294,l03 miles. The road was foreclosed May 1,1879, bought by W. M. Wadley,
St . L ouis I ron M ountain A South ern .—This company defaulted on and the present company organized.
Operated under contract by
its interest in 1875 and finallv made a compromise with its bondholders. Cent. RR. of Georgia. Stock is $620,000. Dividend of 10 per cent paid
There are yet outstanding $346.384 of old income bonds of the several in April. 1883.
issues, and $73,000 of the Cairo A Fulton second mortgage bonus.
M on tgom ery A F lo r id a .—Owns from Montgomery, Ala., to
The Mercantile Trust Co., of New York, is trustee of the general Live O >k, 45 miles, and in progress towards Chattahoockie, Fla. This
«onsol. mortgage. The stock is nearly all held in the treasury of the was formerly the Montgomery Southern road, and was foreclosed in
Missouri Pacific Railway Co., having been retired in May, 1881, by the Mav, 1§86, and reorganized. C. W. Scofield, President, 44 Broadway.
Issue of three shares of Mo. Pac. stock for four of St. Louis A Iron
M on tp elier A W e lls R iv e r .—Owns from Montpelier to Wells
Mountain. The sales of land in Arkansas on which the Cairo A Fulton River, Vt., 38 miles. Reorganized January, 1877. D. R. Sortwell,
bonds have a lien are given in the report for 1886 as 44,1»4 acres President, East Cambridge, Mass. Gross earnings in 1884-5. $92,814;
net, $17,774. Gross in 1885-6, $94,747; net, $8,262. Gross in 1886-7,
at $2*88 per acre. Lands yet unsold, 886,157 acres.
The report for 1886 was published in the Ch ronicle , V. 44, p. 368, $95,112; deficit under expenses, $4(i9. (V. 44, p. 717.)
M o rga n ’ s L ou isian a A T ex a s R a ilro a d A Steam ship C o.—
400, and the income account was as follows:
INCOME ACCOUNT.
(Sue Mup o f So. Pac. Go.—The road owned is from New Orleans to Cheneyville, 204 miles: branches, 55 m.; Cheneyville to Alexandria (under
Receipts—
1884.
1885.
1886.
Net earnings...................................$3,464,599 $3,619,4’ 6 $ 3 ,«43,281 track agreement). 24 m.; total, 283 miles. In Feb., 1883, the stock was
Other receipts....................................
44,727
44,741
159,800 sold to the South. Pac. parties, and the South. Pac. Company held (Deo. 31,
1885) $4,062,700 out of the whole stock of $5,000,000. This company’s
Total net income.......................... $3,509,328 $3,664,157 $3,603,081 property consisted of seventeen iron steamships plying between New
14T'SG'lYh€>YkjtS_
York and New Orleans and between Gulf ports, also wharves, ware
Interest on bonds............................... $2,206,854 $2,215,304 $2,214,131 houses, and terminal facilities, besides the capital stock of railroad and
Taxes, br'ge, and car exp.,Ac.........
554,093
397,522
350,144 other companies, including a majority interest in the capital stock of the
Total disbursements..................$2,7b0,947 $2,s 12,826 $2,564,275 Houston A Texas Central Railway Co., Ac. There are also $251,Surplus for year............................... $748,379 $1,051,331 $1,038,806 716 of old New Orleans Opelousas A G. W. bonds due 1889, assumed
—(V. 44. p. 212, 244, 343, 3 6 8 , 370, 3 9 9 , 621, 681, 808 ; V. 45, p. 240, by this company. In 1886 gross earnings were $4,138,525; net, $1,059,518. In 1885 gross earnings were $4,232,018; net, $1,602,476. From
243, 869, 373.)
M ob ile A B irm in g h a m , -(See Map).—Mobile to Vernon, Ala., on Jan. 1 to July 31, 1887 (7 months), gross earnings were $2,239,407,
the East Tenn. Va. A Ga road, about 150 miles, in couise of construc against $2,249,967 in 1886; net, $366,180, against $191,488 (V. 44,
tion. Abstract of mortgage V. 45, p. 274. (V. 44, p, 681, 701; V. 45, p. 344,434.)
M o rris A E ssex.—(See M *p o f Del. L. A W.—Owns from Hoboken, N.
p . 274.)
•
M ob ile A D au p h in Isla n d R R . A H a rb o r C o.—Frsm Mobile J.,to Pniiiipsbuig, N. J., 84 miles; branch, Denville, N. J., via Morris A
to Dauphin island, Ala., 36 miles. This road is intended to form an out Essex Tunnel, to Hoboken, N. J., 34 m.; leased Dover to Chester, 10 m.;
let at deep water on the Gulf of Mexico for the railroads Orntering at Newark A Bloom. RR., 4 m.; total operated, 132 miles. In 1868 this road
was leased in perpetuity to the Del. Lack. A W. RR. The lessees assume
Mobile. Stock is $1,500,009. Robeit Sewell, N. Y., President.
all liabilities of the Mor. A Essex RR. and pay 7 per cent per annum on
M o b ile A G irard .—Owns from Columbus, Ga., to Troy, Ala., 84 the capital stock, and they also agreed to pay 8 per cent in case the
miles. Common stock, $985,415; preferred stock, $278,967, and $3,980 Morris A Essex earns 10 per cent on its stock m any one year after the
Pike County stock. From June 1,1886, this road was leased to the year 1874. The Moms A Essex is important to the Delaware Lacka
Central of Georgia for 99 years at a guaranteed dividend of l ^ per wanna A Western as a route with terminal facilities on New York Har
cent p«-r anuum. There are $19,000 3d mort. 6 per cent», due 1897. bor, but the actual earnings on the road show a large annual deficit for
In ’85-86, gross earnings, $217,757; net, $59,185. (V. 43, p. 103, 398.)
the lesse e company after the payment of rental. The loss to lessee was
M o b ile A M on tgom ery—(See map Louisville A Nashville) — in ’ 80, $1,012,416: in ’ 81. $985.890: in ’ 82. $941.550: in ’8?, $1,104,218;
Owns from Montgomery, Ala., to Mobile, Ala., 180 miles. The in ’84 about $1,100.000; in ’ 85 and ’ 86 about $900,000. (V. 45, p. 13.)
old road wau sold in foreclosure Nov. 16,1874, and purchased by bond
N ashua A L o w e ll.—Owns from Lowell, Mass., to Nashua, N. H.
holders, who organized this company on a stock basis. The stock is’ owned 15 miles. On Oct. 1,1880, a lease for 99 years to the Boston A Lowell
by the Louisv. A Nashv. RR. Co., which now operates it. The old mort. was made. The rental was $60,000 per year, equal to 7 ^ percent
debt outstanding is about $230,000. The Louisville A Nashville Co. on stock, payable absolutely, and $4,000 was payable contingent upon
has issued $2,689,000 bonds secured on this road, $2.677,000 of which ti e amount of cross earnings, and 8 per cent was paid as rental, but in
are pledged for the collateral trust bonds of that company. Gross earn 1887 repoited in o eased to 10 per cent per annum andlease transferred
ings in 1885-6, $1,032,936; net, $246,011; int. and taxes, $212,643; to Boston A Maine RR. Co. The funded debt of $300,OoO, principal and
surplus, $33,367.
interest, is assumed by the lessee, and the lessor holds the lessee’s notes
M o b ile A O h io.—(See Map.)—Owns from Mobile, Ala., to Columbus for the same amount—$300,000.. (V. 45, p. 143.)
Ky., 472 miles, and extension (by Ken. A Tenn. RR.) to Cairo, 21 m ;
N ash ville C h attan ooga A St. L o u is .—(<8ee Map o f Louisville A
/eases St. L. A C. RR., Cairo to St. Louis, 152 miles, and track to Mill- Nashv.)—Owns from Chattanooga Tenn., to Hickman, Ky., 321 miles;
etadt, 9 miles; branches—Artesia, Miss., to Columbus, Miss., 14 miles; branches—Wartrace, Tenn., to Shelbyville, Tenn., 8 m.; Bridgeport, Ala.,
September, 1887.]
RAILROAD
STOCKS AND
BONDS,
73
^ 4
INVESTORS’
SUPPLEMENT.
[V ol. XLV.
Subscribers w i l l confer a great favor by g iv in g im m ed iate n otice o f any error discovered in tbese T a b les.
Bonus—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When dne.
Amount Rate per When Where Payable, and by Stocks-L a st
Outstanding
For explanation of column headings, &c., see notes
Dividend.
Whom.
Cent.
Payable
on first page of tables.
Nashville Chattanooga dt St. Louis—Stock...............
1st mort. (for $6,800,000), c o u p ...........................
2 d mort......................................................................
Bonds held by U. 8. Government...........................
2T. C.& St. L., 1st M. on Fayette. & McM. brancnes
do
1st mort. on Lebanon Branch..........
do
for Jasper Branch............................
do
for Centreville Branch.....................
do
for Tenn. Coal & Iron R R ................
D uck River RR., 2d mort., endorsed.......-------ffashviUe A Decatur—Stock, guar’d 6 p. c. by L. & N.
1st mort. guar. s. f ............................ ........................
Watches Jackson A Columbus.—1st mortgage............
Naugatuck—Stock.........................................................
Bonds................................................. - ............ »;.......
Nesquehoning Talley—Stock.. . . . . . . . - - - . - Nevada Central- 1st mort., gold (sink, f., $20,000)
Newark A Hudson—1st mortgage...............................
Newark Somerset A Straitsv., O.—1st m ortgage.—
NewburgDutchess A Connecticut—Income bon d s...
Newburg A New York—1st mortgage------. . . . . . . . . . .
New Castle A Beaver Valley—Stock............................
New Haven A Derby—1st & 2d mortgages................
New Haven A Northampton—Stock.............................
Mortgage bonds, coupon.............................. - .........
Holyoke & W.,leased, 1st M.($200,000 g u a r.)......
Oonsol. sink, fund $15,000 per yr. &mort. bonds.
Northern Extension..................................................
Bonds convertible into stock.................................
New Jersey Junction—1st mortg. coup, or reg. guar.
New Jersey A New York—1st mort. (reorganization j
600
340
321
lo i
30
13
47
20
48
122
119
99
66
61
18
94
5
44
*12
15
13
170
92
17
"27
36
1873
1881
$25
1,000
1,000
1877
1877
1877
1882
1886
1881
1,000
1,000
1,000
1,000
1,000
1,000
1870
1,000
Too
1883 LOOO&c
50
1,000
1879
1,000
1871
1869 500 &c.
1877
1,000
1868
50
68&70 500 &c.
100
1,000
1869
1,000
1870
1,000
1879
1,000
1881
1,000
1886
1,000
1886
1880 500&C
$6,668,531
6.300.000
1 , 000,000
500.000
480.000
300.000
173.000
376.000
500.000
71,000
1,642,557
1.900.000
174,400
2,000,000
150.000
1.400.000
750.000
250.000
800.000
1,164,500
250.000
700.000
525.000
2.460.000
1.300.000
260.000
1.200.000
700.000
700.000
3,000,000
400.000
1
7
6
4
6
6
6&8
6
6
6
3
7
10
5
4
2*3
6 g.
7
7 g.
7
3
7
6&7
6
5
5
4
6
Q .-J . New York & Nashville. Oct. 10, 1887
J. & J. N.Y., Continental N.Bfc. July 1, 1913
July 1, 1901
do
do
J. & J.
June 1, 1891
do
do
J. & D.
Jan. 1, 1917
do
do
J. & J.
Jan. 1, 1117
do
do
J. & J.
1907 & 1923
do
do
J. & J.
Jan. 1, 1923
do
do
J. & J.
1909
do
do
J, & J.
Nov. 1, 1909
do
do
M. & N.
June 6, 1887
Nashville.
J. & D.
July 1, 1900
J. & J. N. Y., 50 Exoh. Place
1885
N.Y., Bank of America.
July 3, 1887
Bridgeport, Conn.
J. & "j.
J. & D Bridgeport, Treasurer. ' June 1, 1913
M. & S. Philadelphia, Co.’s office Sept. 1, 1887
A. & O. Last paid April, 1884 Oct. 1, 1904
N. Y .L . E.&W. RR.
Sept., 1901
M. & S.
M. & N. N. Y., Union Trust Co. Nov. 1. 1889
1977
J. & "j. N.Y. .Office N.Y.L.E.&W Jan. 1, 1889
July 2, 1887
Newcastle, Penn.
Q.-J.
Various N. Haven, Mech. Bank. 1888 & 1900
Oct., 1873
New Haven,
Jan., 1899
do
do
J. '& ’ j
A. & O N.Hav.,N.Tradesm’s Bk Apr.l ’91 & ’98
April, 1, 1909
do
do
A. & O
April, 1911
do
do
A. & O
July 1, 1896
do
do
J. & J
Feb. 1, 1989
New York Agency.
F. & A,
M. & N N.Y., Mercantile Tr. Co. May 1, 1910
ated, 66 miles, 5 miles of N. Y. N. H. & H. being used between Nauga
tuck Junction and Bridgeport. In May, 1887, a 99 years lease was
proposed to N. Y. N. H. & H. at $200,000 per year. Earnings for three
years past were as follows: 1883-84, gross. $676,714; net, $225,615;
1884-85, gross, $651,242; net. $213,262; 1885-86, gross, $704,336;
net, $221,522. (Y. 43, p. 718.)
N e s q u e h o n in g V a lle y .—Owns from Nesquehoning Junction, Pa.,
to Tamenend, Pa., 17 miles; Tunnel Branch, Hauto, Pa., to Lansford,
Pa-., 1 mile; total operated, 18 miles. Opened in 1870, and was leased
for 999 years to the Lehigh Coal & Navigation Co. at a lease rental of
$130,000 per annum. In Se pt., 1884, the lease was modified so as to
pay 5 per cent a year only, and the stock has been extended for 20
years, with a guarantee of 5 per cent per annum.
Nevada Central.—[See Map Union Pacific.)—Battle Mountain to
Austin, 93 miles. Stock, $1,000,000. There are $250,000 8 per cent
income bonds due 1905, which are held by the Union Pacific, as also
$959,500 of the stock. Default was made Oct. 1,1884, on the bonded
interest, receiver appointed Feb., 1885, and road sold June 21. Re
EARNINGS AND EXPENSES.
1886-87. organization pending. N. Y. Committee, Messrs. D. B. Hatch, ef al.
1885-86.
1883-84.
1884 85.
Gross earnings in 1885, $68,062; net, $$2,879; deficit under interest,
$
$
$
$
Earnings—
725,961 &o., $42,120. Gross in 1886, $57,759; deficit, $2,624; deficit underinter
604,820
649,737
663,618
est, $47,624. (Y. 44, p. 781.)
1,894.715
1,429,468
1,559,765 1,435,878
N e w a r k & H u d so n .—Owns from Bergen Junction to Newark,
153,572
153,821
155,104
148,703
■Mall, express, rents, &c..
N. J., 6 miles. Leased to New York Lake Erie & Western at a rental
2,372,086 2,240,719 2,188,109 2,774,243 of $33,000 per annum, which pays interest on bonds and 7 per cent
Total gross earnings—
on the stock of $250,000. Earnings in 1886, $65,518 gross and $17,818
T o ta l operating expenses. 1,303,446 1,304,002 1,322,858 1,578,611 net. Cortlandt Parker, President, Newark, N. J.
N ew ark Somerset & Straltsv llle.—Owns from Newark, O., to
1,195,637
865,251
936,717
1,068,640
Shawnee, O., 44 miles. Road was completedin 1871. Leased to Sandusky
INCOME ACCOUNT.
Mansf.
Newark for 14 years from Jan. 1,1872. Operated by the Balt.
1886-87. & Ohio,&
1885-86.
1883-84. 1884-85.
which pays 30 per cent of gross earnings, and advances any
$
$
$
Net Receipts—
$
additional
amount necessary to meet the interest on the debt. Capital
865,251 1,195,637 stock, common, $795,400, and preferred, $218.200. Gross earnings in
936,717
Net earnings..................... 1,068,640
13,445 1882-83, $164,781; net, $19,511; loss to lessee, $29,922. In 1883-84,
11,947
29,072
Miscellaneous receipts...
gross $168,532; net, $757; loss to lessee, $49,802. In 1884-85, gross,
865,251 1,209,082 $118,430; deficit, $29,102; loss to lessee, $64,631. In 1885-86, gross,
948,664
1,097,712
$
$
$ , $214,291; net. $35,208.
Disbursements—
$
_
_
709,834
675,096
682,273
662,320
«enterest on debt & taxes.
ew bu rg D utches» de C on n ecticu t.—Owns from Dutchess Junc266,741 N.NY.,
266,802
Dividends..........................
to
Millerton,
N.
Y.,
59
miles.
The
Dutchess
&
Col.
RR.
was
sold
119,480 Aug. 5.1876, and this company was organized Jan. 8,1877, by the pur
45,221
58,401
106,077
chasing bondholders. In addition to above incomes, there are $150,000
740,674
720,317 1,096,055 1st mort. 7s, due in 1907. In 1884-85, gross earnings $131,923;
Total disbursements. 1,035,199
144,934
113,027 net. $13,864; deficit under interest, &c., $2,511. In 1885-86, gross,
207,990
62,513
B alance, surplus..............
$143A 18; net, $28,276. The common stock is $172,000 and preferred
GENERAL BALANCE AT END OP EACH FISCAL TE AR
stock $715,350. John 8. Schultze. President, Matteawan, N. Y.
1886-87.
1883-84.
1884-85.
1885-86.
N ew burg & N ew Y o r k .—Owns from Vail’s Gate Junction to
$
A s s e ts —
Greenwood Junction, N. Y., 13 miles. Leased October 5,1866, to Erie
fRoad and equipment.......16,316,655 16,950,242 17,094,876 17,512,645 RR., at $17,500 per annum (being interest on the bonds),and operated
69,421 now by New York Lake Erie & Western. Has no stock.
' 562,727
*81,322
75,758
Assets not available. . . . . .
479,663
462,940
481,314 478,714
xïnv’tm’ts in st’ks & bonds
N ew Castle & B eaver V a lle y .—Owns from Homewood, Pa., to
8,722
18,132
19,067
37,647 New Castle, Pa., 15 miles. Road in operation since 1860. Leasee! to
Bills receivable.................
80,364
62,461
67,961
54,129 Pittsb. Ft. W. & Chic. RR. for 99 years at a rental of 40 per cent on gross
Real estate.........................
294,804 earnings. Lease transferred to Pennsylvania Company. There is no debt.
188,919
250,436
277,372
Due from agents, &e.......
375,211 In 1879,13 per cent dividends were pa id; in 1880,13 p. 0.; in 1881, 24
300,217
264,408
311,088
•Cash...................................
D. c.; in 1882,14 p. c.; in 1883, 29 p. c; in 1884,19 p. c.; in 1885,10 p. c.;
17,920,544 18 108,314 18,324,836 18,823,520 in 1886, 6 p. c. Gross earnings in 1885, $171,682; rental received, $68,Total.......... .......... .
$
Liabilities —
$
672 • gross in 1886, $207,214; rental received, $82,855.
»Capital stock..................... 6,670,331 6 ,668,363 6,668, 362 € 668,531
N ew H av en & D erby.—Owns from New Haven, Conn., to Ansonia,
Bonded d e b t..................... 8,903,000 8 ,998,000 9,200. 000 9 207,000 Conn., 13 miles. Capital stock is $446,600, of whioh New Haven city
288 047
467,268
604,402 owns $600,000. New Haven City guarantees the $225,000 second
591,499
Hills payable.....................
31 ,092
42,947
61,299 mortgage bonds, and has a claim o f about $300,000 for money ad
97,348
Bal’ce due individTs, <fee.
296 ,905
290,905
297,650 vanced Negotiations have been pending between the company and the
287,970
J n t’st coupons due July 1
17;
18,323
,048
83,483 city for an adjustment. Gross earnings
21,942
Dividends..........................
1884-5, $150,737 ; net,
85:,152
72,721
75,490
97,124 $63,792. In 1885-86, gross, $162,678 ; net, $68,903. (V. 45, p. 34.)
JPay-rolls, &o.....................
153
153,600
,600
153,600
Int’st on b’ds held by U. 8.
N e w H a v e n & N o r t h a m p t o n .—Operated from New Haven,
13 ,616
15,119
3,686
884 Conn to North Adams, Mass., 123 miles; branches—Northampton to
Miscellaneous...................
Profit and loss.................. 1,115,678 1 ,381,068 1,571 014 1,803,147 Williamsburg, 8 miles; a arnnngton Conn., to New Hartford,Conn., 14
miles • South Deerfield to Turner’s Falls, 10 miles; to Tariffville, Conn.,
Total............................ 17,920,54418,108,31418,324,836 18,323,520 1 mile; leased—Holyoke & Westfield RR., 14 miles; total, 170 miles.
In Anril 1881, a controlling interest in the stock was sold to New York
* $502,749 was charged off to “ Road and Equipment” during th6year. New Haven & Hartford parties, and in June, 1887, the road was leased
—(V. 44, p. 118, 244, 370, 527, 653, 781; V. 45, p. 113, 2 3 9 , 240, 369.) for 99 vears to the N. Y. N. H. & H. at 1 per cent on stock in 1887-88,
to 4 Der cent by 1889, and thereafter remaining at 4 per cent. In
■ N a s h v ille & D e c a t u r .—(See Map Louisville A Nashville.)—Owns rising
1884^85 gross income was $804,099; net, $275,704; surplus over
from Nashvilie, Tenn., to Decatur, Ala., 122 miles. The road was charges,
$9,230. In 1885-6, gross income, $842,509; net, $292,218;
¿leased May 4, 1871, to the Louisv. & Nashv. RR. for 30 years from
$10,384. (V. 43, p. 132; V. 45, p. 13.)
-July 1,1872, at a rental of 6 per cent per annum on the stock. The surplus
N e w ’ Jersey J u « c t l o n . —Terminal road through Jersey City, Ho •
casco assumed all the debt of the Nashville & Decatur Co. In 1885-86,
Weehawken, connecting the trunk lines terminating at those
erross earnings, $9-9,468; net. $399,670; int., taxes and dividends, hnfera and
Leased for 100 years from June 30,1886, to the N. Y. Central
:#285,584; surplus, $114,086. In 1834-85 gross, $1,061,956; net, $466,- points.
& H R RR Co., which oompany guarantees the bonds absolutely and
168.
owns the stock ($100,000) of the company. The mortgage Is for
N atch ez J a ck so n & C o lu m b u s.—Owns completed road from $4,000,000. (V. 44, p. 781.)
_
..
„ T
Natchez, Miss., to Jackson, Miss., 100 miles. Stock, $2,260,809. New
N ew Jersey & N e w Y o r k .—Owns from Erie Junction, N. J., to
7 per cent bonds for $600,000 authorized but very few issued; also a Stonv Point. N. Y., 31 miles; Nanuet to New City, 5 miles. Leased—
s e w mortgage at 6 per cent, $12,500 per mile, has been executed to Garnerville RR., 1 mile; total operated, 37 miles. The present comr e t i r e all prior liras and provide for future requirements, but none yet panv was formed on reorganization after foreclosure in April 1880.
issued. The $174,000 are held for the company by a New York house. Stock outstanding, $1,440,800 common; $787,800 preferred. Control
Floating debt Oeo. 31, 1886, $304,000. Earnings for 1886, gross, of road is with preferred stock and first mortgage bonds till 6 per cent
#184,325; net, $45,634. Earnings for 1885, $194,358; net, $60,923.
dividends have been paid on preferred stock for three years. Gross
N a u g a tu ck .—Owns from Naugatuck Junction to Winsted, Conn., earnings in 1886, $185,406; expenses, $139,753; net earnings, $45,653.
—* miles; leased, Watertown & Waterbury RR., 4H» miles: total oper Y, L, Lary, President. (V. 43, p. 215, 597,753; Y. 44, p. 621.)
t o Inman Tenn., 25 m.; proprietary lines—Nashv. to Lebanon, 30m .;
McMinnville Branch, 61 m.; Decherdto Fayetteville, 40m .; Centreville
.Branch, 47 m.: Tracy City Branch, 20 in.; Duck River RR. (leased), 48
m .; total, 600 miles.
.
, .... .
A majority of the stock ($3,385,000) is owned by the Louisville &
Nashville RR. Company and pledged among the collaterals for the
■trust loan of that company.
_ . . T
x,x>
In October, 1886, this company purchased the Tenn. Coal & Iron Kit.,
_____
.agreeing to nav for it $500,000 in 5-30-year bonds.
.
^ T h e company had net income in the year 1885-86 of $144,934 over
a ll expenses, but paid no dividend; in Oct., 1886, resumed dividends
’b v payment of 1 per cent.
From July 1 to Aug. 31 in 1887 (2 mos.), gross earnings were $51,■359 against $439,743 in 1886; net, $253,729, against $192,383; sur
plus over interest, taxes and improvements, $91,671, against $61,627.
The fiscal year ends June 30. In 1886-87 earnings, &o., were as
.follows :—
„ „
S e p t e m b e r , 1887.
KA ILEO AD STOCKS AND BONDS.
? »
Subscribers w ill confer a great favor by givin g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
INTEREST
Bonds—P rise
Miles Date Size, oí
pal,When D u e.
Amount Rate per
For explanation o f column Readings, &c., see notes of
of
Par
When Where Payable, and by Stocks—Last
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
N. J. Southern—1st mort. (int. guar, by N.Y.& L.B.j
Long Branch & Sea Shore, 1st mort., guar............
A eu London Northern—Stock....................................
2d mortgage...............................................................
Consol, mortgage ($300,000 are 4s)........................
Newport News <&Mississippi Valley—Stock...............
New Orleans <&Gulf—1st m ort, gold........................
New Orleans <6 Northeastern—Prior lien mort., gold.
New York Brooklyn & Man. Beach—Stock, common.
Stock, preferred.................................................. ......
N. Y. & Man. Beach RR.. 1st mortgage.......... . ...
N.Y. B.&M.B., 1st consol, mort., gold ............. ....
N. Y. <t Canada—I bi M., sterling, guar. D.& H. Can.
New York Central <&Hudson Rivet— Stock...............
Premium bonds (N. Y. Central) ext. 10 y ’rs, ’83..
Renewal bonds................................................... ......
N. Y. C. & H.,e $30,000,000 \
C
m o r tg a g e ...) «2,000,000 5 coupon or re* ‘ (
Debenture bonds (for $10,000,000),coup, or reg..
N. Y. Chicago & St. L .—Stock ($22,000,000 is pref.)
1st mortgage, gold, coup, or reg..............................
2d mortgage (for $10.000,000)................................
N. Y.Oity <&Northern—Consolidated mort................
N. Y. Danbury <6 Boston—1st m ortgage.................
New York & Greenwood Lake.—1st mort., income ..
2d mort., income...................................................
flew York <6 Harlem—Common stock.........................
Preferred stock..........................................................
Consol, mort., coup, or reg............ .........................
N. Y. Lackawanna & Western.—Stock, guar., 5 p.ct.
1st mortgage, coupon, may be registered.............
2d mort., guar, by Del. Lack. & west.....................
78
....
121
100
121
68
20
20
14
A11.
150
1,443
....
840
840
__
523
513
513
62
50
40
___
156
156
132
214
200
200
1879
( 1869
1872
1880
1886
1885
$600
1,000
100
500 &c.
1,000
100
1,000
1,000
1877 500 <fec.
1,000.
1885
1874 «100<teo
100
1853 500 &c.
1854
1,000
1873
1,000
1873
1,000
1884 1,00 O&c
100
1881
1,000
1883
1,000
1880 500 &c.
1886
1,000
1875 100 &c.
100 &c.
50
50
1872
1,000
100
1880
1,000
1883
1,000
$1,449,600
200.000
1,500,000
387,500
1,112,000
11,660,000
900,000
2,372,000
350,000
650,000
500,000
798,000
4,000,000
89,428,300
6,450,000
2,391,000
30,000,000
9,733,333
7,850,000
50,000,000
15,000,000
1,046,000
3,697,000
(?)
900,000
1,800,000
8,618,500
1,381,500
12,000,000
10,000,000
12,000,000
5,000.000
6
7
1^2
7
4&5
J. & J N. Y., 110 Liberty St, July 15, 1899
J. & D.
New York.
Dec. 1, 1899
Q .-J .
New London, Office.
July 1, 1887
J. & D. N. Y., B’k of N. America
July, 1892
J. & J.
do
do
July, 19106 g. M. V N.
Nov. 1, 192©
6 g. A. & O.
Co. Nov. 1, 19152*2
1885*5 6
7
J. & J. N. Y., Corbin Bank’g Co Jan. 1, 1807
5 g. A. & O.
do
do
Oct. 1, 1935
6 g. M. & N. London, Baring Bros.
May 1, 1904
i
Q .-J . N.Y., Gr. Central Depot, July 15, 1887
5
M. & N.
do
do
May 1, 1893
6
J. & D.
do
do
Deo. 15, 1887
7
J. & J.
do
do
Jan. 1, 1903
6 g. J. & J. New York and London. Jan. 1, 1903
5
VI. & S. N.Y., Gr. Centr’l Depot. Sept. 1, 1904
6 g.
6
6
6
7
7
4
3
7
1*4
6
5
J. & D.
Last paid Dec.,’ 84
M. & S.
Last paid Mch. ’85
M. & N.
Last paid Nov. ’81
A. & O.
New York Agency.
F. & A. New York, Co.’s Office.
M. & S.
do
do
J. & J. N.Y., Gr. Central Depot,
J. & J.
do
do
M. & N.
do
do
Q.—J.
N. Y. by D. L. & W.
J. & J.
do
do
F. & A.
do
do
Deo. 1, 1921
Mar. 1, 1923
May 1, 1910
1926.
July 1, 19ST
July 1, 1 8 8 7
May, 1900
Oct. 1, 1887
Jan. 1, 1921
Aug. 1. 1«: 3
N ew Jersey Sou th ern .—The road extends from Port Monmouth’ by Mr. W H. Vanderbilt at the price of 120, and 100.000 shares sold
Sandy Hook, to A too, 70 miles, with branch from Eatontown to Pt. Mon ^ erw a rd s. Dividends of 8 per cent per annum haa been paid since
mouth, 9 miles. The property was sold in foreclosure March 31,1879 (see 1868, but m 1885 only 3*2 per cent was paid, and in 1886, 4. Prices o f
Ch r o n ic le , Y. 28, p. 352), and the present company was organized July stock since 1870 have been : In 1871, 8414® 1035s ; in 1872. 89® 101
25,1879. The capital stock is $1,590,600. The property is subject to in 1873, 7778®106ifl ; in 1874, 9578®10558; in 1875, 100® 1073s ■ m
$120,000 on the Tom’s River RR. and $200,000 on the Long Branch & 1x76. 96® 117^2 ; in 1877, 8 5 4 ® 109!4; 1878, 103%® 115; in 1879 112
in 188D 1 O.O.-m ?i^3o • in 1QQ1
o m .a iK e .
„ n . -»..L i®
Sea Shore Railroad. The bonds have interest guaranteed by the
New York & Long Branch Railroad by endorsement of the bonds, and
the Central of New Jersey agreed to assume those bonds. The road
is operated as a part of the Central New Jersey system. Gross earn
The debenture bonds of 1884 must be included in any new mortsav*
ings in 1885 $438,574; net deficit, $80,340. Gross in 1886, $481,908: issued prior to 1902.
* b
deficit, $16,321.
Oper ation s , F inances , &c.—The New York Central & H udson
N ew L o n d on N orth ern .—Owns from New London, Conn., to River RR has an exceptionally rich local traffic, but the profits also
Brattleboro, Vt., 121 miles, of which 100 miles leased to J. G. Smith and depend very much upon harmony among the trunk lines.
others. This road has been operated since Dec. 1,1871, under lease to
In Dec., 1885, a lease of the West Shore Railway was taken fop
the Central Vermont Railroad; the lease was for 20 years at $150,000 475 years and the bonds of $50.000,000 at 4 per cent guaranteed, bv N
per year, and $15,000 for each additional $100,000 of earnings over Y. C. & Hud., and $10,000,000 West Shore stock taken as consideration*^
$510,000 per year. In 1885-86, gross earnings, $629,700; net, $278,For the quarter and nine months ending June 30, returns we ea$ fol
140. Rm tal and interest received, $237,244; paid interest, &c., $108,- lows:
907; dividend (6 per cent), $90,000; surplus, $38,337.
quarter ended June 30.
9 Months ended June
1387.
1896.
1886-7.
N ew O r le a n s * G u lf.—The line of the road is from New Or'eans
is s a
south along the Mississippi River to B >hemi i, with a branch, making Gross earnings___$9,636,374
$7,570,411 $25,746,981 g li ,789,214,
68** miles in all completed in 1887. The Donus were offered in London, Operating expenses 6,357,910
4,8H,131 16,3 5 ,5 i5 13,73 2,701
Nov., 1886, by Messrs. Satterthwait & Co. (Y. 43, p. 634.)
Net earnings... $3,278,464 $2,729,280 $ ,431,126 $3,0 6,513
N ew Orleans & N ortheastern. - Line of road from New Orleans,
1,926,000
6,871,600
5,319,0 O
La., to Meridian, Miss., 196 miles. Siock is $5,000,000. This road be First charges.......... 1,957,200
longs to the so called “ Erlanger System,” and of the stock $4,320,( 00 Profit.........................$1,321,264
$803,2C0
$3,549,926
$2.737,513
and $4,900,00u of the $5,000,000 first mortgage bonds are held by the Div. p d .,(l p. c. qr.)
894,283
891,193
2,.82,849
2,682.343
Ala. N. O. & Texas Pacific Junction Co. Gross earnings in 1886, $661,236; net, $105,* 11; deficit under interest, &c., $246,785. (See title of
$366,977
$'>4,66*
Surplus.............. $426,981 def.$91,.,03
that company in the Su pplem ent .)
Annual lep ort for 1885-6 in Chronicle , V. 41, p. 53.
N ew port N ew s & M iss. V a lle y .—(See Map)—This is the com
Year
Net
Income,
Divipany formed under the laws of Connecticut to lease and operate all the
Gross
over exp., dends,
Huntington lines between Newport News, Va , and Memphis, Tenn. On ending Passenger Freight (ton)
Mileage.
Receipts. int.&rents, p. c. Surplus
Jan. 1., 1887, the company owned $5,579,6oO Ches. Ohio & Southwest Sep. 30. Mileage.
ern preferred, and $3,442,000 common stock. $l,055,5oO Elizabethtown 1883.429,385,561 2,200,896,780 $33,770,722 $7,327,156 8 $179 o *>4
Lexington & Big Sandy RR. stock, and $1,723,000 Chesapeake & Ohio 1884.387,829,886 1,970,087,115 28.148,667 4,668,759 8 *2,490 8 8 5
bonds of 1918. Company leases the three roads mentioned, aggreating 1885.438,397,774 2,137.824.205 24,429,441 2,176,342 3 ^ *9 53 651
1,040 miles, the former for 50 years and the latter two for 250 years, 1886.476,128,729 2,414,266,463 30,506,362 4.650,100 4 1.072 9 6 »
* Deficit. In 188i-5 total deficit was $2,295,072.
agreeing to pay the expenses, interest and fixed charges so far as net
earnings suffice, in the order of their priority, any surplus up to 6 per -(V.^43, p. 5, 23, 399, 7 4 5 ; V. 44, p. 22, 58, 212, 370; V. 45, p. 5, 26»
cent to be divided to lessor companies, and the excess retained by the
N ew Y o r k Chicago & St. L o u is.—Buffalo, N. Y., to Grand Cross
lessee. See annual report, with balance sheet, &c., in V. 44, p. 780.
Registrar of stock, Metropolitan Trust Co., New York. Offices of Co. ing, 111., 513 miles; leased in Buffalo l*s miles; Grand Crossing to Chi
No. 23 Broad st. and New Haven, Conn. -(V . 43, p. 547; V. 44. p 90 cago 9 miles; total, 523 miles. This Company was formed in 1881 and
became known as the “ Nickel Plate.”
344, 466, 7 8 0 ; V. 45, p. 211.)
*A ' ’
In January, 1887, the Common Pleas Court at Cleveland, O., gaveN ew Y o rk B r o o k ly n & M a n k a tta n B ea c h .—From Fresh judgment against the validity of the first mortgage, owing to thePond Junction to Manhattan Beach, and branches to Bay Ridge and methods in which the bonds were negotiated by the directors, and!
Greenpoint, 20 mile«. This was a consolidation Aug. 27,1885, of the N. ruled in favor of the second mortgage. The proposed settlement w as
Y. P a?
4s Jamaica RR., the N. Y. & Manhattan B. Railway Co. given in V. 44, p. 211, viz.: That a new $20,000,00 >mort rage be issued,
and the L. I. City & Man. B. RR. Co. The railroads are leased for 99 bearing 4 per cent, running till 1937, and these bonds be given to the ol<h
years from 1882 to the Long Island RR- Co. at 35 per cent of gross mortgage bondholders at 112 for firsts and llftia for seconds; the old*
earnings, but the rem al guaranteed to be at least $95,980 in each year. stocks are assessed 10 per cent, and then receive new prefeired ancF
'°dk $650,000 is preferred for 5 per cent, but not cumulative. common stock respectively for 50 per cent of the face or ineir old ste ck;
—(V. 43, p. 12o.)
new first preferred stock for $5,000,000 is issued foi the cash assess
_ N ew Y o r k & C anada.—Owns from Whitehall, N. Y., to Rouse’s ments paid. Sale in foreclosure took place May 19, 188', and reorgani
Point, N. Y., 113 miles; branches: Ticonderoga, N. Y., to Baldwin, zation is in progress to be perfected in Sept, or Oct., 1.387, after which,
N. Y., 4 miles; Plattsburg, N. Y.. to Ausable, N. Y., 20 miles; West the new stock and bonds will be issued.
From Oct. 1,1886, to June 30, 1887 (9 months), gross earnings w ere
Chazy to Province line, 13 miles; total operated, 150 miles. The whole
line was completed Sept. 18,1876. The road is leased and virtually $3 409,336, against $2,689,971 in 1885-86: net. $ ,083,865, against;
owned by the Delaware & Hudson Canal Company, which guarantees the $909,155; balance over rents and taxes, $840,583, against $595,831»
For the year ending Sept. 30 the reports to the New York State Com
bonds. The stock is $4,000,000. Earnings 1885-86, gross $772,664nrt, $268,811; surplus, $32,305. In 1884-85, gross, $613,572; net, missioners showed:
1885-86.
1884-85.
$203,781; loss to lessees, $62,847. (V. 45, p. 180.)
Gross earnings..........................................$3,595,169
$3,111,72»
2,417,817
2,307,820
N ew Y o r k Central & H u d s o n .—L in e o f R oad .—Owns from Operating expenses....................
New York City to Buffalo, N. Y., 442 miles; branches on New York
Net earnings......................................$1,177,352
Central division, 307 miles; total owned, 749 miles; lines leased—
West Shore RR., 426 miles, and branches, 22 miles; Troy & Greenbush. Rentals, taxes, &c. (no int. on mortg.). 4 15,o66
Surplus.............................................. $762,286
®
Niagara Bridge & Canandaigua, 98 miles; Spuyten Duyvil &
Port Morris, 6 miles; New York & Harlem, 127 miles; Lake Mahopac, 7 —(V. 43, p. 163, 334, 459, 608, 774; V. 44, p. 60,118. 211, 212, 244».
miles; total, 684 miles; grand total, 1,443 miles. The second track 276, 278, 308, 335, 344, 466, 495, 527, 621, 653, 811; V. 43, p. 53, 203*.
owned and leased is 873 miles; third track, 318 miles; fourth track, 240, 272, 292.)
299 miles; turnouts, 758 miles—making a total of 2,406 miles of track
N e w Y o r k C ity & N o r t h e r n .—Owns from 157th Street in 8 th
owned by the company, and 1,282 miles leased, 3,688 miles in all. Avenue, New York City (connecting with Metropolitan Elevated), tow& L bS11,
Va1, &
KR->104 miles, but reported sep- Brewsters, N. Y., and branch, 54 miles. The company in May, 1880»
ar^ i?iy 7-,.Tlie We8t„81mre R’way was leased in Dec., 1885, for 475 years. leased the West Side & Yonkers road for 999 years and the consoli
~T1U8 company was formed by a consolidation dated mortgage was issued to take up all the other bonds, of which $264,—
^®nrtai and the Hudson River railroads Gctobei 000 under a prior mortgage remained out, when feu eel sure took p a •»
1,1869. The New York Central was a consolidation of sevei al roads August 17, 1887. The n> w company will issue $1.200,060 1st mortg 5»
under a special law of April 2,1853. The Albany & Schenectady Rail per cent bonds, $3,200.000 2d mortg. 4 per cent income boi d«, $6,000,—
road, opened September 12,1831, as the Mohawk & Hudson, was the 000 of 5 per cent pref. stock, and $3,000,000 coup. st8ck. ihe follow
first railroad built m the State of New York. The Hudson River Rail ing directors have been selected for the new organization: A. Bay lie, 2>„
road was chartered May 1 2 ,1846, and road opened October, 1851.
E. H. Benner, H. F. Dimook, J. B. Erhardt, G. J. Foti st, W. H. Hol
Stock and B onds .—The famous scrip dividend of 80 per cent on the lister, A. Lichenstein, J. J. McCook, A. Marcus, W. Merteus, R. Randall»
capital stock of the New York Central was made in December, 1868 G. W. Smith and G. L. Stone,
011 the consolidation with the Hudson River road (Nov. 1,1 8 6 9 ) a
From Jan 1 to June 30 in 1837 (6 months) gross earnings wer&
further dividend of 27 per cent was distributed on the N<W York $265,015,
against $¿49.371 iu 1886; net, $35,722, against $48,531r
Central stock and 85 per cent on the Hudson River stock In Nov
deficit under fixed charges, $94.478, against $78,3.67. (V. 43. p. 547 1879, 250,000 shares ($25,000,000) were sold to a s y n S e Of b a S ' s V. 44, p. 90, 211, 235, 370, 499, 586, 752; V. 45, p. 135, 240, 272.)
76
INVESTORS’
SUPPLEMENT.
[V ol . x l v .
S e p t e m b e r , 1887.]
RAILROAD
STOCKS
AND
BONDS.
77
Subscribers w ill eonfer a great favor by giving Im m ediate notice o f an y error discovered In these T ables.
[Bond«—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date 1Size, or
Amount Rate per When Where Payable, and by pal, When Due.
Par Outstanding
of
For explanation of column headings, Ac., see notes of
Stocks—Last
Cent. Payable
Whom.
Road. Bends. Value.
Dividenti.
on first page of tables.
if. F.Lake Erie A West—Stock, common.................. 1,678
Preferred stock.......................................................... 1,678
1st mortgage (extended in 1867 to 1897).............
2d mortgage, gold (extended in 1879).................. 3d mort., gold (extended 40 years at 4*a p. ct)—
4th mort., gold, (extended in 1880 at 5 per cent).
5th mortgage, convertible............. ................. . —
Buffalo Branch Bonds...............................................
Long D ock Co,, old mortgage.......................... .......
do
mort., coup.,gold (for $7,500,000)
1st consolidated mortgage, gold..............................
do
do
funded coupon bonds.
N. Y. L. E. & W. reorganization 1st lien b’ds, gold
do
2d consol, mort., gold...................
do
income bonds (non-cum.). . . . —
do
fund.coup.bds (redeem, at 105 A int.)
Collateral Tr. bonds, gold, red’ble at 110..............
Car trust bonds (enly $600,000 are 6s)..................
38
New York ¿L on g Branch—Stock...............................
Mortgage bonds.........................................................
471
N.Y. A N. England—Stock ($20,000,000 auth’rized)
Preferred stock, 7 per cent cumulative..................
1st mortgage ($6,000,000 are 7s)........ -.................. 321
2d mortgage ($3,341,000 are 6s)............................. 321
Notes and debts for terminal property..................
263
New York New Haven A Hartford—Stock..............
123
Mortgage bonds, reg. (for $5.000,000)..................
12
Harlem A Portchester, 1st mortgage guaranteed,
12
do
do
2d M., coup, or reg., guar..
New York Ontario A Western—Common stock.......... 417
1st M., gold, for $4,000,000 (redeemable at 110).. 321
1847
1879
1853
1857
1858
1861
1863
1885
1870
1878
1878
1878
1878
1885
1882
1882
1876
1882
1882
1883
1873
1881
1884
$100 $77,303,700
6
8,147,400
100
2,482,000
7
1,000
2,149,000
1,000
5 g4,618,000
1,000
4*2g.
2,926,000
5 g.
1,000
709,500
7
500 Ac.
182,600
7
100 Ac.
3,000,000
7
1,000
4,500,000
6 g.
l,u00
7
1,000 16.890,000
3,705,977
7 g.
500 Ac.
2,500,000
1.000
6 g500 Ac. 33,597,400
6 g.
6
508,008
300 Ac.
5
4,032,000
1.000
4,273.000
1,000
6 g
5,612,000
6A 5
2,000,000
3*2
1,500,000
5
19,313,000
),v*00,u00
3ia
6A 7
1,000 10,000,000
4,361,000 3, 5 A 6
1,000
1,646,532
4
2Jfl
100 15,500,000
4
l.OOOAc 2,000,000
2,000,000
6A7
1,000
1,000,000
4
1,000
58,113.982
2,927,000
1,000
6g.
Yearly.
M. A N.
M. A S.
M. A S.
A. A O.
J. A D .
J. A J.
J. A D.
A. A O.
M. A 8.
M. A S.
M. A N.
J. A D.
J. A D.
J. A D
M. A N.
N.Y., 19 Cortlandt St.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
New York and London.
do
do
do
do
Coupon of June,’ 86, off.
Last paid Dec. 1883.
A. A O.
J. A D. N. Y., 119 Liberty St.
Jan. 15,1884
May 1, 1897
Sept. 1, 1919
Mar. 1, 1923
Oct. 1, 1920
June 1, 1888
July 1, 1891
June, 1893
Oct. 1, 1935
Sept. 1, 1920
Sept. 1, 1920
Dec. 1, 1908
Dec. 1, 1969
June 1, 1977
Dec. 1, 1969
Nov. 1, 1922
1887-1892
O ct, 1886
1923
Boston.
J. A J. Bos., Safe Dep. A T’st Co.
F. A A.
Boston.
Various
Boston.
Q .-J . N.Y., Grand Cen. Depot.
J. A D.
do
do
do
do
A. A 0.
J. A D.
do
do
M ay'2 ,1 8 8 7
Jan., J.905
Aug. 1,1902
1886-92
July 1, 1887
June 1, 1903
1903
June 1,1911
M. A S.
Sept.T,*Ï914
New York A London.
New York
N. Y . D a n b u r y & B o s t o n .—Road projected from Bronx River,
O perations , F inances , A c .—1
The company since its reorganization
N. Y., to Dnnbur.i, Conn., 50 miles, double track. Contract to finish road in 1878 has become a standard gauge system. The income account for
tn one year let to Heman Clark. Bonds of $2,000,000 taken by a syndi several years showed a considerable surplus over fixed charges, but in
cate. This is the r< ad named as the connecting 'ine of the N. Y. & New 1883-84 the income fell off largely, and there was a deficit below the
England, meeting the Suburban Rapid Tiansit also at Bronx River. interest requirements, and three ooupons, June, 1884, to June, 1885,.
Stock is $3,000,000. The directors are as follows: F. A. White, Pres.; on the 2d consol bonds, were passed.
8ome of the holders of car trust bonds have relinquished their right
R. M. Hazard, J. L. Macaulay, D. C. Calvin, Geo. S. Scott, Wm. P. Wat
eon, Chas. H. Capen, John C. Short, Robert Blake, Theo. Talbot. (V. to annual drawings of principal, and 90 per cent of the holders agreed
to reduce their interest to 5 per cent, but other holders obtained a de
43, p. 103, 635, 6J1.)
N ew Y o r k & G reen w ood L a k e .—Owns from Jersey City, N. J., cision sustaining their original contract.
to Greenwood Lake, 48 miles ; branches — Ringwood Junction to
From October, 1886, to June 30, 1887 (9 months) g ross earnings were
Ringwood, 2 miles; North Newark to Orange, N. J., 8 miles ; total, 58 $17,714,826, against $16,223,109 in 1885-86; net, $5,51“ ,2:»6, against
miles. This was the Montclair Railroad, opened in 1874. It was sold *4,874,614; surplus over fixed charges $640,117, against a deficit o f
and reorganized as Montclair A Green wood Lake, and again sold $17,064.
October 12, 1878, and the present company organized. The New York
From October 1, 18£6, to July 31, 1887 (10 months), gross earnings
Lake Erie & Western purchased a controlling mterest in the property were $19,846,025, against $18,208,476 in lr8 5 -6; net, $5,855,369,
and now operate it. The holders of the second mortgage bonds have against, $5,209,028.
a right to pay off the first mortgage bonds of $900,000 at 105, and thus
The annual report for year ending Sept. 30, 1886, published in the
ain control of the property. The stock is $100,000. Gross earnings in Chronicle , V. 43, p. 648 and 669, had the follow ing:
885, $188,474; net, $21,514; payments, $19,149. Gross earnings in
OPERATIONS AND FISCAL RESULTS.
1886, $228,169; net, $8,239; payments, $17,895. Abram 8. Hewitt,
Operations*—
1882-83.
1883-84.
1884-85.
1883-86.
President.
Passengers
carried..
6,934,724 6,734,045
7,209,054 7,727,051
N ew Y o r k & H a r le m .—Owns from New York City to Chatham,
N. Y., 127 miles. From Chatham to Albany, 24 miles; the Bost. A Alb., Passenger mileage .. 247,147,117 235,105,058 250,635,115 256,137,487
RR. is used. This cim o any owns the Fourth Avenue street railroad Freight (tons) moved 13,610.623 16,219,598 14,959,970 18,668,239
The property (except the horse railroad) was leased April 1,1873, ior Freight (tons) mil’ge 2306946892 2498888976 2381778927 2882311126
401 years, to the N. Y. Central & Hudson River RR. at 8 per cent divi* Figures of traffic do not include coal and supplies.
idends on the stock and the mterest on the bonds. The Fourth ave. horse
harmngs—
$
$
$
$
railroad was retained, and extra dividends are paid out of its receipts
4,632,229 4,675,872
3,986,793
4,393,812
Passenger.................
annually in April. All operations of the main road are included witb
Freight...................... 17,213,621 15,773,004 13,813,249 16.894,908
those of the N. Y. Central A Hudson.
956,396
1,188,559
1,134,530
1.211,326
N ew Y o r k L a ck a w a n n a & W e ste r n .—(See Map o f Del. Lack. Mail,expr’s,rents, Ac.
A West.)—From Binghamton to Buffalo and International Bridge and
Total gross eam ’gs. 22,802,246 21,637,435 18,934.572 22.500,046
branches, 214 miles; ouilt under the auspices of D el Lack. & Western. Operating expenses. 15,444,583 16,358,077 14,347,516 16,388.633
Opened Oct., 1882, and leased to Del. Lack. A West, for 99 years, with
a guaranty of the bonds and 5 per cent yearlv on the stock. The latter Net earnings............
7,357,663 5,279,358 4,587,056
6,111,408
uaranty is written across the face of the certjf,'»ates and signed by the D. P. o, op. exp.to earn’s
64*78
69*52
69*79
66*97
i. & W. officials. Sept. 30,1886, owed D. L. & W. for advances $782,770.
The statement of profit and loss inc'udes numerous items, and refer
N ew Y o r k L a k e B rie & W e ste rn . —L ink o f R o a d .—Jersey City, ence should be made to the table in V. 43, p. 669, of which the totals are
N. J., to Dunkirk, N. Y., 4B0 miles : branches—Piermont, 18 miles ; New as follows for the years ending Sept. 30,1883, 1884, 1885 and 1886:
burg. 19 miles: Buffalo. 60 miles: Erie International RR.. 5 miles;
1883,
1884.
1885.
1886.
$7,057,»69
Rutherford to Ridgewood, 10 miles; leased—Montgomery & Erie RR., Total incom e.... $8,234,463 $6,356,983 $5,589,748
10 miles; Goshen & Deckertown, 12 miles; Newburg A New York, Total debits*.... 6,968,978
7,055,606
6,966,691
7,043,258
13 miles; Paterson Newark. AN. Y., 11 miles; Hawley A Honesdale, 24
miles; Jefferson RR., 37 miles; Buff. Brad. & Pittsburg and extension, 68 Surp.ordeficit.. $1,265,485 def.$698,622df.$1,376,943 Sur.$14,611
miles; Buff. N. Y. & Erie, 140 miles; Suspension Bridge A Erie Junction.
* Includes full interest on 2d consols each year whether paid or not.
23 miles; Rochesttr& Genessee Valley, 18 miles; Avon Gen. & Mount
Morris, 18 miles ; Pat. A Hud., 15 miles; Pat. & Ram., 15 miles; Lockport
- ( V . 43. p. 23, 132, 191, 245, 399, 648, 6 6 9 , 671; V 44, p. 22, 90,
A Buff., 15 miles; Buff. & Southw., 68 miles: controlled—Newark & Hud., 149, 212, 308, 369, 401,466, 551, 602, 681; V. 45, p. 26, 143, 211, 212,
6 miles; Weehawken N.Y. & Ft. Lee, 4 miles; Northern of N. J., 25 miles; 305.)
Middletown & Crawford, 11 miles; N, Y. Penn. & Ohio and branches, 573
N ew Y o r k & L o n g B r a n c h .—The following-named companies
miles; total operated, 1,678 miles.
On May 1,1883, began to operate the New York Pennsylvania & Ohio were consolidated on December 21, 1881: New Yo~k & Long Branch
RR.,
from Perth Amboy to Long Branch, 23 miles; New Egypt A Farunder lease, and on May 14,1883, the Chicago & Atlantic road was
opened from Marion, Ohio (on the New York Pennsylvania & Ohio), to mingdale RR., from Long Branch to Ocean Beach, 7 ; Long Branch A
Sea
Girt
RR., from Ocean Beach to Sea Girt, 3; New York A Long
Chicago, 268 miles, and under control of N. Y. Lake Erie & West, gave a
complete line from New York to Chicago; but in 1885, owing to dissen Branch Extension RR., from Sea Gi rt to Point Pleasant, 3 ; Long
Branch
A
Bamegat Bay RR., from P oint Pleasant to Bay Head, 1;
cions, this was broken.
O rg an ization . L eases , A c .—The New York & Erie'RR. was chartered total length, 38 miles. The Central RR. of New Jersey owns a ma
jority
of
the
stock, and by contract of Jan. 3,1882. the Penn. RR. and
April 24,1832, and the State of New York loaned the company $3,000,000; the road was opened to Dunkirk April 22, 1851. The company Central of N. J. agree to pay 32 p. ct. of gross traffic—$206,000 per year
as
a
minimum
to $240,000 as a maximum. In 1886 gross earnings were
was reorganized under the name of Erie Railway Co. June 25, 1861.
This Erie Railway was sold in foreclosure trader the second consolidated $602,552; net, $129.099.
N ew Y o r k Sc N ew E n g la n d .—The mileage owned is as fol
mortgage in 1878. The present company »ras organized and took
possession June 1,1878. The Long Dock Co. has stock of $800,000, all lows: Boston to Hopewell Junction, 215miles; Wicopee to Newburg, 3
owned by the N. Y. L. E. & W.; its property consists of lands and lands miles; Providence to Willimantic, 58 miles; branches—Newton, Mass.,
to Woonsocket, R. I., 28 miles; East Thompson, Conn., to Southunder water, about 577 acres, with piers, buildings, Ac.
Sto c k and B onds .—Preferred stock has a prior right to 6 per cent bridge, Mass., 17 miles; Elmwood to Dedham, Mass., l^amiles; Charles
<non-cumulative* from the net profits, “ as declared by the board of di Riv. to Ridge Hill, Mass., 2 miles; other branches, l ^ miles; total owned,
rectors,” but the U. S. Supreme Court held in 1886 that this stock has 326 miles. Leased—Franklin to Valley Falls, 14 miles; Vernon to Rock
ville, 4 miles; Springfield to E. Hartford, Ac., 34 miles; Norwich A Wor
no legal right to claim a di /idend, though net earnings’ are sufficient.
Prices of com. and pref. stock since June, 187b, have bee t as follows: cester RR., 66 miles; total leased, 119 miles; also has running arrange
Com.—In 1878,1 ^ 2 2 ^ ,-, in 1879, 21is@49; in 1880, 30@ 5H 8;iu 1881, ments over 26 miles more. Total, 471 miles. Controls Norwich A N, Y.
39%®52t8; in 1 8 8 2 ,3 3 ^ 4 3 ^ ; in 1883, 26*8®4078; in 1884, 1118®2838; Steamer line.
The former Boston Hartford A Erie Railroad became insolvent and was
in 1885, 9i4®2:78; in 1886, 22V®383s; in 1887 to Sept. 16, 277s®
35®8. Pref.—In 1878,21*3®38; in 1879, 37*207818; in 1880, 47® 93*2; succeeded by this company, loomed in 1873. In 1878-79 the company
ip 1881, 80ta@96ia ; in 1882, 67® 8814 ;in 1883,72083: in 1884, 20® acquired the Hartford Prov. A Fishkill RR. Since the completion of
the line to Fishkill on the Hudson in 1893, the through traffic rates
71; in 1 885,18®57; in 1886, 50^ ® 81^ ; in 1887 to Sept. 16, 64076»
The 1st cousol. funded coupon bonds are secured by lien of consoli have been demoralized, and the N. Y. A New England has not yet
dated mortgage. On the second consolidated mortgage no foreclosure realized the full benefit of that extension.
On January l, 1884, Mr. C. P. Clark, the President, was appointed the
can take p'ace till six successive coupons are in default, but all of one
coupon must be paid before any part of a subsequent coupon is receiver, and so remained till Jan. 1, 1886, When the road was returned
paid. In 1883 the collat’l trust bonds were issued (the U. 8. Trust to its owners. For the car trust bonds 2d mortg. bonds were issued,
Co. trustee; see V. 38, p. 509), and redeemable at 110 on three months’ bearing 3 per cent to Feb. 1890, 5 per cent to Feb 1892 and 6 for bal
notice ; about $730,000 were so redeemed Nov., 1885. The 2d consol, ance of term. In 1885 $2,000,000 of 7 p. c. cumulative preferred stook
funded coupon bonds of 1885 were issued to fund three past due at par taken by stockholders and others cleared ott the floating d;bt.
Prom October 1, 18p6, to June 30, in 1887 (9 months), gross e irnings
coupons and thq coupon of June, 1886, and the coups, are deposited as
security. These* bonds are redeemable at any time at 105 and accrued were $2,979,565, again»t $2,724,449 in 1885-6; net. $9¿9,792. against
interest. The Long Dock mort. for $7,500.000 was issued in 1885 $927,877; surplus over charges, $78,022, agst. a deficiency of 16,172.
Annual report for year ending Sept. 30, 1886, in V. 4 3, p. 70.
($3,000,000 being reserved to meet the old bonds), and the bonds under
Operations, Ac., for four years past w ere:
this mort. are payable at 110 from proceeds of land sales.
f
f
INVESTORS’
78
SUPPLEMENT.
|"VOL. XLV_
Subscribers w ill confer a great favoi by givin g Im m ediate notice o f any error discovered In these Tables.
I.Bonds—Prinei INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Due.
Amount Rate per When Where Payable, and by•pal,When
Par Outstanding
Stocks—Last
of
explanation of column headings, «fee., see notes of
Cent. Payable
Whom.
Dividend.
Road. Bonds Value.
on first page of tables.
New Torle Penn. A Ohio—Prior lien bonds, goid,$«feJ8
1st mort., gold (no foreclosure till 1895,) $ <&JB..
2d mortgage, incomes, $ <&£ ..................................
3d mortgage, incomes, $ <&£ ..................................
N. Y. Phila. A Norfolk—1st mortgage, gold.............
Income mortgage, non cumulative.,............. . ........
N. Y. Prov. A Boston—(Stonington)—Stock.............
First mortgage...........................................................
1st mortgage (Stonington to New London)............
N Y.Susqueh.A Western—1st mort., Midland of N. J.
Mortgage, gold, on Paterson Extension...............
New first mort., gold (2d M. on 72 miles)________
New 2d M. ( $1,000,000 gold), 3d M. on 72 miles..
N. Y. Tex.AMex.—1st M.. gold.....................................
N.Y. Woodhaven A Rockaway—1st mortgage, coup .
Income bonds, non-cumulative, reg........................
Niagara Bridge A Canandaigua—S tock ..................
Norfolk Southern—1st mortgage, gold.....................
2d mortgage, income (not cumulative)..................
2d mortgage debenture............... «...........................
Funded Int. bonds ($270,000 secured by coupons)
Norfolk A Western.—Common stock..........................
Preferred (6 per cent) stock.....................................
General mortgag, gold (for $11,000,000).............
1st M., gold, on New Riv. div, (coup, or reg.)........
Improv. <feExt. mort., gold, ($8,000,000 author’d)
Adjustment mort., gold (red’ble after ’94 at 110).
lstm o rtg on Clinch Valley D iv.......... ..................
INCOME ACCOUNT.
"82
50
12
73
134
134
16
iöo
75
75
533
533
428
106
533
533
115
1880 $500«fee. $8,000.000
6 g1880 500 «fee, 44.236.000
1880 500 «fee, 14.500.000
000 5 g.
1880 500 «fee. 30.000.
1.848.000
1,000
1883
1,000,000
1,000
6 g<
1883
3.000.
000 2 la
100
1.000.
000 7
1,000
1869
300.000
4
1,000
1881
3.500.000
6
1880 500 «fee.
250.000
1,000
1881
3.750.000
1,000
1887
5 g636.000
1,000
413g,
1887
1,442,500
500
4 g.
1882
1,000,000
1,000
1887
1,000,000
1887
1,000,000
io o
900.000
1,000
1880
1,000,000
1,000
1881
250.000
1,000
1881
300
345.000
'80-’82
100
7.000.
000
000
100 22.000.
3 ^ scrip.
6.907.000
1.000
1881
6 g2.000.
000 6 g.
1,000
1882
3.500.000
1,000
1883
6 g.
1.500.000
1,000
1884
2.500.000
1,000
1887
It
1884-85.
$
3.288,946
987,231
23,473
1885-86.
$
3,863,994
1,243,389
35,411
385,481
428,122
1,010,704
1,278,800
74,844
848,064
7,594
86,582
88,903
916,273
10,113
82,103
130,132
933,221
28,769
32,041
66,235
964,629
94,269
9,507
133,000
1,267,640
1,097,397
1,124,166
TotTdisb’ ments. 1,017,084
Balance ................ def. 631,603 def. 669,275 def. 113,459 sur. 11,160
♦Including int. on Terminals and/w(f interest on bonds each year.
—V. 44, p. 22,149, 185, 276, 308, 344,525, 551, 682; V. 45, p. 178, 305.)
N ew Iforlt N ew Savent Sc H a r tfo rd .—Owns from Harlem JunoN. Y«, toSpringfleld, Mass., i 23 miles ; branches to New Britain, Middle,
town andSuffleld, 18 miles, leased—Harlem <&Portchester RR., 12 miles;
Shore Line RR., 50 miles ; Boston <&New York Air Line and branch, 54
miles; Stamford & New Canaan Road, 8 miles—total operated, 263
miles. This was a Consolidation July 24, 1872, of the New York <feNew
Haven and the Hartford <& New Haven railroads. The company uses
the N. Y. <fe Har. RR. from Williamsbridge into N. Y. City and pays a
large rent therefor. The company leases the Harlem River <fe Portehester Railroad, and guarantees the bonds. In November, 1882, the
lease of the N. Y. <&Boston Air Line for 99 years at 4 per cent per an
num on the preferred stock was made. In Sept., 1882, the stock of the
Hart. <fe Conn. Val. road was purchased. In April, 1881, a controlling in
terest was bought in the N. Haven <fc Northampton RR. In July, 18*7,
It was voted to lease the New Canaan road, the Naugatuck, the New
Haven <&Northampton and the Hartford <fe Connecticut Valley.
From October 1,1886, to June 30,1887 (9 months), gross earnings
were $5,555.302, against $5,440,320 in 1885-86; net, $1,922,874,
against $1,892,329; surplus over fixed charges, $1,309,944, against
$1,298,377. Fiscal year ends Sept. 30. Annual report for 1885-6 was
in V. 44, p. 58.
1883-4,
1884-5.
1885-6.
$
$
Gross earnings..........................
6,88.7,259
6,895,824
7,601,946
Operating expenses..................
4,655,044
4,449,238
4,775,*20
Disbursern enls—
Rentals p a id ......................... .
Interest on debt.................
Total..............................
Surplus for dividends. ............
Dividends paid........................ .
2,232,245
2,446,536
2,826,126
422.992
250.052
425,668
250,000
442,876
250,000
673,044
1,559,171
1,559,1
1,550,000
675,668
1,770,868
1,550,000
692,876
2,133,250
1,550,000
9,171
220,868
5 a3,250
Balance................................
(V. 44, p. 58, 212, 495, 586, 653, 681, 782; V. 45, p. 53, 84, 240.)
N ew Y o rk O ntario Sc W e ste rn .—(See Hap)—Owns from Oswego,
N Y., to Cornwall, N. Y., 273 miles; branches to New Berlin, 22 miles;
to Delhi, 17 miles: to Ellenville, 8 miles; total owned, 320 miles; leases
Randallsville to Utica, 32 miles, and Clinton to Rome, 12 miles. By con
tract has right over West Shore RR. from Cornwall to Weehawken, 53
miles; total operated, 417 miles.
In May, 1886, made the agreement with the D. <& H. Canal Co. for
operation of the U. C. <fc Bing, and the Rome <fe Clin, roads for 30 years
oa a percentage basis.
This was the New York <fe Oswego Midland. Main line was opened
July, 1871. Default was made in 1873. The main line was sold in fore
closure Nov. 14,1879, Present company organized January 22,1880.
Of the $4,000,000 of 6 per cent first mortgage bonds $2,000,000 were
nsedto retire the preferred stock, of which $73,000 was outstanding Oc
tober, 1886. By agreement with the new West Shore Co. in January,
1886, the N. Y. O. <fe W. took title to the road, Middleton to Cornwall,
and a right to run its trains over the West Shore from Cornwall to Weehaw ken by payment of a fixed sum per mile for trackage.
From Oct. 1,1886, to July 31, 1887 (10 mos.), gross earnings were
$1,145,650, against $1,214,293 in 1885-86; net, $144,417, against
$146,705.
In the year ending Sept. 30,1886, gross earnings were $1,492,851;
net, $221,999. See annual report in V. 43, p. 606.
From Oct. 1, 1886, to June 30,1887 (9 mos.), gross earnings were
$990,249, against $1,069,964; in 1885-6; net, $154,599, against *161,716; deficit under charges, $34,801, against a surplus of $44,850. (V.
43, p. 6 0 6 .6 1 9 ; V. 44, p. 212, 276, 308, 434,451,654,713; V.45. P.
26,14 3 ,2 4 0 .27 2 .)
N ew Y o r b P en n sy lv an ia Sc O h io.—Owns from Salamanca,
N. Y., to Dayton, O., 388 miles; branches—to Oil City, 34 miles; to
Silver Creek, O., 2 miles; total owned, 424 miles. Leased lines—
Cleve.ife Mahon. RR.,81 m.; Niles <&New Lisbon RR., 36 m.; other small
branches, 32 m.; total operated, 573 miles. Changed to standard gauge
June, 1880. Formerly Atlantic & Great Western Railway. Sold July
1, 1871, and leased to Erie on May 1,1874, but lease not carried out.
M.
J.
M.
M.
J.
«& S. London and New York,
<fe J.
do
do
<feN.
do
do
do
do
<&N.
«& J. Phila., Penn.RR. Office.
do
do
Q—Feb. N. Y., Central Trust Co.
J. <fe J.
do
do
A. <fe O.
do
do
A. <fe O. N. Y., Nat. Park Bank.
N. Y., office of Co.
I. <fe D.
J. <& J. N. Y „ Nat. Park Bank.
F, «& A. New York, Park Bank.
N. Y ., So. Pac. Co.
A. <& O.
Treasurer’s Office.
J. <fe J.
A. <fe O. N. Y., Cent. RR. Office.
M. <fe S. Int.fund. from Sep. 1,’84
Yearly.
A. <fe O. Int.fund. from Sep.1,’84
Various
March 1 ,1 8 9 5
July 1, 1905»
May 1, 1910»
May, 1915
Jan. 1, 1923
Oct. 1,1933
Àug. 10, 188T
July 1, 1899
A p r ili, 1901
April 1, 191®:
1911
Jan. 1,1937"
Feb. 1 ,1 93 7
Oct. 1, 1912s.
Oct.
Sept.
Jan.
Oct.
1920
1, 1887
1, 1920
1, 1970»
1, 192b
<fe 1921
Jan. 15,1884.
M. <fe N. N. Y. and Philadelphia, May 1, 1931
A p r ili, 1932
do
do
A. & O.
Feb. 1, 1934
do
do
F. <fe A.
Q.—M. New York and Phila.
Dec. 1, 1924
1957
V
1883-84.
$
3,337,901
396,276
31,846
1882-83.
Receipts—
$
Gross earnings.......... 3,568,653
382,277
Net earnings...............
3,204
Other receipts............
Total income.......
Disbursements—
Rentals pa id.............
Interest on bonds*...
Int. on floating debt.
Int.on car tr’st s &mis.
7 per cent dividend..
432
432
432
432
112
Again sold Jan. 6, 1880, and reorganized by a London committee»
of stock and bond holders. (See V. 30. p. 143.)
Five trustees exercise the voting power of the new stock until the thir&
mort. bondholders receive 7 per cent interest in cash during three years.
The first mortgage bonds bear 7 per cent, whatever portion of this that;
may not be earned to be payable in deferred warrants, to be capitalized
in bonds of the same class; payment of interest to become absolute n o t
later than July 1,1895, and until July 1,1895, the right to foreclose»
the mortgage is suspended. On the second and third mortgages thereis no right to sue the company or to foreclose. The stock is—preferred
$10,000,000; common, $34,999,350. The deferred warrants Deo. 31».
’86, were $5,502,176. Bonds above are also secured on leasehold estates.
A lease to N. Y. Lake Erie <& Western from May 1,1883, was modi
fied from April 1, 1887. The rental is 32 per cent of all gross earnings;
up to $6,000,000, and increased by 1-10 of 1 per cent on each $ 100»100 of gross earnings above $6,000,000 until the gross earnings are
$7,250,000, and then 31« per cent of all earnings. But if 32 per cent
of the gross earnings should ever be less than a specified minimum sum.
of $1,757,055 to be paid yearly, then the deficit is to be made up without
interest out of the excess in any subsequent year. Out of the rental paid,
the N. Y. P. <&O. has to pay its interest and rentals, and a payment o f'
$260,346 a year to the car trust. See V. 45, p. 211.
Earnings for year ending Sept. 30,1886, $6,161,107; net, $2,011,522s
rental to N.Y. P. <fe O., $2,001,401; surplus of N. Y. P <&O. after all pay
ments, $9,876. See V. 44, p. 342, 370: V. 45, p. 84,143, 211.
N ew Y o r b P h ila d e lp h ia Sc N orfo lb .—Operates from Delmar»
Del., to Cape Charles, Va„ 95 miles, aud King’s Creek, Md., to Crisfleld».
17 miles; total, 112 miles. Successor of the Peninsula RR. Co. of Va.»
Jan. 1, L884, purchased the Eastern Shore (Md.) RR., Delmar to Crisfield, 38 miles. Capital stock, $1,714,375. There is also a 6 per cent
bottomry mortgage for $225,000 due in 1*87. Gross earnings in 1884,
$123,526; net, $50,236; interest on bonds, $55,920. Gross in 1885*.
$313.148; net, $18,500; interest, $120,007. A. J. Cassatt. Pres., Phila.
N ew Y o r k P r o v id e n c e Sc B o s t o n .—Owns from Providence, R.
L, to Groton, Conn., 62 miles; Warwick RR., 10 miles; Pontiac branch,
4ifl miles; operates also Pawtuxet branch roads, 5 ^ miles; total oper
ated, 82 miles. Owns a m ioncy interest in the Providence <& Stoning»,
ton Steamship Line, which* as a capital of $1,400,000. Gross earnings
in 1885-86, $1,237,120, a mst $1,139,886 in 1884-35; net earnings,
$376,073. against $378,370. (V. 43, p. 745.)
N ew Y o r b Susqnebanna Sc W e ste rn .—Jersey City to Grave U
Place, 101 miles; Two Bridges, N. J.. to Unionville, N. Y., 21 miles; other
branohes, 12 miles; leased—Unionville. N. Y., to Middletown, N. Y.. 14m. j.
Lodi Br., 2m.; Penn. RR. trackage, 3m.; Passaic Br.. 3m.; total, 155m..
The New Jersey Midland was sold in foreclosure Feb. 21,1880, and.
the Midland oi New Jersey was organized. The New York Susquehanna.
<&Western was a consolidation in June, 1881, of the Midland of New
Jersey and other railroads. Stock common is $13,000,000; preferred
(cumulative 6 per cent), $8.000,000. The New Jersey Midland junior
securities were exchangeable into stock of this company on certain
terms, and the exchanges up to Jan. 1,1887, left $1,844,474 of the o ld
stock, income bonds and scrip not yet exchanged.
In Dec., 1886, new 5 per ct. bonds were proposed, to exchange for thefirst mort. bonds and coupon scrip, and the exchange was generally ac
cepted by bondholders, maklngthe debt as above given, though some fe w
holders are reported to have h Id out (See annual report V. 44, p. 619.1»
From Jan. 1 to July 31,1887 (7 mos.), gross earnings were $735»—
666, against $601,628 in J886; net, $329,813, against $151,576,
Income account has been as follows:
INCOME ACCOUNT.
1883.
1834.
1885.
1886..
Receipts—
$
$
$
$
Total gross earnings........ 1,038,656 1,034,208 1,092,355 1.129,44Y
416,521
474,835
400,065
457,286:
Net earnings .....................
44,023
T otal.............................
Disbursements—
Interest on bonds.............
Rentals ................... - ........
Car trust obligations........
400,065
416,521
474,835
501,309
382,500
411,000
25,000
83,192
*32\09>
25,000
t 92,3 52
*327,765
29,500155,919*
519 192
439,447
382,500
513,184.
Total disbursements..
Balance............................. sur. 17,565 df.102,671 sur. 35,388 df. 11,875
♦ Half interest only paid on N. Y. Sus. <fe W. firsts and debentures.
tThe car trusts accrued during the year amounted to $117,552, o fwhich payment of $25,200 was deferred.
—(V 43, p. 335, 368, 516, 672,746; V. 44, p. 22,149, 308, 6 1 9 , 752 ; V .
45, p. 143, 211.)
N ew Y o r b T ex a s Sc M e x i c a n .-Line projected from Rosenberg.
Junction, Texas, to Brownsville, 350 miles. Completed Rosenberg to»
Victoria, 92 miles. Stock, $814,800. There are also $75,500 6s yek
outstanding. In September, 1885, sold to So. Devel. Co. and is oper
ated by the 8o. Pacific. From Jan. 1 to July 31, in 1887 (7 mos.), grasa
earnings were $92.063, against $78,341; net, $2,419, against a deficit
of $8,960. In 1886 gro.-s earnings were $153,858; net, $9,006. (V. 43»
p. 133, 163; V. 44, p. 335, 344.)
N ew Y o r k W o o d h a v e n Sc R o c lta w a y .—Owns from Glen dales
Junction to Rookaway Beach, 10% m iles; leased—Glendale Junction toLong Island City, 6*3 miles; Fresh Pond to Bushwick, 2*2 miles; Wood»-
BONDS
RAILROAD STOCKS AND
S e p t e m b e r , 1887. J ]
INVESTORS’
SUPPLEMENT.
[T ol . x l v .
81
RAILROAD STOCKS AND BONDS.
S eptem ber , 1887.]
Subscriber, w ill confer . ureal favor b , giv in g lum aedla.e n o lle , o f a n , error d l.c o v .r c d I . Ih e .e T a b l« ^
Bonds—Princi
INTEREST OR DIVIDENDS.
pal, When Due.
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par Outstanding
of
Dividend.
For explanation of column headings, &e., see notes of
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Various.
New York & Phila.
M’nthly
$1.297,642
Varis $ . . . .
Jan. 15, 1894
Norfolk A Western—( Continued j—Car trust. - -.-----J. & J. Philadelphia Office.
6
525,000
500
1884
July
I, 1893
Convertible debent’res (red’ble on 30 days notice)
J. & J. N. Y. and Philadelphia,
8
496,000
1,000
81 1868
1888 to 1900
Norfolk & Petersburg—2d mort . .. - . . . . - -- v,- -a:
do
do
503,000 5, 6 & 8 J. & J.
1,000
1866
133
18
-8
to
1900
South Side—1st pref. con. M. (ext. in 85 and 86)
do
do
5 & 6 J. & J.
395,300
do
2d
do
guar. Petersb’rg 133 1866 200 &o.
Jan.l.’96-1900
do
do
J. & J.
6
452,800
200
&c.
1866
133
June
30,1900
do
3d
do
— ...
do
do
J. & J.
5
990.000
1,000
Mch. 1, 1900
Virginia & Tenn.—Enlarged mort, (extend d in 84) 214 1854
do
do
J. & J.
8
1,000,000
1,000
Sept. 1, 1887
%.o
do
4th mortgage...................... 214 1865
Burlington,
N. C.
M.
&
S.
3
3.000,000
100
Sept. 1, 1887
North Carolina—Stock, com m on.............................. 223
do
do
M.
&
S.
3
1.000,000
100
Nov., 1888
do
do
Preferred stock............- ......................................... *• 223
M.
&
N.
8
210,000
500
’67-’68
223
Nov.
1, 1901
M. & N.
Mortgage bonds.......................................................
6
1,100,000
....
76 1881
Jan. 2. 1889
North Pacific Coast—1st and 2d mortgages.............
J. & J.
150.000
Aug.
25,1887
1st mort. Nor ' h Pacific Coast Extension Co. . . . . . .
Philadelphia,
Office,
O.—F.
*2*
4.399,750
50
88
May 1, 1896
do
do
North Pennsylvania- -Stock, guar................ - ...........
M. & N.
7
1,500,000
500 *o.
....
56
1903
do
do
J. & J.
2d mortgage.......... ....................................................
7
4,169,500
Sept. 1, 1905
do
do
Général mortgage bonds................ ........................
M.
&
S.
3
1.200,000
1881
In
1884-5
Bonds secured by $1,200,000 stock.......................
6
899,350
50
Sept. 1, 1899
Charleston, Office,
Northeastern (S. O.)—Stock...».................................. 140 1869
M."& 8.
8
820,000
500
102
Sept.
1, 1899
do
do
M. & S.
1st mortgage..............................................................
8
322.000
500
J. & J. N. Y., John Paton & Co. Jan. 1, 1933
2d m ortgage.................. . ........................................... 102 1869
694,000
6
g•
1,000
1883
Jan. 1,1907
Consol. mort., gold (for $1,836,000).... ..- — - - - I. & J. Southern Pacific Co.
3,964,000
1,000
Northern ( Cal.)—1st mortgage ($^300,000), gold .. 149 1877
April 1,1908
do
do
I e' A. & O.
1,023,000
1,000
47 1878
San Pablo & Tulare—1st mort. ($3,750,000)........
Bost.,Cono’d or Leban’n May 2, 1887
J.
&
D.
3
3,030,692
100
83
Northern. N. H.—Stock...............................................
J. & J. Baltimore & Philadel. July 15,1887
4
7,150,000
50
323
Irredeemable.
Northern Central—Stock.......... . . . ..........................
Annapolis.
Q.—J6
1.500,000
1st mortgage, State (Maryland) loan...................... 138
A. & O. Baltimore & Philadel. April 1, 1900
1,126,000
138 1865 500 &c.
July 1, 1900
Baltimore,
Treas.
Office,
2d mortgage, coupon...............................................
J.
&
J.
2,599,000
t
*
1,000
July 1, 1900
Consolidated mortgage, gold, cou p on .................. 138 1868
do
205,000
6 g. A. & O.
1,000
July 1, 1904
Consolidated mortgage, gold, registered - --------- 138 1868
London
&
Baltimore.
J.
&
J.
6
g.
2,366,000
July 1, 1904
Consol, gen. mort., gold, s- f., coup., £ or $ A & B 138 1874-5 1,000
Baltimore,
Treas.
Office
6 g. J. & J.
2,000,000
1876-7 1,000
do
do
gold, coup. $ C * D . . . .
April 1, 1925
do
A.
&
O.
4!ag.
1,220,000
1,000
1885
do
do
ao
do
E .^ .....-.
Jan. 1, 1926
Baltimore.
J. & J
5
2,785,000
1,000
138 1876
2d general mort.. “ A,” coupon (sinking fund) .
gross, $570,058; net, $162,819; in 1885-86, gross, $558,633; net, $121,baven to Brooklyn, 61« miles; total operated, 26% miles. The 765. (V. 43, p. 717«)
stock is $1,000.000. Under L. I. RR. con tri 1 Foreclosure sale was
N o r t h e r n (C a lifo r n ia ).—Owns from West Oakland to Martinez, 31
made in June, 1887, and new securities issued.-asi above. In 1885-6
gross earnings were $111,986; net, $20,255. (V. 43, p. 217, 245, 335, miles- Benicia to Suisun, 16 miles; Woodland to Tehama. 101 miles;
leased,
San Pablo & Tulare RR.—Martinez to Tracy City, 47 m iles;
872, 434; V. 44, p. 713; V. 45, p. 13, 341.)
total operated, 195 miles. Completed in 1878 and is leased to the
N iagara B rid ge & C a n a n d a ig u a .-O w n s from Canandaigua to Central Pacific till Jan. 1,1907. at a rental of $40,000 per month and
Susnension Bridge, N. Y., and branch, 100 miles. The road is leased in guar of principal and interest of bonds for Northern; and San Pablo *
neroetffitv to t i e New W k Central & Hudson at $60,000 per annum. T. leased till 1908 for $ i 3.800 per month and guar, of princ. and ink of
vdtE right of lessee to commute by payment of a gross sum of |l.00(1000. bonds In 1881 8 percent dividend paid; in 1882.1%,; in 1883, 3%.
N orfolk S o u t h e r n .—Formerly the Elizabeth City & Norfolk. Name The Northern stock is $6,190.500—authorized. $8,400,0i)0, and San P.
changed Feb. 1,1883. Owns from Norfolk. Va., to Edenton, N.C., 73 &T stock $1,861.000. Gmss earnings in 1886 were $2,762,7o0; net,
miles Capital stock. $1.000,000. The holders of 1st m«rt and deben
1,699,059. W. V. Huntington President. San Francisco.
ture bonds funded their interest for five years, Sept, and Oct ,1884, to
N o r t h e r n , N e w H a m p s h ir e .—Owns from Concord, N. H .,to West
March and April, 1889, respectively. Gross earnings in 1885, $206, Lebanon,
N.
70 miles; branch, Franklin, N. H., to Bristol, N. H., 13
310- net, $71,165; surplus over all payments. $6,953. Gross in 1886,
miles;
total, 83 miles. Leased to Boston & Lowell at 5 per cent per
$210,200; net, $66,002; surplus over all payments, *11.038.
ear on stock. In March, 1887, the Supreme Court of New Hampshire
N orfo lk & W e s te r n .—( See Map.J-Owns from Norfolk, Va..to Pe,
tersburg, Va., 81 miles; Petersburg V a .,to Lynchburg, Va. 123 miles, ueld the lease to be invalid, and <ompany resumed possession July 1.
Lvnchburg, Va., to Bristol, 204 miles; branches-Petersb’gto CitvPomt, In 1886-7. net income from rental and interest account was $210,275;
Va., 10 nines; junction to Saltville, Va.. 10 miles; New River Division dividends of 6 per cent. $179,838. The only UabiUties are a guaranty
Jue,
75 miles; coal mine branches, 8 miles; Cripple Creek extension, 23 of $500,000 Concord & Claremont Railroad bonds, of
era RR. owns $200,500. (V. 43, p. 184; V. 44, p. 370, 544, 7 1 » ; V*
miles; total operated Deo. 31,1886, 533 miles.
The Atlantic Mississippi* Ohio RR. Co. was a consolidation of Nor 45, p. 26.)
N orthern C en tral.—Owns from Baltimore, Md., to Sun bury, P a .,
folk & Petersburg, South Side and the Virginia & Tennessee roads, m all
of w h i c h the State of Virginia had an interest for loans made to them. 139 miles; branch-Relay to Green Spring, 9 miles; leased-ShamoMn
Default on the Atlantic Mississippi & Ohio consolidated bonds was made V„Alev * Pcttsville RR., 28 miles; Elmira & Williamsport Railroad, 78
October 1,1873, and the road was sold in foreclosure Feb. 10, 1881, miles; operated at cost—Chemung Railroad, 22 miles ¡Elmira Jeiforson
and was reorganized as the Norfolk & Western. Of the general mort & Canandaigua RR., 47m iles-315 miles; track of New York Lake Erie *
Western used 7 miles; total operated, 323 miles. This was a consoUdar
__ ..
gage, enough is reserved to take up prior liens.
In May, 1887, the negotiations for sale of $2.500,000 bonds on the tion of several roads in Dec., 1854. The terms of the several leases Trill
Clinch Valley Division (connecting with Louisville & Nashville) and be found under the names of the leased roads. In February, 1882, pur
chased at par the stock of Union Railroad in Baltimore. $b00,000,
$4,000.000 pref. stock were referred toin V. 44, p. 654.
The management of the company has been active m extending and practically making that road a pait of the Northern Central property,
mproving the property, and in 1887 the above named line is in progress subject to its mortgages. The consolidated general mortgage (gold) of
1874 was for $10,000,000 to retire all prior bonds. Of the above bonds
to connect with the Louisville & Nashville.
* 001,1
From Jan, 1 to July 31 in l->87 (7 mos.) gross earnings were $2,214,- $2,366,000 are sterling or dollar, interest payable in London or Balti
more, and the balance are dollar bonds, interest in Baltimore.
548, against $1,205.669 in 1886; net, $854,377, against $659,210.
Ten per cent iu stock, in addition to tne regular dividend, was paid to
The annual report for 1886 was published in the Ch ronicle , V. 44,
pp. 493, 496. The earnings and expenses for four yeara were:
___ L a>o am
stockholders July 5,1887.
'
.
1886.
From Jan. 1 to July 31 in 1837 (7 mos.) gross earnings were $3,617,1885.
1884.
1883.
533
929, against $3,031,862 in 1886; net, $1,444,217, against $1,021,137.
510
503
Miles operated ___
503
The business of the company depends to a considerable extent on
$
$
$
Earnings—
$
486,231 coal traffic. The fiscal year ends December 31, and the report lor
458,445
521,192
Passenger.................
485,805
2,510,827
2,138,120
2,025,087
1886 was in the Chro nicle , V. 44, p. 273.
Freight.....................
2,181,711
174,998
174,5:5
164,875
Income account for four years was as follow s:
Mail, express, & c.. . .
145,260
Total gross earn’s.
Operating expenses.
2,812,776
1,509,574
2,711,154
1,516.858
2,771.120
1,6 »9,291
3,252,056
1,960,910
INCOME ACCOUNT.
1886.
1885.
1883.
1884.
$
Receipts—
5,474,617
5,490,923
5,521,876
6,088,130
1,291,146
Gross
earnings........
1.121.829
1,194,296
Net earnings............
1,303,202
1,931,949
2,235,309
2,053,482
2,256,525
60-29
Net earnings.............
600
55-9
53-7
P.o. of op. ex. to earn
277,348
254.070
263,829
246,843
INCOME ACCOUNT.
2,209,297
2,489,
J
7
n
1886.
2,317,311
1885.
1884.
1883.
Total income........ 2,503,368
d
¡é
$
$
$
Disbursements—
$
$
$
446 997
442,203
1,325,449 Rentals l’s’d lines,&o*
461,761
1.121.829
557,313
1,194,296
Net income.............
1,303,202
903.041
931,272
935,014
881,180
$
$
$
Interest on debtt.......
Disbursements—
. $
520,000
520,000
520,000
1,184,547 Dividends (8 perct.).
1,139,991
520,000
953,436
810,792
Inter, on bonds, &c..
44,775
53,690
46,511
41,130
525,000
Miscellaneous...........
Dividends..................
' '9,239
55,699
M iscellan eous.......
1,914,813
1,947,165
1,963,286
1,999,623
Tot. disbursements.
1.195,690 1,193,786
294,484
542,214
1,335,792
953,436
354,025
Total disbursem’ts.
503,745
Balance, surplus...
Balance for yea r. . . . def.32,590 sur.240,860 def. 73,861 sur 131,663
t
Includes
oar
trusts.
* Includes rent of roads and interest on equip.
—(V 43 n 23 132. 274, 399, 516, 635, 672, 718; V. 44, p. 22,149, 212
309, 335, 401,'434, 458, 482, 4 9 3 , 4 9 6 ,5 8 6 , 654,751; V. 45, p. 113 —(V. 43, p. 132, 245, 368, 516, 635, 774; V. 44 p. 83, 149, 2 7 3 , 276,
401,’782.)
C a r o lin a .—Owns from Goldsboro to Charlotte, N. C., 223 m,
N o r t h e r n o f N e w J e r s e y .—Owns from Bergen, N. J., to Spar*
Them im ertvw as leased Sept. 11, 1871, to tne Richmond & Danville sill, N. Y , 21 miles; leased SparkiU to _Nyack, 5 miles; total operR a t o o ^ io r 3 0 vearsat a rental of $260,000 per year. Dividends of 6 Ated 2ft miles This road was opened October 1, 1859. By contrae«
per cent are padcl on the stock, of which the State ofNorth
of April 1869 it is operated by New York Lake Erie & Western at 35 per
$3,000.000, and the dividends thus received by the State are applied to cent of Its gross earmngs. It is understood the contract is termmable
her bonds issued to the North Carolina RR. Rental, &c., in 1885-86, bv either nartv on notice. Dividends are paid as earned on the rentad.
$273,729; expenses, $24,322; balance, $249,407. Rental, etc., in «6-7 C ^ o l f r l c f f l r i s s t e $322,216 ; net, after Payment of charges, sink
$274,849; expenses, $24,660; balance, $2o0,189; div s paid, $238,698. ing fund add dividends, $262. Gross in 1885, $317,458 , surplus over
N o r t h Pacific Coast.—Owns from Saucelito to Moscow Mills, Call interest, dividends, &c.. $12,303. (V 44, p. 118.)
73 miles branch to San Rafael, 2 miles; leased, San Ralael to Ban
N o r t h e r n P a c if ic .—(See Map.)—Line op R oad —On June 30,1887,
Quentin, 4 miles; and Duncan’s Mills to Ingram, 7 miles; total oper che
mileage was made up as follows : Main line—Ashlaud, Wis., to Walated, 86 miles. Stock, $2,500,000. Earnings in 1885. $289.557; net lula^unctfon Oregon, 1,739 miles; Duluth to Northern Pacific Junction,
$54 998.
,.
23 miles- Portland to Tacoma. 143 miles ; South Prairie branch. 10
N orth P en n sy lv an ia .—Owns from Philadelphia, Pa., to Bethle miles; Pasco to east portai of tunnel, 174 miles; Tacoma toW est
hem, Pa., 56 miles; branches—Jenkint’n to Dela. River, 20 miles; Lam nnrtal <f tunnel 78 miles; Switchback o ie r cascade Mountains, 7
dale to Doylestown, 10 miles; Iron Hill to Shimersville, 2 miles; total miles: Payallup Junction to Stuck Junction, 7 miles; Duluth to Supe
operated, 88 miles. The Northeast Penn, and the Stony Creek roads are rior, 7 miles; Spokane Falls & Idaho RR.. 14 miles ; Ciealum oal road,
operated under contract. In May, 1879, was leased to Phila. & Reading •j milft • total owned, ¿,*¿06 miles. Leased and controlled Bradiierd.
at t>@7 p. e. on stock till 1883, and 8 per cent thereafter.
to st Paul and branches, 151 miies; Little Palls <fe Dakota
83
N ortheastern (S. C .)—Owns from Charleston, S. C., to Florene* miles- Northern Pacific Fergus & Black Hills RR., 117 miles; Fargo &
S. C., 102 miles. Leased jointly, Lane, S. C., to Sumter. S.C.. 3« milei Southwestern RR.. 87 miles; San. Coop. & Turtle Mount. HR.. 3 miles;
Total operated, 140 miles. This company has earned the intereston it
Tamestown & Northern RR., 1"3 miles; Rooky Mount RR. of Montana,
bonds, with a good surplus. In Nov., 1882, the above consol, mortgage 52 miles; H elena* Jefferson Co RR., 20 miles; James River Vidley RK.»
was authorized, of which $1,142,000 to be held to retire debts of prioi -64 miles; Spokane & Palouse RR., 44 miles; Helena & R td Mountain.
Uen. In 1883-84 gross earnings were $569,470; net, $164,946; in 1884-5
INYESTOES’
SUPPLEMENT.
S e p t e m b e r , 1887.]
RAILROAD
STOCKS AND
83
BONDS.
Subscribers w i l l confer a great fa v or b y g iv in g im m e d ia te notice o f a n y error discovered in tbese T a b les.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
When D ue.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,
Stocks—Last
Par
of
For explanation of column headings, &o., see notes of
Outstanding Cent. Payable
Whom.
Value.
Dividend.
Bonds
Road.
on first page of tables.
Northern Central—(C o n t.)-2d. general M. “ B,” cp
138
Union RR., 1st mortgage (assumed)......................
do
2d mortgage (assumed).....................
26
Northern o f New Jersey—Stock....................... ............
21
1st mortgage, extended.........................................
21
2d mortgage,..............................................................
Northern Pacific—Tret. stock(8 p. c., not cum’tive). 2.807
Common stock............................................................ 2.807
1st Mort. and land grant bonds, Missouri D iv___ 205
225
1st Mort and land gr. bonds, Pend d’ Oreille Div.
Cons. 1st M. Id. g., gold, $25,000 p. m., cp. or reg. 2,134
AU
do
2d m., gold, land grant, coup. & reg.
Dividend cert, (part extended to Jan. 1,1907)....
*64
Jas. Riv. Yal. HR. 1st mort., gold, guar., s. f ........
44
Spokane & Palouse, 1st M., sink. fa., gold, guar ..
Duluth & Manitoba, 1st m o r t, sinking fund, gold 110
16
Helena & Red Mountain, 1st M., g., guar, by N. P.
17
HelenaBcul.Yal.& Butte—1st M. sink, fd., g., guar
Northern. Pae. Ter.Co.—1st M., g. ($5,000,000) cp..
'*79
Northwestern Ohio—Stock..........................................
66
Norwich A Worcester—Stock........................................
66
Bonds, coupon..... ......... .............................................
Ogdensbnrg A Lake Champlain—Stock, common . 130
Sinking fund bonds....................................................
Ï18
Mortgage ponds (redeemable July, 1890).............
Consolidated mortgage (for $3,500,000)............... 118
Income bonds, not cumulative.................................
6 Ïé
Ohio A Mississippi—Stock, common..........................
Preferred stock (7 p. o. yearly, cumulative)........
1st general mortgage (for $16,000,000)................. 6*24
393
1st consol’ dated mort. ($3,445,000 are s. f . ) ........
393
Consolidated mortgage, sterling.............................
J. & J.
J. & J.
6 g. M. & N.
4
J. & J.
J. & J.
6
1878
M. & S.
7
200.000
1869
37,786,199 lU iocert
49.00u.000
M. & N.
*6*
2,107,500
1879
M. & S.
6
2.956.000
1879
46,513,000
6 g . J. & J.
1881
20, 000,000
1883
6 g. A. & O
J. & J.
6
4,640,821
1883
963.000
J. & J.
1886
1,000
i g- M. <fe N.
688.000
1,000
1886
1.650.000
J. & J.
6
1,000
1886
400.000
1,000
1887
6 g. M. & S.
340.000
1,000
1887
6 g. M. & N.
3.000.
000 6 g. J. & J.
1,000
1883
2.000.
000
J. ’¿**J.
Too 2,604,400 " i *
M. & S.
6
400.000
1,000
1877
J. & J.
2
3.077.000
100
M. & S.
380.000
8
1,000
187*0
J. & J.
6
1,000
600.000
1877
A. & O.
6
2,529,650
1880 500 &c.
3 & 6 A & O.
999,750
1880 100 &c.
100 20,000,000
*3«* M.*&*S.
4.030.000
100
J. & D.
5
3.216.000
1,000
1882
J. & J.
1,000
6.501.000
1868
7
£200
112,000
6 g. J. & J.
1868
1876
$ 1,000
RR., 16 miles; Duluth & Manitoba RR.. 110 miles; total leased, 889
miles; total owned and leased, 3,093 miles. Thompson June., Minn., to
Duluth is owned jointly with the St. Paul & Duluth.
O rg an izatio n .—This company was chartered by act of Congress July
2,1864, to build from Lake Superior to Puget Sound and Portland, Or.
Ime land grant was 20 sections per mfie In States and 40 sections in
Territories. The road was opened 450 mUes west from Duluth—to Bis
marck, on the Missouri River—in 1873. The company defaulted Jan.,
1874, and the road was foreclosed August 12,1875, and reorganized by
the bondholders’ committee Sept. 29, 1875. New preferred stock was
Issued at the rate of $1.400 for each $1,000 bond and overdue interest.
Stocks and B onds .—The preferred stock has a preference for 8 per cent
in each year if earned, but Is not cumulative. The common stock then
takes 8 per cent, and after that both share alike. The pref. stock claim on
net income is subject to expenditures for new equipment. Pref. stock is
received in payment for company’s lands east of Missouri River at par,
and the proseeds of the lands sold go to the retirement of preferred stock.
A large interest in the stock ($5,683,000 pref. and $7,925,100 of
com. in April, 1886,) was held by the “ Ore. & Trans-Continental Co.”
In Jan., 1883, a dividend in certificates of 11710 Per cent, amounting
to $4,667,490. was paid on the pref. stock, these certificates fallinar due
Jan., 1888; but in June, 1887, the company offered to fund these into a
5-20 6 per cent debenture bond, due 1892-1907.
Prices of preferred stock since’79 have been: I n ’80, 393s® 671a: in
’ 81, 641s® 881e; in ’82, 66%®1003s; in ’8 3 ,493t®903s; iu ’84, 37J4®57«8:
in ’ 8 5 ,3612'®6538; in ’86,
in ’87 to Sept. 16, lncl., 47%®631*.
Common stock: I n ’80, 20®36; in ’81, 32^®51; in ’82. 28%®543a; in
’ 83 , 2318®53:18; in 84. 14®27; in ’8 5 ,15®31J4; i n ’86, 22®313s; in
’ 87 to Sept. 16, in c l, 241*®345sThe consol, first mortgage bonds are a first lien on the main line; and
on all the lands of the company except those subject to the two divisional
mortgages and those lands east of the Missouri River which are subject to
the preferred stock. The issue of bonds is limited to $25,000 per mile
The proceeds of land sales can be applied to the payment of interest on
bonds, instead of principal, if the earnings of the road are insufficient.
Central Trust Co. of N. Y. is trustee. The bonds are received in pay
ment for lands at 110 and interest, and proceeds of land sold must be
applied to redemption of these bonds at a price not exceeding 110 and
interest. Sinking fund of one per cent per annum of the total amoont
of bonds issued began in 1886. and the bonds may be drawn and called
in at 110, one-half in January and one half in July. The total
issue of the Missouri Division (Bismarck on Mo. Riv. to Yellowstone
Riv. 205 miles) and Pend d’Oreille Division (Junction of Snake and
Columbia rivers to Lake Pend d’Oreille 225 miles) bonds was $6,480,300, against which are reserved a like amount of the Northern
Pacific first mortgage bonds; the proceeds of land sales are applied to
redemption of these divisional bonds at par. June 30, 1887, there was
$334,189 cash in the sinking fund.
The James River Valley bonds are on the road from Jamestown, Dak.,
to La Moure, 49 miles; It is leased to Northern Pacific for 999 years, and
the bonds are guaranteed. The bonds are redeemable at 105 after 1896.
The Spokane & Palouse RR. extends from Marshall on the main line to
Belmont., 43 miles. It is leased to the N. P. for 999 years, the N. P. pay
ing the interest and sinking fund requirements as rental The bonds are
issued at $16,000 per mile, and are redeemable at 105 after 1896.
The Duluth & Manitoba road, Winnipeg Junction, Minn., to E. Grand
Forks, 110 miles, is leased, with guaranteed rental to pay interest, and
sinking fund beginning June 1, 1897, sufficient to redeem the prin
cipal by maturity; bonds drawn at 105.
Helena & Red Mt. 1st mort. bonds and Helena Boulder Valley Butte
1st niorr. bonds are guaranteed by Nor. Pacific and redeemable, the for
mer after March, 1897, and the latter after May,31897, by sinking fund
drawings at 105.
Other roads leased .and guaranteed sufficient earnings to pay interest,
are named under Oregon Trans-Continental.
L ands .—The land grant of the company was 12,800 acres per mile in
States and 25,600 acres per mile in territories, and the lands earned by
construction to June 30,1887, were estimated to be about 46,758,400
acres, of which about 40,618,921 remained unsold. The lands
east of Bismarck (Minn, and Dak. Divs.) are pledged to the pre
ferred stock, and that stock is received in payment therefor. The
genera] mortgage bonds cover all the other lands, the divisional mort
gages having prior liens on their respective divisions. For the fiscal
year 1886-7 land sales were 310,355 acres for $1,052,796, including
town lots.
From July 1 to July 31, in 1887 (one month), gross earnings were
$1,202,576, against $1,100,025 in 1886; net, $545,718, against ®_534,526. The fiscal year ends June 30. The annual report for 1886-7 was
published in V. 45, p. 192, 368, 370, and had the following:
1884-85.
1885-86.
1886-87.
Miles oper’d June 30...........
2,668
2,808
3>093
Passenger*””
Mail, express, & c .....................
3,075,882
7,446,266
712,001
2,897,218
8 ,i8 9 ,e i4
643,695
O perating expenses and taxes.
Net earnings...............................
P erct. of oper. exp. to earns..
11,234,149
6,196,301
5,037,848
55-16.
11,730,527
6,156,264
5,574,263
52-48.
......................
$ 1,000,000
500 &c.
500 &c.
lo o
100 &c.
100 &c.
100
100
500 &c.
1,000
1,000&C
l.OOO&o
500 &c.
900.000
600.000
1,000,000
138.000
Net earnings..............................
Adjustm’t of acc’ts & int. bal.
Dividends on investm ents....
General interest account.........
Total....................................
Disbursements—
Interest on funded debt.........
Rentals......................................
Guarantee to branch roads
Contributions to sinkingfund.
Miscellaneous............................
Baltimore.
do
N.Y., London <&Balfre.
New York Office.
J. City, Hudson Co. B’k.
do
do
Jan. 1, 1926
Jan. 1, 1895
May 1, 1900
In 1886
July, 1888
March, 1889
Jan. 15, 1883
Deo. 1,1933
N. Y Mills BuUding. May 1, 1919
Sept. 1, 1919
do
do
Jan. 1, 1921
do
Deo. 1,1933
do
188b & 1907
do
Jan. 1, 1936
do
Mav 1, 1936
do
July 1, 1936
do
March 1,1937
May 1, 1937
do
N.Y., Winslow, L. & Co. Jan. 1, 1933
Boston, 2d National Bk. July 10, 1887
Boston, N. E. Trust Co. M archi, 1897
Boston, Office,
July 10,1876
do
Mar., 1890
do
1897
do
prU 1,1920
do
April, 1920
N. Y., Union Trust Co.
do
do
do
do
London.
0MB ACCOUNT.
1884-85.
$
5,037,848
24,553
147,359
21,310
1885-86.
$
5,574,263
19,938
243,319
52,578
Mar.
June
Jan.
Jan.
1,
1,
1,
1,
1876
1932
1898-—1898
1886-87
$
5,616,427
12,938
374,549
86,879
5,231,070
5,890,098
6,090,793
4,123,949
581,144
352,154
50.376
27,341
4,339,094
670,748
673,650
55,633
39,774
4,456,536
752,757
696,650
112,698
6,445
5,778,899
5,139,111
6,025,086
111,199
65,707
91,959
Balance, surplus............... j
-(V . 43, p. 4, 23, 4 9 ,13 2 ,1 4 5 ,16 2 , 256, 275, 33 3 , 3 3 5 , 379, 399, 400r
431, 5 :6 , 548, 672, 766; V. 44, p. 60, 90, 149, 162, 185, 212, 309, 434,
540, 551, 701, 713, 752, 782, 908 : V. 45, p. 26, 55, 166, 192, 203, 211,
264, 272, 341, 3 6 8 , 369, 3 7 0 , 373.)
N orthern Pacific T e r m in a l Co.—This company owns terminal
facilities on the Willamette River, Oregon, at Portland, East Portland
and Albina. They are leased for fifty years, jointly and severally, t o
the Northern Pacific RR., the Oregon Railway & Navigation Co. ana the
Oregon & California RR., with a guaranteed rental sufficient to pay
interest, sinking fund and taxes. The sinking fund begins in 1893 ana
is to be sufficient to retire the bonds by maturity, which bonds may be
drawn at 110 and interest. The stock of $3,000,000 is owned by said
three companies (40 per cent by Ore. Railway & Navigation Co., 40 per
cent by Northern Pacific and 20 per cent by Oregon & California RR.),
and held by Central Trust Co. of New York, to be delivered after pay
ments to the sinking fund which is to cancel the bonds.
N orth w estern O h io.—Owns from Toledo Junction to Toledo, O.,
80 miles, and leases 7 miles, from Mansfield to Toledo Junotion. This
was a consolidation of the Toledo Tiffin & Eastern, the Mansfield Coldwater & Lake Michigan and the Toledo & Woodville roads. Leased to
Pennsylvania Company at cost of operating. In 1886 gross earnings
$295,942; net, $72,469. In 1885 gross earnings, $269,510; net, $75,067.
N orw ich Sc W o rce ste r.—Owns from Norwich, Conn., to Wor
cester, Mass., 59 miles; branch: Norwich to Allyn’s Point, 7 miles;
total, 66 miles. Operated under temporary lease by N. Y. & New Eng
land Railroad. In February, 1885, it was voted to reduce the rental
to 8 per cent. In the fiscal year ending Sept. 30,1886, the gross receipts
were $748,659; net, $274,377; payments for rentals, $40,475; interest
$24,157; dividends, $207,824; surplus, $21,921. (V. 43, p. 607.)
O gdensbnrg Sc L a k e C h am p lain .—Owns from Rouse’s Point,
N. Y., to Ogdensburg, N. Y., and branch to Maquam, Vt., 130 miles.
On June 1, 1886, a perpetual lease of this road was made to the Central
Vermont RR. Co., the lessee to pay interest on the bonds.
Gross earnings 1885-6. $562,772; net. $223,445; surp. over int. charge,
$12,362. In 1886-7, gross earnings $683,213; net, $229,200. (V. 43, p.
2 2 , 580. 719; V. 44, p. 212, 714, 808; V. 45, p. 272.)
O hio Sc M ississip p i.—(See Map o f Baltimore A Ohio.)-O w n s from
Cincinnati, Ohio, to East 8t, Louis, 111.. 338 miles; Louisville branoh,'
North Vernon to Jeffersonville, Ind., 53 miles; total Ohio & Miss, line,
391 m ile s ; the Springfield Division, Beardstown to Shawneetown, HI.,
225 miles; total operated, 616 miles. The Eastern and Western divis
ions were sold in foreclosure and the Ohio & Mississippi Co. formed b y
consolidation Nov. 21,1867. The terms of preference in the preferred
stock certificates read as follow s:
“ The preferred stock is to be and remain a first claim upon the pro
perty of the corporation, afrer its indebtedness, and the holder thereof
shall be entitled to receive from the net earnings of the company 7 per
cent per annum, payable semi-annually, and to have such interest paid
in full for each and every year before any payment of dividend upon /
the common stock; and whenever the net earnings ”
*
*
*
*h
“ shall be more than sufficient to pay both said interest of 7 per cent on [j
the preferred stock in full, and 7 per cent dividend upon the common^
stock for tbe year in which said net earnings are so applied,” then tho ,
excess shall be divided equally, &c.
. . .
On Nov. 17,1876, the company was placed in the hands of a receiver.
The receiver was discharged in April, 1884.
The report for year ending June 30,1886 (V. 48, p. 514), showed:
1885-6.
1884-5.
$3,671,920
Total gross earnings.................................... $3,645,467
2,597,708
Operating expenses...................
2,670,736
3,269,703
8,730.547 Net earnings.................................................
$974,731
789,197
Disbursements—
_
i ___
Interest on debt.........................................
$1,024,900
12,789,447 Sinkingfund..................................................
49,000
7,173,020
T o ta l............. ...................
$1,073,900
5,616,427
$99,169
56-09 D eficit......................................................... —
$1,074,212
$1,026,415
53, « 0 0
$1,079/4-5
$5,203
MAP OP THE
OHIO RIV E R
RAILROAD
ftìirard
''Fayette
Painesvült
Toleç
Line V.,
AND CONNECTIONS.
¿Emporium
t\vood
f .Marten j
.¿boro .
J " ia1 ê
V
-ock Haven
Denver
ENTESTOKS’
/Marion
g^ankfort\
ïartfordF
^yellsburg
vfordsviU?
Roa(
^
j
H à i^ s F e ^ ^
LaWre^
4
« all' Po !
V A
P
xV \
^
.o. “”
. - ’ /Xk
^Ruc
.o.
^
B uckhannpn
/ili»*—
r
Glenville
/ heading Cr,
*^ 7/«
y
^
'
t!Z*
&
Puntington
\
Webster C..H. o
f!
/
New Albany
S > .„ $
J
* / WaiTenton^
.
\
Harrisonburg
^
o
^
¿fCuipepper
ay Fredericksburg
V
/*
äockport/
4\A soJ
a s h M¡o T
IJ
S .j-J
bGrange
l<^ wL
l
0Suttons
*
/'tliv/nUm
t
nouth.
'.Sterling1'
/
y 6 s>»'ph-
Junction
æfiff
Vo.
Hintorul
,
^onV ^^I
„•/
Strasburg
$•
'
y A ^ Ç e d e r ic k î
RlCHi
i F».,
'¿kSy
3
«
SUPPLEMENT
Martins V .\ / i J
V
Gree®fioiA
September , 1867.J
RAILROAD
STOCKS AN D
BONDS.
8&
aSubscriber« w ill eonfer a great favor by g iv in g Im m ediate notice o f a n y error discovered in tbese T ables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, Wlien Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stock»—Last
Par Outstanding
of
For explanation of column headings, &c., see notes of
Whom.
Payable
Dividend.
Cent.
Road. Bonds Value.
on first page of tables.
Ohio A Miss.—(Con’d )-2 d eons. sink. fund. m ort...
Sprintr. Div. (Sp.&Hl. S.E.) IstM . (for $3,000.000
Ohio A Northwestern—1st mort., $12,000 per mile..
2d mort., $7,000 per mile.......... ...............................
Ohio River—1st mort., g o ld ................ - .....................
General mortgage................................ ....................
Ohio Southern—1st mort. ($15,000 per mile)............
2d mort., income ($15,000 per mile).......................
0 '.d Colony—Stock.............................-.............. - - ........
Bonds (not mortgage) coupon and registered.......
Bonds
do
do
do
.......
Bonds
do
do
do
.......
Bonds
do
do
do
.......
Bonds
do
do
do
.......
Bonds for Framingham & Lowell b on d s...............
Bonds of 1884............................................................
Bost. Clin. F.& N. B., mortgage bonds 1869-70...
do
bonds.......................................
do
mortgage bonds.....................
Omaha A St. Louis—1st M., gold, coup., may be reg.
Orange Belt—1st mort., gold, $5,000 per mile . . . . . .
Oregon at California—1st M.,gold ($20,00o p.m.) ..
2d mortgage, $10,000 per mile................-..............
Oregon Pacific—1st mort., land grant, gold.............
Oregon Railway A Navigation—Stock......................
Mortgage bonds, gold............1.............. - ............... .
Consol, mortgage, gold, $25,000 per m ile............
OregonShorlL.—lst,gld.,int.gu.byU.P.($25,000p.m)
OregonA Trans-Continental—St’ok(for $50,000,000)
Trust bonds, gold (IstM. collateral) $20,000 p.m..
Oswego A Rome—1st mortgage guaranteed.............
Income mortgage bonds..........................................
Convertible bonds ....................................... - ...........
$1,000 $3,715,000
2.009.000
1,000
950, 00
1,000
512.000
1,000
2,000,000
1,000
169
1.030.000
1,000
209
2.100.000
1,000
132
2,100,000
1,000
132
469
100 11,157,200
1.692.000
1,000
1874
500.000
1,000
1875
1.100.000
1,000
1876
2,000,000
1,000
1877
200.000
1,000
1882
498.000
1,000
1884
750.000
1.000
1884
491,500
43 ’ 69-’70 500 &c.
400.000
1,000
58 1874
1.970.000
1,000
120 1880
2.717.000
1,000
144 1887
34 1887
1,000
9.020.000
ì.o o o
451 1881
2.H10.0U0
1,000
451 1883
1.000 25.000 p.m.
1880
000
100 24.000.
706
5.690.000
1,000
1879
9.155.000
1,000
706 1885
1,000 14,9 <1,000
610 1882
000
100 40.000.
1,000 10.063.000
497 1882
350.000
1,000
28^ 1865
152.000
1,000
1866
107.000
1866
393
222
103
1871
1874
1886
1886
1836
1887
1881
1881
The new general mortgage for $16,000,000 was authorized under
the plan o f reorganization, by which $12,784,000 was reserved
to exchange for old bonds as they mature; $2,216,000 used in
paying overdue coupons and all other claims; and $999,695 expended
for new equipment and terminal facilities.
From Jan. i to July 31,1887 (7 mo.«.) gross earnings were $2,214,016,
against $2,066,151 in 1881; net, $712,606, agst $5 <4,920.—(V. 43, p. 73,
162, 275, 36s, 459,487, 5 1 4 , 548; V 44, p. 6", 185, 309; V. 45, p. 113).
O b i» & N orth w estern .—Road from Cincinaati, O., to Portsmouth,
O., 103 miles, and branches 20 miles, and 71 miles more under construc
tion. The Cin. & Eastern, soldin foreclosure Jan. 5,1887, was purchased
by this company.—V. 44, p. 59. The authorized 1st mortgage bonds are
$2,000,000 at $12,( 00 per mile, and seconds $1,200,000 at $7,<iu0 per
mile. Stock authorized, $1,000,000; issued, $2,000,000. (V. 44, p. 4 2 1.)
Ohio R iv e r .—(See Hap.)—Road extends from Wheeling, West Va ,
to Point Pleasant, West Va., 169 miles, and in progress to Huntington,
West Va., 40 miles. The stock outstanding is $3,29<>,700. The out
standing bonded debt Is equal to $16,3 8 per mile, of which $11,834 is
1st moi t. and $4 924 general inort.,the annual int. charges being $815 4n
per mile. In 1886 earnings on 90 miles were $197,970 gross and
$33,782 net, or $9 31 per mile. The road was completed to Point Pleasant
Jan. 8, 18 «7, but was not fully opened forbudnessuntilM arch27.1887.
A comparative statement furnished by the company of the earnings for
5 months from April 1 to August31—for 1886 and 1387—is as follow s:—
1886.
'
J837.
Inc. over ’86.
90
169
87 7-10p .r cent.
Miles o p e r a te d ...............
Gross earnings....................$84,620
$156,962
85
percent.
Operating expenses............ 5 1,166
75,968
48
percent.
Net earnings ..................... $33,454
$80,994
142
per cent.
........
Interest on 1st m ortgage.........................$41,667
Interest on general mortgage................ . 21,458
Total interest........................................$63,125
Surplus............................... ........................ $17,8*<9
Geo. W. Thompson, President, Parkersburg, W. Va. (V. 44, p. 434.)
O hio Sou th ern .—The road will extend from Springfield, Ohio,
to some point on the Ohio River. Length of road completed and in
operation Dec., 1886, Springfield, Ohio, to Wellston, with extensions
and branches, 148 miles. Stock (par $100), $3,840,000. Gross earn
ings in 1886, $514,189; net, $174,987; interest paid, $128,979.
Gross -in 1885, $468,558, net, $173,182; interest on debt, $126,377;
surplus for year. $46,622, Alfred Sully. President.
O ld C olony (M a ss.)—Owns from Boston to Provincetown, Mass.,
120 miles ana lines to Kingston, Plymouth, Somerset Junction, New
Bedford, Lowell and Fitchburg, Mass., and to Newport, R. L; total,
869 miles; numerous branches. 85 miles in all; leased—Fall River
Railroaa, 12 miles; Dorchester & Milton Railroad, 3 miles; total
length of all lines, 469 miles. Fall River Railroad was leased April
1,1882, for 99 years. In March, 1883, consolidât on with the Boston
Cainton Fitchburg & New Bedford was made and an increase of stock to
$12,000,000 was voted. In May, 1884, the Lowell & Framingham was
absorbed on the terms given in V. 33, p. 540, and the 4 1a per cent bonds
of 1884 were issued. The annual report for 1885-86 was in V. 43, p.
546, and had the following:
INCOME ACCOUNT
1882-83.
1883-84.
1884-85.
1885-86.
$
$
$
$
4,249,179
4,191,872
4,251,186 4.528,032
1,228,441
1,296,503
1,281,056 1,302,929
74,676
68,998
79,334
89,931
1,303,117 1,365,501
1,360,390
1,392,860
$
$
$
$
191,001
46,614
45,594
32.694
446,476
556,866
551,424
582,53 r
603,006
723,989
738,122
761.747
7
7
7
7
57,634
38,032
25,250
15,885
1,303,117 1,365,501
1,360,690
1,392,860
Gross earnings........
Net earnings........
Other receipts.... ..
Total in com e....
Disbursement»—
Rentals paid............
Interest on d e b t.....
Dividends.................
Rate of dividend . . .
Improvem’t account
Tota disburse’ts
—(V. 4 3 ,p. 546.)
O m a h a 4c St. L o u is .—Owns road from Council Bluffs, la., to Pattonsburg, Mo., 14< miles. This company was formed in 1837 ap successor to ihe
Omaha Division of the St. Louis K. C. & Nor. (Wabashi, sold in foreclosure.
The old mort. bonds took new 4 per cents and nref. and com. stock, as
per V. 44, p. 713. Pref. 6 per cent stock, non-oumulative, $2,220.500;
com. stock, $2,316,000, deposited in trust for three years. See ab
stract of mortgage, V. 45, p. 213: full ststement in V. 44. p. 812.
Office, 49 Wall Street, N. Y. In 1886-87 gross earnings were $794,931;
net $169,451 (V. 44, p. 713, 808,809, 8 IS, Vol. 45, p. 213.)
O r a n g s B e l* ,—(Nee Map)—From Monroe, on the Jacksonville Tam
pa & K. W. road, to Oakland, on Lake Apopka, 34 miles, and extension
m rapid pi ogress to Pome Pinellas on the Gulf. The bonds are 5*2os,
and may be r deemed after Jan., 1892. Taey are guaranteed bv the
Orange B «It Investment Go., and are issued at $ >,000 per mile. Bon is
offered in New York by Griswold & Gillette in 1887, whose circular
stated th a t: “ This road passes througu the most fertile lands of The
State of Florida, and the most thrifty orange belt of the State. It is
doing a very satisfactory business, a id earning more than the interest
on its bonded debt. These bonds are a first and only lieu oa the road
and equipment, and in addition are guaranteed principal and interest
by the Orange Belt Investment Company, which owns large mills at
Longwood that are earning over $40,000 a year net.”
7
7
6
5
5 g.
5 g6
6
3ifi
7
6
6
6
4^
4i2
4
7
7
5
4= g.
6 g?* •
6 g.
1*2
6 g.
5 g.
6
1*2
6 g.
7
7
7
A. & O.
M. & N.
J. & J.
A. & O.
J. & D.
A. & O.
J. & D.
J. & D.
J. & J.
M. & S.
J. & D.
M. & 8.
F. & A.
J. & D.
J. '& J.
J. & D.
J. & J.
J. & J
J. & J.
J. & J.
A. & O.
A. & 0.
Q .-F .
J. & J.
J. & D.
F. & A.
Q.—J.
M. & N.
M. & N.
F. & A.
April, 1911
Nov. 1, 190 &
July 1, 1933
April 1, 1923
June 1, 1933
April 1, 1937
June 1, 1921
June 1, 1921
Juiy 1, 1887"
March 1,1894
June 1.1895
Sept. 1, 1893
Aug. 1. 1897"
Deo. 1, 1897
1904
1904
1889 & ’90
July 1, 1894
Jan. 1,1910
Jan. 1, 1937'
Jan. 1, 1907
July 1, 1921
April 1, 1933
Oct. 1, 1900«
July 1, 1887
July 1, 1909
June 1,1925
Feb. 1, 1922:
Oct. 15, 1883
N.Y.,Farmers’ L.& T.Co. May 1, 1922
N. Y., Farmers’ L»&T.Co : May, 1915
N. Y., Central 'Trust Co- Aug., 1891
28«6
N. Y. Union Trust Co.
do
do
N. Y., Meroa’ le Trust Co.
Cincinnati, O.
N. Y. Central Trust Co.
do
do
N.Y., Corbin Bank’gCo.
do
Boston, Office,
do
do
do
do
do
do
do
do
do
Boston, N. E. Trust Co.
New York.
N.Y. .Farmers’ L. <feT.Co.
Last paid June, 1884.
Last paid Oct., 1884.
New York and’ London.
New York.Office,
do
do
do
do
N. Y. Union Trust Co.
Oregon & C alifo rn ia.—From Portland, Or., to Ashland, 341
allies; Albany J unction to Lebanon, 12 miles; West Side Division, Port
land to Corvallis, 97 miles. Total finished, 451 miles; to be completed
co a junction with Central Pacific at the California State line. The
original Oregon & California was in default after 1873 and reorganized.
The and grant is about 4.000,000 acres.
In January, 1887. a modified plau of agreement for reorganization,
with the Central Pacific was reported, of which the terms were given in .
the C h ronicle , V. 44, p. 118, 370.
Gross earnings In 1886 were $971,792; net $221,184; other receipts,.
$i6,177; deficit under interest, sinking fund, etc., $368,574. (V. 44, p..
118, 370, 654.)
«Oregon P acific.—Road in progress and 83 miles, from Albany toYaquina, on Yaquina Bay. completed. Land grant, over 900,000 acres,
and covered by first mortgage. In June, 1837, a syndicate was reported,
as having taken the balance o f first mort. bonds to complete the road.
Stock is $30.000 per mile. T. E. Hogg, President, Corva lis, Oregon.
N. Y. Office, 45 William Street. (V. 44, p. 752.)
Oregon R a ilw a y & N avigation .—July 1,1886. railroads oper
ated were as follow s: Portland to Riparia, 3 0 1miles; Bolles Junction to>ayton, 13 miles; Pataha June, to Pomeroy, 3 >miles; Walla Walla toBlue Mountain, 2 0 miles; Pendleton to Ceutreville, 17 m il-s; Patouso
J motion to Colfax, 39 miles; Colfax to Mos io w , 23 miles; Umatilla toHuntington, 217 miles; total, 715 miles. Ocean line between San Fran
cisco and Portland, 670 miles; Paget Sound lines, 275 miles; River
lines, 363 miles, tor.pl or water lines. 1,308 m les.
In June, 1835, the consol mortg. was m ide at the rate of $25,000 per"
mile and 1*6,000.000 reserved to take up the old mort. bonds There 1»
a sinking fund of over $60,000 per year, and if the trustees cannot buybonds at 110 they must draw them at par each year. The Farmers’ Loan
& Trust Co. is the trustee.
In March, 1881, a majority of the stock was sold to the Oregon TransCon inental Company, which holds yet about 119,0 )0 shares.
In Anril.. 1887, a iease to the Oregon Short Line R l , guaranteed bjr
Union "Pacific, was made on the basis, as reported, of 6 par, cent per
an mm on the O. R. & N. Co.’s stock. An exhaustive report on the O. R .
& Nav. Co. was oublished in the C hronicle , V. 44, p. 141.
FromJuly 1 to August i, in 1837 (L mo ) gross earnings were $409,374^.
against$4¿1.881 in 1836; net, $i96.9 -5, agaius $173,708.
The annual report for the year ending June 30, i886, was lu the
C hronicle , V. 43. p .5 9 4 ,6 0 6
The income account showed net sur
plus of $41,979 over charges and h1^ per em t divi lends.
—(V. 43, p. 132, 191, 238, 399, 459. 51 594, 6 0 6 . «03. 635, 672, 719;
V. 44, p. 60, 91. 141, 204, 212, 276, 309, 392, 434, 463, 551, 621, 7 5 2 1
7. '5, p‘. 84,211.
.•
„ _
O r e g o n S h o r t L in e .—Road from Granger on the Union Pacific
(156 miles east of Ogden) to a junction with the railroad of the Oregon
Railway & Navigation Co., at Huntington, Oregon, 541 miles, with Wood
River branch to Ketchum, 70 miles. Total, 610 miles. Interest on thebonds is guaranteed by t ie Union Pacific. The stock is $1 »,073,600.
Union Pacific owns a majority of the stock and $2,195,000 bonds. This
company, in April, 188/, leased the Oregon R til way & Nav. Co.’ s lines
for 99 years, agreeing to pay the interest on bonds and 6 per cent o a
stock; the lease being guaranteed by Union Pacific.
Gross earnings in 1886, $1,942, L07; net, $594,686; taxes, «fee., $87,310; balance, $507,376. For 1885 gross earnings were $1,833,190; net,
$557,959. (V- 43, p. 103,217, 368,516, 635,774; V. 44, p. 149,185, 30?.>
Oregon & T ran s-C on tin e n ta l.—Company organized under the
laws of Oregon on June 27,1881, and received from the “ Villard Pool”’
an assignment of the stock of the North. Pao. Railroad purchased by it.
The assets on Jan. 10, 1887, varied ouly slightly from those given m
the Chronicle of May 29,1836 (V. 42, p. 664). which included 139.412
shares of O. R. & Nav. Co. (reduoed by 20,000 shares sold Aug. ’ 87>„
53,830 of N. Pae. pref. and 79,251 of N. Pao. common. In Dec., 1885,
the company arranged a new loan for $4,050,000, at 5 per cent, for
three years, secured by collaterals. The balance of the unfunded debt,
amounting to some $3,573,000, wa< carried on demand and short loans.
(See financial report in V. 43, p. 162.)
In August 1887, the company sold $2.000.000 (20,000) shares, as rep >rted. of O. R. & Nav. s ock , and negot a ted also $3.000.009 of the
oonds of that co npany walch it had carried. (See V. 45, p. 305.)
Total authorized capital is $50,000.000. The bonds may be redeemed!
at 105; they are secured by deposit in trust of first mortg. boudson
new branch railroads, at $20,000 per mile; also secured by traffic con
tracts with the Northern Pacific RR. Co. guaranteeing a minimum net
annual income of $1,400 per mile, being equal to 6 per <enC per an
num on $20.000 per mile of bonded indebtedness, and a sinking f ana
charge of one per cent. The roads thus mortgaged are: The No. Paci
fic Fergus & Black Hills RR. of Minn., 117 miles. $2,312,000; Little
Falls <&Dakota RR., of Minn., 33 m., $1.757,000: Jamestown & North
ern RR. of Dakota, 102 in.. $2.050,000; F a rg o * Southwestern RR. n
Dakota, 87 m . $1.748,000; Sanborn Cooperstown * Turtle Mountain
RR., 37 in., $730,000; Rooky Mountain RR. Montana, 52 i».,$ .034,0 *0; Helena & Jefferson Oounty, -0 in., $102.000: tot »1.501 miles —
at $.'0,000 per mile—$10,063,000 in bonds. (V. 43, p. 162: V. 44 p. 118 s
V. 45. p. 272.305....
„ ‘
O sw ego & R o m e ,—«Owns from Riohland, N. Y.. to Oswego, N. Y.,
29 miles. R -ad opened Jan. 1, 1886. Ic is leased to the Rome Watertown & Ogdensburg RR. at 8 per cent on its stock ($ ¡75,000 com. and
$75,000 pref.) and 7 per cent, on guar, b inds, p -ef. stock being repre1seuted by conv. bonds. $62,100 of bonds due 1870 are yet outstandiags.
$ 6
INTESTORS’
SUPPLEMENTI
[Vol. x l v .
September , 1887. J
JRAILROAD STOCKS AND
87
BONDS.
Subscribers w i l l con fer a great fa v or b y g iv in g Im m ed iate n otice o f an y error discovered In these T a b les.
Bonds—Princi
INTEREST OR DIVIDEND.
DESCRIPTION.
pal,When D ue.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
or explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
35
Oewego A Syracuse—Stock, 9 per cent guar.............
Consol, mortgage (guar. D. L. & W .).. . . . . . . . . . . . .
Constructional., guar. prin. & int. (for $1 ,000,000)
123
Owensboro A Nashville—1st mortgage, gold.............
84
Collateral trust (4o0,000.).......................................
48
Panama —Stock......................... - ---..................
48
General mortgage, sterling, (£697,800;................
48
Sinking fund subsidy, gold................. - - - - .............
Paris A D ecatur-See Terre Haute & P e n a ............
15
Paterson A Hudson—Stock..........................................
Pennsylvania—Stock..................... . - - -............- -■:••• 2,322
Ger.. M., Pb. to Pitts., coup., J. A J-5 reg., A. A O .
State lien (pay’biein annual Inst lm tsof $460,000)
Consol. M., coup. J. & D., & reg. Q.—M. is. f. 1 p. c.)
Consol, mortgage, gold.......... ........................
Bonds, reg. (P.W. & B. stock deposited as collat 1) 571
Collateral trust loan (gold, coup., may be reg.). . . .
Car Trust certs, (in series payable Moth yearly) .
Navy Yard bonds reg. (extended 20 years in 81)
3,317
Pennsylvania Company—Stock.. . . - - .........- - •
Reg. bonds, secured by P. Ft.W.& C. special stock
Bonds, gold, secured by pledge and guarantee—
105
Pennsylvania A New York—1st mort., guar.............
1st mortgage, guaranteed-. — - -- -- - - .................... 195
Pennsylvania Schuylkill Valley—Stock.................... 142
1 12
1st mortgage bonds, registered........ . . . . . . . . . . . . .
Pensacola A Atlantic-1 s t m. g, (guar, by L. & N.).. All.
47
Peoria A Bureau Valley—Stock..................................
254
Peoria Decatur A Evansville—Stock................... .
I1
Jst mort., gold (Pekin to Mattoon)............... - .........
y (s,
1st mortgage (Evansv. D iv.).................................
P. D. & E. 2d mortgage, gold..................................
—
Car Trusts (payable $48,000 por annum...............
1876
1883
1881
1883
$50
1,000
1867
1880
1,000
5,000
100
£200
1,000
1870
50
1,000
1873
1879
1881
1883
1875
1877
1881
1866
1866
1883
1881
1880
1880
1886
1.000
1,000
1,000
1,000
1,000
50
1,000
1,000
1,000
1,000
50
1,000
1,000
100
1,000
1,000
....
O sw ego A Syracuse. -Owns from Oswego, N. Y., to Syracuse,
H. Y., 35 miles, ¿eased in 1868 to the Delaware Lack. & West. RR. Co.
or 9 per cent per year on stock and interest on bonds.
O w ensboro A N a s h v ille .- Ownsifromi Owensboro, K v..to Adairville Ky 84 miles. Controlled in 1879 by tbe Nashville Chattanooga
A St. Louis, and now operated by Louis. & Nash. RR., which owns a
minority of the stock. The $2,000,000 1st M. bonds are pledged for the
collateral trust bonds. Gross earnings for 1884-85, $165,437; net,
*37,580. Gross in 1883-6, $169,376; net, $35,678; defioltunder interest
and taxes, $15,498. Stock is $1,156,517.
P a n a m a .—Owns from Aspinwall to Panama, 48 miles. Opened
through Jan.28,1855. Of the general mortg. bonds $500,000 fall due in
five half-yearly payments beginning April, 1887, and balance in Oct.,
1897. The $2,687,000 subsidy bonds are secured by a pledge of the
sum of $225,000 annual subsidy payable to theU. S. of Colombia by
tbe company. In June, 1881, most of tbe stock was sold to par ties
interested in the De Lesseps Panama Canal Co. The report for 1886 was
in C h r o n i c l e , V. 44, p. 465, showing net income of $645,360, and a
surplus of $118,581 over charges. (V. 44, p. 212, 4 65.)
P aterson A H u d so n .—Owns from Jersey City, N. J., to Pater
son, N. J., 15 miles. The road was opened in 1834. and leased
In perpetuity September 9,1852, to the New York & Erie, at a rental of
$48,400 per year, and is operated by the New York Lake Erie & Western
as part of its main line. J. S. Rogers, President, New York City.
P e n n s y l v a n i a . — (Nee Map)—L i n e op R oad —The Pennsylvania sys
tem embraces about 5,639 miles of railroad, including all east and west
of Pittsburg, At the close of 1886 the mileage operated east of Pitts
burg & Erie, on which earnings as reported were based, was divided as
follows: Pennsylvania Division and branches, 1,568; Philadelphia &
Erie Division, 287; United Railroads of N. J. and branches, 466; total
operated, New York to Pittsburg, with branches, 2,322.
_ _
O r g a n i z a t i o n , L e a s e s , &c.—The charter of the Pennsylvania Rail
road was dated April 13,1846, for a line from Harrisburg to Pittsburg.
The line from Harrisburg to Philadelphia was under other organizations,
including the State Railroad, and the Harrisburg Portsmouth Mt. Joy &
Lancaster is still operated under a lease though forming part of the
main line. Road opened in 1854. The great number of leases, both east
and west of Pittsburg, were made for the most part under the adminis
trations of J. Edgar Thomson and Thos. A. Scott iu the few years preced
ing 1873. The terms of the leases will be found under the names of the
respective leased roads.
|,
•L*
The Pennsylvania Company was organized in 1870 as an auxiliary
corporation to control all the lines west of Pittsburg & Erie, and the
Pennsylvania RR. Co. holds all the stock of the Pennsylvania Company.
Stock and B onds.—The Pennsylvania Railroad stock has been in
creased from time to time, chiefly by the sale of stock at par to stock
holders, for the purpose of raising capital for new acquisitions or better
ments. The dividends paid each year since 1870 have been—in 1871,
1872,1873 and 1874, 10 per cent each yea r; in 1875 and 1876, 8 per
cent each year; in 1877, 4 ; in 1878, 2 ; in 1879,4 1a; in 1880, 6 and 1
per cent in scrip; in 1881, 8 ; in 1882, 8Hs; in 1883» SM; in 1884, 7 ;
m 1885 and in 1886,
in ’84) 4934@61; in '85', 45^®56is’; in ’86, SIMOOM; in ’87 to Sept
16, in c l, 54®60.
. ■
. ..
In March, 1881, the company purchased 217,819 shares of the Phila
Wilm.& Balt RR., and the 4 per cent bonds secured by Pi W. & B. stock
are purchased yearly at not over par with the surplus proceeds of Ph
W. & B. dividends and not needed for the payment of interest.
The collateral trust loan of 1883 is secured by the deposit of mortgage
bonds of subsidiary lines to the par value of $12,500,000.
O p e r a t i o n s , F i n a n c e s . <&c.—The total cost to the Pennsylvania Rail
road Co. of the stocks and bonds of other companies held in its treasury
was, up to Deo. 31,1886, $104,261,013 (par value of the same $137,371,026, most of which is represented on the other side of the balance
sheet by issues of Penn. Railroad stock and bonds and other debit items,
the balance to credit of “ profit and loss” was $15,625,348.
A scheme to buy up the company’s guaranteed securities with 1 per
cent of the net Income per year is in operation, and he entire amount
paid by the company into the Trust up to the end of 1880 was $3,828,517. There had been purchased for the fund securities o. the par
value of $5,135,150. which yielded an interest of 6 83 per cent per
annum unon uie purchase price.
From Jan. 1 to July 31, 18 h7 (7 mos.), gross earnings on lines east of
Pittsburg andErie were $31,025,094, against $27,«06,841 in 1886; net.
$10,457,921, against $9,250,252 in 1886. Surplus on lines west of
Pittsburg and Erie, $497,492 in 1837, against deficit of $252,415 in 86.
The report fo r 1 8 8 6 , was in the Chronicle , Y. 44, pp. 307 and 312.
A summary o f the total business o f 1886, compared with previous
years, is shown in the follow ing :
$1,320,400
438.000
668.000
(Pledged)
260,000
7,000,000
3.489.000
2,687,000
4ig
7
5
6 *
6 g.
2
7 g.
6 g.
630,000
98,521,300
19,999,760
1,982,071
27,482,930
4,998,000
8,174.000
9,900,000
7,790,000
1,000,000
20,000,000
2,177,000
13,217,000
1,500,000
1,500,000
4,970,000
6,100,000
3,000,000
1,500,000
8,400,000
1,287,000
1.470,000
2,088,000
229.000
4
2ifl
6
5
6
5
4
41flg.
5, 4
5
4
6
4Jfig.
7
7
5
6
4
A. N. Y., Del., L. & W. RR.
do
do
S.
N.
New
York.
N.
do
A.
New York, Office.
J.
London.
O.
New York.
N.
Aug., 1887
1907
May, 1923
Nov. 1, 1931
Aug. 1, 188$July 1, 1885*.
'88 to ’89 A '97
Nov. 1, 1910
New York.
J. & J.
M. & N. Philadelphia, Office.
Q .-J . Philadelphia & London.
A. & 0. Philadelphia, Office.
Q —M. Philadelphia & London.
do
do
J. & D.
do
do
J. & J.
do
do
J. & D.
Philadelphia.
Q’rt'rly
J. & J. Phil.,Pa., Co.,forins.&c.
Pittsburgh, Co.’s Office.
Q .-J . Phila. Tr. S. D. & I. Co.
J. & J. N. Y., Nat. City Bank.
J. & D. Phila., B’k N. America.
do
do
J. & D.
July 2, 188T
May 31, 188T
1910
Annually.
June 15,1905^
Dec. 1, 1911bJuly 1, 1921
June 1. 191S
1891-93
Jan. 1, 1901
For 1883
July 5, 1907"
July 1, 1921
Juu6 1, 1890
June 1, 1906
F. &
M. &
M. &
M. &
F. &
J. &
A. &
M. &
J. & D. Philadelphia, Penn. RR. Deo. 1, 1936F. & A. N. Y., Comp’ys Agency. Aug. 1, 1921
F. & A. N. Y., Chic., R. I. & Pac. Aug., 1887
6 g. J. & J. N. Y., Central Tr. Co. Jan. 1 ,1 9 2 0
Sept. 1, 1920
do
M. & 8.
6
Nov. 1, 192T
do
M. & N.
5
do
Various
7
burg & Erie operated by the Pennsylvania Company. The aooount fo r
the years 1884,1885 and 1886 was as follows:
INCOME ACCOUNT OP PENNSYLVANIA RAILROAD COMPANY,
1884
Net income Penn. RR. Divi8ion.$10,185,529
Net loss New Jersey Division . 593,536
B a la n ce................................ $9,591,993
From this balance deduct:—
Advances to Pennsylvania Co.
($1,667,733).............................
600,000
Payments to trust fund.............
277,460
Consol, mortgage redeemed . . . .
698,320
Allegheny Val. RR.—Deficiency
15,000
Fred. & Penn. Line RR.
do
Am. 88. Co.—To meet int. guar.
Settlement of balanoes under
trunk line pool in 1886............
For destruction of property at
New Brunswick, N. J ..............
$1,590,780
Balance to credit of inoome. . . . $8,001.213
Dividends............................ ...... 6,560,787
Rate of dividend.........................
(7)
1885.
$8,153,685
159,497
$7,994,188
1886.
,974,970
179,010
,795,954
$1,000,639
58,621
324,830
701,576
15.000
90.000
$667,093
69,895s
324,800
698,3 9 0
15,000
90,000-
$2,190,666
$5,803,522
4,738,892
265,000
$2,542,150
$6,253,804
4,738,892
(5)
411,972
(5 )
$1,514,912
$1,064,630
Credit of profit and loss......... $1,440,426
623,756
363,355
Balan oe of old aooounts, &o....... 1,020,692
$891,150
$701,275
Balance..................................
$419,734
14.032.918 14,734.193
Add profit and loss Jan. 1 ---- 13,613.184
Balance profit and loss Deo. 31. $14,032,918 $14.734,193 $15,625,349
- V. 437 p.‘ 11571327 245,' 352, ¿68/431, 516, 635, 774; V. 44, p. 149»
276, 288, 3 0 7 , 3 1 2 , 401, 466, 551,621, 681, 694, 809; V. 45, p. 1 3 »
113,143, 272.)
P en n sy lv an ia C om p an y.—The Pennsylvania Company is a cor
poration chartered by the Pennsylvania Legislature, April 7,1870, dm*
tinct from the Pennsylvania RR., and it operates all the leased lines west
of Pittsburg. The stock is owned by the Pennsylvania RR.
The registered bonds are secured by deposit of $4,000,000 of Pittsb. Ft.
W. & Chic, special stock. The gold bonds of 1921 are secured by a deposit
in trust of the leases of the Pitts. Ft. W. & Chic, and the Cleve. & Pitts,
railroads and are also guaranteed by the Penna. RR. Co. The trustee»
of the mort. are Wistar Morris, Edmund Smith and S. M. Felton. Tho
ainiring fund is 1 per cent per annum if the bonds can be bought at par.
The whole number of miles operated or in any way controlled
by this company is 4,083. The inoome account of the °ompany_showea
net profits over all liabilities, including fixed
if i iaa>i
1882; $872,829 in 1883; deficit in 1884 of $710,220; deficit in 1885 of
$1,094,671; deficit in 1886 of $200,674.
P en n sy lv an ia & N ew Y o r k (C anal an d H a llw a y ).—Own»
from Wilkesbarre, Pa., to N. Y. L. E. & W. RR. near New York Statty
Line, 104 miles. Branches to mines, 23 miles. Operated in connection,
with the Lehigh Valley Railroad as a northern outlet. Common stock,
$1,061,700, and preferred stock, $4,000,000. Gross earnings in 1885-86 »
$2,268,574; net, $662,383. Gross in 1884-8d, i.1*827,460; net. $8585,010. Soyon por cent dividend paid on preferred stock in 1885 and eignt
in July, 1887.
is controlled by the Pennsylvania RR. Co. The bonds are
hy ihe>
Pennsylvania RR. and issued in pieces of $100,000, o o n v e tb le 1b to
$t ,000 bonds. There is a sinking fund of 1 per cent. Gross earnings m
1885, $360,482; operating expenses. $400.585. Gross in 1886, $D3A,143; net, $41,491. J. N. DuBarry, President.
P en sacola Sc A tla n tic .—Pensacola, Fla., to River ¿fa ctio n , £¡*¡2
160 miles. Road completed Feb., 1883. Operated by Lou. & ?iash. since
Jan., 1885, and connects its system with the roads of Florida and oo.eta.
Stook. $3,000,000. In addition to the bonds above giv -n there a m
$975,000 6 per cent land grant bonds issued to the Louis
Nasn., k b .
Earnings for year ending June 30, 1686, $ - 94,61.6 gross aa\
n et; Interest on bonds, $160,000; other interest, $38,636; taxes, $19 ,
___
539; construction, $19,910: deficit. $224,496.
P eoria Sc B u reau V alley .-O w n s from BureauJunctiou to Peo
ria, 111., 47 miles. The road was leased in Perpetuity April 14,,1854, to
the Chicago & Rock Island Railroad at a rental of $125,000 per annum.
P eoria D ecatur & E v a n sv ille .—Owns from Pekin to Evansville,
235 miles; branch—Stewartsvtlle. Hid. to New Harmony. lnd.. 6
miles; leased, Pekin, 111., to Peoria, 111., 10 miles; through Decatur,
3 miles; total, 254 miles. This road iM a oons<^datlon of th e
Pekin Lincoln & Decatur RR. (formerly leased to the Wabash) and the
Decatur Mattoon <fc So. and the Grayviile & Mat. The road is operate®
in harmony with the Evansville & Terre Haute. In Deo., 1886, stock
holders voted to exchange the inoome bonds for 5 per cent 2d mortgage,
e a r n i n g s o n a l l l i n e s b o t h EAST AND WEST OP PITTSBURG <fe ERIE.
bonds, and the exchange was made in March, 1887. (See full statement,
1885.
1886
1884.
of the oompany and balance sheet In V. 44, P. 55,2.) Annual report tor
Gross earnings...................... $97,849,875 $92,994,549 $101,697,981 1886 in V. 44; p. 342. Gross earnings in 1886, $814.744; net, $336,61,690.901
67,102,714 981 ; gross in 1885. $736.984; net, $247,655. From Jam i lo June 3 0
Operating expenses.............
64,434,317
Net earnings.................... $33,415,558 $31,303,648 $34,595,267 in 1887 (6 mos.) gross earnings were $411,044, against $337,367 m
1886; net, $189,959, against
$137,103. (V. 43. p. 162, 275,
335, 368»
The income account
embraces
all reoeiptsthe
and
expenses
the 459,
Pennsylvania
Railroadbelow
proper,
but notincluding
roads
west ofof
Pitts-1
487,635, 7 6 6 , V. 44 p. T
149,212, 276, 309, 3 4 » , 5fi2>
002, Vv. 45 ,pn 26.V>
IINYESTORS’
SUPPLEMENT.
ív ol. x l y .
RAILROAD
S e p t e m b e r , 1887.J
STOCKS AND
BONUS.
8 9
Subscribers w ill confer a great favor by giving immediate notice o f any error discovered in these Tables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Due«
Amount Rate per When Where Payable, and by pal,When
Par
For explanation of column headings, &c., see notes of
of
Stocks—Last
Outstanding
Gent. Payable
on first page of tables.
Whom.
Road. Bonds Value.
Dividend.
P eoria dt Pekin Union—1st mortgage, gold, coupon
20 1881 $1,000 $1,500,000
6 g. Q .-F . N. Y., Central Trust Co.
1,500,000
1,000
4 1sg. M. & N.
Second mortgage, gold (issued for in com es).......
do
do
20 1881
100
799,600
6
A. & O.
Norristown, Pa.
38 1867
Perkiom en—1st mortgage...........................................
1,125,000
1,000
Lo
do
Consol, inort., gold, guar. P. & R., (sink. fu n d)....
38 1873
6 g. J. & D.
385,000
3
100
April
11
Nashua, Treasurer.
Peterborough (N. H.)—Stock.......................................
34,000
6
A. & O. Boston, N. E. Trust Co.
1877 500 &c.
Bonds (not mort.), redeemable after 1 8 8 2 ............
1,000,700
7
100
63
Petersburg—S to ck .......................................................
323,500
3
50
Guaranteed pref. stock, 6 per cen t........................
__
275,000
8
82 1869
J. & J.
Petersburg, Va.
1st mort. bonds (payable $25,000 yearly).............
643,000
5
J. & J,
1881
Mortgage bonds, class A ...........................................
do
800,000
6
A.
&
0.
1881
Mortgage bonds, class B ............................. ............
2,495.650
” 50
"79
Philadelphia dt Balt. Central--Stock.........................
1,0. 0,000
5
1,000
M. & N. Phila. Company’ s Office.
79 1881
1st mortgage (for $2,500,000)................................
1,100,000
7
A. & 0.
27 1871 100 &c.
do
do
Westchester & Phila., 1st mortgage.......................
.
.
.
.
7,975,000
50
Philadelphia dl Erie—Stock, common........* .............. 287
....
__ _
2.400,000
50
Philadelphia, Pa. RR.
Preferred stock, special............................................ 287
976,000
7
A. & O. Philadelphia, Pa. RR.
1,000
40
1857
1st mort., Sunbury & E. (extended 20 years in ’77).
3,000,000
7
1,000
J. & J.
do
do
2d mortgage............................................................... 287 1868
1,000 13,943,000 5 & 6 g. Various Philadelphia & London.
General M., g., guar by Pa.RR. ($5,263,000 rg. 5s) 287 1869
1,470,000
41» F. & A. Philadelphia, Penn.RR.
1,000
1885
Debenture bonds, reg. (redeemable at any time)..
1,000,000
4*8 M. & N.
1,000
7 1883
Phila. Oermant’n & Chestnut Hill—1st mort., guar
2,231,900
3
Q.—M. Phila., Treasurer of Co.
50
29
Philadelphia Oermantown dt Norristown—S tock ....
1,200,000
50
21
Philadelphia Newtown dt New York—Stock...............
700,000
6
A.
& O. Phila., 227 So. 4th St.
21
100
&c.
Bonds, guar, by Phila. & Read., coup.....................
....
50 39,474,911
2*3
Philadelphia, Office.
Philadelphia dt Reading—Stock, common................. 1,013
638,850
3
%
50
do
do
1,013
Preferred stock..........................................................
967,200
6
J. & J.
£500
London.
1843
Mortgage loan, sterling, coupon...........................
1,499,500
6
J.
&
J.
1,000
Philadelphia,
Office.
1843-9
do
dollars, coupon................ ...............
74,500
6
J. & J.
do
do
1857 500 &c.
do
convertible, ooupon.......................
2,700,000
7
A.
&
O.
do
do
1,000
1868
Mortgage loans, coupon........ ..................................
do
do
1871 200 &c. 18,811,000 6 g. or 7 J. & D.
Consol, mort. ($8,162,000 are gold 6s) cp. or reg.
1,000 24,686,000 7 & 6 g. J. & J. Last paid July, 1884
Gen. mort., gold, $ and £ , op.($5,000,000 are 7s). . . . . 1874
Feb. 1, 1921
Feb. 1. 1921
(Î)
June 1, 1913
April 11, 188T
Oct. 1, 1897
July 3, 1887
Jan., 1888-’98
July 1, 192B
Oct. 1, 1926
Nov. 1, 1911
April 1, 1891
Oct. 1. 1897
July i r i 8 8 8
July, 1, 1920
Feb. 1, 1910
May 1, 1913
Srpt. 3, 1887
Oct. 1, 1897
Jan. 25,1876
July, 1876
July, 1910
July, 1910
July, 1910
Oot. 1. 1893
June, 1911
July 1, 1908
Org an ization , L eases , &c.—The Philadelphia & Reading Company
P e o r ia Sc P e k in U n ion .—Owns from Pekin to Peoria, 10 miles
on each side of 111. R iver; total operated, 20 miles. The road is a union was chartered April 4,1833, to build from Philadelphia to Reading, and
road, and the stock of $1,000,000 was taken by the different Peoria
RR. companies, and they pay a rental for use of the road and also pay
terminal charges. See full description in V. 36, p. 253. Opened Feb.,
1881. In 18«5, gross receipts, $397,506; net, $168,437; balance
over interest and rentals, $4,286. Gross receipts in 1886. $226,352;
bet, $48,365; deficit under interest, rentals and taxes, $23,977. A. L.
Hopkins. President, New York.
P e r k i o m e n ,- Owns from Perkiomen Junction, Pa., to Emaus
Junction, 39 miles. The road was leased for 19 years from Aug. 1,
1868, to Phila. «&Reading RR., and bonds guaranteed by the lessees; but
the property was surrendered in May, 1879. Stock subscription, $38,040. A proposed plan of reorganization provides for cancelling present,
debt ana issuing a new mortgage for $2,250,0u0. (See V. 45, p. 53.)
Net earnings in 1883-84, $99.201: in 1884-85, $121,537; in 1885-86,
$89,775. Interest on debt, $115,476. (V. 44, p. 335; V. 45, p. 63.)
P e te r b o r o u g h .—Owns from Wilton to Greenfield, N. H., 11 miles.
Completed Jan. 1, 1874. and leased by Nashua & Lowell Railroad
for 20 years from 1873 at 6 per cent on cost of the road. Edward
Spalding, President, Nashua, N.H.
P e te rsb u rg . —Petersburg, Va., to Weldon, N. C., 63 miles. In May
1877, a receiver was appointed, but steps were taken by second mortage bondholders to prevent a sale, and reorganization was made with
323,500 preferred stock and $1,000,700 common stock. $440,000 Class
“ A” bonds are still in hands of Central Trust Co., of which $350,000 are
reserved to retire old 1st mortgage 8s In 1885-86, gross earnings,
$359,596; net, $160,934 ; in 1884-85, gross, $345,128; net, $157,095.
—(Y. 43. p. 608.)
P h ila d e lp h ia & B a ltim o r e C en tral.—Philadelphia to West
chester, 26 miles; Westchester Junction to Octoraro Md., 46 miles;
leased Chester Creek Railroad, 7 miles; total operated, 79 miles. This
was a consolidation, Oct., 1881, of the Philadelphia & Baltimore Cen
tral and the Westchester & Philadelphia railroads. Of the new stock
Philadelphia Wilmington & Baltimore RR. holds nearly all. In 1884-85.
net earnings. $181,799. In 1885-86, net earnings, $166,129; surplus
over chargee, $20,859.
P h ila d e lp h ia Sc B rie .—Owns from Sunbury to Erie, 287 miles.
Formerly Sunbury & Erie RR. It was leased to Pennsylvania RR. for
999 years from Jan. 1. 1862, the lessees to pay 30 per cent of gross
eeeipt as rental, but modified January 1, 1870, so that actual net
reoeipts are paid as rental. The general mortgage is guaranteed by the
Pennsylvania Railroad and the interest on the 6s is paid J. & J., on the
5 per cents A. & O. The unpaid coupons are held bv the lessee for ad
vances, and by terms of adjustment in J an., 1885, made with the Penna.
Railroad Co. the P. & E. issued $1,500.000 debenture bonds at 4*2 per
cent, secured by the overdue coupons held as collateral.
From January 1 to June 30, 1887 ( 6 mos.), gross earnings were
$1,864,401, against $1,66,,710 in 1886; net, $766,111, against $709,694.
Last report was in Ch ro nicle , V. 44, p. 273, giving the following:
f
INCOME ACCOUNT.
R eceipts1883.
1884.
1885.
1886.
Gross earnings....... $4,108,843 $3,660,146 $3,292,253 $3,708,485
Net earnings............ $1,488,020 $l,45'*,0-<0 $1,292,880 $1,465,953
Rents........................
4,892 .
9,120
8,471
10,836
Total incom e.... $1,492,912
Total disbursem’ts
1,277,575
Surplus........................
—(V. 44, p. 2 7 3 .)
$1,467,200 $1,301,351 $1,476,789
1,250,218
1,187,713
1,339.328
$215,337 $216,982
$113,638
$137,461
P h ila d e lp h ia G e rm a n to w n Sc C h estnu t H ill .—In Philadel
on May 13,1872, the Mount Carbon Railroad was merged and became
part of the main line. Road opened Philadelphia to Pottsville in Jan.,
1842. The Philadelphia «& Reading Co. leases a number of roads in
Pennsylvania, including the Catawissa, Chester Valley, Colebrookdale,
East Pennsylvania, Little Schuylkill, Mine Hill, Schuylkill Valley, Phila
delphia Germantown & Norristown, Philadelphia is Chester, and some
minor roads; also the North Pennsylvania Railroad and Delaware
& Bound Brook, forming the line from Philadelphiato New York. In
May, 1883, the Central of New Jersey was leased, including the leased
lines of that company in Pennsylvania, but after failure to pay the
lental and a decision that the lease was never lsgallv valid, the Jer
sey Central Road was given up Jan. 1, I s 87. The fiscal year ends
November 30. The annual election is held early in January.
The Philadelphia & Reading Coal <& Iron Company is a corporation
formed (Dec. 12,1871) for the purpose of owning ana working the ex
tensive coal properties of this company. The Phila. & Read.RR. Co. owns
all the stock ($8,000,000) of the Coal & IroD Company.
The P. & R. RR. and the Iron Co. were in the hands of receivers from
May, 1880, to May, 1883. Again in June, ’ 84. receivers were appointed.
Sto ck and B onds .—The preferred stock is of small amount, and did
not receive any dividends after 1880. The dividends paid on Phila
delphia & Reading stock from 1870 to 1875, inclusive, were 10 per cent
each year; in 1876 21« per cent was paid and nothing since.
The range of P. & R. stock yearly m Philadelphia since 1875 has been:
in 1876, 18*2055; in 1877, 10®20i4; in 1878, 113s@19%; in 1879,
l l 13@37®i8; in 1880, 6%®361a; in 1881, 25.30®37:14; in 1882, 24*b &
33«8;in lSSS^SJa-SSOia; in 1**4, 8 ^ 3014; in 1885, 6 3 8 ® ^ » ; in 1886
9 ls@ 2 7 ; in 1887, to Sept 16, in c i, 17*4@29.
The bonds in the table above are arranged with the mortgage bonds
placed first, then the plain debentures, iucome bonds, scrip, &o. Under
the sinking fund clause the right has been claimed by Mr. Gowen to p a y .
off the general mortgage bonds at any time on proper notice. The
trustees of the general mortgage oi 1874 hold the bonds of the Coal
& Iron Co., viz., $29,737,965 mort. of 1874 and the Phila. & Read. Co.
also holds the $10,000,000 mort. of the Coal & Iron Co. dated 1876.
The Deferred Income bonds have a claim for 6 per cent interest only
after 6 per cent has been paid on the stock. In January, 1883, the con
vertible adjustment scrip was issued, secured by $4,000,000 income
mortgage. The new consol, mortgage dated in 1882. due in 1922, was
issued in adjustment of certain liabilities In addition to the bonds
above given there are real estate mortgages of the P. & R. RR. Co. tor
$¿,098,200 and of the Coal & Iron Co. for $769,837.
Oper ation s , F inances , &c.—The Philadelphia & Reading Co. has
been the largest of the anthracite coal carriers, and through its auxiliary,
the Philadelphia & Reading Coal & Iron Co., became a large owner o f
coal lands. Between 1870 and 1876 the P. & R. increased heavily its
capital account in the purchase of new properties, and after paying IO
per cent dividends for some years ceased to pay after Jan., 1876.
In May, 1880, the company suspended payment and on May 24
receivers were appointed and held possession till 1ay, 1883. Bui in
June, 1884, the company again went into receivers’ hands, partly owing
to the he^vy charges on Central of N. J. lease, while coal profits also
declined largely.
In Feb., 1886, the Drexel-Morgan syndicate of bankers was formed,
with a proposed capital of $15,000,000, for the purpose or effecting
reorganization. (See C h r o n i c l e , V. 42, p. 216 and p. 394.) The plan o f
organization approved by the “ reconstruction trus ees ” representing
bondholders and the company, and by the syndicate, was publi hed at
length in the C h r o n i c l e of March 27, >886, on p 394, &c., and after
the agreement with Mr. Gowen in Sept., 1886, under which Mr. A. Corbin,
became President, the complete plan as modified was published in the
C h r o n i c l e of Dec. 18, onp. 747; (V. 43. p. 747).
From Dec. 1,1886, to July 3 1 ,18»7 (8 mos.), gross earnings o f the
P. & R. R.R. were $13,555,867, against $12,207,795 in 1885-6; net,
$8,760,754, agst $4,871,865 in 1885-6. Including the Coal & Iron Co.,
the net earnings were $7,1*2,010 in 1886-7, agst $3,439,58 ■in 1885-6.
With the proceeds of assessments on stock and bonds and the largely
increased iucome in 1887, the trustees paid receivers’ certificates, float
ing debt, and began to pay overdue interest. See V. 45, p. 305.
The annual report for the year ending Nov. 30,1886, was in V. 44, p.
89, and gave the income aocount as below, including the Central
of New Jersey leased lines. From this report it appears that the floating
debt and “ current liabilities ” of the P. & R. and the Coal & Iron cost
Nov. 30, 1886, were $29,779,273. against $23,070,177 the previous
year, an increase of $4,7c 9,096. The details of the P. & R. RR. Co.’»
unfunded debt were as follow s:
Nov. 30, ’ 86. Nov. 30, '85.
Bills payable and loa n s................................ $6,724,805
$7,103,890
Receivers’ certificates....................................
2,835,370
2,747,857
Leased roads and canals—rentals................
5,342,743
3 364,501.
Unpaid interest and dividends....................
8,219,814
4,694,427
Connecting roa ds..........................................
521,467
474,271
Account of current business........................
492,415
454,356
Wages, drawbacks. &e...............
1,842,990
1,400,971
Taxes on stock and receipts............
322,054
592,350
phia from Germantown June., on Connecting Railway, to Chestnut Hill,
6% miles. From May 1,1883, leased for 30 years to the Pennsylvania
RR. Co., which guarantees 4 1« per cent on the bonds. Gross earnings in
1885, $108,162; operating expenses, $116,405. Gross in 1886, $140,773; net, $7,464.
P h ila d e lp h ia G e rm a n to w n Sc N o r ris to w n . — Philadelphia.
Pa., to Norristown, Pa., 17 miles; Germantown Branch, 3 miles; Ply
mouth Railroad, 9 miles; total, 29 miles. The property was leased
Nov. 10,1870, to Philadelphia & Reading Railroad for 999 years at a
rental of $269,623 and $8,000 yearly for organization expenses. Divi
dends of 12 per cent per annum are regularly paid.
P h ila d e lp h ia N e w to w n Sc N ew Y o r k . —Owns from Erie Ave.,
Philadelphia, to Newtown, Pa., 21 miles. Capital stock, $1,200,000,
On November 10,1879, the Philadelphia & Reading Railroad purchased
12,012 shares (which gave control of the property), and guaranteed the
bonds; the read is operated in connection with the P. & R. system.
Earnings in 1884-85, $73,928, expenses, $82,282; deficit, $8,353.
In 1885-86 earnings were $80,450; expenses, $86,629; deficit, $6,179.
P h ila d e lp h ia Sc R e a d in g . — L ine of R oad—Owns main line.
Philadelphia to Mount Carbon, Pa., 98 miles; branches ow red/2 2 8
miles; leased fines, 579 miles; roads controlled, 107 miles: total oper
ated in 1887 about 1,013 miles. These leased lines include the No. Penn,
and Delaware <fc Bound Brook roads, from Philadelphia to Bound
Brook, N. J., and branch to Trenton. The Shamokin Sunbury & Lewis$26,301,658
$20,832.623
burg, and the Jersey Shore Pine Creek & Buffalo and other lines, form
The Coal & Iron Co.’ s floating liabilities on Nov. 30, 1886. were
the connecting roads to the N. Y. Cent. & H. at Geneva and Lyons, N. Y. $1,855,363, against $2,809,499 on Nov. 30,1885.
INVESTORS’
« 0
SUPPLEMENT.
[V ol . XLV,
S ubscribers w i l l co n fe r a great fa v o r b y g iv in g im m ed ia te n o tic e o f a n y e r ro r d iscov ered in these T ables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount
Par Outstanding Rate per When Where Payable, and by
of
For explanation of column headings, &c., see notes of
Cent. Payable
whom.
Road. Bonds Value.
on first page of tables.
A.
&
O.
$9,364,000
$1,000
Philadelphia.
1873
Phila. dk Read.—(Ooni.)—Improvement mort., gold
6 g*
4,905,000
J. <fe D. Last paid Dec., 1883
7
1,000
1876
M. & N. Last paid May, 1884
4,403,328
1882 500 &c.
Consol. M. o fv8 2 .1st ser., gold (for $80,000,000).
1 g2,441,052
1883 500 &c.
5 g- F. & A. Last paid Feb., 1884
do
2d senes (for $80,000,000).......
652,200
6
J. & J. Last paid Jan., 1884
1868 100 &c.
6,203,900
7
J. & J. Last paid Jan.. 1884
1873 100 &c.
do
convertible, coupon.....................
557,569
6
J.
& J. Last paid Jan., 1884
1877 10 &c.
Borin deben. and guar, bonds, currency.................
1,794,510
6
J. & J. Philadelphia & London.
1877 90 &o.
Scrip general mort. and Perkiomen, 6, sterling..
_
6
Nothing ever paid.
1882 50 &o. 24,673.400
894,690
6
....
Nothing ever paid.
Deferred income scrip...............................................
2,110,730
6
J. & J. Last paid Jan , 1884.
....
1883
-Conv. adjustment scrip ............................................
1,400,000
F. & A.
6
Philadelphia.
1883
822,000
M. & S. Last paid March, 1887.
6
1884
12,261,000
6
&
7
500
&c.
Various
Philadelphia,
Office.
1872-4
P. & R. Coal & I., purchase money mort. bonds...
1,117,000
M. & 8. Last paid March, 1884.
1,000
7
1872
Q--JV
1,259,100
100
Philadelphia,
Office.
2ia
39
Philadelphia dt Trenton—Stock...................................
4
J. & J. Phii’delphia, Co.’s Office
50 11,819,350
■Philadelphia Wilmingtoh <£Baltimore—Stock.........
506
1,000,000
4
1,000
A.
&
O.
do
do
1887
.Plain bonds, registered.............................................
700,000
6
A. & O.
do
do
1872-4 1,000
800,000
6
A. & O.
1.000
do
do
1875
do
...............................................................
....
1,000,000
5
T. & D.
do
do
1880
do
.......... ....................................................
650,000
1,000
F. & A.
5
New York.
xPiedmont <6 Cumberland—1st mort...........................
30 1886
3,500,000
1,000
6
J. & D. Phila. P. & R. RR. Co.
1883
P in e C reek .-1st mort., guar.......................................
6,863,000
1,000
7
F. & A. Phila., Pa., RR. Office.
199 1868
Fitts. 0. <£ St. L .—1st M., consol., reg. and coup........
2,500,000
1,000
A. & O.
do
do
7
199 1873
2d consol, mortgage..................................................
3,000,000
1,000
5
J. & J. N. Y., Nat. City Bank.
125 1864
1st mort., Steub. & Ind., extend, in 1884, reg___
134,000
1,000
7
J.
&
J.
1864
Phila.,
Pa.
RR.
Office.
33
Ool. A Newark Division bonds.................................
120,000
6
F. & A.
....
do
do
Holliday’s CoveRR. mortgage bonds....................
2,400,000
.
.
.
.
6
A
..
&
0.
New
York.
1882
iTittsb. Cleve. & Toledo—1st mortg., gold, int. guar..
78
4,000,000
1,000
7
J . & J . Balt., Balt. & Ohio RR.
*pittsb. <£ OonneUsville.—1st mortgage....................... 149 1868
326,600
6
F. & A. Pittsb., First Nat. Bank
10 1859 100 &c.
1st mortgage Turtle Creek division........................
6,292,000
£200
6 g. T. & J . London. J.S.Morgan&Co
■Consol, mort., guar. B. & O. (s.f. £7,200 pr. yr.).. 149 1876
10.000,000
100
&o.
New York Agency.
2d consol, mortg., gold (pledged for B.& O. bonds). 149 1885
5 g- F. & A.
Bond»—Princi
pal,When Due.
Stocks—Last
Dividend.
Oct. 1, 1897
Deo. 1, 1896
May 1, 1922
Feb. 1, 1933
July 1, 1893
Jan. 1, 1893
July, 1877-84
July, 1882-85
Irredeemable.
Irredeemable.
Jan. 1, 1888
1892 to 1894
1892
July 10, 1887
July 1, 1887
April, 1917
Oct. 1. 1892
April 1, 1900
June, 1910
Aug. 1, 1911
Deo. 1932
Aug. 1, 1900
April 1, 1913
Jan. 1,1914
Jan. 1,1890
Feb. 1,1893
Oct. 1, 1922
July, 1898
Aug. 1, 1889
Jan. 1, 1926
Feb. 1, 1925
4,864,889 tons, against 4,066,386 tons in 1885, a gain of 798,503 tons,
the larger portion of whioh was in local traffic. All classes of freight
1885-86.
1884-85.
$44,643,966 $46,373,811 show an increase, except ore, live-stock and agricultural products. The
34,253,954 coke traffic shows an increase of about 57 per cent, or 112,038 tons.
32,015,069
The gain in the volume of ooal was also quite large. There was an in
Net earnings.........................$13,396,534 $12,628,897 $12,119,857 crease in freight earnings of $711.122 42. The average rate received
per ton per mile was 6210 mills as compared with 5S10 mills for the pre
T he income account was briefly as follow s:
vious year; and while the average oust was increased, the result was an
increased profit on this class of traffic. There were carried 1,321,432
INCOME ACCOUNT.
1885-86.
passengers as compared with 1,261,427 in 1885, there being a gain in
1884-85.
V e t receipts, both companies........................... $12,628,897 $12,119,857 local, and a loss in through travel.”
The statistics of the report for 1886 were in V. 44, p. 342.
Prom this deduct: For the Railroad Co.—
$62,895
$82,430
D ebit balance, profit and loss.................., .......
1383.
1884.
1885.
1886.
30,653
estate tax on capital stock..................................
18,898
Total gross earnings. 4,623,740
4,045,257 4,033,623 4,752,596
vA.ll rentals and full interest due, including
3,087,465 2,731,960
2,681,633 3,130,690
15,804,595 Op. exp. and taxes..
dividends due on Cent, of N. J stock.......... 16,184,453
Deduct: For the Coal & Iron Co.:
Net earnings.............
1,536,275
1,313,297
1,351,990 1,621,906
‘{Full interest on all obligations other than
984,684 P.o.of op.ex.to eam’s
66*77
67*53
66*48
65*87
those held by the Railroad Co.........................
940,997
GROSS AND NET RECEIPTS.
1883-84.
'Gross receipts................ ...........$47,450,848
d ross expenses................ ........ 34,054,314
$17,226,778 $16.882,827
d e fic it of both companies.................................. $4,597,881
$4,762,970
— (V. 43, p. 23,102,103,131.133, 245,275,368,399,431,459,516, 547,
' 635,672, 719, 738, 747; V. 44, p. 22, 61, 89, 90, 185, 212, 244, 276,
-30 9 , 344, 401,434, 459, 466, 527, 544, 551, 586, 701, 714,752,782,
3 0 9 ; V. 45, p. 26, 54, 85,143, 211, 240, 272, 305, 341.)
P h ila d e lp h ia Sc T r e n t o n .—Owns from Kensington, Pa., to Mor¡risville, Pa., 26 miles and Tioga Branch, 1 m ile; leased—Trenton Bridge.
O onnecting Railroad, 7 miles, and Frankford & Holmesburg Railroad, 4
miles; total owned and leased, 39 miles. On Dec. 1, 1871, it was
leased with the United Companies of N. J. to the Penn. RR., at 10 per
voent on stock, and is operated as a part oi its New York division.
P h ila d e lp h ia W ilm in g t o n Sc B a ltim o r e .—Mileage as folio
Philadelphia Wilmington & Baltimore RR., 122 miles; Philadelphia &
Baltimore Central, 71); Delaware RR., 100 ; Queen Anne & KentRR.,
126; Delaware & Chesapeake, 55; Cambridge <& Seaford RR., 27; Del.
Hid. & Va. RR., 98 m iles; total operated, 506 miles. Owns over half the
« lo ck of the Phil. & Balt. Cent.
This road on the main route, Philadelphia to Baltimore, has been
profitable, paying regular dividends, with a considerable surplus. From
’ 3.868 dividends of 8 per cent on the stock have been paid each year. In
April, 1881, nearly the whole stock was purchased and is held by Penn.
R R . Co. For four years the Income account was as follow s:
INCOME ACCOUNT.*
Receipts—
Net earnings.............
Rentals and interest
Net from l’sed roads.
M iscellaneous........
1883.
1884.
$
$
1,536,275
1,313,297
8,784
4.624
401,132
423,531
......................................
Total income.......
1,946,191
Disbursements—
$
Rentals paid.............
856,345
Interest on fund.d’bt
714,490
Other interest...........
231,216
Int.on C.&M.Val.bds.
105,000
LossonSt.L.V.&T.H.
82,534
“ Cin.&Mus. V .R R ......................
Miscellaneous..........
10,418
1,741,452
$
849,920
646,990
183,850
105,000
33,011
42,003
27,888
1885.
1886.
$
$
1,351,990 1,621,906
4,835
4,974
378,330
432,897
589
............
1,735,744 2,059,777
$
$
830,881
931,518
646,990
646,990
178,615
133,104
52,500
.....
..................................
66,917
............
............
14,172
Total.................... 2,000,033
1,888,662
1,775,903
1,725,784
Balanoe..................... def.53,842 def.147,210 def. 40,159 sur. 333,993
* Exclusive of Col. Ohio. & Ind. Cent.
GENERAL BALANOE AT CLOSE OF EACH FISCAL TEAR.
1883
1884.
1885.
1886.
Assets—
$
$
$
$
1885-6.
RR.,
equipment,
Ac..
20,605,107
20.798,277
20,870.740
20,965,392
$
Stocks
owned,
cost..
1,085,967
1,085,967
1,085,967
1,085,967
6,004,764
Bonds owned, c o s t..
............
23,750
23,750
23,750
20,318
21,744
38,17
16,021
1,855,178 1,788,816 1,862,630 Betterm’ts to l’s’d r’ds
1,107,502
1,119,287
1,036,391
951,613
133,496
122,373
146,378 Bills & accts. receiv..
Materials, fuel,& c...
474,337
292,014
389,995
330,697
317,725
258,918
276,134
322,045
Total income.......... 1,785,245
1,988,674 1,911,189 2,009,008 Cash on hand............
Cin. Str. Conn. R y ...
64,639
64,639
64,639
64,639
Disbursements—
$
$
$
$
Profit & loss balance
232,415
396,124
428,482
119,300
Rentals paid..................
285,329
331,338
386,634
367,650
in terest on debt............
211,778
201,485
200,000
200,0' 0
Total assets........ 23,908,010 24,060,720 24,214,266 23,879,426
tTaxes.............................
48,234
47,682
47,686
47,697
$
Liabilities—
$
$
$
¿Dividends, 8 p e r ct___
943,604
913,604
945,548
945,548 Stock, common........
2,508,000
2,508,000
2,508,000
2,508,000
«Miscellaneous...............
150,133
14,543
11,674
13,605 Stock, preferred.......
5,929,200
5,929,200
5,929,200
5,929,200
Bonds......... ............... 12,617,000 12,617,000 12,617000 12,617,000
Total disbursem’ts... 1,639,078 1,538,653
1,591,542 1,574,501 All other dues& acc’ts 1,692,961
2,013,724 . 1,680,136
1,451,050
845,826
845,290
845,826
-Balance, surplus..........
146,167
450,016
319,647
434,507 Due Little Miami RR.
847,360
Due C. C. & I.C. RR -.
.........- •
— V. 44, p. 185.)
262,500
262,500
262,500
Cin. Street Conn.bds.
262,500
447,144
38,018
37,298
P ie d m o n t & C u m b erla n d .—Road extends from Piedmont, West Miscellaneous............
50,989
"Va., to Cumberland, Md., 30 miles. It connects the West Va. Central &
Total liabilities . 23,908.010 24,060.720 24,214,268 23,879,426
■Pittsburg RR. with the Pennsylvania RR. system, and has a traffic con
tra ct from the Pennsylvania Railroad. Stephen B. Elkins, President.
—(V. 42, p. 366, 5 4 7 ; V. 43, p. 245; V. 44, p. 3 4 2 .)
P in e Creels.—Stokesdale Junction to Newberry Junction, Pa., on the
P ittsb u rg C leveland Sc T o le d o . —(See Map o f Baltimore <6 Ohio.)
OorningC.&A. Road,75 miles. Formerly Jersey Shore Pine Creek & Buft.
Newcastle Junction, Pa., to Akron, O., 77 miles. Stock $3,000,R R . It is operated by the Fall Brook Coal Co., and forms a connection —From
00,
par$50. Leasedin July, l*6 4 .for9 9 years, to Pittsburg & Western,
between Philadelphia & Reading lines and N. Y. Central, and bonds are which
is
-/oiled by Baltimore
Ohio, and the Baltimore & Ohio
iaranteed by these companies and the Coming C. & A., on the condion that guarantors shall advance money for interest if needed and Company guarantees interest on the P. C. & T. bonds (see terms in V.
-take 2d mortgage bonds for such advances. Stock $1,000,000. Stock 39, p. 607.) In the year ending June 30, 1836, gross earnings were
.and bonds were largely held by Mr. W. H. Vanderbilt. Gross earnings in $400,825; net, $132,462 ; interest, rentals, «fee., $260,802 ; deficit,
1885 were $538,326; net, $167,564; lent of road, $161,498; surplus. $128,340.
¡¿$6,066.
P ittsb u rg Sc C o n n e llsv llle .—Owns from Pittsburg, Pa., to
P itts b u rg C in cin n a ti Sc St. L o u is .—Owns from Pittsburg, Pa., Mt. Savage June., Md., 147 miles; branch, 2 miles ; leased lines, 22 miles;
to Columbus, Ohio, 193 u iles; branch to Cadiz, Ohio, 8 miles; total, 201 total, 17Ì miles. Leased to the Balt. & Ohio Railroad since Jan. 1,
•miles. This was a consolidation of several companies, May 1, 1868, in- 1876. The city of Baltimore transferred its interest to the Balti•-eluding th« Steubenville & Indiana and the Pan Handle roads. This com- more*Railroad for $1,000,000, and the consolidated sterling mort
» pany is controlled by the Penn. Company, through the ownership of a gage was made and guaranteed by the Baltimore & Ohio, o f which
majority of its stock. The P. C. &St. L. also has leases of the Little Miami enough is reserved to retire the prior bonds. It is operated as the
. fand its dependencies. Common stock, $2,508,000; first nref. $2,929,200- Pittsburg Division of the Baltimore & Ohio RR. In 1884 the Balt. <fe
«second preferred, $3,000,000; par value of shares, $50. Authorized Ohio issued its bonds for $10,000,000 secured by pledge of the above 2d
consolidated mortgage of the Pittsburg & Connellsville RR. Stock is
■¡amount of 1st mort. $10,000,000, of which $3,137,000 reserved.
v The report for the year 1886 said: “ The tonnage transported was $1,944,400. In 1885-86 gross earnings, $2,430,085 ; net were $842,4*21.
INCOME ACCOUNT.
1882-3.
$
«Gross earnings............ 5,741,672
Receipts—
Net earnings................ 1,675,997
««Other receipts...............
109,348
f
1883-4.
$
5,820,323
1884-5.
$
5,678,588
S e p t e m b e r , 1887.]
KA1LB0AD SrOCKS
AND BONDS.
91
S u bscribers w i l l c o n fe r a g rea t fa v o r b y g iv in g im m ed ia te n o tic e o f an y e rro r d iscov ered in these T a b les.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or Amount
pal,When Due.
For explanation of column headings, Ac., see notes of
Par
of
Rate per When Where Payable, and by Stocks— Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Pittsburg Ft. Wayne <6 Chicago— Stock, guar ..............
Special improvement stock, guaranteed................
1st mort. (series A to F ) i Bonds all. coupon, but
2d do (series G to M) > may be made payable
3d mortgage ......................) to order.
Pittsburg Junction—1st M., gold .......................................
Pittsburg <t Lake Erie—Stock .............................................
1st mortgage, gold, coupon .............................................
Pittsburg McK. <6 Youghiogeny— Consol, stk., guar .
1st mortg., guar.........................................................
2d mortg......................................................................
Pittsburg kainesvxlle <&Fairport—1st mortgage___
Pittsb. V tt. A Charleston— 1st mortgage, gold............
Pittsburg <& Western.— 1st mort.,g.(for $10,000,000)
1st mortgage. Pitts. Brad. & Buff...........................
Port H uron & Northwestern—1st mortgage.............
Consolidated mortgage......................................................
Port Royal <& Augusta—1st mortgage.............................
Augusta & Knoxville mortgage................ ....................
Portland <£ Ogaensb.— 1st mort., g o ld ...........................
Consol, mortgage (for $3,300,000)...............................
Portland <& Rochester— Stock ($600,000).......................
Portland Saco <& Portsmouth— Stock...........................
Portland <&Willamette Talley—1st mort., gold........
Portsmouth <&Hover—Stock.........................................
Portsmouth Ct. Falls <& Conway—Stock.....................
1st mortgage...............................................................
Poughkeepsie H artford <£Boston—(NowN. Y.&Mass.)
468
468
468
468
468
4^
70
70
65
62
62
70
120
103
218
218
218
24
112
112
68
60
94
53
51
29
11
73
73
....
$100 $19,714,286
100 10,776,800
500 &c.
5,250,000
500 &3.
5,160,000
500 «fcc.
2,000,000
1,000
1,440,< >00
50
2,050,000
1,000
1878
2.000,000
50
1884
3,000,000
1882
1,000
2,250,000
1884
1,000
750,000
1886
1,000,000
1882
1,000
3 000,000
1,000
1887
(?)
1,000
1881
800,000
1879
755,000
1882
920,000
135,000
1881
500,000
250,000
1878 100 &c.
112,000
1882
....
630,000
1880
1,500,000
1878 100 &c.
800i000
1870 500 &c.
2,377,000
1871 100 &c.
....
590,800
100
1,500.000
1,000
400,000
1886
100
769,000
100
1,150,300
1,000,000
1877 500 &o.
....
....
(?)
1871
1862
1862
1862
1881
P ittsb u rg F o r t W a y n e Sc C h ica g o. Owns from Pittsburg, Pa.,
to Chicago, IU. 468 miles. The company made default Oct. 1,1857. and
again in 1859„and was foreclosed Oct. 24,1861, and reorganized under
tms title Feb. 26,1862. On June 27,1869, the company leased all its
road and property to the Penn. RR at a rental equivalent to interest,
sinking fund of debt, and 7 per cent on $19,714,286 stock, which was
Increased at that ulme from $11,500,000. The lease was transferred
subsequently to the Pennsylvania Company. The lessees are to keep
the road in repair and also pay taxes, expenses, &c. The rental and
interest charge is about $3,126,000 per year, and the profit to lessees
had been large; in 1884 and 1885, however, there was a loss to lessee.
The Pitts. Ft. Wayne & Ch ic. leases the Newcastle & Beaver Val. and the
Lawrence roads, which in turn are leased again by the Pennsylvania Co.
The first mortgage bonds are in six series lettered A to F inclusive,
of $875,000 each series, the interest on “ A” series being payable Jan.
and July ; on “ B” it is February and August; on “ C” it is March and
September; on “ D” it is April and October; on “ E” it is May and Nov.,
and on “ F” it is June and December. The second mortgage is also in
six series of $860,000 each, lettered H to M inclusive (J omitted), and the
interest is payable Jan. and July on “ G” series, Feb. and Aug. on “ H,”
March and Sept. on “ I,” April and Oct. on “ K,” May and Nov. on “ L,”
and June and Dec. on “ M.” The bonds are coupon, but may be regis
tered payable to order. Of the 1st mortgage bonds, $1,633,500, and of
the 2d mortgage $1,949,500, and $823,767 cash, were held in the sink
ing funds Jan. 1, 1887. The special improvement stock is issued to
Pennsylvania RR. for improvements, &c., under article 16 of lease,
which provides that the lessee may issue special bonds or stock, and
says: “ The said party of the second part shall guarantee the payment,
semi-annually or quarterly, thereon of such rate of interest as may be
agreed upon between the parties hereto, to be paid by the said party of
the second part to the holders thereof without deduction from the
rent hereinbefore reserved; and the said special stock, or bonds, or
other securities, shall be issued only in respect to improvements of and
additions to the said railway which, and estimates and specifications
of which, shall have been submitted to and approved by the said party
of the first part in writing.” * * *
It was proposed to change the terms of the ^ease so as to issue bonds
to the lessee instead of the special guaranteed stock, but this was not
consummated.
Operations and earning« for five years nast were a s below; in the gross
the net profits on leased lines are included, and in the net the earnings
paid to the C. & P. road are deducted.
Passenger Freight (ton)
Gross
Available Div’d
Years. Miles. Mileage.
Mileage.
Earnings.
Revenue, p. ct.
1 8 8 2 .. .. 468 140,057,682 99i , 907,501 $10,957,133 $4,368,465
7
18 8 3.. .. 468 127,520,075 - 944,563,376 10,965,656
3,747,519
7
1 8 8 4 .. .. 468 110,639,940 907,951,237 9,204,314
2,907,465
7
1 8 8 5.. .. 468 134,613,104 9^3,564,515 8,237,156
2,411,451
7
1 8 8 6 .. .. 468 104,370,187 903,083,277 9,129,340
3,083,012
7
P ittsb u rg J u n c t io n . —From Monongahela River to Allegheny
River, Pittsburg, Pa., 4^4 miles, including side tracks and branches.
Built under auspices of B. & O. and Pittsburg & Western, which compa
nies made an agreement to pay $2 for each car, and guaranteed (separ
ately) a minimum of $240,000 per annum. In 1886 gross earnings
were $176,000 and net $140,090. Common stock is $960,000. Preferred
stock, $480,000. In 1886 7 per cent dividend was paid on the pre
ferred stock. (V. 44, p. 118.)
P itts b u rg Sc L a k e E rie .—Owns from Pittsburg, Pa. to Youngs
town, Ohio, 68 miles; branch line to Newcastle, Pa., 2 miles; total, 70
miles. Leased from Jan. 1,1884, for 99 years, the Pittsburg McKeesport
& Youghiogheny RR., from Pittsburg to New Haven, Pa., 57 miles, with
branches, 5 miles. Scrip certificates for $615,000, bearing 6 per cent
interest and payable at will, are also outstanding. This company is
managed in the interest of Lake Sh. & Mich. So.. Gross earn, in 1885,
$1,201,312; net, $394,407. In 1886 gross, $1,376,861; net, $375,655.
Jno. Newell, Pres’t, Cleveland, O. (V. 44, p. 91,544.)
P itts b u rg M cK e e sp o r t Sc Y o u g h io g h e n y .—Owns fromPittsburg to New Haven, Pa., 57 miles; branches, 8 miles; total, 65 miles.
Road opened Nov., 1883, and leased to Pittsb. & Lake Erie RR. for 99
years, 6 per cent on the $3,000,000 stock and principal and interest of
the bonds being guar. byP . & L. Erie and Lake Shore & M. So. Cos., the
guarantees being endorsed on the share certificates and bonds. Gross
earnings in 1885, $587,723; net, $320,270; paid interest and dividends,
$359,173; deficit, $38,903. Gross earnings in 1886 $641,838; net,
$367,042; paid interest and dividend, $360,380; surplus, $661. W. C.
Quincy, President, Pittsburg, Pa.
P ittsb u rg P a iu e s v ille Sc F a ir p o r t. —Owns from Fairport. O.,
to Youngstown, O., 62 miles. Leased in Dec., ’ 86 to the Pittsburg &
Western the 52 miles from Fairport to Niles. The Painesville & Youngs
town RR. Co. made default, and road was sold in foreclosure June 2,
1879, and reorganized. Sold again in foreclosure June 3,1886, fo $4o0,000, and P. P. & F. Co. organized. Com. stock, $800,000;pref., $250,000.
P itts b u r g V ir g in ia Sc C h a rleston . —From South Pittsburg, Pa.,
to Uniontown, Pa., 70 miles. The stock is $1,505,000. The bonds and
$1,251,050 of the stock are owned by the Penn. RR. Gross earnings,
1886, $629,104; net, $252,232. Dividends of $1 50 per share paid in
March and September, 1885, and 2 \ per cent April 4, 1887.
P itts b u rg Sc W e s te rn .—Owns from Alleghany City, Pa., to New
Castle, Pa., 64 miles; Callery Junction to Mt. Jewett, 137 miles; Duck
Rim Branch, 3 miles; Clarion Branch, 6 miles; other branches, 2 miles;
total, 212 miles. Leases P. C. & Tol., New Castle Junction, Pa., to Val
Q.— J. N. Y . , Winslow, L. & Co.
do
do
Q .-J .
do
do
Various
Various
do
do
7
A. & O
do
do
7
6 g. J. & J . New York. 3d Nat’l Bk.
N. ? ., Chemical Nat. Bk.
3
6 g. J. & J. N. Ÿ . , Phila. & Pittsb.
1^
Q.—J7. & J . N.Y., Union Trust Co.
6
6
J. & J.
do
do
5
J. & J.
Philadelphia.
A. & 0 .
5
4 g. J. & J. New York. 3 Broad St.
6
A. & O. Last paid Oct., 1884.
7
A. <fc O. N. Y., First Nat. Bank.
6
M. & S.
do
do
7
F. & A.
July 5, 1887
July 1, 18$T
July 1, 1912
July 1, 1912
July 1. 1912
July, 1922
In 1887
July 1. 1928
July 1, 1887
July 1, 1932
July 1, 1934
1916
April 1, 1912
July 1, 1917
April 1, 1911
Oct. 1, 189»
Mar. 1, 1922
6
6
7
6
6 g.
6 g.
3
3
7 g.
3
3
4^3
N. Y., Nat. City Bank.
Jan. 1, 1899
1898
July 1, 1900
Last paid July, 1883.
Last paid May, 1883.
Portland.
Boston, Office.
N.Y., Farm. L. & Tr. Co.
Portsmouth, Treas,
Bost.i Eastern RR. Co.
do
do
Jan., 1900
Nov., 1901
July, 1886
July 15,1887
Jan. 1, 1906
July 1, 1887
July 15, 1373
July 2, 1937
1H
1H
7
....
J. & J. N. Y., 234 Broadway.
J. & J.
J. & J.
J. & J.
M. & N.
....
J. & J.
J. & J,
J. & J.
J. & J.
J. & D.
....
ley Junction, O., 77 miles, and uses 26 miles of Cl. Mt. V. & Del. RR.,
Akron. O., to Orville, O.; total, 315 miles. This was a consolidation o f
several roads dated June 15, ’81, and in ’ 83 Pitts. Brad. & Buffalo was
acquired. In July. 1884, leased the Pittsburg Cleveland & Toledo RR.,
making a line to Akron, O. Operated in the Baltimore & Ohio interest,
and went into receiver’s hands in March, 1885. Sold in foreclosure
June 8,1887, and bought by the N. Y. committee. New company orgtnized June 25, as follow s: President, James Callery, Allegheny City;
Vice-President, A. J. Thomas, New York; Treasurer, J. P. Curtis, New
Y ork ; Secretary, H. D. Campbell, Pittsburg; Directors—James Callery,
J. W. Chalfant, William Semple, Allegheny; H. W. Oliver, Jr,, Pitts
b u r g ; A. J. Thomas, C. H. Coster, A. H. Brock, New York.
The plan of reorganizat on (in the Chronicle, V. 44, p. 370) pro
vided for the issue of a new 1st mort. gold for $10,000,000 at 4 per
cent, and $5,000,000 of pref. 5 per cent stock, and $7,000,000 common,
stock. In 1884-85 gross earnings, $844,793 ; net, $230,175. In 188586, gross earnings, $1,091,463 ; net, $334,028. (V. 43, p. 399; V. 44.
p. 370, 544, 752 ; V. 45, p. 26,113.)
P o r t H u r o n Sc N orth w estern .—Port Huron to East Saginaw*
91 miles; Saginaw Junction to Sand Beach, 58; Port Austin to Palms,
35; Port Huron to Almont, 34; total, 218 miles. In 1886 gross earnings
were $315,985; net earnings, $Lo 1,662; interest payments, $141,811
In 1885 gross, $297,762 ; net, $84,283; interest payments, $140,574.
John P. Sanborn, President, Port Huron, Mich.
P o r t J e r v is M o n tic e llo Sc N . Y . —Owns from Port Jervis, N,
Y., to Monticello, N. Y., 24 miles. Was sold in foreclosure July 16,1875,
and again sold out in Nov., 1886,“ and then reorganized under present
title. H. R. Low, Middletown, Prest. Gross earn’s in 1884-85 $20,530.
net, $5,355. Gross in ls85-*6, $10,720; net, $1,944. (V. 43, p. 309, 579.);
P o r t R o y a l Sc A u g u sta . —Owns from Port Royal, S. C., to Augus
ta, Ga., 112 miles. Leased in Sept., 1883, the Augusta & Knoxville road,
Augusta, Ga., to Greenwood, 8. C., 68 miles, for 99 years, at 4 per cent
on stock of $127,639, and assuming the bonded debt. Formerly Port
Royal Railroad. Defaulted Nov. 1,1873, and receiver appointed May 9,
1875. Sold in foreclosure June 6,1878, and purchased for the bond
holders, who organized this company. The Georgia Railroad was en
dorser on $500,000 of the old bonds. The stock is $750,000, and in
June, 1881, a controlling interest was purchased by Central Georgia RR.
parties. Gross earnings in 1885-86, $452,113; net, $58,102. Inl884-85,
gross $412.164; net, $58,148.
P o r tla n d Sc O gd en sb u rg .—Owns from Portland Me., to Fabyans,
91 miles. It reaches the Vermont Division (now St. Johnsbury & Lake
Champlain) by using 14 miles of the Boston Concord & Montreal RR.
and a 3-mile link of its own. In 1876 the company made default on the
1st mortgage interest and foreclosure proceedings were begun, but com
promise was made by giving notes for overdue coupons up to July, 1878.
The city of Portland owned a controlling interest in the stock, $1,052,186, and $1,356,000 of the consol, bonds.
In March, 1884, a foreclosure suit was begun and receivers appointed.
In June, 1885, a decree of foreclosure was made, and a final decreo
filed Dec. 15,1885. and a plan of reorganization was stated in V. 41, p.
421. In June, 1886, the new co npanywas organized as th eP . & O.
Railway Company. Samuel J. Anderson, President. Portland, Me.
Gross earnings in 1884-«5 were $361,993; net, $99,157; gross la
1885-86, $361,376; net, $121,782. (V. 43, p. 211,672; V. 44, p. 119.)
P o r tla n d Sc R o c h e s te r .—Owns from Portland, Me., to Roches
ter, N. H., 53 miles. The old company was put in the hands of a
Receiver February, 1877. Foreclosure suit was begun, but a settle
ment was made in 1881 by which all the old stock ana bonds were con
verted into the stock of the new company. In Nov., 1885, a lease to the
Boston & Maine was made for 50years. Gross earnings in 1885-86,
$191,503; net. $42,594. In 1884-85, gross, $181,900; net, $25,272.
—(V. 43, p. 7 17.)
P o r tla n d Saco Sc P o r ts m o u t h . —Portland, Me., to Portsmouth,
N. H., 51 miles. It was leased May 4,1871, to the Eastern Railroad,
Mass., at 10 per cent on stock. Lease rental changed May 21, 1877,
and now 6 per cent. The Boston & Maine Railroad leased the Eastern
in 1884 with all its leased roads.
P o r tla n d Sc W illa m e tte V a lle y .—Line of road from Portland,
Or., to Dundee, 28 *s miles, connecting with Oregonian Railroad, with
which it has a freight contract for 15 years. Bonds may be redeemed
at 105. Stock, $130,000.
P o r ts m o u t h Sc D o v e r . —Portsmouth, N. H., to Dover, N. H., H
miles. Opened February 1, 1874, and leased for 50 years to Eastern
of New Hampshire at 6 per cent per annum on the stock. Operated
now bv Eastern (Mass.) Frank Jones, President, Portsmouth, N. H.
P o r ts m o u t h O reat F a lls Sc C o n w a y .—Owns from Conway
Junction, Me., to North Conway, N. H., 73 miles. The Eastern Railroad
in Massachusetts has made a lease of the road for 60 years from Dec. 1,
1878, with a guaranteed rental of $45,000 a year, which pays 4*3 per
cent on $1,000,000 bonds, and the stock is to receive the same dividends
as the stock of the lessees. Total stock, $1,150,300, of which lessees
own $551,300.
P o u g h k e e p s ie H a r tfo r d Sc R o s t o n . —Poughkeepsie, N. Y., to
Boston Corners, 40 miles; Stissing to Pine Plains (track rental), 5 miles.
This road was sold in foreclosure Jan. 26, ’84, under the 2d mort.. and
again foreclosed in 1886 under a small 1st mort. to give a clear title to
the property, and in 1887 reorganized as the N. Y. & Mass. RR. Co. In
1885-86, groes earnings, $49,601, net, $4,183. G. P. Pelton, President,
Poughkeepsie, N. Y.
INVESTORS’
9 3
SUPPLEMENT.
[ V o l . XLY.
Su bscribers w i l l c o n fe r a great fa v o r b y g iv in g im m ed ia te n o tic e o f a n y e rro r d iscov ered in these T ables.
Bonds—Prlnel.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
Par Outstanding
For explanation of column headings, &c., Bee notes of
of
Rate per When Where Payable, and by Stocks—Last
Road. Bonds Value.
on first page of tables.
Cent. Payable
Whom.
Dividend.
$500,000
¿Providence A Spring/.—1st M. tend, by City Prov.).
23 1872 $1,000
100
2,500,000
Providence A Worcester—Stock..................... ............
51
1.242.000
1877
Bonds..........................................................................
Too
873.000
Raleigh A Augusta—Stock..........................................
108
1,000
1,000.000
1-86
1st moit., funding coup............................................
1,000
1,000.000
Raleigh A Gaston—1st mortgage...............................
97 1873
650,000
Sheading A Columbia—1st raort, coup, (extended)..
40 1862 lOO&o.
1.000
350.000
2d mortgage, coupon (extended in 1884)...............
40 1864
1,000
1,000,000
Debentures..................................................................
1877
350,000
Lancaster A Reading, 1st mortgage.......................
15 1873 100 &c.
100
Rensselaer & Saratoga—Stock..................................... 193
8,155,300
1,000
1,925.000
1st mortgage, consolidated (for $2,000,000)........
79 1871
1,000
4,982,000
Richmond A Alleghany—1st mortgage, gold............ 252 1880
1,000
4,000.000
Second mortgage, gold............ .............................. 252 1881
.
.
.
.
.
.
.
.
393,000
Car trust certificates.................................................
617.500
Richmond A Danville—3d mort. (consol, of 1867).. 141 1867 100 Ac.
1.000
General mort., gold (for $6,000,000)................ .
141 1874
4,878,000
1,000 - V.7U8.0 0
1882
Debenture mortgage bonds, cumulative.............
__ 1886 1,000
1,154,0 0
Consol, mort., gold ($15,000 per mile)............... .
1,000
Piedmont branch, 1st mortgage..........................
500,000
48 18b8
1,000
Northwestern, N. C., 1st mort., guar.. . . ......... .
500,000
29 1873
1,000
Richmond York River & Ches., 1st mortgage__
400,000
*38 1873
1,000
do
do
2d mortgage
400,000
38 1880
....
do
do
Stock guar. 6 p.
....
497,000
....
••••
Sich’d I rcdericksburg A Potomac—Bonos, ster...
57,327
••••
....
....
Dollar ioan............................................................ .
309,594
....
__
....
....
Coupon bonds of 1890.......................................... .
150.000
Coupon bonds of 1 9 0 1 ..........................................
....
300.000
....
Too
Richmond A Petersburg—Stock............................. .
25
1,000,000
25 1875 500 &o.
Consol, mortgage ($50,000 are 7s).....................
369.000
100
40,000,000
Richmond A West Pt. Ter. B. A W. Co.—Stock___
4,352
__ . . . .
100
Preferred » per cent stock, cumulative.......... ...
5,000;000
1.O00
8,500,000
Collateral truBt bonds, gold (payable at 105»__
. . . . 1887
P r o v id e n c e Sc S p rin g field . —Providence, R. I., to Pascoag, 28
miles. It was proposed to extend the road to Springfield, Mass., 80milep.
Stock is $516,850. In 1884-85, gross earnings. $92,700; net, $45,545;
interest, $36.163, In 1885-86, gross earnings, $102,563; net, $38,032;
interest, $34,890.
P r o v id e n c e Sc W o r ce s te r .—Owns from Providence, R. 1„ to
Worcester, Mass., 44 miles; branches, 7 miles ; total operated, 51 miles.
Notes outstanding are $250,000. Stockholders can subscribe piior to
Feb. 15,1887. for $5> 0,000 new stock at par. In 1885-86 gross earn
ings were +1,245,'. 11 ; net, $371,507. In 1884-85 gross, $1,077,l t 6 ;
net, $321,507. (V. 43, p. 607, 738.)
R a le lg b Sc A u g u sta .—Owns from Raleigh, N. ()., to Hamlet, N. C.,
88 miles; Hamlet to Gibson, 10 miles; leases Monteure to Pitisboro. 12
miles; total, 120 miles. Formerly Chatham Railroad, and is controlled
by Raleigh & Gaston. In 1*86 bonds were issued to redeem preferred
«lock . Gross earnings in 1885-6 were $220,015; net, $69,3-4.
R a le lg b & G aston .—From Raleigh to Weldon, N. C.. 98 miles
and Louisburg branch lo miles The stock is $1,500,000. In April, ’ 81,
3 perct dividend paid, 3 inOot.. 1885, and 2 in April. ’ 86. John M. KobSnson,Pres’t, Baltimore. Gross earnings lor fl cal year ending Sept. 3- .
1886, $467,142; net, $106,582; other receipts, $7u,405; surplus over
Interest and dividends, $36,844.
R e a d in g Sc C o lu m b ia .—Owns from Columbia to Sinking Springs*
Pa., 40 miles; branches, 16 miles; Lancaster & Reading Railroad*
leased, 15 miles; operates Marietta Junction to Chickies, 6 m iles; totai
«oerated, 77 miles. Stock, $958,268. The road is controlled and oper
ated by Philadelphia & Reading, but accounts kept separate. Default
was made in 1886-7 in the payment of intere.-t on the debenture bonds
to the amount of $60,000. The first mort. 7 per cent bonds due 1882
were extended 30 years at 5 per cent, and the 2d 7s due 1884 were ex
tended twenty years at 5 per cent. Gross earnings m 1884-85, $356,108; suiplue, $76,362; 1885-86, gross, $382,358; surplus over interest,
Ac.,$6b,u65.
R e n ssela er & S a ratoga.—Owns from Albany to Lake Cham
plain, N. Y., 79 miles; H oy to Waterford Junction, N. Y , 6 miles
Whitehall. N.Y., to Castleton, Vt., 14 miles; Eagle Bridge to Rutland
Y t , 62 miles; other, 2 miles; leased: Ballston to Schenectady, 15
miles; Fort Edward to Caldwell, 15 miles; total opeiated, 192
miles. It was a consolidation of several lines, and the Delaware &
'Hudson Canal Co. leased the whole March 1,1871, at a rental of 8 per
eent on the stoek and interest on the bonds. In the fiscal year end
in g Sept. 30,1886, the payments by the lessee company for rentals were
$885,187, leaving a surplus of $14,891. From April 1 to June 30 iu
1887 (3 n os.) gross earnings were $569,99*. against $534,115 in 1886;
net, $198,310, against $199,491; deficit under charges, $66,771, against
.$56,090. (V. 43, p. 580; V. 45, p. 18.-.)
R ic h m o n d & A lle g h a n y .—Owns from Richmond to Clifton Forge,
230 miles; branch to Lexington, 19 miles; dock connection, l mile;
leased, Buckingham RR., hew Canton to Arvon, 4 miles; Valley RR. con
nection, 2 mile-; total, 256 miles. The company was chartered Feb. 27,
1879, and acquired by purchase tne properties and franchises of the James
River A Kanawha Canal Co., and the Buchanan & Clifton Forge Railway
«Co., including water rights on James River and terminals in Richmond";
the cost of these in stock and cash was $6,588,609.
The stock is $5,000,600. In May, 1883, default on the mortgage inter
net was made, and on June 23 receivers were appointed. Decree of sale
«expected in October, 1887.
The plan of reorganizaiion as changed in March, 1887. proposed that
tfche new securities be $6,000,000 5 per eeut firsts; $5,060,000 pre
ferred stock, and $5,( 00,CO»-common. In 1888 25$ per cent interest
w ill be paid on the bonds and 5 thereafter. The present lets will get
100 per eent in new rets, 37 per cent in preferred stock and 30 per or.
in common stook. The id s get 53% per cent in prei. rred stock and the
conunon stock gets 70 per cei t in new common, bavins: paid 10 per cent
•ssessment iu all, including $2 10 already paid. The money for the
assessment wiil tie used to pay receiver’s certificates. Earnings from
•operations for three years ending Sept. 30 were:
1884.
1885.
1886.
Grossearn’gs,incl.rents, docks, &o. $604,083
$589,591
$597,048
-Operating expenses.......................... 420,104
4u4,918
438,350
Net earnings...................... ........ $183,: 79
$184,673
$158,698
—(V. 44, p. 5 8 ,11 9 , 435,495.)
R ic h m o n d Sc D a n v ille .—(S ee Map.)—1The main line is from Rich
mond, Va., t« Danville, Va., 141 miles; branches, 12 miles; Danville,
Y a., to Greensboro, N. C., 47 miles; Salem Junction, to Salem, 25 miles.
"The whole system operated is given unuer the R. ^ »V. p. Terminal Co.
In April, 1*86, the Virginia Midland RR. w s teased for 99 years, and
the Columbia & Greenville, Charlotte Columbia & Augusta, and Western
Worth Carolina also leased for 99 years. Tlio Piedmont RR. is virtually
owned and the Northwestern North Carolina also owned. The Rich.
York R.& Chesapeake is leased in perpetuity. The Richmond & Danv.
Extension Co. was organized to bnild Georgia Pacifio RR., and large
«advances were made to it by the Richn ond & West Point Terminal Co.
In Nov., 1886, negotiations led to a sale of a large majority of the R. A
D . stock to the Tcrmii ai Company, which then became the principal
-corporation, and afterward, in Feb., 1887, exchanged its own stock for
ih e R. & D. stock in the proportion of four shares of Terminal for one of
7
6
6
8
5
5
6
7
4
7
7 g.
6 g5
6
6 g6
5 g8
6
8
6
3
5 g.
5, 6 ,7
8
6
3
6&7
2»a
J. & J. Providence,Am. Nat.Bk July 1, 1892
J. & J.
Providence, Office.
Ju y 1, 1887
A. & O. Providence R. I.H.T.Co.
1897
J. & J.
J. & J.
M. & S.
J. & D.
J. & D.
J. & J.
J. & J.
MAN.
J. A J.
M. A N.
....
M A N.
J. A J.
A. A O.
A. A O.
A. A O.
A. A O.
J. A J.
M. A N.
J. A J.
J. A J.
J. A J.
J. A J
M. A N.
J. A J
M. A N.
6 g. F. A A.
Jan., 1926
Jan., 1898
Mch. 1, 1912
June 1,1904
Dec. 1, 1917
July 1, 1893
July 1, 1887
Nov., 1921
July 1, 1920
May 1, 1916
1890 to 1895
N. Y., Central Trust Co. May i , 1890
do
do
"1915
do
do
do
do
Obt. 1,1936
N. Y., Cent. Trust Co.
L888
Richmond.
1902
do
Jan. 1, 1804.
do
N. v. l', 1900
July 1, 1887
London.
ls d i
Richmond, Office.
1895-’99-l 902
Phil.,Townsend W. A Co.
1890
Richmond, Office.
1901
Richmond, Office.
July 5, 1887
do
do
May 1, 1915
Phila. .Pa.,A Ral’gh,N. C.
Phila., Co.’s Office.
do
do
do
do
do
do
N. Y., Nat. B’k Com’ree.
N.Y., Del.A H.Canal Co.
Last paid Jan., 1883.
Last paid Nov., 1882.
N. Y., Central Trust Co.
do
do
July i .
Feb. 1,1897
Richmond & Danville. The R. & D. stock ($5,000,000) was thus taken
and held by the Terminal Co.
The total authorized issue of general mortgage bonds iu $6,000,000
of which part is reserved to take up prior Liens and the Piedmont RR*
bonds. The interest on the Debenture bends was strictly cumulative and
tt.ey carry unpaid the coupon of Oct., 1883, and all since, making 24 per
cent April, 1887, and a proposal was nade to the holders to issue
to them in exchange for these coupons 24 per cent in new consol, mort
5 per cent gold bends. The consolidated gold mortgage of 1*86 was
issued for an authorized amount of $11,220.000 to take up the *en. mort
gage bonds, the debentures >nd their overdue interest, and the Northv ©stern N. C. RR. bonds, guaranteed. Also further issues at $ 15,000 per
mile can be made to retire bond of leased lines. (See V. 43. p. 275.)
The annual report for tne year ending Sept. 30,1886, was published
in the Ch ronicle , V. 43, p. 717, containing the following :
m '2 ,
1885-86.
18*4-85.
1883-84.
Total receipts.......... ............ $4,012,028
$3,999,147
$3,834,737
Operating expenses.......... ... 2 ,12 1,553
2,231,486
2 218 977
Net receipts.................... $1,89« ,475
INCOME ACCOUNT.
1885-6.
Net revenue for the y e a r ........ $1,890,475
Interest on debt, rentals, & c... *1,467,658
$1,767,661
$1,615,760
18*4-5.
$1,767,661
*1,483,097
1883-4.
$1,617,358
*1,470,908
Balance over all ch arges........ $422,817
$284,564
$ 36,450
* The int. charge on debent’s Is Included here in full, but it was not paid.
-<V. 43, p. 73, 163, 275, 516, 548, 635, 7 1 7 , 738; V. 44, p. 185, 308,
335, 435.)
R ic h m o n d F red erick sbu rg ; Sc P o to m a c .—Owns from Rich
mond, Va., to Quantico, 82 miles. In November, 1881, there were
voted dividend certificates for $755,039 to he issued t< holders of com
mon stock (70 percent on each share), to represent money spent on
the property out of earnings, and afterwards a similar issue on guaran
teed stock. The common stock is $1,030,100; guaranteed stoek, $500,400 (6 percent except $19.000 guar. 7 per cent), and “ dividend obliga
tions” $1,066,500. A dividend of 3 per cent was paid on common
stock July, 1887. In year ending Sept. 30, 1886, gross earnings were
$505,412; net, $233,876; interest and guaranteed dividend charges, $85,204: balance net surplus, $148,672. In 1884-85 gross earnings, $471,
913; net, $191,815; interest paid, $50,624; guar, dividend, $34,835
surplus. $106,357. (V.43,p. 6 7 0 .)
v •
R ic h m o n d Sc P etersb u rg .—Owns from Richmond to Petersburg,
Va.. 23 miles; branch, 2 miles; total, 25 miles. The road has earned
moderate dividends and the debt account .is very small. In 1885-86
gross earnings, $207,454; net, $95,598. In 1884-85, gross, $192,650;
net, $95,168. V. 43, p. 717.)
R ic h m o n d Ac W est P o in t T e r m in a l R a ilw a y
Sc
W a re
h o u s e C o.—(See ifa p .)—ih e mileage controlled and operated In Aug..
1887, wasasiollows:
*'
R ichmond & D an vil le S ystem .—Richmond & Danville and Piedmont
RR. and branches, 208 miles: Riohm’d York River a dies. RR.. 39 m.;
Northwestern No. Carolina RR., 25 m.; No. Carolina RR. aud State Unive sity RR., 232 m.: Atl nta & Charlotte Air Line R'way aud b anches,
288 m.; Virginia Midland R’ way, 413 m.; Wash’n Ohio & West’nRR.,
50 m.; Wesi’n No. Car. RR.. 290 m.; Char,. Col. & Aug. RR.
d leased
lines, 373 m.; Col. & ureenv R R „ leased lines and branches, 298 m ;
Asht-ville & Spartanburg R R , 70 m.; Knoxv. & Aug. RR., 16 m.; Rich.
& Mecklenburg RR., 31 m.; Georgia Pac. R’way, 3*2 in ; Northeastern
RR. of Georgia. 6 1 m ; total Rich. & Danv. system, 2,774 miles.
E ast T ennessee V ir g in ia & G e o r g ia System . - East Tenn. RR.,
Bristol to Cuattan’ga, 242 miles; No. Car’na RR., Morristown to Unaka,
43 5 m.; Knoxv. & o . RR.. Knoxv. to Jt-llieo. 65 5 m.; Ooltewah Cut-off,
11-5 m.; total East Tenn Div., 362*5 miles; Cleveland to Seuna, 264 m.;
Melma to Meridian. 113 m.; total Alabama Div , 377 miles; Atlanta Div,,
Rome t»> Macon. 1 8*5 m.; Brunswick Div., Macon to Brunswick (and
Hawkinsville branch), 200 m.: total Georgia Div., S58-5 miles; Mobile
a Birmingham R ’ way, 1 0 m.; Memphis & Charleston R it.. Chattanooga
to Memphis, and branches. 330 in. ; iota! East Tenn. Va. & Ga. ,ystem,
1,578 miles. G r an d T o tal o f a l l M ileage , 4,362.
This com pany was incorporated by an act of the Legisl « ture of Virginia
of March 8 , 1880. It was the auxiliary corporation of the Richmond A
Danville RR. Co., controlling several stocks by ownership of a majority.
In November, 1886, the Terminal Company purchased a large major
ity of the R. A D. railroad stock, and a new board was elected. It was
voted in December to issue $5,000,000 of pref. Terminal stoek, secured
by the deposit in trust of 25,000 shares of R. A D. stock; and afterward
the common stock was increased t o $40,000,000. In Jan., 1*87, $6,000,000 of the East Tenn. Va. & Ga. first pref. stock was bought, giving con
trol of that Co. for five years (unless 5 per cent dividends per annum
are paid on that stock for two years), and the balance of Rinhm &
Danv. stock was taken. See terms of this negotiation in V. 44. d. 119.
See V. 43, p. 635.
v
The report in March, 1887 (V. 44, p. 401), showed that the Richmond
& West. Point. Ter. R. AWareh. Company then owned the 1olio wing
stocks, viz. : Of its own stock. $28,633 pref. and $3,579,600 common
(to be exchanged for Richmond & Danv. stock, of which $2,499,000 to
be pledged); also, $4,230,100 of Rich. & Danv. RR. stoek, $6,500,000
(*$6,000,000 pledge j), of East Tenn.Va. & Ga. 1st pref.; $2,611,650 Rich.
& Danville Extension Co.; $24,800 of Am. Construction Co.; $120,000
RAILROAD STOCKS ¿ N D BONDS.
1887.]
S eftem bee ,
INYESTOES’
SUPPLEMENT.
[VoL.
xly.
S e p t e m b e r , 1887.]
KAILKOAD STOCKS AND BONDS.
95
Subscribers w ill co n fe r a grea t fa v o r b y g iv in g im m ed ia te n o tic e o f any error d iscov ered in these T ab les.
Bonds—Princi
DE8CR li ’TION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount
of
Rate
per
For explanation of column headings, &c., see notes of
Par
When
Where
Payable,
and
by
Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
on first pag? of tables.
Whom.
Dividend
Rochester & Genesee Talley—Stock.............................
Rochester db Pittsburg—See Buffalo R. & P.
Rock Island db Peoria—Stock.......... . ...........- ..............
1st mortgage......................................................... .
Consol 1st mortgage..................................................
Rome db Carrollton—1st mort., gold............................
Rome db Decatur—1st mort., go.d ($15,000 p. m .)...
Rome Watertown db Ogdensburg —Stock.....................
1st sinking fund mort;, Wat. & R. (extended).......
1st mort., sink, fund (2d mort, on 91 miles)..........
2d mort. (3d mort, on 91 m iles).............................
Consol, mort., (extended July, 1882, at 5 per ct.).
Syracuse Northern (gold).........................................
Rutland—Stock, common............................................
Stock, preferred..........................................................
General mort. (8 per cent, reduced to 6)................
New 2d mort, in exch. for equipment bonds, &c.
Sacramento db Placerville -1st mortgage (S. V. RR.).
1st mortgage (S. & P. RR.).......................................
Saginaw Talley db St. Louis.—1st mortg., coup........
St. Johnsbury dbL. Champlain—1st M.,coup. orreg.
Consolidated mortgage (for $1,000,000)...............
St. Joseph db Grand Island—S tock ............................
1st mort., gold, interest guar, by U. P ....................
2d mortgage, income........ ......................................
Bonds on Kan. C. <& Om. RR. ($15,000 per mile)..
St. Joseph db St. Louis—Stock......................................
St. Louts Alton db Terre Haute—Stools........................
Pref. st’ck (7 cumulative).........................................
1st mortgage (series A) sinking f ’d (see next page)
1st mortgage (series B) sinking f ’d l Cp.; or may (
2d mortgage, preferred (series C).. >be reg. by <
2d mortgage, preferred (series D).. ) endorsem’t L
18
113
91
113
22
25
656
97
190
190
409
45
135
120
120
....
48
36
120
....
....
252
252
76
381
381
207
207
207
207
—
1878
1885
1885
lsS6
1855
1861
1872
1874
1871
....
1872
1878
1855
1877
1872
1880
1884
.. . .
1885
1885
1887
... .
1862
1862
1862
1862
$552,200
$100
25,600
5,000
100 &e.
1,000
100
100 &c.
500 Ac.
1,000
1,000
1,000
....
100 &o.
100 &c.
1,000
1,000
1,000
1,000
1,000
i,6 öo
1,000
500 <fec.
100
100
100
1,000
500&C.
1,000
1,000
Northeastern Railroad of Georgia, $3,168,300 Western North Carolina
RR. common and $3,168,300 pref.; $100,000 Knoxville & Augusta RR.,
$1,302,400 Charlotte Columbia & Augusta RR., $3,577,333 Virginia
Midland Railway (of which $3,100,000 i lodged), *$1,001,000 Columbia
& Greenville RR., $49,000 Dan. Mock. & So. W. RR., $300,000 Rich
mond & Mecklenburg RR., $103,900 Rabun Gap Short Line, $3,133,980 Georgia Pac. Railroad, $1.500,000 Wash. O & West.; and the fol
lowing bonds: $100,000 Knoxville & Augusta 1st mortgage 6 per cents,
$368,000 Spartanburg & Asheville 1st mortg. 6 percents, *$1,325,000
Western North Carolina 1st consol, mortg. and *$4,110,000 2d mortg.,
*$1,603,553 Virginia Midland 6 per cent incomes, $315,000 Northeast
ern of Georgia general mortg., *$1,778,155 Georgia Pacific 2d incomes,
and $299,000 Blue Ridge RR., $4,100 miscellaneous county and
township bonds, $ >25,000 Wash. O. & West. 6 per cent income bouds,
$50,000 Georgia Pacific equip, trust bonds. Total securities owned as
above, $10,577,808 bonds, $9,697,933 pref. stocks and $24,801,063
common stocks; grand total. $45,076,804. Of these, $21,416,00u (in
cluding those marked with a star) were deposited with the Central Trust
Co. of N. Y. as security for the $8,500,000 of its collateral trust bonds
outstanding; those bonds maybe redeemed on notice at any lime at 105.
The prices ot common stock have been as follows: 10 1881,122®
174%; in 1882, 23®263; in 1883, 21®89; in 1884, 1'2®32: in 1885,
1838®4314 : in 1886, 27J4®7714 ; in 1887 to Sept. 16 ind., 22%®53.
Pref. in 1*87 to Sept. 16 incl., 5 1 ® 8 /1a. (V. 43, p. 487, 516, 6o9, 635,
719; V.44, p. 22, 91, 119,149, 2l>4, 212, 309, 343, 401, 435, 459, 752.)
R c c h e ster Sc G enesee V a lley,—Owns from Avon to Rochester
N. Y., 18 miles. This road was leased July 1,1871, in perpetuity, to
Erie Railway, and now operated by New York Lake Erie & Western.
Rental, $34,012. James Brackett, President, Rochester, N. Y.
R o c k Is la n d Sc P e o r ia . —Owns from Rock Island, HI., to Peoria,
Hi., 91 miles; Rook Island & Mercer Co. RR., 22 miles; total, 113 miles.
The Peoria & Rock Island was sold in foreclosure April 4, 1877,
the bondholders becoming the purchasers. Gross earnings in 1884-5,
$376,448 ; net, $111,262, out of which 5 per cent dividend paid. Gross
in 1885-86, $495,867; net, $113,008; dividend paid, 5 per cent.
R o m e Sc C a rro llto n . —Road completed from Rome, Ga., to Cedartown, 22 miles, and projected t*Carrollton, Ga., 140 m. Stock, $600,000.
R o m e Sc D eca tu r—Road in progress from Rome, Ga., to Decatur,
Ala., 145 miles, of which 25 miles from Rome are finished. It is
bonded at $15,000 per mile standard gauge road. The bonds were
offered in New York by Grovesteen & Pell. (V. 45, p. 34L.)
R o m e W a te r to w n Sc O gd en sb u rg .—(See Map.)—From Niagara
Falls to Massena Springs, 301 miles; Lewiston Junction to Lewiston, 3%
miles; Syracuse to-tandy Creek, 44 miles; Richland 10 Rome, 41 miles;
Watertown J unction to Cape Vincent, 24 miles; DeKalb Junction to
Ogdensburg, 19 miles; Rochester to Windsor Beach, 7 miles; Syracuse
to Oswego, 36 m iles; Utica to Ogdensburg, 134 miles; Carthage to Sacketts Harbor, 3 o miles; Theresa Junction to Clayton, 16 miles; total,
656 miles. The Lfciea & Black River road and branches were leased in
April, 1886, the R. W. & O. guaranteeing fixed charges and 7 per cent
per annum on the stock.
The R. W. & O. was a consolidation Oct., 1861, of the Watertown &
Rome and the Potsdam & Watertown railroads. The Lake Ontario Shore
Railroad was acquired January 15,1875; the Syracuse Northern, Aug.
1,1875. The Oswego & Rome was leased January 1,1866, at 8 per cent
on stock and interest on bonds. The Niagara Falls Br»nch road was
leased Nov. 1, 1881, at 7 per cent on its stock of $250,000.
In April, 1886, the income bonds were offered an exchange of 40 per
cent in the 5 per cent consol, mort., due 1922, and 60 per cent in stock,
and the bonds have been about all exchanged.
From O t. 1, 1886 to June 3 0 ,18»7 (9 months), gross earnings (in
cluding Utica & B ack River) were $2,170,598, against $1,973,484 in
1885-86; uet, $926,830, against $792,262.
Earnings, expenses and charges in i8 8 ¿-6 and 1884-5 were as below
including the Utica & Black River for six months in 18 35-6:
%
,
1885-6.
1884-5.
Gross earnings............................................ $2,406,793
$1,702,732
Net in com e................................................
$941,244
$563,141
Interest and ren tals..................................
693,480
547,692
1,500,000
150,000
450,000
150,000
375,000
5,390,100
418,100
1,021,500
1,000,000
6,457,000
500,000
2,480,600
4,000,000
1,500,000
1,500,000
400,000
700,000
446,000
628,000
400,000
4,600,000
7,000,000
1,680.000
440,000
923,000
2,300,000
2,468,400
875,000
689,000
1,400,000
1,400,000
3
2%
10
6
6 g*
6
3%
6
7
7
5
7
75 cts.
6
5
10
6
8
6 g.
5
J. & J. N.Y.,byN.Y.L.E.&W.Co
J. &
J. &
J. &
J. &
J. &
J. &
M. &
J. &
J. &
A. &
J. &
N. Y., Com Exch. Bank. July 1, 1887
do
do
Jan. 1,1900
do
do
Jan. 1, 1925
N. Y., S. Borg & Co.
Jan. 1,1916
N. Y., Amer. L’n &Tr. Co. Deo. 1,1926
N. Y. Office, 5 Pine St. Aug. 15,1887
N. Y., Central Trust Co. Sept. 1, 1910
do
do
Deo. 1. 1891
do
do
Jan. 1, 1892
do
do
July 1, 1922
do
do
July, 1901
F. & A.
M. & N.
F. & A.
J. & J.
J. & J.
M. & N.
A. & O.
Q .-J .
Aug. 1,1887
Bost.,Columbian N. Bk. Nov. 1, 1902
do
do
1898
N. Y. Central Pac. RR.
1875
do
do
1907
Boston, C. Merriam, Tr. May 1, 1902
Bost., Am. L. & Tr. Co. Oot. 1, 1910
Boston.
April 1,1914
6 g. M. & N.. N. Y., Central Trust Co.
5
J. & J.
do
do
5
J. & J.
do
do
3
2%
7
7
7
7
July 1, 1887
J.
J.
J.
J.
D.
J.
S.
D.
J.
O.
J.
J.
A.
F.
M.
&
&
&
&
J.
O.
A.
N.
May 1, 1925
July 1, 1925
Jau. 1,1927
April, 1884
N. Y., Office 34 NassauSt. May 1,1886
do
do
July, 1894
do
do
July, 1894
do
do
1894
do
do
1894
mento Valley and the Folsom & Placerville railroads, April 19, 1877.
Capital stock, $1,756,000. Leland Stanford, President, San Francisco.
S a g in a w V a lley Sc St. L o u is .—Owns from Itliaca to Pains, 36
miles, and leases Alma to St. Louis and Pains to Saginaw, 9 miles; total,
45 miles. Opened January, 1873. Capital stock, $264,804. In 1886,
gross earnings were $90,131; net, $7,848. In 1885, gross, $74,941 ;
net, $22,909; interest payments, &c., $35,680. In July, 1879, manage
ment was transferred to the Detroit Lans. & No.
St. J o k n s b u r y & L a k e C h a m p la in .—Owns from Lunenburg
Vt., to Maquam Bay, on Lake Champlain, 120 miles, and branoh from
No. Concord, Vt., to East Haven, 11 miles; total, 131 miles. This was
the Portland & Ogdensburg, Vermont Division, and was reorganized
under this title in 1880. Preferred stock, $1,298,500; common stock,
$2,550.000. In March, 1884. voted to issue the consolidated bonds, of
which $600,000 are reserved to take up its first mortgage bonds.
Operated by Boston & Lowell as its Vermont Division, and all but$41,~
000 of the 5 per cent bonds issued are held by that company.
St. J o s e p h Sc G ra n d I s la n d .- (See Map o f Un. Pac.—Lineofroad,
St. Joseph, Mo., to Grand Island, Neb., 253 miles; Fairfield to Alma, 185
miles, building. This company was organized in June, 1885, as suc
cessor of the St. Joseph & Western, sold in foreclosure, and includes also
the Hastings & Grand Island RR. and the bridge at 8t. Joseph. The
road is operated by the Union Pacific, which companv guarantees the
interest on the 1st mortg. bonds. (See terms, &c.,V. 40, p.764.) InSept.,
1886, it was proposed to begin the construction of branch roads, with
bonds at $15,000 per mile, as per circular in V. 43, p. 399. James H.
Benediot, President, New York. In 1886 gross earnings were $1,169,425; net, $506,962; def. under interest, &c., $9,172. Prom Jan, 1 to
May 31 (5 months), 1837, gloss earnings were $453,410 against $458’ 907 in 1886; net, $168,948, against $215,387. (V. 43, p. 24.133.
275, 399, 431, 460, 548; V. 44, p. 23, 60, 185, 300, 466, 5z7; V. 45^
p. 113.)
St. J o s e p h Sc St. L o u is .—St. Joseph, Mo., to No. Lexington, Mo.,
76 miles. This was the successor to the St. Louis & St. Joseph
Railroad, sold in foreclosure February 8,1874. The St. Louis Va-nang
City & Northern had a lease of the road, but in July, 1886, the road
went back to its owners. Winslow Judson, President, St. Joseph. Mo.
—(V. 43, p. 103; V. 44, p. 149.)
St. L o u is A lto n Sc T e rre H a u te .—Owns from Terre Haute.
Ind., to East St. Louis, 193 miles; proprietary line, East St. Louis to
Belleville, 14; leased lines—Belleville & Southern 111. RR., 57: Belleville
& Eldorado road, from Du Quoin to Eldorado, 50; Belleville & Carondel>*t RR., from Belleville to East Carondelet,' 17; St. Louis Southern,
Carbondale to Marion, 5 0 ; total, 381 miles. This company was a reor
ganization, Feb. 18,1861, of the Terre Haute Alton & St. Louis RR.
The Bellev. & So. Illinois is leased to this company for 999 years from Oct.
1,1866, and the Bellev & Carondelet for 983 years from Jan., 1883, at
a rental of $30,000 per year, which is a guarantee of int. on the bonds;
the stock of $500,000 is owned by the St. Louis A. & T. H. The St. Louis
Southern RR. and leased lines, 50 miles, was leased in Dec., 1886, for
30 per cent of gross earnings, minimum to be $32,000. The mnir»
line (St.L. Alton & T. H.) was ceased Nov. 1, 1882, to the new Indianap.
& St. L. Railway and the Cleve. Col. Cin. & Indianapolis jointly. Under
this new lease the rent guaranteed is $450,000, and that amount is all
that is to be paid unless the gross earnings exceed $1,750,000 in any
year ending Oct. 31, and then 20 per cent is to be paid of the excess of
gross earnings over $1,750,000.
The Belleville Branoh and Extension are operated separately by this
company. The Belleville & Eldorado was leased for 985 years from
July 1,1880, at a rental of 30 per cent on the gross earns., but $15,400
per year guaranted. The Belleville & Carondelet is leased at $30,000
per annum.
The Chicago St. Louis & Paducah road is leased for 980 years at 30
per cent of gross earnings, with guarantee of rental to pay 1st mortgage
inteiest.
Dee. 31,1886, sinking fund held of the first mortgage bonds $636,000
and $434,519 cash. The preferred stock has a prior right to a cumula
tive dividend of 7 per cent before any is declared on common. It is
also convertible into common at pa r; but shall not receive any dividend
as common stock for the time it was held as preferred. In Jan., 1881,
the company declared 3 per cent in cash on the preferred stock and
Surplus for year........ ............. ; ...........
$247,764
$15,449 afterward settled the remaining 55 per cent of accumulated dividends
Charles Parsons, N. Y., President.
by the issue of income bonds.
The annual report for 1886 was in V. 44, p. 550.
—(V. 43, p. 217, 218,245,488, 635, 747; V. 44, p. 91,119, 244, 752;
The Cairo Short Line Division, including the roads direotly operated
V. 45, p. 113, 212, 240.)
*
by this company, made the following exhibit:
R u t l a n d . —Owns from Bellow’s Falls, Vt., to Burlington, Vt., 120
EABNINGS. EXPENSES AND BENT OP LEASED LINES.
miles; leases Addison RR., 15 miles; total, 135 miles. This road has been
through many changes. It was leased to the Cent. Vermont in Dec.,1870,
1883.
1884.
1885.
1886.
for 20 years, but the lessee became insolvent, and finally a modification Gross earnings.............. $832,468
$741,050
$766,316
$803,991
of the lease was made, giving $250,000 per year as a minimum rental Oper. expen. and taxes.. 425,635
406,160
397,347
408,896
and $8.000 for organization expenses. 1516 5 per cent 2ds are a first
mortgage on rolling stock and personal property. The annual report
Net earnings............. $4o6,833
$334,989
$368,969
$395,095
for 1886-87 with it come account wa# in V. 45, p. 112. (V. 43, P. 72, Rent leased roads.......... 200,897
203,971
203,381
214,482
V. 45, p. 1 1 2 .)
*et revenue.............. $205,935 $131,018
$165,587
S a cra m en to Sc P la c e r v ille .—Owns from Sacramento, Cal., to
$180,613
Shingle Springs, Cal. 48 miles. This was a consolidation of the Sacra —(V. 43. p. 719; V. 44, p. 5 5 0 , 752; V. 45, p. 166, 273.)
96
INVESTORS’
SUPPLEMENT.
[Vol. XLY,
MAP OF THE
ST. LOUIS & SAN FRANCISCO
RAILWAY
AND ITS CONNECTIONS.
RAILROAD STOCKS AND
BONDS.
Projected R.R.
S eptem ber,
1887.J
ATLANTIC
CONTINUATION
or THE
ATLANTIC * PACIFIC
RAILROAD
and connections .
R educed S ca le,
98
INVESTORS’
SUPPLEMENT.
[y
öl.
XLV.
Subscribers w ill confer a great favor by giving Immediate notice ot any error discovered In tbese Tables.
DESCRIPTION.
For explanation of column headings, &c., see notes
on first page of tables.
Bonds— Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per
Pai- Outstanding
of
of
I When Where Payable, and by Stocks— Last
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
BU Louis Alton <£ Terre Haute—(Continued).
2d M., Incomes, cp., or may be reg. by endorsem’ t
Dividend bonds, Income not cumulative................
Belleville & Carondelet, 1st mort................... ........
17
Chic. St. Louis & Paducah, 1st mort., guar............ ....
2d mortgage, income........................................... .
St. Louis Arkansas <t Tea:««—Stock............................ 955
St. L. Ark. & Texas, l s r M., gold ($13,000 p. m.).. 955
2d mort. (income till ’89), gold............................ 940
St. Louis <&Cairo—1st M., income (not cumulative) 144
1st mort., guar., M. & O. (for $4,000.000)............
161
St. Louis <L Chicago.—1st mort., g. ($10,000 p. m.) .
50
St. Louis Ft. scott <&Wichita—1st M. ($15,000 p. m.) 251
2d mort. ($5,000 p. m.)........................ .................. ....
St. Louis <t Hannibal—1st mortgage ($600,000)___
85
St. Louis Keokuk, <&N.W.—1st mortgage, gold...........
135
Income bonds.............................................................
135
St. Louis <t San Iraneisco.—Stock, com m on............ 1,316
Preferred, 7 per cent, not cumulative....................
1st preferred, 7 per cent, not cumulative............... __
1st mortgage (South Pacific), gold, (land grant)... 293
2d mortgage bonds, A, gold.....................................
293
do
do B, gold....................................
293
do
do C, gold...................................... 233
Equipment mortgage, gold....................................... ....
Mortgage on Mo. & Western RR., gold.............. .
84
Collateral trust bonds, g o ld .....................................
100
St. Louis Wichita & W est, 1st mort., gold, guar... 145
Gen. M., gold, coup, or reg (a 2d M. on 293 miles) 364
Equipment Trust....................................................... . . . .
Kansas C. & Southw.. 1st M., gold ($12,000 p.m.).
63
St. L. Kan. & S. W., 1st M., g. guar.($15,000 p. m.)
55
Ft. Smith & Van Bur.B’dge. lsr, mort.. g<*ld. truar. . . . .
1862 $500&c. $1,700,000
7
M. & N. N.Y., Office 34 NassauSt.
1894
....
1,357,000
1881
6
June 1
do
do
Jan. 1, 1894
1883
1,000
485,000
6
J. & D
do
do
June 1, 1923
1,000
1,000,000
1837
5 g.
do
do
1917
1,000
500,000
5
1917
100 10,428,400
1,000 12.389.000
1886
6 g. M. & N. N. Y., Central Trust Co. May 1 , 1936
1,000
1886
9,529,000
6 g. F. & A. Mercantile Trust Co.
May 1, 1936
1,000
1881
2,600,000
5 g. A. & O. New York or London.
1921
1,400,000
1886 500 &c.
4 g. J. & J. N. Y., Farmers’ L. & Tr. Jan. 1, 1931
1,000
500,COO
1885
New York.
July 1, 1915
6 g- J. & J.
1,000
1880
4,49-»,000
7
A. & O. New York, Moran Bros. Oct, 1, Í9ÍÓ
....
1.000
1,000 000
6
M. & N. Mercantile Trust Co.
Nov. 1, 1910
....
370.000
1886
7
J. & J.
1936
1,000
1876
1,620,000
7 g. J. & J.
Jan. 1, 1906
1,000
1876
1,080,000
J. & J.
7
Jan.
1, 1906
....
11,845,900
9,768,400
....
....
4,500,000
3*2 F. & A. N. Y ., Office 15 Broad St. Aug. 10,1887
7,144,500
1868 500 &c.
6 g. J. & J.
do
do
1876 100 &c.
500,000
6 g. M. & N.
do
do
Nov: i , 19Ö6
1876 500 &c.
2,766,500
do
6 g. M. & N.
do
Nov. 1, 19Ò6
1876 500 &c.
2,400.000
do
do
6 g- M. & N.
Nov. I l 19Ô6
1,000
1880
651,000
7 g. J. & D.
do
do
June 1, 1895
1,000
1879
1,090,000
do
6 g. F. & A.
do
Aug. 1, 19Í9
1,000
1,224,000
1880
6
F. & A.
do
do
....
2,000,000
1879
6
M. & S.
do
do
Sept.", 1919
1,000 12,739,000 5 & 6 g." J. & J.
1881
do
do
July Í 1931
....
1884
349,000
6 g. A. & O.
do
do
1,000
744,000
1886
6 g. J. & J
do
do
Jan. 1, 1916
1886 11.000
835,000
do
do
6 g. M. & 8.
Sept, i , 1916
1.000
475,000
1885
6 t. A. & O.
do
do
April 1. 191Ò
St. L o u is A rk a n sa s Sc T e x a s .—(See Map.)—Road frmn Birds
Point, Mo., opposite Cairo, 111., to Texarkana, Tex., 418 miles, and
thence by the Texas road to Gatesville, 305 miles; total, main line, 723
miles; branches, Paw Paw Junction to New Madrid, 6 miles; McNeil
to Magnolia, 7 indies; Sherman branch, 115 miles; Tyler to Lufkin, in
Texas, 90 miles; total, Aug. ’87, 940 miles. Branches and extensions are
In progress. The road w as opened, in 1883. The road in Texas was
foreclosed December 1,1885. Ihfe Missouri & Arkansas Division was
sold on Feb. 27,1886. The present organization, wnion was formed in
1886 after the foreclosure of the Texas & St. Louis, consists of two
corporations, the one owning the road in Missouri and Arkansas and
the other the road la Texas. By the laws of Texas, railroads within
that 8tate cannot be consolidated with other roads outside the State,
therefore it was provided that the Co. in Mo. and Ark. should issue its
stock to the Co. m Texas, and the latter Co. should issue its own certifi
cates for such stock.
The new companies issue six per cent 50-year first mortgage bonds
to amount of $13,000 per mile; six per cent 50-year second mortgage
bonds, $13,0( 0 per mile ; and stock $13,000 per mile. Bonds and stock
on future extensions authorized at the same .rate. The stock issued by
the Missouri and Arkansas Company was transferred to the Texas Com
pany, which latter has issued its own stock for the same. Till 1891 the
control of the entire road is to be vested in the committee, and for this
purpose the stock is deposited with a trust company. For stock so deiosited negotiable certificates are issued, and designated as “ stock
rust certificates.” The first mortgages of the oompames in Mo. & Ark.
and in Texas are deposited with the ventral Trust Co.; the 2d morts. of
both divisions are deposited with the Mercantile Trust Co., and each of
these trust companies has issued against these mortgages so held its
coupon trust certificates for $ 1,000 each, entitling the holder of each
class to the security of the mortgages on botn the Mo. & Ark. and the
Texas divisions. These are the certificates dealt in at the Stock Ex
change. In 1885 gross earnings were $1,300,828; net, $67,644. In
*86 gross earns.were $1,829,058; net, $34o,67o. (V. 43, p. 50, 103, 275,
459," 488, 608; V. 44, p. 91,149, 459, 654, 681, 804; y . 45, p. 85,211.)
St. L o u is Sc C a iro. —This road extends from Cairo to East St. Louis,
152 miles, with a branch to High Prairie, 9 miles. The former Cairo &
fit. Louis made default April 1, 1874, and was sold in foreclosure July,
1881. Stock is $6,500,000. In Jan., 1886, alease was negotiated for
45 years to the Mobile & Ohio RR. on the basis of a rental of 25 per
cent (1B°64o) of the gross revenue of the whole line, MoMle to St.
Louis, this rental being guaranteed by the lessee to amount to $165,000
per year. The issue of $2,600,000 income bonds was to be retired with
part of the $4,000,000 mortg. bonds, which are guaranteed by the M. &. O.
St. L o u is Sc C h ica g o .—Owns from Springfield to Litchfield, 111., 50
miles; to De extended in 1887 to Pekin, 111., 10 a junction with the new
Atchison line, with which line it will work in close harmony. From
Litchfield to St. Louis trains run over the C. C. C.& I. tracks under a
traffic agreement. The road is reported as costing $14,000 per mile,
while the bonds are issued at $10,000 per mile. F. C. Hollins & Co.,
N. Y., negotiated the bonds.
St. L o u is F o r t S cott Sc W ic h it a . —(See Map. o f Mo. Pac.)—krom
Fort Scott to Anthony, Kan., 244 miles; GilflUan Spur, 2 m.; Eldorado to
McPherson, Kan., 62 m.; total, 306 miles. Stock, $6,614,885. Gross
earnings in 1885, $663,051; net, $152,282; def. under int., &c., $84,459.
Gross in la 86. $783,033; net. $1-8,927; def. under int., $152,889. See
Statement in Mo. Pac. report, Y. 44, p. 400. Road sold May 23, ’87, and
bought in the interest of Missouri Pacific. (V. 43, p. 459, 635; V. 44. n
149, 400, 527, 714; V. 45. p. 65.)
St. L o u is & H a n n ib a l.—Owns from Hannibal, Mo., to Gilmore, on
wabashSt. Louis & Pacific, 82 miles; uses 2*2 miles Missouri Pacific
track; total operated, 84tg miles. This company is successor to the
former St. Louis Han & Keokuk, sold in foreclosure Dec. 8,1885. The
rincipal owners were Mr. John I. Blair and the estate of Moses Taylor
i New York, who became the purchasers. The stock is $1,000.000 au
thorized and $452,000 issued. Gross earnings in 1885, $106,969 •
operating expenses, $216,049; deficit. $109,081. Gross earnings i n ’86
were $121.3o7; net, $30,130; surplus over interest, $4,230. John I
Blair, President.
St. L o u is K e o k u k Sc N o rth w e s te rn .—Owns from Keokuk,
la ., to St. Peters, 135 miles; leased Keokuk to Mt. Pleasant, 49 miles •
and uses Wabasu tracks from St. Peter’s, Mo., to St. Louis, Mo., 31miles;
total operated, 215 miles. The Miss. Val. & Western RR. was sold April
14,1875, and this company organized July 1,1875. Scock, $2,700,000,
erf which $1,350,000 is preferred. A foreclosure suit was again begun
in June, 1887. Gross earnings in 1885, $585,247: net income, $82,441;
payments (no interest paid), $116,984; deficit, $34,543. W. W. Bald
win, Pres’t, Burlington, la. (V. 44, 782.)
St. L o u is Sc San F r a n c is c o .—("Nee map.)—L in e of R oad —This is
* considerable system of railroads, forming part of a through route to the
Pacific coast. The main line is from St. Louis, Mo., to Seneca, 326 miles;
branches—Granby branch, 2 miles; Oronogo, Mo., to Galena, 18 miles ■
Girard to Joplin, Kan., 38 miles; Carbon Branch. 3 miles; Pierce City
t o Halstead, Kan., 242 m.; Monett, Mo., to Paris, Tex., 301 m.; Springfl’d
to Chadwick, Mo., 35 m.; Springfield to Bolivar. Mo., 39 m.; CubaJunct’n
to Salem and branches, 54 m.; total owned, 929 miles; leased, Beau
mont to Bluff City, Kan., 105 miles; total, 1,204 miles; the tracks of
the Atchison Topeka & Santa Fe aré used from Wichita to Halstead, Kan
sas, 25 miles. This company also operates the finished portion of the
Atlantic & Pacific road. Central Division, from Seneca. Mo., to Sapulpa,
in the Indian Territory, 112 miles; total operated, 1,316 miles.
Í
S
Org an ization , &c.—This company was organized Sept. 20, 1876, as
successor to the Atlantic & Pacific in Mo. The latter embraced the South
Pacific RR. (originally the Southwest Branch of the Pacific RR. of Mo
chartered Dec. 25,1852), which was consolidated with the Atlantic <&
Pacific road Oct. 25, 1870. The Atlantic & Pacific road and lands were
sold, in foreclosure Sept. 8, 1876, and tlie St. Louis & San Francisco
became possessor of the property.
This company is jointly interested in the Atlantic & Pacific RR. with
the Atch. Top. & Santa Fe, and guarantees one-half the 1st mortgage
bonds severally, not jointly.
In January, 1886, leased for 99 years the Kansas City & Southwest
ern RR., from Beaumont. Butler County, Kansas, to Cale, in Cowley
County, 62 miles, at a rental guaranteed to pay the interest on the 1st
mortgage bonds. The bon Is «re redeemable on notice at 110. The stock
of the St. L. K. &S. W. (Ark. City to Caldwell, Kan., 47 m.) is owned and
the bonds guaranteed.
In 1886 the St. Louis Salem & Arkansas road, 55 miles, was acquired
and its bonds guaranteed.
Stocks and B onds .—The first preferred stock has prior right to 7 per
oent (non-cumulative); then prer. entitled to 7 per cent; then common
entitled to 7 ; then all classes share in any surplus.
The terms of
the preference of the first preferred stock are stated in the certificates
as follow s: “ This stock is entitled to a dividend of 7 per cent per
annum derived by the company from net revenues from all sources
each current year (remaining after the payment of interest upon all
liabilities) * * * and by resolution of the company has priority of lien
on net revenues for such dividend over any mortgage bond that may be
issued by the company subsequent to the creation of this stock.”
“ Net Revenue” in this clause is defined by the company as meaning net
revenue remaining after tlie payment of interest on a«, liabilities.
Dividends have been paid on first preferred stock in 1881 and since
at 7 per cent per annum.
The range or the stocks yearly since 1877 has been: First preferred in
1878 (4 months), 5 *2 ® !!% ; in 1879, 9%®781a ; in 1880. 60® 100; in
1881, 90®1151a; in 1882, 79%®1061a ; in 1883, 87® 100*8; in 1884,
70®96*a; in 1885, 79®99*s; in 1886,97®118*2; in 1837 to Sept. 16, in
clusive, 111® 120.
Preferred stock in. 1878, l 1a®514; in 1879, 4*8'®60*2; in 1880. 33®
65; in 1881, 55®81J4; in 1882, 43®66*fl; in 1883, 40®59*a; in 188424V S 50; in 1885, 30®4978; in 1886, 37*2®723s; in 1887 to Sept 16,
inclusive, 61 *2® 84*2.
Common in 1878 (3 months), 1 *a® 4*8; in 1879, 3*«®53; in 1880, 25*4
® 48; in 1881, 39®55; in 1882, 31®467s; in 1883. 20*2®3614; in 1884,
l l h j a ^ i s : in 1885,171a®241a; in 1886,17®36%; in 1837 to Sept. 16r
inclusive, 30044% .
The trust bonds of 1880 are secured by deposit of 7 per cent
mortgage bonds of the auxiliary roads constructed. The general
mortgage of 1881 (supplemented by that of June, 1882) for $30,000,000
is made to the U. S. Trust Co. as trustee, and $17,261,000 reserved
to take up all prior debt. This general mortgage is a first lien on new
road, besides covering the mileage on which are the prior liens, and
$5,000,000 of 5 per cents issued under this mortgage in 1886 were for
the construction of 185 miles road, including the line from Fort Smith,
Ark., to Texas.
The St. L. Kan & So, Western bonds are issued at $15.000 per mile, and
are redeemable at 110 on any interest day, at four weeks’ notice.
The Fort Smith & Van Buren Bridge bonds are guaranteed by the St.
L. & S. F. Co., and have a sinking fund of 5 per cent yearly after 1889
to purchase the bonds at 105; they are redeemable also at 110 at co.’s
option. The land department assets were estimated Dec. 31, 1886, at
$771,531, including 138,756 acres of land valued at $356,604, 1,263
town lots valued at $35,890, $256,447 in land contracts and $120,.
591 cash.
*
Operations , F inances , &c .—The St. Louis & San Francisco has been
one of the successful reorganized railroads of the Southwest, and has
made good progress in traffic and income, without very heavily increas
ing its annual interest charges.
The annual report for 1886 was in V. 44, p. 619, 622.
INCOME ACCOUNT.
1884.
$
4,643,596
2,508,218
14,83tt
1885.
$
4,383,403
2,433,662
19,782
1886.
$
4,874,628
2,652,332
159,619
2,097,813
2,523,054
2,453,144
2,811,951
1,343,436
315,000
7
11,004
1,826,203
315,000
7
242
1,751,215
315,000
7
4,732
1,950,323
315,009
7
5,974
Receipts Gross earnings........
Net earnings........ .
Other receipts........
1883.
$
3,896,565
2,073,437
24,376
Total net income
nisb or semen ts—
Tnt.. sink. fd. &ients
Divs. on Is rpf stock.
Rate of dividends..
Miscellaneous........
Total disbursem’ ts 1,669,440
2,141,445
2,070,947
2,271,297
428,373
Balance, surplus...
361,609
540,654
382,497
—(V. 43 p. 24, 571, 579. 608; V. 44, p. 204, 435,459, 466 551, 604,.
6 1 9 , 6 2 2 , 654; V. 45 , p. 54.)
St. L o u t s S o u t h e r n .—Owns road from Pinckney ville, 111., to Carbondale, 111., 33 miles, and leases Carbondale & Shawneetewn road to
Marion, 17 *a miles; total operated, 50*2 miles. This comp m y was
organized Aug. 3,1886, as successor to several others foreclosed. On
ARD LORDS.
RAILROAD STOCKS
September, 1887.
100
INVESTORS’
SUPPLEMENT.
[Vol, XLV.
Subscribers w ill co n fe r a great fa v o r b y g iv in g Im m edia te n o tic e o f a n y e rro r d iscov ered in th ese T ables.
Bonds—Print iINTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date Size, or
Amount Rate per
Par
of
When
Stocks—Last
Where
Payable,
and
by
of
T or explanation of column headings, &c., see notes
Outstanding
Cent. Payable
Whom.
Dividend.
Road. Bonds Value.
on first page of tables.
St. Louis A San Francisco—(Concluded)
St. Louis Salem & Arkansas—1st mort., guar.......
33
St. Louis Southern^-1st mortg., gold.........................
33
2d mortg. income, non-cumulative..........................
St. Louis vandalia A Terre Haute—1st M. s. f. guar. 158
158
2d mort., sink, fund ($1,600,000 guar.)................
St. Paul A Duluth—Preferred 7 p. c. stock & scrip. 225
Common stock........................................................... 225
169
1st mort. bonds, coup, or reg...................................
21
Taylor’s Falls & Lake Sup.. 1st mort., cp.,guar—
25
Duluth Short Line, 1st mort., coup., gu ar.............
St. Paul M inneapolis A Manitoba—Stock.................. 1,890
76
2d M., and 1st on road from St. Paul to Watab —
1st mort. land grant sinking fund, gold................ 656
656
2d mort., gold........ ....................................................
Dak. Ext., 1st mort., gold ($12,000 per mile)........ 473
Consoi mort.,gold ($13,344,000 are 6s), cp. or reg. 2,082
1st mort., gold, Montana Dlv., coup, or reg............ 280
Minneap. Un. RB.. 1st M., gold,guar.($3,000,000j
St. Paul A No.Pac.—Stock ($10,000,00: »authorized) 152
Gen. M., gold, Id. gr., coup, or reg. ($10,000,000) 152
60 ba
Western RK., Minn., 1st mortgage, R R ................
San Antonio A Aransas Pass—1st mort., gold........ 150
1st mort., gold ($12,000 per mile), ieieem at 110 134
Sandusky Mansfield A Newark—Re-organized stock 116
116
1st mortgage, new................................................
30
Savannah Dublin A Western —1st m , $15,000 p. m.
Savannah Florida A West. -A t. & G. consol, m ort.. 286
58
South Georgia & Florida, 1st and 2d mortgages...
525
Sav. Fla. & W., 1st m ortgage..................................
60
Savannah Griffin A N.Ala.—1st mortgage................
14
Schenectady A Dudnesburg—1st M., guar. D. & H ..
19
Schuylkill valley—Stock..................................... ........
1887
1886
18*6
1867
1868
$ ....
1,000
1,000
1,000
1,000
....
1,000
1881
1,000
1884
1,000
1886
100
- ...
1,000
1862
1879 100 &c.
1,000
1879
1,000
1880
1,000
1883
1887 l.OOO&c
1,000
1882
100
1,000
1883
1,000
1877
1,000
1885
1,000
1886
50
1,000
1869
1886
1867 500 &o.
1,000
1869
1,000
1884
1,000
1871
1874 100&C.
50
__
$810,000
5
550,000
4 g
525,000
5
1,899,000
7
2,600,000
7
5,376,970
3ifl
6,000,000 3 & 15 st
1,000,000
5
210,000
6
500,000
5
20,000,000
1*3
366,000
7
4,991,000
7 g.
8,000,000
6 g.
5,376,000
6 g.
21,444,000 4*3 & 6 g.
7,000,000
4 g.
2,150,000
6 g5,000,000
Us
6,000,000
6 g438,000
7
1,750,000
6 g1,608,000
6 g1,068,832
3
2,300.000
7
450,000
6
1,730,500
7
664,000
7
2,188,000
6
500.000
7
500,000
6
576,050
21«
J.
M.
M.
J.
M.
J.
& J.
& S.
& S.
& J.
& N.
& J.
N.Y. St. L. A. & T. H. Co.
do
do
N. Y., Central Trust Co.
N. Ÿ., Third Nat. Bk.
N. Y., Fourth Nat. Bk.
do
do
F. & A. N.Y., Central Trust Co.
do
do
J. & J.
M. & S.
do
do
N.Y., 40 Wall St.
Q.—F.
do
do
J. & J.
J. & J. New York and London.
A. & O.
do
do
M. & N.
N. Y., 40 Wall St.
J. & J.
do
do
J. & D.
do
do
do
do
J. & J.
Q .-J . N.Y., Winslow, L. & Co.
F. & A.
do
do
M. & N.
do
do
J. & J. N.Y. ,8. M. Swen8on&Son
J. & J.
do
Moss N. Bk.,Sand’ky,0.
J. & J. N. Y.. Union Trust Go.
J. & J.
Philadelphia, Pa.
J. & J. N.Y.,H.B.Plant,&Savan
M. & N.
do
do
A. & O.
do
do
J. & J. Savannah, Cent. RR.Bk
M. & S. Del. & Hud. Canal Co.
J. & J. Philadelphia, Office.
Jan. 1, 1937
Sept 1. 1931
Sept. 1,1931
Jan. 1, 1897
May 1, 1898
July 5. 1887
July 5, 1887
Aug. 1, 1931
Jan. 1, 1894
Sept. 1,1916
Aug. 1, 1887
July, 1892
1909
Oct. 1, 1909
Nov. 1, 1910
July l, 1933
June 1, 1937
July 1, 1922
April, 1887
Feb. 1, 1923
May 1, 1907
Jan. 1, 1916
July 1, 1926
Feb. 1, 1886
Jan., 1909
Jan. 1,1916
July, 1897
May 1, 1899
April 1, 1934
July 1. 1891
Sept. 1, 1924
July 13. 1887
Dec. 1,1886, made a lease for 980 years to the St. Louis Alt. & T. H., at I The fiscal year ends June 30. For 1886-87 earnings w ere:
INCOME ACCOUNT.
a rental of 30 per cent gross earnings, and a guarantee of interest on 1
-----------1883-84.
1884-85. 1885-86.
1886-87*
1st mortgage bonds.
$
St. L o u is V a n d a lia AC T erre H a u te .—Owns from East St.
Louis to Indiana State line, 158 miles. Road opened July 1, 1870. Gross earnings.................. 8,256,868 7,776,164 7,321,736 8,028,448
I t is leased to the Terre Haute & Indianapolis Railroad at a rental Net earnings...............
4,327,478 4,266,237 3,483,084 3,713,553
of 30 per cent of gross earnings. In July. 1887, suit was brought by Revenue from Land Dep’t
418,270
131,292
350,114
415,782
Penn. RR., owner of a majority of the stock, to annul the lease. For Other receipts.....................
214,434
66,284
171.116
514.447
the year ending October 31, 1886, rental was $44 3,499, and charges were
4,960,182
4,463,813
4,004,314
4,643.782
Total
incom
e...............
$370,691, leaving a surplus of $72,808. In operating this road the loss
Disbursements—
$
to lessee has been in 1882-83, $115,399; m 1883-84, $71,549; in
on debt................. 1,949,690 1,980.200 1,999,820 2,170,409
18845 profit $39,169; in 1885-6 profit $23,687. The annual report Interest
for
1,600,000
1,300,000
14200,000
Dividends..........................
1
,
200,000
1885- 86 was published in the Ch ronicle , V. 44, p. 148. The first mort,
6
8
6ia
6
and $1,000,000 of second mort, bonds are guar, by the lessees and also Rate of dividend...............
131,292 350,114
415,782
418,270
b y thé Pittsb. Cin. & St. L. RR. The stock is $2,379,358 common and Sinking fund (land sales).
*600,000
381,545
$1,544,700 pref. The prêt, was issued for income bonds ($1,000,000) Miscellaneous.....................
and for deficiencies made up by the lessees. In 1884-85 gross earnings
Total disbursements.. 4,349,505 3,411,492 3,549,934 3,746,723
257,591
610,677 1,052,321 454,380
were $1,372,648 ; net, $450,963. In 1885-6, gross, $1,478,330 ; net, Balance, surplus...............
* Fund for renewals, &c.
$467,186. Thos. D Messier, Pres., Pittsburg, Pa. (Y. 44, p. 9 1 ,1 4 8 ,
- (V. 44, p. 402, 681; V. 45, p. 55, 240, 257, 342.)
714 ;V. 45.p . 45. 85s 113.)
St. P a u l & D u lu th ,—Line of R oad .—St Paul, Minn., to Duluth,
St. P a u l Ac N orth ern P a c ific .—Line of road Brainerd to Minne apMinn., 155 miles; branch to Knife Falls, 6 miles; leased: Stillwater & olis, 139 miles, and branches to St. Paul, 10 miles; total, 149 miles.
St. Paul RR., 13 miles ; Minneapolis & Duluth RR., 13 miles ; Taylor’s This company was incorporated in 1874 as the Western RB. Co.
Falls & Lake Superior, 21 miles ; Grantsburg Branch, 17 miles ; total, of Minnesota; from Sauk Rapids to Minneapolis was completed J u ly
225 miles. Between Northern Pacific Junction and Duluth, 24 miles, 1, 1884, ana from Minneapolis to St. Paul, February 1, 1886 The
the road is owned jointly with the Northern Pacific.
terminal improvements at Minneapolis are on 20 acres in the business
The Duluth Short lin e road from Thomson to Duluth, 25 miles, is centre of the city, and for similar purposes in and about Minneapolis and
leased to the St. Paul & Duluth, and the bonds of $500,000 guaranteed. St. Paul, a total of 400 acres is owned. The land grant of the company
This was the Lake Superior & Mississippi RR., opened August 1, is located along the line of the road between Brainerd and Sauk Rapids,
1870, and leased to the Northern Pacific. Default was made Jan. 1,1875, and about 210,000 acres remain unsold. The land proceeds are first
and road sold in foreclosure May 1,1877, and this company organized applicable to redemption of West. Minn, bonds, and then to the redemp
June 27. The preferred stock is received in payment for lands at par. tion of the Gen. Mort. bonds, if obtainable at 120. The road, with itsThree shares of common stock have one vote and each share of pre terminal property, is leased for 999 years to the Northern Pao. at a net
ferred has one vote. Preferred stock has a prior right to 7 per cent; rental equal to 40 p. c. of the gross receipts, but the bonds are guaran
then common to receive 6 per cent from net earnings.
teed principal and interest. The stock is placed in trust with Farmers’
Important propositions were voted on at annual meeting June 20. L. & T Co., the power to vote being held by Northern Pacific Company;
(See V. 44, p. 809.) A dividend of 3 per cent in cash and 15 per cent but “ beneficial certificates” entitling holders to dividends are issued.
in common siock was paid on common stock in July, 1887.
The general mortgage is for $10,000,000 (the total debf being limited
The company has a land grant, of which 1,151,495 acres remained un bv the lease to that amount), and is a first lien on the whole property,
sold Dec. 31,1586, and 69,680 acres of the Taylor’s Falls Branch. In excepting that it is second to the Western Minn, mortgage on 6 0 ^ miles
'86 land and stumpage sales amounted to $163,057, anddef’d payments and on part of the lands: the registered interest is payable quarterly—
(land accounts) Deo. 31, 1886, were $314,001. Gross earnings and February, May, Aug. and Nov.; only $6,000,000 have yet been issued,
net income on railroad only, after deducting all fixed charges, were as and a sufficient amount of the issue is reserved to retire the Western
below, but in 1886 $568,315 and in 18s5 $167,186 for ‘ •improve Minnesota bonds in above table. Since 1877 regular cash dividends
ments ” and “ bett erments” was charged in oper. expen ses, while in prior have been paid, averaging over 6 per cent per annum. (Y. 44, p. 22,90.)
years improve’ts had been charged to cost of road and equipment.”
San A n ton io Ac A ran sas P a ss.—Road extends from San Antonio
Gross earns. Netinc’me I
Gross earns. Netinc’me.
to Aransas Bay, Texas, 150 miles, and Gregory to Corpus Christ!, 13
1881
..... $732,630 $50,249 |1884............................... $1,317,314$398,091
no.;
1882
..... 1,109,840- 261,246 11885............................... 1,381,212328,610Kenedy to Cuero, 43 m .; San Antonio to Boerne, 32 m.—total
1 8 8 3 ............. 1,328.527
271,186 |1886............ 1,558,085 def. 14,529 completed, 238 miles. Extensions are in progress.
The mortgage first given above covers the 1 ^0 miles from San Antonio
A summary of the report for the year ending June 30,1887, was in Y. to Aransas Bay. The bo ads after that are issued at $12,< >00 per mile on
45, p. 341, showing total net receipts, including land sales, $975,359. new'road completed. The Farmers’ L. & Tr. Co., of N. Y., is tiustee of
—(Y. 44, p. 621, 682, 714, 717, 753, 809; V. 45, p. 85,143, 341.)
both mortgages. Abstract of 1st more, in V. 45, p. 372. Capital stock
St. P a u l M in n e a p o lis AC M a n ito b a —(See Map).—Owns from St. issued, $2,617,200. In the thirteen months to March 1, 1887, on an
Paul to Emerson, 392 miles ; Minneapolis to Gretna via Breckinridge, average of 78 miles, gross earnings were $205,183; net, $116,968; sur
413 m. ; Minneapolis to Hinokley via St. Cloud, 132 m. ; St. Cioud to plus over interest, $60.831. U. Lott, Pres’ t and Gen’l Manager. (V. 44,
Willmar, 5s m.; Elk River to Milaca, 32 m.; Devil’s Lake to Minot, p. 495, 751. 809: V. 45. n. 372.)
117 m.; Cando Branch, 16 m.; Bolleneau Branch, 38 m.; Sauk Centre
San dusky M an sfield Ac N e w a rk . —Owns from Sandusky, O., to
to Eagle Bend, 36 miles; Fergus Falls to Pelican Rapids, 23 miles; Newark, O., 116 miles. A consolidation of several roads in 1856.
Crooketon to Devil’s Lake, 114 miles ; Shirley to St. Hilaire, 21 miles ; Leased Feb. 13,1869, to Central Ohio Railroad, guaranteed by Baltimore
Wayzata to Spring Park, 6 miles; Morris to Brown’s Valley, 47 miles; & Ohio, and new lease made February 23,1880, extending to December
Breckenridtre to Park River, 168 miles ; Everest to Portland, 47 miles; 1,1926, with option to the Balt. & Ohio Company to renew for terms
Ripon to Hope, 30 miles ; Moorhead to Halstad, 34 miles ; total oper of 20 years each. Rental was $194,350 yearly till 1884; $199,350
ated, 1,890 miles.
in 1884 and 1885; now $201,850 annually. It is operated as Lake
This company was organized May 23, 1879, under the oharter Erie division of the Baltimore & Ohio system. In 1885 86, gross
o f the St. Paul & Pacific Railroad, and embraced the St. Paul & Pacific $1,013,014; net. $30 ',711; in 1884-85, gross, $817,785; net, $119,919.
Railroad, the First Division of the St. Paul & Pacific Railroad, the Red
Savannah D u b lin Ac W e ste rn .—Road in progress from Savan
River Valley Railroad, and the Red River & Manitoba Railroad. The
company had a land grant of 3,848,000 acres. The proceeds of land nah to Americus, Ga., and branch to Macon. 253 miles. Stock, $-’ ,000,sales are reserved by the first mortgage trustees as a sinking fund for 000, $ Lo,000 per mile. A. B. Linderman, Philadelphia, President.
__________
. ___ * S avan n ah F lo r id a Ac W e s te r n .—Owns from Savannah, Ua., to
the redemption of the bonds at or under 105 and interest,
andMbonds
are called In yearly so far as the funds are in hand. The second mort- Chattahoochee, Fla., 258 miles; branches—Bainbridge Junction to Bainage bonds do not cover the land. The land sales for year ending June bridge, 9 miles; extension to Savannah wharves, 1-70 miles; Junction
0, 1886, were 68,560 acres, for $1163,467. The net amount due on land Branch, 4 miles; Dupont to Gainesville, 118 miles; Thomasville to
contracts June 30,1886, was $ 5 il,t 2 1 ; lands unsold, 2,289,420 acres. Albany, 58 miles; Waycross to Jacksonville, 75 miles; Fort White,
The Dakota Extension bonds are issued at $12,000 per mile. The Fla., to Lake City, F la, 20 miles; total, 545 miles. This was a
authorized amount of consolidated mortgage bonds is $50,000,000, of consolidation in 1865 of the Savannah Albany & Gulf Railwhich $19,426,000 were reserved to pay prior liens, and the balance road and the Atlantic & Gulf under the latter name. The Atlanmay be issued for new road at $15,000 per mile single track or $27,000 tic & Gulf road was sold in foreclosure of the second mortgage
per mile double track. The Minneapolis Union RR. is a short linethrough on November 4, 1879, subject to the consolidated mortgage and
Minneapolis for passenger service including stations and bridge over other prior liens amounting to about $2,465,000. The present comthe Miss River, and its stock of $1.000,000 is held in trust and is covered pany has a capital stock of $5,340,300, which is held in very few
b y the lien of the St. P. M. & M. consol, mortgage. The above issue of hands and dividends are paid as earned; in March, 1886, 3 per cent
$7,000,< 00 fifty-year 4 percent bonds were issued for the extension paid; in March, 1887, 2 percent. The earnings in 1885 were $2,4 61,613
from Dakota to threat Falls, Montana, about 450 milps, and an addi- gross and $468,799 net; fixed charges, $300,279; surplus, $164,356.
tional amount for further extensions at rate of $¿5,000 a mile for ¡In 1886 gross earnings, $2,557,817; net, $434,741; surplus over intermain track and $15,000 for second track. The bonds are lim ited to est, etc., $96,489. H. B. Plant, Pres., New York. (V. 43, p, 635; V. 44,
$25,000 per mile on road and e q u ip m e n t , and the mortgage is for an
authorized amount of $25,090,000 to provide for future extensions and ** S a v a n n a h G r iffin Ac N o r t h A la b a m a .- Owns from Griffin,
branches. (See abstract of mortgage in V. 45, p. 342.) An article on Ga., to Carrollton, Ga., 60 miles. Operated in connection with Central
Railroad of Georgia. Capital stock, $1,011,245. In 1885-86 gross earnthe report of 1886-87 was in V. 45, p. 257.
f
September, 1887.]
RAILROAD STOCKS AND BONDS
101
102
INVESTOKS’
SUPPLEMENT.
[V ol . XLV.
S u b scrib ers w i l l c o n fe r a g rea t fa v o r b y g iv in g im m e d ia te n o tic e o f a n y e r ro r d is co v e r e d in th ese T a b le s .
Bonds—Prino 1INTEREST OR DIVIDENDS.
DESCRIPTION.
pa!,When Due.
Miles Date Size, or
Amount Rate per
Par
Where
Payable,
and
by
Stocks—Last
of
When
For explanation of column headings, Ac., see notes of
Outstanding
Whom.
Dividend.
Road. Bonds Value.
Cent. Payable
on first page of tables.
Scioto Valley—1st mort. (s. fund $13,000 per year).
2d mortgage (sinking fund, $5,000 per year).......
Consol, mortgage.......................................................
98
98
124
Seaboard dc Roanoke—Stock ($244,800 is pref.).......
80
Seattle Lake S. <£East.—1st M., g., $25,000 per m ..
Shamoki . Sunbury <t Lewisburg—1st mort., coup.
2d mortgage................................................................
Shamokin Valley <6 PottsviUe—Stock.........................
1st mortgage, gold, on road and lands..................
Shenandoah'Valiey—1st m (Hag. to Waynesbo.)___
Sheffield <&Birmingham—1st M., g. ($15,000 p. m.)
2d mort. ($. 0,000 per mile).....................................
General mort., gold....................................................
3d mortgage income bonds, registered, non-cum..
Car trusv certificates..................................................
Shenango dt Alleghany—1st mortgage.......................
West Pennsylvania A Shenango, 1st mortgage...
Shore Line (C onn.) -S tock..........................................
1st mortgage..............................................................
Shreveport & Houston—1st, g.. guar, by H. E. & W. T.
Silver Springs Ocala <£ Oulf—ls i M, g,($ 13,000 p.m.)
40
31
1st mortgage, sterling loan.....................................
1st consol, mortgage (for $5,000,000)....................
2d consol, mortgage..................................................
Income mortgage bonds (not cumulative). . . . ___
So. dt No. Alabamctr—1st M., endorsed by Alabama.
Sterling mort., s. fund, guar, by L. A N ...............
2d mortgage bonds (owned by L. A N.)..................
29
28
144
90
90
254
254
57
50
50
40
25
247
247
247
247
247
132
181
183
183
1876 $500&c. $1,294,000
1,000
283,000
1879
1,000
553,000
1880
82,000
100
1,302,800
500,000
1886
1,000
1,000,0 0
1886
1,000
1,000,000
1882
1,000
500,000
1884
50
869,450
2,000,000
1871 500 &c.
1,000
2,270,000
1880
1,000
1,350,000
1886
t?>
1,000
1886
1,000
3,994,000
1881
1,000
1,590,000
1883
620,109
1,200,000
1869 500 Ac.
1,000
400,000
1882
100
1,000,000
200,000
1880 lOOOAc.
1,000
400,000
1881
1885
(?)
ioo
450,000
1871
100
4,204,160
149,036
1868 Various
1,000
4,717,000
1881
1,000
1,130,000
1881
1,000
2,538,000
1881
1,000
1,572,000
1885
1,000
391,000
1870
£200
4.620,110
1873
1,000
2,000,000
1880
ngs $62,518; deficit, $8,083. Tn 1884-5, gross, $58,841; net, $6,244.
—(Y. 45, p. 54.)
S ch en ecta d y Sc D u a n esb u rg . —From Quaker Street Juncticn,
K. Y., to Schenectady, N. Y., 14 miles. Formerly Schenectady & Sus
quehanna Railroad, and was foreclosed in 1873; reorganized and leased
tn perpetuity to the Delaware & Hudson Canal Company. Lease rental,
$30.000 per year, paying 6 per cent on bonds. Stock, $100,500.
S c h u y lk ill V a lley .—Owns from Palo Alto to Reevesdale, P a ,
11 miles; branches, 8; total, 19 miles. Leased to Phila. & Reading RR.
from Sept. 1, 1861, at 5 per cent on stock. Has no bonded debt.
S c io to V a lley . —Owns from Columbus, O., to Petersburg, O., 131
miles. In 1886 gross earnings were $6s3,234; deficit under oper
ating expenses, $9,321. In 1885,gross earnings were $546,-86:
net, $91,441; rents, taxes paid, Ac., $31,998; applicable to interest,
$54,942. Stock is $2,093,350. Couponsof Istm . due July 1,’84, andJan.
1 /8 5, were bought by Lloyd, McKean & Co. A plan of funding interest
a n d placing all mortgage bondholders and holders of floating debt on
•about the same footing was brought forward in the interest of Mr. C. P.
Huntington, who had a large judgment against the company, but was
resisted by the 1st mortgage bondholders, who organized a committee
"to buy the road od foreclosure. J. L. Robertson, Chairman, 7 Nassau St.
Receiver (Jas. Robinson) was appointed in June, 1885, on a judgment
Uf C. P. Huntington for $639,305. Frank H. Davis, Pres., New York.
S ea boa rd Sc R o a n o k e .—Owns from Portsmouth, Va., to Weldon,
N. C.. 80 miles. Of the stock, $1,058,700 is common, $200,000 is 1st 7
per cent guar., and $44,200 is 2d guar. Net earnings 1885-86, $188,375;
1886-87, $273,550; surplus over dividends and interest, $101,653.
J. M. Robinson, Pres., Balt., Md.
Seattle L a k e Sh ore Sc E a stern .—New road in progress from
Beattie on Puget Sound to Walla Walla, 244 miles, of which 43 miles,
Seattle to Squak, is completed. Bonds are coup, or reg. Y. 43. p. 184,191.
S h a m o k in Sun bu ry Sc L e w is b u rg .—Line from Shamokln to
West Milton. Pa., with iron bridge over Susquehanna River at Sunbury,
3 1 m iles; Felton to Boulder Creek, Col., 7m. The road was built by
Philadelphia A Reading, and opened in 1883 for its coal traffic north
w ard. Stock. $1,000,000
S h a m o k ln V a lley Sc P ottsvlM e.—Line of road, Sunbury, Pa., to
Mt. Carmel, Pa., 27 miles; branch to Lancaster Colliery, 2 miles total 29
miles. The road was leased Februaiy 27,1863, to the Northern Central
Railway Company, with a guarantee of interest on the bonds and 6 per
•cent per annum on the stock. Gross earnings for 1885, $422,227; net,
$63,318. Gross earnings for 1886, $381,612; net, $216,984. Geo.
B. Roberts, President, Phila.
Sheffield Sc B ir m in g h a m C oa l, I r o n Sc R a ilr o a d Co . — (S ee
Map.) Road about completed between Sheffield and Birmingham, Ala
bama, AO miles. In Sept., 1887, Sheffield & Birmingham Railroad was
•consolidated with the Alabama A Tennessee Coal & iron Co. The
new company o vns the railroad, 70,000 acres of coal and iron lands in
Alabama and 60 acres of land in Sheffield. Five blast furnaces are in
course of construction, having a capacity of 140 tons daily. New York
office, 10 Wall Street,
S h e n a n d o a h V a lle y . —From Hagerstown, Md., to Waynesboro and
thence to a connection with the Norfolk & Western road at Roanoke.
■238 miles and branches 17 miles. A close contract for working and an
exchange of stock for N orfolk* Western stock, also a contract with Penn.
RR. for exchange of business was made in 1883. In June, 1887, the
plan of reorganization proposed was in V. 44, p. 782, by which the differ
ences between bondholders were settled, and the road will be leased to
the Norfolk A Western. The stock is $3,696,200, of which $3,057,100
Is held by the Norfolk A Western RR. Co.
In March, 1885, Sydney F. Tyler was appointed receiver, and the
April, 1885, Interest was defaulted.
From Jan. 1 to July 31 in 1887 (7 mos.), gross earnings were $467,213, against $367,743 in 1886; net, $65,589 in 1887, against $30,112
in 1886.
In 1886 gross earnings were $740,655; net, $79,276. (V. 44, p. 23,
150, 309, 495, 497, 6 8 0 , 782; V. 45, p. 143.)
S h en a n g o Sc A lle g h a n y .—Owns from Greenville, to Hilliard. Pa.,
47 miles; branches, 10 miles; total operated, 57 miles. Leases the West
Pennsylvania & Shenango connecting road, extending from this line to
Butler, 24 miles, under construction in 1883. The company made
default in 1879, but the October coupons were paid Feb. 21,1880. Road
went into hands of receiver, and foreclosure begun in June, 1885, and
road sold April 19, lo87. Stock, $200,000. Gross earnings in 1885,
$147,053; net, $48.858- Gross 1886, $150.072; net, $43,596. Thos.
P. Fowler, receiver, N. Y. City. (V. 44, p. 150, 527.)
S h ore L in e (C o n n .) —Line of road, New Haven, Conn., to New
•London, Conn., 50 miles. Leased to New York A New Haven RR. Co. in
perpetuity Nov. 1,1870, at $100,000 net per annum. Chartered as New
•Haven A New London RR.; sold in foreclosure and reorganized under
¡present title June 29,1864. Dividends 3*2 in Jan. and 4 in July. Opera
tions and earnings are included in the reports of the lessee.
S h rev ep ort Sc H o u s to n . —From Shreveport, La., to Logansport,
La., 40 miles; connects with Houston East. A W. Texas road, forming
with that a narrow gauge line of 230 miles from Shreveport toHousten. E. L. Bremond, President.
S ilv er Sprin gs O cala Sc G u lf.—This road is in progress from Sil
v er Springe, Fla., to Point Pineilos on Tampa Bay, about 150 miles.
7
7
7
7
5
5
6
5
6
3
7
7
6
6
6
6
g.
g.
g.
g.
g.
g.
7
6
4
4 1«
6 g.
6 g7 g.
5
5 g6
6
6
6
8 g.
6 g.
6
J. A J.
A. A O.
J. A J.
M. A N.
M. A N.
J. A J.
F. A A,
M. A N.
F. A A.
F. A A.
J. A J.
J. A J.
J. A J.
J. A J.
A. A O.
Feb. 1
A.
J.
J.
M.
J.
J.
J.
A I*.
J.
A J.
A S.
A J.
J.
A J.
J. A J.
A. A O.
J. A J.
Yearly.
J. A J.
J. A J.
M. A N.
A. A O.
July,’84,AJan.’85,cs.b’t
Last paid April, 1884.
Last paid July, 1884.
N. Y., Winslow, L. A Co.
Balt.,Farm. A Plant. Bk.
New York.
N. Y. Agency, 23 Broad.
Phila., Phil. A Read.RR.
do
do
Philadelphia,Treasurer.
do
do
Last paid Jan., 1885.
N. Y. Office, 10 Wall.
do
do
Last paid Oct., 1884.
None paid.
None paid,
N. Y., N.Bk. of Com’rce.
Phila., Fid. Ins.A Tr.Co.
N. H., Nat. N. H. Bank.
do
do
New York.
N. Y., Agency.
Jan. 1, 1896
April 1, 1894
July 1. 1910
May 15,1887
1926
Aug. 1, 1931
May 1, 1912
Feb. 1, 1924
Aug. 2, 1887
July, 1901
Jan. 1, 1903
J a n .1,1926
Jan. 1, 1920
April 1, 1921
Jan. 1, 1923
1889 A 1907
July 1, 1912
July 8, 1887
March, 1910
July 1, 1914
July 1, 1915
July, 1891
Feb. 1, 1883
London.
1887 to 1888
N. Y., 68 William street. Oct. 1, 1920
do
Jan. 1, 1931
do
Jan. 1. 1931
• Jan. 1, 1915
N. Y., 50 Exchange PI. Jan. 1, 1890
London, Baring Bros. May 1, 1903
N. Y., 50 Exchange PI.
1910
Capital stock, $1,500,000. There is a land grant of 4,000 acres per mile
which the mortgage also covers. The proceeds of land sales go to retire
the bonus at 110 and accrued interest. Thos. C. Hoge, President, 56
Wall St.
Som erset. —Oakland, Me., to Anson, Me., 25 miles. Capital stock
$379,050. In September, 1883, the bondholders took possession and
reorganized the company. Gross earnings in 1885-86, $35,354; net,
$9,700. Gross in 1884-85. $ 30,860; net, $5,864.
S ou th C a rolin a .—Owns from Charleston to Augusta, 8. C., 137 m.t
branches to Columbia, 68 m., and to Camden, 38 m.; extension. 4 miles
total mam line and branches, 247 m. Default was made and the road
sold in foreclosure July 28, ’ 81. and the company was reorganized.
There were on Dec. 31, 1886, $287,812 prior lien bonds, payable 1887
to 1892 in addition to ihose above.
The annual report for 1886 was in the C hronicle , V. 44, p. 807.
INCOME ACCOUNT.
1883.
Receipts—
jjj
Total gross earnings.. 1,326,969
446,765
Total net income........
1884.
$
1,233,292
388,604
1885.
$
1,151,840
358,427
1886.
$
1,120,060
159,858
Inxmes^on^debt........
449.894
382,722
374,524
386,437
2.472
252
8.020
813
Miscellaneous............
Total disbursem’ts..
452,366
382,974
382, o4±
387,250
Balance....................... def. 5,601 sur. 5,630 def. 24.117 def. 227,392
- (V . 44, p. 807.1
S o u th F l o r i d a . —Owns from Sanford to Tampa, Fla., 115 miles:
Bartow Branch, 17 miles; operates Sanford to Oviedo, 17 miles, and
Pemberton Ferry Branch, 43 miles; total, 192 miles. The road is
pait of the Savannah Florida & Western system.
S ou th P a c ific Coast (N a rr o w -g a u g e ). —Owns from Newark to
J unction (Felton), C a l, 45 m.; Campbell to New Almaden, Cal., 10 m.
leased—Alameda Point to Newark. 25 m.; Felton to Santa Cruz, 6m.;
Felton to B,wider Creek, Cal., 7 miles; other branches, 5 m.; total, 98
m. In March, 1887, it was reported that the road was sold to the
South. Pac. interest. Gross earni igs 1886, $870,157; net, $303,284.
- ( V . 45, p. 113.)
S ou th P e n n s y lv a n ia .—The line was in progress between Harrisb.
& Pittsb., 225 miles, making a western extension of the Phila. & Read
ing system. In July, 1885. it was agreed that the Vanderbilt interest
should be transferred to the Pennsylvania Company, and that com
pany offered to give the South Pennsylvania subscribers $6,500,000
bonds of the Bedford A Bridgeport RR., guaranteed by the Penna.
Railroad Co., bearing 3 pec cent interest, in payment for the prop
erty. Other large parties joined with the Vanderbilt interest and the
negotiation was practically completed, when the Attorney-General of
Pennsylvania brought a suit to enjoin the transfer, and this suit in
Oct., 1886, was decided by the Supreme Court of Pennsylvania against
the transfer to Pennsylvania Compauy. Robt. H. Sayre, Pres. Office,
Harrisburg. (V. 44, p. 23; V. 45, p. 85,113, 143.)
S ou th ern C en tral (N. Y .) —Owns from North Fair Haven, N.Y.,
to Pennsylvania State Line, 114 miles. Leases the Ithaca Auburn &
Western, Freeville to Auburn, 38 miles; State Line to Sayre, 2 miles.
Total operated, 154 miles. The Lehigh Valley leased this road from Jan.
1, 1887, for 975 j ears, without any guaranty of interest, and it is
operated by the Pa. & N. Y. Canal Co. The consol. 5s are convertible
into stock at option of holders win n ten years, and $100,000 are held
in trust to retire $90,000 of 7 per cent prior bonds due m 1899. Six
coupons from Aug. 1, 1886, inclusive were funded into income bonds.
Capital stock paid in is $1,774,850. In 1885-86, gross earnings wera
$467,068; net, $51,452; in 1884-85, gross, $454,237 ; def., $37,048.—
(V. 44, p. 23.)
S ou th ern P a c ific C O M PAN Y ..—This corporation was organized
Aug. 14,1884, under the laws of the State of Kentucky. It holds most
of the stock of the Southern Pacific of California and the other railroads
connecting with it to New Orleans, and leases each of those roads; also
has a lease of the Central Pacific for 99 years. The last report had the
following statement of the total stock of each of the said companies
owned bv the Southern Pacific Co. Deo. 31, 1886, and the table also
shows the percentage of net profits of the whole system payable under
the lease to th6 several lessor companies.
Total stock P. c. o f
Name of corporation.
Stock owned.
o f company, profits.
So. Pac. RR. Co. of California......... $43,997,900
$44,039,100
261«
So. Pac. RR. Co. of Arizona . . . . . . . 19,995,000
19,995.000
12
6.888,800
4
So. Pac. RR. Co. of New Mexico ...
6,688,800
5.000.
000 221*
Mor. L. & Texas RR. & SS. Co. . . . .
4,062,700
Gal. Harris. & San An. Ry. C o ....... 26,278,400
27,085.100
10M
5,000,000
5.000.
000 71«
Texas & New Orleans Ry. Co.........
Louisiana Western RR. Co..............
3,360,000
3,360,000
31»
Mexican International RR. Co........
4,172,100
4,922,100
814,800
New York Texas & Mexican............
598,000
Total............................................. $114,152,000 $117,104,900
Galv. Har. & San Ant.,West. D, v., 6s.
1,116,000
$115,262,900
Total stock and bonds.
From Jan. 1 to July 31, in 1887 (7 mos.), gross earnings on the whole
system (4,982 miles) were $19,33a,992. against $17,475,563 in 1886
(4,717 miles); net, *7,386,993, against $7,396,201.
103 >
STOCKS AND BONDS.
RAILBDAD
S e p te m b e r , 1887.]
104
INTESTO RS’
SUPPLEME NT.
[Y o u
XLV.
S u bscribers w i l l co n fe r a great fa v or by g iv in g im m ed ia te n o tic e o f a n y e rro r d iscov ered in tb ese T ab les.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due
Amount
Par Outstanding
For explanation of column headings, &c., see notes
of
of
Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Dividend.
Whom.
So.A N o.A la.—( Cont’d) New bds.(for$10,000,000)
1887
South Pacific Coast—Stock..........................................
80
South Pennsylvania—Stock (for $20,000,000)..........
1st mortgage (for $20,000,000)...............................
Southern Cent. (N. Y.J.—Consol, mort. convertible . ÌÌ 4 1882
Southern Pacific COMPANY—Stock ($100,000,000) 4,964
South. Pae. o f Arizona—1st mort., gold,cp. or reg... 384 ’79-’80
South. Pac. (Cal.)—1st mort., void,land gr., cp. or reg. 1,022 ’ 75-’82
Monterey, 1st mortgage . . . ......................................
15 1880
Southern Pacific o f N. Mexico—Mort., coup, or reg.. 167 1881
Southwestern ( Ga.)—Stock, guarant’d 7 per annum 321
Southwest Pennsylvania—Stock.................................
44
....
1st mortgage..............................................................
. . . . 1877
Spuyten Duyvil A Port Morris—Stock.........................
....
6
Slate Line A Sullivan—1st M., oonv. (red’ble aft.’88)
24 1879
Staten Island—1st mortgage.......................................
13 1873
Staten Island Rapid Tran.—lstm ., $ or St, cp.orreg. All. 1883
2d mort. guar by B. <SsO. cp. or reg., gold..............
1886
Incomes, gold (non ca m .).........................................
1885
Sterling Mountain (N.Y.)—1st mort., income, guar.
7% 1881
Stockton A Copperopolis—1st mort.. (guar, by C. P.)
45 1875
Suburban Rapid Transit—Stock ($6,600,000)........
1st mortgage b on d s.......... .................................... .
Summit Branch (Pa.)—Stock....................................
20
1st mortgage bonds..................................................
20 1874
■Sunbury Hazleton A Wilkesbarre—1st m ortgage....
43 1878
2d mortgage............................................................ ..
43 1878
Sunbury A Lewistown—1st mortgage............. ........
43*2 1876
Suspension Bridge A Brie Junction—Stock.............
23
1st mortgage..............................................................
23 1870
’S yracuse Binghamton A N. Y.—Stock........................
81 1875
Consol, mortgage (guar. D. L. & W.)......................
81 1876
Syracuse Geneva A Corning—1st m ortgage.............
57 1875
2d mortgage............................................................... 1 . . . . 1879
$1,000
1,000
$2,971,000
1,000,000
(?)
(?)
3,299,200
200 &e.
100 88,560,130
1,000
10,000,000
500 &c. 34,178,000
1,000
250,000
1,000
4,180,000
100
5,049,300
819,200
1,000
962,000
989,000
10Ó. &c.
200,000
1,000
300,000
1,000
1,000,000
1,000
2,500,000
1,000
4.500,000
1,000
475,674
500 &0.
500,000
641,865
....
50
4,125,000
1,000
1,185,000
....
1,189,000
....
1,350,000
500
500.000
500.000
1,000,000
1,000
100
2,500,000
1.000
1,750,000
lOO&o.
897,000
1,000
600.000
5
5
M. «Ss N. N. Y., 50 Exchange pi.
F. & A.
(?)
Feb. I, 1922
6 g6 g.
5
6 g.
3*2
5
7
4
7
7
6 g.
5 g.
6 g7
5
?J. & J.
A. «Ss O.
A. & O.
J. & J.
J. & D.
M. «Ss S.
F. «Ss A.
J. «Ss J.
J. «Ss J.
A. «Ss 0.
A. & O.
J. «Ss J.
New York City.
N. Y., Mills Buiiding.
do
do
N. Y., Company’s Office
Savannah,CeniRR. Bk.
Phila. and Greensburg.
Philadelphia Office.
New York.
N Y., Union Trust Co.
N. Y „ S. I. Rap. T. Co.
N. Y., Lond. <Ss Glasgow.
New York.
do
Mar., 1909-10
1905-6 «Ss 1912
April 1,1900
Jan 1, 1911
June 7,1887
Sept., 1887
Feb., 1917
July, 1887
Jan. 1, 1899
April 1,1893
Jan. 1, 1913
Jan. 1, 1926
Jau. 1, 1946
July 7, 1895
January. 1905
3
7
5
6
7
7
7
2
7
7
5
F.
J.
M.
M
J.
Feb.
J. «Ss J. N. Y., Central Paciflo.
«Ss A. Phila., 233 So. 4th St.
«Ss J.
do
do
«Ss N. Philadelphia, Penn. RR.
«Ss N.
do
do
<& J. Phila., Guar. T. «Ss D. Co
J. «Ss J.
Q.—Mar
A. «Ss O.
M. & N.
M. «Ss 8.
Feb. 16,1879
Jan. 1, 1904
May 1, 1928
May 1, 1938
July 1, 1896
Yearly.
N. Y. Lake Erie & West. July 1, 1900
N.Y., D. L. «SsW. RR. Co. Sept. 1, 1887
do
do
Oct. 1. 1906
N.Y., Farmers’ L.«fe T.Co. Nov. 15,1905
Mar. 1, 1909
' The annual report for 1886 (V. 45, p. 210), showed the net earnings of 44 miles Opened April 1,1873, and leased to Pennsylvania Railroad,
the whole system (4,847 mi es and steamship lines) for the year to have which operates it at cost, paying net earnings as rental. In 1«85
been $13,283,227, plus rentals of $o60,L91, and interest, &c., received, gross earmnt 3 were $562,920 and net earnings, $249,438. In 1886
$465,301; total. $14,309,218; dividends and interest on bonds, $8,7.34,- gross, $756,139; net, $394,330.
'$10; rentals paid, $1,867,165; taxes, $888,623; interest on notes, <Ssc.,
S puyten D u y vel & P o r t M o rr is .—Road is 6 miles in length and
$330,191; betterments and additions, $560,856; sinking fund, $1,196,- connects the New York Central & Hudson with the New York & Harlem.
771; payable to C. P. HR., $1.324,99’-; miscellaneous, $27,941; total Leased to New York Central November 1,1871. Rental is 8 per oent on
-deduction ($14,951,355, less $822,759 due from lessor properties under capital stock of $989,000. Operations are included in lessee’s returns.
lease, $14,128,596; surplus, $180,622. (V.43,p. 103, 218, 335,460, 608,
State L in e & S u lliv a n .—Owns from Monroeton, Pa., to Berenice,
-636,746; V.44. p. 344, 435, 527,654, 782; V. 45, p. 113, 2 1 0 , 273. 369. Pa.,
25 miles. Originally organized as Sullivan •&Erie Coal & Railroad
S o u th e r n P a c ific o f A r iz o n a . —This is the connecting line of the Co., which
was sold in foreclosure Oct. 14, 1874, and a new company
South. Pacific of Cal., extending from Yuma to N. Mexico boundary, 384 formed Dec.
under the present name. Stock, $990,000 (par $50).
miles. The stock is $19,995,000. The bonds consist of Series A $6,060,- The mortgage2,1874,
5,000 acres coal lands. In May, 1884, this road was
OOO, due 1909, and Series B, $4,000,000, due 1910. Operated under lease leased to the covers
Penn.
<
Ss N. Y. Canal & RR. Co. for fifty years, at $36,000
■to Southern Pacific Co., the lessee paying all charges and also 12 per cent per annum for three years
and $40,000 afterwards.
o f the net profits (if any) of the whole Southern Pacific system.
Staten Is la n d .—Local road on Staten Island, Clifton to TottenFrom January 1 to June 30 iu 1887 (6 months),gross earnings were
ville,
13
miles.
Road
is
operated in connection with Staten Island
$835,701, against $779,937 in 1886; net. $365.510, against $371,491.
In 1885 the gross earnings were $1,564,702, and surplus over all Ferry Company. Capital stock, $210,000, par $15 per share. Leased
oharges $148,029. In 1886 gross earnings were $1,525,221; net, $647,- to Staten Island Rapid Transit Co. for 99 years from July 31, 1884, at
$80,600 per annum. Dividends in 1885-86, 26’ 66 per oent.
592. (V. 44, p. 370.)
Staten Is la n d R a p id T r a n sit R R .—This Co. was incorporated
S ou th ern P a c ific ( o f C a lifo rn ia ). (See Map.)—L ine of R o ad .—
The road in California is in two divisions—the North. Div. from San Fran, ander tne general law of New York State. The line of road is around
•to Tres Pinos, 100*2 miles; Carnadero June, to San Miguel Junction, 125 the Staten Island shore, east and north sides, from Vanderbilt Landing
miles; and leased line, Castroville June, to Monterey, 15 miles; Santa (junction with theS. I. Railway) to a point opposite Elizabethport, N.
•Cruz RR., 26 m.; total in North. Div., 267 m iles;—the South. Div., Huron J. It has a 99 years’ lease of the S. I. Railway and controls the Ferries
via Goshen to Colorado Riv., 529 miles; Los Angeles via Wilmington to to N. Y. City. In November, 1885, the agreement with Balt. & Ohio
San Pedro, 27 miles; total South. Div., 553 miles; total South. Pacific in was reported for making the terminals of that RR. Co. at New Brighton
Cal., 816 miles. At Goshen the Southern Div. meets the San Joaquin by means of a bridge over the Kills at Elizabethport. The B. & o .
Branch of the Cent. Pac., by which it reaches San Francisco and the guarantees the 2d mort. bonds of this Co., and owns a majority of its
main line of Central Paciflo. At Yuma, connects with its closely affili stock of $500,000. The income bon is are held by the B. <Ss O. and S. I.
ated lines extending to Galveston and New Orleans. The Colorado R. T. cos., one-half each. Gross earnings in 1884-5, $122,989; net,
$55,074; clef under interest, taxes, &c., $80,773. Gross earnings in
Div. of 242 miles is leased and opera ed by ihe Atl. & Pao. Railroad.
Or g a n iza tion , «fee.—The Southern Paoiflo was a consolidation Oct. 12, 1885-86, $298,614; net, $76,863; deficit under interest, rentals, &o.
1870, of several lines in California. The Central Pacific RR. leased $111,979. (V. 43, p. 12 ; V. 44, p. 495; V. 45, p. 212.)
the southern division, but in March, 1885, this lease was annulled and
S terlin g M o u n ta in (N. Y .)—Road runs from Sterlington on the
the whole line was leased to the Southern Paciflo Company on the basis Brie Railway to Lakeville, 7 6 miles. Bonds guaranteed by Sterling Iron
■of lessees paying all charges, and giving to this company 26*2 per cent & Railway Co. Stock, $80.000. Earnings in 1885-85, $26,017 gross
of; the annual net profits of the whole S. P. system. In October, and $6,924 net: in 1884-85, $26,216 gross and $9,876 net.
1884, leased to the A. & P. the 242 miles of road extending from the
S to ck to n & C o p p e ro p o lis.—Present company is a consolidation,
western terminus of the A. & P. to Mojave, and right of way over the bal made Nov. 17,1877, or the Stockton <Ss Copperopolis and the Stockton <Sc
ance of the line to San Francisco, at a fixed rental. (See terms of this Visalia. Line of road, Stockton to Milton and Peters to Oakdale,Cal., 49
agreement in St. Louis & S. F. report in Ch ro nicle . V. 40, p. 594.)
miles. Leased to Central Paciflo Railroad Company for thirty years
Stock and Bonds.—The authorized stock is $90,000,000, of which from December 30,1874. By the terms of the lease the lessee agrees to
$44,039,100 has been issued and is held mostly by the So. Pacific Co. pay principal and interest of the bonds. Capital stock, $234,500. The
The bonds above are in series A, B, C, D, E and F, of which A included iompany previously made default July, 1874, and the $1,000,000 of
$15,000,000 and B, C and D each $5,000,000, the balance being divided did bonds were exchanged for the present issue guaranteed. In 1885,
between E and F; the bonds are issued at the rat* of $40,300 per mile on gross earnings, $76,817; net, $33,063. In 1886 gross earnings, $112,road and lands, except the Colorado Division, which is bonded at $10,- 008; net, $30,581.
OOO per mile. The series A, B, C and D mature in 1905-6, the series E
S u b u rb a n R a p id T r a n s it.—This company has built a bridge
and F in 1912. The bonds are a mortgage on the lands, and as proceeds
the Harlem River, N. Y. City, and is in operation to 161st Street,
-of lands come into the hands of the trustees, bonds are purchased and across
N.
Y., 21* miles. The line as laid out is 14-90 miles long. Littlo informa
retired. There is also a sinking fund of $100,000 per year.
tion
has
yet been obtainable concerning its finances. In July. 1886,
L and G ran t .—The land grant was 12,840 acres per mile, and proceeds
Manhattan Elevated stockholders were offered the privilege of
of sales go to retire bonds. The total grant is estimated to furnish the
and bonds, as follows: Each 100 shares of Manhattan
10,445,227 acres, but a large proportion of the lands is barren and taking itstostock
take 7 shares 8. R. T. Co., and 7-10 of a $1,000 bond.
useless for agricultural purposes without irrigation. In 1885 the sales entitled
R. Filley, President, 40 Wall Street.
were 362,254 acres for $845,783; land bonds redeemed, $613,000; Samuel
S u m m it B r a n c h (P a .)—This company leases the Lykens Valley
land notes outstanding Deo. 31, 1865, $2,213,199.
RR., and it has a small branch of its own to Summit Mines, % of a mile.
The annual report for 1885 was published in the Ch ronicle , Y. 43, p. The
road is operated by the Northern Central under contract. Traffic is
274. Income account was as follows: Net profit under the lease over
exclusively coal. Gross receipts in 1886, inolud. coal, $732,624;
n il charges, $2o8,381; proportion of net profits of Southern Pacific almost
net,
$13,689. Gross in 1885, $1,402,405; net, $174,646; interest, $83,Company under the lease, $308,143; total net profits, $>17,125.
net profit in 1885. $116.529. (V. 44, p. 185.)
From Jan. 1 to June 30. 1887 ( months), gross earnings of Northern 195;
S u n bu ry H a z le to n Sc W ilk e sb a rr e .—Sunbury to Tomhicken,
•Division were $796.257, against $622.560 in 1886; net, $341,921, ag’st Pa.,
43 miles. Foreclosed March, 1878. Stock, $1,000,000. The Penh.
$266,458. From Jan. 1 to June 30, 1887 (6 months), gross earnings Railroad
has a large interest in it. Gross earnings in 1885, $493,197;
o f Southern Division were $1,945,581, against $1,678,007 in 1886; net, net, $267,255.
Gross in 1886, $425,361; net, $195,538. J. N. Du
$633,968, against $ 584,866.
Barry,
President.
Philadelphia. (V. 43, p. 275.)
Gross earuiDgs No. Div. from Jan. 1 to Dec. 31, in 1986, $1,649,826,
S
u
n
b
u
ry
&
L
e w is t o w n .—Selinsgrove Junction to Lewistown,
against $1,281,764 in 188?; net, $811,967 in 1886, against $542,851 in Pa., 43 miles. Leased
to Pennsylvania RR. for contingent interest in
1885. Southern Division, Jan. 1 to Dec. 31,1886, $3,294,141, against net earnings, which in 1884
were $105,855; in 1885, $168,268; in 1886,
$3,131,745 in 1885 ; net, in 1886, $1,067.974 against $1,410,230 in $123,536. Stock, $600,000 and
div’s of 6 per ct. a year have been paid.
■1885. (Y. 43, p. 274, 548; V. 44, p. 204, 370.)
S
u
sp
en
sion
B
rid
g
e
Sc E rie J u n c t io n .—East Buffalo Junction
S ou th ern P a c ific o f N ew M e x ic o .—Road extends from Ari to Niagara Falls and Suspension Bridge, 23 miles; Lock. <Ss Buff. RR.
zona State Line to the Rio Grande at El Paso, Texas, 167 miles. Oper leased, 14 miles; total operated, 37 miles. Road opened January, 1871.
ated under lease to Southern Pacific Company, the lessee paying all it is leased to New York Lake Erie «&Western Railroad Co. at 30 per cent
•charges and 4 per cent of net profii s (if any) of the whole So. Pacific of
gross receipts, which are guaranteed to be not less than $105,000 per
system. Stock, $6,888,800. From Jan. 1 to June 30, 1887 (6 |months), annum.
Lessees own all stock except 297 shares.
gross earaings were $372,909, agaiust $350,584 in 1886: net, $169 Syracuse
B in g h a m to n Sc N ew Y o r k . — Owns from Geddes,
-428, against $183,740 in 1886. Gross earnings in 1885 $683,249; sur N. Y., to Binghampton,
N. Y., 81 miles. Chartered as Syracuse & Bing
plus overcharges, $127,133. Gross earnings in 1886, $667,196; net. hamton and opened Oct.
23, 1854; foreclosed and reorganized April
$310,131.—(V. 44, p. 370.)
’
’ 80, 1857, and leased to Delaware
Lackawanna & Western. In 1885-86
S o u th w estern (G a.)—From Macon, Ga., to Eufaula, 144 miles; gross earnings, $742,024 ; net, $307,418;
$141,400; dividends
has 177 miles of branches, the main one being from Fort Valley to Col (6*« percent), $162,500. In 1884-85, gross,interest.
net, $275,329;int.
umbus, 71 mues. A lease was made Aug. 1,1869, to the Central RR. $141,400; div. (4 p. 0.), $100,000; surplus,$692,76l;
$33,929.—(V.
45, p. 212.
•f Georgia which assumes the liabilities and guarantees 7 per cent on
Syracuse
G
eneva
Sc C o r n in g .—Owns from Corning, N. Y., to
the stock, but. 8 per cent is to be paid if 10 per cent is paid on Central Geneva, N. Y., 58 miles, and Penn Yan to Dresden, 6 miles; total. 64
stock. In June, 1881, $32 per share in 6 per cent debt certificates was miles. This road was opened December 10, 1877. and is leased to
•«declared by Central Georgia Railroad.
the Fall Brook Coal Co. at a rental of 3313 per cent of its gross earn-S ou th w est P e n n s y lv a n ia .—Greensburg, Pa., to Fairchanoe, Pa., ngs. Stock is $1,325,000. In 1884-85 gross earnings were $671,690;
Septembeb, 188?. J
RAILROAD
STOCKS A N D
BONDS.
105
1 06
INVESTORS’ SUPPLEMENT,
[VOL. XLV.
Subscribers w ill c o n fe r a great fa v o r by g iv in g im m ed ia te n o tic e o f a n y e rro r d iscov ered in tbese T ab les.
DESCRIPTION.
For explanation of column headings, &c., see notes
on first page of tables.
Bonds—Prim i
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
Par Outstanding
of
of
Rate per When Where Payable, and by Stocks—Last
Dividend.
Whom.
Road. Bonds Value.
Cent. Payable
43 1883
Syracuse Ontario dt New Yorh—Bonds............ ..........
1883
2d mortg., income.......... ...........................................
114
'Terre Haute dt Indianapolis—Stock ($1,988,150)—
1873
Bonds of 1873 coupon & reg....................................
Consol, mortgage.......................................................
182
’Terre Haute tS Logansport.—Stock.............................
1st mortgage, guar, by Terre Haute & Ind’napolis
93 1879
1st mortgage, extension (2d on 93 m iles)....
65 1883
T erre Hauie dt Peoria—1st mortgage, g o ld ___
173 1887
Texas Central—1st mortgage, g o ld ..................
177 1879
52 1881
N. E. Div., mort., gold (2d on 177 miles)___
General mortgage, (pledged)..........................
228 1884
Texas dt N. Orleans o f ’74—1st mortg. land gr., coup 105 1875
104 1882
.Sabine Division, 1st mortgage, gold...............
1883
Debentures.......................................................
Texas dt Pacific—Stock.........................................
1,487
524 1875
1st mortgage, gold, coup. (E. D iv.)...............
524 1875
"2d mort., consol., gold, coup. (E. D iv.)..........
524 1875
Income and land mort., E. Div.. reg.............
’79-’85
Bcrip for int.on ino.mort. (red’mable in st’k or land)
521 1880
1st mort., gold, Rio Grande Division............
336 1880
New Orleans Pacific, 1st mortgage..................
1,487 1884
General and terminal mortgage ($6,500,000)
54 1852
Tioga RE.—1st mortgage, due 1882 and extended.
54 1876
Consolidated mortgage...................................
20 1875
Extension bonds...............................................
7 1875
Elmira State Line Railroad mortgage..........
61 1881
Toledo Ann Arbor dt N. Mich.—1st (T. A. A. & G. T.)
106 1884
1st mort.,gold ($2,120,000)............................
55
Toledo Canada Southern dt Detroit—Stock.......
196 1885
Toledo dt Ohio Central—1st mort. gold, interesl
'Toledo Peoria dt West.—1st M., new (for $5,000,000) 230 1887
$ ....
50
1,000
50
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
__
1,000
1,000
1,000
....
1,000
1,000
1,000
....
....
1,000
1,000
1,000
1,000
$900,000
500.000
1,401,880
1,600,000
(1)
500,000
500,000
1,000,000
1,800.000
2,145,000
1,254,000
2,286,000
1,620,000
2,075,000
584,000
34,173,600
3,784,000
9,316,000
7,992,000
2,240,000
13,028,000
6,720,000
2,8^9,000
239,500
125,000
265,000
160,000
1,260,000
1,600,000
1.547,662
3,000,000
4,500,000
6
6
3
7
5
1933
1983
F. & A. N.Y.,Farmers’ L.&Tr.Co Aug. 10. 1887
1893
do
do
A. & 0.
J. N.Y ., Farmers’L.&Tr. Co.
do
do
J.
S. N. ST., Union Trust Co.
N. Last paid Nov., ’84.
N. Last paid Nov., ’84.
N. Last paid Nov., ’84.
A. N. Y., Company’s Office.
do
do
S.
do
do
J.
Jan. 1, 1910
Jan. 1, 1913
Mar. 1, 1937
Nov. 1, 1909
May 1, 1911
Nov. 1, 1934
Aug. 1, 19C5
March 1,1912
1893
6
6
5
7
7
6
7
6
6
J. &
J. &
g. M. &
g.
.&
g. Ai. &
M. &
F. &
g* M. &
J. &
6
6
7
6
6
6
6
5
g. M. & S. Last paid Sept., 1885. March 1, 1905
g. J. & D. Last paid Dec., 1885. June 1, 1905
July. New York& Philad’phia Jan. 1, 1915
7
7
7
6
6
g. F. & A.
g* J. & J.
A. & O.
M. & N.
M. & N.
A. & O.
A. & O.
g. J. & J.
g. M. & N.
Last paid Aug., 1885
Last paid July, 1885
Last paid Oct., 1885
Phil.,Newbold Sons &Co
Feb.
July
Oct.
Nov.
Nov.
Oct.
Oct.
N.Y.,Farmers’ L.&Tr.Co Jan.
N. Ÿ., Cent, Trust Co.
May
1,
1,
1,
1,
1,
1,
1,
1,
1,
1930
1920
1905
1915
1896
1905
1895
1921
1924
5 g. J. & J. N. Y., Central Trust Co. July 1, 1935
New York Agency
July 1, 1917
4 g. J. & J.
Viet, $163,611; rental, $223,897; taxes, $10,559; deficit to lessee.
In Dec., ’ 85, L. A. Sheldon and John C. Brown were appointed receiv
"$70,844. In 1885-6, gross, $638,921; net, $167,434; rental, $212,974; ers. The plan of reorganization formed by the junction of the two
•2. oss to lessee, $45,540.
committees provides that the old first mortgage due 1905 shall
Syracuse Ontario & New Y o rk .—Owns from Syracuse, N. Y., stand, and all others shall be foreclosed. A new 5 per cent first
t o Eariville, N. Y., 45 miles. The Syracuse & Chenango Valley Rail mortgage, “ A” (subject to the old morts. and Texas lien, $3,951,road was sold in foreclosure and a new company organized March 14, 000 In all), shall be made for $25,000,000, and a new 5 per cent
1873, under the name of Syracuse & Chenango Railroad; on April 15, income second mortgage, “ B,” for $25,000,000, non-cumulative.
1877, road was again sold m foreclosure and still again reorganized These were to be distributed to the holders of old bonds as stated
•under present name in 1883. The N. Y. West Shore & Buffalo acquired in V. 43, p. 164, except that holders of Land Income bonds took 60
control of the property. Stock, $404,600. Earnings in 1885-86, gross, per cent in the new “ B” bonds in addition to the lands, but in Sept.,
$88,505; deficiency after charging out interest account, $47,811. In 1887, notice of a change was given, viz.: The interest on new first
1884-85 gross earnings $91,596; deficiency after charging interest. mortgage bonds shall begin June 1, 1888, aud the first coupon be pay
able Dec. 1,1888. As compensation, the holders of each consolidated
$73,096.
per cent mortgage bond on tbe Eastern Division receive 115 35 per
T erre H a u te & I n d ia n a p o lis .—Owns from Indianapolis to Illi- six
in the new first mortgage bonds, instead of 112 per cent. Holders
nois State Line, 79 in., with coal branches, 34 m.; total, 113 m. The road dent
each New Orleans Pacific bond receive 61'80 per cent in new first
w as opened in 1852 (as Terre Haute & Richmond). The company leases of
mortgage
bonds, instead of 6<> per cent. The holders of the Rio Grande
and operates the Terre Haute & Logansport RR., also the St. Louis Division bonds
41*20 per cent in new first mortgage bonds, in
Vandalia & Terre Haute Road on joint account with the Pittsb. Cm. & St. stead of 40 perreceive
cent, as in said agreement provided. The holders of
Louis RR., at 30 per cent of gross earnings, but guarantees the first and
bonds receive 25*75 per cent in new first mortgage
second mort. bonds. In June, 1887, a controlling interest in the stock Terminal
instead of 25 per cent. Tne new stock will be $50,000,000
w as sold to H. S. Ives and others in the Cincinnati Hamilton & Dayton bonds,
auth rized, and will be issued share for share to old stockhold
?interest. In 1885-6 gross earnings $1,053,090; net earnings and other ers
who
pay the $10 per share cash assessment. A land company will
receipts, $366,672; interest and 6 per cent dividends, $¿46,289; loss be formed,
and its stock issued to holders of the la d scrip and the In
o n T. H. & L. lease was $89,4s2. In 1884-85 gross earnings, $1,060,631; come
land
bonds as follow s: Scrip holders will receive 125
income, $358,470; interest and 6 per cent dividends, $231,289: loss on per cent formortgage
their scrip and interest to July 1,1885. Bondholders will
T. H. & Logansport lease, $76,634; betterments to T. H. & L. road, receive par for
their
bonds
without any interest. The several divisions
$45,202; surplus for year, $5,345. (V. 44, p. 714, 751; V. 45, p. 85 )
will be sold in foreclosure Nov. 8 and 10,1887, and probably purchased
Terre Haute & Logansport.—Owns from South Bend, Ind. by the New York committee.
t o Rockville, Ind., 159 miles; leased, Rockville to Terre Haute, 22 miles.
In 1885 the gross earnings were $5,826,401, and the net, $l,095,(m ).
Total operated, 182 miles. Formerly Logansp. Crawfordsv. & Southw., In 1886, gross earnings were $6,042,305; net, $526,191 (V. 43, p. 12,
which was sold in foreclosure Sept. 10, 1879, and reorganized under 41, 73. 103, 125, 133, 163, 191, 218, 275, 3 j9, 369, 399, 400. 432,
present name. Leased by Terre Haute & Indianapolis Railroad for 2S 516, 672; Y. 44, p. 119, 150, 276, 309, 495, 782; V. 45, p. 240, 3 0 3 .)
per cent of gross earnings, and first mortgage bonds guaranteed by
T io g a .—State line junction, N. Y., to Hoytville, Pa., 61 miles, and
that company. Rental in 1885-86, $119,759; loss to lessee, $89,482. Blossburg,
Pa., to Morris’ Run, Pa., 3 miles, of which is leased Elmira
>Rental in l»84-85, $108,562; loss to lessee, $121,836.
State Line Railroad, State line New York to Northern Central Rail
Terre Haute & Peoria.—Road operated from Terre Haute, via way Junction, 7 miles; and Arnot & Pine Creek RR., Arnot to Hoyt
Decatur, to Peoria, 173 miles. Tnis is the new company formed in Jan., ville, Pa., 12 miles. Controlled by N. Y. L. E. & W Gross earnings in
3.887, as successor of the Illinois Midland, sold in foreclosure Sept. 30, 1885-86, $393,454; net, $169,281; surplus over interest, rentals, &o.,
1886. That road embraced by consolidation the Peoria Atlanta & Dec $96,961. The stock is $391,200 com. and $189,700 pref.
atur, Paris & Decatur and Paris & Terre Haute. The stock is $2,160,T o le d o A n n A r b o r <fc N orth M ich ig a n . —(See Map )—Owns
GOO pref. and $3,240,000 com. The bonds w«-re issued to pay off receiv from
Toledo, O., to Mt. Pleasant, Mich., 171 miles, which carries the
er's certificates and to furnish money for steel rails, equipments, Ac. road into
the heart of the lumber region of Michigan; and branches
In New York, Mr, Simon Borg and associates were largely interested to South Lyon
and Macon Stone Quarry, 10 miles; total, 182 miles.
in the property. (V. 43, p. 2i7 , 431, 738; V. 44, p. 184, 495.)
Capital stock is $4,040,000. The old first mortgage on 61 miles covers
Texas Central.—Line of road from Ross, in McLennan Co., to the Southern Divi-ion, formerly called the Tol. Ann Arbor & Grand
-Albany, Texas, 177 m iles; Garrett to Roberts, 52 miles; total, 229 Trunk Railroad. The annual report for 1886 was in V. 44, p. 584. Gross
-miles. Is controlled in Houston & Texas Central interests, by which earnings were $380,251 andnec $158,156; interest charge, $145,600.
company it is operated; but accounts are kept separate. The authorized James M. Ashley, President, 150 Broadway, N. Y. (V. 43, p. t>08, 635;
stock is $1,000,000; total issued, $130,200, of which H, & T. C. holds, V. 44, p. 401, 527, 584.)
$50,000; Morgan Co., $75,000: directors, $5,300. Defaulted in interest
T o le d o C anada S ou th ern & D e tr o it.—Toledo, Ohio, to Detroit
in 1885, and judgment of foreclosure rendered in April, 1887, road to be (G.T. Junction), Mich., 55 miles. Road opened September 1,1873. Oper
« o ld June 29,1887. (V. 44, p. 495.)
ated by Canada Southern. The bonds were exchanged into Canada
T exas & New Orleans (o f 1874).—Houston, Tex., to Orange Southern first mortgage bonds at 70 per cent of face value.
^Sabine River), 104 miles; and Sabine City to Rockland, 1 0 4 miles;
T o le d o Sc O hio C en tral. —Owns from Toledo, O., to Corning, 184
xotal 208 miles. Belongs to the Huntington Southern Pacific system, miles, including 12 in. leased; Hadley Junction to Columbus, 29 m., in
together with the Louisiana Western. This was a reorganization, 1874, cluding 5 m. leased; Corning to Jacksonville, 12 m. leased; total
*®f the old Texas & New Orleans RR. The stock is $5,000,000, and operated, 225 m. This company was formed after sale in fore
a controlling interest is owned by the Southern Pacific. In addition to closure of the Ohio Cent, main line on April 1 5 ,’85. The preferred
-above bonds, there are $467,336 Texas School bonds. From Jan. 1 to stock is $3,108,000 and common $1,592,000; the first mortgage
•July 31, in 1887 (7 mos.1gross earnings were $686,874, against $548.- is for $5,000,000, but no more than $3,000,000 oan be issued
¿383 in 1886; net, $305,078, against $232,840.
except by consent of three-fourths of the present bondholders. The
For year 1886 annual report was in V. 44, p. 620; gross earnings in bonds have their interest guaranteed by the Columbus <fc H ocking
3.885 were $1,017,618; net, $462,273. In 1886 gross earnings were Valley RR. Co., and by an agreement with that company the stock of
$998,169; net, $482,136; surplus over charges, $114,989. C. P. Hunt- Col. & H. V. was offered iu exchange for three-fourths of the new stock
•£ ngton, Pres’t, New York. (V. 43, p. 133,163; V. 44, p. 344, 370, 620.) of Tol. & O. C., in the proportion or one share of C. & H. Y. for one of T.
T exas & Pacific.—(See Map Missouri Pacific.)—Eastern Division — & O. C. preferred, and one share of C. & H. V. for two shares of T. & O.,
From Texarkana to Marshall and thence to Fort Worth, 253 miles • C. common; the remaining one fourth of T. & O. C. stock, together with
Texarkana Junction to Whitesboro, 239 miles; Marshall to Shreveport’ all that acquired by C. & H. V. by the exchange, were deposited with
*40 miles; total eastern division, 532 miles. Rio Grande Divis’on— trustees. Afterward the trustees, on the request of three-fourths of the
•Fort Worth to Sierra Blanco, 524 miles; Sierra Blanco to El Paso (joint C. H. V. & T. stockholders, divide 1 the T. & O. C. stocks as a dividend
"track), 92 miles; Gordon Branch to coal mines, 3 miles; total Rio on Nov. 17,1885. (See agreement in V. 40, p. 597. From Jan. 1 to
^Grande division, 619 m. New Orleans Division—(Formerly N. O. Paci- July 31,1887 (7 mos.), gross earnings were $551,023, against $421,907
41c RR.) Shreveport to N. O. and Baton Rouge Branch, 336 miles in 1886; net, $169,021, against $121,195. The gross earnings for fiscal
year ending June 30, 1887, were $961,406; net over expenses and
Total of all, 1,487 miles,
The Texas & Pacific was built under act oi Congress of March 3,1871 taxes, $288,803; surplus over interest and all charges, $98,532 (V.
and other acts in 1872 to ’74, and the laws of Texas. This company suc> 43, p. 24, 548; V. 44, p. 91, »1 0 ,3 4 1 , 466, 682 ; V. 45, p. 240, 341.)
«ceded to the right of the Memphis El Paso & Pacific Railroad and other
T o le d o P e o r ia & W e s te rn .—Road owned from Indiana State
companies.
A consolidation with New Orleans Pacific, share line to Warsaw, 111., 2z0 miles; branch, La Harpe to Iowa, 111., 10 miles;
T ot share, was voted in May, 1881. From the State of Texas tracks leased to Peoria and to Burlington, la., 17 miles; total operated,
the company received 10,240 acres of land per mile, and by building 247 miles. This was formerly the Tol. Peoria & Warsaw, then the Tol.
oa st of Fort Worth earned 4,931,702 acres, on which the income bonds P. & Western, and as such was leased to and virtually merged in the
are a lien, as also a 3d mortgage on the road east of Fort Worth The Wabash 8t. Louis & Pacific. After the Wabash default in July, 1884,
1 Sands yet unsold at the time of last report, Dec. 31, 1884 were foreclosure proceedings were begun, and a sale was reached Oct. 29,
$,893,794 acres. The railroad lands in Texas, however, do not lie adia- 1886. The reorganization plan gave to each of the old first mortgage
•«e n t to the line of the roads owning them, but these are located in part bondholders one new $1,000 bond and 10 shares new stock; all other
. fin c ounties along the Rio Grande division, 1,030,611 acres being in stocks and bonds extinguished; stock. $4,076,000. Abstract of mort
Tom Green County, and 1,303,380 acres in El Paso County.
8
gage V. 45, p. 242, The accident at Chatsworth, 111., in August, 1887,
The terminal bonds are a first mortgage on terminal property in New by which over 100 lives were lost, has caused many suits for damages
v Orleans and at Gouldsborough; and on the Gordon coal mines.
against this company. (V. 44, p, 309; V. 44,p 425; V. 45, p. 232, 242.)
i<>y
MAP OF THE
TOLEDO, ST. LOUIS
• '
AND
KANSAS CITY
September, 1887.]
RAILROAD
STOCKS AND BONDS,
RAILROAD AND CONNECTIONS.
INVESTOKS’
108
SUPPLEMENT.
[Y o l . XLV.
Su bscribers w ill c o n fe r a great fa v o r by g iv in g im m ed ia te n o tic e o f a n y e rro r d iscov ered in these T ab les.
DESCRIPTION.
on first page of tables.
Bonds—Princf.
INTEREST OR DIVIDEN DS.
pal,When Due
Miles Date Size, or
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
of
Cent, Payable
Whom.
Dividend.
Road. Bonds Value.
$100 $12,250,000
4,805,000
100
9,000,000
1,000
500,000
1,000
1,424,000
1,000
925,000
1,000
1,000,000
1,000,000
1,000
200,000
1,000
74 1875
1,400,000
1875 100 &c.
100 21,342,400
443
1,342,000
1,000
1883
5,669,000
1,000
238 1873
2,000,000
1871
1,846,000
.... 1871
do
sterling loan mortgage, sinking fun<
1,800,000
1871
do
do
do
do
do
154,000
1871
do
dollar loan, m ortgage.......................
841,000
1878
do
gold loan, reg.......................................
866,000
1854
Joint Co.’s plain bonds.........................................
5,000,000
.... 1862
do
consol, mort. (sink’g fund after 1880
100,000
1868
N. J. RR. & T. Co., 3d loan due State of N. J .......
100 60,868,500
U nion Pacific—Stock............................................. ... 4,594
27,229,000
1,000
1st mortgage, gold, on road and equipment........ 1,038 1866-9
2d mortgage currency (Government subsidy)... 1,038 1866-9 1,000 27,236,512
14,483,000
3d
do
on road (2d on land), sinking fund. 1,038 1874
2,706,000
1867-9 1,000
Land grant b on d s............................................... - - 1,621,000
£200
1871
Omaha bridge bds, st’g, (s.f. about $65,000 yrly)
1,000
4,541,000
1879
Collateral Trust bonds............................................
1,000
4,567,000
1883
■Collateral trust oonds of 1883, g o ld ....................
1,000 13,955,005
1879
■Rans. Pac.,cons. M..,g.(for $30,000,000),op.orrs
1,000
2,240,000
140 1865
do
1st M., g, cp., on 140m. west Mo. Riv
Toledo St. L. AKansas City—Stock.....................
Pref. 4 per ct. coupon stock, non-eumulative.
1st mortgage, gold (redeemable on notice)—
•Tonawanda Valley A Cuba—1st mort. ($500,00
Troy A Boston—1st mortgage, consolidated.......
2d consol, mortgage (for $1,000,000).............
-Tyrone A Clearfield—Stock...................................
1st mortgage........................................................
Ulster A Delaware—1st mortgage........................
2d mortgage income bonds............................... .
United N. J. BB. A Canal Companies—Stock...
Gold bonds...........................................................
General mortg.,gold and currency, coup........
451
451
451
60
35
53
64
1886
1881
1874
1878
4
6 g.
6
7
7
2%
5
7
7
2%
4
6 g.
6
6 g.
6 g.
6
6 g.
6
6
6
1%
6 g.
6
8
7
8 g.
6
5
6 g6 g.
J. & J.
J. & D.
M. & S.
J. & J.
A. & O.
J. & D.
J. & J.
J. «Ss J.
F. & A.
Q .-J .
F. & A.
M. «Ss S.
A. «Ss O.
M. «Ss 8.
M. «Ss S.
F. «Ss A.
M. «Ss S.
J. «Ss D.
M. «Ss N.
A. «Ss O.
Q.—J.
J. «Ss J.
J. «Ss J.
M. «Ss S.
A. «Ss 0.
A. «Ss O.
J. «Ss J.
J. «Ss D.
M. «Ss N.
F. «Ss A.
First coup.due July, ’ 88.
N, Y., Bk. of N. Amer. June 1, 1916
New York Office.
Sept. 1, 1932
N. Y., Nat. B’k of Com.
1924
do
do
1903
Phila., 233 South 4th.
June, 1887
Rondout, Co.’s Office.
New York.
Phila. and N. Y. Offices.
Philadelphia Office.
do
do
Phila., Pennsylv’a RR.
London.
do
Phila., Penn. RR. Office.
do
Princeton, N. J.
Philadelphia Office.
N. Y., B’k of Commerce.
New York and Boston.
do
do
U.S. Treas., at maturity.
New York and Boston.
do
do
London & New York.
N. Y., Union Trust Co.
Boston, N. Engl’dTr.Co.
N.Y., 40 Wafl Street.
do
do
July 1, 1905
July 1, 1905
Oct. 10, 1887
Feb. 1, 1923
Moh. 1, 1901
Oct. 1, 1894
Mch. 1, 1894
Mch. 1, 1894
Feb. 1, 1888
Sept. 1, 1908
¿an. 1, 1889
Nov. 1, 1889
Overdue.
April 1, 1884
1896 to 1899
1896 to 1899
Sept. 1, 1893
1887-’89
April, 1896
July 1, 190
Dec. 1, 1907
May 1, 1919
Aug. 1, 1895
operated by the Missouri Pacific under an agreement with Union Paeifio
for twenty-five years from 1885, and not included in the mileage oper
ated by Union Pacific. The U. P. also has large interests in the St. Jos.
& West. RR., 251 miles; the Utah Central. 280 m.; Leavenworth Topeka
& S. W., 47 m.; Manhattan Alma & Burlingame, 56 m. and Nevada Cen
tral, 93 m .; total, 738 miles, all of which are operated separately.
In 1886 a lease of the Oregon Railway & Navigation Company to the
Oregon Short Line, guaranteed by Union Pacific was negotiated.
Organization , &c.—This company, the Union Pacific Bailway, was
formed by a consolidation, Jan. 24,1880, of the Union Pacific RR. and
the Kansas Pac. and Denver Pao., made under authority of the aots of
Congress of July 1,1862 and July 2,1864. The Union Pac. RR. was
chartered by Act of Cungross of July 1,1862, which gave the company a
land grant of 12,800 acres per mile, estimated at a total of 12,083,227
acres, and a subsidy in U. S.bonds of $27,236.512 on 1,033 miles of road.
The Kansas Pacific was organized as “ Leavenworth Pawnee & West
em ” in 1861; then changed to “ Union Pacific, Eastern Division,” June
6,1863, and to “ Kansas Pacific” on March 3, 1869. The Pacific Rail
road aots of 1862 and 1864 applied to this road, and gave it a subsidy
of $6,303,000 and a land grant of about 6,000,000 acres.
The Denver Paeifio—Denver to Cheyenne, 106 miles—was built under
the charter of the Union Pacific, E. D. (Kansas Pacific).
As to the debt of the Pacific railroads to the United States Govern
ment a decision of the U. S. Supreme Court settled the point that the
payment of interest on the loans was not obligatory on the companies
till the principal of the bonds became due. Afterwards Congress passed
the Thurman Act, May 7,1878, which, for the Union Pacific, provided
that 25 per cent of the net earnings, after deducting interest on the
first mortgage bonds and construction and equipment expenditures,
should be paid annually to the Government as follows : First—
Applied directly to interest account, one-half of Government earn
ings and 5 per cent of net earnings, after deducting interest on
first mortgage bonds. Second—To be placed in the sinking fund—
the other half of the Government earnings and so much of $850,000 as
may be necessary to make all the payments by the company equal 25
per cent of its net earnings. On Deo. 31, 1886, this sink, fund invested
in U. S. bonds (par value) was $5,526,100, and the premium paid on
bonds and cash uninvested was $1,395,708; total, $6,921,809.
Sto ck and B onds .—The capital stock issued and outstanding is
$60,868,500, having been increased about $10,000,000 since the consoli
dation in 1880. Dividends since 1879 have been as follow s: in 1880, 6
per cent; in 1881, 6%; in 1882,7; in 1883,7; in 1884, 3%; none since.
The yearly range in prices of the stock has been—In 1880, 80® 113%;
in 1881, 105%® 131%; in 1882, 98%®119%; in 1883, 70%®104%; in
1884,28®84»s: in 1885,41® 62%; in 1886,44%® 68%; in 1887 to Sept. 16,
inch, 51 ®8®63%.
Of the Union Pacific collateral trust bonds, the first issue is limited to
80 per cent of the following bonds: Omaha & Republican Valley RR.,
$1,037,000; Colorado Central Railroad bonds, $2,105,000; Utah North
ern Railroad, $2,387,000; total, $5,529,000. The collateral trust
bonds of 1883 are secured by the following bonds: Colorado Central RR.
$1,397,000; Utah & Northern RR. $2,231,000; Omaha & Rep. Valley
RR. $684,000; Utah Southern RR. extension $93,000; Denver So. Park
& Pac., $1,799,000; total, $6,204,000.
The outstanding bonds of Kansas Pacific above are given less the
amounts of each class held by the trustees of the general mort. The con
U n ited N ew J ersey R a ilr o a d & Canal C o.—Lines op R oad.— sol. mortg. trustees are Jay Gould and Russell Sage, and they held in
New York to Philadelphia and branches, 135 miles; Camden to Amboy trust on Jan. 1, 1887, the following bonds oi the Kansas Pacific, making
.-and branches, 226 miles; Trenton to Manunka Chunk and branches, $6,799,150 in all, viz.: Leavenworth Branch, $582,000; income (unsub
« 1 miles; total operated, 443 miles. Delaware <&Raritan Canal, 66 miles. ordinated) bonds. $217,750; income (subordinated) bonds, $3.948,400;
This company was formed by a consolidation in 1867 of the Delaware & Cheyenne Branoh Den. Pac. bonds, $2,051,000. They also held $1.997,Raritan Canal Company, the Camden & Amboy Railroad, and the New 500 of the stocks and $3,160,000 of the bonds of other companies
-Jersey Railroad & Transportation Company. The United New Jersey controlled by the Union Pacific.
¿Railroad & Canal Companies were leased in May, 1871, to the Penn
L and G rant .—The proceeds of land sales on the Union Paoiflo main
sylvania Railroad for 999 years, at a rental o f 10 per cent on the line are applicable to the principal ot the land grant bonds, and after
«stock, besides interest on bonds. The smaller leased roads were taken that to the sinking fund mortgage 8 per cent bonds. On the Kansas
w ith their several contracts. The lease has not been directly profitable Pacific the cash income from land is applied to the general mortgage. On
' In cash receipts to the Pennsylvania Railroad, and the net loss in 1879 Deo. 31 ’ 86, the company had in cash from the Un. Pacific grant the sum
w as $939,889; in 1880, $1,035,308; in 1881, $302,864; in 1882, *568,- of $4,912,906, and in land contracts $9,095,341, which sums are appli
759; in 1883, $635,914; in 1884, $593,536; in i885, $159,496; in 1886, cable first to the payment of the land grant bonds, and then to the pay
■$179,016; but the connection with New York was indispensable. Oper ment of the 8 per cent sinking fund bonds due in 1893. On Jan 1,1887,
ations and earnings are included in the Pennsylvania RR. report.
the U. Pac. lands unsold were 3,175,507 acres, estimated at $2,395,507;
U n io n P a c if ic R a i l w a y . —(See Map.)—Lines op R oad.—Main the K. P. lands unsold, 3,883,700 acres, estimated at $11,608,763.
The sales in 1884,1885 and 1886 were as follow s:
fine—Council Bluffs to Ogden and branches, 1,049 miles; other
branches—Kansas City to Denver. 643; Denver to Cheyenne, 106;
Union Pacific—
1884.
1885.
1886.
Leavenworth to Lawrence, 34 ; total owned, 1,832 miles ; controlled
4,321.043
743,704
146,189
-and operated in the Union Pacflc system January, 1887—Omaha & Acres sold....................................
$1,223.227
$179,103
Repub. Valley RR., 289 miles; OmahaN. & Black Hills RR., 115; Color Am ount....................................... $6,517,773
$1 52
$1 65
$1 22
a d o Central RR., 327 ; Echo <Ss Park City RR., 32; Utah & Northern RR., Average price.............................
Kan. Pacific—
-466 ; Lawrence & Emporia RR., 31 ; Junction City & Ft. Kearney, 88 ;
452,566
690,294
225,623
-Solomon RR., 57 ; Salina & Southw’n, 35; Kan. Cen., 167; Den. & Boulder Acres sold....................................
$2,817,159 $1,049,122
V alley., 27; Golden Boulder & Car., 5; Oregon Short Line and branch, Amount........................................ $1,917,876
$4 21%
$4 08
$4 68
<611 ; Greeley Salt Labe & Pacific, 54; Denver South Park <Ss Pacific. 322; Average prioe,............................
« a lt Bake & Western, 57; Georgetown Breckenridge & Leadville, 8 miles;
T o ta lMontana Railway, 9 miles ; Denver & Middle Park, 4 miles; Denver Acres sold....................................
4,773,609
1,433,999
1,571,812
Marshall & Eoulder, 27 miles; Laramie No. Park & Pao., 14 miles; Man Amount........................................ $8,435,649
$4,040,387 $1.228,225
hattan & Blue Valley, 54 miles; Marysville & Blue Valley, 13 miles:
The Kansas Pacific lands, from the 380th mile westward, are covered
- Salina Lincoln & Western, 35 miles; total thus controlled, 2,762 miles;
first by the Denver Division mortgage, and all the lands of the Kan. Pao.
¡ total operated in the U. P. system Jan. 1,1887,4,594 miles.
The Central Branoh Union Paeifio and leased lines (388 miles) are by the consol, mortgage.
T o le d o St. L o u is Sc K a n sa s C i t y .- (See Map.)—From Toledo to
■fit. Louis, 451 miles. On June 2«, 1887, the road was made standard
gauge on the Toledo Division, 206 miles, and the balance to E. St Louis
vsras to be made standard in the lall of 1887. This company wasformed
June 12,1866, by consolidation, and it took all the main line of the
’Toledo Cin. & St. Louis narrow gauge road, foreclosed Dec. 30,1885.
The present common stock and the first mortgage bonds were issued
for the purchase of the property, payment of receiver’s liabilities,
broadening the gauge, <Ssc., &c., and $4.000 per mile of said mortgage
bonds were reserved for obtaining standard gauge equipment. The
preferred stock is a coupon stock, non-cumulative, and without voting
p o w e r; the bonds may be paid off at par on notice to the holders. Pro
vision has been made for the payment of interest till 1889 incase
earn in gs are insuflicient. All the securities are yet held in trust except
$2,000,000 of the bonds, $4,805,000 pref stock and $2,50u,000 com
mon stock. Bee full statement as to this company in V. 43, p. 74; V. 44,
¿p. 754.
The status of the Tol. Cin. & St. Louis from time to time was given in
4he S upplem ent up to June, 1886. The only stock or bond holders of
the Tol. Cin. & St. Louis who received anything for their holdings were
isthe first mortgage men, who took 150 in new pref. stock for Tol. Delphos
■A B. firsts and 100 in new pref. stock for St. Louis Division firsts. (V.
43, p. 73. 369, 432, 580, 634; V. 44, p. 459, 499, 714, 752, 754, 782,
« 0 9 ; Y. 45, p. 26.)
T o n a w a n d a V a lley Sc C u ba. —Owns from Attica, N. Y. to Cuba,
N. Y., 60 miles. Stock $587,100. $113,000 of 1st mort. bonds were re
served to redeem same amount of 6 per cent bonds due 1910. Mr.
Bird W. Spencer was appointed receiver in 1884, and reorganization is
pending. Gross earnings in 1885-86 (8 mos., nosed during rest of fiscal
year) $10,«-,24; deficit, $3,195. Gross in 1884-85, $18,694; def., $5,073;
ether receipts, $2,929; net deficit, $2,143. (Y. 44, p. 235.)
T r o y Sc B o s to n .—Owns from Troy, N. Y., to Vermont State line, 35
miles; leased : Southern Vermont 5 miles ; Troy & Bennington, 5 miles ;
Vermont State line to North Adams, 6 miles ; total operated, 53 miles.
Stock, $1,645,600. In addition to the above bonds there were out
standing Sept. 30, 1886, several smaller issues of bonds amounting to
$306,500. In January, 1887, an agreement of consolidation was made
with the Fitchburg of which the terms were given in V. 44, p. 544.
.Earnings for three years past were : In 1883-84, gross, $483,561; net,
$192,539; in 1884-85, gross, $420,743; net, $192,724; in 1885-86, gross,
$475,206; net, $230,989. (V. 44, p. 59, 91,119, 309, 421, 527,544,551.)
T y r o n e Sc C learfield.—East Tyrone Pa., to Curwensville, Pa., 44
miles; branches, 20 miles; total, 6 4 miles. This company was organized
April 1,1867, after sale in foreclosure. It was leased to the Pennsyl
vania Railroad in 1878 and new lease for 50 years made in 1382. Gross
-earnings in 1885, $551,000; net, $121,344. Gross in 1886, $484,142 ;
net, $155,830. J. N. Du Barry, President, Philadelphia, Pa.
U lster & D e la w a r e .—Owns from Rondout (Hudson River), N. Y.;
to Stamford, N. Y., 74 miles; branch to Hobart, leased, 4 miles; total,
78 miles. This was the Rondout <SsOswego in 1870, reorganized May 28,
1872, as New York Kingston & Syracuse, and again after foreclosure,
May 1, 1875, as Ulster <Ss Delaware. The stock is $1,152,100. There
are also $50,OC0 real estate mortg. bonds. In 1884-35 the gross earnings
were $3*5,837; net earnings $120,527. In 1685-86, gross, $339,566;
met, $140,471. Thomas Cornell is President, Rondout, N. Y.
10®
BONDS.
AND
ä o
STOCKS
RAILROAD
S e p t e m b e r , 1887.J
n
INVESTORS’
o
SUPPLEMENT
[Vol. XLY.
Subscribers w ill confer a great favor by giving immediate notice of any error discovered in tbese Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
pal,When Due
Amount
Par
of
Rate per When Where Payable, and by Stocks—Last
Tor explanation of column headings, &c., see notes of
Outstanding
Road. Bonds. Value.
Whom.
Cent. Payable
on first page of tables.
Dividend.
U nion Pacific—(Continued)—
runs«,» Pac., 1st mort., gold, 140th to 393d mile,
do
2d M.(to U.S.Gov.) on 394m.\V. Mo.R.
do 1st,394th to 639th m., l.g., 3,000,000 acs
do
1st mort., coup., (Leavenworth Br.)..
do
Income bds, coup., 3d M.on 427 miles
U ta h Central—Stock......................................................
1st mortgage, gold.....................................................
Utah Southern, general mortg. (for $1,950,000)..
Utah South. Exten., 1st M., Juab to Frisco..........
Utah dt Nevada—Stock......... .............................. .......
Utah dt Northern.—1st mortgage...............................
Utica dt Black River—Stock.........................................
Mortgage bonds..........................................................
Black fiv e r & Morristown, 1st mortgage..............
Clayton 4c Theresa, 1st mortgage, guaranteed---Ogdensburg & Morristown, 1st mortgage---Utica Chenango dt Susquehanna Valley—Stock
Utica Clinton dt Binghamton—1st mortgage...........
Valley (N. ¥.)—Stock.........................................
1st mortgage....................................................
Talley (Ohio)—1st mortgage, Clev. to Canton
Consol, mortgage gold (for $4,000,000)........
Talley ( T a j—1st mortgage..............................
Vermont dt Massachusetts—Stock..... ................
Bonds of 1883 (guaranteed by Fitchburg R R .)...
Verm ont Valley o f 1871—Stock.......................
1st mortgage....................................................
1866 $1,000 $4,063,000
....
1865-7
6,303,000
1,000
1869
6,258,000
1,000
1866
18,000
50 &c.
1866
109,200
100
4,225,000
1,000
1870
1,000.000
1,000
1879
1,950.000
1,000
1879
1,950,000
_
555,860
1,000
1878
5,543,000
100
2,223,000
1871
1,107.000
1874 500* &e.
500,000
....
200,000
1,000
1883
143,000
100
4,000,000
’66-’72 500 &c.
790,000
....
750,000
. ...
18^1
400,000
1879 100. &c.
1,600.000
1,000
1881
1,700,000
1,000
1881
750,000
100
3,193,000
___
1883
1,000,000
....
50
50
1,000,000
24 1880 •1,000
800,000
253
394
245
34
427
280
36^1
105
138
37
462
180
87
36
16
10
97
31
12
12
59
76
113
59
6 g.
6
6 g.
7
7
1
6 g.
7
7
1*3
7
4^
7
7
7
5
3
6 &7
5
5
7
6
6
3
5
3
5
J. & D. New York, 40 Wall St.
M. & N.
M. & N.
M. & S.
Q.--J.
J. & J.
J. & J.
J. & J.
J.
M.
J.
J.
J.
J.
M.
J.
&
&
&
&
&
&
&
&
J.
S.
J.
J.
J.
J.
N.
J.
F.
J.
M.
A.
A.
M.
J.
A.
& A.
& D.
& S.
& O.
& O.
& N.
& J.
& 0.
June 1, 1896
1895 t o '97
Sept. 1, 1899
Jan 1, 1896
July 1, 1916
Oct., 1884,
Jan. 1, 1890
July 1, 1909
July 1. 1909
In 1886
New York, 40 Wall St.
July 1, 1908
N. Y., R. W. <te O. Co.
Aug., 1887
N. Y. Cent. Trust Co,
Jan. 1, 1891
do
do
Jan. 1, 1894
do
do
July 1, 1898
do
do
Jan. 1, 1891
N. Y., D. L. & W. RR.
May 1, 1887
N. Y., Cont. Nat. Bank. 1886 & 1890
N. Y., D. L. &W.
During 1886
do
do
Aug. 1, 1911
New York, Cent. Tr. Co. June 15, 1906
do
do
Sept. 1,1921
Balt, and New York.
Oct. 1, 1921
Boston, Office.
April 7, 1887
Boston. Fitchburg RR. May 1, 1903
Bellows Falls.
July 1, 1887
Bost., Safe Dep. & Tr.Co Oct. 1, 1910
N. Y., Lond. & Frankf’t.
New York, 40 Wall St.
N. Y., Bk. of Commerce
New York, 40 Wall St.
do
do
do
do
do
do
O perations , F inances, &c.—The Union Pacific has made large earn
ings and until 1883 and 1884 operated its road at a low percentage of
«xpenses. The competition and reduction of rates by building of new
lines was the main cause for the decline in earnings. The company has
extended rapidly and built and acquired much new mileage, of which
the Utah Northern and Oregon Short Line are two of the most import
ant branches.
From Jan. 1 to July 31,1887 (7 mos.) gross earnings were $15,501,264, against $13,724,535 in 188b; net, $5,350,652, against $4,590,658.
The annual report for 1886 was in the Chronicle, V. 44, p. 4 32, 43b,
and the following figures were given for the whole Bytern operated ;
—(V. 43, p. 50, 164,192, 245, 275, 309, 353, 366, 548, 608, 672, 738;
V. 44, p. 22, 23, 60,118.149, 212, 344, 413, 4 3 2 , 435, 4 3 6 , 586, 621,
782; V. 45, p. 53,142, 203.)
Utah Central—(See Map Un. Pacific)—From Ogden, Utah, to Frisco,
280 miles. A consolidation July 1, 1881, of the Utah Central. Utah
Southern and Utah Southern Extension. The road is controlled through
ownership of stock by Union Pacific. For 1885 gross, $742,240; net,
$287,853; fixed charges, $340,924; deficit, $53.071. In 1886, gross,
$771,800; net, $312,965; charges, $355,996 ; deficit, $43,031. (V. 45,
p. 203.)
FISCAL RESULTS.
Utah Sc Nevada.—Owns from Salt Lake City, U. T., to Terminus
U. T., 37 miles. The Utah Western made default January 1, 1878, ana
the road was held ny trustees for the bondholders, and was foreclosed
Nov. 3, 1880, and this company-organized. Gross earnings in 1885,
$58,588; net, $30,041. Gross earnings in 1886, $83,420; net, $40,750.
1884.
Miles operated Deo. 31..... . ........... 4,476
Earnings f rom—
$
Passengers.......................................... 6,070,897
Freight.................................................17.092,927
Mail, express and miscellaneous... 2,493,466
1885.
1886.
4,519
4,594
$
$
5.809.018 6,096 237
18,193,255 18.588,744
1,9^.2,899 1,918,815
Utah Sc Northern—(See Map Union Pacific)—From Ogden, Utah,
to Garrison, and the line of Northern Pacific, with branches to Butte
25,925,172 26.603,796 City and Anaconda Mines ; total, 466 miles. This road forms a connec
16,157,721 17,608,619 tion between the Northern Pacific at Garrison, Montana, and the Union
Pacific al OgdCn. Stock $5,543,000, and 6 per cent dividend paid In
8,995,177 1884, and l per cent Jan , 1885. The road was built by Union Pacific,
Net earnings............................. 10,789,175 9,767,451
which owns $4,816,400 stock and $4.968,000 bonds. For the year 1885,
Per cent of earnings to expenses...
57*95
62*32
65*19
gross earnings, $1,910.555; net, $288,935. In 1886, gross. $2,050,439;
net, $459,418; interest, &c., $388,010; surplus, $72,959.—(V. 43, p.
* Not including company’s freight.
125.)
INCOME ACCOUNT.
18o4.
1885.
1886.
Utica Sc Black River. —Utica, N. Y., to Ogdensburg, N. Y., 134
Receipts—
$
$
$
miles; Cartilage to SacKett’s Harbor (leased), 30 miles; Clayton to
Met earnings..............
10,789.175
9,687,441 8,995,179 Theresa, 16 miles; total, 180 miles. A consolidation with leased lines
Income from investments.................
406,416
1,382,811
890,020 was made in Match, 1-<86, embracing this mileage. The company has
7,455
10,335
13 015 paid modet ate dividends for a number of years. Iu April, 1886, the road
Miscellaneous land sales..................
investments, premiums, &o.............
66,474
............
670,341 was leased in perp tuity to the Rome Watertown & Ogdensburg RR.
Received from trustees K. P. con.
Co. at a rental guaranteed to pay fixed charges and 7 per cent yearly
mort. on account of interest..........
249,416
207,110 1,113,600 on the stock. ( v . 4 1, p. 276.)
Profit and lo s s ......................... ..........................
............
101.927
Utica Chenango Sc Susquehanna Valley.—Owns from Utioa,
Total income.................................11,518,936 11,287,697 11,784,082 N. Y., to Greene, N. V., 75 miles; branch to Richfield Springs, 22 miles;
total, 97 miles. Road opened October, 1872. Leased to Del. Lack. A
Jbitorertonbonds................................ 5,397,070
5,336,267 5,197,741 Western at 6 per cent on stock. Has no bonded debt.
Discount and interest........................
866,077
356,138
67,224
Dosses on invest., prem., <fcc................................
93,945
—
Utica Clinton Sc B ingham ton. —Owns from Utica, N.Y., to
Making fund, company’s bonds........
591,540
593.6o5
591,965 Randallviile, N. Y., 31 miles, and leases Rome & Clinton Railroad, 13
Interest-auxiliary lin e s .................. 1,213,036
1,191,010 1,298.399 miles. Total, 44 miles. Opened June 22, 1872, and leased to New
Land taxes, &o., Union Div..............
84,839
39,920
62,640 York & Oswego Midland Railroad. The lease was transferred to
Doss on Leav. Top. & S. RR................................
21.579
11,722 the Delaware & Hudson Canal Co., and subsequently to N. if. Ontario &
Western, which pays the rental of $70,500 p. r annum for U. Cl. & B.
Total expenditure........................ 7,652,5«2
7,632,464 7,229,681 and $25,500 for Rome <s Clinton. The road was operated by. the Del.
Surplus income................................... 3,866,374
3,655,233 4,554,401 Lack. <fc West, till April 1.1883. Gross earnings in 1884-85, $218,802 ;
fjww—U. S. requirements................. 1,187,110 1,184,053
808,033 net. $24,176. Gross in 1885-6, $229,400; net, $105,660. Capital stock,
$636,285. Isaac Maynard, Pres., Utica, N. Y.
Total surplus income..... ............ 2,679,264 2,471,180
3,746,365
Valley (N. Y.) Railroad. —Owns from Binghamton, N. Y., to State
* The difference ($80,010) between tbese figures and the net earnings line of Pennsylvania. 12 miles. Opened Oetober, 1871. Leased to
4Wgiven above is accounted for by deductions made this year to alio w Delaware Lackawanna & Western at 8 per cent per annum on stock,
proper comparisons.
which was reduced in 1882 to 5 per cent, the lessee assuming the interest
A comparison of the condensed balanoe sheet for three years is as on bonds. Samuel Sloan, President. New York City.
follows :
Valley (Ohio).—Owns from Cleveland, O., to Valley Junction, O.,
GENERAL BALANCE AT CLOSE OF EACH YEAR.
75 miles, and 20 miles of small branches. Of the consol, mortgage
1884.
1885.
1886.
$1,600,000
is held in trust to retire the first mortgage when due. The
Assets—
$
$
$
Road, equipment, &o.............. .158,918,607 159,298,919 161,283.688 consol, mortgage is a first lien on the Cleveland terminal property.
Capital,
$1,257,397,
par $50.
Earnings in 1886, $628,450;
Stocks and bonds owned, cost.. 37,499,325 39,233,527 35,529.187
Miscellaneous investments......
620.640
680,891
755,750 net, $303,8 >7. Earnings in 1855, $569,192; net, $261,446; surplus
over
payments,
$35,793.
(V.
43,
p.
572;
V. 44, p. 527.)
Advances......................... 4,797,936
3,415,280
5,697,670
Materials, fuel, &o.......... 1,220,612
1,683,432
2,889,218
Valley
(Va.)—
Owns
from
Harrisonburg
Salem, Va., 113 miles.
Caah and cash resources.................................
...............
1,351,190 In 1883 It was extended from Staunton to to
Lexington, 36 miles. By
Denver Extension sink’g fund.
407,000
522,480
638,639
this
and
connecting
lines
under
B.
&
O.
control,
the
distance from Lex
Trust 5 per cent sinking fund.......................
70,440
68,818
Bonds and stocks held in trust. 3,215,200
3,215,250
3,217,250 ington is 243 miles to Baltimore and 217 miles to Washington. The
Baltimore
&
Ohio
has
a
large
interest
in
its
securities.
In 1885-86, gross
Band department assets. 15,654,203
18,159,290 18,599,519
receipts. $125,667; net, $37,303. In 1884-5 gross, $118,953; net,
$34,665.
(V.
43,
p.608.)
Total..................... . ............... 222,333,523 226,279,509 230,030,959
Labilities—
Vermont Sc Massachusetts.—Line of road, Fitchburg to Green
Stock................................. 60,868,500
60,868,500 60,868,500
Funded debt..................... 84,173,^85
81,957,682 81,969,127 field, Mass., 56 miles: branen, 3 miles. The road is leased to the Fitch
burg
RR. for 999 years at 6 per cent. (V. 43, p. 636.)
United States subsidy bonds... 33,539,512
33,539,512
33,539,512
Aocrued int. on subsidy bonds. 15,324,738 15,167,214 15,670,753
Vermont
Valley o f 187 1 .—Owns from Bellows Falls to BratFloating debt.........................
3,237,697
11,861,445
.....
Interest accrued not d u e ..........
788,671
774,104
758,493 tleboro, Vt., 24 miles, and by purchase of stock the Sullivan County
RR.
from
Bellows
Falls to Windsor, Vt., 26 miles; total, 50 miles. Con
Deaerai income (profit and loss) 17,837,350 tl0,493,284 13,827,456
ncome used for sinking fund..
2,383,029
2,976,634
3,568,599 trolled in the Interest of the Connecticut River RR. The Sullivan
Band and trust income.. 14,180,742
18,641,134 19,828,519 County RR. stock is deposited as collateral security for the above
more, bonds. Earnings, &o., for three years ending March 31, were:
Total liabilities......... 222,333,523
226,279,509 230,030,959
Net Divid d,
Gross
Passenger Freight (ton)
Earnings. Earnings. Per ot.
Mileage.
t After deducting deficit of U. S. requirements, as compared with Years. Miles. Mileage.
$113,784
6
$398,614
20,864,921
accrued interest on U. 8. bonds Feb. 1, lb 80, to date.
188384 4,555,171
50
110,747
6
20,199,299
373.598
t Not including 916,704 due to U. 8. under Thurman Act, paid April 188485 4,246,085
50
125,510
6
492 427
26,093,466
JUS,1885
188586 4,559,950
50
Total earnings........................... 25,657,290
Operating expenses and taxes.......... 14,868,115
S e p t e m b e r , 1887.]
Ill
RAILROAD STOCKS AND BONDS.
Subscribers w ill confer a great favor by givinglimmediate notice o f any error discovered in tbese Tables.
DESCRIPTION.
For explanation of column headings, &o., see notes
on first page of tables.
Vicksburg dkMeridian—1st mortgage.......................
2d mortgage...............................................................
3d mortgage income (not cumulative)...................
Vicksb. Shrevep. <6 Pac.—Prior lien mort., gold........
1st mortgage, g o ld ..................................... .............
3d mort., and 1st mort. on land, gold....................
2d series.......................................................
3d series.......................................................
do
4 th series.......................................................
do
5th series.......................................................
do
6th series.......................................................
Income mortgage bonds strictly cumulative.......
General mort., int. guar, by R. & D., $12,500,000
Virginia <t Truckee—tst M. (pay’ble $l60,000 a year)
Wabash St. Louis dt Pacific—Stock, common............
Preferred stock, 7 percent (not cumulative)........
1st mort., gold (Chic. D iv.).....................................
1st mort., gold, Detroit Division.............................
Wabash, 1st mort. (Toledo & Illinois).....................
do
1st mort. (Lake Erie Wab. & St. L.).......
do
1st mort. (Great Western of 1859)..........
do
1st mort. (Quincy & Toledo)....................
do
1st mort. (111. & So. Iowa) extended......
do
2d mortgage (Toledo & Wabash).............
do
2d mortgage (Wabash & Western)..........
do
2d mortgage (Great West, of 1 8 5 9 ).......
do
Consol. $1., (oh all but Dee. & E St.L.)..
Bonds—Prlnoi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal. When Due
Amount
of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
Road. Bonds Value.
Cent. payable
Whom.
Dividend.
140
140
140
189
189
189
354
do
do
347
52
262
112
75
267
180
33
29
75
167
180
490
6
1881 $1,000
$1,000,000
1,100,000 4 to 6
1881
1,000
7
1881 500 &c.
1,920,000
1,323,000
1885
1,000
6 g.
6 g.
1881
4,000,000
1,000
1886
2.500.000 3-4-5 g.
1,000
4,940,363
100
6
1881
600,000
1881
6
1.900.000
1881
6
1,100,000
1881
950,000
3-4-5
1881
5
1,775,000
4 &5
1881
1,309,000
1882
6
604,000
1,000
1886
3,717.000
5
1,000
1874
10
200,000
1,000
(I)
(1)
1880
4,500,000
1,000
5 g.
1881
2,052,000
1,000
6g.
1853
900,000
7
1,000
1853
7
2,500,000
1,000
1863
7
2,496,000
1,000
1865
500,000
7
1,000
1862 500 &c.
300,000
6
1853 250 &c.
1,000,000
7
1858 100 &c.
1,500,000
7
1865
2,500,000
1,000
7
1867
2,610,000
1,000
7
V ick s b u rg & m e r id ia n . —L ine op R o a d .—Vicksburg to Meridian*
Miss , and branch, 143 miles. In Oct., 1885, the gauge was changed to the
standard 4 feet 8 1« inohes, and the transfer across the Mississippi at
Vicksburg was completed. It is mainly owned and controlled by the
Ala. N. O. Tex. & Pac. June. Co. The company was unable to earn full
interest, and reorganization was made in 1881. Preferred stock, $1,940,612 : common stock, $3,962,100. A receiver was appointed in 1*85 on
a judgment obtained against it, and an outline of the proposed plan of
reorganization was given in the Ch ro n icle , V. 44, p. 714, and modifica
tions in V. 45, p. 113. Annual report for year ending Maroh 31,1887,
in Chronicle of May 28,1887, p. 680.
RECEIPTS AND EXPENDITURES FOR YEARS ENDING MARCH 31.
1883-4.
1884-5.
1885-6. 1886-7.
Miles road operated............... .. 140
140
140
143
Warnings—
Passenger..........................— .$190,215 $169,162 $164,818 $155,903
296,973
307,609
Freight..................................... 300,026
345,268
9,307
Mail...........................................
11,927
13,089
13,105
E xpress..................................
5,342
6,445
10,303
7,467
Miscellaneous........................
8,991
11,095
10,320
7,191
T otal............. ................... .$513,884 $495,603 $503,304 $531,772
Operating expenses................ 394,061
443,939
426,498
484,362
Net earnings........................... $119,823
Chargeable against revenue
For taxes................................... $16,800
For interest on bonds............ 103,083
3,292
For int. on current accounts.
For expenses of land dep’ t.-..
7,049
$51,663
$76,806
$47,409
$17,550
104,000
7,633
4,477
$16,741
114,083
15,894
4,416
$18,285
Ì25,083
14,232
4,298
Tot. paym’ts oharg’ble to rev.$130,225 $133,660 $151,135 $161,899
Net deficit................................. $10,402
$81,997
$74,329 $114,489
—(V. 43, p. 636; V. 44, p. 586, 6 8 0 , 714 ; V. 45, p. 54,113.)
V ic k s b u r g S h r e v e p o r t & P a c if ic .—See Map Cincinnati New
Orleans dt Texas Pacific. From Delta, La., on Mississippi River, to
Shreveport, 169 miles, and extension to Texas 8tate Line. 20 miles
(the latter leased to Tex. & Pac.); total, 189 miles. The company was
chartered as Vicksburg Shreveport & Texas, and opened from Delta
to Monroe, La., in 1861; the rest of the line to Shreveport was not
opened till 1884. The old road was sold in foreclosure Dec. 1,1879,
and reorganized under present title. The stock is $3,000,000, of which
the Ala N. O. & Texas Pacific Junction RR. Co. holds $1,594,000, and
controls this company, also holding $3,69 ¿,0c0 of the 1st mortg. bonds
and $1,931,000 incomes. In 1885 it was voted to issue the above prior
lien bonds lor improving the road bed, completing the transfer across
the Miss. River, &c. In 1886 the old income bonds of $2,500,000 and
the stock were to be exchanged for 3d mortgage and land bonds. (See
V. 43, p. 104.) Gross receipts for 1885, $448,800, (V. 43, p. 104.)
VlrglnlA m idland.—(See Map o f Richmond <& Danville.)—L ine
OP Road. — From Alexandria to Gordonsville, 88 miles; Warrenton
Branch, 9 miles; Charlottesville to Lynchburg, 60 miles; Lynchburg
to Danville, 66 miles; Pittsville Branch, 9 miles; Manassas Junction
to Harrisonburg, 114 miles (of which 49 miles leased to Balt. & Ohio);
Front Royal Branch, 1 mile; total owned, 347 miles. Leased. Orange
C. H. to Charlottesville, 28 miles; Pittsville to Rocky Mt., 30 miles;
total leased, 58 miles. Total owned and leased, 405 miles, of which 51
miles, Strasburg Junction to Harrisonburg, is leased to the Balt. & Ohio,
leaving 354 miles operated.
The Washington City Virginia Midland & Great Southern was a con
solidation (November, 1872) of the Orange Alexandria & Manassas and
Lynchburg & Danville railroads. The Orange Alexandria & Manassas
was a consolidation (June 1,1867) of the Orange & Alexandria and the
Manassas Gap. The Washington City Virginia Midland & Great South
ern was put into the hands o f a receiver July 1, 1876, interest being in
default, and was sold in foreclosure May 13,1880, and after litigation
sold again Deo. 20,1880. Reorganized as Virginia Midland, ana bonds
and stook issued as above.
In April, 1886, a lease of this road was made to the Richmond & Dan
ville on the basis of a payment of the fixed charges and the payment
by the lessee of any balance of net earnings to the Va. Midland Co. The
lessee may if it chooses advance the money for interest on the six
series of prior bonds if earnings are insufficient, but guarantees posi
tively the general mortgage interest.
Of the above bonds, the first series Is a first lien between Alexandria
and Gordonsville, including lease of Charlottesville & Rapidan Railroad
and the Warrenton Branch; the second series is a second lien between
Alexandria and Gordonsville, including Warrenton Branch and lease of
Charlottesville and Rapidan RR., and a first lien between Charlottesville
and Lynchburg; the third series is a third lien between Alexandria and
Gordonsville, including Warrenton Branch and lease of Charlottesville
& Rapidan RR., and a second lien between Charlottesville and Lynch
burg; the fourth series is a fourth lien between Alexandria and Gordons
ville, including Warrenton Branch and lease of Charlottesville <teRapidan
RR., and a third lien between Charlottesville and Lynchburg; the fifth
series is a first lien between Manassas Junction and Harrisonburg, in
cluding Front R oj al Branch and lease of road from Strasburg to Hands
A. & 0. N. Y.,Muller,Schall &Co.
M. & N.
de
do
....
do
do
M. & N. N.Y., Farmers’L.&T.Co.
J. & J.
do
do
1st coupon due Jan., 1888.
April 1, 1921
May 1, 1921
June 1, 1921
Nov. 1,1915
Aug. 12,1920
Jan. 1, 1916
M. & S. Balto., Mech. Nat.Bank,
M. & 8.
do
M. & 8.
do
M. & S.
do
M. & 8.
do
M. & S.
do
J. & J. Last paid July, 1884
M. & N. N.Y., Central Trust Co.
Q.—F. San Fran., Bank of Cal.
Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Jan.
May
Aug.
J. & J.
J. & J.
F. & A.
F. & A.
F. & A.
M. <fc N.
F. & A.
M. & N.
M. & N.
M. & N.
Q.—F.
July 1, 1910
July 1, 1921
Aug. 1, 1890
Aug. 1, 1890
Aug., 1888
Nov. 1,1890
Aug. 1, 1912
May 1, 1893
May 1, 1893
May 1, 1893
Feb., 1907
Last
Last
Last
Last
Last
Last
Last
Last
Last
Last
Last
paid
paid
paid
paid
paid
paid
paid
paid
paid
paid
paid
fan.
Jan.
Feb.
Feb.
Feb.
May
Feb.
Nov.
Nov.
Nov.
Nov.
1,1885
1,1884
1,1885
1,1885
1,1885
1,1885
1,1985
1,1884
1,1884
1,1884
1,1884
1,
1,
1,
1,
1,
1,
1,
1,
1,
1906
1911
1916
1921
1926
1931
1927
1936
1889
sonburg to the B. & O. RR., and a fifth lien between Alexandria and
Gordonsville, including Warrenton Branch and lease of Charlottesville
& Rapidan RR., and a fourth lien between Charlottesville and Lynch
burg; the sixth series is a first lien between Lynchburg and Danville,
Including Pittsville Branch and lease of Franklin & Pittsylvania RR.,
and a sixth lien on lease of Charlottesville & Rapidan Railroad.
The income mortgage bonds were issued to retire 1st and 2d preferred
stock; the interest is striotly cumulative, and secured by the mortgage,
and in July, 1885, the coupon due July, 1884, was paid. These bonds
are exchangeable into the general mortgage bonds bearing 5 p. o. inter
est, and guaranteed by the R chmond & Danville RR. Co.
Of the general mortgage bonds of 1886, $7,635,000 are held to retire
the serial bonds, $4,000,000 for the incomes, and $865,000 to be issued
for floating debt, improvement, etc.
Earnings for the years ending September 30 w ere:
Miles.
Gross receipts. Operat’g exp’ses. Net receipts.
$1,491,921
1881-82
$945,116
$546,804
1,664,204
188283 354
956,194
708,009
1,625.830
188384 354
999,217
626,612
1,554,375
188485 354
990.432
563,943
1,551,703
188586 354
1,032,431
519,272
In 1882-83 $119,908 in addition to above expenses were spent for con •
struction. &o.; in 1883-4, $>98,841 ; and in 1884-5, $88,835. New York
Office, 2 Wall St. (Y. 43, p. 488 ; V. 44, p. 204, 681 ; V. 45, p. 85.)
V irg in ia & T r u c k e e .—Reno, Nev., to Virginia, Nev., 52 miles
The bonds are payable $100,<»00 per year. Gross earnings in 1886
were $702,894; net, $353,544; dividends, $270,000; interest and
bond payments, $303,170. In 1885, gross, $599,149; net, $282,668;
interest paid, $47,500; dividends, $180,000; bonds redeemed, $100,000 ; deficit, $44,832. D. O. Mills, President.
W a b a s h St. L o u is & P a c ific .—The roads East of the Mississippi
River (operated by Receiver John McNulta, except the Detroit Division)
embrace the following pieces covered by the several mortgages: Toledo
& Illinois first mortgages—Toledo to Indiana State line, 75miles; Toledo &
Wabash, second mortgages - Toledo to Indiana 8tate line, 75 miles; Lake
Erie Wabash & St Louis, first mortgages—Ohio 8tate line to Illinois State
line, 166 m iles; Wabash & Western, second mortgage, Ohio State line
to Illinois State line, 166 miles; Great Western of 1859, first and second
mortgage-Indiana State line to Met ed<»sia and Naples III., 180 miles;
Illiuois <fe Southern Iowa, 1st mortgage—Clayton to Carthage, III., 29
miles; Quincy & Toledo, 1st mortgage—Clayton to Mereaosia, HI, 3 ?
miles; Decatur & East St. Louis, first mortgage—Decatur to E. St.Louis,
103 miles; Hannibal & Naples, 1st. m< rtgage—Hannibal, Mo., to Naples^
111., 50 m iles; Wab. St. L. & Pacific (Chicago Division), 1st mortgage—
Srieator, 111., to Effingham and Altamont and Strawu to Chicago, 268
miles; Wab. St. L. & Pacific (Detroit Division), 1st mortgage—Detroit to
Butler, Ind., 114 miles. The total mileage operated is 956.
Or g an ization , L eases , &c.—The Wabash St. Louis & Paciflo was
formed Nov. 7,1879, by a consolidation of the Wabash and the St. Louis
Kansas City & Northern roads and their branches. The Wabash Com
pany had been organized Jan. 1,1877, as successor of the Tol do Wab.
<£ West., which company was formed June 25,1856, by a consolidation
of several companies, and defaulted on its interest In 1875 and was fore
closed June 10, 1876. The St. Louis Kansas City & Northern was
formed in 1871 as successor of the North Missouri Railroad, which was
sold in foreclosure August 26, 1871.
In April, 1883, the Wabash St. Louis & Paciflo was leased for 99 years
to the St. Louis & Iron Mountain (and thus to the Missouri Paciflo), on
the general basis of paying over to the Wabash its net earnings each
year.
In May, 1884, Messrs. Solon Humphreys and Thos. E. Tutt were
appointed receivers on the company’s own application in view of the
prospective default June 1 on the general mortgage bonds. Receivers'
certificates were issued for about $1,400,000 ana notes for $2,183,000,
to take up notes endorsed by Messrs. Gould, Humphreys and others, but
these were finally taken up by leaving to the said endorsers the $2,700,000 of collateral trust bonds held by them as security
The plan of reorganization was published in the Chro nicle , V. 40,
p. 571, and, as afterward modified, in V. 41, p. 300, providing for the
issue of $30,000,000 new debenture bonds, to be disposed of as there
stated; also the following points were embraced in the plan:
The whole property to be foreclosed under the general and collateral
trust mortgages, and upon receipt of the new debenture bonds, the hold
ers of general mortgage and collateral trust bond certificates to pay
two per cent in casn on the face of the new bonds, for which they would
receive debenture bonds or scrip.
After the formation of the new company, the Purchasing Committee
will offer the new stook to the stockholders of the Wabash St. Louis &
Pacific Railway Company, at the rate of eight dollars per share on pre
ferred, and six dollars per share on common stock, who, for the amount
so oaid, will be entitled to debenture bonds, or scrip, dollar lor dollar, Ì
m addition to the shares in the new company.
The bondholders agree to take any stock and debenture bonds not
accepted by stockholders, upon the same terms, pro rata, the amount,
however, not to exceed five per cent on the face o f their bonds.
The decree of foreclosure was made in January, 1886, and the road
sold April 26, 1886, to the purchasing committee, who were the only
bidders, the price for all the properties sold being $625,000. (See
INVESTORS’
112
SUPPLEMENT.
[V o l . XLV.
S u b scrib ers w i l l c o n fe r a g rea t fa v o r b y g iv in g im m e d ia te n o tic e o f a n y e r ro r d is co v e r e d in th ese T a b le s .
Ron«!*—Princi
INTEREST OR DIVIDENDS.
pal, When Due
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
P or explanation of column headings, Ac., see notes of
Outstanding
Whom.
Dividend.
Cent. Payable
Road. Bonds Value.
on first paste of tables.
DESCRIPTION.
Wabash, St. Louis <&Pacific—( Continued) —
Wabash, 1st mort., (Decatur A E. St. Louis).........
do
Fund, debt bds. & so, certs, (seeremarks.)
do
Mort., gold, sink. fd. $25,000 after '82..
Hannibal & Naples, 1st mortgage.........................
Wabash Western Stock....... .......................... .............
St. L. K. C. & No., 1st mort. (North Missouri)........
do
real estate & railway 2d mort—
do 1 st & 2d M.on St. Char.Bridge.coup.or rg
St. Louis Council Bluffs A Omaha—Stock.............
St. Louis Ottumwa & C. R.—1st mort. ...J..........*•
DeS Moines & Northwestern—1st m ort..................
Ware River—Stock (guaranteed).................................
Warren (N.J.)—Stock.............................-.....................
2d mortgage, now 1st— ........................................
1st consol, mortgage..................... .
....
Washington City <fi Ft. Lookout—1st M. bonds gold.
West Jersey—Stock— .................................................
1st mortgage loan.....................................................
1st
do
consolidated.......................................
Consolidated mortgage.........................................
Ocean City RR. bonds............. .................................
109
50
354
354
'4 2
42
115
49
18
18
18
12
186
38
63
128
1869
1877
1879
1879
1865
1874
1878
1875
1855
1870
1875
1873
1866
1869
1879
$2,700, 000
7
3.009, 850
6 A7
7 g.
2 , 000 , 000
500, 000
7
tl
6 , 000 , 000
1,000
7“
7
3,000, 000
1,000
1,388, 500 6 A 7 g.
1,000
626, 000
6
7
322, 500
i,òb‘ó
135, 000
7
750, 000
ib’6
3I3
1,800, 000
50
3 I3
750, 000
7
100
600, 000
7
6
540 000
3
50
1,485! ,650
1,000 ,000
6
500&C.
1,000 ,000
7
500 Ac
6
500 &c
748 ,500
6
100 ,000
$ 1,000
500 &e
1,000
1,000
F.
F.
4.
J.
A
A
A
A
A.
A.
O.
D.
Last paid Feh. 1,
Last paid Feb. 1,
Last paid Oct. 1,
Last paid Dec. 1,
1885 Aug., 1889
1885 Feb. 1, 1907
1884 April 1, 1909
1884 June 1, 1909'
J. A"J. N. Y., Bk. of Commerce. July 1, 1895
M. A S.
do
do
Sept. 1, 1895
A. A O.
do
do
1903-1908
A. A
J. A
J. A
A. A
A. A
M. A
J. A
M. A
J. A
A. A
M. A
F. A
O. N. Y., Bk of Commerce.
J.
J. Boston, Bost. A Alb. RR
O. N.Y., Del., L. A W. RR.
do
do
O.
do
do
S.
D. Baltimore,Balt. A O.RR.
8. Phila.. Pa.RR.Co. Oflice
do
do
J.
do
do
O.
do
do
N.
do
do
A.
Oct., 1895
July l. 1899=
July, 1887
April, 1887
April 1, 1900
March 1. 1905
1903
Sept. 15,1887
Jau., 1896
Oct., 1899
Nov., 1909
Aug., 1925
1
V 42 p. 537.) But there was some delay in the confirmation of
sàie the floating liabilities including receivers’ debt, Ac., being
About $4,000,000, and there yet remained a large amount of over
due interest on the prior mortgage liens. The Committee of Reorganiza
tion in June, 1886, proposi d tó the holders of all mortgages ou the road
cast of the Miss. River that their future interesf should be reduced to 5
percent and overdue interest funded to ls s 6 , (see proposal in V 42,
» 695) Some bondholders made opposition to this, and after litigation
the receivers Tuit and Humphreys were removed by an order of Judge
?1
Gresham, and Judge Thos. M. Cooley was appointed receiver of most of
the lines east of the Miss. River covered by the section tl mortgages. The
order made bv Judgt s Brewer and Treat for the surrender of these lines
was in V< 1. 44, p. 10. The purchasing committee afterward took pos
session of the lines yet remaining in the Wabash system west of the
Missies» pi River and organized the Wabash & Western. Suits to fore
close t h e l 1. A So. Iowa mort. and the Great Western of 1859, aiso the
consol, n.orr. of 1867, were begun in Jan., 1887.
The situation of Wabash in March, 1887, was substantially this : The
Purchasing Committee had bought the whole property at foreclosure
under the g. nterai and collateral trust mor gases, wiileh were thereby
extinguished, as also thè stock. The Committee tbenheld the property m
trust for the iorintr holders of gen ral and collatera trust bonds and
for the stockholders who had come into the plan and paid their asse-s-ments In the meantime suits had been stai ted to lor- close the prior
mortgagee on some of the lines east of the MlssDs ppi River, and most
c f those lin< s were placed in the hands of a new receiver, Judge Cooley.
The Purchasing Committee organized the new Wabash Western to
I n c lu d e the lines yet in possession of the receivers west of ttaeMississioid R iv.r, and auo expected to take or to operate by consent the De
troit Division, Butier, Ind., to Detroit, and tue Eel River leased line.
Of the Detroit Division some of ihe bondholders in April, 1887, con
sented to fund back coupons and take new bonds at 5 per cent tor their
rid bonds.
of the net profits. The road was operated in close connection with the
Gould Southwestern system running into St. Louis, and the formal lease
to the St. Louis A Iron Mountain Company placed the Wabash in com
plete control of the Missouri Pacific prior to the appointment of receivers
for the Wabash.
From Jan. I to July 31, 1887 (7 mos.), gross earnings of lines east, of
the Mississippi were $4,689,304, against $3,595,899 in 18s6; net, $1,202,389, against $747,256.
Earnings,
<teo., for four years ■were, a* below, tno mileage
being in 1883, 3,560; in 1884,3,582; m 1885, 2,779, and in 1886, 2,196.
INCOME ACCOUNT.
Receipts—
Net earnings............
Other receipts..........
AU XILIA RY AND LEASED LINES.
Many of the branch and leased lines formerly operated by the Wabash
fit. Louis A Pacific have been foreclosed, and the following will give an
account of them :
„ .
„
„ . .
The Ci iro Division is now the Cairo Vincennes & Chicago; Toledo
Peoria A Western was 6old Oct. 29,1886, and will be found under its
ow n name the Mo la. & Nebraska was sold Aug 1 9 ,18-'6. and is now
the Keokuk & Western; the St L. K. C. & Non hern, Omaha
Division, was sold Dec. 28,1886, and is in process of reorg «nization ;
the Glarinda Branch sale w as adjourned to March. 1887. The O. Divi
sion committee iseued a circular in March, 1887 (V. 44, p. 370). The
new bonded debt wsll be $2,30 ,000 l»ts, aud 4 . oupons will be fu- ded
jmd i coupon held lor betteiments, a to ai of $2,702,5"0 4 per cent 50year gola bonds. Preferred stock will be issued to the amount of $2,208 <00 The reduced interest from 7 to 4 per cent will be represented
by this pref. rred and by common stock to the amount of $2,300,0u0.
Holders of trust certificates lor ihe old bouds deposited will get for each
S I 000 $1,140 in 4 per cent bouds, $960 preferred stock, a d $1,00
common stock to be held in trust. The aunual charge will be $108,500,
»gainst $104,500 before. Net earnings f .r year ending March 6 , 18a7,
estimaied at $123,000. The Quinc.v Mo. <& Pacific was sold in May,
1880, and is to be reorganized with stock only under a title yet to
he chosen. The Champaign Hav. & West, and the Rantoul (narrow
image) road were sold in Sept, and Oct., 1886. and were afterward
absorbed by the Illinois Central. The Chic. Cin. & Louisville was sold
H ov .13, 18s6, and is opeiated by the trustee of tl e mortgages.
The Centi eville Moravia & Alma, Relay to Albia, 24 miies, was sur
rendered by the Waba-h, and has been operated by Thomas Thatcher,
receiver of the. Missouri Iowa A Neb.; a decree was obtained, and the road
might have been foreclosed, but in Sept., 1887, it was leased to the
Keokuk & Western.
, , ,
,
, ^
S tocks and B onds .—T he old pref. stock had a prior right to 7 per
cent (non-cumulative); then com m on to 7.
Prices of stock since 1879 have been ; Common in 1880, 26%®48 ;
to 1881, 33 j4®60; in 1882, 23Bs®3978; in 1883, l ò s s e i i ; in 1884,
4® 19%; in 1885, 2®15ia; in 1886 (pur. com. receipts), 12®24Ss; in
1887. to Sept. 16, inclusive, lh 18'à>2238. Preferred in 1880, ò l^ a S S ^ ;
to 1881, 64J4®96:Q; in 1882, 45,8'A71ss; in 1883, 291e®571a; in 1884.
» ® 3 2 ; in 1885, 6ie@25; in 1886 (pur. com. receipts) 23%a>4178; in
1887, to Sept. 16, inclusive, 23%@3814.
First mongage on St. Charles Bridge is for $1,000,000, and is 6 per
cent now, running absolutely till 1908.
The «.mount of funded debt bonds of 1877, due 1907 as above given
Includes the scrip certificates for coupons funded and deposited in trust,
which certificates amounted January 1,1883, to $1,014,453, and are
exchangeable into the bonds. If not exchanged the certificates fall due
with the principal of the bonds from which coupons were cut.
The collateral trust bonds of 1883 were issued for floating debt
These bonds were guaranteed by the St. Louis Iron Mountain &
Southern RK. Co., and in 1884 a mortgage was recorded on all the
Wabash property for $10,000,000 to the St. Louis Iron Mt. A Southern as
necuritv tor this guarantee. These and the general mortgage boficts
were 1o take new debentures under the plan of reorganization.
O per ation s , F inances , Ac.—The Wabash St. Louis A Pacific extended
Its lines very widely in the years 1879 to 1882 (under the presidency of
Mr. Solon Humphreys), by the acquisition ot branch and connecting
roads, and thereby assumed heavy liabilities. Although the earnings
Increased largely, the annual liabilities were still far in excess
Total income__
Rentals paid............ .
Interest on debt___ .
1883.
$
3,584,195
452,566
1884.
$
2,610,329
240,339
1885.
$
1,899 938
68,553
1886.
$
2,974,636
63,501
2,850,668
$
1,144,453
4,399,716
1,968,491
4,940,191
$
698,100
902,779
3,038.137
$
433,615
786,010
828,244
2,727,348
1,219,705
3,555,592
1,500,879
5,544,169
Total..................
Balance, after intert i __
est and rentals....df. 1,507,408 df. 704,924 sur. 467,612su.l,818,432
- ( V 43 p 24 4 9 ,50 ,7 3 . 104, 164, 192,217 ,2 1 8 ,2 3 8 ,3 0 9 . 369, 400,
460. 4-8. o l5 , 516, 548, 580, 608, 636, 672, 719. 738, 766 ; V. 44, p. 10,
60; 119; 173, 185, 212. 235, 369, 344, 4ul, 435, 621, 654, 682, 714, 717,
782, 804; V. 45. p. 166.)
W a b a sh W e s te r n .- The road owned includes those parts of
the former Wabasn St. Louis A Pacific west of the Mississippi River that
remained in the system when the purchasing committee took possession
in March, 1887: also certain turns east of the Mississippi that Judge
Cooley did n .t take. The total mileage operated iu May, 1887, was re
ported by the Wabash Western as 995 miles, made up as follows: St.
Louis to Kansas City, 276 miles ;■ Levee to Ferguson, l o ecl; Ceutralia
lo Columbia 22 m.; Glasgow to Salisbury. 15 m ; Moberly to Coatesville,
88 m.; Coatesville to Ottumwa, 43 m.; Brunswick to Cliilliootlie, 3 * m.;
Pattonsi-urg to Chillicothe, 42 m.; total, 534 miles. Ihe traok of the
Chicago A Rock Island road from Ottumwa to Gibbon, 37 miles, is also
used. Tue following roads are operated iu addition: Des Moines A pt.
Louis (Des Moines to Albia), 67 miles; Des Moines A Noitnwestern (Des
Moines to Foula), 115 m.; Detroit Division, 113 m ; Eel River, 93 m.;
Champa gn A Sidney, 11 m.; A ti-a A Covington, 14 m.; total, 415 m.
Whole mileage operated about 990 mil s.
The bonds of St. L. Ottumwa A C. R. RR. and the Des M. A N. W. a^e
not guaranteed, tbe roads bring merely leased aud operated by w. W.
From Jau. 1 to June 30 In 1887 (6 mos.) gross earnings were $2,927,698; net, $894,596. (V. 44, p. 344, 370,466, 713.)
W a r e R i v e r . —Palmer, Mass., to Winchendon, Mass., 49 miles. It
is leased for 999 years to the Boston A Albany Railroad at a rental oi 7
per cent per annum. J. A. Rumrill. President, Springfield, Mass.
W a rr e n . N. J .—Line of road, New Hampton Junction to Delaware
Bridge, N. J., 18*4 miles. The road is leased to Delaware Lackawanna
A Western at 7 per cent on stook and bonds. John I. Blair, President,
Blairstown, N. J.
W a sh in g to n City & P o in t L o o k o u t .—Hyattsvllle, Md., to
Shepherd, McL, 13 miles, and to be extended. This road was opened in
1873 It is leased to the Baltimore A Ohio for $36,000 gold per
annum. The stock paid in is $1,000,000. S. T. Suit, Pres’t.
W e s t Jersey.—Main line and branches—Camden to Cape May,
B r id g e t o n , Riddleton, Sea Isle, Ocean City, Ac., 169 miles; West Jersey
A A t l a n t i c R a il r o a d ., 39 nailer.; total, 198 m iiv s o p e r a t e d . ^ _
.
It was voted in June, 1887, to issue in August, 20 per cent new stook
to stockholders, at par, to provide acquisitions and improvements.
From Jan. 1 to July 81, i8e7, (7 mos hgross earnings were $800,485,
against $725,497 in 18^-6; net, $294,5 i5, against $249,170.
The annual report for 1886 was published in the C h r o n i c l e , V. 44,
^ Income account for four years (including 1886) was as follow s:
INCOME ACCOUNT.
1883.
1884.
1885.
1886.
¿ d S i g t arilit! ! 8.'; ; : -1' m i l e
Other receip ts...................................
5u3,305
11,966
476,627
14,008
503,274
21,350
Totalincome........ ........ 441,896
Disbursements—
Rentals paid.......................
36,571
interest on West Jer. debt..
178,888
Net earu.of W.J.AA.RR.,Ao
73,075
Dividends.............................
85,232
Rate of dividend..................
6 p. c.
515,271
490,625
524,624
41,270
175,174
90,6o8
87,788
o p. e.
39,098
175,174
81,990
89,113
6 p. C.
41/745
180,174
90,081
89,140
6 p . c.
Total disbursements___
Balance, surplus.......... .
- ( V . 44, p. 4 9 4 ,7 8 2 .)
394,900
120,371
385,375
105,250
401,140123,484
373,766
68,130
$
September, 1887.]
MISCELLANEOUS
STOCKS
AND
BONDS.
113
Su bscriber« w i l l co n fe r a great fa v o r b y g iv in g im m ed ia te n o tic e o f a n y error d iscov ered in these T ab les.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Dueu
Amount Rate per
of
of
Par Outstanding
When Where Payable, and by Stocks—Last
For explanation of column headings, &c., see notes
Road. Bonds Value.
Cent. Payable
on first page of tables.
Whom.
Dividend.
34
West Jersey <6 Atlantic—1st mortgage.......................
Pleasantville & Ocean City......................................
448
West Shore—1st M., guar, by N.Y.C.& Hud., cp., rg.
60
West Virginia Central <&Pittsburg—1st mort., gold.
44
Western (Ala.)—Western RR. bonds, before consol..
2d mort.. guar, by Cent, of Ga. and Ga. RR. &B. Co. 160
Western Atlantic (Oa)—Income bonds.................... 138
90
Western Maryland—3d M., endorsed by Baltimore.
90
4th
do
endorsed by Baltimore....................
Funded coupons......................................................... . . . .
Baltimore & Harrisburg RR., M.(for $690,000)..
130
Western North, Carolina—1st mortgage, coup.........
Consol mortgage, coup, for $3.425,000.................. 189
....
2d consol, mort., coup. ($15,000 p. m.)..................
57
Western Pennsylvania—1st mortgage........................
28
1st mortgage, Pittsburg Branch.............................
Registered bonds........................................................ . . . .
65
White Water—Stock ($325,000 of it pref.)...............
Wheeling & Lake Erie.—1st M., gold ($3,000,000).. 186
227
Wilmington Columbia <£ Augusta—S tock ................
1st mortgage..............................................................
87
Wilmington <&Northern—Stock..................................
222
Wilmington <& Weldon—Stock.....................................
Sinking fund bonds, g old ..........................................
Gen. mortgage for $4.000,000.................................
Wisconsin Cent. Co.—1st mort. (for $12,000,000)...
Income bonds, non-cum (for $9,000,000).............
Wisconsin Central—Consol, mort., land grant, pref. 326
1st series..................................................................... 326
326
2d series, income (not cumulative)........................
Mort. Minn. St. Croix & Wis. R R ............................. 104
50
Penokee RR.—1st mort.............................................[
$400,000
1880 $1,000
....
80,OoO
100 &c.
1885 l.OOO&c 50,000,000
1,100,000
1881
1,000
340,000
1868
1,171,000
1870
1,000
311,000
1873
1,000
1870 500 &c.
875,000
1,000,000
1872
....
875,000
275,000
....
850,000
1881
2,575,000
1,000
1884
4,110,000
1,000
1863 500 &c.
800,000
1865 100 &c.
1,000,000
1883
2,500.000
1,000
1,300.000
1886
2,788,000
1,000
960,000
1,600.000
1880
1,278.050
__
2,500,000
100
....
936,000
1885
1,336,000
(1)
(?)
1879
360,000
1879
3,800,000
1879
5,700,000
1884
2,600,000
1,000
1837
1,500,000
—
W est J ersey & A tla n tic. —Newfleld, N. J., to Atlantio City, N. J.
34 miles; Pleasantville & Ocean City RR., 7 miles; total, 41 miles
Opened June 17, 1880, and operated by West Jersey Railroad on a
oint traffic agreement and 25 per cent of gross receipts on West
Tersey from traffic of this road to be applied to any deficit in interest
and then as sinking fund for bonds purchasable at 105, or drawn if
over that. In 1884 net earnings were $83,286. Stock is $744,500.
Two per cent dividend paid in July, 1884, three Jan. 1. 1885, two
September, 1885, two March 15.1886, three December, 1886, 21q March,
1887, and
September 15,1887.
W est S h ore.—Line of road from Weehawken, N. J., opposite N. Y.
City, to Buffalo, N.Y., with branches to Albany City and Rochester City,
about 448 miles in all. This company was organized in December, 1885.
as successor to the N. Y. West Shore & Buffalo, sold in foreclosure.
Immediately on its organization the new West Shore Company issued
$10,000,000 of capital stock, and made an authorized issue of $50,000,000 of 4 per cent bonds. A lease of the West Shore property to the New
York Central Company for 475 years was executed in compliance with
the plan of reorganization. The $10,000,000 of stock is owned by
the New York Central Company in consideration of that company’s
guarantee of the principal and interest of the $50,000,000 of new bonds.
The mortgage is made to the Union Trust Co., as trustee, and covers
the line of road, Weehawken to Buffalo with branches, 448 miles in all,
and also the terminals at Weehawken by ownership of all the stock and
bonds of the Terminal Company. The guarantee of the N. Y. Cent. &
Hudson is absolute as to interest and principal and is endorsed on each
bond. A review at much le»gth of the status of the new West Shore
bonds was in the Chronicle, Y. 42, p. 176.
W est V a . C en tral & P ittsb u rg —A coal and railroad company in
West Virginia in the upper Potomac region—the Elk Garden Coal Field.
November, 1884, in operation from Piedmont, W. Va., to Davis, W. Va.,
58 miles; Branch, Shaw. W. Va., to Mineville, 2 miles; total, 6 0 miles.
Owns 32,244 acres of coal and iron lands covered by the first mortgage,
and has mineral rights on 5,407 acres more. In 1886, net from coal,
$34,031; from railroad, $52,329; miscellaneous, $864; total, $87,244;
interest, $66,000; surplus, $21,244. In 1885, net profits on coai sales,
$48,872; net from railroad, $34,053; total revenue, $82,925; interest
paid, $66,000; surplus, $16,925. Stock, $5,500,000. H. G. Davis, Presi
d e n t; 8. B. Elkins, Vice-President; James G. Blaine, W. H. Bamum,
and others, directors.
W estern A la b a m a .—Line of Road—Selma to Opelika, Ala., 116
miles; branches, Opelika to West Point, 22 miles; total, 138 miles, of
which 50 miles is leased to Louisville & Nashville for $52,000 per
annum. Was a consolidation in 1870 of Montgomery & West Point and
Western of Alabama. Sold May 10,1875, in foreclosure and purchased
jointly by the Georgia Railroad and Central Railroad of Georgia. The
old stock and income bonds were wiped out in the foreclosure, and the
property is represented by the bonded debt and $846,000 due each of the
above companies. There are also $32,000 second mortgage 8s of Mont
gomery & West Point RR. due May 1, 1888. The gross earnings in
1885-86 were $465,235; net, $165,160; deficit under interest and 1^
per cent dividend, $3,280.
W estern & A tla n tic.—Atlanta, Ga., to Chattanooga, Tenn., 138
miles. Built by State of Georgia and opened in 1850, and by an act of
October 24,1870, was leased to a company for twenty years at a monthly
rental of $25,000. In July, 1887, the lessee company put in a large
claim for betterments. See V. 45, p. 85.
W estern M a ry la n d . —Line of Road—Baltimore to Williamsport,
McL, 90 miles; Emmitsburg Branch, 7 miles; Edgemont to Shippenpburg, Pa., 34 miles; total, 131 miles. The Baltimore & Harrisburg,
leased in;Nov., 1886, comprised 781a miles. The capital stock is $683,750. The company was largely assisted by the city of Baltimore, and
was unable to pay all its interest. In 1886 the company proposed
that Baltimore city should pay off the $1,800,000 bonds embraced in the
first and second mortgages and take a mortgage on the railroad prop
erty as security; this was accepted by vote of the city, and on Jan,
1,1887, all the said bonds were retired.
The Baltimore & Harrisburg RR. was formed by consolidation of
several small roads in 1886 and leased to the Western Maryland, which
also owns a large amount of the stock; of the issue of $690,000 bonds,
$415,000 are keld in trust to pay off prior mortgages. The Western
Maryland operations for four years have been as follows:
Passenger
Freight
Gross
Net
Miles.
Mileage. . Mileage. Earnings. Earnings.
1882-83............ 131
16,201,680 12,876,711
$654,163 $254,175
1883-84............ 131
16,512,178 13,114,956
665,995 258,245
1884-85............ 131
14,602,158 11,670,486
619,217 232,135
18 8 5-8 6 .......... 131
15,946,659 10,878,194
617,561 239,137
—(V. 43, p. 369, 432, 636, 6 7 0 , 738.)
W e s te rn N orth C a rolin a .—(See map o f Richmond d Dan
ville.)—Owns from Salisbury, N. C., to Paint Rock, Tennessee
State line, 190 miles; Asheville to Jarretts, 100 miles; total,
290 miles.
The road was financially embarrassed, and was
purchased April 17, 1875, by commissioners for the State of North
Carolina, and subsequently finished by the Richmond & West Point Ter
minal Railway & Warehouse Co. In May, 1886, it was leased to the R.
A D . Company. In 1885-86 gross earnings, $523,740; net, $85,384;
-deficit under charges, $53,340. In 1884-85. gross, $468,507; net, $324,-
J
6
6
4
6
8
8
10
6
6
6
5
7
6
6
6
6
5
M. & S.
J. & J.
J. & J.
J. & J.
A. & O.
4. & O.
Q -J .
J. & J.
J. & J.
J. & J.
M.
J.
A.
A.
J.
J.
Phila., Fidelity I. T. Co.
Phila., Penn. SR. Office.
New York.
New York, Office.
N. Y., H. B. Hollins&Co.
do
do
Atlanta, Co.’s Office.
Balt., N. Mechanic’s’ B’k
Sept. 1, 1910
July 1, 1910
Jan. 1, 2361
Iuly 1, 1911
Oct. 1. 1888
Oct. 1, 1890
Oct. ’87 to ’ 90
Jan., 1900
Jan., 1902
Jan., 1902
& N.
Raleigh, N. C.
& J. N. Y., Central Trust Co.
& O.
& O. Philadelphia, Penn. RR.
& J.
do
do
& D.
do
do
May 1, 1890
Jan. 1, 1911
Oct., 1914
April 1, 1803
Jan. 1, 1896
June 1, 1923
5 g. A. & 0 .
3
J. & J.
6
J. & D.
New York.
Baltimore.
N. Y. and Baltimore.
Oct. 1, 1926
July, 1887
June, 1910
4
J. & D.
Jan. 15,1887
7 g. J. & J. N. Y. .Boat. ,Lond.,Frank
1896
5
J. & J.
N. Y. & London.
1935
5
5
M. & N.
5
N. Y., 36 Wall st.
5 p. ct. yearly
5
J. & J.
do
1909
J. & J.
7
do
1909
M. & N. tT.Y., Farmers’ L.&T.Co.
6
1914
5
1M. & S.
1937
351; deficit under charges, $1,765. Stock, $4,000,000 common and
$4,000,000 pref. The second cons.mortgage for $4,110,000 is held b y
the R. & D. Ter. R. & W. Co., and also $1,325,000 of the 1st consols,
given above. $850000 of same bonds are reserved to retire the lets.
W estern P e n n s y lv a n ia .—The road runs from Bolivar to ah«
ghany City, Pa., 63 ^ miles; branch to Butler, Pa.. 21 miles; total. 84%
miles. Completed in 1865 and branch in 1870. a new lease to the
Pennsylvania Railroad for 30 years was made in 1883, and an issue of
$5,000,000 consolidated bonds was authorized. The Pennsylvania Rail
road. lessee, owns $993,050 stock out of the total amount of $1,022,450
and $288,000 of branch bonds. Gross earnings in 1885. $1,159,514 ;
net, $477,981. Gross in 1886, $1,347,565; net, $607,542. In Deo..
1886, paid 3 p. 0. div.
W h ite W a te r .—Valley Junction, O., to Cambridge City, Ind., 65
miles. This was formerly the White Water Valley, sold in foreclosure
May 2,1878, and reorganized under this title. Gross earnings in 188087, $95,567; deficit, $5,498. Elijah Smith, President.
W h e e lin g & L a k e E r ie .— Toledo, 0 .,to Bowerston, O., 174 miles',
and branch to Huron, O., 12 miles. The road was sold in foreclosure
April 23, 1886, and purchased by trustees of the reorganization com
mittee. (SeeV. 42, p.537.) New company organized in July, 1886,
with stock of $3,600,000, of which $3,513,400 issued to March 1,1887.
In July, 1887, there was talk of issuing new stook and extending the
road to Wheeling. Gross earnings in 1886, $588,099; net, $129,113,
Geo. J. Forrest, President, 2 Wall St., N. Y. (V. 43, p. 50; V. 44, p. 118,
149; V .4 5 ,p . 26,85.)
W ilm in g t o n C o lu m b ia & A u g u sta .—Owns from Wilmington,
N. C., to Columbia, S. C., 189 miles. Leased jointly, the CentralRR,
of South Carolina, Lane, S. C., to Sumter, S. C., 38 miles. Total oper
ated, 227 miles.
Road was sold in foreclosure, October, 1879, for $860,500, and com
pany reorganized under present style.
In June, 1885, the road and property of this company were leased for
99 years to the Wilmington & Weldon, the lessee to pay all interest and
fixed charges and 6 per cent dividend on the stock, payable semi-annu
ally in January and July. In 1884-85 net receipts were $242,534; the
surplus income over interest and dividends was $83,934; in 1885-86
net receipts were $176,478; surplus $22,872 over interest and dividends.
W ilm in g t o n & N o rth e rn .—Owns from Wilmington Del., to
Birdsboro, Pa., 64 miles; branches, 24 miles; total owned 87 miles;
trackage leased, 5 miles; total operated, 92 miles. This company
was organized Jan. 18,1877, as successor to the Wilmington & Reading
RR. Co., which defaulted on its interest and was sold in foreclosure Deo.
4, 1876. Has bonds amounting to $228,700 in several small issues.
Gross earnings in 1886, $384,237; net earnings, $54,272; other receipts
$1,680. Paid interest, $12,570; bonds redeemed, $2,400.
W ilm in g t o n & W e ld o n .—Road extends from Wilmington to
Weldon, N. C., 163miles; branch to Tarboro, 17 miles; Scotland Neck
Branch, 20 miles; also operates Midland N. C. RR., Goldsboro to Smithfield, 22 miles; total, 222 miles; also under construction branch from
Wilson to Fayetteville, 70 miles. Was leased November, 1872, to Wil
mington Columbia & Augusta Railroad for 99 years. The lessees made
default December, 1877, and the lease was surrendered April 13,1878.
In June, 1885, this company took a lease for 99 years of the Wilming
ton Columbia & Augusta. (See that company above.)
The fiscal year ends Sept. 30. The income account for four years was
as follows:
INCOME ACCOUNT.
R eceipts1882-3.
1883-4.
1884-5.
1885-6.
Net earnings.......$195,380
$294,631
$373,141
$374,106
Other receipts....
26,073
23,942
29,937
103,182
$318,573
$403,078
$477,282
Total............... $216,053
Disbursements—
Interest................ $80,641
$80,698
$79,365
$138,353
Dividends...(6% ) 124,914 (8%) 166,592 (8%) 166,592 (8%) 200,006
Total.............. $205,585
Balanoe, surplus. $10,468
-(V . 43, p. 636.)
$247,290
$71,283
$245,957
$157,121
$338,353
$138,929
W is c o n s in C entral C om p a n y. —(See Map.)—This company was
organized in 1887 to control the operations of the Wisconsin Central
and its allied lines under one management. The roads thus controlled
would be nearly 600 miles, as follows: Wisconsin Central, 250 miles;
Penokee, 50 miles; Wisconsin & Minnesota, 176 miles; Pack. & Montello, 7 miles; Minnesota 8t. Croix & Wisconsin, 110 miles; total, 593
miles. This company proposed to purchase, so far as possible, the secu
rities of the Wisconsin Central, Wisconsin & Minnesota, Penokee, and
Minnesota St. Croix & Wisconsin railroad companies. Against the
600 miles of road, it issues its securities as follow s: First mortgage
bonds, $12,000,000 at 5 per cent; income bonds, $9,000,000 at 5 per
cent, non-cumulative; preferred stock, $3,000,000 at 6 per cent, cumu
lative; common stock, $10,000,000. It offered to the Wisconsin Cen
tral Railroad owners to exchange their bonds and stock on the terms
stated in V. 45, p. 24.
W is c o n s in C en tral R a ilr o a d . —Owned on Deo. 31, 1886, the
main line and branches Stevens Point to Menasha, 65 miles; do. to
114
INVESTORS’
SUPPLEMENT.
[Vol. x l v .
CANAL STOCKS AND
S e p te m b e r , 1887.]
BONDS.
115
S u b scrib ers w ill c o n fe r a g rea t fa v o r b y g iv in g im m e d ia te n o tic e o f an y e r ro r d is co v e r e d In tb ese T a b les.
Bonds—Princi
INTEREST OR DIVIDENDS.
________________ DESCRIPTION.________________ Miles Date
Size or
When Due.
Amount Rate per When Where Payable, and by pal,
of
of
Par
For explanation of column headings, &c., see notes
Stocks—Last
Outstanding
Road. Bonds Value.
Whom.
Cent. Payable
Dividend.
on first page of tables.
Wisconsin A Minnesota—1st mortgage.....................
Income...................... . .............................................
Chic. Wis. & Minn.—1st mort., g old .......................
Worcester A Nashua A Rochester—S toch ..................
Bonds, mort................................................................
Bonds, mortgage.......................................................
Bonds, mortgage.......................................................
Nashua & Roch., 1st mortgage................................
W. N. & K.—Mortgage.......................................
Zanesville A Ohio—1st mort., gold ($25,000 p. mile)
CAN ALS.
Albemarle A Chesapeake—Mortgage bonds...............
Chesapeake A Delaware—Stock..................................
1st mortgage (extended in 1886)...........................
Chesapeake. A Ohio—Stock..........................................
Maryland loan, sinking fund..................... # ...........
Guaranteed sterling loan............................. ......... -Bonds having next preference................................
Repair bonds, Act 1878............................................
Delaware Division—1st M. (ext’d 20 yrs. in 1 878)..
Delaware A Hudson—Stock........................................
1st mortgage, registered..........................................
Debenture loan of 1894, coup and reg................
1st M., coup. & reg., on Penn. Div. ($10,000,000)
Jiehigh Coal A Navigation—Stock.......................... .
Loan, conv., coup., gold (assumed L. & W. Coal Co)
1st mortgage, reg. (extended at 4 Ja)......................
1st mortgage, registered, railroad..........................
54
....
122
94
....
....
1880
....
....
....
$ ....
1,000
100
100 &c.
500 &c.
lOOO&c.
500 &o.
1,000
100 &c.
$310,000
640,000
2,8K0 000
3,099,800
275,000
250,000
400,000
575,000
150,000
ti)
48
1873
1875
1874
....
1886
14
14
14
184
184
184
184
500,000
2,079,213
2,602,950
3,851,593
....
2,000,000
....
4,375,000
....
1,699,500
....
493,000
1858
1,000
800,000
100 24,500,000
1871
1,000
5,549,000
1874
1,000
4,829,000
1877 lOÓO&c.
5,000,000
50 12,676,700
1869 500 &o.
747,000
1864
Var.
5,000,000
Var.
1867
2,000,000
60
148
148
....
....
339
....
....
1879
1886
1,000
50
500 &o.
25
500 &c.
500 &o.
500 &c. '
7
J. & J. N. York, J. B. Colgate. Jan. 1, 1910
6
3
4
5
5
5
4
6 g-
M. & 8. N. York, J. B Colgate.
J. & J,
Worcester, Office.
Various
do
do
A. & O. Bost., Globe Nat. Bank.
F. & A.
do
do
A. & O.
do
do
do
do
J. & J.
F. & A. New York Agency.
__
7
J. & J.
J. & D.
J. & J.
J. & J.
6
Q -J .
5
Q -J .
6
J. & J.
6
J. & J.
6
J. & J.
1 ^ Q -M ch.
J. & J
7
A. & O.
7
M. & S.
7
2
J. & D.
M.
& S.
6 g.
Q -J .
4*3
Q -F .
6
5
March i, 1916
July 9, 1887
(»)
April 1, 1893
Feb. 1, 1895
April 1, 1894
Jan. 1, 1906
Feb. 1, 1916
N. Y., Union Trust Co. July 1, 1909
Philadelphia, Office.
do
do
July, 1916
Balt., A. Brown & Sons.
London.
Balt., A. Brown & Sons.
Balt., Farm.& Mech.Bk,
Phila., 226 So. 3d st.
N. Y., Bk. of Commerce.
do
do
N.Y. Offloe & Bk.of Com.
do
do
Philadelphia, Office.
do
do
do
do
do
do
'i'870*’
1890
1885
1898
July 1. 1898
Sept. 15,1887
1891
1894
Sept. 1, 1917
June 11, 1887
1894
July 1, 1914
1897
Si
Ashland, 188 miles; do. to Portage City, 72 miles; branches and spurs,
25 miles; total owned, 349 miles. Leased; from Neenah to Schleisingerville, 64 miles; Packwaukee to Montello, 7 miles; operated under con
tract, Milwaukee to Schleisingerville, 33 miles. Total operated, 450
miles.
In January, 1879, the Wisconsin Central Road was taken possession of
by the trustees for bondholders, who still operate it. There was a
land grant of 831,700 acres, of which 177,816 acres had been sold to
Dec. 31, 1886, for $554,687. Litigation is pending on $200,000 bonds
as to preferences claimed by one holder. Interest on the second series is
payable J. and J., but dependent each time on the net earnings of the
half year ending six months before. The stock of $2,000,000 preferred
and $9,435,500 common was deposited tntrustwith Stewart andAbbot,
Trustees, to be voted on until all interest should be earned and paid on
bonds. Trustees’ certificates for new stock (without voting power) have
been issued to the old stockholders, which pass as a delivery on sales.
The Milwaukee & Lake Winnebago RR., from Neenah to Schleisinger
ville, is leased for 99 years; the rental is 37*2 per cent of gross earnings
up to $175,000 per year, all surplus to go equally to lessor and lessee,
and the bonds are issued subject to this lease. From Milwaukee this
company makes use of Chic. Mil. & 8t. Paul tracks 24 miles; an extension
from Schleisingerville to Chicago, 116 miles, is known as the Chic. Wis. &
Minn., and is a close connecting line of the Wis. Central, though the latter
is not responsible for its obligations.
In July, 1887, acontrol of allied roads under one management through
the newly organized Wisconsin Central Company, and new issue of
securities, was proposed, according to the terms given in V. 45, p. 54
In V. 44, p. 807, is an abstract of the annual report for 1886. For
four years the earnings, &c., were:
1883.
1884.
1885.
1886.
Gross earnings............$1,447,798 $1,429,075 $1,461,004 $1,565,313
Operating expenses...
973,732
957,745
941,881
1,182,080
Net earnings........
Rentals,carserv., & c..
$474,065
351,405
$471,330
319,650
$519,123
310,406
$383,233
386,559
railroads, v iz: Lackawanna & Susquehannah, Nineveh, N. Y., to Jeffer»
son Junction, Pa., 22 miles; Valley RR., Carbondale to Scranton, Pa.,
17 miles; Union RR., Green Ridge to Mill Creek, Pa., 17 miles; Ply
mouth & Wilkesbarre RR. and bridge, 3 miles; Gravity RR., Olyphant
to Honesdale, 56 miles; total owned, 114 miles; track of Jefferson RR.
used by contract, 35 miles; total operated in Pennsylvania, 150 miles.
This company is among the largest miners and carriers of anthracite coal,
The stock was increased to $30,000,000 to pay off the bonds due in
1884 and 1891. The remaining $5,500,000 in treasury will be issued in
1891, to take up an equal amount of 7 per cent bonds. To shareholders o f
May 24, 1883, there was allotted 35,000 shares to be paid for at par.
To shareholders of Oct, 1, ’86, there were allotted 10,000 snares.
The annual report for 1886 in V. 44, p. 243, had the following:
The President, in commenting upon the result of operations in 1886,
which showed a trifle over 5 per cent on the stock, says: “ This result
is better than could have been reasonably anticipated, considering tho
very low price at which coal ruled for the larger part of the year, and
could only have been reached by the exercise of strict economy in the
various branches of the company’s service. A very marked improve
ment also in the business of the leased lines has aided the general out
come, and the joss of $313,329 on these roads as reported for 1885 has
been reduced during the past year to the comparatively small sum of
$21,694.
Comparative statistics for four years:
PROFIT and doss.
1884.
1885.
1886.
1883.
$
$
$
Receipts—
$
Sales of co a l....................... 9,575,362 8,213,157 7,201,049 7,399,095
Canal tolls..........................
52,403
47,240
54,551
58,410
Miscellaneous profits.........
287,038
2Ì4.464} 792,716 633,867
Interest on investments...
257,541
892Ì804
649,905
332,653
Coal on hand (Dec. 3 1 ) ....
745,436
830,542
694,941
841,662
Railroad earnings in Penn.
888,559
Profit on leased lines.......
1,905
T ota l.............................11,808,244 10,755,136 9,393,162 9,265,687
Disoursements—
$
$
$
$
492,924
745,436
892,804 649,905
Coal on hand Jan. 1 ..........
Mining coal......................... 4,996,195 4,549,480 3,975,297 4,239,907
W is c o n s in & M in n esota . —Owns from Abbotsford, Wis., to Chip Coal transportation, & o...
811,873 557,500
592,803 873,547
pewa Falls, 54 miles. Leases Ohio. Wis. & Minn. RR., Schleisingerville, Canal freight andlexpenses
1,642,844 1,455,805
826,987 767,151
Wis., to Chicago, 122 miles, and branch 8 miles projected. These Interest........'...................... 1,321,941 1,198,885 1,032,768 1,069,067
roals form the Chicago division of the Wisconsin Central, and enter Taxes and miscellaneous.
546,624 585,446
522,777 468,929
Chicago over the Chicago & Great Western.
Loss on leased railroads.......................
174,490
313,330
21,695
Balance............................... 1,995,843 1,488,094 1,186,396 1,175,485
W o r ce s te r A N ashua A R o c h e s te r . —Owns from Worcester to
Nashua and Nashua to Rochester, 94 miles. This consolidated company
Total............................. 11,808,244 10,755,136 9,393,162 9,265,687
was formed Deo. 1,1883, bv a merger of the Worcester & Nashua and its
GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.
leased line, the Nashua A Rochester.
In Ootober, 1885, a lease of this property for 50 years, from Jan. 1,
1883.
1884.
1885.
1886.
A
ft
stp.
^
s
^
^
1886, was made to the Boston & Maine RR. Co. at a rental of $250,000
and taxes. A financial statement of Jan 1,1887 was in V. 44, p. 91.
Canal................................... 6,339,210 6,339,210 6,339,210 6,339,210
Railroad and equipment..
6,957,188 6,468,684 7,134,018 7,257,329
Z a n e sv ille A O h io.—Line of road from Zanesville, O., to Harmar, Real estate......................... 9,035,163 9,325,365 9,628,325 9,725,394
on the Ohio River, about 80 miles, of which part is yet under construc Mines and fixtures............ 2,796,329 2,792,417 2,795,576 2,792,511
tion. The whole mortgage is for $2.000,OOU bonds authorized. The Coal-yard, barges, &o........
670,678
790,779
934,856 1,007,821
Mercantile Trust Co. of N. Y. is trustee of the mortgage.
Lack. & Susquehanna RR.
1,022,938 1,022,938 1,022,938 1,022,938
A sinking fund will come into operation in 1891, bonds being bought Albany & Susq. R R ..........
520,164
........................... .....................
in the open market at par and accrued interest; in lieu of this funds New York & Canada R R ..
3,597,074 3,597,074 3,597,074 3,597,074
shall be invested.
Cherry Val. & Sharon RR.
300,000 300,000
300,000 300,000
Meehan. & Ft. Edward RR
52,113
51,928
59,131
59,972
CANALS.
Sohen. & Meehan. R R .......
211,280
211,527
211,765 212,993
745,436
892,804
649,905 332,652
Coal on hand Deo. 31.......
A lb e m a rle A C h esapeake.—Canal between Chesapeake Bay Advances to leased lines..
921,663 1,502,789
330,737 861,729
and Albemarle Sound, N. O., 14 miles. Gross earnings 1884-85, $70,- Advances on coal royalties
648,724 698,125
720,055 756,040
000; surplus overinterest, $5,000. Pres’t, Marshall Parks, Norfolk, Ya.
Miscellaneous assets. . . . . .
3,944,549 3,372,0612,740,040’"2,586,396
Telegraph and Car C o ....
69,410
43,035
43,035
14,735
C h esapeake A D e la w a re .—Delaware City to Chesapeake City, Md. Supplies,tools,&c.,on hand
1,466,143 1,611,254 1,185,028 1,135,412
In July, 1886, a heavy defalcation by the Treasurer and an over-issue Cash and bills receivable..
3,914,976 2,823,813 3,964,939 4,459,007
o f bonds was discovered, amounting to $609,200, and in Sept., 1H86, it
Total assets.................. 43,213,038 41,843,804 41,656,642 42,461,218
was proposed by the company to retire old hoods and issue $2,602,950
Liabilities—
$
$ 8 5
$
of new 5 per cent bonds maturing in 1916, thus covering the over-issue.
(See Y. 43, p. 367.) In the year ending May 31, 1887, gross receipts Stock.........................................................20,000,000 23,500,000 23,500,00024,500,000
were $199,212 and net $145,184; surplus, $14,805. (V. 43, p. 22, 49, Bonds....................................................... 18,763,000 15,378,000 15,378,00015,378,000
367; V. 45, p. 52.)
Miscellaneous accounts... 2,444,732
778,072
812,002
694,392
Profit and loss........................................ 2,005,306 2,187,732 L966.640 1,888,821
C h esa peak e & O h io.—This company was assisted with loans by the
State of Maryland. It has long been unable to meet its interest. In a
Total liabilities............43,213,038 41,843,804 41,656,642 42,461,218
suit against the company the Court (January, 1881) declined to appoint a
* These miscellaneous assets include the following: Sundry bonds,
receiver, but ordered the company to report at stated times its receipts
and payments. In 1885, gross earnings were $135,929; expenses, $72,545; 6,500 shares Albany & Susquehanna R R „ $650,000; 16,078
shares Rensselaer & Saratoga RR., $1,607,800; sundry stocks, $256,050.
$184,607. In 1886, gross earnings were $94,138; expenses, $223,415.
- (V . 43, p. 163, 398, 635; V. 44, p. 184, 2 1 0 , 212, 2 4 3 , 335.)
D e la w a r e D iv is io n .—Leased to Lehigh Coal & Navigation Co. at
L e h ig h C oal A N a v ig a tion .—The Central Railroad of New Jersey
interest on bonds and 4 per cent a year on stock. 29,663 shares have
been converted into Lehigh Coal & Navigation stock, leaving only assumed (in purchase ot equipment) $2,310,000 of the gold loan due
1897 and leases the Lehigh & Susquehanna Railroad. The Lehigh A
3,004 shares unconverted.
Wilkesbarre Coal Company assumes $500,000 of the gold loan due 1897
D e la w a r e A H u d s o n .—The Delaware & Hudson Canal Co was and $771,000 (all) of the convertible g o l » loan due 1894. Bonds matur
Chartered April 7,1823, and the canal from Rondout, N. Y., to Hones- ing 1884 were extended till 1914 at 4 ^ . The modifications of lease
dale, Pa., was completed in 1828. The company owns the following under the new arrangement with Central of New Jersey are referred to
Balance ................ $122,660
$151,679
$208.716 def. $3,326
—(V. 43, p. 4 8 , 309. 432; V. 44, p. 682, 8 0 7 , 809; V. 45, p. 26, 240.)
n
o
INVESTORS’
SUPPLEMENT.
[VOL. XLV*
Subscribers w ill cooler a great favor by giving Immediate notice of any error discovered In tbese Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
Size, or
Due.
Amount Rate per When Where Payable, and by pal,^When
Par Outstanding
Stocks—Last
of
For explanation of column headings, «fee., see notes of
Whom.
Dividend.
Cent. Payable
Canal. Bonds. Value.
on first page of tables.
Lehigh Goal <6Navigation—(Continued)—
Mort. loan. g. ($2,810,000 assumed hy other co’s.'
Consolidated mortgage loan....................vVnV™"
Greenwood 2d mortgage, reg. Extended, 1877..
General mortgage......................................................
Morris—Stock, consolidated....................................
Pref rred stock............................... ...........................
New mortgage (for $1,000,000).............................
Preferred stock scrip dividend....................- .........
Pennsylvania—Stock....................................... .... —
General mortg., interest guar’d by Penn. R R ....
Schuylkill Navigation—Stock, common..........
Preferred stock:.................................................
1st mortgage, extended..................................
2d mortgage.....................................................
Mortgage bonds, coup, (payable by P. <fc R .) ........
Improvement bonds...........................................
Boat and car loan, (payble by P. <feR .)...........
Boat and car loan ( do
do ) .......... .
Susquehanna—Maryland loan, 2d mortgage...
Susquehanna Canal, common bonds, 3d mort
do
pref. bonds, 1st mort—
do
pref., 1st T. W. priority 1
do
bonds of 1872,4th mort.
103
103
103
326
326
108
1867 $500<feo. $4,653,000
1,000
2,465,000
1871
1,000
1872
643,000
1,000
1884
2,035.000
100
1,025,000
100
1,174,000
’76-’ 85 1,000
1,000,000
1869 various.
103.164
50
4,501,200
1,000
187Ô
2,934,000
50
684,912
50
3,288,050
1,000
1,691,730
1,000
3,990,392
1,200,000
1,000
1870
228,000
1,000
1863
756,650
1,000
1864
628,100
1839
1,000,000
1,000
1859
1,326,000
500
1884
227,500
500
1884
97,810
1,000
1872
250,000
6 g.
7
7
4*3
2
5
7
7
‘ 6’
35c.
70o.
6
6
6
6
6
7
6
6
6
6
7
J. «fe D. Philadelphia, Office.
do
do
J. <fe D.
F. <& A.
do
do
do
do
Q.—F.
F. <fe A. Leh. Val. RR. Co., Phila.
F. <& A.
do
do
A. <& O.
do
do
F. <fe A.
do
do
1897
June 1,1911
1892
1924
Aug. 7, 1887
Aug. 7, 1887
April 1,1906
Feb., 1889
J. & 'J. Phila., 233 So. 4th St.
Philadelphia, Office.
do
do
Q. —M.
do
do
J. <fc J.
do
do
J. «& J.
do
do
il. <& N.
do
do
do
do
M. <fc N.
do
do
M. «fe N.
J. <& J. Phila. and Baltimore.
do
do
J. «fe J.
do
do
J. «fe J.
do
do
J. «fe J.
do
do
J. <fc J.
July, 1910
Feb. 15,1884
Feb. 15,1884
March, 1897
1882 to 1907
1895
May, 1880
May, 1913
May, 1915
Jan., 1885
Jan. 1, 1918
Jan., 1894
Jan., 1894
Jan., 1902
the four years 1875 to 1878 $278,324 09, imthe four years 1879 to 1882,
$498,708 08, and in the four years 1833 to 1886, $729,579 51. The coal
tonnage also increased, being, with the exception of that of the year
1883, the largest that has ever passed over the road, and only falling
3,994 tons below that of 1883. Our total revenue for 1886 was $1,728,j 507, a decrease since last year of $256,168, which is more than ac
counted for by the lessened profit on coal, which was $261,003. The
disbursements show a decrease of $10,540, and the remainder shows a
decrease of $245,627. From this remainder $89,418 has been deducted
for the coal sinking fund, and two dividends, one of two and one-half
per cent and one o f two per cent, amounting together to $57 0,408, have
Total r e c e i p t s . . . . . .. . . . . . . . .. . . . . . $2,048,551 $1,984,676 $1,728,507 been paid, which drew on the dividend fund to the extent of $39,806.
Disbursements—
$53,948 The work of developing our coal lands has been, pushed forward vigor
$59,454
$58,460
General and legal expenses...............
75,526 ously through the year, and the rate of production of our mines can be
73,061
RentandtaxesNesquehoningVal.RR
97,050
39,581 fully maintained during the coming season. (V. 43, p. 634; V. 44, p.
61,965
Rent and taxes Delaware Div. Canal
69,921
89,739 2 7 4 ; V. 45, p. 113.)
80,039
Taxes..................................... - ..............
80,078
M orris.—Leased April, 1871, to Lehigh Valley Railroad for 999
844,692
844,488
Interest account..................
854,069
years. The lessees assume bonds and scrip, and pay 10 per cent per
annum
on pref. stock and 4 per cent on consol, stock.
Total disbursements .....................$1,159,578 $1,119,027 $1,108,486
Balance of e a r n i n g s . . . . $888, 973 $865,649 $620,021
P
e
n
n
sy lv a n ia ..—Worked in interest of Pennsylvania RR., which
Less sink. fd. of 10 p. c. p. ton on coal $80,717
$93,558
$89,419
uarantees interest on bonds. An old mortgage balance of $67,000 isLess deprec’n on coal, impr’ v’m’ts,<&o.
76,026 86,869
..............
ue in 1887. Earnings in 1886, $281,385; net, $79,537; interest, $170,640; loss, $91,103. Earnings in 1885, $274,207; net, $128,765; interest,
Total...............................................
$156,743 $180,427
$89,419 $175,350;
def., $46,584.
Surplus for year............... ........
$732,230 $685,222 $530,602
S c h u y lk ill N a v ig a tion .—Leased from June 1,1870, to Philadel
Balanceto credit o f div’d fd . ja n . 1 ..
665,934
679,936
683,843
phia <& Reading for 999 years. The unpaid rental by P. <fe R. to Deo.
Total
..........................................$1,398,164 $1,365,158 $1,214,445 31, 1886. was $1,287,993. The P. <& R. has paid some of the cou
D i v i d e n d s * . $738, 228 $681,315 $570,408 pons and purchased others, but in Dec., 1886, interest was not paid,
and in March. 1887, the P. <& R. threatened to relinquish the canal
6
6
4^3
Rate of dividend.................. ...............
and withdraw its boats. By assent of nearly all the holders, an adjust
B a l a n c e to credit of div’d fund Deo.31
$679,936 $683,843 $644,037 ment of the debt has been madeiunder the Phil. <fc R jading reorganiza
tion plan. The report for 1886 (V. 44, p. 210) gave a statement of the
The annual report for 1886 in Chronicle, V. 44, p. 274, said:
company’s relations to- the P. <&R. company and a history of its pros
The earnings of the Lehigh <& Susquehanna RR. system increased perity in former years. The loss to the Reading in 1885-86 was $477,$78,304 06, and were larger than in any year before, with the exceptira 614; loss in 1884-85, $444,292. (V. 44, p. 752, 782, 809; V. 45, p. 143.)
o f 1883. The chief gain was in freight and express earnings, and, while
S u squ eh a n n a.—Leased and operated by Philadelphia <& Reading
the system of railroads does not extend beyond Scranton, wo have been
able to get an increasing amount of Northern and Western business, as Railroad for interest on bonds and half of net earnings. Under th*»
Reading
plan, the stock and bond holders have generally assented to an
well as to share in the increased volume of local freight traffic, so that
notwithstanding the steady decrease of freight rates for some years, our exchange of securities. Loss to Reading in 1885-6, $239,784; loss-in
earnings from this source have largely increased, having averaged in 1884-5, $230,657. (V. 44. p. 809.)
in V . 45, p. 113. The Board of Managers’ reportfor 1886 hadthefollowlng statement of receipts and disbursements:
Receipts—
1884.
1885.
1886.
From railroads and Nesque. Tunnel. $1,458,200 $1,459,035 $1,464,381
Lehigh Canal, incl. water powers.......
97,969
_ 50,220
11,038 def. 1,995
Delaware Division Canal— .............
58,951
396,108
135,104
Net profit on Lehigh Coal....................
370,101
Royalty on coal mined by lessees,
52,524
80,797
revenue from rents, «fee., «fee.. . ........
63,330
f
September, 1887. j
RAILROAD
STOCKS
AND
BONDS.
117
Snbscriber© w ill confer a great fa v o r b y g iv in g Im m ediate notice o f a n y error discovered In these T a b les.
[
DESCRIPTION.
INT
Bonds—Princi
INTE REST OR DIVIDENDS.
Date Size, or
pal,When Du©
Amount
For explanation of column headings, &o., see notes on
of
Par
Rate per When Where Payable, and by Stocks—Last
first page of tables.
Bonds Value. Outstanding Cent.
Payable
Whom.
Dividend.
$100 $12,000,000
Q.—M.
N.
Y.,
Company’s
Office.
Sept.
1, 1887
American bell Telephone—Stock......................... .................
Q .-J . Boston, Compy’s Office.
Oot. 1887
Amer. Tel. <&Cable—Stock, guar. 5 by West. Union............... ....
100 14,000,000
Q.—M. N. Y., West. Union Tel, Sept. 1, 1887
25
1,500,000
2
M . & 8,
N. Y., 1 Broadway.
Mar. 10, 1887
100
j.
Q -F .
New York Office.
Aug. 1, 1887
....
18,000,000
3
J. & J. N. Y., Company’s Office. July 1,1887
Cameron Iron <6 Coal Co.........................................................
Canton Company—Stock (44,300 shares)...............................
Central <&South ~Americ in Telegraph —Stock.......................
100
i 1© Q.—J.
New York Office.
July, 1887
3.000 000
2>a
Q .-J .
Pittsburg.
July, 1887
Colorado Coal <&Iron—Stock............................................... .
10,000,000
1st consol, mortgage, gold.................................................... 1880
1,000
3.499.000
6 g . F. &" A. N.Y., Company’s Office. Feb. 1, 1900
Columbus<6 Hocking Coal <6 Iron Co.—Stock.......................
100
4.700.000
1st mort.,g., sink, f ’d (on 13,351 ac res I’d, mines & b’d’gs) 1887
1,000
1,000,000
6*v
J. & ‘j . N. Y ., Central Trust C o. Jan. 1 ,1 9 11:
Commercial Cable—Stock.................. ............................ .
Consolidation Coal o f Maryland—Stock...............................
T o o 10,250,000
/ OCi
N.Y., Co.’s O ffice, 71 B’y Jan. 28, 1887
1st mortgage, consolidated, convertible............................ 1872
1,000
2,444,500
6
J. & J.
do
do
Jan. 1, 1897
Consolidated Oas (N .¥.)—Stock.............................................
100
N.Y.,
Office,4 Irving PI. June 15,1887
Bonds, Municipal Gaslight Co.............................................
291.000
Farmers’ Loan & Tr. Co. May 1, 1888Bonds, Metropolitan Gaslight C o........................................
....
658.000
do
do
Aug. 1, 1901
Bonds, Knickerbocker Gaslight Co.....................................
o
N. Y., Company’s Office. June 1, 1898
Cumberland Coal <£Iron—8tock...........................................
Too
500,000
6
4. & O. N. Y., 19 Courtland St.
(?)
100
3,000,000
Q.—J.
New York Office.
July 1 5 ,1 8 8 7 '
Bonds............. .1......... ............................................................
"io'o
5,000,000
"|ifl Q .-J . N. Y., West. Union Tel. July, 1887
B o n d s ____
1......................................... ......................
500
500,000
Æ. & N.
do
do
Nov., 1887
International Ocean Telegraph—Stock ...........................
l 1© Q .-J . N. Y., West. Union Tel. July 1, 1887
Too
769,100
Boston,
Treas.
Office.
Nov. i, 1886
Iron Steamboat Company—Stock ................................. .
Nov. 1, 1886
Bonds........ .......1....”.......... .................................. 1881
"öÖO
500,000
J.
N. Y., First Nat. Bank. July 1, 1901
Lehigh d Wilkesbarre Coal—S tock ................................
Sterling loan .............................................................
1899
Mortgage loans ($110,000 are 7 s )......................................
593,211
6 &7
N. Y., 160 Broadway.
A m erican B e ll T elephone C o.—See report for the year ending
1885..
1886.
Dec. 3 1 ,1 8 8 6 , in Chronicle , V. 44, p 433. In 1886 paid 16 per cent Less interest on bonds..........................
$299,940 $209,940
dividends, including an extra dividend of 4 per cent. In 1887 an extra Less interest, discount and exchange.
2,432
dividen i of 4 per cent was paid Aug. 15. (V. 44, p. 4 3 3 .)
$209.940
A m erican T elegraph Sc Cable Co.—Owns two cables between
Surplus.......... ....................................................sui\$25^744 $132,321
Sennon Cove, England, and Dover Bay, Nova Scotia. The stock of Increase m 1886 over 1885..................................
$106,577
$20,000,000 was 70 per cent paid up, and in April, 1882, a pooling ar Royalties earned, included in oper. expenses".*"..
$64,84Q $60,657
rangement was made with the other cable companies for 38 years, by
In the real estate department the earnings are wholly from'rentals o f
which this company receives 22^ per cent of combined revenues while mouses,
lands, &c., containing no receipts from land sales. (V. 44, p ,.
both its cables are working and 12*9 per cent if only one is working
which percentages hold good for one year after any breaking of the
cables; if not repaired within that time the percentages are reduced
C olum bus Sc H o c k in g Coal Sc Ir o n Co.—The oomoany was .
according to the time that the cables remain broken. Then this com organized at, Columbus, O., Jan. 26. 1883, and Its general offices are at
pany’s cables were leased to Western Union for 50 years, with a guar Lolumtms.O.; Mr. Percival Farquhar, President. The N.Y. office is at 10
anty of 5 per cent per annum on the stock issued—$14,000.000.
Wall 8t. Tae Central Trust Co. of N. Y. is trustee of the mortgage.
Idie company owns large coal and iron properties, with e «tensive work©
Am erican C oal.—There are mortgage bonds for $230,000. The thereon,
in Ohio, and a full description of these was published in the
annual report for 1886 gave the following information: Income, 1886, Ch ronicle
of Feb. 26, 1887, V. 44, p. 278. The total property and
$444,839; total expenses and dividends, $442,857; balance, $1,981 assets on Jan.
1,1887, as per balance sheet, were $5,657,535.
—(V. 44, p. 2 7 4 .)
The gross earnings, oDerating expenses and net earnings of the com
A m erican C otton Oil T r u st.—This is a “ Trust” formed to con pany from March 1,1883, to April 1, 1887, were as follows :
trol a large proportion of the cotton seed oil mills of the United States
Gross earn’gs. Oper. Exp. Net earn’gs..
The Board of Management consists of nine trustees, of whom three are
Date
$
$
elected each year. The title deeds of the several properties owned are
139,534 31’
deposited with the trustees, who issue their trust certificates of $100
100,542 9 6
each, and these are dealt in at the Exchanges. Up to the close of the
160, 418 49year end'ng May 31,1837, the net earnings were $2,439,720, and the
164,220 Ofc
balance of unsold prtiducts at close of the year were $3,878,660; cash on
Interest charges per annum on bonds of $1,000,000, $60,000.
hand, $757,819. Dividends of 1 per cent quarterly for the ensuing —(V.
44, p. 278, 553.)
year were declared. The Board of Management is composed of John
V. LewiS> w . P. Anderson, F. H. Baldwin, of Cincinnati; W. H. Burnett,
C o m m e r c ia l C a b le C o .—This is popularly known as the Maskay
cag0;
W. Cochrane, of Memphis; E. Urquhart, Little Rock; J. p®aueoc Cable Co. in September, 1887, the stock was raised from,
t 1 xlg0; . New ° rIeans: Ly.nan Klapp, Providence, R. I.; John Scott and $4,000,000 to $6,000,000.
J. L. Micaulay, N. Y. Office. 18 Broadwav, N. Y. Officers: John V.
Consolidated G a s o f N ew Y o r k .—This company was organized
Lewis, President; E. Urquhart. Vice-President; J. L. Macaulay, Treas’ Nov.
11,1884, under chapter 367, laws of New Yortt, 1834. The comurer; Jules Aldige, Secre ary.—(V. 45, p. 25.)
oanies merged in it were the New York Gaslight, the Municipal Gas
C am eron Ir o n Sc Coal Co.—This company was organized by let light,the Metropolitan Gaslight, the Manhattan Gaslight and the Harlem
ters patent of the State of Pa., and filed its certificate Dec. 7,1886. Gaslight. The total stock was $39,078,000, o f which $3,647,940 was
lh e iauds and propeity are near Emporium, Pa., aud formerly belonged reserved for working capital and for indebtedness of old oompanies.
to the Cameron Coal Co. Nicholas C. Miller, President, N. Y. SeeV.
C on solidation C oal.—Annual report for 1886 was in V.44, p. 210..
44, p. 117,149,184.
The gross receipts from mines, railroads, rents, 1885.
1886
C anton Com pany (B a lt.)—The capital stock, by changes made
&e (lncl’g value of st’ok of coal on hand), were.$2,055,313 $2,039,427
subsequent to the original issue, became practically only $16 25 par Tot. expen’s of every kind (excl. of int & sink. fd.,
per share, and was reduced by purchase and cancellation to 44,300
but incl. steel rails & all extraordin’ry outlays). 1,750,772
1,783,442shares. A brief history of the company was given in V. 30, p. 117. The
$255,985 ’
Net receipts. . . . . ............................................... $304,54o
company owned the stock of the Union RR. Co. and guaranteed its bonds,
The int. and sin k .fd .in i 886 took $166,831; balanoe, surplus, $39,15 6
VSlU8 *™ 1^04
inlb0?T’000) *2. tke Northern Central RR. in April.
Consolidated
mortgage
bonds
are
hold
to
retire
old
bonds.
This
com
^or
, The Union RR. sinking fund of $689,885 remained
the property of Canton Co., but is held by the trustees till bonds have pany guarantees also 2d mortg. bonds of the Cumberland & Pennsyl
vania,
and
assumes
$135,000
of
the
Union
Mining
Co.’s
bonds.
The
Fq1*«
at maturity. The last of Canton Co. bonds were paid
July, i o 8o.
total bonded debt on lands and railroads is $2,417,500. (V. 44, p. 21 (M
E q u it a b le G as L ig h t C o .—Incorporated March 9, 1«82. Own©
«“ “
f g o u t l i A m . T e le g r a p h .—Line from Vera Cruz, Mexico,
to ChorrUios, Peru, with branches, 3,100 miles of cable and 335 miles of three bio. ks between 39th an ! t2d Sts., First Ave. an i East River; also
^ d l i n e s . Completed November, 1882. Connects at Lima with West 32 lots between 58th and 59th Sts. and 10th and 11th Aves Total assets,
1.700 miles of cable to Valparaiso, ¿an. 1, ±S37> $5,128,242; mains about 7-s miLes; gas works valued a t
and at Vera Cruz with Mexican Telegraph Co. Stock is $5,000,000; no $2,032,520: real estate at $1,159,265. Office, 340 Tmrd Ave R. M. CL
re7 eo Ue Dec- S.1« 1886, after providing for dividend, Graham, President.
$154,179. James A. Scrymser, Pres’t, N. Y. (V. 44, p. 2 7 4 .)
In tern ation a l Ocean Telegraph C o.—The Western Union Co.
eJ
C o *“ TMs company owns upwards of operates the line oy contract for 99 years from Jan. 1,1882, paving 6
acres of lauds in the counties of Allegheny, Washington and per cent per year on stock.
in6plttRhenr^dnii^'’
A^LPi.0duCti^
of “ atural
and supplies
G old Sc Stock Telegraph Co.—Operated by West. Uo. Tel Co. by
m Pitt8bar0 and Alleghany
cities.
See fullgas,
statement
in V.the
44,gas
p.
coatract lor 99 years from Jan. 1, ’ 82, at 6 per cent per annum on stooir
- ( V o l J44, p ‘ 4 0 (f ) bfcrS’ Pre8 t; Jolm H- Dalzell, Treas., Pittsburg, Pa. and bonds.
Iro n S te a m b o a t C o .—Property consists of seven iron steamboats.
* I r o n . —This company, with headquarters at Col- Bond© and stock listed in June, 1882. Stock, $2,000,000. Gross earnorado Springs, Col., was a consolidation Deo. 13,1879, of the Central
$337,707; net, $38,333. Paid interest ou bonds, $28,aniirruo?i
r l S 1Coal & Iron Co.CoJ?rai??
* Steel Works and the iT 2 ;ooJ.71<Jeud 011 8t00k <3 Per cent, Nov. ’86). $60,000; deficiency,
Soutneiu Colorado
Stock is Coal
non-assessable.
$49,832; but there was a sumlus from previous year of $40,503.
An abstract of the report of 1836 was in V. 44, p. 400, showing gross leaving deficit Oot. 1, 1886, $9,324. (V. 43, p. 452.)
earnmgs and net income as below stated.
*s
L eh ig h Sc W tlk esb arre C oal.—This company was organized F eb.
-1885.-1 8 8 6 .----6,1874. It is controlled by the Central RR. of New Jersey through
Gross
Net
Gross
Net
ownership
of a majority of the stock, and the Central of New Jersey
_ , .
.
Earnings. Earnings.
Earnings. Earnings. owns $6,116,000 of the consol, mortgage bonds and $2,353,000 of the
Coal department............. $757,460
$134,030l
Coke department............ 322,427
110,077$ $1,197,270 $285,400 income bonds. The L. & W Coal Go. also assumes and counts as part o f
its funded debt $747,50 >bonds due 1894, and $500,0JO bonds due 1897,
Iron and steel dep’t ....... 562,236 loss26,427
690,083
654,346 ° f the Lehigh Coal & Nav. Cj . The company was In receiver’s hand©
Iron mines dep’t .............
7,937 loss.2,096
loss.976 with Central of New Jersey, and In March, 1882, the receiver was dis
Real estate dep’t.............
24,651
7 059
24,953
8,308 charged and property returned to its stockholders. Mr. W. H. Tilling
Miscellaneous earn’gs___
4,729
4)729
5,140
5,140 hast, Pres’t, N. Y. City. The annual report for 1886 was in V. 44, n. 274.
—(V. 44, p. 2 74.)
Totals..........................$1,679,440 $227,373 $1,917,449 $333,611
M ariposa Lan d Sc M in in g .—There are outstanding only 15,000INCOME ACCOUNT.
shares, the balanoe being owned by company. Litigation has been in
1885.
1886.
progress
many years and nothing done on the estate.
Net earnings........ .................................................
$227 373 $333,611
M arylan d Coal C o.—No late report. The business of 1882 include
Add income from investments, & c........ T T T
10)743
8,650 x
total shipments of 97,777 tons.
$238,116 $342,261
Total.......... f ..................................... .................
The profit and loss account in 1882 was as follow s: Balance Jan,
118
INVESTORS’
SUPPLEMENT.
[ V o l XLV.
Subscriber« w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
Date Size, or
Amount
When 1Where Payable, and by
Par
Rate
pei
For explanation of column headings, &c., see notes on first of
Whom.
Cent. Payable!
Bonds Value. Outstanding
page of tables.
Lehigh & Wilkesbarre Coal—(Continued) —
Consol, mort. ($6,116,000 of this held by Cent, of N. J.)
Sundry mortgages............. .............................
ln c’ me bds,reg.(not cum.) $2,3 53,000 held by Cent. N.J.
Harinosa Land <6 Mining—Stoch...........................................
Preferred stock.......................................................................
Mortgage bonds.............................................................. .......
Maryland Coal—Stock.............................................................
Bond.........................................................................................
Mexican Telegraph—Stock.......................................................
¡few Central Coal—Stock.............. ..................................—
ff. Y. Mutual Telegraph—Stock, guaranteed 6 per cent —
1st mortgage bonds, gold, guar, by West. U nion..............
2few York <6 Perry Goa'■<6 Iron Co.—S t o c k ..........................
¡few York & Texas Land ( Limited)—Stock............................
Land scrip receivable 75 per cent for lands.....................
Debentures, registered..........................................................
¡forthweslern Tetegraph—Stock...............................................
Bonds, interest guaranteed..................................................
Oregon Improvement Co.—Stock.............................................
Preferred stock .......................... ..........................- .......
1st M., gold. sink, fd., $309,000 held in s. f., but draw int.
Pacific Mail Steamship—Stools................................................
Pennsylvania Coal—Stock.......................................................
Philadelphia Company—(Natural Gas) Stock.....................
Postal Telegraph & Cable Co.—Stock ($21,000,000).............
1st mortgage (for $10,000,000).......... ..... ......-- --- —
Poughkeepsie Bridge.—1st mort., gold, for $5,000,000.......
Pullman Palace Car—Stock....................................................
Bonds, 4th series...................................................................
Bonds, debenture...................................................................
Quicksilver Mining—Common stock......................................
Preferred 7 per cent Btock, not cumulative.......................
1875
1875
1881
$ 1,000 $11,500,000
1ÓÒ&C.
100
100
1,000
100
1,000
100
100
25
1,000
100
50
50
Too
1880
100
1,000
100
50
50
1886
1,000
100
1872
1878
1,000
1,000
100
100
366.409
3.472.300
10,000,000
5.000.
250.000
4.400.000
161.000
1,434,400
5.000.
2.500.000
5.000.
3.000.
1.500.000
2,946,±00
33,000
2.500.000
1.180.000
7.000.
2 , 0 0 0 /0 1
Q .-M . N. Y., 160 Broadway.
7
do
do
5, 6 & 7
do
do
M. & N.
7
000
ïià
7
2%
000 1
3
000 6
000 1*4
30
J. "<sT j .
New York.
M. & N. N. Y., 135 Broad wav.
Q .- J. N. Y., Company’s Office.
New York, Office.
J. & J. N. Y., West. Un. Tel. Co.
M. & N. New York, 1st Nat. Bn.
New York.
Stocks—Last
Dividend.
June 1, 1900
May "Í," 1888
J a n .1, 1886
Jan. 1, 1876
Nov. 1, 1906
Jul 7 9, 1887
M’oh 1, 1887
July 1, 1887
May 1. 1911
Apr. 25, 1887
May, 1887
J. & J.
J. & J.
1900
7
2“ ie J. ib J. N. Y. West. Un. Tel. Co. July l, 1887
do
do
Jan. 1, 1904
7 g.
J. & D.
Sept. 15. 1883
000 4
....
N.Y., Company’s Office. Dec. 1, 1910
5.000. 000 " 6 g.
Sept. 15, 1887
1
Q.—F.
20, 000,000
N. Y.. 1 Broadway.
June 1. 1887
Q .-M .
5.000.
000 4
Pittsburg.
Sept. 25,1887
M’thly
1
7,500,000
7.000.
000
q ‘- f . N.Y.Am. Exch. Nat. Bk.
3.000.
000*6*
New York City.
Aug. 1. 1936
5,000/100
6 g. F & A.
Q .-M . N. Y., Farm L. & T. Co. Aug. 16, 1887
15,0Di .000
2
Aug. 15, 1892
do
do
A. & O.
820,000
8
do
do
Oct. 15, 1888
955,000
7
May, 1882
5,708,700
40c.
Aug. 15. 1887
4.291.300
Q .-F .
ihî
1882, $16,780; balance credit coal account, $21,885—$ i l , 666. E x P h ila d elp h ia C o m p a n y .—The company was incorporated by
penses—interest, $7,091; interest on bonds, ^^»^JO; taxes, $7,78 , special act in Pennsylvania. March 20, 1871, as the Empire Contract
salaries and expenses, $13,221; legal expenses, $501—$40,276; balance Company, and after various changes took the present name June 11,
Jan. 1, 1883, $1,389.
1884. It has absorbed.a number of different companies and controls a
M exican T eleg ra p h .—Company organized in 1878 under laws of large share of the natural gas production about Pittsburg and vicinity,
New York State. Has a cable from Galveston to Tampico and Vera owning or leasing 54,000 acres of gas territory and about 350 miles of
Cruz, 733 miles; land line, Vera Cruz to Mexico City, 267 miles, pipes. The company began to pay dividends in Oct., 1885, and has
Has exclusive right for 50 years for all foreign telegrams to Mexico, since then paid 1 per cent monthly. In September, 1887, the stock was
except telegrams to and from a neutral zone on the Uni tea »rates raised $ 1,000,000 to above amount. Geo. vVestinghouse, Jr., President,
border 156 miles wide, between the- Gulf and Pacific Ocean. Company Pittsburg. (V. 44, p. 744 ; V. 45, p. 292.)
owns 1,362 shares of the Central & South American Telegraph Co. Rev
P o sta l Telegraph Sc Cable—Of the stock $7,000,000 is out
enues in ’ »6, $221,001; expenses, $59,290; dividends, 8 p. c., $ l i 4 . standing, $12,000,o00 is held in trust, and balance remains
752; surplus, $46,959; total surplus Deo. 3 1 , 18-16, $68.745. Capital in treasury. Mr. J. W. Mackey is the President.
The name
Stock is $1,500,000. Jas. A. Sorymser, Prest., N. Y. (V. 44, p. 274.)
of the Postal Telegraph Co. was ohanged November, 1883.
(See
V.
37,
p.
564).
The
Postal
Telegraph
Company
sold
all its
N ew Central Coal (M d .)—The annual report for 1886 in V. 44, p.
274, showed net profits for year of $7,818 ; and balance to credit of property and franchises to the Postal Telegraph & Cable Co., which was
organized
under
the
laws
of
this
State
expressly
for
this
purpose.
profit and loss Dec. 31,1886, of $252,684. (V- 44, p. 274.)
In May, 1885, receivers were appointed, and a scheme for reorganiza
N ew Y o r k M u tu al T eleg ra p h .-T h e Mutual Union Telegraph ción of the Postal Telegraph & Cable Co. was proposed, as stated in V.
Co. was organized under New York State laws. Stock was $600,000 ana 40, p. 626, 645, by which the company will have no bonded debt and
afterward increased to $10,000,000. In Feb., 1883, a lease to Western stock for $5,000,000 only. The present bonds will take new stock for
Union for 99 years was agreed to at l 1^ per cent yearly dividends on 35 per cent of their face, and the old stock will receive 5 per cent of its
the stock and interest on the bonds. The organization was changed to amount in new. Foreclosure suit begun by Farmers! Loan & Trust
the New York Mutual Telegraph Company and the stock was reduced to Co- Nov., 1835, and sale took place Jan. 15,1886, for a nominal price of
«2 , 500,000, carrying dividends of 6 per cent per annum.
$280,000. See V. 42, p. 94. (V. 43, p. 125.)
N. Y , Sc Perry Coal Sc Ir o n C o .—This company was organized
P ou gh keep sie Bridge C o.—Chartered in 1871 to build a railroad
under the laws ot New York in June, 1885, as a reorganization of the
N. Y. & Straitsville Coal & Iron Co., which was foreclosed. The assets, bridge across the Hudson River at Poughkeepsie. Active operations to
complete
the work were begun in 188.6, and contract made with Union
as per balance sheet on June 20,1887, were $3,476,468, and stock was
increased to $3,000,000. A full exhibit was published in the Ch ron Bri ige Co., the bridge to be ready for traffic by Jan. 1,1883. Capital
stock,
$5,00
>,000. (Abstract of mortgage in Yol. 45, p. 275.) N. Y.
icle . (V. 44, p. 744; V. 45, p. 55, 84. Office, 52 Broadway, N. Y. Uty;
office, 15 Broad Street.
•
C. R. Griggs, President.
P u llm a n P alace Car.—The stock has been increased from time to
N ew Y o r k Sc T ex a s H and—This company took the lands granted
to the International and Houston & Great Northern railroads, about time to provide new capital, as wanted, since the price, ruling above
5 ,000,000 acres, which were given in settlement to the boldeisof con par. gave a bonus to stockholders when subscribing fo r new stock.
vertible and 2d mort. bonds. June 30,1886, had 3,574,400 acres unsold. Annual report for year ending July, 3 1 ,’86, was in Ch ronicle , Y. 43,
p. 486. Incom e account for three years was as follow s:
— (V. 44, p. 527.)
Revenue—
1893-84.
1884-85.
1885-86.
N orth w estern T eleg ra p h .—This company owns 8,000 miles of
wire and is leased to Western Union for 99 years, with guaranteed divi Esfrnings (leased lines in clu d ed )........$3,912,510 $4,946,151 $5,075,383
543,947
667,477
548,129
dends of 4 per cent at first, rising one-eighth per cent a year to 6 in Patent royalties, manuf. profits, &o..
1897 and afterward. The bond interest is guaranteed.
Total revenue.................................. 4,456,457 5,613,628 5,623,512
Oregon Im p ro vem en t C o.—This company owns $3,000,000 stock
of the Seattle Coal & Transp. Co.; $575,000 stock of the Columbia &
Puget Sound RR.; $1,969,900 stock of the Pacific Coast S. S. C o.; OpOT.^expenses, <fcc. inol. leased lines. 1,316,387 1,949,655 2,057,627
Floating debt Nov. 30, 1886, $703,230, and assets $685,219. The Paid other sleeping-car associations
708,005
802,176
controlled and operated..................
136,556
$2,000,000 pref. stock to pay for improvements, &c , was issued June,
162,529
66,000
264,000
1887. (See V. 44, p. 654). For year ending Nov. 30, 1886, gross earn Rentals of leased lines..........................
171,453
168,050
171,466
ings, $2,934,818; net. $726,003. From Dec. 1, 3 836, to July 31 in Coupon interest on bon ds.....................
1,273,962
1,274,028
Dividends
on
capital
stock
...................
1,339,621
1887 (8 mos.), gross earnings were $2,921.381, against $2,179,189 in
100,000
100,009
1885-6 ; net, $948,208, against $651,253. (V. 43, p. 49, 191. 3 0 8 , 459, Contingency account.
35,733
Profit and loss.
-579, 746; V. 44; p. 91, 212, 654, 752, 809; V. 45, p. 53, 84, 211, 369.)
Pacific M a il Steam ship.—The Pacific Railroads gave to the steam
Total disbursements....................... 3,263,763 4,365,604 4,467,881
ship company a monthly subsidy of $85,000 per month—this agree
ment terminable on 30 days’ notice after Nov., 1885, and such notice Net result............. ................................. 1,192,694 1,248,024 1,155,631
■was given in Feb., 1886, and the agreement stopped. The annual report
Q uicksilver M in in g .—The preferred stock is entitled to 7 per ct.
lo r fiscal year ending April 30,1887, was in the C h r o n i c l e , V. 44, p. per annum, not cumulative, and any surplus goes to the common and
680. President, J. B. Houston, N. Y.
preferred equally. See annual report for 1886-67 in V. 45, p. 83, show
A t the annual meeting of the stockholders in May, 1886, the follow ing net income for the year of $178,448; (V. 43, p .7 2 ; V. 4.5, p. 83.)
ing were re-elected directors for the ensuing y ea r: Messrs. Jay Gould,
St. L ou is B ridge Sc T u n n e l R a ilr o a d .— The railroad and tunnel
Russell Sage, C. P. Huntington, Henry Hart, William Remsen, Edward
were sold under the mortgage of 1873, July 1,1878. Foreclosure under
Lauterbaeh, J. W. Shaw and J, B. Houston.
The following is a statement of the earnings and expenses for the the first and second mortgages on the bridge was made Dec. 20,1878.
On July 1, 1881, the bridge and Tunnel Railroad were leased to the Mo.
years ending April 30:
Pacific and Wabash St. Louis & Pacific for the term of their cor
EARNINGS.
porate charters, on the terms following, viz.: Of the stock $2,490,000
1884-85
1885-86.
1886-87. first preferred, by the terms of the lease, is guaranteed 6 per cen t;
000 000 second preferred is guaranteed 3 per cent per annum.
Atlantic Line.................................... $1,016,172
$957,810
$766,080 $3
1,848,781 1,603,536 1,368,882 The railroad stock of $1,250,000 is guaranteed 6 per cent a year.
Panama Line..................................
The
whole annual charge for rentals is $670,000, one-half payable by
Trans-Pacific Line..........................
1,547,225 1,534,272 1,282,317
Missouri Pacific and one-half by Wabash. The common stock was held
Australian Line...............................
159.066
166,414
......
bv
the
London Reorganization Committee, and under the lease was
Subsidies and other sources..........
254,949
217,906
216,092
transferred to Mercantile Trust Company of N. Y. with power to vote
thereon.
the year ending Dec. 31,1885, gross earnings were $1,542,Total........................................... $4,826,193 $4,479,939 $3,633,371 879- fixedIn
charges and guar, divi’ds, $873,522; surplus balance, $2,042.
In 1886 gross earnings, $1,5 >4,212; net, $836,799; charges, $359,027;
EXPENSES.
deficit $22,2 ¿8—caused by Southwest strike.
1884-85.
1885-86.
1886-87.
Sterling Iro n Sc R a ilw a y .—The property of this company, in
Atlantic Line.................................
$579,028
$608.065
$690,166
Panama Line..............................
1,100,506
1,080,241 1,357,949 Orange County N. Y., (and a few acres in Rockland) consists of 25,000
acres
of land, with furnaces, &c., having a capacity of 15,000 tons of
Trans-Pacifle Line.........................
737,392
714,100
682,821
pig iron per year, and 7*2 miles of railroad, houses, &c. The company
Australian Line.........................
@FedFRASER