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ELECTRIC RAILWAY
SECTION
OF THE
COMMERCIAL & FINANCIAL CHRONICLE.
Entered according to Act of Congress in the year 1908, by WILLIAM B. DANA COMPANY,in Office of Librarian af Congress, Washington, D.0
Vol. 87.
NEW YORK, SEPT. 26, 1908.
ELECTRIC RAILWAY SECTION.
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New York.
INTERURBAN LINES IN INDIANA.
Ohio has considerably more electric railroad mileage than any other State in the Union, and Pennsylvania, New York, Illinois and Massachusetts
follow in the order named, although the race between
Illinois and Massachusetts is so close that the precedence varies from year to year. Indiana comes
next, and yet the interurban lines in that State
may fairly be said to be more important than the
interurban lines in any equal area in the world.
Excluding entirely the lines in towns and cities,
there are 1,539 miles of interurban road in Indiana,
and no other State is served so thoroughly by its
through trolley lines. In Ohio, the interurban
development is continuous along the northern and
western borders, but the southern and eastern borders
are very little served, and the development in the
center of the State is practically confined to the
group of lines radiating from Columbus and extending to Zanesville on the east, Chillicothe on the south,
Marion on the north and to Springfield, Dayton and
Cincinnati on the west and southwest. In Indiana,
however, with the exception of the comparatively
undeveloped area in the south and in the southwest,
the entire State is very fully served.
Indianapolis is the great trolley center in Indiana
and the lines reaching out from this center are so
inter-connected that there is almost no isolated
electric mileage in the State. In consequence of
this characteristic of development, the Fort Wayne
& Wabash Valley Traction Company has one through
run 137 miles long, on which the cars make an average
No. 2257.
speed of over 31 miles an hour, including stops, and
another through run of 114 miles, on which the
average running time is 28.6 miles an hour. There
are four other through runs within the State which
are over 40 miles long and on which the average speed
of the cars is faster than 26 miles an hour, including
stops; and this fast, long-distance traffic, carried
at rates slightly below those of the steam railroads
operating in the same territory, has apparently not
yet reached its limit.
In the early days of interurban development it was
assumed that 25 miles was about the limit of through
trolley service which could really get traffic away
from steam railroad competition. But by improving
the equipment and the road, with careful attention
paid to signaling devices and to the principles of
sound railroad operation, it has been• possible to
make great progress in accelerating services, and the
limited electric cars in the Central States now find
that by cutting out unimportant stops they can
approximate the time of accommodation trains on
the steam roads, while possessing the well-known
advantage of superior convenience to the traveler.
Regarding the respective importance of city traffic
and of interurban traffic on some of these lines which
do an important amount of both, certain figures have
been obtained which are of considerable importance.
The Fort Wayne & Wabash Valley Traction Company
may be assumed as a typical case of a prosperous
line on which receipts from the two kinds of traffic
are somewhere nearly equal. The system was 177
miles long in 1907, and of this total 100 miles was
interurban and the remainder was urban, located
in the cities of Fort Wayne, Wabash, Peru, Logansport and Lafayette. The company earned approximately $600,000 gross from its 77 miles of city lines,
or about $7,792 a mile. From its interurban lines
it earned about $400,000, or just about $4,000 a
mile. The General Manager believes that the limit
to the possibilities of competition with the steam
railroads is not yet in sight, and he says that his
company now does the bulk of the passenger business
between Fort Wayne and Indianapolis, 137 miles.
Scrutinizing more carefully the way in which these
interurban earnings come in, it is noteworthy that
between 75 and 80 per cent of the interurban earnings of the company is derived from hauls of 20 miles
or more. The total run from Fort Wayne to Indianapolis takes four hours and 25 minutes, and four
2
ELECTRIC RAILWAYS
cars make this run each day, the service practically
paralleling the Lake Erie & Western Railroad. The
fastest train on the steam road takes three hours and
a half for the same run, while the accommodation
trains take four hours. The fare between Fort
Wayne and Indianapolis on the electric cars is $2 45,
and the steam railroad makes the same fare, but
only applicable on what is known as its twin tickets.
The rate applies when these two tickets are bought
together, and they are good for ten days in either
direction, by one or by two persons.
The Fort Wayne & Wabash Valley Traction Company's 114-mile limited service between Fort Wayne
and Lafayette, Ind., which is run in four hours,
competes with the Wabash, which has the same
ticket arrangement that the Lake Erie & Western
has and meets the trolley fare of $2 25.
The Kokomo Marion & Western Traction Company,
has had a somewhat different experience. This line
operates 40 miles of track and has one through run
30 miles long, the best schedule time for which is
one hour and 15 minutes, with cars run every hour
and a half. The fare is 45 cents on the trolley road,
and the Toledo St. Louis & Western, its steam competitor, charges 65 cents for the same trip. Owing
to the circumstances of the competition, however,
the Kokomo Marion & Western Company reports
that perhaps 3 per cent of the gross earnings are
derived from through traffic over this entire run of
30 miles. It is noteworthy that only a very. small portion of this company's gross earnings is derived from
business done entirely within the city limits, and the
remainder—or some 82- per cent of the total—is
interurban business picked up along the route. This
is one of the few cases where the interurban business
strongly overshadows the city business, since the
reverse of this situation is usually found. The
company operates a quarter of its total mileage in the
city of Kokomo, but gets not more than a twentieth
of its gross ear4ings from this source.
A glance at the finances of the Indiana interurban
lines as a group suggests strongly the conclusion
that the general public is more of a gainer from these
fast, long-distance trolley runs than the electric
lines themselves are. For example, the great company which centers in and around Indianapolis,
operating 368 miles of track and reaching four parks
and amusement resorts, earned over $2,000,000
gross in 1907 (calendar year); but carried forward a
net surplus of only $20,000 from the year's operation, after paying operating expenses, interest and
the dividends required on underlying stocks. Gross
earnings of the entire Indianapolis group of trolley
lines—and indeed of almost all the trolley lines in
the country—have behaved extremely well during
this year of depression and have, as a rule, shown
small increases where their steam competitors were
showing large decreases. But it must be remembered
that when a steam railroad competes with a trolley
line it can, if necessary, regard its passenger traffic
as a by-product on a system supported by freight
traffic. The trolley lines have no such opportunity.
Their transportation of light freight and express
goods has been developed in some localities with
much care, but the total figures from it are not very
great. If a trolley road cannot live on its passenger
traffic, it cannot live at all, unless the company
[VOL. LXXXVIL
which controls it has other sources of income entirely
separate from it, such as light and power plants, and
is in a position to recoup itself, in whole or in part, by
the sale of the electricity which may be its principal
stock in trade. Cases where this is possible are rare,
however, and it seems clear that the important gains
in gross earnings are in many instances bringing no
compensating return to the owners of the property,
because working expenses are being allowed to eat
them up.
There is no reason why the interurban lines of the
country should not be a thoroughly sound and profitable part of its transportation system. They have
become indispensable means of communication to a
tremendously large number of people in the last ten
years, and have built up the suburban communities
and connected settlements that were hitherto almost
deprived of communication. But it seems quite
plain that they have been performing this service too
cheaply, and the indications are that the trend of
interurban rates in the next decade will be, and ought
to be, higher.
THE CLEVELAND PLAN IN OPERATION.
Some months ago we published a full discussion of
the extraordinary street railway situation in Cleveland,
Ohio, following the political campaign of Mayor Tom
L. Johnson and his final victory at the polls, and the
capitulation of the electric railway in the face of
disaster (Street Railway Section, Feb. 1908). That
discussion, however, dealt with the arguments and
facts of the seven-year warfare between the Mayor
and the street railway company. The situation now
has changed, and it is possible to study the actual
workings of Mayor Johnson's remarkable holding
company, as compared with those of the Cleveland
Electric Railway in its former status. In pursuit of
this study two quite useful documents are at hand;
one, a commentary on the situation which Professor
Bemis publishes in the "Quarterly Journal of Economics" for August; the other, the current record of
events which the street railway papers have compiled.
It will be recalled that Professor E. W. Bemis,
Superintendent of the Cleveland Water Works, was
a member of the National Civic Federation Committee
which reported on municipal and private operation
of public utilities; he was also one of the arbitrators
appointed to value the unexpired franchises of the
Cleveland Electric Railway Co, in determining the
payment which the holding company was to make for
them. A thorough-going advocate of municipal
ownership and a firm believer in Mayor Johnson's
plan, he is able to throw a good deal of plausibility
about a bad case, although, as is quite commonly
true of municipalization advocates, his arguments at
critical points tend to rest rather on unproved theory
than on any facts based upon experience. Nevertheless, Professor Bemis's discussion is important, and
represents, perhaps, as clear and plausible a defense
of the Mayor's side of the case as could be inade.
In order to comment intelligently on this paper,the
salient points at issue must be kept clearly in 'hind.
It should be remembered that street railway franchises
in Ohio can be granted only for 25 years; that the old
company, known as the Cleveland Electric Railway
Co., operated until April 1908 224 miles of track in
the streets and highways of Cleveland and the adjacent
SEPT., 1908..I
ELECTRIC RAILWAYS
3
suburban territory, and had secured franchises at was obtained by an equally
ingenious method of
various times which were to expire at varying intervals weighting the diverse franchises
which existed. For
in the future. It should be remembered also that each route the remaining life of the franchise
, reduced,
Mayor Johnson was,first elected in 1901, largely on the in years, to five decimal points from
Jan. 1 1908, was
strength of his promise to the voters to secure for them multiplied by the present yearly
earnings of the line.
a 3-cent fare, and that in the fall of 1907 he was elected Then, to obtain the average life of two
franchises, the
to serve his fourth consecutive term as Mayor on the total earnings of the two lines was
worked out in this
same ticket. The Mayor's plan of battle was to secure way for the period of
the grant, and was divided by
the organization of two competing companies, which the sum of the yearly earnings,
giving a final figure
found routes along streets not already occupied by the of average years of franchise life duly
weighted with
existing company, where this was possible, and were • earnings.
enabled to get into the heart of the city through the
Having thus found a way to estimate franchise value
operation of . an old Ohio law and by early street and to average the franchise
lives of a number of lines,
railway legislation in Cleveland which specified by agreement between
the arbitrators an annual inthat any company having eight miles of track could crease in net income of
6% per year was assumed, and
•obtain permission from the City Council to use the the physical value was
increased 3% per year to take
•tracks, overhead construction and power, in certain .care of the increase of
traffic. In this .way the
congested districts in the heart of the city, known as franchise value for each
succeeding year was the net
neutral territory, on payment of a rental fixed by the. income, less 6% on the new
physical value; and this
council.
process was continued up to the close of the average
Some of the companies that had obtained franchises franchise life.
to run cars at three cents had been forced out of busiProfessor Bemis notes that this is substantially the
ness by the courts, but the Forest City Railway Co. method which he used in valuing the
Detroit Street Ry.
and the Low Fare Co. remained, and figured largely in franchises for the city and company in
1899. But it is
the final year of contest. The Forest City Railway obvious that the assumed rate of annual
growth is
Co. was leased July 3 1906 to the Municipal Traction absolutely hypothetical, and the assumed
charge for
Co., and the Municipal Traction Co., by a traffic taking care of this growth guesswor
k; moreover, it is
agreement, operated cars on the tracks of the Low also surmise that the
physical property should be
Fare Co. To induce investment in the three-cent allowed 6% before franchise
valud is calculated; we
companies which he was fostering, Mayor Johnson, in say surmise, for it rests
on the absurd assumption that
connection with the editor of the "Cleveland Press," investors in any street
railway enterprise would be
guaranteed 6% dividends on their stock, and, accord- willing to take all the risks
of a hypothetical value for
ing to Professor Bemis, important financial help was a mere promise of 6% return
limited to 6%; we hardly
also given by Mr. B. T. Cable.
need add that Professor Bemis's philosophic and
These low-fare companies, at the time of Mayor elaborate guesswork is that
of the buyer who has the
Johnson's re-election in 1907, were operating 16 miles seller entirely at his mercy.
of their own track, with the additional trackage rights
On April 28 1908 the day following the lease, the,
preyiously mentioned. After the election, when the street car lines carried
all-comers free. On April 29
Cleveland Electric Railway Co. realized that the fight 3-cent fares were charged
on all lines within the
was hopeless, it finally agreed to allow its property to city limits. For the first
ten days no transfers at all
be taken over as of Jan. 1 1908 by the Municipal were given, and great
dissatisfaction resulted. Then
Traction Co. and it was arranged that the Forest City a cent was charged for transfers,
but the dissatisfaction
and Low Fare companies should be taken over in the was in no way decreased
, because, owing to changes in
same general holding scheme, the price for all three the routing, most
of the passengers were paying just
to be fixed by arbitration.
as much for their transportation as they were before
Without going into all the cumbersome details of *he Municipal Traction
Co. assumed control, and some
the arrangements, it is sufficient to note that this of them were paying a great
deal more. Therefore,
arbitration provided for a physical valuation of the beginning July 28, transfers were
given free within the
property in 12 parcels, each parcel appraised by an city.
expert, and supplemented by a valuation of the
Professor Bemis evidently believes that the residents
franchise rights and the value of the company as a of the city have received
a great boon in the transporgoing concern. In the end, after protracted discus- tation which the Municipal
Traction Co. is furnishing
sion, the amount finally paid to the Cleveland Electric to them, but the
general evidence is all the other
Railway Co. was $22,184,131, of which $15,034,614 way, and it is interestin
g to note the comparisons of
was apportioned to the physical valuation and the services, old and new, which
are being made by accurbalance was paid on account of franchise value and ate observers. To start
with, the new company had
good will.
a severe strike on its hands in May, and the service
Professor Bemis's method of appraising franchise was absolutely disorganized.
To replace the strikers,
value is of interest and is worthy of a paragraph, in strike-breakers were not used,
but green trainmen
passing. According to Professor Bemis's receipt, it is were put in, and the citizens
naturally had to pay in-necessary first to appraise the "physical" value of the discomfort for the experience
which these men received.
property. He then assumes that the company is Since May the service has
been exceedingly inefficient.
entitled to 6% interest on this physical value. After There has. been extensive
re-routing. One of the
this 6% on the appraised value is deducted from the electric papers complains that
no cars are now operated
net income for a given year, the balance of the net directly from the downtow
n section of Cleveland to
income is considered to represent the franchise value Euclid Beach. It is also pointed
out that on account
for the year in question. The average franchise period of a fare reduction required by
the court in accordance
4
ELECTRIC RAILWAYS
[VOL. Lxxxvil.
with one of the original grants, the company finds long after public attention has become diffused,
itself unable to charge a 5-cent fare to East Cleveland and the result then will simply be that the Cleveland
as it had begun to do; consequently, it has reduced the traction company will be in the hands of a close
service to one car every ten minutes, and the citizens corporation, accountable to no one but its handful
of East Cleveland going to and from work in of director-stockholders, instead of being subject
Cleveland are left to shift for themselves as best they to the ordinary forms of corporate control and
publicity, which long years of experiment have
can.
Wherever branch lines are unprofitable, the demonstrated to be the best way yet discovered of
Municipal Traction Company is reducing service administering great properties.
The Municipal Traction Company has not been
on them to the lowest possible limit; that is to say,
thus far. At the outset Mayor Johnson
prosperous
con3-cent
by
a
on
profit
fares
show
to
trying
it is
centrating its business on the short runs where 3-cent claimed a loss of -10 to 20 per cent in fares, or $1,000
fares can be made to pay expenses, and is neglecting to $1,500 per day, due to the slowness of the conthe longer runs, which are of considerable more im- ductors in making change; consequently on August 13
portance to the travelling public. The green train- the company began charging a flat 5-cent fare, but
men are ignorant about routes and conditions of sold five metal checks for 15 cents, each check being
transfers, there are fewer cars run, and these cars .good for one ride. It is apparent that this clever
stop at fewer points, so that the daily annoyance device made it easy for the company to get a great
and inconvenience of the service is even greater many 5-cent fares from persons who did not care
in some respects than it was during the years of acute whether they paid five or three cents. Beginning
Sept. 1 another change was made, the charge for a
warfare between the companies.
The city of Cleveland is not authorized to own or single cash fare being fixed at 3 cents, but it being
operate its street railways. The Municipal Traction required that the passenger must have the exact
Company is, hence, an extreme type of holding change. In May the operating deficit was $23,829
company, which is naturally supposed to be affiliated and in June it was $54,917, in spite of the fact that
with the city government, since it is the creation no free transfers were in use during these months. In
of Mayor Johnson. As a matter of fact, however, July a profit of $19,686 was reported, with four days
it is a purely private corporation, has no connection of free transfers. Professor Bemis estimates that
whatever with the -city of Cleveland, and the city free transfers will reduce the receipts 10 per cent, or
has no hold on. any surplus earnings that may remain $35,000 a month, which should pile up a very subafter the provisions of the leases have been satisfied. stantial deficit.
If the Municipal Traction Company is unable to
The company has only $10,000 of capital stock
authorized, of which only $1,000 has been paid in, meet its engagements and if its insolvency extends
and the directors, at the time of the lease (April over a period of 11 months, then the underlying
27), held the entire stock. Professor Bemis acknowl- companies, that is to say, the Cleveland Electric
edges frankly that there is apparently no legal way in Railway and the Low Fare and Forest City lines,
which this self-perpetuated board of directors can be will obtain what has been referred to in the concompelled to limit the dividends it may declare on its troversy as the security franchise, which will enable
$10,000 of stock, or be prevented from increasing them to operate on substantially the old basis. The
that stock, or from paying excessive salaries, or whole 'natter, however, is now to go to a referendum
charging fares as high as five cents and six tickets of the voters. On September 5 the Cleveland City
for 25 cents.• That is to say, after the seven years' Council passed a resolution fixing October 22d as the
war the result is that the street railway industry of date for a special election at which this franchise is
Cleveland has been transferred from one set of private to be submitted to popular vote. It will be interesting
will succeed
individuals to another set of private individuals, to observe whether or not Mayor Johnson
away from
properties
these
of
operation
in
the
keeping
occupresent
with the important difference that the
on hand
cash
the
that
probable
is
their
It
owners.
and
pants of the directorate are self-perpetuating
will
tide the
loans
temporary
make
to
and
the
ability
say
to
control absolutely the situation. It is fair
a
for
time;
along
but,
Company
Traction
Municipal
directorate
that the character of the Men now on the
to
yet
has
it
demonstrate
vote,
popular
the
is
whatever
with
attention
which public
and the intensity
fixed on the operation of the street railways make it that it can give a decent service, or any other kind
improbable that any improper use will, for the present, of service, with three-cent fares and free transfers, and
be made with this power; but the power will remain make a profit.
ELECTRIC RAILWAYS.
SECURITIES AND REPORTS.
This is one of our four Sections or Supplements. In using the series it is to be remembered that they are inter-dependent
publications, complete only as a whole. If utilized together, and with the fresh items of news the "Chronicle" contains from
week to week, the investor will have all the information he needs in seeking a safe and remunerative lodgment for his money.
Street and Electric Railways forcibly illustrate this inter-dependence. Such roads obviously rely for their income, and
therefore in great part for the value of their securities, upon the population and activity of the country they serve. Hence
constant reference to our "State and City" section will be found necessary by those wishing to purchase the stocks and bonds
of street roads. Population, assessed valuation, tax rate, total debts of the counties, cities and minor municipalities are
given at length in that publication, every one of which items is an essential fact contributing more or less to any correct
estimate of the amount of suburban travel a given road commands.
The abbreviations used in our Electric Railway statements will be found explained in a table immediately following the
last statement in this publication.
A full Index, which shows where each railway will be found, is also given on the closing pages.
REPORT.-For calendar years (1907 report in V. 86, p 335):
ABERDEEN, WASHINGTON.
Gross.
Net.
Charges. Surplus.
GRAYS HARBOR RAILWAY & LIGHT CO.
1907 (214.53 miles of track) __$1,909,061 $813,306 $513,242 $300,064
1,703,340
track)__
696,498
483,174
1906
of
(204.12
miles
213,324
ORGANIZATION.-In 1906 we were advised that franchises were all
654,140
471,503
182,637
for 50 years and had been granted within 4 years preceding that date. 1905 (202.62 miles of track)__ 1,552,970
Out of tile $300,064 surplus for 1907,dividends of $158,778 (2%) were
Owns about 87 acres of land and 25 lots. Operates an electric-light plant
paid, leaving $141,286.
In Aberdeen and another in Hoquiam.
OFFICERS.-Pres., H. A. Everett, Cleveland, 0.; 1st V.-P., Will
STOCKS AND BONDS- Date.
Interest. Outstanding. Maturity.
Christy, Akron; 2d V.-P. and Gen. Mgr., Chas. Currie, Akron; Tress.. J. R.
Stock,$500,000 _
$500,000
, C. F. Moore, Akron. Gen. offices, Akron.-V.84,
500,000 April 1 1936 Nutt, Cleveland; Seel,
First mortgage, $500,000.1 1906
6 g A-0
gold ($1,000)
c* Interest at Cit. Say. & Tr. Co., Cleveland, p. 221, 337, 1248, 1488; V. 85, p. 601; V. 86, p. 230, 335; V. 87, p. 545.
Trustee, or First National Bk., NewYork.
Bonds.-A sinking fund sufficient to retire 2% of the bonds annually at
ALBANY, N. Y.
105 and interest begins April 1 1911. Bonds are subject to call on any
interest date upon 60 days' notice at 105 and interest. See V. 83, p. 155.
UNITED TRACTION.-A trolley road.
$193,744;
net,
after
taxes,
1907,
gross,
year
EARNINGS.-For calendar
The entire stock of this company is owned by The Delaware & Hudson
$88,471; interest, $24,719; surplus, $63,752. In 1006, gross, $150,072; net,
Co. V. 81, p. 1552; V. 82, p. 160. The D. do H. also owns the Troy do
$75,145; interest. $21,069; surplus, $54,076.
New England and the Plattsburgh Traction, and has acquired a half Interest
ROAD.-Operates 1131 miles of track in and between Aberdeen, Ho- In the Schenectady By.. the New York Central owning the other half.
quiam and Cosmopolls.
ORGANIZATION.-Chartered Dec. 30 1599 as a consolidation of the
OFFICERS.-Pres., Geo. F. Stone, Seattle; V.-P., J. B. Bridges; Sec. Albany
By. (chartered in 1863). the Watervliet Turnpike and RR. (charJay D.'Crary, Aberdeen; Treas., R. C. White; Comp., Minor D. Crary.- tered in 1828) and the Troy City By.(chartered Jan. 311866). See V. 69,
V. 83. p. 155; V. 86, p. 420.
p. 1147, 1300; V. 70, p. 77. Has contract with Hudson River Electric Co.
of Albany for supply of power. V. 69, p. 541, 909. The Capitol Ry. was
AKRON, OHIO.
organized May 1 1891 to secure franchise rights on certain streets in Albany.
The United Traction leases these rights. Franchises In Troy and Albany,
NORTHERN OHIO TRACTION & LIUHT CO.-Trolley.
except that of the Capitol Ry. on Delaware Ave. (a short line on the
ORGANIZATION.-Incorporated in Ohio as successor in Nov. 1902 to outskirts of Albany), which expires Aug.
8 1951, are said to be perpetual.
the Northern Ohio Traction Co., having exchanged its securities for the V. 79, p. 2698. Has traffic agreement with Albany & Hudson RR. Co.
of
the
latter
per
733.
In
preferred
stock
terms
in
V.
75,
p.
common and
and the Schenectady By. Co., by which these roads obtain entrance into
June 1906 we were informed that franchises then had an average of 17 years Albany and Troy.
to run. Later in same year took over control of the Canton-Akron Consol.
The Cohoes City By. was sold at foreclosure in 1904 and reorganized as
By., and guarantees that company's $2,500,000 consol. 5s, prin. and int. Cohoes Ry. Co. with
$120,000 stock and $84,000 bonds: $119,000 of the
V. 83, p. 435, 849. Also owns entire capital stock of the Akron Wadsworth stock and all of'
the bonds of the new company are deposited with the Central
do Western Traction Co. and guarantees its bonds, prin. and int. In Sept. Trust Co. of New York as security for bonds of the Albany By.
1907 Northern Ohio Trac. do Light shareholders were offered $1,000,000 of
Acquisition of Hudson Volley.-In Dec. 1906 acquired a majority of the
new stock at *20 per share, payable 25% each Sept. 20, Oct. 20, Nov. 20 stock and bonds of the Hudson Valley By. Co., and increased Its own
and Dec. 20. This new stock is included in total below.
stock from $5,000,000 to $12,500,000 to finance the purchase. V. 84, p. 52.
Interest. Outstanding. Maturity.
STOCK AND BONDSInterest. Outstandiney. Last dtv..otc
STOCK AND BONDS- Date.
Date.
Common stock, $10,000,000 -__
2 Q-M15 $8,940,000 Dc 15'0 X % Stock (par $100) $12,500,000_
$12,500,000 J ly '08,2%
4 J-J
(par $100)
Debentures, $456,000, gold 1901 4 t4 g 1.1-N
456,000 May 1 1919
Ak Bed & Cley 1st M, $300,- 1805
300,000 Sept 1 1915
5 g M-S
($1,000)
_r Int. at Nat. Commercial Bank, Albany.
000 ($1,000);M covers27.4m Interest at Central Tr. Co., N. Y., Trustee. Cons mort, $6,500,000, gold 1904 434 g J-D
2,588,000 June 1 2004
5 g J-J
$2,700,000 July 1 1919
Northern Ohio Traction, mon( 1899
($1,000)
c* Int. at Central Trust Co., N. Y.. Trustee.
Bonds.-Of the consol. mtge. of 1904. $3,912,000 is reserved to retire prior
g, $3,000,000 ($1,000)...c*i Interest at Central Trust Co. N. Y., Trustee;
or Dime Savings & Banking Co., Cleveland liens. No sk, Id. and bonds are not subject to call. Directors may fix rate of
2,800,000 Jan 1 1933 interest, but not exceeding 6%; present issue is at 4 X %. The debentures
Northern Ohio Traction dol 1903 4&5 g J-J
Light 1st consol. ($1,000).}Int. at Cit. Savings & Tr. Co. Cleve., trus- may be called on any interest date on three months' notice at"a 5% interest
c*j tee, or at First Nat. Bank.
'
New York.
gold, $7,500,000
rate for the unexpired term as calculated in standard interest tables."
6Q M
$600,000 Sept 1 1909 V. 73, p. 1113.
Col Tr Cou Notes ($1,000) _..1 1906
lint. at Cit. Say. do Tr. Co., Cleve., Trustee.
SECURITIES OF ALBANY RAILWAY.
5g
See text July 1 1933
Ak. Wads ec West mortgage,1 1906
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$500,000 guar ($1,000)- - -I
5 M-S
mortgage
1888
$32,000 Sept 1 1913
Fifth
Bonds.-Of the $3,000,000 Northern Ohio Traction bonds. $300,000 are Consol M ($500,000), gold 1890
5 g J-J
428,000 Jan 1 1930
reserved to retire the Ak Bed do Clev. gen. mtge. of 1895. Bonds listed
Central
Trust
Co., New York.
c*
Interest
at
($1,000)
on Philadelphia Stock Exchange in Oct. 1901. Of the $7,500,000 Northern General mortgage, $750,000, 1897
5 g J-D
496,000 June 1 1947
Ohio Traction & Light consols. $3,000,000 are reserved to retire the North.
gold
Central Trust Co., New York, Trustee.
Ohio Traction .bonds and $1,700,000 are held for future requirements;
Leased line securities$1,000,000 are 5s, all outstanding; the rest 4s. The coupon notes are se- Wat T & RR1889 6 11-N
$350,000 May 1 1919
cured by pledge of $400,000 Nor. Ohio Trac. & Lt. 4s, $335,000 Can.-Akr.
1st M int guar
Boston Safe Dep. Co. & Tr. Co., Boston, Tr.
Ak.
Wads.
$200,000
are
redeemable
beand
&.West.
5s.
They
Cons. Ry. 5s
M.
2nd
p
&
1890
6
M-N
150,000 May 1 1919
int
guar
fore Sept. 1 1907 at 101; up to Sept. 1 1908 at 100 Y.,and thereafter at 100 X.
Metropolitan Trust Co., N. Y.Trustee.
See V. 83, p. 819, 891.
The Albany Ry. gen. mort. of 1897 was for $750,000, of which $254,000
was reserved, but consolidation makes reservation inoperative.
Canton-Akron Consolidated Railway.
Date.
Interest, Outstanding. Maturity.
STOCK AND BONDSSECURITIES OF TROY CITY RAILWAY.
5 g J-J
$1,025,000 Jan 1 1933
Consol M $2,500,000, goid.1 1906
guaranteed by Northern 0}Int. at Cit. Say. & Tr. Co., Cleve., Trustee.
Date.
Interest. Outstanding. 2tfaturitv.
Traction & Light
J or First Nat. Bank, New York.
Troy City 1st con M,g,$2.-1
1892
5 g A-0
$2,000,000 Oct 11042
5 g M-S
1,150,000 Mch 1 1922
Canton-Akron 1st mortgaged 1902
c*&rf Tnterest paid by Trustee. Central Trust Co.N.Y.
000,000
$2,000,000, g ($1,000) _ -c* Int. at Knickerbocker Tr. Co., N.Y., Trustee
The Troy City leased roads include Troy & Cohoes, stock $50,000, divi5 g M-N
850,000 May 1 1920 dends under lease 7 %; Lansingburg & Cohoes, stock $15,000, dividends
Canton-Massillon 1st mort'ge,( 1900
i Interest at Cleveland Trust Co., trustee, or under lease, 7%; Troy & Lansingburg, stock $700,000, owned by Troy
$1,000,000, g, ($1,000)
( at Standard Trust Co., New York.
City Ry.; total $765,000. The Waterford ea Cohoes RR., $25,000 stock.
1st NI Can do N P,$1,000,000, 1903
5 g F-A
565,000 Feb 1 1923 receives 7% yearly under lease.
gold ($1,000)
c* Int. at Am. Loan & Tr. Co., Boston, Trustee.
DIVIDENDS.-FIrst quarterly dividend, 1j%,was paid May 1, 1900;
6 g J-D
Tus RR 1st M, $100,000 1896
11016
June
100,000
($500), gold
int. at Cleveland Tr. Co.. Cleve., 0.,Trustee. sync rate continued up to and including July 1906. For quarter ending
two months ending Dec. 1906 1% was
1890
5 M-N
Tus Elec Co 1st M
100,000 May 11010 Oct. 1006 134% was paid and forincreased
from $5,000,000 to $12,500,000
pall. On Dcc. 31 1906 stock was
Int. at Say. & Tr. Co., Cleveland, Trustee.
5 g M-N
Can-Ak 2d NI, $300,000 1906
300,000 May 1 1909 ;rid dIvIdends made semi-annual (J-J) and 2% paid July 1 1907, 2%
Int. at Cit. Say. & Tr. Co., Cleve., Trustee. Jan. 1 1908 and 2% July 1 1908.
($1,000), gold
5 J-J
__
ROAD.-Operates 92 86 miles of track,of which 74.49 miles owned, conLake V L & I mortgage
See text
61,000
Bonds.-01 the $2,500,000
new bonds, $500,000 are reserved to retire necting Albany, Troy, Cohoes, Rensselaer, Watervliet. Lansingburg,
_the Tus. RR. and Tus. Elec. Co. issues, and Can.-Ak. 2d mtge. bonds. Green Island, Waterford, etc. Has 434 cars, including 13 snow-plows, 9
Of the $2,000,000 Canton-Akron 1st mtges., $850,000 are reserved to retire sweepers and 12 service cars. Carries express and light freight. Stand.
•
the Canton-Massillon bonds. Neither Issue subject to call. The Canton- aid ge,e.
ANNUAL REPORT-Years ending June 30th:
Akron By. 2d 5s are subject to call as a whole on any interest date at 101
1
1907.
1908.
1908.
1907.
and interest. The Canton-New Philadelphia bonds may be called as a
$839,773 $860,688
whole at 105 and interest on 3 months' notice. The Lake View L. d: I. Gross earns __$1,998,237 $1,956,441 Total net _
349,925
386,556
Oper. exp_ ___ 1,305,446 .1,187,7351Fixed charges
bonds mature $2,000 annually to 1915, when whole issue falls due.
768,7061Div._ _•(4%)500,000*(4.916)437,485
692,791
Dividends.-Dividends were begun in 1906 by the declaration of 2%. Net
73,278
91,982 'Balance, sur__
x46,783
146,982
payable in installments of X % from June 15 1906. V. 82, p. 1213. In Other income_
• Includes dividends payable July 1 1908 and July 1 1907, respectively.
1907 2% was again declared, payable in quarterly installments from June
x Deficit.
15 1907. In 1008, June, M %. Rate then reduced, and declared Sept.
X %; Dec., X%.
OFFICERS.-Pres., L. F. Loree, New York; 1st V.-P.; C. S. Sims; 2d.
PLANT.-Including Canton Akron Consol. By., operated on Jan. 1 1908 V.-P., W. H. Williams, New York: Sec. and Treas., James McCredle, Al214.53 miles of track. Line extends from Cleveland through Akron, Can- bany; Auditor, A. J. Gies; Gen. Mgr. Edgar S. Fassett; Supt., Chas. R.
Uhrichsville
in
Tuscarawas County Smith' Traffic Mgr., Chas. H. Armatage; Compt.. W. H. Davies. Princiton, Massillon and New Philadelphia to
with branches to Ravenna (via Kent), to Wadsworth (via Barbertqn) and pal office, Albany.-V. 83, p. 1381; V. 84, p. 932, 1368, 1429.
to East Gteenville from Massillon. Owns Lakeside Park in Akron and
(1) Hudson Valley Raliway.-A trolley road.
Meyers Lake Park in Canton. Also owns 1,011 acres of coal land in Noble
In Dec. 1906 a majority of the stock and bonds was acquired by the
County. Ralls, 50, 56, 70 and 80-lb. T and 73-lb. girder, standard-gauge;
operates 276 cars and 7 snow-plows and sweepers. Embraces electric-light United Traction Co of Albany. V. 84, p. 51.
ORGANIZATION.-Incorporated Aug. 15 1901 as a consolidation of the
systems of Akron and Barberton.
LATEST EARNINGS.-For 6 mos. ending June 30 1908, gross, $838,742 Glen's Falls, Sandy Hill do Fort Edward Street Ry., Warren County Electric
net, $320,085; charges, $261,163; surplus, $58,922; In 1907, gross, $849,256; Ry., Stillwater & Mechanicyllie Street By., Greenwich & Schuvierville
Street By. Co.. Saratoga 'fraction Co.,and Saratvga l'orthern By., th
•
net, $335,852; charges, $252,735; surplus, $83,117.
6
ELECTRIC RAILWAYS.
oapital stock of these roads being exchanged for stock In the new company.
See "Chronicle," V. 73, p. 391. Carries freight and express as well as
'passengers. 80% private right of way. Franchises are all perpetual.
Owns all the stock ($200,000) and all the bonds ($300,000) of the North
River Ry., a road operated in Saratoga by this company.
In 1908 part of the consol. 5s were converted into debentures in accordance with a plan for the re-adjustment of the company's finances. V. 83,
p. 1040. In March 1906 created $2,500,000 preferred stock to provide for
the convertible feature of the debenture "Bs." V. 82, p. 751.
STOCK AND BONDS.Date.
Interest. Outstanding. Maturity.
Common,$3,000,000, par $100 ___
$3,000,000
Preferred ($2,500,000 (seel
See text.
text), 5% non-cumulativef
First consolidated mortgage) 1901 5 g J-J
2,222.000 July 1 1951
$4,000,000 (denomination )Interest at Manufacturers' Nat. Bank, Troy.
mom gold)
c*) May be called at 110 & int. on any Int. date.
Collateral trust $650,000
1906
5g
$500,000 Mch 1 1911
Deb."A" Income $700,000...... 1906
5g
474,000 Jan 1 1951
Deb."B" Income $2,500,000_ 1906
2g
2,500,000 Jan 1 1951
Underlying LiensGFSH &FEfirstld (no op)), 1891
6 J-J
100,000 July 1 1911
$560 and $1,000) gold_ _ _ _c(Central Trust Co., New York, Trustee.
do 2d M ($500) gold.. c.1 1893
6 J-J
50.000 July 1 1913
lint. at Merchants' Nat. Bank, Glens Falls.
do 3d M ($150,000) ___ i 1901
6 A-0
82,000 April 1 1921
May be called at 100 on April 1 1902.
Still & Mech first mortgage__ 1893
47,500 April 1 1913
6 A-0
Bank of D. Powers & Sons, Troy, N. Y.. Tr.
do consol mortgage 1898
do
6 A-0
202.500 April 1 1913
$250,000
jGlens Falls Trust Co., Glens Falls, Trustee.
Bonds.-Of the $4,000,000 mortgage of 1901, $482,000 is set aside for
prior liens and $1,290,000 have been deposited as collateral for the,collateral
trust 5s. The debenture "B" bonds are convertible into preferred stock
from March 1 1908 to 1917, inclusive. Up to Sept. 1 1908 none had been
so converted. Collateral trust 5s are redeemable at par and interest on
30 days' notice. Interest on the debenture "A" and "B" bonds Is neither
cumulative nor obligatory.
REPORT.-For fiscal year ending June 30 1908, gross, $634,307; net.
$174,706; fixed charges, $315,377; deficit, $40,671.
. ROAD.-Main line extends from Troy northward along the Hud•
son through the villages and towns of Waterford, Mechanicville, Stillwater, Schu,ylervIlle, Tnemson, Fort Edward, Sandy Hill, Glens Falls
and Caldwell to Warrensburg. The Saratoga Division, which branches off
the main line at Mechanleville, provides a line from Troy to Round Lake.
Ballston Spa and Saratoga, with a branch from Saratoga Springs to Glens
Falls, via South Glens Falls, which branch was completed in June 1903.
There is also a branch line from Saratoga Springs to Kaydeross Park on
Saratoga Lake and another from Thomson to Greenwich. Total main line,
76.53 miles, and branch lines, 39.54 miles; second track, 3.58 miles; sidings,
7.40 miles; making a total of 127.03 mlles of track. Rails, 80,70 and 80.1b.
T and 140-1b. girder. Standard gauge. Operates 102 passenger cars, 7
snow-plows, 2 electric locomotives and 7 express cars. Company owns
Kaydeross Park, at Saratoga Lake: Ondawa Park, between Greenwich and
Thomson; Fort William Henry Park and the new Fort William Henry Hotel
at Lake George.-V.83, p. 155, 213, 1098;1V. 84, P. 51, 1386.
ALLENTOWN, PA.
•
LEHIGH VALLEY TRANSIT CO.-A trolley road.
ORGANIZATION.-Incorporated in Pennsylvania on Nov. 3 1905 and
Is a reorganization under foreclosure of the Lehigh Valley Traction Co., the
Philadelphia & Lehigh Valley Traction, the Allentown & Slatington and
the Copley Egypt & Ironton Street By., as per plan in V. 79, p. 733. 1462.
Under agreement made in July 1907 cars of the Lehigh Valley Transit
have their Philadelphia terminal in the Philadelphia Rapid Transit station
at Chestnut H111. V. 85, p. 99. In 1908 started through trolley freight
service between Allentown and Philadelphia.
Also leases the Quakertown Traction Co. for $13,000 per annum.
Owns the following stocks and leases:
Cap. stock.
Name of Company-Owned. Total issue
Allentown Electric Light & Power Co.(common)
$150,000 $150,000
do
do
(preferred)
do
do
10,000
150,000
Quakertown Traction Co
375,000
300,000
*Chestnut Hill & Springhouse Turnpike Road Co
69,300
70,000
Slatington Power Co
50,000
50,000
Rittersville Hotel Co
100,000
100,000
Allentown & South Allentown St. By
All
(?)
Allentown & South Allentown Bridge Co
All
(?)
Lease of Allentown & Coopersburg Turnpike Co.
Lease of Bethlehem & Nazareth Passenger Railway Co.; lease Is for 999
years at 5% on stock and bonds.
By ownership of a majority of the stock of the Allentown Electric Light &
Power Co. and all the stock of the Slatington Power Co., it controls the
business of the following light, heat and power companies:
Allentown Electric Light & Power Co.
Bethlehem Electric Light Co.
1Leased to the Allentown Electric
South Bethlehem Elec. Light Co.j Light & Power Co.
Slatington Power Co.
Citizens' Elec. Light, Heating & Power Co.1Leased to the Slatington
of Slatington and Walnutport
_ j Power Co.
* Property condemned and company about to liquidate.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Common,$3,000,000, par $50_
$3,000,000
Preferred, $5,000,000. par $501
5.000,000
5%,cum. after Nov 3 1910
First mortgage, 35,000,0001 1905 4-5 g M-S
4,700,000 Dec 1 1035
gold $1,000)
c Guaranty Trust Co., New York, Trustee.
Consol mortgage, $7,500,000, 1005 4-5 g JD
2,040,000 Dec 1 1935
Lehigh Valley Tr. & S. D. Co., Allentown,Tr.
gold ($1,000)
Quakertown Traction first N/1 1901 5 g M-S
300,000 Sept 1 1931
$300,000 gold. $100. $300,}Int. at Commonwealth Tr. Co., Harrisburg,
500, $1,000)
c*1 Trustee. Can be called at 105 and interest
Beth & Nazar St By stock
150,000 5% guar
Bonds
5 M-N
150,000 May 1 1029
The Lehigh Valley Transit has agreed to guar. the int. on $500.000 bonds
of the Allentown & South Allentown Bridge Co. V. 85, p. 40. The latter
have not yet been issued.
Stock.-Stock (both classes) is held in a voting trust for three years from
Nov. 3 1905.
Bonds.-Of the $5,000,000 first mtge., $2,770,000 bear 4% interest and
are all out and $2,330,000 are 5s. $300,000 of these bonds are reserved
to take up the $300,000 Quakertown Traction bonds. See V. 82, p. 628.
Interest at Brown Bros. ea Co., Philadelphia. Of the $7,500,000 consols,
$2,500,000 are 4s and the other $5,000,000 5s. The latter are reserved to
retire the first mtge. The first mtge. bonds are redeemable on any interest
date, the 4s at 105 and the 55 at 110. Interest on the consol, bonds is
payable at the company's office or at office of Brown Bros. & Co., Phila.
These bonds are not subject to call.
ROAD.-Owns 107 miles of road and 14.5 miles of second track, connecting Allentown, Bethlehem, South Bethlehem, Hellertown, Nazareth,
Stegfrieds, Copley, Catasauqua, Egypt, Emaus, Macungie, Slatington,
Quakertown, Perkasie, Lansdale, Ambler and Philadelphia. Leases 10
miles and controls 10.5 miles through stock ownership. Total operated,
142 mlies. A 1,700-ft. bridge between Allentown and South Allentown is
to be built by the controlled Allen. & South Allen, Bridge Co. In July
1908 entered Into an operating agreement with Slate Belt Electric RR.,
by which it operates over latter company's tracks from Nazareth to Bangor.
Cars are run from latter point to Portland. connecting there with Del. Lack.
& West. for Delaware Water Gap.
REPORT.-For fiscal year ending Nov. 30 1907: Gross, $1,031,561;
net, $400,277; fixed charges, $380,262; surplus, $40,015. In 1906, gross,
$1,077,880; net, $415,357; fixed charges, $317,874; surplus, $97,483.
OFFICERS.-Pres., R. P. Stevens; V.-P., John C. Dawson; Sec. and
Treas., Chas. N. Wagner And. C. 31. Walter.-V.83, p. 96, 1347; V. 84.
p. 1248; V. 85, p. 40, 99; V. 86. p. 795. 918.
ALLENTOWN & READING TRACI ION CO -A trolley road.
ORGANIZATION.-Incorporated April 25 1898, and leased the Allentown & Reading Electric Street Ry. for 390 years from June 4 1898. On
Feb. 6 1902 leased for 300 years the Kutztown & Fleetwood Street Ry.
Controls the Kutztown Light, Heat & Power Co. Connects with United
[VOL. Lxxxvii.
Traction Co. tracks from Reading, thus forminga through line from Allentriwn to Reading.
STOCK AND BONDS.
Date.
Interest. Outstanding. Maturity.
Stock, $750,000, $50
*250,000
First mortgage, $250,000, 1900 5 g J-J
250,000 July 1 1930
gold, $100,$500 and $1 ,000J Interest at Fidelity Trust Co., Phila., Trustee
First M Kutztown& Flectw'dl 1902 5 g J-J
200,000 Jan 1 1932
$200,000, guaranteed p & I
First consol mtge 3750,0001 1902 5 g J-J
300,000 July 1 19'32
gold ($500 & $1,000)....c&r Int.at Integ.Titie Ins.&
Loans and notes payable June 30 1907
68,645
Bonds.-Of the $750,000 of new consols, $450,000 are reserved to retire
prior liens. They are subject to call at par after July 1 1917; no sinking
fund. The first mortgage bonds are redeemable after July 1 1910 at par.
EARNINGS.-For year ending Dec. 31 1907, gross, $164,478; net, $52.726. In 1906, gross, $175,063; net, $73,912.
ROAD.-Operates 39.60 miles main line,7.50 miles sidings-total,47.10
miles; 42 cars.
OFFICERS.-Pres., H. E. Ahrens, Reading; V.-P., S. K. Hoffman,
Hamburg; Sec , Asa R. Beers, Mauch Chunk; Treas., Geo, B. Schaeffer,
Reading; Supt., I. S. Ruth, Allentown.-V.81. p. 1492; V. 82, p. 216.
AMSTERDAM, N. Y.
AMSTERDAM STREET RR.-Thls road, together with the Cuyadutta
Electric By.. was consolidated in Dec. 1002 with the Fonda Johnstown 45G
Gloversville RR. See statement of the latter in "Railway and Industrial
Section."
ANDERSON, IND.
INDIANA UNION TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated in Indiana on June 9 1903. Leases
Union Traction Co. of Indiana from June 30 1903 for 999 years. For terms
see that company below. In Dec. 1905 acquired the Indiana Northern
Traction Co., subject to $500,000 mtge., prin. and int. of which is guaranteed by Indiana Union Trac. Co. V. 81, p. 1848. In April 1906 acquired
entire corn. stock ($500,000) of the Muncie Hartf. ea Ft. W. Ry. V. 82, p.
805, 869, 1041. In June 1906 leased that company, and in addition to operating exp., int. on bonds, &c.. pays a rental equivalent to 5% on its
$500,000 cumulative preferred stock. See V. 83, p. 98. In Juno 1906
acquired the road of the Muncie & Union City Traction Co. from Union City
to !Muncie. Owns the company's entire $500,000 stock and guarantees its
bonds, principal and interest. V. 83, p. 96.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS.
$4,990,000
Stock, $5,000,000 ($100)
5 g A-0
1,250,000 July 1 1933
First mortgage $5,000,000 1903
c* Interest at Girard Trust Co., Phila., Trustee.
31,000) gold
5 g A-0
500,000 Oct 1 1933
Indiana North Trac first mtge 1903
Trenton
}Interest
(N.
J.) Trust & Safe Deat
'$500,000 gold ($100, $500
and $1,000) guar
c*1 posit Co., Trustee.
1 ,000,000 Jan 1 1935
5 g J-J
M H & Ft W first mortgage1 1905
$1,000,000 gold ($1,000)c* Int. at Guard. Sav.& Tr.Co.,Cleve., Trustee.
925,000 July 1 1936
Mun & Un C NI $925,000 1906
5 g J-J
guaranteed gold ($1,000)c* Int. at Fidelity Trust Co., Phila., Trustee.
Bonds.-Of the $5,000,000 bonds of 1903, $3,750,000 are reserved for
extensions and improvements, but can only be issued when net earnings are
1% times interest charges on outstanding bonds over and above rental
payments to Union Traction Co. Sinking fund, 1 g % per annum of outstanding bonds, became operatIve on July 1 1904. Fund is to be Invested
In the bonds at not above 105 and interest, and bonds may be drawn for
the sinking fund at that price, but are not otherwise subject to call until
after July 1 1908, when all may be redeemed at 105 and interest on any
interest day. The Indiana Northern Traction bonds are subject to call at
105 and interest on six weeks' notice. V.82, p. 805. The Muncie Hartford
& Fort Wayne bonds can be called Jan. 1 1935, or after, at par. A sinking
fund on those bonds of 234 % of gross earnings per annum began July 1 1905,
See V. 80, p. 1059. The Muncie & Union City bonds are subject to call
after five years at 105; are guaranteed, principal and interest, by Indiana
Union Traction Co.
Stock.-Ltsted on Philadelphia Stock Exchange In May 1905.
EARNINGS.-For the calendar year 1907 were: Gross, $2,089,233; net,
$978,034; fixed charges, including dividends on stocks of Union Traction of
Indiana and Muncie Hartford & Ft. Wayne By., $958,011; surplus, $20,022. In 1906, gross. $1,943,101; net, $947,835.
ROAD.-Besides the city lines in Marion, Anderson, Muncie, Alexandria and Elwood, owns an interurban road from Anderson (via Linwood,
Alexandria, Summitville, Fairmount, Jonesboro, Gas City and Soldiers'
Home) to Marion, with a branch from Alexandria (via Orestes and Dundee)
to Elwood, and from Elwood to Tipton: also an interurban line from
Muncie, via Yorktown, Daleville, Chesterfield, Anderson, Pendleton,
Ingalls, Fortville, McCordsville and Lawrence. to Indianapolis; also an
interurban line from Logansport, via Kokomo, Tipton, Atlanta, Arcadia,
Cicero, Noblesville, Carmel, Broad Ripple, to Indianapolis, and from Peru
to Kokomo; total track aggregates 210 miles of interurban and 50 miles of
city lines, standard gauge. Also a line from Anderson to Middletown.
10 miles, put in operation Aug. 1, 1905; likewise Ind. North. Trac. 20 miles
of track between Marion and Wabash,also Muncie Hartf. & Ft. Wayne Ry..
44 miles, from Muncie to Bluffton, via Eaton, Hartford City, Montpelier,
Keystone and Poneto and Mun. & Union City, 34 miles, from Union
City to Muncie; total. 368 miles of track. Through cars are run between
Indianapolis and Fort Wayne in conjunction with the Ft. Wayne &
Wabash Valley Traction Co. V. 83, p. 1102. Provides package freight
service between Indianapolis and Muncle and Indianapolis and Logansport and Peru, and to all other points on the system. Operates through
freight service between Indianapolis and Ft. Wayne. By contract until
Nov. 1933 cars are run over tracks of Indianapolis Street By. in Indianapolis. A large central power station, with necessary storage batteries, at
Anderson, operated on a three-phase system, with 19 sub-stations likewise
equipped with storage batteries, operates entire system.
EQUIPMENT.-98 city cars. 81 interurban cars. 19 express cars and
112 service cars: total, 310.
OFFICERS.-Pres., A. W. Brady, Anderson; 1st V.-P., J. Levering•
Jones, Phila.; 2d V.-P.. W. Kesley Schoept, Cincinnati; Sec. and Treas..
H. A. Nicholl. General offices
Wm. H. Forse Jr., Anderson; Gen.
Mgr.,83. 12.• 37, 99, 388; V. 86, p. 421;
and transfer offices, Anderson, Ind.-(V.
V. 87, p. 226.
(1) Union Traction Co. of Indiana.-A trolley road.
ORGANIZATION.-IncorPorated May 28 1903 as a consolidation of the
Unlon Traction Company of Indiana (incorporated on June 21 1899) and
the Indianapolis Northern Traction Co. (incorporated in April 1903).
On consolidation a 70% stock dividend was paid to Union Traction shareholders, calling for $3,500,000 additional common stock. V. 76, p. 1302.
Leased June 30 1903 to the newly formed Indiana Union Traction Co.
for 999 years. Original lease provided for dividends on the common stock
of the Union Traction Co. (In addition to fixed charges and 5% on the preferred stock), but this lease was modifled'by vote of stockholders of both
companies June 15 1904. The lease, as modified, provides for 5% on Union
Traction Co. pref. stock and dividends on corn. ranging from 1% to 0%,
based on gross earnings of all properties operated by lessee, except properties
leased after June 15 1904. V. 79, p. 3455. In July 1908 notice was given
that gross earnings for year ending June 30 1908 dld not amount to $1,850.000, and therefore no rental payment based on gross earnings for such
period would be payable. V. 87, p. 327. Franchises are generally for 50
years.
The Indianapolis Northern Traction assumed payment of principal and
interest of half ($200,000) of the bonds on the Broad Ripple Traction Co..
and also half of the interest of the remaining $200,000 bonds for 10 years
from May 11003. See V. 78, IL 1167.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Common, $7,500.000 ($100).- - --$7.503,000 Jan'08.2-3%
5 AO
1,000,000 Oct'08,2
Pt.5%.cum.$1,000,000 MOW --6 g J-J
Anderson Elec St 1st mtg. gl 1892
150.000 July 1 1912
$1,000 each), assumed_ _ _el Int. at Farm. L. & T. Co., Trustee, N. Y. C.
Citizens 1st mtg, $250,000,) 1897
138,000 Dec 1 1927
6 g J-D
s f, subject to call at 105,}Interest at Guar. Trust & Safe Deposit Co..
Philadelphia, Trustee.
denom $500 and $1,000_0*
8 g M-N
Marion City 1st mtg, $400,- 1895
358,000 May 1 1915
000, gold ($1,000)
c Interest at Mercantile Nat. Bank, N. Y.
5 g J-J
1st gen mtg, $5,000,000, gold1 1809
4,350.000 July 1 1919
($1,000)
c&r* Int. at Trust Co. of Amer., N. Y., Trustee.
Indianapolls Nor Trac 1st 1902
5 g J-J
5,000,000 July 1 1932
mtg $5,000,000, g ($1,000),}Interest at Trust Co. of America, New York,
guar p and I by Un Trac_c*) Trustee.
7
ELECTRIC RAILWAYS
SEPT., 1908.1
Stock and Bonds.-Of the $5,000,000 general mortgage, $650 ,000 ale
reserved for underlying bonds. See V. 71, p. 1013. Common and pref.
stock and gen. mortgage bonds are listed on Philadelphia Stock Exchange.
Pref. stock is redeemable after Dec. 15 1910 at par and unpaid dividends.
on 30 days' notice.
Diridends.-Pref. stock of Union Tract. Co. dates from Jan. 1 1901.
First div. Oct. 1 1901 (for 9 mos., Jan. 1 to Sept. 30), 334 %;in 1902, 1903.
%; Oct., 234%. On
1904, 1905, 1906 and 1907, 5%. In 1908, April,
corn. have been: in 1903, July, 1%;in 1'904, Jan., %;July, 1%. In 1907,
Jan., Si%;July, 4%. In 1908, Jan., 2-3%. None paid July (see V. 87,
p. 227).-V. 84 p. 52, 340; V. 85, p.347; V.86, p. 1591; V.87, p. 227, 286.
and $50,000 pref. stock and $300,000 bonds, for purpose, among other
things, of acquiring $200,000 stock of Ashland Light, Power & Street By.
Co. Officers of former company are: Pres., A. E. Appleyard; Sec, I. S.
Smith. V.87, p. 479.
On June 8 1908 control changed hands and new directors, representing
interests identical with Ashland Power Co., were elected.
ORGANIZATION.-Chartered in Feb. 1896 as successor to Ashland
Lighting & Street By. Owns exclusive electric light and gas rights in city
and bonds cover lighting plant.
In June 1908 the new interests voted to Issue $450,000 bonds to provide
funds for extension of street car lines and building of a new gas plant. Up
to Sept. 1908 application had not been made to State RR. Comm. for
authority_ to issue same.
ANDERSON,5.0.
STOCK AND BONDSte
es
standing. Maturity.
Stock, $300.000 ($100)
------ -------------$200,000
-A
trolley
ION
road.
CO.
TRACT
ANDERSON
1st mtge, $150,000, goldi 1896
5 g J-J
90,000 Jan 2 1916
Receivership.-On March 4 1908 Judge Klugh at Abbeville, S. C., in the
($1,000). s f. red 104___ _elInt. at Old Colony Tr. Co.. Boston, Trustee.
State Court appointed Edwin W. Robertson of Columbia and Robert E.
EARNINGS.-Fiscal year ending May 31 1907, net, $19,221; year endLigon of Anderson receivers on application of Anderson Machine & Foundry ing May 31 1906, net. $17,593.
Co.(V. 86, p. 601) but on April 16 1908 Federal Judge Prichard at Asheville
ROAD.-Operates 6 miles of trolley track.-V.87, p. 479.
took jurisdiction on complaint of International Trust Co. of Maryland and
named the two receivers above together with Frank R. Frost. V.86, p.1158.
ASHTABULA, OHIO.
ORGANIZATION.-Incorporated in South Carolina in 1904. Company
ASHTABULA RAPID TRANSIT CO is understood to have created a mortgage for $163,000 to International
In Feb. 1907 control of this road was acquired by L. A. Robison. Pres.
Trust Co. of Maryland.
of the Penn. & Ohio Ry., and associates, and officers were elected as below.
Date of
STOCK AND BONDSDate. Div. Rate %. Outstand'g. Last Died. As a preliminary to consolidation of the two roads, which is to be effected
in 1909, stock was In Aug. 1907 increased from $150,000 to $500,000.
Stock.$280,000 ($100)
.
$163,000
ORGANIZATION.-Chartered Oct. 7 1890.
ROAD.-Operates 8 miles of railroad in and around Anderson; in 1907
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
put in operation a 10-mile extension to Belton. Total track, 18 miles. Stock, $500,000
$500,000
It is planned further to extend the road to Greenville, S. C.
1st mtge. $75,000, gold.i 1891
75,000 July 1 1911
6 g J-J
OFFICERS.-Pres. and Treas., Robert E. Ligon.-V. 82, p. 99; V. 83,
($1,000)
c*&rjInt. at Central Trust Co., Trustee, N. Y. 0.
p. 93: V. 86, p. 601, 1158.
2d mtge,$500,000
M-S
1907
'1927
175,000
Bonds.-$75.000 2d mtge. bonds are reserved for prior liens and $250,000
are in treasury of company.
EARNINGS.-Year ending Dec. 31 1907. gross, $72,189; net, $28,124.
ANNISTON, ALA.
ROAD.-Operates 5 miles of track on 5 miles of street.
ANNISTON ELECTRIC & GAS CO OFFICERS.-Pres., L. A. Robison, Pittsburgh; Treas., E. W. Savage,
ORGANIZATION.-Incorporated in New Jersey in 1899 to take over Ashtabula; Sec., Wyn B. Morris, Pittsburgh; Gen. Supt., Palmer Ward
the Anniston Electric Co. and the Oxford Lake Line, sold at foreclosure man, Ashtabula.-V.85. p. 468.
August 1890; also acquired at receivers' sale the Anniston Gas & Light Co.
General Electric Co. Interested.
PENNSYLVANIA & OHIO RY.-A trolley road.
The same interests control the Ashtabula Rapid Transit Co. It is
Interest. Outstanding. MaturitY.
STOCK AND BONDS- Date.
planned to merge the two roads.
$250,000
Stock, $250,000 ($100)-ORGANIZATION.-Incorporated March 17 1898. In April 1906 con1st mtge, $300,000 0100,1 1899
300,000 Dec 1 1929
5 g J-D
$500) gold
c*JInt. at Bait. Safe Dept. & Tr. Co., Trustee. trol was purchased by L. A. Robison, Gen. Pass. Agt. of Pittsb. & Lake
Bonds.-Entlre Issue may be called after 5 years. at 105 and Interest. Erie RR. See V. 82, 13. 929. 987.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Sinking fund of 1 % of bonds outstanding becomes operative on Dec. 1
$1,300,000
1905, but to be available for bond redemptions only if the money cannot be Stock ($100),$1,600,000 auth
gold,
1901
5
g M-S
$600,000
1st
mtge
600,000 Mch 15 1921
of
permanent
acquisition
extensions
"for
the
employed
advantageously
lint. at Citizens' Say. & Tr. Co., Clev., Trus.
$500 each
• and additions."
1902
5
($500),
g
M-S
Division
100,000 Mob 15 1922
Jefferson
EARNINGS.-For calendar year 1907, gross, $146,399; net, after taxes,
, Int. at Citizens' Say. & Tr. Co.. Clev., Trus.
$100,000
$49,155; fixed charges, $21,162; surplus, $27,993. In 1906, gross, $130,- Gen.
5 g M-S
200,000 Sept 15 1926
mtge., $900,000, gold 1906
759; net, after taxes, $41,864.
c Int. at Citizens' Say. & Tr. Co., Clev., Trus.
($500)
ROAD.-Operates 10 miles of road from Anniston to Oxford Lake, inBonds.-01 the new gen. mtge. bonds, $700,000 are reserved to retire
cluding 5 miles of track on city streets.
prior liens.
EARNINGS.-For calendar year 1907, gross, $122,742; net, $60,475.
OFFICERS.-Pres., S. Z. Mitchell, New York; V.-P., J. Howard Hanson; Sec. and Treas., H. M. Francis, New York; Gen. Mgr., R. L. Rand, In 1006, gross, $115,825; net, $57,000.
ROAD.-Owns and operates the Conneaut city line, 4 miles, and has
Anniston.-V. 68, p. 928; V. 69, p. 283.
built westward from Conneaut to Kingsville & Ashtabula, 14 miles, and
south from Ashtabula to Jefferson, 10 miles; total, 28 miles. A through
ASBURY PARK, N. J.
line between Cleveland, 0., and Erie, Pa., Is now In operation, of which
this road forms a part.
ATLANTIC COAST ELECTRIC RY.-Trolley.
OFFICERS.-Pres., L. A. Robison, Pittsb.; Sec., W. B. Morris, Pittsb.;
ORGANIZATION.-Incorporated in New Jersey on Dec. 8 1905 as Treas., B. B. Seymour. Office at Ashtabula.-V. 82, p. 929, 987.
successor to the Atlantic Coast Elec.Railroad Co.,sold under foreclosure of
the general mortgage of the latter. Leases the Seashore Electric By. of
ASTORIA, OREGON.
Asbury Park until June 6 1037 at $10,000 per year and owns $150,000 of the
$200,000 total capital stock of latter company (making net rental $2,500),
ASTORIA ELECTRIC CO.-A trolley road.
and owns all of the stock of the West h:nd & Long Branch By. and of the
ORGANIZATION.-Incorporated in Oregon March 12 1901, and Is a
Asbury Park & Sea Girt RR., the former is leased from Aug. 3 1896 until reorganization of the Astoria Street Railway, sold at foreclosure on July 2
July 17 1945 at a nominal rental, and the latter for 99 years at 6% on stock 1900. In March 1902 acquired the West Shore Mills Co. electric light plant
-from Aug. 27 1898; both stock and bonds of Asb. Park & S. G. are owned. and also the Astoria Gas Light Co. Now does all the electric power,
Also entire stock ($100,000) of the Atlantic Coast Electric Light Co., which electric light and gas business of Astoria, and also has city contract.
supplies the electric lights of Asbury Park, Allenhurst, Belmar, Ocean
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
Beach, Como and Spring Lake. The Seacoast Traction Co. (capital Stock, $300,000 ($100)
$300,000
$100,000), running from Belmar to Spring Lake, 2 miles, has been leased 1st mtge.,$150,000 ($500)..
1902
150.000 April 1 1922
6 A-0
to the Atlantic Coast Electric By. for 99 years; its stock and bonds are
Security Savings & Trust Co.,Portland, trustee.
owned. Franchise In Belmar expires in 1947; in Asbury Park in 1937; in
Bonds.-Subject to call at any time at 105.
Long Branch, some expire in 1945 and others are perpetual; in Ocean TownEARNINGS.-For fiscal year ending March 1 1908, gross, $116,760; net
ship, perpetual; in Sea Girt, expire in 1915, 1926 and 1956; franchises of after taxes, $43,913; fixed charges,$9,000;surplus,$34,913.
Seacoast Traction Co. are perpetual.
ROAD.-Operates 5 miles of track and 10 cars.
OFFICERS.-Pres., S. Z. Mitchell, New York; V.-P., S. S. Gordon,
Interest. Outstanding. Maturity.
STOCK AND BONDS.Date.
Stock $1,000,000 MOW $1,000,000 In 1907 6% Astoria; Sec. & Treas., C. N. Huggins, Portland, Ore.; Mgr., D. F. McGee.
5 g M•N
800,000 May 1 1945
1st mt.rtgage gold $1,000,- 1895
Int. at Knickerbocker Tr. Co., N. Ir. Trus.
000
ATCHISON, KANSAS.
5 g J-J
1 1045
980,000 July'
,Gen mtge $1,000,000 gold 1906
ATCHISON RY. LIGHT h POWER CO.
($1,000)
c Interest at Central Trust Co., N. Y., Trustee.
ORGANIZATION.-Successor in 1895 of the Atchison Ry. Elec. L & P.
200.000
Seashore El Ry stock
Co. Controls electric railway, lighting and gas properties of Atchison.
Seashore Electric By 1st{ 1892
200.000
6 g J-J
1917
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
mortgage $200,000
Int. at Seacoast Nat'l Bank,Asbury Pk.,N.J.
Common, $500,000
$500,000
Subject to call at 105 in 1897.
$400,000
Preferred,
400,000 See text.
7%,
Coast
Elec
Lt
lst}
241,000 June 1 1945
Atlantic
5 J-D
Atch By Lt & Pow 1st mtge.) 1895
150,000 July 1 1915
6 g J-J
mtge $500,000 gold. Sub- Int. at Federal Trust Co., Newark, N. J.
gold, $1,000, Int. at Exch.'Trustee. Mercantile Trust Co., New York
Morton Trust Co., N. Y., Trustee.
ject to call at 105 In 1901._
Nat
Bank,
Atchison
1
City.
Bonds.-Of the $1,000,000 firsts, $200,000 are reserved to retire a like
Dividends.-Seven per cent per annum is being paid on preferred stock.
amount of Seashore Ry. Os, subject to call at 105 in 1897. Entire bonds
ROAD.-Operates 834 miles of track.
and stock of the Asbury Park & Sea Girt ($50,000 each) and the Seacoast
OFFICERS -Pros., W.
Waggener; V.-P, J. P. Brown; Treas.,
Traction Co.($100,000 c .eh) are deposited under the new general mortgage. W. W. Hetherington; Supt.,P.
J. W. Waggener.-V. 81, p. 1099.
ROAD.-Belt Line in Asbury Park and extends from Asbury Park
through Long ifrarch to Pleasure Bay, about 24 miles, of which 10.12 miles
ATHENS, GA.
Is over private right of way. V. 66, p. 616. Connects at Pleasure Bay
with the New York & Long Branch Steamboat Co.
ATHENS ELECTRIC RAILWAY.-A trolley road.
ending
-Yeats
Dec. 31:
REPORT.
ORGANIZATION.-Purchased road at foreclosure sale in June 1894.
1907.
1906.
1904.
New charter granted June 1895. Has contract to furnish arc lights to city;
1905
$305,465 $289,831 $267,395 $231,142 also incandescent lamps to private parties. Franchises perpetual. Uses
Gross earnings
139,002
111,222
121,808
Operating expenses
118,387 water power for generating electricity. In Oct. 1901 purchased the property of the Tallassee Power Co. In Nov. 1902 began operating two
Net earnings from operation_ _$166.463 $178,609 $145,587 $112,755 power stations driven entirely by water wheels, and affording 2,250 horseOther income in 1907 was $910, making total net income $167,373; fixed power. In 1906 completed a steam power plant of 1.000 h. p. and made
charges, $114.477; dividends, $60,000; deficit for year, $7,104.
other additions to the generating equipment. In 1908 added 1,500 h. p. to
OFFICERS.-Pres.,S. F. Hazeirigg, N. Y.; V.-P., H. H. Rogers; Treas.. generating station.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date
H. H. Rogers Jr.; Sec., G. B. Cade; Supt., C. E. Hereth.-V, 81, p. 974.
Stock, common, $225,000_
*225,000 July'08,2;i
1435, 1722.
Stock, pref,6% cum,$50,000_
50,000 July'08.3%
6 J-J
12,000 July 1 1918
g J-J
1896
(
ASHEVILLE, N. 0.
1st It, $100,000, g ($500) -..c( Columbus Savings Bank. Columbus, Ga.,
ASHEVILLE ELECTRIC CO.
I. Trustee. Interest at Columbus or Athens.
338,000 Oct 1 1931
6 g A-0
ORGANIZATION.-Is controlled by the General Electric Co. The New 1st mortgage, $400,000 1 1901
($1,000), gold
c*( Interest at Title Guar. do Tr. Co., Atlanta,
Asheville Electric Co. Is a consolidation of the Asheville Street RR., the
Trustee, or Old Colony Trust Co., Boston.
•Intermontane RR.. the Asheville & Biltmore St. By. & Trans. Co. and the
Bonds.-Of the new bonds, entire issue, but no lesser part, may be called
Asheville Electric Co. Owns Riverside Park.
and after Oct. 1 1911 at 106 and interest; $12,000 reserved to take up
Interest. Outstanding. Maturity. on
STOCK AND BONDS- Date.
bonds; remaining $50,000 can only be issued for future extensions and
old
Common. $750,000 ($100)$532,500
additions to two-thirds of the actual cost. See V. 73, p. 1311.
Preferred, 6% cum, $162,000
162,000
Stock.-Pref. stock is subject to call Jan. 1 1908 at 110 and accumulated
M-N
$750,000
5
g
($500
1901
mtge,
andi
750,000 May 1 1941 dividends. Pref.
1st
can only be increased with the consent of three.
$1,000), gold
cs.f Int. at Old Colony Tr. Co., Boston, Trustee. fourths in amountstock
of existing pref. stock.
dividend on commonBonds.-A.s. f. of 1 % became operative on May 1 1906. Bonds subject 234%-was paid July 11906. In 1907, 5%.First
In 1908, Feb., 234%; July,
interest
and
date.
after that
to call at 106
234%.
EARNINGS.-For calendar year 1907: Gross, $270,164; net, $72,375;
REPORT.-Calendar year 1907: Gross, $110,447; net, $64,319; charges,
charges, $21,691; surplus, $20,684.
$28,831: surplus, $35,488.
ROAD.
-Owns 7.4 miles of track; 40-lb., 60-1b. and 70-1b. T rails and
-Operates
standard
12.27
ROAD.
gauge, in Asheville; Inmiles,
70-lb. girder; 12 motor cars: lighting and power plant. 4.750 h. p.
cluding second track and sidings 14.16 miles; 33 cant.
OFFICERS.-Pres.. J. Y. Carithers; V.-P., W. S. Holman; Sec. and
OFFICERS.-Pres., J. E. Rankin; V.-P., C. N. Mason, New York; Treas., W. T. Bryan; Gen. Mgr. and Purchasing Agent, C. D. Flanigen;
Sec. and Mgr., H. W. Plummer; Treas., H. M. Francis, 62 Cedar St., N. Y. Auditor, C. D. Cox; Supt., H. H. Hughes.-V. 83, p. 154.
ASHLAND, WIS.
ASHLAND LIGHT,POWER & STREET RAILWAY.-A trolley road.
On Feb. 13 1908 Ashland Power Co. was incorporated In Wisconsin and
has been authorized by Wisconsin RR. Commission to issue $50,000 corn
ATLANTA, GA.
GEORGIA RAILWAY & ELECTRIC CO ORGANIZATION.-Incorporated in Georgia on Jan. 28 1902, and on
April 1 1902 took over the Atlanta Ry. & Power Co., the Atlanta Rap.
8
1V0L. Lxxxvir.
ELECTRIC RAILWAYS
Tran. Co.. the Georgia Elec. Light Co. and the Atlanta Steam Co. Franchise perpetual. Comprises the street railway, electric light, gas, power
and steam-heating interests of Atlanta and Fulton County. Uses power
supplied by the Atlanta Water & Electric Power Co. from the latter's plant
at Bull Sluice on the _Chattahoochee River, 15 miles from Atlanta-see
V. 79, p. 153, 2149. By terms of the ordinance permitting consolidation
the company paid the city of Atlanta $50,000 in cash, and agrees to pay a
tax on gross receipts of 1 % for first 3 years, 2% for the next 20 years and
3% thereafter. V. 74. p. 397, 727. Had contract with the city for street
lighting for 5 years from April 1 1903 at $75 per arc per annum. In 1907
renewed contract for a period of five years from April 1 1908 at $60 per arc
per annum, and company at the same time agreed to make some reduction
In prices to private consumers for light and power. In Oct. 1902 both pref.
and com, stock were listed on Boston Stock Exchange. V. 75, p. 849.
In June 1903 acquired the entire capital stock ($600,000 6% preferred
and $1,014,625 common) of the Atlanta Gas Light Co.,comprising the gas
business of Atlanta and vicinity, by exchange of stock, dollar for dollar.
V.78, p. 1406. The gas company, however, maintains a separate organization. Through this exchange, United Gas Improvement acquired a substantial interest in the Georgia Railway & Electric
In March 1907 common stock was increased by $2,004,800 to $8,514,600
for the purpose of paying 33 1-3% stock dividend on common shares in
May 1907. V. 84, p 803.
Date.
STOCK AND BONDSInterest. Outstanding. Maturity.
Q-F
Common ($100)
$8,514,600 Aug 20'08.1 ;4
kreferred 5% non-cumulative
5QJ
2,400,000July20'03.1
$2,400,000 (par $100)
5 g J-J
First cons mtge $11,000,000 1902
8,100,000 Jan 1 1932
gold sink fund ($1,000)_ _c• Interest at Old Colony Trust Co., Boston, Tr.
Atlanta Street Railroad firsti 1890
6 g J-J
225,000 July 1 1920
mortgage gold (par $1,000) Unterest payable in New York at 4th Nat. Bk.
Central Trust Co. N. Y. Trustee.
5 g J-J
Atl Cons St Ry 1st cons M $2,-1 1899
2%175,00 Jan 11939
500,000 g ($1,000 each)sub }Interest payable in N. Y. at N. Y. Trust Co.
to call aft 5 yrs at 107;4_c*Jand at Mere.Tr.& Dep. Co., of Bait.,Trustee.
Georgia Elec Lt Co 1st M $2,-} 1900
5 g J-J
1,350,000 July 1 1930
000,000 gold. Subject to Interest at Old Colony Trust Co., Boston,
call in 1905 at 105
Trustee.
Atlanta Gas-Light Co, 1st M, 1897
5 g J-D
1,150,000 June 1 1947
$1,150,000, gold (51,000)c*J Interest at New York Trust Co., Trustee, or
Bank of Scotland, London, England.
Stock and Bonds.-Of the $8,514,600 com, stock reported outstanding,
$495,200 is held in treasury. Of the $11,000,000 Georgia By. & Elec.bonds,
$4,900,000 are reserved to retire underlying liens. Are subject to call on any
Int. date after Jan. 1 1907 at 110 and accrued Int. A sinking fund becomes
operative in 1907 which will retire $10,000 of bonds in each year from 1907
to 1911, inclusive; $25,000 per annum from 1912 to 1916 inclusive, and
$50,000 per annum thereafter. See V. 74, p. 629, 727. A
'
sinking fund of
$8-60 per $1,000 bond on the Atlanta Gas Light Co. bonds is operative. A
sinking fund of $25,000 per annum is also operative on the underlying bonds
of the Atlanta Consolidated Street Ry.
Dividends.-Five per cent per annum is being paid on preferred stock.
On common, Aug. 1905, 2%; Feb. 1906, 2%; May 1905 1;4 % (V. 82,
p. 10.10); Aug. 20, 1;4 70. In 1907, Feb. 20, 134 %; May
'20, 1 ;s4 % and
stock div. of 331-3% (V. 84, p. 803): Aug. 20, 1%%; Nov. 20.1;4%; In
1908, Feb., 1 X 70; May, 1;4%; Aug.. 13%.
REPORT.-See nport or 1907 in V. 68, p. 1339.
Fixed Pref.(5%) Common
Cal.
Net
Gross
Balance,
Div.
Year- Earnings. Earnings. Charges.
Dividend.
Surplus.
1907___$3,309,341 $1,646,059 $784,675 $120,000 (6%) $428.448 $312,936
1908_ 2,894,924 1,467,073 $635.837 120,000 (834) 390,949 320,487
1905_ 2,500,574 1,284,542 613,968 120,000 (2%) 120,292 430,281
ROAD.-Operates 161.108 miles of track.
.-Chairman of Board, H. M. Atkinson; Pres., Preston S.
OFFICERSArkwright; V.-P., Treas. and Gen. Mgr., G. W. Brine; V.-P., Sec. and
Mgr. Ry. Dept., W. H. Glenn.-V. 82, p. 627, 1010; V. 84. p. 570, 749,
803: V. 85, p. 40, 345; V. 86, p. 337, 480, 1339.
(1) Atlanta Northern Railway Co.-A trolley road.
ORGANIZATION.-Entire stock is owned by the Georgia Railway &
Electric
which guarantees the bonds.
Interest. Outstanding. Maturity.
Date.
STOCK
Co..
AND BONDS.
$100,000
Stock,$100,000
5 g J-J
First mortgage $400,000 guar1 1904
40(1,000 July 1 1954
($500 and $1,000) gold_ _c*f Interest at Old Colony Tr. Co., Boston, Trus.
Bonds.-Are guaranteed, principal and interest, by endorsement, by the
Georgia Railway & Electric Co. Are subject to call on any interest date
after July 1 1909 at 110 and interest. A sinking fund of $5,000 per annum
begins after 1909 See V. 79, p. 680.
EARNINGS.-In 1907, gross, $138,523; net, $45,510; charges and
taxes, $25,372; surplus, $20,138.
ROAD.-Operates 15 miles of track from Atlanta to Marietta, mostly on
private right of way. Commenced operation July 17 1905.-V. 79, p. 680.
STOCK AND BONDS.
Date.
Interest. Outstanding. Maturity.
Stock $750,000 (par $50)
.
$750,000
First mortgage ($100, $5001 1902
5 g F-A
500,000 Aug 1 1932
and $1,000)
Jlnterest at West End Trust Co., Trustee.
Ref mtg, $750,000, gold 1903
5 g F-A
250 000 Aug 1 1933
($100, $500 and $1,000)
JInt. at West End Trust Co Phila. , Trustee
1906
Car equipment bonds
27 000 -__.:-----Bonds.-Both issues are subject to call after 10 years at 105 and $500,000
of the refunding bonds are reserved to retire the prior bonds.
ROAD.-Onerates 18 miles of track from Atlantic City to Pleasantville.
Somers Point and Absecon. Rails, 80-lb. girder in towns and T in suburbs.
REPORT -Year to Dec. 31 1007, gross receipts, $65,581; net. $18,553.
OFFICERS.-Pres.. Edward R. Sponsier, Harrisburg; V.-P., A. M.
Jordan; Sec., Eli H.Chandler; Treas., C. Taylor Leland, Phila.; Gen. Man..
E. C. Folson.-V. 77, p. 1224; V. 84, p. 692, 803, 1113.
AUBURN, N. Y.
AUBURN & SYRACUSE ELECTRIC RR.-A trolley road.
ORGANIZATION.-Organized Sept. 30 1902 as a consolidation of the
Auburn City By. and Auburn Interurban Elec. RR. Franchises perpetual.
STOCK AND BONDS.
Date.
Interest, Outstanding. Maturity.
Common $1,250.000 ($100)$1,250,000
Prf 6 n cum $750,000($100) _--6 Q-J
700,000J1y 15'08,114
Auburn & Syracuse first and} 1902
5 g A-0
1,390,000 Oct 1 1942
refunding mortgage $2,- Interest at N. W.Harris & Co., New York.
000,000 gold ($1,000) __ _c* Trust Co. of America, New York, Trustee.
Bonds.-01 the $2,000,000 authorized, $610,000 is reserved for future extensions, but only when net earnings are double int. charges; subject to call
at 110 and interest on or after Oct. 1 1912. See V. 75, p. 1201
Dividends.-First dividend on preferred stock-1%- paid Nov. 1 1904,
then 1% Feb. 1 1905, May 1 1905 and Aug. 1 1905; Nov. 1 1905, 1 %
paid. (See V. 81, p. 1609.) In 1906, 531, %; in 1907,Jan., 114%; April,
1;4%; July, 134%; Oct., 114%. In 1908, Jan., 134%; Apr., 114%; July,
1;4%.
EARNINGS.-For year ending June 30 1907: Gross. $352,125; net,
$151,845; fixed charges, $86,511; dividends, $35,937; surplus, $29,397.
ROAD.-Operates about 37 miles of track, including 13 miles in Auburn
and 24 miles from Auburn to Syracuse. Has trackage agreement with
Syracuse Rapid Transit, allowing it to enter that city. Owns Lake Side
Park, about 33 acres, on Lake Owasco; 47 cars.
OFFICERS.-Pres. and Gen. Mgr. C. D. Beebe; V. P., H. S. Holden;
Treas., W. A. Holden; Sec., A. M. Michael.-V.81, p. 1609.
AUBURN & NORTHERN ELECTRIC RR.
Is one of the roads of the Beebe syndicate, controlling the Rochester
Syracuse & Eastern Elec., the Syracuse Lake Shore & Northern, the Syracuse & South Bay Electric, the Auburn & Syracuse Elec. and the Auburn
ac Northern Electric.
ORGANIZATION.-Organized in New York In 1904, In May 1907 the
New York Railroad Commissioners granted permission to increase stock
from $250,000 to $1,500,000. V. 84, p. 626. Franchises in Auburn and
Port Byron perpetual.
STOCK AND BONDSDate,
Interest. Outstanding. Maturity.
Common, $1,000,000
$10,000
Preferred, $500,000
None
First mortgage, $1,000,0001 1905
5 g M-N
(2)
May 1 1945
co'The Trust Company of America, Trustee.
($1,000) gold
Bonds.-Are subject to call on or after May 1 1915 or any interest period
thereafter on 60 days' notice at 110. No sinking fund.
ROAD.-Consists of 11 miles of track between Auburn (where It connects with the Auburn & Syracuse Elec. RR.) and Port Byron, connecting
at latter point with Rochester Syracuse & Eastern RR. 70-lb. T rail in
country; 90-lb. girder in city.
OFFICERS.-Pres., E. D. Metcalf, Auburn; V.-P. and Gen. Mgr .
C. D. Beebe, Syracuse; Sec., H. C. Beatty, Syracuse; Treas., Chas. Has
%
kins, Auburn.-V. 84, p. 626.
AUGUSTA, GA.
AUGUSTA & COLUMBIA RY.
ORGANIZATION.-Incorporated for the purpose of effecting a consolidation of the Augusta-Aiken Railway & Electric Co., North Augusta Land
Co.. North Augusta Hotel Co., Augusta Railway & Electric Co. and North
Augusta Electric & Improvement Co. Will comprise lines in and between
Augusta, Ga., and Aiken, S. C. The new company also contemplates an
extension from Aiken to Columbia, S. C. Details not yet available.
AUGUSTA-AIKEN RAILWAY & ELECTRIC CO.
The Augusta & Columbia By. has been formed to take over the various
properties controlled. V. 85. p. 220.
ORGANIZATION.-Incorporated on Jan. 3 1903 under the laws of New
Jersey. Owns $998,400 of the $1,000,000 stock of the Augusta Railway &
rlectric Co., 970,400 (out of *1,000,000) of the common and $482,400
(total issue 1500,000) of the preferred stock and $244,000 of the bonds of the
North Augusta Electric & Improvement Co., which latter company controls
ATLANTIC CITY, N. J.
the Augusta & Aiken Railway Co., the North Augusta Hotel Co. and the
ATLANTIC C1T Y & SHORE RR.-An electric road.
North Augusta Land Co.
ORGANIZATION.-Incorporated In New Jersey Oct. 21 1905 with a
STOCK AND BONDS.
Interest. Outstanding. Maturity.
Date.
perpetual charter. Owns practically all the ($250,000) stock and entire Common $1,500,000($100)$1,446,000
($40,000) bonds of Central Passenger By. Co. Leases Atlantic City & Pref ($800,000) $100 5% cum_
777,918
owns
$218,500 of the common Collateral trust *3,000,0001 1903
Ocean City RR.-see terms below-and
1,244,000 Jan 1 1953
5 J-J
stock of the Atlantic City & Ocean City Company, which holds all the stock
gold ($1,000)
c•lint. at International Tr. Co., Balt., Trustee
and bonds of the Atlantic City & Ocean City RR, V. 85, p. 158. In a
Bonds.-Are convertible in five years at option of holder, and subject to
quo warranto suit brought by the State the Superme Court of New Jersey call on any interest day on 80 days' notice at 105 and interest; $2,000,000
.April 3 1908 sustained right of company to hold a controlling interest in reserved to retire prior liens, of which $273,000 have been exchanged.
Central Passenger Ry. and also right of two companies to maintain a
REPORT.-Consolidated profit and loss statement for 6 months ending
traffic Agreement. V. 86, p. 1099.
June 30 1905: Augusta By. ec Elec., (98.44% of $32,252), profit, $31,748;
Contract with West Jersey ct Sea Shore Ftri.-A traffic agreement has Augusta & Aiken By., loss, $116; Augusta-Aiken By. & Elec. (after
allowbeen entered into with the West Jersey & Sea Shore RR, by which the ing for all charges), loss, $16,109; North Augusta Elec. .!0 Imp. loss.
Atlantic Ave. line of the latter road, running from Atlantic City to Long- $13,501; North Augusta Hotel Co.,loss, $10,104; North Augusta Larid Co..
port,8 miles, is operated by this company. The West Jersey & Sea Shore loss, $1,592; combined result, net loss, $9,674.
RR. has an option to purchase from May 1 1913 to May 1 1918 a m,ajority of
OFFICERS.-Pres., W. T. Van Brunt, New York; V.-P., James U.
the Atlantic City & Shore RR. stock. V. 85, p. 158. The new project Jackson; Gen. Mgr., James R. League; Sec. and Treas., Chas. C. Tegetholf.
has been financed by H. F. Bachman & Co. of Philadelphia.
-17. 81, p. 1722, 1790; V. 82, p. 99; V. 85. p. 220; V. 86, p. 1099.
Interest. Outstanding. • Maturity.
STOCK AND BONDS- Date.
$1.000,000
Stock $1,000,000 ($100)_
AUGUSTA RAILWAY & ELECTRIC CO.
5 g J-D
1st mtge & coil trust deed 1 1905
$850,000 Dec 1 1945
To be merged in Augusta & Columbia Ry.,which see above.
$1,000,000 ($1,000) g__ _e*fInt. at Girard Trust Co., Phila., trustee.
STOCK AND BONDS.
Date.
Interest. Outstanding. Maturity.
Bonds.-No sinking fund, but can be called at any time at 110 and int.
Stock $1,000,000 ($100)_
$1,000,000
ROAD.-Operates 47.45 miles of track in and around Atlantic City, In- Augusta By & Elec mtge gold) 1900
5 g J-D
1,000,000 June 1 1940
cluding a road through Pleasantville, Linwood and Somers Point, to Ocean
$1,000,000
_ _c•'Int. at Mer. Tr. & Dep. Co., Balt., Trustee.
City,the two latter points being connected by 2 miles of trestle and bridge
Bonds.-Gan($1,000)..be called in 10, 20 or 30 years from date at 105 and interest
City
RR.
Ocean
owned by the Atlantic City &
on 6 months' notice. Sinking fund is 14 of 1 70, beginning June 1 1905,
OFFICERS.-Pres., Wm. A. Stern; V.-P. Charles Evans; Sec., J. M. for 15 years, 1% for next 10 years and 2%
for remaining 10 years.
Campbell; Treas., Milton J. Greenebaum; Gen.Mgr. S.S. Neff.-V.85,p.158;
ROAD.-Operates 31.72 miles of track on 17 miles of street.
V. 86, p. 1099.
REPORT.-For 12 months ending Dec. 31: In 1905, gross (railway and
lighting), $288,023; net, $140,111. V. 78, p. 341.
(1) Atlantic City & Ocean City Company.
The Atlantic City & Ocean City Company was organized in DelaWare
NORTH AUGUSTA ELECTRIC & IMPROVEMENT CO.
and owns the entire ($180,000) stock and all the ($180,000) bonds of the
The newly formed Augusta & Columbia By. contemplates taking over
Atlantic City & Ocean City RR., and has pledged them as security for the
collateral trust bonds below. Of the common stock of the Atlantic City & this company.
Owns the entire stock ($300,000) and bonds ($300,000) of the North1
Ocean City Company,;218,500 is owned by the Atl. City & Shore RR. The
latter leases the AU. City & Ocean City RR. for 999 years, the rental be- Augusta Hotel Co. and entire stock ($10,000) and bonds ($500,000) of the
fog $19,000 per annum, and an additional contingent sum equal to 33 1-3% Augusta & Aiken Ry.; also owns $744,700 of the $790,400 common stock,
of the net earnings, but not to exceed $25,000 per annum, which shall be entire issue ($130,400) of preferred stock and all the $30,000 bonds of the
applicable to divs. on the pref. stock of the Atl. City & Ocean City Company. North Augusta Land Co.
STOCK AND BONDS.
H. F. Bachman & Co. of Phila. and New York offered some of the bonds
Interest, Outstanding. Maturity.
Date.
Common $1,000,000($100)$1,000,000
for sale in July 1908 with a bonus of 30% in pref. stock. V. 87, p. 165.
500,000
STOCK AND BONDSInterest. Outstanding, maturity, Pref 5% n-c $500,000 ($100)
Date.
North Augusta Elec & Inv.} 1901
Common $350,000_
1,000,000 Oct 1 1951
5 g A-0
$220,000
Co first mortgage *1,000,- International Trust Co., Baltimore, Trustee.
Pref 5 70 non-cum $250,000 _
175,000
000 gold ($1,000)
Collateral trust gold $500,-1 1907
c Interest at Augusta and Baltimore.
5 M-S
350,000 Mch 1 1947
Bonds.-Are subject to call at 105 on any interest date upon 80 days
000 redeemable 110 & int__'Girard Trust Co., Philadelphia, trustee.
notice.-V. 76, p. 918.
Stock.-The pref. stock Is redeemable at par on and after March 1 1910.
ROAD.-The Atlantic City & Ocean City RR. owns 2.02 miles of road
(1) Augusta & Aiken Ry.
from Somers Point, across Great Egg Harbor Bay. on bridge and trestles.
ORGANIZATION.-Is controlled by the North Augusta Electric & Imto Ocean City. Rails, 85 lbs. V. 85. p. 158; V. 87, p. 165.
provement Co. Stock is $10,000; bonds, $500,000 of 5% 30-year gold
bonds; interest Jan. and July, and maturing Jan. 31 1931. Bonds all deATLANTIC CITY & SUBURBAN TRACTION CO.
posited as security for North Augusta Electric & Improvement Co. bonds.
Receivership,-On May 9 1907 J. L. Clawson was appointed receiver,
REPORT.-For 12 mos. ending Dec. 31 1905: Gross, $91,753; net.
the company having defaulted Feb. 1 1907 on both issues of bonds. It is $30,800.
planned to sell the road under foreclosure early in Oct. 1908.
ROAD.-Operates 24.34 miles of track from Augusta, through ClearORGANIZATION.-Incorporated in New Jersey on July 19 1902. Owns water, Bath, Langley, Warrenville and Graniteville, to Aiken.
S. C.
and operates the Atlantic City & Pleasantville Turnpike Co.
Standard gauge, 60-lb. T rail. Opened Sept. 1 1902.
ELECTRIC RAILWAYS
SEPT., 1908.]
AUSTIN, TEX.
AUSTIN ELECTRIC RY.-A trolley road.
ORGANIZATION.-Incorporated in Texas on May 29 1902 as a reorganization of the Austin Rapid Transit Ry.
Interest. Outstanding. Maturtty.
Date.
STOCK AND BONDS.
$275,000 Feb '08,4%
Stock,$350,000 ($100)
350,000 April 1 1933
5 g A-0
'1903
First mortgage $350,000 gold.
($1,000)
fInterest at Equitable Trust Co., N. Y.,Truth
Oonds.-Are subject to call on and after April 1 1908 at 105 and interest.
Dividends.-In 1904, 10%; In 1905, 16.77%; in 1906, 5.5%; in 1907,
5%; in 1908. Feb, 4%.
EARNINGS.-For calendar year 1907: Gross. $146,670; net, $45.224.
ROAD.-Operates 15.91 miles of track. Entire road re-built in 1905.
OFFICERS.-Pres. and Gen. Mgr., W. J. Jones; V.-P., F. H. Watriss,
New York; Treas., E.P. Wilmot; Sec., Claud V. Peel.-V 78, p. 1704.
BAKERSFIELD, CAL.
POWER TRANSIT & LIGHT CO.
ORGANIZATION.-Is successor in 1903 to the Power Development Co.
the Bakersfield Gas & Electric Light Co. and the Bakersfield & Kern Electric
Ry. Does-the entire electric lighting, power, gas and street railway business
of Kern and Bakersfield. V. 77, p. 401.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS.
S e I( xt.
$2,500,000
Stock $2,500,000 ($100)
125,000 July 1 1931
5 g J-J
Bakersfield & Kern Elec. Ry.1 1903
$250,000 gold ($1,000)__of Union Trust Co., San Francisco, Trustee.
Bakersfield Gas & Elec Lt mtg ____
6 F-A 15
40,000 Periodically
778,000 June 1 1933
5 g J-D
New mortgage $2,500,000l 1903
gold ($1,000)
JMercantile Trust Co., San Francisco, Trustee.
Bonds.-Of the $2,500,000 new bonds, $175,000 are reserved for prior
liens. Bonds are subject to call any interest date "on basis of 4;4 % reinvestment." Sinking fund of 10% of net earnings after payment of
charges commences after 5 years. V. 77, p. 401. $20.559 bonds were held
in sinking fund on Aug. 31 1908. Of the Bakersfield & Kern Elec. Ry.
bonds $2,500 are held in sink. fund. Of the Bakersfield Gas & Elec.
Light Co. bonds $10,000 have been retired by sink, fund and $14,178 are
now held in same.
EARNINGS.-For fiscal year ending June 30 1908, gross, $108,920; net,
after interest and taxes, $58,685.
DIVIDENDS.-Dividends of 1% were paid in June 1904, June 1905 and
June 1906, and 2% was paid in June 1907.
ROAD.-Operates 734 miles of track between and throughout Kern and
Bakersfield. Also does electric lighting, power and gas business. Has
over 100 miles of electric power lines.
OFFICERS.-Pres.and Gen. Mgr., C. N. Beal, San Francisco; Ass't Gen.
Mgr., Jas. Goodwin, Bakersfield; Sec. and Treas., F. G. Drum, San Francisco.-V. 77, p. 401.
BALLSTON SPA, N. Y.
9
STOCK AND BONDS- Date. Interest. Outstanding. Div. or Mat'y
City & Suburban Ry.Bonds-I 1892
$3,000,000 June 1 1922
5 g J-D
1st mtge, g ($1,000)
i Int. at Alex. Brown & Sons, Baltimore.
I Safe Deposit & Trust Co. Balt., Trustee.
504)00 July 1 1916
5 J-J
Balt.Catonsv.&Elltcott's Mills{ 1896
1st mtge, $500,000, prim g_ Safe Dep. & Tr. Co., Balt.. Trustee. Int.
at National Mechanics' Bank, Baltimore.
Lake Roland Elevated-lst f 1892
1,000,000 Sept 1 1942
5 g M-S
mtge. gold ($1,000) __c*&ri Interest at Alex. Brown & Sons, Baltimore.
lBaltimore Trust & Guaranty Co., Trustee.
Baltimore City Passenger-1st( 1891
2,000.000 Nov 2 1911
5 g M-N
mtge, $1,000, gold
c*{Interest at Nat. Mechanics' Bank, Balt.
1Safe Deposit & Trust Co. of Bait., Trustee.
Baltimore City Passenger-)1897 434 g M-N
500,000 Nov 2 1911.
Certs of indebt, $500,000, Interest at National Mechanics' Bank, Baltig ($500 and $1.000)
more.
Central RV.-lst mtge, $600,-r 1882
6 J-J
14,000 July 1 1912
000, sink fund, currency.. _l Sub. to call at 100 in certain am'ts yearly.
i Trustee, Safe Dep. & Trust Co.. Baltimore.
lint. at Nat. Mech. Bk , Balt.
Consol mtge. $700,000, g,1 1892
5 g M-N
686,000 May I 1932
($1,000)
Interest at National Mechanics' Bank, Balt
Mercantile Tr. & Dep. Co. of Balt.. Trustee.
Ext and imp 1st mtge,1 1897
5 g M-S
600,000 Mch 1 1932
Balt. Trust & Guar. Co., Balt., Trustee.
$600,000, g ($1.000)
iInterest at Nat. Mechanics' Bank. Balt.
Bonds.-Of the $38,000,000 of 1st consolidated bonds, $26,450,000 have
Peen issued and $11,550,000 have been set aside for the retirement of
underlying securities. The Series "A" car trusts mature $35,000 per
annum on Oct. 1 from 1908 to 1914, both inclusive. The Series "B" car
trust bonds in above table are a first mortgage on 200 cars, and mature
$85,000 per annum from Oct. 1 1908 to 1915. They are redeemable on
any int. date at 10234 and int. V. 81, p. 32. The series "C" car trusts
were originally $390,000 and mature $39,000 annually for 10 years, and are
subject to call at 10234. They are a first mortgage on 90 cars.
Stock.-The preferred stock reported above as outstanding is all that
remains of the original issue of $14,000,000, the rest having been converted
into income bonds.
DIVIDENDS.-Dividends of 34 of 1 % were paid in June 1899 and 234 %
In Dec. 1899,and 2% each six months after that to and including Dec. 1903,
on both the income bonds and the pref. stock, the payment on the stock
(but not on the bonds) being subject to a deduction of Si of 1 % for taxes.
Payments due June and December 1904, June and December 1905 and
June 1906 omitted and in 1906 coupons for these dates were funded, as
noted above, and subsequent coupons will in like manner be funded as they
mature up to and including Dec. 1910.
ROAD.-Mlles of track, 396.192; cars, 2,004; gauge, 5 ft. 434 in. Rails,
70-lb. T and 9-in. and 113-lb. girder. Capacity of (13) generating stations,
35,305 K. IV.; capacity of (6) sub-stations, 27,000 K. W.
REPORT for the year ending Dec. 31 1907, in V. 86, p. 1096. In 1904
results were seriously affected by the Baltimore fire.
1904.
1907.
1906.
1905.
Car miles run
26,953,727 26,035,327 25,431,176 23,397,515
Revenue passengers
142,114,995 133,785,601 122,318,438 109,526,908
Transfers
55,165,581 53,413,492 49,292,821 43,932,219
Gross earnings
$7,018,081 $6,583,102 $6,023,698 $5,440,942
2,876,539
3,470,087
3,220,942
Oper. expenses
2,835,530
EASTERN NEW YORK RR.-A trolley road
Receivership.-On June 23 1908 Frederick H. Beach, Gen. Mgr., was ap
pointed receiver. July 1908 Int. on bonds having been defaulted. V. 86,
p. 1589.
ORGANIZATION.-Incorporated in New York on Dec. 12 1904 and Is
suce,.ssor to Ballston Term. RR.. sold under foreclosure on Dec. 29 1904.
Interest. Outstanding. Maturity. Net earnings
ST0CK AND BONDS- Date.
$3,547,994 $3,362,160 $3,188,168 $2,564,403
$500,000
Stock. $1,750,000 ($100)2,244,579
2,230,066
2,365,586
& taxes
2,487,942
300,000 Jan 1 1935 Fixed chgs.
5 g J-J
1st mtgc, $1,750,000 ($5001 1905
c*IMetropolltan Trust Co., N. Y., Trustee.
and $1,000), gold
$319,824
$958,102
$996,574
$1,060,052
1728.
p.
80,
Bonds -Are not subject to call. No sinking fund. V.
10,238
2,725
4,725
Other Income
6,505
ROAD.-Is both a freight and a passenger road. Owns extensive
Ballston
from
line
a
with
track,
of
miles
15
Has
Spa.
Ballston
at
terminals
$330,062
$960,827
$1,001,299
$1,066,557
to Middle Grove. Extensions were contemplated to Amsterdam, Johns- a Extraordinary expend 1,028,899
929,762
980,000
town and Gloversville, for which unissued bonds were reserved.
OFFICERS.-Pres.,T. P. Barrett, Ballston Spa.-V.86, p. 1589.
$31,065
$21,299
Balance
$37,658
BALTIMORE, MD.
Street Railways of Baltimore pay a Park Tax of 9% of gross earnings
within old City Limits, and are required to pave between tracks and two feet
on each side.
UNITED RAILWAYS & ELECTRIC CO. OP BALTIMORE.-Trolley.
ORGANIZATION.-Incorporated at Annapolis March 4 1899. Comprises all the passenger railways in Baltimore City and Baltimore County
and lines extend into Anne Arundel County and Howard County. Through
the present and previous consolidations, embraces the following:
Baltimore Catonsville & Eillcotts Central Railway Company.
Gwynn's Falls Railway of Baltimore
Mills Passenger RR.
City.
Baltimore City Passenger Ry. Co.
Maryland Traction.
Baltimore Consolidated Ry, Co.
Pimlico & Pikesville RR.
Baltimore & Curtis Bay Ry.
Balt. Gardensville & Belair Elec. By. Shore Line Electric Ry.
Baltimore & Northern Elec. Ry. Co. Walbrook Gwynn-Oak & Powhatan.
Also owns all the stock, and holds a lease, of the Baltimore Sparrows
Point & Chesapeake Ry. Co. The company likewise controls by ownership
of stock the York Road Turnpike, the Charles Street Ave. Turnpike, the
Harford Turnpike, the Balt. & Jerusalem Turnpike and the Balt. Halethorpe & Eikridge Ry.
Formerly owned the $2,000,000 common stock of the United Electric
Light & Power Co of Baltimore, comprising the electric-lighting plants of
Baltimore, but in Jan. 1903 sold the same, together with Its holdings of the
stock and bonds of the Mt. Washington Electric Co. (V. 75, p. 1158 and
V. 76, p. 160) and the same is now controlled by the Consolidated Gas,
Electric Light & Power Co. of Baltimore.
Funding of Coupons on Income Bonds.-In July 1906 unpaid coupons on
Income bonds from June 1904 to June 1906 were funded under a funding
agreement. Income coupons up to and including Dec. 1910 will also be
so exchanged at maturity, and these coupons have been stamped with this
agreement. See plan in V. 83, p. 156; $13,643,000 of the $13,945,000 have
been deposited under the plan. See V. 83, p. 753, 1038; V. 84, p. 1388.
New Allied Company.-In Aug. 1906 the Maryland Electric Ry., which
had agreed to provide funds for needed improvements and acquisitions
of the United Ry. & Elec. Co., was consolidated with the Baltimore &
Annapolis Short Line, thus forming the Maryland Elec. Rys. See statement of that company below.
Power Contract.-On June 28 1907 made a contract with the McCall's
Ferry Power Co. calling for the delivery of 10,000 kilowatts (13,500 h.p.)
(laity for 10 years. to begin Sept. 1 1908. Power Is not expected to be available until 1909. For delay on account of panic, see V. 85, p. 163, 1465.
Voting Trust.-ln March 1905 a large majority of the stock was deposited
with the Safe Deposit & Trust Co. of Baltimore, to be held in a voting trust
for 3 years from Feb. 25 1905, V. 80, p. 998, 1236. In Feb. 1908 Alex.
Brown, H. Crawford Black, F. A. Furst and Geo. C. Jenkins were requested
by holders to act as trustees under a new agreement,which is to continue
In force until May 1 1911. Under the agreement the stock deposited cannot be sold without the consent of 75% of the holders thereof, and then only
upon terms that will secure the same return for all the stock held by trustees.
See V. 86. p. 422, 549.
Isterest. Outstanding. Div.or Mart
Date.
STOCK AND BONDS.
$15,000,000
Common, $24,000,000 ($50)_
ese:.3.(
03
____
19;
55.000{ID
.,2
$14,000,000.)
4
cum.,
Preferred,
par, 150
1949
13,945,000
4 g J-D
Inc mtge, g, $14,000,0001 1899
cu m., tax free, Maryland Payable at option of Co.,after March 1 1949.
Int. at Alex. Brown & Sons, Baltimore.
Trust Co. c*($1,000)
26,450,000 Mch 1 1940
4 g M-S
1st con mtge. g, $38,000,000} 1899
01,000); Continental Trust Interest at Alex. Brown & Sons, Battlmore.
e°. Baltimore, Trustee_c*
2,520,000 June 1 1936
5 g J-D
Income fdg bonds ($100.$501 1906
and $1,000) $3,920,000_ _c
See text.
5 g A-0
245,000
Car trusts, Series "A.." $350,- 1904
Int. at Fidelity & Dep. Co., Balt., Trustee.
000, gold ($1,000) _____
See text.
680,000
5 g A-0
Car trusts, Series "B," $850,- 1905
c Int. at Safe Dep. & Tr. Co., Balt., Trustee.
000 ($1,000)
See text.
5 g A-0
312,000
Car trusts, Series "C," $390,- 1906
Int. at Safe Dep. & Tr. Co., Balt., Trustee.
000
UNDERLYING
SECURITIES.
.
5 M-N
$1,500,000 Nov 1 1929
Baltimore Traction-lst ($1,- 1889
000) mtge, Trustee Mercan-; Interest at National Mechanics' Bank, Baltitile Tr.,& Deposit Co..___cl more.
5 g J-D
1,750,000 June I 1942
N. B. Div. 1st ($1,000) 5s,f 1892
g. Trus.,Mer,Tr.&Dep.Co.c1Int. at National Mechanics' Bank. Balt.
a In 1907 and 1905 "extraordinary expenditures" were charged In their
entirety directly to income. In 1906 the "extraordinary expenditures"
amounted to $1,436,693, of which $980,000 were charged against income.
OFFICERS.-Pres., William A. House; Vice-Pres. Frank A. Furst;
Gen. Mgr., Thomas A. Cross; Sec., William Early; Acting Treas., J. H.
Windsor; Aud., N. E. Stubbs.-V.84, p. 627, 869, 993, 1115, 1368; V. 85.
p. 1463; V. 86, p. 422, 549, 920, 1096; V. 87, p. 546.
(1) Baltimore Sparrows Point & Chesapeake RY.
ORGANIZATION.-In Jan. 1903 was leased for 999 years to the Un.
Rys. & Electric Co. of Baltitnore, which guarantees the bonds below, both
as to principal and interest, and also owns all of the stock. See V. 79, p.
2643. Has 37.131 miles of track, including a line 22 miles long connecting
Baltimore with the Maryland Steel Works at Sparrow's Point, and extending beyond along the shore of Chesapeake Bay. where summer resorts have
been established. Bonds offered for sale in Jan. 1905. V. 79, p. 2643,
and V. 80, p. 221.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$400,000
Stock, $2,000 000
4;4 g F-A 2,000,000 Feb 1 1953
1st mtge., $2,000,000, gold) 1903
($1,000), guar principal Fidelity & Deposit Co., Baltimore, Trustee.
c* Interest at Alex. Brown & Sons, Baltimore.
and interest
REPORT.-Operations inc uded in United Rys. & Elec. V. 80, p. 221.
(2) Baltimore 1c Laurel Electric RY.ORGANIZATION.-Stock all owned by United Railways & Electric Co.
Incorporated in 1901 with an authorized capital stock of $250,000 to build
a line from Baltimore to Laurel, a distance of about 18 miles. No bonds.
At Laurel connection will be made with the Berwyn & Laurel Electric Co.,
which contemplates a line between Laurel and Berwyn, the latter a suburb
of Washington. Construction not yet begun.
(3) Baltimore Halethorp & Elkridge RY.
ORGANIZATION.-Majority of stock owned by United Rys. & Elec.
Co. Has made a $300,000 mtge. to Fidelity Trust Co. of Baltimore. trustee. 20-year 5% bonds, prin and int. payable at Alexander Brown & Sons.
Balt.; not guar. by United Rys. & Elec. Co. Is constructing 2.8 miles of
road.-V.87, p. 543.
THE MARYLAND ELECTRIC RAILWAYS CO.
ORGANIZATION.-In 1906 the charter of the Maryland Elec. Ry. was
acquired by interests friendly to the United Rys. & Elec. for the purpose,
among others, of using that company to finance the needs of the United Rys.
& Elec. Co., for additional property, and charter amended by Legislature in
1906 to adapt it to that purpose. In Aug. 1905 was consol. with the Baltimore & Annapolis Short Line and the electrification of the latter line was
begun. The Maryland Electric Rys. then acquired car barn sites, terminals,
&c., and is erecting buildings, constructing extensions, purchasing equipment, &c , which is leased to the United Ry. & Electric Co. for an annual
rental of 6% upon the actual cost of the property. At maturity of the
$8,000,000 bonds of The Maryland Elec. Rys., the United obligates itself
to purchase the property so leased at a sum sufficient to retire the bonds.
See plan in full in V.83, p. 156. There Is no guaranty endorsed on bonds,
but the terms are such that rental will be sufficient to pay interest. A
syndicate took $4,000,000 of the bonds. Delivery was to be made of $1,000,000 each on Oct. 1 1906, Feb. 1 1907, July 1 1907 and Jan.1 1908, but
as company was not in immediate need of funds, and in view of financial
stringency, syndicate has been taking bonds as company needs the money.
Stock listed on Baltimore Stock Exchange in Feb. 1908.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,200,000 T'ily'08, 1%
Stock, $1,200,000 ($50)
5 g A-0
3,000,000 Oct 1 1931
1st M,$8,000,000, g ($1.000),l 1906
c*J Mercantile Tr & Dep. Co., Balt., Trustee.
sink fd
5 g F-A
1 000,000 Aug 1 1946
Baltimore & Annapolis 1st{ 1906
Fidelity Trust Co., Baltimore, Trustee.
mtge. $1,000,000
Interest at Alex. Brown & Sons. Baltimore
Bonds.-A sinking fund of 1;4% on Md. Elec. By. 1st mtge. bonds out
begins Oct. 11909. Bonds are redeemable at 110 and int. on any int. date
upon 90 days' notice. Int. payable at office of Alex. Brown & Sons. See
V. 83, p. 818, 970.
Dividends -First dividend (134%) was paid In Jan. 1907 and 2% was
paid July 1 1907. In 1908, Jan. 1%; July, 1%.
ROAD.-Operates 22 miles of 'track from Cliffords to Annapolis, which
has been converted to electricity. An extension known as the St. Paul
Street Boulevard line was completed in 1907; it is leased to the United Rys.
& Elec. Co.
OFFICERS.-Pres., John Wilson Brown; Vice-Pres. and Gen Mgr.,
James F. Heyward; Sec., Geo. May; Treas., Austin McLanahan Supt.,
Sheliman B. Brown.-V.85, p. 1577; V. 86, p. 337, 1159.
10
ELECTRIC RAILWAYS
IVOL. Lxxxv .
BINGHAMTON, N. Y.
BANGOR, ME.
BANGOR RAILWAY & ELECTRIC CO.
ORGANIZATION.-Incorporated in Maine on Feb. 16 1905 and is a
consolidation of the Bangor Hampden & Winterport Ry., the Public Works
Co., the Bangor Orono & Old Town Ry. and the Old Town Electric Co.
On Feb. 1 1906 absorbed the Bangor & Northern RR., which was a reorganization of the Penobscot Central By. V. 82, p 333. Does entire
electric lighting and power business of Bangor, Old Town, Brewer, Milford,
Orono, Veazie and Hampden. Also furnishes water supply. Franchise
for about 12 miles of track in Bangor expires in 1912; others are unlimited
as to time. In Feb. 1907 authorized stock was increased from $1,250,000
to $1,500,000.
STOCK AND BONDS- Date. Interest. Outstanding.
Maturity.
_
$1.500,000 Oc .'08,
Stock, $1,500,000 ($100) _
5 Q-J
1,630,000 July 1 1935
1st con mtge, g, $2,000.000 1005
5 g J-J
($500, $1,000)
c* Guaranty Trust Co., New York, Trustee.
Public Works Co, 1st, gold, 1899
5 g A-0
600,000 April 1 1929
$600,000 ($500. $1,000) c* Interest at Old Colony Tr. Co. Boston, Trus.
Bonds.-Of the $2,000,000 new bonds, $370,000 can be used for extensions
and betterments at 85% of cost. Are subject to call on 60 days' notice at
10734 and int. Interest is payable in New York and Bangor. The Public
Works Co. bonds are not s ,bject to call. V. 80, p. 2456.
Dividends.-5% per annum has been paid on the stock since Oct. 1 1905.
EARNINGS.-For fiscal years ending June 30:
1908.
1907.
1904.
1906.
1905.
Gross earnings
$451,913 $412,160 $380,075 $325,149 $292,949
Operating expenses
227,342 218,374 195,543 194,163 f..189,705
BINGHAMTON RAILWAY CO.-A trolley road.
ORGANIZATION-Is a consolidation Dec. 6 1901 of the Binghamton
RR. Co (chartered Aug. 11 1892 as a consolidation of all street railways in
city) and the Bing. Lestershire & Union RR. Principal franchises granted
by special Acts of Legislature, and are said to be exclusive And perpetual.
STOOK AND BONDSInterest. Owtstanding. Maturity.
Date.
Stock, $1,150,000 ($100) _
$977,349 Dec '07 2A
Binghamton Street RR. 1st) 1890
168,000 Apr 1 1910
6 A-0
mort $200,000
J Metropolitan Trust Co. N. Y., Trustee.
Binghamton RR. Co. M.,)
'
45,000 1909-1917
$900,000, g. $1,000__a*
($5,000 due yeirly
I
(See text) Interest at Met-} 1893
1918-1922
• 50,000
5 g J-J
tropol. Trust Co., N. Y., 1
1(10,000 due yearly Mar 1
Trustee.
589,000 due Mar 1 '23
1
j
Bing. Lest. & Un. 1st Id.) 1895 5 g J-D
147,000 June 1, 1925
($250,000) gold. prin-) Interest at Metropolitan Trust, N. Y.
clpal and int. guar.
Binghamton Trust Co. Trustee.
1
Bing. By. 1st consol. mort. 1 1901
Nov. 1 1931
712,000
'
5 gM-N
$2,500,000
gold
($t.-Interest at Fidelity Trust Co. Buffalo, True000)
v.)tee, or Seaboard National Bank, New York.
Bonds.-Of the bonds of 1893,$95,000 mature in installments as indicated
In the table, and the remainder Mar 1 1923. Of the $900,000 authorized.
$200,000 are reserved to retire the 6s of 1910 at maturity, $32,000 of which
have been retired. Of the new bonds of the Binghamton Ry. Co., $1,150,000 were issuable against the retirement of corresponding amounts of
prior lien bonds, $150,000 were issuable immediately,$200,000 upon certain
specified conditions, and the remaining $1,000,000 only upon the written
Net earnings
$224,571 $193,786 $164,5321$130,986 $103,244 request of 51 per cent of the stock and consent of State RR. Commission
The requirements as to this last million were complied with in Jan. 1904
Fixed charges
$103,317 $93,614 $82,275 $70,236
Dividends
(V. 78, p. 701). The bonds are subject to call after Nov. 1 1911, at 110 and
74,940
88,698
56,198
interest. See V. 73, p. 1312.
Dividends.-2% was paid Jan. 31 1902; 2% Mar. 3 1903; 2% Apr. 11
• Surplus
$46,305 $31,473 $26,059 $60,750
and 2% Apr. 10 1905. A scrip dividend of 20% was paid Apr. 18
ROAD.-Operates 82.5 miles of track in Bangor and Brewer, Me.• and 1904
1905.
In 1906, May, 23,6%. In 1907, Dec.. 23-%.
from Bangor to Hampden, to Orono, to Old Town and to Charleston.
ROAD.-Operates 45.50 miles of track. Connects Binghamton with
Rails, 32 to 00-lb. girder and T standard gauge.
Lestershire,
Hooper, Endicott, Union and Port Dickinson. An extension
OFFICERS.-Pres.. John R. Graham; V.-P., Frank Stillman Jr.; Sec.,
Union to Owego is to be constructed. Standard gauge, 60-lb. to 94-1b.
Geo. T. Sewall; Treas., James W. Cartwright Jr.; Supt., W. H. Snow.- from
and girder rail; 75 motor cars and 27 trail cars. •
V.84, p.338.
REPORT.-Figures for year ending March 31 1907, gross, $305,754;
net, $142,844; int, and taxes, $92,688; surplus, $50,158.
OFFICERS.-Pres. G. T. Rogers; V.-P. Geo. E. Greene; Secretary, John
BARRE, VT.
B. Rogers; Treas. H. C. Hardie; Gen Man. and Pur. Agt., J. P. E. Clark;
BARRE & MONTPELIER TRACTION & POWER CO.-A trolley road. office,
Binghamton, N. Y.-V.77. p. 247: V.78, p. 342, 701, V.79, p. 1649.
Sold.-In May 1907 the control of this company was sold to a syndicate
represented by Frank M. Corry, Pres. of the First Nat. Bank of Montpelier.
BIRMINGTrAlw, ALA.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
BIRMINGHAM RY. LIGHT & POWER.
$120,000
Stock. $150,000, par $25 _
Controlled
by
the
American
Cities Ry. & Light Co. V. 83. p. 36.
1st M. gold, $100,000 ($5001 1897
5 g 11I-N
100,000 Nov 1 1917
ORGANIZATION.-Consolidation on June 13 1901 of the Birmingbana
each), not subject to call.c*lInt. at Am. Loan &Tr. Co., Boston, Trustee. Gas
Co., the Consolidated Electric Light Co. and the Birmingham By.
EARNINGS.-Fiscal year ending June 30 1907: Gross, $45,194; net,
Light & Power Co. Comprises all the street railways, gas and electric-light
$12,485; interest and taxes, $7,220: surplus, $2,513.
and power plants of Birmingham and all the principal near-by cities and
ROAD.-Barre to Montpelier, Vt., 914 miles, opened June 30 1898. /s towns,
the exception of the gas business in Bessemer and the electricconstructing a water-power plant on Winooski River to be capable of lightingwith
in North Birmingham. Franchises covering gas, electric-light and
furnishing 1,000 h. p.
power business
street railway lines are, with some unimportant excepOFFICES.-Pres.,
R
F. M. Corry, Montpelier; V.-P., H. K. Bush, tions, stated to and
Barre, Vt.;Sec. & Treas.. E. H Deavitt, Montpelier; Gen, Mgr.,I. M.Frost, Birmingham. be perpetual. Owns and operates a steam heating plant In
Montpelier.-V.84, p. 1246.
Isidore Newman & Son of New York and New Orleans are Fiscal Agents.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
Common ($100) $3,500,000_
$3,500,000
See text
BEATRICE, NEB
Preferred stock ($100) 6%1
BEATRICE ELECTRIC COMPANY
$3,500,000 cumulative_ _ _ _5 ____
6 J-J
3,500,000 Jne30'08,3%
ORGANIZATION.-Formerly operated the street railway in Beatrice, Birmingham Ry & El 1st AI g1 1894
5 g J-J
982,000 July 2 1924
7 miles, but this has since been given up and there is no street railway in
$1,250,000
_ __c•JInterest at Central Trust Co., New York.
operation any longer in Beatrice. The Beatrice Electric now does only an Ge
r)
ef $10,000,000
(n
$100
,
M 0
($1,000)- gold( 1904
4 ;.i g A-0 8,720,000 April 1 1954
electric-lighting business.
c9 Int. at Commercial-Germania Tr. & Sav.Bk..
(New Orl., Trustee, or at N.Y.Trust Co.,N.Y.
Ref & eaten M $25,000,000) 1907
6 g M-N
1,000,000 May 1 1957
BELLINGHAM, WASH.
($1,000)
gold
sinking Interest at Old Colony Trust Co,. Boston.
fund
01 Trustee, and N. Y. agency of company.
WHATCOA1 COUN1 V RAILWAY & LIGHT CO.-A trolley road.
-Of
Bonds.
the
new $25,000,000 bonds. $9,702,000 are reserved for prior
ORGANIZATION.-Incorporated in New Jersey on Nov. 26 1002. Controls the entire street railway, gas, electric-lighting and power business of liens, $300,000 for cost of additions after expenditure of first $1,000,000;
Bellingham. Principal railway franchise expires in 1941; minor railway $1,200,000 for cost of new power house if first lien on same, balance for 80%
franchise in 1934; electric-lighting and power franchise in 1940; gas franchise of cost of additions if net earnings are 1M times the interest on all bonds
In 1941. In Oct. 1905 acquired the Nooksack power plant of the Belling- outstanding, including those to be issued, and provided 10% of gross earnham Bay Improvement Co. and also the lighting franchises of that company. ings have been expended for maintenance within previous 12 months. The
directors may make the rate of interest on succeeding installments not to
V. 81, p. 1316, 1494.
New Stock.-In June 1907 $220,000 old pref. stock outstanding was re- exceed 6%. Bonds not subject to call. Sinking fund of 3.i of 1% of bonds
tired (V. 84, p. 1369) and stockholders authorized a new issue of $750,000 outstanding starts 1918. Of the Gen. Mtge. of 1904, no more bonds can
be issued. Sink, fund of M of 1% of bonds outstanding begins 1924. The
pref. stock. V. 85, P. 1144.
Interest. Outstanding. Maturity. bonds are subject to call on and after April 1 1009 at 105 and interest. For
STOCK AND BONDSDate.
the 1st 5s of 1894, $12,500 per annum is payable Into a sinking fund; $268.Common, $750,000, ($100)$750,000
have been canceled.
Pref $750,000 6% cum
M-S
240,900 S
'08,3-% 000
Dividends.-First div. on pref. stock, of 3%, paid In Jan. 1902, and 3%
First mortgage, $2,500,006,1 1905
5 g M-N
1,489.000 Nov 1 1935
has been paid semi-annually since then, to and including June 30 1908; on
gold ($1.000)
_lint. at City Trust Co., Boston, Trustee.
common stock in 1003,3 %;In 1904,4%;in '05,4%;in '06, 5%; in 1907, mi.
Notes payable Nov 30 1907_
75,000
LATEST EARNINGS.-For 7 months ending July 31 1908, gross, 11.Bands-Bonds Subject to Call as a whole on any int. date at 105 and int.
235,602; net, $439,400; charges, $307,370; surplus, $132,030.
Sinking fund of 1 % per annum of bonds outstanding, if earned,commences
REPORT.-For calendar years:
Nov. 1 1906; on Nov. 1 1911 becomes obligatory.
Dividends.-0% Is being paid on preferred stock.
Net after
Interest and
EARNINGS.-For 12 months ending June 30 1908, gross, $363,288; net,
Taxes.
Sink. Fund
Gross.
Surplus
,520
$690,520
a7r.
9e0
$479,506
$2,220,999
$3
29
20
4:4
905
14
$158,395; charges, $93,029; surplus, $65.,366; In 1906-07, gross, $318,131; 1Y
821,975
427,516
1,932,878
net, $133,816; charges, $74,198; surplus;$59,618.
737,844
6
1,630,514
ROAD.-Operates 18.4 miles of track. Standard gauge. Rails 40 to 11990°5
368 232
1904
602,453
329,516
60-1h. 40 cars.
1 424.145
272,937
573,852
304,755
1,311,851
OFFICERS.-Pres., Guy E. Tripp; V.-P., J. W. Hallowell; Sec., Alvah 1903
269,097
466,717
267,444
1,076,767
K. Todd; Treasurer, Henry B. Sawyer; Gen. Mgrs. and Transfer Agents, 1902
199,273
ROAD.-Operates 133 miles of track in city of Birmingham, and exStone & Webster, Boston, Mass.; Mgr., L. H. Bean, Bellingham.-V. 81.
p. 1316, 1494, 1552. 1794; V. 82, p. 393, 1042; V.84. p. 1369; V. 85, p. 1144, tending also to Bessemer, Pratt City, Ensley and several suburbs. Standard gauge. All but 21.3 miles 60 to 100-lb. T and girder rails. Operates
278 cars.
OFFICERS.-Pres. and Gen. Mgr., A. H. Ford, Birmingham; V.-Ps.,
BENTON HARBOR, MICH,
Geo. H. Davis, New Orleans, and Lee C. Bradley, Birmingham; Sec.,
BENTON HARBOR-ST. JOE RAILWAY & LIGHT CO.
ORGANIZATION.-Incorporated in Michigan in Jan. 1906 and is a con- J. P. Ross; Treas. and Aud., C. M. Cory.-V. 84, p. 803, 1427; V. 85, la'.
solidation of the Benton Harbor & St. Joseph Electric By. & Light Co. 98, 220, 598, 653; V. 86, 11• 479.
and the St. Joseph River Traction Co.
AMERICAN CITIES RAILWAY & LIGHT CO.-A holding company.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
ORGANIZATION.-Incorporated in New Jersey on June 16 1906. Has
Stock, $1,000,000 ($100)__ $924,500
acquired over
% of the capital stocks of the Birmingham By. Light &
1st con M, $1,000,000, gold) 1908
5g
612,000 Nov 1 1935 Power Co., the$5
Memphis St. Ry.. the Little Rock By. & Electric Co., the
c Int. at Col. Fin. & Tr. Co. Louisville, Trus
($500 and $1,000)
Knoxville
Light Co. and the Houston Lighting & Power Co. For
By.
&
BH &s .7 El Ry & L 1st M, 1900
5 g M-S
200,
Sept 1 1920 terms of exchange, see V. 83, P. 35.
$200,000, gold (31,000)_ .1Int. at Am.Tr. & Say. Bank, Chic., Trustee
Outstanding Securities American Cities Railway & Light.
et.,o
m8alurity;
i
Bonds.-02 the $1,000,000 new bonds, $200,000 are reserved to retire
Interest. $
01u
61
0 66
Date.
7..11d1:67050.
STOCK AND BONDSprior Liens and $188,000 for extensions. They are subject to call on any
interest day at 105. The $200,000 bonds of the old company after 1010 Com,$15,000.000 ($100)__
Q-J
have a sinking fund of $10,000 per annum but bonds cannot be called. See Pref. $12,000,000($100) 6 %cum-- -redeemed
after three years at 107k and
Stock.-Preferred stock may be
V.71, p. 1268; V.72,p. 282.
accumulated dividends.
EARNINGS.-Gross earnings for cal. year 1907 were $172,790.
was paid Jan.1907; also 134%
%,
stock,
3
pref.
Dividends.
-First
on
di
v.
ROAD.-Operates 15 miles of track in St. Joseph and Benton Harbor,
with an extension of 15 miles to Eau Claire, making a total of 30 miles. 60, Apr; 134% July and Oct. 13.5%. In 1908, Jan., 1 %;Apr., 1M %;July,
1% and Oct., 1;i %.
70 and 73-lb. girder and T rail.
Income Account.-For year ending Dec. 31 1907:
OFFICERS.-Pres., C. K. Minary, Benton Harbor, Mich.; V.-P., Will$521,065'General expenses
$
41
17
4,.3
34
78
1
iam Jarvis, Louisville, Ky.; Sec., L. W. Botts, Louisville; Gen. Mgr., H. C. Div. on stock owned
5,158 tPref. dive. (6%)
Other income
Mason, Benton Harbor.-V. 82, p. 333.
Balance,
surplus
$527,123
i
Gross income
$95,404
Combined Earnings of Controlled Companies for Calendar Year.
BIDDEFORD, ME.
Year.
Gross. Net after taxes.Int. it 3.1.
Surplus.
BIDDEFORD & SACO RR.-A trolley road.
$2,066,093
1907
$1,156,005
$5,437,796
•$910,081
ORGANIZATION-Incorporated Feb. 19 1887.
2,035,534
1,005,858
1906
4,710,637
01,029,879
Interest. Outstanding. Maturity- 1905
STOCK AND BONDSDate.
1,718,852
849,071
3,896,743
867.781
$100,000
Stock ($50),
• In 1907 $218,874 and in 1906 $129,981 of surplus was set aside for bet$100,000 Oct'07, 5%
4 g J-D
1st mort. $300,000 ($1,000)1 1900
150,000 June 1 1940 terments, depreciation, &c.
gold a'. No s. 1. but can be} Interest at Portland Trust Co.Portland,Me.,
Newman,
New
York;
V.-P.,
OFFICERS.-Pres., J. K.
Geo. H. Davis:
• called in 1920
1 trustee.
New Orleans; Treas., L. Carroll Root, New York.-V.83, p. 35, 322, 1522;
Dividends.-In 1902 91i%; in 1903, 3%; in 1904, 35i%; in 1905, 4%; V. 84, p. 1179.
In 1906, 5%; in 1907, 577); in 1908, none to Sept. 1.
EARNINGS-For ascot years ending June 30
.
BLOOMSBURG, PA.
Net.
YearInt., etc. Dividends. Surp.
Gross.
COLUMBIA & MONTOUR ELECTRIC RAILWAY.
$19,520
1907-08
$7,059
$73,418
$5,000
$7,461
-Incorporated in Pennsylvania in 1900. Franchises
ORGANIZATION.
18,145
1906-07
7,321
67,582
5,000
5,824 run 999 years.
ROAD-Operates 8 miles of track between Saco, Biddeford and Old
Interest. Outstanding. Maturity.
STOCK AND BONDS.
Date.
Orchard Beach.
Stock $375,000 ($50)
3375,000
1907, 3%
OFFICERS-President, C. H. Prescott. Biddeford; Secretary and Treas- First mortgage $375,000 gold) 1901
5 g J-J
375,900 Jan 1 1931
urer, E. F. Lord.-V.70, p. 1048; V.73, p.494.
($500 and $1,900)
c&fi Int. at Commonwealth Tr. Co., Harrisb.. Tr.
--
SEPT., 1908.1
\`\
W
I
ELECTRIC RAILWAYS
PIM' BANKS
NC
South
Reservoir
Fore.tda/e
Cemetery
Turkey
Hal
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Car House
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F
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Mystic
Park
\,
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BELGRADE
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Boston Elevated Railway Co.
System.
Surface
Elevated.
Projected,=...
Projected cccccoo
Car Houses
Subway =mos
Power Stations e3
Dividends.-First dividend-2%--Was paid Oct. 1903; also 2% Oct.
1904, 2% Oct. 1905 and 3% Oct. 1906; in 1907, 3%•
EARNINGS.-For fiscal year ending June 30 1908, gross, $73,375; net,
$27,911. In 1906-07, gross, $80,731; net, $35,921; fixed charges, $18,750;
surplus, $17,171.
ROAD.-Operates 18% miles of track, extending from Berwick to CatawIssa. Standard guage. 56-lb. T rail. 18 cars.
OFFICERS.-Pres.. B.F. Meyers; V.-P., E.R.Sponsier; Sec. and Treas.,
W. M. Oglesby, all of Harrisburg; Supt., Wm. Terwilliger, Bloomsburg.
Offices Bloomsburg and Harrisburg.
BLUFFTON,IND.
MARION BLUFFTON & EASTERN TRACTION Co.-A trolley road.
ORGANIZATION.-Organized in 1905 in Indiana. Private right of way.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS58.)0,000
Common, $850,000 ($100)5 g .I-J
720,000 Jan 1 1937
First mtge, $850,000 (51.000)1 1907
gold, no s f ec not red_ _c&rjInt at Marion Trust Co., Indianapolis, Trust
BONDS.-5130,000 are reserved for future betterments under certain
restrictions.
ROAD.-Operates 32 miles of track between Marlon, where connection Is made with Indiana Union Trac. Co. lines, and Bluffton, Ind., connecting there with Ft. Wayne & Wabash Valley Traction. Standard
gauge. 70 lb. T-rail.
EARNINGS.-For 12 months ending July 1 1908, gross, $92,874;
net, $39,600.
OFFICERS.-Pres., L. C. Davenport; Sec. and Mgr., R F. Cummins;
Treas., W. A. Kunkel; Aud., J. S. Clark; Supt., C. W. Clark; all of Bluffton.
BOISE CITY,IDAHO.
BOISE & INTERURBAN RY. CO.-A trolley road.
ORGANIZATION.-Incorporated 1896 in Idaho.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
$1,150,000
Stock, $5,000,000 ($100)5 g A-0
1936
900,000
1st mtg,$5,4,00,000,g($1,000)1 1896
cecrlInt. at Colonial Trust Co., Pittsb., Trustee.
s f and sub to call
ROAD.-Operates 37 miles of track between Boise and Caldwell, Includ
ing 7 miles in Boise. 60, 72 and 110-1b. rail, mostly T. Standard gauge.
Owns a 550-ft 5-span bridge over the Boise River. Several extensions are
proposed.
OFFICERS.-Pres., W. E. Pierce, Boise; V.-P., Julian Kennedy,
Pittsburgh; Sec., Thos. B. McKaig, Pittsburgh; Treas., Alexander C.
Thompson, Pittsburgh; Gen. Mgr., Harry E. Dalton, Boise.
BOSTON, MASS.
BOSTON ELEVATED RAILWAY.-(See Map on page 11.)
ORGANIZATION.-Charter granted in 1897 provides for an extensive
system of free transfers. The company also, in addition to regular street
railway taxes, has to pay % of 1% of gross "earnings of all lines owned,
leased or operated by it," and a sum equal to the excess of the dividends
over 6%. Its charter, however, is understood to "grant It exemption from
reduction of fares, and also other immunities." (See Masssachusetts RR.
Commission, V. 65, p. 1223.) Elevated cars run with electricity by "third
rail" system; surface lines by trolley. Six miles of elevated road opened in
dune 1901; in Aug. 1901 put in operation the Atlantic Ave. Loop Division.
Lease of West End and Subway and Tunnels.-The West End Street By,Is
leased until June 10 1922.
In Dec. 1896 the West End Street Ry,leased the right to use the Boston
Subway. See terms under West End Street By.
On Dec. 24 1904 the East Boston tunnel (under Boston Harbor) was leased
by the Boston Elevated Ry. until June 10 1922 for a rdntal of % of 1 % of
earnings of all lines owned, leased or operated. The company also collects
a toll of one cent per person, which goes to the city. The tunnel was opened
Dec. 30 1904. It extends from the main land to East Boston, 1.4 miles,
and cost over $3,300,000.
On June 28 1902 Washington Street Subway bill became a law. The city
is to construct a tunnel for elevated trains and lease same to the Boston
Elevated Ry. Proposition was ratified by voters at the Dec. 1902 election.
V. 75, p. 28, 496, 1315; V. 77, p. 2097; V. 82, p. 217. The Washington
Street tunnel will be completed in fall of 1908. In 1907 an Act was passed
modifying plans somewhat and permitting Boston Transit Commission to
construct a subway to be known as the Riverbank Subway and giving this
company right to lease same for 25 years at an annual rental equal to 4
of net cost thereof. Another Act passed In 1907 authorizes company to
build an elevated extension from Sullivan Square, Charlestown, to Malden.
See V. 86, I). 105.
On April 29 1903 leased from the Old Colony Street fly. all that company's tracks in the city of Boston, amounting to 23.753 miles. The lease
is for 99 years and provides that besides paying taxes the Elevated Co. will
pay 6% % of replacement value (appraised at $353,979, less the rental of
certain short pieces of track appraised at $13,866) of the property leased as
of date Feb. 16 1933, and 4% on the cost of all additions and betterments.
Subways in Cambridge.-In June 1906 a measure passed by the Massachusetts Legislature became a law, which permits the Boston Elevated to
construct two subways in Cambridge, and to issue stock or bonds to meet
the cost. At the end of 20 years the city of Cambridge is to have the right
to purchase these subways by paying their cost plus 7% interest, less dividends. V. 83, p. 93. See remarks concerning these subways in company's
report for 1906, as given In V. 84, p. 155. Preliminary work on subways is
under way.
Extension.-An extension of the elevated road to Forest Hill has nearly
been completed. In April 1905 57,500,000 new bonds were issued to
provide for this extension and for payment of floating dent, &c. See V.
80, p. 1423.
Damages by Noise.-In Aug. 1902 Judge Mason, In the Superior Court
at Boston, held that the company is liable for damages from noise caused
by the operation of trains. V. 75, p. 496. This was affirmed April 1903,
by Massachusetts Supreme Court. V. 76, D. 809.
Consolidation with West End Street Ry.-Under an Act of the Massachusetts
Legislature, approved May 28 1908, consolidation with the West End Street
Ry., now leased, is permitted; 8% cumulative first pref. stock is to be issued,
share for share,for the pref. stock of the West End, and 7% cumulative 2d
pref. stock for the common stock of the West End. V. 86, p. 917, 1342.
Companies have until Dec. 31 1909 to accept the Act.
Interest. Outstanding
Date.
STOCK AND BONDS.
Maturity,
$13,300,000 Aug15'08 3%
F-A
Stock, 523,000,000 ($100)
- - -- 4 g M-N
8,500,000 May 1 1935
c&r1 1905
Debentures, gold
Trust
Co.,
Boston,
(Old Colony
Registrar.
4,800.000 Oct 1 1937
._ c&r 1907
Debentures,gold
43 %
Bonds.-The coupon bonds are in denominations of $500 and $1,000 and
registered bonds are in denominations of $1,000, $5,000, $10,000 and
$50,000.
On April 30 1907 shareholders voted to increase the authorized stock to
$23,000,000 and the bonded debt from $11,000,000 to 816,800,000, to
provide for new construction and equipment. See statement in V. 84, p.
1051.
Massachusetts Commission was petitioned for authority to
issue $8,000,000 of the new stock to defray the cost of Cambridge Subway;
also authority to issue $5,800,000 of the new bonds for the cost of power
additions, new equipment and the Forest Hill extension. This latter authority was granted In June 1907. Of this amount $1,000,000 have been
Issued as 4s maturing May 1 1935 and remaining $4,800,000 were sold as
43s maturing Oct. 1 1937 ($2,500,000 at public sale and $2,300,000 to a
syndicate headed by R. L. Day & Co. V. 85, p. 865; 920; V. 86, p. 277.
The petition to issue the $8,000,000 new stock has been withdrawn for the
present. V. 85, p. 1461.
Dividends.-First dividend, 23%. was paid Aug. 15 1898. In 1899,
%; in 1901,5%%; in 1902, %; in 1903,6%; 1s1904,
53%; in 1900,
6%;in 1905. 6 %;in 1906. 6%;in 1907,6 %; In 1908. Feb.. 3%, Aug., 3%,
REPORT.
-Report of I3oston Elevated Ry. for year ending
ANNUAL
Sept. 301007 in V. 86,p, 105. For 1906, mV.84,p. 155.
1906-07.
1900-06.
1904-05.
_ *271,084,815*262,267,240*246,941,776
Revenue passengers
52,061,569 50,280,786 48,273,622
Car miles run
$13,952,966 $13,527,185 $12,689,676
Gross earnings
4,305,821
4,220,235
4,072,023
Net earnings
58,201
107,426
Interest on deposits
51,893
•
[VOL. Lxxx.Vli.
ELECTRIC RAILWAYS
12
Total net
$4,364,022
* These figures cover revenue passengers only.
free transfer passengers.
$4,327,882
$4,123,916
No data available as to
Deductions-Interest on West End debt
Taxes, West End
Taxes, Boston Elevated
Compensation tax
Rental of subway
Dividends on West End stock
Other rentals
Rental to Old Colony Street Ry
Int. on Boston Elev.funded debt
East Boston Tunnel rental
Depreciation fund
Balance
Dividend (6%)
Surplus for year
ROAD.-Sept. 30 1907:
1906-07,
$650.319
525,509
318,189
123,276
207,274
1,200,874
9,180
40,362
306,389
51,371
100,000
1904-05
1905-06.
$654,758
5653,680
579,226
573,204
358,905
344,823
109,202
115,987
201,269
193,142
1,190,248
1,190,248
9,180
9,18
37,783
33,772
300,000
125,000
49,708'
35,398
$831,279
798,000
$851,778
798,000
$835,085
798,000
$33,279
$53,778
$37,085
Miles.
Miles.
Main line first track (6.6 m."L")_222 Owned by West End
395
do
second track(6.5""88 Leases, trackage, &c.(16m."L")_ 67
Sidings, &c. (2.9 miles "L')
-------52
462
- Total (16 miles "L")
Total (16 miles "L")
462 Electrically equipped
456
Weight of girder rails Is 70 to 100 bs. Cars, 3,505; horses, 288; electric
motors, 5,137; snow-plows, 305; snow sleds, 624; misc. vehicles, 554.
OFFICERS.-Pres., William A. Bancroft; V.-P., Charles S. Sergeant;
Treas., William Hooper; Sec., Daniel L. Prendergast; Compt., H. L. Wilson.-V. 85, p. 863, 920, 1143, 1460, 1576; V. 86, p. 105, 277, 017.
1342.
Companies Controlled by Boston Elevated Railway Co.
(1) West End Street Railway.-A trolley road.
ORGANIZATION.-Leased to Boston Elevated By. until June 10 1922
at 7% on common and 8% on preferred in addition to the payment of
rentals, interest and other charges. Elevated assumed possession Jan. 1
1898. See terms in V. 65. p. 1223. Company is now to be consolidated
with the Boston Elevated By. See particulars under latter company.
V. 86, p. 920.
In Dec 1896 leased the right to use the subway at 414% of the net cost
of subway, stated approximately as $5,786,000 in Sept. 1898, when the
third and last section was opened. Entire length is 1 2-3 miles, with a
trackage of about 5 miles. See V. 63, p. 1065, 1117; V. 67, p. 528.
In April 1907 the Massachusetts Railroad Commission authorized
$420,000 additional common stock at $85 per $50 share, to cover cost
of improvements made by the Boston Elevated. V. 84, p. 572, 805.
The stock was at once offered to shareholders at that figure. V. 84,
p. 932. Of this, $56,500 was not taken by the shareholders, and in June
1907 the Commission authorized the sale of the same at auction at not
less than par. V. 84, P. 1369. The prices received ranged from 81%
to 83%. V.84,p. 1553. In Dec. 1907 the Commission authorized a further
Issue, for same purpose, of $1,010,900 common stock, fixing issue price
at $70 per $50 share (V. 85, p. 1520, 1578), at which figure (plus accrued
dividend) it was offered to stockholders (V. 88, p. 53); $935,450 was taken
and remaining $75,450 was sold at public, auction, bringing $803( per
share. V. 86, _p. 109, 482, 549.
The Mass. RR. Commission onJan.301908 authorized issuance of $700,000 15-year bonds on account of additions already made. V. 86, p. 287, 422.
Interest. Outstanding. Maturity.
STOCK AND BONDS.- Date.
7 A-0 $11,120,150 Oct '08, 33.4
Com stock ($50)511,120.150_ _
8 J-J
6,400,000 July'08, 4%
Preferred ($50) $6,400,000___
1894
43 g M-S 2,000,000 Mch 1 1914
Gold bonds of 1894
4 g M-N
815,000 May 1 1916
Gold bonds of 1896, 52,275,1 1896
mortgage
$
_2
..
moofr
Ci()
not01897 4 g F-A
2,700,000 Feb 1 1917
Gold bonds
mortgaged
od
rt
s ol
on
y
otbm
not 1900
4 F-A
. 4,743,000 Aug 1 1915
n
c
Currency
mortgage
c Interest at Old Colony Trust Co., Boston.
c* 1902
4 F-A
5,709,000 Aug 1 1932
Bonds ($1,000)
eft 1908
700,000 Jan 1,1923
Bonds ($700,000)
4% J-J
Bonds.-With the exception of 1900 issue (noted above) Interest on all
Issues is payable at American Trust Co., Boston.
OFFICERS.
-Pres., Joseph B. Russell; Treas., Parkman Dexter.
V. 85, p. 1463, 1520, 1578; V. 86. p 53, 109, 287, 422, 482, 549. 920.
Somerville
Horse
RR.
(2)
Owns 8.04 miles of track. Leased to West End Street By. for $9,180
yParly-6% on 5153,000 stock. Dividends are payable(M&N)in Boston.
BOSTON SUBURBAN ELECTRIC COMPANIES.-A trolley system.
ORGANIZATION.-This company is a voluntary association formed In
Nov. 1901 on the same lines as the Massachusetts Electric Companies. The
properties controlled are the Newton Street Ry.(Into which Waltham Street
By. has been merged), Newton & Boston Street By., Lexington & Boston
Street By., Natick & Cachituate Street By., Middlesex do Boston Street
By , Natick & Needham Street By. and Westboro & Hopkinton Street
By. The entire issues of the stock of these roads have been acquired
In 1902 secured entire ($324,700)capital stock of the Waltham Gas Light Co.
V. 74, p. 377. (The Waltham Gas earned $208,345 gross, $59,795 net and
$27,325 surplus above 10% dividends year ending June 30 1908.) In 1902
also purchased Norumbega Park and Lexington Park. Also owns all of
the $50,000 stock of the Suburban Mfg. Co. (company has no bonds).
On May 27 1907 amendments to the declaration of trust were passed by the
stockholders, which confers upon the trustees certain powers with reference
to disposition of securities and other property. See V. 84, p. 1246, 1306.
The object In view is the consolidation of the Westboro & Hopkinton, the
Middlesex & Boston and the Natick & Cochituate iys. and application
was made Sept. 1908 to Railroad Commission for permission to consolidate
these properties. In 1908 Massachusetts RR. Commission sustained
action increasing fares o several of the subsidiary lines from five to six
cents. V. 87, p. 345. Has acquired freight rights in several of the towns
along its lines.
STOCK.-Shares have no par value, but in case of liquidation the preferred shareholders will be entitled to $100 per share, with accrued dividends: the common shares participating pro rata in the remaining assets.
(See V. 73, p. 1159, 1263.) In 1904 15,635 shares of preferred and 15 635
shares of common were offered to shareholders at $66 67 for one share of
preferred and one share of common jointly. Listed on Boston Stock Exchange in April 1905.
Date.
Interest. Outstanding. Maturity.
Common stock
47,969 sh.
Preferred stock, $4 per sh. cum
47,119 s'n. Oct.15'07,75o
Q-J
Coupon notes, ($1.000,55,0001 1908
5
$500,000 July 1 1010
flit. •t Boston Safe Dep. & Trust Co., trustee.
$10,000 and $25,000)
Notes.-The notes are secured by deposit with trustee of $500,000 notes
of Newton Street By.. $100,000 notes of Natick & Cochituate St. By. and
$150,000 of the stock of the Waltham Gas Light Co. stock. V. 87, p. 36.
ROAD.-Companies owned and controlled operate in the aggregate about
141 miles of track from Needham on the south to Lowell on the north, and
connecting at thrce points with the tracks of the Boston Elevated By. At
Westboro connection is made with the Worcester Consolidated.
Ditrldends.-Flrst of $1 on preferred paid April 1902; also $1 July 1902
and $1 Oct. 1902. 11).1003, 34; in 1904, $3; in 1905, 52; in 1906,$2 75;
in 1907, $3. In Jan. 1908 div was passed, making arrears of divs. to
that date $7.75. V. 85, p. 1645. None since.
REPORT.-For fiscal year ended Sept. 30 1907: Income, gross, $244,910; net, $188,490; dividends, $141,357; surplus, $47,133; loss on Concord
& Boston Street By., $1.122.
OFFICURS.-Pres., Adams D. Clafiln; V.-P., Wm. F. Hammett:
Treas., Alden E. Wes; Sec., A. A. Ballantine; Asst. Treas., G. M. Cox. V.
V. 86; P. 1466, 1528; V. 87, p. 36, 345.
(1) Lexington & Boston Street RY
OROANIZATION.-Incorporated In June 1899. Operation begun in
Maw 1900.
STOCK AND BONDS.
Interest. Outstanding, Maturity.
Date.
$525,000 In'03-04,1 %
Stock $525,000 ($100)
500,000 July 1 1920
First mortgage $500,000 goldl 1900
4% g A-0
Trust Co., Boston, Trust.
($1,000)
eac
c*ntr
Current liabilities Sept. 30 '07---------------205,227
Bonds are subject to call before July 1 1905 at 110. then until July 1 1910
at 1073,6 and thereafter at 105.
EARNINGS.-Year to Sept. 30 1907: Gross, $151,134; net, $40,477;
charges, $40,208; surplus, $269.
13
ELECTRIC RAILWAYS
SEPT., 1908.)
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BOSTON & NORTHERN
AND
OLD COLONY
Street Railway Companies.
(Massachusetts Electric Companies).
14
ELECTRIC RAILWAYS
ROAD.-Owns and operates 32.356 miles of track, leases 0.745 miles:
Of the new coupon notes of 1903, $2,700,000 were issued to retire the
total, 33.101 miles, extending from Arlington Heights (terminus of Boston prior notes. The collateral for these notes consists of $3,656,300 stock of
Elevated system) through Lexington and Bedford to Billerica, where cars go the Old Colony St. By. and $718,700 stock of the Boston & Northern
to
and
the
also
through to Lowell without change
Sullivan Square,Charles- St. Ry. See V. 81. p. 726. 1436.
town, station of the Boston Elevated Ry., with branches to Waltham and
REPORT.-Report for the year ending Sept. 30 1907 (see "Chronicle"
to Concord; laid with 95-1b. girder rail and 60 and 70-lb. Trail; operates 170 Dec. 7 1907, p. 1457), shows receipts from dividends, $880,837: from intermotors, 23 box and 38 open cars; total, 61 cars; 7 snow-plows, 2 work cars. est on notes, &c.,$82,004; total, $962,841;expenses,$16,630;interest, $157-V. 83, p. 155, 818.
500;surplus. $788,711; previous surplus, $778,174; total surplus,$1,566,885
(2) Natick and Cochituate Street Ry.-Trolley road.
CONSOLIDATED INCOME ACCOUNT OF CONTROLLED COS.*
ORGANIZATION.-Stock. $100,000, par $100. No bonds. Current
Year end. Sept. 301906-07.
1905-06.
liabilities Sept. 30 1907, 8213,844.
1904-05.
1903-04.
$7,758,511 $7,518,240 $6,734,127 $6,380,863
Dividends.-In 1898-99 to 1902-03, inclusive, paid 8% per annum; in Earnings
5,000,652
4,883,552
4,456,303
1903-04,2%;in 1904-05, none; in 1905-06,6%;in 1906-07,2%. 183), miles Expenses
4,479,520
of track.
Net earnings
Earnings.-Year to Sept.30 1907: Gross,$100,078; net, $10,780;charges,
82,757.859 $2,634,688 $2,277,824 $1,901,343
Charges
$14,766; dividends, 82,000; surplus, $14.
1,702,623 • 1,594,503
1,543,514
1,462,626
(3) Newton Street Rail way.-A trolley road.
Divisible income
$1,055,236 $1,040,185
$734,310
ORGANIZATION.-Chartered in 1887. In Dec. 1903 the Railroad Com$438,717
Dividends
880,773
710,406
372,448
466,003
mission authorized an issue of $292,000 stock, share for share,for the stock
of the Commonwealth Avenue Street By. and $115,000, share for share,
Balance
$174,463
$329,779
$361,862 def.$27,286
for the stock of the Wellesley & Boston Street By. V. 77. p. 2098.
In Oct. 1907 Massachusetts RR. Commission approved the consolidation
*The Georgetown Rowley & Ipswich is Included in 1906-07, 1905-06 and
of this company with the Waltham Street By. (previously operated under 1904-05,
but is not included in preceding years.
agreement) and the issue of $100,000 new stock with which to buy the
$100,000 stock of the latter road.
DIVIDENDS.-First div. on pref. stock, 2%, was paid Dec. 1 1899; also
Massachusetts
1
August
1908
RR.
Commission
On
gave a decision sus- 2% June 1 1900. Div. period then changed to J&J and 2 1-3 70 patd Jan.
taining company's right to charge 6-cent fares and to charge one cent 1901; July 1901,2 70;in 1902,4%;In 1903,4%;
in 1904. Jan.,2 70; July,2 70.
extra (beyond the ordinary five cents) for each transfer Issued. See The Jan. 1905 dividend was passed and none paid
since. See V479, 2642,
345.
V. 87, P.
2456, and V. 85, p. 1646.
•
Interest. Outstanding. Maturity.
STOCK AND BONDS.
Date.
PLANT.-The street railways controlled have 891.68 miles of main line
Stock $907,000 (par $100) ____
$822,000 '06-'07, 2
Q-J
Newton St Ry 1st M cur not 1892
5 J-J
500,000 July 1 1912 and 931.94 miles of track, and own and operate 2,020 cars, of which 927 are
subj to call ($500) $500,000 Int. pay. at Am. Loan & Tr Co., Bost.,Trus. closed and 1,093 open cars; power stations, 16, with a capacity of 53,410.
Commonwealth Ave first futg 1896
OFFICERS.-Pres., Gordon Abbott; V.-P., Charles E. Cotting; Sec
5 g F-A
75,000 Feb 1 1916
$75.000 ($500) gold- -c*jInt. at Internat. Tr Co., Boston, Trustee.
Everett W. Burdett; Treas., J. H. Goodspeed; Gen, Mgr., P.F. Sullivan
Waltham St By 1st mtge,1 1905
5 g J-D
100,000
1925 Gen. Auditor, D. Dana Bartlett. Executive Committee: Messrs. Gordon
Int. at American Trust Co., Boston, Trustee. Abbott, Charles Francis Adams 2d, E. N. Foss, Percy Parker, Philip L.
$100,000 ($1,000)
Current liabilities Sept 30 190
Saltonstall, Charles E. Cotting and Philip Dexter, Office, 84 State St.,
515,954
ANNUAL REPORT.-For years ending Sept. 30 (1907 earnings only Boston. V. 83, p. 626, 818. 1411, 1467: V. 84, p.51; V. 85, p. 531, 1210,
Include Waltham Street Ry.)
1339, 1457, 1577, 1646; V. 86, p. 668.
1906.
1907.
1907.
1906.
(1) Boston & Northern Street Ry.-An electric road.-(See Map on p.13.)
Gross earnings_ __$363,040 $361,506 Balance for divs__ $20,595 $41,197
94,367 107,608 Dividends paid__ 18,050
Net
ORGANIZATION.-This was the Lynn & Boston RR., but on July 23
36,100
66,411 Balance. surplus..
Interest.taxes,&c. 73,772
2,546
5,097 1901 name changed to present title. The Lynn & Boston RR. was incorROAD.-Owns from Newton to Waltham, Watertown, &c., 13.30 miles porated under laws of Mass. April 6 1859. In 1900 absorbed the Gloucester
track (measured as single); sidings, &c., 0.57; trackage, 2.49; total, 16.36 St. By.(which, Jan. 18 1900, had absorbed the Rockport St. Ry.) and the
miles; Commonwealth Avenue Street Ry., 7.62 miles; Wellesley & Boston Wakefield & Stoneham St.Ry., which latter, on Dec.31 1899, had absorbed
Street By.,8.66 miles; Waltham Street Ry.,7.183; total oper.,47.547 miles. the Woburn & Reading, the Salem& Wakefield, the Mystic Valley and the
-V. 78, p. 2442, 2599; V. 85, p. 921,
Reading & Lowell. In April 1901 acquired the Beverly & Danvers. In
May 1901 absorbed the Lowell Lawrence & Haverhill and the North Wo(4) Newton & Boston Street Railway.-Trolley.
Interest. Ou$
STOCK AND BONDS- Date.
ts2to
cio.
ndolo
no
g. Maturity. burn. The Lowell Lawrence & Haverhill had in Nov. 1000 been consolidated with the Lowell & Suburban, and the latter had previously received
Stock, $250,000, par $100
1 1892
5 J-J
1st mtge for $500,000
200,000 July 1 1912 authority to lease the Nashua St. By. On Mch. 2 1903 absorbed the
Not subject to call.
.9C2.9
o1
J Int. payable at Am.Tr3
.,T
3rustee, Boston Gloucester & Rockport St. By., previously leased.
In June 1903 received permission to issue stock in exchange, share for
liabilities Sept 30 1907
Cuent
rr
Dividends.-In 1808,5 70; In'99, Jan..1 h 70; in April, 1( 70. None since. share, for Middleton & Danv. stock and for Law. & Read St. Ry. stock.
EARNINGS.-For year ending Sept. 30 1907,gross, $74,005; net,$4,154; The Middleton & Danvers had previously absorbed the Haverhill & Andover St. By. and the Lawrence & Reading had absorbed the Reading WakeInterest, taxes, &c., $34,513; balance, deficit, $30,359.
ROAD.-Owns 9.748 miles track; track leased, 5.618 miles; Total field & Lynnfield St. Ry. In Sept. 1906 exchanged its stock for stock of
the Georgetown Rowley & Ipswich St. By.and the Lowell & Boston St. Ry
trackage, including sidings, 15.443 miles.
(a) Newton vine & Watertown Street Ry.-Trolley.
907 RR. Commission granted permission to Issue $410,000
p. 8118
V.83,
In Nov.
ORGANIZATION.-Operates about 5 miles of track. Stock) $50,000; additional
ref. mtge,
which will make total of these bonds outoutstanding, $50,000; par $100. Unfunded debt Sept. 30 1907, $59,650. standing $2,586,000. bonds,
On March 17 1908 shareholders authorized an Issue
No funded debt. Operated by Newton & Boston St. Ry., under lease of of $1,250,000 6% cumulative preferred
stock to retire floating debt. Stock
1897, at a rental of 7.2% per annum on the stock, payable February and to be subject to call at 120. V. 88,
p. 720. Massachusetts Railroad ComAugust.
mission has been petitioned for permission to issue same.
(5) Middlesex & Boston Street Ry.-Trolley.
In 1907 obtained permission to do a freight business In a majority of the
ORGANIZATION.-Organized in 1907 and took over the South Middle- towns along Its line.
Sex Street Ry., sold at receivers' sale July 1 1907. Application was made
AND BONDS- Date.
STOCK
Interest, Outstanding. Last div.,.tc
Sept. 1908 to Massachusetts RR. Comm ssion for permission to consolidate SRtoofc (par $40
502000
$11,043,200 In 1907, 5%
with the Westboro & Hopkinton St. By. and Natick &Cochituate St. Ry.,
,000,
mtge,
goldl
1
904
4
g J-J
2,176,000 July 1 1954
and also to issue $140,000 additional stock to exchange for like amount of
($1,000)
c•fInt. at American Trust Co., Boston, Trustee.
stock of latter two companies. V. 85, p. 221.
Naumkeag Street By consolf 1890
5
J-J
711,000 July 1 1910
Interest.
Date.
BONDS.Outstanding.
STOCK AND
Maturity.
mtge ($1,000)
lInterest at Knickerbocker Tr. Co., N. Y.
Stock, $300,000____-- --(Manhattan Trust Co., N. Y., Trustee.
5 g F-A
100,000 Feb 1 19ia Lynn Belt 1st
So Mid St Ry,$100,000, g-old._ _f 1895
1890
5 M-N
$100,000 May 1 1910
(Interest at International Trust Co., Boston.
American Trust Co., Boston, Trustee.
Current liabilities Sept. 30 1907_
2(1,
(
6
00f4.
$
1891
Essex Electric 1st
6 J-J
100,000 Jan 1 1911
l
EARNINGS.-For year ending Sept. 30 1907, gross
1
Middlesex
;sex &
Old Colony Trust Co. Boston, Trustee.
Boston and South Middlesex), $89,875; net, $27,683; charges,
divs., Lynn & Boston 1st mtge, g, 1894
5 g J-D
3,7.23,000 Dec 1 1924
83.000; surplus, $16,230.
$5,379,000 ($1,000) _ _ _ _c• Int. at Old Colony Tr. Co., Boston, Trustee.
ROAD.-Owns 15.898 miles of track and runs from Hopkinton to South G R & I 1st mtge ($1,000), 1900
5 g J-D
180,000 June 1 1920
Natick; rails, 75-lb. T. Total operated, 16.067 miles.-V.85,p. 221.
$180,000. gold
Int. at Mercantile Trust Co., Boston, True.
Ry.-Was
leased
to South Middlesex St H G & D 1st mtge
(a) Natick & Needham Street
1899
5
35,000 Melt 1 1919
1897
6 A-0
405,000 April 1 1917
By.(now the Middlesex & Boston St. Ry.) at rental of 4% on the $50,000 Coupon notes, $405,000
stock and interest on bonds. Receiver ceased operating road In Jan. 1904, Plain bonds secured by Lynn
& Boston mtge of 1894and property is practically dismantled. Has outstanding $50,000 of 5%
Lynn & Boston, deb
1892
5 M-S
186,000 Mch 1 1912
1st mtge. gold bonds due Feb. 1 1921. Formerly owned 5.822 miles of
oeag, deb
Naum
dk
6 M-S
1890
24,000 Sept 1 1010
track.
6
1891
J-J
10,000 July 1 1911
(6) Westboro & Hopkinton Street Ry.
Gloucester Es'x 6: Bev 1st M,1 1896
5 g J-D
125,000 Dec 1 1916
ORGANIZATION.-Incorporated in 1901,and owns road from Westboro
$125,000 ($1,000), gold_c• Interest at Amer. Tr. Co., Boston, Trustee
to Hopkinton,6.431 miles. Stock,$40,000; par,$100. Bonds, first mtge.. Wakefield & Stoneham 1st 1895
5 g M-S
150,000 Mch 1 1915
5%,$40,000, due Nov. 1 1922. Current liabilities Sept. 30 1907, $10,100.
mtge, $150,000, gold___:c
Earnings for year ending Sept. 30 1907, gross, $13,917; net, $2,709; fixed
The last issue is redeemable at 105 after March 1 1900. Interest at Amercharges, $2,258; surplus, $541.
ican Trust Co., Boston, Trustee.
The Mystic Valley St. By. has out $60,000 gold 5s, due Jan. 1 1919.
MASSACHUSETTS ELECTRIC COMPANIES.-Electric light and street
The Rockport St. By. has outstanding $12,500 6% coupon notes due Oct.
railways.
ORGANIZATION.-Formed in May 1899. Is not an incorporated 15 1916, interest payable April and October,
The Gloucester & Rockport has outstanding $10,000 6% coupon notes
company, but a voluntary association managed by a board of fifteen trus•
tees, who hold the title to its assets. Messrs. E. Rollins Morse & Bro. and dated Feb. 1 1895 and due Feb. 1 1915,
Tucker, Anthony & Co. of Boston, who promoted the combination, in June
LOWELL LAWRENCE dc HAVERHILL.
1899, in offering some of the stock for public subscription ($1,000 of preSTOCK AND BONDS-. Date,
Interest, Outstanding. Maturity.
ferred and $500 common was offered for $1,050), stated that "the Declara- Stock ($100), common
Was exchanged for Lynn 6: Boston.
tion of Trust contains strict provision8 against the creation of any Indebted- Merrimack Valley Street Ryl 1891
5
g A-0
$342,000 April 11911
BY}
ness whereby any shareholder or trustee can beheld to any personal lia1st mtge, gold
at Inter. Tr. Co., Trustee, Boston.
bility." Comprised originally between 30 and 40 separate properties, but Lowell Lawrence 6: Haverhill}Interest
5 g J-D
1893
902,000 June 1 1923
through consolidation there are only two operating companies,namely the
1st mtge. $1,900,000, gold, Subj. to call for the sink, fund at 105 & int.
Boston & Northern St.Ry. and the Old Colony St. By., besides the Hyde
c• Int. at Amer. Trust Co., Trustee, Boston.
Park Electric Light Co.The following is a list of the companies controlled, People's
St Ry, West New-} 1898
l
5 J-J
• 64,000 Jan 1 1928
with their share capital, Sept. 1 1908:
bury, Mass, 1st mortgage Interest. at State Street Trust Co., Boston.
bonds, assumed
COMPANIES CONTROLLED SEPT. 1 1008.
Shares.
Low. Law. & Hay. Consols of 1893 are reserved for Merrimack Valley
Shares.
Boston & No. St. Ry. Co__ _ _110,4321 Hyde Park Elec. Light Co__ _2_,_875 bonds when due.
Lowell & Sub St By 1st mtge,1 1891
Old Colony Street By. Co_.
. 77,1221
5 g J-D
1,000,000 Dec 1 1911
1891, gold
Total
Of Int. at the Amer. Tr. Co., Boston, Trustee.
190,429
Of the above 190,429 shares, practically all were at the date given owned
Bonds.-Of the $15,000,000 Boston & Northern bonds, $7,941,500 are
by the Massachusetts Elec. Companies. The system comprises electric reserved to retire prior liens. These bonds have no sinking fund and are
street railway lines in 22 cities and 70 towns in Eastern Massachusetts and not subject to call. Of the $5,379,000 first mortgage bonds of the Lynn &
New Hampshire and Rhode Island. The companies given cover the greater Boston RR.,$363.000 have been canceled, and the unissued balance is to be
part of the street railway mileage north of Boston as far as Nashua, N. H. used to take up other bonds. The Merrimack Valley St. By. 1st mtge
and Newburyport and Gloucester, Mass., and south as far as Fall River and bonds are redeemable at option at any time after 10 years from their date.
New Bedford, Mass., and Newport, R. I., connecting directly with the
DIVIDENDS.-From 1880 to Oct. 1809, incl 8%., yearly; in 1900, 77
0;
street railway system of Boston.
Various electric-lighting companies
in 1901, %; in 1902, 6%; in 1903, 5%; in 1904. 2% %; in 1005, 2%; in
doing business in the same section are also Included.
5%; in 1907, 5%,
1906.
STOCK AND BONDS.-The share capital is represented by certificates
ROAD.-Comprises the lines of the Mass. Electric Companies north of
of participation,which give the owners a proportionate interest In the shares
Boston, embracing 460.791 miles of main and 2d main line and 479.405
held by the trustees. Both classes of shares are reported exempt from taxa
tion in Massachusetts. Listed on the Boston Stock Exchange In April 1901. miles of track-all owned.
45,500,000 preferred stock was authorized May 29 1902 and sold to a syndiANNUAL REPORT.-For fiscal year ending Sept. 30 1907, of all
cate. For consolidated balance sheet of companies controlled, see V. 85, p. panies included in the Boston & Northern St. Ry.: Gross, $4,618,992;comnet,
1457; this balance sheet shows $19,042,900 aggregate stock of the controlled $1,652,689; other income, $11,314; charges, $1,036,077; dividends (5%),
companies Sept. 30 1907, $17,882,000 funded debt Sept. 30 1907 and $552,160; surplus, $75,766.
$2,685,000 notes payable to outsiders.
OFFICERS.-Pres., Patrick F. Suillvali, Lowell: Treas., C. R. RockRate.
Outstanding, Dividends. well. V. 81, p. 1846; V. 82, p. 1155; V. 4, p. 995; V. 86, p. 720,
Date.
1223.
Common stock, par $100
$14,293,100
Boston & Chelsea Street Ry.-Owns 4.370 miles of track. Leased
(a)
($14,293.100)
Lynn & Boston Street By. Co. at $7,260 per annum, equal to 6% on
Pref. stock, par $100 ($20,20
4 J-J
557 400 July '04 2% to
,,,
$121,000 stock, payable A&O.
557,400) 4% cum_ _ _
Coupon notes, $3,500,000: 1905
(6) Boston & Revere Electric Street Ry.
414 g J-J
3,500,000 July 1 1910
red at 102 any int date Interest at Old Colony Trust Company
ORGANIZATION.-Incorporated June 24 1889. Leased from July 1
($1.000). gold
1 Boston, Trustee.
1895 for 99 years to Lynn & Boston (now Boston & Northern), which guar-
SEPT:, 1908.
ELECTRIC RAILWAYS
Weed Int. on the $50,000 old bondsof 1890(which have since been retired),
and now guarantees Interest on the $50,000 new mtge. of 1908 given bdow
and dividends on $50,000 stock from July 1 1898 at 5% per annum.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock (par $100)
5 J-J
350.000 See text.
Bost. & Revere Elec St Ry1 1908
5 g M-S
50,000 Sept 1 1928
$50,000 gold ($1,000)_ _..c"'Int. at Amer.Trust Co., Boston, trustee.
Bonds.-No,sinking fund, but bonds may be called on any Interest date
on six weeks notice.
ROAD.-Total track, 3.812 miles.
(c) East Middlesex Street Ry.
ORGANIZATION.-Owns 18,6 miles of track; sidings, switches, &c.,
0.8; total, 19.4 miles. Leased May 1 1893 to Lynn & Boston (now Boston
& Northern) for 99 years at'a rental till May 1 1896 of $18,000 yearly In
addition to axed charges; then till May 11901, $24,000 yearly; and for remainder of lease, $30,000 yearly. Eight per cent dividends had been paid,
but on May 1 1901 were increased to 10%.
STOCK AND BONDSDate.
Interest.
Outstanding. Maturity.
Stock ($100) $300,000 .. ___
10
See text.
$297,700
Plain bonds, Int. gu. (end)___ 1898
5 M-S
120,000 Sept 1 1918
Refd bonds, int. gu. (end)___ 1902
4 J-J
100,000 Jan 1 1922
Interest at State National Bank, Boston.
The lessee In the lease agreed to stamp both issues of the bonds with a
guaranty of the interest-principal is not guarantecd.-V.67, p. 482.
(d) Nashua Street Rail wa y.-Trolley.
•
ORGANIZATION.-Incorporated Aug. 14 1885. On July 1 1900 was
leased to the Lowell &Suburban for 99 years,and lease now runs to Boston
do Northern through consolidation.
Rental.-DIvIdends are payable Jan. and July at the rate of 4% in 1901
5% in 1902 and 6% for the remaining 98 years of lease.
STOCK, BONDS, &c.Interest. Outst'd'g. Div.00maturitY
Date.
Stock, $325,000 (par $100)
$325,000 See text.
First mortgage, $150,0001 1901
150,000 Oct 1 1931
4 g A-0
($1,000), gold
OfInt. at Old Colony Tr. Co., Boston, Trustee.
Bonds.-Entire issue may be called on and after Oct. 1 1906 at 105 and
accrued interest. Interest guar. by the Boston & Northern St. Ry. 2.
ROAD.-Operates 15.52 miles of track.
(e) Winnisimmet (Street) RR.
ORGANIZATION.-Owns 2.06 miles of track. Leased to the Lynn &
Boston for 999 years from 1880 at $3,000 per annum. Capital stock is $50,000; par *50. Dividends in 1894 to 1907 inclusive 6% per annum.
(2) Old Colony Street Ry.-(See Map page 13).-A trolley road.
ORGANDZATION.-This was formerly known as the Brockton Street
Railway, but on Feb. 15 1901 name was changed as above. The Brockton
Street Ry. was a consolidation of the Broctkon Street Ry., East Side
Brockton & Holbrook and Whitman Street companies. In 1900 was consolidated with the Boston Milton & Brockton, the Brockton Bridgewater &
Taunton, the Brockton & East Bridgewater and the Taunton & Brockton.
Subsequently was also consolidated with the Quincy to Boston and the New
Bedford Middleborough & Brockton.
In Nov. 1900 Mass. RR. Commissioners approved proposition to purchase
the South Shore & Boston and the West Roxbury & Roslindale. The South
Shore do Boston comprised the Braintree & Weymouth Street By., the
Bridgewater Whitman & Rockland, the Hingham Street By. (the latter
being a consolidation of the Hingham,the Hull and the Nantasket Electric)
the Hanover Street By. and the Rockland & Abington Street By. The West
Roxbury & Roslindale St. Ry. had previously absorbed the Norfolk Suburban, the Norfolk Central and the Needham & Boston.
In Jan. 1901 also received authority to acquire the Globe St. Ry.(after the
Globe St. By. had first absorbed the Dighton Somerset & Swansea St. By.,
the Taunton St. By. and the Providence 6: Taunton). On July I 1901
leased the Newport do Fall River Street By.
In Nov. 1907 RR. Commission granted permission to Issue $200,000,
additional ref. mtge. bonds,which will make amount outstanding $3,092,000.
Shareholders March 17 1908 authorized an issue of $750,000 6% cumulative
preferred stock, said stock to be subject to call at 120. V. 86, p. 721.
Mass. RR. Comm. has been petitioned for permission to issue same.
Lease.-In 1003 the Boston Elevated By. teased all this company's track
In the City of Boston for 99 years. The lease provides for the payment-of
all taxes and also 6A % on replacement value (appraised at $353,070, less
the rental of certain short pieces of track appraised. at $13,866) of property
leased as of date Feb. 16 1903 and 4% on all additions and betterments.
Freight rights.-In 1907 Mass. Commission granted authority to carry
freight and express.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock (par $100)
$7,712,200 In '07, 4%
Ref M $10,000,000, gold' 1904
4 g J-J
2,892,000 July 1 1954
41,060)
csjInt. at Old Colony. Tr. Co., Boston, Trustee.
Beckt'n St By bondsi All 1 1890
4A A-0
33,000 April 1 1910
Bonds, gold
equally 1892
5 g J-J
15,000 Jan 1 1912
Brockton (Consol) St
1894
se5 g A-0
689,000 Oct 1 1924
Ry 1st M $750,- cured
Subject to call at 105 and interest.
000, gold
Interest at State Street Trust Co.
Boston Milton do Brocktonl 1899
5 J-J
100,000 July 1 1919
1st mtg bonds, $100,000_ _ FInt. at Inter'l Tr. Co., Boston, Trustee.
Bec.kt'n Bridgewater & Taun 1897
5 g F-A
200,000 Aug 1 1917
1stM,g,$200,000($1,000)0 Int. at Am. Tr. Co., Boston, Trustee.
Brock & E Bridgewater 1st 1898
5 g F-A
30,000 Feb 1 1918
M,g, $30,000
Int. at Am. Tr. Co., Boston, Trustee.
Taunton & Brockton istl 1897
5 F-A
100,000 Aug 1 1917
mortgage, $100,000
tInt, at State St. Tr. Co., Boston, Trustee.
N Bedford M'dieboro&Brock 1900
5 g J-J
325,000 Jan 1 1920
1st M,$325,000($1,000), g_ Int. at Am. Tr. Co., Boston, Trustee.
Braintree mortgage
35,000 July 25 1914
6 J-J
f 1894
1State St. Trust Co., Boston. Trustee.
Globe Street Railway Securities.
Interest. Outstanding. Maturity.
Date.
1st M, $750,000,gold. $1,000{ 1892
$750,000 April 1 1912
5 g A-0
each
c• Redeemable at 105 and int. after April 1 1902
Int. at Mercantile Tr. Co., Boston, Trustee.
Debentures, g ($1,000)____cr 1892
550,000 July 1 1912
5 g J-J
Debentures, g ($1,000)____ci 1894
125,000 Mch 1 1010
5 g M-S
Int. on the Globe Street debentures is payable in New York at New York Trust Co.
Dighton Somerset & Swan) 1898
109,000 Dec 1 1915
5 g J-D
b'ds. $125,000, g,5 1, red }Int. at International Trust Co., Boston, Tr.
105, after June 1 '01(11,0001
Sinking fund is $3,000 a year.
Taunton St By 1st M
350,000 Jan 1 1014
1 1894
5 J-J
Debentures
Do
200,000 Mch 1 1914
1804
5 M-S
I Int.on Taunton Street By.bonds payable at
I Am. Trust Co.. mortgage trustee, Boston.
Prov. & Taunton St By 1st gl 1898
150,000 Sept I 1918
5 g M-S
($1,000), author'd $200,00 J American Trust Co., Boston. Trustee.
South Shore & Boston St. Railway Securities.
Date,
Interest. Outstanding. Maturity.
Bonds, 1st M ($1,000), gold,) 1899
$335,000 Aug 1 1919
5 F-A
$1,000,000
Int'. at American Trust Co., Boston, Trustee
Braintree de Weymouth 1st 1897
80,000 Mch 1 1917
5 g M-S
Int. at International Tr. Co., Boston,Trustee
M, gold, $80,000
Bridgewater Whit & Rock, 1897
85,000 Nov 1 1917
5 g M-N
1st mtg, gold, $1,000 ___c• Int. at American Trust Co., Boston.
g M-N
Rockland & Abington, 1st 1895
100,000 May 1 1915
mtg $100,000, gold_ _ _c* 'Int. at Old Colony Tr. Co., Boston, Trustee.
West Roxbury & Roslindalo St. Railway Bonds.
Date.
Interest. Oustanding. Maturity.
5 g M-S
$137,500 Sept 11018
1st M.8150,000, g,s f ($500).1 1896
red at 103 afterSep 1 '01_csjInt. at Internat. Trust Co. Boston, Trustee.
5 g J-J
Norfolk Central 1st mtg,f 1898
• 41500 July 1 1918
,
(Subject to call after July 1 1903.)
gold, $100,000
(Int. at Internat. Trust Co. Boston, Trustee.
5 J-J
Norfolk Suburban, 1st mort4 1894
59%00
0
July
1914
'Int. at Internat. Tr. Co., Boston, Trustee.
gage
Bonds.-Of the new $10,000,000 Old Colony Street lt,y. mortgage, $4,609,500 are reserved for prior liens. These bonds are not subject to call.
Dividends.-Bate 1892 to 1898 inclusive was 6%;in 1899, 8%: in 1900,
%;in 1901, 6%;in 1902, 5%; In 1903, 5%; in 1904, 3%;in 1905, 2%
In 1906, 2%; In 1907, 4%.
ROAD.-Consolidated system operates 353.308 m. main and 2d main line
(Including the Newport & Fall River St. Ry.) and 398.615 miles of track
(which includes track leased to Boston "L"). comprising the lines of the
Maga. Electric Companies south of Boston.
J
15
REPORT of consolidated companies (including Newport to Fall River)
for year ending Sept. 30 1907, gross, $2,781,955; net, $994,355; other income, $124,708; charges, $714,792: dividends, $308,488 (4%); surplus,
$95,783. V. 81, p. 1846; V. 82, p. 870;V. 86, p. 721.
(a) Newport & Fall River Street Ry.
ORGANIZATION.-Organized Jan. 1898. July 1 1900 consolidated
with Newport Street By. Has also consolidated with Newport Illuminating Co. Embraces 20.59 m.of track In and between Newport and Fall River:
also electric lighting. Was leased on July 1 1901 for 99 years to the Old
Colony Street By. for a rental of 6% per annum and interest on bonds.
The Mass. Elec. Companies disposed of its holdings in Feb. 1902.
STOCK. BONDS, ETC.- Date,
Interest Outstanding. Maturity
Stock, par $100
$900,000 See text.
J-J
Newport & Fall River 1st 1898
5 F-A
240.000 Aug 1 1918
mortgage
American Trust Co., Boston, Trustee.
Consol mortgage, $1,000,000, 1904
4A J-J
477,000 July 1 1954
gold ($1,000)
c*&r Int. at Am. Trust Co., Boston, Trustee.
Newport St Ry 1st M, $50,- 1890
5 J-D
50,000 Dec 1 1910
000 ($500)
c Interest at the Indust. Trust Co., Prov., R.I.
New Ill Co 2d mtg, gold.----6g
63,500 Oct 1 1925
Bonds.-Of the new m
.
ortgage for $1,000,000. $354,000 are reserved to
retire prior liens and $169,000 are reserved for future additions at 50%
of cost. Not redeemable. V. 79, p. 213, 501, 1462.
EARNINGS of the Old Colony St. Ry. from operation of the Newport
& Fall River St. By. for year ending June 30 1908 were: Gross, $280,688;
net, $136,616; charges, $44,723; surplus, $91,893.-V. 56, p. 1249; V. 79,
p. 213, 501, 1462; V. 86, p. 421.
BOSTON & WORCESTER ELECTRIC COMPANIES.
ORGANIZATION.-This is a voluntary association organized under a
trust agreement dated Dec. 29 1902. Its property consists of the capital
stock and $300,000 "note payable" of the Boston & Worcester Street Ry.
It has issued 33,936 4% cumulative preferred shares and 34,614 common
shares, no par value; but in case of liquidation preferred shares receive $10()
each before the participation of common. In Jan. 1905 was listed on Boston Stock Exchange. Stock was increased to present amount by the issue
in July 1906 of 6,000 shares common and 6,000 pref., which was offered to
shareholders at $105 for a block of $100 pref. plus $100 coin. On July 15
1908 shareholders authorized a note issue (see below). V. 87, p. 96, 165.
STOCKS AND BONDS- Date.
Interest. Outstanding. Maturity.
Coupon notes $600,000 gold) 1908 6 J-J
$300,000 July 1 '11
($1,000)
c*f City Trust Co. Boston, trustee.
Notes.-Notes are secured by deposit with'
trustee of a majority (10,150
shares) of Boston & Worcester St. By. stock. Subject to call as a whole
on any interest date after July 1 1909 at 102 and interest. V. 87, p. 165.
REPORT.-For year to Sept. 30 1907 dividends received from 1.3. & W.
St. By. stock, $103,494; miscellaneous income, $36,060; total Income.
$139,554; expenses, $2.153; dividends, $135,744; surplus, $1,657.
DIVIDENDS.-FIrst dlv. on pref. stock, $2, paid July 1 1904; $2 Jan.
1905 and $2 July 1 1905. In 1906, $4. In 1907, Jan., $2. In 1908,
Jan., $2, July, $2. .
OFFICERS.-Pres., A. E. Childs; V.-P., William M. Butler; Sec. and
Treas., George A. Butman.-V. 83, p. 36, 154; V. 84, p. 101; V. 85, p
1458; V. 86, p. 601; V. 87, p. 96, 165.
(1) Boston & Worcester Street Ry.-Trolley.
ORGANIZATION.-Incorporated in Massachusetts on Nov. 16 1901.
Franchise perpetual. Owns a double-track Line between Boston and Worcester and has purchased all franchises and property of the Framingham Union
St. By., Framingham Southborough & Marlborough St. By. and the Marlborough & Framingham St. By. In March 1907 Mass. RR. Commission
granted right to do an express and freight business over entre line. In.
Oct. 1907 RR. Commission authorized issue of $300,000 additional stock
(V. 85, p. 1143) and in Nov. 1907 $300,000 additional bonds to provide
for floating debt(V.85, p. 1268), both Included in outstanding totals below.
Interest. Outstanding. Maturhy.
STOCK AND BONDSDate.
Stock,($100)
$2,025,000 July '08, 3%
J-J
Bost & Wor 1st mortgage,$2,-1 1903 4 A g F-A 1,910,000 Aug 1 1923
500,000, gold ($1.000)__Of Interest at American Trust Co., Boa., TruesFram Union 1st mortgage_
47,000
1909
5
Fram So & Marl 1st mtg ____J
60,000 Jan 1 1919
5
Unterest at American Trust Co., Bos., True.
Notes payable Oct 1 1907
*1,062,204
*Includes $600,000 notes payable held by B. & W. Electric Cos. which
have.sInce been reduced to $300,000 by new issue of $300,000 stock mentioned above. Also Includes $462,205 notes held by banks, to retire which
the $300,000 additional bonds above mentioned were authorized.
Dividends,-Paid 3% July 1904; in 1905, 8%;in 1906. 6%;in 1907,6%.
REPORT.-For year ending Sept. 30 1907: Gross, $531,560; net, $258,196; charges, $151,662; dividends, $103,500; surplus, $3,034.
ROAD.-Owns and operates 78 A miles of track, a considerable portion
over private right of way, between Boston & Worcester. An extension
to Natick is to be built. Rails, 75-1b. Has 77 cars.
OFFICERS.-Pre,s., William M. Butler; V.-P., A. E. Childs; Sec. and
Treas., Geo. A. Butman.-V. 81, p. 1722; V. 85, p. 220, 863, 1143, 1268,
1338. 1458; V. 86, p. 601.
BOWLING GREEN, OHIO.
LAKE ERIE BOWLING GREEN & NAPOLEON RY.-A trolley road.
ORGANIZATION.-Incorporated in Ohio in 1902.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Common, $750,000, ($100)
$365,000
Pref, $250,000,($100)6% n-c_
250,000
1st M.$1,000,000, gold ($5001 1903
5 g M-N
231,000 Nov 1, 1933
and $1,000)
•
cs lint. at Linton Tr. Co., Detroit, Trustee.
Bonds.-$756,500 bonds are reserved for extensions at $17,000 per mile
and $12,500 in company's treasury. No sinking fund and bonds are not
subject to call.
EARNINOS.-For year ending Dec. 31 1907, gross, $55,383; net, $25,892.
ROAD.-Operates 20 miles of track between Bowling Green, 0., and
Woodville; 40 miles additional projected, of which 4-5 mile completed and
right of way secured for about 12 miles. Standard gauge, 60-lb. T rail.
Connects at Bowling Green with the Toledo Bowling Green & Southern
Traction Co., at Pemberville with the Toledo Fostoria & Findlay By. and
at Woodville with the Lake Shore Elec. By. Furnishes electric light and
power at Bowling Green. as well as hot water heating.
OFFICERS.-Pres., John R. Jones; V.-P. and Gen. Mgr., E. H. McKnight; Sec. .Chas. H. Draper; Treas., B. C. Harding.-V.78, p. 769.
BRATTLEBORO, VT.
TWIN STATES GAS & ELECTRIC CO.
ORGANIZATION.-Incorporated in Connecticut on Aug. 26 1906 and
acquired the Brattleboro Street Ry. the Brattleboro Gas Light Co. and the
Dover Gas Light Co. V. 83, p. 662.
Control is held by the National
Light. Heat & Power Co.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
Common, $1,500,000, ($100)
$1,250,000
Preferred, $250,000 ($100)
150,000
1st and ref M, $1,500,000, gl, 1906
557,500 Oct 11925
4% g A-0
($500 and $1,000)
c• Int. at Knickerbocker Tr. Co., N.Y.,Trustee
Dover Gas Light con mort-1 1905
5
175,000 Sept 1 1925
gage, $500,000
JUnion Safe Dep. & Trust Co., Trustee.
Union Gas & Elec. mortgage,) 1897
250,000 Sept. 1 '17
$250,000
jUnion Safe Dep. & Trust Co., Trustee.
5
Brattleboro Gas L Co mtg_ _ 1903
75,000 Feb 2 1923
Bonds.-Of the $1,500,000 new bonds. $500,000 are reserved for prior
liens and $442,500 for acquisitions, extensions and improvements. No
sinking fund and bonds are not subject to call.
ROAD.-Operates 5 miles of track in Brattleboro, in addition to gas and
electric-light plants in Brattleboro, Vt. and Dover, N. H.
OFFICERS.-Pres., I. L. Nfeloon; Vice-Pres., Wm. C. Pratt; Sec. and
Treas., Geo. D. Martin.-V. 83, p. 499.
BRISTOL, CONN.
BRISTOL & PLAINVILLE TRAMWAY CO.-A trolley road. Also
furnishes electric light and gas.
ORGANIZATION.-Organized Sept. 21 1893. A gas plant was completed in 1906. Franchises perpetual. In August 1906 a majority of the
stock was pooled for 5 years.
In August 1908 a stock dividend of 50% was declared, increasing outstanding amount to $375,000. V. 87, p. 96, 414.
MAP OF THE
BROOKLYN RAPID TRANSIT CO.
SYSTEM.
SURFACE AND ELEVATED LINES
AND FRANCHISES.
Surface Railroads shown thus
IT
Elevated
" CI=MCM•m(;)
Franchises shown
atian
0‘
41
•a> \S\
•••••az,
•-•••••
leN\
tt
i\ • A* \ott
SAVAVTIVil DIUIDarla
CANARSIE
BAY
AS:via,
_4v:,v_,...,;....„,„.
fi
.
(
1
)
of.
I„
....,%,---r-:-.asor
irift4. z
.0110"Ito
rogaravr.s
..,:a
it
IMI
tiir
4 .
lin
IstP"AMHTON
:4111:11:114
.1441:
4-- 15121-16
11411141.1"%14114111111411
WOW'
%%
111
•
00„.4,4
, \- 1,/,"•ButOrmil
:44
SEPT., 1908.1
ELECTRIC RAILWAYS
Maturity.
Interest. Outstanding.
Date.
STOCK AND BONDS*375,000 1907-086%
Stock, $1,000,000 ($100)340,000 Nov 1 1945
1st mortgage, $500,000, gold( 1905 4% g M-N
i Interest at Bristol National Bank, Bristol.
($500 and $1,000)
(Treasurer of State of Connecticut, Trustee.
Bonds.-Are subject to call after 5 years at 102; after 10 years at par.
EARNINGS.-For years ending June 30.
Railway
Railway Gas de Elec. Interest
Net.
T,tg., Net. oc. Taxes. Dividends. Balance.
Gross.
Year$23,589
$27,044
$87,570
$30,660
$15,000
$19,115
1908
22,934
35,043
25,781
15,000
84,860
22,890
1907
ROAD.-Operates about 13% miles of track laid with 56 and 60-lb. T rail.
from Bristol to Plainville, with branch to Lake Compounce and to Terryville. Standard gauge, 29 cars and 3 snow plows.
OFFICERS.-Pres., Miles L. Peck; V.-P. N. E. Pierce; Sec. and Treas.
M. L. Tiffany; Gen. Mgr., G. E. Cockings.-V. 81, p. 776; V.87,p.96,414.
BRISTOL, TENN.
BRISTOL GAS & ELECTRIC CO.-Trolley, gas and
electric light.
ORGANIZATION.--Incorporated in N. Y. to consolidate the Bristol
Gas & Electric Co. (Va.) and Bristol Belt Line Ry. Co., all the stock and
bonds of which company it acquired. Franchises are perpetual.
Date.
STOCK AND BONDSInterest. Outstanding. Maturity.
Stock, $300,000 ($100)$248,500
Jan 1923
1st mortgage, $375,000, gold) 1903
273,000
5 g J-J
$1,000)
($500 and
c&rlInterest at Metropolitan Tr. Co., N.Y.,Trus.
Bonds are subject to call on any interest day at 110 and interest.
EARNINGS.-For year ending Dec. 31 1907 for both Bristol Gas &
Electric Co. and Bristol Belt Line Ry., gross, $70,142; net, $24,241; fixed
charges, $13,626; surplus, $10,615.
ROAD.-Operates about 5 miles of track.
OFFICERS.-Pres., B. L. Dulaney, Bristol; V.-P., C. B. Hobbs, New
York; Sec. and Treas., N. D. Bachman Jr., Bristol; Supt. and Purch. Agt.,
S. M. Vance, Bristol.-V. 77, p. 1748; V. 83, p. 627.
BROOKLYN, N. Y.
16).
BROOKLYN RAPID TRANSIT-(See Map, page
per plan in "Chronicle,"
ORGANIZATION.-Organized Jan. 18 1896,
V. 60, p. 1145, to succeed to the property of the old Long Island Traction
Company foreclosed, syndicate headed by the late ex-Governor Flower
having then bought control. Is not a railroad corporation, but was organized under the Business Corporation law of New York to hold the stocks
and bonds of railroad companies and to aid in the construction and equipment of railroads. Franchises are perpetual.
ASSETS.-The following is a statement of the stocks and bonds owned
by the Brooklyn Rapid Transit system June 30 1908.
Stocks
$200,000
Entire capital stock Brooklyn Heights RR. Co. (par)
Entire capital stock Bkln. Q'ns Co. & Suburban RR. Co.(par). 2,000,000
650,000
Entire stock Sea Beach By. Co., par value
8,500,000
Entire issue of the corn. stock of the Nas. Elec. RR. Co., par
63,672.75 shares out of 65,000 shares of the 4% cumulative pref.
6,367,275
stock of Nassau Elec. RR. Co., par
47,859.85 shares out of 50,000 shares of the 5% non-cumulative
4,785,985
pref. stock of the Brooklyn Union Elev. RR. Co., par
125,308.31 shares out of 130,000 shares of the common stock
12,530,831
of the Brooklyn Union Elevated RR. Co., par
Entire capital stock of Coney Island ec Gravesend Ry. Co. outstanding, par
350,000
146,228
1,462.28 shares Brooklyn Rapid Transit Co. par
500,000
Entire capital stock of South Brooklyn By. (par)
9,800 shares out of 10,000 of the American Railway Traffic Co.
(owned by Transit Development Co.), par
980,000
Entire capital stock of the Transit Development Co., par
500,000
'Entire stock of the Canarsie RR. Co. (owned by the Transit
Development Co.), par
250,000
50,000
500 shares of the Bridge Operating Co., par
$37,810,319
Bonds
$2,000,000
*1st M 5% bonds Bklyn. Queens Co. & Sub. RR.(par)
50,000
1st con. M Bklyn. Q'ns Co.& Sub.(owned by Bklyn. H'ts Co.).1,627,000
*1st mortgage 5% bonds Brooklyn City RR. (par)
600.000
Refunding gold mtge. 4%, Brooklyn City RR
30,000
Gold 5% bonds Brooklyn
Rapid Transit
8,793,000
Ref mtg 4% bonds Brooklyn Rapid Transit Co
979,000
Ref mtg 4% bonds B. R. T. (owned by Nassau El.
2d mtg. 5) bonds Bklyn. Bath dc West End Ry. (owned by
1.000
Transit Development Co.)
379,000
Consol mtg 4% bonds Nassau Elec RR
Consol mtg. 4% bonds Sea Beach kty. (owned by Nassau Elec.
22,500
RR. Co.)
$14,481,500
*Composing guaranty fund for performance of Brooklyn City RR. Co.'s
lease.
The Brooklyn City RR. Co. is held under a 999-year lease dated Feb. 14
1893. guaranteeing all fixed charges, organization expenses, taxes and 10%
dividend on $12,000,000 of stock. The lease is nominally to the Brooklyn
Heights RR. Co., but the Brooklyn Rapid Transit Co. owns the entire capital stock of the Brooklyn Heights Co. In 1898 the Heights Company
leased the Brooklyn Queens County & Suburban RR. The lease was renewed year by year, rental being fixed charges, taxes and organization expenses. On July 1 1901 the B. Q. C. & S. began operating separately again.
On April 1 1899 the Heights Company temporarily leased the Nassau Electric RR. Later permanent leases were made, but on June 30 1904 presumably in consequence of a decision (V. 79, p. 102) compelling the Issuance of
transfers, the lease of the Nassau Electric RR. was canceled.
In Aug. 1906 the company's right to charge a 10-cent fare to Coney Islamt
was disputed and riotous proceedings resulted. See V. 82, p. 379, 435, 686,
In Jan. 1907 Court of Appeals sustained the company's contention as to the
legality of the 10-cent fare. See V. 84, p. 101.On May 23 1908 Gov.
Hughes vetoed a bill which, though general inform, was intended to provide
a 5-cent fare from Manhattan to Coney Island. V. 86, p. 1342.
The Brooklyn Heights RR.In April 1899 leased for the period of 099 years
the Prospect Park & Coney Island RR. (see terms under the latter), the
New York & Coney Island RR. and the Prospect Park & South Brooklyn
RR., but the leases of these companies were assigned in March 1907 to
South Brooklyn Rwy., which had been acquired by purchase in Feb. 1902.
V. 74, p. 470. The South Brooklyn Rwy. owns the double-track road
(1% miles) extending from New York Bay, near 38th St., Brooklyn, to 38th
near 9th Ave., Bklyn, and in June 1907 increased its stock from
5150.000 to $500,000.
St.,
In Nov. 1905 purchased at foreclosure for $262,000 the road of the Brooklyn & Rockaway Beach RR., 314 miles, from East New York to Canarsie,
and later organized the Canarsie RR. Co., with $250,000 capital, to operate
the road. V. 82, p. 1155. The entire stock of this company is owned by
the Transit Development Co. Through elevated train service from the
Broadway Ferry, adjoining the Williamsburgh Bridge, to Canarsie was instituted July 30 1906. V. 83, p. 271; through service over the bridge to
Delancey St., New York, was put in operation on Sept. 16 1908, the connection from Broadway Elevated to Bridge structure having been completed.
On May 21 1904 the Brooklyn Heights Railroad Co. signed an agreement with the city for operation of trolley cars over the new Williamsburg Bridge. See V. 78, p. 2013. 2386. Later the Bridge Operating Co. was formed, with $100,000 capital, to operate local service on the
bridge. See V. 79, p. 626. Through surface cars are operated over bridge
by Brooklyn Heights RR., Nassau Elec. RR. and B'klyn Queens Co. & Sub.
RR.Surface cars first began running across this bridge in Nov. 1904. V.
79, p. 2084.
In Oct. 1907 application was made to Public Service Commission for permission to build a four-track elevated road along Flatbush Ave. extension
to Manhattan Bridge. In addition plans include construction of additional elevated tracks to connect with Myrtle Ave. line. Extensions will
cost about $8,000,000. V. 85, p. 1082. Commission has matter under
consideration.
The Transit Development Co. was organized in April 1903 under the
Business Corporation law, with $25,000 capital, and is owned exclusively
in the interest of the Brooklyn Rapid Transit Co. It is authorized to
manufacture and sell power and to do general contracting work. On
March 1 1907 special arrangement was made by which the concern furnishes
17
power and takes charge of the maintenance and repair of all the railway
properties in the Brooklyn Rapid Transit system, including their equipment. V.84,p. 569. In June 1907 capital stock was increased to $500,000.
Tne American Railway Traffic Co. was Incorporated in Jan. 1904 with a.
capital of $1,000,000 (of which $980,000 is owned by the Transit Development Co.) for the purpose of hauling and disposing of city's ashes and refuse.
Division of Territory with Long Island RR.-At an investigation by the
Public Service Commission in Nov. 1907 It developed that on April 1 1899
an "agreement of alliance" had been entered into with the Long Island
RR. for division of territory. "Long Island territory" is described as
part of Queens County and the counties of Nassau and Suffolk, while
"Transit territory" includes all of Kings County and part of Queens.
Besides this, there Is neutral territory consisting of College Point, Flushing,
Jamaica and the islands In Jamaica Bay, into which neither may enter
without the consent of the other.
Re-Classification of Systetn 'Ann.-Owing to the opinion of the Court of
Appeals in its decision upholding the right of the Brooklyn Heights RR. to
charge 10 cents fare to Coney Island, to the effect that Article IV of the
Railroad Law relates only .to street surface railroads and that different
provisions govern elevated and steam surface railroads, a re-classification,
of the roads of the system was made in March 1907 so as to limit the functions of each railroad to the operation of its own character of railroad.
Accordingly the Brooklyn Union Elevated now operates only the elevated
roads and the street surface railroad corporations operate street surface
roads only. As part of this arrangement the leases of the Brooklyn Union
Elevated
the Sea Beach Ry. and the South Brooklyn Ry. to the
Brooklyn RR..
Heights RR. were terminated. The leases of the Prospect Park
& Coney Island Ry., the New York & Coney Island Ry., the Prospect
Park & South Brooklyn By. were assigned to the South Brooklyn -Ry.
V. 84, p. 569.
Transfers and Fares.-For decisions as to transf6s, see V. 79, p. 2204,
2587. Also see V. 82, p. 1323. In Aug. 1907 the Appellate Division of the
Supreme Court in Brooklyn held that cumulative penalties could not be
collected for refusal to issue transfers-see V. 85, p. 404. In June 1906
transfer system was greatly extended. For decision as to expired franchises,
see V.82, p. 1101.
Mortgages of Constituent Companies to Secure Advances by Brooklyn Rapid
Transit.-In May 1907 the New York State RR. Comm. consented to the
Sea Beach Ry., the Canarsie RR. and the South Brooklyn Ry. making
mortgages of 52,000,000, $2,000,000 and $4,000,000 respectively to secure
certificates of indebtedness issued by those companies to the Brooklyn
Rapid Transit for moneys advanced for additions, betterments, &c. In
June 1907 Brooklyn Union Elevated authorized a mtge. for $20,000,000
and the Nassau Electric for $5,000,000 for same. purpose; but in July 1908
Public Service Commission denied application for the approval of these latter two mortgages. See particulars V.87, p. 224. No bonds will be issued
under any of these mtges., which are created simply to secure the certificates
of indebtedness as issued from time to time. The certificates cannot be
issued at less than par and are deposited under the Broolkyn Rapid Transit
first refunding mtge. V. 84, p. 1181, 1246, 1550.
SECURITIES OUTSTANDING SEPT. 1 1908.
Interest.
STOCK AND BONDS. Outstand'g.
Maturity. Ann. chges.
Stock $45,000,000 ($100).$45,000,000
July 1 2002 $1,694,000
Brook Rap Tr first ref} 42,350,000 4 g J-J
Central Trust Co., New York, Trustee.
mtge(1902) $150,000,000 gold
c•&r Coupon bonds, $1,000; registered, $1,000, $5,000.
Oct 1 1945
Brook Rap Tr gold M1 7,000,000 5 g A-0
350,000
d Interest at Trust Co.of Amer., N.Y.,Trustee.
1895 $7,000,000_
Brooklyn City RRAug 1 1956
x600,000 4 g F-A
x24,000
Refund mtge 1906 $6,-1
jLong Island Loan & Trust Co., Bklyn.,Trustee.
925,000 ($1,000)
30
10
0,
rattly 1 1941
,0
00
00
e
6,000,000 5 J-J
First consol M 1891..
200,000 5 J-J
July 1 1908
Brooklyn Crosst 1st IL
200,000 41,6 F-A
July 1 1941
9,000
New W & Flat 1st M__
May 1 1910
7,500
G Lorimer 1st M____
125,000 6 M-N
Brooklyn Heights RR
250,000 5 A-0
April 1 1941
12,500
first mortgage 189L _
People's Trust Co., Brooklyn, Trustee.
Brook Queens Co & Sub
3,500,000 5 g J-J
*July 1 1941
175,000
first mortgage 1894
Guaranty Trust Co., New York, Trustee.
First cons M guar p& 1
2,884,000 5 g M-N *July 1 1941
144,200
(end.)$4,500,000'94
Central Trust Co., New York, Trustee.
Jam & B RR first
Jan 1 1930
240,000 5 g J-J
12,000
mortgage 1889....
Central Trust Co., New York, Trustee.
Sept 1 1916
Sea Beach By first mort
650,000 4 g M-S
26,000
guaranteed 1896
W. M. Grinnell, W.0. Platt & Wm. Man, Trust.
Brooklyn Union Elev 1st 16,000,000 5 g F-A
Feb 1 1950
800,000
mortgage 1899, guar_ Interest at Central Trust Co., N. Y., Trustee.
7,000,000 4 g F-A
Aug 1 1949
Kings Co Elev first mort
280,000
$7,000,000 gold ($1,- Interest at Central Trust Co., N. Y Trustee,
cj
000) guar 1899
Jan 1 1951
Nassau El RR Co cons M1 10,726,000 4 g J-J
429,040
bonds ($1,000) c*&r I Guaranty Trust Co., New York, Trustee.
18981 Bonds guar by end by Brooklyn Heights RR.
$15,000,000
660,000 5 A-0
April 1 1944
First mortgage bonds)
33,00cr
J Trust Co. of America, New York, Trustee.
1894
730,000 5 A-0
Oct 1 1909
Atlantic Avenue first 1
36,500
Brooklyn Trust Co.,Trustee.
mortgage 1884 _ _ _ _ J
April 1 1931
Atlantic Ave general c2,241,000 5 g A-0
112,050
Brooklyn Trust Co., Trustee.
mortgage gold 1891
Jan 1 1934
220,000 5 g J-J
Atlantic Ave Improv
11,000
Central Trust Co., New York, Trustee..
$220,000 gold 1894_
250,000 5 A-0
Jan 1 1917
bB B & W E first mort
12,500
Ser B
Title Guarantee & Trust Co., Trustee.
B 13 & W E 2d mort
352,000 5 J-D
June 1 1911
2,600
gage
Title Guarantee & Trust Co., Trustee.
BB &WE general)
121,000 5 g A-0
Oct 1 1933
6,050
gold, 1893
J Trust Co. of America, New York, Trustee.
Total interest charges(on above $101,799,000 of funded debt
outstanding)
54,476,940
Rental payments in addition to payment of fixed chargesBrooklyn City RR stock $12,000,000 10% Q-J 15, 999 years
$1,200,000
Prospect Park & Coney Island RR., yearly rental
40,000
• Subject to call July 1 1916.
b Subject to call at any time.
a Subject to call in 1916.
c Atlantic Avenue general mortgage 5s of 1931 were subject to call in
1909, but many of them (how many is not known) have been stamped
releasing them from the liability to call.
d The Central Trust Co. of New York was trustee of this mortgage until
Oct. 1903, when the Colonial Trust Co. (since consolidated with the Trust
Co. of America) was substituted.
x Entire amount owned by Brooklyn Rapid Transit Co.
Stock.-Brooklyn Rapid Transit stock authorized is $45,000,000; issued
$45,000,000. The stock was formerly held in a voting trust, but this terminated Jan. 1 1900. and control is now vested in the owners of the shares.
In the reorganization of Long Island Traction the old $30,000,000 stock
paid an assessment of $10 per *100 share, the old stock being reduced to
$20,000,000, and $7,000,000 of 5% bonds being authorized, against
$3,000,000 of Long Island Traction.
Interest on Bonds, Where Payable.-Interest on the Brooklyn Rapid
Transit mortgage of 1902 for $150,000,000 and the two Elevated issues is
payable at the Central Trust Co.; on the B. R. T. issue of 1895 at the
Trust Co. of America; on the Brooklyn City RR. refunding bonds at company's office; on the Nassau Electric bonds, including Atlantic Avenue and
West End issues, at the Trust Co. of America; on the Brooklyn Heights first
mortgage at the People's Trust Co., Brooklyn; on the Brooklyn Queens
County ec Suburban mortgages and the Jamaica & Brooklyn first mortgage
at the Long Island Loan & Trust Co., B'klyn; and on the Sea Beach 1st mtg.
at the Sea Beach Ry. office, 85 Clinton St., B'klyn.
Mortgage for $150,000,000.-Stockholders authorized March 20 1902
first refunding 4% gold convertible bonds for $150,000,000. $60,936,000 is intended to retire all the existing bonds of the system (including
the $7,000,000 Brooklyn Transit 5s), and the rest for improvements,
additions and new acquisitions, as needed from time to time. The mortgage
provides that a fund of $5,000,000 in bonds or their proceeds be at all times
at the disposal of the company for the purposes mentioned. See V. 74
p. 377. As this fund is reduced for any of the purposes authorized,more
bonds may be authenticated by trustee and delivered to the company on
its order. These bonds can be converted into stock, par for par, after July 1
1904 and before July 1 1914. and are subject to call on any interest day
until year 2,000 at 110 and interest; after that at par and interest. See
listing applications in V. 81, p. 1856, 1857, for list of securities pledged
for the bonds; also listing applications in V. 82, p. 517; V. 83, p. 1122;
V. 85, p. 1523, and V. 86, p. 923.
Is
ELECTRIC RAILWAYS
Bonds.-Of the $7,000,000 50-year gold 55 of the Brooklyn Rapid
Transit, $3,000,000 went to stockholders for the assessment. For descrip
tion of property covered by the mortgage, see V. 62, p. 1138. See also
application in V 67
904.
Brooklyn City RR. mortgage of 1891 is for $6,000,000 and is a first lien
on the old Brooklyn City road and a consolidated lien on the lines acquired
by consolidation in 1890. Of the $6,000,000 issued, $4,373,000 are in the
hands of the public and the balance is held in the guaranty fund. The
brooklyn City RR. refunding mortgage is subject to call after July 1 1915
at 110 and interest.
Stockholders of Brooklyn City RR. July 10 1906 authorized a new mortgage for $6,925,000 to provide for refunding. V. 82, p. 1437.
The total authorized issue of first consolidated mortgage gold Is of the
Brooklyn Queens County & Suburban RR. is $4,500,000, of which $1,616,000 are reserved for extensions, on which they will be a first lien. Of the
52,884.000 outstanding, $2,255,000 in 1898 were endorsed with the guaranty
of the Brooklyn Heights RR. Co. as to principal and interest, and in Jan
1899 provision was made for guaranteeing the remainder of the payment of
$10 per bond. Both B. Q. C. & S. loans are subject to call in 1916.
The Sea Beach Ry. 1st 4s also are guaranteed as to principal and interest
by the Brooklyn Rapid Transit Co. V. 65, p. 1219.
The Nassau Electric bonds are guaranteed (by endorsement on each bond)
by the Brooklyn Heights RR. Besides covering the mileage directly owned
they are a lien by a supplemental agreement upon the stock of the Coney
Island & Gravesend By. and the Sea Beach Ry. and will become a direct
lien on these lines should the latter become merged in the Nassau Electric.
Of the total of $15,000,000 bonds authorized, the unissued remainder
($4,274,000) is reserved for prior liens. See listing application in V. 72,
v. 342.
MILEAGE.-The system includes:
1st
2d
Sidings,
Total
Track.
NameTrack.
&c.
miles.
2.134
Brooklyn Heights RR
1.851
4.286
103.332
Brooklyn City RR
98.798
23.564225.694
Brooklyn Queens Co. & Suburban RR. 27.358
26.674
3.223
57.255
65.076
Nassau Electric RR
63.959
0.299 138.334
6.221
Sea Beach Railway
6.221
1.753
14.195
3.250
Coney Island & Gravesend Ry
38
6.786
1.184
South Brooklyn Railway
N:1
:gg
5.669
9.401
Prospect Park & Coney Island RR
7.802
8.188
25.391
Brooklyn Union Elevated RR.
Elevated lines
28.511
28.483
5.802
62.796
7.648
Surface lines
7.648
18.708
34.004
Canarsie RR.
.738
Elevated lines
.738
1.476
2.414
Surface lines
2.414
.687
5.515
1.329
1.320
New York & Brooklyn Bridge RR_
.834
3.492
Trackage on N.Y. & Bklyn. Bridge
1.204
1.204
2.408'
Trackage on C. I. & Brooklyn RR _ _ _ _ 2.595
2.399
4.994
1.723
1.723
Trackage on Williamsburgh Bridge
.344
3.790
Total miles operated
264.118 255.615
76.352 596.085
EQUIPMENT, June 30 1908.-Closed cars, 1,112; open cars, 919; convertible, 671; semi-convertible, 757; miscellaneous, 464. Total, 3,923.
REPORT.-The annual report for 1907-08 will be found in V. 87, p. 612.
Passengers carried during year ended June 30 1908 amounted to 515,184,967, an Increase of 3.345,530 over previous year.
INCOME ACCOUNT BROOKLYN RAPID TRANSIT AND CONSTITUENT COMPANIES-YEAR ENDING JUNE 30.
1907-08.
1906-07.
Receipts1905-06.
$18,930,164 $18,443,983 $17,586,721
Passengers
315,719
349,539 • 309,555
Freight, mall and express
155,204
Advertising
148,424
145,808
469,479
American Ry. Traffic Co
439,641
431,244
165,256
194,356
Rents
156,959
512,568
360.810
Other miscellaneous income
166,977
VoL. Lxxxvii.
ANNUAL REPORT.-Now included in Brooklyn Rapid Transit.
OFFICERS.-Pres., Henry Selbert; V.-P., T. S. Williams, V.-P., J. F.
Calderwood; Comp., Howard Abel; Sec. and Treas., C. D. Meneely.-V.
77, n. 2389; V. 79 p. 268; V. 84, p. 1247.
(2) Nassau Electric Railroad.-A trolley road.
ORGANIZATION.-Chartered March 13 1893 under the laws of New
York. Opened in July 1895 and in April 1896 leased the Atlantic Avenue
RR., &c. As stated above, the Rapid Transit Co. owns the whole $8,500,000 common stock of the Nassau Electric and $6,367,275 out of the $6.500,000 preferred stock.
Lease.-Was formerly leased for 999 years from April 1 1900 to Brooklyn
Heights RR., but coincidently with a decision compelling the issuance of
transfers from one leased llne to another (V. 79, p. 102) the lease was terminated on June 30 1904. For still another decision as to transfers, see
V. 82, p. 1323; also V. 85, p. 404.
The assets of the Kings County Traction Co. were purchased at public
sale in July 1898 by the syndicate conducting the consolidation.
V. 67.
p. 74, 125. Certificate of merger of Atlantic Avenue RR. and United
RR.
(the latter being successor to the Brooklyn Cable Co. sold at foreclosure
Dec. 23 1897) was filed on Jan. 26 1899. V. 68, p. 283,821.
In J ne 1907 a 10-year mortgage for $5,000,000 was authorized to secure
certificates of indebtedness issued from time to time to the Brooklyn Rapid
Transit for advances made for Improvements, &c., but in July noe, the
Public Service Commission denied application for approval of mtge. V. 84,
p. 1181, 1246, 1550; V. 87, p 224.
STOCK AND BONDS.
te
utstanding. Maturity.
Common stock $8,500,000-------------------58.500,000
Preferred 4% cum $6,500,000_ _ Transitstatement6.500,000
M-N
6
Nov '07,2%
Bonds.-For details see Rapid
ROAD.-Embraces 138.334 miles of single track.
Atlantic Avenue RR. (now part of Nassau Electric) owned the double
track steam road (since converted to electricity) from Jamaica to Flatbush
Avenue Station in Brooklyn, 9% miles (19 miles of track), which is leased
for 99 years from June 1 1877 to the Long Island RR. Co. affording that
company entrance into the city of Brooklyn-rental; formerly a percentage
of receipts, was changed in 1895 to $60,000 yearly. V 61, p. 828. Litigation has arisen with Long Island RR. with reference to use of Atlantic
Avenue. See V. 74, p. 1139.
DIVIDEND.-First div. on pref. under lease was paid Dec. 31 1900 4 %;
Nov. 1901,4%; Nov. 1902,4%;Nov. 1903,4%;Nov. 1904,4%;Nov.
'
1905,
4%; in 1906, May, 2%; Nov. 2%; in 1907, May, 2%; Nov.. 2%.
ANNUAL REPORT.-For year ending June 30 1907,gross,$3,167,615,
net, $1,055,153; other Income, $132,511; charges, $969,354; surplus.
$218,310. V. 70, p. 125. 328; V. 71, p. 1220; V. 72, p. 240, 339,
343;
V. 82, p. 1323.
(3) Prospect Park & Coney Island RR.-A trolley road.
ORGANIZATION.-Controlled by Long Island RR., but on June 17
1899 the Brooklyn Rapid Transit Co took possession under a lease for 990
years to the Brooklyn Heights RR. and equipped the road electrically.
(V. 68, p. 1224; V. 69, p. 654.) In Feb. 1907 this lease was assigned to
the South Brooklyn By. V.84, p. 569. Rental is $40,000 per annum and
expenses until 1910, when amount increases to $45,000. In consideration
of a guaranty by Long Island RR.. annual interest on the greater part of
Prospect Park & Coney Island's bonded debt has been reduced from 6 and
7% to 44%. See V.58, p. 42; V. 62, p. 187.
STOCK AND BONDS.
Date,
Interest. Outstanding. Maturity.
Stock $100
$250,000
Second mortgage now first 1886
4% F-A
340,000 Feb 1 1926
c*ecr 1886
($1,000 each)
6 F-A
160,000 Feb 1 1926
Third mortgage (now second) 1891
4% g 51-S96.000 Mch 1 1931
($1,000
each)
c*&r 1891
gold
6 M-S
104,000 Mch 1 1931
Interest on above mortgages payable at U. S. Mortgage & Trust Co., N. Y.
Income bonds non-cum
1880
6 M-N
250,000 May 1 1920
5
Real estate hi June 30 1903 __
23,100
.5
.
6
Bills
430,500
$20,548,390
$19,936,753 $18,747,264
Total
payableROAD.
Embraces
1
miles
of
single track.
ExpensesEARNINGS.-Now
in those of Brooklyn Rapid Transit. The
$1,020,104
Maintenance of way
$860,075
$815,147 Prospect Park & ConeyIncluded
Island received as rental from Brooklyn Heights in
1,837,550
Maintenance of equipment
1,786,731
1,642,799 year ending.June 30 1908,
1,653,728
Operation of power plant
1,655,400
1,609,534 433; interest, taxes, &c $40,000; rental of buildings, $40,433; total, $80..$60.738; surplus. $19,695.
4,979,757
Operation of cars
4,793,821
4,251,337
651,669
General expenses
643,899
603,289
CONEY ISLAND & BROOKLYN RR.1,242,361
Damages and legal expenses
1,126,248
973,104
ORGANIZATION.-Chartered
10 1860. Cars commenced running
190,885
Freight, mall and express expenses
233,667
203,962 over the Brooklyn Bridge Feb. 15Dec.
1898. See V. 66, p. 383.
363,525
American By. Traffic Co. expenses
365,863
342,205
Brooklyn City & Newtown was
in Nov. 1807 for 099 years, and In
930,007
Taxes
893,782
882,862 1900 was merged into the Coney leased
Island & Brooklyn.
Authorized stock was increased in March 1907 from $2,000,000 to
$12,869,586 512,359,486 $11,324,240
Total
$3,500,000. V. 84. p. 569. Of this amount $1,000,000 was offered to
$7.678,804 $7,577,267 $7,473,024 shareholders in May 1907; payment to be made In installments-25% each
Net 'earnings
July 1 and Oct. 1 1907 and Feb. 1
May 11908. V. 84, p. 1113.
5,604,931
Fixed charges (net)
5,132,604
4,730,072 onOn Feb. 18 1908 the Public Serviceand
Commission granted permission to
Issue
$30,000
6%
short-term
"car
trust
bonds"
to pay for new rolling stock.
$2,073,873
Surplus
$2,444,663 52,742,952 V.On. 4
08 a
10
9.
ri2
101,148
229,781
Special appropriations and miscel_ _
442,064
580,343
pplled to Public Service Commission forpermIsslon to
$1,844,092 52,002,599 $2,162,609 Issue $462,000 1904 consol, mtge. bonds for Improvements. V. 86, p. 917.
Balance
OFFICERS.-Pres.. Edwin W. Winter; Chairman of Board, A. N. Brady; Up to Sept. 15 1908 permission not granted.
.Dividends Suspended.-In 1907 the stockholders agreed to suspend diviWilliams;
T.
S.
Val
Sec. and Treas., C. D. Meneely:
and
C.
Du
Horace
-P..
V.
for two years in order to meet the expenses of extensive ImproveV.-P. and Gen. Mgr., J. F. Calderwood; Comptroller, Howard Abel, Offices dends
ments (including equipping of new power station). V. 84, p. 1113.
85 Clinton St., Brooklyn.
STOCK
AND BONDS.
862,
220,
919,
404,
1082,
Interest. Outstanding. Last div.,&c
Date.
p.
1517;
INDEX.-V. 85,
V. 86, p. 107, 337,
Stock $3,500,000 (par $100)- - Q.-F.
$2,977,200 Feb 07, 2%
•
419. 720, 917, 1041, 1099, 1223, 1342, 1345; V. 87, p. 224.
consolidated
1898
mortgagel
First
4
g J-J
2,000,000 July 1 1948
COMPANIES CONTROLLED BY BROOKLYN RAPID TRANSIT CO.
$2,000,000 gold_ ____
( Mercantile Trust Co., New York, Trustee.
-Formerly
a
steam road, now electric* Consol mortgage $1-0000
(1) Brooklyn Union Elevated RR.
. -.0001 1904
4 g J-J
1500
, ,000 Jan 1 1955
gold ($1.000)
_c*.1 Mercantile Trust Co.. New York, Trustee
ORGANIZATION.-Organized on Jan. 30 1899 as successor of the
6%
Brooklyn Elevated RR. and its allied lines per plan in V. 64, p. so. E m. Car trust bonds 530,000 _ _f 1908
30 000 Aug. 1,'10-14
Interest at Brooklyn Trust Co.
braces the Kings County Elevated RR., reorganized according to plan in
5 J-J
2,000,000 July 1 1939
V. 68, p. 724, the Sea View RR. and the Brooklyn & Brighton Beach RR. Brooklyn City & Newtownl 1889
first mortgage $2,000,000..)Interest at Mercantile Trus
t7Co., N. Y., Trus.
1clo.00
In J, n - 1908 the Brooklyn Rapid Transit owned $12,530,831 common
Real estate mortgages
and $4,785,985 preferred stock of the Brooklyn Union Elevated
Bonds.-Of the new 510,000,000 bonds, $4,000,000 are reserved for prior
Lease.-Leased to Brooklyn Heights RR.for 999 years from July 1 1901:
the lessee agreed to pay organization expenses, taxes and fixed charges, and liens and $4,500,000 for extensions and Improvements. No sinking fund
as rental all net earnings, such net earnings not to be less than $150,000 per and bonds cannot be called ROAD -Brooklyn to Coney Island, with branches, 13.75 miles; Brookannum the first three years, $200,000 the next two years and $250,000 per
annum thereafter. Lessee also agreed to guarantee, principal and interest, lyn City & Newtown RR., main line and branches, 10.38 miles; trackage
all bonds of the Brooklyn Union and Kings County Elevated RR. com- rights, 4.99 miles; second track and sidings, 24.18 miles; total operated,
panies, the guaranty to be stamped upon the bonds upon presentation. In 53.30 miles. 464 passenger and is other cars.
Fares.-Beginning May 5 1901 fare to Coney Island on Sundays and holiFeb. 1902 began stamping bonds with guaranty. Certain days each month
are designated for stamping. See V. 86, p. 51. In March 1907 lease was days was increased from 5 to 10 cents. On Aug. 31 1908 fare on week days
terminated, but the lease guaranty remains unimpaired. See V. 84, p. 569. was also raised from 5 to 10 cents. V. 87, p. 613.
DIVIDENDS.-In 1895,6%; in 1896,5 %; in 1897,6%; in 1898, 834 %.
In June 1907 a 10-year mtge.for $20,000,000 was authorized, but in July
1908 Public Service Commission refused to approve mtge. See V. 87, p.224. V.67, p. 955. In 1899, 10%; in 1900, 10%; in 1001, 134%; in 1902.
The mtge. was simply to secure certificates of Indebtedness given to the 16%.; in 1903, 16 %; in 1904, 16 %; in 1905, 10 TO; in 1906, 8 70; in 1907.
Brooklyn Rapid Transit for moneys advanced from time to time. V. 84, Feb.. 2 70: May dividend passed. None since.
REPORT.-For years ending June 30:
p. 1181, 1246, 1550.
Gross.
Interest. Outstanding. Maturity,&c 12 Mos.
Net.
Oth.Inc. Int.taxes,&c. Bal.sur.
Date.
STOCK AND BONDS1907-08
51,557,457 $311,200 $4,604 5310,403
$13,000,000
55,402
Corn stock, 513,000,000,(8100)
1,613,724
311,722
81,044
7,891
384,875
5,000,000 Jne'08,2 70 1906-07
Pref stk, 5% n-c, $5,000,000.
S. W. Huff; 1st V.-P, LoulS Fitzgerald: 2d V.-P.,
06
($100)_
Jas.
H.
Hyde;
Sec.
and
Treas., D. B. Cannon; Aud., Elmer M. White; Gen.
5 g F-A
16,000,000 Feb 1 1950
let M, $16,000,000, g, 4% 1899
till '05,then 5%($1,000) _ _ Interest at Central Trust Co., N. Y., Trustee, Mgr., D. W.Sullivan.-V.86, p. 420, 479, 480, 917; V. 87, P. 613.
Kings County Elevated 1st All 1899
4 g F-A
7,000,000 Aug 1 1949
VAN BRUNT STREET & ERIE BASIN RR.-A trolley road.
gold,57,000,000($1,000)e JInterest at Central Trust Co., N. Y., Trustee.
ORGANIZATION. &c.-Chartered Feb. 15 1861. Stock, $200,000, all
Both issues of bonds are listed on N. Y. Stock Exchange,
$10. Funded debt, $65,000. Track, 3 miles, changed to elecROAD.-The Brooklyn Union embraces 62.796 miles of elevated track Issued; par,
tricity In 1898. 14 cars. Gross, 1905-06, 856,877; net, $18,325; other
and 34%004 miles of surface track. Total, 96.80 miles. The New York & income,
$664; charges, $4,869; dividends (5%), $10,000; balance, surplus,
Brooklyn Bridge has 3.492 miles of track in addition.
,1
On July 1 1898 the operation of the Bridge railroad was commenced. $40
F
20
F.TCERS.-Pres. John'F. Murphy; Sec. and Treas. Wyllys Terry,
See terms of contract in V. 67, p. 27, 426. In April 1898 an agreement Office,
264 Van Brunt
' Street, Brooklyn, N Y.
was made with Long Island RR. providing for joint construction of connecting line at East New York and running of through trains from Jamaica to
Brooklyn Bridge and from Rockaway Park to Broadway ferries. ConBUFFALO, N. Y.
struction begun in Nov. 1898 and work completed In Feb. 1899. V. 67,
BUFFALO & DEPEW RY.-A trolley road.
p .1054. On May 30 1903 through service by elevated trains (not Long
Island RR. trains) from Broadway Ferry to Jamaica was inaugurated;
ORGANIZATION.-Incorporated on April 27 1897. The Investment
but in Nov. 1903 the Board of Aldermen passed an ordinance prohibiting Co. of Philadelphia owns about three-fourths of the stock and the entire
the operating of electric trains on Jamaica Avenue, and the next month $350,000 bonds.
through service was discontinued.
On Dec. 9 1904 the Buffalo & Rochester By. was incorporated (V.
DIVIDENDS.-The first dividend of 2% on the preferred stock was paid 70, p. 2695) with $3,000,000 capital, of which $61,000 was issued, for the
June 29 1901; In 1902 June 30, 1 %. On Dec. 31 1902, 1 % and 5,5 % purpose of extending line from Depew to Rochester. The BR.Commission,
ra. In 1903, June'
30, 1 34 %; Dec. 31, 1 %. In 1904, July 7, 1 %; however, refused permission to build the road. In Oct. 1905 the Buffalo &
Dec., 2%. In 1905, 4%. In 1906, June, 2%:Dec..2% %. In 1907. June. Rochester Traction Co. was chartered to build the road. In April 1007 per%; Dec., 231%. In 1908, June, 2% 70•
mission to build this road also was refused by the RR. CommIssiqn.
SEPT., 1908.]
ELECTRIC RAILWAYS
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$305,000
Stock,$350,000 ($100)
350,000 Jan 1 1931
5 J-J
Buff & D 1st mtge,$350,000_ _ 1901
___
96,300
Loans payable June 30 1908_ _
EARNINGS.-Year ending June 30 1908, gross, $15,978; deficit under
operation, $5,705; fixed charges, $19,127; total deficit, $24,832.
ROAD.-Operates a double-track road from Buffalo to Depew, 13.59
miles of track; 60-1b. rail; 5 cars.
OFFICERS.-Pres., Henry H. Kingston; Sec. and Treas.. John J.
Collier. V. 79. p. 2695.
19
acquisition of the steel arch bridge at Niagara Falls and the Suspension
Bridge between Queenston and Lewiston, which bridges have been equipped
with trolley tracks
On Oct. 30 1905 acquired the entire $80,000 capital
stock of the Electric City By. In Jan. 1907 organized the Frontier Electric
By., to build a line to connect with a proposed new bridge across the Niagara
River. See statement of that company below.
Interest. Outstanding. Maturity.
STOCK AND BONDSDate.
$10,000,000
Stock, common, $10,000,000_ ____
Pref, 4% cum, $5,000,000_
5,000,000 --------Collateral trust, $30,000,0001 1899
17,955,000 July 1 1949
4 g J-J
($1,000), gold, ca. InterGuaranty Trust Co., N.Y., Trustee. May
est at J. P. Morgan & Co... 'be called at 110 and int. on any int. date.
Car trust certificates No. 2, 1906
480,000
1908-1916
J-D 15
$600,000 ($1,000)
c* Commercial Trust Co., Phlla., Trustee.
Car trust certificates No 3 1907
225,000
See text
6%
$250,000
jCommercial Trust Co.. Philadelphia, Trustee
Bonds and Stock.-Of the $30,000,000 collateral trust mortgage,$12,285,000 were originally reserved to take up an equal amount of the underlying
bonds of the allied and controlled companies outstanding, add $600,000
of that amount has been issued for that purpose, leaving $11,685,000
still reserved. $360,000 of bonds remain in treasury of company. Car
trust certificates No. 2 are secured by title to 150 cars. They fall due
in semi-annual installments of $30,000 each from Dec. 1906 to June 1916
inclusive. Car trust certificates No. 3 are secured by title to 50 cars.
They fall due in semi-annual installments of *12,000 March 1 and $13,000
Sept. 1 from March 1 1908 to Sept. 1 1917.
Franchises.-In June 1906 we were informed that the majority ot the
franchises In Buffalo are practically perpetual, none in Buffalo or other cities
and towns having then an unexpired term of less than 40 years, excepting only the Fillmore Avenue franchise, covering an extension of 6;
,.1
miles on the east side in Buffalo, which was limited to 25 years.
Consolidation or Constituent Companies.-On Feb. 20 1902 the International Railway Company was incorporated in New York with $10,120,500
stock, and in Aug. 1902 this was increased to *17,000,000, of which $16,320,500 has been issued (all owned by the International Traction Co.), ass
consolidation of the following companies. whose shares had previously been
held by the Traction Co.; V. 74, p. 427.
Buffalo Railway Co. (after Buffalo Traction and Buffalo Bellevue &
Lancaster had first been merged in the same).
Buffalo & Niagara Falls Electric Railway.
Buffalo 3c Lockport Railway (after Elmwood Ave. and Tonawanda Electric Railway had been merged).
Buffalo Tonawanda & Niagara Falls Electric RR, Co.
Lockport & Olcott Railway.
Niagara Falls & Suspension Bridge Railway (after the Niagara Falls
Whirlpool & Northern By. had been merged in it).
Niagara Falls Suspension Bridge Co.
The Buffalo Railway owned the $2.860,000 stock of the Crosstown Street
Ry. of Buffalo, and this passed to the International Railway Co.
On July 1 1902 the International By. Co. acquired by purchase the
Niagara Falls Park & River Ry., the Clifton Suspension Bridge Co., the
Lewiston Connect. Bridge Co. and Queenston Heights Bridge Co. This
leaves the Crosstown St. Ry. Co. of Buffalo, the Electric City By., the
Frontier Elec. By. and Inter. By. Co. as the only operating companies, and
eventually (that is, as soon as the $1,000,000 Buffalo By. debentures secured by $2,000,000 stock of the Crosstown St. By. are retired) the Crosstown St. Ry. can also be merged, thus leaving the international Railway
Co., the Frontier Elec. Ry. and the Electric City By. the sole operating
companies and the International Traction Co. the holding company.
BUFFALO & LAKE ERIE TRACTION CO.-A trolley road.
ORGAN1ZATION.-Incorporated in New York and Pennsylvania In
Dec. 1906 and is a consolidation of the Hamburg By., the Dunkirk & Fredonia RR.,.the Buffalo Dunkirk & Western RR., the Lake Erie Electric
Traction Co. and the Erie Rapid Transit Co. Leases the Erie Electric
Motor Co. for 999 years, which company leases the Erie City Passenger By.
for 999 years from Oct. 1 1888 and the Erie Reed Park & Lakeside
St. Ry. for 999 years from March 1 1901. In Feb. 1907 absorbed the
Jamestown Chautauqua & Lake Erie Ry. (steam). V. 84, p. 506, 569.
The common stock was increased for this purpose from $4,250,000 to
$5,000,0'00.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Common, $5,000,000
$5,000,000
Pref, 5%. 12,500,000 cum
2,500,000
from July 1909
5 g M-N
5,0 .5,000 Nov 1 1936
1st and ref mtge, $12,000,- 1908
c* Interest at New York Trust Co., Trustee.
000, g ($1,000) _
6 g J-J
148,000 Jan 1 1919
Erie El M 1st mtge, $200,000 1889
c Central Trust Co., trustee. New York City.
($1,000), gold
6 g J-J
.102,000 Jan 1 1919
Erie El M 2d mtge, $150,000 1892
c Central Trust Co., Trustee, New York City.
($1,000), gold
5 g A-0
Erie El M 1st ref sink fund 1901
1,000,000 April 1 1941
$1,250.000, gold ($1,000). Interest at New York Trust Co., Trustee,
Cannot be called__
.c*
New York City.
Homburg Ry 1st mtge, $750,- 1906
650,000 Nov 1 1926
4 g M-N
000, gold ($1,000)
Int. at Trust Co. of America, N. Y., Trustee.
Dunkirk &Fredonia 1st mtge, 1891
40,000 July 1 1911
5 J-J
$40,000
Frederick R. Green, Trustee.
Dunkirk & Fredonia 2d mtge. 1898
21,000 July 1 1911
5 J-J
$21,000....
Frederick R. Green, Trustee.
Dun & Fred ref M, $1-00,000, 1902
39,000 July 1 1952
5 g J-J
gold ($100, $500 & $1,000)
Fidelity Trust Co., Buffalo, Trustee.
Jamestown Chautauqua &
Lake Erie mtge, $750,000. 1901
500,000 Jan 1 1951
4 J-J
250,000
Jamest & Chautauqua mtge..
Bonds.--Of the $12,000,000 new bonds, $2,100,000 are reserved to take
up a like amount of underlying liens (not including in this the liens on the
Jamestown Chautauqua & hake Erie, which road was absorbed subsequent
to the making of this issue). These new bonds are subject to call on any
int. date on or before Nov. 1 1911 at 105 and int.; thereafter at 110 and int.
Interest on the 1st and 2d mtges. of the Erie Electric Motor Co. Is paid by
Kountze Bros., New York. The Erie Electric Motor ref. bonds are secured
by deposit of entire stocks of the Erie City Pass. By.and the Erie Reed Park
& Lakeside St. By. A sinking fund of 1 % annually on these bonds began
April 1 1906 and will be increased to 1 4% in 1916. The Hamburg Ry.
bonds are subject to call on or before Nov. 1 1911 at par and int. The
Dunk. & Fred. ref. mtge. bonds are subject to call on any int. date at 103.
ROAD.-Operates 81 miles of track from Erie through Northeast to
Westfield, including city lines in Erie. Also the old Janiest. Chant. & Lake
miles. Also 3 miles in Dunkirk
Erie from Westfield to Jamestown, 43
Liens of Constituent and Owned Companies.
and 4 miles formerly owned by the Dunkirk & Fredonia. Also 15 miles from
Interest. Outstanding. Maturity.
Date,
BONDSBuffalo to Hamburg. Total track, 147 miles. Of the gap between Ham- Buffalo East Side 2d mtge.__J 1882
$293,500 Sept 1 1912
8 M-S
Is
to
complete
a
miles),
which
through
line
33
(about
burg and Dunkirk
at Company's office, Buffalo.
payable
tint.
is
between Buffalo, N. Y., and Erie. Pa., the piece from Hamburg to Angola Buffalo Ry 1st con mtge( 1891
4,706,000 Feb 1 1931
5 g F-A
was put in operation in July 1908. Will enter Buffalo over tracks of the
($1,000)$5,000,000,g, c*&r Int. at Co's. office, Buffalo, E. W. Clark k
Buffalo & Lackawanna Traction Co. which see below.
Co., Phila., or Mere. Tr. Co., N. Y. Trustee
OFFICERS.-Pres. Jos. B. Mayer, New York; V.-P., L. B. Grant; Sec. Buffalo By debentures,
1,000,000 April 1 1917
$1,-1 1897
6 g A-0
and Treas., Marshall J. Dodge, New York; Asst. Sec., Jas. A. Byrne; Asst.
000,000
gold,
red
at
105
Metropolitan Trust Co., New York, Trustee
Treas. and Gen. Mgr., J. C. Calisch, Erie, Pa.-V.83, p. 1170, 1290, 1410;
after April 1 1902($500 and Interest at company's office. Buffalo, o
V.84, p. 157, 508, 569; V.85, p. 1576; V.86, p. 980.
$1,000)
.1 Mercantile Trust Co., New York.
Buffalo By R E mtge
150,000 June 20 '09
J 1894
6 J-D 20
BUFFALO & LACKAWANNA TRACTION CO.
Can be paid at par on any Interest date.
I.
ORGANIZATION.-Incorporated In New York in June 1908 with $1,- aTonawanda Electric RR.1st 1895
40,000 April 1 1017
4 A-0
000,000 stock by the Mayer-Sheehan syndicate. Proposes to furnish enmtge
Interest at company's office, Buffalo.
trance into Buffalo for the Buffalo & Lake Erie Traction Co.
aTonawanda Street Ry 1st 1892
6 J-J
80,000 July 1 1912
mtge, $250,000
Interest at company's office, Buffalo.
berosstown St By 1st mtge,ftk 1892
BUFFALO SOUTHERN RV. CO.-A trolley road.
5 g M-N
52,974,000 May 1 1932
In May 1906 control of road changed hands. See V. 82, p. 1155.
($3,000,000), gri p & _ _c* Int. at Metropolitan Tr. Co., N. Y.;Trustee.
5 g J-D
873,000 Dec 1 1948
ORGANIZATION.-Incorporated in New York on Aug. 26 1904 and is Buffalo Traction 1st mtge,( 1898
!Int. at Metropolitan Tr. Co., N. Y. Trustee.
$5,000,000
a consolidation of the Buffalo Hamburg & Aurora By. and the Buffalo
( 1897
5 J-D
1215.000 June 1 1927
Gardenville & Ebenezer Ry. V. 79, p. 2146. Franchises perpetual. Has
trackage rights in Buffalo over tracks of the International Traction Co. Buffalo Bellev & Lan Mtge _f Redeemable June 1903 at 102, and 3.6 % less
each year until at par.
By Legislative Act approved Feb. 7 1907 time for completion of road was
5 g J-J
Buff & Niag Falls Flee Ry-k 1895
750,000 July 1 1035
extended until Feb. 10 1909.
1st M, $750,000, gold__ „etInt. at Mercantile Trust Co., New York.
Interest. Outstanding.
STOCK AND BONDS- Date.
Maturity
5 g J-J
2d M, $250,000, g. s 1, red\ 1896
105,000 July. 1 1921
$547,200
$2,000,000
Stock
($100) _
after 1901 at 105 ($1,000)cf Int. at Mercantile Trust Co., N.Y., Trustee
5 g A-0 15
500,000 Oct 15 1934 Buffalo & Lockport 1st mtge,k 1898
1st mtge, $2,000,000, gold{ 1904
5 g J-J
500,000 July 1 1938
c* Int. at Seaboard Nat. Bank, N. Y., or at
($1,000)
!Int. at Trust Co. of America, N.Y., Trustee.
gold, $500,000
Fidelity Trust Co., Buffalo, Trustee.
5 J-J
800,000 July 1 1920
Lockport & Olcott By lst) 1900
mtge, $1,000,000, gold lnt. at Morton Tr. Co., N. Y., Trustee; also
BONDS.-No s. f., but from $50,000 to $100,000 bonds are subject to call
at Buffalo. Guar., p. & I., by Inter. Trao.
at 110 and int., on any Int. date upon 3 months' notice. $1,500,000 bonds
($1,000)
.c*
reserved for future extensions and equipment.
Niagara Falls Suspension} 1897
5 g J-J
300,000 Jan 1 1028
EARNINGS.-For year ending Dec. 31 1907, gross, $63,206; net, $15,011
Bridge, Clifton Suspension Toronto General Trusts Co , Trustee.
Bridge
ROAD.-Operates from Buffalo to Hamburg, East Hamburg and OrInt. at American Exch. Nat. Bank, N. Y.
125,000 Oct 1 1928
chard Park 15 4 miles; also has a line from Buffalo through Gardenville Lewiston Connecting Bridge} 1898
5 g A-0
Co, Queenston
and Ebenezer to Lien's Park, S 4 miles. An extension to East Aurora.
Heights Toronto General Trusts Co. Trustee.
15 miles, Is under construction. Expected to be completed in 1908. 60-1b.
Bridge Co
Interest at American Exch. Nat. Bank, N. Y.
T and 80-1b. girder rail.
Niag Falls Park & River 1stk 1803
800,000 Jan 2 1914
5 J-J
mtge, Canadian currency.._ fInt. at Imperial Bank, Toronto, Canada.
OFFICERS.-Pres., M. L. App, Port Allegany, Pa.; V.-P., H. C. Lein,
Gardenville, N. Y.; See., H. M. Gear, Buffalo; Treas.. Gen. F. Wells, East a Niag Falls & Susp Bridge By 1893
4 J-J
518,000
1913
Aurora, N. Y.; Gen. Mgr., J. B. Rumsey, Buffalo.-V.86, p.419.
a Niag FallsWhirlpool&No By 1894
4 J-J
1913
22,500
BUFFALO & WILLIAMSVILLE ELECTRIC RV.
In May 1908 control of road changed hands. See V. 82, P. 1155.
ORGANIZATION.-Chartered Aug. 10 1391. In May 1904 capital was
increased from $75,000 to $3,500,000, and in July 1904 a new mortgage
for $3,500,000 was made to provide for extension to Rochester.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock, $3,500,000..
$75,000
1st mtge, $3,500,000, gold) 1904
127,500 July,1 1944
5 e• J-J
($500 and $1,000)
fInt. at Commonwealth Tr. Co., Buffalo, Trus.
Bonds.-Are subject to call on any interest date at 105.
ROAD.-4 1.4 miles of track. Buffalo to Williamsville. An extension from
Williamsville to Rochester, 60 miles, is contemplated; has been completed
to Batavia. Permission to build remainder has been granted by Railroad
Commissioners. Rails 80-lb. T and 90-1b. grooved girder.
OFFICERS.-Pres., L. L. Lewis Jr.; V.-P. and Gen. Mgr., L. L. Grove;
Sec. Godfrey Morgan; Treas., S. R. dann.-Y. 79, p. 268; V. 81, p. 154;
V. 84, p. 1306.
TRACTIONAL CO. OF NEW JERSEY.
aAll owned by International Traction Co.
bOf this $350,000 owned by International Railway Co.
Bonds.-The Buffalo By. real estate mortgage matured June 20 1904 but
was extended until 1909, theTonawanda Electric RR. mtge. due April 1
1907 was extended until 1917. The Niagara Falls & Suspension Bridge
Railway, bonds of 1893 and the Niagara Falls & Whirlpool Northern
bonds of 1894 riven in the table above. matured in 1903, but were acquired
by the International Traction Co.and extended ten years,and then deposited
with the Guaranty Trust Co. of New York as additional security under the
International Traction Co. collateral trust mortgage. All the outstanding
stock of the International Railway, $80,000 bonds of the Tonawanda Street
By., $518,000 bonds of the Niagara Falls & Suspension Bridge and $22,500
bonds of the Niagara Falls Whirlpool & Northern are pledged as security for
the International Traction collateral trust loan. The Buffalo By. debentures are secured by deposit of $2,000,000 stock of Crosstown Street By.
Income Account of International Ry.. Crosstown Street Ray. and Electric
City Ry.. including Fixed Charges of International Traction Co.
1907.
1906.
Calendar year ending Dec. 311905.
$5,380,437 $4,972,688 $4,484,643
Gross earnings from operation
3,362,883
Operating expenses
2,884,986
2,483,663
ORGANIZATION.-Incorporated in New Jersey on Aug. 9 1905 and
acquired $7,600,000 of the $10,000,000 common stock of the International
Traction Co. through exchange of stock-100 shares of International stock
$2,017,554 $2,087,702 $2,000,980
Net earnings
for one share of Tractional Co. stock. A large amount of the $5,000,000
81,813
68,562
69,111
pref. stock of the International Tract. Co. is held by interests identified Miscellaneous Income
81.
p.
V.
728.
stock
of
with the new company. See
Authorized
new
$2,099,367 $2,156,813 $2,069,542
Total net income
company $100,000. of which $78,000 is outstanding. No bonds.
OFFICERS.-prea., Henry J. Pierce; Sec. and Treas., Arthur Robinson, Fixed charges,including int. on bonds
of I. T Co., taxes & depreciation
1,787,106
1,691,959
1,652,376
15 Exchange Place, Jersey City, N. J.-V.81. p. 728.
$464,854
$312,261
Surplus
$417.166
INTERNATIONAL TRACTION CO.-Trolley.
ROAD.-Mileage Jan. 1 1908 (including Crosstown Street By, of BufIn Feb. 1905 control changed hands, and new officers and directors were
falo). Length of line, single track (owned 196.43; leased 19.41; trackage,
elected. V. 80. n. 007.
ORGANIZATION.-Organized on Jan. 18 1899 under N. J. laws and 3.12) 218.96 miles; second track (owned, 121.52; leased, 0.32), 121.84
has acquired all the electric railways connecting tile cities of Buffalo, Niagara miles; sidings (owned, 24.39; leased, 4.39), 28.78 miles; total track operated
Falls, T,ockport, North Tonawanda and Tonawanda, together with all the (owned, 342.34; trackage, 3.12; leased, 24.12), 369.58 miles. Gauge,
street railway systems in all of said cities; also the electric railway connecting 4 feet 834 inches. Rail (steel), 45 to 140 lbs.
the villages of Depcw and Lancaster with Buffalo. It also acquired the
EQUIPMENT.-Jan. 1 1908 (including Crosstown Street By.of Buffalo):
Canadian Electric Railway, traversing the entire length of the Queen Vic- 528 motor-box cars; 45 trail box cars, 134 open motor cars, 77 open trail
toria Niagara Falls Park.and connected it,withIthe American system by the cars.215 semi-convertible cars,5 combination cars (passenger and express).
20
[VOL. Lxxxv]i.
ELECTRIC RAILWAYS
4 motor freight cars, 11 trail freight cars, 76 utility cars, 49 snow plows,
2 sweepers, 2 electric locomotives; car stations, 25; sub-stations (electrical),
8; power furnished by the Niagara Falls Power Co. and the Cataract Power
de Conduit Co.
OFFICERS of all operating companies-Pres., Henry J. Pierce; V.-P.,
Thomas E. Mitten; Sec. and Treas., J. F. Slocum; Compt., J. W. Crawford;
Gen Mgr.. T. W. Wilson; Auditor, D. M. Deininger.
OFFICERS of International Traction Co.-Pres., Henry J. Pierce: V.-P.,
Thomas E. Mitten; Sec.rand Treas., J. F. Slocum; Compt., J. W. Crawford;
Auditor, D. M. Delninger.-V. 83, p. 1470; V. 84, p. 158, 271, 624, 626;
V. 85, p. 1576; V. 86, p. 421, 1095.
(1) Frontier Electric RVORGANIZATION.-Incorporated in New York on July 27 1906. Entire
stock is owned by the International Railway Co.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
Stock, $1,500,000 ($100)
$25,000
1st M, $2,900,000 (81,000) _c
None
ROAD.--Will construct a double-track road on private right of way from
Buffalo to the entrance of the proposed new bridge across the Niagara River
at Niagara Falls, to be built by the Trans-Niagara Bridge Co. (See V. 84,
p. 158.) The new road will make connection at the bridge with the Niagara
St. Catharines & Toronto Ry.. which is to be extended to the Niagara River,
thus completing a through line from Buffalo to Toronto.
OFFICERS.-Pres.. H.T. Ramsdell; V.-P., J. H. Lascelles; Sec., Samuel
Ellis; Treas., Clifford Hubbell.-V.84, p. 158.
OFFICERS.-Pres., C. H. French; V.-P., F. S. Pratt; 2d V.-P., E. J. B.
Huntoon; Treas., Henry B.Sawyer; Gen. Mgrs., Stone & Webster, Boston.
-V. 78, p. 1906.
CANTON, OHIO.
STARK ELECTRIC RR.-An electric railroad.
ORGANIZATION.-Incorporated in Ohio and is a consolidation in D.2.c.
1902 of the Alliance Electric By. and the Stark Electric By. Controls the
Salem & Eastern Electric By. The latter has no securities outstanding.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
$1,000,000 July' 18,M
Stock $1,000,000 ($100)_
First mort. $1,000,000 goldl 1903
1,000,000 Jan. 1 1928
J-J
5g
(01,u0u) s. t
cjCitlzens' day. & 'Fr. Co., Cleveland, Trustee.
lint. at United Bank & Say. Co., Cleveland.
Bonds.-Can be called after 5 years at 105.
Dividends.-First dividend, M %, was paid July 1 1908.
ROAD.-Operates 34 miles of track from Canton to Salem, InclIding
Alliance City lines. Standard gauge. 67 and 70-1b. T rails and 70 and
90-1b. girder rails. Total mileage, including double track, 36 miles.
OFFICERS.-Pres., C. R. Morley, Cleveland; V.-P., David Morrison;
Sec., E. S. Cook; Treas., E. Wiebenson; Auditor, F. E. Wilkin; Gen. Mgr.
P. L. Mowry.-V. 76. p. 973; V. 86 p.1468.
•
CAPE MAY, N. J.
BURLINGTON, IOWA.
CAPE MAY DELAWARE BAY & SEWELL'S POINT RAILROAD.
-
PEOPLE'S GAS & ELECTRIC CO.
ORGANIZATION.-Owns all the stock, assets, franchises and good-will
of the Burlington Ry. & Light Co. Franchise expires in Feb. 1927.
STOCK AND BONDSInterest
Date.
Outstanding. Maturity.
Stock, $1,250,000.
$1,250,000
Burl Ry&Lt, 1st M,$750,0001 1897
5 g A-0
750,000 Oct 1191?
($500, &c), red after July 1 )Interest at American Trust Co., Bos., Trus.
1902 at 105, gold
cs1
Bands are guar. prin. and int. by endorsement by People's Gas & Electric
Co. of Burlington, and the latter has made a trust deed to secure the guttety.
EARNINGS.-For calendar year 1905, gross, $240,818; net, $111,241;
Interest, $37,500; surplus. $73,741.
ROAD.-Total track 17 miles trolley, including an extension to West
Burlington. 48 and 66-lb. T rail. Operates 22 motor and 25 trail cars.
OFFICERS.-Pres., G. H. Higbee; Sec. and Treas. C. H. Walsh.V. 64, p. 41, 468, 753; V. 68, p. 1022; V. 74, p. 1307.
BURLINGTON, VT
,
An electric and steam road.
ORGANIZATION.-Organizen under the general railroad laws of New
Jersey on Jan. 19 1893 by consolidation of the Delaware Bay & Cape May
RR.(owner of the Cape May & Sewell's Point RR.) and the Cape May da
Schellenger's Landing RR. Uses electric power for passenger service and
steam power for freight. In 1901 control passed to the Reading Company.
STOCK AND BONDSDate.
Interest, Outstanding. Maturity •
Stock paid in (par $50)_
$150,000
First snort. ($150,000)___cur. 1893
5
F-A
150,000 Feb. 1,1923
Other debts Jan 31 1908 _
204,125
In 1894 and 1893 but one interest payment was made, by mutual consent
of bondholders. Interest was reduced to 5% for 5 years from Feb. 11806
and remains at 5%. Trustee is N. J. Trust and S. D. Co., Camden, N. J.
ROAD.-Operates 6.94 miles of track extending to Cape May Point and
Sewell's Point. along the beach front through city of Cape May.
EARNINGS.-For year ending Dec. 31 1907, gross, $21,376; expenses;
$40,664; deficit, $19,288.
OFFICERS.-Pres., Geo. F. Baer, Philadelphia; V.-P., Theodore Voorhees, Philadelphia; Sec., W. R. Taylor, Philadelphia; Treas., Harry E.
Paisley, Philadelphia; Comp., Geo. Ziegler, Philadelphia; Supt., A. G. McCausland, Camden.-V. 72, p. 532.
BURLINGTON TRACTION CO.-A trolley road.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock, $200,000 (par $100)
$200,000 1007-08.6%
Win & B Horse RR 1st M,1 1894
6 g J-J
125,000 Jan 11014
$150,000, gold (1500 and)
Not subject to call before maturity.
CEDAR RAPIDS, IOWA.
$1,090)
c1 Interest at Burlington Trust Co., Trustee.
ROAD.-Owns 11 miles of track in city of Burlington. /tails 50 and
CEDAR RAPIDS-IOWA CITY RAILWAY & LIGHT CO.
60-1b. T. Owns 15 box cars; 14 open cars, 2 snow plows.
ORGANIZATION.-Incorporated in Iowa in June, 1903, and acquired
EARNINGS.-For fiscal year ending June 30:
Const. Bal.,sur. all the property and franchises of the Cedar Rapids Electric) Light & Power
•
Net. Charges. Divs.
Gross.
1907-08
$105,507 $32,583 $11,072 $12,000 821 ,868*$12,357 Co., the same being free from bonded debt. Has long-term franchises in
9,918
33,242
12,000
98,871
1906-07
12,000
*676 the cities and owns private right of Way 100 feet in width between them.
12,000
9,827
44,578
1905-06
16,719
98,571
6,032
Interest. Outstanding, Maturity.
STOCK AND BONDS- Date.
Common $1,700,000
$1,3
70
00
%00
7ju
* Deficit.
Pref.5% n. c. $300,000
ty'08 24%
Lyman;
V.
Flynn;
-P.,
Jno.
J.
OFFICERS.-Pres., Elias
Treas.; W. F. First mortgage $2,000,000,1 1903
5 g J-D
784,000 June 1, 1923
Hendee; Sec., C. W. Brownell.
c•1Illinois Tr. & Say. Bk., Chicago, co-trustee.
gold ($1,000)
Int. at Harris Tr. & Say. Bk., Chicago.
BUTTE, MONT.
Bonds.-So far $800,000 bonds have been Issued, but $16,000 have been
retired by sinking fund; additional bonds may be Issued for completBUTTE ELECTRIC RAILWAY.-Trolley.
interurban road at not exceeding 60% of cost, and
This company was Incorporated in West Virginia in December 1899 as ing and equiping
$200.000 after the road is completed, when in any year net earnings, after
successor to the Butte Consolidated By., sold at foreclosure.
Interest. Outstanding. Maturity. all expenses, shall have been twice the charges on bonds outstanding and
Date.
STOCK AND BONDSproposed to be issued. Remaining $1,000,000 may be Issued under
M-N
$1,000,000 Oct'06, 2% those restrictions
Stock,$1,000,000 (par $100)_ _
as to net earns.,for not exceeding 75% of cost of permanent
5 g M-S
700 000 Mch 1 1925 same
1st M, $700,000, gold,51,0001 1900
ell Int. at Mercantile Tr. Co., Boston, Trustee. additions, extensions or other railway, lighting or power companies. A
each
fund
began
sinking
April 1 1908, and bonds are subject to call on or after
Bonds.-May be called for payment on Mch. 1 1915, or on any interest
day thereafter. Sinking fund of 10% par value of bonds begins Mch. 1 1916, June 1 1913 at 1073 and interest. See V. 77, p. 2279.
Dividends.-In Jan. 1908, 2%%; July 1908, 23.%.
Dividends.-In 1905, 4%; in 1906, May, 2%; Oct., 2%; none since to
Sept. 1908-all earnings going into constructhn.
EARNINGS.-For year ending March 31 1908, gross, $303,192: net,
ROAD.-Operates 303. miles of track. 56-1b. T. rails.
$115,193; interest, $40,000; surplus, $75,193. For year ending March 31
EARNINGS.-For year ending Feb. 29 1908, gross, $475,138; net. 1907, gross, $260,355;
net, $71,055.
$103,2 0.
ROAD.-Operates 28 miles of track between Cedar Rapids and Iowa
OFFWERS.-Pres., W. A. Clark, Butte; V.-P., J. A. Macdonald 49
Standard
gauge;
City.
70-lb. T rails.
and
Treas.,
New
J.
H.
York;
Sec.
Wall St.,
Anderson, 49 Wall St., 11. Y.
-V 64, p. 663; V. 69, p. 1300; V. 72, p. 100.
OFFICERS.-Pres., Wm, G. Dews; V.-P., N. M. Hubbard Jr.; Sec.
and Treas., Isaac B. Smith.-V. 77,p. 2279; V. 79, p. 211.
CAIRO, ILL.
CAIRO ELECTRIC tc TRACTION CO -See under Danville, Ill.
CALAIS, ME.
CALAIS STREET RAILWAY.-A trolley road.
ORGANIZATION.-Stock, $100,000; first mortgage, 1898, 5s, J-J,
$100,000 due July 1 1908.
REPORT.-Year ending June 30 1907, gross, $28,466; net, $1,547;
Interest and taxes, $5,469; deficit, $3,922.
ROAD.-Calais Street Railway, lower wharf to upper bridge, Calais, 4
miles; St. Stephen Electric St. Ry., Milltown, N. B., to St. Stephen, N. B.,
3 miles; total, 7 miles. The St. Stephen Electric St. By. Is a separate
corporation, but is owned entirely by the Calais company.
OFFICERS.-Pres., George A. Curran; Sec., Charles F. Pray; Treas.
and Gen. Mgr., C. W. Young, all of Calais, Me.
CANON CITY, COLO.
CEDAR RAPIDS & MARION CITY RY.ORGANIZATION.-Pranchise expires In 1941.
STOCK & BONDS- Miles. Date. Interest. Outstanding. Maturity.
Stock $450,000 ($100)$445,000
First mortgage $250,000115.65 1891
5 J-J
205,000 July 1 1931
$1,000c
1Interest at American Trust Co., Boston, Trustee.
EARNINGS.-For calendar year 1907, gross, $170,904; net, $50,441.
In 1906, gross, $160,050; net, $53,745.
ROAD.-Owns road in operation 15.65 miles in length, extending from
Cedar Rapids, Iowa, to MArion; second track, 2.28; sidings, 2.35; total of
all. 20.28 miles. Rails, 45, 58. 60 and 80-lb. T and girder.
OFFICERS.-Pres., P. E. Hall; Treas., John S. Ely; V.-P. and Sec.,
Henry V. Ferguson; Supt.. F. L. Diserens.
CHAMBERSBURG, PA.
A
CHAMBERSBURO GREENCASTLE & WAYNESBORO STREET RY.trolley
road.
ORGANIZATION.-Incorporated in Pennsylvania on June 17 1901; also
CANON CITY FLORENCE & ROYAL GORGE INTERURBAN RY.- owns a turnpike road, 43 miles, capital, $100,000, and an electric-light
plant. canital, $30.000.
A trolley road.
In Feb. 1907 the Canon City & Royal Gorge Electric By. was Incorporated
In Colorado with $1,250,000 stock (of which $500,000 is 5% preferred) to
take over, it was understood, the old road. V. 84, la. 626.
ORGANIZATION.-Incorporated in Colorado in March 1906.
On Jan. 3 1907, Jas. H. Peabody was appointed receiver. See V. 84,
p. 101.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$1,500,000
Stock $1,500,000 ($100)_
5 g M-N
150,000 May 1 1926
First morgtage $500,000 gold) 1906
'Public Trustee of Fremont County, Trustee.
($500 and $1,000)
Bonds.-Are not subject to call.
ROAD.-Had under construction 3 miles in Canon City and 10 miles of
track from Canon City to the park at the top of Royal Gorge. Also
proposed to build from Canon City to Florence. 8% miles; and a branch
loop through Lincoln Park and South Canon,6 miles. Total, 27% miles.
OFFICERS.-Pres., F. B. Street, New York; V.-P. & Gen. Mgr., F. S.
Grange; Sec., Richard Houle; Treas., J. H. Peabody.-V. 83, p. 154
V 84. p. 101, 626.
CANTON, MASS.
BLUE HILL STREET RY.-A trolley road.
ORGANIZATION.-Franchise perpetual.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSStock $300,000 ($100)$300,000
5 g A-0
First mortgage $500,000 1 1903
250,000 Oct 1 1923
gold
f Interest at City Trust Co., Boston,
Trustee.
"Current liabilities" Sept. 30 1907
190,593
Bonds subject to call as a whole at 115 and Interest on any Interest day.
EARNINGS.-For 12 months ending Dec. 31 1907, gross, $89,946; net,
after taxes, $13,848; fixed charges, $23,279; deficit, $9,431.
ROAD.-Operates 19.6 miles of track from Mattapan, where connection
Is made with the Boston Elevated By., to Canton and Stoughton, at which
latter point it connects with the Bristol Ss Norfolk St. Ry. and the Old
Colony Street By. 43 cars.
In 1908 old stock was canceled and new stock issued to the amount of
$600,000 ($300,000 pref. and $300,000 corn.); also authorized $600,000
2d mtge. bonds to provide funds to complete extension to Chambersburg.
V. 85, p. 1338.
STOCK AND BONDSDate.
Interest. Outstanding, Maturity.
Common $300,000
$300,000
Preferred 8300,000
300,000
First mortgage $300,000 goidl 1903
5 g J-J
300,000 July 1 1933
($100 and $500)
c*J Interest at Chambersburg Trust Co., Trustee.
Second mortgage $600,000 1907
5A-0
1912
600,000
($1,000 and $500) gold __ lint. at Chambersburg Trust Co., Trustee.
Bonds.-FIrst mtge. bonds have no sinking fund and bonds are not
subject to call. Second mtge. bonds are subject to call in 1912 at 105.
EARNINGS.-For year ending June 30 1908, gross, $55,201; net, $28,979; fixed charges, $14,823; surplus, $14,156.
ROAD.-Operates 25 miles of track between Chambersburg, Greencastle
and Penn Mar. Gauge, 5 ft. 2% in. 70-lb. T and 80-1b. girder rail.
OFFICERS.-Pres., Geo. B. Beaver, Waynesboro; V.-P., R. W. Barn'
say, Chambersburg; Sec., H. B. McNulty, Chambersburg; Treas., D. Maurice Wertz, Waynesboro;Supt., J. E. Wayne, Waynesobro.
-V.85, p. 1338.
CHAMBERSBURG & GETTYSBURG ELECTRIC RY.
ORGANIZATION.-Incorporated in Pennsylvania Dec. 4 1900.
STOCK AND BONDSDate. Interest. Outstanding.
Maturity.
Stock $225,000 ($50)
$225,000
1st mtge. $225,000 ($1,000)5 1903
225,000 May 1 1933
5 M-N
not red, no sinking fund_c•lInt. at Northampton Tr.Co., Easton,trustee.
EARNINGS.-For year ending Dec. 311907. gross, $42,761; net, $1,412.
ROAD.-Operates 13.25 miles of track between Chambersburg, Stouferstown. Fayetteville, Greenwood and Mt. Union. 60 to 80-lb. T and
girder rail. Gauge 5 ft. 2% in.
OFFICERS.-Pres., M. C. Kennedy; Sec. and Treas., W. L. Ritchey:
Aud., C. M. Davidson; Supt., D. 13. Frety.
CHARLESTON, S. C.
CHARLESTON & SUMMERVILLE ELECTRIC RV.
A committee consisting of James M. Seignious, Chairman; Wilson G.
Harvey, James Allan Jr., R. B. Gilchrist and A. C. Kaufman. appointed at
a meeting of business men held in Charleston, S. C.. on Feb. 12 1908,
unanimously approved the plan for the completion of this road. See V. 86,
p. 667. Under plan, $300,000 common and $100,000 pref. stock was authorized May 20 1908. V. 86, p. 1409. It is proposed to take up existing
claims with pref. stock at par.
ORGANIZATION.-Incorporated in South Carolina in Feb. 1905.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSFtock $300,000 ($100)
Pref *100,000 ($100) 7% cum_
$750,000 April 1 1935
5 g A-0
First mortgage $1,000,0001 1905
ant. at Knickerbocker Tr. Co., N. Y., Trus.
gold ($1,000)
Bonds.-$250,000 are reserved for extensions and improvements. Are
subject to call on any interest date at 60 days' notice at par and interest.
No sinking fund.
ROAD.-Is to operate 28 miles of track from Charleston to Summerville.
Grading has been practically completed.
OFFICERS.-Pres., P. S. Wright; Sec., Geo. Tupper, Summerville.V.85, p. 1645; V.88, p. 667, 1099,1409.
CHARLESTON CONSOLIDATED RV., GAS & ELECTRIC CO.
ORGANIZATION.-Organized Feb. 21 1899 as a consolidation of the
Charleston City Ry. and Charleston &Seashore RR. under Special Act of
South Carolina Legislature, granting a perpetual charter and gas and electric
light powers.
Franchises are perpetual. Also owns the capital stock of the Charleston
Gas Light Co. ($698,150) and the Charleston-Edison Light & Power Co.
($100.000), and thus controls the whole field of light and transportation in
Charleston. In April 1899 bought the stock of the Mount Pleasant &
Sullivan's Island Ferry Co. and the franchise of the Middle Street & Suill
van's Island Ry.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS.
$1,50 J ,000 Jiy 1 u'08,1 A
J-J
Stock,$1,500,000 (par $50)._
78),000 Jan 1 1923
5 g J-J
Charleston City first mortgage) 1898
Tr. &S. D. Co., Bait
Mere.
$1,000) $850,000 gold_ __c)Tax free. Int. at
1,72,1,000 Mch 1 1999
5 g M-S
Consol mtge gold $2,500,0001 1899
Co., Trust.
Guar
&
Tr.
Bait
*j
at
Interest
coupon ($1,000)
,.
Holders can also collect coupons at Carolina Savings Bank, Charleston,
If presented before the 10th of the month.
Bonds.-01 the consolidated 5s. $850,000 were reserved to retire the
$850,000 City By. first 5s, of which 570,000 canceled under sinking fund
and consols issued to company in substitution.
Sinking Fund.-After 6% dividend has been declared on stock, a sinking
fund of $10,000 per annum becomes operative on consols.
Dividends.-First dividend of A % paid July 1 1903; in 1904, 1%: in
1905, 1A%;in 1906, 24%;in 1907, 24%;in 1908,Jan., 1 A%;July,1 A %
EARNINGS.-For fiscal years ending Feb. 28-29:
Net.
Fixed Charges. Surplus
Gross.
Year$98,573
$260,579
$162,006
$727,661
1908
82,846
239,946
157,100
854 391
1907
85,313
242,355
157,041
614,963
1906
60,207
155,543
558.046
215,750
1905
ROAD, &c.-Owns 40 miles of electric road, of which 30 miles in CharlesCharleston)
with
ferry
by
Pleasant
(connecting
Mt.
ton and 10 miles from
to Sullivan's Island and Isle of Palms, a pleasure resort on the Atlantic
coast, including land at Isle of Palms, ferry, &c. The company has consolidated all of Its three power stations; both railway systems and light and
power division are being operated from same stations; the seashore division
Is connected by submarine cable.
OFFICERS.-Pres.. Philip H. Gadsden; Managing Director, Samuel H.
Wilson, both of Charleston; Cashier, W. B. Glenn. Offices, No. 141
Meeting St., Charleston.-V. 81, p. 1789.
CHARLOTTE, N. C.
CHARLOTTE ELECTRIC RY.. LIGHT & POWER CO.-A trolley road.
ORGANIZATION.-Is a consolidation in Jan. 1896 of all the electric
lighting and street railway interests of Charlotte. Has since merged the
Charlotte Gas Light Co. Also controls the Dilworth Water Co. Franchise
Is said to be perpetual and exclusive until Jan. 26 1913. Stock is all owned
by the Charlotte Consolidated Construction Co.
Interest. Outstanding. Maturity.
Date,
STOCK AND BONDS.
$200,000
Stock (par $50
376,000 July 1 1929
5 g J-J
First mortgage $500,000 golcil 1899
($1,000) sinking fund___c*f Int. at Mere. Tr. & Dep. Co., Bait., Trustee.
(?)
Second mortgage $350,000_ _ 1905
Bonds.-On the first mortgage bonds a sinking fund is provided, operative
July 1 1900 of 1 % of bonds outstanding, to be invested in bonds drawn by
lot at 107A and interest, if not obtainable at lower figure in open market.
ROAD.-Operates 13A miles of track and 26 cars.
EARNINGS.-For 12 mnoths ending Dec. 31 1907, gross, $229,879; net,
$104,701; in 1906, gross, $209,066; net, $93,877.
OFFICERS.-Pres. and Treas. E. D. Latta; V.-P., E. B. Springs; Sec.,
V. 83, p. 890.
J L. Chambers.-V. 66, p. 384;'
•
21
ELECTRIC RAILWAYS
SEPT., 1908.]
CHATTANOOGA, TENN.
CHATTANOOGA RAILWAYS CO.ORGANIZATION.-Organized in Tennessee and is a consolidation in
Transit Co. of
April 1906 of the Chattanooga Electric Ry.. the Rapid By.
and North
Chattanooga, the Chattanooga Street By., the City Street
Chattanooga
the
of
stock
entire
capital
the
owns
Side Consol. By. Co., and
& Lookout Mountain By. Comprises all street railways in Chattanooga
and suburbs. Franchises are perpetual.
Interest. Outstanding, Maturity.
Date.
STOCK AND BONDS.
$2,000,000
Common $2,000,000 ($100)
1.000.000 Dec '07, 14
Q-M
Pt $1,000,000 ($100) (sec text)
1,575,000 May 1 1956
M-N
g
1906
5
$3,000.000)
mtge
First consol
($500 and $1.000) frold_c*f Int. at Tr. Co. of Nor. Amer., Phila., Trust.
625,000 Jan 1 1919
5 g J-J
Chatt Elec By 1st M $625,0001 1808
g not sub, to call ($1,000)c*J Int. at Maryland Trust Co., Bait., Trustee.
Stock.-Preterred stock is 5% cumulative after April 1 1908. It is redeemable at 107 after that date.
Bonds.-Of the $3,000,000 first consols, $625.000 are reserved to retire
prior liens; the remainder are for extensions and improvements at 85% of
cost. They are subject to call on any interest date at 107 and interest on
three months' notice.
Dividends.-First dividend on preferred stock (14 %) was paid Dec. 1
1906. In 1007, 5%. 'None since to &pt. 1908.
Latest Earnings.-For 6 months ending June 30 1908, gross, $240,453
net. $80,488; in 1907, gross, $249,790; net, $86,918.
EARNINGS.-For 12 months ending Dec. 31 1907, gross, $530,861
net, $184,189. In 1906. gross, $499,181; net, $176,899.
ROAD.-Operates about 65 miles of track in city and suburbs.
OFFICERS.-Pres. and Gen. Mgr., John Graham, Phila.; V.-P., Edgar
H. Butler, Phila.; Sec. and Treas., C. G. Lightfoot Jr., Phila.; Aud., Thos.
Linnenbrink, Chattanooga. Main office, Chattanooga; Philadelphia office,
Drexel Bldg.-V. 83, p. 562; V. 84, p. 50; V. 86, p. 793.
LOOKOUT MOUNTAIN RY.ORGAN'ZATION.-Owns and controls the Lookout Incline Co. and the
Lookout Incline & Lula Lake By, and the entire stock and bonds of those
companies is deposited under its new mortgage.
In July 1908 increased capital stock from $100,000 to $300,000.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS.
3300,000
Stock ($300,000)
See text May 1 1956
5g
First
mortgage ($500,000)1 1906
f Trust Co. of North America, Phila., Trustee.
gold
Bonds.-$50,000 has been authorized to be issued. None Issued yet.
EARNINGS.-For year end. Dec. 311907, gross, $50,838; net, $29,249.
ROAD.-Operates a cable road of 5,000 feet, and has 5 miles of electric
road on top of mountain.
, OFFICERS.-Pres., John Graham; Sec. and Treas., J. C.Lightfoot Jr.;
Supt., Wm. A. Rollins.-V. 83. p. 323; V. 87, p. 226.
CHICAGO, ILL.
2R
pagAeU
).RA ELGIN & CHICAGO RR.-ThIrd-rall electric (see Map on
20
ORGANIZATION.-Is a consolidation in April 1906 of the Aurora Elgin
& Chicago Railway, the Elgin Aurora & Southern Traction Co. and the
Cook County &Southern
V. 82, p. 279, 691, 1155. Does freightas
well as passenger business.
RR.V. 83, p. 490. Has exclusive contract with
Metropolitan West Side Elevated to operate over its tracks.
STOCK AND BONDSInterest. Outst'd'g. Div..Yedue date.
Date.
Q-J $3,100,000 Ju y I 08 31
Common $3,100,000 ($100)_
Pf $3,100,000 ($100) (see text)
3,100,000 July '08, 1)j%
Q-J
July 1 1948
1,100,000
First and refunding mortgage( 1906
5 g J-J
$25,000,000 gold ($1,000)_1 Int. at Cit. Say. & Tr. Co., Cleve., and also
In N. Y. Trustee, North. Tr. Co., Chic.
Apr 15 1941
A E & C By first mortgage) 1901 5 g A-0 15 3,000,000
$3,000,000 ($1,000) gold }Amer. Tr. to Say. Bank, Chicago, Trustee.
I Interest payable in Chicago and New York.
cannot be called
June 1 1916
5 g J-D 2,000,000
Elgin Aurora do Southern first) 1901
mtge. $2,000,000 ($1,000) Int at Amer. Tr. & Say. Bank, Chicago.
c*j Trustee, and First Nat. Bk., N. Y. City.
gold sinking fund
Stock.-Preferred stock is 5% cumulative until April 1 1909; thereafter
6% cumulative.
Bonds.-Of the $25,000,000 new bonds, $5,000,000 are reserved for prior
liens, $900,000 for improvements and extensions and $18,000,000 for
self-supporting acquisitions. They are subject to call on or before July 1
1911 at 102i and interest. Upon issuance of bonds reserved for acquisitions, a sinking fund becomes effective until said fund equals 25% of bonds
so issued. On the Aurora Elgin & Chicago Ry. a sinking fund of $50,000
per annum commences on April 15 1911. See V. 74, p. 726. On the Elgin
Aurora & Southern bonds, a sinking fund Is $17,000 per annum first five
years and $25,000 annually thereafter; $161,000 have been purchased and
are now held in sinking fund.
Dividends.-First dividend on preferred-1 %-paid July 1906 (V. 82.
p. 1436), and the same amount quarterly since then up to and including
July 1908. On common, first dividend-4%-Oct. 7 1907. In 1908,
Jan., 4,%; April, %; July, %.
REPORT.-For fiscal years ending June 30:
Net.. Fixed Charges. Surplus.
Gross.
Year$299
$1,401,106
$634,129
$334,403
1908
726
290,720
319,100
609,820
1,332,597
1907
236,410
294,018
530,428
1,175,821
1906
ROAD.-Operates from Fifth Avenue station in the City of Chicago, over
tracks of the Metropolitan West Side Elevated road; thence on its own line
to Wheaton, with lines from Wheaton to Elgin, Batavia and Aurora; also
from Elgin to Carpentersville,Dundee, St. Charles, Geneva, Yorkville and
Bristol. Total single track, 155 miles. Third rail, standard T. 100 lbs.;
track rails, 80 lbs.
OFFICERS.-Pres., L. J.Wolf. Cleveland; V.-P.. M.J. Mandelbaum; Sec.
and Treas., H. C. Lang, Cleveland; Aud., C. E. Fienner; Gen. Mgr., Edwin
83, p. 212,
C. Faber, Chicago. Office, 630 The Temple, Chicago.
490;V.84, p. 101; V.85,p. 721.
CALUMET & SOUTH CHICAGO RY.-Electric. (See Map on page 23.)
Same interests control Hammond Whiting & East Chicago Electric By.
uliGAAIZATION .-Is a consolidation formed in 1908 of the Calumet
Electric Street By. and South Chicago City Ry. In accordance with the
terms of ordinance passed by the City Council March 30 1908. Lines
are located in the south division of the city of Chicago. The ordinance
grants franchises until Feb. 1 1927 and provides that the city is to receive
55% of net receipts after allowing for operating expenses, taxes and depreciation and 5% on present value, together with amounts expended for improvements and extensions. The company on Its part agrees to rehabilitate
its property completely and make certain improvements and build
considerable new mileage. Interchange of transfers with Chicago City
By. by establishing four transfer zones is provided, but in three of these
zones free transfers cannot be compelled unless net earnings for preceding
year were equal to 5% on the investment and the company's share of the
net earnings amounts to 1 % additional. City may purchase property
on Feb. 1 or Aug. 1 of any year upon six months' notice, for present value,
which is fixed at $5,000,000 plus amount expended for improvements,
additions and extensions, but only for municipal operation where purchase
is made prior to Feb. 1 1027. With an addition of 20% in price, city may
also purchase for the purposeofiturnIneproperty-over to other parties (It
purchased tfor‘ChicagolCity Ry. only 12% additional need be paid), but
thls'additionallsumTneed not be paid where these other parties agree to pay
overtto the:city all of the profits above 5% on the purchase price. V. 86,
p. 1223.
Operating Agreement with Chicago City Railway Co.-On June 29 1908 Chicago City CounclIfapproved agreement by which Chicago City By. agrees to
operate Calumet & South Chicago By. Co.'s street railway system, and to
place in operation the zone system of transfers, as described above. The
latter company agrees to pay actual cost of this operation, and joint costs
are to be paid by both companies in proportion to gross receipts of each,
with certaln exceptions. In addition, Calumet & South Chicago Ry.
will pay Chicago City Ry. 4 of the actual saving In oper. exp. resulting
from joint operation, such saving to be determined by a board of engineers.
See V. 87, p. 224.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$5,000,000
Stock. $5,000,000 ($100)
500,000 Feb 1 1928
5 g F-A
First mortgage rehabilitation1 1908
($1,000) gold. No sink fd c*fInt. at First Trust & Say. Bk., Chic., Trustee
5.000,000 Feb 1 1928
5 g F-A
2d mortgage consolidated,$5,-1 1908
000,000 ($1,000) gold_ _0'Int. at First Tr. do Say. Bk., Chic., Trustee.
Bonds.-The issue of lst•mtge. bonds is indeterminate, amount to be
limited to amount of new work done on property. They are subject to
bonds are subject to call at
call at any int. date at 105. The consol.
liens. AiNeitherAissue of bonds
mtge.
103. They were Issued to take up all prior
has a sinking fund.
EARNINGS.-Combined earnings of the two constituent companies in
cal. year 1907, before consolidation and before:rehabilitation, were $875,015
gross and $258,602 net.
1tOAD.-0p3rates about 114 miles of track reaching South Chicago,
Pullman, West Pullman, Auburn Park, Burnside and Manhattan Beach.
Also extends fro Jackson Park to 106th Street and the Indiana State line
along the Lake shore and both sides of the Calumet River. 70, 75, 83 and
85-lb. rails.
OFFICERS.-Pres., Ira M. Cohe: V.-P., D. M. CummInces: Sec. and
Treas., 0. S. Gaither.-V.86, p. 917, 1223, 1342; V. 87, p. 224, 285.
JCHICAGOICITYIRAILWAY.-An electric road. (See Map on page 24.)
InlJan. 1905 control was purchased by Marshall Field, John J. Mitchell
and P. A. Valentine for $200 a share on behalf of J. P. Morgan & Co. and a
syndicate.
ORGANIZATION.-Incorporated in Feb. 1859, and has extensive surface road privileges in the south division of Chicago.
New Ordinances and Franchises.-On Feb. 5 1907 the City Council passed
ordinances providing for a settlement of the franchise question. These
ordinances were approved at the city election on April 2 1907 and formally
accepted by the company's board of directors on April 12 1907. An extended outline of these ordinances, one to the Chicago City Railway Co.,
and covering the lines operated by that company, and the other to the Chicago Rys. Co. and covering the lines of the former Chicago Union Traction
Co.(now thedhleago Railways Co.), was given in V.84, p. 1123. The value
of the tangible and intangible property of the former system at date of
the ordinances was fixedratT$21,000,000. The city or any company authorized by It is given the right on Feb. 1 or Aug. lot any year, on six
months' notice, to purchase the entire property of the two systems, or either
of them, at their value at date of ordinance, plus,"the cost of rehabilitation
and extensions, Including fair allowances for construction, profit'and
brokerage." But tif the 'properties are acquired for operation by a private corporation. Iorlits own profit, the purchase price is to be)increased
20%-barring the case of a private/company which might'be willing to
turn over to the city all profits/above 5% on the cost of the investment.
The companies are limited during itheir operation to an Interest return
of 5% upon the agreed (value /plusithe cost of rehabilitation and extensions. All net profits above this are to be divided on the basis of 55%
to the city and 45% to the'companies, but a deficit in any year is to be
made good out of the profits of subsequent years. After April 1511910 the
companies are required to set aside 6% of the gross receipts for maintenance
and repairs and an additional 8% of the gross receipts to cover renewals
and depreciation. Whatever portion of the two funds is not used, remains
In the funds and passes to the city or Its licensee upon purchase. But if
the two funds are not sufficient for the purposes named, the companies
are obligated to supply additional funds.
CAR FENTERSVILLE
To Belvidere3
CONNECTING WITT'
MAP OF THE
°Clarks
/AuNQEE
Rockport, Freeport,
Beloit and Janesville
AURORA, ELGIN & CHICAGO
RAILROAD
R, B. PARK
.Almora
AND
ELGIN
CONNECTING
LINES
Schaumberg
Des Plaines
o SpaUiding
NTON V I LLE
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ELEcrrRic RAILWAYS
SEPT.. 1908.1
23
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ELECTRIC RAILWAYS
Free transfers are required over all connecting lines within the city limits
covered by the Chicago Railways Co., the Chicago City Ry., the Chicago
Consolidated system and the Chicago General Ry., provided the passenger
has paid a five-cent fare and is traveling in any one general direction.
Certain extensions are provided, and the Chicago City Co. agrees to construct in addition the equivalent of 8 miles of single track and the Chicago
Railways system the equivalent of 12 miles of single track, in each year
after the third year. The companies also agree, upon demand of the city,
to furnish funds not exceeding *5,000,000 in the aggregatefor the construction of a central down-town subway to be built and owned by the city,
two-fifths of the cost to be borne by the Chicago City Ry. and three-fifths
by the Chicago Railways. Section 25 of Chicago City Ry. ordinance fixes
the capital investment limitation of the company as follows: "The company shall not be required on account of any extensions or subways or on
account of underground trolleys, or on account of any extensions of its
street railways, other than the extension provided for in exhibit "A,"and
In Section 36 of this ordinance, and four (4) miles of double or eight (8)
miles of single track per annum, as in Section 3 hereof provided, to increase
its total capital investment to such an extent that the return thereon over
and above the interest charge of 5% thereon by this ordinance authorized
would be reduced to an inadequate or unreasonably small amount."
The franchises granted by the ordinances run until Feb. 1 1927. The
city reserves the right at any time to commute a sum not exceeding the
city's share of the net receipts for the previous year into a reduction of the
After one year cars may no longer be run in trains, but
rates of fare
must be operated singly.
It is estimated that the Chicago City Ry. will be called upon to spend
during three years following acceptance of ordinance some $16,000,000
for rehabilitation. For indication how money will be needed, see V. 85,
p. 529. For work already done, see V. 87, p. 677.
Under an operating agreement entered into 1 t 1908, operates the Calumet
& South Chicago Ry. and will also direct the work of its rehabilitation.
STOCK AND BONDS- Date. Interest. Outstanding. LastDiv.,&c.
Stock, $19,000,000 ($100)_ _
Text Q-M30 $18,000,000 tp30'08,1 3 %
15,500,000 Feb 1 1027
5 g F-A
First mortgage ($1,000), gold l 1907
c*JFirst Trust & Say. Bk., Chicago, Trustee.
Bonds.-There is no limit to the amount of bonds that may be issued
under the above m ,rtgage. Bonds can be called at 110 and imerest on or
before Feb. 1 1912, but not thereafter. Under the Chicago city ordinance,
In case of purchase the city has the right to redecm bonds before maturity.
V. 84,p. 1488, 1550. $1,000,000 bonds are in treasury.
DIVIDENDS.-Usually 12%, were in 1893 24%; 1899-1900, 12%; in
1901, 10%%;in 1902-1906, 9%;in 1907, 63(%; in 1908 extra div. of 2I%
paid Feb. 10; March, 134%; June, 13%;Sept., A %.
ROAD, &c.-On Jan. 1 1908 company operated 244 miles of track,
all now operated by electricity. System covers the South Side of Chicago,
extending from the centre of the business district south to 79th Street and
between the South Branch of the Chicago River and the Lake. Cars required by Ordinance Jan. 1 1908, 805 double-track cars, 251 single-truck
cars: total. 1.056.
LATEST EARNINGS.-For six months ended July 31:
Balance --Of Which toMt. on
Net
Gross
Six
Invest. Divisible. Co. 45%. City 55%
Earnings.
Mos. Earnings.
1908 __$4,161,127 $1,248,387 $751,902 $496,485 $223,418 $273,067
278,218
225,348
503,566
576,037
1,079,603
1907-- 4,057,336
REPORT.-For 1907 covers the 11 months ending Dec 31, under terms
of ordinance of 1907, with net income for month of Jan.1907, under individual operation prior to date when said ordinance took effect. The divs.
as shown below include the "extra" 2;i% declared payable Feb. 10 1908
(see V. 88, p. 594).
Pass. receipts (11 mos.)_a$7,960,635 Int. on capital invest_ y_ __$1,116,386
102,059
Other receipts (11 mos.)
Inc. from op. (11 mos.)_$1,634,976
$7,562,694 Net income Jan. 1907 (net
Total receipts
281,582
1908)
Oper. exp., taxes, renewals and int. on invest__ 6,410,273
$1,916,558
Net income
1,620,000
$1,152,4211Dividends (9%)
Net earnings
,
633,8311
City's proportion (55%)_ ..
$296,558
518,590
Balance, surplus
Company's prop. (45%)_ _
a The passenger receipts as above compare with those for full calendar
years as follows: In 1906, $7,773,446; 1905, $7,240,671; 1904, $6,009,501.
y The "Interest on capital investment," $1,116,386, is that certified by
board of supervising engineers, as provided by the ordinance of Feb. 111907.
OFFICERS.-Chairman Ex. Corn., J. A. Spoor; Pres., T. E. Mitten;
V.-P., R. B. Hamilton; Sec. and Treas., F. D. Hoffmann; Aud.,J.J.Duck.
-V.88, p. 284, 475, 544, 545, 668, 856; V. 87, p. 677.
road.
CHICAGO & SOUTHERN TRACTION CO.-An electric
ORGANIZATION.-Incorporated in 1904. In July 1907 purchased the
Chicago Electric Traction Co. (successor to the Englewood & Chicago Electric Ry.) at foreclosure sale. Of the $5,000,000 bonds given below, $2.500,000 have been issued and are intended to complete the road to Kankakee
Ind., and for the purpose of paying the $650,000 bonded debt of the Chicago
Elec. Traction Co., V. 85, p. 159. The remaining $2,500,000 is to be used in
completing road to Lafayette. Private right of way'outside of towns.
Maturity.
Interest. Outstanding.
STOCK AND BONDS- Date.
(?)
Stock, $5,000,000_
1937
5
$2,500,000
First mortgage, $5,000,000___ (1)
ROAD.-The Chicago Electric Traction operated 31 miles of track from
63d St. to Blue Island and Harvey. The new company Oct. 1907 completed
and put in operation a line'to Kankakee, 30 miles. Extension to Lafayette
contemplated.
OFFICERS.-Pres., Matthew Slush; Sec. and Treas., C. J. Reilly; Gen.
Mgr., W. H. Conrad.-V. 85, p. 283.
CHICAGO & MILWAUKEE ELECTRIC RR -A trolley road.
Receivership.-On Jan. 28 1908 Judge Grosscup appointed W. Irving
Osborne, Vice-Pres. Central Trust Co., Chicago': D. B. Hanna, Vice-Pres.
Canadian Northern By., Toronto, and Albert C. Frost, Pres. of the com pany, receivers. George G. Moore was subsequently substituted for Mr.
Frost. See V. 86, p. 284, 337, 1223. April 1908 Judge Grosscup authorized the Wisconsin corporation to issue $1,000,000 receiver's certificates to
complete road (V. 86, p. 917, 1159, 1223.) Interest due July 1 1908 on
the $4,000,000 bonds of 1902 was defaulted; the interest due on the $1,000,000 1st mtge. bonds of 1899, however, was paid. Default also occurred on
the Wisconsin Division bonds July 1 1908. V. 87, p. 96.
ORGANIZATION.-Incorporated under the general railroad laws of
Illinois and Wisconsin and has the same privilege as steam roads. This
company was successor by purchase on Dec. 31 1902 of the Chicago & Milwaukee Electric Railway Co. Leases the Chic. & Milw. Elec. RR. of Wisconsin for 50 years from 1005, and guarantees its bonds, both principal
and interest. In Nov. 1905 the Kenosha Electric By. was acouired
by A. C. Frost, Pres. of the 0. & M. In Oct. 1905 he also purchased the
Wauliegan Fox Lake & Western RR., which operated 1% miles of track in
Waukegan. Does a freight business. Franchises, except 4, are perpetual;
serves 25 cities and towns.
Date.
STOCK AND BONDSInterest. Outstanding. Maturity.
$5,000,000
Stock, $5,000,000
1,0 0,000 July 11010
5 g J-J
& M E RY 1st M,$1,500,000 1899
g ($1,000 each) c; may be Int. at Standard Trust Co., N.Y., and Clevecalled any interest day ati land Trust Co., Trustees, Cleveland Trust
J Co. and Royal Trust Co., Chicago.
105 and interest
4,000,000 July 1 1922
5 g J-J
0 & M E RR 1st M. $5,000,4 1902
ci Int. at Merchants' Loan & Tr. Co., Chicago.
000, gold ($1.000)
Trustee, or Nat. Bk. of Commerce, N. Y.
10,000,000 Jan 1 1925
5 g J-J
Wisconsin Division, 1st mtg, 1905
guar, gold, $10,000,000 Interest at West. Tr.&Say.Bk.,Chic.,Trustee
Co., New York.
S.
U.
Trust
or
&
Mortgage
($1,000)
6 M-N 11
1911
1,000,000
Receiver's certs $1,000,0001 1908
($1,000)
authorized,
Railroad
Company
bonds
$1,000.$5,000,000
Bonds.-01 the
000 are reserved to retire a like amount of bonds of the Railway Company.
Bonds are not subject to call. See V. 76, p. 211; V. 78, p. 1496.
Sinking fund on the Railway bonds of $50,000 per year begins with July 1
1010. No more than the $1,000,000 of these laonds outstanding wlll be
Issued. These bonds are subj, to call on any int. date at 105 and interest.
The Wisconsin Div. bonds are guar., prin. and int., by the Chic. & MI1..
El. RR. of III. No s. 1. and are not subject to call. Of the $10,000,000 reported outstanding, $1,157,000 is pledged as collateral for notes and loans.
A $2,000,000 issue of 6% notes was authorized in 1907 (V.85, p. 920),
but It is understood that not more than $121,000 of these notes were issued
against which $203,000 of Wisconsin Div. bonds are pledged. V.86 p 337.
The receiver's certificates arc a prior lien only to the $10,000,000 Wisconsin Division 5s due 1925. They are subject to call at option of receiver.
V. 86, p. 856, 1159, 1223.
25
REPORT OF EXPERT ACCOUNTANTS.-See report in V. 87. p. 225
Earnngs of system, as re-stated by accountants, omitting all freight
earnings and expenses on construction material hauled, were as follows:
Balance,
Bond
Net
Calendar
Operating
Gross
Deficit.
Interest.
Earnings. and Taxes. Earnings.
Year$92,621
$88,878
$104,448
$131,500
1903
$193,326
153,646
60,354
214,000
180,516
1904
240,870
299,019.
59,981
309,000
242,682
1905
302,663
395,211
71,289
369,976
466,500
1006
441,265
598,605
696,500
97,897
458,950
1907
556,847
Tot.(5 yrs.)$1,734,971 31,356,572 $378,399 $1,817,500 $1,439,10(1
ROAD.-Operates 140 miles from Evanston through Waukegan aria
Kenosha to Racine, Including extension to Libertyville. Line from Evanston (where connection is made with Chicago) to Waukegan was opened in
Aug. 1899, and extension to Libertyville in Sept. 1903, and to Rockefeller
in March 1905; 38 miles additional to Zion City and Kenosha were placed
in operation Dec. 2 1905 and the line to Racine on Sept. 1 1906. Total
mileage 186. Road is completed to within 6 miles of Milwaukee. Remainder expected to be completed in 1908. Practically all the road is built on
private right-of-way and the road Is double-tracked throughout. Rails,
65 and 85-lb. V. 67, p. 600.
OFFICERS.-Pres., A. O. Frost; V.-P., Gordon A. Ramsay; Sec.. Pierre
G. Beach; Treas., W.0. Kilman; Gen. Mgr., R. B. Stearns.-V.86, p. 51.
107, 284, 337, 668, 856, 917, 1159, 1223, 1909; V.87, p. 96, 225.
(See Map on page 26.)
CHICAGO RAILWAYS CO.-An electric road..
ORGANIZATION.-Incorporated in Illinois in Oct. 1903 and on Jan. 25
1908 acquired at foreclosure sale the property of the old Chicago Union
Traction, comprising the lines of the North and West Chicago Street RRs.
The purchase was under a plan of reorganization and readjustment dated
Oct. 15 1907 and outlined in V. 85, p. 1269; see also page 1576. The former properties had first been leased to the Chicago Railways Co. tor 20
years, but leases were terminated on confirmation of sale of Chicago Union
'Fraction to Chicago Rys. Co. The reorganization was in conformance to
the terms of the traction ordinance for this company and the Chicago City
By. passed at the popular election in Chicago in April 1907 (see remarks
under Chicago City Ry. and V. 84, p. 1123), and finally amended and approved by Judge Grosscup and Mr. Gray, the arbitrators. The companies
embraced in the reorganization were the following:
Chicago Passenger Ry. Co.,
North Chicago City By. Co..
West Chicago Street Railroad TunChicago West Div. By. Co.,
nel Co.,
North Chicago Street RR. Co.,
Chicago U nion Traction Co.
West Chicago Street RR. Co.,
Franchises.-On Feb. 5 1907 the City Council passed ordinances providind for a settlement of the relations between the city and the street
railway companies. V. 84, p. 338. 390. The franchises granted by the
ordinances expire Feb. 11 1927.
• In the remarks concerning theChicago CRy By.on a preceding page of this
publication will be found a brief summary of the main terms, requirements
and conditions of these ordinances. A very extended outline of the same
was printed in the "Chronicle" of May 11 1007, pages 1123, 1124 and 1125.
to which the reader is referred for detailed information.
The ordinance for the Chic. Rwys. Co. requires that within three years
from Feb. 11 1907 the company shall free the properties from all of the old
liens, which requirement the Chic. Rwys. Co. will be able to fulfill. The
ordinance further provides that the valuation of the properties acquired
shall be deemed and considered to be $29,000,000 (the value fixed by a,
board of expert engineers acting for the city), plus $1,779,875 for expenditures from the date of the valuation on June 30 1906 to Feb. 1 1907, making
the total valuation of the properties as recocrnized by the ordinance $30.779,875 as of Feb. 1 1907. On July 31 1908 amount was $33,821,997. V. 87.
p. 677.
All expenditures for reconstruction and extensions are to be made under
the direct supervision of a board of supervising engineers, headed by Mr.
lion J. Arnold, and the company is required, under conservative restrictions, to advance moneys for the construction of subways by the city.
The expenditures for reconstruction and extensions, Including any contributions for subways, after Feb. 1 1907 are to be added to the value of the.
properties recognized by the ordinance, together with 5% of such expenditures for brokerage. As compensation for its services In construction,
the company will receive an additional 10% of all expenditures for reconstruction and extensions, exclusive of amounts contributed for subways.
The company agrees to lower and reconstruct the tunnels under the
Chicago River at Washington, La Salle and Van Buren streets. The
ordinance requires through routing over certain lines of the Chicago
City By. Co. and the exchange of transfers with that company. The lines
of the Chicago City Ry. Co. cover what is known as the South Side of Chicago, and the lines of the Chicago Rwys. Co. the North and West Sides.
Right to Purchase by City.-Under the terms of the franchise,the company
has agreed to waive all rights under previous grants, and has granted the
city an option to purchase all of its property for municipal operation at
any time prior to the expiration of the 20-year franchise granted the company by the ordinance. The price to be paid by the city to be $30,770,875, the valuation of the properties February 1 1907, as above mentioned, plus all expenditures after that date for reconstruction, extensions and additions to the properties, including any amounts advanced to
the city for construction of subways In the downtown business district.
In case the property shall not be purchased, as above stated, prior to 1927,
the expiration of the present franchise, the city covenants that it will not
then grant a franchise to any other corporation for the operation of a competing system in the company's territory, unless such other corporation
shall purchase the property of the company at said price. The city also
has the option of requiring the company to sell its property to any other
licensee corporation of the city, or to purchase the property itself for municipal ownership (with no requirement as to municipal operation) at any time
during the life of the franchise; but in case of such purchase by the city
or a licensee,the price to be paid shall be 20% more than the price above
mentioned. In any event (1) the purchase price must be paid in cash and
deposited in national or State banks, each of which must have a capital
and surplus of at least $1,000,000,and must be approved by the company,
and the first mortgage bonds of the company will attach to such cash as a
first lien In the event of such purchase; or (2) such purchase (if made within
said 20 years) must be consummated expressly subject to the lien of the 1st
mtg. bonds, but if made at the expiration of said 20 yearS,the amount thereof
must also be so paid In cash.
Compensation to City.-The company is entitled to a straight 5-cent fare,
with universal transfers. In turn provision is made for special compensation to the City•of Chicago, but this compensation is payable only out of
the surplus earnings of the company after paying or providing for all operating expenses, including the charges for maintenance and depreciation
prescribed in the ordinance, and 5% upon the valuation of the company's
property at which it may be purchased by the city for municipal operation,
as above stated. Of the surplus earnings so remaining, the City of Chicago
receives 55% and the company 45%.
Control by Trustees.-The trust Indenture securing the participation
certificates provides that until Aug. 11912,andito the fulllextent thereafter
which may be permitted by law until all of the consolidated mortgage bonds
of the company shall be fully paid and discharged, the directors of the
company shall be elected by Messrs. A.C. Bartlett, Chauncey Keep,Charles
H. Huiburd, Albert A. Sprague and Charles G. Dawes of Chicago, and provision is made in the trust deed securing the 1st mtge. bonds for the appointment of a permanent finance committee,composed of Messrs. Henry A. Blair.
Chauncey Keep and B. A. Eckhart of Chicago.
Maturity.
t
setex.
Interest. Outstanding.
STOCK AND BONDS- Date.
Stock, $100,000
$8,000,000 Feb 1 1927
5 F-A
( 1907
First mortgage (see text)_- - Int. at Harris Trust & Savings Bk., Trustee,
c&ri or at N. W. Harris & Co., New York.
($1,000) gold
4-5%
39,387,845 20 years
Consol mtge,$39,794,000,gold ____
5,000,000 Feb 1 1913
6 F-A
Collateral notes, $5,000,0001 1908
c• f Union Trust Company, Chicago, Trustee.
($1,000) gold
1,200,000 Feb 1 1913
6
1908
notes,"
$1,200,0001
"Funding
j Union Trust Company, Chicago, Trustee.
1913
500,000
5
Collateral notes. $500,0001908
The above shows the capitalization as it will stand after complete reorganization. A few liens remain outstanding for the time being, as follows:
West Chicago Street RR.87,000 Nov 1 1908
6 g M-N
ooer obligations gold' 1904
r
sit
Eniu
1 Interest at Standard Trust Co., New York.
North Chicago Street RR.
43,000 Nov 1 1908
6 g M-N
Equipment obligations, gold' 1904
(Interest at Standard Trust Co.. New York.
($1,000)
1909-10
222,000
6
1906
__
certificatesTrust
Rec Car
Stock.-The capital stock of the company, which is issued in the nominal
amount of $100,000, has been made the subject of a trust agreement, dated
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Aug. 1 1907, and executed Jan. 25 1908, by and between the Chicago Railways Co. and Messrs. Adolphus C. Bartlett, Chauncey Keep, Charles H.
Hulburd, Albert A. Sprague and Charles G. Dawes, as depositaries, and
Central Trust Company of New York, as custodian. Under this agreement
the stock serves as a basis for the issue of the participation certificates,
representing in all 265,100 equal parts. Series 1 consists of 30,800 parts,
Series 2 of 124,300 parts, Series 3 of 60,000 parts and Series4of 50,000 parts
Series 1, 2 and 3 are entitled, in the order of priority named, to cumulative
•dividends of $8 for each part, beginning with year ending Aug. 1 1908,and in
the distribution of capital to $100 for each said part. Series 4 Is entitled
to any remaining profits or capital distributed. V. 85, p. 1269.
Dividends on participation certificates Series 2 are limited to $4 on each
certificate ($497,022 16 for the series) so long as more than 50% of Series C
bonds remlan outstanding, and thereafter to $5 per certificate ($621,277 70
for the series) until the remainder of Series C bonds is redeemed. Series 2
'however, is entitled to unpaid accumulation on account of its $8 per certificate (beginning with the year ending Aug. 1 1908), but only when earned
and after payment of all accumulations of sinking fund and of dividends on
Series 1.
Bonds.-First mtge. bonds are issued only to provide funds for rehabilitation, extensions, &c. They may be redeemed at par and accrued interest
on any Interest day. The bonds have a first lien on the entire property,
rights and franchises of the company. The authorized issue is limited to
the aggregate of the amounts approved from time to time by the board of
supervising engineers; the first issue of $5,000,000 was purchased by N. W.
Harris & Co. and the National City Bank of New York; in May 1908 same
parties purchased an additional $3,000,000. V. 86, p. 284, 1409. See
full particulars of bonds, property, &c.. In V. 86, p. 545.
The consolidated mortgage consists of Series A for $18,600,000, Series B
for $17,194,000 and Series C for $3,593,844 (originally $4,000,000, but
reduced to this amount by sinking fund). Series C bonds have sinking
fund of $250,000 per annum,if earned, beginning Aug. 1 1908, but cumulative until paid. Of the Series A bonds, $17,900,000 have been issued,
of which $8,632,800 are outstanding in hands of public, $6,767,200 are
deposited as collateral for the $5,000,000 6% 5-year "collateral" notes
and $1,666,000 for the 5-year 6% $1,200,000 'funding notes": also
*834,000 as security to *500,000 notes issued in exchange for North Ch. City
Ry. bonds. See particulars V. 86, p. 1223. Bonds of 3 series bear interest
at 4% until Feb. 1 1912 and 5% thereafter. Both the "collateral" and
"funding" notes are redeemable on Feb. 1 1911 or any interest date thereafter-the "collateral" notes at par and interest and the "funding" notes
at 101 and interest
There is also outstanding a $485,000 short-term note
(issued in settlement with Guaranty Trust Co.) which is secured by Series C
bonds. V. 86, p. 1223.
ROAD.-Comprises 306.446 miles of teack. serving the North and West
Sides of the city,exclusive of mileage of Chicago Consolidated Traction.
EQUIPMENT.-Feb. 1908 equipment consisted of 1,175 single and
double-truck motor cars and 343 single and double-truck trail cars. Prior
to Feb. 1 1911 company must provide 1.200 double-truck closed cars of
modern type specified in franchise ordinance. Delivery of 600 "pay-asYou-enter" cars is expected in Sept. and Oct. 1908.
LATEST EARNINGS.-For 5 months ended June 30:
To City To Co.
Five
30% of Int.,5% Bal.
Gross
Net
45%.
Mos.- Income. Earnings. Gross. on Invest. Divisle. 55%.
1908____4,318,059 1,272,187 1,295,417 685,335 610,082 335,545 274,537
1907____4,217,108 1,230,703 1,230,747 642,267 588,480 323,697 264,783
REPORT.-For year ending Jan. 31 1908 gross income from all sources,
$10,560,571; expenses and taxes, $7,392,400; net, $3,168,171; interest
at 5% on valuation, $1,566,159; net Income, $1,602,012, of which $881,106
(55%) to the city of Chicago and $720,906 (45%) to Chicago Railways Co.
OFFICERS.-Chairman Board of Directors. Henry A. Blair; Pres..
John M. Roach.
INDEX.-V. 86, p. 51, 167, 228, 284, 420, 545, 602, 856, 1039, 1153,
1223, 1284, 1409, 1529: V. 87, p. 677.
(1) Chicago Consolidated Traction.-Electric roads.
The Chicago Railways Co. Is understood to own all but $28,500 of the
$15,000,000 stock of the Chicago Consolidated Traction Co.
ORGANIZATION.-The Chicago Consolidated Traction was organized
IniFeb. 1899 to unite the suburban lines of North Chicago and West Chicago.
(V. 68, P. 769)•
Default.-The company defaulted June 1 In the payment. of the semiannual interest on its $6,750,000 44% general mortgage bonds. The
default is believed to be preparatory to reorganization and merger with
the Chicago Railways Co. V. 86, n. 1409. For bondholders' protective
committees, see V. 86, p. 1528, and V 87, p. 165, 346,
Receivership.-On June 25 1908 Judge Grosscup appointed David R.
Forgan and John M. Roach, Pres. of company, receivers in foreclosure suit
brought by Central Trust Co., trustee of 1st mtge. V. 86, p. 1589.
POPurchase of Coupons of Underlying Companies by Chicago Railways Co.
See explanation In V. 86,n. 1159, 1284. Interest due Aug. 1 1908 on underlying bonds was paid; V.87, p.414.
STOCK AND LONDSDate.
Interest. Outstanding. Maturity.
Stock, $15,000,000
$15,000,000
First mortgage, gold, $6,4 1899
4 J-D
6.750,000 Dec 1 1939
750,000
1Central Trust Co., N. Y., (new) Trustee.
-.The bonds for $6,750,000 were guaranteed, principal and interest, by the
Chicago Union Traction. The Chicago Consolidated Traction when it was
organized assumed the bonds of the constituent companies (which It agreed
• to guarantee) and also the lease of the Chicago North Shore Street Railway,
under which 6% dividends are paid on the $650,000 stock of the latter.
The statement to the New York Stock Exchange under date of March 27
. 1899 showed that the mortgage indebtedness of the constituent companies
assumed aggregated $6,085.000,including the $650.000 stock of the Chicago
North Shore Street By, Below is the debt of the constituent companies
of which the Consol. Trac. owns $174,000 bonds of Ogden St. By., $52,000
of.Clcero & Proviso St. By. and $1,000 Chico o & Jefferson Urban Transit.
OBLIGATIONS OF SUBSIDIARY COMPANIES.
Chicago Electric Transit.
BONDSInterest. Outstanding. Maturity.
Date,
81,007,000 Aug 1 1914
1st mtge, no option ($1,000)- 1894
6 F-A
Interest is payable at office of trustee, the Illinois Trust & Savings Bank.
This mortgage provided for the issue of $2,000,000 bonds at not exceeding
'the cost of improvements, extensions, he., and for additional bonds at not
above 75% such cost.
Chicago & Jefferson Urban Transit.
Interest. Outstanding. Maturity.
Date,
$208,000 Nov 1 1915
1st mortgage
6 M-N
1895
Interest at Chicago office.
Tho'lst mtge. was for $2,000,000 but additional bonds,to be Issued for
extensions, &c. Trustee, Illinois Trust & Savings Bank. V. 86, p. 1159.
Cicero Ec Proviso Street Railway.
Interest. Outstanding. Maturity.
Date,
Consol mtge, $2,500,000, gold1 1895
$2,000,000 May 11015
5 g 5I-N
($1,000)
JInterest at Ill. Trust & Savings Bank,Tusstee.
$500,000 of the bonds were reserved for improvements at not exceeding
75% of cost. V. 86, p. 1159.
Ogden Street Railway.
Interest. Outstahding. Maturity
Date.
$75 ,000 May 11016
1st mortgage ($1,500,000) _ 1896
6 M-N
1Trustee is Illinois Trust & Savings Bank.
The supplemental mortgage, executed Jan. 22 1898, limits the issue of
bonds to $1,500,000. Additional bonds (beyond the $751,000 out) can be
Issued only for 75% of the cost of new construction. V. 86, p. 1160.
Evanston Electric.
Interest. Outstanding. Maturity.
Date.
$130,000 Aug 1 1916
6 F-A
Mtge for $1,000,000, currency_ _ _ _
North Side Electric Street Railway.
Interest. Outstanding. Maturity.
Date.
$155,000 Nov 1 1915
6 NI-N
1st mortgage, currency
j 1895
)Trustee ill. Trust & Say. Bank, Chicago.
or the fiscal agency. The mortgage
Interest is payable at Chicago office'
provides for tile issue up to $1,500,000 at not exceeding the cost of construction; further bonds can be issued at 75 % of cost of extensions and
improvements. V. 86, p. 1160.
North Chicago Electric Railway.
Interest. Outstanding. Maturity.
Date.
1st mtge, $1,000,000 ($1,0001 1894
$868,000 Aug 11014
6 F-A
• not subject to call)
)Interest at Illinois Trust (trustee), Chicago.
27
ELECTRIC RAILWAYS
Chicago & North Shore Street Railway.
Interest. Outstanding. Maturity.
Date.
$650,000
See text
Capital stock,6%
6 Q-J
1st mortgage, $1,500,000,1 1894
675.000 April 1 1912
6 g A-0
gold
c*f Subject to call at 105 any April 1 after 1905.
The bonds are guaranteed by endorsement by the North Chicago Electric
Ry., and.the stock is guaranteed 6% per annum by the same company,
which has been paid to date.
Interest is paid in New York by Chase National Bank and in Chicago at
Illinois Trust & Savings Bank, Trustee.
REPORT of Chicago Consolidated Traction for years ending Aug.,31
(V. 85, p. 1003):
1903-04.
1904-05.
1905-06.
1906-07.
Gross earnings
$1,951,270 $1,833,559 $1,605,798 $1,468,631
1,223,182
Operating expenses
1,314,409
1,123,301
1,667,869
Net earnings
Other Income
$283,401
82,452
$519,150
82,881
$482,497
82,152
$245,449
80,342
Total Income
$325,791
$564,649
$365,853
$602,031
ROAD.-The property embraced in the constituent companies consists
of 183.14 miles of single-track electric street railway, located in the City of
Chicago, the township of Cicero and the city of Evanston, all in Cook
County. The lines extend over the entire north, northwest, west and
southwest sections of the City of Chicago,'and connect at their respective
terminal points with the lines of the Chicago Railways Co., over which
passengers are carried originating on the lines of the Consolidated Traction.
and vice versa.
Rails are Johnston-girder, 75 to 85,1bs.: gauge, 4 ft. 81.5 in.
EQUIPMENT -112 box motors and 120 open motors.
OFFICERS.-Pres.,John M. Roach; Asst. Sec., F. E. Smith; Asst. Treas.
H. B. Orde. Transfer and General Offices, 45 Wall St., N. Y., and 444
North Clark St., Chicago.-V. 82. D. 1210; V. 84, p. 1181. 1306; V. 86,
p. 1159, 1284, 1409, 1466, 1528, 1589; V. 87. p. 165, 346, 414.
GENERAL ELECTRIC RAILWAY.
ORGANIZATION.-On Jan. 18 1896 obtained a 20-year franchise for a
system of lines from the Dearborn Station, south on Plymouth and Custom
House Places. and Dearborn Street to 22d Street, connecting at 18th Street
with the Railways Co., at Archer Avenue with the Chicago City By..
and at 22d Street with the Chicago General Ry., and In February 1897
additional franchises were granted, which, together with the first-named.
cover 56 miles of track. Is in operation from Dearborn Station south to
miles of single track. The company has agreed to
22d St., embracing 2
pay the city 5% of gross for second five years of franchise, 7% % for third
five years and 10% for last five years.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS.
$5,000,000
Stock $5,000,000
5 g A-0 abt. 500,000 Oct. 1916.
j 1896
First mortgage gold
Interest at Morton Trust Co., New York.
Mortgage authorizes a first issue of $3,000,000, then $2,000,000 for extensions, and additional amounts at 85 % of cost of still further extensions
and improvements. Trustees, Chicago Title & Trust Co. of Chicago and
State Trust Co. (now Morton Trust) of New York.
OFFICERS.-Pres., Cecil Page; Sec. and Treas., Jos. D. Goodman,
Chicago. Office, 356 Dearborn Street, Chicago.-V.66, P. 1188.
CHICAGO 6: OAK PARK ELEVATED RV
ORGANIZATION.-This company was incorporated in New Jersey on
April 22 1904 to hold the securities of the Chicago & Oak Park Elevated
Railroad Co. formerly the old Lake Street Elevated RR., reorganized per
plan in V. 77% p. 1874; V. 78, p. 1392. Besides $9,149,642 stock and $8640.
100 income bonds, also holds $1,608,500 notes of the Chicago & Oak Park
Elevated Railroad Co. issued by that company for loans made to it by the
Railway Co. The old Lake Street $10,000,000 of common stock paid an
assessment of $2 per share,and received $4 in new preferred and $40 in new
common stock for each share of old stock. Income bondholders received
80% in new preferred stock.
STOCK AND BONDSDate.
Interest.' Outstanding. Maturity.
Common, $6,000,000 ($100)$5,65,,100
Pref, $3,200,000,5% n-c.($100)_
3,045,700
5 J-J
Lake St El 1st NI, $5,000,000,1 1893
5,000,000 July 1 1928
'American Trust & Say. Bank, Chicago, and
guar by N W El
1. Central Trust of Illinois, Chic., Trustees.
2
Deb note (C&O P El RR)........ 1904
350,000 Jan 1 1909
715,475
Notes payable Dec 31 190
Bonds.-First mortgage bones assenting to reorganization were stamped
subject to call at 105 and interest on any Interest date. The debenture
note was Issued by the Chic. & Oak Park El. RR.for the claim of the North
Western Elevated RR., amounting to $770,085, and is guaranteed by the
Chic. & Oak Park El. By. The old income bonds, with the exception of
about $140,000, are held in the treasury of the railway company.
ROAD.-Owns a double-track elevated railway from Fifth Avenue and
Lake Street to 52d St. and Lake St., with spur down Market St. to Madison
St. Connects with Suburban RR.for traffic outside the city. V.65,0.236.
Trains began running around the loop in Oct. 1897. Chic. & Harlem forms
an extension comprising 4 miles more of double track. Total single track.
22 miles.
REPORT.-For years ending June 30 for Railroad Co.:
1906.
1907.
$863,637
$869,867
Passenger earnings
23,146
19,376
Other garnngs
Total earnings
Operating expenses
$689,243
527,180
$886,783
505,539
Net earnings
Other income
$362,063
3,326
$381,244
3,772
Total income
Fixed charges
$365,389
429,334
385 016
425,072
def.$63,945 def.$40,055
Balance
OFFICERS.-Pres., Redmond D.Stephens: V.-P., Kenneth K. McLaren;
Sec. and Treas., William V. Griffin, 1117 Merchants' Loan & Trust Bldg.,
Chicago.-V. 84, p. 218, 569, 996; V. 86, p. 337.
LOOP ROAD.--See Union Elevated.
METROPOLITAN WEST SIDE ELEVATED RY.-An electric road.
ORGANIZATION.-OrganIzed in Illinois Jan. 16 1899. Successor on
Feb. 3 1899 (per plan in V. 67, p. 126) to the Railroad Co. sold under foreclosure on Jan. 4 1899. Company in July 1905 refused to accept city ordinance permitting it to carry express matter and milk. V. 81, v. 508.
Franchise expires Apr. 7 1942. Voting trust expired Feb. 1 1904. V. 78,
p • 343.
Interest. Outstand'g. Maturity,&c
Date.
STOCK AND BONDS$7,464,100
Common, $7,500,000
Q-M 30
8.707,900 Sept 30'07,3i
Pref, 5% non-c, $9,000,000___
4 g F-A
10,000,000 Aug 1 1938
1st mtg,$10,000,000 ($1,000){ 1898
c* Cent. Trust Co., N.Y., and G. Sherman, Tr.
gold
Interest at Cent. Trust Co. N.Y. and Chic.
Ext. mortgage, $5,000,000 1901
4 g J-J
4,017.000
'
July 1 1938
($1,000), gold, red. at 105 Northern Trust Co., Chicago, Trustee.
on any interest day on 4 Interest at company's office in Chicago, or
c*
Central Trust Co.. New York.
weeks' notice
400,000
See text
Col gold bonds ($1,000).1 1906 • 5 g A-0
See rt.marks
Int. at Merch. Loan&Tr. Co., Chic., Trustee.
The extension mortgage o 1901 covers the extension as a first lien.
also 68 cars, a 3,500 H. P. engine and the new down-town terminal; the
bonds also cover the rest of the property as a second lien, subject to the
$10.000,000 first mtge. V. 72, p, 1080; V. 75, p. 29: V. 86, D. 1160.
The collateral bonds of 1906 are Vayable serially,$50,000 each six months,
from April 1 1907 to Oct. 1 1912; total issue was $600,000, but $50,000.
matured April 1 1907,$50,000 Oct. 1 1907,$50,000 April 1 1908 and $50,000
Oct. 1 1908. They are secured by a deposit of first mtge. extension bonds
at the rate of $75,000 bonds for each $50.000 of present Issue. Theyfare
V.84,p. 1114.
redeemable on any Int. day on 30 days' notice at 101 and
Has guaranteed $407,000 bonds of Union Consolidated Elevated.
The fiscal year was changed In 1906 to end Dec. 31 Instead of Feb. 28.
1907 report will be found in V.86.0. 418. Figures below cover the:calendar
years 1907, 1906 and 1905.
id!
28
ELECTRIC RAILWAYS
1907.
54,280,888
$2,778,597
99,991
1906.
49,771,812
$2,545,136
92,766
[VOL. Lxxxvn.
1905.
In 1905, 4%. In 1906, 4 %. In 1907, 4 %. In 1908, March,
%; none
45,358,843 since.
ANNUAL REPORT.-For years ending Dec. 31 1907, report in V.
$2,312,4'18
89,864 86, p. 334. Passengers carried in 1007, 40,438,620.
1907.
1906.
1907.
1906.
Gross earnings
$2,878,588 $2,637,902 $2,402,052 Gross receipts $2,105,193 $1,788.975 1 Surplus
$439,508 $547,956
Operating expenses
1,443,499
581,806 Dividends
1,290,359 . 1,159,192 Net, aft. taxes 645,447
409,187 409,177
Interest
*205,939
33,750 Balance for year- _ 30,321 138,779
Net earnings
$1,435,089 $1,347,543 $1,242,860
*Includes $9,064 rental paid to Chicago Junctinn By.
Other income
6,820
16,665
ROAD.-Owns elevated roaa in operation in Chicago upon a purchased
11,450
right of way from Congress St.to Jackson Park,14.16 miles of double and
.Total
$1,441,909 $1,364,208 $1,254,310 single track; total single track, 37.60 miles. Electricity was introduced
Deductas motive power late in April 1898. Operates 370 motor and 30 trail cars.
Rentals
$299,044
$270,361
$263,952 The extension to Englewood and the Lake Ave. extension are nuw both
Taxes, &c
176,390
158,128
124,644 being operated. Also leases Chicago Junction RR., which see below.
Interest
574,690
556,449
548,354
OFFICERS.-Pres. and Gen. Mgr., Charles Valentine Weston; V.-P.,
Noble B. Judah; Sec. and Treas., Horace F. Hardy. Office, 47 Congress
Balance
sur.$691,785 sur.$379,270 sur.$317,360 St., Chicago.-V. 82, p. 278. 1041; V. 84, p. 159, 272, 336, 932; V. 85,
DIVIDENDS.-First dividend on pref. stock, 23% %, Feb. 28 1900 (out p. 1519; V. 88, p. 109, 286, 334, 338, 604, 1468.
of earnings for year ending Feb. 28 1900); then 2% Aug. 31 1900; 1 %
Feb. 1901: Aug. 31 1901, 2%; Feb. 28 1902, 1 %; Aug. 301902, 13%%;
(1) Chicago Junction RR.
Feb. 28 1903, 13% %; in 1907, March 30,
%; June 29,
ORGANIZATION.-Organized lathe interest of the South Side Elevated
%; Sept. 30,
%; the Dec. payment was omitted. None since to Sept. 1908.
RR. to build lines to connect that company's track with the Stock Yards.
ROAD.-From terminal station at 5th Ave. westerly about 64 miles, Only a nominal amount of stock has been issued ($50,000), which is held in
with branches; total length of road (including Douglas Park branch and trust for the South Side Elevated in case that company should at any time
extension and Garfield Park branch), 18.49 miles; the first 1.67 miles are wish to absorb it. Is leased to the South Side Elevated for 50 years (with
four tracks, the rest two tracks, making single-track miles 40.14; also leases right to purchase at cost within 20 years), rental being interest on bonds,
the Union Elevated, 0.38 mile, the Union Consolidated Elevated RR., 4 taxes, &c. Franchises are without limit.
miles, and leases 3.3 miles from Aurora Elgin & Chicago RR., making total
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
operated 49.13 miles of track. Right of way is owned in fee. Equipment Stock
See text.
Jan. 1 1908 consisted of 225 motor cars, 183 coaches and 79 control-coaches 1st mtge, $2,327,000, gold) 1905
4 g M-S
$2,327,000 Mch 1 1945
($1,000), guar p & 1____c*JFirst Trust 63 Say. Bank, Chicago, Trustee.
and 17 miscellaneous. Gauge, 4 ft. 8
in.
Bonds.-Are subject to call on and after March 1 1910 at 105 and interest.
On March 11 1905 the cars of the Aurora Elgin & Chicago By. began
operating over this company's lines to the 5th Ave. terminal under a traffic In event of consolidation with South Side Elevated, this issue of bonds is
agreement, the Met. West Side, in turn, securing the right to the territory to be retired. V.80,D. 871. Bonds are guaranteed, principal and interest
west of the 52d Ave. terminal on the Garfield Park line as far as the Des by Chic. June. Rys. ec Union Stock Yards Co. See V. 82, p. 568. They
Plaines River, about 3.3 miles double track. V. 79, p. 1704.
were offered for sale by N. W. Harris & Co., N. Y., and Harris Trust &
OFFICERS.-Pres., Howard G. Hetzler; V.-P., Chas H. Reaua; Sec. Savings Bank, Chicago.
ROAD.-Consists of an elevated road (from junction with South Side
and Tress., Paul D. Sexton; Asst. Sec. and Asst. Treas., W. F. Holtz;
Auditor,T. B. MacRae; Gen. Mgr., B.I. Budd. Office, 169 Jackson Boule- "L" at 40th Street) to the Stock Yards,and a loop around the same, 3.75
miles. Was completed in May 1908.
vard, Chicago.-V.85, p. 1646; V. 86, p. 52, 108, 337, 418, 982, 1160.
OFFICERS.-Pres.. John A. Spoor; V.-P., Richard Fitzgerald; Sec.,
NORTHWESTERN ELEVATED RR.
James Miles; Treas. R. B. Thompson; Aud., C. C. Chace.-V.82, p. 568;
ORGANIZATION.-Road was formally opened for business on May 31 V. 85, p. 792; V. 87% p. 346. .
1900. V. 70, p. 1049.
In Sept. 1901 the Union Elevated RR. was acquired. The new mortgage
SUBURBAN RAILROAD.-A trolley road.
for $25.000,000 was authorized for this purpose and for refunding the 5%
ORGANIZATION.-Incorporated under laws of Illinois May 1895,
bonds.
RECEIVER.
-On July 30 1902 L. S. Owsley was appointed receiver,
An additional $3,000,000 of these bonds was issued in Aug. 1906 to provide for the Ravenswood extension,'and authorized amount of preferred interest on bonds being in default. V. 75, p. 241.
stock was increased to $25,000,000 to provide for convertible feature of
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
new bonds. See V. 83, p. 436.
$1,250,000
Stock, $1,250,000
_
1st
1,250.000 Mch 2 1916
mortgage,
g M-S
$3,000,000,1
5
1896
STOCK AND BONDS- Date.
Interest Outstanding.
Maturity.
gold
JChicago Title & Trust Co., Trustee.
Stock, $5,000,000
$5,000,000
110f
the
$3,000,000
$1,250,000
were issued to build
authorized,
bonds
Pref stock, 5%,$25,000,000_ _
non-cum.
5,000.000
First refunding mortgage,) 1901
4 g M-S
15,016,000 Sept 1 1911 the road owned and to equip a portion of the leased lines with trolley.
$25,000,000, cony, gold }Interest at Illinois Trust 63 Savings Bank, The remainder may be issued for extensions built and equipped at $50,000
per mile for double and $30,000 per mile of single track.
($1,000, $5,000, $10,000)4 Chicago, Trustee, or Blair & Co., N. Y.
ROAD.-Owns 29.8 miles of track, extending from terminus of Chic.&
Bands.-01 the new $25,000,000 mtge., present issue is $18,000,000, of
Oak Park Elev. at 52d St. and Metropolitan Elev. at 48th St., through city
which $2,984,000 remains in the treasury available for improvements, &c.
of
Chicago, Cicero, Grossdale, La Grange, &c. Leases from the Chicago
The new bonds are convertible at the option of the holder into preferred
Transfer RR. (for 50 years) the Chicago 63 Southwestern road to
stock, and can be redeemed at any time at the option of the company at Terminal
Harlem race track, Austin, Ridgeland, Oak Park, &c., 10 miles of track.
1023% and accrued interest on or after Sept. 1 1906. If called for redemp- Also
operates
of a mile of double track of the Chicago Riverside 63 La
tion, the holder will have the right even then to take preferred stock in Grange RR. Total
track operated, 32.3 miles, all trolley, except C. & S.W.
lieu of cash. V. 72, p. 1081.
along West 16th and 19th streets.
Voting Trust.-Both the common and preferred stocks have been depos- tracks
OFFICERS.-Pres.. F. H. Roeschlaub; V.-P,• W. G. Adams; Sec. and
ited with the Illinois Trust & Savings Bank, depositary, under voting trust Treas.,
G.
M.
Maher; Supt., J. Whitsell.-V. 75, p. 241.
agreement, vesting control of the company in the hands of the voting trusttees, consisting of John J. Mitchell, Marshall Field and James A. Blair,
UNION CONSOLIDATED ELEVATED RY
until March 1 1906, or until dividends shall have been paid for three consecuORGANIZATION.-Formed in 1895 and built from Union Elevated at
tive years on such stock.
REPORT.-For years ending June 30 (Including Union Elevated) see Sth Ave. west to Market St.; thence to the Metropolitan W. S. El.; total,
1-5 mile of track; is operated.by the Metropolitan West Side El. Franchise
V. 85, p. 789.
Year-Gross.N t.
expires Oct. 7 1945.
Charges.
$2,463,88
$1,498,070
$1 147 183
1908
$350,88i
STOCK AND BONDS- Date.
Interest, Outstanding. Maturity.
1,355,012
2.100,316
1907
1,008,434
347,578 Stock
$1,000,000
1,948,727
1,243,154
1906
962,656
280,498 Series "A" 1st mtge, gold
1896
5
g M-N
407,000 Nov 1 1936
1,786,414
1,169,786
1905
952,627
217,159
gu p & I by Met W S El_
G. Sherman, V.-P., Cen. Tr. Co.. N. Y.,Trus.
Mortgage
$1,000,000,
starts
the
of
Intersection
-The
at
road
which $500,000 series "A." V. 83, p. 1065.
ROAD.
of Wilson and Evanston
avenues, 7 miles from the Court House, and has 5.52 miles of four-track,
Wm. G. Adams; V.-P., Clarence A. Knight; Sec.
OFFICERS.-Pres.'
Treas.. W. V. Griffin.
making 28 miles of single track. Right of way is all owned in fee except at and
street crossings. An extension of 34 miles of double track to Ravenswood
was put in operation in May 1907.
CHI00, CAL.
Under an operating agreement with the Chicago Milwaukee & St. Paul
Railway Co. made in 1907,this company's service was extended May 16
NORTHERN ELECTRIC RY
1908 to Evanston over the Evanston Division of the former road, which
ORGANIZATION.-Incorporated in California Sept. 19 1907 and achas been electrified.
quired the entire properties of the Northern Electric Company and Shasta
OFFICERS.-Pres., Mason B. Starring; V.-P., Clarence Buckingham; Southern Ry. Co. The Northern Electric Company was incorporated in
Sec. and Treas., W. V. Griffin. Directors-Clarence Buckingham, J. L. Nevada and has a contract with California Gas & Electric Corp. allowing.
Cochran, W. V. Griffin, Chauncey Keep, Charles F. Ayer, Mason B. Starr- Its cars to enter Sacramento. In 1906 Northern Electric Co. franchises
ing, W. W. Miller. John B. Dennis, of Blair & Co., and Samuel McRoberts. were said to be for not less than 50 years.
V. 84, p. 571, 804, 1248; V. 85, p.723, 789; V. 86, p. 421.
STOCK AND BONDSDate.
Interest. Outstanding. Mciturity.
(1) Union Elevated Railroad.
Common $15,000,000 ($100)
(?)
Is used by all the Chicago elevated roads, and receives 34 % for each Pref$10,000,000 ($100)5% n-c
$5,000,000
Northern Elec Co M $6,000,-1 1905
5 g A-0
passenger carried, besides all expenses for operating, repairs and taxes.
3,787,000 Oct 1 1955
000 g ($1,000) sink fund__ f Int. at Mercantile Tr, Co., San Fran.,Trustee
Interest. Outstanding. Maturity. Northern
Date.
BONDSElec By 1st & consi 1907
5 g J-D
Dec 1 1947
(?)
5 g A-0
1st mtge,$5,000,000,g($1,000) 1895
$4,666,000 Oct 1 1945
mtge $25,000,000 gold.... _ _ Int. at Mercantile Tr, Co., San Fran., trustee
Interest at Chase Nat. Bank, N. Y., and Ill. Trust 63 Say. Bank, Chicago.
Bonds.-01 the Northern Electric By. bonds $3,787,000 are reserved to
Bonds.-Of the $4,666,000 bonds issued, $184,000 are in the treasury. retire
a like amount of Northern Electric Co.'s 5s. They are subject to call
ROAD.-The loop is 1.98 miles in length, double tracked (80-1b. rails),
days' notice at 110. Sinking fund 1918 to 1927 % of Issued bonds
and runs on Lake St. to Wabash Ave., to Van Buren St., to Fifth Ave., to on 60
Lake St. Road opened Oct. 10 1897. Trains of the Chicago & Oak Park per annum; 1928 to 1937,1%; 1938 to 1947.134%. Northern Electric Co.
bonds can be called on April 1 1914 or any Int. date thereafter at 110;
Metropolitan West Side, Northwestern Elevated RR. and South Side $1,884,000
of the $3,787,000 reported outstanding are in possession of
operate over the loop.
Northern Electric Railway.
EARNINGS.-For calendar year 1907 (December estimated), gross,
SOUTHERN STREET RY. CO.-A trolley road.
$442,859; net, $131,528. Above figures cover only part of system, as
ORGANIZATION.-Incorporated in Illinois as a reorganization of the Sacramento division was not completed until
Dec. 1907.
Chicago General By., which was bid in at foreclosure sale on Sept. 30 1907
ROAD.-Operates 136 miles of track between Chico, Oroville, Yuba
by the Southern Street Railway Co. V. 85, p. 863.
City, Marysville and Sacramento, with a branch from Marysville to Colusa
Interest. Outstanding. Maturity. and from Chico to Hamilton. When financial conditions improve. It Is
STOCK AND BONDS--L
Date.
Stock, $800,000 ($100)_
$800,000
Intended to construct some 200 miles more of track. Standard gauge,
New mtge, $800,000 ($50,) 1904
5 g J-J
800,000 July 1 1919 60-lb. T rail.
$100, $500 .33 $1,000), g_e*JInt. at Amer. Tr. 63 Sav. Bk., Chic., Trustee.
OFFICERS.-Pres., Henry A. Butters; Sec. and Treas., Norman Logan'
Bonds.-11Pncis are subject to call on or after July I 1909 at 105 and Int.
ROAD.-Owns 21 miles of track; extends from Wabash Ave. to 40th V. 88, p. 865; V,86, p. 169.
Ave. on 22d St., also on 25th St., Lawndale Ave. Kedzie Ave., Homan
Ave. and Throop St. Operates 20 cars.
CINCINNATI, OHIO.
OFFICERS.-Pres. and Gen. Supt., James C. Cleary, 1608 W. 22d St.,
CINCINNATI & COLUMBUS TRACTION CO.-A trolley road
Chicago; Sec. and Treas.. Allen R. Smart; Gen. Mgr. and Counsel, Glenn
E. Plumb, 1239 First National Bank Bldg., Chicago.-V. 85, p.
ORGANIZATION.-Incorporated on Jan. 21 1903. Franchises expire
723.r
1930.
SOUTH SIDE ELEVATED RR.-("Alley Elevated")-An electric ele- InSTOCK AND BONDS- Date. Interest. Outstanding. Maturity.
vated road.
Common,$1,250,000 ($100)
$979,500
ORGANIZATION.-Successor January 1897 to Chicago 66 South Side pt. 5%cum.$1,250,000 ($100)
925,500
-R.T. RR.(foreclosed per plan V. 63, p. 1158). July 31 1900 the Appellate First mortgage. $600,000,
600,000 July 1 190)
1 1905
5 g J-J
Court sustained the validity of the foreclosure (V. 71, p. 236), and on Feb.
gold
clint. at Union Say. Bk. & Tr. Co. Cm.. Trus.
21 1902 that decision was concurred in by the State Supreme Court. V. 74. Second mtge notes $250,000.
$80,000 July 1 1912
5%
477. Franchise expires March 26 1938. Leases the Chicago Junction
Int. at Union Say. Bk. & Tr. Co., Cincinnati.
which see below.
RR.,
p.
Bonds.-The denomination of the first mortgage bonds are respectively:
Stockholders voted on April 7 1004 to Increase the capital stock to $17,- 6 $50,000; 30 $5,000; 100 $1,000; and 100 $500. They can be called at
550,500, to provide for extensions, but subsequently (V. 79, p. 681) re- any time at par. Second mtge. notes can be called at any time.
scinded the action and made the new witge. given in table below. V. 79.
ROAD.-Operates 54 miles of track between Cincinnati and Hillsboro
p. 734; V. 84, p. 159, 932.
Interest. Outstanding. Maturity. put in complete operation in Feb., 1906. Standard gauge, 70-1b. T rail.
STOCK AND BONDS- Date.
OFFICERS.-Pres., H. H. Hoffman: V.-P., Lewis Seasongood; 2d V.-P.,
Stock, $10.323,800
$10 231.400 Mar31'.8
(;)1st mortgage, $8,000,000, gl 1904
43% g J-J
8,000,000 Dec 31 1924 Henry Burkhold: Sec., Harvey J. Gibson; Treas., Casper H. Rowe; Mgr.,
c*JInt. at Ill. Tr. .33 Say. Bank, Chic., Trustee. Dan Iteld_l Jr.-V.76, p. 071; V. 80. p. 1234; V. 85, p. 220, 599.
($1,000)
Bonds.-The new bonds are subject to call on or after Jan. 1 1910 at 105
and interest.
CINCINNATI GEORGETOWN & PORTSMOUTH RR.-Steam and
Dividends -First dividend of 1 %(out of earnings for four months ending electric.
April 30 1899) was paid May 1 1899: then Sept. 1, 1 %; Dec. 30, 1 %. In
In Aug. 1908 it was reported that negotiations were pending for sale
1900, 3%. In 1901, 33% %. In 1902, 4%. In 1903, 4%. In 1904, 4%. of road by the executors of
the Comstock estate. V.87, p. 643.
Passengers carried
Passenger earnings
Miscellaneous earnings
I
SEPT., 1908.]
ELECTRIC RAILWAYS
ORGANIZATION.—Formerly a narrow-gauge steam road, but in Oct.
1901, was purchased by A. W. Comstock of Detroit, and In 1902 changed
to standard-gauge. Now operates by both electricity and steam. Under
Ohio law remains a steam road. Franchises perpetual.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS—
$1,500,000
_
Stock, $1,500,000
1,000,000 Jan. 1 1932
5 g J-J
1st mtge., $1,000,000 gold' 1902
Tr.,Cin.,Tr.,& in N.Y
Say.Bk.&
Union
c*JInt.at
($1,000)
EARNINGS.—For year ending June 30 1908 gross, $164,493; in 190607, gross, $153,616.
ROAD.—Operates 4) miles from Cincinnati southeasterly to Russellville. including branches of 3.5 m. to Batavia and 1.5 m. to Coney Island.
An extension of 16 miles to West Union is under construction. The
Felicity & Bethel, which is controlled in the same interest, operates 8.5 m.
of track between the points named in its title. Has 22 electric passenger
coaches, 4 steam passenger coaches, 40 freight cars and 2 locomotives.
OFFICERS.—Pres., Henry A. Haigh; Sec. and Gen. Mgr., E. W. White.
—V.75, p. 184, 665, 1253; V.83, p.322: V:87, p. 543.
FELICITY & BETHEL RR.
ORGANIZATION.—Incorporated in Ohio in 1904, and is owned in the
Interest of the Cincinnati Georgetown & Portsmouth.
Interest. Outstanding. Maturity.
STOCKS AND BONDS— Date.
$150.000
Stock, $165,000 ($100)
100,000 Oct. 1 1935
5 g A-0
1st mortgage, $100,000, g.1 1905
c*jInt. at Union Say. Bk. & Tr., Cincin., Trust.
($1,000)
Bonds.—Are not subject to call.
ROAD.—Operates 8 miles of track between Felicity and Bethel,standard gauge, 60-lb. T rails. Is operated by electricity for passengers and by
steam for freight.
OFFICERS.—Pres., Henry A. Haigh; Sec., J. C. Ginnings. Treas.
and Gen. Mgr., E. W. White.
CINCINNATI LAURENCEBURG & AURORA ELECTRIC STREET RR.
•
—A trolley road.
ORGANIZATION.—Incorporated in Nov., 1898. The Union Savings
Bank & Trust Co. of Cincinnati sold $750,000 of the bonds in Jan. 1901,
and an advertisement stated that no dividends would be declared on the
stock for five years, so as to create a surplus fund available for betterments
and extensions. See V. 72, p. 136. In May 1904 capital stock was increased from $750,000 to $1,000,000 by the issuance of $250,000 6% cumulative pref. stock, the proceeds being used for betterments. Franchises
expire in 1924 and 1925.
Interest. Qutstanding. Maturity.
Date.
STOCK AND BONDS—
$750,000
Common,$750,000
250,000 July,'06,134
Q-J
Pref. 6% cum., $250,000__-_ - 750,000 July 1 1919
J-J
g
5
1899
$750,0001
mortgage,
let
jInterest at Un. Say. Bk. & Tr. Co., Cin., Tr.
($1,000,) gold
Dividends.—Dividends of 6% on pref. stock were paid up to and including
July 1006. None since.
EARNINGS.—For calendar year 1907, gross, $138,116: net, $59,097:
In 1906, gross, $153,703.
ROAD.—Operates 38 miles of track from Anderson's Ferry, at Cincinnati to Aurora, Harrison and Laurenceburg.
DIRECTORS.—J. C. Hooven, Pres. of Hamilton, 0., C. E. Hooven,
A. B. Vorhels, J. G. Schmidiapp and Stanley Shafer; Treas. and Gen. Mgr.,
C. E. Hooven, Cincinnati.—V. 78, p. 2011, 2383
CINCINNATI MILFORD & LOVELAND TRACTION CO.
ORGANIZATION.—Incorporated in Ohio in Sept., 1902, and purchased
franchises and rights of the Cincinnati Milford & Eastern Traction Co.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS—
$1,000,000
Corn.. $1,000,000 ($100).....
649,425 No div. yet
Pref., $650,000, 5% cum_
373,500 July 1 1925
5 g J-J
1st mortgage, $500,000, gl 1905
c*f Int. at Prov. Say. Bk. & Tr. Co., Cin. Trust.
($500)
at
time
110.
V. 81, p. 264.
See
any
at
call
Bonds.—Are subject to
ROAD.—Will operate 41 miles of track from Cincinnati to Loveland and
from Cincinnati to Blanchester. Gauge, 5 ft. 2 in.; 70-1b. rails. The line
to Milford and Blanchester, 38 miles, is now in operation. Enters Cincinnati over the tracks of the Cincinnati Traction Co.
OFFICERS.—Pres., B. H. Kroger; V.-P., J. P.Peurrung; Sec., J. Nevin
Roberts; Treas., J. P.Peurrung.—V.77, p. 250; V.80. p. 2343; V.81, p.264.
INTERURBAN RY.& TERMINAL CO.—A trolley road.
ORGAN IZATION.—Incorporated in Ohio on Nov. 3 1902, and is a consolidation of the Cincinnati dc Eastern Electric Ry., the Rapid Railway Co.
and the Suburban Traction Co. In Aug. 1906 the Cincinnati & Eastern
Division was leased to the newly-formed Union Gas & Electric Co. V. 83,
p. 562. In July 1907 obtained authority to issue $1,100,000 preferred
stock, of which $900,000 was in exchange for an equal amount of first mortgage bonds dated 1903. V.85, p. 221, 469. The 1903 bond Issue has been
entirely canceled. In 1908 a new mtge. made as below.
Interest. Outstanding. Maturity
Date.
STOCK AND BONDS—
$2,500,000
Common, $2,500,000 (8100)900,000
Preferred,$1,100,000,5 10,_
123,500
1928
First mortgage, $1,650,000,1 1908 ' 5 J-J
f Cincinnati Trust Co., Trustee.
gold
Cincinnati
and
RichNew
ROAD.—Comprises 22 miles of track between
mond, 33 miles between Cincinnati and Lebanon and 28 miles from Cincinnati to Bethel. The latter section was leased in Aug. 1906 to the Union
Gas & Electric Co. of Cincinnati, but lease canceled Aug. 31 1907. Gauge,
5 ft. 234 in. Also owns terminal station on Sycamore St., Cincinnati.
Cars enter Cincinnati over the tracks of the Cincinnati Traction Co. 70-lb.
and 97-1b. T rail. Total track, 101.4 miles, all operated.
OFFICERS.—Pres., Chas. H. Davis; V.-P., Lee H. Brooks; Sec. and
Treas., J. M. Hutton.—V. 82, p. 562; V. 84, p. 450; V. 85, p. 221, 489;
V 86,p. 285.
OHIO TRACTION CO.—
This is one of the properties controlled by the Schoepf-McGowan syndicate.
ORGANIZATION.—Incorporated in Ohio on May 22 1905, and owns
practically the entire capital stock of the Cincinnati Traction Co., the Cincinnati Zoological Co. and the Cincinnati Car Co., besides extensive holdings
in the Cincinnati & Hamilton Traction, and a large interest In the corn. and
preferred stock of the Cincinnati Dayton & Toledo Traction Co. On July 6
1905 lease of the On. & Hamilton Tract Co. was assigned to this company
by the Cin. Interurban Co. and the latter company placed in liquidation.
This company also acquired the property of the Traction Building Co.,
which went Into liquidation.
Last Div.
Interest. Outstanding.
Date.
STOCK—
$7,500,000
Common, $10,000,000 0100)8,500,000 Aug'08,1 M %
Q-F
Pref., $10,000,000 5% cum
Stock.—Further issues of stock can only be made for acquirement of
other properties and additions to the present properties.
Dividends—First dividend on pref. stock-1 4 %—was paid Aug. 1
1905; in 1906, 5%; in 1907, 5%; in 1908, Fel., 134 %; May, 134%; Aug.,
13( %.
EARNINGS.—Pres. W. Kesley Schoepf in a letter to Irwin, Baliman &
Co. of Cincinnati, who offered some of the pref. stock in May 1905 stated
that the actual net earnings of the combined properties for year ending
Dec. 31 1904 had been $540,238.
OFFICERS.—Pres., W. Kesley Schoepf; let V.-P. C. P. Taft; 2d V.-P.,
J. B. Forakcr Jr.; 3d V.-P. and Gen. Mgr., Dana Stevens; Sec., Walter A.
Draper; Comp., W. H. MacAlister; Treas., A. L. Kasemeier.
DIRECTORS.—P. A. B. Widener, Hugh J. McGowan, W. Kesley
Schoepf, Briggs S. Cunningham, John Kligour, Chas. P. Taft, Wm. S.
Rowe, Louis J. Hauck Wm. Cooper Proctor, HarryM. Levy, Wm. T.
Irwin, Thomas Dolan, Julius Fleischmann, Randal Morgan and Clifford B.
Wright.—V. 84, p. 669.
(1) The Cincinnati Traction Co.—
ORGANIZATION.—Incorporated in Ohio on Feb. 19 1901 with an
authorized capital stock of 32,000,000 (which, all except 11 shares, Is
owned by the Ohio Traction Co.). to take over under lease the Cincinnati
Street Ry.•Co. See V. 72, p. 391.
REPORT.—For 12 months ending Dec. 31 1907, gross, $4,459,223,
against $4,297,016 In 1906 and $4,013,407 In 1905. For calendar year 1904
gross earnings were $3,770,022; In 1903,$3,697,962; in 1902,$ 3,559,685.
ROAD.—The Chin. St. Rwy. comprises 219.88 miles of track in the city
of Cincinnati, Ohio, extending also to adjoining suburbs. The last cable
line was converted to electricity in June 1902, Gauge, 5 ft— 234 in.
OFFICERS.—Pres.. W. Kesley Schoepf; Chairman Executive Com.,
W. Kesley Schoepf; V.-P.. J. B. Foraker Jr.; V.-P. and Gen. Mgr.. Dana
Stevens; Sec., Walter A. Draper; Comp., W.H. MacAllister; Treas., A. L.
Kasemeier; Aud.,C. F. Callaway; Asst. Gen. Mgr., T. Fitzgerald Jr.; Gen
Supt., R. E. Lee; Chief Eng., Thos, Elliott; Pur. Agt., C. Burckmyer.
(a) Cincinnati Street Rallway.—Electric.
Was leased on Feb. 21 1901 to the Cincinnati Traction Co. for the unexpired term of the franchise granted by the City of Cincinnati on Aug. 13
1896, and all successive renewals and extensions of the same. The rental
is intended to provide dividends of 534 % for the first year, 534 for the
second, 534 for the third and 6% for the fourth year and thereafter. V. 72,
p. 136. The Rogers law of April 22 1896, under which franchises were,
granted, was in Aug. 1902 declared unconstitutional by the Superior Court
at Cincinnati, but decision partly revised on rehearing. Appeal taken tt,
State Supreme Court (V. 75, p. 393, 665), and that Court on Feb. 28 1905
reversed the lower court and upheld the constitutionality of the Rogers law.
V. 80, p. 996. On April 28 1903, the Superior Court at Cincinnati declared
unconstitutional the curative Act passed in 1902 to strengthen the franchise
granted under the Rogers law. This case was appealed to the State Supreme Court, which upheld the constitutionality of the law. Franchises.
It is claimed by company, mature April 22 1946.
ORGANIZATION.—Incorporated June 21 1880, and in 1896 purchased
Mt. Adams & Eden Park and Mt. Auburn roads.
Par.
Interest. Outstanding. Last div.,ctc.
STOCK AND BONDS—
6 Q-J
50
$18,511,950 See text.
Stock $20,000,000
OFFICERS.—Pres.. John Kilgour; Sec. and Treas.. James A. Collins.—
1551.
p.
84,
V.
V.
1523;
p.
452;
83,
p.
V. 82,
(2) Cincinnati & Hamilton Traction.—A trolley road.
ORGANIZATION.—This company was organized in Aug. 1902 as a
consolidation of the Mill Creek Valley Street Ry. and the Hamilton Glendale
& Cincinnati Traction. V.75. p. 497. On Sept. 30 1902 was leased to the
Cincinnati Interurban Co. (V. 75, p. 906), but on July 6 1905 lease was
assigned to the Ohio Traction Co., and the Cincinnati Interurban Co. placed
In liquidation. Rental, year beginning Oct. 1 1902-03, $55,000; 1903-04.
$60,500; 1904-05, $66,000; 1905-06, $71,500; 1906-07 and 1907-08.
$77,000; 1908-09 and 1909-10, $82,500; 1910-11, $88,000; 1911-12.
$93,500; 1912-13 to 1914-15. $99,000; thereafter, $100,000. •
Date.
Interest. Outstanding. Last Div.
STOCK AND BONDS—
$1,100,00o Oc.'08,34%
-Q-J
Stock com 11,100,000 (1100)- .
1,100,000 Uc.; '08, 134•
Stock preferred $1,100,0001
($100) 5% cumulative____I
Dividends.-5% per annum is being paid on the preferred stock. The
first dividend on the common of 34 % was paid Jan. 1 1904 and 34 % was
again paid on April 1, July 1 and Oct. 1 1904. In 1905, 1 %; in 1906.
134%; in 1907. 2%; in 1908, 2%.
ROAD.—Owns and operates 31..32 miles of track from the "Zoo" in Cincinnati to Hamilton and 15 miles from Cincinnati to Lockland. Gauge.
5 ft. 234 inches. Operates over tracks of Cincinnati Traction Co. from
"Zoo" to Fountain Square in Cincinnati.
OFFICERS.—Pres., H. H. Hoffman: V.-P.. B. L. Kilgour; Sec. and
Treas., A. J. Becht. all of Cincinnati. V. 75, p. 290, 497, 906.
CLEVELAND, OHIO.
MUNICIPAL TRACTION CO.—
ORGANIZATION.—Organized in 1906 with $10,000 (par $100) capital
stock, which is all owned by directors and officers of company. Formerly
leased and operated the Forest City Ry., but this latter was in 1908 consolidated with the Cleveland Railway Co., which the Municipal Traction now
leases. For terms of latter lease see that company below. The Municipal
Traction undertook to operate lines on a 3-cent fare basis except to suburbs.
where 5 cents is charged, with promise of universal transfers. Under city
ordinance of April 27 1908. however (which was passed the same day the
lease was made), company has right to charge 5-cent cash fare, but must
sell 6 tickets for a quarter: if a smaller fare is charged, company may make
with the consent of thorCity Council, such charge for transfers as shall not
Increase the fare for a ride and transfer in the aggregate above the ticket
rate of fare provided. In case the Municipal Traction fails to carry out the
terms of its lease, the Cleveland Ry. Co. may operate Its own lines on a basis
of 6 tickets for 25 cents until franchise expires, in 1933. The Municipal Traction is said not to be organized for profit, and earnings remaining after naylog operating expenses, taxes and charges under lease must, it Is stated, be
used for Improvements and extensions, the object being to return to the
public all earnings In excess of operating expenses and fixed charges. The
directors are the officers given below and they are also the owners. If a.
director dies or resigns, a majority of the board has an option on his holdings of stock—see V. 86, p. 1134.
On Aug. 13 1908 cash fares (which had been 3 cents, with 1 cent additional
for transfers) were increased to 5 cents, tickets in quantities of not less than
five being sold at 3 cents each. On Sept. 1 1908 cash fares of 3 cents were
resumed, the only condition being that passenger supply exact amount.
V. 87. p. 96, 877.
OFFICERS AND DIRECTORS.—Pres., A. B. du Pont; V.-P., Frederic
C. Howe; Sec., Edward Wlebenson; Treas., Tom L. Johnson; Asst. Sec. and
Treas., C. W. Stage: Second Asst. Treas., William Greif. V. 83. p. 94;
V.86, p. 1101; V. 87.p. 226, 415, 677.
(1) Cleveland Railway Company
ORGANIZATION.—In 1908 (on the settlement of the long-continued
conflict between the city authorities of Cleveland, headed by Mayor Tom L.
Johnson. and the trolley roads of the city) changed name from Cleveland
Electric Railway Co.(which had in 1903 taken over the Cleveland City fly.)
to Cleveland Railway Co., and authorized new stock to the amount of $35,000,000. The old stock of Cleveland Electric Ry. was given a valuation
of $55 per share, or $12,870,000 (the stock having formerly been $23,400,000), which valuation was agreed upon after extended conference, and
which was paid in new stock issued by Oleveland Railway at a par ($100)
valuation. Of the Cleveland Ry. stock there is reserved $1,026,000 to
provide for bonded indebtedness, and $1,288,000 to cover•MAting debt.
The Forest City Ry.(whch had first absorbed the Low Fare Ry.) was purchased for05,600 stock of Cleveland Ry., the shares of the Forest City
ted at their par ($100) value. This accounts for $23,989,600
Ry.being ac
of the $35,000,000 authorized stock, leaving a balance of $11,010,400,4
.0.
which is reserved for extensions and improvements. Franchises which run
until 1933 have been granted on all lines.
Lease to Municipal Traction Co.—Was leased April 27 1908 to Municipal
Traction Co. for 50 years from Dec. 31 1907, with right to successive renewals of 50 years by giving notice 6 months prior to expiration date. The
franchises of the Cleveland Railway Co., which, according to an ordinance
passed Apri 27 1908 by City Council, run for 25 years from that date,
are to be renewed every ten years, and are not permitted at any time to
have less than 15 years of life or the lease is to be forfeited to the Cleveland
By. Co. Dividends of 6% are to be paid quarterly on the first days of
April, July, October and January, on all stock at any time outstanding,
the first payment to be made July 1 1908; also an amount to cover int. on
bonds, all taxes, assessments, license fees, &c. The ordinance of April 27
1908 gives city right to purchase property at termination of street railway
grants (April 27 1933) at a price to be agreed upon by arbitration, should
the city acquire the legal right to buy, the laws of Ohio not at present permitting municipalities to own or operate street railways. Subject to this
option, the lessee has the right to purchase the property at any time for
a sum equal to the oar value plus 10%. payment to be made in one of the
methods described In the lease. V. 86, p. 1099. A special election has
beenIcalled foriOct. 22 19 08 to vote on the franchise. V. 87, p.1677.
Interest, Outstanding. Maturity.
Date.
STOCK AND BONDS—
$14,675,600 Jul 1'08.134
Stock $35,000,000 ($100)
g M-S
6,000,000 Mch 1 1913
5
1893
cons
1st
Ry
Eiec
Clev
mtgel
($1,000) gold, not rethc&rf Int. at Central Trust Co., N. Y., Trustee.
1,000,000 March 1910
5 M-S
East Cleveland RR first mort- 1892
Interest at Central Trust Co., New York.
gage (81,000)
2,026,000 July 1 1909
5 g J-J
Cleveland City Cable Ry goidj 1899
($1,000) first mtge _c&rl Central Trust Co., New York, Trustee.
Dividends.—July 1 1908, 134% was paid.
EARNINGS.—Passenger earnings of Cleveland Electric Ry. only for
cal. year 1907[were, gross, $5,593,806. In 1906, gross, $5,743,587.
CLEVELAND, PAINESVILLE
Farnham°
°
0
0
•
Clark Corners
0!
Bushnell
Sumnerville
Cherryhill
I
1 PLYM
toe"'
I SAYBRO0',,Kl
ig.
Gr_
NEVA. m.uns„
Mechanicsville
21_,../
le
(MADISON rtapler:,_,
Ricer
r----
4%1
Saeg,ersto.„
J'efferson
Lagleville
Thompson
ORD i
Conneautville
IHARPERSFIELI
j
. THOMPSON
o
Trumbull
Moulttai
KIRTLAND
ICKLIFFE
•VVILLOUGH
EUCLID
VTempleo
CHARDO
-
st9.
EUCLID ;
Mulbecr
'ry Corners
MAYFIELD
E.CLEVELAND
e,./6„).1 Chesterland
Claridon
0
Fowlers Mills
A
i
o
E.Claridon
U°G
Fullertown
4:4s7.
EAST
OHIO
TRAC.
South Newl;ur -
Stoneville
AIona,
L--,
Burton Sta.
rii'40..p.
m
13tirton u
Iiagrjij Falls
i,
-,
54c
.
I
i
Atlantic
West Greenwood
sgood
Ainasa
OCT., 1908.1
ELECTRIC RAILWAYS
31
ROAD.-Consists of about 250 miles of track. Mostly 82 and 98-lb. 5 miles. Total track operated (including 4% miles of double), 46M miles.
With the Cleve. Palnesv.& Ashtabula forms a continuous line from Clevegirder rails. 40 miles of new track are to be constructed.
OFFICERS.-Pres., Horace Andrews; Sec. and Treas., H. J. Davies; land to Ashtabula. Rails 68-lb. girder on Main Line, 75-1b. T on Fairport
V.-P's., C. F. Emery,John J. Stanley. V.86,p.602, 1042, 1099, 1223. 1446; Line and 70-1b. T and 90-1b. girder on "Shore Line"; 26 motor cars and 8
other cars. Power-house is at Willoughby. Car-houses at Willoughby.
V.87,p. 226, 877.
Painesville and Nottingham.
CLEVELAND SOUTHWESTERN & COLUMBUS RAILWAY CO -A
REPORT.-For years ending Dec. 31 (1907 report in V. 86, p. 1525):
trolley road.
1904.
1905.
1906.
•
1907.
1903.
ORGANIZATION.-Incorporated in Ohio on March 4 1907 and is a Gross earnings
$271,100 $245,089 $225,751 $214,631
consolidation of the Cleveland & Southwestern Traction Co., the Cleveland Expenses and taxes $296,318
141,270
136,021
143,993
157,197
127,149
Ashland & Mansfield Traction Co. and the Ohio Central Traction Co. For
terms of exchange see V. 83. p. 1590. Also owns the Norwalk Gas &
Net
$89,730
$87,482
$139,121 $127,107 $103,819
Electric Co. In 1907 acquired $505,000 of the $650,000 common stock of Fixed charges
80,830
80,250
78,007
83,939
86,552
the Mansfield Railway, Light & Power Co., In 1907 also some of the stockholders of the Southwestern acquired control of the Mount Vernon city lines,
Surplus
$9,475
$22,989
$43,168
$52,569
$9,480
but no merger contemplated at present. V. 85 D. 283
OFFICERS.-Pres., E. W. Moore; V.-P., J. A. Beidler; Treas., E. V.
Interest. Outstanding. Maturity Hale: Sec.. Fred. S. Dorton;
Date.
STOCK AND BONDSAsst. Sec. and Treas., E. L. Schmock, WilCommon $7,500,000
$3,700,000
loughby, Ohio; Gen. Mgr., J. Jordan.-V.86, p. 33$, 1525, 1529.
2,400,000
Pref *2,500,000 5% cum _____
(1) Cleveland Painesville & Ashtabula RR. A trolley road. Entirely
5 A-0
First general consol mortgage' 1907
326,000 April 1 1927
over private right of way, except through some of the villages, where
$10,000,000($1,000)g c*&r Int. at Cleveland Tr. Co., Cleve., Trustee.
Cleveland & Elyria first mort- 1895
6 M-N
200,000 May 1 1915 franchises expire in 1927.
In June 1906 control was acquired by the Cleveland Painesville & Eastern
gage on 18 miles ($500)}Interest at Citizens' Savings & Trust Co..
RR. V. 82, p. 1322, 1379.
Subject to call May 1 1905_1 Cleveland, Trustee.
Elyria & Oberlin first mort-1 1897
6 F-A
100,000 Aug. 1 1917
ORGANIZATION.-Incorporated in Ohio in 1902.
m
coVA(15010)14cad tInterest at Cleveland Trust Co., Trustee.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
13
eeoci 4
ga
ufll
Stock $1,000,000
__
$1,000,000
Clev er Elyr & Oberlin cons} 1899
5 g M-S
127,000 Mch. 1 1919 First mortgage ($100)
$1,000,0005 1902
850,000 July 1 1922
5 g J-J
M $500,000 g ($1,000 each) Interest at Cleveland Trust Co., Trustee.
gold ($1,000)
c*lInt. at Cleveland Trust Co., Cleve., Trustee.
Subject to call Mch 1 1909_i
Bonds.-$150,000 are reserved for future extensions and improvements.
Cleveland Elyria & Western{ 1900
5 g F-A
1,073,000 Aug. 1 1920 No sinking fund and bonds cannot be called. See V. 75, p. 549.
first mortgage $1,500,000 Int. at Cleve. Tr. Co., Cleve., Trustee, or at
REPORT.-For years ending Dec. 31: '
($1,000) gold
c&r
Nat. Bank of Commerce in N. Y. May be YearsGross,
Net. Fixed Charges. Balance.
called after 10 years at 100.
1907
$122,363
$43,152
$48,613
def. 35,461
Elyria Grafton & Southern 1902
100,000 Jan. 1 1922 1906
5 g J-J
103,095
43.676
41,939
def. 1,737
By first mortgage guar- Interest at Cleveland Trust Co., Cleveland,
ROAD.
-Operates
25
miles
of
track
and
Painesville
between
Ashtabula.
anteed by C E & W ($100,N.
America,
Y..
of
Trust
Co.
Trustee, and
full
Put
in
operation
on
July
30 1904. 70-1b. T and girder rail used. Track.
000 ($1,000) gold
c* Can be called at par on Jan. 11912.
Norwalk Gas 5) Electric first) 1900
110,000 April 1 1920 standard gauge. Connects at Painesville with the Cleveland Painesville &
6 A-0
mortgage $110,000 ($500) g Int. at Guardian S. & Tr. Co., Cleveland. Eastern RR. and at Ashtabula with the Pennsylvania & Ohio Ry.-V. 82.
p.
1322,
1379;
V.
86,
p.
337.
Subject to call April 1 1910
Trustee, or Chase National Bank, N. Y.
Cleveland & Southwestern 1903
1,400,000 Feb. 1 1923
5g F-A
EASTERN OHIO TRACTION CO.-A trolley road.
first and consol mortgage Int. at Guardian Say. & Tr. Co., Cleveland.
FORECLOSURE.-Road was offered for sale in foreclosure proceedings
Trustee, or Trust Co. of America, N. Y.
• $3,000,000 ($1,000) g_ _c&r
Ohio C Trac first mortgage( 1899
150,000 June 1 1919 on June 25 1907 as a whole and In parcels. The sale as a whole was not
5 g J-D
$150,000 ($1,000) gold_ _c*lInt. N. Haven Tr. Co., N. Haven, Conn., Trus. effected; only one division, the Chagrin Falls & Garrettsville, was sold.
Ohio Central Traction consoll-1 1903
250,000 Mch. 1 1923 The latter was bid in In the Interests of the bondholders. The remaining
5 g M-S
dated mortgage $400,000 Int. at Cleve. Tr. Co., Cleveland, Trustee, or two divisions are to be offered for sale a second time. V. 85, p. 40.
(3500) gold
at National Bank of Commerce, N. Y.
c*
RECEIVERSHIP.-The road is now being operated by Robert D. Beatty
Bonds.-Of the $10,000,000 new bonds, $3,510,000 are reserved for prior Receiver. No interest being paid.
liens and $6,290,000 for extensions, improvements, &c. They are subject
ORGANIZATION.-Incorporated in Ohio in Jan. 1902 as a consolidation
to call after 10 years at 105 and accrued interest. The Cleveland & Southwestern bonds of 1903 are subject to call on and after Feb. 1 1913 at 105 of the Cleveland & Eastern By., the Cleveland & Chagrin Falls Electric RR.
and
the Chagrin Falls & Eastern Electric Ry.
and interest. $1,600,000 of this issue are reserved to retire certain underInterest. Outstanding. Maturity.
lying bonds.
Date.
STOCK AND BONDSOf the Cleveland Berea Elyria & Oberlin 5s dated March 1 1899, $300,000 Stock, $2,500,000 ($100)_
$2,259,000
remain in reserve for the retirement at or before maturity of the divisional East Ohio Trac 1st con M,1 1902
900,000 July 1 1922
5 g J-J
8s to a like amount. Of the $1,500,000 Cleveland Elyria & Western new
$2,500,000, g ($1,000)c* dor}Int. at Cleve. Tr, Co., leveland, Trustee.
5s, $427,000 are reserved to retire prior liens. The Ohio Central Traction
J or Standard Trust do., New York.
Cannot be called.
Co. consolidated bonds may be called on or after March 1 1908 upon 30 Cleveland & Eastern 1st) 1899
$1,000,000 July 1 1919
5 g J-J
days' notice at 105 and interest; $150,000 of consols are reserved to retire
mtge. $1,000,000 ($1,000 Int. at Cleveland Tr.. Co., Trustee, Cleve.,
a like amount of first 5s. First mortgage was originally $200,000 authoreach), gold
or Standard Trust Co., New York.
c*
ized, but $50,000 canceled subsequently.
Cleve & Chagrin Falls 1st) 1896
200,000 May I 1916
6 g M-N
mtg, $200,000, g, red after Interest at Guardian Trust Co.. Cleveland,
EARNINGS.-For calendar year 1907, gross, $756,898; net, $316,864;
May 1 1906 ($500)
Trustee.
charges, $205,455; surplus, $111,409.
c*
& Chagrin Falls pew} 1900
5 g M-N
100,000 Nov I 1920
ROAD.-Operates 134 miles of track in and from Cleveland to Berea, Cleve
mtg. $300,000 ($500), g, c Dime Savings & Bank Co., Cleveland
Elyria, Oberlin, Norwalk, Medlna, Wellington, North Amherst, Lorain,
Can
be
called
1910
Trustee.
Creston, Chippewa Lake, Seville, Wooster, Linndale and Puritas Springs;
Bonds.-Of the $2,500,000 1st con. mtg.. $1,300,000 were to take up
also 30 miles from Galion to Bucyrus and from Gallon to Mansfie,d. Is existing bonds and the balance held in
treasury for extensions and conbuilding a line 44 miles long from Seville. on the main line, via Ashland to
Of the Cleve. & Chagrin Falls mtg. of *300,000, *200,000 reMansfield to connect the system; in operation from Ashland to Mansfield; struction.
for prior bonds.
remainder expected to be ready for operation by Nov. 1 1908. Total served
REPORT for calendar year
Gross, $244,360; net (after expenses
track, 208 miles, of which 132 miles are on private right of way; 60 and and betterments), $6,293. No1907:
Interest paid, all earnings being used for
70-1b. rails. Standard gauge. Operates 70 cars. Also does freight betterments.
and express business. Company owns Purltas Springs and Seccaium Park
ROAD.-Owned and operates46 miles of track from Cleveland to Chardon.
and reaches Chippewa Lake. Also owns and operates electric-lighting Burton and Middlefield,
O., and from Cleveland to Hiram and Garretsville
plant in Norwalk.
via Chagrin
40 miles. Total track operated, including sidings,
OFFICERS.-Pres., F. T. Pomeroy; 1st V.-P., A. E. Akins; 2d V.-P., 95 miles.-V.Falls,
82, p. 1101, 1322, 1379; V. 84, p. 1488; V. 85, p. 40.
F. E. Myers; Sec., E. F. Schneider; Treas., J. 0. Wilson; Auditor,
H. B. Cavanaugh; Gen. Man., C. N. Wilcoxon. General office, Cleveland.
LAKE SHORE ELECTRIC RV.-(See Map on Page 32.)
-V. 84, p. 338, 449, 569, 748. 995, 1113; V. 85, p. 283.
ORGANIZATION.-The Lake Shore Electric Ry. was incorporated On
(1) Mansfield Railway, Light & Power Co.-A trolley road.
Sept. 25 1901 under laws of Ohio as a consolidation of the Lorain & CleveIn 1907 control passed to the Clev. Southwestern & Columbus Ry. Co.
land By.,the Sandusky & Interurban Ry.,the Sandusky Norwalk & SouthORGANIZATION.-Successor in April 1903 to the Citizens' Electric ern By. and the Toledo Fremont & Norwalk RR. V. 73, p. 784. C. D.
Railway Light & Power Co., which in turn was successor to the Mansfield Barney & Co. of Philadelphia offered the 1st consols for sale in April 1905,
Electric'
Street Ry. Owns entire street railway and electric light systems and have also been placing the gen. mtg.bonds. About half the road is built
on private right of way; franchises for the remaining half were in 1908
in the city. City franchise runs till 1925.
STOOK AND BONDSInterest. Outstanding. Maturity stated to have an average life of 15 years. Company has traffic agreement
Date.
by which it enters the cities of Cleveland and Toledo over the tracks of the
Common,$650,000 ($100)*650,000
Pref., $350,000 ($100) 6% cum
350,000 1907, 6% local street railway systems.
Controls the Lorain Street RR. and the Sandusky Fremont & Southern
Citizens' first snort. ($400,-j 1901
5
200,000 April 1 1923
000) ($500)
Interest at Cleveland Tr. Co., Cleveland, Tr. Ry., which see below. In 1907 made contract to supply power to the
Findlay & Fostoria and several other roads. V. 85, p. 1646.
Toledo
Mans By Lt & P gen mtge $1,-J 1903
5 g A-0
742,000 April 1 1918
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
000,000,g ($500& $1.000) c• Union Say. Bk. & Tr. Co., Cin., Trustee.
$4,500,000 (par$100)
Common,
$4.500,000
Bonds.-Interest on the new bonds of the Mansfield Railway Light &
3,000,000
Power Co. is payable at Rudolph Kleybolte & Co.'s office, New Yorks, Pref, $3,000,000 ($100),5 cu
5 g J-J
1,750.000 Jan 1 1923
Cincinnati and Chicago. $200.000 of the new bonds are reserved to retire 1st con mtg, $4,000,000( 1903
Citizens'
at
Say.
($1,000),
c*i
& Tr. Co., Cleveland,
Int.
gold
the bonds of the old Citizens Company and $58.000 for future acquisitions
I Trustee, or Trust Co. of America, N. Y.
and improvements. A reserve fund of $10,009 per annum is maintained, to General mtge.
$7,000,0001 1903
5 g F-A
2,161,000 Feb 1 1933
be used for extensions and improvements. Not subject to ('all. See V. 76,
($1,000), gold
cal Int. at Citizens' Say. & Tr. Co., Cleveland.
p. 810.
Trustee, or company's agency in N. Y.
EARNINGS.-For calendar year 1907, gross, $202,798; net, after taxes, Lorain
&
Cleveland
1st,
gf 1897
5 g J-J
750,000 July 1 1927
$84,794; interest on bonds and 6% on pref. stock, $68,100;surplus, $16,694.
($1,000), $1,000,000
{Interest at Cleveland Trust Co., Trustee, or
ROAD.-Owns and operates 9 miles of track In Mansfield and an interI Trust Co. of America, New York.
urban line of 12 miles to Shelby; 60 and 70-1b. T rail. 40 cars.-V. 78. I) T F & N 1st
mtg, $1,500,000,1 1900
5 g J-J
1,500,000 Jan 1 1920
2442; V. 83, p. 1291; V. 85, p. 284.
g, guar ($500, $1,000) _ _c*f Int. at Union Trust Co., Detroit, Trustee.
Bonds.-Of the $4,000,000 first consols, $2,250,000 are reserved to retire
CLEVELAND PAINESVILLE& EASTERN RR.-(See Map on Page 30.)
ORGANIZATION, &c.-Incorporated in Ohio on April 25 1895. Road prior liens, $4,000,000 of the general mtge. 3s are reserved to retire the first
completed in July 1898. Franchises expire In 1920, 1922 and 1926. In consols and $840,000 for extensions and improvements at 80% of cost.
June 1906 acquired control of the Cleveland Painesville & Ashtabula RR. Neither Issue is subject to call. A sinking fund of $10,000 per annum on the
first consols commences Jan. 1 1909 and runs until 1914. From 1920
V. 82. p. 1322, 1379.
ORGANIZATION, deo. -Incorporated In Ohio on Apr11251895. Road to 1922,Inclusive, $30,000 per annum is payable. The L.&C.bonds can be
called after July 1 1917 at par and Interest. The T. F. & N. bonds can
completed in July 1898. Franchises expire in 1920, 1922 and 1926.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity, be called at 110 and interest on any interest date upon 90 days' notice.
These bonds are guaranteed, principal and interest, by endorsement by the
Stock $2,000,000 (par $100)$1,500,000
First mortgage $500,000 gold( 1896
5 g A-0
500,000 April 1 1916 Lake Shore Electric By. A sinking fund on the T. F. & N. bonds of $10,000
($1 000 each)
c* Interest at Morton Trust Co., N
N. Y. or per annum commenced in 1905 and rune to 1909 inclusive;from 1910 to 1914.
$20,000 per annum; 1915 to 1919, $30,000 per annum.
Cleveland Trust Co., Cleveland, Trustee.
,
Lien.-The T. F. & N. bonds are a first lien on the division between
Collateral trust notes $500,-1 1907
6 J-J
500,000
Ste text
!Int. at Cleveland Tr. Co. Cleve., Trustee. Toledo and Norwalk; the L.& C.bonds are a first lien on the road between
000, par $1,000
Consolinated mortgage $2,'( 1898
5 A-0
631%000 Oct. 1 1018 Cleveland and Lorain: and the new 1st consol. bonds a first lien on all other
Int. at Dime Savings & Banking Co., Clev., lines and also a second mtge. on the divisions noted above.
000,000 ($1,000) gold
( Trustee, or Trust Co. of America. N. Y.
REPORT.-For years ending Dec. 31, not Including Lorain Street RR.
5 g M-N
Ref'g and extension mtge $5,-{ 1908
See text May 1 1948 Figures for 1907 include earnings of Sandusky Fremont & Southern By.,
000,000 gold ($1,000)._c* Int. at Clev. Trust Co., Cleveland, Trustee, placed in operation Sept. 17 1907. See report in V. 86, p. 418.
or company's agency in New York.
1906.
1907.
1904.
1905.
Stock and Bonds.-Of the $2,000,000 consols. authorized, $1,000,000 is Gross earnings
$913,161
$860,720
$788,268
$659,873
reserved to retire underlying liens. It is provided in new ref. and ext. Oper. expenses and taxes
521,559
476,258
428,588
433,709
consols
$369,000
mtge. that remaining
cannot be Issued. Of the ref. and
ext. bonds, $1,631,000 are reserved to retire prior liens, $369,000 are for
Net earnings
$391,602
$384,462
$359,680
$226,164
Immediate extensions and improvements and $3,000,000 are reserved for Interest
294,073
254,198
244,850
244,817
improvements,
to be issued only when net earnings
future extensions and
for preceding 12 months have been not less than 25% in excess of interest
Surplus
$97,529
$130,264
$114,830 def.$18,653.
charges on outstanding bonds, including those to be issued. Subject to Other Income
25,000
6,250
call May 1 1938 or on any int. date thereafter at par and int. on 30 days.
notice. The col. trust notes mature July 1 1908, but were extended for one
Net surplus
$122,529
$136,514
year(V.86, p. 1529). $500,000 common stock is In treasury of company.
ROAD.-Operates 170.49 miles,
from Cleveland to Toledo
ROAD.-Owns road from Euclid. Ohio, to Painesville and Fairport, ann Sandusky. and from Sandusky toextending
Norwalk; also city lines In Sandusky:
24.02 miles ("Main Line"), and uses Cleveland Electric By. from Euclid standard-gauge, 70-1b.
Through
rails.
line
from
Cleveland to Toledo was
to Public Square, Cleveland. 10 miles; also owns "Shore Line," extending opened for business about Aug. 26 1902. In addition
owns the Sandusky
from Willoughby to Glenville, Ohio, 14.89 miles, and uses the Cleveland Fremont & Southern, 20.03 miles,
and the Lorain Street RR., 24.77 miles,
Electric Railway Co.'s track from Glenville to the Public Square, Cleveland, making a total of 215.29 miles. Has 53 double-truck
interurban cars, 23
MAP OF THE
LAKE SHORE ELECTRIC RAILWAY
0 Sub Stations
® A. C. Power Houses
© D. C. Power Stations
&A
Clay
Elliston
GENOA
% Rocky _Ridge
Lake Avon
Amore
NW ly.Dover,
S.Dover
%
Vindse
County tine
.Amherst
Ashmont o
'
Berlin
E
BERLIN
HEIGHTS
Berlinville
B
-E
Cygnet
altimore
Green Spring'
Fia—itck
ON ROEVI LLE
Aldreheado
I
Colliers
gby
ELY RI
0
Henrietta
•
Millers
E NorwalkOberlin
Grafton
° oR
•c
Collins
akeman
Nickel'Plate
ORWALK
La 1 range
-Woo fordi
ISortimer
Shawville
C
sou• )1msted
Fall •
NOR.
New L ndon
------
ELECTRIC RAILWAYS
SEPT.. 1908.1
single-truck city cars, 6 double-truck baggage and freight cars and 32 work
cars. Total, 114.
OFFICERS.-Pres., E. W. Moore; V.-P., W. H. Price; V.-P. and Gen.
Mgr., F. W. Coen, Electric Bldg., Cleveland; Sec. and Treas., John P. Witt.
-V. 83, p. 95, 1098, 1171; V. 84, p. 51, 158, 387, 390, 1366; V. 85. p.
1210, 1646; V. 86, P. 285, 418, 668.
(1) Lorain Street Railroad Co.----A trolley road.
ORGANIZATION.-Incorporated in Ohio on Aug. 3 1906, and is a consolidation of the Lorain St. Railway and the Avon Beach & Southern RR.
Entire stock and $500,000 new consols owned by the Lake Shore Elec. By.
STOCK AND BONDS Par. Date.
Interest. Outstanding. Maturity.
Stock, $2,000,000 ___ $100
See text.
Lor. St. Ry. 1st M.,1 1,000 1894
$200,000 Jan. 1 1915
6 J-J
$200,000
f Interest Guardian Tr, Co., Cleveland. Trustee.
Lor. St. Ry. Corral 1,000
1899 5 g M-N
550,000 Nov. 1 1949
M. $750,000, gold
Int. at Guaranty Trust Co., N. Y., Trustee.
$1,1)00
c•
1st consol. mtge.) 1.000
1906
5 g J-J
500,000July 1 1936
$2,000,000, gold, Int. at Cit. Say. & Trust Co., Cleve., Trustee, or
guar. ($1,000)...co
Agency in New York.
Bonds.-Of the $2,000,000 new bonds, $750,000 are reserved for prior
liens and $750,000 for extensions, etc. They are guar., prin. and int., by
end. by the Lake Shore Elec. Ry.
EARNINGS.-For calendar year 1907, gross, $177,804; net, $67,261:
Interest, $64,500; surplus, $2,761.
ROAD.-Operates 24.77 miles of track between Elyria, Lorain and
Beach Park. Standard gauge. 23 cars.
(2) The Sandusky Fremont & Southern Ry.
ORGANIZATION.-Incorporated in Ohio in April 1906 to act as
feeder of the Lake Shore Electric By., which owns the entire stock. Private right of way.
STOCK AND BONDS- Date.
Maturity.
Interest. Outstanding.
Stock, $2,000,000
Owned by the Lake Shore Electric By.
1st mortgage, $2,000,000/ 1906
$645,000 July 1 1936
5 g J-J
gold ($1,000) guar__c* Int. at Cit. Say. & Trust Co. Cleve.,
trustee, or at Agency In New Yorlc.
BONDS.-Are guaranteed, prin. and int.,by end, by the L. Shore Elec.
By.; not subject to call. See V. 83, p. 1099.
ROAD.-Operates a line from Sandusky to Fremont, 20.03 miles.-V.
83, p. 97, 1099.
CLINTON, IOWA.
CLINTON STREET RV.-Operates 14 miles of track in city of Clinton.
Main line franchises perpetual; others limited to 20 or 30 years. 72 to 80-lb.
T rail. Stock $600.000 ($100) of which $599,800 is outstanding'. Funded
debt consists of $400,000 ($1,000) authorized and outstanding 5% 1st mtge.
bonds (citr), dated 1906, due March 31 1926, Int. payable A. & 0. In gold
at Illinois Trust & Savings Bank, Chicago, trustee. Subject to call after
5 years at 105. $156,000 are reserved to retire same amount of prior liens
due Sept. 1009. Gross earnings for 1907, $122,000; for 1906, $105,000; net
earnings, $52,000, against $44,000.
OFFICERS.-Pres., C. H. Young; V.-P., D. Langan; Sec., A. L. Schuyler; Treas., C. C. Conn; Gen. Mgr., B. Bohnsen.
COLORADO SPRINGS, COL,
COLORADO SPRINGS & INTERURBAN RY.ORGANIZATION.-Incorporated in Aug. 1902 as a consolidation of the
Colorado Springs Rapid Transit Ry. and the Colorado Springs & Suburban
By. The consolidated company,It was understood. would issue $1,500,000
stock and $1,500,000 5% bonds, but information as to new company refused-"Is a close corporation and has neither stocks nor bonds on the market." We are advised, however, that sufficient of the new bonds are reserved for underlying liens. Facts below relate solely to the old Colorado
Springs Rapid Transit fly.
Colorado Springs Rapid TransitSTOCK AND BONDS Miles. Date.
Interest. Outstanding. Maturity.
Stock (par $100)
$500,000 f.p. 1905 6%
73
1890
lst M., $1,000 each __
6 A-0
1910
338,000
Consol. M.,$1,000 ea.1
27
1891
6 g A-0
162,000 Apr. 1 1921
for $500,000, gold J
Central Trust Co., N. V., Trustee.
Interest is payable at Chemical National Bank, New York City.
Consolidated mortgage limited to $500,000 by cancellation of $250,000 of
the bonds: $338,000 reserved for first mortgage.
ROAD.-Owns 38 miles of track.
OFFICERS.-Pres., D. H. Rice; V.-P., A. G. Sharp; Sec., Wm. Lloyd:
Treas.. C. S. Chamberlin.-V.70, P. 75. 175, 328.
COLUMBIA, S. C.
COLUMBIA ELECTRIC STREET RAILWAY LIGHT & POWER.-A
trolley road.
ORGANIZATION.-Is a consolidation on July 1 1905 of the Columbia
Elec St. By., Lt & Power Co. and the Columbia Water Power Co. The
first mentioned was organized in S. Car. Jan.6 1892 and was a consolidation
of the Columbia Electric & Suburban By. Co. and the Congaree Gas &
Electric Co. Acquired the Columbia dc Eau Claire Electric By. The
Columbia Gas Light Co. Is owned by friends of the company.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Corn., $1,000,000 ($100)
$1,000,000
Pref., $600,000 6% cum.l
600,000 Jan.'07. 3%
J-J
($100)
Mortgage, $2,000,000 g.($500) 1905
1,q66,000 July 11035
5 g J-J
& $1,000
B nk N w York ,
}Interest at Ch mic,1 N
i Trustee, or company's agency in New York.
Bonds.-Of the 52,000,000 new bonds, $1,066,000 are outstanding and
$534,000 are in the treasury and $400,000 are reserved for future betterments. A sinking fund of $10,000 per annum commences July 1 1906.
Dividends.-First dividend on preferred stock-3%-paid July 1 1006;
Jan. 1907, 3%; none since.
EARNINGS.-For calendar year 1907, gross, $410,254; net, after taxes,
$202.555: Interest, $90,393; surplus, $112,162, which was used in erecting
new turbine steam plant of 5.000 h.p.
BOA D.-Operates about 25 miles of track. Also does all electric lighting for city. Owns water-power contracts and water-power plant generat
Ing 8,000 h.n. and 5,000 h.p. turbine.
OFFICERS.-Pres., and Treas., E. W. Robertson; 1st V.-P., Lewis M
Parker; 2d V.-P. and Gen Mgr., Wm. Elliott Jr.: Sec., G. l. B rry.-V. 81,
p. 507, 974; V. 84, p. 931.
COLUMBUS, GA.
COLUMBUS ELECTRIC CO.
ORGANIZATION.-Incorporated in Maine on Feb. 6 1903 and owns all
the securities of the Gas Lt. Co of Columbus, the entire common and part
of the preferred stock of the Columbus Power Co. and the greater part of the
securities of the Columbus RR. Co., which companies do the entire street
railway and lighting and power business of Columbus and the adjoining
towns of Phoenix and Girard. Franchises perpetual. The freight lines
are leased to the Seaboard Air Line By. for 50 years from Oct. 17 1001 at a
rental of $7,500 per annum.
Date.
interest.
STOCK AND BONDSOutstanding. Maturity.
$1,500,000
Corn., $1,500,000 ($100)
J-J'
272.000 July'08,3%
Pref., 6% non-cum., $500 ___
000 ($100)
5 g A-0
1st coll. M.. $1,500,000 goldl 1903
689,000 Apr. 1 1933
($1,000)
c• Interest at City Trust Co., Boston, Trustee
5 A-0
423,000 Oct. 1 1937
Col. RR. 1st
mortgage,! 1898
$450,000, g. ($1,000) _ __1Int. at West End Trust Co., Phila., Trustee.
250,000 Oct. 1 1937
Col. RR. 2d mortgage: lst1 1903 6 A-0
pref., Inc., gold, non-Interest at City Trust Co., Boston, Trustee.
cum., $250,000
6 JD
G. L. Co. of Col mtge._
15.000 June 1 1911
_ 1891
Bonds.-Of the $450,000 Columbus RR. 1st mortgage bonds, $27,000
are reserved to retire underlying 6% bonds of like amount due in 1913. The
new $1,500,000 bonds of the Columbus Electric Co. are subject to call on,
on or after April 1 1908, as a whole, at 105 and interest. $80,000 are reserved to retire a like amount of Columbus RR. bonds. An "Improvement
fund" of 2% per annum of outstanding bonds commenced in 1906.
Dividends.-First div. on pref. stock, 3%. was paid Jan. 1907; 3% was
again paid July 1907. In 1908, Jan., 3%; July, 3%.
33
ROAD.-Operates 26.7 miles of track, of which 5 miles leased to Seaboard
Air Line. 38 motor cars. Standard gauge. 40, 56 and 60-lb. rail.
EARNINGS.-For 12 months ending Dec. 31 1907, &rross. $340,574; net,
$155,875; charges, $122,495; improvement fund, $13,780; dividends.
$15,000; surplus, $4,600.
OFFICERS.-Pres., Charles F. Wallace; Sec., Alvah K. Todd; Treas...
Henry B. Sawyer; Gen. Mgrs. and Transfer Agents, Stone & Webster,
Boston.-V. 82, p. 509; V. 83, p. 1590; V. 84, p. 931.
(1) Columbus Power Co.
ORGANIZATION.-Is a consolidation In March 1906 of the Columbus
Power Co., the Coweta Power Co. and the Chattahoochee Falls Co. Entire
corn, stock and part of the pref. is owned by the Columbus Electric Co.
STOCK AND BONDS- Dale.
Interest, Outstanding. Maturity.
Common, 51,500.000 ($100)51,500,000
Pref, $1,500,000, $100, 6%l
non-cum, red at 105
350,000
5
1st mtge, $4,000,000, gold,1, 1906
5 g A-0
1,375,000 April 1 1938
c Int. at Commonw. Tr. Co.. Boston, Trustee.
guar
Gold notes, $250,000, guar, 1906
5 g A-0
250,000 April 1 1911
principal and interest, by Redeemable at par on any interest date.
Columbus Electric Co
Interest at National City Bank, New York.
Bonds.-Of the $4,000,000 authorized, $2,625,000 are reserved for
future purposes. Are guar., p. & I.. by Columbus Electric Co
A sinking
fund of 1 % of bonds out commences April 1 1912. Bonds subject to call as
a whole at 110 and Interest on any interest date.
PLANT.-Controls by ownership or lease developed water cower on
Chattahoochee River aggregating 9.000 h. p. Also owns steam plant of
3,000 h. p. In city of Columbus. Proposes to have an ultimate hydraulic
development of 75,000 h. p.-V. 82, p. 512.
•
COLUMBUS, OHIO.
COLUMBUS RY. & LIGHT CO.-Trolley and electric light.
ORGANIZATION.-Incorporated in Ohio on May 12 1903 and acquired
under lease the Columbus By. Co. and the Columbus Edison Co. at a rental
of guaranteed dividends at the rate of 5% per annum on the preferred stock
of the former and 6% per annum on the preferred stock of the latter, and 5%
per annum on the common stock of each, the dividends on the common
of each company to commence Sept. 1 1903. Holders of common stock of
the two companies were allowed to subscribe to the stock of the new company to the amount of their present holdings, 20% to be paid in cash and
the remainder subject to call, but not more than 10% in any one year.
See V. 76, p. 1142. Lease was slightly amended in Jan. 1906 (V. 82,
160) and bonds and stock of the Columbus By. Co. are to be taken by the
p'
lessee at par in payment of advances made by the lessee for construction
and improvement of property. In July 1906 the U. S. Court granted a
perpetual injunction restraining the city from enforcing an ordinance
passed In 1904 reducing the charge for electricity. V.• 83, p. 94, 323.
On March 4 1907 leased for 50 years the Columbus Traction Co., which is
the successor to the Central Market Street Ry.; for terms of lease see that
company below.
On Sept. 18 1908 stockholders ratified lease of the Columbus Light, Heat
& Power Co., after the latter had acquired the property of the Columbus
Public Service Co.-see statement below. V. 87, p. 740.
Shareholders of the Columbus Edison Co. (see below) voted March 2 1908
to increase authorized common stock from $450,000 to $750,000 and preferred from $550,000 to $750,000. V. 86. p. 288, 796.
Interest. Outstanding. Dividends.
STOCKDale.
55,000.0001
Stock, $5,000,000
Quer. 120% paid in.fOct '08, 3i %
COLUMBUS RAILWAY CO.
Interest, Outstanding. Last dlv.,cte
STOCK AND BONDS- Date.
Stock, common, $3,500,000
ff.pt 1 1908
($100)
1 i.j %
53,000,0001,
5 Q-M
Stock, preferred $3,500,000
J tg 1 1908
($100), 5% cum guar
3,500,000
5 Q-F
U1%
Col Con Street RR 1st g, may 1889
511,000 July 1 1909
5 g J-J
be called for a f at 1 0_ _ _ Interest at Central Trust Co., New York
Col St By 1st, $3,000,000, 1892
5 g J-J
2,489,000 July 1 1932
gold
c* Interest at E. W. Clark & Co., Philadelphia.
Knickerbocker Trust Co. N. Y. Trustee.
Crosstown 1st mtge, gold, gu, 1893
5 g J-D
572,000 June 1 1933
prin & lot
c• Knickerbocker Trust Co., N. Y., Trustee.
Col By 1st consol mtge, $7,-1 1899
3,42/1,000 Oct 1 1939
4 Q-J
000.000 ($1,000), gold, c• Unterest at Union Savings Bank & Trust Co.
Bonds are redeemable afterj of Cincinnati, Trustee, at E. W. Clark &
Oct 1 1914 at 105 and int.) Co., Philadelphia, or at company's office.
Bonds.-The Columbus Street By. mtge. of 1892 is for $3,000,000, of
which $511,000 are in hands of Trustee (Knickerbocker Trust Co., N. Y..
to retire the Col. Consol. St. RR.firsts. The Crotstixon Street Ry. 1st mtge.
Is for $2,000,000, of which $572,000 are outstanang; the rest have been canceled. Principal and interest of the Crosstown boi.ds were guaranteed by
the old Columbus Street By. Co.
Of the $7,000,000 mtge. of 1899 of the Cole athus By.. $1,500.000 were
Issued in payment for the Columbus Cent. By. property: $3.000,000 will
be held in trust to retire the Columbus St. Ry and the Columbus Consol.
Street RR. bonds, $572,000 to retire the Crosstr an mtge. bonds and $300,000 to take up unsecured 4% notes of the Cohn., bus Street Ry.: $1,628,000
was reserved to be used hereafter from time to Arne In making extensions.
improvements and additions-$628,000 upon or, 2-3 vote of directors, the
other $1,000,000 only on a vote of stockholders. This covers the whole
$7,000,000. In the table above we report as outstanding $3,428,000.
This includes $1,500,000 issued in payment for the Columbus Central Ry.,
$300,000 issued under the clause providing for the retirement of 4% notes
and 51,628.000 under the clauses concerning Improvements.
EARNINGS.-For calendar year 1907: Gross, $2,256,519; net, 51.102.•
640; fixed charges, $911,059; dividends, $75,000; surplus, $116,581. In
1906: Gross, $1,931,088; net, $784,667; fixed charges, 5577,402; dividends.
$100,000; surplus, $107,265. Total passenzers carried, Including transfers,
was 61,587,478 in 1907, an increase of 7,657,792.
Dividends.-FIrst dly. on Columbus By. dc Light stock, 1%, was paid
Jan. 15 1906, and 1% was again paid July 16 1906: in 1907. Jan. 1, 1%;
July 15, 1%; and also %% Oct. 1907. In 1908, Feb., %; Apr., 14%;
June, 54%: Oct. 3%.
Franchises.-dreutt Court at Columbus. 0., on June 25 1003 handed
down a decision sustaining the claim of the Columbus By. to perpetual
franchise rights on certain streets. V. 77, p. 35.
COLUMBUS EDISON CO.
Maturity.
STOCK AND BONDS- Date.
Interest. Outstanding.
$630,000 S pt'08.1 t %
Common ($100) $75
____
5 Q-M
Nov.1ul y'0s
1 19
1211%
:00000
0
Pref 6% cum ($100) $75,0J
6 Q4
750
30
Col Elec 1st mtge, gold. guar
6 g M-N
300,000 April 1 1929
--------5 g A-0
Col Ed El 1st mtge, gold, guar_
Bonds.-Both underlying liens are guaranteed by Columbus Edison Co.
PROPERTIES CONTROLLED.-The Col. By. & Light operates 109
miles of track 5.6 of which is a new suburban line and 12 miles interurban.
Also does the greater part of the electric light and p^wer business of Columbus and has leased the C,
Iumbus Traction lines. 16 miles.
OFFICERS.-Pres., Robert E.Sheldon; 1st V.-P., Gen. Mgr. and Treas..
E. K. Stewart: 2d V.-P., C. M. Clark; Sec. and Auditor. P. V. Burington.
-V. 82. p. 160; V. 83, p. 94. 323. 1523; V. 84, p. 51. 157, 338, 995; V.85
p. 864; V. 86, p. 284, 420; V. 87, p. 96, 346, 543, 740.
(1) Columbus Traction Co.-A trolley road.
ORGANIZATION -Incorporated in Ohio on Dec. 26 1906 and is successor to the Central Market Street By., sold under creditor's bill in Feb,
ruary 1906. subject to the $500,000 bonds. New company is leased to the
Columbus By. & Lt. Co. for 50 years until 1957. rental being 5% on pref.
stock: cons. stock receives 1 % on Jan. 1 and July 1 1908 and Jan. 1 1909;
114 % on July 1 1909 and Jan. 11910: 2"t. July 1 1910 and Jan. 1 1911 and
1 % quarterly thereafter. The Col. By. & Light Co. owns $250.000 of
the pref. stock, leaving $250,000 in the treasury of Traction Co. for betterments and improvements, and owns all of the common of this company.
Franchise provides that tickets shall be sold 8 for 25 cents and that a 5-cent
cash transfer be issued to all lines entering or using the Columbus London
& Springfield By. Co. Interurban loop.
Interest. Outstanding
Maturity.
STOCK AND BONDS- Date.
$500,000
See text.
Common, $500,000 '
250,000
See text.
_
Preferred, $500,000
500,000 Jan 1 1922
5 g J-J
Cent Mar 1st mtge, 5500,000,1 1902
c•JInterest at N. Y. Trust Co., N Y.. Trustee.
gold ($1,000)
34
ELECTRIC RAILWAYS
V oL. LXXXT
Bonds.-A sinking fund of 5% of gross receipts commences after 5 years.
Interest. Outstanding. Maturity,
STOCK AND BONDS- Date.
Entire issue is subject to call after 5 years at 110 and interest.
Common, $5,750.000 ($100)$5,750,000
6 Q-J
500,000 Oct'08 1;4 %
ROAD.-Operates 16 miles of track, all in city of Columbus.-V. 84. Pt,6% cum, $500,000 ($100)_ ____
1st mtge, $2,000,000, gold 1904
1,250,000 Mch 1 1924
5 g M-S
. 51, 338.
($1,000)
c Int. at Knickerbocker Tr. Co., N. Y., Trus.
(2) Columbus Light. Heat & Power Co.
Gen & ref mtge. gold, $6,- 1906
736,000 May 1 1926
5 g M-N
250,000 ($1,000)
c* Int. at Girard Trust Co., Phila., Trustee
Lease.-Has been leased to Columbus Railway do LighttCo. for 50 years
1,243,000 Nov 1 1921
5 g M-N
from 1908, with renewal privileges. Lease provides for 6% on outstanding CBL &N 1st mtge. $1,500,- 1901
000. gold ($1,000)
c• Int. at Knickerbocker Tr. Co., N. Y.. Trus.
bonds and preferred stock of company, and dividends on common beginning
5 g A-0 15 $750,000 Oct 15 1912
in 1909 at 3%,1910 4%,1911 and thereafter 5% quarterly. V 87, p. 547. Zanesville Ry, Lt & Pow 1st) 1SC2
cons mortgage, $1,000,000 tint. at Cent. Tr. & S. D. Co., Cinc., Trustee,
ORGANIZATION.-Incorporated Aug. 1 1908 in Ohio, and acquired
($500,
$1,000),
Co. of America, New York.
Trust
gold__
_c*j
or
_
the property, of Columbus Public Service Co. per plan In V. 87, p. 346, 547.
Registrar, Guardian Trust do Safe Deposit Co., Zanesville, Ohio.
STOCK AND BONDSDate.
250,000 Jan 1 1919
Interest. Outstanding. Maturity. Zanesv Elec 1st mtge, $250,-1 1899
4 g F-A
Common,$750,000 ($100)_ _ _ _ _
000, gold, subject to call}Interest at International Trust Co., Boston,
$200,000
Pref. 6%,$1,250,000 ($100)_
after 1903, $1,000 each_ _cj Trustee.
420,000
1st mtge, $1,000,000
1908
Bonds.-Of the $6,250,000 new bonds, $3,771,000 are reserved to retire
one
6%
Col Pub Ser Co, $750,000, g__ _
6%
750,000 Feb 1 1924 prior liens and $1,743,000 for betterments and extensions. They are subStock and Bonds.-The preferred stock is redeemable after Jan. 1 1912.
ject to call after 5 years at 105 and Interest. Under terms of this mtge.,
OFFICERS.-Pre
OFFICERS.-Press.
., Butler Sheldon; 1st V.-P., George Hardy; 2d V.-P., none of the $750,000 1st mtge. bonds unissued can now be issued. The
William K. Lanman;
H. M. BurIngton; Treas., Harford T. Stewart. entire issue of Col. New. do Zanesv. 1st 5s can be called at 110 and int, on
any int. date. V. 80, p. 1234. The Col. Buck. L. & New. bonds are subV. 87, p. 346, 547.
ject to call on any Int. date at 110 and Int on 3 months notice.
EARNINGS.-For calendar year 1907, gross, $707,730; net, $381,570;
other Income,$7,168;Interest, taxes, &c.,$222,670; pref. dividend,$30,000;
OHIO ELECTRIC RAILWAY CO.
surplus,
$136,068.
Incorporated May 1907 in Ohio with $100,000
On Aug. 27 1907
ROAD.-Operates about 94 miles of track from Columbus to Zanesville,
this was Increased to $25,000,000, half commoncapital.
and half preferred. On Including the city lines in Zanesville. Newark
Sept. 1 1907 the company acquired by lease the Indiana
and Granville, and a branch
Columbus & East- to Buckeye Lake. Standard gauge; 60 and 70-lb.
ern Traction Co. and, by purchase, the Lima do Toledo Traction Co.,
T rail and 90-1b. girder.
which
OFFICERS.-Pres.. Dana Stevens; V.-P.. J. B. Foraker Jr.: Sec. and
It Is now operating In the following districts: Western district, Dayton
to Treas., F. A. Healy.-V.83,p. 36,213, 625;V. 86,p. 1589;V.
Richmond and Dayton to Union City; central district,
87,p 37.
Columbus
Dayton
to
and Springfield to Lima; eastern district, Columbus to Newark and Zanes(2) Lima & Toledo Traction Co.
ville, and also Columbus to Grove City and Morgan; northern district, Lima
Acquired by purchase by the Ohio Electric By. Aug. 1907.
to Ft. Wayne. Lima to Defiance and Lima to Toledo.
line from BelleORGANIZATION.-Organized on March
fontalne to Lima and Ottawa to Toledo was completed The
1905 and leases the Lima
In 1908. The Ohio Electric By. & Lt. Co. and the Ft. Wayne Van23
Wert de Lima Traction Co.
Electric Railway Co. on Feb. 1 1908 also acquired from
the Cincinnati Has made a contract with Western Ohio By. for
supply of power from that
Northern its lease of the Cin. Dayton dc Toledo 'Fraction Co.,
run
latter
the
company
until 1913. Street railway franchises in Lima expire in 1932.
ning from Cincinnati to Dayton. With the local lines in Lima, Newark,
Zanesville and other points comprises 700 miles of track, as well
BONDS.STOCK
AND
Date.
Interest.
Outstanding. Maturity.
as the electric-lighting and power plants in Lima and Zanesville. All
the proper- Common $2,000,000 ($100)
ties mentioned belong to the Morgan-Schoepf interests, and theof
1,000.000
Ohio Electric Pref $1,000,000 5% n c ($100). ___
Railway lines will be affiliated with the properties of the Morgan-McGowan
1st mortgage $2,750,000 gall 1907
5 g M-N
2,250,000 May 1 1927
Interests in Indiana.
($1,000)
c Int. at Provident Life do Tr. Co., Phila, Trus.
Bonds.-Are subject to call years after date at 105. No sinking fund.
STOCK AND BONDS- Date. Rate %. Outstanding. Dividend.
Common, $12,500,000
ROAD.-Has a line from Lima to Toledo, which was completed in 1908.
$8,000,000
Preferred, $12,500,000
Also leases the Lima Elec. By. & Lt.,12 miles, and the Ft. Wayne Van Wert
8,000,000
Stock.-Preferred is entitled to dividends of 2% in
& Lima Trac. Co., 60 miles.
1909,
in
4
%,
1908,3%
In 1910 and 5% thereafter.
OFFICERS.-Pres., D. G. Edwards; V.-P. W. H. McAlister: Sec.,
OFFICERS.-Pres., W. Kesley Schoepf; V.-P. 'a Norman McD. Craw- E. A. Russell; Treas., W. H.Schubert.-V.82, p. 692; V. 84, p. 339; V. 85,
p. 221, 284, 601.
ford, Dana Stevens and J. B. Foraker; Sec. and Treas.. F. A. Healy.
-V.84,
p. 1248; V. 85, p. 531, 601, 1144; V. 86, p. 338; V. 87, p. 38.
(a) Lima Electric Rail way & Light.-A trolley road
ORGANIZATION.--The company is a consolidation completed Aug. 1
(1) The Indiana Columbus & Eastern Traction Co.-A trolley road.
1900 of the Lima Ry. (incorporated Nov. 5 1896) and the Lima Electric
Leased to the Ohio Electric fly. Sept. 1 1907. Latter company guaran- Light & Power Co., the only companies engaged in these lines in Lima.
tees interest on bonds and 5% dividends on pref. stock.
Of the stock, $350,000 is in the company's treasury. Capital stock was InORGANIZATION.-Incorporated in Ohio on April 14 1906 and has ac- creased in Sept. 1905 from $850,000 to $1,250,000. V. 81, p. 1100. Was
quired the Dayton Springfield & Urbana Elec. Ry., the Columbus London leased July 1 1905 to the Lima & Toledo Traction.
& Springfield Ry., the Columbus Grove City & Southwestern Ry., the
STOCK AND BONDS.Tnterest. Outstanding, Maturity.
Date.
Urbana Bellefontaine .So Northern By.. the Springfield do Western By., the Stock $1,250,000 ($100)_
$900,000
Dayton & Northern Traction Co.. and about 12 miles of the Dayton do Lima By 1st mtge $200,0001 1896
5 g J-D
155,000 Dec 1 1916
Muncie Traction Co., xtending from Greenville to Union City, on the
c* }Int. at Dime Say. de Bisg. Co., Cleveland.
gold (3500)
Indiana-Ohio State ine, the remainder of the road (from Union City to
1 Trustee; also at Fourth .at. Bk., N. Y.
Muncie) being acquired by the Indiana Union Traction Co. Has also ac- Lima Elec Lt & Power gold) 1900
5 g J-D
45,000 June 1 1917
quired the Columbus & Lake Michigan RR., a steam road, operating be1st M $85,000 ($1,000).._c*fInt. at Cleve. Trust Co., Cleve., Trustee.
tween Lima and Defiance, which will be converted to electricity. Has
Lima Elec Ry & Lt gold 1st; 1900
5 g J-J
260,000
July 1 1918
made contract with Western Ohio By. for supply of power from that comcon mtge $500,000 ($500)cli Int. at Cleve. Tr. Co., Cleve., Trustee, or
pany until 1913. Franchises have an average life of 25 years.
1 Standard Trust Co., New York.
Leases the Dayton & Western Traction Co. and the Columbus Newark & 2d Consol mtge, $850,000 1902
5 g A-0
350,000 April 1 1925
Zanesville Elec. By., which latter company had previously absorbed the Lim
goa
ldEle
00
y0)
$c1.B
&
c* Int. at Fidelity Tr. Co. Buffalo
Buffalo, Trustee.
Columbus Buckeye Lake & Newark Traction Co.and the Zanesville Ry.Light
Lt Refund'g 1905
5
g
M-S
000 Sept 1 1925
54
& Power Co. Completed in 1908 a line from Bellefontaine to Lima, 32
mtge $1,250,000 gold
Int. at Girard Trust Co.,., Phila.,
'
Pa.
Bonds.-Of the first con. mtge. gold 5s, $200,000 are reserved to retire
ne new general and refunding mortgage bonds were listed on the Phila- the
above
two
prior
liens.
The
bonds
Ry.
Lima
may
be
called in 1907 at
delphia Stock Exchange in February 1907. V.84, p. 339. See description par, on 4
weeks' notice, and the Lima Elec. Lt. & Power bonds may be
of bonds, property, &c., In V. 83, p. 37.
called on any Interest day on 30 days notice. Of the $850,000 2d consols,
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity. $500,000 are reserved to retire a like amount of first consols These bonds
Common, $11,000,000 ($100)$11,000,000
are a lien on the electric light and heating plant, as well as on the railway.
Preferred, $1,000,000 ($100) _ _
1,000,000
See t xt. Cannot be called before maturity. See V. 75, p. 79.
Gen and ref mtge, $12,000,- 1906
5 g M-N
6,645,000 May 1 1926
ROAD.-Owns 12 miles of track, also a steam-heating plant (franchise
000, gold ($1,000)
c* Int.at Pa.Co.for Ins.on L.&G.A.,Phila.,Trus. perpetual,
operated in connection with the electric-lighting plant).
Col Lon & Spg 1st mtge. $1,- 1900
5 g A-0
500,000 Oct 1 1920
500,000, gold ($1,000) _ _e• Int. at N. Y. Trust Co., New York, Trustee.
OFFICERS.-Pres., Dana Stevens; V.-P., J. B. Foraker Jr., Cincinnati;
and
Sec.
Col Grove City & S W lstl 1901
Treas.,
5 J-J
F. A.
Cincinnati.-V. 71, p. 29, 342; V. 74, p.
5,000 July 1 1921
mtge. $250,000 ($1,000)_c New York Trust Co., New York, Trustee, 829, 1089; V. 81, p. 155.Healy,
1100.
Day Spg & Urb 1st mtge,) 1898
5 g M-N
750,000 Nov 1 1928
(b) Fort Wayne Van Wert & Lima Traction Co.-A high-speed interurban
$750,000. gold ($1.000)___JInterest at N. Y. Trust Co., N Y., Trustee. trolley road.
Bonds.-01 the $12,000,000 new bonds, $7,900,000 are to be issued for
ORGANIZATION.-On March 1 1006 was leasea, until expiration of
purchase of present properties and improvements. Of this $7,900,000, franchises, to
& Toledo Traction Co., which guarantees the bonds.
$1,250,000 are held to retire the underlying liens given In table above. prin. & int. Lima
V. 82, p. 691. Incorporated in Indiana and Ohio. Has
The remaining $4,100,000 are reserved for future betterments, Improve- made contract with
Western
Ohio By. for supply of power from that comments and extensions, and can only be Issued as follows: $500,000 when pany until 1913. Road is entirely
on private right of way,except in towns.
net income is equal to 1 1-10 times interest charges on all bonds, including where It has 25 or 50-year
franchises.
$3,600,000
those to be issued, and
when net Is equal to 13i times Interest
STOCK
$l
A.N
u0D
0 BONDS,Interest Outstanding. Maturity.
.
. .Date.
charges, Including Int. on bonds to be issued. These bonds are subject to
$1,000,000
call in whole, but not in part, after May 1 1911 at 105 and int. $4,900,000 Common
00
00 July
000:0
1:4
0 - •j1
of these new bonds were sold to a syndicate headed by Drexel dc Co. of Phila. Pref $1,000,000 5% n c ($100)- ------------1 1930
5
The Columbus London & Springfield bonds may be called after 1006 at 1st mortgage $2,000,000 gold) 1905
Phila.,
Co.,
($1,000)
Trustee.
Tr.
guaranteed
__
.
Fidelity
_c•jInt.
at
sulking
fund
on these bonds of 5% of gross earns, begins
110 and int. A
Bonds.--Of the $2,000.000 bonds. $600,000 are reserved for extensions
with year ending Sept. 30 1906. See V. 71, p. 963. The Dayton Springfield & Urbana bonds are subject to call at 110 and Interest since Nov. 1 and improvements. V.82, p. 691. Arc not subject to call.
ROAD.-Operates 60 miles of track from Ft. Wayne via New Haven,
1905. A sinking fund of 5% of gross earnings began in 1903.
Monroeville, Convoy. Van Wcrt, Middlepoint, Delphos and Enda to Lima.
ROAD.-Will operate 444.79 miles of track (including 138.98 miles of Commenced complete operation Nov. 15 1905. Standard gauge, 70-lb. Tleased lines) extending from Zanesville on the east via Newark to Columbus rail. 10 passenger cars and 1 express car.
and thence through Springfield to Dayton,and from Dayton to Muncie, Ind..
OFFICERS.-Pres., W. Kesley Schoepf; V.-P., D. J. Cable; Sec. and
and Richmond, Ind., where connection is made with lines to Indianapolis, Treas., F. A. Healy.-V.82, p. 601, 804; V. 83, p. 37.
and north from Springfield through Urbana and Bellefontaine to Lima and
(3) Cincinnati Dayton 6c Toledo Traction Co.-Trolley.
to Defiance, all in Ohio.
Leased to the Ohio Electric By. Co.; see terms below.
FIC ERS.-Pres.. D. G. Edwards; V.-P., J. B. Foraker Jr.; Sec. E. A.
ORGANIZATION.-Incorporated in Ohio on May 19 1902, and a conRussell: Treas.. W. II. Schubert.-V.83, n. 37, 155, 380, 626, 1098N.
84, solidation of the Southern Ohio Traction Co., the Cincinnati doisNorthp. 339; V. 85, p. 600; V. 86, p. 721; V. 87, p. 37.
western By., the Miamisburg do Germantown Traction Co. and the Hamil(a) Dayton & Western Traction.-Trolley road
ton & Lindenwald Elec. Trans. Co. V. 74, p. 884, 1037. Franchises are
ORGANIZATION.-Incorporated on June 26 1808. Was leased on June for 25 and 50 years. An issue of $250,000 preferred stock was made in
April 1905 to take up floating debt. V. 80, p. 1362, 1478, 1728.
(V.
East.
82, p. 1437). For terms, see below.
15 1906 to Ind. Coium. &
Lease.-Was leased to the Cincinnati Northern Traction Co. Mty 1 1905
In June 1906 we were informed that franchises expire some in 17 and
for length of franchise and renewals thereof. Lease transferred to Ohio
some in 44 years.
Electric
By. Co. Feb. 1 1908, and Mc. Northern now maintains only a
STOCK AND BONDS
Date
Interest. Outstanding,
mminal corporate existence. The lessee Is to pay all fixed charges, InLast Div
Stock, $900,000 ($100)_ --$900,000
See text cluding interest on the 81 ,500,000 bonds, and In additirm it agrees to
Do
pref, $850,000, 5%,)
pay $25,000 the first year, 337,500 the second year, $50,000 the third
cum ($100)
Q-J
850,000
See text year, $50,000 the fourth year, $62,500 the fifth year, $75,000 the sixth year,
Dividends.-Lease taking effect June 15 1906 provides for 5% per annum $87,500 the seventh year, $100,000 the eighth year, and an additional
on pref. stock and 5% on corn. stock in 1006 and 1907, 5%% In
1908 and $12,500 per year when the annual gross earnings of the lessee from operation
thereafter.
6
shall amount to $1,200,000, and increasing at the rate of $12,500 per year
with each $100,000 of increase in gross earnings, until the amount to be paid
ROAD.-Dayton, Ohio. to Richmond, Ind., 40 miles, with
branch from Is $200,000; also $2,000
per annum for organization and office expenses
New Westville to New Pads, 214 miles; total. 425i miles. At
Richmond
ODitnection is made with Richmond Street dc Interurban By.,
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
making
a through line from Indianapolis, via Dayton, to Columbus, athus
J-J
$5,000,000 See text.
distance of Common,$5,000000 ($100) - ---184 miles. V. 82, p. 1437; V. 83, p. 36, 94, 379.
Pref., $250,000,'5% cum__- -- - J-J
250,000 See text
Cin. Day. & Tol. 1st cons.) 1902
5 g J-J
2,700,000 July 1 1922
OFFICERS.-Pres. and Treas., Valentine Winters, Day ton; Sec.,
11.
R.
M.,$5,000.000,g.($1,000)c*JInt. at Cleveland Trust Co.. Trustee.
Dickey Jr., Dayton.
Southern Ohio Trac. 1st cons.
82.000.000 ($1,000)gold, c* 1900
5 g M-N
(b) Columbus Newark dc Zanesville Electric Ry.-A trolley road.
1,350,000 May 1
Interest at Clay. Trust Co., Trustee, or at Standard Trust Co., N.'20
ORGANIZATION.-Incorporated in Ohio on July 2 1902,
Y.
and
in
May
Ctn.&
1898
Ham.Elec.lst
g.($500)
6
g J&J
1
400,000 Apr. 11018
1904 absorbed the Newark & Granville Street By. In May 1906 acquired
$500,000, not sub. to call_ Int. at Cit. Sav.&Tr. Co., Cleve., Trustee.
the Columbus Buckeye Lake & Newark Traction Co. the preferred shareDayton Traction 1st M. 1896
5 g J-J
250,000 July 1 1916
holders being given $500,0e0 in pref. stock for their'
holdings.
took
g.($1,000). Int. guar_ _c* Int. at Finance Co. of Penn., Phila., Trustee.
over the Zanesv. Ry. Light & Power Co. and was then leased onAlso
June 23 Hamilton
&
Lindenwaidl
1906 to the Indiana Colum. & East. Trac. Co. for length of franchise
and
Elec. Transit 1st M. s. f.} 1901
5 g .T-D
250,000 Dec. 1 1911
Rental is Interest on bonds, an amount equal to
renewals thereof
6% on
$250,000 g. ($1,000), c*i Interest at Cleveland Trust Co., Trustee.
the preferred stock and $100 for organization expenses. V. 83, p.
625. Mlam. & Germ. 1st, guar., 1901
5 g J-D
50,000 Dec. 1 1911
Entire common stock is owned by Ohio Electric By. Co.
($30,000) g. (81,000)_vs, Interest at Cincinnati Trust Co.. Trustee.
SEPT.. 1908.]
35
ELECTRIC RAILWAYS
Bonds.-None of the issues arc subject to call. Of the $5,000,000 Ctn.
Day. & Tol. Trac. Issue, $2,300,000 is reserved to retire prior liens. See
V. 81, p. 154.
Of the *2,000,000 So. Ohio Traction bonds, $850,000 are reserved to
retire Cin. & Ham. Electric bonds and Dayton Traction bonds. Issue
listed on Philadelphia Stock Exchange.
The Ham. & Lind. Elec. Tran. bonds cannot be called before maturity;
a sinking fund, however, is provided, beginning with Dec. 1 1906, of 5%,
and increasing by 1 % additional each year until 1911.
Dividends.-5% per annum is paid on the pref. stock. On common dividends are being paid in accordance with terms of lease.
ROAD.-Owns 83.93 miles of track (including second track and sidings),
connecting Cincinnati with Dayton. Obtains entrance into Cincinnati to
Spring Grove Ave. at Linden St. over the Cin. Northwestern Division.
Road between Hamilton and Dayton is practically being reconstructed on
private right-of-way.-V. 81, p. 154.
COLUMBUS DELAWARE Ec MARION RY---A holding company.
ORGANIZATION.-Incorporated in Ohio in Oct. 1904 and owns the
entire capital stocks of the Columbus Delaware & Marion Elect. RR.($1 ,0001)00) the Marion fly. Light & Power Co. (5500,000) and the Columbus
Northern Ry. Power & Equip. Co. ($300,000). The same or affiliated
Interests control the Marion & Western Ry. Light & Power Co., the
Marlon & Suburban Ry. and the Columbus Marlon & Bucyrus RR.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Common ,$2,100,000($100)$2,100,000
Pref."A"6% cum. $500,000_
Pref."B" 1-6% cum 5400.000
915,000 Aug. 1 1944
5 g F-A
1st ref mtge., 52,500,000,1 1904
gold ($500 Ec $1,000) __c*JInt. at Mercantile Tr. Co., N. Y., Trustee.
Stock.-The pref. "A" and pref. "B" shares were created in 1908 (V. 86,
p. 1284), and dividends on both are cumulative, but those on the "B"
shares are entitled to only 1% the first year, with an additional 1% for each
year thereafter until 6% is reached.
Bonds.-Of the new ref. mtge. 51,585,000 are reserved to retire the bonds
of the Col. No. Ry. P. & E. Co., the Marion Ry., Lt. & P. Co. and the C. D.
& M. Elec. RR.
OFFICERS.-Pres., John G. Webb; V.-P., 0. M. Gotschall; Sec., Henry
B. Hane; Treas., N. J. Catrow; Gen. Mgr., George Whysall.-V. 80, p. 117;
V. 86, p. 516, 1284.
(1) Columbus Delaware Ec Marion Electric RR.ORGANIZATION.-Incorporated In 1901.
Outstanding. Maturity.
Date. Interest.
BON DS$1,000,000 May 1 1921
5 g M-N
1st mortg., $1,000,000. gold( 1001
leveland.
c*I Int. at Cleveland Tr,
($1,000)
Co..In N. Y.
(Trustee, or Nat. Bank of Com.
78.
p.
75,
Bonds.-See V.
ROAD.-Operates an electric railway over private right of way ram
Columbus to Marlon, passing through Franklin, Delaware and Marion
counties. Also 7 miles in the City of Delaware, a total of 57 miles.
OFFICERS.-Pres., Jno. G. Webb; V.-P. 0. M. Gottschall; Treas.,
Henry B. Haile; Sec., Jas. S. Webb; Gen. Mgr., Geo. Whysall. Office.
Ruggery Building, Columbus,0.-V. 77, p. 1533, 2281; V. 80, p. 117.
(2) Columbus Northern Ry. Power & Equipment Co.ORGANIZATION.-Incorporated In Ohio on Oct. 24 1904 to erect a
power house at Delaware and sub-stations to supply electricty for power
and heat.
Interest. Outstanding. Maturity.
Date.
BON 1)5$285,000 Sept. 1 1934
5 g M-S
1st mortgage, $300,000 gold) 1004
c Int. at Standard Trust Co., N. Y., Trustee.
($1,000)
Hane; Treas., James
B.
Henry
Sec.,
Webb;
G.
John
OFFICERS.-Pres.,
S. Webb.
(3) Marion Railway Light & Power Co.ORGANIZATION.-Incorporated in Ohio on June 24 1903 and is a consolidation of the Marion Street Railway Co. and the Marion Electric Light
& Power Co.
Interest, Outstanding. Maturity.
Date.
BONDS$300,000 July 1 1924
5 g J-J
1st mortg., gold ($1,000)_c* f 1904
1. Int. at Standard Trust Co., N. Y., Trustee.
Bonds.-No sinking fund and bonds cannot be called.
ROAD.-10 miles of track In Marion Standard gauge. 60 and 80-lb.
rail.
OFFICERS.-Pres., John G. Webb; Sec., Geo, Whysall; Treas., Jas. S.
Webb.-V. 77, p. 89.
(4) Columbus Marion & Bucyrus RR. Co.ORGANIZATION.-Incornorated in Ohio on July 29 1905 to build from
Marion to Bucyrus, Ohio, 22 miles. Put in operation in July 1908. 70-lb.
'T rail.
sTocK AND BONDS- Date. Interest. Outstwiding. Maturity.
$500,000
Stock $500,000
Sept 1 1933
500,000
5 g A-0
First mortgage $500,000 ($1,-1 1905
000) gold
j Interest at Cincinnati Trust Co., Trustee.
BONDS -Sinking fund of $5,000 per annumbegIns Sept. 1 1910. Guaranted principal and interest by Columbus Delaware & Marion Ry.
OFFICERS.-Pres., J. G. Webb; V.-P. Geo. H. Holzbog; See., H. B.
Hane; Treas., J. S. Webb.
(5) Marion & Western Railway Light & Power Co.
ORGANIZATION.-Incorporated in Ohio on Sept. 26 1908 to purchase
the Prospect Electric Light Co. and to build from Prospect to RIchwood,
Ohio, 7 miles. Road is under construction.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
5200,000
Stock 5200,000
200,000
1936
5 g A-0
1st mortgage $200,000 gold) 1906
Mate est at Cincinnati Trust Co., Trustee.
($500)
Bonds.-Subject to call after 1912 at 110. Sinking fund of $5,000 per
annum after 1012.
OFFICERS.-Pres., N. J. Catrow; V.-P., J. G. Webb; Treas., G. H.
Holzbog; Sec., J. S. Webb.
(6) Marion & Suburban Railway Co.ORGANIZATION.-Incorporated in Ohio Sept. 25 1906 to build the
necessary extensions of trackage to the local Marion City lines demanded
by the city of Marion. Under construction.
Maturity
Interest. Outstanding.
sroc it AND BONDS- Date.
$260,000
Stock 5250,000
1936
5 g A-0250,000
1st mortgage $250,000 gold 1906
($500)
JInterest at Cincinnati Trust Co., Trustee.
Bonds.-Subject to call after 1912 at 110. Sinking fund of $5,000 per
annum after 1912.
OFFICERS.-Pres. Geo. H. Holzbog; V.-P., J. G. Webb; Treas., N. J.
Catrow; Sec., H. B. dam.
COLUMBUS NEW ALBANY & JOHNSTOWN TRACTION CO.-A
rolley road.
0r.GANIZATION.-Incorporated in Ohio on May 4 1809. In May 1905
cancPled old mortgage for $200,000 and made the new mortgage in table
be' W. V. 80, p. 2399. Franchises are for 25 years. Bonds were offered
In 1906 at 85, with a bonus of 50% in common stock. V. 82, p. 1211.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$400,000
Corn.,$400,000 (5100)
200,000
Pref. (6% cum.), $200,000)
•
($100)
5 g J-J
See text. Jan. 1 1925
1st mtge. $450,000 gold( 1905
Int. at Columbus Say. & Trust Co.. Trustee,
' $1,000)
($500 arid
( or its agency in New York.
Entire issues of stock are held by four stockholders.
Bonds.-$50.000 is reserved for prior liens and $400,000 are held in treas.
to provide for extensions. See V. 82, p. 1211.
REPORT.-For calendar year 1907: Gross, $59.499; net after taxes and
terminal charges, $14,437. For 1906: Gross, $52,581; net, after taxes,
and terminal charges. 515.058.
ROAD.-Operates 8.8 miles of track from Columbus to Gahanna, including perpetual lease of 23,6 miles of tracks of the Columbus Ry, as terminal;
gauge, 5 ft. 235 in.; 65-1b. T-rail. An extension of 173 miles to New
Albany and Johnstown over private right of way to be built.
OFFICERS.-Pres., Wm.D. Brickell; V.-P. Daniel J. Ryan; Sec.-Treas.,
and Gen. Man., L. P. Stephens.-V. 82, p. 1211.
1908 authorizing $500,000 new 5% first preferred stock, which ranks
ahead of present preferred stock (V.87, p. 481 and 815). the present issue
to be $300,000.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
$1,800,000
Corn., $1,800,000 ($100)
1st pref, $500,000, 5% cum
300,000
1,200,000 Apr'08,1 X
)
Pref., 51,200,000 5% cum.
Q-J
(5100)
1st mtg, $4,000,000, gold( 1908
1,800,000 Sept 1 1923
5 M-S
co lint. at Harris Tr. & Say. 13k., Chic.,Trustee.
($1,000)
Bonds.-The remaining $2,400,000 of 1st mtge. bonds can only be issued
for 75% of cash expenditures, and for permanent extensions and additions
to property, and only when net earnings are twice the interest charge on
outstanding bonds and those to be Issued. Bonds have a sinking fund of
1% per annum on bonds out 1913 to 1917, thereafter 2% per annum.
They are not subject to call. See particulars, bonds, property, &c., In
V. 87, p. 879.
Dividends.-Dividends on old issue of pref. stock were to accrue from
Oct. 1 1905, but amounts due Jan. 1 1906 and April 1 1006 were relinquished
by shareholders, and 1st div. (1 X %) was paid July 1906 and 1 X% Oct.
1906. V. 82, p. 1440. In 1907, 5%. In 1008, Jan., 1 X %, April, 1 %.
EARNINGS.-For 12 months ending July 31 1908, gross, $367,980:
net (after taxes), $161,453.
ROAD.-Operates 72 miles of track from Columbus to Lancaster and
from Columbus to Chillicothe. Is operated by third-rail system. Standard
gauge, 70-lb. T rail. Within city limits of Columbus company operates over
tracks of Columbus Railway & Light Co. under operating agreement.
'OFFICERS.-Pres. and Mgr., Frank A. Davis; V.-P., W. S. Courtright;
Sec. and Treas., Edwin R. Sharp; Supt., C. Skinner.-V. 81, p. 32, 778,
1551, 1661; V. 82, p. 101, 1158, 1440: V. 87, p. 481, 615, 679.
CONCORD, N. H.
CONCORD STREET RAILWAY.-A trolley road extending from the
central wards of Concord to Penacook. Comprises 12.71 miles of track.
In June 1901 control passed to the Boston & Maine RR., and in 1903 the
New Hampshire Legislature authorized the Concord & Montreal RR..
which is leased to the Boston & Maine, to purchase the property and to
issue stock and bonds to pay therefor.
CONCORD, MASS.
CONCORD MAYNARD & HUDSON STREET RY.-A trolley road.
ORGANIZATION.-OrganIzed in Massachusetts March 27 1901. Ac
quire,' Concord & Clinton Street Ry. Feb. 1 1902. In Jan. 1908 RR. Commission authorized an increase In stock from $175,000 to $200,000, Issue
price to be $100 per share. Franchises perpetual.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$200,000
Stock,$200,000 ($100)July 1922
200,000
5 g J-J
1st mortgage, 5200,000. gold) 1902
c&rf Interest at American Trust Co., Bos., Trus.
($1,000)
38,800
"Current liabilities" Sept. 1 1908
ROAD.-Operates 15 miles of track between Concord, Stow. Maynard
and Hudson; 7 open and 9 closed cars, 2 snow plows and 1 construction car.
HARNINGS.-For year ending Sept. 30 1907, gross, $59,982: net,
$23.950: i)sed charges, 516,516; surplus, $7,424.
OFFICERS.-Pres., Chas. H. Persons; Sec. and Treas., John W. Ogden.-V. 75, p. 184, 611; V. 85, p. 1338; V. 86, p. 1159; V. 87. p. 96.
CONNEA1JT, OHIO.
CONNEAUT & ERIE TRACTION CO.-Trolley.
Iteceivership.-On Sept. 5 1907 Robert M. Watson of Harrisburg, Pa.,
was appointed receiver for the company on application of the creditors.
V. 85, p. 599.
ORGANIZATION.-Incorporated in Pennsylvania In 1901. Owns all
the stock and bonds and leases the Conneaut & Erie Traction Co. of Ohio.
which owns 1.99 miles of track. Franchises are for 999 years
Interest. Outstanding. Maturity.
STOCK AND BONDSDate.
$800,000
Stock, $800,000 (550)_
379,500 May 1 1924
5 g M-N
Ref mtge, $1,250,000 ($500) 1904
and $1 000), gold
c&rJ Int. at Fidelity Trust Co., Philadelphia,Trus.
800,000 Sept 1 1922
5 g M-S
1st mtge, $800,000, g ($5001 1902
c&r Int. at Fidelity Trust Co., Philadelphia,Trus.
and $1,000)
Bonds.-Of the $1,250,000 refunding bonds, $800,000 are reserved to
retire prior liens, and remainder for improvements and extensions. The
new refunding bonds are subject to call at any time at 110 and interest. A
sinking fund of 1 % per annum for 5 years becomes operative on May 1 1909;
for following 5 years, beginning 1914, 2%; and for following 5 years, beginning 1919, 3% per annum of outstanding bonds. The 1st mortgage bonds
are subject to call at any time at 110 on three months' notice.
ROAD.-Operates 35 miles of track from Conneaut, Ohio, to Erie, Pa.,
mostly on private right of way. Standard gauge, 60-1b. T rails. Enters
Brie over tracks of the Brie Electric Motor Co.
OFFICERS.-Pres., C. E. Flynn; V.-P., John S.Rilling; Sec. and Treas.,
.1. M. Smith; Supt., R. W. Palmer. Central station and genetal offices,
Elk Station, Erie County, Pa.-V.79, p. 680; V. 85, p. 599, 921.
CORNING, N. Y.
CORNING & PAINTED POST STREET RY.-A trolley road.
ORGANIZATION.-Incorporated Dec. 11 1894. Commenced Nov. 1
1895. Control changed hands in 1904. V. 80, p. 162.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$100,000 1905-06,4%
Stock,$1 0,000 (5100)100,000 Jan 11915
5 J-J
{
1st mortgage, $100,0001806
Interest at Beacon Trust Co., Boston.
EARNINGS.-For year ending June 30 1908, gross, $54,310: net, $16,922; int. and taxes, $9,075; m ovem n 4. 55,638; surplus, 52.209.
ROAD.-Owns 5.9 miles of track, from Corning to Painted Post. 14 cars.
OFFICERS.-Pres., J. L. Greatsinger, Brooklyn, N. Y.: V.-P., Craig
Graves, New York; Sec., K. V. Dougherty, New York: Treas.. B. A.
Van Tassel' Jr., New York; Compt., F. C. Ramsen, New York.-V.80.P•162
CORTLAND, N. Y.
CORTLAND COUNTY TRACTION.-Trolley.
ORGANIZATION.-Is a reorganization on June 22 1001 of the Cortland
& Homer Traction, sold at foreclosure on April 23 1901. In June 1905 absorbed the Cortland & Homer Electric Co., previously controlled. Furnishes 150 arc lights to the cities of Homer and Cortland and also lamps to
the public. Carries coal and freight as well as passengers. In May 1907
was granted permission to increase the capital stock from $320,000 to 51,000,000 and to issue a new 1st and refunding mortgage of $2,000,000 for
the purpose of retiring all outstanding Indebtedness and for extensions
June 1908. Bonds a, t issu
and equipment up
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$320,000
_____ - Stk., common,$320,000 ($100)
180,000 April 1 1920
4 g A-0
1901
First mortgage, $180,000 County Say. Bk. & Tr. Co., Scranton, Pa.,Tr.
c* Interest at company's office. No sinking Id.
($500) gold
Can be called on 6 months' notice.
320,000 Aug 1 1935
5 e F-A
New mortgage, $500,000, g' 1905
cl Interest at Empire Trust Co., N. Y.,Trustee.
($500 and 51,000)
Bonds.-Of the $500,000 issue of 1905, 5180,000 are reserved to retire
prior liens. They are subject to call after Aug. 1 1910 at 105.
ROAD.-Operates 17.18 miles of track between Cortland, Homer, Little
York and Preble, and between Cortland and MeGrawville; 30 cars.
EARNINGS.-For liscal year ending June 30 1907, gross, $71,019: net,
$27,395; other Inc., $856; total net income, 528,061* chrrges, $17,844;
surplus. 510,417.
OFFICERS.-Pres., D. IV. Van Hoesen: V.-P., Edw. H. Brewet; Sec.,
G. H. Garrison; Treas. and Gen. Mar.. Edwin Duffey.-V. 81, p. 07.
COVINGTON, KY.
CINCINNATI NEWPORT & COVINGTON LIGHT & TRACTION CO.
A trolley road.
Lease.-Was leased from April 1 1907 to the Columbia Gas & Electric Co.
(incorporated in Ohio) for 45 years. The lessee guarantees interest on
bonds and 4 X % per annum on preferred stock. On common dividends are
SCIOTO VALLEY TRACTION CO.-ThIrd rail.
% each year until 6% is reached, which
ORGANIZATION.-Incorporated in Ohio, with a perpetual charter, In to be 3% for first year, increasing
1904. Built on private right of way. Franchises extend beyond maturity Is to be the rate thereafter. First dividend on common.% %,July 15 1907.
of 1st mtge. bonds. In 1908 canceled $2,000,000 mtge. of 1903 and made See V. 84, p. 449, 730; also terms in V. 84, p. 1489, under Columbia Gas
new mtge. for $4,000,000, which see below. Stockholders voted Sept 22 & Electric.
36
[VOL. Lxxxvii.
ELECTRIC RAILWAYS
ORGANIZATION.-Incorporated under the laws of New Jersey on
March 11 1902 and purchased all the stock of the Union Light, Heat &
Power Co. of Covington and of the Cincinnati Newport & Covington Railway.
V. 74, p. 576. The latter was organized in 1892 to buy up and consolidate
all the roads on the Kentucky side of the river opposite Cincinnati.
The Cincinnati Covington & Erlanger Street By. (providing for an extension to Erlanger, 734 miles). incorporated Sept. 1899 with $250,000 stock
(shares, $50), is controlled and is being built out of proceeds of sale of the
pref. stock of the new company. About 3 miles have been completed.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$5,000,000 July 15'08.%
Corn. $5,000,000 ($100)------ ---Q-J
Pref. 43i % non-cum, $5.-}
434 Q-J
000,000 ($100)
4,500,000.1..1y15'08,1
Underlying Bonds6 M-S
250,000 March 1912
So Coy & Cin 1st mortgage 1882
W. A. Goodman, Trustee.
($1,000)
6 g J-J
150,000 Jan 1 1932
2d consol mtge, $500,000, g 1892
Covington Say. Bk. & Tr. Co., Trustee.
($500-$1,000)
6 F-A
Newp & Day St By 1st M____ 1887
100,000 Aug 1 1917
Cincinnati Newport & Covington5 g J-J
1st consol mtge, gold, $3,- 1892
$2,500,000 July 1 1922
c*ecr Farmers' Loan & Trust Co. of N. Y., Trust'e
000,000 ($1,000)
5 g J-J
2d mortgage, $1,000,000, g, 1896
600,000 July 1 1912
c Farmers' Loan ea Trust Co., N. Y. Trintee.
($1,000 each)
Union Light, Heat & Power Co.
1901
4 g M-N
$1,500,000 May 1 1918
1st mtge, $2,000,000, goldIInt. at Nat. Bank of Commerce, N. Y.; First
Natulo
on
($100,$500 and $1,000)c&r
nal Ban
nk
k,. Cincinnati, orDecorat Gler1m9a1n2
6 g JD
Bellevue Water F & G L Co) ____
mtge. $100,000 ($1,000)_c*JInt. at German Nat, Bank. Covington, Ky.
Bonds.-01 the first consolidated bonds of 1892 of the C. N. & C. Ry.,
$500,000 are deposited with the trustee to retire all the underlying mortgage
bonds. The perpetual charters of constituent companies are kept alive,
and their capital stocks are deposited with the trustee as collateral for the
first consols. Interest on those bonds is payable at the National Bank of
Commerce, New York, First National Bank, Cincinnati, and German National Bank, Covington. The Union Light, Heat & Power Co. bonds can be
called after May 1 1906 at 110 and interest. Of these,$500,000 are available
for improvements, additions or purchase of other companies at par for
actual cost.
DIVIDENDS.-On preferred 434% is being paid. On common stock
first dividend of 34% was paid July 15 1907 and 4% Oct. 15 1907. In
1908, Jan., 4%; Apr., 34%; July. 34%.
ROAD.-Connects Cincinnati, Newport, Covington, Dayton, Bellevue,
Ludlow, Bromley and Fort Thomas. Total in operation, 60 miles; laid
with 80 lb. Johnston girder and 72.1b. "T" rails.
EARNINGS.-For 12 mos. ending Oct. 31 1905, gross, $1,406,295; net
after taxes. $617,637; int.. $251,000; dividends. $187,200;surplus,$170,437.
OFFICERS.-Pres., James C. Ernst; V.-P.. James M. Hutton; Sec.,
C. M. Thurnauer; Treas., George M. Abbott; Supt., Thomas Green.-V.83
p. 1228; V. 84, p. 449, 930, 1366, 1488.
CUMBERLAND, MD,
CUMBERLAND
& WESTERNPORT ELECTRIC RV.-A
It has oeen reported that this company woulu be
trolley road.
consolidated wth the
Westernport & Lonaconing Ry.
ORGANIZATION.-Organized in Maryland on April 11 1902,by special
Act of the Legislature, as successor to the Frostburg Eckhart & Cumberland
By. Has absorbed the Lonaconing Midland & Frostburg By,
Interest. Outstanding. Maturity.
STOCK AND BONDSDate.
Stock $1,000,000 ($50)$398,100 Sept.'03,3%
Frost Eck & Cumb first mtge
__c*I 1901 5 g J-D 15
230,000 June 1926
$250,000 g($500&$1,000)c* Int. at Real Estate Trust Co.,Phila.,Trust.
Lonac Mid & Frost first mtge 1901 5 g J-D 15
200,000 June 1926
Real
Estate Trust Co., Phila., Trust.
Int. at
$200,000 gold ($1,000)
Bonds.-No sinking fund, but bonds can be called after June 15 1910 at
105.
Dividends.-A dividend of 3% was paid in Sept. 1903.
ROAD.-Operates 20 miles of track between Cumberland and Lonaconing: 60, 75 and 92-lb. T and girder rail; standard gauge.
OFFICERS.-Pres., De Warren H. Reynolds, Cumberland; Sec. and
Treas., D. Percy Hartzell, Cumberland; Supt., J. E. Taylor, Frostburg.
DALLAS, TEXAS.
DALLAS ELECTRIC CORPORATION -Trolley.
ORGANIZATION.-Incorporated in New Jersey in 1902. Does an
electric railway and electric lighting business in Dallas by virtue of the
ownership r securities of eel tam it local c Anpanles. Franchises of subsidiary
companies expire 1922. See V. 84, p. 157.
Date,
Interest. Outstanding. Maturity.
STOCK AND BONDSCommon $3,000,000 ($100)_
$3,000,000
A-0
2.000,000 Apr '07, 234
Pref $2,000,000 5% n-c ($100) ____
5 g A-0
First collat trust mtge $4,000,1 1902
3,836,000 April 1 1922
000. gold ($100, $1,000) _c*IInterest at City Trust Co., Boston, Trustee.
Bonds.-A sinking fund of 1 % per annum of outstanding bonds, If earned,
commencing Oct. 1 1904, is provided; after Oct. 1 1905 becomes a fixed
charge. Jan. 1 1908 $132,000 were held in sinking fund. Bonds can be
called as a whole on any Interest date beginning Oct. 1 1904 at 105 and
interest. $25,000 of the bonds are in denomination of $100, balance being
$1,000 each.
Dividends.-On pref. stock in 1905, 234%; in 1906, 5%; in 1907, Apr.
23i %, and none since.
EARNINGS.-For 12 months ending Dec. 31 1907, gross, $1,125,673;
net, $307,571; Interest, $223,108; surplus. $84,463; sinking fund, $40,433;
dividends, $50,000; balance, deficit, $5,970.
ROAD.-Owns and operates 59 miles of track in the city of Dallas and
suburbs. Rails, 45 to 91 lbs. 169 cars. Standard gauge.
OFFICERS.-Pres., Guy E. Tripp; V.-Pres., Robert T. Paine; Treas.,
Henry B. Sawyer; Sec., Alvah K. Todd. Stone & Webster, Boston, Auditors and Transfer Agents.-V. 83, p. 323; V. 84, p. 157.
TEXAS TRACTION CO.
-A trolley road.
ORGANIZATION.-Incorporated In Texas in 1906. Franchises run
for 50 year. on treet and highway ; re t of road built on private right of
way.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Common $2,000,000 ($100)
$2,000,000
Frei $1,000,000 6%cum ($100)
1,000,000
First mtge sinking fund $3,-1 1907
5 g J J-J
2,000,000 Jan. 1 193'7
000,000 ($1,000) g_ __c*&rlInt. at Old Colony Trust Co., Boston, Trust.
Bonds.-01 the $3,000,000 new mortgage $1,000,000 is reserved for future
improvements and extensions. Bonds can be called at 110 and accrued
interest on any interest date upon 30 days' notice. A sinking fund of 5%
of gross earnings, beginning July 1 1912, to be used in the purchase of bonds.
ROAD.-Operates an Interurban line between Dalla and Sherman,
86 miles. Enters Dallas over track of Dallas Electric Street By. Entire
road was put in operation July 1 1908.
OFFWERS.-Pres., J. F. Strickland; Sec., James P. Griffin; Treas.,
0. Goodwin: Gen. Mar- Theodore Stebbins. Office. Dallas, Texas.-V.
84, p. 627; V. 87, p. 98.
DANBURY, CONN.
DANBURY & BETHEL STREET RY.
ORGANIZATION.-Incorporated May 7 1886 under the laws of Connecticut. Has a perpetual special charter, the only street car company
serving the city of Danbury and town of Bethel. Its lines also extend to
the Danbury Fair Grounds and the pleasure resort of Lake Kenosia, In
May 1903 the State Legislature authorized an increase of $300,000 of capital
stock to provide for extensions.
Interest. Outstanding. Last div.,&c.
Date,
STOCK AND BONDSSemi-ann. $320,000 July '08,2%
Stock $623,000 (par $25)----1894
5 g M-N
200,000 May 1 1914
First mtge $200,000 gold
5 g M-N
Consol mtge $300,000 gold{ 1906
100,000 May 1 1936
Int. at American Trust Co.• Boston, Trustee.
($500 and $1,000).
Debenture bonds 1/5555 t 11)08
6 Al-S
75%Uuo Awn 1 1518
($1,000 and $500)
cf
Bonds.-Of the $300,000 consol. mortgage, $200,000 is reserved to retire
the 5s due 1914. The debentures are redeemable at 105 on any interest
date after due notice. No further mtge. can be made on property without
Including these debentures.
Dividends.-In 1896-97, 4 %; in 1897-98. 4%; in 1898-99, 2%; in 189919 • 34%; in 1900-01, 134%; in 1901-02, 3%; in 1902-03, 3%: in
1903-04, 13i %;in 1907, Jan., 2%; July, 2%; in 1908, Jan., 2%; July, 2%.
itOAD.-Trolley road in Danbury, and from Danbury to Bethel, and to
Lake Kenosia, 13.91 miles in all; sidings, &c., .969 miles; total, 14.879
miles. 44 cats.
REPORT.-For year ending June 30:
Int. & Taxes. Divs. Bal. Sur.
Gross.
Net.
f3,924
1906-07
$12,800
$16,146
_$113,201
$32,870
17,244
1905-06
None.
101,563
16,074
33,318
None. Sur.10,541
1904-05
14,409
02,747
24,950
Def. 376
1903-04
$4,800
..... 86 566
14,544
18,968
OFFICERS.-Pres., Samuel C. Holley, Danbury; V.-P., S. Harrison
Wagner, New Haven; Sec. and Treas.. M. H. Grilling, Danbury.-V.83,
p.
V. 86, p. 1150.
su;
DANBURY & HARLEM TRACTION CO -A trolley road.
Receivership.-On June 2 19o8 three PhIladeinhia banks am-flied for a
receiver. Interest Is in default. V. 86, p. 1409. A judgment of foreclo•ure was applied for(n July 11 1908 in the Superior Court at Bridgeport
by Knickerbocker Trust Co., New York. V. 87, p. 266.
ORGANIZATION.-Incorporated in New York on Sept. 14 1901.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock $500,000 ($100)$300,000
First mortgage $500,000 gold' 1903
5 g J-D
380.000 June 1 1933
cl Knickerbocker Trust Co., New York, Trust.
($1,000)
BONDS.-Are not subject to call.
ROAD.-Has under construction 19 miles of track from Danbury, Conn..
to Golden's Bridge, N. Y. About 6 miles of track has been completed
70-lb. rails.
OFFICERS.-Pres.. D. E. Loewe: Sec.. W. H. Cable; Treas., J. A•
Serre. V. 83, p. 36, 818; V. 86, p. 1409; V. 87, p. 226.
DANVILLE ILL.
ILLINOIS TRACTION CO.ORGANIZATION.-Incorporated in Maine on May 13 1904 and owns
all toe capital stow( of toe Danvine btreet sty. ‘z Lignt CO., tile Danville
Urbana & Champaign Ry., the Urbana & Champaign Ry. Gas & Elec. Co.,
the St. Louis Decatur & Champaign Ry., the Decatur By. & Light Co.,
the Jacksonville By. & Light Co., the St Louis & Northeastern By., the
Chicago Bloomington & Decatur Ry., the Bloomington & Normal Rv. & Lt.
Co.,the Peoria Railway Co.. the Peoria Bloomington & Champaign Traction
Co., the St. Louis & Springfield Railway. the Illinois Central Traction
Co.,Madison County Light & Power Co., the St. Louis & Staunton By. Co.,
the Citizens' Ry. Co. of Venice, the Trl-City Traction, St. Louis Electric
Bridge Co., the Springfield Belt By. Co.. the Danville & Eastern Illinois
By. Co., the Urbana Light. Heat & Power Co., the Illinois Western Sty.
Co.. the St. Louis Electric Terminal Co. and the Peoria Lincoln & Springfield By.; also owns nine-tenths of the stock of the Springfield & Northeastern Traction Co. In April 1007 obtained a 50-year franchise on ee,tamn
streets of St. Louts and was also given authority bv the U.S. Government to
build a bridge across the Mls.I sippi River to Venice, Ill. Has contract
with United States Express Co. to transport its bu.Iness for two years,
starting with April 1 1908, on a percentage ha 13.
Date.
Last Div.
STOCK AND BONDSInterest. Outstanding.
Common $7,000,000 ($100).
$6,504,500
Pref6% cum $4,000,000 ($100) ____
3,618,600 See text.
Q-J
Stock.-Additlonal preferred stock can only be issued when net earnings
are equal to 9% on preferred stock out and the amount proposed to be
Issued. Preferred stock is listed on Montreal Stock Exchange.
Dividends.-6% per annum is being paid on the preferred stock.
REPORT.-For calendar year 1907 report was given in full In V. 87
p. 341. Pa sengers carried in 1907 by Interurban line;, 8,182,069; by city
line , 26,276,640. The propertie doing a lighting bu • nes:. were on Dec. 31
1907 ,upplyIng 169,310 Incande cent, 2,823 arc and 907 Nern t lamps.
Gross Earnings1905.
1908.
1907.
Interurban
$611,981
$1,610,257 $1,008,134
Local street railway
1,066,796
1,151,487
1,226,591
Ga.
218,063
240,744
259,572
Electric light and power
445,079
497,666
542,032
Steam heating
100,470
115,076
127,453
cellaneous
Mi
13,282
Total gro-s earnings
Operating expen e. _
Taxes
Total operating expenses
$3,779,187
$2,065,424
63,063
_
$2,128,487
$3,013,107
$1,602,601
48,554
$2,442,389
$1,257,112
37,540
$1,651,155
$1,294,652
Net earnings
$1,650,699 $1,361,052 $1,147,737
Interest, &c., for 1907 amounted to $985,631, and dividend, on pref.
stock $201,953, leaving a surplus for that year of $463,115.
ROAD.-The interurban line s compri e 419.2 miles of track (of which
19.2 miles I; lea ed) and 26.06 miles of switches, second track and turnout,
:
city lines compri e 114.93 miles of track. Total of all lines, 560.19 miles.
Interurban lines have 79 motor pa,senger, 18 motor express, 47 train and
400 gondola flat and box cars; city line; have 210 motor cars and 149 others.
40 generators, located at 9 different points, have a capacity of 20,650 kilowatts.
OFFICERS.-Pre3., W. B. McKinley, Champaign; Sec., T. B. Macauley,
Montrer I; Treas., Geo, M. Mattis, Champaign; V.-P. and Gen. Mgr., L. E.
Fl,cher, Danville; Compt., E. W. Hendershot.-V. 85, p. 99, 722; V.87,
p.341, 614.
LOCAL STREET RAILWA1 S.
(1) Bloomington & Normal Railway & Light Co.
ORGANIZATION.-Incorporated in Illinois on Feb. 23 1006 as a consolidation of the Bloomington & Normal Ry., Electric & Heating Co. and
the Consumers' Light & Heating Co. of Bloomington.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock, $1,000,000 ($100)
$1.000,000
1st and ref mtge, $2,000,000, 1906
5 g A-0
679,000 May 1 1936
gold ($1,000)
c Central Trust Co., Chicago, Trustee.
5 g J-D
590,000 June 1 1927
B Fe N B H do H 1st mtge, 1902
$600.000 ($1,000) g, s Lc'jInt. at Ill. Tr. & Say. Bk., Chicago, Trustee.
Bonds.-Of the $2,000,000 new bonds. $600.000 are reserved for prior
Liens and $721.000 for extensions. Are guar., p. and I., by Ill. Trac. Co.
Int. at Agency of Merchants Bank of Canada. New York. No sink.
fund, but bonds can be called at 105 on any int. date. The By., Elec. &
Heating Co. bonds are subject to call at 110 and int. Sink. fd., $10,000 an0
a,. y
(.1 •",
ROAD.-Operates17 42 miles of track in, around and between Bloomington and Normal. Rails 45, 60 and 70 lbs. Has 18 motor cars and 6
trailers.
(2) Citizens Railway Co. of Venice.
Owns 4.88 miles of street railway in Madison, Granite City and Venice.
Has 6 motor cars. All stock owned by Illinois Traction CO. $400,000
temporary bonds Issued.
(3) Danville Street Railway & LightORGANIZATION.-Incorporated in Dec. 1899 as a consolidation of all
the street railway, electric light, gas and steam-heating interests. Entire
stock is owned by Illinois Traction Co.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
$6,3,000
Stock $700,000 ($100)------700,000 Jan 1 '10-'25
Refunding mortgage $700,0001 1900
5 g .T-J
gold ($1,000)
c*lInt. at N. W. Harris & Co.. N. Y. and Chle.
Bonds.-The bonds are due £6,000 annually Jan. 1 1910 to 1924 inclusive.
and remainder on Jan. 11925; 49 n90 of old prior lien Danville Gas, Electric
Light & Street By.6% and $1- ..0) Danville & Northern 5% bonds are still
out. Sinking fund of $6,000 t, , year begins Jan. 1 1910, bonds being
drawn (at par and accrued inf....mit) in numerical order, beginning with
number one; mortgage trustee ir ts.e Illinois Trust & Savings Bank, Chicago.
N.W.Harris & Co. offered the
for sale in Jan. 1900. See V.70, p. 125.
SEPT 1908.]
ELECTRIC RAILWAYS
COMPANY'S PROPERTY.-The company owns the following: 1. Gas
works operated under special charter and a perpetual franchise. 2. An
electric-light plant I ;operated under a 99-year franchl e, and was furnishing,
Dec. 31 1907, 65,000 incandeicent and 1,165 arc light; also has dynamos
for furnishing power to street railway. 3. The entire street railway system of the city, 16.37 miles of track, nearly all laid in brick pavement,
running to three parks, the fair grounds, cemetery and railway depots and
National Soldiers' Home. Equipped with 50,60 and 70-lb. Johnson 'I' rails,
with 26 motor cars (General Electric) and 12 others.
OFFICERS.-Same as those for Danville Urbana & Champaign Railway
Co.-V. 76, p. 1142, 1300.
•
(4) Decatur Railway 6: Light Co.ORGANIZATION.-Incorporated in Illinois in Dec. 1903 to take over
the property of the Decatur Traction ec Electric Co.. the Decatur Gas &
Electric Co. and the Decatur Steam Heating Co., owning all the street railway, gas and electric lighting business and steam-heating plant in Decatur
and suburbs.
STOCK AND BONDSDate.
Interest. Outstanding. maturity.
Stock $1,300,000 ($100)
$1,300,000
Decatur Gas & Electric CoJ 1899
5 M-N
300.000 May 15 1929
first mortgage
Int. at Merch. L. 6: Tr, Co., Chic., Trustee.
Decatur Gas & Elec Co 2d MJ 1899
5 M-N
90,000 May 1 1930
$400,000($300.000 reserved }Interest at Merchants' Loan & Trust Co..
for above)
J Chicago, Trustee.
Dec Trac & Elec 1st M $250,- 1900
5 J-J
212,000 Jan. 1 1920
000 ($500& $1,000 each).c* Int. at Illinois Tr. & Say. Bk., Chic., Trustee.
Dec Ry & Lt Co 1st & cons M 1903
9.
3y
3
5 g J-D
6T
9r
8.
,.00
630agDeencc. lin1N
$1,300,000 gold ($1,000).c* Int. City Tr. Co., Bost.,
y
Bonds.-$604,uou Decatur Hallway.Llgnt Company bonus are reserved to retire an equal amount of prior liens as above
A sinking
fund of 10% of the net earnings, or not less than 1% of outstanding
bonds, is to be invested in the bonds. These bonds are subject to call at
105 and int. on any interest date upon 6 mos. notice. Of the Decatur
Gas Electric Co. first mtge. bonds, $15,000 must be redeemed on May 15
1910 at 105 and a like amount each year thereafter in numerical order.
These bonds are subject to calY in 1909 at 105 and interest. The second
mtge. bonds of the Decatur Gas & Electric Co. are redeemable at any time
after May 15 1909 at 105 and interest, but there is no sinking fund on
these bonds.
It EPuttT.-Calendar year 1907, gross, $341,770; net, $153,168. Iii
1906 nross. $312,104; net. $135,686.
ROAD.-Operates 10.85 miles standard-gauge road in Decatur and
suburbs;60 and 72-1b. Trails. 23 motor cars and 16 others.-V.78, p. 1961
(5) Jacksonville R.& Light Co.
ORGANIZATION.-Incorporated in Maine in Dec. 1905 and is a con-.
solidation of the Jacksonville Ry. Co. and the Jacksonville Gas Light &
Coke Co. Franchise perpetual.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$100,000
Stock, $500,000 ($100) _
5 g J-J
420,000 Jan 1 1931
Jack Ry & Lt 1st con mtge, 1906
$1,000,000,gu, g ($1,000)0 Central Trust Co., Chicago, Trustee.
_
5 J-J
175,000 Jan 1 1931
Jacksonv Gas Light & Coke
Int. at Merchants
'Loan & Tr. Co., Chicago.
Co 1st mtge
6 J-J
34,000 Jan 1 1912
Jacksonv Ry 1st mtge, $75,- 1892
St. Louis-Union Trust Co., Trustee.
,
Bonds.-Of the $1,000,000 1st consols, $209,000 are reserved for prior
liens. Are guar., p. and I., by Ill. Trac. Co. Two per cent of bonds out is
payable annually to a sinking fund. Are subject to call on any int. date
at 105. Int. payable at Merchants' Bank of Canada. New York.
ROAD.-Operatesabout 7.65 miles of track and also does electric lighting
and gas business in Jacksonville. 14 motor cars and 9 others.
(6) Peoria Railway Co.-A trolley road.
ORGANIZATION.-Incorporated under general railroad laws of Illinois
In 1906. and is successor to the Central Ry. Co. Franchise in Peoria expires
in 1926. Entire stock is owned by the Illinois Traction Co.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock, $1,000,000 _
$1,000,000
1st and ref mtge, $3,600,0001 1906
5 g F-A
2,705.000
See text.
V' Interest at Agency of Merchants' Bank of
gold ($1,000)
Canada; and New York.
Cen Ry 1st mtge, $750,000,1 1895
5 g A-0
570,000 April 1 1915
gold ($1,000)
cs jInterest at N Y. Trust Co., N. Y., Trustee.
Bonds.-01 the $3,600,000 new bonds, 1570,000 are reserved for prior
liens and $280,000 for Ditty*, betterments
$4,5 0,, . "'aye been rek red
They are guaranteed, principal and Interest, by endorsement, by the
Illinois Trac.Co. The trustee is the Chicago Title & Trust Co. The bonds
expire on Feb. 1 as follows: $25.000 in 1908; $30,000 in 1909; $35,000 in
1910; $55,000 in 1911; $60,000 in 1912; $65,000 in 1913; $70,000 in 1914:
$75,000 in 1915; $80,000 in 1916; $85,000 in 1917; $95,000 in 1918; $100,000
in 1919; $105,000 in 1920; $110.000 in 1921; $115,000 in 1922; $120,000 in
1923; $125,000 in 1924; $130,000 in 1925; and the remaining $1,250,000 in
1926. They are subject to call on any interest date at 105 and interest.
See V. 83, p. 38, 436.
EARNINGS.--For calendar year 1907, gross, $571,399; operating expenses and taxes, $277,593; net, $293,806.
ROAD.-Operates 49.76 miles of track, of which 15 miles are double
track. Has 108 motors and 98 trailers. V. 87, p. 37.
(7) Urbana & Champaign Railway. Gas & Electric Co.
ORGANIZATION.-A consolidation in 1897 of Urbana & Champaign
Electric Street., Champaign Electric Light & Power, Champaign & Urbana
Gas Light & Coke and West End Park companies. Owns perpetual gas
and steam charter. The underlying railroad charter is also perpetual.
Franchise in 1901 extended for 20 years.
Interest. Outstanding. Maturity.
STOCK AND BONDSDate.
Stock $500,000
$500,000
U & C Ry, G & EM $250,000} 1897
5 g J-D
1'8,000 June 1 1917
gold sink fund $8,000 yrly Int. at Illinois Tr. & Say. Bank,Chic., Trus.,
June 1 1900& aft($1,000)c*
oral Chase National Bank, New York City.
Consolidated mortgage 15004 1899
5 g J-J
322.000 July 1 1929
000 ($1,000) gold
cl Int. Portland Tr. Co., Portland, Me., Trust.
Bonds.-Of the new issue of $500,000, sufficient are reserved to retire first
mortgage bonds. The bonds are subject to call on any interest date at 105.
ROAD.-Operates8 miles of track in and between Champaign andUrbana.
Has 15 motor cars and 8 others.
INTER URBAN'ROADS.
(8) Chicago Bloomington & Decatur Ry.
ORGANIZATION.-Incorporated in Illinois in April 1905 and operates
a road from Bloomington through Clinton to Decatur, 49.6 miles. Has 6
motor cars, 1 locomotive and 75 trail cars. Stock is all owned by the
Illinois Traction Co. Mostly private right of way.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock
All owned by Illinois Traction Co.
1st Div mtge, $2,000,000,1 1906
11.112,000 Oct 1 1936
5 g A-0
guar, gold ($1,000)
c• Central Trust Co., Chicago. Trustee.
Bonds.-Are guar., p. and ., by Ill. Trac. Co. They are subject to call
on any interest date on 30 days' notice at 105.
OFFICERS.-Same as those for Illinois Traction Co.-V.81, p. 558.
(9) Danville Urbana & Champaign Ry.
ORGANIZATION.-Incorporated in Illinois under the railroad law; on
July 28 1902. Owns the Danville Paxton & Northern Ry. Mo,tly private
right of way.
Date.
STOCK AND BONDSInterest. Outstanding. Maturity
$2,000,000
Stock $2,000,000
5 g M-S
1,802,000 Mch. 1 1923
First mortgage $2,000,000} 1903
gold ($1,000) guaranteed Interest at Agency of Bank of Montreal, N.Y.
Northern Trust Co.. Chicago, Trustee.
c*
6 g J-J
500,000 See text.
Second mort'ag'e 1500,0001 1905
gold ($1,000) s.rial ........c*lInt. at Agency Merchants' Bk. of(an., N. Y.
no
sinking
have
5s
fund, but are subject to all on any
Bonds.-The first
interest date upon 8 weeks' notice at 105 and interest. The bonds are
guaranteed, principal and interest, by endorsement by the Dan v lie Street
Urbana
& Champaign Railway, Gas & Electric
Railway & Light Co. and the
Co. V. 81, p. 284. The second 6s mature $50,000 on Jan. 1 1908 and
$50,000 each Jan. 1 thereafter. The $50,000 due on Jan. 1 1908 were extended until after the other $450,000 of the issue Is paid. They are subject to call at par on l0 days' notice. Are guaranteed as to principal and
Interest by Illinois Traction Co. Trsutees are Montreal Trust & Deposit
Co. and Thos. Fysile.
/WAD -Operates 70.1 miles Of track over private right of way,connecting
the cities of Danville, Urbana and Champaign with branches from Danville to Georgetown and Ridge Farm; Danville to Catlin and Ogden to
37
Homer. 70-lb. rails. Has 22 motor cars, 10 electric and steam locomotives
and 86 trail cars.
tt L tit.) tt.1.-Calendar year 1907, gross, $356,497; net, $167,522; interest,
$1 '5.251• surplus, $62.171.
OFFICERS.-Pres. W. B. McKinley; Sec., E. A. MacNutt;, Treas.
Geo. M. Mattis.-V. 81, p. 264; V. 83, p. 435; V. 84, p. 338.
(10) Illinois Central Traction Co.-A trolley road.
ORGANIZATION.-Incorporated in Illinois in 1903 under general
railroad laws. Mostly private right of way.
STOCK AND BONDS- Date,
Interest. Outstanding. Maturity.
Stock
$1,100,000
1st mtge, $2,000,000 ($1,-1 1903
5 g J-D
1,461,000 Dec 1 1933
000) gold, guar
c*f Interest at City Trust Co., Boston, Trustee.
Bonds.-Are subject to call on any Interest date on 60 days' notice at
1073,6 and Int. Are guaranteed, p. and I., by Illinois Traction Co. V. 82,
p. 804. A sinking fund of 10% of net earnings becomes operative
1
1908; but not to be less than 1 %. of bonds outstanding.
Dec*
REPOrt1'.-Calenaar year LW, gLoss, *G3o,5d1; net, $103,710. In
1906. g-oss, $229,691: net, $103.499.
ROAD.-Operates 45.5 miles of track from Decatur to Springfield, with
an extension from Buffalo to Mechanicsburg; 70-1b. rails. Has 11 motor
cars and 20 trailers.
OFFICERS.-Pres., W. B. McKinley; Sec., E. A. McNutt; Treas., Geo.
M. Mattis; Gen. Mgr., L E. Fischer, V. 82, p. 804; V. 84, p. 339.
(11) Illinois Western Railway Co.
Capital stock, $50o,0,10, all owned by Ill. Tract. Co. Is building 35 miles
of road from SnrIngtleld to Jacksonville, Ill. Expected to be completed
Jan. 1 1909. Has 9 motor cars, 1 locomotive and 29 trailers. Temporary
bonds to the amount of $290,000 have been issued.
(12) Peoria Bloomington & Champaign Traction Co.
ORGANIZATION.-Incorporated in Illinois in April 1905. Mostly
private right of way. Has 50-year franchises in Bloomington and Peoria.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock, $5,000
All owned by Illinois Traction Co.
1st mtge, $3,000,000, gold{ 1906
5 g M-N
$2,000,000 Nov 1 1936
($1,000)
c* Int. at agency Merch. Bk. of Canada, N. Y,
Central Trust Co., Chicago, Trustee.
Bonds.-Are guaranteed, principal and interest, by Ill. Trac. Co. They
are subject to call on any interest date at 105 on 30 days' notice
ROAD.-Is to operate 90 miles of track from Peoria to Champaign..
Standard gauge, 70-1b. T rail. Has 10 motor cars and 28 trailers. Is now
operating 38.6 miles of track between Bloomington and Peoria. The
bridge over the Illinois River was completed in April 1907. Owns power
house in Peoria of 4,000 k. w. capacity.
(1.3) Peoria Lincoln & Springfield Railway Co.
Completed during 1907 a road from Lincoln, Ill., to Mackinaw, Ill.,
connecting the Springfield & Northeastern Traction Co. with the Peoria
Bloomington & Champaign Traction Co., and making a through line from
Bloomington and Peoria to Springfield and St. Louis. Total track operated
28.6 miles. Has 3 motorcars, 1 locomotive and 67 trailers. Mostly private
right of way. Capital stock all owned by Illino s Traction Co.
STOCK AND BONDSDate.
Interest. Outstanding, Maturity.
Stock $500,000
See text
5 g M-S
First mortgage $1,350,0001 1908
$900,000 Mch. 1 1938
($1,000) gold
csi Central Trust Co. of Illinois, Chic., trustee.
(Int, at agency Al, rch. Bk. of Canada, N.Y.
Bonds.-Are guaranteed principal and Interest by endorsement by Illinois
Traction Co. subject to call in any amount on 4 weeks not ce on any interest
date at 105. No sinking fund.
(14) St. Louis Decatur & Champaign Ry.
ORGANIZATION.-The entire $100.000 stock is owned by the Illinois
Traction Co. Operates 53.86 miles of track from Champaign to Decatur.
Has 9 motor cars, 1 locomotive and 43 trailers. Mostly private right of
way. Officers same as for Illinois Traction Co.
BONDSInterest. Outstanding. Maturity.
Date.
First mortgage St Louis D &I 1906
$1,42,000 Nov. 1 1936
5 g ldi-N
C Ry Co, $3,000,000, gold }Central Tr. Co. of Illinois, Chicago, Trustee.
c)Jut, at Agcy. of Merch. Bk. of Canada, N. Y.
Bonds.
-Are
(1
nc13
0.
0
) Are guaranteed, principal and interest, by endorsement, by the
Illinois Traction Co. Can be called on any interest day at 105. Covers
50 miles of track.
(15) St. Louis & Northeastern Ry.
ORGANIZATION.-Incorporated in Illinois in 1904. Stock all owned
by Illinos Traction Co. Temporary bonds only to the amount of $902,000
are outstanding. All the property of the Danville & Edwardsville Terminal
RR. Co. has been transferred, to this company.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity,
Stock. 11,000,000 ($100)_
$1,000,000
ROAD.-Operates 24.4 miles of road from Hillsboro to Staunton. Has
12 motor and 21 trail cars.
OFFIO RS.-Sa me as those for Ill. Traction Co.-V.81. p. 156, 978.
(16) St. Louis & Springfield Ry.-A trolley road. Mostly private right
of way.
ORGANIZATION -Incorporated In Illinois in 1903.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock
$575.000
1st mtge,12,250,000(11.000).1 1903
5 g J-D
1,520,000 Dec 1 1933
s f, gold, guar
csf Int. at City Trust Co., Boston, Trustee.
Bonds.-Are subject to call on any interest date on 80 days' notice at
107 yi and int. Are guaranteed, p. and I., by the Illinois Traction Co.
Sinking fund of 10% of net earnings starts Dec. 1 1908.
EARNINGS.-For year ending Dec. 31 1907, gross, $308,598; net (after
taxes), $115,418; interest, $76,000; surplus, $39,417.
ROAD.-Operates 62.5 miles of track from Springfield to Carlinville and
forms part of a through line from Springfield, Ill., to St. Louis, Mo. 4
motor and 2 trail cars.-V. 85, p. 100; V. 86, p. 422.
(17) St. Louis & Staunton Ry.Incorporated Nov. 1907. Owns and operates 19 miles of road between
Staunton and Edwardsville, Ill. (which was formerly owned and operated
by the St. Louis & Northeastern Ry.) Has 6 motor cars and 47 trailers.
Mostly private right of way. Capital stock all owned by Illinois Traction
Co. $900,000 temporary bonds have been issued.
(18) Springfield & Northeastern Traction Co.
ORGANIZATION.-$1,350,000 of stock is owned by Illinois Traction Co
Mostly private right of way.
STOCK AND BONDS.Interest. Outstanding. Maturity.
Date.
Stock $1,500.000
*1,5 ,0
1st mtge $1,500,000 (11.000)1 1906
5 g J-D
800,000 Dec 1 1936
gold
c*i Int.at agcy. Merchants' Bk of Canada. N.Y.
(Central Trust Co. of Illinois, trustee.
Bonds.-Bonds are guar.,p. and
by endorsement by Illinois Traction
Co. Can be called on any int. date on 4 week's notice at 105. No sinking
fund.
ROAD.-Operates 33.3 miles of track, from Springfield to Lincoln. Has
27 trail cars. V. 85, P. 655.
(19) Tr -City Traction Co.
Owns that portion of road lying between Edwardsville and East St. Louis
which was formerly owned by St. Louis & Northeastern Ry. Co. Mostly
private right of way. Total track operated 20.7 miles. Has 10 motor
cars and 28 trailers. Stock all owned by Illinois Traction Co. $900,000
temporary bonds have been issued.
OTHER PROPERTIES, AND ROADS UNDER CONSTRUCTION.
(20) Danville & Eastern Illinois Ry.
Is building from Danville to Indiana State line, 7 miles, to connect with
Indiana Interurban roads. 3 miles has been completed. At Terre Haute
connection will be made with Indiana Interurban roads. In Sept. 1907
increased stock from $5,000 to $500,000. V. 85, p. 722. Temporary
bonds to the amount of $240.000 have been issued.
(21) Madison County Light & Power Co.
Is a consolidation in 1906 of the Edwardsville Light & Power Co. and the
Granite City-Venice Electric Co. Supplies light and power to Edwardsville,
Granite City, Venice and Brooklyn. Stock all owned by Ill. Traction.
STOCK AND BONDS.Date.
Interest. Outstanding. Maturity
Stock $100,000
$100,000
1st mtge $1,000,000 ($1,000)f 1906
5 g J-D
377,000 Dec 1 1936
gold
c*iInt.at agcy. Merchants' Bk.of Canada,N.Y.
(Central Trust Co. of Illinois, trustee.
Bonds.-Guar. p. and 1. by Illinois Traction Co. Can be called on
four weeks' notice on any int. day at 105. No sinking fund.
ELECTRIC RAILWAYS
38
(22) St. Louis Electric Bridge Co.
ORGANIZATION.-Incorporated in Jan. 1007 with nominal (12.500)
capital stock to build a bridge from Salisbury Street, St. Louis. to Venice.
Ill., at an estimated cost of $2,500,000. For franchise provisions. see
V. 85.. p. 100. Construction was started in Oct. 1907. Ralph Modjeski
is chief engineer. V. 85, p. luO. Temporary bonds are being issued as
work progresses.
(23) St. Louis Electric Terminal Railway Co.
Organized to build extensive terminal freight and passenger stations to
cost about $5,000,000. Owns valuable real estate and a 50-year franchise
giving the Illinois Traction an outlet in St. Louis. Expected to be completed in 1909. Capital stock, *1,000,000, all owned by Illinois Traction
Temporary bonds to the amount of $891,000 have been issued. V.85,
Co'100.
p.
• (24) Springfield Belt Ry.Co.
Is constructing a belt line from the Illinois Traction road east of Springfield to connect with the line south of citylimits in order that it will not be
necessary to run express cars through Springfield. Right of way practically
al secured. In Sept. 1907 stock was increased from $5,000 to $500,000.
V. 85, p. 723. Temporary bonds only have been issued.
(25) Urbana Light, Heat & Power Co
Controls the electric lighting and steam heating business of Urbana.
Entire stock is owned by Illinois Traction Co.
STOCK. AND BONDS.- Date.
Interest. Outstanding. Maturity.
Stock *100,000
See text.
$44,000
See text.
5 M-N
1st mtge $56,000 ($500) _ _cf 1903
ant. at Prov. Say. Bk.&Tr.Co., eine.. Trust.
Bonds.-Mature $2,000 to $4,500 annually on May 1 until May 1 1920.
$12,000 retired up to June 1908.
OFFICERS.-Pres., W. B. McKinley; Sec., E. A. McNutt; Treas.,
Geo. M. Mattis; Gen. Mgr., F. E. Fischer.
CAIRO ELECTRIC & TRACTION CO.-A trolley road.
s
' In Sept. 1908 It was stated that negotiations were under way by the
McKinley syndicate for the purchase of this road. V. 87, p. 614.
ORGANIZATION.-This was formerly the Cairo Electric Ry., but in
May 1903, after having acquired the Egypt Electric Co. and the Cairo
Electric Light & Power Co., and merged them, name changed to above.
Interest. Outstanding. Maturity.
STOCK AND BONDSDate.
$150,000
Stock *150,000 ($100)First mortgage $150,000 gold l 1903
100,000 June 1 1923
5 g J-D
($500 and $1,000)
clint. at Central Trust Co., Chicago, Trustee.
Bonds.-$50,000 are reserved for extensions and betterments. Are
subject to call on any interest date after 10 years at 105.
EARNINGS.-For calendar year 1907, gross, $140,139; net, $33,593.
ROAD.-Operates 9 A miles of track in Cairo, together with the electriclighting and power plant. 40 to 60-1b. T rail, standard gauge. V. 87, p.
613.
DAVENPORT, IOWA.
Lxxvvn.
DIVIDENDS.-6% per annum is being paid on preferred. On common.
In 1900,6%;in 1901,6%;in 1902,6%;in 1903,6%;also 162-3% ($250,000
in new stock at par or in cash) declared Nov. 1903), paid Jan. 1 1904; in
1904, 6%;in 1905. 6 A %;in 1906. 7%;in 1907, 7%;in 1908, Jan.. 1
April, 13i 70: July. 1 %.
EARNINGS.-For calendar year 1907. gross, $589,413. In 1906, gross,
$567,273. In 1905, gross, $497,481.
ROAD.-Controls and operates in all 30 miles of track, namely, Third
Street Line, Fifth Street -Line, Green Line, Dayton & Soldiers' Home
Ry. and Kammer Ave. Line; gauge 4 ft. 83 in • rails, 70 and 80-lb. T and
50 G. E. 800 motor equip70 and 90-1b. girder; operating 42 G. E. 67 and'
ments; 100 motor cars, 10 trailer cars and 3 sprinklers.
OFFICERS.-Pres.. D. B. Corwin; 1st V.-P.. C. B. Clegg; 2d V.-P.,
E .1. Barney;Sec., E. D. Grimes; Gen. Supt. and Punch. Agt..'1 . E Howell.
Office, Western and Auburn Avenues, Dayton.-V. 77, p. 2158, 2280;
V. 81, p. 31; V. 83, p. 1590.
DAYTON COVINGTON & PIQUA TRACTION.-A trolley road.
ORGANIZATION.-This was formerly known as the Dayton & Troy
Traction, but name changed to the above in Aug. 1901. The D. Fc T.
Traction was incorporated in Ohio in Jan. 1900 to build a street railway
from Dayton to Troy, but route was changed, and road constructed from
Dayton to Covington and Piqua, about 38 miles; 70-1b. T rails. Company
acquired the right to use the tracks of the People's Ry. in entering city
of Dayton.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$600,000
Stock auth, $600,000 ($100)
550,000
Pref 5% n-c, $550,000 ($100)_
5 g A-0
450,000 April 1 1922
1st mortgage, $550,000, gold). 1902
csjInt. at Old Colony Tr. Co., Boston, Trustee.
($1,000)
6 g M-S
60,000
See text
2d mortgage, $60,000
Bonds.-U00,000 1st mtge. bonds are reserved for extensions and improvements; 2d mtge. bonds are subject to call on any interest date at 105.
OFFICERS.-Pres., D. Dwyer; V.-P. and Gen. Mgr., Thos T. Robinson:
Gen. Supt., E. C. Spring.-V. 77, p. 146.
DAYTON & TROY ELECTRIC R Y.-A trolley road.
ORGANIZATION.-Incorporated in 1900. Is built entirely on private
right of way. Completed in Dec. 1901. Rails 70-lb. T. Power house
located at Tippecanoe City, Ohio. Stock, $500,000 (1100) common, and
*500,000 ($100) preferred; cumulative 5 %. No bonds contemplated. In
May 1902 took over the Miami Valley Ry. under a 99-year lease at a rental
of $9,600 per annum, which is applicable to the stock of $300,000, mortgage
having been canceled.
Dividends.-On the preferred stock 5 %, per annum is being paid. On
corn., Jan. 11904, 2%;[n 1905, Jan., 3%;July 1, 1%;Aug., 1%;Sept., 1%;
in 1906, Jan., 2%; March, 2%;Sept., 2%. In 1007, July, 2%.
ROAD.-Owns and operates 30 miles of track (10 miles double, 10 miles
single) between Dayton and Troy. Leases the Miami Valley Ry., extending
from Troy to Piqua and comprising 17 A miles of track. Total track, 473.
miles.
OFFICERS.-Pres., H. P. Clegg; V.-P., Chas. B. Clegg; Sec. and Gen.
Mgr., C. M. Paxton. Gen. office, Dayton,0.-V.76, p. 653, 751, 1029.
IOWA & ILLINOIS RY.-A trolley road.
ORGANIZATION.-Incorporated in Iowa in September 1901. Is an
electric road, with a steam charter. Franchises expire in 1951.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$1,500,000
Common, $1,500,000 ($100)-500,000
Pref, $500,000, 6% n-c ($100)- ---DAYTON & XENIA TRANSIT CO.-Trolley.
1,050 000 Jan 1 1924
5 g J-J
1st mtge, $2 000,000, gold) 1904
Receivership.-Judge Thompson in U. S. Court at Cincinnati, March 12
c•fInterest at Girard Trust Co., Phila., Trustee.
($1,000)
appointed C. J. Ferneding (Pres. of road) receiver. Second mtge.
1908,
Bonds.-01 the $2,000,000 authorized, $500,000 are reserved for acquir- Interest Is in default for 1906 and 1907. V. 86, p. 668.
ing other railways and $450,000 to provide for steam railway terminals and
ORGANIZATION.
-Incorporated in 1901 as a consolidation of the Dayequipment at 80% of cost. No sinking fund, but subject to call on any
ton & Xenia Traction and the Rapid Transit Co. of Ohio. The Dayton &
interest date at 105 and interest. See V. 82, p. 100, 160.
had
in
1899 purchased the Dayton Spring Valley & WilTraction
Xenia
EARNINGS.-For calendar year 1907. gross. $132,849; in 1906, gross. mington Transit Co.
1109,183.
BONDSAND
STOCK
Date.
Interest. Outstanding. Maturity.
ROAD.-Operates 36.4 miles of track between Davenport and Clinton Stock,$800,000
$800,000
on private right of way. 70-1b. T-rail. Standard gauge. Has traffic 1st mortgage, $500,000, gold). 1901
5
g A-0
500,000 April 1 1921
agreement for transferring passengers to Rock Island and Moline, Ill.
($1.000)
fInterest at Old Colony Trust Co., Bos., True.
OFFICERS.-Pres., Garrett E. Lamb; V.-P. and Asst. Treas., Frank W. 2d mortgage, $300,000
f 1901
5
g
A-0
300,000
April 1 1021
R.
B.
Sec.,
McCoy;
Jr.;
Treas.,
C.
B.
Mills;
Ellis; 2d V.-P., Henry Thuenen
'Worcester (Mass.) Trust Co., Trustee.
Asst. Sec., L. Lamb; Gen. Mgr., P. P. Crafts, Clinton, Iowa; Supt., F. A.
-The
EARNINGS.
gross
earnings
for
the
year
100,
160.
ending
Dec.
31
1906 were
p.
82,
1058;
V.
p.
Perkins.-V.80,
$123,000.
ROAD -Owns and operates 51 miles of road from Dayton to Xenia, and
THE TRI-CITY RAILWAY & LIGHT CO.
ORGANIZATION.-Incorporated in Connecticut in April 1906 and owns from Dayton to Spring Valley. of which about 201milesils over private right
the entire capital stock (except directors' shares) of the People's Power Co., of way.
OFFICERS.-Pres., Clement J. Ferneding: V.-P.,RH. L. Ferneding;
the People's Light Co. the Davenport Gas & Electric Co.. the Tr -City Ry.
Suburban sty. Co.and the Moline E. Moline &Water- Treas., Edward Canby; Sec., 0. 0. Ozias. Office, Dayton. 0.-V. 73,
Co., the Davenport &'
town Ry. Co. All stock and bonds (with the exception of $429,000 bonds p. 82; V. 74. p. 205; V. 78, p. 820; V. 86, p. 668
security
for
the new mortgiven below) have been deposited as additional
OAKWOOD STREET RY. CO.-A trolley road.
gage. Controls all gas plants, electric lighting companies and street railway lines in thecontiguous cities of Davenport, Iowa, Rock Island, Moline
ORGANIZATION.-Incorporated July 22 1870 In Ohio. Franchise exand East Moline. III. Population served, approximately 100,000. Fran- pires 1941. Stock authorized and outstanding, $500,000 (par $100). No
chises, with one comparatively unimportant exception, are said to extend bonds. Operates 8 miles of track between suburbs of Dayton. Standard
beyond.
and
1923
to maturity of mortgage in
gauge. Earnings calendar year 1907, gross, $150,860; net, $23,138. In
MERGER OF SUBSIDIARIES.-In 1907 the Tri-City By. Co. and the 1906, gross, $142,122. Pres. and Trea..,Charles BACIegg, Dayton;,Supt.,
Davenport & Suburban By. Co. were consolidated, the Tr -City Railway Henry Gebhart, Dayton.
Increasing its stock from $1,500,000 to $2,500,000, in order to take over
the Davenport & Suburban line. V.85, p. 161.
PEOPLE'S STREET RAILWAY.-Owned by the Americanillys. Co.Interest. Outstanding. Maturity. See statement of the latter under Philadelphia.
STOCK AND BONDS- Date.
$9,000,000
Common, $9,000,000 ($100)__
2,826,200 July '08, 1 A
6 Q-J
Pref.$3,000,000.6 %cum($100) ____
8,032,000 April 1 1923
5 g A-0
Coll trust 1st lien, mtge, $9,-1 1906
Trustee.
DELAWARE, OHIO.
c&rfInt. at N. Y. Trust Co., N.
000,000 s gold
July 1 1908
346,000 Y.'
Ju
6 g J-J
1801
COLUMBUS MAGNETIC SPRINGS & NORTHERN R Y.
(part due yearly) to July 1 1911
Day & R I, 1st mtgc, g, $1,ORGANIZATION.-Incorporated in Ohio on Oct. 15 1906, and is a
.000,000 ($500 & $1,000)_c* Int. payable in N. Y. at Chase Nat. Bk. and
in Chicago at Ill. Tr. & Say. Bk., Trustee. consolidation of the Delaware & Magnetic Springs Ry. and the Richwood
5
54,000 Sept 1 1922 & Magentic Springs By. Private right of way except in City of Richwood.
Tr -City Ry
Stock.-Preferred stock is redeemable at 120. See V.82. p. 1213. Listed
STOCK AND BONDSInterest. Outstanding. Maturity,
Date.
on Montreal and Toronto Stock Exchanges.
Common, 1200,000(1100).
1100,000
Bonds.-Of the $9,000,000 new bonds, $406,000 are reserved for prior Pref, 6% n-c, $200,00079,200
liens, $507,000 for 85% of cost of future additions and improvements and CMS&N 1st M.$400.000,goldi 1906
5 g M-N
205,000 Nov 1 1931
fund.
sinking
Are
subject
to
call
on
any
by
$55,000 have been retired
($1,000), cannot be called. Interest at Colonial Trust Co., Pittsburgh,
interest date at 105 and interest. A sinking fund provides for the redempTrustee.
and no sinking fund __ _c*
tion of $2,250,000 bonds by maturity. Coupon bonds are in denomination
ROAD.-Operates 18 miles of track from Delaware to Magnetic Springs
of $1,000 and registered bonds in $1,000, $5,000 or $10,000. Of the Daven- and
Richwood.
port & Rock Island bonds, 5% is due annually to 1910 and the balance on
OFFICERS.-Pres., W. M. Galbraith; Pitts.; V.-P. and Treas., C.
July 1 1911.
Dividends.-First dividend on pref., 1A %, paid July 1906, and i3 % Magee Jr., Pitts.; Sec., H. E. Buck, Delaware,0.-V. 83, p. 1228, 1469.
was again nald Oct. 1 1906. In 1907.6%. In 1908, Jan., 1 A %;Apt., 1 A;
July, 1 A %.
EARNINGS.-For 12 months ending Dec. 31:
DENISON, TEXAS.
Net. Fixed Chgs. Sink.Fd. Surplus.
YearGross.
DENISON & SHERMAN RY.-A trolley road.
1907
$1,774,954 $658,686 $400,547 $37,500 $220,639
1906
631,090
1,632,306
ORGANIZATION.-Incorporated in Texas on Aug. 27 1900. ComROAD.-Operates about 87 miles of standard-gauge track, connecting menced operations May 1 1901. Franchises, 50 years in cities. Private
the cities of Davenport, Iowa, and Rock Island, Moline and East Moline, right of way between cities.
80-1b. girder and 60 to 75-lb. T-rail.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
. OFFICERS.-Pres., J. F. Porter, Davenport* Vice-Pres.. P. G. Gossler, Stock $300,000 ($100)------*250,000
New York; Vice-Pres., Geo. D. Mackay, New York; Sec., H. R. Tobey; First mortgage, 1350,0001 1902
5
J-J
265,000 July 1 1927
Treas., U. C. (A, leknam: Asst. See., M. K . Parker. Asst. Treas . T. W. Niof(11,000)
c* Illinois Tr. & Say. Bank, Chic., & W. H.
fat Jr. Operated under management of J. G. White & Co., New York.Henkle, Trus. Int. at N. W.Harris & Co.
V. 85, p. 161, 1006; V. 87, p. 98, 168.
Second mortgage, 150,0001 1902
6 Q-J
50,000 July 1 1912
(11,000)
Interest at Illinois Trust & Savings Bank,
Chicago, and W. H. Henklc, Trustees.
DAYTON, OHIO.
Bonds.-Interest payable in New York and Chicago. First mortgage
CITY RAILWAY CO.-A trolley road.
bonds are subject to call on July 1 1917, or after, at 105 and interest. A
ORGANIZATION.-Chartered May 12 1893. Is a consolidation of the sinking fund begins July 1 1905 of 2% per annum of bonds outstanding until
Dayton Street RR., the Dayton & Soldiers' Home RR., the Fifth Street 1913, when amount payable is 3% Der annum until 1917: from 1918 to 1922,
RR. and the Green line. Franchises run for 50 years from Feb. 8 1892 Inclusive, 4% per annum; 1923 to 1026 inclusive, 5% per annum. $22,000
held in sinking fund July 1 1908.
and April 19 1893.
In Dec. 1906 $100.000 new common stock was offered to shareholders at
ROAD.-Operates 16 miles of track (8 miles between Denison and Sherpar; at the same time a special dividend of 5% on this stock was declared. man and 8 miles in the cities). 60-lb., 70-lb. and 80-lb. T rails. Also
See V. 83 • p. 1590.
owns 45-acre park situated midway between the two cities.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
EARNINGS.-12 months ending April 30 1908, gross. $110,537; net
Q-J
$2,195,900 July'08, 1 %
Common, $2,400,000 ($100)__
600,000 .1(.1y 08, 1 A % 136,324. In 1906-07, gross, 1103,121; net, 133,267.
6 Q-J
Preferred, $600,000 ($100)_- ---65,000 Jan 1 1911
OFFICERS.-Pres. and Treas., J. P. Crerar; V.-P., John Crerar
6 .J-J
Dayton & Soldiers' Home RR1 1891
1st mortgage
fInterest at Chemical Nat. Bank, N. Y. City. Principal office Denison Texas.-V. 81, p. 613
SEPT., 1908.1
39
ELECTRIC RAILWAYS
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MAP OF THE LINES OF THE
CONTINUATION ON THE EAST
OF THE LINES OF THE
•
DENVER CITY TRAMWAY CO.
DENVER CITY TRAMWAY CO.
DENVER, COLORADO
INCLUDING
DETROIT & PORT HURON SHORE LINE RY.
AppIe
(RAPID RAILWAY SYSTEM)
SANDWICH, WINDSOR 8,t AMHERSTBURG RV.
THE WINDSOR & TECUMSEH ELECTRIC RI. CO.
DETROIT, MONROE Sc TOLEDO SHORT LINE RI.
DETROIT, JACKSON & CHICAGO RI. ,
S
Brown Cy
‘
.•
Yale
PERE
\\c''Lynn.-
Vassar
\S
J
\ Mt. Saler'?
o(Fsti\
Kings Mills
0.G
Enin
Carlton
Idlewild
Summerville
ST. CLAIR
Imlay City
The Oakland,
Martin
4CoLlron Wks.
\ Berville ,.."3IemphiNx
Swith's
414,.
pkin's Road'
4't 0'44
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OCH ESTER <53
Grand Blanc
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fferson Beach
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dl k River
C _I, A
airview
Drayton Plains
Sylvan Lak
Cass L e
0RCH 114,1S t:
Howell
Chilson
Pettysville
Hamburg Jc.
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TRUNK
I
SEPT., 1908.]
•
ELECTRIC RAILWAYS
DENVER, 00L.
THE DENVER & NORTHWESTERN RV.-An electric road.
ORGANIZATION.-Incorporated in Colorado in June 1901. Current
is furnished by Denver Tramway Power Co. Franchise In Denver run s for
50 year ; in Golden for 99 years; upon and across county roads is perpetual.
Remainder (comprising main mileage) 1, over private right of way.
In May 1902 purcha ed the -tock of the Denver Tramway Co. See V. 74,
p. 1038. This tock has been deposited as collateral under the new mtge.
In Sept. 1908 it was reported that this company, the Denver City gramway Co. and Denver Tramway Power Co. were ,00n to be merged. See
V.87. p. 613.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity
Stock $6,000,000 ($100)_
$6,000,000
First and collateral mortgage} 1902
5 g M-N
6,000,000 May 1 1932
gold $6,000,000 ($500 and Interest at Mercantile Trust Co., New York.
$1,000)
c*
Trustee; also office of company in Denver.
Bonds.-Can be called on any interest day at 105 and Interest upon 90
days' notice. On Aug. 1 1907 whole issue was called for payment Nov. 1
1907, but, the panic Intervening, the notice was rescinded.
EARNINGS.-Of combined sy tern for year ending June 30 1908, gross,
$3,001,570; net, $1,605,120; fixed charge-, including taxes and franchise
payments, $914,965; surplw, $690,155. For year ending June 30 1907,
gross, $2,813,340; net, $1,480,868; fixed charges, Including taxes and franchise payments, $877,645; surplus, $603,223.
ROAD.-Operates 26.212 miles of track through former town of Berkeley (now part of City of Denver), northwesterly through Arvada to coalmining town of Leyden, including branch from Arvada to Golden. Gauge,
3-ft. 6 in. 75 and 80-lb. T rail. 106 cars, of which 5 are motor freight,
03 gondola, flat and dump freight cars, remainder miscellaneous.
OFFICERS.-Pres., S. M. Perry; 1st V.-P., W. G. Evans; 2d V.-P. and
Gen. Supt., John A. Beeler; Sec. and Treas., F. G. Moffat; Aud., W. A.
Doty.-V. 74, p. 1037; V. 85, p. 40, 1143.
(1) Denver City Tramway Co.-(See Map on Page 39.)-Electric.
In May 1902 Denver & Northwest Ry. obtained control, exchanging its
securities for Denver City Tramway stock. See V. 74, p. 1038.
ORGANIZATION.-Chartered in Colorado in Jan. 1899. Is owner, by
purchase and consolidation, of following companie ;, formerly operating
In and about Denver: The Denver Electric de Cable Ry., the Denver Tramway Co., the South Denver Cable Ry., the Denver Tramway Exten,lon
Co., the Denver Consolidated Tramway Co., the Metropolitan fly., the
Denver City Cable Ry., the We t End Street RR., the Denver City Traction Co. and the Colfax Electric Ry. Also owns entire stock of Denver
Tramway Power Co.
Line. In City of Denver are operated under a franchise granted Feb. 5
1885, authorizing company to build, operate and maintain cable and electric railway,. This franchl e is said to be without limit, provides for 5-cent
fares, for paving, &c. Al o operates under a 20-year grant voted by the
tax-paying electors of the city on May 15 1906, authorizing company to
maintain three-ra 1 tracks, gauges 3 ft. 6 in. and 4 ft. 83,4 in., over all lines
in the city, and permitting the construction of certain viaducts and exten ion . See deci ion in V. 84, p. 220.
Shareholders Feb. 19 1907 authorized an Increa c in the'tock to $20,000,000. See V. 84, p. 390. On Aug. 27 1908 authorized $25,000,000
mtge. ( cc below). V. 87, p. 613.
Date.
STOCK AND BONDSInterest. Outstanding. Maturity.
Stock $20,000,000 ($100)
$5,000,000 In 1907.6%
Den Tram con mtg gold $2,-1 1890
6 g J-J
1,219,000 Jan. 1 1910
000,000
c*&r(
g $1,000,000 1891
Met St RR 1st
6 g J-J
953,000 .Tan. 1 1911
Denver Consol Tramws, cons( 1893
5 g A-0
1,665,000 Oct 1 1933
mtge,$4,000,000, gold_ _ 1 Interest at Mercantile Tr. Co.. N. Y., Trust.
Purchase money mtge gold 1899
5 g A-0
2,000,000 April 1 1919
$2.000,000($1,000& 3500)c* Interest at Central Trust Co.. N. Y., Trustee.
1st & ref mtge 525,000,000_, _ 1908
5%
1938
See text
Bonds.-Interest on all underlying bonds is payable at Mercantile Trust
Co.. New York, and in Denver. The mortgage of 1899 is a first lien on the
Denver City and West End properties and a lien on the Denver Consolidated
Tramway junior to its existing mortgages, to remain outstanding and be
assumed. Abstract of Denver Consolidated Tramways consolidated mortgage of 1893. V. 52, p. 354. Of the fir t and refunding bond of 1908, $13,000,000 are reserved for prior lien ; and remaining $12,000,000 to be issued
for additions and extensions for actual co t and only when net earnings
are at lea t 150% of Intere t charges on bonds outstanding; no more than
$350,000 are to he I ,sued in any one year until all old bonds are retired.
See V. 87, p. 613.
ROAD.-Owns 184.28 mile; of electric track. Gauge, 3 ft. 6 In. Principally 65 and 72-11). rail. 360 cars, of which 250 motor passenger cars;
62 trail passenger cars and 48 miscellaneous.
DIVIDENDS.-Dividends of 6% per annum have been paid on Denver
City Tramway stock since May 15 1902. Previous to 1902, 4% per annum
was paid.
OFFICERS.-Pres., Wm. G. Evan': 1st V.-P. S. M.Perry; 2d V.-P. and
Gen. Man. John A. Beeler; Sec. and Treas., Thos. Keely; Aud., W. A.
Doty.-V.
'
84, p. 220. 390; V. 87, p. 226, 613.
(2) The Denver Tramway Power Co.ORGANIZATION.-Incorporated in Colorado March 1901 and owns
the electrical power plant and di tributIng 'y tern which Supplies the current for the operat on of the Denver & Northwe tern and the Denver City
Tramway line'. Thi ; company is lea ed for 20 years from April 1 1903 to
the Denver City Tramway Co., the latter guaranteeing the bonds, both
principal and intere •t, guaranty being endor ed on the bonds. Entire
stock is owned by Denver City Tramway.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock $500,000 ($100)_
$500,000
5 g A-0
First improv mtge $1,500,000( 1903
1,376,000 April 1 1923
gold ($1,000) guar p & l_. i Int. at Internat. Trust Co., Denver, trustee,
I or Morton Trust Co., New York
Bonds.-Of the 1st improv't mtge. bonds, $77,000 are reserved for future
Improvements at cost. Are ubject to call on any interest date after April 1
1908 at 105 and Intere t. A sinking fund of $50,000 per annum, to retire
bonds at 105 and Int., commenced in 1908, and $47,000 were redeemed
May 16 1908. This I ; al4o guaranteed by Denver City Tramway. Interest
is payable in New York and Denver.
PLANT.--Is operated by and furni hes all power for the Denver Tramway Co. Normal capacity of company's plant, which is situated on the
Platte River in Denver, I 5 7,500 k. w. Owns 3 sub-stations, two of 1,000
k. w. and one of 900 k. w. capacity.
OFFICERS.-Pres., Wm. G. Evan-; V.-P., John A. Beeler; Sec. and
Treas., Thos. Keely.-V. 82, p. 1437; V. 83, p. 36; V:86, p. 1103.
DERRY, PA.
WESTMORELAND COUNTY RAILWAY CO ORGANIZATION.-Incorporated in Pennsylvania on Dec. 27 1904. Is
a consolidation of the Bradenville & Derry Street Ry, and the Blairsville 6:
Derry Street Ry.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
Stock $500,000 ($50)
$500,000
First mortgage $250,000 gold' 1905
5 g M-S
250,000 Mch, 1 1935
($100)
c*1Int. at East End. Say. & Tr. Co., Pitts., Tr
BONDS.-No sinking fund and bonds are not subject to call.
EARNINGS.-For year ending June 30 1907, gross, $46,998; net, $10,915; interest and taxes, $14,520; surplus, $5,395.
ROAD,-Operates 7 miles of track.
OFFICERS.-Pres., Jos. Keeling; Sec., A. P. Meyer; Treas.. J. G. Vii.
sack, all of Pittsburgh; Supt., S. P. Schwartz, Derry.-V. 80, p. 1176;
V. 82, p. 50.
DES MOINES, IOWA.
DES MOINES CITY RAILWAY.-A trolley road.
ORGANIZATION.-A consolidation in 1893 of the Des Moines Street
RR.and the Des Moines Suburban Ry. Co. Is authorized to carry freight.
Franchises in Des Moines considered perpetual under a charter granted by
the city of Des Moines to Dr. M. P. Turner on Dec. 10 1866. On Nov. 21
1905 the City Council passed a resolution directing the company to remove
Its tracks from the streets. But on Feb. 27 1907 the U. S. Circuit Court
at Des Moines,in an action brought by the company to restrain the city
from attempting to enforce this ordinance, decided that the franchise of
the company is perpetual. V. 84, pr 508.
41
Guarantees the Interurban By. Co. bonds-prin. and int. See below.
STOCK AND BONDS-Date.
Interest. Outstanding. Maturity.
Common. $3,000,000 ($100)
$1,055,000
Pref 6% n-c, $250,000250,000
Des Moines St RR 1st MI 1889
6 g A-0
340,000 Oct 1 '08 to
gold, ($1,000 each)
($25,000 due yearly)
Oct 1 1919
tAmerican Tr. & Say. Ilk., Chicago, Trustee.
Des Moines Sub Ry 1stt 1890
6 g J-J
260,000 Jan 1909 to
mortgage. gold ($1,000
($20.000 due yearly)
Jan 1921
each)
c* Interest at Chemical Nat. Bank, N. Y. City.
( Trustee, Iowa Loan de Trust, Des Moines.
5 g A-0
Des Moines City Ry refund'gI 1901
2,289,000 April 1 1921
mortgage, $3,000,000, goldlInterest at N. W. Harris & Co., N. Y. City
($1.000)
c*
also Chicago. Trustees, Illinois Trust &
Say. Bk. and Wm. H. Henkle of Chicago.
Bonds.-Of the new mtge. bonds of 1901, $882,000 were originally reserved to retire the underlying 6s then outstanding. Of the $2,289,000 55
reported outstanding, $5,000 have been deposited with Illinois Trust &
Savings Bank to be held In lieu of $4,000 Des Moines City By. 6s still out.
Bonds can be called on any interest date on and after April 1 1906 at 106
and interest. Sinking fund becomes operative as follows: $10,000 yearly on
April 1 from 1906 to 1910, $15,000 from 1911 to 1915 and $25,000 from
1916 to 1920. The remaining bonds Tray only be issued to pay for SO %, of
cost of extensions, providing net earnings are 50% iu excess of interest
charges upon all bonds outstanding, Including those to be issued
REPORT.-For calendar year 1907, gross, $779,059; net. $219,509;
taxes, $21,596; interest, &c., $158,991; surplus, $38,922.
ROAD.-Operates 80 miles of track. Standard gauge; 45 to 85 lbs. T
and girder rails.
OFFICERS.-Pres., George B. Hippee; V.-P., H. H. Polk; Sec., N. T.
Guernsey; Gen. Mgr., A. G. Maish; Supt. W. G. Owens. V 77, p. 769;
V. 79, p. 1266; V. 81, p. 1043; V. 83, p. 751; V. 84, p. 508; V. 86, p. 546.
INTERURBAN RY.-A trolley road.
ORGANIZATION. - Incorporated in Iowa to construct a system of
interurban roads connecting with Des Moines. The Des Moines City Ry.
Co. gusrantees the bonds, prin. and Int. In April 1906 authorized stock
was increased from $1,000,000 to 51,200,000.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock, $1,200,000 ($100).
$1,160,000
1st mortgage, sinking fund, 1901
5 g A-0
1,160,000 April 1 1921
gold ($1,000), guaranteed- Amer. Trust & Savings Bk., Chic., Trustee.
p. & I. by Des Moines City Interest at N. W.Harris & Co., New York
BY
c*
and Chicago.
Bonds.-Other bonds may be issued for acquisitions and extensions at
not over 80% of cost and at not over $16,000 per mile for new road, but only
when net earnings equal 1% times all interest charges on bonds outstanding
and those to be issued. Bonds are subject to call on and after April 1 1906
at 105 and interest, when a sinking fund of 5% of balance of annual net
earnings after payment of all charges becomes operative, and bonds so purchased are to be kept alive for purpose of the fund.
EARNINGS.-For 12 months ending Dec. 31 1907, gross, $220,100
net, $70,391; in 1906, gross. $198,579; net, $94,190.
ROAD.-Connects Des Moines and Colfax, 24 miles, Des Moines and
Perry, with branch to Woodward, 38 Yi miles, and also operates 10 miles in
and around Des Moines; total, 72M miles. Standard gauge; 80 and 70 lb.
T rail. Cars enter Des Moines over tracks of Des Moines City Ry.
OFFICERS.-Pres. and Gen. Mgr., H. H. Polk; V.-P., E. P. Smith;
Sec., N. T. Guernsey; Treas., Geo. B. Hippee.-V. 74, p. 630.
DETROIT, MOH.
DETROIT UNITED RAILWAY.-(See Map page 40.)-Trolley.
ORGANIZATION.-Incorporated in Michigan Dec. 31 1900 and took
over franchises and properties of the Detroit Citizens' Street By.,the Detroit
Electric By., the Detroit Ft. Wayne & Belle Isle and the Detroit Suburban.
V. 72, p. 44, 183. Embraces all the street railway lines in Detroit.
Later absorbed by purchase the Detroit & Northwestern Ry.. which Is
known as the Orchard Lake division, the Detroit & Pontiac By.. known
as the Pontiac division, the Wyandotte & Detroit River Ry., known as the
Wyandotte division, and the Detroit & Flint, formerly the Detroit Rochester Romeo & Lake Orion Ry., and known as the Flint division. Owns entire capital stock ($2,000,000) of the Detroit & Port Huron Shore Line.
In Aug. 1901 purchased 2,970 shares (all) of the stock of the Sandwich
Windsor & Amherstburg Ry.; 180 shares (all) of the stock of the City Electric Ry. and the People's Electric Light plant of Windsor, Ont. ,
In Feb. 1906 issued the $1,000,000 notes in table below, for the purpose
of acquiring the entire stock of the Detroit Monroe & Toledo Short Line Ry.
V. 82, p. 392.
In Jan. 1907 company purchased control of the Detroit Ypsilanti Ann
Arbor & Jackson By., the Jackson Ann Arbor & Detroit Ry. and the
Detroit Plymouth & Northville Ry.,and reorganized them under the name
of Detroit Jackson & Chicago Ry. V. 84, p. 450.
The United States Supreme Court on March 3 1902 decided that the
ordinance of 1889 compelling the Citizens' Street Ry. to sell 8 tickets for a
quarter was invalid. (See V. 74, p. 528.)
In July 1906 a proposed ordinance extending the company's franchises
until Dec. 4 1924 was submitted to the City Council. See V. 83, p. 271.
1170. V. 84, p. 338. Ordinance, however, fell through.
On May 1 1907 the Supreme Court of Michigan decided that the city of
Detroit could not lay street railway tracks through its Department of
Public Works (as attempted under an ordinance of the City Council passed
in 1905),to be leased, as supposed, to an operating company. V.84,p.1052.
On April 25 1907 Judge Swan in the U. S. Court at Detroit granted an injunction (which July 24 1907 was made permanent) restraining the city
from enforcing an ordinance seeking to compel the company to give 20
seconds' service on some of its lines. V. 84, p. 1052.
On July 23 1907 Judge Swan granted an injunction restraining the city
from enacting an ordinance which provided that company can use patches
of line on which franchises are said to have expired on condition only that
5 tickets be sold for 15 cents over entire lines or streets on which patches
lie. V. 85, p. 345.
STOCK AND BONDS- Date. Interest. Outstanding.
Maturity.
Stock, $12,500,000 ($100)
Q-F
$12,500,000 Aug.'07,1 %
1st consol mtge. $25.000,000,11902
g J-J 13,617,000
Jan 1 1932
gold ($1,000)
c* Guaranty Trust Co., N. Y., Trustee.
Int. at Kean, Van Cortlandt eG Co.. N. Y.
Notes, $1,000,000
{ 1908
5 g M-S
1,000,000 Mch 1 1909
Redeemable after 1 year at par.
Coll trust gold notes, 32,000,-1 1907 5 g F-A15
2,000,000 Feb 15 1910
000 ($1,000)
c&rj
Trust Co. of America, Trustee.
Detroit United Ry, stock and bonds have been listed on the New York
Stock Exchange; also Detroit Citizens' By. consol. 5s.
Bonds.-Of the $25.000.000 first consolidated mortgage bonds authorized.
$9,020,000 are reserved to retire underlying liens and $2,363,000
are
reserved for acquiring new properties at the rate of 75% of cost, and
only available on a two-thirds vote of the stockholders. Entire issue, or
any part thereof, is subject to call at any time at 105 and interest on 60
days notice. See V. 73, p. 1111. The coll, trust notes of 1907 are secured
by $100,000 pref. and $1,899,200 common stock of the Detroit Port Hourn
Shore Line,and $125,000 of that company's bonds,$100,000 Detroit & Lake
St. Clair bonds and $1,400,000 consol. 4345 of the Detroit United Ry. The
notes are redeemable on any Int. date at par and int. upon 30 days' notice.
Detroit Citizens'
Date.
Interest. Outstanding
Maturity.
Detroit Sub Ry 1st mtge,1 1893
0 J-J
$140,000 Jan 1,1911
$250,000 ($1,000), goldc'J
Union Trust Co., Trustee, Detroit.
Bonds.-Are guaranteed under terms of lease. Unissued bonds have
been canceled. Issue, formerly 5s, fell due Jan. 1 1908 but was extended
to Jan. 1 1911 as 6s.
Detroit Electric
Date.
Interest. Outstanding. Maturity
Detroit Ry.1st mtge,g($1,000) 1895
5 g J-D
*1,800,000 Dec 1 1912
on 58.34 miles
c*&r Int. at Cleveland Tr. Co.. Trustee. to 1924
Detroit Electric con M. 32.-I 1896
5 g J-D
1,000,000 June 1 1918
800,000. gold ($1,000)c*&r Int. at Cleve. Tr. Co., Trustee. As to Dec.
1897 Interest. see V. 85, p. 1219.
Bonds.-FIrst mortgage bonds of the Detroit Ry. numbered 1 to 600 mature in order of numbers at $50,000 per annum, beginning Dec. 1 1912;
numbers 601 and above mature Dec. 1 1924. Detroit Electric consols for
$1,800.000 are reserved to retire the first mtge. bonds as they mature.
42
•
Detroit Fort Wayne & Belle Isle.
5 g A-0
$1,200,0001 1898
$1,200,000 April 1 1928
c* r New York Trust Co., Trustee.
Subject to call at $105 and int. on 60 d.notice
Interest at Kean, Van Cortlandt & Co., New York.
Detroit & Northwestern Ry.
$855,000 May 1 1921
1st mtge, $1,000,000, gold) 1901 04 g MN
c*IInterest at Union Trust Co. Detroit, Trustee
($100, $1,000)
Bonds.-Are guaranteed, principal and interest, by the Detroit United
By. by endorsementf and are subject to call at 105 and interest on 60 days'
notice after May 1 1911. See V. 73, p. 494.
• •
Detroit & Pontiac Ry.
5 g F-A
$500,000 Feb 1 1922
1st mortgage. $500.000; guld1 1897
c*i•Washington Trust Co., N. Y. ,Trustee.
($1,000)
Interest at People's State Bank, Detroit.
600,000 June 1 1926
1st con mtge. g ($1,000),1 1901 4% g J-D
c*&rjInt. at dt ashington Trust Co., N. Y.,Trustee
31,100,000
Bonds.-$500,000 consolidated mtge. 4A % bonds are reserved to retire
Ike amount of 1st mtge. bonds. Bonds are subject to call at 105 and inter.
at on 60 days' notice after June 1 1911. Principal and interest of both
issues guaranteed by Detroit United by endorsement.
Wyandotte & Detroit River Ry.
5 g J-D
$425,000 Dec 1 1918
1st consol M. $425,0001 1898
c*SInterest at Union Trust Co., Detroit, Trustee.
($1,000), gold
Detroit & Flint Railway.
The Detroit & Flint Ry. was organized to acquire the Detroit Rochester
Romeo & Lake Orion, together with the North Detroit Electric By. and the
Detroit Utica & Romeo Ry. The consolidated mtge. Is a first lien on these
last two properties.
Date.
Interest. Outstanding. Maturity.
5 g J-D
$1,100,000 June 1 1920
DRR &LO By 1st mtge.1 1900
sinking fund, gold ($1,000), Interest at American Trust & Savings Bank,
$1,500,000; unissued bonds I Chicago, Trustee; also Guaranty Trust
c*J Co., New York.
have been canceled
5 g F-A
Detroit & Flint 1st consol Ma 1901
$1,400,000 Aug 1 1921
g, $3,000,000 ($1,000).._c*JInt. at Tr. Co. of America. N. Y., Trustee.
Bonds.-01 the consolidated mtge., $1,100,000 are reserved to retire
bonds of like amount of the D.R.R. & Lake 0.By.and $500,000 have been
canceled. Consolidated bonds are subject to call at 100 and interest after
Aug. 1 1911 on 60 days' notice. Both issues are guaranteed by the Detroit
United Ry.; see form of guaranty in V. 76, p, 1300; as "additional collateral
security" on the Flint bonds 1st consol. 4;4 % bonds of the Detroit United
are deposited, $ for $, with the Guaranty Trust Co. of New York, and would
be available In the event of default on the Detroit & Flint bonds.
LATEST EARNINGS.-For 7 months ending July 31 1908, gro-s. $3,964,875; net, $1,436,699; other Income, $35,072; fixed charges, $948,952;
surplus, $522,819; in 1907, gross, $3,989,225; net, $1,470,673; other Income,
$33,023; fixed charges, $901,099; surplus, $602,597.
REPORT.-Annual report of the Detroit United Ry. for the year ending
Dec. 31 1907 was published in V. 86, p. 417.
Detroit United Ry.. Rapid Railway System and Sandwich Windsor &
Amherstburg Ry. Combined,'
1905.
•1906.
•1907.
$7,073,246 $6,063,182 $5,125,563
Gross earnings
3,041.523
3,718,621
Operating expenses, including taxes_ 4,465,044
1st mtge,
($1,000)
[VOL. Lxxxvii.
ELECTRIC RAILWAYS
g,
Net earnings from operation
Income from other sources
$2,608,202 $2,344,561
58,757
60,505 •
$2,084,040
44,076
$2,403,318
$2,128,116
$1,243,273
625,000
$1,113,294
562,500
$2,668,707
Income from all sources
DeductionsInterest on funded and floating debt_ $1,554,249
343.750
Dividends
$1,897,999 $1,858,273 $1,675,794
$452,322
*$535,045
•3770,708
Surplus income
revenue passengers in 1907,
126,601,946
carried
The combined system
against 113,011,309 in 1906; 36,704,431 transfer passengers, against
32,840,259.
*The 1907 and 1906 figures include earnings of the Detroit Monroe &
Toledo Short Line By. and the 1907 figures only include the Detroit Jackson & Chicago By. for 11 months. In 1907 $276,000 of above surplus was
charged off for depreciation and in 1906 $250,000.
DIVIDENDS.-First dividend of 1 % on Detroit United stock was paid
March 1 1901 and 1 % quarterly thereafter until Aug. 1 1905. when rate
was raised to 1 X % quarterly. On Nov. 1 1905 1 %. In 1906 5%. In
1907, Feb., 1 X %; May. 1 X %; Aug., 1 Yi %. Nov. dividend passed.
None since.
ROAD.-On Jan. 1 1908 operated 740.96 miles of track, as follows
Detroit United, including Wyandotte & Detroit River By., Detroit &
Northwestern, Detroit & Pontiac, Detroit Fc Flint, 398.46 miles; Detroit
& Port Huron Shore Line, 127.72 miles; Sandwich Windsor & Amherstburg Ry., 35.44 miles; Detroit Monroe & Toledo Short Line, 74.47 miles;
Detroit Jackson & Chicago Ry., 104.87 miles. Rails, 77, 85 and 98-lb.
steel. Does an express service. Has 943 closed passenger cars, 325 open
passenger cars, 229 freight and construction cars, 16 line cars, 42 express
cars, 6 miscellaneous cars, 2 locomotives, 2,637 motors and 2,019 trucks.
There are 11 power-houses with a combined capacity of 40,500 h. p., 2
storage batteries with a combined capacity of 4,500 amperes and 16 substations with a combined capacity of 10.000 k. w
OFFICERS.-Chairman of Board, H. A. Everett, Cleveland; Pres.,
J. C. Hutchins, Detroit; V.-P., Arthur Pack, Detroit; V.-P., E. W. Moore.
Cleveland; Treas., George H. Russel, Detroit; Sec., Edwin Henderson,
New York; Asst. Sec., A. E. Peters, Detroit. General offices, 12 Woodward Ave., Detroit.-V.83, p. 271, 1170; V. 84, p. 51, 270, 338, 387, 450,
1052, 1307, 1366; V. 85. p. 345, 1005; V. 86, p. 337, 417, 794.
(1) Detroit & Port Huron Shore Line Ry.-A trolley road.
Entire outstanding capital stock is now owned by the Detroit United By.
ORGANIZATION.-Incorporated in May 1900. Is a consolidation of
the Rapid Railway Co., the Detroit Mt. Clemens & Marine City By. (the
purchaser of the properties of the Mt. Clemens & Lakeside Traction Co. and
the Detroit & River St. Clair Ry.), the Port Huron St. Clair & Marine City
Ry., the Connors Creek & Clinton River Plank Road Co. and the City
Electric By. of Port Huron. The new company owns the capital stock of
each road. The consolidated company operates all the tracks in Mt. Clemens and Port Huron, and the through route from Detroit to Port Huron
running through Mt. Clemens, New Baltimore, Aigonac, Marine City and
St. Clair. Also owns the capital stock of the Detroit & Lake St. Clair By.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$2,000,000
Stock, $2,500,000 ($100)1,592,000 Jan 1 1950
5 g J-J
1st mtge, $2,500,000 ($1,000)} 1900
cannot be called, gold c*&r Union Trust Co., Detroit, Trustee.
Int. at American Exch. Nat. Bank, N. Y.
Bonds.-Of the new 1st mortgage, $783,000 is set aside to retire underlying liens (namely the bonds of the Rapid Railway and of the City Electric
Ry. and the Port Huron St. Clair & -Marine City Ry.): and $125,000 is
reserved for extensions and acquirements.
Rapid Railway.
Interest. Outstanding. Maturity.
Date.
BONDS-$300,000 May 1 1915
5 M-S
$300,000, 1895
mortgage,
1st
c* Int. at Finance Co. of Penna.,Phila., Trustee
($1.000)
$300,000 May 1 1916
5 g M-N
1st Consolidated mortgage, 1896
c*jInt. at Finance Co. of Penna.,Phila., Trustee
$600,000 (gold)
Of the consol. mortgage bonds of 1896, $300,000 are reserved to take up
the outstanding first mortgage bonds.
City Electric Railway (of Port Huron).
Interest. Outstanding. Maturity.
Date.
BONDS6 g M-S
$180,000 Mar. 1 1913
$200.000,1 1893
mortgage,
1st
Subject to call at 105 and int. after Mar.1 '03
gold, $1,000
Int. at Hanover National Bank, N. Y. City.
Bonds.-The mortgage trustee is the Union Trust Company of Detroit
Detroit & Lake St. Clair Ry. Co.
•
Interest. Outstanding. Maturity.
Date.
BONDS5 g A-0
$290,000 Apr. 1 1920
gold) 1900
$400,000,
1st mortgage,
c*IInterest at Union Trust Co., Detroit, Trustee
($1,000)
Bonds.-The bonds are guaranteed, principal and interest, by the Detroit
& Port Huron Shore Line By.. the Rapid Railway Co. and the Detroit Mt.
• • • ...
Clemens & Marine City By. They are not subject to call.
-
Port Huron St. Clair & Marine City Railway.
Interest. Outstanding. Maturity.
Date.
BONDS$3,000 Mar. 1 1920
5 M-S
1st mortgage, g., $300,0001 1900
($500 and $1,000)_
f Union Trust Co., Detroit, Trustee.
The remaining $297,006 bonds have been canceled.
ROAD.-Total Det. & Port Huron System, 127.72 miles.
EARNINGS.-Now included in report of Detroit United Ry.
OFFICERS.-Pres., J. C. Hutchins; V.-P., F. W. Brooks; Sec.. A. E.
Peters; Treas., Geo. H. Russel.-V.77, p. 134; V. 84, p. 338.
(2) Sandwich Windsor & Amherstberg Ry,-Trolley.
ORGANIZATION.-Incorporated under special charter from Province
of Ontario. Entire capital stock is owned by the Detroit United.
STOCK AND BONDS-Date. Interest. Outstanding. Maturity. Div'd
$297,000 July 311902.2% %
Stock,'*350,000 ($100)- - Dec. 1,11122
g J-D
490,000
Consol Mtge., $600.000f fon __
gold ($1.000)
c*INational Trust Co., Ltd. Toronto, Trustee.
Bonds.-Interest is payable at the company's office. Are subject to call
after Dec. 1 1912 at 105.
EARNINGS.-Now included in report of Detroit United By.
ROAD.-Operates 35.44 miles of track in and between Windsor, Walkervile, Sandwich and Amherstburg, including City By. of Windsor (2.52'
miles, operated under lease.
OFFICERS.-Pres. H. A. Everett, Cleveland; V.-P. and Treas., J. C.
. A. E. Peters, Detrolt.-V. 75, p. 1303, 1400.
Hutchins, Detroit; Sec.,
(3) Detroit Monroe 8: Toledo Short Line Ry.In Feb.,'06 entire stock was acquired by Det. Unit, By. V. 82, p. 392.
ORGANIZATION.-Incorporated in Michigan on December 11 1902.
STOCKS AND BONDS- Date.
Interest. Outstanding. Maturity.
__
Stock, $3,000,000 _
$2,434,0001
5 g J-J
1st mortgage, $3:600,000,1 1903
2,484,000 Jan. 1 1933
c*j Union Trust Co. Detroit, Trustee.
gold ($1,000)
Bonds.-Interest is payable in New York. No'
sinking fund and bonds
are not subject to call.
ROAD.-Operates 50 miles of road from Toledo to Detroit and 4 miles of
road from Monroe to Lake Erie; completed Nov. 5 1904. At Toledo connection is made with the Lake Shore Electric Ry. for Cleveland. Is of
steam road construction, on private right of way; standard gauge, laid with
70-lb. T-rails. Total track, 74.47 miles.
OFFICERS.-Pres., J. C. Hutchins, V.-P., F. W. Brooks; Sec., A. E.
Peters; Treas., Geo. H. Russel.-V.78, p. 1961; V.79, p. 2455; V.82, p. 392.
(4) Detroit Jackson & Chicago RY.ORGANIZATION.-A holding company organized in Michigan in 1907
by Detroit United interests to take over the Detroit Ypsilanti Ann Arbor &
Jackson By., the JacksJn Ann Arbor & Detroit Ry. and the Detroit Plymouth & Northylile By., paylmr therefor $1,230,000.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$25,000
Stock,$25,000 ($100)
1,330,000 Feb 1 1937
5 g F-A
1st cons M,$4,000,000 ($1,600)11907
c*1Int. at Security Trust Co., Detroit, Trustee.
gold
BONDS.-Bonds are subject to call on any interest day at 105 and interest. Guaranteed, p.& I., by the Detroit United Rys.; $3,405,000 were to
be used to pay for stock and to retire bonded and other debts of the Det.
Yps. Ann Arbor & Jack. Ry., and the rest for improvements.
OFFICERS.-Pres., F. W. Brooks; Sec., A. E. Peters; Treas., A. F.
Edwards.-V. 85, p. 345.
(a) Detroit Ypsilanti Ann Arbor & Jackson Ry.,
ORGANIZATION.-Organized in Michigan in 1901; absorbed by put
chase the Detroit Ypsilanti & Ann Arbor By. and the Ypsilanti & Saline
Electric By. Franchises which are not perpetual expire In 1927.
STOCK AND BONDSDate.
Interest, Outstanding. Maturity.
Stock,com.($2,600,000)
$2,600,000
1st consol. M., $2,600,0001 1901
5 g F-A
1,610,000 Feb. 1 1928'
$500 ($1,000), gold ---c*JInt. at Detroit Trust Co. Detroit, Trustee.
Det. Yp. & Ann Ar. 1st M.} 1897
6 g M-N
6.00,000 Nov. 1 1917
(*600,000), g. ($500 or Interest at Union Trust Co., Detroit, Trustee
$1,000 each)
Det. Yp. & Ann Ar. Cons
1st
$1,000,000, gold 1899
6 g F-A
330,000 Feb. 1 1924'
($500M...fo $1,000 each), Interest at Union Trust Co , Detroit, Trustee
s, f., annually
Yp. 40 Saline 1st M
6 J-J
60,000 July 1 1919
Of the new 1st mortgage of $2,600,000, $990,000 are reserved for underlying liens. First consols cannot be called. See V. 75, p. 666.
ROAD.-Completed and in operation from Detroit (through Wayne
and Ypsilanti) to Ann Arbor and to Jackson; making mileage 100 miles, of
which 40 miles over private right of way. Total track, 104.86 miles.
Rails 70 and 75-lb. T and girder. Does a freight business.-V.79, p. 269;
V. 81, p. 1723; V. 84, p. 51, 450.
DOYLESTOWN, PA.
PHILADELPHIA & EASTON ELECTRIC RY. CO.-A trolley road.
ORGANIZATION.-Organized in 1907 as successor to the Philadelphia,
& Easton By. (formerly the Doylestown & Easton Street Ry.), sold at
trustee's sale May 311907.
Interest. Outstanding. Maturity.
STOCK AND BONDSDate,
$258,800
Common $265,000 ($50)
354,800
Pref $365,000 5% non-cum
911,000 Sept 1 1927
4-5 g M-S
1st mtge $1,000,000 ($1,000 1 1507
$500 and $100) gold.._ _..c*f Interest at Girard Trust Co.,Phila., Trustee.
STOCK.-Preferred shares have no voting power.
Voting Trustees.-William Pearson, Harrisburg; John B. Myers, Lancaster; L. B. Hillard, Wilkes-Barre; Franklin Matthews, Philadelphia;
Godfrey Shmidheiser, Philadelphia.
Bonds.-The new $1,000,000 bonds are not subject to call and no sinking
fund. Interest is 4% to Sept. 1 1911 and 5% thereafter; $165,000 receive
no Interest until 1910.
EARNINGS.-For vear ending Dee. 31 1907, gross, $98,001.
ROAD.-Operates 33 miles of road between Doylestown and Easton,
completed in summer of 1904. Operates 8 cars.
OFFICERS.-Pres., David P. Ayars. Wilkes-Barre; V.-P., A. H. Sickler,
Phila.; Treas. & Gen. Mgr., J. C. Lugar, Doylestown; Sec., W. S. Chambers,
Doylestown.-V. 85, p. 470.
DU BOIS, PA.
DU BOIS ELECTRIC & TRACTION CO.-A trolley road and electric
lighting plant.
In Aug. 1907 the United Traction Extension Street RR. Co. was organized by interests controlling this road with $100,000 stock and $100,000
bonds. Operates a road from Sykesville to Big Run, 7)4 miles.
ORGANIZATION.-Incorporated in New Jersey on Nov. 15 1901 as
the American Town Light Co. and name changed later as above. Is a
consolidation of the Du Bois Electric Co and the Du Bois Traction Co. V.
78, p. 972. Franchises for both street railway and electric lighting are per-,
petual and exclusive.
Date.
STOCK AND BONDSInterest. Outstanding. Maturity.
*300,000
Stock,$300,000 ($100) _
250,000 May 1 1932
5 g M-N
Coll. tr. mtge. 3300,0001 1902
c*f Int. at Knickerbocker Tr. Co., N. Y., Trust.
($500), gold
29,000
Underlying liens
Bonds.-No s. f., but subject to call at any time at 105 and int.; $50,000
of new bonds are reserved to retire $29,000 prior liens. V. 81.0. 1550.
EARN IN GS.-For year ending Dec. 311007, gross, $71,734; net, $35,573
fixed charges. $16.900: surplus. 521,673.
ROAD.-Operates 19 miles, including extension to Falls Creek, Sykesville and to (including United Traction Ext. St. RR.) Big Run, where
connection is Made with tracks of the Jefferson Tracton Co., controlled
by the same Interests. Standard gauge; 60 and 70-lb. girder and T rail. .
J. B. Morris; Sec., J. H.
OFFICERS.-Pres., Austin Blakeslee;
Crissman; Treas., B. B. McCreight, all of Du Bois -V. 81, p. 1550, 1791,
DUBUQUE, IOWA.
UNION ELECTRIC CO. IN 10WA.-Trolley.
ORGANIZATION.-Incorporated in Iowa in 1900 as a consolidation of
the Home Electric Co., the Dubuque Street By. and the Star Electric Co.,
which constitute the entire electric light and street railway properties of the
city of Dubuque, Iowa. In April 1901 Messrs. Linehan 83 Mob° sold their
half Interest in the company to the other stockholders, the General Electric
Co. among them, which June 1 1004 owned $240,000 of the common and
$240,000 of the preferred. In June 1907 authorized stock was increased
from $1,000,000 to $1,500,000. Franchises mature 1927.
SEPT., 1908.]
Interest. Outstanding. Maturity.
STOCK AND BONDS - Date.
$655,000
Common.$750,000 ($100)
727,000 Feb. '08, 1.
6%
Pref., $750,000 ($100)6% cum __ _
650,000 May I 1924
5 g M-N
1st mtge., $980,000, gold,1 1904
c*JInt. at Ill. Tr. & Say. Bk.. Chicago, Trustee.
($1,000)
Remaining $330,000 bonds reserved for 80% of cost of extensions and
improvements; but only in event of increase of stock,and then to only twothirds of such increase, but in no case to be made earlier than two years
from date of bonds. Bonds subject to call after five years at 105 and int.
Sinking fund of $15,000 p.a. begins Apr. 30 1908.
Dividends.-First dividend on pref., 3i %. June 1 1907, and 51 % has
been paid monthly up to and including Feb. 1908.
EARNINGS.-For calendar year 1907, gross, $294,922; net, after taxes,
$112,177. In 1906, gross, $271,468; net, after taxes, $102,640.
ROAD.-Owns and operates about 17 3i miles of track on 14M miles of
street in Dubuque, West Dubuque and to Union and Nutwood parks, and
has contract with the city for supplying electric lights.
OFFICERS.-Pres., F. D. Stout, Chicago; V.-P., D. D. Myers; Sec. and
Treas.. J. R. Lindsay;, Railway Exchange. Chicago; Gen. Man., L.D.
Mathes.-V.71, p. 2643; V. 84, p. 1553; V. 86, p. 983.
DULUTH, MINN.
DULUTH-SUPERIOR TRACTION.-Trolley.
ORGANIZATION.-Incorporated in Connecticut in 1900. Owns entire
stock of the Duluth Street Ry., the Lakeside Street By. and the Sup_er1or Rapid Transit. The corporate existence of the Duluth Street RY
is maintained, but all of Its stock ($1500.000 authorized. $300 000 outstanding) is held by the Duluth-Superior Traction. This latter company
has no bonded debt. The Duluth Street Ry. was organized under Act
of Minnesota approved Nov. 17 1881, and possesses "an exclusive franchise"
which runs until 1931. See decision with regard to franchises in Superior
in V 80, p. 1911. 'rhe Duluth-Superior Bridge at West Superior is used by
the railway, but is a separate corporation, and has issued first mortgage
bonds for $650,000 and second mortgage bonds for $300,000-see bridge
Items. V. 63, p. 310, 504. In 1903 entered into contract with the Great
Northern Power Co. to supply sufficient power to operate the street railways in both eities. Power is now (1908) being delivered.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
$3,500,000
Cap.stock, corn. $3,500,000 _ _
1,500,000 July'08. 1 %
Pref.4% cum.$1,,500,000
Q-J
2,500,000 May 1 1930
Duluth St. By. M., 52,500,00011900
5 g M&N
Co., N Y., Trustee.
Trust
gold ($1.000)
Cent.
eel Int. at
Bonds.-The mortgage covers all the mileage of the Duluth Street By,
the property of the Lakeside Street Railway and of the Superior Rap.
Transit having first been conveyed to the Duluth St. By.
Dividends -On the preferred stock 4% per annum is being paid.
ROAD.-The system embraces 73.03 miles of track and Includes all the
lines in Duluth and Superior.
REPORT.-Of the Duluth Street Ry. for calendar year 1907, gross$846,084; net, $408,693; interest and taxes, Including $84,053 for depreeia;
tion, $301,735; surplus, $106,958; in 1906, gross, $788,875; net, $350,054,
interest and taxes, Including $50,820 for depreciation, $261,892; surplus,
$88,162.
OFFICERS.-Pres. C. G. Goodrich; Sec. and Treas., L Mendenhall;
Gen. Man., Herbert Warren.-V. 72, p. 183, 627; V. 80, p. 1911.
DUNKIRK, N. Y.
DUNKIRK STREET RAILWAYOrganized April 11 1906, by the syndicate which proposes to connect
Buffalo and Erie. Has secured a franchise in Dunkirk and has built about
5 miles of track. Pres., L. B. Grant; V.-P., P. C. Schutrum; Sec., Chas.
H. Werner: Treas., M. J. Dodge.
EAST LIVERPOOL, OHIO.
EAST LIVERPOOL TRACTION & LIGHTORGANIZATION.-Incorporated in Ohio on Sept. 30 1905 and is a consolidation of the United Power Co., the East Liverpool By., the Ceramic
City Light Co., the Wellsville Electric Light Co., the Glasgow RR., the
Eastern Ohio RR., the Island Run Coal Co. the East Liverpool & Rock
Springs Street Ry., the East Liverpool Bridge Co., the Chester Light &
Power Co. and the People's Light & Power Co. See V. Si. p. 1791.
STOCK AND BONDS - Date.
Interest. Outstanding. Maturity.
Common,$2,500 000($100)
52,500.000
500,000
Pref.,5 %n.c..$500,000 ($100)
1st mort., $3,000,000, gold1 1905
5 g M-N
2,400,000 Nov. 1 1925
($1,000)
cf Int. at Union Trust Co.. Pittsb., Trustee.
Bonds.-Of the $3,000,000 authorized, $600,000 are reserved for extensions, improvements and acquisitions. Are subject to call on any interest
date at 105.
EARNINGS.-For 7 months ending May 311900. gross. $170,428; net,
$73,749; fixed charges, $57,839; surplus, $15,010.
ROAD.-Comprises 15 miles of track between East Liverpool and Wellsville. Standard gauge, 73-1b. girder and T rail. An extension of about
8% miles of double track was completed to Toronto Feb. 1008, where connection Is made with the Steubenville & East Liverpool Ry. & Lt. Co.
OFFICERS.-Pres., Van Horn Ely, of Buffalo; V.-P., C. A.Smith. East
Liverpool; Sec. and Treas., Edward McDonnell, East Liverpool.-V. 81,
p. 1701; V. 82, p. 804.
STEUBENVILLE & EAST LIVERPOOL RAILWAY & LIGHT CO
ORGANIZATION.-Incorporated in Ohio April 1906 as successor to
the Steubenville Traction & Light Co., which in Jan. 1901 had taken over
the Steubenville Gas & Electric Co. and the Steubenville Traction Co.
Owns the Pleasant Heights line. Light franchises perpetual; street railway franchises expire 1925 to 1928. Bonds listed on the Philadelphia
Stock Exchange.
Date,
Interest. Outstanding. Maturity.
STOOK AND BONDS$3,000,000
Stock, $3,000,000
1 ,860,000
5 J-J
First mortgage, 53,000,000 1907
1912
e Int. at Commercial Trust Co., Phil., Trustee.
($1,000), gold
5 g M-N
790,000 May 1 1926
Steuben Tract & Lt 1st mtge, ---$1,000,000 ($1,000), g-c* Int at Metropolitan Trust Co., N.Y., True.
Bonds.-Of the new $3,000,000 bonds, $790,000 are reserved to retire
prior liens and $350,000 are in the treasury of the company. Cannot be
called.
ROAD.-19 miles of track in Steubenville and between Steubenville and
Toronto; laid with 60-1b. rails; 13 closed and 16 open cars. Also electriclight and gas plants, and pleasure park of 85 acres. Is building a 40-mile
extension from Toronto north via Wellsville and East Liverpool to Van
Port, Pa
OFFICERS.-Pres., Van Horn Ely; Sec. and Treas., Ed. McDonnell.
EASTON, PA.
EASTON CONSOLIDATED ELECTRIC.On May I 1904 lease to Lehigh Valley Traction was canceled by rentals
being in default. Sec V. 78, p. 1446, 1781. In June 1904 a further installment of $5 per share was called on stock. V. 78, p. 2011, 2442. Dividend
payments have been: July 1900, 3M % on $10 paid in; Sept. 1901 and
March and Sept. 1902, 3% on $15 paid in; March 1903 (paid in July) and
Sept. 1903, 4% on $15 paid in.
In Dec. 1905 declared a dividend of $2 50, and at same time called an
assessment of *5 per share on the stock; the dividend was credited on the
assessment, making the stock 50% paid in. V. 81, p. 1791. Cash dividends resumed in Oct. 1906 by the payment of 214 %. V. 83. p. 687.
254% again paid April 1 1907 and 234% Oct. 1 1007; none since
ORGANIZATION.
-Consolidation of the Easton Transit Co., the Edison
Illuminating Co. of Easton. the Easton Palmer & Bethlehem Street By. Co.,
the Easton & Bethlehem Transit Co. and the Northampton Central Street
By. Co. Incorporated in New Jersey March 11 1899.
Owns entire ($150,000) stock of the Easton & South Bethlehem Transit
Co., organized on June 19 1906 to build a line from Easton to South Bethlehem, about 12 miles. Also leases that company and guarantees its bonds,
principal and Interest, by endorsement. V. 83, p. 323. Owns all the
stock of the Penn. Motor Co.
Consolidation of Subsidiaries.-On Jan. 3 1908 the (old) Easton Transit
Co., the Easton & Bethlehem Transit Co., the Easton Palmer & Bethlehem
Street By. and the Northampton Central Street By. were merged Into the
(new) Easton Transit Co. V. 85, p. 1461. Stock, 52,000,000,
43
ELECTRIC RAILWAYS
STOCK AND BONDS.-Both the stock and the collateral trust 58 were
in Jan. 1900 listed on the Philadelphia Stock Exchange.
Date.
Interest. Outstanding. Maturity.
50% d. in Oct '07, 23
Stock $1,500,000 (par $50)_
5 g M-N
1,2 0,000 May 1 1949
Collateral trust 51,300,000 g 1899
c* Interest at Girard Trust Co., Phila., Trustee.
(51,000 and $500)
6 A-0
Pennsylvania Motor Co 1st Mf 1881
60,000 April 1 1941
Lack. Tr. & Safe Dep, Co., Scranton, Trust.
(cannot be called)
5 J-J
200,000 Dec.31 1918
Eas Pal & Beth Elec 1st gold 1898
$200,000. cannot be called I Int. at U.S. Mtge. & Trust Co., N. Y.,Trust.
5 g J-J
470,000 July 1 1936
Eas & So Beth 1st M $500 0001 1906
guaranteed gold ($1,000)c*i Girard Trust Co., Philadelphia. Trustee.
Bonds.-The collateral bonds have no sinking fund ann are not subject to
total
of
$1,300,000,
$60,000
is
reserved to retire the Pennsylcall. Of the
vania Motor bonds. Issue is secured by a pledge of $2,000,000 stock (the
entire issue) of the (new) Easton Transit Co., 12,317 shares (out of 12,322
shares) of Edison Illuminating stock, and 2,400 shares (the entire Issue
of Pennsylvania Motor stock. Interest on Easton & So. Beth. bond
payable at office of Edw. B. Smith & Co., Philadelphia, or at comps
office. The bonds are gwaranteed, prin. and Int., by endorsement by
Easton Consolidated Electric . A sinking fund of $5,000 per annum •
mences June 1 1908. Bonds are subject to call after July 1 1911 at
and interest. V. 83, p. 323.
REPORT.-For calendar years:
Oper.
Cal. Gross earn. Net inc. Net inc. Total
Int. & Bal.
year. E. Tran. E.Tr. Co.Ed.l11.Co. E.Con.E1. Exp.
Taxes.
Div.
1907_ _$350,168 $77,727 $26,270 $103,997 $8,229 $59,525 536,24
109.760
3,299
1906__ 326,693
82,843
27.417
48,500
57.961
Dividends pald in 1907, 537,500 (5%), against $18,750 (234%) in 1906.
leaving a deficit of $1,258 In 1907, against surplus of4$39,211 in 1906.
ROAD.-Embraces practically the entire street railway system of Easton,
South Easton and Philipsburg, with a line from Easton to Bethlehem and
South Bethlehem; total track, including a 12-mile extension built by the
Easton & South Bethlehem Transit Co.from Butztown to South Bethlehem,
about 52 miles. 102 cars.
OFFICERS.-Pres.,Jos. S. Lovering; 1st V.-P., S. H. Hackett; 2d V.-P.,
H. H. Fehr: Sec. and Treas., S. H. Sargent; 511 Chestnut St., Phila.V. 84, p. 450, 693, 1307: V. 85, p. 283, 464, 1461, 1518; V. 86, p. 602;
V. 87, p. 226.
NORTHAMPTON TRACTION CO.ORGANIZATION.-Incorporated on Oct. 13 1902 andwis'a consolidation on Jan. 1 1903 of the Easton & Nazareth Street'
Ry. and the Easton
Tatamy & Bangor Street By. Franchise perpetual.
STOCK AND BONDS- Date.
Interest. Outstanding.
Maturity.
Stock $500,000 (100)
5500,000
First mortgage,$400,000 g.J 1903
5 g J-J
394,000 Jan. 1 1933
cs
lint.at Northampton Tr.Co.(Easton).Trus.
Second mortgage. $100,000 ____
See text.
Bonds.-The first mortgage bonds are in denomination of $100, $200.
$500 and $1,000. A sinking fund of 10% of net earnings is now operative,
but the bonds cannot be called. Part of the second mortgage bonds are
pledged to secure 580.000 of notes.
EARNINGS.-For fiscal year ending June 30 1908, gross, $113,223;
oper. expenses and taxes, $63,779; net, $49,444; interest, $24,863; surplus,
$24,581.
ROAD.-Operates 24 miles of track from Easton to Nazareth and
from Easton to Bangor, chiefly on private right of way. Standard gauge,
60-1b. and 80-1b. steel rail; 18 cars.
OFFICERS.-Pres., T. A. H. Hay: Sec., W. 0. Hay; Treas., Chester
Snyder; Supt., D. L. Beaulieu. V. 80, p. 1972.
EAST ST. LOUIS, ILL.
EAST ST. LOUIS & SUBURBAN CO.-Trolley. (See Map on page 44.)
ORGANIZATION.-Incorporated In New Jersey in 1902 and owns all
the stock and bonds of the East St. Louis Ry., the St. Louis & East St.
Louis Electric By. and the East St. Louis & Suburban Ry., all the stock
of the Alton Granite & St. Louis Traction Co., the Alton Gas & Electric
Co. and the bonds of the St. Louis & Bellevl le Electric By. The East
St. Louis & Suburban Ry. operates all the electric lines in East St. Louis
and to Belleville, Edwardsville, Collinsville annd Caseyville; also a lien
to O'Fallon and Lebanon and an interurban line from East St. Louis
to Venice, Madison, Granite City and Alton; and the only electric line
across the Eads Bridge. In Jan. 1903ffacquired the Citizens' Electric
Light & Power Co.'s plant in East St. Louis. Has 50-yr. exclusive rights
from 1903 to operate cars over the Eads Bridge, the only bridge connecting
St. Louis and East St. Louis. Has contract with city of East St. L. for municinal lirrhting until 1910. Franchises in East St. Louis, Edwardsville. Collinsville, Caseyville, O'Fallon, Belleville and Lebanon are from 44 to 48 years,
with the exception of Belleville (5 miles), which has 16 years to run-all
from 1904. Has 10-year contract from Sept. 1 1903 for city lighting of
Alton. Alton railway franchise expires 1948; Alton electric light franchise
In 1948; Alton gas franchise Is perpetual; Granite City franchise expires in
1925; Madison franchise In 1925; Venice franchise in 1920; Brooklyn
franchise in 1921; and franchise for county road crossings in 1925.
Both stock and bonds have been listed on the Philadelphia Stock Exchange and other stock exchanges.
The following is a list of the stocks and bonds owned and which are
deposited with the St. Louis Union Trust Co. as collateral for the East
St. Louis & Suburban Co. collateral trust bonds.
Constituent Cos.Bonds,
Stock.
East St Louis By Co_ _$1,799,000 (it re iss e)
$1,805,500 entire issue
on
do
St L & E St L Elec Ry. 500,000
499,500 do do
E St L & Suburban Ry 3,681,000
do
do
3,691,300 do
do
St L & Belleville El By 750,000
do
do
Citizens Elec L & P Co. No bonds
224,700 do do
$6,730,000
$6,221,000
The capitalization of the East St. Louis & Suburban Co. is as follows:
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Common $7,000,000 ($100)*7,000,000
Pref $7,000,000 ($100) 5% ---Q-F
7,000,000 ALg '08, 13(
5% cum from May 1906_ _ I
Collateral trust mortgage 581 1902
5 g A-0
7,160,000 April 1 1932
000.000 gold ($1,000)_ __c* Interest at St. Louis Union Tr. Co., Trustee.
or at E. W. Clark & Co., Philadelphia.
A G & St Louis first consoll-1 1904
5 g F-A
2,604,000 Aug. 1 1944
dated mortgage,53,000,000}Int. at Illinois State Tr. Co., East St. Louis,
gold ($1,000)
c*) Trustee, or at Morton Trust Co., N. Y.
1
Alton Improvement Ass'n1889
5 M-S
6,000 Sept.'08-'09
1st M currency $2,500,000. Interest at Alton Savings Bank.
Alton By & Illum first mtge 1895
5 g A-0
244,000 Oct. 1 1915
$250,000 gold ($1,000).. _c* Interest at Manhattan Trust.. N. Y.,Trustee.
Alton By Gas & Electric Co 1899
5 g A-0
250,000 Oct. 1 1939
mortgage $500,000 ($1,000)}Int. at Trust Co. of America, N. Y., Trustee,
gold
c*
No sinking fund; bonds cannot be called.
Bonds.-Besides the $7,160 000 collateral trust bonds reported outstanding, $488,000 are in company's treasury and $352,000 are reserved for
future extensions and improvements. Bonds are redeemable on any
int. day at 105 and interest, on sixty days' notice. See V. 76, p. 382.
Of the $500,000 Alton By. Gas & Elec. Co. bonds, $250,000 are reserved
for prior liens. Of the $2,604,000 Alton Granite & St. Louis 1st consols
reported out, $500,000 are reserved to take up prior bonds and $105,000
are in the treasury of the East St. Louis & Sub. Co. V. 81, p. 973. The
remaining $396,000 of the bonds are for extensions and improvements.
They are also a lien on the property of the Alton Gas & Electric Co., which
was owned by the Alton Granite & St. L. Trac. Co. when the mort. was
made. No sinking funds, but bonds are subject to call on any Interest
date at 110 and interest upon 90 days' notice.
Dividends.-5% per annum has been paid quarterly on preferred since
May 1 1906 up to and including Aug. 1 1908.
REPORT.-For year ending Dec 31 1907, gross, $2,157,443; net,
$1.029,548; fixed charges, *545,358; preferred dividend, $350,000; surplus.
$134,190. In 1906, gross, 52,041.451; net, $978,681.
ROAD.-Operates 181 miles of track, including all the lines in East
St.Louls and Alton, a double-track road from East St. Louis to Belleville,
a single-track line to O'Fallon and Lebanon, and also a single-track line to
Alton. Has 184 cars.
OFFICERS.-Pres., C. M. Clark: V.-P., E. W. Clark; Sec. and Asst.
Treas., G. L. Estabrook; Treas.. C. A. Pearson Jr.; Asst. Sec.. T. W.
Gregory. Office of Suburban Co., Camden, N. J.; operating company at
East St. Louts.-V. 83, p.271, 687, 969. 1170.
[VOL. LXXX-VII.
ELECTRIC RAILWAYS
44
.1.1111=1111111lIPMNIMIEMENIIMMIMI
MAP OF THE
EAST ST. LOUIS
rigliton
AND
SUBURBAN COMPANY.
Mileage on Single Track Basis 175 Miles,
Dorsey
\\
Woods
Dlora
..i5
Upper Alton
----L\r,
oP. 2,000
Worden
L-/---'
enter
Manix
0
A
RDSVI LLE
Fruit
p. 6,00
,
To..
SUBSTATION
LLI NSV I LLE
Pop.. 7,500
Lou
NASH
SEPT, 1008.1
ELECTRIC RAILWAYS
EAU OLAIRE, WIS.
CHIPPEWA VALLEY RAILWAY LIGHT & POWER CO.
45
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
1st con mtge, $4,000,000, g 1907
5 g J-J
$1,000,000 Jan 1 1937
($1,000)
c•J Int. at Trust Co. of No. Am.,Phila.. Trustee.
Evansville El By 1st mtge, 1901
4 g M-N
1,200,000 May 1 1921
$1,200,000, gold ($1,000)0 Int. at Farmers' L. do Tr. Co., N. Y., True.
Evansv do Prince 1st mtge,} 1903
5 g A-0
400,000 April 1 1923
$400,000, gold ($1,000), Int. at Cit. Say. & Tr. Co., Cleve., Trustee,
sinking fund
c&r
or at First National Bank, New York.
Stock.-Preferred stock is entitled to dividends of 3% in 1908; 4% in
1909; 5% In 1910 and thereafter.
Bonds.-Of the $4,000,000 new bonds, $1,600,000 are reserved for prior
Are subject to call on any int. date before Jan. 1 1912 on 60 days'
liens.
notice at 105 and interest.
The Evansville ec Princeton first 5s have a sinking fund of $10,000 per
annum commencing on Feb. 1 1008, said fund to be invested in the bonds
at 105, beginning with No. 1. Whole issue of these bonds may be called at
any time at 110 and interest
Geo. B. Denison of Cleveland Is co-trustee
of this mortgage
EARNINGS.-For year ending Dec. 31 1907, gross, $364,094; net,
$137,191.
ROAD.-Owns about 65 miles of track in Evansville and between Evansville, Princeton and Patoka. 60, 70 and 75-lb. T-rails. Also owns park
and pleasure resort.
OFFICERS.-Pres., Jas. Murdock; V.-P., H. B. Smith; Sec. and Treas.
C. M. Murdock; Gen. Mgr., Fletcher M. Durbin; Aud., J. G. McKee.V. 84 p. 158, 339, 1366.
ORGANIZATION.-Incorporated In 1898 under the laws of Wisconsin.
Owns the Chippewa Valley Elec. RR., in which the Eau Claire Light &
Power Co. has been merged.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
$800,000
_
Common,$800,000 ($100)---100,000 Sept'08,1 y,
7 Q-M
Pref 7% cum,$200.000 ($100) ---650,000 July 1 1924
First mortgage $2,000,0001 1907
5 J-J
c•fInt. at Harris Tr. & Say. Bk., Chicago, Trust
($1,000) gold
Bonds.-Of the new $2,000,000 bonds, $200,000 may be issued for 75%
of cost of extension to Menominee; remainder can be issued for 75% of
cost of other permanent extensions, additions and improvements,provided
net earnings for preceding year have been twice annual interest charges,
including interest on bonds to be issued. Are subject to call on and after
July 1 1913 at 105 and Interest, $4,750 prior liens remain outstanding, but
as sufficient proceeds have been set aside from sale of outstanding bonds to
retire these, we omit them from the statement. Sinking fund begins 1913
V.85. p. 1461.
Dividends -Dividends of 1 84% are paid on pref each quarterly
EARNINGS.-For year ending June 30 1908, gross, $160,243; net, after
taxes, $71,854; interest on $650,000 first mortgage bonds. $32,500; surplus,
$39,354.
ROAD.-Operates 22% miles of road in Eau Claire and Chippewa Falls,
including an interurban line between them. Owns all the water powers
on Red Cedar River and does all electric lighting and power business in
Eau Claire.
EVANSVILLE RAILWAYS CO
OFFICERS.-Pres.,;0. H. Ingram; V.-P., John S. Owen; Sec. and Gen
ORGANIZATION.-Incorporated In Indiana in August 1907 to control
Mgr., Geo. B. Wheeler; Treas., B. A. Buffington; Asst. Mgr. A. E. Pierce the Evansville & Eastern Electric Ry. and the Evansville & Mt. Vernon
Jr.-V. 85, p. 1209, 1461.
Electric Ry. Owns all the stock of the latter road and 98% of the stock
of the former. In Nov. 1907 authorized $500,000 preferred stock. V. 85.
p. 1401.
ELMIRA, N. Y.
On March 7 1908 the Evansville Terminal Ry. was Incorporated in
ELMIRA WATER. LIGHT & RAILROAD COMPANY.
Indiana to build a line from Newburgh to Evansville (9 miles) between
ORGANIZATION.-This company was incorporated on May 26 1900 which points the Evansville and Eastern Elect. By. now uses the tracks
for the purpose of consolidating all the water, lighting, power and street of the Evansv. Sub. do Newburgh Ry. The entire $200,000 stock of
railway properties in Elmira, comprising the following: The Elmira Munici- Evansv. Term. By. Is owned by the Evansv. Rys. Co. Subscribers to
pal Improvement Co.; the Elmira do Horseheads Ry.; the Maple Avenue the $200,000 bonds of the Terminal Ry., offered in May 1908 at 90. were
Ry.; the West Water Street RR.; the West Side Railway Co.; the Elmira given a bonus of 30% in pref. stock of the Evansv. Rys. Co. V. 86,
Gas & Illuminating Co., the Elmira Illuminating Co.; the Elmira Water- p. 1100.
STOCK AND BONDSWorks Co. and the Elmira Heights Water Co. In May 1906 we were inLast Div.
Date
Rate.% Outstanding.
formed that none of the franchises had less than 99 years to run, while some Common, $1,000,000 ($100)_
$900,000
of them were perpetual. In Sept. 1906 purchased the entire capital stock Pref., $500,000, 6% cum
J-J
160.000
Evans do E Elec By 1st mon-) 1906
and bonds of the Elmira do Seneca Lake Traction Co.
550,000 April 1 1936
5 g A-0
gage, $750,000, gold ($500 }Int. at American Trust & Say. Co., EvansInterest. Outstanding. Maturity.
STOCK AND BONDSDate.
and $1,000)
c*1 ville, or Pittsburgh Tr. Co., Plash., Trus.
$1,000,000
Common $1,000,000 ($100)
Evans & Mt V Elec Ry 1st MJ 1905
350.000 Oct 1 1925
5 g A-0
667.200 Sep.1'0823
Pref. 5% cum., $1,000,000___
5 M-S
$350,000, gold ($1,000)_c*lInt. at Amer. Tr. & Say. Co., Evansv., Trus.
339,000
1913
Elmira Water- Vorks first intg_l___6 A-0
Evansv. Term. By. 1st mtge 1908
5 J-J
200,000 Ja.. 1 1939
$339,000 ($1,000 and $500) .1 Int. at Farmers' L.&.Tr.Co., N.Y., trustee.
$300,000 gold
c}Int. at Am. Tr. & Say. Co., Evansville, trust.
355,000 Oct 1 1014
5 g A-0
West Side RR gold first mod-( 1894
go. p.&l. by Evans.Rys.CoI and Ills. Tr. & Say. Bank, Chicago.
gage
IJ. B. Rathbone, V.-P., Chemung Canal
Stock and Bonds.-Pref. stock can be called any time at par. Of the
Trust Co., Elmira, Trustee.
Electric By. bonds. $200,000 are re1.661,000 Jan 1 1949 Evansville & Eastern
5 g J-J
First mortgage $2,000,000.1 1900
served for extensions and Improvements at 85% of cost. Are subject to
gold ($1,000 and $500)._0( United States Mortgage & Tr., N. Y., Trust. call, in whole
or in part, at 105 and interest on any interest day upon 90
( Subject to call at 105 and interest.
4 g Mch
11,000 Jan. 11049 days notice; $2,500 is payable annually to a sinking fund from 1910 to
Second mortgage income non-i 1900
1920; from 1921 to 1936, $5,000 per annum. The Evansville do Mount Vercumulative $1,200,000 gold Guaranty Trust Co. of New York, Trustee. non
Elec. By. bonds have a sinking fund of $10,500 per annum,pommtnccall
at
100.
Subject
to
($1,000)
J 1906 5 g M-S
ing
Oct. 1 1910, to be Invested in ten bonds annually at 105. Subject to call
1st eoneol mtge, $5,000,000
1,266,700 Sept 1 1956 at any
interest period at 110.
c* Int. at New York Trust Co., Trustee.
($1,000), gold
ROAD.-The Evansville & Eastern road consists of 25 miles of track
Bonds.-Of the 1st 5s of 1000 $339,000 are reserved to retire at maturity from
Newburgh
(from which point it enters Evansville over the tracks of
the bonds of the Elmira Vat. Wks. Co., due '13. $355,000 outstand. bonds the Evansv. Sub. & Newburgh
Ry.) to Rockport. Including a 3-mile branch
of the West Side RR. and the Elmira Hghts. Water Co. are guaranteed. Of to Richland. The Evansville
& Mt. Vernon road consists of 18 miles of
1906
$2,376,000
mtg.
of
are
consul.
reserved for prior liens. V. 83, track from Evansville
the 1st
to Mt. Vernon. Total length of lines, 43 miles.
p. 393; V. 88, p. 720.
Extensions aggregating 25 miles are projected to Grand View, Troy. Tell
Dividends.-lst dividend on preferred, 2%, paid Sept. 1907. In City
and Cannelton. Both roads do a freight business.
1908, March 234%; Sept. 2 %.
OFFICERS.-Pres., William L. Sonntag; V.-P., W. J. Rudd; Sec..
ROAD.--Comprises 27% miles of track,controlling all the principal streets
W. Reitz; Treas., M. S. Sonntag; Gen. Mgr., C. A. Carson.-V. 84.
In Elmira and connecting the suburban towns of Elmira Heights, Southport Fred.
and Horseheads, and 17 miles from Horseheads to Watkins, via Millport p. 942, 1551; V. 85, p. 1401; V. 86. p. 1100.
and Montours Falls, to Seneca Lake. Equipment consists of 40 closed cars,
32 open cars and 11 trailers. Track laid with 75 and 90-lb. girder rails.
EVANSVILLE SUBURBAN & NEWBUROH RY.
Owns Rorick Glen Park.
ORGANIZATION.-Incorporated
Indiana in Dec. 1888, with a perREPORT.-Earnings for year ending June 30 1907 were: gross, $661,622; petual charter. Passenger business in
hauled by electricty and freight by
net, $251,902; fixed charges. $168,885; surplus, $83,017.
OFFICERS.-Pres.. Ray Tompkins; V.-P., George Bullock; Sec. and steam. Does a car-lot freight and express business. Has private right-ofTreas., H. M. Beardsley; Asst. Sec., A. 0. Cooke, 40 Wall St., N. Y. way.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Gen. Mgr., S. J. Dill.-V. 72, p. 935, 988; V. 82, p. 1166; V. 83, p. 893; Stock,
$500,000 ($100)
$307,400
V. 86, p. 720.
5 g J-J
500.000 July 1 1934
1st mortgage, $500,000, gold) 1904
•
c* Interest at Evansville Trust & Say. Co.,
($500 and $1,000)
Trustee, or Nat. Bank of Commerce. N. Y.
EL PASO, TEXAS.
Bonds.-A sinking fund of $2,500 per annum commences July 1 1910,
EL PASO ELECTRIC CO.-Incorporated in New Jersey and owns the which will retire bonds at 105. All or any part of bonds are redeemable
securities of the El Paso Elec. By. Co. and the El Paso & Juarez Trac. Co., after 15 years at 105.
comprising practically all the electric lighting and the entire street railway
EARNINGS.-For year ending Dec. 31 1907, gross, $119,592; net
business of El Paso, Tex., and Juarez, Mexico. Railway franchise In El $58.074: In 1906, gross, $69,075: net, $35.845.
Paso expires in 1951; in Juarez In 1988. Lighting franchise in El Paso exROAD.-Operates 25 miles of track from Evansville to Newburgh, with
pires in 1952; in Juarez in 1915.
a branch oft the main line through Stevens Station and Chandler, to BoonInterest. Outstanding. Maturity. ville* has also 5 miles of side-track: total, 30 miles. Standard gauge.
STOCK AND BONDS- Date.
Common, $1,000,000($100)$1,000,000
70-lb. T-rails.
Pref $500,000 6% n-c ($100)
430,700 Jiy 13'08.3%
6 J-J
OFFICERS.-Pres., F. W.Cook: V.-P., Lee Howell; Sec. and Gen. Mgr.,
041,000 Jan 1 1932 Gus. Mulhauser; Treas., S. P Gillett. V. 83. p. 271.
Collat trust mtge $1,000,0001 1902
5 g J-J
($1,000) gold
lint at State Street Trust Co, Boston, Trustee
Notes $500,000 gold ($100,) 1908
327,600 Jan 15 1913
6 J-J 15
$500 and $1,000)
c1Int. at State Street Tr. Co. Boston, Trustee.
EVERETT, WASH.
Notes payable July 31 1908
70,000
EVERET'T RV. LIGHT & WATER CO.
Bonds.-The 1908 notes are convertible at option of holder into common
Leased.--Leased to the Puget Sound International Ry. & Power Co.. a
stock at par; can be called on 60 days' notice on any interest date after
Nov. 1 1910 at par and Interest; $172,400 are in treasury of company. Stone & Webster property incorporated in Maine June 5 1907 to build a
The 1902 collateral trust bonds cannot be called and no sinking fund; road between Seattle, Everett and Bellingham, Wash., and to develop electric railway, lighting gas and water-power properties in the Puget Sound
$59,000 arc In treasury of company.
Dividends.-First div., 3% on pref. stock, was paid Jan. 12 1903; also 3% district. V. 85, p. 123.
ORGANIZATION.-Incorporated in Delaware on Feb. 22 1905 and is a
on July 13 1903. In 1904, 8%; in 1905, 6%; in 1906. 6%; in 1907, 6%
consolidation of the Everett Ry. de Elec. Co. and the Everett Water Co.
in 1908. Jan., 3%; July, 3%.
EARNINGS.-For 12 months ending June 30 1908: Gross. $533,492; Owns entire electric-railway system of Everett and Lowell, and does greater
net, $157,078; charges, $79,117; balance, $77,961; in 1906-07. gross, $444.- portion of electric-lighting business in Everett, Lowell and Marysville.
Owns pubic water supply system throughout Everett and Lowell. Rail506; net, $113,214; charges, $61,104; balance, $52,110.
ROAD.-Operates 26 miles of track in and between El Paso, Tex., and way franchises expire 1944 and 1950; lighting franchise expires 1950 and
water franchise 1945.
Juarez, Mexico; chiefly 60-lb. T rail; 46 cars.
STOCK AND BONDS- . Date.
Interest. Outstanding. Maturity.
OFFICERS.-Pres., G. E. Tripp; V.-P., Joseph Remick; Treas., A.
$2,000,000
Stuart Pratt; Sec., Alvah K. Todd; Mgr., C. W. Kellogg Jr.; Trans. Agts., Stock, $2,000,000 ($100).
675,000 April 1 1925
5 g A-0
Stone & Webster, Boston.-V.76, p. 158; V. 83, p. 323; V. 85, p. 1269; 1st mortgage, $2,000,000,1 1905
gold ($1,000)
cjInt. at Manhattan Tr. Co., N. Y., Trustee.
V. 86, p. 1409.
Everett Ry do Electric 1st) 1901
825.000 April 1 1921
5 g A-0
mortgage, $1,000,000, gold }Int. at Manhattan Tr. Co., N. Y. Trustee.
ERIE, PA.
($1,000)
to call.
1No sinking fund and not subject'
500,000 July 1 1921
ERIE TRACTION CO.
Everett Water Co 1st mtge,1 1901
5 g J-J
In 1908 control changed hands and officers elected as below.
$600,000 ($1,000)
cal Int. at Manhattan Tr. Co.. N. Y., Trustee.
Bands.-Of the new $2,000.000 mortgage, 11,325.000 are reserved to
ORGANIZATION.-Incorporated in Pennsylvania on April 16 1901.
Interest Outstanding. Maturity. retire prior liens. No s. f., but bonds subject to call on any int. date upon
STOCK AND BONDS- Date.
80 days' notice at 107;i and interest.
Stock, $500,000 ($50)
$500,000
EARNINGS.-For calendar year 1907. gross. $350,845; in 1906, gross,
5 g J-J
1st mortgage. $500,000 gold)1907
500,000 July 1 1929
$293.214.
$1,000 $5.000 do $10,00001Int. at Sec. Say. & Tr. Co.. Erie, trustee.
ROAD.-Operates 20 miles of track in Everett, including branch to
Loans payable June 1907
__
98,700
Bonds.-A sinking fund of $20 for every $1,000 bond commences July 1 Lowell and Snohomish, 6.19 miles, leased from the N. P. RR. Co. for 3
1912. Subject to call in entirety after 5 years at par. The old bond years with privilege of renewing for 7 years more. Standard gauge. 20 cars.
OFFICERS.-Pres., E. W. Purdy, Bellingham; Treas., H. B. Sawyer.
issue of 1809 has been retired.
EARNINGS.-For year ending June 30 1908: Gross, $89,057; net. $15,- Boston; Asst. Treas., R. E. Maxfield, Everett; Mgr., W. I. Sturtevant,
Gen. Mgrs., Stone & Webst,r, Boston.-V. 80, p. 2219.
684; fixed charges. $38,748; deficit, $23,064.
ROAD.-Operates 27;4 miles of track from Erie to Edinboro and Cambridge Springs. Standard gauge. 60-lb. and 70-lb. girder and T-rall.
OFFICERS.-Pres., F. F. Curtze; V.-P.. Wm. Spencer; Sec.-Treas..
FAIRMONT, W. VA.
Chas. M. Hatch, All of Erie, Pa.
FAIRMONT & CLARKSBURG TRACTION CO.
ORGANIZATION.-Incorporated in West Virginia in June 1903 and is
successor to the Fairmont & Clarksburg Electric RR. Co. Is controlled by
EVANSVILLE, IND.
interests identified
the Consolidation Coal Co. of Maryland and allied
EVANSVILLE & SOUTHERN INDIANA TRACTION CO.-Trolley. properties. V. 80,with
p. 600. Does a lighting business in Fairmont, where
ORGANIZATION.-Incorporated in Jan. 1907 and is a consolidation of both lighting and street railway franchises are perpetual;franchise in Clarksthe Evansville Elec. By. and the Evansville Princeton do Vincennes Inter. burg 50 years. Has made agreement with Fairmont & Mannington
Ry. Franchises expire in 1951 and 1952.
Traction Co. to handle all business from end of latter company's line Into
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity. Fairmont and also to furnish power for operation of Fairmont & ManningCommon, $3,000,000 ($100).
$2,000,000
ton Traction. V. 87, p. 544. On June 16 1908 stockholders authorized
Pref, $1,500,000 ($100) see text
1,000,000
the issue of $2,500,000 pref. stock given below.
ELECTRIC RAILWAYS[VOL.Lxxxvu..
46
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,800,000
.
Stock, $2,000,000 ($100)
1,440,000
Preferred, $2,500,000
5 g A-0
2.500,000 Oct 1 1938
1st mortgage, $2,500,000, 1903
c• Int at Guaranty Tr. Co., N. Y., Trustee,
gold ($1,000)
Bonds.-Are subject to call, beginning Oct. 1 1913, at 105 and Int.
EARNINGS.-For year ending Dec. 31 1907, gross, $389,973; net income, $232,764; Int. and charges, *169,590; surplus, $63,174. In 1906,
gross, $238,272; net Income, $130,049; int. and charges, $98,314; surplus
$31.735.
ROAD.-Operates street railways In Fairmont, W. Va., and also In
Clarksburg, W. Va., and an interurban line of 27 miles connecting the two;
with various small branch lines; total, 435,i miles of track. Standard
gauge; 70 and 85-1b. T rail.
OFFIC ERS.-Pres., S. L. Watson; V.-P., C. W. Watson; Sec. and Treas.,
Walton Miller; Gen. Mgr., Geo. T. Watson.-V. 76, p. 1406; V. 77, p. 950;
V. 80, p. 600; V. 86, p. 1343; V. 87, P. 480, 544.
FARGO, NORTH DAKOTA,
FARGO & MOOREHEAD STREET RY. CO.-A trolley road.
ORGANIZATION.-Incorporated 1904 in North Dakota. Stock,
$300,000 i$100) issued. Bonds authorized and outstanding, $200,000
($500) 20-year 5% 1st mtge. and $100,000 ($500) 6% 20-year 2d mtge.;
both issues due 1925; Int. J-J and subject to call after 5 years at 105; principal and int. payable in gold, 1st mtge. bonds at State Bank of Chicago,
trustee, 2d mtge. bonds at Luzerne Trust Co., Wilkes-Barre, trustee.
Earnings for 1907, gross, $85.000; net, $35,000. Operates 13 miles between Fargo, N. D., and Moorehead, Minn.AStandard-gauge, 70-1b. Trail. Pres., L. B. Hanna, Fargo.
Fort Smith Traction Light & Power Co. Does the entire electric light,
gas and street railway business of the city and the electric-light and gas
business of Van Buren. Street railway, gas and electric-light frwichises
expire in 1955.
Date.
STOCK AND BONDSInterest. Outstanding. Maturity.
Common,$950,000 ($100)_
$950,000
Pref. $650,000 ($100), see text
850,000
5 g Q-M15 1,110,000 Dec 15 1944
Consol mortgage, $1,500,000. 1904
c* Int. at Cent. Tr. Co., of III., Chic., Trustee
gold ($1,000)
First Nat. Bk., Bost., or 1st Nat. Bk., N.Y.
5 g M-N15
200,000 May 1 1933
1st mortgage, $300,000, gold,' 1903
cjInt. at St. Louis Union Trust Co., Trustee.
($1,000)
$170,000
Coupon notes
Stock and Bonds.-The preferred stock is 5% and is cumulative after
Jan. 1 1907. First mtge. bonds have no sinking fund, but all or any part
of bonds subject to call after one year upon any interest date. Of the $1.$500,000 new consols, $200,000 are reserved for prior liens and $190,000 are
deposited as security for above coupon notes. These bonds are subject to
call at 102 and interest after 5 years. A sinking fund of $15,000 per annum
commences Dec. 15 1914. V. 80, p. 996. In addition to bonds in table
above, there are 348.500 2d mtge. bonds out, due in 1910; $52,974 in cash
has been deposited with the trustee to retire these bonds.
EARNINGS.-For calendar year 1907, gross, $309,842; net, $125,039;
Interest. $81.809; surplus, $43,230.
ROAD.-Operates 20 miles of track on 12 miles of streets in Ft. Smith
and suburbs. Standard gauge, 58-1b. and 60-1b. T rail. 36 cars. Owns a
park of 107 acres. Also gas works for distributing natural and artificial gas,
with about 43 miles of mains; and electric power and lighting plant-generating capacity about 1,742 horse power and pole line of about 60 miles.
OFFIOBRS.-Pres.. A. S. Huey; V.-P., H. M. Byllesbn Sec., Jas. BrizN. 1. Garrison.
z lara; Treas Ge . Se,ntel; Gen. Mgr. W.Gillette
-V. 79, p. 2085; V. 80, p. 096; V. 82, p. 928; V. 83, p. 213.
FISHKILL-ON-THE-HUDSON, N. Y.
F1SHKILL ELECTRIC RAILWAY CO.-A trolley road.
Leases the Citizens' Street RR. Light & Power at a rental of $8,225 per
annum.
Date.
STOCK AND BONDS.
Interest. Outstanding. Maturity.
Stock, $50,000
*50,000
1895
6 J-J
First mortgage, $50,000
1915
50,000
EARNINGS.-For year ending June 30 1907, gross, $51,181; net,
$19,273; charges, $8,820; balance, $10,453.
and
leases
3
miles. Total 7
ROAD.-Owns 4 Y,
miles.
OFFICERS.-Pres., John T. Smith; V.-P., W. J. Conklin; Sec., W. H.
Southard; Treas., G. W. Patterson.
FITCHBURG, MASS.
FITCHBURG & LEOMINSTER STREET RY.
In April 1905 absorbed the Leominster Shirley & Ayer Street By. through
exchange of stock, share for share. V. 80, p. 1478. In Sept. 1907 Mass.
RR. Commission sanctioned increase in stock from $450.000 to $700,000.
New stock to be Issued at 110. Company has now petitioned Commission
to allow stock to be issued at 100. V. 85, p. 722.
Interest. Outstanding, Maturity.
STOCK, BONDS, ETC.- Date.
Stock (au,$700,000; par,$100)
$450,000
See text
5 A-0
Fitch & Leo 1st mtge ($500), 1897
150,000 April 1 1917
c Interest at First National Bank, Boston.
$150,000
4j F-A
150,000 Feb 1 1921
Fitch & Leo con mtge. $350,- 1901
Int. at Boston Safe Dep. & Tr. Co., Trustee.
000 ($1,000)
5 g F-A
100,000 Feb 1 1921
L S & A 1st mtge, $100,000J 1905
c* Int. at Boston Safe Dep. & Tr. Co., Trustee.
gold ($1,000)
Guar, p & 1, by Fitch. & Leom. St. By.
560,823
Current liabilities Sept. 30 1907
Bonds.-Of the new consol. mtge., $150,000 are reserved to retire the
1st mtge. at maturity.
DIVIDENDS.-For many years up to and including 1900-1901, 8 %* in
1901-02, 8%; in 1902-03, 6%; in 1903-04, 6%; in 1904-05, 6%; in 1905-06,
6%; in 1906-07, 6%; in 1907-08. 6%.
ROAD.-Owns 40.7 miles of track. Road extends to Leominster,
Lunenburg, Shirley and Ayer. 28 closed passenger cars, 26 open passenger
cars and 5 snow plows.
EARNINGS.-For years ending Sept. 30:
1907.
1906.
1907.
1906. 1
$260,468 $250,997'Dividends
Gross
_ _$27,000 $27,000
126,913
122,070 I Balance, surplus
Net
paid_-for
Interest, taxes, &c 92,064
7,849
11,881
83.1891 year
OFFICERS.-Pres., H. A. Willis; V.-P., H. I. Wallace; Clerk and Counsel. C. F. Baker; Treas., R. N. Wallis; Supt. and Purch. Agent, W. W.
Sargent, all of Fitchburg.-V 72, p 87; V. 80, p. 1478; V. 85, p. 468, 722.
FOND DU LAO, WIS.
EASTERN WISCONSIN RY. & LIGHT.-Trolley.
Same Interests control Wisconsin Electric By. (V. 87, p. 346). See
latter under Oshkosh.
ORGANIZATION.-Incorporated in Wisconsin in Sept. 1903 as a con.
solidation of the Fond du Lac St. Ry. & Light Co. and the Fond du Lac &
Oshkosh Electric By. Co. Comprises the entire street railway, electriclighting and gas plants in Fond du Lac. Franchises expire in 1951. Has
contract with city of Fond du Lac to light streets, expiring in 1913.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDSStock,$500,000 ($100)------$500, 00
5 g J-J
1920
Fond du Lac St Ry&L mtge ___
192,500
$250,000 ($1,000), g...r&c* Int. at Milwaukee Trust Co., Trustee.
5 g A-0
1st mtge, $1,500,000, gold 1903
712,000 Oct 1 1923
c*jInterest at Milwaukee Trust Co., Trustee.
($1,000)
Bonds.-$525,000 are reserved for improvements at 00% of cost and
$212,000 for prior liens. Bonds are subject to call on any interest date at
103 and interest upon six months' notice. The Fond du Lac St. Ry. & L.
bonds cannot be called. They are guaranteed, p. &
by the Eastern
Wis. By. & Lt. Co.
•
ROAD--Operates 25 miles of track in Fond du Lac and between Fond
du Lac and Oshkosh. 70-lb. T rails.
EARNINGS.-For year ending Dec. 31 1907. gross, $218,611; net, after
In 1906, gross, $189,996; net after taxes, $73,658.
taxes, $83,855
OFFICERS.-Pres., C. C. Smith; Sec., H. F. Whitcomb Jr.; Treas.,
Wm. E. Cole; Gen. Mgr., R. T. Gunn.-V.81, n. 668, 974; V. 83, p. 1347:
V. 86, p. 1529; V. 87. p. 346.
FORT DODGE, IOWA.
FORT DODGE DES MOINES & SOUTHERN RR.-See "Railroad and
Industrial" section.
FORT SCOTT, KAN.
THE FORT SCOTT OAS & ELECTRIC CO.
ORGANIZATION.-Incorporated in Kansas in 1900, and is successor
to the Fort Scott Electric Light & Power Co., Citizens' Electric Street Ry.,
Fort Scott Steam Heating Co. and Fort Scott Gas Co. Franchise expires
April 23 1922.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDSStock, $300,000 ($100)$300,000
1st mortgage, $250,000, gold' 1903
5 g A-0
200,000 April 1 1922
($500), sinking fund_
Int. at Chicago Title & Trust Co., Trustee.
Bonds.-Of the $250,000 authorized, $50,000 are reserved for extensions.
Are subject to call on April 1 1908 at 105 and interest. The following
amounts are payable annually to a sinking fund, In 1908 and 1909, 83,500
per annum; In 1910 and 1911, $4,000 per annum; in 1912 and 1913, $4,500
per annum; in 1914 and 1915, $6,000 per annum; in 1918 and 1917, $7,000
per annum, and from 1918 to 1921 inclusive, $10,000 per annum.
EARNINGS.-For calendar year 1905, gross, $68,647; net, $31,487
fixed charges, $13,487; surplus, 317.980.
ROAD.-7 miles of track in Fort Scott. Gauge, 4 ft.; 45-lb. T-ralls.
OFFICERS.-President, Grant Hornaday; V.-P., C. F. Martin
Sec., F. A. Hornaday; Treas. and Supt., F. D. Martin.-17. 77, p. 1294.
FORT SMITH, ARK.
FORT SMITH LIGHT & TRACTION CO.
In July 190d a large block of the stock changed hands. V. 83, p. 213.
ORGANIZATION.-Incorporated in Arkansas on April 13 1903 as a
consolidation of the_Fort Smith-Van Buren Light & Transit Co and the
FORT WAYNE, END.
FORT WAYNE & WABASH VALLEY TRACTION CO.-A trolley road.
Controlled by the same interests as the Indiana Union Traction, the Ohio
Electric By. and the Terre Haute Indianapolis do Eastern.
ORGANIZATION.-Incorporated in Indiana on May 29 1903 as the
Fort Wayne Logansport Lafayette & Lima Traction Co., but name was
changed to above on Feb. 17 1904. Is a consolidation of the Fort Wayne
Traction Co.. the Lafayette Street By.,the Logansport By. Co., the Logansport Rochester & Northern Traction Co., the Wabash River Traction Co.
and the Wabash Logansport Traction Co. In Oct. 1904 purchased the Ft.
Wayne & Southwestern Trac. Co., which had previously acquired the Ft.
Wayne Elec. Lt. & Power Co. In July 1908 purchased the Fort Wayne
Power Co. See V. 79, p 1955, 2147. Owns entire capital stock of the.
Ft. Wayne Bluffton & Marion Traction Co. and entire capital stock ($500,000) of Lafayette & Logansport Traction Co., which see below. Franchises
expire from 1935 to 1991 but some are perpetual.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$6,000,000
Common, $8,000,000 ($100)_
1,500,000
Pref,see text, $1,500,000 ($100) ____
6,90 000 Mch 1 1934
5 M-S
1st cons mtge $7,500,000, 1904
c* Int. at Tr. o. of No. America, Phila., Trust.
gold ($1.000)
1931
275,000
5 g F-A
Wabash Riv Tr Co 1st mtge, 1901
c* Int. at N. Haven Tr. Co., N. Haven,Trustee,
$350,000 ($1,000), g
1929
29,000
4 g A-0
Ft Wayne Tr mtge 81,500,-I 1899
c* Int. at Guard. Trust Co., Cleveland, Trustee.
000, gold ($1.000)
225,000 June 1 1913
8 J-D
Lafayette St By 1st mtgef 1893
each).
($1,000
$225,000_c* Int. at Real Estate Trust Co., Phila., Trustee
Stock.-The preferred stock is 5% cumulative after Dec. 1 1908 and may
be redeemed after Nov. 30 1914 at par and unpaid dividends. See V. 79.
p. 2747. Both corn, and pref. are listed on Philadelphia Stock Exchange.
Bonds.-Of the new mtge. for $7,500,000, $534,000 are reserved to retire
underlying liens and remainder ($2,000) for Improvements, extensions, &c.
See V. 78. p. 2011. In addition to bonds noted above, there are $3,500
bonds of the Logansport By. outstanding. The new consols of 1904 are
not subject to call bfeore maturity. The Wabash River Trac. Co. 5s of
1901 are sublect to call at any time at 105 and Interest.
ROAD.-Operates 143 miles of main track, comprising the inside lines
in Ft. Wayne Huntington, Peru, Wabash and Logansport, and the interurban road connecting those cities; also the city lines in Lafayette. An extension to Lafayette has been built by the Logansport Fe Lafayette Traction
Co., which is controlled by this company. Total track, including controlled
companies and sidings, 212 miles. At Logansport, Peru, Wabash and Bluffton connection is made for Indianapolis over tracks of Indiana Union Trac'lo On- In May 1905 began through service between Ft. Wayne and Indianapolis over tracks of Indiana Union Traction Co. See V. 82, p. 1101
Rails, 60,70,72,80 and 90-1b. In Oct. 1907 began operating cars between
Ft. Wayne and Lafayette. Owns 3 power houses and 4 pleasure parks,
Has 81 closed and 88 open cars and 117 motor equipments. Controls
entire electric light and power business of Ft. Wayne.
Latest Earnings.-For 7 months ending July 31 1908, gross, $730,670;
net, $304,595. In 1907, gross, $686,772; net, $269,791.
REPORT.-For calendar years ending Dec. 31:
1907.
1904.
1900.
1905.
*1,283,722 $1,109,032
$949,298 $834,801
Gross earnings
676,846
746,036
580,832
533,295
Operating expenses
Net cal nings
Other income
$537,686
59
$432,186
160
$368,466
199
$301,506
430
Total income
Fxed charges
$537,745
427,315
$432,346
364,232
$368,665
317,859
$301,936
243,506
$110,430
868.114
850,800
$58,430
Surplus
OFFICERS.-Pres., J. Levering Jones; 1st V.-P., Charles M. Murdock;
2d V.-P., Hitch J. McGowan; Sec., Henry Rainey; Treas., Henry C. Paul.
DIRECTORS.-Randal Morgan, J. Levering Jones, John J. Collier and
Howard H. Henry of Philadelphia; H nry C. Paul and John Barrett of
Ft. Wayne; James Murdock and Charles M. Murdock of Lafayette, and
Hugh J. McGowan Indianapolis.-V.82, v. 1101; V. 83, D. 37.
• (1) Ft. Wayne Bluffton & Marion Traction Co.-A trolley road.
ORGANIZATION.-Incorporated in April 1905. Stock all owned by
Ft. Wayne & Wabash Valley Traction Co., which guarantees the bonds,
principal and interest. Is leased to guarantor for 99 year,
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDSComm
$300.000
See text
Preferred,$250,000---- See text.
1st mtge, $400,006. ------- -1-905
$400,000 July 1 1935
5 g J-J
j Int. at Guar.Tr. & S. D. Co., Phila., Trustee
($1,000), guar
ROAD.-Comprises 23 miles of track between Ft. Wayne and Bluffton.
70-1b. rails.-V. 81. p. 507.
(2) Lafayette & Logansport Traction Co.
ORGANIZATION.-Incorporated in 1906 in Indiana. All the stock
is owned by the Ft. Wayne & Wabash Valley Traction Co., which
guarantees the bonds, principal and interest. Nearly all private right of
way; franchise in Lafayette, 50 years; in Logansport, 92 years; others
perpetual.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity
Stock $500,000
50 000
First mortge.$1,000,000 gold 1908
$900,000 June 1 1936
5 g J-D
($1,000) guar. prl. & Int c* Int. at Guar. Tr. & S. D. Co.'Phila., Trustee.
Bonds.-IternalnIng $100,000 are reserved for extensions, betterments,
&c. at 85% of cost.
RbAD.-Operates 35% miles of track from Lafayette. via Delphi to
Logansport. 70-lb. rails. Was completed July 1 1907. V. 87. p. 166.
--FORT WAYNE & SPRINGFIELD RAILWAY CO.-A trolley road.
ORGANIZATION.-Incorporated July 2 1903 in Indiana. In April
1908 increased stock from $500,000 to $1,000,000,to provide for cost of
extension to Berne. Ind. V. 86. p. 1042.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date,
$354,000
Common, $1, 00,000 ($100)0
0roto
g)
5 g J-D
21,000 June 1 1926
lstanli.
age, $300,000 gold 1906
c* Interest at Cleveland Trust Co., Trustee.
Bonds.-Are subject to call at 105 on any interest day.
EARNINGS.-For first 12 months of operation ending Jan. 31 1908.
gross. 842,088: net, $22,194; fixed charges. $9,875; surplus, $12,319.
ROAD.-Operates 21.6 miles between Decatur and Ft. Wayne. Total
track 23.7 miles. 70-lb. 'I' rail; gauge 4 ft. 8Y4 in. An extension from
Decatur to Berne (12 miles) is to be constructed during 1908.
OFFICERS.---Pres. and Her.. W. H. Fledderjohann; V.-P.. John H.
Koenig; Sec., B. A. Fiedderjohann; Treas., Chas. DIrkson.-V. 88, p. 1042.
bEPT., 1908.J
ELECTRIC RAILWAYS
FORT WORTH, TEXAS.
CITIZENS' RAILWAY &•LIGHT CO.-Street railway and electric-light.
ORGANIZATION.-Incorporated In Texas Aug. 28 1908 as a consolidation of the Citizens' Light & Power Co. of Ft. Worth, the Arlington
Heights Street Ry. and the Ft. Worth & Rosen Heights Street Ry. Co.
V. 85, p. 30.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
Stock, $1,000,000 ($100)
$1,000,000
.
First mortgage, $1 000,0001 1908
5 g F-A
511,000 Aug 1 1926
(11,000), gold
c*lInt. at Citizens' Say.&Tr.Co., Clev., Trus.
Bonds.-Subject to call on or before Aug. 1 1909 at par and Int. and on
any Int. date thereafter at 105 and int. Unissued bonds are reserved for
betterments. No sinking fund.
EARNINGS.-For 12 months ending Dec. 31 1007, gross, 3258,581;
oper. expenses and taxes, $185,432; net, $73,149.
ROAD.-Operates 13;4 miles of track in Ft. Worth, including lines
running to Arlington Heights and Rosen Heights. Gauge, 4 ft. 83i in.;
0-1b.T and 70-1b. girder rail. Owns and operates electric-lighting plant.
OFFICERS.-Pres., Warren Bicknell; V.-P., W. 0. Allen; Treas., J. F.
Harper; Sec. and Gen. Mgr., A. J. Duncan Jr.-V.85, p. 530.
NORTHERN TEXAS ELECTRIC CO.-A holding company.
ORGANIZATION.-Incorporated in Maine in Dec. 1905 and acaulred
stock of the Northern Texas Traction Co.
STOCK AND BONDSInterest, Outstanding.
Date.
Last Div.
Common $2,500,000 ($100)32,500,000
Pref 6% n-c$2,500,000 ($100).
M &S
2,500,000 Sept '08.3%
Stock.-The preferred stock is
--redeemable at 110.
Dividends.-First dividend on preferred. 1%, paid on March 1 1906 and
2% was paid Sept. 1 1906. In 1907, 6%. In 1908, Mch., 3%;Sept., 3%.
OFFICERS.-Pres., Guy E. Tripp; 1st V.-P., John W. Hallowell: 2d
V.-P., H. T. Edgar; Sec., Alvah K. Todd; Treas., Henry B. Sawyer; Gen
Mgrs., Stone & Webster, Boston.-V.85, p. 469; V. 86, p. 1043.
(1) Northern Texas Traction Co.-A trolley road.
ORGANIZATION.-This was formerly the Fort Worth Street Railway
Co., chartered by the Texas Legislature in 1874 for 100 years. In 1901
application for amendment to charter was granted, changing its name to
the Northern Texas Traction Co. The Traction Co. then purchased the
City Ry.,and in 1901 obtained legislative permission to extend its road from
Fort Worth to Dallas, a distance of 30 miles. In 1902 purchased the Dallas
& Oak Cliff Electric Ry,and redeemed that company's bonds; also acquired
the Glenwood do Polytechnic College Street Ry. Franchise in Fort Worth
expires in 1973; in Dallas in 1945 and 1920; others between 1945 and 1950;
has private right of way outside of cities. In May 1908 Increased stock
from $2,500,000 to $3.000,000 and also Issued $500,000 notes (which see
below). V. 86. p. 1225.
STOCK AND BONDSInterest. Outstanding. Maturity
Date.
Stock $3,000,000 ($100)
$3,000,000
Q-F
. . 2,500,000 Jan. 1 1933
First mortgage $2,500,000
5 g J-J
1003
(11,000) gold-no sinking Int. at Citizens' Say. & Tr. Co., Cleve., Trus.
fund
c*
or at Trust Co. of America. New York.
$500,000 May 1 1911
Notes $500,000 ($500 and 1908
6 M-N
$1,000)
c Int. at City Trust Co.. Boston, Trustee.
Bonds.-lst mtge. bonds are subject to call as a whole on Jan. 1 1908. on
Jan. 1 1913 and on any int. date after 1913 at 105 and Int. No further mtge.
can be placed on property without equally securing above notes.
ROAD AND EQUIPMENT.-Owns and operates 80.5 miles of track in
'Ft. Worth and Dallas, Including an interurban line between them. All
tracks in Ft. Worth have been re-laid with 60 and 72-lb. rails. For interurban use 70-lb. T rails, standard gauge; 113 cars.
REPORT.-For 12 months ending Dec. 31 1907, gross, $1,060,953; net,
$437,381; interest, $128,503; dividends, $149,400; surplus, $159,478. V.
86, p. 1043, 1225.
47
Bonds.-Fresno City bonds have a sinking fund of $3,000 per annum for
first 2 years, $5,000 per annum for next 5 years and $7,500 per annum for
next 10 years, commences on Jan. 1 1905. Bonds cannot be called. Interest payable in New York and San Francisco.
ROAD.-The old Fresno City By. (which the Fresno Traction operates
under lease) has 15 miles of track in and about Fresno. Standard gauge.
61-lb. T rail.
OFFICERS.-.--Pres., A. C. Balch; V.-P. and Mgr., A. G. Wishon; Sec.,
W. E. Durfey, Fresno.-V. 76, p. 1192; V. 77, p. 1746; V. 78, p. 1222.
GADSDEN, ALA.
ALABAMA CITY GADSDEN & ATTALLA RY.ORGANIZATION.-Incorporated under a special charter from the State
of Alabama. Operates, besides street railway, a light plant, an ice plant.
and a coal yard.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock $500,000 ($100)
.
$330,000
New mortgage $300,000 gold 1906
5 g M-N
250,000 Nov. 1 1936
($1,000)
Interest at Trust Co. of Amer., N. Y.. Trust.
Bonds.-The unissued bonds are reserved for further additions at 00%
of cost. New bonds are subject to call on any interest date at 105.
ROAD.-Operates 11 miles of track, connecting the points named In the
title. Standard gauge, 40-lb. T rail. An extension of 5 miles to Noccalula
Falls was built, but is not now In operation.
OFFICERS.-Pres., G. H. Schuler, Birmingham; Sec., R. D. Carver,
Birmingham; Treas., E. T. Schuler, Gadsden.-V. 83, p. 817.
GALESBURG, ILL.
PEOPLE'S'TR ACTION CO.
-A trolley road.
ORGANIZATION.-Incorporated In Illinois on May 23 1901.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock $170,000 (1100)
.
$150,000
First mortgage $150,000 goldj 1902
5 g M'S
150,000 Mch. 1 1922
($100)
c*&r. Interest at F'armers' & Mech. Bk., Galesburg.
Bonds.-Are subject to c
after 10 years at 105. L. A. Townsend Is
trustee.
ROAD.-Operates 123 miles of track from Galesburg to Abingdon.
Standard gauge. 60-1b. T rail.
OFFICERS.-Pres., A. P. Higgins: Sec. and Treas., Chas. S. Harris;
Managing Engineers, Knox Engineering Co., Fisher Building, Chicago.
-V. 75, p. 1232.
•
GALVESTON, TEXAS.
GALVESTON-HOUSTON ELECTRIC CO.-A holding company.
ORGANIZATION.-Incorporated in Maine on May 8 1907. Controls
through ownership of stock the Galveston Electric Co., the Houston Elec.
Co. and the Galveston-Houston Elec. By. Co. The stock of the two former
companies has been exchanged for a like amount of this company's stock.
except $77,300 com. and $195,300 pref., which is still unexchanged.
Rate,%. Outstanding.
STOCK AND BONDSDate.
Last Div.
Common. $3,000,000 ($100)_
12..123,300 __
1.155,600 sepi
Pref.. 13,000.000 6% cu ($100)
Notes payable July 31 1908 _
265,000
Dividends.-First dividend on preferred-3%-Sept. 1907. In -1908.
March, 3%; Sept., 3%.
EARNINGS.-Of combined companies for 12 months ending June 30
1908, gross $1,069,016; net, $443,418; Interest and taxes $206,672; sinking
fund, $31,305; balance, 1205,441.
ROA I)S.-Contr Is 78 miles of track.
(1) Galveston Electric Co.-A trolley road.
ORGANIZATION.-Incorporated in Texas on May 1 1905 as successor
to the Galveston City By. See V. 80, p. 1971. Does the entire electric
railway and part of the electric lighting business of the city. Franchise
FREDERICK MARYLAND.
expires In 1950. Substantially all the stock is owned by the GalvestonFREDERICK & MIDDLETOWN RAILROAD.-A trolley road.
Electric Co.
In 1907 the Frederick Interurban RR. was incorporated for the purpose Houston
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
of consolidating this company and the Jefferson & Braddock Heights RR. Common
$1,000,000
$1,000.000 ($100)-__
The new company. It is thought, will have a capital of $1,000,000, and will Pref
n-c $1,000,000 (1100) ___500,000 Sept'08,3%
6 M-S
issue $1,000,000 bonds. See V. 84, p. 1427. Companynot yet organized, First6%
1,000,000 May 1 1940
mortgage
11-N
32,500,0001
1905
5
g
nor has it acquired any property.
gold ($1,000)
c* Interest at City Trust Co.. Boston, Trustee,
ORGANIZATION.-Is successor in 1906 to the Frederick & Middletown
or at company's agency In New York.
Electric By. The old company in Aug. 1901 leased the Myersville &
and Bonds.-$150.000(f preferred reported outstanding is in treasury,
Catoctin Electric By. for 10 years from Feb. 11904, on which date the old of Stock
company. Of the bonds $1,460,000 reserved for additions and Improvelease expired. For terms of lease see V. 73, p. 287.
ments at 80% of cost and $40,000 are in the treasury of the company. A
STOCK AND BONDSDate.
Interest. Outstanding. Maturity. sinking fund of 134%
of bonds certified begins July 1 1906, If earned, and
Stock,1250,000.
$250,000
on July 1 1911 becomes a fixed charge. Bonds are subject to call as a whole
First mortgage. $250,000,1 1906
5gJJ
on any interest date at 110 and interest on 30 days'notice. See V.81,p.975.
gold ($1,000)
el Fidelity Trust Co., Baltimore, Trustee.
ROAD.-Embraces 32.5 miles of track. Standard gauge. 60-lb rail.
ROAD.-Frederick to Middletown, 9 miles; which, with the lease of the Has 73 cars.
Myersville & Catoctin Electric ,Myersville to Middletown, 534 miles, makes
EARNINGS.-For 12 months ending Dec. 311907, gross, 1389,168; net,
a total of 14)•6 miles operated.
1148,156; interest, $51 231; dividends (6%). $21,000: surplus, $75.925.
OFFICERS.-Pres.. Jas. E. Ingram Jr.: V. P., Emory L. Coblentz;
OFFICERS.-Pres., Guy E. Tripp: 1st V.-P., Eliot Wadsworth; 2d
Sec., E. W. Harthoal;'Tress., Thos. H. Haller.-V. 84, p. 1427.
V.-P., Wilbur A. Carter; Sec., Alvah K. Todd; Treas., Henry B. Sawyer:
WASHINGTON FREDERICK & GETTYSBURG RY.-A trolley road.
Gen. Mgrs., Stone & Webster, Boston.-V.81, p. 975; V. 85, p. 599.
ORGANIZATION .-Ineorporated in 1898 In Maiyland by Act ii General Assembly amended in 1900 and 1906. In 1908 leased the Monacacy
(2) Galveston-Houston Electric Ry -A trolley road.
Valley RR., all of whose stock ($20,000) it owns.
ORGANIZATION.-Incorporated In Texas on April 17 1907 with
Interest. Outstanding. Maturity. $3,000,000 capital stock ($100), to build an interurban electric railway
Date.
STOCK AND BONDS..
$150,000
Stock, $1.000,000 ($50)
between Galveston and Houston, a distance of about 50 miles. Work is
5 g M-N
150,000 May 1 1937 under Cway. On May 14 1907 the stockholders authorized an issue of
1st mtge, $400,000 (11,000,1 1907
-cecrl Int. at Bait. Tr. & Guar. Co..Balt., Trust,.
$500 and $100),
$5,000,000 bonds for construction purposes. No bonds Issued up to
Monocacy Valley 1st mtge). 1908
5 g J-J
30,000
1925 Jan. 1908. V. 84, p. 1247. V. 85, p. 600, 654.
$30,000 ($500) gold_ c&r1Steiner Schley and L. R. Walsche, trustees.
(3) Houston Electric Company.-Trolley.
Bonds.-The W. F. & G. bonds are subject to call on any int. period on
ORGANIZATION.-Chartered at Austin, Tex., on Oct. 26 1901, and Is
60 days' notice at 105 and Int. A sinking fund starts Jan. 1 1911. The
Monocacy Valley bonds are redeemable after one year at 60 days' notice at successor to the Houston Electric Street Railway Co., sold at foreclosure
Oct. 1901. Controls all the street railways In Houston. Franchise originpar. No sinking fund. Interest payable in Frederick.
ROAD.-Is to operate about 25 miles of road from Frederick to Em- ally ran until Oct. 23 1925, but in Jan. 1903 was extended 10 years; for
mittsburg, via Thurmont. 18 miles are in operation between Frederick terms, see V. 76, p. 158. In Dec. 1905 sold $500,000 new preferred stock
to stockholders at par. V. 81, p. 1795. Substantially all the stock Is
and Thurmont. Standard gauge; 70-lb. T rail.
OFFICERS.-Pres. D. Columbus Kemp; Sec., Charles C. Waters; owned by the Galveston-Houston Electric Co.
STOCK AND BONDSInterest. Outstanding. Maturity
Date.
Treas., Franklin Buchanan Smith; Aud. & Gen. Mgr., A. C. McBride,
Common 32,000,000 ($100) _ _
$2,000,000
all of Frederick.-V. 85 p. 601. 723. 922.
_
Pref 6% n-c $1,000,000 ($100) ____
1.000,000 Aug.'08,3%
F-A
First mortgage 12,500,0001 1900
2,030,000 Aug. 1 1925
5 g F-A
FREEPORT, ILL.
gold (31,000) sink fund_ _c*1Int. at International Trust Co., Boston. Trus.
Bonds.-$470.000 are reserved for extensions and improvements at 80%
FREEPORT RAILWAY LIGHT & POWER CO.
of cost and $35,000 are held in the treasury of the company. Entire issue,
ORGANIZATION.-Franchises expire March 1 1923. Has traffic
not any part, can be called on and after Aug. 1 1910 at 107% and Int.
arrangement for 50 years with the Rockford & Interurban By. Co., but
Sinking fund of 154 % of bonds outstanding, payable on Aug. 1 each year.
allowing cars of that company to enter Freeport. Also has contract for
V. 74, p. 680; $122,000 was held by this fund un Jan. 1 1908.
See
city lighting.
Dividends.-Dividend on preferred stock due Aug. 1904 and Feb. 1905
STOCK AND BONDSInterest, Outstanding. Maturity.
Date.
was passed because of strike and boycott; the strike was terminated Oct. 11
Common $200,000 0
$200
,01)
1904 (V. 79, p. 1704) and dividends were resumed on Aug. 1 1905. when
Pref 5% n-c 1150,000 (1100)
150,000
3% was paid. In 1906, 6%;in 1907, 6%;In 1908, Feb., 3%; Aug.. 3%•
First mortgage $350,000 gold' 1903
33),000 See text.
5 g M-N
ROA L).-Comprises 45.5 miles of track. Standard gauge. 43 to 96-lb.
($1,000)
Say.
Bk.,
Chicago, Trustee.
c*lAmerican Tr. &
Operates 131 cars.
Bonds.-Interest on the above Issue Is payable at the offices of Rudolph rail.
EARNINGS.-For 12 months ending Dec. 31 1907, gross, $681,724; net,
Kleybolte & Co. In New York, Cincinnati and Chicago. Bonds are subject 3247.052;
interest, $100,037; sinking fund, $31,661; dividends (6%),
to call after May 1 1913 by lot at 105 and interest. $1,000 arc reserved $50,000; surplus, $55,354.
for future improvements at 80% of cost; $10,000 have been retired. MaOFFICERS.-Pres., Guy E. Tripp; V. P., Henry G. Bradlee: Sec.,
bonds
is
as
follows: $5,000 due in each of the years 1910, 1912
turity of the
Todd; Treas., A. Stuart Pratt; Agts., Stone & Webster, Boston.
and 1913 and $5,000 annually from 1915 to 1921 inclusive, the remainder Alvah K. 1795; V. 85, p. 600.
in 1922. A sinking fund provides for the payment of $2,000 per annum for -V.81, p.
first ten years and $5,000 per annum thereafter.
EAR NTINGS.-For calendar year 1907, gross. $81,833; net, 330.093.
GARDNER, MASS,
ROAD.-Operates 9:miles of track: 60 and 90-1b. T rail. Standard gauge.
GARDNER WESTMINSTER & FITCHBURG STREET RY.-In Dec.
OFFICERS.-Pres. and Gen. Man., A. J. Goddard; V.-P., Fred. Dor- 1899
absorbed the Gardner Electric Street By.
man; Sec., W. N. Cronkrite; Treas.. W. J. Smith.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS3185.000 In 11)07,2%
St‘,ek $185.000 (81)0) __ _
185,000 Aug. 1 1920
1900
5
g F-A
gold1
(11,000)
mortgage
First
FRESNO, CAL.
_1Int. at Mercantile Trust Co., Boston, Trustee
c*
FRESNO TRACTION CO.-A trolley road.
ROAD.-Owns 12 miles of main track from Gardner, through South
0RGANIZATION.-Incorporated in California in 1903 in the Interest of Gardner and Westminster to Fitchburg, where connection is made with the
H. E. Huntington of Los Angeles, to build 196 miles of electric railway, in- Fitchburg & Leominster Street Ry.; also constructed a branch line to
cluding lines from Fresno to Wawona,79 miles: Fresno to Selma, Fresno to Wachusett Lake, which was opened for traffic on May 26 1900. but Is operTrimmer's Springs and Fresno to Central and Washington Colonies. Stock- ated as a summer branch only. In Sept. 1908 was authorized to carry
holdersin 1904 authorized a mtge to secure 15,000,000 bonds. V.78.p. 1222. freight and baggage. Total, 16 miles. 26 cars.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSEARNINGS.-For year ending Sept. 30 1907, gross, $65,161; net,
Stock, $5,000,000
$21,455: charges. $14,072: surplus. $7.383.
$5,000,000
(?)
OFFICERS.-Pres., E. F. Blodgett, Leominster; V.-P., Geo. R. Damon,
(1)
Mortgage, $5,000,000
58,000
Fresno City By first mtgef 1902
6 g J-J
150,000 Jan. 1 1922 Leominster: Sec., Treas. and Gen. Counsel, James A. Stiles, Gardner; Mat.
Safe Dep. & Tr. Co.,San Fran.. Trustee. Treas., Walter R. Dame, ClInton.-V. 69, p. 1247.
$150.000 gold ($1,000)
_Ad
ELECTRIC RAILWAYS
48
GENEVA, N. Y.
GENEVA WATERLOO SENECA FALLS & CAYUGA LAKE TRACTIO N.-Trolley.
In May 1905 control of road changed hands, and it is supposed N. Y.
Cent. interests are the new owners. See V. 80, p. 2344.
ORGANIZATION.-Chartered March 18 1895 as a consolidation of the
Geneva & Waterloo and other companies. Owns the Cayuga Lake Park
V. 80, p. 582.
property of 50 acres
In Dec. 1908 the RR.Commissioners granted permission to increase stock
from $450,000 to $1,000,000, and to make a new mortgage for $1,000,000.
V. 84. p. 51. Up to latest dates tills m ,rttraze had n q neer! exectued.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
$350,000
Common stock, par $100 _
100,000 1904-05, 6%
8
Pref, $100,000 ($100)------- ____
A-0
andl
g
1895
4
450,000 April 1 1920
($500
$500,000
mtge,
1st
OfInt. at West End Trust Co., Phila., Trustee.
$1,000), gold
Bonds.-$50,000 of bonds are unissued. Interest on bonds was formerly
6%. but in 1900 rate was reduced by consent of bondholders to 4 %.
ROAD.-The road extends from Geneva to Cayuga Lake Park through
Waterloo and Seneca Falls, 17 miles; sidings, % mile. Rails 70-1b. girder
and 80-lb. T. Track standard gauge. Operates 25 motor cars, 8 trail cars,
1 snow plow, 1 sweeper.
EARNINGS.-For fiscal year ending June 30:
Net.
Gross.
Other Inc. Int.oeTax. Dividends. Surplus.
Year.
$22,056
$21,,878
$42,034
1907 _ _ _ _$97,148
-13,911
22,078
529
35,460
1906 ____ 90,225
8.977
$6,000
30,324
20,745
3,398
1905 ____ 83,015
OFFICERS.-Pres., Jos. Seep, Oil City, Pa.; V.-P.. C. N. Payne, New
York; Sec., Treas. and Gen. Mgr., W.C. Gray, Seneca Falls; Supt., Howard
Gray, Waterloo.-V. 80, p. 2344; V. 84, p. 51.
GIRARDVILLE, PA,
SCHUYLKILL RAILWAY CO.
ORGANIZATION.-Incorporated In Pennsylvania on July 20 1903 and
nurchased the property of the Schuylkill Traction Co. and the Lakeside Ry.
to. V. 80, p. 1729.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date
$400,000
Stock. $400,000 ($50)
5 g A-0
540,000
1935
1st cons mtge, $1,450,000, gl 1905
($500 and $1,000) _ _ _c•lint. at Fidelity Tr. Co., Phila., Trustee.
Bonds.-Of the $1,450,000 authorized, $805,000 are reserved to retire
the underlying liens in statement below. Are subject to call before 1910
at 105: thereafter at par and interest
EARNINGS.--For year ending June 30 1908, gross, $206,480; operating expenses, including taxes and insurance, $104,300; net, $102,180;
Interest, $68,500; surplus, $33,880.
OFFICERS.-Pres., G. H. Gerber, Reading; V.-P., J. C. Biddle, Fountain Springs; Sec., MacHenry Wilhelm, Ashland; Treas., D. J. Langton,
Shenandoah. V. 80, p. 1729; V. 82, p. 1157; V. 87, p. 286.
(1) Schuylkill Traction Co.-A trolley road.
ORGANIZATION.-Chartered Sept. 28 1892, In perpetuity, under the
Motor Traction Act of March 22 1887. Road opened June 1 1893. On Jan.
6 1893 leased for 999 years the Mahanoy City Shenandoah GirardvIlle
Ashland Street Railway. On Oct. 5 1893 leased for 999 years the Ashland
Locustdale & Centralia Elec. By. Owns all the stock of these two roads,
which is pledged under the first mortgage. On April 27 1900 leased for 999
years the Lakeside By., which connects the two ends of the company's
routes from Mahanoy City to Shenandoah and purchased 2,600 of the 5,000
shares of the capital stock. On Jan. 24 1901 leased the Shenandoah &
Pottsville Street By. for 999 years (incorporated Aug. 1 1900), and from
Pottsville to Shenandoah, 13 miles, and bought all its capital stock. The
Lakeside Shenandoah & Pottsv. stock are pledged under consol. mtge.
STOCK AND BONDS- Miles. Date. Interest. Outstanding. Maturity.
$500,000 April 1 1943
5 g A-0
,6 1893
1st M,$500,000, g,$500122;
& $1,000, s f $10,000 Interest is paid at Equit. Tr. Co., Trustee. Phila.
y'ly after Apr '98_0 Bonds may be purchased for sinking fund at 105.
150,000 Nov 1 1923
4 g M-N
1st mtge, Lakeside RY.1 53i 1893
g, $150,000, guar by Interest at Equitable Trust Co., Philadelphia,
Trustee.
Schuylkill Traction__
43% g J-J
•105,000 July 1 1951
1901
New con mtge, $2,000,-1 __
000 ($1,000), g__ _c•fInterest at Fidelity Trust Co., Phila.. Trustee.
*These bonds, it is stated, will be redeemed in the near future.
Bonds.-01 the $105,000 consols reported outstanding, $38,000 are held
in the treasury. Bonds are subject to call at any time at 105 and interest.
Sinking fund of 1 % of bonds outstanding becomes operative on Aug. 11907.
miles of track, beginning at
ROAD.-Schuylkill Traction Division 22
Locustdale, thence through Ashland, Holmesville to Girardville, forming
Creek
to Shenandoah and the
Lost
through
running
branch
one
Y.
a
there
other branch to Maizeville. Gilberton and Mahanoy City. Lakeside Division 53% miles. Total 28 miles. 60 and 70-lb. T rail. Extensions of 43
miles proposed and charters obtained. Operates 51 motor cars, 4 work
cars and 2 snow sweepers. Extensive improvements have been made.
-V. 80, p. 1729.
[VOL. L.XXXVIL
GRAND RAPIDS HOLLAND & CHICAGO RAILWAY.
ORGANIZATION.-Incorporated in Michigan In July 1904 and Is a reorganization on Aug. 1 1904 of the Grand Rapids Holland & Lake Michigan
Rapid By. See V. 79, p. 627. Power is supplied to company by Grand
Raplds-Muskezon Power Co.. but company maintains own station In readlne to operate in case of emergency. Franchises In city of Holland and
village street , expire In 1928 to 1930; remainder on private righti of way.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$500,000
Common, $500,000
850,000
Pref, $850,000, %
1,500,000 Aug 1 1920
5 g F-A
1st mtge, Grand Rapids Holl 1900
& Lake Mich, $1,500,000,}Int. at American Tr. & Say. Bank, Chicago,
gold ($500 and $1,000)____J Trustee, or at Guaranty Trust Co., N. Y.
Bonds.-A sinking fund is provided of $5,000 per annum for first 5 years,
$10,000 per annum for second 5 years, 815,000 yearly for third 5 years and
$25,000 per annum for fourth 5 years. Bonds are not subject to call.
TRACK -Operates 75 miles of track from Grand Rapids through Holland
to Macatawa and Saugatuck, with steamer connection at Holland for Chic.
OFFICERS.-Pres., Geo. Hendrie: See. and Treas., Stratheam Hendrie.
-V.75, p,1301; V. 78, p. 702, 768: V. 79. p. 627.
GREAT FALLS, MON.
GREAT FALLS STREET RY.-The property of this road was sold at
foreclosure in February 1904 and purchased by John D. Ryan, Pres. Daly
Bank & Trust Co In June 1908 the Great Falls Elec. Properties was organized with $1,000,000 stock, to consolidate this company with the electric
lighting company. No bonds or other indebtedness. Gross earnings for
1907 were $62,467. Comprises 10 1,4 miles of track.-V. 82, p. 1437.
GREEN BAY, WIS.
GREEN BAY TRACTION CO.-Trolley.
ORGANIZATION.-Incorporated In Wisconsin in Jung 1905 and Is a
consolidation of the Fox River Elec. By. & Power Co. and the Knox Construction Co.
In 1906 absorbed the Green Bay Gas & Electric Co., although separate
organization Is necessarily maintained. See V. 82, p. 573 631 and V. 86,
p. 172, for particulars of that company. Street railway franchise Is perpetual and exclusive until 1918.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,000,000
Stock, $1,000,000 ($100)
725,000 June 10 '35
5 g J-D
1st mortgage, $1,000,000, gl 1905
cf Union Trust Co., Detroit, Trustee.
($1,000)
467,000 May 1 1935
M-N
g
5
1905
ref'
&
1st
E
&
Bay
0
Green
M,$750,000, g ($1,000)_c•JInt. at Wisconsin Tr. Co., Milw., Trustee.
Bonds.-The Green Bay Traction Co. bonds are subject to call at 150
until 1925; thereafter at par. The Green Bay Gas & El. bonds are subject
to call from 1910 to 1924 at 105; thereafter at par.
EAFtNINGS.-Exclusive of Green Bay Gas & Electric Co.
Net.
Operating Expenses.
Gross.
Calendar Year.
$32,074
81111,978
$143,052
1907
39,448
94,759
134,205
1906
42,292
78,595
120,887
1905
line
ROAD.-Owns and operates all lines in the city of Green Bay; also afrom
line
a
and
Creek,
Duck
to
branch
and
Pere
City,
De
to
Bay
Green
from
Green Bay to VVest De Pere, Little Rapids, Wrightstown and Kaukanna;
total 40.80 miles. 45 and 78-1b. rail; 30 motor cars; 12 trailers.
OFFICERS.-Pres., A. M. Murphy, Green Bay; V.-P., R. M. Howard,
L. Parker, Green Bay; Treas., F. E. Murphy; Gen. Mgr., R. M.
Sec., B. L
Howard.-V.81, p. 558; V. 82, p. 568.
GREENSBORO, N. O.
GREENSBORO ELECTRIC CO.
On May 18 1907 control was purchased by W.T. Van Brunt of New York.
ORGANIZATION.-Incorporated in North Carolina on June 11 1901.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$250,000
Common, $250,000 ($100)_
106,200
Pt, $250,000 ($100) 6%n-cum
250,000 June 1 1930
J-D
gold
g
5
$750,000,
1905
mtge,
New
e* tint, at Mercantile Trust Co., N. Y., Trustee
($500 and $1,000)
400,000 April 1 1927
5 g A-0
1st mtge, $400,000, gold 1902
cjInt. at Trust Co. of America, N. Y., Trustee.
($500 and $1,000)
Bonds.-Of the $750,000 new bonds, $400,000 are reserved to retire prior
liens and $100,000 for future extensions. They are subject to call on any
int. date at 110 and int. Of the $400,000 1st 5s, $5,500 were issued under
mortgage of 1901.
EARNINGS.-For year ending Dec. 31 1907, gross, $150,000; in 1906,
gross, 8130,309.
ROAD.-Operates about 1354 miles of track in Greensboro, including
extensions to Revolution, White Oak and Lindley Park. Standard gauge.
93-lb. girder and 60-lb. T rails.
OFFICERS.-Pres., John Karr; V.-P., F. A. C. Perrine; Treas., M. I).
Barr; Sec., Z. V. Taylor.
GREENVILLE, S. C.
GREENVILLE TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated in South Carolina on Sept. 7 1899.
GRAND RAPIDS RY.-Trolley.
Power Is supplied to this company by the Greenville-Carolina Power Co.
ORGANIZATION, &c.-In April 1900 was incorporated as a successor for particulars of which see V. 85, p. 224.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
company to the Consolidated Street Ry. and the North Park Street By.,
$306,000
and owns all the street railway properties of Grand Rapids and vicinity. Stock, $500,000 ($100)
250,000 Feb 1 1931
5 F-A
1st mtge. $250,000, cur ($1,-1 1901
Franchises expire in 1919, in 1920 and in 1921.
Interest Outstanding. Maturity.
OfInterest at Girard Trust Co., Phila., Trustee.
and $500)
000
STOCK AND BONDS- Date.
Q-M
$2,000,000 S pt.'08,1%
ROAD.-Operates 13 miles of track.
Stock eons $2,000,000 ($100)- 1,500,000 Aug.'08,1 h
-Q-F
OFFICERS.-Pres., Joseph S. Keen Jr.; V.-P., J. H. Dawes; Sec. and
Pref $2,000,000 cum 5%($100)
5 g J-D
3,408,000 June 1 1916 Asst. Treas., H.Bayard Hodge; Treas., Geo. M. Bunting, all of Philadelphia
Grand Rap By Co 1st nagel 1900
a
33,500,000 gold ($1,000) c*JInterest at New York Trust Co., Trustee.
Bonds, &c.-Of the new mortgage for $3,500,000, $92,000 have been reGROTON, CONN.
tired by sinking fund. Sinking fund became operative on Oct. 1 1905,
payable 1% of bonds out up to Oct. 1 1910, then 2% up to 1915 (see
GROTON & STO N I N GTO N STREET RY.-A trolley road.
V 70, p. 1149). Bonds cannot be called. See V. 72, p. 1187. Bonds
ORGANIZATION.-Incorporated in Connecticut on Aug. 17 1903.
are listed on New York Stock Exchange.
Interest. Outstanding. Maturity.
AND BONDS- Date.
STOCK
Dividends.-DIvidends on preferred stock are cumulative and 1 % Common,$400,000 ($100)$400,000 See text.
• ouartei iv i)as been regularly pal I tip t all Licht line Aug. [908. The Ors
200,000 See text.
8%, $200,000 ($100)_
Pref,
dividend on common-1 %-was paid Sept. 11006 and 1 % was again paid 1st mtge. $375,000, goldl 1904
375,000 July 1 1924.
5 g J-J
Dec. 1 1906. In 1907, 4%. In 1908, March, 1%; June, 1%; Sept., 1%.
of Interest at International Trust Co., Boston.
($1,000)
years:
calendar
EARNINGS.-For
30,000
and notes payable June 30 1907
Pref. Div.
Bal., Sur. Loans
Charges.
Net.
Gross.
YearBOnds.-No s. f.. but bonds are subject to call at any time at 120 and
(5%)$75,000
t210,41111
$213,008
$488,468
190/
$944,016
Interest. Trustee is Treasurer of State of Connecticut.
75,000
205,460
181,876
462,138
(5%)
910,028
1908
Dividends.-On pref. In 1905-06, 6%; on common in 1905-06, 3%. On
(5%) 75,000
196,260
156,830 pref., 1906-07, 7 %•
427,890
820,469
1905
(5%) 75,000
189.345
328.334
61.989
760,778
1904
EARNINGS.-For year ending June 30 1907: gross, $104,073; net, $52.track.
of
125
miles
62.758
motor cars 897; fixed charges, $34,182; dividends (7 Si %), $15,000; surplus, $3,715.
ROAD.-Owns and operates
and 28 trailers.
-Operates 203% miles of track from Groton, through Noank.
ROAD.
OFFICERS.-Pres., Clarence M. Clark, Phila.; V.-P., Lester J. Rindge, West Mystic, Mystic, Stonington and Pawcatuck, to Westerly, R. I. Put
Grand Rapids; Sec., Treas. and Gen. Mgr., B. S Hanchett, Grand Rapids; in operation on May 6 1905. Connects by ferry with New London. StandA st. Sec., C. Ford Steven, Phila.-V. 84, p. 220, 749; V. 85, p. 40.
ard gauge, 70-lb. T rail. 22 cars.
OFFICERS.-Pres.. Thos. Hamilton, New London; V.-P., B. F. WillGRAND RAPIDS GRAND HAVEN & MUSKEGON RY.-Eleetrio iams, Mystic; Sec., Chas. D. Noyes, Norwch; Treas., Costello Lippitt,
power.
Norwich: Gen. Mgr., Thomas NV, Ryley, Mystic.-V.80, p. 2344.
road. Third-rail ty tern. Water
ORGANIZATION.-Incorporated in Michigan on March 8 1899 to build
the
three
connecting
cities named
an electric road on fenced right of way,
GTJLFPORT, MISS.
in the title, a total distance of 48 miles. The road was entirely completed
IHsspp CO GULFPORT & MISSISSIPPI
TRACTION
and put in operation about May 1 1902. Thirty-year franchises in all
of
right
I
1 in 1905. Purchased
way.
ZATION.ORGANIZATION.
private
ORGAN
-Incorporated
towns through which it passes; otherwise
Interest. Outstanding, Maturity. the Biloxi Electric By. & Power Co. and the Gulfport Development Co
STOCK AND BONDS- Date.
$2,000,000.
stock
increased
$1,200,000
from
to
1907
$1,000,000
$1,200,000
In
Stock,
Interest. Outstanding. Maturity.
STOCK AND BONDS1,500,000 July 1 1926
5 g J-J
Date.
1st mtge, $1,500,000 ($1,000)1 1901
$1,000,000
_
c*jInt. at Standard Trust Co., N. Y., Trustee. Stock,$2,000,000 ($100) •
'
gold
1,000,000 Sept. 30 '35
was
g A-0
6
mort.,
bonds
guaranteed
1905
$1,000,000,
for
gold,
outstanding
5
on
1st
years
Bonds.-The interest
Hibernia Bk. & Tr. Co., N. On.,Trus,
Int. at H
($1,000)
by the Security Investment Co. of Pittsburgh. See V. 76, P. 479,
200,000
1923
8 g J-J
EARNINGS.-For 12 months ending Dec. 311007, gross, $258,566; net Bill. El. R •. & P.1st mtge., g 1903
($100, $500 and $1,000) _ Int. at Hibernia Bk. de Tr. Co., New Orleans.
$114,786; In 1906, gross, $241,860; net, $109,090.
Bonds.-The new bonds of 1905 are not subject to call; no sinking fund.
ROAD.-Extends from Grand Rapids in a northwesterly direction to
Muskegon, with a branch to Spring Lake and Grand Haven. Connects at The Biloxi Electric Railway & Power bonds are subject to call at 106 and int.
ROAD -Operates 13 miles of track from Gulfport to Biloxi and 7 miles
Grand tiaven with Goodrich Line of steamers for Chicago and Cr.,sby Line
of steamers for Milwaukee. Total track, 48.13 miles; 70-lb. Trail. Oper- from Gulfport to Harborview, Miss.; also 2 miles of track in Gulfport and
6 miles of track in Biloxi. Total. 28 miles.
ates 19 passenger. 6 express and 1 work car. Also does a freight business.
OFFICERS.-Pres., J. T. Jones, Gulfport; Sec., H. C. Elder; Treas..
OFF7ICERS.-Pres., Geo. C. Smith, Pittsburgh; V.-P. and Gen. Mgr.,
W. K. Morley, Grand Rapids; Sec. and Asst. Treas., Wallace Franklin, E. A. Durham, Sisterville. W. Va.,• Auditor. R. E. Powers, 1024 Prudential
479.
p.
78,
-V.
York.
Detroit; Treas.. Carl M. Vail, New
Bldg., Buffalo. N. Y.: Gen. Mgr. J. A. Jones. V.83, p. 95.
GRAND RAPIDS, MIOH.
SEPT., 1908.]
ELECTRIC RAILWAYS
HACKENSACK, N. J
NEW JERSEY & HUDSON RIVER RY & FERRY CO.ORGANIZATION -Incorporated at Trenton, N. J., on Feb. 27 1900 at
a consolidation of the Bergen County Traction Co. and the Ridgefield and
Teaneck Ry. Co. See V. 70. p. 430. This company owns the entire capital stock and first mtge. bonds of the Riverside & Fort Lee Ferry Co.. owner
of the West 130th Street Ferry. These securities are all deposited under
the $5,000,000 mtge. Company also leases the Hudson River Traction
Co., which see below. Franchises perpetual except one for 99 years.
Chiefly private right of way..
STOCK AND BONDSInterest. Outstanding. MaturitY•
Date.
Stock,common,$5,000,000
51.000.000
Stock, pref., $750,000 6% cum
650,000 See below.
1st mort. $5,000,000 gold' 1900
4 g M-S
3,259,000 Mar. 1 1950
(31,0005
c*)Int. at U. S. Mtge.&Tr.Co.. N. Y., Trustee.
Bonds.-The amount unissued is reserved for extensions and improvements. Bonds can be called on and after March 1 1905 on any interest day
at 105 and interest, upon six weeks' notice. V. 80, p. 998.
DIVIDENDS.-The first dividend of 5% on pref. stock was paid on
Feb. 15 1901. In Feb 1902, 6% was paid and the same amount yearly
thereafter, including Feb. 1908. Dividends are usually declared in scrip,
payable twelve months subsequently.
EARNINGS.-For calendar year 1907, gross, $482,808; net (after taxes).
$179,151; other Income, $25,371. Total income, $204,522; interest, $131,831;surplus, $72,691.
ROAD.-Owns and operates 31.33 miles of track from W. 130th St.. New
York City (terminal at Edgewater), to Englewood, Hackensack and
Paterson. The Hackensack line was opened on June 21 1900. Extension
to Arcola and Paterson of 5 miles was completed and put in operation April
1 1903; the cars of this company operating to Main and Broadway, the
bu,iness centre of Paterson, under trackage rights from the Public Service
Corporation. During 1002-1903 the property of the Ferry Co. was reconstructed, new ferry boat built and new ferrhouse erected. During 1905 new
cut-off was built, giving double track from Edgewater to Hackensack.
OFFICERS.-Pres., A. Merritt Taylor; 1st V.-P., W. H. Clark; 2d V.-P.,
Frank It. Ford, 115 13'way, N. Y. 3d V.-P., NV. N. Barrows; Sec. and
Treas.,S. C. Stivers; Gen. Mgr., F. W. Bacon. General offices, Edgewater,
N. J.-V. 82. p. 510. 1323.
HUDSON RIVER TRACTION-
ORGANIZATION.-Incorporated in New Jersey on March 22 1902.
Control of stock Is owned by the N. J. & Hudson River Ry. & Ferry Co.,
which leased this company on July 1 1904 until March 1 1950, rental being
net earnings of the lessor company. On Sept. 1 1903 purchased at foreclosure sale the Newark do Hackensack Traction Co. and took possession of
the property on Sept. 25. Franchises are perpetual, except one for 50 years.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$1,000,000
Com.,$1,000,000 ($100)
235,100
Pref.,4% non-c., $500,000
564,000 Mar. 1 1950
5 g M-S
1st mort., $1,000,000, gold' 1902
flirt. at U. S. Mort. & Tr. Co., N.Y., Trustee.
($1,000)
Bonds.-Are subject to call on any int. date at 110. No sinking fund.
EARNINGS.-For year ending Dec. 31 1907, gross, $92,616; expenses,
$75,659; net, $16,957. In 1906, gross, $83,252; expenses, $69,181; net.
$14,071.
ROAD.-Owns and operates 17.11 miles of track from Hackensack
through Hasbrouck Heights, Woodridge and Rutherford to Arlington, where
through connection to centre of Newark is made over the tracks of the
Public Service Corporation. On May 16 1904 opened a new line from
Hackensack via Hasbrouck Heights to Passaic, and from Lodi to Passaic.
operated in conjunction with the Public Service Corp. In Aug. 1904 commenced operating to Broad and Market sts., Newark.
°Mee:118.-1'1es.,C. A. TwinInc; 1st V.-P., H. MacMullen, 115 13'way,
N. Y.; Sec., W. N. Barrows; Treas., S. C. Stivers; Gen. Mgr., F. W.
Bacon. General offices, Edgewater. N. J.-V. 78, p. 47.
HAGERSTOWN, MD.
HAGERSTOWN RAILWAY.-A trolley road.
ORGANIZATION.-Chartered March 12 1896 in perpetuity. Furnishes
commercial electric lighting. Franchises are perpetual. On May 20 1908
shareholders voted to take over the assets of the Hagerstown & Northern
RR.,(which had consolidated with the Franklin County RR.In Feb. 1907).
the Hagerstown 46 Boonsboro Ry. and the Hagerstown & Myersville Ry.,
and increased stock from *200,000 to $400,000. V. 86, p. 1343.
Itterests identified with this company in July 1901 purchased a majority
of the stock and all of the bonds of the Myersville do Catoctin Electric By.
but shortly thereafter directors of the latter made a new lease of the road
to the Frederick & Middletown Railroad, which see on a previous page.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
Stock, $400.000 ($50)
$.100,000
1st
200,000 May 1 1916
mortgage, $200,000,1 1896
6 g Q_-F
gold
I Interest at Eavy Lane & Co.. Hagerstown.
Hager & Myers By, $125,000.. (7)
125,000
(?)
(?)
Hagers & Boonesb By 1st M1 1902
5 F-A
120,000 Aug 1 1922
$120,000($500 do $1,000)c*J
Hagers & Nor RR 1st mtge) 1907
5 g F-A
120.000
1927
Trustee, Wm. Jennings.
$120,000 gold ($1,000, $500}
and $100)
es)
Bonds.-The Hagerstown 44 Boonesboro fly. bonds are redeemable 1912
at par. The Hagerstown & Northern RR. bonds are subject to call in 1917.
ROAD.-Operates 405i m. of track as follows; Hagerstown to Williamsport and Funkstown, 13 in.; Funkstown to Boonsboro, 10 m.; Boonsboro
across South Mountain to Myeraville (where connection is made with Frederick do Middletown Ry.), 7yi miles, and Hagerstown to Shady Grove
(where connection is made with Chambersburg Greencastle & Waynesboro
Electric By.), 10 miles. Standard gauge.
OFFICERS.-Pres., Christian W. Lynch; Vice-Pres., D. C. Haldeman;
Treas. and Aud., Wm. Jennings; Sec. and Supt., W. C. Hepperle; Gen.
Mgr., Richard C. Haldeman.-V.84, p. 339; V. 86, p. 1343.
HAMMOND, END.
HAMMOND WHITING & EAST CHICAGO ELECTRIC RAILWAY.-A
trolley road.
ORGANIZATION.-Chartered in 1892. Franchise expires in 1954.
Miles. Date.
Interest. Outstanding. Dtvid'nds
STOCKStock, $1,000,000 ___ 25.7Q-J
See text.
$510,000
Dividends.-8% per annum 11 being paid.
ROAD.-Owns 25.7 miles of track, extending from State line to Whiting.
East Chicago and Hammond. and operates in connection with Calumet &
South Chicago By. to 63d St. and Madison Ave. In Chicago.
OFFICERS.-Pres., D. F. Cameron, Chicago; V.-P., D. M. Cummings;
Sec. and Treas., 0. S. Gaither; Gen. Mgrs., A.L.Drum & Co , 125 Monroe
St., Chicago -V. 79, p. 103.
HARRISBURG, PA.
CENTRAL PENNSYLVANIA TRAC. CO.ORGANIZATION.-Incorporated in Pennsylvania on July 9 1903, and
leased the Harrisburg Traction Co. and subsidiary lines at a guaranteed
rental of 6%. The Harrisburg Traction Co. stockholders were allowed to
subscribe for the new stock, share for share; has no bonds. An assessment
of 10% ($5 per share) was called on the stock in Aug. 1905, see V. 81, p.
725), 10% was called in 1907 and 10% April 1 1908. On Oct. 17 1903
acquired a majority of the $200,000 stock of the People's Bridge Co. The
Lingicstown & Blue Mountain Ry. Co., which is controlled through stock
ownership, was put in operation to Linglestown on July 1 1904. Owns
entire stock of the Harrisburg 44 Hummelstown By. and guarantees its
bonds, p. and I. In 1907 the Dauphin Street By. was Incorporated to
build a trolley line from Harrisburg to Dauphin. No arrangements have
been made as yet for financing this company. Franchises are perpetual.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$2,100,000(42 %pd.)_-Stock, $2,100,000
5 A-0
105,000 Apr. 1 1935
Ling. & Bl. Mtn, Mtge,$125,-1 1905
000 g.($100 and $500) ----cj Int. at Harrisburg Trust Co., Trustee.
4;,i g M-N
200.000 Apr, 1 1935
Harr. & Hum. 1st M., $200,-)1905
000, gu. p. and
Bonds.-Both issues are guaranteed p. and 1. by end. by the Central Penn.
Tr. Co. Of the Ling. & Bl. M. bonds, $20,000 are reserved for Penn.
extensions. These bonds are subject to call after 1915 at 105 and interest.
49
REPORT.-For fiscal year ending June 30 1908, gross, $727,152; net.
$374,161; rentals, taxes and interest, $223,220; surplus, $150,941, of which
$46,149 has been used for betterments.
ROAD-Leases and operates 70.32 miles of track as follows: East Harrisburg Pass. By., 22.35; Harrisburg City Pass. Ry.. 15.61; Citizens' Pass.
Ry., 10.17; Middletown H. & S., 9.72; Lingiestown do Blue Mountain Ry.,
5.63; Harrisburg & Hummelstown By., 6.84. Has 152 cars.
OFFICERS.-Pres. F. B. Musser; V.-P., B. F. Meyers; Sec.& Treas..
W. J. Calder, Supt., F. M. Davis, all of Harrisburg.-V.83, p. 491.
(1) HARRISBURG TRACTION.-A trolley road.
In June 1903 was leased to the Central Pennsylvania Traction Co.at 6%
on stock. A stock dividend of 5% was paid at that time, increasing outstanding stock to $2,100,000. The Traction Co. holds in its treasury
$700,000 (all) stock of the East Harrisburg Pass. By. and $235,000 (all)
of Citizens' Stock. V. 60. p. 873.
STOCK AND BONDS.-. Par. Date.
Interest. Outstanding. Last Div.
Harrisburg Traction
stock, $2,500,000 __J
50 -___
6 F-A
$2,100,000 See text.
Citizens' Passenger- ____ 1894
6 g M-N
75,000 May 1 1924
1st M.,$75,000, gold Int. at Com'wealth Guar. Tr, Co., Harrisburg.
Leased to E. Har. Pass. By.Harris. City Pass. stk
25 ____
12 J-J
125,000 Lease rent.
Middiet'wn H.&S.stk
50 _-_
10 J-J
100.000 Lease rent.
DIVIDENDS -The dividends in Feb. and Aug. 1899 aggregating 4%
were paid in stock, the money being used in reducing floating debt. Dividend period changed to quarterly, and 1 % paid in cash Oct. 1899. In 1900
4 %. Dividends again changed to semi-annual and 2H % paid Feb. 1901
and 2 %on Aug. 1. In 1902 5 %. In 1903,6 %.also scrip dividend of 5%
on Aug. 1. In 1904, 6%. In 1905, 6%. In 1906, 6%. In 1907, 6%.
In 1908, Feb., 3%; Aug., 3%.
ROAD.-Embraces 47 miles of track now operated by Central Penn.Trac.
OFFICERS.-Pres., Edward Bailey; V.-P., B.F.Meyers;Sec. and Treas..
W.J. Caider; Supt. and Pur. Agt., F. B. Musser, all of Harrisburg.-V.77,
p. 106.
VALLEY TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated In Pennsylvania on Nov. 18 1903 and
controls through ownership and lease the Harrisburg & Mechanicsburg
Electric Railway Co., the White Hill & Mechaniscburg Electric By., the
West Farview do Marysville Electric Ry.,the Fairview & Riverton Pass.fly.,
the Carlisle do Mechanisburg St. By.,the Camp Hill & Harrisburg Pass. By.,
the Harrisburg & Riverton St. By. and the United Electric Co.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
Common,$500,000 ($50)
$500,000
Pf.,$500,000,5% n.c.($50)
350,050
1st mtge., 3700.000, gold 1903
5 g A-0
552,400 Oct. 1 1933
($100 and $500)
elInt. at Farmers' Tr.
Carlisle, Pa. Tr.
H. 44 M.1st M.,$224,000, g. _ 1894
6 g M-S
1914
Co.'
144,500 Sept. '
Interest is payable at office of trustee, the Harrisburg Trust Co.
Bonds.-Val. Trac. bonds are subject to call after Oct. 1 1908 at 110. A
sinking fund of $5,000 per annum commences Oct. 1 1908.
EARNINGS.-For calendar year 1907, gross, $247,525; net. 183,433;
taxes and charges, $75,327:surplus. $8.106.
ROAD.-Operates 41.23 miles of track from Harrisburg to Fairview,
Marysville, Riverton, New Cumberland ,White Hill, Camp Hill, Shiremanstown, Mechanicsburg, Boiling Springs and Carlisle. 31 cars. Gauge,
5 ft. 2 in.; 50 and 100-lb. girder and T-rail.
OFFICERS.-Pres., M. C. Kennedy, Chambersburg; Sec.-Treas., W. L.
Ritchey, Chambersburg; Supt., C. H. Bishop, Lemoyne.-V. 78, p. 1393.
HARTFORD, CONN,
FARMINGTON STREET RAILWAY.-Trolley.
ORGANIZATION.-This is the Hartford & West Hartford Horse RR.,
sold in foreclosure Aug. 1 1899. New company organized and began business on Oct. 19 1899. Old bondholders received stock in exchange for their
bonds.
STOCK AND BONDSInterest. Outstanding. Maturity.
Par.
Stock, $189,000
$189,000 (5-6 pd)
$100
Debentures
1904
30,000 July 1 1924
5 J-J
Loans and notes payable June 30 1907
38,500
ROAD.-Operates 15.1 miles of track laid with 70-lb. T rails, 10.8 miles
of which It owns and upon4.3 miles of which it has trackage rights. Standard gaure. 22 cars.
REPORT.-Year to June 30 1908, gross, $66,435; net. $9,295. In 190607, gross, $62,342; net, $5,335.
OFFICERS.-Pres. and Treas., E. D. Robbins, Wethersfield; V.-P..
D. Newton Barney, Farmington; Sec. and Gen. Mgr., C. E. Hubbard.
ilartford.-V. 69, p. 283.
HATTIESBURG, MISS.
HATTIESBURG TRACTION CO.
ORGANIZATION.-Organized in 1906. Sept-2 1907 purchased Hattiesburg Gas. Co. and Hattiesburg Light & Power Co.. giving company
a monopoly of gas, street railway and electric light business of city. Street
railway franchise 25 years from 1906.
Date. Interest.
Outstanding. Maturity.
STOCK AND BONDS$500,000
Stock ($500,000)
6 J-J
200,000 Jan. 1 1928
1st mtge $300,000 ($1,000)1 1908
gold
c*fStandard Trust Co., New York, Trustee.
Bands.-Sinking fund retires by purchase $5,000 bonds annually, beginning Jan. 1 1909, at a premium up to a 5% basis; bonds cannot be called.
V. 87, p. 97.
ROAD.-Has completed 7 miles of track.
WrOFFICERS.-Pres.,A. F. Thomasson; 1st V.-P., H.S. Stevens;2d V.-P.,
H. A. Camp; Sec. and Treas., N. B. Blount.-V. 87, p. 97.
HAVERHILL, MASS.
MERRIMAC VALLEY ELECTRIC CO.-A holding company.
ORGANIZATION.-Organized in Feb. 1907 and owns 2,139 out of 2,400
shares of the Citizens' Electric Street Ry.; 1,082 out of 1,500 shares of Haverhill & Amesbury Street Ry.; 329 out of 400 shares of Salisbury Land & Improvement Co., and entire 100 shares of Salisbury Beach Corporation stock.
Interest, Outstanding. Maturity.
STOCK.Date.
36140.900
Common $1,000,000 ($100)
414,700
1908, 5 r.
Pref 5% cum $825,000 ($100)_
, referred stock in 1907, 2 "4; In 1908,
Dividends
OFFICERS.-Pres.. James F. Shaw; Treas., George A. Butman.-V.
84, p. 450.
(1) Haverhill & Amesbrry Street Ry.-Trolley road
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$150,000 Oct.'97,3%
See text
Stock $250,000 (par $100)_ _
94,000 July 1 1911
5 g J-J
Black Rock & Salisbury Bch 1891
Interest at Inter1ational Trust Co., Boston.
first mortgage, gold
196,000 July 1 1912
5 g J-J
Haverhill & Amesbury consol 1892
mtge $290,000 g ($1,000)c5 Interest at American Trust Co.. Boston,Trus.
1896
200.000 Dec. 1 1911
6 J-D
Debenture notes
Interest at American Trust Co.. Boston.
317,128
"Current labIl" Sept. 30 1907
DIVIDENDS.-None since Oct. 1897
ROAD.-Has 28 miles of track, Including sidings, &c. 65 cars.
ANNUAL REPORT.-For years ending Sept. 30 earnings have been:
Gross.
Net. Int.,tazes.&C. Bai..Sur
$47,560 def.$9,754
$1 21,823
337,806
1906-07
42.631
123,562
47.684
5,033
1905-08
OFFICERS.-Pres., E. P. Shaw. Newburyport, Mass.; Sec. and Treas..
Geo. A. Butman. Office. 8 Congress St., Boston.-V.84, p. 450.
(2) Citizen? Electric Street Ry.-Trolley.
ORGANIZATION.-Incorporated In April 1899 and purchased franchises
and property of the Newburyport & Amesbury RR.and Plum Island Street
By., and reconstructed the property.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$240,000 June'08,2% %
J-J
Stock $240,000 ($100)Dec. 1 1920
223,000
5 g J-D
First mortgage $230,000 goldi 1900
Beacon Trust Co., Boston, Trustee.
59,207
Current liablitles Sept. 30 '0,
DIVIDENDS.-For fiscal year eliding 1901,8%; 1902, 7%; 1903, 6%;
In 1904,534%;In1905. 5%;in 1906, 5%;in 1907,5%;In 1908,Jan., 214%;
June, 234%.
ROAD.-Owns about 18 miles of track In Newburyport, including lines
to Haverhill, Amesbury and Plum Island. Operates 35 cars.
EARNINGS.-For fiscal year ending Sept. 30 1907 gross, $106,392; net,
$42,433; interest and taxes, $19,861; dividends, $12,600; surplus, $10,572.
OFFICERS.-Pres., Jas. F. Shaw, Boston; Treas., G. A. Butman, 8
Congress Street, Boston; Supt., 0. F. Files, Newburyport. Office, 33
Market Square, Newburyport.-V. 72, p. 44.
NEW HAMPSHIRE ELECTRIC RYS.
ORGANIZATION.-Incorporated in August 1905 as successor under
foreclosure of the New Hampshire Traction Co., as per plan in V. 79, p.
2205. Company is managed by a board of trustees. Owns and controls
the following companies: Amesbury & Hampton Street Ry., Seabrook &
Hampton Beach Street By., Haverhill & Plaistow Street By., Haverhill
Plaistow Fc Newton Street By., Portsmouth & Exeter Street Ry., Dover
Somersworth & Rochester Street By., Hudson Pelham & Salem Street By.,
Haverhill & Southern New Hampshire Street Ry. Lawrence & Methuen
Street By., Lowell &Pelham Street By., Rockingham County Light &
Power Co., Canoble Lake Co. and Granite State Land Co.
All of the capital stocks of these companies are owned by the New Hampshire Electric Rys., as are also the outstanding bonds of all the companies,
with the exception of those given in table below. Franchises of all the constituent companies are perpetual.
The Hudson Pelham F0 Salem Electric By. was foreclosed July 1 91907
and succeeded by the Hudson Pelham & Salem Street By. Co.,with capitalization of $200,000 in bonds and $200,000 in stock,all acquired by the
New Hampshire Electric Rys.
Interest. Outstanding. Last Div
STOCK AND BONDS- Date.
$4,000,000
Common, $4,000,000 ($100)..
4,000,000 J'y 31'08,1
Prefel %n-c, $4,000,000 ($100)
LIENS.
UNDERLYING
Dover Somers & Roch 1st M,
See text. July 1 1921
g, $300,000 ($1,000), a' s 1 1901
5 g .1*-J
$5,000 per ann begins 1904; Interest at American Trust Co., Roston,
Trustee.
bds cannot be called. Guar
p & I by Ex Hamp &Amb.
See text. Oct 1 1919
5 g A-0
Amesbury & Hampton 1st M,1 1899
gold. $100,000 ($1,000) _1 Int. at Beacon Tr. Co.. Boston. Trustee.
Bonds.-01 the $300,000 of the Dover Som. & Roch. bonds, all issued,
$200,000 are owned by the New Hamp. Elec. Rys. Of the $100,000 Ames.
& Hamp. bonds, all issued, $50,000 are owned by the N. H. Elec. Rys.
EARNINGS.-For calendar year 1907, gross, $658,211; net, $153,758;
int. and taxes, $22,743: surplus, $131,015. In 1906, gross, $677,386; net,
*151,206: int, and taxes, $20,913; surplus, $130,293.
ROAD.-Companies controlled comprise about 135 miles of track connecting Nashua, Pelham, Lowell, Lawrence, Methuen, Haverhill, Salem
Amesbury, Exeter ec Portsmouth, Dover, Somersworth and Rochester-all
points in N. H. or Mass. Company owns several pleasure resorts. Also
does electric-lighting business. Population served, 300,000.
OFFICERS.-Pres., D. A. Belden. Haverhill; V.-P., A. S. Webb Jr..
New York: Sec. and Treas., F. J. Horne, New York.
TRUSTEE.-The New York Trust Co.-V. 86, p. 420, 668, 1042.
HAZLETON, PA.
WILKES-BARRE & HAZLETON RR.
ORGANIZATION.-Incorporated in New Jersey May 1901, and acquired
the entire ($1,500,000) capital stock and ($1,500,000) bonds of the WilkesBarre & Hazleton Railway Co. (Pennsylvania incorporation) and deposited
the same, together with $140,000 (entire issue) of the Lehigh Traction Co.'s
5% certificates of indebtedness and $922,200 of the stock of $1,000,000 of
the Lehigh Traction Co., as security for the Wilkes-Barre & Hazleton Railroad Co. issue of first collateral trust mortgage 5% gold bonds. V. 72
1281. Franchises are 999 years in and around Hazleton and perpetual
Hazleton to Wilkes-Barre.
from
p.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$2,500,000
Common $2,500,000 ($100)185,500
Pref 6% non-cum $700,000_
5 g M-N15 1,900,000 May 15 1951
Collateral trust mortgage $2,-1 1901
500,000 gold ($1,000)_ _ _c*lInt. at Guaranty Trust Co., N. Y., Trustee.
5 g A-0
1,227,000 Oct. 1 1945
Collateral trust mortgage $1,-1 1905
__cl Int. at Guaranty Trust Co., N. Y., Trustee.
500,000 gold
($1,000)-.-Of the authorized issue of $2,500,000 coll, trust bonds of
Bonds and stock
1901,$600,000 are reserved to retire all bonds of the Lehigh Traction Co. A.
sinking fund of $20,000 per annum, commencing June 1 1908, is to be invested in the collateral trust bonds or in bonds purchasable by savings banks
in New York State. See V.72, p. 1281; V.78, p. 289. The collateral trust
terminal bonds have a sinking fund of $10,000 per annum, commencing in
1910. Bonds can be called beginning April 1 1910 at 110. Preferred stock
can, at option of company, be changed at any time into the bonds of the
company at par,said bond;to bear not less than 5 %,or may be redeemable
at par in cash.
EARNINGS.-For year ending Dec. 31 1906, gross, $308,536; net,
$165,649.
John B. Price; Treas., N. C.
OFFICERS.-Pres., A. Markle;
V.-P..
1292; V. 87, p. 679.
Yost; Sec., C. J. Kirschner.-V.83, p.
road.
trolley
-A
Co.
Traction
(1) Lehigh
ORGANIZATION.-Chartered Nov. 7 1892. Franchise perpetual.
Owns, controls and leases for 999 years at an annual rental of $1 each the
Hazleton & Suburban Electric By., capital $30,000; Hazleton & South
Side Electric By., capital $75,000; Hazleton & North Side Electric By.
capital $75,000. The $140,000 certificates of indebtedness and $922,200
of Lehigh Traction stock are deposited as security for the Wilkes-Barre &
Hazleton RR. bonds.
Date,
Interest. Outstanding. Maturity.
STOCK AND BONDS$1,000,000
.
Stock $1,000,000 ($100)
5 g J-D
500,000 June 1 1923
First mortgage $500,000 goldf 1893
($100, $500 $1,000).-c*1Markle Bkg. & Tr. Co., Hazleton, Trustee.
140,000
Certificates of Indebtedness_
30,000
5 g A-0
1925
Hazle Park bonds,$60,000_ _ _ 1895
ROAD.-Operates 22 miles of track, new 58-1b. steel Trails, oak ties, well
ballasted. Road extends from Hazleton to West Hazleton, to Yorktown
(connecting with Pennsylvania RR. and Lehigh Valley RR.), to McAdoo
(south) and Mllnesville, Latimer Mines and Freeland (north).
OFFICERS.-Pres., A. Markle; V.-P., W. H. Lawall; Sec., C. J.
Kirschner: Treas., s. C. xrost; Supt.. C. B. Houck.-V.64, p 23:4; V. 66,
p. 233; V. 72, p. 1279.
(2) Wilkes-Barre & Hazleton Ry.-A trolley, steam and third-rail road.
ORGANIZATION.-Chartered Dec.13 1899 under General Railroad Law
Act of April 4 1868, State of Pennsylvania. The Wilkes-Barre & Hazleton
RR. owns the entire stock and bonds.
Decision Regarding Fares.-Judge Fuller at Wilkes-Barre Aug. 31 1908
granted an injunction restraining authorities of Luzerne County from
bringing suit to prevent company from raising passenger fares above 2 cents
per mile. Company had reduced rate Oct. 1 1907 in compl ance with 2-cent
fare law passed by Pennsylvania Legislature, but, findingpassengerbusiness
unprofitable on that basis, desired to restore old rates. See V.87, p. 679.
Interest. Outstanding, Afaturity.
Date.
STOCK AND BONDS$1,500,000
Stock $1,500,000 full paid_
5 g MN
1,500,000 May 1 1951
First mortgage $1,500,0001 1901
1Interest at Guaranty Trust Co., N. Y.. Trust.
gold
ROAD.-Owns 27 miles of road from Hazleton to Wilkes-Barre, and uses
for terminals 1 mile Lehigh Traction Co. track at Hazleton and 2 miles
Wilkes-Barre Terminal RR. Co. track at Wilkes-Barre; total, 30 miles.
Commenced partial operations on Jan. 12; remainder on May 1 1903.
Rails, 95 lbs.
EARNINGS.-For 12 months ending Dec. 31, 1907, gross, $182,212; net,
$90,070. In 1906, gross, $150,056; net, $92,018.
OFFICERS.-Pres., A. Markle; V.-P. and Gen. Mgr., C. 13, Houck;
Treas., N. C. Yost; Sec., D. T. Evans; Comp., C. J. Kirschner; Supt. of
Transportation, A F. Harger.
(a) Wilkes-Barre Terminal RR.
ORGANIZATION.-Incorporated on Oct. 9 1003. Stock authorized
and outstanding, $35,000 (par $50)• Bonds authorized, $600,000 (c&r):
outsanding $60,000 ($1,000). Date 1905; due Oct. 1 1945. Int. (5 g.
A-0) payable In New York. ROAD, 3 miles, between W. B. Ter. RR.
June. and Wilkes-Barre. Rails, 90-lb. T; gauge, 4 ft. 83-6 In, Pres., J. T.
Keith; Sec.,A. P. Goedecke; Treas., J. J. McGrehan.
[VoL. Lxxxvii.
ELECTRIC RAILWAYS
50
HELENA, MON.
THE HELENA LIGHT & RAILWAY CO.-Trolley, electric light and
power, gas light and fuel.
ORGANIZATION.-Incorporated in Connecticut in Sept. 1905 as successor to the Helena Light & Traction Co. V. 81, p. 1043. Controls the
Helena Gas Light & Coke Co.; comprises the city's entire street railways
and gas and electric-light plants.
Franchises expire April 4 1926.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Common $900,000
$561,000 Nov.'07, 1%
Preferred $600,000 5% cum__ ___ _
5 Q-J .31
374,000
Aug'08, 1 Wi
First mortgage $1,500,0001 1905
5 g M-S
Sept. 1 1925
835,000
gold ($1,000)
c*lInt. at Knickerbocker Tr. Co., N. Y., Trust.
Bonds.-The new bonds of 1905 are subject to call at 105 and interest on
or after Sept. 1 1910,$650,000 are reserved for extensions and improvements,
of which $500,000 may be issued only for 85% of cost. A sinking fund
of 1% % per annum of bonds outstanding commneces June 1 1908, which
will be increased to 23-i % per annum June 1 1918; said fund to be used in
retirement of bonds at not higher than 105 and interest. See V. 81, p. 1550.
$15,000 have been retired by sinking fund to date.
Dividends.-Five per cent per annum in quarterly installments is being
paid on pref. stock. First dividend on common, 1 %, paid Oct. 31 1906.
In 1907, Jan. 31, 1%; Aug. 1, 1%; Nov. 1, 1%; none since.
EARNINGS.-For 12 months ending Dec 31 1907, gross, $267,774; net,
$99 398; fixed charges, $42,500, sink. fund, $7,437; surplus, $49,461.
ROAD.-Operates 17 miles of track.
OFFICERS.-Pres., P. G. Gossier, New York; V.-P., M. H. Gerry Jr.,
Helena; Sec., H. S. Collette, New York* Treas., Geo. W. Bunnell, New
York; Asst. Sec. and Asst. Treas., A. B. Sibley. Operated under the general management of J. G. White & Co., New York Citv.-V. 81, p. 777,
889, 1043, 1550; V. 83, p. 1037.
HENDERSON, KY.
HENDERSON TRACTION.-A trolley road.
ORGANIZATION.-Incorporated in Kentucky Feb. 22 1907 as a successor to the Henderson City Ry., sold at foreclosure on Feb. 18 1907.
'l'he old taliway had a 3o-year francinse grant -Li in Oct. 1886, and also controlled the Henderson Ferry Co., which has since been sold. V. 84, p. 508.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$150,000
Stock *150,000 ($100)5gA-0
105,000 Apr.15 1927
First mortgage, $150,0001 1907
($1,000,$500,$100) gold_ 1Int. at Ohio Bkg. &Trust Co., Henderson,Tr.
Bonds.-Of the 1907 mortgage,the $105,000 bonds outstanding were used
to purchase the Henderson City Rallw ty. The remaining $45,000 are
reserved for extensions and improvements. They are subject to call on
April 15 1912 1917 and 1922 at 105. No sinking fund.
ROAD.-Operates
'
6 miles of street railway.
OFFICERS.-Pres., Chas. A. Hinsch; V.-P., H. P. Barret; Sec. and
Treas., Chas. E. Dallam.-V. 83. p. 330; V. 84, p. 339, 1428.
HOLYOKE, MASS.
HOLYOKE STREET RAILWAY.-Trolley.
ORGANIZATION.-Leases the Mt. Tom (incline) RR. until June 1 1922
at 6% per annum on the $100,000 stock. In 1907 issued $60,000 stock for
the purchase of the Hampshire Street By. (previously leased) on a sharefor-share basis. V. 85, p. 40. In Aug. 1907 issued $120,000 additional
stock for the purchase of the Amherst & Sunderland Street Ry. on a sharefor-share basis (V. 85, p. 294), giving a through connection from Holyoke
to Amherst and Sunderland.
Date.
STOCKInterest. Outstanding,Maturitilotc.
Stock, $1,073,600 ($100)- 8 J-J
$1,073,600 July'08, 4%
Deb bonds ($500, $1,000)__c* 1895
5 A-0
250,000 April 1 1915
Deb bonds ($500. $1,000)._c* 1899
5 A-0
85,000 Oct. 1 1920
Debenture bonds
1903
5A-0
265,000 April 1 1923
Leased line rental Mt Tom RR)
stock 6%
8
100,000
Current liabilities Sept 30 1907
75,862
Interest on all bonds payable at Holyoke National Bank.
Dividends.-In 1892 to July 1908 inclusive, 8% yearly.
-Has
68.7
ROAD.
miles of track, Including Mt. Tom (Incline) RR..
4,900 feet long, and connecting with the Woronoco Street By. to Westfield
Mass. Passenger cars, 120; other service cars, 26; snow-plows, 10; other
vehicles, 8; electric motors, 265.
EARNINGS.-Years ending Sept. 30 (1907 figures include 2 months
earnings of Amherst & Sunderland Street Ry):
1907,
1906
1907.
1906.
Gross earnings--$480,779 $446,921 Divs. paid (8%)_ _ _$64,000 $60,000
Net
180 453 165,746 Balance for year_sur.8.479 sur.9,072
Interest,taxes, &c 107,974
96,674
Balance for divs
72,479
60,072
Surp. Sept. 30_598,226 $89,747
OFFICERS.-Pres., Gen. Mgr. an Pur. Agt., Wm.S. Loomis; Sec. and
Treas.. Louis D. Pellissier; Supt., G H. Hunter, all of Holyoke.-V. 85,
p. 40, 284; V. 86, p. 52.
HOT SPRINGS, ARK.
HOT SPRINGS STREET RAILROAD.-Trolley.
ORGANIZATION.-Chartered in 1894; successor to Hot Springs Electric
Street By.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDSStock
$100,000
6 g J-D
First mortgage gold ($250,000) 1894
200,000 June 1 1924
St. Louis-Union Trust Co.. St. Louis, Mo., Trustee,
ROAD.-Operates 12 miles of track.
OFFICERS.-Pres., S. W. Fordyce; V.-P., H. E. Martin; Sec. and
Treas.. J. R. Mosby.
HOUGHTON, MICH.
HOUGHTON COUNTY TRACTION CO.-Trolley road.
ORGANIZATION.-Organized in 1908 and took over Houghton County
Street By., which latter company was incorporated in 1899. Franchises
In public streets expire in 1930 and 1933. Private right of way perpetual.
.
STOCK AND BONDStstanding, Maturity.
Common, $750,000 ($100)---- -----------------$750,000
Preferred, 6% cum $500,000
205,000 Oct.'08,3%
5 g J-J
1st consol mtge $1,600,000) 1908
400,000 Jan 1 1937
($500 and $1,000) gold- _--j Int. at City Trust Co., Boston, Trustee.
5 g J-J
Hough Co St By mtge 8750,- 1900
750,000 July 1 1920
000 gold ($1,000)
cflInt. at Boston Safe Dep. ec Tr. Co., Trustee.
Bonds.-$750,000 consol. mtge. bonds reserved for prior liens and $450,000 for future additions; they are subject to call for sink, fund. and as a
whole at any time after Oct. 1 1911 at 105 and int. Sink. fund, 1%% of
outstanding bonds after March 1 1910. The Houghton County Street By.
bonds can be called as a whole or In part at 105 & int. V. 87, p. 614.
REPORT.-Of Houghton County Street By. for year ending Dec. 31
1907, gross. $249,919; net, $94,001; interest, $47,449 divs. (6%), $12,000:
surplus, $34,552.
ROAD.-Owns 27 miles of track, including lines fromHoughton to Hancock and from Hancock to Lauri= Red Jacket, Wolverine, Lake Linden
and Tamarack City; 35 cars. 60, 70 and 85-1b. rails; standard gauge. A
4-mile extension to Mohawk is to be built.
OFFICERS.-Pres., F.J. Bawden, Houghton, Mich.; V.-P., H.G. Bradlee, Boston; Treas., Henry B. Sawyer, Boston; Acting Asst. Treas., R. E,
Bawden; Sec., Alvah A. Todd; Mgr., W. H. McGrath: Gen. Mgrs. and
Transfer Agents, Stone ec Webster,‘Boston.-V, 87, p. 614.
HUDSON, N. Y.
•
ALBANY & HUDSON RAILROAD CO.-Third rail.
ORGANIZATION.-Incorporated in New York on March 12 1903, and Is
successor to the Albany ec Hudson Railway & Power Co., sold under foreclosure on Feb. 11 1903, per plan in V.75, p. 847. Franchises are perpetual.
The interests which control this road propose to build a 22-tnile extension
from Nassau to the State line, under the title of Troy Albany & Pittsfield
Street By. (V. 86, p. 687) as part of a through route between Albany and
Pittsfield, Mass.
Funding of Coupons.-In Feb. 1908 bondholders were requested to
exchange coupons due March 1 and Sept. 1 in 1908 and 1909 for negotiable
certificates convertible into first mortgage bonds, the bonds to be taken
at the price of 87 . so that for each $875 of counons a $1,000 bond will be
given. V.86, p. 667. Up to latest accounts $1,200,000 bonds had accepted
proposition.
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INDIANAPOLIS COAL TRACTION CO.
INDIANAPOLIS & EASTERN RAILWAY CO.
INDIANAPOLIS & MARTLNSVILLE RAPID TRANSIT CO.
INDIANAPOLIS & NORTHWESTERN TRACTION CO.
INDIANAPOLIS & WESTERN RAILWAY CO.
RICHMOND STREET & INTERURBAN RAILWAY CO.
TERRE HAUTE TRACTION & LIGHT CO.
52
ELECTRIC RAILWAYS
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$750,000
Corn.. $1,000,000 ($100)
1908,
after
cum.
Pref.. 5%
1,000,000
$1,000,000 ($100)
5 g M-S
1,750,000 Mar. 1 1943
lst mort., 52,000.000, gold 1903
c* Int. at Trust Co. of America, N. Y., Trustee.
($1,000)
Bonds.-Interest was 4% until March 1 1906 but is now 5 %. No sinking fund and bonds cannot be called. See V. 75, p. 847.
ROAD.-Operated by third-rail system from Hudson via Rennselaer to
Albany. Comprises 37 miles of main line and 9 miles of sidings, with 2
additional miles of overhead trolley road to Hudson. Total, 48 miles. In
Feb. 1900, made contract giving It privilege to enter Albany over the
tracks of the United Traction of Albany. Operates 30 passenger cars and
14 freight and express cars, and 3 snow plows. Rails 70 and 80-1b. steel,
standard gauge. Supplies light and power along route.
EARNINGS.-For fiscal year ending June 30 1908, gross, $345,287; net,
5112.676; fixed charges, *114,203; deficit, $1,527.
OFFICERS.-Pres., A. M. Young; 2d V.-P., Clinton L. Rossiter; Sec.
and Treas., H. G. Runkle. 100 Broadway, N. Y.; Gen. Mgr., R H. Smith.
-V. 79, p. 680; V. 82, p. 803; V. 86, p. 667.
HUNTINGTON, W. VA.
olim VALLEY ELECTRIC RAILWAY CO.-A trolley road.
ORGANIZATION.-Incorporated in West Virginia in 1900. In June
1906 we were advised that franchises, such as are not perpetual, then had
from 15 to 40 years to run.
Change of Name.-In Feb. 1908 name was changed from Camden InterState By. to the Ohio Valley Electric Railway. On May 1 1908 acquired
$500,000 stock of Kanawha Valley Traction Co. and Issued pref. stock to
pay for purchase.
Interest. Outstanding. Maturity.
Date,
$141STOCFC AND BONDS$2,000,000
Common $2,000,000 ($100) _
$17,700
Pret 6% cum $400,000 ($100)
1,347,000 Mar 1 1921
5 g M-S
Cam Inter-State new M, $1,-1 1901
500,000, g ($1,000), no s f,}Citizens' Trust & Guaranty Co., Parkersand cannot be called_ _c&r1 burg, Trustee.
(2)
175,000
5 J-J
Hunt & Chariest RR guar by) ____
Camden Inter-State....._lint. at Real Estate Trust Co., Philadelphia.
1923
100,000
6%M-A27
Cons. L.t & By. M., guar _ _ _ __1923
50,000
6%J-J
Ashl. & Cattl. M.,guar ______
Bonds.-$150.000 of the new bonds are reserved to retire the first of like
amount, and $3,000 are In the company's treasury. Interest on the bonds
Is payable at the Union Trust & Deposit Co. of Parkersburg.
EARNINGS.-For calendar year 1907, gross, $410,740. In 1906, gross.
$381,283.
ROAD.-Operates 37 miles of track in and between Huntington, W.Va.,
Cattlettsburg and Ashland, Ky., and Ironton, Ohio. Extensions in Ashland and Ironton are being constructed.
OFFICERS.-Pres., Hon. Wm. C. Sproul, Chester, Pa.; V.-P., Wm. S.
Ellis; Sec. and Treas., Thos. McK. Hays, Huntington; Gen. Mgr., W. W.
Magoon, Huntington.-V. 80, p. 471; V. 83, p. 332, 491; V. 86, p. 603.
(1) Kanawha Valley Traction Co.
ORGANIZATION.-Incorporated in West Virginia in 1905. Stock
owned by Ohio Valley Electric By.
Interest. Outstanding, Maturity.
Date.
STOCK AND BONDS$500,000
Stock, $500,000 ($100)_
5 J-J
875,000 Jan 1 1946
First mortgage, $2,000,0001 1906 Fidelity
Trust Co., Phila., Trustee.
c.lint. at
($1,000)
W. Va. 70-lb.
track
MAChariestown,
of
miles
12
-Operates
ROAD.
Tjrall. Standard gauge.-V.83, p. 323.
INDIANAPOLIS, IND.
BROAD RIPPLE TRACTION.-A trolley road.
ORGANIZATION.-Organized as successor to the Indianapolis & Broad
July 1899. The Indianapolis
Ripple Rapid Transit Co. sold at foreclosure
but organization separate. Road is opSt. Sty. owns about 75% of stock,
Co.
and the Indianapois TracTraction
Union
Indiana
the
by
erated both
tion & Terminal Co.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS*100,000
Stock,$100,000 (par $100)
5 g J-J
400,000 July 1 1933
Mtg. gold, $400,000 (31,000)011899
Int. at Guar. Tr. & S.D.Co (Phila.), True.
Bonds.-Are guaranteed p. and I. by Indianapolis St. Ry. No. s f., and
bonds cannot be called. The Indiana Northern Tract. Co. also guar. the
principal and interest of half ($200,000) of the bonds and half of the interest
of the remaining $200,000 bonds until May 1913.
ROAD.-7&i miles of track from Indianapolis to Broad Ripple Park.
John D. Thomson; Treas.,
OFFICERS.-Pres., John B. Warner;
Sec., 78, p. 1187.
E. B. Peck.-V.69. p. 180; V.73, p. 137, 183;V.
INDIANAPOLIS TRACTION & TERMINAL CO.
ORGANIZATION.-Incorporated In Indiana on Aug. 4 1902 with
$500,000 capital, which was increased in Jan. 1903 to $5,000,000 ($1,500,000 being given to the Indianapolis Street Railway shareholders as a bonus),
to lease the Indianapolis St. By. and to provide terminal facilities for all
Interurban electric roads now entering or yet to enter Indianapolis. Franchlse is for 31 years, under the terms of which the company is to pay the
dty 4 cents per car for the first 11 years, 6 cents for the next 10 years and 9
cents for the remaining 10 years. On Dec. 29 1902 leased for 31 years the
Indianapolis Street By. V. 75, p. 1301. Widener-Elkins syndicate is
understood to be in control.
Interurban railways enter the city under agreements by which they pay
3 cents per passenger for all passengers carried in the city limits and an
additional 1 cent for those using the terminal station. V. 81. 1)• 264.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$5,000 000
Stock, $5,000,000
3,750,000 Jan. 1 1933
5 g A-0
1st mort., $5,000,000, gold l 1903
& S. D. Co., Phila., Tr.
Tr.
Guaranty
at
jInt.
f
s.
($1,000),
Bonds.-$1,250,000 are reserved for extensions . and betterments. A
1 1-5 % of bonds outsinking fund provides for the payment annually ofV.
76, p. 1085. Bonds
standing, including those in the sinking fund. See
102% and interest and are
may be drawn for sink, fund afterJan. 1 1908 atSee
V. 81, p. 264.
subject to call at that price after Jan. 1 1908.
ROAD, &c.-In addition to 136 miles of Indianapolis Street By., has
completed 11 miles of new double track, together with Interurban passenger
stations and two freight depots.
EARNINGS.-For calendar years:
Sink. Fund Surplus.
Charges.
Net.
Gross.
Year.
$2,680,506
1907
_
$1,151,802
$1,424,468
$272,666
2,508,283
1906 ___
1,010,343
1,289,340
$62,666
216,331
2,207,578
_
1905
&
V.
-P.,
Gen.
McGowan;
J.
Mgr., Robt. I.
Hugh
,
es
OFFICERS.-Pr
J.
Sec.
&
Appel;
Treas., W. F. MUTodd; V.-P., E. B. Peck; V.-P.. John
holland. V. 81, p. 264; V. 82, p. 827; V. 83, p. 1411
system.
(1) Indianapolis Street Ry.-A trolley
ORGANIZATION.-Incorporated in Indiana March 7 1899. After
acquiring the Citizens' Street RR. of Indianapolis and the City Railroad,
made a contract with the City of Indianapolis agreeing to surrender the
rights and franchises of both companies and accept a new franchise running
only thirty-four years. The contract also provides that cash fares are not
are to be sold at the rate
to exceed five cents, with free transfers, and tickets
for one dollar.
of six for twenty-five cents and twenty-five
The company also binds itself to pay over to the city (which is to expend
from 1899 to 1925, and
it on the public works) the sum of $30,000 yearly,
$50,000 yearly from 1926 to 1932, inclusive, the contract expiring in 1933to purchase the property "at
see V. 68, page 723. The city gets the rightone
year before the expiration
any time within two years and not later than
of this contract," nothing to be paid for the value of the franchise. Law
sustained May 1902. V. 74, p. 936.
U. S. Court of Appeals decided
As to the three-cent fare case, which the
see Supplement of Nov. 1898, and
In favor of the Citizens' Co. In Dec. 1897,
1172.
181,
51,
p.
V.
65,
842,
1180;
V. 64, p.
Guarantees the'($400,000) bonds of Broad Ripple Traction Co., and owns
75% of its stock.
Lease.-On Dec. 29 1902 was leased to the Indianapolis Traction & Terfor dividend of
minal Co. for 31 years. See V.75. p. 1301. Lease provides
4% for
1 % Jan. 1 1003, then 3% in semi-annual installments for first year,
second year, 5% for third year and 8% after July 1908. As part considera1. Ion for lease, Indianapolis St. BR. shareholders were given $1.500,000
ind. Trac. & Term. stock.
Interest. Outstanding, Maturity&c
Date.
STOCK AND BONDS$5,000,000 July'08, 3%
J-J
Capital stock ($100)
6,000,000 Jan. 1 1933
4 g J-J
Indianapolis St. By, gen.) 1899
gold }Interest at Guar. Trust & Safe Deposit Co..
M.
$6,000,000,
Trustee.
Phila.,
c'j
($1,000), guar
4,000,000 May 1 1933
5 g M-N
Citizens' St. By. 1st M.,1 1893
New York, Trustee.
Co.,
Trust
Central
$4,000,000 gold
cJ
Interest on Citizens' consols at Fourtn Street Nat. Bank, Philadelphia.
The mortgage of 1899 was for $7,000,000, but $1,000,000 has been canceled. No bonds reserved for the Citizens' consols. The company binds
itself to pay to the Indiana Trust Co. a sum annually sufficient to redeem
at maturity the greater part of the entire issue of Indianapolis Street By.
bonds; this provision is guaranteed by the Indianapolis Traction & Terminal
Co. See V. 76, p. 542.
Stock and bonds listed on Phila Stock Exchange. V. 69, p. 851.
ROAD.-Operates 136 miles of track, with 350 cars. 90-lb. rail.
OFFICERS.-Pres., George Brown, Indianapolis; 1st V.-P., J. A.
Lemcke; 2d V.-P., Joseph S. Neff, Philadelphia; Sec. and Treas., Henry
Jameson; Asst. Sec. and Asst. Treas., C. H. Morgan 3d, Philadelphia. V.
76, p. 48 542. 593, 1085; V. 79, p. 151.
INDIANAPOLIS COLUMBUS Ec SOUTHERN TRACTION CO.-A
trolley road.
ORGANIZATION.-Formerly the Indianapolis Greenwood do Franklin
RR., which company was Incorporated in Indiana in 1895. Name changed
as above In Jan. 1903.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$930,000
00
,
0
,Ugueog,e
01d
Stock $
5 g F-A
$1,000,0001 1903
1st
.
a.,1'1'1r0u2s3
i.
0r0.? P
Fheib
2,e
8m
c•jInt. at Trust Co. of N.6A
n)
e0
00
$1,C
.
(
goelndds
E
not be called. $318,000 are reserved for extensions and improvements at not exceeding *15,000 per mile. See V. 76, p. 654; V. 82,
p. 1212.
EARNINGS.-For year ending Dec. 31 1907, gross, $265,883; net, after
taxes, $107,550; interest, *31,750; surplus, $75,800. In 1906, gross, $240,.
er4e
p8
0,0
e , -$93
A
net,
R;on
034
tes 62.38 miles of track between Indianapolis, Franklin
3.86 miles belong to Ind. Trac. & Ter.
and Columbus and Seymour, of which Mostly
private right of way. The exCo. Standard gauge,60-lb. T rail.
Oct. 1907. It connects with
tension to Seymour, 20 miles,was completed
Indianapolis & Louisville Traction Co., thus forming a through line from
Louisville.
to
Indianapolis
OFFICERS.-Pres.,Jos. I. Irwin;V.-P., Wm. G. Irwin; Sec. and Treas,.
all of Columbus, Ind.-V. 77.
Ira E. Guthrie; Gen. Mgr., A. A. Anderson,
p. 823; V. 78, p. 1446; V. 82, p. 928. 1212; V. 86, p. 421.
TERRE HAUTE INDIANAPOLIS & EASTERN TRACTION.-(See
Map on page 51.)
March 23 1907 and
ORGANIZATION.-Incorporated in Indiana onBy.;
(2) Indianapolis
acquired by purchase (1) Indianapolis & Eastern
and (4) Richmond
Traction;
Western
&
Indianapolis
Coal Traction; (3)
Street & Interurban By
& Light Co. for 999
On March 25 1907 leased the Terre Haute Traction April
1907 leased for
years (see terms under that company below), and in
and the Indianapolis &
999 years the Indianapolis & Northwestern Traction
.
respective
companies)
under
terms
(see
Transit
Rapid
Martinsville
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS68,000,000
Common stock, $12,500,000
8,000,000
Preferred stock, $12,500,000 _ _
5500,000 April 1 1932
5 g A-0
J 1907
1st mtge,$10,000,000
1Fidelity Trust Co., Philadelphia, Trustee.
Bands.-Of the first mtge.,$1,000,000 is reserved to retire like amount
of bonds of Indianapolis 6: Eastern By. and Indianapolis & Greenfield.
EARNINGS.-For year ended April 1 1908, gross, $2,201,879; operating
expenses (including rentals, taxes, &c., and interest on $1,000,000 underlying bonds on owned mileage), $1,765,180; net, $436,699.
ROAD.-Operates a modern high-speed electric railway over lines
which comprise a continuous route from and including the city of Paris in
Illinois through the city of Terre Haute and towns of Brazil, Greencastle,
Amo, Clayton and Plainfield to the city of Indianapolis, and thence through
the towns of Greenfield, Knightstown, New Castle and Cambridge City to'
the city of Richmond in Indiana; also a line running south from Indianapolis to Martinsville, Ind.; a line running west from Indianapolis to Danville.
Ind.; and a line running northwest from Indianapolis to Crawfordsville
and Lafayette, and from Terre Haute a line north to Clinton, Ind., and a
line south to Sullivan, Ind., comprising a total mileage in single track of
379.54 miles, of which 45.55 are urban mileage and 333.99 miles interurban
mileage.
OFFICIALS.-Pres., Robert I. Todd; Treas., Jos. A. McGowan; Scc.,
W. F. Milholland.
Directors.-Hugh J. McGowan, W. Kesley Schoepf, Randall Morgan,
Robt. I. Todd, J. J. Appel, Jos. A. McGowan and E. B. Peek. V. 84,
p. 572, 750. 869, 997.
(1) Indianapolis & Eastern Ry.-Trolley.
ORGANIZATION.-Organized in 1902 under the laws of Indiana as a
Transit and the Inconsolidation of the Indianapolis do Greenfield Rapid
Franchises are for 50 years in Marion and
dianapolis & Eastern Traction.
and 30 years in
Henry
counties
and
Hancock
in
perpetual
Wayne counties,
of both common
the cities of Greenfield and Knightstown. Entire issues
and preferred stocks are owned by the Terre Haute Indianapolis ,Ss
Eastern Traction.
Interest. Outstanding, Maturity.
Date.
STOCK AND BONDS$1,000,000
Corn., $1,000,000 ($100)
165,000
Pt.$200,000 ($100)
jtile700,000 July 1 1927
02et
00e0.1 1902
1st consol. mtge., 51,000,0001
Trust
Co., N. Y. or at
Mercantile
mt.
gold 01,000). s.
Central Trust Co., Indianapolis,3000m.Trius1t9e2e9
.
c..-1
Ind. & Green. 1st M., $300
ings
j
&
Cl5t.°Sja-v
Trust
Co.,
t
9
0a
.
8
1t
In
Tr.
Cleve
000 (31,000), gold
'
i or at First National Bank, New York
$300,000 are reserved to
Bonds.-Of the 31,000,000 consols authorized,
first 5s. A sinking fund becomes operGreenfield
&
retire the Indianapolis
the
in
company's bonds if they
ative after 5 years. Fund is to be invested
interest. Bonds cannot be called.
can be bought at not more than 105 and
& Greenfield bonds, $12,500 is payable
See V. 75, p. 342. On the Ind. Oct.
1 1904, with which bonds beginning
yearly to a sinking fund beginning
interest; 136,000 have
with No. 1 are being purchased at 105 and accrued
been so purchased. The $200,000 2d mtge. bonds of 1904 have been canceled and mortgage discharged.
track, including 50 miles from IndiROAD.-Owns about 605i miles of
with the Indianapolis Street By., over
anapolis city line, where it connects
under a 33-year contract, to
whose track it operates within Indianapolis
with the tracks of the Richmond Street
Dublin, where connection is made of
10 miles from Dunreith to Newcastle
Railway. Also operates a branch ralls.-V.
78, p. 229, 2012; V. 80, p. 711;
on private right of way. 70-lb. T
V. 81, p. 975; V. 83, p. 37.
-Trolley.
Traction.
(2) Indianapolis Coal
and is successor to the IndianORGANIZATION.-Incorporated in 1901
April 1907 was sold to the Terre
apolis & Plainfield Electric RR. Co. InCo.,
which owns entire $2,500,000
Haute Indianapolis & Eastern Traction
stock. No bonds.-V. 84, P. 749.
electric road.
(3) Indianapolis & Western Traction Co.-An
in 1905. Entire Issues of
ORGANIZATION.-Incorporated in Indiana
($750,000) stock are owned by
both common ($1,250,000) and preferred No
bonds.-V.84, p. 570, 749.
the Terre Haute Indianapolis & Eastern.
(4) Richmond Street & Interurban Ry.
$500,000; all of which is
outstanding,
Capital (authorized). $600,000;
owned by the Terre Haute Indianapolis & Eastern. All bonds have been
canceled.-V. 8.1, p. 749.
Light Co.(5) Terre Haute Traction & leased
to the Terre Haute Indianapolis &
Leased.-In March 1907 was
The latter company guarantees
years.
999
for
Eastern Traction Co.
and 2% on common for 1 ;4 years, 3% for
6% on $500,000 pref. stock thereafter
(1st semi-annual dividend of 1 %
1 year, 4% for 1 year,and 5% $1,000 per
year for organization expenses
payable March 31 1908). and
V. 84, p. 750.
in
1904 of the Terre Haute ElecORGANIZATION.-Is a consolidation
tric Co. and the Terre Haute Electric Traction Co. Principal railway
lighting
franchise
principal
perpetual' other franfranchises expire 1952;
chises average 30 years from Jan. 1 1906.
SEPT., 1908.1
53
ELECTRIC RAILWAYS
Interest, Outstanding. Maturity.
Date.
STOCK AND BONDS$2,000,000
Common,$2,000,000 ($100)
500.000 S'pt'08.3%
Pref., $1,000,000 ($100) 6% cu
1,963,000 May 1 1944
5 g M-N
First cons. mtge., $5,000,0001 1004
Trust Co. Boston.
Street
State
at
Jinterest
gold
1,500,000 July 1 1029
5 g J-J
Terre Haute Electric 1st mtg. 1809
$1,500,000 gold ($1,000) c. Int. at Boston Safe Dep.& Tr. Co., Boston.
Bonds.-The Union Trust Co. of Indianapolis and the Boston Safe Deposit
Of the
& Trust Co. are joint trustees of the Terre Haute Electric mtg
$5,000,000 consols, $1,500,000 are reserved to retire prior liens. The new
bonds are callable as a whole at 110 and Int. on any int. date. A sinking
fund of 1% of outstanding bonds commenced May 1 1906. 313,000 was
held by this fund on May 1 1908. The United States Trust Co. of Terre
Haute and the State Street Trust Co. of Boston are trustees of this mtge.
See V. 78, p. 2013
ROAD.-Embraces 100.25 miles of track in Terre Haute, including lines
from Terre Ilaute to West Terre Haute, Clinton, l3razil, Sullivan, Incl.,
and Paris, Ill. Rails, 40 to 80 lbs. 95 cars.-V. 84, p. 750.
(6) Indianapolis & Northwestern Traction Co.-A trolley road.
Lease.-In April 1907 was leased to the Terre Haute Indianapolis &
Eastern Traction for 900 years. The latter company will pay the interest
on the bonds and sinking fund; also 1 A % quarterly, or 5% per annum on
the $450,000 preferred stock and $500 per year for organization. V.84,p.869.
Entire issue of common stock owned by the Terre Haute Indianapolis
,S3 Eastern Traction.
ORGANIZATION.-Organized In 1902 in Indiana. Operates a modern
high-speed interurban railroad, standard-gauge, located upon private right
of way outside of the city corporate limits. Extends northwesterly from
the city of Indianapolis through the cities of Lebanon and Frankfort to the
city of Lafayette, with a branch from Lebanon to Crawfordsville, each of
which cities is the county scat of its respective county. Has trackage
rights to the business centres of Indianapolis and Lafayette.
The franchises run for 31 to 50 years and permit the carrying of freight,
express and mall, as well as passengers.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
$2,550,000
Common,$2,550,000
450,000
Pt., $450,000,6%,n. c
2,470,000 Mar, 1 1923
1st mtge., $3,000,000, goldl 1903
5 g M-S
($1,000)
c*lint. at Knickerbocker Tr. Co.. N. Y.. Trust.
Bonds.-The remaining $530,000 for improvements and additions at 50%
and 75% of cost. No sinking fund, but bonds can be called on any Interest
date at 110 and interest.
ROAD.-Embraces 92.25 miles of track between Indianapolis, Lebanon
Frankfort, Lafayette and Crawfordsville. Standard gauge 70-lb. T-rail.
Operates 20 vestibule and 4 freight cars. Power house and oat barn are at
Lebanon.-V,82, p. 49; V. 83, p. 37; V. 84, p. 749.
(7) Indianapolis & Martinsville Rapid Transit Co. A trolley road.
Leased.-In April 1907 was leased to the Terre Haute Indianapolis &
Eastern Traction for 999 years. The latter company will pay the interest
on the bonds; also $500 per year for organization. V. 84, p. 749. The
Terre Halite Indianapolis de Eastern owns entire issue of stock.
ORGANIZATION.-Incorporated In Indiana on April 241901. Operates
on private right of way except in incorporated towns.
Maturity.
srocK AND BONDS- Date. Interest. Outstanding.
$750,000
Stock, $750,000 ($100).
750,000 Jan. 1 1932
5 g J-J
1st mtge., $750,000 ($17,000){ 1902
c* & r. Union Trust Co. and Security Tr. Co. of Ingold
dianapolis, Trust. Int. at Sec. Tr. Co., Ind.
Bonds.-No sinking fund but bonds are subject to call after 10 years at
105 and interest. See V. 78, p. 1223.
ROAD.-Embraces 30 miles of track from Indianapolis to Martinsville
completed in May 1903. 70-lb. rails; standard gauge.-V. 83, p. 37; V.
84. p. 749.
INDIANAPOLIS CRAWFORDSVILLE & WESTERN TRACTION CO.
An electric road.
in
Indiana
1903
in
the
as
Consolidated
-Incorporated
ORGANIZATION.
Traction Co., but name changed in 1006 as above. Built entirely on private
right of way. In cities and towns has 50-year franchises which permit the
carrying of freight, express and mall matter
Control by Trustees.-Itoad is controlled by a board of five managing
trustees consisting of Sterling R. Holt of Indianapolis, Chairman; Edward
Hawkins ,Indianapolis; C. N. Van Cleave, Crawfordsville; A. E. Reynolds,
Crawfordsville, and A. M. Hewes, Chicago.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$1,500,000
Stock, $3,000,000 ($100)
1,500,000 May 21 1936
5 g J-J
First mortgage $3,000,000( 1906
c't Marlon Trust Co., Indianapolis, Trustee.
($1,000) gold
(Interest at Van Norden Trust Co., N. Y.
Bonds and Stock.-The underwriting agreement dated Feb. 21 1906 provides for the sale at 90% of not exceeding $1,500,000 of the bonds, with an
equal amount of stock as bonus. Bonds subscribed for were not to be sold
for less than 95% before July 1 1007. Sinking fund of A of 1 % yearly of
bonds that have been outstanding for 5 years becomes operative Oct. 1
V. 84. t).
191•!
ROAD.-Proposes to build 87 miles of track between Indianapolis and
the Illinois State Line, 6 miles east of Danville, where connection will be
made with the Illinois Traction Company's system. Section between Indianapolis and Crawfordsville, 45 miles, has been completed and is being
operated. Equipment consists of 6 regular and 2 limited passenger coaches
and 2 express cars, 300 h. p. each. Power house at Crawfordsville, two
700 k. w. direct connected compound condensing units.
OFFICERS.-Pres., A. A. Barnes, Indianapolis; V.-P., Ell P. Baker,
Crawfordsville; Sec., Edward Hawkins, Indianapolis; Treas., Oliver P.
Ensley, Indianapolis; Gen, Mgr.. Eugene Holcomb, Crawfordsville.-V.84,
p. 1247.
Owns the
ORGANIZATION.-Incorporated in Indiana on Feb. 4 1903
entire common stock of the Indianapolis & Southeastern Traction Co.. which
it also leases. Private right of way except in cities and towns. County
franchises perpetual. Franchises in cities and towns are for 50 years, except
n Indianapolls,In which 31 years. Has contract with Indianapolis Traction
& Terminal Co.. allowing its cars to enter Indianapolis for 31 years.
Interest. Outstanding. Maturity.
STOCK AND BONDSDate.
$2,000,000
Stock $2,000,000 ($100)_
2,000,000 July 1 1933
First mortgage $4,000,000J 1903 5 g J-J
gold ($1,000)
c'llnt. at Farmers' Loan & Tr. Co., N Y.. Trust
Bonds.-V.000,000 are reserved for extensions and improvements .No.
sinking funds, and bonds are not subject to call
EARNINGS.-For calendar year 1907, gross, $182,777. In 1906.
gross, $115,318.
ROAD.-Is to operate a double-track road from Indianapolis via Rushville, Connersville and Hamilton, to Cincinnati. Road is now in operation
to Connersville, 58 miles. Ten passenger cars and 1 express car. Uses the
single-phase alternating current system. 70-1b. T rails. Power-house for
the operation of all lines is located at Rushville.
OFFICERS.-Pres., Chas. L. Henry; Sec., J. F. Wild; Treas., John J.
Appel.-V.81, p. 668; V. 83, p. 37, 95, 272; V. 85, p. 221; V.86, p. 668.
(1) Indianapolis & Southeastern Traction.-A trolley road.
ORGANIZATION.-Organized in 1905 as successor, through exchange of
stock, of the Indianapolis Shelbyville & Southeastern Traction Co. Entire
common stock is owned by the Indianapolis & Cincinnati Traction Co.,
which also leases the road for 999 years and guarantees its bonds,and dividends on Its preferred stock after Oct. 1 1908, when that stock becomes
cumulative. Rental under lease to be 50% of gross receipts, from which
bond interest, taxes and dividends on stock are to be paid. V. 81, p. 668.
Franchises are perpetual in Marlon and Shelby counties and 50 years n
Shelbyville. Operates over private right of way with the exception of 3 A
miles. Has 31-year franchise from city of Indianapolis and arrangement
with the Indianapolis Traction & Terminal Co. allowing it entrance into city.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$600,000
Common $600,000 ($100)
800,000 See text.
Pref $600,000 see text ($100)_ 500,000 July 1 1935
5 g J-J
First mortgage $1,000,0001 1905
gold ($1,000) guar
Int. at Farmers' Loan & Tr. Co., N. Y., Trus
.190,000 Jan. 1 1932
Ind Shelbyv & Southeast 1st 1902
5 g J-J
tge $500,000 g($1.000) s fl Int. at Amer Tr. & Say. Bk.. Chicago, True.
Stock.-Dividends on preferred stock under lease are guaranteed by Indianapolis & Cincinnati Traction Co. as follows: Oct. 11906,2%; April 1 1907
1% %; Oct. 1 1907, 1 %; April 1 1908, 2 To; Oct. 1 1908, 2%: April 1
1909 and thereafter, 2% % semi-annually. This stock is redeemable at 105
and accrued dividend on any dividend date. See V. 81, p. 1375.
Bonds.-Of the $1,000,000 new bonds, $500,000 is reserved for prior liens.
The new bonds are subject to call on any interest date at 105 and interest.
Of the Indianapolis Shelbyville & Southeastern bonds, the entire issue may
be called on any interest date at 110. A sinking fund on these bonds of
$10,000 per annum commences Jan. 1 1908, for which bonds can be called
at 105, beginning with the lowest number. $10,000 have been retired.
EARNINGS.-For calendar year 1907. gross, $199,621. In 1906, gross.
$117,443.
ROAD-Operates 47 miles of track, connecting Indianapolis with Shelbyville and Greensburg. 60-1b. T rails. 10 passenger and 2 express cars.
OFFICERS.-Pres., George A. Ball; V.-P., Fred. C. Gardner; Sec.,
John E. Reed; Treas., J. F. Wild; Gen. Mgr., Chas. L. Henry.-V. 77.
p. 250, 1874, 2159; V. 81, p. 668 1375.
IRONWOOD, MICH,
TWIN CITY GENERAL ELECTRIC.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$400,000
Stock
136,000 Oct. 1 1930
5 g A-0
First mortgage, $200,000,1 1900
Trustee.
reks. at Milwaukee Trust Co., Tstee.
ec
a
($1,000)
trt
ROAD.-Owns 74 miles olfin
OFFICERS.-Pres. and Gen. Mgr., E. D. Nelson: V.-P., E T. Larson;
Sec. and Treas., H. F. Jahn.
ISHPEMING, MICH.
MARQUETTE COUNTY GAS & ELECTRIC CO.-A trolley road.
ORGANIZATION.-Incorporated in Maine on Nov. 19 1906 as reorganization of the Marquette County Gas Light & Traction Co., sold under
foreclosure. V. 83, p. 1037. Franchises expire 1936.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$750,000
Stock $750,000 ($100)
411,000 Jan 1 1932
First mortgage $750,000 goldl 1907 • 5 g J-J
1Int. at First Tr. & Say. Bk., Chicago, Trus.
($1,000)
Bonds -Of the $750,000 authorized, $339,000 are reserved for extensions
and improvements. A sinking fund of 2% of bonds outstanding begins In
1912. Bonds are subject to call on any Interest date at 105.
miles of track and also does gas and electric light
ROAD.-Operates 4
business in Negaunee and Ishpeming.
OFFICERS.-Pres., John B. Sears; Sec. and Treas., John J. Bryant
Jr., 226 La Salle St., Chicago.-V. 83, p. 1037, 1590.
ITHACA, N. Y.
ITHACA STREET RAILWAY.
In May 1007 A. H. Flint & Co. of New York purchased control of this
road and will rebuild the entire system In the city. V. 84, p. 1307.
ORGANIZATION.-Chartered Nov. 18 1884. In June 1908 merged
with the Cayuga Lake Electric By. and Ithaca & Cayuga Heights By.
which roads were formerly leased. In June 1907 the New York Railroad
Commissioners authorized a new mortgage for $750,000 as below.
Franchises granted May 13 1908 are for 90 years and cover double-tracked
INDIANAPOLIS NEWCASTLE & TOLEDO ELECTRIC RY.-An elec- portion of road. Other parts of system private right of way or franchises
perpetual.
tric road.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSIteceivership.-Judge Harvey in the Superior Court at Indianapolis Nov. 5
$325,000 1907-08,4%
1907 appointed the Union Trust Co. of Indianapolis receiver on application Stock, $325,000 (par $100)_ July 1 1957
g-J-J5
(1)
1907
is
$750,006,
Co.
planned
comto
mtge.
of
It
Installation
1st
New
Chicago, creditor.
of the Electric
c* Int. at Carnegie Trust Co., N. Y. Trustee.
gold
plete main line of road under the receivership by Dec. 1908. V. 85, p. 1270.
1 1922
Jay
175,000
J-J
6
1892
$175,000____
which
mortgage,
1008
First
15
permits
was
June
declared
in
agreement
force
creditors'
A
Int. payable at Farmers L. & Tr. Co., N. Y.
the issuance of 8% receiver's certificates as a first lien. Application has
75,000 July 1 1922
6 J-J
been made to Superior Court of Ohio for permission to issue $450,000 of Second mortgage, $75,000.... 1894
25,000 June 1 1922
6 J-D
Cayuga Lake Mee 1st mtge in_ 1894
these certificates. V. 87, p. 07.
Bonds.-The new bonds will be issued from time to time as expenditures
ORGANIZATION.-Incorporated in Indiana on Nov. 23 1904. Has
Interurban private right of way 50 to 100 feet wide, and private right of for improvements, &c.warrant. Sufficient has been reserved to retire
way within city limits of Indianapolis 150 feet wide to terminal at 10th Street prior liens. They are subject to call at 107. No sinking fund.
,ROAD.-Owns and operates 9.47 miles of track. 3% miles of addiand Massachusetts Avenue.
Interest. Outstanding. Maturity. tional track is now being constructed. Rails, 70-1b.
Date.
STOCK AND BONDS$3,500,000
REPORT.-For fiscal year ending June 30 1908: Gross, $120,465; net.
Stock $3,500,000
See text. July 1 1935 $42,506; other income, $1,684; charges, $23,356; dividends, $13,000;
5 g J-J
First mortgage $4,500,0001 1005
1Interest at Knickerbocker Trust Co., N. Y. surplus, $7,924.
gold ($1,000)
OFFICERS,-Pres., Chas. W. McChesney; V.-P., A. H. Flint; Sec. and
(2)
(1)
6%
Receiver's ctfs, $450,000
1908
Treas., H. A. Clark.-V. 72, p. 988; V. 84, p. 1307; V. 85, p. 40.
Bonds.-No bonds have been issued except for use as collateral.
ROAD.-Proposes to build from Indianapolis to Newcastle, 41 miles;
Newcastle to Muncie, 18 miles (for which right of way has been nearly all
purchased); Newcastle to Richmond, 28 miles. The Indianapolls-NewJACKSON, MISS.
castle trunk line, it is expected, will be completed and put in operation by
EDWARDS HOTEL & CITY RAILROAD CO
March 1 1000. Power house is at Newcastle. Will have 6 passenger cars
ORGANIZATION.-Incorporated July 19 1870 under a special charter
and 2 express cars.
granted by the Legislature of Mississippi for unlimited number of years.
OFFWERS.-Pres., David M. Parry; V.-P., Chas. S. Hernly, New
castle, See., W. E. Stevenson; Treas., Ell Marvin, Frankfort. General In 1008 purchased the Jackson Electric By. Light & Power Co. Maturity.
Interest. Outstanding.
Date.
STOCK AND BONDS.office, Traction Terminal Bldg., Indianapolis. V. 85, p. 1270; V. 87, p. 97.
$40,000
Stock $40,000
300,000 Jan 1 1938
c 1908
5 J-J
Mortgage $1,000,000
to retire Jackson Elec. By. Lt. & Pow.
Issued
were
-$300.000
Bonds.
INDIANAPOLIS & CINCINNATI TRACTION CO $700,000 reserved for betterments and additions. Cannot
bonds;
Co.'s
was
appointed receiver,
fleceivership.-In July 1906 Chas. L. Henry
be called,
owing to the inability of the company to sell its bonds, It is proposed to
ROAD.-Operates 12% miles of track.
convert part of the bonds into preferred stock. The receiver was authorOFFICERS.-Pres., F. G. Jones; V.-P.. Ben. H. Wells; Sec. and Treas..
ized to issue $900,000 6% receiver's certificates due Aug. 1 1007. V. 83, S. T. Carnes; Gen. Mgr., Jack Abbott.
p. 37, 95, 272. In July 1907 receiver was authorized to renew above certificates, $890,672 of which are outstanding. V. 85, p. 221. Dividends on
preferred stock of leased line have been paid as provided.
JACKSON, TENN.
neorganzzation.-In March 1008 a reorganization plan was proposed,
JACKSON RAILWAY & LIGHT CO.
providing for the transfer of trustees of all stocks and bonds,with the view
ORGANIZATION.-Incorporated in Tennessee in July 1906, and is It
to closing up the receivership, paying off the indebtedness and raising
Railroad Co. Franchise expire
Street
Suburban
&
the
to
Jackson
cessor
86.
Hamilton,
V.
Ohio.
to
Sec
money to extend the road from Connersville
p. 668. It is stated that interests/representing 09% of securities have In 1937. Also owns a park of 15 acres. Does lighting and power busines
railway.
street
to
addition
In
signed agreement.
•
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14 11111
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KANSAS CIT
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Kansas City Railway
and Light Co. System.
REFERENCES.
1C./"/X/
t't
5-
KANSAS
MAP OF TIIE
LTI
--Wrgi:711
NW 11
BALANCE OF ARGENTINE LINE
STRONG
• •
oromoun
GOOODDOO
0000.111110
001-1111001
ounrininn, •
flnnri
%Dffri
W. BELT RN':
ip
•
SOUTHERN SECTION
Same Scale
Electric Power Stations
"
O
Sub Station
• "
Car Barns
• Car Shops and Barns
SA_VMMVII DITUDarla
P
scr.
tot I if
H
roptk4
Valley Falls
_84
Winchester
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4 North Ced-
leasant Ridge
SANTA
dv
FORT LEAVENWORTH
Platte City
Easton
Linkville°
IC
LEAVENWORTH
nuna-vant
Stilling
Nashua
Hampton
ELECTRIC RAILWAYS
Ruble 0
Soldier7 orne
13arry
i‘laardson.
Waldron.
LANSING
Rock Creek,
Hil9t
cn
0
Etterkt•Jon
Linden
Ozawkie
Pope
NIaltby
Parkville
Jarbalo
TOPEKA
Ackerland
Oskaloosa
WOLCOTT
..cLouth
Fairmount
ma. Vista
Meriden.
Bethel
Vance
Ho re
Neely
Friedburg
Maloney
MAP OF THE
Kilmer
•c\-• •
r-I
N
MEE la2
mmtmii
-
KANSAS CITY-WESTERN
RAILWAY.
TOPE-K-A.
Newman
Menager Jc.
•e
Tongariox_ic
KANSAS
56
ELECTRIC RAILWAYS
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
Stock $600,000 ($100) _
$600,000
1st mtge $600,00rt (51,000)1 1906
5 g J-J
500.000 Jan 1 1937
No s f. Redeem at 105_ _c1Columbla Trust Co., Louisville, Trustee.
EARNINGS.-For calendar year 1907, gross, 568,827; in 1906, $45,821.
ROAD.-Operates 93 miles of track. 60-lb. rail. Completed a modern
power plant in 1907.
OFFICERS.-Pres., Harry WeissInger; V.-P. and Gen. Mgr., S. S. Bush;
Sec. and Treas., L. W. Botts, all of Louisville, Ky.-V. 83, p. 95.
JACKSONVILLE, FLA.
JACKSONVILLE ELECTRIC CO.-Trolley.
ORGANIZATION.-Incorporated in Florida in 1902 and is a consolidation of the Jacksonville Street By. Co., the Main Street RR. Co. and the
Jacksonville Electric Light Co.; railway franchise expires in 1932; lighting
franchise expires in 1911. Does practically the entire electric railway and
a portion of electric-lighting business of Jacksonville.
On Jan. 6 1908 purchased at foreclosure sale the North Jacksonville Street
Railway Town & Improvement Co. for $70,000. See V. 86, P. 421.
STOCK AND BONDS- Date.
Interest, Outstanding. Maturity.
Common,$800,000 ($100)____
F-A
5800,000 Aug'08. 3%
n-cum, ($100)__
Rf
6 F-A
216,400 Aeg'08, 3%
5 g M-N
1st mortgage, $1,250,000, gl 1902
1.162,000 May 1 1927
($1,000)
c*JInt. at Amer. Trust Co., Boston. Trustee.
Notes, payable J ly 1119(18
170000
,
Bonds are subject to call as a whole at 105 and interest on any interest
date. A sinking fund of 1 % annually of bonds outstanding commences after
May 1 1907, which may be used either for extensions and improvements or
In the purchase of bonds. The preferred stock Is redeemable at 120.
Dividends.-The first dividend on preferred of 3% was paid Feb. 1 1903;
and the same amountpaid each six months since then. First div. on common stock (2%) was paid Feb. 1 1905; Aug. I 1905 (V. 81, p. 211), 3%.
In 1906, 6%. In 1907, 6%. In 1908. Feb.. 3%; Aug., 3%.
EARNINGS.-For the 12 months ending June 30 1908, gross, $410,628;
net, $159,844; Interest and taxes, $92,554; improvement fund, $10,491;
balance, $56,799.
ROAD.-Operates 32 miles of track, exclusive of the recently acquired
North Jacksonville St. By., Town & Imp. Co., which owned 6.4 miles of
electric railway. Has 76 cars. Rails, 40 to 70 lbs. Gauge, 5 ft.
OFFICERS.-Pres., Geo. J. Baldwin; 1st V.-P., Charles F. Wallace:
2d V.-P., H. G. Bradlee; Treas., Henry B. Sawyer; Sec., Alvah K.
Todd;
Gen Mgrs. and Transfer Agents, Stone & Webster, Boston.-V. 81,
P•
211; V. 88. p. 421.
JAMESTOWN, N. Y.
JAMESTOWN STREET RAILWAY.-Trolley.
ORGANIZATION.-Incorporated Oct. 18 1883. Franchise runs till 1982.
STOCK AND BONDtstanding. Maturity.
Stock, $250,000 (par $50)----- -----------------$100,000
1st mortgage 5300.000 goldl 1893
6 g J-J
300,000 Jan 2 1923
($1,000)
l.
ter
ton Trust Co., Trus.
Bills payable June 30 1907---------------------244,854
Open accounts June 30 1907-----342,859
EARNINGS.-For year ending June 30 1907. gross, $166,445; net,
$61,668; fixed charges, $33,591; surplus, $28,077.
ROAD.-Owns 24.643 miles of track, 55 cars, 2 sweepers.
OFFICERS.-Pres., A. N. Broadhead; V.-P., L. B. Warner; Sec. and
Treas.. S. B. Broadhead; Gen. Mgr., G. E. Maltby, all of Jamestown.
CHAUTAUQUA TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated in New York on March 7 1903. Is
controlled by the same interests as the Jamestown Street Ry.
STOCK AND BONDSDate.
Interest. Outstanding, Maturity.
Stock, $500,000 ($100)$500,000
1st mortgage, $600,000, gold) 1904
5 g A-0
159,000
1934
($1,000)
cl Int. at Title Guar. & Tr. Co., N. Y., Trustee.
Bonds.-$100,000 are reserved for extensions. &c. No sinking fund and
are not subject to call.
EARNINGS.-For year ending June 30 1907, gross, $95,739; net, $43,423; fixed charges, $16,665; surplus, $26,758.
ROAD.-Operates 26.73 miles of track from Lakewood, where connection is made with the Jamestown St. Ry., to Mayville, there connecting
with the Pennsylvania RR., and to Westfield, N. Y., connecting there with
the Lake Shore & Mich. So. and the N. Y. Chicago & St. Louis By. Standard gauge; 80-lb. T rail.
OFFICERS.-Pres., A. N. Broadhead; V.-P., Win. Broadhead; Treas.
S. B. Broadhead; Sec., W. R. Reynolds; Mgr., Geo. E. Matbyl; Supt.
Austin A. Harvey.
JERSEY CITY, N. J.
PUBLIC SERVICE CORPORATION.
See statement and maps under "Newark, N. J."
JOHNSTOWN, PA.
JOHNSTOWN PASSENGER RY.-A trolley road.
ORGANIZATION.-Incorporated in Pennsylvania on May 8 1882.
Franchise expires in 1981.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock, $2,000,000 ($50) ____
Q-M 31
$2,000,000 Af•fr31'08,%
1st mortgage, $250,000, gold 1890
g $1-S
229,000 Mch 1 1910
($1,000)
c Int. at Fidelity Trust Co., Phila., Trustee.
Con M. $800,000, g ($1,000) 1899
4 g J-D
399.000 Dec 1 1929
can b.: c II, any int day.c* Int. at Guaranty Trust Co., N. Y.. Trustee.
New ferrtgage, $2,000,000 1901
4 g J-D
1,302,000 Dec 1 1931
gold (51.000)
c* Interest at Johnstown Trust Co., Trustee
Bonds.-Of the new mtge. of 1901, $628,000 is reserved to retire
lying liens. Entire issue may be called at any time at 105 upon 30underdays'
notice. See V.73, p.1313.
Dividends.-In 1894, July I, 6%; in 1895, 12%; 1896, 6%; 1897, 6%,
1898, 6%;in 1899,8%;in 1900 (on new stock). 4%;in 1902. none; in 1903;
2%;in 1904, 2%;In 1905. 2%;in 1906, 3%;in 1907, 3%; in 1908, March,
U%.; none since.
EARNINGS.-Year ending Dec. 311907, gross, $488,555; net, $225,126;
Interest, $87,585; surplus, $137,541.
ROAD.-Owns and operates about 33 miles of track, Including an extension from Johnstown to Windber. 11 miles. completed on Jan. 1 1902.
A 2-m le extension is being built.
OFFICERS.-Pres., T. C. Du Pont, Wilmington, Del.; V.-P., William
R. Thomas, Johnstown; Sec., S. E. Young, Johnstown; Treas.. Herman
Baumen, Johnstown.-V.72, p. 936; V. 73. p. 662, 1313.
,1
JOLIET, ILL.
JOLIET & SOUTHERN TRACTION CO.
-
ORGANIZATION.-In January 1907 purchased the Joliet Plainfield &
Aurora RR., which It now operates. It is understood that the new
issue given below will be used chiefly to finance the construction ofbond
new
lines, including those for which the Fisher Construction Co. has the contract. V. 85, p. 722.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
. Stock, $1,500,000 ($100)
$1,500,000
1st mtge, $1,500,000, gold 1907
5 g F-A
367,000
See text.
($500 and $1,000)
c* Int. at Amer. Tr. & Say. Bk., Chic., Trustee.
Jo) P & A RR $400,000, goidi 1903
5 g F-A
400,000 Aug 1 1938
($1,000)
cs eer Int. at Amer. Tr. & Say. Bk., Chic., Trustee.
BONDS.-Ist mtge. bonds mature serially ending 1942. $400,000
reserved to retire the Joliet Plainfield & Aurora RR. bonds. The latter are
are
subject to call on any int. date after 10 years at 105 and int.; a sinking fund
of 2% of gross earnings begins Aug. 1 1909, but at least $3,000 yearly 1909
to 1929; thereafter $4,000 yearly.
EARNINGS.-Of the Joliet Plainfield & Aurora RR. only for calendar
year 1907, gross, $80,109; in 1906, gross, $82,960; in 1905, gross, $73,018.
ROAD.-Operates 26% miles of track between Joliet and Aurora and
Joliet and New Lenox. Forms a connecting link between Chicago & Joliet
Electric and Aurora Elgin & Chicago RR. Is extending line from New
Lenox to Blue Island and Chicago Heights, of which 4 miles to Frankfort are
completed. Formerly had contract with Chicago & Joliet for use of terminals at Joliet, but in 1907, at a cost of $200,000, constructed independent
entrance and terminal, and with a sub-station of its own is getting
its power
from the Economy Co. Has long-time contract for use of terminals
at
Aurora. 60-1b. T rail, standard gauge.
OFFICERS.-Pres., H. A. Fisher; V.-P., John M. Raymond; Sec.,
J. K. Newhall; Treas., L. D. Fisher; Gen. Mgr., F. E. Fisher.-V. 85.
p. 722, 1005
[VOL. Lxxxvii.
BLOOMINGTON PONTIAC & JOLIET ELECTRIC RY.-A trolley road.
In 1907 the Fisher syndicate, which controls the Joliet & Southern Traction Co., obtained control and officers elected as below. V. 85, p. 1004.
ORGANIZATION.-Incorporated in 1903. Private right of way except
in cities, where franchises run 50 years.
STOCK AND BONDtstanding. Maturity.
Stock, $2,500,000 ($100)------ ------------------$300,000
5 g MS
1st mortgage, $2,500,000,1 1905
370,000 Sept 1 1935
gold ($1,000)
lint. at Amer. Tr. & Say. Bk., Chic., Trustee.
Bonds.-Sub, to call at 195 & int. on any int. date. No sink. fund.
ROAD.-Has under construction a line to connect the points named in
the title, of which 20 miles, between Pontiac and Dwight, is in operation.
OFFICERS.-Pres., H. A. Fisher; V.-P., D. S. Meyers; Treas., L. D.
Fisher; Sec., John K. Newhall; Gen. Mgr., F. E. Fisher.-V.85, p. 1004.
KANSAS CITY, MO.
KANSAS CITY RAILWAY & LIGHT CO.-(See map on page 54.)
ORGANIZATION.-Incorporated in 1903 in New Jersey and has acquired the entire outstanding capital stock of the Metropolitan Street Railway of Kansas City and the Kansas City Electric Light Co. (Plan in V.
78 p. 1143.) Through Metropolitan Street Railway stock, the Kansas City
Railway & Light Co. acquired the stock of the Central Electric Railway
Co. and practically all of the stock of the Kansas City Elevated Railway
Co..and, through the stock of the Kansas City Electric Light Co.,it acquired the stock of the Edison Electric Light & Power Co. (of Kansas
City), the Consolidated Electric Light & Power Co., the Standard Electric
Light Co. and the Kansas City Electrical Wire Subway Company-except,
of course, in each instance the qualification shares held by directors.
Controls all the street railway, electric-lighting and power business in cities
of Kansas City, Mo., and Kansas City, Kan.
Owns entire stock of the Kansas City & Westport Belt By.(a steam
road, since converted to electricity), which on June 16 1906 absorbed the
Inter rban South Side By.. both having perpetual charters and being organized under te General Railroad Law of Missouri; also acquired capital
stock of the Kansas City Heating Co., having a franchise which expires in
1935. This last distributes steam in the business centre of the city.
Street Railway Franchises.-The franchises of the railway lines in Kansas
City, Mo.. in which city the greater part of system Is located, were revised
and confirmed in July 1902 and franchises granted for extensions and valuable trackage rights in newly populated portions of the shopping and
delivery distr cts. all of which franchises are operative to the uniform date
of June 1 1925. The railway franchises in Kansas City, Kan., have recently been renewed and authority given to build extensions, all for the
maximum period for which the city had power to grant the same, namely
to Dec. 19 1922. By the terms of the franchises the rate of fare is definitely
fixed at 5 cents, transfer privileges are provided, and the taxes practically
limited to 8% of the annual gross receipts.
Electric Light Franchise.-The franchise of the Kansas City Electric Light
Co. Is perpetual.
STOCK AND BONDSInterest. Outstanding. M 2turity
Date.
080
Common,$12,500,000$9,543,
Pref., 5% n. c., $12,500,000: __
5 Q-M 9,407,200 Sept'08 131 %
1st lien refund, M., $20,000 -I 1903 5 g M-N15 9,220,000 May 15, 1913
000 gold
cs &rJNew York Trust Co., N. Y., and Henry C.
Fowler, Trus. Int. at Co.'s agency N. Y.
1 or Kansas City.
Notes, $5,500,000 ($1,000) __ 1907
Sept 1 1912
4,125,000
6 M-S
Underlying Liens.
Corrigan Con. St. By. 1st). 1886
406,000 July 1 1916
5 g J-J
M.($1,000) g., red. at 110k Int. at Central Trust Co., N. Y., Trustee.
Met. St. By. gen. mort. 1889
5 g M-S
1,000,000 Sept. I 1909
($1,000,000), gold
Int. at New Eng. Trust Co. Boston, Trust.
K. C. Cable 1st At., ext. Ini 1887
1,050,000 Apr. 1 1911
5 g A-0
gold, 1897, guar. p. & I. }Int. is payable in N. Y. by Blair & Co. and
ext. In 1901; red. at 102 %1 in Boston by New Eng. Tr. Co., Trustee.
Street
Summit
M., old 641 1887
300,000 Apr. 1 1911
5 A-0
ext. In 1897 and again In
Redeemable at 1023 at any time.
1901
Metropolitan St. By. con.) 1895
5,744.000 May 1 1910
5 g M-N
mortgage.
$8,500,000,}Int. at Old Colony Trust, Trustee, Boston.
crJ
gold
ec Inter. st also p tyable in New York.
Cent. Elec. By. 1st mort.,1 1899
5 g M.N
2,000,000 May I 1914
$2,500,000 ($1,000) gold, Interest at Trust Co. of Am.. N. Y., Trustee
guar
co
Bonds may be called at 105 on any interest
day on 30 days' notice.
1901
5 g J-J
250,000 July 1 1911
East Side Elec. Ry. 1st M., Int. at Trust Co. of Am., N. Y. Trustee.
$250,000 gold ($1,000), Wm. Huttig of Kansas City is also Trustee.
not guar
cs No s. f., but may be called at par at any
Interest date.
Controlled Companies.
Kansas City Elevated By.
1st M. pref. ($800.000)
6 g J-J
$600.000 July 1 1922
g. ($1,000) guar. p. & I. c* 1892
2.000,000 July 1 1922
4 g J-J
2d M. gen'l ($2,000,000)1 1892
g. ($1,000) guar. p. & 1.JInterest at Manhattan Trust Co., N. Y.
Kan. C. & Westp. 1st AL.
500,000 July 1 1928
$500,000,
5 g J-J
gold,
guar.) 1906
Interest at N. Y. Trust Co., N. Y., Trustee.
($1,000)
Bonds.-Of the new $20,000,000 mortgage of the Kansas City By. & Light
Co.. $10,780,000 are reserved for underlying liens. These bonds are both
coupon and registered, the coupon bonds being in denomination of $1,000
and the registered bonds in denominations of $1,000, $10,000 and $50,000.
The new bonds are redeemable at 105 and int. on any Int. date. The Metropolitan St. By., the Kan. City Elec. Lt. Co. and the Cent. Elec. By.In May
1903 made mtge. notes aggregating $10,500,000, which are deposited as
collateral under the new Kansas City By & Light Co. mortgage; the share
capital acquired of the Kansas City Elec. Light Co. and the Metropolitan
Street By. has also been so deposited.
Notes of 1907 consist of $4,125,000 series "A" and $1,375,000 series "B."
They are redeemable after Sept. 1 1908 on 8 weeks' notice on any int. date
at 100 and accrued int. They are secured by pledge of $5,500,000 notes of
Metropol. St. By., $1,000,000 notes of Kan. City Elec. Light Co. and $2.695,000 corn. and $2,977,900 pref. stock of the Kan. City By. & Lt. Co., and
such securities of subsidiary companies as are pledged under the indenture
of May 15 19031, securing the lst Ilen ref. gold bonds. The series "A' note
are convertible after Sept. 1 1908 at option of holder into 6% shares of common and 7 shares of pref. stock. V. 85. p. 284. Series "A" only have
been issued, seres "B"- notes being held in reserve. V. 85, p. 469; V. 88,
p. 285.
Of the Metropolitan consolidated mortgage for $8,500 000, enough were
reserved to retire when due the existing bonds of the Corrigan. Metropolitan,
Kansas City
Cable issues described In the table above,
and
amounting now to $2,756,000. Not subject to call. The Kansas City
Cable and Summit Street mtgs. fell due April 11901, but were extended by
endorsement for 10 years.
The Kansas City Cable Ry. 5% bonds due in 1911 are guaranteed prin.
and int. by end by the Metropolitan St. By. The bonds of the K. C. as
Westport By. are guar. prin. and int. by the Kansas City By. & Light Co.,
and are subject to call on any interest date at 105 and int. on 90 days notice
Kansas City Elevated Ry. let M. preference Os are guaranteed, principal
and interest, by endorsement by the Metropolitan Street By.; so are the
2d M. general 4s. The guaranty on the latter was 3% per annum until
July 1895 and since then 4%. For form of guaranty, see V. 73, p. 1160.
Dividends.-First dividend, I% % on preferred stock was paid on June
1 1904 and 13(% quarterly since then to and including Sept. 1908.
REPORT.-For years ending May 31. See report in "Chronicle" issue
of Sept. 26. 1908. Passengers carried for revenue in 1908, 100,858,027:
transfers, 43,485,312.
1008.
1907.
1906.
$6,070,117 $5,677,998 $5,099,116
Gross earnings
3,228,174
Operating expenses
2,895,657
2,562,995
Net earnings
Miscellaneous income
$2,841,943
105,680
$2,782,341
43,099
$2,536,121
31,361
Total
Deduct: Accountants'adjustments
$2,947,623
23,918
$2,825,440
20,038
$2,567,482
10,155
Total net earnings
Fixed and other charges
$2,023,705
2,070,577
$2,805,402
1,896,746
$2,557,327
1,763,943
$853,128
$908,656
$793,384
Surplus
SEPT., 1908.]
ELECTRIC RAILWAYS
Out of the surplus for the year ending May 31 1907 ($1,049,773), $476,105
was paid in dividends (5%) on Mansas City Railway & Light preferred
stock and $55,000 was applied In bond redemptions.
Revenue passengers carried year ending May 31 1907, 94,996,998; transfer passengers carried, 41,074,800; total, 136,071,798.
ROAD -Comprises 127.655 miles of road and 244.466 miles of track.
Lighting (May 31 1908) equivalent of 583.271 16-candle power incandescent lamps.
OFFICERS.-Pres., Bernard Corrigan; V.-P. and Treas., W. E. Kirkpatrick; Aud., Sec. and Asst. Treas., J. A. Harder.-V.81, p. 555, 1723; V82, p. 1496; V. 83, p. 272, 319. 1470; V. 84. p. 1551; V. 85, p. 284, 339
469, 531, 600; V. 80. p. 185, 1529, 1589; V. 87, p. 37.
KANSAS CITY-WESTERN R A I I. W A Y.-(See map on page 55.)
Formerly the Kansas City-Leavenworth Railroad and name changed to
Kansas City-Western Railway. Principal franchises in Leavenworth 20
years from 1906.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock, $2,000,000 ($100)_
32,000,000
Bonds $5,000.000 First Re-} 1905
5 g M-S
1,650,000 Sept 1 1925
funding (coup, 31,000; r. Interest at Fisk & Robinson, New York.
$1,000, $5,000, $10,000)__ Standard Trust Co., N. Y. trustee.
Stock and Bonds.-$1.400.000 of bonds were issued to refund alike amount
of bonds outstanding of old company, all but $42,000 of which have been
retired, $100,000 for general corporate purposes, and $150,000 for Improvements; remaining $3,350,000 to be issued for acquisitions, extensions and
Improvements under customary restrictions. Entire outstanding Issue is
redeemable Sept. 1 1910 or any interest date thereafter at 105 and Int.
Stock in voting trust until May 1910.
REPORT.-For year ending June 30 1908, gross, $330,651; net (after
taxes), $121,711; fixed charges, $81,321; surplus, $40,390. In 1907,
gross, $280,514; net (after taxes), $98,237; fixed charges, $75,832; surplus,
$22,405.
ROAD.-Owns and operates 43.53 miles of road, of which about 18 miles
are within the city of Leavenworth and 2534 miles between that city and
Kansas City, Kan. Enters Kansas City, Mo., over tracks of the Kansas
City Viaduct & Terminal Ry., which owns and operates a steel and concrete viaduct connecting Kansas City, Kan., with Kansas City, Mo. Has
second entrance into Kansas City over tracks of the Metropolitan Strett Ry.
IMPROVEMENTS.-Since present management assumed control Important improvements to the road and equipment have been completed.
New cars have been acquired and old equipment overhauled and modernized.
OFFICERS.-C. F. Holmes, Pres.; C. F. flutchlrurs, V. P. and Gen. Attorney; S. D. Hutchings, Sec. and Treas.; J. W. Riohardson, Gen. Supt.;
W.M. Boner, Auditor. General office, Leavenworth, Kan.
57
STOCK AND BONDS.Date.
Interest. Outstanding. Maturity.
Stock $1.000,000
31,000 000
1st mortgage $750,000 gold) 1901
750,000 Nov 1 1931
5 g 13.1-N
($500 and 31,000)
Interest at Colonial Trust Co., Phila.,trustee.
Gen. mtge. $1,500,000 gold 1904
5 g J-D
750,000 Dec 1 1954
($1,000)
c* Int. at Fidelity Trust Co., Newark, trustee.
Bonds.-Of the $1,500,000 new bonds, $750,000 are reserved to retire
the first 5s. The new bonds are subject to call at any time after Dec. 1 1914
at 105 and interest.
ROAD.-Owns and operates 30 miles of road from South Amboy, Keyport and Bellford to Red Bank; Bellford through Atlantic Highlands to
Highland Beach; Frencau through Matawan to Keyport, N. J. Standard
gauge 60-lb. T and 70-lb. girder rails. Nearly all over private right of way.
OFFICERS.-Pres., Jas. H. Morris, Land Title Bldg., Phila.; Sec. and
Treas., J. B. Livingston, Keyport, N. J.; Asst. Sec. and Treas.,'Walter C.
Clark, Land Title Bldg., Phila.-V. 76, p. 1300.
KEY WEST, FLA,
KEY WEST ELECTRIC CO.-A trolley road.
ORGANIZATION.-Incorporated in New Jersey in 1898 and does entire
electric-light and power business In addition to entire street railway business
of the city: also owns franchise for manufacture of gas Franchises are for
99 years from 1898. In June 1904 acquired the Key West Electric Light
& Power Co. V. 78, p. 2334. In June 1906 was acquired by Stone &
Webster of Boston and re-capitalized as below. V. 82, p. 1496.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$435,000
Common $500,000 ($100)
230 000
Pref $230,000 ($100)6% n-c_
450,000 Aug 1 1956
First mortgage $1,000,0001 1906
5 g F-A
gold_
lInterest at State Street Tr. Co., Boston, Tr
Bonds.-Are subject to call as a whole at 105 and interest at any time.
One per cent of bonds out Is payable to a sinking fund beginning Dec. 1
1907, if earned; on Dec 1 1912 becomes obligatory. Preferred stock Is
redeemable at par after Dec. 1 1909.
EARNINGS.-For calendar year 1905, gross, $110,882; net, after taxes,
$34,075.
ROAD.-Operates 5 miles of track; 60-lb. steel rails; 10 cars. Gauge.
5 ft. 234 in. Supplies 14,906 16 c.-p. lamps and 119 h.-p. motors; also 35
arc lights.
OFFICERS.-Pres., George J. Baldwin, Savannah; 1st V.-P., Charles
F. Wallace; 2d V.-P., Wilbur A. Carter; Sec., Alvah K. Todd; Treas.,
Henry B. Sawyer; Gen. Mgrs., Stone & Webster, 147 Milk Street, Boston.
-V. 82, p. 1496.
KINGSTON, N. Y.
KINGSTON CONSOLIDATED RR MISSOURI & KANSAS INTERURBAN RY.ORGANIZATION.-This is a consolidation on Dec. 11 1901 of the KingReceiverstiip.-on June 6 1908 Judge Pollock in U. S. Court at Leavenston
City RR. and the Colonial City Traction.
receiver.
It
is
proposed
to
reorganize.
V.
Edson
worth appointed J. A.
86, p. 1467. Motive power is being changed from Strang gasoline cars to
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
electricity; expected to be completed by Dec. 11008. V. 87, p. 614.
Common,$200,000($100)$200,000
ORGAN IZATION.-Incorporated in Kansas. Has private right of way Preferred, 4% cum $200,000_ _
.____
200 000 Aug '08, 2%
except In cities and towns.
First consolidated mortgagef 1901
5 g J-J
534.000 Jan. 1 1952
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS.$700,000 ($1,000) gold-c•IInt. at Manhattan Trust Co., N. Y., Trustee.
_$1,000,000
Stock, $1,000.000 ($100)
Kingston City RR.
600,000 Jan 1 1956
1st mortgage $600,000 gold) 1906 5 g J-J
15,000 June12 1909
1879
7 J-I
First mtge $500 each
cjInterest at St. Louis Union Tr. Co. trustee. Consol $150,000 ($1,000) not' 1893
($1,000)
5 M-S
135,000 Mch. 1 1923
Bonds.-Payment of interest for two years from Jan. 1 1907 was supposed
subject to call before mat'y1Int. at Farmers' Loan & Trust C3.. N. Y.
to have been provided for by deposit of $100 for each bond. V. 84, p. 301. Debentures $10,000
5 J-D
1890
10,000 June 1 1910
ROAD.-Operates twenty miles of.road. from Kansas City through or Bond and mortgage_ _ _
6,000 On demand.
_ _
5 guar.
near Rosedale, South Park Merriam and Lenexa to Olathe.
Enters
Bonds.-$166,000of the
- new $700,000 consolidated mortgage is reserved
Kansas City over tracks of the Metropolitan Street Ry. 70-11). rails. Has to retire the Kingston City RR. underlying liens.
3 motor cars, 4 passenger coaches, 2 freight cars and 1 locomotive. V. 86,
Divi4ends.-4% has been paid yearly on preferred stock since consolip. 1467; V. 87, P. 614.
dation up to 1908, when 2% was paid Aug. 1. We are informed, however
that an additional 2% may be paid Nov. 1 1908.
ROAD.-Embraces 8 miles of track. Rails, 70,80 and 90-1b. 40 cars
KENNETT, PA,
3 snow-plows.
REPORT.-For year ending June 301908: Gross, $142,467; net, $49,295;
WEST CHESTER KENNETT & WILMINGTON ELECTRIC R Y.charges, $40,590; dividends, $8,000; surplus, $705.
ORGANIZATION.-Incorporated in Pennsylvania on May 24 1905, fixed
OFFICERS.-Pres., Charles NI. Preston, 27 William St., New York City;
and is a reorganization of a company of the same name sold under foreclosure V.-P.,
C. G. Reel, Kingston, and A. NI. Day, Danbury, Conn.; Sec., Aug. J.
In April 1905. On Feb. 26 1908 absorbed the formerly controlled Oxford Phillips,
Kingston; Treas., Abm. Hasbrouck, New York; Gen. Mgr., C.
West Grove & Avondale St. Ry., which is building the extension from
Gordon Reel, Kingston; Supt., G. B. te Bow, Kingston.-V.73, p. 1160.
Avondale to Oxford. See V. 86, D. 670.
STOCK AND BONDS.Date.
Interest. Outstanding. Maturity.
Common $925,000
$525,000
KITTANNING, PA.
Pref ($75,000) 6% non-cum
75,000 F
1st mtge $1,000,000 gold) 1905
5 g .J-D
420,000 June 1 1935 KITTANNING & LEECHBURG RAILWAYS CO.-A trolley road.
ORGANIZATION.-Incorporated In Pennsylvania on May 26 1904 and
($500 and $1,000)
cj Int. at Integ. T. I. Tr. & S. D.Co.. Phila.,Tr.
EARNINGS.--For year ending Dec. 31 1907, gross, $56,309; net after is a consolidation of the Kittanning & Leechburg Ry., the Kittanning 63
Ford City Street Ry.. the West Kittanning Street Ry. and the Kittanning
taxes, $11,785.
ROAD.-About 18 miles of track between Avondale, Kennett Square & Mosgrove Street Ry. Franchise is for 99 years.
and Wilmington, connecting at Kennett for West Chester. The extension
STOCK AND BONDSDate.
Interest. Outstanding. Maturity
from Avondale to Oxford, 1234 miles, has been completed as far as West Stock, 3500,000(350)
3500 000
Grove. Gauge, 5 ft. 231 in. 60 and 70-lb. T and girder rail.
•
27,500
1934
First mortgage $750,000 gold J 1904
5 g J-J
OFFICERS.-Pres., Geo. Kessler, Phila.; V.-P., Clarence L. Harper,
cl Int. at Union Trust Co., Pittsburgh, Trustee
($1,000)
Phila.; Sec. and Treas., Philip E. Guckes, Phila.; Supt., H. Baluss, Kennett Loans payable June 30 1907_
$212 9,3
Square, Pa.-V. 80, p. 1060, 1176, 1730; V. 86, p. 670.
Bonds.-327.500 are reserved to retire a like amount of bonds of theKittanning & Ford City. New bonds are subject to call after 5 years at 103.
EARNINGS.-Of the Kittanning & Leechburg Railway for fiscal year
ending June 30 1908. gross, $55,486: net. $27,538.
KENOSHA, WIS.
ROAD.-Operates 11 miles of track between Kittanning and Ford City.
trolley
road.
RY.-A
KENOSHA ELECTRIC
Standard gauge; 70-lb. rails. An extension of 16 miles to Leechburg Is
In Nov. 11)05 control was acquired individually by A. C. Frost, President proposed.
of the Chicago & Milwaukee Electric Ry. V.81, p. 1492.
OFF ICERS.-Pres. and Mgr., F. A. Nloesta, Kittanning; Sec. and Treas..
ORGAN I ZATION.-Franchise is for fifty years from June 2 1902. In Jas. McCullough Jr., Kittanning.
May 1907111,1a certificate increasing capital to $1,000,000. V. 84, p. 1052.
Interest. Outstanding. Maturity.
Date.
STOCK AND 130ND--------------$500,000
KNOXVILLE, TENN.
Stock $1,000,000 ($100)--5 g A-0
500,000 April 1 1927
First mortgage $1,000,0001 1907
KNOXVILLE RAILWAY & LICIHT CO.
{Western Trust & Savings Bank and Wil($1,000) gold
Controlled
by
American
Cities Ry.& Light Co., which owns all the cornHoughby G. Walling, Chicago, trustees.
stock and nearly all of the preferred.
EARNINGS.-For 12 months ending Dec. 31 1907, gross, $55,555; net, mon
ORGANIZATION.-Incorporated in Tennessee on Aug.5 1905 as a con$30,351; in 1906, gross, $54,490; net, $32,756.
solidation of the Knoxville Traction Co. and the Knoxville Electric Light &
ROAD -Operates 4.1 miles of track In Kenosha and to North and South Power Co. Does all the street railway and all municipal and commercial
Kenosha.
and power business in Knoxville. Also controls the
OFFICERS.-Pres., A. C. Frost; V.-P., H. C. Osborne; Sec., Pierre G. electric-lighting
Knoxville Park Association, owning two amusement parks. Franchises
Beach; Treas., Henry E. Grant.-V.81, p. 1492; V. 84, p. 1052.
are perpetual, except as to 1 v, miles of street railway, which latter run until
Nov. 28 1946. Isidore Newtnan & Son of New York and New Orleans are
fiscal agents.
KEOKUK, IA.
Maturity.
Date. Interest. Outstanding.
STOCK AND BONDS$1,491,900Jun(30'08,1%
Common $1,500,000 ($100)_
KEOKUK ELECTRIC RY. & POWER CO -A trolley road.
500,000June3O'08,134
-cum $500,000 ($100)_
Q-J
Pref
6%
a
ORGANIZATION -Incorporated in 1900 as consolidation of the street1,932,000 Sept. 1 1945
5 glf-S
mtge 33,000,0005 1905
railway and electric-light interests in Keokuk. Also operates electric-light Consolidated
c• Int at Standard Trust Co., NewYork Trustee.
gold ($1,000)
and power plants. In May 1906 arc-lighting contract was extended 5 years. Knoxville Trac 1st M 3850,-f 1898
824,000 April 1 1938
5 g A-0
STOCK AND BONDS.Interest. Outstanding. Maturity.
Date.
000 g tax free($1,000)c•_ __ Int. at Baltimore Tr. & Gu. Co. Balt., Trus.
Stock $400,000 ($100)
$400,000
Stock and Bonds.-Of the $3,000,000 consols, $824,000 are reserved to
mortgage,
3250,000(3500)1
228,000
1900
5 g J-.1
1st
See text retire Knoxville Trac. Co. bonds, $134,000 are in company's treasury and
lint. at Royal Trust Co., Chicago, trustee.
gold
$110,000 are reserved for additions, $1,000 to be issued for each $1,250
Bonds.-Of the 3250.000 gold 5s, $125,000 are due July 1 1925, the re. expended. They are redeemable on and after Sept. 1 1910 at 10734 and
mature
In annual instalments, varying (Tom $5,000 to interest on 60 days' notice. Sinking fund annually of 34 of 1% of all bonds
mining: $125,000
$9,000 yearly, on July 1, from 1907 to 1924 inclusive. $22,000 had ma- outstanding (including Knoxville Traction bonds) begins Sept. 1 1910, and
tured up to Sept. 1908. Are redeemable at option of company at 105 and after 5 years is increased to 1% annually. The Knoxville Trac. Co. first
Interest after 1005. See V. 71, p. 182.
intge. bonds are not subject to call. $26,000 have been canceled PreROAD.-Owns and operates 8 miles of track and has contract with city ferred stock Is redeemable at 110.
for supplying 186 arc street lights at $60 per light per annum for 5 years from
Dividends.-6% per annum is paid on pref. stock since issuance. First
May 10 11)06.
dividend on common-2%-June 29 1907. 1% was paid Sept. 1907, and
OFFICERS.-Pies. and Man., A. D. Ayres; Sec. and Treas., Geo, E. C. 1% Dec. 1907. In 1908, March, 1%; June, 1%.
687.
V.
83,
p.
182;
Johnson.-V.71, p.
REPORT.-For calendar years:
Gross. Net after Taxes. Interest.
Surplus
190Year$605,777
$282,323
$129,010
$153,314
505,311
8
112,812
1906
218,780
17
05
s):922
69
KEYPORT, N. J.
394,036
1905
144,746
JERSEY CENTRAI.TRACTION CO.-Trolley.
1
ROAD.-Owns 39 miles of track. Including 9 miles of double track.
6 70-lb
ORGANIZATION -This was formerly known as the Keyport & Mata- and over T and girder rail. Has 26 open cars, 44 closed and semi-conwan Street RR., a horse line, but has been operated as an electric railway vertible cars and 15 freight service cars; total, 85. Owns one park and
since July 1901, and name ehanged as above on Oct. 4 1901.
leases another.
Company also owns 442 of the 500 shares of stock and all of the bonds Of
OFFICERS.-Pres., C. H. Harvey; V.-P., W. S. Shields; Sec., Leon
the Middlesex & Monmouth Electric Light, Heat & Power Co., which fur- Fender; Treas. and Aud., H. T. Bunn.-V.81, p. 1044, 1665: V. 82, p. 49.
nishes light to Keyport, Matawan and South Amboy.
628, 1438; V. 83. p. 38; V. 85, p. 345, 405, 793.
58
ELECTRIC RAILWAYS
KOKOMO, IND.
KOKOMO MARION & WESTERN TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated in Indiana in Feb. 1903 under general
railroad laws as successor to the Kokomo Converse & Marion Traction Co.
In April 1903 acquired by purchase the entire capital stock of the Kokomo
Railway & Light Co.. which was merged in Jan. 1906. Owns lighting plant
in Kokomo; also private right of way. Franchises run 50 years
te
STOCK AND BONDSutstanding. Maturity.
Common, 51,000.000 ($100)-- --------------$1,000,000
6 A-0
Preferred,6% 5100,000 ($100) _ _ _.
85,000
See text
5 g .IJ
First mortgage $1 000,0001 1003
750,000 July 1 1933
gold ($500 de 51,000) c&r_ _ Interest at Security Trust Co., Ind., Trustee.
5 g J-J
Kokomo Ry & Light 1st mtge 1903
250,000 Jan. 1 1933
$350,000 gold ($1,000) c&r Int. at Security Trust Co , Ind., Trustee.
Bonds.-$250.000 are reserved to retire a like amount of bonds of the
Kokomo Railway 63 Light Co: the remaining $100,000 under this latter
mortgage has been canceled. Bonds are subject to call at 105 and interest
after July 1 1908. See V. 76, p. i143; V. 77, p. 451. The Kokomo Rail
way de Light bonds can he called in 1908 at 105 and are guaranteed, principal
and interest, by Kokomo Marion & West.
Dividends.-On pref. stock, 6% per annum Is being paid.
REPORT.-For calendar year 1907: Total gross (including both Railway
and Lighting). $188,177; net, $92,767. In 1906, gross, $168,872; net,
$80,974.
ROAD.-Operates 40 miles of track in Kokomo and from Kokomo to
Marion. Is connecting link between the Northern Traction Co. and the
Union Traction Co. of Indiana. Standard gauge. 70-1b. T rail.
OFFICERS.-Pres. Geo. J. Marott; V.-P., L. J. Kirkpatrick: Sec..
Treas. and Gen. Mgr., T. C. McReynolds; Aud., C. C. Trees.-V.81, 13• 155:
V. 83, p. 1098.
LACONIA, N. H.
LACONIA STREET RAILWAY.
In Nov. 1906 control changed hands, and the new interests also acquired
control of the Laconia Electric Lighting Co.
ORGANIZATION.-Formerly the Laconia & Lakeport Street Ry., but
name changed tc above in 1894
STOCK, &c.Date.
Interest. Outstanding. Maturity.
Common,5100,000 (par $50)
$100,000
Preferred,8% cum.,$40,000
40,000
First mtge,$91,000 (51,000)_I 1899
5 M-N
90,000 May 1 1919
1Interest at American Trust Co. Boston.
Second mortgage, 540,0001 1904
40,000 May 1 1919
5 M-N
($1,000)
lInterest at People's National Bank, Laconia.
Dividends.-In 1893-94, paid 5%; In 1894-95, paid 4%; none since.
ROAD.-Owns 9 miles of track, having in 1899 been extended to Weirs,
4 miles, and the entire system equipped with electricity. In 1903 road was
changed to standard gauge.
EARNINGS.-For years ending June 30:
1906.
1907.
1907.
1906. I
Gross
$32,851 $30,493 linterest and taxes_$11,844 $10,011
Net
145
778
10,156 Balance for year_ _ _
12,621
OFFICERS.-Pres., H. L. Pierce, Leominster, Mass.; Treas., Edmund
P. Hadley. Leominster, Mass.; Sec., Geo. P. Munsey; Gen. Mgr.. L. S.
Pierce.
[VOL. Lxxxvn.
Ephrata & Adamstown, 8 miles, and the Lancaster & Rocky Springs, 4M
miles. The latter four completed and leased for 999 years at a rental of
6% on stock. An extension from Christiana to Coatesville is under construction.
OFFICERS.-Pres., W. W. Griest; V.-P.. George Bullock; Sec. and
Treas., A. S. Cooke.-- V. 79, p. 501, 1330, 2796; V. 84, p. 271, 390, 570.
693.
(a) Lancaster Mechanicsburg & New Holland Ry.-A trolley road.
ORGANIZATION.-Incorporated May 16 1899. Runs from Lancaster
to New Holland, with an extension to Ephrata, 20.62 miles. Is leased
to Conestoga Traction Co. for a rental of 8 % on stock. Capital stock,
5300,000. Stock is not owned by lessee. No bonds.
(b) Rohrerstown Landisville & Mt..loy Ry.-Trolley.
ORGANIZATION.-Owns an electric road of 10 miles from Lancaster
through Landisville, Salunga, Mt. Joy and Florin. Is leased for 999 years
to the Conestoga Traction at rental of 6% on its $400,000 stock. No funded
debt. V. 73, p. 236.
(c) Ephrata & Adamstown Ry.-A trolley road.
ORGANIZATION.-This company was incorporated with $225,000
capital stock on Sept. 17 1901. Owns road from ephrata to Adamstown,
8 miles, which was leased in 1903 to the Conestoga Traction Co. for a rental
of 6% on the stock. No funded debt.
(d) Lancaster & Rocky Springs Ry.ORGANIZATION-Operates 4 M miles of track. Stock, $200,000. No
bonds. Leased to Conestoga Traction Co. for 999 years at 6 re on stock.
(e) New Holland Blue Ball & Terre Hill Street Ry.
ORGANIZATION.-Operates a line from Blue Ball to Terre Hill. Is
leased to the Conestoga Traction Co.for 999 years at 5% on its $120,000
capital stock.
(f) Lancaster & Eastern Ry.
ORGANIZATION.-Operatcs 17 miles of track from Lancaster to Christiana. Capital, 5430,000. Was leased on June 1 1906 to Conestoga Traction Co. at 6% on stock.
(g) Lancaster & Quarryville Street Ry.
ORGANIZATION.-Consists of 8.75 miles of track. Is leased to Conestoga Traction at rental of 6% on Its $225,000 stock.
nrsiin
stsStorfe;tmRire
Folo
zeAtT
ORGANEIizap
h tIoowNn C
(h)
.s
of track. Oct. 1 1908 was leased
to Conestoga Traction at rental of 6% on 5220,000 stock.
LANCASTER & YORK FURNACE STREET RY.-A trolley road.
ORGANIZATION.-Incorporated July 22 1901 in Pennsylvania. In
Feb. 1908 reduced stock from 5280,000 to 5170,000 and made 5150,000
mtge., which see below. V. 86. p. 480.
Date.
STOCK AND BONDSInterest. Outstanding. Maturttlf,
Stock 5170,400 ($50)
$170,400
1st mtg gold 5150.000 ($100,1 1908
5 g J-J
10,000 Jan 1 1928
c&r!Int. at Northern Trust Co., Lane., trustee.
$500, 51,000)
Bonds.-Are not subject to call and have no sinking fund.
-Operates
miles
12%
ROAD.
of track between Millersville and York
Furnace. An extension is proposed to Lancaster. 70-1b. T rail. Gauge
5 ft. 2M in.
OFFICERS.-Pres., M. H. Bochow; V.-P., Dr. S. T. Davis: Sec., J. H.
Byrne; Treas., A. M. Landis; Gen. Mgr., P. H. Hantsch.-V. 88, p. 480.
LANSDALE, PA,
MONTGOMERY TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated in Pennsylvania on July 6 1905 as
under foreclosure of the Lansdale & Norristown Electric By.
successor
LA CROSSE CITY RAILWAYSTOCK AND BONDSDate,
Interest. Outstanding. Maturity.
ORGANIZATION.-Chartered Nov. 17 1885. Franchise runs till 1938. Stock, 5250,000 ($50)
$250,000
Interest. Outstanding.Last Div.Ac First mortgage,
Date.
STOCK AND BONDS$250,0001
1905
5 g J-J
250,000 July 15 1935
See below. $500,000f.p. In '07,7 M %
Stock, 5500,000 (par $100)
($1,000) gold
cl Int. at F,. P. Wilber Tr. Co., So. Beth.,Pa.,Tr.
First mortgage, $175,000 goldI 1893
6 g J-J
136,000
Jan. 11018
subject
Bonds
are
to
call
before
1008
at
102
M;
thereafter
at 105.
($1 000)
Subject to call Jan. 1 1903.
EARNINGS.-For year ending Dec. 311907,$39,526. In 1006,337,660.
Interest at Northern Trust Co.. Chicago., Ill., Trustee.
ROAD.-Operates 14 miles of track from Lansdale to Norristown.
Dividends.-For 1892,7%; 1893, none; 1894,7%; 1898,7%;1899, 7%; Gauge, 5 ft. 25 in. 70
and 80-1b. T rail.
1900, 5%; 1901, 6%: 1002, 7%; 1903, 7%; 1904, 7%; 1905, 8%; 1906,
OFFICERS.-Pres., W. 0. Hay, Easton; Sec. and Treas., G. A. Reed
8%; 1907, 7%.
EARNINGS.-For calendar year 1907, gross, 3126,130; net, after taxes Bethlehem; Supt., Thomas Gibson, West Point, Pa.-V.81, p. 508.
and interest, $20,122. In 1906, gross, 5115,450; net, after taxes and Interest, $27,085.
LANSING, MICH.
ROAD.-Owns 14.746 miles in city of Lacrosse.
MICHIGAN UNITED RYS.-A third-rail and trolley system.
OFFICERS.-Pres., B. E. Edwards; V.-P., W. W. Cargill; Sec., H. E.
ORGANIZATION.-incorporated in Michigan on March 31 1906 and
West; Treas., R. C. Wheipley; Supt., Geo. H. Shaw.-V.84, p. 1182.
on May 1 1906 took over the Michigan Traction Co., the Michigan Traction
Extension Co., the Jackson & Battle Creek Traction Co., and the Lansing de
Suburban Traction Co., and owns all the capital stock of the Lansing &
Jackson Railway Co. In Oct. 1907 the Lansing Southern By. was incorLANCASTER, PA.
SUSQUEHANNA RAILWAY. LIGHT &POWER CO.-Incorporated in porated as a subsidiary company to build two miles of electric railway
Connecticut Feb. 27 1907 to own, control and operate electric railway and through Mason, Mich. Stock, $50,000.
In 1908 consolidated with Jackson Consolidated Traction Co. V. 84. Pgas properties. V. 84, p. 271. Has acquired all the common stock of the
United Gas & Electric Co., owning and controlling 11 gas and electric com- 1183, and V. 87, p. 285. Latter company's franchises in Jackson expire
panies in various cities in the United States. Owns entire common stock of in 1930.
STOCK AND BONDSInterest, Outstanding. Maturity.
Date.
the Lancaster County Ry. & Light Co. V. 84, p. 693.
Common, 56,000,000 ($100)
56,000,000
STOCKDate. Interest. Outstanding.
Last Div. Prgf $1,000,000 (5100) 6% cu_
1,000,000
Stock, corn, 510,000,000 ($100)
$4,034,500
mtge
ref'g
&
1st
$12,500.000]
1906
SI-N
5
g
2,710,000 May 1 1936
Stock, pref 5% cum to 770,1
gold ($1,000, $500, $250),}Int. at KnickerbockerTr.Co., N. Y., trustee,
4,092,200 Sept 1'08,2
5 M-S
510,000,000 ($100)
I
$100 and 50
c&rl or Nat. Provincial Bk. of Eng.. London.
Stock.-After 5% has been paid on the common,the preferred will share
1901
5 g J-J
June
u
equally with the common In non-cumulative dividends up to 7%,all other Mich Tract 1st mtge
5700,000 ($1,000) gold_cslInterest at New York Trust
7 .0
t Co.. Trustee.
dividends accruing to the common shares. V. 84, p. 571, 693.
Trac
Michigan
ext
first
mtgef
1903
5
g
500,000
J-D
Dec.
1 1923
preferred
of 23'% paid Sept. 1007. In
Dividends.-First dividend on
$500,000 ($1,000) gold.. _cl Int. at Knickerbocker Tr. Co., N. y., Trust.
1908, Mch., 234%; Sept., 23Y0.
5 g J-J
1,200,000 Jan. 1 1923
OFFICERS.-Pres., Geo. Bullock; V.-P., R. E. Griscom; Sec. and Jackson de Battle Creek first} 1903
mortgage, $1,200,000 ($1.-Interest at Citizens' Savings & Trust Co.,
Treas., A. S. Cooke; Asst. Sec. and Treas., W. M. Canby.-V.85, p. 655.
000) gold
c•
Cleve., Trustee, or First Nat. Bk., N. Y.
(1) Lancaster County Railway & LightJackson Consol Trac 1st mtge] 1904
5 g M-N
700,000 May 1 1034
In Feb. 1907 the Susquehanna Railway, Light & Power Co. was organ$1,000,000 gold ($100, $500 }Interest at Guardian Trust Co., New Yrok.
ized to consolidate this and other street railway and electric properties.
and 51.000)
cj Trustee.
See V. 84, p. 392.
Lansing do Jackson first mtgej 1905
5 g M-N
350,000 May 1 1930
ORGANIZATION.-Incorporated on June 15 1901 in New Jersey. Owns
51,000,000(51,000) gold..cslInt. at Knickerbocker Tr. Co., N. Y., Trust.
practically all the capital stocks of the Conestoga Traction (corn. and pref.).
Bonds.-Of the 512,500,000 1st & ref. bonds, $3,190,000 are reserved
the Lancaster Gas Light & Fuel Co.. the Edison Electric Illuminating Co. for prior liens now outstanding and $650,000 for Lansing & Jackson bonds
and the Columbia Electric Light, Heat & Power Co. of Columbia. Pa., still to be issued; $1,500,000 for construction or purchase of additional lines:
and these stocks are placed under the new mtge. of 1901. Franchises are $4,450,000 reserved for additions, betterments and Improvements and to
perpetual. Does all the gas and electric lighting in the cities of Lancaster retire all prior liens. Are subject to call after May 1 1016 at 110. V. 82.
and Columbia, and practically all in Lancaster County.
p. 1157. The Jackson Consol. Tract. Co. bonds are subject to call on any
AI4D BONDSInterest. Outstanding. Maturity. int. date at 105.
Date.
AD
Stock corn $1,350,000 ($50)
51,100,000 July'08, 5%
On the Michigan Traction Co. bonds a sinking fund of 5% of gross earnStock pi, $1,000,000 ($50)5%j
ings commenced in 1903, to be used in buying bonds at not to exceed 110;
1,000,000 J ly '08,2M otherwise to be invested in other standard securities
cumulative
r
J-T
V. 72, p. 391;
1,000,000 July 1 1951 $44,000 of bonds now held in sinking fund.
Mortgage, $1,000,000 gold! 1901
3 g J-J
The Lansing & Jackson Ry. bonds are guaranteed principal and interest
($500 and $1,000)
el Interest at Lancaster Trust Co., Trustee.
Securities of Lines Controlledby the Michigan United Rys.; a sinking fund begins Jan. 1 1010, to which
Conestoga Traction first mtge_ 1900
1,277.500 Jan. 1 1950 1 % of bonds authorized is payable annually the first five years, 2% per
4 J-J
Lancaster City RR first mtgej 1890
160,000 April 1 1920 annum the next 5 years and 2M % annually thereafter. Bonds are not
5 g A-0
($100 and $500)
subject to call. The Jackson & Battle Creek bonds are subject to call in
'Metropolitan Trust Co., N. Y., Trustee.
W E St Ry first mtge 5225.-I 1891
225,000 May 1 1921 any amount after 10 years at 105 and interest. V. 75, p. 1147.
5 M-N
000 (5100, 5500 dc $1,000)0 Metropolitan Tnist Co., N. Y.,Trustee.
EARNINGS.-Including Jackson Consolidated Traction Co.:
Lancaster & Columbia stock_
37,500 20% per an.
Years ending April 30- 1907-08.
1904-05.
1906-07.
1905-06.
First mortgage
225,000 April 1 1923 Lessoper.
e
5 A-0
1893
Gross
5943,324
$637,815
5877,015
5782,346
Columbia Elec Lt Ht dc P mtge 1905
125,000 May 1 1935
xpenses_ __
earnings_
5 M-N
521,728
380,809
476,851
441,471
Edison Elec Ilium Co mtge_ _ _ . _
49,700 July 11922
5 J-J
do
do
mtge_..,.. .___
250,300 Jan, 1 1025
Net earnings
5 J-J
$257,006
$421,596
$400,164
$340,875
Lane Gas Light de Fuel mtge.
5 J-J
300,000 Jan. 1 1925
ROAD.-Operates all city lines In Kalamazoo. Battle Creek, Jacskon and
do
do
mtge._ 1906
5 J-J
100,000 Jan. 1 1936 Lansing and interurban lines from Lansing to St. Johns, Jackson to Battle
Dividends.-The first dividend on the preferred stock (3 %) was paid on Creek, Battle Creek to Kalamazoo and Jackson to Wolf Lake;total operated.
July 1 1904 and 3% was again paid on Oct. 1 1904. In 1905, Jan. 3% 180 miles. The owned Lansing & Jackson By. Is building an extension
(see V. 79, p. 2706): July, 3%; Dec., 4M %. In 1906, March,4%; Aug., 3.7M miles from Lansing to Jackson, of which 12 miles frdm Lansing to
23%. In 1907, Jan., 2%; July, 5%. In 1008, Jan., 2%;July, 23%. Mason is expected to be in operation Nov. 1 1908.
On common, in 1908, Jan., 5%; July, 5%.
OFFICERS.-Pres., Myron W. Mills, Marysville; 1st V.-P., Jas. R.
REPORT.-Receipts of the Lancaster County Railway (fe Light for fiscal Elliot, Lansing; 2d V.-P. and G n. Mgr., J. P. Clark, Jackson; Sec., R.
year ending June 30 1908 were: Gross Income, $203,227; net, after general Morrison; Treas., Pomeroy Ladue.-V.82, p. 805,987, 1157; V. 84,p. 1183
expenses, $202,135; int. and taxes, $52,085; surplus, $150,050.
V. 85, p. 722; V. 87, p. 97, 167, 282, 285.
ROAD.-The Conestoga Traction Co. (the operating company) leases
143.75 miles of track, including the Lancaster City Street By., 13,55 miles;
Lancaster & Columbia, 9.16 miles; Lancaster & Lititz, 10.10 miles; ColumLEWISTON ME.
bia & Ironville, 3.59 miles; Columbia & Donegal, 5.67 miles; Lancaster &
LEWISTON AUGUSTA & WATERVILLE STREET RY.-A trolley road.
Mechanicsburg & New Holland, 20.62 miles; the New Holland Blue Ball &
ORGANIZATION.-Organized in Maine in 1907 as a consolidation of
Terre Hill Street Ry., 5 miles; the Rohrerstown Landisville & Mt. Jay By., the Lewiston Brunswick & Bath Street By. (which owned the Brunswick
10 miles; the Lancaster & Eastern By., 17 miles; the Lancaster & Quarry- & Topsham By., Lewiston & Auburn RR. and Bath Street Ry.) and the
ville Street Ry., 8.75 miles; the Elizabethtown de Florin Street Ry., 7 miles; Augusta Winthrop 63 Gardiner By. (a consolidation in May 1902 of the
Lancaster do Millersville By., 3.57 miles; Lancaster Willow Street Lampeter Augusta Hallowell & Gardiner RR. and the Lewiston Winthrop & Augusta
& Strasburg By., 11M miles; the Lancaster ec Manheim By., 8 miles; the Street Ry.). V. 84, p. 1182. Franchises are perpetual.
LA CROSSE, WIS.
1
M%
SEPT.)1908.]
ELECTRIC RAILWAYS
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock, $3,000,000 ($100)*3,000,000
First and refunding mort-1 1007
1,500,000 April 1 1937
5 g A-0
gage, $5,000,000 ($1,000),} Old Colony Trust Co., Boston, Trustee.
gold
c* Interest at agency of company, Boston.
Securities of the Lew. Bruns. ct Bath St. Rtl.845,000 Mch. 1 1918
First mtge. $1,000,000 gold_ _ _ 1898
5 g M-S
70,000 July 1 1913
Bath St By 1st mtge$300,0001 1893
5 g J-J
gold ($1,000)
c*j Subject to call after July 11898.
Lewiston & Aub H RR 1st M_ 1891
85,000 Jan 1 1911
5 J-D
Securities of the Aug. Win. ct. Gar. RV-Augusta Hallowell& Gardinerl 1890
10,500 July 1 1910
6 J-J
first mortgage for $100,000fInt. at International Tr. Co. Boston, Trust.
Aug H do G gen mtge cony_ _c 1901
1951
*239,500
' July
4 J-J
Aug Win & Gard 1st Al $250,-1 1002
'150,000 July 1 1952
4 g J-J
000 conv($1,000 & $500) gc" Int. at Augusta Tr.Co.,Augusta,Me.,Trust.
Aug Win ec Gard gen M $125,-1 1905
5 g J-J
100,000 Jan 1 1935
000 ($500 and $1,000) gold Interest at Augusta Trust Co., Trustee.
Bonds.-The $5,000,000 1st mtge. bonds are subject to call on any int.
day at 107M and int. No sinking fund. $1,500,000 are reserved for prior
liens, $500,000 are in treasury for present improvements and betterments
and $1,500,000 are reserved for future extensions and improvements.
The Augusta Winthrop & Gardiner By. gen. mtge. bonds of 1905 are subject
to call at par on any int. date on 65 days' notice. The Aug. Win. de Gar.
By. 1st mtge. bonds are exchangeable for 4% pref. stock of the same company, which stock has the same security as the bonds and matures at the
same time; $77,000 of bonds reported above as outstanding had been exchanged up to A, g. 1 1008. The Aug. H. & Gar. gen. mtge. bonds are exchangeable for 4% pref. stock of the same company, having the same security as the bonds and matures at the same time; $178,000 of the $239,500
reported above as outstanding had been exchanged up to:r.ug. 1 1908.
Of the Lewiston Brunswick & Bath Street Ry. 1st mtge. bonds of 1898,
$155.000 are reserved to retire the underlying bonds.
EARNINGS.-For year ending June 30 1908, gross, $387,185; net,
$148,317; charges (inclusive of interest on proportion of $1,500,000 outstanding Lewiston Aug. & Waterville St. By. 1st mtge. bonds belonging
to new mileage, $87,687; surplus, $60,630.
ROAD.-Operates a system in and between Augusta, Hallowell, Gardiner,
Farmington, Togus and Winthrop, and another system connecting Bath
with Brunswick, Lewiston, Auburn, Sabattus, &c. In 1907 completed a
9-mile extension between Auburn and Mechanic Falls. Total, 93 miles;
41 additional miles of track, which will connect the two systems and extend
line to Waterville and several other towns, are being constructed and are
expected to be completed during 1008.
OFFICERS.-Pres.,John R. Graham, Bangor; V.-P., H. L. Clark, Phila.
Treas., D. S. Hahn, Lewiston; Gen. Mgr. and Pur. Agt., Harry B.Ivers,
Lewiston.-V. 84, p. 1182; V. 85, p. 469.
59
LIMA OHIO.
NVESTERN OHIO R Y.-A trolley system of standard gauge, entirely on
private right of way.
ORGANIZATION.-Incorporated in Ohio on Oct. 11 1900. This is one
of the Mandelbaum roads and forms a link in the through car service from
Toledo to Dayton. Owns entire common stock of the Lima Findlay &
Toledo By. In Aug. 1906 Issued $400,000 new preferred stock in exchange
for the $400,000 preferred stock of that company. V. 83, p. 97, 157, 381.
Has contract to furnish power until 1913 to Lima de Toledo Traction, Fort
Wayne Van Wert & Lima Traction and Indiana Columbus & Eastern Trac.
STOCK AND BONDS.Date.
Interest. Outstanding. Maturity.
Common $3,000,000 ($100) _
$3,000,000
Pref 6% cum, $400,000_
400,000 No div. yet.
1st mortgage $3,000,000 ______ 1901
5 g M-N
2,503,000 Nov 1 1921
($1,000) $26,500 per M„'"c Int. at Cit. Savings & Trust Co.. Cleveland.
Trustee or First National Bank, N. Y.
L F & T 1st mtge $600,000( 1905
5 g J-J
400,000 July 1 1925
ci Int. at Citizens Savings & Trust Co., Clevegold ($1,000)_
I land. Trustee, or in New York.
Bonds.-The West Ohio bonds have no sinking fund and bonds are not
subject to call. See V.76, p. 160, for agreement among bondholders. The
Lima Findlay & Tol. 'ponds -have a sinking fund of $10,000 per ann., beginning in 1891. Are subject to call at 105. V.80,p. 2344.
EARNINGS.-For year ending Dec. 31 1007, gross, $444,846; net.
$203,807; charges, $160,928; surplus, $42,879; In 1906, gross, $388,227;
net, $177,258; charges, $161.976; surplus, $15,282.
ROAD.-Lima via Wapakoneta to Piqua; Wapakoneta via St. Mary s to
Celina; St. Mary's to Minster; making altogether 78
miles of main line;
also sidings, 10 miles. Also Lima to Findlay, 31.9 miles, thus completing
a through line to Toledo. Total of all mileage about 120 miles. Standard
gauge. Operates 19 passenger and 6 other cars.
OFFICERS.- Pres., A. E. Akins; 1st V.-P., L. J. Wolf; 2d V.-P. and Gen.
Mgr., F. D. Carpenter; Sec. & Asst. Treas., H. C. Lang:
M. J. Mandelbaum.-V. 82, p. 162; V. 83, p. 97, 157, 381; V. 85, p.
Treas..
1520.
LINCOLN, NEB.
LINCOLN TRACTION.-A trolley road.
ORGANIZATION.-Successor in January 1898 to Lincoln Street By.,
foreclosed Dec. 17 1897 and reorganized per plan in V. 65, p. 277.
REDUCTION OF FARES.-On Sept. 29 1907 announced that, agreeably
with order of State RR. Commission,it wiuld sell six tickets for 25 cents
to adults and 10 for 25 cents to school children. V.85, p. 864.
STOCK AND BONDS.Date.
Interest. Outstanding. Maturity.
Common stock ($100).
$330,000 Apr 15'084 %
A-0
Preferred (cumulative)
700,000J ly15'082%
5 J-J
1st mtge gold ($1,000) $2-5-0,-1 1899
18J,000 Jan 1 1920
5 g J-J
000 authorized
j Interest at New York Trust Co., Trustee.
pref.
Dividends.
-On
commenced
1901,
2
%%;
July
in 1002, 5% and
15
LEWISTOWN, PA.
5% in stock; in 1903, 5% and 10% accumulated dividends; in 1904, 5%; in
I.FwisTowN & REEDSVILLE ELECTRIC R Y.1905, 5%;in 1906, 5%;in 1907, 5%;in 1908, 5%. On com, stock, in 1903,
ORGANIZATION.-Incoinorated in Pennsylvania on March 24 1892 5%;in 1904, 5%;in 1905, 5%;in1906, 6%;In 1907,8%;in 1908, April, 4%.
EARNINGS.-Calendar year:
1907.
1906.
1905.
Interest. Outstanding. Maturity. Gross earnings
Date.
STOCK AND BONDS.$408,216 $376,461 $316,922
$150,000 1907, 5%
_ _-_
Stock $150,000 ($50) - -- .. --- --- Interest, oper. expenses and reconstruction_ 375,324
314,245
238,000
1
150,000 June 11919
5 g J-J
1st mortgage gold ($500 and1899
$1.000) $150,000__ _ _e dict' Int. at Union Trust Co., Phila., Trustee.
$32,892
$62,216
Surplus
$78,922
5 g M-N
125,000 May 1 1917
2d mortgage gold ($500 and 1902
ROAD.-Owns about 42 miles of track.
$1,000) $125,000____ .c&r Int. at Com'wealth Tr. Co., Harrisb'g, Trus.
OFFICERS.
Scudder;
McDonBoard,
-Chairman
Pres.,
M.
L.
J.
W.
of
Bonds.-The firsts are not subject to call, but the seconds can be called ald, Lincoln; V.-P., Wm. Belcher, New London, Conn.; Sec. and Treas.,
at par after 3 years.
P. H. Carter, 52 Wall St., New York; Asst. Sec., E. B. Ransom, Lincoln;
Dividends.-1002 to 1007, inclusive, 5% per annum.
Gen. Mgr., J. H. Humpe, Lincoln.-V. 84, p. 804; V. 85, p. 864.
EARNINGS.-For fiscal year ending June 30 1008, gross, $82,802; oper.
expenses, $50,940: net, including income on securities owned, $33,112;
OMAHA LINCOLN & BEATRICE RY.
fixed charges and taxes. $15,467; dividends, $7,500: surplus, $10,145.
Is constructing 56 miles between Lincoln and Omaha, of which 5.6 miles
ROAD.-Operates 9 ki miles of track from Lewistown to Reedsville and from Lincoln to Bethany Heights is completed. Standard gauge. 70-lb. T
Lewistown Junction, with a branch to Burnham. 60 and 70-1b. T and rail. Franchises, 99 years and perpetual. Stock authorized, $2,250,000
($100); outstanding, $300,000. No bonds.
70-1b. girder rail.
OFFICERS.-Pres. Harvey Musser; V.-P., H. H. Wilson; Sec., Treas
OFFICERS.-Pres. and Mgr., J. I. Quigley, Lewistown; V.-P., A. B.
Hurd.
Spanogle; Sec., E. R. Sponsior, Harrisburg; Treas., G. H. Macklin. and Gen. Mgr., E. C.'
McVeytown; Supt., C. E. Gossard, Lewistown.
LITTLE ROOK, ARK.
LEXINGTON, KY.
LEXINGTON & 1Ni ERURBAN RAILWAYS CO.ORGANIZATION.-Incorporated in New Jersey on Dec. 5 1005 and
acquired $799,925 of the $800,000 stock of the Lexington By. Co., the entire
stock ($225,000) and bonds ($88,000) of the Frankfort & Versailles Traction
Co., the entire stock of the Blue Grass Traction Co., the entire $125,000
common stock of the Central Kentucky Traction Co. and the entire preferred stock and bonds of the latter company. Does the entire electric
light, gas, street railway and ice business of Lexington. Street railway
franchises in Lexington. Georgetown and Paris and for interurban lines are
perpetual; in Frankfort expires in June 1023. Electric light and power
franchise in Lexington expires in August 1016.
MERGER OF SUBSIDIARY COMPANIES.-In 1907 the Frankfort &
Versailles Tract. and Central Kentucky Tract. Co. were merged under
the name of The Central Kentucky Traction Co.,with capital stock of $425,000. all owned by this company. V. 85. p. 344.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS.$2,000,000
Common $2,000,000 ($50)_
332,000
Pref $1,000,000 ($30) see text
1,t03,000 Feb 1 1056
Coll Trust Mtge $6,000,0001 1906
5 / F-A
_c Int. at Guar. Tr. de 8. D. Co., Phila., Trus.
gold ($1,000)
6 g A-0
93,000
Passenger & Belt 1st Mtge 1891
See text
_ Int. at Amer. Tr.&Sav. Bk. Chicago, Trus,
$200,000 ($1,000)..
Lox. Ry. Mt .., $1,500,000 1899
5 g J-D
1,417,300 June 1 1949
gold ($1,000)
c' Continental Tr. Co., Baltimore, Trustee,
Blue Grass 1st Mtge $700,000 1904
5 g M-S
414,000 Mch 1 1034
gold ($500 and $1,000) _c&r Int. at Cleveland Tr. Co., Cloy., Trustee.
Georget'n & Lex'ton 1st mtge 1901
5 g M-N15
200,000Nov 15 1021
$250,000 gold ($100, $500 Int. at Cincin. Tr. Co., Trus., and at Standand $1,000).
ard Trust Co., New York
.c&r
Cent Ken Tract 1st mtgel 1907
*623,000 Aug 1 1937
5 F-A
$4,000,000
c*JGuar.Trust & Safe Dep. Co., Phila., trustee.
'Of this amount $88,000 has been deposited as collateral for Lox. Se Interurban Rys. coll, trust mtge. of 1906.
Stock.-The preferred stock is 8%, cumulative from Jan. 1 1008, and is
redeemable after 1910 at $60 per share, and is convertible into common stock.
See V. 84, p. 220. Both classes of stock are listed on the Phila. Stock Exch.
V. 84. p.628.
Bonds.-Of the $6,000,000 coll, trust bonds, sufficent are reserved to
retire the 1st mtge. bonds of the Blue Grass Traction Co. and the Georgetown & Lexington, and remainder reserved for betterments and acquisitions.
of bonds out is operative from 1916 to 1926;thereafter
A sinking fund of
1%;said fund to be Invested In the bonds at not higher than 110 and interest. In 1908 the Blue Grass Traction made a 2d mtge. for $200,000 5%
bonds , due in 1938, of which $83,000 have been issued, and the Lexington
By. a 2d mtge. of $600,000 5% bonds, due in 1938, of which $33,000 have
been issued. The whole outstanding amount of both (as also $88,000
Central Trac. 1st mtge. bonds) has been deposited as additional collateral
for Lexington & Interurban Rys. coll, trust mtge. of 1906; V. 87, p 414.
A sinking fund on the $1,500,000 Lexington By. bonds of 1899 will retire
1% of the bonds annually at 110 and interest. The Pass. & Belt By, bonds
mature $15,000 annually beginning April 1 1906.
LATEST EARNINGS.-For 6 months ending June 30 1908, gross,
$280,324; net, $92,491. In 1907, gross, $249,696; net, $80,167.
REPORT.-For year ending Dec. 311906, gross, $488,547; net, $183,008;
fixed charges, $176,778; surplus, $6,320.
ROAD.-Operates Lexington city lines, 16 miles; Frankfort City lines.
8 miles; Winchester city lines, 33i miles; line from Lexington to Georgetown, 12 miles; line from Lexington to Paris, 18 miles; and a line from Lexington to Versailles, 13 miles. An extension of 16 miles from Versailles
to Frankfort is compileted and in operation. Total track, about 8634 miles.
Another extension from Lexington to Nicholasville Is proposed. Rails, 56
to 80 lbs. Owns 25 closed and 33 open cars, 9 interurban passenger and
2 express cars, and has 42 double-motor and 11 quadruple motor equipments
OFFICERS.-Pres., J. Levering Jones, Philadelphia; V.-P., John Blair
MacAfee, Phila.; Sec., Henry Rainey, Phila.; Treas., H. C. Delany, Phila.;
Auditor, 0. R. Bilbrow; Gen. Mgr., J. B. Crawford.-V. 85, p. 346, 1462;
V. 87, p. 226, 414, 480.
LITTLE ROCK RAILWAY & ELECTRIC CO.ORGANIZATION.-Incorporated in Arkansas on March 17 1903 and is a
consolidation of the Little Rock Traction & Electric Co. (granted a new
franchise on Sept. 28 1901 for 50 years; V.73, p. 784) and the Little Rock
Edison Electric Light & Power Co. (franchise unlimited). Operates all
street railways in city and all commercial electric lighting; also large portion
of lighting in Argenta, Ark. Controlled by American Cities Railway &
Light Co. Isidore Newman & Son of New Orleans and New York are
fiscal agents.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS4 J-J
Common, $1,500,000
$1.500,000 J.ly'08, 2%
Frei, 6% cum, *750,000 _____
6 J-J
750,000 Jk. ly'08,3%
5 g A-0
2,000,000 April 1 1933
1st mortgage, $2,000,000,1 1903
c'i Interest at Corn. Germania Trust & Savings
gold ($1,000)
Bank, New Orleans, Trus., or fisc. agts.,N.Y.
Refunding and extension mtgl 1908
6 g A-0
215,000 April 1 1938
$5,000,000 ($500 and $1,-}Int. at Bank of Commerce & Trust Co., Mem000) gold
c*1 phis, Trus., or Company's office in N. Y.
Bonds.-First mortgage bonds are subject to call on 60 days' notice on
any interest period at 107
Sink, fund of 3i of 1% of outstanding bonds
1908 to 1917; 1% thereafter. The refunding and extension bonds cannot
be called; $2,000,000 are reserved to retire first 5s, $285,000 additional
may be Issued at once, and remainder for 80% of cost of additional property
if net earnings for 12 months previous have been twice the annual interest
charges on outstanding bonds.Including those to be issued. A sinking fund
of 31 of 1% on outstanding bonds commencing Aug. 1 1913 Is to be Invested
In these bonds at not higher than a 43% basis, bonds to be kept alive in
fund. The first $500,000 are to be Issued as 6s; rate on subsequent bonds
to be at discretion of board of directors at not exceeding 6%. See full particulars regarding bonds, property, &c., in V. 87, p. 414.
Dividends.-On pref., 8% per annum paid up to and including July 1908.
On common, 1906, 2%;in 1007, 4%;in 1908, Jan., 2%;July, 2% •
EARNINGS.-For calendar years:
Year- Gross.
Net.
Interest.
Dividends
Surplus.
1907 _$642,011 $311,841 $101,367 pref. $45,000: corn. $60,000 $105,474
97,724 pref. 45,000; corn. 60,000
1906 ___ 535,498 236,591
33,867
ROAD.-Operates 32 miles of track, including 9 miles of double track.
Rails, 70-1b. and over. 41 open, 39 closed and 7 semi-convertible cars;
total, 87.
OFFICERS.-Pres., W:E. Hemingway; Sec., Geo. B. Rose; Treas. and
Gen. Mgr., D. A. Hegarty; Aud., W. J. Tharp.-V.83,p. 38;V. 86, p. 918;
V. 87, p. 414.
LONG BR.ANOH, N. L.
MONMOUTH L.OUNTY ELECTRIC CO.ORG a_NIZATION.-Incorporated Apr. 1 1901 as a reorganization of
the Atlantic Highlands Red Bank & Long Branch Electric Ry. In April
1003 was granted a 45-year franchise to operate in Long Branch, in consideration of which the town is to receive t of 1 % of gross receipts.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDSStock,$500,000 ($50).
$325,00'J
4 g J -J
490,000 Apr. 1 1951
1st mort., $500,000 ($100) 1901
and $1,000) gold__ _c*JInt. at Ham. Trust Co., Brooklyn, Trustee.
49,377
Other debts Dec. 31 1907
ROAD.-Red Bank to Long Branch, 634 miles and 2d track, 2'4 miles;
11(d Bank to East Oceanic, 5 miles; in Long Branch, 3 miles; in Red
Bank, It miles; total, 18 ti miles.
EARNINGS.-For calendar year 1907, passenger earnings, $S1.926;
net receipts. $19,340; other Income, $1,574; fixed charges, $11,444; surplus, $9,470.
OFFICERS.-Pres., Veilliam P. Hogan, Jersey City.-V.72, p. 85. 391,
LONG ISLAND CITY, N. Y.
LONG ISLAND CONSOLIDATED ELECTRICAL COMPANIES.ORGANIZATION.-Entlre stock is owned by the Long Island RR. Inrl
y tyt?ifesiTocik otrhteiut
dcstmajority
New York c
corporated
an en re
Traction1
Huntington
aenadnhNe
n
stock
////ii 11
G!YEN DALE
Lomita
Darhaco
Park )\ve.
Tropic° Ave.
Fernando
R
San
Richardson
Cascajo
Ivanhoe
High Bridge
Monte Vista
Graham
Latin
Elcoat
WATTS
Ramsaw
Abila
Sprinadale
Hgrsom•
Willow Brook
Sativo
Walton
COM PTO N
0s Alamitos
,
11'910
'ill
ELECTRIC RAILWAYS
SEPT., 1908.1
Nassau County Ry., the Glen Cove RR. and the Jamaica & South Shore
RR. Also owns one-half the stock (the Interborough Rapid Transit Co.
owning the other half) and bonds of the N. Y. do Long Island Traction and
the Long Island Electric Ry.
Has secured all franchises, rights of way, &c., for a cross-island line from
Huntington to Babylon via Farmingdale and Amityville, of which 7 miles
of track has been constructed. Cost of line to be met by sale of company's
bonds when latter can be sold to advantage.
Interest. Outstanding. Maturity.
STOCK AND BONDSDate,
Stock. $25,000
All owned by Long Island RR.
1946
None.
Coll. tr. bonds. $170,001,0001 1006 45 g
gold, guar
JU. S. Mtge. do Trust Co., N. Y., Trustee,
Bonds.-Are guar., principal and interest, by Long Island RR.
OFFICERS.-Pres., Ralph Peters; V.-P..0 L. Addison; Sec. and Treas..
Frank E. Haff, New York.-V. 83, P. 890.
(1) Long Island Electric Ry.-A trolley road.
In Jan. 1906 control passed to the Interborough Rapid Transit Co.
and the Long Island Consolidated Electrical Companies, each owning onehalf the stock and bonds.
ORGANIZATION.-Chartered March 13 1897 as New York & North
Shore Ry. On Oct. 11 1800 was consolidated with the former Long Island
Electric By., new company having 12 100.000 capital stock and $2,100,000
bonds. On May 7 1902 the lines notth of Jamaica were sold under foreclosure to the Queens By. Co., which company was then merged into the
New York & Queens County By. By this foresclosure $1,500,000 each of
stock and bonds were canceled, leaving each at $600,000. On Oct. 1 1903
old name of "Long Island Electric Ry." was resumed.
Right to Carry Express Matter.-In October 1899 the Appellate Division
of the Supreme Court upheld the right of the Long Island Electric under the
General Railroad law to run ears carrying express matter. V. 89, p. 744.
Decision was affirmed by Court of Appeals in June 1900. V. 70, 1249
STOOK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock,$600,000 ($100)
$600,000
L. I. El. 1st M., $600,0001 1895
600,000 June 1 1925
5 g J-D
($1,000)
-c*I Int. at Hamilton Tr.Co., Brooklyn.,Trustee.
EARNINGS.-For year ending June 30 1908, gross, $205,010; net,
$60,938; charges, $42,000; surplus, $18,938.
ROAD.-Comprises 26.74 miles of road from Cresceat Avenue, Brooklyn
(at the terminus of the Kings County Elevated) to Jamaica. Hollis and
Queens, and from Jamaica to Far Rockaway. 37 passenger cars and 5
others.-V. 77, p. 89, 511, 512; V. 83, la• 818.
(2) New York & Long Island Traction.-A trolley read.
On June 20 1905 control was purchased jointly by the Interborough
Rapid Transit Co. and the Long Island Consol. Elec. Cos. and new officers
elected as below. V. 80, p. 2622. The Interborough also controls the
New York do Queens County Ry. In Oct. 1906 the RR. Commissioners
authorized $600,000 new stock to be Issued for the stock of the Long Island
Elec. Ry. (see V. 83,P. 818). but it is not deemed probable that exchange
will be made
ORGANIZATION.-This was formerly the Mineola Hempstead & Freeport Traction (incorporated on Feb. 27 1899), but name changed as above
on July 1 1902 and stock Increased from $125,000 to $1,000,000.
Interest. Outstanding. Last Div.
Date.
STOCK AND BONDS8750,0(10
Common,$750,000 ($50)
250 000 No.dly. yet
Pref..5% cum.,$250,000 ($50)
1002 414 g M-N
1,000,000 Nov. 1 1942
Int. at Citizens' Say. & Tr. Co., Cleve1st mtge., $1,000,000, gold
. land, trustee, or at 1st Nat. Bank, N. .
111,000) C. tt, r
Bonds.-Are subject -to call at 107 at 30 days' notice, but no sink. fund.
EARNINGS.-For year ending June 30 1908, gross, $280,756; net,
$76,874; fixed charges, $71,995; surplus, $4,879.
ROAD.-Operates an electric line connecting Mineola, Hempstead and
Freeport, 7.84 miles. Also operates line from Hempstead west 5.58
miles to Queens, where connection is made with the tracks of the Long
Island Electric Ry. Co. Also a line 16.42 miles long from Freeport westerly
via Rockville Centre, Lynbrook and Valley Stream, to a connection with the
Kings County Elevated By. at Brooklyn. Also a line from Queens to
Mineola via Jericho Turnpike, 6.75 miles. Total, 36.59 miles. Total,
Incl. second track, 40.03 miles. A line to Long Beach and also one to
Babylon may be built. 29passenger and 7 other cars.
11111(OFFICERS.-Pres.,F. L. Fuller, Long Island City; V.-P., C. L. Addison;
Sec. and Treas., Frank E. Haff, 128 Broadway, N. Y.; Gen. Mgr. W. 0.
Wood.-V.80, p. 1470, 2345, 2458, 2622; V. 83, p. 818; V. 84, p. 868.
'
NEW YORK & QUEENS COUNTY RY.
Entire capital stock is owned by the Interborough Rapid Transit Co.,
which also owns one-half of the stock of the Long Island Electric Ry. and
the New York & Long Island Traction,
ORGANIZATION.-Incorporated June 29 1896 and reorganized on June
30 1899. Purchased the various lines of railroad in Long Island City known
as the Newtown By. Co. the Riker Ave. & Sanfords Point RR., the Steinway Railway, the Long'
Island City & Newtown By. and the Flushing &
College Point Ry. In May 1902 the Queens Ry. was consolidated with it,
and thereupon Increased its stock from $2,500,000 to $5,000,000. The
Queens By. succeeded to the property sold at foreclosure of the New York
do North Shore By.,comprising a line of 6 miles from Flushing to Jamaica,
with franchises for lines between Flusoing and College Point,Flushing and
Bayside and Manhasset. V. 74, p. 1197. In Sept. 1906 the Railroad
Commissioners granted permission to make a new mortgage for $10,000,000
to provide for refunding, &c. V. 82, p. 1439; V. 83, p. 752.
Proposed Lease of Tunnel.-This company has proposed to lease from
city tunnel under Harlem River if city accepts offer of N. Y. & Long Island
RR. to sell same. The N. Y. & Queens Co. Ry. proposes to charge a single
5-cent fare from Manhattan side to all points on system. See V. 86, p. 548.
Interest. Outstanding. Maturity.
STOCK AND BONDSDate.
$3,235,000
Stock $5,000,000 ($100)
50,000
Flushing & College Point first). 1895
1925
5 g J-D
mortgage, $125,000,
JNew York Trust Co., Trustee.
150,000 Dec 1 1924
Newtown Ry first mortgage,). 1894
5 g J-D
$150,000 gold
JNew York Trust Co., Trustee.
Steinway Ry first mortgage). 1892
1,500,000 July 1 1922
6 g J-J
$1,500,000 ($1,000) gold.c* lint. at MortonTrust Co., N.Y. City, Trustee.
1,300,000 Oct 1 1946
New York & Queens County) 1896
4 g A-0
first consol mortgage, gold,}Mercantile Trust Co., New York, Trustee.
1 Interest at office of company, New York
$1,000 each
First & refunding mtge, $10,-1 1906
4 g M-N
Nov 1 1936
000,000, gold ($1,000) _ _cs'Windsor Trust Co., New York, Trustee.
465,000
Loans payable July 1 1907_
Of the new $10,000,000 mortgage, $3,065,000 are reserved for prior liens
and $6,135,000 for additions and Improvements. No sinking fund and
bonds are not subject to call. Under the New York & Queens County first
consolidated mortgage there were originally $2,500,000 bonds outstanding,
but the company, having defaulted in the payment of Interest, reorganization was made, under which the holders surrendered $1,200,000; Interest
was reduced to 4% and the Mercantile Trust Co., N. Y., was made the new
trustee. The said bonds are redeemable at 105 and interest. V. 69, p. 906
ROAD.-The system, with the Queens Railway, embraces 74.47 miles of
trolley track,Including main line,40.24 miles; second track, 28.96; sidings,
5.27. Rails 77 to 107 lbs., standard gauge; 226 closed and open cars; 19
work cars; 7 snowplows and 6 freight cars.
REPORT.-For fiscal years ending June 30:
Net.
Other Inc. Int. de Taxes.
Surplus.
Gross.
$204,573 def. $32,268
$20,745
1151,560
1906-07 ......_$892,467
275,386
203,987
12,461
83,860
1905-06
_ 839,732
Fuller,
L.
Gen.
I. City• V.-P. &
Mgr., W. 0.
OFFICERS.-.Pres., F. L.
-V. 77, p. 299, 350;
'
Wood; Sec. H. M. Fisher; Treas., D. W. McWilliams.
V. 82, p. 1439;
' V. 83, p. 752; V. 84, p. 804; V. 86, p. 548.
61
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock,$20,000,000 ($100)
$20,000,000
Consol. mtge., 110,000,000,1 i902
5 g J-J
8,494,000 Jan. 1 1942
gold ($1,000)____
_ ..c.jInt. at Union Tr. Co., San Fran., Trustee.
Los. Ang. & Pas. Nt.,if,000,000, gold, guar.(11,000) 01 1898
5 g J-J
1,000,000 Jan. 1 1928
Can be called after Jan. 1 Int. at Ill. Tr. & Say. Bk. Chic., Trustee.
1908 at 105.
J or at Chase Nat. Bank, dew York.
Pas. & Mt. L. snort. $500,-)
000, gold ($1,000) . _c*} 1900
4 g J-D
500,000 June 1 1930
Can be called after -191-0 at!Interest at Union Trust Co., San Francisco,
104 and Interest.
Trustee.
flottds.-A sufficient amount of the 110,000,000 consols is reserved to
81nrig Fund is 15,000 per annum, commencing Jan. 1.
,ittt e
1907, for 5 years; then $10,000 per annum to Jan. 1 1917; 115,000 per annum to Jan. 1 1922; 120,000 per annum to Jan. 1 1927; $25,000 per annum
to Jan. 1 1932; $30,000 per annum to Jan. 1 1937 and $35,000 annually
thereafter, said sinking fund to be used in the purchase of the bonds, but
fund may be Invested in other securities if bonds cannot be obtained at par.
The bonds of the Los Angeles & Pasadena bear the guaranty of the Los
Angeles By. by endorsement. A sinking fund of 119,500 per year on those
bonds begins Dec. 11008, and bonds may be called at 105 on any Interest
date after Jan. 1 1908. The bonds of the Pasadena & Mt. Lowe are guaranteed, principal and interest, by both the Los Angeles By. and the Los
Angeles do Pasadena Electric By. A sinking fund for those bonds commences after 10 years from date of bonds of 15,000 per annum for first
years, $7,500 per annum for second 5 years, $10,000 per annum for next ti
years and $12,500 per annum for remaining 5 years. 1 hese bonds may be
called after 10 years on any interest date upon 4 weeks' notice at 104 and
interest.
ROAD.-The Pacific Electric By. In Sept. 1908 was operating (including
leased lines) 551.30 miles of track.
OFFICERS.-Pres., H. E. Huntington; V.-P., W. F. Herrin; Sec. and
Aud. Jos. A. McBride; Treas., I. WI. Hellman; Gen. Mgr., J. McMillan.
p. 651; V. 84, p. 1248.
(1) Los Angeles Interurban Ry.-(See Map on page 60.)
ORGANIZATION.-Incorporated in California on June 8 1903 and is a
consolidation of the Los Angeles Traction Co., the Los Angeles & Glendale
By. and the California Pac. By. The Riverside & Arlington Ry. the
Santa Ana & Orange Motor By. and the San Gabriel Rapid Tr. Ry.'
have
also been acquired. Stock is all owned by Pacific Electric By., which
latter company also operates the property under lease of July 1 1908.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock, $10,000,000 ($100)-- $10,000,000
New mtge, $10,000,000, gold). 1903
5 g A-0
9,020,000
1943
($1,000), guar
c&rIInt. at Union Tr. Co., San Fran. Trustee.
Los Angeles Trac, 1st mtge,). 1895
6 g M-N
250,000 '
May 1915
$250,000, gold ($1,000)-- JSt. Louis Union Tr. Co., St. Louis, Trustee.
Los Angeles Trac 1st con 31,1 1898
5 g J-D
250,000 Dec 1 1938
gold, $250,000 (11,000)-1St. Louis Union Tr. Co., St. Louis, Trustee.
Interest on both above mortgages paid at Chase Nat. Bank, New York.
Cal Pacific By 1st mtge, gold). 1901
5 g J-J
480,000 July 1 1941
($1,000), guar
clTitle Ins. & Trust Co., Los Angeles, Trustee.
Bonds.-01 the California Pacific By. no stated amount authorized, but
is limited to $20,000 per mile of completed track. No sinking fund on these
bonds, and bonds cannot be called. Interest is payable in N. Y. City.
These bonds are guaranteed by the Los Angeles Trac.Co., both principal and
Int. See V. 75, p. 76. A sinking fund is provided for the new $10,000,000
mtge. as follows: 1908 to 1912 inclusive, $5,000 per annum; 1913 to 1917,
inclusive, $10,000 per annum; 1918 to 1922, inclusive, $15,000 per annum;
1923 to 1927, inclusive, $20,000 per annum;1928 to 1932, inclusive, $25,000
per annum; 1933 to 1937, inclusive, $30,000 per annum, and thereafter to
maturity, $35,000 per annum. The bonds are subject to call for the sinking
fund at a price to be determined by the directors. These bonds are guaranteed as to both principal and Interest by the Pacific Electric Ry.
ROAD.-Comprises about 310 miles of track. V. 79, p. 627, 2588;
V. 80, p. 651.
LOS ANGELES RAILWAY.-(See Map on page 60.)
Is one of the Huntington properties, Mr. Huntington being reported to
be the owner of 55% of the stock. See V. 80, p. 651. The Southern
Pacific Co. owns 45% of the sock.
ORGANIZATION.-Successor by consolidation Sept. 29 1898 of Los
Angeles By. and Main St. & Agricultural Park RR. and by purchase of the
Mateo Street RR. and San Pedro Street RR. V. 68, p. 85. Owns $5,050.000 of the$10,000,000 stock of the Pacific Light & Power Co. of Los Angeles,
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock, $5,000,000 (par, $100)$5,000,000
5 g A-0
New mortgage, 15,000,000,5 1898
5,000,000 Oct 1 1938
gold ($1,000 each)
c*1Int. at co's office, San Francisco, Cal.
The trustee of the new mortgage 01 1898 is the Union Trust Co. of San
Francisco, Cal. On 30 days' notice Interest may be made payable at the
National City Bank, New York.
EARNINGS.-For calendar year 1907, gross, $3,558,938. In 1906,
gross, $3,276,130; net, $944,279. In 1905, gross, $2,683,404; net,1811,149.
ROAD.-Comprises 212.93 miles of track.
OFFICERS.-Pres., H. E. Huntington; V.-P., W. F. Herrin; Treas.,
I. W. Hellman; Sec., C. A. Henderson, Los Angeles; Gen. Mgr., Howard
E. Huntington, Los Angeles.-V. 78, p. 229; V. 80, p. 651; V. 86, p. 52.
1224.
(1) Pacific Light & Power Co.-An electric company.
Owns all the stock of the Ontario & San Antonio Heights By., the San
Bernardino Gas & Electric Co., the Mentone Power CO. and the Riverside
Power Co. Has contract to purchase stock in the Sierra Power Co., which
has $14,000 bonds out; the Mentone Power Co., has $37,000 bonds out.
OR(IANIZATION.-Irworporated in California on March 8 1902 and
absorbed the San Gabriel Electric Co. 15,050,000 of the 110,000,000
(V. 75, p. 1150) capital stock is owned by the Los Angeles By. Co. Supplies power to the Los Angeles Ry. Co., the Pacific Electric By. Co., the
Los Angeles Interurban, the Los Angeles do Redondo By. Co., and does a
general lighting and power business in Los Angeles and vicinity.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDSStock, $10,000,000 MOO_
$10,000,000
First .mortgage $10,000,0001 1902
5 g J-J
*8,113,000 July 1 1942
c• lint. at Union Trust Co., San Fran., Trustee.
gold ($1,000)
1 or N. W. Halsey & Co., New York.
LOS ANGELES, CAL.
*12,350,000 of outstanding bonds are guaranteed, prin. and int., by
Los Angeles By. V. 86, p. 55.
Bonds.-$368,000 are reserved to retire a like amount of bonds of the
San Gabriel Electric Co. and $354,000 have been retired by sinking fund.
Only $2,350,000 of the bonds are guaranteed (p. & 1.) by Los Angeles By.
V. 86, p. 1227. Bonds cannot be called. A sinking fund commenced on
Jan.1 1905 of 2% of bonds outstanding for first 5 years and on and after
Jan. 1910 2T% until and including Jan. 1 1942; said fund to be invested
In the bonds at not more than 110; otherwise in other securities.
EARNINGS.-For calendar year 1907, gross, $1,281,055; net, $749,239;
interest, $336,097; surplus, ;413,142. In 1906, gross, *1,332,534; net.
$699,093; interest, $339,431; surplus, $359,662.
PLANT.-Generates electricity for light and power. Present generating
capacity, 43,000 h.-p. Water power, also steam plant, In Los Ange'es.
Has 15,000 h.-p. plant on Kern River, 125 miles from Los Angeles. Two
separate transmission lines running the entire distance are used. Hydraulic
plants at Azusa, at San Antonio, at Mentone and at Riverside. 20.000 h.-p.
steam plant at Redondo. V. 86. p. 55,
OFFICERS.-Pres., William G. Kerchoff; V.-P., H. E. Huntington:
Gen. Mgr., A. C. Balch.-V. 86, p. 55, 671, 1227.
PACIFIC ELECTRIC RY.-A trolley road.-(See Map on page 60.)
The Southern Pacific Company owns $10,000,000 of the $20,000,000
stock. See V. 80, p. 651, for item concerning purchase of minority interest.
ORGANIZATION.-This company was Incorporated under the laws of
California in 1901, and is a consolidation of the Los Angeles So Pasadena
Electric By., Pasadena & Mount Lowe By., Pacflic Electric of Arizona, the
East Ninth St. By., the Temple St. Cable By. and the Brooklyn Ave. By.,
comprising nearly all the interurban lines in and around Los Angeles.
Owns all the stock of Los Angeles Interurban Ry., which company It also
operates under lease dated July 1 1908.
LOS ANGELES PACIFIC CO.-An electric road. The Harriman interests are in control. V. 82, p. 751.
ORGANIZATION.-Successor in 1905 to the Los Angeles Pacific Railroad, which was organized June 4 1898. In Jan. 1904 purchased the Los
Angeles Ocean Park do Santa Monica RR. V. 78, p. 342.
In August 1907 company was understood to be contemplating the making
of a new $20,000,000 mtge. to furnish means for further Improvements and
extensions and to provide for ultimate retirement of existing Issues.
V. 85, p. 531.
62
Interest. Outstanding. Maturity'
Date.
STOCK AND BONDS515,000,000
Stock, 515,000,000 ($100)100,000
1928
Los Angeles Pacific RR 1st f 1898 5 J10-D-10
mortgage, $1,000,000, goldi Int. at Broadway Bank & Trust Co., Los
I Angeles, Trustee; Ill. Tr. & Say. Bk.,
($1,000)
( Chicago, or Chase Nat. Bank, New York.
5 A-0
1,400,000 April 1 1931
Los Angeles Pacific RR first 1 1901
con mtge, $1,500,000, gold }Broadway Bk. & Tr. Co., Los Ang., Trustee.
J Int. at Crocker Nat. 13k., San Francisco.
($1,000)
g
M-S
first
1903
5
3,250,000 Sept 1 1943
Los Angeles Pacific RR
and ref mtge, 55,000.000,}Int. at Los Angeles Trust Co., Trustee, or
c1 at U. S. Mort. & Trust Co..New York.
' gold ($1,000)
5 g J-J
5,000,000 Jan 2 1946
Los Angeles Pacific Co gen) 1906
consol mortgage $12,500,- }Int. at Union Trust Co., San Fran., Trustee,
c*I or at Farmers' & Mech. Nat. Bank, Los
000, gold ($1,000)
Angeles, or Chase Nat. Bank, New York.
5 g M-N
Los Angeles Her B & Red M,f 1902
1942
150,000
$500,000, gold ($1,000) _ _ _1Interest at Crocker Nat. Bk., San Francisco.
Bonds.-Of the $5,000,000 1st and ref. bonds authorized, enough are
reserved to retire prior liens. A sinking fund began in 1908, to which $50,000 per annum is payable the first 5 years, $80,000 per annum the next 5
years, 570,000 per annum the next 5 years, $80,000 yearly the following 5
years, $90,000 per annum the next 5 years, $100,000 yearly the following 5
years and $150,000 per annum thereafter. These bonds are not subject to
call. On the new bonds of 1908 the following sums are payable annually
to a sinking fund: 1911 to 1915, $10,000 per annum; 1916 to 1920, $15,000
per annum: 1921 to 1925, $40,000 annually; 1926 to 1930, $75,000 per
annum; 1931 to 1944, $80,000 annually, and 1945 to 1946, $90,000 per
annum. Of the $12,500,000 authorized, $5,000,000 are reserved for prior
liens and $5,000,000 for other purposes.
EARNINGS.-For calendar year 1905, gross, $1,154,519; net, $419,384.
ROAD.-Owns four lines of trolley road from Los Angeles to the Pacific
Ocean, the entire local system of Santa Monica, with branch lines from
Los Angeles to Hollywood, Colegrove, Westgate, Redondo Beach, Soldiers
Home and Inglewood, constituting 68.9 miles of double track; total mileage,
176 miles of single track. Operates 2 large power houses at Sherman and
Vineyard, with machine shopd and car shops at Sherman.
OFFICERS.-Pres. and Mgr., E. P. Clark; V.-P. and Mgr., M. H. SherA. I. Smith; Treas., M. E. Hammond; Auditor, G. L. Bugbee;
man;
Supt.,Sec.,
R. P. Sherman.-V. 82, p. 100, 161, 751; V. 85, p. 531.
LOS ANGELES & REDONDO RV.-A trolley road.
In July 1905 H. E. Huntington purchased the entire capital stock.
V. 81, p. 211.
INCORPORATION.-Incorporated in California. Capital stock was increased In Oct. 1907 from $500,000 to $5,000,000.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
Stock, $5,000,000 ($100) - $500,000
1st mortgage, $500,000, gout) 1902 5 g J-J15
500,000 Jan 15 1932
($1,000)
c*JInt. at Union Trust Co., San Fran. Trustee.
ROAD.-Operates 84.33 miles of track. Gauge 3% feet. Operated by
electricity. Cars equipped with 4 motors of 50 h.-p. each. Passenger
cars, 34; freight and miscellaneous, 108.
OFFICERS.-Pres., L. T. Garnsey; V.-P., H. E. Huntington; Sec. &
Treas., C. A. Henderson; Mgr., C.H.Burnett.-V. 81, p. 211; V. 87, p. 415.
LOUISVILLE, KY.
LOUISVILLE TRACTION CO.-A holding company.
ORGANIZATION.-Incorporated in New Jersey on July 5 1903, and has
acquired practically all of the stock of the Louisville Ry. Co Holders of
common stock of Louisville Ry., on payment of $55 in cash, received three
shares of new common stock in exchange for each share of old stock held.
Holders of the old preferred stock of the Louisville Ry. received share for
share of new preferred, with a bonus of 20% In common. The new company provided the Louisville By. Co. with needed money to be used for
Improvements, the railway company issuing $1,100,000 common stock
therefor. See V. 79, p. 968. The Traction Co. In March 1906 sold $912,000
additional stock to shareholders at par. See V. 82, p. 692. In April 1007
authorized common stock of the Traction Co. was Increased from $12,000,000 to $15,000,000. V. 84, p. 931. In April 1908 preferred stock was
Increased from $2,500,000 to$3,500,000 and the additional $1,000,000
offered to stockholders at par (all of which was taken) payable $50 per
share at time of subscription, $25 Oct. 1 1908 and $25 Jan. 1 1909.
The old Louisville By. Co. was incorporated Jan. 22 1867, and is a Kentucky company, owning all the street railways in the city of Louisville and
Its suburbs. It has $5,500,000 common stock and $2,500,000 preferred
stock, practically all owned by the Louisville Traction Co. Franchises
are partly for 99 years and partly perpetual.
The Louisville & Interurban By. has been organized in the interest of
the Louisville Ry. to construct a system of urban and interurban lines. It
has been authorized to borrow $3,000,000. Up to latest dates no securities
had been issued except $1,215,000 stock to Louisville By. Co.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSQ-J
$11,889,700 Oct.'08, 1%
Common, 515,000.000
A-0
3,500,000 Oct'08,2%%
Pref., 5% cum., $3,500,000 - __6 g J-J
1 1884
370,300 J'ly 1 1909
Louisville City Ry
'Louisville Trust Co., Louisville, Ky., Trustee
1st mortgage, gold
6 M-N
1888
103,000 Nov. 1 1908
i Interest payable at First Nat. Bank, Loulsv.
Central Pass. Ry. M
Louisville Trust Co., Trustee.
5 g J-J
5,526,000 July 1 1930
Louisville By. Cons. M., gold,f 1890
$6,000,000 (listed N Y) c *i Interest payable by Seligman & Co., N. Y.
Trust Co., Louisville, Trustee.
Fidelity
(
1,000,000 Mch. 1 1940
Louisville By 2d mtge, $2,- 1 1900 4% g M-S
1Int. at Columbia Tr. Co., Louisville, Trustee.
000,000, g ($1,000)
Louisv Ry notes, 5500,0001
6 J-D
500,000
1907
1910
($1,000)
Bonds.-01 the second mortgage bonds due 1940, not more than $200,000
can be issued in any one year for improvements. V. 70, p. 430, 480, 532.
Besides the $1,000,000 outstanding above, $600,000 are pledged as security
for the 1907 Louisville By. notes. These latter are subject to call June 1
1908 or on any Interest date thereafter. V. 84, p. 1307.
Dividends,-On Traction pref., 5% per annum. On com, the first
semi-annual dividend, 11f%, was paid Oct. 1 1904 and 1)'% was again
paid April 1 1905. On Oct. 1 1905 11% and A % extra. In 1906, 4%.
In 1907, 4%. In 1908, Jan. dly. omitted; April, 1%;July, 1%;Oct. 1%.
ROAD.-Owns 145 miles of track on 62 miles of street; all is electric.
Affords entrance into Louisville for the Louisville & Eastern RR., the
Loulsy Ile & Northern By. & Lighting Co. and Louisville & So. Ind.
Traction Co. The Louisville & Interurban operates 45 m. of track in
Jefferson County.
REPORT.-Of Louisville Railway Co. for fiscal years ending Dec. 31.
Annual meeting third week in February. 1907 report in V. 86, p.853.
1906. I Year.
1907.
1906.
1907.
Year.
Gross earns.a.52,668,146 $2,592,996 'Dividends ___ $496,737
$596,706
35,334
Net
900,198 1,020,682 'Bal., surplus_
*82,705
350,271
368,126
Interest paid_
a There were two strikes In 1907.
* Of this amount 570,000 In 1906 was credited to depreciation account.
OFFICERS.-Pres., T. J. Minary; V.-P., A. P. Humphrey; Sec. and
Treas., Samuel.G. Boyle. V. 86, p. 168, 857; V. 87, p. 544.
LOUISVILLE & EASTERN RR.-A trolley road.
In May 1908 it was reported the Louisville Frankfort & Eastern Traction
Co. was being organized with $2,500,000 common and $750,000 preferred
stock and an authorized bond Issue of 53,500,000, to take over certain
interurban lines entering Louisville, among them the Louisville & Eastern
RR. V. 88, p. 344.
In Sept. 1908 it was stated that negotiations for purchase of road had
been consummated. V. 87, p. 677.
ORGANIZATION.
-This was formerly the Louisville Anchorage ec
Pewee Valley Electric By.. Incorporated Jan. 14 1901, but name changed
as above in January 1903.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$2.000,000
Stock, common, $2,000,000
Pref, 5400,000, 5%, non-cum- __400,000
5 g A-0
1 1906
650,000 April 1 1956
1st mortgage, $2,000,000, is( Int. at Merchants' Nat. Bank, Boston, or
Fourth Nat. Bank, New York.
($1,000), s f
told Colony Trust Co., Boston, Trustee.
Lxxxvii.
ELECTRIC RAILWAYS
Bonds.-01 the $2,000,000 authorized, the balance unissued is reserved
for extensions, &c. See V. 82, p. 987. A sinking fund of 1% per annum
of bonds out Is operative from 1911 to 1931; thereafter 2% per annum.
Bonds are subject to call at 110 and Interest.
EARNINGS.-For fiscal year ending Dec. 31 1007 (fiscal year formerly
ended Feb. 28), gross, $156,372; net, $49,578. In 1906, gross, $117,839;
net, $33,342. In 1905, gross, $117,083; net, 537,462.
ROAD.-Operates 27 miles between Louisville, Beards and La Grange,
on private right of way. 70-1b. rails. An extension from Lakeland to
Shelbyvile, 24 miles, is expected to be completed in 1908. 10 passenger
cars and 2 express cars.-V. 86, p. 1344; V. 87, p. 177.
INDIANAPOLIS & LOUISVILLE TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated in Indiana in 1905 under the general
railroad laws. Franchises in cities and towns are for 50 years from 1905;
remainder is on private right of way.
STOCK AND BONDSDate.
Interest. 0
$u
3tand8i0
2ts
,56,0
ng. Maturity.
Common, $2,500,000
_____
Pref, 5500,000(5100)
100,000
1st mortgage, $1,250,000, gl 1905
5 g A-0
1,250,000 April 1 1936
($1,000)
c*fInt. at Colonial Trust Co., Pittsb. Trustee.
Mtge & coil tr notes, $400,0001 1907
300,000 Jtily 1 1912
6 g J-J
($1,000 and $500), gc&rfInt. at Colonial Trust Co., Pittsb., Trustee.
Bonds.-On 1st mtge. bonds a sinking fund of 5% per annum of gross
earnings commences April 1 1916. They are subject to call on any Int. date
at 105 and Int. The trust notes are convertible at option of holder at par
Into pref. stock. Can be called on 90 days' notice at 102M and Int.
ROAD.-41.8 miles of track from Sellersburg (from which point cars
are run Into Louisville over tracks of Louisville & Northern By. & Ltg. Co.)
to Seymour, from which place it will enter Indianapolis over the tracks of
the Ind. Col.& South., with which It has a contract. Road put in operation
In 1907. Through limited cars from Louisville to Indianapolis are expected
to be operating in 1908. Standard gauge, 75-1b. T rails.
OFFICERS.-President, James M. Andrew; Vice-Pres., Jno. E. Greeley,
Louisville; V.-P., W. L. Lyons, Louisville and New York Sec. and Treas.,
Alexander C. Thompson, Pittsburgh; Asst. Sec. and Treas. Robt. J.
Thompson, Louisville; Gen. Mgr., A. A. Anderson, Seymour, Ind. Office,
Columbia Bldg., Louisville, Ky.-V. 83, p. 155, 562, 1290; V. 85, p. 793.
LOUISVILLE & NORTHERN RAILWAY & LIGHTING.
ORGANIZATION.-Incorporated under the general railroad laws of
Indiana in Dec. 1905. $900,000 of the $1,000,000 stock of the United
Gas & Electric Co. and $232,700 stock of the New Albany Water Works
Co. are deposited under this company's mortgage. Has purchased the
electrical equipment of the Kentucky & Indiana Bridge Co., and leases the
bridge for 25 years, thus affording independent entrance Into Louisville.
Company does electric lighting and express and freight business in addition
to passenger business. Road is mainly on private right of way.
Date.
STOCK AND BONDSInterest. Outstanding. Maturity.
_ _ _
$3,500,000
Common, $3.500,000
Pref, $1,500,000, series A __ __
1,500,000
See text
Q-J
mortgage,
$2,500,000, gf 1905
5 g J-D
500,000 Dec. 1 1925
1st
c*i Int. at Amer. Tr. & Say. Bank, Chicago.
($500 and $1,000)
Trustee, or at Eliot Nat. Bank, Boston.
Bonds.-Unissued bonds can only be issued for 80% of cost of property
built or acquired. Are subject to call after Dec. 1 1910 at 105 and interest.
V. 82, p. 868.
Stock.-The Series A pref. stock is 6% cum., the Series B is cum. and will
receive 2% in 1906, 3% In 1907, 4% in 1908, 5% in 1909 and 6% In 1910
and thereafter.
Dividends.-Dlyldends from July 1 1906 on both classes of pref. stock
have been paid at rates called for up to and ncluding July 1008.
ROAD.-Operates 20 miles of track, Louisville to Charlestown, with a
line branching off at Watson and running to Sellersburg. At Sellersburg
connects with the Ind. & Louisv. Traction Co., running to Seymour, where
connection s made with the Ind. Col. & So., thus forming a through line
between Louisville and Indianapolis. The line from Louisville to Charlestown will form part of a through line between Louisville and Cincinnati.
Standard gauge. 70-1b. T rail.
OFFICERS.-Pres., Samuel Insult, Chicago; V.-P. and Treas., R. W.
Waite; Sec., F. J. Strattor; Gen. Mgr., Martin J. Insull.-V. 82, p. 509, 868.
(1) United Gas & Electric Co.
ORGANIZATION.-Ineorporated In Indiana in 1902 and acquired the
New Albany Gaslight & Coke Co., New Albany Light, Heat & Power Co.
Jeffersonville Electric Light, Heating, Gas & Coke Co. and Jeffersonville
Light & Water Co.; also controls the Louisville & Southern Indiana Traction
co. Does entire gas and electric-lighting business In New Albany and
Jeffersonville, and supplies also Port Fulton, Silver Grove, Clarksville and
Charlestown. Franchises, 45 years in New Albany and 50 years in Jeffersonville from 1902; in other towns from 20 to 40 years. Guarantees the
$250,000 first mortgage bonds of New Albany Street Railway Co.
STOCK AND BONDS,Date.
Interest. Outstanding. Maturity.
Stock, $1,000,000 ($100)
$1,000,000
First mortgage $750,000(511 1902
736,000
5 g J-J
See text.
000) gold
a* Interest at American Trust & Say. Bank,
Chic., Tnis., and at Eliot Nat. Bk., Bost.
First consolidated mortgage,) 1904
See text
5g
See text.
$1,500,000 gold ($500 and Interest at American Trust & Savings Bank
$1,000)
c*
Chic., Trus., or at Eliot Nat. Bk., Boston.
Notes $500,000 6% gold (51,-) 1007
6 F-A
350,000 Aug 1 1912
000, $500 and $100)
cfInt. at Central Trust Co. Chicago, Trustee.
Bonds.-$736,000 new consols are reserved to retire
'a like amount of
first 55; $365,000 are reserved for future betterments and improvements,
$385,000 are outstanding to secure the note issue and 514,000 have been
retired. Both issues mature serially from 1907 to 1942, but the bonds of
1902 may be called after July 1 1912 at 105 and interest; the new consols
after July 1 1924 at 105 and interest. See V. 79, p. 2458. The 1907 notes
are secured by 110% of the 1904 consolidated mortgage bonds. Can be
called at 101 and interest on 30 days' notice. Unissued notes are reserved
for future improvements. V. 85, p. 1466.
EARN INS.-For years ending May 31:
1908.
1907.
1008.
1905.
Gross earnings
$280,781 $269,987 $263,220 $219,876
Operating expenses and taxes
170,309
170,709
173,534
140,215
Net earnings
Interest
$110,072
52,404
$99,678
46,400
589,686
46,641
$70,661
37,507
Balance
$57,668
$53,179
$43,045
$33,154
OFFICERS.-Pres., Samuel Insull, Chicago; V.-P. and Treas., R. W.
Waite; Sec., F. J. Stratton Gen. Mgr., Martin J. Insult; Supt., J. W.
Dunbar. V.80, p. 1236; V. 81, p. 1794; V. 82, p. 871; V. 85, p. 737, 1466.
(a) Louisville & Southern Indiana Traction Co.
ORGANIZATION.-Incorporated in Indiana under the General Railroad
Laws in 1903, and is successor to the Southern Indiana Interurban Railway
Co. Leases the New Albany Street Railway Co. for 25 years from Aug.1
1903 (with privilege of renewal for 25 years) at a yearly rental of 5500, the
int. charges and taxes and divs. of 4% on $100,000 preferred stock. V. 77,
D. 769. In Sept. 1904 acquired the Highland RR. for $10,000 in bonds;
V. 79, p. 1643. In Dec. 1905 acquiled the Jeffersonville City Ry. Sec V.
Si p. 1792. Is controlled by the United Gas & Electric Co., which see
above. Franchises owned are for 50 years: also permitted to carry freight.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Common, $2,000,000 ($10)
52,000,000
Pref 6%cum.51,000,000 ($10)
434,980
First mortgage $1,000,000} 1003
5 g M-S 15 1,000,000 Sept.15 1923
gold ($500,000 and 51,000) Int. at Amer. Trust & Say. Bank, Chicago,
and U. S. Trust Co., Louisville, Trustees.
New Albany St. By 5250,0001 1902
250,000 Aug. 1 1927
5 F-A
($1,000) guar pan & Inter)Int, at U. S. Trust Co., Louisville, trustee.
Bands.-No sinking fund, but bonds are subject to call after 10 years at
and
interest. See V. 77, D. 789, 2339. The New Albany Street By.
105
bonds are subject to call on any interest date at 105 and Interest and are
guaranteed by United Gas & Electric.
EARNINGS.-For fiscal year ending July 311907: Gross, $257,972; net
$83,031: interest, $40,999; dividends, 526,097; surplus, $6,935.
ROAD.-Operates 33 miles of track, Including 103i miles leased from
New Albany Street By., and also line between New Albany and Jeffersonville. and city lines In Jeffersonville. An extension to Louisville was completed in Sept. 1905. Has a contract with "Big Four" I411. for the use
of its bridge over Ohio River and with Louisville Railway Co. allowing its
cars to enter Louisville. Has erected an interurban terminal on Third St..
Louisville. Girder rails, 90 lbs., T rails 75 and 77 i•-6 lbs.
OFFICERS.-Pres. Samuel Insult, Chicago; V.-P. and Treas., R. W.
Waite; Sec., F. J. Strattor; Gen. Mgr., Martin J. Insull.-V. 81, p. 1792.
ELECTRIC RAILWAYS
SEPT., 1908.]
LOWELL, MASS.
10WELL & FITCHBURG STREET R Y.-A trolley road.
ORGANIZATION.-Incorporated in Massachusetts in 1903.
STOCK AND BONDSInterest. Outstanding. Maturity
Date.
Stock, $275,000,$100 _
*275,000
First mortgage, *1,000,0001 1906
275 000 Jan. 1 1926
5 g J-.I
gold ($1,000)_
1Int, at tin. Sec. L.I.& Tr. Co.. Phila., Trust.
Bonds.-Are subject to call at 105 and interest on any interest date. No
sinking fund.
ROAD.-Operates 14 miles from Lowell, where it connects with the
Lowell system, to Ayer, where connection is made with the Fitchburg &
Leominster Street Ry. Also a branch, about 5 miles, from North Chelmsford to Westford.
OFFICERS.-Pres., James W. Green, Gloversville; Sec., C. V. Mills;
Treas., Jeremiah Wood.-V. 83, P. 38.
LYNCHBURG, VA.
LYNCHBURG TRACTION & 1101I1 CO.-Trolley.
ORGANIZATION.-Incorporated In Virginia, and is a consolidation on
May 1 1901 of the Lynchburg Electric Railway & Light, the Lynchburg &
Rivermont Street Ry. (franchise perpetual), the Lynchburg Gas Co. and
the Lynchburg Water Co., and comprises all the street railways, gas works
and electric-light plants of Lynchburg and hydraulic power development at
Reusens, Va.; also owns all the stock of the Lynchburg Water Power Co.,
and has assumed the $500.000 1st mtge. 5% bonds of that company.
In 1907 authorized stock was Increased from *750,000 to $1,000,000 to
provide for the conveTtible feature of new bonds.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock, $1,000,000 ($50) _
J-D
See text.
$750,000
First mortgage. $1,000-,0001 1901
5 g M-N
880,000 May 1 1931
sinking fund ($1,000) gold Real Estate rrust Co., Philadelphia, Trustee.
C•
Interest at R. M.Janney & Co., Philadelphia.
Gen mtge cony, *250,000,1 1907
6 g J-D
$200,000 Dec 1 1917
gold ($1,000)
c• 5 Logan Trust Co., Philadelphia, Trustee.
Lynchburg Gas Co first mort-1 1900
1930
111,000
5 M-S
gage $250,000
1Int. at Real Estate Trust Co., Phila., Trust.
Lynchburg Water Power first1 1902
500.000 July 1 1932
5
mortgage, $500,000
f Real Estate Trust Co., Philadelphia,Trustee.
Dividends.-In 1904, July, 1%; Nov., 1%; in 1905. 2%;in 1906,
%.
In 1907, June ,1 %; Dec., 1 %. In 1008, June 15, 1 ;i% and I% extra.
Bonds.-The new gen. mtge. bonds are subject to call on any int. period
at 103 and int.; they are convertible at any time into stock at par. V.86, p.
52. No s. I. Of the 1st mtge. bonds, $111,000 are reserved to retire bonds
of like amount of Lynchburg Gas Co. due 1930, and of which no more are
to be issued; $9,000 have been canceled. Sinking fund of 1% per annum
becomes operative in 1906, which is Increased in 1916 to 1M %. Entire
ssue can be called at any time.
EARNINGS.-Year ending Apri130 1908: Gross, $342,411; net, $148,316;
Interest charges, $76,332; dividends, $22,500; surplus, $49,484
ROAD.-Owns and operates about 20 miles of road in city and suburbs.
Standard gauge. 40 cars. Owns Rlvermont Park.
OFFICERS.-Pres. and Gen. Mgr. R. D. Apperson, Lynchburg, Va.;
V.-P., Chas. R. Miller, Phila.; Sec. and Treas., F. H. Shelton, 1004 Pennsylvania Bldg., Phila.-V. 72, p. 873; V. 86, p. 52, 168, 1529.
McKEESPORT, PA.
PITTSBURGH & WESTMORELAND RAILWAY CO.
ORGANIZATION.-Incorporated in 1904 in Pennsylvania. Controls
Manor Valley By. Co. with $75,000 stock, of which $50,000 is outstanding.
Date.
STOCK AND BONDSInterest. Outstanding. Maturity.
Stock,$350,000 ($50)_
$350,000
5 g F-A
1934
First mortgage, $350,0001 1904
350,000
($500 and $1,000) gold_ _c* Interest at Union Trust Co., Pitts., Trustee.
Bonds.-Not subject to cal and no sinking fund.
ROAD.-Runs between Irwin and McKeesport,8M miles. Total track,
9 miles. The controlled Manor Valley Ry. Is building 5 miles of track from
junction with Pitts. & West. By. to Herminie. Gauge, 5 feet 2M inches.
70-1b. T rail and 73 and 90-lb. girder.
OFFICERS.-Pres., Manning Shires; V.-P., John K. Evans; Sec., Henry
Keil; Treas., A. S. Evans; Mgr., T. M. Evans.-V.83, p. 493; V. 85, p. 346.
MACON, GA.
63
RR. Comm. to increase its stock from $421,000 to $570,250, to fund floating debt and provide means for new rolling stock; accordingly. 995 new
shares were issued at 150. In July 1903 $174,000 additional was authorized
and In Jan. 1905 $250,000. On Nov. 12 1907 Comm. authorized an
additional $275,000 stock, but on account of financial conditions stock
will not be issued at present. Total now authorized $1,219,500; issued
$944,500.
In June 1906 Manchester Traction Light & Power acquired the entire
$200,000 capital stock of the Golfs Falls Litchfield & Hudson Street Ry.
(name changed in Feb. 1907 to Manchester & Nashua Street Ry.) and
Issued $350,000 stock to pay for the same and to provide cost of Improvements, &c. See V. 82, p. 1380.
Franchises perpetual.
STOCKDate.
Interest. Outstanding. Maturity.
Stock, $5,000,000 4100)$2,400,000 Oct 15'08,2%
Q-J
First consol mtge,
iebi 5 g A-0
1,7,0,000 April 1 1921
c• Interest at American Trust Co., Boston, Tr.
void ($1,000)
Manchester Electric Light Col
5 g A-0
first mortgage,$250,000_ _ f 1897
250,000 Oct. 1 1917
5 g J-D
Golfs Falls Litch & liud 1st MI 1906
200,000 June 1 1926
_ Interest at American Trust Co., Boston, Tr.
gold $300,000 ($1,000)
5 J-D
Man & Derry St By 1st mtge.1 1907
$125,000 Dec 1 1927
$500,000 ($1,000), guar_ __ lint. at American Trust Co., Boston, Trustee.
Bonds.-Of the new first consolidated mortgage, $250,000 are reserved to
retire the bonds of the Manchester Electric Light Co. The Goffs
Falls Litchfield At Hudson bonds are guaranteed, principal and interest, by
the Manchester Traction, Light & Power Co. Of the Manchester & Derry
St. Ry. bonds, $375,000 are reserved for additions and improvements.
They are guaranteed, prin. and int., by Man. Trac. Lt. & P. Co. No s. 1.
ROAD.-The different roads controlled comprise 58.15 miles of track as
follows: Manchester Street By., 37.24 miles; Manchester & Nashua St.
By. (formerly Golfs Falls Lltch. & Hud. St. Ry.) 12.75 miles; Manchester
ec Derry St. fly., 8.16 miles.
Dividends.-First dividend of 3% on July 15 1901; in 1902. 6%; in 1903
(changed to quarterly), 7 %; in 1904,6% ;in 1905,6%; in 1906, 7%; in
1907, 8A %;in 1908, Jan., 2%; April, 2%;July, 2%; Oct. 2%.
REPORT.-01 the Manchester Street Ry. for years ending June 30:
Net. Int.& 7'ax.1 *Dividends. Aurplus.
Gross
$2,295
1907-08
8340,469 $78,203 $19,238 (6%)$56,670
1906-07
89,942 15,365 (6%) 56,670 17,907
339,541
1905-06
2.851
69,015
9,694 (6%) 56,670
313,031
7,195
1904-05
291,729
70,736 14.370 (6%) 49,170
• This is dividend on Manchester Street By. stock.
EARNINGS.-Of Manchester Traction, Light & Power Co. for year ending June 30 1908, gross, $407,541; net, $300,922; other Income, $56,870
Interest and taxes, $115,780; miscellaneous, $2,979; dividends, $192,000;
surplus, $47,033.
OFFICERS.-Pres., William A. Tucker; V.-P. and Gen. Mgr., J. Brodie
Smith; Treas., S. Reed Anthony.-V.83, p. 38, 96, 1590; V. 86, p. 421.
MANISTEE, MICH,
MANISTEE LIGHT & TRACTION CO.
ORGANIZATION.-Organized in 1906 in Michigan as a consolidation
of the Northern Michiganaraction and North WesternMichigan Lt.& Pow.
Does the gas, electric light and street railway business in Manistee, Flier
City and East Lake. Franchise 30 years from 1904.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$885,000
Common, $885,000 ($100)Pref cum, $115,000 ($100)
115,000
600,000 July 1 1928
1st mtge, $1,500,000 ($1,000) f 1906
5 g J-J
g, not redeemable
c9 New England Trust Co., Boston, Trustee.
lInterest at E. H. Gay & Co., Boston.
Bonds.-Unissued bonds can be issued for 80% of cost of extensions,
additions and improvements.
ROAD.-Operates 10 miles of track. Gauge 4 ft. 8M in. 35 to 40-lb.
T and 85-1b. girder rails. 30 cars. Operates a 50-acre park on Lake
Michigan.
OFFICERS.-Pres., Edward M. Deane; V.-P., Lindsey Hooper; Sec.,
Frank G. Deane; Treas., Raymond E. Preble; Asst. Sec. and Treas.,F.C.
Mildram; Gen. Mgr., Harry B. Wales.
MARION, ILL.
COAL BELT ELECTRIC RY.-
In 1904 passed into control of the St. Louis Iron Mountain & Sou. Ry. Co.
Maturity.
Interest. Outstanding
SrocK AND BONDSDate.
MACON RAILWAY & LIGHT CO
$300,000
In 1907 control changed hands and officers elected as below. V.85,p.1005. Stock,$300,000 ($100) _ _ __
EARNINGS.-For fiscal year ending June 30 1907, gross, $53,419; net,
ORGANIZATION.-Incorporated in Georgia on Oct. 23 1902 by the
Railways & Light Co. of America as a consolidation of the Macon Commit- (deficit), $4.086.
ROAD.-----Operates 16.36 miles of track from Marion to Spillertown, Poldated Street Ry. the Macon Electric Light & By., the North & South
Macon Street By.
'
and the Metropolitan Street By. The city ordinance per- lard, Carterville and Herrin. Standard gauge. 60-1b. T rail.
OFFICERS.-Pres.,Geo..I. Gould; V.-P., C. S. Clarke; Gen. Mgr., A. W.
mitting the consolidation, passed on Sept. 16 1902, protided that at least
$150,000 shall be expended for improvements within two years, and granted Sullivan; Sec., F. W. Irland Treas.. F. M. Hickman; Traffic Mgr., W. C.
a 50-year franchise. For terms, see V. 75, p. 733. In Sept. 1905 a large Stith; Gen And.. S. B. Schuyler, all of St Louis; Supt., J. Burns. Marion.
block of stock changed bands. V. 81, p. 1100. Voting trust in stock was
dissolved in Sept. 1905.
MARSHALLTOWN, IA.
Interest. Outstanding. Maturity.
STOCK AND BONDSDate.
MARSHALLTOWN LIGHT POWER &
*900,000
Common. $900,000 ($100)_ ____
in Iowa in 1892. Exclusive rights
.-Incorporated
ORGANIZATION
8 A-0
Pref., $300,000 ($100)6% cum ____
300,000 .Ap
-e-0-8-, 5:,
plant and electric railway.
1
5 g J-J
950,000 Jan. 1 1953 till 1917. Runs electric lighting and gas
Mac it & Lt first cons mtge g1903
Intercst. Outstanding. Maturity,
Date
BONDSSTOCK
AND
$1,000,000 ($1,000) _ ._ _0 Int. at Trust Co. of America, N.Y., Trust?c.
$250,000f.p
Mac Elec Lt & By first mtge 1899
6 g J-J
42,500 Jan. 1 1929 Stock ($500,000) ($100)
150,000 July 1 1913
6 g J-J
($150.000)1 1893
mortgage
$100,000 ($500) gold__ c• Int. at Bowling Green Tr. Co., N. Y. Trust. 1st
gold ($1,090)...c*jInt. at Ill. Tr. & Say. Bk., Chicago, Trustee.
Bonds.-$50,000 Mac. By. & Lt. 1st consols. are in treasury of company;
Bonds.-Cannot be called.
bonds are subject to call on any int. date after 5 years at 110 and int.
EARNINGS.-For calendar year 1907, gross, $88,055. In 1906, gross,
Bonds and stock aggregating $69,700 are held by Savannah Trust Co. to
$76.052.
retire $42,500 of the Macon Elec. Lt. & By. bonds. See V. 76, p. 212.
ROAD.-Trolley track, 4 m. Standard gauge, 40 and 60-lb. T rail.
Dividends.-6% per annum has been paid on preferred 1903 to 1907
OFFICERS.-Pres., C. D. Junes, Independence, Is.. Sec., S. B. Hovey.
.
inclusive. In 1908 April, 3%.
ROA1).-Owns and operates about 32,14 miles of track, all of which has Independence, Ia.; Treas. and .Supt., M. W. Hovey, Marshalltown, la
been re-laid with 70-lb rails.
REPORT.-For years ending Dec. 31:
MASON CITY, IOWA.
Calendar
Net
Int. and Dicon Pref. Balance.
Gross
MASON CITY & CLEAR LAKE RY. CO.Earnings.
Taxes.
YearsEarnings.
(6%).
Surplus.
ORGANIZATION. ETC.-A trolley road. Operated since July 1897.
1907
*149,266
$67,260
$17,016
$355,387
$64,090 Owns right of way 33 feet wide from Mason City to Clear Lake. 9 miles.
1006
59,547
17,018
290,345
105,002
28,440 Length of line within and between two cities, 17.6 miles. Stock, $200,000.
OFFICERS.-Pres., W. J. Massee; 1st V.-P., Jacob S. Collins; 2d V.-P., Bonds (authorized), 8100,000 1st gold 8s. J-J 15, Interest at Illinois Trust &
M. Felton Hatcher; Sec. and Treas., J. E. Jaudon; Gen. Supt., J. W. Mc- Savings Bank, Chicago, Trustee; sinking fund retires 83,000 yearly at 103.
Farland.-V. 78, p. 343; V. 81, p. 508; V. 85, p. 1005; V. 86. p. 421.
beginning Jan. 15 10u0, and amount now outstanding, 570,000. Handles
all freight coming over Iowa Central, Chicago & North Western and
Chicago Great Western railways between Mason City and Clear Lake.
MADISON, WIS.
Gross earnings for 1907, $56,651; net, $15,503. Pres., W. E. Brice; Sec.
SOUTHERN WISCONSIN RAILWAY CO.-A trolley road.
and Gen. Mgr., F. J. Hanlon: Aud., G. E. Peck.
ORGANIZATION.-Successor to the Madison & Interurban Traction Co.,
which was incorporated in Jan. 1905, and on Sept. 1 1005 purchased the
MATTOON CITY, ILL.
Madison Traction Co., which was itself successor to the Madison Electric By.
Franchises expire in 1932, 1938 and 1944, and are practically exclusive.
mAriooN CITY RAILWAY CO.-A trolley road.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Receivership.-In Sept. 1907 W. F. Avey was appointed receiver, followStock, $100,000 ($100)
_
550,000
ing a wreck in August which resulted in the loss of 17 lives. V. 85, p. 601,
Mad & Interur Trac 1st mt_ge_ 1906
685,000 May 1 1931 654.
5 g M-N
$1,200,000 gold ($1,000)-cfInt. at Citizens' Say. & Tr. Co., Cleve.,Trus.
ORGANIZATION.-Incorporated in Illinois in 1902. Cwns entire capGen. mtge. $2,000,000 gold__
50,000 June 25 '32 ital stock of the Mattoon Light, Heat & Power Co., said stock being de5
Bonds.-Whole issue Mad. & Interurban Trac. bonds can be called posited under the Ry. Co.'s first mortgage. The Power company has no
on any interest date at 102 and interest on 60 days' notice; no sinking fund. bonded debt. Franchises expire in 1924.
Of the gen. mtge. bonds, $685,000 are reserved to retire above prior liens
Date.
Interest. Outstanding. Maturity.
STOCK AND 130NDSand $450,000 are in treasury of company.
$500,000
Stock,$500,009 ($100)
ROAD.-Owns, with extensions now in progress, 16 miles of standard- 1st mtge., $350,000 gold)* 1006
340,000
See text.
5 g J-J
gauge track, Including lines in Madison, and extension to Fair Oaks, Elmc*Iint. at 1st Trust & Say. Bk., Chicago, Trust.
($1,000)
side, Lake Park Cemetery and South Madison.
f 1906
160,000 Jan. 1 1936
5 g J-J
Dec.
311907:
ending
$153,703;
net, after taxes, Ref. & Ext. Mtge., $1,000,-,Int. at Colonial Tr. h Say. Bk., Chic., Trust.
REPORT.-Year
Gross,
$68,214. In 1906, gross, $130,255; net, $60,318.
co( or at National City Bank, New York.
000, gold ($1,000) _
OFFICERS.-Pres., F. W. Montgomery; V.-P.
-P., Dudley Montgomery; Receivers' certificates
41,000
Sec. and Treas., Warren Montgomery; Supt., D.
72, p.
I3onds.--The first mtge. bonds are due *10,000 annually on Jan. 1 from
438; V. 73, p. 494, 663; V. 79, p. 501; V.80, p.1174; V. 83, p. 96, 156.
1908 to 1920. inclusive; remaining $210,000 on Jan. 1 1921. These bonds
are subject to call beginning Jan. 1 1909 at 105 and int. The ref, bonds
are redeemable beginning 1916 at 105 and int. No. s. f. on either issue;
MANCHESTER, N. H.
$340,000 ref. bonds reserved to retire firsts
&
LIGHT
POWER CO.
MANCHESTER TRACTION,
EARNINGS.-For fiscal year ending July 31 1906, gross, $60,500; net,
ORGANIZATION.-Incorporated in 1001 in New Hampshire and com- $25,500; other income,$13,000,interest and tam;$28,000;surplus,$10,500.
prises the several light, power and street railway properties in and acround
ROAD -Operates 14 wiles of track in and between Mattoon and CharlesManchester. The company owns the stock of the Manchester Electric Co., ton. 70 and 72-1b.T rail. Standard gauge. Also does electric light and
which controls the Manchester Electric Light Co. and the Manchester Street power business in Mattoon.
OFFICERS.-Pres., E. A. Potter; V.-P.. M. Ii. Sampsell; Sec- W A
By.; also owns entire $125.000 stock of the Manchester & Derry Street By.
In 1002 the Manchester Street By. was authorized by the New Hampshire Underwood, Chicago; Treas., L. C. Rose, Chicago.- V. 85, p. 601, 654.
ELECTRIC RAILWAYS
64
[VOL. Lxxxvii.
R VERTON
EST PALMYRA
AME
HIL
NI
Pensaute4
COLLINGSWO
UTHBER
HA
DON Fl ELD
ORSTON
ESTVILL
NGTON
HTS
MAP SHOWING LINES OF
BELLMAW
ASHLAND
LAWNSIOE
000 BURY PARK
Public Service Corporation
of New Jersey.
MAGNOLIA
IN SOUTHERN NEW
SOMERDAL
GLENDORA
000 BURY
STRATFORD
PuaLIc
UNDER
.
KIRKWOOD
JERSEY.
SERVICELINES.
CONSTRUCTION.
PROPOSED EXTENSIONS.
LMONEssoN
U pE
MULLICA HILL ROAD
/WANO
CONNECTING LINES.
um
0
GARDEN LAKE
3
2
1
4
SCALE OF MILES
GOODINTENT
BLACKWOOD
CLEMENTON
NAH
GLEN LOCH
MANTUA
BERLIN
, To Mullica Hill
'.%z__ To
NORTH
5,263
scoTc
r?
PLA I N Fl E LD
0
CRAN,
3,600
GARWOOD
LAINS
561
GRAGELAND
WESTFIELD
JUNC.
ICTON
NETHERWOOD
5,616
WILLOW GROVE
DUN
LIE
317
RARITAN
3,944
ND BROOK
3,389
crAv 11.,z31 1
\FINDERNE
M ETUCH
RIVERSIDE
PARK
EN
1,907
FORDS
00NHAMTOLV1V
SEM:SUZY
PISCATAWAY
23,133
,•SAYREVILLE
MILLTOWN
1,210
AOPIN
HARDENBERO
CORNERS
SOUTH
RIVER
3,585
65
ELECTRIC RAILWAYS
SEPT., 1908].
Nu
"
FIE
PoiNT
NEW BRIDGE
TOTOWA
DUNDEE LAKE
ENGLEWOOD:
7,922 *
soGOTA
siNGAC
LiT i LE FALLS
\ A
NORTH
Re3erroir
PASSAIC
4.
mONTCLAIR
4/1,670
Verona
Lake
8 "L"
"
"
4
.
.393
"...RUTH E R FORD
16,370
GLEN
IDGE
2
2,
9
-1
AVONDALE
1
/ •
FIELD •
CLIFFSID
PARK
2,128
VIEW
•
KING,SLAND
•
WEST ORANGE
PARK
f, • 911
MC,5.,VERE
/LYNDHURST
GUT
• 7-\\_,
LLEWELLYN
7,872
PARK
50
.4
•••
443,
Lake-
Crust
VILLE
DOEFIELD'"
FL 145 ADC
HALFWAY
HO Li SE
5,218(
NUTLEY
4,556
LEO/NIA
cd,Tre
4,, TAYLOR
ALLINGTOI?
L .. LITTLE
tionoD
2,475
PASS
FERRY
* 7i1
BRi
1,772
/CARLSTADT
ARLTON
3,100
HILL
/EAST RUTHERFORD
3,165
ELAWAN NA
CEDAR
LOWELL
4b
11
4
.
.4
FIELD
92
CK50
1,6
S
HEAI GEIHRT01
H
37,837
MONTCLAIR
HEIGHTS
.483 g
•
°
.
**I
CLIFTON
CALDWELL
NORDKOFF%
(.522
BOGART
'HEIGHT
500
ER
•NORTH
'ARLINGTON
11,66/.
•,„. 408
WOO
0RA NCI
•
L I N GTON
TEA R N EY
VALLEY
VAlt,OURG
SOUTH ORANGE
4,932
MARiON
MAPLEWOO
IRVINGTON
7,180
HILTON
283,289
PAR KVICW
LAFAYETTE
WAVE
LYONS FARMS
RO
OSTRAN
A
PARK
0
36 PA-RN
2
LY
ETV YORK
60,509
ELIZABE
ROSELLE
ALDENE
2,142
S. ELIZABETH
ORT RI-6HMOND
5T.G CO AGE
H
8,649
AvENAL
WOO
SEW PREN
REACH
MAP SHOWING LINES OF
PERTH
A MBOY
5,895
TOTTENVILLE
SO
AM S
Public Service Corporation
of New Jersey.
in Northern New Jersey.
6,258
Public Service Lines
..
...Connecting Lines
SCALE OF MILES.
66
ELECTRIC RAILWAYS
MAUCH CHUNK, PA.
CARBON TRANSIT CO.-A trolley road.
ORGANIZATION.-Incorporated in 1908 as a reorganization of the
Carbon Street By. sold at foreclosure sale May 16 1908. Detalls of capitalization not yet available.
EARNINGS.-For fiscal year ending Oct. 31 1907, of Carbon Street Ry.,
gross, $35,044;for year ending Oct. 31 1906, gross, $37,554.
ROAD.-12 miles completed and in operation. 24 cars.
MEADVILLE, PA.
MEADVILLE St CAMBRIDGE SPRINGS Si REET RV.-An electric
road.
Default.-Serles B coupons of 1st ref. mtge. bonds are in default since
March 1 1906.
ORGANIZATION.-Ineorporated in Pennsylvania in 1901. Carries
passengers, mall and exnress.
STOCK AND BONDSDate.
Interest. Outstanding.
Maturity.
Stock, $300,000
_
$300,000
.
1st mort $300,000 ($500)1 1902
5 g J-D
300,000 July 1 1032
gold
c'JInt. at Equitable Trust Co., Pittsburgh, Tr.
First ref'g mtge $400,0001 1904
6 g M-S
$100,000 Mch 1 1934
($1,000) gold
c"lint. at Equit. Trust Co., Pittsb., trustee.
Bonds.-The $300,000 bends of 1902 are subject to call after 20 years at
105 and interest. The 1st ref. mtge. consists of $300,000 Series A 5 %
bonds, which are reserved for prior liens, and $100,000 Series B 6% bonds,
all of which are outstanding; sinking fund of $2,000 annually began Sept. 1
1907.
EARNINGS.-For year end. Dec. 31 1907, gross, $48,482; net, $23,746.
ROAD.-Operates 16.20 miles of track between Meadville and Cambridge Spring's, forming the connecting link between Mea ville and Erie.
773,6 and 85-1b. T rail. Commenced operating Jan. 15 1903
OFFICERS.-Pres., James Bryan, Pittsburgh; V.-P. and Sec., M. F.
Tennis,Pittsburgh; Treas„ E. H. Bair, Greensburg. Offices, Meadville,Pa.
1
MERIDIAN, MISS.
MERIDIAN LIGHT & RAILWAY CO.
ORGANIZATION.-Incorporated in Mississippi in 1901 as a reorganization of the Meridian Street By. Owns and operates the Meridian Gas Light
Co. Shareholders on June 1 1007 authorized an Increase in stock from
$1,000,000 to $2,000,000, to provide for extensions. V. 84, p. 1428.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$702,400
Common $1,500,000
163,300
Pref 6% non-cum $500,000_
5 g M-S
602,500 Mch 1 1944
Ref mtge $750,000 gold ($5001 1904
c•Unt. at City B'k and Tr. Co., Mobile, trustee.
and $1,000)
Bonds.-There were $225,000 of first 5s outstanding, but these (with
the exception of $1,000, for which a new bond is reserved) have been deposited as collateral for the new bonds. A sinking fund of 1% of bonds
outstanding becomes operative March 1 1906. Bonds are subjcet to call on
60 days' notice at 105.
EARNINGS.-Total gross for 12 months ending Dec. 311907, $208,278,
net, $78,795: interest and taxes, $50,460; surplus, $28,335.
ROAD.-10 miles of track. Electric department operates 200 city arcs,
18,000 Incandescent lamps, 90 h.p. motors and 120 commercial arc lights.
OFFICERS.-Pres. and Mgr., A. J. Paterson, Mobile; V.-P., W. H.
Armbrecht, Mobile; Sec. and Treas.,C.S. W.Price Jr.; Meridian; Gen. Mgr.,
A. B. Paterson.-V.75, p. 29; V. 78, p. 1109, 1223; V. 84, p. 1428.
.
CHICAGO LAKE SHORE & SOUTH BEND RY.
ORGANIZATION.-Organized in Indiana Dec. 1901.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$5,000,000
Common,$5,000,000 ($100)
1,000,000
Pref, $1,000,000($100),6%n-c
5 F-A15
3.500.000 Aug 15 1947
1st mtge,$6,000,000 ($1,000)1 1907
lInterest at Cleveland Trust Co., Trustee.
gold
6%
Equipment trust, $350,000 f 1908
350,000 See text
1Cleveland Trust Co., Cleveland, Trustee.
Bonds.-RemalnIng bonds are reserved for future extensions and improvements. They are subject to call at 102% • t any int. period. Slnkl
fund of $50,000 per annum began Aug.15 1907 for ten years, then 2% of
bonds outstanding until maturity. The equipment trusts cover 31 cars.
They mature $50,000 annually May 15 1910 to May 15 1916 inclusive.
ROAD.-Operates a total of 71 miles between South Bend, Michigan
City, Gary and Kensington, connecting at latter place with Illinois Central
for Chicago. 70-lb. T rail.
OFFICERS.-Pres., J. B. Hanna; V.-P., F. B. Wagner; Sec. and Treas.,
M. H. Wilson. Cleveland; Gen. Mgr., H. U. Wallace.-V.83, p. 212; V. 86,
p. 51, 167, 420, 1528.
MIDDLETOWN, N. Y.
10 1902 consolidated by purchase of entire capital stock with the Milford
Holliston & Framingham St. By. In 1907 the Milford Investment Co.
was organized to finance the floating indebtedness of the Milford F6 Uxbridge.
STOCK AND BONt.
tstanding. Maturity.
Stock $440,000 ($100)------- ---------------$440,000 1906-07,3%
M. Holl. & Fram. 1st mtge. 1898
5 g J-J
165,000 Jan 1 1918
$165,000 ($1,000) gold_ _c '' Int. at Amer. Trust Co., Boston, Trustee.
Milf. & Uxb. gold bonds 1902
5 g J-J
250,000 Jan 1 1918
$250,000 ($1,000) gold_ _Amer.
, Boston, Trustee.
Notes, payable Sept. 30 1907-------------------------191,500
EARNINGS.-For fiscal year end. Sept. 30 1907, gross, $178,871; net,
$59,314; fixed chgs., $41,666; div. (3%), $13,200; surplus, $4,448.
ROAD.-Owns 36 miles of track, from So. Framingham to Uxbridge and
from Milford to Medway and Hopkinton. Also controls Lake Nipanuc
Park. 43 passenger cars, 8 snow plows and 3 miscell.; 118 electric motors.
OFFICERS.-Pres., John T. Manson, New Haven, Conn.; V.-P., J. W1111q. Downs,New Haven;Treas.,J.E. Walker, Milford; Supt., W. L. Adams,
Milford, Mass.-V. 74, p. 1308; V. 76, p. 102.
MILLVILLE, N. J.
MILLVILLE TRACTION.-A trolley road.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock $175,000
$175,000
1st mortgage $400,000 gold), 1894
5 g F-A
208,000
1914
($1,000 each)
OfInt. at Land Title & Trust Co., Phila., trust.
"Other debts" Dec 31 1907
44,385
Bonds.-Not subject to call.
EARNINGS.-For calendar year 1907, gross, $37,187; net, $7.
ROAD.-Operates 12.55 miles of track in Millville, Vineland and township of Landis, of which 8.67 miles put in operation in 1901.
OFFICERS.-Pres., George Wood; Sec., G. H. Thomas; Treas., Daniel
C. Lewis.
MILWAUKEE, WIS.
c MEMPHIS, TENN.
MEMPHIS STREET RAILWAY CO.
Control is held by the American Cities Railway & Light Co., which see
under Birmingham.
ORGANIZATION -Chartered In Tennessee on March 28 1895 and'consolidated with the Citizens' St., East End St., City (Ss Suburban and Memphis & Raleigh Springs lines; franchises run until Nov. 1945. Does the
entire street railway business of the city. Isidore Newman & Son of New
York and New Orleans are fiscal agents.
Decision as to Fares.-On Sept. 7 1907 the Supreme Court of Tennessee
rendered a decision confirming all terms of franchises. V. 85. p. 654.
Interest. Outstanding. Maturity.
STOCK AND BONDSDate.
Com.,$2,500,000($100) .... --$2,500,000
--- --Pref. $2,500,000 5%, eum„)
2,500,000 Jiy'08,1 X%
5 Q-J
$100
7,094.000 July 1 1945
Cons. mtg.. $10,000,000, 11005
5 g J-J
gold (see text)
c*&r 1 interest at CertralTrust Co.,N. Y. Trustee.
$906,000 Jan. 1 1916
6 g J-J
Cita. St. RR. let Si. ($1,000)1 1887
gold, no s f, not red
c"{ Int. at Am. Ex. Nat. 13k. of N. Y. and in
Memphis, Tenn.
Bonds.-01 the $10,000,000 new bonds, $906,000 are reserved to retire
Cit. St. RR. bonds and remainder for extensions and improvements. They
are in denominations of $1,000 coupon and $10,000 registered. Are not
subject to call. Sinking fund $25,000 per annum, 1910-14; $30,000,
1915-19; $35,000, 1920-24; $40,000, 1925-29, and $50,000, 1930-45. Bonds
In sink, fund are kept alive. See V. 82, p. 628, 1496.
Dividends.-On pref. stock 5% paid since Issuance up to and including
July 1908.
REPORT.-For year ending Dec. 31:
Gross earns. Net after taxes. Interest.
Surplus
$597,233
$1,604,384
$404,822
$192,411
1907
590,707
342,782
1,428,935
247,925
1906
461,472
1,114,022
274,893
186,579
1905
437,035
265,427
981,259
171,608
1904
388.655
898.178
258,145
130,510
1903
ROAD.-Operates 110 mlles of track in Memphis and suburbs. Rails 60
cars.
294
to 80-1b. T and 60 to 107-lb. girder.
OFFICERS.-Pres. and Gen. Mgr., Thos. H. Tutwiler; V.-P., John H.
Watkins; Sec. and Treas., W. H. Burroughs.-V.85, p. 654.
MICHIGAN CITY, IND,
MILWAUKEE LIGHT. HEAT & TRACTION CO.-Incorporated
Dec. 1896. Owns and operates an extensive system of suburban and Interurban lines radiating from Milwaukee to Cudahy, South Milwaukee, Racine,
Kenosha, Wauwatosa, North Milwaukee, Whitefish Bay. Fox Point, West
Allis, Waukesha, Waukesha Beach, Oconomowoc, Watertown, Muskego
Lakes, Mukwonago and East Troy.
The company, besides its railway system, owns and operates electriclight and power systems in Cudahy, South Milwaukee, Racine, Wauwatosa,
West Milwaukee and West Allis. Was furnishing Dec. 31 1907 42,268
incandescent lamps, 1065 h.p. In motors, 452 arc lamps and 619 Nernst
lamp glowers.
The capital stock is practically
. all owned by The North, American Co.
(see miscellaneous companies in 'Railway and Industrial' Section). In
April 1907 stockholders voted to increase stock from $1,000,000 to $30,000,000. V. 85, p. 160. $9,000,000 of new stock Issued up to Sept. 1908.
Control Purchased.-In 1907 purchased the $9,000,000 common stock of
The Milwaukee Electric By. & Lt. Co. from The North American Co.
This was done in order to make Mil. Light, Heat & Traction Co. the
controlling company instead of The Milwaukee Elec. By. & Lt. Co., as
was formerly the case. V. 86, p. 286.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Common stock,
_ _
$10,000,000
See text.
Milw Lt H and Tr
Co 1st M gI 1899
$30,000,000_5g M-N
5,000,000 May 1 1929
guar$5,000,000 ($1,000) gc* Trust Co. of America, New York, Trustee.
3111w Lt 11 and Tr Co ref&extf 1907
5 g J-D
6,189,000 June 1 1937
M g $30,000,000 ($1,000) _ }Metropolitan Tr. Co., N. Y., and Randolph
1 Rodman, Trus. Int. at co's N. Y. office.
Interest on the Milwaukee Light, Heat Fc Traction Co's 1899 5% bonds
is payable at company's office, 30 Broad St., N. Y. These bonds may be
called at 110 on any interest date. They are guaranteed, principal and
Interest, by endorsement. by The Milwaukee Electric Railway & Light Co.
(V. 86, p. 1042). Of the new refunding and extension bonds, $2,500,000
additional can be issued immediately, and in June 1908 Wisconsin State RR.
Commission authorized company to issue this amount. This will raise
outstanding amount to $7,500,000; up to Sept. 1908 $1,189,000 of $2,500,000 had been Issued. $5,500,000 is held to retire prior liens. These bonds
may be called on any Int. day at 110 and Int. V. 84,p. 1183. First $13,000,000 are to bear 5% Interest and remaining $17,000,000 not over 5%.
Dividends.-10% per annum paid from 1904 to 1907; in 1907, 2%.
ROAD.-Total mileage, exclusive of controlled Milw. Elec. By. & Lt. Co..
was Ji ly 31 1908 193 mlies. 80-1b. T rail. owns 115 cats.
REPORT.-Fiscal year ending Dec. 31 1907:
Gross-Railway
$704,557 Other income
$1,147
Electric light
"
121,573 Taxes
49,568
1Depreciation
74,352
Total gross,
$826,130 Interest
291,998
Oper.exp.-By.& elec. light 359,441 Balance, surplus
51,918
Net earnings
$466,689
OFFICERS.-Pres., Gen. Mgr. and Pur. Agt., John I. Beggs; V.-Ps.,
Wm. N. Cromwell, C. W. Wetmore and Chas. F. Pfister; Sec., Silas W.
Burt, New York; Trans., Geo. R. Sheldon, New York; Comp. C. N. Duffy;
Asst. Sec. and Asst. Treas., F. J. Boehm; Aud., Geo. W. lealweit. New
York office, 30 Broad St., New York City. General office, Public Service
Building, Milwaukee.-V. 85, p. 160; V. 88, p. 286, 1042, 1529.
(1) The Milwaukee Electric Railway & Light Co.
ORGANIZATION.-Successor of Milwaukee Street Ry. Co. Jan. 29 1896,
per plan in V.60, p. 1009. Embraces all the street railway lines in Milwaukee. Entire common stock Is owned by the Milwaukee Light, Heat &
Traction Co. The company, besides Its street railway system, owns and
operates an electric-light and power system. Was furnishing on Dec. 31
1907 242,977 Incandescent lamps, 10,069 h. p. In motors, 3,719 arc lights
and 5,802 Nernst lamp glowers. Controls Milwaukee Central Heating Co.,
operating a central-station steam-heat system in Milwaukee.
The railway franchises of the company run until Dec. 31 1934. V. 70,
p. 39. Electric light and power franchises are unlimited in time.
In April 1907 stockholders voted to increase the capital stock from $19,500,000 to $24,500,000. See V. 84, p. 102, 221, 339; V. 85, p. 160.
Decision.-The Wisconsin Supreme Court June 5 1908, reversing the lower
co, rt, dismissed action bro ght by Attorney-General Gilbert for removal
of officers of company for alleged wasteful use of money in securing extension of company's franchises in 1900. See V. 86, p. 1467.
Interest. Outstanding. Maturity.
STOCK AND BONDS- • Date.
$9,000,000Ap.30'08 ,134
Common stock $20,000,000
(par $100)
Q-F
Preferred stock $4,500,000 __-4,500,000J' y31'08 1 Yi
6% non-cum (par $100)- _
5 g J-D
Milw City RR Co 1st mtge,41 1888
1,000,000 Dec 1 1908
, $1,000,000 gold
c* Central Trust Co., N. Y. City, is Trustee.
5 g J-J
West Side St RR 1st M,coy- 1889
000,000 July 1 1909
ers 18 miles,$500,000 gold_ Int. at Farmers' L. & Tr. Co., New York.
5 g F-A
The Milw El By & Lt Co cons 1896
6,500,000 Feb 1 1926
mtge $8,000,000 gold__ _c* Central Trust Co., New York, Trustee.
Interest payable at company's office, 30 Broad St., N. Y.
4 g J-J
The Mil El By & Lt Co ref F6) 1906
4,608,000 Jan 11031
ext mtge $20,000,000 gold }Trust Company of America, New York,
($1,000)
c*J1 Trustee.
Stock and Bonds.-Consols of 1896 for $1,500,000 are reserved for prior
bonds still outstanding. These bonds and also the preferred stock are
listed on the New York Stock Exchange. Of the new refunding and extension bonds, $8,000,000 are reserved for prior liens and $7,392,000 for extensions, acquisitions, &c., at not exceeding $1,000,000 per year. Bonds are
subject to call on and after Jan. 1 1916 at 108 and Interest. See V. 81,
p. 1724, 1792; V. 84, p. 508.
ROAD.-Total track, 132 miles-all trolley. Owns 398 cars.
ANNUAL REPORT.-Fiscal years ending Dec. 31:
Calendar Year1905.
1904.
1907.
1906.
Gross railway
$3,221,912 $2,973,443 $2,669,847 $2,698,641
Lighting, &c
556,688
549,995
520,054
601,470
WALLKILL TRANSIT CO.
ORGANIZATION.-Incorporated in New York on March 30 1905 as
successor, under foreclosure, to the Middletown-Goshen Electric By. and the
Middletown-Bloomsburg Elec. By. See V. 80, p. 1059, 1425.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
$320,750
Stock $350,000 ($50)
1st mtge $350,000 gold ($100,f 1905
5 g M-N
300,000 May 1 1935
$500 and $1,000)
elInt. at Com'w'IthTr.Co.,Harrisburg,Trustee.
Bonds.-$.50,000 reserved for future improvements. Are subject to call
after 10 years at 105.
ROAD.-Operates 12.84 miles of track extending from Middletown,
N. Y. to Midway Park, Goshen, including switches, turnouts, &c. Rails
T except M mile only of 80-lb. girder. Standard gauge.
65-lb.'
OFFICERS.
-Pres., E. R. Sponslor; V.-P., H. B. Royce; Sec.W. H.
Gross earnings
Sponsior; Treas., W. M. Oglesby; Gen. Mgr., De Witt C. McMo.nagh.- Operating expenses
V. 80, p. 998, 1059, 1425, 2346.
Net earnings
MILFORD, MASS.
Other income
MILFORD & UXBRIDGE STREET RY.-Trolley.
ORGANIZATION.-Incorporated in Massachusetts in 1901. On July
Total
[VOL. Lxxxvii.
$3,823,382 $3,523,438
1,734,587
1,974,721
$3,226,535
1,551,463
$3,218,695
1,592,413
$1,848,661
83,283
$1,788,851
155,791
$1.675,072
122,161
$1,620,282
66,683
$1,931,944
$1,944,642
$1,797,233
$1,692,965
SEPT., 1 4118.]
ELECTRIC RAILWAYS
Out of the net of $1,931,944 for 1907, $229,403 was paid for taxes, $382,338 reserved for depreciation, $572,863 paid for interest, $270,000 for
pref. dividends (6%) and $540,000 for common dividends(13%), leaving
a deficit of $62,660.
Dividend.-Regular quarterly dividends of 1 A % have been paid on the
preferred since Feb. 1900. On the common stock in 1903, 4%; in 1904
n%; In 1Juo, a',,,; in 19J6, 6%; In 1J,., i, o;b. in 1008, Jan., 1 A ',0; Apr.,
1 A %.
OFFICERS.-Same as the Milwaukee Heat, Light & Traction Co.
New York office, 30 Broad Street, New York City. General office, Public
Service Building, Milwaukee.-V. 85, p. 160; V. 86, p. 282, 286.
-
WISCONSIN TRACTION. LIGHT, HEAT & POWER CO.-
ORGANIZATION.-This company was incorporated at Milwaukee in
Aug. 1900 with a nominal capital of $10,000 (since increased to $1,000,000),
for the p rpose of uniting certain properties in the Fox River Valley.
Secured control of the Fox River Valley Electric Ry. and the Appleton
Electric Light ec Power Co., and has consolidated them. In Sept. 1904
purchased entire capital stock of the Fox River Valley Gas & Electric Light
Co. and guarantees its bonds, principal and interest. See V. 79, p. 787.
1267.
Date.
STOCK AND BONDSInterest. Outstanding. Maturity.
Stock, $1,000,000 ($100)_
$699,400
First mortgage, $3,000,000 1 1901
5 g J-J
1,000,000 July 1 1931
($1,000) gold no sink fd_c* Int. at Milwaukee Trust Co., Milw., Trustee.
5 g A-0
Fox River Valley first mtge 1901
350,000 April 1 1921
$350,000 ($1,000) gold_ _ _c Merchants' Loan & Trust Co., Chic.,Trustee.
Appleton Gas Light do Fuel.._
6
15,000 Nov. 1 1914
Bonds.-Entlre issue of Wisconsin Traction, Light , Heat &Power Co.
bonds may be called on any interest date at 110 and interest. The Fox
River Valley bonds are subject to call after April 1 1911 at 105 and interest,
EARNINGS.-For year ending Dec. 31 1907, gross, $246,452; net.
$125,297; fixed charges, $91,580; surplus, $33,717.
ROAD.-Operates 15 miles of track, connecting Neenah, Menasha, Appleton and Kaukana,and 5 miles locally in the city of Appleton; total, 20 miles.
Owns electric-lighting plants in Appleton, Neenah and Menasha and supplies
gas to Neenah, Menasha and Appleton.
OFFICERS.-Pres.. John I. Beggs; V.-P., Chas. F. Pfister. Milwaukee
Sec. and Treas., Henry D. Smith, First National Bank Building, Appleton,
Wis.-V, 79, D. 787. 1267.
MILWAUKEE NORTHERN RV.-An electric road.
ORGANIZATION.-Incorporated in Wisconsin in 1905. Operates
mostly on private right of way. Franchise in Milwaukee runs till 1937
and provides that 8 tickets be sold for a quarter within city limits.
Interest. Outstanding. Maturity.
STOCK AND BONDS.Date.
$1,000,000
Stock $1,000,000 ($100)- - 2,500,000 Aug 1 1937
5 g F-A
1st mtge $4,000,000 ($1,000) 1 1907
c*JInt. at Fidelity Trust Co., Milw.. trustee.
gold
Bonds.-Remaining $1,500,000 can be issued when road is completed to
Fond du Lac. Not subject to call. V.85, p. 601.
ROAD.-Will be 120 miles long, running north from Milwaukee to Cedarburw. where it forks, one branch extending to Sheboygan and the other
to Fond du Lac. Road is completed between Milwaukee, Cedarburg and
Sheboygan. The Fond du Lac Division It is planned to complete in
1909. Gauge, 4 ft. 831 in. 70-lb. T rail.
OFFICERS.-Pres., Wm. A Comstock; V.-P., F. W. Walker; Sec. and
Treas., Henry A. Haigh; Gen. Mgr., F. W. Walker; Aud., B. G. Broad.V. 84, p. 1367, 1428; V 85, p. 601.
MINNEAPOLIS, MINN.
TWIN CITY RAPID TRANSIT.-An electric road.
-
ORGANIZATION.-Organized under the laws of the State of New Jersey
June 3 1891 and by virtue of its stock ownership of the underlying companies (to wit, The Minneapolis Street Railway Co., The St. Paul City Railway Co., the Minneapolis Lyndaie & Minnetonka Railway Co. and the
Minneapolis & St. Paul Suburban) controls and operates the entire street
railway system or Minneapolis, St. Paul, Stillwater, and lines to Excelsior,
Tonka Bay and Deephaven at Lake Minnetonka. In 1906 absorbed the
North Side Street Ry. (Robbinsdale line) and the St. Louts Park line.
V.83, p. 1472. On May 31 1905 stockholders authorized an increase in the
capital stock from $20,000,000 to $25,000,000, the new stock to be all
common. At the same time the articles of incorporation were amended
so as to make the charter perpetual. V. 80, p. 1914.
Franchise and Fares.-Mayor Hayes of Minneapolis on Feb.18 1907 signed
an ordinance requiring street railways to sell six fares for 25 cents. V. 84, p.
451, 509. On Aug. 24 1907, however, Judge Lochren of the U. S. Circuit
Court granted a permanent injunction against enforcing the ordinance (see
V. 85 p. 532). This decision is claimed to sustain the company's right to a
50-year franchise from July 1 1873.
Settlement with City of St. Paul.-For decision as to right to build new
lines in St. Paul, see V. 79, p. 271, 2037, and for settlement with City of St
Paul by which the city relinquishes its right of appeal from this decision and
the company agrees to pay into the city treasury a gross earnings tax of 6 %,
see V. 80. p. 1175.
Data.
Interest. Outstanding. Maturity.
STOCK AND BONDS-Twin City Rapid TransitCommon stock, $22,000,5 Q-F
$20,100,000 Aug15'081 X
000 (par $100)
Preferred stock, cumulative
1895
$3,000,000 ($100)
7 Q-J
3,000,000 Oct '08,131
Minneapolis Street Rallway Co.110,000 Nov. 1 1910
7 g M-N
1st M g red at 105 yearly . 1880
6 g M-N
600,000 Nov. 1 1913
Second mtge gold
0&r 1883
First cons Mg 65,000,000 c' 1889
5 g J-J 15 4,208,000 Jan.15 1919
St. Paul City Railway Co.224,000 April 1 1932
6 g A-0
First mtge on real estate doj 1882
1Exchangeable at 105 for first consolidated.
horse-car franchise
456,000 Oct. 1 1934
1884
6 g A-0
First consol mtge gold
Cab cons gold (see text) _ .. _ 1887
5 g J-J 15 3,708,000 Jan. 15 1937
Minneapolis de St. Paul Suburban fly.500,000 Sept. 1 1924
5 g M-S
1st M g $500,000, guar by) 1899
Tw Cy R T & St P Cy_elInterest at Central Trust Co., N. Y., Trustee.
Minn St. et St. Paul City fly.656,000 Jan. 1 1911
Joint issue general mort 1901
5 g J-J
$1,000,000 ($1,000) g__c Int. payable at Central Tr. Co., N. y., Trims.
8,718,000 Oct. 1 1928
ii g A-0
Joint consol mtge $10,000,- 1903
000($1.000)gu p & i_c• Central Trust Co. of New York, Trustee.
All bonds are for $1,000 each, and, with the exception of the Minneapolis
& St. Paul Suburban Ry. and the two joint issues (of 1901 and 1903),
Interest is payable at Farmers' Loan & Trust Co.. New York.
Stoek.-ln May 1902 stockholders were given at par $1,501,000 additional
stock (V. 74, p. 1039), in June 1905 $1,000,000 at par (see V. 80, p. 2400),
and in June 1906 $2,100,000 at par (see V. 82, p. 1269). This last makes
outstanding stock $20,100,000.
Dividends -All dividends on preferred to and including 0:1 1 1008
(131 %) have been paid. First dividend of 1 % was paid on the common
stock in Aug. 1899; in 1900, 3%; in 1901, 3 A %; in 1902, Feb., 2%;
changed to quarterly and 1 A % paid May 1902; Aug., 134 %; Nov., 1 h %;
In 1903, 5 %; In 1904.5%; In 1905.5%; In 1906, 5%;In 1907, 5 %; In 1908,
Feb., 131 %; May, 131 %; Aug., 131 %.
Bonds.-The Minneapolis Street Itatly;ay Co. jointly and severally with
the Minneapolis I.yndale & Minnetonka Railway Co., issued $5,000,000 5%
30-year first mortgage and first consolidated mortgage gold bonds, of which
$710,000 are held in trust by the Farmers' Loan & Trust Company to
redeem the $710,000 prior lien bonds. See statement to New York Stock
Exchange in June 1895. The consols are also listed in London. V.60,p.1149.
The St. Paul City Railway Co. has issued $4.383,000 5% 50-year cable,consolidated bonds (including $680.000 held by the Farmers' Loan & Trust Co.,
trustee, to redeem the $680,000 prior lien bonds above); limit fixed by this
mortgage was $5,500,009, but by the joint consolidated mortgage of 1903
no further underlying bonds can be put out. V.77, p. 2281. Part of these
cable consols ($1,138,000 at latest date) are guaranteed, principal and interest, by endorsement of Twin City Rapid Transit Co. See statement to
New York Stock Exchange In June 1895. V.60, p. 1150. Of the first consolidated mortgage of the St. Paul City, $224,000 were held Jan. 1902 by.the
Farmers' Loan do Tr.Co. to be exchanged for the $224,000 first mtge.bonds.
The Minneapolis Street Ry. & St. Paul City Ry, consolidated mortgage of
1903 is a joint issue of the Minneapolis Street Ry.and the St.Paul City By.
$3,500,000 were to reimburse Twin City Rapid Transit Co in pelt for expenditures made for additions to roads, plants and equipntent. $1,000,000
were reserved ($344,000 of this amount have been issued) to retire the joint
general mortgage of 1901, which the new mortgage binds the company to
pay at maturity. Rest reserved for new construction, additions and im-
67
provements at 90% of cost. Guaranteed as to principal and interest by
endorsement by Twin City Rap. 'Fran. Co. (see V. 77, p. 2281 and 2340).
No underlying bonds can be extended, but must be paid off at maturity.
ROAD.-Consists of 363.87 miles of standard-gauge road, including three
interurban lines connecting the business centres of Minneapolis and St. Paul,
an interurban line of 22 miles connecting St.Paul and Stillwater, and lines
to Lake Minnetonka.
On the principal streets of the cities 90-lb. T rail with welded joints and
imbedded in concrete was used.
Power.-The company leases water-power at St. Anthony's Falls (capacity 10,000 b.-p.), which power is now used in conjunction with power
generated at new steam power plant to run the entire railway system in
both cities. See V. 64, p. 704.
LATEST EARNINGS.-For 7 months ending July 31 1908, gross,
$3,589,223; net, $1,775,494; charges, $877,789; surplus, $897,705; in
1907, gross, $3,420,600; net, $1,752,221; charges, $806,458; surplus,
$945,763.
ANNUAL REPORr.-Fiscal year ends Dec..11, Report for 1907 was in
V. 86, p. 599, showing results on the entire property as follows:
1907.
1906.
1905.
Receipts front passengers
6,020,542 $5,592,079 $4,733,335
Receipts from other sources
35,201
52,909
25,927
Total receipts
Operating expenses
Insurance
Injuries and damages
Total operating
Net earnings
Interest and taxes
Dividends on preferred stock (7%)
Dividends on common stock (5 %)
Total
Balance, surplus
$6,055,743 $5,644,988
2,729,304 $2,424,857
48,000
48,000
203,132
202,522
$4,759.262
$1,948,197
48 000
122,948
$2,980,436
$2,675,379
$2,119,145
$3,075,307
$1,223,171
210,000
_ 1,000 000
$2,969,609
$1,137,427
210,000
952,500
$2,640,117
$1,050,797
210,000
881,388
$2,438,171
*$637,136
$2.299,927
*$669,682
$2,142,185
*$497,932
* In 1907. $506,000 was appropriated from this amount for renewal funds
against $482,000 in 1906 and $340,000 in 1905.
OFFICERS.-Pres.,Thomas Lowry; V.-P. and Man. Direc., C. G. Goodrich; Sec. and Comp., E. S. Pattee: Aud., D. J. Strouse; Treas., E A.
Crosby; Gen. Mgr., W. J. Heild.-V. 86, p. 287, 422, 599.
MOBILE, ALA.
MOBILE LIGHT & RAILROAD.-Trolley.
ORGANIZATION.-A consolidation on Sept. 1 1901 of the Mobile Light
do Railroad and the Mobile Street RR.; the franchises of both companies
were extended on Sept. 12 1901 to March 12 1055. See V. 73, p. 616
STOCK AND BONDSDate.
Interest. Outstanding, Maturity.
Stock, $2,250,000 (par $100)__
.
First mortgage gold ($1,000).)1897
5
400,000 July 1 1937
Int. at Farmers Loan ec Trust Co., N. Y.
Mobile Street RR first mtgef 1893
6 g M-N
300,000 May 1 1923
gold, $350,000
es Farmers' I.oan & Trust Co., N. Y., Trustee.
(Interest at National City Bank, New York.
Consolidated mortgage, gold' 1901
5 g M-S
1,381,000 Sept. 1 1941
($1,000) $2,250,000_OlInterest at New York Trust Co., N. Y., Trus.
Bonds.-Of the $2,25-1,000 mortgage, $700,000 reserved for prior liens;
$69,000 are in treasury of company.
EARNINGS.-For calendar year 1907. gross, $614,744; in 1906, gross,
$554,471.
ROAD, &c.-Owns 58.19 miles of track in Mobile and extensions to Magazine Point, Spring Hill, NV histler and Monroe Park. Company also owns
"Monroe Park" and water power and 320 acres of land.
OFFICERS.-Pres., J. H. Wilson; Sec. and Aud., Lloyd Lyon; Treas.,
C. White Spunner; Gen. Mgr., W.A. Haller.-V.86, p. 1529.
-----$2,250,000
MONMOUTH, ILL,
ROCK ISLAND SOUTHERN RAILROAD CO.-An
electric and steam
road.
ORGANIZATION.-Incorporated in Illinois under the steam railroad
law on April 25 1905. Has private right of way between cities.
STOCK AND BONDS.Date.
Interest. Outstanding. Maturity.
Stock, $3,000,000_
$500,000
1st mtge $2,500,000 goldl 1907
5 g J-J
400,000 Jan 1 1947
'Int. at Amer. Tr. & Say. 13k. Chicago, Trims.
($1,000) _
Bonds.-Additional bonds may be issued only for 60% of cost of property
during construction and 25% additional when net earnings ate 13i times
interest on bonds issued and to be issued. Bonds are subject to call after
5 years at 105 and interest. See V. 84, p. 104.
ROAD -Is building a road to connect Monmouth, Galesburg, Moline and
Rock Island. The section from Monmouth to Galesbunr. 16 miles, has
been completed. In Aug. 1908 made a contract with Rock Island Co.
for a lease of 20 miles of their road to Reynold, including terminals. Remainder of road to Monmouth or Galesburg, to be built immediately.
75-lb. rails. Is operated by electricity for passengers and by steam for
freight.
OFFICERS.-Pres., M. A. Walsh. V. 84, p. 52, 104.
MONTGOMERY, ALA.
MONTGOMERY TRACTION CO.-A trolley road
ORGANIZATION.-Incorporated in Alabama. Is a consolidation on
April 13 1906 of the old Montgomery Traction Co., the Montgomery Street
Ry. and the Suburban By. Co. V. 82, p. 929. Was granted a new franchise in April 1906. V. 82, p. 929.
Date.
Interest. Outstanding, Maturity.
STOCK AND BONDS.Stock $2,000,000 ($100)_
$2,000,000
1st mtge $2,000,000 ($1,000) 1905
5 g A-0
1,540,000 April 1 1955
gold sinking fund
c* Int. at Real Est. Trust Co., Phila., Trustee
Mont, Street Ry 1st mtgel 1893
6 g F-A
350,000
1923
$350,000 gold
Int. at Farmers L. & T. Co., N. Y., Trustee.
Bonds.--Of the Mont. Trac. Co., bonds, $350,000 are reserved for prior
liens. A sinking fund of 1% of bonds outstanding commences in 1911 and
runs to 1920, thereafter 2% per annum. Bonds are not subject to call.
ROAD.- Operates about 41 miles of track in Montgomery and to Pickett
Springs. Standard gauge; 70-lb. T and 95 lb. girder rail.
OFFICERS.-Pres., R. D. Apperson, Lynchburg; V.-P. and Treas..
Chas. R. Miller, Phila.; Sec., D. B. C. Catherwood.-V. 81, p. 1792;
V. 82, p. 929.
MORRISTOWN, N. J.
MORRIS COUNTY TRACTION.-An electric road.
ORGANIZATION.-Incorporated in New Jersey in 1899. Charter
gives company right of eminent domain. Built mostly on private right of
way. Franchises through towns are perpetual.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
$832,500
Stock. com, $3,000,000 ($100)
1st mtge,$3,000,000 ($1,000)1 1905
5 g J-D15 1,432,000 June15 1935
gold
cs&r1Trust Co. of America, N. Y., Trustee.
Int. at Nat. Iron Bank. Morristown.
Bonds.-Are subject to call at 110 and interest.
EARNINGS.-For calendar year 1907, gross, $67,092; net, $20,128; In
1906, gross, $51,048; net, $28,138.
ROAD.--Is to build 75 miles of road from Elizabeth, N. J., to Netcong,
with a branch from Denville to Paterson and other branches. Thirty miles
of road has been completed and 15 miles are being operated. Gauge, 4 ft.
831 in. 70.1b. T rail in country, 80-1b. girder in cities.
OFFICERS.-Pres., F. H. Alleman; V -P., Theodore F. Lozier; Sec. and
Treas., A. W. Dunkle.
MOUNT HOLLY, N. J.
BURLINGTON COUNTY K AI LW AY CO.-Trolley.
ORGANIZATION.-Is a consolidation in August 1904 of the Burlington
County_ Traction Co., the Mount Holly Street By. and the People's Traction
Co. V. 79, p. 785. Franchises are for 99 years from 1902
STOCK AND BONDS.Date.
Interest. Outstanding. maturity.
Steck $550,000 ($100)
$484,790
5 g M-S
1st mtge $550,000 gold ($5001 1904
475,000 Sept 1 1934
and $1,000),......c*fInt. at Mt. Holly S. D. & Trust Co., Trustee
68
ELECTRIC RAILWAYS
Bonds.-$75,000 reserved for extensions. Bonds are not subject to call.
V. 74, P. 1307.
EARNINGS.-For calendar year 1907, gross, $55,045; net, $8,190; in
1906, gross, $62,798; net. $15.858.
ROAD.-1
,bout 15 miles of track from Burlington. through Mt. Holly
and Halnesport, to Moorestown.
OFFICERS.-Pres., H. M. Bougher, Phila.; V.-P., Wm. C. Parry,
Hamesport, N. J.; Sec., John S. Gilbert, Hainesport, N. J.; Treas.. Wm.
Kuemmerle Jr., Phila.-N. 74, p. 1138:'ti. 70,p. 785. 2146
MUSCATINE, IOWA.
MUSCATIN E LIan r & TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated in New Jersey on Aug. 20 1906, and
controls the Citizens' By. do Light Co. (Incorporated April 1902), which
mtnatnin
ec
ntcrgs-ellsgh
dusltrle9
19railway business of the city.
er
8a3tes tlie17/as,Ala
vSTOCPE. A ND BONDS.-
Interest. Outstanding. Maturity.
Date.
Stock $600,000($100)_
$690,000
Citizens' Railway & Light 1st) 1902
5 g A-0
368,000 April 1 1917
mortgage $400,000 gold Int. at Cleveland Trust Co.. Cleveland,
c*) Trustee, ot at Nat. Bk. of Commerce, N Y.
($500)
mortgage
$1,000,0001 1906
New
5 g M-S
425,000 Sept 1 1926
c*)Int. at Mich. Tr. Co., Grand Rapids,Trustee.
gold ($1 000)
Bonds.-Of the new $1,000,000 issue, $400,000 are reserved for prior lien
and $175,000 for future improvements. They are subject to call at any
time at 105 and interest. See V.83, p. 1171. The Cit. Ry. & Lt. Co. bonds
are subject to call on any interest date at 110 and interest. A sinking fund,
commencing in 1907, consists of a sum sufficient to retire $15,000 bonds
yearlyjat 105 and interest; $32,000 retired to date.
EARNINGS.-For calendar year 1907, gross, $142,293; net $47,104
• ROAD.-Operates 12 miles of track. 70-1b. T rail. Standard gauge.
36 cars, 26 motor and 10 trail. Owns 25 miles of gas mains and 35 miles
of electric-light lines.
OFFICERS.--Pres., Ernest A. Stowe; V.-P., W. H. Gay; Sec., Howard
A. Thornton; Treas., Ralph S. Child; Mgr., E. M. Walker.-V.85, p. 40.
MUSKOGEE
OKLA.
MUSKOGEE ELECTRIC TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated in 1904 in Indian Territory.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
Stock $245,800 ($100)$245,800
1st mtge $500,000 gold ($500 1 1905
5 g A-0
250,000
1925
& $1,000) red 1915 at 1050!Int. at Colonial Trust Co., N. Y., trustee.
ROAD.-Operates 14 miles in and around Muskogee. Standard gauge,
70 and 60-1b. T rail.
OFFICERS.-Pres. and Gen. Mgr., Willis E. Fertig; V.-P., R. D.
Benson; Sec. & Treas., N. A. Gibson; Supt., R. D. Long.
MUSKEGON, MICH.
MUSKEGON TRACTION EC LIGHTING CO.In Jan. 1006 entire stock was acquired by the American Light & Traction
Co. V. 82, p. 49.
ORGANIZATION.-Incorporated in Michigan on March 1 1901, and is
a consolidation of the street railway, electric light and gas companies of
the city. Has 10-year contract from 1901 for city street lights. In Dec.
1905 street railway franchise extended until Jan. 19 1931 and the gas
franchise for 5 years. See V. 81, p. 1724.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSStock $600,000($100)$600,000
6
Preferred $100,000 6% cum__ ----63,000
See text
5 g M-S
600,000 Mch 1 1931
First mortgage $600,000 gold{ 1901
Interest at Wyoming Valley Trust Co.,
($1,000)
Wilkes-Barre, Pa., Trustee.
.
Bonds.-May be called after ten years at 105.
Dividends.-On pref. stock in 1902, 6%; in 1903, 6%; in 1904, 6%; In
1905, 6%; in 1908, 6%; in 1907, 6%.
ROAD.-Owns 15 miles of road and serves as a terminal for the Grand
Rapids Grand Haven & Muskegon By., which operates 40 miles of track
between points indicated In the title.
OFFICERS.-Pres., H. C. Abell; V.-P., Emerson McMillin; Sec. and
Treas., David D. Erwin, Muskegon.-V. 81, p. 1724; V. 82, p. 49.
NASHVILLE, TENN.
NASHVILLE RAILWAY & LIGHT CO.-Street railway and lighting
VoL. Lxxxvii.
STOCK AND BONDSDate.
Interest. Outstanding. MaturitY•
Stock, $456,700 ($100)
$456,700
So. Lt. & Tract.1st m $500,-) 1903 5 g A-015
335,000 Apr 15 1933
000 g ($1,000)
c* }Int. at Inter-State Tr. & Bkg. Co., New
)Orleans, Trustee, or at First Nat. Bk., N. Y.
Bonds.-$160.000 are reserved for betterments and extensions. Are subject to call,on or after April 15 1906 at 105 and interest. $5,000 have been
retired. See V. 76, p. 1086.
EARNINGS.-For 12 months ending June 30 1908: Gross, $126,786;
net, $41.565.
ROAD.-Operates about 7 miles of track.
OFFICERS.-Pres., L. B. Dinkins, New Otleans; V.-P., Sol. WeT,Ier,
New Orleans; Sec., Alex, Allison, New Orleans; Treas., A. G. Campbell,
Natchez.-V. 86, p. 1591.
NAZARETH, PA.
SLATE BELT ELECTRIC STREEr R Y.-A trolley road.
Company is undergoing a reorganization, particulars of which are not
yet available.
ORGANIZATION.-Incorpotated In Pennsylvania on Feb 14 1509.
Was formerly leased to the Lehigh Valley Traction Co.. but lease canceled
on May 10 1904, owing to default in payment of rental. In July 1908
made operating agreement with Lehigh Valley Transit Co. for joint operation of line between Bethlehem, Nazareth and Bangor.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
Stock $360,000 ($50)
1st mortgage $360,000 goldl 189P.
5 g 1)
$3
360
9;0
00
08
($1,000) .
_ ..c&rjInt. at I.ehigh Val. Tr.&S.D.Co.,Alle1n9t2
.0
,'Jr.
Bonus,--Are
to call alter 5 years at 105.
EARNINGS -For fiscal year ending May 30 1007, gross. $62,544.
ROAD.-Operates 18 miles of track from Nazareth to Bangor. 67-1b.
rails. 11 cars.
OFFICERS.-Pres.,('-'eorge K. Mosser; Sec.. Hubert E. Rogers; Treas.,
Walter M. Keck; Gen. Mgr., Dennis Gerberich.
NEWARK, N. J.
PUBLIC SERVICE CORPORATION OF N.J.-Street railway, gas and
electric.-(See map on pages 84 and 65.)
ORGANIZATION.-Incorporated in New Jersey on May 6 1903 and
controls,through ownership of stock, the Public Service Rwy., the Orange
& Passaic Valley Ry. and the United Electric Co. of N. J. The
of the two companies last named and also the stockholders of certain of the
companies out of which the Public Service Rwy. was subsequently formed
(namely the North Jersey Street Rwy., the Jersey City Hoboken 6c Paterson St. Rwy. and the Elizabeth Plainfield & Central New Jersey Rwy.)
were given certificates described below in exchange for their stock. Holders
of these trust certificates (as also shareholders of the four leased properties)
were accorded the privilege of subscribing at par for Public Service stock to
amount of one-sixth their holdings. See plan in V. 76, p. 865, and also
p. 1249. The Fidelity Trust Co. of Newark financed the transaction.
Controls practically the entire street railway business of Northern New
Jersey and the gas and lighting interests of the greater part of New Jersey.
Leases the Essex & Hudson Gas Co., the Hudson County Gas Co., the
Paterson & Passaic Gas do Electric Co., the South Jersey Gas Electric do
Traction Co., the South Orange do Maplewood Traction, the Orange & Passaic Valley By., the Somerset Union & Middlesex Lighting Co., the Camden
Suburban By., the New Brunswick Light Heat & Power Co., the Gas &
Electric Co. of Bergen County'. Also owns entire capital stock of the Middlesex Electric Light & Power Co.
In April 1906 the $6,250,000 notes given below were issued to finance the
company s needs during 1906 and 1907. The notes were underwritten by
Robert Winthrop & Co. and the United Gas Improvement Co. V.82,p.870.
In May 1908 created a mortgage for 850.000,000 to finance present and
future needs. See details below and also V. 86. p. 1160.
Tunnel Connection with New York.-In April 1006 plans were consummated between this company and the Pennsylvania RR. for a high-speed
electric line from Newark direct to the New York terminal of the latter company. This would obviate the necessity for the building of tunnels by the
Public Service Corporation. See V. 82, p. 988.
It is planned to build terminal stations at Hoboken and Jersey City,
connecting with the D. L. & W. and Penn. RR. stations respectively,
and also with the tunnels terminating at each place.
Lower Rates to Consumers for Lighting Service.-In Nov. 1906 notice was
given of contemplated reductions in rates for electric light and gas. V. 83.
p. 1229.
Merger of Subsidiaries -In 1907 the North Jersey Street By., the Jersey
City Hoboken & Paterson Street Ry. and the United Street By. of Central
New Jersey were consolidated under the name of the Public Service Ry.,
which see below. V. 85, p. 406 and 470.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
Stock, $25,000,000 ($100)____
Q-M 41 $12,500,000 J'n( 30'08.1 %
Trust certificates, $20,200,000
$7,-1 1903
See text 19,707,750
Perpetual
Fidelity Trust Co., Newark, Trustee.
Collateral trust notes,
7.250,000 Nov 1 1909
1904
5 M-N
250,000 ($1,000) g
c*i Fidelity Trust Co., Newark, Trustee.
Unterest at Robert Winthrop 6c Co., N. Y.
Cony notes, $6,250,000. gold( 1906
6,250,000 Nov 1 1909
5 g M-N
($1,000)
c*i Fidelity Trust Co., Newark, Trustee.
lint, at office of R. Win7t6h0r,o00p0&
tN
ex
.t.
Y
Y.
Car trust certificates
6-J-J
See text.
1 1908
j Int. at Fidelity Trust Co., Phila., Pa.
First
goldm
(or
81tg
0a
0g
0)
e $50,000,000,f 1908
(See text) May 1 1058
5 g M-N
c*lInt. at Fidelity Trust Co., Newark, Trustee,
I or agency of company in New York.
Stock and Bonds.-$2,500,000 additional stock was issued in April 1905,
making $12,500,000 outstanding, all paid for at par in cash, and by-laws
of the company are made to provide that the remaining $12,500,000 is also
to be issued only for cash at not less than par. The trust certificates bear
2% interest (dating from June 1 1903) the first two years, 2M % the third
year, and increasing by ;.i % each following year until 6% is reached in the
tenth year, which is to be the rate thereafter. Interest Is payable May and
November. The Fidelity Trust Co. of Newark in January 1905 offered
$2,000,000 of these certificates at 110 and endorsed upon them Its agreement
to pay each year up to 1912 an additional amount of interest to bring the
aggregate stipulated rate of interest immediately up to 6%. See V. 80.
p. 164. The following shows the terms upon which the stocks of the constituent companies were exchanged for the trust certificates. The stocks
acquired are pledged as security for the trust certificates.
New
Total ctfs.
Total
Total
cent!I- if all stock
stock.
deposited, cafes. exchanged.
$
$
i'o
$
*North Jersey Street By
15,000,000 14,275,200 40
6,000,000
*Jersey City Hoboken & Paterson
hy
etetR
eb
iltzra
*ES
CentraI20,000,000 19,839,600 35
7,000.000
Plainfield &
Jersey By. Co
3,000,000
900,000
3,000,000 30
Orange & Passaic Valley Ry. Co.. 1,000,000
300,000
918,700 30
United Electric
ric Co
6.000,000
19,594,000 30
system.
ORGANIZATION.-Incorporated in Tennessee on June 28 1903. Is a
reorganization of the Nashville Railway Co.. sold under foreclosure of the
latter's 1st consol. mtge. I he Nashville By. was a consolidation in 1900
of the Nashville Street Railway, the Nashville & Suburban and the Citizens' Rapid Tiansit, the Cumberland Electric Light & Power and the
Union Light & Power Co. Owns and operates all the street railways and
does entire commercial electric-lighting business in Nashville. Franchises
perpetual. Isidore Newman & Son of New York and New Orleans are fiscal
agents.
Interest. Outstanding. 214 atur1ff/.
Data.
STOCK AND BONT)S.Common $4,000,000$3,979,800
J-J
Pref 5% cum $2,500,000----2,468,900j uly'0824 %
6 g J-J
Citizens' Rapid Transit 1st1 1890
60,000 July 1 1910
mortgage $100,000 gold ._ Int. at Trust Co. of Nor. Am., Philadelphia.
6 J-J
McG 64 Mt V Horse RR 1st M_ 1886
65,000 July 1 1926
1887
6 J
2d series
do
485,000 July 1 1937
6 J-J
Nashville & Edgefield 1st mtgo 1886
99,000 Jan 1 1917
6 J-J
_ 1890
Consol mtge $400,000_
274,000 Jan 1 1920
mortrgel
1895
5
g
J-J
let
Ry
Nashville St
907,000 Jan 1 1925
$2,000,000 gold ($1,000) __)Int. on above 5 Issues payable in New York.
5 g J-J
4,054,000 July 1 1053
Nash By & Lt consol retgel 1903
$6,000,000 gold ($1,000) Interest at Guaranty Trust Co., N. Y., Trus,
sinking fund
5 g J-J
Nash By & Lt ref do ext mtgef 1908
1.489,000 July 1 1958
$15,000,000 ($500, $1,000) Unt. at Guaranty Tr. Co., N. Y., Trustee.
0( or at Nashville Trust Co.. Nashville.
gold --Bonds.-The Nashv. Ry. & Lt. consols of 1903 are subject to call on
any Interest date on 60 days' notice at 107%. No more can be issued
except $56,000 now in treasury. Sinking fund $30,000 per annum, commences July 1 1913.but only If company has a surplus above charges and
div. on pref. stock; bonds to be kept alive in sinking fund. Of the new
ref. and ext. bonds, $6,000,000 are reserved for prior liens; $511,000 are
In treasury or subject to issue at option of company, and $7,000,000 may be
issued, at the rate of $1,000 for each $1,250 expended, for future improvements and equipment, not over $700,000 to be issued in any calendar year,
and subject to ceratin other conditions. Bonds cannot be called. Sinking
fund of M of 1% of outstanding bonds starts Nov. 1 1918, bonds In sinking
fund being kept alive. See particulars of bonds. property, &c., in V. 87,
p. 227.
Dividends.-The first dividend on pref. stock-23i%-was paid Jan. 1
each six months since, to and Including July 1908.
1905 and 2
REPORT.-Years ending Dec. 31:
Net, after
Taxes.
YearGross.
Interest.
Surplus
Total
N
211,T0,00
0
0 -$1,578,207 $609,102 $354,002 $254,200
1907
583,395
1906
1,395,234
331.514
251,881
Now merged in the Public Service Railway, which see below.
483,815
1905
1,174,377
298,741
185,074
The trust deed provides that the stocks pledged shall not be used so as to
ROAD.-Operates 81 miles of track. Has been changed from broad to
increase the capital stock of any of the companies, nor to create any new
standard gauge. 70 to 100-lb. T and girder rails. 228 cars.
OFFICERS.-Pres. and Mgr., Percy Warner; V.-P., J. C. Bradford; liens upon the respective companies except to take UD existing debt of any
such company or of underlying or subsidiary companies.
Sec. and Treas., H. C. Walters.-V. 86, p. 1529; V. 87, p. 38, 227,
The collateral trust notes of 1904 in table above were sold in Oct. 1904
to Robt. Winthrop & Co., J. & WI. Seligman & Co. and Lee. Higginson le
NATCHEZ, MISS.
Co., and were issued to provide funds for extensions, improvements, &c.
SOUTHERN RAILWAY & LIGHT CO.-Street railway, gas and electric. V.79, p. 1956, 2457. They are subject to call on any interest date at 1023,6
and interest. The following bonds of subsidiary companies
ORGANIZATION.-Incorporated in 1908 and took over
deposited with the trustee
collateral for these notes:
Light do Traction Co., sold at receiver's sale (receivership and saleSouthern
of latter Notth Jersey St. Ry. Co., as50-year
$7,230,000
bond
4%
company being the result of a decision of Mississippi courts
fora(' j.
J. C. Hob. & Pat. St.
Co.,4% 50-year 1st mtg. bonds
1,284,000
Southern Electric Securities Co., controlling the Southern Lightwhich
& Traction, United Electric Co. ofRy.
bond
mtg.
1st
N.
J.,
50-year
683,000
4%
of
dispose
its
company.
holdings
V.
85,
in
that
p. 1144.) Southern
to
U. & Middlesex Light Co.,4% 40-year mtg. bonds
507,000
Light & Traction Co. was a consolidation of the Natchez Electric Street Somerset
Plain. & Cent. Jersey Pty. Co.,5% 50-year mtg. bonds__
154
83:00
000
0
By. & Power Co., the Natchez Light,Power & Transit Co. and the Natchez Eliz.
Orange & Passaic Valley By. Co., 5% 40-year bonds
Gas Light Co. Gas franchise perpetual; street railway and electric lighting Central Electric
bonds
Co.,
mtg.
5% 40-year cons.
20,000
franchises expire in 1949. Does the entire street railway, gas, electric- Somerset
Co., 5% 1st mtg. bonds
21,000
lighting and power business of Natchez. Has contract with city for street So. JerseyLighting
Gas El. & Tr. Co.,5% 50-year 1st mtg. bonds
1,507,000
lighting which expires in 1914.
Ellz. & Bar. River St. By. Co., 5% 50-year gen. mtg. bonds....
19,000
S OPT., 1908.
ELECTRIC RAILWAYS
The convertible notes of 1906 are convertible at option of holder on
May 1 1909 into stock of the company at par.
The 1908 car trust certificates mature $40,000 semi-annually, beginning
July t 1008.
$50,000,000 Mortaaae.-Of the new mortgage for $50,000,000, $3,765,000
are outstanding, $13,500,000 are reserved to retire like amount of above
collateral and convertible notes and $760,000 to retire car trust certificates;
remainder are reserved for future betterments under following restrictions:
after the first $3,725,000 additional bonds up to $25,000,000 can be issued
only when earnings exceed by 33 1-3% the annual Interest on bonds issued,
including those to be issued; remaining $25,000,000 can be issued when
earnings exceed by 50% Interest on bonds; issue prior to Jan. 1 1911 not
to exceed $25,000,000; thereafter not over $4,500,000 yearly. V. 86, P.
1160. They are subject to call on May 1 1918 or any Interest day thereafter
at 107 % on 56 days' notice.
Leases.-In the following we show the companies held under leases by
the Public Service Corporation, with the annual dividends called for on the
stocks of such companies.
-Annual Rental-Dividends Guaranteed1st yr. 2d 3d 4th 5th 6th 7th 8th Thereafter
% % % % % % % %
Company%
8 8 8 8 yearly.
6 7
3% 4% 5
Essex & Hudson Gas Co
6 7 8 8 "
4 5
2% 3
2
Hudson County Gas Co
Paterson & Passaic Gas &
2% 3 3% 4 5 5 5 "
1% 2
Electric Co
South Jersey Gas, Electric &
8 8 8 8 "
3% 4% 5
6 7
Traction Co
Elizabeth Plainfield & Central New Jersey*
Orange de Passaic Valieya
Somerset Union & Middlesex Lighting
See those companies.
Camden de Suburban Railwaya
Elizabeth & Raritan River Street Railways
New Brunswick Light, Heat & Power Co
Gas & Electric Co. of Bergen County
United Electric Co. of New Jersey
*These roads have since been merged in Public Service Ry.
a'nese roads are now leased to Public Service By.
Dividends.-First div. of 1% VMS paid June 21) 1907, 1% was paid Sept. 30
1907 andl % Dec. 31 1907. In 1908, March 31 1 %;June 30, 1%.
REPORT.-Company makes no regular annual report, but in a speech
before the Plainfield Board of Trade on Feb. 12 1907 Pres. Thomas IN. McCarterstated that in 1906 the company earned a little over 5% on its stockthis on a gross business of $21,000,000. According to the returns furnished
to the New Jersey authorities, the earnings for the caleadar year 1907 of
the Public Service Railway and leased lines were: (.,ross. $10.468,809:
operating expenses, $6,206,685; net, $4,262,214.
Roberts:
OFFICERS.-Pres., Thos. N. McCarter; 1st V.-P., George J.
P. Dusen2d V.-P., John J. Burleigh; Sec., Ed. W. Hine; Treas., Jas.
1410.
berry: Comp., Percy S. Young.-V.86, p. 1101, 1160, 1285,
United Electric Co
ORGANIZATION.-Organized June 1 1899.
Corporation. Under
Lease.-Leased in 1907 for 999 years to Public Servicewill
be divided and
the lease the $400,000 surplus cash assets of company
5% thereafter paid.
a rental of 3% for two years. 4% for next two years and
of this comV. 85, p. 44. The Public Service Corporation owns nearly all net
earnings
pany's stock. A special dividend of a % out of accumulated
since 1899 was paid June 29 1907-see V. 85, p. 44.
Maturity.
Outstanding.
Interest.
Date.
BONDS.-$20,000,000 July'08,11.
Stock, $20,000,000
18,418,000 June 1 1940
4 g J-D
1st mtge $20,000,000 gold 1899
& Tr. Co., J.C., Trus.
at
Guar.
N.J.Title
Int.
___
000)
($500 and $1
405,000 June 11038
5 g J-D
Con Lt Heat de Pow $1,000,- 1898
Int. at N.J.Titie Guar &Tr.Co ,JO., Trustee
000 ($500) gold__
384,000 Oct 1 1038
A-0
g
5
Pow
1898
&
Heat
No Hudson Lt
Int. at N.J.Titie Guar.&Tr.Co.,J.C., rus.
$2,400,000 ($1,000)
31,500 Dee 1 1909
6 J-D
Jersey City Electric Light Co 1889
_
N.J.Titie Guar.&Tr.Co., Jersey City, Trus.
__
1st mortgage
Bonds -in addition to the above there are $115,000 Con. Lt. lit. & Pow.
bonds in hands of trustee. $1.582 000 1st mtge. bonds are reserved to retire
these $113,000, together with the Con. I.t. Ht. de Pow. and No. Had. Lt.
Ht. & Pow, bonds, on the following basis: 5175 1st mtge. bonds for $100
prior bonds and $20 in cash. V. 83, p. 44, 288, 415.
COMPANIES LEASED (BUT NOT OWNED) BY PUBLIC SERVICE
CORPORATION
Essex & Hudson Gas Company.
•
This company is leased to the Public Service Corporation for 900 years
from June 1 1903. See terms blither above. The United Gas Improvement
Co. owns a majority of the stock.
ORGANIZATION.-Tncorporated In New Jersey In Nov. 1393, and leases
the Newark Consolidated Gas Co. for 999 years from Dee. 11808, at a rental
of all fixed charges and dividends on the $6,000,000 stock of that company,
% yearly until 3% is
commencing: at % % on July 1 1900 and increasing
reached in 1910; thereafter 5% per annum.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$6,500,000
J-D
Stock $6,500,000 ($100) __ _ ___
0,000,00m) Dec 1 1948
5 g J-D
Newark Cons Gas cons mtge 1898
Fidelity Trust Co., Newark, Trustee.
$10,000,000 g ($1,000)_.c•
4,000,000 April 11944
()-.1
6
1895
400it
1s
Newark Gas
000 ($1,000)------ -- -----C
.
.000.000 Newark Con. Gas bonds, $4,000,000 are reBonds.-Of the $10
served to retire underlying liens.
PLANT.-Owns entire gas plants in the territory between Passaic and
Elizabeth, including Newaric.-V. 67, p. 1002, 1100.
69
Interest. Outstanding. Maturity.
STOCKS AND BONDS- Date.
Underlying Bonds assumed$110,000 Jan 1 1911
5 J-J
Plainfield Gas & Electric lstf 1891
o., New York, Trustee.
troal T5rustAFo
n0
gen1C1e0
350,000 April 1 1940
Plainfield Gas & Elect Lt
__ ..... Morton Trust Co . New York, Trustee.
mtve $500,000
40,000 Nov 1 1915
M-N
5
1895
Citizens' Electric 1st__ _____
1, Knickerbocker Tr. Co., New York, Trustee.
150,000 Feb 1 1936
5 F-A
Somerset Lighting Co 1st _ __.f 1899
Fidelity'mist Co., Newark Trustee.
700,000 July 1 1940
5 g J-J
Cent Elec 1st mtge $750,000 1900
($500 and $1,000) gold_ c• Int. at Fidelity Tr. Co., Newark, Trustee.
50,000 June 1 1918
6 J-D
Edison Elect Ill of N B 1st 1888
mortgage
Bonds.-$1,127.978 of the 1903 bonds have been issued in exchange for
the stocks of the companies consolidated and $846,000 for extensions and
improvements; $897 is reserved for the Central Electric stock not yet acquired (the company having pieviously obtained the remainder of the
$750,000 total stock of that company), $775,000 to retire the underlying
bonds and $30,125 for future additions and improvements. No sinking
fund and bonds cannot he called. Of the $500,000 Plainfield Gas & Electric
general 5s, 5150.000 is reserved for prior liens. Of Central Electric Co.
bonds, $30,000 Is reserved to retire a like amount of Edison Electric
Illuminating Co. bonds. The Central Electric bonds are subject to call
after 1905 at 110 and Interest.
Pres., H. G. Runkle; Sec., J. C. Pope. V.:8, p. 107
South Jersey Gas. Electric & Traction Co
This company was Leased to the Public Service Corporation for 000 years
from June 1 1903. See terms further above.
ORGANIZATION.-Incorporated in 1900 to bring under one control
In
the gas, electric light and trolley interests In Southern New Jersey.
Dec. 1902 purchased the entire capital stock of the Bristol Electric Light &
debt.
bonded
no
has
Power Co. of Bristol, Pa.: the latter
Also owns the entire capital stock ($600,000) of the Camden Gloucester
& Woodbury Ry , which has been leased to the Public Service By. Co.
Interest. Outstanding. Maturity.
STOCK AND.BONDS.- 'Date.
t
x3
e5
7:000 mchSele 1t0
10
00
1:7
16
$
Stock $6,000,000 ($100)____ _ ___ _
i-S
5 itan
1st mtge $15,000,000 gold1 1903
(31,000) guaranteed__ .c• Int. at Fidelity Tr. Co., Newark,N.J., Trus.
2,000,000 Mch 1 1949
5 g at-S
Trenton G de El 1st al 52,000,- 1899
ivit-stNCo. of Am., N. Y., Trustee.
Trt
tg
te0rIest a5
000 geld ($1.000)
10
11..-_IfIn
100,000 May 1 1921
Burlington Gas Lt Co 1st
(,Int. at Burrgt'nCityr..&T.Co.,Burl'n, N. J.
reserved to retire
are
$2,108,000
the
new $15,000,000 issue,
Bonds.-Of
prior liens and $1,175,000 for additions and improvements. No sinking
fund and bonds cannot be called. These bonds are guaranteed by the Public Service Corporation. The Frenton Gas & Electric Co. bonds are also
guaranteed by the Public Service Corporation.-V. 76, p. 332. 544. 866.
1144, 1250; V. 78, p. 1449; V. 86, p. 1530.
Gas & Electric Co or Bergen County.
LEASE.-Is leased to the Public Service Corporation for 999 years from
Jan. 1 1905. Dividends are to be 2% for first two years, 2% % for the
next year, 3% for the next two years. 4% for the next four years and 5%
thereafter.
ORGANIZATION.-Is a consolidation of several small gas and electricLight companies. Stock was formerly held in a voting trust, but this expired by limitation on Dec. 28 1904. See V. 80, p. 653.
Interest. Outstanding. Maturity.
Date.
STOCK AND BC NDS-See text.
$2,000,000
Stock, $2,000,000 (1100)
46,000 Nov. 1 1954
5 g M-N
General mortgage,$8,000,0005 1904
1Bowling Green Trust Co., N. Y., Trustee.
gold ($1,000)
1,637.000 Nov. 1 1954
5 NI-N
General mortgage 55,000,0001 1904
5Fidelity Trust Co., Newark. Trustee.
June 1 1949
1,336,000
J-D
g
5
1899
$1,-J
mortgage,
Consolidated
1Fidelity Trust Co.. Newark, Trustee.
500,000 gold
50.000 Mch. 1 1911
6 g M'S
N Y Ruth & Sub consol mtge_ 1895
50,000 Mch. 1 1911
6 M-N
Ruth & B Springs gen mtge_ 1891
23,000 Jan. 1 1939
5 J-J
Englew G & E general mtge.__ 1899
3,000 Jan. 1 1917
Hack Gas & Elec deb Series 1_1897-8 6 J-J
10,000 Jan. 1 1935
J-J
5
Hack Gas & Elec general mtge 1895
28,000 Jan. 1 1934
5 J-J
Hack G L 1st mtge ($1,000) c 1894
Bonds.-Of the general mortgage for $5,000,000, $1,546,000 are reserved
to retire prior liens and 51,817,000 for additions and improvements.
OFEICERS.-Pres., Dr. D. St. John, Hackensack.-V. 80, p. 653.
New Brunswick Light, Heat & Power Co.
ORGANIZATION.-Incorporated in New Jersey on Dec. 7 1899. Owns
all the stock of the Gas Light Co. of New Brunswick. Is leased to the
Public Service Corporation for 900 years from Jan. 1 1905. rental being 2%
In each of the years 1905 and 1906, 25 % in 1907 and 1908, 3% in 1909 and
1910. 3% % in 1911, 4% in 1912,4% % in 1913 and 5% in 1914 and thereafter.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSSee text.
$400,000
J-J
____ -Stock,$500,000 ($100)
500,000 Dec.15 1939
4 g J-D 15
First mtge, $500,000, goldj 1899
Trustee.
Newark,
Co.,
Trust
Fidelity
at
c*lInt.
($500 and $1,000)
OFFICERS.-Pres., John C. Eisele, Newark; Sec., H. M. Barrett;
Treas., Nathaniel King, Newark.-V. 70, p 2790.
Middlesex Electric Light & Power Co.
ORGANIZATION.-Is a consolidation of the Cartaret Electric Light &
Power Co. and the Middlesex Lighting Co. Stock all owned by Public
Service Corporation.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$175,000
Stock, $200,000
176,000 Jan..1955
5 g J-J
1905
gold
$200,000,
mortgage.
First
Bonds.-Of the bonds, $24,000 are reserved for improvements.
PUBLIC SERVICE RAILWAY CO.-See map on pages 64 and 65.
Controlled by Public Service Corporation through ownership of stock.
No lease.
ORGANIZATION.-Organked in 1907 as a consolidation of the North
Jersey Street By., the Jersey City Hoboken & Paterson St. Ry. and the
United Street By. of Central New Jersey. V. 85, p. 406. The North Jersey Street By. In Jan. 1898 absorbed the Newark & South Orange. The
Jersey City Hoboken & Paterson was a consolidation in November 1899
of the following* Jersey City Hoboken & Rutherford Electric; North
Hudson County (controlling the Hudson L5c Bergen Traction and the
Pavonla House Railroad); Palisades Railroad; Paterson Central Electric;
Paterson Horse Railroad; Paterson Passaic & Rutherford Electric RR.;
Paterson By ; Saddle River Traction; White Line Traction, formerly the
New Jersey Electric. The United Street By. of Central New Jersey was a
Paterson & Passaic Gas & Electric Co.
consolidation in July 1907 of the Elizabeth Plainfield & Central Jersey By.
This company is leased to the Public Service Corporation for 900 years (which
was chartered in 1900 as a consolidation of the Plainfield Street Ry
above.
further
terms
from .rune 1 1903. See
and other companies) and the Elizabeth de Raritan River Street Ry. (which
ORGANIZATION.-1s a consolidation of the various gas and lighting was a consolidation on April 30 1904 of the Middlesex & Somerset Traction
properties of Paterson and Passaic.
Co. and the East Jersey Street By. which latter company had previously
Interest. Outstanding. Maturity. absorbed the Raritan Traction Co., the Perth Amboy RR. and the East
STOCK AND BONDS.- Date.
$5,000,000
J-1)
Stock $5,000,000
Jersey Traction Co.
1919
1,03
Mch 1
5 g M-S
Cons mtg.: $5,000,000 gold( 1899
In addition to above the Public Service By. leases the Consolidated Trac($1,000)
c•( Int. at First Nat. Bank, Paterson, or First tion of New Jersey, the South Orange & Maplewood Traction, the Bergen
York.
New
bank,
I National
Co., the Orange & Passaic Valley By., the Camden & Suburban
Turnpike
6 0.000 June30 1923
5 g J-J
1895
Ed El Ill gen mtge
By. and the Camden Gloucester & Woodbury By. Co., which companies
316,01)0 May 1 1923 sec
5 g J. D
Passaic Ltg Co con mtge. ___ 1895
below.
50,000 June 1 1922
6 g J-D
Passaic Gas Lt 1st int ge_ _ .. 1892
The basis of exchange of old stock for stock of this company is as follows
Receive New Stock
Bonds.-Of the new 53,000,000 mtge. of 1399, 5963,000 is reserved for
in new if all Stock
Total
Total
underlying liens The new bonds are not subject to call. The Paterson
Stock. Exchanged
Stock.
Deposited.
Companyof
Name
is
Co
Trust
&
trustee.
Deposit
Safe
North Jersey Street Ry......315,000,000 $14,273,200 100% 515,000,000
20,000,000
19,839,600 100%
Somerset Union & Middlesex Lighting Co.
ey City Hob. & Pat._, 20,000,000
,
Jei
3,000,000
75%
4,000.000
4,000,000
ORGANIZATION.-Incorporated in New Jersey on Dec. 1 1903, in the United St. By.of Cent.N.J
of
the Somerset
interest of the Public Service orporation, as a consolidation
$38,000,000
$39,000,000 538.114,800
Total
Lighting Co. of Somerville, N. J., the Plainfield Gas & Electric Light Co. of
Right to Tax Franchise.-In Jan. 1902 the New Jersey Court of Errors and
Plainfield, N. J , and the Citizens' Electric Co. of North Plainfield. (V. 78,
decided that the Newark City authorities could not tax the North
p. 107.) On Dec. 31 1903 the Central Electric Co. was also merged in the Appeals
Jersey Street By. franchises. V. 74, p. 281.
same.
Legal.-July 2 1907 the Court of Errors and Appeals sustained
for
Operation
Corporation
Service
leased
to
Public
is
the
LEASE.-The company
the right of the North Jersey Street By-to operate the main part of system
900 years from Dec. 31 1903 on the following terms, viz.: all interest, ex- in
The city had claimed that a new franchise was needed
City.
Jersey
dividend
a
rental
as
Public
Service
and
Corp.
by
paid
be
to
taxes
penses and
See V. 85, p. 100.
1905. 1 %: Dec. 1 1906
on the stock accruing as follows: From Dec. 1 '
No Seat, No Fare" Ordinance.-In Nov. 1907 the Supreme Court of
1 3 %; Dee. 1 1907 2%' Dec. 11008, 2% %; Dec. 11000, 3%; Dec. 11010
New Jersey sustained validity of this Jersey City ordinance, which provides
3). %: Dec. 11011 and thereafter, 4%.
from
Interest. Outstanding. Maturity. among other things that a seat must be provided for every passenger
STOCK AND BONDS.- Date.
See text whom a fare is demanded. See V. 85, p. 1271.
$1,050,000
J-D
Stock $1,030,000 ($100) _
Div., etc.
Outstanding.
Rate.
Date.
BONDS.
AND
STOCK
1943
1
.J-D
Dec
g
4
1,073,978
1903
Somerset ilit & Mid Lt Co -M1
$37,114,800
Stock, $38,000,000 ($100)$2,750,000 ($1,000)1g_ .c*f Int. at Fidelity Tr. Co.! Newark, Trustee.
Hudson County (ias Co.
This company is leased to the Public Service Corporation for 90)) years
from June 1 1903. See terms further above.
ORGANIZ'MON.-Incorporated in New Jersey in October 1899, and
is a consolidation of the various gas plants in Jersey City and Hoboken.
Interest. Outstanlini. Maturity,
STOCK AND BONDS.-- Date.
-___ $10,500,000
Stock $10,500,000
10,500,000 Nov 1 1949
g M.-N
5
1899
First mortgage $10,500,0001
IN.J.Titie Guar..4eTr.Co., Jersey City, Trus.
gold_
noboken and Hudson
Jersey
City,
in
niants
PLANT.-Controls all gas
County, N. J.-V. 78, p. 770; V. 84, p. 1555.
70
ELECTRIC RAILWAYS
SECURITIES OF NORTH JERSEY STREET RY,
Date.
Interest. Qutstanding. Maturity.
First mortgage, $15,000,000.1 1898
4 g M-N $15,000,000 May 1 1948
gold ($1,000 each)
i Manhattan Trust Co., New York, Trustee.
(Interest at Fidelity Trust Co., Newark, N. J.
SECURITIES OF JERSEY CITY HOBOKEN & PATERSON ST. RY.
Date.
Interest. Outstanding. Maturity.
Jersey City Hoboken & Pater-} 1899
4 g M-N $14,061,000 Nov
1 1949
erson mortgage gold, $20,- Interest at New Jersey Title Guarantee
&
000,000 ($1,000)
c*
Trust Co., Jersey City, Trustee.
Constituent
Bonds of
CO3.N. Hud. Co. Ry. mtge.($1.000)1884
6 J-J
620.000 Jan 1 1914
North Hudson County RY-1
consol mortgage $3,000,000} 1888
5 J-J
2,378.000 July 1 1928
8620.0.00 to retire 1st Mc*)
N. Hud. Co. By.2d M.($1,000) 1894
5 MN
1,201,000 May 1 1924
Weehawken Extension Mort- 1895
5 F-A
100.000 Feb 1 1915
gage
Central Trust Co., New York, Trustee.
Paterson By Con M (now 1st) 1891
6 g J-D
1,1)0,000
June 11031
gold $1,250,000 ($1 ,000) _c Knickerbocker Trust Co., N.
Y., Trustee.
Paterson Ry second gen mtge 1894
6 A-0
300 000 Oct 1 1914
$300,000, red at any time Paterson Savings Institution,
Bonds.-The second 5s of the North Hudson County Ry. Trustee.
expired May 1
1904, but were extended unt 1 May 1 1924, See V. 78,
p. 1392. These
bonds are redeemable at 110 and interest on any .interest
date. V. 78,
p. 1392.
1V0L, Lxxxvn.
on the preferred stock for first year and increasing $500 yearly until ninth
year, when $6,000 is paid, which amount is to be paid thereafter. Rental is
guaranteed by Public Service Corporation of New Jersey. V.77, p. 824.
ORGANIZATION.-Consolidation in July 1901 of the South Orange &
Maplewood Tr. Co. and the South Orange & Maplewood St. Ry. Stock authorized, common,$75,000; preferred, $150,000. No bonds.
ROAD.-Total,Including sidings, 5.4 miles.
(3) Bergen Turnpike Co.
Leased to Public Service By. Jan. 1 1908.
ORGANIZATION.-Originally chartered on Oct 27 1802, with $53,990
capital ($10 shares), and owns the turnpike from Hoboken to Hackensack,
a distance of 12 mlles, over which an electric road wasconstructed in 1902
Jersey City Hoboken & Paterson (now merged in the Public Service Hwy
Co.) owned a majority of the stock and guaranteed Its 51,000,000 5%
bonds,dated 1901,due July 1 1931; interest J-J: prin. and int payable at
New Jersey Title Guarantee & Trust Co., Jersey City, Trustee.
(4) Orange & Passaic Valley Ry
Leased for 900 years from Nov. 1 1903 to Public Service Corporation for
Interest on the trust certificates Issued in exchange for stock. Lease was
assigned to North Jersey Street Ry. Co. July 23 1907 and now held by
Public Service By.
ORGANIZATION.-Incorporated in 1898
Suburban
Traction Co., sold in foreclosure July 6 1898. as successor of
BONDS.Date.
. 5Interest. Outstanding. Maturity.
1st mtge $1,000,000 _____
1898
D ty.1r
3f3 0 yce
119u3s8
.
0.
880
1.N.J.Tit Guar. & Tr.
Jersey City,
(5) Camden & Suburban Ry.
Was leased on May 1 1904 to the Public Service Corporation for 999 years
rental being (in addition to fixed charges) 530,000 the
year (1905).
536,000 the second year, $42,000 the third year, $48,000first
the fourth year,
$54,000 the fifth year, $72,000 the sixth year, 584,000 the
seventh year,
$96,000 the eighth year, $108.000 the ninth year and $120,000
the tenth
year and thereafter. V. 78, p. 2383. Lease was assigned to
Public
Service By. Co. Sept. 30 1907.
ORGANIZATION.-Formed in 1896
Controls the Camden Horse RR
(which is leased) and the West Jer ey Traction Co.(stock $65,000).
STOCK AND BONDS.- Date.
Interest.
see
Maturity.
Stock $3,000,000 ($25)
_
Q-F
Outstanding.text
See text
1st mortgage 53,000,000 -gold i 1896
5 J-J
51,440,000 July 1 1046
($1,000)
lint. at Security Tr. Co., Camden, N. J., Trus.
Car trusts 870,000'
f 1904
5 g A-0
42,000
See text
lint. at Camden (N. J.) Safe Dep. & Tr. Co.
Bomis.-The car trusts in table above mature $7 000 annually on April
1
until and including 1914* $7,000 were retired on AprIl 1 1905,
on
April 1 1906, $7,000 April 1 1907 and 51,00) April 1 1908. $7,000
Of
the
1st
mtge.' bonds. $1,000,000 are reserved to retire stock of Camden Horse
RR. and 8500,000 to retire bonds of that company.
Stock.-The stock is all outstanding; 20 % paid In.
ROAD.-Track, 50.37 miles; Camden Horse RR., leased, 30.11 miles;
West Jersey Traction Co., 3.19 miles: total, 83.67 miles. Connection
.nrough to Trenton is made over the Camden & Trenton. V. 78, p. 1781
2383.
SECURITIES OF UNITED STREET BY. OF
CENTRAL N. J.
Bonds of Constituent Cos.- Date.
Interest. Outstanding. Maturity.
Ellz. Plain. & Cent. N. J. Mi 1900
5 g J-D
82,400,000 Dec 1 1950
$2,500,000 ($1,000) gold.c*}Interest at Fidelity
Trust Co., Newark,
No.s. 1. ec cannot be called) Trustee.
Plainfield Street Ry. first M1 1892
5 J-J
100,000
1922
($1,000) c*_ __Call in 1904 Int. at Fidelity Trust Co.,
Newark, Trustee.
Elizabeth & Raritan Riv. St. 1904
5 g M-N
1,500,000 May 1 1954
By. gen. Mtge, $3,500,000 Fidelity Trust Co., Newark
Trustee.
Brunswick Traction mtge, g1 1896 5 g J-J
500,000 July 1 1926
($1,000) c*cannot be called JFidelity Trust Co., Newark,
Trustee.
Middlesex & Somerset Trac g1 1900
5 g J-J
Jan 1 1950
M $1,500,000 ($1,000)__c* Int. at Fidelity Trust1,000,000
Co., Newark, Trustee.
East Jersey fit
first mtge, 8500,- 1904
5 g M-N
500,000 May 1 1944
000, gold, guar p and L._
Perth Amboy Tr. Co.. Perth Amboy, Trus.
Bonds.-01 the total issue of Ellz. Plain. &Cent.
N. J. bonds dated 1900,
$100,000 Is held to provide for like amount of the Plainfield
Street Ry. Co.
bonds. See V. 71, p. 1310. Of the Enz. & Raritan
Street By.
gen. mtg. of 1904, $2,000,000 are reserved to retire prior River
REPORT.-Earnings of Public Service By. and leasedliens.
year 1907 were: gross, $10,468,890; operating expenses, lines for calendar
$6,206,685; n,t,
$4,262,214.
ROAD.-Operates 657.638 mlies of road.
OFFICERS--Pres., Thos. W. McCarter; 1st V.-P., Geo.
2d V.-P., J. J. Burleigh; Sec., E W. Hine; Treas., J. P. J. Roberts;
Dusenberry;
Comp.,P. S. Young; Gen. Mgr., R. E. Danforth; Gen. Aud.,
M. R. Boylan.
-V.85, p. 406, 1271.
(1) Consolidated Traction of New Jersey.
On June 1 1898 leased to North Jersey Street Ry. for 909-years, and
(a) Camden Horse RR.-A trolley and horse road.
lease
has now passed to Public Service Hwy. Co. V. 66, p. 1141; validity
ORGANIZATION.-Incorporated March 23 1866. Leased to the Camof
lease was affirmed in Feb. 1902 (V. 74, p. 380) and again in Feb.
1903. den & Suburban Ry. from April 1 1896. Rental, &c., received in 1906.
V. 76, p. 382.
$60,000. from which paid 24% on stock.
Dividends under lease are:
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
1899-1901
1902.
1903-1904.
1905.
Thereafter. Stock ($25) paid In
f 1889
5Seemt-eN
xt
5230.000
2%
See text
2A %
3%
3A %
4%
STOCK AND BONDS250 000 May 1 1909
Date. Interest. Outstanding. Maturity. 1st mortgage
r
Security Trust Co., Camden, Trustee.
Stock, all paid in ($100) ____
J-J 15
$15,000,000
See
5500,000
text
($5
cons
mtge
1st
00)1
1802
5 M-N
Underlying bonds-see below
250,000 May 1 1912
7,308,000
Security Trust Co., Camden, Trustee.
1st mortgage, gold, $15,000,-1 1893
5 g J-D
15,000,000 June 1 1933
Interest payable at New Jersey Trust Company,Camden, N.
000 ($1,000)
JInterest at Manhattan Tr. Co., N. Y., Trustee
J.
-1896.
Dividends.
The gold bonds of 1893 are secured not only by mortgage, but
6,
187.
9;
20
.15%; 1898, 18%; 1899, 18%; 1900,
also by 20:
deposit of 51,000,000 stock of J. .C. & Bergen RR., $161.625
11940%
2:an1d1
897,
903, 22%; 1904, 1905. 1906 and 1907.
stock
of
Newark Plank Road Co., $6,000,000 stock Newark Passenger By. and
$119.- 24 70.
100 stock of Jersey City Harrison & Kearney By. Co.
ROAD.-Has 30.11 miles of track.
ROAD.-Jan. 1 1907 there were in operation 100 miles of track,
In(6) Camden Gloucester & Woodbury Railway Co
cluding:
Leased to Public Service By. Co.
N. J. Traction Co
Stock owned1J. C. Bar. & K. RR___Stock
ORGANIZATION.-Entire 8600,000
Newark Passenger Ry_Stock owned Newark Plank Road_ __Stock owned
Is owned by the South Jersey
owned Gas, Electric & Traction Co. All bondsstock
J. C. & Bergen RR_ _ Stock owned South Orange & Maple.
have been canceled.
ROAD.-Comprises 25 miles of road.
Passai & Newark El Stock owned I wood Traction
c
Lease
Stock, debts and mileage of the leased and controlled lines:
Miles.
Stock.
Funded debt.
New Jersey Traction Co
None
$500,000
NEW BEDFORD, MASS.
Newark Passenger Ry
83
6,000,000
sti,liob,000
DART:MOM-I & WESTPORT STREEf RY.- An electric road.
Rapid Transit Street By
12
504,000
500,000
Jersey City & Bergen RR
ORGANIZA
41.
TION,
1,000,000
&C.-Stock, $262,500; first mortgage, 5150,000.
258,000
Jersey City Harrison ec Kearney Ry_10
dated 1895, gold,0* ($1,000 each),55,A-0,issued 590,000, due April 1 1915.
*100,000
Newark Plank Road
4 4-5
Trustee, International Trust Co., Boston, where interest is payable.
162,000
Passaic & Newark Electric Traction_10%
1,000,000
DIVIDENDS.-8% has been paid (2 Q-F) for several years up to and
- -5-5-0,666
Port Richmond & Bergen Point Ferry __
4,000 shares
including Aug. 1 1908.
South Orange & Maplewood Tree
225,00
53.
ROAD.-Connects cities of Fal River and New Bedford. Owns 18.06
-miles of track and operates in all 30.70 miles of main track. 23 passenger
* On this $18,000 has been paid in.
cars, 4 snow-plows and 170 electric motors.
EARNINGS.-Fiscal year ending Sept. 30 1907: Gross. $209,581;
(a) Jersey City & Bergen Railroad.
net.
$75,023; interest and taxes, $19.367; dividends, $21,000; surplus, 834,661.
ROAD.-Owns from Jersey City to Bergen Point, &e. total
41
OFFICERS.-Pres., H. H. Crapo of New Bedford; V.-P., Thos. B.
miles. Controlled by Consolidated Traction Co., all the stocktrack,
being
deTripp; Treas.. E. F. Nicholson, New Bedford; Sec., Robert S. Goff, Fall
posited as part security for the Traction Co. 1st mortgage.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity. River; Supt., E. S. Wilde.-V $2,p. 691.
Stock
$1,000,000 f.p.
1st mortgage ($1,000)____c*J 1873
4 A J-J
258,000 Jan 1 1923
NEW BEDFORD & ONSET STREET RY.-A trolley road.
1Manhattan Trust Co., New York, Trustee.
ORGAN IZATION.-Incorporated in Massachusetts in 1901.
Bonds.-The bonds (originally 7s) matured Jan. 1 1903. but were
ex- pany Is owned in the same interest as the Union St. Rwy. Co. In This comtended as 4 As for 20 years from that date.
June 1906
issued 550,009 new stock in exchange for tne 5150,000 stock of the Tantonn
(b) Newark Passenger Rail way.-ElectrIc.
& Buzzard's Bay Street Ry., which was a reorganization of the 81Iddieboro
ORGANIZATION.-Incorporated June 16 1890. On July 29
INareham & Buzzard's Ray Street Ry
V. 32, p. 1438.
leased to New Jersey Traction for 999 years, and so controlled by the 1893
STOCK AND BONDSInterest. Outstandiny. Maturity
Date.
solldated Traction Co. of New Jersey, the N. J. Traction Co. having Conbeen
Stock,
5550,000
($100)
:
$258500000000
leased to the Consol. Traction Co. of N. J. Jan. 2 1894 for 999
years. First mortgage, 5500.000.1 1902
5 g J-J
Charter said to be perpetual.
Jan. 1 1922
gold ($1,000)
_.
e*
Int. at International Tr. Co., Boston,Trus.
LEASE AND RENTAL.-Rental under the lease, $105,000 yearly.
fund
sinking
No
and not subject to call.
STOCK AND BONDSPar.
Interest. Outstanding. Maturity
MW &BB first mortgagej 1901
4 g A-0
150,000 Oct. 1 1021
Stock
$100
Text
$6,000,000 Own.byC.Tr
$150,000 ($1,000) gold_ _c11nterest at Federal Trust45
C,o
0.0
Newark Pass Ry 1st con11,000
,0Pos!!!,..T
.ru_s
:
5 g J-J
6,000,000 July 1 1930 Floating debt Sept. 30
1907_
-1890, $6,000,000, gold_ .c*JN. J. Title Guar. & Trust Co., Trustee.
Bonds --The Middleboro Wareham & Buzzard's Bay bonds have no sinkThe $6,000,000 stock is all deposited as security for the
Consolidated
fund,
but
are
ing
subject
before
to
Oct.
call
or
on
1
1906
Traction Co. first mortgage.
at 110; thereafter
through Oct. 1 1911 at 107 A , and thereafter before Oct. 1 1921
Interest on consol. 5s is payable at First National Bank,
at 105, all
The consols are guaranteed, principal and interest, by the Jersey City. with interest. See V. 73, p. 1313. Interest was formerly 5%,but on conConsolidated
solidation
with
New
Bedford
was
Onset
&
reduced
Traction Co. of New Jersey,and in February 1895 the guaranty was
to 4 5.
stamped
ROAD.-Owns 44.119 miles of track between Fairhaven and Onset and
on the bonds. V. 59. p. 969.
ROAD.-Jan. 1 1907 aggregated 83 miles of track.-V.81, p. 900.
In Middleboro and to Buzzards Bay and to Monument Beach
36 passenger
cars, 4 snow plows, 3 miscellaneous and 104 electric motors.
(d) Rapid Transit Street Railway.
EARNINGS.-For year ending Sept. 30 1907, gross, $117,888; net
ORGANIZATION.-In Feb. 1892 leased to Newark Passenger Ry.
$45,224;
Interest
and taxes. $23,155; surplus, 817,069.
and
Included with it In lease to New Jersey Traction, and so forms
OFFICERS.-Pres.. H. H. Crapo; V.-P., Thos. B. Tripp' Sec., Clarence
art of
Consolidated Traction system.
A. Cook; Treas., E. F. Nicholson; Supt., Geo. P. Dole.-V.82, p. 1438.
STOCK. BONDS, ETC.- Par.
Interest. Outstanding. Last div.,&c
Stock, trustees' certificates
11 IX J-D30
$504,000
See text
UNION STREET R
1st mtge, $500,000, g
N% Ay
trolley road.
c*1 -1,000 5 g A-0
500.000
Sub.to call at 110& int.any Interest at office of Fidelity April 1 1921
ORGAN IZATION
nuorporated March 18 1887
Trust Co.,
time after April 1 1901.
Newark, N. J., Trustee.
STOCK
AND
BONDSDate.
Interest. Outstanding. Lost dtv..Crec
Dividends of 11 ig % yearly are guaranteed by the Newark
Passenger and Stock, $000,000 (par $100).. C)-F
$000,000 A g '08, 2%
New Jersey Traction companies upon the trustees' certificates
issued for Cosnf
oln tsgueb
s.
$
to
5Ocua.10
1_00:cgi
400,000 Jan. 2 1014
stock. Miles of track 12.07.
not subject
.
tia
it 015d gCo
Iii
st
i
jIo
jny Trust Co. Boston, Trust.
(e) Passaic & Newark Electric Traction.-A trolley road.
Notes payable on Sept. 30-1907
ORGANIZATION.-Incorporated April 30 1895 and acquired
Dividends.--In 1896-97, 10%. In 1897-98, 6%; 1898-09 to 1906-07. inall the clusive,
$1,000,000 stock of the Passaic & Newark Electric By. Consolidated
8% per annum; in 1908, Feb., 2%; May, 2%; Aug., 2%.
Traction Co. of N. J. owns all the stock and guarantees the bonds.
ROAD.-Owns 31.876 miles of track.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
EARNINGS.-For years ending Sept. 30:
Stock $1,000,000 ($100)_
$1,000,000
_.
1007,
1st M $1,000 000 guar p & 10 1897
1907.
1008.
5 g J-D
1906.
350,000 June 1'I7 Gross earnings_ _
_$467,853 $396,093 Dividends Paid__ $72,000 $72,000
by Consul Trac of N J___ ..JInt. at N.J. Title Go. & Tr.. Jersey
City.
Net
165,736 126,845 Surplus for year__ 29,851 def.2,438
ROAD.-Owns 10.73 miles of track.
Interest, taxes. &c 63,885
57,283
(2) South Orange & Maplewood Traction.-Trolley.
OFFICERS.-Pres., H. H. Crapo; V.-P., Thos. B. Tripp;
This company was leased on Oct. 1 1903 to the North Jersey
By.(now Cook; Treas., E. F. Nicholson; Supt., E. S. Wilde, all of New Sec., C. A.
merged in the Public Service Ry.) In perpetuity, the rental St.
Bedford.
being $2,000 V.63 p.1061; V. 70, p. 947, 1050; V. 75, p. 1088.
71
ELECTRIC RAILWAYS
SEPT., 1908.]
NEW HAVEN, CONN.
CONSOLIDATED RAILWAY CO.-A trolley road.
This company, the whole of whose $10,000,000 stock was owned by the
New York New Haven & Hartford Railroad Co., was on May 31 1907
(after it had previously taken over the New England Navigation Co.at a
valuation of $20,000,000 and increased its stock to $30,000,000 for the
purpose) consolidated with and merged into the New York New Haven do
Hartford RR. The charter of the New Haven Co. had been amended by
Act of the Connecticut Legislature, approved March 26 1907,so as to permit
the merger, and new stock of the New Haven Co. was issued, share for
share, to represent the $30,000,000 stock of the Consolidated Railway Co.:
V. 84, p. 1052, 1308. It was distinctly provided that the rights, powers
and franchises of both companies should be vested in the enlarged company.
The New York New Haven & Hartford's interests in trolley lines are very
extensive, and control of the same is held through three organizations,
the Connecticut lines having been comprised in the Consolidated Railway
Co., now merged in the New Haven, the Massachusetts street railway
properties being held by the New England Investment & Security Co., and
the Rhode Island lines by the Providence Securities Co.
Control of Trolley Roads Attach:ed.-The Supreme Judicial Court on May 8
1908 deci led that the New York New Haven & Hartford RR.,In securing
control of Massachusetts street railways, was transgressing the law; (see
V.86, p. 1225, 1285.), and on June 23 1908 Court issued its decree prohibiting New Haven road from exercising any ownership over same directly or
indirectly after July 11909. V. 86, p. 1590. On May 22 1908 the Federal
Government began an action against the New York New Haven & Hartford,
asserting that the acquisition of the trolley lines In the various States, as
well as the Boston & Maine, was in violation of the Sherman Anti-Trust
Law. V. 86, p. 1285.
Operating Company.-The Ones comprising the Consolidated By. are
being operated since June 1 1907 by the Connecticut Co., the New Haven's
operating electric company.
ORGANIZATION.-The Consolidated Railway Co. was incorporated in
Connecticut on Aug. 31 1901 as the Thompson Tramway Co., but name
changed on Jan. 24 1902 to Worcester & Connecticut Eastern RR. and then
changed on May 18 1904 to Consolidated Railway Co.
The following companies have been absorbed or are leased or controlled:
Bennington do Hoosick Valley Ry. New Haven St. By. V. 79, p. 989.
V. 84, p. 101.
New Haven & Centreville Street Ry.
V. 78, P. 989.
Bennington & North Adams St. Ry.
New Hay. do W. Haven Horse RR.
V. 84, p. 1181.
Branford Lighting & Water Co. V. New London Street Ry. V.79. p.268.
New Milford Power Co. V.83,p.1524,
81, p. 155, 210.
Columbian Street By. V.83,p.1290 N. Y. & Stamford Ry. V.80, p. 118.
Street By. V.79, p. 268
Norwich
Co.
Lighting
Connecticut Railway &
People's Tramway Co.
V. 83, p. 1524.
Danielson & Norwich Street By. V. Providence Securities Co. V. 83,
p. 1525.
79, p. 268.
E. Hartford & Glastonbury St. By. Putnam de Thompson Street By.
Fair Hav.do Westv RR. V 78,p. 981i. Stafford Springs Street By.
Greenwich Tram. Co. V. so, p. 118. Stamford Street By.
Hart.Man.&Rockv.T.Co. V.82,p.280. Suffield Street Ry. V. 80, p. 1914.
Torring. do Win.St. By. V.82,p.1437
Hartford do Middletown Street By.
V.'85, p. 1463.
Hartford Street By.
Housatonic Power Co. V.83, p. 1524. Trolley Express Co.
Water Co. V.80.p. 1914.
Village
268.
p.
79,
V.
By.
Meriden Electric
Webster & Dudley Street By.
Meriden Horse RR. V.79, p. 268.
Meriden Southington & Compounce Wallingford Tramway Co.
West Shore By. Co. V. 78, p. 989.
Tramway Co. V.83. p. 1524.
Middletown Street By. V.79, p.268. Willimantic Trac. Co. V.81. p. 1176.
Montville Street By. V. 79, p. 268. Winchester Ave. By. V. 78, p. 989.
New England Investment & Security Woonsocket St. By. V. 83. p. 1290.
Worcester & Connecticut,EasternRR
Co. V. 83, p. 492, 1100.
V. 79, p. 268.
New England Navigation Co. V.84.
I Worcester & Webster Street By.
p. 1052.
Formerly also owned several trolley roads in Massachusetts, but in 1906
these were turned over to the New England Investment & Security Co.,
except the Worcester & Webster and the Webster do Dudley, which are
leased to the Consolidated By. by virtue of an Act of the Legislature of 1901.
V. 83, p. 492. In 1907 acquired through purchase the New England Navigation Co. V.84, p. 1052.
The N. Y. N. H. & H. RR. offered to exchange $100 of its stock for $200
of certain issues of this company's debentures. See V. 82, p. 803, and
V. 83, p. 1037. $17,347,000 of debentures have been so exchanged for
$8,673,500 N. Y.N H. & H. RR.stock. See V. 84, p. 1114. The following shows the details for each issue of debentures:
Debentures of TheConsolidated Railway Company.
Still Out,
Exchanged
for Stock. Exchange'ble
Issued.
Authorized.
Issue646,000 a$4,354,000
July 1 '04, 50-yr., 4g J-J. $5,000,000 $5,000,000
1,650,000 a2,350,000
Jan. 2 '05, 50-yr., 4gJ-J _ 4,000,000 4,000,000
2,159,000 a1,341,000
Ap. 1 '05, 50-yr., 4g A-0. 3.500.000 *3,500,000
7,892,000 a2,108,000
Jan. 1 '06, 50-yr., 4g J-J., 10,000,000 *10,000,000
5,000,000
5,000,000
Mch.1 '07,10-yr.,5 %,con_ 15,000,000
Total exchangeable ___$a7,500,000 $27,500,000 $17,347,000 $10,153,000
Feb. 1 1905, 25-yr., 3,33,6
1 ,000,000 Not exchange'le for stock
1,000,000
and 4 g F-A
Total of all
$38,500,000 $27,500,000 $17,347,000 $11,153,000
* Guaranteed, principal and interest, by N. Y. N. H. & H. RR.
a These amounts cannot be increased, as remainder of issues has been
canceled.
The debentures are in coupon form of $1,000 each and fully registered
debentures of $10,000 each, which are non-interchangeable. Interest may
be collected in New York City and Boston.
Outstanding. Maturity
Date.
Interest.
BONDS$283,000 Sept. 1 1933
5 g M-S
) 1893
N H & Centerville first mtge.
gold, assumed by F H do WI'
New Haven Street RR.600,000 Sept. 1 1913
5 g M-$
First mtge gold, $600,000J 1893
c*f Int. at Amer. Tr. Co., Boston, 'Jr., or N.Y.
($500 and $1,000).
5 J-D
250,000 June 1 1914
First purchase M $250,000 fa 1894
($1,000) not subj to call-cl Int. at American Tr. Co., Boston, Trustee.
5(10,000 Nov. 1 1912
Winchester Avenue first mort-I 1802 5 g M-N
c*)Interest at Boston Safe Dep. & Tr. Co., Bosgage, gold
) ten, Trustee, or New York.
5 J-J
30,000 July 1 1914
West Shore By first mortgage 1894
$30,000, gold, subj to call_ Int. at Merchants' Nat. Bank, New Haven.
150,000 Dec. 1 1919
5 g J-D
Worcester & Webster 1st M 1899
$150,000 ($1,000), gold_c* Int. at International Tr. Co. Boston, Trust.
30,40 Nov. 1 1919
5 M-N
Webster & Dudley mortgage... 1899
2,500,000 Sept 1 1930
4 g M-S
Hartford St. By. now ist trite') 1900
$3,000,000 ($1,000) g_ _ _c*}Conn. Tr. & Safe Dep. Co., Hartford, Trusj tee. Interest at New York or Boston.
165,000 Jan. 1 1930
4 J-J 15
Hartford St By deben "M"..__ 1900
145,000 Jan. 1 1930
434 J-J 15
Hartford St By deben "N".... 1900
1,092,000 Jan. 1 1943
43i g J-J
Wore & Conn East 1st M s f FrJ 1902
$3,100,000 ($1,000) ___ c*' Interest at New York Trust Co., Trustee.
200,000 Oct. 1 1924
5 A-0
Hart Man & Rock first mtge) 1894
$300,000 ($1,000) gold_ ..I
85,000 Oct. 1 1911
5 A-0
- gl 1891
Meriden Horse RR first mtInterest at First National Bank, Meriden.
$100,000 ($1,000)
415,000 Jan. 1 1924
5 g J-J
Meriden Horse Railroad con- 1894
•sol. mort., gold, $500,000...4 Interest at Girard Trust Co. of Philadelphia
(State Treasurer of Connecticut, Trustee.
160,000 July 1 1913
5 J-J
1
Woonsocket St By first mtge,1893
$200,000 ($1,000 each) _ _ _ Int. at Rhode Isl. Hospital Tr. Co., Prov.,Tr.
334.000 Jan. 1 1925
5 g J-J
Prov & Bur RR first mtge 1905
$750,000, gold ($1,000) _ _c Int. at Rhode Isl. Hospital Tr. Co., Prov.,Tr,
175,000 July 1 1928
5 g J-J
Mer South do Comp 1st M g,1 1898
Optional at 110 and interest.
$200,000 ($1,000) c*, call-}
able at 110 since 1003
I Interest at Trust Co. of America, New York.
$4,666 Jan. 1 1928
5 J-J
Ben do H V first mtge $250,-J 1897
000 g ($500 do $1,000)-_c Int. at International Trust Co., Boston, Trus.
150,000
Oct.2 1923
A-0
g
5
1893
rstj
li
By
Street
New London
Interest at American Trust Co., Boston.
mtge, $150,000, gold
150,000 Dec. 1 1917
5 g J-D
Torr & Win first mortgage, 1897
c* Int. at Huriburt Nat. Bank, Winsted, Conn,
$150,000, gold
350.000 Oct. 2 1923
5 g A-0
Norwich Street By first nage 1893
$350,000 ($1,000), gold__ Interest at American Trust Co., Boston.
Date. Interest. Outstanding. Maturity.
250,000 May 1 1920
5 g M-N
Montville Street By first mtge) 1900
$350,000 ($1,000). gold }Interest at American Trust Co., Boston.
(cannot be called)-- --c0 I
$450,000 Oct. 1 1931
5 g A-0
NY & Stam first mtge,$4504 1901
.c*lInt. at New York Trust Co., N. Y., Trustee.
000 ($1,000) gold
320,000 July 1 1931
5 g J-J
Greenwich Tramway first) 1901
gage, $400,000 ($1,000),}Interest at New York Trust Co., New York.
c*) State Treasurer of Connecticut, Trustee.
gold
150,000 Dec. 1 1914
5 J-D
Midd Horse RR 1st g ($500)_ _ 1894
30,000 Nov. 1 1916
5 M-N
Portland St By first mortgage_ 1896
63,000 Oct. 1 1937
5 g A-0
Branford Electric Co first M_ _ _ 1897
5 g F-A
307,000 Aug. 1 1951
,Iranford Ltg & W lstcon M._
1,000,000 Aug. 1 1932
1 2w Milford Power Co 1st M ---- 5 F-A
5
200,000 July 1 1956
S ,treld Springs St fly 1st .
subject to call. All
not
By.
are
debentures
Consolidated
•m, ds.-The
th Aebentures have printed on their face the statement that if a mortgage
Is made on any or all of the company's property which was owned on Jan. 1
1905, except to renew existing mortgages, the debentures shall participate
In the security of such mortgage. The debentures due in 1930 bear 3%
interest from Feb. 1 1905 for first 5 years,3H % for next 5 years, and 4% for
following 15 years, and were issued to pay for acquiring the Berkshire Street
By.(V. 80, p. 471),which company was subsequently acquired by the New
England Investment & Security Co. whichi see below. The $3,500,000 debentures due April 1 1955 were Issued to acquire the Hartford Street Ry.
The $10,000,000 debentures of Jan. 1906 were Issued to the N. Y. N. H. &
Hartford for advances.
The Winchester Avenue bonds are joint obligations of the Winchester
Avenue RR. Co. and the New Haven de West Haven and cover all property
owned or to be hereafter acquired under the charters. Of the Worcester
& Connecticut Eastern bonds, II) more will be issued. A sinking fund on
these bonds commences in 1908 of not to exceed 1 n of bonds outstanding.
Bonds can not be called, but may be bought on a 3 % basis or better, and
kept alive for sinking fund. See V. 75, p. 1204. On Woonsocket St. By.
bonds a sink,fund of $5,000 per ann. began July 11898. Of the Montville St.
By. 1st mte•e. gold bonds,the balance unissued can only be issued for 66% of
actual certified cost of improvements or additions to property. Original
mortgage of the Montville Street Ry. provided that bonds might be called
in 1905 at 105, but through a supplemental mortgage this redemption clause
was eliminated, so bonds are not now subject to call. On the Worcester &
Webster bonds $3,000 is payable annually into a sinking fund. These
bonds cannot be called before maturity.
REPORT.-For the 11 months ending May 31 1907, before consolidation with New York New Haven & Hartford:
$2,885,272
$5,323,854 Total income
Gross earnings
•2,696,906
3,397.518 Fixed charges
Operating expenses
Net earnings
Other income
$1,926,336
958,936
Surplus
$188,366
*Including $160,701 guar N. E. I. & S. Co.
Fare passengers carried numbered 100,480,951.
ROM).-Operates lines serving the following cities and towns: Cities of
New Haven, Hartford, Bridgeport, Waterbury, New Britain, Meriden,
New London, Norwich, Middletown, Stamford, South Norwalk, Rockville,
Derby, Ansonia, and the towns of East Haven Branford, North Haven,
Wallingford, Hamden, Orange. Southington. Plainville. Putnam, Thompson, Killingly, Plainfield, Waterford, Montville, Norwich, Lisbon, Sprague.
Portland, Wethersfield, West Hartford, Farmington, Bloomfield, Windsor,
East Hartford, South Windsor, Manchester, Enfield, Glastonbury, Suffield •
Greenwich, Stratford. Witold, Huntington, Fairfield, Westport. Norwalk,
Darien, Naugatuck. Torrington, Winchester. Beacon Falls, Seymour,
Cheshire, Newington and Berlin, Connecticut; and the towns of Rye,
Port Chester, Harrison, Mamaroneck and New Rochelle, New York. Total
operated 640 miles, of which 411 miles owned and 229 miles leased. Cars
owned June 30 1007, 1,231; leased, 460; total. 1,691.
OFFICERS.-Pres., C. S. Mellen; Vice Prests.. Calvert Townley, H. M.
Kochersperger, E. H. McHenry; See.. J. G. Parker; Treas., A. S. May;
Asst, Treas., T. F. Paradise; Auditor, C. L. Campbell, New Haven; Gen.
Mgr. J. K Punderford.-V. 84, p. 102, 507, 995. 1052, 1113. 1242, 1367,
1425: V. 86, p. 1285, 1467.
(1) Connecticut Railway & Lighting Co.
Lease.-Leased for 999 years from Aug. 1 1906 to the Consolidated By.
Co., which latter has since been merged in the N. Y. N. H. & H. RR. Co.
Rental amounts to $975,000 for the year 1906-07 and increases gradually
to $1,400,000 for the year 1914-15 and for every year thereafter. The
common shareholders agreed to pay the Colonial Trust Co., trustee, $10 per
share on their stock, which, with the surplus rental received under the lease,
serves to provide a fund which, It Is announced, is sufficient to pay 4% per
annum on both com. and pref. shares. All the stock has assented to this
arrangement. Preferred shareholders agreed to accept 4% dividends during the term of the lease, Instead of 5%. V. 84. p. 507.
ORGANIZATION.-United Gas Improvement Co. of Philadelphia holds
controlling interest. Originally chartered in Connecticut March 2 1895 as
the Gas Supply Co. Charter amended and name changed March 2 1899 to
Connecticut Lighting & Power Co., for the purpose of uniting various street
ra lway and light and power properties in Connecticut. Name changed as
at present on Jan. 10 1001. V.71, p. 1269; V.72, p. 44. It is a consolidation of the following companies, whose franchises are said to be perpetual:
Norwalk & So. Norwalk El. Light Co.
Bridgeport Traction Co.
Norwalk Street Railway Co.
Central Ry. & El. Co. of New Brit.
Norwalk Tramway Co.
Derby Street Railway Co.
Shelton Street Railway Co.
Greenwich Gas & Electric Ltg. Co.
Southingt'n & Plantsville Tramway.
Milford Street Railway Co.
Waterbury Traction Co.
Naugatuck Electric Light Co.
Westport & Saugatuck Street Ry.Co.
Norwalk Gas Light Co
Improvement Co. and the Cheshire
Point
Roton
the
purchased
In 1904
See V. 79. p. 2696. Neither of these companies had any bonds
Street By
outstanding. Controls Naugatuck Valley Electric Railway Co.
Interest. Outstanding. Maturity.
STOCK AND BONDS.- Date,
See text
$8,977,200
Common stock ($100)
Pref 5% cum after Jan 1 19041
8.142,900 tug 15,'08.1 %
Q-F 15
($100) (reduced to 4% un-}
der lease to New Hay. Co.)
12,491,378 Jan 1 1951
1st & ref $15,000,000 gold) 1901 4% g J-J
($1,000) sinking fund...es'Int. at Trust Co. of Amer.. N.Y. Trustee.
July 1 1923
706,000 J
5 g J-J
rt 1 1893
Bridgeport Traction moFidelity Tr. Co.,Co . Newark, N. J
{
elTrustee,
gage gold ($1,000)
(Interest at Redmond & Co., New York.
59,700 April 1 1914
6 A-0
Derby Street Railway mort-). 1894
gage
J Redeemable after April 2 1904,
209.000 Jan 1 1939
5 J-J
Connecticut Lighting & Power 1899
Bonds.-3974.700 of bonds are reserved to retire the prior bonds still out.
The remaining $1,533,922 was reserved for extensions or betterments, but
under lease to the New Haven road cannot be issued for any purpose without
consent of lessee. V. 84, p. 507. Statement to New York Stock Exchange
In V. 73, p. 852: also V. 79. p. 2745; also V. 85. p. 921.
Bonds were formerly not subject to call, but on June 23 1904 a supplemental mortgage was made giving the right to call bonds on any interest
date at 105 and interest, and establishing a sinking fund of M of 1 % per annum on bonds outstanding; bonds acquired by the sinking fund are to be
kept alive and bear interest. Bondholders assenting to the supplemental
mortgage had their interest guaranteed by the United Gas Improvement
Co. by endorsement. See V. 79. p. 626, for form of guaranty. Offer expired Oct. 1 1904 and was accepted by $10,782,000 of outstanding bonds.
See V. 83, p. 969.
Dividends.-Preferred stock was issued in satisfaction of unpaid accumulations of dividends on preferred shares to Aug. 1 1906. Dividends since
on pref, stock have been 1 % each quarter. On corn., stockholders who accented Man deardbfd above 0 nder lease) were naid 1% Nov. 1 1907. 1%
Feb. 15 1908, 1% May 15 and 1% Aug. 15. Non-assenting stockholders
received a dividend of 15 cents Nov. 11907, 15 cents Feb. 15 1908 and 15
cents May15, after which all stock became assenting stock.
ROAD.-The railways embraced comprise 193.48 miles of track, teaching
Milford. Bridgeport, Stratford, Southport, Shelton, Derby, Ansonia, Seymour, Westport, Saugatuck, Norwalk, South Norwalk, Darien and Stamford; also lines in Naugatuck, Waterbury. &c. System connects with the
Fair Haven & Westville Railroad Into New Haven from Bridgeport and
Derby, and company also has a traffic contract with the Hartford Street
Hy. for reaching Hartford. Gauge,4 feet 8J4 Inches. 56 to 90-lb. rails.
EQUIPMENT.-Total cars, 474; closed passenger, 199; open passenger,
201; miscellaneous, 74. Car barns, 20; also 4 complete electric light
plant.; also owns ras plant at Norwalk and operates gas plant at Waterbury
REPORT.-Fcr year endinn• June 30 1906. gross Income, $2,499,314;
net, $1,098,392; taxes and charges, $711,441; surplus, $386,951.
72
ELECTRIC RAILWAYS
[VOL. Lxxxvir.
OFFICERS.-Pres., A. M. Young; V.-Ps., Randal Morgan and H. G.
Bonds.-The Berkshire Street By.
of 1902 are not subject to call.
Runkle:1 Sec.. W. H. Marshall; Tteas., Lewis Lillie. Main office, Bridge- Interest is payable and bonds may bebonds
registered at office of N. W. Harris
port, Conn.-V.84, p. 390, 507. 1113, 1366; V.85, p.921; V.86, p. 228
& Co., Boston. The Berkshire Street Ry. debentures are guaranteed by
Consolidated By. Co.
NEW ENGLAND INVESTMENT & SECURITY CO.
EARNINGS.-For fiscal year ending Sept. 30 1907: Gross, $40J,286.
ORGANIZATION.-Is a voluntary association and was organized on net, $110,871: Interest and taxes, $112,464: deficit, $1,593.
ROAD.-Operates from Pittsfield through Cheshire to Great Barrington,
June 25 1906 to take over the street railway properties in Massachusetts
formerly controlled by the Consolidated Railway Co. V. 83, p. 492. 42.234 miles; 11.66 miles on private right of way; 70-lb. T-rail. Also 26
Sutts.-In June 1908 Mackay & Co. of New York brought suit In Con- miles from North Adams to Pittsfield, 6 miles from Adams to North Adams
necticut with a view of obtaining from Supreme Court of Errors a decision and 2 X miles from Williamstown to Vermont State line. Total, about 71
sustaining action of New Haven Co. In issuing securities of the company mites of track.-V.84, p. 995; V. 86, p. 1099.
and of subsidiary companies under special authority of General Assembly
(3) Central Massachusetts Electric Co.
of Connecticut. without having first obtained permission of Legislature of
ORGANIZATION.-In 1907 the New England Investment Co. acquired
Massachusetts. A formal order favorable to plaintiff has been entered a maiortty of the stock.
andtan appeal taken therefrom. V. 86, p. 1590.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
On July 15 1908 Kidder, Peabody do Co. of Boston filed a suit in Supreme Stock
$150,000 Aug 17'03,8
Judicial Court of Massachusetts with a view of obtaining a decision sustain- First mortgage,$150,000 gold 1894
6 g F-A
.
0
.0
1 l924
($1,000 and $500)
Ingivaildity of the guaranty of the 4% preferred stock of New England
c Int. at International Tr.
15
C0o, Boston, Trust.
Inveatment dc Security Co. by Consolidated Ry., and liability of New Haven Coupon notes, $60,000($1,000 1904
5 g M-N
60,000 May 1 1924
and $500) gold
road therefor by reason of Its merger with the same. V. 87. p. 167.
clInterest at Essex Trust Co., Lynn, Trustee.
Bonds.-First mortgage bonds have a sinking fund of $2,500
SECURITIES OWNED.-The following is a list of securities held by the
annually,
commencing Feb. 1 1904. Cannot be called. The
coupon notes can be
New England Inv. dc Security Co. (see V. 83, D. 1100).
called on any interest day after May 1 1909 at 103. Sinking
Worcester do Southbridge Street Ry.-Entire ($750,000) capital stock.
fund of
$2,000
$3,000
to
annually,
beginning 1909.
Worcester to Blackstone Valley St. Ry.-Entire ($200,000) capital stock.
Uxbridge & Blackstone St. Ry.-Entire (3120,000) capital stock.
(4) Worcester & Blackstone Valley Street Ry.-A trolley road.
Milford Attleboro 63 Woonsocket St. Ry.-$315,000 capital stock.
ORGANIZATION.-Owns 16.36 miles of trolley. Opened
Aug. 14 1897.
Worcester Rys. & Investment Co.-88,365 shares of stock out of a total Road located in Worcester, Millbury,
Sutton, Grafton and Northbridge.
of 78,8,)1 shares.
Capital stock, $200,000 ($100), all outstanding; bonds, $200,000.
Current
Springfield Railway Cos.-50,000 shares (entire issue) of common stock. liabilities Jan. 31 1908, 335,000. The
from Millbury to WorSpringfield Ry. Cos.-3570,350 out of a total of $3,387,950 pref. stock. cester, a distance of 6 miles, was finishedextension
in Oct. 1901., thus completing the
(Spring. By. Cos. owns 19,253 out of a total of 22,581 snares of Springfield line from Worcester to Whitinsville, a total
of 18.36 miles.
Street By. and entire $550,000 stock of Western Mass. Street Ry.)
DIVIDENDS.-In July 1899, 4%; 1900, July, 4%; none since.
Springfield Street Ry.-$306.600 capital stock.
EARNINGS.-For year ending Sept. 30 1907, gross, $85,348; net, $34,Berkshire Street Ry.-$1,628,800 out of a total of $1,648,100 capital stk. 705: charges, $15,686; surplus, $19,019.
Hartford & Worcester Street Ry.-Stock rights in 2,999 shares of stock.
(5) Uxbridge & Blackstone Street Ry.
Springfield 46 Eastern St. By.Co.-$881,000 out of a total of $900,000.
STOCK AND BONDS.- Date,
Interest. Out$slta
2n
0.
d0t00
ng. Maturity.
Central Massachusetts Elec. Co.-A majority of the $150,000 stock issue. Stock
In
STOCK AND BONDSDate.
Interest. Outstanding. Stock Div. 1st mtge $80,000 ($1,000)..-cj
1923
at m5
i.,6
80,000 Feb 2 1923
Common. $10,000,000
$100,000
erca
Pn-tAlle Tst
Trust4C
5o
..
4,
03
Boston, Trust
Pref.. 4 %.$10.000,000(3100)1
liabilities Sept 30 1907
Current
See text.
4 J-J
I
4,000,000
EARNINGS.-For year ending Sept. 30 1907, gross. 329,692; net, $11,%
Stock.-Dividends of 4% per annum on the pref. stock are July'08.2
cumulative 623; charges, $9,199; dividends (2%), $1 ,620; surplus, $804.
and are guraanteed by the Consolidated By. Co. (now merged in the New
ROAD.-Operates
miles of track connecting Whitinsville. Uxbridge
York New Haven & Hartford RR.). and also $105 per share in case of and Miliville. V. 84,9.89
p. 1429; V. 85, p. 223.
liquidation. V. 83, p. 492. See form of guaranty In V. 83, 1102. This
(6)
Worcester
Southbridge
Street Ry.-A trolley road.
&
stock may be called as an entirety at any time at 105 and accumulated
Is a consolidation of the Worcester & Southbridge St. By. the Worcester
dividends.-V. 85, p. 864; V. 87, p. 167.
Rockdale & Chariton Depot St. By. and the Southbridge & Sturbridge St.
(1) Springfield Railway Cos.-A holding company.
By. V.77, p. 512, 770, 1228.
STOCK AND BONDS.-- Date.
Interest.
ORGANIZATION.-Formed in March 1905 to hold a majority of the
Outstanding. Maturity.
stock of the Springfield Street By. Is managed by a board of trustees Stock $750,000 ($100)
$750,000
____
consisting of seven members. V. 80, p. 1363. Also owns all the stock of Wor & South 1st mtge (See) 1902 04 g M-S
500,000 Sept 1 1922
text) gold ($1,000)
the Western Massachusetts Street Ry.-$550,000.
c*JInt. at Internat. Turst Co., Boston, Trustee.
STOCK AND BONDS200,000 June 1 1925
Interest. Outstanding. Last Div. Wor 44 South mtge (See text)._ 1905 4 yi g J-D
Date.
Common
15
All owned by New Eng. Inv & Sec. Co. Current liabilities Jan. 31 1908 ___ _
Bonds.-The two issues of bonds of the \‘ orcester & Southbridge St. By.
Pref. 4%,cum., guar. 0100)- ---$3,387,950 July'08, 2%
4 J-J
Stoeic.-The pref. stock is redeemable on or after Jan. 1 1906 at 105 and are secured by the same mortgage, the mortgage providing that bonds can
accrued dividends. These dividends are guaranteed by the N. Y. N. H. be issued up to $1,000,000, and are to bear date of issue and be payable
& H. RR. Co., successor to Consolidated By., as well as their payment at 20 years after date.
ROAD.-Operates about 50 miles of road; 70-lb. T-rall.
105 in case of linuidalon or call. See V. 80, p. 1363, 1914.
EARNINGS.-For year ending Sept. 30 1907: Gross, $229,019; net.
(a) Springfield Street Ry.
-A trolley road.
$105,336; charges, $61,387; surplus, $43,949.
ORGANIZATION.-Incorporated March 5 1868. In Oct. 1905 leased
(7) Worcester Railways & Investment Co.
the Springfield de Eastern Street By. for 25 years at 4% on the stock.
V. 81, p. 1175, 1316. Massachusetts Railroad Commissioners In March • In 1908 control was acquired by the New England Inv. & Security Co.
1907 approved the Issue of $300,000 additional stock at 170, raising total Minority shareholders were offered the right in Oct. 1906 of exchanging
stock to $2,258,100. In May 1907 application was made to issue a further their stock for pref, stock of the New England Co. See V.83, p. 1100.
This is a voluntary association formed in 1901 and owns the entire capital
amount of $500,000 capital stock, to provide for floating debt and additions
stock (except only enough shares to qualify directors) of the Worcester
to plant. V. 86, p. 1101. Not yet acted on.
Consolidated
Street By.Co.and of certain other Massachusetts corporations
ONDS-Date.
I
STOCK AND B
Outstanding. Maturity
which are engaged in enterprises closely identified with that of street railway
Stock, $2,258,100 ($100)
Text.
-- -$2,258,100
Teas.
transportation.
4 g A-0
New 1st M.. $1,500,0001 1903
1,500.000 Apr. 1 1923
The holdings comprise 35,4 11 shares Worcester Consolidated St. By.
c*ISpringfield Safe Dep. & Trust Co.. Trustee.
gold ($1,000)
stock; 8,500 shares Electric Manufacturing Co.; 2,000 shares of QuinsigaNotes payable Jan. 31 190
320,0 )))
mond Park Co.; 28 shares of Worcester de Shrewsbury RR.; 1,600 shares
DIVIDENDS.-In years 1893 to 1907 inclusive 8% per annum.
ROAD.-Owns 92.457 miles (Inc. 23.198 miles of 2d track) of main track of Marlboro & Westboro Street By. and $84,600 demand notes of that comand 7.071 miles of sidings. Total 99.528. This does not include the mile- pany, and $14,700 (par value) of notes of Leominster & Clinton Street By.
Also owns $330,000 1st tntge. 5% bonds of Electric Mtg. Co. and a majority
ge of the Springfield & Eastern.
EARNINGS.-For years ending Sept. 30 earnings (including earnings of of shares of Worcester & Holden St. Fly. Co.
STOCK.-Outstanding, 78.611 shares of beneficial Interest, of which
tne Springfield & Eastern):
shares have been exchanged for the 4% preferred stock of the New
1906-07. 1905-06.
1906-07. 1905-06. 88,365
England Inv. & Sec. Co. Deed of trust provides that all shares shall be
non-assessable, that there shall be no personal liability of the shareholders,
Gross earnings_ _1 ,306,728 1 229,028 Dividends paid
that no pledge or mortgage of the securities held shall be made without the
394,929
Net
352,156
(8%)
168,860 156,672 consent of two-thirds of the shares, and that
no additional shares shall be
221,300
Taxes, &c
206,776 Balance for year
4,969
non-assessable, that there shall be no personal liability of the shareholders.
Interest
Tot. sur. Sept.30 367 530 def.10,292
-V.81, p. 1175; V. 84, p. 627; V. 85, p. 1271; V. 88, p. 1101. 130,116 that no pledge or mortgage of the securities held shall be made without the
consent of two-thirds of the shares, and that no additional shares shall be
(b) Springfield & Eastern Street Ry.-Trolley.
issued without a two-thirds vote. Shares are said to be exempt from taxaORGANIZATION.-In Oct. 1905 was leased to the Springfield
St. By. tion In Massachusetts.
for 25 years at 4% on stock. V. 81, p. 1175, 1316. This company
DIVIDENDS.
-Dividends of $2 25 per share were paid in Feb.andAug,
was
formerly the Palmer 46 Monson St. Ry., but In May 1901 name was
changed 1902; in 1903, Feb.,$2 25; Aug., 32 25. In 1904, Feb., 32 25; Aug.,$2 25.
as above. In July 1907 the Massachusetts Railroad Commission authorized
In 1905. Feb. $2 (see V. 80, p. 224); Aug., 32; Nov., $1 (V. 81, p. 1243).
the company to Issue $530,000 new stock. V. 85, p. 223. Included
In In 1906, May, $2; Nov., 32. In 1907, May, $2; Nov., $2. In 1908,
outstanding total below.
May, 13i %.
STOCK do BONDS-Date.
Interest. Outstanding. Maturity.
EARNINGS.
-For calendar year 1907 gross Income, 3230,266; expenses,
Stock,$900,000 ($100)'
82, p. 102 ta 336, 630,
$900,000 See text.
$1,897: dividends, $297,178; deficit, $68,809.-V.
mortgage.
$500,000,1 1902
1st
5 g .I-J
330,000 Jan. 1 1922 871; V. 83, p. 1100; V. 84, p. 627.
gold ($1,000)
c*f Int. at Hampden Tr. Co.. Springfield, Trus.
Consolidated Street Ry.-Trolley.
Worcester
(a)
Current liabilities Sept. 30 1907
93,525
This company, which was incorporated in 1869, absorbed by consolidaBonds.-Remainder unissued is reserved for 50 p. c. a the cost of imtion March 1 1901 the Leominster do Clinton, the Fitchburg de Suburban
provements and extensions. Are subject to call after Jan. 1 1907 at
110;
Street
By. the Clinton & Hudson Street By., the Worcester & Clinton St.
after Jan. 1 1912 at 1073i, and after Jan. 1 1917 at 105.
Ry.,the Worcester 46 Marlboro and the Worcester & Suburban. Franchises
ROAD.-Fifteen miles from Monson through Palmer to Ware and 5 perpetual.
In 1895 leased for 99 years the North End St. Ry.,of 5.13 miles,
miles from Palmer to Bondsville and Three Rivers; also an extension of 9
at a yearly rental of $8,000. The North End has $110,000 ($100) capital
miles from Palmer to Ludlow; an extension from Monson to Fiskdale, about stock
and $75,000 5% 1st mtge. bonds, due Feb. 1 1915; interest F. & A.
completed
in
1907: total, including sidings, 40.118 miles
1.2 miles, was
All the stock of the Worcester Consolidated St. By. has been acquired
-V.81, p. 1175, 1316, 1494; V. 85, p. 42, 223, 655.
by the Worcester Rys. & Inv. Co.
On Oct. 9 1907 Massachusetts Railroad Commission approved an issue of
(c) Western Massachusetts Street Ry.-A trolley road.
ORGANIZATION.-Incorporated in Massachusetts. Purchase of Woro- $1,000,000 debenture bonds for taking up floating debt and for additions
noco Street By. and Issue of $250,000 additional stock for that purpose and Improvements. V. 85. p. 922. In Dec. 1907 Mass. RR. Commission
approved by Massachusetts RR, Commission April 1907. V. 84, p. 1054. also sanctioned an additional issue of $200,000 bonds. V. 85, p. 1520.
Both issues included In outstanding total of debentures dated 1907 given
Stock now $550,000, all owned by Springfield Rys. Co.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity. below. In May 1907 permission was asked to issue 3922,000 bonds to
retire floating debt and 52,260.000 bonds to retire funded debt. V. 86,
Stock $550,000
$550,000
1st mortgage $1,000,000 goldl 1906
5 g F-A
200,000 Feb 1 1926 p. 1346. Not yet acted on.
Petitioned Mass. RR. Comm. Dec. 1907 asking sanction of sale of new
(51,000)
Int. at Springf'd S. D. & Tr. Co., Trustee.
Woronoco Street By first 1900
5 g J-J
75,000 Jan. 1 1920 stock. V. 85, p. 1647. Not yet acted on.
Interest. 0
Date.
$u13t:
STOCK AND BONDSs25
7
500
mortgage gold (51,000)..-.Springfield Safe Dep. 6:16
nd
:00io
n00
0.Nino.
T
Trust
M
v
0,8 Co., Trustee.
07
a.5
1
tu1r12
1
1/.
Stock $4,050,000 ($100)-----Current liabilities Sept 30 1907
Bonds.-Are subject to call as a whole, but not in part, on or after Jan. 1 Wo
$r1c
ted debj 1907
.e
3s
0o1r1o.0
6t4e.r00C
00
a)
lid
'Interest 5
agency of company.
atM-Nm_s
1916 at 108 and Interest on 6 months' notice.
70
Wore Con deb gold $840,000_ - 1900
ROAD.-Operates 25.757 miles of track in Westfield, West
60.
4.!.i g
.0
50
00 011Inchdemi.
5
Russell and Huntington. 70-lb. T rail.-V. 84, p. 160, 1054.Springfield, Real estate mortgages------- - - - demand.
5 g A-0
Worcester 6: Marlborough 1897
200,000 Oct 1 1917
(2) Berkshire Street Ry.-A trolley road.
American Trust Co., Boston, Trustee.
first
$200,000
mortgage
sOn June 12 1908 a bill to permit the Berkshire Street By. to
6 A-0
45,000 April 1 1912
the Leominster & Clinton St By 1897
stock of the Bennington & North Adams Street RR. was killed purchase
in the Mass.
15-year coupon notes
House of Representatives.
5 g J-J
Worcester & Clinton first 1890
115.000
Jan 1 1919
ORGANIZATION.-Incorporated in Massachusetts on June 20
mortgage gold ($1,000)__ _ AMeriCall Trust Co., B
1o31816
8n
,0
,0T
1901.
0rustee.
Franchise perpetual. In 1906 absorbed the Hoosac Valley
1,188,000
Street By. Floating debt Jan 31 1008
through exchange of stock. Received authority to issue $250,000
about 184 miles of track, comprising practically the
more
stock at par In April 1907, increasing total to $1,648,100. In
1907 entire street railway mileage of Worcester, together with lines to Fitchfurther annlication was made to issue $285 000 additional stock toMay
fund the burg, Leominster, Lancaster, Hudson, Boylston, Berlin, Clinton, Westfloating debt and for additions to plant. V. 86, p. 1099. Not yet
acted boro, Marlborough, Northborough, Shrewsbury, Grafton, Millbury. Leiceson.
ter and Spencer.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity,
EARNINGS.-For year ending Sept. 30 1907: Gross, $1,641,264: net,
Stock, $1,648,100 ($100)_
$1,648,100
$558,187; charges, $362,154; dividends, $195,250; surplus, 5783.-V. 85.
1st mortgage $800,000 gold' 1902
5 g J-D
800,000 June 1 1922 p. 022, 1340, 1520, 1647; V. 8(3, p. 1346.
($1,000)
c*f Girard Trust Co. Philadelphia, Trustee.
(b) Marlboro & Westborough Street Ry.-Trolley, controlled by
Berkshire Street Ry deb
1905
5g
200,000 Mch 1 1925 Worcester Etys. & Investment Co.
Hoosac Valley 1st mtge.....( 1897
5 J-J
100,000 July 1 1917
STOCK AND BONDSInterest. Ou$ts11t6a600n:dsioonoog. Maturity.
Date.
lint. at New Eng. Tr. Co., Boston, Trustee. Stock
Hoosac Valley ref mtge $400,-1 1904
4 g 51-S
300,000 Sept 1 1924 1st mtge $160,000 gold (51.-1 1901
5
g J4
July
000 gold ($1,000)
J Int. at Berkshire L. 6: Tr. Co.. Pittsf., Trus.
000) red 105
0'fInt. at Amer. Trust Co., Boston, Trustee.
Loans payable Jan 311008_
3413 067
"Current liabilities" Sept 30'07
85,910
SEPT., 1908.]
EARNINGS.-For year ending Sept. 30 1907. gross, $31,253; net,
$12,626; charges, $14,946; deficit, $2,320.
ROAD-Conssts of about 14 miles of track.
(c) Worcester & Holden Street Ry.-Trolley.
In Jan. 1908 control was purchased by Worcester Rys. & Investment Co.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$150,000
Stock
150,000 Oct 1 1923
1903
5
a
($1,000)
mtge
1st
49,661
"Current liabilities" Sept 30'07
gross, $43,722; net, $9,576;
EARNINGS.-For year ending Sept. 301907,
charges, $10,678; deficit, $1,102.
ROAD.-Consists of about 10 miles of track.
PROVIDENCE SECURITIES COMPANY.-
ORGANIZATION.-Chartered in Connecticut March 14 1883 under the
name of the New England Loan & Trust Co. Name changed to the Providence Securities Co. Jan. 11 1907. On Aug. 27 1907 the Rhode Island
Securities Co., all of whose assets had been purchased by this co., was dissolved. V. 85, p. 349, 1344. These assets included all the stock of the
Rhode Island Co. Entire stock of Providence Securities Co. Is owned by the
N. Y. N. H. de H. RR.. which guarantees the debentures, prin. and Int.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$50,000
Stock $250,000
4 g M-N
19,899,000 May 1 1957
Deb g g-u ($1,000) $19,910,- 1 1907
c*JInterest in New York and New Haven.
000; can be called
Bonds.-The debentures are listed on the New York Stock Exchange.
V. 84, p. 1114. They are guar. prin. and int., by the N. Y. N. H. &
in
RR. and bonds bear the following endorsement: "In case of any defaultH'
the punctual payment of the principal or of the interest of the within debenture, according to its tenor and effect, the New York New Haven & Hartford
RR. Co. for value received, agrees to pay the same on demand." They
are subject to call on or after May 1 191'7 at 105 and interest.
OFFICERS.-Pres., C. S. Mellen; Sec., John G. Parker; Treas., Augustus S. May; Asst. Treas., Thos. F. Paradise. Transfer office, Room 3,
Grand Central Station (42d Street side), New York City.-V. 85, p4347,
1344.
(a) Rhode Island Co.
ORGANIZATION.-Created in 1902 by Special Act of the Rhode Island
Legislature. Leases the Union Railroad Co., the Pawtucket Street Railway
Co. and the Rhode Island Suburban Railway Co-see terms under United
Traction & Electric. below. The Rhode Island Co. has no bonds. In
June 1907 purchased the Providence & Burrillville Street By., the Columbian Street By. and the Woonsocket Street Ry. companies. V. 84, p.
1368. The Providence Securities Co. owns all the stock of this company.
Maturity
Interest. Outstanding.
Date.
STOCK AND BONDS.$5,381,000
Stock, par $100
160,000
Woonsocket St. By. mtge-- - 254.000 Jan 1 1925
5 g J-J
Prov. & Bur. St. Ry. 1st m.,1 1905
$750,000, gold ($1,000) _c(Int. at Rhode Isl. Hos. Tr. Co., Prov., Trus.
Bonds.-A sinking fund on Prov. & Bur. St. By. bonds of $5,000 per
annum begins Jan. 1 1910. They are subject to call on any Int. date after
1000 at 105 and Interest.
ROAD.-The Rhode Island Co. operates 307.59 miles of track. It
serves the cities of Providence,Pawtucket and Central Falls,and the towns
of Cranston, Warwick, North Providence, East Providence, Johnston,
Cumberland, Lincoln, Barrington. Coventry, Scituate, Warren, Bristol
and East Greenwich. Its equipment consists of 824 passenger cars, 31
freight cars and 141 miscellaneous cars; total, 996.
EARNINGS.-For year ending June 30 1907, gross, $3,859,715; in
1906, gross, $3,561,242.
(b) United Traction & Electric.
ORGANIZATION.- United Traction & Electric Company, chartered in
New Jersey, owns the Union Railroad Co. of Providence, the Pawtucket
Street By. Co. and the Rhode Island Suburban By. Co., and thus control3
the entire street railway system of the cities of Providence, Pawtucket and
Central Falls, and of the counties of Kent, Washington, Bristol and Providence.
The Union RR. Co., the Pawtucket St. By. Co., and the Rhode Island
Suburban By. Co. have been leased for 999 years from July 1 1902 to the
Rhode Island Co. for an amount of rental permitting the United Trac. &
Electric, the owner of the shares of the three leasing companies, to pay its
yearly fixed charges and dividends of 5% on its stock.
STOCK AND BONDS.Date.
Interest. Outst'd'g.
Stock
$80000000c 081 X
5 Q-J
United Tr & El Co, Prov dc} 1893
8,894,000 Mch 1 1933
5 g M-S
Paw issue, 1st (coil) mtge Interest at Central Trust Co., N. Y., Trustee.
($1,000) gold
Dividends.-Company started paying dividends with 1% in 1897. In
18983% was paid; in 1809, 3'%%:in 1900,4%:In 1901,4%;in 1902. 44%:
1903 to 1907, inclusive, 5% per annum; in 1908, Jan., 1X %; April, 14 Vo:
July, I X %; Oct., 1 X %
Bonds.-Total issue limited to 39,000,000, of which $8,000,000 were
originally issued to purchase and equip the properties. By the terms
of the mortgage the additional million was reserved to pay for new track,
which must be laid within 18 miles of the City Hall of Providence, R. I.,
for which bonds can only be issued at cost, but not exceeding $12,000 per
mile of such new track, including equipment; $894,000 of bonds had been
so issued up to latest dates.
SECURITIES PLEDGED.-The bonds are secured by the pledge of the
following securities deposited with the Central Trust Company of New
York, as trustee of the bondholders: All of the $9,000,000 capital stock of
the Union RR. of Providence, all of the $500,000 capital stock of the Pawtucket Street Re. (no bonds) and all of the $3,000,000 first mortgage bonds
of the Union 1112. of Providence, and, through the ownership of the Union
Railroad Co., $299,800 of the $300 000 capital stock, being all but two
shares, of the Providence Cable Tramway Co. (no bonds). The Providenee
Cable Tramway Co. Is leased to the Union italiroad Co. for 50 years far 6 tt
on Its capital stock.
TREASURY SECURITIES.-The United Traction & Electric Co. has
in Its treasury the entire capital stock ($5,000,000) of the Rhode Island
Suburban Railway Company.
(c )Rhode Island Suburban Railway.-A trolley road.
ORGANIZATION.-Chartered June 2 1899 by the Legislature of the
State of Rhode Island with power to construct, purchase, lease or operate
trolley roads in any part of the State, except Newport County. By the
terms of its charter it is vested with the power of eminent domain, and the
right to transport passengers, freight, express matter and United States
mall in any territory where it Is authorized to do business. Leased to
Rhode Island Co. June 30 1904.
Interest. Outstanding. Maturity.
STOCK AND BONDSDate.
$5,000,000
Stock, $5,000,000
4,682,000 Jan. 1 1950
4 g J-J
( 1000
1st mtg g.($1 ,000) guar. p.de I.( Union Trust Co., Providence, Trustee.
$5,000,000. gold
c*t Int. at office of the By. Co., Providence.
The United Traction de Electric Co. owns the entire capital stock and
guarantees the bonds, principal and interest.
Bonds.-There are reserved in the hands of the trustee $318,000 to take
up and retire $247,200 5% gold first mortgage bonds of the Pawtuxet Valley
Electric Street Railway Company and $70,000 6% gold first mortgage bonds
of the Cumberland Street Railway Company, the former issue being guaranteed, principal and interest, by the United Traction dc Electric Company,
which guarantees the payment of the interest on the Cumberland bonds.
SECURITIES PLEDGED.-The bonds are secured by a mortgage on all
the property owned or hereafter acquired by the company, and by pledge of
the following securities: 700 shares of the Cumberland Street By. Co.; 3,985
shares of the Pawtuxet Valley Electric Street Ry. Co. and 5,000 shares of
the Barrington Warren & Bristol St. By. Co.
ROAD.-Consists of 71 miles of track.
NEW LONDON, CONN.
NEW LONDON & EAST LYME ST. RY.-A trolley road.
ORGANIZATION.-Incorporated in Connecticut in 1899 as East Lyme
Street By. and name changed as above on Dec. 1 1904.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$80,000
Corn.. $155,000 ($100)
Pref., $70,000 6% cum.,
70,000
($100)
200,000 Apr. 1 1935
5 g A-0
1st mtge., $200,000, gold 1905
c* Int. at Thames Loan & Trust Co., Norwich.
($1,000)
Bond3.-Trustee is Treasurer of State of Connecticut. Bonds are subject
to call at any time at 120 and int.
73
ELECTRIC RAILWAYS
EARNINGS.-For year ending June 30 1907, gross, $43,756; net.
$16,114; fixed charges, $15,815; surplus, $299.
ROAD.-Operates 11 miles of track from New London to Mantic. 70-lb.
T rail. Standard gauge. 10 cars. Owns a park In Flanders.
OFFICERS.-Pres., Thomas Hamilton; V.-P., Walter R. Denison; Sec.,
F. P. Latimer; Treas., Philip C. Dunford; Supt., Lorenzo Bentley.-V.81.
p. 1396; V. 84, p. 159.
NEW ORLEANS, LA.
NEW ORLEANS RAILWAY & LIGHT CO,-Railway and lighting
system.
ORGANIZATION.-Incorporated in Louisiana on June 12 1905 as a reorganization of the New Orleans Rys. Co. per plan in V. 80, p. 651. Old
common stockholders paid an assessment of $10 per share and received $16
new preferred and $35 in new common; old preferred paid $20 assessment
and received $20 in new preferred and $100 in new common. Comprises
all the street railway and lighting Interests of New Orleans. Stock and
bonds were listed on New York Stock Exchange in June 1906. V. 82, p.
1497.
On Sept. 1 1908 owned the following stocks. We show also the total
amounts outstanding of each issue.
Owned
Amount
Issued.
Lt. Co.
$2,499,500 $2,465,700
Co., preferred
N...0. City
.. RR.
4,826,800
4,991,000
common
4,600,000
4,588,000
N.0. & Carrollton RR. Lt. & P. Co., preferred
2,500,000
common- 2,500,000
953,300
952,300
St. Charles St. RR Co
234,700
234,700
Orleans RR. Co
349,800
349,800
N. 0. & Pontchartrain RR Co
5,160,00
5,230,000
Gas
Co
Light
0.
N.
10,000
10,000
N. 0. Lighting Co
STOCKS-
VI
N.O.Ry.ct
$21,388,300 $21,088,000
Total
The New Orleans City RR.is leased until Dec. 31 1955 to the New Orleans
% until Jan. 1 1908 and 1%
Ry. & Lt. Co. for 5% on the pref. stock and
semi-annually thereafter on the common stock.
City proposed to build a municipal lighting plant, but bids were rejected
in Nov. 1903; contract for 10 years from Oct. 1 1905 later awarded to the
New Orleans & Carrollton RR. Light & Power Co., one of the constituent
companies of the New Orleans Railway & Light Co.
FRANCHISE.-The N. 0. City RR. Co. franchises expire from 1943 to
1962, except two expiring in 1915 and 1917; the N. 0. it Carrollton franchises expire in 1933; the St. Charles St. RR.franchises expire in 1956, and
the Orleans RR. Co. franchises expire in 1951. Gas franchise is perpetual
and is exclusive until 1925. Electric light franchise is perpetual.
Date.
Interest. Outstanding. Maturity
STOCK AND BONDS$20,000,000
Corn.. $20,000,000 ($100)
Pref., 5%, $10,000,000 01001
5 Q-J
10,000,0000et'07 82)o
non-cum
1,300,000 May 1 1912
6 g M-N
N 0. By. & Light Co. deb.( 1907
$5,000,000 gold ($1,01:10)._t Inter-State Trust & 1Banking Co. New
Orleans, Trustee.
4;5 g J-J 15,043,000 July 1 1935
N. 0. By. & Light Co., gen.) 1905
mort. $30,000,000 gold }Interest at New York Trust Co., Trustee, or
cs) at office of company.
($1,04)
1,300,000 June 20 '09
6
N.0. By. &LightCo.,collat-1 1908
eral trust notes, $1,300,000
3.200,000 July 1 1943
4-5 g
N. 0. City gen. mortgage, 1898
lInt, payable at Louisiana Nat. Bk. N. Or.
$3,250,000, gold
2,700,000 Jan. 1 1943
5 g J-J
New Orleans City & Lake 1893
1st M. for $3,000,000 Sub. to call for s. f. on & aft. July 1'98 at 110
c* Columbia Finance do Tr. Co., Louisv., Trust.
gold, $500 &e
Int. payable at New Orleans Nat. Bank.
68,000 July 1 1917
6 g J-J
N. 0. Tract. 1st mort.,} 1897
Interest at Louisiana Nat. Bank.
gold, sk. fd. ($1,000)
Fidelity Trust Co., Louisville, Trustee.
200,000 July 1 1943
5 g J-J
N. 0. Power-house mort.( 1901
Fidelity Trust Co., Louisville, Trustee.
gold, $200,000
Int. at Louisiana Nat. Bank, New Orleans.
1,875,000 Feb. I 1933
5 J-J
N. 0. & Car consol. M.,1 1899
($500 andt Interest at Whitney Cent. Nat. Bank.
$2,000,000
I New Orleans.
$1,000)
5
350,000
New Or. & Pontchartrain RR I
1st mtge
749,000 May 1 1946
6 g M-N
Canal & Claiborne RR. 1896
consol. M., g., $800,000 Interest at Whitney Central Nat. Bank,
New Orleans.
($500 and $1,000)
2,448,000 Jan. 2 1929
5 J-J
Edison Elec. of N. 0. 1st M. 1899
($1,000)s.f., $2,500,000 cs American Trust, Boston, Trustee.
300,000 July I 1929
5 g J-J
Merch'ts Elec. Co. 1st M., 1899
$300,000, gold ($500)...c*J Merchants' Loan & Trust Co., Chicago. Trus.
76,000 Apr.18 1913
5 J-J
1883
New Orleans Gas L. Co
($46,000 can be retired at any time and $30,000 April, 1908.)
Interest at the Peoples' Bank. New Orleans.
300,000 Apr. 8 1912
6 J-J
mortgagel 1895
RR.
Orleans
OITA. at Commercial Nat. Bank, New Orleans.
gold, $300,000
100,000 1907-1912
6 J-J
cf 1897
Second mort., gold
1May be called at par after 10 years.
375,000 Jan. 1 1952
4 g J-J
1st) 1902
Charles
Street
St.
mtg., $600,000 ($1,000).)Interest at Canal Bank & Trust Co., New
1 Orleans.
gold, c
Bonds.-On the New Orleans & Carrollton consolidated bonds $20,000
fund. A sinking fund of $30,000 per
sinking
a
is
to
payable
per annum
annum is provided for the redemption of the N.0. City & Lake RR. bonds.
The Merchants' Electric Co. bonds are subject to call at par at any time.
A sinking fund of $10,000 per annum is provided for redemption of Orleans
RR. bonds. The St. Charles St. RR. bonds are not subject to call, but a
proportionate amount will be retired yearly by purchase in open market.
The N. 0. Traction Co. bonds have a sinking fund of $7,500 per annum for
redemption of bonds at 105.
Of the $30,000,000 mortgage of the New Orleans Railway do Light Co.,
$12,516,000 are reserved for prior liens, and of the remainder $2,441,000
are pledged as collateral for 1908 notes. They are subject to call on any
interest date upon 60 days' notice at 105 and interest. See V. 82, p. 1497.
The 1907 debenture notes are subject to call from May I 1908 to May I 1910
at 103, and on May 1 1910 and any interest day thereafter at 101. V. 84,
p. 996. So long as notes remain out no new mortgage can be placed on
property. V. 84, p. 996. Collateral trust notes of 1908 are secured by
deposit of $2,441,000 of general mortgage bonds with July 1908 and Jan.
1909 coupons attached; they are subject to call at 101 on any interest day
on 15 days' notice. V. 86, p. 1590.
Dividends.-First quarterly dividend on pref. stock-1 X %-was paid in
Jan. 1906 and 1 % was again paid In April, 1 4% in July and 1 X % in
Oct. 1906. In 1907, Jan., 1 %; April, 1 X %;July, 1 X %; Oct., 62 cts.
Acme since.
ROAD.-Companies controlled operate 52.66 miles of single track, 65.77
miles of second track and 10.48 mites of special track; total track 194.68
miles. Has 578 cars and 3 power stations. Rails 58 to 107-lb. T and
girder. Gauges 4 ft. 834 in. and 5 ft. 234 in. In 1907 completed new
power-house canable of generating 17.800 k. w.
LATEST EARNINGS.-For 6 months ending June 30 1908, gross,
$1,018,665; surplus.
$3,054,535; net, $1,340,106: fixed charges,
charges. &c..
&c.,
$321,441. In 1907, gross, $3,066,155; net, $1,488,984;
$1,000,562; dividend on preferred stock (234%), $250,000; surplus.
$238,422.
REPORT.-For calendar years (1,107 renort in V. 86. n 1098.1:
Bal.. sue.
Pref. Died.
Charges.
Net.
Gross.
Year$6,041,301 $2,770,904 $2,025,638 (334 %)$312,500 $432,760
1907
(5%) 500,000 298,274
1,900,901
2,699,175
5,773,190
1906
1,784,226 (1 X %)125,000 513,023
2,422,249
5,093,710
1905
Passengers carried in 1907 (revenue), 78,879,204; transfers, 7,590,597.
The gross earnings of $6,041,301 for 1907 were derived, $3,987.733 from
railroad, $1,893,685 from gas and electric and $159,883 from miscellaneous.
OFFICERS.-Pres., Hugh McCloskey; V.-P. E. C. Foster; 2d V.-P.,
and Sec., Joseph H. DeGrange; Treas.and Aud., H.A.Ferrandou.-V.48.
p. 339, 1308, 9116, 929, 868: V. 85, p. 654, 1518; V. 86, p. 168, 338, 548,
598, 1043, 1098, 1530, 1590; V. 87, p. 415.
74
ELECTRIC RAILWAYS
SOUTHERN ELECTRIC SECURITIES CO.-A holding company.
In 1907 suit was commenced against the company by the Attorney-Gen.
of Mississippi charging violation of the anti-trust law. See V. 84, p. 221
and 932. In Oct. 1907 the Supreme Court of Mississippi affirmed the decision of the lower court holding that company is a combination in contravention of State anti-trust laws and must dispose of its holdings in properties in the State, viz.: Southern Light & Traction of Natchez (see page 62)
and Vicksburg Railway dc Light Co. (see under Vicksburg). As a result
of oecIsio., IeSe latter comp...11es were yilitCr, IS
ro_chvcr (SLC
V. 85. •). 1144; V. 86,
9391 and on Mav 4 1998 the Vicksburg By. &
Light Co. and in June 1908 the Southern Light & Traction Co. were sold
and Southern Elec. Sec. Co. Interests in these companies eliminated. V. 86,
p. 1226.
ORGANIZATION.-Incorporated in New Jersey In July 1903. In table
below we give the names of the companies controlled and the amounts of
stocks and bonds of each outstanding, together with the amounts acquired
and pledged under the collateral trust mortgage of the Southern Electric
Securities Co.
Capital Stock.
1st MortBonds.
Name of CompanyIssued.
Pledged. Issued.
Pledged.
Beaumont (Tex.) Tract. Co
$600,000 $600,000 5500,000 $100,000
Southern Light & Tract. Co.,
Natchez, Miss
•456,700 340,000 340,000 266,000
Jennings (La.) El. L. do P. Co
15,000
15,000
60,000
60,000
Vicksburg Ry. & Lt. Co
•500,000 *376,000 305,000
32,000
The stocks pledged are in shares of $100 each, except the Jennings Co.,
which are $50.
VOL. Lxxxvii.
Dividends o r
Interest. Outstanding. Maturity
Date.
STOCK AND BONDS.
$9,361,500
Stock $20,000,000 (par $100)_
1,761,000 April 1912
3 A-0
10-year notes, $15,000,000___ 1902
10,865,000
•
Loans& bills pay le Dec 31 06_ _
Note.-There was also due the Metropolitan Securities Co. on March 31
1907 53,638,500 stock under subscription and $3,915,000 of the 10-year
notes.
ROAD.-The following shows the aggregate of track operated June 30
1906:
Horse.
Total.'
Electric.
Miles of Track315.776
92.532
223.244
Manhattan Borough
201.030
201.030
Bronx and Westchester County
516.806
92.532
424.274
Total*
* Includes mileage not operated and tracks In car barns.
Note.-The company was at the date named still using 3,111 horses In its
operation of the lines In Manhattan Borough.
In a statement furnished by the Public Service Commission early In
1908, total track operated was reported as 521.06 miles.
EQUIPMENT.-The New York City By.. to which the "Metropolitan"
Is leased, reported Its equipment as follows June 30 1906: Box cars, motors1,920; others, 215; open cars, motors, 928; others, 151; combination cars,
motors, 155; express cars, motors, 30; freight motor cars, 5 service motor
cars, 34; others, 10; snow-plows, motors, 12; others, 7; sweepers, motors,
75; others, 11. Grand total, motors, 3,159; other than motors, 394.
LATEST EARNINGS.-For earnings of New York City By. from Sept.
• The Southern Electric Securities Co.'s Interest In the stocks of the
Vicksburg By. & Lt. Co. and S lithern Light & Trac. Co. has been elimin- 2511907 to June 30 1908, as reported by receivers, showing a large deficiency
ated, as noted above. The $32,000 Vicksburg By. & Light Co. and bek,w charges, see V. 87, p. 476. For earnings for nine months ending
March 311907, see V. 85, p. 100.
$266.000 Southern Light do Trac. Co. bonds, hcwever, are still held.
REPORT.-Following are the figures of earnings separately given for
Capitalization of Southern Electric Securities Co.
all of the roads in the system for the fiscal years ending June 30 1906 and
STOCK AND BONDSDate.
Interest. Outstanding. Maturity. 1905.
Further details and also balance sheet and other facts will be found
Stock,51,000,000 ($100)
$1,000,000
in the "Chronicle" of Oct. 20 1906. V. 83, p. 966.
Coll. tr. M.
51,600,0001 1904
5 g A-0
876,000 Apr. 1 1934
gold ($1,000;
c*f Int. at Knickerbocker Trust Co.,
Y., Tr.
Bonds.-The $876,000 outstanding were issued in payment of the
N. securiGross
Net
Other
All
Balance,
ties given In table above, and remaining $724,000 are reserved for acquirEarnings. Earnings. Income. Charges. sur. or def.
ing additional stock and bonds. A sinking fund of 2% of outstanding bonds
commences on April 1 1909. Bonds are subject to call on any interest date
$
$
$
I
$
8
at 105 and interest.
Y. City '05-0617,425,660 7,849,149 1,089,939 11,225,403 def.2,286,315
OFFICERS.-Pres., Lynn H. Dinkins; V.-P., E. C. Foster; Sec. and N.
By
'04-05 18,703,0047,387,631 106,489 11,160.387 def.2,686,267
Treas., H. M. Young.-V. 79, p. 104: V. 80, p. 1972; V. 83. p. 39; V. 84, 28th do 29th '05-06
31,2951,300
160,737
87,4l4def.
54,819
p. 221, 932; V. 85, p. 1144; V. 86, p. 230, 1226.
1,300
26,567
151,770
Sts
'04-05
86,729 def. 58,862
70,557 sur. 274,827
3,500
549,917 341,884
34thStCross- '05-06
69,519 sur. 254,460
3,500
525,754 320,479
town By... '04-05
NEW YORK CITY, N. Y.
21,298 def. 19,247
Fulton
500
St '05-06
1,551
30,431
21,244 def. 23,104
500
28,990 def. 2,360
RR
'04-05
MANHATTAN RA I LWA Y.-See •• Railway and Industrial Supplement. 42d
St M & '05-06
395,227 def. 91,938
81,340
922,763 221,949
St NAv By '04-05
392,630 def. 168,036
90,673
788,410 133,921
METROPOLITAN SECURITIES COMPANY.
180,438 def. 47,195
67,004
66,239
410,859
Incorporated under the Business Corporation Law of New York on Feb. 14 Dry D EB & '05-06
Batt RR_, '04-05
160,437 def. 07,418
430,125
42,647
20,372
1902 with a capital of $30,000,000. ft holds the entire outstanding stock
Kingsb'dge
'05-06
86,959 def. 72,413
38,119
14,546
of the New York City Ry., which in turn leases the Metropolitan Street RailRailway
87,660 def. 61,809
83,795
'04-05
25,851
way Co. V. 74, p. 379. Also owns all the stock ($1,500,000) of the
286,308 sur. 174,236
18,000
People's Trac. Co., all the stock ($600,000) and all the bonds ($2,500,000) Union Ry of '05-06 1,503,182 442,514
York_
New
'04-05
1,386,009
410.058
262,479
13,625
sur. 161,204
of the New York Westchester do Connecticut Traction; all the stock
W P& '05-06
128,348
14,903
31,686 def. 16,583
200
($25,000) of the Edenwald St. Ry., which owns franchises for street rail- Tarry
Ilam Ry
'04-05
106,817
6,770
63
31,961 def. 25,128
ways in the Bronx; stock of Jerome Park By.. operating 1.6 miles track. South
Boul '05-06
46,785
2,468
19,165 def. 16,697
and the Wall and Cortiandt St. Ferries By ($1,000,000 stock and $1.RR
'04-05
51,361
212
18,324det. 18,112
000,000 bonds), which owns franchises from Wall and Fulton St. ferries Yonkers
'05-06
341,109
102,034
149
110,592
def.
8,409
controls
to Liberty and Cortiandt St. ferries.; also
through stock Interest
RR
'04-05
305,768
63,640
111,858def. 48,069
149
the N. Y. Transportation Co. (capital $4,700,000); the Fifth Ave. Coach Westchester
'05-06
330,033
52,487
2,239
103,169def. 48,443
Co.. operating stages on Fifth Ave., and the Park Coach Co., operating
Eleo RR
'04-05
326,321
75,092
1,215
102,108def. 25,800
hacks In Central Park. Also owns stock in the Third Ave. RR., the precise
Of the holdings of Third Avenue stock,
amount not being disclosed
Total sys-1405-06 21,937,9449,313,161 424,744 11,950,9021def.2,212,997
however. $5,970.000 were to be pledged as part secnritv for the $15,tern ___
0.888,124 8,616.700 444,603 11,858,246 def.2,796,943
000,000 3-year collateral trust note issue of the Interborough-Metropolitan
_1'04-0512
1
Co. V. 84, p. 1248.
The powers of the company are very broad and allow it toacquire the sey Includes $168,960 in 1905 accrued to
Securities Co. for
curities of corporations of New York State or any other State, "including dividend upon its holdings of Third AvenueMetropolitan
RR.
stock
(see
below).
corporations which own, operate or lease, or which are organized for the
Note.-For the purpose of presenting the income account of the New York
purpose of constructing, owning, operating or leasing, street surface railroads, elevated railroads, rapid transit railroads, underground railroads, City Railway System as a whole, the following changes were made by
tunnels, bridges, tunnel railroads, railway terminals or railroads of any the company in the "total" column, as compared with the aggregate of the
character or description in the City of New York or its suburbs, or in terri- cross footings. These changes represent transactions between the different
tory adjacent thereto, and corporations engaged in furnishing or organized companies In the system. There were eliminated (1) from "operating
to furnish electricity for any lawful purpose, or power in any form, for use expenses-transportation" and from "Income from other sources-rent of
upon, or which may be used upon, street railroads or other railroads," &c. equipment," $26,816; (2) from "operating expenses-general" and from
Also "to purchase, acquire, hold and dispose of the stocks, bonds a:nd other "income from other sources-rent of tracks and terminals" $200,586; (3)
evidences of indebtedness of any corporation, domestic or foreign, and from "Income from other sources-miscellaneous interest," $667,317, and
issue in exchange therefor its stock, bonds or other obligations." The from "deductions from income-miscellaneous interest." $662,317, and
duration of the corporation is to be a thousand years. The directors need "Interest on real estate mortgages," $5,000.
The item of "all charges" for the New York City By., and also the total
not be stockholders unless the by-laws of the company shall so require. On
June 10 1903 second payment of $25 per share was made. In Jan. 1906, system, includes the 7% dividend ($3,639,792) on the stock of the Metropursuant to plan of amalgamation with Interborough Rapid Transit, politan Street By. and 5% per annum on the stock of the Third Avenue RR.
The "charges" do not include the franchise tax then in litigation.
another call of 25% was made, making stock 75% paid In.
Transfer.
Merger with Interborough Rapid Transit.-Both the shares of the MetroTotal,
Pass.car d. y'r end.June 30'06Fare.
391,354,877 178,639,866 569,994,743
politan Securities Co. and those of the Metropolitan Street Ry. Co. have Manhattan Borough
23,707,097
49,145,560
passed in large part to the Interborough-Metropolitan Co. under a merger Bronx and Westchester County
72,852,657
arrangement with the Interborough Rapid Transit Co. entered into In Jan.
440,500,437 202,346,963 642,847,400
1906. Stockholders of the Metropolitan Securities Co. in exchange for
Total
their stock with 75% paid thereon were given 93;,6 % of their holdings In
OFFICERS.-Pres., H. H. Vreeland; V.-P. and Gen. Mgr.„ Oren
common stock of the Interborough-Metropolitan Co., while holders of Root and D. B. Hasbrouck; Sec. and Treas., C. E. Warren; Comp.,
Metropolitan Street By. stock received 1007 in pref. and 55% in common H. W. Brown; Aud., D. C. Moorehead; Purch. Agent, A. C. Tully;
stock of the new company. See plan in full in V. 82, p. 280, $29,392,000 V. 82. D. 161, 509, 987; V. 83, p. 890, 966; V. 84, p. 391, 1308: V 85,
of the $30,000,000 stock of the Securities Co. has been exchanged on this p. 100, 793, 921, 1339, 1462, 1518; V. 86, p. 53, 108, 169, 338, 669, 858,
basis and $42,740,000 of the $52,000,000 stock of the Metropolitan St. By. 1043, 1285,1530; V. 87, p. 167, 476, 678.
For details of the securities of the Interborough Rapid Transit Co. and the
Interborough-Metropolltan Co.. see our "Railway and Industrial" section.
METROPOLITAN STREET RA I LWA Y.-Underground trolley and horse.
In July 1907 Judge Holt In the U. S. Circuit Court held that the merger
Receivers Appointed.-On Oct. 11907 Judge Lacombe appointed Douglas
must be considered a monopoly In conflict with the laws of the State. Robinson
and Adrian H. Joline (who had previously been made receivers
V. 85, p. 99. The same month Attorney-General Jackson petitioned the of the New
York City By. Co.) receivers of this company on application
Supreme Court for authority to bring suit to annul the charter of the Inter- of
company itself. V. 85, p. 864, 921. Protective committee for the
borough-Metropolitan Co. on the ground that It was an unlawful monopoly minority shareholders has been formed. See V. 85, p. 1518; V. 86, is. 108.
Sept.
1907 Justice Hendrick denied the application. The October 1907 coupon on the refunding bonds was paid, but the Morton
(V. 85, p. 99) but in
V. 85, p. 654.
Trust Co., as trustee,'brought suit Nov. 1907 in the U. S. Circuit Court to
STOCK AUTHORIZED- Date.
Rate. Outstanding. Last env.
foreclose the mortgage. A majority of these bonds, it is understood, has
$75 paid in
Stock, $30,000,000 (par $100) ---been deposited with a committee, of which E. S. Marston, Pres. of Farmers'
OFFICERS.--Pres., H. H. Vreeland; V.-P., R. W. Meade; Sec. and Loan & Trust Co., Is Chairman. V. 85, p. 1270. In Feb. 1908 the GuarTreas., Edward W.Sayre.-V.85, p.531; V. 86, p. 668.
anty Trust Co. of New York, as trustee of gen. coll. trust mtge., the Feb.
1908 coupons of which had been defaulted, brought an additional foreclosure suit In United States Circuit Court. V. 86, p. 548.
NEW YORK CITY RAILWAY,
Separate Receivership.-On July 16 Judge Lacombe appointed William
RECEIVERSHIP.-On Sept. 24 1907 company was placed by Judge W. Ladd sole receiver f New York City By. Co., but retained Adrian H.
Lacombe of the United States Circuit Court in the hands of Adrian H. Joline and Douglas Robinson as receivers of this company. V.87, p. 167.
Joline and Douglas Robinson as receivers(since replaced by William W.Ladd,
Defauit.-Interest due Feb. 1 1908 on the $12,500,000 gen. coll. tr. bds.
as noted below). The receivership was precipitated by the inability was defaulted. For Protective Committee formed see V. 86, p. 337, 603,
of company to meet the quarterly installment of rental due the Metropolitan 1159, and V.87, p.38. Interest due April 1908 on refunding bonds of 1902
St. By. Co. Oct. 151907. V. 85, p. 793,921. At the instance of Attorney- was also defaulted. Kuhn, Loeb & Co. offered to purchase at face value
General Jackson of N. Y. State, receivers were also appointed for New York April 1908 coupons of latter bonds on their being deposited with Farmers'
City By. and Metropolitan Street By. by New York Supreme Court Nov. 29 Loan & Trust
Co., subject to bondholders' agreement, before July 31 1908.
1907, but these receivers were never allowed to take possession (V. 88, See V. 86, p.
857.
p. 169, 338), and on Sept. 8 1908 this receivership was vacated and suit
Lierttjacates.-In March 1908 receivers obtained permission
to dissolve company dismissed. V. 87, p. 678. In May 1908 there were to Receivers'
issue
$3,500,000
6% receivers' certificates ranking In lien ahead of the
Issued $3,500,000 receivers' certificates of thi company and the Metropoli- $12,500,000 gen. coll.
5s and the $16,604,000 refunding 4s. V. 86,
tan St. By. See particulars under that company below. V. 86, p. 669, n. 66$. $57. in Nine trust
inns the U. S. Cirenit Court of Anneals affirmed
858, 1285.
action. V. 86, p. 1285. The certfs. were Issued in June and run for
this
Separate Receiver.-On July 16 1908 Judge Lacombe appointed William one year, maturing
June 151909. V.86. p.1590.
W. Ladd sole receiver In place of Adrian H. Joline and Doulgas Robinson,
Rental and faterest payments of Leased and Subsidiary Lines.-The
who remain receivers of Metropolitan Street Railway. V. 87, p. 167.
quarterly rentals on the leased lines of the Metropolitan St. By. (with the
ORGANIZATION.-The New York City Railway Co. was incorporated exception of the Third Ave. RR.) due Jan. 1008 were paid after
some
In New York on Nov. 25 1901 as the Interurban Street By., with a capital delay. V. 88, p. 53, 108. The rental payment due Alarch 1 1908
on
of $500,000, but on Feb. 10 1904 assumed name as above. V. 78, p. 48; Second Ave. RR. stock is In default. The various rental payments due
V. 77, p. 1874. Directors need not be stockholders. Arrangement April 1 and May 1 1908 were all paid after some delay, except that of the
of
the
Metropolitan Street By,, under which the Central Crosstown rtR. and the Central Park North & East River. 'Refor financing the needs
amount of the stock of the Interurban was increased to $20.000,000, ceivers In June 1908 obtained from Court permission to cancel the lease
was made In February 1902. V. 74, p. 370. Metropolitan Securities with the latter road, and also with the 28th and 29th Streets Crosstown
Co. owns all the stock and w s also to acquire any future Issues of stock RR. V. 87, p. 38. The Central Crosstown RR. Is still being operated,
or securities of the New York City By. The Interurban Co. leased the an agreement between the two companies having been sanctioned July
15
Metropolitan Street By. for 999 years from Feb. 14 1902 for 7% per 1908 by Public Service Commission (see particulars under Central
Crossannum on its stock. Owns $250,000 of the 5500,000 capital stock of the town RR.) In June
1908 receivers ceased operating the Fulton Street RR..
Bridge Operating Co., which operates cars locally over the Williamsburgh after having defaulted
In the payment due May 1 1908.,pnIthe 3500,000
Bridge, the other half being owned by the Brooklyn Heights RR.
bonds of that road. V. 86, p. 1159, 1467.
SEPT., 1908.]
ELECTRIC RAILWAYS
Transfers Discontinued.-On March 30 1908 Judge Lacombe in the
United States Circuit Court directed the discontinuance of transfers
between the Metropolitan Street Ry. lines and the Third Avenue RR.
V.86, p. 857. For discontinuance of other transfers, see Third Avenue RR.
and also V. 86, p. 1438; likewise see remarks under Central Park North 8:
East River RR..
Transfers.-For decisions as to transfers, see V. 78, p. 288, 584 and V.
79. p. 269, 2147, 2588, 2642: V.82, p. 452; V.84, p. 391,08,6b4,1308;
V. 85, p. 100: V. 86, p. 1043. 1530.
ORGANIZATION.-Organized on Nov. 12 1895 and by consolidation.
lease and otherwise acquired control of practically all the street railways
of Manhattan Island except the Manhattan Elevated.
Merger with Interborough Rapid Transit.-Up to Feb.10 1907 $42,740,000
of the $52,000,000 stock of the Metropolitan Street By. had been exchanged
for the stock of the Interborough-Metropolitan Co., basis of exchange being
$100 in preferred and $55 in common stock of the new company for $100 of
Metropolitan Street Ry. See V. 82, p. 280, and remarks above under
Metropolitan Securities Co.
Lease.-On Feb. 14 1902 the Metropolitan Street Ry was leased for 7%
on its stock to the Interurban Street Ry. (now the New York City Street
Ry.) for 999 years. V. 74, p. 379. Metropolitan Street By. stockholders
were given the right to subscribe for $23.400,000 stock of the new Metropolitan Securities Co. The lease has been sustained by the courts.
Franchises.-All franchises are stated to be perpetual, excepting the
Kingsbridge franchise, covering 3 q miles. For decision In New York Supreme Court adverse to the validity of the franchise under which the Lexington Avenue extension of the Houston West Street ec Pavonia Ferry RR.,
and also the line across 116th Street, was built, see V. 72, p. 45.
Franchise Tax Legal.-For decision of Court of Appeals In the case of the
Metropolitan Street Ry., affirming the validity of the franchise tax law, see
V. 76 p. 972. on May 29 1905 the United States Supreme Court unanimously affirmed the decision of the New York State Court of Appeals.
V. 80, p. 2344. For reduction in assessments in legal proceedings, see
V. 76, p. 331; V. 80. p. 2621. For decision as to car taxes, see V. 75, p.
1390; V. 85, p. 1330 ada v . 8,1, o. 1245. For decision as to tax on capital
stock for the vear 1807 se V. 80, 0, -Iota.
Brooklyn Bridge Connection.-Cars of the Metropolitan lines began to run
across the Williamsburgh Bridge in Jan. 1905.
sirocK AND
Interest. Outstanding. Maturity.
Date.
Stock $52,000,000BONDS._
Q-J 15 $52,000,000July'07.1 4%
($100)_ ___
3,500,000 June 15 '09
Receivers' certs 3,300.000_.. 1908
5 J-D
Interest In New York and London.
Refund mortgage $65,000,000 1902
4 g A-0 k16,604,000 April 1 2002
($1,000 &c) gold
c&r Morton Tr. Co., N. Y., Trus. Int. at off.of Co
Metropolitan Street 14,5 g F-A k12,500,000 Feb. 11097
1:len coil trust M$12,500,000(1897
c•&r Int. at Nat. Bank of Commerce, New York.
($1,000 &e) gold
3,504,788 July 1 1910
5 J-J
Improvement notes, $8, 00,-i 1907
llnterest at Mercantile Trust Co., N. Y., Tr.
00
600,000 April 1 1920
5 A-0
Metropolitan Crosstown firstl 1890
1 Interest at New York Trust Co., N. Y.,Pros.
mortgage
5 g M-S
5.000,000 Sept. 1 1993
Lexington Ave & Pavonia 1893
Ferry first mtge gold_c•&ri Interest at at. Bank of Commerce in N. Y.
5 g M-S
3,000,000 Sept. 1 1993
Columbus & Ninth Avenue 1893
first mortgage gold_ .. __c&r Guaranty Trust Co., N. Y. City, Trustee.
350,000 April 1 1919
5 A-0
So Fy 1st gu $350,000 ($1,000 1889
5 J-J
1,500,000 July 1 1924
Broadway Surf RR first mtge.
950,000
Mortgage on car stable prop-) 1891)
(Extended)
erties to Mutual Life
Lessor Companies5 g J-D
$7,650,000 Dec. 1 1943
Broadway & 7th Ave con mtge 1893
500,000 July 11014
5 J-J
2d mtge. 1884
do
do
4 J-J
700,000 Jan. 11050
Bleecker St & Ful Fy first mtge 1876
1,280,000 Nov. 1 1909
5 M-N
Second Avenue first mortgage.. 1885
5 J-J
89,000 Jan. 1 1909
Second Avenue debentures__ 1889
5 g F-A
5,631,000 Feb. 1 1948
Second Ave first consol mtge._ 1898
4 A-0
210,000 Oct. 1 1918
Christopher & 10th St 1st M__ 1898
6 F-A
750,000 Feb. 1914
•Eighth Ave certs of indebt _ 1884
6 M-N
250,000 Nov. 1 1922
Central Crosstown first mtge__ 1882
5
notes $2,250,000 1906
2,250,000 May 1 1909
do
Third Avenue RR.-See that company's statement.
•
Companies separately operated5 A-0
28th & 29th St Crosstown lstM 1896
1,500,000 Oct. 1 1996
5 A-0
1,000,000 April 1 1996
34th St Crosstown first mtge__ 1896
4 M-N
Fulton St RR first mtge gold__ 1895
k500,000 Nov. 1 1995
• Interest on the $750,000 certificates of Indebtedness of the Eighth
Avenue RR. is paid out of the $215,000 rental which the Metropolitan
Street ttv. ;mvs tne Eiglith Avco ,e tt it. k TileSC issues are In default.
Improvement notes of 1907 for $8,000,000 were to be deposited as security
for the $15,000,000 3-year coll, trust notes of the Interborough-Metropolitan
Co.
Bonds.-The Lexington Avenue & Pavonia Ferry Os and Columbus &
Ninth Avenue Os were fully described in V. 60, p. 1146. Both were guaranteed and later assumed by the Metropolitan Street By. Co. The Columbus
& 9th Ave. has been merged into the Metropolitan and Its stock canceled.
The general collateral trust mortgage of 1897 is secured by deposit of the
stocks (par value) of the Broadway & 7th Avenue, $1,400,000: 42d Street
& Grand Street Ferry RR., $400,000; Central Park North & Fast River
RR., $300,000; 34th Street Crosstown By., $090,000; also all property of
H. W. St. & P. V. RR., Chambers St. & Grand St. Ferry RR., Broadway
By., South Ferry RR., Metropolitan Crosstown Ry., Lexington Avenue &
Pavonia Ferry RR.,Columbus & 9th Ave.and Fort Lee Ferry Extension; also
leasehold interests contracts, real estate (valued as below stated), &n.
See application to New York Stock Exchange in V. 65, p. 826.
Of the $65,000,000 new refunding 4s, $54,000,000 were reserved to retire
prior liens amounting to $48,196,000, this latter not Including the bonds of
the Third Avenue RR. and its constituent companies. The bonds have a
second lien on the collateral deposited as security for the general collateral
trust mortgage of 1897; see particulars in V. 74, p. 379, 1308. Besides the
$11.000,000 of bonds immediately Issued (going to the Interurban Street
By.), $5,604,000 were sold for refunding, making $16,604,000 outstanding.
After Jan. 1 1920 any part of the bonds reserved for refunding not needed
for that purpose arc to be available for the general purposes of the company.
Dividends.-The dividends paid have been as follows, those prior to 1898
having been paid on the Metropolitan Traction stock, which was increased
in 1892 from $20,000,000 to $30,000,000, and In Oct. 1897 was exchanged
dollar for dollar for stock of Street Railway Co.:
Year
04. '05. '96. '97. '98. '99. '00. '01. '02. '03. '04. '05. '06.
7
7
7
7
Per cent
5
5
5
7
7
7
7
5
5
In Oct. 180/ a distribution of 20% In debenture certificates (paid off
Oct. 15 1898) was made to Traction stockholders. (V. 65. p. 620.)
R PAL ESTATE.-The real estate in New York City (see V.65. D. 826)
owned in fee, subject to the general mortgage and collateral trust deed of
1897 (including $2,450,000 subject to the prior lien of the Lexington Avenue
mortgage) was valued in Feb. 1900 at $6,257,019; owned by subsidiary
companies, $7,039,750; total, $13.296,769.
ANNUAL REPORT -See report under New York City Ry.
OFFiCERS.-Pres., D. B. Hasbrouck; V.-P., O. E. Warren; See and
Treas., D. C. Moorehead.-V.86, p. 52, 108, 286, 337, 548, 603, 668, 857,
1042, 1159, 1285, 1409, 1467, 1529, 1590; V. 87, p. 38, 167, 480.
Companies Controlled by Metropolitan Street Railway.
(I) Bleecker Street & Fulton Ferry RR.-florse and electric.
ORGANIZATION.-Chartered Dec. 12 1864. Leased to 23d Street
Railway Co. Jan. 10 1876 for 99 years; lease assigned to Metropolitan
Street By. Rental is interest on $700,000 bonds and 1 A % per annum on
stock. Payment due in July 1908 was made.
mu
Interest. Outstanding. Maturity.
Par.
STOCK AND BONDS$900,000 See text.
$100 1 A J-J
Stock
700,000 Jan. 1 1950
First mortgage gold 1900_ _.f 1,000 4 g J-.T
1Morton Trust Co., New York, Trustee.
The first mortgage bonds for $700.000 were 7s until Jan. 1 1900, when
they fell due and were extended by the Bleecker Street & Fulton Ferry Co.
at 4%, on the same lien, and made payable in gold.
ROAD.--Owns 8.79 miles of track, r:lectric on 14thSt.-V. 69, p. 1344.
(2) Broadway & Seventh Avenue.-Change to underground electric
occurred in Aug. 1901. Rental due July 1908 was pad.
ORGANIZATION.-Chartered May 28 1864. Leased May 13 1890 for
unexpired term of charter and for any extensions of the same to Houston
West Street Re Pavonia Ferry, now Metropolitan Street Railway Co.
RENTAL.-Interest on bonds and 10% on $2,100.000 stock, of which
Metropolitan Street Railway Co. owns $1,400,000.
75
Par.
STOCK AND BONDSInterest. Outstanding. Maturity.
$2,100,000 See text.
$100 10 Q-J
Stock $2,100,000 ($100)
Second mortgage of 1884
500,000 July 1 1914
1,000 5 J-J
1,500,000 July 1 1924
Broadway Surface first guar
1,000 5 J-J
South Ferry first guaranteed
1,000 5 A-0
350,000 April 1 1919
B'way & 7th Ave cons mtgej 1,000 5 g J-D
7,650,000 Dec. 1 1943
of 1893 for $12,500,000_ „IInterest at Guaranty Trust Co. N. Y., Trus.
Of the consolidated mortgage of 1893 for $12,500,000, $4%850,000 was
reserved to retire at maturity the other bonds in the table, but in June
1904 $1,500,000 maturinT. is were replaced by an issue of the Metropolitan
refunding 4s of 2002. V. 78, p. 1549. On July 1 1905 $1,000,000 second
mortgage bonds due on that date were replaced by a like amount of Metropolitan Street By. refunding mortgage 45 of 2002. V. 80, p. 2458. The
consols are guaranteed, principal and interest, under the terms of the mortgage by the Metropolitan Street Railway Co., which now owns the Broadway line south of 15th Street. They cover the road owned in fee and also
the right to use the tracks on Broadway from 15th Street to the Battery;
they are alsc) a direct lien on the cable (since changed to electricity), &c.
The Broadway & Seventh Avenue assumed the Broadway Surface first
mortgage bonds for $1,500,000 and payment of interest on the second mortgage bonds for $1,000,000 (the latter since paid off), for use of tracks between 15th Street and the ferry. South Ferry 5s assumed under lease.
ROAD.-Including Broadway Electric, Seventh Avenue and South Ferry
Ilnes: owns 1:).33 miles of track. v . 56, p. 51, 1 oi
(3) Central Crosstown RR.-Electric and horse.
ORGANIZATION.-Chartered March 28 1873. May 28 1890 leased the
Christopher & Tenth Street RR.; see separate statement of latter.
In May 1897 control was obtained in the interest of the Metropolitan
Street By. V. 65. p. Inn . 0u42.
On April 1 1904 was leased for 999 years to the Metropolitan Street Ry.
at a rental of 15% per annum on capital stock in addition to a guaranty
of the principal and interest of the bonds of the Central Crosstown RR
V. 78, p. 82o, 11.o. itental due Jan. itlos was pat, ,tit.r sum, delay,
but that due Anril 1 1908 remains unpaid.
.4greement with Metropolitan Street Ry.- n July 1908 entered into an
agreement (sanctioned July 15 1908 by Public Service Commission) with
Metropolitan Street By., by which for at least one year,or until close of
receivership of latter road,said receivers are to operate Central Crosstown
RR. under a temporary arrangement by which fixed charges only are to
be paid. V. 87. p. 165.
STOCK AND BONte.
Interest. Outstanding. Maturity.
15 Q-J
$600,000 See text.
Stock, $600,000 ($100)------ -ilia 6 M-N
250,000 Nov. 1 1922
First mortgage ($1,000)_ ___cf Interest at Morton Trust Co., New York.
American Loan & Trust Co., Trustee.
First consolidated mortgage) 1904
4 g M-N
See text. May 1 1952
$3,000,000 gold ($1,000)iMorton Trust Co., New York, Trustee.
c&r
I Interest at company's office.
5
Notes $2,250,000 gu ($1,000).c 1906
2,250,000 May 1 1909
The notes mentioned in table above were issued to take up a like amount
of notes maturing May 1 1906, and are secured by deposit of $2,490,000
guaranteed consolidated bonds. See V. 82, p. 986.
ROAD.-Track owned Is 3.80 miles; leases from Christopher & Tenth
Street RR., 4.11 miles. Total track, 7.9. miles. All electric except 17th
and 18th sts. from Broadway to Ave. A.-V. 82, D. 987: V.84, p. 1247;
V. 87, p. 165.
(4) Central Park North & East River.-Horse and electric.
ORGANIZATION.-Chartered July 19 1860.
LEASE.-Leased to Metropolitan Railway Co. Oct. 14 1892 for
length of charter and renewals thereof at 8% on stock till Oct. 1 1897; thereafter 9%(V. 55, p. 894). Metropolitan Street By. owns $300,000 of stock.
On June 29 1908 Judge Lacombe authorized receivers of the Metropolitan
Street By. to aband n the lease of this company. V. 87, p. 96. Road
is now operated separately. V. 87, p. 165. Transfers with Metropolitan
Street Ry. have been abolished. V. 87, p. 346.
Interest. Outstanding. Maturity.
Par.
STOCK AND BONDS.Stock (see rental above)
$100 Q-J (text) $1,800,000 See text.
Metropolitan Street By.refunding 4s were issued to take up the $1,200.000
7% first consol. bonds maturing Dec. 1 1902. Default.-The Interest on
these latter was defaulted April 1908 and Farmers' Loan & Trust Co. as
trustee brought suit for foreclosure and appointment of receivers on June 24
1908. V. 86, p. 1588.
ROAD.-Owns 59th Street, East and West. with belt line on East and
West Sides to South Ferry-20.86 miles of track. All electric on 59th
Street.
OFFICERS.-Pres., James A. Macdonald: Sec. and Treas., Alexander
J. Hemphill.-V. 86, p. 1467, 1588; V. 87, p. 36, 96, 165, 346.
(5) Christopher & Tenth Streets RR.-Electric.
ORGANIZATION.-Chartered April 25 1873. Leased to Central Cross•
town day I 1890 to: 914 v•-ars at o
on stock and interest on bonds.
Rental due July 1908 was paid.
Par.
Interest. Outstanding. Maturity.
STOCK AND BONDS$100
8 Q-J
$650,000 See text.
Stock
4 A-0
210,000 Oct. 1 1918
First mortgage extended inj 1,000
1Guaranty Trust Co., New York, Trustee.
1898
The $180,000 firsts were extended 20 years from Oct. 1 1898, and in
addition $30,000 bonds were Issued at same time to take up the Real
Estate Mortgage of similar amount. V. 67, p. 370.
ROAD.-Track owned is 4.11 miles.-V. 67, p. 370.
(6) Eighth Avenue RR.-Underground-trolley road.
ORGANIZATION.-Chartered Jan. 10 1855. Road is leased to Metropolitan Street Ry. for 99 years from Jan. 1 1896 at rental of $215,000 per
annum, which provides for interest on the scrip, 16% dividends on stock
and $5,000 additional for organization expenses. V. 62, p. 40. Underground-electric traction system used between 158th Street and Battery
Place. V. 67, p. 178, 956. Rental due July 1908 was paid.
Par.
Interest. Outstanding. Maturity.
STOCK AND BONDS$1,000,000 See text.
Quar.
Stock
$100
750,000 Feb. 1914
Scrip of 1884
100
6 F-A
Scrip is subject to call at par on any interest day.
ROAD.-Total track owned and operated, 10.3m miles. V. 62, p. 40;
V. 86, p 52, 108.
(7) Fort George & Eleventh Ave. RR.-To be an underground-trolley
road.
ORGANIZATION.-Incorporated Nov. 19 1898 in the interest of the
Metropolitan Street By. to build a line from 130th Street and 11th Avenue,
along 11th Avenue to 175th Street, and another from 145th Street and 11th
Ave. easterly through 145th St. to the Harlem River. Has constructed
2.06 miles projected on Broadway and is operating 1.6 miles of track on
145th St., between Lenox Ave. and Broadway. Stock authorized, $3,000,000, all owned by the Metropolitan. V 67, p. 1109. Franchise
granted Dec. 1889 for 25 years. with privilege of renewal for another 25
years, 4% gross receipts to be paid the first five years, 6% the second five
years, 8% the third five years and 10% the remaining years of operation.
The road to become the pronertv of city at the termiryttion of franchise
(whether original or renewed) upon payment for the same in accordance
with definitely prescribed rules. The Kingsbridge franchise was granted
to the Third Avenue RR. upon the same terms.
(8) Fnrtv-Second St. & Grand Street Ferry RR.-Horse and electric.
ORGANIZATION.-Chartered Feb. 16 1863. Leased to Metropolitan
Street Railway Co. from April 6 1893 for duration of charter and renewals
thereof at 18% on stock, payable in lawful money. Metropolitan Street
By. owns $400,000 of the stock. which is pledged under the Metropolitan
Street By. general collateral trust mortgage of 1897 and the same comwin v's refunding mtge. of 1902. Was changed from horse to electric In Nov
1906. Rental payment due At g. 1 1908 has been met.
Par.
Interest. Outstanding. Maturity.
STOCK AND BONDS18 Q-F
$748,000 See teat.
$100
Stock
ROAD.-Owns 6.80 miles of track. V. 74, p. 1139.
horse
road.
(9) Fulton Street RR.-A
Foreclosure ,•3u a. - Interest due May 1908 was defaulted. The Guaranty
Trust Co., New York, as trustee of the mtge , began suit for foreclosure in
U.S. Circuit Court on May 29 1908. The Metropolitan Street By. gave up
the oneration of the rnwi. V. 86, n. 1159. 1466.
Receivership.-On July 15 1908 Justice Blanchard in the Supreme Court,
on application of 1st mtge. bondholders, appointed Gilbert H. Montague
receiver, with authority to resume operation of road if it seems best to do
so. V. 87, p. 166,
ORGANIZATION.-Chartered Oct. 29 1895. Entire stock owned by
Metropolitan.
ELECTRIC RAILWAYS
76
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$500,000
.
Stock $500,000 ($100)
4 g M-N
500,000 Nov. 1 1995
First M gold ($1,000) gnarl 1895
prin & int by Met St Ry_c*lGuaranty Trust Co. of New York, Trustee.
ROAD.-Track owned is 1.05 miles, 8 cars.-V. 87, p. 166.
-Underground electric railroad.
(10) New York & Harlem
ORGANIZATION.-Chartered April 23 1831. Owns also a steam road
leased to New York Central, its securities, which cover the electric roads as
well as the steam line, being described under the title New York & Harlem
among steam railroads in our "Railway and Industrial Section." In July
1899 the Metropolitan Street Railway Co. bought from the New York &
Harlem the car-stable properties at 32d Street and Fourth Avenue and at
88th Street and Madison Avenue for $1,350,000. V. 69, p. 180, 542, 591.
The electric (formerly horse) lines (19.52 miles of track) were leased to
the Metropolitan Street Ry. for 999 years from July 1 1898 for a rental of
$350,000 per annum the first five years and $400,000 per annum thereafter,
which is equal to 4% on the $10,000,000 stock; in addition $2,500 Is allowed
for organization expenses. V. 82, p. 1088. Line operated electrically
from March 1898 from City Hall to 135th Street.
-An electric railroad.
(11) Ninth Avenue
ORGANIZATION.-Chartered July 29 1859. The road Is leased to the
Metropolitan Street Railway Co. for 99 years from March 12 1892. Rental
-For first five years, $48,000, which is equal to 6% on capital stock
($800,000), and thereafter $84,000-8% on same and $2,500 for organization expenses. Stock. $800 000; par $100; dividends Q-J. Rental due
July 1908 paid. Road-Fulton St. to 126th St.; total track owned and
operated, 15.90 miles.
(12) Second Avenue RR.-Mostly unaergrouna electric.
Receivership.-In Sept. 1908 Justice Bischoff in Supreme Court appointed
George W. Luich temporary receiver in suit by Guaranty Trust Co. to
foreclose consolidated mortgage.
ORGANIZATION.-Chartered Jan. 21 1853. Leased for length of charter from Jan. 28 1898 to the Metropolitan Street By. at 8% on the stock
for three years from March 1 1898 and 9% thereafter. V. 68, p. 185.
Dividend on stock due June and Sept. 1908 was defaulted. Coupons due
Aug. 1 1908 on 1st consol. mtge. bonds were also defaulted. For Proteetive
Committee formed see V. 87, p. 347. All electric except First Ave. branch,
and this last also was converted to electricity down to Fifty-ninth St.(V. 86,
p. 337) in Feb. 1908, which is the terminus of road under its charter.
Interest. Outstanding. Diviaends,&c
SECURITIESPar.
Stock $2,500,000 ($100)
$100 9 Q-M
$1,882,000 See text.
1,000 5 M-N
First mortgage of 1885
1,280,000 Nov. 1 1909
1,000 5 J-J
Debentures of 1889
89,000 Jan. 1 1909
First cons M gold $7,000,0001 1,000 5 g F-A
5,831,000 Feb. 1 1948
c*
Guaranty Trust Co., New York, Trustee.
1898 guar p &1 end
Of new first consolidated 5s $1,389,000 are reserved to retire securities of
earlier date. V. 68, p. 900. For mistake of trustees in exchanging some
Ss of 1909 for consolidated 5s of 1948, see V. 78, p. 654.
ROAD.-Track owned. 30.40 miles. V. 87, p. 347, 740.
(13) Sixth Avenue RR.-Underground trolley.
ORGANIZATION.-Leased to Metropolitan Street Railway Co. Feb. 1
1892 for 800 years. Rental now $145,000 per annum, which is 7% on stock
and $5,000 for organization expenses (V. 61, p. 925). Stock, $2,000,000;
par.$100. An extra dividend of 38% was paid in Aug. 1901 out of proceeds
of sale of stable property at Sixth Ave. and 43d St. Rental due July 1908
was paid. Road, including Lenox Ave. branch-track owned, 11 miles.
In Feb. 1899 began operating underground trolley all the way to Battery
Place.-V. 86, p. 53, 109.
(14) Thirty-Fourth Street Crosstown Ry.-Changed to underground electric in Sept. 1903.
ORGANIZATION.-Chartered March 18 1898, being a consolidation of
the 34th Street Railroad Co. and the 34th Street Ferry & Eleventh Avenue
Railroad Co. All of the stock of the 34th Street Crosstown Railway Co.
Is owned by the Metropolitan St. By. Rental due April 11008 was paid.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS$1,000,000
Stock ($100)
5 A-0
1,000,000 April 1 1998
First mortgage ($1,000) gnarl 1898
prin and int by Met St Ry_lCentral Trust Co., New York. Trustee.
ROAD.-Track owned is 0.96 miles. V. 80, p. 83; V. 62, p. 549.
REPORT.-See report under New York City Ry.-V. 71, p. 135.
(15) Twenty-Eighth & Twenty-Ninth Streets Crosstown RR.-Horsecars.
On June 28 1908 receivers of Metropolitan St. Ry. were granted permission to cancel lease and abandon operation of road. A bondholders'
committee has been formed and a majority of bonds has been deposited
under an agreement with Central Trust Co. of New York. V. 87, p. 288,
546; V. 87, p. 39.
ORGANIZATION.-The Metropolitan Street By. purchased the property in Sept. 1898. In Dec. 1898 the new air compressor and power-house
were completed, and in Aug. 1899 began using air-motor system exclusively,
V. 69, p. 283. In May 1901, however, returned to horse-cars. Entire
stock owned by Met. St. By. Interest due April1 1908 was paid.
Interest. Outstanding. Maturity
Date.
STOCK AND BONDS-$1,500,000
Stock $1,500,000 ($100)5 g A-0
1,500,000 Oct. 1 1996
First M $1,500,000 ($1,000)1 1898
up &lend Met St Ry tr.csi Central Trust Co., New York, Trustee.
ROAD.-Track owned is 6.72 m. V.86, p. 1531: V.87, p. 39, 286, 548.
REPORT.-See report under New York City By.
(16) Twenty-Third Street Ry.-Underground trolley.
ORGANIZATION.-Chartered Jan. 29 1872. Leased from April 25 1893
to the Metropolitan Street Railway Co. for the unexpired term of the
charter and for any extensions of the same. Rental Is 18% on stock.
Rental nayment due Aug. 1908 was met.
Interest. Outstanding. Maturity.
STOCK AND BONDS.- Par.
18 Q-F
$100
$600,000 18% per an.
Stock ($100)
Bleecker
St. and Canal St. branches, track
St.,
14th
-Including
ROAD.
owned, 4.54 miles. Rails. 47 to 113 lbs., standard gauge. V. 74, p. 1139.
RR.
RR.
THIRD AVENUE RAILROAD -Underground trolley.
Receivership of Lessee Company.-Both the New York City By. and th
Metrop. St. By. were In Sept. 1907 placed in the hands ,.1 recOvers,and
Judge Lacombe in the U. S. Circuit Court ordered that the dividend due
Oct. 31 1907 on Third Ave. RR. stock be withheld. See remarks under
New York City By. Various protective committees have been formed.
See V. 85, p. 885, 1340, 1519, 1847.
Separate Receiver.-On Jan. 6 1008 Judge Lacombe of the U. S. Circuit
Court appointed Frederick W. Whitridge of 50 Wall St., New York, separate receiver on application of Central Trust Co. of New York, new trustee
of 1st consol. mtge. Interest due Jan. 1 1908 on the 1st consol. mtge. was
defaulted and interest due Jan. 1 1908 on $5,000,000 1st mtge. 5s was not
paid until March 20 1908. Kuhn, Loeb & Co. purchased the coupons from
the 1st consols and William A. Read it Co. offered to purchase the coupons
from the 1st mtge. bonds. V. 85, p. 1647; V. 86, p. 481, 722. Kuhn,
Loeb & Co. made no similar offer in regard to coupons due July 1908.
V. 86, p. 1591. In Feb. 1908 receivers' certificates were authorized
for several subsidiary lines (see below). V. 86, p. 548. On March 31
1908 transfers with Metropolitan Street By. were abolished. V. 88,
p. 858. Judge Lacombe, June 10 1908, ordered receiver to abolish 3cent transfers with Manhattan Elevated, and advised receiver before
abolishing altogether the transfer system between the Union By. and
Westchester Electric and Yonkers RRs. to effect a compromise with
local authorities where necessary to avoid forfeiture of franchises. V.
86, p. 1531. In Sept. 1908 notice was posted that transfers between
three latter roads would be discontinued early in Oct. 1908. On May 20
1908 Judge Lacombe authorized an Issue of $2,500,000 receiver's certificates. These certificates rank after the $5,000,000 1st mtge. bonds but
are a prior lien to thell$37,560,000 1st consol. mtge. bonds. V. 86, p.
1286. See receiver's report on condition of the property given in detail
In V. 86, p. 1220.
ORGANIZATION.-Chartered Oct. 8 1853. A cable road from Dec. 5
1893, but in 1899 changed to underground trolley. In Jan. 1900 the electric
line between 125th and I82d streets was completed. Owns practically all
the stock of the following: Union By., Dry Dock East I3'way & Battery'
42d Street Manhattanville & St. Nicholas Ave. Yonkers RR., Westchester
Electric, TarryLown Wnite Plains & Mamaroneck, Soutnerd Boulevard,
Bingsbrldire Rv. and the Bronx Traction Co.
Lease.-On April 13 1900 the Metropolitan Street By. Co. took a lease 01
the property for 999 years. For the first four years Third Avenue stock
was to receive only the net Income above expenses and fixed charges; the
next two years 5 %;the succeeding four years 6%; thereafter 7%, First
dividend under the lease (1 g %) was paid on July 30 1904 and dividends
regularly paid UD to Oct. 1907, when default occurred. None paid since.
Of the 115.995,800 stock. $7,880,000 was held by the New York City By
and the Metropolitan Securities Co.; no information as to amount now held,
[VOL. Lxxxvii.
Date.
STOCK AND BONDSInterest. Outstanding. Last div.,oac
Stock, $40,000,000 4100)- ---Q-F
See text
$15,995,800
Receivers' certfs $2.500,000 __ 1908
2,500,000
6%
1909
1st mortgage, gold ($1,000)__ 1887
5 g J-J
5,000,000 July 11919
937
1st consol M,gold, c* ($1,000,1 1900
4 g J-J
37,580,000 Jan 1 2000
c&r }Central Trust Co., New York, Trustee.
&c.), $50,000,000
(Guar. prin. and int., by end.'by Met. St. Ry.
Bonds.-The remaining $12,440,000 is reserved to take up the following
prior liens, which the company has bound itself to Inly off at or before
maturity without extension. V. 78, p. 1549. The bonds were listed on
toe New York Stock Exchange In March 1901. See V. 70, p. 1050, 1121.
The Morton Trust Co. was trustee under the first consolidated mortgage, but
resigned In Nov. 1907, and was later replaced by the Central Trust Co.
V. 85, p. 1402; V. 86, p. 53.
Name of company and loanAuthorized. Outstanding.
$5,000,000
Third Avenue RR. Co. 1st mortgage
$5,000,000
2,000,000
Union By. 1st mortgage
2,000,000
42d St. Manhattan & St. Nicholas Ave. By. 1st M 1,200,000
1,200,000
do 2d mortgage incomes
1,800,000
*140,000
Dry Dock East Irway & Battery RR. 1st mtg...... 1,000,000
ow000
do Certificates of Indebtedness
1,200,000
1,1001,000
Yonkers RR. Co. 1st mortgage
1,000,000
1,000,000
Westchester Electric RR. 1st mortgage
500,000
500,000
Tarrytown White Plains .S3 Mam'neck By. 1st M.
300,000
00
30
2500
0:00
Southern Boulevard RR. 1st mortgage
250,000
Total
$14,050,000 112,440,000
*51,380(100 already pledged aspart security for the Third Ave.RR.4s and
$100,000 field as collateral for advances are here deducted;of the $1,360,000,
$357,000 was owned at the time of the making of the mortgage, and the
other $1 03,000 has since been acquired by the issue of a like amount of
the Third Ave. 4s.
The new bonds are guaranteed by the Metropolitan Street By. (for form
of guaranty see V. 72, p. 776) and are secured by the pledge of the following
stocks and bonus (For receiver's statement of properties covered by
mortgage. ,ee V. 85, p. 1642.,
Issued.
Name of company.
Pledged.
$2,000,000 $2,000,000
Union Rail way Co. of New York City stock
2,500,000
42d St. Manh'nvIlle & St. Nich. Ave. By. stock
2,489,800
1,500,000
2d mortgage incomes
Do
1,380,000
Dry Dock East Broadway & Battery RR.stock._ 1,200,000
1,179,000
8,600
KIngsbrid e By. Co. stock
8,600
Subscription for balance of $1,000,000 stock
991.400
1,000,000
Yonkers RR. Co. stock
092,500
500,000
500,000
Westchester Electric RR. Co. stock
250,000
248,300
Southern Boulevard RR. Co. stock
300,000
300,000
Tarryt'n White Plains & Mamaroneck By. stock
The Metropolitan Co was to be entitled to vote on the foregoing and to receive the income from the same so long as the new bonds are not in default.
See particulars In V. 70. p. 1050.
There are other mortgages outstanding for $50.000.
ROAD.-In May 1908 operated as follows:
Miles.
Miles.
ROAD-Owned.
8 i.59
City Hall via 3d Av. to 130th St. 7.03 UnionRailway
38.41
North River to 125th St., E.R. 2.50 Westchester Electric
3 ..09
10th Av., 125th St.. to Fort
Yonkers RR
7.87
3.75 Southern Boulevard
George
2,.n.5 Tarrytown White Plains &
Other track
23.39
Mamaroneck
6.71
3.1.9 i Kingsuralge rty
Total track
14.11
Bronx Traction
Controlled but operated separately-track miles.
234.86
Total controlled track
Dry Dock E. B. & Bat. Ry____17.84
42d St. Man. & St. Nich. Ave. 23.49 Grand total track
252.30
REPORT.-See report of receivers of New York City By. Co. and Metropolitan Street Ry. Co. In V. 85, p. 1642, and report of receiver Whitridge
In V. 86, ID. 1220.
EARNINGS.-Of Third Avenue RR. System for year ending June 30
1907, gross, $8,261,162; net, $1,861,264; other Income, $254,231; taxes
(exclusive of "special franchise tax)," $298,787; net income, $1,818,728;
interest on Third Avenue RR. first mortgage, $250,000; Interest on funded
debt of companies ranking ahead of Third Avenue consol. mtge.. $377,000;
on floating debt, $158,134; total interest ahead of consols, $785,134; balance $1,033 594.
OFFICERS.-Pres., H. H. Vreeland; V.-P., D. B. Hasbrouck; Sec. and
Treas., John Beaver.
INDEX.-V. 86. a. 53. 109, 170. 230, 338, 481, 548, 722, 858. 1220.
1228, 1286, 1531, 1591; V. 87, p. 347.
(1) Dry Dock East Broadway & Batfery.-Horse and electric road.
RECEIVERSHIP.-Feb. 1 1908, Judge Lacombe appointed Frederick
W. Whitrldge, already receiver of Third Avenue RR., receiver of this company. Interest due Feb. 1 1908 on the $1,100,000 certificates of indebtedness was not paid. V. 86, p. 337. Judge Lacombe In Ti. S. Circuit Court
In Feb. 1908 authorized Issue of $100,000 receiver's certificates. V. 86,
n. 546. Interest due June 1 1908 on gen. mtge. bonds has been paid.
ORGANIZATION.-Incorporated Dec. 8 1863. Control obtained by
Third Ave. RR. Aug. 23 1897 (V. 85, p. 194), which owns $1,196,900 of the
stock, $1,179,000 of which is pledged for the 50 million dollars Third Avenue
mortgage. In Jan 1906 began operating Grand St. line by electricity.
STOCK AND BONDSInterest. Outstanding.
Par,
Maturity.
Stock, $1.200,000
$100
$1,200,000
6 Q-F
See text
General mortgage, gold, 1892i1,000
5 g J-D
950,000 Dec 1 1932
Farmers' Loan & Trust Co., Trustee.
Cert. of debt not subj. to call
5 F-A
100
1,100,000 Feb 1 1914
Notes payable Feb. 1 1908_ __ _
1,959.202
ROAD.-17.64 miles of track, 117 cars. 5 sweepers and 4 snow plows.
DIVIDENDS.-Since 1891, for fiscal year ending June 30: 1891-92, 5%.
1892-93, %; 1893-94 2% %; 1894-95, 4% %; 1895, Aug., 13 %; Nov..
1 % 70; in 1896, 6%; in 1897, Feb., 1% %; in 1898, 8%; in 1899, May (Feb.
div. was passed), 1 % %; none since paid.
ANNUAL REPORT.-See report of New York City Railway,
INDEX.-V. 65, p. 194, 568: V. 67, p. 952; V. 86, p. 337, 546, 1224.
(2) Forly-seconol St. Manhattanville & St. Nicholas Ave. Ry.-A horse
road, but NOV. 11 1900 changed to electricity.
Receivership.-On Feb. 1 1908 Judge Lacombe in the U.S.Circuit Court
appointed Frederick W. Whitridge. already receiver of the Third Avenue
RR.,receiver of this company. V.86, p. 337. In Feb. 1908 he authorized
the issue of $200,000 receiver's certificates. V. 88, p. 547. Int. due March
1 1908 on 1st mtste. bonds was paid. Nothing is being paid on 2d mtge. es.
ORGANIZATION.-Chartered Aug. 29 1878. In Nov. 1895 contro
was purchased by the Third Avenue RR. See V. 81, P• 926.
InDec. 1899 began to use underground electric system from Fort Lee
Ferry to the Boulevard, thence to Fifty-ninth Street.
Of the stock. $2,489,800 is pledged as security for the 50-million Third
Ave. mtg.; of the $1,500,000 2d mtg. incomes, $743,000 are owned by the
Third Ave. RR., of which $357,000 deposited under the Third Ave. mtg.
Maturity,
STOCK AND BONDS1P
1
$0
r
0.0
0
Interest. Outstanding.
Stock authorized, $2,500,0003
1st mtg, gold, 1880
00
00 Mch 1 1910
2:5
200
00:0
M--S
$1
Interest at Union Trust. N. Y. City,Trustee
2d mtg Inc es, 1885, $1,- 11,000 6% as earned 1,800,000 Jan 1 1915
600,000
Union 5
T%
rust Co., N. Y.. Trustee.
See text
100,000
Real estate mortgage
Loans payable June 30 1908_
Bonds.-The real estate mortgage is all owned by 6th2e9T
d Ave. RR.
Ii5r4
L71
ROAD.-21.49 miles of track, 148 cars, 2 snow plows and 2 sweepers.
ANNUAL REPORT.-See report of New York City Railway. V. 80,
p. 1424; V. 82, D. 333: V. 86, p. all, 547, 1224.
(3) Union Railway of New York.-A trolley road
Reemenhip.-On Marci 31 1908 Judge Lacombe appointed Federick W.
Whltridge, receiver. V. 86. p. 858, 920.
Receiver for Subsidiary Companies.-A temporary receiver was in Jan.
1908 appointed by Supreme Court Justice Isaac N. Mills in White Plains
for the Westchester Electric By. the Tarrytown White Plains & Mamaroneck RR. and the Yonkers et R. V. 86, p. 230. Int. due Aug. 1 1908 on
1st mtge. bons has be en paid.
ORGANIZATION.-OrganIzed under Chapter 340 of the Laws of 1892,
giving authority to consolidate the Harlem Bridge Morrlsania & Fordham
Ry.,the Melrose & West Morrisania RR. and the North Third Ave. & Fleetwood Park RR. Validity of consolidation affirmed by Court of Appeals
Jan. 9 1900. V. 70, p. 77
Operates from 129th St. and 3d Ave. through
the Borough of the Bronx, and with subsidiary lines continuing thence to
and through Mt. Vernon.
77
ELECTRIC RAILWAYS
SEPT., 1908d
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MAP SHOWING
RAILWAY AND FERRY LINES
01,1 THE
NORFOLK & PORTSMOUTH
TRACTION COMPANY.
Railway
Ferry
if
78
ELECTRIC RAILWAYS
[VOL LxxxviL
In Dec. 1899 accepted the terms proposed by Board of Estimate for the
MOHAWK VALLEY CO.
Kingsbridge RR. franchise, which are 4% of gross receipts for the first 5
ORGANIZATION.-Incorporated in New York in 1905 as a holding
years, 8% for the second, 8% for the third and 10% thereafter. The franchise is for 25 years, with privilege of renewal under certain conditions for company for the N. Y. Central-Andrews syndicate, $12,000,000 of the stock
another 25 years. At the end of the term the city acquires the property, being owned by the N. Y. Central & Hudson River RR. and $8,000,000 by
paying for It in accordance with definitely prescribed rules for fixing its the Andrews-Stanley syndicate of Cleveland. Stock was increased from
$10,000,000 to $20,000,000 in July 1906 (V. 83, p. 156), but on July 25 1908
value. V. 69, p. 1248. Work on this line was begun in July 1901 and
completed in 1902. Runs from Amsterdam Ave. and 162d St. to Broadway reduced to $7,500,000, per plan in V. 87, p. 286, 545. Before reduction
company owned a majority of the stock of the following compan es, all of
and 221st Street, making b./1 miles anuitIonai. hntire stock ownea.
STOCK AND BONDSPar.
Interest. Outstanding. Last dia., d.c which, under the plan of readjustment, will be parted with except the three
Items
first mentioned and the Rochester Ry. ec Ltg. Co. (the latter Is, howStock
$100
$2,000,000
1st mort., 1892, gold
1,000 5 g F-A
2,000,000 Aug. 1 1942 ever, to part with its holdings of common stock of the Rochester Ry. Co.):
Canandaigua Gas Light Co.
jInt. is payable at Cent. Trust Co., N. Y. City
Rochester Electric By.
Despatch Heat, Light & Power Co.
Notes payable June 30 1906, $6,272,502.
Rochester Fe Sodus Bay RR.
Eastern Monroe El. Lt. & Gas Co.
Guaranteed Loans=
Rochester Railway Co.
Westch. 1st M., gu., p. & 1.
Rochester & Eastern Rapid By.
1.000 5 g J-J
500,000
July 1943 Oneida Railway Co.
gold, 1893
Rochester & Suburban Ry.
Mercantile Tr. Co.. N. Y., Trustee, Oneida Construction Co.
Southern Boulevard RR. 1st. ___
Syracuse Rapid Transit By. Co.
5 g J-J
250,000 July 1 1945 Ontario Light & Traction Co.
Rochester By. & Light Co.
gold, 1895
-Central Trust Co., N. Y. Trustee.
Utica & Mohawk Valley
In addition to above also own d one-nalf of the $4,100,000By.
ROAD.-Main line and branches, including second track, 85.59 miles.
stock of the
ANNUAL REPORT.-See report of N. Y. City Ry. V. 70, p. 77, 481: Schenectady Ry., the other half being owned by the Delaware & Hudson
Co.
V. 86, p. 858, 920, 1227.
STOCK AND BONDSDate, Interest. Outstanding. Maturity.
(4) Tarrytown White Plains & Mamaroneck (Electric) R y.-Trolley.
Stock, $7,500,000
$7,500,000 Fb 15'07,2%
Receivership.-On Jan. 21 1908 Supreme Court Justice Isaac N. Mills
Dividends.-Dlvidend of 2% paid Feb. 15 1907.
appointed J. Addison Young of New Rochelle temporary receiver. V. 86
OFFICERS.-Pres , Horace b. Andrews: Vice-Pres., W. K. Vanderbilt
p. 230.
Jr.; Vice-Pres., J. Carstensen; See., D. W. Pardee; Treas., Edward
L.
Interest on the 1st mtge. bonds due Sept. 1 1908 was defaulted. V. Rossiter; Counsel, W. N. Kernan:
Gen. And., A. L. Linn Jr.-V.83, p. 156;
87, p. 615. Bondholders have been requested to deposit their bonds V. 86, p. 421, 1410; V. 87,
p. 286, 545, 613.
with Sutro Bros., & Co. V. 87, p. 168, 615. Petition to Increase fare
from 5 to 10 cents between White Plains & Mamaroneck was denied by
Public Service Commission on August 10 1908. V. 87, p. 416.
NEWBURGH, N. Y.
ORGANIZATION.-Successor in 1898 to the New York Elmsford &
White Plains Ry. On April 18 1899 Third Ave. RR. purchased all the
ORANGE COUNTY TRACTION CO.-Trolley,
stock. V. 68, p. 674.
In Sept. 1906. control changed hands and new officers elected as below.
Road extends from Tarrytown station on the N. Y. C. & H. R. RR., to V. 83, p. 688.
Mamaroneck, on the Sound, and from White Plains Station on the Harlem
ORGANIZATION.-Organized Oct. 16
and acquired the Newburgh
RR. to Silver Lake Park, a total of 23 ad miles. The company carries Electric By. Co., sold under foreclosure.1901
Under the reorganization no
freight as well as passengers.
dividends were to be paid on the shares for three years, all surplus earnings
STOCK AND BONDSDate.
Interest. Outstanding. Maturity. to be used for betterments and additions. The
Newburgh Electric 1st
Stock 8300,000 (par $25).
$300,000
mortgage bondholders and the Walden & Orange Lake
and the New1st mortgage $300,000, g.1 1898
5 gM&S
300,000 Mar. 1 1928 burgh t4c Orange Lake RR. agreed to a reduction in theirRR.
interest from 6%
j Knickerbocker Trust Co., N. Y.,Trustee.
($1,000) guar. p. & 1
to 5%. See V. 73, p. 138. In May 1904 State Railroad Commission
Bills payable June 30 1906_
329,630
granted
permission to make a new mtge. for $100,000 for improvements.
The bonds are guaranteed, principal and interest, by endorsement, by the In July 1908
Public Service Comm. granted permission to issue four notes
Union Railway Co. For form of guaranty see V. 74, p. 381.
of $25,000 each to refund obligations amounting to $100,000.
ANNUAL REPORT.-See report of New York City Ry. V. 74, p. 381:
STOCK AND BONDS- Date,
Interest. Outstanding. Maturity.
V. 86, p. 230; V. 87, p. 39, 168, 416, 615.
Stock, $150,000 ($25)------- $150,000
Pt, $175,000 6% n-cum ($25)- 175,000
(5) Yonkers Railroad.-A trolley road.
5 g M-N
250,000 May 1 1944
Receivership.-On Jan. 20 1908 Supreme Court Justice Isaac N. Mills Newb Elec 1st M ($250,000),1 1894
gold
($500),
not
sub
to
call
Co.,
Int.
Knick.
Tr.
Trustee, N. Y. City.
at
made Leslie Sutherland of Yonkers temporary receiver, V. 86, p. 230.
& Orange Lake 1st' 1895
100,000 June 1 1945
5 g J-D
In July 1908 Public Service Commission sanctioned an issue of $65,000 re- Walden
mtge, gold, guar p 6: L___ Int. at Hamilton Trust Co., Brooklyn.
ceiver's certificates for purchase of new cars. V. 87, p. 98.
Newb & Orange Lake lsti 1894
5 g J-J
75,000 July 1 1944
ORGANIZATION.-The Union By. guarantees the $1,000,000 bonds
M,gold ($500), p &I gu_ce Int. at Knick. Tr, Co., Trustee, N. Y. City.
p. and 1. this guaranty being accepted by the Third Ave. RR. V. 67. New mortgage,
$100,000,
gold
1904
5
g
Apr 1 1924
A-0
(?)
Inrert,3,ll,C tprit 1 1.,ths on lst mtge. bonus was paid. V6,
p. biso. '
ROAD.-Owns 18.95 miles of track, 31 passenger and 10 other cars.
p. 55M.
OFFICERS.-Pres., B. B. Odell Jr.; V.-P., W. W.Taggart; Treas., H. B.
STOCK AND BONDSDate.
Interest. Outstanding. maturity
Odell; Sec., V. Johnston meliay; tien. mgr., erederlex
Iserry.-V. 83.
$1,000,000
Stock $1,000,000 ($100)
p. 688.
5 A-0
1st mtge. gold, $1,000,000,1 1896
1,000,000 Apr. 1 1946
f Manhattan Trust Co., N. Y., Trustee.
guaranteed
Receiver's certificates
65,000
NEWPORT, R. I.
Bills payable June 30 1906_
973,150
NEWPORT & PROVIDENCE RY. CO.-Trolley.
ROAD.-Owns . 5 03 miles of track.
ORGANIZATION.
-Incorporated in 1902.
ANNUAL REPORT.-See report under New York City Ry.-V.71,p. 30;
STOCK AND BONDS- Date.
V. 86, p. 230, 858; V. 87, p. 98.
Interest. Outstanding. Maturity.
Common,$300,000 ($100)
$300,000
(6) Bronx Traction Co.-A trolley road.
cum, $200,000 ($100).
200,000
ORGANIZATION.-Incorporated on May 12 1904. and is a consolidation Pref,
mortgage,
1st
gold
Cs
5g
425,000
1925
of several small companies. See V. 78, p. 2333. Entire stock owned by
Bonds.-Are subject to call in 1910.
Union Ry.
EARNINGS.-For year ending June 30 1907, gross, $64,179; net. $19,Date.
Interest. Outstanding. Maturity. 391;
STOCK AND BONDSand
interest
taxes,
$21,890; deficit, $2,499.
Stock $585,000 ($100) _
$58,100
ROAD.-Operates
frit HOAD.-Operates 14.11 miles of track from Bronx River by West Farms where connection Is 14 miles ot track trout Newport to Bristol Ferry,
Road to Westchester Village; from Bronx River by Southern Westchester girder rail. 12 curs.made by ferry to Providence; 70 and 90-lb. T and
Turnpike to Westchester Village; from Main Street, Westchester Village,
OFFICERS.-Pres.,
to Eastern Boulevard, and from West Farms Road to Bleecker Street. Weaver; Treas., Geo. E.E. A. Brown; V.-P., Melville Bull: Sec., Geo. A.
Macomber; Mgr., Geo. M. Towle.-V.78,p. 2519.
Standard gauge; 109-lb. rails.
OFFICERS.-Pres., Edward A. Maher; Sec. and Treas„ Reune Martin;
Supt Jas. Carrigan. V. 78, p. 2333.
1
NEWTOWN, PA.
NEW YORK CITY INTERBOROUGH RY.-A trolley road.
ORGANIZATION.-Incorporated In New York on March 24 1902, in
the interests of the Interborough Rapid Transit Co. to build an extensive
system of feeders for the subway and elevated lines
'in the Bronx, and to
afford street railway connections across the Harlem River bridges.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Stock, $5,000,000 ($100)$5,000,000
4 g M-N
1,womuo
1st mortgage, $5,000,000,1 1905
1928
jInt. at U.S. Mort. & Tr. Co., N. Y•. Trustee.
sinking fund, gold
ROAD.-Operates 8.60 miles of double track from Broadway and 181st
various
Bridge
and
Washington
streets
across
and
St.
avenues in the Borough of the Bronx; also across Central Bridge to 155th St. and 8th Ave.
Put in operation May 31 1906. Possesses franchises for about 16 miles of
4.25
miles
(About
of
this
double
track.
additional
has been constructed.)
See description of road in V. 82, p. 1269, 869. Three-cent transfers are exchanged with the Subway system and the Manhattan Elevated Broad
and free transfers are exchanged with the lines of the Union Railway,
OFFICERS.-Pres., Alfred Skitt; Vice-Pres., J. J. Rollins; Sec., FL AL
Fisher; Treas., D. W. McWilliams. V.82, p. 869, 1269; V.87, p. 38, 286,
NEW YORK WESTCHESTER & BOSTON RY.-To be a third-rail road.
ORGANIZATION.-Incorporated on March 20 1872 and in 1875 went
Into the hands of a receiver, where It continued until Dec. 1903, when new
Interests succeeded to control. See V.78, p. 343. The franchise to operate
in New York City was signed by Mayor McClellan on Aug. 2 1904. V. 70,
p.828. Capital stock (for nearly $1,000,000) was Increased on July 26 1904
to $20,000,000. V. 79, p. 270. In Nov. 1904 Railroad Commissioners
approved the increase of stock and the making of the new $20,000,000
mortgage. There has been considerable litigation between this road and
the New York & Port Chester RR.,a rival project, and on Jan. 10 1908 the
Appellate Division of the New York Supreme Court First Department,
affirmed decision of lower court restraining the New York & Port Chester
from using part of the located line of the New York Westchester & Boston.
V. 80, p. 169. In Dec. 1906 the Railroad Commissioners granted the New
York & Port Chester permission to Increase its stock to $20,000,000 and to
make a mortgage for $20,000,000. See V. 84, p. 52.
Control by the New Haven.-In Jan. 1908 Pres. Mellen of the New York
New Haven & Hartford RR., in a letter to the New York City Board or
Estimate, stated that his company owned the stock (990 shares out of 1,000;
par, $100) of the Millbrook Co., incorporated in New York Nov. 5 1906,
and that the latter owns all the stock of the New York & Port Chester RR.
(91,581 shares) and one temporary 5% 1st mtge. bond for $100,000; latter
company in turn owns a majority of the stock of the New York Westchester
& Boston By. See particulars of assets of N. Y. & Port Chester RR. In
V. 87, p. 480. Mr. Mellen also stated that a road will be constructed from
Harlem River to Port Chester by the best available route, whether the
route already laid down be the N. Y. & Port Chester RR.or the N. Y. Westchester & Boston Ry. or the N. Y. New Haven & Hartford RR. Construction will be started as soon as pending litigation is settled and money
conditions are favorable.
STOCK AND BONDSDate.
Interest. Outstanding. maturity,
Stock, $20,000,000 ($100)
$19,000,000
1st mortgage, $20,000,000,1 1904
5 g A-0
15,000,000 Oct 1 1954
Of Knickerbocker Trust Co., N. Y., Trustee.
gold ($1,000)
Bonds.-Will be subject to call on or after Oct. 1 1909 at 110 and interest.
ROAD -Is to build a line of four tracks 22.22 miles in length from 138th
St., New York City, to Portchester, with a branch from Pelham via Mount
Vernon and Scarsdale to White Plains, 13.21 m., and a branch of 8.06 m.to
Clason's Point and Throgg 5 Neck, making (with four and three tracks) a
total of 108.93 miles of track. Will be operated by the third-rail system and
have fenced-in private right of way with no grade crossings. 90-lb. rail.
For full description of proposed road, see V.70, p. 501. Part of the grading
has been completed and several bridges erected. V.85, p. 794, 1144; V.86,
p. 109, 169; V. 87, p. 415, 480.
BUCKS COUNTY ELECTRIC RY.-A trolley road.
ORGANIZATION.-Organized in Pennsylvania Feb. 1908 as a consolidation of the Newtown Railway Co. and the Newtown Longhorn & Bristol
(Trolley) Street Railway Co.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity
Common $400,000 ($50)
$400,000
1st mtge $500,000 ($1,000)1 1908
5 g 81-N
500,000 Novi 1937
gold red 105 and int_ ___c*JInt. at Nor. Trust Co., Phila.. Trustee.
ROAD.-Operates 30 miles between Bristol and Doylestown, Pa.
OFFICERS-Pres., Frank Battles; V.-P., W. Fred'k Snyder: Sec., J. L
Richter; Treas., H. H. Harrison; Mgr., W. H. Janney.-V. 85, p. 1401
V. 86, P. 51.
NIAGARA FALLS, N. Y.
NIAGARA GORGE RY.-Eleetrie.
ORGANIZATION.-Incorporated in New York June 3 1899 as successor
to the Niagara Falls & Lewiston, sold at receiver's sale May 23 1899. Extends from Onondaga St., Lewiston, along the bank of the Niagara River
to the city of Niagara Falls. Was formally opened July 1 1899. Also controls the franchises of tile Buttery Whirlpool Rapids Co., the Niagara
Rapids View Co. and the Niagara Whirlpool Rapids
Co. Has
agreement with the Niagara Falls Park & River By. Co. Elevator
allowing cars of the
Gorge road to run over that company's lines across the arch and Suspension
bridges to Table Rock and DufTerin's Island. Leases the Lewiston
&
Youngstown Frontier RR, and in 1907 acquired a majority of the stock of
K
line.
_ o.$
that
toscerko
AND BONDS- Date.
Interest. Outstanding. Maturity.
1,000,000 ($100)$1,000,000
First mortgage $1,000,0001 1907
5 g J-D
949,000 June 11027
($1,000) gold
c&rjInt. at Commonwealth Tr. Co., Buffalo, Tr.
ROAD.-Owns 14.7 miles of track from Niagara Falls to Lewiston, and
leases Lewiston ec Youngstown Frontier Ry., 8.7 miles; trackage rights, 2
miles; total operated, 25.43 miles; 42 pass. cars, 4 service cars and 1 snowplow.
EARNINGS.-For fiscal year ending June 30 1908, gross, $174,651; net,
$82,886; charges, $55,550; surplus, $27,336.
OFFICERS.-Pres., Jos. T. Jones; V.-P., Herbert P. Bissell; Sec., Robert E. Powers; Treas. and Gen. Mgr., Bert L. Jones; Aud., E. H. Buddenhagen, all of Buffalo.-V. 68, p. 332, 1077, 1133; V. 84, p. 868.
(1) Lewiston & Youngstown Frontier Ry-ORGANIZATION.-Chartered Aug. 1895. Owns from Lewiston to
Youngstown, 7.3 miles; completed in Aug. 1896; branch to Rumsey Park.
1 mile; sidings, .2 miles; trackage, .2 miles; total, 8.7 miles.
Is leased by the Niagara Gorge RR., which also owns a majority of its
capital stock.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock,$150,000 ($100)
_ ____
$134,000
mortgage, $150,000,f 1896
First mo
150,000 June 1 1926
6 g J-D
($1,000), gold
cnInt. at Buffalo Is., T. & S. D. Co., Buff., Tr.
NORFOLK, VA.
CHESAPEAKE TRANSIT CO.-Has been absorbed by Norfolk & Southern. See latter in "Railway and Industrial Section."
NORFOLK & PORTSMOUTH TRACTION CO.-A trolley road.-(See
map on page 77).
ORGANIZATION.-Incorporated under Aot of the General Assembly
of Virginia, approved Feb. 20 1900, and March 29 1902, as the
Portsmouth & Newport News Co., and was formed by consolidationNorfolk
of the
SEPT., 1908.1
Port Norfolk Electric Railway Co., the Portsmouth & Smithfield Railroad
Co. and the Portsmouth Pig's Point as Newport News Ry., Ferry & Hotel
Co. By agreement of merger and consolidation which became effective
April 23 1906, the Berkeley Street Railway Co. and the Old Dominion Railway Co. were merged into the Norfolk Portsmouth & Newport
News Co., and the corporate existence of the last-named company was continued, and its name changed to Norfolk & Portsmouth Traction Co., under
wnich name it became vested, with all the charter powers, property and
franchises of the three merging companies. This company has also acquired the Suffolk Light & Ice Co. and has leased the Norfolk Railway &
Light Co. for 99 years from June 1 1906, under terms given in that company's statement below. It also owns the entire ($500,000) capital stock of
the Norfolk & Atlantic Terminal Co. with a mileage of 1823 miles, and the
entire capital ($100,000) stock and ($1,000,000) bonds of the Norfolk &
Ocean View Railway Co. (a reorganization of the Bay Shore Terminal Co..
Incorporated In 1900), with a mileage of 19 miles. Controls by ownership
or lease the following properties : the ferries operating between Norfolk,
Portsmouth and Berkeley, with six ferry-boats; the ferry to Newport
News, with two steamboats; the ferry to Old Point Comfort, with two
steamboats; the City Gas Co., with unlimited franchises. Bonds are listed
on the Philadelphia, Baltimore, Pittsburgh and Boston stock exchanges.
V. 83, p. 492. Franchises for street railways in Portsmouth expire in 1926,
1927 and 1932. Street railway franchises in Norfolk expire in 1944. The
electric lighting franchise in Suffolk expires in 1918. At the time of the
merger-April 1006-the company was financed by Messrs. Chandler Bros.
& Co. of Philadelphia, John L. Williams & Sons, of Richmond, and Middendorf, \A,'Mains & Co. of Baltirricre, by whom securitle,ate handi,d.
Date.
Interest. Outstanling. Maturity.
STOCK AND BONDS$6,000,000
Stock, $6,000,000 ($100)5,720,000 June 1 1936
5 g J-D
First mortgage, $8,000,000,f 1906
c•lInt. at Trust Co. of North Am., Phila., Trus
gold ($1,000)
Convertible notes $1,800,0001 1i06
1,isihs,t1u0 See text.
6 g M-S
fInt. at Baltimore Trust & Guar Co., Trustee.
($1,000) gold
Bonds.-All underlying liens of the subsidiary companies have been
retired with the exception of the bonds of the Norfolk & Atlantic Terminal
Co. The unissued first mortgage bonds of 1906 may be issued for acquisitions, extensions and improvements, but not over $500,000 in any one
year. A sinking fund of % % per annum of outstanding bonds commences
on June 16 1916 which is to be invested in the bonds. Are subject to call
at 110 and interest on any interest date upon 60 days' notice. The notes of
1908 mature $800,000 annually on March 1 1910, 1911 and 1912; can be
called any interest period In any amount at par; collateral for outstanding
notes ($1,458,000) consists of $831,000 Norf. & Portsm. 1st mtge.; $800,000
Norf. do Ocean View 1st mtge., and $500,000 Norf. & Atl. Ter. gen. mtge.
bonds; also 612 shares City Gas Co. stock and entire 5,000 shares Norf. &
Atl. Ter. stock. The unissued notes can be issued only upon deposit of
additional collateral. They may be converted at option of holder into Norf.
do Portsm. Trac. 1st mtge. or Norf. & Atl. Ter. gen. mtge. bonds on the
basis of par for notes, 00 and int. for Norf. & Portsm. bonds and 85 and
Int. for Norf. & Atl. Ter. bonds. V. 86, p. 1410, 1530.
REPORT.-For calendar years of Norfolk & Portsmouth Traction Co.
and allied companies, see report for 1907 In V. 86, p. 1339. Passengers
carried in 1007 were: fare passengers, 29,230,843; free passengers, 1,043,1906
820; transfers, 2,032,503; total, 32,316,166, against 18,172,439 In cubic
and 14,744,723 in 1905. The City Gas Co. sold in 1907 243,810,500
p 1005.
)
feet of gas, against 187,995,900 in 1906 and 166,49617
1906.
$2,616,458 $1,710,546
Gross earnings
1,113,883
1,655,654
Operating expenses
Net earnings
Deductions from income
$960,804
2,283
$605,863
*170
Net Income
Fixed charges
a Extraordinary expenses
$958,520
704,808
126,507
$605,833
501.556
12,033
$92,244
$127,205 •
Surplus
• Other additions to income. a Include deductions for depreciation and
extraordinary expenditures incident to Jamestown Expo3ition service.
ROAD AND PLANT.-Operates about 135 miles of track (including
Norfolk Railway & Light Co.) In Norfolk, Portsmouth and Berkley, including the Norfolk do Atlantic Terminal Co. furnishing a line from Norfolk
to Sewell's Point, where connection is made by ferry to Newport News.
Has 260 cars. A new power house with 10,500 k. w. capacity was constructed In 1907. Dec. 31 1907 was supplying 4,128 32-candle power
lamps, 61,923 16-candle power lamps, 39,301 8-candle power lamps, 14,252
4-candle power lamps and 2,179 arc lamps.
OFFICERS.-Pres., John Blair McAfee, Philadelphia; 1st V.-P., Frank
G. M. Serpell; Sec., T. B. Gay; Treas., W. J. Kehl;
0. Briggs; 2d
Hathaway.-V.86, p. 1225, 1339, 1344 1410, 1530.
Gen. Mgr., E. C.
V.-P.,
(1) Norfolk Railway & LightLease.-Was leased on June 1 1906 to Norfolk & Portsmouth Traction Co.
for 99 years, lessee to pay as rental (in addition to all fixed charges) on
June 1 1908, Dec. 1 1908 and June 1 1907, $16,500 on each date; Dec. 1
1907 and June 1 1908, $24,750 on each date; Dec. 1908, June 1909, Dec.
1909 and June 1910, $33,000 on each date; Dec. 1910, June 1911, Dec. 1911
and June 1912, $41,250 on each date; Dec. 1912 and thereafter, $49,500
on each June land Dec. 1. V.82, p. 1323.
ORGANIZATION.-Incorporated in Virginia on Nov. 2 1899 as a consolidation of the following: Norfolk Street RR., Norfolk & Ocean View Ry.,
Own entire
Virginia Electric Co. and the Berkeley Light as Power Co
stock of the Norfolk Light Heat & Power Co. Street railway franchises
expire in 1944, except a small portion of mileage in Norfolk, which expires in
1934. Electric light franchise expires in 1930. The company controls the
street railway, electric lighting and power business of the city of Norfolk
and owns a line of railway and steamers to Old Point Comfort; also own;
4,011 shares out of 5,000 shares of the stock of the City Gas Co. of Norfolk
793 shares more are owned by the Norfolk & Portsmouth Traction Co.
On Aug. 30 1904 the City Gas Co. purchased the Berkeley Gas Co. V 7J.
p. 968. Stock is listed on the Philadelphia Stock Exchange.
Date.
Interest, Outstanding. Maturity.
STOCK AND BONDS$1,650,000 J'ne'08,1% %
Stock, $1,650,000 ($25)
125,000
Jah 1 1913
6 g J-J
Norfolk City first mortgage, 1888
c Int. at Mercantile Tr. Co., N. Y. City, Trust.
gold ($1,000)
20,000 April 1 1928
5 A-0
Virginia Electric Co first mtge 1898
$500,000, gold ($1,0l)0)..__ Int. at U.S. Mtge. & Tr. Co., N. Y., Trustee.
915,000 Jan. 1 1944
5 g J-J
Norfolk Street first cons mtge, 1898
$1,000,000 gold ($1,000) _c Int. at Mere. Tr. & Dep. Co., Bait., Trustee.
2,940,000 Nov. 1 1949
5 g M-N
Norfolk Ry & Lt first cons M 1899
$4 000 000,g($1,000) s 1_0* Int. at International Tr. Co., Baltimore, Tr.
17,300
See text.
.
_
5
Car equipment certificate
Bonds.-Of the first consol. mtge., $1,060,000 is reserved to retire outstanding bonds. Sinking fund begins Nov. 1 1909, and provides for the purchase of 1% of outstanding bonds each year at 110 or less. See V.70, p.584.
The car equipment certificates mature $2,500 annually to June 1 1915.
ROAD AND EQUIPMENT.-Owns 54.82 miles of track. Gauge, 5 ft.
2% in. and 4 ft. 8% in.; 60 to 90-1b. rails. Owns 2 steamers which operate
to Old Point Comfort, and extensive real estate and buildings at Ocean
View, Including large hotel, theatre, pavilion, restaurant, &c.
OFFICERS.-Pres., R. Lancaster Williams; 1st V.-P., Caldwell Hardy;
2d V.-P., E. C. Hathaway; Sec., T. B. Jay; Treas., W. J. Kehl.-V.81,
p. 508: V. 82, p. 752, 1041, 1323.
(2) Norfolk & Atlantic Terminal Co.
ORGANIZATION.-Organized in Virginia. Entire $500,000 stock is
owned by Norfolk & Portsmouth Traction Co. Franchise in Norfolk 35
years from 1805.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDSSee text
Stock $500,000
5 g M-S
$500,000 Mch. 1 1929
mortgage, $500,0001 1899
First
fInterest at Alex. Brown & Sons, Baltimore.
gold
5 M-S
500,000 Mch. 1 1938
General mortgage $2,000,0001 1908
($1,000) guar p & I gold_c•lint. at Real Estate Trust Co., Phila.,Trustee
Bonds.-The general mortgage bonds are guaranteed, principal and interest by Norfolk & Portsmouth Traction Co. $500,000 are reserved to retire
first mortgage bonds, and remaining $1,000,000 for extensions, Improvements and acquisitions. Subject to call on any Interest day at 105 and
interest on 60 days' notice. Sinking fund of %% of outstanding bonds is
payable semi-annually, beginning March 1 1018,and bonds may be drawn
at 105 and interest.
EARNINGS.-For year ending Dec. 31 1907, gross, $417,013; net,
$142,757; fixed charges, $91,773; surplus, $50,084.
ROAD.-Runs from Norfolk to Sewell's Point, connecting there by ferry
with Newport News. Total miles of track, 18 2-3. 80-lb. rail.
79
ELECTRIC RAILWAYS
NEWPORT NEWS & OLD POINT RAILWAY & ELECTRIC.
ORGANIZATION.-In 1898 purchased the Newport News Hampton ,S1
Old Point Ry.and acquired the Chesapeake Light & Power Co. at Hampton,
Va. Later acquired the Citizens' Railway, Light & Power Co. through
ownership of $195,000 out of a total issue of $200,000 capital stock, which
company in turn acquired $76,000 of the $100,000 capital stock and entire
bond Issue of the Newport News Gas Co. The Newport News & Old Point
Ry. & Elec. also has acquired $95.500 of the $100,000 stock of Danville
By. & Elec. Co. and all that company's bonds. In Nov. 1905 acquired
entire capital stock of the Hampton Roads Traction Co., successor to the
Hampton Roads Railway & Electric Co.. sold under foreclosure, and comprising 21 miles of track. Formerly also controlled the Norfolk & Atlantic
Terminal Co., but entire stock of this company was sold in Nov. 1906 to
the Norfolk & Portsmouth Traction Co., which see above. Controls the
railway, electric lighting and ice business in Newport News, Hampton.
Old Point and Phoebus. Also controls gas business in Newport News.
Aug. 18 1908 company was granted permission to Increase fares from 5 to
10 cents between Newport News and Hampton.
Date,
STOCK AND BONDSInterest. Outstanding. Maturity.
Common, $1,075,000 MOO)
$1,075,000
Pref 5% cum ($100)_
5 J-J
725,000 July 2 '02, 2 %
5 g M-N
First mortgage, $900,0001 1898
900,000 Nov. 1 1938
c* Interest at Alex Bown & Sons, Bait., Md.
gold ($1,000 each)
5 g M-N
First mtge Citizens Ry Lt & P 1900
800.000 May 1 1940
$800,000 ($1,000), gold_c*) Maryland Trust Co., Baltimore, Trustee.
Guaranteed prin and int_ __1Interest at Alex. Brown & Sons, Baltimore.
5 g M-S
1,700,000 Mch 1 1941
General mortgage, $4,000,-I 1901
000, gold ($1,000 each) c*i Int. at Alex. Brown & Sons, Baltimore, Md..
( or at company's agency in New York.
Bonds.-The Maryland Trust Co., Baltimore, is trustee of both the first
and general mortgages of the Newport News & Old Point Railway &
Electric. The Newport News & Old Point bonds of 1898 are subject to
call at 110 on any interest day at 60 days' notice. The Citizens' Railway,
Light & Power Co. bonds are subject to call at 110 on any interest day at
60 days' notice; they are guaranteed by the general mortgage of Newport
News & Old Point Ry. & Electric. See V. 71, p. 84. Of the $4,000,000
general mortgage bonds, $1,700,000 have been issued; $1,700,000 are reserved to take up at maturity the outstanding first mortgage bonds of the
Newport News & Old Point Ry. & Elec. and the Citizens' Ry., Lt. & Pow.
In addition to the mortgage lien, bonds are secured by a deposit of the
stock of the Citizens' Railway, Light & Power Co., Danville Railway &
Electric Co., the Newport News Gas Co. and bonds of the two latter cos.
EARNINGS.-Of the Newport News & Old Point Ry. & Elec. and
controlled companies for 12 months ending Dec. 31 1907, gross, $435,418;
net. $209,664; in 1906, gross, $391,467; net, $186,272.
ROAD.-Including Citizens' Ry., Light & Power Co., Hampton Roads
Trac. Co. and the Danville By. & Elec. Co., operates 50.60 miles of track.
OFFICERS.-Pres., Wm. J. Payne, Richmond; V.-P., George A.
Schmelz, Newport News; Sec., D. C. Zollickoffer, Richmond; Treas., H. L.
Schmelz, Hampton; Gen. Mgr., W. W.S. Butler, Hampton; Aud.. F. von
Schilling, Hampton.-V. 77, p. 147, 824; V. 81, p. 1551.
NORTH ATTLEBOROUGH, MASS.
INTER-STATE CONSOLIDATED STREET RY.ORGANIZATION.-Organtzed as successor in Massachusetts to the
Inter-State Consolidated of Rhode Island. Though some of the officers
and directors of this company are the same as for the street railway companies controlled by the New England Investment Fe Security Co. (a N. Y.
N. H. & H. organization), th.: company is not controlled by the latter.
Interest. Outstanding. Last Div.
STOCK AND BONDSDate.
Stock, $275,000 (par $100)-$275,000 In '05-6.7%
Current liabilities Sept 30 '07
129,631
ROAD.-Owns 21.580 miles trolley track and 1.200 mile sidings, &c.,
from Rhode Island State line to North Attieborough and Plainville, Mass.,
Hebronville, Dodgeville and Attieborough. Total operated, 22.780 miles,
EARNINGS.-For year ending Sept. 30 1907: Gross. $174,491; net.
$60,012; fixed charges, $15,760; surplus. $44,252.
OFFICERS.-Pres., L. S. Storrs, Boston; V.-P., A. T. Potter, Providence; Clerk and Comp., J. T. Harmer, Boston; Treas., L. Candee, Boston:
Gen. Mgr., E. J. Dickson, Franklin.-V. 73, p. 236.
NORTHAMPTON, MASS.
NORTHAMPTON STREET RAILWAY.-A trolley road.
ORGANIZAT1ON.-Cnartered Feb. 26 1873. In Feb. 1908 was granted
permission to issue $175,000 additional stock at $110 pr share (par $100)
to retire floating debt, &c. V.86, p.481. Up to Sept. 1908 stock had not
been Issued.
STOCK, BONDS, &c.Date. Interest. Outstanding.
Divs., 4e.
Stock, $415,000 (par $100)___
J-J
$3.10,000 f.p.July'08,3%
First mortgage, not subject to 1888 5 A-0
25,000
April 1 1909
call ($500)
c Int, at Springf. S. D. do Tr. Co.,Spring.,Mass.
New
mortgage, $200.000 1900
4)4 J-D
200,000 June 1 1910
c Int. at Third Nat. Bank. Pittsfield, Mass.
($10,000)
Loans & bills payable Sept '07
215,000
Bonds.-The new mortgage 4)4 % bonds could have been called at par in
1905, but not thereafter, upon 60 days' notice. Trustees are Erwin H.
Kennedy and Ralph B. Bardwell, both of Pittsfield.
Dividends.-1901,8%; in 1902, 8 %; in 1903, 8 %; in 1904, 6%; in 1905.
6%; on Dec. 27 1905, 3% %; in 1906. 3 ti %; in 1907, 7%; in 1908, 6%.
ROAD.-Operates 26.578 miles of track, including extension to Holyoke
and extension from Mt. Tom Junction to Easthampton. Operates 44
passenger cars, 4 snow-plows and 112 electric motors.
ANNUAL REPORT.-For years ending Sept. 30 earnings have been:
1907.
1906.
1907.
1906.
Gross
$174,487 $163,705 Balance for divs__ $12,366 $24,943
Net
44,045
53,458 Dividends
21,000
21,000
Interest. taxes,&e. 31,679
28,515 Bal., sur. for yr_ df.8,634
3,943
OFFICERS.-Pres., C. Hammond, Northampton, Mass.; V.-P. and
Treas., N. D. Winter. Springfield; Sec., H. P. Field, Northampton; Supt.
Edwin C. Clark, Northampton.-V. 70, p. 842, 1049; V. 86, p. 431.
CONNECTICUT VALLEY STREET R Y.-Trolley.
ORGANIZATION.-Incorporated in 1899. Commenced Jan. 22 1900.
Is a consolidation on April 1 1905 of the Northampton & Amherst Street
By,, the Greenfield & Turner's Falls Street Ry. and the Greenfield Deerfield
as dorthamipton Street By., as per plan in V. 80, ip. 1111.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock,$500,000 ($100)___
$500,000 1906-07, 2%
Connecticut Valley St Ritirst1 1900
5 g M-S
40,000 Sept. 1 1920
mortgage, gold ($1,000)_c* Int. at Old Colony Trust Co., Boston, Trust.
Northampton do Amherst first 1900
5 g M-S
180,000 Sept. 1 1920
mtge, $180,000 g ($1.000)c Int. at Old Colony Trust Co., Boston, Trust.
Greenfield Deerfield & North'( 1903
5 g J-J
150,000 July 1 1923
first mortgage, $150,000,ant. at Mercantile Trust
Boston, Trus.,
gold ($1,000 and $500)_-c*) No sinking fund and bonds
Co.,cannot be called
1
Greenfield & Turner's Falls1896
5 g J-D
76,000 June 1 1916
first mtge, g, sinking fund_ Interest at Beacon Trust Co., Boston.
Green & Turn Falls cons mtge 1903
5 g J-D
54,000 June 1 1923
$130,000 g ($500.$1,000).c* Interest at Beacon Trust Co. Boston, Trust.
Current liabilities Sept 30 1907 ___
168,46
Bonds.-Greenfield & Turner's Falls first mortgage (originally $100,000)
provides for the payment of $2,000 annually from 1897 to 1915,inclusive, at
a premium. Sufficient of the consols are reserved to retire the first mortgage bonds at maturity. The Northampton do Amherst bonds are sunject
to call after Sept. 1 1910 at 105 on 4 weeks' notice, as are the bonds of the
Connecticut Valley Street Ry. The $40.000 Connecticut Valley bonds were
Issued under the first mortgage of the Northampton & Amherst Street RY•
which was originally drawn for $300,000. As there is $180,000 out In name
of Northampton & Amherst St. By. and $40,000 in name of Conn. Valley
St. Ry., there are $80,000 bonds still to be Issued under the mortgage.
EARNINGS.-For year ending Sept. 30 1907: Gross, $180.012; net,
$55,773; interest and taxes, $40,035; divs. (2%), $9,948; surplus, $5,790.
ROAD.-Owns and operates 47.304 miles of track between Miller's Falls.
Turner's Falls, Greenfield, Northampton and Amherst. 41 passenger cars;
5 snow-plows and 126 electric motors.
OFFICERS.-Pres., F. E. Pierce; Sec. and Treas., D. P. Abercrombie
Jr.; Supt.,J. A.Taggart.-V.82, p. 48; V.83, p.969,1037; V.84, p. 1182.
NORWALK, OHIO.
SANDUSKY NORWALK & MANSFIELD ELECTRIC RY -A trolley
road.
80
ELECTRIC RAILWAYS
ORGANIZATION.-Private right of way except in cities where franchises run 25 years from 1904. Has contract for supply of power with
Lake Shore Electric RI.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSCommon
$360,000
Preferred, non-cumulative
240,000
5 J-D
First mortgage, $600,000,1 1904
600,000 June 1 1924
J Int.at SecuritySav.Bk.&Tr.Co..Toledo,Trus.
gold
Bonds.-Redeemable on any int. day on 90 days' notice at 110 and int.
Sinking fund $5,000 per annum June 1 1909 to 1913 inclusive; 1914 to 1918.
Inclusive, $10,000; 1919 to 1923, inclusive, $20,000.
ROAD.-Operates 25 miles of track from Norwalk through towns of
North Fairfield. Steuben. Chicago Junction and New Haven to Plymouth.
Road is being extended to Shelby, where connection will be made with the
suburban lines of Mansfield. Standard gauge. 70-lb. T rail.
OFFICERS.-Pres., S. S. Burtsfleld; V.-P., Sherman Culp.
NORWICH, OONN.
NORWICH & WESTERLY RY.-A trolley road.
Controlled by United Rys. Co. of New Jersey, a holding company, particulars of which are not yet available.
ORGANIZATION.-Incorporated in Connecticut and operates under
charters granted both by Connecticut and Rhode Island. Operates the
Pawcatuck Valley Street Ry.(controlled by United Rys. Co. of New Jersey).
STOCK AND BONDSDate.
Interest. Outstanding, Maturity.
Common. $450,000
$450,000
Preferred, $250,000 6% cum
167,800
First mortgage, $750,0001 1906
5 g M-S
750,000 Mch. 1 1938
Int. at Thames Loan & Trust Co.. Norwich,
gold ($1.000)
State Treasurer, Trustee.
Bands.-Subject to call at any interest period at 115 and interest. Trustee of mortgage Is State Treasurer.
ROAD.-Operates 24.147 miles of track, including sidings, from Norwich, Conn., via Poquetanuck, Hallville, Shewville, North Stonington and
White Rock to Westerly, R. I; also 6 Yk miles belonging to Pawcatuck
Valley Street By.; total, 30.397 miles. Private right of way except
through towns; 10-1b. rails, 9 passenger cars, 1 baggage and 2 combination cars.
OFFICERS.-Pres., Henry H. Gallup; Sec., Charles D. Noyes; Treas.,
S. W. C. Jones; Supt., J. T. Cousins. V. 82, p. 1497; V. 86. p. 920.
PAWCATUCK VALLEY STREET RV.
Controlled by United Railways Co. of New Jersey.
ORGANIZATION.-In March 1908 control was purchased from the
Westerly Light & Power Co. by the United Railways Co. of New Jersey, a
holding company controlling Norwich & Westerly Ry. and other Conn.
properties. Road is being operated by the Norwich & Westerly By. V.
86. p. 92,P.
- STOCK AND BONDS-.
Interest. Outstanding. Maturity.
Date.
Stock
$75,000
Mortgage $50,000 gold ($500)1 1907
5 g M-N
50,000 June 1 1927
redeemable at 105 in 1912_ J Int. at Union Trust Co., Providence, Trustee.
ROAD.-Embraces 6j( miles of track. V. 86, p. 920.
OAKLAND, CAL.
OAKLAND TRACTION COMPANY -Trolley.
ORGANIZATION.-Incorporated in California Nov. 8 1906 and Is a
consolidation of the Oakland Traction Consol. and the Berkeley Traction
Co. See V.83, p. 1229. The Oakland Traction Consol. was a consolidation
of the Oakland Transit Consol. and the Webster Street & Park By. See V.
79, p. 1462. The Oakland Transit Consolidated was a consolidation on
Mar. 29 1902 of the Oakland Transit and the Oakland San Leandro & Hayward's Elec. By. Consolidated. Controlled by "Realty Syndicate."
Franchises expire from 1933 to 1942. Comprises practically all the street
railways doing business in Oakland, Alameda, Berkley and County of Alameda. On April 27 1901 began using power furnished by the Bay Counties
Power Co., which power is generated by the Yuba River and transmitted
the 140 miles by copper cables.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSCommon,$10,875,000 ($100)
$10,875,000
Pref. 6% cum., $7,050,000,)
7,050,000
$160
5 g J-J18
Oak. Trac. Co. gen. con. 1907
2,900,000 Jan.18 1935
g., $12,000,000, Int. at Wells, Fargo-Nevada Nat. Bk., San
mtge.
Fran. Union Tr. Co., San Fran., Trustee.
sink. 'fund ($1,000)___ _ce
5 g J-J
i 1905
Gen. consolidated mtge., Oak)
2,154,000 Jan. 2 1933
Trac. Consol., $7,000,000 Int. at Wells Fargo do Co., Bank, N. Y. dc
c San Fran.; Union Tr. Co., San Fran., Trustee
gold ($1,000)
5 g J-J
1st cons. M., $4,806,000) 1902
1,291,000 July 1 1932
Transit Con.,}Union Trust Co., San Francisco, Trustee.
Oakland
cs1
g., s. f. ($1,000)
5 g J-J
1st con. s. f. M. Oak. Tran.{ 1901
1,600,000 July 1 1931
$3,000,000 ($1,000). g...c. Mercantile Trust Co.. San Fran., Trustee.
Int. at Wells Fargo & Co., Bank, N. Y.& S.F
6 g J-J
1st mtge.Oakland Transit Co .1 1898
1,400,000 July 7 1918
$1,400,000, g., s. f., not}Int. at Wells Fargo & Co., Bank, N.Y. and
el S.F.,or at Cal. Safe Dep. do Tr. Co., Trust.
sub. to call
6 g M-S
Oak. San Leandro dc Hay.1 1892
$250,000 Mar. 1 1922
El. By. lstM. g. ($1,000) _f Int. at Wells Fargo & Co. Bank, N. Y.& S. F.
6 g M-S 15 250,000 Mar. 1 1923
23d Ave. El. By. 1st mort.,1 1893
JInt. at Wells Fargo & Co., Bank, N.Y.& S.F.
gold ($1,000)
Mortgage trustee is the California Title Ins. & Trust Co., San Francisco.
Bonds.-Of the $12,000,000 bonds of 1907, $7,000,000 are reserved for
prior liens. A sinking fund beg n in 1907 which will retire about $7,000,000 bonds by 1932. Of the $7,000,000 Oakland Traction consolidated
mortgage, $4,826,000 are reserved to retire prior liens. A sinking fund
began in 1906 which will retire $6,000,000 bonds by July 1 1928. See V.
81, p. 668. Of the first consol. mortgage of 1902 of the Oakland Transit
Consolidated, $3,500,000 are reserved for prior liens and the balance was pre
viously reserved for extensions and improvements, but shareholders voted
on June 17 1904 to cancel this portion of bonds. See V. 78, p. 2385. A
sinking fund for these bonds commenced in 1903 and ranges from $10,000 to
$250.000 per year, which will retire at maturity $4,000,000 bonds. Bonds
not subject to call, but may be purchased for sinking fund in open market.
See V. 75, p. 135. Of the $3,000,000 first consols Oakland Transit, $1,400,000 reserved to retire underlying liens at maturity. A sinking fund commences on these bonds In 1912 which will retire or provide for $2,000,000 of
the bonds on or before maturity. Interest on both consol. mortgages is payable at Wells. Fargo do Co. Bank In New York and San Francisco.
Both the Oakland San Leandro ec Hay. Elec. Ry. and the 23d Ave. Elec.
By. mortgages have sinking fund commencing ten years after date and
Increasing from 2% yearly (of total bonds outstanding) for the first five years
to 8% for last five years. The bonds are not subject to call before maturity
REPORT of combined properties for calendar year 1907, gross, 52,789,685; net, $1,382,889; charges, $534,008: surplus, $848,881. In 1906,
gross, $2,226,017; net, $1,252,762; charges, $428.142: surplus. 8824,620.
ROAD.-Operates 161 miles of trolley, extending from Oakland to Alameda, Piedmont, Berkeley, Fruitvale, East Oakland, San Leandro and
Haywards.
OFFICERS.-Pres., E. A. Heron; 1st V.-P., Henry Wadsworth; 2d
V.-P. and Gen. Mgr. W. F. Kelly; Treas., F. C. Havens; Sec., Samuel J.
Taylor; Ass't Sec. V. W. Frost; Ass't Gen. Mgr., J. Q. Brown.-V. 80,
p. 1479; V. 81, p.'
668; V. 83, 1229.
}
OIL CITY, PA.
CITIZENS TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated in Pennsylvania May 23 1902. Controls the Citizens' Light & Power Co. (capital $75,000), the Monarch Park
Hotel Co. (practically an amusement park with 60 acres of ground), the
Big Rock Bridge Co. and the Reno Bridge Co.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Common $1,000,000 ($50) _ _ _ - $1,000,000 No div.
Preferred $1,000.000 ($50) _ _ _
1,000,000 No div.
1st mortgage $750,000 gold) ___5%
750,000 July 31 1935
($1,000)
}Int. at Penn. Co. for Ins. on Lives & Grant.
1 Annuities, Philadelphia, Trustee.
EARNINGS.-Citizens' Traction only for year ending June 30 1907
gross, $198,200; net, $50,106; interest, $37,500; surplus, $12,604.
• ROAD.-Operates 33.32 miles of track connecting Franklin and Oil City
by two routes (on either side of the Allegheny) and reaching the boroughs
of Rouseville and Siveriy. 56-lb. to 70-lb. T rail and 85-11). girder rail.
Has 55 cars. The controlled Citizens' Light do Power Co. furnishes electric
light and power for 011 City and vicinity.
[VOL. Lxxxvir.
OFFICERS.-Pres., Joseph Seep. Titusville; V.-P., William Hasson;
Sec. and Treas., George G. Sloan; Gen. Man., F. D. Shaffer.-V.85. fo• 598.
,
OKLAHOMA CITY, OKLA..
OKLAHOMA R Y. CO.-A trolley road.
The same interests control the Guthrie Street By. system of 7 miles.
ORGANIZATION.-Incorporated in Oklahoma on June 15 1904 under
the name of Oklahoma City By. Co. and successor July 1 1904 to the
Metropolitan By. Co. City franchise perpetual and exclusive on streets
occupied.
On Sept. 21 1907 changed name to Oklahoma Ry. Co., increasing charter
powers so as to constitute both an urban and interurban road and Increasing stock from $1,000,000 to $3,000,000.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
Common $2,000,000 4100)- _ _--$2,000,000
Pref, $1,000,000 5% cum
350,000
Oklahoma City 1st AI ($1,-) 1904
5 g J-J
1,000,000 July 1 1934
000,000 gold ($1,000)__c* Int. at Iron City Tr. Co., Pittsburgh, Trustee
First and refunding mtge,l 1907
5 g J-J
450,000 Jan 1 1938
$3,000,000 ($1,000), g- _c* Int. at Iron City Trust Co., PIttsb.. Trustee.
Bonds.-Of the new bonds $1,000,000 are reserved to retire the 5s of
$1,550,000
1904 and
for future extensions and betterments at 95 % of cost
and issuable only when net earnings are double int. charges, Including int.
on bonds to be Issued. Can be called in 1918 on 90 days' notice at 110 and
interest. No sinking fund. Of the 1904 bonds, $650,000 are being used
as collateral to secure 5% notes amounting to $600,000, and which mature
July 1 1909 but redeemable at any int. payment. These 1904 bonds are
subject to call in any amount at 110 and Int, on and after July 1 1914. See
V. 79. p. 213.
EARNINGS.-For year ending Dec. 311007, gross, 1271,823; net, $115,823; fixed charges, $42,642• surplus, $73,181.
ROAD.-Operates 33 miles of track in Oklahoma City and suburbs and
46 passenger cars and 15 other cars. Is building an extension to Guthrie, of
which 8 mlies to Britton is completed.
OFFICERS.-Pres., Anton H. Classen; V.-P., J. W. Shartel: Treas.,
G. H. Brauer; Sec., Henry M. Brauer; Supt., C. W. Ford, all of Oklahoma
City.-V. 79, p. 213; V. 85, p. 922.
OLEAN, N. Y.
WESTERN NEW YORK & PENNSYLVANIA TRACTION CO.-A
trolley road.
ORGANIZATION.-Incorporated in New York and Pennsylvania on
Nov. 17 1906, and is a consolidation of the Olean Street By, and the Rock
City RR., the latter being a reorganization of the Olean Rock City & Bradford Ry. Bradford St. Ry. has also been absorbed.
STOCK AND BONDS.- Date.
Interest. Outstanding. mammy.
Common $1,000,000 ($100)
$1,000,000
Pref $1,000,000 ($100) _
1,000,000
1st and ref mtge $5,000,000 1907
2,474,000 Jan 1 1957
5 g J-J
gold ($1,000)
calInt. at Trust Co. of Amer., N. Y., Trustee.
Olean Street By 1st mtge't 1899
204,000 Nov 1 1929
5 g M-N
$225.000 ($1,000) goith_cafInt. at Fidelity Trust Co., Buffalo, Trustee.
Olean St By 1st eaten mtge 1901
122,000 Aug 1 1931
5 g F-A
$130.000 ($1,000) gold. Int. at Fidelity Trust Co., Buffalo, Trustee.
(Cannot be called)._ _ _c*J Sinking fund of $2,000 commenced in 1005.
Bonds.-01 the $5,000,000 new bonds, $326,000 are reserved for prior
liens. Are subject to call on or before Jan. 1 1912 at 105 and Interest; thereafter at 110 and interest.
Sinking fund on Olean Street Ry. 1st mtge. of 1899 became operative In
Nov. 1901, $4,000 being paid annually; $21,000 had been paid to Feb. 1
1907. Bonds cannot be called. A sinking fund on the 151 mtge. extension
bonds became operative Aug. 1 1903; $8,000 had been paid into the fund
June 1 1907. In addition. the Shinglehouse RR., whose stock is owned.
has $58,000 % bonds due in 1933.
ROAD.-Operates about 83 miles of track in Olean and Bradford and between those points, and lines to Lewis Run, Portville, Allegheny, Bolivar
and Ceres, where connection Is made with the Shingiehouse RR. In addition operates an extension of 1534 miles to Salamanca, which was completed
during 1907.
OFFICERS.-Pres., W. R. Page, Olean; V.-P. and Treas., Jos. B.
Mayer, New York;Sec.,Jos. L. Page,Olean.-V.83. p. 1292; V.84, p. 1429.
OMAHA, NEB.
OMAHA & COUNCIL BLUFFS Si REET RY.-A trolley road.
ORGANIZATION.-Incorporated in Nebraska. Owns lines formerly
operated by Omaha Street By. Co.; leases the Omaha & Council Bluffs By.
& Bridge Co. In Council Bluffs, Ia., until 1947, together with its bridge over
Missouri River, rental being $60,000 per annum, In addition to all fixed
charges.
STOCK AND BONDSDate.
interest. Outstanding. Maturity.
Common $10,000,000 ($100)$5,000,000Jne 3008,2 %
Pref 5% cum from Jan 1 1904} ___.
5 Q-J
4,000,0000ct.'08.1 y,%
$5,000,000 ($100)
Omaha St By 1st consol mtge 1889
5 g M-N
2,500,000 May 1 1914
$2,500,000 gold
Interest at Farmers' Loan & Tr. Co., N. Y.
Om & C B St Ry 1st con mtge 1902
5 g J-J
5,351,000 Jan 1 1928
$10,000,000 gold ($1,000) Interest at Morton Trust Co., New York,
no sinking fund
c*J Trustee.
Stock and Bonds.-$5,000,000 common and $1,000,000 preferred stock
are set aside for additions and Improvements. Of the new $10,000,000
mortgage, $2,500,000 is reserved to retire a like amount of Omaha Street
By. bonds. Remainder reserved for extensions and Improvements at 85%
of cost. The $10,000,000 consol. bonds are further secured by deposit of
$915,000 of the Om. ec Coun. Bi. By. & Br. 1st cons. Is. V. 79, p. 2086.
Dividends.-Flrst dividend on pref. stock, 134 %,was paid Apr. 1 1904,
and same amount quarterly to and including Oct. 1908. On corn., 1st d iv.
2%. paid July 1907, and 2% paid Jan. and June 1908.
REPORT.-Company's policy Is not to make earnings public, but for
calendar year 1905 results were: Gross, $1,709,641; net, $950,055; taxes
and rentals, $192,139; other income, $4,032; Interest, $365,515; surplus.
$396,433.
ROAD.-Owns 110 miles of track, being all the street railways in Omaha
and South Omaha, Florence, Benson and Dundee, Neb. Also, by lease or
stock control, receives the earnings of all street railways In Council Bluffs,
Ia. (30 miles), including the Omaha do Council Bluffs bridge, making a
total operated or controlled 140 miles.
OFFICERS.-Pres.. G. W. Wattles; V.-P., Frank T. Hamilton: See.,
R. A. Leussler; Treas. and Gen. Mgr.. W. A. SmIth.-V. 86, p. 169.
(1) Omaha & Council Bluffs Railway & Bridge.
ORGANIZATION.-Incorporated in Iowa. An electric road. Is leased
to the Omaha & Council Bluffs Street By. For terms of lease,see statement
of the latter above. Owns entire capital stock of the Omaha Council Bluffs
& Suburban By. and the Lake Manawa do Manhattan Beach By. The
$600,000 mortgage of the former company, made to the Royal Trust Co.
of Chicago and Albert E. Johnson, as trustees, is all held by the By. 63
Bridge Co. Lake Manawa do Manhattan Beach has no funded debt.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
Common $1,500,000 ($100)
$1,500,000
Pref4% cum from Feb 11907)
1,500,000 In 1907,4%
M-A
51,500,000 (5100)
1st mtge (see below) gold 1888
400,000 Jan 1 1910
6 g J-J
($1,000) sink fund $500,- Subject to call at 110 In 1899.
000
c*J Int. at Mercantile Trust Co., N. Y., Trustee.
1st consol txtge $2.000,0001 1902
See text Jan 1 1928
5 J-J
($1,000)
cal Interest at Central Trust Co., N. Y., Trustee,
Bonds GuaranteedCouncil Bluffs St By 1st mtge) 1889
250,000 July 1 1909
5 g J-J
$250,000 g ($1,000) guar}Subject to call at 106 in 1809.
p do I (end )sink fund.- Ca)Int. at Mercantile Tr. Co.,N. Y., Trustee.
Bonds.-Of the new 1st consolidated mortgage for $2,000,000, $915,000
kre deposited as part security for the bonds of the Omaha do Council Bluffs
St. By., $650,000 are reserved for prior liens and $435,000 for Improvements.
The first mtge. 6s matured Jan. 1 1908 but were extended for 2 years at
same rate of interest. The $100,000 unissued are deposited as security for
the 0. & C. B. By. & Bridge consol. 55, as also are $600,000 bonds of the
Omaha Council Bluffs & Suburban By. The sinking fund on the first Cs
was $20,000 yearly till Jan. 11890 and thereafter $30,000.
ROAD.-Comprises 30 miles of track, including the trackage of the
Omaha Council Bluffs & Suburban Ry. and the Lake Manawa & Manhattan
Beach By., embracing the entire street railways of Council Bluffs. Also
owns bridge between Omaha and Council Bluffs over the Missouri River.
OFFICERS.-Pres., J. H. Millard; V.-P., Geo. F. Wright; Sec., C. T.
Stewart; Treas., E. E. Hart.-V.77, P. 37.
81
ELECTRIC RAILWAYS
SEPT., 1908.]
ONEONTA, N. Y.
ONEONTA & MOHAWK VALLEY RAILROAD CO.-A trolley road.
Receivership.-In June 1908 J. C. Choate was appointed receiver. The
Rochester Trust & Safe Deposit Co. has obtained a judgment of $300,000
against company. Road is to be sold Oct. 9 1908.
ORGANIZATION.-Incorporated in New York on May 8 1906 and Is
successor 4t foreclosure to the Oneonta Cooperstown & Richfield Springs Ry.
Interest. Outstanding. Maturity.
STOCK AND BONDS.- Date,
$1,800,000
Stock *1,800,000 ($100)
1,300,000 July 1 1946
See text
1st M $1,800,000 ($1,000)J 1006
c* 1Colonial Trust Co., New York, Trustee.
gold
Bonds.-Bonds bear 3% int. the first three years, 4% the next two years
and 5% thereafter. Int. Is payable in gold, J.& J. Subject to call at 105.
EARNINGS.-For year ending June 30 1907, gross, $165,937; net
$20,041; fixed charges, $45,224; deficit, $25,183.
ROAD.-Owns and operates 67.04 miles of track between Oneonta,
Cooperstown, Richfield Springs and Mohawk, at which latter point it connects with the Utica & Mohawk Valley Ry. for Utica, 13 miles. Total
operated, 80.04 miles. Rails, 60 to 90 lbs.; 39 cars.
OFFICERS.-Pres., H. W. Bean, New York; V.-P., H. A. Kahler; Sec.,
H. W. Acton, New York; Treas., P. S. Babcock, New York; Gen. Mgr.,
J. C. Choate.-V. 78, p. 1168; V. 80, p. 1972; V. 82, p. 629, 1157.
OSHKOSH, WIS.
WISCONSIN ELECTRIC R Y.-A trolley road.
Same interests control Eastern Wisconsin Ry. & Light Co.
ORGANIZATION.-Incorporated Aug. 16 1908 in Wisconsin and
succeeded the Winnebago Traction Co., sold at foreclosure Aug. 6 1908,
as per plan in V. 85, p. 655. Latter company was a reorganization of
Citizens' Traction Co. In 1900. Franchises run to 1932.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
Stock $350,000
$350,000
(1)
(?)
5%
1st mtge $1,250,000
(?)
(?)
(?)
2d mtge $400,000
(1)
(?)
Bonds.-Under the reorganization 2d mtge. bonds are to bear 3% interest
the first year, 4% the second year and 5% thereafter.
EARNINGS.-Of Winnebago Traction for cal. year 1907, gross, $146,348;
In 1906, gross, $144,315.
ROAD.-Owns 38 miles of road -15 miles in Oshkosh,15 miles of interurban road running to Weenah and Menasha and 8 miles in Omro.
OFFICERS.-Pres., Oliver C. Fuller; Sec., Fred. C. Best: Treas., Russell
C. Smith; Gen. Mgr., Clement C. Smith. V. 87, p. 348, 481.
(3) Quincy Horse Railway & Carrying Co.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
$600,000
Stock,$600,000 ($100)First mortgage ($500 each)__ f 1890
140,000 Oct. 1 1910
5 A-0
1E. J. Parker. J. F. Carrott, Quincy, Ill.,Trus.
First consdIdated mortgage,' 1898
395,000 Oct. 1 1918
5 g A-0
$550,000, gold
c*lInt. at Portland Tr. Co.,Portland, Me.,Trus.
Interest on first mortgage payable at Quincy (Ill.) Trust Co.
Of the 5s of 1898, $140,000 will be used to retire the first 5s and $28,000
retained by trustee for future extensions and improvements.
EARNINGS.-For year 1906, gross, $147,821; in 1905, gross. $140,994.
ROAD.-Operates 17.4 miles of track.
OFFICERS.-Pres.. Geo. F. Duncan, Portland, Me.; Sec., W. B.
McKinley, Quincy, Ill,;Treas.. W. H. Carnahan; Gen. Mgr., H. E. Chubbock.-V. 67, p. 372, 737.
(4) Wichita Railroad & Light.-Trolley.
ORGANIZATION.-Chartered May 1 1900 for 30 years. Franchise expires 1933. Owns a street-lighting plant and has contract for city lighting.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Stock,$300,000 ($100)
$300,000
First mortgage, $300.0001 1900
5 g A-0
300,000 April 1920
cl Int. at Portland Tr. Co.,Portland, Me.,Trus.
($1.000) gold
Bonds.-Bonds are subject to call at 105 on 6 months notice.
EARN1NGS.-For calendar year 1906, Gross, $194,002; in 1905.
$166,909.
ROAD.-Owns 2334 miles of trolley track In Wichita, Kansas, Including
new double-track bridge, over the Arkansas River, and extensions to
Wonderland Park and Fair Grounds.
OFFICERS.-Pres., Geo. F. Duncan. Portland, Me.; Gen. Mgr., H. E.
Chubbuck; Sec. and Treas., Edw. Woodman, Portland, Me.; Supt., W. R.
Morrison, Wichita.
(5) Chicago Ottawa & Peoria Ry. Co.Operates between Princeton and Seneca, Ill., and is commencing work
on a branch from Ottawa to Streator, Ill., connecting with main line at
Ottawa. Stock all owned by Western Rys. & Light Co. Bonds,$5,000,000.
of which $1,400,000 are outstanding: Central Trust Co. of Illinois, trustee.
They are dated 1907, due Dec. 11937; denomination ($1,000); guar. prin.
and int. by Western Rys. & Light Co.
NORTHERN ILLINOIS LIGHT Ec TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated in Illinois and is successor in July 1003
to the Ottawa Railway, Light & Power Co., sold under foreclosure. Franchise perpetual for lighting and until March 1924 for railway. Has contract
for city lighting.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
OSSINING, N. Y.
$250.000
Stock, $250,000 ($100)
NVESTCHESTER TRACTION.-A trolley road.
5 g J-J
265.000 July 1 1923
1st mtge, $1,200,000, goldl 1903
Receivership.-On March 13 1908 Edward G. Benedict was appointed
c•fInt. at American Tr. Co., Boston, Trustee.
and $1,000)
($500
receiver in a suit brought by Industrial Constructing Co. of Delaware to
Bonds.-No sinking fund and bonds cannot be called.
recover $32.050. See V. 86, p. 670.
EARNINGS.-For 12 months ending Dec. 31 1907, gross, $66,420; net,
ORGANIZATION.-This company, a merger on Feb. 171902,absorbed $31,016; Interest, $13,250. In 1906, gross, $62,395; net, $27,993.
the Ossining Electric Ry., which was chartered June 7 1903.
ROAD AND PLANT.-Operates 7.5 miles of line, covering the prinInterest. Outstanding. Maturity. cipal streets of Ottawa. and also runs out of the city to Ellis Park, a pleasure
STOCK AND BONDS- Date.
$300,000
Stock, $1,500,000 ($100)
on the Illinois River. Also has entensions from Ottawa to Chautauresort
See text. Apr 1 1932 qua Park. Equipment. 11 motor and 7 trail cars. Has both steam and
5 g A-0
1st mtge, $1,500,000, goldl 1902
c&rf New York Trust Co., New York, Trustee. water-power plants for generating power, which can be operated Inde($1,000)
Bonds.-Of the 1st mtge. bonds, $138,000 are in hands of public,$462,00J pendently If necessary. Is supplying 155 enclosed arc lights under city
are held by the Construction Co. and $900,000 are reserved for extensions.
contract and 154 for commercial lighting. Also 18,865 Incandescent lights,
ROAD.-Owns about 3 miles of road and power house in Ossining.
h. p. In motors and one 200-k. w. and one 300-k. w. alternator and
50 miles in all proposed to various places in the county. Extension to 46734
one 500-k. w. turbine for street lighting.
Pleasantville to be pullt, and present road rebuilt.
E. W. Rollins, Boston; V.-P., G. H. Taylor: Sec.
OFFICERS.-Pres.,
Heller;
R.
Thos.
-P.,
V.
York:
OFFICERS.-Pres., A. R. Law, New
and Treas., J. S. Pishon; Gen. Mgr., Louis W. Hess.-V. 82, p. 1041.
Sec. and Treas., C. E. Lent, N. Y.-V. 76, p. 867; V. 86, p. 670.
OSWEGO, N Y.
OTTUMWA, IOWA.
• OTTUMWA RAILWAY & LIGHT CO.-Trolley.
OSWEGO TRACTION.-Trolley.
ORGANIZATION.-Incorporated in Delaware In Dec. 1905 as sucSold.-In Aug. 1908 property was sold under foreclosure of 1st mtge.
latter's franchises for
and purchased by W. A. Holden of Syracuse in the interests of the bond- cessor to the Ottumwa Traction & Light Co. The plants
were extended
street
railway, electric lighting and steam-heating
reorganize
property.
will
the
syndicate
Beebe
The
holders.
ORGANIZATION.-Incorporated at Albany June 1 1899 as successor by municipal election on July 8 1901 for 25 years from May 23 1901.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
to the Oswego Street Ry. and the Lake Ontario & Riverside, sold at fore$1,000,000
closure April 10 1899, according to plan in V.65, p. 278. Charter perpetual. Corn.. $1,000,000 ($100)------ ---.
500,000
miles of track. Rails, 45 to 110-1b. standard Pref.,$500,000 ($100)
ROAD.-Operated 11
5 g J-J
1st and ref. mtg.. $1,500,-1 1906
660.000 jan.1 1924
gauge. Operated 26 cars.
Central
at
($1,000)
Int.
c*
gold
Trust
000,
Chicago. Trustee.
Co.,
$11,324;
net,
EARNINGS.-Year ending June 30 1908, gross, $57,810;
5 g A-0
Ott. Tr. & Lt. 1st M., $500.-1 1901
340,000 Oct 1 1921
charges, $13,226; deficit, $1,902.-V. 83, p. 96, 1471.
000 ($1,000) gold, s f c* Int at U.S. Mort. & Tr. Co., N. Y.. Trustee,
Bonds.-Of the authorized issue of $1,500,000, $340.000 are reserved
to retire prior liens and $500,000 are reserved for extensions and betterOTTAWA, ILL.
The new bonds are subject to call after Jan. 1 1909 at 103 and
ments.
11111WES1 ERN RAILWAYS & LIGHT CO.
Interest. A sinking fund of 1 % per annum of bonds out commences July 1
Controlled by same interests that control the Illinois Traction Co.
Ottumwa Traction & Light Co. bonds can be called after Oct. 1
The
1909.
capital
the
all
owns
and
Maine.
in
-Incorporated
ORGANIZATION.
1911 at 105 and interest and each year thereafter at 34 % less until par Is
stock of the following:
reached. Bonds numbered 1 to 20 may be redeemed at 105 and int. after
1Galesburg Railway & Light Co.
Illinois Valley Railway Co.
Oct. 1 1907. V. 74, p. 95. Sinking fund on these bonds of $5,000
Quincy Horse Ry. & Carrying Co.
Chicago Ottawa & Peoria Ry. Co
annually is operative from 1907 to 1909 and $8,000 annually from
Citizens' Ry. of La Salle and Peru
I Wichita Railway & Light Co.
1910 to 1920. Proportionate sinking fund is provided for the $160,000
Central Ltg. Co. of La Salle & Peru.
reserved bonds as they are issued.
Outstanding.
Dividends.
STOCKEARNINGS.-For year ending Dec. 31 1907, gross, $197,998; net after
$3,890,000
Common, $4,000,000 ($100)
taxes, $90,121; In 1906, gross. $179,969; net after taxes, $80,438.
1,700,000
Pref., $1,750,000 ($100)
-Operates 1134 miles of trolley road in city of Ottumwa, Iowa.
ROAD.
OFFICERS.-Pres., W. B. McKinley; Treas., E. Woodman; Sec., J. B. Weight of rails, 60-lb. T. Standard gauge. Also does municipal, comMacauley;;Comptroller, E. W. Hendershot; Gen. Mgr., H. E. Chubbuck.
mercial and residence electric-lighting (including 125 miles of pole line.
carrying 200 miles of wire); supplies electric power for stationary motors.
(1) Illinois Valley Ry.-Trolley.
ORGAN IZATION.-Was formerly known as the Illinois Valley Traction &c., and operates a system of steam heating, with 334 miles of mains.
OFFICERS.-Pres., Arthus S. Huey; Sec.. J. J.O'Brien.-V.82,p.1269.
Company, but was succeeded by the Illinois Valley Railway Company, a
new corporation, in 1904. The latter is organized under the steam railroad
law, and has power of condemning property for right of way. On May 1
OWENSBORO, KY.
1903 the Illinois Valley Traction had acquired the Ottawa Marseilles &
OWENSBORO CITY RAILROAD.-A trolley road.
Morris River Ry.
Maturity.
Interest. Outstanding.
PIIISTOCK AND BONDS- Date.
ORGANIZATION.-Chartered in 1886. Franchise runs till 1938 and
$100.000
.
Stock,$100,000 ($100)
gives exclusive rights to operate street railway in said city. The pref. stock
1,500,000 Sept 1 1935 was created in Feb. 1907. V. 84, p. 390.
5 g M-S
1st mtge, $2,000,000, goldl 1905
cf Int. at Portland (Me.) Trust Co., Trustee. STOCK AND BONDS($500 and $1,000)
Maturity.
Outstanding.
Interest.
Date.
Bonds.-Bonds have a sinking fund of 1 % per annum of amount out- Corn., $75,000 (par $50)
$50,000 f. p.
_-__
standing. Are subject to call for s. I. after March 1 1906 at 105; for other Pref.. 6%,$40,000___
40,000
purposes after March 1 1910.
200,000 Jan. 1 1932
5 g J-J
New M., $200,000 g.1
1902
EARNINGS.-For cal. year 1906, gross, $187,019; net after taxes.
($1,000)c&r.notred.f Interest at Louisville Tr, Co., Trustee.
$93,618; interest, $53,540; surplus, $40,078; in 1905. gross, $167,015.
EARNINGS.-For calendar year 1906, gross, $52,117; oper. expenses.
ROAD.-In operation La Salle to Ladd, 11.9 miles; in La Salle City, 4.3 $31,959; net,$20,158.
m.; Marseilles to Utica, 16.72 m.; connecting link between Utica and La
ROAD.-Owns 13 f miles of trolley track In Owensboro and suburbs;
Salle, 4.24 m., is completed: also line from Marseilles to Seneca, 534 miles: 56-1b. rail; 20 motor cars, double G. E. 800; 5 trailers, 25 10-ton coal cars.
also line from Spring Valley via De Pue and Bureau, to Princeton, 1834 m.; Has erected a new power house with a 200 k. w. generator and 2,300 h. p.
total 61.16 miles. Operates 20 interurban cars.
boilers.
OFFICERS.-Pres., W. B. McKinley, Champaign, Ill.; V.-P., Geo. F. water-tube
OFFICERS.-Pres., John G. Delker; Sec. and Supt., S. C. Ray; Treas.,
Duncan, Portland, Me.; Sec. and Treas., Edward Woodman, Portland, Me. J. H. Parrish.-V.79, p. 270; V. 84, p. 340.
-V.76, p. 1192.
(2) Galesburg Railway & Light.
OWOSSO, MICH.
Controlled by the Western Railways & Light Co.
ORGANIZATION.-Incorporated in Maine in 1904, and is a consolidaowosso & CORUNNA ELECTRIC CO.tion of the Galesburg Electric Motor & Power Co. and the Galesburg Gas
consolidation on March 14 1899 of the Owosso &
-A
ORGANIZATION.
& Electric Light Co. Franchises expire in 1920.
Corunna Tract. Co. and the Caledonia Electric Light & Power Co.
Interest. Outstanding. Maturity.
Date.
In erest Outstanding. Maturity.
Date.
STOCK AND BONDSSTOCK AND BONDS$1,000,000
$150,000
Stock,$150.000 ($100)--Stock $1,500,000($100)-----685,000 July 1 1934 1st mort., $120,000, goldl ---5 g J-J
1924
5 g J-J
120,000
New mortgage $1,500,000 1904
c Int. at Portland Tr. Co.,Portland, Me.,Trus.
c.f Fidelity Trust Co., Philadelphia, Trustee.
gold ($1, 0 )
($1,000)
350,000 April 1 1919
5 g A-0
EARNINGS.-Calendar year 1907, gross, $44,000; In 1906, $42,000.
Galesburg Gas & Elec Lt first 1899
ROAD.-Operates a 5 mile road between Owosso and Corunna; also does
mtge $350,000 ($1,000) c Int. at Portland Tr. Co..Portland, Me.,Trus.
171,000 Sept. 1 1912 electric-lighting business and has contract with the city of Owosso for lightGalesburg E M & P mortgage 1902 5 cur M-S
$205,000 gold ($1,000)_0* Int. at First Nat. Bank, Galesburg, Trustee. ing until August 1909.
Bonds.-The new $1,500,000 issue Is subject to caltion any interest date
OFFICERS.-Pres., G. H. Stephenson. Phila.; Sec. & Treas.. J. Tracey
at 105 and interest; no sinking fund; $521,000 arc reserved for the prior Eustis, Boston; Supt., Lawrence Manning, Owosso.
L. F. Wertman,
liens and $294,000 for extensions and improvements. Galesburg
Electric
Pres. First National Bank, Galesburg, Is trustee of the
PADUCAH, KY.
Motor & Power Co. bonds. Can be called 3 years after date at 103.
EARNINGS.-For calendar year 1908, $251,778.
PADUCAH TRACTION & LIGHT CO.
ROAD.-Owns 20 miles of track laid!with 60-lb. T rails in Galesburg, Ill.,
-Incorporated in Maine on Nov. 17 1905 and owns
extending also to East Galesburg and Knoxville; also three extensions aggre- allORGANIZATION.
the securities of the Paducah Trac. Co. and Paducah Lt. & Power Co.
gating 4 miles, built and put in operation in 1900. Operates 42 cars. Has Besides
railway business, does the entire commercial electric lighting,
built a new power-house to generate current for both the street railway and gas andstreet
steam heating business of the city. Street railway and electric
electric-light plant, and will also do steam heating. See V. 78, p. 2384.
1924, steam heating franchises in 1922 and gas
OFFICERS.-Pres., Geo. F. Duncan; Sec. and Treas., Edward Wood- lighting franchises expire in
is perpetual.
franchise
-V.
2384.
p.
78.
Salle.
Chubbuck,
La
E.
H.
Mgr.,
Me.;
Portland,
man,
81
ELECTRIC RAILWAYS
[VoL. Lxxxvi .
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
Common,$1,000,000 ($100)
$1,000,000
Pref., 5%, $1,000,000 ($100)1
500,000 June'07, 1 %
Coll. tr. mtg., $2,000,000,) 1905
5 g M-N
657,000 Nov. 1 1935
gold
)Int. at State St. Trust Co., Boston, Trustee.
Pad. St. Ry mort., s. f.
)1890
6 g J-J
100,000 July 1 1920
1Col.Finance & Trust Co. Loulsv.. rrustee.
Pad. St. Ry. mortgage
1893
6
16;0,000
1923
Peop.L't & Power mortgage _ 1898
6
100.000
1918
Paducah City Ry. M.,$1,0001 1902
5 g J•J
325,000 May 21 '32
000, g.. ($500-$1,000)_c* Int. at N. Y. Trust Co. N. Y., Trustee.
Stock and Bonds.-01 the 2,000,000 new bonds, '
$543,000 arc reserved
to retire prior liens and $800,000 for future improvements. Subject to call
as a whole at 105 and interest. A sinking lund. if earned, of 1 % per annum
outstanding
bonds commences Nov. 1 1908, and becomes obligatoryNov.
of
1 1911. Preferred stock is redeemable at 110; is non-cumulative until Dec.
1 1907; thereafter is cumulative.
Dividends.-First dividend on pref. stock. 1 %, was paid Dec. 1 1906.
nd 1 % was paid again on June 1 1907.
EARNINGS.-For calendar year 1907, gross, $237,513; net, after taxes,
$72,264; fixed charges, $69,615; dividend on pref. (1%). $5,000; deficit,
$2,351; in 1906, gross, $227,278; net, after taxes, $77,297; fixed charges,
$63,705; surplus, $13,592.
ROAD.-Operates 17 miles of track; 35 to 60-1b. rail; standard gauge;r 48
Cars.
OFFICERS.OFFICERS.-P
Pres.
res., Guy E. Tripp; V.-P., Joseph L. Friedman,Paducah;
Sec., Alvah K. Todd;
Henry B. Sawyer; Auditors, Stone & Webster,
Boston.-V. 81, p. 1175, 1610; V. 83, p. 1229.
Bonds.-Whole issue (but no fractional part) can be redeemed on any
Interest date at 110 and interest after Oct. 1 1905. Sinking fund is provided
at the rate of $10 80 per bond outstanding, beginning Oct. 1903. The remaining $122,000 can only be issued for extensions, &c., at 75% of actual
cost, and only when net earnings of the previous 12 months are equal to
at least twice the interest on the outstanding bonds and the proposed issue.
See V.71, p. 913.
Dividends.-6% per annum Is being paid on pref. stock. On common,
in 1906, 1%; in 1907, 3 A %;in 1908, Jan., 1%; Apr., 1%; July, 1%.
REPORT.-Year to June 30: Gross.
Net. Int.ecSink.Fd. Surplus.
1906-07
$156,350
$70,449
$36,029
$34,420
1905-06
134,530
63,487
34,960
28,527
1904-05
119,165
50,598
34,960
15,638
iq...
1 11
• Aer
ft taxes.
ROAD.-O wns and operates 10.36 miles of track in Peekskill
Mohegan and Verplanck's Point, with branch to State Camp. and to Lake
OFFICERS.-Pres., F. A. Stratton, Mt. Vernon; V.-P., Stuart Wilder,
Ossining; Sec., Chas. H. Werner, 3 South William St., N. Y.
City; Treas.,
W. B. Clements, Ossining. General office, Peekskill, N. Y.-V.
82
p. 1041; V. 85, p. 103.
(3) Northern Westchester Lighting Co.
ORGANIZATION.-Incorporated May 6 1905 in New York and has
acquired the Briarcliff Manor Light & Power Co., the Croton
Electric Light
& Power Co., the Ossining Heat, Light & Power Co., the Northern
Westchester Light & Power Co., the Sing Sing Gas
Mfg. Co. and the Sing Sing
Electric Lighting Co.
STOCK AND BONDS.Date.
Interest. Outstanding. Maturity.
Stock $1,000,000 ($100)$804,000
1st consol mtge $l,000,0001 1905
5 g J-D
830,000
1955
PARKERSBURG, W. VA.
($1,000) gold
c•fInt. at Trust Co. of America, N. Y., trustee.
Bonds.
-Are
subject to call after 1910 at 105. $72,000 prior liens
PARKERSBURG MARIETTA & INTERURBAN RY -A trolley road.
are
outstanding for which same amount of consol. mtge. are
ORGANIZATION.-Consolidation of the Parkersburg & Interurban By..
reserved.
EARNINGS.-For year ending Dec. 31 1907, gross,
$113,209; net,
the Parkersburg Gas, Elec. Lt. & St. By. Co. and the Marietta Elec. Co. $48,143; charges, $35,022;
surplus, $13,121; in 1906, gross, $95,229 net,
STOCK AND BONDSDate.
Interest. Outstanding. Maturity. $34,960.
I Lock,$440,000
OFFICERS.-Same as Peekskill Ltg. & RR. Co. V. 87, p.
$440,000
817.
mortgage,
gold
•
1898
st
5
150,000
1938
1902
0onsol. mtge
450,000
1942
PENSACOLA, FLA
EARNINGS.-For year ending April 30 1905. gross, $201,498.
ROAD.-Operates41 miles of track, ineluding an extension of 12 miles
PENSACOLA ELECTRIC CO.- .
to Marietta. Uses bridge of the Ohio River Bridge & Ferry Co. between
ORGANIZATION.-Incorporated in Maine on July 6 1908, and
is sucMarietta, Ohio, and Williamstown, W. Va. See V. 77, p. 1747.
cessor to the Pensacola Electric Terminal Co. Owns practically
OFFICERS.-Pres., C. H. Shattuck.-V.77. p. 1747.
entire
stock and the entire bonds of the Escambia County Elec. Lt. & the
Pow.
Co.
Does all the street railway and electric lighting of Pensacola. Railway
franchise expires in 1933: lighting franchise perpetual. •
PATCHOGUE, LONG ISLAND,'N. Y.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
SOUTH SHORE TRACTION.--A trolley road.
Common $800,000 ($100)*800,000
J-D
The same Interests controls Hudson & Long Island Tract. which was Pref. $500,000($100) 8% cum_ ____
300,000 Dec'07,3%
1st
mtge
$1,500,000
1906
ncorporated in N. Y. on March 31 1908 with $50,000 capital stock,
5 g F-A
750,000 Aug 1 1931
to
1Interest at City Trust Co., Boston, Trustee.
build a line from 12th Ave. & 42d St. N. Y.. to Blackwell's Isl. Bridge.
Stock.-The preferred stock becomes cumulative on Dec. 1 1906. and is
ORGANIZATION.-Chartered in'
New York March 3 1903 to build
from the Greater New York line near the Belmont race-track, Hempstead, redeemable at 115.
Bonds.-$750.000 are reserved for additions and improvements at 80%
via Rockville Centre, Amityville, Babylon, Patchogue, Brookhaven,
and intermediate places, to the Carman River in Suffolk County, about of cost. A sinking fund of 1 % per annum of bonds outstanding commnces
51 miles. V. 87, p. 546. In Sept. 1907 announced a plan tor extending Dec. 1 1907; first 5 payments may be waived, but becomes a fixed cnarge on
the line to Long Island City and Blackwell's Island Bridge (to New York). Dec. 1 1912. Bonds subject to call as a whole at any time at 105 and inAll franchises for line between Hempstead and Carman River have, with terest. and in part for sinking fund only. V. 83, p. 156.
Dividends.-First div., of 3% • was paid on ord. June 1 1907 and
one exception, been acquired, and construction is in progress.
3% wee
In April 1907 control of the Cross Island Tract. Co was acquired, which paid Dec. 2 1907. In 1908 June dividend passed because of strike on company's lines.
is to extend from Patchogue to Port Jefferson.
EARNINGS.-For 12 months end. Dec. 31 1907, grOss, $228,150; net,
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
$76,269; interest, $40,904 divs. on pref. (6%), $18,000; surp., $17,365.
Stock, $2,000,000 ($100) - - -7 -,$600,000
ROAD.-Operates 20.2 miles of track; standard gauge; 50 and 60-lb. rail:
1st mortgage $2,500,000, gl 1907
100,000
5g
1967
$1,000
c•'Int. at Empire Trust Co., N. Y , Trustee. 26 motor and 9 trail passenger cars and 12 other cars.
OFFICERS.-Pres., George J. Baldwin. Savannah;.-P.,Charles
Bonds.-Subject to call by trustee July 1 1927, by company July 1 1932.
F.
Wallace; Sec., Alvah K. Todd; Treas., Henry B. Sawyer; Managers, Stone
at 110 and interest.
OFFICERS.-Pres., Jas. T. Wood; V.-P.. Paul T. Brady; Sec., Arthur & Webster, Boston, Mass. V.83. p. 156; V. 84, p. 1183; V.186, p.11345. .„1
O. Hume; Treas. F. D. Kilburn; all of New York. New York office,
Times Bldg. V.'
79, p. 2698; V. 87, p. 546.
PEORIA, ILL.
PATTON, PA.
.
NORTHERN CAMBRIA STREET RY. CO.
ORGANIZATION.-Incorporated Oct. 8 1901 in Pennsylvania.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS.Stock $600,000 ($50)
$400,000
5 g M-N
1st mtge $600,000 ($500 andi 1905
400,000
1935
$1,000) gold
c* Int. at Knickerbocker Tr. Co., N. Y., trustee
Bonds.-Are subject to cal 1915 at 105. Sinking fund of 3% of gross
earnings begins 1910; after 1915 becomes 4% and 1920 5%.
ROAD.-Operates 13 miles between Patton, Barnesboro and Carrolltown. Standard gauge, 70-1b. T and girder rails.
OFFICERS.-Pres., W. H. DenIInger; V.-P., R. Peale; Sec., Jas.
H.
Aliport; Treas., H. F. Bigler; Gen. Mgr.. J. L. McNells.
PEORIA RAILWAY TERMINAL CO.-For statement of this company
see quarterly number of our Railway and Industrial Section.
PETALUMA, CAL.
PETALUMA & SANTA ROSA R Y.-A trolley road.
ORGANIZATION.-Incorporated in California on June 20
Stock
was held in a voting trust for 3 years, expiring in 1907. 1903.
Stockholders in 1908 paid an assessment of $10 a share to V. 78 p. 103.
liquidate the
floating debt.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
Stock $1,000,000 ($100)$1,000,000
1st mtge $1,000,000 gold( 1004
5 g M-S
698,000 Mch 110
($1,000)
c1 Interest at Mercantile Trust Co., San Fran..
Trustee, or at U. S. Mtge. & Tr. Co., N.Y.
PEEKSKILL, N. Y.
2d mortgage $250,000 gold.
'1905
6 g A-0
217,000
NORTHERN WESTCHESTER SECURITIES CO.
1915
($1,000)
of Mercantile Trust Co., San Fran., Trustee.
ORGANIZATION.-Incorporated in Connecticut on July 6 1906.
Bonds.-The first mortgage bonds have*a sinking fund "ample to
take care
trols through ownership of stock the Peekskill Lighting & RR. Co.Conthe of bonds." $302,000
are reserved for extensions at $17,500 per mile and
Hudson River & Eastern Traction Co. and the Northern Westchester Lightof cost. These bonds are subject to call at 110.
ing Co. Some of the bonds were offered in June 1907 with a bonus of 20% 75%
EARNINGS.-For calendar year 1907, gross, $216,642; net. $60,707;
in stock. V. 85, P. 103.
charges. $61,107, deficit, $400.
Sale of Security Holdings.-In Sept. 1908 It was reported that the WestROAD.-Operates 34 miles of track.from Petaluma through
chester Lighting Co., all of whose $12,500,000 capital stock is owned
by to Santa Rosa. Connects at Peiatuma with steamers for San Sebastapol
the Consolidated Gas Co. of New York, had contracted to purchase
Frencisco.
$804,000 stock of the Northern Westchester Lighting Co. and the $500 the Standard gauge, 70-lb. T-ralls.
41
OFFICERS.-Pres., Wm. A. Cattell; V.-P.. John A. McNear:
000
common stock of the Peekskill Lighting & RR. Co. (both owned by
Secland
Northern Westchester Securities Co. and pledged under the latter's'the Treas.. Thos. Archer; Mgr., E. M. Van Frank. V. 81, p. 508, 614.
collateral trust mortgage) together with $90,000 1st consol. mortgage bonds
of the Northern Westchester Lighting Co.
Date.
STOCK AND BONDSPHILADELPHIA, PA.
Interest. Outstanding. Maturity.
Stock, $2,400,000 ($100)$1,201,200
AMERICAN RAILWAYS CO.
Collateral trust $5,000,0001 1906
5 g M-S
1,404,000 Sept 1 1936
ORGANIZATION.-The American Railways Co. was incorporated
c*1Knickerbocker Trust Co., New York, Trustee
($1,000), gold
under
Bonds.-Can be called on any Int. day at 105 and int. $804,000 of bonds laws of New Jersey in 1900 as a consolidation of the former American Railoutstanding draw no interest until March 11908, then 2% % until March 1 ways Co. and the United States Electric By. & Lt. Co., which latter had
only
$1,000
of outstanding stock. In Dec. 1905 purchased a controlling
1910 and 5% thereafter. The $3,596,000 unissued bonds are reserved for
future acquisitions and improvements. Bonds arc secured by deposit Interest in the Scranton By. Co., paying par ($50) for both common and
with the trustee of the entire common stock of the Peekskill Lighting & RR preferred stock. V. 81, p. 1847. The pref. stock of the Scranton By.
paid
for in the trust certificates given below (V. 81, p. 1847).
Co., the entire stock of the Northern Westchester Lighting Co. and the was
V. 82,
entire outstanding stock of the Hudson River & Eastern Traction Co. p. 1375. In 1906 disposed of its holdings in the stock of the Springfield
Light & Power Co. but for legal reasons it was impossible to liquidate
V. 85.9. 103.
the
OFFICERS.-Pres., F. A. Stratton, Mt. Vernon; Sec., W. J. Bagnell, company. The stock
' was thereupon reduced to 7 shares, and is all
New York; Treas., Chas. H. Werner, New York. V. 85, p. 44, 103, 221, by the American Rys. Co. The $2,500,000 new issue of collateralowned
trust
bonds
was
made
in
June 1907. See V. 84, p. 1367.
1084, 1465; V. 87, p. 617.
In 1008 Blair Electric Co. was incorporated to do a lighting
(1) Hudson River & Eastern Traction Co.
been given a perpetual franchise and 10-year contract to lightbusiness;
ORGANIZATION.-Incorporated in New York on Feb. 15 1906. Pro- has
town of
Bellewood. All stock owned by this company.
poses to build a line from New York Central Station in Ossining through
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
Ossining and Briarcliff Manor to Pleasantville and Sherman Park, 9 miles.
Common $25,000,000 ($50)- -6 Q-M
$5,095,100 Sep15'08 1
234 miles is completed.
STOCK AND BONDS.- Date.
5 g J-D
Interest. Outstanding. Maturity. Collet Trust $2,500,000 goldl 1901
2,435,300 Dec 1 1911
cony ($500 & $1,000) _ _ _c• Int. at Prov. Life & Tr. Co., Phila. Trustee.
Stock $400,000
$75,000
5 g A-0
1st mortgage ;1.000,000 gold) 1907
1.032,000 April
5 g F-A
75,000 Feb 1 1957 Collet Trust $2,500,000 gold 1907
' 1 1917
($1,000 & $500)
($1,000)
c• Int. at Equitable Tr. Co., Phila., Trustee.
c&rlInt. at Colonial Trust Co., New York, Trus.
Bonds.-Are subject to call on or after Feb. 11012 on any int. day at 105 Scranton By tr cat-Ifs $1,500,- 1905
5 g M-S
1,499,000 Sept 11938
000 gold ($1,000) reg
and int.
'Int. at New York Trust Co. N. Y., Trusteer
Bills payable June 30 1908
1,115.000
'
(2) Peekskill Lighting & Railroad.
Bonds.-The collateral trust bonds of 1901 are redeemable at 105 and
Controlled through ownership of stock by the Northern Westchester crued
acinterest after NoV. 1 1904, and were convertible into stock at
Securities Co.
par at
option
of
holder
at
any
date.
Sec
V. 73, p. 1158' V.74, p
time before that
ORGANIZATION.-Incorporated as the Peekskill Lighting Co. on
935.
$64,500 were BO converted. The collateral for the
July
consists of
12 1900; subsequently purchased the Peekskill Gas Light Co. and Peekskill
$1,050,000 stock (out of $1,100,000 issued) of the People'sbonds
By. of Dayton;
Electric Light & Power Co. Name changed as above upon purchase of the $1,600,000 first
5s of the Chicago & Joliet Electric By. and *500,000
Peekskill Traction on Aug. 31 1900. Comprises all the gas, electric light, first mtge. 6s ofconsol.
the Springfield (0.) By.
power and street railway Interests of Peekskill. Entire capital stock is
The collat.
issue of 1905 is secured by deposit of a like
owned by the Northern Westchester Securities Co. Franchises of electric- Scranton Ry.trust
of
pref. stock.. They are redeemable since March amount
1 1907 at
light plants and railways are perpetual. Gas franchises liberal.
and accrued interest. V. 81, p. 1847.
1024
STOCK AND BONDS.- Date.
Interest. Outstanding.
The 1907 coll, trust bonds are redeemable on any int. date
Maturity.
at 102
Common $500,000 ($100)----Sc text. July 10 '08,1 Interest. The collateral
Q-J
for the bonds consists of $1,475,000 stock of and
Preferred $150,000 6% cum_ _ _
6 J-D
See text. June'08.3% Altoona de Logan Val. Elec.
Ry.and $1,975,000 stock of the Scranton TINT.the
1st mtge $750,000 ($1,000)1 1900
5 g A-0
628,000 Oct 1 1930
Co.
CONTROLLE
D.-The following is a list of the securities owned
gold,sinking fund-- --c1
at N. Y. Trust Co., N. Y., Trustee. American Railways
by the
Co. June 30 1908.
SHPT., 1908.
ELECTRIC RAILWAYS
Owned by
Outstanding. A. R. Co.
Altoona & Logan Valley stock
$1,500,00D $1,500,000
Blair Electric Co. stock
1,500
1,500
Bridgeton Electric Co., stock
25,000
25,000
Bridgeton & Millville (N. J.) Traction
Co. stock
500,000
500,000
Ohicago Itys. Co. participating certs. 71Ser. No.3 (2,500 sir.) 1
1Ser. No. 4( 625 sh.) I
Dellwood Park Co. stock
150,000
150,000
*Du Page Construction Co.stock
25,000
25,000
Franklin Real Estate Co. stock
10,000
10,000
People's By. of Dayton,0.,stock
1,100,000
1,100,000
Scranton Railway Co_ _ _ _'Common_ _
2,000,000
1,997,700
1Preferred
1,500,000
1,409, 50
Springfield Light & Power Co. stock_ _ _ _
700
700
Springfield,0.,By Co__ J First M. 6s_ _ _
500,000
500,000
IStock
1,000,000
904,400
Book
Value.
$403,750
1,500
17,270
459,364
94,166
150,000
25,000
10,000
1,334,228
2,011,225
1,400,240
700
500,000
39,959
4, The Du Page Construction Co. owns all the stock ($2,300,000) and all
the bonds ($1,600,000) of the Chicago & Joliet Electric By., and all the
stock ($1,100,000) and all the bonds ($1,000,000) of the Ch cago & Desplaines Valley Electric By.
Treasurer's Report for Twelve Months ending June 30.
1908.
1005.
1907.
1906.
Gross Income, all sources
$408,758 $527,063 $486,711 $444,254
Interest, taxes, &c
171,645
180,757
141,482
142,504
Net Income
Dividends (6%)
$327,113
305,706
$384,559
304,392
$345,229
251,385
$263,107
234,742
Surplus
$28,755
$93,844
$21,407
$80,167
DIVIDENDS.-First dividend on American Railways Co. stock, 1 %
Dec. 1900, and regular quarterly payments since then, but rate increased
to 1j% Dec. 1001, and then to 13,6 % Dec. 1902, which rate has been continued up to and including •-, pt. 1908.
CONTROLLED COMPANIES of the American Railways Co. for year
ending June 30 1908, the companies controlled earned combined gross,
$2,927,437, against $2,868,157 in 1006-07; passengers carried in 1907-08,
68,762,586.
ROAD.-Total track all properties, 321.01) miles; operates 596 cars.
Also owns 245 acres of land for parks in Altoona, Dayton, Springfield,
Bridgton and Joliet.
OFFICERS of American Railways Co.: Pres., J. J. Sullivan; 1st V.-P..
W. F. Ilarrity; 2d V.-P., C. L. S. Tingley; Sec. and Treas., Waiter W.Perkins; Asst. Sec., Treas. and Comp.. Frank J. Pryor, Jr.; Counsel, Silas W.
Pettit; Gen. Mgr., H. J. Crowley. General offices, 004 to 013 Witherspoon
Bldg., 1321 Walnut St., Philadelphia.-V.83, p. 686. 1409; V.84, p. 1365;
V. 84, p. 1549; V. 85, p. 721, 789; V. 86, p. 1528; V. 87, p. 740.
(1) Bridgeton 6c Miliville Traction.-Trolley.
ORGANIZATION.-Chartered in New Jersey as successor May 3 1897
to the South Jersey Traction Co., sold in foreclosure. Company owns two
toll roads besides the trolley road. Franchise is perpetual.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$500.000
Stock,$500,000 ($50)
5 g J-.)"
500,000 Jan. 1 1930
Virst mtge $500,000, gold.} 1000
guar ($1,000 and $500), Interest at Equitable Trust Co., Philadelphia. Trustee
se
(cannot be called)
Bonds.-For form of guaranty by American Railways Co. see V. 71, p.
491. The bonds were listed on the Philadelphia Stock Exchange in Feb.
1901. The following are deposited as security under the mortgage:
1.000 shares of the stock of the Bridgeton Rapid Transit Co.
"
Bridgeton & Millyille Turnpike Co.
377 "
" "
$250,000 (entire issue) 5% gold bonds of the Bridgeton Electric Co.
ROAD.-Bridgeton to Mlliville, 11 miles; Bridgeton to Cedarville, 831
miles; Bridgeton, local, 5 q miles; also an extension from Cedarville to
Port Norris, 12 X miles. Total, 38 miles.
OFFICERS.-Pres., J. J. Sullivan; V.-P., H. J. Crowley; Sec. and
Treas., C. L. S. Tingley; Gets. Mgr., B. F. Hires.-V. 72, p. 282.
(2) Bridgeton Electric Co.-Acquired in 1899 by American Railways Co.
ORGANIZATION.-Chartered in New Jersey Dec. 2 1895. Supplies
light and power in Bridgeton, Cedarville, Newport, Fairton, Dividing Creek
and Port Norris, N. J. Stock. $25,000. Bonds. $250,000 first mortgage
5% gold bonds, $1,000 each, dated July 1 1900, due July 1 1930, interest
J. do J. at office of the company: Real Estate Title Insurance & Trust Co.,
Philadelphia, Trustee. Whole issue is pledged with the trustee of Uri,
mortgage of the Bridgeton & Millville Traction. This was done so as to
bring the two properties (which are practically one) under the one mortg.e.
(3) Chicago & Desplaines Valley Electric Ry.
ORGANIZATION.-Incorporated in 1901 as a consolidation of the
Chicago & Desplaines Valley Electric Ry. and the Desplaines Valley Electric By.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
Stock, $1,100,000
$1,100,000
First mortgage, $1,000,0001 1901
5 M-N
1,000,000 May 1 1931
($1,000) gold
*el Int. at Illinois Tr. & Say. Bk., Chic., Trustee
Bonds.-The full Issue of the new first mortgage bonds has been deposited
as collateral security under the bonds of the Chicago de Joliet Electric By.
The Du Page Construction Co. owns the entire capital stock, of which
$1,000,000 18 pledged under the mortgage of the Chicago & Joliet Electric
By.. and also owns the entire $1.000,000 bonds, the whole amount being
pledged.
ROAD.-Extends from the Will Canty line, where it joins the Chicago de
Joliet Electric Ry. to the city line of Chicago on Archer Ave. Total, 41
' Summit to Lyons. The through route Chicago to
miles. Branch from
Joliet was opened Sept. 25 1901.
OFFICERS.-Pres., J. J. Sullivan; V.-P., It. J. Crowley; Sec. and
Treas., C. L. S. Tingley; Gen, Mgr., J. R. 13Iackhall.-V. 73, p. 183.
(4) Chicago & Joliet Electric Ry.-Trolley.
ORGANIZATION.-Incorporated as a consolidation of the Chicago &
Joliet Rapid Transit Co., the Joliet Street Ry. and the Joliet RR. Is operated by power purchased from the Economy Light 66 Power Co. of Chicago.
V. 73, p. 844. The Du Page Construction Co. owns the entire outstanding
$1,600,000 bonds and the entire $2,300,000 capital stock, and that company's entire stock Is owned in turn by the American Rys. Co. In Nov. 1905
the American Rys. purchased 63 acres of land near Joliet, which was converted into a park. This park is owned by the Dellwood Park Co., all of
whose stock is he'd by the American Railways Co.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
' Stock, $2,300,000 ($100)_
$2,300,000
Chicago & Joliet Electric Ry 1901
1,4
60
000
0:00000
5 g M-N
gold, $2,000,000 ($1,000)c* Int. at Illinois Tr. & Say. Bk., Chic., Trustee.
Joliet RR general mtge, gold 1898
5 g M-N
Ap
M ary.30
1 193
018
1
$400,000 ($1,000 each)____ Portland (Maine)Trust Co., Trustee.
Bonds.-Of the new $2,000,000 mortgage. $400,000 are reserved to retire
underlying liens. $2,200,000 of the outstanding capital stock of the Chi.
cago & Joliet Electric By.. $1,000,000 of the $1,100,000 stock and $1,000,000 (entire issue) bonds of the Chicago Sc Desplaines Valley Electric By. are
deposited under this mortgage as collateral security. Entire issue of the
$2,000,000 gold 58 may be called after May 1 1002 at 105 and interest.
ROAD.-Extends from Joliet to the Will County line, where it connects
with the Chicago de Desplaines Valley Electric By. for Chicago. Has 41
miles of track. Line between Joliet and Chicago was formally opened
Sept. 25 1901.
OFFICERS.-Pres., J. J. Sullivan; V. P., H. J. Crowley; Sec. and
Treas., C. L. S. Tingley; Gen. Mgr., J. R. Blackhall.-V. 73, p. 183, 722.
(5) People's Railway (Dayton).-A trolley road.
Acquired in 1899 by the American Railways Co.
ORGANIZATION.-Incorporated in Ohio June 18 1806. Comprises 31
miles of track in Dayton. Ohio: operates 121 cars. • The American Railways
Co. owns entire capital stock. In June 1908 outhorized amount of stock
was increased from $1,100,000 to $2,500,000.
STOCK AND BONDSInterest. Outstnading. Maturity.
Date.
Stock, $2,500,000 ($100)_
$1,100,000
First mtge "White Line,"} 1895
5 g A-0
300,000 Oct. 1 1925
$300,000 ($500) gold, red Interest at Union Savings Bank & Trust Co.,
Cincinnati, Trustee.
Oct 11000 at 110.
First mortgage "Petple's By") 1897
5 g J-J
200,000 Jan. 1 1927
$200,000 ($500), gold, red Interest at Union Savings Bank & Trust Co..
after Jan. 1 1002 at 1l0_.j Cincinnati, Trustee.
83
OFFICERS.-Pref,,, John A. McMahon, Dayton; V.-P., H. J. Crowley;
Philadelphia; Sec. and Treas.. C. L. S. Tingley, Philadelphia; Asst. Sec.,
Eugene ‘Vulchet, Dayton; Gen. Mgr., Geo. C. Towle.-V.86, p. 1530.
(6) Springfield (Ohio) Rail way.-Trolley.
ORGANIZATION.-Incorporated in Ohio Oct. 20 1892; 9,944 shares of
the capital stock have been acquired by the American Railways Co.. which
also owns the entire issue of first mortgage bonds.
STOCK AND BONDS-Interest. Outstanding. Maturity.
Date.
Stock (par, $100)
$1,000,000
First mortgage, $500,000, golcil 1893
500,000 Jan. 1 1933
6 J-J
1Interest at First Nat. Bank, Springfield, 0*
ROAD.-Owns 30.3 miles of track. Operates 62 cars. A 3 mile extension was completed in 1907.
OFFICERS.-Pres., Oscar T. Martin; V.-P., H. J. Crowley; Sec. and
Treas.. C. L. S. Tingley; Gen. Mgr., John H. Millen-V.69, p. 439.
(7) Altoona & Logan Valley Electric Ry -TrolleyORGANIZATION.-Incorporated in Pennsylvania Aug. 5 1903. 0,
4;•9
the entire $65,000 stock of the Lakemont Park Co.; also $39,000 of the $40,000 stock of the Home Electric Light & Steam Heating Co. of Tyrone, and
leases that company for 99 years from July 1 1903; $35,000 of this stock In
deposited as additional security for the consolidated mortgage. In Aug.
1903 absorbed by consolidation the City Passenger By.and the Tyrone Electric By. (previously owned), and increased its capital stock Irons $500,000
to $1,500,000. V. 77, p. 1745.
The American Ralways Co. owns entire stock Altoona & Logan Valley
Electric Ry.
Date.
Interest. Outstanding. Last div.,&.c.
STOCK AND BONDSStock, $1,500,000 ($50)--- - -77,
$1,500,000 In 1906-07,
Consol mtge $4,000,000 gold) 1903 434g F-A15 3,300,000 Aug.i$ 1933
($500 and $1,000) guar by Interest at Equitable Trust Co., Philadelphia
Trustee.
American Rys Co
c&r
Bonds.-Of the new $4,000,000 mortgage bonds,$700,000 are reserved
for extensions. These bonds are guaranteed, principal and Interest, by
endorsement by American Rys. Co. No sink, fund and not subject to call.
'44 in 1897-98, 1898-99.
Dividends.-In 181)6 paid %2 '10; in 1896-97,
1899-00, none; In 1900-01, 6% %; in 1901-02, 10 'JO; in 1902-03, 10 %; In
1903-04, 5t%; In 1004-05, 5.7%; 1905-06, 6%; In 1006-07, 5%.
EARNINGS.-For year ending June 30 11)07, gross. $532,392: net.
$236,421; fixed charges, $162,310; dividends, $75.000; deficit, $889.
ROAD.-Operates 49.91 miles of track, connecting Altoona, Bellwood,
Hollidaysburg and Tyrone. Extensions aggregating 4 miles were built during 1907. Gauge, 5 ft. 3 in. Operates 103 cars.
OFFICERS.-Pres., J. J. Sullivan; V.-P., H. J. Crowley; Sec. and
Treas., C. L. S. Tingley; Gen. Mgr., S. S. Crane.-V. 70, p. 680; V. 80.
p. 649, 710, 2456, 2619; V. 82, p. 333, 391, 803.
(8) Scranton Railway.-A trolley road.
ORGANIZATION.-On Jan. 1 1897 assumed all the assets and liabilities
of the Scranton Traction Co., &c. V. 63, p. 1064; V. 64, p. 85.
The company owns all the stock of the Carbondale By., the Pittston &
Scranton Street By. and the Lackawanna Valley Traction Co. and practically all of the stock of the Scranton & Pittston Traction and the entire
stock of the Scranton & Carbondale Traction and the Ridge Turnpike Co.;
also $25,000 of the $100,000 stock of the Scranton Dunmore & Moosic Lake
Railroad Co., the entire issue of the new Carbondale By. mortgage ($300,000), $112,500 of the $115,000 bonds of the Lackawanna Valley Traction
Co. and $60,000 of the $355,500 bonds of the Scranton & Pittston Traction
Go.
STOCK AND BONDSInterest. Outstanding. Maturtgy.
Date.
Common, $4,500,000 ($50)___
_______
$2,000,000
Preferred, 5% cumulative,tAll but $750 of the preferred stock has been
retired by the issue of trust certificates.
$1,500,000'
050)
See statement of American Rys. Co. above.
Scran Tree 1st M, 51,000,0001 1892
6 g M-N
1,000,000 Nov. 1 1932'
($1,000) gold, no option_c*fInterest (x) at American Rys. Co., Phila.
Soren Pass By 1st M ($1,000)_ 1890
6 M-N
100,000 May 1 1920
Scran Sub 1st M g ($500, &c)I 1890
6 g M-N
200,000 May 1909
gold, guar p 66 I
c*I Farmers' Loan & Trust Co., N. Y., Trustee,
People's St By 1st M ($1,000) g 1888
6 g F-A
200,000 Aug. 1 1918
People's St By gen mtge. gold_ 1891
6 g J-D
100,000 Dec. 1 1921
Scranton By M, 42,500,000J 1897
5 g J-J
900,000 Nov. 1 1932
gold ($1,000)
c*1New York Trust Co., New York City, Trustee
Scranton RY gold collateral 1900
5 g J-J
500,000 Nov. 11032
trust, $500,000 01,000. Provident Life & Trust Co., Phila., Trustee.
$500)
c* Int.(x) at office in Scranton, or agency,Phila.
x Free of United States and Pennsylvania State taxes.
Bonds.-Of the $2,500,000 Scranton By. mortgage 5s of 1897, $1,600,000
are reserved to retire prior bonds at maturity. The collateral trust bonds
can be called at any time at 105 and interest on 30 days' notice; furthermore, the right Is reserved to call in and exchange the bonds at any time
before maturity for bonds bearing the same rate of interest "which may be
issued by a consolidated street railway company controlling by consolidation
or lease the street railway lines represented by the securities pledged." The
securities pledged consist of all the stock ($450,000) and the entire issue
($300,000) of the Carbondale Railway Co. mortgage of 1000: also $998,700
out of the $500,000 stock of the Scranton & Carbondale Traction Co.;
$043,775 out of the $976,125 stock of the Scranton & Pittston Traction Co.;
likewise $60,000 out of the $355,500 bonds of the latter.
ROAD.-Owns and operates all the street roads in and around city of
Scranton, having an aggregate mileage as follows:
OwnedMiles. Lackawanna Valley Traction__ 3.94
Scranton Railway
41.67 Carbondale Railway
16.06
LeasedMiles. Pittston & Scranton St. Ry
2.22
Scranton SC Pittston
12.51
Scranton Se Carbondale
4.94
Total system
81.55
REPORT.-Now included in report of American Railways Co.
OFFICERS.-Pres., J. J. Sullivan; V.-P., Henry J. Crowley; Sec. and
Treas.. C. L. S. Tingley.-V. 78, p. 49, 989; V.81, p 1850:V 84,p,1368.
(a) Carbondale Railway.-A trolley road.
This is the old Carbondale Traction Co., which was sold at foreclosure
in 1900. The Scranton Railway Co. owns all the stock of the Carbondale
Ry.. also the $300.000 5% gold bonds due June 1 1926. Road is leased to.
Scranton By.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock auth, $450,000 ($50)
$450,000
1st M, Carbondale Traction} 1892
6 g J-J
150,000 July 1 1922
Co., c'&r, $150,000, gold Interest at Central Trust Co., New York.
$1,000)
($500 and
Trustee.
Carbondale R'way, 1st mon-) 1900
5 g J-D
300,000 June I 1926,
gage, $300,000, gold, regis- }Interest at American Rys. Co., Philadelphia.
j Geo. L. Estabrook, Philadelphia, Trustee.
tered
Bonds.-First mortgage of Carbondale Traction, due 1922, has a sinking
fund of $2,500 per annum after July 1 1895, but bonds cannot be called.
The new bonds due 1926 have no sinking fund, but can be called at any
time at 105 and accrued interest upon 10 days' notice.
ROAD.-System includes 16.06 miles of road, beginning at Forest City.
Pa., and running through Vaudling, Richmondale, Wilson Creek, Simpson,
Carbondale, Mayfield, Jermyn, Archbald to Peckville, where it connects
with Scranton lines.-V. 69, p. 1061; V. 70, p. 75.
(5) Scranton & Carbondale Traction.-A trolley road.
ORGANIZATION.-Chartered Feb. 23 1893. Leased to and operated
by the Scranton Railway Co., which owns all the stock. Owns the entire
capital stock ($36,000) of the Blakely & Dickson Tract. St. By.
STOCK AND BONDS-Miles. Date. Interest. Outstanding. Maturills
$500,000 19011%
$1,000,000,) 5
6 g J-J
1893
150,000 Jan 1 1923gold ($1,000)
c• Interest at American Rys. Co., Philadelphia.
Free of State tax.
Lackawanna T. & S. D. Co., Scranton, Trustee.
Bonds for $100,000 are reserved for power plant, if required, and $750,000
for purchase of other railroads and new property.
ROAD.-Owns road extending from Scranton to Archbald, Pa., about
5 miles; connects with Carbondale Railway to Carbondale.
(c) Scranton & Pittston Traction.-A trolley road.
ORGANIZATION.-Chartered Sept. 8 1893, and leased for 50 years to
Scranton By. Co., which owns $966,425 of the stock and $60.000 of the
bonds. This co, owns the entire stk. of the Lack. St. By. Co., the Pittston
Jenkins & Avoca St. By.,the Pittston Sub. Pass. By,and the Stark Land Co.
84
ELECTRIC RAILWAYS
STOCK AND BONDS-Mites.Date. Interest. Outstanding. Maturity.
$976,125
15
Stock (par $100)
•355,500 Oct 1 1923
6 g A-0
Mtge $525,000, g ($1,000} 15 1893
and $500), c., guar by Interest at Union Trust, Trustee, Phila. Nos.
1 to 400 $1,000 each and Nos. 401 to 650 $500.
Scranton Trust
*Of the bonds outstanding $295,500 are guar. by the Scranton Ry.; the
remaining $60,000 are owned by the Scranton Ry.
ROAD.-Owns 124 miles of track, uniting Scranton with Greenwood,
Moosic, Taylorville, Avoca, Pittston and Readham.
EARNINGS.-Earnings are now included in Scranton By.
(d) Pittston & Scranton Street Ry.-A trolley road. Stock, $60,000,
all owned by Scranton By.. by which road is operated.
(e) Lackawanna Valley Traction Co.-A trolley road. Stock, $400.000;
bonds, $115,000. Operated by Scranton By.. which owns all the stock
and $112,500 of the bonds. Owns the entire stock of the Olyphant &
Winton Trac. St. By., the Mt.Vernon El. St. By. and the Olyphant Sub.
Trac. Co.
FAIRMOUNT PARK TRANSPORTATION.
ORGANIZATION.-A New Jersey corporation formed in 1894. Charter
perpetual; license from Park Commission runs until July 24 1939. Owns an
electric railway in Fairmount Park. From Nov. 30 to May 1 operation is
optional. Owns Woodside Park. Road opened Nov. 1896.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,847,404 See text.
Stock, $2,000,000 ($50)5 g M-S
500,000 Sept 1 1912
1st mortgage, gold, $500,000,1 1897
call 105 after Sept 1 1902}Girard Trust Co., Philadelphia, Trustee.
c''') As to bonds of 1897 see V. 85, p. 620.
($1,000)
9 1 00
5 g M-S
188,000 Sept 1 1912
2d mortgage, $250,000, gold)
c*f Int. at Girard Trust Co. Phila., Trustee.
($1,000)
16,000
Bills payable Nov 1 1907
Bonds.-New 2d mtge. can be called on and after Sept. 1 1902 at 105 and
accrued interest on 30 days' notice.
Dividends.-First dividend paid Dec. 1 1897, 2%. None since.
ROAD.-8.47 miles of track in West Park and East Park; crosses Schuy kill River on a steel bridge. Rails are 90 lbs. 20closed, 50 open cars.
EARNINGS.-Year ending Oct. 31 1907, gross, $133,823; net, $66,795;
charges, $51,219; surplus, $15,576; net profits Woodside Park, $4,486.
OFFICERS.-Pres., C. E. Platt; V.-P., J. R. Jones; Sec. and Treas.,
W. C. Martin; Rigde Ave., Bank Building, Philadelphia -V. 65, p. 620;
V. 70, p. 686; V. 71, p. 683.
NEW YORK-PHILADELPHIA CO.
Receivership.-Company defaulted in 1908 in payment of coupon. On
Feb. 21 1908 U. S. Circuit Court Judge Lanning appointed J. Kearney Rice
of New Brunswick receiver. Bondholders' committees have been formed.
V. 86, p. 795, 1284, 1467.
ORGANIZATION.-Incorporated in New Jersey, and owns the entire
capital stock of the Trenton & New Brunswick RR. and the N. J. Short
Line RR. and a majority (about two-thirds) of the stock of the Camden &
Trenton By. By this ownership and a perpetual traffic contract with the
Public Service Corporation for terminals in Jersey City, operates electric
cars between New York and Philadelphia.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,000,000
_
Stock, $1,000,000 _
1935
600,000
1.555 5 g M-S
1st trust mtge,
gold ($500 and $1,000)___J Guaranty Trust Co.. New York, Trustee.
are
They
interest.
and
105
at
time
Bonds.-Are redeemable at any
secured by deposit of a majority of the stock of the Camden & Trenton By.
and the entire stock of the Trenton & New Brunswick RR. and the New
Jersey Short Line RR. Interest payable in New York and Philadelphia.
-V. 85, p. 1210, 1270, 1519; V. 86, p. 53, 229, 481; 548, 795. 1467.
(1) New Jersey Short Line RR.
Receivership.-On Feb. 21 1908 Judge Lanning appointed David F. Carver of Newark as receiver. Int. due April 1908 on bonds was defaulted'
See remarks above concerning protective committees.
ORGANIZATION.-Stock all owned by the New York-Philadelphia Co.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$2,100,000
.
Stock, $3,000,000 ($100)
5 g A-0
1,750,000 Apri 1 1934
1st mtge, $2,500,000, gold) 1904
Co.
of
Pennsylvania,
'Finance
Phila., Trustee.
$1,000)
($500 and
Bonds.-No sinking fund and are not subject to call. $750,000 are reserved for the acquisition of additional properties.
ROAD.-Was to construct a double-track road 20 miles in length (40
miles of track) on private right of way from New Brunswick, where connection is made with the Trenton & New Brunswick RR.,to Elizabeth, there to
connect with the Public Service Corporation ,and thus form part of a through
line from New York to Philadelphia. Pending completion, cars have been
operating between New Brunswick and Elizabeth by way of Bound Brook
-V.86,p. 548,795.
(2) Trenton & New Brunswick RR.-Trolley.
Default.-Interest due Jan. 1 1008 on the $1,000,000 1st mtge. bonds
was defaulted. V. 86, p. 230.
Receivership.-On Feb. 21 1908 Judge Lanning appointed David F. Carver
of Newark receiver.
ORGANIZATION.-Incorporated in New Jersey on Dec. 10 1901, under
the General Railroad Law. Entire capital stock is owned by the New YorkPhila. Co. and road forms part of the through line from New York to Phila.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,000,000
Stock, $1,000,000 ($100)_
5
g J-J
1,000,000 Jan 1 1932
1901
gold)
$1,000,000,
1st mtge,
J Finance Co. of Pennsylvania, Phila.,Trustee.
($500 and $1,000)
Bonds.-No sinking fund and cannot be called.
EARNINGS.-For calendar year 1907, gross, $56,689; expenditures for
operation, &c., $46,726.
ROAD.-Owns about 25 miles of standard-gauge track between Trenton
and New Brunswick, over private right of way.-V. 78, p. 230; V. 79, p.
2087; V. 80, p. 164; V. 86, p. 230, 548, 795.
(3) Camden & Trenton Railway.-Trolley.
Receivership.-On Feb. 18 1908 at Trenton, N. J., Vice-Chancellor
Walker appointed Wilbur F. Sadler Jr. of that city receiver on application
of former President Henry V. Massey, a shareholder. The company defaulted Nov. 1 1907 in payment of Interest on Its $710,000 1st mtge. bonds,
and the interest due Jan. 1 1908 on the $622,500'gen. mtge. bonds was
alSo defaulted. See V. 86, p. 228. For information concerning 1st mortgage bondholders protective committee, see V. 86, p. 601, 1528. For protective committee representing gen. mtge. bondholders, see V. 86, p. 1284.
On Aug. 22 1908 application to issue receiver's certificates was denied.
V. 87, p. 225, 543.
ORGANIZATION.-Incorporated in New Jersey on Dec. 15 1897.
About, two-thirds of the stock is owned by the New York-Philadelphia Co.,
and road forms part of the New York-Philadelphia through line.
Owns 395 out of 400 shares (par $50) of the capital stock of the Cinnaminson Electric Light, Power & Heating Co. of Riverton, N. J., which supplies the towns of Beverly, Deianco, Riverside, Riverton and Palmyra with
light. Also owns 1,362 shares (par $10) out of 1,600 shares of the capital
stock of the Bordentown Electric Light & Motor Co., which supplies light
to Bordentown and vicinity. The bonds below, besides being secured by
mtge. on the road between Camden and Trenton, are further secured by a
deposit of the holdings of the stock of these two companies. Leases the
Trenton Terminal RR.
Interest. Outstanding. Maturity.
STOCK AND' BONDS- Date.
Stock, full paid ($10)
$1,750,000
710,000 Nov 1 1929
5 g M-N
1st mtge, gold, $750,000 1899
($500 and $1,000)
c• Provident Life & Trust Co., Phila., Trustee.
622,500 July 1 1931
5 g J-J
1st gen'i mtge, $1,750,0001 1901
($500 and $1,000), gold_c• Provident Life & Trust Co., Phila., Trustee.
39,000
Car trust certificates
Bonds.-Of the $750,000 bonds, $40,000 are reserved (uncertified) to retire like amount of bonds of the Cinnaminson Electric Light & Power Co.
due April 1 1914. V. 70. p. 279.
Of the $1,750,000 issue, 5750,000 are reserved to retire above outstanding
prior liens and the remaining $377,500 is held for extensions at not exceeding
$40,000 per mile in Trenton and Camden and not exceedin ^ "20.000 per
mile outside those cities.
EARNINGS.-For cal. year 1907 gross $170,049; expenditures for operation, superintendence and management during year, $140,608.
ROAD.-Comprises the electric-light plants and 38 miles of road between
Trenton and Riverton (where connection is made with Camden & Suburban
(vol. Lxxxvic
By.tracks). By a contract between this company and the Camden & Suburban, the Camden & Tren. Ry.cars run direct to the Philadelphia Ferry at
Market and Federal streets, Camden.-V. 86, p. 228, 479, 601, 793, 856,
1284, 1528: V. 87, p. 225, 543.
PHILADELPHIA & WEST CHESTER TRACTION.-A trolley road.
The Eastern Securities Co. has acquired control.
ORGANIZATION.-Chartered in Pennsylvania on April 24 1895. Municipal franchises are perpetual. In 1898 acquired control of the Phila. &
West Chester Turnpike Road Co., which in turn controlled the Delaware
County Passenger RR. Also controls the Phila. Castle Rock & West Chester Passenger By. Co. In Jan. 1902 leased the Ardmore & Lianerch St.
Ry., a line between the points named, 31-3 miles; It has no bonds or other
debt. Rental is 5% on the outstanding stock ($300,000 auth., $280,400
outstanding) and payment of taxes and organization expenses. Leases
the Philadelphia & Garrettford St. By. (which It also controls) at 5% on
stock and interest on bonds.
STOCK AND BONDS- Date. Interest, Outstanding. Maturity.
$814,000 See earn'gs
Stock, $1,000,000 (par $50)400,000 Oct 1 1918
1st M,$400,000, gold, subject 1898
5 g J-J
to call at 105 after Oct 1 '99 Int. at Girard Trust Co., Phila., Trustee.
534,000 Jan 1 1954
4 g J-J
Mtge. bonds,$1,000,000, gold 1904
c• Int. at West End Tr. Co., Phila., Trustee.
($1,000)
587,000 Aug 1 1955
5 g F-A
Phila. & Gar 1st M, $3 000,- 1905
c Int. at West End Trust Co., Phila., Trustee.
000 gold ($1,000)
Bonds.-$466,000 of the 4s of 1904 are reserved to retire $400,000 1st mtg.
bonds. Bonds of either issue can be called at any time at 105 and interest:
no sinking fund. The Phila. & Gar. bonds can be called at 105 and interest
on any interest day.
EARNINGS.
-For year ending June 30 1907, gross, $259,248; net.
$99,592; fixed charges, $90,505; dividends, $28,000; deficit, $18,903.
ROAD.-Operates about 304 miles from the new 'Union Station of the
Philadelphia Rapid Transit at 69th and Arch sts., Philadelphia, to West
Chester, of which 7.07 miles is leased. Leases Philadelphia & West Chester
Turnpike Road Co. for 999 years from 1895. Also Ardmore & Lianerch.
3 1-3 miles, and Philadelphia & Garrettford, 3.16 miles. Total, 37.29
in.; 58, 60 and 70-lb. T rail. 39 cars.
miles. Gauge, 5 ft. 2
OFFICERS.-Pres., A. Merritt Taylor, 610 Arcade Bldg., Phila.; V.-P.,
W.S. Taylor; Sec., H. H. Aikens; Treas., C. L. Rihl; Auditor, H. A. Sieber.
Office, 610 Arcade Bldg.. Phila.-V. 81, p.727, 1551; V. 84. p. 1552.
RAILWAYS COMPANY GENERAL.
ORGANIZATION.-Incorporated at Trenton, N. J., Aug. 25 1899. Is
empowered to build, lease, sell, purchase and operate street railways, electric light, gas, Illuminating plants and water works, and also to acquire or
dispose of the securities of the same. Stock auth., $700,000, shares $10; all
issued. Is listed on the Philadelphia Stock Exchange. Stock was originally $10,000,000 (par $5) auth. and $1,500,000 outstanding, but was reduced in Oct. 1901 to *1,200,000 (par $10) by vote of the stockholders.
V. 73, p. 338. In Sept. 1905 amount was again reduced, this time to
$900,000 (V. 81, p. 841), and in Sept. 1906 was further reduced to $700,000.
V.83, p. 752. Control passed in Nov. 1902 to parties represented by President Dick. In Dec. 1905 sold its holdings in the stock of the Michigan
-action Co. and the stock and bonds of the Elmira & Seneca Lake By.
The following shows the securities held Sept. 1908:
Total Issue. Owned.
Lewisburg Milton & Watsontown Passenger (stock) ___$150,000 $150,000
Lewisburg Milton & Watsontown Passenger 5s
230,000
230,000
Montoursville Electric Light (stock)
10,000
10,000
Montoursville Passenger By. Co. 5s
75,000
75,000
Montoursville Passenger By. Co.(stock)
75,000
75,000
Michigan Traction Extension Co. 5s
500,000
500,000
EARNINGS.-Gross of the railways controlled for the year ending Dec.
31 1908 were $50,581; of the electric light companies, $29,537.
REPORT.-For years ending June 30: Income from dividends on stocks
and Interest on bonds of subsidiary companies. In 1908, $167,072; in 1907,
$171,019; salaries, rents, taxes, &c., in 1908, $15,814; in 1907, $8,628;
balance, surplus, In 1908, $151,258; in 1907, *162,391.
OFFICERS.-Pres., T. D. Rhodes; V.-Ps., F. J. Lisman and E. R. Dick;
Sec. and Treas., H. C. Winchester; Asst. Treas., L. D. Maltble.-V. 85.
p.001,7 8.
(1) Lewisburg Milton & NVatsontown Pass. Ry.-Trolley.
ORGANIZATION.-Chartered Sept. 3 1897. Commenced operations in
Feb. 1898. Railways Company General owns all stock and bonds.
STOCK AND BONDS- Date.
Interest. Outstanding, Maturity.
Stock. $150.000 050)_
5150,000
1st mbrtgage $230,000 gold), 1907 \ 5 g J-J
230,000 July 1 1937
csfInterest at N. Y. Trust Co., N. Y.
($1,000)
EARNINGS.-For fiscal year ending June 30 1908 were: Gross, $28,546;
net after taxes, $6,312; Interest, $9,500; deficit, $3,188.
ROAD.-10 miles of track between points named in title.
OFFICERS.-Pres., T. D. Rhodes; V.-P., E. R. Dick; Sec. and Treas.,
H. C. Winchester; Asst. Sec. and Treas., L. D. Maltble; Supt., Richard
Barrett. .
(a) Milton Electric Light & Power Co.
ORGANIZATION.-Chartered under the laws of the State of Pennsylvania Feb. 8 1892. Purchased the plant and franchises of the ThomsonHouston Electric Light Co. Authorized capital. $40,000, which was reduced to $27,750 Dec. 15 1806, all of which is owned by the Lewisburg
Milton & Watsontown Passenger By.
EARNINGS.-Gross earnings year ending June 30 1908, $22,006; open
expenses and taxes, $22,484; deficit, $478.
(2) Montoursville Passenger Railway.-A trolley road.
ORGANIZATION.-Chartered in Pennsylvania Juno 28 1897. Commenced operations Dec. 16 1897. The.entire stock and bonds are owned by
the Railways Company General. Stock authorized and issued, $75,000.
Funded debt authorized and issued, $75,000, % 30-year gold bonds
dated Aug. 1 1898,interest J&J. Operates 54 miles of track from Williamsport to Montoursville, Pa.
EARNINGS.-For fiscal year ending June 30 1908 were: Gross, $21,934;
net, after taxes, $3,885; fixed charges, $3,125; surplus, $760.
OFFICERS.-Pres., T. D. Rhodes; V.-P., E. B. Dick, New York; Sec.
and Treas., H. C. Winchester, 30 Broad St., N. Y.; Asst. Sec. and Treas.,
L. D. Maltbie; Supt., Richard Barrett.
(31 Montoursville Electric Light Co.
ORGANIZATION.-Chartered under the laws of the State of Pennsylvania Sept. 3 1897. Capital stock, $10,000, all owned by the Rys. Co. Gen.
EARNINGS.--Earnings year ending June 30 1008, gross, $7,531; oper,
expenses and taxes, $8,251; deficit, $720.
PHILADELPHIA RAPID TRANSIT.-Controlled by the Widener
syndicate.
Incorporated in Pennsylvania on May 1 1902 to take over under lease the
Union Traction Co. for 999 years from July 1 1902. and to acquire and hold
shares of other corporations. (For terms of lease, see Union Traction below.) The Rapid Transit Co. acquired numerous franchises for new roads
obtained by the Mack-Foerderer syndicate in 1901. In June 1903 the Market St. Elev. Pass. By., with $5,600,000 authorized capital stock, was
formed to absorb a number of these franchises. V. 76, p. 1301. In June
1903 the Rapid Transit Co. obtained from the Philadelphia City Councils
other valuable franchises for new lines. In April 1906, however, an agreement was entered into with the city relinquishing nearly all the rights to the
franchises of 1901 and 1903, and the whole matter of the company's franchise rights was readjusted on a new basis. See V.82, p.693,870.
Elevated structure has been built upon Market St. from 23d St. to Delaware Ave., on Market St. west of the Schuylkill River, and on Delaware
Ave.from Market St. to SouthSt. V.74, p.528,989; V.76, p. 1301,• V.81,
p. 265. In March 1907 began operating on that portion of the elevated
from the Schuylkill River west to the Upper Darby terminal station,a distance of about 4 Miles. V.84, p. 571: On Aug. 3 1908 the entire subway,
from 2d St. to 69th and Market St. was placed in operation. V. 87, p. 347.
In July 1902 acquired all the stock of the Doylestown & Willow Grove
By. eo. Also owns entire stock of the Phila. do Wil. Grove Trac. Co. and
entire stock ($10,000) of the Real Estate Holding Co., which owns property
of an assessed value of $463,850.
On July11906 the Phila. Morton & Swarthmore By. and the Media Middletown Aston & Chester Elec. By. were consolidated, forming the Darby
Media & Chester By. The new company, embracing 25 miles of track, was
thereupon leased to the Phila. Rapid Transit Co. for 999 years, rental being
$8,500 for first year. $17,000 for second and third years, $25,500 for fourth
year. 534.000 for fifth year and $42,500 for sixth year and thereafter.
With Aug. 1 1906 the Rapid Transit Co. began to sell passengers 6 tickets
for 25 cents. V. 82, p. 1439. On May 18 1908 company put Into force a
rule allowing transfers only upon payment of full 5-cent cash fare. V. 88.
ELECTRIC RAILWAYS
SEPT., 1908.]
p. 1160. It was reported Sept. 1908 that company will submit ordinance
to City Council providing for abolishment of present six-for-a-quarter tickets
and introduction of a straight 5-cent fare with "workingmen's tickets" sold
In bulk at reduced prices and good between hours of 6 and 8 a. m. and p. m.
V.87, p.615.
Adjustment of Relations with City.-On Feb. 18 1907 the board of directors accepted the plan submitted Jan. 1907 by the Retail Merchants' Association of Philadelphia for a readjustment of the relations between the city
and company. The plan confers upon the city the right to purchase at any
time after June 30 1957 all leases, franchises and property of the company at
the company's actually paid-in capital, $30,000,000. The city is to have
the right to assign or sell this option. Furthermore, a sinking fund Is to be
established, to be taken out of the gross receipts of the company, which,
calculated at 4%. will amount to at least $30,000,000 at the expiration of
50 years, to enable the city to acquire the property at that time. Another
feature in the arrangement is that, beginning with Jan. 1 1907, the city is
to share equally in the net profits after stockholders have received lawful
interest on the capital invested by them. All franchises for further surface,
elevated or underground railroads within the city are to be first offered the
Phila. Rapid Transit Co. under terms of this contract. The city is also to
have three members on the board of directors. The present rate of fare Is
not to be changed except with the consent of both parties. As part of the
arrangement, the Rapid Transit Co. agreed to call the $12,000,000 then still
due on its stock at the rate of $3,000,000 every six months, the money to be
used to give increased and improved service. For further details of plan,
see V. 84, p. 451, 1552. An ordinance embodying the above features was
passed by the Phila. City Council on June 20 1907 (V. 84, p. 1488) and ratified by the company July 18 1907. On July 29 1907 directors called for
payment the final assessment of $15 a share on stock, payable In two installments, $7 50 Sept. 9 1907 and $7 50 Sept.? 1908. V.s85, p.2841402.
In June 1908 the City Councils approved the company's proposition to
Pledge Its assets to secure a $5,000,000 loan, the present Issue not to exceed
$2,500,000. V. 86, p. 1530. Stockholders Sept. 16 1908 approved proposition. See V. 87, p. 740.
Interest. Outstanding. Maturity.
STOCK AND BONDS.- Date.
1600,000 shares 1
Stock 830,000,000 ($50)
Pull pa..
Market St El 1st mtge $10,-1 1905
4 g M-N $10,000,000 May 1 1955
000,000 gu gold($1,000)..c*lint. at Land Title & Trust Co., Phila., Trus.
885,000 July 1 1936
Darby Media & Ches 1st mtger 1906 4 A g J-J
$1,500,000 ($1,000) gold_ Obit. at Land Title & Trust Co., Phila., Trust
Stock was listed on the Phila. Stock Exchange in July 1902 and In Feb.
1905 on N. Y.Stock Exchange. A second call of $5 was made on the shares.
payable July 6 1903; a third for 58, payable Jan. 20 1904; a fourth for $5,
payable Jan. 20 1905; a fifth for $5, payable July 10 1906; a sixth for $5,
payable Dec. 10 1906; a seventh, payable May 6 1907; an eighth, for $7 50.
payable Sept. 9 1907, and a ninth, for $7 50, payable Sept. 8 1908, making
$50 (all) per sharepaid In.
Bonds.-The Market St. Elev. Ry. bonds cover the subway and the pro652. They are guar.,
posed elevated road on Market St. See V. 80, p.Tran.
Co. Are subject
prin. & Int., by endorsement by the Phila. Rap.
purchasing the
to call on any interest date at 102 A and int. The syndicate
p. 547. The Darby
bonds was In Alarm 190/ closed. V. 84, p. 749; V. 86,
and Interest,
principal
guaranteed,
are
bonds
Ry.
Street
Media & Chester
by endorsement by the Philadelphia Rapid Transit Co. Can be called a
102,4 snd interest on or after lily 1 1016.
ROAD.-Total trackage, Including all lines leased and operated. 619.95
miles. Owns 3,879 cars.
ANNUAL REPORT.-FIscal year ends June 30. Annual report for
1907-08 was given In V.87, p. 738.
1904-05.
1905-06.
1908-07.
1907-08.
512,869,023 492,137,038 448,576,785 402,803,245
No. pass. carried
$18,300,080 $18,095,503 $17,483,414 $16,188,645
Gross earnings
8,183,437
9,153,603
9,704,508 10,095,007
Operating expenses
1
Net earnings
0th.Income,Int.,
Total net Income
Taxes and licenses
Union Traction div Fixed charges
Surplus
$8,505,572
257,422
$8,329,541
193,103
$8,000,405
245,188
$8,005,208
185,980
$8,762,994 $8,245,593 $8,522,644 $8,191,188
$966,535
a$1,394,127 $1,120,683 $1,075,216
(5)1,500,000(5)1,500,000(4)1,200,000(4)1,200,000
5,916,443
5,943,432
5,988,958
b5,960,916
$303,996
$92,049 def.$364,0.18
$108,210
a The item of "taxes and licenses" includes the $500,000 which the company now pays annually to the City of Philadelphia In lieu of paving, licenses on cars, &c. Cost of paving in previous years was Included In operating expenses. b Does not Include Interest on the $10,000,000 Market St.
Elev. 1st M., as the line was not completed until after the close of the fiscal
year.
OFFICERS.-Pres., John B. Parsons; V.-P., George D. Widener; 2d
V.-P.,Charies 0. Kruger; 3d V.-P.,Alex. Rennick; See. and Treas.. R. B.
Seltridge; Asst. Sec. and Asst. Treas., Joan Is. Peddle; Comp. Alex.
Rennick, all of Philadelphia.-V. 83, p. 38. 324, 863, 688, 780, 819% 1171,
1229, 1291, 1412, 1471; V. 84, p. 451, 571, 749, 804, 868, 1114, 1248,
lasa. 1552; V. 85. is. 42, 222. 284. 345. 853. 718. 723. 1469.! V. 88, p.
1160, 1467, 1530, 1590; V. 87, p. 97, 286, 347, 481, 615, 738, 740.
(1) Doylestown & Willow Grove Ry.Co.-A trolley road.
In July 1902 was acquired by the Philadelphia Rapid Transit through
purchase of the entire capital stock ($500,000) for $20,000. The Rapid
Transit Co. guarantees interest on the bonds. See V. 79. p. 1331.
Interest. Outstanding. Maturity.
STOCK AND BONDS.- Date.
$500,000
Stock $500,000 ($50)
500,000 June 1 1930
4 g J-D
1st mtge $500,000 ($1,000)1 1900
c*J Land Title & Trust Co.. Phila., Trustee.
gold guar
-Owns and operates 13 miles of road from Doylestown to Willow
running over the old turnpike between those places, which is leased
ROAD.
Grove,
for 999 years.
EARNINGS.-Included in Phila. Rapid Transit Co.-V.79, p. 1331.
(2) Twenty-Second Street & Allegheny Ave. Passenger Ry.
ORGANIZATION.-Formed in 1903 and merged the old Twenty-second
St. & Allegheny Ave. Pass. Ry. Co. (chartered 1890), the Fairmount &
Frankfort Pty. Co.. Fisher's Lane By. Co., Lindley Ave. By. Co., Chelten
Ave. Pass. By. Co, Germantown & Fairmount Ry. Co. and the Phila. &
Trenton Rapid Transit St. Ry. Co. Is leased to the Phila. Rapid Transit
Co. for 6% per annum on paid-in capital.
Interest. Outstanding. Maturity.
STOCK AND BONDS.- Date.
J 26,040 sh 1
.
Stock $1,302,000 ($50)
$25 paid. J
767,500
.
Due lessee June 30 1908
ROAD.-Operates about 39 miles of track.
Treasurer, John B. Peddle.
1
(3) Philadelphia & Willow Grove Street Ry.Co.
ORGANIZATION.-Is a consolidation in 1904 of the Phila. & Willow
Grove Street Ry. and the Glenside & Wilow Grove Street Ry. Entire
stock is owned by the Phila. Rapid Transit Co., which guarantees the bonds.
prin. & int., by endorsement See guar. V.79, p. 904.
Interest. Outstanding, Maturity.
STOCK AND BONDS.- Date,
$1,000,000
Stock $1,000,000
1,000,000 July 1 1934
1st mtge $1,000,000 guar gold' 1904 4 A g J-J
Tr.
&
Phila., Trustee.
Title
Land
at
c*JInt.
($1,000)
at 105 and intereet
Co.,
Bonds.-Bonds are subject to call on any interest date
upon 30 days' notice. A sinking fund begins after 5 years; of $10,000 par
annum for five years, $15,000 per annum for following 5 years, and $20,000
per annum for the ensuing 15 years. See V.79, p.904.
ROAD.-Operates a double-track road .from intersection of Weaver St.
or Cherry Lane with Montgomery County line to Willow Grove Park, Total, 17 miles of track.-V.79, p. 904, V.81, p. 32.
(4) Darby & Veadon Street Railway.
ORGANIZATION.-Entire stock ($5,000) is owned by the Philadelphia
Rapid Transit Co.
Interest. Outstanding. Maturity.
STOCK AND BONDS.- Date.
Stock all owned by Phila. Rapid TransitCo.
$200,000 Dec 1 1934
1st mtge $200,000 gold guarl 1904 4 A g J-D
csJ Int. at Land Title & Tr. Co.. Phila.. Trustee.
($1,000)
Bands.-Are guaranteed, prin. & int., by endorsement by the Phila. Rap,
Tran. Co. Are subject to call on any interest date at 105 and Interest.
ROAD.-Comprises a line from the Philadelphia County line to Darby,
23 miles.
85
-A trolley road.
UNION TRACTION.
Lease.-The Union Traction Co. has been leased for 999 years from July
1 1902 to the Philadelphia Rapid Transit Co. Lease rental (payable in
gold) is $900,000 per annum (equal to 3% on the face value of the $30,000,000 stock) for the first two years, $1,200,000 per annum (equal to 4% on
stock) for the next two years, $1,500,000 per annum (equal to 5% on stock)
for the next two years and $1,800.000 per annum (equal to 6% on stock)
thereafter. The stockholders of the Union Traction Co. were given the
right to purchase 150,000 shares of the new Rapid Transit Co. stock. V. 74,
p. 989. Included all the leading street passenger railway lines within the
city of Philadelphia at the time.
ORGANIZATION.-Chartered Sept. 13 1895, and acquired on or about
Oct. 1 1895 all the shares of the Electric Trac. and People's Trac. companies,in place of which were issued collateral trust certificates secured by the
shares placed in trust. In 1896 leased these properties for 998 years and 3
months from July 1 1896. On Oct. 1 1895 leased for 999 years the Philadelphia Traction at 8% on its capital stock and has "assumed" Its 4%
collateral trust bonds. V. 61, p. 663. Leases (from Jan. 1 1898) Hestonvine Mantua & Fairmount Passenger Ry. for 999 years at 6% on preferred
and 4% on common stock. See V. 86, p. 236. The Lehigh Ave. By. Co.
($600,000 stock) was also leased for 999 years from July 1 1899. See terms
of consolidation, &c., in statements for the constituent companies and V.
131, p. 152, 197, 283, 663. The Philadelphia Rapid Transit now operates
the road.
• OutInt. or
Maturity or
last dividend.
standing.
STOCK AND BONDS- Date. Dividends.
r600,000 shares. 1
Stock, $30,000,000 (par}
,j-J
1817.50 paid in. Idu'y'082% %
$50)
29,730,114 red.aft. Oct. 1 '45
Trust Co. certificates1 1895 4 g A-0
gold, guar. p. & I. by'Interest at Pa. Co. for Ins. on Lives & Granting
Annuities, trustee.
Union Tr
1,436,000
July 1 1952
4 g J-J
Collateral trust first mort1 1902
$1,500,000, gold_ _ _ J Land Title & Trust Co.,Philadelphia, Trustee.
Trust Certificates.-The trust certificates are not the direct obligations
of the Union Traction Co., but were issued by the Pa. Co. for Ins. on Lives
& Granting Annuities to pay for the shares of the Electric and People's Traction companies purchased and are secured by a deposit with the Trust Co.
of all the shares of the stock of the Electric Traction Company and the
Peoples' Traction Company thus acquired. See description of certificates
In V. 64, p. 135. They are guaranteed, principal and interest, by the Union
Traction Co. and are redeemable at the option of that company on and after
Oct. 1 1945.
Collateral Trust Bonds.-The collateral trust bonds were issued to fund
the floating debt and are secured by the deposit of the 35,000 shares of the
common stock of the Hestonville Mantua & Fairmount Pass. RR. Subject
to call at 105 and accrued interest; $64,000 has been retired by sinking fund.
OFFICERS.-Pres., John B. Parsons; 1st V.-P-, Geo. D. Widener; 2
V.-P., and Gen. Man., Charles 0. Kruger; Sec. and Treas., Robert B. Selfridge; Ass.-Sec. and Treas. Jno. B. Peddle.-V. 75. p. 31. 609. 1255.
LINES CONTROLLED BY UNION TRACTION CO.
(1) Catharine & Bainbridge Streets Ry.-A trolley road.
ORGANIZATION.-Incorporated May 14 1889, and leased to the Philadelphia Traction Mar. 1 1890 for 99 years, and since Oct. 1 1895 operated
by the Union Traction Company;in Sept.1895 term of lease was increased
from 99 to 999 years and stock from $150,000 to $400,000 (all owned by
Union Traction Co.): rental is $24,000 yearly, besides interest and taxes.
Interest. Outstanding. Maturity,
Date.
STOCK AND BONDSSee text.
Stock (par $50)
6% M-S $400,000
150,000 Apr. 1 1920
A-0
5x
First mort. $150,000 ($1,000)c 1890
234,698
Due lessee July 1 1908.
Interest at Land T. & T. Co., Trustee, Penn. Co. for Insur. on Lives. etc.
Dividends.-Dividends of 6% are paid-.
ROAD.-The road oriverates 5.40. miles of track.
(2) Citizens' Passenger Railway.
ORGANIZATION.-Incorporated Mar. 25 1858. Leased to Frankford
& Southwark Passenger Railway Company Apr. 1 1892 for 999 years; rental now $140,000 per annum, equal to 28% on stock, or $14 per $50 share.
This lease was assumed by the Electric Traction Company July 11893. The
Union Traction now operates the road.
Miles.
Interest. Outstanding. Maturity.
STOCK AND BONDSSee text.
11
Stock $500,000 ($50)
28% Q-J See text.
Stock paid in $192,500; $20 on 8.500 shares and $15 on 1,500 shares.
Road. Columbia Avenue to Mifflin St.. 11 miles of track.
(3) Continental Passenger Railway.-A trolley road.
ORGANIZATION.-Incorporated Sept. 3 1873. Leased Jan. 1 1880,
to Union Passenger Railway Company for 99 years at rental of $6 per share
per annum, interest, taxes and operating expenses; lease assigned to Philadelphia Traction Company June 30 1884. Operated by Union Traction
Company since Oct. 1 1895. Stocks owned, per balance sheet July 1 1906.
$600,000.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS120,000 shs. 1
$6 J-J 1 $29 paid In. J See text.
Stock (par $50)
1879 6% J-J
$280,000Jan. 1 1909
First mort., $5001
c.'Interest at Land T. & T. Co. Philadelphia, Pa.
and $1,000
Due lessee for additions July 1 1908, $672,260.
Bonds are subject to drawings of $20,000 Dec. 1 yearly. Trustee Land
Title & Trust Co. Own 1.6J miles of track.
(4) Electric Traction.
ORGANIZATION.-Incorporated May 8 1893 and acquired control of
the Citizens' Passenger By., the Frankford & Southwark Passenger By.
and the Second & Third Street Passenger By. On July 1 1896 leased for
999 years the Citizens' Clearfield & Cambria St. By., the Citizens' East End
St. By.. the Brown & Parrish St. Ry., and the Citizens' North End St. By.
In 1895 the Union Traction Company acquired all the stock at the rate of
$85 per share for each share on which $50 had been paid on and $70 per
share for each share on which $30 had been paid, the Pennsylvania Co. for
Insurances on Lives & Granting Annuities issuing therefor its guaranteed
trust certificates. On July 1 1898 the Union Traction Co. leased the property for 998 years and 3 months. See V. 61, p. 197, and also "Union Traction."
Par. Dividends. Issued. Outstanding.
STOCK AND BONDS$8,297,920
_ _ -_ $50
Stock (part $30 paid)
Stock authorized, 175,000 shares of $50 each; issued, 152,398 shares of
$50 paid and 22,604 shares of $30 paid, making total $8,297,920.
ROAD.-Operates 13.s.56 1 miles of track. Rail 90 lbs.-V. 63, p. 557.
(5) Empire Passenger- Railway.-A trolley road.
ORGANIZATION.-Incorporated Feb. 10, 1869. Leased Dec. 26 1873
to Citizens' Passenger Railway Company and the Seventeenth and Nineteenth Street Passenger Railway Company for 999 years. Transferred Oct.
1 1895, along with all right to dividends on 6,100 shares of Its stock (then
held by the Union Passenger Railway Co. as trustee and lessee), by lease
of Philadelphia Traction to the Union Traction Co. Dividends are $1 50
per $50 share each June 30 and Dec. 30-that is, are 6% per annum.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS(All owned by Phila. Trust.) $600,000
Stock (par $50)
200,000 Mar. 1 1930
33g. J-J
1900
mort.
First
gold),
$200,000 ($500)-c- J Land Title & Trust Co., Philadelphia, Trustee.
Bonds.-The new 3 As were issued to retire a like amount of 78 du
July, 1900.
Due lessee company for additions July 1 1908, $705,715.
s 12.25 miles of track.-V. 70, p. 1150.
ROAD.-Op
(6) Frankford dc Southwark Passenger RailwayORGANIZATION.-Incorporated Apr. 4 1854. Acquired stock of
Lombard & South Streets Passenger Railway in 1890. Leased to the
Electric Traction Co. for 999 years from July 1 1893, dividends for the several years named below being guaranteed per share:
8th
7th 8th 9th 10th & after.
5th
4th
3d
2d
1st
$18
$12 $12 50 $13 $13 50 $14 $14 50 $15 $16 117
STOCK AND BONDS- Miles. Date. Interest. Outstanding. Last dtv.&c.
$1,875,000
See text.
Q-J
Stock (par $50)
45--- by Electric Traction Co.)*
Debt of Controlled Lines (assumed
$150,000 Dec. 1 1951
1881 3 A J-D
SouthSts.) 10
d0&
$70
mb
Lodo
0)
Pass. 1st M. ($500}Interest at Real Estate Title Insurance & Trust Co..
4 A-0
Trustee1.875
9
132,100 Oct. 1 1935
West End Pass. Ry.e,1
mtg.ext. $150,000 Phila. Trust S. D. 4e Ins. Co.. Trustee.
($100 & $500)_ _c. Int. at Land Title & Trust Co.
Interest on all loans payable by Elec. Tr. Co.. 421 Chestnut St., Phila
86
ELECTRIC RAILWAYS
IV0L. Lxxxvii.
The Lombard & South Sts. Pass. Issue of 1150,000 was originally 5%,
STOCK AND BONDS. Date.
Interest. Outstanding. Last Div., &a.
but was called at maturity an
@FedFRASER