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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 of Congress, In the year 1891, by Wm. B Daw* a m in < *,»
■
T..
_________________
______
r ttjii. aj. wana * c o „ In the office of the Librarian of Congress, Washington, D. C.]
VOL. 53.
NEW YORK, SEPTEMBER 26, 1891.
I N V E S T O R S '
S U P P L E M E N T .
The difference between years of good and bad crops
13 strikingly presented by placing in comparison the
figures showing the estimated yield of the principal
crops of cereals and of cotton in the United States dur
TER M S :
ing four successive years. For the present year, 1891,
p i e Supplement is published on the last Saturday of every other
m onth-viz., January, March, May, July, September and November we have the estimates for grain based on the Agricul
and one copy of each issue is furnished, without extra charge to all
tural Bureau reports up to September, and for cotton
r 6 ? r subscribers o f the Commercial and F inancial Chronkle
AM
copies o f any issue are sold to subscribers at 50 cents each
a rough estimate at this early date of 1,000,000 bales
and to persons not subscribers at $1 each. No subscriptions are taken'
for the Investors’ Supplement apart from the ChronS
less than the maximum crop raised in 1890. For pre
^ N T r wtl$10P 2 0 6in° t h e
I n v ESTOR8’ SUPPLES e s c o v l r postage.
t6d 8tat6S and ^
50 ln EuroI>e’ these vious years we have the Bureau's final estimates for
grain and the C h r o n i c l e ' s figures for cotton.
W IL L IA M
B . D A N A & CO., P u b lish ers,
102 William Street, New York.
ESTIMATED TIELD OF WHEAT, CORN, OATS AND COTTON.
CONTENTS.
R ailroads
Railroad Maps, Tables and Remarks
6
^ ^ | ? a i l T O 8 i ! aneOU8 Pag6S (except Delaware' '¿"¿¿d ?o n ,_
ade
M iscellaneous Companies. ! ! ” ... ................... *......................... “ VAo'iiS
............. I.................... j .........
T rust Companies.........
1888.
1890.
1891 (E$t.)
Wheat. Bush. 415,868,000 , „ 1 8 8 9 .
Corn., bush l,987;79d;6d6 2,fl2,892|000 1,489)970^000 2,027'000000
Oats., .bush. 7ni ,«*vnno 751,515,000 523,621,000 694,000,’000
bush 701,735,000
Cotton.bTes.
6,935,082
7,313,726
8,655,518
7,655,518
Reducing bushels of grain and bales of cotton to
tons, we have in round numbers on these iour leading
u ? r ^ ? ^ r Co“ PANI??_NeW York c ity and Brooklyn! ! ! ! ! ! ! ! ......... 153 products an estimated tonnage in 1891 greater by
R ailroad M onthly E arnings for F our Y ears .
.................. " . ’ .'.15 4
22,000,000 tons than that of 1890, or an increase of
more than one-third over that year. The exhibit for
H O W WILL THE LARGE CROPS AFFECT two years is given as follows :
B anks —N e w Y ork Cit y ...........
............................................... . ‘ ' i « q
I nsurance Companies—New York City...................................................is o
INVESTMENTS ?
TONS PRODUCED IN 1890 AND 1891.
It is difficult for foreigners to understand and fully
1891. .
^ ® at........
. . . . . . . . . ......... ..11^977,860
16.500.000
appreciate the difference between a year of abundant C o r n . . . . . . ....... . .. ..............................£.......... *1,719,160
.
56.756.000
8,377,936
11.104.000
crops and a year of. small crops in the United States c o t t o n ............... ....................’ ! ! ! ! ! ! ! ! ! ! 2’ i63!s79
1,913,879
The failure to comprehend this subject in all its bear
T ota l..................................................... 64,238,835
86^273^879
ings is frequently one of the causes for the free criti
It is true that only a small proportion of the oats
cisms made on American railroad management, for and corn raised ever find their way to market, but they
; there is little similarity between the business of a rail are used on the farms for fattening stock, and in one
road running from London to Edinburgh and a rail
way and another they contribute materially to the rail
road in this country between Chicago and Kansas City, road freights of their respective districts.
or even between Chicago and New York. Aside from
It is generally accepted in all discussions regard
the traffic in agricultural products, which depends of ing the effect of large crops that the market prices pre
course upon the size of crops and range of market
vailing have quite as much to do with bringing pros
prices, the other business of our railroads varies greatly perity to the farmer as the volume of crops raised, and
from year to year, and may be expected so to vary for
it is particularly in this respect that the year
many years to come. The recent criticisms in London
1891 is considered exceptionally favorable for those
on the Denver & Rio Grande Railroad management for
who have raised grain. It is not alone the transporta
passing the August dividend on the preferred stock
tion of the product on the railroads, but the
are a fair example of the comments to which we refer
general increase in cash resources, and the consequent
above, and which arise in large part from not fully
better feeling throughout the whole community. This
grasping the American railroad situation in respect to
leads to heavier purchases of goods, to return freights of
its inevitable fluctuations in traffic and earnings from
merchandise on the railroads, to increased passenger
year to year. The best that we can hope for our rail
traffic, and to a general stimulation of new enterprises
roads is that they will gradually reach a position where
on all sides. I f we take the current estimates of this
they can earn in good seasons so large a surplus above
year s crops and figure their values as compared
the amount required to pay fixed charges and divi
with last year's, on the
prices
prevailing
in
dends that in bad seasons they will surely earn enough
New York on the 22d of September, the causes
to pay the regular rate of dividend on the stock. This
for cheerfulness on the part of farmers will rSadily be
position has been reached by the Pennsylvania Rail
appreciated, while the depression of the cotton
road, and the most of its large annual surplus above
planters can be equally well understood. Of course it
the minimum 5 per cent dividend payment has been
goes without saying that no erop can be marketed at
e xpended in improving the property.
prices prevailing on any one day (though the turn in
V
INVESTORS’
prices may as well be in favor of the holder
as against him ), but the feeling of the day is
usually based
on the present status and out
look, and
this
being
the case the following
calculation of nominal values last year and this year
will be of interest.
ESTIMATRD VALUE OF CHOPS OH SEPTEMBER 22. 1890 AND 1891.
--------- 1890.------------*
m
eM
**............................ £ & '
* ro
Wheat...................." - S 7
Corn........................
Oats........................
Cotton....................
Total.......
fffr
107i
830.658,275
234,320,397
451,709,846
$1,926^930,223
'-----------1891,_ , "
$£
60
33%
8%
[ToL. LILI.
SUPPLEMENT.
r
d ® si
1.216,200,000
232,490,000
325,359,516
$2,351,549,515
Notwithstanding the large falling off in the nominal
value of the cotton crop, we have here a total esti
mated valuation on these four products taken to
gether of about $425,000,000 more than in beptembtr of last year. As a matter of fact, corn will prob
ably be marketed at an average price lower, and
cotton at an average p r i c e considerably higher, than
the prices above given, as this is partially mdioa e m
both cases by the prices of their distant futures, whi
of the principal, will gradually rise to 80 to 90 for four
per cents and 95 to 100 for five per cents. This view is
also strengthened by the increase in silver notes which is
steadily taking place in our currency at the rate of
about $4,500,000 per month.
What can be said of income bonds and preferred
stocks, which stand nearly on the same basis so far
- - •
*
— j - ? Each one
as concerns their claim for dividends o j j acb one of
these issues depends so exclusively on its own merits that
nothing can be said of them as a whole class, but it
can be asserted 'quite positively that many of them
have better dividend prospects for the next twelve
months than they have had for a long time previously.
To put the subject more practically before the S u p p l e
m e n t readers, the following list is made up of all the
principal income bonds and preferred stocks on the New
I York Stock Exchange list, either of those that have
never yet paid anything but now stand next for income
after first charges are paid, or of those that have already
paid something and have a prospect of continuance, or
an increase in their rate of payment.
INCOME BONDS AND PREFERRED STOCKS.
Bate o f
wheat and oats seem to be selling at pre J
age prices. Without follow ing too closely the figures
Int. or
P refee.
N ame—
5 g.
AtohisonTop. & Santa Fe, incom e..79,100,000
given above, the subject has been touched upon
6
Buffalo BocH. & Pittsb.. pief. stock. 6,000,000
5
sufficiently to suggest its possibilities to the reader, Chesapeake Sc Ohio, ls tp re f. stock..13,000,000
5
and if we should assume that the difference m profits Chicago & Erie, incomes....................10,000,000
5
Denver S Bio Grande, pref. stock ...23,650.000
c
to the farmers between the two years was no more than EastTenn. Va. & Ga., 1st pref. st’k -11.WO.000
5
8
$ 3 0 0 , 0 0 0 , 0 0 0 , this would still be a vast sum to be ib- Green Bay Win. & 8t. P., 2d M., ino. 3,781,000
5
tributed throughout the agricultural districts merely as Iowa Central, pref. stock......... c k ,...11,840,000i 6
Lake Erie S Western, pref. s to
c
an increase in valuations over those of the previous Mexican Central, 1st consol. income.15,861,0001 3 g.
3
2d consol, income.10,587,000i
Mo. Bans. & Texas, 2d M. incom e...20,000,000> 4 g.
The most obvious remark in regard to a fruitful N Y Chicago & St. Louis, ls tp r e f.. 5,000,0001 5
)
6
period is the fact that it is, after all, only a single year, N. Y. Lake Erie & West., pref. stock 8.536,000)
6
N Y Susq. & W.,pref. stock (cumul.) 8,000,000
)
6
and that the next one may show entirely different
pref- - t o * .........f/ iS fZ 3
8
results and wipe out the good effects. While this Northern Pacific, pref. stock.. . . . . - -36,652,61
Ohio S Miss., pref .stock(cumulative). 4,030,000
c
is true, it does not apply to our railroad situation Philadelphia Sc Beading 1st. pf. inc. 23,971,007
^.OOO.OOO
so broadly as might at first appear.
The rail Peoria & Eastern, 2d M.. incomes
Pitts. Cin. Chic. S St. L „ pref.stock.24 000,000
c
roads that are not paying interest on income Pittsburg * Western, pref. stock . . . . MOO,000
5
5,000,000
bonds
or
dividends
on
stock are frequent y Richmond & W. P. Ter., pref. stock.. 5,000,000
5
6,016,000
those that have experienced hard times and have per Bio Grande Western, pref. stock....... . 6,016,000
4g.
8,000,000
St. Louis & Southw., 2d M. incomes. 8,000,000
6
2,538,000
hapsbeen reorganized within the past year or two. These South Carolina, income bonds............. 2,538,000
.23,227,000
5 g.
companies after practicing strict economy for a tune
6
. 3,500,000
6
.25.667,000
are tided over and pushed forward by one or two sea
19,500,000 3 or 5s.
Amount
Outstanding.
sons of prosperity, so that they finally get beyond the
danger of another default and begin to reap the benefit
of the growing settlements and the industrial develop
ment along their respective lines.
Having stated briefly above the facts concerning the
main crops of the country, and considering also the
nothing since.
<
31
Bate P ries
Paid. Sep. 22
(1)2 65»«
801«.
..
59
..
37»«
(2)21« 50
52
(3)5
33%
..
..
321«
(*)4 68%
38
3
24
..
46%
C)3% 81
70%
(«)•35
55%
(7)3
(8)4 7 7 1«
6938
29
683i
41 %b.
58%1k
(“ )5
(12)2% 75
31%
27
34
(18)6
50
(14)5 B .34 ^
O
Tennessee 1st, pref. have been 4 per cent to
year * » » . ■ » « *
p «f- »»• * • » 4Md“ a’ « 1 per
w“ change of tone and temper already produced at the
(5) b 'y . 4 “ w e&™t.Toul»8 p a M It»«rst dividend—3 p e ,o a n t-to
stock exchanges in this and other cities, what may we
expect for each class of railroad securities ? W hat for
,6, Erie preferred „ . i d 6 per cent to 188». 1883 and 1884, but netting
the mortgage bonds? W hat for the income bonds?
(71 » i d . have M en 3 per e .a t
to 18 8 »
W hat for the preferred stocks ? It is unnecessary to
sneak of the high-priced railroad bonds, which sell <
8>
t fJ S S J illJ & i*
bends o f .
par v eln eof 83.347.000. representing dividend, earned prior t o
much above
par and in the worst
of times
lose only a small percentage of their value, with very
id) The^rat lneoinee reoeivol 5 p « oent to 1888end s . o f 1 per oent to
small dealings. The mortgage bonds to be considered
( l0 , The'flrst dividend nf 1 per c e n t o s , paid in May. 1881. and
»re those that have been of somewhat uncertain status,
the bonds of reorganized companies, or the lowest-class ,11, S S S S t t i* Point Terminal preferred t o » paid 5 per cent
bonds of older and stronger companies. It has been
well known that many of these bonds have been selling
this vear between 80 and 90 for the fives, and from 65 to
,18, £ ? £ £ £ $ " debentures received 6 per eent to 188« and « 1 »
80 for*the four per cents, while money on call was much
easier than it was in 1890.
Many of these securities
have already advanced slightly, but not at all in pro
portion to the advance in income bonds and stocks, and
there seems every probability t h a ^ ^ s e c ^ J ^
mortgage bonds, where no doubt is felt about the safety
partly in scrip as follow . ■ -P*; 8Cr, . . or 5 per eent if paid all in
interest has been paid all to scrip.
September, 18Ô1.J
RAILROAD
INDEX.
AND OTHER MAPS I N
SUPPLEMENT.
THE
IN D E X TO RAILROAD MORTGAGES.
Abstracts o f leading railroad mortgages published from tim e
The railroad maps in the Supplement and maps o f certain
to time m the Chronicle are indexed b elow :
coal companies’ properties may be referred to easily by the
V ol . P age ..
index below. These maps are prepared with much care in the
T40
®’e* Old mortgages.......
546
Chronicle office, and are intended to show as clearly as poss Atlantic pS p
n°c’ RR. 1st Guar. Trust M. 4s, due Jan. Î9 8 9 .. . . 49
r
198m; new incomes> due 1,1937 49
85T
Atlantic & Pac.
302ible the precise location o f the various railroads represented
dhb 6s, due July 1,1910
' aq
302
2d M. Western div. 6s, due Sept. 1,1907
****.......... . ‘ aq
ahd their strategic position in commanding business.
309
a
I? c-Sme
Western div. 6s, due Oct. 1 ,19ÏÔ"....................
Map .
Central div. 6s, due March i , 1922
_
P age. Balt&Ba? ? i ?+K' ls f
Alabama Great South. NeeE. Toan. Ya. & G a ............. .............. ¿___ 54 Balt. Belt 1st mort. 5s, due 1990........ .
Billtiraore & Ohio Consol. M. 5s, due Feb 1 1989
Atlantic & Pacific. See Atchison Topeta & Santa Fe...........8, 9 10 11 Bait. & Ohio Southwestern 1st M. 412s, due Jan. 1.Ï990.*.'” *
_2d^and 3d income mortgage, due Jan. 1. 1990
.......
Atchison Topeka & Santa F e.............................................. . ...8 9 1 0 n
Brooklyn Elevated—Un. El. 1st m ! 6s of 1887,’due 19 3 7
’ ’
’
Baltimore Belt.............................................
Baltimore & Ohio..................
a I
Baltimore & Ohio Southwestern See Baltimore & O hio.
15
Buffalo Rochester & Pittsburg..
18 Central RR. Co. of N.
J. Gen. M. 5s, due Juiv 1 1987 "
Canada Southern. See New York Central
- - 1 Central Pacific M. 6s.
due Oct. 1.1936
7 * ............
Contraila & Chester......................................
Chesapeake & Ohio 1st M. 6s, due Julv i'.ÏÔ'oa.......................
M. Peninsula ext. 6s, due Jan. 1,1911 .......................
Central RR. & Banking Co. of Georgia.................................... .......... 23
1st M. extensions, 6s, due June 1,1922
....................
Central New England & Western...... .
1st consol. M. 5s, due Mav 1.1939
.........................
21
1st consol, on Rich. & All., due 1989..................................
Central Pacific. See Southern Pacific
125
2d consol, on Rich. & All., due 1 9 8 9 .'."!............................
Central RR. of New Jersey..................
26 tih lP.il,fP t 'S 1* * % av»/l iriQ nnA __ __l due
4s,
__I g o » r ie 'to t a. 1 0 tocom e^Q
fl Ç
"
Charleston Cincinnati & Chicago
Cincinnati & Chicago................................................... ¡Z I C h ic a r wE ? goA Epiftn d +> Nebraska ext. ^ T __... gM1 ay" ' " " " .........
Charleston
ortg a g
u e^ s^27
tt
aq
49
to
5?
ki
aq
I
«
ak
aI
it
2%
at
it
£ï
ti
51
»
Saaua&nii*................... 5
1st M. Chic. & Milwaukee 7s, due J a n .l, 1 9 0 ^ '.
%
%
* ....... 3Q
Chicago Burlington & Quincy................ .........................
18+
* Mo- Rtver 5s, due July 1,1926
at
Chicago & Eastern Illinois...............
32
m' f e
f EacjS° 6s>due Jan. 1 ,1 9 1 0 ...." " I " " * " 45
Chicago Milwaukee & St. Paul..................
J,®¿.^1%
¿P a c ific Western 5s, due Jan. 1 .1 921
'I it
34
’
........ i t
Consol. Mort. 7s, due July l , 1905........
Chicago & Northwestern............................
36
r8J
& Great Southern 5s, due Jan i 1916
ak
Chicago Rock Island & Pacific..................
1st M. Dubuque 6s, due July 1, 1920 .
’
— ft
38
Cincinnati Hamilton & Dayton..............
if E
-arf ? & Southern 6s, due Jan. 1 ,1 92 4 .................. a ?
40
1ft M. Hastings & Dakota exten. 7s, due Jan. 1916! ....... a t
Cleveland & Canton..........................
42
i owa & Dakota 7s, due July 1,1908
....... a t
Cleveland Cincinnati Chicago & St. Louis
j f t M. Lacrosse & Davenport 5s, due July 1,1 9 1 9 .......... i t
44
Colorado Fuel.......... .......................
.......... a t
1ft M. Mineral Point 5s, due July 1 ,1 9 1 0 .........
145
i f t M. River division 7s, due Jan. 1,1902........
' " “ it
Colorado Midland. See Atchison Topeka & Santa Fe
10
1st M. Southern Minn. 6s, due Jan 1 1910 .................... i t
Columbus Hocking Valley & Toledo.
....................... i t
Terminal Mort. 5s, due July 1.19147
46
Delaware & Hudson Canal Co.’s Lines
l®t M. Western Union 6s, due July 1.' 1 9 0 9 ....................... i t
48
1ft M. Wisconsin & Minn. 5s, due July l , 1921.'.............. I t
Delaware Lackawanna & Western....
50
1st M. Wisconsin Valley 6s, due Julv 1 1920
*
it
Denver & Rio Grande...........................
_ . Geueral M. 4s of 1889. due 1989. y. ’
.................... i t
51
Dubuque & Sioux City. Nee Illinois Central....
.......... «2
N o r t h e r n Pacific 1st mort. 5s, due April *1/1946'' 52
East Tennessee Virginia & Georgia
....................................
Elgin Joliet & Eastern.................................... S i S S f w .................. 56
i i «
r 1’ 19«
1?
Evansville & Terre Haute..........................
........ ... t® I
1st M. St. Joseph & Iowa 6s, due July i A ’935 ............... |Z
Flint &Pere M arquette..............
....................... ...
riuHu1 ^
'
F
ao; 6 ’ due Oct. 1,1 9 3 4 ..!!!!.'!....... 47
/
Galveston Harrisburg & San Antonio; ¿ee Southern Pacific..!! .'! .!! 125
||
Grand Rapids & Indiana. Nee Pennsylvania RR
Colorado Midland 1st M. 6s, due June 1,1936
’
* tt
Great Northern....
.................................. 105 L . Consol mort. 4s, due Feb. 1,1940..
......................... i t
Houston & Texas Central. Nee'^outhern P a c i f i c ' . ' . : : : ; ; ' ' .......| eYmpr5®meG
n?Md 5s^1ue0J
u
n
e & W W - Z
iZ
....................xf \ Denyer Tramway consol, mort. 6s, due Jam l ! 1910.............. 50
Illinois Central. ....................................... ...................
Iow a Central..........................
....................... 64
SoubD Shore & At. 1st M. 5s, due Jan. 1,1937............ t ?
K anaw h a* Michigan.
............||
Lake Erie & Western...................................
129 Georgia Car & North’n lit m ! f t due J^ly u ' i 929
921.......... i t
^ g h v S l t MiCMganS0Utlleri1- ^
^
^
£
3
92 j
lS S sl^ u e^ iosl?^ ^.0.^.^999’ ' ' * ' ' '
Louisville Evansville & St. '^'uis'.' ' n^ Evans vine & Terre H s m / ' ‘ I 7 Kentucky S f i l l S M ^ d u f J u l y 1? I9§“ < . i ’ 1927— ‘
?
Louisville & Nashville.......
u a u te... 57 KingsJDpunty Elev. 1st M. 5s, due Jan. i . 1 9 2 5 .......................
L ou isville"
oq I Lake Erie A WAB*»Tm 1o+ t t
. u
...................
.
Louisville
.
%
304
309
205.
804
245
249
582
584
9 72
242
571
402
241
54
55
55
14T
144
144
441
911
142
85
212
144
145
85
212
144
212
144
114
114
145
85
114
212
114
145
145
839
465
469
262
269
261
261
574
42
540
572
222
220
354
274
82
440
230
242
582
575
372
23T
4®
it
4,9
51
114
49
209
51
613
51
243
49
Mexican Central........................
177
47
142
Mexican National...............................
45
243
Michigan Central. See New York Central.
• 52
353
51
495
Milwaukee Lake Shore & Western
51
4 95
47
28T
Minneapolis St. Paul & S. Bte.
'X ........................Í Í 2 Mobile Î
Ö « ^ ? - , 1 1937'!
45
274
47
83
45
541
Mobile & Ohio
V V gotario & Western Cons. 1st M. 5s, due June 1 , 1939* 49
238
& West. 1st mort. 5s, due Aug. 1 ,1940
Monterey & Mexican Gulf.......r " " " " " " ' .....................
87
52
84
Norfolk & Western 1st M. Clinch Val. 5s, due June 1 , 1957* 45
45
541
Nashville Chattanooga & St. Louis
88
f e f e ! L e^ a f T rtÄ
,r
58' due Jan. 1,1990.......... ! 50
50
New York Central & Hudson R iv er........................................................ 9<
>
209
47
22
New York Chicago &,St. Louis See NT«wvAiv
i ..................... 92
----- —A00 x L j-fan.. X/A.i
u,
45
New York Ontario & Western
York Central..................... 92
273
mortgage of 1890, due 1989.
50
279
45
212
49
Northern Pacific... ................................................................................. 99
249
51
..................
.102
243
.134
51
242
51
243
47
201
51
242
51
247
46
67947 141-2
45
439
45
275
45
Kiohmond & A csti Point Torminfll
iV
5 75
49
115
Rio Grande Wester™'
^ v e r A R i o G r a n d e .'::!!!!!!!!!;;;;;;;;;1^ |
49
23T
45
342
Ä ? OajlÇfirardeau & Fort Smith! .*.* .* ! ! ..................................... „ Pacific Extension tot m oiîvfs.’ due .u ïto V iqaq7...................... 4o
.* .’
52
82372
241
242'
502
82
82
242"
402
xrTrzilt *¿-21 a v01 “
c °u- IV- os, aue Dec. 1,:
1
244
Virginia Midland general M. 5s, due May 1,1936
av
23
Wabash 1st M. 5s, due May 1,1939.......
.................. JA
Union Pacific Denver & Giiif.................................*................................. 134
279
2d M. 5s, due Feb. 1,1 93 9 ........
.............................. fq
272
W afash.MÍdIand. . See_Etehmoüd & W estPoint T¿rininal!! ! ! ! ! *.!!!.* ! .*114
272
109
119
..................... i|- 142 West Shore 1st M. 4s of 1889, due 2 3 6 l !....'.*.**!*.*.".*..... ........ 40
176
INTESTOKS’
4
[VOL. LUI.
SUPPLEMENT,
,
RAILROADS— CONSOLIDA TED
IN D EX
. „ . „ - . „ i p , n o t p-iven in the S u p p l e m e n t tables in their alphabetical order will be found in the Index below.
The names o
their original title by foreclosure or consolidation, while others have been practically merged y
^ „ ^ ^ c h r o m e S f t t e o l d n a l e . o f such companies « given b e W , together with the title o f the present
organization under which their securities may be found.
w
NAME.
WILL BE FOUND UNDER—
name.
.
Akron & Chicago Junction.............. EaatTenn. Virginia & Georgia.
Alabama Centrai..... - - - ..........- - Norfolk & southern.
.........: : : : p S M ? r “
is » t» w n & A 8
htol)ula.
Atchison & Pike s u e a i - ..........
- r„w YorkPennsvlvama & Ohio
N
Atlantic & Great Western— ,........ .Savannah Western.& Western
........ Trim-id» A. Florida
,*
Atlantic & Gulf-,
Atlantic & ^orwwesx;........
Atchison System.
* » * & w « * « 0® * « .
j ü gS S, i
.. .Western Maryland.
S g S ì
f
g
j
a
a
WILL BE FOUND UNDER—
Concord
....................... Concord & Montreal.
Connecticut Western........................ Hartford & Connecticut Western.
Connotton Valley.............................. Cleveland & Canton.
Consolidated Vermont......................Central of Vermont.
<
Covington & Lexington.. ................Kentucky Central.
Covington & Macon.......................... Macon & Northern.
Current Eiver. . . . . f .".".". -. - - - - •- . . . . . . K ansas City Fort Scott & Memphis.
lïnkota rpintrnl
....................Chicago & Northwestern.
Dakota & Great"Southern................ Chicago m iwaukee * St-PauL
Dallas & W aco................................... Missouri Kansas & Texas.
Danville & Grape Creek... ............... Chicago &
t
Dayton Fort Wayne & Chicago. . . . .Cincinnati Dayton & Ironton.
Delano L a n d ....:.................. - ...........^ g h V a E e y .
UpiivftT Piiifìiflfì
..................... .Union Pftoiiic.
...... Í S Í S í r 1
**“
Detroit & Bay City.. . . - . .. . - - - -.......Ä f L S Ä n
Detroit Mackinac & Marquette......Duluth South Shore & Atlantic.
Detroit ^ Milwaukee
^ ............. Detroit Grand Haven & Milwaukee.
Detroit Monroe &Tblëd‘ô ‘ ’ .............. Lake Shore & Michigan Southern.
r i f f i
.........Nashville Chattanooga & St. Louis.
S K
m ä v » . : : : : : : : : : ...........Ä
Ä
Duluth Short Line............................ St- p aul & Dulutn.
S S S t
IS a S S I *
.............. K * ! S r “ I oniS
^ ar Æ
t u r S - ' ' '::::::::.'.L a S s h o r e & Michigan Southern.
Battle Creek & Sturgis y Michigan Central.
_ .
Bay City & Battle Greek.............
a
chic. & St. Louis.
Bellefontame & indiana....................st Louis'jtiten & Terre Haute.
Belleville & Carondelet.
............. •.. oujg
& Terre Haute.
Belleville & Eldorado. ——
.......... • ^ Alton & Terre Haute.
Belleville & Southern Illinois.......... Pennsylvania & Northwestern.
Bell’ s Gap. - -•- -.......... .................... Chicago & Northwestern.
Beloit & M a d is o n .-- ..................... unmoWatertown & Ogdenshurg.
Black Eiver ^ ^ o rrlstown............. Kansas City Memp. & Birmingham.
Birmingham Equipment................ Delaware & Hudson Canal.
Bluff K t a t improvement.......... Z Z S S S S & S S i & T e r »
East Line & Red River.............. — -Missouri Kansas & Texas.
Eastern of Massachusetts............... W j f A f A Man
Eastern of Minnesota.......................P a u l J B u . * Man.
Easton & Amb9y ........................ - h VaUey’
Elmira State L in e ............. .
ÿ ork Lake Erie & Western.
Esc^inâba & Lakê süpêriôr . . " " "...
..
F S v X & S w f o X 1^^^^
^
Evansville Hend6Mon&NashviRe. L o u is v ilte ^ N a s h v ¿ e .^
Evansville R o ® k S & Eastern.'... .Louisville Evansville & St. Louis.
r Ä
Brunswick & CbiRicothe..................savannah Florida & Western.
Brunswick^* Western.......................Bake Shore & Michigan Southern.
Buffalo & E rie.. . . . . .
’ Western New York & Pennsylvania
Buffalo New York & P h U ^ ^ W a .. westM-n r«
Bapids & North.
Burlington
& M h m .- g g jg * B u r lin g t o n & Quincy.
Cairo arkanea» * T e la » .......— ;
;
.
$
“
........... 8 aL
t-Pu
I S S f e s i B
a H
S » t ^
Grand Haven ^^.^^- &
Nochern.
I S S Rapids N e w a y l?& L. W r e  ? f o & Æ ^ i e b i g a n .
Grand River V alley....^ .. . . . . . . . . . . . 0reei®
Bav Winona & St. Paul.
S X Greenvüle S “ S So- ^ ^ Ä
S S iïS t U
S
b i ^
GreenviRe.
j
Hannibal & Central Missouri.. . . . . -Missouri Kansas^* Texas.
Hanover «^Gettysburg..................... New York New Haven & Hartford.
g f f i S aA o m b o v " ■ .‘.■.'.'.'.■.'"'."'.---United New Jersey.
fA
Harlem & Eortchester.......................Chicago Milwaukee & St. Paul.
_
v A m boy........
Hastings & Dakota.. . . . . - - - - .......... Northern Pacific.
Camden & AjnDoy • • ■ •
■•
•
PaTifldian "Pacific.
Canada Central
Helena &
£0 .............1'.Louisville & NashviRe.
Cape Girardeau Southw
Henderson Bridge Co...........
Maine Central.
Carbondale & Shawneet
H ereford.......- -- -- - -- - -- .................... FRnt & Pere Marquette.
Cedar Rapids & Clinton . . . . - - - - CedarRapids& North’n. Holly Wavne& M on roe......
" New Haven & Northampton
Holyoke & Westfield.^. . - ............... Chicago Burlington & Quincy.
o S ? CaiiËeRton.'Louisv. Evansv. & St. Louis Consol.
&& Loui8-
s s s w
t o
§
a s s
b s
« .............
*
^
ts is a fs w i,
Caicago & Michiga
,
ot iw i» u „v o .o .~
Chicago Milwaukee & N. w ............. Chicago & Northwestern.
CMcafo & North Michigan; . . . . . . I..
Paul,
Chicafo St. Louis & Ñew O r j e a n s . . Terre Haute.
C dcago St. Loms & P ^ u c a h .. . . . . . .Bt. Lo s
innati Chicago & St. L
Chicago St. Louis & M n n
. Chicago St. Paul Minn. & Omaha.
Chicago St. Paul & Mton.
Chicago Eock Island & Pacific.
CWcago & Southwestern..................minofs Central.
Chicago & Bpnn^ieiu..........
& Northwestern.
f f i l l o w S Ä ' & - V t o t t \ V :3 $ S ^ O e M C o . .
ChippewaFaUs&V^estern........... “ Baltimore & OI1 Southwestern.
Í0
ï
Terre Haute & Peoria.
iRinois Midland............ '■"■■'■■■"'LouisviRe Evansv. & St. L. Consol
IRinois &St- L9UIS. . . ...
j " " " 'P e o r i a , & Eastern.
Indiana Bioommgton & Wester .. - -^®rre Haute & Indianapolis.
Indiana & Lake Michig . . - - -...... Cleveland Cin. Chic. & St. Louis.
Indianapohs Çin & Laïayette.......- -^ fe; e
eland Cin. Chic. & St Louis.
Indianapolis & Cincinnati.. . . . . . ^ Id ia lia p olis Decatur & Western.
Indianapolis Decatm & Sprmgfleia..muvai a P cin CM(J & gt Louis.
d
Indianapolis & St. Loms........T>fttroit Lansing & Northern.
Ionia & Lansing - ............................Burlington Cedar Rapids & North n.
Iowa City & Western........................ Chicago Milwaukee & St. Paul.
Iowa & Dakota... . - - - - - ........... ..Dubuque & Sioux City.
Iowa FaRs & Sioux c ity ---.-Chicago & Northwestern.
Iowa M idland..................." " ’ "’ ’ Chicago Milwaukee & St. Paul.
jacffHon Lansing
............^ ì c a f o ’peorìa & Bt. Louis.
Jacksonville Southeastern ^ ¿ a l o Peoria & St. Loms.
; S Ä f f l Ä E s » s r iok &* r
Maryland & Virginia.
Kalamazoo Allegan & G il Eaplds.lLateBKore ^ m o M g a n southern.
KaTainazoo & South Haven........"Lak<fShore X Michigan Southern.
Kalamazoo & White Pigeon........
Kanawha & Michigan.
Kanawha & Ohio —
............. Missouri Pacific.
__
8 nejnnatj ^^^¿iana^ Í®dimiápolis. “ Jaad (^m ^hic?& I^^Louis.
Kansas
..........'.’ .Kansas City Wyandotte & N. W.
Hannibal & St. Joseph.
s is : a
& it . » . T Kansas City & Beatrice. — .. .
Cincinnati Lafayette & Clucag . . --C1^ ®
Cincinnati Chicago & St. L. Kansas City & C am erom .^.- -.......Kansas City Fort Scott & Memphis.
Cincinnati Richmond & Chicago .
cin . ch ic. & 8t. Louis.
Kansas City F o r t8co^
Bridge Kansas City Fort Scott & Memphis.
Cincinnati Sandusky & Cleveland. -Ctevemn^ New 0 rleans& Tex. Pac. Kansas City & Memphis Ry; B.n .d g 1 Joseph i Grand Island.
Cincinnati S o u ttm 1...- - •j v . C i n c i n n a t i Jackson & Mackinaw.
Kansas City St. Louis &
' Kansas°(hty Fo?t'Scott & Memphis.
Cincinnati Van Wert & Jmcmgau.
eveland cin. Chic. & St. Louis.
Kansas City Southeastern * Memp.Kansa
^y g _ gt L & gan Fran.
Cincinnati Wabash &Mictega & Ohio Southwestern.
Kansas City & S o u t h w e s t e r n .^ - KaC
n8a8 City Fort Scott & Memphis.
Cincinnati W a sh .* Bam m oie........ Richmond & Danvüle.
Kansas City S p r i n g f i e l d . * J ^ P ™ X K o n Topeka & Santa Fe.
Clarksville & Ngrth Carolina........... p^nnsvlvania & Northwestern.
KansasCity Topeka & Western.......Kansas City Fort Scott & Memphis.
Clearfield& JeffersoiL-^-- —- — .......nicveland Cin. Chic. & St. Louis.
T
Kansas Equipment........................... Atchison Sys.—St. L. & San Fran.^
Cleveland
C^Y^lflware ' Cleveland Akron & Columbus.
Kansas Midland.... - - - - - - — - - • - - " ‘ Nansas City Fort Scott & Memphis.
Cleveland Mt. Vernon & I>elaw
. -c
ghore & Michigan Southern
Kansas & Missouri... —
T ni onPaci f i c.
j
Cleveland Pamesvüle &
&A g g g - ’^ X d Lorain & WheeUng.
Clevel. Tuscarawas V. & Wheeling.
thern Paciflo.
Kansas Pacific——
............. Towa Central.
, _
Coeur d’Alene.............. ..................... Union Pacific Denver & Gulf.
Colorado Central........- ......................Ree Atchison “ System.”
Colorado Midland ......................
Charlotte Columbia & Augusta.
KnoxvR e
,t T
Lackawannna & Southwestern.
; Columbia & Augusta..........................international & Great Northern.^
Lackawanna & K t t s b m g - - . .......Delaware & Hudson.
Colorado Bridge
-- -•v ; .......Pittsburg Cin. Chicago & St. Louis.
Lackawanna & Su^uehaima Western.
ï Col. Chicago & Indiana Central.......8hawnee S Hocking
Lafayette Bloomington & Mancie...naner^ & Columl)iai
.; .
Columbus & Eastern.
............Columbus Hocking V alley & Toledo. Lancaster & Reading........................ Pittsburg Youngstown & Ashtabula.
■ Columbus & Hocking Valley.. . . . - - - ^ " “ . Cincinnati Chic. & St. Loms.
L a w r e n c e - - - .- - — --- - ................... Maine Central.
.
Columbus & Indianapolis Central...
^ & western.
, Leeds & Farmington. - ...............- - ^
Coal & Navigation.
Columbus & .. ..................................... ..
Valley & Toledo.
Lehigh & Susquehanna........................
^
Columbus & Toledo............................Savannah & western.
Columbus & Western........................savanna
September, 1891.]
INVESTORS*
name .
SUPPLEMENT.
5
w il l be pound under —
HAMB.
.
WILL BE FOUND UNDER—
Leroy & Caney Valley..................... Missouri Pacifie.
Ravenswood Spencer & Glenville..Ohio River
Lincoln & Northwestern....................Chicago Burlington & Quincy.
Lincoln Park & Charlotte................ Buffalo Rochester & Pittsburg
Little Rock Junction........................ Missouri Pacific.
Little Rock & Fort Smith..................Missouri Pacific.
Mohmond & Alieghany. . . . . .V . Chesapeake &°OhioC0t* & Memphi8~
.
Long Branch & Sea Shore.................Central New Jersey.
Long Dock Company.......................New York Lake Erie & Western
m nd vr°r k & Chesapeake. Richmond & Danviile
<+
Long Island City & Flushing........... Long Island.
Rochester & P i t S i v ° & Laoka- ‘ *- ^ a w a n n a & Southwestern.
Louisiana & Missouri River............. Chicago < Alton.
fe
Rome & Carrollton g .......................Ro°bester & Pittsburg.
Louisville Cincinnati & Lexington..Louisville & Nashville.
e
. .
............................. Chattanooga Rome & Columbus.
Louisville Hardinsburg& Western..Louisville St. Louis & Texas.
S a v fS ^ 0
WA^1^ erVille........ ....... Northern California.
A
a
Louisville & St. Louis........................ Chicago Peoria & St. Louis.
Lowell & Lawrence........................... Boston & Lowell.
f t Jo 3
&
M acon & Augustal............................Georgia RR. & Banking Co
Mahoning Coal............. : .................... Lake Shoi#& Michigan Southern
ManitobaSouthwest’nColonization.Canadian Pacific.
St i K S s f i g e T i TexaW" ” V .'ishT ouK ou th w estern .
Marietta Columbus & Northern.......Toledo & Ohio Central Extension
St.' Louis l chfca*oTUnnel................ Terminal Association o f St. Louis.
Marietta Mineral............................... Toledo & Ohio Central Extension'
Maple River.........................................Chicago & Northwestern.
Marquette Hougton & Ontonagon...Duluth South Shore & Atlantic
St. Louis Iron Mount’n & Southern-Missouri Pacific Svstem
Marquette & Western........................ Diiluth South Shore A Atlantic
St. Louis Jacksonville & Chicago... .Chicago & Alton 7
’
Maryland Central........................... .Baltimore & Lehigh.
St. Louis Kansas City & Northern... Wabash,
Massachusetts Central..........
Central Massachusetts.
s i’
■
AtGh- System.St. Louis & San Francisco.
Massawippi.............................. . ....... Connecticut & Passumpsic.
Maysville & Lexington..................... Kentucky Central.
anoisco.
McKeesport & Bellevernon............ Pittsb.McKeesport&Youghio"heuv
:.) St. L. & S. Fran..
Memphis Clarksville & Louis ville... Louis ville & Nashville.
■ J
Memphis Kansas & Colorado.......... Kansas City Fort Scott & Memnliis
Memphis & Ohio............................... Louisville & Nashville
St. L. Wichita & West * +A
i>' ' V : - • «• ^ouis Alton & Terre Haute.
®
Memphis Paducah & Northern........ Chesapeake Ohio & Southwestern
St Paul & Chicao-n
System . St. Louis & San Francisco.
Menominee River............................. Chicago & Northwestern
Metropolitan Elevated....................ManhattanElevated.
Michigan Air Line............................. Michigan Central.
Michigan & Ohio ..........................-Cincinnati Jackson & Mackinaw.
st. Paul & sioux
a* Paul
” U8n ^ . itoba- ■
&
Chic. St. ^ W Minn. & Omaha.
Midland of New Jersey....................New York Susquehanna & Western. St. Pa*ul Stillwater df T. F.
: . ..i .Chic. St. Paul Minn. & Omaha.
Milwaukee & Madison......................Chicago & Northwestern
Milwaukee & Northern.....................Chicago Milwaukee & S t’ Paul
& Cleveland*
Minneapolis & Duluth...................... Minneapolis & St Louis
SatìtSt. M arT A ^R Á /riw .:;^--.......^ « ^ ( Ç a l i f o r u i a ) .
Minneapolis & Pacific....................... Minneap. St. P. & Sault Ste Marie
Mmneap. Sault Ste. Mane & Atl’tic.Minneap. St. P. & Sault Ste' Marie
S a v ^ ^ h ^ l b a ^ ^ ^ i n i i 'I" ^
8t- £ N a p o l i s & Omaha.
Minneapolis Union...........................St. Paul Minneapolis & M a n S
Savannah & C h Ä t o n .................. 8ava? Ilah Florida & Western.
Minnesota Central..... ....................Chicago Milwaukee & St. Paul
s Schenectady ife Daanésl _ ............. ...
Minnesota & Northwestern...............Chicago St. Paul & Kansas CitV
Schuylkill River East Side................ Baltimore A Ohio.
Minnesota St. Croix & Wisconsin.. .Wisconsin Central Company
Minnesota Valley...............................Chicago & Northwestern?
Scioto Valley & New England..........Norfolk & Western!
Missisquoi V alley...............................Central Vermont
Mississippi River Bridge...................Chicago & Alton.
Seattle Valley & Southern'. ! ! ! ! ! ! ! ! ! ; M i S r i Pacific“ 611*'
Mississippi & Tennessee....................Illinois Central
Missouri Valley & Blair RR. Bridge. Chicago & Northwestern
8 ® ï t i S S a C S E E ............. geiumbus S h a iie e & Hooking.
Missouri & Western............................St. Louis & San Francisco
Monongahela River...........................Baltimore & Ohio
Sioux Citv & Pacific1
........................ Kansas Cit^Fort Scott & Memphis»
...... St. Paul Minneap¿lis & Manitoba
Montana Central
Muskegon Grand Rapids & Indiana.Grand Rapids & Indiana.
Nashua & L o w ell............................ Boston & Lowell.
w ü f Í Rochester......................... Worcester Nashua & Rochester.
8odu sB . 7 A Southern......................Ontario.
Natchez Jackson & Columbus..........Louisville New Orleans & Texas
N ebraska...... ................ ...... . — ...Chicago Burlington & Quincv
South ôeorgià & Florida!. ! ! !. !.' . . ! .Savanna ' ^ peka &-8anta FeNebraska & Western. .................... Paciflo Short Line.
7
Louis & San Francisco.
New Bedford Railroad..................... Old Colony
:i r •k!-"-»..................! Norfolk & Western.
New York.
............. New York Lake Erie & Western.
southeaeteru & s t
 sS w m e
New Castle & Shenango Valley........ New York Pennsylvania & Ohio
New England Equipment................ .New York & New England
I
New Jersey Midland......................... New York Susquehanna & Western
i r r ;:::::ía = s
î a
il:
New Jersey Southern........................Central of New Jersey
western- i s S S
New Mexico & Southern Pacific.......Atchison Topeka & Santa F«
New Orleans & Gulf ..................... .New O rlea T & Lutlfern F6'
New Orleans A Mobile.......................Louisville & Nashville.
New Orleans Pacific......................... Texas & Pacific.
Newport & Richford......................... Connecticut & Passumpsic
• s a s . ® . g w ............s i s s s f e
’ ' ' “ 1"
:
Newtown & Flushing........ V............. Long Island.
P
New York Elevated........................... ManTiattan Elevated.
I l S t  r#aîou»'eh” . e
m
s lX r a P a  “
" 8’
New York & Erie..................... . ....... New York T.akA p ÏÏL p.
New York & Long Branch................ Central of Nev? Jersey Weste nNew York & Manhattan Beach........ N. Y. Brooklyn & Manhat BAa«h
l Ä
^
ptO TO polü;;::::' - " ; ' 4 =
New York & Oswego Midland..........New York Ontorio^ & Ä ' e ? n
American Sugar Refining
s u lh n r v ^ PviÂ................ t............... American Sugar ReflrJ
—
New York & Rockaway...............
Lon« Island
•
western.
Tarkio VaU^l8 & Labe Suporior.......St- Raul & Duluth.
“
“
" S
...............................Norfolk & Southern.
Ä
................................ Canadiant*tmi
North Wisconsin........................
Chic fit Pacific.
» «
.
Northern Pacific & Montana....... ! ! ! Northern Pacific
& 0mallaNorthwest & Florida
...................Alabama Mhlland
Northwestern Grand Trunk............Chicago & Granii
it,v
Northwestern North Carolina......... Richmond & D anvU le^'
Northwestern Union..........................Chicago & Northwestern
Northwest Virginia........................... Baltimore & Ohio?
Ta1 /1i
û /
J ’ *; ’
I
............ .Mexican Nation^?naPOllS’
» 0
Ann Arbor & C^diii^:'.: ^"'Toledo* A m Arbor & North Mich
ToIaU P nQ P ri?or & Grand Trunk..Toledo Ann Arbor & North Mich
a
j
g
j
a
w
a
a
t
a
i
s
i
a
a
'
Timnei RR. of St. Louis...................Terminal Ass’n of St. Louis (Miseel.>
Ohio Central8!1 !'.'.'.'.'.'.'.'." ü ! " ' ^ ! Tofedo^A'(Ä to^ en tía?°' ° fGeorgia'
?1
Union lleva ted0* ^ a tta n o o g a !.'.'.'.Chattanooga1
Union.
Ohio A Northwestern................
Ohio & M S & ^ estern....................Peoria & Eastern. d ,,+1 c T .- . .
Cincinnati P e r io
,
T
Ohio & West Virginia......................'.C¿1. H o c k i n ^ t w ^ ^ Virginia.
Omaha & Southwestern..............
Chicago Buriin^tÍ^f * Toledo.
CW
Cag° & 8t‘ L’
Ontario & Ouebec.................. ....... ..'. Ca?iac§an P a r ^
& Qumcyi S t * a t »
Oregon Shm-t LincrÍa' ' ' ................... Virginia Midland.
.........................Rome Watertown & Ogdensburg.
Ottawa Oswego & F¿x River'. !.'.' ! ! ! ! Chifa
v S ? Q Va‘
* ^WMt . ' . Mi SS1 i a T m<’ * s,: Lon‘ *S
| f o k B T u | T S S a n EUSh? l6 ---2 ^ ^
^^
V ir^ n ia S Tennessee............
Paris & Decatur.............. “ .............. Te?re^& ° Ä h i ° Utllve8teni1
Pekin Lincoln & Decatur.
.......... Peoria D p ^ a W ^ in a'
m
Peninsular (Mich). . . . .
.......... rm ” a P f.ea^ÏÏ * Evansville.
* *•Y- oa¿«::::v;;:£lhSrvtnN
evrt^
Philadelphia Marlton & Medford" " ' Camden â,
Pleasant Hill & De Soto.
»
a
s
-
"I”
a *m-
a h « uh »
* Peaclx B°ttom ......................Baltimore & Lehigh.
a ^ S e ^ n ^
& ' * * * Central.
Warw SlfV alley1 1 ........................... M ^ g h V u ' d ^ 1 p f Pennaylvailia
11
^
W alhteltoS ¿ i ai v ^ F * Gt'So-VtegfiSa& i n d . BiVer'
S
W a tS n A
0^
western...........Richmond & DanvUle.
Kansas Cif^runton
.... ;;s E “o S I F ~
p I Ä S Ä J , CoIm“ tto'‘ t.......... S ï ï i ™ » ‘ " i w
& Western.
P ^ b lo ^ A r k a n ,^
S Ä S f
fm^^^SBiSSSSS
w
W
Wichita * Wn«t«?,
m ....................Topeka A Santa FA
STOCK AND BOND TABLES
NOTES.
These tables are expressly intended to be used in connection with the information concerning investment matters published from week
to J S t a d S o S S T the conclusion of the statement for each company, therefore, is furnished a complete index of all items per
taining to that company published In the Chronicle within the last eighteen months. Annual reports are in black-faced figures.
In case any company cannot be found in its regular alphabetical order (the railroads being arranged together first, and i^soeUaneous
companies following), reference should be made to the index on a preceding page, as many roads having been leased or consolidated, their
securities are placed under the name of the controlling company.
.
,.*»,1
The dividends appearing in the remarks are those actually paid in the oourse of the ca len ^ r year named, or such as have been declared
and will be paid in It. In many instances these dividends are paid in part out of the earnings of the preceding year, and hence it is that
they often differ from the dividends given in connection with the earnings.
The following will give explanations of each of the columns of the tables b elow :
... . .
Description -Abbreviations used are: M. for “ m ortgage;” gen. M. for “ general m ortgage;” con. M. or oonsol. M. for consolidated mort
g a g e ;” inc.M . for “ income m ortgage;” g. for “ g o ld ;” guar, for “ guaranteed; ” cum. for “ cum ulative;” non-cum. for non-cumulat i v e ; ” oonv. for “ convertible;” pref. for “ preferred;” s. f. for “ sinking fu n d ;” 1 gr. for “ land grant; r. for registered;
.
o. for
“ cou p on ;” c.* for “ coupon but may be registered as to principal;” o. & r. for “ coupon and registered; br. for branoh; end. for
“ endorsed-;” “ red.” for redeemable, meaning subject to call before maturity (so “ red. at 100” means subject to call at par); d m
or “ drawn” for drawn by lot from time to time and paid from the sinking fund.
Date o f Bonds.—The date of issue on the face of the bonds is referred to in this column.
■tu i f
riipo
—Onnosite stocks, this means the miles of road ow ned; opposite bonds, the miles covered by the mortgage.
m et o/ pa r Faiue.-These figures, unless otherwise marked, are dollars, showing the denominations or par value. The figures 100, &c., signify
Bate p lr °o Z t^ T h e interest per annum is given for bonds, but the per cent of last dividend forstock s; g. means gol d5 X’
.
' ru anfo°ctoberP:
When Payable. - J . & J. stands for January and July; F. & A., February and August; M. & 8., March and September, A. &
tO,.AprUland-October *
M. &N., May and November; J. & D., June and December; Q .-J ., quarterly from January; Q .-F ., quarterly from February, Q. M .f
last d ivid en d.-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.
.
■
Subscribers w i ll confer a great fa v or by g iv in g Im m ediate notice o f any error discovered In these T a b les.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable^and by Stocks—Last
Par
of
of
For explanation of column headings, &c., see notes
Dividend.
whom.
Road. Bonds Value. Outstanding Cent. Payable
above.
Alabama Great Southern^-1st mortgage, gold ....e 290
Gen. M. sterl. *1,160,000, red. at 110 June 1, ’98 .c 290
Debentures, gold............................. .
Certificates (issued by English Co.) sinking fund..
Alabama Midland—IstM. ($16,000 p. m.),gold........c 175
34
1st M., gold, Sprague to Luveme, $15,000 p. m .. c
Ala. N. O. Tex. &Pac. June—“ A.” deb., see rem ks.c*
“ B” deben., ino.,redeemable after 1910 at 115.c
“ C” debentures, income, subject to call at 100...
143
Alabama & Vicksburg—Stock............ ...................
143
Vicksburg & Mer. 1st mort., stamped. See rem..
143
Consolidated 1st mortgage, gold ($1,800,000)».
2dm ort.,inc. for 5 years, non-cum., g. ($700,000) 143
Alb.Fla.dN .—lstM .,lstsec.N.Div,g,$12,000p.m.c*
Albany < Susq.—Stock,7 p. c. rentalD. & H. Canal.
6
Albany City loan (sinking fund, 1 per ct. yearly).. 142
Consol. M. (guar. D. & H. endorsed on bonds)..c*&r 142
42
Allegheny dt K insua—1st M., for $500,000, gold..o*
132
Allegheny Valley—General mortgage (Riv. Div.). .0
110
lBt mort., Eastern Extern, guar, by Penn. R R ..
110
2d mort., Eastern ext., to State Pa.......................
259
Funding income bonds, with traffic guarantee...
1878 $1,000
*100
1888
*100
1886
1888 Various.
1888 $1,000
1,000
1890
*100
1890
*100
1890
*100
1890
100
1,000
1881
1889 100 &c.
1889 100 &c.
1,000
1890
100
1,000
1865
1,000
1876
1,000
1890
1,000
1866
1,000
1870
1870 100,000
1874 100 &c.
A lab am a Oreat Sou th ern .—("Bee Map Bast Tennessee Virginia <
&
Georgia).—Owns Wauhatchie, Tenn., to Meridian, Miss., 290 m iles; leases
Wauhatohie to Chattanooga, 5 miles; total operated, 295 miles. The
Alabama & Chattanooga Railroad made default January 1,1871, and
road was sold under foreclosure January 22, 1877. Present oompany
organized Nov. 30, 1877. It is controlled by an English company of
the same title, which owns all the stock of the American company, and
is itself controlled by the East Tennessee Virginia & Georgia Rail
road Company. The English company has *134,000 debentures ex
changeable for general mortgage bonds and capital stock—common
(“ B ’’’ shares), *1,566,000, and preferred 6 per cent cumulative for six
years (“ A ” shares), *676,070—par *10, of which in April, 1890, the
East Tennessee Virginia & Georgia purchased *340,000 “ A ” shares and
.*783,010 “ B ” shares (pledged to secure its Cincinnati Extension bonds).
See V. 50, p. 560. The English and American companies own jointly
$1,000,000 Cincinnati New Orleans & Texas Pacific Railway Co. stock.
Dividends on “ A” assenting shares for period since December 31,
1887 (at which date unpaid dividends from December 1, 1885,
to January 1, 1888, were funded on all except *11,500 non
assenting shares) have been: In 1889, 6 per cent; in 1890,
9 ; in 1891, May, 3. Enough of the general mortgage bonds are
reserved to retire the 1st 6s of 1908. Car trust June, 1891, $115,789;
Certificates for funded arrears of dividend, $398,204. Fiscal year ends
June 30. From July 1,1891, to July 31,1891 (1 month), gross earn
ings were $156,014, against $145,446 in 1890; net, $40,799
against $34,388. In 1889-90 gross earnings were $1,957,365; net over
expenses and taxes, $628,988; dividends received, $40,000 additional;
gross in 1890-91, $1,942,989 ; net, $581,270; dividends received,
*40 000: total net income, $621,270; interest, $225,819; dividends,
$96,106; surplus for year, $299,345.—(V. 51, p. 612; V. 53, p. 324.)
$1,750,000
*326,000
*134,000
*81,935
$2,800,000
500.000
*748,850
1,048,390
810,700
$700,000
1, 000,000
466,800
700.000
(Î)
3.500.000
1 , 000,000
10, 000,000
285.000
4,000,000
10, 000,000
2.200.000
9,728,500
6 S5 g.
6 g.
4
6 g.
6 g.
5 g.
5 g.
5
3
6
5S
5 g.
6 g.
313
6
6 g. & 7
5
7'
7
5
7
& J. N.Y. .Farm.L. &Tr. & Bos Jan. 1, 1908
& D London,Comp’y’ s office, Dec. 1. 1927
Aug. 15,1903
do
do
& A.
By sink’g fund
do
do
Nov. 1, 1928
See remarks.
&'N.
Dec. 1, 1929
& D.
N ov.l,1910-40
See remarks.
& N.
N ov.l,1910-40
See remarks.
& N.
Nov. 1,„1940
See remarks.
& O.
Nov. 1, 1890
Cincinnati, Office.
N. Y., Central Trust Co Apr. 1, 1921
& o.
Apr. 1, 1921
do
do
& o.
Apr. 1, 1921
do
do
& o.
July 1, 1920
Baltimore.
& J. ,
N.Y.,DeL&Hud.Can.Co. July 2, .1891
& J.
1895-1897
do
do
& N.
April 1, 1906
do
do
& o.
& A N. Y. Central Trust Co. See remarks.
& J. N.Y.,Phila. & Pittsburg. Mch. 1, 1896
& O. Phil., Pa. RR. Co. &Lon, April 1, 1910
& J July 18,1887, last paid. 100,000 y’rly.
& o April, 1884, last paid. Oct. 1, 1894
A la b a m a N e w O rle a n s T e x a s & P a c if ic J u n c t i o n ( l i m
it e d .) —This is an English company controlling the Alabama & Vicks
burg. 142 m iles; Vicksburg Shreveport & Pacific, 189 miles; New
Orleans & North Eastern, 195 m iles; and Spanish Fort Railway, near
New Orleans, 13 miles. In November, 1887, a receiver was appointed
and in October, 1890, a plan of reorganization was brought out, under
which the new debentures were issued in 1891. See details V. 01, p.
The preferred or “ A” shares are *1,500,000, having a Preference for
6 per cent cumulative, and the deferred or “ B shares *2,500,000, par
value of aU X r e s *10 each. Until Nov. 1,1895, the “ A ” debentures
are entitled to receive interest only if earned, but unpaid interest is
cumulative. They, as also the “ B ’’ debentures, are redeemable at the
oration of the company after Nov. 1,1910, at 115. The B ana o
debentures are both incomes for their full term, receiving interest only
if earned, and are a second and third charge on earnings respectively.
The “ C” debentures are subject to call at any time at par, on six
months’ notice. The company holds the following seounties. vizu Of
Alabama & Vicksburg $30,000 1st mortgage, ^ill.OOO consols, $388,000 2d mortgage incomes and $388,000 stock; of Vicksburg Shreve
port & Pacific, $3,692,000 1st mortgage, $1,93!,000 incomes and $1.59A000 stock; of New Orleans & North Eastern, $4,90^000 1st mort
gage and $4,320,000 stock; of New Orleans Spanish Fort & Lake R R .
$300,000 first mortgage and $200,000 common stock , of Cincinnati
Southern, $532,000 stock. (V. 50, p. 560; V. 51, p. 537.)
A la b a m a & Vicksburg.—Owns Vicksburg to Meridian, Miss., and
branch, 143 miles. It is mainly owned and controlled by the Alabama.
New Orleans Texas & Pacific Junction Co. The Vicksburg & Meridian
road was sold February 4,1889 (see V. 48, P -190), and reorganized as
Alabama & Vioksburg. Of the new consolidated bonds, ^f.OOO.OOO are
reserved for the Vicksburg & Meridian ls ts ; interest is paid only on
such of the V. & M. bonds as were stamped under the reorganization
A la b a m a M id la n d .—Completed in February, 1890, from Bain- nlan
The new seconds are income (non-cumulative as to earnings)
bridge, Ga„ on the Savannah Florida & Western, northwesterly for five years, and are a first lien on the Vicksburg & Meridian lands
to a connection with the Louisville & Nashville at Montgomery, (124,869 acres), interest being payable from the sales of such lands;
/Ua, about 175 m iles; branch, Sprague Junction to Luveme, 34 miles; when interest is paid from earnings these land sales will constitute a,
total owned, 209 miles. In July, 1890, the Plant Investment Company, airiinner fund for the second mortgage bonds. Trustees of mortgage,
owners of the Savannah Florida & Western, purchased control, and road neutral Trust Co. of N. Y. All coupons on the incomes have been paid
became part of that system. See V. 51, p. 50. Interest on the 1st to April 1 ,1 89 1 . Stock, $700,000; par, $100. Car trusts, $21,000.
mortgage of 1888 was guaranteed till November 1,1892, by the Con First dividend (3 per cent) was paid November 1,1890.
.
struction Company (the Alabama Terminal & Improvement Company),
From July 1,1891, to July 31,1891 (1 month), gross earnings were
and $600,000 in county and town notes to secure the same was de $48,038, against $41,468 in 1890; net, $1,000, agamst N R
year
posited with the Metropolitan Trust Company, trustee of the mortgage, ending June 30,1891, gross earnings were $648,400; net, $149,129,
interest due May 1,1891, however, was not paid, andin August, 1891, interest, $117,215; surplus, $32,689. In 1889-90 gross, $676,662;
it was proposed to pay 6 per cent interest till November 1,1892,and then net, $178,714; surplus over charges, $63,368. (V. 48, p. 209; V. 51.
to scale the interest to 5 per cent, stamping the bonds principal and p. 3 0 3 ; V. 53, p. 2 8 9 .)
"T ™
interest guaranteed by the Savannah Florida & Western. Bonds for
A lb a n y & S u s q u e h a n n a .—f See Map Delaware < Hudson OanaJJ
&
$2 300,000 out of $2,800.000 assented to this proposition prior to Sept.
Owns Albany, N. Y., to Binghamton, N. 1^, 142 miles; branches, Duanes12* 1891. On such the coupon due May, 1891, was paid Sept. 18. See
V ’53, P- 256, 368. Gross earnings from July 1 to August 31,1891, burg Junction, N. Y .,to Schenectady, 14 miles; Cobleskill, N. Y .,to
<2 months), were $78,766, against $67,910 in 1890. Stock—Common, Cherry Valley, 21 miles; operates Lackawanna & Susquehanna k k .,
$2 625,000, and preferred, 6 per cent non-cumulative, $1,600,000 (par miles; East Glenville to Coons, 10. miles; total operated, 209 miles.
$100); of which the Plant Investment Company owns $2,425,000 Leased for 150 years from February, 1870, to Delaware & Hudson
common and $1,200,000 preferred. (V. 51 p. 50; V. 52, p. 680, 898 ; Canal Co., which owns $450,000 stock; rental, 7 per cent on
a Hriifirma a/nfl hAttftrmftTits chareed to lessors, and cost made pari; or
V. 53, p. 186, 256, 368.)
Miles Date Size, or
INTEREST OR DIVIDENDS.
¡Bonds—PrinciFor explanation o f column headings, Ac., see notes of
Amount
of
Par
|pal,When Due.
______________on first page o f tables
Road Bonds Value. Outstanding] Rate per When Where Payable and by Stocks—Last
Cent Payable
Whom.
Dividend.
Allentown Terminal HR.—1st mortgage guar
o
1889 $ 1,000
$450,000
4 g. J. & J.
A stoS illl ^ L G aSb ^«feei’d - S t o c I s V l SoO.ÖÖÖ).
?
New York.
100
Joly 1, 1919
500.000
1885
1,000
500.000
A. & 0. N. Y.,Fourth Nat. Bank. April l ,
1887
1,000
1925
500.000
Aicfemm OoZ. < Pacific—l at M. ($16,000 i>. in.) mi’ c*
£
J. & J.
do
do
1879
1,000
4.070.000
^ fJ ll-S0n
^ TTc«^—1st M., guar. C. B .fj p c
Q.—F. g.Y.U.P.°f.&Un.Tr.Co July 1, 1937
1879
1,000
May 1, 1905
Atchison Topeka & Santa Fe—Stock.......
542.000
Q.—F. N.Y.ILP.Of.A Un.Tr.Co
100 101,492,747
Q.—F. N. Y., Boston < Chicago May 1, 1905
Chicago** St.nidm,^te? 8® mort.by mört. red! at iÖÖ 471 1888
fe
5.000
7,000,000
omcago & fiih Loins 1st cured ($10.000 per milei
M. & N. Bostn, Kidder, Peabody Nov. 15, 1888
143 1885
1.000
1,
1.500.000
Other Prmr mortgages (See remarks) P
)’
M. & S N. Y., Farm’s L. & Tr. Co Nov. 1, 1891
Mch.
(!)
1915
New general mortgage, gold.......
..........
Newinc. M. $80,000,000,non-cu. g red"atnaro**r $,619 1889 500 &c 130,160,000
J."& "j. ?N. Y. Union Trust,) July’ Ï,* 1989
Atchison S ystem .-A tlanta a 3
. F
&r >,619 1889 500 &c 79.100.000
Sept. 1. SBoston and London, j July 1, 1989
£®ntral Dry. 1st ER. & land. gr. M
112 1871 500 &c
1.189.000
M. & N
Weft* ^ s i Ä £ ^ egold’ (redeemable "at iÖ5) .c
672 1887
Baring, Magoun,
1,000
17.604.000
J. & J N. Y., Mercantile Tr. Co Nov. 1, 1891
I n c b o n Ä , '
(g. f. drawn at 105.c*J 560 1887
1,000
Jan. 1, 1937
5.500.000
M. & 8
CentraTlbf^ ?o ;C
,Um)’ W- <$18,750p. m .). . o*&r
do
do
1880
50 &c, 12,000,000
Sept. 1,1907.
a. & a
Ihrnme
* land grant m°rt., cum ulat....c*
1871 500 &c.
Oct. 1, 1910
796,629
At Mat.
-A(cA^o« System—Colorado Midland—
S 'w ^ dsV n' c,im - ($18,750per mile)..c*
ia?
1882
1,000
Nov., 1901
Aicnison
1.823.000
J. & D,
June 1, 1922
« W
, gold ($25,000 per mUe)................c* 252 1886
1,000
6.250.000
& D. N. Y., Central Trust Co
267 1890
1,000
June 1, 1936
4.007.000
F. & A.
do
-do
1888
1,000
450.000
M. & S. N. Y., S. S. Sands & Co, Feb. 1, 1940
1890
1,000
Mch. 1, 1898
c a f a f ‘Ä t eÄ
8;.,:•.!teI,atl05a,t6^1894■
<,185.000
& J.
do
do
1889
1,000
Jan. 1, 1900
300.000
M. & N.
a /?P-Sl£ Tu„nilel R ’y 1st M. for $1,506,060gold guar
do
do
1890
May 1, 1892
550.000
& J. N.Y., Continental Tr. Co. July 1, 1935
AtlRt vve.?£?Z T ^ SL Louis * San Francisco— ’ g
2 ™ Ä d’ Z Por cent, not cumulative............
s“ 2 b S
8t)’ A ’ ®old > (Pacific to Seneca,c*
N.Y.,Baring,Magoun&C
do
do
Series c S K f .................. C
& branches,
eenes C,’ g o ld .................. } Mo- 294 mües
do
do
do
do
^ToOOJKW are 7°POT^ente^mrMiewgt^e * f T f 1» ,000,000, of which
° f the 6s 18 8180 P^*
$3,808,91in£ nf88™ 90^ n e H ^ 3 8 caraingsw'ere$3,790,162, against
able in “ lawf ^ mon^^^’iit^e^nter^t
»^ w K °r?£ a ‘t K
i f Com
TS 6i » m « V 8 S ,‘ . ^ ,lle " S l 8^ i S r ' e S u o a 6 «■™»r8“ P 1
K
»
construction. The mortgage w a s 'fn r tw + S ^ ^ 1011’ and the balance under
timber land acoesribto t o f f S W
1ecured^by 30,000 acres of
s
acres when the ro ld is com Seted^ In dV l ia o ? “ creased to 46,000
.to
one of the bondholders t h a t N ^ + ^ o U r „ Jldy’
was claimed by
unencumbered and were m t S l i 0
!agreenimt, these lands were not
brought to enforce fill film Ant
landib and a smt was therefore
which was simple but com prehensfv/ Wn6» » « !« 1 1 1 +* reorganization,
181
$15,600 yearly on NoveSber
utive numbers outstanding 1, begiS n in g^ th *18901 lowest mature
.^1. 18» ° , the mnd8t consec
m
the
000—par $100.
8tanding being those paid In each year. Stock, $500
9 k- ?ha M
e
? s a a a s r ,± ! ! f ^ S s ®
^ ^ P
O
adelphia & Erie h ol^ lfiO fi^ n im B T^e -N? rtll* : Cen^ ’alandthePhil- pany^wM acqui’redf$™2,OOo!ooo!)/Atchkona stocknbefC ^ w ly C ° o m M
ri
in com essin^ A n ri? ifta a m l’P00, No “ terest has been paid on the
s t r ths 2 \ n s r 7 i i c T h ? o ^
c< trol of the Atlantic & P ^ i K secured!“
8 & ®an Franclsco ^
below. P^
^
m
®
i
8
f
f
S
^
of the road s f f i d b e V a d e ^ d e r ^ e - o S i biTnf
&6
»«u r *
KS S S S
i? at 8al!
m
¡«fe rn s
per cent; in 1887? 6%; in 1888, 5 ^
1889“ h d ! L S nil ’ mclu8ive’ 6
fi3 8 9 .1 4 ™ “ S i M t 0* “ k3 lV 6 3 ta91l ( o n <mtl1? S '» 8* earnings were
»
$599,548. In 1890 ctoss «2 w i m 90:
^ 18>
913» against
s&sr&Tisr1 ,o
r
Reading and Central of New Jeraer^hv0 ^ 3 " yea+
s
Philadelphia &
Beading and L e f i f h ^ o a l l Narigation!—(V ^ p 68! ^ 5) PMladelpMa &
S l ^ O O ^ R 1 1^ « ! M
? 1
notes, $7,000,000; Chicago & St Loufs’
I;i75° 0(ioheA tL ?t?ePT T er^ n lU& KaifroadaCompfla n i (AtSfsol®8bha3)/
P
a 1S
pledged them (e x o w ta few s h a re d ? S
d “ ortgage bonds, and has h^f>; $8,802,000 ;^ s t grcafbonucoa,n
$19i,0006! totol^$ 17^ 0
o f 1889. IH1890^ CTOsk f f i K w f r e ® n i ^ ep lts- collateral trust
1889; net, $12.303, against d S of $2,941? ’
’ agamSt $121-225 in
00°^
0
mSuSAzi S is k
? - •? ■»,“ »?
bngton^Kam, ^ o 'm f i ^ r ^ e o S e i f 'C i £ W t o ^ 6* ^ ’ Kan-’ to Waah~ bonds owned and pledged under trust deeds an/i qi
£
Logan to Lenora, Kan 25 m
i l e s r Logan, Kan., 155 miles; under the reorgahizalon. T h ™ mav be Issued 8®
+ curitie8 deposited
miles; Yuma, Kan., to W a r w i r k i ^ 0^ 8’
to Ball City, Kan., 24
p
tal is $ 2 5 4 ,^ 0 pe“ annumifl
f
f
l
a
c
j
a
S
S
g
g
a
lldCentralBrailch own $920-300. Ren-
—Jamestown, Kan., to
Colorado & Pacific Stock *onoa
QAA a/U8Piccs and control as Atchison
Branch ¡ . „ Ien v S __
A S . “ annum.
1
A tc ii om , p __ „
_ v
*
«entaf is 3>d4,000 per 0 1 CentI'a,
k
dwU1
«11 *1,681,400 In ¿ 1
The Atchison TopekaA S a n t^ F e ^ a ^ i” "^a * Maps.)—Line op R oad .— h a “ S e ? p a W . 8 ^ . 5 2 i p %
the main line from^Chicamf^m tiey 8ed and consolidated lines include
i
»2,945^87?,
4 S '& r0
i2qoar,lteS8 S
i?
to Denver, C o l, 1/210 M
^
a?*a®Clty (458 mUes), and thence 7,xi4m r i S i w eie9
T T
querque, N. M. (on ihe Arior^A
^ ° “ .I,a Junta, Col., via Albubranches in Kansas! 6 1 ^ 7 7 1 mUes - tota!°AE^ 9 ’-iTex,’T
1
a8°
601 mUes ;
there are the Gulf Colorado & Santa
^ lleK ,In addition
8ning from Galveston,Tex., to Purcelf Ind Ter <cwQ
ned absolutely), run540 miles; the Sonora Rv from No m 1 T + ’ n 8 miles' a n d tranches
m a
?““ a“ lar“> A S i i '
miles; the New Mexico L A r i ^ o
-i to Guaymas, Mexico 262 2 '^ g i i T t t o ° “n S m l ^ a e,‘ttl‘edta>'>
For the last two fiscal years earnings have been as follow s:
Railway, 476 m ilef; the
‘ h ^ e f ° ? ^ eniACai ^ nid»
miles. Roads owned iointlv
CltJ & Colorado RR., 61
4-— G^oss Farnirws.-— ^ ^~— Net Earnings.----- ,
worth Topeka & Sout¿0W e s t e r n c o m p a n i e s : Leaven&
Tq&
.......$3|66397i6 $3L 004^357 $1 f6 2° 47
9 9 0?51
■- ■ 8,433,716
7,869,306
« » -»
2,923,176
3,120,231
Col. Midland............. 1,968,265
1,724,790
581,307
558,943"
“t o tteahoTOin'^Iayligao w a S a fd th e'st ’^ jo!»*S’)r7]!xo4 Ii,u S *
4
Total of a l l ........ $44,065,697 $40,598,453 $13,125,090 $13,763 145
Report for 1889-90 was given at length in the Chrontct r v
w
,
831. See also p. 828 and article on p. 812.
konicle , V. 51, p>
§ t
&
VlAsi?!
INVESTORS’
SUPPLEMENT.
[V ol. H i t
#
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gh
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boiat
Lake
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S**-*,
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Hawthorne
\
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Riverside/
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o Reveille
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2\ X ^
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X
.
Wy
bÆ Î
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Sulph. Spring
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TVagohf
Durango
JTejyett
A¿ i
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>
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f x VJLLE 3 ^ \
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5
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AND
1Sta. Marla
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~
San Fernando
NO G ALES
Altar
foFepia
jvmÿ
ban marcial
(oBosque
Granda
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flCÄPlersond
gdalena
Puerto
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ifclERWlOSILLo/
f Santa Rosa
s< h
*
yf
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Jns Cruces
Trunswick
4bd
I
^Anthony
------ W
I e ^ f — ^ _____
EL PASO
IPASO DEL NORTE
FîSP^? y
¿¡¿¿P ' Pecoj/
Candelaria
Ranchería
Fronteras
Ft.Stoctton o
Carmen
Ojo.
oFtLayla
Caliente
Z jMbntezuma
.Rio
*
• * Rosenfield
S.Ruenav.entura.
^RINCON
~ )n n « . A n n
MAP OF THF
, QS,.Tèlmo
V
|
Clifton^i
Copperopolls
Cobota c
i
Bacanora
Enc'in'illas
â
^CHIHUAHUA
'apula
4?
BONDS.
La Encinada
3
, 0N>®
°d
R
ARD
, •
I
•Cimarron V
a
R.
?°tt
JoeEAIIS DL
N I E,
^«coffdiao»
rxJ 1 Cajoni
1
-,
^g^AJV DIEGO
__
~ ^ Guadalupe C
W E ST E R N SECTION.
? \ßilOSSBIJRGG^Ä^Lf'i y
‘ÔçC
|§ s ¿¡
b
^m
andol^^mi*/
^
^
Ä « IV
4 I
P ^ e ° ¿0Ehrenberg f t Y Zi 0¿ N A j MD
D
Ä
/ A
i"> v .81DE\ RW
Gillett
> G'/
SANTA PE E. R.
Chama
Pt.Defiance o ■
bLoa.Alamos
ATCHISON, TOPEKA
on«»
STOCKS
\Obispq
Santa Barbara
p.°
ft6
^
TYest Point o\
& V N
%
Í s. l L ,
sT T S
INathrop
° Et. Cameron,
fiÙÿpofÀinerQosaJi
\
Callville
Q
XulartíS
u
Fremont
Prisco
/Cannon V.
Virgin City r
r
°
J
oKanab
\
\
\
Keeler
¿éW
H, - xj <eW
jÆ
XÎS -D
RAILROAD
AV
rX Owtasville
5P^*
'¿P*
Ig*
< °
§>
«Manti
M' o Fillmore
i
Patterson o
*
VA ra^
úrO
\
Bentonl
¿oHias
a
V
Eureka
o Hamilton
Treasure City0
CAlíSbN CITY
fin
H
%
A
Austin
a“•
¡jClo'yerdále
Madison <
^Calistoga
c
JCarr
,&
V
■Chico
V
s„
*¡
>
v
[C HEYENNE
!
pw
Tehama t
w
September, 1891.]
sHydesvIIle
Teo0
I
O^
ps
eiliJ
J
r
?
^orinno
Farmington^.,
"{E c h o
L.
¡¡Coalville
0°°
,t > e
Kv*'
H en ry’s 0 /
-/’CH
EYEN E
N
o Dixon
Baggsq,
iCair
Brow ns P a r k ,
V yw
"V
Soda Lakes(
Peaks
rHUUärds
^Grpyer
° I
Hahn’s o
’ .Ueak.
G reen Jiiver'k
NOR)
LaJPortj
s a l t l a ic e c it y
/Earls: City
‘3ft. Collins'
1Sulphur Spr.
,
/o Charleston
Wallsburg
>iV
pa
iula
T i»
PLATEA!
*Q 3
P*7 in
\M I D D L E
Lyons q °*t
[P A R,
Sunset o — —
leek®
*VV z' ^
xyy*>
H
A
Bou'd®
r / V -V Jr
v /s o e /
* “ *a < y i A / ^ ^
Peasant Valley Jc.
,A U
SCastle Gate
3 Drapers
^Wfelee
S i
/
I
Central Qu
,«
C
O
*
* o_
* °^
«ST
nySide
righton]
Marshall
Haiiect
Geojyetov . ___ \
*»>
4
t>Deer Tall
3Keystone
Breckeurldge
,«0 W
^
0s■ ' ‘
gate*
1
Grassy Trail
HaWxhur8t\
o Manti
°Orson.
Green B1vèr
r,
A
/
wEsiaa>*|
CrestedB u t t e r t .
? Marion)
\o
I -------D..a«ia
^r.Buena ®'
JPitktn 05■ 1V *__-K
^ _ *
^M
onarch
MAP OF THE
foMoab
COLORADO MIDLAND
RAILWAY
r,
Q
J
^
U
"Montros
Bolden
Ouray’s Ranch
XaSal
\^trtgv.ei Ducompahgre o
W
vviiia Grove
ijLos E m os^ p cy
ght’ff'Spring
Ouray
TeUndde^
ßUyerton
JBKfar&j
5 West Chit
.Ae*tt*°
SatuZuiS
** ¿Lakes
£fcmCarlos
Gißen Horn
r
Huerfano
Lin.
ATCHISON, TOPEKA & SANTA FE
H o t'
Springe
___________ [Vol.
Baldwin
LDelta 1
RAILROAD SYSTEM.
-1 ,
SUPPLEMENT.
Thistle
Corife
promontory
Torkl
Nephi I
>!/■>
0Steamboat Sprr
'*~rf 0/0 e b e r City
Midway /n
America.
Pierce
Stout
P A1
'White R o ck
INVESTORS’
,
I H la C ity
►
octfl«
' .
5P
Sand
/Ftj^ridger
•^^Tiedirfont
"Wasatch^
ÌO gden
Bear Sprs
4V
M
Bridger
EvanstoJ
<? ^
9
4 »
lampton
S.Ogden
T
^
Jr
4?
September, 1891. j
RAILROAD
STOCKS
AN D
BORDS.
INVESTORS’
1*2
.„ h .c r l b .r .
[You L in .
SUPPLEMENT.
w in confer « great f.T c r b y g l r f g lm n ,e < ll..e „ . t i e , . f .1 7 . r r . r d l ^ . T . r . a In
«rttojj.
Bonds—Pri n e INTEREST OR DIVIDENDS.
pal, When Due.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
Outstanding Cent. Payable
Dividend.
Whom.
For explanation of column headings, etc., see notes of
Road. Bonds Value.
on first page of tables.
Atchison System—St. Louis &San F ran.-( Concluded)
82
Mo. &West.RR. 1st M., g. ,$5,000yearly dr. at 10». c
103
St. L. & San F. col. trust gold, sink, f d. not drawn. c
964
Gen. M., g. (1st on 365 m.) $7,807,000 are 6s.c*
55
Collat.Tr. M. onbr’ ches ($20,000 p. m.),gold. .c
I Consol, mort. for $50,000,000, g o ld ...... . .
- 1048
Equip. M., gold, $80,000 dr. ann’lly at 105-. -0
I Equipment Trust $23,000 due each A. & O ....-145
St. L. Wich. &West. 1st M., red. at 105, g., guar, .c
62
Kan. C.&S. W. lstM .,g .,red . a tllO , mt. guar^c
70
St. L. Kan. & S. W. 1st M., g., guar., red. at 110.c
54
St. L. Salem & Ark. 1st M., guar., redeem, at 105. c
107
Kan.Midland 1st M .,g.,$15,000p.m .,int.guar..c
Ft. S. & Van Bur. Bridge 1st M., g., dr. at 105, guar.
Atlanta < Charlotte—Stock (5-6 p. c. rent. Rich. & D.) 269
6
Preferred mortgage, redeemable at 100......... --C 265V
265V
1st mortgage................... - ....... ................— 3
Income bonds (not cumulative), guaranteed... .r
105
Atlanta & Florida—1st mort. ($8,000 p. m.) gold, .c
Atlanta < West Point—D ebenture certificates........;
6
"83
Atlantic City 1st mortgage, gold. . . . . . . . . . . . . ---C
299
Atlantic d Danville—1st mort. gold, $16,000 P-m.c
k
Atlantic d St. Lawrence—Stock, 6%rental GrandTr k 151
k
53
Augusta < Savannah—Stock 7% rental Central Ga..
£
89
Bald Eagle Valley—1st mort. (s. f., drawn at 100). .r
8
Baltimore Belt—IstM. for $6,000,000, g.,int.gu.c*
87
Balt, d Eastern Shore—Consol, mortgage, gold, o AT
k
40
Baltim ore & Lehigh.—York & Peacb B. 1st & 2d Ms.
44
Maryland Central 1st M., int. 4 p. c. till Jan., 1899
44
General mortgage for $7,000,000 . . . . . . . . . . - - Balt. & Leh., Susq. Div. 1st m. for $2,500,000, g.
1879 $ 1,000
1,000
1880
1,000
1881
1,000
1887
c.
1890 100 <&
1,000
1880
1,000
1884
1,000
1879
1,000
1886
1,000
1886
1,000
1886
1,000
1887
1,000
1885
1877
1877
1880
1889
1881
1889
1887
1880
1890
1890
1882
1889
1889
1891
100
1,000
1,000
500
1,000
1,000
1,000
1,000
100
100
1,000
1,000
1,000
50,&c.
$1,071,000
6 g. F. & A, N. Y.BaringMagoun&Co Aug. 1, 1919
Aug. 1, 1920
do
do
1,118,000
6 g. F. & A
July 1, 1931
do
do
&
20 , 110,000 5 < 6 g.
Oct. 1, 1987
do
do
1.099.000
5 g. A. & O.
Oct. 1, 1990
do
do
4 g. A. & O
=
C
O
June 1, 1895
do
do
fe
267.000
7 g. J. < D.
A,<&0.5p.c. ea.
do
do
f
142.000
6 g. A. <e O.
Sept. 1, 1919
do
do
2, 000,000
6 g. M. & S,
Jan. 1, 1916
do
do
&
744.000
6 g. J. < J
Sept. 1, 1916
do
do
M. & 8
6 g.
890.000
Dec. 1, 1936
do
do
J. < D
&
810.000
June 1, 1937
Ì= g• J. & D
do
do
1.608.000
4 g.
Apr. 1, 1910
do
do
&
6 g. A. < O
430.000
M. & S Nr.Y.Cent.Tr.Co.,54Wall Sept. 6, 1891
3
1.700.000
April 1, 1897
do
do
A. < O
fe
7
500.000
Jan. 1, 1907
do
do
J. & J
7
4.250.000
April 1, 1900
da
do
A. & O
6
750.000
Nov. 1, 1939
N.Y, A. Dutenhofer.
840.000
6 g. M. & N.
Co’ s option.
Atlanta, Ga.
J. & J
6
1.232.200
Phila., 227 South 4th St. May 1, 1919
fc
2.200.000
5 g. M. < N.
1917
4.792.000
6 g. A. & O Oct., ’90, coup.last paid. Oct. 1,1891
Sept.,
M. & S. London and Portland.
3
5.484.000
Savannah, Co.’ s Office. June, 1891
1.032.200
3V J. & D. Phila.,F.Ins.Tr.&S.Dep. Jan. 1, 1902
J. < J.
fc
6
360.000
1990
5,000,000
5 g. M. & N. N.Y.,Brown Bros.&Balt Nov. 1,1920
July,
In default.
1.600.000
5 g. J. & J.
1932
Baltimore,
Various
5
244,800
Jan. 1. 1919
do
850.000 4—5
1939
do
M. < N,
&
5
659.000
1941
5 g.
(?)
Hn-nUs nr*Aredeemable before maturity at 105. See V. 51, p. 142, 248
I In October, 1890, the Atchison Topeka & Santa Fepurchasedthe enOPERATIONS AND FISCAL RESULTS FOR YEARS ENDING JUNE 30,
1889-90. i tire ennital stock of the Colorado Midland. See V. 51, p. bus.
1888-89.
7,110
1t Stock, $8,000,000; par, $100. Abstract of first mortgage m V. 45 p
7,11
Miles operated June 3 0 .......... ......................
540 and application to Stock Exchange in full in V. 48, p. 69. Central
Operations—
o-aoo
2-234 cts Trust Company of New York is trustee‘.of both mortgages.
Rate per passenger per mile........................... fB S g
1/228 cts of consolidated mortgage of 1889 was ill V. 51, p. 572. in© © oi
oik
Rate per ton per m ile.. ................................. x Toog.gg.
1889-90.
are guaranteed (by endorsement on the bonds) as to both principal and
Earnings
1 qq q qa
$6,610,034 fnteresTbv Atchison. Both issues of equipment bonds are redeemable
21,733,154 by sinking funds at 105, and are to be paid at maturity at ejune^rate^
Passenger........ .............................................. i 7 ’o i4 9 7 5
2,661,169
Mail, express, <fee..........................................
2,4o7,uu
$31,004,357
ss
Total gross earnings............- ................. ¿ita
20,920,386
20,800,478
Total operating expenses.
i n CHRONICLE, V . OU, p . a o i . J..I -ioo.v
" ! 70. V
$10,083,971 net, $558,943; surplus over charges, $2,943. (V. 50, p . 1_73,, V
$6,772,391
Net earnings....................................
142, 240, 241, 344, 3 8 2 , 383; V. 51, p. 457, 493, 572, 608, 680, V. 52
67-48
75-44
Per cent of operating expenses to earnings
p. 238; V. 53, p. 256.)
INCOME ACCT. OF CONSOt SYSTEM—9 MOS. OCT. 1 ,1 8 8 9 , TO JUNE 3 0 ,1 8 9 0 ............................... $ 2 2 ,6 2 3 ,9 5 2
Owns St. Louis. Mo.
Gross earnings.............
branches, 202
miles, and
Total net income, including income from investm’ts ($412,- $8,486,550 Kan., 217
miles; total
H H I ............. .....
Western
685) and sundry profits ($441,515)..— - ..........-..............
half owns '
^i^ita&
$3,947,709 Division, 806 miles; Wichita Western,“l2 4 miles; total (counting oneInterest on guaranteed fund notes and 4 p. et. generals—
2,195,066 |
of mileage half owned), 1,855 miles.
Interest on 5 per cent incomes (23± p. ct.)................ - ...........
Organiz v TonT &c —This company was organized September 20.
t
Interest on other b on d s......................... - --...........- ................
¿successor to the Atlantic & Pacific in Missouri. In May, 1890.
st of
Rent of track and rolling stock. ................ — - ................
and
S tl!ou is & Sail FranVity.’ (under agreement of Öct., i.886)..
preferred
St. Louis Kansas City & Colorado deficit...............................
(7 per cent
Atlantic & Pacific deficit........... ,.........‘.......... - - - - ...................47,218 (7^ p e r Kc e n t ^îmvcimiiilative^^O.OOO.^W^^lnt
he comMiscellaneous.............- - - ......................... - -..................... I*
~~ -r- and the
. .
„ .
'
. . . $8,038,356
I1 June, 1891, it’was voted to
1
deductions.......................- ......... — -......... - .........
v ’ fzmmL
Total
See V. 51, p. 241.
$448,194
Balance, surplus for nine months
increase 786, i
- (V 51 P 20,142,-171, 205, 344, 383, 493, 608, 786, 8 1 2 , 8 2 8 , 8 3 1 ;
to a dividend of 7 per cent per annum
T .'52?p.’ 40, 547:570, 863 ; V. 53, p. 21,107,125,137.
j for such dividend over any
A t c h is o n S y s te m .—A t la n t ic & P a c if ic .—(See Map / ^ m o n company has priority « l ^ ^ g ^ t h ^ ^ m i à i i y siibsequent to the
■Topeka di Santa Fe).-Owns Western-division from J sleta -K M^near mortgage bond, ttiat may
Albuquerque, on Atchison, Topeka & Santa Fe, to Big Colorado.Kiver, creation of this stock.’ 9
In 1891 new 4 per cent bonds wereIoffered to the holders of the first
j
AfiO miles with Gallup function branch, 4 miles. Leases from Big Colo
ra(io^River'to Moiave, Cal., 242 miles; Atlantic & Pacific junction to
cash at _ ^
„
AlbuQuermic K M ( 13 miles; total ’operated 819 miles. Owns also teomVanuary 1, 1890. V. 52, p..547,„570.r Ceriate of the first preCentral Division, Seneca, Mo., to Sapulpa W the Indian Territory, 11
a
»
»
tM^plaS: ’ Bee V. 52, p. 681, 718,796,899 ;
miles, operated by the St. Louis & San Francisco Railway Co.
This company, chartered by act of Congress July 27, 186b, forms an
S e n d , o f f l r s t p r l W e d 8t®®k-From 1881 J
7
important link in the Atchison system. Its authorized
o’en of
nno ioar «1001 of which $79,760,300 has been issued, $51,503,800 of
• is88' 5; to1889- 3:
”
tMs betagW ne’d by tee Atchison Topeka & Santa Fe and the St. Louis
new consolidated
& San Francisco companies equally and deposited m trust for thirty in 1890 and since, ml. (Bee V. 50, PIn April, 1891, the ®®™^2qer cent gold bonds, covering all its propyears. The stock is classed thus: W e s te r n ^ ^ ^ “ n .c o m m o ^ stock,
$78,271,600; Missouri Division, preferred, $78,700, Central divisiou,
PrTher^ a rln te e d trust bonds due in 1937 are guaranteed severally (but
not iomtly) by the Atchison and St. Louis < San Francisco, ^ c h °oni
&
pany guaranteeing one-half of each bond. They are
Hme m 105 The 2d mortgage bonds have same guarantee as first
mmteaee- the sinking fund is $100,000 per year; bonds may be brawn
S ; i o l g (Atchison owns $3,009,000 of these seconds.) [Abstracts of aK
toe mort(4 g e s were pubfished in the Chronicle , V. 49, pp. 302 to 304.]
4 n ™ 8 8 4 the Southern Pacific sold the 242 miles of roaw n “ ^ f V o o
d/ r«
lthe Colorado River, to this company for $7,271,100-
Xct <x -ji r a *
cal eondition. <3) To retire a gar, a8,8
Ö S S Ä iia S S S Ä i n V
bonds i8Siied’te exchange for
l » a interest, by .be Atebr
to’ th is te e c e ^ o f^ a d T s ^ n T a e Atlantic & Pacific takes possession and “ Ä ^ M b W X B i Ä t o b o n ^ a M ^ n t ^
n avs6 ner cent per annum ¿n the $7,271,000,. The same negotiation
Save a rteht to run through trains to San Francisco over the Southern asinkingfnnd of 5 per cent ywirlyto r a w ^ ^ land department assets
•
including 122,701 acres o f
and6Central Pacific lines either onamUeagebasis or at 3 per centper deemable at 110 at company s P
1866 is 25 600 acres per mile in Territories and 12,800 acres in States
On the Western Division the company has earned under its grant 20,205.296 acres of land, 5,324,181 of
i n 1 Q Q O . O A / -i-r »n ln H in c
stnmpag©),
m a p o f wi© la
™
V a s^ b lish © d in th© Chronicle , Y. 36, p. 468
qq 18 9 0 , gross ©amings wer© $2,816,401; net,
( > e r ations F inances,
p
•FroDa^Jd^_’
TTisoal v©ar ends Jun© 30. R©port ■
The figures below for 1 8 8 7 ^ 0 1 tb^calendar yea .
tees
«v g tA m .—C o lo r a d o O T Id la n d .-(^ ee Map.)-O w m
f t ir iT i^ t o " N e w 'c a s t le , Col?, 2*34"miles; A s p e n b ra n ch , 18
fr o m C o ie r a d o P
^
cll y g m iies; le a se s N e w C astle t o R ifle C reek,
m iles ; J e ro m e P a r k o ra
,
C reek, C ol., to G ra n d J u n c tio n ,
Other receipts.............
190,33z
Total net income.. $3,437,809
1 4 miles; Rio Grande Junction KK.^Kine^^^ ^ ^
total) 350 miles. Inti^stekTfund, <fcc.... $2,219,901
D ividends....................
565,000
on the Rio Grande ^ ® 5 ^ r? r tvl Denver < Rio Grande the Rio Grande
’i
fc
au . aoc/v
u
/wLinii
over whicii m JNOvemoer, r o w , was
which in November, 1890, wa»
Junction RR., 64 m i l e s b e t w e e n Colorado Springs and
o ^ n e d a th rw gh standard ^a ®® ^ ® t 1890, leased the Busk Tunnel
itsbon d,. T b « e
841.
$6 229344 $ 5 !fof,1 7 6 $6f394J)69 $6?748?508
/ s l9 B «,0 8 4 ; d e flo lt r a ife r o p e ra tin g expem a , »70,465.-<V 48
P‘ :
31, 1891
a
ì»7AQ QQS against
$2’ioo;9§! $2’907-6- 9
’ 4
............ $3,015,621
$2,572,006
190,000
S e pt e m b e r , 1891,J
g u b .c -lb e ...
.RAILROAD
STOCKS
AND
BONDS
t o n -er a Sr e . . r .v o r j g g ^ n g , mme<u. , < , . „ „ ce o f
i
13
error „ .......................................
RAILROADS.
“
*
?
------------------------------ —--------------------ese i a b l es.
Miles Date Size, or
INTEREST OR DIVIDENDI
a ,__ j j
fiW H P fiW i'
T o r explanation of column headings, &c., see notes of
—
of I P ot 1 Amount
> ■
on first page of tables.
Road. Bonds; Value. Outstandin
Where Payable and by PS S - l 2 s t '
Whom.
^Dividend.
■Baltimore < Ohio—Stock (see remarks) ___\.........
&
$100 $14,792,566
1st and 2d pref. stock, cum., $3,000,000is 1st pref
Balt. Office, Cent. Bids May 1, 1887
100
5.000.
000
Loan due in 1880, extended, payable at will........
fio , _
do
5 0 0 &c
J,uly 1, 1891
579,500
Loan, 1853, extended in 1885, gold.................. .
fio
do
5 0 0 &c,
i At will.
1,709,500
Loan, 1870. sink, fund £16,000 yearly, not drawn
d o .;
do
£200
Oct. 1, 19353,454,792
Mortgage 1872, sink, fund £12,000 semi-annually
Bond n,Baring Bros&Co Mch. 1, 1895£100
9,301,512
Mortgage 1874, sink, fund £9 ,00 0 semi-annually.'
do
« do
£200
Mch. 1, 1902:
9,634,504
Bond to City Baltimore (payable $40,000 yearly).
London,J. S.Morgan&Co May, 1910
360.000
Consolidated mortgage (for $29,600,000) gold.c*
Baltimore, Office.
1,000 12.747.000
July, ’92-1900
■Loan, 1877 (s. f. dr’n at 100) (B.& O.&Ch.bds.colTlc
N. Y., Union Trust Co. Eeb. 1 , 19 8 8
£200
7,145,776
if- W. Virginia RR. 1st M. (ext. in 1888) assum.c ?
London, J. S.Morgan&Co June 1, 1927
$1,000
140.000
B. & O. loan 1879 (Parkersb’g Br. bonds collat.) ( 104 j
Baltimore, B. & o , RR Mch. 1, j.902
1,000
3.000.
000
M o rto n Phila.Br., with Balt. &Phila. bds.as c o l.. 108C
N. Y. , D. M. & Co. & Balt. April 1,. 1919
£200 11.616.000
¿Pittsburg & Connellsville 1st mortgage.
London, Brown, 8. & Co April 1, 1933
149
$1,000
4.000.
000
Consol. mort.,guar.B. & O. (s. f. £7,200 per yr.)
Baltimore, B. & o . RR. July, 1898
149
£200
6,567,880
* ,&
B>
18«5,g. (Pitts. & Conn. bds. as col.)
150
Lond’n, J.S.Morgan&Co. Jan. 1, 192«
$1,000 10, 000,000
Car trust loan, gold ($250,000pd.yearly Jan. 1 . c
N. Y., Union Trust Co. Eeb. 1, 1925
1,000
1.500.000
Equipment trust ($100,000 paid yearly April 1)
Balt’me, Merc. Trust Co. 10 p. c. yearly.
1,000
800.000
Equip, trust, Ser.B.,$200,000 due y’rlyNov. l.c*
Phila., Fin’ce Co. of Pa. 1892 to 1899
1,000
2.000.
000
f
E. East Side RR. 1st M., g. (guar.)
, do
do
Ny . 1,’ 91-1900
1,000
4.500.000
|Monongahela River RR., 1st M., gu., g. .c*
Phila., Solicitors’ Co.
1,000
Dec. 1, 1935
700.000
§¿9 1 Balt. & N .Y. RR., 1st M., guaranteed, .c&r
New York.
Feb. 1, 1919
1,000
350.000
3 $ Akron & Chic. J. 1st mort, gold, int. gu.c*
-,
do
May 1, 1939
1,000
1.500.000
...
I Balt.Belt.lstM.for $6,000,000,g.,int.gu.c*
Y J Merc. Trust Co. Nov. 1, 1930
1,000
5.000.
000
Baltim ore < Ohio Southwestern—Cin. & Balt. 1st M
&
N. N.Y.,BrownBros.&Balt Nov. 1, 1990
1,000
333.000
1st mortgage (guaranteed by Balt. & O.) gold. . c ‘
N. Y., Farmers’ L. & Tr Jan. 1, 1900
1,000 10,667,000
1st pref. income mortgage, not cumulative, g. .c
do
do
1,000
Jan. 1, 1990
5.500.000
2d pref. income mortgage, not cumulative, g ..c
In 1891 paid 4 percent. Jan. 1, 1990
1,000
6.400.000
» i . Pr6i - Inoome mortgage, not cumulative, g. o
N. Y.—When earned,
1,000
Jan. 1, 1990
7.700.000
Balt. < Potomac—istM . (tun.) g., s. f.lp.c.,n otdr’n.c’
6
do
do
Jan. 1, 1990
1,000
1.500.000
1st M., road,guar., gold, s. f. l p , c „ not drawn &
Balt. Office and London. July 1, 1911
1,000
3.000.
000
Consolidated mortgage for $10,000,000, gold. .&
Balt. Office, Calvert St. April 1, 1911
1.000
3.000.
000
do
do
July 1, 1929
the Richmond & DailvlUe for 99 S
at i rental 5f f i » S ? ‘ « “ o'1 to
«qual to the interest on debt and 5 per ceift
per year»
p ercen t ^and^the^exTO^d^^SOO^OO Y
1’500’P0P’ ,4 ^ ^ ^ d s eton
beg6
were $1,687,335, against $1,516,416 in 1889
g cte d t S
■changed in 1887
(V 51, p fo T 6armngs
1891, the Deer Creek & Susquehanna Company w a s’taken in
Dee^’ Creek
S
M
wns, from Atlanta southerly to Fort Valiev’
W mi}? a ’ ^ ten sion to tid e ^ te rp ro
Construct^
« 1 « le? lne°rPorated in 1886; name
per cent. The stock of the mnsiiMflutn] mterest till 1899; thereafter 5
i o r’ll9 l‘ (6! n«ieif Auguatl 189ÌÌ,a$&i,ooo.0 Frem TanuCy1 to^jime
mot
$49 243 i n ^ o o ^ r o fa a n earuin« s 0n 105 miles were $48,356, a ga iS t William Gilmore.
were $128*842;w .S W s S o '
(V. 53, p. 58.)
g
m 1889’ $21’ 617, Presi(ient,
%6 per cent), $73.932.’ $In 1890-91 gross! $483, J?!.’932 ’ dlvldends pald
■oi^m U ee*
2
branches, &c.
ll.O O o S p r o fe r r o d 01" Controlled b v P h T l i
Common
of the stock h e l d ^ ^ i n ^ ^ ( S e “ P
V^^0Pn
^
$1,200,000
near liOTfoUr, to D a n ^ v T ^ K c h ^ f ^ f 890’ Portsmouth,
to Belfield (3 feet]gauge) 5
4
600 5 ^ les’ ^ Glar&in0Jli
the Danville & East Tennessee w
a
s
t ®8, •From Danville stock to the reported amount of about $2 400 0 0 ^ ltT^eX in* W ^f^1110
1
p
to Bristol, on East Tennessee V irS ™ ^ °^ d
n^APartl? ^ n 9ame interest a link m the new route to Chicago. See V 52 n W
V * n
m3
1891, Messrs.
Georgia RR. In January
ceivers. See V . s T p . ' SO In Maroh l ^ r ^ o S
appoiljt,ed A
t r S L K, b ^ ? B K % ~ , 5 e. . & S S ' f 0 S h
9
a
in
tiflcates were authorized T r u s t e e o f m n n l o !? 5« ’000 receiver’s cer
•Stock authorized, $20,000 per mUe- outstand'iufe’« a^ m a Q ^e Trus£ CoQ
From January 1 to Jffiv 31 liuio
par>$100.
■$281,458, against $195^14 in f ls g - n T ^ q f s f o 088 earnj n£8 w ere
Uross earnings in 1888, $204,064- net * 96^47
o f o lnst $87,981.
3 5 6 ; n e t,$173,431.
P o t d /V M ^ d b r a n c h ^ ™ ^ ^ ^
o f Canada, to which leased for qqq
equal to bond in te re s ta n d 6 p e r ™
n
Slsi?
^ an^
mortgage bonds $2 21 s ooo
holds and has pledged forlts debentTi™
™
l
n
°
i
under i S r L f & c 8, S T o f l
to ^ a n d
Grand Trunk
H f \853J at a rental
m iSh
^ h t conw hlGl? t]ie (2rand Tran]*
Tbe 8t0Ck 0f $5,484,000
Sept.^30,\°89(^ coM oiao ? 18871
tnathAUt8tandi nf I116 ™ kinS funds held
which is paid in consols themselve^ a n ^ °o t w ffl$2+
6^7’009 imterest on
tng bonds to a t o S f ^ f ^ » o W s o ^ t a ^ ^ lntf r«8t-bearwhich (contrary to c o m r a n v C n c ffii “ iso $1,519,760 canceled bonds,
amount outstanding. P ^ s.custom) are deducted in table above from
$1’° 63’ 757; net’ $239,725; deficit
c o v e r o X m ^ n l t a f ^ i i f 1887. (tS^8tee’ Mercantile Trust & Dep. Co.)
the two OhioRiverbridges stock°ofHiee^ gn-ai^ branelies, 444 miles,
m U eT '‘Leased i n 7 e r p e S y l ? ^ n ^ ° r o f M^len $ ^
<*a-, 53 000, and the entire
^W a-shington branch
$ i,028,annum. Has no bonded debt.
Central of Georgia for $73,000 per between Pittsburg and Wheeli n g Irm Pi)nds ($5,000,000) for the road
.r^K
on
served to retire t i e prior b o S s Bn T S s w Be °? consols unissued is re+h
fun<is- Abstract
Pa^ 51d i^ le f ? brlnchYo* B ? S n t e > I ail3
1p
to Lookhaven, of mortgage was in V 46 n ^¡ru.n°>rs a id Py
* 2 ® of 18Z 718 secured by deposit
m iles; Snowshoe to Sugar CamD
w i Nittany branch, 10 of the entire stock
.? n^8 of the Chicago Division. The loan of
Leased to Pennsylvania RR Co Pfnr qq1 8’ ^ a^ operated, 89 miles. 1879isseeiirAf)
-^
Rental, 40 per cent o fg r^ s fe a rn in g " J®af 8n^
December 7,1864. bur“-branch this rnnrt081^ mortgage for $3,000,000 on theParkersern Virjdnla’bood
b>
?1U
against $208,418 in 1889 • B r n f f i L n ^ alVetc-’ m 1890>$265,007, seflnrwThv flPjiQd8i 88umed. by g 8abJect only to $140,000 North WestBaltimore & Ohio. The loan of 1883 is
wliich paid dividends (10 S
^
f
n
t
T
01
1
?
<par $50), of which P e n n s v l v S p Y 40’ 623, Stook is $1,406,250 first mort^ag^boud^Af^u1 ^ ie1 lliladelpbla Brailcb and Pledge of aH
State liie t f phlfifdAirVhiA? Baltimore & Philadelphia RR. (Maryland
«re paid February and Auguit at T ? e ?8 L F ™ fli| ™ 6(| 529
iooc
° ^miadelphia), amounting to £1,000.000. The loan nt
5 ^^10’^? a’00? 2d consolidated bonds of Pittsburg &
Claiborne to bcean City. Connens^ill^RT?1 5
Completed early in 189L and in ADrflP i « qi5 n lle+ -nr®iry’ 12 miles,
8;
?
tbe SebuylMU River East Side RR. are guaranteed bv
was appointed receiver. See V 51 ^ 71889s’w v Pt‘ ^ lUard Thomson fiJlMm:::.-'1
a
^
000; par $50. (V. 51, p. 20; V. 52, pP 641) St k autllorlzefi $1,000,- &c ltl^ ^ & ° (tbe Pennsylvania Company for insurance on Livw
mortgage trustee). So too are the Monongahela River <>’
=.«
the city of B altonJreT for iniif2P‘y’ tujmel a m f A
under construction in more l ° ^ e rr^ad,fl’omClark8burg to Fairmoimt, W. V a ! and the Balti’
link between the main line of the Baltbiin1 a^ fvi> n' cul ? connecting f f i i r \ & k f s c o v e r m g g miles of roadfrom w e s t e n d o f t h e
rA rd
e
witb t
h
ihe T
staten Island Rapid Transit RR. to a junction
Phia branch. Its total l e V i t ^ f t f t S h t °w^°
W
M
6
wCen^ ® f ^ w Jersey RR. near Roselle,N. J
Junction
th e Akron & Chicago J unction 5 per cent bonds cover road completed
NÜ3ÏS3M
INVESTORS’
SUPPLEMENT.
________
O’01» LIn-
September, 1891. J
RAILROAD
STOCKS
AND
BONDS
*9
INYESTOftS’
1 6
[Y ou
SUPPLEMENT.
Lin.
by g iv in g im m ed iate notice o f any error discovered In these T a bles.
Ronds—Prinoi
INTEREST OR DIVIDENDS.
pal,When Due.
RAILROADS.
! Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
Dividend.
of
Whom.
F or explanation of column headings, «fee., see notes
of Bonds Value. Outstanding Cent. Payable
1
on first page of tables.
|Koaa.
N.Y., Gr’nd Cent. Depot Oct. 1, 1891
$50 $5,000,000 4 per an. Q .-J .
July 1, 1936
do
do
jSeeeh Oreefc—Stock (guaranteed 4 per cent). ...... - • 131
&
5,000,000
1,000
4 g. J. < J.
ILstmortgage, goldTguar. by N. Y C en tral....ctt, 131 1886
1891
fe
Extension mortgage -for $350,000 ^ . . . . . . . . . - •- - - - - - 1889
< J N. Y., Farmers’ L. < Tr. July 1, 1899
&
4
250.000
Jan. 1, 1940
SBeUaireZanesville < Gin —Pnor lienmort.,red at 105 102 1890
6
& J
4 '
738.000
J. & D. Philadelphia, Pa. RR. June 1, 1902
1st mortgage for $1,000,000...........................— • 102 1867
I 64
6
1 , 000,000
1,000
Treasurer, Trenton,N.J. Jan. 1, 1916
JteLvidere Dei - l s t M., ext’A in ’77, cony., guar...... c
J. & J.
7
722.000
1,000
67 1876
Various Philadelphia, Pa. RR. Sept., 1925-27
4
<Cons. mort. of 1876, sinking
V *®
1,250,000
67 1885-7 1,000
Cons. M. of ’76, guar, by Un. Co’ s < Pa. RR.,s. t . .r
fe
M. & N. N. Y., Union Trust Co. Nov. 1, 1897
7
475.000
1,000
59 1877
1,
Bennington < Rutland—
&
1st mortgage
•600.000
1% Q .-J . Stockbridge, Treasurer, July 1, 1891
100
22
Jan.
1927
ttprlcahire_Stock (7 p. c. perpet. rental Housatomc)
6 g. J. & J. New York and London Oct. 1, 1929
51 1887 500 &C.
BUlings G.F.d O’ke G —G e n .ls t M .s .f.r e d .a t 110,g.c
A. & O.
5
2,600,000
1889
Sept. 30,1891
Boston, Office,
Birmingham, Sheffield <£ Tenn. River—1 st m o rtg a g e
Q .-M .
2
Too 20 , 000,000
Feb. 1, 1892
do
B o Z n & A lb a n y- S to c k ($30,000,000 a u th orized )
F. «fe A.
5.000.
000 7
1,000
1872
July 1, 1895
do
J. < J.
fc
Plain bonds,notm ortgage...
.................... CB
<1
2.000.
000 6
1,000
1875
Apr. 1, 1902
do
A. < O.
&
Bonds of 1875 not mortgage
5
3.858.000
100
1882
July 2, 1891
Boston, at Office,
Bonds (not mort.) issued to State for its stock.. .r
3*3 J. «fe J.
5,529,400
100
Apr.,1892<&’95
do
do
Various
Boston & Lowell—Stock.. '
7
1,499,500
1872
July 1, 1896
do
do
J. «fe J.
Bonds,not mortgage..
6
750.000
1876
July 1, 1899
Boston & Maine gives
do
do
J. «fe J.
5
620.000
Bonds
do
1879
May 1, 1903
a rental guarantee
do
do
4^ M. «fe N.
250.000
Bonds
do
1883
1905-6-7-9
do
do
for 99 years.
Various
4
3.675.000
Bonds
do
1885-9
Oct. 1, 1897
do
do
A. «fe O.
6
200.000
Bonds
do
Oct. 1, 1898
do
do
A. < O.
fe
6
Lowell & Law. bonds..
226,900
Aug. 1, 1893
F. < A. Nashua, Co.’ s Office,
fe
6
Salem & Lowell bonds.
200,000
1873
July 1, 1900
do
do
Bash. & Low plain b’ds
100,000
5 g. J. «fe J.
1880
May 15, 1891
Boston, at Office,
M. «fe N.
4^2
.D o
do
100 13,147,900
Sept. 1, 1891
do
do
M. «fe S.
¿Boston & Maine—Stock.
........ v
3
3,149,843
100
Jan.,1893«fe’94
do
do
Preferred stock, 6 per cent, not cumulative
J. «fe J.
7
3.500.000
1873-4 500 «fee
Feb.,1905«fe’07
o&r
do
do
F. < A
fe
Plain bonds, not mortgage.
----4
1.500.000
1885-7 1,000
Feb. 1, 1937
do
do
fxnp’ntbonds ($1,000,000 due Feb., 1905) s. f . . .
F. < A,
fc
4
1.909.000
1,000
1887
Do
do
...............................................
S u b s c r ib e r « w i l l con fer a great fa v or
Western first mortgage 4 ^ per cents , $2, ^ 0,000 8tam
AA
8“
first
R a lt lm o r e & Potomac.—Owns from Baltimore, Md., to South End
ix>ng Bridge, Va., 43 miles; and from Bowie to Pope’s Creek, 49 miles:
tota? 92 miles—Including tunnel in City of Baltimore; leases branch 4
■miles- total operated 96 miles. Controlled by the Pennsylvania : R. Co.,
R
and first mortgage bonds guaranteed byPennsylvania and NorthernCen-
bv Pennsvlvania RR. Co. Sufficient consois are reserveu tu
prior bonds as they mature. In 1890, ^ oss,
oqq $462»849»
riitdIus oy 6P fixed charges, $33,107, against) $19,811 m 1889.
S
jm u a ry l to July 31, 1891 (7 months), gross eammgs were
$997,123, against $972,051 in 1890; net, $269,878, against $230,114.
$997,
D m Columbus < Cincinnati Midland.
&
toBp m p b S , e t o ^ i n e T & i ? 2 7 Siles®
^ ^ s c i l ’ yearn i l f 9
e
8eptemb4^30. A n n ia f report for 1889-90 was in
the N Y C e S i r a l I Hudson River RR. for 999 years at 4 per cent
«CHBOOTCLE V. 51, p. 7 1 2 , 7 1 6 ; see also p. 694.
IN CO M E ACCOUNT.
1889-90.
1888-89.
1887-88.
$
$
$
24,412,096
20,353,491 21,303,001
■Gross ear:
14,810,844 16,966,870 1
14,200,561
-Operating
IsO T'aJe $37 50« yearly, rad g f y ilr ij" jf m " " " i s M tS 'l 90™ Botli
7,445,226
6,492,158
K et earnings............................ ........ 6,152,930
1,509,837
1,265,861
Add income from other sources... 1,206,960
l,2 0 o ,9 w
8,955,063
7,758,018
7,359,891
Deduct—
_
.
304,419
jNet earnings Washington Branch.
F ix ed charges.. . . . . . . . . . . . . ------ - - 6,246,553
300,000
D ire, on 1st < 2dpref. st’k (6 p. c.)
&
6,850,972
508,919
Burplus......................... v , - - - i * r v
384,487
D edu ct payments to retire bonds.
357,651
6,208,562
300,000
376,172
6,417,599
300,000 8 2 9 ?V .5 2 , p. 80, 238, 321, 498, 570.)
6,866,213
891,805
372,487
7,093,771
1,861,292
481,058
Owns Bellaire, O., to B. <
&
. mile; les
519,318 1,380,234
•Earnings, 1889-90.— 1890, gross earnings were $98,589, net, $o,o4:i.
.
Gross.
Net.
D e la w a r e .—Owns from Trenton, N. J., to Manunka
r ^ i l r T n^iles^Fleniington RR. ,<fee., 14 miles; operated cut-off, 1
„Vi^ated 82
United
Mam.BMm,
N 376,172 mile, total operaxea,» mUeA Leased toearningsCompanies, and transS fcg t
502,594
paid as rental. Penn,
Washington Branch.. . . .
457,709 357,bor
157,780 fen-ed to
773,191
toe
3
The first mortgage
Parkersburg B ranch....
707,562 163,784
309,809 RR., Dec. 31» I S09« ® n a 111 of 4 per7 perbondssare guaranteed by the
1,408,214
new
cent
-Central Ohio Division...
1,255,751 280,138
271,397 (convertible into stock) anu new n
1,211,170
surplus over fixed charges,
Lake Erie D iv is io n ......'
1,177,519 283,178
385,258
2,603,445
M fe g ^ S E fe "
loS-.lo® 3,069,055 1,123,626
125,287
755,790
W
“ S t*
rny, M5.6S0aeyi.138 450,234 $50),’ all held by Penn. RR. Co.
,
.
1,696,841
__
,
j*- it ii« i» iw l —Owns from Rutland to Bennington,
16,124
178,584
B e n n ln g t o n .k R i i t l a n c L e n ^ ^ o n to New York State Line,,2
85,831
262,708
............
OoL < Cincin. Midland.....................
fe
miics^ S i 59 m U ei’
$1,000,§00 (par $50). Gross earnings m
w e r e ’$ 21^625 J net, $50,084; surplus over interest, $16,834,
Total
.......... „..2 1 ,3 0 3 ,0 0 2 6,492,158 24,412,096 7,445,226
In 1890 gross $241,684; net, $58,585.
__«V 50 p. VÔj 139, 351, 482, 559, 734, 800, 833, 874, 903; ’£ _ 5k 8 171.”239,^44, 405, 483, 537, 6 9 4 , 7 1 » , 714, 7 1 6 ; V. 52, p. 238, 462,
ixoi>ir«hire —Owns from Connecticut State Line to
B e r K s h ir e .
,.
T,eascd in perpetuity to Housatomc Railroad
*796, 831 ; V. 53, p. 58, 223.)
n a l t i m o r e & O h i o S o u t h w e s t e r n — (See M a p of Baltimore dOhio)__PlncinnathO., to Belpre, O., 193 miles ; branches—Marietta to Belpre,
11 m iles1 Portsmouth to Hamden, 55 miles ; Blanchester to Hillsboro,
2 2 miles;’ totalT281 miles. Connecting line for the Balt. < Ohio to Cinfe
Leaving a balance o f.................
124,431
,—
Eamings, 1888-89.Gross.
Net.
^ T h ^ Ô tocin n ati Washington < Baltimore was sold in foreclosure Sept.
&
A9 1889 and reorganized under present title by plan in V. 49, p. 82. _
nesseeCoal & Hon Co. H
^ pvnrn Tulv 1 1890, to May 31, 1891 (11 months), gross earnings
■were $2,150,564, against $2,126,232 in 1889-90 ; net, $751,394, against
^ ^ b r toe calendar years earnings have been as follows :
1.889.
$
1890.
$
A
A lb a n y .—Owns from Boston, Mass., to Albany, N. Y.,
ill™ W - U . 6 o i
t
j
, _
...2.177,957
2,329,445
D ross earnings........................................
1 499 648
1.517.793
Operating expenses............................................... aim,0*0
__
. „
678,309
811,652
Net e a r n in g s ......................... * 53:73g
54.000
Haxes and assessments....................................... ..........’
_________ S H 5,1891,P S »on ' s “
5
Tauuarv t e
ana
Jdiiudry o
Balancé
..................... . . . . . . 624,521
757,652
»
„ J/ " " Vo ’ T and fixed charges there Was applicable to the
After P ^ L M t nn the first preferred income bonds for the year
S M
Ä
Ä
many years,
per cent in 188b.
V 50, p. 138, 632 ; V; 51, p. 245 ; V. 52, p. 320.)
the Birmingham Sheffield
^ {0
.
S
t
Ä S «978 010.
Ä E
, ^ " i“ i
t
S
S
iqqi
»
*
K
September, 1891.J
-RAILROAD STOCKS AND BONDS.
Subscribers w i ll con fer a great
by g iv in g Im m ediate notice o f (
Miles Date
For explanation o f .column headings, «fee., see notes of
of
on first page o f tables.
Road Bonds
Boston < Maine—( Concluded,)—
6
Eastern RR.certs.of indebt.Tst M.,g.,s.f.,not dm ,c 119 1876
Portsmouth Great Falls & Conway ls tm o rt_ e
_
73 1877
Boston <£N. Y.Air-Line—St’k,pref. (gu.N.Y.N.H.&H.)
54
1st mortgage................................................ . ...... os
50 1880
Boston & Prov.—Stock, 10 p. o. guar. 99yrs., Old Col.
68
Bonds to purchase branches,coupon or registered
1873
Funding bonds, not mortgage, sink, fund 1890..C*
1888
Boston Revere Beach, < Lynn—Stock..........................
£
1st mortgage.................... . .............................. .. . . o
1877
Boston Winthrop < Shore 1st mortgage, guar*
fe
8 1886
Bradford Bordell < Kinzua—1st mortgage
£
c
41 1882
Bradford Eldred < Cuba—1st mortgage
6
4 1881
Brooklyn Bath & West Enel—1st rnort., series Ä " c
6*2 1887
1st mortgage; series B ..................... ............... ' j
1887
Brooklyn de Brighton Beach—1st mortgage
c
7^2 1887
Brooklyn Elevated—1st mort., g., s. f., not drawn "c*
6-9 1884
2d mortgage, gold, sinking fund, not drawn.. c*
6-9 1885
Union Elev., 1st M.,$550,000 p. m., g..................e* 10-5 1887
2dM.,inc., non-cum., $185,000per mile, goid.c* 10-5 1887
Brooklyn «6 Rockaway Beach.—1st mortem,«?«
« 3^2
Loan for $ 3 5 0 /0 0 0 .......
........
1891
Buff. Brad. (¿Pitts.—Gen. M. (10,000 acres 'land)'.' .'r 312 1865
26
Bum iv. Y. < Erie—Stock (7p. c. rent. N.Y. L. E.&W.) 142
£
1st mortgage.............................................
e* 142
1876
Buffalo Rochester < Pittsburg—"""
6
R. < P. 1st M., Rochester to Salamanca, 108 m o* 108 1881
fe
K. «fe P. consol, mortgage, $20,000 per mile, g c* AU 1882
ist general mortgage gold ($10,000 ,000 ) ..
o* All 1887
R. < P., Equipment b’ds (cartrust) in 5 series’ c*
fc
D Lincoln Park&Ckarl. is t M.for $350,000gu. g c* " l ï Yar’s
1889
Buffalo < Southw.—IstM.g.int.gu.byN.Y.L E «few c*
&
67 1877
INTEREST OR DI V ili ENDS
Size, or
Bonds—Princi
Amount
Par
pal, When DufV
Rate per When
Value. Outstanding cent. Payable Where payable, and by Stocks—Last
Whom.
Dividend.
$<&£
500 «fee
100
1,000
100
1,000
1,000
100
1,000
500
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
l ’,000
100
1,000
1,000
1,000
1,000
1,000
1,000
50 «feo.
Fiscal year ends now June 30, and report in V
„ « « « „j
,
. ,,
fono wing (see also editorial Y. 53, p. 270) :
’ P‘ 255’ showed the
INCOME ACCOUNT FOR YEARS ENDINO JUNE 3 0 .
1888-89.
1889-90.
1890-91.
I
$
$
$
Gross earnings.......................... 9 012 325
9,151,069
9,216,222
Operating expenses and taxes. 5,’975,607
6,276,777
6,807,751
Net earnings........................ 3,036,718
2,874,292
2,408,471
I?*®!®ft paid.............................. 662,900
662,900
662,900
78,000
78,000
Dividends (8 percent).........." 1,600,000
1,600,000
1,600,000
Total..................................... 2,340,900
2,340,900
2,340,900
Balance, surplus............... . ......
095 g i 8
533,392
67,571
7 1$;
vM
;
17
$9,209,520
1,000,000
2398,500
500.000
4,000,000
500.000
1.665.000
850.000
350.000
289.000
498.000
500.000
250.000
250.000
500.000
3.500.000
1.250.000
5.750.000
2.068.000
58,000
250.000
580.000
950.000
2.380.000
M. «fe S, Bost.,Mav’ok B’k < Lon
fe
J. «fe D Bos.,BlaokstoneNat.Bfc
A. «fe O N.H., N. Y. N. H.«fe H. Co.
F. < A, N.Y., Lincoln Nat. Bank
fe
Q .-J .
Boston, at Office,
«fe
do
do
«fe J.
do
do
«fe J.
Boston.
«fe J.
Boston, Office,
M. «fe S.
do
do
J. «fe D. Last coup, paid June,’ 84
J. «fe J. Last paid July, 1884.
J. «fe J. Phila., 122 So. 4th St.
A. «fe O. , ,
do
do
M. «fe S. Mar. ’90 coup, last paid
A. & O. N. Y., Cent. Trust Co.
J. «fe J.
do
do
i f : M. «fe N.
do
do
J. «fe J.
do
do
8 * M. «fe N. Brooklyn, 1st Nat. B’k.
6 g.
4*2
2
5
2^2
7
4
3^2
6
5
6
8
5
5
5
*7*
3^2
7
1.300.000
6 g.
3.920.000
f g.
2.421.000
5 g483.000 5, 6 «&7
350.000
5 g.
1.500.000
6 S■
J. «fe J. N. Y. L. Erie «fe W. RR.
J. «fe D. N. Y. L. Erie < W. RR.
fc
J. «fe D.
do
do
F. «fe A. N. Y., Union Trust Co.
J. «fe D.
do
do
M. «fe S.
do
do
Various N. Y., Gallatin Bank.
J. < J. N. Y., Union Trust Co.
&
J. < J. N. Y., First Nat. Bank.
&
Sept. 1, 1906June 1, 1 9 3 7
Oct. 1891
Aug. 1, 1905*
Oct. 1, 1891
July 1, 1893July 1, 1918*
July 1, 1891
July 15,1897"
Sept. 1, 1908*
June 1, 1932
Jan. 1, 1932
Jan. 1, 1907
Jan. 1, 1918Sept. 1, 1927
Oct. 1, 1924
July 1, 1915
May 1, 1937
Jan, 1, 1927
May 1, 1909'
Jan. 1, 1898
June 1, 1891
June 1, 1918;
Feb. 1, 1921
Dec. 1, 1922
Sept. 1, 1937
Various.
Jan,, 1939
July 1, 1908s
INCOME ACCOUNT.
1887-88.
1888-89.
1889-90.
T Dedac*—nClUd'g ° tber income 3,869,036
Rentals................. .
o qoo q« >
v
924*nvs
Interest on bonds....... ............
Other interest............. ................
iitla
........
l i 770
Sinking funds..........
Dividends............... ;...................
930''non
Eastern RR. proportion____ .."
’
4,579,667
4,963,978
2,933,517
356,941
109,853
37,095
630.000
436.000
2,576,381
580,544
150,757
100,000'
1,042.211
T o ta l....,.............................. 3,880,545
4,503,406
4,449,893î
Balance........................................Def.11,509
___ _ „ „ „
Sur. 76,261 Sur. 514,085
- ( V . 51, p. 276, 7 8 6 ; V. 52, p. 164, 321, 349, 795 V. 53, p. 21, 289.1
206* * 7 3 * 416' 457* 681 « V- 52, P. 322,
New Haven < Hartford RaUroad for 99 years nt a
fe
tbe New Yorfe
per year on the preferred stock and interest Sn Ih e h o rf^ d« Idend3'
î£
stock authorized $1,000,000; outstanding $838,000 ; par, $100?°m <>11
m
Tli© Connecticut & Passumpsio R R , is l©as©d for* qq ™ora
T
April ï , Î888;ib~bÎd*'c^lone R R ’a+
v
8i^^®8- Leased for 99*yeara*toS.
bonus of $1,300,000 cS h , o u to ?''which a ^ x t o a Vvidend°?f * 32^ 0^ *
tm January, 1897, ,«,1 8 p e l S t t e X f t a . 887 * 7 p e r ° W ° » MW# paid on stook May 2 , 1888.-(V . 46, p. 480 ; Y 49, p. 7m ) f $32 50
f
e
1892- » la proposed to tou ” S ? 0 0 0 ®
o f 7 per cent yearly
i8a7’
' !‘ Umg « W
, in 1888 and since at rate
ÎI90;
!°*U
841, t a , « , î l 2 , 8 0 4 f d S J ? , 9|i5
28â i o f ! y i ^ 8 ,1» i s s ^ ” 8*' ? 2 V
S i i “ ;5 S m J iy ”
^ iS S ® ; £
1884, default in interest was madefand in ’J^niLrv i
% S f mbeT
r(Eastern Railroad in New HamnsMre a m l^ n W ^ P?£tsa
moutb’ N- Hmouth), 67 miles; Boston to S^erhroot« n ^ « ^ m0/Sfclli8aco & PortsNashua < Lowell, Northern Now T
fe
rram™u?™Criliada i ? osto11 & Lowell,
and Massawippi VaUey raüroads? 2^0 miÎ «s ?
1ut t Pa8S™ P 8ic
^ n ^ f of
Wellsville N Y
ohester, N. H. (Worcester N
a
s
h
; Worcester, Mass., to Ro- 3 3 mues, or which 4 milesU uLa.—Operates Eldred to«aï.
no
owned. Stock *480 non •
'r fl Y'
bridge hrn/nnhàc to°Nortlmmpton& mass. (Central 1Massachusetts^, ao
Junction qaa
Mass f i t ^ , w1 8 ; £ ortb Cam‘
®
milfia •
.
, \
Y o i . ^ y . 4è, p |’3 7 8v . 5l " ï .
m
S1
,“
’ R«ce,™ r. 88 Broadway, Now
$4,656^400* rmw ^stmfiiFat^ m r.2^The ^termsr?nctode61 t0 8ubt8 ibe to
,T
â h a » ff3 îro >
4 m
stock is issued to fund the f l o a K d e h t
!*ock wJn
iss"ed. This
See V. 52, p. 164, 349 The eomna ,r ? iL ^ d to W K for improvements,
gT
outstanding will be $17,802,30(?any 8 oommon stock when this issue is
Dividends on common stock since 1880 -—Tn i s s i
1 oqk • , ,
per cent; in 1886, 9 ^ ; in 1887 1 0 'in 1 s s s ^ 1 L n I 88.5 inclusive, 8
W , November, 5 ; in 1891, May 4 ^
88 and 1889’ 9; m 189°? May,
b e e n | a i S c de l8 8 7 .(f° rmerly Ea8te^n Preferred) 6 per cent yearly has
A “ » « c ki v " * “ S 't ? a ? t 1 í ■ n e ^ • í f >Wn,
COM from.
S w S h n s C y 1 &8Lake Chlmtoaln Rfn% ahteThCertain bonds of
“’
E& nS tpr i en 4 ^ ^ ^
8
£ ^^
also $ 1 0
8 '0 0
were $10,8is,751, agains/ $“ 0 570
8)’ gi° i% earnings
against $3,558,900; furplus^W er^chSs^^ sq8«? oa9«?; 2 #* §3,559,59%,
Report foy year ending S e X m h A v ^ f 1 a fn 99’ 24? ’ Majnst $764,263.
P.
51 B ^ g ^ a ^ o r ^ S t o T e t * ^ * ^ ^ 18^ 0111^ ^ 011 Ferry and Brooklyn?
EARNINGS AND EXPENSES.
w«,
. .
Miles operated............................
Earnings— -
1887-88.
^ 209
’^
S T
' .........*.......................... 6,489,565
Mail, express," '«feo.V. '.*.*.!!!!'.
5'534’ 385
Tatal,gross earnings..................12,724 519
Operating expenses and taxes.. 9,241*762
Net earnings........................ 3,482,757
1888-89.
1,210
$
885,048
6,203,431
573,329
1889-90
1,210
$
Brooklvii R r l n l ^ fl
bond8 at 1 0 5 -n o bonds (¿awn. Th&
7,347,201 L t o ^ e l i n ^ o f t h f s ^ i m p f e C mpany wa8 or« aillzed in 1891 t o
°
7,118,583
625,907 i2 ,5«
|
«
f
a ,
13,661,808
9,479,465
1 0 ,5 6 7 ,2 1 3
4,182,342
4,524,478
15,091,691
$TO6^'^H*riutereft on^oTids1* « ^ ^ ''? !8 earnings were $1,759,208; net^
1» 1889-!)0
HTVESTOBS’
SUPPLEMENT.
[Y ol. LIII.
S eptem ber,
1891.]
RAILROAD
STOCKS
AND
BONDS.
19
Subscribers w i l l confer a great fa v or by g iv ing ininio<ii»t«
„„„ „
~
"
--------■
------------- --------------------------------- ----------------r B lu u g im m ediate notice o f any error discovered In tbese T a b les.
RAILROADS
IBonds—Prinoi
INTEREST OR DIVIDENDS.
Date Size, or
For explanation of column headings, &c., see notes
Amount Rate per
pal, When Due
of I Par
When IWhere Payable, and by ^Stóchs^Laai
on first page of tables.
Bonds Value. Outstanding Cent
Payable)
Whom.
Dividend.
-Burlington Cedar Rapids < Northern—1st mortgage
>
6
$100&c. $6,500,000
5
J. & D N. Y., Central Trust Co June 1, 1906
Iowa City & West., 1st M., red. at 105, guar.......c
, 1,000
584.000
M. & S
do
do
Ced. Rap. I. F. &N. W., IstM. g., guar., red. at 105
z * A. & O
Sept. 1, 1909
1,000
825.000
do
do
Consol. 1st mortgage, gold, guar...... ............... c
Oct. 1, 1920
i gI 1,000
1.905.000
5 g. A. & O
do
do
Consol. IstM . & collât, trust, g., $15,000p.m.c*<fcr
Oct. 1, 1921
l.OOO&c 5.313.000
A.
O
do
do
Minneapolis & St. Louis, 1st mortgage (assumed)
Apr. 1, 1934
H g‘ J. & D
500 &c
150.000
&
'Calgary & Edmonton.—1st M., red. at 110, Julyl,96
do
do
z *•
June 1, 1927
£100 £1,140,400
& J
6 gCalifornia Pacific—1st mort., gold (ext’d in 1887..
London.
July 1, 1910
1,000 $2,232,000
4 12g J. & J N.Y., S.Pac.Co., 23 Br’d. Jan. 1, 1912
2d M., gold, endorsed by-Cen. Pac., exten. in 1891
1,000
1.600.000
41 g
c
J
3d mort., g., guar.by Cent. Pac. ($1,000,000 are 3s)
do
do
Jan. 1, 1911
500
2.998.000 3 g. & 6 g
J,
Cam bria < Clearfield—1st M. for $2,000,000 g..c*
&
do
do
July 1, ig0 5
1,000
750.000
5 gJ. Phila., Of., 233 S. 4th St. Jan. 1, 1941
Camden < Atlantic—Stock ($880,200 of itp ref.)___
&
50
1,258,100 3onpref,
1st mortgage (extended 20 years in 1873)____ .c*
Phila., Of., 233 S.4th St. Dec. 9, 1889
1853
1,000
490.000
J. & J. Phila., Farm. & M. B’k. Deo. 31,1892
2d mortgage........................................................ c*
1879
1,000
497.000
A. & O.
Consol, mort. ($150,000 are 5s reg., int. at office) c*
do
do
Oct. 1, 1899
1881
1,000
500.000
5 & 6 J. & J.
Phil. Marl. & Med. IstM. gu,red. aft. July 1, ’96 c
do
do
July 11,1911
1891
1,000
100.000
5
J. &
Camden & Burlington County.—1st mortgage___o
Phila., Of., 233 S. 4th St. July 1, 1911
1867 500 &c.
350,000
6
F & A Phila., Penn. RR. Co. Feb. 1, 1897
Canada Atlantic—1st mortgage, gold
........
c’
1889
1,000
3.450.000
_
Canada Southern—Stock.....................
5 g. J. & J
New York City.
Jan. 5, 1909
100 15.000. 000
1^4 F. & A N. Y., Gr’d Cent. Depot. Aug. 1, 1891
1st mort., interest guar, by N. Ÿ. C. & Hud. RiV c
1878
1,000 13,923,600
5
J. & J N. Y., Union Trust Co. Jan. 1, 1908
2d mortgage...................................................... 0<
fcr
1883 l , 000&c 5.349.000
5
M. & S,
Canadian Pacific—Stock (guar. 3 p. o. div. till ’93)
do
do
100 65.000.
000 2*3 F. & A. N. Y., 59 WaH St. & Lon Mch. 1, 1913
Can. Cent. RR. 1st and 2dm orts.,lstM .s.f.,dr.atl05
Aug. 17, 1891
£100 &c
1,823,333
5 & 6 Various
Quebec Prov. due on Q. M. O. & O. and N. S. RR.
Montreal,
1899 & 1910
7,000,000
5
A. & O.
Can. Pacific, land mort, gold (redeem at 1 1 0 )....
do
1902 & 1904
3,438,500
5 g. A. & O. Montreal, N. Y. or Lond’n Oct. 1, 1931
1st mortgage debenture sterling.......... .
34,998,633
& J. London, Baring B. & Co. July 1, 1915
1st mort, on Algoma Branch_ ____
_
c*<fer
I g£750,000
J.
5 gLd. gr. bds, not dr’n, int. gu. by Can. Gov’t. c*&r
do
do
July 1, 1937
$15,000,000
3*3g. |J. & J.
Consolidated perpetual debenture stock
do
do
July 1, 1938
£2,483,375
4
J. & J. London, Comp’ys office. Irredeemable
Manitoba S. W. Col. R’y $12,000 p. m., int. guar.g 213
1,000 $2,544,000
5 g. IJ. &
N. Y., 59 Wall & London June 1, 1934
Atlantic & Northwest—1st mort, gold, guar. .c*&r 325
£100 &c £1,330,000
J. &
North Shore Railway—1st mortgage.................. .
London, Baring B. & Co. Jan. 1, 1937
£99,600
5g
St. Lawrence & Ottawa—1st mortgage............’ .**
do
do
Apr. 20,1904
54 1876 £ 5 0 &c
£ 200,000
(6) 4 15J.&D.
London.
June 15,1910
■ 95,942. Henry W. Putnam, President. (V. 50, p. 138 245 707- v*
‘$
51, p. 207, 608, 715; V. 52, p.’ sO, 280, 762; V. 53, p! 256.)
’
’ T w h in h ^ iu ™ ^ Usii Co.mpaayi8 trustee of the consolidated mortgage
pri°-r and divisional bonds. Stock outstandtogbi
.
B r a d f o r d & P it t s b u r g .—Owns from Carrollton N Y
$5j500,000; authorized issue, $30,000,000; par $100
g 1
8
to Gilesville, Pa., 26 miles. Completed in 1866, and leased to New « ^ o m JanuaiT 1 to July 31 in 1891 (7 months) gross earnings were
York Lake Erie & Western for 499 years. Rental 7 Dercent<vn out $1,880.264, against $1,644,177 in 1890; net $513,155 agst *363
standing bonds, $40,600 a year. Capital stock, $2,286,1*00; par $100.
Annual report in V. 52, p. 640, gave net inoome, &o., as folilw sT’ 568*
nif^Uv av °
& E r le .—Owns from Buffalo, N. Y., to CorINCOME ACCOUNT.
nmg, N. Y., 142 miles. Leased m 1863 to the New York & Erie for 490
n . ,
1887.
1888.
1889.
1890.
Receipts—
$
pan v’ a Rent°a7
by-tbe
York Lake Erie & Western Com
$
$
$
Ss'rJon
$238,100—viz., 7 per cent on stock and bonds and Gross earnings.......... 3,005,962
2,848,076
2,986,543
3,303,982
by the l e s s e e ! * atl0n exPen8es. Dividends and interest paid directly Net earnings............. 780,057
771,447
808,609
816,147
Other receipts..........
95,789
61,282
96,308
____________________
105,256
l i u t i a l o I t o r lie s t e r & P it t s b u r g R a i l w a y .—(See Man i-O w n «
Rochester, N. Y., and Buffalo, N. Y., to Walston Pa iexcentX'rniieT^?
Total income....... 875,846
832,729
904,917
921,403
h e deducted), 215 miles f branches to
6/
Disbursements—
S1
™68’ 12 miles. Proprietary roads ow ned: Lincoln Park & Charlotte Interest on debt........ 767,127
771,130
771,130
775,479
Perrv R R11) ^ ife8 5T V a n v ^ S r 1 6& Punxsutawney Railroad, 25 m iles; Const’n, equip., & o... 140,067
1
247,669
154,128
150,314
T
i
r
n
e
t
i
Il® York Lake Erie & Western, Howard
w
Junction, Pa., to Clarion Junction, Pa., 36 miles: Buffalo Creek 'RailTot. disbnmem’ts 907,194
1,018,799
road, 4 m iles; total operated, 304 miles.
oreeK KaU
925,258
925,793
Balance..................... def.31,348
This company was formed in March, 1887,
def.20,341
(V. 48, P:
5 2 def. 4,390
,T 6 4439S
o
, 1890, a controlling interest in the stock was purchased bv a « n 3 uf o r i?ia P a c i f i c — Owns from Vallejo, Cal., to Sacramento fni
^,1
r w ^ ° syudl?ate> headed by the Bell, Lewis & Yates Coal Mining 60 miles; branches to Calistoga, &o., 55 miles; total 115 miles T *
n
Company, which company guarantees to ship over the road for the nex!
than 500,000 tons of coal annually. The Rochester Rentai^RROo^ non’ per annum and P ” 8 to Southem Paciflc Companv
"® atal>$600,000 leased for W three-fourths of net earnings w h S
.■n.^1 8burg C°al & Iron Company also, whose entire stock is owned bv excess of that amount. Capital stock, $12,000,000; par ^SloO^Tii
^
See V°50?pny560, 5 8 9 ^ ° V6r * not 1688 tban 75d>000 tons y e a rl/. 1889) grenta?a«fiiu!oon m8 e -+Z2 , ne^’ $509,346 (against $484,694 in
9
^i
(deficit to ;l©ssee, including betterments <1oq
R
^ The preferred stock is $6,000,000 (entitled to 6 per cent dividends p978’6 P910?atei'est’ eto-’ $364,922; surplus to lessor, $235,077.—(V. 5l',"
non-cumuiative) , and common stock, $6,000,000; par $100.
yiaends’
Union Trust Company of New York)
C le a r fie ld .—Under construction from Cressn-n nn
d^at^e^i1 '^iyailT? UU- into the coal fields of Cambria, Clearfield and In
8
mana counties, ^nnsyiva.nia. Stock-authorized. $2,150,000 (par $50p
are frAe
a11 9wned ,b y
Pennsylvania RR. Co. The bonds’
U n ite d M « ? 1
1Daposed by the State of Pennsylvania or th !
# 2 S ” 3 9 Ä Ä 2 , Ä 3h 9 o f ìefc * 6°l?ì
Jim© 30. In the following tu© nerures ror ihhq Qi —(V 5 2 Stp *973 976 )* ab8tract o£ tbe mortgage was in V. 52, p. 976?
l*
Receipts—
■Other income.
1887-88.
$
.. 2,001,156
. 447,671
30,934
Total receipts... Deduct—
Interest on bonds... .
Int. on floating debt¡.
1888-89.
$
2,021,591
574,826
15,969
1889-90.
$
1,913,172
674,697
45,974
1890-91
$
2,419,407
763,417
30,673
478,605
590,795
720,671
794,090
400,350
14,818
74,431
437,452
4,992
74,099
488,650
700
144,125
496,357
15,841
160,543
r i r ? 8 l i ? | f l o ° /w terr64 Btoct’ and " «
«
W
’ oomiTy
Dividends since 1880: On common, in 1882 3 per cent anri t,
„
in i882> 4; 1 1i884«V; ^ i8 8 7 *
1
ir o m January 1 to July 31, 1891 (7 months) ffross
nr*
M i i S B s „ S ‘f 5 i 8 r re ®424471' aeai,ut ®43<^ 42
.
t 4
516,543
633,475
672,742
sur.74,252 sur. 87,196'
*121,348
lo o fio n J ? 18? ° ^ros8 earnings, $799,491; net, $130,705 interest
*Of this amount $46,886 was spent for betterments &c
? I’l l 9’ V 52,C 569’ ) 8
?
pa
.
’ $25’959; 8arP
lus>$12,12’6.—(V?50,
President, Arthur G. Yates, Rochester, N y
’
- ( V . 51, p. 240, 645, 8 2 8 ; V. 52, p. 239, 707; V. 53, p. 224.)
Camden & B urlin gton County.—Owns from CamriAn -m t
Pemberton, N J 23 miles; branch, Burlington, N
to Mount m ih l
N . ^ , ^ 7 1mUesS° ? n J m vS
1880
to Jamestown,
3 489,599
.def. 10,994
f.
v
eaty
$265,809;’ net, $76,745,1rgam st $ 6 7 , 6 5 8 * ^ 8 9 ^ 2 to l2 e \ 8
,$32!330’
Valley RR. owns $235 916), and $47l\8 o f f p e r L n t p ?L rred ^ Z y i A9 ^ n lA a T i . ? n t1 *—0wn8 Ottawa, Canada^, to Rouse’s Point v t i
W
A ,
lc
$100. Common stock shares dividends «.fton
piererrea, par,
1889 and 1890 paid 8 per cent on prefe^ed and
Pr„
eferredand ®S o f^
9r?ute24Exten1891, March 7, 7 on preferred?
P^ierred and 1 on com m on; m s^on t o p i ° ° s ? a® i t h e c S d i a n p!ciflcn
o p lr a t e d ^ o m ^ u r h n ^ “ “ ^ , t o
A l b e r t * “ Mhin^
? h
189iV
73 m iles; Clinton DivMod, 81 miles^D^COTahVhv^n^1 M? teT a'
^
Faffs Division, 430 m iles; Waverlv D i S fl
■ ’i £ m ll?,8 .I(?wa
+ -;
7 miles; total operated, 1,046 miles of whiV-b’ ^
’ forest Division,
miles leased, since edd o f fiscal^ye’£ ^the^ Davenport6?
644
Cedar Rapids & Clinton and the Chicago Dec^rah &
tbe
-jS ? 2 ? 1 8 7 6 . ^
Burli^
Cedar*^R.pw!1 *K S a ° , foreclosed
^
In year ending Tnn a ^ 0° i 2’qa ° comm°u, and $1,000,000 preferred.
°
« 22^ lif t 6
30’ 18m9’. gross earnings were $567,235; net
$225,146. In 1888-89 gross, $515,372 ; net, $208,202. (V. 51 p 493 )
BridgTtoa Windsore O n r L
99«
ROAD-Main line from Cantilever
4f
* no™1 O^ulbam & Erie, 7 ; Canada Southern Bridge & Ferrv’
?'
Canada**?5^ f n t v rn & Detroit, 56, and Michigan Midland *
= ; ® £° l al °1 uj1 Unes operated, 436 miles, of which 105 miles
i
zations.
^ owned by proprietary companies under separate organi-
F ^ u u a rv ^ d\iffi^ta^1I fi?h+1^ a^ .Oompany w a s chartered in Canada
1
I n t e r e s t ^ fh 0
and debt readjusted by Act of Parliament in 1878
RR Cb fin sofi18t. mortgage is. guaranteed by the New York Central
1
1882 a
battbe Principal is not guaranteed. In November
from’jan^orv i Yeoq was laade with the Michigan Central for 21 years
^rn "Road are endorsed (endorsement^is'on the bnnd^aU io ^ 0rtllwes1: S T n i - S T . A 1’; ^ 83’ Provldmg for the payment to Canada Southern
+
bonds are subject to call at 105. Of the 5 per cents « 89^; non
per cenl
1 = tbe J°mt income over all fixed charges, but Michigan r?n
J,
d
o retire the e per cents. The c o 4 a S y P^ S f f t t t
thirds ^ reduotlon of lts interest charges, now receives more than two-
«O
INVESTORS’
______________
X^, T —
________
RAILROADS.
For. explanation of column fa d in g s , &o., see notes
on first page of tables.________
Canadian Pacific—( C oneluded.)Ontario & Quebec stock guaranteed...... .............
Ont. & Que. debentures, interest guaranteed........
Toronto Grey & Bruce, 1st m o r t g a g e . ^ . . . . —
SUPPLEMENT.
^
-
f
W goiu...
Consol. 1st mortgage (for $2,850, w u ) gold6rre.^c
l i t M'.’s Jota’nYal. Br’ rg.(s.f.$50,000)not drawn
U. 8. Loan (2d lien on certain terms) gold............
^
■
-
■ ■
[V o l . 1 Iti.
■ ■ • ■ —
divinar im m ed iate notice o f an y error discovered In these T a b les.
Bonds—Prinof
I
— ------- ----------------- --------- 'pal, When Due,
Size, or
Amount L te Ber when Where Payable, and by Stocks—Last
Par
payable
Whom.
Dividend.
Value. Outstanding ,K^ X
$100
^ s ^ ^ S e f ‘‘Ba^ i S K m J ( f d o f f i s 'm j V & r
i Vnort ¿erie’s C, (2d mort. on 225 miles.). .c*&r
Carolina dent.—1st M. (Wilm. to Shelby, 240 Ttu) -0^
2d and 3d mortgages, gold, income, non-ciimid.^
Carolina Currib.Gap &
a',id «<C.” .
Carson & Colorado—1 st M., Ser. A,
osqaa aaa
Carthage < A d iron d ack -1st mort. for $800,000...
&
2d mortgage for $800,000........
- - - --- *v tt”
Catawte8<Xr-rTet. stock, 7 per cent. guar. P. & R -...
f s t n w i l g i ^ assigned by PWiadolpbia &
—
¿100
1883
1886 $1,000
1,000
1886
1,000
H . 1886
1,000
240 1881
1,000
240 1881
1,000
1882
'81-’ 88 1,000
1,000
1883
1,000
1889
50
1870 500 &c
1882
'■*30
1866 500 &c
1,000
1865
1,000
1879
>66-7-8 1,000
1,000
1886
1.000
1889
1891 500 &0
50
1,000
1886
100
737 1865-8 1,000
1,000
146 1870
737
June, 1891
per an. J. & D. Montreal and London. Irredeemable.
$2 ,000,000
Various London, Morton, Rose. July 26, 2882
5
£4,007,381
Toronto and London.
J. & J.
4
£719,000
Farm. L. & Tr. Co June 1, 19161
$1,500,000
6 g. „ & D. N.Y., do
June 1, 1916do
734.000
6 g- J. & D.
June 1, 1916do
do
J. & D.
820.000
6 g.
Balt. ,F’mers>&Plant. Bk July 1, 1920
2 ,000,000
6 g. J. & J.
1910 & 1915
J. & J.
2.700.000
6 g.
Nov. 1, 1912:
New York City.
375.000
6 g. M. & N,
1911,-’ 13-’18
New York.
J. & J.
6
4.380.000
M. & N. PhiLFidelitylns. &0.C0. May 1, 1923:
6
771.000
Feb. 1, 1925
do
do
F. & A
6
153.000
May 19,1891
3.200.000
3ia M. & N. Philadelphia Co.’s office Feb. 1, 1900
Phila., Phila.& Read. Co.
F. & A.
7
1.300.000
Feb. 1, 1902*
do
do
F. & A.
6
230,500
52 Wall St. July 2, 1891
589,110
4 ia J. & J. New York,July, 1887. Jan. 2, 1907"
J. & J. Last paid
7
1.377.000
May 1, 18951.600.000
6 g. M. & N. N.Y.,195 B’y & U.Tr.Co May 1, 1895do
do
630.000
7 g. M. & N. U.8. Treas., at maturity. 1896, ’97, ’98
6
1,600,000
Oct. 1, 1900Boston Co.’ s office.
A. & O.
5
2 , 000,000
Sept. 1, 1939
2.500.000
6 g. M. & 8. Phila. Fid. Ins. & Tr. Co.
1991
New York Agency.
4 g. M. & S. Balt., at B. & O. office. July 31,1891
(i)
J. & J.
3
2,860,048
M. & 8. N. Y., Union Trust Co. Sept. 1, 1930
2.500.000
4*2 g
Aug. 1, 1891
F. & A. N.Y., S.Pac.Co., 23 Br’ d. 1895,’96,’7 &’ 8
1
67,275,500
do
do
25.883.000
6 g. J. & J.
Oct. 1, 1900
do
do
6.080.000
6 g. A. & O. United States Treasury. 1895 to 1898
25.883.000
6 g. J. & J.
first lien on one division of the road and a second
£e°
s r s K - t o 8^
the O th e /
^ V A f c e \ r ^ o a d Unfe o S
r
^
(against $407,000 in 1889); surplus of former^ y e a r s , ^ 215;733 ;
$613,045; d iv id o n d s (2 ^ p e r
,’ $540,870. For latest
for 1888 surplus was $33^ 161, tor
s v
’4§ p. 825 ; V. 50, p. S t u S f e S o ^
reports of earnings see Michigan Central, iv.
>
8 3 3 904; Y. tu» p. 909; V. «-7 p. — '
33*
; V. 51,
> » . 52,
0 ; OUtTntvd
891
gross
338
C a n a d ia n P a c i ^ ’^ ^ o o l ^ b i a ^ O O ^ ^ e s ^ ^ e re \ re °b ra n ch e 8 I°0From July iinf189 ’3to^ A u g '^ ^ ’(^m onths)miles inearnings on $30,l,
’
, .%g8 994 on 333
1890; net,
the Pacific Coast in British C01!™
’ ;.
and 1,702 miles of leased
and auxiliary lines owned o f o n e r a t e d independently for ac- 86568‘i"ainst $33’?547. ?n y e a f ending June 30,1890, gross earnlngs o n
line; 56 miles used jointly; 549 m
ü e i rr p
under construc- I 78m ilesw ere$456,618; n e t , - ;fioUri>1U8overcbar^e8’ $38,978.
1 1890-91 gross,
j
, t
count of owners; als<0
Calgia]J vstem including the New Brunswick In lOi/v uA gtvooj $589,832; net, $239,562.
tion, 300 miles, making the whole system, mcmamg ^
? 9 9 ) Th6
C a p e G ir a r d e a u S o u t h w c l . r n . - S E E BT. LOOTS CAPE GIR.VE-
ainrrndoT»
s
fo S ™
opened" ^ o ® ° R U
^
a S
ey
^ Ä s ä v . 51,
l6ln a S , N
1
8
9
1
,
Ä s
Centralf or the running of through freigh ttra
Ä
Ä
B
Ä
Ä
ln Ä
A
over S w e s t 8h°or!
across the St.
Ä n n e S
charter from the immiffion of Canada.the^GovSnmmit $25,000,000 in
contract in
to be fit for settle-
(V. 5oTp. 662,735.)
- „
g
—Owns road in operar
of 3 per cent dividends per a n n ^ tiU Au^i8 8 4 9fä®* 8%; in 1885,35%® Augusta ana tnu m b e r la n d O&p x o i i l c a g o .projected to Abbeville,
C a r o lin a C
Prfc?
ih 1889, tion from Aiken to Edgefield, S. C., ^4 miles, aim g ^
receiver of the
42 miles additional. Leased from May , per annum. ^ 31( 1891 (3
South CaroUna Railway. ^Rental, $18,750
a ^ u ^ There are also■|
«
a
to 1889 inc?usive??pe? cent yearly; in 1890, B o $375,000 second mortgage bonds. From
wWch 2 ? e r cent was supplementary out of earnings; in 1891,5 (of StoatM , g r o » e a r o t n g ^ B e n s o n M
i u e . ,
Ca
g e <k
®4oO. The Magnetic Ore Comrelinquish its exclusive right to ,, N. Y. rth amiles. ^ A f o n d a c l c .
,43
Stock $5M,000, par $10^
year ending June 30,
b i l d and S a t e in
T h lÄ n d s
! S £ L ^ . p e ., « 2
C a ta w is s a .—Owns from Tamanen >
-^ ^ miles; total operated,
m iles; branch, Summit StationtoSilver
,
years to Philadelphia
97 miles. Leased from N o v ^ ? 1 ^ 7 ^ g 9 ^ $ 8 , 0 0 0 a year for
& Reading. Rental, ^ per cent of gross e a ^ ^ g ^ lessees. There arecompany expenses. Funded
7 p6r oent construction
also ohattel mortgage
due 1900 $24^0 ,
p $185)000. Seven per
bonds due June 1 , 1917, $62,000^ n a
*2,200,000 is first
cent is guaranteed on the p
4gq 500. nar $50. (V. 48, p. 799.)
preferred. The common^stock i s $ l ,159,^ o >
°mT^u^ uelianIia Rlver t o
Cayuga & S u s q u e h a n n a .
® in 1899i Leased till then toUelawafe Lackawanna * w S e m a? a rental of $54,600 a year. DivlJ e id lo n capital, 9 to 9 ^ per cent p e r a n u m .
.
Cedar
C ed a r F to Minnesota ^ teW ne, 76 mUes.
+ sm
te
Falls, Iowa,a lls & a*1“ 1 ?ailt Line0 76 mue^ ¿eased to Dubuque of
minim(im renfal <
8 7J
^ a
to annul the
I & 5-4 ot m ii99 in Sioux City for 40 ^ ar? 1887 a suit was broughtcircuit Court lease o f
$113,370 per annum. In
was 01 g
decidedOHEomoM. y . 52, p. 760, ?his road, and n October,1890, the Umted States^^rc
lease was valid. S ^ ^ 5 i, p . ^ o defaulted January, 1888.
------ 797, showed the follow ing:
18gg
*1890.
1889.
5,568
S ST S b& w w «»
0e“tol5,029
Miles operated December 31.,
5,075
$
$
- Earmngs—
*
Rft, 4,520,741
4,774,714
10,106,644 were $54,747, against $50,529 m J - 8 » » , «
8,852,202
1,671,171 $31,961 In 1889-90 g o s s earnffigs were $27,9 ^ deficit under oper1,657,717
President, ^e^T
Mail, expr’ ss and miscellaneous 1,377,338
4„^
16,552,529 ating expenses a»d ta^e8 « ’427 1
rr«+Q.i earnings.......... .........13,195,536
Anrnhifrs
15,030,660
{rom Atchison, Kan., toTotal
qoa 761
9 024,601
10,252,828 York. (V. 51, p. 493, V. 52, p. 4 /.)
Operating expenses.................. 9,324,7bi.
C e n tr a l B r a n c h U n io n
*
Atchison Colorado & Pacific, 254
m a ^ e e 34 miles; total operated,
6,299,700 Waterville, Kan.,,100 nnles, .
6,006,059
Net earnings............- —
• 3,870,775
miles; Atchison Jewell C o u n t y A t c h i s o n & Pike’s Peak RR61-94
60 0 4
70-66
388 miles. This company was forme y
Controlled by Union
Per ct. of oper. exp. to earn gs.
and had a Uidted States s u b ^ y ^ | l,600,000. ^ frQm ge
1885 ;
INCOME ACCOUNT.
1890.
1889.
1888S
*
fsT l,000,000 (par, $100), of which the
$
$
6,299,700 Union Paoifio owM $858,800.
earnings were $361,975 in
6,006,059
4,246,617
|’^ ’351
Net earnings............. .
3,779,133
From Jan. 1
073. against
Fiked c h a r g e s . i , - - V------ 3,o**,<k>
i
a
1,300,000 1891, against ^650,271 in iaon • ^te|^fo^e ’$250,417; $192,665. In
650,000
1890 ’
deficit under
Su^piem^ntaty dividends
.........
adian Pacific grant and
ä
ä
1Ä
,7 months) gross earnings on
S
sI
p
326,424
1,576»926
753,083
Balance.
‘In clu d in g New Brunswick Raiiway since September l .
—(Vi 51 p. J.72, 239, 534; V qI. 52, p. 570, 608, 7 6 0 , 776, 7 9 ".)
* V a j i r i n V a lie v .—In operation froin Wilmlng^
Cape F e a r *
; Fayetteville, N. C , to Ben
toSn, 5r.
Sn®t^ v% i.anch, 19 miles; Madison and
nettsVille, 8. C., 57 iidles ,
f i l e s ’ The first mortgage (trusO T 'S h r ^ s e r i e s ,e a c h series having a
siffid en treE S l to p a , lntere.t-
S eptember, 1891.J
R A IL R O A D
STOCKS
AND
BOUNDS
«
2 2
INVESTORS’
SUPPLEMENT.
subscribers w ill confer a great favor l>y g iv in g im m ed ia te notice o f any error discovered in these t a b le s .
\Bonds—Princi
INTEREST OR DIVIDENDS.
pal,When Due.
RAILR O A D S.
Amount Rate per When Where Payably, and by Stocks—Last
Outstanding
Dividend.
For explanation of column headings, &c., see notes
Whom.
Cent. Payable
v
on first page of tables.
$111,000
$1,000
6 g. J. & D. N.Y., S.Pae.Co., 23 Br’ d. Dec. 1, 1895July 1, 1899
Central P a cifi* -( OoniJ-Western Pacific, old issue
do
do
2.624.000
1,000
6 g. J. & J.
1st mortgage, series A & B., g o ld ......................
Various United States Treasury. 1895 & 18991.970.000
6 g- J. & J. N.Y., S.Pae.Co., 23 Br’d. Jan. 1, 1918
Western Pacific, Government lien
— -----5.982.000
1,000
5 gCal. & 0 . 1st M., ser. A, g. (exte d) |
5.858.000
1,000
6 g. J. & J. N.Y.,S.Pac.Co.&London Jan. 1, 1892
Oct. 1, 1900
do
do
4.258.000
1,000
5 g. A. & O.
LMid grant 1st M., gold, guar., extended in 1890.
N. Y. & San Francisco. Apr. 1, 1930
11, 000,000
1,000
5 g- A. & O. N.Y.,Sec.& Tr.Co.& Sav, June 30, 1891
Mort. gold, 5s, 1939, Id. gr.,guar., s. f., not dr n .c ,261
7.500.000
100
31a J. & D.
Central KB. & Banning C o.of Georgia—S tock ..---J. & J. N. Y., Security & Tr. Co, Jan. 1, 1893
7
4.999.000
1,000
620
(ieneral mortgage *‘tripartite bonds. -- . - - - - - - -o
Apr. 1, 1937"
do
do
1,000
5 g. A. & O.
(1)
311
Consol, mort. for $13,000,000, gold, red. at HO.p
May 1, 1937
do
do
4.880.000
1,000
5 g- M. & N.
Collateral trust bonds, gold, redeem ableatl 10 .c
After July, ’91
Savannah, Ga.
J. & J.
6
4.600.000
100
Certs, of debt, payable at option after July, 1891
J. & J. N. Y., Security & Tr. Co July 1, 1920
1,000,000
1,000
5 g.
Mch. 1, 1920
Savannah, Ga.
Ocean SS. Co. 1st M., guar............................. y---®
M. & S.
o
250.000
500 &c.
17
Savannah & Atlantic 1st mortgage, assumed... c *
N. Y., Office, com er \ Aug. 1, 1891
Q .-F .
1^
22.367.000
100
Nov. 1, 1902
Cent. RR. o f N. Jersey—Stock ($30,000,000 author.)
M. & N. West & Liberty Sts
7
1.167.000
1,000
Bonds, secured by consolidated mortgage of 1874
July 1, 1899do
do
Q.—J•
7
3.836.000
1,000
Consolidated mortgage (now firstmortgage) . -C
May 1, 1908
do
do
M. & N.
6
595.000
1,000
Convert, debentures, convert, into stock till 1907
Dec. 1, 1899
do
do
J. & D.
7
197.000
1,000
July 15,1899
Long Branch & Sea Shore, 1st mortgage, guar. -c^
do
do
J. & J.
6
411.000
600
Dec. 1, 1931
do
do
N. J?Southern 1st mortgage.- - - - - - - - - - - - - v - - ®
1.500.000
5 g. J. & D.
1,000
July 1, 1987
N Y & L’gBranch 1stM .,red.m l899 at 110, g.c
do
do
See rem.
34.960.000
500 &c.
5 gt.,Leh.C.&Nav. Co Dec. 1 5 ,189T
Gen."mort. for $50,000,000, gold. - ..................c&t
2.310.000
6 g. J. & D.
500 &c.
Cent.RR.of N.J.—Lehigh Coal & Nav.,m.,g.,ass d.
J. & J. N. Y., Cent. RR. of N. J. July 1, 1921
5
4.987.000
1,000
Am.Dock&Imp.Co.lstM.,guar.,redeem.atll0.c
1892
Phila., Guar. Trust Co.
6
239.000
July 1. 1921
Car trusts.......... ............ - •
*;....... ; ----- ~
300.000
1,000
6 g. J. & J. N. Y., John Paton & Co. June 30,1913
Central o f South Carolina—1st mortgage, gold...- -C
Boston, Am. L. & Tr. Co.
J. & J.
000 5
100 &
c. 7.000.
July 1, 1919
Central o f Vermont—Consolidated RR. of Vt. 1st M.
5 g. J. & J. N. Y., Farm. L. & Tr. Co.
1,000
(1)
1901
semi-an.
Oeniraiia <•Chester—
£
6
1941
Char. 0.& Chic.—Ser.I,$4,500,000,red.aft. 96,atl03
semi-an.
5
(f
July 1, 1947
Series II, con. mort., for $35,000 p.m — - • -•— Oct., 1890, last paid.
7.345.000
5 g. Q .-J .
1,000
175
Old 1st M., gold, ($25,000 p. m.) to he retired. ,c
J. & J. N.Y.,12 W.23 & Cha’ st’n Jan. 1, 1930
1.236.000
7 g.
1,000
121
IrredeemableCharleston < Savannah—Gen.M. ($1,500,000, g-.c
6
2.000.
000 7
1,000
121
1st and 2d pref. inc., $1,000,000 each, non-cum.
rAntrni n n ilroa d
Sr.
B a n k in g Com pany o f Georgia»*,^6^
r « n t r a l N ew E n g la n d & W e s t e r n .—(See Map.) Owns from |M ap.;-O w ns from S a v a n n a h , Ga., to Atlanta, Ga., 2 9 4 miles; brancln.
Gordon to Milledgeville, 17 miles: leases m P®rPe^ Ry -^ugpi^a &
g S E S £ S £ h 2 £ & ^ i s et e m , H a f S T t T R ^ S f f , 108 Savannah Railroad, 53 miles; Eatonton B^ n c h Radroad, 22 miles,
Southwestern Railroad and branches, 333 miles .leases till 1985 Mobile
& Girard Railroad, 85 miles; oontrolsby ownership of stock-Savanna^
& Western Railroad, 428 miles ; Montgomery & Eufaula Railroad, 80miles; total operated and practically owned June 3(fi 1890,1,312 miles^
i 1940 at 2 per cent per annum on the stock ($2,635,700) and. interest Auxiliary system (the earnings of which are reported separately) in
on the bonds. Both mortgages covers the road from Campbell Hall
cludes, besides other lines, Western Railroad of Alabama,
>
•c-cmails excepting line of Poughkeepsie Bridge Company; al®® Georgia Railroad, 307 m iles; Port Royal & Augusta, H 2
’ . ^ la„ ^
n
real estate eauipment, &c.; the rights in the lease of the Hartford & West Point. 87 m iles; Port Royal & Western Carolina, 229 miles, and.
& Connecticut Western Railroad ana 13,900 shares of that company s Savannah Griffin & North Alabama, 60 miles, and embraces in all, 984
L c k F i S y Insurance Trust & Safe Deposit Co. of Phil-trustee.
miles. Grand total June 30,1890, 2,296 miles.
, . . .
.
The first mortgage bondholders have agreed to exchange their hold
In May, 1891, the Chattanooga Rome & . Columbus (which s ^ ) wasi-no-a for the new general 4s, and to waive all interest for two
brought into this system, its entire stock being purchased Py tbe
^rhenew bonds m il further be issued to the amount of $1 j400,000 for nah & Western. See Y. 52, p. 761. As to that and other recent acquin e w ^ u ipm en tlin d betterments, and the balance ($1,IDO,000) will be
held in the treasury. See V. 52, p. 795. For Poughkeepsie Pri^ge. se S1j£om 8June l f i 891 .^easedfor 99 years to the Georgia
that comuanv. under “ Miscellaneous.” Stock, $1,600,000, par,
Comnanv (which in turn is leased to the Richmond & Danville), 7 p er
cent^earlv and the profits of the Central RR. Bank being guaranteed
on the stock. The Richmond & Danville and
R ic to o m i Terminal
join with tiie Georgia Pacific m a bond for $1.000,000 as a guarantee
for the fulfilment of the terms of the lease. See. V. 52, p. 462, 862.
The stock of this company is controlled by the Richmond & West
r m i r a l O h i o .—Owns from Bellaire, Ohio, to Columbus, Ohio, 137 Point Terminal, through its ownership of the Georgia Company, which.
mfies Theroad between Newark and Columbus (33 miles) is owned
tmntlv with the Pittsburg Cincinnati & St. Louis Railroad Co. Leased ^Floatingl& bt’eeptember 1,1891,
$3’.800,°°0 . S«e
to th^Baltonore & Ohio till 1926, with option of renewal by the lessee; Richmond & West Point Terminal and V. 53, p. 224, 408- .
,
rental, 35 per cent of gross earnings, with m™imum
The company guarantees the prompt payment of the principal ana
ThfonfifiOOO In 1889-90 gross earnings, $1,408,214; net. $309,809, interest of the iollowing securities, in addition to those in the tabl&
against ’$280,137 in 1888-89; loss to lessee, $213,365, againsi $192^895. above: ChattanoogaRome & Columbustirstmortgage os $2/240^000,
D m denaaon common stock Since 1880 have been: In 1881, 6 ^ ; from flolumbus & Rome and Columbus & Western 1st 6s, $1,000,o o u , macon
1882 to July, 1891, both inclusive, 6 per cent yearly. (V. 48, p. 70.
Northern 1st
$2,200,000 (jointly with Richmond & Danville) .
M K ^ G i r a r d 1st mortgage, $1,000,000; M ontgom ery& E ufaidalst
V. 51, p. 205; V. 52, p. 204.)
(is S I 500 0 0 0 ; Port Royal & Augusta 2d mortgage 6s, $112,000.
R
c e n t r a l P a c i f i c .—(See Map o f Southern Pacific.)—Line of R oad .— Savannah’& Western 1st consol, i5s, $7,755^ 0i ^ u k f n / c ^ p a n v ^ )
_Main Line—San i^ancisco, ^1., w
_Mam JLine—can rxauw otu, vai., to Ogden, Utah^(includm^ — r—iles 1st 4 ^ s $1,543,000 (jointly with Georgia RR. & Banking Company).
v * -»—o lljm
leased), 883 miles ; Lathrop to Goshen, 146 miles ; Roseville Junction to
Oregon State Line 296 miles ; other lines, 35 miles ; total operated and ^ M d e n d W n c ?
1882;8.0p PS ^ in 1883, 7 ^ ; in 1884.
5 ? in 1885,1“ to 1886, 6 ; from 1887 to December, 1890, both mclu:
accounted for January 1,1891,1,360 miles.
rnrin c h a r t e r L eases , &c .—The Central Pacific was a consolidation sive, at rate of 8 per cent per annum; in June, 1891, 3*2, and thereaf
( i S s t 22, 1870) of thé Central Pacific (organized October 8, 1864)
e
r
Rud other railroads. This company received the Government subsidy, teL ^ 8 8 i t t ’e GloP S a ' B K a f t e S a for 99 years In the lnterestof
but interest is not payable to the Government till the bonds mature.
The “ Thurman ” act of May 8.1878, directed that the charges for Gov
ernment transportation should be withheld, and also that the company
should pay $1,200,000 yearly to the Government for the sinking fund of
its debt, or enough thereof to make all the payments equal 25 per cent iniiilated mortgage was authorized in 1890; se$ abstract, Y. 51, p. 571*
nf the -net earnings each year. See V. 50, p. 276. January 1, 1891,
^
243, ^
accrued interest due the Government amounted to $27,489,664, and par $7*76()1 3 ^ ag¿ns^,$7,4Í2,1
| l ’974 277; net, including income from investments, $2,065,829.
value of securities in U. S. Government sinking fund was $3,878,000.
In March, 1885, the Central Pacific lines were leased to the Southern
Pacific Company. The Central Pacific receives all its net surplus
s
j - e so. B b p % ^ 9- n s 8 ^
v
p^
income above annual charges of every sort and betterments, and this
net surplus income is guaranteed to be not less than $1,360,000 yearly,
this sum being applicable to the payment of dividends.
^ : ll
’
sto c k and B onds —Dividends: In 1877, 8 per cent; 1880, 6; 1881, Expenses...........................................
6 - 1882, 6 ; 1883; 6 ; 1884, 3 ; 1888, 2; 1889, 2 ; in 1890, 2 ; in 1891,
Net earnings ra ilro a d s......... $2.673,703 $1.791,328 $1>2||’||^
Feb 1 per cent; Aug., 1 per cent.
^ 6 ,2 0 1
I qq’ q^
248,116Thé g&iHng funds are invested mainly in the bonds of othertribu- Net eam’gs steamship compames..
Net bank and investm ents...,.......
:___
tarv lines and accumulate; the bonds are not called in. The sinking
tonds amounted January 1,1891, to $8,330,337. . The 5 per cent mortTotal net income ofcom pany.. $2,718,920 $2.437,395 $2,34|,16|
gAgftbonds of 1889 are guaranteed principal and interest by the South’
’
________ __
frn Pacific Company; the mortgage is for $16,000,000,'theMetropoU- Less interest and rentals................
- tan Trust Co. of Sr. V. being trustee. (V. 49, p 340 ) There are still out- Excess of inc. over fixed charges..
............
$645,290 $413,993
B+ATH
iiue- *56.000 6 per cents (interest A. & O.), due Oct. 1,1936.
The land grant bonds due October 1,1890, were extended till October - ( V 50 p. 800; V . 51, p. 84, 571, 7 1 3 , 720 ; V . 52 p.462, 761,862, 939. >
1 1900, at 5 per cent and stamped with the Southern Pacific Company’s
^
ic « f N e w J e r s e y .—(See Map)—Operates 660 miles o f
»R . o
i l J ® 0wued, the remainder being mostly pro^
guaranty of principal and interest.
999-y®ar 1eases. In addition owns fen
thw t. and G ran t .—The total land granted the Central Pacific and the urietary’ lines^or op ctated mider0
Palifornta & Oregon companies was about 12,000,000 acres, of which nes anil steamer lines, 21 miles; in all 681 miles.
about^L^O,000 acres had been sold to December 31, 1890 In 1890
O r c a n i z a t i o n , E t c .— Chartered in 1849. From May, 1873, to Janurq «m aores were sold for $194,768 and total cash receipts of Land i ^887 leased to Philadelphia & Reading. Receivers were ™ posses^eDArtment were $310,226. Land contracts on hand January 1,1891, i ;
Tarmarv i 1887 till January, 1888, when th© road w©nt back
etc., ™
giverl in the
to c r é d T o f T fn d grant bonds, $1,067,039 ; cash, $242,447; notes of
ph ro n S
V. 44, p. 714,716. Dividends were resumed August, 1889,
Central Pac. RR., $2,500,000,
o pe r a t io n s . F inances , & c —First dividend under the lease was paid and increased to 1% quarterly in August, 189L
February 1,1888, and dividends have been paid regularly since at rate
ht-dek a n d B o n d s .— The capital stock authorized is $30,000,000.
irf^imB 1891, $3,727,800 stock was sold at par to stockholders tojin * i ^ o 1July 31,1891 (7 mos.), gross earnings were $9,174,- provide for expenditures theretofore made for improvements new
Ane oo-Qiimt,
333 045 in 1890 ; n6t, $4,129,123, agamst $2,614,251.
In î l 90 Ï o s s eartangs $15,937,004 (against $15,530,215 in 1889);
cent; f c O f e * * !
1889- 3 •net *6 061 987, against $5,765,943 in 1889 ; net profit under the lease,
Soqo 099 of which $1007612 was set aside for cars worn-out prior to
f«Q o: b l é n c e ™ & o m So. Pac. (to make guaranteed rental), $461,389;
ii,A?inteed minimum rental, $1 360,000* other income, $6,000 ; divitlh A ¿eueral mortgage of 1887 (see abstract of mortgage Y. 45, p..
402) $8?ef5^1001are°reserved for other issues. Interest on ?he general
BONDS.
AN D
STOCKS
RAILROAD
S eptember, 1891.]
94
INVESTORS’
SUPPLEMENT.
[V o l .
LUI.
■ eptember, 1891. J
S
RAILROAD
STOCKS
AN D
BONDS.
35
Subscribers w ill confer a great fa v o r by g iv in g Im m ediate notice o f an y erro* discovered In these T a bles.
RAILROADS.
Bonds—Princi
INTEREST OR DIVIDENDS.
._______ ._________________________________ _____ Miles Date Size, or
Amount
iPor explanation of column headings, &c., see notes of
of
Par Outstanding Rate per When IWhere Payable, and by pal, When Due.
Stocks—Last
on first page o f tables.
|Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
'Charleston Sumter < North. —1 st M. ,g. ,$15,000p.m. c 138 1890 $1,000 $2,070,000
&
6 *. A. & Od
............. .
Apr. 2, 1910
■Charlotte Columbia < Augusta—Stock................
6
100
2.578.000
....... IN. Y., Fourth Nat. Bank, June 1, 1889
1st mortgage consolidated................................
191 1869 500 &c
2,000,000
7
J. &J.i
do
do
Jan. 1, 1895
2d mortgage.......... ............................. f ............ .
191 1872
1,000
500.000
7
A. &O.
do
do
Oct 1, 1902"
Consol, mort., gold, for $3,000,000, see remarks.c
1883
1,000
500.000
do
do
6 g. J. & J.
July 1, 1933
Chatt. Rome c6 Col.—Rome & Carrol. 1st mort. gold.
22 1885 100 &c,
150.000
&J.I N. Y., S. Borg & Co.
Jan. 1, 1916
f g- J.
1st, gold, guar. $16,000 per mile........................ c*
140 1887
1,000
2.090.000
5 g. M. & S. N. Y., Security & Tr. Co. Sept. 1, 1937
Income bonds, non-cumulative...............................
1887
1,000
1.400.000
6
Sept., 1937
Chattanooga Southern—1st M. ($15,000 p. m .)__ o’*
96 1889
1,000
1.440.000
6 g. J. & D. N. Y., Central Trust Co. Dec. 1, 1919
Chattanooga Union—Union Railway mortgages ...
85-’87 1,000
200.000
6
J. & J. N. Y., Farm. L. & Tr. Co. J’y,’05-Jan.’07
Chat. Un. consol, mort. for $600,000, gold.......c*
1888
1,000
400.000
J. & J. I
do
do
July 1, 1918
Union Depot bonds......................... '.......................
150.000
I e- J. & J.I
do
do
1920
Chartiers—1st mortgage
................................ c
23 1871
i ’,òò’o
500.000
7
A. & O. Philadelphia, Penn. RR Oct. 1, 1901
Ches. < Nash.—1st M. ,g. ,$25,000 p.m. ,s.f.,not d’m. c
6
35 1887
1,000
875.000
5 g- F. & A. N. Y. Office, Mills Bldg Aug. 15,1937
Chesapeake < Ohio—Purch. money funding bonds. c
&
428 1878
1,000
2.287.000
6
J. & J. N.Y.,Drexel,Morg.&Co July 1, 1898
1st mortgage, gold, series “ A ” ............................c’
503 1878
1,000
2,035,724
6
A. & O.
do
do
July 1, 1908
1st mortgage, gold, of 1911, Peninsular Extens.c*
75 1881
1,000
2,000,000
do
6 g. A. & O.
do
Jan. 1, 1911
1 s t'mort., gold, of 1922, on ext. (for $3,000,000)c*
8 1882 500 &c.
142.000
J. & D.
do
do
June 1, 1922
Tst consol, mortgage for $30,000,000, gold ..c*&r 655 1889
1,000 22,096,000
5 g. M. & N.
do
do
May 1, 1939
Rich. & All 1st consol. M., gold, (See remarks).. .c* 256 1890
1,000
5.000.
0002-4 g J. & J.
do
do
Jan. 1, 1989
Do
do
do
......................... 256 1890
1,000
1.000. 000
J. & J.
do
do
Jan. 1, 1989
D o 2d consolidated mortgage, gold....................... 256 1890
1,000
1,000,000
J. & J.
do
do
Jan. 1, 1989
Craig Valley branch 1st M., gold........ ............... c*
26 1890
3.000
650.000
do
do
1 J & J..
July 1, 1940
Equipment trust bonds........................................ c*
Var.
1.000
474.000
do
do
Various.
6 g- Various
Allegheny Car Trust, Series A, B and C................
323.000
5
Various
do
do
Equipment notes........ : .........................................
1,010,190
6
do
do
Elevator Co. 1st M., prin. &int. guar, by C. & O.c*
1888
1,000
820.000
A. "& O. N.Y.,Drexel,Morg.& Co. Oct. 1, 1938
Income, 2d mortgage, for $500,000 non-cum.c*
1888
1,000
315.000
h
Oct. 1.
Oct. 1, 1988
Ches. Ohio < Southwestern.—
k
Paduc. & Eliz.,lstM.,s. f., dr’n at 100($300,000 8s) 186 1877
1,000
500.000
6 & 8 F. & A.
N. Y., 23 Broad St.
Feb. 1, 1897
1st mortgage, gold ($19,000 per mile)..............c*
352 1881
1,000
6.176.000
F. & A.
do
do
Aug. 1, 1911
2d mortgage ($11,000 per mile)..... ....................e*j 352 1881
1,000
3.865.000
l g- F. & A.
do
do
Aug. 1, 1911
Equipment trust bonds for $2,000,000, not dr’n.c'i
1882
1,000
617.000
6
J. & J.
do
do
Yearly to 1892
mortgage coupon bonds is payable J. & J., on the registered bonds
opo^Pleting road,”$780,000;
equipment,
Q —J- Trustee of consolidated and general mortgages is the Central $561,000; floating debt, $95,000; paying for old and new during conto provide for interest
Trust Company of New York.
struction.and other contingencies, $1,064,000. The remaining $2,000,E a k n i n g s , F i n a n c e s , &c.—The earning capacity of this company has 000 can only be issued by the assent of a majority of the second series
Increased rapidly since the reorganization in 1888.
bonds, and for the purpose of completing a proposed 71 miles of new
January 1 to July 31, 1891 (7 months) gross earnings were road. The second series will be consolidated 5 per cent bonds issued at
«7,839,796, against $7,379,779 in 1890; net, $3,297,745, against Jae rate of $35,000 a mile, aggregating about $13,000,000. Of these,
«3,013,4H . For first three months of 1891 surplus over fixed charges $7,345,000 will be used to exchange for the present bonds, bond for
was $85,359, against deficit of $89.030.
bond, and sufficient reserved to retire the first series, on the oanoellaThe report for 1890, in full, was in V. 52, p. 222, 236, 240.
tion of which the consols will become the first lien. The seoond series
tt* .n
have voting power of ten votes for each $1,000 bon d .. See
E A R N IN G S AND E X P E N S E S .
V. 52, p. 973. Receivers’ certificates for $230,897 to pay claims on
1888.
1889.
1890.
equipment were authorized in Aug, 1891. Stock, $6,567,000; par value,
Earnings—
$
$
$
$100. From January 1 to July 31, 1891, gross earnings were $86,408,
Passenger and freight... *............ 5,398,290
5,899,119
7,051,524 against $66,782 in 1890 ; deficit in 1891 under expenses, $17,838.
Anthracite c o a l............................. 7,500,653
7,344,539
6,725,696 General offices of the company, 45 Broadway, N. Y. (V. 50, p. 904;
Mail, express, e t c ..........................
278,530
253,736
349,343 V. 51, p. 113, 680, 829, 875; V. 52, p. 203, 349, 680, 795, 862, 973; Vol.
53, p. 156,186.
Total gross earnings___r."».'.. 13,177,473 13,497,394 14,126,563
C harleston
S a va n n ah
from Savannah,
Operating expenses and taxes___ 7,204,068
7,531,737
8,161,276 leston Junction, Sc C., 104 miles .—Owns 7 miles trackage),Ga.,to Charles8.
(except
and branch to
Net earnings.............................. 5,973,405 5,965,657
5,965,287 Youngs, leased, 6 miles; operates—Ashley River branches, &o., 8 miles;
Charleston Junction to Charleston, 7 m iles; total operated, 125 miles.
IN CO M E ACCOUNT.
This was first the Charleston & Savannah RR.; reorganized in 1866
1888.
1889.
under name of Savannah & Charleston, and opened March, 1870. Sold
1890.
Receipts— $
m foreclosure June 7, 1880, and present company organized. Stock.
$
$
Net earnings..... .............................. 5,973,405 5,965,658
5,965,288 $500,000. From Jan. 1 to June 30, 1891 (6 months), gross earnings
Income from investments............ 1,507,159
799,238
837,293 were $419.703, against $366,892 in 1890; net, $170,659, against $120,............
Premium account..........................
322,753 930. In 1890 gross, $682,740; net, $157,728; surplus over charges,
$63,152. Paid Ha per cent on first incomes in 1889, 2 per cent in 1890
Total net income..................... 7,480,564
6,764,896
7,125,334 and 6 in 1891. H. B. Plant, President, New York. (V. 52, p. 590.)
disbursements—
C harleston Sum ter Sc N orth ern .—Operates from Pregnalls,
Rentalspaid.................................... 1,862,127
1,890,381
1,819,815 S. C .,to Bennetsville, S. C., 120 miles, and-branches, 18 miles. ComInterest on debt............................. 2,860,314
2 , 828,632
2,798,148 pleted July 6,1891. Connects at Bennetsville with the Cape Fear &
D ividends................ .......................................... (4ia) 835,719 (6)1,117,092
Yadkin Valley. Formerly the Eutawville Railroad; name changed in
1890. Mortgage trustee is Atlantio Trust Co. of N. Y. Stock author
Total disbursements............... 4,722,441
5,554,732
5,735,055 ized $12,000 per mile; outstanding, $1,380,000; par, $100. President.
Balance, surplus..................... 2,758,123
1.210,164
1,390,279 Charles E. Kimball. (V. 51, p. 239.)
—(V. 50, p. 139, 259, 274, 277; V. 52, p. 222, 2 3 6 , 2 4 0 , 278, 761, 862.)
C harlotte C olu m bia Sc A u g u sta .—Owns from Charlotte, N. C..
Central o f V e rm o n t.—This company operates under lease the to Augusta, Ga., 191 miles; leases Atlantic Tennessee & Ohio Rail
following roads: Consolidated RR. of Vermont—
Windsor to Rouse’s road, Charlotte to Statesville, 44 miles; Cheraw & Chester, 29 miles,
¡Point, 158 miles; Essex Junction to Burlington, 8 miles; Swanton Junc and Chester & Lenoir, 109 m iles; total operated (including 10 miles o f
tion to Province, 11 miles; Rutland RR.—Bellows Falls to Burlington Western North Carolina), 373 miles. Controlled by Richmond & Dan
120 miles; Addison RR.—Leicester Junction to Tieonderoga, 15 miles’ ville since 1878, and in May, 1886, leased to that company for net
Montreal & Vermont Junction—Province Line to St. Johns, 23 miles’ earnings. In case of any deficiency in net earnings to pay fixed charges
S. S. & Chambly RR.—S. S. &C. Junction to Waterloo, 43 miles; Ogdens- the lessee may at its option advance the f imds needed to meet the de
burg & Lake Champlain RR.—Rouse’s Point to Ogdensburg, 118 miles- ficiency, all such advances to be secured to it by a mortgage lien in
New London & Northern RR.—Brattleboro to New London 121 miles’ ferior only to that of existing mortgages. The $500,000 first consols
Brattleboro & Whitehall RR., 36 miles; Montpelier & White River RR* outstanding are guaranteed as to principal and interest by indorsement
13 miles; Burlington & Lamoille RR., 34 miles; Mississquoi Valley RR by the Richmond & Danville; $2,500,000 of this income is reserved
—St. Albans to Richford, Vt., 28 miles; total, 731 miles, of which 100 to retire prior issues at maturity. There was due other companies June
miles, New London to Millars’ Falls have earnings reported separatelv 30,1890, $96,158. Of the stock $1,300,000 was deposited by Richmond
The Central of Vermont was organized fci April, 1873, under a charter & West Point Terminal under its collateral trust deed of 1889. Divi
from Vermont. It has no road o f its own, but operates above mileage dends in 1888, 4 per cen t; in 1889, 2.
From January 1 to June 30,1891 (6 months), gross earnings were
under lease. The Consolidated Railroad of Vermont was organized Julv
1,1884, embracing the former Vermont Central and Vermont & Canada $470,850, against $441,090 in 1890.
From July 1 to Dec. 31,1890 (6 months), gross earnings were $517,properties, and was then leased to the Central Vermont The stock of
the Consolidated Vermont is $750,000 preferred 6 per cent and $300 - 156, against $475,278 in 1889; net $153,447, against $167,301.
In year ending June 30, 1891, gross earnings were $992,748. In
000 common. The stock of the Central Vermont is $1,000 000 Com
pany owns $1,612,500 stock of the Ogdensburg & Lake Champlain RR. 1889-90 gross $912,560 ; net, $255,497; deficit after interest and rent
als, $12,690.
In
l 88.8’ lea8ed tlie Missisquoi Valley Railroad at 4 per cent
o n $o00,000 stock, payable January 1 and July 1. The lease of the
Chartiers.—Owns from Mansfield, Pa., to Washington, Pa., 23 miles.
Rutland Railroad to the Central Vermont was extended for 999 vears Sold under foreclosure and reorganized in 1867. Leased for 99 years
from December 31,1890. (See Rutland and V. 52 p. 41.)
from January 1,1872, to the Pittsburg Cincinnati & St. Louis (now
fc
^ i ? 8,9 ^ .0.1163i mile8>gross, $5,245,135; net, $1,609,107; charges, Pittsburg Cincinnati Chicago < St. Louis); the rental is net earnings.
™
W
1^400’? ^ 5 extraordinary expenditure $204,000; balance, $5,066 In 1890 gross $266,900; net, $123,106; surplus over fixed charges $99,— (V. 47, p. 459; V. 49, p. 6 5 3 ; V. 51, p. 680, 715.)
610; dividends (5^ per cent), $35,491; balance, $64,118. Capital
*
See Map.)—Chartered to build from Ches- stock, $645,300 (par $50), of which the Pennsylvania Railroad owns
n w „i 1- * Altamont, 111., with branch to a point opposite St. Genevieve- $333,850. Dividends since 1880 as follow s: 1881 to 1886, inclusive,
Total distance, 140 miles, including siding. Road completed and in nil; 1887,1888 and 1889, 5 per cent; in 1890, 5^; in 1891, April 1,3*2.
eper-ition between Sparta and Nashville, 25 miles, and graded between
C hattanooga R o m e Sc C olu m b u s.—Owns from Chattanooga to
aiiu Centraha, 20 miles. At Centralia connection will be Carrollton, 140 miles; branches to ore mines, 36 miles; total, 176 miles.'
made With the Illinois Central. Steel rails on hand and road to be Successor in 1887 to the Rome & Carrollton Railroad. The stock o f
ln . operation to Centralia in 1891. Bonds author- $2,800,000 (par $100), and all the incomes were purchased in May, 1891,
izea, $12,000 per mile, covering roadbed, equipment and terminal facil- by the Savannah & West. (Central of Georgia system) which guarantees
~ ies’ ~ oc.?-ls?u®d a? d subscribed for like amount. The road is standard by indorsement, the first mortgage bonds of 1887. See V. 52, p. 761;
.gauge and is being laid with 56-pound steel rails.
$150,000 bonds are held to retire same amount of Rome & Car
* C hicago.—( See M o».;—Projected rollton prior bonds. In 1890 gross earnings were $360,846; net,
°n the Ohio River, of which 175 miles $156,811. (V. 49, p. 269; V. 50, p. 243, 345; V. 52, p. 280, 761.)
between Camden, S. C., and Marion, N. C., is now in operation, forming
C hattanooga Sou th ern .—Completed in June, 1891, from Chat
a through lme, m connection with the South Carolina RR.. 290 miles tanooga, Tenn., via. Alpine, Ga., to Gadsden, Ala., 86 miles, with,
in length, between Charleston, S. C., and Ruth erf ordton, N. C. Local aid branches, 10 miles. The mortgage is for $2,000,000, but limited in issue
to the amount of about $1,500,000 was secured in exchange for an to $15,000 per mile of completed road. Stock authorized ($15,000 per
equal amount of stock. In February, 1891, D. H. Chamberlain, re mile), $2,000,000; outstanding, $1,440,000. (V. 52, p. 973.)
ceiver of the South Carolina RR., was made receiver.
C h attan ooga U n io
miles of belt railroad in Chatta
In June, 1891, a reorganization plan without foreclosure was pro nooga, Tenn., connectingn .—Owns 43entering that city. In September,
the ten lines
posed under which the old bonds will be retired and two series of 1891, the East Tennessee Virginia & Georgia bought a majority of the
uew bonds will be executed. Series I for $4,500,000 will be a prior
January 1 to July 31,1891
Hen on the property, and win be issued at $12,000 per mile. Of this $1,000,000 stock. Fromagainst $66,356 in 1890; net,(7 months), gross
earnings were $56,778,
$17,029, against
¿amount $2,500,000 bonds are to be issued immediately as follow s: 26,294. (V. 53, p. 407.)
RAILROAD
SEPTEM B ER , 1 8 9 1 .]
STOCKS AN D
BONDS.
a r
. Titus VS
kLaCros^
iBair
i D<flphi
Lafa
iokomc
w i »wZoar
tmj
?
r )lir
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4 / * '
y\ st
P
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ORT
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3Oceana
_
i
B‘ n
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Jvingston
Bowling Green ^ < r v nac-
le
.
*HÏ
-,
Memphis j ^ Glas^
il«A
____
o Monroe
o ^oôksvi]]0
£
.
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%l B ogersviiig^V .lz /
--------------_
„ /
v c jtjL /ffis a KCiS ^
ity wÆn.
/
T „ ---- ?
„
Danville]
-----------------------------
__»
Reidsville
A
¿1 Clinton j
N
,
vO 'r w
?%.
p
o Wilbar
^Cranberry
s*£
*ree,
’"«A
e
>McMinnville
^ ^ThomasT.
Lexington
Layton,
Lecàe
p’ayettoviiiu
# £ _______
>•
]
is :
<Toccoa
&t. Airy
A
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iCheraV
L
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^
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1
G
Kingsvi
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R
a
9
CHARLESTON, CINCINNATI
Macoï^"'^Gordon
AND
CHICAGO
e a il r o a d
A N D CONNECTIONS.
♦
U^Vledgeville
M A P OP
^r\\
' ^ / X
X
v
Louisville
*
I
'■ JV illen V
( T
"V))| __
\
W '
\
l
\ l 1 NL/ A
GHARLes^J
j^*"V
v
/
BranchviB?*l2dA /
'
®
æ
41 Mile T. o r X A
| \ i Cochran
Mawkins T\
o
(
savann W
?
INVESTORS’
•â s
fVOL. U U .
SUPPLEMENT.
[Bonds—Prinoi
1
INTEREST Oi
]pal,When Due.
Miles Date Size, or
Stocks—Last
Amount U
late per When W
Par
of
Dividend.
Dutstanding Cent.
.jf0r explanation of column headings, &c., see notes of
Whom.
Payable
Road. Bonds Value.
K
on first page of tables.
:
Q .-M . < . _., John Patón & ) Sept. 1, 1891
2
100 14,115,000
-Chicago & Alton—Common stock.. . . . . . . .
(
Q .-M . 1 Co. &Chic. Tr. Office. 5 Sept. 1, 1891
2
3,479,500
100
Preferred stock (7 per cent yearly not cumulative)
|N
J. & J.IJN. Y., John Patón & Co. Jan. 1, 1893
2,383,000
7
1,000
220 1862
Lond’n,J.S.Morgan&Co. July 1, 1903
4,379,850 . 6 g. J. & J. |L
1,000
322 1873
Oct., 1891
General mortgage, sterling, for f
Q. J • j N. Y., U. S. Trust Co.
$100 $1,500,000
13t
38
Joliet & Chic., 7 p.c. stock,perpet.,guar, by C.&A
N.
A. & O. J Y., John Patón & Co. Apr. 1, 1894
S
7
2,365,000
1,000
Apr. 1, 1894
fit Louis Jacksonville & Chic., 1st M., assumed.. 150 1864
do
do
A. & O.
564,000
7
1,000
37 1864
July 1, 1898
is t mortgage, endorsed by Chicago & A lton..
>
do
do
J. & J.
188,000
7
1,000
37 1868
July 1, 1898
2d mortgage, endorsed by Chicago & A lton..
do
do
J. & J.
42,000
7
1,000 »
150 1868
Aug. 1, 1891
2d mortgage, assumed (convertible) . . . . . . . - - •
do
do
329,100
100
312 F. & A.
101
Aug. 1, 1900
Louisiana & Mo., guaranteed preferred stock
do
do
F. & A.
1,725,000
7
1,000
101 1870
Nov. 1, 1900
do
do
M. & N.
300,000
7
1,000
101 1877
May 1, 1903
do
do
2,149,000
1,000
6 g- M. & N.
1 162 1878
Aug. 1, 1891
do
do
Q.—F.
1,750,000
100
1^
162
Chic., Treasurer’ s Office July, 1891
Jfrel. StOCK ivansas y jix iy av. x j .
300,000
3 ^ J. & J. C
Miss. River Bridge, stock (7 per ct. guar. (C.& A).
N.
A. & O. I Y., John Paton & Co. Oct. 1, 1912
620,000
1,000
6 g.
1877
lstmortgage, assumed, g. sink, fund, dr n atlUt
A. & O. N.Y., F.L.&T.Co.&Bost. Apr. 1, 1926
I
5
8,616,000
500 &c.
June 1, 1918
-Chicago B uri. < Northern—IstM ., s.f.,red. a tl0 5 .c * 363 1886
&
do
do
J. & D.
6
2,215,000
1,000
Dec. 1, 1896
2 d M. ($10,000 p. m.) red. after May 3 1 ,1 8 9 8 ..c * 363 1888
do
do
J. & D.
6
935,000
1,000
1886
Feb. 1, 1903
do
do
F. & A.
Ten-year debentures..........---- - - — j - ' ' W' i 'X/w
7
940,000
1,000
1888
Sept. 15, 1891
Equip. M.,red. a tl 05; after’ lOp.c.dr.y’lylOO.c
93
0..—M. N. Y., Boston and Chic.
1
100 76,394,505
'■Chicago B urlington & Quincy—Stock.....................J. & J. N.Y., Bk.of Com.& Bost. July 1, 1903
7
1,000 17,500,000
•? -r-» n o r\ -r^ T oATiani m T
_ »-.4 T
A *t,.crfi.ffA
_______ C£ 82Ó 1873
Jan. 1, 1896
do
do
J. & J.
547,500
7
1,000
1871
June 1, 1895
J. & D. Boston, Co.’ s Office.
5
348,000
1,000
*
S3 1875
A. & O. N.Y., Bk.of Com.&Bost. Oct. 1, 1901
2,316,000
5
1,000
r 286 1876
A. & O. N.Y., F.L.&T.Co.&Bost. Oct. 1, 1893
4,126,500
7
• 278 1863 50 &c.
*
July 1, 1894
Kill. U 1 .V
0U .
------ V
?
J. & J. Boston, Co.’s Office.
66,000
8
5*
40 ’ 69-’7C 500 &c
1st mortgage convertible bonds.
A. & U. N.Y., Bk.of Com. & Bost. Oct. 1, 1919
5
2,892,000
) 187£ 1,000
Oct. 1, 1919
do
do
l 787 \ 187£ 1,000
A. & O.
4
8,579,000
Sept. 1, 1921
do
do
M. & S
.|
4
4,300,000
1,000
^1881
Fob. 1, 1922
do
do
F. & A.
4
7,968,000
1,000
3 415 1881
*
r a il r o a d s .
(as per that
S
f
g
S
P
j
30, 1891 ,6 months), gross earntog, on
398 miles were $1,083,031, against $933,435 on 398 miles in 1890,
,
tordons ville to Orange (Virg. Midland), 9 nnles,
,exington & Big Sandy), Big Sandy B iw r to
ige to Washington (Virginia Midland and Washliles.
Ington Southern), 86 miles Also controls and operates the Mays ville
& Big Sandy Railroad, Ashland to ^ . Y ^ f f i ’ ^ V ^ t t T s I l SÎ
6sre between Covington and Cincinnati, total in August,isu
.cludrng 94 miles of trackage, 1,081 miles, of w iich 32 mUes are d
-*-ack The extension to Cincinnati was opened January, 1889.
O rganization , < .—xne iorm er nucMjJwtac
ORG^ATroH, kc
Merest S
closure April 2,1878, and this company organized,or' i W IIn 188É
i, loo/. n 1889
iipfanitpd on a receiver was appointed October Zo, 1887. An aooo
ipany was reoi
« mter1the^direction oil Drexel, Mo?|an & Co the company was reor
Cincinnati. Th
ganized without foreclosure, and the road extended to ^f„p^oT)eratec
ad been oper^ec
Consolidation with the Richmond & AUegheny, which had been operate
un d er a temporary arrangementhince September^.
“T "R T
t in m i
^^he^annull report In ’V? 5*2, p. 569, showed the following. A oyclone
in 1890 cost the company heavily. See report.
1890
1889.
1888.
1887.
$
$
$
$
2,134,195 2,161,685
Gross earnings...................2,001,723 2,005,168
828,512
927,039
745,710
Net receipts................... - - - *:
868,979
866.216
826,872
Rentals, taxes, int’est, &c. 715,872 _________ _________ __________
Balanoe........................ su. 105,991 def. 81,162 sur. 60,823 def.40,467
- ( V . 50, p. 5 1 8 ; V. 52, p. 5 6 9 , 718; V. 53, p. 156.)
Chicago
d i i o a o 'o & A lto n . —L in e of Ro a d —J oliet to -»«jou ™ Louis
l t o n .—L ine
r oad —joubi to East St.
im ain'i 2?4 miles ; Branches—To Coal City, 30 miles ; Dwight to Washinírtonand Lacón 80 miles; Roodhouse to Louisiana, 38 miles ; Upper
S
“ U n l^ l miles. Total owned, 400 miles. Leased-Chicago to
Toliet 37 miles; Bloomington to Godfrey, 150miles ; Louisiana to Cedar
Citv Í01 miles; Kansas City to Mexico, 162 miles. Total leased, 450
îüoijd & Danville, the right was seeuredto run trains into Washington, mile’s. Total operated, December 31,1890, 849 miles.
l C , over tne Virginia miaianu. oee
O rg an ization , L eases , Stocks and B onP s- ~ charter®d^ sí „ ® ^ 1® o
+
^°
Until January 1,1894, the voting power ana control of
company
• • j
__
r onr i Q 7 • rAArffa.nized under act of January zip
Æ
-¡remains with three trustees, viz.: J. Pierpont Morgan. John OrosDy
Ä Ä S S 7s r r S f S S S Â
Î?
ij.gt preferred 5 per cent non-cumulative and $12,000,000 2d preierrea
5 Price^oi common stock (since reorganization in 1888): In 1889,1
4®28: in 1890,14*2®27*8; in 1891, to Sept. 18, mciusive, 14
Price of first preferred stock: In 1889,56*2® 69*2; in 1890, 36® 66 |
% 1
S
Itock alTh4 Louisian^8l l d i s s o m i ^ e r RR. is leased’for loO O yea rs.
ok npr cent of gross earnings, after taxes, Ac., have been
’u ? S d 1|IS S ? ' i n ? 8 6 9 > a ® ^ ; i u l 8 9 0 , 23 ^ 4 6 ^ )
»
sufficient bonds’ ^ e reserved to
providelor prior liens, the balance being held in the treasury foir use as
^needed. This mortgage is also secured by deposit m trust of the $11,
"©00 000 bonds and two-thirds of the stock of the Maysville & Big Sandy
R R ’ Ashland to Covington, Ky., and the Bridge to Cincinnati, all owned «
S ? t h e C h e sa p ea k eT 'ob io RR. Co. (See abstract of mortgage m
2
±an2
sas City St Louis & Chicago is teased m perpctuity from
Ä
Ä
Ä
I
' S
d
V
' Ä
Ä
»»Mm1
tor tteto
^ T h e^ rst consolidated mortgage on the Richmond & AUegheny division
tV S tB E S H S E of which $1,000,000 are
P er cents^and the
'‘balance carrv 2 per cent interest till January, 1894, and tnerearcer 4:
mer cent The second consols bore 3 per cent till January, 1891, and
thereafter 4 per cent. The Central Trust Co. and Henry T. Wickham are
Tthe trustees under both deeds of trust. (See abstracts of mortgages, V.
5 There4are also $26,897 series B 6s, due in 1908; $170,000 New River
“
'bridge bonds, due in 1898.
•
iqq - +„
i
qi 1891
O perations , F inances , & c.-F rom
¿1 8 9 1 ^
.<1 month), the gross earnings were $769,751, against $643,664 in
1 8 9 0; net, $2077121, against $204,780, the mileage being 944 miles,
’ «
T
^ P isck i ^vea“ ends June 30. Report for 1889-90 was in V. 51, p. 274,
nnd showed thefoUowing; in 1889-90 very considerable expenditures
for new construction, etc., were charged to operating expenses, thus
•¡reducing net earnings:
1888-89.
1890-91.
1889-90.
dope at coiiiyctibAvo
*935
923
;Miles operated...............................
9 „
$
8,127,111
7,161,949
•Gross earnings........... ...................... 5’?lK ’Rnn
5,920,418
5,455,127
^Operating expenses...........................u,it>o,uou
2,206,693
1,706,822
Net earnings.............................. 1,025,000
1,986,882 y
abtl,700,000
*nt., taxes and all other charges.................... abtl,700,000
S
!
S
iW
' IN CO M E ACCOUNT.
1887.
TtrthTgross earnings. 8,941,386
A ?f{Y 850 p 138, 243, 377, 390,422, 451, 834; V. 51, p. 144,274, 829, Net earnings............3’ olq ’ 039
Other receipts...........
« 1 0 ; V 52, p. 390; V. 53, p. 58,59,97, 289.)
n iP s a n e a k e Ohio & S o u t h w e s t e r n .—Louisville, Ky., to MemTotal........................ 3,940,422
992 udles and branch Elizabethtown to Ceraban Junction,
D isbursem entsJfi 298 mileT of wMch is leased from LouisvUle & Nashville their Rentals paid.... - - . .. . 710.608
b rlm h 46 mite“ Also will operate the Ohio Valley Ry.,Prmce- Construe., equip., &c. 657,444
Interest on debt........ »Ji.Orfi.
t 0 ^ "f f iu c a d ^ h e r e ^ f c f w ^ o W f o S
i?
Dividends................... 1’4^1’ atI
Miscellaneous....—
3 2 ,b /z
Total disbursem’ts. 3,699,399
^ Y S l , ’ p ’ 171; ’
: t o s $ 5 ,T O 8 J 0 ^ o o m S % ld $3,511,600 preferred. January 1,1891.
S
—------ —
S r S S s Ä
~TT iso 9 2-10 miles additional, GordonsvUleto Orange, since March 1,
1891, and trackage on 86 3-10 miles (Orange to Washington) since
ïS T Â
« " t " 5,
o 2
1889.
1890.
7,511,465
2,843,380
273,252
7,516,617
2,944,881
273,875
7.065.754
2.683.754
273,497
3,116,632
3,218,756
2,957,251
665,455
531,542
825,658
1,407,608
106,924
669,478
159,810
823,495
1,407,712
38,059
652,411
184,271
816,161
1,407,560
189,227
1888.
$
$
$
3,537,187
3,098.554
3,249,630
df. 420,555 sur. 120,202 def.292,379
3 8 5 , '3 4 9 , 3 5 2 ; V . 5 3 , p. 156.)
C h i c a g o & A t l a n t i c . —S ee Chicago & E r ie .
BONDS
AND
STOCKS
RAILROAD
September , 1801.J
INVESTORS’
SUPPLEMENT.
[V ol. l i i i .
September 1891.]
■RAILROAD STOCKS AND
BONDS.
31
reat fa v or by g iv in g Im m ediate notice o f a n y error discovered in tliese T a bles.
RAILROADS.
¡Bonds—PrinciINTEREST OR DIVIDENDS.
Miles Date Size, or
For explanation of column headings, &e., see notes of
__
Amount iT
J„
¡paljWhen Due.
of
Par
on first page of tables.
P When
Road. Bonds Value. Outstanding J (w. Jer Payable Where Payable, and by StocJcs—Last
Whom.
Dividend.
Chicago Burlington < Quincy—( Concluded.)—
6
BurL & Q. Deb. 5s, 1913 for Han. & St. Jo stk.c*
1883 $ 1,000
Nebraska e xt.,$20,000 p. m. (s. f., not dr’n).c*<fer 1,432 1887 l.O O c
O &
Convertible debentures (See remarks): .......
1890 100 &c.
B rL&Mo.RR.inNeb.opn.M.l.gr.,s.f.dr’n at 100.!
561 51878 600 &c.
t. P®
do
do
exempt (See remarks)_ <
_
( 1878 600 &c.
Burl. & Mo. RR. xnNeb., s. f. for At.&Neb.RR.st’k.'
1880
1,000
Quincy Alton & St. L. (leased) 1st mortgage. c ■ “46 1876
1,000
Repub. Val. R .,lst M.g.,(dr. at 100) s.f., $14,000...c
90
1879 600 &c.
C ontingent l ia b il it ie s f o b bran ch ro ad s :
Ottawa Oswego & Fox River, 1st mortgage . . . .c*
70
1870
1,000
Omaha & S. W., 1st mortgage, guaranteed........ e*
49 1871
1,000
Nebraska Railway consolidated mort, guar........c
1 32
1877
1,000
At(Mi.&Neb.,lstM.,At. toLin.,Neb.,andbr.,gu.. .c* 148 1878 100 &c,
2d mort. on Atch. & Neb. RR. (1st M. on bridge) 148 1887
Lino’n&N.W. RR.lstM . guar., s.f.l p.c., not dr’S.
73
1880
Utuc. a Bast. Illinois—tom . stock ($15,000 p. mile)
100
Preferred stock, 6 per cent ($10,000 per mile).. .
100
1st mort. (s. f. $20,000 after 1885, no drawings) c
107 1877 100 &c.
Danville & Grape Creek RR.—1st mortgage. ...c '
7 1880
1,000
Shawn & Ind State Line bonds, assumed, s. f . .c'
13 1881
1,000
Chicago & Fast Illinois extension, 1st mort___c’
15 1881
1,000
Consol, mortgage, gold (for $6,000,000) s. f .......c= 208 1884
1,000
Collateral trust bonds, sinking fund.................. c’
1887
1,000
General consolidated mortgage.................... ..c&r
277 1887 l,000&c
Chio. & Indiana Coal—1st M. ($25,000 per mile. o'
172 1886
1,000
*
* N o r t h e r n .—Owns from Oregon 111»
to St. Paul, Mum., 33?miles; Fulton to Savanna, 111., 17 miles; branches
14 miles; total, 363 miles. Completed Aug., 1886. In 1890 <9 Ofis <snn
B
o f the $9,289,500 stock (par, $100), was purchased at 40 by’S I g o
Burlington & Quincy. (See V. 50, p. 390.) The Chicago Burlington *
Chicago & Io^ a S ^ e a trafflo guarantee for twenty years of
one-half o f their net earnings derived from business to and from the
jugo Burhngton & Northern (to be not less than $100,000 per year)
a ft e iM a r c h ^ T s q 0 S ^ ca? 0 BurHugton & Northern firsts at lO sfan d
«
alter March 3 1 ,1 8 9 6 , the whole issue may be retired at 1 05
omo o ° ^ o anua.ry I t ? March-Si, 1891 (3 months), gross earnings were
$483,808, against $462,071 in 1890; net, $185,561, against $17(f 437
C h ic a g o B u r l i n g t o n & Q u i n c y .—(See Map. ) - L ine of R o ad —
Mam line from Chicago, 111., via Burlington, Iowa, and Pacific Junction
ru,P?nver’ 1>
028 miles. Also has line in Illinois to East St. Louis and to
Quincy, connecting with the Hannibal & St. Joseph Road (purchased bv the
^uiC ? i P Urlm^ 'on*</i< iillcy,in 1883)> across Missouri to St. Joseph.
^
fe ^
The mileage reported Jan.. 1, 1891, was 5,216, of which 158 mues
were leased or operated with other companies. In addition to this the
company controls and largely owns the St. Louis Keokuk & North West218 unles (of which 41 miles are leased or operated jointly
T i 9 ^ « H C u Pa,iieS) the Kansas City St. Joseph &P
hm e% ^
Council B l X
i £ 3 ??ideM3 miles leased or operated jointly with other com panies)’
the Chicago Burlington & Kansas City, 220 miles (39 miles leased
or operated jointly with other companies); the Chicago BTrlington&
^ S ^ n ^ d im h !1 6!! !! !^ .&hal£'interest with Waha«h in the Humeston
^
$9,000,000
27,892,000
7,639,200
7.885.000
5,000,000
3.347.000
840.000
1,065,600
1.076.000
669.000
349.000
1.125.000
901,280
600.000
6,197,800
4,830,700
2.989.000
119.000
150.000
103.000
2.725.000
42,000
4.197.000
4.402.000
5
4
5
M. & N. N.Y., Bk.of Com.& Bost
M. & N.
do /
do
M. & S. Boston Office and N. Y.
J. &J. Boston, Bk. of Com’rce.
J. & J.
do
do
J. & J.
do
do
F. & A. N. Y , F.L.&T.CO.& Bost.
J. & J. Boston, Bk. of Com’rce.
May
May
Sept.
July
July
Jan.
Feb.
July
1,
1,
1,
1,
1,
1,
1,
1,
1913
1927
1903
1918
1918
191G
189ft
1918
J.
J.
A.
M.
J.
J.
&
&
&
&
&
&
J. N.Y., F.L.&T.Co.&Bost,
D. Boston, Co.’s Office.
O.
do
do
S. Boston, Bk. of Com’rce,
D.
Boston.
J. Boston, Co.’s Office.
July
June
Oct.
Mch.
Dec.
Jan.
1,
1,
1,
1,
1,
1.
19001
189ft
189ft
1908
1927'
1910
J.
M.
J.
J.
6 g. A.
F.
I e- M.
5
J.
&
&
&
&
&
&
&
&
D.
N.
J.
D.
O.
A.
N.
J.
Oct.
Dec.
May
Oct.
Deo.
Oct.
Feb.
Nov.
Jan.
1,
1,
1,
1,
1,
1,
1,
1,
1,
1891
1907
1920
1921
1931
1934
1912
1937
193ft
6
6
4
5
6
8
8
7
7
6
7
lia
6
6
6
6
N.Y., Hanover Nat. B’k
N.Y.,4th Nat.Bk.& Bost.
Boston, Globe Nat. Bk.
N. Y., Central Trust Co.
N. Y., Fourth Nat. Bank.
N. Y., Central Trust Co.
do
do
do
do
N. Y., Met. Trust Co.
a n d F inances.—-The Chicago Burlington & Quincy R R
the most profitable in the country, as its numerous
trl' )uta^y to the main line were built into choice agricultural
íltes* ThrVVmTÍll li? luoyed a “ onopo1 0* the local business at full
A
/
^ates. The company for many years paid 1 0 per cent, then 8 Der ce n t
?
®
1Ilce 1 8 8 7 smaller dividends, owing to the increased competition
and lower rates and the extension of roads in the far West.
P
aud uet monthly earnings below include the returns o f
“ teter¿V recáv T d ^ h m th eyearlyin00m e acoouut appear only under
. Br01 Juuuary 1 to July 3 1 ,1 8 9 1 (7 months), gross earnings includIP
iug lines controlled, were $ 1 7 ,5 3 1 ,0 8 1 , against $ 1 9 6 5 8 4 2 8 in i son 414 609^8úrDhí^^59fi^n^362’ ? 59,’ charges, $5,552,000, against8
$5,a 9 ’ 8urPlus’ $596.082, against surplus of $947,650 in 1890
v r P° r t¿°ar
£
Published at much length in the
Chronicle, V. 52, p. 569-572. Earnings have been as follow s:
h o ? Pw
nrf«
™ ffl
a
11+°<v?
O P E R A TIO N S AND F IS C A L R E S U L T S .
Operations—
1887.
1888.
1889.
1890.
4,693
4 917
Miles operated........
5,140
5,216
Pas’g’rs car.onem*.............
268,778,494 292,535,18ft
Tons car. one mile............
1,752,248,595 1,978,896,694
-Earnings—
$ "*
$
® ^
Passenger................ 6,629,859 6,146,121
6,223,510
6,369,64ft
Freight.....................18,675,655 15,484,035
18,190,818
18,843104
Mail, express, &c... 2,270,564 2,159,011
2,363,985
2,513 217
Total gross earns.. .27,576,078 23,789,167
26,778,313
27,725,967
Oper. exp. & taxes..16,097,913 18,882,460
17,690,547
18,749,699
Net earnings......... 11,478,165 4,906,707
9,087,766
8,976,268
P. e., op. ex. to earn.
58-38
79-37
6606
67-62
’ Not includim those carried on mileage or season tickets.
River m Iowa. In 1880 the Burlington & Missouri m Nebraska was
INCO M E ACCOUNT.
for °r«if^'isT +B«Si ^ i . e8 are Practically owned and there is no charge
iiie
n
„
. i
1887.
1888.
1889.
1890.
Receipts—
a
*
4< reni a£8 -1 1j.?16 ujoome account, except as interest on bonds The
!i™
1
a
$
otlicr roads above-mentioned is in the stocks and Net earnings.......... 11,478,165 4,906,707
9,087,766
8,976,268
JjPfRf8 thereof, an<I their accounts are k§pt separate. In August 1885 Interest & exch’ge.
859,055
169,601
672,863
806,035
the agreement was made with the Chicago Burlington & Northern for NetB.&M . landgr.
567,083
408,555
291,443
178,455
W 7 5S0 only o ^ h ^ ^ V ^ ^ i company until March. 1890 e d $3,O97m00 onlv off the stock of that0^ 0 Burlington^ Qm* cy o ^ when a Total income...........12,904,303
5,484,863
10,052,072
9,960,758
Disbursements—
puroiMe<L
F“ » en l« D eoeijjer 31.
Rentals paid............
198,168
193,709
192,119
206,078
Interest on debt.... 4,587,762 5,111,527
5,425,611
5,491,992
Dividends............... 6,111,064 3,819,578
3,055,704
3,819,630
Rate o f dividend__
8
Stocks and B onds .—The stock has been increased for the acauisition
5
4
5
Carried to sink’g f’ d. 500,154
691,474
D iv id e n d s ’
a di8tribution of 20 per cent was made
744,472
745,492
Hividenas—In 1877, 9 per cen t; in 1878, 10*2 : in 1879 8 • in i ssn
Tote1 (lisb’sem’ts.11,397, ^ 8 9,816,288
9,417,906
10,263 192
1889*4^fn l S ^ O ^ t e / s u i 1 m 88V V 1? 87 inclusive, 8 ; in 1888, 5 in
A
1 ? i?* v
-M
-arch> 1» June, 1; September, 1.
Balance, surplus
1,507,155 df.4,331,425 sur.634,166 def. 302,434
, j?*?®®
1 tock—In 1881, 1331
®
a'®1821 ; in 1 882,1201
2
e®141 • in 1888 onJ* w°kS* 467„’ a4 8 9 ; 482a 4 8 5, 622, 703, 875; V. 51, p. 20, 142, 276
ln y884, 107®127%; in 1885, 115i«®138:1 ’ ’ in 188fi’
«
’
’ 321, 549, 5 6 9 ’ 5 7 2 ’ 574> 643>657, 93%
128%® 141; in 1887, 12378®156; in 1 8 8 8,103%®130hj- in 1889 897o V 537i. 325.‘)
ln .18l ° m 1891,to Sept 18 teclusiv’e.
iU I n o t » .—r-See M a p j-O w n s from Dolton.
the amount of bonds outstanding m the table above are
cost of
8^18V ? u t h e r bonds (the whole representing a HI., to Danville, 111., 107 miles; second main track, Dolton to Momenee
cost o i $ 1 3 ,8 1 3 ,9 3 5 ) were on January 1 .1 8 9 1 held nii™ ar>n
fiunction ^ /t b ^ b ^ r ih i« 001* ’ ^ 0^ 168’ ^ “ cuce to Indiana State line
the Chicago & Indiana Coal), 11 miles; Wellington
interest for accountof the various sinking funds; Chicago Burlington
Jmiction to Cissna Park, 11 miles. Proprietary lines—Chicago & In1 9 ^ m$879 200'^S-Urf1 gtei^^ M i^ 526’^^0 ;xrI>eilver extension 4s, due diana C°al Railway, Brazil to La Crosse, Ind., 145 miles, and branches
u rfin
iive ’ t!5
?
’
ngton & Missouri in Nebraska 4s of 1880 3*985 vansville Terre Haute & Chicago Railroad, Danville^
Republican Valley 6s of 1879, $205*,200; Burlington & Missouri
> Ot7 Or00h Junction, Ind., 4:9 miles; Indiana» Block final 'Railt©r
in Nebraska consolidated 6s of 1878, $5,281,200; but onlV $2 870 200
amount in the sinking fund for the issue itself y Tnnnnrv i TOad Otter Creek Junction to Brazil, Ind!! 13 mile“ T r l c k a g e - S r
C W c L o T &nw °
Iad 7 J3& & T. H.) 6 miles; ^ o l t o n t e
S n f m n I r S k ) 469 L Z
(S
T° tal o p e ra te d ’ bucluding 3 3 miles
CinSmiatiChtea^oAisf1 ^ Tuscola to Shelbyville on the Cleveland
’?
189?
Lo o 8’ * 0 uu1 8- t0 he completed in November»
4
«
yP?ned to Sullivan, 2 2 miles, m September, 189 1 .— (V. 53 , d . 4 0 7 i
branches hiiving an aggregate length of 511 miles The oVdv nrioV VincftuD1 C n ° i « « ^ a8tuIllillol^.^as °hartered as Chicago Damrille &
^ ? 1865, and opened in 1872 and 1873. Sold under foreVincennes m
to t e l^ f M ^ S O ^ T i f e ^ ^ ssou ri A v e r Railroad in I o w a S s t o a
berSY ei 877rUii.y w h877’ aud reorganized under existing title Septemem cain
F®hru^y 1 8 8 9 , made an exchange of stock with the
are subject to call at 100, the 5s at 105. The Denver Extension bonds are the comr^nv’i pS* C° al Kailwa7’ whose stock is now held as an asset in
the eompany s treasury. See Ch ronicle , V. 4 6 , p. 1 34 , V. 4 8 . d 3 3 4
for status as given m applications to the Stock Exchange.
a .ten-year tratHc contract was made with the
ondtrack) upon about 400 miles ofroad, representing five d ifferent
C h fcT g o^ d E?an6 S
s
th® operation of a tr o u g h line between
, Bniler the terms of leases the Chicago & East Illinois guarantees
tor’ » 1 , toey
’s S e f t t o i a n f e « « ™ ‘ 81nSms f t m a 1 l » r
CC collateral trust Nebraska extension bonds of 1 8 8 7 (New E n gla n d ^ aa16! 4 on $1.400,000 bonds of leased roads. I hire are also $64,000
he
Trust Co., of Massachusetts, trustee) are issued at $20 000 Der miFe for
0 i.gase mcomes, due 1907, outstand ng. Owns control of
1
single track and $ 1 0 ,0 0 0 per mile additional for se b Z d tra^k See t k S J / w
Haute & Chicago Railroad and $1,000,000 stock o f
abstract of mortgage in V. 45, p. 441.
»econu rracK. see z
& Western Indiana—
which see.
ih e general consolidated mortgage o f 1887 (trustee, Central Trust
The 5 per cent debentures issued in 1890 are convertible into stock at
any time prior to December 1,1902. (See V 50 d 622 i
TO K at Company) provides for the retirement of $8,000,100 prior bonds and
C
a
Many of the bonds are redeemable (may be drawn) before maturity at «vrnnn aG 0f h°nds on new road at $18,000 per mile for single track»
track P6r mde addltl0nal i ° r equipment an«T$8,000 per mile for double
Burlington & Missouri in Nebraska 6s, due in 1918 are redeemable aV
100, but this for the “ exempt ’’ bonds applies only after 1908.
T ^i?+C 0
^ r^*ondiana/.CSall? r4t mprtgEige of 1886 (ta-ustees, MetropoUtan
Trust Company and R. B. F. Pierce) is for $1,000,000 on road from
INVESTORS’
SUPPLEMENT.
[V ol .
Lin.
S e p t e m b e r , 1891.]
R A IL R O A D
S u b s c r ib e r s w i l l e o n fe r a g r e a t fa v o r b y g i v i n
RAILROADS.
-----if column beadiuSo,
on first page of tables.
STO CKS
249
Income bonds for $10,000,000 non-cumulative
249
terminal 1st mortgage, int. 4 p. c. till July, 1893
(Jn/Lcago <& G r a n d T r u n k —Northwest Gr. T’nk.,lst]VI
66
1st mortgage for $6,000,000 ............
327
2d mortgage, $ and * . . . .......................... .'.‘.¿¿J r 327
Gnicago M i l w a u k e e <£ St. P a u l —Common stock
Preferred stock (7 per cent yearly,not cumulativ«
Mil. & St. Paul, Lacrosse Div. 1st M., convert c’ 392
Minnesota Central IstM. (Minneap. toOwat.j.c’
49
Iowa & Minn. 1st M. convert, into pf. stock e’‘ 230
Prairie du Chien 1st M. (Mil. to Pr. du Chien) c" 195
2d mortgage, convertible into pref. stock c" 195
Iowa & Dakota 1st M., conv. into pref. stock *c 126
River Div. (St.P.&C.) IstM. qonv. into pf. stk'.c* 130
Mil. 1st mort. (conv. into pref. stock). .c*
85
t fii1 & 8t- p - consol. M.,conv. intopf. stock, c* 1,435
($15,000p.m.) con. into pf.st’k.c* 234
»•
1st mortgage Western Union RR..c* 212
So. Minnesota Div. 1st mortgage................. c* 4fl9
Mineral Point Division 1st mortgage..
"c* 142
Hast. & Dak. Div.,extens. IstM. ($15,000p.m'.)c* 395
Lacrosse & Dav. Div. 1st mortgage...
c* 185
Wisconsin Valley RR. Co. 1st mortgage....... c* 107
Wis. Val. Div. 1st M. of 1880, s. f., not dr’n c* 161
Dub. Div.(Ch. Cl. D.&M.) IstM., s. f., not dr’n c* 372
Chic. & Pac. Div. 1st M. (Chic, to Miss. Riv) c* 120
Western Division 1st M., g., $20,000 per m c* 1,267
Chie. & Lake Superior Div. 1st mort., gold c*
68
Wis. < Minn. Div. 1st M. ($20,000 p. m.) gold
fe
230
Fargo & Southern 1st mort., gold, assumed
119
BONDS.
33
I m m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d In th e s e T a b le s .
Miles Date Size, or
8 of
of
Par
Road. Bonds Value.
Chic. <& Erie —1st M. for $12,000,000 g.,int. guar.c’
*
AND
Amount
Jionua—Princi
INTEREST OF DIVIDENDS
pal,When Due.
r When Where Payable, and by Stocks—Last
Cent. Payable
Whom.
Dividend.
1890
1,000 10,637,000
. M. & N.
New York.
May 1, 1982
1890 l.OOO&c 10, 000,000
5
Oct. 1.
N. Y., when earned.
1888
300.000 4 to 5 J. & J. N.Y.,Drexel,Morg.«fe Co. Oct. 1, 1982
July, 1918
1880 $500&c.
$558,000
6
J. <c J. N. ï.,E.P.Beach,B’wav. Jan. 1, 1910
f
1880 *100 &c 5.442.000
J. & J. New York and London. Jan. 1, 1900
1882
1,000
6 , 000,000
i g- J. & J.
do
do
Jan., 1922
100 46,027,261
2*2 A. & O. N. Y., Office 42 Wall St. Apr. 23,188a
100 22,198,900
3*2 A. & O.
do
do
Oet. 22, 1891
1863
1,000
4.623.000
7
J. & J.
do
do
Jan. 1, 1893:
1864
1,000
123.000
7
J. & J.
do
do
July 1, 1894,
1867
1,000
3.198.000
7
J. & J.
do
do
July 1, 1897“
1868
1,000
3.674.000
8
F. & A.
do
do
Feb. 1, 189a
1868
1,000
1.239.000
7-3 F. & A.
do
do
Feb. 1, 1898
1869
1,000
541.000
7
J. & J.
do
do
July 1, 1890
1872 $ & *
3.804.500
J. & J. London and New York.
1873
1,000
2.393.000
? g- J. & J. N. Y., Office. 42 Wall St. Jan. 1, 1902
Jan. 1, 190»
1875
1,000 11.486.000
7
J. & J.
do
do
July 1, 1905»
1878
1,000
3.505.000
7
J. & J.
do
do
July 1, 190»
1879
1,000
4.000.
000 6
J. & J.
do
do
July 1, 19091880
1,000
7.432.000
6
J. <e J.
f
do
do
Jan. 1, 1910
1880
1,000
2.840.000
5
J. & J.
do
do
July 1, 1910
1880-6 1,000
6.670.000 7 & 5 J. & J.
do
do
Jan. 1, 19101879
1,000
2.500.000
5
J. <c J.
f
do
do
July 1, 1910
1879
500
1.106.500
7
J. & J.
Boston.
Jan. 1, 19091880
1,000
2.391.000
6 i J. & J. N.Y. Office. 42 Wall St. July 1, 1920
1880
1,000
6.565.000
6
J. & J.
do
do
July 1, 1920
1880
1,000
3.000.
000 6
J. & J.
do
do
Jan. 1, 1910
1881
1,000 25.340.000
J. & J.
do
do
Jan. 1, 192L
1881
1,000
1.360.000
do
i f J. «fe J.
do
1881
1,000
4.755.000
fe
do
5 g- J. < J.
do
1883
1.000
1.250.000
6 g. J. <e J.
f
do
do
auu ®ia,wupermue $7,000 ol this for eauinmentl
i1 ot)U vr«aka*a’ 1,097:, trackage, 45. Total miles operated, June 30
8
5
for extensions; second track, $8,000 per mile
Common stock is $6,197,800; par, $100. The common stock is 1891, 5,766. Since acquired, 70 miles. See V. 53, p. 125.
Also owns the entire stock of the Milwaukee & Northern R R . Co but
e^itled to all surplus after 6 per cent on the preferred stock
operates it separately, its road extending from Schwartzburg, Wis. toDi ^ ? n« s 8mce . 881—On common, in 1882, 3 per cent; in 1886, 5; Champion, Mich., 254 miles, and branches, 108 miles.
1
1
8
iaan88i ; ^ i n£ne ^ ceL 9? new Preferred in 1888, 7*2; in 1889, 6 in
1890, December, 6 m preferred stock. (See V. 51, p. 715); in 1891 n.T?^GAN,
r Io^iION’J
&c’_ 5lhe Milwaukee & St. Paul R R . Co. was organized.
April, 1^2 m cash; July,
Oct., IU j
.
h
’ Muy 5,1863, and on Feb. 11,1874, took its present name. The stock:,
fc
From July 1,1891, to July 31,1891 (1 month), gross earnings on 436 of the Milwaukee < Northern was acquired in September, 1890, in ex$138S
,583re$
’183’ aSaiMt $280’076in
,S L V & “ ^ p i S S L , T
1*6
*-*■>*>■
mdf ^ une30’- In advance of the annual report the re
sults ior 1890-91, m comparison with previous years, are given as follows:
each year, but if not earned it has no cumulative right. If a dividend
IN CO M E ACCOUNT.
y as ®
a£ned m aa7 year and not paid, there might be a claim on future^
.
m. .
.
1888-89.
1889-90.
1890-91. i y^r^, for such dividend. After payment of 7 per cent on preferred
Total gross earnings...............$2,719,932
$2,911,723
$3,567,195 i fs 1 $4^0621
560n’ b0th classe8 share p r o rata. Common stock authorOperating expenses < taxes_ 1,724,547
&
_
1,731,369
1,946,499 c“
I tnioo?6' 8 since 1873—On common in 1879, 2^ per cent; from 1880
i
Net earnings----.'.............. $995,385
$1,180,354
$1,620,696 iQQQ84^in?lusive-i7;^ n 1885, 4; in 1886 and 1887, 5; in 1888, 2 ^ - in
’
Net income (including other
I Ilfs
inl874- 7in consolidated bonds; im
income).............................. $1,000,398
E£876. 3 casl1 an<i 14 Per cent m bonds; in 1877, 31« • in
’or^
$1,212,346
1,660,279 io io ’ ?ai m
Deduct —
*»«*«•«>
Interest.....................
$724,550
$771,514
$769,904
Rentals.................................
222,118
inl881.101i«®129U200,061
204,226 • ^ ic e c f common stock—In 1880,
Dividend on pref. stock.........(6%) 267,912 (3%) 133,956
O
4833’
; in 1884, 581 ® 94 j ; in
4
4
(6%)289,84
1885, 64%®99 ; m 1886, 82Ss®99 ; in 1887, 69i%®95; in 1888, 5 9 W a >
Total........-......................$1,214,580
$1,105,531
$1,263,972
11 189° ’
1891, to
88sV t9 18.
Balance.............................def. $214,182 sur.$106,815 sur.$396,307
George W. Saul, President, Chicago.—(V. 50, p. 174, 205, 735, 800.
V.51, p. 171, 568, 680, 715; V. 52, p. 680,762,795, 862; V. 53, p. 407.) 102®125 ; m 18 8 6,116®125%; in 18 8 7,110®127:i4 ;8 in 1888 98!«®^
C hicago * E rie .—Owns from Marion, Ohio, to Hammond, Ind., 117; m 1889, 97®118; in 1890, 99^®123i8; in 1891 to Sent 18
r£?/>Jndes-ir»aild'i*ea8^? trackage over Chicago & Western Indiana to ¿ t a S n g ’*208?5®nAn138’ ? f ,i,he P>?nd8 given in the table above as o if c
Chicago, 19 miles. Connecting line for the New York Lake Erie & ^ A^T^gi * 2’r 25’5?9^ ereliel<iln*becomPany sfreasuryonJan.lO, 1891
ii
abstf'1 of the terms of some of the principal mortgages was puba°f
Western and the New York Pennsylvania & Ohio to Chicago.
48, p. 830.
^^?,1
,1+^mpaa^1 8 a,reorganization of the Chicago & Atlantic, which U o f tni1tllG C/.'fONiCLE» Y- 45, pp. 85,114,144, 212, and V.reserved to.1
Cf the consolidated mortgage bonds of 1875, enough was
A ifOT^te o°?aQn;erTat
^
i<
1, 1884, and was sold in foreclosure
P ™ r bonds; these bonds may be stamped and discharged
aa9
aaa T l .
l eNew York Lake Erie & Western owns the entire
stock of $100,000 and guarantees the interest of the first mortgage from the sinidng fund provisions. The St. Paul & Chicagorthe^ C M c S
bonds. See reorganization plan in V. 44, p. 369.
8 8 ^.M'iwaukee, the consolidated, the Lacrosse Division the I o w a T
The first mortage (trustees Central Trust Co. of New York and Ed Dakoto, th etow a& p akota Extension, the Prairie du Chien 2ds, and.
Minnesota Division bonds are convertible into preferred
ward Daniels) bears 4 per cent interest till May 1, 1892, then 5 ner
.
termlual bonds issued in 1884 are secured by mortgage on
/ & 8 interest is guaranteed by Erie, as said above,
Praperty 1 1 Chicago and Milwaukee, subject to the lien of
1
noth the first and the income mortgages cover 249 miles of road, the fh«
A^?i.0rt^
-age
° t t5 e tracl1 and terminals; but it cover»
contract with the Chicago & Western Indiana, $1,000,000 of that comvir+imA^A?r0perty 9 ulie detached. The income bonds of 1886 are con« f ? nnn aaa o
°
an? $249>
000 ®
too|: of the Chicago Belt Railway. Of the
mt0 common stock, on notice, 60 days after any dividend dav.
$12,000,000 first mortgage bonds authorized, $2,000,000 were reserved
fund o f4 Per cent, and may be drawn at 105. They
for betterments and equipment. See full abstracts of mortgages in V. arp6L
51’ P913- J?ae for equipment May 1, 1891, $416,384; 20 per are secured by mortgage, subject to prior liens, on road from Chicago to.
aaa h w - ab°?t, ^ 5*m. le 9 Ia addition to above bonds thereg are
ri
cent of this sum $83,276 83—-to be paid down and the rest in twenty « 8<?
dueJan., 1903, convertible into pref. stock;
quarterly payments of $18,927 29 each.
V
y ffso « 29?AAA r? 8&
5 per cent real
a A ° + ? ^ £ ercf nl ag! o£
gross earnings is each year to be applied, a,lso $225,000 gold mortgageestate mortgages due inl894.
The general
of 1889 for $150,000,000 was fullv defirst to payment of interest on the first mortgage bonds, second topayT
C
|
ment of anv advances (with interest thereon at 5 per cent) bv Erie, ? ^ ? e aV \tllemCHRSNrCLE’ V‘ 48>p- 839: see ¿Iso Y 50,p 205.The .
thirdly to the payment of interest on the incomes. If the gross earn- United States Trust Co. of New York is trustee.
or less, then this percentage is Af0fhfftT,rONS’
also
io be 22^ per cent; if to more than $2,250,000 and less than $2 750 ooo bein1 i n c r Fi?ances>&c.—The mileage and 1879,the stock and debt
^
e a s e d very rhpidly after
the miles owned,'
+^en o§nPer cenf; if fo $2,750,000 or more, and less than $3,’250'000’
then 27}% per cent; if to $3,250,000 or more, then 29 per cent.
’
,he 8,oot ^ b0,ld6a debt- *»«•2^ n ^ 559y a i 489+’io i l}},y^?l ’ .1891 M month), gross earnings were.
loo30
gE
$2,149,068 m 1890 ; net, $725,312, against $666,,JO
8
9
s s s i s s f e s ’ w i<’"
h
™
|
a*. 72£' .^deage, 5 3 mdes, against 5,678 in 1890.
to
Iior, bern (operated separately) from July 1,1891.
t
^ A f™ *? ^ ? 088- earnings were $152,514, against
mo,“ h8,’ 8x0,8 earnln^, were II S2 888 p. m i Juet, $58,330,^against $42,586.
^’883.la 1890
6
« 7 iW o o ending June 30,1890, gross earnings were $2,710,276; net, wat-a t a9 «o/^aji 66 & Northern the total earnings for the year 1890-91
against$494*’ 45 ’ agamst $1-426,942 in 1889-90; net, $619,803,
9
<-h p 8-.#• 4 57 1
v -1 ?
0' 5-
r ffln 1
™nSrao?d T r u !lk :r°w n s from Port Huron, Mich., to
4 miles G r a m T ^ ^ l ?8e8+ mll£s Sf CMcag° & Western Indiana and
4
Stock^*6G600 0O0 m $100 shares.SaUrowl; total the Grand335 miles.
oxocK, J}>o,bUU,000 m
Controlled by operated, Trunk of
Canada, which gives a traffic guarantee of 30 per cent of ctoss earSnes
&313 ™77&against *<n *y
«t£ l* J l f i (5 “ °^hs), gross ^aminS^wel-e
t T
aJto77’ agaui8t .* 31 ‘ >
668 m 1890; net, *75,121, against £ 7 7 120
a
S
l S
s
S
f i net, *183,985; s ^ S e r f f i S :
Illinois, Wisconsin, Minnesota, Iowa and Dakota, which are well showS
on the accompanying map. The main through lines are from Chicago to
Milwaukee, 85 miles; Milwaukee to St. Paul I Minneapolis,vhi L a S s e
341 miles; Milwaukee to Prairie du Chien, 194 miles • McGrevnr
site Prairie du Chien) to Chamberlin, Dak., on the MissoiSi Ifver 442
mdes; Chicago, via Savanna, on the Mississippi River, to Council Bhiffsl
Iowa, 487 miles; Marion Iowa (near Cedar Rapids) to Kansas (Sty
39^ miles; Minneapolis to Aberdeen, Dak., 288 miles. On Jme 30 ,
'
£be mileage in Illinois was 318; in Wisconsin, 1,374; in Iowa
1,5«3; in Minnesota, 1,120; in Missouri, 140; in North Dakota, 118;
p ^88a 29iar ends 4une 39- Yhe annual report for 1890 was in Y. 53,
E A R N IN G S AND E X P E N S E S .
Miles operated June 30.
E a r n i n g s from —
Passengers ”..............
.
Freight.................
Mail, express, &c...... .]
Total earnings.......
Expenses for —
Maintenance of way....
Maint. cars and engines
Transportation.. . . . . . .
Taxes.................
Miscellaneous..............
Net earnings............ .
Per ct. of op. exp. to earns.
1888-89.
5,723
$
6,241,091
17,163,721
2,017,747
1889-90.
5,702
$
5,981,639
18,337,009
2,087,059
1890-91.
5,721
$
19,012,159*
6,277,774,
2,214,291
2Ò,422,559
26,405,707
27,504,224
3,121,841
2,502,118
9,943,493
803,517
. 177,415
3,119,714
2,639,849
10,388,382
830,046
195,106
3,763,983
2,787,924.
10,714,471'
857,906;
242,214
16,548,384
8,874,175
65-09
17,173,097
9,232,610
65-04
18,366,500.
9,137,724
66-78
IN V E S T O R S ’
SUPPLEM ENT.
S e p t e m b e r , 185*1.]
R A IL R O A D
STOCKS
AND
BONDS.
35
___________
S u b s c r i b e r s w i l l c o n f e r a g r e a t f a v o r b y g l v l n « - iin m
<>«i i „ <
__________________________________5 _______________ J 6 " " " n m n e c u a t e n o t i c e o f a n y e r r o r d i s c o v e r e d I n t b e s e T a b l e s .
on 01 column ueauings,
on first page of tables.
s
Date Size, or
of
of
Par
Road. Bonds Value.
Amount
B o n d s —Princi
pal,When Due.
Stocks—Last
Dividend.
INTEREST OR DIVIDENDS.
Rate pei When
Cent Payable
Whom.
Chicago Mil w a u k e e <è St. P aul— ( Concluded. )-
Fargo & Southern income bonds...................... .
Terminal mortgage, gold................. .............cs
Dakota & Gt. South’n 1st M.g. ($18,000 per mile.), Ì59
Chic. & Mo. Riv. Div. lstmort. ($20,000p. m.)
154
Inc. M., convert., s. f. $80,000 yearly (dr. at 105) c’ 525
Gen. mort., gold (for $150,000,000) Series A.c*&] ___
Mil. &Northern—1st mort. Schwarz, to Gr. Bay.c’ 126
Cons. M. ($17,000 p.m.), 1st north of Gr. Bay.c’ 362
-Chic. <•North Pac.—Ch. &Gt. West. 1st M.g.int.gu.c’
£
10
Consol, mort. for $30,000,000, gold, int. guar.c**]
■Chicago <6 Northwestern —Common stock.............. 4,250
Preferred stock (7 p. c. yearly, not cumulative).. 4,250
Peninsular RR. 1st mortgage on road and lands
74
Chic. & N. W. consol, sink.fund, mort., not drawn 776
Chic.& Mil. 1st mortgage, Chicago to Milwaukei
85
Ced. Rap.& Mo.R.—
lstm. 2d. Div.,Marsh’l’tn to Des. M. River,&(
58
1st mort. 3d Div., Des. M. River to Mo. Rivei 146
Mort. of 1884, 2d M. Ced. R. to Des M. River., 126
Iowa Midland 1st mort., Lyons to Anamosa___
69
Madison extens.lstM., g. (s.f. $23,000, not dr’n) 129
Menominee ext. 1st M., g. (s. f. $20,000, not dr’n) 120
Northwest. Union lstM.,g.,Mil.toFond-du-Lac.
62
Chic. & N. W. general consol. M., g., s. f., not dr’n 1,058
Menominee River 1st mortgage, two series ..___
35
Mil. & Mad. 1st mortgage, Milwaukee to Madison
81
Chicago & Tomah 1st mortgage...............
Chicago Milwaukee & N. W. construction bonds ( 153
Escanaba & Lake Superior RR. 1st mortgage_
_
36
1885
$ 200,000
1884 $1,000
4.773.000
1886
1,000
2.856.000
1886
1,000
3.083.000
1886
1,000
1.840.000
1889 lOOO&c, 12.720.000
1880
1,000
2.155.000
1884
1,000
4.003.000
1886
1,000
399.000
1890
1,000 19.350.000
100 31,377,345
100 22,333,170
1863
1,000
132.000
1865
1,000
12.767.000
1863
1,000
1.700.000
1863
1866
1884
1870
1,000
1871
1871
1872
1872 l
’76-’80
1880
1,000
51880
( 1882
1881
1,000
582.000
2.332.000
769.000
1.350.000
2.977.500
2.546.500
3.365.000
12.336.000
560.000
1.600.000
1,528,000
601.000
720,000
6
5 g.
5 g.
5
5
4 g.
6
6
5 g.
5 g.
3
1%
7
7
7
7
7
7
8
l
7
7
7
7
6
6
6
6
A. & O. N. Y., Oflice, 42 Wall St
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & D.
do
do
J. & D.
do
do
J. & D.
A. & O.
J. & D.
Q.—M.
do
do
M. & 8.
do
do
Q.—F.
do
do
J. & J.
do
do
F. &
■ M. &
J. &
A. &
g- A. &
g. J. &
g. M. &
g. J. &
J. &
M. &
M. &
M. &
J. &
A.
N.
D.
O.
O.
D.
S.
D.
J.
8.
N.
N.
J.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
April, 1895.
July 1, 1914
Jan. 1, 1916
July 1, 1926
Jan. 1, 1916
May 1, 1989
June 1, 1910
June 1, 1913
June 1, 1936
April 1, 1940
June26, 1891
Sept.24,1891
Sept. 1, 1898
Feb. 1, 1915
July 1, 1898
Feb. 1,
May 1,
June 1,
Oct. 1,
Apr. 1,
June 1,
June 1,
Dec. 1,
July 1,
Sept. 1,
Nov. 1,
Nov. 1,
July 1,
1894
1916
1909
1900
1911
1911
1917
1902
1906
1905
1905
1905
1901
INCOME ACCOUNT.
1888-89.
$
8,874,175
225,778
1889-90.
$
9,232,610
220,025
t C T o t h c l I s s S S 1 preferred 3 per cent?then common 3 per cent;
1
1890-91.
$
9,137,724
334,207
9,099,953
9,452,635
9,471,931
7,054,471
972,490
(41 onpref.)
2
7,214,155
1,296,828
(6 on pref.)
8,026,961
sur. 1,072,992
8,510,983
sur. 941,652
Receipts—
Net earnings.
Other income.
Total net income.
Disbursements —
Interest on debt.......
.Dividends..............
Total disbursements.
1889.
Assets—
$
S H S ij
8 ™ 8ept” 1891, botb mclusive, at rate of 7 per cent
7,237,251 yearly.
1,532,152
Price of common stock—In 1880. 87 i«® 130 ' in issai
.
(7 on pref.)
8,769,403
sur. 702,528
JUNE 30.
1890.
$
1891.
$
(Road and equipment....... 183,889,871
Bonds and stocks owned.
1,197,965
Due from agents, &c.......
195,254
Due from XL 8. Governm’t
316,003
-Materials and fuel...........
1,932,491
Bonds of comp’y on hand.
738,000
«Cash.......... ..................
2,936,609
Miscellaneous.......................
1,358,812
185,631,301
1,233,388
214,957
247,858
2,407,369
2,178,000
2,961,930
1,449,498
189,624,728
7,337,244
256,914
276,251
2,313,223
5,692,000
3,493,760
2,026,284
Total assets.................... 192,565,005
Liabilities—
,
-Stock, common___.“. .......
39,868,961
-Stock, preferred.............
21,610,900
.Funded debt.............
123,765,000
Pay-rolls, vouchers, &c...
2,183,076
Interest accrued, not due.
3,478,497
Loans and bills Davable...
Miscellaneous........
119,889
Income account...................
1,538,682
196,324,301
119%®1397 m 1886, 135®144; in 1887, 138®145i«- in 188« lo ll.'
8;
inclusive1 l S o l l S ^ ® 14412! in 189° ’ 134® 148; in 18’91> to !!pt. l j
!
211,020,441
bonds ^^rrthe new*roads acquired*^r^he°i^e^of ^$15 ww> ^n0^
$6,305,000 of them are 6s, and the sinking fund is at, least i noi-’ ?»„7,Jl
outstanding bonds, the bonds being drawn at 105 There are several
39,868,961
21,839,900
125,693,000
2,880,278
3,529,492
46,027,261
22,198,900
129,797,000 cavn8tll^ f ^ nddebe1
ptuZe 0f 1933 were issued to pay for the Chi
^
2,786,778 cago St. Paul Minneapolis & Omaha stock: the Sinking fnnd fnr+lie^i
3,546,775
3,477,228 nnn aaa1® m
1’
y6>900,000 5 per cent debentures and in 1891 ffiio.
93,156
91,646
2,419,514
3,094,853
Total liabilities............ 192,565.005
196 32A « m
0 1 1 non a a -i
A
lix?t!SfesteF 1 extension bonds of 1886 are direct bonds
"240^*¿M3 ^381^3^3* ^ ^ 4 ^ 4Lf?
v 9 V;^’^bl9^ P
^'29^’ " 1 ^ ^ 7 - ^ l f JL nfTti? Crif^,f0 &J
Northwestern Company, secured by
L57, lo o ! 222,238 % 9 l 1 )
88
’ 57° ! V‘ 52> P' 41’ 427; V’ 53’ P- 12£ trust of the first mortgage bonds of roads constructed orthe denosit in
acauired at a
ijpt ©xceeding $20,000 per mile. The mortgage is for $20 00f> non
1^
° . *
N o rth e rn P a c i f i c . —This company was organized in
Company of New Y o rk T ta ffie ° * 20’000’000*
+% 1
?tei est of B1 Northern Pacific Railroad to acquire the im6
The FremontElkhorn & Missouri Valley bonds have a first lien on
- ythe CMcago & Great
b
western, sec. ine Chicago & Calumet Terminal Rail wav Artpufiim. & £ L 5 ^ x (I^ mon<i , Neb., t0 Deadwood, D. T ™ 5 5 7 ¿ t ie s a n d
Ind-’ 7ia Blue Island and Worth to La Grange 50 miles branches to Hastings, Albion, &c., 595 miles), but besides the amount
ln a^’26 lines of railroad entering Chicago has of issue given as outstanding in the table $10,675,0008are held asnart
for Chicago & Northwestern extension bonds of 1886. ^The
» A b\ este/ n assumed $3,600,000 of the Fremont Elkhom & Missouri
Valley bonds and guarantees the remainder.
ssourl
« 2*528SSSIStellSSS
S& uR
L and Geant .—The lands of the company have been acauired hvthn
f f i S 0 T^6^ in0na * 8t- , oter and otherroadsthathavebJe^on
p
Th® is a purchase money mortgage to the City of Chicago for <650
re
B
Minneapolis and Omaha, 1 438 miles* Fremont
a s s e s s
the statistics o? t w n il 08
for tb?- Chicago & Northwestern proper,
53®p. 199^ 222. th T^ s'Mlssouri lmes are given in the Chronicle; V.
ROAD AND EQUIPMENT.
Tot. miles oper’d
Locomotives,...
Passn.,&c..cars..
Fr’ght,&c.,cars..
1887-88.
4,211
766
509
24,262
1888-89.
4,250
*786
546
25,746
1889-90.
4,250
806
558
26,384
1890-91,
4,273*
846
558
26,348
Operations and fiscal results
Operations —
Ratep.pass.p.m.
2-30 cts.
2-24 cts.
2-17 cts.
2-17 ets.
Ratep. ton p.m.*
1-02 cts.
1-01 cts.
0*98 cts.
1’02 cts.
Earmngs—
$
$
53,800 shares of preferred and 93,200 shares of common s W h
f
$
Passenger................ 6,279,621 6,261,277 6,285,179 6,700,351
freight...................
on 1Mail, express, &c.... 19,118,797 18,193,646 19,654,213 19,829,341
1,299,140
1,237,336
1,225,445 1,263,982
Stocks^i K m »
m a . Tbe annual meeting is held early in June.
th !T com pt^’s
O
BS u r ? f I n M a T s i "Sffi. ^ r n f f l ^ t o t ^ '“ S “
J
_Totalearnings.... 26,697,558 -25,692,259 27,164,837 27,793^674
^tock $41,387,150. Preferred stock has a p ^ r r S h U o ^ per c e n u C 1
;
On paying freight only.
36
IN V E S T O R S ’
SUPPLEM ENT.
[ V o l . L in.
S e p t e m b e r , 1891.]
R A IL K O A D
STO CKS
AND
BONDS,
3 r
S u b s c r ib e r s w i l l c o n fe r a g r e a t fa v o r b y g iv in g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d in th e s e T a b le s .
B o n d s —Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
of
For explanation of column headings, &c., see notes of
Par
Where Payable, and by Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.
Chicago & Northwestern —(Concluded.)—
Des Moines & Minn. 1st M.,Des M.to Jewell Jc.,&c.
63 1882 $1,000
$600,000
Ottumwa C.,F. &St. P. IstM., guar. ($25,000p.m.)
64 1884
1,000
1,600,000
Northern Illinois 1st mortgage ($20,000 p. mile).
75 1885
1,000
1,500,000
O.&N.W.s.f.h’ds of ’79($15,000p.m.)red.atl05.c&r 1,041 1879 l.OOO&c 14,185,000
Sinking fund debentures of 1933 (not dr’n).c*<fcr
1883 l.OOO&c 9,800,000
1884 l.OOO&c 3,869,000
Debenture bonds of 1909 (for $6,000,000).e*«fer
*< r
30-year debentures for $10,000,000..... ... c fe
1891 l,000&c
5,000,000
Extension 4s ($20,000 per mile)................c&r
1886 l,000&c 18,632,000
Other small issues (see remarks)......................
379,000
Winona & St. Peter 2d mortgage (now 1st) guar.. 139 1870-1 1,000
1,592,000
1st mortgage extens., gold,land grant,s.f.,guar. 187 1871 100 &c.
4,067,500
Maple Riverlstm.,Maple Riv. Jc. to Mapleton,gu.
60 1877
402,500
24 1878
Roeh. & No. Minnesota 1st mortgage, guar........
200,000
Dakota Cent. IstM.,Watertown to Redfleld, guar.
71 1882
1,007,000
1st mort. on Southeast Div. (to Hawarden) guar.. 125 1882
2,000,000
Fremont Elk. & Mo. Yal. consol M. (see remarks). 1,152 1883
1,000
7,725,000
S. C. & Pac. Car Tr., ass’d,$40,000 dr’n yearly.c
1883
1,000
199,000
Sioux City & Pac. pref. stock (1st mort. on 6 m.).
6
100
169,000
102 1808 500 &c.
1st mortgage (assumed by C. & N. W.)...... .....
1,628,000
2d M. Govemm’t lien (accrued int. $2,237,749). 102 1868 500 &c.
1,628,320
Mo. Y. & Blair RR. Bridge, 1st, re’ble after 1893.
1883
1,000,000
Chicago & Ohio River —1st mortgage (for $500,000)
86 1886 10Ó &c.
250,000
Income bonds.... ...................... ; ....................
1886
618,300
Chicago Peoria & St. Louis— lstmort., gold, guar..c* 120 1888
1,000
1,500,000
1st consol, mort. ($15,000 p.m)..................... c* 170 1889
1,000
1,044,000
Consol, mort. for $20,000 per mile, gold.......... c 170 1891' 1,000
(g
Jacksonville Louisv. & St. L. 1st consol. M. gu.c* 112 1890
1,000
1,680,000
Chicago R o c k Island <6Pac. —Stock (for $50,000,000)
100 46,156,000
1st mort., Chic., 1 1 to CouncilBluffs&branches.c* 736 1877 l,000&c 12,100,000
1 .,
Chic. & Southw. 1st M. (g’d in cur. by C.R.I.&P.). 268 1869 100 &c.
5,000,000
1887-88.
Expenses —
$
Maintenance of way. 3,351,700
“
cars, &c. 2,507,673
Transports & miscel. 10,055,684
Taxes....................... 755,742
1888-89.
1889-90.
1890-91.
$
$
$
3,160,704 3,680,437 3,353,694
2,376,125 2,569,167 2,855,480
9,788,821 10,401,398 11,227,355
701,637
754,103
854,476
16,670,799 16,027,287 17,405,105
10,026,759
9,664,972 9,759,732
P. c. exp. to learnings.
62-44
62-38
64-07
INCOME account.
1887-88.
1888-89.
1889-90.
Receipts—
$
$
$
Net earnings..... .
10,026,759
9,664,972
9,759,732
Investments, etc.....
528,948
285,377
340,739
Total receipts.
Disbursements —
10,555,707
Sinking fund.
5,744,105
3,444,504
58,000
18,291,006
9,502,668
65-81
1890-91.
$
9,502,668
, 259,585
9,950,349 10,100,471
9,762,253
5,825,833
3,444,504
58,000
5,880,390
3,445,804
201,301
5,826,936
3,444,979
202,570
Total disbursm’ts. 9,246,609
9,328,337
9,474,485
9,527,495
1,309,099
622,012
625,986
234,758
GENERAL BALANCE MAY 31.
1889.
1890.
18^1.
Assets—
$
$
Road and equipment............. 150,822,658 153,403,472 157,193,271
Bonds owned................
11,199,310 11,219,551 *14,912,909
Stocksowned......... .............. 12,467,159 12,151,500 fll,966,500
276,000
422,794
Land grant investments........
675,000
Bills and accounts receivable..
1,977,541
1,825,439
1,751,922
Materials, fuel, &c..................
1,644,709
1,978,007
2,026,245
Cash on hand........................
3,204,384
2,148,880
2,680,248
Trustees of sinking fund........
4,522,402
4,747,971
5,600,101
Total............................. 186,114,163 187,897,614 196,806,196
Liabilities—
Stock, common and preferred,. 63,700,320 63,720,320 Î63,720,320
Stocks of propriet’ry roads, &c.
584,360
579,110
529,885
Bonded debtlf....................... 105,121,500 104,985,500 112,570,500
Dividends declared, not due...
1,331,599
1,332,075
1,332,075
Sinking funds paid...............
4,522,400
4,747,970
4,972,271
Accretions to sinking fund___
627,830
Current bills, pay-rolls, &c.....
1,294,873
2,102,309
1,946,601
Uncollected coupons, &c........
147,458
176,327
177,131
Due to roads in Iow a.............
1,048,092
984,612
1,302,195
Note of Consol’n Coal Co.......
125,000
125,000
Accrued and accruing interest.
1,574,828
1,573,344
1,649,017
Miscellaneous........... ...........
167,369
120,087
244,649
Land income account...... '...;
1,570,715
1,954,421
2,387,548
Railroad income account.......
4,925,649
5,470,733
5,371,977
Total.............................. 186,114,163 187,897,614 196,806,196
7
5
5
5 &6
5
5
5
4
F. & A. N. Y. ,Co. ’s Office.52 Wall
M. & S.
do
do
M. & s.
do
do
A. & 0 .
do
do
M. & N.
do
do
M. & N.
do
do
A15&0
do
do
F. & A.
do
do
do
do
M. & N.
7
do
do
do
7 g. J. & D.
do
J. & J.
7
do
do
M. & S.
7
do
do
M. & S.
6
do
do
M. & N.
6
do
do
A. & O.
6
do
do
M. & S.
6
do
do
do
3^2 A. & O.
do
6
J. & J.
do
do
6
J. & J. U.S. Treas., at maturity.
6
J. & J. N.Y., Bost. Col. Nat. Bk.
6 g. M. & N. Int. funded for 3 years.
M. & hi.
6
No coupons paid.
5 g. M. & S. N. Y., Amer. Ex. Bank.
5 g. M. & N.
do
do
5 g. J. & D.
do
do
J. & J. N. Y.,Am.Ex.Bk. &Phila.
5 g50 c. Q.—F. New York and Chicago.
6
J. & J. N. Y.. 13 William St.
M. & N.
7
do
do
to be issued at $20,000 per mile upon present mileage (sufficient bonds
being reserved to return prior bonds when due) and upon the line
whicn the company proposes to build from Rock Island to a point on
the Illinois River opposite Havana, also on a line, if built, from Litch
field to Springfield; the Metropolitan Trust Co., of N. Y., is trustee.
In September, 1890, leased the North & South Hlinois (which see).
The Chicago Peoria & St. Louis 1st mortgage bonds were described in
Chronicle , V. 48, p. 223. The first consolidated mortgage (trustee, Cen
tral Trust Co.) is limited to $15.000 per mile on present mileage, and on
any extension from Litchfield to Springfield, if built; of the authorized
issue, $1,500,000 is reserved to retire first mortgage at maturity.
The Jacksonville Louisville & St. Louis is successor to the Jacksonville
Southeastern, which was sold in foreclosure May 11,1890. Its bonds
are guaranteed principal and interest by this company, which owns
$1,000,000 of the Jacksonville road’s $1,500,000 stock. Stock of Chi
cago Peoria & St. Louis RR., $2,500,000.
From July 1, 1890, to March 31, 1891, (9 months), gross earnings
$394,182, against $306,699 in 1889-90; net, $134,314, against $121,181.
In 1889-90 gross earnings were $398,819; net, $159,237,"against $129,661 in 1888-89. W. S. Hook, President, Jacksonville, 1 1
1.
Chicago R o c k Is la n d & P acific.—(See M a p ) —L ine of R oad .—
Owns from Chicago to Council Bluffs, 499 miles; Davenport, la., to
Atchison, Kan., 342 miles; 16 branches to Knoxville, St. Joseph, etc..
398 miles; total, 1,239 miles.
Also owns road formerly belonging to the Chicago Kansas & Nebraska
Ry. Co.—Elmwood, Kan., to Liberal, Kan., 440 miles; Herington, Kan.,
to El Reno, I. T., 232 miles; Horton, Kan., to Roswell, Col., 569 miles;
McFarland, Kan., to Belleville, Kan., 104 miles; branches to Salina,.
etc., 126 miles; (total Chicago Kansas & Nebraska, 1,486 miles); grand
total owned, 2,725 miles; total leased, 353 miles.
Leases; Peoria & Bureau Valley Railroad, Bureau Junction to Peoria,
47 miles; Keokuk & Des Moines Railroad, Keokuk to Des Moines, 162;
Des Moines & Fort Dodge Railroad, Des Moines to Fort Dodge and
Ruthven, 144 miles.
Leases trackage: Cameron to Kansas' City, Mo. (over Hannibal & St.
Joseph Railroad); Kansas City to North Topeka, and Limon, Col., to
Denver (over Union Pacific Railroad); Denver to Pueblo (over Denver
& Rio Grande), total 330 miles; grand total April 1,1891, 3,408 miles.
Organization .—The Chicago & Rock Island Railroad was chartered
in Illinois February 7,1851, and opened from Chicago to the Mississippi
River, July, 1854. The present Chicago Rock Island & Pacific was a
consolidation June 4,1880, with $50,000,000 stock authorized, and a
stock dividend of 100 per cent to the holders of Chicago Rock Island
& Pacific stock. The annual election occurs in June. The Chicago
Kansas & Nebraska theretofore leased was purchased at foreclosure sale
in April, 1891, and is now owned in fee simple. See V. 53, p. 223.
Stock and B onds.—Dividends since 1876:—In 1877 and 1878, 8 per
cent; in 1879,10; in 1880, 8 ^ cash and 100 per cent in stock; from
1881 to 1887, inclusive, 7; in 1888, 6 *2 ; in 1889, 4; in 1890,4; in 1891,
February, 1; May, 1; August, ^ of 1; November, ^ of 1 per cent.
Price of stock: In 1881, 129@1485s; in 1882, 122® 1401 ; in 1883,
4
1161 ® 127:4 ; in 1884,1001 , 126 %; in 1885,105®132; in 1886,1201
2
l
4®
«
@131; in 1887,109®140?8; in 1888, 94'V®114i2; in 1889,89*2® 1043«;
in 1890, 61*2®98s8; in 1891. to Sept. 18 inclusive, 633s® 871 .
2
The extension and collateral trust 5 per cent bonds of 1884 (trustee
of mortgage United States Tfust Company) are issued at the rate of
$15,000 per mile for single track, $5,000 per mile additional for equip
ment and $7,500 for second track. They are secured by the
direct lien of a first mortgage or by deposit with the trustee of an equal
amount of first mortgage 6 per cent bonds of branch lines. After July
1.1894, they are redeemable at 105 in the order of their numbers, be
ginning with the lowest. (See abstract of the extension and collateral
trust mortgage, etc., in Chronicle, V. 47, p. 260, 261, 262.)
In April, 1891, the Chicago Kansas & Nebraska mortgage for $26,000,000, the bonds secured by which were deposited as part security
for the extension and collateral 5s, was foreclosed in the interest of the
collateral trust bondholders. The extension and collateral trust 5s are'
now a direct lien on the Chicago Kansas & Nebraska mileage, instead
of a collateral mortgage as formerly. See V. 52, p. 427, 680, 795; V.
53, p. 223.
The certificates of indebtedness were issued on account of $1,470,000 Chicago Kansas & Nebraska Railway six per cent bonds due this
company for advances made to construct road between Pond Creek
and Minco, I. T., 982l0 miles, under agreement dated May 15,1886.
From April 1,1891, to August 31, 1891 (5 months), gross earnings
(estimated) on 3,408 miles were $6,872,676, against $6,684,628 on 3,339
miles in 1890.
The fiscal year ends March 31. Annual report for 1890-91 in full was
in V. 52, p. 875, 898, 900. Earnings, &c., have been as follows:
1888-89.
1889-90.
1890-91.
Miles owned and operated.
3,257
3,339
3,408
Earnings—
$4,358,502
$4,613,822
$4,762,894
Passenger..................
Freight.......................... 10,918,370
11,828,794
11,513,845
Mail, express, rentals, etc..
1,296,575
1,196,445
1,196,895
* Includes Fremont Elkliorn & Missouri Valley consols and Wyoming
Central Railroad firsts owned and pledged as collateral for extension
fours of 1886, $11,015,000.
t Includes Chicago St. Paul Minneapolis & Omaha stock, $10,000,000 ;
Fremont Elkhom & Missouri Valley stock, $1,966,500. Also owns Chi
cago & Northwestern common stock, $10,007,520, and preferred stock,
$2,284—included on other side of the account.
| Including $10,007,520 common, and $2,284 pref’d in co.’s treasury.
UIncluding live bonds in sinking funds and owned by company, which
amounted May 31,1891, to $1,739,500.
—(V. 50, p. 154,174, 800; V. 51, p. 141,157; V. 52, p. 219, 761, 832,
862; V. 53, p. 156, 199, 222.)
.C h ic a g o & O h i o R i v e r . —Line of road from Sidells, 1 1 to Olney,
1 .,
86 miles. Successor of the Danville Olney < Ohio River, foreclosed in
fe
February, 1886. Three, years’ coupons of the first mortgage bonds
fiirulecl. Stock authorized, $1,500,000; outstanding June 30,
1889, SM38,800; par, $100. In 1888-89, gross $77,016; net, $13,290; interest, $13,980; deficit, $690, against $15,285 in 1887-8. Austin Corbh>,
Vice-President.
.Chicago P e o r i a & St. L o u i s . —Owns from Pekin, 1 1 to Jackson1 .,
vllle, 1 1 and Havana to Springfield, 120 miles, and Litchfield to East
1 .,
St. Louis. 50 miles; uses the Merchants’ Bridge into St. Louis, and leases
Springfield to Litchfield, old St. Louis & Chicago RR., etc., 50 miles.
Operated in close connection with the Litchfield Carrollton & Western.
Barnett to Columbiana, 52 miles; the Louisville & St. Louis. Centralla
to Drivers, 17 miles; and the Jacksonville Louisville & St. Louis, 112
miles; Jacksonville to Centralia, 1 1 112 miles; total system 401
1 .,
miles. The extension to East St. Louis, 50 miles, was completed in
August, 1890, and in November, 1890, under a traffic agreement with
Gross earnings... $16,573,447
$17,639,061
th e Atchison Topeka & Santa Fe, a through line was opened between Operating expenses.. 12,086,000
12,475,067
Chicago and St. Louis. (V. 51, p. 608.) An extension to Rock Islands
is to be built.
Net earnings.......'•
»...... $4,487,447
$5,163,994
In June, 1891, a new consolidated mortgage was filed, securing bonds P. o. of oper. exp. to earns..
72-92
.
70-72
Feb. 1, 1907
Mch. 1, 1909
Mch. 1, 1910
Oct. 1, 1929
May 1, 1933
Nov. 1, 1909
Apr. 15,1921
Aug. 15,1926
1892-1908
Nov. 1, 1907
Dec. 1, 1916
July 1, 1897
Sept. 1, 1908
Sept. 1, 1907
Nov. 1, 1907
Oct. 1, 1933
Mar. 1, 1896
Oct. 1, 1891
Jan. 1, 1898
Jan. 1, 1898
Jan. 1, 1923
May 1, 1916
May 1, 1916
Mar. 1, 1928
May 1, 1939
June 1, 1941
Jan. 1, 1940
Nov. 2, 1891
July 1, 1917
Nov. 1, 1899
$17,473,634
12,413,794
$5,059,840
71-04
IN V E S T O R S ’
SUPPLEM ENT.
Chicago, B ock
P acific
island
r a il w a y
System
A N D I T S C O N N E C T IO N S .
[V o l . l i i l
M AP OF THE
R A IL R O A D
S e p t e m b e b , 1891. J
STOCKS
AUD
39
BONDS.
S u b s c r ib e r s w i l l c o n fe r a g r e a t fa v o r b y g iv in g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d i n th e s e T a b le s .
B o n d s —Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
of
of
Par
For explanation of column headings, &c., see notes
Road. Bonds Value. Outstanding Cent. Payable
Dividend.
Whom.
on first page of tables.
Chicago R o c k Island <£ Pacific— ( Concluded, y
1st M. ext. and col. ($20,000 p. m.) red. aft. 94.c&r 1,794
Certificates of indebtedness...............
—
Chic. St. P. <& K a n . City— Stock..........................
815
Priority loan, red. at 105......... .
-----........
515
Minn. & Northwestern 1st M., g., $16,000 p. m.c
Ch. St. P. & K. C. 1st M. g. (red. Jan., 1896).o*&r 815
General mortgage.................. - - - — ------ - - - • 815
Income b’ds (conv. into 5 per cent pref. stock).
Chicago St. P a u l Minneapolis <£ O m a h a — C o m . stock
Preferred stock......... .................. . - - — - -.....
21
St. Paul Stillwater & Taylors’ Palls 1st mort. ...<
12
Hudson <eRiver Falls 1st mortgage......... ....... o
f
177
Chicago St. Paul & Minn. 1st mortgage, gold...o*
St. P. &Si’xC. 1st M.,g.($7,000,000)$10,000p.m.C 607
80
North Wisconsin 1st mortgage....................... c
Consol, mort., for $30,000,000 ($15,000 per m.).e 1,347
37
Sault Ste. Marie & Southwestern 1st M., guar. ..c
48
Chic. <& West. Ind i a n a — 1st M., g., s.f., dr’n at 105. c
48
General mort., gold, sinking fund, red. at 105. .c
Chicago & West Mich. —(Stock author. ($6,800,000)
489
General mortgage ($12,000 p. m.)..............
Chic. & No. Mich. 1stM.,guar.,$18,000permile.o
47
C h i p p e w a Valley—IstM., g., $&£• for $1,800,000.c
65
C h o c l a w Coal <6 R'y— 1st M.,gold,$20,000 per mile
65
Receiver’s certificates...................-............ - -
INCO M E ACCOUNT.
Net^amfngs...........................
From land department................................
Premium on bonds, etc................................
Chicago Kansas & Nebraska interest............
Total income...........
Disbursements—
Rent leased roads.......................................
Interest on debt.................
Missouri River bridges................................
Dividends (4 per cent).................................
1884 l,000<fec $33,519,000
5
J. & J. N. Y., 13 William St.
1891
do
do
1.050.000
(1)
100 14,892,900
1889
1,882,100
& J. N.Y.,Lon. & Amsterdam
T5 g.
g1884
1,000
& J.
See remarks,
9.628.000
1886
1,000
do
9.193.000
& J.
5 g.
1889 1000<fec. 4.829.000
& J. No inter’stdue till 1893.
i «■
1888 100 «fe . 4,981,700
e
< J.
&
None paid.
5
100 18,559,427
100 11,259,913
2’
J. & J. N. Y., Office, 52 Wall St.
1878 500 «fe .
o
do
do
7
334,800
J. & J.
1,000
125.000
1878
do
do
8
J. & J.
1878
500
M. & N.
3,000,000
do
do
6 g.
1879
1,000
A. & O.
do
do
6.070.000
I 6' J. & J.
800.000
1880
1,000
do
do
1880
1,000 13,413,000
6
J. & D.
do
do
1890
400.000
1,000
5
M. & N.
do
do
2.003.000
1879
1,000
6 g- M. & N. N. Y., Drexel, M. & Co.
6,779,666
1882
1,000
6 g. Q.—M.
do
do
100
6,638,200 See rem. P. & A. Boston Of., 50 State St.
J. & D. Bost’n, Nat. Webster Bk.
5
5.410.000
1881
1,000
M. & N.
5
Boston.
1891
1,000 Seeremarks.
700.000
1,000
5 g. J. & J. New York and London.
1888
1890
1,000 hypotheo’t’d
6 g. J. & J.
500.000
1891
1889-90.
1890-91.
5,161,994
91,350
35,950
1,209,640
5,o!?9,840
98,650
......
1,216,662
6,500,934 6,375,152
. . . ___ . „ _
1,784,024 1,872,113
2,625,550 2,714,950
195,580
188,538
1,846,228 1,846,232
Total disbursements..............................
6,451,382 6,621,833
49,552
246,681
Balance, surplus........ ............................. . *
—(V. 51, p. 829, 875; V. 52, p. 41, 121, 238, 280, 427, 680, 795, 862,
875, 898, 899, 900; V. 53, p. 157, 223.)
C hicago St. L o u is Sc P itt s b u rg .—See P ittsburg Cincinnati
July 1, 1934
Jan.
July
July
Jan.
July
1,
1,
1,
1,
1,
1934
1934
1936
1989
1936
July 20, 1891
Jan. 1, 1908
July 1, 1908
May 1, 1918
Apr. 1, 1919
Jan. 1, 1930
June 1, 1930
Nov. 1, 1912
Nov. 1, 1919
Deo. 1, 1932
Aug. 16, 1891
Dec. 1, 1921
May 1, 1931
Jan. 1, 1929
Jan. 1, 1920
Deo. 31, 1891
There are also $75,000 MinneapoUs East. Railroad first mortgage
guaranteed 7s (J. & J.) due January 1,1909. Stock authorized is: Com
mon, $21,403,293; preferred, $12,646,833; outstanding, common, $18,559,427; preferred, $11,259,913; par $100.
In November, 1882, a controlling interest in the stock was purchased
for the Chicago & Northwestern Railway by the acquisition of 93,200
shares of common at an average price of 48-40, and 53,800 shares of
preferred at an average of 104‘04—the total cost being $10,315,659,
which stock is held as an asset of the Chicago & Northwestern Co.
Preferred stock has a prior right to non-cumulative dividend of 7 per
cent from net earnings; but common is never to receive more than is
paid on preferred.
Dividends on preferred stock: From 1881 to 1884, inclusive, 7 per
cent; in 1885, 4%; from 1886 to 1888, inclusive, 6 per cent; in 1889,3;
in 1890, 4; in 1891, Jan., 2; July, 2.
Report for 1890 was in Chronicle, V. 52, p. 461. The land sales in
1890 were 31,293 acres, for $87,202, including lots; land contracts and
notes on hand December 31, 1890, $984,755; lands undisposed of,
588,493 acres. Earnings, etc., have been as follows:
IN CO M E ACCOUNT.
1888.
1889.
1890.
$6,417,857 $6,848,320
C hicago St. P a u l Sc K a n s a s City.—Main lines (all steel) Gross earnings.......................$6,411,137
Net earnings.,.......................$1,762,979
$1,933,446
$2,059,751
Chicago to St. Paul and St. Joseph, 690 miles; Hayfield to Manley
506,062
561,426
450,715
Junction, 47 miles; branohes—Summer to Hampton, 64 miles; to coal Net from land grants. ............
mines, &c., in Iowa, lO1 miles; other, 4 miles; total owned, SIS^
^
Total income.................... $2,269,041
$2,494,872 $2,510,466
miles. Leases—St. Paul to Minneapolis, 10*2 miles; Chicago terminals,
Deduct —
10 miles; Dubuque to Aitken, 16 miles; Des Moines terminals, 1*2
Rentals, etc., paid.................
$91,275
$90,644
$92,731
miles; total leased, 40 miles. Total, 854 miles.
1,323,614
1,280,228
Organized May, 1886. Amalgamated December, 1887, with Minne Interest on debt, less credits... 1,309,733
Dividends on pf. stock (4 p. c.). 450,272
450,272
450,272
sota «feNorthwestern, which was chartered in 1854.
The Minnesota & Northwestern and Chicago St. Paul & Kansas City
$630,342
$687,235
l^t mortgage coupons for 1891-92 are guaranteed to be punctually pur Balance surplus..................... $417,761
chased, and will be funded into “ five per cent sterling priority loan ” —(V. 48, p. 372, 459; V. 50, p. 370, 449; V. 52, p. 293, 461, 534, 832.)
redeemable in 1934, or on six months’ notice at 105, the security for
C h i c a g o Sc W e s t e r n I n d i a n a . —Owns from Dolton and Ham
which is the purchased coupons deposited in trust. The priority loan
1 .,
bonds are limited to $2,823,150, of which $1,882,100 were issued by mond, 1 1 to Chicago, with a belt railroad and branches, with ware
July 1,1891, and the remainder will be issued in equal amounts half- houses, elevator, «fee., four main tracks, aggregating 98 miles, and with
yearly as the first mortgage coupons accrue in 1892. For details of sidings,156 miles of track in all, including 2d, 3d, 4th and siding track
(of which 51 miles are leased to Belt Railway of Chicago) and about
funding plan see Chronicle, V. 49, p.372, 614.
The Minnesota <e Northwestern mortgage is limited to $20,000 per 400 acres of real estate. Leases road and terminal facilities to the
f
f
mile; the bonds outstanding cover the road between Chicago & St. Wabash, the Chicago & Grand Trunk, the Chicago <e Eastern Illinois,
Paul (400 miles) and other road; total 511 miles, with bridge at St. the Chicago & Erie and the Louisville New Albany & Chicago, each of
Paul, and extensive terminals in St. Paul, Minneapolis and Dubuque. which five companies owns $1,000,000 stock, and also to the Atchison
fe
Chicago St. Paul <eKansas City 1st mortgage bonds are a 1st mortgage Topeka < Santa F e; the annual rentals stipulated exceed the interest
f
upon 290 miles between Des Moines and St. Joseph and upon terminals charge considerably.
Capital stock, $5,000,000, all owned as above stated. Dividends—In
in S Joseph and Kansas City, and on other road 15 miles; and further
-t.
have a lien upon the mileage covered by the Minnesota & N. W. bonds. 1890 4 per cent in cash and 20 per cent in stock of Belt Railway Co.
The general mortgage (trustees, Metropolitan Trust Company of New The capital stock of the Belt Company is $1,200,000, all held by the
f
York and R. H. Benson of London) is for $10,000,000, plus such addi stockholders of the Chicago <eWestern Indiana. The bonds are liable
tional amounts as may be needed to replace the bonds now or hereafter to be redeemed at any time at 105 bv a sinking fund, which is provided
Issued under the mortgage of 1886 and the Minnesota & North for by increased rentals to be paid for that purpose. Sinking fund
western mortgage. They bear no interest till after July 1, 1892. payments (in 1890 about $100,000) apply only to 1st mortgage bonds
Common ssook authorized, $25,000,000; outstanding, $14,892,900 till these are all redeemed. In 1891, $1,000,000 new bonds were auth.
(par $100). Leases equipment costing $1,500,000 from the Railway orized for improvements, &o. Report for 1890 was in V. 52, p. 898.
—(V. 51, p. 239, 569; V. 52, p. 204, 278, 862, 898; V. 53, p. 256.)
Equipment Company of Minnesota, which see under Miscellaneous.
From July 1,1891, to Aug. 31, 1891 (2 months), gross earnings on
C h i c a g o Sc W e s t M i c h i g a n . —Owns from Lacrosse, Ind., to
863 miles were $793,649, against $725,864 on 845 miles in 1889-90.
to Pentwater,
Fiscal year ends June 30. In year 1890-91 approximate gross earns, Traverse City, 301 miles; Alleganother branohes, 98 miles; Big Rapids
total oper
were $4,498,494. Report for 1889-90 was in Chronicle V. 51, p. 343. Junction to Big Rapids, 52 miles; from Baldwin to 38 miles; City, Mich.,
ated, 489 miles. Extension north
Traverse
E A R N IN G S, E X P E N S E S AND C H A R G E S.
74 miles, was completed in July, 1890. In 1887 leased to Chicago &
1889-90. Indiana Coal Railroad about 18 miles.
1888-89.
1887-88.
845
750
Average mileage owned and oper’d
608
Organized as successors of Chicago & Michigan Lake Shore January 1,
$
1879, and consolidated in September, 1881, with the Grand Haven
4,225,665 Road and the Grand Rapids Newaygo & Lake Shore. There are also
Total gross earnings................... 2,251,515 2,777,985
Oper’gexpenses, taxes, insur., «fee. 1,817,135 2,140,080 3,265,885 outstanding $24,000 Gr. Rapids Newaygo & L. Shore second division 7s,
due June 1, 1905. In addition to stock given above as outstanding,
959,780 $158,600 is held in trust for exchange under consolidation agreement.
637,905
Net income.................. .......
434,380
Deduct —
The Chicago & North Miohigan is to be built in the interest of this
*54,590 company from Traverse City to Bay View, 93 miles, and in March,
Interest.................. .................
871,879
595,725
296,235 1891, Chicago < West Michigan stockholders had the right of subscrib
Rentals................................. .
236,825
163,826
fe
ing to $1,675,000 of its first mortgage bonds, guaranteed principal and
350,825 interest by this company, and to $830,000 of its stock, guaranteed
Total................................ ..
759,551 1,108,704
Balance....................... ............ def.325,171 def.470,799 sur.608,955 same dividends as Chicago & West Michigan stock. See V. 52, p. 427.
Dividends since 1880—In 1881 and 1882, 21 per cent; in 1883, 3 ; in
2
[* This interest is on the three-year notes, 5 per cent priority loan and 1884. 4; in 1885, I
1886,
collateral notes. The four next maturing coupons on both classes of in 1890, February, V , in cent; 3; in 1887, 2 V in 1888, 2; in 1889, 2;
1 per
August, 2 per cent; in 1891, February,
first mortgage bonds are to be funded as they become due into the five
per cent sterling priority loan, and the general mortgage bonds bear no 2 per cent; August, 1*2 per cent.
From January 1 to July 31, 1891 (7 months), gross earnings on 489
interest until after July 1,1892; then at the rate of 4 per cent per
annum.] A. B. Stickney, Chairman of the Board. J. M. Egan, Presi miles were $960,076, against $885,672 on 408 miles in 1890; net,
$294,594, against $318,116; charges, $165,305, against $131,177;
dent and General Manager, St. Paul, Minn. W. L. Boyle, Vice-Presi
in 1890.
dent, 47 WaU Street, N. Y. (V. 50, p. 352, 560, 652; V. 51, p. 343, 608.) surplus, $129,28§, against surplus of $186,938 p. 533. In 1890 gross
Report for 1890 was in Chronicle, V. 52,
C h i c a g o S t, P a u l M i n n e a p o l i s Sc O m a h a .—(See M a p Chicago earnings were $1,606,419; net, $563,795; surplus over charges, $324,<& Northwestern .)—Main line—Elroy, Wis., to Omaha, Neb., 593 miles; 729 (against $125,466 in 1889); dividends (4 per cent), $265,528;
other lines, 801 miles; total, 1,438 miles, of which 1,347 miles are balance, $59,201. (V. 50, p. 205,482, 661, 662; V. 51, p. 171, 278;
owned, 86 miles leased and 5 miles proprietary road.
V. 52, p. 533; V. 53, p. 156,187.)
This was a consolidation July, 1880, of the Chicago St. Paul & Minne
C h o c t a w C o a l Sc H a l l w a y . —In operation from Wister, Indian
apolis (formerly West Wisconsin), the North Wisconsin and the St. Paul
& Sioux: City. The Sault Ste. Marie & S. W., 37 mUes, was purchased in Territory, on St. Louis & San Francisco Railway, to South McAlester,
Indian Territory, on Missouri Kansas «fe Texas, 65 miles. Projected
March, 1891, and its bonds guaranteed.
C hicago < St . L ouis .
fe
IN Y E S T O E S ’
SUPPLEM ENT.
[V ol.
l iii
R A IL R O A D
S e p t e m b e r , 1891.]
STOCKS
AND
BONDS.
41
S u b s c r ib e r s w i l l c o n fe r a g r e a t fa v o r b y g iv in g I m m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d In tb e s e T a b le s .
B o n d s —Prinoi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
of
Par
For explanation of column headings, &c., see notes of
Where Payable, and by Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.
Din. D ay. <6Ironton —1st M. for $3,500,000, g., gu.c*
D i n c m n a t i Ham i l t o n <£ D a y t o n —Stock.................
Preferred stock, Series A .................................
do
Series B .................................
Consolidated mort. ($996,000 are 7s) $ & *, s.f .c*
2d mortgage, gold........ ......................... .....c*
Cin. Ham. & I. (Junction) RR., 1st mort., guar...
Cinn. Jack. & M a c k . —1st,consol.,g.($10,OO0p.m.)c*
Cincinnati Van Wert & Mich. 1st mortgage..... 0*
2d mortgage, income, non-cumulat., red. at 100.
Cincinnati L e b a n o n <6 Nor. —IstM. (for $200,000) .c
Cincinnati c M u s k i n q u m Valley—1st mortgage.. .c
6
Cincinnati N e w Orleans & Texas Pacific—Stock.....
Cin. R i c h m o n d <6 Ft. W.~ 1st mort., gold, int. gu.c*
Cin. S a g i n a w <6 M a c k i n a w —IstM. for$2,000,000g.
Cin. S. <& Clev. a n d Cin.d-Spr.— See Cl. C. Ch. d-St.L.
Cleve. A k r o n <6 Col.— Q e n. M., g. (for$1,800,000)..0
Equip. Tr. & 2dM.,g.,red.before maturity......... c*
Cleveland <£ Cant o n —1st mortgage......................
Equip. Tr. & Improve. 2d M. gold ($2,000,000). .c*
Waynesburgh & Canton 1st mortgage, giiar..... c
Cleveland C ant o n <6 South.—1st M. for $5,000,000.
145
___
1891 $1,000 $2,000,000
100
4,000,000
100
1,000,000
100
553,600
6Ó 1875
1,000
2,816,000
69 1887
1,000
2,000,000
99 1873
1,000
1,800,000
331 1886
1,000
2,095,000
1881 100 &c.
1,171,000
1881
363.000
38 1886
1,000
190.000
148 1870
1,000
1,500,000
336
100
3,000,000
86 1871
1,000
1,800,000
50 1890 $ or *
1,500,000
178
178
161
161
1887 500 &c.
1890
1,000
1887
1,000
1891
1,000
1888
1,000
1891
easterly to Little Rook, Ark., and westerly to Albuqueitjue, on Atlantic
•& Pacific, with branch to Denison, Tex. Holds valuable coal leases,
The mortgage is for $10,000,000, of which about $2,000,000 were
pledged for loans. Stock outstanding, $3,750,000—par, $50. Car trust
< per cents, $200,000.
5
On January 8,1891, Edwin D. Chadick and Francis I. Gowen were
appointed receivers, and $500,000 receivers’ certificates were issued,
«due December 31,1891. The receivers’ report in May showed total in
debtedness $2,756,000; road constructed 108 miles; road operated 65
miles; April gross earnings $56,947; net, $24,480; coal shipments 800
tons daily. In May gross earnings were $67,252; net $29,207.
C i n c i n n a t i D a y t o n & I r o n t o n . —(Sec m a p Cincinnati H a m i l
ton <& Dayton.) Operates from Dayton to Ironton, Ohio, 165 miles,
standard gauge, of which 145 miles are owned, the other 20 miles being
oDerated under traffic contracts, 8 miles between Bakers and
Byers belonging to the Baltimore & Ohio 8. W. and 12 miles between
Deans and Ironton to the Iron R. R. The Cincinnati Dayton &
Ironton succeeded to a portion of the railroad of the Dayton Fort
Wayne & Chicago, which was sold in foreclosure on January 20,1891
(see V. 52, p. 164). Leased in April, 1891, for 99 years (renewable
forever) to the Cincinnati Hamilton & Dayton, which guarantees the
bonds, principal and interest. Of the $3,500,000 bonds authorized,
$1,500,000 are reserved for improving, equipping and extending the
road. In addition to the guaranty of the bonds the lessor is to receive
one-half the net income remaining after the payment of operating
expenses, taxes and interest. See V. 52, p. 534, 680. Stock is $5,000,000. See V. 52, p. 164, 534, 680.
C i n c i n n a t i H a m i l t o n Sc D a y t o n . — (See Map.) —Owns from Cin
cinnati, O., to Dayton, O., 60 miles ; leases Dayton & Michigan, Dayton
to Toledo, 142 miles, and Cincinnati Dayton & Ironton, Dayton to
Ironton, 165 miles. Controls Cincinnati Hamilton & Indianapolis,
Hamilton to Indianapolis, 99 miles ; Cincinnati & Dayton, Hamilton
to Middletown, 14 miles; Cincinnati Dayton & Chicago, Dayton to
Delphos, 95 miles; Troy & Piqua, 8 miles; Columbus Findlay &
Northern, Desliler to Findlay, 18 miles; Bowling Green R. R.,
Toutogany to North Baltimore, 21 miles. Total 622 miles. Owns
jointly with Big Four the Dayton & Union—which see.
In April, 1891, the Cincinnati Dayton & Ironton R.R. (which see)
was leased for 99 years, its $3,500,000 of 5 per cent bonds being
guaranteed, principal and interest. In October, 1891, will lease the
’ incinnati Jackson & Mackinaw (which see) and guarantee its ne w
C
4 per cent bonds. See V. 53, p. 94.
Floating debt April, 1890, $774,213. Company owns $700,000
Cincinnati Hamilton & Indianapolis bonds not included in amount
outstanding above.
Dividends on common stock since 1882—In 1883, 9 per cent; in 1884,
6; in 1885, 6; in 1886, 7; in 1887, 6; in 1888 and 1889, nil; in 1890,
5 per cent ; in 1891, January, It* ; April, l x ; July, ltj..
4
Dividends on preferred stock from January 1,1883, to July, 1886, at
rate of 6 per cent ; from July, 1886, to date, at rate of 4 per cent yearly
Fiscal year ends March 31. Report for 1889-90 was in V. 51, p. 19j
INCOME ACCOUNT.
1886-87. 1887-88. 1888-89. 1889-90.
Receipts—
$
$
$
$
Gross earnings................ 3,066,967 3,447,574 3,478,975 3,565,178
Net earnings.................. 1,119,749 1,410,300 1,387,588 1,400,915
Disbursements —
Interest on bonds...........
507,443
576,959
551,131 528,630
G. H. & D. dividends....... 325,259
120,000
46,405 160,874
D. & M. dividends........... 132,024
171,401
171,401 175,339
Total disbursements... 964,726 868,360
768,937
864,843
Balance, surplus............. 155,023
541,940
618,651
536,072
— (Y. 51, p. 19, 493, 681 ; Y. 52, p. 534, p. 80, 939 ; V. 53, p. 125.)
C i n c i n n a t i I n d i a n a p o l i s S t. L o u i s & C h i c a g o . —See Cleve
land Cincinnati Chicago & St. Louis.
C i n c i n n a t i J a c k s o n & M a c k i n a w . —Owns from Carlisle, O.,
north to Addison, Mich., 190 miles; Allegan to Dundee, Mich., 133
miles; branches, 3 miles; leases trackage Dundee to Toledo, 23 miles;
total operated, 349 miles. Stock is—Common, $10,413,835; preferred,
^5,867,000.
In November, 1889, Mr. Walston H. Brown was appointed receiver.
The road will be sold in foreclosure Oct. 6.1891, and then leased for 99
years to the Cincinnati Hamilton & Dayton, which will guarantee by
•endorsement principal and interest of $4,800,000 fifty-year 4 per cent
gold bonds. Under the lease the C. H. & D. will retain $776,800 of the
gross earnings, and of any excess above this amount until such gross
■earnings reach $1,076,800, 20 per cent will go to the C. J. & M ,
and 15 per cent of any further excess. It is further agreed that $800,000 of the bonds shall be deposited with the Central Trust Company to
provide for betterments, equipment, &c. V. 53, p. 94. Plan of reor
ganization as modified was in Ch ronicle , V. 53, p. 125.
From January 1,1890, to August 31,1891 (8 months), gross earnings
were $479,950, against $432,698 in 1890.
For calendar year 1890 gross earnings were $680,301, against
$623,439 in 1889; net, $158,140, against $126,718. (V. 51, p. 20.; V.
52, p. 40, 350, 939; Y. 53, p. 94, 125. (
C i n c i n n a t i & M u s k i n g u m V a l l e y . —Owns from Morrow, Ohio,
1,730,000
600,000
2,000,000
1,000,000
200,000
<
*)
5 g.
1^4
1
1
5, 6, 7
4^g.
7
5 g6
6
5
7
2
7 g.
5 g.
5
6
5
5
5
5
M. & N. N. Y. ,Kessler&Co54Wall
Cincinnati.
Q.-J.
do
Q.-J.
Q.-M.
do
A. & O. N.Y.,Kessler<fcCo54Wal]
do
do
J. & J.
do
do
J. & J.
J. & D. Dec., 1889, last paid.
J. & J. Dec., 1889, last paid.
May 1, 1941
July 31,1891
Oct. 7, 1891
Sept. 1, 1891
Oct. 1, 1905
Jan. 1, 1937
Jan. 1, 1903
Dec. 1, 1936
Jan. 1, 1901
J. & J. Cinn., Fourth N at. Bank
J. & J. Jan.,’86, coup, last paid.
Cincinnati, Co.’s Office.
J. & D. N. Y. Winslow, L. & Co.
J. & J. New York and London.
Jan., 1916
Jan. 1, 1901
Apr. 20,1891
June 1, 1921
Jan. 1, 1920
S. N. Y., J. A. Horsey.
do
do
A.
J. N.Y.S.V. White; Bos.I.Tr
Boston.
O.
Boston.
D.
Mch. 1, 1927
Aug. 1, 1930
July 1, 1917
July 1, 1917
June 1, 1928
Jan., 1941
g. M. &
g- F. &
J. &
g. A. &
g. J. &
to Trinway, O., 148 miles. Sold under foreclosure December 3,
1869, and reorganized as at present January, 1870. Gross earnings
in 1890, $437,607; net, $61,811; deficit under interest, betterments,
&c., $74,376. In 1889, gross, $447,038; net, $40,794; deficit'under
fixed charges, $93,827. Amount due Pittsburg Cincinnati & St. Louis,
former lessee, Deoember 31, 1890. $1,081,013, and for coupons up to
January, 1891, $526,050. Capital stock, $3,997,320. Pennsylvania
Railroad owns $754,000 of the bonds.
C i n c i n n a t i N e w O r le a n s & T e x a s P a c i f i c . — ( See M a p .)—l*nis
company was organized under the laws of Ohio October 8,1881, and
operates under lease the Cincinnati Southern, extending from Cin
cinnati to Chattanooga, Tenn., 336 miles. In April, 1890, the East
Tennessee Virginia & Georgia obtained voting power on $1,000,000
stock, through purchase of a controlling interest in the Alabama Great
Southern, and company became a part of the East Tennessee system.
See Ch ronicle , Yol. 50, p. 560; V. 51, p. 569. The rental due the
City of Cincinnati is $912,000 till Oct. 12,1891; $1,012,000 till Oct.
12.1896; $1,102,000 till Oct. 12,1901, and $1,262,000 till 1906. As to
proposed extension and modification of the lease, see V. 52, p. 939.
Dividends since 1881: In 1882,1*2 per cent; in 1883, 3; in 1889, 3;
in 1890, February, 4 per cent; in October, 2; in 1891, April, 2.
From July 1,1891, to July 31,1891 (1 month), gross earnings were
$392,508, against $340,194 in 1890; net, $134,905, against $108,291.
Fiscal year now ends with June 30. Annual report for 1889-90 was
given at length in V. 51, p. 414, 422. Advance statement for 1890-91
was in Y. 53, p. 289.
1887-88.
1888-89.
1889-90.
1890-91.
$
$
$
3,655,859 4,309,144
4,379,143
Gross earnings......... 3,525,775
Net earnings............ 1,163,402
1,145,256
1,580,963
1,354,640
Deduct —
For rental........ .
912,000
912,000
912,000
912,000
Dividends..............
-.
90,000
180,000
60,000
Sinking fund, etc......
69,199
77,359
90,912
100,750
Net surplus......... 182,203
65,897
398,051
281,890
—(V. 51, p. 275, 414, 422, 569, 645; V. 52, p*. 321, 939; V. 53, p. 289.)
C i n c i n n a t i P o r t s m o u t h & V i r g i n i a . —Owns from Idlewild,
O., to Sciotoville, 107 miles; trackage (Cin. Lebanon & Northern),
to Cincinnati, 4 miles; total operated, 111 miles. The Ohio & North
western was sold in foreclosure March 13,1890, and reorganized as
the Cincinnati Portsmouth & Virginia with $1,566,000 common stock
to retire first mortgage bonds at par and interest and $594,000 pre
ferred stock for prior liens, receivers’ certificates, &e. In year ending
June 30,1891, gross earnings were $234,192; net over expenses and
taxes, $20,120.
From January 1 to August 31,1891 (8 months), gross earnings on 107
miles were $153,270, against $145,842 in 1890. (V. 53, p. 48.) Presi
dent, Samuel Hunt.—(V. 50, p. 276, 353, 392 ; V. 52, p. 899.
C i n c i n n a t i R i c h m o n d & F o r t W a y n e . —Owns from Rich
mond, Ind., to Adams, Ind., 86 miles ; leases 5 miles of Pittsburg Fort
Wayne & Chicago ; total operated, 91 miles. Leased for 99 years to
Grand Rapids & Indiana, the rental being net earnings. Interest is
guaranteed by the lessees and by the Pennsylvania Company and Chi
cago St. Louis & Pittsburg Company jointly. Gross earnings in 1890,
$471,296; net, $165,853 ; profit to guarantors, $3,854, against loss of
$8,983 in 1889. StocK, $1,709,313 ; par $50. Total advances by guar
antors to December 31,1890, $1,131,995.
C i n c i n n a t i S a g i n a w & M a c k i n a w , —Owns Durand to Oa-ta-ka
Beach, 56 miles. Successor in 1890 to the Toledo Saginaw & Mackinaw.
In September, 1890, leased for 99 years to the Grand Trunk of Canada.
Of the $2,000,000 bonds $500,000 were reserved for new terminals
extensions, &c. Bonds are either $1,000 or *205 10s. Interest is
unpaid pending purchase of bonds by Grand Trunk. (V. 51, p. 645.)
C i n c i n n a t i S a n d u s k y & C l e v e l a n d .—Owns from Sandusky, O.,
to Dayton, O., 154 miles; branch, Carey to Findlay, 16 miles; total,
170 miles. October 31,1890, leased till 1969 to the Cleveland Cincinnati
Chicago & St. Louis, which purchased the common stock, and agreed to
pay interest on the bonds and dividends on preferred stock. See V. 51,
p. 457. The preferred stock has a lien by deposit of old bonds in trust.
Cash dividends since 1876; On preferred, 6 per cent yearly to date;
on common, in 1882, 2; in 1884, 2; in 1888, 5; in 1889, 312; in 1890, 5^.
In year ending June 30,1889, gross earnings were $814,879; net,
$290,734; rental received, $94,606; total net, $385,340. (V. 50, p. 632,
801- V. 51, p. 142, 416, 457, 608; Y. 52, p_80, 428.)
C i n c i n n a t i & S p r i n g f i e l d .—Operates from Cincinnati, O., to
Springfield, O., 80 miles, of which 32 miles are leased from other com
panies. The whole is leased and operated by Cleveland Cincinnati Chi
cago & St. Louis Company, giving them a line into Cincinnati and depot
accommodation. Lessees apply any excess over operating expenses
and interest to Cincinnati & Springfield stock. Interest is guaranteed
on the first mortgage, one-half by the lessees and onerhalf by Lake
Shore & Michigan Southern. Stock is $1,100,000 (par $50), voting
power on $616,450 being held by trustee for Cleveland Cincinnati Chicago
& St. Louis. To January, 1890, the Cleveland Cincinnati Chicago & St.
Louis had advanced $2,951,814. In year ending June 30,1890, gross
earnings, $1,196,410; net, $332,618; deficit under interest, &c., $45,137
49
1N YESTO K S’
SUPPLEM ENT.
[V O L . L I1 I,
September, 1891.]
R A IL R O A D
STOCKS
AND
BONDS.
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g iv in g I m m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d i n th e s e T a b le s .
B o n d s — Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When DueDate Size, or
Amount Rate per When Where Payable , and by Stocks— Last
For explanation of column headings, &c., see notes of
of
Par
Dividend.
Whom.
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Cleveland Cincin. Chic. <£ St. Louis —Common stock
Preferred stock, 5 per cent, non-cumulative.......
Cin. & Indiana 1st mort. (Cin. to Ind. State line)e
2d mortgage............................................... c
Indianapolis Cincin. & Laf. mortgage.............. c
C. I. St. L. & C. con. M. .drawn a tl 65, s.f. 1 p. c.c*
<r
General IstM.. g.,s.f. 1 p.c., not dr’n.......... c fc
Bel. & Ind. 1st mortgage (part due yearlv).........
Clev. Col. Cin. & Ind. 1st M., sinking fund.........
Con. mort. (s. f. 1 p. c.), dr’n at 10Ò if unst’mp’d
Gen. con. mortgage, g.(for $12,000,000)...c* &r
Indian & St. L. 1st mòrt., in 3 ser. of $667,000.c.
Mort. for $2,000,000, gold, Indianap.toTérre H.
Cl.Cin.Chic.& St.L. 1st M. (Càiro Vin. & Chic.) g.c*
White Water branch, 1st M., gold................c*
Spring. & Col. Div. (Col. Sp. £ Cin.), 1st M., g.c*
St. Louis Div. (St.L.Àlt. & T. H.) coll.tr.,g.,c*&r
Cin. Wab.&Mich. Div., IstM. for $4,000,000 g.c*
Obligations for P roprietary L ines.
Cincinnati Lafayette & Chicago,1st mort., gold.c
Cincinnati Sandusky & Cleveland—Pref. stòck...
S. Day. &C.(Mad.R.&L.E.) lstM.,s.f.,dr.atlOO.o
Consolidated 1st mortgage ($3,000,000) gold, .c
Cincinnati & Springfield—1st mort., int. guar....c
2d mortgage.............................................. c
Clevel. Lor. < Wheel.—Cl. Tusc. Val. & W., 1st mort
É
Cleveland < M a h o n i n g Yal.—1st mort., extend. ..c*
&
3d mortgage (now 2d)................................... c*
Consol, mort. for $3,000,000 (reg. int. Q.—J.).c&r
21
21
154
175
400
119
391
391
391
72
72
267
69
45
194
203
56
170
170
48
48
158
125
125
125
$100 $27,287,600
1*2
100 10,000,000
1*4
294,000
7
1862
1,000
689,000
7
1,000
1867
379,000
1,000
7
1867
753,000
6
1880
1,000
4 g.
1886 l.OOO&o 6,823,000
1864
1,000
173,000
7
1869
1,000
3,000,000
7
1874
1,000
4,068,000 7 or 6 g.
1884
1,000
3,205,000
6 g.
1869
1,000
2,000,000
7
1882
1,000
500,000
6 g.
1890
1,000
5,000,000
4 g.
1890
1,000
650,000
4 g.
1890 50Ó &c.
1,098,000
4 g.
1890 l.OOO&c 10,000,000
4 g.
4 g1891
1,000
4,000,000
1871
1,000
50
1,000
1,000
1866
1888
1,000
1871
1872
1,000
1,000
1878
1873 50Ó &c.
1876 500 &c.
1888 1.000&C
C i n c i n n a t i W a b a s h & M i c h i g a n R a i l w a y . —Owns from
Benton Harbor, Mich., to Rushville, Ind., 205 miles, and operates Y. G.
& K. RR. Rushville to North Vernon, Ind., 45 miles. Sold Nov. 5,1879,
and reorganized April, 1880. In 1890 company’s entire stock was
bought by the Cleveland Cincinnati Chicago & St. Louis, which has
issued $4,000,000 of 4 per cent bonds secured by a mortgage upon the
property. From Jan. 1 to June 30,1891 (6 months), gross earnings
were $312,319, against $278,701 miles in 1890; net, $117,541, against
$90,961. Gross earnings in 1890 on 165 miles, $603,170 ; net, $202,514.—(V. 50, p. 482; V. 52, p. 164, 570,718.)
C l e v e l a n d A k r o n & C o l u m b u s R a i l w a y . —Owns from Hud
son, O., to Columbus, O., 144 miles, Dresden branch, Kilbuck to Trim
way, 33 miles ; trackage, Cincinnati & Muskingum Valley Ry.,
Trimway to Zanesville, 17 miles; total. 194 miles. Sold in foreclo
sure in 1882, and reorganized under this title in January, 1886. The
new equipment trust bonds (authorized to a total of $890,000, or
$5,000 per mile) are a second mortgage. They are redeemable at 100
and interest on August 1,1900, and at 105 and interest on any August
1 thereafter prior to 1930. See full statement to N. Y. Stock Exchange
dated Feb. 9,1891, m V. 52, p. 464. Stock, $4,000,000 ; par, $100.
Dividends: 1886 and 1887, each l 1 per cent; for 1888 and 1889,
^
each 1 per cent.
From July 1,1891, to July 31,1891 (1 month), gross earnings were
$84,391 against $71,710 in 1890; net, $20,642, against $17,276.
In year ending June 30, 1891, gross earnings (including Dresden
branch) were $902,536; net, $239,381; interest, $110,635; rentals,
taxes, &c., $70,084 ; surplus, $58,661. In 1889-90 gross $797,889 ; net,
$213,343 ; surplus over interest, taxes, &e., $54,682.—(V. 51, p. 303,
679; V. 52, p. 351, 462, 464 ; V. 53, p. 324.)
C l e v e l a n d & C a n t o n .—(See M a p . ) —Owns Cleveland to Coshocton,
O., 115 miles; Canton to Sherrodsville, 43 miles; branch, 3 miles.
Leases Waynesburg & Canton RR., 6 miles ; Cleveland Chagrin Falls &
Northern RR., 8 miles. Operates under verbal agreement Coshocton &
Southern, Coshocton to Zanesville, 30 miles ; total, 205 miles. Made
standard gauge in November, 1888. The Connotton Valley RR.
was sold in foreclosure May 9, 1885, and this company
organized. Capital stock is $3,099,599 common and $7,893,758 preferred; par, $100. In 1891, were authorized $2,000,000 2d mortgage equipment bonds, of which $1,000,000
have been issued for the retirement of certain outstanding equipment
liens, for the purchase of new rolling stock, etc. They are a first lien
on new equipment and a second lien on the road. (See V. 52, p. 350,
939.) The Waynes. & Canton is leased for 40 years from June 1,1888,
and its bonds guaranteed, principal and interest. The Chagrin Falls
Road is leased for 33^ per cent of gross earnings.
From July 1,1891, to July 31, 1891 (1 month), gross earnings
werè $75,674, against $51,050 in 1890 ; net, $27,358, against $19,501. Annual charge for interest, taxes and rentals will hereafter
be about $200,000.
Gross earnings for year ending June 30, 1891, $648,678; net,
$233,651. In 1889-90 gross, $499,504; net, $172,196.—(V. 51, p. 644;
V. 52, p. 350, 939 ; V. 53, p. 256..)
C l e v e l a n d C i n c i n n a t i C h i c a g o & S t. L o u i s . —(See M a p . ) —
Owns:—Cleveland, O., to Columbus, O., 138 miles; Galion, O., to In
dianapolis, 203 miles ; Delaware to Springfield, 50 miles (these three
lines, 391 miles, compose old C. C. C. & I.); Cincinnati to Lafayette (part
of old Cincinnati Indianapolis St. Louis & Chicago), 175 miles, and
branch, 3 miles ; Indianapolis to Terre Haute (old Indianapolis & St.
Louis, 72 miles); East St. Louis to Terre Haute, Ind., and branch
(formerly belonging to St. Louis Alton & Terre Haute) 193 miles; Harri
son, Ind., to Hagerstown, Ind., 65 miles; total owned, 899 miles.
Leases—Cincinnati Lafayette & Chicago (the entire stock owned!
Templeton, Ind., to Kankakee, 1 1 75 miles; Fairland Franklin & Mar
1 .,
tinsville Railroad (entire stock owned—no debt), Fairland, Ind., to Mar
tinsville, 38 miles ; Columbus Hope & Greensburg Railroad (all bonds
and 61 per cent stock owned), Columbus to Greensburg, Ind., 24 miles;
other lines, entire stock owned—no debt, 12 miles ; Cincinnati & Springfield (leased for 99 years—55 per cent stock owned), Dayton, O., to
Cincinnati, 56 miles; Cairo Vincennes & Chicago, entire stock owned ;
Cairo to Tilton and brancL, 267 miles; Cincinnati Sandusky & Cleve
land, Sandusky, O., to Dayton, O., 154 miles, and branch, 16 miles; Co
lumbus Springfield & Cincmnati, Columbus, O.. to Springfield, 44 miles;
total mileage on which earnings were reported July 1,1891,1,587 miles.
. Also operates, keeping earnings separately, Cincinnati Wabash &
Michigan Railway (entire stock owned), Benton Harber, Mich., to
Rushville, Ind., 205 miles; Vernon Greensburg & Rushville Rail
road (all bonds and 70 per cent stock owned),North Vernon, Ind.,
to Rushville, 45 miles; Peoria & Eastern, Pekin, 1 1 to Indianapolis,
1 .,
Ind., 202 miles ; Springfield Division, Indianapolis to Springfield,
142 miles ; Kankakee & Seneca Railroad (one-half stock and bonds
owned), Kankakee to Seneca, 1 1 42 miles. Also owns jointly Dayton
1 .,
& Union RR. (operated separately!. 47 miles; trackage, Illinois Central
into Chicago, 56 miles ; other trackage, 12 miles ; total system, includ
ing trackage and one half of mileage half owned, 2,314 miles.
Organization , E tc.—The Cleveland Cincinnati Chicago & St. Louis
Railway Company is a consolidation of the Cincinnati Indianapolis St.
Louis & Chicago Railway Company, the Cleveland Columbus Cincin
nati & Indianapolis Railway Company and the Indianapolis & St. Louis
794,000
428,850
122,000
2,483,000
2,000,000
125,000
700,000
654,000
487,900
1,500,000
J. & J. Drexel, Morgan & Co.
do
J.
do
Q.—»
do
J. & D.
do
do
J. & J.
do
do
F. & A.
do
do
M. & N.
do
do
Q .-F.
do
do
J. & J.
do
do
M. & N.
do
do
J. & D.
do
do
J. & J.
do
do
Various
do
do
M. & N.
do
do
J. & J.
do
do
J. & J.
do
do
M. & S.
do
do
M. & N.
do
do
do
J. & J.
7 g. M.
M.
3
F.
6
5 g- J.
A.
7
J.
7
A.
7
F.
7
M.
7
5 g- J.
&
&
&
&
&
&
&
&
&
&
do
do
S.
N. New York and London.
A. Boston, N at. Revere Bk.
J. N. Y., Drexel, M. & Co.
do
do
O.
do
do
J.
O. N. Y., Union Trust Co.
A. N. Y.,Winslow?Lan. &Co.
do
do
S.
do
do
J.
July 10,
Oct. 1,
Dec. 1,
Jan. 1,
Feb. 1,
May 1,
Aug. 1,
1891 to
May 1,
June 1,
Jan. 1,
July 1,
Nov. 1,
Jan. 1,
July 1,
Sept. 1,
Nov. 1,
July 1,
1891
1891
1892
1892
1897
1920»
1930
1899
1899
1914
1934
1919
1912
1939
1940
1940
1990
1991
Sept. 1, 1901
May 1, 1891
Feb. 1, 1900
Jan. 1, 1928Apr. 1, 1901
Jan. 1, 1902
Oct. 1, 1899
Aug. 1, 1893
Sept. 15,1899
Jan. 1, 19381
Railway Company, made in July, 1889. It is one of the so-called
Vanderbilt roads. The St. Louis Alton & Terre Haute main line and
branch was purchased in 1890 for $10,000,000 of 4 per cent bonds.
The Cairo Vincennes & Chicago is operated under contract dated Octo
ber 30, 1889, and the Peoria & Eastern (part of old Ohio Indiana &
Western) is operated under a fifty-year lease. The Springfield Division
of the Ohio Indiana & Western is owned subject to a purchase money
lien of $5,000,000, which is not a promise to pay, and which (though,
redeemable at will) is not collectible before April, 1940
In May, 1891, it was voted to issue $4,000,000 of 4 per cent bondssecured by a mortgage made jointly with the Cincinnati Wabash &
Michigan; also to make an operating contract with that company. (SeeV. 52, p. 718.)
- .
In October, 1890, it was voted to lease the Columbus Springfield &
Cincinnati, and to issue $500,000 stock with which to acquire its
$1,000,000 stock; also to issue $1,250,000 of 4 per cent 50-year firSt
mortgage bonds secured on that road to take up the outstanding 7s and
the scrip; also to lease the Cincinnati Sandusky & Cleveland, and toissue $3,212,680 stock to take up the Sandusky’s $4,015,750 of common»
stock. See V. 51, p. 457, 608. There are $88,000 Col. Spring. & Cin. 7s
still outstanding, for which $112,500 new 4s were reserved.
S t o c k a n d B o n d s .— The consent of a majority interest of the preferred
stockholders is required before any new bonds can be issued or any
lease executed. According to Ohio statutes company should have priv
ilege of retiring preferred stock at par after June 27,1892.
Dividends on preferred stock lit per cent quarterly to date. Dividendson common, in 1890,4 per cent (1 per cent being extra in July), in.
1891, January, 1 ^ ; July, 1*2.
Price of common stock—In 1889 581
ato781 in 1890, 55®SO1 in
8;
*;
1891, to Sept. 18, inclusive, 56%®73%.
Price of preferred stock—In 1889, 96 to lOS^; in 1890, 86®101;.
in 1891, to Sept. 18 inclusive, 90®98.
The Cincinnati Indianapolis St. Louis & Chicago 4 per cent mortgager
for $10,000,000 (Central Trust Co. and Hervey Bates, trustees) will re
tire all prior bonds as they fall due. The sinking fund for these bonds
is 1 per cent yearly of the amount of outstanding bonds; payments
lapse when bonds cannot be purchased at 1021 and interest.
2
The sinking fund provision of the Cleveland Columbus Cincinnati &
Indianapolis consolidated bonds may be canceled at option of holders,,
and the bonds so stamped.
Of the Indianapolis & St. Louis first mortgage bonds series “ A ” are
J. & J.; series “ B,” M. & S.; series “ C,” M. & N.; and the $500,000 6
per cents are owned by the Pennsylvania RR. Co.
The bonds of 1889 on the Cairo Vincennes & Chicago are bonds of the
Cleveland Cincinnati Chicago & St. Louis Co., but are secured by a mort
gage made by the Cairo Vincennes & Chicago Company.
Of the $10,000,000 St. Louis Division bonds of 1890 issued to the St.
Louis Alton & Terre Haute in payment for its main line, bonds for
$7,000,000 are reserved to retire all existing liens on the road, and
$250,000 bonds are held in a sinking fund for the issue, bonds to be
purchased at or under 105 with the income therefrom—no bonds drawn».
For full abstract of deed of trust see V. 52, p. 42-45.
O p e r a t i o n s a n d E a r n i n g s .— From July 1, 1891, to July 31,189
(1 month), gross earnings (on 1,587 miles) were $1,160,745, against
$1,111,766 (on 1,632 miles) in 1890; net, $326,847, against $358,015?
interest, rentals, etc., $21f,814, against $235,688; surplus, $115,033,.
against $122,327.
*
On the Peoria & Eastern Division from July 1 to July 31,1891,
(1 month), gross earnings were $157,917, against $108,774 in 1890;
net, $42,184. against $26,541.
Fiscal year ends June 30. Report for 1889-90 was in V. 51, p. 535,
and preliminary statement for 1890-91 in V. 53, p. 288, showing re
sults as in the table below:
E A R N IN G S AND E X P E N S E S .
1889-90.
Miles operated................. ....................... 1,569
*E a r n i n g s f r o m —
$
Passengers............................................... 3,422,872
Freight..................................................... 8,318,865
Mail, express, &c................................
1,220,570
Total................................................. 12,962,307
Operating expenses and taxes................... 8,739,182
1890-91.
1,561
$
3,649,505
8,337,130
1,186,680
13,173,315
9,187,211
Net earnings...................................... 4,223,125
3,986,104
Interest on bonds......... ........
1,788,257
Rentals......:............................................
936,585
Interest and exchange...................
14,940
2,123,303
476,188
10,792
2,739,782
1,483,343
1,320,000
2,610,28a
1,375,821
(?)
Deducts—
Total..................
Surplus for dividends
Dividends..... : .........
* The earnings and operating expenses here given do not include
Peoria & Eastern or Cincinnati Wabash & Michigan.)
—(V. 51, p. 51, 171, 172, 206, 303, 383, 416, 457, 535, 608,753»
787;^V 52, p. 428, 498, 499, 534,718, 761; V. 53, p. 288.)
IN V E S T O R S ’
SUPPLEM ENT.
Fe p t e m b e r ,
1891.J
R A IL R O A D
STOCKS
AND
BONDS,
4 5
S u b s cr ib e r s w i l l c o n fe r a g r e a t fa v o r b y g iv in g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d In th e s e T a b le s .
RAILROADS.
B o n d s —Prlncl
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Du«.
Amount Rate per
For explanation of column headings, «fee., see notes of
of
Par
When
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable Where Payable, and by Stocks—Last
WlMm
>.
Dividend.
Cleveland t6 Marietta —1st i
Cleve, ( Pittsb.—Stock, 7 p. c. guar, by Penn. Co__
è
Constr’n and equip’t inc. bds.,Ser.“A ” ) s.f.,dr’n
do
do
do Ser.“B” 5 at 100
Colorado M i d l a n d — Bee At. Top. < Santa Fe system.
fe
C o l u m b i a & Greenville—1st mortgage, gold........c'
2d mortgage.......,....................................... c'
G o l u m b i a N e w b . <£L a u r e n s —1stM,g. ,for$12,000 p.m
C o l u m b u s <£ Ginn. Mid. —1st M.,ext. at ä^p.c.guar.
Debentures, guaranteed.......... ........ ..............
C o l u m b u s H o c k i n g Valley <£ Toledo —
Col. & H. V. 1st mortgage______ _____ ____ ____ c*
2d mortgage (Columbus to Athens and brs.. .)c*
Col. < Toledo 1st M. (Columbus to Walbridge).. o*
&
2d mortgage (Columbus to Walbridge)........
Ohio <cWest va. lstmort. (Logan to Pomeroy)..c
f
Consol, mortgage, gold (for $14,500,000)....... e
Gen. mort.,gold,on road <cHocking Coal«fc RR.Co.c
f
Oolum. Shaw. <£ H o c k .—Stock ($2,000,000 is pref.).
1st mortgage for $5,000,000, gold..................c*
Equipm’tM., g., sub. to call after ’96, ($1,000,000)
Zanesville Term’l Co. 1st m. for $500,000, gold.c*
C o l u m b u s Southern. —1st mtge., gold, $12,500 p.m.
C o l u m b u s <£ X e nia —Stock, 8% per cent rental.......
C o ncord <& Claremont (N. H.) —1st mortgage.......c
Concord <6 Montreal —Stock, Class I. (B. C. & M. pf.)
Stock, Classes II. and III. (B. C. & M. new and old)
Stock, Class IV. (Concord)......... ............ .........
97
1887 $1,000
50
500
$600,000
11,247,036
1,104,844
1,931,000
1,558,000
451,000
Ì99
199
1862
1867
1873
1873
164
164
63
71
1881
1881
1887
1884
1890
121
121
1867 500 «fe .
e
1872
1,000
1875
1,000
1880
1,000
1880
1,000
1881
1,000
1884
1,000
ÏÏÔ
1890
1891
1890
118
118
85
325
325
110
4
88
55
71
1,000
1,000
1,000
2 ,000,000
1,000,000
1,000
1,000
1,000
1,000
516,000
2,000,000
240,000
1,000
1,000
1,000
50
1874 500 &c.
100
100
100
v ic ic ia u u V/U1UIIIUUS um cilin
land Cincinnati Chicago & St. Louis.
6 g- F. & A. N. Y., John Patón «fe Co. Aug. 1, 1937
Q.—M. N. Y., Farm. L. «feT. Co. Sept. 1, 1891.
1%
6
J. & J.
do
do
Jan. 1, 1892
7
7
7
M. & N.
J. «fe J.
J. «fe J.
do
do
do
do
do
do
Nov. 1, 1900
Jan. 1, 19Ì3
Jan. 1, 1934
6 g. J. «fe J. N. Y., 4th Nat. Bank.
Jan. 1, 1916
A. < O.
fc
6
do
do
Apr. 1, 192»
6 g. J. «fe J. N. Y.; Balt.; Columbia. Jan., 1937
4^
41
2
1,401,000
7
777,000
7
2,500,000
7
600,000
7
1,584,000
7
8,000,000
5 g.
1,618,000
6 g.
4.000.
000
3.000.
000 5*g.
’
200,000
6 g.
350,000
5 g.
1,000,000
5 g.
1,786,200
2»5
500,000
7
800,000
3
1,000,000
3,000,000
3
J. «fe J. N. Y. .Farmers’ L. <feT Co. Jan. 1, 1030
.
J. «fe J. Balt., B. < O. RR. Co. Jan. 1, 1895
&
A.
J.
F.
M.
M.
M.
J.
< O. N. Y., Atlantic Trust Co.
fe
«fe J.
do
do
< A.
fc
do
do
«fe S.
do
do
«fe N.
do
do
«fe S.
do
do
«fe D.
do
do
Oct. 1, 1897
Jan. 1, 1892.
Aug., 1905
Sept., 1900
May 1, 1910
Sept. 1, 1931
June 1, 1904
J. «fe J. N. Y., Hatch < Foote. Jan. 1, 1940
fe
A. «& O.
do
do
April 1, 1916
J. «fe J. See Hatch < Foote.
fe
July 1, 1940
Q.-M. Columbus, 0., Treasurer Sept.10,1891
J. «fe J. Bost., Treasurer’s office. Jan. 1, 1894
M. «fe N. Concord, Co.’s office. May 1, 1801
M. «fe N.
Concord, Co.’s office.
May 1, 1891
This was a consolidation in July, 1881, of the Columbus < Hocking
fe
Valley, Columbus & Toledo and Ohio & West Virginia. The legality o f
the company’s ¡guaranty of interest on the Toledo & Ohio Central 1s t
mortgage was disputed m September, 1891. See Chronicle of Sept. 26 .
In August, 1889, a default was threatened by President Shaw on
coupons due September 1, but committees of stock and bondholders»
were organized, the interest paid, Mr. Shaw asked to resign, and C. C«
Waite elected President and S. D. Davis Vice-President.
Suit is in progress to recover the proceeds of sale of $6,200,000 consoli
dated 5s, claimed to have been wrongfully diverted from the treasury..
Of the consolidated mortgage $6,500,000 was reserved to meet the*
prior hens; the “ Hocking Coal & Railroad” joined in making theso
bonds. The Central Trust Company of New York is trustee. The gen
eral mortgage of 1884 covers the road, and is also a mortgage on the
coal property of the “ Hocking Coal <eRailroad Company,” whose stock
f
is owned by the Columbus Hocking Valley & Toledo.
^ Company owns equipment costing over $4,000,000, ofwvhich about
$1,000,000 is covered by car trusts due 1891 to 1897.
Dividends since 1881: In 1883, 2 ^ percent; in 1885,133s in stock;
none since. Stock, $11,696,300; par $100.
Price of stock—In 1885, 18@43; in 1886, 26%®45i3; in 1887,15®
39%; in 1888, 17®36%; in 1889, 11®28%; in 1890, 181
a'@32%; in
1891, to Sept. 18, inclusive. 22 @30*2.
From January 1 to July 31,1891 (7 months), gross earnings w ere
$1,697,098, against $1,578,949; net $772,150, against $722,671.
Report for 1890 was in Chronicle V. 52, p. 120, showing the following«
el
& W h e e lin g .—Owns from Lorain, O., to West
i
° ” 158 miles>and branch to Bellaire, O., 6 miles. The Cleve
land Tuscarawas Valley & Wheeling was sold in February, 1883, and
reorganized as Cleveland Lorain & Wheeling. Common stockis $1,000,$4,600,O O par $100. Lake Shore & Michigan
O,
C-®8»f°P. common and $774,400 preferred. There are
also $150,000 Cleveland Lorain & Wheeling first mortgage 6 per cent
Vqq?8
due July, 1895, and $226,000 car trusts, due in
1891, etc. In 1890 gross earnings were $1,209,655: net, $322,861
$264,862. In 1889 gross earnings were $1,124,
34b; net, $321,017; surplus over interest, $263,017. Dividends on
preferred stock in 1887, 3 per cent; in 1888, 2 per cent; in 1889, 2 per
cent. (V. 50, p. 734; V. 52, p. 830.)
C l e v e l a n d & M a h o n i n g V a l l e y . —Owns from Cleveland, O., to
Sharon, Pa., 81 miles; Niles, O., to New ¡Lisbon, O., and branches, 44
miles; total operated, 125 miles. Leased to the reorganized New York
Pennsylvania & Ohio Railroad till 1982; the rental is $502,180 per
year. The bondsof 1888 (trustee of mortgage Central Trust Company)
were for double-tracking between Cleveland and Youngstown, for ter
minals, and $1,141,000 reserved to retire prior bonds in 1893 and 1895.
Stock is $2,759,200 (par $50), and dividends of about l l ^ per cent per
annum are paid quarterly.
v
C l e v e l a n d & M a r i e t t a . —Owns from Marietta, O., to Cana1
Dover, and branch, 97 miles, and 8 miles, Valley Junction to Cana1
INCOME ACCOUNT.
P°ver, teased. The road was foreclosed for the second time in Mav,
„
.
1887.
1888.
1888.
1889.
1890:
in8?’ O
Q Ad o oa1
^
«?6^ Stock, $$2,000,000-par $100; car trusts, June
Receipts—
$
$
s
30,1890, $125,396. From July 1 to July 31, 1891 (1 month), gross
Gross earnings................. 2,595,583 2,875,515 2,496.319 3,056,75»
®armn/8 were $24 849, against $28,299 in 1890; net, $4,017, against
993,684 1,221,853 1,007,692 1,308,200
W 2 £• In
J ™ 8 $362,594, net $90,405. In 1889-90 gross Net earnings...................
8
Miscellaneous.................
44,485
28,579
28,335
32,147
$280,540; net $59,209. A. T. Wikoff, President, Cambridge, O.
C le v e la n d
&
P i t t s b u r g . —(See
Map
Pennsylvania Railroad./
Cleveland, O., to Rochester, Pa., 124 miles; branches—Bayard, O., to new
Philadelphia, 31 miles; Yellow Creek to Bellaire, 43 miles; leases, Roch
ester to Pittsburg (Pittsburg Fort Wayne & Chicago), 26 miles; total
operated, 224 miles. The property was leased for 999 years from De
cember 1,1871, to Pennsylvania Railroad Company, and lease trans
i t e d to Pennsylvania Company May 1,1872. Rental, 7 per cent on
existing capital (10 per cent on the old) and $10,000 per year for com
pany expenses, the lessees assuming all liabilities.
For the year 1890 the gross receipts were $3,593,673, and the deficit
to lessee was $2,517, against a deficit of $229,740 in 1889. (V. 48, p
99j v. 50, p. 70; V# 52, p. SO.)
C o l o r a d o M i d l a n d . —See A tchison T opeka <c Santa Fe System .
f
C o l u m b i a & G r e e n v i l l e (S . C . ) — (S e e
M a p o f R i c h m o n d <6 W est
T e r m i n a l. )— The company owns from Columbia to Greenville
®-y->
mile8 > branches to Abbeville and Anderson, 21 miles; total,
164 miles Also owns Laurens Railroad, 31 miles, and leases Blue
Bidge Railroad, 32 miles, and Spartanburg Union & Columbia Railroad,
69 miles. Total operated, 296 miles. The Greenville & Columbia road
was sold in foreclosure April 15,1880, and reorganization was made
under this name. Preferred stock, $1,000,000; common stock, $1,000,
000; par of shares, $100. Due other companies June 30,1890, $447 176
Ali the common stock is pledged by the Richmond & West Point Ter
minal Company, under its collateral trust of 1887, and in May, 1886
the road was leased to the Richmond <eDanville Railroad Company.
f
070! a g a S t $41^538^'lSOO?1 <6 months)’ gr08S ®arnings were $424,«
\
31,1890 (6 months), gross earnings were
$457,160, against $429,405 in 1889; net, $142,357, against $171,388.
In year ending June 30,’91, gross earnings, $875,484. In 1889-90
gross, $842,231; net, $252,858; interest and rentals, $250,807; sur
plus, $2,051. In 1888-89 gross, $694,030; net, $203,707.
d e w b e r r y & L a u r e n s . —Owns from Columbia, S. 0..
Junction, near Clinton, S. C.,.63 miles. Leased from Aug.
f» 18.3 > t° the receiver of the South Carolina Railway. Rental, $3,993
0
Tb® extension, 20 miles, to a connection with the Georgia
Carolina & Northern, near Clinton, S. C., was opened in April, 1891.
Stock authorized, $2,000,000; outstanding, $500,000; par $25.
C incinnati M id la n d .—Owns Columbus, O., to
Midland City, O., 71 miles. Opened in November, 1884. Affords the
Baltimore & Ohio a direct route between Pittsburg and Cincinnati.
Stock, common, $2,000,000; preferred (non-voting), $1,000,000. In
i or 999 years to Central Ohio, by which assigned
+h<?nA™+SaFnmS?10, 8ee.v * 51>P- 718. The Baltimore < Ohio assumes
fe
guarantee of principal and interest of the bonds and
t?e C0I?m0n 8tock- It also assumes the Central Ohio’s guaranDm° 1
8eju1
'aunually, commencing with
Po^t
Total receipts............ 1,038,169 1,250,432 1,036,027 1,340,347
Disbursements —
Int. on bonds <ccar trust.. 979,557
f
984,020
997,820
977,420
Interest on floating debt..
18,629
23,758
12,950
38,20»
Int. to Pa. RR. on lease...
24,048
24,086
24,658
24,490
Miscellaneous................................
3,118
Total disbursements... 1,022,234 1,034,982 1,035,428 1*040,115Balance......................... sur.15,935 sur.215,451 sur. 599 *300;23¿
* Of this amount $117,211 was spent for additions, improvements«
&c., and $174,635 for equipment, leaving a surplus of $8,385.
—(V. 50, p. 105, 519, 735, 799; V. 51, p. 303; V. 52, p. 40, 120.)
C o l u m b u s S h a w n e e & H o c k i n g . —Line of road, Columbus^
O., easterly to Zanesville and southerly to Glouster, Shawneeand Shawnee Junction, with branches; total, 161 miles, of which
110 miles are owned and 51 miles leased. This comnanv was formedL
in November, 1889, by consolidation of the Columbus & Eastern
foreclosed in 1888) and the Shawnee < Muskingum River Railroad.
&
The mortgage (trustee. Metropolitan Trust Company) is for $5,000,000«
ofwhich $1,500,000 is reserved for extensions and may be issued at
.mile of road completed and equipped. Stock authorized«
$6,000,000 (half preferred); outstanding, $4,000,000. The equipment
bonds are a first hen on equipment, a second lien on the road, and cover
$210,000 of the company’s first mortgage 5s, which can only be sold
for new equipment to be made subject to the equipment bonds The
Zanesville Terminal Railway is teased for 99 years, and its bonds guar
anteed as to interest. The companies using the Terminal’s iironertv
pay $2 00 per loaded car.
~
From January 1 to July 31,1891 (7 months), gross earnings on 157
^ te s were $296,511, against $147,760 on 146 miles in 1890; net,
$123.281, agamst $34,250. Hatch < Foote, 7 Pine Street, N. Y., fiscal
fc
agents. (Vol. 50,p. 313, 206 ; V. 51, p. 493; V. 52,p. 80.)
C o l u m b u s S o u t h e r n . —Completed in 1890 from Columbus, Ga., om
Central of Georgia Railroad, to Albany, Ga., on Savannah Florida &
Western, 88 miles. Stock, common, $880,000; preferred, $440,000.
Operated by Georgia Midland & Gulf. President, W. B. Lowe.
C o l u m b u s S p r i n g f i e l d & C i n c i n n a t i . —See Cleveland CiNtChicago & St . L ouis .
C o l u m l r a s & X e n i a . —Owns from Columbus, Ohio, to Xenia, Ohio*.
cinnati
55 miles. Operated as a division of the Little Miami, and is leased for
99 years from December, 1869, in connection with that road, to the Pitts
burg, Cincinnati Chicago & St. Louis, which pays 8 per cent on stock.
The lease is guaranteed by the Pennsylvania Railroad Company. TheColumbus & Xenia pays 825 per cent dividend per annum, 215 per centMarch 10 and September 10 and 2 per cent June 10 and December 10
C o n c o r d dc M o n t r e a l . —Owns from Nashua, N. H., via Concord«
to Woodsville (near Wells River Junction), 128 miles; Woodsville to
Groveton Junction, 53 miles; Wingroad to Mt. Washington, 20 miles l
Hookset branch, 3 miles; total owned, 204 miles. Leases Concord &
Portsmouth RR., Manchester to Portsmouth, N. H., 41 miles, and branch
C o l u m b u s H o c k i n g V a l l e y & T o l e d o . - ( S e e Map.)—Owns to Suncook, 7 miles; Suncook Valley RR., 24 miles; Peinigewasset Val
main line from Pomeroy, O., to Walbridge, O., 250 miles with trackage ley RR., Plymouth to North Woodstock, N. H., 20 miles; Manchester &
(Northwest Ohio) Walbridge to Toledo, 6 miles; bran^hes-Lo|an fo
Acton < Boston RR.,
&
Athens, 26 miles; Bogan to New Straitsville, 13 miles; Monday Creek North WeareRR., 19 miles; Nashuamiles. Operates lines to Nashua toConcord,
leased, 136
Belmont,
Junction to Nelsonvifle, 17 miles; others, 15 miles; total, 327 miles.
I Jefferson,25 miles; totalAlton Bay, 48 miles. Total operated, 388 miles.
Kilkenny and
46
IN V E S T O R S 5
SUPPLEM ENT.
[
vol.
Lin.
Septem ber,
1891,]
R A IL K 6 A D
STOCKS
AND
BONDS,
4T
S u b s c r ib e r s w i l l c o n fe r a g r e a t fa v o r b y g iv in g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d in tb e s e T a b le s .
RAILROADS.
F or explanation of column headings, &c., see notes
on first page of tables.
C on cord
<t M o n t r e a l . —(C o n c l u d e d . )
Bost. Con. & Mon. cons. mort. ($582,400 are 6s).c
Improvement mortgage.............................. ®
Consolidated mortgage for $5,500,000.... ------ c*
C o n n , dk P o s s u m .—Pref. stock, 5-6 p. c.ren’l^Oyrs.c*
1st mortgage (White Riv. Junc. to Canada line) c*
Massawippi st’k, guar, same div. as Conn. & Pass.
Newport & Richford 1st mort. guar, by C. & P.c
C o n c o r d dk P o r t s — S
tock, 7 p.c. mrl, 99 yrs. Conc’d..
C o n n e c tic u t R i v e r — S to c k ($2,670,000 authorized)..
C o n n e c tin g ( P h i l a . ) — 1st mortgage, endorsed... - - .c
C o r n i n g C o w a n e s q u e & A n t r i m —Deb., d’n at 100.. c*
C o sh o c to n d S o u th e r n — 1st mortgage............. ----k
C r e s s o n C le a r f ie ld C o . d N . ¥. S n o rt R o u t e —1st M.
k
C u m b e r l a n d & P e n n s y l v a n i a — 1st mort. gold, guar.
C u m b e r la n d V a lle y — Stock ($484,900 is preferred).
1st and 2d inorts., (2d $109,500 due April, 1908).
D a n b u r y dk N o r .—Stock, 5 p. c. gu. 99 yrs. Hous.RR.
2d mortgage, now 1st................. - - - - - .................... c
Consolidated mortgage ($100,000 are 6s).......... c*
General mortgage.-. ..........................- .....................-?*
D a n v i l l e <- E a s t T e n n .— 1st M., $25,000 p. m., gold.
£
D a n v i l l e <6 W estern —1st mortgage, gold, guar— c
D a y t o n dk M ic h .— Com. stock (3*2 p.c. guar. C.H.&D.)
Preferred stock (8 per cent guar. C. H. & D.).....
Consol, mort., guar, princ’l & int. by C. H. & D.c
Toledo Depot, 2d mortgage.............................c
D a y t o n d U n i o n —lstmort., sink, fund (notdrawn)c
k
Income mortgage bonds, sinking fund............. r
D a y t o n & W estern —1st M., guar. L. M. and C. & X.c
D e c . C h esa p . dkNew O r l.— 1st M., $20,000 p. m.,g.c*
D e la w a r e —Stock—6 p. c. guar, till 1898, P.W.&B....
Mortgage bonds, convertible, guar., P. W. & B.c*
B o n d s —Princi
INTEREST OR DIVIDENDS.
Size, or
pal,When Due«.
Amount
of
of
Par Outstanding Rate Per When Where Payable, and by Stock s —Last
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
166
166
1873 200 &e. $1,947,400
1881
1,000
500,000
1890
1,000
1,470,000
100
2,500,000
ii ö 1873 100 &c.
1,500,000
37
100
400,000
22 1881
1,000
350,000
47
100
350,000
80
100
2,580,000
7 1864
1,000
991,000
85 1883
1,000
1,070,000
30 1887
600,000
47 1884 50Ô &c.
750,000
57 1891
1,000
1,000,000
50
1,777,850
"52
500 &c.
270,500
37
50
600,000
36 1872 100 &c.
200,000
36 1880
1,000
300,000
36 1883
100
. 150,000
1891
1,000
(?)
1891
100
1,052,000
50
2,403,243
1871
50
1,211,250
Ï42 1881
1,000
2,675,000
1864
53,000
32 1879
1,000
225,000
32 1879
1,000
90,000
37 1864
1,000
495,000
1889
1,000
(?
)
iöö
25
1,703,257
85 1875 500 &c.
609,000
....
The Concord and the Boston Concord & Montreal railroads were con
solidated in September, 1889, forming this company. The Boston Con
cord & Montreal preferred (Class I) is entitled to 6 per cent yearly; the
Boston Concord & Montreal new stock (Class II, of which there is
$540,400), and old stock (Class III, amounting to $459,600) are entitled
to not exceeding 6 per cent yearly out of any saving which may result
from the refunding of the present funded and floating debt of the Boston
Concord & Montreal. The Concord stock (Class IV) will receive such
dividends as may be declared after providing for the other dividends.
The consolidated mortgage was authorized in February, 1890, to fund
the floating debt (amounting to $1,027,700 June 30, 1890), to provide
for retirement of prior bonds when due, and for improvements. The
Manchester & Lawrence has instituted suit to recover $1,000,000
claimed to be due from the Concord Railroad.
In January, 1891, the New Hampshire Legislature authorized the
issue of $3,000,000 stock for extensions, improvements, etc.
Dividends—In 1890, on class I. and class IV., 6 percent; in 1891,
May 1, 3.
Report for 1889-90 was in V. 51, p. 568. From April 1,1889, to June
30,1890 (15 months), gross earnings were $2,775,602; net, $937,272;
paid interest, $107,638; rentals, $66,527; taxes on capital stock,
$89,009; renewals, &c., $262,117; total, $525,300; balance, $411,982,
from which paid dividends, &c., $411,917. (V. 49, p. 341; V. 50, p. 313,
•422; V. 51, p. 5 6 8 ; V. 52, p. 349J
C o n c o r d Sc C l a r e m o n t (N . H . ) . —Owns from Concord to Clare
mont, N. H., 56 miles; branch, Contoocookville to Hillsborough, N. H.15 miles; leases—Peterboro & Hillsboro Railroad, 18 miles; total oper
ated, 89 miles. Controlled by Boston & Maine, which, with the Boston
& Lowell, guarantees interest on the bonds under lease of Northern RR.
Stock, $412,100.
C o n c o r d Sc P o r t s m o u t h . —Owns from Portsmouth, N. H., to
Manchester, N. H., 40 miles, and branch to Suncook, 7 miles. The
road was sold to first mortgage bondholders in 1857, and leased to Conoord Railroad in 1862 for 99 years. Lease rental is $25,000 a year,
which gives 7 per cent a year to present stockholders.
C o n n e c t i c u t Sc P a s s u m p s l c . —Owns from White River Junction,
Vt., to Canada Line, 110 miles; leases, Massawippi Valley and branch
(Canada), 37 miles; total operated, 147 miles. Under the lease of Mas
sawippi Railroad the stock of that company is to receive same dividends
as are paid on the stock of the lessee. The lessee holds $400,000 Mas
sawippi stock not included in the amount outstanding. From January
1,1887, this road was leased to the Boston & Lowell for 99 years on a
basis to pay Connecticut & Passumpsic stock 5 per cent per annum for
ten years and 6 per cent thereafter. In October, 1887, the Boston &
Lowell, carrying this road, was leased to Boston & Maine.
Dividends since 1880—In 1881, 5 per cent; in 1882 and 1883, 6; in
1884, 5*3; in 1885 and since at rate of 5 yearly.
C o n n e c t i c u t R i v e r . —Owns from Springfield, Mass., to Keene, N.
H., 75 miles; branches, 5 miles; total, 80 miles. Consolidated with
Ashuelot Railroad in February, 1890. In year ending June 30, 1891,
ross earnings were $1,120,644; net income over rentals, interest, &c.,
236,400. against $206,400 in 1889-90. Dividends since 1876 have
been at the rate of 2 per cent quarterly. Notes payable outstanding
June 30, 1891, $570,000. (V. 50, p. 245, 662; V. 51, p. 171, 382, 681;
V. 52, p. 239, 718; V. 53, p. 187, 367.)
C o n n e c t i n g ( P h i l a d e l p h i a ) . —Owns from Mantua Junction to
Frankford Junction, Pa., 7 miles; total mileage including 2d, 3d, 4th
tracks and sidings, 42 miles. Leased to Philadelphia & Trenton for
999 years, and with that road operated by Pennsylvania Railroad.
Rental $139,993, which pays 6 per cent on $1,278,300 capital stock
(par $50)—owned by Pennsylvania Railroad.
C o r n i n g C o w a n e s q u e Sc A n t r i m . —Owns from Coming, N. Y.,
to Antrim, Pa., 53 miles; branch to Harrison Valley, Pa., 32 miles;
total, 85 miles. Consolidation of several roads in 1873-74. Leased to
and operated by the Fall Brook Coal Company, together with 7 miles
owned. Rental, $150,000, equal to 6 per cent on common stock and 12
er cent on preferred stock; dividends paid quarterly, March 31, &o.
took—common, $1,500,000, and preferred, $500,000, par $50. The
coal line of Philadelphia & Reading and New York Central is over the
road of this company, which jointly with said companies guarantees the
bonds of the Pine Creek Railroad Company. In March, 1891, $180,000
bonds were called for payment, reducing bonds outstanding to $1,070,000. See V. 52, p.27.
In year ending June 30, 1890, gross earnings were $692,762; net,
$135,929; deficit to lessee, $28,984. In year ending Sept. 30,1889,
surplus to lessee, $3,709. George J. Magee, President, Corning, N. Y.
—(V. 52, p. 427.)
C o s h o c t o n Sc S o u t h e r n . —Owns Coshocton, O., to Zanesville,
about 30 miles; completed in June, 1889. Operated by Cleveland &
Canton under a verbal agreement. Stock $600,000. Net income in
1889-90, $10,880; interest, &c., $27,671; deficit, $16,791. President,
J. W. Cassingham, Boston, Mass.
C o v i n g t o n & M a c o n . —See M acon & N orthern .
f
C r e s s o n C l e a r f i e l d C o u n t y Sc N e w Y o r k S h o r t R o u t e . —
Owns from Cresson, Pa., to Irvona, Pa., 27 miles, and branch to Rich
land Mines, 2 miles. Stock, $1,000,000. In 1890 gross earnings were
$109,795; net, $58,802; paid interest on bonds, $45,000; other pay
ments, 23,923; deficit, $10,121.
6& 7
6
4
2*3
7
2ia
5
3*2
2
6
6
5
6
5 g.
2
8
2^
7
5& 6
5
5 g.
5 g13t
2
5
7
7
6
6&7
6 g3
6
A. & O. B’ston, Faneuil Hall B’k
J. & J.
do
do
J. & D.
do
do
F. & A, Boston, S. Dep. &Tr. Co.
A. & O.
do
do
F. & A.
do
do
J. & J.
do
do
J. & J. Bost.&Manchester, N.H
Springfield, Mass.
Q.-J.
M. & 8. Phila., Penn. RR. Office.
M. & N. Phila., Fidelity Trust.
J. & J. Boston, Intem’l Tr. Co.
M. & N. N. Y., Morton, Bliss.
M. & N. N.Y.,Consol. Coal Office.
Q.-J- Phila., T. A. Biddle & Co.
do
do
A. & 0.
F. & A. Bridgeport, Hous. RR.
do
do
J. & J.
do
do
J. & J.
A. & O.
do
do
J. & J. New York Agency.
A. & O. N.Y., Richmond & Dan.
A. & 0.
Cincinnati.
do
Q-—J-.
J. & J N.Y., Kessler & Co.; Cin.
do
do
M. & S.
J. & D. N.Y., Am. Exch.Nat.Bk.
J. & D.
J & J. N. Y., Bank of America.
J. & J.
Dover, Co.’s Office.
J. & J.
J. & J. Phil., Fid. I.T. &S.D.CO.
Apr. 1, 189»
Jan. 1, 1911
June 1, 1920Aug. 1, 1891
Apr. 1, 189»
Aug. 1, 1891
Jan. 1, 1911
July 1, 1891
Oct. 1, 1891
1900-’l-’2-’3-’4
May 1, 189»
1917
May 1, 1904
May 1, 1921
Oct. 1, 1891
Apr.l, 1904-»
Aug. 15,1891
July 1, 189»
July 1, 1920
Apr. 1, 1925
July 1, 1921
Oct. 1, 193»
Oct. 1, 1891
Oct. 7, 1891
Jan. 1, 1911
Mch. 1, 1894,
Dec. 1, 1900
After 1910
Jan. 1, 1905
July 1, 1921'
July, 1891
July 1, 1895
C u m b e r l a n d Sc P e n n s y l v a n i a . —Owns from Cumberland, Md.,
to Piedmont, Md., and several branches, 57 miles. It is owned and
operated by Consolidation Coal CompaAy. The new first mortgage bondswere issued to refund bonds maturing. They are guaranteed (endorsed)»
by the Consolidation Coal Company—which see. See V, 52, p. 390.
Stock, $1,500,000; par, $100. (V. 52, p. 390.)
C u m b e r l a n d V a l l e y . —Owns from Harrisburg, Pa., to Potomac
River, Md., 82 miles (ana with leased lines operates to Winchester, a
total distance of 116 miles). It leases—Cumberland Valley & Martinsburg Railroad, 34 miles; Dillsburg & Mechaniosburg Railroad, 9 miles;:
Southern Pennsylvania Railroad, 21 miles; controls Mont Alto Railroad,.
18 miles, but accounts are kept separate; total controlled and operated,
165 miles. An extension of the Southern Pennsylvama, it is said, will,
be built to Fannettsburg. Of the stock, $975,800 common and $237,200preferred is owned by Pennsylvania Railroad Company. Large advances
have been made to branch roads. The Southern Pennsylvania is leased
for net earnings; no interest paid on bonds since March, 1875.
Dividends: in 1880 to 1884,10 per cent yearly; from 1885, to Oct.,.
1891, both inclusive, at rate of 8 per oent yearly.
In 1890 gross earnings on the main line were $919,523; net, $251,650;;
surplus over fixed charges, $219,989, against $214,281 in 1889.
D a n b u r y Sc N o r w a l k . —Owns from Danbury, Conn., to Wilson.
Point, South Norwalk, Conn., 26*2 miles; branches to Ridgefield and
Hawleyville, together, 10 miles ; total operated,
miles. Leased tothe Housatonic for 99 years from October, 1886, the lessee to pay inter
est and 5 per cent per annum on stock.
D a n v i l l e Sc E a s t T e n n e s s e e .—Projected from Danville, Va., on
the Atlantic & Danville Railroad, to Bristol, Tenn., on the East Tenn.
Virginia & Georgia, about 180 miles. Stock authorized, $3,000,000 forroad in Virginia and $20,000 per mile in North Carolina—par $100..
The Mercantile Trust Co. of New York is trustee of the mortgage,,
Thomas Ewing, President, New York City. (V. 53, p. 48.)
D a n v i l l e Sc W e s t e r n . —Owns from Danville, Va., to Patrick Court
House, Va., 70 miles, narrow gauge. Successor to the Danville & N ew
; River, sold in foreclosure in August, 1889, and purchased in interest of
Richmond & Danville, which guarantees principal and interest of the:bonds, $552,000 of which it owns. Stock is $368.600, par $100.
, D ay ton Sc M ic h ig a n .—Owns Dayton, O., to Toledo, O., 141 miles,.
! and leases Deshler to Findlay, 11 miles. Leased May 1,1863, in perpe
tuity to Cincinnati Hamilton & Dayton. Lease amended January 23,
1870. The rental is the interest and sinking fund of debt, and 8 per
cent on preferred stock and
per cent on $2,396,750 common. Profit
to lessee in 1885-6, $215,219 ; in 1886-7, $276,562 ; in 1887-8, $363,933;;
in 1888-9, $348,068 ; in 1889-90, $379,494. Gross earnings in 1889-90,
$1,591,123; net, $692,294; surplus over interest, $554,834. Duelessees for advances, March 31,1890, $758,405.
D a y t o n Sc U n i o n , —Owns from Dodson, O., to Union City, Ind...
32 miles ; leases Dayton to Dodsdon, 15 miles ; total operated, 47 miles.
Operated by Cleveland Cincinnati Chicago & St. Louis, which, jointly
with the Cincinnati Hamilton & Dayton, owns the capital stock. Au
surplus earnings over interest goes to a sinking fund for the redemption
of bonds at not above 100. Capital stock $86,300 ; par, $50. In year
ending June 30,1890, gross earnings, $156,119 ; net, $52,559 ; surplus
over charges, $16,954.
D a y t o n Sc W e s t e r n . —Owns from Dayton, O., to State line, Ind.,
37 miles, and leases 4 miles to Richmond, Ind. Leased from January 1,
1865, for 99 years, renewable forever, to Little Miami, and carried with*
that road in the general lease to the Pittsburg Cincinnati Chicago <c
f:
St. Louis. The lessees, Little Miami and Pittsburg Cincinnati & StLouis, are virtual owners and are answerable for all obligations. Of
above bonds $32,000 are 7s.
D e c a t u r C h e s a p e a k e Sc N e w O r l e a n s .—Projected from Deoatur. Ala., to Gallatin or Nashville, Tenn., of which 34 miles from Ala
bama State line northward are completed. Was under construction from
Decatur, Ala., to Shelbyville, Tenn., 125 miles. In December, 1890,
W. L. Frierson, of Shelbyville, was appointed receiver, and in January,
1891, the road was ordered sold. Sale which was to take place Aug.
10,1891. has been indefinitely postponed, and a new management has
taken possession, with Nelson Cromwell as President.. A compromise
with the creditors was proposed in July, 1891—see plan V. 53, p. 58See V. 52, p. 80. Mortgage is for $3,000,000. Stock authorized, $3,000,000—$20,000 per mile. (V. 49, p. 760; V. 52, p. 80; V. 53, p. 58.)
D e l à w a r e . —Owns from Delaware J unction(Philadelphia Wilmington»
& Baltimore), Del., to Delmar (Maryland line), 84 miles; branches, 1 »
miles; total operated, 100 miles. Opened 1855-60, and leased for 21
years from 1876 to the Philadelphia Wilmington & Baltimore Company
rental, 30 per cent of gross earnings, but stock must have 6 per cent. If
the 30 per cent is more than sufficient to pay charges and 6 per cent
dividend, the residue goes to lessee for advances (if any), and any bal
ance is divided equally between lessee and lessor. Of the stock $744,350
is owned by Philadelphia Wilmington & Baltimore. In year ending Octo
ber 31.1890, gross earnings were $857,777 ; het, $132,049 ; interest,
dividends, etc., $148,634; deficit, $16,584, payable by lessee as per lease.
D e l a w a r e Sc B o u n d B r o o k . —Owns from Bound Brook (Central
of New Jersey) to Delaware River, 27 miles ; branch to Trenton, 4 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 Rail
road Company—the lessee paying interest and 8 per cent on stock after
May, 1883. Gross earnings in 1890, $954,302 ; net, $419,776.
48
IN V E S T O R S ’
SUPPLEM ENT.
[Y ou LIU.
S e p t e m b e r , 1891. J
K A IL E O A D
STO CKS
AND
BONDS.
S u b s c r i b e r s w i l l c o n f e r a g r e a t f a v o r b y g iv in <
RAILROADS.
onlirst page of tables.
B o n d s —Princi
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.
$100
1,000
1,000
100
1,000
1,000
$1,777,000
1,500,000
277,000
D e l a w a r e & H u d s o n C a n a l—-Stock......... .....
30,000,000
1st mortgage, extended in 1877...............
1867
549,000
Debentures secured by Penn. Div. Bonds...
1874
4,829,000
1877 l.OOO&c 5,000,000
" 14 1874 100 &c.
500,000
1890
1,000
300,000
D e la w a r e L a c k a w a n n a <6 W estern — Stock.
50 26,200,000
288 1877
3,067,000
Plain bonds (not mortgage) convertible.............
1872
1,000
600,000
D e l. M a r y l a n d <6 V a . —Junc. & B.—1st M. to State..
■‘ 4 i860
4
400,000
Junction & Breakwater 2d mortgage............. c*
44 1879
1,000
250,000
Breakwater & Prankford 1st mortgage to State..
19 1873
200,000
Worcester RR. 1st. M. (s.f. notinoperat’n) gold.c*
35 1876 50Ó&C.
400,000
D e la w a r e <t N e w E n g .—Col. Tr., red. after June ’91 .*
1889
1,000
2 ,000,000
D e n v e r <£ R i o G r a n d e — Stock ($45,500,000)...........
100 38,000,000
Pref. stock, 5 per cent non-cum. ($28,000,000)...
100 23,650,000
1st mortgage, gold, sinking fund................ e*&r 295 1871 500 &c.
6,382,500
*< r
Consol, mortgage, gold, (for $42,000,000)__ c fc 1,621 1886 500 &c. 28,435,000
improvement mortgage ($5,000 per mile) g. .c*&r 1,610 1888
500
8,050,000
1st mortgage.
27
4
1875
1879
D e l a w a r e Sc H u d s o n —(S e e M a p . )— Owns canal from Rondout, N.Y.;
to Honesdale, Pa., 108 miles; completed in 1828. Also owns tbe follow
ing railroads, viz. : Lackawanna & Susquehanna—Nineveh, N. Y., to Jeffer
son Junction, Pa., 22 miles; Valley RR.—Carbondaleto Scranton, Pa., 17
miles; Gravity RR. (4 feet 3 inch gauge)—Olyphant to Honesdale, 56 miles;
Schenectady & Meohanicville—East Glenville to Coons, N. Y., 10 miles •
Cherry Valley Sharon & Albany—Cobbleskill to Cherry Valley, N. Y., 21
miles; Schenectady & Duanesburg—Sohenectady to Duanesburg, 14
miles; Adirondack RR.. 57 miles; total owned, 197 miles.
Leases : Albany & Susquehanna—Albany to Binghamton, 142 miles ;
New York & Canada—Whitehall, N. Y., to Rouse’s Point, N. Y., 113
miles, and branches, 37 miles ; Rensselaer & Saratoga and leased lines—
Albany, N. Y., to Lake Champlain, N. Y., and branches, 192 miles;
Utica Clinton & Binghamton and Rome & Clinton, sublet to New York
Ontario & Western, 44 miles ; Union Railroad—Green Ridge to Wilkesbarre, Pa., 20 miles; other lines, 4 miles, and Jefferson Railroad (track
age)—Jefferson J unction to Carbondale, 35 miles. Total controlled, 727
miles, but only 686 operated in Delaware & Hudson system.
This company was chartered April 7,1823. It is among the largest
miners and carriers of anthracite coal. In June. 1889, the Adirondack
Railroad (60 miles) was purchased.
Of the Rutland Railroad stock Delaware & Hudson owns $3,000,000
preferred and $1,000,000 common.
The Delaware & Hudson stock was increased to $30,000,000 to pay off
the bonds due in 1884 and 1891. Of this the $5,500,000 in treasury was
issued at75 to stockholders of Oct. 15,1890. The proceeds, together with
the $25 per new share appropriated from surplus are to be used in retiring
$5,500,000 bonds due January and November, 1891. (V. 51, p. 383.)
The Pennsylvania Division bonds cover coal lands, collieries, rail
roads, canal, equipment and all other property in Pennsylvania.
Dividends since 1880 : In 1881, 4 * ; in 1882,7; in 1883,7; in 1884.
2
7; in 1885, 6 ; in 1886 and 1887, 5; in 1888, 6 ; in 1889, 7; in 1890,
7 ; in 1891, March, 1%; June, 1%; September, 134.
Price of stock: In 1883, 102*2®112*s; in 1884, 67®114; in 1885.
66*s@ 100*2; in 1886, 87*4® 108*2; in 1887, 96*2® 106*2; in 1888,103®
134; in 1889, 130®156; in 1890, 120® 175; in 1891, to Sept. 18
inclusive, 1247
8@141*2.
Report for 1890 was in Chronicle, V. 52, p. 319.
INCOME ACCOUNT.
1887.
1888.
$
$
From coal.............. 9,951)163 10,622)067
From railroads........ 9,189,974 • 9,554,221
From miscellaneous..
461,507
552,892
R e c eip ts —
1889.
1890.
$
$
8,652,318 7,800,207
9,482,975 10,670,732
822,300
911,968
Total........ ....... . 19,602,644 20,729,180 18,957,593 19,382,907
Operating expenses.. 13,388,570 14,044,710 12,992,868 13,303,234
Net.................... 6,214,074 6,684,470 5,964,725 6,079,673
Int., taxes & rentals.. 3,303,768 3,340,336 3,426,829 3,511,333
Q.—F. Phila., 240 So. Third St.
F. & A. Phila., Guar.T.& S.D.Co.
M. & N. Phila., Of., 240 So.3d St.
Q—Mch. N.Y.Of.,21 CortlandtSt.
M. & N.
do
do
A. & 0.
do
do
M. & S.
do .
do
M. & S.
do
do
J. & J.
do
do
Q.—J. N. Y., 26 Exchange PI.
M. & S.
do
do
J. & D.
do
• do
J. &’ J. Phila.,233 So.Fourth St.
F. & A.
do
do
J. & J.
do
do
A. & O.
do
do
J. & D. Philadelphia, Office.
Aug. 17,1891
Aug. 1. 1905.
Nov. 1, 1899Sept. 15,1891
Nov. 1, 1891
Oct. 1, 1894
Sept. 1, 1917
Sept. 1, 1924
Jan. 1, 1940
July 20,1891
Sept. 1, 1907
June 1, 1892:
Overdue.
Feb., 1899Jan., 1898
April, 1896
June 1, 1899»
2*2
Office, 47 Wm. St., N. Y.
7 g. M. & N. N. Y., Fourth Nat. Bank.
4 g. J. & J.
do
do
5 g- J. & D. N. Y., Fourth Nat. Bank.
Feb. 16,1891
Nov. 1, 1900
Jan. 1, 1936
June 1, 1928
2
7
6
1%
7
7
7
6
4 g.
1%
7
7
4
4
4
4 g.
6 g.
INCO M E ACCOUNT.
Net receipts.................
Interest and rentals.....
1887.
$
8,341,796
5,203,419
1888.
1889.
1890.
$
$
$
8,718,682 7,370,459 7,948,767
5,218,419 5,222,375 5,328,494
Balance, surplus...........
Dividends (7 per cent...
3,138,377 3,500,263 2,148,084 2,620,273
1,834,000 1,834,000 1,834,000 1,834,000
Balance after dividends. 1,304,377 1,666,263
314.084 786.273
—(V. 50, p. 170. 245, 703, 707; V. 51, p. 172; V. 52, p. 202, 280, 707.>
» u a w a r e H a ry la n d Sc V ir g in ia .—Road extends from Harring
ton to Rehoboth, Del., 44 miles; Georgetown to Franklin City, Va., 54
n*d®8 ’ t ?*,9,1’, 9,8
Í
I** July, 1885, the company passed into control
of the Philadelphia Wilmington & Baltimore Railroad, and became part
£ tiie. Pennsylvania Railroad system. In May, 1891, it was agreed
,
that of the $600,000 debt due the State of Maryland, the Philadelphia
Wilmington & Baltimore should pay $215,000 in cash and that the
balance of $385,000 should be extended in a 3 per cent mortgage for 40years, but redeemable at company’s option after January 1, 1895. See
V. 50, p. 498. In year ending October 31,1890, gross earnnigs $207.3ol; net, $31,941, against $14,839 in 1888-89; defioit under interest.
$18,547. (V. 52, p. 498.)
, D e la w a re Sc N e w England..—This company owns $4,250,000 of
the $o,000,000 Poughkeepsie Bridge Co. stock, $1,600,000 of the Cen
tral New England & Western (whole issue) and $900,000 Hartford <
fe
Connecticut Western. The collateral trust bonds of 1889 are secured by
deposit of $4,000,000 Poughkeepsie Bridge stock and $1,597,400 Cen
tral New England & Western stock. Stock, $7,500,000 (par $100) is.
held by trustees to preserve unity of system, and trustees’ certificates,
issued therefor are dealt in on the market. President, J. W. Brook
Philadelphia. (V. 49, p. 82, 654; V. 50, p. 275; V. 51, p. 876.)
D en ver Sc R io G ra n d e .— (S ee M a p ) —Owns from Denver City.
Col., via Pueblo, Salida, Gunnison, Montrose and Grand Junction, tothe western boundary of Colorado, where it connects with the RioGrande Western to Salt Lake City and Ogden. Branches run to Leadville, Dillon, Rifle Creek, Crested Butte, Silver Cliff, Chaffee, Aspen.
Ouray and Hot Springs; also from Pueblo to Silverton, via Cuchara.
Alamosa and Durango, with branches to El Trinidad, Española, Del
Norte and Wagon Wheel Gap, eto.; total, August, 1891,1,562 miles.
The standard gauge and road with third rail (completed and under con
struction) embraces a considerable part of the mileage. In Novem
ber, 1890, a through standard gauge route was opened between Denver
and Ogden over this road, the Rio Grande Junction (which see) and theRio Grande Western. See V. 51, p. 680.
The former Denver & Rio Grande Railway was foreclosed July 12.’
1886, and reorganized as the Denver & Rio Grande Railroad.
The Rio Grande Junotion Railway is leased jointly by this oompany
and the Colorado Midland, and its bbnds guaranteed.
Of the consolidated gold bonds (United States Trust Company, trus
tee) $6,382,500 were reserved to retire the prior bonds when due. See
abstract of mortgage in Chronicle, V. 47, p. 228.
In June, 1888, the improvement mortgage for $5,000 per mile waa
issued for laying third rail and for other improvements; trustee, United
States Trust Company. See V. 50, p. 422, 589. Mortgage abstraer in
Chronicle , V. 47, p. 229.
Dividends on preferred stock: In 1887, 2*2 per cent; in 1888, 2*a per
cent in cash and 1 *4 in scrip, subsequently redeemed in cash; in 1889.
nil; February, 1890, 1%; August, l*a; in 1891, February, 2 *3 ; i i
August ml.—See V. 53, p. 108,125, 140.
Price of common stock since reorganization: Inl886,14%@35% (assess
ment paid); in 1887, 20*3o>32% in 1888,15@23; in 1889,14%@18*3; in
;
1890, 14*3@217 *n 1891, to Sept. 18, inclusive, 13*4®20?8.
8;
Price of preferred stook: In 1886, 53%637 in 1887, 527 6839; in
8;
a®
m 1889’ d2*4@527 ; in 1890, 45@61*3; in 1891, te
8
Sept. 18, inclusive, 44*2®637 .
8
From Jan. 1 to June 30,1891 (6 months), gross earnings on 1,637'
miles were $3,817,191, against $3,859,744 on 1,499 miles in 1890; net,
$1,158,180, against $1,530,710.
Fiscal year will hereafter end June 30. Report for 1889 at length in
Chronicle V. 50, p. 520. The figures for 1890-91 below are for the year*
ending June 30,1891, June being partly estimated.
1887.
1888.
1889.
1890-91.
$
$
$
$
Gross earnings......... .
7,983,419 7,668,654 8,046,603 8,829,751
Net earnings................... *3,283,369 2,563,972 3,332,410 3,301,636
Balance for stock, 2,910,303 3,344,134 2,537,896 2,568,340
—(V. 50, p. 172, 204, 703: V. 51, p. 383, 569, 753, 910; V. 52, p. 202»
319.761.)
v
D e l a w a r e L a c k a w a n n a Sc W e s t e r n . —(S e e Map;.—This com
pany operates under lease an extended system of roads in New York
Pennsylvania and New Jersey. Owns from Delaware River (N. J. line)
to New York State line, 115 miles ; branches—Scranton to Northumber
land, 80 miles; branches to Winton, Storrs, Keyser Valley, etc., Pa., 17
toiles ; leased lines in New York—New York Lackawanna & Western
Railroad, 214 miles ; Cayuga & Susquehanna Railroad 34 miles ; Greene
Railroad, 8 miles; Oswego & Syracuse Railroad, 35 miles; Utica Chen
ango & Susquehanna Valley Railroad, 97 miles; Valley Railroad, 12
miles; controls and operates—Syracuse Binghamton & New York, 81
miles ; leased lines in New Jersey—Chester Railroad, 10 miles ; Morris &
Essex, 120 miles; Newark & Bloomfield, 4 miles ; Warren Railroad, 18
miles; Sussex, 30 miles ; Passaic & Delaware and extension, 22 miles;
total operated, 900 miles.
Formerly paid 10 per cent dividends, but 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%; from 1886 to July, 1891, both
Inclusive at rate of 7 per cent per annum.
Price of stock in 1884, 86%@133*8; in 1885, 8258®293r; in 1886.
115® 144; in 1887,113*8®139*2; in 1888.123*2® 145*e; in 1889,1343«
@151; in 1890, 12338@149*25 in 1891, to Sept. 18, inclusive, 1303«®
144%.
On the leased lines from January 1 to June 30, 1891 (6 months),
gross earnings were $3,549,365, against $3,467,816 in 1890 ; net, $!,D is b u r s e m e n ts —
606,355, against $1.595,434; fixed charges, $1,164,166, against $l!- Interest on bonds............ 1,405,775 1,492,615 1,654,675 1,944,805
122,831; surplus, $442,189, against $4727603.
*
? ' T a x e s an d insuraneA
qqq
qa* « a
Q-in a « q
q« a a h a
The report for 1890 was in Chronicle, V. 52, p. 202.
Dividend on pref. stock... 1,182,500
295,625
591,250
EARNING!-» AND E X P E N S E S .
Betterments..................
250,524
240,906
240,000
240,000
Miscellaneous................
16,609
1887.
1888.
1889.
1890.
40,551
52,434
150,000
$
$
$
$
Gross reo’ts all sources.. 39,845,857 43,232,422 38,247.622 40,688-645
Total......... ............ 3,146,341 2,415,247 2,267,177 3,286,055
Operating expenses..... 30,694,000 33,546,135 30,653,586 32,499 859 Surplus................ ......... 137,028
148,725 tl,065,233
15,581
Betterments, equip., &e..
810,061 967,605
223,577
240,019
* includes $41,997 other reoeipts. t From the surplus of 1889 1*4 per
cent was paid on preferred stock February, 1890.
Total expenses........ .. 31,504,061 34,513,740 30,877,163 32,739.878 —(7. 50, p. 106, 275, 312, 391, 422, 500, 5 17, 520, 589, 706, 770: V_
N et receipts................. 8,341,796 8,718,682 7,370,459 7,948,767 51, p. 680; V. 52, p. 80.126, 762 ; V. 53, p. 108,1 25.)
IN V E S T O R S ’
SUPPLEM ENT.
[Y ol.
LIU.
S e p t e m b e r , 1891 ]
R A IL R O A D
STOCKS
AND
BONDS.
51
Ä3
IN V E S T O R S ’
[V ol. LUI.
SUPPLEM ENT.
S u b s cr ib e r s w i l l c o n fe r a g r e a t f a v o r b y g iv in g I m m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d In th e s e T a b le s .
B o n d s — Princi
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,^When Due.
Stocks—Last
Par
of
of
For explanation of column headings, &c., see notes
Outstanding Cent. Payable
Whom.
Dividend.
Road. Bonds Valuq.
on first page of tables.
Des Moines <k Ft. D o d g e — 1st mortgage, interest guar
1st mortgage, income, interest guaranteed........
Mortgage on extension, interest guaranteed......
DesMoinesdkNo.— lstM.for$832,000($20,000p.m.)o*
D e s Moines U n i o n —1st mortgage...................... Detroit B a y Oity <& Alp.— 1st mortgage, gold.......c*
Detroit G r a n d H a v e n <& Mil.— 1st equip, m. g. gu..c*
Consol, mort. gold, guar, by Gr. Trunk of Can.c*
Detroit Hillsdale & S. W. —St’k,4 p. c. rent’l,L.S.&MS.
Detroit L a n s i n g <k Northern —Stock, common------ -
Ionia & Lansing ist M.,extended in 1889,guar.c*
D.L. & N. consol, mort. (lstmort.on 167 m.)...o
Saginaw & Western 1st mort., endorsed, gold, .c
Gr. R. L. & D. 1st ($20,000 p. m.) endorsed...... o’
*
D u b u q u e <6 Sioux Oity—Stock......................
1st mortgage 2d division............ — -- - - - •
Gen. mort. for $3,000,000, held by 1 1 Cent.jg.c&r
1.
Iowa Falls & Sioux City 1st M., Ia. F. to S. City
Cher & Dak. and Cedar Rap. & Chic. 1st morts.
Dal. B e d Wingdk So.—1st M.,g.,$20,000 per m
ile.e*<fer
Dul u t h South Shore Atlantic—
Marquette & Onton. 1st mortgage, not drawn —
Marq. H. & On. Mort.,1st on 40 miles, red. at 100
Mortgage. 1st on 45 miles, red. at 105.......c fc
*< r
Gen. Mort.—1st. M. on Mar. & West., 21 m..... o’
New 1st consol, mort.,interest guaranteec
D u l u t h <& Winnipeg. —lstM.for$7,000,000,gold.c < r
fc
$1,200,000
1,200,000
672,000
740,000
4
2ia
4
5 g-
1,000
1883
1,000
1878
1878 20Ó &c.
100
100
100
1,000
1869
1877 500 &e.
1,000
1883
1,000
1887
100
1864 500 &c.
1888
1869 500 &e.
1888
1887 l,000&c
1,000
1888
2,500,000
2,000,000
3,200,000
1,350.000
1,825,600
2,510,000
770,000
2,672,000
566,000
1,108,000
8,000,000
586,000
1,295,000
2,339,500
3,930,000
4,531,000
(?
)
6 g6 g.
6g
2
3
3ia
5
7
6 g5
1
7
5 g.
7
5
5
5 g-
1872 100 &c.
1,000
1878
1,000
1883
1,000
1885
1,000
1887
1,000
1888
1890 10Ó &c.
1,000
1889
1,354,500
576,000
1,500,000
1,400,000
4,000,000
3,800,000
(?
)
1,600,000
8
6
6
6
5
5
4
5
88
88
56
42
1874 $1,000
1,000
1874
1,000
1881
1,000
1890
233
189
189
65
55
222
43
55
524
43
143
184
197
116
50
90
78
156
366
383
545
g.
g.
g.
g-
J.
J.
A.
J.
A.
J.
& J. N. Y., Chic.R.I.& Pac. Co.
& J.
do
do
do
do
& J.
<c J. N. Y., Central Trust.
f
& N. N. Y., Central Trust.
& J. N. Y., Farm. L. & Tr. Co.
& O. NYAg.CanBk.Com&Lo.
<c O.
f
do
do
& J. N. Y., Farm. L. & Tr. Co.
& A.
Boston.
< A. Boston, Of., 50 State St.
fe
& J. Boston, 2d Nat. Bank.
& J.
do
do
& J.
do
do
& S.
do
do
N. Y., Office, 216 B’way.
do
do
<e J.
f
& D.
do
do
do
do
& O.
do
do
& D.
& O. N. Y., Office, Mills Bldg.
New York City.
& J.
J.
M.
J.
A.
J.
J.
F.
J.
&
&
&
&
&
&
&
&
J.
J.
J.
J.
M.
J.
A.
A.
J.
F.
F.
J.
J.
J.
M.
D. N. Y., Chase Nat. Bank.
do
do
s.
do
do
D.
do
do
().
do
do
J.
New York City.
D.
A. New York or London.
J. Phil. ,Gua.Tr. &SafeDep.
Jan.
June
June
Jan.
1,
1,
1,
1,
1905
1905
1905
1940
Jan. 1, 1913
Nov. 14,1918
Nov. 15,1918
July 5, 1891
Feb. 15, 1887
Feb. 15, 1888
July 1, 1899
Jan. 1, 1907
July 1, 1913
Sept. 1, 1927
June 30,1891
July, 1894
June 1, 1938
Oct. 1, 1917
Dec. 1, 1935
Oot. 1, 1937
Jan. 1, 1923
June
Mch.
June
Apr.
Jan.
June
Aug.
July
1,
1,
1,
1,
1,
1,
1,
1,
1892
1908
1923
1925
1937
1938
1990
1929
total, 524 miles. Also leases Cedar Falls & Minnesota, 76 miles. In
April, 1887, a controlling interest in the stock was sold to Illinois
Central and in February, 1891, the road was leased to that company,
the rental being net earnings and the lease being terminable on 60 days
notice. See V. 52, p. 350; V. 51, p. 493.
D e n v e r T e x a s Sc F o r t W o r t h . —Se e U nion P a c - D e n v e r < G u l f .
fc
In.1887 the Dubuque & Sioux City RR. Co. began a suit to annul the
D e s M o i n e s Sc F o r t D o d g e . —Owns from Des Moines to Fort lease of the Cedar Falls & Minnesota Railroad. Under a cross bill in the
Dodge, la., 87 miles, with an extension 56 miles to Ruthven, connecting U. S. Circuit Court in Chicago, that Court decided the lease valid as
with Chicago Milwaukee & St. Paul. Common stock, $4,283,100; pre against the Dubuque & Sioux City Co., but that the Illinois Central
ferred, $763,500; par, $100. Leased from Jan. 1,1887, to the Chicago Railroad Co. is in no way bound to the Cedar Falls & Minnesota Co.
Rock Island & Pacific for 19 years at a rental of 30 per cent of the gross The Dubuque & Sioux City Company has appealed to the Supreme
earnings, with a guarantee of 4 per cent interest on the first mortgage Court of the United States.
Stock is $8,000,000. See V. 47, p. 440, Illinois Central owns $7,897,and extension bonds, and 21 per cent per annum on the incomes.
a
300 stock and all the 5 per cents; also all the Cherokee & Dakota and
D e s M o i n e s N o r t h e r n Sc W e s t e r n . —Owns from Des Moines to Cedar Rapids & Chicago 5s, due in 1935, which are pledged as part
Boone, Iowa, 42 miles, and from Clive (7 miles from Des Moines) to security for its 4 per cents of 1952.
Fonda (narrow gauge), 107 miles; total, 149 miles. A consolidation in
Dividends: In 1888, *2 of 1 per cent; in 1891, June 30,1 per cent.
1891 of the Des Moines & Northern and the Des Momes & North
From July 1,1890, to December 31 (6 months), gross earnings were
western. The narrow-gauge portion of the road is to be made standard $1,204,851, against $1,037,405 in 1889; net,$340,078, against $322,516.
at once. There are also first mortgage 5 per cents, due in 1895, on the In year ending June 30, 1891, gross earnings were $2,558,222 In
Fonda Division. Stock authorized, $6,500,000; par, $100- From 1889-90 gross $1,909,924; net, $476,926. Deduct interest, $484,538;
January 1 to August 31,1891 (8 months), gross earnings on 149 miles loss on Cedar Falls & Minnesota, $189.170, leaving a deficit balance of
were $207,673. against $209,031 in 1890. President, F. B. Hubbell. $196,783. (Y. 48, p. 489; V. 50, p. 421; V. 51, p. 493; V. 52, p. 350,
—(V. 53, p. 256.)
427.
D e t r o i t B a y C it y Sc A l p e n a . —Owns from Alger, on Michigan
D u l n t b Sc I r o n R a n g e . —Owns Duluth to Ely, Minn., 116 miles.
Central Railroad, to Alpena, 105 miles; Loon Lake Branch, 29 id1 ® Sold to a syndicate in 1887, and above mortgage was authorized at the
!® »
Mud Lake Branch. 21 miles; other branches, 77 miles; total road, 232 rate of $25,000 per mile for construction and $7,000 for equipment, the
miles. Has a traffic contract with Michigan Central. Stock authorized Metropolitan Trust Co. of N: Y. being trustee. There are also $3,500,000
is $2,000,000; issued, $1,670,000; par, $100. A dividend of 4 per cent of income certificates and the stock is $500,000. There is a land grant from
was paid January 3,1888, and of 2*2 per cent February 10,1891.
Minnesota of about 506,000 acres. SeeV. 51,p.875. TheMinn. Iron C
From Jan. 1 to July 31 (7 months), in 1891, gross earnings were owns the stock, the income certificates and $400,000 bonds. In 90 groe
$284,400, against $330,234 in 1890 ; net, $114,116 against $164,125. earnings were $1,114,678; net, $575,203; surplus over charges and im
In 1890 gross earnings, $523,037; net, $217,394; interest, $150,000. provements, $330,744. In 1889, gross, $1,019,988; net, $434,990;
dividend (2*8 per cent), $41,750; surplus, $25,644. In 1889 gross surplus over fixed charges, $209,482. H. R. Bishop, 15 Broad St.,N.
$487,209;net, $196,418. V. 50, p. 174, 735; V. 51, p. 113; Y. 52, p.320.) Y., President. (V. 50, p. 71; V. 51, p. 875.)
D u lu th R e d W i n g Sc Southern.—Projected from Duluth via
D e t r o i t G r a n d H a v e n Sc M i l w a u k e e . —Owns from Detroit
Mich., to Grand Haven, Mich., 189 miles. This is a reorganization of the Red Wing, Minn., and Sioux City, Iowa, to a point opposite Omaha, Neb.
Detroit & Milwaukee, which was sold in foreclosure September, 1878. Under construction from Red Wing southerly. Trustee of mortgage is
The bonds are guaranteed by the Grand Trunk of Canada, which m Central Trust Company. President of Company, F. W. Hoyt.
1889 offered its 4 per cent debenture stock in exchange for them, $500
D u l u t h S o u t h S h o r e Sc A t l a n t i c . —Operates Duluth to Sault
(£100) bond for £118 stock. Stock, $1,500,000; par, $50. Real estate Ste. Marie, 411 miles (of which 44 miles from Duluth to Iron River is
mortgages, $226,000.
aoc
used in common with Northern Pacific); “Soo” Junction to St. Ignace,
From Jan. 1 to May 31,1891 (5 mos.), gross earnings were £90,489, 43 miles; other lines, 135 miles; total, 589 miles. At Sault Ste. Mane
against £87,955 in 1890; net, £16,290, against £14,969. Gross earnings connection is made by bridge with the Canadian Pacific. Purchased at
in 1890, £232,772; net, £55,271; deficitunder interest, £16,891 (agamst iudicial sale October 20,1886, the Detroit Mackinac & Marquette Rail
£19,131 in 1889)—paid by Grand Trunk Ry. Co.
road and property. The Marquette Houghton & Ontonagon Railroad.
D e t r o i t H i l l s d a l e Sc S o u t h w e s t e r n . —Owns from Ypsilanti, 160 miles, was leased in perpetuity, but in 1890 the lease was rescinded
sold
Mich., to Bankers, Mich., 65 miles. The Detroit Hillsdale & Indiana and all the company’s property, except its franchise, givesto the Duluth
South Shore
debt and
new
road was sold in foreclosure Jan. 28,1875, and this company organized in exchange & Atlantic, which assumes its first mortgage, V. 45, consols
for its stock. See abstract of
P- 274.
by the bondholders. Leasedin perpetuity from July 1,1881, to the Lake
In July, 1888,
Duluth
Shore & Michigan Southern Co.; the rental is $54,000per year—4 per cent. lantic stock was a controlling interest in the parties. South Shore & At
sold to Canadian Pacific
Common stock is
P^er r ed stock
D e t r o i t L a n s i n g Sc N o r t h e r n . —Owns from Grand Trunk Junc $12,000,000; preferred, $10,000,000; par both $
tion, Mich., to Howard City, Mich., 157 miles; branches—Stanton Junc is 6 per cent, non-cuinulative. Car trusts August, 1890, $520,325 at 6
tion to Big Rapids, Mich., 63 miles; Belding Branch, 1^ miles; total per cent, due August, 1895.
■ ___,
. ,
' ' . .
___,
owned, 222 miles. Leases: Grand Trunk Junction to Detroit, 3 miles; v The first consolidated mortgage of 1890 has interest at 4 per cent,
Lansing to North Lansing, 1 mile; Saginaw & Western RR.—Alma to guaranteed by Canadian Pacific. The amount authorized by it is
Howard City, 43 miles; Grand Rapids Lansing & Detroit Railroad- $20.000,000 on the 580 miles now or hereafter owned, and $20,000 per
Grand Rapids to Grand Ledge, 53 miles, and branch, 2 miles; total, 323 mile of new lines in excess of 580 miles. Of this $20,000,000 there
miles; also operates Saginaw Valley & St. Louis, 45 miles, and pays were reserved $12,656,000 bonds to retire at or before maturity all the
interest on its debt, but reports earnings separately. The Detroit Lans prior bonds, $3,308,000 to exchange for Marquette Houghton & Onton
ing & Lake Michigan was foreclosed in 1876 and this company formed. agon stock and $3,342,000 to build 35 miles of road from Iron River
Dividends on common stock since 1879—In 1880,6; in 1883,6; in 1884, to a point 6 miles east of Superior, Wis., for terminals, to pay floating
6; in 1887, 3; in 1888 and 1889, nil. On preferred stock in 1879,9^ debt, etc. See V. 50, p. 874.
.
From January 1 to April 30,1891 (4 months), gross earnings on 571
per cent; from 1880 to 1884, inclusive, 7 per cent; in 1885, 5^; in 1886,
9
Ijig; in 1887, 7; in 1888, 3*3; in 1889 and since, nil. The sinking fund miles were $486,496, against $497,631 on 565 mfles in 1890.
In 1890 gross earnings were $2,241,097, net, $818,393. In 1889
holds $210,000 of the Detroit Lansing & Northern 7s and $20,000 of
gross, $1,976,350; net, $829,474. (V. 49, p. 21; V. 50, p. 622, 874.)
the Ionia & Lansing 5s given as outstanding in the table.
From January 1 to July 31, 1891 (7 months), gross earnings were
D u l u t h T r a n s f e r R a i l w a y C om p an y.—Projected from Duluth
$672.447, against $670,741 in 1890; net, $178,482, against $195,723; to West Duluth, Minn., 10 miles, with spurs to factories, etc., 40 miles.
interest, rentals, &c., $184,066, against $184,006; deficit, $5,524, In July. 1891, a mortgage was recorded for $2,000,000 to the Metropo
against surplus of $11,714.
litan Trust Co. of New York. This mortgage will enable the company
Report for 1890 was in Y. 52, p. 497.
to build boats and wharves, equip its lines, and furnish cheap terminal
INCOME ACCOUNT.
facilities to all railroads entering or desiring to enter Duluth. Stock
authorized, $2,000,000.
1890.
1888.
1889.
1887.
D u l u t h Sc W i n n i p e g . —Owns road completed from Cloquet on
$
$
$
$ _
1,219,663 St. Paul & Duluth (27 mUes, from City of Duluth) northwesterly, 85
1,041,800
1,131,986
Total gross earnings.1,147,160
392,797 miles. Extensions from Cloquet to New Duluth, 16 miles, and from
325,062
321,170
Net over exp. & taxes. 451,045
northwest end of track to Lake Winnibighoshish, under construction.
Disbursements —
331,774
318,633 North Star Construction Company of Baltimore is building the road.
310,546
Interest..................
From January 1 to August 31, 1891 (8 months), gross earnings on 81
87,850
Dividends*.............. 230,465
miles were $48,553, against $34,352 in 1890. (V. 53, p. 58, 368.)
def. 6,712 sur. 74,164
____ r surplus..... df. 53,117 def. 77,226
_
______
Balance, _ ^
D u n k i r k A l l e g h e n y V a l l e y Sc P ittsb u rg .—OwnsfromDunkirk,
In 18871 on pref. and 3 ^ on common ; in 1888 3^ on pref.
N Y to Titusville, Pa., 91 miles. A consolidation of the Dunkirk Warren
—(V.50,p. 244,483, 661,662, 801; V. 51, p. 20,171,279; V. 52,p. 497; & Pittsburg and Warren & Venango in 1872. Leased for 400 years from
1873 to N. Y. Central & Hudson River Co., but accounts are kept separate.
V. 53, p. 187.
D u b u q u e Sc S io u x City.—Owns from Dubuque, Iowa, to Iowa Rental is interest on bonds. Capital, $1,300,000; par, $100. The N.Y.
&
holds
In
Falls, 143 miles ; Iowa Falls to Sioux City, 184 miles; Manchester to C. g H. R. Co. - n +. $2,324,600 of the securities.1889. 1890 gross earn
9
Cedar Rapids, 42 miles : Onawa, Iowa, to Sioux Falls, Dakota, 155 miles; in «QiQ 3 /7 A *58.723. against $20.911 in
E a s t P e n n s y l v a n i a . —Owns double trackfrom Reading, Pa., to
Allentown, Pa., 36 miles. Leased for 999 years from May 1,1869, to the
Philadelphia & Reading RR. at a rental of 6 per cent per annum on the
stock and interest on the bonds. Austin Corbin, President, Philadelphia.
S e p t e m b e r , 1891.]
.R A I L R O A D
STO CKS
AND
BONDS.
53
S u b s c r ib e r s w i l l c o n fe r a g r e a t fa v o r b y g iv in g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d i n th e s e T a b le s .
B o n d s —Prinoi . RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, &e., see notes of
of
Par Outstanding Rate Per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Dividend.
Whom.
Cent. Payable
D u n k i r k Allegh. Val. & Pittsburg—1st mort., gold.c
2d and 3d mortgages ($200,000 only are 3d M.).c
East B r o a d Top —1st mortgage............................r
East Pennsylvania— Stock 6 p.c.gu.999 yrs.Phil. &R.
New 1st mortgage........................................ c*
East Shore T e r minal— 1st M. for $1,000,000, gold.c*
East Tennessee Virginia & Georgia— CommoiTstock.
90
90
30
36
36
1st preferred stock (5 per cent non-cumulative)..
2d preferred stock (5 per cent non-cumulative)..
Old IstM.s.f. (Bristol,Tenn.,viaChat.toDalton. Ga) 242
Cons.M.,divis’al,g., (Bristol,Tenn. ,toSelma, Ala.) c* 552
Ala. Cent.—1st M., Selma to Meridian, guar....... c
95
E. Tenn.Va. & Ga. consol. M., g. ($20,000,000) .c&r 1,083
lstext. M., g. ($20,000 p. m.).....................c&r 237
Impr. and equip, mort. for $6,000,000, gold.c&r 1,083
Cincinnati Extension Collateral Tr., guar., g. .c*
General mortgage for $15,000,000, gold___c&r
Knoxville & Ohio—1st mortgage, gold, guar..c*&r
66
East <& West Ala. —1st cons. M., g. ($15,000 p. m.) c* 119
Eastern (N. H . )— St’k, 4*2 P.c. ren’l till>1938,E. Mass.
16
94
Eel River —Stock, 2 (to 3) p. e., guar, by Wab. West.
Elgin Joliet <& Eastern —1st M. for $10,000,000 g..c* " 165
Ehsabeth Lex. < B i g S a n d y —IstM., g., s.f.,not dr.c* 110
6
E l m i r a Cortland & Northern —1st pref. M., gold, .c* 120
1st mortgage, gold......................................... 120
34
E l m i r a <6L a k e Ontario— Sodus Bay & So.—1st M., g.c
E l m i r a & Williamsport —St’k, com., 5p. o. ren’l, N.C.
76
76
Preferred stock, 7 p. c. rental, 999 yrs.,No. Cent.
76
1st mortgage................................................ r
Income bonds, 999 years to run....................c*
E m p i r e <6 Dublin —1st M., g. ($320,000) $8,000 p.m.
30
Erie <£ Pitts.—Stock, 7 p. c. rental,999 yrs.,PennCo.
85
Consol, mort. free of State tax (for $4,500,000). c
81
1870 $1,000
1872
1,000
1873
1,000
50
1888
1,000
1890
1,000
100
100
1870
1880
1879
1886
1887
1888
1890
1890
1885
1886
1897
1872
1884
1884
1884
I860
1863
1889
1868
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
100
1,000
1,000
1,000
1,000
1,000
50
50
1,000
500
1,000
50
1,000
E a s t T e n n e s s e e V i r g i n i a Sc G e o r g i a R a i l w a y . — (S e e M a p .)—
Owns: Bristol to Chattanooga, Tenn., 242 miles; Morristown to Unaka,
44 miles ; Cleveland to Selma, 264 miles; Selma to Lauderdale, 95 miles;
Elizabeth, Ala., to Akron, 53 miles; Rome, Ga., to Macon, 159 miles (18
miles jointly with Georgia Pacific); Macon to Brunswick, 190 miles;
branches to Savage Creek, &c., 78 miles; Rome to Attalla, Ga., 62miles;
total owned, 1,187 miles; trackage (Mobile & Ohio) Lauderdale to
Meridian. 18 miles; leases the Knoxville & Ohio Road, 66 miles, and
oontrols the Briarfleld Blockton & Birmingham Railroad, Birmingham
Junction to Blockton, and branch to Bessemer, 49 miles; total June
30,1891,1,320 miles; also controls the lines of the Memphis & Charles
ton Railroad from Chattanooga to Memphis, Tennessee, 310 miles, and
the Florence and Somerville branches, 20 miles; the Mobile & Birming
ham, 150 miles. Total East Tennessee Virginia & Georgia, 1,800 miles.
Also leases the Louisville Southern RR, 130 miles, and is interested
in the Erlanger roads; the Cincinnati New Orleans & Texas Pacific,
Cincinnati to Chattanooga, Tenn., 336 miles; the Alabama Great
Southern, Wauhatchie, Tenn., to Meridian and branch, 295 miles, etc.
Organization , E tc.—This road, the East Tennessee Virginia &
Georgia Railway, was formed in 1886 as successor of the East Ten
nessee Virginia & Georgia Railroad, which was sold in foreclosure
May 25, 1886. Control of the stock is supposed to be held in the inter
est of the Richmond Terminal, which itself held on November 30,1890,
$8,783,200 first preferred, $6,536,000 second preferred and $5,880,000
common, of this $8,283,200 first preferred and $4,225,000 second pre
ferred being pledged under its trust deeds.
The Knoxville & Ohio was leased for 99 years from 1889 and its
bonded interest guaranteed by the rental.
In April, 1890, acquired an interest in the Alabama Great Southern
system by purchase of stock. See Cincinnati New Orleans & Texas Pa
cific, also statement concerning Cincinnati Extension bonds below, and
V. 50. p. 560. In July, 1890. leased Louisville Southern for 99 years.
uaranteeing 5 per cent on bonds. (See V. 51, p. 51.) In Sept., 1891
ought control of the Chattanooga Union Belt RR., 45 miles in length’
Stocks and B onds.—-Both the first preferred and the second pref
erred stocks are entitled to a non-cumulative dividend of 5 per cent.
Dividends have been: On first preferred stock in 1887, 4 per cent; in
1888, 5; in 1889, 5; in 1890, 5.
Price of common stock—In 1886,11® 187 in 1887, 9*8®17; in 1888,
8;
8 ® ! ! 1 in 1889, 838®1H2; in 1890, 638®lli2; in 1891, to Sept. 18
*;;
inclusive, 5®8J
4.
Price of first preferred—In 1886,67®83°8; ml887,52®821 in 1888,
a;
55®83; in 1889, 63®76*2; in 1890, 55®81; in 1891, to Sept. 18 in
clusive, 42® 66.
Price of second preferred—In 1886, 24®35%; in 1887,18®32; in
1888.171
4®27is: in 1889. 20®25^4; in 1890,13^®27^4; in 1891, to
Sept. 18 inclusive, 97
8®19is.
Besides the bonds of the Knoxville & Ohio in the table above the com
pany guarantees $3,000,000 Mobile & Birmingham 5 per cents and
$5,000,000 Louisville Southern 5 per cents—see those companies.
The trustee under the consolidated mortgage of 1886 and the first
extension mortgage of 1887 is the Central Trust Company of New York;
$7,325,000 consolidated bonds were reserved to retire prior bonds of
the Alabama Central RR. and the East Tennessee Virginia <eGeorgia.
t
The Cincinnati Extension bonds of 1890 were issued jointly by this
company and the Richmond & Danville, and are guaranteed, principal
and interest by the Richmond & West Point Terminal. They are further
secured by a deposit of £340,000 6 per cent preferred A shares and
£783,010 ordinary B shares of the Alabama Great Southern. There is
also to be deposited for them $500,100 stock of the Cincinnati New Or
leans & Texas Pacific, and pending such deposit $500,000 in cash. See
abstract of mortgage in V. 52, p. 83.
The general mortgage of 1890 for $15,000,000 was to be used in
building branches, double tracking, and retiring $4,470,000 extension
bonds of 1887, whole issue not to exceed $20,000 per mile.
E arnings, «fee.—From July 1,1891, to July 31,1891 (1 month) gross
earnings were $545,991, against $613,010 in 1890; net, $152,874,
against $187,822.
The fiscal year ends June 30. The annual report for 1889-90 was in
full in the Chronicle, V. 51, p. 607, 610, and a review of operations for
year in V. 51, p. 290. The results as given below include the operations
of the Knoxville & Ohio in 1890-91 only. In 1889-90 that company had
net earnings of $208,913 and a deficit under charges of $48,545.
f
INCOME ACCOUNT.
1887-88. .
Av’ge miles operated. 1,032
1888-89.
1,067
1889-90.
1,100
1890-91.
1,271
Gross earnings..... ..5,109,918
Operating expenses..3,266,538
5,301,624
3,374,666
6,412,078
4,175,993
7,438,831
4,889,379
Net earnings..... 1,843,380
Total net income..... 1,850,536
1,926,958
1,943,714
2,236,085
2,288,772
2,549,452
Interest on debt.......1,086,993
Taxes, etc............. :. 142,856
Div. on 1st pref. st’k(5) 550,000
1,223,852
152,719
(5) 550,000
1,404,743
162,845
(5) 550,000
Disbursements—
Balance
70,687
17,143
171,184
.........
—(V. 50, p. 71, 276, 437-, 452, 519, 560, 662, 703, 834, 904; V. 51, p. 51,
276, 290, 607, 610, 721, 829; V. 52, p. 80, 83, 831, 902; V. 53, p. 407.)
$2,000,000
7 g. J. & D. N. Y., N. Y. Cent.& Hud.
do
do
900,000
7
A. & 0.
500,000
4
J. & J. Jan., 1885, last paid.
1,714,950
3
J. & J. Phil., Phil. & Read. RR.
do
do
495,000
4 g- M. & S.
New York.
(Î)
5 g- F. & A.
27,500,000
11,000,000
Office, 80 Broadway.
5
18,500,000
3,123,000
J. & J. N. Y., Chase Nat. Bank.
*7*
do
do
3,106,000
5 g. J. & J.
do
do
1,000,000
6 g. J. & J.
do
do
12,770,000
5 g. M. & N.
do
do
4,740,000
5 g. J. & D.
do
do
5,500,000
5 g. M. & S.
do
do
6,000,000
5 g. F. & A.
do
do
720,000
5 g. J. & D.
do
do
2,000,000
6 g. J. & J.
1,725,000
6 g. J. & D. Last paid Dec., 1887.
750,000 See rein. J. & D. Boston, by Treasurer.
1
A. & O. Boston, by Treasurer.
3,000,000
5,479,000
5 g. M. & N. N. Y., Drexel, M. & Co.
3,282,000
6 g. M. & S. N. Ÿ., Mills Building.
750,000
6 g. A. & O. N. Y., 192 Broadway.
do
do
1,250,000
5 g- A. & 0.
500,000
5 g. J. & J. N. Y., Nat. Bank Com.
2^2 M. & N. Phila., Penn. RR. Co.
500,000
do
do
500,000
3*2 J. & J.
do
do
6
J. & J.
1,000,000
A. & O.
do
do
570,000
5
240,000
6 g. J. & J.
Q.—M. N. Y., Union Trust Co.
1,998,400
1%
do
do
7
J. & J.
2,109,000
June 1, 1900
Oct. 1, 1900
July 1, 1903
July, 1891
Mch. 1, 1958
Aug. 1, 1915
Dec. 15,1890
July 1, 1900
July 1, 1930
July 1, 1918
Nov. 1, 1956
June 1, 1937
Sept. 1, 1938
Feb. 1, 1940
Dec. 1, 1940
July 1, 1925
Dec. 1, 1926
June, 1891
Oct. 5, 1891
Nov. 1, 1941
Mch. 1, 1902
Apr. 1, 1914
Apr. 1, 1914
July 1, 1924
May 1, 1891
July 1, 1891
Jah. 1, 1910
Oct. 1, 2862
Jan. 1, 1919
Sept., 1891
July 1, 1898
E a s t Sc W e s t R a i l r o a d o f A l a b a m a . —Owns Cartersville, Ga
to Pell City, Ala., 117 miles; branch, 2 miles. The bonds issued in 1887
retired $800,000 of prior 1st mortgage bonds and $500,000 of deben
tures outstanding. Stock (authorized), $2,000,000 (par $100), issued at
$10,000 per mile of completed road. Chas. P. Ball, Cartersville, Ga.,
Receiver, was authorized to issue $650,000 certificates to put the road
in thorough repair. See V. 48, p. 189. Gauge changed to standard in
1890. Litigation is pending and no interest, it is said, has been paid
on receiver’s certificates. In year ending June 30,1890, gross earnings
were $112,462; net, $13,014. E. Kelly, President, New York.
E a s t e r n ( m a s s . )—See Boston & Maine.
E a s t e r n (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
October 1,1878, for 60 years and 2 months at $22,500 per year, equal
to 4*2 per cent per annum. In June, 1891, a stock dividend o f 50
per cent was paid, increasing the stock to $750,000. It is said that
this increase in capital will only warrant a dividend of 3 per cent,
unless the lease is changed, which is probable, as the directors have
been authorized to arrange for a union with the Boston & Maine Rail
road Company. M. Currier, President, Manchester, N. H. (V. 52, p.
939.)
E e l R i v 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. Leased for 99 years from April 1,1887, re
newable forever, to Wabash Western, on the basis of 2 per cent yearly
on the stock till April, 1892, then 2*2 till 1895 and 3 per cent thereafter.
E l g i n J o l i e t Sc E a s t e r n . — (See M a p ) — Owns from Waukegan 1 1
1 .,
(two miles east of Elgin), via Spaulding and Joliet, to McCool, Ind.,
123miles, and branches Aurora to Normantown, 9 miles—Walker to Cos
ter, 1 1
1 .—32 miles; total, 164 miles. This is a belt line on a large scale,
crossing, or intended to cross, at a distance of about 30 miles from
Chicago, all the roads approaching that city, and affording facilities for
transfer of freight from one line to another without breaking bulk.
Also reaches the coal fields of Grundy County. The first mortgage
(trustees Central Trust Company and J. W. Butler) provides for $10,000,000 bonds, of which the balance unissued can be disposed of only
on vote of a majority of the stockholders for extensions, betterments,
real estate, etc.
From January 1 to June 30 (6 months) in 1891 gross earnings were
$311,572, against $271,773 in 1890; net, $108,072, against $94,759.
In 1890 gross earnings were $591,523; net, $206,546. In 1889 gross
were $296,472; net, $60,901. President, Samuel Spencer, New York.
—(V. 52, p. 350.)
E l i z a b e t h t o w n L e x i n g t o n Sc R i g S a n d y . — Operates from
Huntington, West Va., to Lexington, Ky., 139 miles, of which from
Ashland to Straits Creek Junction, 21 miles, and from Huntington to
Big Sandy River, 9 miles, are leased. From February 1,1886, this road
was leased for 250 years to the Newport News & Mississippi Valley
Company on the basis of the annual net surplus, if any, being paid to
this company. Stock, $3,510,700 (par $100), of which the Newport News
& Mississippi Valley Company on January 1, 1891, owned $1,055,500.
There are also $489,520 certificates of indebtedness. Sinking fund is
$25,000 yearly, but no bonds drawn.
From January 1 to June 30, 1891 (6 months), gross earnings were
$337,274, against $367,997; net, $77,945, against $141,331 in 1890.
Annnal report for 1890 was in V. 52, p. 497. For year 1890 gross
earnings were $816,329; net, $313,044; surplus over fixed charges,
$42,793. In 1889 gross earnings were $815,830; net, $282,239; surplus
over rentals and interest, $12,382. (V. 52, p. 497; V. 53, p. 408.)
E l m i r a C o r t l a n d Sc N o r t h e r n . —Owns Elmira, N. Y., to Canastota, N. Y., 119 miles, and leases during corporate existence, Canastota
Northern Railroad, Canastota to Camden. N. Y., 21 miles. Sold in fore
closure in 1878 and again in February, 1884, and reorganized as at
present.. Stock is $2,000,000; par, $100. In year ending June 30,
1891, gross earnings were $463,452; net, $115,171'; interest on preferred
mortgage, etc., $46,400; rentals, etc., $18,000; surplus, $50,771. In
1889-90 gross $480,416. Austin Corbin, President, New York City.
E l m i r a Sc L a k e O n t a r i o . —Owns from Canandaigua, N. Y., to
Chemung Junction, 64 miles; Sodus Point to Stanley, 34 miles; other 2
—total, 100 miles. A consolidation in December, 1886, of the Elmira
Jefferson & Canandaigua, the Sodus Bay & Southern and the Chemung
railroads. It is leased at cost of operating to the Northern Central,
which owns $1,499,600 of the $1,500,000 stock and $226,000 Sodus Bay
bonds, including $84,000 in insurance fund. Lease may be termi
nated on thirty days’ notice from either party. In 1890 the gross
earnings were $733,447; deficit under operating expenses and taxes,
$25,512; deficit under charges, $54,350, payable by lessee. In 1889
gross, $630,449; deficit under operating expenses, $48,996.
E l m i r a Sc W i l l i a m s p o r t . —Owns from Williamsport, Pa., to El
mira, N. Y., 76 miles. This company was reorganized under the pres
ent name February 29,1860, and leased to the Northern Central Rail
way for 999 years from May 1,1863, at a rental of $151,500 per annum
after January 1,1880. The dividends on the common stock are 5 per
cent and on the preferred 7 per cent. Gross earnings in 1889, $841,404;
net, $187,644; surplus, $14,408. Gross earnings in 1890, $913,682
net, $148,084; rental, etc., $182,293; loss to lessee, $34,208.
IN V E S T O R S ’
SUPPLEM ENT.
[V ol. l i i i .
S e p t e m b e r , 1891.]
K A IL R O A D
STOCKS
ART)
BONDS.
a s
S u b s c r i b e r s w i l l c o n f e r a g r e a t f a v o r b y g i v i n g i m m e d i a t e n o t i c e o f a n y e r r o r d i s c o v e r e d J in t b e s e T a b l e s .
B o n d s — Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,^When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Dividend.
Cent. Payable
Whom.
Erie & Pittsburg.—( C o n .)—Equipment bonds..... .c
General mort. for $4,500,000 series A, g., guar...
E u r e k a Springs— 1st mortgage, gold................ c
2d mort. income bonds................. ...................
E u r o p e a n <6 North Am.—Stock 5 p. c. rental, M. C..
Evansville <6 Indianapolis —T. H. & Southe.lst M.c*
Evansville & Indianapolis 1st mortgage, gold..c*
Consol, mortgage (for$2,500.000) gold, guar.c*
Evansville <£ Terre H a u t e —Stock......... ................
1st consolidated mortgage, gold......... ...........c*
Mt. Vernon Branch 1st mort. g. ($15,000 p. m.).C*
Sullivan County Coal branch 1st mort. gold___c*
Evans. &Rich. IstM. W est Div. ,for$l,000,000 gu. c*
do Eastern Division. 1st M. for $l,000,000.c*
Evansville Terre H . <£ Chic.—1st M., g.,int. guar..c*
2d mortgage, gold.................................. f .. .c*
Incomes........................................................
Farmville <6 P o w h a t a n —1st mort. for $320,000___‘
Second mortgage for $500,000, incomes.............
Fin d l a y Ft. W a y n e <& West.—lstM.,g.,$18,000p.m.c*
Fitchburg —Common stock......... ........................
Pref. 4 per cent stock, non-cum........................
Bonds, $500,000 are 6s, due Oct. 1,1897......... c
Bonds,$500,000 yr’ly,’99tol903 incl., bal.l908.c*
Bonds................. ....... ........... ...... ................
Bonds to State of Mass. (3 p. c. int. till 1892).....
Bonds................
...c&r
Bonds........................................... :.. .. .._____
Bonds ($1,500,000 due 1907, interest A. & O)___
Bonds............ ..............
c
Boston Barre & Gardner 1st M., $91,300 are 7s..
2d&3dmorts.,$186,300of 3p.cts. are 2d mort..
Troy & Boston 1st mortgage, consolidated.........
81
81
19
Ï14
40
54
135
144
25
30
100
55
55
80
1870 $1,000
1890
1,000
1883
1,000
1883
500
100
1879
1,000
1884
1,000
1886
1,000
50
1881
1,000
1883
1,000
1890
1,000
1888
1,000
1890
1,000
1870
1,000
1872
1,000
1881
1890
1,000
$511,000
7
A. & O. N. Y., Union Trust Co.
775,000
4 g. J. & J.
do
do
500,000
6 g. F. & A. N. Y., Mercantile Tr. Co.
500,000
4
Feb’y 1.
do
do
2,500,000
213 A. & O. Bangor, Treas. Office.
260,000
M. & S. N. Y., Farm. L. & Tr. Co.
7
697,000
do
do
6 g. J. & J.
1,582,000
do
do
6 g. J. & J.
3,000,000 See rem. Q.—J. N. Y., Farm. L. & Tr. Co.
3,000,000
do
do
6 g. J. & J.
375,000
do
do
6 g. A. & O.
450,000
do
do
5 g- A. & 0.
1,000,000
do
do
5 g. M. & S.
New York City.
5 g. M. & S.
(?
)
775,000
6 g- M. & N. N. Y., Farm. L. & Tr. Co.
325,000
6 g. J. & J.
do
do
150,000
6
M. & N.
do
do
6
(?
)
100
7,000,000
100 16^497,600
’74&’7 1,000 j l , 000,000
’80-’88 1,000 ^,500,000
.
1889
750,000
1887
5,000,000
1887
1,000
2,250,000
1,000
1890
390,000
’84-’87 1,000
2,500,000
1890
1,000
500,000
391,000
38Î2 1873 100 &c.
1875
243,600
1,000
35 1874
577,000
E m p i r e Sc D u b l i n . —Hawkinsville, Ga., to Dublin, 40 miles; com
pleted, 32 miles, crossing East Tennessee Virginia & Georgia at Empire,
Dodge County. Interest on bonds guaranteed till July, 1893, by Empire
Lumber Company. In December, 1890, Judge Roberts was made re
ceiver. Stock, $320,000—par, $100.
From July lt o November 30,1890 (5 months), gross earnings were
$16,422, against $6,627 in 1889; net, $8,653, against $3,315. In year
1889-90, gross, $25,088; net, $13,352; interest, $6,320; surplus, $7,032.
E r i e & * 9 M tts b u r g .—Owns New Castle, Pa., to Girard, Pa., 82 miles;
branch. Dock Junction to Erie Docks, three miles; trackage (Lake
Shore & Michigan Southern); Girard to Erie, 17 miles; total operated,
101 miles. Road opened m 1865. It was leased to the Pennsylvania
Railroad for 999 years from March 1,1870, at a rental of 7 per cent on
stock and interest on the bonds, and the lease was transferred to the
Pennsylvania Company.
In October, 1890, a new mortgage for
$4,500,000 was executed, $3,262,000 being reserved to retire prior
bonds and the balance for improvements, &c. The lease has been
■quite unprofitable to the lessees, the deficiency paid bv them in 1884
being $307,841; in 1885, $354,633; in 1886, $225,794;'in 1887, $287,•306 in 1888, $211,063; in 1889. $290,734; in 1890, $267,705.
E u r e k a S p r i n g s .—Seligman, Mo., to Eureka Springs, Ark., lS 1
^
miles; projected to Harrison, Ark., 50 miles beyond. Stock, $500,000;
par, $100. There is a traffic contract with St. Louis & San Francisco.
In calendar year 1890 gross earnings, $75,098; net, $40,080; interest,
$30,000; surplus $10,080.
E u r o p e a n dc N o r t h A m e r i c a n . —Owns from Bangor, Me., to
Vanceboro (State Line), Me., 114 miles. On August 31,1882, a lease
was made to the Maine Central for 99 years for $125,000 per annum,
equal to 5 per cent per annum on the stock, and assuming the bonded
debt of $1,000,000 which is given under Maine Central.
5 g. J. & J. N. Y., Washington Tr.
1*2
6&7
5
5
3 to 4
4J
a
5
4
4
5& 7
3 &6
7
A. & 0.
Various
M. & 8.
F. & A.
M. & S.
J. & D.
Various
J. & D.
A. & O.
J. & J.
J. & J.
Boston, Office.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Oct. 1, 1900
July 1, 1940
Feb. 1, 1933
Feb. 1, 1933
Oct. 15,1891
Sept. 1, 1909
July 1, 1924
Jari. 1, 1926
July 28,1891
July 1, 1921
Apr. 1, 1923
Apr. 1, 1930
Sept. 1, 1928
Sept. 1, 1930
May 1, 1900
Jan. 1, 1900
May 1, 1920
July 1, 1940
July 15,1891
Ap.’94&0c.’97
Var.’99tol908
Mch. 1, 1899
Feb. 1, 1937
Sept. 1, 1897
June 1, 1900
1904^5-7
June 1, 1920
Apr. 1, 1893
July 1, 1895
July 1, 1924
E v a n s v i l l e T e r r e H a u t e Sc C h i c a g o . —Owns from Terre Haute
Junction, Ind., to Danville, 1 1 49 miles; leases 6 miles; total operated,
1 .,
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
Api;il 30,1880, a lease to the Chicago & Eastern Illinois was made for
999 years; terms. $75,000 per annum and the assumption by the Chi
cago '& Eastern Illinois of all rentals and taxes paid by Evansville Terre
Haute & Chicago. Majority of the stock is owned by Chicago & Eastern
Illinois. (Y. 48, p. 827.)
F a r m v l l l e Sc P o w h a t a n . —Owns from Bermuda Hundred, Va.,
to Farmville, 89 miles, and branch to Eppes’ Falls, 8 miles; total 97
miles. Completed March 3,1890. Stock authorized: Common, $500,000; preferred, $500,000; par, $100.
F i n d l a y F o r t W a y n e Sc W e s t e r n , —Owns road completed in
August, 1891, from Findlay, O., to Evansville, O., on the Toledo St.
Louis & Kansas City RR., 36 miles, and projected from Evansville
west to Fort Wayne, Ind., 44 miles. Successor to the American Midland
sold in foreclosure in June, 1890. Trustees of mortgage are Wash
ington Trust Company of New York and Allen Zollars of Fort Wayne.
Stock authorized, $18,000 per mile; outstanding $324,000; par $100.
F i t c h b u r g . —Owns from Boston, Mass., to Fitchburg, Mass.. 50
miles; Greenfield to Troy, N. Y. 85 miles; Vermont to Rotterdam Junc
tion, 61 miles; Boston Barre & Gardner Railroad, Worcester to Winchendon, 36 miles; South Ashbumham, Mass., to Bellows Falls, Vt.)*
54 miles; branches, 71 miles; Monadnock Railroad, 16 miles; total
owned, 372 miles; leases and operates—Vermont & Massachusetts Rail
road, Fitchburg to Greenfield, 56 miles; other, 8 miles; total leased,
64 miles; total June 30,1891,436 miles, of which 155 miles double
E v a n s v i l l e dc I n d i a n a p o l i s . — (See M a p Evansville <6 Terre Haute) track.
In 1887 the Fitchburg Railroad Company consolidated with the Troy
—Owns Evansville to Terre Haute, Ind. (via Worthington), 135 miles;
branch 6 miles; leases branch to Brazil, 12 miles; total 153 miles. A & Greenfield and the Hoosac Tunnel railroads and purchased the Troy
consolidation in October, 1885, of three corporations, viz.: the Evans & Boston; and on October 1,1890, it consolidated with the Cheshire
ville & Indianapolis, the Evansville Washington & Brazil and the Terre Railroad. The Southern Vermont, 8 miles, was purchased in January,
Haute & Southeastern RRs. Of the consolidated mortgage bonds, 1891, for $175,000 of 4 per cent bonds.
The State of Massachusetts owns $5,000,000 of the common stock.
$800,000 are reserved to meet prior liens. The consolidated bonds are
guaranteed by the Evansville & Terre Haute Co., which owns entire The preferred stock is entitled to 4 per cent dividends, then common
capital stock, $2,000,000, as also $547,000 of the other securities. and preferred share equally. The Troy & Boston issue of preferred
From January 1,1891, to August 31,1891 (8 months), gross earnings stock has been retired.
The holders of the Troy & Boston 7 per cent bonds for $1,200,were $220,764, against $191,679 in 1889-90.
In year ending June 30, 1891, gross earnings were $326,186. In 000, due July 1,1924, refused to came into consolidation agreement, and
in December, 1890, the New York Court of Appeals, sustaining the posi
188990 gross $314,660; net, $130,765; deficit after interest, rentals
tion of the bondholders, held that the Fitchburg was liable for the prin
and taxes, $28,582. (V. 50 p. 107, 525.)
full interest
the
The
E v a n s v i l l e dc T e r r e H a u t e . — (See M a p .)—Owns from Evansville cipal and. has acquired ofpart Troy & Boston bonds. and Fitchburg
Company
a
of this
bonds,
only
to Terre Haute, Ind., 109 miles; Fort Branch to Mt. Vernon, 38 miles; $577,000 are outstanding in the hands issue of public. See now53, p.
of the
V.
Sullivan County coal branch, Farmersburg to New Pittsburg, Ind., and 405. There are also outstanding $48,000 Monadnock Railroad 5 per
extensions, 30 miles. Proprietary Lines—Evansville Belt Railway, 10 cent bonds due July 1,1897; a 4 per cent mortgage note of the H. T. D.
miles; Evansville & Indian apolis (which see), 141 miles, and leased & E.
line 12 miles; Evansville & Richmond RE., Elnora to Westport, 102 loansCo. for $500,000 due April 5,1892. On July 1,1891, there were
and bills payable amounting to $675,000.
miles; total operated, 442 miles. Has under construction, Evansville
1872, 2 per cent; in 1888,
.& Richmond eastern division, Seymour to Richmond 65 miles. The 2;Dividends on preferred stock have been: In in 1891, Jan., 2 percent;
in 1889, nil; in 1890, July, 2 per cent;
Rockville Extension, 23 miles additional, is leased to the Terre Haute July, l ^ per cent.
.& Logansport and Chicago & Eastern Illinois for $12,000 yearly.
Fiscal year
end June 30.
Evansville & Terre Haute RR. was formerly the Evansville & Craw- was in C h r ochanged to53, p. 405. ItThe annual report for 1890-91
n c l e V.
states that “ the increase in
fordsville Railroad. The Evansville & Richmond bonds are endorsed expenditures is iprincipally in conductingtransportation. Thecostoffuel
with a guaranty of principal and interest. In 1890 a ten-year traffic
about $87,000, due in part
in
contract was made with the Chicago & Eastern Illinois. There are also for locomotives increasedwater during the winter andto the advance in
that received by
in part to the
$30,000 Evansville & Chicago Railroad consols. Dividends since 1880 price of amount consumed. The large increase in payments for freight
—In 1881, 4 ^ per cent; in 1884, 5; in 1885, 3; in 1886, 4; from 1887 creased
by the condition of
t© 1890, inclusive, 5 per cent per annum; in 1891, January, 1*2 per car mileage, about $81,000, was causedduring the latter part traffic.
Cars
not in demand on
of
cent; April, 1*2; July, 2. A distribution of stock was announced year, wereour own cars were foreign roads were paying for the usethe
and
idle while we
in June, 1891, but subsequently in lieu of this the quarterly dividend others that came to us loaded with freight from the West. The cost of
of
was increased to 2 per cent. See V. 52, p. 939. Owns entire stock removing snow and ice was $21,000 greater than the previous year.”
of Evansville & Indianapolis, which see.
In the .following the figures for 1887-8 are for the year ending Septem
From July 1,1891, to August 31,1891 (2 months), gross earnings on ber 30; all others for years ending June 30.
159 miles were $234,496, against $206,905 in 1889-90.
Fiscal year now ends June 30. Last report in V. 51, p. 908. In year
INCO M E ACCOUNT.
1890- 91 approximate gross earnings were $1,108,019.
1889-90. 1890-91.
1887-88..
1888-89.
E A R N IN G S AND C H A R G E S.
369
369
369
436
„ - ,
1888-89.
1889-90. Total miles operated.
Total miles operated......................................
156 •
159
$
$
$
$
Total gross earnings..... 5,463,298 5,747,985 6,259,533 6,851,002
$
Op. expenses and taxes.. 4,196,605 4,390,792 4,525,605 5,133,465
Gross earnings...................................
876,791
983,917
JNet earnings........................
540,575
516,845
Net earnings............ 1,266,693 1,357,193 1,733,928 1,717,537
■Other income............................................................
38,490
Per cti of op. ex. to earns.
(excluding taxes)......................
73-80
69-74
71-78
Total...........................................
440,575
555,335
Deduct—
Th.nh'ii'r'QFmpn/ _
©
interest on debt............. . .. ........... ...............
204,300 Rentals paid.................
281,280
281,280
271,98© 274,980
Dividends............ ....................................... .
150,000 Interest on debt............
680,388
762,806
799,153 869,068
Taxes.........................................................
30,023 Other interest..............
58,715
27,875
8,264
20,216
Dividends....................
261,836
.........
261,835
562,749
384,323
Total disbursements.. 1,282,219 1,071,961 1,341,232 1,727,012
Balance, s u r p l u s ........................... ..............
171,012
285,232
392,696 def. 9,475
The total balance to credit of inoome Jnne 30,1890, was $3,234,952. Balance, surplus...........def. 15,526
— (V. 49, p.615 ; V. 50, p. 107, 174; V. 51, p. 51, 908 ; V. 52, p. 762, —(V. 50, p. 36,174,207, 560, 833; V. 51, p. 84,171,206,276,414, 609
"795, 831.)
777; V. 52, p. 322, 608, 718, 795 ; V. 53, p. 256, 405.)
56
IN V E S T O R S ’
[Voi* LUI.
SUPPLEM ENT.
M AP
OP TH E
ELGIN, JOLIET
AND
EASTERN RAILWAY
C H IC A G O
OUTER
B E L T LINE
CONNECTING ALL RAILROADS
CENTERING AT CHICAGO.
Septem ber,
1891.J
K A IL R O A D
STOCKS
AND
BONDS,
57
MAP OP THE
EVANSVILLE & TERRE HAUTE R. R.
EVANSVILLE & INDIANAPOLIS R. R.
EVANSVILLE & RICHMOND R. R.
EVANSVILLE BELT RAILWAY.
PEORIA, DECATUR & EVANSVILLE RY.
Louisville, Evansville & St. Louis Consolidated.
IN V E S T O R S ’
58
SUPPLEM ENT.
[Y ol.
LIU.
Subscribers w i l l confer a great fa v o r by g iv in g Im m ediate notice o f an y e rro r discovered In these T ables.
-----------------------------------------'
’
'ffdndtf-^Priiioi]
INTEREST C
RAILROADS.
pal,When DueAmount Rate per When \
Stocks—Last
Par
of
of
For explanation of column headings, &c., see notes
Outstandingj Cent. Payable
Whom.
Dividend.
Road. Bonds Value.
on first page of tables.
,
Boston Hoosac Tunnel & Western debentures...
Cheshire RR. bonds, not M.,$550,000 due 1898. e
Flint <& Pere Marquette —Common stock ($3,500,000.
Pref. stock, non-cumulative1V nlnV - ---r A W /
(for $6,500,000).....
_ _
_
7 n tr____ _ -t „i. 1
P1 »/I T 1
1
Fitchburg . (Concluded.)
—
Consol. M., g. (for $10,000,000) $20,000p. m.-C”
Port Huron & Northwestern—1st mortgage.....(
1st M.on Port. Huron Div., gold,for $3,500,000. c
Equipm’t bonds, $40,000 due annually Nov. l.c ’
Florida Central <& Pen. —1st M. gold, $5,240 p. m.o’
Extension mort., gold, $5,226 per mile— -----F o n d a Johnstown ¿ Gloversville—lstM.,s.f.,notdn.c
3
Fort W a y n e <6 Jackson —Common stock................
Pref. stock (8 p. c.), 5^ p. e. rental Lake Shore..
Fort Wor t h & Denv. City— 1st M., g., $18,000 p. m.c*
Pan Handle RR. 1st mortgage........................
Fort Worth <k Bio Or.— 1st M., gold, $20,000 p. m.o*
Galveston Harrisb. & S. Antonio —1st M.,g.,land gr.o
2d mortgage, Harrisb. and Houston to San Ant.o*
West. Di v. 1st M., g., SanA.to ElPaso,636 m. &br.c*
2d mortgage (see remarks)— .... ----.......- c *
Galveston Hou s t o n <6 Hend. of 1882—1st M., guar..C
Georgia Oar. <6 North. —IstM., g. (not drn.) guar..c *
*
\
*
r|
rl
1883 $1,000 $1,4 00,000
’76-’78 500 &c.
800,000
100
3,298,200
100
6,342,000
1,000
1871
1,000,000
1,000
1880
3,999,000
1889
1,000
1,500,000
1879
104,000
1889
1,000
2,976,000
1,000
1887
280,000
1,000
3,000,000
575 1888
1,000
54 1890
285,000
10 1870 100 &c.
300,000
200,000
26 1881 100 &c.
100
436,132
98
100
2,291,416
98
1,000
7,963,000
450 1881
225,000
1,000
145 1888
2,787,000
’71-’80 1,000
4,756,000
1,000
1,000,000
225 1880
1,000 13,418,000
671 1881
1,000
6,354,000
671 1881
1,000
2,000,000
50 1883
1,000
5,360,000
268 1889
1,000
1887
4,000,000
1,000
1,494,000
99 1886
1,000
5,663,900
566 1882
5,097,500
566 1888 500 &c
5,097,500
566 1888 500 &c
1,000
1889
2,000,000
—
1,000
1891
(1
)
625
625
65
285
384
218
241
'Flint 8c P e re M arquette.—f See M a p .)—Owns from Monroe, Mich.,
to Ludington, Mich., 253 miles; 11 branches to East Saginaw, Fostoria,
etc., 133 miles; Port Huron to East Saginaw, 90 miles; Port Huron to
Snnd Beach (3 feet) 70 miles; Palm to Port Austin (3 feet), 35 miles;
Port Auron to Altmont (3 feet), 34 miles; Zion to Yale (3 feet) 12 miles:
total onerated, 627 miles, of which 151 are 3 feet gauge.
Sold August 18,1880, under the consolidated mortgage, and reorgan
ized In 1889 consolidated with certain branohes (see V. 48, p. 222) and
absorbed Port Huron & Northwestern (see Y. 48, P- 260),
consoh
dated mortgage of 1939 is a first mortgage on 98 miles of road, irus
Net earnings......
Interest on debt.......
Dividends..............
881,166
757,654
756,650
746,836
329,194
422,500
332,939
449,470
M. •& S. N. Y., Kountze Bros.
J. £ J. I
Sept. 1, 1913
July l , ’96-’98
iia
8
6 g.
5 g.
7
5 g5
5 g.
5 g.
7
6
F. & A. 3
J. & J. ]
A. & O.
M. & N.
a. & 0.:
A. & O.
M. & N.
J. & J.
J. & J.
J. & J.
A. & O.
Aug. 15,1891
Jan. 1, 1901
Oct. 1, 192a
May 1, 1939
Oct. 1, 1899
Apr. 1, 1939
Nov.l,’91to’97
July 1, 1918
Jan. 1, 1930
July 1, 1900
Apr. 1, 1921
6 g.
5
5 g.
6 g.
7
5 g6
5
5 g5 g.
6 g6
5 g.
5 g.
5 g.
6 g.
M. & S.
J. & D.
Boston.
J. & J.
J. & J.
F. & A.
do
do
J. & D.
do
do
M. & N.
J. & J.
A. & O. N. Y., Mercantile Tr. Co,
J. & J. N. Y. jMerc.Tr.Co. & Balt
J. & J. N. Y., 4th Nat. Bank.
J. & J. N. Y., Central Trust Co
J. & J. N. Y., 4th Nat. Bank,
do
do
A. & O.
do
do
A. & O.
do
do
F. & A.
do
do
M. & N.
do
do
do
do
do
., St,
do
do
Nat
do
Sept. 2, 1891
Dec. 1, 1921
July 1, 1929
July 1, 1928
Feb. 1, 1910
June 1, 1905
May 1, 1931
July 1, 1931
Apr. 1, 1913
July 1, 1929
July 1, 1937
July 1, 1926
Jan. 1, 1922
Oct. 1, 1923
Oct. 1, 1923
Aug. 1, 1904
May,’92-1906
From January 1 to Aug. 31,1891 (8 months), gross earnings on 113
miles were $151,530, against $88,967 on 90 miles in 1890.
In 1890, road being under construction, gross earnings were $194,638; net, $91,238; fixed charges, $89,203; surplus, $2,035.-(V. 51,p.
569, 680; V. 52, p. 81, 351, 642.)
dividends oif preferred stock since 1880—In l8 8 1, 2^ percent; in
1882,6; in 1883 and 1884, 7; in lS SS.S^; m 1886, 4*2; m 1887, 5^,
in 1888, 7 and 5 extra; in 1889, 6 ^ ; in 1890, February 15, 3 per cent;
August, 3 per cent; in 1891, Feb., 2 per cent; Aug. 15,1*2.
From January 1 to July 31, 1891 (7 months), gross earnings were
$1,686,200, against $1,746,337 in 1890;. net, $434,502, against $485,482 -.interest, rentals, etc., $331,208, against $313,821; surplus, $103,
294, against $171,660. Mileage, 627 miles in both years.
Annual report for 1890 in V. 52, p. 760. In the statement below the
Port Huron Division is included only in 1890.
1890.
1889.
1888.
1887.
$
$
$
2,923,575
Total gross earnings.2,572,937 2,403,074 2,370,133
2,042,409
Oper’ng exp. & taxes.1,815,283 1,646,424 1,623,297
558,104
366,421
380,520 (5 p.c.) 317,100
Deduct —
5
6
875,204
746,941
782,409
Total disbursem’nts 751,694
sur. 5,962
def. 105
def.
xsaiaiice xor wie y caii .out.
v v .. 25,759
nu
w
--------7
_ixr 47 u 441, 625; V. 48, p. 221, 462, 555$ 633, 855; IV. 50, p. 421»
560,'621s 662, 833; V. 51, p. 51, 240,494,569; V. 52, p. 350, 428, 760).
G alveston H a r r is b u r g 8c San A n to n io .—(See M a p of Southern
Pacific.)—Owns from Houston, Tex., to San Antonio, Tex., 217 miles;
LaGrange Extension, 28 miles; branch, 8 miles; leases 12 miles; total,
266 miles. Western Extension, San Antonio to Rio Grande River, 636
miles; Eagle Pass Branch, 35 miles. Grand total, 937 miles.
Operated by the Southern Pacific Company, which owns all but $586,212 of the $27,093,012 stock (par. $100).
\
The first mortgage covers 256 miles of old road and 1,076,331 acres of
land valued at about $1,467,000. It has a sinking fund of 1 per cent, but
it is optional with bondholders to surrender their bonds if drawn. The
Western Division second mortgage 6s are held by the Southern Pacific
Company and by large holders of Southern Pacific securities, who agreed
not to collect interest after July 1,1889, unless it should be currently
earned. The interest charges are thus reduced annually by $381,240.
There is also $101,719 Texas school debt outstanding. Floating liabili
ties Jan. 1,1891, $2,485,076; floating assets, $632,695.
From January 1 to July 31,1891 (7 months), gross earnings were
$2,367,640, agst. $2,260,369 in 1890; net, $436,297, agst. $365,552 in
1890. In 1889 gross earnings were $3,937,291; net, $816,957. In 1890
gross, $4,285,678; net, $917,945; defloit under charges, $214,736
G alveston H o u s to n 8c H e n d e rso n o f 1882.—Owns from Gal
veston, Texas, to Houston, Texas, 50 miles. The road was sold in foreolosulre December 1, 1871, and again August 1,1882. Leased for 99*
years to tbe International & Great Northern RR. Co. and bonds guaranteed by that company. Stock, $1,000,000; par, $100. In year endiug Oct. 1, 1890, gross earnings were $418,457; net, $69,116. In
1888-89 gross $381,922; net, $36,489. In calendar year 1888 gross,
$372,699; net, $28,554; rental of track. $139,455; total net income,
$168,010; interest, &c., $106,063; surplus, $61,947.
G eorgia C aro lin a & N orth e rn .—In progress from Monroe,
N. v.i to Atlanta, Ga.,
comIN C., D AUdillldj V i., 268 miles, of which 165 ^
.
O
rd
O muca, va nmvu j-w miles are „ ,,
w
pleted and the balance under construction. The line is part of the
“ Seaboard” system, and the bonds are guaranteed (by indorsement on
each bond) bv the Seaboard & Roanoke and Raleigh & Gaston railroad
companies. They cannot be redeemed before maturity. The Mercan
tile Trust & Safe Deposit Company of Baltimore is trustee of the mort
gage ; see abstract o f same in V. 49, p. 239. Stock authorized, $1,000,000; outstanding but not paid in, $491,933; par, $100. R. F. Hoke,.
Athens, Ga., President of the company. (V. 50, p. 138, 313, 451.)
G eorgia C om pany.—This company was formed in 1887 to control
the Georgia Central Railroad & Banking Company, of whose stock it
owns $4,000,000, all pledged to secure its trust bonds. Its own stock
of $12,000,000 is all owned by Richmond & West Point Terminal, and
deposited as part security for that company’s collateral trust of 188th
Richmond & West Point Terminal also owns $3,447,000 of the Georgia
|Company’s collateral trust bonds.
G eo rgia M id la n d 8c G u lf.—Owns from Columbus, Ga., to McDon
ough, 99 miles. Completed in September, 1887. Operates Columbus
Southern, Columbus to Albany, Ga., 88 miles. Incomes, non-cumula
tive, $105,000. Stock authorized, $2,000,000; outstanding, $1,245,F o n d a J o h n s to w n 8c G lo versville.—Owns from Fonda, N. Y.> 000; par. $100. Car trusts, $53,900; due $818 monthly.
In
1891, gross earnings were $212,222; net
to Northvttle, 26 miles. The stock is $300.000; par, $100. In year over vear ending June 30, $76,434; interest, $89,460; taxes, $13,026
expenses and taxes,
ending June 30,1890, gross earnings, $227,393; net, $97,318; surplus
deficit, $19,272. New York office, 7 Nassau Street.
over charges and 10 per cent dividend, $25,415.
G eorgia Pacific.—(See M a p of R i c h m o n d & West Point Terminal .)—
F o rt W a y n e 8c J ack so n .—Owns from Jackson, Mich., to Fort Atlanta?Ga., to Greenville, Miss., 458 miles; Woodlawn to Bessemer,
Wavne Ind? 98 miles. On August 24, 1882, leased perpetually to Ala., 19 miles; small branches, 18 miles; Deer Creek branch (three-feet
Lake Shore & Michigan Southern at a rental of $126,027, equal to 5*2 gauge), 22 miles; other lines, 48 miles; total, 566 miles. In Nov., 1888,
ner cent on the preferred stock, and after 1887 any net earnings over 8 leased to the Richmond & Danville for 20 years from January 1,1889,
per cent on preferred stock to be paid as dividends on common stock, (with privilege of renewal), the rental to be net earnings, and the RichCut not exceeding 2 per cent a year.
mond & Danville agreeing to make up any deficiency m these to meet
fixed charges, all such advances, however, to be a preferred charge
F o rt W o r t h 8c D en v er City.—(See M a p U n i o n Pacific D enver <6
_Owns from near Fort Worth, Texas, to Texas State line, 454 n On ?June i,f 1891??teM^b^ dC e n tra I^ ^ ^ a ^ o f Georgia (which see),
6
miles and operates Pan Handle RR., 15 miles. The Union Pacific Den
v e r & Gulf owns $7,766,000 of this company’s $9,275,000 stock. See ^ t o c k ^ s ^ ^ i y o o o (par $100), and $4,378,432 of it is held byrthe
abstract of mortgage, V. 45, p. 440 (trustee, Mercantile Trust Co. of New Richmond & West Point Term. Co., which owns also $1,397,621 income
vnrki There are $160,000 equipment bonds. Last annual report was 5s of 1888, and has deposited them, as well as the stock, as security for
iTiV 52 n 237 In March, 1891, $500,000 new bonds were authorized its collateral trust of 1889. The second consolidated mortgage (trustee,.
iw the Fort Worth & Denver Terminal Company. The stock of the Pan Central Trust Company) secures $5,400,000 second mortgage bonds,
Handle RR is owned, and its bonds (except $7,000) are held by the and also, subject to these, $5,400,000 second mortgage non-cumulative
trustee of the U. P. Denver & Gulf consol, mortgage.
incomes both issued at $9,000 per ile. The equipment mortgage
Tn vear ending October 31, 1890, gross earnings were $2,012,518; bonds of 1889 and 1891 are payable by a sinking fund and are guar
net *763 120 ° Deduct fixed charges, $484,080; balance, $279,040. anteed as to principal and interest by endorsement on the bonds by
In 1889?gross; $1,400,077; net, $512,128. (V. 49, p. 720, 788; V. 50, Richmond & Danville. There are car trusts, payable at the Atlantic
p. 173 ; y. 51, p. 875; Y. 52, p. 237, 428.)
Trust Company, New York City, for.which provision is made under
F o rt W o r t h 8c R io G r a n d e .-In operation Fort Worth, Tex to thIn6yea^ending*^une^O, 1891, approximate gross earnings were
H^wn w o o d about 145 miles; completed m August, 1891. The line $1 908 739. In 1889-90 gross, $1,762,938; net, $163,371 ¡deficit under
i«r forther° otoiected to iron fields in Llano County. See V. 52, p. 81, charges, $499,oio. In 1888-89 gross, $1,330,698; net, $147,244. (V642 Mortgage trustee is Central Trust Company, New York. . Stock
ttthorizedfll,5007000; outstanding, $2,118,000; par, $100.
Bi E 149, P. 235; V. 52, p. 462, 862.)
B
lC
F lo rid a C entral 8c P e n in s u la .—Owns Jacksonville to Chatta
hoochee, 209 miles; Tallahassee to St. Marks, 21 miles ;Fernandmato
Tamipa, 241 miles; Waldo to Cedar Keys, 72 miles; Wildwood to Or
lando, 53 miles; Hart’s Road to Jacksonville, 25 miles; Jacksonville
Belt Line Railroad, 3 miles; other, 6 miles; total, 629 miles.
The Florida Railway & Navigation Railroad in 1888 was sold
and the present company organized. The common stock is
*20 000 000 par $100; 1st preferred, 5 per cent cumulative, $1,582,000’- 2d’preferred, 5 per cent non-cumulative, $4,500,000; car trusts
August 27,1891, 6 s, $189,000 due in five years. The plan of reorgani
zation was in Y. 46, p. 289. Trustee of first mortgage of 1888, Central
Trust Company, of New York. In 1891 the Tavares Orland & Gulf
RR was absorbed, and the new extension bonds were issued thereon.
From July 1,1891, to July 31,1891 (1 month), gross earnings on
629 miles were $105,662, against $79,349 on 574 miles m 1890; net,
$22,353, against $5,663.
.
___ '
La
In year ending June 20,1891, gross earnings on 577 miles were $1,341,878; net, $330,165; interest, $155,726; taxes, etc., $59,955; sur
plus, $114,4$4. In 1889-90 gross, $1,171,370; net, $244,103, sur
plus over charges, $34,504. (V. 49, p. 300.)
BONDS.
AND
STOCKS
R A IL R O A D
S e p t e m b e r , 18 91.]
60
IN V E S T O K S ’
SUPPLEM ENT.
[V o l . L U L
« » W r i t e r . w i l l confer a srreat fa v o r b y g iv in g im m ediate notice o f an y e rro r discovered i n these T ables. _
-------- —
-------------------------------------- Bond®—Princi
INTEREST OR DIVIDENDS.
INT
pal,When Due.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Value. Outstanding Cent.
Road. Bonds
on first page of tables.
307
Bonds, not mort. ($300,000 mature in 1922).c &r
Bonds, not mortgage...................................--r 285
Georgia Southern <£ Fla.—IstM., g.($12,000 p.m.)c
G r a n d R a p i d s <£ I n d i a n a —Stock..............----- - -c
335
1st M., land grant, g., s. f. (guar, by Pa. BE.)..c
335
1stM.,g.,($505,000 are land grant s. f. not drn).c
367
2nd mortgage, redeem, at 105 till Aug. 1,1894.c
General mortgage for $13,000,000— ... . — o&r 367
Mackinaw loan......... ..............----- •;............ ;
37
Muskegon G. R. & Ind. RR. 1st M. traf. guar.. .c
Great Northern— Stock, pref. (no com. stock issued)
St. Paul Minn. &Man.—Stock (rental 6 p. c. in gold)
76
St. P. & Pac. 2d M. (1st on St. Paul to Watab.....
656
St. P. Min.&Man. IstM.I.gr., s.f.,g.,dr’natl05.c
656
2d mortgage, gold (does not cover lands).— c
Dakota Extension 1st mort.,gold ($12,000 p.m.) 473
Consol, mort., gold ($13,344,000 are 6s)..... c&r 2,426
Montana Exten. IstM.,gold($25,000p. m.).c < r 411
fc
Pacific Extension M. for £6,000,000, gold.. c«fcr
Minneap. Un.RR.lst M.,gold,gu.($550,000 are 5s)
70
.East of Minn. 1st M., g.,gu. ($50,000 p. m.) | 4B
203
Montana Cen. 1st M.,g. ($40,000 p. m.) gua
Georgia Railroad <£ B a n k i n g O o — Stock.......•
77&80
1887
1887
1869
1869
1884
1884
1886
1862
1879
1879
1880
1883
1887
1890
1882
1888
1887
$100
1,000
1,000
1,000
100
1,000
1,000
1,000
1,000
1,000
100
100
1,000
100 &c.
1,000
1,000
1,000
l.OOO&c
£100 &c
$1,000
l.OOO&c
l,000&c
July 15,1891
2%
$4,200,000
Q.-J. N.Y.,Am.Ex. B’k & Au ’97,1910,1922
do
do
J. & J.
6
2,300,000
Jan. 1, 1922
do
do
J. & J.
200,000
5
3,420,000
6 g. J. & J. Jan. ,’91, coup, last paid July 1, 1927
6
4,986,081
3,934,000
7 g. J. & J. N. Y., Winslow, L. & Co Oct 1, 1899
Oct. 1, 1899
do
do
1,441,000
7 g. A. & O.
Nov. 1, 1899
do
do
M. & N.
6
3,000,000
Sept. 1, 1924
do
do
M. & S.
5
4,336,000
6
275,000
750,000
5 g. J. & J. N. Y., Winslow, L. & Co. July 1, 1926
Q.—F. N. Y. Office, 40 Wall St. Aug. 1, 1891
20,000,000
1%
Aug. 1, 1891
do
do
20,000,000
l*2g. Q.—F.
July 1, 1892
J. & J.
do
do
7
366.000
1,
4,000,000
* £• J. & J. New York and London. July 1, 1909
7
1909
Oct.
A. & O.
do
do
8,000,000
6 g.
5,676,000
6 g. M. & N. New York, 40 Wall St. Nov. 1, 1910
July 1, 1933
do
do
27,471,000 4*2 & 6g. J. & J.
June 1, 1937
do
do
7,468,000
4 g. J. & D.
£2,000,000
4 g. J. & J. N.Y.&Lon.,BaringBros July 1, 1940
$2,700,000 5 & 6 g. J. & J. New York, 40 Wall St. July 1, 1922
4,500,000
5 g. A. & 0.lN.Y.40WallvBos.,Lee,H Apr. 1, 1908
6,500,000 5 & 6 g. J. & J.'New York, 40 Wall St July 1, 1937
Manitoba, via Breckenridge, 413 miles; Crookston Junction, Minn., to
Great Falls, Mon., 782 miles; Breckenridge, Mmn., to Langdon, Dak.,
206 miles; Evansville, via Tintah Junction, to Ellendale, Dak., 136
miles; numerous branches (to Aberdeen, Hutchinson, Watertown, <sc.),
846 mfies; total, St. Paul Minneapolis & Manitoba, 2,775 mile& Also
operates under contract the following proprietary roads : The Willmar
£ Sioux Falls, Willmar, Minn., to Sioux Falls, Dak., 147 miles, the
Duluth Watertown & Pacific, Watertown, Dak., to Huron, Dak., 70
miles; the Minneapolis Union, 3 miles; total, 220 miles. Total in Mani
toba system, 2,995 miles. Also owns the entire stock of the following
lines, but keeps earnings separate, their income appearing_inThe state
ment of earnings below only as revenue from
owned
or as other receipts : The Eastern of Minnesota, Hinckley to near Duluth,
71 miles; the Montana Central, Great Falls, Mon., to Butte, Mon., 171
miles; branches, 49 miles, and leased line, 15 miles; total, 306 miles.
Grand total, 3,301 miles.
. .
„
Extension to Pacific Coast, 780 miles, is in progress, 121 miles having
been opened for business December 7, 1°90.
,. ,
f
In September, 1891, it was reported there had been added fifty-four
miles to this system by the absorption of the Wadena < Park Rapids
fc
Railroad. It is said
consol, bonds of the St. Paul Minneapolis^ &
Manitoba will be issued to pay the cost, $817,000. ^ e road extend^
from Eagle Bend to Park Rapids, and opens up » t ^ e r sectiom In
^From^July91 (189l!’t > July 31, 1891 (1 month), gross earnings of the same month were also opened a line from Monarch t o ' M o n . ,
x
-the railroads (307 miies) were $126,779, against$120,016 in 1890; net, reaching a rich mining district, and a line in Washington from Seattle,
.$31,993, against $36,326.
.
In year ending June 30,1891, gross earnings were $1,891,692, net, n This\s aMirmesota corporation which in February, 1890, leased the
$658,475; other income, $60,619. In 1889 90,
683,636;
St. Paul Minneapolis & Manitoba for 999 years. assumm its i^ d e d
$504,865. Deficit to lessees on lease was in 1888-9 , $21,066, m debt and guaranteeing 6 per cent per annum m gold on its $20,000,000
1889-90, $33,959. Frofit in 1890-91 was $118,679. Balance due stock The Great Northern’s authorized capital is $40,000,000, oi
lessee, June 30, 1891,$600,976.—(V. 51, p. 537; V. 53, p. 289.)
which $20,000,000 is preferred 6 per cent non-cumulati^. and tMs oifiy
G eo rgia Southern & F lo rid a .—Owns from Macon, Ga., is Issued at present. The Manitoba stockholders were offered the privito Palatka, Fla., 285 miles, and operates the Macon & Birmingham le^oftakingitat50, the remaining 50 per cent Beta«.paid b y a 4 W
<which see), 95 miles. Completed in January, 1890. j Built by the Macon fer to the Great Northern of all the securities owned by the Manitoba
■Construction Co. In 1891 Mr. Willis F. Sparks, President of this oom- Company amounting to over $22,000,000. With the proceeds of sale
rnanv. was appointed its receiver, and also receiver of the Macon Con of the Great Northern’s preferred stock, the
struction Company. In May, 1891, he reported that hewouldbeun- bonds were paid off. The securities acquired by the Great Northern
able to pay the July coupons out df earnings, these haying been ex have been nlaced in trust to secure tbe unity of tbe system,
pended for various purposes. The Court gave him permission to bor o 435 • V 50, p. 205.) No increase of tbe preferred stock can be naade
row funds to meet this interest, and in September, 1891, it was without the consent of tbe holders of three-fourths tbe preferred stock
reported that the overdue coupons were soon to be paid. (See V. 52, p.
■79o • V. 53, p. 95.) Trustee of mortgage is the Mercantile Trust & "TheTamI sales for year ending June 30,1891, were 110,951 acres, for
*813 973 and 256 town lots, for $14,926. The net amount due on land
Deposit Co. of Baltimore. Stock is $4,275,000; par, $100.
From July 1,1891, to July 31,1891 (1 month), gross earnings on 285 contoacts June 30,1890, was $704,583; lands unsold, 2,538,326 acres.
Dividends on Great Northern stock : November, 1890, 1 per cent, in
miles were $78,886, against $66,673 in 1890 on 285 mires; net$34,506, against $25,994.
.
.
In the year ending June 30,1891, gross earnings were $773,863; net 18Ikcfo bf s ^ o S ^ o r e o & ^ i n 1891, to Sèpt. 18 inclusive, 72®
•over expenses and taxes, $240,501; interest on bonds, $205,200 ¡sur
1
plus, $35,301—(V. 51, p. 609; V. 52, p. 350, 427, 795; V. 53, p. 95, 289. 1 Dividends on Manitoba stock since 1880 : In 1881,3 per cent; in 1882,
*
e;
and
G ra n d R a p id s & In d ia n a .—(See M a p of Pennsylvania RR.)- q. in 1883 8 in 1884. 71 in 18851883 since, 6 percent yeaily. which
9,The consolidated mortgage of
is for $50 .000,000 of
Owns from Fort Wayne, Ind., to Mackinaw City, 367 miles; Manistee
Q 42fi 000 were reserved
Branch,* 21; other branches, 40miles; total owned, 428 miles; leases, ffontanaExtension is fo r to pay prior liens. The mortgage ou tne
$25,000,000, to provide for extensions,
and operates Cincinnati Richmond & Fort Wayne RR., 86 miles; Tra_
per mile being allowed for second track.
verse City RR., 26 miles; Muskegon Grand Rapids & Indiana RR., 37 *15 000 V 45 p 342; Central Trust Company of See abstract of mortfa-e in
New York, trustee.
miles—149 miles. Total, 577 miles.
|
J &
. .
. „
The Grand Rapids & Indiana RR. is operated in the interest of the ?he mortgage, for £6,000,000 on the Pacific extension (trustee of mort
gage
Company
k
, ÔO
O
Pennsylvania RR. Co., and $3,934,000 of the 1st mortgage bonds were bondsCentral Trust £6,000 perof New T f o r and) *7,000 w ^ m ü !
at the rate of
mile m Montana
per mue
guaranteed by that company. First mortgage land grant bonds may be
V. 52^p. 82.
bought (not drawn) at 110 out of proceeds of land sales. There was in west of Montana. See abstract of mortgage,from Hinckley northward
runs
-the sinking fund for them January 1,1891, $2,752,780 cash and bills 7 0Thei lEasternaRailway of Minnesotathe mortgage covers equipment,
m
es
to
point near Duluth;
receivable. They are replaced by 5 per cent bonds issued. The Muske- tArminals and elevators. The Montana Central bonds were issued on
on Grand Rapids & Indiana bonds have a traffic guarantee applicable « S a l roads (V. 46 p. 125). The Manitoba guarantees both these
o their interest payment. Pennsylvania RR. owns all the 2d mortgage
ponds except $300,000 held as collateral for the Mackinaw loan. Of issues, principal and interest, and the Great Northern assumes the
the 5 per cents outstanding the company itself on January 1,1891, held guaranty.
18qi iv months), gross earnings of
$637,000. There is a real estate mortgage for $48,250.
The company has a land grant and sold in 1890 38,690 acres for tl6™“ pai/Minn6apius& M»ultol)» on 3,035
$316 851. The lands unsold on January 1,1891, were 329,844 acres.
The assets $696,628 bills receivable, etc., and $2,056,152 cash.
moiitus;
« <iorr 7 KÎ oo-oiTiiit
799 810 on 3,282 miles in 1890.
From January 1 to August 31,1891 (8 months), gross earnings of the
‘S ^ i t o a K g r O B B e a m l u p to, ffl*
whole system (576 miles) were $2,016,745, against $2,217,829 m 1890:
years 1889-90 and 1890-91 were as follows :
1889.90
net $597,564, against $784.766; interest, rentals, etc., $768,797
1890-91.
against $690,131; deficit, $171,233. against surplus of $94,635.
3,278
Miles operated...........................................
3,260
Report for 1890 was in V. 52, p. 898, showing results as follows
$
A p p r o x i m a t e Gross E a r n i n g s of—
$
EARNINGS AND EXPENSES.
10,555,493
St. Paul Minneapolis & Manitoba.................
828,738
1890
1889.
1888.
1887.
Eastern of Minnesota..................................
qqk’irv
1,277,617
428
408
409
403
Miles operated.........
Montana Central........................................
u»o,xo/
Gross income............$2,367,530 $2,232,788 $2,291,166 $2,602,415
Total Great Northern system................. 11,045,793
$859,382
$766,714
$704,191
Net over exp’s & taxes $850,533
Report of Great Northern for 1889-90 in full in Y. 51, p. 658, 679,
$739,700
$737,425
$719,428
Interest on bonds..... $715,600
58,630 682, gave the following :
54,553
47,443
Int. on floating debt..
30,760
3,168
GREAT NORTHERN FOR FIVE MONTHS ENDING JUNE 30, 1890.
17,138
Rentals and miscel...
8,64b
G eo rgia R a ilr o a d & B a n k in g C om pany.—Owns from
Alienist? Ga to Atlanta, Ga., 171 nines; branohes to Washington
am fithenS 58 miles; Macon & Augusta Railroad
Oamnclr Ga to Macon. Ga., 74 miles; trackage, 4 miles, total, ou t
ndies Owns also one-half the stock of the Western Railway of Ala
bama (the Central Railroad of Georgia owning the other half), and has
a one-nfth interest in the Port Royal & Augusta and a thirty-five one
hundredths interest in the Atlanta & West P. (See those compames.)
This company, besides owning the railroad p roperty indicated above,
•has a banking department. In April, 1881, it leased its rafi1
oud (307
miles) and its interest in the other railroad companies for 99 years to
W. M. Wadley and associates, for the Central of Georgia and the Louis
ville & Nashville railroads, at $600,000 per year.
Dividends since 1880-In 1881, 9 ^ percent; in 1882, 10^ .from
1883 to 1887, 10; in 1888,10%; from 1889 to July, 1891. both in
clusive, at rate of 11 per cent per annum (2% per cent quarterly), in
year ending March 31, 1891, company’s income was: From rental
•etc., $600,082; dividend (No. 5) from bank, $50,000; total, $650,082
deduct interest, etc., $177,031; dividends paid (11 per cent), $462,000
balance, $11,050. Net earnings of bank for year were $66,429 and
-total bank surplus March 31,1891, after payment of $50,000 dividend
t
............$724,246
$784,009
$795,146
$829,090
TotaI
Balance ..... ! " _ sur.$126,287 def.$79,817 def.$28,433 sur'.$30,2a2
_
— (V. 50, p. 799 ; V. 52, p. 426, 898.)
G reat N orth e rn .—(See Man.;—Operates under lease the St. Paul
Minneapolis*& Manitoba Railroad, extending from St. Paul, Mmn via
Barnesville to Emerson. Manitoba, 392 miles, Minneapolis to Gretna
Receipts.
Gross earnings...........-$3,361,332
Intere’t on bonds owned 122,308
Div’nds on stocks owned 313,834
Rev. from other sources 185,112
Total..... ............ .$3,982,587
Disbursements, &c.
Operating expenses, <Sm.$l,763,343
State tax........ .........-- „ 1x7*295
Rentaïs pd. and accrued. 1,704,625
Profit and loss.............
413,028
Total....................$3,982,587
M AP
OP T H E
GREAT NORTHERN
Septem ber ,
1891 j
R A IL R O A D
STO CKS
AND
BONDS.
RAILWAY
SYSTFM
IN V E S T O R S '
[Y o u LIIL
SUPPLEM ENT.
------------ --------Z n r Z I Z T T T , » » * f « v o r b v ¡riving im m ediate notiee o f an y erro r discovered In these T a b les
Subscribers w i l l confer a great fa v o r b y g i ----- g-------------------------------------- _
B o n d s —Princi
pal,When Due.
RAILROADS.
Miles Date Size, or
Amount patii T
>er When Where Payable, and by Stocks—Last
Par
Dividend.
of
of
Whom.
?. Payable
For explanation of column Headings, &c., see notes Road. Bonds Value. Outstanding | Ofm
on first pdigo of tatlcs.
G r e e n B a y W i n o n a & St. P a u l — 1st mortgage...... c
219
S S Ä
1st mortgage Kansas City_& Cameron KR...... e*
c
219
13
53
292
54
54
Consolidated mortgage for |8,000,W0._... - - - - - -c
Marrisb. Portent*th Ml. Joy & Lane. Stock^p. .gu^ l s t mortgage (exRd in 1883), int. guar. Pa. RR..r
Hartford <& Connecticut Westerw— Stock...............
1st mortgage.................... ............. ............
104
Preferred stock, 4 per cent npn-cummative.......
74
Consol, mortgage, n o t 1 « 1 0 ..........
164
New consol, mortgage (for $3,000,000)........
192
Houst. Bast & West T e x a s - 1s t M..,g^d($7,000 p.m.)
192
2d mortgage, land grant, $5,000 per m ile.... -; c
H o u s t o n (6 TexasCent.— l s t U X ^ , g ^ e A . a X 110.c^&r 463
Consol. M.,land gr., gold, mt.guar.by ^.Pac.c &r 463
«atm mort, gold, interest guar. by So. Pac... c &r 463
^ A h e^ nrin and int. gu., ($705,000 are 6s)c*.&r
'58
Waco & Northwest 1st X g®Y Ä T 000 000 c*&r
H u d . Sus. Bridge <6N. E. By-— ¡lstM.$10,000,0()0.c &r
‘ 64
H u n t i n g d o n & B r o a d Top —Common ^°®k y ••.......
64
Preferred stock, 7 per cent, non-cumulative— -64
1st mortgage, extended in 1890...........- ■.........
74
2d mortgage, gold.
................. ..............
64
.................
3d mortgage, consolidated—
Hutchinson <t Southern— 1st mortgage.................
& A Coups. Feb.,’89, bought.
6
1881 $ 1,000 $1,600,000
& A. Coups.of Aug.,’89, b’ght
6
280,830
500
1886
None ever paid.
M. & N.
8
3.781.000
1,000
1881
F & A N. Y.,Bk. of N o.America,
8
381.000
1,000
1867
do
do
J. & J.
10
843.000
1,000
1867
do.
do
M. & S.
6
6.775.000
1,000
1881
3*3 J. & J. Phila., Company’s Office
1,182,550
50
do
do
J. & J.
4
700.000
1853 500 &c.
F. & A. N. Y., Cent. N.E. & West.
1
2,635,700
100
Hartford.
J. & J.
5
608.000
1,000
1883
35,000
100
2.867.800
100
Bridgeport, Conn.
A. & O.
4
100,000
1880 500 &o.
5 g. M. & N. N. Y., Farm. L. & Tr. Co
2.839.000
1,000
1887
M. & N. Last coup, paid May,’86
1.344.000
7 g.
1,000
1878
J. & J.
6
750.000
1,000
1883
5 g. J. Ss J. N.Y., Office Mills Buildi
8.064.000
1,000
1890
do
do
6 g. A. & O
3.919.000
1,000
1890
do
do
A. & O
4.305.000
1,000
1890
do
do
1.116.000 4& f ’ A. & O Last paid July, 1885
1890
7 g. J. & J
1.140.000
l'.ò’do
1873
York and London.
5 g- F. & A. New Of., Am. Life Bldg
1,000
m
1888
Phil.
2
1.371.800
50
do
do
1,990,500 See rem. J. & J
50
do
do
416.000
4 g. A. & O
500
1854
do
do
F. & A
367,500
500
1857
do
do
I e- A. & O
1.497.000
1,000
1865
M. & N
5
400.000
1889
Feb. 1, 1911
Aug. 1, 1906
May 1, 1911
Feb. 1, 1892
Jan. 1, 1892
Mch. 1, 1911
July 10, 1891
July 1, 1913
Aug. 20, 1891
July 1, 1903
Apr. 1, 1910
Nov. 1, 1937
1898
Jan. 1, 1913
July 1, 1937
Oct. 1, 1912
Apr. 1, 1921
Oct. 1, 1897
July 1, 1901
Feb. 1, 1938
July 27,1891
July 27,1891
Sept. 30,1920
Feb. 1, 1895
Apr. 1, 1895
Nov. 1, 1919
miles, and branches, 10 miles; New Haven & Derby,
onerated 190 miles. Controlled in interest of N. Y. & -New -^ngiana.^^^
P
Common stock is exchangeable for the new Pr® ^ r®^f*°c ° ^ h e r e
A
of one and one half shares of common for one of new Preferred. There
are also $61,000 5 per cent Danbury branch bonds ^a®^®^OTl,1912„
redeemable October 1, 1892, and rolling stock certificates $ ¿00,000
In Sentember, 1886, the Housatonic leased the Danbury & Norwalk Rail
ST P AUL MINNEAPOLIS & MANITOBA SYSTEM.
1889-90. mar) fnr 99 vears and in July, 1889, leased New Haven & Derby.
1886-87.
1887-88. 1888-89
r a S K
p » «
Since 1876.-From 1877.to lj*4 , 8 per
3,006
Miles operated June 30....
1>935
2,648
1885 5 • in 1886, 6; in 1887; 3; in 1888 and since, nil.
$
Fm m October 1 1890, to June 30, 1891 (9 months!, gross earnings
Q05 8.58o»566 9,582,931
T otal gross e a r n,in g s ....... q aoq a a q q9,5bi,»oo | > ^ 0’067 4 976,148
8,028,448
-- 196^ char^s^’$^00^i^^^iu8t ^ lO ^ S ^ ^ s u r p t o ^ llb lfo i^ against
Operating expenses&taxes 4,314,895 4,669,987 o,uw.uo' ■
*,_____ >
3,586,499 4 606,783
Net earnings..... .......3,713,553 4,891,918
The following show, the S
5
B
S S e f m t o h S i g * “ ‘ he
toba on the old basis, for the fl®®a1 ^ .. lease of the road, makes it
t
t o f f l e W tir th e tocome account of 1889-90 more than the
surplus over all charges:
INCOME ACCOUNT.
1889-90. over taxes, rentals, interest, &c„ $193,074, against $115,90». iv. ,
1887-88. 1888-89.
r 654- V. 50, p. 276, 451, 741, 908; V. 53, p. 407.1
4 891.918 3,586,499 4,606,783 'H o u sto n E ast & W e s t T exas.-(N arrow gaaSe 3
7Q
9fe®nL7°The
203,287
’271 938
161,870
415,782
27 ,9
751,903
514,447
450,709
1886-87.
q 71 ? *153
earnings......... - - - - -- • 3>7}~’2qo
Receipts
Net
Revenue from land dep t..
Other receipts...............
927,089
Balance, surplus.... J....... 257,591
—(V. 50, p. 205, 874; V. 51, P-240,537, 658, 679 682, 787 V. 52, p
-82, 203, 351, 973; V. 53, p. 95,126,156, 368, 407.)
j « f P a u l.—Owns from Green Bay, Wis .
«.
^
miles-* branches, 7 miles: leases-Plover to
were^369¿77; net
«perating
to MarsWand, Wis., 209 mues, '“\ f ^ u\ ’reor„anizati0n of the Green gross larnings50, p. 451, 483, 801, V. oz, p. ^ *o.) expenses and taxes,
■Steven’s Point, 6 miles; total, 222 mues. * A-euigd,
Preferred stock ^70 252. (V.
Bay & Minnesota, sold in foreclosure Marcn xz, xeoi.
Q
m AAA AAA 7 T T C U . Silld CO
o
ift * O fc
UHUOU StO $0>UU j / U P t
CR
UV U ,
m
M
m
m
M
AT^ieA. Antral Texas & Northwestern, s miles; m
12
other, 4 miles.
western Extension was brought out in J _Jf» « ~ ’
cent and receiving
through in che near future. See V. 51, p .^ u .
$296,844 in 1889.
In 1890 gross earnings were $384,104, | fS n® ¿ 6 2 747; interest,
^
The
a PAntralRR which was operated by this company, was »old in
1 3 ,,™ A r t n w t o the H, & T. C. Railroad Company. For plan of re8
r ™ S b o n w e V 45^ U 792, 820. The bonds are given in table as they
W r a i n n X V e 5V%ganization plan. Interest charges will be
^9rhA28outhem(^aofficteCompany°guarantees interest on all the bonds
r
s
k
? S €
47, pT 563; V. 49, p. 113,145, 341, 654;v € 51, H 27b.) i 6 ' p- 2M ; v V. I p. 6 ,(V’
1 ,r
ToKhnli —Owns from Hannibal, Mo., to St*
t
• b? an ch es-S ero n to Kansas City, 53 miles« tion at 110
P
04.0 The first mortgage is a first lien on somemortgages ^ V
>P‘ „ „ aOTes^i mnuanur
thing less tm n . 2,000,000 ’acre8 0f iaxid and the consolidated6s $1,149^
lidated mortgage
Soo1’f n W e M e d i n
f f 2 u S “ o n «.n d to g above) are held aa par.
autl the old stoekholders paid a carfh av
«71 ioner share to obtain their pro rata share of the new
sessmeut of $ 7 140 p
There are $60,000 Union Depot bonds outstandingf^rhe Waco & Northwestern bonds are not a liaffility of th^s
BtTtie uew
i
S
S
K
S
h
T
i
S
t
o
«•»
1888, $46,091; --- r ----- $397,562 m 1887. tv. d o , p. o o ;
surplus, '
300,
company; ? cl®8Ur| c S e ^ i d a r ^years^18r87,6
or®
1888 and for the year
^ » S t M t t b e r 30 in 1889 and 1890, were as follows, 507 miles being
opSafed in 1889 and 1890, this including the Waco & Northwestern nol
owned by the present company ^
1888.
1888-89. 1889-90.
, , „ r r i.h u r *
fr o m DiUervilie, Pa., to Harr
Pa., to Columbia P a , 18 miles,
S T a tffig e x fc -^ :
§’ f
a
^
s s s s s w s s ;
54 mile8 leased to the
1, 1861, the rental
Expenses—
| q99 2 786,053 3,262,362 3,863,919
l;717,865 I I I ®
^ e i ^
2,839,162
,
179191
400 993
700,868 1,024,759
N^v 619 u f i 'Ï 4 5 1 7 3 '269, 47R 654, 856; V 50, p.483, 589, 703; V.
¡ i (Vp 4 i ^1
|
206240, 491,537,569,680,875 ; V. 52, p. 351.)
-eontrolling interest in theroau w p .
an ail-rail route across the
the Poughkeepsie Bridge, by w
lease for one year was made to
Hudson River. On August 30,1889, a lease iol
J charges and 2
the Central New England * Weste , e ^ " 4 5g£0>*$hg iease was exœ
«
BtmHui. *
Per cent per annum outh© s*®®-a . -,939 There are still outstanding E s Edward W. Serrell, 38 Wall s s & : N. Y .-(V . 51, p. 240, 569.)
Street,
fended on the same terms till ^ g u s t l9d9
1900 oonverti- dent,
iiii n ii „ » (lo i i & B r o a d Top.—O w n s from H untingdon, Pa., to
$84,300 Connecticut Western RR. 7 per cem, uou , A
gt 31j 1889;
urnnnt DalTas Pa. 45 miles ; branches, 19 miles ; total operated,^6
ble into stock a t 6° P e 7c®
^ 4 nt^eX $ M , 6 X surplus over fixed charges
“
miles Preferred slock is 7 per cent non-cumulative. There were
ross earnings $325,574, net,
.
11,306. No later earnings reported. (V. 50, p.
>
74 Tannarv 2 1891 $232,000 car trusts. Bonds due in 1890 were
_
tended y
till September 30 , 1920, at 4 per cent, payable in gold- DmH o u s a t o n i c . —Owns Bridegport, onn^ m il
w e st Stockbridge
miles; Brookfield Juuction to Danbury,
pfnptiugtun. 10miles.
Railroad, 3 miles < t.® ® ^ e^ ? ® ? g tookbrffige& Pittsfield Railroad. . 15 i 8 b °t «
8 cka
S
"
5
®
lJa Ï S ^ 7 , 2 per
89
Leases—Berkshire Railroad, 21 miles, HtoMnriug« wilson. Conn., 26
23 miles: Danbury & Norwalk Railroad, Danbury to w
f
S e p t e m b e r , is s i ]
R A IL R O A D
STOCKS
AND
BONDS.
6 »
Subscribers w i l l con fer a great fa v o r b y g iv in g Im m ediate notice o f an y e rro r discovered In tbese T ab les
RAILROADS.
Bonds—Princi
INTEREST OR piVIDENDS.
Miles Date Size, or
pal,Wlien Due.
For explanation of column headings, &c., see notes of
Amount Rate per When
of
Par
Where Payable, and bv Stocks—Last
on first page of tables.
Road Bonds Value.
Cent. Payable
Whom.
Dividend.
Illinois Central— Stock.......................................
Leased line 4 per cent stock, guar, (see remarks..
1st mort. of ( Sterling bonds of 1895.......... 1
18 7 4 f o r Sterl. o f’03, £10,000 d^nyrl.c*
$15,000,000 { Sterling bonds of 1905............I
secures all 4s of 1886, due 1951, gold... .c*
equally...... { 3^8 of 1886, due 1951, gold..c* j
Trust bonds sterl. (securedby Ch. St.L.&N.O.cons.)
1st M. on Ch. & Sp. RR. (Gilman to Springfield).c
1st M., Middle Div.,Otto to Norman June. & brs.r
Collat. trust bonds, gold (for $15,000,000)$&£.e
Chicago St. Louis & New Orleans 1st mortgage..
2d mortgage........................................
Consolidated mortgage,gold ($18,0Ö0,ÖÖÖ)".c*&r
Memphis Division mortgage, gold............ .c*
Cairo Bridge bonds (held by Illinois Central). .r
I n d i a n a Illinois <& I o w a —New 1st mortgage, gold..
1st and 2d inc.Ms. ($250,000 each) 4 p.c.non-cum.r
Indianap. Decatur <6 Western— J. D. & Sp.lstM.,g.s.f.
Indianap. Decatur & Western 1st mortgage, gold
2d mort. (income non-cum. till Jan., 1893)...... c
Income bonds, non-cumulative, drawn at 100.. .r
Indianapolis <& Vincennes —1st mortgage, guar__ c
2d mortgage, guaranteed Penn. Co............. ... .o
International & Great Northern —1st mort., gold
2d mortgage, gold..................... .................
Do
8 per cent incomes...,......... .*.*...
Colorado Bridge bonds, sinking fund... .
I o w a Central—1st mortgage, gold, $15,000 p. m ’ ,'c*
Keithsburg Bridge 1st mortgage, guar............ c*
706-
111
131
854
567
567
567
100
U7
117
153
153
153
153
117
117
776
776
776
50Ï
$100
100
1875
£200
1874
£200
1875
£200
1886
1,000
1886
1,000
1886
£200
1878
1,000
1881
1,000
1888 500 &c.
1877
1,000
1877
1,000
1881
1,000
1889
1,000
1890
1889
1,000
1889
500
1876
1,000
1888
1,000
1,000
1888
1,000
1888
1867 500 &c.
1870
1,000
1879
1,000
1881 500 &o.
1879
1880
1,000
1888
1,000
1885
1,000
®ent. In 1889 gross earnings, $523,844; net,$252,035. In 1890 cross
$721,879 ; net, $358,159; interest, $132,226 ; car trusts, $60,235 ; divi
dends, $109,261. (V. 46, p. 190; V. 50, p 244; V. 51 , p. 20.)
„
« 1s C e n t r a l .—(Se Map. ) — L ine o f RoAD-Chlcago to Cairo
f
365 miles; East Dubuque to Centralia, 341 miles; Memphis Division—
WnfirnnH
+ iS ‘ 100miles; Chicago St. Louis & New Orleans
ÌP I' ePr Orleans, La., 547 miles; branches, 922
.
miles, total, 2,275 miles. Also leases and controls by ownership of
nearly entire stock Dubuque & Sioux City and leased lines 600 niBes
Grand total, 2,875 miles.
Or g a n iz a t io n , L eases , &c .—This company was chartered in Decern
ber, 1850, and organized in March, 1851. The lands granted were upon
the condition that the company should pay to the State 7 per cent of
gross earnings yearly in lieu of taxes. The company acquired a con
trolling interest in the Chicago St. Louis & New Orleans Railroad,
and leased it from July 1, 1882, for 400 years, at 4 per cent per annum
on stock, and issued the above 4 per cent leased line stock in exchange
for a like amount of the Chic. St. L. & New Orleans stock (see below).
The stock of the Dunleith & Dubuque Bridge, $1,000,000, is owned. As
to suit to annul the lease of the Cedar Falls & Minnesota to the
Dubuque & Sioux City, see Dubuque & Sioux City. Fiscal year ends
June 30. Annual election is held in October.
Stocks and B onds .—The leased line stock was issued in exchange for
a like amount of Chicago St. Louis & New Orleans stock, all of which is
held as security therefor. A default for sixty days in thè payment of
any semi-annual dividend of 2 per cent on the leased line stock entitles
the stockholder to his pro rata share of the stock pledged.
In Oct., 1890, it was voted to issue (but only at par) $5,000,000 new
stock, making the total stock $45,000,000. (See V. 51, p. 114,493, 753
Dividends since'1882-In 1882, 7; in 1882, 7; in 1883, 8 and 17 per
cent m Chicago St. Louis & New Orleans stock exchangeable for leased
line certificates ; in 1884,10 ; in 1885,8 ; in 1886,71 ; in 1887 and 1888
«
7: to 1889, 5^; in 1890 6; in 1891, M^rch 3; September2percent
Price of stock—In 1883,124® 148; in 1884,110® 140; in 1885 119h»
®140; in 1886,130® 143^; in 1887,114® 138; in 1888 113® 123V in
Ì889,106® 118%; in 1890, 85®120; in 1891, to Sept. 18, incl. 90® 10L
in addition to the bonds given in the table as outstanding, the com$1,269,000 of the 4 per cents of 1952
and $560,000 Chicago St. Louis & New Orleans consolidated 5s, the inlereston which is included on both sides of the income account, $5,laÌJer 188ue being also held as collateral for the trust
PP?P8Pf l 8§6-„ The company on July 1,1890, also owned all the Chi
cago St. Louis & New Orleans Cairo Bridge bonds and $1,295,000 Du
buque & Sioux City 5s of 1938.
For. the Chicago St. Louis & New Orleans the lessee guarantees the
principili and interest of all the outstanding bonds prior to the 5 per
cent bonds, and by an endorsement on the latter bonds guarantees the
payment of the interest on the same until the principal is paid. The
trust bonds of 1886, which are secured by deposit of a like amount of
Chicago St. Louis & New Orleans consols, are to be secured bv anv
8mortgage on the Illinois Central lines. Of the Chicago St. Louis
flr8t mortage 7s of 1877, $541,000 are a pnor lien on
that part of the road m Tennessee.
onoeral J
irU8t bemìs of 1952 are for an authorized amount of
V n r ^ n f O A A C
Sred 1)7
^ ltil th® U - 8- TrUSt Oo. Of NOW
? A L ^ S r 8 5o £ K mil,tm0rtgag6eC'l a ’)ona’
»»«n a ry
i
J ^ N C m - T h e company, to extend its business, in
668^5 ^ d n e t^ W 7 ^ ’ K '311, *gainsti $2,696,034 in fid o ; net, $679,a
i >7
i^pm July 1,1890, to June 30,1891 (12 months), gross earnings of
whole system (including Iowa lines, making total operated 2 875 milesi
S f n s t % S 2 ,l# 7 aS“ n8t $16’452’022 m 1889-90; net, $4,933,822,
3
• FI80»! year ends June 30. Report for 1889-90 was published at length
AÌe^i+R?N/
i
CLE’ y*
P- 4 14> 417. Cn the Iowa lines there was a
deficit under charges of $204,396.
FISCAL RESULTS OF ILLINOIS CENTRAL (NOT INCLUDING IOWA LINES).
‘
1888-89.
1889-90.
_.j. . __
Road operated................................
2 114
2 275
Gross _earnings.................................... $12,801,713
$14,4Ì8,006
Operating expenses, mcludingtaxes..
7,970,572
9 ,565,104
$42,095,400
I 10,000,000
2.500.000
3.700.000
1 . 000,000
1.500.000
2.499.000
5.266.000
1.600.000
968.000
13.731.000
1.374.000
80,000
11.260.000
3.250.000
See remarks.
800.000
500.000
1.800.000
142.000
1.213.000
795.000
1.700.000
1.402.000
7.954.000
7.054.000
85,500
225.000
5.917.000
591.000
2
2
6 g.
5 g.
5 g.
4 g3*2 g.
3*2 g.
6
5
4 g.
M. & S. New York, 214 B’dway.
J. & J.
do
do
A. & O.
London.
A. & O. London,Morton,R.& Co.
J. & D.
do
do
J. & J. New York, 214 B’dway.
J. & J.
do
do
J. & J. London, Baring Bros.
J. & J. New York, 214 B’dway.
F. & A.
do
do
A. & O.
do
do
7
M. & N.
do
do
6
J. & D.
do
do
do
do
5 g• J15&D16
J. & D.
do
'd o
Sept. 2, 1891
July 1, 1891
Apr. 1, 1895
Apr. 1, 1903
Dec. 1, 1905
Jan. 1, 1951
Jan. 1, 1951
July 1, 1950
Jan. 1, 1898
Aug. 1, 1921
Apr. 1, 1952
Nov. 1, 1897
Dec. 1, 1907
June 15,1951
Dec. 1, 1951
i #
1950
4 g. J. & D. N. Y., Metropol. Tr. Co. Deo. 1, 1930
4
Deo. 1, 1939
7 g. A. & 0.
New York.
Jan. 1, 1906
do
5 g.
Oct. 1, 1947
5 g.
Jan. 1, 1948
10.
7
F. & A. N. Y., Farm. L. & Tr. Co. Feb. 1, 1908
6
M. & N.
do
do
May 1, 1900
6 g. M. & N. Last coup. pd. Nov., ’88 Nov. 1, 1919
6 g. M. & S. Last coup. pd. Sept., ’88 Sept. 1, 1909
8
M. & S.
1909
M. & N. Last coup. pd. Nov.. ’88 May 1, 1920
7
5 g- J. & D.IN. Y. City, Merc. Tr. Co. June 1, 1938
6 g. J. & D.jN. Y., Central Trust Co. June 1 1925
■^vc^
Pv.DJL, p. 1X4, 171,400, 414, 417.457 A93
569, 753; V. 52, p. 204, 350, 351; Vol. 53, p. 59, 95, 126, 186, 37o! .) |
I n d i a n a I l l i n o i s J I o w a . —Owns from Streator Junction, III.
k
to Knox, Ind., 117 miles; trackage (Wibash Railway) into Streator. tw o
miles. Stock, $3,598,000; par, $100 In 1890 finances were readjusted
en4ing ?une 3i? 1889>sross earnings were
’
net’ .$42,893; surplus bver charges and improvements.
$l,0o2. Gross in 1889-90, $326,887; net, $71,537; taxes, $11,055
F. M. Drake, President, Centreville, la.—(V. 51, p. 457.)
*
In d ia n a p o lis D ecatu r & W e stern .—Owns from Indianapolis;
to ^ecatur, 1 1 153 miles. On AprU 1,1889, defaulted, and in
1 .,
June, 1891, a decree of foreclosure was entered under the Ind De
catur & Springfield first mortgage. An appeal to the General Term has
ofifered 0ct65m
i890r °V6r Until the faU’ A reorSa,lization
'an was
July 31, 1891 (1 month), gross earnings were
$51,180, against $42,213 in 1890; net, $13,267, against $14,580 In
year ending June 30,1891 gross earnings were $465,465; net *112 957
In 1889-90 m
-pss, {$436,399; net, $lll,737. New York office 2 Wall
Street. (V. & , p. 22,114, 206, 341, 402, 580, 654, 718, 824 - V 51 n
875; I *52, p. 204, 238. 390, 973; V. 53, p. 126.)
’
’ P‘
I n d i a n a p o l i s & V l n c e n n e s .- O w n s from Indianapolis, Ind.. to
Vincennes, Ind., 117 miles; branch, Bushrod to Dugger, 16 miles - total
133 miles. The Pennsylvania Company owns a controllin™interestin
the stock and operates the road, advancing the deficiency to pay inter
est on the bonds. The capital stock is $1,402,000; par *50 • due P atio
sylvania Company December 31, 1890, for advances,’ $2,284,083 In
1890 gross earnings, $459,606; net, $68,690; deficit under interest &o
$160,848, against $155,436 in 1888. Annual interest, $203,120. *
In te rn a tio n a l de Great N orth e rn .—Owns Longview Texas to
Laredo. Texas, 496 miles; and Palestine, Texas, to Houston^TexM? 150
miles; branches-Houston & Columbia, 50 miles; Phelps to Hiintsville, 8 miles; Mineóla to Troupe, 44 miles; l Z e s - R ^ d Rock to
Georgetown, 10 miles; Henderson to Overton, 16 miles; Galveston
Houston & Henderson, Galveston to Houston, 50 miles; total, 825
The International & Great Northern was foreclosed in 1879 and
acquired by Missouri Kansas & Texas in May, 1881. bv an exchange
of two shares of Missouri Kansas & Texas stock for one of International
a
íhe reorganization of the Missouri Kansas &
i
1890
became the joint property of the Missouri Kan
sas & Texas and the Missouri Pacific, the control being vested in Mr w
P. Olcott, who holds 1,000 shares. (See V. 50, p. 313 Default wa»
flnaliy made on 2d mortgage in March, 1889, and on the 1st mortgage
in May, 1889, some previous coupons having been bought bv Mr Gould
eu ’which he obtained a judgment. Receivers were appointed February
16,1889. In June, 1891, a suit was brought to foreclose the second
mortgage. See V. 52, p. 939. Mr. J. A. Roosevelt, 33 Wall Street, New
York, is chapman of bondholders’ committee. In Julv, 1891 a com
°+ v U e h Mr. Adrian Delhi is chairman was appointed to enforce
payment of interest on the first mortgage. See V 53 n 58 There,
ceiver is now T. M. Campbell, Palestine, Texas
P'
^
The plan of reorganization brought out in May. 1891 it is though*
will be adopted. It provides for scaling future interest on thesecomt
mortgage to 5 per cent and for paying overdue interest on first mort
gage with interest thereon at 4 ^ per cent, half in cash and half in notes
running one to seven years and secur d by the coupons; and for paving
overdue interest on second mortgage with 30-year non-cumulative
mcomes. See Chronicle , v. 53, p. 407.
Tim International & Great Northern guarantees $2,000,000 of Galvo
ton Houston & Henderson 1st mortgage 5 per cent bonds of whio
Missouri Kansas & Texas owns $400,000.
From January 1 to June 30,1891 (6 months), gross earnings on 825
miles were $1,689,347, against $1,735,789 in 18#0; d e fic iS e r deducto
ingoperatmg expenses and betterments, $149,970, against $56,710 in
September 30,1890, gross earnings on 825 miles
I f ’1 *?’769 ;,0 erat!l;S expenses, $3,494,054; taxes, $2,905; net,
a5
.p,
$659,81^0, from which paid for new equipment, $589,181. In 1888-89,
operating expenses, $2,809,655; taxes, $59,1961
“ I
49> P- 22, 300; V. 50, p.275,352,391,422,703,
735, 874 ; V. 51, p. 114, 416, 457, 493; V. 52, p.939, 973; V. 53,
p. 58.)
I o w a Central.—(See M a p . ) — Owns from Albia, la., to Manly JuneNet earnings..................
$4,831,141
$4,882,902
tion, la., 178 miles; Oskaloosa, la., to Iowa Junction, near Peoria, ILL,,
Per cent of oper. expenses to earnings.
62-26
66-20
(excepting Keithsburg Bridge over the Mississippi, leased), 184 miles;
INCOME ACCOUNT (NOT INCLUDING IOWA LINES).
U-nnnell & Montezuma Branch, 14 miles; Story City Branch, 35 miiA«;
Total net receipts (adding interest, &c).....................
$5 644 107 State Centre Branch, 27 miles; Belmond Branch, 22 miles; Newton
Branch, 28 miles; Manly Junction, la., to Northwood, la., (leased to
Disbursements — 1
’
Interest on Illinois Central bonds............. ......................... 1 464 925 Burlington Cedar Rapids & Northern) 11 miles; other, 4 miles; total
owned, 503 miles; leases Keithsburg
Mississippi River 3
Interest on Chicago St. Louis & New Orleans bonds............. l!l06|955 miles; trackage, Iowa Junction, 1 1 to bridge over 3 miles; total 509
1 .,
Peoria, 1 1
1 .,
Dividends on Illinois Central and Leased Line stock.......
2,800 000 miles, but only 498 operated. Operates separately Centreville Moravia
Permanent improvements and miscellaneous. .___
263 415 & Albia, Relay to Albia, 26 miles.
The Central Iowa, October, 1884, defaulted in payment of interest
„ T®tal........ .............-................................................... 5,635,295 and m 1888, after foreclosure sale, was reorganized under present title
Surplus....................... ..............; ...... .............. ..............
8,812 according to plan in Chronicle, V. 44, p. 653. Trustee of first mort-
64
IN Y E S T O K S ’
SUPPLEM ENT.
[V o l.
Lin.
S e p t e m b e r , 1891.]
K A IL K O A D
STOCKS
AND
BONDS.
6 »
Subscribers w i l l confer a great fa v o r b y g iv in g Im m ediate notice o f an y e rro r discovered in these T ables.
RAILROADS.
Bonds—Prinof
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due,
Amount
For explanation of column headings, &c., see notes of
of
Par
Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds 'Value. Outstandim
Cent. Payable
Whom.
Dividend.
Jacksonville Louisville < St. Louis—See Chic. Peoria
&
Jacksonville Tampa (6K ey West—1st,g.,red.at llO.e*
Collat. Trust loan on Fla. So. stock and bonds___
Jefferson (P a.)—1st and2dMs,exten.(HawleyBr.).c
1st M. Carbondale to S.depot,37m.,g.gd.pr.&int.c*
Joliet (6 Northern-Indiana—1st M. guar, by M. C..c
Junction (Philadelphia)—1st mortgage (extended).
2d mortgage............................. .................. ..............
Kanawha < Mich.—1st mort, gold, guar. p. & i.. ,c*
&
Kan. Oity Ark. < New Orl.—IstM. ($20,000per m.)c*
&
Kansas City Belt—1st ($534,000 gu. K.C.F.S.&M.).c*
Kansas Oity Br. & Ter.—1st M. for $1,500,000, g.c*
Kansas Oity Clinton < Spring.—1st M., g., guar..c*
6
Kansas Oitu Ft. Scott < Memphis—Stock.......... ........
&
Preferred stock contracts, 8 per cent.................
K. C. F. S. & G 1st M., I’d. gr.jff. f., dr’n at 110.c*
r.
Mortgages, guaranteed (part drawn, at 105).c*
Kansas & Missouri RR..................................... c*
K. C. Ft. S. & G. Ten-year coupon notes............
Kan. City S. & M. Plain bonds (red’ble at 105).. c*
Consol, mortgage ($25,000 per mile) not dr’n..e*
Current Riv. RR. 1st mort., $20,000 p. m., guar.
Kan. C.& M. R’y &B’dgelstM.g.,s.f.,dr’natll0.c*
Kansas Equip. Co. 1st M. guar., s. f., red. at 110.
Kan. O. Memph. <£Bir.—1st mort. (dr’n at 110)..c*
Coupon interest notes, subject to call at par........
Birmingham equipment, guar, (redeem, at 110).c*
Memphis Equipment Co., guar., red. at 110.......c*
Kansas Oity < Pacific—1st mort., gold, int. guar, .c*
6
K.G. St. Jo.& Goun.Bl.—Con. M. (Nos. 1 to 500pf.)*c
1st Ms. Nod. and Tark. Val. RRs. s. f. (dr.at 100). c*
& St Louis.
1303a 1884 $1,000
1.566.000
1888
1,000
2.900.000
1867
1,000
300.000
1889
1,000
2.800.000
1877
1,000
800.000
1882
1,000
425.000
1865
1,000
300.000
1890
1,000
1.327.000
1890
1,000
(?)
1886
1,000
1.930.000
1889
500
975.000
1885
1,000
3.192.000
100
9.997.000
100
2.750.000
160 1879 100 &e . 2.247.000
202 80-’84 1,000
1.228.000
26 1882
1,000
390.000
85&8Ö 5,000&c
320.000
1884
1,000
500.000
1888
1,000 11,561,000
1887
1,000
1,606,000
1889
1,000
2.500.000
1890
1,000
686.000
276 1887
1,000
6.892.000
1891
(?)
1888
1,000
1, 000,000
1890
1,000
191.000
125 1890
1,000
2.500.000
274 1877 100 &o.
5,000,000
61 1880
1,000
587.000
gage, Mercantile Trust Co. See abstract V. 49, p. 582. Common stock
authorized, $8,600,000; outstanding, $7,973,591; preferred authorized,
$5,600,000; outstanding, $5,505,912; par of both, $100. The preferred
is entitled to 5 per cent (non cumulative), then common to 5, then both
share equally. Bills payable July 1,1891, $456,699; accounts payable,
$225,940; interest, taxes, &c., due or accrued, $118,893; total, $801,532. Offsets—supplies, $162,683; cash and accounts collectible, $166,011; total, $329,694.
.
The Keithsburg Bridge bonds were redeemable at 100 for the sinking
fund, but in 1890 payments to the sinking fund were discontinued in
pursuance of an agreement with the Bridge Company. See V. 51, p. 715.
From July 1,1891, to July 31,1891 (1 month), gross earnings on 497
miles were $128,628, against $126,581 in 1890; net, $23,342, against
$24,251.
Fiscal year ends June 30; report for 1890-91 was in V. 53, p. 367.
Income has been as follows, the road having been taken out of receivers’
hands May 16,1889, and interest on funded debt being paid only since
that time.
1888-89.
1889-90.
1890-91.
Av’ge miles of road operated.
515
504
492
Gross earnings................. $1,387,303
$1,588,963
$1,699,742
Net earnings...................
225,577
428,766
476,361
240,247
Total net receipts...........
444,641
492,462
Interest, rentals, taxes, &e. . 199,270
420,025
470,785
Surplus...............................
$40,977
$24,616
$21,677
The interest, rentals, taxes, &c., above in 1890-91 include: Interest
on funded debt, $295,800; on current liabilities, $17,880; rentals of
bridges, tracks and tunnels, $52,522; taxes, $65,475; betterments,
$33,391; litigation, &c., $5,717; total, $470,785.
President, Russell Sage. (V. 50, p. 244, 313, 353, 377; V. 51, p. 3 4 3 .
345, 715; V. 53, p. 256, 36 7, 407.)
J ack so n v ille Southeastern.
i see Chicago P eoria
J ack so n v ille L o u is v ille & St. L ou is. 5 & St .'Louis.
J a c k so n v ille T a m p a Sc K e y W e s t.—Line of road Jackson
ville, Fla., to Sanford, 126 miles; Enterprise branch. 5 miles;
Deland branch, 6 miles. Leases Atlantic Coast St Johns & Indian River,
Enterprise to Titusville, 40 miles; Florida Southern, Palatka, Fla., to
Gainesville, 50 miles (of which 38 miles 3-ft. gauge); Rochelle to Lees
burg, to Brookville, 106 miles; Bartow to Punta Gorda, 81 miles; Lees
burg to Astor, 50 miles; other branches, 23 miles; total, 310 miles; lines
to St. Augustine, Palatka, Daytona, etc., 101 miles; operates, 66 miles;
total operated, 651 miles.
Opened March, 1886. The land grant was about 1,500,000 acres.
The first mortgage bonds are subject to call at 110. Stock is $2,600,000. Company obtained oontrol of the Florida Southern on January 1,
1889, and issued a collateral trust loan for $2,905,000 on that com
pany’s stock and bonds, this loan bearing 3 per cent interest till 1890,
4 per cent till 1894 and 41 per cent for the remaining 5 years. (See V.
a
47. p. 531.) Suit for foreclosure of Florida Southern’s underlying
mortgage was instituted in March, 1890, and road will probably be sold
in fall of 1891. (See V. 50, p. 422.)
From July 1, 1891, to July 31, 1891, (1 month), gross earnings of
mam line were $39,826, against $30,091 in 1890; net, $12,841, against
deficit of $2,570. In 1890-91 the gross earnings were $705,267; net,
$257,339. In 1889-90 gross, $631,015; net, $134,002. New York
office, 10 Wall Street. (V. 49, p. 23 5 ; V. 50, p. 422, 519.)
J efferson.—Owns from Susquehanna Depot, Pa., to Carbondale,
Pa., 37 miles; branch, Hawley, Pa., to Honesdale, Pa., 8 miles; total,
45 miles. Leased in perpetuity to the New York Lake Erie & Western
for $140,000 per annum for main line and $15,900 for branch. Mort
gage of 1889 is guaranteed principal and interest by lessee. The Haw
ley branch 2ds, $96,000, due in 1889, were extended at 6 per cent.
Capital stock, $2,096,050; par, $50.
•
Jefferson M a d is o n Sc In d ia n a p o lis .—See P ittsburg Cincin
nati
Chicago & St . L ouis .
&
&
&
&
&
&
J.
A.
J.
O.
J.
J.
N. Y., Mercantile Tr.Co.
Boston, Am. L. & Tr. Co.
Phila., Fidelity Tr. Co.
N.Y., N.Y. L.E. & W.RR.
N. Y., Farm. L. & Tr. Co.
Phila., 233 So. 4th St.
& o.
do
do
& o. N. Y., Central Tr. Co.
& N.
New York City.
& J. Boston, Of., 50 State St.
& J. Jan., ’91, coup, last pd.
& o. Boston, Mereh. Nat. Bk.
& A. Boston, Of., 50 State St.
& A.
do
do
& D. Bost., Nat. Webster Bk.
& S.
do
do
& A.
do
do
Boston, Of., 50 State St.
& 'N. Boston, Nat. Union Bk.
& N. Bost., Nat. Webster Bk.
& O. Boston, Nat. Union Bk.
Boston, 2d Nat. Bank.
&*J. Bost., Nat.Webster Bk.
& s.
Interest funded.
& S.
Boston.
Boston, Merch. Nat. Bk.
do
do
N. Y., Central Tr. Co,
Boston, 2d Nat. Bank,
& D.
do
do
Jan. 1, 1914
Aug., 1898
July, 1927
Jan. 1, 1909'
July 10,1907
July 1, 1907
Apr. 1, 1909
Apr. 1, 1990
Nov. 1, 1939
July 1, 1919
July 1, 1910
Oct. 1. 1925
Feb. 16,1891
Feb. 16,1891
June 1, 1900
Sept. 1, 1910
Aug. 1, 1922?
Dec., 1895-99
May 1, 1894
May 1, 1928
Oct. 1, 1927
Oct. 1, 1920
Jan. 1, 1905
Sept. 1, 1901
Mch. 1, 1927
Mch. 1, 1909
Aug. 1, 1905
Aug. 1, 1990
Jan. 1, 1907
June 1, 1929»
From July 1, 1891, to July 31,1891 (1 month), gross earnings were
$25,361, against $33,538 in 1891; deficit, $11,286, against net of $13,844,
In year ending June 30, 1891, gross earnings were $347,702; net,
$86,201. In 1889-90 gross, $305,216; net, $68,854; taxes and rents.
$15,333; surplus, $53,521. President, Nelson Robinson; Vice-Presidents
Stevenson Burke. (V. 50, p. 313, 353,451,483,589; V. 51, p. 142, 457.
753; V. 52, p. 165, 351.)
K a n s a s City A rk a n s a s Sc N e w O rlean s.—Under contract to ba
built from Beebe, Ark., to Monroe, La., 160 miles. On April 1, 1891, 48miles were graded ready for rails. Capital stock, $5,000,000. Mort
gage is for $3,200,000, trustees The Farmers’ Loan & Trust Co., New'
York, Hon. Dan. W. Jones is President and C. G. Stoddart Vice-Presi
dent and Treasurer. Branch offices at 18 Broadway, New York, and
Bartholomew House, E. C., London.—(V. 48, p. 462; V. 49, p. 718.)
K a n s a s City B elt.—From Argentine to Washington Park, 10 mile».
Mortgage is for $2,500,000. Stock authorized $2,500,000 (par $100);
outstanding $100,000; owned one-half by Atchison Topeka & Santa Fe
and three-tenths by Kansas City Fort Scott & Memphis and two-tenths by
Chicago Milwaukee & St. Paul. Double-tracked and used for a termi
nal road at Kansas City. In year ending June 30,1890, gross earningswere $211,400; net, $116,935; interest, $112,772; surplus, $4,163.
K a n s a s City B rid g e Sc T e rm in a l.—Organized to construct a
railroad and carriage bridge over .the Missouri River at Kansas Citv.
In August, 1891, W. B. Withers and W. H. Holmes were appointed
joint receivers of the Kansas City Bridge & Terminal Railroad and the
Chicago Kansas City & Texas Railroad, the latter-extending from North
Kansas City, Mo., to Smithville, Mo., 20 miles, and having $400,000
bonds outstanding. The Central Trust Company is trustee of both,
mortgages. Stock authorized, $2,000,000; outstanding, $975,000; (par
$100.) (V. 53, p. 256.)
w
K a n s a s City C lin to n Sc Springfield.—Owns from Cedar Junc
tion, Kan., to Ash Grove, Mo., 164 miles, and branch to Pleasant Hill..
Mo., 10 miles; total, 174 miles, but only 163 miles operated. Built in
the interest of the Kansas City Fort Scott & Memphis RR., which com
pany guarantees the bonds. There are $58,000 Pleasant Hill & D o
§0t<>7 ? er ceQts due October 1,1907. Stock authorized, $2,500,000; par,.
^ 0 0 ; issued, $1,775,400, of which a majority is owned by the KansasCity Fort Scott & Memphis RR.
From Jan. 1 to Aug. 31,1891 (8 months), gross earnings were $193,281, against $273 615 in 1890. In 1890 gross earnings, $441,1951 neL
$201,857. In 1889 gross, $281,056; net;$107,845.
K a n s a s City F o rt Scott Sc M em ph is.—Owns main line from*
Kansas City, Mo., to Memphis, Tenn., 487 miles, with branches, 184
miles; total owned, 671 miles; leases—Current River Railroad, Willow
Springs, Mo., to Cairo, 81 miles; total operated, 752 miles. Company
formed m April, 1888, by consolidation of the Kansas City Fort Scott &
Gulf and Kansas City Springfield & Memphis railroads.
Under the consolidated mortgage of 1888 (trustee New England Trust
Company of Boston) sufficient bonds are reserved to provide for allprior bonds when due. The Fort Scott Southeastern & Memphis, Rich
Hill and Short Creek & Joplin roads have a sinking fund with which
bonds are bought at 110, or, if not offered, are drawn at 105 (of the
amount given above as outstanding, $208,000 were on -T a 30 ,1890.
un
held alive in the sinking fund).
The Current River Railroad bonds are guaranteed; they were issued?
as per circular in V. 44, p. 246. The Kansas City & Memphis Railway
& Bridge bonds, also guaranteed, will be subject to sinking fund draw
ings after 1891. The Kansas Equipment bonds are guaranteed, and the
issue is redeemable as a whole at any time at 110 and interest, and is
entitled to an annual sinking fund of $12,000, for which the bonds
may be purchased but cannot be drawn. Company also guarantees
$534,000 Kansas City Belt and $3,192,000 Kansas City Clinton &
•
Springfield bonds—see those companies.
Dividends on common stock since 1881—In 1882, 2 per cent; in 1883,
3
1884, 5 ^ ; in 1885, 2 ^ ; in 1886, 4 ; in 1887, 4*3; in 1888, 3L ; in
j
1889, 3; in 1890, February, 2; August, Ha; in 1891, February, 1^
August dividend passed.
Dividends on preferred since 1880—In 1881, 8 *3 ; from 1882 to Feb
ruary, 1891, both inclusive, at the rate of 8 per oent yearly. The August, 1891, dividend was deferred until the results of the calendar year
1891 could be ascertained. See V. 53, p. 186.
July 1, 1891, to July 31, 1891 (1 month), gross earnings
were $349,063, against $368,749 in 1890; net, $82,340, against $89,125;.
interest,rentals, &c., $89,011, against $89,129; deficit, $6,671, against $5..
Fiscal year ends June 30. The advance statement for 1890-91 was in»
V. 53, p. 186. The report for 1889-90 was in Chronicle, V. 51, p. 007.
„
.
1888-89.
1889-90.
1890-91.
Gross earnings................................. $4,545,567 $4,937,431 $4,703,142Net earnings................................... $1,518,057 $1,550,786 $1,313,924
Charges—Int., traffic guar., etc....
994,537
1,042,549
1,068,846
* N orth e rn In d ia n a .—Owns from Joliet, 111., to Lake
Station, Idu., 45 miles. Operated as part of the Michigan Central main
Un®- ®gad opened in 1854 and leased to the Michigan Central. Stock
($300,000) carries dividends of 8 per oent per annum.
J u n ctio n (P h ila d e lp h ia ).—Owns from Belmont, Pa., to Gray’s
connects the Pennsylvania, the Philadel
phia & Reading and the Philadelphia Wilmington & Baltimore railroads,
coming into Philadelphia. Stock $250,000 (par $50), is aU held by these
three companies, and pays dividends of from 20 to 50 per cent per
annum. Gross earnings in 1890, $234,211; net, $142,526.
K a n a w h a M ic lilg a n . —
-(See Map Toledo <& Ohio Central.)—Owns
Corning, O., to Malden, <& W. Va., 134 miles (gauge 4 feet 9 inches);
c.,
leases 19 miles; total 153 miles, of which 11 miles owned is not
operated hy this company. The Kanawha & Ohio (was sold in
foreclosure March 4,1890, and reorganized under present title. (See
Chronicle V. 50, pp. 451, 483.) In October, 1890, a large interest in
the company was acquired by parties interested in the Toledo < Ohio
fc
Balance, after add’g other ine. $606,578
$569,161
$256,881Central, which company has guaranteed the bonds, principal and Dividends paid...............................
516,924
• 208,972
566,414
interest. (See V. 52, p. 165, 351.) The mortgage of 1890 is for
$15,000 per mile of road now or hereafter constructed (an extension
Balance
.......................sur.$89,654 def.$2,747 sur.$47,909»
to mouth of Gauley River, 32 miles, being projected); but until
For 1890-91 there was
River RR. of
extensions are built the issue on present mileage must not exceed $26,947, on the Kansas Cityalso a deficit on the Current$37,297; total
Clinton & Springfield RR. of
10,000 per mile. Stock authorized, $10,000,000: outstanding. such deficits, $66,244.
$9,000r
000; par, $100.
’
’
—(V. 51, p. 171, 383, 6 0 7 ; V. 52, p. 279 ; V. 53, p. 186, 407.)
66
IN V E S T O R S ’
SUPPLEM ENT.
[Y ol. LIIL
SEPTEMBER, 1891.]
.R A I L R O A D
STOCKS
AKO
BONDS.
67
Subscribers w i l l confer a great fa v o r by g iv in g im m ediate notice o f an y e rro r discovered in tbese T ab les.
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
pal,When Due.
Miles Date Size, or
Amount
For explanation of column headings, &c., see notes of
of
Par ¡Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Dividend.
Whom.
Road. Bonds Value.
Cent. Payable
Kan. City Suburban Belt—1st mort. for $1,000,000
Kansas City Watkins < Qulf—1st mort., gold ...c*
&
Kan. C. Wyand'e&N. W.—M.$19,900p.m.,g.,$&;£.c*
Kan. City & Beatrice 1st mortgage, gold, guar.c
Equipment trusts, Series I. A & B .......................
Kentucky Central—Covington & Lex. mort. extend.
MaysviUe & Lexington RR. mortgage..................
New mortgage, gold ($7,000,000).......................c*
Kentucky Union—1st mort. for $3,000,000, gold.e*
2d mortgage for $1,300,000................................
Keokuk < Des Moines—IstM., int. guar., C.R.I.& P.c*
&
Keokuk < Western—Common stock............................
&
Kings Co. Kiev.—1st. M., g., ser.“A”$550,000 p.m.o*
2d mortgage ($7,000,000) $550,000 per mile o*
Funded coupon scrip................. .............................
Fulton Elev.lstM.,Ser. A, $550,000 p.m.,g., guar.c*
Kingston < Pembroke—1st M.,gold,(reedem. at 105)
£
Knoxville Cumberland Cap & Louis-^ 1st M., g___c*
2 d mortgage............................................... ............c*
Lackawanna & Southwestern—Mortgage..................
Lake E rie Alliance &South.—lstM.for$l,250,006.c*
Inc. bonds, non-cum., g. (red. after 1897 at 106)c*
Lake Erie < Western—Com. stock, $20,000 per mile
£
Pref. stock, 6 per cent (not cum.) ($20,000 p. m).
1 st mortgage, gold, ($10,000 per mile)...............c*
Lake Shore d Michigan Southern—Stock..................
)
Guaranteed 10 per cent stock.................................
Clev. Painesville & Ash. RR. 3d mortgage........ c
Buffalo & Erie 1st m. (Buffalo,N.Y.,to Erie* Pa.) .c
Lake Shore div. bonds (Buffalo to Toledo, O.)___c
Consol. 1st mort.sink.fund $250,000 yearly, c&r
Consol. 2d mort. (for $25,000,000), do........ c&r
Detroit Monroe & Toledo 1st mortgage, guar.. o
50
134
35
8Ó
49
220
100
100
162
148
6
6
3
113
70
70
110
60
60
722
722
722
95
88
258
864
864
62
Phila., Union Trust Co.
6
(?)
$600,000
5 g- J. & J. N. Y. Office, 2 Wall St.
In default.
3,750,000
5 g. J. & J.
In default.
400,000
5
J. & J.
626,000
Various
N. Y , Office.
5
J. & D.
219,000
do
do
400,000
7
J. & J.
do
do
6,523,000 .
4 g. J. & J.
2,500,000
5 g. J. & J. Jan., ’91, coup.last paid
800,000
6
J. & J.
2,750,000
5
A. & O. N. Y., 13 William St.
N. Y., John Paton & Co.
4,000,000
1
1,000
3,377,000 5 g & 6 J. & J. N. Y., Am. Ex. Nat. Bk.
1,000
3,377,000
5
A. & O. Inter’st funded till 1893
New York.
422,550
April 1
3 to 6
1,000
1,621,000
5 g- M. & S. N. Y., Am. Ex. Nat. Bk.
1,000
572,000
6
J. & J. N.Y., R. P. Flower & Co.
1,000
1,650,000
5 g. J. & D. New York and London.
1,000
500,000
do
do
6 1 - A. & 0.
1,000
800,000
5
J. & J. N. Y. Office. 48 Wall St.
1,000
346,000
6 g. J. & J.
None paid.
1,000
1,680,000
6 g..
100
11,840,000
100
1
11,840,000
Q.—F. N. Y. Office, 10 Wall St.
1,000
7,250,000
5 g- J. & J. N. Y., Chase Nat. Bank.
100 49,466,500
2% F. & A. N.Y. .Grand Cent. Office.
100
533,500
5
F. & A.
do
do
1,000
819,000
7
A. & O.
500 &c.
2,784,000
A. & O.
7
1,000
1,356,000
A. & O.
7
1,000
14,791,000
See rem. C oupons are paid
7
1,000
24,692,000
7
J. & D.
by Treasurer at
1,000
924,000
F. & A.
7
G rand C en tral
1890 $ ....
1890
1,000
1888
1,000
1889
500
1887-9 1,000
1855
1,000
1876
1,000
1887
1,000
1888
1,000
1890
1,000
1878 100 &c.
1885
1888
1890
1889
1882
1888
1889
1889
1887
1887
1887
1807
1868
1869
1870
1873
1876
K a n s a s City M em ph is Sc B ir m in g h a m .—Owns from Memphis
to Birmingham, Ala., 253 miles, and branches to Aberdeen, Miss., and
Bessemer, Ala., 22 miles; completed in October, 1887. The Kansas City
Fort Scott & Memphis owns half the stock and gives a traffic guarantee
of 10 per cent of gross earnings derived from business to and from this
road, to be applied to interest. First mortgage bonds are subject to
call at 110 ana interest. The New England Trust Company is trustee
under the mortgage; abstract, Y. 46, p. 575. In September, 1891,
holders of the company’s first mortgage bonds were asked to fund five
coupons beginning September 1 into 10-year 6 per cent notes, secured
by the coupons deposited in trust. The coupons of equipment bonds
will be paid in cash as heretofore. See full explanation in Y. 53, p. 325.
The Birmingham and Memphis equipment bonds are both guaranteed
by this company, and are redeemable on 60 days’ notice at 110 and
Interest.
From July 1 to July 31,1891 (1 month), gross earnings were $80,104,
against $83,085 in 1890; deficit under operating expenses $1,099, against
net earnings in 1890 of $11,040; interest, rentals, &c., $35,671, against
$34,716; deficit, $36,770, against $23,676. In 1890-91 gross earnings
were $1,192,165; net, $230,917; net, adding traffic guaranty, $251,040;
charges, $427,105; deficit, $176,065. In 1889-90 gross earnings, $1,209,733; net, $424,965; net, adding trafHc guaranty ($24,697), etc.,
$450,103; surplus over charges, $49,761. Stock. $5,956,000; par, $100.
—(Y. 50, p. 275 ; V. 52, p. 39 ; V. 53, p. 186, 289, 325.)
K a n s a s City & Pacific.—Line of road, Paola to Stevens, 130
miles. Forms part of the Missouri Kansas & Texas main line to Kansas
City, having been leased to that company for 999 years from August 1,
1890. Thelessee guarantees by endorsement the interest on the new 4
per cent bonds, and if prior to August 1,1895, 30 per cent, and there
after 33 per cent, of the gross earnings shall exceed/ the interest on the
bonds, taxes and corporate expenses, the amount of such excess (all
advances by Missouri Kansas & Texas having been settled) is to be paid
to the Kansas City & Pacific. See V. 51, p. 457. Stock is $2.500,000,
•of which $1,725,000 is owned by M. K. & T. From Jan. 1 to April 30,
1891 (4 months), gross earnings on 131 miles were $102,647, against
$88,709 on 125 males in 1890. (V. 51, p. 457, 494.)
K a n s a s City St. J osep h & C ou ncil B lu ffs .—Owns from Kan
sas City to Council Bluffs, 197 miles, branches 58 miles, proprietary
lines (Nodaway Val. and Tarkio Val. RRs.), 61 miles; total operated, 316
miles. The capital stock of $5,262,600 was purchased by the Chicago
Burlington & Quincy in 1880, and the road is operated as part of that
system. In 1890 gross earnings were $1,863,021; net, $596,327;
surplus over fixed charges, $183,031; paid dividends, $161,577.
K a n s a s C ityJSuburban B e lt.—This road extends from Second
•Street and Broadway around Kansas City, via the East Bottoms and
the valley of the Blue and Brush Creek. It provides terminal facilities
for the railroads centering at Kansas City, and furnishes quick transit
from the manufacturing suburbs along the Blue Valley, $1,500,0 0 0 par $100. E. L. Martin,President, Kansas City Mo.
K a n sa s City W a t k in s & G u lf.—Under contract from Lake
Charles, La., northerly to Alexandria, 100 miles; to be completed in
1891. Bonds issued at $15,000 per mile, but this may be increased to
$20,000 for future requirements. Stock authorized, $10,000,000—par
$100. J. B. Watkins, President, No. 2 Wall Street, New York.
K a n s a s City W y a n d o tte Sc N orth w e stern .—Road from
Kansas pity to Beatrice, Neb., 175 miles, of which Seneca to Axtell, 12
miles and Virginia to Beatrice, 14 miles are leased. Owns branches
to Leavenworth, etc., 20 miles. Leases Tonganoxie to Carbondale, 43
miles. Total operated, 239 miles.
In March, 1890, the Farmers’ Loan & Trust Company, trustee of the
•first mortgage, instituted foreclosure proceedings, and Mr. Newman
Erb was appointed receiver, (gee V. 50, p. 451.) On June 18,1891, a
decree of foreclosure was entered, but sale has not been ordered, and
may be delayed. First mortgage bonds are being deposited with the
Central Trust Company of New York, under an agreement between the
London committee, dated April 22, 1891, and Frederic P. Olcott,
Henry Budge and Andrew Haes. In June, 1890, a large interest in
tne road was reported purchased by Mr. Jay Gould. (See V. 50, p. 874.)
Stock issued, $2,773,000; par, $100. From March 24 to December
31.1890, under the receiver, gross earnings were $293,714; operating
expenses and taxes, $306,778 ; deficit, $13,064. In year ending June
30.1890, gross earnings were $479,931; net, $27,067. (V. 50, p, 451,
735, 874; V. 51, p. 51; V. 52, p. 831, 939.)
K e n tu c k y Central Hat 1 a y .—Owns from Covington, Ky., to
w
Roundstone (less three miles leased), 148 miles; Paris to Lexington, 19
miles; Paris, Ky., to Maysville, Ky., 49 miles; total owned, 217 miles;
leases Richmond to Rowland (Louisville & Nashville), 34 miles; Roundstone to Livingston, 3 miles; total operated, 254 miles.
The Kentucky Central RR. was sold in foreclosure April 23,1887, and
the present company organized with stock of $7,000,000 ($6,907,300
issued); par $100. In December, 1890, the Louisville & Nashville ac
quired the stock (See V. 51, p.876; V. 52, p. 939), assuming control
Feb. 1,1891. See abstract of mortgage (Metropolitan Trust Co. of New
York, trustee), V. 45, p. 372. The Maysville Division is leased for
$28,000 per year, but the stock is all owned.
From January 1 to Oct. 31, in 1890 (10 months), gross earnings were
:$909,742, against $874,264 in 1889; net, $400,277, against $424,316,
1920
Jan. 1, 1930
Jan. 1, 1938
July 1, 1939
1891-1900
June, 1895
1906
July 1, 1987
July 1 , 1928
July 5, 1920
Oct. 1, 1923
Oct. 1, 1891
Jan. 1, 1925
Apr. 1, 1938
Apr. 1, 190Ò
Mch. 1, 1929
Jan. 1, 1912
June 1, 1928
Oct. 1, 1919
1929
Jan. 1, 1917
Jan. 1, 1917
Aug. 15,1891
Jan. 1, 1937
Aug. 1, 1891
Aug. 1, 1891
Oct. 1, 1892
Apr. 1, 1898
Apr. 1, 1899
July 1, 1900
Dec. 1, 1903
Aug. 1, 1906
In 1889, gross earnings were $1,063,815; net, $481,978 ; surplus over
charges, $99,201. In 1890 gross about $1,135,000. (V. 48, p. 4 8 9 ;
Y. 50, p. 42 1; V. 51, p. 875, 939.)
K e n tu c k y U n io n .—Owns from Lexington, Ky., to Jackson,
Ky., about 100 miles; completed to Inverness in 1890, and to Jackson
in July, 1891. Projected to Big Stone Gap. In February, 1891, Mr.
H. F. Kean, of New York, was appointed receiver, and in April, 1891,
he was granted permission to complete the road to Jackson, 3 miles,
and to issue receiver’s certificates for $125,000. See V. 52, p. 642.
Capital stock authorized, $5,000,000 (par, $100), of which the
counties of Clark and Fayette and city of Lexington subscribed
$300,000. The first mortgage is for $3,000,000, and covers road and
equipment. The bonds were guaranteed principal and interest by the
Kentucky Union Land Co., which owns 550,000 acres of timber and
mineral lands, and has a paid-up capital of $5,600,000, without mort
gage or debenture debt. There are also second mortgage bonds out
standing. (V. 50, p. 519, 770; V. 52, p. 203, 279, 427, 642.)
K e o k u k Sc Des M o in es.—Owns from Keokuk, la., to Des Moines,
la., 162 miles. Leased for 45 years from October 1,1878, to the Chicago
Rock Island & Pacific Railroad, the lessee to pay 25 per cent of the
gross earnings, but guarantees the interest (not the principal) on the
present bonds. The stock is $1,524,600 8 per cent preferred and $2,640,400 common (par of both $100), a majority of which is held by the lessee.
K e o k u k Sc W e ste rn .—Owns Alexandria, Mo., to Van Wert, la.,
143 miles; operates Keokuk to Alexandria, 5 miles; was formerly the
Missouri Iowa & Nebraska, part of the Wabash system sold in foreclos
ure August 19,1886, and reorganized under this title. Stock, $4,000,000; par, $10.0 A 6 per cent note for $240,000, secured by mortgage,
payable at will, is outstanding. Dividends; In 1888, 1 per cent; in
1891, April 1; Oct. 1.
From Jan. 1 to July 31,1891, (7 months), gross earnings $216,588
against $191,945 in 1890; net, $84,061, against $53,647. In 1890 gross,
earnings were $371,674; net earnings, $141,433.
In 1889 gross,
$356,157; net, $123,760. G. H. Candee, 52 William St., N. Y., Vice3?res.
K in g s County E levated .—Owns road in operation through Ful
ton Street, Brooklyn, to former city line, 6 4 4 miles; leases Fulton Ele
vated, in operation from former city limits to easterly line of Schenck
Av., 13* miles (total track 3 miles), projected to Jamaica, 1 2-5 miles ad
ditional. Stock authorized and outstanding, $3,250,000, par $100. In
terest on the second mortgage bonds for 1890,1891 and 1892 is funded
into 10-year debenturescnp. This scrip receives 1 per cent interest till
April 1,1891, then 3 p. c. till April 1,1892, then 5 per cent till April 1,
1893, and thereafter 6 per cent yearly. Of the 1st mort. bonds $200,000
are 6 s ; trustee is Mercantile Trust Company of New York. (See ab
stract of first mortgage in V. 49, p. 237.) The Fulton Elevated Railroad
is leased for 99 years, and its bonds guaranteed, principal and interest.
In year ending June 30, 1891, gross earnings were $811,586; net,
$245,343 ; taxes, $6,298; interest, $177,793 ; rentals, &c., $9,954; sur
plus for year, $51,298. In 1889-90 gross, $716,707. President, James
Jourdan. (V. 48, p. 855; V. 49, p. 22, 237, 825; V. 51, p. 457; V. 52,"p.
391; V. 53, p. 256..)
K in g s to n Sc P e m b ro k e .—Owns from Kingston, Ontario, Can., to
Renfrew on the Canadian Pacific Railroad, 104 miles; branches, 9 miles;
total 113 miles. Bonds are redeemable on notice at 105. Report for
1889 in V. 50, p. 390. Stock, $4,500,000; par, $50. Gross earnings,
1890, $178,864; net, $44,435; surplus above charges, $6,865. J
in
1889, gross, $182,875; net, $48,363; surplus over interest, $14,043.
See full statement in V. 44, p. 402. (V. 48, p. 526; V. 50, p. 390.)
K n o x v ille C u m berlan d G ap Sc L o u is v ille .—Knoxville, Tenn.,
with tunnel at Cumberland Gap, to a connection with the Louisville &
Nashvine at Middlesboro, a distance of 74 miles; branches, 7 miles.
It forms with the Marietta & North Georgia a direct line, opened in
August, 1890, to Atlanta, Ga. The mortgage is for $1,500,000 on 70
miles and provides for the issue of $500,000 additional at $15,000 per
mile for extensions. The City of Knoxville subscribed to $225,000
stock. Stock authorized: Common, $1,575,000; preferred, $1,380,000; par, $100; paid in $2,730,000. (V. 48, p. 420; Y. 51, p. 345.)
New York office, 59 Wall Street.
L a c k a w a n n a Sc Soijtli. w este rn .—Lackawanna Junction, New
York, to Perkinsville, 41 miles; Hornellsville to Waylaud, 11 miles;
Olean to Angelica, narrow gauge, 38 miles; total, 90 miles. In April,
1889, the Lackawanna & Pittsburg Road was sold in foreclosure and
reorganized. Litigation in progress, and pending a decision of the
courts the only portion of the road in operation is that between
Hornellsville and Wayland, which is operated as the Rochester Hor
nellsville & Lackawanna Railroad, with Mitchell S. Blair for receiver;
and that portion between Bolivar and Olean, which is called the Lacka
wanna & Pittsburg Railroad, of which George D. Chapman is receiver,
Stock, $2,800,000; par $100.—(V. 48, p. 688 .)
L a k e E rie A llia n c e & Southern.—Owns from Bergholz, O., to
Phalanx, O., 61 miles. Sold in foreclosure December, 1886, and reor
ganized, and again sold in foreclosure in January, 1891. It is proposed
to extend the road east and north to Fairport, on Lake Erie. Stock
is $2,000,000; par, $100. There are $150,000 Alliance & Lake Erie
bonds on road from Phalanx to Alliance, 21 miles. In July, 1891, the
Alliance & Northern RR. Company was incorporated, embracing that
portion of the Lake Erie Alliance & Southern Railway between Alli
ance and Phalanx, Ohio. V. 53, p. 58.
« 8
I N Y E S T O I iS ’
SUPPLEM ENT.
[Y ou L ili.
Su bscribers w i l l confer a great fa v o r b y g iv in g Im m ediate notice o f an y e rro r discovered In these T ables.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount
Par
of
When
For explanation of column headings, &c., see notes of
Outstanding Rate per Payable Where Payable, and by Stocks—Last
Whom.
Road. Bonds Value.
Cent.
Dividend.
on first page of tables.
Lake Shore A Michigan Southern—( Concluded.)—
Kalamazo & White Pigeon 1st mortgage, guar, .c
Bat. Cr. & Stur. 1st M., g.,p. & i. guar.(see M.Cen.)
Sturgis Goshen & St. L. 1st mort., g., p. & i. guar.
Kal. Allegan & Gr. Rapids stock, 6 p. c. guar.......
1 st mortgage, guaranteed.................... - ............ c
Jamestown & Franklin (leased) 1st mortgage— c
, 2 dmortgage— .......... .........................................c
Mahoning coal stock..................... .....................
Preferred stock, guaranteed 5 per cent— . . . . .
1st M., Youngs, to And., and branches, guar.-c
Leav. Top. A S. T
r.—lstM ., 1 guar.byAt.&1 byUn.P.
2
2
Lehigh A Hudson River—1st M.,g.,int.red’c’dto 5p.c.
■
2 d mortgage.................................. ............ ----- '• ■'it
Warwick Valley 1st & 2d Ms. ($240,000 2ds,1912)
Leh. & Hud. River Consol.M.for $3,000,000,g..c*
Lehigh A Lackawanna—1st mortgage.................. . .c
Lehigh Valley—Stock ($106,300 is 1 0 p. c. pref.)...
1 st mortgage, coupon and registered................ .
2 d mortgage................... - - - - ................ ............. r
Con. M., sterling, g.,s.f.2 p.c.y’rly, dr’n atpar.c&r
do
coup, and regis., $1,866,000 are 4 12S.c&r
do
annuity, $1,134,000 are 4*28....................
Leh. Val. of N. Y., 1st M.for $15,000,000g.gu.c*&r
Pennsylvania & N. Y.—1st M. end. by Leh. Val.c j
1st mortgage, endorsed by Lehigh Valley---- c
Gen. mort.,$10,000,000, guar.prin. &int.(end.)r
Easton & Amboy, 1st M.guar.Easton to P. Amboy
Delano Land Company bonds, endorsed...............
Litchfield Carroll.AWestern—l&t M.($10,000p.m.)c*
$400,000
Jan. 1, 1940
37 1890 $1,000
Depot, New York,
5 g- J. & J.
79,000
41 1889
and registered inDec. 1, 1989
3 g. J. & D.
322,000
29 1889
Dec. 1, 1989
terest by Union
3 g. J. & D.
iö o
610,000
3
58
Oct, 1, 1891
A. & O.
Trust Company.
1,000
840,000
5
July 1, 1938
58 1888
J. & J.
1,000
298,000
7
51 1863
J. & J.
Var. to J’ly,’97
1,000
500,000
7
J. & D.
June 1, 1894
51 1869
50
1,500,000 2!a&2ex F. & A. N. Y.. Gr’d Cent. Stat’n. Feb. 2 , 1891
42
50
661,850
42
2ia J. & J. N. Y.. Union Trust Co. July 1, 1891
1,000
1,500,000
5
42 1884
J. & J.
July 1, 1934
do
do
1,000
1,380,000
4 g. J. & J.
46 1882
July 1, 1912
Boston.
1,000
800,000
5
J. & J. N. Y., Nat. Exch. Bank. July 1, 1911
41 1881
1,000
208,320
5
J. & J.
63 1887
July 1, 1917
do
do
385,000
6
A. & O.
22 ’79-*81 500 &c.
do
do
1900 & 1912
1,000
1890
569,000]
J. & J.
63
5 gdo
do
July 1, 1920
1,000
J. & D. Phila.,Fid.I.&S.Dep.Co. Dec. 1, 1907
100,000
7
26 1877
50 40,441,310
Q .-J . Phila., 228 So. Third St. Oct. 15, 1891
1,000
5,000,000
6
J. & D. Reg.atoffice; cp.Bk.N.A. June 1, 1898
101 1868
1,000
M. & S. Phfla. Of., 228 So. 3d St. Sept. 1, 1910
6,000,000
7
101 1870
1,000
2,185,000
6
J. & D.
do
do
285 1873
Dec. 1, 1897
1,000 10,507,000 4*2 & 6 J. & D. Reg.at office;cp.Bk.N. A. Dec. 1, 1923
285 1873
1,000
4,669,000 412 & 6 J. & D. Phila., Of.,228 So. 3d St. Irredeemable
285 1873
1890
1,000
9,500,000
Philadelphia.
July 1, 1940
4*2g. J. & J.
1,000
1,500,000
7
J. & D. Phila., Bk. N. America. June 1, 1896
105 1866
1,000
1,500,000
7
J. & D.
do
do
June 1, 1906
105 1866
1,000
7,000,000
4 & 5 A. & 0. Phila., Lehigh Val. RR. Apr. 1, 1939
105 1888
1,000
M. & N. Phila., Of., 228 So. 3d St.
6,000,000
5
1920
60 1880
1872
1,000
Jan. 1, 1892
1,355,000
7
J. & J.
do
do
1,000
Jan. 1, 1916
516,000
N. Y., Am. Ex. Bk.
52 1886
6 g. J. & J.
From January 1 to July 31, 1891 (7 months), gross earnings
were $40,677, against $37,080 in 1890; net, $6,711, against $5,390
In 1890 gross $68,009; net, $11,764. In 1889 gross $63,144; net,
$12,463. L. M. Lawson, Treas., 102 Broadway, N. Y.—(V. 51, p. 680; V.
52, p. 164; V. 53, p. 58.)
L a k e E rie Sc W estern R a ilr o a d .—(See Map.)—Owns from San
dusky, O., to Peoria, 111., and branch to Minster, 428 miles, and from
Indianapolis to Michigan City, 161 miles; also Fort Wayne to Connorsville and branch to Rushville, 133 miles; total, 722 miles. Com
pany formed in 1887 after foreclosure (on December 14, 1886,)
of the Lake Erie & Western Railway. In March, 1887 purchased the
Indianapolis Peru & Chicago Road, 162 miles, and in June, 1890, ac
quired the Fort Wayne Cincinnati & Louisville. (See C h r o n i c l e , V.
50, p. 590.) The terminals at Indianapolis, Peoria, Fort Wayne and
New Castle are operated partly under lease. This company proposes to
build the Indianapolis & Northwestern from Muncie to a point on the
Indianapolis Division, to make a direct line from Sandusky to Indian
apolis. See V. 52, p. 497.
Abstract of mortgage (Central Trust Company and A. L. Mason, trus
tees), in V. 46, p. 45.
Dividends on preferred stock—In 1890,4 per cent (1 per cent quar
terly) ; in 1891, Feb., 1 per cent; May, 1 ; Aug., 1.
Price of common stock since reorganization—In 1887, 13 ® 2 4 1 ; in
2
1888,12ia® 19*8; in 1889, 16 ® 203s; in 1890,10*2® 197g; in 1891, to
Sept. 18 inclusive, 121
2@19.
Pricfe of preferred—In 1887, 39%®61; in 1888, 4 0 1 @ 5 5 78 ; in 1889,
4
5138® 661 ; in 1890, 44®68; m 1891, to Sept. 18, inclusive, 53®66%
4
From January 1 to July 31 (7 months), in 1891, gross earnings
on 722 miles were $1,760,127, against $1,687,895 in 1890 on 722 miles;
net, $727,267, against $635,036; interest, rentals, etc., $301,531,
against $266,874; surplus, $425,736, against, $368,162.
The annual report for 1890 was in V. 52, p. 497. In the following the
figures for both years include the Fort Wayne Cincinnati & Louisville.
1889.
1890.
Gross earnings.................
$2,839,278
$3,074,438
Net earnings..........................................................$1,116,249
$1,275,656
Deduct—
Interest on bonds................................................
303,000
332,750
Taxes and rentals..............
139,320
146,503
Dividends...........................................................(1%) 118,400 (4%) 473,600
pendent on through traffic, or traffic from competitive points, and its
business is injured by any cutting of rates.
Nothing has been charged to construction or equipment account sinoe
1883, the outlays therefor charged to operating expenses amounting in
1890 to $1,680,000, this being exclusive of expenditures for renew
als. The nominal profit and loss surplus to credit of income account on
January 1,1891, was $11,647,210.
For the first six months of 1891 earnings were as follows, in com
parison with the same period in 1889 and 1890.
1889.
1890.
1891.
$9,923,850
$9,550,047
Gross earnings.................. $8,829,696
* Net over ex.and taxes.
$2,884,975
$2,965,291
$2,941,038
Int., rent, and guar. div..
1,711,625
1,686,926
1,680,000
Balance for stock.......... $1,173,350
Dividend payable Aug. 1 ... (2) 989,330
Surplus for half-year...
$1,278,365
$1,261,038
(2) 989,330 (2*2) 1,236,662
$184,020
$289,035
$24,376.
* After adding other income, $196,606 in 1891 and $218,660 in 1890.
The annual report for 1890 was published in V. 52, p. 716.
O P E R A TIO N S AND F IS C A L R E S U L T S .
1887.
1888.
1889.
1890.
Miles operated.,___
1,341
1,342
1,410
1,445
Total gross earnings $18,710,962 $18,029,627 $19,487,196 $20,865,760
Net over ex. &taxes.$7,681,164 $6,719,256 $6,639,744 $6,645,270
68-15.
65-93
P.c.of op.ex.to ear’gs
58-95
62-73
INCO M E ACCOUNT.
1887.
Net, inch oth. inc’me
Disbursements—
Rentals paid............
Interest on debt......
Divid’s on guar. s’k.
1888.
1889.
1890.
$7,811,163 $6,939,148 $7,022,285 $7,144,037
$449,313
3,276,140
53,350
$517,418
3,257,515
53,350
. $507,645
3,245,015
53,350
$564,410
3,225,723
• 53,350
Total disb’sem’ts $3,778,803 $3,828,283 $3,806,010 $3,843,492
3,300,5453,216,275
3,110,865
Surplus for dividend 4,032,360
Dividends............ ...(4)1,978,660 (5)2,473,325 (5)2,473,325 (6)2,967,990
sr.$2,053,700 sr.*$637,540 sr.$742,950 sr.$332,555
Surplus...........................
$555,519
$322,803 Balance................... 9 , 703, 736, 904; V. 51, p. 240, 747, 909; V. 52, p-.
—(V. 50, p. 314. 6 5
Calvin S. Brice, New York, President.—(V. 52, p. 4 9 7 ; V. 53, 407.)
280,321, 71 6, 761, 796, 973; V. 53, p. 289.)
L e a v e n w o r th T o p e k a Sc S. W . —Owns from Leavenworth to
L a k e Shore Sc M ic h ig a n Southern.—(See Map New York Oen
Junction, in Kansas, 47
Operated as part of the St.
tral A Hudson River.)—Owns from Buffalo, N. Y., to Chicago, 111., 540 Meriden& Grand Island Division miles. Union Pacific, its stock ($1,Joseph
of
miles; branches, 319 miles; total owned, 859 miles. Proprietary lines 380,000) being owned one-half each the Union Pacific and Atchison.
by
(entire stock owned) Detroit & Chicago, 68 miles; Detroit Montreal & Topeka & Santa Fe. Of the bonds $690,000 are guaranteed by Union.
Toledo, 62 miles; Kalamazoo & White Pigeon, 37 miles; Northern Cen Pacific, the balance by Atchison. In 1890 gross $30,993; deficit from
tral (Mich.), 61 miles; Sturgis Goshen & St. Louis &c., 36 miles;
total, 263 miles. Leases Kalamazoo Allegan & Grand Rapids, 58 miles; operating, $53,035, (against $32,280 in 1889); deficit under charges,.
James wn & Franklin, 51 miles; Mahoning Coal RR., Youngstown to $118,507, against $97,632 in 1889.
Andover, O., and branches, 50 miles; Detroit Hillsboro & Southwestern,
L e h ig h Sc H u d s o n R iv e r .—Owns from Greycourt, on Erie Road
65 miles; Fort Wayne & Jackson, 98 miles; total, 322 miles. Totalroad to Belvmere, N. J., 63 miles. Proprietary line—Hudson Junction toowned, leased and operated Jan. 1,1891,1,445 miles.
Maybrook, N. Y., on line to the Poughkeepsie Bridge, 11 miles; track
O r g a n i z a t i o n , & c . —This company was a consolidation of the Lake age Pennsylvania RR., Belvidere to Phillipsburg, 14 miles; other mile
Shore RR. and Michigan Southern & Northern Indiana RR., May 27, age, 2 miles; total operated, 90 miles. _ In August, 1888, the Central,
1869, and the Buffalo & Erie RR., August 16, 1869. The Mahoning of New Jersey purchased about one-tbird the company’s stock, and!
Coal RR. is leased in perpetuity at 40 per cent of gross earnings, and this, with the stock held by the Lehigh Coal & Navigation Co., controls
its preferred stock and bonds guaranteed. Lake Shore owns $865,900 the road. In addition to above bonds there are $65,000 Wawayanda,
of its common and $399,500 of its preferred stock. The N. Y. Chic. & 6s (J&J), due 1900, and $40,000 6 per cent car trusts. Stock, $l,340,r
St. Louis (Nickel Plate) road has been controlled by ownership of 000 • par, $100. The general mortgage for $3,000,000, (trustee, Central.
stock since 1882, Lake Shore now owning $6,240,000 of its common, Trust Company of New York), covers the stock of the proprietary line,
$6,275,000 of its 2d preferred and $2,503,000 of its 1st preferred stock. and $1,750,000 bonds are reserved for prior bonds when due.
From July 1,1891, to July 31,1891 (1 month), gross earnings were
The company owns also (besides the entire stock of the proprietary
lines) $2,675,696 Pittsburg & Lake Erie stock and $169,100 common $37,418, against $31,016 in 1890; net, $18,320, against $12,534. In
vear ending June 30; 1891, gross earnings were $397,802; net, $147,and $774,400 preferred Cleveland Lorain & Wheeling.
009: interest on bonds, $111,143; surplus, $35,867. Grinnell Burt,
S t o c k s a n d B o n d s .— The stock has remained at $50,000,000 since
1871. The guaranteed stock of $533,500 carries'lO per cent dividends. President, 80 Broadway, N. Y. City. (V. 50, p. 353; V.. 51, p. .494,,
Dividends on .common stock since 1876; in 1877, 2; in 1878, 4 ; in 715, 787, 9 0 8 ; V. 52, p. 280, 762.)
1879, ipa; in 1880,1881,1882 and 1883, 8 per cent each year; in 1884,
L e h ig h V a lle y .—(See Map;—Main line, Perth Amboy,.N. J.,to Geni
7; in 1885 and 1886, nil; in 1887 and 1888, 4 per cent; in 1889, 5; in eva, N. Y., 340 miles; branches to Audenried, Tomhicken, Hazleton,.
1890, 5; in 1891, February, 2 ^ and 1*2 extra; August 2 *2.
&c., 408 miles; Southern Central RR., 114 miles; State Line & Sullivan'
Mahoning Coal common stock paid in 1889 4Lj per cent; in 1890, 5 ; RR., 24 miles. Total system, November 30,1890, 886 miles ; second,
in February, 1891, 2 *2, and 2 extra.
track, 305 miles. Trackage: Pennsylvania Railroad, 50 miles;
P r i c e op S T O C K .— In 1880, 95® 1395s; inl881,1125sl35%; inl882,98 New York Central, 15 miles; Erie, 188 miles; Central of New Jersey,.
®120 1 in 1883, 92%®11478; in 1884, 5 9 *2 ® 104%; in 1885, 50%®897
8;
s; 21 miles. Company expects to own a through line from New York to
in 1886, 76^8® 1003s; in 1887, 89®98%; in 1888, 8 5 ^ 104 ^ 8; in 1889, Buffalo by July 1,1892. (See V. 50, p. 834.) In September,.1891, the
9 9 %® 10812 ; in 1890, 101®1141 ; in 1891, to Sept. 18 inclusive, Lehigh Valley Terminal RR. Co. was formed by consolidation of sev
s
1051
2®121:> .
4
eral controlled properties.
.
Interest on the consolidated first mortgage is paid on coupon bonds
The consolidated mortgage of 1873 (trustee, Fidelity Insurance, Trust
J. & J., on registered bonds Q.—J.
& S. D. Company of Phil.) is for $40,000,000, of which $12,000,000 areThe first consolidated mortgage bonds are redeemed each year by reserved to retire $11,000,000 prior liens when due. The bonds are
$250,000 contributed to the sinking fund. The above bonds of all issued in three series, of which the sterling issue, “class A,” is subject to
classes outstanding are given less the amounts held in the sinking call at par in increasing amounts each year, $269,000 being the amount
funds, which amounted to $5,250,000 June 30,1891.
payable in 1891. A second series is composed of the “ coupon and reg
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 istered” bonds, which are not subject to call, but which prior to Nov..
models of clearness in all the statistical matter. The road is greatly de • 13,1893, may be converted at option of holders into bonds of the third
BONDS.
AND
STOCKS
R A IL R O A D
EPTEMBER, 1891.)
> 0
IN V E S T O R S ’
SUPPLEM ENT.
Iv i.. Lin.
o
Subscribers w il l confer a great fa v o r by g iv in g im m ediate notice o f an y e rro r discovered in these T ables.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount |^a^e per when I
Where Payable, and by Stocks—Last
Par
Of
For explanation of column headings, &c., see notes of
-—Whom.
Dividend. !
Road. Bonds Value. Outstanding cent. Payable1
on first page of tables.
Little Miami—
Stk. com., gu. 8 p. c. 99 yrs.P.C.«feSt.L.
Street con. 1st & 2d Ms. (jtly. with Cin. <eI. RR.) -c
f
Renewal mortgage.................. . . .............. ^......... - - o
Convertible bonds for $3,000,000........ - ............
Little Mock < Memphis—First mortgage, gold...... - c
&
Little Schwylkill^-Btock........ ............................ .
Long Island—Stock........................... .............
1 st mortgage, main line.......... ..............................c*
2 d mortgage..
........
. ............. ..... — - - - o
Consol. M.g. ($1,390,000 reserv’dforpriorb’ds)c*
General mortgage for $3,000,000, gold........ - - -c*
New York & Flushing 1st mortgage, assumed....
Brooklyn & Montauk 1st M., $250,000 are 6 s...c*
Second mortgage, assumed (for $600,000), g.c
Long Island City & Flushing 1st M,. assumed, .c*
Consol, mortgage, gold, assumed--------------- W
New York & Rockaway 1st mort., guar. mt. only.
Smithtown & Port Jeff. 1st M., guar. prin. & int.
Louisiana Western—1st mortgage, g o ld ...... . . . . . . .
Louise. Evansv. < St. L. Consol.—1st mort. E.R.&E.
6
L. E.&St. L.lstM.,g.,(lstonl82m.,2don72m.)c*
2 d mortgage, gold, unassented........................ c*
Hunt. TelL City & C. RR. 1st mort. gold, guar.c*
HJinois & St. Louis 1st mortgage........ ...............c*
Venice & Carondelet mortgage, guaranteed— c*
Consolidated mortgage, gold ($8,000,000)....... oj
Louisville < Nashville—Stock....................................
&
Lebanon Br., junc. to Jellico, Louisville loan.. .c
Consol. 1st M. (prior liens are only $333,000)..c
Memphis & Ohio 1st M., Paris to Mem., guar. M
Mem.Clarks.&L. 1st M.,£ ,Guthrie to Paris,Tenn.c
52
2 1864-8
84
1£82
135
28
1887
94
158
180
180
386
1868
1878
1881
1888
1880
1881
1888
1881
1887
1871
1871
1881
1881
1886
1886
1887
1875
1880-2
1889
171
419
130
83
1863
1868
1871
1872
2
76
76
23
23
19
112
72
182
182
24
20
$4,943,100
525.000
1.500.000
None
3.250.000
1,000
2,487,850
50
50 12, 000,000
1 . 121.000
500
268,703
100 «fe .
e
3.610.000
1,000
2.500.000
1,000
125.000
1,000
1,000,000
1,000
600.000
1,000
600,000
1,000
650.000
1,000
250.000
500
600.000
500
2.240.000
1,000
900.000
1,000
$50
1,000
1,000
1,000
1,000
1,000
500
1,000
1,000
100
1,000
1,000
£ 2 00
£200
2
6
Q .-M . Cinn.,Office, lstNat.Bk. Bépt. 15,1891
do
do
Various
1894-1898
M. & N. N. Y., Bank of America. Nov. 2, 1912
5
7
.5 g. M. & S. N. Y., Central Trust Co.
3ia J. & J. Phila., Of., 410 Walnut
Q .-F .
1*4
do
do
M. & N.
7
do
F. & A.
do
7
do
do
5 g. Q.—J•
do
do
4 g. J. & D.
=
M. < S.
&
do
do
6
do
do
5 & 6 g. M. & S.
J. < D.
&
do
do
5 gM. & N.
do
do
6
do
do
M. & N.
5 g.
A. & O. N. Y., Corbin Bank’gCo.
7
do
do
M. & S.
7
6 g. J. & J. N.Y., S. Pac.Co., 23 B’rd
&
J. « J. N. Y., Security < Tr. Co,
fe
6
do
do
&
2,000,000
6 g. A. < O.
do
do
A. « O.
fe
670.000 4 to 6 g.
do
do
f
300.000
6 g. A. <c O.
do
do
J. « D.
fe
8
200.000
do
do
Various
6
300.000
do
do ,
fe
3.795.000
5 g- J. « J,
N. Y., 23 Nassau St.
f
2*3 F. <e A
52,800,000
do
do
A. < O
&
6
333.000
do
do
A. < O
& .
7
6.806.000
f
3,500,000
7 g. J. <c D London and New York
do
do
&
2,015,660
6 g. F. < A
Sept. 1, 1937
July 6 , 1891
Aug. 1, 1891
May 1, 1898
Aug. 1, 1918
July 1, 1931
June 1, 1938
Mch. 1, 1920
Mch. 1, 1911
June 1, 1938
May 1, 1911
May 1, 1937
Apr. 1, 1901
Sept. 1, 1901
July 1, 1921
July 1, 1921
Oct. 1, 1926
Oct. 1, 1936
Oct. 1, 1927
June 1, 1895
1900-1902
July 1, 1939
Aug. 1, 1891
Oct. 15,1893
Apr. 1, 1898
June 1, 1901
Aug. 1, 1902
The control of the company was sold to the “ Long Island Company,’
senes, these last being annuity bonds and irredeemable, never falling
due except in case of default. All these issues are equally secured.
, controlled by Mr. Austin Corbin and others, in December, 1880. (See
The Lehigh Valley Railway Company of New York owns a road also V. 52, p. 571, 608.) In July, 1881, the stock was increased from
which when completed will extend from Buffalo, N. Y., to Sayre, Penn., $3,260,700 to $10,000,000, and in 1889 to $12,000,000 in order to ab
fe
283 miles double track. Of this, 131 miles are in 9peration, and the sorb the Brooklyn < Montauk.
In July, 1891, a contract was signed for regular train-service be
balance under construction. The company’s stock is all owned by the
Lehigh Valley RR., which guarantees principal and interest of the 4*3 tween Brooklyn and Long Island City and Boston,trains to be taken by
per cent bonds of 1890, this guaranty being endorsed on the bonds. transfer steamers across the Sound and, via the Housatonic RR. to
f
Trustee of mortgage, Girard Life Insurance Company, Philadelphia. Hawleyville, Conn., and thence via the N. Y. <cN. E. to Boston. This
arrangement took effect September 21,1891. See V. 53, p. 95.
(See mortgage abstract V. 51, p. 114.)
The Central Trust Company is trustee of the general mortgage of
The Pennsylvania <eNew York Canal < Railway is leased for 99 years
f
&
from December 1,1888, to Lehigh Valley, which has assumed its debt 1888. There are also $241,700 real estate mortgage 5s to 7s.
Dividends since 1881—In 1882, 1; from 1883 to May, 1891, both
and owns all its stock. Under its general mortgage of 1889 (trustee,
Girard Life Insurance Company) sufficient bonds are reserved to take inclusive, at the rate of 4 per cent per annum; Aug., 1891,1*4 p. c.
Price of Stock—In 1883, 58®86%; in 1884, 62®78*4! in 1885, 62®
up prior bonds when di*. Lehigh Valley also guarantees interest on
s;
certain securities of the Morris Canal. (See that company under mis 807 in 1886, 80®100; in 1887, 85®99%; in 1888, 87*a®95; in 1889,
89*2®96*2; in 1890,82®95; in 1891, to Sept. 18, inclusive, 86 ® 9 9 * .
4
cellaneous.) There is an important contract for supplymg the city or
Fiscal year ends now June 30; the 1889-90 report was in V. 51, p.
Newark with water. (See report V. 50, p. 137.)
.
536. In the following statement the figures for 1889-90 and 1890-91 are
Dividends on common stock since 1880—In 1881, 5 *2 ; m ¿882, 6 *2 ,
in 1883 and 1884,8; in 1885, 6 ; in 1886,4; in 1887,4*a;. from 1888 for year ending June 30, all others for year ending September 30.
INCOME ACCOUNT.
to October, 1891, both inclusive, 1*4 per cent quarterly, being at rate
1890-91.
1889-90.
1888-89.
1887-88.
° fPricerof ^^onnmon stock in Philadelphia—in 1884, 57®717s ; in l885,
$
$
$
$
54*2®61*4; in 1886, 55*4®62; in 1887, 53%®57%; in 1888,51*2® Gross earnings................... 3,403,296 3,477,989 3,685,769
5 7 ^ ; in 1889, 52®55; in 1890,47*a®54*8; in 1891, to Sept. 18, inclu
8
Net earnings....................... 1,277,047 1,305,637 1,392,036
sive, 457
8®51.
.
,
,
.
The fiscal year ends November 30. The last annual report was m the
467,445
464,567
341,628
Interest, less int. received. 151,758
Ch ronicle , V. 52, p. 162.
306,859
283,042
359,542
481,475
Rentals and taxes............
INCOME ACCOUNT.
25,191
63,067
1889-90.
1888-89.
480,000
480,000
440,000
400,000
$17,432,007 Dividends...........................
Gross receipts............................. -................
11,951,771
Operating expenses......................
11.393.475
,279,495
Total disbursements... 1,096,300 1,141,170 1,227,609
164,427
I P H H .....................
253,164
164,468
180,747
$5,480,235 Surplus............................. • P H
Total net income...................................... $5,255,581
— ^ 5 0 * p. 314, 707, 834; V. 51, p. 416, 536, 715, 753; V. 52, p. 280,
7
Disbursements—
$2,651,120 571, 608/ 707, 718, 832; V. 53, p. 95. 368.)
Interest on debt............................................
694,258
General expenses, including taxes............
945,768
L o u isia n a W e stern .—(See Map o f Southern Pacific.)—Owns from
2,027,370
Dividends.....................................................
2,018,202
Lafavette, La., to Orange, Texas, 112 miles. Operated under lease by
the Southern Pacific Company, being part of the through line between
Total disbursements............................... $5,132,541
$5,372,748 New Orleans and Houston. The lessee pays all charges and turns over
Balance, surplus........................................ .
$123,040
$107,487 to this company 7 per cent of the total net profits of the Southern
—(V. 49, p. 52, 373, 539; V. 50, p. 137, 423, 706, 904; V. 51, p. 20, 51, Pacific Company, under the omnibus lease.
114, 6 l i , 680; V. 52, p. 162, 463, 761, 974; V. 53, p. 289.)
From January 1 to July 31, 1890 (7 months), gross earnings were
Litchfield. C a rro llto n Sc W e ste rn .—Owns from Barnett to Co, $533,091, against $626,682 in 1890; net, $165,082, against $314,563.
lumbiana, 111., 52 miles. Operated in close connection with the Chicago In 1890, gross, $1,160,331; net, $586,094; surplus over charges, $434,558 • amount of net profit due this company as per lease, $172,199. In
Peoria & St. Louis—which see. Stock, $600,000.
L ittle M ia m i.—Owns from Cincinnati, O., to Springfield, O., 84 1889, gross, $1,101,569; net, $486,981. Stock is $3,360,000 (par $100),
miles; branch, Xenia, O., to Dayton, O., 16 miles; leases, Columbus <e all but $50,000 of which is owned by Southern Pacific Co.
f
Xenia RR., Xenia, O., to Columbus, Ohio, 55 miles; Dayton <e Western
f
Eva
RR., Dayton, O., to Indiana State Line, 38 miles; Ohio State Line to o fL o u isv ille Terren s v ille & St. L o u is Consolidated.—(See Map
Haute Railroad.)—Operates from Louisville, Kjr.,
Richmond, Ind., 4 miles; Cincinnati Street Connecting RR., 2 miles; to Evansville &
East St. Louis, 111., 274 miles, with branches to Evansville, Rooktotal operated, 198 miles.
I
„ „ „, _ , port, Cannelton, etc., in Indiana, 93 miles; total, 367 miles. Also owns
On December 1, 1869, leased to the Pittsburg Cincinnati <cSt. Louis
f
<eCarondelet Railway, leased
f
for 99 years, renewable forever. The Pennsylvania Railroad Company Venice miles. Of the main line the to East St. Louis Connecting Rail
wav. 6
following portions
is a party to the contract and guarantees its faithful execution. Road under trackage rights: Louisville to New Albany, 6 miles;are operated
Walnut Hill
is now operated by Pittsburg Cincinnati Chicago <e St. Louis Railway
f
Jompany. Rental is 8 per cent on $4,943,100 and interest on debt. to Centralia, 7*a miles. The line from Belleville to Centralia, 111., was
completed in June, 1890.
_ . ___ _ . . .
_ , ...
j i addition to above bonds there is $100,000 6 per cent permanent
This company is a consolidation made in 1889 of the Lomsvllle
capitalized debt; interest January and July. Lessee’s report for this
Evansville & St. Louis and several other companies. It belongs to the
road shows net loss to lessee: In 1886, $468,680; in 1887, $298,405;
in 1888, $421,355; in 1890, earnings, $2,081,322; net, including income “ Mackey” system. See application to New York Stock Exchange in
from investments, $346,945; net loss to lessee, $384,451, against ^Under the consolidate«? mortgage (New York Security < Trust Com
&
$385,873 in 1889. The Little Miami Co. does not admit these losses.
In January, 1890, stockholders voted to authorize the issue of $3,000,- pany and Josephus Collett, trustees), $3,700,000 bonds are reserved to
000 7 per cent bonds (to be issued to the lessee from time to time in retire at maturity the several issues of prior first mortgage bonds, and
75 the $670,000
payment for betterments), and also $3,000,000 stock, into which the $500,000 to retire at of consolidated unassented second mortgap
(See abstract
bond shall be convertible. Negotiations with lessee are still pending, bonds. mortgage bonds were to bear 2mortgage in V. 49, p. 208.) The
second
per cent interest m 1888 and
and no convertible bonds had been issued prior to March 15,1891.
1889 3 per cent in 1890, 4 per cent in 1891, 5 per cent m 1892 and 6
—(V. 49, p. 300, 434, 580, 789; V. 50, p. 71,174; V. 51, p. 51.
per cent thereafter. Common stock, $3,790,747; preferred, $1,300,000,.
.
L ittle R o c k & M em ph is.—
'Owns from Little Rook, Ark., to Missis 5 per cent, non-cumulative; par, $ 100 .
From Julv 1,1891, to Aug. 31, 1891 (2 months), gross earnings on
sippi River, opposite Memphis, 135 miles. The Memphis <eLittle Rock
f
Road was sold in foreclosure in 1872, again in 1877 and again in 1887. 373 miles were $270,159, against $242,032 on 373 miles in 1889-90.
Stock, $3,250,000; par, $100. From January 1 to Aug. 31,1891, gross Fiscal vear ends June 30. In year 1890-91 approximate g^ss earn
eamines were $409,916, against $336,229. For three months ending ings on 386 miles were $1,484,582. Report for 1889-90 was in V. 51,
March 31,1891, gross, $182,368; net, $56,707. In 1890 gross earn p. 679.
ings were $621,630; net, $188,707; interest on debt, $159,500; sur
1889-90.
1888-89.
plus, $29,207. Rudolph Fink, President, Memphis, Tenn.
373
373
Miles operated............................................- - - —... 3 J3 '
$
9 .
L ittle S c h u y l k i l l . —Owns from Port Clinton to Tamanend, 28
$1,169,412
miles Leased to the Philadephia <cReading Railroad for 93 years from Gross earnings..................................... - - - -..........$1,127,039
f
$1,127,039
July 7, 1868. Extra dividend of l*a per cent was paid July 7,1888, Net earnings.......................... - - - - .......................... $33£,591
$416,318
... $330,591
34,635
and of 1 per cent January 11,1890.
...
29,586
Other receipts................................ .......................
23,poo
L o n s I s l a n d . —Owns from Long Island City, N. Y., to Greenport,
$450,953
...$360,177
$360,177
N Y 1 miles; Long Island City to Great Neck, 14 miles; Bush-wick
M
Total net income.............................................
to Sag Harbor, 98 miles; branches, 81 miles; total owned, 287 miles. Interest on bonds........................... ................. .... $251,365
$329,618
Lease! Smithtown « Port. Jefferson RR., 19 miles; Stewart’s RR. to Rent of track, etc.......... .............................. — ... 14, ipd
fc
17,724
14,155
Bethpage, 14 miles; Stewart’s RR. to Hempstead, 2 miles; New York
< Rockaway RR., 4 miles (and 5 miles unoperated); Brooklyn <eJamaica Balance, surplus...............................................- -.. $94,657
fc
f
$103,611
- $94,657
RR. 10 miles; New York Brooklyn < Manhattan Beach Railway and
&
• íil E i 0 8
—(V. 50, p. 107, 834, 874, 876; V. 51, p. 679.)) tiíC :-* 3U8
branches, 20 miles; total leased, 69 miles. Total of all, 356 miles.
BONDS.
AND
STOCKS
R A IL R O A D
September, 1891. J
S eptember,£1891,]
K A IL K O A D STO CKS A N D
73
BONDS.
Subscribers w i l l con fer a great fa v o r b y g iv in g Im m ediate notice o f an y e rro r discovered In tbese T ables.
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When Due.
of
Par
For explanation of column headings, &c., see notes of
Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
Whom.
on first page of tables.
Dividend.
Louisville A Nashville—(Continued.)—
46
Cecilian Br.IstM..Cecil.to Louis. ,s.f.,dr’n at 100.c*
E. H. & N. IstM., Henderson to Nash.,dr’n at llO.c* 135
Louis. & Nash, general M., gold, drawn at 110.c* 802
10-40 Adjustment M.,g. (red’mableaft. 1894).c* 785
L. C. &Lex. lstM.,s.f.(notdr’n)Louis.toNewp’t.c* 175
2 d mortgage, sinking fund, hot drawn............c* 175
Lou. & Nash bonds, S.&N. Ala. RR., 2dm. as col.c* 189
45
Pensacola Division 1st m., g. (drawn at 105). .c*
N. O. & Mobile Div. 1st M., N. O. to Mobile, gc*
2d M., N. O. to Mobile, g................................ c* i l l
Southeast & St. L. Div. 1st Mort., g ..................c* 208
2d M., g., East St. L. to Evansville & br___c* 208
Gen. mort. L. C. & L., gold...............................c* 175
1st M. (50-year 5s), g., $15,000 p.m................ o* 118
1st mortgage, collat. trust ($7,000,000), gold.c*
fcr
Unified mortgage for $75,000,000, gold___c*< 1,079
Henderson Br. Co. IstM., g., drawn at 105. ..o*
1st M, Lou. Div.—New Albany to Mich. City.. .c*
1st M., gold, Chic. & Ind’polis Div.,Chic, to Ind.c*
Consolidated mortgage gold (for $10,000,000) .o*
General mortgage, gold, $25,000 p. m................c*
Louisv. N. 0. A Tex.—1 st M., g., for $16,900,000...c
2d mort. income bonds, cum. (payable at 105) .o*
Income bonds (not cumulative).............................
Louisville St. Louis A Texas—1st M.,g.,$2,800,000.c*
2 d mortgage.......... ....................................................
Louisville Hardinsburg & Western 1st mortgage.
288
158
512
512
797
797
797
121
121
42
1877 $ 1,000
$825,000
1879
1,000
2,240,000
1880
1,000
11,563,000
1884
1,000
4,531,000
1867
1,000
2,850,000
1877 100 &c.
892,000
1880
1,000
1,960,000
1880
1,000
580,000
1880
1,000
5,000,000
1880
1,000
1 ,000,000
1881
1,000
3,500,000
1881
1,000
3,000,000
1881
1,000
50,000
1887
1,000
1,764,000
1888
1,000
5,032,000
1890 l , 000 &c 8,231,000
1881
1,000
1,838,000
100
6,400,000
1880
1,000
3,000,000
1881
1,000
2,300,000
1886
1,000
4,700,000
1890
1,000
2,800,000
1886
1,000
16,132,000
1886
1,000
8,851,000
1886
1,000
10 ,000,000
1887
1,000
2,440,000
1887
1,000
250,000
1889
1,000
630,000
IiO nlsvllle & N ash ville .—((S Map.)—Line op R oad .—Main line
■
ee
—Cincinnati, O., to New Orleans, La., 921 miles; St. Louis to Junction
near Nashville, 308; Memphis to Memphis Junction, 259 (to Cincinnati,
487); branches, 728; total mileage on which eaminga were based June
30,1890, 2,216 miles.
(Of the above mileage 1,885 miles are owned absolutely and through
«took, while the Nashville & Decatur RR. (Nashville to Deoatur, 119
miles; other lines, 24 miles; total, 142 miles), is leased, and the South
& North Alabama RR. (Decatur to Montgomery, 183 miles, and branch,
■ miles), is operated for account of that company).
6
Also operates under lease for account of various companies 88
miles; and owns the Richmond Branch (leased to Kentucky Central) 34
miles, and the Cecilian Branch (leased to Chesapeake Ohio &
Southwestern), 46 miles. Controls, by ownership of a majority of
stock, the Nashville Chattanooga & St. Louis RR., 652 miles; the
Owensboro & Nashville, 89 miles; the Pensacola & Atlantic, 160 miles;
the Nashville Florence & Sheffield RR.. 91 miles; and Henderson
Bridge and connecting track, 10 miles—total, 1,170 miles; also, as joint
lessees with the Central of Georgia, is interested in the Georgia RR. and
its auxiliaries, 721 miles. Grand total of roads owned leased and con
trolled by ownership of stock June 30,1890, was 4,107 miles.
A line connecting with the Clinch Valley Division of Norfolk & West
ern was completed in June, 1891. In June, 1890, the Nashville
Chattanooga & St. Louis leased the Western & Atlantic (Atlanta to Chat
tanooga, 138 miles) for 29 years from December 27. The Alabama
Mineral RR., 129 miles, was taken into the system January 1,1891,
See V. 51, p. 460. In December, 1890, the stock of the Kentucky Cen
tral was acquired, control being assumed February 1,1891. See that
■company and V. 51, p. 876 and V. 52, p. 939.
Organization , L eases, &c.—The Louisville & Nashville was char
tered March 2,1850, and opened between Louisville and Nashville
November, 1859. The liabilities for interest on the auxiliary roads are
treated mostly as belonging directly to the Louisville & Nashville Co.
"The fiscal year ends June 30. Annual election is held early in October.
Stock and B onds.—In 1889-90 the stock was increased $13,000,000
for the purpose of retiring the 6 per cent collateral trust bonds of 1882.
This reduced the annual interest charge by $600,000, and the sinking
fund charge by $100,000, in all *700,000.
In July, 1891, it was voted to increase the stock from $48,000,000 to
=$55,000,000, the purpose of the increase being the purchase of the
.Kentucky Central RR., the subscription to the new issue of Nash. Chat.
■ St. Louis stock, < c Of the new stock $4,800,000 was taken by
&
fe .
¡stockholders of July 21 at 70.
Dividends since 1880.—In 1880, 8 , and 100 per cent in stock; in
1881, 6 ; in 1882, 3; in 1888 and 1889, 5 in stock; in 1890, 6 , of which
4aio in stock; in 1891, February, 2*2 in cash; August, 2 %.
Price of stock—In 1880, 77®174; in 1881, 79® 210 *2; in 1882,46%®
100%; inl883, 4058® 581 ; in 1884, 22%®5138; in 1885, 22®51%; in
2
1886, 335g®69; in 1887, 54%®70%; in 1888, 505s®64%; in 1889, 56%
<®87%; in 1890, 65%®92%; in 1891, to Sept. 18 inclusive, 65'7
s®82 38.
•The 10-40 adjustment mortgage of 1884 (trustee, Central Trust Co.)
besides 783 miles of road covers $28,162,700 of stocks and bonds. See
V. 39, p. 409, and V. 51, p. 463.
The Evansville Henderson & Nashville bonds are drawn at 110 by lot
annually, in September; $30,000 a year till 1895, then increasing each
five years until $150,000 per year is finally reached.
The Pensacola Division bonds are subject to a drawing sinking fund
$5,000 till 1900, inclusive, then $10,000, and so increasing.
The general mortgage bonds of 1880 are subject to a drawing sinking
fund or 1 1 -1 0 per cent of all bonds issued, plus the interest that would
have accrued on all the bonds so drawn—about $190,178 in all in
1890-91.
In June, 1890, the “ unified.” mortgage (trustee, Central Trust Com
pany) for $75,000,000 was authorized, $41,917,660 bonds being re
served to retire all prior liens (none of the prior iiens can be extended),
the balance for improvements, extensions (at the rate of $32,000 per
mile, including equipment), and for other purposes. The mortgage cov
ers (besides 1,080 miles of road and its equipment) $16,209,700 stock
of companies controlled, which is subject only to the 10-40 adjustment
mortgage, and $6,498,400 stock and $1,100,000bondsfreefromany
lien. See abstract of mortgage in V. 51. p. 613.
Operations, F inances, &c.—The Louisville & Nashville system has
been developed in its present extensive form sinoe 1879; the 100 per
<jent stock dividend was declared in 1880 and a few dividends after
wards in cash, but from 1882 to 1888 nothing was paid. From Febru
ary, 1888, to i890 stock dividends were paid to represent surplus earn
ings. The August, 1890, dividend was paid partly in cash.
From July 1,1891, to July, 31, 1891 (1 month), gross earnings were
$1,866,791, against $1,545,182 in 1890; net, $691,201, against $537,876; mileage, 2,856, against 2,248 miles.
Fiscal year ends June 30. In the following the figures for 1890-91
were issued in advance of the regular report. For 1889-90 the report
was in Y. 51, p. 439, 455, 459.
M. & S.
7
6 g. J. & D.
6 g. J. & D.
6 g. M. & N.
7
7
6
6
6
6
6
3
6
5
5
4
6
g.
g.
g.
gg.
g.
g.
gggg.
J.
A.
A.
M.
J.
J.
M.
M.
M.
M.
M.
J.
M.
& J.
& O.
& O.
& s.
& J.
& J.
<c s.
f
& s.
& N.
& N.
& N.
& J.
<c S.
f
N. Y., 23 Nassau St.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Mch.
Dec.
June
Nov.
Jan.
Oct.
Apr.
Mch.
Jan.
Jan.
Mch.
Mch.
Nov.
May
Nov.
July
Sept.
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1907
1919
1930
1924
1897
1907
1910
1920
1930
1930
1921
1980
1931
1937
1931
1940
1931
6
J. & J. N. Y., Chase Nat. Bank. July 1, 1910
Aug. 1, 1911
do
do
6 g. F. & A.
Apr. 1, 1916
do
do
6 g. A. & o.
5 g. M. &
4 g. M. &
M. &
5
M. &
6
6 g. F. &
M. &
6
6
J. &
N.
do
do
8 . N. Y., R. T. Wilson & Co.
8 . N. Y., when earned.
do
do
S.
A. N. Y., Central Trust Co.
8 . N. Y., Company’s office.
J.
do
do
May 1, 1940
Sept. 1, 1934
Sept. 1, 1934
Sept. 1, 1934
Feb. 1, 1917
March, 1917
Jan. 1, 1919
INCOME ACCOUNT.
1887-8.
1888-9.
1889-90.
1890-91.
$
$
$
$
Receipts—
Net eam’gs inoL invs’ts. 6,621,534 6,950,420 8,065,598 7,880,158
Disbursements—
410,237
Taxes........ ...... i .............
375,557
401,112
397,721
Interest on debt, &c_
_ 4,394,803 4,605,493 4,524,694 4,208,201
3,453
23,376
90,339
Georgia RR. deficit___
189,992
Pens. & Atl. RR. deficit.
238,943
199,425
186,203
15,502
Ala. Minn. RR. deficit..
Dividends........................ t l,518,000 t l,594,800 12,405,367 2,400,000
Total disbursements..
Balance, surplus*___
6,530,756
90,778
6,824,206
126,214
7,604,324
461,275
7,223,932
656,226
* To be deducted from surplus in 1886-7, $100,591. To be added to
surplus for amounts to be refunded, in 1887-88, $218,869; In 1888-89,
$424,961; in 1889-90, $125,800.
t Stook dividends 5 per cent,
t 4*90 per cent stock and 1*10 cash.
I In 1890-91 there was a
T
profit on the Georgia Railroad of $62,530.
—(Y. 51, p. 21, 84, 43 9 , 4 5 5 , 4 5 9 , 494, 569, 613, 876; Y. 52, p. 81,
279, 427, 497, 498, 863, 899; V. 53, p. 21, 58,126, 256, 370.)
L o u is v ille N e w A lb a n y &. C hicago.—fSee Map)—Owns from
New Albany, Ind. (opposite Louisville, Ky.), to Michigan City, Ind., 289
mile; Indiana State line to Massachusetts Avenue, Indianapolis, 162
miles; proprietary lines—Bedford < Bloomfield RR., Bedford, Ind., to
fe
Switz City, 43 miles; Orleans West Baden & French Lick Springs Ry.,
Orleans, Ind., to French Lick Springs, 18 miles; total owned, 512 miles.
Operates under contract—Chicago to State line, 20 miles; New Albany
to Louisville. 3 miles; in Indianapolis, to depot, 2 miles; total operated,
537 miles. A lease for 999 years with Chicago & Western Indiana (of
whose stock this company owns $1,000,000) at $127,000 per year
gives entrance to Chicago.
The Louisville New Albany & Chicago was opened in 1852 and sold in
foreclosure December 27,1872, and reorganized. In August, 1881, con
solidated with Chicago & Indiana Air Line. The Bedford & Bloomfield
RR. and the Orleans west Baden & French Lick Springs Ry. have no
debt, and their entire capital stock is deposited as security for the
Louisville New Albany & Chicago consolidated mortgage.
In October, 1890, stockholders voted to extend the road 30 miles to
the Brazil coal fields in Cook and Clay counties, Ind., to extend the French
Lick Springs road to Evansville and to acquire terminal property in
Indianapolis. See V. 51, p. 609, 787. The construction of the 30-mile
branch to the Brazil coal fields has been undertaken under the title of
the Fort Wayne Terre Haute & Southwestern Railway Company.
In April, 1891, a syndicate composed of Calvin S. Brice, Samuel
Thomas, John Greenough, and others, agreed to advance $1,960,000 to
take up the floating debt, etc., receiving in return $2,800,000 general
mortgage bonds, and $1,400,000 of new stock. Gen. Thomas then
became President and all litigation was discontinued. See Y. 52, p.
534, 571, 608.
The general mortgage of 1890 is for $25,000 per mile of road now
owned or hereafter acquired, but of this amount $ 10 ,000,000 bonds are
reserved to retire the 1sts as they mature. Trustee Central Trust Co.
From January 1 to July 31,1891 (7 months), gross earnings on 537
miles were $1,551,872, against $1,422,425 in 1890; net, $335,397,
against $387,501.
Fiscal year ends December 31. Earnings have been as follows:
INCOME ACCOUNT.
1887.
1889.
1888.
1890.
$
$
$
$
Gross earnings................... 2,295,623 2,292,782 2,495,823 2,630,132
Net earnings......................
805,925
868,105
957,186
999,253
Deduct—
Interest on bonds............... 549,814
651,781
581,775
573,965
Rentals, taxes, &c............. 258,641
276,345
212,373
282,458
864,233
850,310
864,144
Total charges............... 803,455
Balance...............................sur. 2.469 sur. 3,872 sr. 106,876 sr.135,109
Samuel Thomas, President, New York. (V. 51, p. 21, 206, 276, 416,
608, 787; V. 52, p. 81,321,390, 4 2 5 , 427,463, 534, 571, 574,608, 643.)
L o u is v ille N e w O rlean s & T ex as.—(See Map.)—Main line,
Memphis, Tenu., to New Orleans, La., 456 miies ; Riverside Division,
Coahoma, Miss., to Riverside Junction, 151 miles ; other branches. 53
miles; Natchez to Jackson, Miss., 100 miles; Clarksdale to Minter City,
40 miles; total, 800 miles. For road under construction see V. 51, p. 21.
This road was built in the interest of the Huntington system of roads,
and forms the connecting link in that system across the Continent from
Norfolk to San Francisco. The income bonds are a first mortgage on
750,000 acres of land in the Yazoo Delta. The second mortgage bonds
are “ incomes,” receiving interest only when earned ; but no interest
EARNINGS, EXPENSES, ETC.
was payable till March 1, 1889 ; unpaid interest is cumulative, and
1887-88. 1888-89.
1889-90.
1890-91.
bears interest (if earned) at the rate of 5 per cent ; these bonds may be
Mileage June 30...............
2,119
2,181
2,216
2,344
paid off at 105. The Union Trust Co., of New York, is trustee of the
$
$
$
$
first and second mortgages. Capital stock, $5,000,000 ; par, $100.
Gross earnings...............16,360,241 16,599,396 18,846,004 19,220,729
From January 1 to July 31,1891 (7 months), gross earnings were
Net earnings................... 6,092,706 6,273,311 7,426,912 7,162,284 $1,957,010, against $1,476,400 in 1890; net, $424,954, against $209,Perct. of exp. to eami’gs
62*76
62*21
60*59
........
237 ; mileage operated in 1891, 800 miles; in 1890, 668 miles.
74
IN V E S T O R S ’
SUPPLEM ENT.
[V ol . L I I.
S e p t e m b e r , 1891.]
K A IL R O A D
STOCKS
AND
BONDS,
75
76
IN Y E S T O R S »
SUPPLEM ENT.
[Y ol. L ili,
Se p t e m BEß,
1801.]
R A IL R O A D S T O C K S A N D B O K D S
77
Subscribers w i l l confer a great fa v o r by g iv in g im m ediate notioe o f an y e rro r discovered in these T ab les.
Bonds—
Princi
RAILROADS.
I
INTEREST OR DIVIDENDS.
----------- ------------------------------------------ — —----------- Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par IOutstandim Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. |
Bonds! Value.
Cent. Payable
Dividend.
Whom.
Louisville South.—IstM. for $5,000,000, g., guar.c* 126 1890 $500&c. $4,175,000
21
20
Lykens Valley—St’k,10p.c.rental, 999 yrs. Nor.Cent
600,000
Lynchburg < Durham—1st M.$20,000 p.m., gold, c” 115 1890
&
1,000
2,012,000
1890
1,000
Macon dt Atlantic—lstmort., g. ($20,000 p. mile).o’1
(?)
95 1890
1,000
Macon d Birmingham—1st M. for $20,000 per mile
k
(?)
Macon < Northern—1st mort. gold, guar. p. &i . . .c* 107 1891
£
1,000
2,200,000
100
4,503,500
Maine Central—
Stock.................................................
55 1860-1 100 &e.
Andros. & Hen. RR. 1st mortgage..................... e
642,200
71 1865 100 &c.
Port. & Kennebec con. M.,Port. to Aug.&brch..e
1,166,700
30 1866 100 &c.
Androscoggin RR., Bath City loan....................... c
421,500
Me. C. loan for $1,100,000, Danv. Jc. to Bangor, c 109 1868 100 &c.
756,800
18 1870 500 &c.
Extension 1st M., Cumberland June, to Dan. .c
496,500
36 1871 100 &o.
Leeds & Farm. RR. 1st M., Leeds to Farmington.c
633,000
1872 100 &c. 4,176,700
Me.C. 1st M., cons., A. B. C. D. ($269,000 5s)...c*
1872 100 &c.
Do
Class B ............................................................
469,000
Collateral trust bonds for Mt. Desert Branch— o * 41 1883
687,000
1885
Sinking fd. 10-20s g., red. on or aft. Feb. 1 ,’95.. .c
1,000
600,000
1886-7
450,000
Improvement bonds, “ A ” and “ B.” ............. . —
5Î6 1869 50Ó &c.
1,000,000
European & North American (Bangor loan).......c
60 1870 500 &c.
800,000
Portland & Ogdens. 1st M. g., int. guar. M. Cent.. c
1,000
1,008,000
Consol, mort. $20,000 p.m. (guar.Maine Cent.J.c 108 1888
53 1890
Hereford R’y 1st mortgage, guar...........................
800,000
1890 500 &c.
Upper Coos RR. 1st mort. for $350,000, guar---• (?)
33 1890
Extension mortgage, $21,000 per mile..............
(?)
26
100
Manches. < Law.—Stock,10 p.c.ren’l till 1937,B.&M.
&
1,000,000
32
100 30,000,000
Manhattan Elevated.—Consolidated stock................
... .
1,905,035
Dividend bond certificates. (See remarks)........ r
18 1878
1,000 10,818,000
Metropol. El. 1st mort., $600,000 p. m., $ & £.c*
18 1879
1,000
2d mortgage (guaranteed by Manhattan). . . . . o*
4,000,000
14 1876
N.Y. EL 1st M.(payable at 105 aft. 1895)$&£.c&r
1,000
8,500,000
Earnings and charges have been as follows:
1888.
515
$
Gross earnings............................... 2,434,334
Net earnings...........................
652,442
Deduct—
Rentals...........................................
7,137
Interest on bonds........................
445,600
Taxes............................................
64,684
Miscellaneous.................................
33,937
5 g. J. & J. Louisville, Kv., Office. July 1, 194®
Q.—J. N. Y., Office, 13 Wm. St. Oct. 1, 1891
Jan. 1, 194®
New York.
J. & J.
M. & N. Nov.,’90, coup, last paid Nov. 1, 194®
M. & N.
1940
M. & S. N. Y. ,BrownBros.&Balt. Mar. 1, 199®
Aug.15, 1891
F. & A. Portand, Me., Office.
M’nthly Bost., 2dNat.Bk.&Port. Various, 1891
July 1, 1895
do
do
A. & 0.
do
do
Various, 1891
Q.—J.
July 1, 189®
do
J. & J.
do
do
do
Oct. 1, 190®
A. & 0.
do
do
July 1, 1896
J. & J.
do
do
Apr. 1, 1912
A. & O.
do
Apr. 1, 1912
db
A. & O.
do
do
June 1, 192»
J. & D.
do
do
Feb. 1, 1905»
F. & A.
do
do
July,’16&’17
J. & J.
J. & J. Boston, Merch. Nat. Bk. Jan. 1, 1894
J. & J. Bost., 2dNat.Bk.&Port. July 1, 190®
M. & N.
do
do
Nov. 1, 190»
M. & N. Boston, Mass. Nat. Bk. May 1, 193®
May 1, 193®
M. & N.
M. & N.
May 1, 193®
M. & N. Manchester and Boston. May 2, 1891
Oct. 1, 1891
N. Y., 71 Broadway.
Q .-J.
At Co.’s option
A. & O.
do
do
J. & J. N. Y., Mercantile Tr. Co. July 1, 1908
do
Nov. 1, 189»
M. & N.
do
6
do
Jan. 1, 190®
do
J. & J.
7
213
5 g5 g.
5 g4*2 g.
3
6
6
6
7
6 g.
6
5 &7
4*2
5
6 g4i|
6
6 g.
5
4
4
4*2
5
1*3
4
6 g.
the Mercantile Trust & Deposit Co. of Baltimore, or the New York Se"
curity & Trust Co. See Georgia Southern & Florida. The Macon A
s
1890.
Atlantic (which see) is projected by same parties from Macon to the
796
coast at Colleton on Port Royal Sound. See V. 51, p. 538; V. 53, p. 325.
$
3,236,566
M aco n D u b lin Ac S a van n a h .—Road about completed from
834,138 Macon to Dublin, 54 miles; projected to Savannah, 99 miles additional.
Built by the Illinois & Georgia Improvement Company of Chicago. No
1,637 bonds have been issued. D. M. Hughes, President, Macon, Ga.
4,387
589,520
500,980
M aco n & N o rth e rn .—Owns from Macon, Ga., to Athens, Ga.. 105
67,504
91,883 miles. Successor to the Covington & Macon, which defaulted Sept. 1,
29,650 1890, and was sold in foreclosure May 21,1891. In 1891 leased for 99'
29,767
years, renewable forever, to the Richmond & Danville and the Central
Total.............
712,690 of Georgia, the lessees jointly guaranteeing interest and principal o f
551,358
602,638
Balance, surplus.
121,447 the bonds. This guaranty is on each of the bonds, which, limited to »
101,084
*438,019
total of $ 2 ,200 ,00 0 , retired old issue and provided for improvements,
* Other sources of income were: Sale of Bolivar County bonds, $105,- &o. See V. 52, p. 321; V. 53, p. 223.
000; from operations of roads pending purchase, $72,004—making sur
From January 1 to March 31,1891 (3 months), gross earnings were
plus for year, $615,024.
$36,293, against $38,222 in 1890; net, $5,217, against $7,144.
R. T. Wilson, President, New York. (V. 48, p. 854; V. 49, p. 2 3 4 ,4 7 1 ;
In 1890 gross earnings were $150,739; net over surplus and taxes,
V. 50, p. 205, 312, 377, 588; V. 51, p. 21; V. 52, p. 427, 428.)
$24,745. (V. 51, p. 303, 383; V. 52, p. 80,164, 321, 680, 795; V. 53,
L o u is v ille St. L o u is Ac T e x a s .—(See Map.)—Louisville to Hen p. 223.)
derson, Ky., 142 miles, of which it owns Henderson to West Point, 121
M a in e Central.—Line of road, Portland to Vanceboro, Me., vip
miles (completed April, 1889), and uses by contract with Chesapeake & Augusta, 251 miles; branohes, Cumberland Junction to Skowhegan,
Ohio Southwestern West Point to Louisville, Ky., 20 miles; owns also 91 miles; Bath to Lewiston and Farmington, 76 miles; branches-—'
from Irvington to Fordsville, Ky., 44 miles, and branch 1 mile; total Belfast, Dexter, Bucksport and Mt. Desert Ferry, 132 miles; Portland A
s
operated, 166 miles. In July, 1891, the Louisville Hardinsburg & Ogdensburg Railroad, Portland, Me., to Lunenberg, 109 miles; small
Western RR. was absorbed. See V. 53, p. 126. The first mortgage branohes, 6 miles; Upper Coos and Hereford railways, Lunenberg, N. H.»
bonds are for $2,800,000, of which $360,000 are held in trust for ex. to Lime Ridge, Quebec, 108 miles—
steam ferry, 7 miles; total, 773
tending road to Louisville, if at any time deemed advisable. Trustee of miles; also in 1891 leased for 1,000 years the Knox & Lincoln Rail-1
mortgage, Central Trust Company. July 1, 1891, there were out way, Bath to Rockland, Me., 50 miles, assuming its liabilities and pay
standing $281,218 and $107,157 bills payable. Stock, $3,000,000; par, ing $5.00 a share on 2,000 shares of stock.
$ 100.
In September, 1891, $900,000 new stock was issued at par to stock
From July 1 to August 31, 1891 (2 months), gross earnings (not holders to pay for double tracking, improvements and equipment of new
including the Fordsville Division) were $81,289, against $71,010 in road acquired in 1890.
1890; net, $39,402, against $31,715. In year ending June 30,1891,
Of the stock $2,264,375 is owned by Boston & Maine. The Hereford
ross earnings were $429,415; operating expenses, $250,493; net, and Upper Coos railways are leased for 999 years and their bonds guar
178,922.
anteed. The Coos division was opened in May, 1891.
W. V. McCracken & Co., 42 Wall Street, New York, Financial Agents.
In August, 1888, leased Portland & Ogdensburg for 999 years and
See full statement to New York Stock Exchange in Ch ro nicle , V. 49, guaranteed its bonds; rental 1 per cent on stock for first three year*
p. 146; (V. 49, p. 146,434; V. 51, p.[416, 715; v752, p. 498; V. 53, p. 126; and 2 per cent thereafter.
4 07.)
There are also $58,000 5 per cent debenture bonds, due February,
L o u is v ille Southern.—Owns from Louisville, Ky., southwesterly 1894, $42,000 Shore Line 6 per cents, due 1923, and $175,000 Dexter
to Burgin on Cincinnati Southern Railroad, 83 miles, with branohes to & Piscataquis 4s, due July 1,1929.
Lexington and Georgetown, 47 miles; total, 130 miles. Lease to Louis
Dividends since 1876 have been: In 1882, 2 per cent; in 1883, 5 *2 ;
ville New Albany & Chicago was terminated in March, 1890. (See V. from 1884 to August, 1891, both inclusive, at the rate of 6 per cent
50, p. 834.) The New Albany Company claims damages for the break yearly.
ing of the lease. See V. 52, p. 81. In July. 1890, leased for 99 years to
Fiscal year ends Sept 30. Report for 1889-90 was in V. 51, p. 874:
the East Tennessee Virginia & Georgia, which guarantees principal and
1886-87. 1887-88.
1888-89.
1889-90.
interest of the new 50-year 5 per cent bonds. All net earnings after pay Miles operated....................
535
627
647
741
ment of fixed charges are to be equally divided between the lessor and the
$
$
$
$
lessee. See V. 51, p. 51, 612. Stock, $3,500,000; par, $100. See state Total gross earnings........... 3,142,407 3,389,007 3,828,162 4,226,465
ment to New York Stock Exchange, Ch ro nicle , V. 49, p. 146; also ab Total net income................ 1,202,797 1,199,044 1,332,039 1,411,56»
stract of mortgage and lease, V. 49, p. 342 and 343.
From March 1 to December 31, 1889 (10 months), gross earn Rentals paid......................... 189,000
192,573
233,427
284,655
ings (as reported by Louisville New Albany & Chicago) wert Interest on bonds................ 717,068
734,031
798,391
821,165
$320,971; net, $144,286. (V. 49, p. 146, 269, 342, 471, 540; V. 50, p. Dividends............................. 215,598
215,604
215,616
215,61®
662, 834, 904; V. 51 , p. 51 , 276, 303, 457, 612; V. 52, p. 81.)
L y k en s V alley .—Owns fromMillersburg,Pa.,to Williamstown, Pa.,
Total disbursements...... 1,121,666 1,142,208 1,247,434 1,321,43®
20 miles; branch, 1 mile; total operated, 21 miles. It is a coal road, Balance, surplus................
81,131
56,836
84,605
90,127
leased and operated by the Northern Central Railroad since July, 1880, —(V. 49, p. 823; V. 50, p. 735; V. 51, p. 874; V. 52, p. 939.)
and previously by the Summit Branch Railroad. The lease is for 999
M anchester Ac L a w re n c e .—Owns from Manchester, N. H., to*
years from March 1,1866, and the rental is $62,500 per annum.
4
From January 1 to August 31 in 1891 (8 months), gross earnings Methuen (State Line), 2 2 1 miles; leases Methuen Branch, 3% miles?
total operated, 26 miles. Road in operation since 1849.
from coal and mining operations were $619,741, against $638,381 m
Leased for 50 years from September 1,1887, to Boston & Maine at a
1890; deficit, $19,643, against net of $1,781. In 1890 gross, $956,826;
rental paying 10 per cent dividends, at which rate dividends had been
net, $11,264, against deficit of $20,773 in 1889.
paid for many years. Suit has been instituted to recover $1,000,000,
L y n c h b u rg Ac D u rh a m .—Completed in 1890 from Lynchburg, said to be due from Concord Railroad.
Va., to Durham. N. C., 114 miles; projected to a connection with
M a n h a tta n E levated.—Road operated, 32-39 miles. This corpor
Raleigh & Augusta RR., 25 miles from Durham. Mortgage isfor$3,000,000, at $16,500 per mile of completed roadand $3,500 per mile addi ation was formed November 24,1875, to lease and operate the two
tional for equipment; trustee, Mercantile Trust Company. Stock au elevated railroads in New York City. The original lease of May 20,
thorized, $2,000,000; outstanding, $1,876,500 (par, $100), of which city 1879, guaranteed 10 per cent per annum on the stocks. In June, 1884,
of Lynchburg took $250,000, ana Halifax, Campbell and Durham coun all liabilities were assumed and new stock was issued by the Manhat
ties, $310,000. From Jan. 1, to Aug. 31,1891 (8 months), gross earn tan Company, viz.: For Manhattan, 85 per cent in new stock; for New
ings on 114 miles were $115,422, against $59,421 on 83 miles in 1890. New York, 120 per cent; for Metropolitan, 110 per cent, making the
whole stock $26,000,000. In May, 1891, $4,000,000 stock was issued
President, W. C. Houston, Philadelphia. (V. 49, p. 52; V.51, p. 84,)
for the acquisition of the Suburban Rapid Transit Railroad, which
M a c o n Ac A tlan tic.—Projected from Sofkee, Ga. (6 miles from owned a bridge across the Harlem River, and had a road in operation,
Macon), to Savannah, Ga., and to Colleton, S. C., on the Atlantic Coast, to near 176th Street, N. Y., 2*2 miles. See Y. 52, p. 642.
about 200 miles. The Macon Construction Co., which had the contract
There
considerable claims pending against
for
for building the road, failed in March, 1891, and construction ceased. damage areproperty on their lines, and many ofthe elevated roadsthe
to
these are before
In August, 1891, it was reported that arrangements for continuing con courts. See V. 51, p. 494. The consolidated mortgage (trustee, Central
struction had been completed. The New York Security & Trust Co. is Trust Co.) was authorized in February. 1890. It is limited on present
mortgage trustee. V. 53, p. 156.
mileage to $40,000,000, and will provide for prior bonds when due, for
M aco n Ac B ir m in g h a m .—Projected from Macon, Ga., to Birming floating debt, &c. Further amounts may be issued for extensons if de
ham. Ala.. 230 miles, and completed from Macon Junction to La Grange, sired at the rate of $300,000 per mile of single and $600,000 per mile of
95 miles. Built by the Macon Construction Co.,which went into receiver’s double track. iSee abstract of mortgage in Y. 51, p. 248, and applica
hands in March, 1891. In September, 1891, Messrs. Gill, Shaw & Ober tion to New York Stock Exchange in full in V. 52, y. 353.) The scrip
of Baltimore consented to act as a committee and invited the bond issued for dividends is convertible into new 100 -year 4 per cent consofe
holders to deposit their holdings, under a bondholders’ agreement, with and is redeemable at option of company. Cash dividends were resumed.
Miles operated December 31.......
f
1889.
657
$
3,031,115
1,040,657
IN V E S T O R S ’
SUPPLEM ENT.
V ol. L in .
S eptem ber , 1891.]
R A IL R O A D
STO CKS
AND
79
BO NDS.
Subscribers w i l l confer a great fa v o r b y g iv in g im m ediate notice o f an y e rro r discovered in these Tables.
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Dividend.
Whom.
Cent. Payable
Manhattan Elevated—(Concluded.)—
N. Y. El. deb., secured by consol, mort. of 1890..
32
Consolidated mortgage, gold................................c*
32
Maricopa < Phoenix—1st mortgage, gold..................
6
35
Marietta d North Georgia—1st M., gold, $7,000 p.m.
k
Con.lst.M.,g.,$4,500,000,s.f.$15,000 after 1897c*
Marquette Houghton <6 Chiton.—See Dul. S. S. & Atl.
Mem. d Charleston—Tenn. State loanfor$l,736,906
k
94
1 st mortgage, extended............................................
2 d mortgage, extended...........................................c
Consol., gold ($1,400,000 1st on 93 m. in Tenn.)c* 292
General mortgage, gold...................................... c&r 292
Mexican Central—1st mortgage (unassented)..........
Consol, mortgage, gold, $32,000 per mile___c*&r 1,832
1st consol, incomes,gold, non-cum.($9,600p.m.)c* 1,832
2d con.inc.$6,400p.m.red.at50p.c.till Aug. 1929c* 1,832
Registered income bonds, unassented................ r
Mexican National—IstM., ¿..subsidy, dr’n atlOO.c* 1,064
2dM.,ser.“A,” g., inc. accum. (for $16,675,000)0* 1,064
2d M.,ser.“B,” g., inc. non-ac. (for $16,675,000).r 1,064
3d mortgage, deb. (income not cumulative) gold.r
1886
1890
1886
1881
1887
$ 1,000
1854
1,000
1867
1,000
1877
1,000
1884
1,000
1,000
1881
1889
1,000
1889
1,000
1889
1,000
1,000
1881
1,000
1887
1887 50Ö &c.
1887 500 &c.
1,000
1887
in April, 1890, after four dividends of 1*2 per cent each had been paid
in scrip.
Dividends in 1884, 3 per cent; in 1885 to 1887, inclusive, 6 ; in 1888,
5 ; in 1889,1 in cash and 4 ^ in scrip; in 1890, 4*2 cash and l*n scrip;
in 1891, Jan., 1*b; April, l^a; July, 1 *2 ; Oct., 1*2—in 1891 all in cash.
Priees of stock—In 1884, 64*2®79; in 1885, 65® 123^; in 1886,102®
175; in 1887, 9 2 ^ 1 6 1 7 8 5 in 1888, 77%®9838; in 1889, 90® 109 V , in
1890, 92® 117; in 1891, to'Sept. 18, inclusive, 95®109.
Fiscal year changed to end June 30. Statement for 1889-90 was in
V. 51, p. 414. In the following the figures for 1889-90 and 1890-91 are
for year ending June 30—all others for year ending September 30:
1887-88. 1888-89.
1889-90. 1890-91.
$
$
$
Gross earnings*.................. 8,673,871 9,080,881 9,388,681 9,959,710
Net earnings....................... 4,015,681 4,222,176 4,534,476 4,984,569
Interest, rentals and taxes. 2,096,939 2,117,770 2,050,804 2,387,982
Dividends............................ 1,300,000tl,430,000 tl,560v
000 1,560,000
Surplus........ ................ 618,741
674,407
923,672 1,036,587
* includes other income.
t 3 per cent in cash and 3 per cent in dividend bond scrip.
Number of passengers carried and gross earnings have been:
Tear end.
Year end.
Sept. 30. Passengers. Earnings. Sept. 30. Passengers. Earnings.
188485... 102,354,729
$7,000,566
187879... 46,045,181 $3,526,825
188586...115,109,591
7,426,216
187980... 60,831,7574,612,976
87... 158,963,232
8,102,662
188081... 75,585,7785,311,076188688... 171,529,789
8,673,871
188182... 86,361,0295,973,63318871888-89... 179,497,433 9,080,881
188283... 92,124,9436,386,506
188384... 96,702,6206,723,8321889-90*..185,833,632 9,302,681
* Year ending June 30.
—(Y. 51, p. 206, 207, 248, 414, 681, 494, 719; V. 52, p. 238, 322, 351,
353, 642, 707, 832; V. 53, p. 224.
M a ric o p a & Phoenix.—Owns from Maricopa, Arizona, on the South
ern Pacific Railroad, to Phoenix, Arizona, 35 miles. Stock is $600,000
(par, $100). In year ending June 30,1890, gross earnings were $90,442; net, $34,083; interest, $32,400; taxes (less other income), $2,713 ; defioit, $1,030. President, N. K. Masten, San Francisco.
M arietta & N o rth G eo rgia.—Owns road completed in Au
gust, 1890, from Knoxville, Tenn., to Marietta, Ga., 217 miles;
Dranch, 7 miles; trackage, Western & Atlantic Railroad, Marietta, Ga.,
to Atlanta Ga., 20 miles; total operated, 244 miles. At Knoxville con
nection is made with the Knoxville Cumberland Gap & Louisville,
which affords access to the coal fields near Cumberland Gap, and to
the Louisville & Nashville system. Interest defaulted Jan. 1,1891, and
J. B. Glover appointed permanent receiver on Feb. 23. There are to
be issued $ 1 ,100,000 of receiver’s bonds in order to put the road in good
condition. Stock issued, $1,560,000. The Central Trust Company of
New York is trustee of the consolidated mortgage. Mortgage on line
from Marietta to Murphy, 112 miles, is at rate of 816.000 a mile, and on
Knoxville extension $20,000, average rate being $17,300. (V. 49, p.
616; Y. 51, p. 345; V. 52, p. 121, 165, 350,463.)
M arquette H o u g h t o n & O nton agon.—See D uluth South
Bh ore & A tlantic .
M a ry la n d C entral R a ilw a y .—See B alt im o r e & L e h ig h .
M em ph is & C harleston.—(See Map o f East Tennessee Virginia <•
£
Georgia.)—Owns from Memphis to Stevenson, Ala., 272 miles; branches
—to Somerville, 14 miles; to Florence, 6 miles; leases Stevenson to
Chattanooga, 40 miles; total operated, 330 miles. Of the consolidated
mortgage, $1,400,000 are secured by the old Tennesse State lien for
$1,736,906, assigned to a trustee, and thus stand higher in value. On
July 1,1890, there were $173,599 oar trusts outstanding, maturing 1891
to 1894. The stock is $5,312,725; par, $25.
The East Tennessee Virginia & Georgia RR. in September, 1885,
placed a majority of the stock (which it owns) in the Central Trust Co.
for control. The validity of this ownership of stock was contested. A
decision of the case in Alabama is expected by September, 1891. (See
V. 50, p. 703; V. 52, p. 831.)
From July 1,1891, to July 31,1891 (1 month), gross earnings were
$123,036, against $141,615 in 1890;'net, $29,087, against $32,252.
In the year ending June 30,1891, gross earnings were $1,747,430;
net, $509,843. In 1889-90 gross $1,783,729; net, $563,925; surplus
over charges, $136,331. (V. 50, p. 174, 703; V. 51, p. 276, 45 6, 612;
V. 52, p. 831.)
M ex ica n Central (M e x ic o ).—(See Map)—Mileage*-Main line
Mexico City north to El Paso del Norte, 1,224 miles, 406 miles on Tam
pico Division, 11 miles on Guanajuato Branch, 161 miles on Guadalaiara
Division, and 16 miles on the San Bias Division, and branches 13 miles,
made a total of 1,832 miles Jan. 1,1891. In September, 1891, it was re
ported that a line was about to be built from Tula to Pachnea, 45 miles.
The company was incorporated February 25, 1880, under the general
aw of Massachusetts, and by transfer the company holds a charter from
the Mexioan Government, granted December 5, 1874. The subsidy
from the Mexican Government was $15,200 per mile on most of the
ines, and in July, 1890, a contract was made by which all subsidy pay
ments on lines then constructed were discharged by the payment of
$14,865,594 in Mexican silver. The total subsidy collections from the
$ 1 ,000,000
9,300,000
540,000
554,000
3,281,000
1,000
1,000
1,000
1,000
In trust.
1,260,000
1 ,000,000
2,264,000
1 ,000,000
934,000
53,427,000
16,028,000
10,594,000
642,000
12,189,000
12,265,000
12,265,000
7,040,000
5
4 g.
6 g.
6 g•
6 g"7 "
7
7 g.
6 g.
(7) 4
4 g3 g.
3
3
6
6
6
6
g-
g.
gg.
M.
A.
M.
J.
J.
&
&
&
&
&
S. N. Y., Mercantile Tr. Co.
0.
do
do
N. N. Y., Farm. L. & Tr. Co.
July, ’90, last paid.
J.
do
do
J.
J. & J. N.Y.. Gallatin Nat. B’k.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
Boston.
J. & J.
Boston.
J. & J.
July 10 Boston, when earned.
do
do
July 10
July 1
do
do
J. & D. N. Y., Nat. City Bank.
M. & S.
April 1.
May 1
Mch. 1, 1916
Apr. 1, 1990
1916
July 1, 1911
Jan. 1, 1937
Jan. 1,
Jan. 1,
Jan. 1,
Jan. 1,
July 1,
July 1,
Jan. 10,
Jan. 10,
July 1,
June 1,
July 1,
July 1,
July 1,
1915
1915
1915
1924
1911
1911
1939
1939
1911
1927
1917
1917
1937
beginning, including this settlement, amount to about $17,000,000 in
American money. See V. 51, p. 909.
The $7,000,000 priority bonds were paid off with proceeds of subsidy
collections, interest ceasing April 10, 1891. See V. 52, p. 390. After
the payment of the priority bonds there was left of the subsidy about
$4,400,000 to be put m trust and used whenever necessary for the pay
ment of principal and interest of the consolidated mortgage bonds. In
July, 1891, it was reported that a portion of this money had been ap
plied to the purchase of the 4 per cent bonds, and that over $2,000,000
of them had been bought at prices thought to average less than 70, and
deposited with the Boston Safe Deposit & Trust Company as trustee.
See V. 53, p. 21.
In 1889 a funding plan was agreed to. in accordance with which new
bonds were issued to retire old securities (see circular in full, Ch ronicle ,
V. 48, p. 191; also p. 292, 327). The consolidated mortgage 4s (trus
tee. Boston Safe Deposit & Trust Company) cover the entire
property, all old firsts deposited, and the subsidy earned and to
be earned. (See abstract of mortgage in Chro nicle , V. 49, p. 177.)
Both series of incomes are non-cumulative and secured by one' inden
ture to the American Loan & Trust Company. First consolidated in
comes received 3 per cent interest July 10,1890, and 3 per cent in July,
1891. Capital stock, $46,902,600; par, $100.
Prices of stock—In 1886,13%®14; in 1887, 1113® 2 2 ; in 1888,12%®
le ^ ; in 1889, lS ^ ® 18; in 1890,16®31I2; in 1891, to Sept. 18 inclusive,
17 58®243i .
From January 1 to July 31, 1891 (7 months), gross earnings in
Mexican currency were $4,025,153, against $3,660,014 in 1890: net,
$1,427,958. against $1,194,386; mileage, 1,803 miles, against 1,527 in
1890.
The annual report for 1890 in V. 52, p. 716, 723, gave a full account
of the affairs of the company and its prospects, with earnings, balanoe
sheet, &c. In the following the gross earnings are given in Mexican
currency, all other figures in V. S. currency.
INCOME ACCOUNT—(T S. CURRENCY EXCEPT GROSS EARNINGS).
J.
1887.
1888.
1889.
1890.
1,4611,527
Av. miles operated.........................................
Receipts—
$
$
$
$
Gross earnings, Mex. cur. 4,886,578 5,774,331 6,337,225 6,425,694
Net earns., &c., U. S. cur. 1,680,295 1,748,459 2,096,056 1,978,157
Net subsidy received.....
204,845
474,922
812,912
601,127
Miscellaneous.......... ¡............................
1,273
22,542
17,953
Total net income....... 1,885,140 2,224,654 2,931,510 2,597,237
T/
V
Interest on coupon notes.
316,313 316,313
91,981
......
Interest on 1st mortgage.
1,254,677 1,357,717 1,767,595 2,406,114
Interest on debentures...
250,000 250,000
180,067
28,467
74,612
77,575
105,881
261
Miscellaneous M................
Total............................... 1,895,602 2,001,605 2,145,524 2,434,842
Balance.......................... def.10,462 sr.223,049 sr.785,986 sr.162,395
—(V. 50, p. 2 4 4 ,2 7 5 ,6 6 1 . 6 6 7 , 801, 834; V. 51, p.114, 240, 538,
609, 909; V. 52, p. 203, 390, 681. 7 1 6 , 723, 831; V. 53, p. 21.)
M exica n N atio n al R a ilr o a d (M e x ic o ).—(See Map.)—Owns
from Laredo to City of Mexico, 842 miles; Acambaro to Patzuaro, 96
miles; El Salto branch, 45 miles; Matamoras to San Miguel, 76 miles;
small branches, 5 miles; total owned, 1,064 miles; controls through
ownership of stock, Texas Mexican Railway, Corpus Christi to Laredo,
Texas, and branch, 163 miles; other lines, 5 miles; total owned and
controlled, 1,232 miles. This road was opened for traffic about Novem
ber 1,1888.
The foreclosure of the former company (Mexioan National Railway)
took place on May 23,1887, and the present company acquired 716
miles of road. It also controls the Texas Mexican Railway, owning all
its first and second mortgage bonds, and $2,453,750 of its capital stock
out of a total issue of $2,500,000.
The subsidy from the Mexican Government was $7,000 Mexican cur
rency per kilometer. Prior to default the former railway company
pledged $2,500,000 subsidy certificates to secure $5,000,000 of first
mortgage bonds, and at the re-organization this amount became
applicable to certain of the A and B bonds for which the $5,000,000
old first mortgage bonds were exchanged. In the re-organization also,
$7,000,000 subsidy certs, were pledged as additional security for the
$12,500,000 new first mortgage bonds, $3,000,000 of which subsidy
was then delivered to the trustees and $4,000,000 remained to be
earned. The construction of the 563 kilometers (350 miles) in the main
line earned $3,941,000 of subsidy, but of this amount $939,000 is ap
plicable for the benefit of the five million A and B bonds, leaving $3,002,000 applicable to interest upon the first mortgage bonds when net earn
ings are in deficit to meet the same, and afterwards for redemption of/
said bonds, subject, however, to a charge of $35,000 per year for five
years, payable to the Mexican National Construction Company. The
Sabinas coal road, 75 miles, on which a subsidy was payable, has not
been constructed. In the year 1890 $305,314 United States cur
rency was paid out of subsidy collections to make up deficiency
in net earnings to meet interest charges on first mortgage bonds. Ne
gotiations are pending with the Mexican Government for the conver
sion of the remaining certificates. The amount due is about $5,000,000 in Mexican dollars. See V. 51, p. 876.
«©
IN V E S T O R S ’
SUPPLEM ENT.
[Y ol.
l iii.
R A IL R O A D
S e p t e m b e r , 1891 ]
STO CKS
AND
81
BONDS.
Subscribers w i l l confer a great fa v o r b y g iv in g im m ediate notice o f an y e rro r discovered in these T ab les.
I
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,^When Due.
of
of
Stocks—Last
Par
For explanation of column headings, &c., see notes
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
on first page of tables.
M ichigan Central—Stock.............................................
•Consol, mort.—now 1st M. ($2,000,000 are 5s).e&r 270
M. C. Michigan Air Line, 1st mortgage............c&r 115
84
M. C. Gen. mort. on Grand River Val. RR.......c&r
39
M. C. 1st mortgage on Kalamazoo & S. Haven.c&r
84
•Grand River Valley stock, 5 per cent rental........
Detroit & Bay City 1st mortgage endorsed— c&r 147
Bridge bonds..........................................................
M. C. lstM.onDet.&BayCityRR.(regis Q.—M.)c&r 147
Jack. Lans. & Sag. con. M.,ext.in 1891, assu’d.c&r 295
18
Bay City & Battle Creek 1st mort., gold, guar...
41
Battle Creek & Sturgis 1st mort., gold, guar.......
Middletown Tin. < W. Cap—lstM.ext.25yrs.in’86.c*
6
13
2d mort. guar, interest, reduced to 5 per cent., .c*
Milwaukee Lake Shore < Western—Common stock..
&
Preferred stock, 7 per cent......................................
Consol, mort, (now 1st mort.) $12,000 p. m. gold
85
Michigan Div. 1st mort, gold (for $3,000,000) ..c*
40
Ashland Division 1st mortgage, gold..................c*
16
1st Ms.on Hurley & Onton.br cues (dr’n at 100) .c
Conv. debentures, secured by mort of 1889, g. .c* 531
Ext. & Imp. M. for $5,000,000, g., s. f. not dr’n. .c* 531
Income bonds (not cumulative)............................r
Equipment bonds of 1882 ($30,000 red. yearly)..
Equip, bonds 1885 ($100,000 drawn yearly)---- c
56
St. Paul East. Gr’d Trunk lst,M. gold,int. guar.c*
65
Milwaukee < Lake Winnebago—1st mort., gold.. .c*
&
Income mort., gold (cumulative) interest paid.c*
65
Debent., convert., gold, see remarks.............. ..c*
$100 $18,738,204
1872
1,000 10,000,000
1890 l.OOO&c 2,600,000
1,500,000
’79- 86 1,000
700,000
1889 l.OOO&c
491,200
50
1872
274,000
1,000
150,000
1873
1,000
3,576,000
1881 i,ooo& c
2,519,000
71&80 1,000
1889
250,000
1889
421,000
1866 100 &c.
150,000
250,000
1871 500 &o.
100
2,566,100
100
5,000,000
1,000
5,000,000
1881
1884
1,000
1,281,000
1,000
1,000,000
1885
1,000
125,000
1886
1,000
544,000
1887
1,000
1889
3,729,000
1,000
500,000
1881
1882
1,000
30,000
1,000
1885
400,000
1883
1,000
1,120,000
1882
1,000
1,430,000
1882
1,000
520,000
1884
1,000
239,000
The new first mortgage for $12,500,000 is a prior lien upon all the
lines in Mexico, constructed or to be constructed, and upon the above,
named securities. The bonds are redeemable on notice at par. Trus
tees Hugh M. Matheson and Charles Magniao. On Jan. 1,1891, $862,397 raised by sale of first mortgage bonds remained unexpended; $743.266 of this being in capital reserve fund, $69,543 in betterments fundand $49,589 held for debts of old company. In 1891 first mortgage
bonds for $319,000 were called and paid on June 1.
The 2d mortgage bonds, series “A.” are strictly cumulative, and not
foreclosable while stock remains In trust as below stated; the 2d mort
gage bonds, series “ B,” are non-cumulative; trustees, Lyman K. Bass
and J. A. Horsey. Third mortgage income trustees, C. J. Canda and H.
A. Risley. Stock, $33,350,000 (par $100), placed in trust with the
Farmers’ Loan & Trust Company, leaving the road in control of 1st and
2d mortgage bondholders until it earns and pays interest on both classes
of bonds for two consecutive years, in which event the control reverts
to the stockholders. See annual report for 1890 in Chronicle, Y. 52, p.
532, and description of property in V. 48, p. 627.
From January 1 to July 31, 1891 (7 months), gross earnings were
$2,403,448, against $2,148,863 in 1890; net, $647,592,against $425,066,
all "Mexican currency; mileage 1,218 miles in both years.
In year 1890 gross earnings (Mexican currency) were $3,754,966; net,
$827,006, equal in American currency to $661,604, to which add sub
sidy receipts,&c., $319,985; total net (Am. cur.) $981,589. Deduct inter
est on bonds, $809,500; miscellaneous, $135,654; balance (Am. cur.)
$36,435, representing earnings from Federal Government not yet
eolleciible. In 1889, gross, $3,660,124; net, $666,693; subsidy, &c.,
$203,534; total net, $736,888.—(V. 50, p. 451, 48 0 , 590; V, 51, p. 569,
8 7 6 ; V. 52, p.498, 532.)
M ic h ig a n C entral.—(See Map New York Central < Hudson
6
R iver.)—L i n e o f R o a d .— Main line—Kensington to Detroit, 270 miles
and Windsor to Suspension Bridge (Canada Southern), 226 miles:
total main line, 496 miles. Branches owned and leased—Michigan
Air Line Railroad, 115; Joliet & Northern Indiana, 4 5 ; Grand
River Valley, 84; Jackson Lansing & Saginaw, 295; Kalamazoo & South
Haven, 39; Detroit & Bay City,1 5 1 ; Saginaw Bay & Northwestern,
87; Toledo Canada Southern & Detroit, 59; Canada Southern Bridge
Company, 4 ; Michigan Midland & Canada, 15; Canada Southern
branches, 101; Sarnia Chatham & Erie, 7 ; Erie & Niagara, 31; Battle
Creek and Sturgis, 34; other, 35; total branches, 1,099 miles; trackage
Illinois Central, 14 miles; total operated January 1,1891,1,609 miles.
There are 241 miles of second track and 762 miles of side tracks.
O rg an ization , L eases , &c.—The Michigan Central was chartered in
1846; the whole line, Detroit to Kensington, was opened in 1852. The
lines described above as leased are all held by the Michigan Central
nominally under leases at fixed rentals, but are practically owned.
In November, 1882, a close contract was made with Canada Southern
for working its road by the Michigan Central and for the division of net
profits over all charges as follows—one-third to Canada Southern and
iwo-thirds to Michigan Central; but the Michigan Central is entitled to
an increase on this proportion as it diminishes its interest charge by
payment of bonds or otherwise, and hence it now obtains more than
two-thirds of the net income.
Stocks and B onds .—The Michigan Central stock has remained at the
same amount since 1873.
Dividends since 1870—In 1870-71,10 per cent; 1871-72,10; 1872-73,
5 and 4 in scrip; in 1874 to 1877, inclusive, nil; in 1878, 2; in 1879, 3^;
in 1880, 8 ; in 1881, 6 *2 ; in 1882, nil; in 1883, 5 ; in 1884, 3 ; in 1885
and 1886, nil; in 1887 and 1888,4; in 1889,4; in 1890, February, 2
•and 1 extra; August, 2 ; in 1891, February, 2 and 1 extra; Aug., 2 .
Price of stock: In 1880, 75'@1301 ; in 1881, 8 4 %@ 1261 ; in 1882,
e
2
77@105; in 1883, 77'@1001 in 1884, 51%'®94i2; in 1885, 46*2@79%;
e;
in 1886, 61*2@98%; in 1887, 80^95^2; in 1888, 72@92ie; in 1889, 84*2
@ 9 9 j ; in 1890, 83'3>104%; in 1891, to Sept. 18, inclusive, 871 @ 103 :1 .
4
2
2
The Jackson Lansing & Saginaw bonds were assumed by Mich. Cen
tral, which also pays $70,000 per year on the stock of $2,000,000.
The total issue of Battle Creek & Sturgis bonds is $500,000, but of
thi£ $79,000 was subguaranteed by the Lake Shore & Michigan South
ern, and appears in its debt, 7 miles of the B. C. & S. being operated by
that company.
Operations , F inances , &c.—The road is operated under a close con
tract with Canada Southern, and the earnings of both roads are included
in the statistics below.
In the first six months of 1891 the earnings (partly estimated) com
pared as follows with those in 1889 and 1890. See V. 53, p. 337:
1890.
1891.
1889.
Gross earnings............................$6,233,000
$6,843,000
$6,965,000
Net earnings............................... $1,809,000
$1,875,000
$1,830,000
Interest and rentals.................. 1,260,000
1,222,000
1,230,000
Surplus
--------------------Propor. to Can. South. Co........
$549,000
156,000
$653,000
181,000
$600,000
157,000
Leaves................................... $393,000
Dividends, 2 per cent................
374,764
$472,000
374,764
$443,000
374,764
Balance
$18,236
$97,236
$68,236
The annual report for 1890 was in V. 52, p.717, showing thefollowing:
2
7&5
4
6
5
F. & A. N. Y. Gr’d Cent. Depot.
M. & N. N. Y., Union Trust Co.
J. & J.
do
do
M. & S.
do
do
M. & N.
do
do
do
do
212 J. & J.
M. & N.
8
do
do
M. & N.
8
do
do
M. & 8.
5
do
do
M. & S.
5
do
do
3 g. J. & D.
do
do
3 g. J. & D.
do
do
5 g- M. & N. N. Y., N. Y. Susq. & W.
5
J. & D.
do
do
7
N. Y., N. Bk. of Com’roe.
do
do
3*2 F. & A.
6 g. M. & N.
do
do
6 g. J. A J.
do
do
6 g. M. & S.
do
do
6 g. A. & O. N. Y., S. S. Sands & Co.
5 g. F. & A. N. Y., Bk. of Commerce.
do
5 g- F. & A.
do
6
M. & N.
do
do
8
J. & J. N. Y.. S. S. Sands & Co.
6
J. & J.
do
do
6 g. J. & ,T
do
.
do
6 g. J. & J. N /5 ., 36 Wall St. & Bost.
T
5 g. J. & ,T
do
.
do
do
0 S’ At & Q,
49
Aug. 1, 1891
May 1, 1902
Jan. 1, 1940
Sept. 1, 1909
Nov. 1, 1939
July, 1891
May 1, 1902
May 1, 1901
Meh. 1, 1933
Sept. 1, 1901
Dee. 1, 1989
Dec. 1, 1989
Nov. 1* 1911
Dec. 1, 1896
Feb. 16,1891
Aug. 15,1891
May 1, 1921
July 1, 1924
Mch. 1, 1925
Apr. 1, 1896
Feb. 1, 1907
Feb. 1, 1929
May 1, 1911
Jan. 14, 1892
Jan. 1, 1900
Jan. 1, 1913
July 1, 1912
July 1, 1912
Apr. 1 , 1904
1887.
1888.
1889.
1890,
1,537
1,537
1,540
1,609
Miles operated.........
Gross earnings........$14,164,490 $13,770,523 $13,786,925 $14,490,711
Operating expenses. 9,875,246 10,086,606 9,895,158 10,731,754
Netearnings............... 4,289,244
P. 0. op. exp. to earns.
69-72
3,683,917
73*24
INCOME ACCOUNT.
1887.
1888.
3,891,767
7P77
3,758,957
74'06
1889.
1890.
Net, incl’g other inc.. 4,341,962
3,739,193
3,938,433
3,816,450
Rratalsr
paidL?íír....
184,310
Interest on debt........ 2,351,619
32,513
Miscellaneous ............
Can. Southern share..
540,870
184,310
2,336,782
15,938
339,161
184,310
2,328,216
7,731
407,444
184,310
2,270,022
134,723
355,633
Total...................... 3,109,312
2,876,191
2,927,7012,944,688
Surplus for div’d s ___ 1,232,650
863,002
1,010,732871,762
Dividends.................... (4)749,528 (4)749,528 (5)936,910(5)936,910
Surplus................
483,122
113,474
73,822 *def.65,148
* Balance to credit of income account Dec. 31,1890, was $2,099,392.
—(V. 50, p. 245, 6 6 0 , 662, 904; V. 51, p. 680,909; V. 52, p. 717, 831,
973 ; V. 53, p. 337.)
M id d le G eo rgia & A tlan tic.—In operation from Maachen to
Eatonton, Ga., and projected from Savannah to Atlanta, about 236
miles. Construction undertaken by the Seaboard Construction Com
pany, which owns most of the stock. J. D. Weed, Pres’t. ) V. 53, p. 126.)
M ilw a u k e e L a k e Shore & W estern ,—(See Map.)—Owns Lake
Shore Junction to Ashland, Wis., 387 miles; Monico to Hurley, 88
miles ; branches (seven in number) to Oshkosh, Wausau, &c., 115 miles ;
branches to mines, 30 miles ; spurs to mills, &c., 40 miles ; total owned,
660 miles ; leases, Milwaukee to Lake Shore Junction, 4 miles ; St. P.E. G. T., Clinton to Oconto, 56 miles, and spurs, 4 miles ; total leased, 64
miles ; total owned and leased, 723 miles ; but only 699 miles operated,
24 miles of spurs being leased to various manufacturers. A line from
Wausawto Marshfield, 42 miles, is to be completed in August, 1891.
For the completion of this line the common stock will be increased to
about $2,650,000. Successor in 1876 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 any time
within ten days after the date fixed for payment of dividends on common
stock. The equipment bonds are redeemable $30.000 per year at par;
the equipments of 1885 $100,000 per year at 105, and the Ontonagon
1st mort. $25,000 per year at par, and all redeemable at 105
The extension and improvement mortgage of 1889, (trustee, Central
Trust Company), covers the whole road, subject to prior mortgages, and
is a first lien on new branches. Under it are reserved sufficient bonds
to retire the debentures of 1887. Its sinking fund commences in 1893,
and will receive yearly not less than $25,000; these bonds are not
subject to call. Common stock authorized, $5,000,000.
Dividends—On common: In 1888,4 per cent; in 1889, nil; in 1890,
7 ; in 1891, 7. On preferred: In 1887, 7 ; in 1888, 7 ; in 1889, 6 ; in
1890, 7 ; in 1891, in February, 3 *2 ; in August, 3*2.
From January 1 to June 30, 1891 (6 months), gross earnings were
$1,544,271, against $1,761,433 in 1890; net, $491,434, against $649,210; fixed charges in 1891, $391,804; surplus, $99,630
The annual report for 1890 was in V. 52, p. 532.
1887.
1888.
1889.
1890.
œ
æ
$
$
Gross earnings........... 3,180,621
2,836,783
3,474,667 3,848,567
Net earnings............... 1,240,323
1,091,774
1,520,463
1,432,637
Other receipts...........
47,733
12,989
15,294
24,866
Total net receipts. 1,288,056
Interest paid*.............
517,687
Rentals and miscel..
31,307
Dividends....................
430,000
Rate of dividend........ 7 on p. 4 c.
1,104,763
579,305
29,593
300,000
6 on pref.
1,535,757
671,499
31,764
490,000
7 on both.
1,457,503
703,050
37,869
506,289
7 on both.
342,494
195,865
Balance.................
309,062
1210,295
i Of this balance $55,000 was used for redemption of bonds and
$105,000 for sinking fund.
(V. 51, p. 21,494,715,786; V. 52, p. 121,126,278,280, 532; V. 53, p. 95.)
M ilw a u k e e & L a k e W in n e b a g o .—Owns from Neenah to
Schleisingerville, Wis., 65 miles. Built in 1882 and leased for 99 years to
Wis. Cent, 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 $1,000,000 debentures were authorized to be issued as re
quired for improvements, and they are convertible on any coupon day
into preferred stock; the lessee pays interest on them during first ten
years after issue. Preferred stock, 6 per cent cumulative, $780,000:
common stock, $520,000 ;par of shares, $100. Dividend of 3 per cent
on preferred stock was paid July 15,1888, lO^e in 1889; 9 in 1890,
and 4*2 in January, 1891. Preferred stock is now regularly paying
(Jan. and July) its dividend of 4*2 per cent, being regular preference of
6 per cent,and, on account of accrued back dividend,an additional 3per
83
IN V E S T O R S ’
SUPPLEM ENT.
(Vol. l u i .
RONDS.
AND
S T O C X .S
R A IL R O A D
S e p t e m b e r , 1891. J
84
IN V E S T O R S ’
SUPPLEM ENT.
[V ol. U l i .
Subscribers w i l l con fer a great fa v o r by g iv in g im m ediate notice o f an y e rro r discovered in tbiese T ables.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
pal,When Due.
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
For explanation of oolnmn headings, &c., see notes of
Road. Bonds Value.
Whom.
on first page of tables.
Cent. Payable
Dividend.
Milw. dt Northern—1st mort., Schwarz.to Gr. Bay.c* 126 1880
Cons. M. ($17,000 p.m.),lst M. north of Gr.Bay.c* 362 1884
53
Mine H ill Schuylkill Haven—Stock 7*2 p. c. rental
17 1891
M ineral Range—
New consol. M., gold, red. at 105..c
27 1877
M inneapolis < St. L .—1st M.,Minn.toMerriam Jc.c*
ê
93 J 1877
1st mortgage^ Merriam Junction to State Line.c*
15 1877
1st M. Mmn.&Dul.,Minn.to White B.Lake,guar..c*
1st mort., gold, coup. (Al. Lea to Fort Dodge). .c* 102 1879
Imp. & equip. M., 1st & 2dser., jun. lienonroad.c* 360 1882
53 1880
Mort.on Southwestern extension($12,000 p.m.)c*
2d, M.,inc.,red.atl00, g.(WhiteB’rtoFt.Dodge)o* 224 1880
92 1881
Pacific extension, 1st mortgage, gold................ c*
Minn.St.P.<£S.Ste.Mar.—M.8. St.M.&At. IstM. g.c" 495 1886
Minneapolis & Pacific. 1st M., $15,000 p. m., g..c* 286 1886
Consol. M. (for $21,000,000), $20,000 p. m., g- -C* 800 1888
Missouri Kansas < Tex.—New stock($13,000,000pf.)
£
Teho. & Neosho 1st mort., gold, s. f., red. at 100.. i '00 1870
156 1880
Fast Line & Red River 1st mortgage.....................
New 1st mortgage, gold................... ....................... 1,601 1890
1,601 1890
New 2d mort., income for 5 years (non-eum.)gold.
67 1890
Dallas & Waco 1st M.,$20,000 p.m., g.,p.& i. gu.c*
15
Denison & Washita 1st mortgage, guar.................
1873
Booneville Bridge, leased, 1st M.,g.,gu.,dr’n at 100
Missouri Pacific—Stock..............................................
Pac. RR. of Mo. 1st mort., g., extended in 1888... 283 1868
2d mort., extended in 1891 in g old ................c 283 1871
1872
1st mortgage on depot in St. Louis.....................
1st mortgage Carondelet Branch, guar.............. " *13 1873
3d M. (covering all property of Pacific RR. of Mo.) 296 1876
55 1880
1st mort, on St. Louis & Lexington (Mo. Pacific).
Consol. M.,g.,$30,000,000 ($15,286,000 res’d)..c* 1,060 1880
$ 1,000
1,000
50
•500
1,000
500 &c.
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
1,000
500 &c.
500 &c.
1,000
1,000
1,000
100
1,000
1,000
500 &c.
500
1,000
500 &e.
1,000
cent—i. e., 9 per cent per annum in all. In 1890 gross rental was
$211,109; in 1889,$186,3 78.
M ilw a u k e e & N o rth e rn .—See C h i c a g o M i l w a u k e e & ST. P a u l .
M in e H i l l Jk S c h u y lk ill H a v e n .—Owns from Schuylkill Haven,
Pa., to Locust Gap. Pa., with branches, 53 miles. Road was leased May
12,1864, to the Philadelphia & Reading RR. Co. for 999 years at a rental
of $326,552 per year. There is no debt, and regular dividends of 71 per
2
«ent are paid. Operations are included in lessee’s returns.
M in e ra l R a n g e .—Houghton, Mich., to Calumet, Mich., 15 miles;
branch, Franklin Station to Franklin, 2 miles; total, 17 miles. This
road was under the H. S. Ives’ management, and October 1,1887, de
faulted in payment of interest. The receiver appointed in June, 1888,
was discharged November 30, 1889, and road restored to company.
In 1891 the old bonds were nearly all retired, the new capitalization
being $400,000 stock and $600,000 consolidated first mortgage bonds.
The new bonds cover all the property, including $250,000 of Hancock &
Calumet stock, which is five-sevenths of the whole issue.
From Jan. 1 to Aug. 31,1891 (8 months), gross earnings on 17 miles
were $91,003, against $79,446 in 1890.
In 1890 gross earnings, $125,469; net, $60,053. Gross earnings in
1889, $109,775; net, $47,845. President, Charles Bard; Secretary, John
.Tully, 40 WaU street. (V. 52, p. 390, 571.)
M in n e a p o lis & St. L o u is .—Owns main line, Minneapolis to Angus
la., 259 miles; Pacific Division, Hopkins to Morton, 92 miles; Kalo
Branch, 2 miles; Lake Park Branch, l ^ miles; total operated, 354*2
miles. Leases trackage rrom Minneapolis to St. Paul over St. Paul &
Northern Pacific Railroad; also owns from Minneapolis to White Bear,
12 mUes, which is leased to the St. Paul & Duluth Railroad.
Of the bonds issued under the 1877 mortgage, due June, 1927, those
numbered from 1,101 to 1,400, for $500 each ($150,000 in all, in addi
tion to those above), were assumed by the Burlington Cedar Rapids &
Northern RR. Preferred stock, $4,000,000 issued; common stock,
$6,000,000 issued; par of both $100 per share. The Jan., 1888, coupon
on equipment bonds went to default. W. H. Truesdale, President, was
appointed receiver in June, 1888, in the foreclosure suit under improve
ment and equipment mortgage. The suit is pending and reorganization
plan will soon be offered. The last coupon paid on each issue is shown
in the table above.
The Farmers’ Loan & Trust Company brought suit in May, 1891, to
get possession of that portion of the road covered by the mortgage of
which it is trustee. The case has been appealed to the Supreme Court
of Minnesota, and will probably be heard early in the fall. See Y. 52, p.
718, 940.
From July 1,1891, to July 31,1891 (1 month), gross earnings were
$151,831, against $124,326 in 1890; net, $60,711, against $38,055.
Fiscal year ends June 30. Report for 1889-90 was given in full in
C h r o n i c l e , Y. 51, p. 425. For year ending June 30,1891, gross earn
ings were $1,605;365; net, $536,220. In 1889-90 gross, $1,507,122;
net, $505,173. In 1888-89 gross earnings, $1,330,518; net, $332,960.
— (V. 49, p. 235, 340; V. 50, p. 71, 204, 205 ; V. 51, p. 84, 142, 425 ;
V. 52, p. 321, 608, 642, 681, 718, 940; V. 53, p. 368.)
M in n e ap o lis St. P a u l & Sault Ste. M a rie . — (S e e M a p .) —
From Minneapolis to Sault Ste. Marie, Mich., 491 miles; branches, 28
miles; from Minneapolis northwest to Boynton, Dak., 286 miles; total
completed, 805 miles. Formed May, 1888, by consolidation of the
Minneapolis Sault Ste. Marie & Atlantic, the Minneapolis & Pacific,
etc. (See V. 46, pp. 538, 609.) Controlled in the interest of the Cana
dian Pacific, which guarantees by endorsement 4 per cent interest on
the bonds. (See Y. 50, p. 784; V. 51, p. 239.) About one-half the
Minneapolis & Pacific bonds and practically all of the other issues have
assented to the reduction of interest to 4 per cent. Holders of-consols
assenting were to surrender 15 per cent of their holdings in ex
change for an equivalent amount of income certificates.
Abstract of Minneapolis Sault Ste. Marie & Atlantic mortgage in V. 45,
p. 243. The consolidated mortgage of 1888 (trustee, Central Trust Com
pany, mortgage abstract C h r o n i c l e , V. 47, p. 142) will retire the prior
bonds at maturity; see V. 52, p. 608. Stock—common, $14,000,000;
preferred, $7,000,000; par, $100.
From January 1 to July 31,18911(7 months), gross earnings were$l,165,618, against $1,107,893 in 1890; net, $400,147, against $319,799.
In 1890 gross earnings were $2,013.370; net, $669,004. In 1889,
'gross, $1,651,412; net, $609,570.—(V. 49, p. 373; V. 50, p. 801; V. 51,
p. 239, 416; V. 52, p. 280, 608.)
M isso u ri K a n s a s & T e x a s . — (S e e M a p .) R o a d O w n e d a n d
O p e r a t e d . —Owns from Hannibal, Mo., to Denison, Texas, 577 miles;
branches, Parsons, Kan., to Junction City, Kan., 157 miles; Denison,
Tex., to Whitesboro, 25 miles; Fort Worth to Taylor, 162 miles; Deni
son to Mineola, Texas, 103 miles; three small branches, 20 miles; total
owned, 1,044 miles, not including 54 miles leased to the Missouri
Pacific. Proprietary lines in Texas (entire stock owned): Denton,
Texas, to Dallas, Texas, 37 miles; Dallas to Greenville, 53 miles;
Whitesboro to Henrietta, 87 miles; Taylor to Boggy Creek, 90 miles;
San Marcos to Lockhart, 16 miles; Trinity to Sabine, 67 miles; Dallas
& Waco RR.—Dallas to Milford,"51 miles (extension since completed,
16 miles); total proprietary lines, 401 miles; total length of all owned
lines operated, 1,445 miles.
Operates jointly with Texas & Pacific—Fort Worth to Whitesboro, 71
miles. Leases Kansas City & Pacific Railway—Paola to Stevens, 130
miles; S. D. & D. Railway—Denison to Sherman, 10 miles; total oper
$2,155,000
6
J. <e D. N.Y., Ch. Mil. & St. Paul
f
4,003,000
6
do
do
J. & D.
4,081,900
4
J. & J. Phila.,Office, 119 8 . 4th.
600,000
5 g. J. <e J. New York, Agency.
f
455,000
7 g- J. <e J. Last paid July, 1891.
f
950,000
7 g- J. <e D. Last paid June, 1890.
f
280,000
7 g- M. & N. Last paid May, 1891.
1,015,000
7 g. J. & D. Last paid Dec., 1887.
4,000,000
6
J. & J. Last paid July, 1887.
636,000
7 g. J. & D. Last paid Dec., 1887.
500,000
7 g. J. & J. Last paid Jan., 1888.
1,382,000
6 g. A. & (). Last paid Oct., 1890.
10 ,000,000 4 (5 g.) J. & J. N. Y., Morton, B. & Co.
4,290,000 4 (5)
J. & J.
do
do
6,710,000 4 (5 g.) J. & J.
do
do
60,000,000
187,000
7 g. J. & D. N. Y., Central Trust Co.
39,000
6
J. & D.
New York.
39,774,000
4
J. & D. N. Y., Central Trust Co.
20 ,000,000
4 g- F. & A. N. Ÿ., when earned.
1,173,000
5 g. M. & N.
New York City.
305,000
6
J. & J.
726,000
7 g. M. & N. N. Y., Central Trust Co.
47,246,300
1
Q-—J. N. Y., Mercantile Tr. Co.
7,000,000
4 g. F. & A.
do
do
2,573,000
5 g. J. & J.
do
do
800,000
M. & N.
8
do
do
245,000
6 g- A. & ().
do
do
3,828,000
M. <c N.
f
7
do
do
650,000
5
F. & A.
do
do
14,904,000
6 g. M. & N.
do
do
June 1, 1910
June 1, 1913
July 15,1891
Jan. 1, 1931
Jan. 1, 1907
June 1, 1927
May 1, 1907
June 1, 1909
July 1, 1922
Deo. 1, 1910
Jan. 1, 1891
Apr. 1, 1921
July 1, 1926
Jan. 1, 1936
July 1, 1938
June 1, 1903
1910
June 1, 1990
June 1, 1990
Nov. 1, 1940
May 1, 1906
July 15,1891
Aug. 1, 1938
July 1, 1938
May 1, 1892
Oct. 1, 1893
Nov. 1, 1906
Aug. 1, 1920
Nov. 1, 1920
ated 1,656 miles. Also operates the Denison & Washita RR., 15 miles
The Holden branch additional, 54 miles, is owned by Missouri Kansas &
Texas, but leased to Missouri Pacific. East Line & Red River RR.—
Jefferson to McKinney 153 miles (of which 121 miles narrow gauge)
has been operated separately by W. M. Giles as receiver since July 1,
Org an ization , H is t o r y , &c .—The Missouri Kansas & Texas Company
was organized April, 1870. In May, 1881, it was leased to the Mo. Pa
cific, but on June 1,1888, default was made on interest payments and a
foreclosure suit was begun. H. C. Cross and George Eddy were appointed
receivers in October, 1888. Reorganized in 1890, without foreclosure,
in accordance with the plan of the Olcott Committee in V. 49, p. 719,
the old first mortgage being paid off at par. The receivers were dis
charged July 1 and Mr. H. C. Cross was elected President. See V. 52,
p. 899; V. 53, p. 21.
In 1890 leased for 99 years the Kansas City & Paoiflc, now a part of
the main line to Kansas City.
The East Line & Red River RR., most of whose securities are owned
by this company was placed in the hands of W. M. Giles as receiver in
July, 1891. See V. 52, p. 641.
In September, 1891, acquired the Denison & Washita RR., a coal road
15 miles in length, and guarantees its $305,000 bonds.
The company has a land grant in the Indian Territory of 3,622,400
acres, subject to the extinguishment of the Indian title. The Booneville
Bridge Company is a separate organization.
The stock of the International & Great Northern Railroad was ac
quired by Missouri Kansas & Texas in May, 1881, by an exchange of
two shares of Missouri Kansas & Texas stock for one of International &
Great Northern. This stock (97,284 shares), in accordance with the
reorganization plan, is held jointly by the Missouri Kansas & Texas
and Missouri Pacific, the control being vested in Mr. F. P. Olcott, who
holds 1,000 shares.
Stock and B onds .—The new stock is $13,000,000 4 per cent noncumulative preferred and $47,000,000 common. Price of new pre
ferred stock: In 1890, 16 L ® 311 ; in 1891, to Sept. 18, inclusive,
2
8
19V®29%.
Full abstracts of the new first mortgage (trustee Central Trust Company)
and of the new second mortgage (trustee Mercantile Trust Company)
were in V. 51, p. 495. Both mortgages cover the securities of proprie
tary lines, as well as the lines owned directly. Payment of interest on
the new second mortgage bonds is not obligatory till after Aug. 1,1895.
Interest is guaranteed on $2,500,000 Kansas City & Pacific 4 per cent
bonds and $752,000 Booneville Bridge 7s, and principal and interest on
Dallas & Waco bonds (issue limited to $2,000,000.)
The company’s interest charges will be as follows: Interest on $39,774,000 new lsts, $1,590,960; interest on $226,000 Tebo & Neosho and
East Line & Red River bonds, $15,430; total fixed interest charges,
$1,606,390; interest on $20,000,000 second mortgage 4s (not a fixed
charge till after August 1,1895), $800,000; total interest charges ahead
of preferred stock, $2,406,390.
From Jan. 1 to Aug. 31,1891, gross earnings on 1,546 miles were $5,332,579, against $5,114,538 on 1,650 miles in 1890. For the same
period the Kansas City &] Pacific, gross earnings were $231,495,
against $209,916 in 1890.
Report for 1 8 9 0 was in C h r o n i c l e ,V . 5 2 , p. 6 4 0 . Earnings, etc., have
been as follows:
ADD AAIlD U .
iD D
TRAFFIC AND EARNINGS.
1890.
1889.
1,711
Miles operated (average).................. ..............
1,777
Total gross earnings ....................................... $7,922,444
$9,004,005
$6,351,862
Operating expenses.................................. $6,245,006
$2,652,143
Net earnings...................
$1,677,438
70-54
P.c. of op. exp. to earns, (exclu. of extraod’y
70-22
RECEIVERS’ INCOME ACCOUNT.
1889.
Receipts—
$
Net earnings, including other receipts........ $1,737,622
Disbursements—
Interest on bonds, etc................
$99,648
Rental K. C. & P. RR.....................................
............
T a x e s.......................................................
187,266
18 9 0 .
$
$ 2 ,7 0 1 ,4 8 9
$62,931
99,096
162,280
Total disbursements................................. $286,914
$324,307
Balance............................................................. $1,450,708
$2,377,182
—(V. 51, p. 172. 416, 457, 494, 495, 538 ; V. 52, p. 121, 204, 428, 463,
609, 6 4 0 , 641, 796, 899, 902, 973 ; V. 53, p. 21, 95.)
M issou ri Pacific.—R o ad Ow n e d and Ope r a t e d .—Operates main
line St. Louis, Mo., to Omaha, Neb., 496 miles; Pleasant Hill, Mo., to.
Joplin, Mo., 133 miles; Verdigris Valley Independence & Western RR.
and extension—Leroy to Deering, Kan., 81 miles; Leroy & Caney Val
ley—Roper to Peru, Kan., 52 miles; small lines in Kansas, Missouri and
Nebraska, 686 miles; total Missouri Pacific system proper, January 1,
1891,1,448 miles, of which 1,194 miles are owned and 254 miles oper
ated under lease.
Also operates certain “ branch lines ” which have a separate corpor
ate existence, but which are nevertheless an integral part of the sys
tem, most of their bonds being pledged to secure Missouri Pacific
issues. The branch linos include the Kansas & Colorado Pacific, etc.,
affording a direct line from Ottawa, Kan , t» Pueblo, Col., 540 miles,
the Kansas City Fort Scott & Wichita—Fort Scott to Kiowa. Kan., etc
Se p t e m b e r ,
1891. J
R A IL R O A D
STO CKS
AND
BONDS,
85
86
IN V E S T O R S ’
SUPPLEM ENT,
LVo l . l u i .
Subscribers w i l l confer a great fa v o r b y g iv in g Im m ediate notlee o f an y e rro r discovered In tbese Tables.
Bonds—Princi
RAILROADS.
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
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
M issouri Pacific—( Continued.)—
Collateral trust bonds, gold ($15,000,000).. .c*&r 1,120 1887 $ 1,000 $14,376,000
5 g. M. & 8 . N. Y., Mercantile Tr. Co. Jan. 1, 1917
1,000
Collateral trust bonds for $10,000,000 gold___c*
1890
7,000,000
5 S■ F. & A.
do
do
Aug. 1, 1920
1,000
Boonville St. Louis & Southern RR. 1st mort......
44 1886
400,000
6
Aug. 1, 191jl
F. & A.
do
do
1,000
Ler. & Caney Val.RR.lst M.,g.gu. ($10,000 p.m.)c*
80 1886
520,000
5 g. J. & J.
do
do
July 1, 1926
1,000
Verdigris Val. Independence & W. 1st M.,g.,guar.
75 1886
750,000
5 g. M. & S.
do
do
Feb. 1, 1926
M issouri Pacific System—St. Louis Iron. Mt. <fTSo...
1,000
St. Louis Iron Mt. & So. 1st mortgage.................. c 210 1867
4,000,000
7
F. & A.
Aug. 1, 1892
do
do
1,000
2 d mortgage, gold...............................................c* 310 1872
6 ,000,000
7 g. M. & N. New York or London. May 1, 1897
1,000
Arkansas Branch 1st mort., gold, land gufint..
99 1870
2,500,000
7 g. J. & D. N. Y., Mercantile Tr. Co. June 1, 1895
1,000
Cairo Ark. & Tex. 1st..................................c*<
fcr
71 1872
1,450,000
7 g. J. & D.
do
do
June 1, 1897
Gen. consol, and land gr. M. for $45,000,000. .g 1,272 ’81to’7 1,000 18,528,000
5 g. A. & O.
do
do
Apr. 1, 1931
1,000
Do
do
stamped, guaranteed............... 1,272
6,956,000
5 g- A. & 0.
do
do
Apr. 1, 1931
Car trusts, series D. and E....................................
894,000
do
do
1,000
Kansas & Arkan. Val. 1st M. $20,000 per m., g. 165 1887
3,400,000
5 g- J. & J.
do
do
Jan. 1, 1937
Little Rock & Ft. Smith 1st M.,land gr. sihk.furiiL. 165 1875 500 &c.
2,342,500
7
J. & J.
do
do
Jan. 1) 1905
7
Ten-year coupon notes (scrip)..............................
356,510
J. & J. Boston, E. Atkin & Co.
1,000
Little Rock Junct’n 1st & 2d M. ($35,000 are 2d).
2 1884
435,000
7
A. & O.
do
do
April, 1914
1,000
Mobile & Birm.—1st, gold, guar. ($20,000 p. m
.).c<fcr 147 1887
3,000,000
5 g. J. & J. N. Y., Chase Nat. Bank. Jan. 1, 1937
1,000
Mobile <t Dauphin Isl.—1st M. g. (for $3,000,000) .c
1888
350,000
6 S’ F. & A. N. Y.j Of., 32 Nassau St.
1928
1,000
Mobile < Girard—3d mortgage ($200,000 are 6 s)..c
6
85 1877
1 ,000,000
4 & § J. & D. N. Y. Security & Tr. Co. June 1, 1897
Mobile < Ohio—1st M., g., Mob. to Colum., 472 m.c* 472 1879 500 &c. 7.000.
6
000 6 ff« J. & D. N. Y., Farm. L. & Tr. Co. Dec. 1, 1927
1,000
1st mort., extern,gold,Colum. to Cairo & branch.c*
55 1883
1 .000 .
000 6 S’ Q.—Jan.
do
do
July 1, 1927
General mortgage for $10,500,0001. g. s. f ..........c 527 1888 500 &c.
8,169,000
4
M. & S. N. Y., Gallatin Nat. Bk. Sept. 1, 1938
Equipment bonds ($60,119 of these are car trusts)
’84-’90 1,000
808,792
6
Quar’ly.
New York City.
Var., ’91-1900
1,000
Monterey < Mex. Gulf—1st. M. g., $25,000 per m.c* 29Ï 1888
6
7,275,000
5 g. M. & N, New York and London. Nov. 1, 1938
1,000
Montgom d Eufaula—1st, s. f., $15,000 not dra’n.c*
k
81 1879
1,500,000
6
J. & J. N. Y. Security & Tr. Co. July 1, 1909
1,000
Mont. Tusc. < Mem.—1st M., gold, $18,000 per m.e*
&
1889
2,070,000
6 S’ J. & D. N. Y., Office, 45 Wall St. July 1, 1929
1,000
Morgan’8 La. d Tex.—1st M. (N. O. to Morgan City) c* Ì 02 1878
k
5,000,000
7
A. & O. N.Y.,S.Pac.Co.,23Broad Apr. 1, 1918
1,000
1st mortgage, Alexandria Extension, gold............ 157 1880
1,494,000
6 S’ J. & J.
do
do
July I) 1920
310 miles. Their total mileage January 1, 1891, being 1,697 miles.
Total Missouri Pacific and branch hues, 3,145 miles.
Also operates Central Branch Union Pacific, 388 miles; Sedalia War
saw & Southern, Sedalia to Warsaw, 42 miles; St. Louis Iron Mountain &
Southern and leased lines, 1,550 miles; total, 1,980 miles. Grand total
Missouri Pacific mileage January 1,1891, 5,125 miles Since acquired,
Houston Central Arkansas & Northern, McGehee, Ark., to Riverside,
La., 118 miles, and Fort Scott & Eastern, 27 miles.
Organ ization , L eases , &c.—The Pacific RR. of Missouri was sold in
foreclosure September 6,1876. The present company was a consolida
tion in August, 1880, embracing the Missouri Pacific and a number of
minor roads.
The St. Louis Iron Mountain & Southern stock is mostly owned by the
Missouri Pacific, much of it having been acquired in May, 1881, by ex
change of three shares of Mo. Pac. for four snares of Iron Mountain.
Stock 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 have been: In 1881, 6 ; in 1882,6%; in 1883
to 1887, inclusive, 7 yearly; in 1888, 5%; in 1889,4; in 1890,4; in 1891,
January, 1; April, 1; July, 1.
Price of stock—In 1883, 86@10678; in 1884, 63%@100; in 1885, 89%
@ 11 1 %; in 1886,100%@119; in 1887, 84%@112; in 1888, 66%@89%;
In 1889, 64%@78; in 1890, 53 '3> ’9 :1 ; in 1891 to Sept. 18, inclusive,
'7 4
’« 0%@75%.
The 2d mortgage bonds of Paciflo RR. of Mo. maturing July 1,1891,
were extended at the rate of 5 per cent per annum, gold, until July 1,
1938, the present security and lien remaining in force. See V. 52, p. 761.
The consolidated mortgage above is for $30,000,000—trustees John F.
Dillon and Edward D. Adams. Of the consolidated bonds the balance
unissued is in the hands of trustees to redeem prior bonds as they fall
-due. See abstract of mortgage containing descriptions of prior liens,
■C ronicle . Y. 47, p. 287.
h
The collateral trust bonds due 1917 (Union Trust Company of New
York, trustee) are secured by mortgage bonds of new railroads at
3J>12,000 or $15,000 per mile. For securities pledged, &c., see Ch ronicle ,
Y . 46. p. 678.
As to collateral trust bonds due in 1920, see V. 50, p. 669, 874. An
increase of stock to $55,000,000 was authorized in July, 1890, of which
¡$ 1 ,000,000 to be given as bonus with the $ 10 ,000,000 collateral trust
bonds, $2,000,000 in exchange for Iron Mountain stock, and the remain
der to be issued as the stockholders may from time to time determine.
’The Leroy & Caney Valley Railroad in Kansas, 80 miles, is leased and
bonds guaranteed by Missouri Pacific as also the Verdigris Valley Inde
pendence & Western. The Booneville St. Louis & Southern RR. (Booneville to Versailles, Mo., 44 miles) is leased at $25,000 per annum.
Operation s , F inances , &c.—The annual report of Missouri Pacific
for 1890 was in the Ch ronicle , V. 52, p. 425. The gross earnings, oper
ating expenses and surplus earnings o f all lines operated for the years
1888,1889 and 1890 were as follows:
A ll lines—
1888.
1889.
1890.
Miles operated, average..................
4,813
5,019
5,125
Total earnings................................. 22,189,453 23,49^467 25,370,344
Total expenses................................. 15,852,842 15,532,883 18,002,729
Surplus earnings....................... 6,336,611
7,960,584 7,367,615
Ratio op. exp. to gross earn............71-44 p. c. 66-12 p. c. 70-96 p. c.
For the Missouri Pacific proper and branches (3,145 miles), not in
cluding Iron Mountain and other auxiliaries, the report was as follows
EARNINGS AND EXPENSES,
1888.
Miles operated December 31..........
3,119
Earnings—
$
Passengers........ ............................... 2,939,725
Freight.............................................. 7,790,949
Mail, express and miscellaneous.. 1,647,967
1889.
3,119
$
2,665,354
8,286,682
1,624,184
Total earnings......... .......... 12,378,641
Total operating expenses . . . . . . . 9,411,980
12,576,220 13,506,529
8,868,828 10,224,706
Net earnings.................. ..........
2,966,661
3,707,398
1890.
3,145
$
2,742,808
9,174,427
1,589,294
3,281,823
INCOME ACCOUNT.
Receipts—
Net earnings..................... . ..I ...
Dividends, interest, &c... ..........
1888.
1889.
1890.
$2,966,661 $3,707,392 $3,281,823
941,376
1,981,790 2,223,951
Total net income..................... $3,908,037 $5,689,182 $5,505,774
Disbursements— *
Interest on bonds.......................... $2,535,718 $2,458,485 $2,598,143
Dividends paid............................... *1,539,120
1,758,994
1,823,498
Rate of dividend............................
*3*2
4
4
Taxes, rentals, &e..........................
941,523
793,275
588,187
Commissions on bonds...........
250,000
Loss on St. L. & San Fran, stock.
283,230
Total disbursements............... $5,549,591 $5,010,754 $5,009,828
Balance for year............................+$1,641,554 +$678,4?8 + $495,946
* The dividends actually paid in the year 1888 were 5% per cent, but
the income account in the report gave only 3%, as above
P- 174* 245> 275, 389, 519, 669, 874; V. 51, p. 84, 171, 829,
876, 910; V. 52, p. 42 5, 534, 761.)
M isso u ri Pacific System—St. L o u is Ir o n m o u n ta in 6c
Sou thern.—Owns St. Louis to Texarkana, Texas Line, 490 miles ;
branches to Belmont, Mo., Bird’s Point, Mo. (Cairo), Camden, Ark.,
Helena, Ark., Cushman, Ark., Arkansas City, Ark., Warren, Ark., Mem
phis, Tenn., &c., 718 miles; total owned January 1,1891,1,208 miles.
Leases Little Rock & Fort Smith and Little Rock Junction railro'ads.
172 miles; Kansas & Arkansas Valley RR., 170 miles. Total operated
January 1,1891,1,550 miles.
The general consolidated mortgage is for $45,000,000, sufficient bonds
being reserved to retire all prior issues, these covering only 485 miles.
The mortgage is a first lien on the 787 miles in Arkansas and on all un
sold lands, amounting to 779,059 acres on January 1,1891. Trustee of
mortgage, Mercantile Trust Company of New York. As indicated in
the table above, part of the general mortgage 5s are endorsed with the
Missouri Pacific’s guaranty of principal and interest. January 1,1891,
there were still $344,314 old incomes of various issues out
standing.
The stock ($25,763,950) is nearly all held in the treasury of the Mis
souri Pacific Railway Co., much of it having been retired in May, 1881,
by the issue of three shares of Missouri Pacific stock for four of the St.
Louis & Iron Mountain, and a large amount of it since. The sales of
land in Arkansas were given in the report for 1890 as 39,982 acres at
$2-89 per acre; in Missouri as 11,549 acres for $1-09 per acre; from
Little Rock & Fort Smith Railroad grant 16,419 acres for $3-28 per
acre. Lands in Arkansas unsold December 31,1890, 693,217 acres; in
Missouri, 85,842 acres; of Little Rock & Fort Smith RR., 532,196
acres.
The Little Rock & Fort Smith Road was absorbed by an exchange of
its stock in 1887 (4 shares for 3 of St. Louis & Iron Mountain.) See title
of that company in Supplement of May, 1888, and previously.
The St. Louis & Iron Mountain report for 1890 was in V. 52, p. 425.
INCOME ACCOUNT.
Miles operated...............................
Receipts—
Gross earnings...............................
Net earnings........ .........................
Other receipts...............................
1888.
1,190
$
8,084,646
2,994,614
60,239
1889.
1,208
$
8,964,795
3,773,355
288,529
1890.
1,550
$
10,859,173
3,889,487
27,356
Total net income.....................
Disbursements—
Interest on bonds..........................
Taxes, bridge expenses, &o........
Dividends.....................................
3,054,853
4,061,884
3,916,843
2,407,300
409,003
2,407,626
383,144
1,030,248
2,414,506
798,979
773,294
Total disbursements............... 2,816,303
3,986,779
3,821,018
—69,936
Balance for year........................... +238,550
+240,866
(V. 50, p. 390, 703; V. 51, p. 416; V. 52, p. 41, 351, 4 2 5 , 428.)
M o b ile 6c B ir m in g h a m .—(See Map East Tennessee Virginia <
6
Georgia.)—Mobile to Marion Junction, Ala., on the East Tennessee Vir
ginia & Georgia Road, about 147 miles; trackage to Mobile and Selma,
17 miles; opened in July, 1888. Abstract of mortgage V. 45, p. 274.
East Tennessee Virginia & Georgia owns a majority of the stock and
guarantees principal and interest of bonds. Stock, $3,000,000 (par,
$100), and bills payable August 23, 3888. $627,500. In year ending
June 30, 1891, gross earnings, $284,122, f gainst $251,852 in 1889-90.
In 1889-90 net, $61,199; interest, $150,OoO; taxes, $11,562; deficit,
$100,362, against $136,550 for 1888-89. Total deficit to June 30,1890,
$236,912. (V. 51, p 612.)
M obile 6c D a u p h in Is la n d R a ilr o a d 6c H a r b o r C om pany.
—Projected from Mobile to Dauphin Island, Ala., 36 miles. Stock au
thorized, $3,000,000; outstanding, $90,000. Robert Sewell, N. Y.,
President.
M obile 6c G ira rd .—Owns from Columbus, Ga., to Troy, Ala., 85
miles. Under construction from Troy seuthwest to Andalusia, Ala., 53
miles, of which 16 miles to Glenwood completed. Bonds at $12,600 per
mile for this extension have been authorized, the total issue of which
must not exceed $4,000,000. Common stock, $1,137,121; preferred
stock, $137,608, and $2,630 Pike County stock; par, $100. From June
1,1886, road was leased to the Central of Georgia (which owns $816,150
stock) for 99 years at a guaranteed dividend of 1% per cent per annum
on $473,400 stock. The bonds, of which $200,000 are 6 s ana $800,000
4s, are also guaranteed, principal and interest. In 1889-90 gross earn
ings, $274,082; net, $78,132; interest, $48,800; taxes, $10,115; surplus,
$19,216; dividends, $19,045; balance, $171. (V. 51, p, 570, 680.)
M obile 6c O hio.—(See Map.)—Owns from Mobile, Ala., to Colum
bus, Ky., 472 miles, proprietary line, Kentucky & Tennessee Railroad
to Cairo, 21 miles; also branches to Starkville, &c., 34 miles; total
owned, 527 miles; leases St. Louis & Cairo Railroad. Cairo to St. Louis,
152 miles, and track to Millstadt, 9 miles; total operated, 687
miles.
In 1886 the lease of the St. Louis & Cairo Railroad (161 miles) was
taken for 45 years at a rental guaranteed to amount to $165,000 per
year. Stock authorized, $10,000,000; outstanding, $5,320,600; par,$100. Lands June 30,1890, were 685,610 acres, valued at $359,029.
S e p t e m b e r , 1891,]
J R A IL K O A D
STOCKS
AND
BONDS
87
88
1N YESTO K S’
SUPPLEM ENT.
[V O L . L i l l i
S e p t e m b e r , 1891.]
R A IL R O A D
STOCKS
AND
BONDS,
89
Subscribers w i l l confer a great fa v o r b y g iv in g im m ediate notice o f an y e rro r discovered in these T ab les.
Bonds—Princi
RAILROADS.
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
Par
of
Whom.
Dividend.
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
M orris & Essex—Stock, 7 p. c. guar. D. L. & W ........
1st mortgage, sinking fund.....................................
Convertible bonds.....................................................
Gen. M. & 1st on Boonton Br. &c. (guar. D.L.&W.)
Consol. M. (for $25,000,000) guar. D. L. & W
.c*<fcr
Special real estate bonds......................«.................
Morris & Essex Extension stock, guar. 4 per cent.
Nashua < Lowell—Stock,9 p.c. rental,92 yrs. B.&M.
&
Bonds not mortgage..................................................
Do
do...............................................................
Nashville Chattanooga & St. Louis—Stock................
1st mortgage (for $6,800,000)..........................c fc
*< r
2d mortgage, gold or silver...............................c fe
*< r
1st M. on Fayette, and McM.brs. ($6,000 p.m.)c*&r
1st mortgage on Lebanon Branch.......................c*
1st M. on Jasper Br. ($90,000 are 8s, due 1906) c*
1st mortgage on Centreville Branch, gold---- c*&r
1st M. on Tracy City Br. (Tenn. C. & I. RR.).c*&r
1st M. on Bon Air Br., 10-30s, $20,000 per mile.c*
Consol. M., g., (for $20,000,000), $20,000 p. m.c*
Duck River RR. 1st M., $6,000 p. m., assumed.c*
2d mortgage, assumed.......................................c*
Nashville < Decatur—Stock, guar. 6 p. c. by L. & N.
6
1st mort., guar., s. f. ($200,000 held in stock fd.).
Nash. Flor. & Sheff—1st M. for $2,500,000, g., gu.c
Nashville < Knoxville—1st mort. for $2,000,000. .c*
6
Naugatuck—St’k,10 p.c. ren’l, 99 yrs.,N.Y.N.H.&H.
ls i mortgage................ ............... ....................— r
$50 $15,000,000
1864 500 &e.
5,000,000
Yar’us 1,000
281,000
1871
1,000
4,991,000
137 1875
1,000 12,151,000
Var’us
2,795,000
2
100
250,000
15
100
800,000
1873
200,000
1880
100,000
100 10,000,000
340 1873
6,300,000
1,000
321 1881
1,000
1,000,000
125 1877
750,000
1,000
29 1877
1,000
300,000
43 ’77-’83 1,000
461,000
46 1883
1,000
376,000
20 1887
1,000
600,000
7 1887
1,000
130,000
650 1888
2,847,000
1,000
48 1876 50Ó &c.
106,000
48 1881
1,000
34,000
119
2,227,582
25
119 1870
1,000
2 , 100,000
91 1887
1,000
1,920,000
1,000
1 ,000,000
1888
2 ,000,000
100
55 1883 l , 000 &o
150,000
84
In May, 1888, the new 4 per cent mortgage for $10,500,000 (trustee,
Fanners’ Loan & Trust Company,) was issued to pay floating debt, re
tire debentures, &c. Until September 1, 1891, interest on the four
per oents was payable at company’s option in scrip, fundable into
bonds of same issue, and the March, 1889, coupons were so paid; the
September, 1889, coupon waspaid half cash and half scrip; the 1890
and 1891 coupons all in cash. There can be no foreclosure under this
mortgage till four coupons are in default. Of the total amount ($10,500,000) authorized under this mortgage, there have been canceled by
operation of the sinking fund $529,500, there are held to exchange for
debentures not exchanged $97,335, and the company holds in reserve
in its treasury $2,040,500. See mortgage abstract, V. 47, p. 83. There
are still outstanding $26,000 Cairo extension 6 s, due July 1,1892,
for which extension bonds of 1883 are reserved.
Price of stock: In 1891, to Sept. 18, inclusive, 26@44%.
Fiscal year ends June 30. Advance statement for 1890-91 was in
Y. 53, p. 185. Report for 1889-90 was given at length in Ch ronicle ,
Y. 53, p. 499; see also p. 170, 475, 492.
INCOME ACCOUNT.
Receipts—
1887-88.
1888-89.
1889-90.
1890-91.
Gross earnings* .........$2,629,536 $2,881,474 $3,173,431 $3,559,138
Net earnings............... $710,392
$934,781 $1,070,918 $1,215,721
Int. on 1st mortgages. $480,000
Rent to St. L. & C.......
165,000
Int. on general mort.....................
Int. on car trust, &c...
59,918
$480,000
165,000
............
73,752
$480,000
$480,000
172,127)
232,925 > . 578,264
93,504)
Total disbursem’ts $704,918
$718,752
$978,556 $1,058,264
* Including miscellaneous receipts from rents, etc.
Expended for additions to property and new equipment and not in
cluded above in 1886-87, $288,151; in 1887-88, $375,479 ; in 1888-89,
$160,198; in 1889-90, $208,481; in 1890-91, $451,980. (V. 50, p. 107;
V. 51, 170, 47 5 , 4 9 2 , 49 9 , 787, 830; V. 52, p. 164, 203; V. 53, p.
185.)
M onterey Sc M exica n G u lf.—(See Map.)—Owns road completed
in Aug., 1891, from Venadito (on the Mexican International Railroad)
via Monterey to Tampico, on the Gulf, about 400 miles. An extension
from Yenadito to 8 ierra Mojado is soon to be built. At Monterey three
large smelting works are in course of construction, and at Tampico the
Government is making a deep water harbor, and large shipments of
bullion it is expected will go over the new road from Monterey to Tam
pico for export. The Central Trust Company of New York is trustee of
the mortgage. Sinking fund after November 1,1898, but bonds cannot
be drawn. The Mexican Government gives this road a subsidy of
$14,222 per mile in 6 per cent silver bonds. Stock $100,000. From
January 1 to Aug. 31, 1891 (8 months) gross earnings on 327 miles
were $576,529, against 224,815 on 157 miles in 1890. In 1890 on 242
miles gross earnings were $420,867; net, $284,018; interest, $266,782;
surplus, $17,236. General Trevino, President, Mexico; T. S. Bullock,
Vice-President, 40 Wall Street, New York. (V. 48,764; V. 49, p. 300,
540; V. 50, p. 71, 484, 662, 904; V. 52, p. 863; V. 53, p. 126, 289.)
M on tgo m ery Sc E u fa u la .—Owns Montgomery to Eufaula, Ala.,
80 miles. Foreclosed May 1,1879, and re-organized. Operated under
contract by Central of Georgia, which guarantees the principal and
interest of the bonds. Stock is $620,000, all owned by Central Railroad
of Georgia. In year ending June 30,1890, gross earnings, $364,169;
net, $128,732.
M on tgo m ery T uscalo o sa Sc M em p h is.—Under construction
from Montgomery, Ala., on the Alabama Midland, to Artesia, Miss., on
the Mobile & Ohio and the Hlinois Central, 183 miles, to be completed in
July, 1892. Stock authorized—common $1,150,000; preferred, $1,150,000. Mr. J. W. Woolfolk, President, 45 Wall Street, New York.
M o rg a n ’s L o u is ia n a Sc T ex as R a ilr o a d & Steam shlpC om »any.—fSee Map o f
ieans to Cheneyville, Southern Pacific Company.)—Owns from NewOr204 miles; branches, 55 miles; trackage Cheneyville to Alexandria, 24 miles; total, 283 miles. In February, 1883, the
stock was mostly purchased for the Southern Pacific Company, which
on January 1,1891, held $4,994,000 of the total $5,000,000 (par, $100)
Operated under lease to Southern Pacific Co., the lessee paying all
charges and also 23 per cent of the net profits under the omnibus
lease. Company has 17 iron steamships plying between New
York and New Orleans and between Gulf ports; also wharves, ware
houses and a majority interest in the capital stock of the Houston &
Texas Central Railway Company, &c. There are also $249,002 New
Orleans Opelousas & G. W. 5 per cent bonds, due April 1, 1899,
assumed. Dividends in 1888, 2 per cent; in 1889, nil; in 1890, nil.
From January 1 to July 31, 1891 (7 months), gross earnings were
$2,930,245, against $2,892,193 in 1890; net, $587,877, against $788,632. For year 1889, gross, $5,366,666; net, $1,739,295. In 1890 gross
$5,703,369, net, $2,012,491; surplus over charges $1,196,044; net
profits due company under lease to Southern Pacific $565,799.
M o rris Sc E ssex.—('»S e Map o f Delaware Lackawana c Western.)—
e
fi
Owns from Hoboken, N. J., to Phillipsburg, N. J., 85 miles; branch,
Denville, N. J., via Morris & Essex Tunnel, to Hoboken, N. J., 35 miles;
leases: Morris & Essex Extension RR. into Paterson, N. J., 2 miles;
other lines, 14 miles; total operated, 136 miles. In 1868 leased in per-
3 la
7
7
7
7
413 & 5
2
4*2
6
5 gIH
7
6
6
6
6 g. & 8
6 g.
6
6 g.
5 g.
6&8
6 g-
3
7
5 g6
5
4
J. N. Y., Del. Lack. & West.
N.
do
do
do
do
J.
do
do
0.
D.
do
do
do
do
do
do
M. & N.
M. & N. Nashua, Co.’s Office.
do
do
F. & A.
do
do
J. & J.
Q.—F. New York & Nashville.
J. & J. N. Y., Continental N. Bk.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
J. & J.
do
do
do
«fto
J. & J.
A. & O.
do •
do
J. & J.
do
do
M. & N.
do
do
J. & D.
Nashville.
J. & J. N. Y., 23 Nassau St.
F. & A. N. Y. and Louisville.
M. & N. N. Y., Mercantile Tr. Co.
J. & J. New Haven, Ct., Treas.
do
do
J. & D.
J.
M.
J.
A.
J.
&
&
&
&
&
July 1, 1891
May 1, 1914
Jan. 1, 19O0Oct., 1901
June 1, 1915Various.
May, 1891
May 1, 1891
Aug. 1, 1893
July 1, 1900
Aug. 1, 1891
July 1, 1913
Jan. 1, 1901
Jan. 1, 1917
Oct. 1, 1917
Jan.,1906&’23
Jan. 1, 1923
Jan.l892to’17
July 1, 1917
Apr. 1, 1928
Jan. 1, 1896
Nov. 1, 1909
June 6, 1891
July 1, 1900
Aug. 1. 1937
1918
July, 1891
June 1, 1913
petuity to the Delaware Lackawana & Western RR., the lessees assum
ing all liabilities and paying 7 per cent per annum on the capital stock.
They also agree to pay 8 per cent in case 10 per cent is earned on the
stock in any one year.
The Morris & Essex is important to the Delaware Lackawanna &
Western as a route with terminal facilities on New York Harbor, but
the actual earnings on the road show a large annual deficit for the
lessee company after the payment of rental. The loss to lessee was
in 1880, $1,012,416; in 1881, $985,890; in 1882, $941,550; lnl883,
$1,104,218; in 1884, about $1,100,000; in 1885 and 1886, about
$900,000. In 1890, gross earnings of road proper (119 miles) were
$5,197,639; net, $1,665,914. (V. 52, p. 280, 350; V. 53, p. 370.)
N a s h u a Sc L o w e ll.—Owns from Lowell, Mass., to Nashua, N. H.,
15 miles. On October 1,1880, a lease for 99 years to the Boston &
Lowell was made. In 1887 lease was transferred to Boston & Maine
Railroad Company, which pays a rental of $73,000 (9 per cent on stock).
The funded debt of $300,000, principal and interest is assumed by the
lessee, and the lessor holds the lessee’s notes for the same amount—
$300,000. (V. 45, p. 143.)
N ash v ille C hattanooga Sc St. L o u is .—('»S e Map.)—Owns from
e
Chattanooga, Tenn., to Hickman, Ky., 320 miles; branches to Lebanon.
&c., 332 miles; total operated June 30,1891, 652 miles. Also owns the
Tennessee & Coosa Railroad, which will be extended so as to run from
Gadsden, Ala., via Manchester, to Bell’s Factory or Huntsville, 75
miles. An extension of the Jasper branch 20 miles in length was
opened July 1,1891. The Western & Atlantic, extending from Chatt
anooga, Tenn., to Atlanta, Ga., 138 miles, has been leased for 29
years from December 27,1890, at $420,012 per annum.
In July, 1891, capital stock $3,331,387 was sold to stockholders at
50, the proceeds rettreing $500,000 Government bonds due June 1, and
for construction and improvements. See Y. 52, p. 899; V. 53. p. 21.
A majority of the stock ($5,077,500) is owned by the Louisville &
Nashville RR. Co., and pledged for its lO-40 and unified mortgages.
The Tracey City branoh 6 s fall due $20,000 yearly on Jan. 1,1892
to 1916 inclusive, and $100,006 on Jan. 1,1917.
Of the consolidated mortgage of 1888 (United States Trust Co., trus
tee), $10,807,000 bonds were reserved to retire all prior bonds.
Dividends since 1880—In 1881, 3 ; in 1882, l ^ ; in 1883 and 1884,
2 ; in 1885, nil; in 1886,1; in 1887, 4 ; in 1888, 4*4; in 1889, 5 ; in.
1890, 5 ; in 1891, January, H 4 ; May, l 1 Aug., 144.
»*;
From July 1,1891, to Aug. 31,1891 (2 months), gross earnings, in
cluding the«Western & Atlantic after Aug. 1,1891, were $1,023,811,
against $696,834 in 1890; net, $409,436, against $289,692; interest,
rentals, etc., $287,530, against $167,822; surplus, $121,906, against
$121,870.
Fiscal year ends June 30. The report for 1890-91 was in Chronicle,
V. 53, p. 406, showing earnings as in the table below. On the Western
& Atlantic, operated separately, the gross earnings from Dec. 2 7 ,1 8 90 ,
to July 1 ,18 9 1, were $794,601; operating expenses (including $102,384 for improvements) $660,114; rental paid $214,522; loss to lessee
$80,035.
INCOME ACCOUNT.
1887-88.
1888-89. 1889-90.
1890-91,
$
$
$
$
Gross earnings.................. 3,091,653 3,300,165 3,550,460 3,943,304
Net income..............
1,321,404 1,348,721 1,430,414 1,657,063
Disbursements—
Interest on debt and taxes
760,834 869,696
873,388
914,799
Dividends.......................... (4)266,741 (5)333,426
333,427 333,427
Im provem ents............
145,015
60,903
85,881
142,617
Total disbursements.. 1,172,590 1,264,025 1,292,696 1,390,843
148,814
84,696
137,718
266,220
Balance, surplus........ ......
—(V. 50. p. 107, 245, 353, 391, 560, 735, 771, 874; V. 51, p. 22, 207,
345, 4 1 5 , 570, 609; V. 52, p. 40, 832, 899 ; V. 53, p. 21, 95, 406.)
N ash ville Sc D ecatu r.—f»S e Map Louisville < Nashville.)—Owns
e
6
from Nashville, Tenn., to Decatur, Ala. ,119 miles. The road was leased
May 4,1871, to the Louisville & Nashville Railroad for 30 years from
July 1,1872, at a rental of 6 per cent per annum on the stock. The
lessee assumed all the debt of the Nashville & Decatur Company, and
owns $785,300 of its stock. In 1889-90 gross earnings, $1,419,647;
net, $510,162.
N ash v ille F loren ce Sc Sheffield.—(See Map Louisville & Nash
ville.)—Owns from Columbia, Tenn., to Florence, Ala., 79 miles, with
branch Iron City, Tenn., to Pinckney, Tenn., 12 miles, and has trackage,
Florence to Sheffield (Memphis & Charleston Railroad), 6 miles; total,
97 miles. Operated by Louisville & Nashville, which company guaran
tees the principal and interest of the bonds by endorsement, and owns
$565,000 of the $708,585 stock, par $100. In year ending June 30,
1891, gross earnings were $230,058; net, $31,193; taxes, $6,201; in
terest, etc., $101,009 ; deficit, $76,018. President, M. H. Smith, Louis
ville, Ky.
•
N au ga tu c k .—Owns from Naugatuck Junction, to Winsted, Conn.,
56^2 miles; leased, Watertown & Waterbury Railroad, 41 miles; total
a
operated, 61 miles. Leased for 99 years from April 1,1887, to New
York New Haven & Harlem at $206,000 per year, earnings being in
cluded in those of the lessee. In year ending September 30,1887, gross
earnings were $725,828; net, $246,664. In 1885-1886, gross, $704,336;
net, $221,522.
90
IN V E S T O R S ’
SUPPLEM ENT.
IVol. LIU,
S eptember, 1891.]
R A IL R O A D
91
STO CKS A N D BONDS,
Subscribers w i l l confer a great fa v o r by g iv in g Im m ediate notice o f an y e rro r discovered In these T ab les.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
of
Par
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Nesquehoning Val.—St’k, 5 p.c. gu. till 1904.L.C.&N.
Nevada Central—IstM. g., income (sinking fund)..
Newark <- Hudson—1st mortgage............................e
£
Newark. Somerset < Straitsv.—IstM., ext. in 1889.c*
&
Newburg Dutchess (6 Connecticut—Income bonds, .r
New Haven <6 Derby—2d mortgage (now 1st) guar.c*
Consol, mortgage for $800,00(5, interest guar..c*
Mortgage on Huntington Branch...........................
Funded coupon certificates.....................................
Real Estate Certificates...........................................
N. Hav.& Northamp.—St’k, gu. 99 yrs.N.Y.N.H.&H.
1 st mortgage.......................................................... c*
Consol, sink, fund $15,000 per year not drawn.c*
Northern Extension bonds................................... c*
Bonds convertible into stock............................... c*
Holy. & W., leased, 1st & 2d M. ($200,000 gu.).c*
New Jersey Junction—1st. M., guar, by N. Y. Cent.c<fer
New Jersey & New York—1st M. (reorganization).c*
2 d mortgage............................................................. r
New London Northern—Stock.....................................
2 d mortgage............................................................c*
Consolidated mortgage ($300,000 are 4s)......... c*
Newport News < Mississippi Valley—Stock...............
&
New Orleans <£ North Eastern—Prior lienmort— c*
N. Orl’ns <£iforlh West’n—1stM. ,$20,000 p.m.,g. ,c*&r
New Orl. <6So.—Prior lien M. for $250,000 red. at 105
1 st mort. for $ 1,000 ,000 , income for five years...
N. Y. Brooklyn < Man. Beach—N. Y. & M. B. 1st M..c*
&
N. Y. B. & M. B. 1st con. M., gold, guar, by L. I.c*
New Y ork d Canada—1stM.ster.,guar.D.&H.,Can.c^
H
18
94
5
44
15
13
13
4
92
27
Ï7
5
34
34
121
100
121
Ì96
196
77
66
66
14
All.
150
$50 $1,418,600
1,000
750,000
1888
1,000
1871
250,000
1869 500 &c.
800,000
1877
1,164,500
50
700.000
1870 500. &c.
225.000
1888. 1,000
575,000
1888
71,900
1888
480,000
1888
225,000
iò o
2,460,000
Ì869
1,000
1,300,000
1879
1,000
1 , 200,000
1881
1,000
700,000
1886
1,000
700,000
1870
1,000
260,000
1886
1,000
1,700,000
1880 500 &o.
400,000
1885
100,000
100
1,500,000
1872 500 &c.
387,500
1,000
1880
1 ,112,000
100
13,694,490
1885
1,000
1 , 120,000
1881
5,000,000
1890
1,540,000
i,6 o o
1891
(B
1891
m
1877 50Ó &c.
500.000
1885
1,000
867.000
1874 £ 1 0 0 &c 4,000,000
N esqu elio n ln g V alley .—Owns from Nesquehoning Junction, Pa.,
to Tamenend, Pa., 17 miles; Tunnel Branch, Hauto, Pa., to Lansford, Pa.,
1 mile; total operated, 18 miles. Leased for 999 years to the Lehigh
Coal & Navigation Company. In September, 1884, the lease was modi
fied so as topay 5 per cent a year only, and the option to purchase the
stock at par and interest was suspended for 20 years, with a guarantee
of 5 per cent per annum on stock. *
New ark: 8c H u d s o n .—Owns from Bergen Junction to Newark, N.
J., 6 miles. Leased to New York Lake Erie & Western at a rental of
$17,500 per annum. Erie pays interest on bonds and includes earnings
in its own statements. In 1890, gross earnings, $81,232. Cortlandt
Parker, President, Newark, N., J.
N e w a r k Somerset Ac Straitsvllle—Owns from Newark, O., to
Shawnee, O., 44 miles. Leased to Baltimore & Ohio till November 1,1929
(with right to perpetual renewal at B. & O’s option) at 30 per cent of
ross earnings and a. minimum rental of $40,000 (interest on debt).
took, common $795,400, and preferred, $218,200 (par both, $50),
$705,550 of the first and $191,850 of the latter being owned by the
Baltimore & Ohio. In 1889-90 gross earnings were $178,583; net,
$16,124 ; loss to lessee, $43,890, against $37,762 in 1888-89.
N e w b u rg D utchess Ac Connecticut.—Owns from Dutchess
Junction, N7 Y., to Millerton, N. Y., 59 miles. Reorganized after fore
closure in January, 1877. In 1889-90 the “half right of way’’ from
Dutchess Junction to Hopewell Junction, with the partly built road
thereon, was purchased for $100,000. In addition to above incomes
there are $150,000 1st mortgage 7s, due in 1907, and $65,000 of 5
per cent mortgage notes due $10,000 yearly, Jan. 1,1892, to 1897. In
year ending June 30,1890, gross earnings were $183,518; net, $45,773; surplus over charges, $28,379. The common stock is $500,000
and preferred stock $587,450; par $50. John 8 . Schultze, President, 59
Wall Street, New York City. (V. 47, p. 626.)
N e w Castle 8c B e a v e r V alley ,—Owns from Homewood, Pa., to
New Castle, Pa., 15 miles. Leased to Pitttsburg Fort Wayne & Chicago
Railroad for 99 years at a rental of 40 per cent of gross earnings, and
lease assumed by Pennsylvania Company. Dividends since 1880
have been—in 1881, 24 per cent; in 1882, 14 per cent; in 1883,
29 per cent; in 1884,19 per cent; in 1885,10 per cent; in 1886 and
1887, 6 per cent each; in 1888 and 1889,10 per cent each; in 1890,11
per cent; in 1891, Jan., 3 per cent (quarterly)? Feb., 10 per cent ex
tra; April, 3 (quarterly); May, 10 (extra); July, 3. Gross earnings in
1890, $271,804; net, $121,869; rental received $108,721, against
$98,682 in 1889.
N e w H a v e n 8c D erby .—Owns from New Haven, Conn., to Ansonia. Conn., 13 miles, and extension to the Housatonic Railroad at
Huntington, 4 miles. Leased to the Housatonic for 99 years from
July 9, 1889, the rental being guaranty of interest on bonds and
funded coupon certificates, and 2 per cent on stock till July,
1892, then 3 per cent till July, 1895, and 4 per cent thereafter.
Dividends are paid directly to stockholders in semi-annual instalments
January 10 and July 10. Stock is $470,000; par, 100.
N e w H a v e n 8c N o rth a m p to n .—Operates from New Haven,
Conn., to Conway Junction, Mass., 95 miles; branches—To Williams
burg, Mass., New Hartford, Conn., Turner’s Falls, Mass., Tariffville,
Conn., 32 miles; leases—Holyoke & Westfield RR.10 miles; total, 137
miles. In June, 1887, leased for 99 years to the New York New Haven
& Hartford at 1 per cent on stock till April, 1890; then 2 till April,
1893; then 3 till April, 1896, and 4 afterward. Interest on bonds is
guaranteed. Earnings are included in the earnings of the lessee. The
Holyoke & Westfield has paid annual dividends since 1879. Its first
mortgage bonds due April 1,1911, are guaranteed principal and interest
by the New Haven & Northampton.
N e w Jersey J u n ctio n .—Terminal road through Jersey City,
Hoboken and Weehawken, connecting the trunk lines terminating at
those points; length about 5 miles. Leased for 100 years from «June
30,1886, to the New York Central & Hudson River RR. Co., which
company guarantees the bonds absolutely. The mortgage is for
$4,000,000.
N e w Jersey 8c N e w Y o r k .—Owns from Erie Junction, N. J., to
Garnerville, N. Y., 29 miles; branches to New City, etc., 5 miles; oper
ates to Haverstraw, etc., 14 miles; total operated, 48 miles. Reorgan
ized after foreclosure in April, 1880. Stock outstanding, $1,440,800
common; $787,800 preferred; par, $100. Control of road is with pre
ferred stock and first mortgage bonds till 6 per cent dividends have been
paid on preferred stock for three years. Gross earnings in year ending
June 30,1890, $253,149; expenses, $205,230; net earnings, $47,919;
surplus over charges, $4,374. Henry W. De Forest, President.
N e w L o n d o n ' N orth e rn .—Owns from New London, Conn., to
Brattleboro, Vt., 121 miles. Leased till December 1, 1891, to the
Central Vermont, the rental being $155,000 for the 100 miles New
London to Miller’s Falls; $39,000 for the 21 miles Miller’s Falls to
Brattleboro; the interest on advances by lessors for permanent
improvements ($33,706 in 1889-90); $12,000 for Brattleboro & White
hall Railroad; making total for 1889-90 $239,706. Negotiations
are in progress for an extension of the lease. Dividends sincel876—
In 1877, 6 % per cent; frem 1878 to 1886, inclusive, 6 ; in 1887, 6 ^ ;
from 1888 to April, 1891, inclusive, at rate of 7 per cent per annum.
In 1889-90, company received rentals, $208,810, and interest on im
provements, &c., $35,564; paid interest, &o., $82,092; dividend (7 per
f
S. Phila., 226 So. Third St.
No coupons paid.
J.
S. N.Y., L. E. & West. RR.
N. N. Y., Union Trust Co.
When earned.
Newcastle, Pa.
Q.—j .
F. & A. Bridgeport, Ct., Office.
M. & N. N.Y.,Hous.RR.& B’g’pt.
Bridgeport.
F. & A.
do
F. & A.
do
F. & A.
New Haven.
A. & O.
do
J. & J.
do
A. & 0.
do
A. & O.
do
J. & J.
A. & O. N.Hav.,N.Tradesm’sBk.
F. & A. N. Y. Cent. & Hud. Riv.
M. & N. N. Y., Mercantile Tr. Co.
do
do
J. & J.
New London, Office.
Q .-J.
J. & D. N. Y., Bk. of No. Amer.
do
do
J. & J.
Sept. 1, 1891
July 2, 1938
Sept. 1, 1901
Nov. 1, 1929
June 1, 1977
July 1, 1891
Feb. 1, 1900
May 1, 1918
1900
Feb. 1, 1900
1900
Oct., 1891
Jan., 1899
Apr. 1, 1909
Apr. 1, 1911
July 1, 1896
Apr.’98&1911
Feb. 1, 1986
May 1, 1910
Jan. 1, 1986
July 2, 1891
July, 1892
July, 1910
6 g. A. & O. N. Y., Central Trust Co.
6
J. & J.
In default.
5 g* J. & J.
5
(?)
(?)
6
(1)
J. & J. N. Y., Corbin Bank’g Co.
7
5 g. A. & O.
do
do
6 g- M. & N. London, Baring Bros.
Nov. 1, 1915
Jan., 1911
Jan. 1, 1940
1931
1931
Jan. 1, 1897
Oct. 1, 1935
May 1, 1904
2*3
5 g7
5 g.
6
3
7
5
6
6
6
1
7
6
5
5
4 &6
4
6
5
1%
7
4 &5
M.
J.
M.
M.
&
&
&
&
cent), $105,000; other expenses, $38,499. Bills payable December 31.
1890, $100,000.—(V. 51, p. 241; V. 52, p. 391,761; Y. 53, p. 256.)
N e w O rlean s 8c G u lf.—Se e N e w O rle an s & So u th e r n .
N e w O rlean s & N o rth E astern .—( See Map Cincinnati New Or
leans <•Texas P acific.)—Line of road from New Orleans, La., to Meridian,
£
Miss., 196 miles. Stock is $5,000,000; par, $100. This road belongs to
the “ Erlanger System,” and $4,320,000 of the stock and $4,900,000of
the $5,000,000 1st mortgage bonds are held by the Alabama New Or
leans & Texas Pacific Junction Railways Company—which see
From July 1, 1891, to July 31, 1891 (1 month), gross earnings
were $90,145, against $83,307 in 1890; net, $18,000, against
$15,000. In year ending June 30,1891, gross earnings were $1,135,859; net, $264,540; interest paid, $365,400; interest credits, $6,465 ;
deficit, $94,395. In 1889-90 gross, $1,219,731; net, $340,804 ; deficit
under all charges, $15,147, against $167,977 in 1888-89. (V. 51, p.
303; V. 52, p. 204; V. 53, p. 289.)
N e w O rlean s 8c N o rth w e ste rn .—Owns from Natchez, Miss.,
to Rayville, La., 77 miles. Projected to Little Rock, Ark. Stock
authorized, $4,500,000—$25,000 per mile; par $ 100 . Natchez Construc
tion Company contractors. In August, 1891, C. H. Hammond and W.
D. Jenkins were appointed joint receivers. It is said they will com
plete an additional 24 miles of road partially constructed.
N e w O rlean s 8c So u th ern .—New Orleans soVth along the Missis
sippi River to Bohemia, with a branch, 66 miles in all. The New
Orleans & Gulf made default on coupon due November 1,1889. and
road was sold in foreclosure March 5,1891, the company being reor
ganized as now. The old bonds were exchanged for the new firsts. See
V. 52 p. 391; V. 53, p. 156. Stock, $200,000.
From January 1 to July 31, 1891 (7 months), gross earnings
were $97,105, against $82,907 in 1890; deficit, $529, against net of
$4,098. In 1890 gross earnings were $159,190; net, $17,432. In 1889
gross, $182,140; net, $25,889. (V. 50, p. 662; V. 51, p. 494; V. 52, p.
391; V. 53, p. 156.)
N e w p o rt N e w s & M ississip pi V alley .—This company which
is incorporated under the laws of Connecticut, operates imder lease
(till 2136) the Elizabethtown Lexington & Big Sandy Railroad from Hun
tington, W. Va., to Lexington, Ky., 139 miles, and (till 1936) the
Chesapeake Ohio & Southwestern Railroad from Louisville, Ky., to
Memphis, Tenn., and branch, 398 miles; total, 537 miles. The
lessee is to pay fixed charges so far as net earnings suffice, and
any surplus earnings up to 6 per cent are to be divided
between the lessor companies, the excess thereafter to be
retained by the lessee. On January 1, 1891, the company
owned $5,708,700 Chesapeake Ohio & Southwestern common ana
$3,511,600 preferred stock; $1,055,500 Elizabethtown Lexington & Big
Sandy Railroad stock; $3,135,936 Chesapeake & Ohio common, $244,736
first preferred and $1,510,400 second preferred stock. On the same
date there was due from the Ches. Ohio & S. W., as per balance sheet,
$935,429, and from the Eliz. Lex. & Big Sandy $46,853. See balance
sheet inV. 52, p. 607. Central Paciflo owns $1,680,000 of the stock.
Offices of company, No. 23 Broad Street and NOw Haven, Conn.—(V. 48,
p. 5 8 9 ; V. 50, p. 559; V. 52, p. 607.)
N e w Y o r k B ro o k ly n 8c M a n h a tta n B e a c h .—From Fresh
Pond Junction to Manhattan Beach, and branches to Bay Ridge and
Greenpoint, 20 miles. This was a consolidation August 27, 1885.
Leased for 99 years from May 1.1882, to the Long Island RR. Co. at
35 per cent of gross earnings, but the rental guaranteed to be at least
$95,980 in each year; 1st consolidated bonds are endorsed by Long
Island Railroad on application. Stock is $350,000 common ana
$650,000 non-cumulative preferred (par, $100). Dividends on preferred
from 1886 to 1890, both inclusive, 5 per cent per annum, paid semi
annually, April and October, bv Long Island Railroad Company. The
consolidated mortgage of 1885 is for $2,000,000; trustee is Central
Trust Company. In year ending June 30; 1890, rental was $109,750;
deficit under interest and dividends, $878. (V. 51, p. 494.)
N e w Y o r k 8c C an ad a.—Owns from Whitehall, N. Y., to Rouse’s
Point, N. Y., 113 miles; branches to Baldwin, Ausable and Province, 37
miles; total operated, 150 miles. Leased in perpetuity and virtually
owned by the Delaware & Hud. Canal Co., which guarantees the bonds,
and has $3,921,026 invested in it. The stock is $4,000,000; par, $100.
From July 1, 1890, to June 30,1891 (12 months), gross earnings
were $1,026,761, against $1,114,869 in 1888-89; net, $241,412, against
$454,784; deficit under charges $63,826, against surplus of $156,363.
—(V. 50, p. 245,707 ; Y. 51,p. 207, 681; V. 52, p. 280,762 ; V. 53, p. 224.)
N e w Y o r k C entral 8c H u d s o n R iv e r.—(See Map)—Owns
from New York City to Buffalo, N. Y., 442 miles; branches on N. Y.
Central division, 377 miles; total owned, 819 miles; lines leased—West
Shore RR. 426 miles, and branches, 22 miles; Troy & Greenbush, 6 miles;
Spuyten Duyvil & Port Morris, 6 miles; New York & Harlem, 136 miles;
New Jersey Junction, 5 miles; total, 688 miles; grand total, 1,421 miles.
The second track owned and leased is 897 miles; third track, 319 miles;
fourth track, 297 miles; turnouts, 907 miles—making a total of 2,607
miles of traok owned by the company and 1,233 miles leased, 3,841
miles in all. Also operates the Dunkirk Allegheny Valley & Pittsburg
Railroad, 104 miles, reported separately.
In January, 1891, leased the Beech Creek Railroad, (which see) 131
miles, and in March, 1891, leased the Rome Watertown & Ogdensburg
Railroad (which see), 643 miles.
IN V E S T O R S ’
SUPPLEM ENT.
[Y ol . L IIL
September 1891.]
R A IL R O A D
STOCKS
AND
as
BONDS
Su bscribers w i l l co n fer a great fa v o r b y g iv in g Im m ediate notice o f an y e rro r discovered in these T ab les.
Borní*—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, «fee., see notes of
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
New York Central < Hudson River—Stock...............
£
Debt certificates (N. Y. Central) ext. 10 y’rs 1883
N. Y. C. <c H., ? $30,000,000 )
f
orre„ 5
mortgage... 1 * 2 ,000,000 \ coupon or reg. ^
Debentures (to be included in any newmort.).c*r
Debentures for $15,000,000 g., s. f. not dr’n. .c&r
N. Y. Chicago £ St. Louis—1st pref. (5 p. 0. non-cum.)
1 st mortgage gold, sinking fund not drawn...... c*
N. Y. < Greenwood Lake—1st and 2d mort., income
&
if. Y. < Harlem—Com. and pref.stock, 8 p.c.,N.Y.C.
6
Consolidated mortgage, coupon or registered..c*
N. Y. Lackawanna < Western—Stock, guar. 5 p. ct.
&
1 st mortgage.......................................................... 0*
2d mortgage, guar, by Delaware Lack. & West.o*
Terminal Improvem’tmortgage, (for $5,000,000).
New York Lake Erie < Western—Stock, common....
£
Preferred stock, not cumulative.............................
N.Y. & E. 1st M.,PiermonttoDunkirk,N.Y.,ext.c*
2 d mortgage, gold (extended in 1879).............c*
3d mortgage, gold (extended in 1883).............c*
4 th mortgage, gold (extended in 1880)...........c*
5th mortgage, extended in 1888 at 4 p. c., gold.c*
Erie R’y.lst M.,Buff. Br. Homellsv. to Attica, g.c*
1 st consolidated mortgage, gold, $< & *.........c*
840
840
513
40
151
132
214
200
200
446
446
446
465
465
60
526
1
$100 $89,428,300
Q .-J . N. Y., Gr. CentT Depot,
do
do
M. < N.
fe
1853 500 «fe . 6.450.000
5
e
do
do
J. & J.
1873
30.000.
000 7
1,000
J. < J. London, Union Bank.
fe
1,000
1873
9,733,333
M. « 8. N. Y., Gr. CentT Depot,
fe
1884-9 l.OOO&c 11 .000 .
000 ! *
do
do
1890 l.OOO&c 8.500.000
4 g. J. & D.
do
do
5.000.
000 3%
100
19.681.000
A. & O. N. Y., Union Trust Co.
1,000
1887
None paid.
2.700.000
I e- F. & A.
1878 100 &c.
4
J. & J. N. Y., Gr. CentT Depot.
50 10 ,000,000
do
do
12 ,000,000
M. <c N.
f
1872
7
1,000
10 ,000,000
100
Q.—J. N. Y., by Del. Lack.<&W.
Ut
do
do
12 ,000,000
1,000
1880
6
J. « J.
fe
do
do
5.000.
000 5
F. A A.
1,000
1883
2.850.000
M. « N.
fe
do
do
4
1890
id o
77,404,900
100
8,536,600
N. Y., 21 Cortlandt St.
" é"
2.482.000
1,000
M. « N.
fe
do
do
7
1847
fe
2.149.000
1,000
do
do
1879
5 g. M. « S.
1,000
4.617.000
fe
do
do
1853
4*2g. M. « S.
1,000
2.926.000
A. A O.
do
do
1857
A g. J. A D.
do
do
709,500
4 S’
1858 500 &c.
182,600
4 g. J. « J.
fe
do
do
1861 100 &c.
1,000 16.891.000
1870
7 g. M. A S. New York and London.
Organ ization , «fee.—This company was formed by a consolidation of
the New York Central and the Hudson River railroads October 1,1869.
The New York Central was a consolidation of several roads under a spe
cial law of April 2,1853. The Albany & Schenectady Railroad, opened
September 12,1831, as the Mohawk < Hudson, was the first railroad
&
built in the State of New York. The West Shore Railway was leased in
December, 1885, for 475 years. The Rome Watertown & Ogdensburg
was leased in perpetuity in March, 1891, its debt being assumed and 5
per cent guaranteed oh its stock. See V. 52, p. 463. The Beech Creek
RR. (which see) is leased for 999 years and 4 per cent guaranteed on
its stock and bonds. See Y. 52, p. 570.
Sto c k and B onds .—The famous scrip dividend of 80 per cent on the
capital stock of the New York Central was made in December, 1868,
and on the consolidation with the Hudson River Road (November 1,
1869,) a further dividend of 27 per cent was distributed on the New
York Central stock and 85 per cent on the Hudson River stock. In No
vember, 1879, 250,000 shares ($25,000,000) were sold to a syndicate of
bankers by Mr. W. H. Vanderbilt at the price of 120, and 100,000 shares
sold afterwards. Under the lease of the west Shore Railway $50,000,000
of 4 per cent bonds were guaranteed and $10,000,000 West Shore stock
taken as consideration.
In June, 1890, $15,000,000 debenture 4 per cents were authorized
for improvements. They are to be included m any new mortgage, and
have a sinking fund of $300,000 yearly—no drawings. See Y. 50, p,
834.
Dividends.—From 1869 to 1884, inclusive, 8 per cent per annum; in
1885, 3*2 per cent. From 1886 to 1889, inclusive, 4 yearly; in 1890,
4 * ; in 1891, January 1 and *a extra; April 1; July 15,1.
2
Price of stock.—In 1880,122®1553s; in 1 8 8 1 ,1 3 0 ^ 1 5 5 ; in 1882,
123 58®138; in 1883, HH2®129i8; in 1884, 83*2® 122; in 1885, 81%®
107%; in 1886, 98%®1173s; in 1887,101%®11458; in 1888,102J2®111;
in 1889, J0478@110i2; in 1890, 95%®1H,; in 1891, to Sept. 18
inclusive, 981
«i®112.
O perations , F inances , «fee.—The New York Central & Hudson River
Railroad has an exceptionally rich local traffic, but the profits also de
pend very much upon harmony among the trunk lines.
Year ends June 30. Report for 1889-90 in V. 51, p. 437, 455. In the
following the figures for 1890-91, which are partly estimated, include
the Rome Watertown < Ogdensburg since March 15,1891. (See article
&
V. 53, p. 6 .)
July 15,1891
May 1, 1893
Jan. 1, 1903
Jan. 1, 1903
Sept. 1, 1904
June i , 1905
Moh. 2, 1891
Oct. 1, 1937
Nov. 30,1908
July 1, 1891
May 1, 1900
Oct. 2, 1891
Jan. 1, 1921
Aug. 1, 1923
May 1, 1923
Jan. 15,
May 1,
Sept. 1,
Moh. 1,
Oct. 1,
June 1,
July 1,
Sept. 1,
1884
1897
1919
1923
1920
1928
1921
1920
upwards, if bonds oan be bought at or below 1 0 2 ; if not, the sinking
fund lapses for that year, thus leaving $ 100,000 more for dividends.
The original issue of bonds was $20,000,000, and it has been reduced
to present amount by the sinking fund purchases. See abstract of
mortgage (Central Trust Co. of New York, trustee), V. 45, p. 541.
Dividends—On. first preferrred: In 1891, March, 3% per cent.
From January 1 to June 30, 1891 (6 months), gross earnings were
$2,928,843, against $2,733,698 in 1890; net, $564,287, against $612,027;
interest, rentals and taxes, $507,885, against $503,562; surplus over
charges, $63,557, against $113,982.
Report for year 1890 was in Ch ronicle , Y. 52, p. 760. The report
states that the engine and car equipment has received large repairs
and ten new engines have been purchased, which nearly equalizes the
depreciation to the engine equipment. The track and structures have
continued to improve. The earnings for the year were $5,820,306, the
largest in the history of the road—being an increase of $7299,77 over
1889. This was caused entirely by increased tonnage and passengers.
The average rate received per ton per mile was *508 cent, a decrease of
*028 cent. The average rate received per passenger per mile was 1:57
cents, a decrease of *19 cent.
1888.
1889
1890.
$
$
$
5,090,329
5,820,306
Gross earnings.......................... 4,918,217
4,003,544
4,678,251
Operating expenses and taxes. 4,113,824
Net earnings.......................
Net includ’g other income......
Deduct—
Interest......................................
Rentals............: .........................
Sinking fund.............................
Dividend (3 *2) on first pref. ..
804,393
810,813
1,086,785
1,092,175
1,142,054
1,154,82$
778,240
81,416
791,680
81,139
99,954
784,57$
87,685
93,748
175,000
100,000
972,773
959,656
1,141,002
sur.li9,402 sur.$13,826
def.148,843
Balance.
-(V . 49, p. 689; V. 50, p. 245, 707, 769; V. 51, p. 143, 240, 715; V. 52,
p. 203, 280, 760, 796.)
N ew Y o r k Sc G reenw ood L a k e.—Owns from Jersey City. N. J.,
to Greenwood Lake, 48 miles ; branch to Ringwood, 2 miles ; total, 50
miles. The New York Lake Erie & Western controls and operates it.
The holders of the second mortgage of $1,800,000 have the right to pay
earnings and expenses .
off the first mortgage bonds of $900,000 at 105. Stock, $75,000;
par $100. Due for advances December 31, 1889, $282,000. Gross
1888-89.
1889-90.
1890-91.
Gross earnings....................$35,441,096
$37,008,403
$37,780,313 earnings in 1890, $2!M,466; net, $9,514; taxes, $5,647. Abram 8 .
Oper. exp., includ. taxes... 23,885,801
24,492,130
25,252,807 Hewitt, President. (V. 50, p. 873.)
N ew Y o r k Sc H a r le m .—Owns from New York City to Chatham
$12,527,506 N. Y., 127 miles. From Chatham to Albany, 24 miles, the Boston A
Net earnings.........................$11,555,295
$12,516,274
Albany Railroad is used. This company owns the Fourth Avenue street
66*84
P. c. of oper. exp. to earns.
67*39
66T8
railroad. The property (except the horse railroad) was leased April 1,
income account .
1890-91. 1873, for 401 years to the New York Central & Hudson River Railroad
1889-90.
at 8 per cent dividends on the stock and the interest on the bonds. The
Receipts—
$
$
12,516,274
12,527,506 preferred stock is $1,361,350 ; balance, common. The Fourth Avenue
Net earnings............... ...................... .
horse railroad has paid dividends annually in April, viz.: From 1882 to
Rebate on State tax of prior years.. , . . .
111,030
1889, inclusive, 2 per cent yearly; in 1890 and 1891, in April, 2%
per cent.
fc
Total income...................................................................
12,627,30412,527,506 All operations included in New York Central < Hudson. (V.
51, p. 494)
Disbursements—
N ew Y o r k L a ck a w a n n a Sc W e ste rn .—( See Map o f Delaware
Rentals paid...............................................
4,053,3931
Lackawanna < Western.)—From Binghamton to Buffalo and Interna
£
Interest on debt..................................................................
3,590,535 >8,860,456
tional Bridge and branches, 214 miles; Delaware Lackawanna & West
Taxes on earnings and capital stock___
209,884 )
ern has a lease for 99 years, giving a guaranty of the bonds and 5 per
Dividends................................
(4%%)4,024,273 (4%) 3,577,132
cent yearly on the stock (endorsed on the certificates). In 1890 a mort
Total disbursements...........................
11,878,085
12,437,588 gage for $5,000,000 4s was authorized to reimburse Delaware Lacka
wanna & Western for advances. In 1890 gross, $8,087,853; net, $4,Balance, surplus........................................
749,219
89,918
125,894, against $3,562,344 in 1889. (V. 50, p. 703.)
Year
Net Income DiviN ew Y o r k L ake E rie Sc W e ste rn .—Main line Jersey City to
ending Passenger Freight (ton)
Gross
over exp., dends,
Dunkirk, N. Y., 460 miles, with branches 581 miles; total 1,041 miles.
Sep.30. Mileage.
Mileage.
Receipts. int.«ferents. p.c. Surplus
1886. .476,128,729 2,414,266,463 $30,506,362$4,650,100 4 $1,072,968 Owns Piermont, N. Y., to Dunkirk, 446 miles; branches—Newburg, 19
1887. -528,308,742 2,704,732,176 35,297,055 5,147,509 4 1,570,377 miles; Buffalo, 61 miles; Newburg & New York Railroad, Vails & Gate
1888. -559,816,0012,899,501,504 36,132,920 3,675,118 4
97,986 Junction to Greenwood Junction, 13 miles; small lines (stock owned),
1889. -564,292,588 2,775,582,891 35,696,236 4,166,348 4*2 142,074 10 miles; total owned, 549 miles. Leases—Jersey City to Suffems, N. Ÿ.
1890*.557,727,282 2,973,598,069 37,008,403 4,773,492 4
749,219 (several small roads), 31 miles; Jefferson Railroad, 45 miles; Buffalo
Bradford & Pittsburg, 26 miles; Buffalo New York & Erie, 140 miles; Sus
pension Bridge <eErie Junction, 24 miles ; Rochester & Genesee Valley,
f
* Year ending June 30.
18 miles; Avon Geneseo A Mount Morris, 18 miles; Buffalo A South
—(V. 50, p. 7, 206, 391, 669, 834; V. 51, p. 21,143, 43 7 , 4 5 5 , 458, 646, western, 66 miles; Northern of New Jersey,‘26 miles; other small lines,
876,910; V. 52, p. 203, 463, 534, 643, 796; V. 53, p. 6 , 22.)
98 miles; total leased, 492 miles; total New York Lake Erie & Western,
f
N ew Y o r k C hicago Sc St. L o u is .—(See Map o f New York Cen 1,041 miles. Also leases New York Pennsylvania <cOhio and branches,
tral < Hudson R iver.)—Owns from Buffalo, N. Y., to Illinois State Line, 596 miles, and owns the entire stock of the Chicago & Erie, running from
&
512 miles; leases in Buffalo, 1% miles; Illinois State Line to Chicago, 9 Marion, O., to Hammond, Ind., 249 miles, and leasing trackage over
the Chicago & Western Indiana, 19 miles, to Chicago.
miles; total, 523 miles.
The former Railway Co. was formed in 1881 and became known as
O rg an ization , L eases , «fee.—The New York & Erie Railroad waa
the “ Nickel Plate.” Sale in foreclosure took place May 19,1887, and chartered April 24,1832, and opened to Dunkirk April 22,1851. Re
organized as Erie Railway Company in 1861, and sold under the second
the present company was formed in September 1887. The 1st preferred
stock is for $5,000,000, and has a 5 per cent preference, non-cumulative, consolidated mortgage in 1878 ; reorganized as at present June 1,1878
and the preferred stock for $ 11 ,000,000 has next preference for 5 per The Long Dock Company has stock of $800,000, all owned by the New
f
cent, non-cumulative; common stock is $14,000,000; par of all, $100. York Lake Erie <eWestern; its property consists of lands and lands under
Lake Shore & Michigan Southern owns $6,240,000 common, $6,275,000 water, about 577 acres, with piers, buildings, &o. The New York Lake
2d preferred and $2,503,000 1st preferred stock. A sinking fund of Erie & Western Coal <eRailroad Company is an auxiliary corporation
f
$100,000 per year is provided when the net earnings are $900,000 or from which advances of $1,121,917 are due, as per balance sheet of
IN V E S T O R S ’
9 4
SUPPLEM ENT.
[V o L . L III.
Subscribers w i l l confer a great fa v o r by g iv in g im m ediate notice o f an y e rro r discovered in these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount
Par
of
When
For explanation of column headings, Ac., see notes of
Outstanding Rate per Payable Where Payable, and by Stocks—Last
Whom.
Dividend.
Road. Bonds Value.
Cent.
on first page of tables.
2fow York Lake Erte < Western—( Continued.)—
£
N. Y. Lake Erie & West, funded coupon bonds.c*
'1 st lien mortgage, sinking fund not drawn, g.c*
'2 d consolidated and funded coupon bonds— c*
Collateral trust bonds, g., s. f. drawn at 110..c*
Funded coupon bonds, g. (red. at 105 & int) ..c*
Income bonds (non-cumulative)........ . . .............
Car trust bonds, sér. C. to G. incL, part pd. ann.o*
N. Y. Car trust, 1888, ser. A. (guar, by D. & H.)..
Long Dock Co. 1st mortgage...... ......................... c*
Consol, mort., gold ($7,500,000) red at 1 1 0 ...c*
Newburg & N. Y. 1st mort., extended in 1889..c*
N. Y. L. E. & W. Coal &RR. 1st M. gu.,endorsed.c*
N. Y. L. E. & W. Dock & Imp. Co. 1st mort.......o*
N. Y. & Massachusetts—1st mort. (for $2,750,000)..
N. Y. <•N. England—Stock ($20,000,000 authoriz’d)
£
Preferred stock, 7 per cent cumulative.............. .
1st mortgage ($6,000,000 are 7s)............. ............ .
2d M.,part scaled ($998,000 are 5s till Feb.,1892)
Boston Terminal 1st mortgage .............
c*
Rhode Id. & Mass. 1st mort for $1,500,000 guar.
Mew England Equipment Co. 1st mort., gold.. . . c
526
534
12
113
321
321
....
1878 $500&c. $3,705,977
1,000
1878
2,500,000
1878 500 &c. 33,597,400
1882
1,000
3,365,000
1,000
1885
4,031,440
1878 300 &c.
508,008
1888
1863
1885
1868
1882
1883
1888
1876
1882
1889
1890
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
100
1,000
1,000
1,000
é
M. & S. New York and London.
M. & N.
do
do
J. & D.
do
do
M. & N.
do
do
J. & D.
do
do
6
J. & D. Paid 6 p.c. Jan. 15,1891
5
Various N. Y., 21 Cortlandt St.
5
J. & J.
do
do
7
J. & D.
do
do
do
do
6 g. A. & 0.
5
J. & J.
do
do
M. & N.
6
do
do
6
J. & J.
do
do
A. & O.
5
7 g.
6 g6 g6 g.
5 g.
(?)
3,000,000
4,500,000
250,000
1 ,100,000
4,000,000
(?)
19,777,000
2,700,000
3%
10 ,000,000
6 &7
5,000,000
5 &6
1,386,000 , 4
5
435,000
6 g.
M.
J.
F.
A.
&
&
&
&
Sept. 1, 1920
Dec. 1, 1908
Dec. 1, 1969
Nov. 1, 1922
Dec. 1, 1969
June 1, 1977
1900, ’02, ’05
$63,000 Jan. 1
June 1, 1893
Oct. 1, 1935
Jan. 1, 1929
May 1, 1922
July 1, 1913
1938
N. Boston,Of.,244 Fed’l St. May
J. Boston, S. Dep. & Tr. Co. Jan.
A. Boston, Treas’r’s Office. Aug.
O.
do
do
Apr.
1,
1,'
1,
1,
1891
1905
1902
1939
F. & A. Boston, OldColonyTr. Co Aug.,’92 to’97
—(V. 50, p. 484, 621, 706, 801; V. 51, p. 206, 207, 569, 734, 747*
7 4 9 , 788, 909; V. 52, p. 280, 390, 642, 681, 762; V. 53, p. 187.)
N ew Y o r k Sc N ew E n g la n d .—Owns from Boston, Mass., to
Hopewell Junction, N. Y „ 215 miles, (and thence has trackage via the
Newburg Dutchess <e Connecticut to a connection with the New York
f
Central & Hudson River Railroad at Fishkill, 13 miles) Providence, R.
I., to Willimantic, Conn., 59 miles; branches, Newton, Mass., to
Woonsocket, R. I., 28 miles; East Thompson, Conn., to Southbridge,
Mass., 17 miles; East Hartford to Springfield, 28 miles; other small
branches, 13 miles; total owned, 360 miles. Leases—Rhode Island &
Massachusetts, Franklin to Valley Falls, 14 miles; Vernon to Rockville,
4 miles; Franklin to Ashland, 20 miles; Norwich & Worcester RR.
(which see), 66 miles; Providence & Springfield (which see), 26 miles,
and Woonsocket & Pascoag, 11 miles; total leased, 141 miles; also has
running arrangements over 24 miles more. Total, 525 miles. Controls
Norwich & New York Steamer line.
Org an ization .—The former Boston Hartford & Erie Railroad be
came insolvent and was succeeded by this company, formed in 1873.
From January 1, 1884, to January 1,1886, the road was in the hands
of a receiver.
In March, 1891, it was agreed to guarantee $1,500,000 bonds of the
Rhode Island & Massachusetts Railroad, to be issued for double-track
ing and extending the line to Providence, to guarantee $1,000,000
Providence & Springfield bonds and to lease the Woonsocket & Pascoag
.
Railroad. See V. 50, p. 735, and V. 52, p. 350, 428.
In March, 1891, leased for 99 years the Providence & Springfield,
which, with the Woonsocket & Pascoag Railroad, it began to operate
April 1,1891. See Y. 51, p. 142; V. 52, p. 350.
In September, 1891, a traffic arrangement was made with the Long
Island Railroad—see that company.
Stock and B onds.—The preferred stock is 7 per oent cumulative, but
without interest.
In June, 1891 $600,000 preferred stock was sold at par to pay float
ing debt incurred, for construction. The subscriptions for this stock
are payable 50 per oent June 15 and 25 per cent Aug. 1, and 25 per
cent Sept. 1. See statement in V. 52, p. 973. Loans and bills payable
July 1, 1891, $667,780.
Dividend on preferred stock have been 7 per cent yearly since its
issue in 1886.
Price of common stock: In 1883, 1712® 521 ; in 1884, S ® ^ ^ ; in
4
1885,12^®39% ; in 1886, 3 0 ^ 6 8 = 8 ; in 1887, 34%®66; in 1888, 29%
@53%; in 1889, 41%@53%; in 1890, 28®52%; in 1891, to Sept. 18
Inclusive, 31®42 78.
Trustees of 1st mortgage are Boston Safe Deposit & Trust Company; of
2d mortgage W. T. Hart, E. C. Fitz and F. J. Kingsberry. Stock is re
served for $223,000 convertible Boston Hartford & Erie Berdell bonds.
Of the 2d mortgage bonds $998,000 bear 5 per cent to February, 1892,
and 6 for balance of term. There are also $362,625 real estate mort
gages and contract obligations.
The New England Equipment Company’s bonds are not guaranteed,
but are secured by a first lien on certain equipment costing $485,000,
and by $460,000 notes of the N. Y. & New England RR. Co. The bonds
mature as follows: From Aug. 1,1892, to Aug. 1,1894, $25,000 yearly?
Aug. 1,1895 and 1896, $100,000 yearly; Aug. 1,1897, $160,000.
E arnings , &c.—The earnings for the first six months of the company’s
fiscal years 1889-90 and 1890-91 were as follows:
/—
Six Mos. End. June 30.—
,
1889-90.
1890-91
$
$
Total gross earnings........ ............. 27,217,989 27,004,406 29,068,935
2,918,418
Proportion paid leased lines........... 2,385,170
2,409,133
2,614,101 Gross earnings............................. ............... — 2,798,294
Net earnings.................. . ...................... .......... 878,473
885,500
Leaving as gross revenue.............. 24,832,819 24,595,273 26,454,834 Other income.............................................................. 2,267
3,568
Total operating expenses...............18,003,469 17,854,425 19,505,951
Total net income.........................
880,740
889,068
Net earnings..................................... 6,829,350
6,740,848
6,948,883 Interest, rentals and taxes............................... 848,077
909,673.
P. o. oper. exp. to total gross earn’s. 66-1454
66-1167
67-1024
Balance......................................................... Sur.32,663
Def.20,605
COMPARATIVE STATEMENT OP PROFIT AND LOSS.
Fiscal year changed to end Deo. 31. Annual report for year ending
1887-88.
1888-89.
1889-90.
December 31,1 8 90 , in Chronicle, V. 52, p. 389.
$
$
Credits—
$
In the following the figures for 1890 are for the calendar year, the
6,740,848
6,948,883
Net earnings.......................... 6,829,350
305,225
343,758
360,557 others for years ending September 30.
Pavonia ferries earnings.......
391,897
432,656
454,589
Interest on securities.............
INCOME ACCOUNT.
240,719
300,090
274,870
Other credit items.............
1890'.
1886-87. 1887-88. 1888-89.
488
490
488
405
Miles operated....................
7,817,352
8,038,899
Total credits..................... 7,767,191
Receipts—
$
$
$
$
Debits—
Total gross earnings........ 4,151,917 5,268,408 5,563,408 6,029,125
269,930
244,291
341,627 Net earnings.. . . . . . . . . . — 1,398,175 1,747,816 1,844,575 2,007.857
Pavonia ferries—expenses....
4,706,836
4,693,021
Interest on funded debt........ 4,755,882
9,301
3,699
5,043
65,768
55,245
55,245
55,245 Other receipts....................
Weehawken docks—interest..
40,484
46,292
164,750
Interest on loans................
1,463,943 1,752,859 1,848,274 2,017,158
6,410
6,853
6,787
Interest on mortgages, &o...
314,563
Disbursements—
$
$
$
$
272,239
319,488
Interest on equipment...........
66,636
353,744
383,272
410,793
1,206,055
1,220,884 Rentals paid............
Rentals of leased lines........... 1 ,212,666
Interest, etc........................ 969,620
999,238 1,013,133 1,043,384
91,802
114,862
119,875
Taxes.......................- ...............
163,566
229,010
251,640
283,800
100,244
55,692 Taxes............................
60,416
Claims of prior years.............
135,975
139,416
170,341
189,000
251,008
259,602
201,275 7 p. c. div. on pref. stock..
Other debit items....................
Sept. 30,1890; in August, 1890, $3,000,000 of its* bonds were guaran
teed principal and interest (by endorsement on bonds), the property
being leased till July 1,1925, at a rental equal to that interest. See Y .
51, p. 752, and description of property in Y. 52, p. 642.
In the reorganization of the Chicago & Atlantic (now Chicago & Erie),
there were issued $12,000,000 4-5 per cent 1st mortgage bonds, interest
on which is guaranteed, Erie receiving for debts due and in
consideration of guarantee $2,000,000 of these lsts, $5,000,000 in
comes and all the $100,000 stock. See Ch ro nicle , V. 50, p. 621, 752:
Y. 51, p. 911. Road was turned over to Erie on September 1,1890.
Stock and B onds .—Preferred, stock has a prior right to 6 per cent
toon-cumulative) from the net profits, “ as declared by the board of
directors,” biit the U. S. Supreme Court held in 1886 that this stock has
no legal right to claim a dividend, though net earnings are sufficient.
Dividends since 1876—On preferred stock from 1882 to 1884, in
clusive, 6 per cent—none since.
Price of common stock—In 1884, 11 18@2838; in 1885, 9 1 @ 2778; in
4
1886, 22%@383s; in 1887, 24Je®355 in 1888, 223s®30%; in 1889,
8;
25 38®3078; in 1890,16 ® 2 9 1 ; in 1891, to Sept. 18 inclusive, 17^®31%.
2
Price of preferred stock—In 1880, 4 7 ® 9 3 1 ; in 1881, 8 0 1 ® 9 6 12 ; in
2
2
1882, 67®88%; in 1883, 72®83; in 1884, 20®71; in 1885,18® 57; in
1886, 501
2®811 in 1887, 59®76; in 1888, 52%®67%; in 1889, 61®
2;
71%; in 1890,46®691 in 1891, to Sept. 18, inclusive, 4 7 %@ 7238.
e;
The first lien bonds of 1878 have an accumulative sinking fund of
$ 100,000 yearly and might be called for payment, but the company
• has decided that redemption shall be by purchase only.”
•
The first consolidated funded coupon bonds are secured by lien of con
solidated mortgage. On the second consolidated mortgage (Farmers’
Loan & Trust Company, trustee) no foreclosure can take place till six
successive coupons are in default, but all of one coupon must be paid
before any part of a subsequent coupon is paid. In 1883 the collateral
trust bonds were issued (the United States Trust Company, trustee; see
Y. 38, p. 509), redeemable at 110 on three months’ notice. The second
consolidated funded coupon bonds of 1885 were issued to fund three
past-due coupons and the coupon of June, 1886, the coupons being de
posited as security. These bonds are redeemable at any time at 105 and
accrued ihterest. The Long Dock mortgage for $7,500,000 was issued
in 1885 ($3,000,000 being reserved to meet the old bonds), and the
bonds are payable at 110 from land sales.
The N. Y. L. E. & W. Coal & RR. Company’s bonds were described in
V. 52, p. 642. See also above under “ Organization, Leases, etc.”
F inances , E arnings , E tc .—On July 1,1891, company’s gross float
ing debt (including charges accrued, etc.) was $7,251,181; bills receiv
able and cash, $3,904,395; net floating debt, $3,346,786 (against
$3,594,678 April 1,1891). Other assets—Supplies, $947,162; paid on
equipment account, $4,181,306; advances fo other companies (Chi
cago & Erie, etc.), $5,084,961; total other assets, $10,213,430, against
$10,320,196 April 1,1891.
From October 1 to July 31 (10 months) in 1890-91 gross earnings
were $24,209,114, against!$23,700,534 in 1889-90; net, $8,296,726,
against $8,119,351; net, less proportion due roads operated on a
percentage basis, $6,174,488, agamst $6,001,546. For year ending
June 30,1891, surplus over charges was $709,377, against $1,021,909 in 1889-90.
The annual report for year ending September 30,1890, was published
in the Chro nicle , V. 51, p. 734, 747, 749. The gross earnings include
the New York Pennsylvania & Ohio and all the leased lines.
1887-88.
1888-89.
1889-90.
Balance, surplus.
7,028,348
738,843
7,042,576
774,776
Total disbursements... 1,335,797
7,178,644
128,146
860.254 Balance, surplus.
1,721,408 1,818,386 1,926,977
31.451
29,888
90,187
S e p t e m b e r , 1891.J
R A IL R O A D
STOCKS
AND
95
BONDS,
S u bscribers w i l l con fer a great fa v o r by g iv in g im m ediate notice o f an y e r ro r d is c o v e r e d in these T a » ! * » . ^
INTEREST OR DIVIDENDS.
pal .When Due.
RAILROADS.
Miles Date Size, or
Amount
t>cr When Where payable, and by Stocks—Last
Par
of
of
Dividend.
For explanation of eolumn headings, &o., see notes
Outstanding K
Whom.
Payable
Road. Bonds Value
on first page of table.
2 i«
Q .-J. New Haven, Co.’s Office.
$100 $18,700,000
J. & D N. Y., Chem’al Nat. Bk.
4
123 1883 l , 00 0 &c 2, 000,000
do
do
A. & O
6 &7
2 ,000,000
1,000
12 1873
Harlem & Portchester, leased, 1st mort, guar.c&r
do
do
J. & D
4
1 , 000,000
1,000
12 1881
2 d mortgage, guar............................ - - - ......... °* r
N. Y., Office, 32 Nassau
A. & O.
1 , 200,000
1,000
57 1887
New York A Northern—1st mortgage, gold............c
5 g- J. & D, 1st coup, due June ’92
3, 200,000
4 g.
1,000
1887
57
2d mortgage, gold (income till Dec., 1891).... ...c
4.000.
000 6 g. M. & S. N.Y., Office, 18 Exch. PI
1,000
New York Ontario A W est—1st M., g. (red. at 110).c 320 1884
5.600.000
lor &
5 g. J. & D. IN. Y. Office & London
320 1889
©onsoL M. ($10,000,000) g.,red. at 105 in ’99..c
8 .000 .
000 6 g. M. & S. N. Y., Farm. L. & Tr. Co
437 1880 5Ö0 &c.
New York Penn. A Ohio—Prior lien, gold, $ & £ . .c
London.
J. & J.
44.318.000
1st mort., gold (no foreclosure till 1895) $ & £ - 0^ 437 1880 500 &c. 14.500.000
I e ' M. & N.
None paid.
5 g.
437 1880 500 &c.
2 d mortgage, incomes, $ & £ ................ ..............° ,
None paid.
M. & N.
30,000,000
437 1880 500 &c.
3d mortgage, incomes, $ & £ - - -........ -- -• - •-- - •- ®
London,
£225,300
i g- M. & N.
£100
1888
Equip, trust bonds, sink, fund 3 p. c. (dr n at 100)
do
J. & D.
5
£242,500
£100
1890
Equip, trust bonds, sink, fund 3 p. c. (dr n at 100)
15,527,508
Deferredint. warrants, cony, into 1st M. ponds..
J. & J. N. Y., Farm. L. & Tr. Co
250.000
6 g.
17 1887
New Castle & Shenango Valley, 1st M., int. guar.
do
do
4i«g. J. & D.
164.000
1,000
15 1889
Sharon (leased) 1 st mortgage, gold....................
1.848.000
1,000
6 g. J. & J. Phila., Penn. RR. Office
112 1883
N. Y. Phila. A Norfolk—1st M., g., $16,500 p. m. .c
do
do
6
1 , 000,000
1,000
112 1883
Income M., non-cumulative, $10,000 per mile— r
Q .-F . N. Y., Central Trust Co
«
5.000.
000 2 1
100
141
N. Y. Providence A Boston—(Stonington)— Stock.
do
do
J. & J.
1 .000 .
000 7
1,000
50 1869
First mortgage, Providence to Stonington........ c
do
do
A. & O.
4
300.000
1,000
12 1881
1st mortgage (Stonington to New London)....... c
4
62 1891
( )
Mortgage for $4,000,000— ........ - - •
•
‘
N. Y., Corbin Bank’g Co
772.000
5 g. M . & S .
1,000
7 1887
N . r. ARockawayBeach—1st M.,g.,end sed by L. I.c
5
1, 000,000
1,000
18 8 7
Income bonds, nonTCumulative.................. — ,,,v
New Fork New Haven A Hartford—Stock.............
1st mortgage (for $5,000,000)............ -•-..........-1
1
_(V 40 T 145 . 301. 401, 758: V. 50, p. 174, 206, 245, 622, 669; V. 51;
,
p 142, 206, 458, 6 0 8 , 681, 910; V. 52, p. 4(5, 350, 38 9, 428, 761, 796»
V. 52, p. 863, 940, 973; V. 53, p. 224.)
N e w Y o r k N e w H a v e n A H a r t f o r d .-O w n s from Woodlawn,
N Y to Springfield, Mass., 123 miles ; branches to New Britain, Middletown and Suffield, etc., 18 miles; total owned, 141 miles; leases—Shore
Line Railroad, 48 miles ; Boston & New York Air Line and branch, 55
miles; New Haven & Northampton Railroad, New Haven, Conn.,
Conway Junction, Mass., and branches, 137 miles ¡Naugatuck Raüroad,
Naugatuck Junction to Winsted, Conn., and branch, 61 miles ; Hartford
■ Connecticut Valley, Hartford to Fenwick, Conn., 46 miles ; other lines,
&
•29 miles ; total leased, 367 miles ; total operated, 508 miles. The com
pany uses the New York & Harlem Railroad from Wilhamsbridge into
New Y o rk City and pays a large rent therefor.
. .. ..
Dividends of 10 per cent have been paid regularly since consolidation
in 1ft72
Price of stock—In 1885,175®204; in 1886, 204V®223 ; in 1887, 208
<®233 f in 1888, 21 5 ®244; hi 1889, 241®279; in 1890, 244^® 270; in
1891. to Sept. 18 „ inclusive, 225®271,
Stock authorized, $50,500,000. It may be issued for improvement
buying stocks and bonds of leased roads, &c. (V. 48, p. 688 ). In 188»
stock was increased to $18,600,000. InJanuary, 1891, i t ^ a s an
nounced that the stock would be increased on October 1,1891, by the
issue of 46,750 shares at par to the stockholders of record on March
31, who pay for it $50 a share on July 1 and $50 a share on Octo
ber 1. The new stock will not participate in any dividends payable
Oct. 2, 1891
June 1, 1903
Oct., 1903
June 1, 1911
Oct. 1, 1927
Dec. 1, 1927
Sept. 1, 1914
June 1, 1939
Mch. 1, 1895
July 1, 1905
May 1, 1910
May, 1915
May 1, 1908
June 1, 1910
July 1, 1917
June 1, 1919
Jan. 1, 1923
Oct. 1. 1933
Aug. 10,1891
Jan., 1899
Apr. 1, 1901
Sept. 1, 1927
Sept. 1, 1927
“ The company has already completed the extensive construction in
which it has been engaged for the past two years, and is free from
floating debt. Its railway and equipment are in excellent condition and
its earnings constantly increasing.”
From July 1, 1891, to July 31, 1891 (1 month), gross earnings on
425 miles were $298,165, against $240,083 in 1890 on 425 miles; net,
$92,840, against $59,908.
i L
■
.
. .
.
Fiscal year ends June 30. Report for 1889-90 was given in full in
Ch ronicle , V. 52, p. 168. The figures below include throughout the
earnings of the leased lines.
1890-91.
1889-90.
1888-89.
425
371
371
Miles operated.
$2,809,706
$2,200,446
$1,975,471
2,155,376
1,768,042
1,630,345
Disbursements-
$345,126
$432,494
$654,330
$345,126
Balance, net earnings...
$432,404
$729,330
)
(
V 282,480 <
203,000
4,213
78,748
453,902
5,034
169,954
$282,480
$62,646
$285,961
$106,442
$628,890
$100,440
!OME ACCOUNT.
Rentals.
Balance, surplus.............
(V. 50, p. 1 0 5 , 314. 707, 771, 8 7 4 .9 1 0 ; V. 51, p. 2 1 , 5 3 8 ,0 0 9 , 0 / 2 ,
788; V. 52, p. 1 6 2 ,1 6 5 , 280, 391, 609, 7 6 2 ; V. 53, p. 21, 256.)
^ Fiseal year changed to end June 30. Report for nine months ending
N e w Y o r k P e n n s y lv a n i a A; O h io .—Owns from Salamanca, N .Y . ,
June 30,1890, was in V. 51, p. 456. Reports to New York State Railroad
to Dayton, O., 388 miles; branches—to Oil City, 34 miles, other
Commissioners showed the following for years ending June 30 :
branches. 15 miles; total owned, 437 miles. Leased lines—Cleveland &
EARNINGS, EXPENSES AND CHARGES.
Mahoning Valiev Railroad and branches, 124 miles; Sharon Rail
1890-91.
1888-89.
1889-90.
Aprii, 1981,) Sharon, Pa., to Sharon Junction and
$11,323,616 way (till 14 miles; New Castle & Shenango Valley. New Castle to
Gross earnings.................... $10,094,487
$10,749,167
branches,
$3,615,257 West Middlesex, 17 miles; other lines, 4 miles; total operated, 596
Total net income . . . ........... $3,146,931
$3,518,776
miles. Formerly Atlantic & Great Western Railway. Sold July 1,
Deduct—
£
$1,713,161 1871, and again January 6,1880, reorganized, and again leased to Erie.
$1,615,766
Interest, rentals and taxes. $1,470,287
The lease to New York Lake Erie & Western made April 30,1883,
1,870,000
1,705,000
Dividends (10 per eent) —
1,550,000
was modified April 1, 1887, and again October 1,1889. See V. 49, p.
793. The rental is 32 per cent of all gross earnings until these reach
Total
.................. $3,020,287
$3,320,766
$3,583,161 $6 ,000 ,000 , and this proportion decreases by 1-10 of 1 per cent for
Surplus.......... ................
$126,644
$198,010
$32,096 each $ 100,000 of gross earnings above $ 6 ,000,000 until the gross earn
—(V. 50, p. 245, 736; V. 51, p. 304, 456, 494, 681; V. 52, p. 121, 280 ings are $8,000,000. If earnings equal or exceed $9,000,000, the rental
shall be 28 per cent. But if 32 per cent of the ^oss earnings should
70 7; V. 53, p. 95, 368.)
N e w Y o r k & N o r t h e r n .—Owns from 155th Street and 8th Ave. ever be less than a specified minimum sum of $1,757,055 to be paid
nue. New York City (connecting with Metropolitan Elevated), to yearly, then the deficit is to be made up without interest out of the
year.
__
Brewsters, N. Y., 54 miles; double track branch from Van Cort- excess in any subsequentthe voting power of
Five trustees exercise
landtto Yonkers, 3 miles; operates 4 miles; total, 61 miles. The New third mortgage bondholders, receive 7 per cent the new stock until the
interest
York City & Northern was sold in foreclosure August 17,1887, ana tins three years. The first mortgage bonds bear 7 per cent,in ca<sh during
whatever por
company was organized with common stock of
,000,000 ananoiinot be earned to be
cumulative preferred 5 per cent stock of $6,000,000; par, $100. Trus tion of this that maybonds of the same payable in deferred warrants,
to be capitalized in
class; payment or interest to
tee of 1st mortgage is Central Trust Co.; of 2 d mortgage, Farmers Loan become absolute not later than July 1 , 189o, and until July 1,1895,
& Trust Co. Equipment trust certificates July 1, 1891, $95,409.
second and
For year ending June 30, 1891, gross earnings were $483,427; net, the right to foreclose the mortgage is suspended. On theto
$90,417; interest paid, $60,000; taxes, $20,250; construction account, third mortgages ithere is no right to sue the company or par,foreclose.
Stock is—preferred, $10,000.000; common, $34,999,350;
$50;
etc., $15,426. In 1889-90 gross, $571,210; net, $105,316. (V. 50, p. deferred warrants September, 1890, were $14,333,841. There the
are
244; V. 51, p. 458, 681, 7 1 4 ; V. 52, p. 239, 707; V. 53, p. 224.)
also $65,270 6 per cent car trusts, due 1893. .
JJ
N e w Y o r k Ontario A W estern .—( See Map.)—Owns Oswego,
For year ending September 30,1890, rental received was $2,239,213,
N. Y., to Cornwall, N. Y., 273 miles; branches to New Berlin, 22 miles; other income, $20,891; total income, $2,260,104; taxes, etc., $61,129;
to Delhi, 17 miles; to Ellenville, 8 miles; total owned, 320 miles ¡ leases interest, $1,257,006; rentals and other charges, $863,253; surplus for
Randallsville to Utica, 32 miles, and Clinton to Rome, 12 miles; (mper- year, $78,716. See V. 51, p. 751. (V. 50, p. 632; V. 51, p. 609, 7 5 1 .)
petuity) Ontario Carbondale & Scranton Railway, Hancock, N. Y„ to
Ne
P h ila d e lp h
Operates from Delmar,
Scranton, Pa., 54 miles; Wharton Valley Railroad to Edmeston, 7 miles. Del., w Y o r kCharles, Va., 95ia & N o r f o lk .—Creek, Md., to Crisfleld,
to Cape
miles, and
By contract has right over West Shore Railroad from Cornwall to wee- 17 miles; total, 112 miles. Successor King’s
Com
hawken, 53 miles, by payment of trackage; total operated, 478 miles. pany of Virginia. Has traffic contractof the Peninsula RailroadPenn
till January, 1895, with
Extension to Scranton, Pa., 54 miles, was completed in July, 1890.
cent
The New York & Osw.ego Midland was sold in foreclosure November sylvania Railroad, which company sets aside 10 per807. gross earnings
to purchase
p.
14,1879, ana this company organized. As to agreement in 1891 with N. $1,714,375; 1st mortgage coupons. See V. 47,bottomryCapital stock,
par, $100. There is a six per cent
mortgage for
Y. Central, see V, 52, p. 609.
$225,000, due Jan. 1,1892.
_ _ ,QQ
Q
Stock and B onds.—Stock is $58,119,982 (par $ 100 ), of which $6,000
In 1890 gross earnings were $803,197; net, $165,545. In 1889 gross
is preferred. In January, 1891, it was proposed to classify the common earnings were $671,432; net, $146,013. (V; 50, p. 245; V. 51, p. 142.)
stock into common and preferred, but no action has yet been taken to
N ew Y o r k P r o v id e n c e & B o s t o n .—Owns
.^oyideime, R.
that end. (V. 52, p. 165.)
.
, ,_
London,
Price of stock—In 1885, 6%®20^8; in 1886,15®223s; in 1887,14%® I., to New 18 miles;Conn, (including the Thames River bridge), 62 miles,
branches.
leases-*Pawtuxet branch road, 6 m iles; Providence
201 ; in 1888,14® 19; in 1889,14i«®22 78; in 1890,13®22%; in 1891, & Worcester RR. (which see), Providence to Worcester and branches,
«
to Sept. 18, inclusive. 14®23%.
^ J
50 miles; total operated 136 miles.
majority
In 1889 the consolidated mortgage (Mercantile Trust Company, Providence & Stonington Steamship Owns awhich hasmterest m the
Line,
trustee,) for $10,000,000 was authorized—$4,400,000 to be reserved for $1,500,000. Dividends since 1876— In 1877 and 1878, a capital of
10 percent,
prior bonds, the remainder for improvements and the extension to from 1879 to 1885, inclusive, 8 ; in 1886, 8 I2; from 1887 to Aug., 1891,
Scranton. The bonds cover the entire road and branches, and $l,500j- both inclusive, at the rate of 10 per cent per annum. Bills payable
000 Ontario Carbondale & Scranton Railroad bonds and $1,495,000
stock deposited with the trustee of the mortgage. See circular in
of
com
full in V. 48, p. iv advertisements and V. 48, p. 326; also abstract of the J TheL°^!latufe 2 3 1Bhi>de Island in June 1891, authorizedthe to be
pany to issue $4,000,000
mortgage in V. 49, p. 238. Guarantees principal and interest $75,000 held to secure the present of 4 per cent bonds, $1,300,000 thereof the
bonded debt, $500,000 for new stock m
Wharton Valley Railroad first mortgage 5s (1 . & N.) due 1918.
)1
E arnings, F inances, &c.—Since the end of the fiscal year 1890-91 Providence & Stonington Steamship Co. (to be i ^ f o r t w o n e w
about
$550,000 first mortgage 6 s have been issued. They were listed on the steamers),held in$500,000 to retire floating debt, the balance, $1,700,the
future
The New. York
N. Y. Stock Exchange in August, 1891, and the application to the 000, to be & Boston treasury forColony requirements. Co. was mcor& the
RR. Terminals
Exchange stated that this would “ complete the entire amount author 1Providence 1891 to constructOldnew station and terminal facilities at
porated in
a
ized by the mortgage, $4,000,000, all of which have been issued. ’
**
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S e ptem ber , 1891.]
RAILROAD
STOCKS A N D
97
BONDS
Subscribers w ill confer a great fa v or b y g iv in g Im m ediate notice o f an y error discovered In these T a b les.
_________
_
.... ....
■- ■ ■
■
■
1
""
/.©
?-Bonds—Princl»
INTEREST OR DIVIDENDS.
pal,When Due.
RAILROADS
Miles Date Size, or
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
Cor explanation of column headings, Ac., see notes of
Dividend.
a d ----Whom
Cent Payable
Road. Bonds Value.
on first page of tables.
N. T. Susquehann <•Western—1st M.,g.,Mid.of N.J.c*
£
1st M., Paterson Exten. and real estate, g........ o*
1st mort., refunding, gold (2d M on 73 miles). .c*
2d mort. ($1,000,000 gold) 3d M. on 73 miles.. .c*
General mortgage for $3,000,000, gold...............c*
N. T. Texas <&Mex.—1st. M.,g.,$ or £,gu.by So.Pac.c*
Norfolk & Carolina—1st mort. for $1,500,000, g.c*
N orfolk < Southern—1st M., $10,000 p. m., gold.o*
£
Norfolk d Western—Common stock............................
c
Pref. stock, 6 per cent, non-cumulative................
Norfk &Petersb’g—2dM. (now 1st) Nor.to Pet’g. o
South Side—Consol, mort., 1st pref., extended, .c
Consol. M. 2d pref., gold, extended:........... ....c
Consol. 3d pref., Petersburg to Lynch. A br’s. .0
Virginia A Tenn. enlarged M. (extend in. 18841.. c
4th M. Lynchb’gto Bristol and branch, 214 m.o
.Norf. A West. Gen7M. .Norfolk to Bristol, etc. g .. .c*
New River division 1st mortgage, gold..........c*
Improv. A Ext. Mortgage, gold........................o*
AdjustmentM., g. (red’ble after Öot.’94 at 110)c*
Clinch Valley Div. 1st M., gold, $19,000 p. m e*
Equipment bonds, 10-20s,dr’n at iOO aft.May,’98
Convertible debent’res, subject to call at lOO.c*
Hundred-year mortgage, for $45,000,000, gold.
¡Scioto Valley A New England, IstM., assum.,g.c*
Norf. A West.—IstM. Maryland A Wash Div.,g.c*
73
1
134
134
134
91
110
104
81
133
133
133
214
214
428
155
583
583
105
971
129
255
1880 $500Ac. $3,500,000
250.000
1,000
1881
3.750.000
1,000
1887
636.000
1,000
1887
700.000
1,000
1890
1,457,500
1882
500
1.320.000
1,000
1889
1,000 a’bt750,000
1891
9.500.000
100
100 40,000,000
1,000
496.000
1868
1,000
290.000
1868
270,500
1868 100 Ac.
452,800
1868 100 Ac.
980.000
1,000
1854
1,000,000
1,000
1866
1,000
7.283.000
1881
1,000
2,000,000
1882
1,000
5.000.
1883
1,000
1.500.000
1884
1,000
2.500.000
1887
1,000
4.284.000
1888
525.000
500
1884
1,000
7.000.
1889
1,000
5.000.
1889
6.500.000
1891 500 Ao.
Providence. Its capital stock is to be $500,000, and it has authority
to issue $3,000,000 bonds, which this corporation and the Old Colony,
having equal control of the company, will either hold or guarantee.
.See V. 53, p. 406.
Report for 1890-91 was in V. 51, p. 875. showing the following:
INCOME ACCOUNT.
1888-89.
140
Miles operated........................
-Gross earnings........................ $2,836,424
Net earnings, inch invest___
$635,106
Disbursements—
$101,661
Interest balance........ .............
Dividends........ .................
375,000
1889-90.
136
$3,088,604
$572,122
$32,186
450,000
1890-91.
136
$3,091,321
$601,627
$94,392
500,000
$482,186
$594,392
Total disbursements............
$476,661
$89,936
$7,235
$158,445
Balance, surplus.....................
—(V. 51, p. 345, 87 5; V. 52, p. 899; V. 53, p. 126, 406.)
N e w Y o r k Ac R o c k a w a y B each .—Owns from Glendale Junction
-to Rockaway Park, 10% miles; trackage to Long Island City, Brook
lyn, Far Rockaway, etc., 19 miles; total operated, 29% miles. Stook
authorized, $1,000,000; outstanding, $937,200; par, $100. Controlled
by Long Island Railroad Company, whose endorsement is printed on
first mortgage bonds. (Formerly New York Woodhaven A Rockaway.)
In year ending June 30,1891, gross earnings were $233,086; net in-come, $46,167; surplus over interest, etc., $8,463, against $1,788 in
1889-90.
N e w Y o r k Su squ eh an n a Sc W e ste rn .—(See Map.)—Jersey City
¡to Gravel Place, Penn., 101 miles; Two Bridges, N. J., to Unionville,
N. Y., 21 miles; other branches, 12 miles; leases—Unionville, N. Y., to
Middletown, N. Y., 14 miles; Pennsylvania Railroad trackage in Jersey
City, 3 miles; small branches, 6 miles; total, 157 miles.
The New Jersey Midland was sold in foreclosure February 21,1880,
.and the Midland of New Jersey was organized. The New York Susque
hanna A Western was a consolidation in June, 1881, of the Midland of
New Jersey and other railroads. The general mortgage 5s of 1890, for
$3,000,000, were authorized for new equipment, double-tracking, etc.,
$1,000,000 being reserved to retire the same amount of second mort
gage bonds of 1887. See mortgage abstract, V. 52, p. 84. Stook, com
mon, is $13,000,000; preferred (cumulative 6 per cent), $8,000,000; par,
: $100. The New Jersey Midland junior securities were exchangeable into
stook of this company on certain terms, and the exchanges up to May
1, 1891, left $224,000 of the old stock, $843,000 income bonds and
$292,000 scrip not yet exchanged. There are also $6,000 old firsts of
1911 and $93,500 debentures of 1897 outstanding.
From January 1, to July 31,1891 (7 months), gross earnings were
$910,683, against $860,160 in 1890; net, $395,304, against $364,334.
Report for 1890 was in V. 52, p. 349.
6 g6 g5 g.
4 *2g.
5 g4 g.
5 g.
5 g1*3
8
5A 6
5 g. A6 g.
6
5
8
6 g.
6 g.
000 6 g.
7 g.
5 g.
5 g.
6
000 5 g.
000 4 g.
5 g.
A.
J.
J.
F.
F.
A.
A.
M.
A
A
A
A
A
A
A
A
O.
D.
J.
A.
A.
0.
O.
N.
A. A b .
J. A J.
J. A J.
J. A J.
J. A J.
J. A J.
J. A J.
M. A N.
A. A O.
F. A A.
Q.—M.
M. A S.
J. A D.
J.15&J16
J. A J.
M. A N.
J. A J.
N. Y., Nat. Park Bank.
N.Y.Of.,15 CortlandtSt.
N. Y., Nat. Park Bank.
N.Y.Of.,15 CortlandtSt.
do
do
N.Y..S.Pac.Co.; London.
N. Y., Central Trust Co.
New York.
Phila., 333 Walnut St.
do
do
do
do
do
do
do
do
do
do
do
do
Cent.Tr. Co. A Phil.
do
do
do
do
do
do
do
do
do
d®
do
do
do
d®
do
do
do
do
Apr.
June
Jan.
Feb.
Aug.
Apr.
Apr.
May
1,
1,
1,
1,
1,
1,
1,
1,
1910
1910
1937
1937
1940
1912
1939
1941
Apr. 23,1891
July 1, 1893
July 1, 1900
July 1, 1900
Jan. ’96-1900
June 30,1900
Moh. 1, 1900
May 1, 1931
Apr. 1, 1932
Feb. 1, 1934
Deo. 1, 1924
June 1, 1957
June 1, 1908
Jan.16,1894
Jan. 1, 1990
Nov. 1, 1989
Jan. 1, 1941
mortgage provides for betterments, extensions, Ac. From November
23,1889, to May 31,1891, gross earnings were $471,335; net, $96,823;
reoeipts from sale of old iron, etc., $88,512; and from receiver s oertiflcates, $160,000; total net reoeipts, $345,335; betterments, $327,9505
interest, $12,978; balance surplus, $4,406. President, WatsomB. Dickerman, 74 Broadway, N. Y.; Registrar of Securities, Atlantic Trust Co.
—(V. 49, p. 719; V. 50, p. 771; V. 52, p. 463, 681.)
N o rfo lk Sc W e s t e r n . —(See Map.)—Owns from Norfolk, Va., to
Bristol, 408 miles; branches—Petersburg to City Point, Va., 10 miles;
Junction 1 to Saltville, Va., 10 miles; short branches, 5 miles; New River
Division, Radford to Elkliorn, 84 miles; Cripple Creek Extension, 30
miles; other, 42 miles), 155 miles; Clinch Valley Division, Graham to
Norton, Va., and branches, 107 miles; Petersburg to Columbus, O. (for
merly the Scioto Valley A New Eng. RR.) 131 miles; Maryland & Wash
ington Division, Hagerstown, Md., to Roanoke, Va., 238 miles, and
branches 17 miles; other lines, 18 miles. Total operated January 1,
1891, 1,099 miles. Under construction—Ohio Extension, to Ironton
on the Ohio River, 195 miles, and Washington branch, Front Royal to
Washington, D. C., 75 miles; other lines, 68 miles. Total of all, 1,437
miles.
Organization , E tc.—The Atlantic Mississippi A Ohio Railroad Com
pany was a consolidation of Norfolk A Petersburg, South Side and the
Virginia A Tennessee roads; it was foreclosed February 10,1881, and
was reorganized as the Norfolk A Western.
In June, 1890, purchased the Scioto Valley A New England Railroad
(formerly Scioto Valley). When the Ohio Extension is completed this
road will afford a through line to Columbus, O. The Shenandoah Valley
RR. was purchased at foreclosure sale September 30,1890. and now
constitutes the Maryland A Washington Division. The connection with
the Louisville A Nashville was completed in June, 1891.
Stock and B onds.—Preferred stock is entitled to 6 per cent noncumulative. In May and June, 1890, $5,000,000 new preferred was is
sued. (See V. 50, p. 735, 834.) In Deo., 1890, $2,250,000 common and
$4,500,000 preferred were issued for Shenandoah Valley securities.
^n June,*1891, stockholders subscribed to $2,500,000 new preferred
stock at $52 50 per share; in July, 20,000 shares more were sold to a
syndicate; and m September, 1891, a block of 40,000 shares was dis
posed of to a London syndicate. It is said the proceeds of 30,000 shares
will be expended on the construction of the Ohio extension, and the
balance of the receipts will be used in retiring the floating debt, which
amounts to about $2,500,000, and in betterments and improvements.
It was also reported in September, 1891, that satisfactory progress had
been made toward inducing the large foreign holders of this stock to
agree to an exchange of the common stock for preferred at the rate of
three to one. If this plan is carried out it will leave the company with
only one class of stock. See V. 52, p. 718, 832; V. 53, p. 126,326, 370.
Dividends on preferred stook—In 1882, 4 percent; m 1884, 3 ^ in
INCOME ACCOUNT.
scrip; in 1888,1*2; in 1889, 3 ; in 1890, 3 ; in 1891, April, 1 *2..
1887.
1888.
1889.
1890.
Price of common stock—In 1883,10® 18; in 1884,10®12i2; in 1885,
$
$
$
$
s; in 1886,
1887,13®233s; in 1888, 151
s
i
Gross earnings................ 1,395,186 1,445,900 1,402,466 1,592,083 8®13714%®221 ;8®27% ; in13®24 V . in 1891, to Sept. 18,®23:4 ; m
1889.
8 in 1890,
inclusive,
Net earnings....................
597,592
595,910
551,438
670,946
•Other income...................
27,159
25,828
33,527
30,401
Price of preferred stock—In 1883, 32®49%; in 1884,17® 42; in 1885,
14®341 in 1886, 25®593a; in 1887, 34ie®5578; in 1888, 41VS5858; 1»
2;
Total............................
624,751
621,738
584,965
701,347 1889, 47*2®61%; in 1890, 48®663s; in 1891, to Sept. 18, inclusive,
46^2'®57^ i
interest on bonds............
441,120
441,120
441,120
445,459
Abstract of Clinch Valley mortgage (Fidelity Insurance Trust A Safe
Rentals..............................
26,494
26,497
26,491
26,446 Deposit Company of Philadelphia, trustee) in V. 45, p. 541; the issue,
Miscellaneous....................
2,541
2,699
12,955
25,776 exclusive of $500,000 for equipment, is at $19,000 per mile.
The equipment mortgage of 1888 (trustee Girard Life Insurance Co.
Total disbursements.
470,155
470,318
480,567
497,681 of Philadelphia) is for $5,000,000, and covers all equipment and rolling
154,596 151,420
104,398
203,666 stock and all car trust obligations purchased with the proceeds of
¿Balance, surplus.............
—(V. 50, p. 312, 3 5 0 ; V. 51, p. 276, 570; V. 52, p. 84, 349.)
bonds issued. There are also $597,110 car trust certificates outstanding,
N e w Y o r k T exas Sc M e x ic a n .—Owns from Rosenberg to Vic
le at various dates.
... ^
.
-j
The 100-year mortgage of 1889 (trustee Mercantile Trust Co.) provides
toria, 91 miles. Stock, $630,040, and Southern Pacific Company owns
r the issue of $20,000,000 bonds, plus additional amounts not exceed¡all but $2 2,040 of it. There are also $60,500 sixes outstanding. Is
g $25,000,000 to redeem by purchase or exchange (provided no in
-operated by the Southern Pacific Company, which guarantees the 4 per
ease in interest charges be thereby created) prior bonds on the 699
cent bonds.
iles built and under construction, which prior bonds must not be inFrom January 1 to July 31 in 1891 (7 months) gross earnings were
eased to exceed $22,825,000 in all. A full abstract of this mortgage
$103,319, against $98,720 in 1890; deficit, $1,168, against deficit
as in the Chronicle, V. 50, p. 208. See also V. 53, p. 126.
.
$26,845. In 1890 gross, $225,629; net, $12,549; deficit under charges,
The Scioto Valley A New England mortgage (trustee Central Trust
$73,971, against $61,684 in 1889. Floating debt (due So. Pac. Co.,
impany) has been limited to $5,000,000, each bond being stamped
•etc.) Jan. 1,1891, $401,662.
L a statement signed by the Secretary of the Norfolk A Western,
th
N o r fo lk Sc C a ro lin a .—Owns from Norfolk, Va., to Tarboro, N. C.,
rtifying that this company “ has assumed and covenanted to pay the
101 miles; branches, 9 miles; trackage to Rooky Mount, 17 miles.
•incipal and interest of this bond.” See application to New York Stock
Successor to the Chowan A Southern; name changed in 1889. Opened
xchange, V. 50, p. 452.
.
._A aAa AAA
April 1, 1890, and forms a part of the Atlantic Coast Line system.
The Maryland A Washington Division mortgage for $10,000,000
Stock, $1,500,000; par, $100. From Sept. 1, 1890 to June 30, 1891
as issued on the Shenandoah Valley Railroad (see V. 51, P- 876),
(10 months), gross earnings on 101 miles were $251,209; operat
¡,500 000 bonds being reserved to extend the line to Washington,
ing expenses and taxes, $202,974; net, $48,234; interest on bonds,
. C., and $1,000,000 for other purposes.
$32,947. President, Warren G. Elliot, Wilmington, N. C.
Earnings, E tc.—The strength of this company has been in its local
N o rfo lk Sc Southern.—Owns Berkely, Va., to Edenton, N. C., 74
miles; (ferry across Albemarle Sound to Mackey’s Ferry, 9 miles;)
FromTanuarv 1 to July 31 in 1891 (7 months) gross earnings on
Khence road to Belle Haven, 30 miles; total road owned, 104 miles;
077 nfiles were $5,038,716, against $4,722,062 In 1890 on 1,024
lerry, 9 miles. The Norfolk Southern was sold in foreclosure April 29,
iles; net, $1,600,448, against $1,493,560.
... ?
____- T _A
1891, and reorganized as now after consolidation with the Albemarle
The annual renort for 1890 was published in the Chronicle, V. 52,
A Pantego RR. Co. Receiver discharged June 1,1891. Capital stock
640, 644 (See° also article p. 621.) In the report the President
is $2,000,000, (par $100,) which was divided among the assenting hold
marks as follows:
ers of the old securities in accordance with the plan. The new first
LNTESTOKS’
SUPPLEM ENT
BONDS
AND
STOCKS
K A IL K O A D
September UM.]
10 0
J NN E S T O R S ’
L
SUPPLEM ENT,
[ V OL. L U I ,
Sn bscrlbers w i l l confer a great fa v o r b y g iv in g Im m ediate notice o f an y e rro r discovered In these Tables.
RAILROADS.
¡Bonds—Pnnoi
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
....
__
„
------pal,When Due.
For explanation of column headings, &c., see notes of
Par
of
Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
North Carolina—Stock, 6p. c. till 1901, Rich. A D. 223
$100 $4,000,000
North Pacific Coast—1st and 2d M. (1st M. sink, fd.)
76 1881
1.090.000
1st mort. North Pacific Coast Extension Co., gold.
5 1883
150.000
No. Perm.—Stock, 8 p. c. guar.990 yrs.,Phil. & Read.
50
88
4,742,950
2d mortgage............................................. ......;___...
56
.... 500 Ac. 1.500.000
Gener al mortgage bonds..................................... .
4.500.000
Bonds secured by $1,200,000 stock..................... r
1881
1.200.000
No. < So. o f III.—1st M.for $600,000 ($10,000p.m.)
&
1890
1,000
(Î)
Northeastern (S. C.)—Stock.....................................
50
900.000
1st mortgage, provided for by consoL mortgage.c Ì02 1869
500
820.000
2d mortgage, provided for by consol, mortgage.c 102 1869
500
322.000
Consol, mortgage, gold (for $1,836,000)............. c
1883
1,000
694.000
Northern, (N. H.)—Stock, 5 p.c.rental till July,1897
83
100
2,997,300
Northern California—1st mortgage..........................
54 1889
945.000
Northern Central—Stock..... ....................... ...............
50
7,518,150
1st mortgage, State of Maryland loan................... 138
1.500.000
2d mortgage.......... ......................... .............. .
c* 138 1865 500 Ac.
1.126.000
Consolidated mortgage, gold.................................. c 138 1868
1,000
2.599.000
Consol, mortgage, gold......................
r 138 1868
1,000
205.000
Consol, gen. M., g.,s.f.,drawn at 100, $or£ AAB.c 138 1874-5 1,000
2.033.000
do
do
gold, $, C A D ................. ..c
138 1876-7 1,000
2, 000,000
do
do
gold, E ................................c 138 1885
1,000
1.320.000
2d gen. mort., series “A” (s. f. $30,OOo yearly).c* 138 1876
1,000
2.676.000
2d gen. mortgage, series B......................................c 138 1876
1,000
1, 000,000
Union RR.,lsUass’d)$117,000 end. byBalt. City, c*
9 ’67-’70 50Ó Ac.
900.000
2d mortgage (assumed) $ or £ ............................ e
9 1873
1,000
600.000
North, o f New Jersey—3d M.,now lst(for$700,000).c
21 1887 lÓOAc.
563,000
Northern Pacific—Common stock.............................
100 49,000,000
Preferred stock (8 per cent, not cumulative)........
100 36,658,612
1st M. and Id. gr. Missouri Div., dr’n at par.c*&r 205 1879 100 Ac.
1st M. and Id. gr. P. d’Or. Div., drawn at par.c*&r 225 1879 100 Ac. I 3313,000 $
Gen.lstM. Id. gr., g., $25,000p. m.,dr. atllOc*<fci 2,146 1881 ljOOOAc 44,482,000
“ Your company has now in operation about 1,100 miles of railroad,
and upon the completion of your Ohio and North Carolina extensions
will have in operation over 1,300 miles; and if ample financial provis
ion be made so that your Company may continue to encourage the de
velopment of the territory tributary to its lines by furnishing necessary
transportation facilities and rolling stock, not only will the'earnings
per mile be maintained, but, making due allowance of time for the de
velopment of newly-opened territory, they will steadily increase. At
no time in the history of your Company have the prospects of increased,
traffic and revenue been so apparent.”
Earnings, Ac., have been as follows:
1887.
1888.
1889.
1890.
Average miles operated.
527
542
591
826
$
$
$
$
Total gross earnings....... 4,254,794 4,899,599 5,597,125 7,561,915
Oper. expen. (inel. taxes). 2,483,780 3,001,927 3,483,352 4,838,610
3
M. A 8
M. A N
Burlington, N. C.
San Francisco,
do
do
Phila. Of., 240 So.Bd St
do
do
do
do
do
do
8ept. 1, 1891
Nov. 1, 1901
Overdue.
2
Q.—F.
Aug. 25,1891
7
M. & N,
May 1, 1896
7
J. & J
Jan. 1, 1903
6
M. & S,
Sept. 1, 1905
1940
l 8' J. & J.
Charleston, Office,
July 1, 1891
M. & S.
do
do
Sept. 1, 1899
M. & S.
do
do
Sept. 1, 1899
6 g. J. & J. N. Y., John Paton A Co. Jan. 1, 1933
l% g. Q .-J. Bost.,Conc’d or Leban’n Oct. 1, 1891
5
J. A D. N. Y., So. Pac., 23 Broad June 1, 1929
3
J. & J. Balt. &Phil.,233 S.4thSt. July 15,1891
6
Q .-J .
Annapolis.
Irredeemable.
6
A. A O. Baltimore A Philadelp’a Apr. 1, 1900
6 g. J. & J. Baltimore, Treas. Office. July 1, 1900
do
do
6 g. IA. & O.
July 1, 1900
J. & J. London and Baltimore.
1,
f i l ' J. & J. Baltimore, Treas. Office, July 1, 1904
July
1904
41
2g. A. & O.
do
do
Apr, 1, 1925
5
J. & J.
do
do
Jan. 1, 1926
5
J. & J.
do
do
Jan. L, 1926
6
J. & J.
do
do
Jan. 1, 1895
6 g. M. & N. N. Y., London A Balt. May 1, 1900
6
J. A J. Jer. City, Hud’n Co. Bk. July 1, 1917
Ï'
N. Y., Mills Building, Oct. 15,1891
Q .-J .
6
M. A N.
do
do
May 1, 1919
6
M. & S.
do
do
Sept. 1, 1919
6 g. J. & J.
do
do
Jan. 1, 1921
I I : J. A J
Railroad, 76miles; operates at cost—Elmira & Lakes Ontario Rail
Summit Branch Railroad, 20 mile; Pennsylvania
v ^ w d 3T n.ll°s ; total operated, 382 miles. In addition uses New
i’
J
^ake Erie & Western tracks, 7 miles, and Philadelphia & Erie
tween Sunbury and Lewisport, 40 miles, and owns Union Rail9 miles, and $622,850 stock of the Baltimore & Potomao RR. Co.
lhe Pennsylvania Railroad owns $3,488,950 of stock.
. Dividends since 1880 have been—In 1881, 5%; in 1882, 6; from 1883
t° 1886 inclusive, 8; in 1887, 8 and 10 stock; in 1888, 7; in 1889. 8:
m 1890, Jan. 15. 5; July 3 per cent; in 1891, Jan., 4; July, 3.
_
1^
31 in 1891 (7 months) gross earnings were $3,192'797’ again8t 836,834 in 1890; net, $1,123,342, against $1,077,Fiscal year ends Deo. 31; report for 1890 was in V. 52, p. 462.
INCOME ACCOUNT.
„
. h
1887.
1888.
1889.
1890.
Receipts—
$
$
$
$
Net earnings..................... 1,771,014 1,897,672 2,113,773 2,723,305
6,203,394 6,069,956 6,608,797
Gross earnings............ 6,212,926
P. o. of op. ex. to earn’gs.
58-38
61-00
62-00
64-00
Net earnings............... 2,073,484
2,109,821
1,944,356 1,687,038
INCOME ACCOUNT.
Other receipts.............
277,348
251,125
307,628
522,951
1887.
1888.
1889.
1890.
Receipts—
$
$
$
$
2,417,449 2,447,7282,209,989
Total income............ 2,324,609
Net, incl’g other income 1,880,511 2,045,110 2,257,921 2,957,225
Disbursements—
$
$
$
$
Disbursements—
Rentals, &c................
460,819
470,706
464,870
475,572
Interest on bonds, Ac.. 1,237,134 1,296,551 1,451,265 1,814,008 Interest on debt..........
902,910
926,505
931,481
924,039
Dividend on pref. stock....................(H2)330,000(3%)660,000 (3) 735,000 Dividends...................... (8)545,946 (8) 571,966 (8) 571,975(7) 526,260
Miscellaneous...............
7,849
............
41,609
88,607 Miscellaneous.............
48,196
79,495
293,828 ' 226,654
Total disbursem’ts. 1,244,983 1,626,551 2,152,874 2,637,615
Tot’l disbursements. 1,957,872 2,048,672 2,262,155 2,152,526
Balance, surplus........
635,528
418,559
105,047
319,610
366,737
368,776
185,573
57,462
Balance, surplus---—(V. 50, p. 311, 519; V. 52, p. 462.)
—(V. 51, p. 143,172,829,876; V. 52, p. 2 7 8 , 280.351,621, 64 0,
718, 832, 899, 902; V. 53, p. 126, 326, 370.
N o rth e rn o f N e w Jersey.—Owns from Bergen, N. J., to Sparkill,
total operated, 26
N o rth C aro lin a.—Owns from Goldsboro to Charlotte, N. C., 223 N. J., 21 miles; leases Sparkill to Nyack, 5 miles;by New
By contract
1869,
miles. Leased September 11,1871, to the Richmond & Danville for 30 miles. Western at 35of April, of its it is operated and five York Lake
Erie &
per cent
gross earnings
fifty-sixths
years at $260,000 per year. Dividends of 6 per cent are paid on the of the balance. It is understood the contract is terminable by either
stock, of v hich the State of North Carolina holds $3,000,000, and the party on notice. The stock is $1,000,000; par, $100. In 1890, gross,
dividends tnus received by the State are applied to her bonds issued to $378,471; net, $39,158; dividends paid $37,500.
the North Carolina Railroad.
N o rth e rn Pacific.—(See Map.)—Line or R oad—June 30, 1890,
N o rth H u d s o n C ounty.—See " M iscellaneous Companies.”
owned: Main line—Ashland, Wis., to Portland and Wallula Junction,
N orth Pacific Coast (N a r r o w G au ge).—Owns San Francisco to Ore., 2,137-miles; Duluth to Northern Pacific Junction (% interest), 24
Duncans, Cal., 79% miles; branch to San Rafael, 2 miles; leases to San miles; 13 small branches, 206 miles. Total owned, 2,363 miles. Leases
Quentin, Cazaden, etc., 13 miles; total operated, 94 miles. Stock. —St. Paul A Northern Pacific, Brainerd to St. Paul, and branches, 176
$2,500,000; par, $100. In 1890 gross, $393,822; net, $70,308, miles; trackage—St. Paul Minneapolis & Manitoba, St. Paul to Minneap
against $87,089 in 1889; interest, etc., $70,585; deficit, $277.
olis, 12 miles; Minneapolis Union terminals, 3 miles; other lines.
N o rth P e n n s y lv a n ia .—Owns from Philadelphia, Pa., to Beth 3 miles. The Northern Pacific also operates the following roads and
lehem, Pa., 56 miles ; branches to Delaware River, &c., 30 miles. Th guarantees a certain rental, sufficient to pay interest and sinking funds:
From
To
Miles.
Northeast Pennsylvania and the Stony Creek roads are operated unde
contract. Leased for 990 years to Philadelphia & Reading at 8 per cent James River Valley................Jamestown, Dak. ..Oakes, Dak........... 64
Duluth & Manitoba..................Winnipeg Jc.,Minn.GrandForks,Dak.llO
un stock.
“
“
“
Dak. Div..Grand Forks, Dak..Int’lB ’ndary,Dak. 97
N o rth & South o f Illin o is .—Owns from Springfield to Litch
field, 111., 43 miles, and from Litchfield to Mount Olive, 7 miles. Spokane & Palouse................. Marshall Jc., Wash.Genesee, Idaho... 104
Helena & Red Mountain........Helena, Mont.......... Rimini, Mont....... 17
The St. Louis & Chicago defaulted on January, 1889, coupon,
( Clough J., Mont...... Marysville, Mont. 12
and foreclosure sale of main line was made October 4,1889, and of
Jefferson Jc., Mont.Calvin, Mont........ 30
the branch February 5,1890. Litigation is pending and the receiver
Pac A Montana I Missoula, Mont.......Grantsdale, Mont.
has not yet been discharged. In September, 1890, road was leased to Northern Pac. & Montana... < Drumm0nd, Mont. .Rumsey, Mont.... 50
Northern
32
the Chicago Peoria & St. Louis at $40,000 per annum, lease to last dur
Logan.......................Butte..................... 71
ing the receivership. See V. 51, p. 830. Stock—Common, $1,500,000;
l Other lines............................................... 124
preferred, $1,300,000, entitled to 5 per cent non-cumulative dividends Cceur d’Alene R. & N. Co........ Old Mission, Idaho.Mullan, Idaho___ 39
if earned. Gerald L. Hoyt, President. (V. 50, p. 72, 207 245 314 Central Washington................Cheney, Wash.........Grand Coulee....... 109
377; Y. 51, p. 425, 494, 830; Y. 52, p. 239.)
’
Other branch lines formerly under Oregon & Trans-Continental Trust
N ortheastern (S. C .)—Owns from Charleston, S. C., to Florence deed 503 miles. Grand total June 30, 1891, 4,349 miles.
.C., 102 miles; leases jointly, Lane, S. C., to Sumter, S. C., 38 miles • An important operating contract with Wisconsin Central was made in
total operated, 140 miles. Of consolidated mortgage $1,142,000 was May, 1889, giving Northern Pacific a route to Milwaukee and Chicago,
held to retire debts of prior lien. Stock, $900,000; par, $50 In year with terminals. This contract was subsequently altered to a lease to
ending June 30, 1891, gross earnings were $734,642; net, $274 048 • run 99 years from April 1, 1890. The Wisconsin Central Company
net including other income, $311,277; interest paid, $133,000; rentals’ (which seejftas a total mileage of 867 miles.
etc., $41,051; dividends (6 per cent), $54,000; surplus for vear. *83 In July, 1890, leased the Seattle Lake Shore & Eastern, under con
226. In 1889-90 gross $676,061; net, $217,332; interest paid, $133’- struction to a connection with the Canadian Pacific at the Canadian
000; dividend paid (6 per cent), $54,000.
boundary. The road has mileage about completed, including branches,
N o rth e rn (N e w H a m p sh ire ).—Owns from Concord, N. H to of 237 miles. See that company.
On August 18,1890, the Northern Pacific & Manitoba was acquired
West Lebanon, N. H., 70 miles; branch, Franklin, N. H., to Bristol
N. H., 13 miles; total, 83 miles. A lease to Boston & Lowell for 99 under contract dated July 1,1890. The road extends from Pembina,
years from January 1,1890, was ratified in December, 1889, and then No. Dak., to Portage Junction (3 miles from Winnipeg), 68 miles, and
assigned to Boston A Maine, rental being 5 per cent on stock till July l, has branches to Portage La Prairie, 52 miles, and to Brandon, 145
1897, and 6 per cent thereafter, payable’ in gold. In addition to the 5 miles; total, 265 miles.
In March, 1891, a director of this company purchased in his own name
per cent dividends provided for by the lease, an extra 1 per cent per
annum has been paid regularly from the contingent fund, which on the Oregon & Washington Territory RR., having a mileage constructed
and to be constructed of 209 miles. See V. 52, p. 391.
May 1,1891, amounted to $369,053. (See V. 53, p. 95.
Extensions from Missoula to Mullan and Wallace were completed in
Dividends since 1885—From 1886 to 1889, inclusive, 6 yearly; in
1890, 6, and 25 extra from surplus; in 1891, Jan., April and July August, 1891.
Organization .—This company was chartered by act of Congress July
each 1%. (V. 49, p. 269, 825; V. 53, p. 95.)
The road opened, 450 miles, to Bismarck,
N o rth e rn C a lifo rn ia .—Owns from Knight’s Landing to Oroville- 2,1864. and reorganized September 29,1875. In was foreclosed Aug.
12,1875,
1889 a traffic
Cal., 54 miles; completed in December, 1890. Leased to Southern Pa, tract with the Wisconsin Central, afterwards altered to a lease, gavecon
this
cific Company, which owns $1,277,500 of the $1,280,000 stock.
company a line of its own into Chicago. The Chicago A Northern
N o rth e rn C en tral.—Owns from Baltimore, Md., to Sunbury, Pa., Pacific, with its large terminals at Chicago, is subleased from the Wis
137 miles; branch—Hollins to Green Spring Junction ,9 miles; leases— consin Central and interest on its bonds guaranteed. See that com
Shamokin Valley & Pottsville Railroad, 30 miles; Elmira & Williams- pany.
S eptember , 1891.]
R A IL R O A D
STOCKS A N D
101
BONDS.
Subscribers w ill confer a great fa v o r by g iv in g im m ed ia te notice o f any error, discovered in these T a b les.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Road. Bonds Value.
Cent. Payable
on first page of tables.
Aorthern Paeiflc—(Concluded.)—
.
•■
Gen. 2d mort., g.,land grant, s. f.,dr’n atllO.c < r 2,146
&
Gen. 3d mortgage, sinking fund, not dr’n, g. .c*&r 2,146
fcr
Consol mortgage for $160,000,000, gold.......c*< 3,163
Dividend certificates, ext’d in ’88, red. after 1892
64
James Riv. Val. RR. 1st M., gold, guar., s. f. ...c*
39
Coeur d’Alene 1st mortgage, gold......................c*
49
Gen. M., $25,000 p. m., g., guar., sink. fund..c*
Spokane & Palouse 1st M., gold, guar., s. f .......c* 110
Duluth & Manitoba 1st M., gold, guar., s. f...... c* 110
Dakota extension 1st mortgage, gold, guar., s.f.
96
Helena & Red Mountain Ist M., g., guar., s. f . .c*
17
No. Pac. & Montana 1st M., g.,gu.s.f.notdr’n.c*&r 225
Cent. Wash. RR. 1st mort., g., guar., sink. fd.c*<fcr
88
Seattle Lake S. & East. 1st M., g., $25,000 p. m.c* 218
Northern Pac. Ter. Co.—1st M.,g.,dr’n aft.’92 at 110c*
Sior them Railway (< at.)—1st M., int. guar., gold.. 149
Consol. M. for$21,000,000,g.,lstM.onl97 m.c*&r 386
66
Norwich < Worcestei— Pref. stock, 8 p. c. rental—
6
66
1st M., principal and int. guar, by N. Y. & N. E.c*
Ogdensburg< Lake Chanvp.—Consol. M.(now 1st M.) 118
&
Income bonds, not cumulative................................
Guaranteed debenture bonds................................ r
f' OgdensbTransitCo.lst M.(Cent.Vt.& Ogdens.,gu.) ....
10
Saratoga & St. Law. 1st M., for $200,000, guar, .r
Ohio <t Mississippi—Stock ($4.030,000 is pref)........ 628
1st consolidated mort. ($3,445,000 are sink.fd.)c* 393
$
$
l,000<fcc 19,626,000
l.OOO&c 11,299,000
l.OOO&c 42,587,000
500 &c.
645,500
1,000
963,000
500
360,000
1,000
878,000
1,000
1,766,000
1,000
1,650,000
1,000
1,451,000
1,000
400,000
l.OOO&c 5,381,000
l.OOO&c 1,750,000
1,000
5,450,000
1,000
3,000,000
1,000
5,156,000
1,000
4.751,000
100
2,620,300
1,000
400,000
1877
3,500,000
1880 500 &c.
999,750
1880 100 &c.
350,000
1888
759,500
100,000
1889
Too 24,092,629
1,000
6,501,000
1868
1883
1887
1890
1888
1886
1886
1888
1886
1886
1887
1887
1888
1888
1886
1883
1877
1888
Stocks and B onds.—The preferred stock has a preference for 8 per
cent in each year if earned, hut is not cumulative. The common stock
then takes 8 per cent, and after that both share alike. The preferred
stock’s claim on net income is subject to expenditures for new equip
ment. Preferred stock is received in payment for company’s lands east
of Missouri River at par, and the proceeds of the land sold go to its re
tirement. The preferred stock has thus been reduced from $51,000,000
to the present figure. The back surplus due the preferred stock by way
of dividends (i. e., for dividends earned but not distributed, unearned
dividends not being cumulative) amounted on June 30, 1890, to $2,844,429, invested in consolidated bonds of the par value of
$3,347,000.
_
.
Dividends on preferred stock—In 1883, I l f io ; from 1884 to 1889 in
clusive, nil; in 1890,4 per cent ; in 1891, January, 1 ; April, 1; July,
6
6
5
6
6
6
6
6
6
6
6
6
6
6
6
6
5
4
6
6
6
4
6
5
"7*
g. A. & O.
g. J. & D.
g- J. & D.
J. & J.
g- J. & J.
g. M. & S.
g. A. & O.
g. M. & N.
g. . J. & J.
g. J. & D.
g. M. & S.
g- M. & S.
g. M. & S.
g. F. & A.
g. J. & J.
g- J. & J.
g. A. & O.
J. & J.
M. & S.
A. & O.
A. & O.
J. & J.
F. & A.
J & D.
k
N. Y., Mills’ Building.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
«
do
do
N. Y., Union Trust Co.
N. Ÿ., Winslow, L. & Co.
N.Y., So.Pac.Co.,23Br’d
do
do
Boston, Second Nat. Bk.
Boston, N. E. Trust Co.
Boston, Office.
St. Albans, Vt.
(»)
Ogdensburg, N. Y.
Dec. 1, 1933
Dec. 1, 1937
Dec. 1, 1989
Jan. 1, 1907
Jan. 1, 1936
Sept. 1, 1916
Oct. 1, 1938
May 1, 1936
July 1, 1936
June 1, 1937
Mch. 1, 1937
Sept. 1, 1938
Sept. 1, 1938
Aug. 1, 1931
Jan. 1, 1933
Jan. 1, 1907
Oct. 1, 1938
July 6, 1891
Mch. 1, 1897
Apr. 1, 1920
April, 1920
April, 1920
Aug. 1, 1909
June 1, 1919
J. & J. N. Y., Union Trust Co. Jan. 1, 1898
year. Report for 1889-90 was in V. 51, p. 534, 593. See also articles
in V. 51, p. 262, 515.
EARNINGS AND EXPENSES.
Mileage, June3 0 ....
Earnings—
Passenger ...............
Freight.....................
Mail, express, &c___
1887-88.
3,337
$
4,577,898
10,426,244
842,186
1888-89.
1889-90.
1890-91.
3,465
3,778
........
$
$
$
5,824,163
6,167,702 6,680,492
12,877,838 15,600,320 17,531,222
1,005,467
842,481
939,830
Total.................. 15,846,328 19,707,468 22,610,503 25,151,544
Operating expenses. 9,266,884 12,185,944 13,463,746 15,400,996
6,579,444 7,521,524 9,146,757 9,750,548
Net earnings............
58*48
61*83
59*54
61*23
■ Price of common stock—In 1880, 20®36 ; in 1881, 32%®51 ; in 1882, Per ct. exp. to cam’s
28%®543r; in 1883, 23%®531 ; in 1884,14®27 ; in 1885, 15®311
s
4:
INCOME ACCOUNT.
in 1886, 22®3138; in 1887, 20®34% ; in 1888, 197
s®29%; in 1889,
1887-88.
1888-89.
1889-90.
1890-91.
25®3638; in 1890,16%®39%; in 1891, to September 18 inclusive, 20%
Receipts—
$
$
$
$
Net earnings............
6,579,444 7,521,524 9,146,757
9,750,548
Price of preferred stock—In 1880, 3938®671 ; in 1881, 64%®88% >
2
ETominvestm’ts, &c.
548,537
532,325
1,341,172
1,593,135
in 1882,66%®10038 ; in 1883,49%®90% ; in 1884, 37%®57% ; in 1885,
36%®6538; in 1886, 53%®66% ; in 1887, 4138®63% ; in 1888,42%®
Total..................
7,127,981
8,053,849 10,487,929 11,343,683
64; in 1889, 58%®787s; in 1890, 55®86; in 1891, to September 18,
inclusive, 58%®75%.
_
.
IntoesioTbonds...
4,703,955
4,917,833 5,115,752 6,247,074
Besides the outstanding debt June 30,1891, $3,198,000 bonds were
Rentals.....................
782,359
1,159,263
1,424,021 1,362,114
held by the trustee of the sinking fund.
881,072
1,060,738
1,333,008 1,014,698
The numbers of bonds recently called for payment will be found in Guarantees...............
Sinking funds..........
224,095
343,309
301,918
73,600
Chronicle . See V. 52, p. 80, 321, 391,795 ; V. 53, p. 368.
............
............
144,630
387,365
Def. on Wis. Central.
The general first mortgage bonds are a first lien on the main line and on
............
............
1,112,732 1,472,466
the lands, except as to that part subject to the two divisional mortgages Dividends (3 p. c.)...
17,813
91,228
108,708
348,078
and the land east of the Missouri River, which is subject to the preferred Miscellaneous..........
stock. Central Trust Co., of New York, is trustee. Sinking fund of 1
Total..................
6,609,294 7,572,371
9,540,770 10,905,395
per cent per annum of the total amount of bonds issued (the proceeds
518,687
481,478
947,159
438,288
of land sales being included as part of the one per cent) began in 1886, Balance, surplus....
and the bonds may be drawn at 110. In 1889 a similar sinking fund —(Y. 50. p. 37,139,187,275, 279, 314, 590,622, 644,735; V. 51, p. 21,
began for the 2d mortgage bonds.
84 114.142, 239, 241, 262, 494, 515, 534,538, 53 9, 680, 721; V. 52,
The 3d mortgage (see abstract, V. 47, o. 21) has an accumulating p 80.219, 280, 321 391, 571, 643, 698, 795; V. 53, p. 28 8 , 368.)
sinking fund to begin in 1894 equal to 1 per cent of entire issue yearly
for purchase of bonds at 105 per cent, or for their redemption at
N orthern Pacific T e rm in a l C om p an y.—Owns terminal facili
maturity, but no bonds can be drawn. See abstract of Duluth & Mani ties on the Willamette River, Oregon, at Portland, East Portland and
toba Extension mortgage in V. 45, p. 273.
Albina, comprising lands 270 acres, trackage 24 miles, buildings 39,
The Northern Pacific & Montana and the Cœur d’Alene Railway & dock frontage 7,904 feet. They are leased for fifty years from January
Navigation Co. bonds are issued at $25,000 a mile; the James River 1,1883, jointly and severally to the Northern Pacific Railroad, the Ore
Valley and the Duluth & Manitoba at $15,000 a mile ; the Spokane & gon Railway & Navigation Company and the Oregon & California Rail
Palouse at $16,000 a mile ; the Helena & Red Mountain, a round sum ; road, with a guaranteed rental sufficient to pay interest, sinking fund
all the rest at $20,000 a mile.
and taxes. The sinking fund begins in 1893, and is to be sufficient to
All the issues of leased line bonds given in the table, except the Cœur retire the bonds by maturity, bonds being drawn at 110 and interest.
d’Alene 1st 6s of 1886, the Northern Pacific & Montana bonds and the The stock of $3,000,000 is owned by said three companies (40 per cent
Seattle Lake Shore & Eastern 6s may be drawn and redeemed at 105 by Oregon Railway & Navigation Company, 40 per cent by Northern
(certain amounts per year), under sinking fund provisions, which in Pacific and 20 per cent by Oregon & Califomia Railroad), and held by
most cases commence ten years after the date of issue of the respective Central Trust Company of New York, to be delivered after payments to
bonds.
the sinking fund, which is to cancel the bonds
This company guarantees the bonds of the Seattle Lake Shore & East
N ortnern K a ilw a y Co. (C a lifo rn ia ).—This was a consolida
ern by endorsement; see that company.
The consolidated mortgage for $160,000,000 was issued according to tion in May, 1888. Owns 390 miles of railroad, leased for 99 years from
plan in Chronicle, Y. 49, p. 373. It covers, subject to prior liens, the July 1,1888, to the Southern Pacific Company, the lessee paying fixed
main line and branch, 2,134 miles, a one-half undivided interest in 24 charges and betterments. The statement dated Feb. 28, 1890, to the
miles more, and all the land grant except that east of the Missouri N. Y. Stock Exchange was in V. 50, p. 393.
The capital stock authorized is $21,000,000; issued $12,896,000, all but
River, which is subject to the preferred stock. In addition to this the
bonds at present outstanding are a first lien on 1,017 miles of $199,300 being owned by Southern Pacific Co. The consolidated 5s of
branches. About $7,000,000 consols have been issued for new terminals 1888, issued under mortgage for $21,000,000, are a first lien on 197
and equipment and about 270 miles of branches, for which additional miles, and have a sin k in g fund after 1897, but bonds cannot be called.
consols will be issued and on which the mortgage will have a nrst lien, In 1890 gross earnings were $2,685,103; net, $1,079,672; surplus over
are under construction.
(See full abstract of mortgage—trustee, charges, due Northern Railway Company, $485,629, against $424,318
Farmers’ Loan & Trust Co.—in V. 50, p. 279.)
in 1889. (V. 50, p. 377, 391, 393.)
N orw ich & W o rcester.—Owns from Norwich, Conn., to Worces
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 ter, Mass., 59 miles ; branch, Norwich to Allyn’s Point, 7 miles ; total,
construction to June 30,1890, were estimated to be about 40,824,960 66 miles. Leased to New York & New England RR. for 100 years from
February 1,1869; rental is 8 per cent on preferred stock. Common
acres, of which about 39,441,687 remained unsold.
The lands east of Bismarck (Minn, and Dak. Divs.) are pledged to the stock is $6,600. Notes payable Sept., 1891, $290,000. In 1886-87,
preferred stock, and that stock is received in payment therefor.
gross receipts, $781,979 ; net, $293,108 ; payments for rentals, $40,220;
For the fiscal year 1890-91 total land sales were 366,152 acres for interest, $27,165 ; surplus over 8 per cent dividends, $17,900.
$1,450,457. Total sales, including town lots, &c., were $1,543,609;
O gdensburg & L a k e C h am p lain .—Owns from Rouse’s Point,
total cash receipts for year, $1,389*517.
Total amount of deferred payments (botes) against land sales on July N Y., to Ogdensburg, N. Y., 118 miles; leases for 99 years Saratoga &
St. Lawrence RR., 9 miles. On June 1,1886, a perpetual lease of this
1,1891, was $5,669,890, of which $444,234 was applicable to the re
tirement of preferred stock, $2,447,367 to Missouri Division and road was made to the Central Vermont RR. Co., the lessee to pay inter
to Pend d’Oreule Division bonds and $2,778,289 to the first mortgage est on the bonds. The Ogdensburg Transit bonds are guaranteed by
this company and the Central Vermont. Stock $3,077,000 (par, $100),
bonds.
of which $1,612.500 is owned by Central Vermont.
E arnings.—From July 1, 1891, to July 31, 1891 (1 month), gross
In year ending June 30,1891, gross earnings were $800,180; net,
earnings on 4,335 miles were $1,960,476, against $2,015,316 on 4,158 $213,681; deficit after interest, rental and taxes, $42,829. In 1889-90
miles in.1890; net, $779,515, against $806,297. For same period, net, gross earnings, $771,954; net, $224,105; deficit after charges, $12,133.
including Wisconsin Central, was 962,806, against $977,749; miscel (V 50/p. 27& 707; V. 51, p. 240, 788; V. 52, p. 322,762; V. 53, p. 256.)
laneous income in 1891, $110,319; total net (including Wisconsin Cen
Ohio & M ississip p i.—Owns from Cincinnati, O., to East St. Louis,
tral), $1,073,126; all fixed charges, $1,050,724; surplus, $22,402.
1
Fiscal year ends June 30. Advance statement for 1890-91 was in 1 1 339 miles; Louisville branch, North Vernon to Jeffersonville, Ind.,
V. 53, p. 288. The Wisconsin Central does not figure in the gross and 53 ’miles; the Springfield Division, Beardstown to Shawneetown, 111.,
net earnings below, but the net loss from operating its lines in 1890-91, 228 miles; New Albany & Eastern,Watson to New Albany, Ind., 7 miles;
after payment of the rental, appears among the disbursements for the total 628 miles. Organized November 21,1867, after foreclosure sale.
102
IN V E S T O R S ’
SUPPLEM ENT.
[V o l.
LIU.
R A IL R O A D
S e p t e m b e r , 1891.]
STOCKS
AND
103
BONDS.
Subscribers w i l l con fer a great fa v o r b y g iv in g im m ediate notice o f an y e r ro r d iscovered in these T ab les«
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stoiks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
Ohio < Mississippi—( Continued.)—
6
1st consolidated mort., sterling, s. f. not dr’n .. .e*
2d cons. mort. (cum. sink, fund), no drawing, .c*
Spring. Div. (Sp. & 111. 8. E.) 1st M.($3,000,000)c*
1st general mortgage (for $16,000,000)............. c*
Equip. Tr.,3 series, 10 per ct. dm. yearly at 100.c*
Cin. & Bedford 1st mortgage, gold........ ...............
Ohio River—1st mortgage, gold, $12,000 per mile.c*
Gen. M. gold (for $3,000,000) 1st on 39 miles..c*
Ravenswood Spencer & Glen.lstM., gold,guar.c*
Ohio Southern—1st mort. ($15,000 p. m.) gold... .)c*
General mortgage, gold (for $2,800,000).......... -J *
p
Ohio Talley,Ky.—Gen. consol. M. ($20,000 p. m.).c*
Old Colony—Stock authorized, $15,000,000.......... c*
Bonds (not mortgage)........................... . i . . . . . . c&r
Bonds
do
($2,000,000 F.&A.,Aug.’97)c&r
Bonds
do
...................................................r
Bonds for Framingham & Lowell bonds...............c
Bonds not mort. ($750,000 ’84, due July, 1904).r
New Bedford RR. 1st mortgage......................... --C
Boston Clin. F. &N. B. mortgage bonds....... ...... c
Omaha & St. Louis—1st mortgage, gold............... .c*
2d mortgage ($4,000 per mile) gold— ..............c
Funded interest certificates, redeemable at 100..
Orange Belt—1st M.,g.,$5,000p.m.red.aft.l891.c*&r
Orange-Keysville—1st mort., $15,000 perm. gold..
Oregon < Cal.—lstM.,g.($30,000p.m.)dr’natl00.c*
&
Oregon Pacific—1st M., 1 g., s. f.,g.,$25,000 p.m.c*&r
.
393
393
222
"6
169
208
33
132
10*8
*58
125
145
145
153
5*55
1868
1871
1874
1883
’87-’91
1889
1886
1887
1890
1881
1889
1888
1874
’75-6-7
1882
1884
’84-’88
1874
1880
1887
1890
1891
1887
1889
1887
1880
£200
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
The terms of preference in preferred stock certificates read:
“ The preferred stock is to be and remain a first claim upon the prop
erty of the corporation, after its indebtedness, and the holder thereof
shall be 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 fun for each and every year before any payment of dividend upon
the common stock; and whenever the net earnings ”
*
*
*
“ shall be more than sufficient to pay both said interest of 7 per cent on
the preferred stock in full, and 7 per cent dividend upon the common
stock for the year in which said net earnings are so applied,” then the
excess shall be divided equally, &c.
In Nov., 1890, the English shareholders appointed a committee to call
in the common and preferred shares and to issue certificates therefor to
the holders and to protect generally their interests. Brown, Shipley &
Co.’s certificates have accordingly been issued for common and pre
ferred stock. See Y. 51, p. 681, 715; Y. 53, p. 126.
Of the general mortgage of 1883 $12,142,000 is reserved to exchange
for old bonds as they mature. Cyrus C. Hines, of Indiana, and Union
Trust Company, of New York, are mortgage trustees.
Prom July 1, 1891, to July 31,1891 (1 month) , gross earnings were
$356,388, against $320,410 in 1890 ; net, $76,594, against $92,416.
Fiscal year ends June 30. Advance statement for 1890-91 in V. 53,
p. 406.
INCOME ACCOUNT.
1887-88.
Gross earnings....... 3,977,559
Net earnings........... 1,244,142
Disbursements—
Interest on debt.... 1,042,530
Sinking fund............
61,000
Miscellaneous........
29,931
1888-89.
1889-90.
1890-91.
3,955,165
1,019,804
4,214,747
1,302,274
4,108,974
1,172,412
1,047,671
1,054,245
65,000 .*
•
69,000
80,377
96,600
1,066,892
l 70,162
Total.................. 1,133,461
1,193,048 1,219,845
1,137,054
Balance................. sur.110,681 def.173,244 sur.82,429
35,358
—(V. 51, p.303, 456, 536, 681, 715, 786; V. 52, p.832; V. 53, p. 126
187, 289, 324, 4 0 6 .)
O b lò R iv e r.—Line op Road.—Wheeling, W. Va., via Parkersburg,
to Huntingdon, W. Va., 215 miles, of which 208 miles are owned.
The other 7 miles (Benwood to Wheeling and Guyandotte to Huntington) being operated under trackage agreement.
The Ravenswood Spencer & Glenville is building a line in the interest of
this company from Ravenswood, W. Va., to a connection with the West
Virginia & Pittsburg Railway at Glenville, and its 1st mortgage bonds for
$400,000 are guaranteed principal and interest. The stock authorized is
$6,000,000—outstanding $5,915,400; par, $100; car trusts, $143,896.
From January 1 to July 31, 1891 (7 months), gross earnings were
$366,162, against $358,282 in 1890 ; net, $129,628, against $155,878.
In 1890 gross earnings, $680,972; net, $315,013 ; interest, $221,400;
taxes, etc;, $38,520; surplus, $55,093. In 1889 gross, $589,770 ; net,
$289,471 ; surplus over interest and taxes, $51,476. George W. Thomp
son, President, Parkersburg, W. Va. (V. 50, p. 76 9; V. 51, p. 416, 680 ;
V. 52, p. 831 ; V. 53, p. 408.)
O b lò Southern.—Own Springfield, O., to Wellston, 118 miles, and
branches, 22 miles. Stock authorized, $5,500,000 ; outstanding, $3,840,000—par $100. General mortgage of 1889 is to the Central Trust
Company) as trustee. From Jan. 1 to Aug. 3L, 1891 (8 months), gross
earnings on 140 miles were $365,733, against $339,856 in 1890. In
1890 gross earnings were $554,390 ; net, $261,881 ; interest, $226,800 ;
surplus, $35,081. Gross earnings in 1889, $525,657 ; net, $217,821 ;
interest $142,800; surplus, $75,021. Alfred Sully, President, 80 Broad
way, New York City. (V. 50, p. 72 ; V. 52, p. 832.)
O hio V alley .—Completed from Evansville, Ky., to Princeton on the
Chesapeake Ohio & Southwestern, 99 miles; branches, 9 miles; total, 108
miles. In 1891 this company’s stock was purchased by the Chesapeake
Ohio & Southwestern, which guarantees the bonds by endorsement.
See wording of guaranty in application to N. Y. Stock Exchange, V. 52,
p. 974. It is expected that the Ohio Valley will be pushed further south
at once. Of the old fives due in 1926 only $100,000 are outstanding.
The stock is $2,163,000 ; par, $100.
From June 1 to June 30, 1891 (1 month), gross earnings were $24,203, against $18,868 in 1890 ; net, $9,003, against $5,848.
In year 1889-90 gross earnings were $210,140 ; net, $65,455 (against
$47,946 in 1888-89) ; interest on bonds, car trusts, etc., $12,792 ; rentals,
etc., $18,725 ; balance, $33,938. (V. 51, p. 60 7; V. 52, p. 321, 718,974.)
O ld C olony (M a ss .)—Owns from Boston to Provincetown, Mass.,
120 miles; lines to Kingston, Plymouth, Somerset Junction, New Bed
ford, Lowell and Fitchburg, Mass., and to Newport, R. I., 249 miles, and
numerous branches 113 miles in all ; total owned, 482 miles ; leases—Bos
ton & Providence Railroad, Boston to Providence,44 miles, and branches
20 miles; other lines, 30 miles;, total owned and leased, 576 miles.
In 1888 a lease of Boston & Providence Road was made for 99 years.
An increase of stock from $12,000,000 to $15,000,000 was authorized by
stockholders in November, 1889, to pay for new connections, etc, Bills
payable July 1,1891, $1,562,561. A terminal company in which thè
Old Colony has a one-half interest will issue bonds for about $3,000,000. See under N. Y. Providence & Boston.
Dividends since 1876—In 1877 and 1878, 6 per cent; in 1879, nil; in1880 and 1881, 6 ; in 1882, 6 *2 ; from 1883 to July, 1891, both in
*
$112,000
3.334.000
2.009.000
3.886.000
544.000
135.000
2,000,000
2.428.000
300.000
2.100.000
2.482.000
2,029,267
12,567,100
1.692.000
3.600.000
200.000
498.000
3.650.000
400.000
1.912.000
2.717.000
580.000
271,700
700.000
30,000
16,654,000
10,000,000
Jan. 1, 1898
London.
6 g. J. & J.
A. & O. N Y., Union Trust Co. Apr. 1, 1911
7
Nov. 1, 1905
do
do
7 - M. & N.
June 1, 1932
do
do
J. & D.
5
Varions N.Y.BaringMagoun&Co 10 p. c. yearly.
6.
Nov. 1, 1919
do
do
5 g- M. & N.
5 S- J. & D. N. Y., Central Trust Co. June 1, 1936
Apr. 1, 1937
do
do
5 g- A. & O.
Aug. 1, 1920
do
do
6 g. F. & A.
J. & D. N. Y., Corbin Bank’g Co. June 1, 1921
f= g- M. & N.
May 1, 1921
do
do
4 g.
5 g. J. & J. N.Y., Central Trust Co. July 1, 1938
July 1, 1891
Boston, Office,
3^2 See rem.
Moh. 1. 1894
do
M. & S.
7
do
1895-’96-’97
Various
6
Dec. 1, 1897
do
4*2 J. & D.
Apr. 1, 1904
do
4*2 A. & O.
1904 & 1938
do
J. & J.
4
July 1, 1894
do
J. & J.
7
J. & J. Boston, N. E. Trust Co. Jan. 1, 1910
5
4 g. J. & J. Int. funded till Jan.,’93 Jan. 1, 1937
May 1, 1940
New York,
5 g. J. & D.
Jan. 1, 1937
do
J. & J.
5
Jan. 1, 1907
J. & J.
5 g.
Nov. 1, 1919
M. & N.
6
5 g. J. & J. N. Y., South. Pacific Co. July 1, 1927
6 g.. A. & O. Apr., ’90, coup, last pd. Oct. 1, 1900
clusive, at the rate of 7 per cent yearly. In September, 1891, it was
announced that thereafter dividends would be paid quarterly on the
first days of December, March, June and September.
Year now ends June 30. Report for 1890-91 was in V. 53, p. 323. In.
the following the figures for 1889-90 and 1890-91 are for the year end
ing June 30—all others for years ending September 30.
INCOME ACCOUNT.
1888-89.
$
7,726,312
1,995,036
132,766
1889-90.
1890-91.
$
$
8,020,295 8,376,452
2,059,855 1,906,177
135,723 239,054
Total income..........
1,779,051 2,127,802
Disbursements—
$
$
Rentals paid....................
265,559
560,995
Interest................
636,368
672,133
Dividends (7 per cent). . . .
802,763
830,655
Improvement account___
74,361
64,019
2,195,578 2,145,231
$
$
584,605 563,373
658,675 696,213
844,683 872,690
107,615
12,955
jR eceip ts —
Gross earnings................
Net earnings........ ..........
Other receipts..... ............
1887-88.
$
6,322,628
1,684,961
94,090
Total disbursements ... 1,779,051 2,127,802 2,195,578 2,145,231
—(V. 50, p. 207, 622; V. 51, p. 172, 344, 3 8 2 , 458, 646, 681 ; V . 52, p ,
239, 718 ; V. 53, p. 187, 288, 3 2 3 .)
O m a b a & S t. L o u is .—Owns road from Council Bluffs, la., to Pattonsburg, Mo., 144 miles. This company was formed in 1887 as suo-,
cessor to the Omaha Division of the St. Louis Kansas City & Northern'
(Wabash), sold in foreclosure. Preferred 6 per cent stock, non-cumular
tive, $2,220,500; common stock, $2,313,000 deposited in trust till June
1,1893; par, both, $100. Five coupons, including the coupon due Jan
uary 1,1891, were funded into 5 per cent bonds, due 1937, but redeem
able at option of company, the new bonds being secured by the cou
pons deposited in trust. (See V. 52, p. 81, 391.) See abstract of first
mortgage, V. 45, p. 213; full statement in V. 44, p. 812.
From July 1,1890, to May 31,1891 (11 months), gross earnings were
$478,209, against $564,317 in 1889-90. In fiscal year 1889-90 gross
were $615,775; net, $129,686; interest on first mortgage, $108,680.
—(V. 50, p. 275, 452, 622, 875 ; V. 51, p. 7 8 6 ; V. 52, p. 81, 391.)
Orange B e lt.—From Sanford, *Fla., to St. Petersburg, 153 miles.
The bonds are 5-20s, and may be redeemed after January, 1892.
They are guaranteed by the Orange Belt Investment Company. The
January, 1889, coupon was purchased by H. O. Armour & Co., New
York. Company reorganized April, 1889. E. T. Stotesbury, Philadel
phia, President. (V. 46, p. 245.)
O ra n g e —K e y s v ille . —Was under construction from Gordonsville
(Junction Chesapeake & Ohio and Richmond & Danville) in Orange
County, Va., to Keysville, Va., on the Richmond & Danville, about 95
miles. Road is in the hands of the court and a motion for a receiver
was refused in June, 1891. It is expected that in October, 1891, a sale
of the road will be ordered, and construction soon thereafter resumed.
The suit, it is said, has been a fight for control. Trustee of mortgage is
Farmers’ Loan & Trust Company of New York. Stock authorized: com
mon $1,000,000 ; preferred $700,000; guaranteed preferred, $300,000.
O r e g o n & C a lifo r n ia .—From Portland, Ore., to California State
line, 365 miles ; Albany Junction to Lebanon, 12 miles; West Side Divi
sion, Portland to Corvallis, 97 miles; Woodburn to Coburg, Ore., 80 miles.
Total, 555 miles. Of the old sixes due July 1,1921, $82,000 are yet
out. The land grant was about 4,000,000 acres, part of which is covered
by the mortgage, proceeds of land sales going to redeem bonds drawn
at par, unless purchasable lower. Trustee of mortgage, Union Trust
Company, New York. In 1890 net land sales subject to mortgage were
20,495 acres for $101,078 ; cash receipts, $33,711. In September, 1891,
it was reported that the company would acquire the Portland & Willa
mette Valley and Oregonian roads and would build extensions.
Reorganized in 1887 per plan in Chbonicle , V. 44, p. 118, 370. The
road is leased to the Southern Pacific Company for 40 years from Janu
ary 1,1887, the lessee guaranteeing interest on the bonds, and the lessor
receiving any net profit and being charged with any deficit after pay
ment of charges and betterments. The Pacific Improvement Company
owns the bulk of its $19,000,000 stock, $12,000,000 of which is 7 per
cent preferred. In 1890 gross earnings on 474 miles were $1,927,339 ;
net, $496,830 (against $806,804 in 1889); total net income, including
interest received, $595,760 ; fixed charges, $855,190 ; deficit for year.
$259,439, against surplus of $142,187 in 1889, the loss in 1890 being
due to exceptional causes, storms, etc.—(V. 48, p. 828 ; V. 51, p. 910.)
Oregon Pacific.—Projected from Yaquina, on Yaquina Bay, Ore.,
tq eastern boundary of the State, about 600 miles, of which 136 miles, to
near summit of Cascade Mountains, are completed and in operation ; 30
miles more are finished, and 40 miles are ready for the rails. Over 950,000 acres of land subject to prior lien of $ (1) are covered by the mort
gage. The Farmers’ Loan & Trust Company of New York is trustee un
der the mortgage. See abstract of same in V. 49, p. 240. Stock is $30,000 per mile. Default was made on coupons due October 1,1890, and
Mr. T. E. Hogg, the President, was appointed receiver. See V. 51, p.
609. Receiver’s certificates for $550,000 have been authorized. A pre
liminary agreement has been prepared by bondholders opposed to the
present management. Copies may be seen at the office of Messrs. Blair
& Co,, 33 Wall Street. See V. 53, p. 59. In addition to about $10,000,600 bonds that were sold some $5,000,000 have been pledged to
secure a debt of about $3,000,000. Office, 45 William Street, New
York. (Vr48, p. 452, 662 : V. 51, p. 458, 609 ; V. 53, p. 59.)
tME
K!
104
IN V E S T O R S ’
SUPPLEM ENT.
[ Y o l . L ili,
Su bscribers w i l l con fer a great favor v
by g iv in g im m ediate notice o f an y e r ro r d iscovered in these T ab les.
Bends—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When Due.
Par
Stocks—Last
For explanation of column headings, &c., see notes of
of
Whom.
Dividend.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Oregon Railway & Navigation—Stock........................
1st mort. bonds, gold, sink. fd. (drawn at 100). .c
Consol, mortgage, gold, $25,000 per mile........ c&r
Collateral trust, gold, redeemable at 105.......... c*
Oregon Short Line <•U. Nor.—Or. Short. L. 1st M.,g. 61Ó
£
Utah So. mort., S. Lake to Juab (for $1,950,000) .c 105
Utah South. Extension., 1st M., Juab to Frisco.c 138
Utah & Northern 1st mort., $12,000 per mile, .c* 462
Consol. M.,guar., $15,000 p. m.,s. f.not dr’n.g.c* 466
Equipment bonds ($36,000 payable yearly)......
19
Idalio Central 1st mort. Nampa to Boise City ..c*
Consol. M. (1st on 201 miles) gold, red. at 105..c* 1,421
Collateral trust, gold (redeemable at 105) guar.c*
Oregon < Washington Ter.—1st mortgage................
&
56
28
Oswego < Rome—1st mortgage, guar..........................
&
2a mortgage, gold, guaranteed by R. W. &O...C*
28
Oswego < Syracuse—Stock, 9 p. c. guar., D. L. & W.
&
35
..
Consol, mortgage (guar. D. L. & W.).....................
Construction M., guar. prin. &int.(for$l ,000,000)
35
88
Owensboro < Nashville—1st mortgage, gold..........c*
£
Pacific Short Dine—Nebraska West. 1st mortgage. 130
Paducah Tenn. < Ala.—1stM., $20,000perm., g.c*
6
48
Panama—Stock...........................................................
General mortgage, sterling....................................c
48
Sinking fund subsidy mort.,gold, drawn at 100.c*
48
Paterson < Hud.—8tk.,8 p.c.perp.rent.N.Y.L.E.&W.
£
15
Pecos Valley—1st mort., gold, $12,000 per mile., c*
90
Pennsylvania—Stock....................................................
Gen mort., $ & £ ................ ...................................... 455
Consol. M. for $100,000,000, s. fund, not drawn.. Í455
do
do (same lien as consol.-6s) gold...............
Bonds (P. W. & B. stock as collat.) s. f., not dr’n.r 571
$100
1,000
1879
1,000
1885
1,000
1889
1,000
1882
1,000
1879
1,000
1879
1,000
1878
1,000
1886
1,000
1887
1,000
1887
1,000
1889
1889 500 &c.
1865
1891
1876
1883
1881
1889
1890
1867
1880
1890
1867
<1873
)
(1879
1881
1,000
1,000
50
1,000
1,000
1,000
1,000
1,000
100
£200
$1,000
50
1,000
50
1,000
1,000
1,000
1,000
$24,000,000
IV
Q .-J . Boston,Office,Equit.Bld
5,129,000
6 g. J. & J. N.Y.,Un.Tr.Co.&Bost’n
11,871,000
do
do
5 g. J. & D.
do
do
3,550,000
5 g- M. & S.
14,931,000
6 g. F. & A. N.Y., Un.Tr.Co.&Bost’n
1,526,000
7
J. & J.
do
do
1,950,000
7
J. & J.
do
do
4,995,000
7
J. & J.
do
do
1,865,000
do
do
5 g. J. & J.
213,000
5
A. & O.
do
do
140,000
6
J. & J.
do
do
11,232,000
do
do
5 g. A. & O.
13,000,000
do
do
5 g- M. & S
1,142,000
J. & J. N. Y., Farm. L. & Tr. Co.
350,000
M. & N N. Y., Gr. Cent. Depot.
7
400,000
do
do
5 g. F. & A.
1,320,400
4V F. & A N. Y., Del. L. & W. RR.
438,000
7
M. & S
do
do
668,000
M. & N N. Y., Farm. L. & Tr. Co.
5
2,000,000
New York.
6 g. M. & N'
2,600,000
J. & JIn default.
5
1,320,000
5 g. J. & J' N. Y., Central Trust Co.
Var. •N. Y., Of., 15 Broad St.
7,000,000
2
2,989,000
7 g. A. & O. N. Y ., 15 Br’d St. &Lond.
2,404,000
6 g. M. & N. N. Y., Of., 15 Broad St.
New York.
J. & J.
630,000
4
1,080,000
5 g- A. & O. N.Y., Mercantile Tr. Co.
123,082,050 3 see rem M. & N. Philadelphia, Office.
Various Phila. Office & London.
19,997,820
6
Various Phila. Office & London.
27,480,020
6
4,998,000
5 g- Various Philadelphia, Office.
J. & J. Phila.,Pa. Co.for Ins.&c.
7,915,000
4
Oct. 1, 1891
July 1, 1909
June 1, 1925
Sept. 1, 1919
Feb. 1, 1922
July 1, 1909
July 1, 1909
July 1, 1908
July 1, 1926
Apr.l, yearly.
Jan. 1, 1917
Apr. 1, 1919
Sept. 1, 1919
May 1, 1915
May 1, 1915
Aug., 1891
1907
May, 1923
Nov. 1, 1931
July 1, 1929
July 1, 1920
Mch. 27,1891
Oct. 1, 1897
Nov. 1, 1910
July 2, 1891
Oct. 1, 1920
May 29, 1891
July 1, 1910
June 15,1905
Dec. 1, 1919
July 1, 1921
O regon Sc W a s h in g to n T e rrito ry .—Operates from Pendleton,
O regon R a i lw a y Sc N a v iga tio n .—Main Line—East Portland,
Ore., to Huntington, Ore., 403 miles; branches 628 miles; total oper- |Oregon, to Dayton, Washington, 127 miles, and branches, 40 miles.
In March, 1891, Mr. C. B. Wright, of Philadelphia, a director of the
ated July 1,1891,1,029 miles, of which 431 miles owned and 598 miles
Northern Pacific Railroad, purchased all its stock and bonds. See Y.
leased. Ocean line between San Francisco and Portland, 670 miles.
Leased for 99 years from January 1,1887, to the Oregon Short Line & 52, p. 391. President, G. W. Hunt, Walla Walla, Washington.
Utah Northern RR., rental being 6 per cent per annum on stock and in
O sw ego Sc R o m e .—Owns from Richland, N. Y., to Oswego, N. Y.,
terest on its bonds. This lease (see abstract V. 45, p. 539) is guaranteed
by the Union Pacific. In 1889 the Oregon Short Line Co. purchased a 29 miles. Leased in perpetuity to the Rome Watertown & Ogaensburg
Railroad, and operated by the New York Central; annual rental is inter
majority of the stock.
Dividends since 1876—In 1879, 2 per cent; in 1880, 8 and 10 scrip; est on the first and second mortgage bonds, both of which are endorsed
in 1881 and 1882, 8 ; in 1883, 10 ; in 1884, 6 *2 ; in 1885,4V ; in 1886, with the guaranty of the Rome Watertown & Ogdensburg. Stock is
7 ; in 1887 and 1888, 6 ; in 1889, 7 (1 per cent being extra out of assets); common, $225,000; preferred, $75,000; par, $100.
O sw ego Sc Syracuse.—Owns from Oswego, N. Y., to Syracuse, N.
in 1890, 6 ; in 1891, January, IV ; April, I V ; July, IV, October, I V
The first morgage has a sinking fund of $60,000 per year, plus Y., 35 miles. Leased in 1868 during length of charter and renewal
interest on bonds canceled (making $96,880 in all in year 1888-89), to thereof to the Delaware Lackawanna & Western Railroad Company for
buy bonds at or below 110, or else draw them at par on January 1, 9 per cent per year on $1,320,400 stock and interest on bonds.
bonds so paid being canceled. The Farmers’ Loan & Trust Co. is trustee
O w en sb o ro Sc N ash v ille .—Owns from Owensboro, Ky., to Adairof the 1 st and the consolidated mortgages.
ville, Ky., 84 miles; Mud River Branch, 4 miles. Operated by Louis
The collateral trust issued in 1890 (trustee American Loan & Trust ville & Nashville Railroad, which owns $1,014,000 of the $1,156,518
Company of Boston) provides for the issue of $25,000,000 bonds. The stock (par, $100) and $1,200,000 of the first mortgage bonds—all these
entire issue (but not less) may be redeemed on seven months’ notice at bonds and most of the stock being pledged under its trust deeds. In
105 and interest. See abstract of mortgage and of the mortgages se 1889-90 surplus over fixed charges $42,136, against $31,148 in 1888-89.
curing the bonds pledged in V. 51, p. 243.
Pacific Short Iiine.—Completed from Sioux City to O’Neill, Neb.,
From January 1 to July 31 in 1891 (7 months), gross earnings of
railroads were $2,978,094, against $2,330,914 in 1890; net, $816,807, 130 miles, under the charter of the Nebraska & Western. Projected
from Sioux City to Ogden, a distance of 960 miles. Was to have been
against $199,603. In 1889 gross, $4,576,136; net, $1,575,351;
rental received $2,414,960; loss to lessee after deducting credits and sold in foreclosure Sept. 1,1891, but sale was postponed, and it is said
adding loss on water lines ($17,570), etc., $744,422. In 1890 gross will probably take place about Oct. 10. In December, 1890, receivers
$4,954.711; net, $908,336; rental received $2,556,593; other expenses were appointed and their report as to the financial condition of the
met by lessee (loss on water lines $70,517, interest on Northern Pacific property, issued in April, 1891, was published in V. 52, p. 571.—(Y. 48,
Terminal bonds $55,415, etc.) $140,933; loss to lessee, $1,789,190.—(V. p. 562; V. 49, p. 115,145; V. 51, p. 910; V. 52,p. 571; V. 53, p. 157,326.)
P a d u c a h Tennessee Sc A la b a m a .—In operation from Paducah,
50 p. 70, 706, 771, 910; V. 51, p. 243.)
O regon Short L in e Sc U ta h N orth e rn .—Owns road from Ky., to Paris, 65 miles, and to be built to Sheffield, Ala., 135 miles ad
Granger, Wyoming, to Huntington, Oregon, 542 miles; branch Sho ditional, 24 miles to Hollow Rock, Tenn., being under construction.
shone to Ketchum, Idaho, 70 miles; Ogden to McCammon, Idaho, 110 The mortgage (Central Trust Co., trustee) is for $1,680,000. Stock au
miles; Pocatello to Silver Bow, Montana, 256 miles; Lehi Junction to thorized, $5,000,000 ($20,000 per mile); outstanding, $1,320,000; par
Tintic, Utah, 54 miles; Ogden, Utah, to Frisco, 275 miles; sundry $100.
P a n a m a .—Owns from Colon to Panama, 48 miles. Opened through
branches, 114 miles (of which 40 miles narrow gauge); total, 1,421
miles. Also leases and controls the Ore. R. & Nav. Co., which see above. January 28,1855. The subsidy bonds are secured by a pledge of the
sum of $225,000 annual subsidy payable to the U. S. of Colombia by the
This company was formed in 1889 by a consolidation of the Oregon
Short Line, the Utah Northern and other lines. It is controlled by the company. Of the bonds given above as outstanding $249,000 of the 7s
Union Pacific Railway Co, which operates it under a traffic agreement, and $411,000 of the 6s are held by the sinking fund of the 7s of 1867.
In June, 1881, most of the stock was sold to parties interested in the De
and owns a majority of the stock.
Oregon Railway & Navigation stock for $13,940,700 is owned, $12,- Lesseps Panama Canal Co. The report for 1890 was in Chronicle, V.
500,000 being deposited as security for the collateral trust bonds of 52, p. 569, showing net income of $922,500, against $937,300 in 1889,
1889. There is a sinking fund for this issue, but not less than the and a surplus over charges of $348,873, against $384,150. Dividends
whole amount can be called for payment, and that only at 105. The since 1881 have been: In 1882,12V; in 1883,13V ; in 1884,16; in
Union Pacific guarantees both principal and interest of the collateral 1885, 10; in 1886 and 1887, nil; in 1888, 26; in 1889, 9 ; in 1890,'
trust bonds, and on January 1, 1891, held $4,631,000 of them in its March 27,' 3V; Dec. 16, IV ; in 1891, March 27, 2. (V. 50, p. 4 8 2 ; V.
treasury, together with $1,811,000 consolidated 5s. Trustee is Ameri 52, p. 569 ; V. 53, p. 324.)
can Loan & Trust Co. of Boston. See mortgage abstract, V. 51, p. 243.
Pa terso n & H u d s o n . - Owns from Weehawken, N. J., to Paterson,
The consolidated mortgage due 1919 (trustee, American Loan & Trust N. J., 13 miles. The road was leased in perpetuity in 1852 at a rental
Company) is a first lien on 201 miles and a second on 1,220 miles. Suf of $48,400 per year, and is operated by the New York Lake Erie &
ficient bonds are reserved to retire prior bonds when due, and the total Western as part of its main line.
issue on the road in operation is not to exceed, including prior liens,
Pecos V alley .—Projected
c
$25,000 per mile. Bonds may be issued for extensions at $25,000 per Pacific Railroad, via the valleyfrom Pecos City, Texas, on the Texas 4
of the Pecos River,
mile (unless a majority of the bondholders object) and additional amounts Mexico, on the Atchison Topeka & Santa Fe, aboutto Albuquerque, New
340 miles; completed
for terminals ana second tpack, but not exceeding in the aggregate $35,- in November, 1890, from Pecos City to Eddy, about 90 miles. (See V.
000 per mile of double track. The issue is redeemable (but only as a 51, p. 458.) The mortgage (trustee, Mercantile Trust Company of New
whole) on any coupon day at 105 and interest. There will be a sinking
$5,000,000.
fund when earnings suffice, but for this no bonds can be drawn. Pro York) is forpar $100. (V. Stock authorized, $5,000,000; outstanding,
51, p. 458.)
vision was made for exchanging the securities of the original com $1,105,000;
P en n sy lv an ia .—(See I f a»)—Line of R oad—The Pennsylvania sys
panies for consols, so that the consolidated mortgage is gradually be
coming a first lien. The Union Pacific guarantees interest on this issue tem embraces about 7,949 miles of railroad, including all east and west
of Pittsburg. At the close of 1890 the mileage operated east of Pitts
under a traffic agreement. See abstract of mortgage V. 51, p. 242.
Stock authorized $27,000,000 (par, $100); outstanding $26,119,853, burg & Erie, on which earnings as reported were based, was divided as
of which the Union Pacific on January 1,1891, owned $14,999,903. follows: Pennsylvania Division and branches, 1,440; Philadelphia &
Erie Division, 546; United Railroads of New Jersey and branches, 448;
Floating debt January 1,1891, $1,791,734.
From Jan. 1 to July 31, in 1891 (7 mos.) gross earnings were $4,356,- total operated, New York to Pittsburg, with branches, 2,434.
Organization , L eases, < c .—The charter of the Pennsylvania Rail
Sc
193, against $4,222,828 in 1890; net, $1,664,075, against $1,438,913;
road was dated April 13,1846. The Harrisburg Portsmouth Mount Joy
mileage, 1,421, against 1,399.
& Lancaster is still operated under a lease, though forming part of the
Report for 1890 was in V. 52, p. 679, showing the following:
INCOME ACCOUNT.
main line.
The Pennsylvania Company was organized m 1870 as an auxiliary
1889.
1890.
corporation to control all the fines west of Pittsburg and Erie, the Penn
Average miles operated....................- ..............
1,397
1,464.
sylvania Railroad Company holding all its stock.
Stock and B onds.—The Pennsylvania Railroad stock has been in
Gross earnings.................................................. 6,512,345
7,488,031
Net earnings....................................................... 2,628,665
2,334,047 creased from time to time, chiefly by the sale of stock at par to stock
Income from investments, etc........................
449,452
884,165 holders, for the purpose of raising capital for new acquisitions, etc.
In March, 1890, $20,000,000 new stock was authorized by stock
3,218,212 holders for improvements and additions as required, and the President’s
Total net income....................................- - • 3,078,117
remarks on this policy were given in V. 50, p. 392. Of this $20,000,000
Disbursements—
„
one-half
in the amount
2,577,412 stock, towards the table has been issued and is includedp. 622, 801.
Interest on bonds.............................................. ^»834,879
above. See Chronicle , V. 50,
201,110 outstanding in
Sinking fund.......................................................
lu,423
Dividends since 1879—In 1880,6 and 1 per cent in scrip; in 1881, 8;
1,789,190 in 1882, 8 V ; in 1883, 8 V ; in 1884, 7; in 1885 and in 1886, 5 ; in 1887,
Loss on leased lines (Ore. Ry & Nav. system)
736,206
47,182 5 V ; in 1888 and 1889, 5 per cent yearly; in 1890, May, 3 per cent;
Miscellaneous....................................................
201,811
cash or non-interest
Total............................
2,788,319
4,614,894 Nov. 2V ; in 1891, May, 3, either 1,1891. (See V. 52, p. bearmg scrip,
convertible into stock till August
718.)
Balance...................................................- ......... sur.289,798 def.1,396,682
Price of stock in Philadelphia (price per $50 share not percentum
price)—In 1880, 48,®67:1 in 1881, 59V®70V ; in 1882, 5378®651 in
4;
4;
V. 51, p. 84,172 242,243 ; V. 52, p. 679, 902.)
BONDS
AND
STOCKS
B A IL K O A D
S e p t e m b e r , 18 91.]
IN V E S T O R S ’ SU P P LE M E N T .
1 0 6
[V ol, L U I .
Subscriber's w i l l co n fer a great fa v o r b y g iv in g Im m ediate notice o f an y e rro r discovered In these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Size, or
Miles
Amount
Par Outstanding Rate per When ¡Where Payable, and by Stocks—Last
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Cent. Payable,
Road. Bonds Value.
on first page of tables.
Pennsylvania—( Concluded).—
Navy Yard mort. (extended 20 years in 1881).. .r
Collateral trust loan, gold (s. f. p. c.) not dr’n.c*
Penn. Car Trust (in series payable i|o yearly) —
Equip.Tr. (ser.“A” to “ H,”payable one-tenth y’rly)
Equip. Tr. gold loan (s. f. 5 p.c.) not drawn....... c*
Del. Ave. Market Co. 1st mortgage.......................r
Pennsylvania Company—Stock..................................
Bonds, sec. by P. Pt. W. & C. stock (s. f.dr’n at 105.r
Bonds, g., sec. by pl’ge & guar. (s. f. not dr’n)c*&r
Pennsylvania <- Northwestern—Stock........................
£
Bell’s Gap 1st mortgage, Bells Mills to Lloyds.c*
Extension 1st mortgage.....................................o*
Consol, mort. (for $550,000) s. fund not dr’n.c*
•Clearfield & Jefferson 1st mortgage................... c*
Penn. & N. W. gen. mortgage for $1,660,000.......
Pennsylvania Poughkeepsie < Boston—1st M., g. .o*
6
2d mortgage for $500,000, gold...................... .......
Pensacola & Atlantic—
1st M., gold (s. f. dr’n at 110), guar, by L. & N. .c*
2d mortgage (2d on lands)................................- .c*
Land grant bonds........................ .............................
Peoria < Bureau Val.—Stk., 8 p. c. rent’l C. R.I.&P.
&
Peoria Decatur &Evansville—Stock............................
1st mort., gold (Peoria Div., Pekin to Mattoon) c*
lstm . (Evansv.Div., Mattoon to Evansville,) g.c*
Second mortgage, gold.........................................e*
Peoria dt Eastern—Ind. Bl. & W. 1st mort., pref..c&r
Ohio Indiana & Western 1st mort.,pref.,gold...c*
Consol, mort. for $10,000,000, interest guar.., .c*
2d consol, mortgage,income, non-cumulative. ..c
Peoria < Pekin Union—1st mortgage, gold............c
6
2d mortgage, gold (issued for incomes) — ........ c
63
8
26
26
37
63
73
73
160
160
1876 $5,000 $1,000,000
1,000
9,900,000
1883
1881-4 1,000
1,750,000
6,200,000
1886-9 1,000
1,000
2,932,000
1889
5,000
3,000,000
1889
50 20,000,000
1,000
1,543,000
1877
1,000 19,467,000
1881
50
2,000,000
500
1873
180,500
1,000
1875
88,000
158,500
1883 500 &C.
1,000,000
1886 500 &c.
1,000
233,000
1890
1,000
1,500,000
1889
1,000
250,000
1890
1881
1888
1884
47
110
135
238
202
342
202
202
20
20
1880
1880
1886
1879
1888
1890
1890
1881
1881
1,000
1.000
1,000
100
100
1,000
1,000
1,000
100 &c.
500 &c.
1,000
1,000
1,000
1,000
1883, 561
s'®64%; in 1884, 49l4@61; in 1885,45%®56ie; in 1886, 513s
<©60*4; in 1887, 531
a®60; in 1888, 52ti@56f!8; in 1889, 501i»56; in
1890, 4738®561 in 1891, to Sept. 18 inclusive, 495s'®54%.
e;
This company owns $10,890,950 stock of the Philadelphia Wilmington
& Baltimore Railroad, and the four per cent bonds of 1921 are purchased
early, if obtainable at not over par, with the surplus proceeds of PhilaI elphia Wilmington & Baltimore dividends.
Interest on general mortgage 6s of 1867 is payable on coupon bbnds
January 1 and July 1; on registered bonds, April 1 and October 1. In
terest on consolidated 6s of 1873 is payable on coupon dollar bonds
on June 15 and December 15; on coupon sterling bonds, January 1 and
July 1; on registered bonds quarterly, March 15, &o. Interest on
consolidated 5s of 1879 is payable on eoupon bonds March 1 and Sep
tember 1; on registered bonds, quarterly, March 1, &c.
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.
The equipment trust bonds of 1889 have a sinking fund of 5 per cent
yearly, and if bonds cannot be bought at par the sum is to be invested
m new equipment to be subject to the trust.
Operations, F inances, &c.—The total cost to the Pennsylvania Rail
road Company of the stocks and bonds of other companies held in its
treasury was, up to January 1,1891, $113,183,734 (par value of the
same, $150,993,328), most of which is represented on the other side of
the balance sheet by issues of Pennsylvania Railroad stock and bonds
and other debit items.
Its guaranteed securities are bought up by the Pennsylvania Railroad
Company with 1 per cent of the net income yearly, and $7,125,050 so
purchased were held on January 1,1891. The sinking fund for consols
January 1, 1891, held—Consols, $1,771,980; real estate mortgages,
$2,093,900; cash, $29,813.
From January 1 to July 31, 1891 (7 months), gross earnings on
lines east of Pittsburg and Erie were $37,155,193, against $37,332,977
in 1890; net, $10,783,268, against $10,331,714 in 1890. For same
periods on lines west of Pittsburg and Erie gross earnings in 1891
showed a decrease of $1,107,400 compared with 1890 and the net earn
ings an increase of $341,300. See Y. 53, p. 267.
The report for 1890 was in the Chronicle, V. 52, p. 371, 389, 392. A
summary of the total business of 1889, compared with previous years,
is shown in the following :
EARNINGS ON ALL LINES BOTH EAST AND WEST OP PITTSBURG & ERIE.
1888.
1889.
1890.
Gross earnings....................$116,509,293 $122,917,337 $133,521,623
Operating expenses............
80,787,336
83,811,128
92,003,365
Net earnings................ $35,771,957 $39,106,209 $41,518,258
The income account has been as follows, the “ net income ” given in
the first line being the amount of income after deducting interest pay
ments.
INCOME ACCOUNT OF PENNSYLVANIA RAILROAD COMPANY.
Net income Penn. RR. Div’n
Net loss or gain on N. J. Div.
Loss on Pitts. & Erie Div...
Balance...................... .
From this balance deduct—
Advances to Penn. Co........
Payments to trust fund.......
Consol, mortgage redeemed.
Allegh.Val.RR.Co.—Defic’y.
Penn. Canal on acc’t of int.
Am.SS.Co.-To meetint.guar
Extraordinary expenses—
1888.
$
9,979,299
—160,501
9,637
1889.
$
10,870,351
+138,712
16,316
1890.
$
11,030,401
+396,885
1,644
9,809,161
10,992,747
11,425,642
87,433
324,800
160,179
188,510
45,000
1,530,913
93,498
324,800
119,005
1,020,000
71,121
324,800
100,730
90,000
1,161,547
2,768,198
7,040,963
Balance to credit of incorni
Dividends.............................
(5)5,327,270
To credit of profit and loss.
Bal.in set’m’t of claims, &c.
Expenses of floods June,’89.
1,713,693
—93,272
1,632,024
2,336,835'
2,169,327
8,655,912
9,256,315
(5) 5,327,270 (5*2) 6,241,873
3,328,642
+119,370
—2,609,325
3,014,442
1,064,704
................
1,620,421
838,687
1,949,738
Balance...........................
Bal. profit and loss Dec. 31.
19,229,369
20,068,055
22,017,794
" ( Y . 50, p. 34 8, 354, 392, 452, 561, 590, 622, 771,801, 904; V. 51, p.
■876; V. 52, p. 322, 371, 38 9, 39 2, 479, 498, 681; V. 53, p. 107, 267.)
P en n sy lv an ia C om p an y.—The Pennsylvania Company is a cor
poration chartered by the Pennsylvania Legislature, April 7,1870, dis- «net from the Pennsylvania Railroad, and it operates all the leased
lines west of Pittsburg. Its stock and $2,500,000 4*2 per cents are
owned bv the Pennsylvania Railroad Company. Besides the bonds
given above as.outstanding $1,657,000 of 6s and $533,000 of 4LJS are
held in the sinking fund.
.
nnr. nnn »
The 6 per cent bonds are secured by deposit of $4,000,000 of Pitts
burg Fort Wayne & Chicago special stock. The gold bonds of 1921 are
.secured by a deposit in trust of the leases of the Pittsburg Fort Wayne
-& Chicago and the Cleveland & Pittsburg railroads and are also guar
anteed by the Pennsylvania Railroad Company, the trustees or the
mortgage teeing Wistar Morris, John P. Green and Henry D. Welsh.
3,000,000
360,000
925,000
1.500.000
8.380.000
1.287.000
1,470,000
2,088,000
1,000,000
500,000
8,103,000
4,000,000
1,495,000
1,499,000
5
4ieg.
5
4
4 g.
43*0
4 ’
6
4*ag.
2ia
7
6
6
6
5
6 g.
6 g.
J. & J.
J. & D.
Quar’ly.
Q.—F.
M. & S.
M. & S.
Q.—J.
J. & J.
J. & J.
J. & J.
F. & A.
A. & O.
J. & J.
J. & J.
J. & J.
J. & J.
Phila., Pa.Co.for Ins.&c.
Phila. ,Provid’tL. &T. Co.
do
do
Phila., S.Dep. & Ins. Co.
Phila., Gir’d Life &c. Co.
Phila., 233 So. 4th St.
Pittsburg, Co.’s Office.
Phila., Tr. S. D. & I. Co.
N. Y., Nat’l City Bank.
Phila., Guar. Trust Co.
Phila., 105 S. Fourth St.
do
do
Phila., Guar. Trust Co.
do
do
do
do
July,’90, coup, last paid
do
do
Jan. 1, 1901
June 1, 1913
1891 to 1894
1891 to 1899
Sept. 1, 1914
Mar. 1,1909
For 1883
July 5, 1907
July 1, 1921
July 2, 1891
July 1, 1893
Aug. 1, 1905
Apr. 1, 1913
Jan. 1, 1927
Jan. 1, 1930
Jan. 1, 1939
Jan. 1, 1910
6 g. F. & A. N. Y.,23 Nassau Street, Aug. 1, 1921
do
do
Feb. 1, 1928
F. & A.
6
do
do
Apr. 1, 1894
A. & 0.
6
N.Y. ,Ch.R.I. & Pac. RR. Aug., 1891
4
F. & A.
6 g6 g5 g.
7
5 g.
4
4
6 g.
41
ag.
J. & J. N. Y., Central Trust Co.
do
do
M. & S.
do
do
M. & N.
J. & J. N. Y., Drexel, M. & Co.
do
do
Q .-J.
do
do
A. & O.
April 1 N. Y., when earned.
Q.—F. N. Y., Central Trust Co.
do
do
M. & N.
Jan.
Sept.
Nov.
Jan.
Apr.
Apr.
Apr.
Feb.
Feb.
1,
1,
1,
1,
1,
1,
1,
1,
1,
1920
1920
1926
1900
1938
1940
1990
1921
1921
The whole number of miles operated or controlled by this company is
3,496. The income account has shown the following results after pay
ment of all charges: deficit in 1884 of $710,220; deficit in 1885 of
$1,094,671; deficit in 1886 of $200,674; in 1887, net profit, $675,516;
in 1888, loss, $74,891; in 1889, net profit, $727,802; in 1890, net
profit, $1,081,960. (V. 50, p. 590; V. 53, p. 21.)
P e n n s y lv a n ia & N o r t h w e s te r n .—Owns Bellwood, Pa., to
Irvona, Pa., 26 miles, and Irvona to Horatio, Pa., 37 miles; total, 63
miles. A consolidation January 1, 1890, of the Bells Gap and Clear
field & Jefferson roads. Dividends have been—in 1890,5 per cent; in 1891
Jan. 2, 2*3; July, 2^. Of the $1,660,000 general mortgage bonds au
thotized, sufficient are held to retire the prior issues, when due. Five
per cent car trusts due 1891 to 1900, $423,000, due $50,000 yearly on
March 1. In April, 1891, it was voted to increase the stock from $1,660,000 to $2,000,000, for double tracking, &e.
Gross earnings in 1890, $809,042; net, $250,388; surplus over
interest, $144,320. E. J. Berwind, Pres’t, Philadelphia.—(V. 50, p. 37 )
P e n n s y lv a n ia P o u g h k e e p s ie & B o s t o n .—Owns from Slatlngton, Pa., to New Jersey and New York State line, about 73 miles. Con
nects with lines running to the Poughkeepsie Bridge. Completed in
November, 1889. Trustee of 1st mortgage of 1889 is the Holland Trust
Co. Interest was defaulted January 1, 1891, and in February, H. H.
Kingston, of Philadelphia, was made receiver. Receiver’s certificates
for $200,000 have been issued to pay off car trusts. Stock au thorized
$2,000,000; outstanding, $1,750,000; par, $50. Floating debt Janu
ary 1,1891, $1,283,375._ In 1890 gross earnings were $114,253; deficit
under operating expenses, $120,624. President, W. W. Gibbs, 411 Wal
nut St., Philadelphia.—(V. 50, p. 353, 423; V. 51, p. 609; V. 52, p. 351.)
P e n s a c o la & A t la n t ic .—Pensacola, Fla., to River Junction, Fla.,
160 miles. Operated by Louisville & N*ashville. Stock, $3,000,000 (par
$100), $1,556,300 of which, and $1,000,000 first mortgage bonds, all
the seconds and $925,000 land grant bonds were on June 30,1890, held
by Louisville & Nashville, the first mortgage bonds and $1,550,000
stock being pledged under its 10-40 mortgage; 11-10 per cent of first
mortgage bonds may be drawn annually at 110. Land grant unsold
June 30, 1890, 1,421,920 acres; sales in 1889-90, 33,054 acres for
$33,395. In 1890-91 gross earnings were $366,998; net, $47,741; in
terest, $200,979; taxes, $36,754; defloit, $189,991.
P e o r ia & B u r e a u V a lle y .—Owns from Bureau Junction to Peo
ria, 111., 47 miles. The road was leased in perpetuity April 14,1854, to
the Chicago & Rock Island Railroad at a rental of $125,000 per annum.
P e o r ia D e c a tu r & E v a n s v ille .—(See Map Evansville & Terre
Haute.)—Owns from Pekin to Evansville, 235 miles; branch, 6 miles;
leases, Pekin, 111., to Peoria, 111., 10 miles; through Decatur, 3 miles;
total, 254 miles. This road is a consolidation of the Pekin Lincoln &
Decatur Railroad and the Decatur Mattoon & Southern and the Grayville & Mattoon. It is operated in harmony with the Evansville < Terre
&
Haute. The 1st mortgage bondholders have the right to cast ten votes
for each of their bonds at stockholders’ meetings. From July 1,1891,
to Aug. 31,1891 (2 months), gross earnings on 254 miles were $152,468, against $140,350 in 1890. Last report inV. 51, p. 679. In 1890-91
approximate gross earnings were $875,790. In 1889-90 gross, $778,912; inet, $322,451; interest on bonds, $269,820; other interest,
$16,371; rentals, $28,500 car trusts redeemed, $33,000; deficit for
year, $25,240; due Evansville & Terre Haute, $168,255. (V. 50, p. 107 i
Y. 51, p. 570, 679.)
P e o r ia & E a s te r n .—Owns from Pekin 111., to Indianapolis, Ind.,
202 miles, and has a lien of $5,000,000 on Springfield Division, In
dianapolis to Springfield, 140 miles. This road is operated by Cleveland
Cincinnati Chicago & St. Louis.
The Ohio Indiana & Western was sold in foreclosure February 20,
1890, and reorganized per plan in Chronicle, V. 49, p. 616. Its suc
cessor, the Peoria & Eastern, is leased till April 1,1940, to the Cleve
land Cincinnati Chicago & St. Louis, whioh guarantees the interest, but
not the principal, of the first oonsols, and owns one-half the $10,000,000
stock, pur $100. If the Peoria & Eastern’s earnings added to the net in
come (up to $200,000) over operating expenses of the Springfield Divi
sion of the Ohio Indiana & Western exceed the sums necessary to
pay the Peoria & Eastern’s fixed charges and to reimburse the Big Four
for all advances up to that time, the surplus is to go to the second con
solidated incomes, and then if a surplus remains this is to go to the
Peoria & Eastern itself. The consolidated mortgage of 1890 covers, be
sides the road owned, the $5,000,000 purchase money lien on the Springfield Division. See abstracts of the consolidated mortgage and of the
consolidated income mortgage in V. 51, p. 246, and of Ohio Indiana &
Western mortgage, Y. 47, p. 201. From July 1 to July 31,1891 (1
month), gross earnings were $157,917, against $108,774 in 1890; net
$42,184, against $26,541. In year ending June 30,1891, $1,518,679;
net, 242,816; interest, $420,850; rentals and other fixed charges
$43,007; deficit, $221,042. (Y. 51, p. 246; V. 53, p 3 2 4 )
P e o r ia & P ek in . U n io n .—Owns from Pekin to Peoria, 10 miles on
each side of Illinois River; total operated 20 miles. The road is a union
road, and the stock of $1,000,000 was taken by the different Peoria RR.
companies, and they pay a rental for the use of the road and also pay
terminal charges. See full description in V. 36, p. 253. Dividends
in 1891, July, 2 per cent. See V. 53, p. 22. Receipts in 1889-90,
$299,458; net, $22,920; rentals leased roads, $147,212; other income,
$15,993; total net revenue,1
'$186,125; paid interest on bonds, $157,155.
(Y. 53, p. 22.)
-v.
107
t
BONDS.
AND
STOCKS
B A IL K O A D
S eptem ber , 1891.]
10 8
IN V E S T O R S ’
SUPPLEM ENT.
[V o l. L i n .
Subscribers w i l l confer a great fa v o r b y g iv in g Im m ediate notice o f an y e rro r discovered In these T ables.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due,
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Ifor explanation of column headings, &c., see notes of
Par
of
on first page of tables.
Whom.
Dividend.
Road. Bonds Value. Outstanding Cent. Payable
Perkiomen—1stM., ser. I (1st l’n) gu. by P.&R.,g.c*
Phila., Pa. Co. Ins. on L.
$799,600
38 1887 100 &c.
5 g__J .
1st M., ser. 2 (2d l’n) g., guar, by P. & R. (end.).c*
1,000
do
do
1,125,000
5 g.
38 1888
Petersburg—Stock............. ...........................................
100
Richmond.
960,800
3
59
Guar. pref. stock, 3 per cent, lien prior to mortg.
100
do
323,500
1% J. & J.
1st mort. (payable $25,000, due yearly Jan. l)c<fcr
ic
180,000
59 1869 500 «S .
8
J. & J. Richm’d & Petersb’g,Va
Mort. bonds, class A,$200,000 reserved for 1st M.
693,000
do
do
59 1881
5
J. A J.
Mortgage bonds, class B..........................................
do
do
800,000
6
A. & O.
59 1881
Philadelphia A Baltimore Central—Stock................
50
79
2,495,650
Gen.M.(NewlstM.)for $2,500,000,$1,075,0004*23
1,000
2,075,000 4% & 5 M. & N. Phila., Penn. RR. Co.
79 1881
Phila. A Erie—Sunb. & E. 1st mort. (ext. in’77).c&r
1,000
976,000
40 1857
7
A. & O. Phila., Penn. RR. Co.
Gen. M., g.,guar.byPa.RR.($5,263,000 g., 5s).c<fer 287 1869
1,000 13,943,000 5 g.& 6 g. See rem. Phil., Pa. RR. & London.
General mortgage, gold, guar................................ r 287 1869
1,000
4,755,000
4 g. A. & O. Phila., Penn. RR. Co.
Phila. Qerm. A Chestnut Hill—1st M., gu. by Pa. RR.r
1,000
7 1883
1,000,000
4% M. & N. Phila., Penn. RR. Office.
Phila. Qerm. ANorrist’n—St’k 12 p.c.rent.,P.&R.RR.
50
2,231,900
29
3
Q.—M. Phila., Treasurer of Co.
Phila.Harrisburg A Pittsburg—1st M.for $2,000,000
1,000
1890
(?)
5 g. A & 015 Phila., Comp’y’s office.
50 39,488,362
Philadelphia A Heading—Stock........... .....................
1st mortgage, $ and &.......................................... ..c
1843 $ & £
1,512,700
J. A J. Philadelphia & London.
' 6*
Mortgage loans of 1844,1848 and 1849.............. c
1844-9 1,000
954,000
J. & J. Phila., Of., 227 S. 4th St.
6
do
do
Mortgage loan of 1857 convertible....................... c
79,000
1857 500 &c.
4% J. & J.
1,000
do
do
Mortgage loan of 1868............................................ c
2,700,000
A. & O.
1868
7
do
do
Consol, mort. ($8,162,000 are gold 6s)................ c
1871 200 &c. 18,811,000 6 g. & 7 J. & D.
do
do
Impr’t M., g.,s.f. drawn at 100. See V. 48, p.260 .c
1,000
1873
9 364,000
6 g. A. & O.
Consol. M. of 1882, stamped (payable at notice) ,c*
do
do
1882 5Ó0&C.
5,767,042
5 g. M. & N.
General mortgage, gold ($100,000,000)........ c fcr 327 1888 l,000&c 38,104,658
*<
do
do
4 g. J. & J.
Phila. Terminal M., gu. by P. & R. Term. RR. Co.
8,500,000
1891
Q .-F . Phila., Prov. Life & Tr.
5 g.
1st pref. inc. M., not cum. ($24,400,000) gold.. .c* 327 1888
1,000 23,971,000
5 g. Feb. 1 % per ct. paid in 1890
2d pref. inc. M., not cum. ($22,500,000) gold...c* 327 1888
1,000 16,176,326
5 g. Feb. 1 5 p. ct. paid. Feb., 1889
3d pref. inc. M., not cum. ($5,241,000 conv.) g. .o* 327 1888
1,000 18,681,567
5 g. Feb. 1 2% p. ct. paid Feb., 1889
Deferred incomes (coming after stock).................. —
7,670,427
6
P erk lom en .-O w n s from Perkiomen Junction, Pa., to Emaus Junc
tion, Pa.. 39 miles. Stock subscription, $38,040. Reorganized in 1887.
There was due Philadelphia & Reading RR. November 30,1890, on loan
account, $918,023. In year ending November 30,1890, gross earnings
were $251,800; net, $85,109; interest, $96,230; deficit, $11,120,
against $22,284 in 1888-89.
P etersburg.—Owns Petersburg, Va., to Garysburg, N. C., 59 miles;
rents Garysburg to Weldon (Seaboard & Roanoke), 2 miles; total, 61
miles. Reorganized in 1877 without foreclosure. From July 1,1891,
to July 31, 1891 (1 month), gross earnings were $40,607, against
$45,207 in 1890; net, $18,866, against $18,735. In year ending
June 30, 1891, gross earnings were $527,644; net, $193,893. In
1889-90, gross, $498,918; net, $187,455; surplus over charges and
dividend on preferred stock, $56,519. Dividends on common stock in
1889, 2 per cent; in 1891, May 1, 3. (V. 50, p. 312.)
P h ila d e lp h ia Sc B altim ore C entral.—Philadelphia to West
chester, 26 miles; Westchester Junction to Octoraro, Md., 46 miles;
leased Chester Creek Railroad, 7 miles; total operated, 79 miles. The
Philadelphia Wilmington & Baltimore Railroad holds practically all
the $2,495,650 stock, and operates the road as part of its system. In
1889 90, net earnings, $156,391; surplus over charges, $5,677, against
$4,328 in 1888-89.
P h ila d e lp h ia Sc E rie.—Owns from Sunbury to Erie, 287 miles.
Formerly Sunbury & Erie Railroad. It is leased to Pennsylvania Rail
road for 999 years, and actual net receipts are paid as rental. The gen
eral mortgage is guaranteed by the Pennsylvania Railroad, and the in
terest on the 6s is paid J. & J., on the 5 per cents A. & O. The Pennsyl
vania Railroad Company owned December 31, 1890, $3,501,800 com
mon and $2,400,000 preferred stock and $4,143,000 general mortgage
bonds, and the city of Philadelphia (sinking fund) $2,250,000 common
stock. Capital stock—Common, $7,975,000; preferred 7 per cent,
$2,400,000; par, $50.
From January 1 to July 31,1891 (7 months), gross earnings were
$2,788,938. agst. $2,891,023 in 1890; net, $1,028,011, agst. $909,249.
The report for 1890 in Chronicle, V. 52, p. 278, showed gross earn
ings, $5,113,787; net, $1,698,192; surplus over fixed charges and 7 per
cent on preferred stock, $322,356. (Y. 50, p. 274; Y. 52, p. 278.)
•
P h ila d e lp h ia G erm a n tow n Sc C hestnut H i ll.—In PhiladeP
hia from Germantown Junction, on Connecting Railway, to Chestnut
[ill, 7 miles. From May 1,1883, leased for 30 years to the Pennsyl
vania Railroad Company, which guarantees 4*2 per cent on the bonds.
Rental, net earnings. Pennsylvania Railroad owns $999,750 of
the $1,000,000 stock (par, $50). Gross earnings in 1890, $240,407; net,
over expenses and taxes, $62,317 (against $67,382); interest, $45,000.
P h ila d e lp h ia G erm a n tow n Sc N o rristow n .—Philadelphia,
Pa., to Norristown, Pa., 17 miles; Germantown Branch, 3 miles; Ply
mouth RR., 9 miles; other, 4 miles; total, 34 miles. Leased November
10,1870, to Philadelphia & Reading Railroad for 999 years at a rental
of $269,623 and $8,000 yearly for organization expenses. Dividends of
12 per cent per annum are paid regularly. Stock, $2,246,000—par, $50.
P h ila d elp h ia H arrisb u rg Sc P ittsb u rg .—Owns from Harris
burg, Pa., to Shippensburg, on the Western Maryland Railroad, 40 miles,
with branches, 1 mile. Opened in April, 1891, and leased for 999 years
to the Philadelphia & Reading, which guarantees the bonds. Trustee
of the mortgage is the Pennsylvania Company for Insurance on Lives,
etc.—(V. 51, p. 383, 459; V. 52, p. 124, 643.)
P h ila d e lp h ia Sc R ea d in g .—(See Map;—Line of R oad—Owns
main line, Philadelphia to Mount Carbon, Pa., 98 miles; branches
owned, 229 miles; leased lines, 549 miles; roads controlled, 231 miles;
total operated November, 1890,1,106 miles.
In November, 1890, the Port Reading Railroad was organized in the
interest of this company to build 20 miles of road from Bound Brook to
Staten Island Sound (near New York), where extensive terminals will
be established. See V. 51, p. 681; V. 52, p. 124.
Organization , L eases, &c.—The Philadelphia & Reading Company
was chartered April 4,1833. Itleases anumberof roads in Pennsylvania;
also; the North Pennsylvania Railroad and Delaware & Bound Brook,
forming the line from Philadelphia to New York, and controls Reading
& Columbia. The fiscal year ends November 30. The annual election
is held early in January.
In May, 1880, receivers were appointed and held possession till May,
1883. In June, 1884, the company again went into receivers’ hands,
and so remained till January, 1888.
In February, 1886. the Drexel-Morgan syndicate was formed, and the
plan of reorganization was published at length, as modified, in the
Chronicle of December 18,1886, on p. 747 (V. 43, p. 747).
Under the reorganization agreement the right to vote on stock is
vested in five trustees, these including J. Lowber Welsh, J. Pierpont
Morgan, John Wanamaker, Austin Corbin, till August 1,1892. They
elect the Board of Managers and officers on the 2d Monday in January.
In December, 1890, the Philadelphia authorities granted the company
permission to extend its line by elevated railroad ten blocks to Twelfth
and Market streets. See below and V. 52, p. 391.
The Philadelphia & Reading Coal & Iron Company is a corporation
formed (Dec. 12,1871.) for the purpose of owning and working the ex
tensive coal properties of this company. The Philadelphia & Reading
^
Jan. 1, 1918
Jan. 1, 1918
May 1, 1891
July 1, 1891
Jan.,1892-’9$
July 1, 1926'
Oct. 1, 1926
Nov. 1, 1911
Oct. 1, 1897
Julv 1, 1920July 1, 1920
May 1, 1913
Sept., 1891
Oct. 15,1925'
July, 1910
July, 1910
July, 1910
Oct. 1, 1893
June 1, 1911
Oct. 1, 1897
May 1, 1922
Jan. 1, 1958
1941
Jan. 1, 1958
Jan. 1, 1958
Jan. 1, 1958
Irredeemable,
RR. Co. owns all the stock ($8,000,000) of the Coal & Iron Co., and had
invested in it November 30,1890 (as per balance sheet), $72,617,301
over liabilities. The Philadelphia & Reading also held November 30,
1890, stocks and bonds of other companies amounting to $12,904,914,
besides $1,966,777 deposited with trustees.
Stock and B onds.—The dividends paid on Philadelphia & Reading
stock from 1870 to 1875, inclusive, were 10 per cent each year; in 1876
2*2 per cent was paid and nothing since.
Price of stock in New York—In 1883, 46*4@611 in 1884, 167»
a;
@60%; in 1885,13@26; in 1886,18*2@737s; in 1887, 34@71%; in 1888,
44Lj@69; in 1889, 36@50; in 1890, 26*4@48*2; in 1891, to Sept. 1»
inclusive, 2578@427
s.
in February, 1891. it was reported the company would issue an addi
tional $3,000,000 of car trusts. See Y. 52, p. 351.
Company guarantees $2,000,000 bonds of the Philadelphia Harris
burg & Pittsburg—which see.
The consolidated 5s of 1882 are payable at par at any time.
The general, and first, second and third preference income mortgages
(trustee of all, Pennsylvania Company for Insurance on Lives, etc., ot
Philadelphia) cover in addition to the 327 miles of road owned the title
to leased lines (mostly le*sed for 999 years) all real estate, rolling stock
and vessels of the company, $8,000,000 Philadelphia & Reading Coal A
Iron Company stock, as well as the real estate of that company, and
subject to a mortgage to Philadelphia & Reading Railroad Company
dated July 1,1874, stock in other coal and iron companies amounting
to $7,448,975. An abstract of the general mortgage was in the Chroni
cle , V. 46, p. 679, and of the preference income mortgages in V. 47, p.
141 and 142. The third preference convertible bonds were issued in ex
change for the old convertible 7 per cents. They are stamped with an
agreement making them convertible at option of holder into common
stock. See V. 50, p. 276. Of the Coal & Iron Company’s bonds as given
in the table above, $765,000 are held by the sinking fund.
In February, 1889, the first and second preference bonds received full
interest, but the third preference bonds received only 2% per cent. In
1890 only % of 1 per cent was paid on the first incomes, and in Feb.
1891, no interest was paid on any of the incomes. S feV. 52, p. 124. Net
d
earnings are defined in the income mortgages as the profits of the rail
road company for each fiscal year ending November 30, derived from
all sources, after paying operating expenses, taxes and existing rentals,
guarantees and interest charges (but not fixed charges of the same sort
subsequently created); also, after deducting expenses of “ renewing,
replacing and repairing its said property and premises, including such
reasonable improvements thereof and additions thereto as shall be neoessary for the safe, proper and economical operation of the same.”
(V. 47, p. 256.)
The $8,500,000 bonds issued in 1891 for the construction of the Phil
adelphia & Reading Terminal Railroad are the Reading’s own bonds,
and are guaranteed by the P. & R. Terminal RR. Company. They are
also secured by a mortgage upon all the property of the Terminal Com
pany and by a traffic contract between Reading and the Terminal Co.
The trustee is the Provident Life & Trust Co. of Phil. See V. 53, p. 391.
Since the end of the fiscal year 1889-90 the company’s fixed charges
have been increased by the issue of $8,500,000 of 5 per cent Terminal
bonds.
From Dec. 1,1890, to July 31, 1891 (8 months), gross earnings of
the railroad company were $13,567,790, against $13,157,453 in
1889-90; net, $5,925,227, against $5,428,107; surplus over charges
and improvements, $994,667, against $541,360. The Coal & Iron Com
pany in same period had net earnings of $517,893, against $225,774
m 1889-90; deficit under charges and improvements, $741,584, against
$896,386. Total result for both companies was surplus over charges
and improvements in 1890-91 of $253,083, against deficit of $355,026
in 1889-90. See V. 53, p. 290.
The fiscal year ends November 30; the report for 1889-90 in V. 52, p.
98,120,122, showed the following:
EARNINGS AND EXPENSES.
1887-88.
$
3,407,290
9,478,760
5,621,296
952,183
62,017
1888-89.
$
3,639,546
8,954,004
5,938,976
420,448
65,640
1889-90.
$
3,898,291
9,305,536
7,210,380
448,480
71,830
Railroad—
Passenger traffic...............
Coal traffic.........................
Merchandise traffic..........
Miscellaneous....................
United States mail............
Income from stks. & bds.,
from steam colliers, &o.
. 1,293,791
1,518,761
1,231,963
Total earn’gs RR. Co..
Operating expénses.........
20,815,337
11,165,999
20,537,375
12,396,706
22,166,450
13,901,188
Net earnings RR. Co..
Net earnings C7 & I. Co... .
9,649,338
28,652
8,140,669
df.147,850
8,265,262
df.151,158
Total net both Co’s—
Deduct—
Rentals RR. Co..................
Interest RR. Co.................
Interest Coal & Iron Co...
9,677,990
2,882,582
4,516,433
834,872
7,992,819
.
2,842,319
4,085,139
826,523
3,114,104
_ . ._
2,830,744
4,351,312
822,126
8,233,887
Total deductions..........
Balance, both companies. sur.1,444,103
7,753,981
sur.238,838
8,004,182
sur 109,922
!• »
BONDS.
AND
STOCKS
R A IL R O A D
S e p t e m b e r , 1891.]
1 1 0
IN V E S T O R S ’
SUPPLEM ENT.
[V ol. L in ,
Su bscribers w i l l co n fer a great fa v o r b y g iv in g Im m ediate notice o f an y e r ro r discovered in these T ab les.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount
Par
of
Rate per When ¡Where Payable, and by Stocks—Last
For explanation of column headings, &c., see notes of
Whom.
Dividend..
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Philadelphia < Reading—( Continued.)—
£
Car trust, Series A, $100,000 due each F. & A .c*
Car trust, Series B, $51,000 due each M. & S___c*
Car trust, Series C, $30,000 due Q.—M...............c*
Car trust, Series D, $75,000 due Q.—F................c*
Equipment notes for $3,000,000............................
P. & R. Coal & I. purchase money & real estate M.
Phila. & Reading Terminal.—See Philadelphia &
Phila. & Trenton—Stock 10 p. c. rental, Penn. RR..
Philadelphia Wilmington < Baltimore—Stock..........
&
Plain Bonds............................................................... r
Plain bonds, s. fund $16,000 yearly, not drawn, .r
Plain bonds, s. fund $20,000 yearly, not drawn, .r
Plain bonds.............*................................................r
Plain bonds............................................................... r
Plain bonds............................................................... r
Piedmont & Cumberland—1st mortgage, gold---- c*
Pine Creek—1st mortgage, guar. prin. and int.......r
Pittsburg Akron & W.—1st M. for $3,630,000, g., c*
Pittsburg Cincinnati Chicago & St. Louis—Pref.......
f Chic" &Gt. East. IstM. (Chic, to Logansport)..c*
I Col. &Ind. Cent. IstM. (Colum. to Ind. & br.).c*
j Col. & Indianapolis Central 2d mortgage.......c*
( Union & Logansp’t 1st M. (U’n City toLogans.)c*
Chic. St. L. & Pitts, cons. M. ($22,000,000)..........C
*
Cincinnati Richmond & Chicago 1st mortgage.. .
Jeft’nvilleMad.&In.lstM.(s.f.$i5,000dr’n at 110)e
2d mortgage.......................................................... c
Holliday’s Cove Railroad 1st mortgage................ c
Steub. & Ind., 1st mortgage, extended in 1884...r
Pitts. C. & St. L., 1st consol, mortgage............. o&r
Pitts. Cin. Chic. & St. L. consol. M., Series A, g. .c*
1883
1884
1887
1890
1891
$1,000
1,000
1,000
1,000
$400,000
306,000
750,000
2,469,000
(i)
2,175,075
’72-’84 500 &c. 12,230,106 5,
Readi ng100
1,259,100
39
50 11,819,350
1872-4 1,000
700,000
1,000
1875
800,000
1,000
1880
1,000,000
1,000
1887
1,000,000
1,000
1887
1,000,000
1,000
1891
1,000,000
1,000
650,000
29 1886
1,000
75 1885
3,500,000
1,000
2,450,000
105 1890
100 21,852,346
223,000
Ï17 1863-5 1,000
1,000
2,631,000
208 1864
1,0Q0
780,000
208 1864
1,000
715,000
93 1865
1,000 15,131,000
580 1883
1.000
552,000
37 1866
1,000
2,507,000
159 1866
1,000
1,995,000
159 1870
1,000
1 1863
120,000
1,000
3,000,000
125 1864
1,000
6,863,000
199 1868
1,000
6.818,000
1,085 1890
•
6
F. & A. Phila., Union Trust Co. $200,000
102,000
do
do
M. & S.
6
Q .-M . Phila., Fidelity Tr. €o. 120,000
5
5 g. Q .-F . Phila., Prov’t Life & Tr. 300,000
(1)
y’rly
y’rly
y’rly
y’rly
6 & 7 Various Phila., Of., 227 8 .4th St. 1892 to i904
2ia
3
6
6
5
4
4
4
5 g.
6 g.
5 g1
7
7
7
7
5 g7
7
7
6
5
7
4 k g.
Q .-J . Phila., Company’s Office
J. & J. Phila., 233 S. Fourth St.
A. & O.
do
do
A. & 0. Phil. Of. ; Bost.,KidJPeab
J. & D.
do
do
A. & O.
do
do
M. & N. Phila., 233 S. Fourth St.
do
do
J. & J.
F. & A. New York & Baltimore.
J. & D. N. Y. Gd. Cent. Station.
New York.
A. & O.
N.Y.,Farmers’ L’n & Tr.
Various N. Y., Union Trust Co.
do
do
J. & J.
do
do
M. & N.
do
do
A. & O.
do
do
A. & 0.
do
do
J. & J.
A. & O. N. Y., Farm. L. & Tr. Co.
do
do
J. & J.
F. & A. Phila., Penn. RR. Office.
J. & J. N. Y., Nat’l City Bank.
F. & A. Phila., Penn. RR. Office.
A. & 0. Farmers’ Loan & Tr. Co.
July 1 0 ,189Î
July 1, 1891
Oct. 1, 1892
Apr: 1, 190»
June 1, 191»
Apr. 1, 1917
Nov. 1, 1922
Jan. 1, 1926
Aug. 1, 1911
Dec. 1, 1932
Apr. 1, 1940
Mav 15,1891
1893 & 1895Nov., 1904
Nov., 1904
Dec., 1905
Oct. 1, 1932
July 1, 1896
Oct. 1, 1906
July 1, 1910
Feb. 1, 1893
Jan. 1, 1914
Aug. 1, 1900
Oct. 1, 194»
Organization , &c.—This company was formed in 1890 by consolida
The following table shows traffic and joint earnings for eight years,
tion (per terms in V. 50, p. 875) of the Chicago St. Louis & Pittsburg,
excluding the business under Central Railroad of New Jersey lease:
the Jefferson Madison & Indianapolis, the Cincinnati & Richmond and
TRAFFIC AND EARNINGS OF RAILROAD AND COAL & IRON COMPANIES.
the Pittsburg Cincinnati & St. Louis. For history of constituent com
panies see Supplements prior to September, 1890.. Controlled by the
Coal from
Coal carried
e'mings
é Cross re
(tons o f Merchandise lands o f 0. < ceipts both Netboth com Pennsylvania Co. through ownership of stock. Common, $45,000,000 ?
of
Stock and B onds.—The stock authorized is:
carried one I. Co., tons
2240 lbs.),
preferred, $30,000,000; par, $100. There were to be issued in the*
panies.
mile.
2240 lbs. companies.
one mile.
consolidation about $23,000,000 of preferred stock and $21,000,000 of
common stock, In exchange for the stock of the constituent companies
1882- 3. 713,984,492 305,871,807 6,074,131 $40,045,615 $11,855,181 on the following basis: Pittsburg Cincinnati & St. Louis Railway first
8,950,554
5,672,684 37,009,753
1883- 4. 588,980,525 319,279,871
7,926*304 and second pref. and common to receive of new preferred $100 fdr two359,526,194 6,040,178 34,343,501
1884- 5. 665,018,573
shares ($50
old stock; Chicago St. Louis
6,209,202 35,683,096 7,335,603 preferred to each) of $66 66 new preferred and $33& Pittsburg Railroad
1885- 727,179,462 398,862,487
6.
receive
6,901,497 41,188,737 12,430,054 each $100 share of old stock; Chicago St. Louis &34 new common for
1886- 7. 835,308,697 444,614,423
Pittsburg old com
6,732,486 39,638,990 9,677,988 mon to be exchanged for new common share for share; Jeffersonville
1887- 848,257,474 435,904,463
8.
7,992,819
6,614,127 38,355,601
1888- 9. 879,717,468 485,690,228
Madison & Indianapolis Railroad stock to receive $50 new preferred
8,114,104
7,338,472 41,096.224
1889- 90 976,587,989 591,379,912
and $50 new common in exchange for each $100 old stock. New com
—(V. 51, p. 21,142,172, 207. 276, 345, 383, 459,538, 609, 681, 748; mon stock for $4,600,000 will be given for accumulated and unpaid
V. 52, p. 9 8 , 120, 12 2, 204, 351, 479,499, 571, 643, 681,796,832, dividends on the first preferred stock of the Pittsburg Cincinnati & St
Louis Railway. On May 23,1891, there was outstanding $19,552,420
974 ; V. 53, p. 126, 157, 290, 391, 407, 408.)
common stock and $22,231,000 of preferred.
P h ila d e lp h ia Sc H ea d in g T e r m in a l.—This is the company
The preferred stock is “ non-cumulative and entitled to a dividend
which will build an elevated railway in Philadelphia to carry the Phila of 4 per cent per annum out of the net earnings as declared by the
delphia & Reading Railroad into the heart of the eity at Twelfth and Board, with the right after 3 per cent has been declared on the
Market streets. The Reading has issued its own bonds on the property common to an additional 1 per cent, making 5 per cent in all.”"
and this company has guaranteed their payment. See Philadelphia & After 5 per cent has been declared in any year on both common and pre
Reading. See Y. 52, p. 391. Capital stock, $8,500,000. (V. 51, p. 876; ferred, the two stocks share equally.
Y. 52, p. 391, 643.)
Dividends on preferred: In 1891, May, 1 per cent.
Price of common stock: In 1890, 12® 14; in 1891, to Sept. 18 in
P h ila d e lp h ia Sc T re n to n .—Owns from Kensington, Pa., to Mor12J
a@18%.
.
.
risviile, Pa., 26 miles, and Tioga Branch, 1 mile; leases Trenton Bridge clusive,of preferred stock: In 1890, 50 @5 5 ; in 1891, to . . . 18 in
Price
Sept.
Connecting Railroad, 7 miles, and Prankford & Holmesburg Railroad, 4 clusive, 48®66. The Pennsylvania Railroad Company (Jan. 1,1891),.
miles; total owned and leased, 39 miles. On December 1,1871, it was owns $6,144,000 Chicago St. Louis & Pittsburg consols.
leased with the United Companies of New Jersey for 999 years to the
A consolidated mortgage for $75,000,000 (Farmers’ Loan & Trust Co.
Pennsylvania Railroad, at 10 per cent on stock, and is operated as a
trustees) has been
part of its New York division. In 1888 gross earnings were $3,847,440; of New York and W. N. Jaeksonreserved for the priorexecuted, $37,190,000 bonds secured by it being
liens.
net. $2,125,627.
There are $65,000 Cincinnati Richmond & Chicago matured 2d mort
P h ila d e lp h ia W ilm in g t o n Sc B a ltim o r e .—Mileage as follows: gage bonds and $797,315 of 4 and 5 per cent car trusts outstanding.
From January 1 to Aug. 31 in 1891 gross earnings showed a decreasePhiladelphia Wilmington & Baltimore Railroad, 133 miles; Philadelphia
& Baltimore Central, 80 miles; Delaware Railroad, 100 miles; Queen of $582,618, and net a decrease of $52,395.
Results have been as follows. See report in Chronicle , V. 52, p. 830.
Anne & Kent Railroad, 26 miles; Delaware & Chesapeake, 54 miles;
Cambridge & Seaford Railroad, 27 miles; Delaware Maryland & Virginia
1890.
1889.
Railroad, 98 miles; total operated, 518 miles. Owns practically all the Miles operated........................ — - ...............
1,144
1,144
stock of the Philadelphia & Baltimore Central. The bonds are all to be Gross earnings..... . ....................................... .$13,981,934
$15,452,932'
Becured by any mortgage which may be issued on the road.
11,465,489’
From 1868 to 1887, inclusive, dividends of 8 per cent were paid; in Operating expenses......................................... 10,458,799
1888 and 1889, 7; in 1890, 6; in 1891, 6. In April, 1881,
$3,987,44»
nearly the whole stock was purchased by Pennsylvania Railroad Com Net earnings.................................................. $3,523,135
74-20
Percentage of operating expen. to earns...
74-62
pany, $10,890,950 of it being now held by that company.
In year ending October 31,1890, gross earnings on 518 miles were
INCOME ACCOUNT FOR 1890.
$6,820,377; net, $1,570,202, against $1,471,224 in 1888-89; surplus
Receipts—
over fixed charges, $1,020,772; dividends, $709,161; V. 52, p. 499.
$3,991,889*
Net earnings, including other income...............................
387,185P ied m o n t Sc C u m berlan d.—Road extends from Piedmont, West Net earnings of L. Miami and 57 profits of St. L. V. & T. H.
Va., to Cumberland, Md., 29 miles. It connects the West Virginia Cen
$4,379,074
Total...............................
........
tral & Pittsburg RR., by which it is operated, with the Pennsylvania
Disbursements—
RR. system, and has a traffic contract guaranteeing 5 per cent of gross
..........
$2,564,39»earnings to and from this road over the Pennsylvania Railroad, which Interest on bonds.......................................... ........................
833,655owns $200,000 of the $650,000 stock (par $50). In 1890, gross, Rentals paid.................................... .................- ................. .......
155,412
Car trusts (including interest)............................................
$176,080; net, $72,116. H. G. Davis, President.
..........
79,444
Interest on L. Miami securities transferred....................
P in e Creek.—Owns from Stokesdale Junction to Newberry Junc
..........,
71,199
tion, Pa., on the Corning Cowanesque & Antrim Road, 75 miles. Oper Miscellaneous..... ............................................... - - - — ...... *
ated by the Pall Brook Coal Co., forming a connection between Phila
Total.................................................................. ............- ■ $3,704,100delphia & Reading lines and New York Central; bonds are guaran
^ , $674,974
teed by these companies and the Corning Cowanesque & Antrim, on the Balance, surplus........... ................................................., condition that guarantors shall advance money for interest if needed —(V. 51, p. 241, 715. 829; V. 52, p. 204, 394, 609, 643, 830.)
and take second mortgage bonds for such advances. There are $142,000
P ittsb u rg C leveland Sc T o led o .—(See Map o f Pittsburg < West
6
eoonds due in 1932. Stock, $1,000,000; par, $50. In 1889-90 lessee’s ern.)—From Newcastle Junction, Pa., to Akron, O., 77 miles. Stock,
report showed gross earnings, $770,006; net, $31,809; rent of road, &c., $3 000,000 (par $50), of which Baltimore & Ohio Railroad owns $1,505,$232,674; deficit, $200,865. Lessors report in 1889-90: Rental, &c., 000 Leased in July, 1884, for 99 years to Pittsburg & Western. The
$211,806; interest, &c., $227,293; deficit, $15,487; total deficit to July Baltimore & Ohio guarantees interest on the Pittsburg Cleveland & To
1,1890, $382,739.
ledo bonds (see terms in V. 39, p. 607.) From Jan. 1 to July 31,1891
P ittsb u rg A k r o n Sc W e ste rn .—Operates from Akron, O., to (7 months), gross earnings were $256,946, against $273,725 in 1890
Delphos, 165 miles, connecting at Akron with the Pittsburg & Western. net. $6,886, against $53,299. In year ending March 31, 1891, deficit
Completed in August, 1891. Stock authorized, $4,230,000; outstand under interest, $67,830, against $27,997 in 1889-90. (V. 52, p. 795.)
ing, $2,500,900; par, $100. (V. 50, p. 314, 835; V. 51, p. 459, 910.)
P ittsb u rg Sc C on n ellsv llle.—Owns from Pittsburg, Pa., to Mt..
P ittsb u rg C in cin n ati Chicago Sc St. L o u is.—(See M a p . ) — Savage Junction, Md., 147 miles; branches, 4 miles; leased lines, 22
miles; total, 173 miles. Leased for 50 years from January 1,1876 (re
Owns Pittsburg, Penn., via Columbus, O., to Chicago, 111., 504 miles;
Rendcomb Junction (near Cincinnati) to Anoka Junction, Ind., 169 newable forever), to the Baltimore & Ohio Railroad, which guarantee»
miles; Logansport, Ind., to Illinois State Line, 60 miles; Bradford the consolidated mortgage of 1876 and in 1884 issued its bonds for $10,Junction, O., to Indianapolis, Ind., 104 miles; Indianapolis to Jefferson 000 ,000 , secured by pledge of the above second consolidated mortgage..
ville (opposite Louisville, Ky.), 109 miles; branches, 138 miles; total Stock is $1,944,400; par, $50. In year ending September 30, 1890,..
owned, 1,085 miles. Trackage: Lake Erie & Western, Indianapolis to gross earnings-of Pittsburg division Baltimore & Ohio were $3,069,055;
net, $1,123,626; loss to lessee, $95,761.
J, ^ I
Kokomo, Ind., 55 miles.
P ittsb u rg F o rt W a y n e Sc C h icago.—Owns from Pittsburgh
Leases: Chartiers Railway, 23 miles; Little Miami and dependencies,
Cincinnati, O., to Springfield, O., 84 miles, and Columbus, O., via Day- Pa., to Chicago, 111., and branch, 470 miles. Foreclosed Oct. 24,1861, an®
ton, to Richmond, Ind., 112 miles; Pittsburg Wheeling & Kentucky, 28 reorganized under this title Feb. 26,1862. From July 1,1869, the com
miles; also has a joint interest with Terre Haute & Indianapolis in the pany leased all its road in perpetuity to the Penn. RR. at a rental equivarSt. Louis Vandalia & Terre Haute, Indiana State Line to East St. Louis, lentto interest, sinking fund of debt and 7 per cent on $19,714,286
I stock, which was increased at that time from $11,500,000. The les—
1" miles;' total leased, 406 miles. Grand total, 1,546 miles.
'S eptember , 1891.J
Ü A IL R O A D
STOCKS
AND
BONDS.
Iti
Subscribers w i l l confer a great fa v o r by givin g, im m ediate notice o f an y e r ro r discovered in tbese T ab le s.
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
of
For explanation of column headings, &c., see notes of
Par
Where Payable, and by Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.
Pittsb. Cleve. &Toledo—lstM.,gold,int. guar. B.&O..
Pittsburg < <onnellsville—1st mortgage!..................
6
Oonsol. mort., guar. B. & 0. (s.f. £7,200 per year)..
2d consolidated mortgage, gold (pledged).............
Pittsb.Ft. Wayne < Chic.—Slock, 7 p. ct. guar. Pa. RR.
£
Guaranteed special improvement stock................
1st mortgage, series A to F 1
t
(
2d
do
series G to m £8i£*;
3d mortgage____
5 t1Ve» notdiawn.o ^
Pittsburg Junction—1st mortgage, gold................ c*
Pittsburg < Lake Erie—Stock.....................................
g
lfct mortgage, gold, coupon.....................................
2d mortgage for $2,000,000 (series A), gold.......c
Fittsburg McK. & Yough.—Cons, stock, guar. P&L.E.
1st mortgage, guar, by P. & L. E. and L. S. & M. S..
2d mortgage, for $1,750,000....................................
^McKeesport & Bellevernon, 1st mortgage............
Fittsb. Painesville< Fairport—1st M., goid, int. gu.c*
&
„Terminalmort., interest guar, by Pittsb. & West.
Pitts. Shenango < LakeE.—1st M.for $3,000,000 g.eA
£
Pittsburg Virginia < Charleston—1st mortgage, gold
6
Pittsburg < Western^-1 st M., Pitts. Newcastle & L. E.
£
. 1st mortgage, gold, for $10,000,000........ : ...........c
2d mortgage for $3.500,000, gold......................c*
Foxburg Bridge Co. 1st mortgage, guar...............
Fittsburg Youngstown & Ashtabula—Common stock
Preferred stoek..........................................................
Lawrence Railroad 1st mortgage......................... c
Ashtabula & Pittsburg 1st mortgage..................c*
Consol, mort. (for $4,000,000) s. f. 1 p. c., not dr.c
Port Jervis Monticello < N. F.—1st M. ($10,000 p.m.)
£
78
149
149
149
470
470
468
468
468
8
7Ï
71
62
62
92
63
154
70
226
226
119
119
14
62
119
1882 $ ....
1868
1,000
1876
£200
1885 100 &c.
100
1871
100
1862 500 &c.
1862 500 &c.
1862" 500 &c.
1882
1,000
50
1878
1,000
1889
1,000
1884
50
1882
1,000
1884
1,000
1888
1,000
1886
1,000
1889
1,000
1890
1,000
1882
1,000
1878 500 &c.
1887
1,000
1891
1,000
1882
50
50
1865
1,000
1,000
1878
1887
1,000
1887
1,000
sees keep the road in repair and also pay taxes, expenses, <xc.
The rental and interest charge is about $3,146,053 per year, and the
profit to lessees has been large. The road is now operated -by the
Pennsylvania Company. The Pittsburg Fort Wayne & Chicago leases
the Newcastle & Beaver Valley, 15 miles, and the Massillon & Cleve
land UR., 12 miles, both operated by the Pennsylvania RR.
The first mortgage bonds are in six series, lettered A to F inclusive, of
$875,000 each series, the interest on “A” series being nayable January
;and July; on “ B,” February and August; on “ ~C March and
,
September; on “I),” April and October; on “E,” May and
November, and on “F,” June & December. The second mortgage is
also in six series of $860,000 each, lettered G to M inclusive (J omitted),
and the interest is payable January and July on “ G” series; February
and August on “H” ; March and September on “I” ; April and October
on “ K” ; May and November on “L,” and June and December on
■
“M.” Lessee pays $104,100 yearly to sinking fund, and if bonds
cannot be purchased, funds accumulate. Of the above 1st mortgage
bonds, $1,871,500, and of the second mortgage $2,304,000, and $1,582,543 cash, were held in the sinking funds January 1,1891. The special
Improvement stock is issued to Pennsylvania RR. for improvements,
•& under article 16 of lease, which provides that the lessor may issue
c.,
special bonds or stock. See V. 50, p. 139.
In 1889 gross earnings were $10,862,899; net income, $3,901,661;
profit to lessee, $756,811. In 1890 gross, $12,020,934; net, $4,061,100;
profit to lessee, $915,047. (V. 50, p. 139, 734; V. 52, p. 498, 938.)
P itts b u rg J u n ctio n .—Owns 8 miles of tracks (including sidings,
Ac.) at Pittsburg, Penn., connecting the Balt. & Ohio and the Pittsburg
& Western, which companies in 1882 agreed to pay the Pittsburg
Junction $2 for each car passing over its road. In 1889-90 gross earns.
$218,461; net, $158,616; surplus over charges ana dividend on preferred
stock $14,128. Common stock is $960,000; preferred, $480.000; par
$50. Dividends of 7 per cent have been paid on preferred stock.
P ittsb u rg & L a k e E rie .—Owns from Pittsburg, Pa., to Youngs
town, O., 68 miles; branch line to Newcastle, Pa , 3 miles; total owned,
771 miles; leases the Pittsburg McKeesport & Youghiogheny RR.,
Pittsburg to New Haven, Pa., 57 miles; McKeesport to Bellevemon,
• "28 miles; with branches, 8 miles; total operated, 164 miles. Oper
ated in the interest of Lake Shore & Michigan Southern, which owns
$2,675,696 stock. Dividends 1884 to August, 1891, inclusive,
«6 per cent yearly. In 1889, gross earnings (including Pittsburg Mc
Keesport & Youghiogheny), $3,251,895; net, $847,490. In 1890 gross,
$4,010,587; net, $947,889; interest, $197,997; rental to Pitts. McK. &
Y., $429,228; one half profit on Pitts. McK. & Y. paid to Lake Shore &
Michigan Southern, $106,134; dividends, $212,250; surplus, $2,278.
John Newell, Pres., Chicago, 111. (V. 50, p. 72,174; V. 52, p. 679,974.)
P itt s b u rg M cK eesp ort & Y o u gh io gh e n y .—Owns from Pitts
burg to New Haven.Pa., 57 miles; McKeesporttoBellevernon, 28-miles;
branches, 8 miles; total, 93 miles. Road opened November, 1883, and
leased to Pittsburg & Lake Erie Railroad for 99 years. Rental is 6
per cent on the stock, principal and interest of the bonds being guaran
teed by Pittsburg & Lake Erie and Lake Shore & Michigan Southern com
panies, the guarantees being endorsed on the share certificates and bonds.
Profits to lessees in 1890, $212,269, of which one-half was payable to
the Lake Shore & Michigan Southern.—(V. 52. p. 126.)
P itt s b u rg P a in e s v ille & F a lrp o rt .—Owns from Fairport, 0.»
to Youngstown, O., 63 miles. Operated at cost by Pittsburg & Western»
but interest of bonds is guaranteed. Common stock, $800,000; pre
ferred, $250,000; par, $50. From Jan. 1 to July 31,1891 (7 months),
gross earnings were $168,516, against $158,283 in 1890; net, $643,
against $38,980. In year ending March 31, 1891, gross earn
ings, $293,578; net, $61,440; deficit under charges, $4,978, against
surplus of $36,143 in 1889-90. (V. 52, p. 795.)
P itts b u rg Shenango & L a k e E rie .—(See M a p .) —Owns from
Butler, Pa., to Girard, Pa., or Wallace Junction, 107 miles; branches to
Hilliard, etc., 26 miles; other branches, 21 miles; operates Meadville
Conneaut Lake & Linesville Railroad, Linesville to Meadville, 21 miles;
total operated, 175 miles. Reorganized in October, 1890, after consoli
dation with the Pittsburg Butler & Shenango, the Shenango & Alle
gheny, Erie Shenango & Pittsburg and the Northeastern Ohio. To
retire the old bonds of the consolidated lines and to build the extension
from Greenville to Girard, on Lake Erie, 49 miles, $2,600,000 bonds
have been issued; $400,000 are reserved by the mortgage for equipment
¡and the completion of the line to Conneaut Harbor, a distance of 10
miles. The receiver was discharged May 1, 1891.
From January 1 to July 31, in 1891 (6 months), gross earnings were
$169,114, against $148,437 in 1890; net, $59,914, against $60,619.
In 1890 gross earnings on 83 miles were $262,293, against $239,138
in 1889; net, $103,746, against $89,290. Stock, $3,000,000; par, $50.
—(V. 49, p. 617; Y. 50, p. 771; Y. 52, p. 81, 322, 718, 832.)
P itts b u rg V ir g in ia & C harleston.—From South Pittsburg, Pa.,
to Uniontown, &c., Pa., 75 miles. The stock is $1,805,200 (par, $50),
of which $1,538,100 is owned by the Pennsylvania Railroad, which
pays net earnings as rental, and has pledged the bonds under its col
lateral trust of 1883. In 1890, gross, $1,029,314; net, $332,483.
P itt s b u rg & W e stern .—Owns from Alleghany City, Pa., to New
Castle. Pa., 64 miles; Gallery Junction to Mount Jewett, 139 miles,
<of which 124 miles narrow gauge); branches, 9 miles; total owned, 212
miles. Leases for 99 years Pittsburg Cleveland & Toledo, New Castle
Junction, Pa., to Yalley Junction, O., 77 miles, and the Pittsburg
$2,400,000
4,000,000
6,567,880
10,000,000
19,714,286
14,401,141
5,250,000
5,160,000
2,000,000
1,440,000
4,000,000
2,000,000
1,000,000
4,000,000
2,250,000
900,000
600,000
1,000,000
250,000
2,600,000
3,000,000
219,000
9,700,000
(?)
100,000
1,333,342
1,700,000
310,000
1,500,000
1,562,000
364,000
6 g.
7
6 g.
5 g.
1%
1^
7
7
7
6 g.
3
6 g.
5 g.
3
6
6
6
5 g.
5
5 g.
5
7
4 g.
5 g.
6
3
3%
7
6
5
6 g.
A. & O.
New York.
J. & J. Baltimore, B. & O. RR.
J. & J. Lond’n,J.S.Morgan &Co
F. & A.
New York Agency.
Q — 1. N. Y., Winslow, L. & Co.
do
do
Q-—J.
Various
do
do
Various
do
do
A. & O.
do
do
J. & J. N. Y., Third Nat. Bank.
F. & A. Pittsburg, Co.’s Office.
J. & J.
do
do
A. & O. N. Y., Security & Tr. Co.
J. & .1. N. Y., Union Trust Co.
do
do
J. & J.
do
do
J. & J.
Pittsb’g, Fidelity Tr.Co.
J. & J.
J. & J. N. Y., Mercantile Tr. Co.
do
do
J. & .1.
A. & O. 1st coup, due Oct., 1891
A. & O. (Philadelphia, Penn. RR.
J. & D. Allegheny, Pà.,1stN. Bk.
J. & J. N. Y., Drexel, M. & Co.
M. & N.
New York City.
M. & S. N. Y., Union Trust Co.
N. Y., Farm. L. & Tr. Co.
M. & S.
do
do
F. & A. N. Y., Winslow, L. & Co.
F. & A. Phila., Fidelity Tr. Co.
M. & N. N. Y., Farm. L. & Tr. Co.
New York Agency.
Oct. 1, 1922
July, 1898
Jan. 1, 1926
Feb. 1, 1925
Oct. 8, 1891
Oct. 1, 1891
July 1, 1912
July 1, 1912
July 1, 1912
July 1, 1922
Aug. 4, 1891
Jan. 1, 1928
Jan. 1, 1928
July 1, 1891
July 1, 1932
July 1, 1934
July 1, 1918
July 1, 1916
July, 1916
Oct 1, 1940
Sept. 1, 1912
June 1, 1898
July 1, 1917
May 1, 1941
Sept. 1, 1902
Sept. 25,1891
Sept. 25,1891
Aug. 1, 1895
Aug. 1, 1908
Nov. 1, 1927
Dec. 1, 1927
Painesville & Fairport Railroad. Niles to Fairport, in Ohio, 54 miles,
and Windsor branch, 9 miles; and uses 26 miles of Cleveland Akron
& Columbus; Akron, O., to Orville, O .; also owns entire stock of Trum
bull & Mahoning Railroad, Hazleton to Niles, O., 15 miles; and of Pitts
burg Northern, 4 miles; total operated, 398 miles.
Sold in foreclosure June 8,1887; new company organized June 25 ac
cording to plan in Chronicle, V. 44, p. 370. I n February, 1891, the
Baltimore & Ohio bought $6,050,000 common stock, and on the com
pletion of its Akron & Chicago Junction line it will use the road
as part of a through route to Chicago. The Baltimore & Ohio assumed
$1,250,000 of floating debt and will fund the same into second mort
gage bonds, of which $3,500.000 have been authorized for doubletracking, etc. This second mortgage is a first lien on the company’s
property in Ohio. See V. 52, p. 238, 499, 762.
Stock, common, $7,000,000, and preferred, $5,000,000, 5 per cent
non-cumulative; both in $50 shares. Voting power of stock will be ex
ercised till January 1,1892, by J. Pierpont Morgan, J. L. Welsh and
----------- . For abstract of first mortgage (trustee, Mercantile Trust Com
pany) see V. 45, p. 439. Leased lines are operated at cost and interest
on bonds advanced if necessary.
In addition to the above indebtedness there were outstanding Febru
ary 28,1890, $81,000 of old Pittsburg & Western first mortgage bonds,
due 1900, real estate mortgages for $188,500; car trusts, $427,682.
Guarantees interest on $1,250,000 Painesville & Fairport bonds (see
that company).
From Jan. 1 to July 31, 1891 (7 months), gross earnings on entire
system were $1,244,599, against $1,264,139 in 1890; net, $224,747,
against $453,126.
For year ending March 31,1891, gross earnings of the three roads;
were $2,207,015; net, $718,579; surplus over charges, $30,744, against
$197,843 in 1889-90.—(V. 52, p. 238, 280, 499, 762, 795, 796.)
P ittsb u rg Y o u n g s to w n Sc A s h ta b u la .—Owns Kenwood, Pa.,
to Wampum Junction, Pa., 13 miles; Lawrence Junction, Pa., to Ash
tabula, O., 80 miles; Niles to Alliance Junction, O., 25 miles; Canfield
Branch, 1 mile; total operated, 119 miles. A consolidation of the Ash
tabula & Pittsburg and other roads in 1887. Leased from December 12,
1887, to Pennsylvania Company, rental being net earnings. Stock out
standing—Common, $1,333,342, and preferred, $1,700,000; both in $50
shares. Dividends on preferred stock at rate of 7 per cent yearly since
1887; on common, in September, 1890, 2*2 per cent; in September,
1891, 3 per cent. Bonds of 1887 (trustee, Farmers’ Loan & Trust Com
pany) are reserved to retire divisional bonds. A sinking fund of 1 per
cent purchases bonds of 1887 at par; otherwise payments lapse.
From January 1 to July 31, 1891 (7 months), gross earnings were
$600,238, against $809,033 in 1890; net, $230,324, against $295,256.
in 1889-90. In 1890 gross earnings, $1,376,264; net, $511,818; interest
on bonds, $189,800; additions and improvements, $43,979; dividends
(2*2 per cent on common 7 on preferred), $152,024; surplus, $126,016.
P o r t J ervis M on ticello & N e w Y o r k .—Owns from Port Jervis,
N. Y., to Monticello, N. Y., 24 miles, and Huguenot to Summitville, 18
miles. Was sold in foreclosure July 16,1875, and again in November,
1886, and reorganized. Stock, $409,100; par, $100. In year ending
June 30, 1890, gross earnings were $47,485; net, $5,034; interest,
$21,840; taxes, $4,953; deficit, $21,759. (V. 48, p. 372.)
P o r t R o y a l Sc A u g u sta .—Owns from Port Royal, 8. C., to Augus
ta, Ga., 112 miles. Formerly Port Royal RR., sold in foreclosure June
6,1878. The Georgia RR. was endorser on $500,000 of the old bonds.
The stock is $750,000, par $100, and in June, 1881, Central Georgia
obtained control of the company. The first mortgage bonds are $250,000, redeemable at 105; both firsts and seconds also nave sinking funds.
In year ending June 30,1890, gross earnings were $329,519; net,
$40,350; surplus over interest and sinking fund, $2,630.
P o r t R o y a l Sc W estern C a ro lin a .—Owns Augusta, Ga., to
Spartanburg, S. C., Laurens to Greenville, S. C., and McCormick to
Anderson, S. C., 229 miles. A consolidation in 1886 of the Augusta
& Knoxville, &c. Common stock of $1,234,000 and 6 per cent noncumulative preferred stock $184,000—par of shares $100. The mort
gage is for $2,500,000. Central RR. of Georgia owns $1,578,000 of the
above bonds, $694,000 common stock and all the preferred. In year
ending June 30,1890, gross earnings, $380,291, against $357,946 in
1888-89; net, $9,703.
P o r tla n d & O gd en sbu rg.—Owns Portland, Me., to Scotts Mills»
108 miles. In June, 1886, after foreclosure this company was reorga
nized as the Portland & Ogdensburg Railway. The city of Portland owns
$2,200,500 and the Boston & Maine $395,200 of the $4,237,036 stock
(par, $100). Leased from August 30,1888 for 999 years to Maine Cen
tral for interest on bonds and 1 per cent on stock till August 30,1891,
and 2 per cent thereafter. The consolidated mortgage (Boston Safe De
posit & Trust Company, trustee) was issued in 1888 to extend the road
to a connection with the St. Johnsbury & Lake Champlain, $800,000
being reserved to pay off first mortgage, and bonds being guaranteed,
principal and interest, by Maine Central.—(V. 47, p. 50,161, 278.)
P o r tla n d & R o ch ester.—Owns from Portland, Me, to Rochester,
N. H.,-53 miles. By a settlement in 1881 all the old stock and bonds
were converted into the stock of the new company, of which the Boston
& Maine owns $482,000. Dividends since 1883: In 1884 and 1885, 4 per
cent; in 1886, 5; in 1887, 1888, and 1889, 6 per cent; in 1890, 6 ; in
1891, 6. In year ending Sept. 30, 1890, gross earnings, $235,871; net,
$55,500; surplus over 6 per cent dividend, $19,976,
1 1 2
IN V E S T O R S ’
SUPPLEM ENT.
[ V ol . L i n .
S e p t e m b e r , 1891.]
R A IL R O A D
STOCKS
AND
BONDS.
113
S u b scrib er» w i l l confer a great fa v o r b y g iv in g Im m ediate notice o f any e r ro r discovered In these T ab les.
RAILROADS.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
■ "® explanation of column headings, &c., see notes of
®r
of
* Par
Rate perl When Where Payable, and by Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
_____
on first page of tables.
Whom.
Dividend.
PortRo i/ ¿Angus.—1st M. and 2d M. ,end.byCen.Ga. 112 ’78-’82 $500
aZ
$362,000
6
J. & J. N. Y. Security & Tr. Co 1898 & 1890
General mortgage income bonds, gold................ e* 112 1878 100 &c
1.500.000
6
J. & J.
do
do
Jan. 1, 1899
Port Royal West Carolina—Augusta & Knox. M.c*
68 1880
500
630.000
7
J. & J. N. Y. Security & Tr. Co July 1, 1900
Consolidated mortgage, redeemable at 110 .......c* 229 1887
1,000
6
2.143.000
M. & N. N. Y., Mer. Nat. Bank. May 1, 1937
Portland < Ogdensb.—1stM., g., int. guar. M. Cent.c
&
60 1870 500 &c
6 S- J. & J. Portland, Me.,Cent. RR, July 1, 1900
800.000
Consol, mort.,$20,000p. m.,guar. (Maine Cent.).c 108 1888
1,000
1.008.000
5
M. & N.
Boston, Agency.
Nov. 1, 1908
Portland «6 Rochester—Stock ($600,000)...................
53
100
592,070
3
J. & J.
Portland.
July 15,1891
Portland Saco Portsmouth—Stock (guar, by rental)
51
100
1.500.000
3
J. & J. Boston, East’n RR. Co, July 15,1891
P ortla n d s Willamette Val.—lstM.,g.,red.atl05.c''
30 1886
1,000
400.000
7 g. J. & J. N .Y., Farm. L. & Tr. Co, Jan. 1, 1906
Portsmouth & Dover—Stock, 6 p. c. guar. East. Mass
11
100
769.000
3
&
Portsmouth, Treasurer, July 1, 1891
Potomac Valley—1st mortgage for $2,000,000........
1891
5
& J.
(1)
Jan. 1 , 1941
Prescott < Arizona Centred—1st M., g., sink, fund.c
a
73 1886
1,000
775.000
& J. N. Y., Office, 42 Wall St, Jan. 2, 1916
2d mortgage, incomes paid 2 per ct. Jan. 1,1891
73 1886
1,000
775.000
§*•
& J.
do
do
Jan. 2, 1916
Prospect Park < Coney Island.—lstmortgage.c*&r
&
10 1874
1,000
500.000
7
& J. Brooklyn, 4 Court Sq. Jan. 1, 1895
2d mortgage for $500,000..................... . . 7. .e*&r
10 1886
1,000
420.000
6
P. & A.
do
do
Feb. 1, 1926
10 1891
1,000
96,000
do
do
6 g. M. & S.
Mch. 1, 1931
23 1872
1,000
500.000
7
J. & J. Providence,Am.Nat.Bk. July 1, 1892
.,
,
vi
ixu per cent renta-ij.
51
100
3.500.000
2ifl
Q .-M .
Providence, Office.
Sept. 30,1891
1st mortgage.......................
0*
51 1877
1,000
1.500.000
6
A. & O. Prov.,R. I. Hosp.&Tr. Co. Oct. 1, 1897
<Quincy Omaha < Kansas City—Pref. ist mortgage. 134 1887
£
1,000
250.000
5
J. & D. N. Y., JohnPaton & Co. Dec. 1, 1917
1st mortgage.. . ................ .... ......................7.. . . .
134 1887
1,000
1,489,240
, 4, 5 J. & D.
do
do
Dec. 1, 1917
Raleigh < Augusta—1st mortgage, funding......... o*
&
98 1886
1,000
1,000,000
6
J. & J. Balt.& Phil. Meoh.N.Bk. Jan., 1926
Raleigh < Gaston—1st mortgage............................... c
£
97 1873
1,000
1,000,000
8
J. & J. Balt.& Phü. Mech.N.Bk. Jan. 1, 1898
Reading & Columbia—1st mortgage (extended)..c*
40 1862 100 &c.
650.000
5
M. & S. Phila., Phil.&Read. RR. Mch. 1, 1912
2a mortgage, coupon (extended in 1884)........... .c
40 1864
1,000
350.000
5
J. & D.
do
do
June 1, 1904
■Debentures......................................... ...............c
1877
1,000
1, 000,000
6
Dec. 1, 1917
Lancaster & Reading 1st mortgage....... ............o*
Ï5 1873 100 &e.
350.000
7
J. & J. Phila., Phil.&Read. RR. July 1, 1893
Rensselaer & Sara.—Stock,8p. c. guar. Del. &Hud. Can 195
100
8,831,900
4
J. & J. N. Y., Del. & H.Canal Co. July 2, 189i
1st mortgage, consolidated...............................c*<fcr
79 1871
1,000
2, 000,000
7
M. & N.
do
do
May 1, 192i
Richmond < Danville—Con. M.,g. ,Rich.toDanv. &brs. 152 1874
&
1,000
5.996.000
6 g. J. & J. N. Y., 4th Nat. Bank, Jan. 1, 1915
Debenture mortgage bonds, income cumulative.. 152 1882
1,000
3.368.000
6
A. & O.
do
do
Apr. 1, 1927
Consol. M. g. ($15,000 p.m.)$ or & ($14,500,000)e* 152 1886
1,000
2.970.000
do
do
5 g» A. & O.
Oct. 1, 1936
Equipment Trust bonds, gold, s.f., drawn at 100.c*
1889
1.000
1.348.000
5 g. M. & 8 .
do
do
Sept. 1, 190 9
, T ‘>rJJ ,\d Saco Sc P o rtsm o u th .—Portland, Me., to Portsmouth, n_Kensse*aer & Saratoga.—Owns Troy to Ballston N. Y., 26 miles;
^
fa
T ou •
O ’
™ 68, rt was teased May 4,1871, in perpetuity to the Eastern wmtehiill, N.
to Rutland,
Kanroad, Mass, (now merged in Boston & Maine), at 10 per cent on Vt., 62 miles; Y., to Vermont line, 7 miles; Eagle Bridge miles; total
Saratoga to Whitehall, 39 miles; branch, 3
«took. Lease rental changed May 21,1877, and now 6 per cent
owned, 137 miles. Leases: Albany to Waterford Junction, 12 miles;
.O
*>otomac V a lle y .—This company, controlled by the Western Mary- Saratoga to Schenectady, 22 miles; Fort Edward to Caldwell, 14 miles;
orgaaized to build connecting links between that system and other branches, 10 miles; total leased, 58 miles; total operated, 195
t ^ m ! tlmc\ & ° hl° and Philadelphia & Reading. The charter pro miles. Leased in perpetuity March 1,1871, to the Delaware & Hudson
r.e
vides ior a line (now under construction) from Williamsport to Cherry Canal Company, which owns $1,600,000 stock; rental, 8 per cent on the
oa the B. & O., another from Porters Station, York County, slock and interest on the bonds. Stock authorized, $10,000,000.
From July 1,1890, to June 30,1891, gross earnings were $2,572,192,
Through the city of York to Chickies, on the Philadelphia & Reading’s
against $2,629,546 in 1889-90; net, $963,877, against $1,127,563;
•Columbia branch, etc. (V. 52, p. 121.)
deficit under charges, $136,204, against surplus of $63,404. (V. 50, p.
. J?re.®
co£4 * A rizon a C entral.—Owns from Seligman, on the 245, 707; V. 51, p. 207, 681; V. 52, p. 280, 762; V. 53, p. 224.)
Pacific Railroad, to Prescott, Arizona, 73 miles. Stock,
Central Trust Company of New York is mortgage trustee.
R ic h m o n d Sc D a n v ille.—('.S M a p Richmond <& West Point Teree
F
Per cent of net earnings each year accumulates as a sinking fund; »unaij—The main line owned is from Richmond, Va., to Danville, Va.
ponds purchased, not drawn, at 110. Application to New York Stock 140 miles, with branches, 12 miles; the system proper is 751 miles.
Exchange was given in full in Chronicle, V. 48, p. 223. From Jan. 1 For details see Richmond & West Point Terminal Company.
To July 31,1891 (7 months), gross earnings on 73 miles were $75,017,
In February, 1887, the Richmond & Danville stock was mostly ex
against $73,875 in 1890; net, $37,722, against $48,682. In 1890 gross changed for Terminal in the proportion of four shares of Terminal for
earnings were $134,594; net, $88,269. Office, 42 Wall Street.
one of Richmond & Danville. The stock is $5,000,000 (par $100), of
& Coney Isla n d .—Owns from 9th Avenue and ™ c h $4,976,100 is owned by Richmond & West Point Terminal, and
20 th Street, Brooklyn, to Coney Island, etc., 6 miles. Leases to Coney pledged under its collateral trust and preferred stock agreement.
since 1876—In 1881, 5 per cent; in 1882, 7; in 1887, 3; in
island Point, etc., 3*2 miles; trackage, Parkville to Bay Ridge, 3*2 i
total operated, 13 miles. In August, 1891, a lease to the Long 1888, 5; m 1889,10; in 1890,10; in 1891, January, 5; July, 5.
Of the consolidated mortgage bonds of 1936 $10,720,000 were
island RR. Co. was reported under consideration. Stock is $250,000 ;
par, $ioo. In addition to bonds as above there are $250,000 non-cum- reserved to retire the consolidated mortgage 6s of 1915
uiative 6 per cent incomes due May 1, 1920, which are not secured by and the debentures. The Oxford & Clarkesville 6s, due 1937, have
mortgage The company sold its horse-oar property and franchises principal and interest guaranteed by Richmond & Danville. There are
to the Atlantic Horse RR. Co., and holds a 5 per cent bond and mort- $111,000 Clarkesville & North Carolina 6s (M. & N.), guaranteed, due
§?§® that company for $420,000. In 1890-91 gross earnings were November, 1937. The Washington Ohio & Western 1st mortgage bonds
$ioo,2b7; net, $34,019; net including income from rents, $72,864; aT6; guaranteed as to■principal and interest by endorsement; $100,and taxes, $85,992; deficit, $13,127, against $4,420 000 of the $1,250,000 are reserved to take up Clark County bonds.
1 ®8
^he Washington Ohio & Western for year ending Feb.»
m 1889-90. Total deficit to July 1,1891, $90,471. President, Andrew An -.^ i?1 1
K. Culver, Brooklyn.
28,1891, were: Gross, $150,605; net, $47,647. In 1890 the Richmond
& Danville issued $6,000,000 bonds jointly with the East Term. Va.
__^ rov|deiice & Springfield.—Providence, R. I., to Pascoag, 23 « ^eorgia. (See East Tennessee.) Danville & New River bonds for
miles. Stock is_$517,450 (par, $100), a majority of which was acquired
are
are
an July 1890, in interest of the New York & New England, and road $1,052,000debtguaranteed, $552,000 of whichbe owned by R. & D.
Floating
Sept. 1,1891,
to
leased to that company for 99 years from October 1 at 6 per oent on moml & West Point Terminalwas reportedp. 408.$3,200,000—see RiohandV. 53,
Due from Atlanta &
stock. See V. 51, p. 458. Bonds for $700,000 are to be issued—$500,- Chariotte Air Line for betterments to June 30,1890, $1,183,846; from
■ooo to retire existing first mortgage when due, and $200,000 for an ex- other leased lines $4,109,097.
7 ® ,l0n of 8 miles to East Thompson, Conn. They will be guaranteed
?®
From Jan. 1 to June 30,1891 (6 months), gross earnings on 1,112
by the New York & New England RR. and the city of Providence. In
.year ending Sept. 30,1889, gross, $126,942; net, $39,725; surplus over mjtes were $2,922,000, against $2,730,500 on 1,075 miles in 1890.
oko
duly. 1 to •
Dec' 3l> 1890(6 months), gross earnings were $3,fixed charges, $3,772. (V. 51, p. 458.)
258,495, against $3,021,580 in 1889; net $1,456,689, agst. $1,216,383.
^n**ro^ d e " ce & W o rcester.—Owns from Providence, R. I., to
7
Yea.r ends June 30. Report for year 1889-90 was in Ch ronicle , V.
Worcester, Mass., 44 miles; branches, 7 miles; total operated, 51 miles, 52, p. 163, showing earnings for the system proper (751 miles) as follows.
in May, 1888, arranged to lease road to the New York Providence &
Boston Railroad for 99 years at 10 per cent per annum on the stock, Gross earmngs, including interest on investments................ $5,600,712
^ ndr®ad burned over in June, 1889, extra dividends of 10 per cent being N^earrtoga- ........................................................................... $2,489,261
paid June 29,1889. In 1889-90, gross earnings, $1,523,514; total net tientals, fixed charges, sinking funds and taxes.................... 1,738,397
8UrPtes over charges and 10 per cent dividends
$108,685. (V. 48, p. 829; V. 51, p. 681.)
Surplus........................................................ .............. ............ $750,863
<&uMlcy
& K a n sa s City.—West Quincy to Trenton, 1
11.
la t116 year 1889-90 the gross earnings of all the auxiliary lines
134 miles; trackage (C. B. & Q.), to Quincy, 3 miles. This company is
m^tes) were $7,595,467; net, $1,943,288;
¡-successor to the Qumey Missouri & Pacific sold in foreclosure and reor $676,507, against $491,178 in 1888-89. (V. 51, deficit under charges,
p. 172, 908; V 52 n
gamzed. The stock is $1,489,240 (par $100). In 1890, gross, $265,464:
163,204,351,390; V. 53, p. 59, 408.)
'
’
’ P'
met, $106,658i; rentals and tolls, $27,524; interest, $37,138; better
ments, $22,096; surplus, $19,900. From Jan. 1 to July 31, 1891
^ t e ,lo ‘ l*1 Frederlclcsburg Sc P o to m a c ,—Owns from Rioh
» ° 8-), gross earnings were $141,357, against $135,143 in 1890; net, mond, Va., to Quantico, 79 miles; James River branch, 3 miles; leases
¡$40,600, against $34,582.
Quantico to Junction, 2 miles. There are $83,363 7 per cent debt certiA u g u sta .—Owns from Raleigh, N. C., to Hamlet, N. C., fleates due July, 1899, and $53,512 5 per cent certificates due in 1901
98 miles; Hamlet to Gibson, 10 miles; leases Moncure to Pittsboro, 10 and 1902. In December, 1889, the consolidated mortgage for $2,000,000
miles; Cameron to Carthage, 12 miles; total, 130 miles. Formerly was authorized to provide for prior bonds maturing, for extensions,
Chatham Railroad; now controlled by Raleigh & Gaston (which owns double-track, &c. Dividends of 7 per cent paid on common stock and
®ac£t of the stock and bonds) and so by Seaboard & Roanoke. Stock is dividend obligations in 1888 and 1889; in 1890, 6 ^ per cent; in 1891,
3^. In year ending June 30, 1890, gross
paJ’
year ending June 30,1890, gross earnings, January 2,
net, $81,160; surplus (including other receipts) over fixed earmngswere $709,613; net, $269,369; interest and guaranteed divicnarges, «pit>,4:o3.
dendS’ $79,177; dividends, $144,820; surplus, $45,373. (V. 49, p. 826;
V. 50, p. 312, 520, 904; Vol. 52, p. 39.)
’*
’
R a le ig h & Gaston.—OwnsfromRaleigh to Weldon, N. C., 98 miles
and Louisburg branch, 10 miles. Controls Raleigh & Augusta RR., 108
R ic h m o n d N ich o lasville Irv in e Sc R eattyville.—Line of
miles, and has large interest in Durham & Northern RR., Durham to road—Versailles, Ky., to Beattyville at the Three Forks of the Kentucky
+ 9’’
m^es * an(l with Seaboard < Roanoke controls River, 97 miles, of which 51 miles are completed and in operation and
fc
Carolina, Central; also controls Georgia Carolina & Northern and the remainder under construction. In March, 1890, stockholders of
I
t
H
G
bonds. Seaboard & Roanoke owns $742,200 of I?aeLouisviL leN. Albany & Chicago voted to reject an agreement that
the Raleigh & Gaston $1,500,000 stock; par, $100. Semi-annual divi had been made to guarantee this company’s bonds. See V. 50, p. 484
dends are paid at National Farmers’ & Planters’ Bank, Baltimore, April 770. President, Major J. W. Stine. (V. 50, p. 484, 770; V. 51, p. 609.)
A and Oct. 1. Dividends m 1889,6 per cent; in 1890,6; in 1891, April 1,3
* Petersburg-.—Owns from Richmond to Petersburg,
endmg June 30 1891 gross earnings were $581,893; net,
f
k ¿fn*6
1
?aid’ f 80>
00P 5 dividends (6 per cent) $90,000; sur Va., 23 miles. James River branch, 4 miles. The consolidated mort,
plus, $91,5o0. Total surplus to July 1,1890, $1,521,660. (V.52,p 530 ) gage of 1890 provides for outstanding obligations, double-tracking, &c.
Dividends since 1883—In 1884,1885 and 1886, 5 per cent; in 1887.
]----- d in
- - - - R eaMm g -& C olu m b ia.—Owns from Columbia to Sinking Springs,
; m 1888,1889 and 1890, 7 ; in 1891, January 3, 3 * ; July 1, 3 *2.
2
Pa 13 miles; branches, 13 miles; Lancaster & Reading RR., leased, 15
a.,
. F rom Jnly 1> 1891, to July 31,
(1 month), gross earnings
niiles; operates Marietta Junction to Chickies, 6 miles; total operated $28,362, against $27,866 in 1890;1891 $10,272, against $11,479. were
net,
5 par, $50. The road is controlled and oper’
Fiscal year now ends June 30. In year 1890-91, gross, $325,268 •
^ted by the Philadelphia & Reading (which holds the above debentures)
total net income, $91,177; interest paid, $37,968
but accounts kept separate. In year ending June 30,1890, gross eam- net, $70,420; cent) $70,000. In 1889-90 gross, $325,305; net, : divi
dends (7 per
$100 It3
nei? $84:>
853* interest, rentals and taxes, $137,- 822; total net income, $117,989; surplus over charges and 7 per cent
2987; deficit, $53,133. Total deficit to July 1,1890, $1,177,360. ^
dividend, $19,751.—(V. 50, p. 312; V. 51, p. 143.)
p
114
IN V E S T O -R S ’
SUPPLEM ENT.
[V ol . L lll.
S e p t e m b e r , 1891. J
B A IL R O A D
STOCKS
AND
BONDS
115
Su bscribers w i l l confer a great fa v o r b y g iv in g Im m ediate notice o f an y e rro r discovered In these T a b le s
RAILROADS.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par
Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Richmond < Danville.—Concluded.
£
ïjBhiPHKiiits.f. b°n l8, $2,000,000, g.,sub. to call, o'
<
Northwestern, N. C., 1st M. ($15,000 p. m.) g. gu.c 100
York River & Chesapeake, 1st mortg.
38
2d mortgage, Richmond to West Point, Va.. . . .
38
Stock, guaranteed 6 per cent......................
Wash.Oh.& West. 1st M.,guar.,Alexan.to R. HÛÎ.
50
Income mortgage.......................;•
...........
50
Oxford & Clarksville 1st mort., $Ï5,ÔÔ0 p. in
c
50
Danville & West. 1st M. for $15,000 p. m g
T,
.«
70
Rich. Fred. <t Pot.—St’k,com.($1,071,100 div.oblig.)
Stock, guar. 7 p.c., except $19,300 guar. 6 p c ..
Convert, bonds,$129,150 5s,due 1901,6s&7s,1895
Coup. bonds($4 8,687 are 5s, pay. J & J in London) 79 }
Consol mortgage for $2,000,000. gold..........c*«fer
79
RMh.Nwhol.Irv. <tB.—IstM. ($25,000 p.m.) gold.c*
Richmond < Petersburg—Stock.. . . . . . .
6
' 6
’ 23
Consolidated mortgage ($50,060 are 7sL “ I" ! ***
23
Consolidated mortgage for $1,000,000, gold .c*
27
Richmond < West Point Terminal R. & W. Co.—Stock
t
Pref. 5 p. c stk., cumulative, subject to call at 110
collât, trust bonds, gold, subject to call at 105...
Consol, collateral trust, subject to call at 100. .c*
Rio Grande June.—1st M. for $2,000,000, g. guar.c*
62
Rio Grande Southern—1st M., $25,000p.m., g..c*<fcr
46
Dio Grande Western—Preferred stock.......................
1st trust mortgage, gold.......................................c* 421
Roanolee &South.—IstM., g., $15,000 p.m.,ser.Ä. .c*
1891
1888
1873
1880
$1,000
1,000
1,000
1,000
100
1,000
(?)
& N, N. Y., 4th Nat. Bank, May’92-1906
6 g.
$1,500,000
& O
do
do
Apr. 1, 1938
400,000
i g& J
do
do
Jan. 1, 1894
500,000
6
& N,
do
do
Nov. 1, 1900
497,000
3
& J,
do
do
July 2, 1891
1804
1,000,000
4
& A.
do
do
Feb. 1, 1924
1884
625,000
6
None paid.
1924
1887
1,000
750,000
& N. N. Y., 4th Nat. Bank. Nov. 1, 1937
1891
1,000
1,052,000
& O.
do
do
5 g.
Oct. 1, 1936
100
2,228,200
3ifl
& J. Phila. & Richmond.
July 1, 1891
100
500,400
3^2
& N.
Richmond,
May 1, 1891
1856
144,520 5, 6, 7
& J.
do
do
July’95&1901
58&70
349,687 5 g. & 6
& N. Phila.,Town,Whel; Rich
1901
1890
i,Ò0ò
500,000
4-*2g.
& O. New York or Richmond. Apr. 1, 1940
1889
1,000
1,000,000
& J. N. Y., Bk. of No. Amer. July 1, 1919
6 g.
100
1,000,000
3^
& J.
Richmond, Office,
July 1, 1891
1875 500 &c.
380,000
6 &7
& N.
do
do
May 1, 1915
1890
1,000
300,000
41
2g.
& O. N. Y., Brown Brothers. Apr. 1, 1940
100 70,000,000
100
5,000,000
& J. N. Y., 4th Nat. Bank, July 15,1891
1887
1,000
5,500,000
& A.
do
do
Feb. 1, 1897
6 &
■
1889
1,000 11,065,000
do
Mch. 1, 1914
t g J. & D. N. Y., do
> M. & S.
1889
1,000
1,850,000
Maitland, P.& Co. Deo. 1, 1939
£ g- J. & J.
1890
1,000
1,150,000
5 g.N. Y., Maitland, Phelps July 1, 1940
100
6,160,000
Q .-F . N.Y.,office,32 NassauSt. Nov. 1, 1891
1%
1889 l.OOO&c 14,000,000
J. & J. N. Y., State Trust Co. July 1, 1939
1889
1,000
802,000
I I : J. & J. Balt., Merc. Tr. & Dep. Jan. 1. 1919
,
. .. v U u .unu
w est r u i m t e r m in a i it a iiw a y & w a r e q ??o8e S a ’ T (See Map.)—The, mileage controlled and operated is about
8,558 miles (including water lines) as follows :
R ichmond & D anville System.—Richmond & Danville and Pied
mont Railroad, branches, &c., 220 miles; Richmond York River &
Chesapeake Railroad, 39 miles; North Carolina RaUroad, 223 miles;
Atlanta <cCharlotte Air Line Railway, 269 miles; total system proper
f
™ 1J?*« 8,1 P er5ting leases : Northwestern North Carolina, 100 miles ;
.^
Virginia Midland Railway, 355 miles; Washington Ohio & Western
Kaiiroad, 50 miles; Western North Carolina Railroad, 302 miles ; Chariotte Columbia & Augusta Railroad and leased lines, 363 miles ; Colum
ma & Greenville Railroad, leased lines ana branches, 296 miles ; Richmiles ; Georgia Pacific Railway, 567
mues, Statesville.& western, 20 miles; Oxford & Henderson, 13 milesÎ , 01^ 8^ 6 50 î?Ues: Northeastern RR. of Georgia, 40 miles
/.
darJcsyille & North Carolina, 7 miles. Controls by ownership of stock,
operating separately: Asheville & Spartanburg, 70 miles; Elberton
Air Line, 51 miles ; other lines, 58 miles ; total auxiliary system, 2,572
miles ; total Richmond & Danville system June 30,1890, 3123 miles,
Since acquired, 74 miles ; total, November 30,1890, 3,197 miles.
E ast Tennessee V irginia & Georgia System.—(See East Ten
nessee Virginia & Georgia for details) .—Total East Tennessee system,
including Alabama Great Southern, Cincinnati New Orleans & Texas
Pacific, etc., 2,561 miles.
Central R ailroad of Georgia .—(See that company) 2,361 miles.
W ater Lines.—Ocean Steamship Company, 300 miles, and Baltimore
Ches. & Rich. S. B., 200 miles—500 miles.
In February, 1891, an arrangement was made with the Pennsylvania
RR. Co. for through trains from New York to Atlanta and New Or
leans. See V. 52, p. 322.
™ °SG^N ™ N’ Etc-—Incorporated by an act of the Legislature of
IZ>
Virginia of March 8,1880, and in November, 1886, purchased a large
majority of the Richmond & Danville RR. stock. The Central Georgia
Railroad & Banking Company is controlled by the Georgia Company,
whose entire stock is owned by the Terminal Company; in June, 1891.
c^\L.eorgia FSiCittc leased the Central Georgia. An interest in the Balt.
& Ohio was secured in 1890. (See V. 50, p. 874.) A majority of the
stock of the East Tennessee Virginia & Georgia is believed to be held
in the interest of the company.
Stocks AND B onds.—The preferred stock maybe called for redemption
«J flO. It is secured by deposit in trust of $2,500,000 Richmond & Dan
ville stock.
i Dividends^on preferred stock—In 1887, 2 ^ per cent ; in 1888, 5 ; in
1889, 5 ; in 1890, 5 ; in 1891, Jan., 21 ; in July, 2^.
e
. £ r ce„of common stock—In 1881,122® 174*2 ; in 1882, 23®263; in
i
1883, 21®39 ; in 1884, 12®32; in 1885,
in 1886, 2714 ®
1887’ 203q®53; in 1888, 19®29%; in 1889,19*2®27%; in
r . „ v . 133?® 28l4>m 1891, to Sept. 18 inclusive, 10*8 @19*2. Preferred
in 188?, 43®87i2; in 1888,55® 87*4; in 1889, 76®84%; in 1890, 60*2®
87*3 ; in 1891, to Sept. 18, inclusive, 49*2®76*2.
The securities owned free from any lien on Nov. 30,1890, were as fol
lows:
Stocks.
Bonds.
Baltimore & O. com...
$400,000 E. Tenn. Va. & Ga. Ext.
$100,000
E. TennVa. & Ga.’com. 5,880,000 Oxford & Hend. 1st M.
195.000
Do
1st pref.
500,000 Rich. <cMecklenb. 2ds.
f
160.000
Do
2d pref. 2,311,000 Statesville & West. 1st.
300.000
Oxford & Hend. com..
325,000 Blue Ridge RR___. . . .
299.000
Rich. & W. P. Ter. com.
888,640 State of Georgia 3*28-.
893.000
Statesville & Western.
500,000 Other issues................
1,844
Virginia Midland com.
954,233
368,112
Totalbonds............. $1,948,844
Overissues.................
Total stocks...........$12,126,985 1Tot. of bonds and st’ks.$14,075,829
The 6 per cent trust bonds of 1887 may be redeemed on notice at any
time at 105 (see abstract of mortgage, V. 45, p. 575). They are a first
lien on the following securities:
Rich. & Dan. stock.... $1,760,900 West. N. C. consols. . . . $1,325,000
E, T.Va. & Ga. 1st pref. 6,000,000
do
2d mort___ 4,110,000
Col. & Green, com....... 1,000,000
do
do pref---1,000
Total par value........ $17,296,900
Va. Midland stock....... 3,100,000
o ^ ® 0«iL80L.C0llateral ,trust 5 P©r cent mortgage of 1889 is for $24,300,000 (trustee, Central Trust Co.); $4,000,000 being reserved to retire
pf deemed advisable) $*,000,000 preferred stock and $5,500,000 for
the collateral teust bonds of 1887. The sinking fund of 2 per cent begins
February 1,1898, bonds to be drawn if not purchasable at par, and
bonds may be redeemed at par at any time on one month’s notice.
(See abstract of mortgage m Ch ronicle , V. 49, p. 115.)
The 5s are a secondlien on the securities pledged for the 6 per cent
bonds and on $2,500,100 Richmond & Danville stock,pledged for the
preferred stock, and a first lien on the following:
Georgia Co’y stock___$11,990,000 Ga. Pacific Ry. stock.. $4,370,000
Char.C.& Aug.RR.st’k. 1,300,000
do do income mort. 1,397,666
Va. Midland Ry. stock.
470,000 Ga. Co. 5 p.c. col. trust. 3,447,600
Western N C. RR.,com. 3,160,000 Ash. & Spart. RR. 2d M.
215,000
do
do
pref. 3,160,000
do
do stock. 1,040,000
Wash. O.& W. RR. ino..
$625,000 E.Tenn.Va.&Ga. 1stpf. $2,283,200
do
do stock. 1,500,000
do
do
2dpf. 4,225,000
N’east. RR. ofGa. g’n. M.
315,000 Central RR. & Banking
do
do stock.
120,000
220,000
Co. of Ga. stock........
Rich.& Meck.RR.stock
300,000
Rich.& Dan. RR.stock.
708,100
Total........................ .$40,845,300
In 1890 the company guaranteed $6,000,000 Cincinnati Extension
“
mo wiuimuj
bonds, issued jointly by Richmond & Danville and East Tennessee, Vir
ginia, & Georgia and secured by deposit of the stock purchased in ob
taining control of the “ Erlanger” roads.
E arnings , F inances , E tc .—In September, 1891, it was reported that
a plan was being perfected for taking care of the floating debts of the
several companies of the system. It is stated that the floating debt of
the Rich. Ter. is $530,000; of the Rich. & Dan. $3,200,000; of Georgia
Central, $3,800,000, and of the East Tenn., $1,400,000. The plan most
nkeiy to be adopted, it is said, is to issue $10,000,000 collateral trust
notes, to be secured by securities now held by the various companies-L notes are to be divided into classes, keeping eacb company's secur
116
ities and debts distinct from those of the others. These notes will bfr
^aranteed by the Rich. Ter. Co. The debts of the other roads, it is re
ported, will be arranged in a similar way.—(V. 53, p. 408.)
From July 1,1891, to July 31,1891 (1 month), gross earnings on the
Richmond & Danville system 3,120 miles, including Georgia Pacificwere $1,138,283, against $1,021,156 on 2,981 miles in 1890; net, $361,442, against $292,782. On the Central of Georgia for same period (1
gross earnings, excluding water lines, were $496,982, against
$416,641; net, $115,364, against $46,655.
&
year ending June 30,1890, the earnings of the lines con
trolled (8,312 miles) were $41,361,095, against $35,596,983 on 7,817
miles in 1888-89; net, $13,132,903, against $11,699,512; surplus over
charges, $2,495,717, against $2,265,067.
The annual report for year ending November 30,1890, was given at
length in V. 51, p. 828, 878; see also page 853.
INCOME ACCOUNT YEAR ENDING NOVEMBER 30, 1890.
Revenue—
Expenses—
Divs. Rich. & Dan........ $497,810 Int. 6 per cent Col. Trust $330,000
Divs. E. T. 1st pref.......
448,320 Int. 5 per cent Col. Trust 412,650
Divs. Cent. RR. of Ga..
328,800 Interest on Ga. Co. 5 per
Int. E. T. 1st mortgage.
7,500
cent Col. Trust...........
28,100
Various coupons............
141,000 Divs. on pref. stock......
249,847
Interest and discount..
118,025
Gen. and legal expenses
74,476
T°*a| y - - -................ $1,423,430
Total............................ $1,213,099
Netfor year.................................................................. . ........ $210,330
~(Y-50i P-245, 771, 834; V. 51, p. 788, 828, 853, 878, 877; V. 52, p .
280, 322, 462; V. 53, p. 96, 224, 256; V. 53, p.408.)
R io G ran d e J u n ctio n .—Owns standard-gauge road, completed
in September, 1890, from Rifle Creek, Col., on the Colorado Midland
and the Denver & Rio Grande, to a connection with the Rio Grande
Western at Grand Junction, 62 miles. This is a connecting link in the
standard-gauge route which was opened in November, i890, over the
roads above named, between Ogden and Denver and Colorado Springs.
Leased jointly by Colorado MicQand and Denver & Rio Grande, which
companies guarantee the bonds, principal and interest. Concerning
bonds see V. 51, p. 830. Stock is $2,000,000; par, $100. (V. 51. p.
829,830; V. 52, p. 204.)
'
*v
B i o G ran d e Southern.—(See Map Denver < Rio Grande.)—Under
6
construction from Dallas, Col., on the Denver & Rio Grande, southerly
i? i ' u. a?,& 164 miles, narrow gauge. To be completed in 1891.
r
°>.
Built in the interest of the Denver & Rio Grande, with whose narrowgauge lines it will connect. Mortgage (trustee, Central Trust Company
of New York) is for $5,000,000 at $25,000 per mile. (See V. 51, p. 143;
V. 52, p. 322.)
R io Grande W e ste rn .—i See Map. ) — L ine of R oad —Owns Cre
vasse, Col., to Ogden, Utah, 310 miles, to Alta, Bingham coal mines, etc.,
51 miles; San Pete branch, Thistle to Mante, 60 miles; Sevier Railway
(proprietary hne—all securities owned), Mante to Salina, 26 miles;
total owned, 446 miles. Leases Crevasse to Grand Junction, 18 miles.
Yota*operated,_
miles,of which460 miles standard gauge. Aline
to the Tintic mines, 44 miles, is being built in the interest of this com
pany by the Tintic Range RR. Co. See V. 53, p. 59. The Rio Grande
Junction Road, 64 miles, opened in November, 1890, affords a through
connection of standard gauge to the Denver & Rio Grande and the Colo
rado Midland.—(See V. 51, p. 680.)
This company was formed in June, 1889, to succeed the Denver & Rio
Grande Western, pursuant to the plan of March, 1889, for widening
gauge and retiring old securities with new issues. See V. 48, p. 429.
The report of the reorganization committee issued in June, 1891, and
published at length in the Chronicle , V. 52, p. 941, gave a full account
of the improvements on the property since April, 1889. See abstract
of mortgage (Central Trust Co., trustee) in V. 49, p. 237, and statement
to New York Stock Exchange in full in V. 50, p. 73. Common stock
is $7,500,000; preferred stock authorized, $7,500,000; outstanding,
$6,160,000; par, $100. Preferred stock is entitled to 5 per cent dividend,
non-cumulative, then common stock to 5 per cent, after which both
classes of stock share equally.
An increase in preferred stock from $5,000,000 to $6,250,000 was
authorized in April, 1891, the new stock being taken by stockholders at
BuffalojGap
I
afceïla
■m ;
o erica
Fail!
M A P
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T H E
A
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1
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m
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sc
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.! RAILROAD & CONNECTIONS
\
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SUPPLEM ENT.
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ver Jo.
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o
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VC
,1 1
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>chard
■■
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Miami
¿Wingate
Grants
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Patarao ^ /
VinitaJ
M A N
S e p t e m b f r , 1891.]
K A IL R O A D
STOCKS
AND
BONDS.
117
Su bscribers w i l l confer a great fa v o r b y g iv in g Im m ediate notice o f an y e rro r discovered in these T a b le s
RAILROADS.
on first page of tables.
Both, dt Genesee Fai.—Stock, 6
B o c k Island &Peoria—Stock.
& R.,Rom© to Cape Yin.,8.f.,not dr’a.©”
1st M., Wat.,to Ogd. & Nor’d, s. f. (2d M. on 95 m.).
2d mortgage (3d mortgage on 95 miles).............ca
Consol, mort. (extended July, 1882, at 5 p. e.) .cl
Syracuse Northern 1st mortgage (gold)............. c”
Oswego bridge and Syr. Ph. < Os. 1st mortgagee
fe
Norwood & Montreal 1st mortgage, gold..............
R. W. &_Og. Term. RR. Co. 1st mortgage, guar..c*
uwca&Bl. Riy. st’k,7 p. c. perpet.gu.by R.W.<&0.
_ Consol. M., Utica to Ogdens. <¡branch, g., guar.c’
Rutland^-Stock, preferred........
Saginaw Tuscola & Huron—1st mort., $5,000 p. m.c
Saginaw Valley < St. Louis—1st mortgage_______c
6
St.Johnsbury < Lake Champlain—IstM........... c&r
£
Consolidated mortgage (for $ 1 ,000 ,000 )........... c
Bonds for $2,500,000..............................................
St. Joseph < Grand I.—1st M.,g.,int.guar. by U.P.c’
e
2 d mortgage, income, gold.................................. o’
Kan. C. <cO. RR. IstM. ($15,000p.m.)g.,int.gu.c*&r
f
at. Louis Alton < Spring.—1st M., g. ($12,000 p. m.)c*
£
2 d mprtgage, gold................................ ....................
St. Louis Alton «£Terre Haute—Pf. stock(7 cum.),con.
1st M. (ser. A.«fcB.,each$l,100,000),s.f..not dr’n.c*
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per
of
of
Par
When
Road. Bonds Value. Outstanding Cent. Payable Where Payable, and by
Whom.
18
$100
3
$555,200
J. & J N.Y.jby N.Y.L.E.«feW.Co
113
1,500,000
2 ^ J. & J. N. Y., Com Exch. Bank,
91 1878 25,000
150,000
10
J. & J,
do
do
113 1885
5,000
450,000
6
J. & J.
do
do
100
7,668,100
Q.—F. N. Y.,Grand Cent. Depot
97 1855 100 «fe .
e
417,800
6
M. < S.
fe
do
do
190 1881 500 «fe . 1,021,500
e
7
J. & D.
do
do
190 1872
1,000
1 ,000,000
7
J. & J.
do
do
409 1874
1,000
6,989,000
5
A. & O.
do
do
45 1871
1,000
500,000
7
J. & J.
do
do
18 1885
275,000
6
F. & A.
do
do
13 1886
130,000
A. & O.
do
do
14 1888
1,000
I e- M. < N.
325,000
fe
do
do
150 ’68-71
100
3% M. & S.
1,103,000
do
do
36 1874 500 «fe .
e
7
500,000
J. < J.
&
do
do
16 1873 500 «fe .
e
200,000
7
J. « J.
fe
do
do
150 1890
1,000
1,300,000
J. & J.
do
do
120
100
I g
<
4,239,100
Rutland, Clem. Nat. Bk,
120 1872 100 «fe .
e
1,500,000
6
M. & N. Bos.,Globe NatBk.&Rut
120 1878 100 «fe .
e
1,500,000
F. < A.
fc
5
do
do
120 1891
1,000
(?)
J. & J.
New York City.
67 1881
1,000
190,000
6
M. < S.
&
New York City.
36 1872
1,000
446,000
M. < N. Boston, Second Nat. Bk.
fe
8
120 1880
1,000
550,000
f
Tr.
6 £• A. <c O. Boston, Am. L. <& Co.
120 1884
1,000
91.000
5 &6
Various
Boston.
120
4
(?)
252 1885
1,000
6,998,000
6 g. M. & N. N. Y-, Central Trust Co.
252 1885
1,000
1,679,000
J. & J. Last paid July 1887.
£ g- J. <e J. N. Y., Central Trust Co.
196 1887 500 «fe . 2,713,000
e
f
87 1887
1,000 As collateral
fe
i f : M. « S.
New York.
1889
As collateral
io’o
1.655,800
I s207 1862
1,000
2 .200,000 1
7
J rem.) N.Y., U. S. Trust Co.
See
Bonds—PrinCi'
pal,When Due*
Stocks—Last
Dividend.
July 1, 1891
July 1, 1891
Jan. 1, 1900
Jan. 1, 1925
Aug. 15,1891
Sept. 1, 1910
Dec. 1, 1891
Jan. 1, 1892
July 1, 1922
July 1, 1901
Feb. 1 , 1915
Apr. 1 , 1916
May 1 , 1918
Sept., 1891
Jan. 1, 1894
July 1, 1898
July 1, 1922
July 1, 1891
Nov. 1, 1902
Aug. 1. 1898
July 1, 1941
Sept. 1, 1921
May 1, 1902
Oct. 1, 1910
Apr. 1, 1914
May 1, 1925
July 1, 1925
Jan. 1, 1927
1918
June 1, 1909
Jan. 10, 1889
July 1, 1894
the rental $370,000 per annum, payable monthly in gold. It is said the
net income of the company after deducting charges will for the present
be sufficient to pay 4 per centum per annum on the preferred stock
and after the funding of the existing mortgages has been completed
there should remain applicable to dividends a sum equal to 5 per centum
0^_tbe present preferred capital. As to lease, etc., see V. 53, p. 124.
The 5 pet cent second mortgage bonds are a first mortgage on rolling
stock and personal property. A consolidated mortgage for $3,500,000
189° ' * °® 55; 11 18M- *° Sept. 18 has been issued to provide for the retirement of prior liens, when diie
for equipment and
Del < Hud
&
1891, to Sept 30,1891 (3 months), gross earnings (Sep andowns $3,000,000 improvements. See V. 53, p. 124. The $2,480,600
son
preferred
of the
estimated) were?$722,000; nei, $304,000; fixed charges common stock, par $of the Dividendsand $1,000,000stock since 188O
100 .
on preferred
r—
$158,000; dividend on pref., Nov. 1, $78,000; surplus, $ 68 ,000 .
duly 1,1891, to July 31,1891 (1 month), gross earnings were iooi88,1,’ 1*2 per cent; m 1882, 2; in 1884 and 1885, 1; in 1886 and
1; in 1889, 1^; in 1890, January, 1 ; July?“ ;
$249,556 against $174,122 in 1890; net, $103,971, against $69,982 t£«Z’
940; Vb53 3 p
?891’ July X» 2- < - 51> P- 910; V. 52, p. 41, 239’
v
Mileage, 446 miles, against 376 miles.
’
Fiscai year ends June 30. Statement for 1889-90 was in Chronicle,
V. 51, p. 275, ahd for 1890-91 in V. 53, p. 324.
S t.L o u ls.-O w n s from Ithaca to Pains, Mich.»
ob niiie8, and leases Alma to St. Louis and Pains to Sasrinaw. 9 miles»
1889-90.
1890-91.
369
Mileage.. . .................................................
January> 1873* Stock authorized, $300,000
404
outstanding, $264,804; par, $100. In 1890, gross, $103,706; net, $49,Gross earnings.......................................
$1,622,234
$2,346,130
lotal net income .......................................
520 686
856,783 385, rentals, $7,000; interest, $35,680; surplus, $6,705. Deficit under
Deduct—
interest m 1889, $3,369. Controlled by Detroit Lansing < Northern.
&
Interest on bonds...................................
393,500
535,500
« ^ ^ n s ^ u r y & L ake C b a m p la in .—Owns from Lunenberg,
Rental and miscellaneous.................
11143
15,144
k
Dividends..........................
255,369 vb+n . w ^ a£ itayi 0 ^ Lax £ Champlain, 120 miles, and branch from
V ^ Ea8t Haven, 11 miles; total, 131 miles. This was
Surplus.................................................... $116,043
$50,770 tne Portland & Ogdensburg, Vermont Division, reorganized under
w ewnnoA 6 T 18. 0’ Preferred stock, $1,298,500; common stool?
lnD
49-P -23,115, 208, 580 ; V. 50, p. 73,276, 422, 577, 801 ; V. 51. p $2,550,090. In-September, 1890, $2,500,000 of 4 per cent bonds were
207, 275. 680, 788; V. 52, p. 126, 499, 574; V. 53, p. 59,187, 324, 408.)
oot0 Aund ?°5'tlng ^ebi> whioh on June 30,1890, amounted to
O v e r fe d by Boston & Maine. In year ending June 30,
„.R ®a1 ° k e & Sou th ern .—In operation from Winston-Salem, N. C.,
n
A riV
O gr«qft
^395,815;
on Cap6 Fear « Yadkin Valley Railroad to Martins- deficit, $36,761; total deficit to Julynet, $11,748; interest, «fee., $49,164;
fc
1,1890, $401,679. (V. 5i, p. 3 4 5 .)
T ? „ ’«r
J,a’’
miles. Under construction from Martinsville to Roanoke,
St. Joseph & G rand Isla n d . —(See Map o f Union Pacific.)—
In ^ i
in December, 1891. Projected also
southerly to South Caroima State line. The first mortgage (trustee . i f rn?F i?£ADT 8 t^J?,seph Mo->to Grand Island^Neb., 252 miles; Kan
>
&
Mercantile Trust < Deposit Co., of Baltimore) is in three series, each sas City < Omaha Railroad, Stromsburg to Alma, 151 miles, and McCool
&
f
senes having a first lien on one division of the road and a second lien Junction to Kansas City <eOmaha Junction, 44 miles; total, 447 miles.
f
on the two other divisions under the mortgage. Series “ A ” Successor of the St. Joseph <eWestern, sold in foreclosure in 1885. Oper
fnareTa
r
mortgage on road from Winston-Salem, N. C. to Mar- ated by the Union Pacific, which owns $2,301,500 of the $4,600,000
stock (par, $ 100 ), and guarantees the interest on the first mortgage
6? mile8- 8 2 % . “ B ” on r°ad from Martinsville to
: <
f
h
62 miles; series “ C ” on projected fine to South Carolina ^crids. Kansas City <c Omaha bonds have interest guaranteed by St.
&
State line, about¡58 miles. Capital stock authorized $8,000,000; out- Joseph < 'Grand Island and Union Pacific under a perpetual agreement
standmg $974,000 ; par of shares, $100.
’
cpe^I^gtheroad The Union Pacific owns $1,182,500 bonds and
25-375 of the $4,438,100 stock of the Kansas City <c Omaha,
f
* TGenesee V a lle y.—Owns from Avon to Rochester.
ooo rrivO PplL & Grand Island owns $413,000 of the bonds and
S
R e n t a l« ^ mo leased July1,1871, m perpetuity, to Erie Railway. $1,0^2,500 stock.
Rental, $34,012. James Brackett, President, Rochester, N. Y.
,,? ? 0IV aimary
31, 1891 (7 months), gross earnings on
T1 2
1R
?
& P e o r ia .-O wdsfrom Rock Island, IU., to Peoria,
“ ‘i®8 were $435,792, against $856,670; net, $70,950, against
1 1 3 9Ì ì w
i
+ ^ ° ^ l8iand * ] ier«er County Railroad, 22 miles; total,
V
gr<?8® earnmgs, including K. C. <eOmaha, $1,253,f
rl^m ues. The Peoria <eRock Island was sold in foreclosure April 4,
f
it>oo5 ,4 5 4 ; total net income (including amount received from
i ncZ’JSoÌolders; In year. 1889-90 gross earnings were $655,Facihc ander traffic agreement, etc.), $447,538; interest on
1
1
8,. rPlus over interest, taxes, «fee., $285,584: divi boncls, $420,00° ; corporate expenses, $2,196; due K. C. « Omaha
l
&
dends, $75,000. President. R. R. Cable.
q>*oo,oou, uivi
under traffic agreement, $83,125; deficit for year, $57,783. In 1889,
i
w
e£*OW,£ ^ O gdensburg.—fSee Map Hew York Cen- fZIw 8w 1t t 8 i ne*’ $460,204; total net income (including amount
paid by U. P. under traffic agreement, etc.), $444,232; surplus over
MaLen^Ror?o«r/e N. v^M QoiW '_ 0 less
4Z
?^1
1
near Niagara to East
Massena Springs, T r Y.. T299 miles, Y1 8 28 miles, Richland Falls to
^22,160; duo Kansas City <e Omaha on traffic agreement,
f
Oswego, leased from the Oswego <eRome RR. ; Richland to Rome limile?- $60,214; balance, deficit, $38,054. (V. 51, p. 5704
f
♦«fJwT68 *5
v lnoenl> Ogdensburg, Pulaski, Fulton, etc., 109 miles ’ 8 Si*n °“ iL
in g f
d . —Owns Bates, Ul., to
total owned, 421 miles. Leases Utica < Black River Railroad Utica tei hv Z ^ i ri f ^ S p r « ^r£tck i e lSpr,ngfleid 13 miles, but Alton, 111.,
fe
t aH
as^
4o
>
road to be
Ogdensburg, and Clayton branch, 150 miles ; Oswego <cRome’Railroad built to that point. In October, 1890, Joseph Dickson of St. Louis was
f
riQ^rt,°ve’ +8 ISlle,8 ! .Carthage Watortown <eSackettfs Harbor Railroad nniw.* cd recelve^ an(I . n December he was permitted to issue $300,f
>
l
Carthage to Sackett s Harbor, 30 miles ; trackage—to Niaaara Palls 2 000 of 6 per cent reoeiver s certificates, payable in one year. See
miles ; Fulton to East Oswego (New York Ontario A WesternRailway?
fn
o oJgani5atl011, 18 J r°POsed. First mortgage bonds
>
^ m d e s ; total leased, 222 mites Total operated” 643 miles Railway) r ,V«1 onn aaa a?3 e m?rtgage bon<m for $300,000 are outstanding as
- n i l P
d 2'I
In March, 1891, leased during the full term of its corporate existence ® Pat®rak Stock authorized, $1,500,000; par, $100. Trustee of mort®
and renewals thereof to the New York Cedrai <e Hudson River^RR6 gag® F^mers Loan & Trust Company. In year 1889-90 gross earnings
f
’
Co-. which assumes the debt and guarantees 5 per cent on the” stock' were $115,712, net, $8,184. (V. 50, p. 632, 669; V. 51, p! 570, 830.)6
The stockholders received a stock dividend of 20 per cent For wording
Jl0?!?, Af*01* < Terre H a u te .—Proprietary line, East St.
fc
T ^ T T t V'i5Ì>•
P‘
8t° ck authorized $10,000,000.
8 t
I * ™ * ™ - ,Leases: Belleville <e Southern IlUnois
f
7 ne? iW t
is lea8ed to perpetuity, interest on bonds and
Belleville to Du Quom, 111., 57 miles; Belleville < Eldorado
&
bonds of Ìs on 8™ck belllg guaranteed The consolidated mortgage
Eldorado, 50 miles; Belleville < Carondelet RR.,
fc
totoe8t'
to East Carondelet, 17 miles; St. Louis Southern, Pinok/-'arj 3°o <
Iale ,Ill;, 31 miles; Carbondale < Shawneetown,
&
-to February, 1891, both inclusive, at rate of 6
^roondale to Marion, 1 7 miles; Chicago St. Louis <c Paducah, Marion
f
per cent per annum 5
20 Pe r °
Pot cent
guaranteed. ent m stock ; in May and thereafter 5 to Paducah, and branch, 53 miles; total operated, 242 miles.
In October, 1890, the main line from East St. Louis, Ul., to Terre
aQ toeludedin those of the lessee. From July 1, 1890, to
«®
*2 945 250 In i1
S«StQo)’
W
8 were $2,804,258, against leased to the189 miles, and branch, 4 miles, which had theretofore been
Cleveland Cincinnati Chicago <e St. Louis, were sold to
f
*4.945,259 in 1889-90; net, $1,218,106, against $1.333 139 Surnins
over charges, $473,187, against $587,366 in 1889.
surplus toat company for $10,000,000 of 4 per cent 100-year gold bonds. See
’ •ux, p. D 1X4, 000 , 494.
Jjf
ininm ?r in& o a ne 30, i1890, grol 8 earnings were $3,904,966; net
«e
Ì& 1P “ I»w6*028; surplus over fixed charges $641 405
S2P »
The.®
.ale °f the main line did not affect the status of this company’s
securities.
$250,000 were placed
I l f 7932)Ìn 1888* 9' <V 51’ P- 2° 7’ 24M 8 l f v :
6
32T Ì 63! m a sinking Of the $10,000,000 bonds received, purchased, not drawn,
fund for the issue itself (bonds to be
R u tla n d .—Owns from Bellow’s Falls, Vt., to Burlington Vt 120 ator under 105), and $7,000,000 are reserved to retire the bonds ma
at
^ o o ™ 8 0al ka8 T
/
een torough many changes. In 18§0 a new lease turing in 1894. Of the $2,750,000 bonds immediately of the disposal of
were offered to the holders
preferred
m L +9? i , / ear*
January 1, 1891, was made to the Central Ver- the company, $2,500,000retire all but $800,000 thereof the the rate of
stock, being sufficient to
at
^ <D 0 o
5 o knnn6.iltal bemg $345,000 per annum; this will be increased by
$25,000 per annum as new equipment and other permanent improve $150 in bonds for $100 of stock. To May 22? 1891? $812 600 of nrl?
ments are put upon the property during the n e x f S years™ aktag ferred stock had been retired in this way, leaving $1,528,000 bo^ids
in the company’s treasury. See Y. 52, p. 42, 81, 351, 499 .
8
ment increased terminal facilities, etc. See V. 52, p. 499
ends °n Preferred stock—A dividend of 2** per cent in preferred
oMUnflr ^ ai^ ebriliS ’ 18*91’ andjthe first quarterly cash dividend
ol l x per cent May, 1891; Aug. 1 also paid l 1 Nov., 114. See official
4
!;
statement on declaration of May dividend in V. 52, p. 499
inclusivef 2 3 @ 4 f ° n stook~ In 1890’ 15 ® 2478 ; in 1891, to Sept. 18
IN V E S T O R S
118
S u b sc r ib e rs w i l l c o n fe r a g r e a t f a v o r b y
SUPPLEM ENT.
[V ol . L lil.
iv ln g im m e d ia t e n o tic e o f a n y e r r o r d is c o v e r e d i n th e se T a b le s ,
Ronds—Princi
INTEREST OR DIVIDENDS.
pal, When Du®.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
of
Dividend.
Outstanding Cent. Payable
For explanation, of column headings, «fee., see notes
whom.
Road. Bonds Value.
on first page of tables
St. Louis Alton < Terre Haute—( OoncindcdJ
ê
2dmort.,pref.(series C <eD,each $1,400,000) .c
f
2d mortgage, incomes -----------.- - - - - - -• ■ - *-c
Dividend bonds, income (see Y. 48, p. 489)-----.
Belle. & So. Ill—1stM. (int.guar.) s.f.,not drn.c
Belleville <cCarondelet, 1stM.,Belle.toE.Caromc
f
Belleville & El Dorado—1st (infest guaranteed) c^
_
2d mortgage_ i................................................. 9,
St. Louis Southern—1st mort., gold, int. guar. - .c
2d mortgage, income, non-cumulative...........c
Carhondale <eShawneet’n 1st M., g*»iht. guar.c
f
Chic. St. L. & Paducah 1st M., g.r d at 105 guar.o^i
2 d mortgage, gold, income (non-cumulative). c i
St. Louis d Ocnro—1st mort. int. guar. M. & O., g..c
k
St. Lou. Gape Girard’u < Ft. Smith—
£
Old div. bonds
Cape Girardeau S.W. consol, mortgage..........
Arkansas Extension l 8t m o r t g ^ e .........e &r
St. L. Cape Gir. & Ft. S. gen. M. for $7,500,000 g. - St. Louis Merchants’ Bridge Terwunai.—1st mort.. c
Merch. Bridge 1st M., red.after Feh.l, 1909, at 110
St. L. & San Fran.—See Atchison T. & S. Fe system.
St. Louis Southwestern—Common stock.. . . . . . . . . . . .
Preferred stock (5 per cent non-cumulative).......1st mort, certificates, $16,500 p..m., g old........o
2d M.income cert., for $ 10 ,000 ,000 ,non-cum.,g.6
Car trusts........................... - - - — -..............
St. Louis Van. < TerreH.—1st M., s.f. guar, not dr.c
&
2d mort., sink, fund, not dr’n ($1,600,000 guar.). o
207
207
"56
16
50
50
31
31
17
53
53
161
Ï02
65
167
See rem. N. Y., TJ. S. Trust Co.
7
1862 $1,000 $2,800,000
do
do
M. & N.
7
1.700.000
1,000
1862
June 1
6
1.357.000
1,000
1881
A. < O. N. Y., State Trust Co.
fe
8
1.030.000
1,000
1866
do
do
J. & D.
6
485.000
1,000
1883
do
do
J. & J.
7
220.000
1,000
1880
do
do
IF. < A.
fc
6
330.000
1,000
1880
do
do
.
550.000
4 g- |M & S.
=
1,000
1886
do
do
M. & S.
5
525.000
1,000
1886
do
do
250.000
1,000
4 g. M. & S.
=
1887
do
do
fe
1, 000,000
1,000
5 g. M. « S.
1887
do
do
fe
1,000,000
5 g. M. « S.
1,000
1887
&
fe
4.000.
000 4 g. J. « J. N. Y., Farm. L. < Tr. Co.
500 «fe
e
1886
N. Y., Coffin < Stanton,
&
M. < S.
fc
6
111.000
1880-5
do
do
fe
6 g. M. « S.
889.000
1,000
1888
do
do
J. « J.
fe
6
175.000
1,000
1890
do
do
fe
2.500.000
6 g. J. « J.
1,000
1891
New York <e St. Louis
f
A. <e O.
f
5
1.750.000
fe ,
1890 500 « o
F. < A. N. Y., Farm. L. <feTr. Co
&
6
2.000.
000
1,000
1889
100
100
1891
1,000
1891 500 «fe .
o
158
158
1867
1868
1,000
1,000
16,500,000
20 , 000,000
20,000,000
8,000,000
602,849
1.899.000
2.600.000
July 1, 1894
July 1, 1894
After Jan. ,’94
Oct. 1, 1896
June 1, 1923
July 1, 1910
Aug. 1, 1920
Sept. 1, 1931
Sept. 1, 1931
Mch. 1, 1932
Sept. 1, 1917
Sept. 1, 1917
Jan. 1, 1931
Sep.1900-1-2-5
Sept. 1, 1908
Jan., 1910
July 1, 1919
Oct. 1, 1930
Feb. 1 1929
4 g. M. & N, N. Y., Central Trust Co. Nov. 1. 1989
4 g. J. < J After ’90, when earned. Nov. 1, 1989
&
1891 to 1897
J. < J. N. Y., Central Trust Co, Jan. 1, 1897
fc
May 1, 1898
do
do
M. « N.
fe
road at not over $15,000 per mile, and for improvements upon the pre
sent line at not over $3JH)0 P©r mile. There are i
$150,000 7 per cent incomes. In 1890 grossi earnings, $165,807, net,
$85,677; in 1889, gross, $146,507; net, $76,431. President, Louis
“ i S e r e K 'l e t mortgage, eerie» “A,”
Houck, Cape Girardeau, Mo.
“ B,” April and October; on 2d mortgage, senes O Febmaryjana
,,
St. L o u is Ir o n M o u n ta in & Sou th ern .—See M issouri P acific .
August* series “D,” May and November. Hoi iers of the St. Louis -Alton
& Terre Haute 7 per cent bonds have the tight at stockholders meetSt. L o u is M erch a n ts’ B rid ge T e r m in a l.—This company
lngs to cast 10 votes for each of their $ l, 0 w) bonds.
qqq has under construction a double-track railroad m the city of
The Belleville & Southern Illinois is leased to this company for 999 St. Louis, extending from near the Union Depot on 12th
vears from October l “ 1866: Lease rental 40 per cent of gross earnings Street, Hall Street, «fee., to Ferry Street, opposite the
up to $7,000 per mile (except on coal, <fec.). 30
I ’ qoo etc. It leases the Merchants’ Bridge, agreeing to pay the interest on the
and up to $14,000 per mile, and 20 per emit on
e^ e®88
Bridge Co’s $2,000,000 bonds; it owns and controls the Electric City «^
per mile. Interest on bonds and sinking fund of $5,000 per year guar Illinois RR., connecting the town of Madison and East St. Louis, and
it leases the Venice & Carondelet Belt RR.,
^Common stockof Belleville <eSou th ern n U n oisis^30,000an dp^ around East St. Louis. Extensive yards and terminal facilities will be
f
ferred $1,275,000, and dividends on
| q85^ § maintained in St. Louis and East St. Louis. The mortgage J f foc $3,
hnpin vPo in 1881: 5 ^ in 1882; 6*4 in 1883 ; 5 ^ in 1884, o m lo oo , o 500,000 to the St. Louis Trust Company, and covers all the
in 1886; 6 % in 1887; 6 % in 1888 and 1889; in 1890, May 4 ;
^25: the company. Stock authorized, $3,500,000; outstanding, $L001,100 ,
The Belleville <eCarondelet is leased for 983 years from June, 1883-at par, $100. General office, St. Louis, Mo. C. C. Rainwater, President.
f
a rental of $30,000 per year, which is a gu^anfre of interest <m the
St. L o u is & San F r a n c isc o .—See A tchison T opeka < Santa Fe .
&
bonds, the stock of $500,000 being owned by the SLL. Alt. & T. H.
L o u is So u th w estern .—Road extends from Bird’s Point, Mo^,
The BelleVille <eEldorado is leased for 985 years from
f
opposite Cairo, 111., to Texarkana, Tex., 418 miles, and thenae by
nt. a rental of 30 ner cent of the gross earmngs, but $15,400 per year
miaranteed. 1 Stock $1,000,000; par, $100. The St. Louis Southern tne Texas road to Gatesville, 305 miles; total, main hue» 7^? miles,
0
branches, Mt. Pleasant to Sherman, 115 miles; Tyler to Lufkin farrow,
ftailroad (including Carhondale & Shawneetownl is leased f
for 30 per cent of gross earmngs. minimum to be $32,000, and interest gauge), 89 miles; Corsicana to Hillsboro, Tex., 42 miles; Coi^erce to
■on bonds being guaranteed to ■¿hat extent. The Chicago St. Louis <e Fort Worth, 107 miles; Lewisville, Ark., to Shreveport^,La., 60'm il es,
f
Paducah Roaf if leased for 978 years fromMareh l 888 , at 30 percent Altheimer to Little Rock, Ark., 43 miles; Malden, Mo., to Delta, 51
of gross earnings, with guarantee of principal, and rental to pay first miles •other branches, 12 miles; total, June, 1891,1,244 miles.
This company is successor to the St. Louis Arkansas <c Texas, y^ose
f
moftgage fnteVeft. (V. f f l p. 801.) ^ e first mortgage bonds on this
oad was sold in foreclosure in October, 1890, the same property having
road arc redeemable after September 1,1892, at 105.
St. L. Alt. <eT. H. dividend bonds are not entitled to receive anything S n S o u S y f O T e ^ S in 1885-86. See plan of reorganization in
f
for principal or interest until all arrears of dividend upon the preferred Ch r o n ic l e , V §0, pp. 141 and 561. In May, 1891, the receiver of old
«took and other prior legal claims shall have been adjusted, and a sur company was discharged and new securities were issued. See V. 52, p.
plus of annual earnings reached which will be applicable to such divi
Send bonds See V. 48, p. 389. The preferred stock has a prior right to 7*The organization consists of three corporations.—the St. Louis SohHi*
-a cumulative dividend of 7 per cent before any is declared on common western Railway Co., the St. Louis Southwestern Railway Co. of Texas
andThearreara accrued toJan,l, 1891, amounted to 37^4 per cent or
®944 163. The preferred stook is also convertible mto common at par. aiThel1fiwt1mortg^e^certificates are issued against a Uke aggregate
amount of first mortgage bonds secured upon these lines at a rate not
■Common stook is $2,300,000; par, $100.
, .
Dividends on preferred stock s^ce x876 .—In l8 78 ,2 per cent, in 1881, exceeding $16,500 per mile, and the second mortgage certificates
snob interest
3 and 55 in bonds; from 1882 to 1885, mclusive, 7; m 1886, 2Uj; m l887, against second mortgage bonds at $8,250 per mile.
The new incomes will receive from January 1,1891, such mtere t,
avable semi-annually, not exceeding 4 per cent per annum, as can be
*^rom^January l^o 8J.me' 30, 1891 (6 months), gross earnings were
aid out of net earnings of the railways during the preceding fiscal
$651,541, against $580,098 in 1890; net, $245,873, against $239,758.
year, after* payment of Operating expenses, repairs, renewals, r e p l« £
The annual report for 1890 was in V. 52, p. 717.
rnenis taxes, insurance and interest on prior liens. The issue of these
GENERAL FINANCIAL RESULTS.
certificates may be increased up to $ 10 ,00 0 ,000 , subject to restrictions
1890.
1889.
1887.
1888.
provided in the mortgages as to their issue and application of the proF?om Jan. 1 to Aug. 31, 1891 (8 months), gross earnings on 1,227
Cross earnings........................ 962,480 9497307 1,110,426 1,336,910 ° e
400,796
461,748 527,767 milM were S2.484,083, against $2,374,417 in 1890.
Net earnings........................ --- 441,401
249,936
332,095 362,149
Earnings of the road while in the hands of the receiver were as follows large expenditures for iron Dridges, steel rails, «fee., being included
129,653 165,618 in operating expenses. (See V. 52, p. 322.)
Net revenue..................... . 185,518 150,860
g
^
or Deo
452,729 *440,412
Add rental of main line, etc. . 452,437 452,540
582,382 606,030 Gross earnings.-............. 3.876^,285
4,lol,142
Inc. 225,857
Total net receipts.......... . 637,957 603,400
Deduct—
4,844,124
Inc. 1,554,897
469,000 469,000 ‘ Operating expenses......... 3,289,226
469,000
Interest on funded debt........ . 469,000
69,182
94,078 146,996
New equipment, taxes, «fee.. . 169,962
Net earnings.................. 587,058 def.741,981
Dec. 1,329,040
563,078 615,996
Total deductions............. . 638,961 538,182
* Betterments and extraordinary expenses (^eluded in operating ex19,304 df.9,966
65,218
Balance............................. .def. 1,005
I w l W o V I s o ^ T s i , * r i l S 1! ! ! ; 967,
* Including interest on C. C. C. < St. Louis bonds in 1890.
&
—(V. 51, p. 52, 144, 383,459, 494; V. 52, p. 42, 81, 351, 499, 7 1 7 .)
V 3 $ V M
r
&
S t. L o u i s A r k a n s a s & T e x a s .-S E E St . Louis Southwestern .
-» nn«a M D alro.—Owns Cairo to East St. Louis and branch, 161
r
ci/nYictii (jhxtdoo os of. -Lsouib,/
T
«iw 1 1070
to thft Terr©
«tat* linft 158 miles. Road opened July l , i»7U.
Haute « Indianapolis RR. (for account of itself and the Pittsburg Cincmfe
■miles The former Cairo < St. Louis made default April 1,1874, and
&
rhicavo & st" Louis RR.) at a rental of 30 per cent of gross earn^Ts sol < in foreclosure July, 1881. Stock is $6,500,000. In January, inss 1In 1889-90 it was agreed that in future the profits and losses
1
T886 a leas?was^negotiated till January 1,1931, to the Mobile « Ohio
&
Ralfrold on the basis of a rental of 25 per cent G f * p ?f the gross
>
Revenue of the whole line, Mobile to St. Louis, this rental bemg guaranie lfu v the lessee to amount to $165,000 per year. In year ending June
3 0 1 8 9 0 ^ s 8f|727T95; net, $159’ 939 (against $144 487 in 1888-89);
,
rental to Jt. Lords « Cairo, $172,127- See V. 51, p. 830.
&
St
L o u is & C h ic a g o . —See N orth < South of I llinois.
&
*T
, m n e G ir a r d e a u & F o r t S m it h .—(See Map.)-^Owns
St. L o u is C ape tw
t o H u n ter, Mo., 9 4 miles; Campbell, Dun^ i c o 0 to iSnnet
miles“ leases branch to Zalma, 9 miles; total
can Co. , to ueuueL, ^ anr<,ft=sor to the Cape Girardeau Southwestern;
S
S
’ n e d in May, 18 H Theroad is to be extended 45 miles from
S t e ^ Monmouth Springs on Arkansas State Lme, and a branch is to
K i l t S S t o C a i f p b e H , 30 miles An ^ “
o u tS ln S '
jected to Fort Smith, Ark. Stock authonzed, $2,0(M^000, 'outsstanchn„,
$1,150,000; par, $100. A general mortgage oi! $7^500,(W
O»has been^au
thorized, $1,325,000 of this amount to be deposited to retire the
lying issues at maturity. Balance to be issued for construction of new
C ratin g this road should be divided between the lessees in the
o?ttve-sevenths to the Pittsburg Cin Chic, «
fe
Louis and
fwo sevenths to the Terre Haute < Indianapolis. In l8 90 a general
&
settlement of ola accounts was made with the Terre Haute < Indian
&
apolis under whioh this company received $287,157 m cash and 5 per
cent notes for $ 657 ,665 , payable $25,000 monthly from August 1.1890.
In July, 1887, suit was brought by the
i1! 1“ S f t v
1 1
1
5 ^ ®ref • par $100. The Terre Haute <eIndjanapolis owns $326,000
’
f
preferred and $500,000 common stock, andthe PenMylvama RR-^olds
L o7 noo «referred and $225,0«)0 2d mort. convertible 7s. in April,
«hi « n t
dends on the preferred stock up to Deo. 31,1878, the sum oi
«,
R A IL R O A D
S e p t e m b e r , 18 9 1.J
Moberly
Dawson
Holton'
STO CKS
119
BONDS,
jDuincy
Bowling Green)
Pana'
atchfiel^
Sfe.Jc.
Irunswicl
"Effingt i
iLeavè'nwÇpihl
Manhattan
AND
Mexico
fxington
[Alton
enee
/Olathe)
Columbia
Boonvijìg
JEFFERSON
Pleasanton
Bagnili
'Warsaw
'Joplin \
i Monett
Yinita
"Lebanon
¡arbondale
adorado
^HYSBORO,
Bismarck eSu.
\Parkei
\ Cyv
W IL L O W
S P R IN G S
WL
5?
(Dexter
Poplar
B lu ff/
West Plains'
M A M M O U T H
Rogers'
Fayette'
S P R S . 'V
Knobell
Milan
Hoxie
jasper
“
«/Humboldt'
Cushman’s'
,Ft.Gibson
■
K.
0 Tahlequaft
Pulton
pWucah Jc .
Rives
Williford
o
T e ll v i ll e ^ ö >,
.Wagoner
Illinois
1
jBurnhanm
^^
Seligman
Sulphur S ÿ °
BentonVille1
Choteau
Muscogee
Mineral
Rolla
Salem
Ozark H ^M ansfiela^^^^
Chadwick
Neosho
Lenapahf
Sapulpa
Cuba
^•Vernon
Carthage
C0ffee^ ‘ I W®
Claremore,
Ashley
imaroal
P
ointai
Bolivar
3%eld
A ah Grove
Nowata
Bacine;
O IT
Osceola
(evada
Parsons
it. Louis_g:
lîxvJBelievTtîé
.Cllntoi
'Montelth/
[Rich Hlil
Ladlson
Fredbnia
Ldtvarus Y\
’1easant Hill M \_Se3aiia
P.
~[[[>a'fíolden
Tip^nV^i-N^
íarrlson "V. /
[ackson.
Clinton
I
Bald Knob
Eufaula,
Ft.Sm itl
Jenson,
a°£TAVV^C
.Conway - y / Gregor
•vq Greenwood
,Mansfield
,Kio_wa
.Holly Sprs,
Klaren don
LIT T LE ROCK,
Atoka
•Tuska Homm
’Malvern J c \ \
♦V
Pine B lu ff
Caddo
Hamden
■ Nashville
Arkadelphia
6 Senatobia
New Albany
Stuttgart,
0Dallas-
Ponto tac
tób Roy §
^Swan L.E
J' Washington o
ARKANSAS C
Hope
War.ren<
Camden;
Paris
Texarkani
Me Nell
Magnolia
a
,Mt.Pleasant
i
'{¡Wile Pittsburg.
Mamburg
Greenville
^Winona
[Tcbula
Macon
Lauderdale
Forest
VICK
S.
V K
IO S.
ALA.
Henderson
’Corsicana
Columbia"
Palestine
Harriston
Natchitoches
jNacogaoches
Crockett
BrooShaven
NATO
Ellisville,
TOvBnudehfijnml
>Lufkin
Hattiesburg
Magnolia
Wdodvill
ALEXANDRIA)
Ogden
Bayo.u
Huntsville
" - to Slaughter
B o n Hudson
Washingti
¿B ATO N
fW \ R O U G E
Navasota
L a Fayette"
[Hempstead
’StJMartins V.
Cades'
Tribotteaux--
H O USTO"
Sabine Pass
¡Morgai
Houma
Richmond
Columbia
S M s T . LOUIS CAPE GIRARDEAU
AND
FORT SM ITH
^ y y /?
Meridiai
Hazlehurst
Jackson V,
Jewett
Artesla
Dura)
>
fKosci
iYazo.0 City .
[Rolling
’ Fork
Bastrop
Homer
,/
JeffersonMineóla1
'Big Sandy >r
XelanjU/
Aberdeen
Muldon \ f y
West P o in t]/
_p¿2^st
IGreenwoi
Monticello1
Ladonia
trenada
'Parsons
Tupelo
R A IL W A Y
&
C O N N E C T IO N S .
Covington
' pearl
¡River
12©
IN V E S T O R S ’
SUPPLEM ENT.
(Tot. L in ,
September, 1891.]
R A IL R O A D
STO CKS
AND
BONDS.
191
Subscribers w i l l con fer a great fa v o r b y g iv in g Im m ediate notice o f an y e rro r discovered In these T ab le s.
Bonds—Prind*
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due,
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Whom.
Dividend.
Road. Bonds Value.
on first page of tables.
N. Y., Of., 32 Nassau St. July 5, 1887
$100 $4,660,207 3 & 15 st
St. Paul «6 Duluth—Common stock...........................
do
do
Sept. 1, 1891
5,194,910 See rem. M. & S.
100
Preferred 7 per cent stock and scrip....................
do
do
Aug. 1, 1931
F. & A.
5
1,000,000
1,000
1st mortgage................................. - ................ O 167 1881
j
do
do
A. & O.
Oct. 1, 1917
5
2,000,000
1,000
2d mortgage...........................................................ffl 167 1887
do
do
Jan. 1, 1914
J. & J.
6
210,000
1,000
21 1884
Taylor’s,Falls & Lake Sup., 1st M. gu., s. f. not dr.c
do
do
Sept. 1, 1916
M. & S.
5
500,000
1,000
25 1886
Duluth Short L. IstM, guar.,cum.,s.f. not dr’n.C
do
do
Dec. 1, 1900
J. & D.
7
262,500
12 1870
Stillwater & St. Paul 1st mort., g. (not guar).......
St. Paul Minn. < Manitoba—See Great Northern—
6
Q.—F. N. Y., Office, 35 Wall St. Aug. 1, 1891
6,250,000
1*2
100
St. Paula No.Pacific—Stock($10 ,000 ,000) authoriz’d 184
M. & N. N. Y., Winslow, L. & Co. May 1, 1907
7
438,000
1,000
Western RR. Minn. IstM. RR. covered by gen. M. 60*2 1877
Feb. 1, 1923
do
do
7,985,000
1,000
6 g- Seerem.
Generalmortg., guar., land gr. ($10,000,000).c*te. 218 1883
1,750,000
6 g- J. & J. Jan.,1890, coup, lastpd. Jan. 1, 1916
1,000
San Ant. a Aransas Pass—1st M., g., red. at 110.o 152 1885
'
4,473,000
6 g. J. & J. Jan.,1890, coup, lastpd. July 1, 1926
372 1886
1,000
1st M., exten., gold ($12,000 p. m.) red. at 110.c*
5 g. A. & O. Apr.,1890, coup.last pd. Oct. 1, 1938
1,725,000
1,000
1st M. for $9,000,000, gold, $15,000 per mile, .o* 115 1888
Oct. 1, 1913
None paid.
5,112,000
639 1888
1,000
5 g- A. & O.
2d M., g., income for 5 years, $8,000 per sale—
1,046,000
Rolling stock lease warrants...................,............- •
1,068,832
3^2 Feb. Ì. Moss N. Bk., Sand’ky, O. Feb. 1, 1891
50
116
Sandusky Mansfield & Newark—Re-organized stool
J. & J. N. Y., Union Trust Co. Jan. 1, 1909
7
2,300,000
1,000
1st M. .int. gu. under lease byB. & O. and Cent. O... c’ 116 1869
5 g. J. & J. N.Y.,46Wall,& Fr’nk’frt Jan. 1, 1919
4,150,000
1,000
San Fran, d No. P a c— 1 M.,g.($4,500,000)s.f.C*&] 162 1889
k
st
7 ~ J. & J. New York & Americus. 1905 & 1906
350,000
500
1885-6
Savannah Americus < Montgomery—1st morts........
£
•6 g. J. & J. Baltimore & Americus. July 1, 1919
2,590,000
1,000
Consol, mort.,gold, $12,000 per mile,$4,100,000 e’ 184 1889
J. & J. N.Y.,H.B.Plant,&Savan July 1, 1897
7
1,780,000
Savannah Florida < West.—At. & G. consol, mort. c’ 347 1867 50Ó &c.
£
May 1, 1899
do
do
M. & N.
7
464,000
1,000
58 1869
So. Ga. & Flor., 1st Ms., end by State of Georgia.c’
M. & N. N.Y.,H.B.Plant &Savan May 1, 1899
7
200,000
1,000
58 1869
Last annual report was in Chronicle , V, 52, p. 278. In year
ending Oct. 31, 1890, gross earnings were $1,833,301; rental to St.
Louis Vandalia & Terre Haute, $549,990; less charges, $370,459, leav
ing surplus, $179,531, against $148,585 in 1888-89. In 1885-6 profit to
lessee was $23,687; in 1886-7 profit $117,821; in ’87-8 profit $11,983;
in ’88-9, $56,987; in 1889-90 profit $100,466. (Y. 48, p. 68, 126 ; Y.
50. p. 242 ; V. 52, p. 278, 832.)
St. P a u l & D u lu th .—Owns from St. Paul, Minn., to Duluth, Minn.»
155 miles; branches to Clocquet, Grantsburg and Sandstone, 28 miles;
leases—Stillwater & St. Paul Railroad, 13 miles; Minneapolis & Duluth
Railroad, 13 miles; Taylor’s Falls & Lake Superior, 21 miles; Duluth
Short Line, Thompson to Duluth, 18 miles; other, 3 miles; total, 250
miles. Between North Pacific Junction & Duluth, 24 miles, the road
is owned jointly with the Northern Pacific.
The Lake Superior & Mississippi Railroad was sold in foreclosure May
1,1877, and this company organized June 27. The preferred stock is
received in payment for lands at par. Three shares of common stock
have one vote, and each share of preferred has one vote. Preferred stock
has a prior right to 7 per cent; then common to receive 6 per cent.
In July, 1891, $175,000 of net proceeds from land and stumpage was
applied to the retirement of $182,000 preferred stock. See V. 53, p. 157.
Dividends on common stock: In 1887, 3 and 15 in common stock; in
1888 and since, nil. Dividends on preferred since 1880: In 1881, 10
stock; in 1882, 3 ^ in cash; in 1883, 7 ; in 1884, 3 ^ and 7 in preferred
stock; from 1885 to' 1888,7; in 1889, 5*2; Jan., 1890, 2 ^ ; Sept. 4;
in 1891, March, 21 Sept.,
$;
The second mortgage covers the
right to leased lines, but not the land grant.
The company has a land grant, of which 1,068,855 acres remained un
sold June 30,1890, and 65,441 acres of the Taylor’s Falls branch.
From July 1,1891, to July 31,1891 (1 month), gross earnings were
$157,038, ag’st $140,964 in 1890; net, $42,342, ag’st $47,144.
Fiscal year ends June 30. Report for 1889-90 was in Y 51, p. 536.
1888-89.
1889-90.
1890-91.
Gross earnings............................... $1,406,865 $1,410,527 $1,621,939
Operating expenses....................... 1,011,022
974,236
1,021,481
Net earnings............................
Total net income..............
Disbursem ents—
Rentals, interest, taxes, etc........
Dividends.......................................
$395,843
$443,550
$436,291
$458,789
$260,183
295,040
$302,139
134,117
$555,223
$436,256
Total........................ :...........
Bal.from RR. operations_ def.$lll,673 sur.$22,534
_
Rects. from stumpage and lands. 111,596
i92,848
$600,458
........
............
Balance................... .............
def.$77 sur.$215,382
............
—(V. 48, p. 129, 46 0 , 609, 829; V. 51, p. 241, 275, 5 3 6 ; Y. 53, p. 157.)
St. P a u l M in n e ap o lis & M a n ito b a .—See Great Northern .
St. P a u l & N o rth e rn Pacific.—Line of R oad—Brainerd to
Minneapolis, 139 miles, and branches to St. Paul, &c., 79 miles; total,
218 miles. Owns terminals in Minneapolis on 20 acres, and owns in all
some 400 acres about Sh Paul and Minneapolis. The land grant (197,388
acres unsold March 1,1890,) is between Brainerd and Sauk Rapids; pro
ceeds of lands are first applied to purchase of Western Minneapolis
bonds, then to general mortgage at 120 or under. The road, with its
terminal property, is leased for 999 years to the Northern Pacific, at a
net rental equal to 40 per cent of the gross receipts, but any surplus
over 6 per cent on stock is divided equally between lessor and lessee.
The bonds are guaranteed by Northern Pacific. Interest on coupon
bonds is payable F. & A.; on registered bonds, Q.—F. The stock is
placed in trust with the Farmers’ Loan & Trust Company, but power to
vote is in the Northern Pacific Company; “ beneficial certificates,” en
titling holders to dividends, are issued. Of the stock $3,752,500 is
owned by Northern Pacific. Dividendsfrom 1883 to Aug„1891, inclusive,
6 per cent per annum. In year ending June 30,1890, gross earnings
were $2,052,099; rental from Northern Pacific, $740,652; other rentals,
&c., $161,274; total net income, $901,926, from which paid interest,
&c., $538,803; dividends, $330,000; total payments, $868,803; surplus,
$33,123.—(V. 49, p. 23, 540; V. 51, p. 535.)
San A n to n io & A ra n sa s P a ss .—(See M a p ) —Owns from Kerrville
to Aransas Bay, Texas,221 miles; Kenedy to Houston, 176 miles;
Yoakum to Rockdale, 105 miles; Skidmore to Alice, 43 miles; Shiner to
Lockhart, 55 miles; branches to Corpus Christi, Rockport, &c., 63
miles; total, 663 miles. The extension to Rockdale, 17 miles, was
opened July 22,1891. Company was unable to meet July, 1890, in
terest, and on July 14, B. F. Yoakum, Vice-President, and J. S. Mc
Namara were appointed receivers. See V. 51, p. 21, 85, 207. In June,
1891, receivers’ certificates for $350,000 were authorized, to be used for
the immediate completion of 54 miles on the Waco Extension. For the
report to the bondholders on the condition of the property, see V. 51,
p. 345. The reorganization committee is F. P. Olcott, Joseph Wharton,
Henry Budge, E. P. Swenson, A. S. Heidelbach, J. Kennedy Tod and
Fred. Cromwell. Their plan of reorganization was published in March,
T891 (see V. 52, p. 464), and provides as follows :
The whole property shall be acquired by foreclosure or otherwise
(a suit for foreclosure was instituted in September, 1891), and the fol
lowing new securities created covering all the property:
1. First mortgage five per cent fifty-year gold bonds of
$1,000 each, carrying interest from July 1st, 1891:,
Issue limited to.......................................$16,800,000-$21,000 p. m.
Reserved for extension to Llano and
Austin and for additional rolling
stock as required.............................
2,100,000
Present issue for the purposes of this reorganization---- $14,700,000
2. Five per cent non-cumulative preferred stock........... .
$5,250,000
3. Common stock, par value $100 per share....................... $5,250,000
Assenting security holders will receive (1) for old first mortgage 6 per
cent bonds, with July, 1890, and subsequent coupons attached, new
first mortgage 5 per cent gold bonds, $1,000; now 5 per cent preferred
stock, $150, and new common stock, $150. (2) For each old first mort
gage 5 per cent bond, October, 1890, and all subsequent coupons
attached, new first mortgage 5 per cent bonds, $850; new preferred
stock, $120; new common stock, $120. (3) For each old $1,000 second
mortgage bonds, all coupons attached, new first mortgage 5 per cent
bonds, $225; new 5 per cent preferred stock, $250; new common
stock, $250. (4) For each share of old stock (in the hands of the public)
$100 in new stock.
Each holder of $2,000 old firsts may subscribe to a cash fund created
to liquidate cash requirements for $850 of said fund, for which he will
receive $1,000 new firsts, $350 new preferred and $350 new common.
The stock of the reorganized company is to be transferred to voting
trustees in exchange for beneficiary certificates, the committee being
named as trustees for three years from July 1,1891. Securities are
depositedwith the Central Trust Company of New York in exchange
for the Trust Company’s engraved receipts.
The Central Trust Company has received assents to the plan of re
organization as follows: $1,114,000 out of the $1,750,000 of the
1885s; $4,379,000 out of $4,473,000 of the 1886s; all of the $1,725,000 of 1888; $3,975,000 of the $4,000,000 incomes, and $4,809,200 of
the $5,000,000 stock.
•
From Jan. 1 to June 30, 1891 (6 months), gross earnings on 640
miles were $753,895, against $728,346 on 510 miles in 1890; net;
$32,504, against $84,069. In the calendar year 1890 gross earnings
on 510 miles were $1,701,451, against $1,438,425 on 413 miles In
1889. (V. 50, p. 107; V. 51, p. 21, 85, 143, 207, 276, 345, 383, 538,
571, 788; V. 52, p. 204, 464, 499, 574, 899; V. 53, p. 96.)
Sandusky M ansfield & N ew a rk .—Owns from Sandusky, O., to
Newark, O., 116 miles. Leased to Central Ohio, guaranteed by Balti
more & Ohio, Feb. 23,1880, till Dec. 1,1926, with option to the Balt. &
Ohio Co. to renew for terms of 20 years each. It is operated as Lake
Erie division of the Baltimore & Ohio system. Rental is $201,850.
The Baltimore & Ohio’s guarantee of interest is endorsed on the bonds.
Dividends from 1881 to 1884, 2 per cent; from 1885 to 1888, 3 per
cent; from 1889 to 1891, 3*2 per cent, payable annually Feb. 1. In
1889-90 gross, $1,211,170; net, $271,397; profit to lessee, $47,162.
San F ran cisco & N orth P acific.—Point Tiburon, Cal., to Ukiah,
Cal., 106 miles, and branches, 56 miles. Consolidation of various com
panies March 19,1889. Connects with San Francisco (6 miles) by com
pany’s steamer. Bonds issued at $25,000 per mile; trustee, Mercantile
Trust Company, New York; sinking fund, $25,000 per annum, and
bonds drawn (or purchased) at 110 and interest. [See abstract of the
mortgage in V. 49, p. 241.] Capital stock, $6,000,000; par $100; no
floating debt.
From July 1,1891, to Aug. 31,1891 (2 months), gross earnings were
$183,902, against $161,847 in 1890; net, $89,529, against $67,031; inter
est, rentals, etc., $34,415, against $34,800; surplus, $55,113, against
$32,231. IP year 1890-91 gross earnings were $832,647, against
$755,294; net, $288,185, against $229,510: surplus over charges, $80,511 against $26,731, and sinking fund $56,551, against $1,731. J. F.
Burgin, President, San Francisco. (V. 48, p. 800; V. 51, p. 20 5; V. 53,
p. 186.)
S avan n ah A m eric a s & M o n tg om ery .—(See Map.)—Owns
from Omaha, Ga., on the Chattahoochee River, easterly, 190 miles, to
Lyons, where connection is made with the Savannah & Western (Cen
tral of Georgia system), forming a direct line to Savannah, Ga. An
extension is in progress from Omaha to Montgomery, Ala., 80 miles, of
which about 65 miles have been completed. See V. 52, pp. 322, 535,
Under a traffic contract with the Savannah & Western, through trains
run via this line from Savannah to Birmingham, Ala. In 1891 com
pany leased the Albany Florida & Northern, Cordeleto Albany, Ga.,
35 miles.
This was formerly the Americus Preston & Lumpkin. Of the 1st
mortgage bonds $100,000 are a first lien on 38 miles; the others cover
extensions, being a second lien on the 38 miles. The new consol,
mortgage is for $4,100,000 (Mercantile Trust Company of Baltimore,
trustee). Stock authorized is $5,000,000; outstanding, $1,114,300; par
$100. Car trusts and notes $328,837 (including interest), due yearly
1891 to 1898, payable in monthly instalments.
From July 1,1891, to Julv 31,1891 (1 month), gross earnings on
190 miles were $36,170, against $33,827 on 175 miles in 1890;
net, $13,267, against $17,219. Interest charges per month onroad
now operated, $11,400; on road when completed to Montgomery will
be $16,200. In year ending June 30,1890, gross earnings on 135 miles
were $240,260; net, $111,642; surplus over fixed charges. $44,874.
In 1890-91 gross on 175 miles, $491,499; net, $209,203.—(V. 48, p. 369,
764; Y. 52, p. 322, 535, 796; V. 53, p. 257.)
IS »
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IN V E S T O R S *
SUPPLEM ENT.
[ V ol . L i i r .
Subscriber» w i l l confer a great fa v o r b y g iv in g Im m ediate notice o f any error discovered In tbese T a b les.
RAILROADS.
Bonds—Princi INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount jRate pei When
For explanation of column headings, &c., see notes of
of
Par
Where Payable, and by Slocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Savannah Florida A Western.—( Concluded).
Sav.Fla. & West.,consol.M.for $6,500,000, g.c*&r
Monticello extension bonds...................................
Brunswick & West. 1stM.,guar, by S. F. & W . . ,c
Income bonds, non-cumulative.......................... .
Savannah A Western—Columb. & West.lst M., gu.c’
Columbus & Rome 1st mortgage guar........ ........c’
1st consol, mort., gold ($18,000 per mile), guar.c’
Schuylkill A Lehigh—1stm., gu. p.& i. by Phüa.& R
Scioto Valley A N. Eng.—1st mortgage .............c'
Seaboard ¿Roanoke—St’k ($244,200 is pf. gu. 7p.c.]
Debentures, redeem, at will after July 31,1916.r
1st mortgage for $2,500,000....................... : ___ c
Seattle Lake S. & East.—1st M., g., $25,000 p. m.e
Shamokm Sunbury A Lewisburg—1st mort__ o fcr
*<
2d mortgage........... ......... .......................... •....;. .c'
Shamokin Val. A Pottsville—Stock, guar, by Nor. C
1st mortgage, gold, on road and lands................ c
Shore Line (< onn.)—St’k, 7*2 p.c.rent.N.Y.N.H.&H.
1st mortgage.......................................... .................
Shreveport & Houston—1st, g., guar, by H. E. &W.T.
Silver Sj>. Ocala Oulf—lst,l. g.r. g. ($15,000p.m.)c*
Sioux t ity A Northern—1st mortgage, gold..........c*
South Bound—1st mortgage for $15,000 per mile..
South Carolina—1st mortgage, sterling loan...........
1st consol, mortgage (for $5,000,000)...................
2d consol, mortgage.............................................. o*
Income mortgage bonds (not cumulative)........ e*
South Florida—1st mort.,gold, ($12,000 per mile). c*
So. ¿No. Alabama—lstM.,s.f.not dr’n; guar.byL.&N.
2d mort. bonds, s. f. $20,000 (owned by L. & N.).
Consol, mortgage (for $10,000,000), gold, guar.c*
S. Pacific >'oast—1st M., g., guar. (s. f. begins 1912)c
545
1884 $1,000
1889
1888 50Ó &c
1,000
1888
1881
1,000
1884
1,000
1889
1,000
1872
1889
1,000
$4,056,000
290,400
3.000.
3.000.
800,000
200,000
7.755.000
600,000
5.000.
1,302,900
690.000
800.000
5.450.000
1.000.
6 g. A. & 0. N.Y.,H.B.Plant&Savan. Apr. 1, 1934
6
A. & O.
do
do
Apr. 1, 1899000 4 g. J. & J. N.Y.,12 W.23d St.& Sav. Jan. 1, 1938
000 5
None paid.
Irredeemable.
158
6
J. & J. N.Y., Security & Tr. Co. Jan. 1, 1911
50
6
J. & J.
do
do
Jan., 1914
427
M. & S.
5 g.
do
do
Mch. 1, 1920
44
4*2 M. & N.
Nov. 1, 1902131
000 4 g. M. & N. N. Y.,Central Tr. & Phil Nov. 1, 198981
100
3*2 com. M. & N. Balt., Farm.& Plant.Bk. May 1, 1891
1886 100 &c.
6
F. & A.
Portsmouth. Va.
4ft. July,191(?
8Ï 1886
1,000
5
J. & J. N. Y., Baltimore <cPhila. July 1, 1926.
f
218 1886
1,000
6 g. F. & A. N. Y., Union Trust Co. Aug. 1, 1931
31 1882
1,000
000 5
M. & N. Phila., Phil. &Read.RR. May 1, 1912
31 1890
1,000
1,000,000
, 6 g. J. & J.
¿0
do
July 1, 1925»
29
50
869,450
3
F. & A. Phila., Penn. RR. Co. Aug. 1, 189L
28 1871 500 &c.
2 , 000,000
7 g. J. & J.
do
do
July 1, 1901
49
100
1, 000,000
4
J. & J. N. H., Nat. N. H. Bank. July 9, 1891
49 1880 l.OOO&c
200,000
412 M. & S.
do
do
March, 1910
1,000
40 1881
400,000
6 g. J. & J.
Interest in default.
July 1, 1914
1,000
50 1888
3,000,000
6 g. J. & J. New York, 56 Wall St. July 1, 1918
1,000
96 1890
1.920.000
5 g. J. & J. N.Y., Manhattan Tr. Co. Jan. 1, 1920
1891
6
A. & O.
247 1868 Various
83,092
5 g. J. & J
.|
London.
. On demand’..
247 1881
1,000
4.883.000
6 g. A. & 0.1 Coup’n Oct., 1890, paid. Oct. 1, 1920
247 1881
1,000
1.130.000
6
J. & J. Last paid July, 1888. Jan. 1, 1931
247 1881
1,000
2.538.000
6
Yearly. |
Jan. 1, 1931
189 1885
1,000
2.256.000
6 g- J. & J.|
Jan. 1, 1915
189 1873
£200
£909,000
6 g. M. & N. London, Baring Bros. May 1, 1903.
189 1880
1,000
$ 2,000,000
6 g. A. & 0.1 fï. Y. Of., 23 Nassau St. Apr. 1, 1910
189 1886
1,000
3.455.000
5 g. F. & A.I
do
do
Aug. 1, 1930
104 1887
1,000
5.500.000
4 g. 1 & J.l N.Y..S. Pac., 23 Br’d St. July 1, 1937“
J.
S a v an n a h F lo r id a Sc W estern .—Owns from Savannah, Ga., to
S h am o k in V a lie v Sc P o tt s v ille —T.inenf
«„„v,,,™ t»
q
Chattahoochee, Fla., 258 mUes; 3 branches to Bainbridge, &c., 15 miles. Mt. Carmel, Pa., and b^anclTS O m ilesT L ea se d F e ^
Dupont to Gainesville, 118 miles; Thomasville to Albany. |g miles • 999 year8 to the Northern Central Railway Co , with a guarantee of
Dunont
Gainesville.
miles: Thnmasville
Alhanv. 58 t h««
»
Thomasville, Ga., to Monticello, Fla., 24 miles; Waycross to Jackson ¿axes, interest on the bonds and 6 per cent on the $869,450 stock (par
ville, 75 miles; Fort White, Fla., to Lake City, Fla., 20 miles; total, 569
is owned by
miles. In January, 1888, control was purchased of the Brunswick & $50), or which $619,400 7 per cents. the Northern Central. Pennsyl
vania RR. owns $605,000
Gross earnings for 1889 $403 Western Road, Brunswick to Albany, 171 miles, with bonds as above, 242; net, $213,559. Gross earnings for 1888, $409,677; net, $195,63^.
the first mortgage bonds being guaranteed. In 1890 a controlling George B. Roberts, President, Philadelphia.
v
interest in the Alabama Midland was acquired by the Plant Investment
Shore L in e (C o n n ).—Owns New Haven, Conn., to New London»»
Co., which controls the system. See Alabama Midland; also, Y. 51, p.
50. The Metropolitan Trust Co., of N. Y., is trustee of the mortgages. Conn., 49 miles. Leased to New York & New Haven RR. Co. in perpet
The 8 avannah Florida & Western stock is $6,403,400 (par $100) and uity November 1,1870, at $100,000 net per annum. Dividends usually
dividends have been: In 1881, 9*2 per cent; in 1882, 6 *2 ; in 1883, 7 ; in 3*4 or 3*2 per cent in January and 4 per cent in July. Operations and
1884,4; in 1887,1%; in 1889, 4; in 1891, April, 2. From January 1 to earnings are included in the reports of the lessee.
June 30, 1891 (6 months), gross earnings were $1,748,435, against
Shreveport Sc H o u s to n .—From Shreveport, La., to Logansport..
$1,532,660 in 1890; net, $627,382, against $317,665. In 1890 gross La,., 40 miles; connects with Houston East & West Texas Road? formingearnings, $3,038,473; net, $575,028; Interest, $431,864;-rentals, etc., with that a narrow gauge line of 230 miles from Shreveport to Houston
$38,361; surplus, $104,802. Total surplus Jan. 1, 1891, $140,217; Mr. M. E. Howe was appointed receiver January 1,1890, and sale un
deduct dividend (2 per cent), $131,946; balance, $8,271. H. B. Plant, der foreclosure took place on June 2,1890. (V. 50, p. 353, 875.)
President, New York. (Y. 51, p. 50; V. 52, p. 761.)
S liver Springs O cala Sc G u lf.—Projected from Palatka, Fla., toS a v an n a h Sc W estern .—Owns from Birmingham, Ala., to Amer- Point Pinellos on Tampa Bay, about 250 miles, and completed to Homoicus, Ga., 222 miles; Columbus to Greenville (narrow gauge), 50 sassa, 53 miles, with branches, 14 miles. Stock, $2,500,000 par $100
miles; Opelika to Roanoke, 37 miles; Eufaula to Ozark, 60 miles; There is a land grant of 13,840 acres per mile, of which the mortgageMeldrim to Lyons, 58 miles; Griffin to Carrollton, 60 miles; Chatta covers 4,000 acres per mile. Thomas C. Hoge, President. 56 Wail St.
Sioux City Sc N orth e rn .—( See Map)—Owns road, completed in.
nooga Rome & Columbus, Chattanooga to Carrollton, 140 miles, and
branches 36 miles; total, 663 miles.
February, L890, from Sioux City northerly to Garretson, So. Dak., 96 miles
In May, 1891, the Chattanooga Rome & Columbus (which see) was At Garretson connection is made with the Great Northern, with which
purchased for $400,000 consolidated 5s, the Savannah & Western guar there is a traffic contract for thirty years. The road forms part of the
anteeing its $2,240?000 bonds. See V. 52, p. 761.
Great Northern’s through route from Sioux City to Duluth, a distance of
This was a consolidation in August, 1888, of the Columbus & Western 435 miles. The mortgage (trustee, Manhattan Trust Company) is
and other roads. Road belongs to the Central of Georgia system. Stock limited by supplemental deed to $1,920,000, the amount now out
is $3,000,700 (par $100), all owned by the Central of Georgia. The standing. Stock authorized, $10,000,000; outstanding, $1,440 000
From January 1 to June 30, 1891 (6 months), gross earnings were
consolidated mortgage (trustee, Central Trust Company, New York) is
for nominally $18,000,000, of which $1,560,000 held in trust for prior $212,150; net, $87,307. In 1890 gross, $310,046; net, $133,648. (V
*
f
liens; abstract of mortgage in V. 49, p. 240; principal and interest is 50, p. 276, 353; V. 51, p. 416, 459.)
guaranteed by Central Railroad & Banking Company of Georgia. In
South B o u n d .—Completed in Sept., 1891, from Savannah, Ga., to1889-90 gross earnings on 386 miles were $889,362; net, $208,086, Columbia, 8 . C., 140 miles, connecting at Columbia with the Riohmond &
against $87,485 in 1888-89. President, Gen. E. P. Alexander, Savan Danville for Washington and at Savannah with the Savannah Florida &
nah, Ga.—(V. 47, p. 218; V. 48, p. 729; V. 51, p. 910.)
Western for Florida points. The Savannah Construction Company,
S c h u y lk ill Sc L e h ig h .—Owns from High’s Farm, near Reading, with a capital of $737,000, had the contract for building the road.
Pa., to Slatington, Pa., 44 miles. Reorganized in 1880, and in 1883 Track laid with 60-lb. steel rails. The mortgage is for $2,250,000;
leased to Philadelphia & Reading for 999 years. Reading owns the trustee, Mercantile Trust & Deposit Company of Baltimore. President,
stock ($50,000) and $400,000 second mortgage bonds. The first mort Mr. H. M. Comer, Savannah. (V. 53, p. 157.)
gage bonds are guaranteed.
South C a ro lin a.—Owns from Charleston to Augusta, S. C., 137
S c h u y lk ill V alley .—Owns from Palo Alto to Reevesdale, Pa., 11 miles; branches to Columbia, 68 miles, and to Camden, 38 miles; exten
miles; branches, 8 ; total, 19 miles. Leased to Philadelphia & Reading sion, 4 miles; total main line and branches, 247 miles. The Carolina
RR. for 999 years from Sept. 1,1861, at 5 p. c. on stock. No bonded debt Cumberland Gap & Chicago Railroad, from Aiken to Edgefield, 24
miles, and the Columbia Newberry & Laurens Railroad, from Columbia
Scioto V a lle y S N e w lin g ]a n d . —See N o r fo l k & W estern ,
c.
to Clinton, 63 miles, are leased by the receiver of this road, and oper
Seaboard Sc R o a n o k e .- Owns Portsmouth, Va., to Weldon and ated in connection with it, making 334 miles operated.
Sold in foreclosure July 28,1881, and on Jan. 1, 1889, the company
branch, N. C., 81 miles ; leases Roanoke & T. R. Railroad, 29 miles
Also has a controlling interest in the Raleigh & Gaston Railroad. 109 I
again: Foreclosure suit under first mortgage is pending, and
miles. and thus in the Raleisrh & Augusta Air Line, 107 miles, and Caro- plan of reorganization
Lina I nv milAa anri
w*.
miles,
Raleigh Ancnsta,
}BY’ f 9>P;
but some first mortgage
lina Central, 269 miles; also controls Pittsboro Railroad, 11 miles and I ®
ondholders opposed this, and m October, 1889, D. H. Chamberlain was
---- --------~ ’» w - j 11
•
Carthage Railroad, »g miles; —»» of all,. 618 miles. Of the stock, $1,- appointed receiver. There are also $178,000 old 5 per cent first mortgage
total » » ----058,700 is common, $200,000 is 1st preferred 7 per cent guaranteed, and extended bonds, payable 1892, and $8,000 7s, due 1907, in addition to
$44,200 is 2d pref. guaranteed. The debentures above are to be included those above. On July 1,1891, the Receiver paid to date interest on all
in any 2d mortgage issued. After August 1,1916, they are payable at bonds having a lien prior to that of first consols and in September,1891.
will as a whole, or in 10 per cent instalments. Semi-annual dividends he was authorized to pay the coupons due Oct. 1, 1890, on the first con
of 5 per cent were paid for several years, but in November, 1890, and sols. (See V. 53, p. 368.) The stock is $4,204,160; par, $100; car
May, 1891, the dividend paid was 3 ^ per cent. Car trust September. trusts, $74,434. due December, 1893.
From July 1 to July 31, 1891 (1 month), gross earnings on 33A
1891, 5 per cents, due in 1900 and 1901, $250,000.
With Raleigh & Gaston guarantees the bonds of the Georgia Carolina miles were $114,717, against $104,579 in 1890 on 246 miles; net,
$17,701, against $33,331.
& Northern, which see
Earnings have been as follows;
In year ending June 30, 1891, gross earnings on road proper, 114
miles, $771,572; net, $291,627; other income, $T7,147; total net income
INCOME ACCOUNT.
$368,774; interest, rentals, &c., $124,037; dividends, $94,203; sur
1887-88.
1888-89.
1889-90.
1890-91.
plus for year, $150,534 ; in 1889-90, $681,619; net, $275,267; other in Mileage.........................
.....
.....
247
310
œ
$
$
come, $90,349; total, $365,616; surplus over fixed charges, $235,154 •
$
from which paid dividends (10 per cent), $130,290; surplus over Gross earnings...1,256,587
1,279,692
1,420,762
1,689,159
dividends, $104,864, against $132,618 in 1888-89. J. M. Robinson, Oper. exp. and taxes.. 853,141
1,009,497
973,989
1,109,762
President, *Baltimore, Md.
(V. 51, p. 344; V. 52, p. 350, 427; V. 53,
p. 324.)
Net earnings. 403,446
270,195
446,773579,397
Seattle L a k e Shore Sc E astern .—Owns from Beattie to Sallal -(V . 51, p. 207, 223, 416, 910; V. 5$. p. 41; Y. 53, p. 368.)
Prairie and branches, 75 miles; Spokane Falls to Davenport, 50 miles;
South F lo r id a .—Owns from Sanford to Tampa, Fla., 115 miles;
Snohomish Junction to a connection with the Canadian Pacific at the Bartow Branch, 17 miles; Pemberton Ferry Branch, 56 miles; oper
international boundary line, 102 miles; total, 227 miles. Completed in ates Sanford to Lake Charm, 18 miles—total, 207 miles. The road is
1891. In J ily, 1890, the North. Pac. purchased about $3,000,000 of part of the Savannah Florida & Western system, and is to be extended
the $3,174,600 stock and guaranteed by endorsement both principal and from Pemberton Ferry northwesterly 80 miles. The bonds are held by
interest of the bonds.
the Plant Investment Company. In year ending June 30,1889, gross
From July 1,1890, to December 31,1890 (6 months), gross earnings earnings, $364,134; deficit under operating expenses, $36,044.
on 100 miles were $241,729; net, $78,822. In year 1889-90, on 90
South Sc N o rth A la b a r n a .- f t o Map o f Louisville A Nashville.)—
miles, gross, $364,347; net, $155,420; fixed charges, $159,875; deficit,
Owns from Decatur, Ala., to Montgomery, Ala., and branch, 188 miles,
$4,454. (V. 50, p 314; V. 51, p. 114, 498.)
Controlled by the Louisville & Nashville RR. Co., which on June 30,
S h a m o k in S u n b u ry Sc L e w is b u r g .—Lin© from Shamokin to 1890, owned $2,000,000 2d mortgage bonds, $1,882,000 consolidated.
West Milton, Pa., with iron bridge over Susquehanna, 31 miles. Leased 5s, &c., all the $2,000,000 preferred and $1,373,000 of the $1,482,071.
to Philadelphia & Reading till July 20, 2883, and used for coal traffic common stock, most of the stock being pledged under its unified mort
northward. In 1890 stock was mcreased to $2,000,000 and new 2d gage—par, $100. The first mortgage and consol mortgage bonds are
mortgage was issued. StoCK, $2,000,000; par, $50. (V. 51, p. 21.)
guaranteed principal and interest by L. & N., the first mortgage bonds
Ï7 Ï
135
BONDS.
AND
STOCKS
R A IL R O A D
S e p t e m b e r , 1891.J
126
IN V E S T O R S ’
RAILROADS.
SUPPLEM ENT.
IV ol. LHI.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Bonds—Princi
Amount
of
of
pal,When Due.
Par
When
Road. Bonds Value. Outstanding Rate per Payable Where Payable, and by Stocks—Last
Cent.
Whom.
Dividend.
----- — * « ua** J L W U j
w
U V U lgQ
on first page of tables.
South Pennsylvania—Stock.
Southern Central (N. Y.)—Consol, mort.' conve
114 1882 $2ÓÒ&c. $3,300 ,000
5
Funded coupons consol, mortgage
1887
475 ,740
4
Southern Pacific 'OMPANY—Stock($15Ö,ÖÖÖ,ÖÖ()j 5,931
100 L16.074,890
South. Pac. o f Arizona—1st M., ser. A&B,g.,guar.c
384 ’79-’80 1,000 10,000 ,000
So.Pac.f Cal.)—1st M., g.,series A ) land grant... c’
'f 'g .
j 1875 500 &c. 13,564 ,500
Series B, g o l d . ..................... (sink’gfund..c’
11875 500 &c. 4,795 ,000
if:
..................... 11101 subject. . 0’
a?1 68 S ^ 5 ’
!
11876 500 &c.
8,609 ,000
Series E & F, gold....................j to call........ c
J1882 500 &e.
5,415 ,000
If:
So. Pac. Branch 1st mort. sinking fund in 1897.'.
93 1887
3,578 ,000
General mortgage, gold (for$38,000,000)....c*&r 1,373 1888
eg 1,000 10,542 ,000
5 g.
Stockton & Copperopolis IstM., g. (guar, by C.P.)
45 1875 50Ó &c.
500 ,000
5 g.
Southern Pacific o f New Mexico—1st mort. gold c&r 167 1881
1,000
4,180 ,000
Southwestern, (Oa.)—Stock, 7 p. c., guar. Cent. Ga.. 333
g g100
5,147! ,500
3*2
Southwest Pennsylvania—Stock__ 7 ...........................
89
50
1,499; ,900
5
1st M., sink, fund $5,000 yearly, not drawn . r
89 1877
1,000
900;,000
7
Spokane Falls d Northern^-1st M.,$20,000p.m g c* 127 1889
k
1,000
2,546; ,000
*£puyten DuyviltfP’tMor.—
Stock,8 p.c.gu. N.Y.Cent.
6
100
989; 000
I gState Line dt Sullivan—1st mortgage..................... c*
25 1879 100 &c.
300, ,000
6
Staten Island—1st mortgage............. 7 . ! . . . . . ! . . ! . . .
13 1873
1,000
300, 000
7
, A’
T
a.«.,, tpVi , O A UUlllI il.U
. .
All. 1883
1,000
1 , 000 , 000
2d mortgage endorsed by B. & O., gold............ c&r ___ 1886
« g1,000
2.500, 000
5 g.
Incomes, gold (non-cumulative)....................
1885
1,000
4.500, 000 up to 6 g.
being indorsed with the guaranty. In year ending June 30,1890, gross
«arnings were $2,202,l|l; net' $637,247; deficit under interestf&c!
$60,279, against $225,536 in 1888-89.—(V. 50, p. 314; V. 53, p. 370.)
™5 !®ni* s $ v a n ia .—ihe line was in progress between Harris225 miles. After various phases of litigation, in 1889
PonTan<*er1^ 8 Imnskt out the other parties interested, and in March,
r* t» ’ Property was reported sold upon a judgment to George F. Baer,
0
o f Reading, Pa., for $2,500, and reorganized. See Chkoniclb, V. 50, p.
561. (V. 47, p. 690; V. 48, p. 128,160; V. 50, p. 423, 561.)
p
South Pacific Coast (N a rrow -ga u ge).—Owns from Alameda
to Santa Cruz, 77 miles; branches, 27 miles; total, 104 miles. The road is
f° r 55 y+
ears &omv
.Ju1/ 1>1887>t0 the Southern Pacific Company
which guarantees the bonds and owns all but $ 7,000 of the stock
Trustee of mortgage is Farmers’ Loan & Trust Companv The stock ia
$6,000,000; par, $100. In 1890 gross, $L105?M sT net, $294 574 ®
surplus over charges, etc., $18,704. (V. 49; p. 540.)
*~S the,rn
T?“
Y ) .—Owns from North Fair Haven N Y
to Pennsylvania State Line, 114 miles, and branch 2 miles. The Lehigh
Valley leased this road from January 1,1887, for 975 years without
any guaranty of Interest. There are $90,000 of 7 per L T p r i’or bonds
due in 1899. Six coupons from August 1 1886, inil^ive were funded
into income bonds Stock,. $1,774,950; par, $100. in ^ 89 0 gross
earnings were $ol0,962; net, $82,412; in 1889 ernss S w i m
net, $63,381. Thomas C. Platt, President-(V. 51, p. fis?) ’ ip457’163;
F. & A.
F. & A.
J.
A.
A.
A.
A.
A.
A.
J.
J.
J.
M.
F.
J.
J.
J.
A.
A.
J.
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
In default.
Feb. 1, 1922
Nov. I,. 1897
N. Y., S. Pac., 23 Br’d St. Mch., 1909-10
N. Y., S. Pac., 23 Br’d St. Apr. 1, 1905
do
do
Oct. 1, 1905
do
do
Oct. 1, 1906
do
do
Apr, 1, 1912
do
do
Apr. 1, 1937
do
do
Oct. 1, 1938
do
do
Jan. 1, 1905
¡New York, 23 Broad St. Jan. 1, 1911
I Savannah and Macon. June 1, 1891
|Phila., 233 S. Fourth St. Mar. 31, 1891
1
do
do
Feb. 1, 1917
N. Y., Chase Nat. Bank. July 1, 1939
N. Y., Gr’d Cent. Depot. July, 1891
N. Y., Union Trust Co. Jan. 1, 1899
N. Y., foot Whitehall St. Apr. 1, 1893
N. Y., foot Whitehall St. Jan. 1, 1913
do
do
Jan. 1, 1926
do
do
Jan. 1, 1946
$ 632 r ni^n,nioS *eas?? $2,213,998; to other proprietary companies,
2
f
v. S
S
Ä
Ä
1; l* ll:
t h l° Ä h e r n
is the connecting line of
52^.?oiitnern Pacific of California, extending: from Yum a, to Naw
Mexico boundary, 384 miles. The stock is $ 19,995 000 all but < 2 40 0
R
J
’cmgbeid by Southern Paoiflc Co. The bonds consist of series A
non
000, due 1909, and Series B, $4,000,000,^ Ä o
Operated ¿ndeC
tease to Southern Pacific Co., the lessee paving all c h a r o f i S a k n i y
^ le
wk°le Southern Pacific system.
January 1 to»July 31 (7 months) gross earnings in 1891 were
$1,151,892; net, $322,691, against $398,365.
¿ h a r g Ö
f ? ^2,000,594; net, $§85,933 ; deficit under
cnarges, $25,276, net profit due the company under the tease, $245,999.
—T h i s e
t
h
e
'
)
*
— ' s'ee Map.)—Line op Road
/
„•
‘¡ms is the title of a consolidation May 4, 1888. of several lines in.
mcludmg the company of the same name, which ha«f been
formed by a consolidation October 12,1870. The total mileage com
pleted at the close of 1890 was 1,562, of which 242-5 mites were leased
Southern Pflcffi«tpnhe f tlSntic & Paoiflo
o
Co. Balance teased to thefhe in
n’ whlcbowns most of the stock, the lessee paying
V
v,Xed charge?’ betterments and additions, and $1,3401359
Southern Pacific C O M P A N Y .—f£ee Ufa»;—This oorooration
was organized August 14,1884, under the laws of the Stateof KentucW “ omnibus lease 8urplus mcome of a11 the roads operated under the
S i* 1 acauired a trans-Contmental system of railroads with steam??
??< m^N
iC
P„?O D
N S-—Tlie authorized stock is $90,000,000 par S100 of
ship lines from New Orleans to New York, etc. On Jan 1 1891 it C d »
$61,821 900 is outstanding, all but $ l , 3 4 0 , ^ ® g P
3
bylhe
S t S r i
?ys*ierQ aggregating 1,742 mfes; L its Southern Pacific Company. The first mortgage bonds of the several
.
pacrnc system, 2,396 miles, total proprietary lines, 4,138 miles’ leaned ™«ies ^re
e laall7 secured. They are being gradually retired with
<
S t t liSe8^2P 6 & s ary lin68) in P aciii0 8y8tem>2,088 mites? total proceeds of land sales, &c. They are not subject to call. There is also
2
n i t u n d of $160,000 per year. The new mortgage for $38,000 Th6 loftsod linos other thmi tho propriGtftrv linos aun* mi.«
. 000 is dated August 25, 1888, to cover old line and new roads acquired'
Oregon & California and ^ e C a ^ ^ a W
ra S S
trustee, Central Trust Company. In April, 1891, it was a first hen on
Tbe terms on which these roads are operated are stated under the head 469 miles. See mortgage abstract, V. 49, p. 509.
of each company respectively.
™ neaa
a f ran^ y a812,840 acres per mUe, and proceeds
,?d
is m ® o fT l1
^
a t0t^ mortgage indebtedness Jan. 1 , of sales go to retire bonds. The total lands unsold January 1 1891
Of their totafstoel^of7 «1 aq
?wned-oniy $2,220,802 out were estimated at 7,250,000 acres, but a large proportion of this is bar
ren and useless for agricultural purposes vuthout irrigation In 1899
the net sates were 96,758 acres,, for $594,210; interest on deferred
designated are operated for 99 yearsPfrom April1^8ft5
^yments, $155,302; land notes outstanding January 1,1891, $3,006,so-called omnibus lease, under which the “ outtorn pfcific Comnan v
agrees to maintain the roads, to pay all fixed and other charves te ?^ /- A Q
O ^siini*Q ^uary ^
Q
months) gross earnings were $4,880,^ g J ? tfFest on bonds and floating debt, and to divide the total* net 493 m 1891, against $4,857,777 in 1890; net, $1,863,750 in 1891
3
,
,ooo,io« in i s a i ,
profits from operating, after making these payments, among the seieral against $1,615,569 in 1890.
parties to the lease, the Southern Pacific Company to reSfivf lO n ^ l t
£™88 earnings of both divisions were $8,696,786: net
$3,251,639; adding rental ($436,266) received from Atlantic & PacificKR2J:5taLi:et mcome. $3,687,905; surplus over charges, $689 839- net
Proprietary lines operated under omnibus tease: Southern Pacific of profit due the company as per omnibus tease, $2,082,399. (V. 52, p.643.
California, receiving 44 per cent of net profits; Southern PaSfle of Ari
Southern Pacific o f N e w M exico .—Owns Arizona State Line tozona, 10 per cent; Southern Pacific ofNew Mexico?6 percent■ Mori
gan s Louisiana &Texas, 23 per cent; Louisiana & Western 7 ner ce n t Rio Grande bridge, 167 miles. Operated under tease by Southern PacificProprietary lines not operated under omnibus lease • « oh+i d^ o ' Company, the lessee paying all charges and 6 per cent of net profits of
’ ?^
Coast, Northern Railway, Northern California, Texas6 & N w O r i S the whole Southern Pacific system. Stock, $6,888,800 (par $100» all
Galveston Harris. & San Antonio, Gulf Western *
w
Wv
ns’ but $2,500 being held by Southern Pacific^¿mpany sfnking find
& Mexican For further information ¿sTeettog fhesfcoinpaMes6 ««« March 1,1891 $209,958, invested in Gulf Har. & SaS Antonio ald So
• separate statement for each.
6
compames, see Pacific of California bonds. From January 1 to July 31 1891 IT
Stock authorized, $150,000,000. See V. 48 n 428
months), gross earnings were $593,240, against $ 602 ,7 6 7 ; net $263 318, against $246,287. Gross earnings in 1890, $1030 951- net
^dlÄe^e!$?47,59°9TO oharges’ ^ ^ § 3 7 ; net profit due company
r
Th© annual report for 1890 was ¿riven at lAno^-h
^
__
52, p. 716, 719. Earnings of tlm w ^te System fich,din^Ef + 1C ^
l N LE
°
lines, were as below given in 1889 and 1890.
’ ncludmg steamship
Average mileage operated.............................
5?990
6*053
o i S ^ ^
tfiiilio !
Earnings over operating expenses................16,061,536
Trackage and rentals......................................
521,952
17 107 am
^ I t e d i S - " .........................................
17,707,007
16,583,488
Betterments and a
d
d
i t i o
n
s
Diterest on bonded debt.................................. 10,472,892
Rentals, &c...............................
3,109,381
T o ta l.......
.................; .............................15,237,291
509;606
. 1 ,oct’cni
i 0 259 8?9
3 , 569,551
15,329,293
Surplus.................................; .................. im 1.346,197
2,377 713
Of the surplus here shown for 1890 there was due proprietary com
panies for earnings remaining after payment of operating expense
axes and charges, the following amounts: To proprietary companies
Sou thw est P e n n s y lv a n ia .—Greensburg, Pa., to Fairehanoe, Pa..
44 miles, and branches, 60 miles; total, 105 miles. Opened April 1 1873and teased to Pennsylvania Railroad, which operates it at cost nav
mg net earnings as rental. Pennsylvania Railroad owns $1,0577250
of stock and $600,000 of bonds. An increase of stock from $1 000 000
to $3,000,000 was authorized in November, 1889. In 1890 gross earn
ings were $1,051,340; net earnings, $431,369; surplus over interest
and 10 per cent dividends, $218,104. (V. 49, p. 654.)
ST
So u th w estern (G a .)—Owns Macon, Ga., to Eufaula, 144 miles and
branches to Columbus, &c., 189 mites. Leased in perpetuity August, 1
1869, to .the Central Railroad of Georgia, which assumes the liabilities
and guarantees 7 per cent on the stock. In year ending June 30 1890
gross earnings were $1,269,847; net, $276,932.
8
* öyu’’
Spokane F a lls & N orth e rn .—Owns from Spokane Falls Wash
ington to Little Dalles on Columbia River, 127 miles C o S w L
August, J.890. Extensions projected. Mortgage covers entire property!
Manhattan Trust Company, New York, trustee of mortgage -Stock
authorized and outstanding, $2,500,000; par, $100. Treasurer Alfred
C. Chapin, 192 Broadway, New York City.-(V. 48, p. 369! v! 49, p 301.)
Spuyten » u y v i l & Point M o rris.—Road is 6 miles in length and
connects the New York Central & Hudson with the New York & Harlem.
Leased to New York Central November 1,1871, till December 31 1970
Rental is 8 per cent on capital stock of $989,000.
’1 7 '
State L in e & S u lliv a n .—Owns from Monroeton, Pa., to Berenice
Pa., 25 miles, and operates extension to Lopez, 4 miles. Stock, $990,
000 (par, $50.) The mortgage covers 5,000 acres coal lands. Road
leased till 1934 to the Pennsylvania & New York Canal & Railroad
Company; rental, $40,000 per annum.
«**
BONDS.
STOCKS , A N D
R A IL R O A D
S eptember, 1881.1
ia 9
STOCKS AND BONDS.
KA1LK0AD
130
INTESTOKS’
SUPPLEMENT
[ V ol. L i l i .
Subscribers w i l l con fer a great fa v o r b y g iv in g im m ediate notice o f an y e rro r discovered In these T ab les.
Miles
For explanation of column headings, &c., see notes of
on first page of tables.
Boad.
Summit Branch (P a .) —Stock.............
20
1st mortgage, sinking fund, not drawn
20
Sunb'ry Hazle. a Wilkesb.-1 s t, Ser.A&B.,dr. at 10Ö.6
43
2d mortgage, income....................................c&r
43
Sunbury A Lewistown—Stock.......
43
1st mortgage........................................
¿*
43
Suspension Bridge A Brie Junction —i st M.gü bvErie
23
Syracuse Binghamton A New Yorkr- Stock
81
Consol. M. (prin. andint. guar, by D.L.&W.) c*&r
81
Syracuse Geneva A Corning—1st M., s.f.dr’n at par.c
57
2d m ortgage...................
.....c
57
Syracuse Ont. A New York—le t m orifor $1,100,000
45
2d mortgage, income......
45
Mortgage for $350,000......" I " " " . " . " . ’ ! ' . .........
45
Tennessee M idlands- 1st mort., g., $20,006 p m c* 133
’ m2d mortgage, income non-cum. ($10,000 p. m) c* 133
Terre Haute A Indianapolis— Stock.......
0
1st mortgage (provided for by consol, mort.’)". c&r 114
Consol, mortgage for $2,200,000.......
114
Notes issued to St. L. Yandalia & Terre Haute
Ind. &L. Mich. 1st mort., guar., $12,000 p. m c*
4Ó
Terre Haute A Logansp.—1st M., guar, by T.H.&ind.
93
1st M. on Logans, to South Bend (2d on 93 m.)gu.
65
Terre Haute A Peoria —1st mortgage, gold..........c
144
Texas Central—1st mortgage, gold..
¿* 177
N. E. Div. mortgage, gold (2d on 177miies)!” !c*
52
General mortgage (pledged)..........
c* 228
Texas A New Orleans o f ’74—1st mort. iand’ gr.c*&r 104
Sabine Division, 1st mortgage, gold.......
c*&r 104
Debentures............................ .......
Tenets A Pacific— New stock, $50,660,660......... " 1,497
1st M., gold (Eastern Div.), s. f. red. at 1ÖÖ....Ö* 524
■«ft INTEREST OR DIVIDENDS.
Bonds— Princi
Date Size, or
Amount
pal,^When Due,
of
Par
Rate perl When
Bonds Value. Outstanding Cent. Payable Where Payable, and by Stocks—Last
Whom.
Dividend.
$50 $4,010,350
3
F. & A. Phila., 233 S. Fourth St, Feb. 16, 1876=
1874
1,000
1.148.000
7
J. & J.
do
do
1, 1904
1878 100 &c.
1.185.000 5 & 6 M. & N. Philadelphia, Penn. RR, Jan. 1, 1928
May
1878 100 &c.
1.350.000
6
M. & N.
do
do
May 1, 1938
50
600,000
4
A. & O. Phila., Guar. T. & D. Co. Oct. 1, 1891
1876
500
500.000
7
J. & J.
do
do
July 1, 1896
1,000
1870
1,000,000
7
J. & J. N. Y. Lake Erie & West. July 1, 1900’
100
2.500.000
2
Q .-F . N. Y., D. L. & W. RR. Co. Aug., 1891
1,000
1876
1.966.000
7
A. & O.
do
do
Oct. 1, 1906
1875 100 &c.
820,800
7
M. & N. N. Y., Farm. L. & Tr. Co. Nov. 15,1905
1879
1,000
600.000
5
M. & S. N. Y., Gr’dCent. Depot. Mch. 1, 1909*
1883
1,000
900.000
6
J. < D.
fc
1933
1883
500.000
6
1983
4
o (?>
1,000
1887
2.604.000
M. & N.
New York Agency.
Nov. 1, 1937
1,000
1888
1.064.000
i g J. & J.
When earned.
Jan. 1, 1938
50
1,988,150
3
F. & A. N. Y., Farm. L. & Tr. Co, Aug. 1, 1891
1873
1,000
1.600.000
7
A. & O.
do
do
April, 1893
1,000
1885
600.000
5
J. & J.
do
do
July 1, 1925
1890 25,000
327,665
5
(?)
$25,000m’thly
1,000
1889
480.000
M. & S. N. Y., Central Trust Co. Sept.
1939
1,000
1879
500.000
i g J. & J. N. Y., Farm. L. & Tr. Co, Jan. 1, 1910
1,
1,000
1883
1,000,000
6
J. & J.
do
do
Jan. 1, 1918
1,000
1887
1,800,000
5 g M. & S. N. Y., Union Trust Co, Mch. 1, 1937
1,000
1879
2.145.000
V g M. & N. Last paid Nov., 1884. Nov. 1, 1909
1,000
1881
1.254.000
M. & N. Last paid Nov., 1884. May 1, 1911
1884
1,000
2.286.000
M. & N.
None paid.
Nov. 1, 1934
1,000
1875
1,620,000
? s F. & A. N. Y., S. Pac., 23 Br’dSt. Aug. 1, 1905
1882
1,000
2.075.000
M. & S.
do
do
Mch. 1, 1912
100
1883
584.000
6 * J. & J.
do
do
Dee., 1893
100 38,710,900
1,000
1875
3.784.000
6 g. M. & S. N.Y.fMerc.Tr.CoAc Phil. Mch. 1, 1905
orhib.pPv
to Tottenville, 13 miles. Capital stock
f
par
Per share, but being bought by investors
IS&n aaa sil^re
taken as par value, and whole amount as
tn i? 9 1 i
8
+
Isl and Rapid Transit Co. for 99 years from
-T k } $80,600 Per annum, which pays $4 per share on stock
interest on bonds and organization expenses:
lineof road around
r+ e rsi and^orth sides, from Vanderbilt Landing
e’
Staten Island Railway) to a point opposite Elizabeth
oq W^ied tOmiies; leases Staten Island Railway, 13 miles;
J
I* i}as.a 99 years’ lease of the Staten Island
Railway and controls the ferries to New York City. The bridge over the
Ison
+w « completed in 1890, and since July 1.
i 899
entire freight traffic of the Baltimore & Ohio RR. Co. to and
nu?^-R?ie
+lLT°rkp
? een handled by this company. See V. 51, p. 718.
± u© ±>altimore & Ohio guarantees the 2d mortgage bonds of this« company, and owns a majority of its stock of $500,000 (par $100). The
? ?Z ?% b0ndsare heid by the Baitimore & Ohio and the Staten Island
Rapid Transit companies, one-half each.
1891, to July 31, 1891 (1 month), gross earnings
S n ™ l 143*801’ against $146,060 in 1890; net, $78,013, against
<p80,70o. For nine months ending March 31, 1891, surplus over
charges was $24,249, against deficit of $19,032 in 1889-90.
Fiscal year now ends June 30. In year ending June 30,1891, gross
eaynl^ were $ i,030,467; net, $346,326; interest, $185,000; rentals,
w ’ ! 9 o\2 ,8 ;
Qan
f 5r year, $48,476. In 1889-90 gross, $944,419 ;
net, $295,980 . deficit under fixed charges, $2,904.—(V. 50, p. 207,622;
V. 51, p. 172, 609; V. 52, p. 239, 707; V. 5 3 , p.|187.)1
™
>
«
T
t
B ra n c ,i ( P a . ) —This company’s business is almost
in mming coal; it leases the Lykens Valley RR., Millersburg
to Williamstown,Pa., 20 miles, and has a small branch of its own to
a
68’ ^ i0f
Operated by the Northern Central under
contract BennsyivamaRR. owns $2,190,100 stock and$480,000bonds.
m^rom January 1 to Aug. 31,1891 (8 months), gross earnings were
a
f § oZ;oq9’ against $656,873 m 1890; net, $44,435, against deficit,
111 756* Inoludmg Lykens Valley net was $24,793, against deficit,
In 1889 gross earnings were $1,191,142; net, $66.450: deficit under
charges, $14,049. In 1890 gross, $1,123,754; net loss, $20,769; deficit
under charges. $101,199. (V. 46, p. 173, 228; V. 50, p. 230.)
*
r,„SuJ1 u ?7 B a z le t o n & W U k e s b a r r e .—Sunbury to Tomliicken
ob
? a->
“ des. Foreclosed March, 1878. Of 1st mortgage $1,000,000
ifnrff168
®*ock ($1>990»000) and $182,000 lsts (series B) and $488,rS,+niar6«^S2^d
Pennsylvania RR., which pays net earnw fr i a8
8mkmg fund for 1st mortgage now draws about $9,500
bonds yearly at par. Gross earnings in 1890, $547,106; net over
expenses and taxes, $257,199, against $225,392 in 1889; surplus over
fixed charges, $115,099; dividends (6 per cent), $60,00OT J .N .D u
Barry, President, Philadelphia. (V. 48, p. 763; V. 50, p. 702; V. 52, p.
.
Z
g
Dhfs® T^fn 8fn p ïï£ J a-ïïd *“ I ?/)Pmatlon since,
Ju]y 1.1889, from Mem,„enn;,\to PerryviUe, on the Tennessee River, 135 miles (of which
^^ ertA d 6 i r ndupda
+A
r+c?n i*ruction Perry^ville to Nashville, 92 miles.
Projected to Virginia State line (515 miles in all) on a maximum grade
of one per cent. Local aid to the extent of $600,000 was secured
between Memphis and Nashville. See V. 51, p. 8 3 0 .
secure«
a»-«ocPÏÏok *1 .
^
30* in 1891 (10 months), gross earninffs were$183,925, against $171,416 in 1890; net, $56,875, against $48 643
* .i? v 9 i ar
+1 ™ ?
gross earnings were $204,883 ; net,
authorized, $25,000 per mile; outstanding, $3,144,000£ork $ ^ H ^ + St?en0fr?r8l m0T
1p
i
tgage’ Central Trust Company, New
York. President, John Overton, Jr.—(V. 49, p. 227; V. 51, p. 830, 9©8.>
& In d ia n a p o lis .—Owns from Indianapolis to Illi
nois State line, 79 miles, with coal branches, 41 miles; total 120 m
iles
Leases ^erre Haute &Logansport RR., 183 miles; St. Louis Vandalia &
■
158 miiesT Indiana & Lake Michigan Rltî, Souto Bend
Q?d T «°
J °8®Pk harbor, Mich., 40 miles; total, 501 miles. Leases thé
®^v.L/1 1 xJ ^ d alla;& Terre Haute RR. (which see) on joint account
U8 -Y
vrith the Pittsburg Cincinnati Chic. & St. L. RR., at 30 per cent of eross
earnings, but guarantees the 1st and 2d mortgage bonds In 1^90 a
fYYo
settl|meaî ^ as made with the St. Louis Vandalia & Terre Haute
8 da+ tkat company, by the payment of $287,157 in cash and
e
no^es’ Payable $25,000 monthly, beginning with August 1
^ 1Sa+ I? pa? y owns $500,000 common and $326,000 prêerreci
C
O
stock of the St. Louis Vandal. & T. Haute. The Indiana & Lake Michteln
is leased for 99 years and its bonds guaranteed, principal and interest
i Bl. i4ends since 1876 have been: In 1877, 6 per cent; from 1878 to
v
^8
t«4A/ftClu81ve’ + from 1885 to August, 1891, both inclusive, at t S
8:
rate of 6 per cent per annum.—(V. 50, p. 275.)
AoÎS. year eiid^
Ii? October 31, 1890, gross earnings, $1,213,619 • net
f^ Z Uni 8 a^d other receipts, $419,47?, against $l30;643 in l888-89mterest and 6 per cent dividends, $261.289 ; loss on Terre Haute ^
*i°fn1
iyî?rt and+ $42,460 & Lake Miciiigan was $18,011; surplus
$140,175, against £ 4 • in 1888-89.
’
’
p
T e r r e H a u t e & L o g a n s p o r t.—Owns from South Bend Ind ta
Rockville, Ind., 160 miles; leased Rockville to Terre Haute, 22 miles^ ® pera^ d{.183 mdc®- Formerly Logansport Crawfordsville & South
western, which was sold m foreclosure September 10,1879 and reor*gamzed under present name. Leased by Terre Haute & Indicia
99 years from December, 1879, at 25 per cent of gross earnings
and first mortgage bonds guaranteed by that company Stock ‘fi'soo '
000 ; par $50. Rental in 1888-89, $142,284; loss to lessee $26 894 "
rental in 1889-90, $148,538 ; loss to lessee^ $1,766
’ ^ 6’894 ’
T e r r e .H a u te & P e o r la .- f^ e e Map .)—Road operated from Terre
Hate, Ind., via Decatur, to Peoria, 1 1 173 miles, of which 144 miles are
1 .,
owned and 29 nnles is by trackage over other roads. Formed in Janu
ary, 1887, as successor of the Illinois Midland. Stock is $2,160 OOOnreferred 6 per cent non-cumuiative and $3,240,000 common; par $100
The bonds were issued to pay off receiver’s certificates and to furnish
money for steel rails, equipments, &c. In year ending March 31 18 9 0
h e w i s t o w n . - Selinsgrove Junction to Lewistown, Pa., gross emnmgs were $323,776; net, $94,096; interest, $90,000 ; surplus
roa(f f<fr iS S IS iiS i 9.9 years from July 1,1876, to Pennsylvania Rail- $4,096. In calendar year 1890, gross $352,098; net, $92,392 ; surplus
“ i oon* carnmgs, which in 1886 were nym mterest, $2,392. 0. W. Fairbanks, President, Indianapéüs! lnd!
1890 ^
n S ^ ’^ ^ “ 1891, 3
,8’^ !28»619; in 1889,$154,179; in
1890, $224,967. 8 Dividends—In ^ 8 Oct., 4 per cent.
T e x a s Central.—Line of road from Ross, in McLennan County to
+„^“ .8P en8*o a B r id g e & E r ie Ju n ction .—East Buffalo Junction Albany, Texas, 177 miles ; Gairett to Roberts, 52 miles ; total, 229 orties
Defaulted in interest m 1885 ; property sold in foreclosure April 22
RaiSoadUefsed8 1 ? '^ n e fP+n+1
8 i°n Br? g?’ 23 mUes; Lockport & Buffalo 1891, and purchased by Charles Moran, C. B. Gould and H K McFfart
arv 18 7 1 1 TMs
37 “ Res. Roacfopened Janu
ary, 1871. It is leased to New York Lake Erie&Western Railroad Com of N. Y., for $750,000. In September, Î891, the t e r Z of fa te hiring
Pany at 30 per cent of gross receipts, which are guaranteed to be not been complied with, appheation was made to the U. S. Circuit Court
for possession of the property, then operated by the Houston & Texas
of the sto1
^$500?000°ndS’ $70’000 per ammm- Lessees own $203,000 Central. In 1890, gross, $304¿327 ; deficit under operating expenses
d 160
Syracuse B in g h a m to n & N e w Y o r k .—Owns from Geddes N and taxes, $38,874, against net of $20,248 in 1889.—(V 48’ P' lbU’- v
'
Y., to Binghamton, N. Y 81 miles. Chartered as Syracuse & Bingham- 52, p. 165,204, 499, 609, 681.)
T e x a s & N e w O rlea n s ( o f 1 8 7 4 ).—Houston, Tex., to Oranc-e
ton, and opened October 18,1854; foreclosed and reorganLed April 30
1857, and controlled by Delaware Lackawanna & Western. From Julv (Sabine River), 104 miles; and Sabine City to RocMand. 104 mileaZ
1,1890, to March 31,1891 (9 months), gross earnings were $6 2 4
total, 208 miles. Belongs to the Huntington Southern Pacific system’
against $645,829 in 1889-90 ; net $28^201, a S t f 290 808 ™ i u s together with the Louisiana Western. This was a reorganization 1 874 '
O
over charges, $152,268, against $155,446. In year 1889-90 Vrnsi of the old Texas & New Orleans Railroad. The stock, is $5 000 O O all
$856,594; net, $411,282; cnarges, $180,267; dividends (8 per cent/ but $2,500 of it being owned by the Southern Pacific. In add^oC to
goO.OOO; balance, $31,015.-(V. 49, p. 174, 617, 7 “
51, p 3 4 5 ^ ’ above bonds there are $431,232 Texas School bonds. Subsidy Ian da
O S p. ZoU, 7 U 7 . J
d9
9 * Jan. 1,1891, were 730,220 acres; other lands 114,481 acais
7
“
From January 1 to July 31, 1891 (7 months), gross^ earnimrs were
Syracuse G en eva & C o rn in g.—Owns from Comine N Y tn
$890,689, against $1,036,951 in 1890 ; net, $355,418 agaims™ ! ^ ! ! ! 5
Geneva, N. Y., 58 miles, and Penn Yan to Dresden, 6 miles’ ; total ’ 64
Gross earnings In 1889 were $1,747,805 ; net, $707,222. In 1890
miles. This road was opened December 10,1877, and is leased to th*
'
Fall Brook Coal Company at a rental of 3 3 13 per cent of its gross earrf gross, $1,871,818 ; net, $879,747 ; surplus over charges, $562,865.
T e x a s & P a e lfic .—(See M a p .)— Owns: Eastern Division—Pto™
ings. Stock is $1,325,000 (par $100), of which New York Central^
Texarkana to Fort Worth, via Whitesboro, 244 miles Texarkana to n ?
Hudson River owns $662,600, besides $113,000 7 per cent bonds
,
1889-90 gross earnings were $636,906; net, $104,697; rental to Svra tion to Fort Worthl via Marshall 248 miles; Marshal’ to^Shreveport;
40 miles ; total eastern division, 532 mites. Rio Grande Division—Fori
$117,7576V(V * 9 ° p ^ i ’) $212’302; taxes’
deficit to lessee! Worth to Sierra Blanco, 524 mites; Sierra Blanco to El Paso itetet
Syracuse O ntario & N e w Y o r k .—Owns from Syracuse, N. Y to track), 92 mites; Gordon Branch to coalmines, 3 mites- total m o
Eariville, N. Y., 45 miles. The road was twice sold in foreclosure and Grande Division, 619 miles. New Orleans Division—Formerly (New Orreorganl»«u under present name in 1883. The West Shore acquired con 1 sans Pacific Railroad)—Shreveport to New Orleans, and Baton Rouee
«ou ge
trol of the property. It is proposed to issue $350,000 4 per cents Stork bi-Hiion, 346 miles. Total of all, 1,497 miles.
The Texas & Pacific was built under act of Congress of Mareh 3 1
authorized, $750,000; outstanding, $446,000—par, $100. In year end1871, and other acts in 1872 to 1874, and the laws of Texas
°û
30’ 1890> gr°ss earnings were $117,134, net, $9,639In 1888 the company was reorganized pursuant to the plan in V 43
deficit under charges, $44,360, against $46,762 in 1888-89.
*
’
p. 164 and V . 45, p. 401, without having the Court confirm the sale in
S e p t e m b e r , 1891. J
KAILROAD
STOCKS
AN D
BONDS
131
132
IN Y E S T O K S ’
SU PP LE M EN T.
[V ol . L IU ,
Subscribers w ill con fer a great fa v or by g iv in g Im m ediate notice o f any error discovered In these Tables';
INTEREST OR DIVIDENDS.
(Ronds—PrinclRAILROADS.
Miles Date Size, or
Amount
Par
of
When
For explanation of column headings, &c., see notes of
Outstanding Rate per Payable Where Payable, and by Stocks—Last
Road. Bonds Value.
Whom. ,
Cent.
Dividend.
on first page of tables.
Texas & Pacific.—( Concluded.)
1st consol, mort. for $25,000,000, gold........... c* 1,497
: 2d consol. M.,income,non-cum.($25,000,000),g.c* 1,497
46
Tioga RR. —1st M., due 1882 and extended, gold—
46
Third-rail m ortgage..........................................
46
Extension bonds...............................................
7
Elmira State Line Railroad 1st mortgage, guar..
Tol. A. A. & Gr.Tr. (South Div.) 1st mortg., gold.
; Tol. A. A. & N. M. 1st M. g.,A.A.to St.Louis,Mich.
ToL A. A. & Mt. Pleasant 1st mortgage, gold..c*
1 Tol. A. A. & Cadillac 1st mortgage, gold........ c*
Tol. A. A. & L. Mich. IstM., Cadillac to Copemish.
Consol mortgage for $10,000,000, gold........... c*
3
Toledo col. < Cinn.— 1st mort., gold(for$2,500,000)
fi Preferred stock.: ...................... ........................
1st mortgage, gold.............................. ............. .
Toledo & Ohio Central Ex tens.—Mar. Mineral 1st M ..
\ Consol, mortgage, gold, for $1,500,000........... c*
1st mortgage, new (for $5,000,000).............. c*
Scrip for coupons in 1888 (payable at w ill)........
63
106
21
63
40
256
197
45
60
230
230
230
1888 $1,000 $21,049,000
1,000 23,227,000
1888
1852 500 &c.
239,500
1,000
1876
. 125,000
1,000
1875
265,000
1875 500 &c.
160,000
100
6,200,000
1,000
1881
1,260,000
1,000
1884
2,120,000
1,000
1886
400,000
1,000
1886
1,260,000
1,000
1889
600,000
1,000
1890
666,000
1,000
1889
800,000
100
4.849.000
100
3.706.000
1,000
1885
3,000,000
’87-90
579,065
1885 100 &c.
650,000
1,000
1888
850,000
100
4,500,000
1,000
1887
4,800,000
1888 Various
135,000
5 g. J. & D. N.Y.Mcr. Tr. Co.,& Phil.
None paid.
5 g. Mch. 1.
5 g- M. & N. Phil.,Newbofd’s Son&Co
7
M. & N. N. Y., N. Y. L. E. & W.
7
A. & O. Elmira,ChemungCo.Bk.
7
A. & O.
do
do
June
Dee.
Nov.
Nov.
Oct.
Oct.
1,
1,
1,
1,
1,
1,
2000
2000
1915
1896
1905
1905
Jan. 1, 1921
May 1, 1924
Sept. 1, 1916
Mch. 30,1917
July 1, 1919
Jan. 1, 1940
July 1, 1939
Aug. 15,1891
Oct. 15,1891
do
do
1^
Q.-J.
July 1, 1935
do
do
5 g. J. & J.
By installm’ts.
Quar.
6 g- M. & N. N. Y., Coffin & Stanton. May 1, 1915
do
do
Nov. 1, 1938
5 g- M. & N.
6 g.
6 g.
6 g.
6 g.
6 g.
5 g.
5g.
J.
M.
M.
M.
J.
J.
J.
&
&
&
&
&
&
&
J.
N.
S.
S.
J.
J.
J.
N. Y., Farm. L. & Tr. Co.
N. Y., Central Trust Co.
N. Y., Office, 150 B’way.
do
do
do
do
N. Y., Farm. L. & Tr. Co.
N. Y., Central Trust Co.
4 g. J. & J. N. Y., Moran Brothers. JulV Ï, Ï917
4
April. N. Y., Farm. L. & Tr. Co. Apr. 1, 1893
oreclosure made in November, 1887, thus preserving the original Fed- $12,078, against $7,654. In year ending June 30,1891, gross earnings
were $324,677; net, $119, 203. In 1889-90 gross, $294,319; net,
A t the reorganization a land trust was formed. See in this S u p p l e $142,583. Stevenson Burke, President. (V. 49, p. 3 7 4 .)
m e n t under the title Texas Pacific Land Trust in “ Miscellaneous
Toled o & Ohio C e n tra l.—(See Map )—Owns from Toledo, O., to
Companies.”
Trustee of first mortgage of 1888 is Fidelity Insurance Trust & Safe Coming, 184 miles,including 12 miles leased; Thurston to Columbus,
29 miles, including 5 miles leased; total owned, 197 miles. Leases also,
Deposit Co., of Philadelphia; of second mortgage of 1888 Mercantile
.Trust Co., of New York. The 2d mortgage bonds contain the following Corning to Jacksonville, 1 0 miles; Glouster to Carrington, 1 1 miles;
clause: “ On and after March 1,1892, the trustee of the mortgage total leased, 38 miles; total operated, 235 miles.
This company was formed after sale in foreclosure of the Ohio Central
securing these bonds, in case of non-payment of full interest at 5 per
cent per annum, shall, on request of the holders of not less than one- main line on April 15, 1885. In October, 1890, a large interest in the
Kanawha & Michigan (which see) was acquired, and in February, 1891,
third of the bonds outstanding, enter into possession of the mortgaged
property and manage the same under the direction of a committee ap it was agreed to guarantee its bonds, principal and interest. See V. 51,
pointed by a majority of the bondholders, until payment of interest in p. 457; V. 52, p. 165,351. The preferred stock outstanding is $3,705,000;
full.” (See mortgage abstracts, C h r o n i c l e , Y. 47, p. 82.) There are common, $4,070,600; par both, $100. Common stock was increased in
also a Texas school loan of $150,000, for which $167,000 consolidated February, 1891, from $1,849,000 to $4,849,000, but $778,400 of this is
in the company’s treasury. The preferred Is entitled to 5 per cent non5s are reserved, and $99,000 old bonds unredeemed.
Stock authorized, $50,000,000; outstanding, $38,710,900, of which oumulative, then common to 5 per cent, then preferred to 2 per cent,
then common to 2 per cent, after which both share equally.
Missouri Pacific on July 1,1890, owned $6,525,000.
Dividends on common: In 1891, May, 1 per cent; Aug., 1.
Price of stock since May 9,1888, (new stock)—In 1888, 187
8®26%;
Dividends on preferred
l ^ per
June,
per
in 1889, 17V®23; in 1890, 1 2 @2 4 12 ; in 1891, to Sept. 18 inclusive, oent; October, 1%; in 1891,in 1890, April,April, l ^ ;cent; l^ p e r1cent.
January, H 4 ;
July,
Price of common stock: In 1886, 2 6 ® 3 8 12 ; in 1887, 20®35; in 1888,
From January 1 to Aug. 31, 1891 (8 months), gross earnings were
23®35; in 1889, 30®40; in 1890, 42^@68Lj; in 1891, to Sept. 18
$4,159,215, against $4,289,329 in 1890.
Annual report for 1890 was in the Chronicle , Y. 52, p. 461, and gave inclusive, 45® 61.
Price of preferred stock: In 1886, 4 6 J ® 6 3 12 ; in 1887, 40®583 ; in
4
s
extended remarks upon the operations of the road.
1888, 35®56; in 1889, 50®731 ; in 1890, 68 ^ 9 5 ; in 1891, to Sept.
a
INCOME ACCOUNT.
18 inclusive, 78®88.
The first mortgage is for $5,000,000, but no more than $3,000,000 can
1889.
1890.
1888.
be issued except by consent of three-fourths of the present bondholders.
Receipts—
$
$
$
6,917,802
7,327,711 The Columbus & Hocking Valley RR. Co. endorsed on the bonds their
6,374,386
Total gross earnings...............
1,467,006 guaranty of the interest, but in September, 1891, notified the Toledo &
1,671,744
.1,302,717
Net earnings....... ......... ,...... .
151,156 Ohio Central that the guaranty would be disregarded as no considera
. 130,936
178,909
Other receipts.........................
tion had been given. See C h r o n i c l e of September 26. V. 40, p. 597.
From July 1,1891,to July 31,1891 (1 month), gross earnings were
1,618,162
.1,433,653
1,850,653
Total income.....................
$136,708, against $143,974 in 1890; net, $51,609, against $58,914.
Deduct—
Fiscal year ends June 30, advance statement for 1890-91 was in V.
109,665
94,978
Rentals and sundries..............
1,279,490 53, p. 186. Report for 1889-90 in C h r o n i c l e , Y. 51, p. 415.
1,279,490
Interest on debt......................
243,694
Surplus for year...............
461,498
174,164
390,383
New equipment and real estate.
Balance.................... . . . . . .
287,334 def.146,689
—(V. 50, p. 350; V. 51, p. 681 ; V. 52, p, 121, 461 ; Y. 53, p. 257.)
T h ir d A ven u e.—See “ Miscellaneous Securities.”
T io g a . —State line junction, N. Y., to Hoytville, Pa., 61 miles, and
Blossburg, Pa., to Morris’ Run, Pa., 3 miles, of which is leased Elmira
State Line Railroad, State line New York to Northern Central Railway
Junction, 7 miles; and Arnot & Pine Creek Railroad, Am ot Junction to
Hoytville, Pa., 12 miles. Controlled by New York Lake Erie & Western.
In year ending June 30,1890, gross earnings were $297,791; net, $67,923; interest, $50,475; rentals, &c., $20,953; deficit, $3,505. The stock
is $391,200 common and $189,700 preferred; par, $50.
Toled o A n n A rb or & N orth M ic h ig a n .—(See M ap .)—Owns
from Toledo, O., to Copemish, 276 miles, and branch to Macon Stone
Quarry, 3 miles; total owned, 279 miles. Leases Frankfort & South
eastern Railroad, Copemish to Lake Michigan, 23 miles. Total operated,
302 miles. It is proposed to build an extension 140 miles in length
from Marion to Mackinaw. See V. 52, p. 641.
Capital stock is $6,200,000; par, $100; car trust debt, $150,000. The first mortgage of 1881 covers the Southern Division, formerly
called the Toledo Ann Arbor & Grand Trunk Railroad, and the mortgage
of 1884 covers road between Ann Arbor and St. Louis, Mich. Under
the consolidated mortgage of 1890 (trustee, Faru ers’ Loan & Trust
Company), sufficient bonds are reserved to replace di visional securities
when due, and the remainder are to be issued for new road at $18,000
per mile of new lines, with $500,000 for terminals, &c., but limited to
$10,000,000 in all. (See V. 50, p. 423.)
From January 1 to July 31,1891 (7months), net earnings on 286
miles were $214,811, against $231,688 in 1890. Fiscal year ends Dec.
31. Report for 1890 was in V. 52, p. 641.
1887.
1888.
1889.
1890.
Average mileage......................
234
250
286
$
$
$
$ —
Gross earnings.................535,752
687,579
1,014,307 1,127,208
Oper’g expenses and taxes.342,606 433,392
686.205
728,921
INCOME ACCOUNT.
1887-88. 1888-89. 1889-90.
1890-91.
$
$
$
$
Gross earnings.................1,167,576 1,163,817 1,388,749 1,501,822
Net over op. ex.and taxes. 360,827
344,526 545,639
468,015
Other income........ .........................
22,084 30,760
33,018
Total....... ..................... 360,828
Deduct—
Interest on bonds............. 150,000
Interest on car trusts.......
35,628
Rentals........................... *13,979
Dividends.............. .........................
Miscellaneous..................
16,070
Total........................... 215,677
Balance, surplus.............. 145,151
366,610
576,399
501,033
150,000
37,088
29,256
..........
438
150,000
31,636
30,133
92,625
555
150,000
36,878
33,019
167,966
14,802
216,782
149,828
304,949
271,450
402,665
98,368
* Balance of rentals paid over rentals received.
-(V . 49. p. 372; Y. 51, p. 303, 41 5, 457; V. 52, p. 165, 351, 498; V.
53, p. 186.)
T oled o & Ohio Central E x te n sio n .—f»See Map .)—Owns from
Marietta to Newton, Ohio, 45 miles, connecting with the Toledo* Ohio
Central main Line; branches to Stewart, etc., 15 miles; trackage Marietta
to Moore’s Junction, Ohio, 3 miles. Total, 6Ajniles. Purchased the Mari
etta Columbus & Northern in 1888 and completed extension to Newton
in 1890. Consolidated mortgage issued to build extension and for
equipment and $650,000 held in escrow to pay off the Marietta Col
umbus & Northern 1st mortgage at maturity. Of these bonds $300,000 (Nos. 1 to 300) have interest guaranteed by the Toledo & Ohio
Central (main line). Stock is $1,500,000; par, $100. In 1890 gross
•amings, $109,312; net, $58,036; against net of £47,697 in 1889.
Toled o P eoria & W e ste rn .—Owns from Indiana State line
to Warsaw, 1 1 220 miles; branch, La Harpe to Iowa, 11 ., 10 miles;
1 .,
1
trackage to Peoria and to Burlington, la., 17 miles; total operated,
247 miles. This was formerly the Toledo Peoria & Warsaw, then the
Toledo Peoria & Western, and was leased to Wabash; sold in foreclos
ure October 29, 1886. Stock, $4,500,000; par of shares, $100.
Net earnings......... .....193,146
254,187
328,102
398,287 Abstract of mortgage (Charles Moran, Thomas Denny and Cornelius B.
Interest on debt.'.............. 184,800
236,800
294,800
340,200 Gold, trustees) Y. 45, p. 242. The company funded part of coupons m
Miscellaneous................................................
..........
4,160 1888 in 4 per cent scrip certificates due April 1,1893, but redeemable
at option of the company.
From July 1,1891, to July 31,1891 (1 month), gross earnings were
Surplus for year............. 8,346
17,387
33,302
53,927
$84,639, against $67,953 in 1890; net, $21,639, against $13,948.
James M. Ashley, President, 150 Broadway, New York. (Y. 50, p.
The comparative results for four years past are as follows:
423, 558; V. 51, p. 143, 459, 715, 753; Y. 52, p. 165, 428, 641, 796.)
Deficit.
Earnings. Net Revenue. Int.& Taxes.
Surplus.
T o led o C olu m b u s & C in cin n a ti.—Owns from Toledo to Kenton,
88...$948,524$233,791
$214,707
$19,084
O., 72 miles, and in progress, via Marysville, to Columbus, O. This was 1887$16^883
..........
208,193
225,077
the Toledo Columbus & Southern, foreclosed October 16,1888. Stock, 1888-89... 903,936
1889-90... 938,830
227,635
227,205
430
$2.400,000; par. $100.
243,566
230,263
13,303
From July 1, 1891 to July 31,1891 (1 month), gross earnings on 1890-91... 926,548
72 miles were $27,946, against $25,327 on 72 miles in 1890; net, —(Y. 49, p. 503; Y. 51, p. 303, 456; Y. 53, p. 407.)
September, 1891.]
R A IL R O A D
Subscribers w ill confer a great favor by
STO CK S
AND
133
BO N D S,
iv in g im m ed ia te notice o f an y error discovered in tbese T a b les.
INTEREST OR DIVIDENDS.
i^n^i^PH n ctRAILROADS.
--------------------------------------------1 When Due.
pal,
MUes Date Size, or
A m ou nt
T?
HAT When ¡Where Payable, and by Stocks—Last
of
Par
of
For explanation of column headings, &c., see notes
Dividend.
Whom.
Road. Bonds Value. Outstanding “ p ™ ? Payable
on first page of tables.
$100
451
100
Preferred stock, 4 per cent, non cumulative....... 451
451 1886
1,000
1st mortgage, gold (redeemable at 105)....... --0
1,000
96 1888
loledo Saginaw < Muskegon—1st mortgage, gold..
6
1,000
60 1881
Tonawanda Valley <t Cuba —1st mortgage........ .
1,000
26 1883
Traverse City R R .— 1st mortgage.......... .
10 1887 50Ó &o.
Tucson Globe N, A r .—
-1st M., g. s. f. (red. at 110)c
1,000
78 1888
Ulster < Delaware— Consol. M. for $2,000,000, g..c
6
100
Union Pacific —Stock.......................................
1st mortgage, Omaha to near Ogden, 1,035 miles 1,035 1866-9 1,000
2d mortgage, currency (Government subsidy).... 1,035 1866-9 1,000
1,000
3d M. on road (2d on land) g.,$&£,s.f.notdr’n.c<fcr 1,035 1874
4 1871
£200
Omaha bridge bonds (s. f. drawn at 110)......c*<fer
4 1885
1,000
Renewal (sinking fund, not drawn)............... c
1,000
1879
Collateral trust bonds, gold, s. f. drawn at 105.c*
1883
1,000
Collateral trust bonds of 1883, gold, s. f. not dr’n
1,000
Denver L’dv. & Gun. collat. trust ($3.250,000). .c* 325 1889
1,000
1887
Equip, bonds Series A, Mo due yearly in Oct .. c*
1,000
1888
Do
Series B, i i 0 due yearly in April—
1890
1,000
Do
Series C, M0 due yearly in October.
1,000
Kansas Pao. Eastern Div. IstM., $16,000 per mile 14Ó 1865
1,000
Middle Div. 1st mortgage, $16,000 per mile, g. 253 1866
loledo St. Louis < Kansas C ity — Common stock.. 6
T o le d o St. L o n ls Sc K a n s a s City.—From Toledo to East
St. Louis, 451 miles. In June, 1890, the work of standard gauging
the road was completed. This company was formed June 12,1886.
by consolidation, and it took all the main line of the Toledo Cincinnati
< St. Loris narrow-gauge road, foreclosed December 30,1885.
&
The common stock is $9,231,000. The preferred 4 per cent stock of
$5,305,000 is a coupon stock, non-cumulative, and without voting power.
The bonds are for $20,000 per mile, and have a first lien on all rolling
stock and the terminal property at Toledo and East St. Louis. They
are redeemable at 105 and interest upon six months’ notice, but not less
than the whole issue can be called for payment. Abstract of mortgage (Farmers’ Loan & Trust Company of New Yorx and Joseph E.
McDonald, trustees) in V. 45, p. 403. From July 1, 1891, to
1891 (2 months), gross earnings were $385,618, against $267,302
in 1889-90. In year ending June 30, 1891, gross earnings were
about $1,680,282; net over expenses and taxes, $571,766. In 1889-90
gross, $1,460,050; net over expenses and taxes, $470,352. New York
office, 44 WaU Street. (Y. 50, p. 861,835; V. 51, p. 241, 863; V. 53, p.
126,368.)
T o ledo S a g in a w Sc OTuskegon.—From Muskegon, Mich., to Ash
ley, Mich., 96 miles, connecting with the Toledo Ann Arbor & North
Michigan. On August 1,1888, the Grand Trunk of Canada purchased
the $1,600,000 stock and above bonds were issued having a traffic guar
antee from that road and the Chicago & Grand Trunk. In 1890 gross
earnings were $110,552; net, $19,127; interest, $78,000.
"T o n a w a n d a V alley Sc C uba.—Owns from Attica, N. Y., to Cuba,
N. Y., 60 miles, of which only 30 miles, Attica to Sandusky, is operated.
Stock is $587,100. Receiver was appointed in 1884, and road sold m
foreclosure January 19,1891. Concerning suit against New York Lake
Erie & Western, see V. 51, p. 569, under heading Bradford Eldred &
Cuba. Gross earnings in 1889-90, $12,915; deficit, $6,096. (V. 48, p.
562; Y. 52, p. 165; V. 53. p. 187.)
Traverse City.—Owns Walton Junction, Mich., to Traverse City,
Mich., 26 miles. Leased to Grand Rapids & Indiana till January 1,
1933 ; rental, net earnings, which are guaranteed to be not less than
interest on first mortgage. There are also $190,000 of 5 per cent in
comes due January 1,1933. Stock, $205,000; par, $100. In 1890 gross
earnings were $45,449; net, $5,232; interest, $7,500; loss $2,268
against surplus of $16 in 1889. ■ U o
n
y
¿¿¡»i*
" T u c so n Globe Sc N orthern A rizo n a .—Projected and under con
struction from Tucson, Ariz., on S outhern Pacino RR., to Globe, 110
miles, with branch to coal fields, 20 miles. Mortgage is for $20,000 per
mile.
U lster Sc D ela w a re .—Owns from Rondout (Hudson River), N. Y.,
to Stamford, N. Y., 74 miles; branch to Hobart, 4 miles; leases Dela
ware & Otsego RR., Hobart to Bloomville, 9 miles ; total, 87 miles.
In 1890 parties interested in the New York Central and Delaware &
Hudson came into control. An extension from Hobart to Oneonta
is being built under the charter of the Delaware & Otsego RR. Stock au
thorized, $3,000,000; outstanding, $1,664,100; par, $100. Finances
readjusted in 1888 and consolidated mortgage issued to retire old 7 per
cents. The balance of consols unissued is reserved for future extensions.
From January 1 to July 31, 1891 (7 months), gross earnings were
$207,066, against $199,632 in 1890 ; net, $67,625, against $72,103.
In year ending June 30,1891, the gross earnings were $376,144 ; net,
$139,885. In 1889-90 gross, $360.068; net, $138,351; surplus over
charges, $51,916. (V. 51, p. 172, 241.)
U n io n Pacific R a ilw a y .—(See Map .)—Lines owned directly.—
Main line (former U. Pao. RR.) Council Bluffs to Ogden and branches,
1,038 miles; former Kansas Pacific Railway, Kansas City to Denver,
643 miles, and Leavenworth to Lawrence, 34 miles ; former Denver
Pacific Railway, Denver to Cheyenne, 106 miles ; total owned, 1,822
miles.
„
,
The “ Union Pacific System” on January 1,1891, was made up of
the following lines :—
Miles.
Union Pacific..................... 1,822 ‘ Kansas City & Omaha......... 193
Denv. Leadville & Gunnison 324 *Un’n Pac. Denver & Gulf... 945
Kansas Central................... 165 *Ft. Worth & Denver City--- 469
Omaha & Republican Val.... 482 *U. P. Lincoln & Colorado... 225
‘ Oregon S. L. & Utah Nor..... 1,421 Six small roads.................... 269
‘ Ore. R. & N. Co.’s, rail lines. 1,029
‘ St. Joseph & Grand Isl’d .... 252
Total “ Un. Pao. Sys.” .. .7,598
‘ These properties, having securities of their own held by the public,
are separately described in this Su pplem ent ,
Also controls the Central Branch Union Pacific and leased lines (388
miles) which are operated by the Missouri Pacific under an
agreement with Union Pacific for twenty-five years from 1885.
Also owns jointly with other companies the Leavenworth Topeka &
Southwestern, 47 miles; Manhattan Alma & Burlingame, 56 miles;
Montana Union, 72 miles; grand total of all lines, including one-half
lines operated jointly, 8,073 miles.
Org an ization , &c .—This company, the Union Pacific Railway, was
formed by a consolidation, January 24,1880, of the Union Pacific Rail
road and the Kansas Pacific and Denver Pacific, made under authority
$9,231,000
5.305.000
9,000,000
1.560.000
500.000
250.000
165.000
1,342,600
60,868,500
27,229,000
27,236,512
6.162.000
887.000
734.000
3.931.000
5.008.000
2.058.000
502.000
1.473.000
389.000
2.240.000
4.063.000
6 g.
5
6
3
7 g.
5 g.
1%
6 g.
6
8
8 g.
5 g.
6 g.
5 g.
41
ag.
5
5
5
6 g.
6 g.
J. & D.
J. & j .
M. & S.
J. & J.
J. & J.
J. & D.
Q .-J .
J. & J.
J. & J.
M. & 8.
A. & O.
A. & O.
J. & J.
J. & D.
M. & N.
A. & O.
A. & O.
A. & O.
F. & A.
J. & D.
N. Y., Bk. of No. Amer.
N. Y., Oifice, 271 B’way.
Last paid March, 1884.
N. Y., Winslow, L. & Co.
Bos.,Am.L.&Tr.Co; Lon
N. Y., Central Trust Co.
N. Y., Un. Trust & Bost.
do
do
U.S. Treas., at maturity.
N. Y., Un. Trust & Bost.
London & N. Y., Uh. Tr.
N. Y., Union Trust Co.
do
do
Boston, N. Eng. Tr. Co.
N. Y., Un. Trust & Bost.
do
do
do
do
do
do
June 1, 1916
July 1, 1918
Sept. 1, 1932
Jan. 1, 1933
July 1, 1917
June 1, 1928
Apr. 1, 1884
1896 to 1899
1896 to 1899
Sept. 1, 1898
Apr. 1, 1896
Oct. 1, 1916
July 1, 1908
Dec. 1, 1907
Nov. 1, 1918
Mo yearly Oot.
i I0 yearly Apr.
i 10 yearly Oct.
Aug. 1, 1895
N. Y., Union Trust Co, June 1, 1896
of the acts of Congress of July 1,1862, and July 2, \864. The Union
Pacific Railroad was chartered by Act of Congress of July 1,1862,
which gave the oompany a land grant of 12,800 acres per mile, esti
mated at a total of 12,083,227 acres, and a subsidy in United States
bonds of $27,236,512 on 1,033 miles of road.
The Kansas Pacific was organized as “ Leavenworth Pa wnee & West
ern” in 1861 ; then changed to “ Union Pacific, Eastern Division,” June
6,1863, and to “ Kansas Pacific” on March 3,1869. The Pacific Rail
road acts of 1862 and 1864 applied to this road, and gave it a subsidy of
$6,303,000 and a land grant of about 6,OOO,OO0 acres.
In 1886 a lease of the Oregon Railway & Navigation RR. to the Ore
gon Short Line, guaranteed by Union Pacific, was negotiated (see V. 48r
p. 261.)
-V
g
In November, 1890, there was a change in the management of the
Union Pacific, Mr. Sidney Dillon replacing Mr. Adams in the Presi
dency and. Messrs. Jay Gould, Russell Sage, H. B. Hyde and A. E. Orr
becoming directors. See V. 51, p. 748.
As to the debt of the Pacific railroads to the United States Govern
ment, a decision of the United States 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
earnings and 5 per cent of net earnings, after deducting interest on
first mortgage bonds; Second—To be placed in the sinking fund—the
other hair 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 January 1,1891, tne sinking fund, in
vested in RR. and U. S. bonds, (par value) was $9,368,400, and the pre
mium paid on bonds and cash uninvested was $1,737,092 ; total, $11,105,492. The debt to the United States at that date was thus stated :
Principal, $27,236,512 ; interest accrued and not paid, $817,095 ; inter
est paid by United States, $36,397,185 ; repaid by Union Pacific, $12,999,510; balance of interest paid by United States, $23,397,675.
For Omaha bridge decision rendered in July, 1891, see V. 53, p. 157.
Sto c k and B onds .—The capital stock issued and outstanding is $60,868,500, having been increased about $10,000,000 since the consolida
tion in 1880.
Dividends since 1879—In 1880, 6 per cent; in 1881, 6% ; in 1882, 7;
in 1883, 7 ; in 1884, 3*2; none since.
Price of stock-In 1880, 80®113%; in 1881,105^131% ; in 1882,
981
4®119%; inl883, 701 ® 104%; in 1884,28®845s; in 1885,41®62%;
s
in l S S e ^ ^ e S ^ ; in 1887,44®63% ; in 1888,48®66^; in 1889, 56^
®711 in 1890, 40®687 in 1891, to Sept. 18, inclusive, 32%®52ie;
4;
s;
There are $18,000 Leavenworth branch 7 per cent bonds due January,
1896, and $4,000 Denver Pacifto bonds.
The Union Pacific collateral trust 6s are limited to 80 per cent of thè
following bonds : Omaha & Republican Valley RR,, $935,000 ; Colorado
Central RR. bonds, $1,895,000 ; Utah Northern RR., $2,149,000 ; total,
$4,979,000. The collateral trust 5s of 1883 are secured by the following
bonds: Colorado Central RR., $1,268,000; Utah & Northern RR., $2,027,000; Omaha & Republican Valley Railroad, $622,000; Omaha <
fe
Republican Valley Railway, $1,961,000; Utah Southern RR. extension,
$85,000; total, $5,963,000.
The collateral trust bonds of 1889 on Denver Leadville & Gunnison
Railroad (formerly Denver South Park & Pacific) are secured by mort
gage bonds on that narrow-gauge road at $11,000 per mile, $22,200 per
mile being authorized for extensions. There is a sinking fund, but
bonds cannot be called. Company’s stock is owned by Union Pacific.
The Union Pacific guarantees either as to principal and interest, or as
to interest only, certain securities of the following^ companies, full in
formation concerning which will be found under their respective heads r
Oregon Short Line & Utah Northern; Oregon Railway & Navigation
(through guaranty of lease) ; St. Joseph & Grand Island ; Union Pacific
Denver & Gulf, and Union Pacific Lincoln & Colorado.
The outstanding bonds of Kansas Pacific above are given less the
amounts of each class held by the trustees of the consolidated mortgage.
The consolidated mortgage trustees are Jay Gould and Russell Sage,
and they held intrust on January 1, 1891, the following bonds of the
Kansas Pacific, making $6,786,850 in all, viz.: Leavenworth Branch,
$582,000; income (unsubordinated) bonds, $241,200; income (subordi
nated) bonds, $3,992,650 ; Cheyenne Branch, Denver Pacific bonds, $1,971,000. They also held $1,980,500 of the stocks and $3,160,000 o f
bonds of companies controlled by the Union Pacific.
The Kansas Pacific consolidated mortgage covers the road from Kan
sas City to Denver, and branch, 673 miles, subject to the divisional
bonds (to retire which sufficient bonds are held) and the United States
In April, 1891, a new loan for $20,000,000 of 5 per cent bonds was
authorized, to be called the Kansas Division and Collateral Mortgage.
There being no market for bonds and the floating debt being pressing,
a proposition was made to the creditors to fund the floating debt into
three-year 6 per cent debt certificates, to be taken at 92i2. The author
ized amount of these certificates is $24,000,000, but details of plan are
not yet matured. A list of the Collateral to be deposit 3d with Messrs.
Drexel, Morgan & Co. to secure the certificates has been reported as fol
lows (see complete list in V. 53, p. 290). A statement of the floating
debt as of Dee. 31,1890, is given below.
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.R A IL R O A D
Subscribers w i l l confer a great fa v o r by
STO CK S
AND
135
BO N D S.
living im m ediate notice o f any e rro r discovered, in these T ables.
Bonds—PmieiINTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Whom.
Dividend.
Bonds Value.
Road.
on first page of tables.
Union Pacific.—(Concluded.)
_
•
Kan. Pae. 2d m. (to U.S. Gov.) on 3 9 4 m.W.Mo.R. -Denver Ex. 1st M., 1 gr. 2,102,000 acres. .c*&r
.
Income bonds— --- *...... ---- ■ --- —
----?
Cons. M. for $30,000,000, L gr. gold, not dr n. .c
Un. Pac. Kansas Div. and Col. Trust bonds.....,.
Union Pacific debt certificates for $24,000,000...
Union Pacific Denver d Gulf— Stock for $36,000,000
t
Colorado Central 1st mort., $15,000 per m....... c
Denver Marshall & Boulder 1st mortgage...........
Denv. Tex. & Ft. Worth 1st M. ($20,000 p.m.)g.c*
Denvér Texas & Gulf 1st M. ($20,000 p. m.) - .c&r
Consol, mortgage, gold, subject to call at 105..c
Ft. Worth & Denv. City 1st M., g., $18,000 p. m.c*
U .Pa c.L in . < ()ol.—1st M., g., gu. ($20,000 p. m.).c*
6
United Ni J. R R . < Canal Co.—Stock, 10 p. c. guar..
6
G e n e r a l ster. loan, s. f. $36,920 yr. not dr.,g.c
do do do $36,000 yr. not dr.,g.c
Mortgage
of 1871 cur. loan, s. f. $40,000 yr. not dr’n.r
(now 1st loans of 1901, gold ................ ....c
mort.) se loan of 1908, gold....... .................r
r
cures all loan of 1923, gold..............
equally.., loan of 1929, gold..................... c&r
Bonds—
P a r Value.
K. C. & Om. 1st 5s...... $1,595,000
K. Cent. 1st 6s........... 1,347,000
Om. & Rep.Val. 5s & 7s. 1,781,000
O. R. & N. con. 5s.......
712,000
O. R. &N. col. trusts 5s. 1,632,000
Or. Sh.L.& U.N. con.5s. 3,983,000
do
do
col.tr.5s. 4,573,000
do
do prior iss’s. 1,764,000
U.P.Kan.Div.& Col. 5s. 5,000,000
U. P. Coal Co. 1st 5s... 5,000,000
U.P. Den. & Gulf 1st 5s. 8,402,000
do
do prior issues 1,833,000
Miscellaneous bonds.. 2,204,566
Slocks—
$6,303,000
394 1865-7
5,887,000
236 1869 $1,000
41,500
50 &c.
427 1866
1,000 12,570,000
675 1879
hypothec’ted
1891
1891
(?)
Too 31,151,700
4,701,000
1,0 0 0
328 1879
226,000
1,0 0 0
30 1886
1,449,000
1,0 0 0
165 1887
1,208,000
138 1887 l,000&c
1,000 15,464,000
824 1890
7,958,000
i;ooo
450 1881
4,479,000
1,000
225 1888
100 21,240,400
1,846,000
ri
£200
1869
1,800,000
200
1871
2,000,000
1,000
1871
5,669,000
’73-’76 i;ooo
841,000
1,000
1878
1,824,000
1,000
1883
6,020,000
1,000
1889
Oregon Ry. & Nav......
O. 8. L. & U. N ...........
U. P. Den. & Gulf......
U. P. Coal C o............
Pacific Express Co___
Central Branch U. P ..
Miscellaneous stocks..
P a r Value
$1,035,000
14,990,703
13,251,882
5,000,000
2,400,000
874,200
18,782,633
6
6 g. M. & N. N.Y.,Lond’n & Frankft.
M. & S. N. Y., Bk. of Commerce.
7
M. & N. N. Y., Un. Trust & Bost.
I s'
6
7
5
5 g5 g.
5 g6 g.
5 g2^2
6 g.
6 g.
6
6 g.
6 g.
4 g4 g-
J. & J. N. Y., Un. Trust & Bost.
do
do
J. & D.
do
do
M. & N.
do
do
A. & O.
do
do
J. & D.
do
do
J. & D.
do
do
A. & 0.
Q.-J. Phila. andN.Y., Offices.
M. & S. Lond’n,J. S.Morgan & Co
M. & S.
do
do
A. & O. Philadelphia, Penn. RR.
do
do
M. & S.
do
do
M. & S.
do
do
F. & A.
do
do
M. & S.
Disbursements—
Interest on bonds................................
Sinking funds......................................
Dividends on Oregon Ry. & Nav. stock..
Discount and interest...........................
Discount on bonds sold, &o..................
Loss on roads operated jo in tly............
Miscellaneous......................................
Profit and lo s s ....................................
9,333,949
907,982
1,095,114
292,950
169,321
96,042
82,506
339,003
1895
May
July
May
to
1,
1,
1,
1897
1899
1916
1919
1894
July 1,
Juñe 1,
Nov. 1,
Apr. 1,
Dec. 1,
Dec. 1,
Apr. 1,
Oct. 10,
Mch. 1,
Moh. 1,
Oct. 1,
Mch. 1,
Sept. 1,
Feb. 1,
Sept. 1,
1909
1916
1937
1937
1939
1921
1918
1891
1894
1894
1894
1901
1908
1923
1929
9,604,496
1,064,489
651,820
731,184
65,714
15,007
377,417
147,045
Total stocks..........$56,334,418
12,316,867
12,657,172
Total disbursements___
Total stocks, estimated
2,130,771
778,686
value.......................$11,684,694 Surplus.............................
1,155,007
1,053,723
United States requirements
Notes—
Various companies___ $2,342,481
Balance................................................ Sur. 975,764
Def. 275,037
V.
538, 681, 748,786,
V.
p. 41, 82,
Total bonds.
......$39,826,566 Total of all, par value.$98,503,465 121, 51, p. 142,143, 348, 459, 681,899,939, 940; 830;53, 52 157,187,
126,428,535,659,678,
V.
p.
Total of all, estimated
Total bonds, estimated
value...................... $42,105,047 290. 368.)
value. .................$28,077,871
U n io n Pacific D en ver & G u lf. — ( See Jfqp.j-^-This company’s
L an d Gr a n t .—The proceeds of land sales on the Union Pacific main
line are applicable to the sinking fund mortgage 8 per cent bonds. On road extends from Wendover, Wy., to Cheyenne, Wy., 125 miles; Denver
to Pueblo, Col., 124 miles; Trididad, Col., to Texas State Line, Tex., 127
the Kansas Pacific the cash income from land belongs to to the consoli
dated and the Denver Extension mortgage. On January 1,1891, the miles; La Salle, Col., to Julesburg, 151 miles; branches (77 miles of
company had in cash and in land contracts from the Union Paciflo which narrow gauge), 309 miles; total, 836 miles; trackage, Denver &
grant the sum of $6,162,095, and the interest to accrue on land con Rio Grande, Pueblo to Trinidad, 92 miles, and branches, 16 m iles; con
tracts was estimated at $1,310,000. On January 1,1891, the Union trols Fort Worth & Denver City RR., Texline, Texas, to Fort Worth, 455
Pacific lands unsold were 3,047,000 acres, estimated at $2,369,000; the miles, and Pan-handle Railroad, 15 miles, making a grand total in sys
Kansas Pacific lands unsold, 3,161,000 acres, estimated at $10,084,000, tem of 1,414 miles. This is a consolidation of the Denver Texas & Fort
this last including 2,102,000 acres, valued at $5,340,000, covered by the Worth and several Union Pacific lines. I t is controlled and operated
by U .P . See V. 49, p. 720.
Denver Extension mortgage.
Capital stock authorized is $36,000,000, of which $31,313,847 had
The Kansas Pacific lands, from the 380th mile westward, are covered
been issued on January 1,1891, $13,250,847 of this being owned by the
first by the Denver Extension mortgage (covering 394th to 639th mile)
Union Pacific Company and $3,406,800 by the company itself. In ad
and all the lands of the Kansas Pacific by the consolidated mortgage.
dition the stock of constituent companies outstanding on January 1.
O p e r a t io n s , F inances , &c.—The company has extended rapidly and 1891, amounted to $2,523,245. In the table above is given the amount
built and acquired much new mileage.
of stock reported outstanding by the N. Y. Stock Exchange on Sept.
On December 31,1890, the gross floating debt (including bills paya 18,1891. The company holds in its treasury $7,766,000 of the capital
ble, coupons due January 1, etc.,) was $21,418,094 (against $20,161,613 stock of $9.275,000 of the Fort Worth & Denver City Railway Co.
on December 31,1889) from which deduct cash $433,801; company’s
The consolidated mortgage of 1890 provides for bonds at $25,000 per
stock and bonds, $355,447; bills and accounts receivable, including ad mile of single and $35,000 per mile of double-track of completed rail
vances to branch lines on current account, $13,753,903; balance net way (and for further amounts on the pledging with the trustee of cer
floating debt, $6,874,941, against $4,489,563 December 31,1889.
tain securities), sufficient bonds being reserved to retire the divisional
From Jan. 1 to July 31 (7 months) the earnings of each division and bonds at or before maturity. There is no sinking fund for the consols,
of the “ Union Pacific System ” and also the grand total for all lines but the whole issue as an entirety is subject to call for payment at 105
operated were as follows:
on any interest day after six weeks’ notice. These bonds are indorsed
,— Gross Earnings.— , .----Net Earnings.---- with the Union Pacific’s guaranty of interest. See abstract of mort
1891.
1890.
1891.
1890.
gage in V. 51, p. 244.
First 7 mos. of fiscal yr.—
$
$
$
$
The amount of consolidated mortgage 5s stated in the table to be out
Oregon S. L. & U. N ....... 4,356,193 4,222,828 1,664,075 1,438,913 standing is that reported by the N. Y. Stock Exchange to have been
Oregon Ry. & Nav. Co.... 2,978,094 2,330,914
816,807
199,603 issued prior to Sept.18,1891. The Union Pacific report for 1890 gave the
Union Pac. Denver & Gulf 3,005,955 3,166,308
585,076
959,006 total outstanding January 1,1891, as $13,845,000, of which the Union
St. Joseph & Grand Isl’d.
435,792
856,670
70,950
320,761 Pacific Company held $7,180,000, and the company itself $1,035,000.
A ll other lines................11,640,596 13,162,393 3,757,575 4,593,065 In addition to these consols there were outstanding at the same date
$8,188,000 of old divisional bonds (exchangeable at certain rate for
*Total“ Un. Pac. Sys.” .22,416,628 23,739,112 6,894,482 7,511,348 consols), of which $4,697,000 Colorado Central 7s, and $248,000 of
Cent Br. and leased lines.
361,975
650,271
9,073
192,665 other issues were owned by the Union Pacific Company, and mostly
*2 Roads jointly owned..
239,049
275,887
14,353 def. 34,011 pledged under its trust deeds.
The company’s annual interest charge on account of its $22,033,006
t Grand total of all.... .23,017,652 24,665,270 6,917,908 7,670,002 bonds outstanding January 1,1891, and on account of the Fort Worth,
& Denver City 6s, amounted to about $1,674.000, butof this $51,750 was
* Average mileage 7,668 in 1891, against 7,553 in 1890. i Average on bonds held by the company itself, about $701,000 was on bonds held
by the Union Pacific and $181,300 was for interest on bonds whose
mileage 8,143 in 1891, against 8,033 in 1890.
The report for 1890 was in the Ch r o n icle , V. 52, p. 678; see also ar first coupon matures November 1,1891, these last being certain Denver
Texas & Fort Worth 5s and the consols exchanged for the Same.
ticle on p. 659.
From Jan. 1 to July 31,1891 (7 mos.), gross earnings were$3,005,955,
On the “ Union Paciflo System” proper, operations were as follows:
against $3,166,308 in 1890; net, $585,076, against $959,006; mileage
OPERATIONS, AND FISCAL RESULTS
operated, 1,452, against 1,393.
Report for 1890 was in V. 52, p. 679, as follow s:
1890.
1889.
7,562
Average miles operated ......................
7,389
EARNINGS, EXPENSES AND CHARGES.
Operations—
1889.
1890.
399,664,486
Passengers carried one mile................. 355,822,732
1,396
1,383
2-336 cts. Average miles operated.........................
Rate per passenger per mile....................
2-414cts.
$5,783,136
Gross earnings.............................
$4,595,096
2,115,988,741
Tons carried 1 m’e, not incl.Co.’sfre’ht. 1,950,241,673
$986,530
$1,606,077
Rate p. ton p. mile, not incl. Co.’s fre’ht.
1-405 cts.
Ì-381 cts. Net earnings....................................
Deduct—
n
$
$
$1,112,673
$1,247,568
Gross earnings............
39,669,600
43,049,248 Interest on bonds...............
Rental of track..................................
........
148,353
30,811,164
Operating expenses and ta x es.............
26,013,551
104,641
Discount and interest and miscellaneous.
109,072
....... .
13,656,049
12,238,084
Net earnings
T o ta l..................... ......................... $1,221,745
$1,500,562
Per cent o f opèr. expenses to earnings..
65-58
71-57
The company’s income account, including results on all lines oper Balance.................¿........................... def. $235,215 sur. $105,515.
—(V. 50, p. 138,197, 484, 590; Y. 51, p. 143,193, 244; V. 52, p. 679.),
ated, was as b e lo v :
INCOME ACCOUNT.......
U n io n Pacific L in c o ln & C olo rad o .—Owns from Salina to
~ J 1889.
1890.
junction with the Kansas Pac. Ry. at Oakley, Kan., 225 miles. The bonds,
Receipts—
$
are guaranteed by Union Pac., by endorsement; trustee of mortgage is
$
12,238,084 the American Loan & Trust Co., of Boston; sinking fund of 23 o f 1 per
Net earnings ............ ;........................
13,656,049
Central Branch Un. Pac. net earnings..
163,554
115,989 cent yearly, but bonds cannot be drawn. Union Pacific owns all the
Investments outside of system.............
482,180
606,539 stock except what is held by certain counties in Kansas. In 1890 gross
Interest on K. P. consol, bonds repaid..
.............
381,300 earnings, $194,019; net over taxes, &c., $48,326 (against $57,679 in
Miscellaneous............. ................ . —
145,855
93,946 1889); traffic guaranty, $119,093; total net income, $167,420; inter
est, $223,968, and sinking fund, $30,053; balance, deficit, $86,601,
14,447,638 receipts
Total
13,435,856 against $68,842 in 1889. (V. 47, p. 490,803.)
Y
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O
INVESTORS'
Glenwood Sprs,
SUPPLEME NT,
JfesaCÎty-o
^yons
Ouray
Rico o
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UNION PACIFIC DENVER & GULF
UNION PACIFIC, DENVER
TO
FORT WORTH
AND
GULF,RAILWAY CO
AND ITS CONNECTIONS.
Oj
THE
M AP OF TH E
«
•!V^\Emery Gap • *
~j
Tf cot om
N E/W
J
Cimarron o
iui
IVI
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I
I
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S e d u c e d S c a le .
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O ^ T E X L I N E ^ r T r .E x A S
Roswell
Seven Rivers |
S e p t e m b e r , 1891.]
RAILKOAD
STOCKS
AN D
BONDS.
137
Snhwerlhcrs w ill c o n f e T T ^ I T f a vor by g lv ln g lm m e d te te nottee o f a n y error dlscovered ln t h e ^
INTEREST OR DIVIDENDS.
-Ipal.When Due.
RAILROADS.
Miles Date Size, or
Amount r¡
When Where Payable, and by Stocks—Last
Par
of
Outstanding Cent. Payable
Dividend.
For explanation of column headings, &o., see notes of
Whom.
Road. Bonds Value.
on first page of tables.
m ica ' hen. á Susa. Val.— Stoch,6 p.c.gu. by D.L.&W.
TJtica Clinton < Singh9 —1stM., guar.D. &M.-.C
£
ton
Valley (N . Y . )— Stock, 5 p. o. guar, oy D. D. < w ...
&
Vñ'Hañtón ± i f
Talley (V ir g in ia )* - 1st mortgage......
Vermont a Mass.— Stock, 6 p. c. guar, by Fitchburg
Bonds, not mortgage (guar, by Fitchburg RR.Lc
Vermont Valleii o f 1871—Stock.. . ....... - -... »••• » 18t 1 1 WILil «pwvVjvvv k,w'_ ,
Y ..
_,
ij
,
Vicks, Shrevep. < Pacific —Prior lien mort., gold, .c
6
1st mortgage, gold. ....... — •• - •¿¿•¿¡ a::?,
3d M. and 1st M. on land, g-> tor $ 2 ^ 0 0 ^ 0 -.c
Inc. bds., non-cum.(there are also fl27,000 old 6s
Va. MicU’d —St’ck($4,524,233 owned by R.&W.P.T.
Mort., lstser., IstM. Alex, to Gordonsv.&br.,97m
2d series, 1st mort., Chariot, to Lynch., 60 m.)
3d series, 2d lien on 60 miles; 3d on 97 miles..
4th series, 4 per cent till March 1,1901..........
5th series, 1st on 115 miles.
6th series.
*
1
*
Virginia < True ■ee—Stock
£
■
)
y
St’ Charles Bridge 1st mortgage.
.
2d mortgage......... . -.......... - - -
97
31
12
12
59
83
62
59
50
24
189
189
189
97
157
157
157
272
75
347
347
28
353
372
1889
$100
1,000
100
1881
1879 100 «fee.
1,000
1881
1,000
1881
100
1,000
1883
50
1,000
1880
1,000
1885
1,000
1881
1,000
1886
1887
100
to
1881 100 «S .
1881 100 &c.
1881 100 &c.
1881 100 «fec.
1881 100 &c.
1,000
1881
1,000
1886
1,000
1886
10Ó &c.
1879
1865
1874
1878
1878
1,000
1,000
1,000
100
$4.000,0001
800,000
750,000
400,000
1,600,000
1.700,000
750,000
3,193,000
1,000,000
1,000,000
800,000
1,323,000
4,000,000
2,147,303
494,860
6,000,000
600,000
1,900,000
1,100,000
950,000
1,775,000
1,310,000
2,451,000
2,424,000
430,400
5,000,000
6,000,000
3,000,000
1,000,000
388,500
3
5
2*a
5
7
6 g.
6
3
5
3
5
6 g.
6 g.
4-5 g.
4
M. & N. N. Y., Del. L. & W. RR.
fc
J. & J. N. Y., Security < Tr. Co.
J. & J. N. Y., Del. Lack. & West.
do
do
F. & A. I
J. & D. N. Y., Mercantile Tr. Co.
do
do
M. & S.
A. & O. N. Y., Merc. Tr. & Balt.
A. & O. Bost., 53 Devonshire St,
M. & N. Boston, Fitchburg RR.
Bellows Falls.
J. & J.
A. & O. Boston, S. Dep. & Tr.Co
M. & N. N. Y., Central Trust Co
J. & J. N. Y., Farm. L. & Tr. Co
J. & J N. Y., Central Trust Co
6
6
6
4-5
5
5
5
5 g.
6
(!)
7
7
6 g.
7
M. & S. N.Y., Fourth Nat. Bank,
do
do
M. < S.
&
do
do
M. & S.
do
do
M. & S.
do
do
M. & S.
M. & S. N. Y. ,4tli N ational Bank.
M. & N. N. Y., Central Trust Co.
do
do
M. & N.
J. & J. Phila. Tr. & Safe Depos,
J.
M.
A.
A.
&
«S
s
«S
s
«S
s
J. N. Y., Bk.of Commerce
do
do
S.
do
do
O.
do
do
O
Nov. 1, 1890
July 1, 1939’
July, 1891
Aug. 1, 1911
June 15,190(r
Sept. 1, 1921
Oct. 1, 1921
Oct. 8, 1891
May 1, 1903
July 1, 1891
Oct. 1, 1910
Nov. 1, 1915
Jan. 1, 1920
Jan. 1, 1916
Jan. 1, 1920
Mch.
Mch.
Mch.
Mch.
Mch.
Mch.
May
May
July
1,
1,
1,
1,
1,
1,
1,
1,
1,
(1)
July 1,
Sept. 1,
Oct. 1,
Oct. 1,
1906
1911
1916
1921
1926
1931
1936
1936
1913
1895
1895
1908
1903
From July 1,1891, to ju iy «jx.row i
----$3 9 ,0 3 8 , against $41,058 in 1890; net, ml, against deficit $8,000.
Tn venr ending June 30, 1891, gross receipts were $636,682; net,
*157^264 • interest on bonds, $394,789; rentals, &o., $6,865; deficit
fo Y y e a ? f $244,390 iS 1889-90 gross, $639,753; net $122,994; deficit
under inerest,$270,974. (V.49, p. 2 9 9 ; V. 51, p. 303.)
V ir g in ia M idland .— (See Map o f Richmond d West Point Terminal.)
k
—LiNifoF R o a d .—From Alexandria to Gordonsville, 88 miles; Warrenton Branch, 9 miles; Charlottesville to Lynchburg, 60 miles; Lynch
burg to Danville, 66 miles; Pittsville Branch, 9 miles; Manassas Junc
tion to Harrisonburg, 114 miles (of which 51 miles leased to B^timore
& Ohio); small branches, 9 miles; total owned, 348
lottesville & Rapidan Railroad, Orange Court House to Charlottesville.
28 miles; Franklin & Pittsylvania Railroad (3 feet), Pittsville to Rocky
Mountain, 30 miles; total leased, 58 miles. Total owned and leased,
406 miles, of which 51 miles, Strasburg Junction to Harrisonburg, is
leased to the Baltimore < Ohio (in perpetuity at B.& O. s optaon for
fc
*89.250 yearly), and 9 miles to Chesa. & O., leaving 346 miles operated.
thInT890 Sos's earnings were $18,938,897; net, including income from
The Washington City Virginia Midland & Great Southern was sold
in™«tmen?r *5134 Q76 aeainst $5,040,*798 iu 1889. Net loss. in 1881> December 20,1880, and reorganized as Virginia Midland.
i s i ^ Netloss :
1881,
nmaftnoTits q * 1 S - 9?6 againlt $5,040,798
je 4
1 8 8 2 $568!759T in 1883,
$593,536;
i n 1882 SSO^TS^jdn 1883 $635,914; in 1884, $593,536 ;
In April, 1886, a lease of this road was made to the Richmond & Dan
m 0 8 8 5 4 * 1 5 9 496 -in 1886, $179,016; in 1887, $227,991; in. 1888, ville on the basis of a payment of the fixed charges and the payment by
30l2
fn 1 885
496; in l886,
in
*5 A???!. Net profit in 1 Q O $138,712; in 1 800. *396.885. Sinking the lessee of any balance of net earnings to the Virginia Midland Com
O
l
$160,501.
1889, «C 9« VI o., in 1890, $396,885. Sinking
funds December 31,1890, held securities of par value of $4,002,000. pany. The lessee may if it chooses advance the money for interest on
bonds, if
guaranteesittica. C h e n a n g o & S u s q u e h a n n a V a lle y .—Owns from Utica, the six series of prior mortgageearnings are insufficient, but West Pmnt
positively the general
interest. The Richmond &
N Y to Greene, NT Y., 75 miles ; branch to Richfield Springs, 22 miles ; Terminal Company owns $4,524,233 stock, most of which is deposited
total’ 97 miles. Road opened October, 1872. Leased to Delaware as security for its collateral trust deeds.
.Q1
Q
Lackawanna & Western at 6 per cent on stock. Has no bonded debt.
The fourth series bonds carried 3 per cent interest till March 1,1891,.
U tic a C linton & B in g h a m t o n .—Owns from Utica, N. Y., to and will bear 4 per cent till March 1,1901; thereafter 5.
Of the $12,500,000 general mortgage bonds of 1886, $7,635,000 were
Randaliville, N. Y., 31 miles. Leased during continuance of charter
and renewals thereof to Delaware & Hudson Canal^Company, which held to retire the serial bonds, also enough for the incomes. See ab
stract of mortgage, V. 47, p. 23. Part of the general mortgage bondspays rental of $61,500 per annum. Operated by the New York Ontario
& Wèstern. The street lines owned by the company are leased to Utica bear the endorsed guarantee in gold as to principal and interest of the
fc
Beit Line Street Railroad Company for $15,000 per annum. Gross Richmond < Danville. The unstamped bonds are currency bonds, but
«amines of this road, and Rome & Clinton 13 miles (reported together may be stamped payable in gold on a payment of 2 ^ per cent.
From Jan. 1 to June 30,1891 (6 months), gross earnings on 355 milesb v ^ e w York Ontario < Western), in 1889-90, were $236,689; net,
fc
„
$^2 647- loss to lessee, $12,353. Capital stock, $849,285 (par $100), of were $1,077,450, against $1,037,400 in 1890.
From July 1 to Dec. 31,1890 (6 ms.), gross earnings were $1,260,117,
which city of Utica hoids $200,000, with interest guaranteed 5 per cent.
against $1,192,528 in 1889; net, $480,437, against $460.364.
.
V a lie v (N . V . ) R a i l r o a d .—Owns from Binghamton, N. Y., to
Earnings for the years ending September 30 (except 1889-90, when
State Line of Pennsylvania, 12 miles. Opened October, 1871. Leased to
year ended June 30) were:
Sur. over
Delaware Lackawanna & Western at 5 per cent per annum on stock,
Miles. Gross receipts. Netreceipts. charges.
the lessee assuming the interest on bonds
$41,392
355
$1,635,667
$583,929
87.
V a l i e v (O h io ) .—Owns from Cleveland, O., to V alley JunctiomO. ,75 188632,172
355
1,800,426
700,602
88.
miles and 13 miles of small branches. Of the consolidated mortgage 188721,951
355
2,274,383
719,219
$1,600,000 is held in trust to retire the first mortgage when d u e.T M s 1889-90.
mortgage is a first lien on the Cleveland terminal property. A sinking
V ir g in ia & T ru ck e e.—Reno, Nev., to Virginia, Nev., 52 miles,
fund sufficient to retire whole issue at maturity begins September 1, Bonds all paid off. Gross earnings in 1888 were $771,544; net, $366,1891 ; no drawings. Capital, $1,261,973 ; par, $50. Control acquired
and bond
in 1889 by the Baltimore & Ohio Railroad Company. Earnings in_1890, 721; dividends, $265,000; interest $629,507; payments, $114,500. In
year ending June 30,1890, gross,
net, ^256>431; interest
$779,267 ; net, $262,436, against $192,329 in 1889. V. 50, p.70.)
paid, $1,175; dividends, $225,000; bonds redeemed, $101,000; deficit
V a lie v (V ir g in ia ).—Owns from Harrisonburg to Lexington, Va., 62 $73,015. D. O. Mills. President.
miles. By this and connecting lines under Baltamore & Ohio control,
W ab
h Ra
p .)— Owns and operates an extended
the distance from Lexington is 243 miles to Baltimore and 217 miles to system a s roads, ilr o a d .— (See M a be seen on the accompanying map, as
of
which may easily
Wasnington. The Baltimore & Ohio owns $1 ,0 2 0 ,0(W stock and the
follows, viz.:
City of Baltimore $1,000,000 stock. Stock outstanding, $2,731,839
irtar «1 001 In vears 1889-90 gross earnings were $126,299 ; net, $27,- OWNED EAST OF MISSISSIPPI RIVER. OWNED WEST OF MISSISSIPPI RIVER.
Miles.
Miles.
l P ar; le ficit uSder interest; $18,100, against $10,187 in 1888-89.
00
St. Louis to near Kansas City. 275
V e r m o n t & M a s s a c h u s e t ts .—Line of road, Fitchburg to Green Toledo, O., to East Hannibal,
11
Camp Pt. and Elvaston, 111 536 St. L. Levee to Ferguson, Mo.
.
field Mass., 56 miles; branch, 3 miles. The road is leased to the Iiten1 .,
bure RR for 999 years at 6 per cent on stock. The lessee to September Decatur, 1 1 to E. 8t. Louis.. 110 Moberly to Ottumwa, Mo--- 131
Salisbury to Glasgow, Mo--15June, near Chicago to Effing
30,1889, had invested $1,491,435 in improvements for this road.
ham and Altamont, 1
11....... 216 LEASED WEST OF MISSISSIPPI RIVER.
v « n n ’ nt V a lle y o f 1871 .—Owns from Bellows Falls to Brattle Streator to Fairb ury.............
o
80
31 Brunswick to Pattonsb’g,Mo.
boro, Vt., 24 miles ; and by ownership of stock the Sullivan County RR. Edwardsville to EdwardsCentralia to Columbia, Mo...
21
from Bellows Falls to Windsor, Vt., 26 miles ; total, 50 miles. Controlled
ville Crossing, HI..............
8
m the interest of the Connecticut River RR. The N. Y. N. H. < Hart, Delrey,near Detroit, to Butler 110
&
Owned & leased W. of Miss. 533
o w n s $249,700 stock. The Sullivan County RR. stock of $500,000 is LEASED EAST OF MISSISSIPPI RIVER.
deposited as additional security for the above mortgage bonds. Divi Eel River RR., Butler to LoTot. cov’r’dby 1st < deb. M. 1,639
&
dends since 1880 have been : In 1881, 4 ^ per cent, in 1882, 4, from
TRACKAGE, ETC.
gansport, In d ...................
94
1883 to July, 1891, both inclusive, at the rate of 6 per cent yearly
Laketon June, to Chicago--- 123
In 1890 gross earnings, $192,629 ; net, $75,133, agst $80,191 m 1889.
Total covered by 2d mort. 1,106 8 short pcs. into Quincy, De
92
troit, &c.,(18 m.being own’d)
V ic k s b u rg Shrevepbrt & P a cific . — ( S ee Map Cincinnati F e w
70
Operat’d for Purchasing Com.
Orleans & Texas Pacific .)—From Delta. La., on Mississippi R iverito
6
Shreveport, 170 miles, and extension to Texas State Line, 1 8 miles
The following is a statement of Maysv.to Pittsfield (leased)...
(the hitter leased to Texas .& Pacific); total, 188 miles. The old Vicks lines owned ana leased west of the
Grand total operated.........1,930
burg Shreveport & Pacific Road was sold in foreclosure December 1, Mississippi and of trackage, «fee.
1879, and reorganized under present title. The stock is $1,601,500 (par
H is t o r y , Or g a n iz a t io n , &c.—The Wabash St. Louis &Pa<dflc, which
$100), of which the Alabama New Orleans & Texas Pacific Junction was a consolidation in 1879 of the Wabash Railway mid the St. L
Railroad Company holds a majority , together with $3,692,000 of the 1st
was sold
iSSO, this company
mortgage and $965,500 3d mortgage bonds. Till 1891 the 3d mortgage Kansas City & Northern, 12,1889. in foreclosure inreorganization plan
For outline of
bonds carried 3 per cent, then 4 per cent till 1894, and thereafter 5 per being organized on July
le m e n t up to January, 1889.
..
cent. Net proceeds of land sales go to payment of interest on these see I nvestors ’ Su p pdirectors: James
The following are
Joy,
ia n
W o y.
bonds if necessary, otherwise to sinking fund ; no bonds drawn (see V. H. Hubbard, Edgar T. Welles, Sidney D in on . ^ s m e s D. ^Howe. Charles
Ja
K
43 p 104), Lands unsold Junë'30,1890, were 268,869 acres. Trustees
®
Ashlfw
of nrior lien mortgage and of 3d mortgage. Cent. Trust Co. of 1st mort., M. Hays, George J. Gould, S. C. Reynolds, Officers. Ossian d Asmey,
D.
Fariners’ Loan & Trust Co. Car trusts Aug. 30, 1891, $83,727. Cou Henrv K McHarg Cvrus J. Lawrenoe.
i President; Ed^ar f . Welles, Vice-President; James_F. How, Vice-Presipons due and unpaid to August, 1890,1st mortgage, $553,800; 3d mort I dent; C. M. Hays, General Manager, and J. C. Otteson, Secretary.
gage, $114,213.
t
t
N e w J e rs e y B a u r o a a as v«uid.i vy«~vec ’. " r z r ,,
,c
sid ra niaR R ) Controls an important system of roads in Northern
^ ew Jersey h W n g a line from New York to Philadelphia, another
from Lerth A x^ oy to Camden,
oaiuaeu,
«.
—— ~~ L’om Perth Amboy
Pi^ClTotal
t nriff Branch Berkeley« etc.* N. J., and. to Manunka Chunk, Pa. Total
mileage 447 miles. The principal lines owned directly are ¿rom Jersey
City to Trenton, 56 miles, and from Camden to South Amboy, 61miles;
9 branches, 29 ¿ales; total (owned directly) 146 miles. Also owns the
Delaware Raritan Canal, 66 miles. Among the lines leased are the
Philadelphia &’Trenton and the Belvidere Delaware which see.
Lelseffta mV , 187L to the Pennsylvania Railroad for 999 years, at
a rental of 10 per cent on the stook, besides interest on bonds. Penn
sylvania Railroad owns $1,350>000stock.
«trustee
The general mortgage of April 20,1871, is for $20,000,000 (trustee,
Fidelity lnsurance Irust & Safe Dep. Co. of Philadelphia), and se cie s
enuallv all the bonds in the table, though issued at different dates. The
6 per cent bonds due in 1894 were plain bonds merely until secured by
138
INTESTOKS’ SUPPLEMENT.
P
ol .
L IU ,
Subscribers w i l l confer a g r e a t fa v o r b y g iv in g Im m ediate notice o f an y e r ro r discovered In these T ab les.
RAILROADS
INTEREST OR DIVIDENDS.
Bonds —Princl
Miles Date Size, or
Amount
pal, When Due
For explanation of column headings, &c., see notes of
of
Par
Outstanding Rate per When Where Payable, and by Slocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Wabash— ( Concluded ) —
Wabash 1st M., g., s. f., not dr. ($34,000,000)___c
2d mortgage, gold....
.......... .
e
Deb.mort., inc.,non-cum.,ser. A & B, red! at par
Do. do. senes B, red. at p a r ..................
L eased L in e B onds —
1.638
1,105
1.638
1.638
Bt. Louis Council Bluffs & Omaha 1st mortgage..
42
Boon© Co. & Boonevill© 1st mortgage, int. guar..
22
nr*
* Chilli cothe 1st mortgage, int. guar,
38
Walkill Valley —1st mortgage......
2d mortgage..........................! ! ! ! ! ! ...................
Ware River—I
Stock,7 p.c.rentaiguar."999 yrs.R&Al.
49
Warren (N . J .)— Stock,7 p. c. perp., guar. D. L.<fc W
18
2d mortgage, now 1st.......... ...... ....
18
1st consol, mortgage______ _________ ! ! ! ! . . ! ! ! ___
18
Wash. ' ity<&Pt. Lookout—lstM.bonds,g.,Aiex.br.s.f
12
West Jersey—\
Stock, $122,250 is 6 p. c. “ special” .
1st M., cum.sink. fd.$12,500 yearly, not drawn.c
“ 38
1st consolidated mortgage............... ; ......... ....c
63
Consolidatedmortgage..........
.................. r 128
Ocean City RR. and Salem RR. " b o n d s ! ! c *
Swedesboro Railroad bonds............'..................
T i
Woodstown & Swedesboro 1st mortgage........ c”
li
West Jersey < Atlantic—Stock.................
6
IstM. Newfieldto Atlan. C., 33 m., dr’n at lOO.c&r “ 33
Pleasantville & Ocean City 1st mortgage... .c&r
7
West Shore—1st mortgage, guar. byN.Y.C. &Hud.c&r 448
West Virginia Central < Pittsburg—Stock
&
j
1st mortgage, gold ($25,000 per mile)......! ! ! ! ! 'c* 103
West Virginia d Pitts.— 1st M., s. f . not drawn, g
h
c-
1889 $1,000 $22,581,000
1889
1,000 14.000.
000
1,000
1889
3.500.000
1889
1,000 26.500.000
1,000
1878
626,000
6
1873
1,000
100,000
7
100 &e.
1878
304,500
6 to 8
1877
250.000
7
1877
330.000
7
100
750.000
3^
1855
50
1.800.000
3 13
1870
100
750.000
7
1875
600.000
7
1,000
1873
540.000
6 g.
50
2,134,850
3 13
1866 500 &c.
1,000,000
6
1869 500 &c.
1,000,000
7
1879 500 Ac.
750.000
6
1,000
200.000 4 & 5
1868 100 &c.
200,000
7
1882
1,000
90.000
6
50
904,850
2
1880
1,000
190,000
6
1880 100 &c.
80.000
6
1885 l,000&c 50.000.
000 4
100
5.500.000
1
1,000
1881
2.635.000
1890
1,000
3,000,000
5 g.
The Boone Co. & Booneville RR. is leased till May, 1973. The Bruns■jrtck & Chillicothe was leased to St. Louis Kansas City & Northern for
999 years. Its bonds bear 6 per cent interest till August 1,1900, then
8 per cent tiff maturity. On April 1, 1887, the Eel River RR. was
leased for 99 years (See that company).
Entrance to Chicago is secured over the Chicago & Western Indiana,
o f whose stock this company owns $1,000,000.
Stockholders voted on November 25, 1890, to construct or ac
quire a road from Montpelier, Ind., to a junction with the Chicago
A Western Indiana at Hammond, near Chicago, and to issue $3,500,000
bonds thereon. In September, 1891, it was reported that this plan
would be speedily carried out. See V. 53, p. 224, 257.
S t o c k s a n d B o n d s .— The capital stock is $ 5 2 , 0 0 0 , 0 0 0 , of which
$ 2 4 , 0 0 0 , 0 0 0 is preferred, having a preference of 7 per cent per annum
non-cumulative, and $ 2 8 , 0 0 0 , 0 0 0 is common; par both, $ 1 0 0 . Ab
stracts of the mortgages were published in the C h r o n i c l e , V . 4 9 , pp.
2 7 0 - 2 7 3 . The first mortgage covers lines both east and west of the
Mississippi, and enough bonds are retained to retire the prior liens on
roads west; but the second mortgage covers only lines east of the river.
Of the debenture mortgage bonds $ 3 , 5 0 0 , 0 0 0 are series A (preferred in
respect to interest payments only) and $ 2 6 , 5 0 0 , 0 0 0 series B . The series
“ A ” bonds received 3 per cent interest in January, 1 8 9 0 , and 3 in July: in
January, 1 8 9 1 , nil; in July, 6.
Obligations on leased lines other than on the bonds in the table above
are: Eel River Railroad Company—Annual rental charge, $60,000 per
annum. April 1 1887, to April 1, 1892; $75,000 per annum, April 1,
1892, to April 1,1895; $90,000 per annum, April 1, 1895, and there
after- Also $500 per annum for organization expenses. Louisiana &
¿Pike County Railroad—Annual rental charge, $800.
Price of new common stock—In 1890,
in 1891, to Sept. 18.
inclusive, 85s® 16.
Price of new preferred—In 1890, 15®31is; in 1891, to Sept. 18,
Inclusive, 167
s®33%.
Op e r a t io n s , E a r n in g s , &c.—The annual interest charge on the first
¿and second mortgages will be about $2,615,000, and the debentures
•call for $1,800,000 per year when earned (but not cumulative), mairing
the charges ahead of preferred stock about $4,415,000.
In August, 1891, it was reported that the directors had engaged to
'•distribute regularly the surplus net earnings—after payment or fixed
charges—among the B debenture bondholders, the basis of calculating
the division of profits to be the officially published net profits as indi
cated in each monthly return. The demand for betterments, it is said, is
to be satisfied by appropriations either from working expenses or from
•capital account. (V. 53, p. 224.)
i i oa?IBKAy o ’
month), gross earnings were
•$1,291,850, against $1,116,178 in 1890; net earnings, $340,700,
•against $334,463.
fis c a l year ends June 30. Report for 1890-91 was published at length
.in Ch r o n ic l e , V. 53, p. 367, 369. See editorial V. 53, p. 340.
OPERATIONS AND FISCAL RESULTS.
1888-89.
1889--90.
1890-91.
...........
1,9 2 2
19 2 2
•Average m ileage .........................
Passengers carried one mile. 152,404,045 149,183,000 140 904 203
Rate per passenger per mile
2T50 cts.
2-130 cts.
2-178’ cts
^Freight (tons) car’d one mile.l,094,717,509 1,430,197,332 1,209,179 055
Rate per ton per m ile.........
0-756 cts.
n-aA n tea
¿agjj! -^~
0-647 cts.
0-733 cts.
Receipts—
•Gross earnings.................. $12,590,482 $13,352,872 $13,028,288
Expenses—
$2,007,948
Maintenance of way..........
$1,729,231
$1,703,289
•Motive power.....................
2,607,790
2,651,758
2,611,587
Maintenance of cars...........
989,584
1,175,185
901,121
Transportation and general.
4,208,914
4,117,047
4,349,225
Total............................
Net earnings........... ..........
P er ct. oper. exp. to earn’gs.
$9,814,236
$2,776,246
77-95
$9,673,221
$3,679,651
72-44
INCOME ACCOUNT.
.
Net earnings.......................... I ...................
Received from rent of tracks, &c..............
Total.......... . . . . . ...........................
Deduct—
Taxes............................. — ...................
Track, br’ge rent., traffic ass’n expen’s., &c.
N. Y. & Pac. Car Trust interest, one month
Int’st on bonds and rentals of leased lines.
Dividends on pref.debenture mort. bonds..
$9,565,223
$3,463,065
73-40
1889-90.
1890-91.
$3,679,651 $3,463,065
272,434
372,740
$3,952,085
$3,835,805
$396,491
442,590
12,392
2,652,820
210,000
$417,700
504,976
2,666,838
210,000
T ota l............................. ......... .........
$3,714,293
$3,799,514
Net surplus. . . . . . . . . ........... ............. .
$237,792
$36,291
—(V. 50, p. 792; Y. 51,'p. 303, 348, 381, 385, 91, 571, 680, 748, 830
877; Y. 52, p. 82, 499 ; V. 53, p. 22, 224, 257, 340, 367, 368, 369.)
W a l l k i l l V a lle y .—Owns from Montgomery to Kingston, N. Y., 33
miles. Stock, $330,000 (par $100). In year ending June 30, 1890,
gross earnings were $145,241 ; net, $24,424 ; interest, $17,500 ; taxes.
$5,292 ; surplus, $1,632. „ Ashbel Green, President.!
5 8- M.
F.
i g- J.
6
J.
& N. N. Y., Central Trust Co.
& A.
do
do
& J. N. Y., Company’s Office.
& J.
&
&
&
&
&
&
&
&
J
N.
A.
J.
J.
J.
O.
O.
N. Y., Bank of Com’erpe
„
do
do
Boston,Bank Redemp’n
N.Y.,Of.,5VanderbiltAv
do
do
Boston, Bost. & Alb.RR.
N. Y., Del. L. & W. RR.
do
do
& s.
do '
do
& D. Baltimore, B. & O. RR.
& S. Phila., Of., 233 S. 4th St.
& J.
do
do
& o.
do
do
& N.
do
do
& A.
do
do
& D.
do
do
& N.
do
do
& S. Phila., Of., 233 S. 4th St.
& S. Phila., Fidelity I. T. Co.
& J. Phila., Penn. RR. Office.
& J. N. Y., Gr’d Cent. Depot.
Baltimore, Co.’s Office.
& J. N.Y., J. H. Davis,&Balt.
& O. N. Y., Farm. L. & Tr. Co.
May
Feb.
July
July
1,
1,
1,
1,
1939
1939
1939
1939
July 1, 1908
May 1, 1903
Aug. 1, 1903
Aug. 1, 1917
Aug. 1, 1917
July 3, 1891
Oct., 1891
Oct. 15, 1900
Mch. 1, 1905
June 1, 1913
Sept. 15,1891
Jan., 1896
Oct., 1899
Nov. 1, 1909
1912 & 1925
Dec., 1898
May 1, 1912
Sept. 15,1890
Sept. 1, 1910
July 1, 1910
Jan. 1, 2361
Mch. 20,1891
July 1, 1911
Apr. 1, 1990
t0 Winchendon, Mass., 49 miles. I t
years to? the Boston & Albany Railroad at a rental of
7 per cent per annum. J. A. Rumrill, President, Springfield, Mass.
7
B rid S f
^ s i*™ u ineo£i!oad’ New Hampton Junction to Delaware
i 8 “ dles- .The road is leased in perpetuity to Delaware
^
Lackawanna & Western at 7 per cent on stock and bonds.
T1 6 and branches—Camden to' Cape May,
1?
^nidleton, Sea Isle, Ocean City, &o., 182 miles; Wert Jersey
^Atlantic Railroad, 40 miles; total, 222 miles operated.
Smkmg fund of $12,500 yearly for bonds of 1896 is invested in comso held Januaryib1891 ° f th& Perm8ylvania system, and $709,100 were
Dividends since’l 880—In 1881,4; from 1882 to 1884, inclusive, 3 and
^
from 1885 to 1887, inclusive, 6; in 1888, 6 ^ • in 1889 7- in
1890, 7; in 1891, March, 3 ^ ’m scrip; September, 3^.
’ ’
The scrip issued as dividend in March, 1891, does not bear interest,
but is redeemable m cash and is convertible into stock at par.
«so i0o « January l t o July 31, 1 8 9 1 (7 months), gross earnings were
agamst $786,190 m 1890; net, $201,143, against $238,792.
The annual report for 1890 was published in the C h r o n ic l e , V. 52.
those of le^ ed liife5 0 1 15 ^aa
011*
as follows, the earnings including
INCOME ACCOUNT.
1887.
$
Gross earnings............. 1,469,215
Net earnings................. 492,958
20,857
Other receipts..............
1888.
$
1,556,033
501,902
27,348
1889.
1890.
$
$
1,526,169 1,633,745
427,099
491,819
27,973
31,098
Total net income... 513,fel5
529,250 455,072
522,917
Deduct—
’
Interest, rentals, &c... 312,149
289,407
248,933
251,237
Dividends................... (6)89,142 (6^)138,082 (7)148,217 (7)148,217
Balance, surplus... 112,524
101,761
57,922
123,463
—(Y. 46, p. 191, 509; V. 48, p. 526; V. 50, p. 3 5 0 ; V. 52, p. 533.)
J ®rs ®y * A tlan tic.—Owns Newfleld, N. J., to Atlantic City.
N. J., 33 miles; Pleasantville & Ocean City RR., 7 miles; total, 40 miles,
Opened June 17,1880, and operated by West Jersey RR. on a joint
tra£ c agreement and 25 per cent of gross receipts on West Jersey from
traffic of this road to be applied to any deficit in interest and then as
striking fund for bonds purchasable at 105, or drawn at 100, if over 105.
In 1888 net earnings were $82,787; in 1889, $43,573. In 1890 net
earnings were $43,043; interest, etc., $18,914; dividends, $40,342.
W e s t S h o re .—f See M ap New York Central & Hudson River .)—Line
of road from Weehawken, N. J., opposite New York City, to Buffalo,
• •X;’ witir branches to Albany City and Rochester City, about 448 miles
I? aiv This company was organized in December, 1885, as successor to
the New York West Shore & Buffalo, sold in foreclosure.
Leased in 1885 for 475 years to the New York Central & Hudson Com
pany and all earnings, <fec., included in that company’s report. 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 m
a<de to the Union
Trust Company as trustee, and covers the line of road, Weehawken to
Buffalo, with branches, 448 miles in all, and also the terminals at Wee
hawken by ownership of all the stock and bonds of the Terminal Com
pany. The guarantee of the New York Central & Hudson is absolute as
to interest and principal and is endorsed on each bond. See abstract of
mortgage m V. 42, p. 176.
W e s t V ir g in ia C entral & P it t s b u r g .—A coal and railroad
company m West Virginia in the upper Potomac region—the Elk Garden
Coal Field. Owns road in operation from junction near Piedmont,
West Virginia, to Elkins, Randolph County, West Virginia, 84 miles;
branches to Mineville, Elk Garden, &c., 17 miles. Leases Piedmont &
Cumberland Railroad, Piedmont to Cumberland, 30 miles; total oper
ated, 131 miles. Owns 32,244 acres of coal and lumber lands covered
by the first mortgage and has mineral rights on 5,407 acres more. In
January, 1891, stockholders voted to authorize the issue of $500,000
stock held in the treasury and $1,100,000 bonds for the extension of
the road. V. 52, p. 204. Extensions also projected to Pittsburg on the
north and the Chesapeake & Ohio Railway on the south. An important
traffic agreement was made with the Baltimore & Ohio in 1891. (See
V. 52, p. 796.)
■
Dividends—In 1889,1 per cent; in 1890, March, 1; 1891, March, 1.
From January 1 to Aug. 31, 1891 (8 months), gross earnings were
$727,617, agst. $606,344 m 1890; net, $241,810, against $209,264.
In 1890 net profits (coal and railroad) were $266,320; surplus over
fixed charges, $101,325. In 1889, net profits on coal sales, $105,017;
net from railroad, $109,567; total net revenue, $214,584; interest paid,
$122,414; surplus, $92,170. H. G. Davis, Baltimore, President—(V
46, p. 480, 610; V. 48, p. 129; V. 50. p. 873 ; V. 52, p. 126, 204, 796.)
W e st V ir g in ia & P ittsb u rg-.—(See Map Baltimore < Ohio.)—
&
In operation from Clarksburg, West Va., on the Baltimore & Ohio,
via Weston and Buchanon, to Sutton, 70 miles, with branch from Buchanonto Newton, 25 miles; extensions under construction.
Leased for 999 years for 37*2 per cent of gross earnings to the Balt. &
Ohio, which guarantees any interest on the bonds not met by rental.
See V. 51, p, 718. In 1905 and at end of every ten years thereafter
TTEMBEB, 1891.J
RAILROAD
STOCKS
AND
BONDS.
139
, ; 1
Y
140
IN V E S T O R S ’
SU PP LE M EN T.
[ V o l . LUT,
Su b scrib er« w i n con fer a great fa v o r by g iv in g Im m ediate notice o f any e rro r discovered In these T ab les.
RAILROADS.
INTEREST
Bonds —Princi
Miles Date Size, or
pal,When Due.
Amount Rate per When
For explanation of column headings, &c., see notes of
of
Par
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable Where Payable, and by Stocks—Last
Whom.
Dividend.
West’n (A la .)— Con. M.,g.,gu.by C.Ga. andGa.RR.c
Western Maryland— 1st & 2dpref. M’s (1st M. end’d)
Sd mortgage, endorsed by City of Baltimore.
4th mort., in return for City of Baltimore stoch..
5th mortgage, held by City of Baltimore, sink’g f d
City loan.............................................’
f
Balt. & Harrisb. RR.; prior morts. see remarks
Mortgage (for $690,000).......
c*
■ 18t M-/
o
wesLExt.,gu.byindors. ($16,ÖÖÖp‘ m)'.o1
Isalt. & Cumb._yal., 1st mortgages (see remarks)
Western 1?. T. <t Pennsylvania—Stock ($30,000,000)
Warren & Franklin 1st mortgage......
West. N. Y. & Penn. 1st M., ($10,000,000),’ gold.'o
2d mortgage (1st on equipment, etc.), gold. ..c
2d mortgage, deb., inc., non-cum., red. at option
Income scrip, convert., redeemable at option
Non-convert, income scrip........
West. No. Car.—1st con. M., now 1st M., gold, guar'c*
2d consolidated mortgage ($15,000 per mile)
Western Pennsulvania—1st mort., Blairs, to Butler
1st mortgage, Pittsb. Br., Freeport to Allegheny.
Consol. M. for $5,000,000, g., guar, by Pa. RR..c*
Wheeling & Lake Erie —Common stock..................
Preferred stock, 6 per cent, not cumulative. "
1st mortgage, gold.......1..................
¿*
1st M. Wheel., Div., $ & £ (2d on 187 miles)
c*
Toledo Belt Railway 1st mortgage, gold, guar
Exten. and Impr. mort. for $1,900,000, g., $ & £.o*
Wilm. Oolum. < Aug.— Stock, 6 p. c., guar. Wil. & Wei
£
1st mortgage.... ................. ....................
^
138 1888 I$1,000 $1,543,000
4*2g.
90 ’58-’68 500 &c.
222,000
6
J. & J.
90 1870 500 &c.
875,000
6
J. & J.
90 1872 . . . . .
1,000,000
6
J. & j.
90 1887
1,704,000
314 J. & J.
....
684,000
4
J. < J.
fe
’72-’79
207,000 5 & 6 Various
”32 1886
i',6b’o
483,000
5 g. M. & N.
15 1888
1,000
240.000
5 g. M. & N.
34 ’79-’81
351,300
6 6 J. & J.
670
Too 19,928,000
50 1865 500 &c.
800,000
7
F. & A.
630 1887
1,000
8,950,000
5 g. J. & J.
630 1887
1,000 19,498,333 3g.or5sc. A. & O.
....
Var.
732,000
5
A. & O.
Yar.
2,509,413
5
A. & 0.
390,367
287 1884
1,600
3,637,000
6 g. J. & J.
287 1884
1,000
4,110,000
6
A. & O.
60 1863 50Ö &c.
790,000
6
A. & O.
28 1865 100 &c.
435,000
6
J. & J.
98 1888
1,000
3.000.
000 4 g. J. & D.
100
5.000.
000
100
4,500,000
Q.—F.
1^
Í87 1886
1,000
3,000,000
5 g. A. & O.
50 1888
1,000
1,500,000
5 g. J. & J.
6 1888
1,000
500,000
5 g. M. & S.
....
1889
1,000
1,400,000
5 g- F. & A.
100
960,000
3
1880
1,000
1,600,000
6
J. & D.
N. Y. Security & Tr. Co, Oct. 1. 1918
1890 & 1895.
Balt., N. Mechanics’ Bk, Jan., 1900
do
do
Jan. 1, 1902:
do
do
Jan. 1, 1927T
do
do
July 1, 1925
Baltimore, Co.’s Office, 1892,’95 & ’99
do
do
Nov. 1, 1936
do
do
May 1, 1938
do
do
July,1929&’31'
None paid. ’
None paid.
N. Y., 4th Nat. Bank.
rentalm ay be altered byarbitration. The first mortgage for $4,000,000 (trustee, Mercantile Trust Company of Baltimore) covers besides
the road and its equipment 134,842 acres of timber, coal and mineral
lands m West Virginia. Bonds for $1.000,000 are reserved for branches,
nnn • Î?J? « i n^mgTfuu!l’ tU t t^,e b?nds cannot be called. Stock)
>
I
^5,400,000, par, $100. Pres’t, J. N. Camden.—(Y. 50, p. 3 5 1 , 482,726 •
V.
p< 71o«i
¿
¡ s
Buffalo°(^ ^ Pyorii^&r^h?ÎadelpMae^al) consolidation8ofU lC
883?r which
bonds are reserved to pay the Warren & Frankifo bonds at m ataritf g
The second mortgage bonds are a second lien on the railroadandfirst
on terminals, coal and equipment, subiect to le ase'o ftA ™ n fQ T „ I
ic
equipment to first mortgage bondholders if forecfos^'d’’
1898, they bear interesfafthe rate of 3 per cent, but till S ^ t a t e S
may be paid wholly or partly in scrip as follows: 1 p e r c e n to ls h A
scrip; lia cash, 3 scrip; 2 cash, 2 scrip ; 2 ^ cash, 1 scrip-orSner^eni if
paid all m scrip ; after 1898 the rate Is 4 per cent cashand H o rn e d 7
per cent may be paid, but after 3 per cent has been p a id o H e c o id
mortgage bonds, the stock and seconds share alike. ThescriP S
for interest bears 5 per cent mterest, non-oumulative, payable onlv if
earned, is secured by the coupons placed in trust therefor?and is due
20 years from date, but redeemable at option. It is convertible i n t o T
come debentures, also non-cumulative, and payable atoption. Trustee
o f first mortgage. Mercantile Trust Company, of New York • of seeonfl
mortgage, Mdefity Trust & Safe Deposit Company, ofPhRadelphfa
<See mortgage abstracts, Ch r o n ic l e , V. 4 7 , p. 10 9 )
puia4
Second mortgage coupons due in 1888,1889,1890 and April 1891
were paid in scrip. Due on new equipment July 1,1891. $ 1 1 7 5 699 •
bond and mortgage on real estate, $353,904.
•
* ’
»
In addition to the stock outstanding there is $10,269,556 in the eomi t o y ’8trea8ury* $10,000,000 of which can be dispésedof only by uîtanxnous consent of stockholders present at a meeting duly advertised
Fiscal year ends June 30. Earnings have been as follows :
do
do
Wilmington, N. C.
Aug. 17,1891
Oct. 1, 1926
July 1, 1928
Part each year
Feb. 1, 1930*
July 10,1891
June 10,1910*
1890-91.
$
3,562,9682,493,026-
998,465
999,626
666,720
1,069,942
1,077,694
609,846:
332,906
467,848
875! v - 51' » - 240'
M a r y la n d .—L in e o p R oad —Baltimore to Williamsport.
Md., 90 miles. Leases—Baltimore & Cumberland Valley Railroad and
extension, Edgemont to Shippensburg, Pa., 34 miles ; Baltimore & Har
risburg Railroad, E m oryjW ve, Md., toOrtamTa Pa , 59 mu“ sTw?stern
extension, Ortanna to Fairfield, 4 miles, and operated branches, 19
nules ; total, 206 miles. The Baltimore & Harrisburg, which was leased
^Novem ber, 1886, for 99 vears, is practically T n e d .
The Baltimore & Cumberland Railroad and Railway are leased for int e L ° ^ i 2H 00 ^ond.8’ due July !. .1929, ^ d the Baltimore & Cum
berland Railroad extension is leased till November 1 1931 at.
voo
per aimum (equal to 6 per cent interest on $230,000^ éonds,’due j S l y 1
1931), and 7 per cent on *270,000 stock.
’
0 uiy ± ’
Concerning the projected lines, see annual report in V 51 d 8 7 5
Potomac Valley RR. C o.T ed am értg’age for
^,2,000’000. Its road is under construction from Williamsport Md. to
« î î f w ï ? un,Tw®8ti^ a^ an?
11
1 tended as a connecting iiP v between
Reading Se^ V y52 ? l af l l t 6 Baltimore & °M o and W a d e lp ffia &
The stock is $684 700; pair, $50. The company has been largely as
sisted by the city of Baltimore, which owns $200;000 of its stock The
city prior to March 28,1891, had paid out by way of interest on the
company s guaranteed loans and on its own bonds issued against the
T ith 14 4 collateral, the fum. it is
statea, or $2,801,222 in excess of amounts repaid bv the comnanv
The first mortgage, for $43,500, due in 1890, is overdue:
P yIn June, 1891, Mr. John H. Bryant, offered $1,875*000 for the cit.v’s
interest m the road. V. 52, p. 863.
^
lor tue clT;y 8
issue of $690,000 Baltimore & Harrisburg bonds, $207 000 are
.to addition,to the bonds in the table the company is said to be resnnnsible for $226,530 six per cent funded coupon certificates for a Hitlen
naa 7sn t T a T o u n ?°,Tf$131,163. ’^ d floating debtMa/vland1T1e S 1i
i
to
f ^ 0° The
• o t1 1
on April
89
was $522.770 (consisting of notes and bank discounts), and thé total
past-due interest paid by the city of Baltimore, $2,801 222 Total in
b e Î ï f f s M : 8 $ 6 b T J * “ « « « * * W 3 6 ,3 2 5 *m \ J fta l,a °*O c S :
year ends September 30. In 1888-89 oross Auminm
I qTo’ okk ’ uet’ $255-726; betterments, $101,218^in 1889-9(fSgross
do
do
1889-90.
$
3,641,055
2,642,590
W e s te r n A la b a m a .—L ine op R oad —Selma to West Point 1 ss
miles. Sold May 10,1875, in foreclosure and purchased lointly by the
Georgia Railroad and Central Railroad of Georgia. In 1890 cross
earnings were $566,070; net, $200,841; surplus over fixed char
in i 8^ 8"89, stock>$3,000,000 (par, $100K of
which Central of Georgia and Georgia Railroad each owns $1,500,000.
î v y ^ U i 2 T o 50U 2 ' ° 00; BaltÜnore & H a ^ v T t o t e t du?Jan6
0
u:
do
do
Feb. 1, 1896
Jan. 1, 1937
Oct. 1, 1927
After 20 years
After 20 years
1907
July 1, 1914
Oct., 1914
Apr. 1, 1895
Jan. 1, 1896
June 1, 1928
tine, 185 miles; Asheville to Murphy, tf. C.,124 milesTtot“ 309 milea
Completed to Murphy in 1891, where direct connection for ’Atlanta is
made. In May, 1886, leased to the Richmond & Danville for $134 980__
onbo“ ds-Stock, $4,000,000 common and $4,000,000 preferred,
w
consolidated mortgage for $4,110,000 and $1,325,000 of thfr
I
I » 8 7 collateral trast of Richmond
* ^Lest F ° M . Terminal, while $3,160,000 common and $3,160,000*
™ni «$ri d*8tocfc ?re deP °sitod under its collateral trust of 1889; $850,000 of 1 st consols are reserved to retire the 7 per cents.
^
From January 1 to June 30,1891 (6 months), gross eaminers on 29fy.
miles were $500,150, against $462,444 on 292 M e s in 1 8 9 0 ^
1 to December 31, Í890 (6 months), gross earnings were$510,012, against $427,350 in 1889; net, $175,297, against $99,143
In year ending June 30,1891, gross earnings were $1,013,043.
In 1889-90 gross earnmgs, $889,938; net, $233,952; surplus over
charges, $7,177, the charges W e not including $278.250 interest Ton
bonds held by Richmond & West Point Terminal, nor $99,691 interest,
on open accounts. In 1888-89 gross, $801,074; ¿et, $109,485
On June 30,1890, there was due other companies, $1,775,826.
*te r ii P e n n s y lv a n ia .—Owns from Bolivar to Alleghany Citv>S uq’ i 7 ? « « 11^!8 ’ branobe| to Butler and Winfield Furnace, 29 miles !
total, 106 miles. Leased to the Pennsylvania RR. for 50 years in 1883!
rental, net earnings. The lessee, owns $1,753,350 of the $1,775?000
1
|ia o 9^fnnnaivd guarantees the consolidated mortgage bonds o f
>
1888; $1,225,000 bonds are reserved for prior bonds. Gross earninaa
$1,577,541; net $627,191; gross in 1890) $1,883,192 f S
^ v í t 8 > surplus over interest and 6 per oent dividends, $544,116.
^ 77ldend8 bave heen—In 1885, 6 per cent; in 1886.9: in 1887 3* in
1888, 6 ; in 1889, 6 ; in 1890, 6 ; in 1891, April, 3.
’
’ ’ UL
. ^ h e e l i n g dc L a k e E r ie .—Owns Toledo, O., to Bowerston, O.,
174 miles, and branch to Huron, O., 12 miles; -Wheeling Division s
Bowerston to Martinis Ferry, opposite Wheeling, 42 miles; Steubenville
t «+?i 1 oJ ;4 T le 8 W ^ led?
C
5 miles, and coal branches, 8 mUes.
pletedfn j S y ei8 9 7 lU 6nter Wlieellng by new Union Bridge to be comSohi in fore<fiosure April 23, 1886, and reorganized in July, 1886
with stock of $3,600,000 ($100 shares), which in March, 1888, was
2iaKAA?£fiierred 6 peJ ?ent non-cumulative. In December, 1889,
$3,500,000 common stock was issued to provide means for new con
traction, and this was afterwards authorized to be raised to $6 ,0 0 0 ,0 0 0 .
ft*om^^600,00^o8
^^i0,(M?0.S vo^ed lncrease the preferred stock
••Dividends on preferred stock—From April, 1888, to February, 1891.
potn inclusive, at the rate of 4 per cent per annum; in May. 1891. lLt
(at rate of 5 per cent per annum); Aug., 1 ^ .
4
J
9 ■¡ ■
' S
aT ® 11 and extonsionmortgage of 1889 for $1,900,000 (of
1'
which $500,poO is reserved to retire the Toledo Belt bonds) covers^
subject to prior hens, all the property of the company, and is a first hen
upon the extension to Bellaire and upon the Steubenville branch.
Pr°m, to ly 1 to April 30,1891 (10 months), gross earnings on 237 mileswere $1-P01,197, against $842,346 on 187 miles in 1889-90; net, $388,817, agamst $336,905.
*
Annual report for 1889-90 was in Chronicle , V. 51, page 568.
1887-88. 1888-89. 1889-90
Gross earnings................................
Net earnings................................. .
totorestpaffi.. ......... ....... .. . . .. . . .
Dividends paid on preferred stock...
818,352
870,495 1,04^41»
241,835
302,158
398 088
145,322
150,066
187,500(2) 70,268 (4) 144,866 (4) 144’000*
Balance, surplus.......................
26,245
7,226
66,588
—(V. 50, p. 71,197, 910; V. 51,p.344, 568, 910; V. 52, p. 204,428,762.)
W ilm in g t o n C o lu m bia & A u g u s ta .—Owns from Wilmington.
o a$
i8- a’ i ? 9 ^ UeH ,Lea8e8 jointly with Northeastern
l
South Carolina Railroad, the Central Railroad of South Carolina, Lane,
8. C., to Sumter, S. C., 38 miles. Total operated, 227 miles. An extensmn ls projected from Fayetteville to Rowland, N. C., 41 miles.
Sold in foreclosure October, 1879, and reorganized. Dividends of 6
per oent yearly have been paid since 1881.
In June, 1885, the road and property of this company were leased for
« J aE to toe Wilmington & Weldon, the lessee to pay all interest and
? s
fixed charges and 6 per cent dividend on the stock, payable semi-annuany
and July, In year ending June 30,1890, gross earnings+
44,476 A l tA^A 961
i
335’ total net (adding other income), $332,039;
paid interest, $96,000; dividend, $57,600; taxes, &c., $23,837; balance-
S e pt e m b e r
1891.]
RAILROAD
STOCKS
AND
BONDS.
141
Subscribers w i l l con fer a great fa v o r b y g iv in g Im m ediate notice o f an y e r ro r discovered in these T a b le s .
Bonds —Prinoi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
of
Par
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
_________
1887
1885
Special Trust certificates...........................
Winona < South W.—1st M., $18,500 p. m., gold -c
&
Wisconsin & Minnesota 1st mortgage..........
Minn. St. Croix & Wisconsin, 1st mortgage..
Terminal mortgage notes.........................
Improvement mortgage notes............ •- •Wisconsin Central Co. 1st M. for$12,000,000,g.c
Income M., non-cum., gold, for $9,000,000.. .c
Central Car Co. Equipm’t, leases and contracts.
Chicago Wis. & Minn, (leased)—1st mort., gold.c
Income bonds, 6 per cent, cumulative....
•
l
Worcester Nashua «6 Rochester- S t o c k . ------
„
. (Worcester & Nashua RR. bonds. ..c
■¡b
do
do
do - ..c
S'S J Wor. Nashua & Roch. RR. bonds.
do
do
do ...c’
te ® o < © I Nash. & Roch. 1st mort, bonds......c
o
Zanes. <t Ohio R i v e r - 1st M., gold, $25,000 p. m. .c’
«3 Pi''
•
r Hr
117
10
54
All.
All.
122
389
389
....
94
46
46
46
46
94
80
1888
1874
1880
1884
1885
1886
1887
1887
1,000
1,000
1,000
1,000
1,000
1885
1885
1879 500 &c.
1879 500 &C.
1891
100
1873 500 &c.
1875
1,000
1886
1890
1874 500 &c.
1886 100 &c,
»
o
Certificates of indebtedness, non- cum., income...
Sinking fd. bds., g.', provided for by gen 1mort.c
$500
100
100
1,000
1,000
M
©
o
o
Wilmington < North.—1st M. ,’20-40’s ($1,000,000) r
£
Wilmington <t Weldon—Stock..........................
$500,000
3,000,000
2,500,000
936,000
2,954,000
380.000
1,850,000
150,000
810,000
180,000
400,000
215,000
10,896,000
7.775.000
2,943,642
2.860.000
1.040.000
1.522.000
13,247
(?)
3,099,800
250,000
385,000
150.000
80,000
564,000
2,000,000
5
4
■ 7
7
5
6
6
7
7
6
8
8
5
5
'
g.
g-
gg.
6
to 6
5 g.
7 g.
5 g3
5
5
4
4
5
6 g.
J
J
A.
J.
J.
M.
A.
M.
A.
M.
F.
M.
J.
A.
M.
J.
J.
M.
J.
A.
F.
J.
J.
A.
F.
& D. Co.’s Office, Wilm., Del. 1907-1927
& J. Wilm.jN.C., Co.’s Office. July 15 ,1891
& O.
Irredeemable.
do
do
& J. N.Y.,Balt. andWilming, May 1, 1897
1935
& J.
do
do
& N.
A t Co.’s option
Wilmington, N. C.
& O. N. Y., J. Walker & Sons. Apr. 1, 1928
& N.
1904
Boston.
& O.
do
Apr. 1, 1910
do
& N.
May 1, 1915
do
Fob. 1,1895
& A.
do
Sept. 11,1906
& S.
& J. N.Y.,36 Wall St.& Lond. July 1, 1937
No coupons paid.
July 1, 1937
& O.
1894-1899
& S. New York, 36 Wall St. Mch. 1, 1916
Mch. 1, 1916
Jan. 1, 1909
& J. Boston, 50 State St.
Jan. 1, 1909
& J.
May 1, 1931
New York.
& N.
July 2, 1891
Worcester, Office.
& J.
& 0. Boston, Globe Nat. Bk. Apr. 1, 1893
Feb. 1, 1895
do
do
& A.
July 1, 1906
do
do
& J.
Jan. 1, 1930
do
do
& J.
Apr. 1, 1894
do
do
& 0.
& A. Last paid Feb. 1,1889. Feb. 1, 1916
The Chicago & Northern Pacific (which see) was leased on May 1,
1890, for 99 years, the lease being then assumed by the Northern
PdiCiilc»
W i l m l n g t o n & N o r th e r n .—1 wns from Wilmington, Del., to
O
The Chicago Wisconsin & Minnesota, from Schleisingerville to Chicago
H ighi Junction, Pa., 71 m iles; branches, 17 m iles; total owned 88 & Northern Pacific terminals in Cook County, 111., 122 miles, is leasedm
miles; trackage, 4 miles; total operated, 92 miles. Organized January perpetuity. Rental is 37*2 per cent of gross earnings, less its propor
18.1877, as successor to the Wilmington & Reading Railroad; sold in tion of terminal charges ; but surplus rental over $350,000 yearly is
foreclosure December 4,1876. Of the mortgage for $1,000.000, only divided equally with lessee.
-• _ -, ,
$500,000 can be issued on present mileage. Stock authorized, $1,500,The Milwaukee & Lake Winnebago Railroad, from Neenah to Schlei
OOb; outstanding, $1,275,050; par $50. Gross earning in 1890, singerville, is leased to the Wisconsin Central Railroad for 99 years;
$439,191; net, $77,944 ; surplus over fixed charges, $52,944.
the rental is 37*2 per cent of gross earnings up to $175,000 per year,
surplus to
and lessee.
W il m i n g t o n & W e l d o ^ —Owns Wilmington to Weldon, N. C- all tocks and go equally to lessoralso Penokee 1st 5s, due 1937, $30,000
S
B onds .—There are
162 miles; branches—Tarboro, 16 miles; Scotland Neck (Halifax to St. Paul & St. Croix Falls 1st mort. 6s, due Nov. 1,1891, $90,000. The
Kinston) 86 miles; Fayetteville (including Midland of N. C., 93 miles; preferred stock (6 per cent cumulative) is $3,000,000; common stock,
Nashville, 19 miles; Clinton, 13 miles; other, 3 miles; total owned, $12,000,000. The first mortgage bonds of 1887 and (subject to these)
392 miles. Operates Albemarle & Raleigh RR., Tarboro to Plymouth, the incomes cover all the company’s interest now or hereafter acquired
5 4 miles; Florence RR.. 27 miles; Manchester & Augusta, 16 miles. in any of the lines which at the time of the making.of the mortgage
Leases Wilmington Columbia & Augusta, 189 miles; Central South. Car- were operated in the Wisconsin Central system, whether owned or
olina (iointly with Northeastern South Carolina RR., 38 miles; has leased. They therefore cover all the securities of said companies held
$653,510 invested in the Norfolk & Carolina RR., 110 miles; total of by the Wisconsin Central.
,
^26 miles
In
¿eased November, i872, to Wilmington Columbia & Augusta RR. ized, June, 1891,'the equipment and improvement bonds were author
to buy up the Central Car Co. stock (about $3,000,000) for im
for. 99 years. The lessees made default December, 1877, and the provements, additional equipment, etc. The total authorized issue is
lease was surrendered April 13, 1878. In June, 1885, this company $12,000,000, of which $7,000,000 w ill be issued for present use. The
leased for 99 years the Wilmington Columbia & Augusta (which see).
bonds are the joint and several obligations of the Wisconsin. Central Co.
An increase of stock has been authorized to such an amount as may and Railroad Co., each corporation being separately liable on every
be necessary to complete certain extensions. (See Y. 51, p. 348, 876.)
bond and coupon. The bonds are further collaterally secured by pur- *
There was June 30,1890, $1,467,401to the credit of the sinking fund. chase money first lien upon all property bought with their proceeds.
The certificates of indebtedness, $2,500,000, were distributed to stock They have precedence m payment of interestover the incomes, no
holders in January, 1887, as a scrip dividend. There were also June new mortgage can be put ahead of them, and if either company here
30,1890, $437,149 new equipment notes.
¿ividends since 1877—Froml878 to 1881, inclusive, 3 per cent; m after issues a new mortgage, the improvement bonds will be exchange
able for bonds thereby secured at par. After June 30, 1900, a slim
1882 and 1883, 6; from 1884 to July, 1891, both inclusive, at rate of 8 ing fund equal to 3 per cent of the hot rental from the Northern Pacific
per cent per annum.
„
’
I
,T
Company will be applied to purchasing them whenever obtainable in
Fiscal year ends June 30. On 362 miles, including Midland of North the open market at 105. The fixed charges, which were $1,669,386 in
Carolina, earnings have been as follows, as per report in V. 52, p. 89. 1889-90, have been reduced to about $1,560,000 by this purchase of
1888-89. .
1889-90. the Car Company’s stock. A full statement concerning these bonds,
Gross earnings......................... . •• .......... •$1»224,044
$1,350,853 with an account of the company’s financial condition on May 1, 1891,
Expanses........ .................................. .
691,172
oai,iio/ was in V. 53, p. 22. See also V. 53, p. 127.
The Wisconsin Central Railroad had a land grant of 838,628 aores, of
Net earnings................................... .
$832,872
$669,716 whieli to June 30,1890, 250,000 acres had been sold for $700,203, and
In 1889-90 net earnings as above, were $669,716 ; total net income» 2,626 town lots and 42 blocks, for $125,597, receipts from pine stumpincluding interest, dividends and$154,602 from Wiim.Col. &Aug.lease» age to that date being $962,261.
■
$943,994. Deduct interest on bonds $232,170; other interest, $209,E arnings and F inances .—Since the Wisconsin Central Company
778; dividends, $200,000; surplus for year, $302,046.
owns practically all tlie securities of th.0 Wisconsin Central Railroadf
_(V. 47, p. 8 0 1 ; V. 50, p. 312 ; V. 51, p. 348, 876; V. 52, p. 39.)
the entire earnings of both companies go into the Wisconsin Company s
treasury, from them being paid the total charges of both companies,
W in o n a & S o u th w e s te r n .—Road projected from Winona representing about $1,560,000.. The Chicago & Northern Pacific being
MiTin to Omaha, Neb., 375 miles ; completed from Winona to beyond sub-leased to the Northern Pacific its earnings are not included in the
Osage, 117 miles. The reorganization plan of the Green Bay Winona & tabulated statement for the year given below, they having no relation
fit. Paul provides for a traffic arrangement with this road. The Winona to this company’s finances. In the monthly earnmgsof the Wiscon
RR. Bridge over the Mississippi, completed in August, 1891, connects sin Central, however, as reported by the Northern Pacific Railroad
these roads. See V. 52, p. 974. Trustee of mortgage (for $6,950,000) Company, the Chicago & Northern Pacific earnings are included, con
Farmers’ Loan & Trust Company. There is also outstanding scrip m sequenfly making them useless in determining the earning capacity
$500 pieces ; this scrip is convertible into first mortgage bonds, the of the Wis. Cent. Company. Bee full explanation in V. 51, p. 748.
bonds reserved to retire it being included in the amount of said bonds
Fiscal year ends June 30. Report for 1889-90 was in Ch ronicle , Y.
outstanding in the table above. Stock authorized,$20,000,000; out1,1891, in
tanding, $1,000,000, par $100. (See V. 51, p. 172; V.52, p. 974; V. 51, p. 713, and the balance sheet as of May SYSTEM- V. 53, p. 22.
WISCONSIN CENTRAL
53, p. 326.)
1889-90.
1888-89.
W is c o n s in Central C om pany.—(See Map .) —Owns junction near
867
829
fit. Paul to Abbottsford, Wis., 157 miles; branch to Bessemer, 34 miles;
$
$
other branches to Eau Claire, &c., 12 miles; spurs, 31 miles. Leases
4,780,344
3,957,818
Chicago Wisconsin & Minnesota, Chicago to Schleisingerville, 112 miles,
3,125,044
.2,807,941
ndspurs, 8 miles; trackage to Chicago, Minneapolis, &©., 26 miles;
total, 380 miles; controls Wisconsin Central Railroad, owning from
1,655,300
.1,149,877
Menasha to Ashland, 252 miles; Stevens Point to Portage City, 71
1,669,385
miles; branches and spurs, 62 niiles; and leasing Milwaukee & Lake Fixed charges about..............................
Winnebago, Neenah to Schlesingerville, 64 niiles, and spur2 miles; —(V. 51, p. 646, 713, 748; V. 52, p. 126; V. 53, p. 22,127.)
Packwaukee to Montello, 8 miles; trackage, Milwaukee to Rugby Junc
W o r c e s te r N a s h u a & R o c h e s te r .—Owns from Worcester to
tion, etc., 28 miles. Total Wisconsin Central Railroad, 487 miles. Grand
Nashua and Nashua to Rochester, 94 mile's. Consplidation 1883, or
total, 867 miles. ’
Worcester & Nashua and Nashua & Rochester. .
.
r
O rganization , E tc .—Organized June, 1887» to gather into a single
In October, 1885, a lease of this property for 50 years, from J anuary
corporation the Wisconsin Central Associated Lines. Nearly all the se 1 , 1 8 8 6 , was made to the Boston & Maine Bailroad Company at a ren
curities of the Wisconsin Central Railroad are now owned; except tal of $250,000 and taxes. The mortgage o f 1879 secures equally on
$1,522,000 of its first series and a few of its second series bonds.
.
the road from Worcester to Nashua the debentures pf 1873 and 1875,
In 1889 a traffic Contract was made with the Northern Pacific, and on and all the other bonds,, including the N a s ^ a & Rochester 1st
April 1,1890 this was altered to a 99-year lease, under which the North. mortgage bonds of 1874. For 1890-91 rental ^50,000 , net over all
Pacific agrees to pay all operating expenses and taxes, the Wisconsin fixed charges, $58,573 ; paid dmdend o f 6per cent, *183,864 . deficit
Co. furnishing the equipment. As rental the. Wisconsin Co. receives charged to profit and loss, $25,291. Balance of profit and loss June
35 per cent of the gross earnings of that part of the road lying north of 30,1891, $305,869. Dividends since 1883 have been -, Ï qi1
the junction with the Milwaukee & Lake Winnebago and 37^ per cent 1885, 3 ami 17 stock; in 1886, 3; from 1887 to July, 1891, both inclu
©f the gross earnings of the Milwaukee & Lake Winnebago and the Chi sive, at rate of 6 per cent yearly, (V. 52, p. 204.)
cago Wisconsin & Minnesota. I f operating expenses are less than 59
Xa n e
O h io R i v e r
per cent of gross earnings, the saving is to be divided between the lessor mar, on s v ille &River, opposite. —Owns from Zanesville, O., to Harthe Ohm
Marietta, about 80 miles, including
and the lessee. The lessee assumes all operating contracts, but the Wis
branches, 3 iniles. In Afig.l889, interest was defaulted Foreclosuresuit
consin Company is to pay all rentals accruing under such contracts, ex
cept the rentals due the Chicago & Northern Pacific and the Chicago ir progress, Béé V. 50. p. 140. To be reorganized as the Ohio & West
Milwaukee & St. Paul, which rentals are to be met by the lessee. Once Virginia From Sept. 1,1889, to Dec. 31,1890 (16 months), gross earn
in five or ten years an alteration in the percentages is permitted by in g ! were $206,466; net, $43,787; taxes, $7,882; balance, $35,904. (Y.
49, p. 178. 236; V. 50, p. 140, 353.
arbitration.—(See V. 51, p. 713.)
to. W ilm in g to n & Weldon $ 1 5 4 ,6 0 1 . In 1 8 8 8 -8 9 , gross, $ 8 4 0 .1 1 4 ; net,
$¡204.596.— (Y. 4 7 . p. 801; V . 5 2 , p . 39.)
142
INVESTORS’ SUPPLEMENT.
143
For explanation of column headings, &c., see notes on
first page of tables.
____________
M IS C E L L A N E O U S .
Q.-M . New York, 59 Broadw’y
Q .-J. Boston, Comp’y’s Office.
do
do
F. & A,
M. & 8, N. Y., Office, 1 B’dway.
Sept. 2, 1891
O
clfc. 15,1891
Aug. 1, 1898
Sept. 10,1891
Q .-F. N. Y., Winslow, L. & Co,
r?& J. N.Y.,Co.’s Of., 65 B’way
N. Y. Office, 117 Wall St.
do
do
. & J.
& J. N. Y., Central Trust Co.
N. Y., West. Union Tel,
Q.-M .
Q.—F. N. Y., Farm. L. & Tr. Co.
Company’s Office.
Company’s Office.
N. Y., Farm. L. & Tr. Co.
In default.
J. & J.
Nov. 1, 1900
July 1, 1891
July 2, 1891
July 2, 1891
Jan., 1911
Sept. 1, 1891
Aug. 1. 1891
Feb. 25,1890
Nov. 22,1890
Jan. 1, 1907
1928
Q .-J. N. Y., Office, 37 Wall 8t,
do
do
M. & N.
J. & J. Phila. ,Of.,528W alnut 8t
Q .-J. Phila., Fidel. Insur. Co,
M. & N. N.Y..Cent. Tr.& Lond’n
do
do
J. & D.
J. & J. N.Y.,Cent.Tr.& Chio.Of.
J. & D. Chicago, Union Nat. Bk.
J. & J. N. Y., Central Trust Co.
$100 *12,000,000
000
100 15.000.
jS S S J ^ ^
1888 500 &c. '2,000,000
Debentures, subject to call at 110................ -........ca 1
£
1.500.000
25
100 30,435,700
4.000.
000
1,000
Debentures for $5,000,000, subject to call a tllO ,g ...c 1890
000
100 18.000.
25.000.
000
100
Am erican Sugar Refining Common shock.....................
000
100 25.000.
Preierred stock, 7 per cent cumulative.......................
1,000
(1)
~
000
100 14.000.
000
100 10.000.
American Tobacco Go.— Preferred stock, 8 p. c. non-cum..
5.000.
000
100
Brunswick Company— Stock......................................
1.400.000
100
Oahdba Goal M inin g— Stock.... . ... . . - ••-- - -............ - *
750,000
1,000
1886
1st mortgage, sinking fund, drawn at 110.............
1,000,000
1888
Cameron Iron < Coal Go,—1st mortgage.....................
&
Too 3.550.000
Canton Company—&
took. - .......v •
..........
4,808,600
100
Central «6 South American Telegraph—BtoeK . . . . ........
1,000,000
100
1890
Construction certificates, redeemable m Btock... - - - ■
2,602,950
1886 500 &c
Chesapeake d Delaware C a n a l-l& t j® ^ f.^ ® ^ te re s t
t
1
100 25,000,000
2.100.000
500
1874
2.500.000
500
1874
2,000,000
1,000
1885
3.832.000
1,000
1886
7.650.000
1,000
1887
Oct. 8, 1891
See remarks.
July 1, 1916
Sept.18,1891
Nov. 1, 1904
Dec. 1, 1904
July 1, 1905
Deo. 1, 1936
July 1, 1937
i United States in 1890 was estimated at
A d a m s E x p ress.—No reports.
.6 pe
A m e ric a n B e ll T elephone C o.—Dividends—In 1881, inclus^
from 1885 to 1887,
* f i oao l i ft
12 • in 1884,15; from 1885 to 1887,mem».
to
« ¿ i n 1896, 18; to 1891, January, 3.
AS t o ^ f f i r ' s \ r ^ ^
P H « « * * « 1 auOscrMng to
K
mUM » '
1890
1
1888.
1889.
loy v. _
•
m /iK aoq
o Q
qa5 119 $4.044,704 $4,375.291
Total gross earnings......^ ’t i o 5 9 7 T 414,206 2,658,738 2,869,418
Net earnings
earnings............... n i’oeo
22,258 ' 3 , 1 5 0
27,011
Other receipts......
Total
Ä
S
M
È
for the first year are H. O.
m
E
m
' win Dick and J. B. Thomas.
â
Ê
S
S
S
S
B
..................
2,237,608 2,436,464 2,661,888 2,869,418
.
0~0 - - o i iq iko
1,463,913
Regular dividends.......... 1,176,252 1,192,15/ 1.238.913
750,000
600,000
Extra dividends.............
392,084
597,726
preferred—In !891 to Sept. 18,
655,505
700,000
Depreciation reserve......
132,616
64r>,oao
85®96.
ifew York office, 117 Wall Street. (V. 51, Pf f 1’ 2if& ? 46’
Total .................... 1,700,952 2,436,464 2.538.913 2,869,418
38, 609, 646, 681, 788, 877; Y. 52, p. 120, 535, 899, Y. 5d, P- ioo.t
122,975
•¿•’ •¿69V341 j T . 5 0 , p 449?589
52,p. 121; 532.1
A m erican
S S
The
K 3 t o w S tom U m oil U1Î1932, Jlth a guaranty of 5 per cent per anannuai^atementfo S7fi0 802; t(^ al expenses and interest to MaTCh, num on the stock issued—$14,000,000.
nrMTli„ - , ,
Disbursements—
275.)
S
s S
a S
S
S
H
p
S
Wimum S. Kimball&Co^ and o O O ^ ta A p ri? 'W Îth fto b a c co factories
1890, were valued at $26,825puu.
W
’Baltimore, were pmv
^ V d ° e r v ° o nte8
d
t0S
^ m$ ° L f e o t0
amount ^ n A p r i / l t llg iT th e8
,certificates of ths Trust which had not
a^ented to the seorganization amounted to *506,828. Bee statement
+r* Tr v ft+ook Exchange, giving balance sheet, etc., m V. 52, p. J93.
s
t0T?e r e f erred s * K f 6 m S m -c u m u la tiv e , I t is secured by deposit
Of $41,678,40< X S S S of' E
e,T®
7 S 0S
=
« l i K V S n d
subject to call
own stock at from 29 to 32. (V. 50, p. 834.)
common stool
C aliaba C oal Ittin ln g.-O w n s 12,380 acres o f
*S f> |^ s W
18pri'ce of common stock in 1891, to Sept. 1 8 moluMve, 15^8@29
S
^referred in 1891 to Sept. 18, inclusive, 33^2®53.
Id seal*year ends August 31. Annual meeting of stockholders on the
S
to Æ
i i 'a s s
coal
, d
and iron lands
S chafgÄ, sinking fund, reduction of Soating delrt,
f l OnrA p r u f l 8 9^ 0(th“ nlw securities having been issued), the cornf
pan?
cash assits to the amount of $3 ,5 5 9 ,5pi-consistm g oi! cash
$ 9 1 8 j Ä m a i n s the property
« 99 I «49 a,nd advances for purchases of seed, etc. (th©se
hAarinff interest) *3 334,658. The floating liabilities at the same date
amounfed to $877,832, including interest accrued, while the surplus wa
a?d 189l ä -
^ Net earnings before the deduction of interest on floattag debt, expenses
s
f
e
e
i
s
S
I
®
Vera Cruz with’ Mexican Telegraph Com350 miles. Connects a t . ^eri*
weTetween Gaiveston and
' irect caoie o ,
nanv and owns an interest in the direct cable between Galveston and
onQ nnn <n
?’ ---- , —
one miles. stock was increased to $4,808,000 in
825
The falling off in the'last period is ascribed to hostile legislation
other complications, which it is expected will hereafter be avoided.
InFeo., i » y i , rue
$1,000,000 5 per cent con—(V. 51, P- 20, 276, 344, 645, 753, 909; V. 52, p. 641, 761, 7fad.)
miles, was completed, and to ™eet the
’ ^jjfup paid stock atpar
tion of directors. With
A m e ric a n E x p r e s s . —Dividends of 6 per cent yearly have een struction certificates ^ere msued, redeem
within view an increase ^ Pstock to l e ’o o o 000 w
three years of c o of ^ l ^ ^ $b,oo^uuu was authorized. 6(See
1887j per
Pa* m e r ic a n 9 u gar l i e fining.-T h is new Jersey corporation be this in
S
came in January,S1891, the owner of all the Pr°P e ^ ys ^ ^ e^,fagt6 T. 50, E- f >18) 0
l i B r l ? i to*? » ?.7 .9 “ . « ! *
belonging to the Sugar Refining Company, or so called
York'
Tt has 14 refineries in running order, seven being in or near New vorK,
ttoee in B ? s to T th e others in Portland S ^ Loms and New O^
lftans These refineries have a capacity of about 30,000 * a^reisA^
^
smear daily, or a melting capacity of 1,275,000 tons per annum. AcC h ic a g o ® a s .—A coinpanj
"gas properties in ChicOTdihg to estimates of Messrs. Willett & Gray, the Trust refined about was incorporated in lllm ow u il^ J t han|ed tQ
Chicago Gas Comcago. m Aprd, 1890, its t^|m^ kll0iders deemed it expedient to surs
pany, and m Apnl, 1 8 9 1 , the sxoo
courts of minois having decided
render their^charter to the
^ f ^ p a n i e s was illegal.^ The
that the holding of sto
_ safA Deposit, which holds in trust all the
oVinnf «3 149 046. The company has eight competitors, iour ue
a6?Ft $o,
,
one
gan Francisco and one each in Boston and
^Baltimore. They have a total daily capacity of about 15,000 barrel».
144
INVESTORS*
________________ ___________________
—
1
r1" "
r
_
erea> faVOr b> g lV l“ 1
-;
rT’eierrea, 6 per cent cumulative
Collateral trust bonds, gold, $ or
Claflm (H . B . ) Company —Common stock
9 riT i \ ? er Ceif cum- <$819.100 is convertible).':;:::
&
pref. b per cent cum. ($771,900 Is convertible/
.
. . .......
gol<?’ accpm. sink, fund, not draw’n.'c*
Soal & IronDevelopm’tCo, IstM., guar.,red.at 105.
C o lo ra ^ Enel— Common stock, for $3,000,000
(8 per cent cumulative) for $2 ,000 ,6 0 6 :.: .W
Generaimort. gold, for $1,200,000, s. f. red. at 110 c*
0o^ ^ U fU o c k .O °a l< 6 Iro n G o . - Stock, $190.000 is pref.
8
w W ” ■>§•
*
acres I d, min’s & b’d’gs) s.i. not dr’n.c*
Commercial Cable—Stock ($10,000,000)...........
(^80,000) payable $40,000 per annum....
fwnneZ—Income, non-cum., for $3,000,000...c
Consolidated Electric Lipht —Stock
Debenture bonds, sinking f u n d . ....................... .
Consolidation Coal o f Maryland —Stock
’J^n80ii£ ai? d>convertible into stock at pär
Consolidated, Gets ( N, F, ) —Stock
Cdl
Knickerbocker Gaslight, 1st mortgage, sinking fund (
Metropolitan Gaslight Co., 1st mortgage
c
Debentures for $3,000,000............. . . . .
* ..........
[V o l.
$100
100
1,000
100
100
100
100
1,000
$6,500,000
5
N. Y., Office, 45 B’way.
6.500.000
3
J. & J.
do
do
10,000,000
J. & J N.Y., Cent. Tr.; London.
3.203.400
I e- Q.-J. N.Y.,Office— Church St
2,910,200
Q.—F.
m
do
do
2.886.400
Q.—F.
1*2
do
do
10,000,000
1880
3.499.000
F. & A N. Y, , Office, 45 Wall st.
1889
300.000
do
’ioo 2.517.000 T3 * J. & J N. Y. ,do
Office, 18 B’way.
100
1.678.000
4
F. & A
do
do
1889
1,000
935.000
6 g. M. & N. N. Y. ,
Trust Co.
100
4.890.000 2 ^ on pf, F. & A, N. Y ., Atlantic80 B’way.
Office,
1887
1,000
985.000
6 g. J. & J. N.Y. , Merch. Ex. Bank.
100
7.716.000
1%
Q.-J. New York, 1 Broadway.
£320,000
6
1889 50Ó &c. $1,908,000
4 g. M. & N, N.Y. , Office,115 B’way.
100
2.500.000
1H
Q.—J. N.Y., Co.’s Of.,32Nas8au
163,100
6
J. & J. N.Y., Am.Exch. Nat.Bk.
ioo 10,250,000
2
N.Y., Co.’sOf.,71 B’way
1872
1,000
1.100.000
6
& J.
do
do
100 35,430,060
2*2
& D. N. Y.,, Office, 4 Irving PI.
1878
1,000
587.000
6
& D.
do
do
1881 500 &c.
658.000
6
& A. N. Y. , Farm. L. & Tr. Co.
1888
1,000
1,500,000
5
M. & N. N.Y.,,Office, 4 Irving PI.
........... c* 1890
Colorado Coal <f Iron — Stock.. . . . .
________ ________________________________
L.
in
T
.„o ,
--------INTEREST OR DIVIDENDS.
Bonds —BrinciAmount
pal.Wehn Due.
Outstanding Rate Per When Where Payable, and by Stocks—Last
Cent. Payable
WTiom.
y
Dividend.
Tor ,explanation of column headings. &c., see notes on
______________
first page oi tables.
0 ^ ^ v i o f l L! t i ^ RaUT ay8 ¿ U n io n Stock Y a r d s - Stock..
C
SUPPLEMENT.
July 15,1891
July 15,1891
July 1. 1915
July 15,1891
Aug. 1, 1891
Aug. 1, 1891
Feb.' " Ï,' Ï900
Jan. 1, 1909
Oct. 1, 1891
Aug., 1891,
May 1, 1919
Aug. 20,1891
Jan. 1, 1917
Oct. 1, 1891
1891 to 1900
Sept. 1, 1919
Oct. 1, 1890
1892-1895
Jan. 31,1891
Jan. 1, 1897
June 15,1891
June 1, 1898
Aug. 1, 1901
May 1, 1908
e^uitable^nt^wrfrfn0i»i^^Ca^°-+^as certificates, trust certificates for an
T “ le S a fe s t m the securities so held. See Y. 53, p. 21.
G M c e r t ifl^ A a ^ A ^ ? 1 1 rePresent all the property that the Chicago
01
Ms^ratalde nrnnnrtLi1
presented, certify that the holder is entitled to
Proportion of the ownership m all the stocks held by the
r e c e t o f t k e d ^ d d e n d to thej f n o f.the, bonds), and has the right to
Tn TnnA 1 aoi o d
eo^ and to vote the same as he may choose,
ciali on
reported reached with the city offi- dends then changed to auarterlvi 2 • T «ir 9 Per cent; in May (divior at least «ib< nonf r i i Clty gettmf 3 ^ per cent of the gross receipts,
vo
e L —the nlve°Af°2n L
^
and Paymg $1 Per 1.000 feet for its toa8
g old.Ci<(Y t
5°3fpy 94e) ^ VidendS « n ’the ^
Preferred "stock h S f t e i
? oqq
prlce of gas to other consumers to remain at $1 25 until
fo8
llow W until $1 has been reached. (be Price52. n. 939 made eachi year
n m ff
5 centf
should be in .Tnlv aoi
ioiiowing
See V.
Pueblo,1
*CoL?is!a large owner oTimal a u d ^ Wlti1 t?ead Juarters at
11
1
and
v f S p° 95Pany CaU6d the Economic F oel Company was formed le^ of land and town sites around South P up,bin
P^jeago Gas Company owned $14,887,625 of the $14,984.200 Puebio?^cil.Pmen^ C° mpaiiy’8 W d 8
An abstract of the report of 1890 was in V. 52, p. 426.
+h?f^
C 1Sanie? wbose bonds are given in the table above and
0H
INCOME ACCOUNT.
shareholder of t h e ° r v d in trust for t ie benefit andsecuri^o’f the
1888.
of t K o l d e r o fh
thAC^ ? ° Ga8i Trust Company, and for the security
1889.
1890.
at+o7eni){=5r8/ , tbe mortgage bonds that were then, or might there
i
$
after, be issued by any of said companies. Through its interest in said
2,212,623 1,300,416 2,769.490
sto“ ka<Tfour ° 3 t 7 ™ ° controlled all but ¡ i s T o O o f f f i © ®
. 300,149
123,377
500,625
the fonowtoJ h S 1 r Q pariie8’ f hree of wbich have outstanding
T
209,940
209,940
209,940
6s? Hvd^P^rk Gad ro L * 9AA non Company, $300,000 1st mortgage -«*vvi.voe, v u o w u i l l , OAUUt
s
10,402
17,057
5^258
Heat & Power Pn « ^ a ’ a a a ?’?0018^ mortgage 68: and Illinois Light Taxes and insurance......
44,108
34,076
Items to profits and loss.
5,305
45,089
11,365
1 Pin 1 8 9 1 , ’ 4 per “ " t: la 1899' Mapoh' »> July. 1! October,
> 225,647
316,194
260,639
74,502 df. 192,817
239,986
1890 32® « 8 ;
T a n d lS e t T h e t n l
« 2 i 9n i 78 avfyi l t o J T . 30- 1891 (6 months) gross earnings were houses, ^ ^ c o n i S ^ ^
anU
e
K u K t e r i s i a n d e* 75 Po o in ^ d 0
+^ivl!l end8 after deducting elpenses, *8 0 2 T J^sA A n ^A ^d $1,023,683 (terms being, cash $190,839, on time
against ^ 1 F«Q 4 a , e™?09 pald ^ C as Per agreement, $778,183, iq o a ’Ttyu’ se?urities at value taken $30,000), against *2 002 1 0 3 in
lt7
six month?15’894
fl st 81x months of 1890 and $738,714 in second fo8 i
r8*
« « « 8r 1+,89 iu^uded the sale to toe D ^ o p m V n ’t C om paq
8
f t ^ $1,561,666, mostly paid, for in securities. E. J. Berwind President
44I3
n00090n k O L S ng^ T 8 o eA ^ ’8?2;000i operating expenses, $1,- Office in New York, 35 Wall Street. (V. 48 t> 189 3 « 8 4 « 9 v T o i '
|
surffius’ * T 3 5 4 00 A f ; ^|k38?-000: interest on bonds, $1,035,000 ; 690, 824; V. 50, p. 352, 450, 483, 519 ; v ! 5 2 ^ ’426 ;’ Y. 53, p.'4!.’)?aaV/V, 1 ,00°; or 5 52 per cent on the stock; dividends paid
$750.000 ; balance (surplus), $604,000.
menus paid, Ht< ^ Z ? n ™ l» u e U - / Seei M a p j - T M s company owns the fee simple
?
21,000 acres of coal lands m Huerfano, Las Animas, Gunnison
Bales of gas by constituent companies: In 1890 were 3 1 4 4 3 4 « +i,„„
Pitkin and Garfield counties, Col., and has equipped and in operation
1887 C
were(i ee’o'si'bf8*SeW6re v’ ,8,09? ’ ^ 188^were’2 ^ i i r 4 l ( 1
;0ui six mines, with a capacity of 6,100 tons of eoal daily It operates and
controls the only anthracite coal mines west of Pennsylvatol and also
purposes0 1 0 1 C alS 8ultable for domestic, gas, smelting and coking
1118 °
mortgage indebtedness can be incurred in excess of
aha
t 'b ic a g o J u n c t io n R a ilw a y s & U n io n S to c k V i n i « rp, • without the consent of 75 percent of t o e p r e t e
company, incorporated in 1890 under the laws of tiiA
?.a tb.e common stock can be paid only from the surplus earnings after
* eTVnii’sAap PUrclia8e ^
Per cent of the stock of the Union Stock Yard the dividend on the preferred stock and a sufficient sinking- ?und to
of Cmcagrn, which latter company owns the entoe cover the depreciation of land and equipment by reason of ?oal/Sned
«
a
»
«
anFin A i S V1 8 9 1 f°*7 5 A A ^ rei% red stoc£ is| Per centcumuSuve.
ad?t.^
i f ^ ^ l s I l l pT“ 0® ^ forsaleat Par- See
s S ° | n ^
Dividends on common stock in 1891, Feb., 3 per cent • Oct 3
Igon “ or this issue *8A AAA* ^ ort^beenbonds was authorized' May 1,
e
S a t 0 £ £ K ? th e '^ ity f'T l? ^ p t f f i d ^ X c f " 4
^
1889, oTthis^issile’1
$80,000 have
canceled; $935.000 are ontstandmg, and $185,000 can be sold if required for additional lands or
X “„ " f h X X 2 » u rS o P Z e M
,
M,llUre tto t •*»*-
Balance.............. ................................
^2*74. qqq i a
p a L lir s ^
TO fcthe Chloago Required for 8 per cent on $1,678,000 preferred stock;;;;; 134,240 00
the company a certain amount of business’ vea^lv^A't1thAg^?ran+^ed
Surplus..................................................; ...................... $140,598 14
i qqq I q89'?°ntot/?1 net, earamgs were $305,906, against $230,673 in
t
189f > f “ pcr c e n n f 9L jk m ^ O . ^ V e r t ^ t ? July i s ^ C mm° n’ in - i f H ; A f i t i l “t : s g T s l i !' vnm p S?7 ,ofl"16' 18
8
°
.|294,475; interest on bonds, $500,000; balance net iim o m ^ ll 0 2 2 ’
304; adding interest account ($26,463), total net, $1 048 7 0 7 • on?
which paid dividends (10 on common and 6 on pref )’ *988 l i V ^ pqt^
ance, surplus, $60,650.
peer.), ^988,117; bal2^ 1 8
^
t
& Transit Company from January 1 to Feb
f i i a s ■!%. f £ g . i r f i l f i K i 0381
i
i
Ola f l i a ( H . B . ) C o m p a n y .—Incorporated under the laws of N a®
carry °u the mercantile business of the firm of
* 3 e n n n l ni Cv - of/ ? w York.City, Mr. John Claflin agreein|tohold
f 9!909’000 stock and to remain President of the company till Mav
£89f> if agreeable to stockholders. Preferred stocks have preference
both as to principal and dividends. Holders of $1,000,000 first nr??
7e ir8 Q9ani $ 1 ’ 0 0 0 >
909 second preferred had the option, prior to Mav
7 ^1892>of surrendering their certificates and receiving therefor on^
umber of shares in com. stock and one-half in the same class of
nf 0 7 ? ? 1 stock as surrendered. The company’s premises have a frontage
d
$2 000??oo ° i t t n + bi Streei ’ and with afi appurtenances I r e Valued ^
»4,000,000, its total assets July 1, 1891, including merchandise
accounts receivable, etc., being put at $14,204,235. The profits ^fonthe
h 7 9 & i 3’t v 6i £ l , &
:
ties, with extensive works thereon, in Ohio, a full description oi which
was published in the Chronicle of February 26.1887 V 4 4 -n 9 7 «
The Central Trust Company of New York istrustoe of the m’o r tg S !'
After May 1,1888, two cents on every ton of coal from the mortgaged
premises goes to a sinking fund; bonds tendered may be purchased at not
above 105. Car trust notes June 30,1890, $105,300. I n 1890 authorial
v 5 ^a’°a ° <?80 ^e Ceii;.n?a-cumulative preferred stock; par, $100. See
<
oQ
p e S n t ; 5 g 82^. Dlvxdends on Preferred: In 1891, February, 2^
Au’
« ^ ? 2 i ^ arcbi9;L ta Jun? 30> 1999 (three months), net earnings were
$48,185; surplus oyer charges, $30,155, against $5,635 in 1§89 In
fiscal year ending March 31,1891, gross earnings w e r e *1 iqaaitV„ if
$147 638 (against $121,225 in l ’s I s - W S p lu s ^ F v lr t o t S t t a S
and dividend on preferred, $31,012; from which paid royalties on coal
S r ^ n ,l | & l f i ,7
a(fierwT572S
'
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146
IN NESTORS’ SUPPLEMENT.
[V
ol.
LIIJ.
Subscribers w i l l confer a great fa v o r b y g iv in g im m ediate notice o f an y e rro r discovered In these Tables.
MISCELLANEOUS.
Date Size, or
For explanation of column Leadings, «fee., see notes on of
Par
first page of tables.
Bonds Value.
Delaware Division Canal— 1st M. (ext’d 20 years in 1878).c
Denver City Cable—1st mortgage, gold_____ ..
c*<fer
Denver City Water— GeneralM. for $7,000,000gold....o
Denver Tramway—1st mortgage, gold..........
Amount
Bonds—
Princi
INTEREST OR DIVIDENDS.
pal,When Due,
Rate per When Where payable, and by Stocks—Last
Cent. Payable
Whom.
Dividend.
1858 $1,000
$800,000
6
1,000
1888
3.313.000
6 g1,000
1890
1.138.000
Î gg1,000
1888
498.000
6
Consol, mortgage, gold, for $2,000,000. ................. c*&r 1890
1,000
1.219.000
6 g.
Detroit Mae^. < Marquette L a n d Co.—M. (inc.) red. at 100.r 1881
6
1,000
3.551.000
7
Detroit Union MR. Depot < Station—1st mort., gold_ cl 1888
&
_
1,000
600.000
4 g.
Distilling < OattleFeeaing............ .................................
£
100 35.000.
000 1%
Edison Electric Illuminating —Stock............................. ..
100
4.500.000
1
Certificates convertible into stook (See remarks)..........
128,390
1
1st M.for $5,000,000, convert. ,g. ,red. at 110 aft’r 1899..c’ 1890
1,000
2.250.000
0
Edison General Electric—Stock for $15,000,000.............. .
100 14.000.
000 2 g Equitable Gas Light Co. o f New York —Stock.................. .
100
4.000.
000 2
Bonds........................................................................
1,000
1.000.
000 6
Certificates of indebtedness, redeemable in 3.891........
1,000
1886
750.000
6
E rie Telephone < Telegraph ...........................................
6
100
4.800.000
1
Gold < Stock Tel.—Stock,rentalguar.6p.c.99"yrs. W.TLTel.
&
100
5.000.
000 l 1
«
Bonds, pot mortgage............................................... .<
500
500.000
6
Illinois Steel—Stock....... ...............................'."..""I"."*!"..
100
18,650,635 5 stock
Debentures, subject to call at 105, convertible into" stock 1890
1,000
6.200.000
5
Internat’l Ocean Telegraph—Stook,6p. c. 99yrs.,W.Union.
100
3.000.
000 1*2
Iro n Steamboat Company —Stock.....................
100
2.000.
000 2
Bonds,........................i .................................
500
1881
500.000
6
Laclede Gaslight— Stock($2,500,000 is pref.5 p.c.cum.)’ c
100 10.000.
000
1st mortgage, gold.....................................................0" 1889 100 &c. 10,000,000 2*2 on pf.
5 g.
J. «fe J. Phila., 226 So. Third St.
J. «fe J. N. Y., Taintor < Holt.
fe
M. «fe N.
New York Agency.
J. < J.
&
Denver.
J. «fe J.
New York City.
A. «fe O.
J. «fe J. N.Y., Farmers Loan«feTr
Q.—J.
Peoria, 1 1
1.
Q.—F. N. Y., Office, 16 Br’d St.
Q.—J.
do
do
M. «fe S.
do
do
Q - f . N. Y., Office, 44 Wall St.
Q.—J. N. Y., Office, 340 3d Av.
F. «fe A. N. Y., Central Trust Co.
J. «fe D. N. Y., Office, 340 3d Av.
Q--F. Cq.’ s Of., Lowell, Mass.
N. Y., West. Union Tel.
M. «fe N.
do
do
F. < A. N. Y.,MetropolitanTr. Co
&
J. «fe J. N. Y., John Paton < Co.
fc
Q.—J. N. Y., West. Union Tel.
N. Y., Pier 1, North Riv.
J. «fe J. N. Y., First Nat. Bank.
St. Louis, Office.
Q.—F. N.Y.,H.B. Hollins; St.L.
July 1, 1898
Jan. 1, 1908
Nov. 1, 1910
July 1, 1908
Jan. 1, 1910
Oct. 1, 1911
July 1, 1938
Oct. 1, 1891
Aug. 1, 1891
Co’s option
Mch. 1, 1910
Aug. 1, 1891
Oc*. 15,1891
Aug. 1, 1899
Juñe 1, 1896
Aug. 18,1891
Oct., 1891
May 1, 1895
Feb. 19, 1891
Jan. 1, 1910
Oct., 1891
Oct. 20, 1890
July 1, 1901
Apr. 1, 1890
May 1, 1919
Mass.,&c. In September, 1887, the stock was raised to $6,D epot Sc Station.—Owns terminal prop000,000, and in October, 1888, to $10,000,000, of which sufficient is re, Detroit, Mich., including 3J miles steel track, freight house,
fl
aerved to redeem the debentures, &c. Dividends—In 1889,1*2 per cent;
levator, etc., ali except the elevator leased to the Wabash, the
in 1890,6 per cent; in Jan., 1891,1%; April, 1%; July, 1%; Oct., 1%. In
Pere Marquette and the Detroit Lansing & Northern RR. com
1889 gross earnings (approximate) were $1,789,387; net, $1,089,379 panies. The lessees pay taxes and insurance and $94,426 as rental;
(against $638,135 in 1888); interest, $140,256; sinking fund, $200,000; ?§bnearnP g, of elevator averaged $25,000 during the years 1883 to
8
surplus, $749,123. Mr. J. W. Mackay, President; Mr. A. B. Chandler,
J n year 1890 receipts were: from rentals, $89,411;
¿econdVice-President.—(V. 49, p. 403; V. 50, p. 71, 706, 735.)
elevator, $27,010; total, $116,421; expenses, including taxes, insur
^ C o m sto c k . T u n n e l.—Owns the Sutro Tunnel on Comstock Lod ance and expense of elevator, $29,176; net income, $87,244. Stock
for facilitating gold and silver mining operations. The property wa8 authorized, $2,000,000; outstanding, $1,650,000; par, $100. James
Jaimary 14,1889, and this company formed in September. F. Joy, President. (V. 53, p. 59.)
1889, witb 2,000,000 shares of $2 each, making $4,000,000 capital, ,
®
against $20,000,000 of the old Sutro Tunnel Company. The company der the laws of the a ifi® F e e d in g .—This company, incorporated unState of Illinois,
distilleries as
has contracts with 23 mining companies for monthly payments of roy- Illinois, 27 (of these 6 in Chicago and owns Peoria); Ohio, follows: In
14 in
16 (of these
alty at the rate of 4 per cent on the bullion yield at market price in 8 m Cincinnati); Indiana, 11; Missouri, 7; Wisconsin, 2; Minnesota, 1;
gold. The reorganization plan provides that one-half the surplus in Kentucky, 7; Nebraska, 2; Iowa, 1; New York, 2; California, 2; total
come above mterest shall be applied to purchase of the bonds if ob distilleries, 78. Also one alchohol works in Illinois and 3 in Iowa.
tainable at or below 75, and m March, 1891, about $90,000 was de Stock fisted on New York Stock Exchange in September, 1890. Addivoted to this purpose, thus reducing the funded debt by $231,000, the
al capital stock for $3,498,400, making total amount fisted, $35,bonds being purchased at or about 40. SeeV. 52, p. 571. In Marsh, 1891,
1891, in connection with the purchase of
coupons of May and Nov., 1890, were paid, the income from royalties the Shufeldt issued m June, distilleries at Chicago. Dividends, which
and Calumet
having been previously withheld owing to litigation. After paying the had previously been ^ per cent monthly, were in June, 1890, increased
May, 1891, coupon there was left about $100,000 in the treasury. For to 14 per cent monthly, in October to % per cent, in November to ^ per
eleven months ending August 31. 1890 (first fiscal period), gross earn cent; the dividends from December, 1890, to July, 1891, inclusive, being
ings were $231,287; net, $152,087. The average receipts during three at that rate; dividends then changed to quarterly, and in October paid
years ending September 1,1889, were $276,915 per year, and average 1*2 per cent. See V. 53, p.21.
expenses of operating, $83,337 per year.—(V. 49, p. 178, 471, 580; V.
l g90-91 was in V. 52, p. 641. For the fiscal year ending
50, p. 37,174 622; V. 51, p. 537, 608; V. 52, p. 427, 462, 571.)
March 31, 1891, the earnings from operating plants were $1,944,265;
®fifiracts,. $106,159; from rentals, $5,550; from interest, $37,<
xr55ov 80,11?£i& dJ EIle?*r *c D ig lit .—The property of this company in
r e^ - . X ^ ^ Pltt8burS is leased to the Westfnghouse Electric Company 783 ; total earnings, $2,093,759; expenses paid, $469,731; monthly
for $150,000 per annum and one cent royalty on every incandescent dividends $1,298,255; surplus for year $325,771; cash and cash
electric lamp manufactured by the lessee. For statement made to New assets on hand April 1,1891, $2,069,079. President, J. B. Greenhut,
$ ° : £ ® toek Exchange on listing stock, see Ch r o n ic l e , V. 48, p. 428. Peoria, El. (V. 51, p. 345, 425; V. 52, p. 641, 974; V. 53, p. 21.)
£
In 1890 stock paid 4% per cent.—(V. 48, p. 420, 428; V. 49, p. 434.)
E d is o n E lectric Illu m in a t in g .—Listed on New York Stock
C onsolidated Gas o f N e w Y o r k .—This company was organized Exchange May, 1889. In 1890, to extend its business in New York
November 11, 1884, under chapter 367, laws of New York, 1884 The City, the $2,000,000 convertible bonds (convertible into stock during
eompanies merged in it were the New York Gaslight, the Municipal Gas- years 1892 to 1895 inclusive) were issued. See application to New
fight, the Metropolitan Gaslight, the Manhattan Gaslight, the Knicker- York Stock Exchange in V. 50, p. 906. Stock was increased to $4,500)5
Harlem Gaslight. The total stock was $39,- 000 February, 1891. Dividends from 1885 to Aug., 1891, both in
078,000, of which $3,647,940 was reserved for working capital and for clusive at rate of 1 per cent quarterly. In January, 1891, an extra
dividend of 5 per cent was paid in certificates convertible into stock
indebtedness of old companies. (V. 46, p. 418, 537.)
whenever the company increases its stock beyond $4,500,000, or re
'Consolidation C oal.—Annual report for 1890 was in V. 52, p. 390 deemable in cash at the option of the company. These certificates will
The gross receipts from mines, railroads, rents,
1889.
1890
receive same dividends as the stock. In 1890 gross, $488,595; net,
&c. (including value of stock of coal on hand) .$2,339,645 $2,583.092 $229,079. against $124,032 in 1889. Annual report for 1890 was in
Net receipts.................................................... $407,996;
$468,456 V. 52, p. 202. Spencer Trask, President, (V. 50, p. 71, 771, 906: V. 52.
« i i ? ea o a l % ail4 8*?bInS fp
1
U?4 .in„ 1?90 took $181,739; balance, sur- p. 126, 202, 974; V, 53, p. 95.)
^ . S ^ 286’716- Baltimore < Ohio Railroad owns $3,810,000 stock.
fe
E d iso n G en eral E lectric.—Organized in April, 1889, and owns
. ™ 8 company guarantees also $1,000,000 bonds of the Cumberland stock of sub-companies as follows: Edison Electric Light, $1,400,000,
& Pennsylvania Railroad, which it owns, and assumes $55,000 of the out of total issue of $1,500,000; six manufacturing companies’ entire
Union Mining Company’s bonds. Dividends since 1880—For 1881 2 stock, $2,390,000 (see V. 50, p. 244); Sprague Electric Railway <
&
per cent; for 1882 and 1883, nil; for 1884 and 1885,1; for 1886, 4 ; Motor, $1,392,000, out of total issue of $1,400,000. The Edison Eleofor 1887,1*2; for 1888, 2 H ; for 1889, 2; in 1890, 2; in 1891, January tric Light Company owns all the Edison patents for incandescent elec
31, 2 per cent.—(V. 50, p. 313; V. 52, p. 390.)
tric lighting in North and South America. It grants exclusive licenses
D e la w a r e D iv is io n C a n a l.—Owns canal leased to Lehigh Coal for specified territory to local companies, and on October 31,1889, it
& Navigation Co. at interest on bonds and 4 per cent a year on stock held $1,749,573 of stocks and bonds of different companies acquired for
February 15 and August 15). 30,486 shares have been con such licenses. See detailed statement in Ch r o n ic l e , V. 50, p. 244 and
verted into Lehigh Coal & Navigation stock, leaving only 2,181 shares report for 1889-90 in V. 52, p. 163. In January, 1891, it was voted to
increase the capital stock from $12,000,000 to $15,000,000. In July,
unconvertible. Interest on bonds is guaranteed.
1891, Judge Wallace of the U. S. Circuit Court filed an important
D e n v e r C ity C ab le.—Owns an extensive system of cable lines in opinion, sustaining Mr. Edison’s patent for incandescent lamps. See
Denver, Col., and has the exclusive right to operate horse railways in particulars in V. 53, p. 95. The case will probably be appealed. Divi
that city till 1902. Mileage owned: Cable lines, 25 miles single track: dends from January, 1890, to August, 1891, both inclusive, 2 per
horse car fines, 47 miles single track total owned and operated Mav cent quarterly. For year ending October 31, 1890, profits, not in
1» 1891, 72 miles.
Stock authorized, $3,000,000; outstanding cluding those of the Edison Electric Light Co., were $2,098,116;
$2,77<L000; par $100. See application to New York Stock Exchange general expenses, $206,679; dividends, $665,314; surplus, $1,126,123.
at length m Ch r o n ic l e , V. 50, p. 487.
6
President, Henry Villard.—(V. 50, p. 244, 245, 525, 771, 904, 910; V.
D e n v e r C ity W a t e r .—Owns water works supplying the citv of 51, 875; V. 52, p. 163,164, 204, 498, 762.)
D enver Col., and suburbs. The general mortgage (trustee, Central
E q u ita b le Gas L ig h t Co. o f N e w Y o r k .—Incorporated March
Trust Co. of N. Y.) is for $7,000,000, but of this amount $3,000,000 9,1882. Owns three blocks between Thirty-ninth and Forty-second
.for futui® construction and improvements, and Streets, First Avenue and East River; also 32 lots between Fifty$2,862,000 are held to secure the payment of $2,575,000 of prior lien eighth and Fifty-ninth Streets and Tenth and Eleventh avenues, and
bonds. These latter include $2,100,000 Denver Water Co. 7 per cents four lots southeast corner Eleventh Avenue and Fifty-ninth Street.
due Jan. 15,1895, but redeemable at pleasure of company on any cou- Total assets January 1,1889, $6,185,870, including mains about 114
pon day on thirty days’ notice; $75,000 Beaver Brook Water Co 6 miles; gas works valued at $2,501,952; real estate at $1,190,922. In
and 7 per cents, due $31,000 April 1,1903, and $44,000 July 1.1906 • 1888-89 $1,000,000 new stock was issued. Dividends—In 1886, 54 per
and $400,000 of 7 and 10 per cent bonds due in 1891.
’
Capital stock, common, $5,000,000; preferred, $2,00 0,000. In vear cent; from 1887 to O ct, 1891, both inclusive, at rate of 8 per cent
yearly. (V. 48, p. 129.)
1890-91 gross earnings were $384,155, against $308,444 in 1889-90
E rie T e le g ra p h Sc T elep hone Co.—This company owns 65 per
The gross earnings for 1890-91 it is estimated will be over $500,000: cent of the Cleveland Telephone Co., 70 per cent of the Northwestern
net, $400,000; interest charge, $220,000. Seethe official statement to Telephone Exchange Co., and 70 per cent of the Southwestern Tele
the N. Y. Stock Exchange, with balance sheet, etc., in Y. 52, p. 975.
graph & Telephone Co., operating in the States of Ohio, Minnesota,
D e n v e r T r a m w a y .—Owns 18 miles of cable road and 35 miles of North and South Dakota, Texas and Arkansas, under licenses from the
electric railway in the city of Denver, Col. Full abstract of the consol American Bell Telephone Co. On March 1, 1891, it had 13,376 sub
idated mortgage was in the Ch r o n ic l e , Y. 52, p. 354. (V. 52, p. 350 scribers, and exchange offices in 50 cities or villages. The company
352.)
has about 2,000 miles of wire under ground in the cities of Cleveland,
D etro it M a c k in a c Sc M arquette L a n d G ran t B o n d s .—Owns St. Paul and Minneapolis. Stock, $5,000,000, of which $200,000 is in
about 1.300,000 acres of land in Northern Michigan, along the line of the treasury. Par value of shares, $100. No bonds or indebtedness of
the Detroit Mackinac < Marquette RR., which road was sold in fore any description.
fe
closure October 20,1886. The land grant bonds retained their lien
Dividends have been—In 1883 (6 months) H 4 per cent; in 1884, 2 ^ ;
upon the lands covered by their mortgage. The bondholders received 1885, *2 ; 1886, 2*s; 1887, 2 ^ ; 1888, 4; 1889, 3%; 1890,4; in 1891,
a bonus of 35 per cent in common stock of the Duluth South Shore & February, 1; May, 1; Aug., 1. Transfer office, Lowell, Mass.
Atlantic RR. Co. in March, 1888. Lands are free from taxation till
For the year ending March 31,1891, the three companies controlled
1895. James McMillan, Detroit, President. (Y. 46, p. 320, 573,)
report gross income o f $791,063; gross expenses, including dividends
“ e p t e m b e r , 1891.1
S
MISCELLANEOUS
STOCKS A N D
BONDS.
M A P OP TH E
M INNEAPO LIS,
STREET RAILWAY SYSTEM
PROPERTY OF
MINNEAPOLIS STREET RAILWAY COMPANY.
147
148
INVESTORS’ SUPPLEMENT.
[ V o l . L it i.
Su bscribers w i l l confer a great fa v o r b y g iv in g im m ediate notice o f an y e rro r d iscovered In these T a b D ^
_________________ M IS C E L L A N E O U S ,_________
INTEREST OR DIVIDENDS.
\Bonds—Prinof~
___
I
'liftl.Whon ‘Hnu
Amount
For explanation of column, headings, &o., see notes on of
Par
t,
, , ---------—« 'pal,When Due,
,
When tin.
first page of tables.
Bonds Value. Outstanding Rate Per Payable Where Payable, and by Stocks—Last
Cent.
Whom.
Dividend.
Lehigh Coal < Navigation —Stock.......
&
$50 $14,315,700
ft
2 13 M. < N. Philadelphia, Ofllce.
May 25, 1891
1st M., canal, 6,030 acres coal and 76 m." L. & S. RR
1864 Various
5.000.
000 4*2
Q.-J.
do
do
July 1, 1914
1st mort., Leli.& Sus. RR. Mauch Chunk to Easton.... 1867 Various
2.000.
000 6
Q —F.
do
do
Feb. 1, 1897
. 2d M. on Can. Coal & RR. and 1st M. Nant. RR. ,26 m c 1867 500 &c
1.843.000
J. & D.
do
do
Deo. 15, 1897
Cons. 3d M. Canal, Coal & 122 m. RR.; 2d M. 26 m. RR
1871
1,000
2.466.000
J. & D.
do
do
June 1, 1911
Greenwood, 2d on 1,254 acres coal land (ext’nded,’77) r 1872
1,000
643.000
F. & A.
7
do
do
Feb. 1, 1892:
General mortgage for $15,000,000, gold
r 1884
1,000
2.785.000
41
eg Q-—F.
do
do
May 1, 1924
Lehigh d Wilkesb’re Coal—Leh. Coal &Nav.M.,g., assumed 1867 500 &c.
S
500.000
6 g. J. & D. Phila., L. Coal & Nav. Co Dec. 15, 1897
Lemgh Coal & Navigation mort.convert, gold,assumed.. 1869 500 &c.
658.000
M. & S.
.
do
do
Sept. 1,
Sterling loan, sinking fund, drawn at 100....................e 1874
£200
1.110.000
I g- M. & N. New York and London May 1, 1894
1899Consol, mort. ($6,116,000 income held by Cent. N. j.j.c 1875
1,000 11,500,000
Q.-M.
7
do
do
Sundry real estate mortgages................ ; ...................o
June 1, 1900
235,646
6
New York and London
5s of 1912, cumulative sinking fund (not drawn) .. .. . . .o 1888
1,000
2.872.000
5
M. & N.
do
do
Nov. 1, 1912
income “ B ” bonds, not cumulative, held by Cent. N. J.
2.353.000
Madison Square Garden—1st mortgage, gold............... o* 1889
1,000
1.250.000
M. & N, N. Y., Merc. Trust Co Nov. 1, 1919
M an. Beach Hotel < L an d — Gen. M. for $1,500,000 goid c* 1890 500 &c.
6
f g- M. & N. N.Y.,Corbin,Bkg.,192B,
1.300.000
Nov. 1, 1940
Maryland Coal—Stook....................... . . . . . . . . . . . . . f . . . . . . .
100
4.200.000
1 g*
New York, 35 B’dwav. July 1, 1891
1st M., drawn at 100 (s. f. has retired $110,000)..’ .""..’c*
1,000
140.000
M. & N.
7
do
do
Nov. 1,
Maxwell Ld. Or.—Pr’r lien M.g. ,red. atlOO (or 110 at mat.) c 1888
500
3.000.
000 6 g. J. & J. N.Y., Lond. & Ams’dam. Jan. 1, 1896
1913
„ I } 1 0 1 ® M. (£987,100 pledged under prior lien M .)....... 1880
011
£100
£12,100
Metropolitan Tel. < Teleg. Go.—1st M., g., s.f. (notdr’n) c<fcr 1888 $1,000
&
$2,000,000
5 g- M. & N. N. Y., 18 Cortlandt St. May 1, 1918
Mexican Telegraph—Stock................................. ^ , .......
100
2.000.
000 2^
Q.-J. N. Y., Office, 37 Wall St. Oct. 10,1891
Minneapolis Street By.— 1st mort., redeem, yeariv at i05
1880
100
391.000
7
M. & N. N. Y., Farm. L. & Tr. Co. Nov. 1, 1910
Mortgage, 1883..................................... .
600.000
M. & N.
6
do
do
Nov. 1, 1913
1st consol, mortgage, gold.................. . .. . . ............ o*&r 1889
i",ò'do
8.093.000
5 g. J.15&J.
do
do
Minnesota Iron Co.—Stock.............. ...... .'
Jan. 15, 1919100 14,000,000
1*2
Q —J. N. Y., Mills Building. Oct. 1, 1891
M orris Canal—Stock, consol., 4 p.c! gu. 99 yT8. by Leh V
100
1.025.000
2
F. & A. Leh. Val.RR. Co., Phila.
Aug., 1891
Preferred stock, 10 p.c. guar. 999 yrs. by Lehigh Valley
100
1.175.000
5
F. & A.
do
do
1st mortgage...................................... .........®
i. 76-’85 1,000
Aug., 1891
1,000,000
7
A. & O.
do
do
Apr. 1, 1906
paid, $765,617; surplus, $25,446. For the same period the proportion
. X o n ec5
fr- m
,
o
companies by the Erie Tel. & Tel. Co.
« i qo AAA8’469: dividends paid by the Erie Tel. & Tel. Co. (4 per cent)
$192,000;-surplus, $16,469.
T e le g r a p h C o.—Operated by Western Union
Telegraph Company by contract for 99 years from January 1,1882, at
6 per cent per annum on stock and bonds.
IH In o fs S te e l.-T h is company was formed May 1,1889, by consol
idation of the Joliet Steel, Union Steel and North Chicago Rolling Mill
companies. It owns 19 furnace stacks and in 1890 received 3,642,660
tons of raw material, and turned out 720,000 tons of pig iron, 36 000
tons of speigel, 733,000 tons of ingots, 509,000 tons of rails, 204,500
inUP^° t r * ^ AAA AA m?rc5la? ts’ +st® and d-on, etc. Stock is to be
A
el
^
qo’a 00 •1 _ order to increase the capacity of the works,
.n
■vl^dends. m 1890 paid 7 per cent; m 1891, Feb. 19, 5 p. c. in stock.
The balance sheet on July 1. 1891, was as follows’: Assets-Casli in
bank and on call, $782,366; accounts receivable, $2,924 262 • bills rem Z u l% i o r 2 :oqI 5 il, veIltorJ> $7.098,282; stocks, bonds ami invest’
l
ats .^ 2 6 8 ,2 9 1 ; plant and real estate, $15,833,041; total assets,
$31,o35,7o4. Liabilities-Capital stock, $18,650,635; bonds, $6,200,= a *».
.“
I n t e r n a t io n ja * .O cean T e le g r a p h C o.—The Western Union
l '
u(Fnl
V G T lT IJ
V S jG X
Company, operatesrui oo jc.un contract for 99 years from January 1
the line by liuui janua-l
iqoo D9.V1 1 * P ---- POTir nnn ttaati
I nnZ.
T O H T*
A
^ ’
1882, paying 6 per cent per year on stock, of —i. j -1. 1it. ovvns $1,623,100.'
which a .
s te a m b o a t C o.—Property consists of seven iron steamboatsDividends since 1880—In 1881, 5 per cent; in 1882 to 1884 inclusive
iso’n1 4t 85 alld 18,8b’ 3j in 1887, 2*2 ; in 1888, nil; in 1889, 2; in
?
year ending Sept. 30, 1890, gross rcccnts were
•
net $68,748; surplus over interest,$40,727, against $37,130 in 1888-89.’
i
I**fflft.-T h is St. Louis company was incorporated in
18o7, in 1889 it came into control of all the other gas companies in St
Louis, through ownership of their securities. The Laclede’s contract
with the city of St. Louis, running to 1916, perniits it to char-e con
sumers $1-25. The city sought to annul this contract, but it was sus
tained in the courts. A contemplated consolidation with the electric light
companies In St. Louis was abandoned in June, 1891. Prefeired stock
is 5 per cent cumulative. The Central Trust Co. is trustee under
Chronici Eg v S49
+°
Yoi'k stock Exchange in full in
chronicle , V. 49, p. 657. Net earnings from sales of gas”to nrivate
consumers to August 1, 1891, increased over corresponding sJven
months of previous year, $64,691 07. Quantity of gas sold in Augusf
1891, was 54 365,700 feet, against 44,^86,200 feet’ iS August l i o l :
+n2r +a+ei ",8 ^ Per pent. For the five months ending May 31 189l’
feet agmiisu 2 j /,7o4,200 i^aiS ^ pris
Vmb consumers was
xeeb,^againstnz 9 ^ 7 5 ^ 200 f in 1890, yielding m net nrofit. 351,621,300
aa
against $182,661, this being exclusive of t L c it y g ^ c o n t r a c t wWch
!890, When the city substituted el^tricity fo7?as
NYY^Y ork office, 40 Wall Street.—(V. 50, p. 71 451 590 von w i
801,910; V. 51, p. 537; V. 52, p. 321, 498; 718, 899, 939.)
’
’
’
iAo a ?, & N a v ig a t io n .—Owns canal from Coalport to Easa 1 oa
°
and l®ase8 Delaware Division Canal, 60 miles
Also owns Lehigh & Susquehanna Railroad, Phillipsburg N J to Uni™
Jooctaon, Pa., 105miles, with branches, 56 m X , andg’leases fo? 999
years Nesquehomng Valley Railroad, 17 miles; Trescow Railroad 7
Qoi ???, y^ars rrom 1871 to Central of New Jersey RR., rental bein^
3T^AP fWh?pi°T??u°88 ®
armngs, with a minimum rental of $l,414,40(f
mentl $ 2 sYn Aim n/tu« ° f m6^ J^B6y assumed (in purchase of equiprv-’Pi1
of the &old ioan due 1897, and the Lehigh & Wilkes*fi 6 oe5 b9 aLp\O
I^P^-ny a88Umcd $o00,000 of the gold loan due 1897 and
$660,500 (all) or tbe convertible gold loan due 1894 additional tn
. Dividends since 1880—In 1881, 2 per cent; in 1882 4- in
in 1884, 6; in 1885, 5 ^ ; in 1886, W in 1887, 4 • in 1888 f u in3*
5; in 1890, June, 2 ^ ; December, 2 ^ ; in 1891 ;M ay
^ ’ m 1889,
Report for 1890 was in Ch r o n ic l e , V. 52, p. 320 '
•j.
. ,
1888.
1889.
1890.
Receipts—
®
$
$
From railroads and Nesque. Tunnel... 1,804 783 1,816,436
1,766,174
43 20 1
Canals................................. ..............
48,494
45,518
Net profit on Lehigh Coal... ....... . . . . 358,968
204,563
148,049
Royalty on coal mined, &c..................
46,712
83,771
105,308
Total receipts............................... 2,253,664 2,153,264 2,065,049
Deduct—
Interest, rentals, taxes, &c................. 1,182,749 1,161,096 1,140,121
Less sink. fd. of 10 p. c. p. ton on coal.
92,101
118,242
99 ’ - )
Less deprec’n on coal improv’m’ts, &c. 282,002
105,911
* . ,o33
Surplus for year.................................. 696,812
768,015
718,445
Balance to credit of div’d fund Jan. 1 . 646,745
766,691
893,513
Dividends......................... ............(4^)576,866 (5)641,193 (5)714,484
Balance to credit of div’d fund Dec.31. 766.691
893,513
8 9 7 274 .
—(V. 48, p. »4 9 ; V. 49, p. 530 ; V. 50, p. *74; V. 52, p. 3*0.)
t h ^ e nwV i 1£ esbT r re Ç oaï*—This company is controlled by
^
a
^ ^ y ^ t.hA ftnriaAHilo+n/l m
StOCK , also OW ° $6.11 fi.rtOOnfd r o u g h ownership of a«majority of the
HS i
Ant-rvA «
«9 RQA1 A-? * 5 T '
wiiouio uuu oy uentrai inew jersey,
^J’bJO.iOy. A sinking fund for bonds due 1912 is provided from sales
m i n e d * ^ n ^ ds
“ eilt o f 10 cents fo^ each ton of coll
mraed °n property included in the first lien ; no drawings.
l
reeS n tT of ‘« s r^ f i 7 ifi0rw 90 wasiT1 Y: 52, p. 533, and showed to ta l
$1446 1 9 2 i n c ^ e r o p e r a t m g e x p e n s e s , $827,913, (agst.
* o cq 1 04 2n T 1889l 5 interest, bills payable, sinking fund charge s.
i
?n 18904 n ^ f i e’i q f f n i ’r 13! 220' + deluded in operating expenses
4
m 18JO was $116,191 for disasters at collieries. (V. 52, p. 533, 680.),
v ^ f e a t 0! 1 S q u are G a rd e n .—Owns in fee the block of land in New
York City bounded by Madison and Fourth avenues and 26th and 27tli
S
f ’ together with building thereon, containing theatre, amphi
theatre, etc. Stock, $2,000,000. There is a second mort. for $750,000.
.
.® e a c li H o t e l & L a n d ( L im it e d ). —Owns the rea^
estate and premises known as Manhattan Beach, with the Manhattan
M^^mttTri< S n t kotels’ music amphitheatre, &c. Successor to the
r
i ?®ach Improvement Co. whose property was spld in forc* 5 0 0 aaa
i16gleue5a mortgage is practically a first lien, as the
J
$500,000 prior bonds issued by the New York & Manhattan Beach RR
«ire provided for by^the consolidated mortgage of the New York Brookiffhn r l^ ailT
^ °’>^5is latter mortgage being guaran
teed r > A $ Long
of VVlUUIi $500,000
lei T Vby theA V i ^ Island —
V RR. Co. Stock, $2,000,000, Ui which «T)DUU,UUi.
1 preferred. Gross income of the property in 1890 $357,343; net
8
earnings about $62,637. Austin Corbin, President.
it i
o 3 ^ r y la S d C o a l C o.—Controls 6,000 acres of land in AUeghanv
aad. G+r m^i5°,loYfcle. Y d- In 1890 produced 357,117 tons of coal
8’
against $268,438 m 1889. In 1890 net earnings over expensed
$200*000 o/itsr s tfp t,3T ■i n i 89? °1m^any pm-chased and canceled
i4,
°
-^iviclcncls i In 1890 (December 15) paid Ho per
6 t f f w 52 p ' l l ? )
1876; in 1891>
1.1 per cent ( V . 5 1 ^
L n m l G ra n t C o m p a n y .—Owns 1,714,764 acres in
Colorado and New Mexico containing coal, timber and land fit for
grazing and agricultural purposes. (See map in Supplement of March
1889, and prior issues.) The prior lien bonds are payable at 110 at
maturity, or redeemable at par from proceeds of land sales In 1891
interest was defaulted and is now paid with prior lien bonds, or cer
tificates convertible into prior lien bonds. Stock, £950.000 The
management of the property, until the date when all prior lien bonds
i'e o n V Paid ?ff’ Vo *? aCed in tlle hands of a board of trustees. In
s
AA
1890 land sales 18,409 acres, for $151,938. In 1889, sales 26 399
09 A aaa* $t>
70’8 8-+ 4 sset? in„
I
and cattle were estimated
at $14,020,000, President Board of Trustees, R. V. Martinsen. 4ft
?
8
8
8
,n C” ‘0MC“
» ' M »«l> 3.
M etrop o litan T'eleplione & T e le g ra p h C om pany.—This
companyTias exclusive rights under a perpetual license from the Bell
Telephone Company to the business of furnishing telephone service
within the city of New York and its suburbs, its territory having a.
r?dn
U5
mdes from the City Hall in all directions. Its stook is con
trolled by the American Bell Telephone Company. A sinking fund of
on® P®F cent purchases bonds, if possible, at 110, otherwise is in
.
vested in other securities. Trustee of mortgage is Mercantile Trust
^ a a w 1 UniffiiY^le^ ai& c omPany owns $800,000 of the
1
$3,000,000 stock (par, $100.) Dividends of at least 8 p. c. per annum
(payable quarterly, January,) have been paid since 1882. (V. 51, p 494 >
,
;a « T e ie g r a p h .—Company organized in 1878 under laws of
New York State. Has a cable from Galveston to Tampico and Vera Cruz.
738 mdes; land line, Vera Cruz to Mexico City, 267 miles. Also direct
cable from Galveston, Texas, to Coatzacoalcos, Mexico, 825 miles, dup
licating the Mex. Tel. and Cen. & So. Am. Co.’s Gulf cable system. Has
exclusive right for 50 years for all foreign telegrams to Mexico,
except telegrams to and from a neutral zone on the United States
border 156 miles wide, between the Gulf and Paciflo Ocean. Stock
was increased to $2.000,000 in February, 1890.
Dividends—In 1882 to 1886, inclusive, 8 per cent yearly; from 188T
to Oct., 1891, both inclusive, at rate of 10 per cent per annum.
Company owns 1,362 shares of the Central & South American TelegraphP°- Gross earnings in 1890, $419,691; net, $352,003, against $299.871
in 1889. J. A. Scrymser, President, New York. (V. 50, p. 71, 245.
M in n esota Ir o n Co.—Owns about 14,270 acres of land and six
V
rpn mines in St. Louis and Lake counties, Minnesota. Owns also $500 000 stock, $400.000 1st mortgage bonds and $3,500,000 6 per cent
i.Ppome certificates of Duluth & Iron Range RR. Co. Dividends-In
1890,3 percent; m 1891, Jan., Ha per cent; April, l ^ ; July l 1
«
Oct., l^a. Offices, Mills Building, New York, and Chicago.
7
■
Map.;—This company ha®'
tke exclusive right till July 1 1923, of operating street railways in th®
oity of Minneapolis. It has in operation 87 miles of track, and owns
r?1 estate valued at $1,100,000, and equipment valued at $1,000,000,
al
all of which property is covered by the mortgage of 1890. (See full
abstract of deedm Ch r o n ic le , V. 52, p. 356.) The company has the
right to run its cars by cable, electricity, horse power or otherwise.
It owns the entire stock of the Minneapolis Lyndale & Minnetonka
Railway Company, which joined in making the mortgage, and on whose
property the mortgage is a first lien. On December 9th, 1890, the new
electric road was opened for travel between the cities of St. Paul and
Minneapolis, The Minneapolis Street Railway Co. receives one-half off
S e pt e m b e r , 1891]
MISCELLANEOUS STOCKS A N D BONDS.
149
Subscribers w i l l confer a great fa v o r by g iv in g Im m ediate notice o f an y e rro r discovered tn these T ables.
Bonds— Princi
INTEREST OK DIVIDENDS.
pal,^When Due.
MISCELLANEOUS.
Date Size, or
Amount Kate Per When Where Payable, and by Stocks—Last
Par
Outstanding Cent. Payable
F or explanation of column headings, &c., see notes on of
Dividend.
Whom.
first page of tables.
_________ Bonds Value.
National Cordage—Common stock................ -...... -........
Preferred, 8 per cent, cumulative............... -...............
National Lead Trust— Certificates.. - -.......................
Notional Linseed Oil— Stook.... --....k - ......................
-National S ta rc h - Common stock ( $ 5 , 0 0 0 , 0 0 0 ) - - - - -
1st preference stock, cumulative, 8 p. cent |3 ,000 ,ouu
2d preference stock, cumulative, 12 p.cent ($2,500,000)
1st mortgage, gold (for $4,500,000)..................... -...... 1890
N ew Central Coal—Stock.............. ------......................
N ew England Telephone < Telegraph— Stock....................&
Bonds, 1st and 2d Series, each $500,000.... ------ -•- --® ’89-’90
Bonds, 3d Series, subject to call after April 1 ,1 9 0 1 ,at 1 0 2 1891
N ew England Ter.—1st M., $800,000, g., drawn at 110. .c 1889
N . Y .Mutual Tel.—Mutual Un.Tel. IstM ., g.,gu., not dr n.c 1881
N . Y. d Perra Coal & Iron Co.—Stock.. . .......
b
-"
1st mortgage, gold, sinking fund—not subject to caii..c 189Ò
N . Y. < Texas L an d (L im ited )— Stock..............................
£
North American —Stock for $50,000,000........
North Hudson County ( Street) R y— Cons. M. ($3,000,000) c 1888
Northwest E q u ipm en t-S tock ............- -- -■••-Northwestern TeZ.—Stock, 4 rising to 6 p.c., guar. West.Un.
1st mort., sink, fund, bonds not drawn, interest guar.c 1874
2bj
5.000.
000 2
50 c.
89.447.600
50 c.
18,000,000
1
4,450,700
4
2,219,400
6
1,846,800
3.337.000
6 g.
5.000.
000 1
75 c.
10.394.600
6
1,000,000
6
500.000
700.000
5 g.
1.978.000
6 g,
1
3,000,000
600.000
6 g.
1.500.000
(? )
38,642,500
’ é'
1.800.000
1*2
3,000,000
2%
2.500.000
7
1.180.000
$100 $10,000,000
100
100
100
100
100
1,000
100
100
1,000
1,000
1,000
1,000
100
1,000
50
100
1,000
100
50
500
the earnings of this road by virtue of its ownership of the portion of
ihA lin e situated within the city limits of Minneapolis.
The earnings since Jan. 1, in comparison with last year, have been as
below. The increase is largely the result of the opening of the electric
road between Minneapolis and St. Paul.
Month.
1890.
1891.
Month.
1890.
Ì891» 0
$70,873 May............... $52,740 $85,061
January..........$45,625
June............... 56,421 *59,435
February........ 41,767
62,000
M a rch ..-........ 48,910
70,568
Total........... $294,872 $425,436
A p ril............... 49,409
77,499
’ * Three weeks of June, 1891.
J Kennedy Tod & Co., fiscal agents, New York City. -(V. 52, p. 350
■356, 534, 642; V. 53, p. 21.)
___
M o r r is C a n a l . —Leased ApriL 1871, to Lehigh Valley RR. for 999
Vears The lessees assume bonds and scrip, and pay 10 per cent per
Inmim on «referred stock and 4 per cent on consolidated stock. In
1889 the Lehigh Valley ceased operating the canal, which will hereafter
Q .-F . N. Y., 132 Front Street.
do
do
Q .-F.
Q --J- N. Y., Office, 1 B’dway.
Chicago, Office.
Q.-FQ.-M, N. Y., Office, 29 B’way.
do
do
M. & N.
do
do
J. & J.
M. & N. N. Y. ,Cha se N ationalBk.
New York Office.
Boston, 50 Pearl St.
Q .-F.
A. & O. Boston.Bank of Repub,
do
do
A. & O.
F. & A. N. Y., Farm. L. & Tr. Co
N. Y., West. Union Tel.
M. & N.
New York, 2 Wall St.
do
do
Mi '& N.
N.Y.,J.S.Wetmore2Wall
Aug. 1, 1891
Aug. 1, 1891
July 15,1891
Aug. 1, 1891
June 14,1891
May 1, 1891
July 2, 1891
May 1, 1920
Feb. 4,1891
Aug. 15,1891
Apr. ’99-1900
Apr. 1, 1906
Feb. 1, 1909
May 1, 1911
Feb. 10, 1888
May 1, 1920
(?)
J. & J. Hoboken,N.J. istN.Bk.
Q .-F. N. Y., Office, 36 Wall St.
J. & J. N. Y „ West. Un. Tel. Co.
do
do
J. & J.
July
Aug.
July
Jan.
1,
1,
1,
1,
1928
1891
1891
1904
V n tim in l s ta r c h .—Incorporated in February, 1890, under the laws
of Kentucky, and owns properties capable of producing from 230 to 240
million prounds of starch yearly. The twenty concerns whose plants,
trade marks, patents, business and good will it purchased were focated
in the States of New York, Ohio, Indiana, Illinois, Iowa and Kansas.
The preferred stocks have preference as to principal as well as divi
dends. The bonds were issued at a rate not exceeding 75 per cent o f
the company’s real estate, and the bonds and the preferred stocks to*
getherrepresent tangible real and personal property purchased on a
cash basis The good will of the concerns, &o., is represented by the
common stock On Sept. 22,1891, there were in the company s treas
ury $549,300 common stock, $780,600 first preferred and $653,200
second preferred, and $1,163,000 first mortgage bonds. Dividends on
preferred stock have been paid in full to date; common
1891, March, 1 per cent. Hiram |Duryea, President. New York
office’, No. 29 Broadway.
tv« w n e u tra l C o a l (M d .). —The annual report for 1890, inV . 52,
p. 202, showed net profits for year of $47,082, against $6,108 m 1889 ;
and balance to credit of profit and loss December 31,1890, of $248,654,
against $213,321 December 31,1889. Dividends since 1880-In 1881,
2 per cent; in 1882 and 1883, n il; m 1884,1; m 1885, n il; from 1886
to 1888 inclusive, 1 per cent yearly; m 1891,1. (V. 50, p. 243, V. 52,
p. 202.)
N e w E n g la n d T e le p h o n e & T e le g r a p h .-T h is company does a
telephone business in Maine, New Hampshire, Vermont and Massachu
setts under license from the American Bell Telephone Co. On January
1,1890, it had 17,275 subscribers and exchange offices in 91 cities or
villages. Stock $12,000,000, of which, on January 1,1890, $1,605,000
was m the treasury. The bonds were issued for improvements, placing
» t «■ » state of s ew
Jersev for the imporfation 0 1 hemp and the manufacture and sale of
•cordage It has acquired in fee the cordage properties of L. Waterbury
& Co of Brooklyn, N. Y., the Elizabethport Cordage Company of New
J e r^ v t h e Xenia Twine & Cordage Company of Oliio, J. E in e tt Sons
-poo+nn Pa the Akron Twine & Cordage Company of Ohio, _WIlliam
Wall’s Sons and the Tucker & Carter Cordage Company, both of Br(K>k-i_.
+i1 above the company acquired in 1891 the eleven
ft
mills in Canada, the Sewell & Day Cordage Co.
Cordage Co. the Standard Cordage Co. of Boston, the Day Cordage Co.
■of Cambridge the Wm. Deering & Co. Twine Mills, Chicago; the Field
a. r a te «. f * per cent per annum,
Cordage Cofof Xenia, Ohio; the Miamisburg Binder Twine & f^rdage
-Co Miamisburg, Ohio; the Middletown Twine & Cordage Co., Middle- three dividends yearly being for 75 cents, and one (paid February 15,
town,
theg Galveston Rope & Twine Co., Galveston Tex lt.a in 1891) for $1-25. In 1889 gross earnings were $1,255,570, net,
said the few remaining companies are m process ot purchase. See V. $298,265, against $270,727 in 1888.
N e w E n g la n d T e r m in a l C o m p a n y .—A. transportation^line horn
5'll?addition leases the properties of the Victoria Cordage Company Wilson’s Pomt, Bridgeport or other points on Long Island Sound to New
o f Dayton, Ky., of H. R. Lewis & Co., of Philadelphia, and Randall, York. The mortgage covers all the property of the company, including
real estate and dock property in New York. The New York & New Eng
^ It^ i^ s a id °that in^buying outside properties, rather than pay
land and the Housaionic Railroad by endorsement
^elusive, for
cash which might interfere with regular dividends on its stock, the and the payment of $15,000 annually from 1890.to
company has preferred to pay part cash and make deferred payments sinking fund, and $48,000,1900 to 1909, inclusive. Stock, $200,000,
on tC b a la n c e ,th e sellers keeping a mortgage on their propertns to
secure these deferred payments, which bear a lower rate of interest P1 vew ^Y ork M u tu a l T e l e g r a p h . — Successor to the Mutual Union
tbn^ th e stoek See V 53, p. 325. The preferred stock is 8 per cent Telegraph Company. The stock carries dividends of 6 per centper ancumulative, and has preference as to principal as well as dividends. No numuoder a lease for 99 years from February 15, 1883, to Western
m ortage or bonded debt can be created except with the consent of 80 Union Telegraph. The Western Union gives its collateral, trust bonds
per clnt of the preferred stock. See V. 52, p. 204, 279. Dividends on in exchange at par for the stock and bonds of this company.
•common stock: In 1891, May, 4; Aug., 2 ^ (quarterly). Dividends
N e w Y o r k & P e r r y C oa l Sc I r o n C o m p a n y .—Owns 640 acres,
on preferred: In 1891, 2 per cent quarterly. President, James M. controls 800 acres and leases 430 acres of coal and iron land In Hocking
Waterbury. New York office, 132 Front Street. (V. 52, p. 204, 279, VaHey region at Shawnee, Perry County, O. Has five coal udnes ana
‘ wo blast furnaces. The assets, as per balance sheet on Jan. 22,1891,
^ ^ a tlo n a i^ L e a ^ T T r u s tl—This organization controls a majority of were S3 791 823 For full statement to New York Stock Exchange on
the stock of thirty-one lead companies, including three smelters Tan62 f ;i8 9 i see V . 52%. 206. Dividends-In l887 4 ^ per cent; m
and one refinery for the production of pig lead. The stock so controlled 1888,1. Office, 2 Wall Street, N. Y. (V. 52, p. 204,206, V. 53, p. 21.)
I s t a t b e h a n d s o f t h e following trustees: S. Beymer, L. A. Cole,
N e w Y o r k & T e x a s L a n d .-T h is company took the lands granted
R R Colgate, A. T. Goshorn, F. W. Rockwell, D. B. Shipman, A. P.
to the International and Houston & Great Northern railroads, about
Thompson, W. H. Thompson and W. P. Thompson.
• I n August, 1891, the stockholders voted for a reorganization as a cor- 5?000?000 acres: On June 30,1888, had 2,287,497 acres unsold There
porationunder the laws of New Jersey. The company wdlhave^SO,- s$980,000 of land scrip receivable for lands at 75 per cent of its face.
N o r th A m e r ic a n C o m p a n y .—This company was organized in
'000 000 capital, instead of the present amount of $90,000,000, and
w ill also issue $3,000,000 of 6 per cent 30-year debenture bonds. The 1890 under the laws of the State of New Jersey as the successor to the
Capital stock will be divided into $15,000,000 of preferred stock, carry Oregon & Trans-Continental Company in liquidation. It purchased
ing 7 per cent dividends per annum, to be cumulative, and $15,000,000 all the assets of the Oregon & Trans-Continental, amongwtoch were meluded on July 1,1890, Northern Pacific common stock, $21,015,100,
•ofgclmmon stock. The proposed
used in paving off existing indebtedness of about $500,000, the re referred stock, $12,743,000; consolidated 5s, $1,900,000; consoUdated
mainder to be used as a capital in carrying on the various enterprises as. 50 per cent paid, $2,152,078. There was a considerable floating debt,
/vf ■ p Trust Bee V« 53,
f.'h
X56, 290.
01 but in November, 1890, this was largely reduced, as were also the securi
The report of President W. P. Thompson forthe year ending Jam 31j ties owned, see V. 51, p. 680. No recent statement o n s e t s is obtainable.
The company is to operate in two special fields—
one that of railroad
1891 (Chronicle , V. 52, p. 237) gave the Trusts assets as follows.
Plant *17 992 989; other investments, $459,235; networking capital, financiering; the other that of promoting electric light and P®^®Te^®y"
'^ 5 / 6 5 ^CL4; other net assets, $1,142,486; total,. $2 5 ,360,12|, against prises It is expected to have close affiliation m th certain electric corn7
$22,361,900 on Jan. 31, 1890. Net earnings m y e^ 1890-91 were names See V. 50, p. 875. Authorized capital, $50,000,000, of wmch
:$2,028,552. First dividend (50 cents per share) payable April, 1891, only $40,000,000 has been issued, this having been exchanged, share
for share, for stock of the Oregon & Trans-ConUnental. Price of stock
^ P r ic e of certificates—In 1889, 17@35; in 1890 14^®24^; in 1891, in 1890, 7®473g; in 1891, to Sept. 18, inclusive, 11%®19 4 . (V. 50, p.
“to Sept. 18, inclusive, 14%®211 (V. 50, p. 206; V. 52, p. 237, V. 53, 875; V. 51, p. 52, 207, 241, 680, 715, 788. 830.)
s.
N o r th H u d s o n C o u n ty (S tre e t)
^n^hor^e
^ N a t io n a l L in s e e d O il.—This company, incorporated in 1890
1^1^625 OOO^f
under the laws of Illinois, has acquired all the property of the Linseed street railway and elevated cable lines, Has outstanding jpo^o,uuu ox
wei- in TTnhniren N .T and vicinity.
Oil Trust, consisting of the real estate, machinery, patents, etc., or 02 6*per cents due January,'
like
•oil works situated in 42 cities of the United States, including reserved. Remainder of 1914, for which a can omy be used for extenconsohdated 5s
exfrn
Chicago, St. Louis, Minneapolis, etc. Its product is both linseed oil and oil sions or new property. Stock, $477,400. In
8
8*
j
^,av e_ ujed for stock food and fertilizer—and it is said to employ in the were $641,005; net over operating expenses, $211,184, dividends, 3
manufacture of these from 60 to 70 per cent of the country’s annual
crop /of ten to thirteen million bushels) of flaxseed. Fiscal year ends P N ,»rth w fi*t E u u ln m e n t.—Owns railroad equipment costing $3.June 30 Report for 1890-91 was in V. 53, p. 223, showing net loss 000 000 leased to the Northern Pacific Railroad. The rental is 7 per
from operations of $20,462. After writing this off and paying divid- cent per annum on the cost of the equipment and 10 per cent yearly to
ends N os.10,11,12 and 13, aggregating .1720,000, the company had the Milking1fund October 1, 1898, when the lease terminates, the
o; i
004 iii undivided earnings and its original capital intact. In year Emiipmen^Company will be ¿aid out of this sinking fund the original
epding June 30,1890, net earnings were $1,201,405, or equal to 6-67 eo^t of the eauipment, which will then become the property o f the
per emit on stock. Stock listed in New York in Sept., 1890. Dividend
S 8 te
New
i n l8 9 0 2 per cent; in 1891, Feb., l ; M a y , l ; Aug., ^ of 1 per fe„ *ee° 50,i p.273. K S to paid m 1890 6 34 per cent, m 1891, F e i v S '
P
cle V
Stock
reoruary
ie n t President, Alexander Euston, Chicago, HI. See full statement 2 ig;’ May, ’l ^ ; in August, l*a.
. - — .Jt
J
in C hronicle , V. 51, p. 348; V. 53, p. 223.
150
INVESTORS’
SUPPLEMENT.
IVOL.
Subscribers w i l l con fer a great f a r o r b y g iv in g im m ediate notice o f an y e r ro r discovered In these M
m is c e l l a n e o u s
Date Size, or
F *r explanation of column headings, &c., see notes on of
.
Par !v Amount L „ .
first page of tables.
Bonds Value. Outstanding
Oregon Improvement Co.—Stock, common.......
. P i S rred 8^°c^> 7 per cent, non-cumulative................
1st M., g.,s.f. 1 p.c. yrly., red. at 1 0 0 if not purch. at 1 0 6 . o
Consol, mortgage for $15,000,000..........
c
Pacific Mail Steamship—Stock
Pennsylvania Coal—Stock......
Peoria WcUer— 1st M., g., red. aft". Nov' 1 ,1899,ati05"c
Philadelphia Oothpany— (Natural Gas) Stock.......
1st mortgage,sinking fund $250,000 y early.not drawn, c*
Postal Telegraph Gable Go.—Stock
Poughkeepsie Bridge— 1st mort., gold___.\ \ "..."!..’ .'.c*
Debentures for funding coupons...............
Procter & Gamble.—Common stock........
’ **"'
Preferred stock (8 per cent cumulative) .. .
First M ., gold, subject to call at 1 1 0 after J u ly i , 1 9 0 0 "e*
Pullm an Palace Gar—Stock.................. . .
Bonds, 4th series............. ............. W *'.. .......................
Quicksilver M ining— Common stock." **........................1
Preferred 7 per cent stock, not cumulative..................
°A:, ° f M in n — 1st M g., $50,000 red". ylyatlOO
0
Southern < Atlantic Telegraph—Stock (guar. 5 per cent)
6
$100
1,000
1,000
1889
1,000
100
50
1888
50
1,000
1886
1891
1,000
1890
100
1,000
1872
1,000
1891
INTEREST OR DIVIDENDS.
Bonds— Princi
T
.
When Where Payable, and by pal, When Due.
Stocks—Last
Payable
Whom.
‘Dividend.
1
$7,000,000
„ fl>
31a
5.000.
000
6.459.000
I 8'
20,000,000
1
5.000.
000 4
1.039.000
7.500.000
I e480.000
6
10 , 000,000
5.000.
000
T *
<
*>
2.250.000
8
4.500.000
2
2.000. 000
25,000,000
I e820.000
8
5,708,700
40 c.
4,291,300
1*4
1,000,000
6 g.
948,875
2*2
100
1880
1889
"ioo
100
100
100
"2 5
l u i.
w
N. Y., Mills Building,
M. & S
do
do
J. & D N. Y., Farm. L&. Tr. Co
A. & O.
do
do
Q —F. New York, 1 Broadway.
M. & N N. Y., Atlantic Tr. Co.
Pittsburg,820 Penn Av.
J. & D, N. Y. City, Merc. Tr. Co.
N. Y. office, 115 B’way.
F. & A, Int. funded till Aug. ’92.
F. & A. N. Y. Office, 115 B’way.
Yearly. N.Y., A. M. Kidder & Co.
Q.—J.
do
do
J. & J. N. Y., MercantileNat.Bk
Q--F. N. Y., Farm. L. & Tr. Co.
A. & O.
do
do
Aug. 1, 1890
Sein. 2, 1890
Dec. 1, 1910
Oct. 1, 1939
Sept. 15, 1887
Aug. 1, 1891
Nov. 1, 1919
Oct. 15, 1890
Dec. 1, 1898
Aug. 1, 1936
1901
Aug. 15,1891
Oct. 15,1891
July 1, 1940
Aug. 15,1891
Aug. 15,1892
May, 1882
N. Y., Of., 20 Nassau St. June 2, 1891
J. & D.
New York.
Jun’92tol901
A. & O. N. Y., West. Union Tel. Oct., 1891
T e le g r a p h .—Owns 8,000 miles of wire and is
,
Wa t e r . —Owns water works at Peoria, 111., purchased from
Western Union for 99 years, with guaranteed dividends, rising ,
the city m 1889, on the agreement that they should be enlarged and
^UM-anteed &7681 to 6 m 1897 and afterward. The bond interest if improved. Seefull statement with description of property in fiHRON3
P 9 ffc S « “ Im p r o v e m e n t C o m p a n y .-T h is company controls the ie m ^ Iin g unissnAd « 9 Q ^ n n gage l * i? r+$2 ,0 0 0 ,000 , and of the bonds
l
flaome Coast Steamship Company (owmng $1,985,000 of its $2,000,000 water^onds^Stock^Ro’oO.OOO^parl^^OO.r6tlre *
of * *
-^n5 i operates five steamship lines running between San Franef®ee> Portland, Victoria, Sitka, Fort Bragg, San Diego, &c. Also owns l e S v l « TC + ^ a ? 3i*“ 2[P > i8 8 7 the Chartiers Company was
.a i,
.1
^ .5 ® ,
& PuJ et Sound Railroad (narrow *^.8ecl f ° r 39 years at a rental which is now 24’8 per cent o f Philadel
Urankton, Wash., and branches, 43 miles; and the phia Company s net earnings monthly. The Philadelphia Onm nanv
Pacific Coast Railway, Port Harford, Cal., to Los Aleros, 76 miles. It controls the natural gas production about Pittsburg ?and vicinity7
was also to own entirely the Seattle & Northern Railway, Ancortes to owmng or leasing 40,582 acres gas territory and 697 mflef of pipes1
Hamilton. Wash., 56 miles; the Port Townsend Southern RR. under
^ Q n ^ ng 1 ar°h
<
^ross earnings were $2,873,339 ; net,
S w i
-i6,0111 Port Townsend to Olympia, Wash., I l l miles, of I ! ’1
!
surplus ° 7 6r dividends (6 per cent), $698,163. On March
Aies, comPjeted; the Olympia & ChehaUs Valley Railway 31* -f.??1’ there was due for construction $528,Ono, payable *30 006
Temno,. Wash„ 15 miles. The total amount advanced to monthly. Geo. Westmghouse, Jr., President, Pittsburg Pa The Tan
these latter companies to October, 1890, was about $1,200,000, and in uary,1891, dividend was passed.-(V. 48, p. 6 8 7 ; Y 4 9 , p 6 1 7 ; V 5 0 ,
^ S f® r a tio n therefor the Oregon Improvement was to receive in p. 174.)
addition to then-stock land subsidies valued at $3,000,000 to $5,000P o s ta l T e le g ra p h C able.—This company Is successor to the
0 0 0 , part of which have been sold. (See V. u p. 570,747) Comnanv
uuu,
or
51, also has som
^ruitaL u 16^ + p i Company and Postal Telegraph & Cable Company6
®
Puget Sound1
bonds took new stock for 35 per cent of their face, and the old
Puget Sound. 6 3,688 a°re8 coal land between Cascade M o u n ta in ^ !
uv1 2fi ts amount m new. Foreclosure suit begun by Farm*
Default was made in Dec. 1890, on 1st mort. coupons, and Josenh Ara»°T
C o m p ly November, 1885, and sale took place Janufowed M r 8w P^?in«?d receiver. A ckan$e 1 1 the management fob n it
1
' A
^
lowed, Mr. W. H. Starbuck became President, the receiver was dis- tiuJita18*8« 1 St0?? 1 rea?,ed 18?0 to $10,000,000 for franchises, excharged, and the overdue coupons were paid. See V. 52. p 3 5 1
423^703f V 5 2 ! p
an2^9r) Pr6Sldent’ N ew York- < 48, p. 533; V.
Vat1 7 0 b ^u rn 89!1 !!4’0^ 0,000 C0n80ls werenotice that stockholders
Tn
«
ln April, 1891, the company gave offered to it was nreCo.—Owns a railroad bridge across the
pared, as per circular of November, 1890, to receive its pref stock in Hudson River at Poughkeepsie, with approaches, 3 ^ miles; completed
1888. Operated by Central New England & Western
1
°°.n®?lldated mortgage 5 per cent bonds on the basis of
lOo and accrued dividend for its preferred stock and 90 and accrued
S6e)’ ft i miSg+
tll!'0Ug^
from Campbell Hall, N. Y., to Hartfrrd Conn. The Dutchess
built in 1891, from
an^ references below!1
^8^6^ mor^ age
See V. 52, p. 321, 643* Poi^hkeepsie to Hopewell, County Railroad, to be the bridge with the
11 miles, will connect
T -*
system. V. 53, p. 96. In division of earnings with other
.mortgage bonds given in table as outstanding, $486 000
morteaaee
forI^ 1
?or^onn
j nterest; Under the consolidated roads the Bridge Company is allowed a constructive mileage of 40
mortgage *or $15,000,000 (trustee. Farmers Loan & Trust Co ) bonds miles. In 1891 holders of $3,500,000 bonds funded their interest matur
are reserved to. retire the preferred stock and the first mortgage bonds ing February arid August, 1891 and 1892, into 5 per cent debentures,
not in the sinking fund. See V. 49, p. 540.
mongage Donas redeemable in ton years, these debentures to take preference of the
Dividends on preferred stock (issued in 1888)—In 1888 3h>- in 18 8 0 d®at, & dept of $420,000, and to be secured by the coupons held in
m
P--1
-57- In March,189l ’ the company was authorized
^ ^
cenf yearly. On common—In ’ l883 71q • in bi^+hA
1 8 8 8 , 1 ; in 1889, 4 ^ ; in 1890, in February, May and August each l 5?
Legislature to issue $5,000,000 pref. stock. Capital stock
percent; in November passed the dividend. See V. 51 n 570 ’
8 1 f 5£ 00’00° (par value, $100) $4,250,000 of which is held b T Delaware
« 9F9 Qi?iionuary-1 t° ¿ o ^ S -fg A 891 (7 montbs), gross earnings were & New England, which company owns also the entire stock of the
al
En?lail<I & Western. Abstract of first mortgage (Mercan
1^47,375.2’ agamst $2,505,296 in 1890; net, $317,065, against £?ntm
tile Trust Company, trustee) in V. 45, p. 275. New York office, 115
£ear ends November 30. Report for 1888-89 was in V 50 n Broadway. John S. Wilson, President. (V. 50, p. 275- V 51 n 457
482 kÜÎÎÎ8
ÎÎ;e,lati)st ;report published. For 1889-90 only the totai 876; V. 52, p. 121,165, 204, 239, 351, 499, 609, 796, 974; V 5sfi> 96;
net earnings have been given out—these are appended below!
EARNINGS OF ALL DEPARTMENTS.
P r o c t e r & G a m M e.C o.—This company was formed in 1890 under
the laws of New Jersey to acquire and carry on the soap, candle, oils
( t P O S S A il T*Tll n era
Net earnings. and glycerine manufacturing business of Messrs. Procter^; Gamble of
Pacific Coast Steamship Company.—
g
Cincinnati. The mortgage covers all the real estate of the companv,
Company’s own vessels.................... * 1 5 6 1 4 1 9
$142,530 consisting of about 67 acres of land adjoining the city of CincinnatiOregon Improvement Co.’s vessels....... l ! 4 4 8 '9 4 7
268,199 together with the 29 factory buildings thereon. Of the common stock
Pacific Coast Railway........................
1 8 5 ’3 7 6
86,319 $1,000,000 is not to receive dividends until 12 per cent has been paid
382’ 258
Columbia & Puget Sound Railroad..........
172,244 t 1
1
of the common stock. Dividends on common stock—
Coal department..............................
fi*in i 99
82,068 In l ? 91’
peJ ?ent For year
Wharf, steam colliers, etc......
I 3 3 ,(i 8 9
34,205 profits were $601,031; deduct interest on ending June 30, 1891, net
General expenses....................... ” *’ ’
J-<so,oo2
bonds, $120,000; dividend
Loss 62,337 on preferred stock, $180,000; dividend on $1,250,000 common stock
(8 per eefit payable August 15, 1891), $100,000; balance carried to
$723,228 surplus fund, *201,031. For 1889-90 the net profits were $585,934 98:
Totai
: : : ; ; ; ; ; ; ; : .................... ^ w * 9
733,842 for 1888-89, $486,662 76; for 1887-88, $429,628 03.
Increase.
j.
P a la c e C ar Co.—The stock has been increased from
time to time to provide new capital, as wanted. In January, 1889tY* 5 0 , p . 1 3 9 , 481, 5 2 5 ; V . 5 1 , p. 5 70 , 7 1 5 7 4 7 788 * V
-n a i
1 2 1 ,1 6 5 , 2 3 8 ,3 2 1 , 3 5 1 , 4 2 8 ,6 4 3 .)
’ /4 :/’ 7 y s ' v - 5 2 > P- 8 1 , purchased control of the Union Palace Car Company.
1 Div^ehds 8in°e 1876—From 1877 to 1880 inclusive, 8 per cent; from
+ ^ i^ c l ? c
S t e a m s h ip .—The trans-Continental railroads give i881 to 1883 inclusive, 9^; from 1884 to August, 1891, both inclusive,
to this steamship company a guaranty o f $75,000 minimum per month at the rate of 8 per cent yearly.
fo r space taken m its steamers, in consideration o f the maintenanceof _ Fiscal year ends July 31. Report for 1889-90 was in Chronicle , VMarch, 1891, Congress passed a subsidy l^w, wMch it
p< OoO.
INCOME ACCOUNT.
„
Fiscal year ends April 30 ; report for 1890-91 was in Y 52 n 83n
1887-88.
1 8 8 8 -8 9 .
«
$
Earnings (leased lines included)........ 6,259,371 6 ,8 2 5 ,9 5 5
Patent royalties, manuf. profits, &c... 1,250,383 1 ,4 7 7 ,3 4 1
Total revenue................ ............. 7 509 7 5 4 8,303,296
Disbursements—
Operating expenses........................... 2,506,584 3,070,779
Paid other sleeping-car associations... l ’,045,398
920,906
Coupon interest on bonds.................
132 450
79,527
Dividends on capital stock........... ] ”" 1 510 890 1,795,638
Repairs of cars in excess of mileage... ’l98!870
84,915
Contingency account.........................
100,000
100,000
Revenue—
1 8 8 9 -9 0 .
$
7 ,4 7 3 ,136<
1 ,3 8 7 ,8 2 5
1887-88.
1888-89. 1889-90.
18 9 0 9 1 .
$
807,012
777,435 683,488
Atlantic lines.............
697,291
8,860,961
Panama lines.................... 1,778,275 2,006,894 2,186 352 2,262,638
Trans-Pacific line.........1,334,384 1,201,580 942 143 1,107,601
3,274,605Subsidies.
101,633
100,267 103 000
103,000
1 ,0 2 2 ,6 2 5
Interest and dividends......
16,712
32,138
17 094
33,463
Miscellaneous....................
40,532
42,743 133’591
94,578
2,000,000
100,00G
„ Total.......................... ..4,078,547 4,161,057 4,065,668 4,298,571
100,000
Expenses........................... 3,638-510 3,666,162 3,555,118 3,495,650
Total disbursements.......
5 494 192 6,051,765 6,462,830Net earnings................ 440,428
494,895
510,550802,921
Net result.................................... 2,015,562
2,251,531 2,398,131
No balance sheet is given in the annual report. George J G ou ld —(V. 51, p. 494, 535, 570, 719.) •
President. (V. 49, p. 207, 341; V. 50, p. 590, 768, 771;
51, p 1 7 2 ’
207, 646, 721; V. 52, p. 391, 830, 832.)
’ P'
’ ^ u f r k 8 ilv F M in in g .—Owns quicksilver mines at NewAlmadem
Cal. The preferred stock is entitled
cent per annum nonP e n n s y lv a n ia C o a l.—Dividends since 1880—In 1881,15 per cent! cumulative, and any surplus goes to theto 7 per and preferred equally..
common
from 1882 to 1890 inclusive, at rate of 16 per cent yearly; in 1891 Feb
Fiscal year encte April 30. For year 1889-90 net income applicable t o
ruary, 4 per cent; May, 4; August, 4.
’
dividends was $195,928, against $131,624 in 1888-89.
MISCELLANEOUS STOCKS AND BONDS.
S ä p t b m b k b , 1891.]
151
S u bscribers w i l l con fer a great fa v o r b y g iv in g Im m ed iate notice o f an y e rro r d iscovered In tbese T a b le s .
INTEREST OR DIVIDENDS.
MISCELLANEOUS.
pal, When Due.
Date Size, or
Amount Rate per When jWhere Payable, and by Stocks—Last
Par
f o r explanation of column headings, <& see notes on of
c.,
Outstanding Cent. Payable
Dividend.
Whom
Bonds Value.
first page of tables.
$4,000,000
$100
Southern Oolton Oil—Stock......
100
Standard Oil Trust—Certificates
1880 500 &C.
Sterling Iron <t K y .— Mort. bonds, inc.,7 p. c., series “ B.” .c
1,000
Plain inoome bonds, 6 per cent................................... c 1876
1,000
Sterling Mountain R ’y.—1st mort. income, 7 p. c. guar. 1881
100
len n . Coal I.& R R . C o — Stock. ($1,000,000 is pf. 8% cum.)
Tracy City 1st and 2d mortgages...................... -........ 1879
1881
Consolidated mortgage........... — -.........................
South Pittsburg Purchase, 1st mortgage .................... 1882
Alice Furnace Co., Alabama, 1st mortgage............... o 1882
Pratt Coal & Iron Co., Ala., 1st M., s. f., not drawn....c 1883
.,
Birmingham. Ala., Div., con.M., g., s. f. 1%, not d’rn..c’ 1887
Is, gold, s.f. 1 ^ % yearly, notdr’n ...c 1887
Terminal Railroad Association— First mort., gold........ o' 1889
St. Louis Bridge & Tun. HR. 1st pref. stock, guaranteed
2d preferred stock, guaranteed................................
1st mortgage.............................................. ••........0 1879
Tunnel Railroad of St. Louis, stock, guaranteed..........
Texas Pac. L a n d Trust—' ‘Certificates of propriety int’s t’ .
Third Avenue Ry. (N . T .)— Stock ($5,000,000 authorized).
1st mortgage, gold..... ............................ ...................® 1887
418.000
495,575
475,674
10,000,000
170,200
200 &c.
36,000
1,000
123.000
1,000
300.000
1,000
705.000
1,000
3.460.000
1,000
1.400.000
1,000
7.000.
1,000
2.490.000
100
3.000.
100
5.000.
1,000
1.250.000
Too 8.761,731
2.000.
100
5,000,000
1,000
Dividends—On oommon, in 1881, 2*4 per cent; in 1882, % ¡ nothing
since On preferred—In 1881, 9*4; in 1882,6; in 1883, nil; in 1884,
STin 1885^n il; in 1886, 2 * ; in 1887,3; in 1888,,6% ; in.1889. 3; in
1890, February, 3, 1*3; May 1 ,lhs; August 1, l 1 ; in 1891, Jan. 2,
*
l i* ; June 2 , 1 1 4 . (V. 47, p. 4 9 ; V. 49, p. 50.)
R a i lw a y E q u ip m en t Com pany o f M in n e so ta.—Owns equip
ment costing over $1,500,000, which is leased to the Chicago St. Paul &
Kansas City Railway Company at a rental which is to be more than
sufficient to pay the interest on the bonds, to retire $50,000 bonds
yearly at par and to redeem the balance of the issue at maturity in
1901. Lessee is to keep the property in repair. Stock paid in $996,500.
Bonds offered by Maitland, Phelps & Co. in 1891. See advertisement
in Ch r o n icle of July 18,1891.
» l i v e r B u l l i o n C e r t i f i c a t e s . — The silver bullion certificates
dealt in on the N. Y. Stock Exchange represent each 1,000 ounces of
fine silver bullion deposited with the Mercantile Safe Deposit Co. of New
York City. They are subject to a storage charge of one cent per day per
1,000 ounces. On May 25,1891, the Safe Deposit Company reported
in its possession in trust for outstanding certificates 5,219.591 ounces
o f silver bullion.
S ou thern Cotton O il.—This oompanyis organized under the laws
of the State of New Jersey, and owns eight crushing mills in as many
oities of the South with an aggregate capacity of 1,600 tons of seed
per d ay; also owns 6 refineries, etc. In 1889 paid 12 per cent. See
statement to New York Stock Exchange in full In Ch r o n ic l e , V. 49, p.
404. President Henrv C. Butcher.—(V. 49. p. 403, 404.)
Sou thern Sc A tlan tic.—Lines leased to Western Union and stook
guaranteed by the rental, 5 per cent per annum.
S tan d ard O il T ru s t.—This company oontrols petroleum oil refin
eries in all the principal Northern cities of the United States, and pro
duces about 65 per oent of the country’s total output of refined oil. Also
oontrols oil wells in Pennsylvania, Ohio and West Virginia, and has
pipe lines for transmitting its oil to tidewater. The trust certificates
are issued against a deposit in trust of the stocks in the various refining,
producing and transportation companies controlled by the Trust. Div
idends of 12 per cent per annum are paid.
Sterlin g I r o n Sc R a ilw a y .—The property of this company, in
Orange County, N. Y. (and a few acres in. Rockland), consists of 25,000
aores of land, with furnaces, &c., having a capacity of 15,000 tons of
pig iron per year and 7*2 miles of railroads, houses, &o. The company
endorses the $471,674 bonds of the Sterling Mountain Railway. Stock
le $2,300,000—par, $50, New York office, 45 William Street, New York.
S u gar Refineries—Su gar T ru s t.—See A m e r ic an Su g a r R e f in
in g
97 , 000,000
Co m p a n y .
OPERATIONS AND EARNINGS.
Tons.
Ooal, output..... 1,168,364Ooke, output..... 329,987
P ig iron, output. 109,160
Iron ore, output. 107,750
$
Total net profits. 626,975
Interest on bonds_ 263,748
Miscell. interest, &c..
14,531
Dividends.........
98,300
1888-89.
Tons.
1,375,577
456,605
200,750
126,271
$
666,092
322,291
14,406
40,000
1889-90,
1890-91
1,619,020
509,906
264,648
124.574
$
7811300
351,484
22,243
80,000
1,583,170
498,014
260,378
109.508
Tons.
Tons.
663Î890
355,956
18,033
80,000
453,989
453,727
376,697
Total disbursem’ts. 376,579
209,901
227,573
289,395
Balance, surplus...... 250,396
—(V. 48, p. 463, 526 ; V. 49, p. 403, 690 ; V. 50, p. 72, 276, 353, 620
628, 905 ; V. 51, p! 777 ; V. 52, p. 41, 571, 609, 643, 679, 718.).
T e rm in a l R R . A sso ciatio n o f St. L o u is .—This company ao
quired October 10,1889, the lease of the St. Louis Bridge and of the
'Tunnel RR. of St. Louis, and purchased the properties of the Unit A
Ï ’
4 on pfd.
6
6
6
7
7
6 g.
6 g.
ag.
000 41
3
000 l 1
«
000
V-
“
000 e*
5 e-
Philadelphia, Office.
.—M. N. Y., 26 Broadway.
geb. 1 N. Y., Office, 45 Wm. St
Feb. 1
N. Y „ Office, 45 Wm. St.
& J N. Y., Kountze Bros.
New York City.
& O
M. & N. N. Y., Mechanics’ Bank,
do
do
F. & A.
do
do
A. & O.
do
do
M. & N.
J. & J. W. Y. Hanover N a t B’k
A. & O. N.Y.,4th National B ank
A. & O. N. Y., Central Trust Co.
J. & J. N. Y., Drexel, M. & Co.
do
do
J. & J.
A. & O. New York and London.
J. & J. N. Y., Drexel, M. & Co.
Aug., 1889
Sei«., 1891
Apr. 1, 1894
Oot. 1, 1896
July 7, 1895
July 15,1891
Apr. 15,1894
Nov. 1, 1901
Feb. 1, 1903
1892-1902
Nov. 1, 1903
Jan. 1, 1917
Jan. 1, 1917
Oct. 1, 1939
July, 1891
July, 1891
Apr. 1, 1928
July 1, 1891
New York.
M. & N.
J. & J. N.Y.,Farmers’L.&Tr.Co
May, 1891
July, 1937
Depot Company of St. Louis, and of the Union Railway & Transit Com
panies and Terminal Railroads of 8t. Louis and East St. Louis. I t is
composed of the following proprietary lines, which are the sole owners:
The Cleveland Cincinnati Chicago & St. Louis, Louisville & Nashville,
St. Louis Iron Mountain & Southern, Ohio & Mississippi, Missouri Pa
cific and Wabash. Capital stook, $1,441,200.
The leases of the Bridge and the Tunnel are for the terms of their cor
porate existence, and were made July 1,1881, to the Missouri Paoiflo
and the Wabash, bv whioh companies they were assigned to the present
association. Under the lease the lessee guarantees 6 per oent on the
Bridge Company’s $2,490,000 first preferred stock, 3 per cent on its
$3 000,000 second preferred stock and 6 per oent on the Tunnel Com
pany’s $1 ,2 5 0 ,0 0 0 oommon stook. The Bridge Company’s $2,500,000
common stock was held by the Mercantile Trust Co., with power to vote
Tennessee C oal I r o n Sc R a ilr o a d C om pany.—This com
pany owns blast furnaces, ooal mines, iron mines, foundries.
&o., and ooal and iron lands in Tennessee and Alabama. The total area
of mineral lands and rights owned by the company is 208,323 acres, of
whioh 81,998 acres are in Alabama and 126,425 acres are in Tennessee.
Of the latter 58,135-5 lie in Cocke and Green counties, in the eastern
portion of the State on the borders of North Carolina. See a full state
ment of the property in V. 44, p. 245. For changes in the directory
in January, 1891, see V. 52, p. 41.
An offer by an English syndicate to buy the company’s Tennessee
property was rejected in May, 1891. See V. 52, p. 643, 718.
The two main bond issues, known as the Birmingham Division and
the Tennessee Division bonds, are each a lien on their own prop
erty, as described in the mortgage, and a second lien on the property of
the other division. Of the Tennessee Division bonds given above as
outstanding, $78,000 are held alive in the sinking fund. The Traoy City
1st and 2d mortgage 6s and the consolidated 6s due in 1901 are all ex
changeable at par for bonds of the Nashville Chattanooga & St. Louis
Railway Company held by the Central Trust Company.
The total funded debt January 31, 1891, was $6,136,200, and sinking
funds held at same date amounted to $948,355, leaving net debt $5,187,845.
Dividends—On common in 1887,1 per cent, and none since. On pre
ferred in 1889, 8 per cent; in 1890, January 1, 2%; the remaining Us
per cent being taken by State as tax under law now repealed.—(See V.
50, p. 72); in August, 1890, 4; in 1891, January, 4; July, 4.
From January 1, 1891, to Aug. 31, 1891 (8 months), net earnings,
partly estimated, were $421,600, against $581,700 in 1890 ; interest,
rentals, etc., $288,000, against $287,000 ; surplus, $133,600, against
$294,700.
.
,
Fiscal year ends January 31. See annual report* for 1890-91 in
C h r o n ic l e , V. 52, p. 679.
1887-88.
4
3
1
0 The mortgage of 1889 (trustee, Central Trust Company) is for $7,000,1
000 bonds, of whioh $5,000,000 were paid for the properties and $2,000,000 reserved for enlargements, etc. In 1889 gross earnings were
$1,741,914; net, $912,938. In 1890 gross earnings were $1,929,322;
net, $1,123,306; total net, including rentals reoeived, $1,236,866; rent
als paid, $680,202; interest, $236,226; improvements, $47,109; sur
plus for year, $273,328. (V. 50, p. 276, 351; V. 52, p. 080.)
T e x a s Pacific L a n d T ru s t.—The certificates of this Trust repre
sent the ownership of the lands formerly belonging to the Texas & Pa
oiflo Railway. The trustees of the land trust are Messrs. Charles J.
Canda, Simeon J. Drake and William Strauss, of New York, and the
lands received consisted of 3,450,642 acres and also $899,731 secured
by purchasers’ contracts. On January 1,1891, there remained to the
trust 3,341,162 acres of land, $447,067 deferred payments and $222,158 bills receivable. In 1890 there were sold 63,852 aores and 45 town
lots for $184,879. Rentals received from grazing lands, $17,019. See
description of lands in V. 47, p. 344.
T h ir d A v e n u e R a i lw a y , N . Y .—This oompany owns a street
horse railway from Park Row, New York City, via Third Avenue, to the
Harlem River, 8 ^ miles; and a oable road from Manhattan Street,
North River, to 125th Street, Harlem River, with branch 5% miles;
total, 14 miles double traok. A oable is to be laid on the Third Avenue
line, and an increase of stook from $2,000,000 to $5,000,000 has been
authorized to meet the expense. The work is under way, and is ex
pected to be completed by May 1, 1892. Paid dividends of 11 per
oent in 1889 and of 12 per cent in 1890. Dividends are payable May
and November. In year ending June 30,1891, gross earnings were
$1,647,781; surplus over interest, &o., $276,412, against $264,575 in
1889-90; dividends (12 per oent), $240,000; surplus, $36,412. (Y. 51,
571, 681; Y. 52, p. 609; V. 53, p. 59.)
T U o m s o n -H o u s to n E le c t r ic .—This is a Connecticut corpora,
tion engaged at Lynn, Mass., in the manufacture of eleotrio lamps
dynamos, outfits for electric railways, etc. On January 1,1891, it had
about 150 lines of electric railways, 87,000 arc lights and over 600,000
incandescent lights in use or under contract. Preferred stook is 7 per
cent, cumulative. First dividend (4 per oent) was paid on oommon
stock in February, 1891; May, 4 per oent was paid; Aug., 4. In
September, 1890, 60,000 shares oommon stook (par $25) were sold to
stockholders at $50 per share. Preferred stock was increased in 1890
from $1,000,000 to $4,000,000.
Series “ A,” “ B,” “ C ” and “ D ” trust certificates sold on the market
were issued to represent interests in certain stocks and bonds of looal
companies, and are entitled to the proceeds of the sale of the same
when made. They are not a liability of the oompany, but represent
distributions to its stockholders who have either been given the privi
lege of buying them at less than their value, or, as in the case of series
D.” have received them as a dividend outright.
Floating debt Feb. 1,1891, $2,678,446; stock, $10,000,000; surplus,
$6,022,533; guarantee account, etc., $204,124; assets, $18,905,106.
Fiscal year ends February 1. Annual report for 1890-91, with bal
ance sheet, was published at length in V. 52, p. 608. The “ earnings”
for 1890-91 as given below embrace the transactions of the Boston
offloe only. It is said the transactions of the branch offices would in
crease these operations about 25 per cent. The profits as here given
are those shown by the company’s balance sheet before deducting divi
dends. The “ expenses, including interest, taxes, etc.,” áre merely the
difference resulting from subtracting these profits from the earnings of
the Boston office.
1890-91.
1889-90.
$
10,617,661
Earnings.'................................................... 8,222,789
7,525,778
Expenses, including interest, taxes, etc...... 6,913,614
3,091,883
Profits, applicable to dividends..............1,309,175
—(V. 51, p. 346, 459, 771, 877; V. 52, p. 322, 607.)
T h u r b e r -W h y la n d .—Organized 1890 under the laws of the State
of New Jersey to take over the entire property and to carry on the
business of the firm of Thurber.Whyland & Co., manufacturing, import
ing and wholesale grocers and dealers in general merchandise. See Y .
52, p. 121. Mr. Francis B. Thurber will act as President for five years
and longer, if desired, and will receive no salary for any year till 8 per
cent has been paid for that year on the preferred stock. No bond or
mortgage can be created without the consent of 90 per oent of the pre
ferred stockholders. Complete statements of earnings are to be pub
lished semi-annually. For six months ending July 31,1891, net profits
were $101,679. Average net profits of the old firm for tenyears ending
January 31,1891, were $220,084; net profit for year ending January
31,1891, about $241,000. Dividends: On preferred in August, 1891,
4 per cent. (V. 52, p. 121.)
T r o w D irecto ry P r in t in g Sc B o o k b in d in g .—This oompany
is organized under the laws of the State of New Jersey to carry on the
business of the Trow Directory Company, which was established in
1 7 8 6 , and of Trow’s Printing & Bookbinding Company, established in
15 3
INVESTORS’ SUPPLEMENT.
LVo l .
l iu
.
Subscribers w i l l confer a great fa v o r b y g iv in g im m ediate notice o f an y e rro r discovered in these T ables.
MISCELLANEOUS.
Date Size, or
For explanation of column headings, (fee., see notes on of
Par
first page of tables.
Bonds Value.
Thomson-Houston Electric-- Com. st’k ($10,000,000 auth.).
Preferred stock (7 per cent, cumulative).
Collat. trust bds, gold, red. at 105 after July, 1899.’ . c*
’
Thurber- Whylandr—Common stock for $1,500,000
Preferred, 8 per cent cumulative.................
Trow Directory Printing d Bookbinding— Stock common.
k
Preferred, 8 per cent cumulative...............
Union Ferry— 1st M., gold, red. at 110 after Nov. i, 1895.
United States Book—Common stock...............................
Preferred, 8 per cent cumulative.............. .
Debentures for $1,000,000............... ...... ............
United States Express—Stock................. ..... . . . . . . .. . . . .. . .
Wells, Fargo d Co. Express—Stock................. .......... ......
k
Western Union Telegraph—Stock.............
Beal est. bds., g., (lien on W.U.Bldg., N.Y.CJs.f. (not'dr.) '.
Debentures (if drawn, surrender is optional)..........c &r
Debentures, sinking fund 1 per cent, drawn at 100_ c
_
Collateral Trust bonds..........................................
c*
Wheeling Bridge d Ter. By.— 1st M. for $2,000,000 g’d. .c*
k
Whitebrcast Fuel—Stock, ($2,000,000 authorized.)......
Gen. M., (now lst)g., s. f., $30,000, drawn at 110..c*<fcr.
Iowa & 1 1 Coal 1st M., gold, guar., s. f., red. at 110. .c*
1.
1889
1890
1890
$25
25
1,000
100
100
100
100
lOO&c
100
100
100
100
100
100
INTEREST OR DIVIDENDS.
Ronds—
Princi
pal,When Due.
Amount .R ate per When
Where payable and by Stocks—Last
Cent. Payable
Whom.
Dividend.
4
4.000.
000 31
*
500.000
5 g.
1.000.000
1.500.000
4
750.000
750.000
2.200.000
5 g.
1.250.000
$6,000,000
Boston.
J. & J.
do
J. & J. N. Y., Holland Trust Co.
Feb.
F. & A. N.Y.0ffice,116 ReadeSt.
Aug. 15, 1891
Quar.
M. & N.
New.
Nov. 1, 1929
New York.
New York City.
Aug. 15,1891
July 1, 1891
July 1, 1919
2 , 000,000
600.000
10,000,000
6.250.000
86,199,852
1872
1,0 0 0
1.285.000
1875
1,0 0 0
4.920.000
1875 ÄlOO&o
850,986
1888
1,000
8.128.000
1889
1,000
1,000,000
100
1,300,000
1888
1,000
510.000
1890
1,000
600.000
'é'
2
4
1^
7 g.
7
6 g.
5
6 g.
3Lì
6 g.
6 g.
J. & " j. N. Y., Chase Nat. Bank.
M. & N. N. Y., Office, 49 B’wav.
J. & J. N. Y., Office, 63 B’wav.
Q.—J. N. k., Office,495B’wav.
M. & N. N. Y., Union Trust C
t>.
M. & N. N. Y., Treasurer’s Office.
M. & S. London, Morton,R.& Co.
J. & J. N. Y., Office, 195 B’wav.
J. & D. Bank of N. Y. & Boston.
See rem. N. Y., Office, 18 B’wav.
J. & D. N. Y., Atlantic Trust Cb.
J. & J.
do
do
1910
May 16, 1891
July 15, 1891
Oct. 15,1891
May l , 1902
May 1, 1900
Mch. 1, 1909
Jan. 1, 1938
Deo. 1, 1939
Oct. 1, 1891
June 1, 1908
June 1, 1929'
1826—two companies heretofore conducted separately. The parties in
1888-89.
1889-90.
1890-91.
interest in the old companies and their associates retain the ownership
$
of $500,000 of the common stock. There will be no mortgage on any Revenues for the year.................. 20,78*3,194 22,387,029
of the property unless hereafter ordered by a vote of 90 per cent of the Oper g expenses, rentals, taxes, &o.14,565,153 15,074,304
stockholders, and the new company begins business without a debt of
any kind The registrar of th e stock is the Central Trust Company,
. 6,218,041
7,312,725
6,605,581
The average net profits of the two concerns for the five years ending
Disbursements—
December 31,1890, after providing for cost of materials, labor, cost of
. 4,309,520 4,956,008 4,309,600renewals and repairs, etc., as determined by public accountants, was
. 755,686
875,135
891,218
$132,282. Profits for 1890 were $143.736. See advertisemet in Ch r o n For sinking funds.
39,982
40,000
40,000
ic l e of July 18,1891. Robert W. Smith, President, New York City.
U n io n F e r r y . —This company operates five ferry lines between
. 5,105,188 5,871,143
5,240,824
New York and Brooklyn. Capital stock is $3,000,000. The mortgage
1,112,853 1.441.582 1.364.757
covers all the Company’s property, including 19 ferry-boats, real Surplus July 1 (beginning
7,498,489 8,611,402 10,052,984
estate, etc. President, George W. Quintard.
1,112,553 1.441.582
1.364.757
U n ited States B o o k Co.—Organized in 1890 under the laws of
8,611,402 10,052,984 11,417,741.
New Jersey to manufacture and selljbooks, magazines, newspapers, &o.
It acquired the entire business, stereotype and electrotype plates,
* v
OI me company.
books, stock in trade, good will, copyrights, &c., of the John W. Lovell at different periods:
Company and the National Publishing Company of New York; also,
Miles of Miles of
the stereotype and electrotype plates, copyrights and good will of the , ,X®ar- Roles&C’bl’s. Wire. No. of
Offices. Messages. Receipts
Profits
most popular standard works,12mos., and works of fiction published in 1866-67.. 46,270
85,29i 2,565
5,879,282$6 568 925 $2 624 919
this country by 13 New York firms, 3 Boston firms, 1 Albany firm, 2 1869-70.. 54,109 112 191 3 972
9,157,646 7,138 737 2 227 965
Chicago firms and 3 Philadelphia firms. Among the foregoing are in 1879-80.. 85,645 233,534 9|077 29,215 509 12 782 894 5 833 937
cluded Dodd, Mead & Co., G. W. Dillingham, George Munroe, Estes &
3
55,878,762 22’387J)29 7^312|725
Lauriat and J. B. Lippincott. In 1889 the sales by the publishing 18/^'?2 ' 18K49i o 678,99719,382 205, 245,
49, p. 53,
V.
n
houses included were 5,810,000 cheap paper books, 375,000 better 348,•492, 830; 469, 789;164, 50, p.902; V. 53, 390, 392, 835; V 51 ’ P*
V. 52, p.
428?
p. 368
grade paper books, 4,075,000 cloth, 12mos., 1,375,000 standard sets in
cloth, 390,000 poets. The company began business August 1, 1890,
W h e e lin g B rid g e & T e rm in a l.—The company is constructing
and for the five months ending December 31,1890, the net earnings »railw a y bridge between Wheeling, West Va., and Martin’s Ferry. Ohio
were $151,056. It is expected, now that excessive competition has President, R. H. Cochran.
*
been removed,that the net profits for the year will be largely increased.
Preferred stock has preference in respect of assets in case of liquidation, a c ^ ? i t ®brea,8i Fs
UeJ*™°w? 8 ?’797 acres and leases in perpetuity
as well as in respect of earnings. Stock listed in June, 1891. Horace 980 acres coal land at Cleveland, in Lucas County, and at Marysville •
and Swan. Marion County, Iowa. Also owns 10,500 acres coal land
K. Thurber, President. (Y. 52, p. 974.)
+?JL
reau
and leases for 17 years the property
U n ited States E x p re s s .—In September, 1887, the stock was in of the Iowa and Hlinois Coal Company (19,804 acres coal and 360 acre»
creased $3,000,000, raising it to $10,000,000, and the Baltimore & Ohio
Express was purchased. Dividends since 1880—From 1881 to 1887 surface) and guarantees its bonds. Organized as Whitebreast Coal
§nCi io^anu5ry i 6’ 1876 > reorganized as Whitebreast Coal Co.
0
inclusive, 4 per cent; in 1888,5; in 1889, 5. In May, 1890,2; in Nov., 2- a m-i1
April 30,1886, and under present
July 2,1887. 8ee application toin 1891, May, 2. Dividends will hereafter be paid semi-annually in New York Stock Exchange in full, title o n ic l e , V. 45, p. 676. The Iowa
Ch r
May and November.
Illinois Coal Co. s bonds are guaranteed as to both principal and
W e lls , F a r g o E xp ress.—No annual reports or information. In interest. They are redeemable $20,000 yearly at 110, and on June 1,
March, 1888, this company bought out the Erie Express of the New 1907, the whole issue may be paid at same rate. Report for 1890-91
York Lake Erie & Western Railroad Company. Dividends of 8 per cent was in Y. 53, p. 367.
.
yearly have been paid for many years. (V. 46, p. 371; Y. 48, p 172.)
Dividends which previous to 1891 had been paid quarterly—February
W estern U n io n T ele g ra p h .—Chartered under the laws of New 15, etc.—will hereafter be paid semi-annually, April 1 and October 1.
York State on April 4,1856, with capital stock of $500,000. On July _ J.n J®ar endmg June 30, 1891, gross earnings were $1,064,639
1,1869, its capital amounted to $41,063,100, having been increased for net, $165,721; interest, $32,400;. sinking fund, &c., $26,187; divithe acquisition of new properties and by the payment of stock divi dends, $91,000; surplus for year, $16,134. In 1889-90 gross, $851,-;.
dends. In June, 1879, a scrip dividend of 15 per cent was paid to rep 882, net, $183,284 (against $164,950 in 1888-89); surplus over inter
resent surplus to credit of income account. On Jan. 19,1881, was dated est, sinking fund ($50,000) and dividends (7 per cent), $19,910. Presi
the grand consolidation, in which the Western Union raised its stock to dent, J. C. Osgood, 18 Broadway, New York. (V. 53, p. 367.
$80,000,000, giving par, or $15,000,000, for the stock and bonds of the
American Union, 60 per cent for old Atlantic & Pacific stock in new
Western Union, and a stock distribution of 48*2 per cent to Western
Union shareholders.
In April, 1886, the quarterly dividend was paid in scrip, and no more
dividends were paid till July, 1887, when cash dividends were resumed
at 1 per cent, afterwards increased to l ^ per cent quarterly.
In January, 1890, an extra dividend of % of one per cent was paid
The collateral trust bonds of 1888 (trustee of deed, Mercantile Trust N E W Y O R K A N D B R O O K L Y N T R U S T CO’ S..
Company) are issued to retire an equal amount of stock and bonds of
various telegraph and cable companies for the interest or dividends on
(See Ch ro n icles of July 18 and 25, 1891.)
which the western Union Company is liable, these when so retired to
be held as security for the new bonds.
Surplus &
Ca p i t a l .
D iv id e n d s .
Price of stock—In 1881, 77 (ex-certificates) ®1377 in 1882 76**
«;
Undiv’ed
Co m pa n ie s .
@9338; in 1883, 71%®881 in 1884, 49@781 ; in 1885, 53%®8138; in
4;
8
Profits
Par Amount. July 1,’91 Period ’89, ’90. Last Paid. %
1886, 601
8®801 in 1887, 671
2;
a@817 in 1888, 70%@86%; in 1889
8;
815
s@88%; in 1890,71%®87; in 1891, to Sept. 18, inclusive, 76®85]4,
L
President Green, in his annual report for 1887-88, made explanations
as to the nominal surplus of the company, which on Julv 1 1891 was Atlantic........ 100 500.000 922.468 Q.—J.
12 Oct., ’91. 3
about $11,417,741. (See Ch r o n ic l e , V. 47. p, 440.)
’
Brooklyn...... 100 1,000,000 1,321,404 Q.-J.
16 Oct., ’91. 5
The estimated net earnings for the quarter ending June 30 1891 Central......... 100 1,000,000 4,717,989 Bi-mon
35 Sept.,’91. 5
were $1,500,000; the actual were $1,549,149, or $49,149 more than the Continental.. 100 500.000 270,870
—
New.
estimate. The estimated net earnings for the quarter ending Sept 30 Farm. L. & Tr. 25 1,000,000 3,817,851 QV-F.
25 Aug., ’91. 5
1891, compared with the actual results in the same quarter or 1890 are .Franklin....... 100 1,000,000 534,042 *Q.-J.
6 Oct., ’91. 2
as below given:
Hamil’n L. &Tr 100 500.000 252,442
----Aug.,’91, 4
----- Quarter ending Sept. 30.— . Holland........ 100 500.000 640.468 Q .-F.
10 Aug.,’91. 2V*
Actual, 1890. Estimated, 1891. Kings County. 100 500.000 343,090
3 Nov., ’91, 3
Knickerbock’r 100 750.000 298,023
--- July, ’91, 3
Net revenue........................................ 2,000,731
2,000,000 Longl. L.&Tr. 100 500.000 225,605 Q —J.
9 ¡July, ’91. 2
Deduct—
,
Manhattan ... 30 1,000,000 170.454
Interest on bonds........... f ,
...........
222,483
222,388 Mercantile___ 100 2,000,000 1,494,088 J.’ & J.
July, *91. 5
20,000
Sinking fund..................I ...................
20,000 Metropolitan. 100 1,000,000 740,567 Semi-a.
July, ’91. 3
Nassau
100 500.000 115,689
Aug.,’91. 3
Net revenue............ ............— . 1,758,248
1,757,612 N .Y.Lf.I.&Tr. 100 1,000,000 2,000,452 J.'&D. 25
June,’91.15
Less dividend............... ........( l t i p. e.) 1,077,399 (1*4 p.c.) 1,077,405 N.Y.Sec.&Tr. 100 1,000,000 722.455
New.
------- .---- People’s........... 100 1,000,000 617,986
May, ’91. 4
Surplus for quarter.............................
680,849
680,207 I RT Est. L.&T. 100 500.000 258,758
New.
Add nominal surplus July 1............... 10,052,983
100 1,000,000 622,112
11,417,741 State
New.
—---- _ _ _ Title Gu. & Tr. 100 2,000,000 500,259 J. & J.
July, ’91. 2V
Nominal surplus Sept. 30.............. 10,733,832
12,099,948 ! U nion...... . 100 1,000,000 3,861,308 Q.—J.
Oct., ’91. 5
Fiscal year ends June 30; report for 1889-90 was in V. 51, p. 4 9 2 United states, 10012,000,000 7,940,530 J. & J.
July, ’91.121*
giving balance sheet, &e. In the following the figures for 1890-91 are Wa8mn^t° n . . looj 500,000] 323,426
New.
fixe actual results for the year.
| * Changed to quarterly in October, 1891.
September, 1891.
BANK, GAS, INSURANCE A N D HORSE RAILROAD STOCKS.
153
COMPANIES.
NEW YO RK CITY BANKS.
Ca p it a l .
'Com pa nies .
Imount.
Par 1
D ivid en ds .
at
d
Period, jl 88^1 890.
Ca p it a l .
Latest.
Companies .
Net
Surplus,
Jan. 1,
1891.*
D iv id e n d s .
1888. 1889. 1890. Last Paid.
Par. Amount.
$
9
8 Ju ly ’91. 4
8
J. & J.
America*... lo o a.000,000 2,0
lay, ’91. 3*2
7 »
7
M. < N.
fc
Am.Exch.. 100 5.000,000 2,0
100 250,000 2
......J u lv ’91. 3
71,800
$
100 300,000
...... J
’91.
12 Ju ly’91. 6
48,396
J. «& J. 12
Alliance.. . J 1,000 200,000
100 250,000 4
Bowery*
io
;
10
16 : u ly’91. 8
16
50 400.000 406,533 10
American.. 1
25 1,000,000 1,5
6
J
9
8 J u ly’91. 4
37,466 10
8
J. & J,
300.000
25
Bowery......
25 300,000 2
’91.
li
;
10
7,500
25 200.000 215,150 12
100 100,000
Canal 8t.*
7 a u ly’91. 3*2 Broadway. 1
6*2 6*2 J
7
J. < J.
fe
20 300.000 295,557 6*2
Citizens’ ...
100 2,000,000
■Central..
....... j
6
10 .ruly ’91. 5
66,272
6
J. < J.
fc
Com’nw’lthj 100 500.000
100 500,000 1,C
Chase.__
14
J
12 .ruly ’91. 4
Q.—J. 12
Continental. 100 1, 000,000 1,602,620 12-45 14
25 450,000 £
Chatham
10
50 6ept.’91.25
12*2 ;
Bi-m’ly. il50
40 300.000 697,871 10
100 300,000 6,C
6
J
7 . Puly’91. 3*2 E agle.......
71,763 6*2 6
7
J. < J.
fe
100 200.000
Empire City
25 600,000 4
7
15 Iday,’91,10
3*2 I
17,304 7
M. < N. 15
&
30 200,010
Exchange..
City....... - 100 : ,000,000 2,1
......1 Lpr. ’91. 3
10
10
102,405 10
47,800
50 200,000
Farragut...
Clinton*.. 100 300,000
4pr.,’90.10
10
1
6 Ju ly ’91. 3
10
¿
59,841 6
100 300.000
Fire Ass’n..
Columbia* 100 300,000 261,500 ...........
‘91.10
20
«
20
93,900
200,000
100 1, 000,000 2,296,558 20
German Am
Columbus.
91. 5
10
J
8 ruly’91. 4
10
8
>,000,000 3,5
50 1,000,000 879,214 10
Germania..
•Commerce.. 100
91. 4
7 ruly’91. 3
8
J
10
80,674 10
) J. < J. 7
&
50 200.000
Globe........
Continental . 100 ,000,000
91. 5
10
11 lu g.’91. 6
10
3F. < A. 10
&
200,000 390,828 10
25
Greenwich.
Corn Exch.’* 100 ,000,000 1,
91. 3
6
8 ruly’91. 4
6
8
)J . & J.
55,028 8
15 150.000
Hamilton...
. 25 250,000
91. 5
10
10
31,800
50 1, 000,000 546,263 10
Hanover___
. 25 100,000
91. 5
10
8 Fuly’ 91. 4
10
8
)J
Hom e......... 100 3,000,000 1,494,595 10
l l t h Ward*.. 25 100,000 196,000 . & J.
12
12
150.000 171,633 16
82,400
30
Kings Co---. 100 250,000
6 luly’91. 3
6
6
6
21,214 7
3 J. < J.
fe
20 150.000
Lafayette...
F ifth ....... . 100 150.000
Jan.,’91. 2ifl
ruly .91.50
58,572
50 800.000
Liberty --Fifth Ave* . 100 100.000
Tuly ’91.25
6
6
83,535 6
3 Q —J- 100 100
80 200,000
Man.&Build.
. 100 500,000 6,
F ir s t .......
5
10
7 July ’91. 3*2 Nassau.......
10
7
3 J. & J.
200,000 219,532 10
100
Fourth_ . 100 3,200,000 1,
_
3
8
44,249 8
75,000
50 200,000
National--* 100 100,000
5
10
12 Apr.’91. 6
10
[) A. & 0. 10
500,000 435,511 10
Niagara...... 100
«Gallatin. . 50 1,000,000 1, 539.400
3
6
6
8
31,300
50 350.000
North River.
Gansevot * 50 200,000
5
12
12
12
25 200.000
Pacific........
. 50 200,000 369.400
Garfield.
Aug.,’91. 5
12
12
6 Aug.’91. 3
12
OF. <&A,
6
50 150.000
Peter Cooper
* 75 750,000 277.100
July,’91. 5
10
6
12 May,’91.12
12
0
20 1 , 000,000
Phenix......
* 100 200,000 516,900 May.
July,’91. 5
10
10
10 May,'91. 5
0
<
fe
50 200.000 127,12' 10
Rutgers’ ...
Germania* . 100 200,000 503,300 M. & N. 10
July, ’91. 31«
7
7
6 May,’91. 3
7
0
N.
6
25 200,000
Standard...
Greenwich**. 25 200,000 149,000 M.
7
6*2 Jan.,’91. 3
6
81,600
50 200,000
Stuyvesant
Hamilton* . 100 150,000
July,’91. 5
11
12
11
15,700
25 250.000
Unit’d States
Harlem*... . 100 100,000
Aug.,’91. 5
10
10
10
*
5,600
100,000
25 300.000
July, *91.10
20
20
July’91. 3*2 Westchest’r .
7
20
7
OJ. «& j.
10 250,000
Williamsb’ g.
. 100 1,000,000 1,563,600
6 May,’91. 3
6
0
104.100 M. & N.
. 100 100,000
Home*
r* 100 200.000 143,600
Hud 1
14 July’91. 7
0 J. & J. 14
a. lo o 1,500,000 5
.. 100 200,000
8 July’91. 4
8
0
284,500 J. & j.
Irving .. .. 50 500,000
10 July’91. 5
6
fe
Leather ' V. 100 600,000 574,000 J, < J. 10
*.
Xienox Hill* 100 100,000
3 Aug.’91. 3
* Over all liabilities, including re-insurance, capital and scrip,
o ..... .....
Lincoln. .. 100 300,000 355,900 .T A. J.
Jan.,’87. 3
>
n
.* 100 500,000 174,000 .
t Surplus includes scrip.
7 Aug.’91. 3*a
7
>
0
L* 50 2,050,000 1,538,200 F. & A.
8 July’91. 4
8
>0
NEW YORK AND BROOKLYN HORSE RAILROADS.
t. 100 750,000 753,800 J. & J8 July ’91. 4
8
)0J. < J.
fe
. 25 2,000,000 1,900,700
See earnings in Ch r o n ic l e , V. 53, p. 325, 408. See also V, 53, P, 325.
10 July’91. 4
)0
&
r* 25 400,000 414.200 J. < J. 10
6*2 6 July’91. 3
)0J. < J.
&
Dividends and Interest.
.. 100 1,000,000 967.500
7 July’91. 3*2
7
)0J. < J.
&
’ . 50 2,000,000 900.700
R ailro ad s .
6 July’91. 3
6
)0
fe
600,000 141.200 J, < JPar. Amount,
Rate.* (
.. 50
(See earnings in
10 June’91. 5
Date,
)0
Period.]
*. IOC 300,000 638.700 J. & D 10
$
6 July’91. 3
Y. 51, p. 788.;
6
t
%
’89. ’90.
30
*. IOC 250,000 303.500 J. & J
Oct.,’91. 4
16
16
)0
Li* 50 100,000 352,100 Q.-J.
6 JOct. 9 1 ,1* 2
<
1,250,000 Q.-J. 6
200,000
50
Mutual*
Atlantic Av. (B’klyn) st’k
8 M ay’91. 4
7 May 1, ’94
8
)0 M. & N
I.
140,500 V <fcN. 7
Nassau* .. 10G 500,000
1st mortgage.............
in
5 Oct., 1909
L*. IOC 250,000
General mortgage.... 1,000 759,000 A. & O. 5
10 July’91, 5
30 J. & J 10
100 900,000 J. «fe J. 1% 1*2.J’ly,’91, %
[.. IOC 2,000,000
||Bleeeker Street—Stock
8 July’91. 4
1900
8
7
30 J. < J
&
J. < J. 7
fc
ty IOC 200,000
1st mortgage— ... - - - 1,000 700,000
6 Aug.’91. 3
6
30 F. & A
8 Oct. 91,2*2
2,100,000 Q.-J. 4
X. IOC 300,000
’way <fc7thAv.—Stock
7 Jan.,’91. 3*2 TTB
7
5 June,1904
00 J. < J
&
1,500,000 J. «fe D. 5
750,000
Ninth.
1st mortgage
July’91. 3
O
ft
_
_
5 July, 1914
&
500,000 J. < J. 5
d* 10< 100,000
2d mortgage
6 July’91. 3
1924
6
5
00 J. < J
fe
1,125,000 J. «fe J. 5
ja. 7
C 700,000
B’ w’ y Surf.-1stM.,guar
10 July’91. 5
1905
5
00 J. < J 10
fe
1,000,000 J. «fe J. 5
300,000
... 2
2d M., int. as rental.
8 Aug.’91. 2
1919
8
5
00 Q —F.
&
350,000 A. < O. 5
Faciflc* ... 5( 422,700
So. Ferry RR. IstM.gu.
9 July’91. 5
6*2 Aug.’91,2
00 J. < J. 8
fe
525,000 Q .-F. 2
Park ... ... 10( 2,000,000
Broadway (Brooklyn)...
10 July’91. 5
5 Co’s opti’n
00 J. < J . 10
&
250,000 J. «fe J. 5
... 2f 200,000
1st mortgage.............
6 July’91. 3
do
5
00 J. < J . 6
&
100,000 J. «fe J. 5
Phénix ... 2( 1,000,000
1st M., Yates Av. guar
5 Apr. ’91. 3
8 Oct.,’91,2
< 0 A. < 0 . 5
3
fe
6,000,000 Q.-J. 8
h.* 10<) 1,000,000
Brooklyn City—Stock...
8 July ’91. 4
5 Jan., 1892
00 J. & J . 7
800,000 J. «fe J. 5
) 1,500,000
... 10<
1st mortgage. . . . ......
5 July,1941
3,000,000 J. «fe J.
*..
Riverside* 10<3 100,000
Gen. M., red. m 1916 .
6 July’91. 3
5 July,1908
00 J. < j . 6
fe
&
200,000 J. < J. 5
as* 10<3 500,000
B’klyn Crosst’n 1st M.
2 July’91. 3
6i
6 Jan., 1892
00 J. < J . 6
fe
564,000 J. «fe J. 6
...
■Seaboard. 10 3 500,000
Bushw. Av. 1st < 2d M.
&
10 July’91. 5
1906
00 J. < a. 10
&
5
F. < A. 5
&
200,000
Second. ... 10 3 300,000
Gr. St. < Newt’n 1st M
fc
6 July’91. 3 .
00 J. < : . 6
fe
Nil. 1 Aug. ’91,1
1,000,000
...1 0 3 300,000
Brooklyn City & Newt’n
8 July ’91. 4
5 July,1939
oo j . < ; . 8
fe
5
fe
1,000,000 J. < j.
thr 10 (3 500,000
Consolidated mort....
8 July’91. 6
7 J’y,’91jl%
00 J. < ä . 8
&
600,000 Q.-J. 7
...1 0 0 200,000
Sixth
Central Crosst’n—Stock
.
3 July’91. 3
6 Nov., 1922
oo ........
250,000 M. «fe N. 6
... 10 0 1,000,000
1st mortgage.........
) 1,800,000 Q.-J. Nil. 4 Oct. 91,1*4
100,000
State*..
Cent. Park. N. «&E. Riv.
6 May,’91. 3
6
00 M. < hr.
fe
7 Dec., 1902
) 1,200,000 J. «fe D. 7
State of Y* 100 1,200,000
Consol, mortgage....
5 July’90. 2 L
00 J. & . . 5
7*2 Oct., ’91, 2
) 650,000 Q —J. 7
Third .. ...1 0 0 1,000,000
Christopher & 10th St..
. July’91. 2
6
>00 J. & J
&
} 180,000 A. < 0. 7 «fee 7 «fee Oct., 1898
ns’ 40 750,000
1st mort., 5s, 6s < 7s..
fe
Nil. Nil. Ag.’88,2*2
3 500,000
0 200,000
rd* 10
Coney Island«fe Brooklyn
5 Janl,1904
3 300,000 J. «fe J. 5
.*.. 100 100,000
1st mortgage.. -------6 Jan., 1910
. 146,000 J. «fe J. 6
*.. 100 200,000
Certificate of indebt-.
July’91. 2
8
8
L O Q.—J
O
8 Aug. ,’91,2
3 1,200,000 Q.uar. 4
... 100 500,000
&
.
2 July’91. 2i D. D. E. B. < Bat.—Stock
L O .......
O
7 June,1893
c 990,000 J. «fe D. 7
2,100,000
... 100
1st mortgage.. -------12 July’91. 6
6 Feb., 1914
M J. & r. ïÔ
30
fc
0 1,200,000 F. < A. 6
>*.. 100 200,000
Certificate of mdebt..
0 1,000,000 Q.—J. 6% 9 July,’91,3
Eighth Avenue—Stock..
* These are not National banks.
,
....
fe
6 Feb., 1914
0 1,000,000 F. < A 6
t July 9,1891, for National banks and Sept. 12,1891, for State banxs
Scrip........... -....... - -- 0 748,000 Q —F. 12 15 Aug.,’91,4
42d < Gr. St. Ferry—St’k
fe
NEW YORK AND BROOKLYN GAS COMPANIES.
7 Apr., 1893
0 236,000 A. & 0 7
1st mortgage........ - - •
Nil Nil.
Dividends and Interest. 42d St. Man. & St. N. Av,
0 2,500,000
6 Mch.,1910
0 1,200,000)M. «fe S 6
Par. Amount. Period.
1st mortgage............
G as Companies .
6 Jan., 1915
fc
0 1,525,000 J. < J 6
’89. ’90. *Date. %
2 d mortgage income.,
0 1,050,000 ...... Nil NU Feb.,’86,2
H. W. St.«fePav.F’y—St’k
7 July, 1894
0 500,000 J. & J 7
7
1st mortgage.............
Brooklyn G.-L.—Stk. $25 $2,000,000, Various 7
0 2000Ó00C Q .-F. Nil 1 Aug. 15, 1
4 Aug.,1891.2
fc
a Metropolitan Traction
501 500,000 F. < A 4
Central—Stock.......
0 800,00( ....... Nil Nil Nov.,’87,2
4 July,1891.2
20j 1,500,000. Various 4
Ninth Avenue—Stock...
Citizens’ G.-L.(B’kln)
1895-1905
0 1,862,00( Q —J. Nil 4 Oct.,’91,1
5
250.000 A. & O 5
Second Avenue—Stock..
Bonds........ .......... 1,000
5 Nov., 1909
0 1,600,00(3M. «fe N 5
5 J’n e l5 ’91.2ia
Consolidated—Stock. 100 35,430,060 J. & D 5
1st mortgage.............
5 Jan., 1909
May, 1908
K 150,00(3J. «fe J 5
3
5
Debenture bonds.. 1,000 1.500.000 M. & N. 5
Debentures............., •
8 . July,’91, 2
Aug.. 1901
0 2,000,00(3 Ó.uar. 6
6
&
950.000 F. < A, 6
Sixth Avenue—Stock...
Metropol’n—1st M. 1,000
July,1891.2
0 2,000,00<3 M. «fe N 11 12 May ’91, 6
8
Q.—J. 8
000
Equitable—Stock.. .. 100 4.000.
Third Avenue—Stock...
5 J’y 1,1937
1899
»0 5,000,00<3 J. .& J 5
6
F. & A. 6
000
Bonds.... _____ ___ 11,000 1.000.
1st mortgage. ------1891.2ia Twenty-third St.—Stock
> 600,00<3 Q —F. 10 10 A’g ’91,2*3
0
Fulton Munic.—Stk.. 100 3,000,000 Q .-J. 10 10 Oct.,1899
7 May, 1893
in 250.00<3 E & K . 7
6
300.000 J. & J. 6
Bonds, red. at 100.
1st mortgage
5 Jan., 1906
)0 150/300 .1 < j . 5
. fe
6 July.1891.2ia
Metrop. (B’kln)—Stk. 100 1, 000,000 J. & J. 6
Debentures..
1924
5
30 375,000 J. «fe J.1 5
4ia July,1891.2ia
100 3.500.000 J. & J. 4
Mutual (N. Y .)—Stk.
B’way, 1st M., guar...
1902
6
1st M., red. at 100. 1,000 1.500.000 M. & N. 6
6 Oct., 1891.1ia
6
- The figures to t h e » eolm m» ' W ' f Ä S e Ä Ä Ä 1 " ^
'
1 ,000,000 Q .-J.
25
Nassau (B’kln)—Stk.
5 Go.’s option. a‘Ä Ä S ° » t o w ' ? Ä l Ä X » a 0 n » i o ckt, and maturity ot bom U.
700.000 M. & N. 5
Scrip..................- Var’s
6 J’n el5 ’91.1ia
10 1 ,000,000 Q.—M. 6
People’s, (B’kln) —
Stk.
May, 1907
5
II Leased to Tw ^ty-tlurd Stree . c
t
t g per cent per annum.
368,000 M. «fe N. 5
Bonds, red. at 100. 1,000
Apr., 1919
6
94,000 A. < O. 6
&
Bonds................. Var’s
* Ä a ' l i Ä Ä Ä ‘w S «<8 t f e K Paventa P e r £ a t 10pa,
¡Standard, pref.—Stk 100 3.369.000 Q.—M. 4ia 5 Sept.1891.li4
8 July,1891.1ia
8
50 1,000,000 Q .-J.
Williamsburg........J
Contrtds tue Broadway & Seventh Avenue, the Twenty-Third St., &c1900
6
1,000 1 ,000,000 A. & O. 6
Bonds
—See V .53, p. 325.
This column shows last dividend on stocks, and maturity of bonds
J
134
INVESTORS’ SUPPLEMENT.
M O N TH L Y
E A R N IN G S
PR IN C IP A L
M arch . A p r il. M ay.
•
Jan.
S
A la b a m a G r e a t S o u th e rn -
OF
*
«
June.
S
[V
ol.
Lin.
R A ILR O AD S.
J u ly .
Aug.
Sept.
Oct.
N ov.
$
118,801
160,841
172,711
.........
$
$
D ec.
T o t a l.
115,24*
130,37
100,18*
150,3©
*
111,345
139,294
147,707
144,456
1888a....................(6,482 to 7.112 m .).
1889a..................................(7,112 m .).
1890a....................................(7,109 m .).
1891..................................... (7,119 m .).
2 1,995,451
1 2.248,461
8 3,005,71*
1 2,953,181
9
2,039,8u0
2,094,199
2,523.543
2,846,195
4 2,543,071 2.843,65] 2,525,184 2,533.332 26,467,358
1(2,091,551 3,040,75* 2,741,97* 2,088,785 28.H6.456
18,137,64t 3,858,8SS 8,072.88C 2,932,445 33,241.00»7 .........
......... (1,744 to 1.836 m .).,
1888
1889.....................................(1,843 m.).
1890 .....................(1,863 to 1,934 m .).
1891... . ......... .................... (1,984 m .).
0 1,709,184
5 1,748,318
4 2.024,02]
0 1,905,360
1.702,489
1,803.187
1.916,304
1,099,000
0 1,704,084 1,853,041 1,599,96! 1,705,326 20.156.274
4 2,079,237 2,252,485 1,900,44t 2.130,893 22,427,093
7 2,215,727 2,230,207 2,001,258 2,013,163 24,312,70»
9 .........
1888
......................... (296 m .).
1889 ..................................... (296 m .).
1890
......................... (295 m .).
1891 ................ .....................(295 m .).
136,749 128,707 127,662
100,8001 145,420 154,654
177,353150,073j 148,226
159,005 148,199 154,837
A tchison T o p e k a 4k S a n ta F e—
B a lt im o r e & O h i o -
B a lt
At
o S o u th w estern —
170,908
161,145
I » ',530
170,374
105,534
162,332
200,115
185,722
208,245 221,014
1888
................................. (1,046m .)..
205,628 216,128
1889
..................
(1,046 m .).
210,183 271.994
1890 .............................................(1,040m .)..
251,734 205,851
..........(1,046 to 1,083 m .).
1891
17
¡6
15
19
209,597
228,250
270,804
805,571
170,900
1888.......................................(281 m .).,
1889
...............
(281m .)., 179,905
188,521
IS90....................................... (281m .)..
185,006
.................................... (281m .;.,
1891
B u r l, C e d a r R a p id s Ac N o rth ’ n—
C a n a d ia n Pa cific —
6
8
4
6
2 160,560 154,268
7 155,891 159,582
2 170,480 160,406
3 187,830 *180,478
0 194,501 222,148
3 217,710 210,267
9 231,855 200,427
7 201,828 208,340
139,2©
189,5©
185,171
153,34180,75"
179,50"
«
158,420 1,549,399197,059 1.901.888
182,221 1,965,968:
162,708
161,824
194,080
210,050
0 190,773
0 190,960
7 221,541
4 ..........
181,637
220,211
219.555
150,193
203,228
191,856
187,830 2,050,534
203,967 2,177,058108,254 2,334,591
198,849
217,729
237,166
272,073
5 280.433
5 208,009
8 802,889
7 ..........
330,856
358,521
387,470
305,853
282,040
318,245
208.197 2,848,075268,997 2,986,542306,104 8,303,982:
1888
.......... (4,476 to 4,795 m .).. 801.205
1889
......... (4.795 to 4.957 m .).. 897,938
1890......................(4.957 to 5.564 m .).. 1,034,122
1,365,221
1891
................................. (5,564m ,)..
887.994
7 1,010,085
7 1,100,099
9 1,396,350
« 1,002,920
1.180,996
1.255,361
1,408,000
1,600,482
7(l,180,947 1,848,700 1,328,964 1,146,441 13,195,538
y 1,483,407 1,620.970 1,473,695 1,265,801 15,030,680
1,007,715 1,760,447 1,734,400 1,548.491
) ..........
835,505
1888........................................... »...(627 m .)..
1889............................(627 to 652 m .).. 1,044,916
893,974
1890 ..................................... (052m .)..
1,089,190
.................................... (052m .)..
1891
930,391 906.502
843,608 900,688
821.702 006.007
943,294 1,019,341
5 1,003,143
4 1,080,021
9 1.103,820
0 1,148,050
5 1,328,212 1,315,868 1,174,567
977,212 13.W.471
1.180,281 1,305.100 1,172,311 1,111,607 13,497,394
1,237,244 1,342,977 1,231,292 1,176,897 13,603,72©
634,750
058,807
715,408
700,708
562,955
605,609
639.285
724,999
7 449,032
7 400,593
2 535,152
3 ..........
1.074,180
1,100,930
1,190,200
1,250,443 1,334,528
465,701 409,003
506,739 581,801
555,182 595,957
2)196,982
420,431 381,919
.................................... (754m .)..
1888
1889............................(754 to 931 m .).. 442,737 425,059
1890
.......................... (931m .).. 018,017 577,006
1891
..................
(970 m .).. 654,663 023,075
425,593
439.007
571.524
006,660
8
7
2
7
C e n tra l o f N e w J e r s e y -
C e n t r a l It It. A B k t . C o. o f G a .—
1888
1889
1890
1891
679,658
690,695
873,967
812,164
...........(1,097 to 1,220 m .)..
..........(1,220 to 1,254 m .)..
......... (1,276 to 1.812 m .)..
........... (1,312 to 1,530 m .).
C h e sa p ea k e & O h io -
C h icago B u rlin g to n ds Q u in c y -
C h icago dIc E astern Illin o is—
....................
(436 m.) . 205,869 208,315
1888
1889
.................
(430 m .).. 210,846 214,310
227,287 219,814
1890*............................................... (436m .)..
290,227 272,008
1891«.............................................. .(480m .)..
C h icago M ilw a u k e e Ac St. P a u l.—
1888
....... (6,021 to 5.070 m .).. 1,452,047
1889
........................(5,678 m.) 1,055,910
1890...................... (5,078 to 5.059 m .).. 1,794,411
1,940,196
1891
..................................(5,721m .)..
C hicago As N o r t h w e s t e r n -
1888....................... (4,208 to 4.250 m .)..
1889
.
(4,250 m .)..
1890
...
(4,250 to 4.258 m .)..
1891
........... (4,258 to 4.273 m .)..
C hic. St. P a u l M in n . Ac O m a h a -
1
0
2
1
1,577,062 1,930.889
1,070.008 2,019,89
1,793,140 2,077,754
1,878.093 2,131,893
438,927 500,341
429,173 532.525
451,975 528,917
457,246 550,411
278,281 290.503
263,257 802,813
327,606 S21.499
331.702 347,302
W h o le E r la h g e r S y s t e m 582,748 565,996 575.941
1888
.............................. (1,140m .)..
691,402 595.980 035,367
1889
...............................(1,140m .)..
775,593 072,058 058,373
1890
..................... (1,140 m .).
1891
.
(1.140 m .).. 735,945 671,252 698.410
1888
1889
1890
1891 .......
....................'......(336 m .).
...............
(330 m .)..
.........
(386 m.) .
(836 m .)..
277,027
319,378
858,091
353,549
C olum bus H o c k . V u l. Ac T o l e d o -
204,305
1888 ............................................... (825m .)..
199,470
1889
.................................... (325m .)..
1890
...
(325 m .).. 164,411
209,277
1891.........................
(327 m .).
D e n v e r Ac R io G r a n d e -
7 300,807
4 294,418
9 891,477
332,022
B a st Tenn. V a . Ac G a .—
1888
1889
1890
1691..
......................... (139 m.)
..........................(139m .)..
...........................(189 m .)..
. .........................(139 m .)..
F lin t Ac P e r e M a r q u e t t e -
87,800
74.359
58,998
60,741
1888
................(363 to 379 m .).. 194,396
1889 ................................... (379 m .).. 202,062
1890
....
....(6 2 7 m .).. 228,111
253,965
1891
...................................(027m .)..
111. Cent.—111. L i n e A So. D iv .—
1888
.......... (2,355 to 2,553 m .)..
1889
.......... (2,707 to 2,875 m .)..
1890
........................ (2,875 m .)..
1891*................................... (2,875 m .)..
I o w a C en tra l—
1888
1889
1890
1891
..........................(510 m .)..
..... ................... (509 m .)..
..........................(497 m.).
..........................(497 m .)..
L a k e E r ie Ac W e s t e r n -
74,409
64.0H
54,042
48,510
107.954
128,656
136 522
146,059
. .
.
M e x ic a n C e n tra l—
550,286
564,075
573,315
558.010
18F8
.................. .(592 to 651 m .).. 181,525 145.443
1889
........................................
.181,04(i (651m .)..
.......... 190,194
1890 ..........................(092 to 699 m .).. 226.716 224,280
1891
(099 m .).. *207,818 *209,580
160,436
246,000
260,407
*236,148
M ilw a u k e e L a k e S. Ac W e st.—
296,224
282,817
367,352
343,404
323,407
328,070
340,194
392,508
249,511 2,719,860'
242,355 2,670,58©
320,572
2.274,481
2,801,799
2,453,280
1,940,027
2,182,964
2,190,175
457,570 6,410.32©
583,539 6.422,644
570,084 6,854,521
657,089 078,480 671,977 705,700
047,792 690,206 724,092 718,835
756,548 750,008 810,017 819,448
681,827 *093,700 *751,100 *744,700
721,272
754,543
830,079
732,803
810,220
872,189
606,860
705,875
813,366
615,828 7,668,654
697,717 8,040,60©
833,834 8,875,780
423,898 438,397 456.594
445,817 472,771 491.411
592,244 568,357 013,010
407,661 640,600
470,874
535,074
653,060
406,628
577,021
660,854
550,967
661,061
704,080
517,569
624,188
658,070
497,741 5,615,067
038,220 0,413.751
801,715 7,491,38»
77,208
56,991
61,116
50,727
03,314
80,208
85,604
94.785
60,40V
74,077
93,328
77,892
70,318
87,232
60.380
67,607
89,481 1,008,08962,033
815.83©
60,711
810,33©
182,504 204,990
180.122 208,278
232,131 254,042
2 1 o,600
193,650
187,430
205,597 2,403,07©
210.307
240,441
75,833
58,792
66,802
61,580
93,387
65,452
78,067
218,545 186,855
199,335 170,272
247,456 225,240
214,450 220,074
197,283
193,702
225,024
*237,731
1,076,861 1,054,444
1,259,013 1,201,686
1,308,808 1.123,ï60
1,358,940 1,384,634
1.156,968 1,157,630 1,882,073 1,330,232 1,330,071 1
1,304,912 1.467,850 1.680,082 1,651,712 1,561,487 l
1,415,444 *1503108 *1716471 *1,075,501 *1,081,958 1
1,582,297
106,620
109,410
114,177
117,589
104,429 115,344 120,681
100,755 138,497 144,018
120,581 150,252 172,932
128,028 *165,484
141,900
171,511
180,447
125,871
143,833
152,852
122,230
140,409
155,002
157,968 166,072 179,289 234,031 225,646
186,097 180,87c 209,024 203,180 321,5o0
257,192 231,410 240,339 298,140 281,427
251,420 238,4b5 307,003 312,502
221,157
232,143
280,682
185,412
206,305
246,641
199,170
227.092
279,044
103,030
107.807
127,452
106,320
162,699
176,269 186,396
190,089 200,644
218,805 200,512
124,616 120,907
143,448 111,550
135.231 140,807
120,000
120,760
482,104
457.906
509,567
538,129
512,042
516,872
587,045
583,770
249,705
241,057
273,792
220,503 2,893,970
108,781 2,524,655
260,072 c
145,407 149,470 152,347
186,451 202,321 207,358
242.715 211.358 252,508
251,998 226,835 253,454
L o u is v ille A N a s h v i ll e 1888
...........(1,978 to 2,181 m .).. 1,306,817 1,280,395 1, 201,202
1889
............................................................(2,178 to 1,470,878
1,398,S47 1,340,528 2.181 m .)..
1890......... ............ (2,196 to 2.248 m .).. 1.571,827 1,496.840 1.518,177
1891....................... (2,344 to 2,850 m .).. 1,590,515 1,529,781 1,552,030
1888e......................(1,236 to 1,397 m .)..
1839e...................... (1,897 to 1,527 m .)..
■1890e.............
(1,527 m .)..
“ 1891....................... (1,527 to 1,803 m .)..
283,102
263,075
338,401
253,634
244,390
304,601
1888 ................ ........... (548 to 589 m .)..
1889
................... ....(5 8 9 m .)..
1890
........’....... (589 to 722 n w ..
1891
...........................(722 m .)..
147,057 152,887
1888
.................................... (587m .)..
1889
(587m .)..177,420 170,427
1890
.....(5 8 7 m .).. 169,260 108,785
192,409 189,545
1891.........................
,.(537 m .).
M em p h is Ac C h a rle sto n —
1888 .........
(330 m .).. 157.940 144,618
162,520 102.516
1889
.................... .... .......... ....................(330m .)..
1890
........................... (330 m .).. 172,514 145,3i.5
1891
(330m .).. 157,193 130,3j0
246,750
242,332
300,012
..........
730,283 7,148,532
848.753 8.130,274
824,630 8,965,14©
124,312
117,180
138,821
152,681
L o u is v ille N e w A l b . A Chic.—
205,294 200,797
180,029 209,843
247,415 280,076
204,124 343,183
700,967
816,300
800,737
190,585 208,474
171,50' 230,565
252,454 291,270
226,330 286,794
98,272
110,601
8,037,977 3,423,932 2,838,567 2,774,048 29.742,76©
3,180,677 3,464,594 2,967,578 3,190.778
3,244,468 3,523,053 2,872,681 2,815,732
577,566 500,702 023,051 682,000 700,002 827,028
778,089 720,690 651,473 700,399 778,646 844,475
642,544 650,820 725,714 695,811
257,680 251,462 248,155 283,678 296,320 305,574
196,753 107,484 210,581 253,630 243,076 261,634
359,153 240,900 277,280 280.001 307,800 340,508
231,504 282,150 318,850 *324,089
1.037,330
1,217,090
1,301,008
1,452,430
122.939
127,341
418,004 5,123,931
555,508 6,149,998
639,627 7,710,504
1 530,574 528,306 580,402 575,264 571,012 677,241
75,634
60,015
02.67U
52,027
1,063,084
1,226,005
1,270,418
1,431,296
440,000
669,681
680,340
319,497 3,624,499
378,909 3,937,057
381,740 4.447.85T
541,840
579,608
606.584
005,213
1,076,375
1,254,805
1,355,421
1,485,080
473,821
623,235
705,734
300,589
378,560
382,762
1888...................... (1,098 to 1,140 m .).. 469,444 462,514 444,667
510,641 513,828 509,960
1889
................................. (1,140m .)..
1890
.......„.(1,181 to 1,359 m .) . 655,693 671,572 583,900
1891
................................. (1,359m .)..
092,891 570,018 587,915
E liz a b e th . L e x . Ac B ig S a n d y -
750,365 7,392,905
878,492 8,058 741
873,907 8,708,176-
821,154 329,780
858,510 383,874
405,355 413,200
...........
189,370 182,385
174,112 174,185
163,C10 212,744
178,170 220,440
......... (1,462 to 1,407 m .).. 586,437 514,701
...........(1,481 to 1.517 m .).. 572,592 497,077
606,491 528,128
................................. (1,499m .)..
651,627 556.215
...........(1.575 to 1,637m .).
1888
1889
1890
1891
212,359
184,838
240,415
232,954
797,399
828,074
876,730
9 1,707,064 2,001,329 1,924,565 2,078.67 2,478,107 2,942,401 2,615,260
1 1,929,708 2,007,204 1,977,398
2,550,195 2,951,840 2,737,877
0 2,000,254 1.049,876 2,149,068
2,714,028 2,905,771 2,050,980
0 2,007,548 2,147,014 2,309,552
..........
5 2,090,253 2,286,974 2,149,666
2,714,274 2,972,265 2,283,424
8 2,144,942 2,061,054 2,207,573
2,556,590 2,979,807 2,513,452
7 2,299,654 2,184,427 2,461,12r
3,036,510 2,048,510 2,540,672
2 2,131,002 2,375,505 2,563,123
..........
8 472,178 561,089 550,630
650,802 741,748
615,790
4 481,441 478,734 507.594
588,507 758,720
608,937
5 514,057 483.233 539,920
601,910 703,137
677,727
» 578,612 570,274 650,562
1.571,289 1,670,493 1,897,532
1,013,245 1,500,870 1,893,414
1,852,333 1,758,002 1.910,316
1,893,407 1,707,841 2,029,078
324,886
1888
........................ (1,894 m .).
366,034
1889
................................. (1,394m .)..
1800 ....................................-(1,894 m .).. 488.806
1891........................(1,394 to 1,475 m .).. 485,730
C in cin n ati N . O . Ac T e x a s P a c .—
205.970
207,360
263,755
326,381
901,295
918,978
942,886
445,728
581,267
714,247
...........
420,404 305,218 442,327
474,602 407,996 585,437
640,997 005,041 643,663
720,825 680,815 769,751
l 2,190,599 2,445.840 2,325.225
0 2,613,751 2,6«4,060 2,671,740
4 2.980,702 2,740,583 2,721,399
8 2,018,707 2,609,199 2,701,405
2,142.093 2,117,773 1,517,588
1,916,205 2,412,332 2,057,998
2,717,408 2,589,410 3,100,747
2,329,830 2,237,904 2,489,279
1888 ......................(6,121 to 6,345 m .)..
1889 ...................... (6,341 to 0,520 m .)..
1890 ....................................(0,520 in.)1891.. ............................... (0,497 m .).
646,361
852,064
873,048
1,316,324
1,382,680
1,577,216
1,496,504
1,866,790 1
1,871,855 1
1,485,274 1
1,510,407 1
186,736 194,078 202,431
198,398 2ol,727 214,2:10
214,066 231,424 240,657
230,050 243,416 208 037;
226,844 234,805 229,139
247,152 240,003 243,888
245,016 262,005 *250,852
*271,551
193,339
200,390
*231,981
188,121
230,723
*221,090 a
129.81(1
157,71«
100,411
140,224
100,097
167,660
189,481
184,162
182,457
370,752 505,507 498,031 388.791 499.368
485,912 472,598 408,384 478,520 568,364
430.050 451,503 470,000 400,131 574,383
544,080 637,815 *581,188
476,302
570,680
504,021
491,613
031,708
631,050
240,948
290,984
282,073
190,101
252,040
234,061
120.547 107,036 115,136
118,539 112,122 125,514
143.051 128,367 111,015
110,721 108.086 123,036
487,899 510,978
527,670 564,668
515,264 524,244
501,846 571,405
192,037 246,028
251,284 319,002
294,075* 877,564
*222,024 *288,474
1,345,027 1,394,834 L
,437,054 1,341,787 1,454,222 1
<
1,037,277 1,015,410 ,768.406 1,505,416 1,654,053 1»
1,700,039 1,005,728 1,788,920 1,675,766 1,651,830 1
1
♦1784070
299,467
324,174
378,380
*336,152
297,792
851,51«
306.327
122,573
146,255
168,543
104,001
138,725
102,450
817,102 290,738
381,881 334,375
391,722 403,632
*304,686
310,106
343,604
408,719
• Approxim ite figures.
a Includes whole system (excepting St. Louis & San Francisco) and lines half owned.
b Excluding Ocean BS. Co.
e Embracing corrections found necessary after monthly totals had been published.
e Figures are given In Mexican currency.
Sbptem bhb,
155
RAILROAD EARNINGS?
1891.]
MONTHLY EARNINGS OF PRINCIPAL RAILROADS—(Concluded)
Jan.
M in n e a p o lis ds St. L o n ls —
1888 .................................. (351 m.)..
1880
(863
woo..... .............................. (368 m.)..
u n : : : : : : : ..........................fees mo..
M obile dfc Ohio—
.
......................................... (687 m.)..
1889
(087 m.)..
1^0 ...............
(687 m.)..
........ ........v . ( « f m . ) . .
Feb.
March. A pril.
«
100,161
109,536
101,276 130,114
112,379 139,137
109,234
93,172
m.)..
215,992 203,588
284,203 277,059 257,052
291,637 247,300 245,396
'321,691 *284,495 *287,540
257,133
" f ^ Vl,.!e.®h.att.*.* .1627W o r n . ) . . 270,806 248,835 290,839
iqwq
.(052 m.) •« 293,080 275.627
271,182
1890 \\\\\'.\'; .................... (652 m.).. 308,586 279.315 306,995
1891»..' ....... . . . . . ^ . (652 1081° m.) . 357,713 292,523
N . Y . C e n tra i & H u cl. 8 i v . .586,483 2,849,609
1888.................... (I-44 » <*> J,4g0
••
.461,730 2,861,599
1Q Q
Q
...........111.). .
,703,853 2.946,522
...........(1,430 to 1,465 m.)..
1800
1,732,996 3,061,439
202,210
H e w Y o r k L a k e E r ie dc W e s t . 1888 ................................ (1,333m.).. .890.183
1,924,29 L
W TO....................................... (1.633m.)..
1890.
...................... (1,633 m.).. 2,155,785
1891...............................
(1633m.).. 2,172,279
M ew Y o r k & N e w E n g la n d 391,539
1888
....................... (490 m.)..
& : ......................... «go“ -)--
.............................. (40
9
MS ro Y o r k 8a8a* & . ^ . e8t.'a57m.)..
iqqa
......... ..............(157 in*)**
189l.\T.V.:....................... (157 m.)..
N o rfo lk dc W e s t e r n ......................... ,....(554:111.).
tttfttf
1889..........................(591 to 638 m.)..
isoo ” ! ............... (088 to 1,033 m.)..
1891
.......... (1,077 to 1,105 m.)..
N orthern C en tra l—
.
.....................................(077 “+ **
•/
412,571
434,40"
446,040
l,048,2a0 2,130,419
,711.177 2,113,191
¡,056,487 2,242,488
¡,054,403 2,291.280
M ay.
June.
Jnly.
$
*
102,416 103,601 113.409
93,537 107.800 103,945
109,633 105,268 99,489
117,355 134,275 132,240
174,192 210,408 194,468
197,348 243,579 216,807
254.113 298,888 258,002
*280,565 *276,278 *250,889
Aug.
Dee.
*
140,600
154,702
155,500
t
S
110,427 1,354,560
120,330 1,447,937
134,274 1,510,844
261,641
295,561
322,233
277,445
289,340
*844,785
312,498 2,606,282
322,326 3,054.144
*347,752 C3,441,944
261,571
293,989
328,827
285.125 3,125,280
809,265 3,505,725
347,202 3,784,634
Oct.
*
109,634
120,474
124,326
151,831
179,282
207,000
257,223
*204,777
272,185 271,179
232.263 252,79' 22°,181
328,640 300,210
258,288 287,832 259,175
355,668 850,067
275.359
277,144 298.050
493,357
299,33r 305,378 306.359
2,824.844 2,890,216 !
¡,748.77'
.742,372 2,892,851 3.1H.443 :
,023.979 6,128.094 3,007.097 :
,020,393 3,186.246 3,207,095 :
1,112,656 2,382,879 2,282,194 2.378,769 2,440,766
.953,733 2,182,586 2,311,004 2,538,440 2,778.708
!,S45,75‘~ 2.497,070 2,426,790 2,504,124 2,798,618
¡,234,032 2,449,436 2,684,494 2,818,392
2,994,242 3,000,851 35,283,584
8,113,405 2.981,531 36.056.598
3,099,581 3,083,956 36,258,641
2,260.298 2,141,803 27,009,358
2,479.171 2,187,801 27,512,028
2,514,425 2,377,635 29,201,700
459,546
491,348
506.715
409,727
505,454
090,018
488,114
528,151
536,141
528,996
502,437
538,972
549,359
452,441
464,749
1889
...................... (377 m.)..
1890.7.. .............................. (377 m.). . 559,118
495,561
1891. . . ............................... (377
Ml0
8Sh. r. .P.a.
e n
Cifl.r(3,377 to 3,498 m.).. 703,607
1889
.........(3,447 to 3,614 m.).. 1,183,398
W90.................... (3,590 to 4,162 m.).. ‘ 177,400
1891 ....................(4,337 to 4,399 m.).. 752,139
O h io & M is s is s ip p i304,827
188«...................................(623 m.)..
430,210
488.053
597,898
896,512
417,900
692,036
763,277
123,694
124,236
130,048
427,696
527,319
770,454
119,527
103,24'
104,466
115,088
429.869
473,266
482,779
120,000
138,345
145,119
380,953 378,440 410,825 424.439 450,079
385,713 422.804 422.113 476,024 479 880
399,005 452,266 481,852 615,933 514,832
417,781 481,949 491,927 527,328 550,892
380,801
398,065
657,620
691,750
T otal.
Nov.
143.840
182.228
170,362
Sept.
$
499.538
500,226
483,460
1,537,289 1,010,137 l,e03,585 1,665,291 1,711,275
1,632,186 1,797,377 1,925.394 2,091,471 2,125,291
1.964.771 1,930,404 2.015,310 2, 120.666 2,508,222
1.902.772 1,895,832 *1922922 *2033151
379.185 396,602
289.313
290.678 292,920 270,079 293,701 296,523 275,591 412,605 396,694
311,078
298,459 313,970
318,922
f i x » : : : : : ............................................. e g g “ -?- 319,768 289,265 309,563 314,050 362,001 305,965 320,410 411,104 392,386
1890
...................................................... 303,368 354,708 309,242 332,703 304,927 856,388 *412,592
328,213 305,964 348,427
O re go n R a i l w a y & N a v . C o .—
563 211
507.550
1888
.............. (752 to 855 m.).. 272,598
385,952
374,627
1889 ....................... (874 to 950 m.).. 264,995
456,220
420.353
126,249
466,642
473,857
1,898,612 1,481,523 18,060,104
2,226,731 1,601,375 21,741,891
2,599,311 2,281,279 24,402,751
390,939 5,285,427 5,146,158
P * a fufnesaeasa of Pittsburg A E r l e ) 193,981 4,379,454 4,526,562 4,650,046 5,027,760 5,080,402 4,822,412 5.993,96» 5,428,733 5,857,772
1888 ................. (+2,346 to 2,369 m.)..
528,746 4,421,156 4,796,136 5,032,370 5,294,810 3,931.020 5,241,074 5,930,855 5,780,339 0,192,101
1889 ................(2,369 to 2,390 m.)..
5,703.033 5.172.004 5,374,400
1890
.
. ........
(2.390 m.).. ,142,311 4.851,091 5.470,715 5,619,857 5,385,252 5,440,655 5,679,782
,312,475 4,739,320 5,218,706 5,379,003
18M.V.................................... (2,435m.)..
875,732
R ich m on d & D a n v ille » y s t e m 828,095
831,640
1888
........(2,609 to 2,633 m.)..
1,048,119
919,i>59
920.217
1889 .................(2,863 to 3,004 m.)..
1145300
1060895
11540i
1TO0...................
(« » * • )• ■
1,105,100
1891*............................... (3,140 m.) . 161.300
62,153
C h a rlo tte C ol. dc A u g u s ta —
58.042
84,25'
1888 ............................... (37fm.)..
71.424
59,247
4,860,854 4,808,082 58,172,077
5,492,800 5,495,264 61,514,445
5,659,807 5,305,31» 66,202,260
1890 ..............................
1891*....................... ....(393m.)..
C o lu m b ia dc G r e e n v il le lo o k
(2 9 5 H I . )*.
1,207,176
1,626,994
1,676,581
1,777,946
1,444,868
1,653,413
1,923,073
1,905,261
83,566
85,060
89,800
89,774
81,760
+81,790
918,757
888,825
C954.438
71,939
79.300
*75,980
645,625
769,081
C869.986
154,512
191,444
*204,050
148,861 1,824,673
184.501 2.149.261
+193,950 c2,341,974
67,249
71,338
*79,370
251,661
324,129
¡'32,822
207,385
376,994
« S U ..7 .7 .......................... (»43 m.).. 252,312
340,670
281,141
1890.................................. *Hio ni*v” 310,985
St. L . A lto n & T . H . B r a n c h e s 65,104
66,211
70,349
64,541
77,603 74,487
1888
..............(208 to 242 m.)..
78,043
72,358 81,829 84,851
80,263 85,316
1889
.......................
95.233 109,623
97,662 101,774
98.985
89,004
1890
..... ..................(242 m.).
116,968 109,097 106,463 106,063 99,215 •110,560
1891
........................ (242 m./.
St. L o u is A r k a n s a s & T e x a s —
219,130 271,783 287,328 374,728
220,102 202,121 172,783 209,065 223,131 264,732 328.968 380,400 515,644
1888 .................. (1,162 to 1,171 m.).
249,586 241,167 217,239 232,930 235,892 299,541 356,320 377,883 493,466
1889 .................... (1,177 to 1,227 m.).
297,470 266,334 250,245 281,785 258,007 |315,1S8 345,261
1890* . .. .. . .......... . .......(1,227 m.).
331,931 327,145 281,809 274,957 261,540
S S * : . : : : ......................... a,227m.).
537,468 577,799
St. L o u is dc San F ran cisco—
390,920 396.108 446,435 390,483 402.890 494,002 454,880 578,901 582,531
fero?“ :. . .v:..: „ . . ( 1,212 to 1,320 m.).
429,237 401.135 435,349 423,149 434,541 431.350 506,577 607,443 625,931
WTO . . ...........
(1,329m.).
488,828 463,458 543,617 470,818 555,473 *038,155
448,774 480,383’
1TO
0 ............................. (1.329 m.).
489,035 471,278 505,34'* 507,850 519.631 544,973 584,158
lTOl7.. ...........................(1.329 m.).
165,535
S t. c*aul & D uluth —
92,581 104,561 132,443 150,960 181,595 131,204 170,784
81,871
64,511
1888 ..................... (230 to 249 m.).
85,201 104,474 106,707 122,154 138.094 139,546
83,144
60.119 72,234
164,000
......................................... ^ 7 « U ) i
140.964
87,243 77,354 112,718 105,912 126,040 111,153 157,038 *151,579
1890
...............................(947m.),
95,140 108,471 114,952 170,948 167,925
90,700
1891
.................. ..<250 m.)
789,995 805,314
St* P a u l M in n , dc M a n ito b a .—
482,421 552,012 736,729 810,359 743,455 705,124 825,268 645,18.2 959,078
1888*................... (2,651 to 3,030 m.),
638,699
020.180
394,117 382,237 642.552 665.098 758,838 593,597 746,435 720,862 1,097,399
WTO*... ............ . 777.... (8,003 m.)
755,449
673,591 747,488
1890*. : :::...............................(3,003m.) 509,283 445,014 737,478 789,485 777,880 815.351 825,001 794,977
654,857 534,288
1891 * ; . .
(3,035 m.)
4,151,023 4,074,8¿1 4,528,751
S o u th e rn Pacific C o.—
3,402,791 8,892,890 3,867,895 3,804,297 3,721,714 3,739,659 14,210,418 4,392,769 4.024.H6
■888..................... (5,576 to 5,931 m.)
3,148,023 8,452.029 3.728,651 3,751,971 3,664,768 4,026,134 4.483,770 4,765.800 4,9 ¿8,310
1889
.........(5,946 to 6,052 m.)
4,079,519
2.979,952 3,552,032 3.H50.568 4,154,857 3,895.742 4,288,917
1890
......................(6,052 m.)
8.312,369 3,709,440 3,743,327 3,941,225 4,051,980
1891 .......... .................... (6,226 m.).
T e x a s dc Pacific—
472,005 454,246 472,927 485,477 526,490 085,115
1888 ............................... (1,497 m.).. 546,675 403,068 521,169 438,050 480.632 447,077 490,425 537.233 581.591 814,165
501,130
1889... . ............. .......... ,(1,497m.).. 529,795 450,693 500,332 525,681 502.904 467,160 514.964 574,817 688,688 861,495
501.457
659,921 544,426
1890..
. . ........................... (1,497m.)..
400,046 493,343 514,461 «530,750
W91 ; . . ...................
(1,497 m.).. 614,089 507,589 505,454 531.963
3,033,314
O nion Pacific—
.
.
2,513,108 2,539,243 2X12,191 2,483,208!2,541,O04 2,608,795 2,740,397 3,831,320
1888
...........(4,705 to 5,161 m.).. 1,727,832 1,917,938 2.111.584 2.153,288 2,341.715 2,508,239 2.716,578 3,014,138 2,993,523
1889
..........(4,816 to 5,180 m .).. 1,918,103 1,745.758 3.485.585 3.547,729 4.o43,4 L 3.793,862 3,837.302 3,873.914 3,940,064 4.306,692
6
1890
..........(6,867 to 7,561 m.).. 2,427,536 2,603,622
3,025,792 2,682,218 3,176,858 3,238,867 3,344,284 8,447,780 3,500,823
1891..
: : : ....................... .(7,668m.)..
W isc o n sin C e n t r a l 303,617 316,221 327,006 385,644 391,422 428,713
1888....................................(818 m.).. 228.012 255.472 294.458 286,523 341,290 323,202 371,661 449,531 429,768 459,400
WTO* .............................. (828 m.).. 256,634 234,531 332,447 296,381 452,495 442.717 483,730 502,351 508,170 537,061
396,983 394,207
325,579 328,614
1 8 9 0 ............ (828 to 867 m.)..
871,720 326,502 406,576 404,618 390,705 426,527 *409,109 *470,230
18 M .7 .7 ................................... (867m.)..
* a nnroxlmate figures.
+ And 60 miles o f canal.
* Figures include railroad only, not the water routes.
7 Including for the fu ll year Scioto Valley Division and Maryland & W ashington ^Shenandoah Va ey) v s on.
___ _
m W estern & A tlantic included from July 1,1891.
5 *253,233 has been deducted for the tim e being from the earnings, account o f mall service claimed by company.
« Embracing corrections found necessary after monthly totals had been published.
93,495
86,372
*98,300
77,712
99,438
*97,100
73,644
83,350
213,198
525,534 0,379,797
470,038 4,888.496
512,781 4,954,711
951,832 10.131,256
969,779
1,136,473 1,125.296 11,980,610
*1,209,125 *1,162,940 13,188,494
32,557
38,505
44.884
44,900
57,864
401,122 3,868,984
357,385 4,080,989
380,525 4,139,958
615,273
455,520
538,551
*77,300
01,747
70,800
68,967
1889 I” '.... ..................... (296 m.).
88,808
1800..
...................(298 m.).
88.950
1891*......................................(298m.)..
V ir g in ia M id la n d —
133,269
1888 ... .........................
144,362
1889
..................... SSSm,)c” 168,256
1890 ................................( * * ln'H
1891*.............
,..(355 m.).. 175.300
W e s te rn N o rth C a r o l i n a 50,674
1888................................
72,467
1889............................... .
1891.
(296 m.)
R o m e W a t e r t o w n & Ogd’ b u rg —
291,588
361,888
328,005
63,036
72,002
*79.130
291,231
321,871
300,011
267,368 3,358,104
301,041 3,580,106
304,457 8,945,182
82,108
106,023
123,578
106,422
949,307
104.287 1,110,426
125,426 1,336,910
323,695
454,995
437,477
354,860 3.050,423
488,846 3,876,199
437,700 c4,102,143
540,075
568,798
027,191
535,506 5,778,251
604,232 6,052.951
583,032 6,606,272
118.487
125,788
142,304
88,590 1,524,918
90,905 1.301,986
115,430 1,494,224
940,337
1,221,396
1,370,649
858,129 9,281,834
730,042 8.733,693
974.943 10,135,816
668,974
8«7,128
c972,601
3,977,693 46,699,614
3.702,884 40.343,208
4,010,695 48,201,995.
650,287
765,261
720,431
058,871 0,374,386
819,469 6,917,803
702,766 7.327,710
2,723.240
2,809.408
3,99?, 124
30,195.521
31,070,18*
543049248
344,243
419,086
457.745
277,635
355,339
430,007
@FedFRASER